HomeMy WebLinkAboutIR 0683INFORMAL REPORT TO CITY COUNCIL MEMBERS
No. 23-0683
To the Mayor and Members of the City Council
May 16, 2023
Page 1 of 1
SUBJECT: PROPOSED FORMATION OF HISTORIC FORT WORTH
STOCKYARDS, INC.
For many years, City officials and stakeholders have discussed creating a nonprofit planning, advocacy,
and management organization for the Historic Stockyards. The vision for this entity emanates from models
successfully implemented by Downtown Fort Worth, Inc. and Near Southside, Inc. These membership
organizations serve as district liaisons, advocates, and information sources for property owners, business
owners, residents, lenders, community organizations and policy makers. Mayor Mattie Parker and
Councilmember Carlos Flores have asked City staff to assist with the formation of a nonprofit entity for the
Stockyards district.
Staff recommends allocating funds from the existing Stockyards Public Improvement District (PID) to
contract with an experienced, part-time professional to create Historic Fort Worth Stockyards, Inc. and
manage its initial operation, and to assist in developing the FY24 PID service and assessment plan.
Historic Fort Worth Stockyards, Inc. (HFWS) will be governed through the adoption of bylaws and by a
board of directors selected by the membership of the organization. The board of directors would hire a
permanent executive director for HFWS. Once created, the entity would be able to accept donations and
membership dues from interested parties.
Staff has reviewed economic development district and zoning district boundaries and proposes the
attached boundary for the area to be represented by Historic Fort Worth Stockyards, Inc. Staff anticipates
that the City would contract with HFWS to manage the PID and support the PID Advisory Board.
For any questions, please contact Dana Burghdoff, Assistant City Manager, or Robert Sturns, Economic
Development Director.
David Cooke
City Manager
Attachment
ISSUED BY THE CITY MANAGER
FORT WORTH, TEXAS
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