FY 2011 Popular Annual Financial Report FY 2011 Popular Annual Financial Report | Page 12

Economic Development D Despite a rough economic year nationally, Arlington’s leadership “ This representsdownthe intersection of town revitalization and a vibrant university. ” “This represents the intersection of downtown revitalization and was able to make considerable progress with several initiatives and a vibrant university,” said UT Arlington President James Spaniolo. create new jobs for the community. “We truly believe that partnering together and putting a strategy of implementation together is so important to the future of our City.” Invigorating Downtown Arlington and the University of Texas at Arlington partnered to District began paying a self-assessment in 2011, the first year of build an 1,800-vehicle parking structure downtown in the University’s a five-year term. The assessment raises money for the Downtown new College Park District, which features residential and retail Arlington Management Corporation, which is credited for developing development. Residents and visitors can use the garage for events at Babe’s Chicken Dinner House, the Levitt Pavilion, Founders Plaza, the new 7,000-seat College Park Center, the Levitt Pavilion, and for and Fuzzy’s Tacos. dining and shopping outings. Nearly 400 companies in the Downtown Business Improvement A Tax Increment Reinvestment Zone (TIRZ) allowed Dodson Development to turn a vacant hotel furniture building on Abram Street into the Flying Fish restaurant. The TIRZ provided public funding to redevelop the area, making it easier for the restaurant to open. Flying Fish employed 25 workers when it opened its doors in June. Other new downtown restaurants include Mellow Mushroom pizzeria, Grease Monkey Burger Shop & Social Club, and the Twisted Root Burger Company. Gypsy Riddles Boutique & Gallery, a shop that offers one-of-a-kind fashion pieces and local art, also opened its doors in the heart of Arlington. Creating Jobs Through Expansion City Council passed an ordinance establishing the General Motors site as a reinvestment zone and approved an incentive package to encourage GM to continue making investments in the Arlington plant. As a result, GM announced that the Arlington Assembly Plant was selected over other U.S. locations to receive $331 million in plant renovations. Popular Annual Financial Report for 2011 12 “Challenge, Change, Celebrate, Congra