Page 15 - Haltom City Budget FY21

Overview of Capital Improvement Program - The long-term Capital Improvement
Program reflects prioritization regarding the scheduling and related cost of the
projects. The funding of projects for FY 2020-2021 is as follows:

Fund Streets Parks/FS3 Water & Sewer Drainage Total
31 Street Reconstruction 7,460,000 7,460,000
32 Capital Improvements 6,702,000 6,702,000
35 Capital Replacements 850,000
42 Water & Sewer Projects 4,027,932 4,027,932
46 Drainage Capital Projects 1,983,000 1,983,000
Total $7,460,000 $6,702,000 $4,027,932 $1,983,000 $21,022,932

Water and Sewer Rates – We are currently conducting a Water and Wastewater
Rate Study in which the results will be presented to City Council. The study will
also help give us a 5-year outlook and plan on rates and rate structures. We will
look at a 3-year plan to implement necessary changes in rates or rate structures.

Economic Development – Three major economic development focuses for the
City are the North East Loop 820 Corridor, the Belknap Corridor and Overall
Community revitalization / redevelopment. In FY 2020-2021, staff is looking forward
to the continued implementation of a Strategic Economic Plan that was designed
specifically for our community.

North East Loop 820. This area is currently experiencing—and will continue to
experience—significant economic growth. Since FY 2017-2018, we have seen
developments that will bring 600+ single family homes—over half with an average
value of $350,000—as well as 1800+ multi-family (“luxury”) units to this area of
the city. Since actively marketing the EDC-owned land in FY 2018-2019, we have
also experienced a great deal of interest from numerous and diverse developers.
The Haltom City Economic Development Corporation (HCEDC) has been very
productive in their efforts to bring quality development to Haltom City. The EDC
Board was dissolved in July 2020 but the City Council will continue thos efforts.

• The 36-acre Class “A” Industrial Park on Midway is about to commence
• The 72-acre business Park “820 Exchange” has already started construction
of approx. One million square feet of mixed-use development
• High-Pointe residential subdivision out-performed construction projections
• Heritage Village residential subdivision has started construction

• And many more economic development projects are underway

We are experiencing significant growth that will widen the Ad Valorem Tax base
and increase sales tax revenue. In addition, these large developments bring jobs
and prosperity to Haltom City and the surrounding region. In fact, our new growth
revenue projections were realized by April of this year. This new growth will also
assist in creating revitalization opportunities throughout the community.

15