HomeMy WebLinkAboutIR 6918 INFORMAL REPORT TO CITY COUNCIL MEMBERS No. 6918
aTo the Mayor and Members of the City Council March 8, 1984
subject: SOU`T'HEAST QUADRANT' EC'ONO�IIC DEVELOPMENT
A number of groups and individuals have met in recent months to discuss
ways to stimulate economic development in the Southeast Quadrant of the
City. Many of these individuals have noted that little new investment
is occurring in the near and middle southeast side, even though access
to the area, land cost, and metroplex location, are positive factors for
this area of the City.
One of the groups, Allied Communities of Tarrant (ACT), a local
coalition of Churches, has designated Polytechnic as one of the areas of
special emphasis. ACT recently formed a Poly Strategy Committee that
has been merged with the Mayor's Task Force on Poly to work together to
develop a long-range strategy for economic development in the Poly area.
The Poly Strategy Committee discussed at length, the mechanics of
preparing a long-range strategy. They were particularly sensitive to
the idea that the study must be a practical and realistic way of making
economic development improvements in this area of the City.
The Committee met with a representative from City Venture Corporation,
(CVC) which is a for-profit corporation based in Minneapolis, Minnesota
and discussed sane of the achievements.
CVC is a consortium of corporations, churches, and community
organizations formed in 1978 to help communities achieve revitalization
and a better investment image through job creation.
The scope of CVC's services range from 1) designing and facilitating
workshops in which local leaders analyze their community's job creation
potential and develop a strategy to realize that potential; and 2)
managing the implementation of the strategy.
CVC has worked in over twenty cities, including Toledo, Ohio; San
Antonio, Texas; Baltimore, Maryland, Philadelphia, Pennsylvania,
Charleston, South Carolina; and Battle Creek, Michigan.
City Venture has developed a concept called the Job Creation Network
which emphasizes formation and growth of small businesses. Elements of
the Network, same of which are already present in Fort Worth and would
not be duplicated, include:
1. An Entrepreneur/Business Identification Program,
2. A Small Business Cooperation Office (similar to FWEDC and
the Hispanic Chamber of Cammerce);
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L ISSUED BY THE CITY MANAGER -- FORT WORTH, TEXAS --
INFORMAL REPORT TO CITY COUNCIL MEMBERS No. 6918-p.2
,Ft T HFO March 8, 1984
~0i fo;?), To the Mayor and Members of the City Council
�TExAy. Subject: SOUTHEAST QUADRANT BC.'ONOMIC DEVELOPMENT
3. A Seed Capital Fund to assist in raising working capital
to meet the start-up needs of small businesses;
4. A Business and Technology Center to furnish inexpensive
space & services for small businesses, serving as
incubator space for the crucial years of a small
business.
The Poly Strategy Comittee met on February 13, 1984 and voted to
request CVC to conduct a preliminary assessment of the Southeast
Quadrant (at no cost to the City). This assessment would cover both the
economic development problems facing this area and the resources
available to address them. There is no commitment to accept CVC's
proposal following the preliminary assessment.
If CVC's proposal is accepted, Fort Worth can choose to contract for the
entire range of services (strategy developnent and implementation of
items 1-4) or to contract for one phase at a time, with no commitment to
go beyond the first phase. The first phase is Cammunity Assessment and
Consensus, in which several strategy alternatives are developed and
presented to local leaders in a two-to-four day workshop. The outcome
of the workshop would be a strategy developed by the participants. The
workshop would serve to:
1. Bring public and private sector leaders together in a
common setting;
2. Draw up a blueprint for better using existing resources
and for filling the gaps identified in the assessment;
3. Create a strong carmunity commitment regarding job
creation and economic revitalization.
The Poly Strategy Committee has requested that the City join in the
request to CVC to conduct the preliminary assessment. Unless otherwise
directed, the staff will prepare a letter for the Mayor's signature
formally inviting CVC to Fort Worth. This letter will be co-signed by a
representative from the private sector. y'
Robert L. Herchert
City Manager
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L ISSUED BY THE CITY MANAGER - FORT WORTH, TEXAS