Page 35 - Southlake FY22 Budget
P. 35

TrAnSMITTAL LETTEr



        eCOnOmiC develOPmenT invesTmenT                          eCOnOmiC develOPmenT invesTmenT fund
        fund                                                              exPendiTure highlighTs

                                                                 highlighT           iTem         exPendiTure
        The  Southlake  2035  Economic  Development
        Master  Plan  includes  a  recommendation  to  build
        an  economic  development  investment  fund.                            Southlake
        We  are  proposing  to  continue  to  implement  this                   Business            $182,500
        recommendation for FY 2022.                                             Landscape Grant

        Revenue  highlights.  For FY  2022,  revenue of        Operations       Economic
        $10,000  is  projected.  Also,  we  are  proposing  to
        transfer $150,000 to this fund, as we work to build                     recovery
        its balance for future use.                                             target industry      $50,000
                                                                                marketing
                                                                                campaign
        Expenditure  highlights.  We  are  proposing
        expenditures  of  $232,500  from  this  fund  for  FY
        2022 to support marketing initiatives and to assist Southlake businesses.

        Fund balance. The ending fund balance is projected to be $2,744,779.









                                                                sOuThlake
                                                             2035 eCOnOmiC
                                                              develOPmenT
                                                              masTer Plan


                                             ED15:  Maintain ongoing, DEDicatED
                                               funDing to achiEvE EconoMic
                                             DEvElopMEnt goals by continuing
                                                invEstMEnt in thE EconoMic
                                              DEvElopMEnt invEstMEnt funD.























       34    FY 2022 City of Southlake  |  BUDGET  BOOK
             WWW.CITYOFSOUTHLAKE.COM
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