Denton Economic Development Partnership
BLOG   |   CONTACT US
photobar
HOME
 
BUSINESS
LOCATION
EXISTING
BUSINESS
AIRPORT
DEVELOPMENT
DOWNTOWN
DEVELOPMENT
INVEST
IN DENTON
NEWS/
REPORTS
RESOURCE
ROOM
ABOUT US
 
INVESTOR
LOGIN

Projects

Tax Increment Financing

One of the challenges to making improvements downtown is finding the money. One of the ways we are working to support improvements is through Tax Increment Financing. The State of Texas website defines this as, ". . .a tool that local governments can use to publicly finance needed structural improvements and enhanced infrastructure within a defined area. These improvements usually are undertaken to promote the viability of existing businesses and to attract new commercial enterprises to the area. The statutes governing tax increment financing are located in Chapter 311 of the Texas Tax Code." (http://www.window.state.tx.us/taxinfo/proptax/registry/zone.html)

A boundary map has been viewed and approved by the Downtown Task Force and the Economic Development Partnership Board. The map will shortly go before the City Council for final approval. Click here to view the steps to creating a tax increment financing district.

Click here for a list of questions and answers that we have compiled to inform you about this method of financing improvements. Please feel free to call 940-349-7731 if you have questions or concerns.

Downtown Incentive Grant Reimbursement Program

The City of Denton has a reimbursement grant program that provides grants to assist downtown projects with facade improvements, roof and foundation repair, new signs and awnings, reimbursement of impact fees, and utility upgrade costs.

The grant program began in fiscal year 2007-1008.  Since that time, 20 grants have been awarded.  For every dollar the city has invested, the private sector has invested $50.  For information on the grant program, call 940-349-7732.

Hickory Street Corridor and Arts Walk Project

In 1995, A Vision for Denton: the 21st Century identified the Hickory Street Corridor, from the Square to Bell Avenue, as a project with great potential for increasing pedestrian traffic to the Square and the Visual Arts Center. The "Play" subcommittee suggested that Hickory Street was well suited for a potential arts and entertainment corridor.

The Hickory Street Corridor and Arts Walk Project links several existing and programmed downtown improvements and maintains a tight focus on the City's implementation and redevelopment goals. Extensive studies conducted over the past few years by City staff in conjunction with RTKL and the Leland Group have established a well-conceived sustainable growth and redevelopment plan for the downtown area.

Through staff-consultant work sessions, public meetings, and canvassing of citizens, local stakeholders and Council leadership, the following goals were established:

  • Preserve historic Downtown and Square area as anchor to urban, mixed-use redevelopment.
  • Establish Downtown Transit Center along MKT Rail line for regional rail connectivity.
  • Provide pleasant and convenient link between the Transit Center and Downtown area that promotes non-motorized vehicular travel.
  • Provide pleasant and convenient link between Downtown, Texas Woman's University and University of North Texas that promotes non-motorized vehicular travel.
  • Promote and facilitate sustainable mixed-use infill and transit-oriented development to increase critical mass and diversity in downtown area.
  • Continue to add and upgrade bicycle and pedestrian infrastructure to promote walkability and increase the number of non-vehicular trips made into and within the Downtown core area and primary linkage points.

Hickory Street Corridor and Arts WalkThe Hickory Street Corridor and Arts Walk will begin at Austin Street and extend east to the Denton County Courts complex at Hickory and McKinney Streets. All of the existing sidewalks within both sections of the project will be removed and replaced. Pedestrian lighting is proposed throughout the project, as are trashcans, benches, bike racks, street trees and landscaped corner beds and flowerpots at various intersections. An irrigation system is also proposed along the length of the project.

The Hickory Street Corridor and Arts Walk project is consistent with current long-term plans for the City's downtown revitalization efforts. Upon completion, the project will effectively link the major east/west corridor between the Transit Center and UNT. Effective linkage depends upon creating a pedestrian- and bicyclist-friendly environment that emphasizes people over cars while maintaining an awareness of and accommodating the needs of the motor vehicle.

Walkable Environment - Hickory Street CorridorStreetscapes need to shelter pedestrians from the sun, protect them from traffic, and invite them to walk. The Hickory Street Corridor and Arts Walk will provide pedestrians and bicyclists a safe, user-friendly connection from the University of North Texas to historic downtown Denton and to the Transit Station where students and commuters are able to park their bicycles and use the train to reach other destinations in the region.

In addition to historic downtown Denton, Texas Woman's University and the University of North Texas, the Downtown Transit Center creates a fourth major center in Denton's core.

Hickory Street Corridor hubThe Hickory Street Corridor and Arts Walk will provide linkages between all of these hubs, allowing pedestrians and bicyclists to safely walk and ride to and from all points. This increase in pedestrian traffic through the creation of an inviting, walkable environment will not only lead to additional business development in Downtown and stimulation of the local economy, but it will also reinforce the sense that Downtown is indeed the heart and soul of the community – it is the place where people live, work and play.

Capital Improvement Project

Click here for more information.

Downtown Transit

Click here for more information.