Goal #3

Create an economic development plan for Hampton Road, Belt Line Road at Cockrell Hill, and general citywide commercial nodes

City Work Plan

1. Develop a transition plan to go from Type A to Type B Economic Development Corporation | City Manager’s Office | Start FY 2021 Q1 | Complete FY 2021 Q2

2. Develop a land-use plan and market study for Belt Line Road and general citywide commercial nodes | Development Services | Start FY 2021 Q2 | Complete FY 2021 Q4

3. Create an economic development policy for Hampton Road to include a strategy for marketing City-owned land and an incentive policy to encourage targeted economic development in the area| City Manager’s Office | Start FY 2021 Q3 | Complete FY 2022 Q1

4. Develop a city-wide economic development policy to include an incentive policy that encourages retail and restaurant development for Belt Line Road and general City-wide commercial nodes | City Manager’s Office |Start FY 2022 Q1 | Complete FY 2022 Q3

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3rd Quarter Update
July 2021

The City's Transition Plan to establish a new Type B Economic Development Corporation that can use sales tax dollars for quality-of-life-type economic development projects is complete. The new DeSoto Development Corporation Board has been meeting regularly since March 2021. A new Economic Development Director, Matt Carlson, has been hired to begin working collaboratively with the DeSoto Development Corporation and the City of DeSoto to bring development to the City. The current land use and market study on Hampton Road continues to progress, with development of an economic development policy expected to occur in Q4. Responses from qualified firms to a City-issued Request for Qualifications are being reviewed for recommendation to the City Council. The selected vendor will perform a land use and market analysis to better identify and prepare commercial areas in DeSoto for development. For those new commercial areas identified through this study, economic development policy development is expected to begin in October.

2nd Quarter Update
April 2021

The Transition Plan from a Type A Economic Development Corporation to a Type B Economic Development Corporation was reviewed and approved by the DeSoto City Council. The Type A Economic Development Corporation was dissolved and the new Type B Corporation was formed and conducted their first meeting in March 2021. All contracts, assets, and liabilities have been assigned to the new Type B Corporation known as the DeSoto Development Corporation. The new DeSoto Development Corporation is now positioned to begin utilizing funding consistent with State laws for Type B Economic Development Corporations. The current land use and market study on Hampton Road continues to progress, with efforts to develop an economic development policy expected to occur in June. A draft Request for Qualifications seeking qualified firms to undertake a land use and market analysis to better identify and prepare commercial areas in DeSoto for development is being reviewed for release in Q3. For those new commercial areas identified through this study, economic development policy development is expected to begin in October.