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FY 2018-19 Budget Presentation
Economic Development
Economic DevelopmentAccomplishmentsAccomplishments for 17-18• Transitioned management of Stoke Entrepreneur Center to
Hickory & Rail Ventures• Assisted in opening Embassy Suites by Hilton Denton Convention
Center• Located US Cold Storage and expanded Fisher59• Increased year-over-year participation in Shop Here on Purpose
(SHOP) Denton program • Launched new outreach programs, including the “Denton
Developments” video series and an economic development column in the Denton Business Chronicle
• Revised City of Denton Policy for Tax Abatement and Incentives• Implemented new performance measures
Economic DevelopmentKey Performance Metrics
Performance Measure FY 17-18 Target Q1 & Q2 Total
# RFPs returned in target industry sectors (State and DRC)
20 7
# direct leads worked (baseline data collection year) 16
# workforce development activities or grants facilitated
12 31
# Downtown properties redeveloped
6 6
# Downtown BRE visits 24 7
# general BRE visits 48 17
Business assistance provided (baseline data collection year) 239
Participation in small business programs
10% increase over FY16-17 29.5% increase
Economic DevelopmentGoalsGoals for 18-19• Revise the Public Improvement District Guidelines to clarify
the City’s position on the use of residential and commercial public improvement districts.• Leverage Denton’s designation as an Official Music Friendly
Community by the Texas Music Office and a Film Friendly Certified Community by the Texas Film Commission• Streamline operations of the Public Art Committee• Explore Denton’s participation in the Texas Commission on
the Arts’ Cultural Districts program• Continue implementation of the business retention and
expansion program
City Economic
Development
Business Development
Entrepreneur-ship
Workforce Development
Community Relations
Project Administration
Cultural Affairs
Economic DevelopmentBudget Emphasis
The Department of Economic Development promotes shared prosperity in Denton.
We offer support and services to businesses of all sectors and sizes through a variety of strategic efforts.
RecruitmentRetentionDowntown
StokeSmall Business Programs
PartnershipsGrants
DBC column“Denton Developments” on DTVSpeaking engagements
Special DistrictsBoards/CommitteesIncentivesLong-term projects
MusicFilmPublic Art
Economic DevelopmentFTEs By Functional Area
FTEs By Functional Area FY 2014-15Actuals
FY 2015-16Actuals
FY 2016-17Actuals
FY 2017-18Budget
FY 2018-19Proposed
Administration 5.75 6.75 6.75 5.75 5.75
Total FTEs 5.75 6.75 6.75 5.75 5.75
6
Economic DevelopmentStaffing
Caroline Booth
Director of Economic Development
Michelle CunninghamBusiness Development
Officer
(workforce, retention/expansion, Public
Art)
Christina Davis
Economic Development Specialist
(recruitment, marketing, small business)
Julie Glover
Program Administrator
(Downtown, music, film)
Erica Sullivan
Economic Development Analyst
(project analysis, special districts, incentive admin.)
Michelle CoughlinAdministrative Assistant
Economic DevelopmentCost Containment Strategies
Cost containment strategies:•Monthly meetings among Economic Development,
Finance, and Legal departments
• Cross training between Economic Development and Finance staff
• Internal cross training with Economic Development staff
• Fully leveraging existing staff
Economic DevelopmentProcess Improvements
Completed process improvements:• In-house development of Access system to track performance
measures
Future process improvements:• Document standard operating procedures for critical
functions
Economic DevelopmentRevenue / Expenditures
• Chapter 380 agreements for Victor, US Aviation Group, and Business Air were terminated in FY 2017-18 so not included in FY 2018-19 budget
• WinCo Distribution Center Ch. 380: $87,000 budgeted increase
• Rayzor Ranch Ch. 380: $468,000 budgeted increase
• O’Reilly Ch. 380: $1.3 million budgeted increase
• Buc-ee’s Ch. 380 (first year): $187,000 budgeted
• Operations budget less Ch. 380 rebates: $100,525
Economic DevelopmentBudget Highlights
Expenses FY 2014-15Actuals
FY 2015-16Actuals
FY 2016-17Actuals
FY 2017-18Budget
FY 2018-19Baseline
Personal Services $554,973 $575,393 $625,099 $649,372 $676,070
Materials & Supplies 32,440 31,434 29,260 56,643 39,650
Maintenance 576 - - 10,600 5,600
Insurance 9,034 9,724 2,039 6,288 8,437
Miscellaneous 177,426 211,891 318,730 91,397 85,397
Operations 1,941,251 2,049,990 2,864,174 3,589,208 5,099,055
Cost of Service 31,231 36,268 37,498 54,563 42,801
Fixed Assets 103,841 112,435 - - -
Total $2,850,772 $3,027,135 $3,876,800 $4,458,071 $5,957,010
Economic DevelopmentOperations Detail: Ch. 380 Rebates
Description FY 2018-19
Sally Beauty $24,250
WinCo DC 306,171
O’Reilly 1,402,514
Buc-ee’s 187,500
Westgate Business Park $35,083
Cont. -
Description FY 2018-19
Schlumberger 60,000
Mayday 41,450
Denton Crossing 589,945
Unicorn Lake 76,220
Rayzor Ranch 1,956,747
Golden Triangle Mall 119,480
Grand Total $4,799,360
Economic DevelopmentOperations Detail: Active Ch. 380 Project Net Revenue
Project & Initiation Year
2017 Net Revenue
Cumulative Net Revenue
Denton Crossing (2005) 1,685,729 19,216,681
Schlumberger (2007) 1,102,058 2,648,305
Unicorn Lake (2010) 1,032,431 6,837,429
Rayzor Ranch (2012) 2,224,372 13,243,724
Mayday (2014) 18,681 69,090
Westgate Business Park (2016)
19,943 38,064
Golden Triangle Mall (2016)
1,896,730 9,107,839
Total $7,979,944 $51,161,132
Questions / Comments
Economic Development