The Frisco Community Development Corporation has allocated $500,000 to support these businesses. City Council and staff discussed how to use the funds at an Oct. 7 work session.
No action was taken by the council, but members directed city staff to continue pursuing the proposal to help businesses with advertising dollars.
The details
The $500,000 will be divided with $300,000 funding gift cards for residents to be redeemed at Rail District businesses and $200,000 to help business owners with advertising.
The city rolled out a pilot program in June where it mailed out gift cards to area residents to be used at Rail District businesses. More than 12,000 gift cards were produced, and 2,853 of them were redeemed.
Rail District businesses could get an allowance to spend on advertising services from a third-party vendor picked by the city, Assistant City Manager Ben Brezina said at the Oct. 7 meeting.
An unspecified amount of money could also fund a campaign to help advertise the Rail District.
The context
This comes as business owners in the area say foot traffic has decreased in the Rail District due to construction, which amounts to fewer customers.
The construction downtown is part of a redevelopment project in the area that is set to cost more than $80 million.
The project includes:
- Reconstruction of Elm and Main streets
- A new pedestrian plaza
- New parking lots and a garage
- Grant program to improve area businesses
What they’re saying
Mayor Jeff Cheney said he was open to more ideas on how to help Rail District businesses while construction continues downtown.
“We want everyone to get through it and then thrive,” Cheney said.
