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HomeMy WebLinkAboutRes 2020-05-728 Economic Development Strategic PlanCITY OF ANNA, TEXAS RESOLUTION NO. Qc A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF ANNA, TEXAS, ADOPTING AND APPROVING THE ECONOMIC DEVELOPMENT STRATEGIC PLAN; AND PROVIDING AN EFFECTIVE DATE. WHEREAS, on May 281 2019 the City of Anna City Council adopted the City of Anna Strategic Plan identifying economic development as a top priority and its desire for the Anna Community Development Corporation (the "CDC") and the Anna Economic Development Corporation (the "EDC") to develop an economic development strategic plan; and WHEREAS, the Board of Directors of the CDC and the EDC and Staff worked with Catalyst Commercial to develop a strategic plan that will make Anna successful as it competes for economic development opportunities that diversify the tax base; and WHEREAS, the City Council desires to begin implementing the plan to promote new and expanded business enterprise in the City of Anna; NOW THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF ANNA, TEXAS, THAT: Section 1. Recitals Incorporated. The recitals set forth above are incorporated herein for all purposes as if set forth in full. Section 2. Approval of Strategic Plan. The City Council hereby adopts and approves the Economic Development Strategic Plan attached hereto as EXHIBIT A, incorporated herein for all purposes. Section 3. Effective Date. This resolution shall become effective immediately upon its passage. PASSED by the City Council of the City of Anna, Texas, on this the 12t" day of May 2020. ATTEST: ti01%""1011AP Carrie Land, City Secreta City of Anna, Texas PROVED: J= May*ot,-Nate Pike EX RESOLUTION NO., <�$ Page 1 of 1 2020 ECONOMIC DEVELOPMENT STRATEGIC PLAN 77 .; 2020 ECONOMIC DEVELOPMENT STRATEGIC PLAN A special thanks goes to the Community Development Corporation and the Economic Development Corporation Boards and staff for contributing ideas and crafting nuanced strategies to advance economic development for the City of Anna. This process culminated over several months, including many meetings and workshops and extensive input. CDC and EDC Board Members: Place I - Anthony Richardson (President) Place 2 - Rocio Gonzalez (Secretary) Place 3 - Doris Pierce Place 4 - Bruce Norwood Place 5 - Stan Carver (Vice -President) Place 6 - Terry Farrell Place 7 - Michelle Hawkins Joey Grisham Economic Development Director Taylor Lough Economic Development Manager Beginning in 1995, Anna has seen explosive growth as it is transitioning from a small, rural community to a fast -growth suburb of the DFW metroplex. Since 2000, Anna's population has increased 1,125%. The City has ranked one of the top 6 fastest-growing cities in North Texas since 2010 (Dallas Business Journal, Nov 29, 2018). Strong residential growth, a stellar school district, a diversity of new projects and prime location on US Highway 75, State Highway 5 and State Highway 121, as well as frontage along the Collin County Outer Loop, make Anna an excellent choice for corporations and residents alike. With ample land options, a historic downtown, and multiple planned developments already in progress, Anna's City Council is strategically and effectively managing this unprecedented growth. In 2019, they tasked the CDC and EDC with developing a bold economic development plan. In response, the CDC and EDC embarked on a detailed assessment of the community, participated in workshops, vision -setting sessions, SWOT analyses, identification of important metrics, and more. This initiative resulted in a strategic plan that identifies the vision, mission, and core values of the City of Anna along with goals, objectives, and tactics. This strategic plan, once approved by the City Council, will shepherd the economic development efforts over the next 3 to 5 years and serve as both conduit and guide in evaluating projects and making decisions that will continue to draw businesses and residents to Anna, foster economic diversity, support the infrastructure to continue sustainable growth, and guide future housing decisions. Having bothType-A EDCandType-B CDCcorporations,Annacan facilitatecreativepublic/ private partnerships that will realize the vision and objectives outlined. Furthermore, the Chamber of Commerce serves as an important and strategic partner in sustaining and expanding the community's economic vitality. The Chamber's focus on business education, fostering a welcoming business climate, and promoting a community spirit that engages neighbors, continues to raise quality of life standards reinforced by the City's strategic priorities. This strategic plan is an evolving plan and should be revisited annually as market conditions evolve. As City Council, the Chamber of Commerce and the EDC and CDC continue to raise the community's profile and reinforce its identity at all levels, Anna will continue to flourish with its business -friendly tax environment, multiple north -south- east -west transportation corridors, and growing neighborhoods and amenities. Economic Vitality in Anna may be evidenced by: • Higher quality developments • Additional catalyst projects in the downtown area • Mixed-use development along FM 455/75 • Strategic public/private partnerships • Increased investment in physical infrastructure • Stronger regional partnerships VISION Anna has created a balanced and sustainable tax base that invites high quality jobs, facilitates excellent quality of life with well-maintained and first-rate infrastructure, and offers a wide range of housing and public facilities that build community identity and pride and engage neighbors in meaningful ways. Now �� MISSION EDC - To identify and support opportunities that expand the city's business tax base and promote job growth in Anna. CDC - To identify and fund projects that enhance the quality of life in Anna and support the work of the EDC in the community. CORE VALUES As part of this initiative, the stakeholders outlined key principles that should guide future economic develop- ment decisions for the community, as follows: 1. Unique 2, First -Rate Ilk 3. Community Oriented - 4. Diversified 5. Exceptional Quality of Life 6. Robust 7. Well -Maintained TARGETED OUTCOME Increase Economic Diversity Ariria *EDC marina * CDC • The ratio of businesses open to the total number of EDC meetings with retailers, restaurants, entertainment users, brokers, or developers • Number of meetings with prospective/targeted primary employers, partners, and landowners • Number of website/social media hits/clicks/likes • Number of new commercial permits/COs per year • Net annual change in sales tax collections • Net annual increase in commercial property value • New commercial square footage per year • Number of events attended/hosted by the EDC per year 5 INCREASE ECONOMIC DIVERSITY Tax MON ml maim 1 �NL . 444 � 4 - -444 Pervaft 4ft, pIte `noW 1. Build the organizational infrastructure to support a successful economic development program that achieves local, state and national recognition 2. Strengthen the City's commercial and employment base by focusing on catalyst areas and other opportunity areas 3. Continue to foster relationships with businesses, partners and allies 4. Create and promote a positive identity that differentiates Anna from surrounding communities using an integrated marketing/communications strategy 5. Transform Downtown Anna into a vibrant district 6. Improve the quality of life in Anna 7. Increase variety of housing in Anna 8. Improve the aesthetics and appearance of the community through public and private investment 9. Develop first-class infrastructure in Anna 10. Increase retail, restaurant, and entertainment options in Anna -ag - -444 Pervaft 4ft, pIte `noW 1. Build the organizational infrastructure to support a successful economic development program that achieves local, state and national recognition 2. Strengthen the City's commercial and employment base by focusing on catalyst areas and other opportunity areas 3. Continue to foster relationships with businesses, partners and allies 4. Create and promote a positive identity that differentiates Anna from surrounding communities using an integrated marketing/communications strategy 5. Transform Downtown Anna into a vibrant district 6. Improve the quality of life in Anna 7. Increase variety of housing in Anna 8. Improve the aesthetics and appearance of the community through public and private investment 9. Develop first-class infrastructure in Anna 10. Increase retail, restaurant, and entertainment options in Anna Goal 1) Build first-rate organizational infrastructure to support a successful economic development program that achieves local, state, and national recognition Objective A) Create an incentive policy that maximizes private investment by leveraging economic development funding with other available resources Action i) Explore best practices and stay up-to-date on innovative incentive policies and maintain a clear and effective policy applicable for Anna Action ii) Continue utilizing Impact Data Source software to ensure all incentives meet minimum thresholds and objectives Action iii) Be transparent by listing incentives out on Economic Development website Objective B) Maintain organizational excellence Action i) Complete an audit of FY 2020 performance measures and explore additional standards/metrics to achieve in FY 2021, and include in the annual report Action ii) Consider adding staff members for expanded administrative support and outreach Objective C) Maintain positive relationships with key property owners/land representatives in Anna Action i) Maintain a list of on -market properties, including concepts, site plans, available space/acreage, costs, key contacts, summary of project, and other attributes Action ii) Create a database of off -market properties and landowners, including size, ownership, point of last contact, current use of property, and willingness to develop/sell Action iii) Maintain a list of affected property owners due to development of projects, including adjacent development, road/utility expansion, future right-of-way acquisition, and other activity that may impact property owners or businesses Objective D) Aggressively market Anna by maintaining a competitive outreach through strategic industry organizations, real estate brokerage/development firms, and events Action i) Participate in Annual ICSC ReCON and ICSC Red River Conferences and consider engaging with third parties to assist with market research, setting up meetings, and targets Action ii) Attend and host booth at NTCAR Annual Expo to promote Anna to local brokers and developers Action iii) Attend/sponsor BISNOW to promote Anna Action iv) Attend Annual Retail Live Austin to interface with national retailers and brokers Action v) Consider attending select NAIOP conference for industrial targets Action vi) Host development forums that target specific industries like industrial, medical, etc. Action vii) Leverage local real estate brokerage partnerships by meeting with key companies monthly Action viii) Maintain effective communication with Anna "neighbors" and "partners" on the value of EDC/CDC by speaking at HOA meetings/events and providing a monthly newsletter Resources Create a "one pager" that highlights the Mission, Vision, Values, and Strategic Plan as well as completed projects in prior FY. "Partners" include The North Texas Commission, Collin County Realtors, Collin County Business Alliance, Collin College, Regional EDC's (Sherman/Denison, McKinney, Melissa, Van Alstyne, Celina) Action ix) Continue utilizing Placer Al data and other resources that provide updated market information and trends on Anna Objective E) Apply for annual awards from the Texas Economic Development Council (TEDC) and the International Economic Development Council (IEDC) Goal 2) Strengthen the City's commercial and employment base by focusing on catalyst and opportunity areas Objective A) Support the activation of Anna Town Center (Chief Partners and Edge Realty) Action i) Continue to partner with landowner and property brokers to identify and procure tenants that can increase tax base and increase retail/commercial in Anna Action ii) Encourage first class design and merchandising for future projects Objective B) Support the activation of the Standridge tract Action i) Work with landowner to create a merchandising plan for first-rate prospects Action ii) Support developer with future infrastructure needs and opportunities to cooperate with adjacent properties to ensure sustainable infrastructure strategies and coordinate among property owners Objective C) Support the vision and activation of Downtown Action i) Work with City on vision, masterplan, policies, and regulation for the activation of Downtown Objective D) Support the activation of the southeast corner of 455/75 Action i) Develop relationship with landowner and help create strategy for activation Objective E) Support the activation of the southwest corner of 455/75 (Flying J) Action i) Explore opportunities to work with the property owner on gateway elements, landscaping, anA other upgrades Objective F) Activate the Business Park Action i) Create strategy for the activation of the Business Park with targeted uses that attract primary jobs to Anna Action ii) Support broker to promote and market the property Action iii) Complete a targeted industry analysis to refine target uses, sectors, and messaging Objective G) Explore the activation strategy for the Outer Loop - "employment corridor" Action i) Support the City in creating a vision for the Outer Loop properties Action ii) Explore potential land uses for strategic properties within the Outer Loop properties Objective H) Support the development of commercial and residential space in developments on the western side of US 75 including Mantua (Risland), Villages of Hurricane Creek/Sherley Tract (Centurion American), and Oak Ridge (Tomlin) Action i) Continue to monitor and support the developers in refining the vision, obtaining entitlements that align with targets and infrastructure strategy for the properties Objective I) Support the developers in activating class A corporate office and other commercial and residential development Action i) Develop criteria/standards for incentives and special districts (i.e. PIDs/TIRZ Districts) Objective J) Support the vision for Hwy 121 frontage Action i) Explore a merchandising strategy that can activate the 121 frontage and establish service for the eastern portion of Anna Objective K) Have City Council and CDC/EDC Board members tour benchmark developments that align with the community vision Goal 3) Continue to foster strong relationships with community and regional partners Objective A) Work with Collin College and other higher education institutions to locate in Anna Action i) Identify sites that fit criteria for higher education and supporting uses Objective B) Create a business retention and expansion program to better address the needs of local businesses and employers Action i) Host an annual business appreciation event to engage and promote local businesses 10 i Action ii) Worl< with the Greater Anna Chamber of Commerce to develop a strategy and policy for local business visits to identify opportunities for retention and expansion and monitor business health Objective C) Maintain strong partnership with the Greater Anna Chamber of Commerce and annually review CDC Agreement Objective D) Maintain strong relationship with Anna ISD and host periodic meetings for project updates Objective E) Meet periodically with other regional EDOs along the 75 corridor to promote regionalism and cooperation Goal 4) Create and promote a positive identity that differentiates Anna from surrounding communities using an integrated marketing/communications strategy Objective A) Support a citywide awareness and marketing initiative of Anna to improve regional and national awareness Action i) Explore developing a tag -line for the EDC/CDC that underscores the mission of the EDC/CDC that aligns with the city-wide branding efforts in partnership with a third - party firm Objective B) Create award-winning promotion/marketing/advertising materials, electronic media, website, and social media Action i) Maintain a professional website that includes continuous updates including "why Anna," that is current on available properties/buildings, market data and reports, quick facts, current projects, contacts, and other relevant data to advance economic development Action ii) Explore effective marketing/advertising channels that can extend the brand of Anna to future visitors, employers, residents, prospects, and workers (regional/local) Action iii) Leverage social media to promote internal and external events Action iv) Continue to work closely with the Chamber on events to support local businesses and increase tourism Action v) Continue to contribute to Dallas Business Journal digital articles to promote Anna as a choice community in North Texas Action vi) Speak at local and regional events to market Anna including but not limited to service organizations, Collin County Association of Realtors, NTCAR, North Texas Commission, Collin County Business Alliance, and the DFW Marketing Team Goal 5) Transform Downtown Anna into a vibrant district Objective A) Work closely with the downtown Master Plan consulting team to incorporate key ideas and components to create a strong downtown district Action i) Explore opportunities to improve signage, upgrade infrastructure, expand landscaping, increase design standards, update parking, and other infrastructure projects (e.g. restore water tower, etc.) Objective B) Increase the number of small businesses in Downtown Anna Objective C) Recruit residential and commercial projects that align with the downtown vision Goal 6) Improve the quality of life in Anna Objective AN Continue to enhance city parks and the parks and trail system in Anna and explore opportunities to connect into regional trail system (Parks and Trails Master Plan) Objective B) Support the City in identifying recreational facility needs Action i) Sponsor a tourism study to understand the potential impacts of tourism and opportunities to increase local and regional tourism Objective C) Encourage developers to incorporate unique amenities into developments Goal 7) Increase variety of housing in Anna Objective a) Encourage housing diversity in Anna 12 Action i) Conduct a housing assessment to determine the types of housing Anna can support, policies, and actions that can improve the health and vitality of Anna's housing stock Goal 8) Improve the aesthetics and appearance of the community through public and private investment Objective A) Integrate design guidelines with development agreements on projects with incentives Action i) Define policy on incentives and development agreements Objective B) Explore other green -ribbon project opportunities Action i) Explore infrastructure improvements planned with TxDOT and coordinate upgrades that can enhance the Anna brand Objective C) Support downtown guidelines and beautification projects Action i) Participate in the downtown master plan and creation of the downtown guidelines and beatification plan to enhance Downtown Anna Objective D) Support the improvement of Anna's gateways and entrances Action i) Explore opportunities to support gateways and entryway features to promote Anna as a choice place Objective E) Explore opportunities to increase unique signage/way-finding/branding for Anna Objective F) Partner with Oncor/GCEC in location of overhead and/or underground utilities Goal 9) Develop first-class infrastructure in Anna Objective A) Engage with developers and landowners to understand infrastructure needs Objective B) Invest in infrastructure projects that enhance the tax base of the community Objective C) Encourage developers to increase fiber infrastructure 13 Goal 10) Increase retail/restaurant/entertainment options in Anna Objective a) Explore third parties that can enhance retail exposure for Anna Action i) Explore developing a study for a city-wide merchandising and retail recruitment plan Objective B) Expand presence at local and national retail conferences Action i) Participate in ICSC events and conferences Resources (1) Create retail collateral that articulates "why Anna" to retailers, brokers, and property owners Resources (2) Develop a plan for ICSC including strategic meetings, leveraging existing brokers and developers, and opportunities for engagement and education Action ii) Participate in Retail Live Austin to advance prospects for Anna Objective C) Foster relationships with local partners Action i) Continuously meet with DFW-based brokers and developers to increase awareness of Anna assets and opportunities 14 15 Business Acquisition Ratio Targeted Prospect Ratio Click Rate Sales Tax Growth Property Tax Growth Number of new commercial COs New Commercial Square Footage Number of Permits Issued Number of events attended/hosted 15 Ratio of Broker/ Number of Number of Web Developer Visits Targeted Prospects Visits 0 Engaged oho �00 _ (ql (Vl 1 Change in Sales Net Annual Increase Net Annual Increase Tax Collection in Commercial in Commercial Property Value Square Footage ® ■��■NONEmin Number of Number of Events �T�C� OF Commercial Hosted a Permits Issued CDC / � 1 CaO THE CITY OF manna EDC.._. ANNA ECONOMIC DEVELOPMENT CORPORATION RESOLUTION NO. 4x060 - 3 I2. A RESOLUTION OF THE ANNA ECONOMIC DEVELOPMENT CORPORATION ADOPTING AN ECONOMIC DEVELOPMENT STRATEGIC PLAN WHEREAS, on May 28, 2019 the City of Anna City Council adopted the City of Anna Strategic Plan identifying economic development as a top priority and its desire for the Anna Community Development Corporation (the "CDC") and the Anna Economic Development Corporation (the "EDC") to develop an economic development strategic plan; and WHEREAS, the Board of Directors of the CDC and the EDC and CDC/EDC Staff worked with Catalyst Commercial to develop a strategic plan with a five-year blueprint that will make Anna successful as it competes for economic development opportunities that diversifies the tax base; and WHEREAS, the Board of Directors of the EDC desires to adopt said strategic plan and begin to implement the blueprint to promote new and expanded business enterprise in the City of Anna; NOW, THEREFORE, BE IT RESOLVED BY THE ANNA ECONOMIC DEVELOPMENT CORPORATION THAT. Section 1. Recitals Incorporated The recitals set forth above are incorporated herein for all purposes as if set forth in full. Section 2. Adoption of Strategic Plan The EDC Board of Directors hereby approves and adopts the 2020 Economic Development Strategic Plan attached hereto as EXHIBIT A, incorporated herein for all purposes. PASSED AND APPROVED by the Anna Economic Development Corporation on this 12tH day of March 2020. ATTEST: � � (�, APPROVED: Anthony ichardson Rocio Got1�e: EDC President EDC Secretary ANNA EDC RESOLUTION NO. 20� ' '� Z. PAGE 1 OF 1