[{"_1":2,"_87":-5,"_88":-5},"loaderData",{"_3":4,"_26":27},"root",{"_5":6,"_17":10,"_18":19,"_20":21,"_22":10,"_23":-5,"_24":-5,"_25":10},"user",{"_7":8,"_9":10,"_11":10,"_12":-5,"_13":-5,"_14":15,"_16":-5},"roles",[],"isAuthenticated",false,"isPremium","planName","subscriptionStatus","featureFlags",{},"insightsBudget","isDevelopmentHost","userPreferences",{},"recaptchaSiteKey","6LcvOJcUAAAAAHsB-gPGfGktcRlKpH7OTIU_dMTD","isImpersonating","impersonation","affiliateStatus","isFreedomPortal","routes/v2/article/layout",{"_28":29,"_30":31},"notFound",true,"relatedArticles",[32,75],{"_33":34,"_35":36,"_37":38,"_39":40,"_41":42,"_43":44,"_45":46,"_47":48,"_49":50,"_51":52,"_53":54,"_55":56,"_57":58,"_59":60,"_61":62,"_63":64,"_65":66,"_67":68,"_69":70,"_71":68,"_72":73,"_74":73},"mediaId",6608567,"mediaKeyId","2939194-c47e92c854d5d9379574081b6cddd85a","parentId",2939194,"title","EDP board discusses routing expiring incentives into Catalyst Fund; asks for options and annual review","audioSeconds",1449,"startMs",1377000,"endMs",2826000,"viewUrl","/Search/View?dp=1&key=2939194-c47e92c854d5d9379574081b6cddd85a&start=1377&end=2826","thumbnailUrl","https://assets.pipeline.soar.com/2939194-c47e92c854d5d9379574081b6cddd85a/thumbnail_1377000.jpg","articleUrl","/articles/6608567/Denton-City/Denton-County/Texas/EDP-board-discusses-routing-expiring-incentives-into-Catalyst-Fund-asks-for-options-and-annual-review","mediaUrl","https://secure.pipeline.soar.com/6608567-9455c5407f8c83535931c0244097d84c/orig.mp4?Expires=1771163465&Signature=oGi5FNSF75YmYtf8wW1ZaFf55sU8e-NrDNOWOzUefuYVs~et3adTSXMF9m0PZ1y~KUpuobWKi8UkR9QmhI57OvSMPkX5NVXJJWTNSjRxzm~~F8dkUSy3Ues5O1iQlReAjdg7ZmeJ--qDRjz1QTQNYTrjlMDvH5ZGOy7ZplyrAHu-zAhkwAeVotJcjRSRirRv~p5oQFfO8k9LJBUx6NPTe0njhgl2-453HEVAu8OgRidC4ItL8Sgs2MvEaa~kT9-DaQ562kbTgxqNKi7ntuihYj3Fjjsd4LLjNIyX-pHippHwjzHv6LpW4vXAH4F138-AFNoQPb3V9tfIS15bCY-c6w__&Key-Pair-Id=KUT5TJCACFTXG","author","Denton","date","2025-04-09T00:00:00Z","article","The Economic Development Partnership (EDP) board discussed a proposal to redirect expiring economic development incentives into Denton City's Catalyst Fund during its April meeting, with staff asking the board to recommend whether expiring sales‑tax and ad valorem incentive revenue should be reallocated to the fund instead of returning to the general fund.

EDP staff said the proposal was developed from a two‑minute pitch by Council Member Jill Jester and asks the city to consider redirecting portions of expiring Chapter 380 and sales‑tax incentive agreements into the Catalyst Fund to build a cash reserve for future economic development grants and competitive cash incentives.

Jamie Adams, presenting the EDP analysis, said the forecasted potential from existing incentive agreements was roughly $8.9 million over a 10‑year horizon: about $6.9 million tied to Chapter 380 and sales/mixed beverage incentives and about $1.9 million from tax abatements. \"If we're able to meet $9,000,000 over the course of two years, that would be ideal,\" Adams said, adding that the estimate depends on the general fund's status and on whether companies seek new or expanded incentives.

Why it matters: board members said a dedicated cash balance would make Denton more competitive for headquarters and other relocations that sometimes require upfront cash grants rather than only rebates, but several members warned that a dedicated revenue stream should be tied to a clear strategy and annual fiscal review.

Board discussion and board guidance: Members offered a range of views rather than endorsing a single fixed formula. Some favored routing a substantial portion of expiring incentive revenue into the Catalyst Fund while others urged a moderate approach and stressed that any reallocation should be reviewed as part of the council's annual budget process.

Council Member Jill Jester, who proposed the two‑minute pitch that launched staff work, framed the change as a way to preserve cash for future economic development incentives. Several board members said they wanted staff to return to council with specific options (for example, 25%, 50% or up to 100% of expiring incentive revenue) and with a policy tying a target balance to the city's strategic priorities so councilors could weigh the tradeoffs against other needs such as public safety or infrastructure.

Staff direction and next steps: The board did not adopt a formal binding policy at the meeting. Instead, members instructed staff to present the proposal and the feedback from this meeting to the city council work session with multiple implementation options and to confirm that any redirection would be contingent on annual budget evaluations. Adams told the board staff would include the estimate of potential transfers and recommended guardrails so the council could decide each year whether and how much of any expiring incentive should be directed to the Catalyst Fund.

Key points from the discussion
- Estimated potential transfer: $8.9 million over a 10‑year term (estimate dependent on actual agreement expirations and the general fund's condition).
- Options requested by board members: fixed percent allocations (examples discussed: 25%, 50%, 100%), or an annual evaluation process tied to the budget.
- Board preference: support in principle for building a dedicated cash resource, but members requested (a) a plan that ties a target fund balance to strategic priorities and likely incentive use cases, and (b) annual council review rather than an automatic rollover.

Staff presented mechanics and constraints: Adams and staff noted that many incentive agreements require annual compliance reporting from companies and that the actual funds available for reallocation will depend on compliance, future incentive applications, and overall fiscal conditions. The board also asked staff to model scenarios showing how a target Catalyst Fund balance would support specific types of incentives (for example, headquarters relocation grants vs. job‑creation grants).

Outcome: referral to council work session. Staff will forward the proposal and the range of options and data points requested by the board to the city council work session for further consideration.

Ending: Board members asked staff to bring back fiscal scenarios and comparisons to peer cities so councilors can weigh the tradeoffs in the May council work session.","mediaType","Video","parentTitle","Denton - Economic Development Partnership Board on 2025-04-09 11:00 AM - Apr 09, 2025","oneSentenceSummary","The Economic Development Partnership (EDP) board discussed a proposal to redirect expiring economic development incentives into Denton City's Catalyst Fund during its April meeting, with staff asking the board to recommend whether expiring sales‑tax and ad valorem incentive revenue should be reallocated to the fund instead of returning to the general fund.","taxTitle","Denton City, Denton County, Texas","taxId",2787,"location","headline","","shortSummary",{"_33":76,"_35":36,"_37":38,"_39":77,"_41":78,"_43":79,"_45":80,"_47":81,"_49":82,"_51":83,"_53":84,"_55":56,"_57":58,"_59":85,"_61":62,"_63":64,"_65":86,"_67":68,"_69":70,"_71":68,"_72":73,"_74":73},6608562,"EDP annual report: website traffic, 51 BRE visits and 29 RFIs; board accepts presentation with one abstention",3932,86000,4018000,"/Search/View?dp=1&key=2939194-c47e92c854d5d9379574081b6cddd85a&start=86&end=4018","https://assets.pipeline.soar.com/2939194-c47e92c854d5d9379574081b6cddd85a/thumbnail_86000.jpg","/articles/6608562/Denton-City/Denton-County/Texas/EDP-annual-report-website-traffic-51-BRE-visits-and-29-RFIs-board-accepts-presentation-with-one-abstention","https://secure.pipeline.soar.com/6608562-88f32bd1a8d8c18e076a5a91248297ce/orig.mp4?Expires=1771163465&Signature=bMKqfEcMDLh1CDPa5RpJWD6aSQWWX64E3imvfgsI1MeKCqWVlNOYxWU9yDxXYn8hTn2bXhTBxnlm0IAD4vmUZV1hby8o89YGDUCZa4mnhALpi8mDt5cccz9fkibt8kMqlr0aPjcyhMQWuptqoH2NBJ3HIXGUaNgpVP7i0nGPYh70Dbqjr52wy4MROkf0unaix7RZEc13wufiRDeWLuaLGSv7oowMqopsYrz6BhQevtQhmWMwV7B2KzTFnuyzoM8d7J8ZI1ACJ~5jnjIJ7~stmVvrGRXU4byUutcePWOoHlWx16wUoqRf7yFFyEtwAek7LmabmS9obKYXGyw~UgkexA__&Key-Pair-Id=KUT5TJCACFTXG","Jamie Adams, representing the Economic Development Partnership, presented the EDP annual report at the board's April meeting, highlighting marketing growth, business retention activity and a surge in state and regional business leads.

Adams said the partnership's website users rose from roughly 3,200 monthly users in 2023 to about 58,600 users per month in 2024, with average monthly pageviews near 12,000 (an 83% year‑over‑year increase). Email engagement was strong, Adams said, with a 54% open rate and a 16% click‑through rate, both well above industry averages.

Business retention and expansion (BRE): The EDP exceeded its BRE visit target, conducting 51 visits against a 40‑visit goal. Adams said 8 businesses indicated plans to expand, 12 expressed concerns about employee transportation (frequently cited in West Park), and 26 raised workforce development needs. Staff reported they connected 43 companies to university and training partners including UNT, NCTC and TWU and facilitated job‑fair and workforce connections.

Real estate and market numbers: Adams reported office vacancy fell from about 9.3% in Q1 2024 to 7.8% in Q4 2024; asking rents rose modestly (examples cited: market rents in a range reported around $24'$28 per square foot). Industrial inventory reported roughly 24 million square feet with about 4 million square feet available; 2.1 million square feet was built in 2024.

Small business support and downtown priorities: The EDP's funding to the Small Business Development Center supported 67 business starts in 2024, roughly 254 jobs, and 642 unique clients served. Staff summarized downtown work including vacancy management, downtown reinvestment grant activity (four completed reimbursed grants to date), work on a possible downtown public improvement district and coordination on film and music permits and promotion.

Lead generation: Staff reported 29 active RFIs (requests for information) for February and March, 26 from the governor's office and three from the Dallas Regional Chamber; Adams said submitted RFIs had an average capital investment of about $272 million and average job counts of about 313, and Christina Davis converted two RFIs into site‑tour leads during that period.

Board action: The board moved to accept the annual report/presentation. The motion passed; one board member recorded an abstention. The board also approved the minutes from the previous meeting earlier in the session.

Why it matters: EDP staff described higher lead volume and improving market indicators as evidence of increased recruitment activity and community marketing reach. Board members asked staff to add fiscal impact estimates for large leads and to continue developing a CRM and reporting tools that will track prospective tax revenue and job outcomes tied to active projects.

Ending: Staff said the department will return with a water infrastructure update and RFI response guidance at a future meeting and will bring more detailed fiscal modeling on tax base impacts for large recruitment wins.
","The Denton Economic Development Partnership board received the EDP annual report covering marketing metrics, business retention and expansion (BRE) activity, industrial and office market stats, and a rise in RFIs for potential relocations. The board accepted the presentation; one member abstained.","actionData","errors"]

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EDP board discusses routing expiring incentives into Catalyst Fund; asks for options and annual review

EDP annual report: website traffic, 51 BRE visits and 29 RFIs; board accepts presentation with one abstention