Denton's longtime grant for fixing up downtown buildings would narrow what it pays for and steer more money toward empty storefronts and historic properties under a rewrite going to a city advisory board Wednesday.
The Tax Increment Reinvestment Zone Number One board meets at noon Nov. 18 to make a recommendation on the revised Downtown Reinvestment Grant policy. Since the program began in 2007 it has handed out $1,160,755. It was first funded with $100,000 a year in mixed beverage taxes and has been paid from the downtown tax increment fund since 2018.
The board raised this year's allocation from $200,000 to $300,000 in June, and staff say nine applications seeking a combined $330,000 are waiting to be submitted.
What would change
According to the staff report and draft policy:
- Paint, signs and impact fee reimbursements would no longer be eligible.
- Projects with more than $3 million in capital investment could not get the grant, though staff could steer them toward other economic development incentives.
- Facade grants would cover rear and side walls, not just storefronts, but only for buildings in the Courthouse Square historic district, designated landmarks, or projects seeking historic tax credits. Awnings and fire suppression systems would carry the same limits.
- Utility and code upgrades would be renamed commercial finish-out and could include water, sewer, electrical and Americans with Disabilities Act work.
- No more than two fire suppression grants would be approved per year.
- Applications would move online, and an applicant turned down could not reapply until the next fiscal year.
Most grants would remain a 50% match capped at $50,000 per application, with awnings capped at $5,000. Scoring would reward things such as reusing vacant buildings, keeping hours before 9 a.m. or after 7 p.m., hiring Denton contractors, adding at least 10 downtown homes, and creating jobs.
Staff say the goals include keeping Denton competitive with peer cities, following the Design Downtown Plan and spreading investment beyond the square to the rest of the expanded zone.
