HomeMy WebLinkAboutIR 8528 INFORMAL REPORT TO CITY COUNCIL MEMBERS NO. 8528
d6oTg!�'t Date: 9/23103
To the Mayor and Members of the City Council
Page I of 1
Economic Development Initiative — Special Project Grants for Building
flays Restoration and Revitalization of the Polytechnic Heights Urban Village
In February 2002, the City Council unanimously selected the Polytechnic/Wesleyan Village project
for Economic Development Initiative (EDI) Special Projects funding for the FY 2003 Federal
appropriations process. The City requested $1 million for brick and mortar construction, renovation
and rehabilitation within the Polytechnic Wesleyan commercial core along East Rosedale Street
between Beach Street and Bishop Street. The City received two EDI - Special Project grants
totaling $961,212 for the revitalization of PolytechnicNVesleyan urban village. The Polytechnic/
Wesleyan urban village is one of ten urban villages for which the Commercial Corridors Task Force
targeted for redevelopment.
The project referenced in the Conference Report (HR 108-10) accompanying the VA-HUD-
Independent Agencies Appropriations Act of FY 2003 specifies two line-item appropriations:
0 $223,538 for building restoration in the city center (B-03-SP-TX-0760); and,
0 $737,674 for the revitalization of the Fort Worth Polytechnic Heights Historic Commercial
and Educational Center (B-03-SP-TX-0767).
The smaller grant provides EDI funds to leverage private-sector investment to refurbish the
commercial and retail buildings along E. Rosedale Street within the project areas. The larger grant
provides funds to leverage the development of an infill two-story mixed-use office/residential
building along the corridor as well as support construction, infrastructure and pre-development
funds to redevelop the area. The Polytechnic/Wesleyan Urban Village projects are to serve as a
redevelopment catalyst and create jobs and housing opportunities for the immediate area.
In order to secure access to the appropriated funds, the City must formally apply for and execute
appropriate grant agreements with the U.S. Department of Housing and Urban Development. On
the September 30, 2003 Council Session, City Council will consider approval of the M&Cs to
formally apply for an execute documents for the grants. The EDI funds do not have a matching fund
requirement.
City staff is working with a citizen-led task force, chaired by Southeast Fort Worth, Inc., in the
disposition of the grant funds. Existing property owners and three other organizations participate in
the task force: the Polytechnic Community Development Corporation, Texas Wesleyan University,
and Southeast Fort Worth, Inc. The Polytechnic Heights/Wesleyan Corridor Strategic Plan for
Redevelopment in 2001 and Commercial Corridors Task Force Revitalization Strategy in 2002
guide the efforts of the task force and use of the EDI grant funds.
The Central City Revitalization and Economic Development (CORED) Committee will review the
detailed planned expenditure of funds. City Council will approve any contracts funded through these
grant funds. The projects are expected to be completed in June 2005 and are located in Council
District 8.
Ja So
City Manager
ISSUED BY THE CITY MANAGER FORT WORTH, TEXAS