Page 17 - City of Kennedale Adopted Budget FY22

return to the Bloxom Foundation. This will reduce EDC income by $2,500 each month but will add the
property back to the AV tax rolls.

FY21-22 will be the third year that the TIRZ has seen notable incremental value increase, which will
result in approximately $30,014 in new revenue to this fund. The proposed development of the Texas
Raceway property is expected to be heard by the Planning and Zoning (P&Z) Commission as well as
Council in coming months. This proposed development would include about 266 homes constructed in

four phases. Each home is expected to have an average value of $300,000 – for a final AV value of almost
$80 million. Because this property is in the TIRZ, the City would not only benefit from the annual
property tax revenue of ~$618,000 (at the current rate) – but would also receive for reinvestment in the
area the portion of the property tax on any added value that would normally be collected by the hospital
district, the college district, and the county for the life of the TIRZ agreements (through 2037).

As the Council is aware, the ranking committee recommended that the extension of Little School Road be
included by the Tarrant County Commissioners Court in the 2021 Transportation Bond Package. If the
court approves this recommendation and the bond package passes, extension of this main arterial into the
TIRZ could significantly catalyze further development. Additionally, remaining available funds from the
2018 & 2019 Tax Notes can be purposed, based on Council’s direction, for ongoing capital projects
including the TxDOT New Hope Road off-system bridge project.

N E W P R O G R A M S
Minimal new programs (with estimated costs of $50,1690) have been included in this proposal but a
comprehensive list of all requests (with a total cost of more than $750,000) will be provided to Council
for reference. The overall FY21-22 Budget for all funds is $17.5 million and includes 71.45 full-time
equivalents (FTEs) – which represents 67 full-time and 7 part-time positions.

Finally, I would like to take this opportunity to sincerely thank the members of the Council for
volunteering their time, talents, and dedication for the benefit of the citizens of Kennedale. Input from the
Council has, as always, been invaluable in the preparation of the FY21-22 Proposed Budget. Appreciation
is also expressed to the professional staff – particularly in the Finance Department – for their diligence in
the preparation of the budget. With the significant input and positive commitment already invested by the
City Council to Kennedale’s future regarding this Annual Program of Services, I am confident that the
City and the community will achieve and experience service levels desired by our citizens. Your support
and the dedication of our capable staff are appreciated.

Sincerely,

Leslie E. Galloway
INTERIM CITY MANAGER

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