HomeMy WebLinkAboutCity Council Resolutions (R-93-892)-06/01/1993
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RESOLUTION R-93-892
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ADOPTING AN ECONOMIC DEVELOPMENT STRATEGY FOR THE
CITY OF COLLEYVILLE
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WHEREAS, the city Council and Colleyville Area Chamber of
Commerce have worked in partnership to appoint and
support an Economic Development Task Force charged
with the responsibility of creating a proposed
economic development strategy for the city; and
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WHEREAS, the Task Force has worked for seven months to
create that strategy and has prepared a
comprehensive plan for implementing the strategy;
and
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9 WHEREAS, the Task Force has presented the strategy to the
community through a public forum and given the
10 citizens an opportunity to comment on the plan and
offer suggestions; and
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WHEREAS, the Task Force has recommended the strategy to the
City Council for adoption; and
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WHEREAS, the successful implementation of the proposed
strategy would reduce the tax burden on residential
property owners and provide funds for badly needed
improvements to the city's street and other
infrastructure needs by expanding the commercial
tax base of the community;
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NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY
16 OF COLLEYVILLE, TEXAS:
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See. 1:
The Economic Development Goals and Objectives as
proposed by the Economic Development Task Force are
hereby adopted.
Adoption of the plan does not commi t the City
Council to any specific funding support.
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See. 2:
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20 AND IT IS SO RESOLVED
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a vote of
abstentions
, 1993.
JJ~.
Harris, CMC
Secretary
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on
~ nayes, and
I~ day of
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Passed by
( )lJtJ~
ayes, and
this the
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~OF COLLEYVILLE
,/.~
Rl.chard Newton
Mayor
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EXECUTIVE SUMMARY
STRATEGIC PLAN
FOR ECONOMIC DEVELOPMENT
PREPARED FOR THE COLLEYVILLE
ECONOMIC DEVELOPMENT TASK FORCE
COLLEYVILLE, TEXAS
MAY, 1993
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Prepared By:
Vicki L. Park, CED
Economic Development Advisor
Fort Worth, Texas
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Section 1,
Section 2.
Section 3,
Section 4,
Section 5,
Section 6,
Section 7,
Section 8.
TABLE OF CONTENTS
Project Background and Scope
Report on Phase I: Community Interviews
Report on Phase II, Section 1: Community Assessment
Report on Phase II, Section 2: Community Comparisons
Report on Phase II, Section 3, Business Development Site
Requirements and Economic Impact
Economic Development Strategic Plan: Goals, Objectives
and Work Program
Community Payback/Return on Investment Analysis
Conclusion
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Please note: this is a summarv of the Economic Development Strategic Plan for Colleyville, Texas,
To refer to the complete strategic plan, contact the City of CoIIeyvilIe,
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1 . PROJECT BACKGROUND AND SCOPE
Colleyville, Texas, is a small (15,000 population), rapidly growing, pnmarily residential,
community located seven miles west of DFW Airport. Within its 13 square miles, about 90% of
the developed land is residential. Both average housing values ($187,000) and average income
($80,000) are among the highest in the Dallas/Fort Worth region, Commercial development is
primarily retail along the SH 26 corridor and at the intersection of SH 121 and Glade Road,
The Colleyville Area Chamber of Commerce has been involved in promoting business and
community development in Colleyville since its incorporation in 1976, and has contributed to the
overall well-being of the community, The Chamber is also a participant in an eight city regional
economic development consortium known as "Metroport Cities,"
A citizen committee reviewed the City's 1987 Master Plan and has recommended a revised plan
that is under review by the City Council. With regard to economic development, the committee's
preliminary work has emphasized the preservation of the City's "country-like atmosphere," and
limitation of commercial development to SH 26 and SH 121.
The Ci ty Council has recognized the need for a formal economic development strategy to help
guide business growth in the community, A citizen-based Economic Development Task Force was
appointed in cooperation with the Chamber of Commerce, The Task Force worked with an
economic development consultant to design a comprehensive strategic plan for economic
development. In order to develop a program consistent with community goals, input from
Colleyville's citizens was solicited through interviews and a public forum, Building a community
coalition supporting this economic development plan is considered critical to its success,
The plan has been written to be flexible to accommodate unforseen situations and changes in the
economy. It includes specific and reasonable time frames, staff responsibilities and model budget
estimates, The goal of the Colleyville Economic Development Task Force was be to develop a plan
that will be implemented, evaluated and modified on an annual basis,
The economic development plan was formulated using three phases summarized below.
Phase I.
Community Interviews. Developing Local Input and Consensus
Fifty nine personal interviews with the following groups and individuals were conducted to
discuss their vision for Colleyville and to solicit their ideas as to how their vision and community
goals can be accomplished,
Mavor and City Council
Chamber of Commerce Board
City Staff
Business Leaders
Community and Service Organizations
Interested Citizens
Phase II.
Data Collection, Physical Assessment, and Community Comparisons
Collection of data and a current physical assessment of Colleyville was done in order to provide an
understanding of the economy and demographic make-up of the community and its neighbors, and
to identify Colleyville's strengths and weaknesses relating to business development. This
assessment includes the following:
Texas and Metroplex Economies
Colleyville Economy
Demographics (population analysis)
Utilities
Water and Sewer Services
Telecommunications Services
Gas and Electric Service
Transportation
Taxes
Regulations, Ordinances and Pennits
Commercial Site Inventorv
Incentives .
Quality of Life
Education
Housi ng
Heal th Care
Parks and Recreation, Entertainment
Community Comparisons (Wilmette, Illinois; Highland Park, Texas; and all of the
communities surrounding Colleyville)
Business Development Site Requirements and Characteristics
Economic Impact of Business Developments
Phase III. Strategic Plan, Work Plan
Taking information gathered in Phases I and II, economic development goals, objectives and
programs were developed along with a time line, model budget and staffing recommendations, The
following pages summarize the three phases of the plan and its findings,
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REPORT ON PHASE I. COMMUNITY INTERVIEWS
With the Colleyville Economic Development Task Force in place, Phase I of the plan began with
community inten'iews, Phase I also includes review of two community surveys that were
conducted in 1991 to prepare for a city bond election and obtain public input into the master plan
update,
The City and the Chamber encouraged and arranged for community interviews by announcing
them at their meetings, placing notices in the local newspaper, and making phone calls to interested
citizens, Fifty nine individuals were interviewed from November 16 to December 11, 1992 and
were asked to pro\'ide some background including the length of time they lived or worked in the
community, where they lived previously, and what prompted them to select Colleyville as their
home, The interviewees were then asked to describe Colleyville and indicate their aspirations for
the future of the community, particularly in terms of economic or business de\'elopment.
Primary Interview Findings Regarding the Future Development of Colleyville:
Above all, respondents indicated a very strong desire to preserve the living environment of the
community. All agreed that the business environment needs improvement, concentrating on
quality as a primary factor, rather than quantity, Business development must be well planned and
guided to insure high quality businesses and business facilities, There is an interest in adding to the
tax base, but only with businesses that add value to the community,
Economic development needs to be clearly defined in relation to the goals of the community --
economic development will mean something different in Colleyville than in other areas, Job
creation, personal income generation and economic diversification are not high priority issues,
There is interest in adding to the tax base of the community, but only with acceptable businesses.
The most frequently mentioned matter relating to business development was the condition of
Colleyville Boulevard (state highway 26), All interviewees agreed that for the most part Colleyville
Boule\-ard is an eyesore with some less than desirable business uses, Since the thoroughfare is
Colley\-ille's primary business center and should rellect the quality of the community, significant
impro\-ement is needed.
Of the 59 people interviewed, very fe\v (two or three) said they desired no additional business
development in Colleyville, The others indicated an interest in limited development of the following
businesses:
- mid to upper-scale restaurants (fast food not desirable);
- retail shops including children and adult clothing, children's shoes, boutique and upscale
special t1' shops; .
- professional offices~
- enclosed entertainment facilities for children and families were also mentioned, including movie
theaters and bowling, as well as a private membership club with sport and dining facilities~
- large, enclosed shopping malls were not desirable and strip malls were of interest only if
designed and landscaped in an attractive manner,
When asked if a multi-story office development would be acceptable, most indicated their
approval. Manufacturing in general was not acceptable, although when manufacturing was
described as light, clean, assembly work many responded favorably,
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Conclusion:
Based on the interviews conducted for the strategic plan and the results of the two surveys, the
community has indicated a desire for additional business and economic development as long as it is
of high quality. Phase II (Chapters 3 through 5) of the strategic planning process will examine
community characteristics in Colleyville that affect economic and business development and will
explore the site and market requirements of commercial developers and businesses. The economic
development programs of surrounding communities as well as three communities elsewhere in the
United States will be assessed to provide ideas for Colleyville's planning efforts.
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REPORT ON PHASE II, SECTION 1: COMPILATION AND ASSESSMENT OF
BUSINESS LOCATION FACTORS
This chapter provides a compilation of information on the economy, demographics and
infrastructure of Colleyville. These are all factors that a business would assess when making a
decision to locate or expand in the community:
1. Overview of Texas and Metroplex Economies
2. Colleyville Business Location Factors
2.1 Community Location and Overview
2.2 Master Plan Review
2.3 Demographics
2.4 Economy and Employment
2.5 Utilities
2.6 Transportation
2.7 Taxes
2.8 Regulations, Ordinances and Permits
2.9 Quality of Life
Each of these factors are cO\'ered and assessed with recommendations for action to enhance
economic growth in Colleyville.
Summary:
1. Texas and Metroplex Economies: Fairly good economy assessment for the state, average
business climate assessment for the state due to noncompetitive incentives and poor worker's
compensation system.
Guarded economic assessment for the Metroplex because of transition away from defense
industries. Good business climate assessment because of available and affordable labor, business
incentives offered by communities, and U\'ailable and still somewhat affordable sites for business
use.
Recommendation: The fact that the Texas economy is holding its own, and e\'en showing some
growth, should be marketed to prospective businesses which may be unaware of the stabilization
of the state economy.
There are some business climate issues which are of concern and should be the target of lobbying
efforts: worker's compensation, intrastate trucking and competitive incentives. Worker's
compensation in particular is a significant business cost in Texas. While impro\'ements have been
made, this continues to be a problem, a much advertised problem because of annual state business
evaluations performed by Grant Thornton, Inc. Magazine, and others.
There is not much to be done about the economy of the Metroplex. Corporate retrenching and
business diversification will help the region, but results will take some time. E\'en with dependance
on the shrinking defense sector, it is believed that the region has enough strength and diversity to
weather the downturn. Some comparisons with other large metropolitan areas of the country (the
northeast, upper midwest and southern California) shows that the DFW region isn't doing that
poorl y.
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2. Location: Excellent national and regional location.
Recommendation: Community marketing and business recruitment programs should emphasize
Colleyville's excellent location.
3. Demographics: ColleyYille is part of a region with a diverse demographic composition.
However, Colleyville does not follow the norm and has a fairly limited demographic definition.
Recommendation: Lack of demographic diversity in Colleyville is not necessarily an economic
development obstacle. The community has direct access to a much larger consumer base. The
community's high income levels may make it a target for specific types of commercial businesses.
4. Economy and Employment: Good, but guarded. Stable because of the white-collar
composition in Colleyville and location in the DFW region; guarded because of the lack of a
business base in the community and a dependence on a limited number of businesses for sales tax
revenues.
Recommendation: Adoption of an aggressive economic development strategy will help expand
the community's economic base and decrease reliance on a few businesses for generation of sales
tax revenue.
5. Utilities: Electric, gas and telecommunications all rank well. Water and sewer extensions into
new areas and correction of drainage problems are priorities.
Recommendation: As \\lith location, population and labor, utilities also present a locational
advantage and should be marketed as such. Sewer and water improvements can be accomplished
by working through the Trinity River Authority, however, City funds will be needed for these
improvements as well.
6. Transportation: Excellent national and regional transportation access. Interior roadway
system needs impro\'ement and poses limitations.
Recommendation: Regional transportation and market access factors are positive features of
Colleyville and should be emphasized in the community marketing materials. However, it is
critically important that the City identify roadway improvements that will be needed in order to
attract business development.
7. Taxes: Although Colleyville has a very low tax rate, the community has an undiversified tax
base and a poor business to homeowner tax burden ratio, with homeowners shouldering the
burden of taxes.
Recommendation: A comprehensive economic development program, implemented with
consistency, will over time, add to the tax base of the community. The economic development plan
currently under design will present strategies designed to market Colleyville as a business location
to potential businesses.
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8. Regulations, Ordinances and Permits: The City permit and plan review process seems
fairly standard. While there have been some complaints about permits and regulations, those
complaints are universal towards governmental entities and are not a major cause for concern.
Recommendation: Development of a handbook that contains a summary of the development
process, zoning ordinances, landscape and sign ordinance and development fees in a user friendly
format is suggested. A comparison of impact fees to other Metroplex communities would be
helpful as well. In addition, City staff should be encouraged to be "business friendly" and fast
track the City development process for businesses.
9. Quality of Life: Excellent community education and housing, and excellent regional access
to shopping, cultural and recreational activities, and health care services.
Recommendation: Strong quality of life factors can be used to market Colleyville as a business
location.
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REPORT ON PHASE II, SECTION 2. COMMUNITY COMPARISONS
Much can be learned about city planning and economic development by im'estigating how other
communities have managed the issues that Colleyville is currently addressing. All cities hope to
provide a high quality living environment and a viable economic base. Colleyville's advantage is
that the community is in the early stages of the planning and development process. The City is not
overdeveloped; over fifty percent of the land in the community is undeveloped. Colleyville is in an
enviable position in that future development can be guided and directed in order to insure the high
quality living environment and viable economic base that most cities strive for.
National Comparisons:
National comparisons were drawn between Colleyville and three other communities selected by
members of the Colleyville Economic Development Task Force: Burlingame, California; Wilmette,
Illinois; and Highland Park, Texas. Detailed information on community demographics and
economics \Vas compiled and showed that direct comparisons between Colleyville would be hard
to determine. Wilmette and Highland Park are older, more urban, and are at build out, preventing
any future question on land use. It was determined, however, that those communities maintained
land use plans and development standards that resulted in high quality development. Burlingame,
California is so highly impacted by San Francisco International Airport and the hotel industry that
comparisons were not relevant.
Regional Comparisons:
Information on Colleyville's neighboring communities was collected to provide comparisons in
land uses, tax base structure, and economic development programs. Bedford, Euless, Grapevine,
Hurst, Keller, North Richland Hills and Southlake responded to questionnaires which displayed
the diversity of the North Tarrant County area.
Only Hurst is smaller in land mass than Colleyville (Hurst 10 sq.mi., Colleyville 13 sq.mi.), while
Southlake and Grapevine lead in size (Southlake 21.5 sq.mi., Grapevine 33 sq.mi.). North
Richland Hills had the highest 1992 population of 47,646, Colleyville is approximately 15,000,
Southlake is the smallest with a population of almost 8,000,
In regard to tax base comparisons, Colleyville leads its neighbors in single family residential tax
base -- $793,000,000 (1992) -- but falls well below average for commercial and industrial tax base
with just over 4% of the tax base devoted to commercial, as compared to 15lk in Grapevine, 23%
in Hurst, and 11% in Southlake. Colleyville's total property tax base equaled $988,957,000 in
1992. The burden of property taxes lies heavily upon the homeowner in Colleyville. 1992 sales tax
revenues in Colleyville were the third lowest of the neighboring communities compared (lowest in
Southlake of $528,457, Keller was $598,30:2, while Hurst was the highest by a large margin
with sales tax revenues of $5,395,298, attributable to North East Mall and other high volume
retail).
Economic development program structures varied from community to community, with the
common theme that each neighboring city government retained some control and voice in regard to
economic development (local business assistance, community marketing, business recruitment,
development permit assistance, etc.). The difference came in the role that the community's
Chamber of Commerce played in the process. All Chambers are involved in economic development
to some extent, but many are leaning toward regionalism, as it is becoming more and more difficult
for the many communities in the Metroplex to support separate Chambers of Commerce. In
Colleyville, it is recognized that the Chamber plays an important role as the business advocate in
the community. It is recommended that the Citv of Collevville and the Collevville Chamber con-
tinue, and even strengthen, their partnership in {vorking toward improved bUSIness development.
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PHASE II, SECTION 3. BUSINESS DEVELOPMENT SITE REQUIREMENTS
The purpose of this chapter was to define various business categories and identify the factors that
need to be in place in order to attract businesses to a community. Although Colleyville residents
have indicated that retail businesses are desirable, a significant number of residents that were
interviewed indicated that office and light manufacturing would be acceptable if designed properly.
This economic development plan would not be complete if a broad range of businesses were not
identified and considered.
The characteristics of retail, office, and light manufacturing establishments were outlined, then the
site and market needs of these various business were presented along with the potential economic
impact of such developments.
Because Colleyville's property (ad valorem) taxes are so low, businesses that bring in property
and sales taxes will have the greatest economic impact on the community. (In 1992 ColleyvilIe
assessed a property tax of .2655 cents per $100 of assessed value. The City collects a 1 % sales
tax.) Some examples:
- Discount Retail Store: 25,000 sq.ft. could bring in over $67,000 in sales taxes and $8,665 in
property taxes annually.
- High End Retail: 1,500 sq.ft. could bring in $12,575 in sales taxes but only $1,327 in property
taxes annuall y.
- Fast Food: 1,500 sq.ft. could bring in $2,250 in sales taxes and $1,327 in property taxes
annually.
- Higher End Restaurant With Liquor: 3,000 sq.ft. could bring in $9,500 in sales taxes and $2,000
in property taxes.
- Neighborhood Retail Center: 30,000 sq.ft. with supermarket as the principal tenant and four
other convenience and personal service businesses could bring in approximately $150,000 in sales
taxes and $4,000 in property taxes annually.
- Small Professional Offices: No sales tax, property taxes on assessed value of $500,000 would be
$1,327.
- Large Office Headquarter: 100,000 sq.ft. No sales tax, property taxes would be approximately
$13,275.
- Light Industry: electronics assembly, 50,000 sq.ft., no sales tax, property taxes would be
approximately $8,000.
While office and industrial development does not bring in sales taxes, it does create economic spin-
off in jobs, additional personal income, additional bank deposits, additional school and county
taxes, and additional retail sales created by the people working at or visiting these establishments.
Because of this, retail, office, and light industrial establishments will be recommended as business
recruitment targets.
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ECONOMIC DEVELOPMENT STRATEGIC PLAN
This chapter sets forth the goals, objectives and programs as developed and adopted by the
Colleyville Economic Development Task Force. The Task Force worked from November, 1992
through April, 1993 to arrive at these programs that will lead to an effective economic development
effort in Colleyville. The follO\ving goals, objectives and programs cover organizational issues,
development preparedness and business environment topics, local business retention and
assistance, business recruitment and community marketing, and an annual evaluation process.
The chapter will conclude with a specific work plan chart that will lay out programs and identify
timelines, budgets, and committee assignments and an evaluation process that can be used at the
end of each fiscal year to re-evaluate objectives and programs and assess performance.
Section 1. DEFINITIONS:
1. Strategic Planning for Economic Development: The systematic manner of addressing and
evaluating local economic conditions and designing actions that will impro\Oe those conditions.
Also, the process by which a community envisions its economic future and de\'elops the necessary
procedures and operations to achieve that future.
2. Goals: Aspirations, the end to which the effort is directed, an expression of intent and purpose.
3. Objectives: Performance targets, items that will lead to fulfillment of goals.
4. Programs and Strategies: specific and measurable tasks to be performed that will result in
fulfillment of the objectives and ultimately the goals.
Section 2. ECONOMIC DEVELOPMENT GOALS AND OBJECTIVES
Primary Goal: To ensure a prosperous economy, high character, appearance, amenities and
quality of life for the City of Colleyville by implementing an economic development program that
will foster a positive business environment and high quality business developments.
Goal 1: To encourage \vell planned, attractive, safe and compatible restaurant, retail, office and
commercial business growth that will:
- create an expanded tax base through greater property and sales tax revenues as well as economic
spin-off activities;
- protect property val ues;
- provide desirable services to the citizens of Colleyville;
- improve the aesthetics of business corridors;
- lead to the eventual town center that concentrates retail, commercial, cultural and civic activities.
Goal 2: To ensure that needed factors are in place to promote business development:
- maintain high standards and provide assistance to businesses;
- establish reasonable development controls and regulations that will benefit businesses and the
citizens of Collevville;
- provide necessary traffic access critical to business areas;
- facilitate the development of marketable business sites;
- establish an economic development organizational structure that will provide the resources
necessary to promote business development;
- maintain city autonomy while participating in regional economic development activities.
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,or
Goal 3: To support the retention and expansion of existing businesses and encourage new
business growth:
- develop marketing and advertising programs that will promote Colleyville as a good place to do
business;
- communicate with local businesses and provide assistance to meet their needs and encourage
growth opportunities;
- identify, communicate with, and assist new businesses that will be a positive addition to the
community.
Goal 4: To educate the community about the economic development program, and to allow input
into economic development activities that will achieve positive support of community econom-
ic development and lead toward community consensus.
Economic Development Objectives Needed to Support Goals:
1 . Organizational Objectives:
A. Develop a more formal organizational structure (board, commission, committee or not-for-
profit) that will coordinate and solidify partnerships between organizations that are currently
playing a role in economic development and will be responsible for economic development issues
and overseeing annual work plans.
B. Identify policies, bylaws, committees, staff, funding, and other needed support mechanisms
of the adopted economic development program.
2. Development Preparedness and Business Environment Objectives: (These
issues will affect both local businesses and potential new businesses.)
A. Examine, more closely, the development process of the City to determine if the process is fair,
timely, and cost effective without sacrificing the high development standards of the community.
Explore fast-track development procedures and development fees and establish clear criteria.
Ensure that business regulations are fair and clear, again upholding high standards.
B. Conduct an in-depth inventory of all current and potential business sites that will result in a
community-wide site map and a catalogue of specific site plats, zoning, infrastructure, traffic
counts and access, development constraints, ownership and broker.
C. Determine the impact of traffic access policies on business development and make
recommendations where changes are necessary.
D. Explore public and private inducements and incentives that have resulted in beneficial business
development activities in other areas to determine their feasibility for Colleyville. Identify the
financial needs of businesses and research financing techniques used elsewhere.
E. Continually update economic, demographic, and infrastructure data and present it in a clear and
professional manner for use by local businesses, potential businesses, developers and brokers.
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3. Local Business Retention, Expansion and Start-up Objecti\'es:
A. Conduct a complete survey of all Colleyville businesses to have a better understanding of their
products, services and economic impact to the community, while also determining their needs,
problems and growth opportunities. Update information on an annual basis and maintain a
database profiling all businesses. The economic development entity should act as an facilitator
between local regulatory authorities and businesses.
B. Develop programs aimed at addressing problems identified by local businesses which could
include training seminars that would educate businesses about more effective marketing
techniques, financial management, job training, employee benefit programs, government law and
regulations (especially new EPA regulations that will most certainly affect small businesses), etc.
Lobby for legislative change where needed. Evaluate programs on an ongoing basis, making
changes as appropriate.
C. Strengthen relationships within the business community by providing opportunities for
businesses to meet together and share ideas and success stories (smaU, relaxed breakfast meetings
or a similar type of meeting environment tend to be the most effective). Conduct an annual
business appreciation event. Recognize innovative and successful businesses with award
programs. If local businesses fail, follow-up and analyze the situation with an exit interview.
D. Identify possible business start-up programs by researching how start-up is induced in other
communities. Explore business development opportunities with local citizens from within the
community.
4. Business Recruitment and Community Marketing ObjectiYes:
A. Research and identify targeted industries (retail, commercial, office and other commerce) that
would fit weU in the community. Recruit and maintain contact with developers who have standards
consistent with community values defined in the goals.
B. Identify the community's best marketing image and design marketing and advertising programs
to promote that image. Develop high quality marketing materials, both general and industry-
specific that include current and complete market data on the community and show why CoUeyviUe
is a good and profitable business location.
C. Identify and participate in marketing opportunities such as trade shows, advertising
opportunities, media opportunities and joint promotions with other regional economic develop-
ment agencies. Recruit targeted businesses and developers to local events that emphasize long term
successful business ventures.
The following pages show the organization, model budget and work program proposals needed to
implement the goals and objectives set forth by the CoUeyviUe Economic Development Task Force.
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Organizational Structure:
The organizational structure of the economic development process is cri tical to its success. A
continuation of a public (City) and private (Chamber of Commerce and local businesses)
partnership is recommended for Colleyville.
As in most small communities, a major source of economic development funding will be from the
public sector, even though there will be a serious attempt to raise economic development funds
from the private sector. However, because of the public funding, it is recommended that the City
of Colleyville establish a formal Economic Development Commission similar to those of other City
boards such as Planning and Zoning. The members of the Commission will be appointed by the
City with at least half representing the private sector recommended by the Colleyville Area
Chamber of Commerce. The Chairman should be from the private sector, with the Mayor or other
elected official serving as the Vice-Chairman. The organizational structure (next page) indicates the
establishment of four committees: Steering Committee, Business Finance and Incentives
Committee, Community Marketing and Business recruitment Committee, and Local Business
Assistance and Retention Committee. These committees will provide excellent opportunities for
Colleyville residents to assist in the economic development process, thereby minimizing operating
expenses.
It is recommended that the Colleyville Chamber of Commerce be responsible for the Local
Business Assistance and Retention segment of the economic development plan (refer to the charts
on pages 16 - 19 for program responsibilities). These services would be provided to all Colleyville
businesses, regardless of Chamber membership. The Chamber would work closely with City in
goal, programs and budget development, and would report to the Economic Development
Commission on a regular basis.
The City of Colleyville must hire a full time economic development professional to work with the
Economic Development Commission and the Chamber and be responsible for implementing and
managing the programs outlined in this plan. This individual will be a City employee responsible
for establishing a "business friendly" environment in City Hall and will o\'ersee the fast track
development process.
Organizational structures are dynamic and usually change over time as the characteristics and the
economic development needs of the community and the region face change. The recommended
organizational structure for Colleyville's economic development program should be managed
accordingly.
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MODEL BUDGEr
Item
1. Economic Development Support Programs
- Data Collection and Research
- Business Finance and Incentive Development
- Community Reporting
- Committee Expenses
"
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Local Business Assistance and Development
- Business Inventory
- Business Retention Survey
- Business Education Opportunities
- Business Resource Library
- Business Resource Directory
- Business Roundtables
- Business Reco\!nition Events
- Local Business" Promotions
- Business Start-Up Programs
- Legislati ve Affairs
3. Community Marketing and Business Recruitment
- Business Targeting and Mailing List
- General Brochure and Fact Sheets
- Communitv Factbook
- Site Catalogue
- Advertising
- Trade Shows and Prospecting
- Direct Mail
- Proposals
- Hosting and Special Events
4. Administration and Operations
- Personnel Costs
- ED Memberships and Conferences
- Phone, Postage, Supplies, Printing, Equip.
TarAL
Expenses
Year 1
Expenses Per
Year. Years 2 - 5
$2,500.00
$1,000.00
$1,000.00
$4,000.00
$8,500.00
$8,500.00
$1,000.00
$5,000.00
$00
$2,000.00
$3,000.00
$2,000.00
$3,000,00
$5,000,00
$2,000.00
$2,000.00
$25,000.00 $25,000.00
$5,000.00
$20,000.00
$5,000.00
$3,000.00
$10,000,00
$10,000.00
$5,000.00
$5,000.00
$5,000.00
$68,000.00 $46,000
$62,500.00
$3,000.00
$15.000.00
$80,500.00 $75,000.00
$182,000.00 $155,000.00
Note: This model budget does not include possible revenue sources from sale of data and
marketing materials and attendance fees at events. This is a model only and subject to review by the
ColIeyville Economic Development Commission and the City Council. Funds are intended to come
from both the public and private sectors and the actual budget could vary according to private
contributions. The ED Commission and the City Council will assign priorities and adjust the
budget as necessary, based on available resources.
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COMMUNITY PA YBACK/RETURN ON INVESTMENT ANALYSIS
As indicated in the previous section, the establishment of a community economic development
program will require the expenditure of both public and private funds. Given the source of these
funds, it is critical to examine the payback, or return on investment that the public and private
sectors in the community can expect from such a program. The factors used in this analysis include
the cost of the programs over five years. As no actual budget has been adopted, these costs are
only examples. The revenues (sales and property taxes) obtained over the same five year time
frame were estimaced based on forecasting the new types of businesses that could be recruited to
Colleyville.
Certain costs and re\'enues were excluded due to their unpredictability: site de\'elopment costs and
increases in sales tax revenue from existing local businesses that would benefit from new business
developments. Qualitative benefits of adopting an economic development program should also be
examined in terms of a community payback analysis even though such items cannot be quantified.
Adoption of a proactive economic development program will result in the city's ability to help
shape the Highway 26 business corridor consistent with economic development and community
goals. Better service to the business community should improve the perception of Colleyville as a
business friendly community resulting in a greater willingness for new businesses to locate here.
With economic de\"elopment staff available, the quality of new development should improve as
well as mitigation of neighborhood conflicts as new businesses are established.
As the payback analysis on the following page indicates, there is a posicive dollar benefit to
Colleyville of an economic development program over the five year period, Coupled with the
intangible economic benefits to the community, it sems reasonable that the proposed economic
development program provides a profitable return to the community.
20
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CONCLUSION:
- Interviews of Colleyville citizens indicated that economic development and business growth are
desirable as long as business developments preserve and enhance the quality of life in Colleyville.
The citizens strongly backed the fact that business development will bring in sales and property
taxes that will help pay for needed community improvements.
- An assessment of Colleyville as a business location concluded that the community has an
excellent regional location, quality of life and household income that would be attractive to potential
businesses.
- The assessment also indicated that Colleyville has a very weak business base, therefore placing
the burden of taxes on the homeowner. Comparisons between Colleyville and its neighboring
communities indicated that while Colleyville has higher residential values and household income, it
is lagging dramatically in commercial income and tax base.
- Colleyville falls well below average for commercial and industrial property tax base with just
over 4% of the 199:2 property tax base devoted to business use as compared to 15% in Euless,
20% in Grapevine, :24% in Hurst, almost 5% in Keller, :20% in North Richland Hills and 11 % in
Southlake. 1992 sales tax revenues in Colleyville totalled $826,258, well below the eight city
average of $2,652,596.
- In addition, the assessment indicated that improvements are needed in drainage, sewer and water
extensions, and road conditions. Increased business activity would help support these
infrastructure improvements. Another assessment was that east-west thoroughfare access is
limited, which could affect business development. A final recommendation was made that
Colleyville adopt a "business friendly" attitude that will help attract and assist local and potential
businesses.
- Comparisons between Colleyville and two national communities concluded that cities that develop
and maintain high development standards tend to create a higher quality of life.
- The goals, objectives and programs designed and recommended by the Colleyville Economic
Development Task Force emphasize high community quality of life and character; support well
planned and attractive commercial business growth; support the existing local business base while
also marketing the community to new businesses that will increase sales and property tax revenues;
and educate the community about the economic development program while encouraging citizen
input into economic development activities.
- Return on investment and community payback examples show that the proposed economic
development program will create a positive dollar benefit to Colleyville and provide needed
community tax revenues to support public improvements.
- The Colleyville Economic Development Task Force supports a working partnership between the
public sector (City) and private sector (Chamber and businesses) in the community; recommends
the establishment and funding of an Economic Development Commission with hired, professional
City staff; and recommends specific programs designed to increase the commercial tax base by
assisting and retaining local businesses, marketing the community as a business location, and
recruiting desirable new businesses.
..,..,