Page 75 - FDI Alliance International Magazine Summer 2020 Digital Interactive Issue

NEW BEGINNINGS

A change in leadership was requested by citizens 500-acre, 50-percent Tax Increment Reinvestment There are other reasons why Redeveloping Freeport’s
within the city demanding that Freeport change Zone that includes the downtown, Brazos River Downtown is a great investment, but in the end,
and re-invent itself. and part of Hwy 288. Freeport wants its business to be successful and
gets the job done ‘together’.
As of October 2019, the city council and the Freeport In June of 2020, after months of public meetings,
Economic Development Corporation (FEDC) has the city approved a new Downtown Zoning that If mixed-use development or retail is in your playbook
made a concerted effort in hiring staff experts in tripled its size and redrafted the code that will now give us a call. We would be happy to show that you
their fields such as a new City Manager, Assistant incentivize four-story, mixed-used developments. can succeed here in Freeport, Texas.
City Manager/Finance Director, a Professional It is the intent of the new Downtown to have retail
Economic Developer, HR Director and recently and some offices on the bottom floor with residential Courtland Holman
Public Works Director to redevelop and enhance live/work units on the upper floors.
the City with a concerted focus on the Downtown. Executive Director
The FEDC and the city are working towards a
With that in mind, Freeport’s new city council started Downtown Revitalization Plan that includes metrics Freeport Economic Development
hiring specialists to reshape the community. The to rehabilitate the downtown beginning in the next
new city manager, various city staff, and economic fiscal budget year. The Downtown Assessment Corporation
development executive director for the Freeport by Retail Strategies has been completed and was City of Freeport
Economic Development Corporation have made presented at the FEDC board meeting on July
great strides within that last 16 months to reverse 14, 2020. ☎
the course of Freeport’s retail decline and incentivize
development. One of the main incentives for investment in Freeport (+1) 979.871.0117 direct
is our designated ‘Opportunity Zone’ and New
Many housing developments and housing Market Tax Credit area that will allow developers ✉
rehabilitation projects with local builders are and business owners to offset their development cholman@freeport.tx.us
underway, and the city is now attracting housing costs. The city will be requesting an expansion
developers from within the Houston MSA to find from the State Texas for the Opportunity Zone and
locations to build new housing within Freeport. NMTC into the downtown south of 2nd street as
this would be an added catalyst of funding sources www.freeport.tx.us
In order to attract development downtown, the and incentives to tremendously revive Freeport.
FEDC approved a Business Improvement Grant in www.freeportedc.com
five categories that focuses on the downtown district The community’s concerted efforts are starting to
to incentivize the development or revitalization take effect as developers are touring downtown.
of existing businesses, as well as the attraction One new business operation has seen the vision
of new business. and is now under construction investing just under
$1 million to rehabilitate four buildings on East
In a major effort to bring back retail to the downtown Park with the intent of acquiring more buildings
district in December of 2019, the city approved a for other retail venues.

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