Page 94 - HaltomCityFY25Budget

City Of Haltom City Annual Budget, FY2025 General Fund

Economic Develpement

Haltom City’s Economic Development Department exists to enhance community development within
the city. This includes encouraging people and businesses to relocate to Haltom City. This department’s
is managed by the City manager’s office. The Economic Development Corporation offers a range of
resources for prospective businesses seeking to establish themselves in Haltom City. These include the
Haltom City Tax Abatement, the Economic Development Assistance Grant, and the Property Enhancement
Incentive Policy. Additionally, businesses can benefit from Foreign Trade Zones, the State of Texas
Enterprise Zone Agreement, and the Triple Freeport Exemption. The city also provides support through
Tax Increment Finance Districts, making it an attractive destination for new enterprises.

Actual Adopted Projected Adopted
EXPENDITURES FY 2023 FY 2024 FY 2024 FY 2025
Personnel - - - -

Operations $175,422 $2,227,344 $2,078,134 $1,129,895

Total $175,422 $2,227,344 $2,078,134 $1,129,895

NON DEPARTMENTAL

Purpose

The purpose of the non-department is to manage and provide prudent oversight of the City’s various
charges that are not directly related to any specific department or activity of the City. Expenditures
include insurance, utilities, auditing fees, studies, consultant contracts or other non-routine one-time
operational charges and transfers to other funds.

Actual Adopted Projected Adopted
EXPENDITURES FY 2023 FY 2024 FY 2024 FY 2025
Personnel $200,192 $347,651 $438,021 $280,963

Operations $3,344,491 $2,417,131 $2,636,859 $3,169,181

Total $3,544,682 $2,764,782 $3,074,880 $3,450,144