OEDC Briefs

The Olney Economic Development Corporation board last week discussed traffic studies for Main Street, possible improvements at Lake Olney, and several development questions during a wide-ranging meeting that touched on future economic development priorities for the city.

Traffic monitoring equipment approved The board voted to purchase two portable traffic-monitoring units that will measure vehicle counts, speed, and vehicle types on city streets.

OEDC Executive Director Tom Parker said the data will help the city and economic development officials understand how much traffic moves through Olney and will strengthen applications for state grants and loans tied to projects such as the proposed downtown hotel and lake improvements.

The devices, which cost roughly $8,400 to $10,000 for two units, will likely be placed on Main Street and near Lake Olney.

Board members said the data could be especially useful when applying for state economic development financing.

“It puts you in a better place when you can say, ‘I’ve got X number of people coming in and using this,’” Mr. Parker told the board.

Lake Olney improvements discussed

Board members also discussed the possibility of expanding the city’s Tax Increment Reinvestment Zone (TIRZ) to include Lake Olney. Doing so could allow economic development funds to be used for improvements at the lake and potentially leverage grants from the Texas Parks and Wildlife Department.

Mr. Parker said the change would not alter property values at the lake but would allow development funds to be used there.

“It’s a way to spend that money that’s going to be here to make improvements out there,” he said.

Mayor Rue Rogers said the proposal would require the city to formally annex the lake area and warned that doing so could raise questions about policing, utilities, and enforcement of long-standing residential leases around the lake.

“There are positives, but are there unintended consequences?” Mayor Rogers asked the board.

Board members agreed that the idea needs further study before any recommendation is made.

Downtown project and Main Street improvements Mayor Rogers also updated the board on the city’s downtown revitalization grant, saying the project is nearing the final paperwork stage before funds are released.

The project could include expanded sidewalk improvements, accessibility upgrades and additional pavement work along Main Street and Grand Avenue near the civic center and police department.

City officials are considering modifying the original project scope because sidewalks around the courthouse were already repaired with economic development funds.

Industrial project still under discussion

Mr. Parker said a California company previously considering converting the former Olney Savings building has instead asked the city to explore creating an industrial zone south of town in the TIRZ area.

The company has extended leases at its current location while continuing to evaluate a possible project in Olney.

“There is still a sense of urgency on this thing,” Mr. Parker said.

Bylaws review planned

The board also agreed to create a small committee to review OEDC bylaws and recommend updates to comply with recent changes in state law governing economic development corporations.

Board President Johnny Moore appointed Moore, Phil Jeske and Rick Turner to review the bylaws and bring recommendations back to the full board.