DDA Meeting And New Land!!!

[Dwayne Wilder]

DDA buys DISD property

The Denison Development Alliance voted to buy the 153 acre tract at the corner of US 75 and FM 84 in Denison. The Denison school system currently has the site on the market after initially buying it for a new high school building. DISD subsequently bought another site – just to the north- where construction has started on a new high school.

DDA will buy the land for $1.25 million contingent on the Denison City Council (Monday) and the DISD School Board (Tuesday) approving the sale. DDA wanted the land because of the lack of sites that are suitable for new industry. Currently, DDA has filled all empty buildings in town and only has small lots that could be presented to potential new companies. None of them are large enough to attract a significant tenant.

The US 75/FM 84 site is also considered the terminus for the future Grayson County Tollway from Dallas, according to reports.

The DDA board also approved a draft budget for the city council with several minor expense increases. Income is expected to increase as well. The board also voted to have local accounting firm McClanahan and Holmes do the annual audit. Staff and board members were pleased that the firm could have the audit done by Jan. 31.

The new budget includes $3,573,192.16 for new incentives and Scott Smathers, vice president for business development, noted that the marketing expenses are traditionally less than budgeted. There was some discussion about the new Geographic Information Service program, but the directors agreed that it needed to continue for the growth of the city in general. DDA will also continue its $33,000 portion for marketing of the airport.

Smathers added that no new infrastructure projects were set for the city from the budget.

In his monthly report, Smathers noted that the past month had been an ‘industrial’ month with work geared toward local industries. His office had also worked with national retailers about Denison, a local low income loan program and with Caterpillar issues in its move downtown.

The retail Catalyst Report continuing, the latest Cigna Insurance announcement and possible projects at FM 691/US 75 also have come across his desk in the past month.

“Our hotel/motel tax is booming. Our hotels are getting better and Denison is getting a better reputation for our hotels,” said Smathers. “It is continuing to increase.”

Smathers also noted an award the Texas Economic Development Commission gave to DDA recently for Economic Excellence in 2011. DDA President Tony Kaai was on vacation and not at the meeting.

In addition, the board approved the resignation of board member Larry Evans due to health reasons. Former Denison Mayor Robert Brady is scheduled to replace Evans and will be sworn in on Wednesday during a special meeting, which will include discussion on three projects and real property.

In other business, the board approved the July Financial Statements and reviewed the monthly investment report.

The next regular DDA board meeting will be Sept. 20 at 1:30 p.m. at the DDA offices, 311 Woodard Street downtown; the meeting is open to the public.