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