Loading...
06.26.2012 EDC PacketECONOMIC DEVELOPMENT CORPORATION AGENDA BOARD OF DIRECTORS - REGULAR MEETING June 26, 2012 CITY HALL COUNCIL CHAMBERS, 405 MUNICIPAL DRIVE REGULAR SESSION - 7:15 PM I. CALL TO ORDER II. ROLL CALL III. WORKSHOP At this time the Economic Development Corporation will hold a joint meeting with the Kennedale City Council to discuss the following items: A. Discuss development preferences for Oak Crest and Kennedale Parkway. B. Discuss TxDOT signage on Interstate Highway 20. IV. MINUTES APPROVAL A. Consider approval of minutes from regular meeting dated May 22, 2012. V. REGULAR ITEMS A. Review KEDC Financial Report. B. Consider first amendment to the Economic Development Corporation's agreement for development of the Kennedale TownCenter. VI. STAFF ANNOUNCEMENTS/REPORTS A. Updates from the Executive Director, Orasi Development, and the Kennedale Chamber of Commerce. 1. Chamber of Commerce update 2. TownCenter status 3. Property listing 4. New Hope Road TIRZ District with Tarrant County VII. EXECUTIVE SESSION A. The Economic Development Corporation will meet in closed session pursuant to Section 551.072 of the Texas Government Code to deliberate the purchase, exchange, lease, or value of real property. 1. Discuss property at 1000 E Kennedale Parkway. B. The Economic Development Corporation will meet in closed session pursuant to Section 551.087 of the Texas Government Code to deliberate the offer of a financial or other incentive to a business project with which the city is conducting economic development negotiations. 1. Incentives for development of property at 1201 West Kennedale Parkway. 2. Incentives for development of property at 445 West Kennedale Parkway. VIII. RECONVENE INTO OPEN SESSION, AND TAKE ACTION NECESSARY PURSUANT TO EXECUTIVE SESSION, IF NEEDED IX. ADJOURNMENT In compliance with the Americans with Disabilities Act, the City of Kennedale will provide for reasonable accommodations for persons attending City Council meetings. This building is wheelchair accessible, and parking spaces for disabled citizens are available. Requests for sign interpreter services must be made forty-eight (48) hours prior to the meetings. Please contact Amethyst Cirmo, City Secretary, at 817.985.2104 or (TDD) 1.800.735.2989 CERTIFICATION I certify that a copy of the June 26, 2012, Kennedale Economic Development Corporation agenda was posted on the City Hall bulletin board next to the main entrance of the City Hall building, 405 Municipal Drive, of the City of Kennedale, Texas, in a place convenient and readily accessible to the general public at all times and said agenda was posted at least 72 hours preceding the schedule time of said meeting, in accordance with Chapter 551 of the Texas Government Code. ￿Amethyst G. Cirmo, City Secretary Staff Report to the Board of Directors Date: June 26, 2012 Agenda Item No: WORKSHOP - A. I. Subject: Discuss development preferences for Oak Crest and Kennedale Parkway. II. Originated by: Bob Hart, City Manager III. Summary: At this time the EDC and the City Council will hold a discussion regarding general devleopment preferences for various areas of the city. IV. Recommendation: None V. Alternative Actions: VI. Attachments: Staff Report to the Board of Directors Date: June 26, 2012 Agenda Item No: WORKSHOP - B. I. Subject: Discuss TxDOT signage on Interstate Highway 20. II. Originated by: Bob Hart, City Manager III. Summary: Bob Hart will present information on I-20 signage related to Kennedale and Kennedale Parkway. IV. Recommendation: None V. Alternative Actions: VI. Attachments: Staff Report to the Board of Directors Date: June 26, 2012 Agenda Item No: MINUTES APPROVAL - A. I. Subject: Consider approval of minutes from regular meeting dated May 22, 2012. II. Originated by: Jennifer Bozorgnia, Municipal Court Administrator III. Summary: IV. Recommendation: Approve V. Alternative Actions: VI. Attachments: 1.minutes 05.22.2012 EDC Minutes.doc ECONOMIC DEVELOPMENT CORPORATION MINUTES BOARD OF DIRECTORS - REGULAR MEETING May 22, 2012 CITY HALL COUNCIL CHAMBERS, 405 MUNICIPAL DRIVE I. CALL TO ORDER President Mundy called the meeting to order at 5:16 PM. II. ROLL CALL Roll Call Present Darrell Erwin, Robert Mundy, Donnie Graham, Mark Yeary, Rebecca Mowell Absent/Excused Pat Turner, Beverly Hayes III. MINUTES APPROVAL A. Consider approval of minutes from regular meeting dated April 24, 2012. Motion To approve the minutes as presented. , Action Approve, Moved By Donnie Graham, Seconded By Mark Yeary Motion Passed Unanimously IV. REGULAR ITEMS A. Review KEDC Financial Report. Finance director Sakura Moten-Dedrick presented the financial report Motion To approve the report as presented. , Action Adjourn, Moved By Darrell Erwin, Seconded By Rebecca Mowell Motion Passed Unanimously V. STAFF ANNOUNCEMENTS/REPORTS A.Updates from the Executive Director, Orasi Development, and the Kennedale Chamber of Commerce. B.Bob Hart noted that the City Council accepted Mayor Lankhorst’s resignation earlier that evening. 1. Chamber of Commerce update Mr. Hart noted that Frank Rodasky had accepted the position as the new Executive Director of the Chamber and noted that the Economic Development Corporation was selected as business of the year at the last chamber luncheon. 2. Hotel development Discussion related to this area has been ongoing and the EDC and the City are still speaking with developers. 3. TownCenter Status Bob Hart noted that the pad site for the next building would need to be prepared in the near future. 4. Land activity Mr. Hart noted that the City Council had voted to placed certain property up for bid and give the EDC the opportunity to bid on that property. 5. Red Roadhouse Restaurant Red’s Roadhouse will open on May 31 st . 6. QuickTrip update QuickTrip is currently under construction. 7. Road project update Current projects should be complete by the end of the month. The dedication will take place August 4, 2012. Bob also noted that a letter from the Greater Fort Worth Builder’s Association had been received. The letter state that Kennedale has been selected as a finalist for the community spotlight award. The next regular meeting will be held on June 26, 2012. VI. ADJOURNMENT Motion , Action Adjourn, Moved By Mark Yeary, Seconded By Darrell Erwin Motion Passed Unanimously The meeting was adjourned at 7:50 PM Staff Report to the Board of Directors Date: June 26, 2012 Agenda Item No: REGULAR ITEMS - A. I. Subject: Review KEDC Financial Report. II. Originated by: Sakura Moten-Dedrick, Director of Finance & IT III. Summary: IV. Recommendation: Approve V. Alternative Actions: VI. Attachments: 1.EDC Apr 2012 Financials 20120626 EDC Apr 12 Financials.pdf APR 2012 ECONOMIC DEVELOPMENT CORPORATION FINANCIALS Budget/Amendment No changes. Year -To -Date • Ad Valorem Tax: Increase in comparison over this time last year . Based on MMD assessment. • Sales /Beverage Tax: Increase in comparison over this time last year . Receipts are trending upward with the economy (see Monthly Graph, 3 -Year Historical Graph, 10 -Year Historical Data). • Investment Earnings : No significant change . • Miscellaneous Income: Increase in comparison over this time last year . • Surplus Sales/Rentals : Decrease in comparison over this time last year. Please note that we received a normal April check consistent with previous mont hs; however, we have yet to post the entry. We have posted May ’s check, but w e are in the process of trying to reconcile April ’s check with the help of Cypress. This is due to their annual reconciliation of MMD revenue/expenses. The Apri l amount yet to be booked is approximately $15K, so this category would normally be the same in comparison to this time last year. This update will reflect on May ’s financials (i.e., double rental sales) brought forth in July. • Transfers: No significant change . • Personnel : No significant change. • Supplies: Increase in comparison over this time last year . This year included costs tied to the TownCenter Grand Reopening and 9/11 Memorial. • Maintenance: No significant change. • S undry : Increase in comparison over this time last year . This year included approximately $6 0K of Engineering expenses tied to the Green Ribbon Grant Project. • Debt: Increase in comparison over this time last year . This year includ ed the repayment of over $1M in Texas Leverage Fund principal back to the state per the EDC Board’s direction. • Transfers: Increase in comparison over this time last year . This reflects total reimbursement of debt payment back to General Fund for recent $2.0M Bond Issuance. • Capital: Decrease in comparison over this time last year . E stimate a result of these ending audited fund balances , we anticipate a FY11/12 ending fund balance of $119,866 ($0 operations / $0 capital bond project / $119,866 reserve bond ). CITY OF KENNEDALE, TEXAS ANNUAL PROGRAM OF SERVICES INCOME STATEMENT "EXEMPLIFYING EXCELLENCE" 15: EDC4B FUND FY10-11 FY10-11 FY10-11 FY10-11 FY11-12 FY11-12 FY11-12 FY11-12 INCOME STATEMENT BUDGET AMENDED YTD APR ACTUAL PROPOSED AMENDED YTD APR ESTIMATE OPERATING REVENUES 587,149 587,149 300,538 2,349,305 1,295,404 1,295,404 297,194 1,324,398 OPERATING EXPENDITURES (608,509) (608,509) (834,430) (1,180,427) (2,837,324) (2,837,324) (1,862,477) (2,769,520) OPERATING INCOME/(LOSS)(21,360) (21,360) (533,892) 1,168,878 (1,541,920) (1,541,920) (1,565,283) (1,445,122) NONOPERATING REVENUES/(EXPENSES)INTEREST EARNINGS 4,200 4,200 126 130 250 250 639 700 TRANSFERS IN - - - - - - - - (TRANSFER OUT)(154,619) (154,619) (39,809) (154,619) (153,119) (153,119) (153,119) (153,119) NET OPERATING INCOME/(LOSS)(171,779) (171,779) (573,575) 1,014,389 (1,694,788) (1,694,788) (1,717,763) (1,597,540) BEGINNING FUND BALANCE 583,151 $ 583,151 $ 583,151 $ 583,151 $ 1,597,540 $ 1,597,540 $ 1,597,540 $ 1,597,540 $ ENDING FUND BALANCE (EXCLUDING OTHER FUNDS)411,372 $ 411,372 $ 9,576 $ 1,597,540 $ (97,248)$ (97,248)$ (120,223)$ (0)$ 95: EDC4B RESERVE FUND 120,137 $ 120,137 $ 119,732 $ 119,766 $ 120,006 $ 120,006 $ 119,819 $ 119,866 $ 19: EDC4B CAPITAL BOND FUND 1,017,184 $ 1,017,184 $ 756,848 $ 464,133 $ 119,383 $ 119,383 $ 116,398 $ (0)$ ENDING FUND BALANCE (INCLUDING OTHER FUNDS)1,548,693 $ 1,548,693 $ 886,157 $ 2,181,439 $ 142,141 $ 142,141 $ 115,993 $ 119,866 $ CITY OF KENNEDALE, TEXAS ANNUAL PROGRAM OF SERVICES FUND SUMMARY BY CATEGORY "EXEMPLIFYING EXCELLENCE" 15: EDC4B FUND FY10-11 FY10-11 FY10-11 FY10-11 FY11-12 FY11-12 FY11-12 FY11-12 FY10-11 FY11-12 CATEGORY BUDGET AMENDED YTD APR ACTUAL PROPOSED AMENDED YTD APR ESTIMATE YTD %YTD % BEGINNING FUND BALANCE 583,151 $ 583,151 $ 583,151 $ 583,151 $ 1,597,540 $ 1,597,540 $ 1,597,540 $ 1,597,540 $ AD VALOREM TAXES 23,467 23,467 36,018 52,138 42,466 42,466 26,709 42,466 153.5%62.9% SALES/BEVERAGE TAXES 324,438 324,438 144,988 366,165 352,666 352,666 161,669 381,660 44.7%45.8%INVESTMENT EARNINGS 4,200 4,200 126 130 250 250 639 700 3.0%255.5% MISCELLANEOUS INCOME - - - 21,916 676,000 676,000 4,250 676,000 0.0%0.6% SURPLUS SALES/RENTALS 239,244 239,244 119,533 209,087 224,272 224,272 104,566 224,272 50.0%46.6%TRANSFERS -$ -$ -$ 1,700,000 $ -$ -$ -$ -$ 0.0%0.0% TOTAL REVENUES 591,349 $ 591,349 $ 300,664 $ 2,349,435 $ 1,295,654 $ 1,295,654 $ 297,833 $ 1,325,098 $ 50.8%23.0% PERSONNEL - - - - - - - - 0.0%0.0% SUPPLIES 31,610 31,610 2,468 22,314 21,344 21,344 12,686 25,525 7.8%59.4% MAINTENANCE 17,790 17,790 17,427 21,749 22,856 22,856 17,790 23,631 98.0%77.8%SUNDRY 249,810 249,810 147,203 243,564 265,906 265,906 186,623 359,077 58.9%70.2% DEBT 111,798 111,798 52,302 125,701 313,243 313,243 1,232,103 1,250,315 46.8%393.3% TRANSFERS 154,619 154,619 39,809 154,619 153,119 153,119 153,119 153,119 25.7%100.0%CAPITAL 197,501 197,501 615,030 767,099 2,213,975 2,213,975 413,277 1,110,972 311.4%18.7% TOTAL EXPENDITURES 763,128 $ 763,128 $ 874,240 $ 1,335,046 $ 2,990,442 $ 2,990,442 $ 2,015,596 $ 2,922,638 $ 114.6%67.4% REVENUES OVER EXPENDITURES (171,779)$ (171,779)$ (573,575)$ 1,014,389 $ (1,694,788)$ (1,694,788)$ (1,717,763)$ (1,597,540)$ ENDING FUND BALANCE 411,372 $ 411,372 $ 9,576 $ 1,597,540 $ (97,248)$ (97,248)$ (120,223)$ (0)$ ADJUSTMENTS FUND BALANCE AS % OF EXP 53.9%53.9%1.1%119.7%-3.3%-3.3%-6.0%0.0% RESERVE (NO REQUIREMENT)-$ -$ -$ -$ -$ -$ -$ -$ RESERVE SURPLUS/(SHORTFALL)411,372 $ 411,372 $ 9,576 $ 1,597,540 $ (97,248)$ (97,248)$ (120,223)$ (0)$ CITY OF KENNEDALE, TEXAS ANNUAL PROGRAM OF SERVICES REVENUE LINE ITEM SUMMARY "EXEMPLIFYING EXCELLENCE" 15: EDC4B FUND FY10-11 FY10-11 FY10-11 FY10-11 FY11-12 FY11-12 FY11-12 FY11-12 FY10-11 FY11-12 ACCOUNT ACCOUNT NAME BUDGET AMENDED YTD APR ACTUAL PROPOSED AMENDED YTD APR ESTIMATE YTD %YTD % 4001-00-00 PROPERTY TAX-CURRENT YEAR - - - - - - - - 0.0%0.0%4002-00-00 MMD TAX-CURRENT YEAR 23,467 23,467 36,018 52,138 42,466 42,466 26,709 42,466 153.5%62.9%AD VALOREM TAXES 23,467 $ 23,467 $ 36,018 $ 52,138 $ 42,466 $ 42,466 $ 26,709 $ 42,466 $ 153.5%62.9% 4081-00-00 SALES TAX 324,438 324,438 144,988 366,165 352,666 352,666 161,669 381,660 44.7%45.8% 4082-00-00 MIXED BEVERAGE TAX - - - - - - - - 0.0%0.0%SALES/BEVERAGE TAXES 324,438 $ 324,438 $ 144,988 $ 366,165 $ 352,666 $ 352,666 $ 161,669 $ 381,660 $ 44.7%45.8% 4401-00-00 INVESTMENT INCOME 4,200 4,200 126 130 250 250 639 700 3.0%255.5%INVESTMENT EARNINGS 4,200 $ 4,200 $ 126 $ 130 $ 250 $ 250 $ 639 $ 700 $ 3.0%255.5% 4409-00-00 MISCELLANEOUS INCOME - - - 21,916 676,000 676,000 4,250 676,000 0.0%0.6% 4411-00-00 TEXAS LEVERAGE FUND PROGRAM - - - - - - - - 0.0%0.0%4415-00-00 INSURANCE REIMBURSEMENT - - - - - - - - 0.0%0.0%MISCELLANEOUS INCOME -$ -$ -$ 21,916 $ 676,000 $ 676,000 $ 4,250 $ 676,000 $ 0.0%0.6% 4805-00-00 RENTAL FEES-SHOPPING CENTER 235,244 235,244 119,820 208,534 220,272 220,272 104,364 220,272 50.9%47.4%4806-00-00 RENTAL INSURANCE 4,000 4,000 (287) 553 4,000 4,000 202 4,000 -7.2%5.0%SURPLUS SALES/RENTALS 239,244 $ 239,244 $ 119,533 $ 209,087 $ 224,272 $ 224,272 $ 104,566 $ 224,272 $ 50.0%46.6% 4902-00-00 PROCEEDS - DEBT/LOAN ISSUANCE - - - 1,700,000 - - - - 0.0%0.0%TRANSFERS -$ -$ -$ 1,700,000 $ -$ -$ -$ -$ 0.0%0.0% TOTAL REVENUES 591,349 $ 591,349 $ 300,664 $ 2,349,435 $ 1,295,654 $ 1,295,654 $ 297,833 $ 1,325,098 $ 50.8%23.0% TOTAL REVENUES (EXCLUDING INTEREST/TRANSFERS)587,149 $ 587,149 $ 300,538 $ 649,305 $ 1,295,404 $ 1,295,404 $ 297,194 $ 1,324,398 $ 10% ADMIN CHARGE-GENERAL FUND 58,715 58,715 42,250 64,931 129,540 129,540 29,719 132,440 $15,000 $20,000 $25,000 $30,000 $35,000 $40,000 $45,000 $50,000 $55,000 $60,000 $65,000 $70,000 $75,000 $80,000 $85,000 $90,000 $95,000 $100,000 $105,000 $110,000 $115,000 $120,000 $125,000 $130,000 $135,000 $140,000 $145,000 $150,000 OCT NOV DEC JAN FEB MAR APR MAY JUN JUL AUG SEP Economic Development Corporation Sales Tax Revenue Three Year History 2008-09 ACTUAL 2009-10 ACTUAL 2010-11 ACTUAL 2011-12 ACTUAL 24,368 39,515 24,331 28,700 38,020 25,672 27,583 37,335 24,899 25,572 28,137 36,010 24,368 39,515 24,331 28,700 38,020 24,647 26,558 36,310 23,874 24,547 26,962 34,835 31,540 37,196 38,349 29,926 30,992 24,484 37,230 $15,000 $20,000 $25,000 $30,000 $35,000 $40,000 $45,000 OCT NOV DEC JAN FEB MAR APR MAY JUN JUL AUG SEP Year Economic Development Corporation Sales Tax Revenue FY2011 -12 Monthly History 2010-11 ACTUAL 2011-12 BUDGET 2011-12 ACTUAL Sales Tax Collections ECONOMIC DEVELOPMENT CORPORATION 4B SALES TAX - $0.005 2002-03 2003-04 2004-05 2005-06 2006-07 2007-08 2008-09 2009-10 2010-11 2011-12 2011-12 2011-12 GAIN/GAIN/YTD 2011-12 ACTUAL ACTUAL ACTUAL ACTUAL ACTUAL ACTUAL ACTUAL ACTUAL ACTUAL BUDGET ACTUAL YTD LOSS LOSS CUM ESTIMATE OCT 25,015 26,737 27,574 30,493 26,719 21,880 22,001 19,568 24,368 24,368 31,540 31,540 7,172 29.4%29.4%31,540 NOV 34,511 33,807 28,806 33,284 41,109 30,548 33,732 27,081 39,515 39,515 37,196 68,736 (2,319) -5.9%7.6%37,196 DEC 23,399 26,428 23,373 24,372 23,107 23,438 30,093 18,417 24,331 24,331 38,349 107,085 14,019 57.6%21.4%38,349 JAN 23,198 21,991 22,728 23,443 26,331 22,677 19,433 18,102 28,700 28,700 29,926 137,011 1,226 4.3%17.2%29,926 FEB 32,631 35,744 33,862 35,625 29,751 29,839 33,556 24,379 38,020 38,020 30,992 168,004 (7,027) -18.5%8.4%30,992 MAR 23,889 22,465 21,345 24,975 16,997 21,830 17,063 18,010 25,672 24,647 24,484 192,488 (162) -4.6%6.6%24,484 APR 20,435 23,465 21,936 24,036 25,672 24,231 22,636 18,030 27,583 26,558 37,230 229,718 10,672 35.0%10.3%37,230 MAY 35,360 36,121 36,355 35,851 32,194 31,278 30,806 55,683 37,335 36,310 41,230 270,948 4,920 10.4%10.4%41,230 JUN 22,968 33,889 24,011 27,616 26,993 24,985 21,608 29,762 24,899 23,874 24,369 295,317 494 -2.1%9.2%24,369 JUL 25,600 25,928 25,987 24,299 27,477 30,517 17,906 141,681 25,572 24,547 24,547 319,863 - -4.0%8.1%24,547 AUG 32,378 30,767 34,222 35,983 28,340 38,499 33,664 34,381 28,137 26,962 26,962 346,825 - -4.2%7.0%26,962 SEP 26,060 25,710 22,677 27,368 30,430 23,534 24,245 27,457 36,010 34,835 34,835 381,660 - -3.3%6.0%34,835 325,445 343,051 322,876 347,346 335,121 323,256 306,744 432,550 360,141 352,666 381,660 28,994 381,660 -2.62%5.41%-5.88%7.58%-3.52%-3.54%-5.11%41.01%-16.74%-2.08%5.98%5.98% ACCOUNT OCT NOV DEC JAN FEB MAR APR MAY JUN JUL AUG SEP TOTAL INCOME Rental Income 17,468.00 $ 17,468.00 $ 17,468.00 $ 17,468.00 $ 14,668.00 $ 15,090.92 $ 15,090.92 $ 15,090.92 $ -$ -$ -$ -$ 129,812.76 $ Tax Escrows 3,224.02 $ 11,399.98 $ 3,224.02 $ 3,224.02 $ 2,898.37 $ 2,738.95 $ 2,738.95 $ 2,738.95 $ -$ -$ -$ -$ 32,187.26 $ Insurance Escrows 38.37 $ 38.37 $ 38.37 $ 38.37 $ 23.95 $ 24.37 $ 24.37 $ 24.37 $ -$ -$ -$ -$ 250.54 $ CAM Escrows 814.70 $ 814.70 $ 814.70 $ 814.70 $ 737.16 $ 737.16 $ 737.16 $ 737.16 $ -$ -$ -$ -$ 6,207.44 $ Security Deposit -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ TOTAL INCOME 21,545.09 $ 29,721.05 $ 21,545.09 $ 21,545.09 $ 18,327.48 $ 18,591.40 $ 18,591.40 $ 18,591.40 $ -$ -$ -$ -$ 168,458.00 $ EXPENSES General & Admin -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ Property Mgmt 500.00 $ 500.00 $ 500.00 $ 500.00 $ 500.00 $ 500.00 $ 500.00 $ 500.00 $ -$ -$ -$ -$ 4,000.00 $ Office Expenses -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ Legal Services -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ Rental Commissions -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ Electricity 329.26 $ 361.84 $ 384.35 $ 458.41 $ -$ -$ 749.37 $ -$ -$ -$ -$ -$ 2,283.23 $ Sweeping 326.00 $ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ 326.00 $ Porter service -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ Landscape 638.28 $ 638.28 $ 638.28 $ 1,442.68 $ 638.00 $ 638.28 $ 638.28 $ 638.28 $ -$ -$ -$ -$ 5,910.36 $ Fire Sprinkler/Alarm 150.00 $ -$ -$ 150.00 $ -$ -$ 150.00 $ -$ -$ -$ -$ -$ 450.00 $ Asphalt -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ Landscape Materials -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ Maintenance/Construction 3,299.60 $ 5,132.36 $ -$ 1,650.00 $ 607.58 $ 1,065.00 $ 1,714.00 $ -$ -$ -$ -$ -$ 13,468.54 $ Roofing Repair -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ Signage -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ TOTAL EXPENSES 5,243.14 $ 6,632.48 $ 1,522.63 $ 4,201.09 $ 1,745.58 $ 2,203.28 $ 3,751.65 $ 1,138.28 $ -$ -$ -$ -$ 26,438.13 $ ADJUSTMENTS Operating Balance -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ TOTAL ADJUSTMENTS -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ NET PROFIT/(LOSS) - CHECK 16,301.95 $ 23,088.57 $ 20,022.46 $ 17,344.00 $ 16,581.90 $ 16,388.12 $ 14,839.75 $ 17,453.12 $ -$ -$ -$ -$ 142,019.87 $ Total Rental Income Posted 18,282.70 $ 18,282.70 $ 18,282.70 $ 18,282.70 $ 15,405.16 $ 15,828.08 $ 15,828.08 $ 15,828.08 $ -$ -$ -$ -$ 136,020.20 $ CYPRESS HISTORY FOR KENNEDALE TOWN SHOPPING CENTER FY2011-2012 ACCOUNT OCT NOV DEC JAN FEB MAR APR MAY JUN JUL AUG SEP TOTAL INCOME Rental Income 16,568.00 $ 16,568.00 $ 16,568.00 $ 16,568.00 $ 16,568.00 $ 16,568.00 $ 16,568.00 $ 16,568.00 $ 16,568.00 $ 16,568.00 $ 17,468.00 $ 17,468.00 $ 200,616.00 $ Tax Escrows 1,669.00 $ 1,669.00 $ 1,669.00 $ 3,455.24 $ 12,434.32 $ 7,544.56 $ 3,953.93 $ 3,224.02 $ 3,224.02 $ 3,224.02 $ 3,224.02 $ 3,224.02 $ 48,515.15 $ Insurance Escrows 142.00 $ 142.00 $ 142.00 $ 90.81 $ 38.37 $ 38.37 $ 38.37 $ 38.37 $ 38.37 $ 687.30 $ 38.37 $ 38.37 $ 1,472.70 $ CAM Escrows 1,040.00 $ 1,040.00 $ 1,040.00 $ 983.50 $ 814.70 $ 814.70 $ 814.70 $ 814.70 $ 814.70 $ 814.70 $ 814.70 $ 814.70 $ 10,621.10 $ Security Deposit -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ TOTAL INCOME 19,419.00 $ 19,419.00 $ 19,419.00 $ 21,097.55 $ 29,855.39 $ 24,965.63 $ 21,375.00 $ 20,645.09 $ 20,645.09 $ 21,294.02 $ 21,545.09 $ 21,545.09 $ 261,224.95 $ EXPENSES General & Admin -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ Property Mgmt 500.00 $ 500.00 $ 500.00 $ 500.00 $ 500.00 $ 500.00 $ 500.00 $ 500.00 $ 500.00 $ 500.00 $ 500.00 $ 500.00 $ 6,000.00 $ Office Expenses -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ Legal Services -$ -$ -$ -$ -$ -$ 80.00 $ -$ -$ -$ -$ -$ 80.00 $ Rental Commissions -$ -$ -$ -$ -$ 5,040.00 $ 5,040.00 $ -$ -$ -$ -$ -$ 10,080.00 $ Electricity 35.99 $ 35.99 $ 71.98 $ 35.99 $ 90.30 $ 232.48 $ 294.52 $ 415.64 $ 700.26 $ 625.61 $ 373.86 $ 296.64 $ 3,209.26 $ Sweeping 300.00 $ 300.00 $ 300.00 $ 300.00 $ 300.00 $ 300.00 $ -$ -$ -$ -$ -$ -$ 1,800.00 $ Porter service -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ Landscape 320.00 $ 320.00 $ 320.00 $ 320.00 $ 870.00 $ 620.00 $ 638.28 $ 638.28 $ 638.28 $ 1,618.28 $ 638.28 $ 638.28 $ 7,579.68 $ Fire Sprinkler/Alarm 150.00 $ -$ -$ 150.00 $ -$ -$ 150.00 $ -$ -$ 150.00 $ -$ -$ 600.00 $ Asphalt -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ Landscape Materials -$ -$ -$ -$ -$ 2,963.38 $ -$ -$ -$ -$ -$ -$ 2,963.38 $ Maintenance/Construction 75.00 $ -$ -$ 2,725.83 $ 3,179.04 $ 2,725.83 $ -$ -$ -$ -$ -$ -$ 8,705.70 $ Roofing Repair -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ Signage -$ -$ -$ -$ -$ -$ 100.00 $ -$ -$ -$ -$ -$ 100.00 $ TOTAL EXPENSES 1,380.99 $ 1,155.99 $ 1,191.98 $ 4,031.82 $ 4,939.34 $ 12,381.69 $ 6,802.80 $ 1,553.92 $ 1,838.54 $ 2,893.89 $ 1,512.14 $ 1,434.92 $ 41,118.02 $ ADJUSTMENTS Operating Balance -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ TOTAL ADJUSTMENTS -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ NET PROFIT/(LOSS) - CHECK 18,038.01 $ 18,263.01 $ 18,227.02 $ 17,065.73 $ 24,916.05 $ 12,583.94 $ 14,572.20 $ 19,091.17 $ 18,806.55 $ 18,400.13 $ 20,032.95 $ 20,110.17 $ 220,106.93 $ Total Rental Income Posted 17,608.00 $ 17,608.00 $ 17,608.00 $ 17,551.50 $ 17,382.70 $ 17,382.70 $ 17,382.70 $ 17,382.70 $ 17,382.70 $ 17,382.70 $ 18,282.70 $ 18,282.70 $ 211,237.10 $ CYPRESS HISTORY FOR KENNEDALE TOWN SHOPPING CENTER FY2010-2011 CITY OF KENNEDALE, TEXAS ANNUAL PROGRAM OF SERVICES EXPENDITURE LINE ITEM SUMMARY "EXEMPLIFYING EXCELLENCE" 15: EDC4B FUND 01: ADMINISTRATION FY10-11 FY10-11 FY10-11 FY10-11 FY11-12 FY11-12 FY11-12 FY11-12 FY10-11 FY11-12 ACCOUNT ACCOUNT NAME BUDGET AMENDED YTD APR ACTUAL PROPOSED AMENDED YTD APR ESTIMATE YTD %YTD % 5101-01-00 SALARIES - - - - - - - - 0.0%0.0% 5107-01-00 OVERTIME - - - - - - - - 0.0%0.0% 5111-01-00 AUTO ALLOWANCE - - - - - - - - 0.0%0.0%5114-01-00 LONGEVITY - - - - - - - - 0.0%0.0% 5115-01-00 RETIREMENT - - - - - - - - 0.0%0.0%5116-01-00 UNEMPLOYMENT INSURANCE - - - - - - - - 0.0%0.0% 5117-01-00 FICA - - - - - - - - 0.0%0.0% 5118-01-00 MEDICAL INSURANCE - - - - - - - - 0.0%0.0%5120-01-00 LIFE INSURANCE - - - - - - - - 0.0%0.0% 5121-01-00 DENTAL INSURANCE - - - - - - - - 0.0%0.0%5122-01-00 VISION INSURANCE - - - - - - - - 0.0%0.0% 5190-01-00 VACATION/SICK/TERM/LEAVE ADJ - - - - - - - - 0.0%0.0% PERSONNEL -$ -$ -$ -$ -$ -$ -$ -$ 0.0%0.0% 5220-01-00 UNIFORMS 300 300 - - 300 300 - 300 0.0%0.0% 5240-01-00 PRINTED SUPPLIES 22,000 22,000 2,457 4,466 16,544 16,544 4,447 16,544 11.2%26.9% 5260-01-00 GENERAL OFFICE SUPPLIES 250 250 12 12 250 250 - 250 4.7%0.0%5261-01-00 POSTAGE 500 500 - 59 250 250 58 250 0.0%23.1% 5280-01-00 MINOR EQUIP/SMALL TOOLS<$5K - - - - - - - - 0.0%0.0%5290-01-00 EXPENDABLE SUPPLIES 4,000 4,000 - 17,778 4,000 4,000 8,181 8,181 0.0%204.5% SUPPLIES 27,050 $ 27,050 $ 2,468 $ 22,314 $ 21,344 $ 21,344 $ 12,686 $ 25,525 $ 9.1%59.4% 5403-01-00 BUILDING MAINTENANCE - - - - - - 775 775 0.0%#DIV/0!5440-01-00 OFFICE EQUIP/SOFTWARE MAINT - - - - - - - - 0.0%0.0% MAINTENANCE -$ -$ -$ -$ -$ -$ 775 $ 775 $ 0.0%#DIV/0! 5501-01-00 ADVERTISING 5,000 5,000 - 1,436 5,000 5,000 2,871 5,000 0.0%57.4%5510-01-00 ASSOC DUES/PUBLICATIONS 3,375 3,375 1,006 2,460 2,350 2,350 3,349 3,400 29.8%142.5% 5512-01-00 CONTRACTUAL SERVICES - - - - - - - - 0.0%0.0%5525-01-00 TRAINING/SEMINARS 1,000 1,000 - - 1,000 1,000 - 1,000 0.0%0.0% 5565-01-00 LEGAL SERVICES 25,000 25,000 2,593 7,581 10,000 10,000 3,914 40,000 10.4%39.1% 5567-01-00 AUDIT SERVICES 1,500 1,500 - 1,500 1,500 1,500 1,500 1,500 0.0%100.0%5569-01-00 IT SUPPORT - - - - - - - - 0.0%0.0% 5570-01-00 SPECIAL SERVICES 95,420 95,420 64,944 126,611 86,036 86,036 64,837 86,036 68.1%75.4%5575-01-00 EQUIPMENT RENTAL - - - - - - - - 0.0%0.0% 5578-01-00 TRAVEL 700 700 22 22 700 700 - 700 3.2%0.0% 5580-01-00 ENGINEERING SERVICES - - - - - - 53,794 60,221 0.0%#DIV/0!5585-01-00 TELEPHONE SERVICES - - - - - - - - 0.0%0.0% 5595-01-00 ADMIN CHARGE-GENERAL FUND 58,715 58,715 36,442 69,885 129,540 129,540 29,719 129,540 62.1%22.9%SUNDRY 190,710 $ 190,710 $ 105,007 $ 209,494 $ 236,126 $ 236,126 $ 159,984 $ 327,397 $ 55.1%67.8% 5610-01-00 VISUAL GRANT - - - - - - - - 0.0%0.0%5615-01-00 FUNCTIONAL GRANT - - - - - - - - 0.0%0.0% 5625-01-00 ISSUANCE COST - - - - - - - - 0.0%0.0% DEBT -$ -$ -$ -$ -$ -$ -$ -$ 0.0%0.0% 5701-01-00 TRANSFER OUT-GENERAL FUND - - - - - - - - 0.0%0.0%5714-01-00 TRANSFER OUT-DEDICATION FUND - - - - - - - - 0.0%0.0% 5795-01-00 TRANSFER OUT-EDC RESERVE FUND - - - - - - - - 0.0%0.0% TRANSFERS -$ -$ -$ -$ -$ -$ -$ -$ 0.0%0.0% 5800-01-00 LAND 10,000 10,000 9,242 293,392 325,000 325,000 161,582 227,763 92.4%49.7%5813-01-00 KENNEDALE ENTRANCE SIGN 45,000 45,000 - - 45,000 45,000 - - 0.0%0.0% 5820-01-00 BUILDING IMPROVEMENT 15,000 15,000 - - 15,000 15,000 39,209 39,209 0.0%261.4% 5875-01-00 CONSTRUCTION - - - 18,644 - - 88,463 84,000 0.0%#DIV/0!CAPITAL 70,000 $ 70,000 $ 9,242 $ 312,036 $ 385,000 $ 385,000 $ 289,253 $ 350,972 $ 13.2%75.1% TOTAL EXPENDITURES 287,760 $ 287,760 $ 116,718 $ 543,844 $ 642,470 $ 642,470 $ 462,698 $ 704,669 $ 40.6%72.0% CITY OF KENNEDALE, TEXAS ANNUAL PROGRAM OF SERVICES EXPENDITURE LINE ITEM SUMMARY "EXEMPLIFYING EXCELLENCE" 15: EDC4B FUND 01: ADMINISTRATION 03: DEBT SERVICE FY10-11 FY10-11 FY10-11 FY10-11 FY11-12 FY11-12 FY11-12 FY11-12 FY10-11 FY11-12 ACCOUNT ACCOUNT NAME BUDGET AMENDED YTD APR ACTUAL PROPOSED AMENDED YTD APR ESTIMATE YTD %YTD % 5620-01-03 ISSUANCE COSTS - - - - - - - - 0.0%0.0% 5621-01-03 PAYING AGENT FEES - - - - - - - - 0.0%0.0%5643-01-03 2007 $1.2M TAX BOND-INTEREST 76,798 76,798 38,277 76,676 74,365 74,365 74,210 74,365 49.8%99.8%5644-01-03 2007 $1.2M TAX BOND-PRINCIPAL 35,000 35,000 - 35,000 40,000 40,000 40,000 40,000 0.0%100.0%5645-01-03 2011 $1.7M TX LEVERAGE-INT - - - - 50,479 50,479 20,214 26,893 0.0%40.0% 5646-01-03 2011 $1.7M TX LEVERAGE-PRI - - - - 131,399 131,399 1,080,679 1,092,058 0.0%822.4% DEBT 111,798 $ 111,798 $ 38,277 $ 111,676$ 296,243 $ 296,243 $ 1,215,103 $ 1,233,315 $ 34.2%410.2% 5702-01-03 TRANSFER OUT-DEBT SERVICE FUND 154,619 154,619 39,809 154,619 153,119 153,119 153,119 153,119 25.7%100.0% TRANSFER 154,619 $ 154,619 $ 39,809 $ 154,619$ 153,119 $ 153,119 $ 153,119 $ 153,119 $ 25.7%100.0% TOTAL EXPENDITURES 266,417 $ 266,417 $ 78,087 $ 266,295$ 449,362 $ 449,362 $ 1,368,221 $ 1,386,434 $ 29.3%304.5% CITY OF KENNEDALE, TEXAS ANNUAL PROGRAM OF SERVICES EXPENDITURE LINE ITEM SUMMARY "EXEMPLIFYING EXCELLENCE" 15: EDC4B FUND 02: TOWN SHOPPING CENTER FY10-11 FY10-11 FY10-11 FY10-11 FY11-12 FY11-12 FY11-12 FY11-12 FY10-11 FY11-12 ACCOUNT ACCOUNT NAME BUDGET AMENDED YTD APR ACTUAL PROPOSED AMENDED YTD APR ESTIMATE YTD %YTD % 5280-02-00 MINOR EQUIP/SMALL TOOLS<$5K 4,560 4,560 - - - - - - 0.0%0.0% SUPPLIES 4,560 $ 4,560 $ -$ -$ -$ -$ -$ -$ 0.0%0.0% 5403-02-00 BUILDING MAINTENANCE 17,790 17,790 17,427 21,749 22,856 22,856 17,014 22,856 98.0%74.4% MAINTENANCE 17,790 $ 17,790 $ 17,427 $ 21,749 $ 22,856 $ 22,856 $ 17,014 $ 22,856 $ 98.0%74.4% 5501-02-00 ADVERTISING - - - - - - - - 0.0%0.0% 5510-02-00 ASSOC DUES/PUBLICATIONS - - - - - - - - 0.0%0.0%5512-02-00 CONTRACTUAL SERVICES - - - - - - - - 0.0%0.0% 5530-02-00 ELECTRIC SERVICES 7,800 7,800 797 3,209 4,200 4,200 1,534 4,200 10.2%36.5%5545-02-00 INSURANCE-PROPERTY 4,000 4,000 3,401 3,401 4,000 4,000 5,881 5,900 85.0%147.0% 5565-02-00 LEGAL SERVICES - - - - - - - - 0.0%0.0% 5570-02-00 SPECIAL SERVICES 6,000 6,000 13,660 16,160 11,580 11,580 9,399 11,580 227.7%81.2%SUNDRY 17,800 $ 17,800 $ 17,858 $ 22,770 $ 19,780 $ 19,780 $ 16,814 $ 21,680 $ 100.3%85.0% TOTAL EXPENDITURES 40,150 $ 40,150 $ 35,285 $ 44,519 $ 42,636 $ 42,636 $ 33,828 $ 44,536 $ 87.9%79.3% CITY OF KENNEDALE, TEXAS ANNUAL PROGRAM OF SERVICES EXPENDITURE LINE ITEM SUMMARY "EXEMPLIFYING EXCELLENCE" 15: EDC4B FUND 03: TOWN CENTER REDEVELOPMENT FY10-11 FY10-11 FY10-11 FY10-11 FY11-12 FY11-12 FY11-12 FY11-12 FY10-11 FY11-12 ACCOUNT ACCOUNT NAME BUDGET AMENDED YTD APR ACTUAL PROPOSED AMENDED YTD APR ESTIMATE YTD %YTD % 5570-03-00 SPECIAL SERVICES - - - - - - - - 0.0%0.0% 5579-03-00 ARCHITECT/DESIGN SERVICES 26,000 26,000 - - - - - - 0.0%0.0% 5580-03-00 ENGINEERING SERVICES 15,300 15,300 24,338 11,300 10,000 10,000 - 10,000 159.1%0.0% SUNDRY 41,300 $ 41,300 $ 24,338 $ 11,300 $ 10,000 $ 10,000 $ -$ 10,000 $ 58.9%0.0% 5800-03-00 LAND - - - - - - - - 0.0%0.0% 5847-03-00 CONSTRUCTION 127,501 127,501 605,787 455,063 160,000 160,000 124,024 160,000 475.1%77.5% CAPITAL 127,501 $ 127,501 $ 605,787$ 455,063 $ 160,000 $ 160,000 $ 124,024$ 160,000 $ 475.1%77.5% 168,801 $ 168,801 $ 630,125$ 466,363 $ 170,000 $ 170,000 $ 124,024$ 170,000 $ 373.3%73.0% CITY OF KENNEDALE, TEXAS ANNUAL PROGRAM OF SERVICES EXPENDITURE LINE ITEM SUMMARY "EXEMPLIFYING EXCELLENCE" 15: EDC4B FUND 04: TEXAS LEVERAGE FUND PROGRAM FY10-11 FY10-11 FY10-11 FY10-11 FY11-12 FY11-12 FY11-12 FY11-12 FY10-11 FY11-12 ACCOUNT ACCOUNT NAME BUDGET AMENDED YTD APR ACTUAL PROPOSED AMENDED YTD APR ESTIMATE YTD %YTD % 5565-04-00 LEGAL SERVICES - - - - - - 9,825 - 0.0%#DIV/0! SUNDRY -$ -$ -$ -$ -$ -$ 9,825 $ -$ 0.0%#DIV/0! 5615-04-00 FUNCTIONAL GRANT - - 14,025 14,025 - - - - #DIV/0!0.0%5620-04-00 ISSUANCE COSTS - - - - 17,000 17,000 17,000 17,000 0.0%100.0% DEBT -$ -$ 14,025 $ 14,025 $ 17,000 $ 17,000 $ 17,000 $ 17,000 $ #DIV/0!100.0% 5847-03-00 CONSTRUCTION - - - - 1,668,975 1,668,975 - 600,000 0.0%0.0% CAPITAL -$ -$ -$ -$ 1,668,975 $ 1,668,975 $ -$ 600,000 $ 0.0%0.0% -$ -$ 14,025 $ 14,025 $ 1,685,975 $ 1,685,975 $ 26,825 $ 617,000 $ #DIV/0!1.6% CITY OF KENNEDALE, TEXAS ANNUAL PROGRAM OF SERVICES FUND SUMMARY BY CATEGORY "EXEMPLIFYING EXCELLENCE" 19: EDC4B CAPITAL BOND FUND FY10-11 FY10-11 FY10-11 FY10-11 FY11-12 FY11-12 FY11-12 FY11-12 FY10-11 FY11-12 CATEGORY BUDGET AMENDED YTD APR ACTUAL PROPOSED AMENDED YTD APR ESTIMATE YTD %YTD % BEGINNING FUND BALANCE 1,279,351 $ 1,279,351 $ 1,279,351 $ 1,279,351 $ 464,133 $ 464,133 $ 464,133 $ 464,133 $ INVESTMENT EARNINGS 500 500 1,117 1,310 250 250 177 250 223.4%70.6% TRANSFERS - - - - - - - - 0.0%0.0% TOTAL REVENUES 500 $ 500 $ 1,117 $ 1,310 $ 250 $ 250 $ 177 $ 250 $ 223.4%70.6% MAINTENANCE - - - - - - - - 0.0%0.0% SUNDRY 28,143 28,143 61,625 100,371 250,000 250,000 23,220 129,383 219.0%9.3% CAPITAL 234,524 234,524 461,994 716,157 95,000 95,000 324,691 335,000 197.0%341.8%TOTAL EXPENDITURES 262,667 $ 262,667 $ 523,619 $ 816,529 $ 345,000 $ 345,000 $ 347,911 $ 464,383 $ 199.3%100.8% REVENUES OVER EXPENDITURES (262,167)$ (262,167)$ (522,502)$ (815,218)$ (344,750)$ (344,750)$ (347,735)$ (464,133)$ ENDING FUND BALANCE 1,017,184 $ 1,017,184 $ 756,848 $ 464,133 $ 119,383 $ 119,383 $ 116,398 $ (0)$ ADJUSTMENTS FUND BALANCE AS % OF EXP 387.3%387.3%144.5%56.8%34.6%34.6%33.5%0.0% RESERVE (NO REQUIREMENT)-$ -$ -$ -$ -$ -$ -$ -$ RESERVE SURPLUS/(SHORTFALL)1,017,184 $ 1,017,184 $ 756,848 $ 464,133 $ 119,383 $ 119,383 $ 116,398 $ (0)$ CITY OF KENNEDALE, TEXAS ANNUAL PROGRAM OF SERVICES REVENUE/EXPENDITURE LINE ITEM SUMMARY "EXEMPLIFYING EXCELLENCE" 19: EDC4B CAPITAL BOND FUND FY10-11 FY10-11 FY10-11 FY10-11 FY11-12 FY11-12 FY11-12 FY11-12 FY10-11 FY11-12 ACCOUNT ACCOUNT NAME BUDGET AMENDED YTD APR ACTUAL PROPOSED AMENDED YTD APR ESTIMATE YTD %YTD % 4401-00-00 INVESTMENT INCOME 500 500 1,117 1,310 250 250 177 250 223.4%70.6%INVESTMENT EARNINGS 500 $ 500 $ 1,117 $ 1,310 $ 250 $ 250 $ 177 $ 250 $ 223.4%70.6% 4913-00-00 TRANSFER IN-CAPITAL BOND FUND - - - - - - - - 0.0%0.0%TRANSFERS -$ -$ -$ -$ -$ -$ -$ -$ 0.0%0.0% TOTAL REVENUES 500 $ 500 $ 1,117 $ 1,310 $ 250 $ 250 $ 177 $ 250 $ 223.4%70.6% 19: EDC4B CAPITAL BOND FUND 01: TOWN CENTER REDEVELOPMENT FY10-11 FY10-11 FY10-11 FY10-11 FY11-12 FY11-12 FY11-12 FY11-12 FY10-11 FY11-12 ACCOUNT ACCOUNT NAME BUDGET AMENDED YTD APR ACTUAL PROPOSED AMENDED YTD APR ESTIMATE YTD %YTD % 5403-01-00 BUILDING MAINTENANCE - - - - - - - - 0.0%0.0%MAINTENANCE -$ -$ -$ -$ -$ -$ -$ -$ 0.0%0.0% 5525-01-00 TRAINING/SEMINARS - - - - - - - - 0.0%0.0% 5570-01-00 SPECIAL SERVICES - - - 15,400 240,000 240,000 13,750 119,383 0.0%5.7% 5579-01-00 ARCHITECT/DESIGN SERVICES - - 30,263 37,217 - - - - #DIV/0!0.0%5580-01-00 ENGINEERING SERVICES 28,143 28,143 31,363 47,755 10,000 10,000 9,470 10,000 111.4%94.7%SUNDRY 28,143 $ 28,143 $ 61,625 $ 100,371 $ 250,000 $ 250,000 $ 23,220 $ 129,383 $ 219.0%9.3% 5800-01-00 LAND - - 6,473 7,558 25,000 25,000 - - #DIV/0!0.0%5847-01-00 CONSTRUCTION 234,524 234,524 455,521 708,600 70,000 70,000 324,691 335,000 194.2%463.8%CAPITAL 234,524 $ 234,524 $ 461,994 $ 716,157 $ 95,000 $ 95,000 $ 324,691 $ 335,000 $ 197.0%341.8% TOTAL EXPENDITURES 262,667 $ 262,667 $ 523,619 $ 816,529 $ 345,000 $ 345,000 $ 347,911 $ 464,383 $ 199.3%100.8% CITY OF KENNEDALE, TEXAS ANNUAL PROGRAM OF SERVICES FUND SUMMARY BY CATEGORY "EXEMPLIFYING EXCELLENCE" 95: EDC4B RESERVE FUND FY10-11 FY10-11 FY10-11 FY10-11 FY11-12 FY11-12 FY11-12 FY11-12 FY10-11 FY11-12 CATEGORY BUDGET AMENDED YTD APR ACTUAL PROPOSED AMENDED YTD APR ESTIMATE YTD %YTD % BEGINNING FUND BALANCE 119,637 $ 119,637 $ 119,637 $ 119,637 $ 119,766 $ 119,766 $ 119,766 $ 119,766 $ INVESTMENT EARNINGS 500 500 95 129 240 240 52 100 19.1%21.9%TRANSFERS - - - - - - - - 0.0%0.0%TOTAL REVENUES 500 $ 500 $ 95 $ 129 $ 240 $ 240 $ 52 $ 100 $ 19.1%21.9% TRANSFERS - - - - - - - - 0.0%0.0%TOTAL EXPENDITURES -$ -$ -$ -$ -$ -$ -$ -$ 0.0%0.0% REVENUES OVER EXPENDITURES 500 $ 500 $ 95 $ 129 $ 240 $ 240 $ 52 $ 100 $ ENDING FUND BALANCE 120,137 $ 120,137 $ 119,732 $ 119,766 $ 120,006 $ 120,006 $ 119,819 $ 119,866 $ ADJUSTMENTS - - - - - - - - FUND BALANCE AS % OF EXP N/A N/A N/A N/A N/A N/A N/A N/A RESERVE ($112,606 REQUIREMENT)112,606 $ 112,606 $ 112,606 $ 112,606 $ 112,606 $ 112,606 $ 112,606 $ 112,606 $ RESERVE SURPLUS/(SHORTFALL)7,531 $ 7,531 $ 7,126 $ 7,160 $ 7,400 $ 7,400 $ 7,213 $ 7,260 $ CITY OF KENNEDALE, TEXAS ANNUAL PROGRAM OF SERVICES REVENUE/EXPENDITURE LINE ITEM SUMMARY "EXEMPLIFYING EXCELLENCE" 95: EDC4B RESERVE FUND FY10-11 FY10-11 FY10-11 FY10-11 FY11-12 FY11-12 FY11-12 FY11-12 FY10-11 FY11-12 ACCOUNT ACCOUNT NAME BUDGET AMENDED YTD APR ACTUAL PROPOSED AMENDED YTD APR ESTIMATE YTD %YTD % 4401-00-00 INVESTMENT INCOME 500 500 95 129 240 240 52 100 19.1%21.9%INVESTMENT EARNINGS 500 $ 500 $ 95 $ 129 $ 240 $ 240 $ 52 $ 100 $ 19.1%21.9% 4915-00-00 TRANSFER IN-EDC FUND - - - - - - - - 0.0%0.0% 4920-00-00 TRANSFER IN - - - - - - - - 0.0%0.0%OTHER AGENCY -$ -$ -$ -$ -$ -$ -$ -$ 0.0%0.0% TOTAL REVENUES 500 $ 500 $ 95 $ 129 $ 240 $ 240 $ 52 $ 100 $ 19.1%21.9% 95: EDC4B RESERVE FUND FY10-11 FY10-11 FY10-11 FY10-11 FY11-12 FY11-12 FY11-12 FY11-12 FY10-11 FY11-12 ACCOUNT ACCOUNT NAME BUDGET AMENDED YTD MAR ACTUAL PROPOSED AMENDED YTD MAR ESTIMATE YTD %YTD % 5715-00-00 TRANSFER OUT-EDC FUND - - - - - - - - 0.0%0.0%TRANSFERS -$ -$ -$ -$ -$ -$ -$ -$ 0.0%0.0% TOTAL EXPENDITURES -$ -$ -$ -$ -$ -$ -$ -$ 0.0%0.0% Staff Report to the Board of Directors Date: June 26, 2012 Agenda Item No: REGULAR ITEMS - B. I. Subject: Consider first amendment to the Economic Development Corporation's agreement for development of the Kennedale TownCenter. II. Originated by: III. Summary: Due to the slow leasing of the TownCenter, David Johnson has requested the EDC to amend the development agreement to delay the future building requirement by one year. He needs to lease the two additional spaces so he can obtain financing on the second building. The requested delay is for the second building to be built in 2013. This seems to be a reasonable request, especially in light of the general economy; therefore I would recommend such a modification. IV. Recommendation: Approve V. Alternative Actions: VI. Attachments: 1.Amendment towncenter amendment 1 1.pdf 2.Amendmeng page 2 towncenter amendment 1 2.pdf Staff Report to the Board of Directors Date: June 26, 2012 Agenda Item No: STAFF ANNOUNCEMENTS/REPORTS - A. I. Subject: Updates from the Executive Director, Orasi Development, and the Kennedale Chamber of Commerce. 1. Chamber of Commerce update 2. TownCenter status 3. Property listing 4. New Hope Road TIRZ District with Tarrant County II. Originated by: III. Summary: Bob Hart, Jack Thompson, and a member from the Chamber of Commerce will discuss various topics related to economic development and ongoing initiatives and projects. IV. Recommendation: None V. Alternative Actions: VI. Attachments: Staff Report to the Board of Directors Date: June 26, 2012 Agenda Item No: EXECUTIVE SESSION - A. I. Subject: The Economic Development Corporation will meet in closed session pursuant to Section 551.072 of the Texas Government Code to deliberate the purchase, exchange, lease, or value of real property. 1. Discuss property at 1000 E Kennedale Parkway. II. Originated by: III. Summary: Bob Hart will present information on this topic during executive session. IV. Recommendation: None V. Alternative Actions: VI. Attachments: Staff Report to the Board of Directors Date: June 26, 2012 Agenda Item No: EXECUTIVE SESSION - B. I. Subject: The Economic Development Corporation will meet in closed session pursuant to Section 551.087 of the Texas Government Code to deliberate the offer of a financial or other incentive to a business project with which the city is conducting economic development negotiations. 1. Incentives for development of property at 1201 West Kennedale Parkway. 2. Incentives for development of property at 445 West Kennedale Parkway. II. Originated by: III. Summary: Bob Hart will present information related to this topic during executive session. IV. Recommendation: None V. Alternative Actions: VI. Attachments: