Page 58 - Honorable Mayor and Members of the City Council

In 2014 the expansion of Benbrook Boulevard, the stretch of Highway 377 spanning from Winscott Road/Lakeway Drive
north to the IH20/Loop 820 junction, was started. The Texas Department of Transportation (TXDOT) project includes
the addition of a median and left turn signals across the approximately 1.3 miles of highway. The development is
expected to improve accessibility to businesses along Benbrook Boulevard and to encourage growth by creating more
opportunity for businesses to thrive. This economic growth is anticipated to result in community advancement, to
create a brighter future for Benbrook, and to increase the quality of life for current and for future generations.

The Benbrook Boulevard Expansion Project impacted the 2016-17 Operating Budget. Staff estimates the loss of
approximately $100,000 in sales tax revenue during the construction period in 2016-17 due to the inconvenience factor.
The General Fund revenue projection for sales tax was adjusted to reflect this decrease in revenue. However, Staff
anticipates a significant growth in sales tax revenue and inspections and permits as soon as the project is completed.

DEVELOPMENT OF CORE VALUE STATEMENT

To articulate these policies on a formal basis, City Staff developed a Core Value Statement. The Core Value Statement
is intended to: (1) express the over-riding priorities of the City, (2) state the character and nature of government in
Benbrook, and (3) serve as a guide for future City Councils.

The Council met in two work sessions to review and refine the Core Value Statement. The Core Value Statement
establishes specific financial goals and includes written commitments by the Council. The Core Value Statement
represents the fundamental policy of Benbrook governance. Council approved the Core Value Statement at the
January 19, 2006 Council meeting. In January 2010, Council reviewed the Core Value Statement.

CITY OF BENBROOK 2018-19 ANNUAL BUDGET
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