The city of Plano staff is looking to revitalize its aging retail corners through the potential use of grant funding.

At a Monday Plano City Council meeting, Special Projects Director Peter Braster presented possible grant opportunities to increase commercial property values that will in turn increase adjacent neighborhood property values.

Some prior examples Braster used as successful revitalization projects include Assembly Park, Collin Creek Mall and the Market off 18^th Street.

“The highest compliment we can receive is if residents think this is a completely new shopping center,” Braster said.

Some of the grants proposed included a location grant to entice quality retailers to occupy space in aging shopping centers to catalyze revitalization and lease-buy downs to remove retailers who financially inhibit the shopping center. The buy-down is something that should be considered a last resort, Braster said. For a more cohesive and aesthetically pleasing look for the center as a whole, Braster proposed grants for façade improvements and new signage, in addition to landscaping grants, repaving and lighting improvements to ensure well-lit spaces without spillover into neighborhoods.

For retails areas that stay vacant for extended periods and show no prospects, Braster also proposed a grant to help property owners with demolition services to construct new buildings for retail.

Plano City Manager Mark Israelson said these grants should be considered as tools in the toolbox as the city focuses on revitalization.

Plano City Councilmember Anthony Ricciardelli said he would rather the city focus on grants that would allow for more public improvements, like lighting and landscaping, rather grants for private benefit. Braster said that the grants that may privately benefit a property owner or business will lead to higher property values, which will improve adjacent neighborhoods’ property values.

Plano City Councilmember Kayci Prince proposed having landscape improvements that encourage more social gatherings that could replace several empty parking spaces in aging retail centers.

After hearing council feedback, city staff aims to put together a pilot program to begin revitalizing Plano’s retail centers.