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Strategy 2.1 Accelerate the Completion of Old Town Keller

After many years of planning, City Council is moving forward with the first set of projects aimed at
redeveloping Old Town east of Hwy. 377 and south of Keller Parkway into a pedestrian‐friendly restaurant,
retail and entertainment destination. Work will begin in FY 2021‐22 on a median along Hwy. 377 in the
heart of the district; the conversion of Bates Street into a festival street; and a crosswalk at grade that will
use a Pedestrian Hybrid Beacon to provide visitors with safe access across Hwy. 377 on foot. As mentioned
above, funds from the KDC will also be in play as the Parks and Recreation Board makes plans for further
developing Bates Street Park with money from the Keller Development Corporation Fund.

City Council’s decision to create Tax Increment Reinvestment Zone No. 2 along Hwy. 377 will also impact
Old Town long term. By capturing increased valuation increments from new projects like Center Stage and
the redevelopment of properties along the highway corridor, money will be earmarked in future years to
pay for major infrastructure, drainage, park and other public improvements in the Old Town district for
years to come.

Strategy 2.4: Redevelop and Enhance Primary Commercial Corridors

Redevelopment of existing commercial corridors will become increasingly important to growing Keller’s
commercial tax base as we reach our community’s natural buildout. The Tax Increment Reinvestment
Zone No. 2 referenced above is expected to generate increased interest from developers seeking
opportunities in pedestrian‐oriented districts in both Old Town and north along Hwy. 377 where the
Center Stage development has recently begun their work. City Council’s recent approval of updates to the
Façade Improvement Grant will also assist in redevelopment efforts, leveraging public dollars alongside
private investments to revitalize older buildings and shopping centers.

Several significant business expansions are also underway across the city, including a new 9,744‐square‐
foot multi‐tenant building for Chapps Burgers and their headquarter offices on Keller Parkway; a 15,090‐
square‐foot veterinary hospital for Creekside Pet Care on Davis Boulevard; a 11,234‐square‐foot building
for Just for Grins Family Dentistry in Old Town Keller; and the recently opened 5,994‐square‐foot building
for North Texas Veterinarian Clinic on Wall Price‐Keller Road. These types of expansions demonstrate the
commitment of our business community to investing in Keller and growing their businesses here.

Goal 3: Demonstrate Fiscal Discipline

Strategy 3.1: Maintain Fiscally Conservative Budgets

The total FY 2021‐22 Adopted Operating Revenue Budget is $93,199,128, an increase of $6,851,288 or
7.9% from the current budget, and the expenditure budget is $100,247,944 — an increase of $13,882,022
or 16.1%. While the increase may not seem fiscally conservative, it is skewed high by the creation of the
Self‐Insurance Fund and the funding of one‐time expenditures. With the self‐insurance fund revenue
budget of $4,581,640 removed from total revenue, the revenue increase is $2,269,648 or 2.6%. On the
expenditure side, when the self‐insurance fund expenditure of $4,541,645, one‐time commitments to
street and sidewalk maintenance of $5,300,057, fire engine replacement of $1,448,000, and purchase
order rollovers of $219,451 are removed, the expenditure increase is only $2,378,790 or 2.7%. The budget
changes to the two major operating funds are briefly discussed below and a more detailed discussion of
all fund changes can be found in the Statistical Analysis section of the budget.

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