2026 - City Council Retreat - Economic Development Policy Update

The City of Lewisville City Council held a retreat focused on updating the Economic Development Policy to align with current economic realities and council priorities. Key discussions included targeting specific industries such as medical, life sciences, high technology, outdoor recreation, and the emerging semiconductor sector, leveraging the city's position within the DFW tech hub. The council reviewed focus areas for development including Old Town, I-35 Corridor, and Business 121 Corridor, emphasizing support for local businesses and sustainable projects. They proposed new incentives like a small business grant program aimed at unique local businesses within city focus areas, and a mural grant to enhance public art. Modifications to existing programs such as facade improvement grants and grease trap grants were also discussed, with considerations for funding caps and eligible expenses. The council deliberated on multifamily housing projects, balancing preferences for rehabilitation versus new construction, and emphasized the importance of affordable housing without displacing current residents. Tax abatement policies were reviewed to ensure compliance with state law and to include wage floors based on ALICE thresholds. Overall, the meeting centered on strategic use of incentives and grants to foster economic growth, support local entrepreneurship, and revitalize key commercial areas while maintaining fiscal responsibility and community benefits.