The City of Grand Prairie Redevelopment Program (the “Program”) provides financial incentives for existing retail and commercial buildings that exhibit signs of aging such as deteriorating façades, outdated signage, and obsolete design. The purpose of the Program is to enhance the tax base and promote the revitalization of the neighborhoods surrounding these buildings. The City seeks to attract new retailers and restaurants that will provide unique shopping and dining opportunities in Grand Prairie. To accomplish this the City has created a financial incentive program to encourage property owners to improve these types of properties. The financial incentives include assistance with demolition and exterior renovations, including façade improvements.
This Program was established and approved by City Council resolution and is made in the exercise of the City’s governmental functions in the interest of the health, safety, and welfare of the general public and for economic development purposes pursuant to Chapter 380 of the Texas Local Gov’t Code.
The City of Grand Prairie will demolish strip centers for no up-front cost to the property owner. After the demolition is complete, the City will record a lien on the property for the cost of the demolition and to protect the economic development and other public purposes of the Program. If new improvements are completed within 24 months, the City will apply an economic development grant incentive to the lien by reducing 25% of the lien annually over a 4-year period. After 4-years, the lien will be fully released, subject to the terms of this Program and a Chapter 380 Agreement with the City.
The City will consider reimbursing eligible expenses for exterior improvements, subject to the terms of this Program and a Chapter 380 Agreement with the City: Eligible Expenses include landscape enhancements, parking lot improvements, signage upgrades, window replacement and façade improvements. If the redevelopment of the property is mixed use or office, the City may also consider reimbursement of additional costs such as certain tenant improvement expenses.
The reimbursement would be based on the amount of the investment as follows with a maximum reimbursement of $100,000.
The City will also review and evaluate the potential for related public improvements such as roadways, medians, and right-of-way landscaping.
To qualify for the City of Grand Prairie Retail Redevelopment Program the following criteria must be met:
- The building must have been originally constructed at least 20 years ago.
- The cost of the proposed improvements must be a minimum of $25,000.
- The proposed improvements must have a positive impact on the surrounding neighborhoods.
- The applicant must be the owner of the building (the City will not work with individual tenants).
- The building owner will complete the City of Grand Prairie Retail Redevelopment Program Incentive Application and submit it to the Grand Prairie Economic Development office
- Grand Prairie Economic Development will review the application and determine if all eligibility requirements have been met.
- The application will be presented to the Grand Prairie City Council for consideration.
- If approved by City Council, a Chapter 380 Agreement will be drafted outlining the terms of the incentives being offered.
- Once the owner completes the actions required by the Chapter 380 Agreement, the owner will need to submit satisfactory documentary evidence supporting the requested expenditure for which the owner is seeking to be reimbursed to the Budget Analyst in the City’s Finance & Budget Department for review.
- Once the Budget Analyst confirms all terms of the Chapter 380 Agreement have been met, the City will issue payment in the form of a check to the property owner listed on the Chapter 380 Agreement.
- In the case of demolition, the property owner will receive an annual statement from the City informing them of the status of the lien reflective of any reductions.