Page 103 - City of Colleyville FY22 Adopted Budget

Economic Development

FY 2022 Department Business Plan

Department Description

Economic Development serves the citizens, businesses, and commercial property owners of
Colleyville, as well as prospective new retailers, restaurants, corporate tenants, developers,
brokers, and other stakeholders. Economic Development is community specific, and for
Colleyville, seeks to increase quality of life by increasing sales tax revenue, facilitate quality
redevelopment of commercial corridors, increase commercial property tax value, add jobs to
increase daytime population, and work with the private sector to take a proactive approach
to commercial development to facilitate projects that fit with the Colleyville character.

Core Services

To successfully accomplish the duties of the office, Economic Development is responsible for
the following core services:

Business attraction:

Economic Development seeks to attract quality businesses to the City to provide retail
opportunities, which generate sales tax to help pay for city services. Economic development
also seeks to attract quality development to greenfield development sites such as the 60-acre
Northern Gateway at John McCain and SH26 and the 20-acre Precinct Line Road site, as well
as other smaller infill locations throughout the commercial areas of Colleyville.

Redevelopment:

In conjunction with City’s SH26 beautification efforts, the City is partnering with businesses
and property owners to redevelop older buildings to ensure the improved roadway and
commercial corridor match in quality. The City commissioned a study of the Southern Gateway
portion of SH26 (Brown Trail to southern limits) to help in the redevelopment activity. The
City has also purchased several parcels in the Southern Gateway area, to proactively assemble
separate parcels into a larger tract that can be sold for redevelopment.

Business retention:

Economic Development works with existing business owners to ensure that once in Colleyville,
they remain in Colleyville. Staff seeks feedback from businesses to determine what assistance
they may need and how the City can provide help facilitate their success. Throughout the
COVID-19 pandemic, the City provided programs to ensure businesses had revenue coming
in. These included $35 gift cards to residents to be used at Colleyville businesses, marketing

101