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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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.

1st Quarter Update
January 2021

With the approval of Proposition A at the November 30 General Municipal Election, the City is coordinating a transition plan for the Type A Economic Development Corporation to be transitioned into a Type B Economic Development Corporation. The advantage of this change is that the sales tax that the City currently collects for economic development purposes can be used for both job creation and quality of life types of projects. Draft articles of incorporation, bylaws, and all other necessary ordinance changes are being created for review with the DeSoto Economic Development Corporation and the Parks Development Board in January.  The full transition plan will be reviewed with the City Council in February with the goal of legally changing the designation of the economic development corporation in the month of March. These changes will expand the potential list of projects eligible for assistance through the new economic development corporation. The City's land-use and market analysis study for the Hampton Road corridor continues with the completion goal of June. Following the completion of that plan, the City will undertake development of economic development policies to incentivize projects consistent with that vision. The City is soliciting interest from firms to complete the land-use and marketing analysis for other commercial nodes in DeSoto. Following completion of that study and analysis, the City will develop economic development policies to incentivize designated projects.