Page 77 - City of Fort Worth Budget Book

General Fund Economic Development

FY2024 DISCUSSION AND SIGNIFICANT CHANGES
The Recommended Budget:

• Increases by $527,176 to support three authorized positions (APs): (2) Assistant Directors, and (1)
Business Development Coordinator
• Increases by $3M for a transfer to the Economic Development Incentive Fund
• Increases by $1.5M in Other Contractual Services and increases by $935,000.00 in lease and parking
revenue for Crescent Hotel
• Increases by $300,000 due to the increase of 380 Agreements
• Increases by $44,505 in salary and benefits for previously approved costs associated with pay-for-
performance, rising health care costs, and pension contributions
• Increases by $112,534 to support statutory requirement for PID funding from exempt jurisdictions
(CH.372-014) Texas Local Government Code

• Increases by $120,000 to support contractual obligation for Quinn PR Contract (M&C 23-0330)
• Decreases by ($10,268) in General Operating & Maintenance for previously approved costs associated
with IT solutions allocation costs

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