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2012_01.17 EDC Agenda PacketECONOMIC DEVELOPMENT CORPORATION AGENDA BOARD OF DIRECTORS - REGULAR MEETING January 17, 2012 CITY HALL COUNCIL CHAMBERS, 405 MUNICIPAL DRIVE REGULAR SESSION - 7:15 PM I. CALL TO ORDER II. ROLL CALL III. MINUTES APPROVAL A. Discuss and consider approval of meeting minutes from the November 15th, 2011 regular meeting. IV. REGULAR ITEMS A. Review KEDC Financial Report. V. STAFF ANNOUNCEMENTS/REPORTS A. Updates from the Executive Director, Orasi Development, and the Kennedale Chamber of Commerce. 1. Triple Open House on Saturday, January 28th, 2012. 2. Bloxom Park Update 3. Green Ribbon Grant Program 4. Pennington Restaurant 5. Tarrant county staff meeting relative to economic development VI. 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, sale, exchange, lease, or value of real property. 1. Acquisition of various properties from Williams Estate totaling approximately 5 acres. 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. Potential Texas Leverage Fund use by selected businesses VII. RECONVENE INTO OPEN SESSION, AND TAKE ACTION NECESSARY PURSUANT TO EXECUTIVE SESSION, IF NEEDED VIII. 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 January 17, 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: January 17, 2012 Agenda Item No: MINUTES APPROVAL - A. I. Subject: Discuss and consider approval of meeting minutes from the November 15th, 2011 regular meeting. II. Originated by: Amethyst G. Cirmo, City Secretary and Communications Coordinator III. Summary: Please see the attached minutes from November 2011. IV. Recommendation: Approve V. Alternative Actions: VI. Attachments: 1.Minutes 11.15.2011_MINUTES_KEDC.doc KENNEDALE ECONOMIC DEVELOPMENT CORPORATION AGENDA BOARD OF DIRECTORS - REGULAR MEETING NOVEMBER 15, 2011 CITY HALL COUNCIL CHAMBERS, 405 MUNICIPAL DRIVE REGULAR SESSION - 7:30 PM I.CALL TO ORDER President Mundy called the meeting to order at 7:32pm. II.ROLL CALL BOARD MEMBERS PRESENT ABSENT ROBERT MUNDY - PRESIDENT, P4 x BEVERLY HAYES – P3 x DARRELL ERWIN – P1 x PAT TURNER – P2 X DONNIE GRAHAM – Vice-President, P5 X MARK YEARY – P6 X REBECCA MOWELL – P 7 x CITY STAFF PRESENT ABSENT BOB HART, EXECUTIVE DIRECTOR x SAKURA MOTEN-DEDRICK, CITY FINANCE DIRECTOR x AMETHYST CIRMO, BOARD SECRETARY x III.REGULAR ITEMS A.Discuss and consider approval of the meeting minutes from special session held on November 1, 2011 A motion to approve the minutes as presented was made by Darrell Erwin, second by Mark Yeary. 5-0-1 with Donnie Graham abstaining due to his absence from the previous meeting. B.Review KEDC Financial Report Sakura Moten-Dedrick presented the financial report, noting that the Texas Leverage Fund had been received, and that draws from this account would begin in approximately six months. There were no other significant changes. A motion to approve the financial report as presented was made by Rebeca Mowell, second by Darrell Erwin. Motion passed unanimously. C.Discuss parameters for redevelopment of Kennedale Parkway. Bob Hart presented information regarding current project research, noting that for certain projects funding was available. A tax abatement program combining county and hospital district tax abatements may be possible. President Mundy suggested the idea of combining projects with other jurisdictions to create a project of a larger scope that might be more apt to qualify for certain programs. D.Discuss and consider co-sponsorship of the 12 at 12 program. Bob Hart presented information on this program, which is sponsored by IESI. This program is geared to bring businesses together for 1.5 hours once a month or quarterly at noon to discuss general questions and issues. The program is paid for by IESI and there will be a set agenda for each meeting. A motion to approve co-sponsorship for the 12 at 12 program was made by Rebecca Mowell, second by Pat Turner. Motion passed unanimously. IV.STAFF ANNOUNCEMENTS/REPORTS A.Updates and information from the Executive Director, Orasi Development, and the Kennedale Chamber of Commerce 1.TownCenter Bob Hart noted that construction on the newest retail building was almost complete, and that businesses would be moving into the building in the next few months. 2.Section House Bob Hart noted that the Section House would be completed in early 2012. 3.International Council of Shopping Centers (ICSC) – San Antonio Conference Jack Thompson from Orasi Development approached the board, noting that conference time was spent on areas in Oak Crest and the TownCenter Retail Addition. Time was spent with a variety of restaurants and other businesses, several of whom showed interest in Kennedale. 4.Other updates and information, if needed Bob Hart noted that QT will be coming back to Planning and Zoning as they want to increase their footprint by approximately 20%. The Board entered executive session at 8:30pm. V.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, sale, exchange, lease, or value of real property. 1.Acquisition of approximately 5 acres on Bloxom Road. 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.Grover Corporation with Texas Leverage Fund 2.Harris Manufacturing 3.The Fowler Group VI.RECONVENE INTO OPEN SESSION AND TAKE ACTION PURSUANT TO EXECUTIVE SESSION, IF NECESSARY. President Mundy reconvened the meeting into open session at 8:59. A motion to allow the city manager to sign a contract with the acquisition approximately 5 acres on Bloxom Road was made by Mark Yeary, second by Rebecca Mowell. Motion passed unanimously. VII.ADJOURNMENT The board decided not to hold the December 2011 regular meeting. The next regular meeting will be held on January 17 th , 2012. A motion to adjourn was made by Mark Yeary, second by Donnie Graham. The motion passed unanimously. The meeting was adjourned at 9:05pm. APPROVED: ____________________________ Robert Mundy, President ATTEST: _______________________________ Amethyst G. Cirmo, City Secretary Staff Report to the Board of Directors Date: January 17, 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: Discuss and review Oct 2011 financial report, excluding normal front page summary report. Staff will provide details at the meeting. IV. Recommendation: Approve V. Alternative Actions: VI. Attachments: 1.Oct 2011 Financials 20120113 EDC Oct 11 Financials.pdf 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 CY - PY INCOME STATEMENT BUDGET AMENDED YTD OCT ESTIMATE PROPOSED AMENDED YTD OCT ESTIMATE CHANGE OPERATING REVENUES 587,149 587,149 17,848 2,334,966 1,295,404 1,295,404 21,664 1,314,276 708,255 OPERATING EXPENDITURES (608,509) (608,509) (72,847) (1,180,427) (2,837,324) (2,837,324) (107,725) (2,763,179) (541,339) OPERATING INCOME/(LOSS)(21,360) (21,360) (54,999) 1,154,539 (1,541,920) (1,541,920) (86,061) (1,448,903) 166,916 NONOPERATING REVENUES/(EXPENSES)INTEREST EARNINGS 4,200 4,200 59 130 250 250 - 250 (3,950) TRANSFERS IN - - - - - - - - - (TRANSFER OUT)(154,619) (154,619) (154,619) (154,619) (153,119) (153,119) (39,059) (153,119) (1,500) NET OPERATING INCOME/(LOSS)(171,779) (171,779) (209,559) 1,000,050 (1,694,788) (1,694,788) (125,120) (1,601,771) 161,465 BEGINNING FUND BALANCE 583,151 $ 583,151 $ 583,151 $ 583,151 $ 1,583,201 $ 1,583,201 $ 1,583,201 $ 1,583,201 $ 411,372 $ ENDING FUND BALANCE (EXCLUDING OTHER FUNDS)411,372 $ 411,372 $ 373,592 $ 1,583,201 $ (111,587)$ (111,587)$ 1,458,081 $ (18,570)$ -$ 95: EDC4B RESERVE FUND 120,137 $ 120,137 $ 119,655 $ 119,766 $ 120,006 $ 120,006 $ 119,767 $ 120,006 $ (260)$ 19: EDC4B CAPITAL BOND FUND 1,017,184 $ 1,017,184 $ 1,276,656 $ 464,133 $ 119,383 $ 119,383 $ 459,283 $ 39,383 $ (82,583)$ ENDING FUND BALANCE (INCLUDING OTHER FUNDS)1,548,693 $ 1,548,693 $ 1,769,903 $ 2,167,100 $ 127,802 $ 127,802 $ 2,037,131 $ 140,819 $ (82,843)$ 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 CY - PY FY10-11 FY11-12 CATEGORY BUDGET AMENDED YTD OCT ESTIMATE PROPOSED AMENDED YTD OCT ESTIMATE CHANGE YTD %YTD % BEGINNING FUND BALANCE 583,151 $ 583,151 $ 583,151 $ 583,151 $ 1,583,201 $ 1,583,201 $ 1,583,201 $ 1,583,201 $ 411,372 $ AD VALOREM TAXES 23,467 23,467 - 52,138 42,466 42,466 3,343 42,466 18,999 0.0%7.9% SALES/BEVERAGE TAXES 324,438 324,438 98 366,165 352,666 352,666 - 371,538 28,228 0.0%0.0% INVESTMENT EARNINGS 4,200 4,200 59 130 250 250 - 250 (3,950) 1.4%0.0%MISCELLANEOUS INCOME - - - 7,577 676,000 676,000 - 676,000 676,000 0.0%0.0%SURPLUS SALES/RENTALS 239,244 239,244 17,750 209,087 224,272 224,272 18,321 224,272 (14,972) 7.4%8.2%TRANSFERS -$ -$ -$ 1,700,000 $ -$ -$ -$ -$ -$ 0.0%0.0%TOTAL REVENUES 591,349 $ 591,349 $ 17,907 $ 2,335,096 $ 1,295,654 $ 1,295,654 $ 21,664 $ 1,314,526 $ 704,305 $ 3.0%1.7% PERSONNEL - - - - - - - - - 0.0%0.0% SUPPLIES 31,610 31,610 - 22,314 21,344 21,344 40,915 60,553 (10,266) 0.0%191.7% MAINTENANCE 17,790 17,790 845 21,749 22,856 22,856 4,414 22,856 5,066 4.7%19.3% SUNDRY 249,810 249,810 11,658 243,564 265,906 265,906 16,377 265,906 16,096 4.7%6.2%DEBT 111,798 111,798 52,302 125,701 313,243 313,243 37,027 1,389,889 184,445 46.8%11.8%TRANSFERS 154,619 154,619 154,619 154,619 153,119 153,119 39,059 153,119 (1,500) 100.0%25.5%CAPITAL 197,501 197,501 8,041 767,099 2,213,975 2,213,975 8,992 1,023,975 347,499 4.1%0.4%TOTAL EXPENDITURES 763,128 $ 763,128 $ 227,466 $ 1,335,046 $ 2,990,442 $ 2,990,442 $ 146,784 $ 2,916,297 $ 541,339 $ 29.8%4.9% REVENUES OVER EXPENDITURES (171,779)$ (171,779)$ (209,559)$ 1,000,050 $ (1,694,788)$ (1,694,788)$ (125,120)$ (1,601,771)$ ENDING FUND BALANCE 411,372 $ 411,372 $ 373,592 $ 1,583,201 $ (111,587)$ (111,587)$ 1,458,081 $ (18,570)$ ADJUSTMENTS FUND BALANCE AS % OF EXP 53.9%53.9%164.2%118.6%-3.7%-3.7%993.4%-0.6% RESERVE (NO REQUIREMENT)-$ -$ -$ -$ -$ -$ -$ -$ RESERVE SURPLUS/(SHORTFALL)411,372 $ 411,372 $ 373,592 $ 1,583,201 $ (111,587)$ (111,587)$ 1,458,081 $ (18,570)$ -$ 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 CY - PY FY10-11 FY11-12 ACCOUNT ACCOUNT NAME BUDGET AMENDED YTD OCT ESTIMATE PROPOSED AMENDED YTD OCT ESTIMATE CHANGE YTD %YTD % 4001-00-00 PROPERTY TAX-CURRENT YEAR - - - - - - - - - 0.0%0.0% 4002-00-00 MMD TAX-CURRENT YEAR 23,467 23,467 - 52,138 42,466 42,466 3,343 42,466 18,999 0.0%7.9%AD VALOREM TAXES 23,467 $ 23,467 $ -$ 52,138 $ 42,466 $ 42,466 $ 3,343 $ 42,466 $ 18,999 $ 0.0%7.9% 4081-00-00 SALES TAX 324,438 324,438 98 366,165 352,666 352,666 - 371,538 28,228 0.0%0.0% 4082-00-00 MIXED BEVERAGE TAX - - - - - - - - - 0.0%0.0%SALES/BEVERAGE TAXES 324,438 $ 324,438 $ 98 $ 366,165 $ 352,666 $ 352,666 $ -$ 371,538 $ 28,228 $ 0.0%0.0% 4401-00-00 INVESTMENT INCOME 4,200 4,200 59 130 250 250 - 250 (3,950) 1.4%0.0%INVESTMENT EARNINGS 4,200 $ 4,200 $ 59 $ 130 $ 250 $ 250 $ -$ 250 $ (3,950)$ 1.4%0.0% 4409-00-00 MISCELLANEOUS INCOME - - - 7,577 676,000 676,000 - 676,000 676,000 0.0%0.0%4411-00-00 TEXAS LEVERAGE FUND PROGRAM - - - - - - - - - 0.0%0.0%4415-00-00 INSURANCE REIMBURSEMENT - - - - - - - - - 0.0%0.0%MISCELLANEOUS INCOME -$ -$ -$ 7,577 $ 676,000 $ 676,000 $ -$ 676,000 $ 676,000 $ 0.0%0.0% 4805-00-00 RENTAL FEES-SHOPPING CENTER 235,244 235,244 17,608 208,534 220,272 220,272 18,283 220,272 (14,972) 7.5%8.3%4806-00-00 RENTAL INSURANCE 4,000 4,000 142 553 4,000 4,000 38 4,000 - 3.6%1.0%SURPLUS SALES/RENTALS 239,244 $ 239,244 $ 17,750 $ 209,087 $ 224,272 $ 224,272 $ 18,321 $ 224,272 $ (14,972)$ 7.4%8.2% 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 $ 17,907 $ 2,335,096 $ 1,295,654 $ 1,295,654 $ 21,664 $ 1,314,526 $ 704,305 $ 3.0%1.7% TOTAL REVENUES (EXCLUDING INTEREST/TRANSFERS)587,149 $ 587,149 $ 17,848 $ 634,966 $ 1,295,404 $ 1,295,404 $ 21,664 $ 1,314,276 $ 708,255 $ 10% ADMIN CHARGE-GENERAL FUND 58,715 58,715 42,250 63,497 129,540 129,540 2,166 131,428 70,825 CITY OF KENNEDALE, TEXAS ANNUAL PROGRAM OF SERVICES REVENUE LINE ITEM DETAIL "EXEMPLIFYING EXCELLENCE" 15: EDC4B FUND FY11-12 PROPOSED 4002-00-00 MMD TAX-CURRENT YEAR BASED ON ASSESSED VALUE OF $826,108 AND TOTAL TAXRATE OF 2.840677 PER $100. CITY OF KENNEDALE: $0.722500 KENNEDALE ISD: $1.488610 TARRANT COUNTY: $0.264000 TARRANT HOSPITAL: $0.227897 TARRANT COLLEGE: $0.137670 42,466 42,466 4081-00-00 SALES TAX GENERALLY BUDGET BASED ON PRIOR 3 YEARS OF HISTORY 352,666 352,666 4401-00-00 INVESTMENT INCOME EARNING BASED UPON AVERAGE BALANCE/INTEREST RATES 250 250 4409-00-00 MISCELLANEOUS INCOME SALE OF 1121 WEST KENNEDALE PARKWAY (PURCHASED FY09/10)376,000 676,000 SALE OF 1170 EAST KENNEDALE PARKWAY (PURCHASED FY10/11)300,000 REBATE FORPRIOR YEARINSTALLATION OF TOWNCENTER LIGHTING FROM ONCOR ENERGY - 4411-00-00 TX LEVERAGE PROG REIMBURSEMENTS PRINCIPAL &INTERESTPAYMENTSRECEIVED FROM GROVER TO REIMBURSE THE STATE EDC FOR $1.7M LOAN - - 4805-00-00 RENTAL FEES-SHOPPING CENTER SUBWAY ($1400 MONTH,RELOCATION FEB 2012,LEASE EXPIRES 09/01/13, GOES TO $1750 UPON EXPIRATION) 5,600 220,272 ACE ($1400 MONTH,RELOCATION FEB 2012,LEASE EXPIRES 03/01/2012, GOES TO $1634 UPON MOVE)5,600 CHICKENEXPRESS ($2518 MONTH,RELOCATION FEB 2013,LEASE EXPIRES 05/31/17, GOES TO $2618 UPON MOVE) 30,216 DOLLAR GENERAL ($3750 MONTH,LEASE EXPIRES 07/31/12,NEW AMOUNT TO BE NEGOTIATED WITH 2%MANAGEMENTFEE COMMISSION) 45,000 SURPLUSWAREHOUSE ($8400 MONTH,LEASE EXPRIES 05/31/16,NEW AMOUNT TO BE NEGOTIATED WITH 2% MANAGEMENT FEE)100,800 PREPAID TENANTFEESRECEIVED BUT CORRESPONDING OFFSET OCCURS WHEN BOOKED AGAINSTCAM EXPENSES (EXCLUDES RENTAL INSURANCE CAM) 33,056 4806-00-00 RENTAL INSURANCE RENTAL CAM COLLECTED ON LEASE AGREEMENTS AND THEN USED TO PAY TML INSURANCE (OFFSETTING EXPENSEUNDER TOWN SHOPPING CENTER) 4,000 4,000 TOTAL REVENUES 1,295,654 $ $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 BUDGET 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 31,540 37,196 38,349 24,368 39,515 24,331 28,700 38,020 24,647 26,558 36,310 23,874 24,547 26,962 34,835 $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 FY2010 -11 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 28,700 135,785 - 0.0%16.1%28,700 FEB 32,631 35,744 33,862 35,625 29,751 29,839 33,556 24,379 38,020 38,020 38,020 173,805 - 0.0%12.2%38,020 MAR 23,889 22,465 21,345 24,975 16,997 21,830 17,063 18,010 25,672 24,647 24,647 198,452 - -4.0%9.9%24,647 APR 20,435 23,465 21,936 24,036 25,672 24,231 22,636 18,030 27,583 26,558 26,558 225,010 - -3.7%8.1%26,558 MAY 35,360 36,121 36,355 35,851 32,194 31,278 30,806 55,683 37,335 36,310 36,310 261,320 - -2.7%6.4%36,310 JUN 22,968 33,889 24,011 27,616 26,993 24,985 21,608 29,762 24,899 23,874 23,874 285,194 - -4.1%5.5%23,874 JUL 25,600 25,928 25,987 24,299 27,477 30,517 17,906 141,681 25,572 24,547 24,547 309,741 - -4.0%4.6%24,547 AUG 32,378 30,767 34,222 35,983 28,340 38,499 33,664 34,381 28,137 26,962 26,962 336,703 - -4.2%3.9%26,962 SEP 26,060 25,710 22,677 27,368 30,430 23,534 24,245 27,457 36,010 34,835 34,835 371,538 - -3.3%3.2%34,835 325,445 343,051 322,876 347,346 335,121 323,256 306,744 432,550 360,141 352,666 371,538 18,872 371,538 -2.62%5.41%-5.88%7.58%-3.52%-3.54%-5.11%41.01%-16.74%-2.08%3.16%3.16% ACCOUNT OCT NOV DEC JAN FEB MAR APR MAY JUN JUL AUG SEP TOTAL INCOME Rental Income 17,468.00 $ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ 17,468.00 $ Tax Escrows 3,224.02 $ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ 3,224.02 $ Insurance Escrows 38.37 $ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ 38.37 $ CAM Escrows 814.70 $ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ 814.70 $ Security Deposit -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ TOTAL INCOME 21,545.09 $ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ 21,545.09 $ EXPENSES General & Admin -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ Property Mgmt 500.00 $ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ 500.00 $ Office Expenses -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ Legal Services -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ Rental Commissions -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ Electricity 329.26 $ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ 329.26 $ Sweeping 326.00 $ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ 326.00 $ Porter service -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ Landscape 638.28 $ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ 638.28 $ Fire Sprinkler/Alarm 150.00 $ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ 150.00 $ Asphalt -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ Landscape Materials -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ Construction Materials 3,299.60 $ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ 3,299.60 $ Roofing Repair -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ Signage -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ TOTAL EXPENSES 5,243.14 $ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ 5,243.14 $ ADJUSTMENTS Operating Balance -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ TOTAL ADJUSTMENTS -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ NET PROFIT/(LOSS) - CHECK 16,301.95 $ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ 16,301.95 $ Total Rental Income Posted 18,282.70 $ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ 18,282.70 $ 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 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 CY - PY FY10-11 FY11-12 ACCOUNT ACCOUNT NAME BUDGET AMENDED YTD OCT ESTIMATE PROPOSED AMENDED YTD OCT ESTIMATE CHANGE 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 - 4,466 16,544 16,544 - 16,544 (5,456) 0.0%0.0%5260-01-00 GENERAL OFFICE SUPPLIES 250 250 - 12 250 250 - 250 - 0.0%0.0% 5261-01-00 POSTAGE 500 500 - 59 250 250 - 250 (250) 0.0%0.0%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 40,915 43,209 - 0.0%1022.9% SUPPLIES 27,050 $ 27,050 $ -$ 22,314 $ 21,344 $ 21,344 $ 40,915 $ 60,553 $ (5,706)$ 0.0%191.7% 5403-01-00 BUILDING MAINTENANCE - - - - - - - - - 0.0%0.0% 5440-01-00 OFFICE EQUIP/SOFTWARE MAINT - - - - - - - - - 0.0%0.0% MAINTENANCE -$ -$ -$ -$ -$ -$ -$ -$ -$ 0.0%0.0% 5501-01-00 ADVERTISING 5,000 5,000 - 1,436 5,000 5,000 - 5,000 - 0.0%0.0%5510-01-00 ASSOC DUES/PUBLICATIONS 3,375 3,375 - 2,460 2,350 2,350 - 2,350 (1,025) 0.0%0.0%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 - 7,581 10,000 10,000 - 10,000 (15,000) 0.0%0.0%5567-01-00 AUDIT SERVICES 1,500 1,500 - 1,500 1,500 1,500 - 1,500 - 0.0%0.0% 5569-01-00 IT SUPPORT - - - - - - - - - 0.0%0.0% 5570-01-00 SPECIAL SERVICES 95,420 95,420 3,500 126,611 86,036 86,036 7,500 86,036 (9,384) 3.7%8.7%5575-01-00 EQUIPMENT RENTAL - - - - - - - - - 0.0%0.0% 5578-01-00 TRAVEL 700 700 - 22 700 700 - 700 - 0.0%0.0% 5580-01-00 ENGINEERING SERVICES - - - - - - - - - 0.0%0.0%5585-01-00 TELEPHONE SERVICES - - - - - - - - - 0.0%0.0% 5595-01-00 ADMIN CHARGE-GENERAL FUND 58,715 58,715 4,222 69,885 129,540 129,540 2,166 129,540 70,825 7.2%1.7% SUNDRY 190,710 $ 190,710 $ 7,722 $ 209,494 $ 236,126 $ 236,126 $ 9,666 $ 236,126 $ 45,416 $ 4.0%4.1% 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 - 293,392 325,000 325,000 - 325,000 315,000 0.0%0.0%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 - - - 0.0%0.0%5875-01-00 CONSTRUCTION - - - 18,644 - - - 33,975 - 0.0%0.0%CAPITAL 70,000 $ 70,000 $ -$ 312,036 $ 385,000 $ 385,000 $ -$ 358,975 $ 315,000 $ 0.0%0.0% TOTAL EXPENDITURES 287,760 $ 287,760 $ 7,722 $ 543,844 $ 642,470 $ 642,470 $ 50,581 $ 655,654 $ 354,710 $ 2.7%7.9% CITY OF KENNEDALE, TEXAS ANNUAL PROGRAM OF SERVICES EXPENDITURE LINE ITEM DETAIL "EXEMPLIFYING EXCELLENCE" 15: EDC4B FUND 01: ADMINISTRATION FY11-12 PROPOSED 5101-01-00 SALARIES EDC DIRECTOR POSITION OMITTED.- - 5107-01-00 OVERTIME EDC DIRECTOR POSITION OMITTED.- - 5115-01-00 RETIREMENT EDC DIRECTOR POSITION OMITTED.- - 5117-01-00 FICA EDC DIRECTOR POSITION OMITTED.- - 5118-01-00 MEDICAL INSURANCE EDC DIRECTOR POSITION OMITTED.- - 5120-01-00 LIFE INSURANCE EDC DIRECTOR POSITION OMITTED.- - 5121-01-00 DENTAL INSURANCE EDC DIRECTOR POSITION OMITTED.- - 5122-01-00 VISION INSURANCE EDC DIRECTOR POSITION OMITTED.- - 5220-01-00 UNIFORMS NEW SHIRTS FOR CONVENTIONS/MEETINGS 300 300 5240-01-00 PRINTED SUPPLIES PRINTED MAPS OF ENTIRE CITY 2,000 16,544 EDC COPIES/BROCHURES 3,000 CITY MARKETING FLYERS/AERIAL PHOTOS 5,000 CITY PUBLICATION (SPLIT 66% EDC/34% CITY)6,544 5260-01-00 GENERAL OFFICE SUPPLIES FILES/FOLDERS/PAPER/PENCILS (REDUCED DUE TO CONTRACTING OUT EDC DIRECTOR POSITION) 250 250 5261-01-00 POSTAGE FOR MAIL OUTS/MARKETING PACKAGES (REDUCED DUE TO CONTRACTING OUT EDC DIRECTOR POSITION)250 250 5280-01-00 MINOR EQUIP/SMALL TOOLS<$5K ADDITIONAL EQUIPMENT ASSOCIATED WITH PRESENTATIONS/MARKETING (REDUCED DUE TO CONTRACTING OUT EDC DIRECTOR POSITION) - - 5290-01-00 EXPENDABLE SUPPLIES TOWN CENTER GRAND OPENING 1,000 4,000 9/11 MEMORIAL 3,000 5440-01-00 OFFICE EQUIP/SOFTWARE MAINT REDUCED DUE TO CONTRACTING OUT EDC DIRECTOR POSITION - - 5501-01-00 ADVERTISING PROMOTIONAL ADVERTISING 5,000 5,000 5510-01-00 ASSOC DUES/PUBLICATIONS TEXAS ECONOMIC DEVELOPMENT COMMISSION 200 2,350 CITY ($450) & EDC ($900) KENNEDALE CHAMBER MEMBERSHIP 1,350 DALLAS CHAMBER 800 5512-01-00 CONTRACTUAL SERVICES NO LONGER USE THIS LINE. MERGED INTO SPECIAL SERVICES (5570).- - 5525-01-00 TRAINING/SEMINARS EDC TRAINING THROUGH VARIOUS ASSOCIATIONS BY BOARD 1,000 1,000 5565-01-00 LEGAL SERVICES BILLABLE HOURS FOR CITYATTORNEY ON EDC RELATED PROJECTS (I.E., REINVESTMENT ZONE) 10,000 10,000 5567-01-00 AUDIT SERVICES PATILLO, BROWN & HILL SERVICES FOR INDEPENDENT ANNUAL AUDIT 1,500 1,500 5570-01-00 SPECIAL SERVICES TOWN CENTER CONSULTING FIRM (APPROXIMATELY $3500 PER MONTH)45,000 86,036 BRANDING &IMAGING (PLANNING PHASE ONLY,IMPLEMENTATION PHASE BUDGETED UNDER CITY MANAGER BUDGET) 12,000 CONTRACT WITH MUNISERVICES FOR SALESTAXAUDIT SERVICES,35% CONTINGENCY IF REALLOCATIONSARE UNCOVERED DUE TO REPORTINGERRORS (APPLIES TO FIRST 8 CONSECUTIVEREPORTING QUARTERS FOLLOWING CORRECTION,$5K AVERAGE FOR REMAINING 3 QTRS IN FY11/12, SHARED 75% CITY/%25 EDC) 3,750 SUBSIDIZED RENT TO CYPRESS FOR SUBWAY &ACE WHEN THEY ARE RELOCATED 25,000 DATAPROSE SERVICE FOR STUFFING OF NEWSLETTER($70 MONTH), SPLIT 66% EDC/34% CITY 286 5575-01-00 EQUIPMENT RENTAL - - 5578-01-00 TRAVEL TRAVEL RELATED TO OTHER EDC TRAINING/SEMINARS BY STAFF/BOARD 700 700 5585-01-00 TELEPHONE SERVICES NO LONGER UTILIZE SERVICE(REDUCED DUE TO CONTRACTING OUT EDC DIRECTOR POSITION) - - 5595-01-00 ADMIN CHARGE-GENERAL FUND CHARGE FOR SERVICESPROVIDED BY GENERAL FUND RESOURCES (10% TOTAL REVENUES EXCLUDING INTEREST/TRANSFERS) 129,540 129,540 5610-01-00 VISUAL GRANT GRANT ASSISTANCE PROVIDED TO LOCAL BUSINESSES - - 5701-01-00 TRANSFER OUT-GENERAL FUND - - 5800-01-00 LAND LAND/RIGHT-OF-WAY PURCHASE FOR THE BENEFIT OF EDC (LEROY MOORE) 75,000 325,000 REIMBURSEMENT FOR SALE OF 1170 EAST KENNEDALE PARKWAY GIVEN DIFFERENCE BETWEEN SALE AND PURCHASE PRICE 250,000 5813-01-00 KENNEDALE ENTRANCE SIGN NEW ENTRANCEWAY SIGNS 45,000 45,000 5820-01-00 BUILDING IMPROVEMENT QUIK TRIP GAS STATION FAÇADE STONE WORK 15,000 15,000 CITY OF KENNEDALE, TEXAS ANNUAL PROGRAM OF SERVICES EXPENDITURE LINE ITEM DETAIL "EXEMPLIFYING EXCELLENCE" 15: EDC4B FUND 01: ADMINISTRATION FY11-12 PROPOSED 5875-01-00 CONSTRUCTION - - TOTAL EXPENDITURES 642,470 $ 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 CY - PY FY10-11 FY11-12 ACCOUNT ACCOUNT NAME BUDGET AMENDED YTD OCT ESTIMATE PROPOSED AMENDED YTD OCT ESTIMATE CHANGE 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 37,027 74,365 (2,433) 49.8%49.8%5644-01-03 2007 $1.2M TAX BOND-PRINCIPAL 35,000 35,000 - 35,000 40,000 40,000 - 40,000 5,000 0.0%0.0% 5645-01-03 2011 $1.7M TX LEVERAGE-INT - - - - 50,479 50,479 - 25,409 50,479 0.0%0.0% 5646-01-03 2011 $1.7M TX LEVERAGE-PRI - - - - 131,399 131,399 - 33,115 131,399 0.0%0.0% DEBT 111,798 $ 111,798 $ 38,277$ 111,676$ 296,243 $ 296,243 $ 37,027$ 172,889$ 184,445$ 34.2%12.5% 5702-01-03 TRANSFER OUT-DEBT SERVICE FUND 154,619 154,619 154,619 154,619 153,119 153,119 39,059 153,119 (1,500) 100.0%25.5% TRANSFER 154,619 $ 154,619 $ 154,619$ 154,619$ 153,119 $ 153,119 $ 39,059$ 153,119$ (1,500)$ 100.0%25.5% TOTAL EXPENDITURES 266,417 $ 266,417 $ 192,896$ 266,295$ 449,362 $ 449,362 $ 76,086$ 326,008$ 182,945$ 72.4%16.9% CITY OF KENNEDALE, TEXAS ANNUAL PROGRAM OF SERVICES EXPENDITURE LINE ITEM DETAIL "EXEMPLIFYING EXCELLENCE" 15: EDC4B FUND 01: ADMINISTRATION 03: DEBT SERVICE FY11-12 PROPOSED 5620-01-03 ISSUANCE COSTS AGENT FEES TO HANDLE BOND AMORTIZATIONS - - 5621-01-03 PAYING AGENT FEES FEESRELATED TOTHE ACQUISITION OF NEW DEBT(BANK/BOND ATTORNEY/FINANCIAL ADVISOR).BANK IS PAYING AGENT IN PRIVATE PLACEMENT AND GENERALLY DOES NOT CHARGE. - 5643-01-03 2007 $1.2M TAX BOND-INTEREST DUE 11/01 37,183 74,365 DUE 05/01 37,183 5644-01-03 2007 $1.2M TAX BOND-PRINCIPAL DUE 05/01 40,000 40,000 5645-01-03 2011 $1.7M TX LEVERAGE-INT DUE BY 1ST OF EACH MONTH (BEGINS 11/01/2011)50,479 50,479 5646-01-03 2011 $1.7M TX LEVERAGE-PRI DUE BY 1ST OF EACH MONTH (BEGINS 11/01/2011)131,399 131,399 5702-01-03 TRANSFER OUT-DEBT SERVICE FUND DUE 11/01 INTEREST : 2010 $2.0M CO BOND 39,059 153,119 DUE 05/01 INTEREST : 2010 $2.0M CO BOND 39,059 DUE 05/01 PRINCIPAL : 2010 $2.0M CO BOND 75,000 TOTAL EXPENDITURES 449,362 $ 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 CY - PY FY10-11 FY11-12 ACCOUNT ACCOUNT NAME BUDGET AMENDED YTD OCT ESTIMATE PROPOSED AMENDED YTD OCT ESTIMATE CHANGE YTD %YTD % 5280-02-00 MINOR EQUIP/SMALL TOOLS<$5K 4,560 4,560 - - - - - - (4,560) 0.0%0.0% SUPPLIES 4,560 $ 4,560 $ -$ -$ -$ -$ -$ -$ (4,560)$ 0.0%0.0% 5403-02-00 BUILDING MAINTENANCE 17,790 17,790 845 21,749 22,856 22,856 4,414 22,856 5,066 4.7%19.3% MAINTENANCE 17,790 $ 17,790 $ 845$ 21,749$ 22,856 $ 22,856 $ 4,414$ 22,856$ 5,066$ 4.7%19.3% 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 36 3,209 4,200 4,200 329 4,200 (3,600) 34.4%0.5%5545-02-00 INSURANCE-PROPERTY 4,000 4,000 3,401 3,401 4,000 4,000 5,881 4,000 - #DIV/0!85.0%5565-02-00 LEGAL SERVICES - - - - - - - - - 0.0%0.0%5570-02-00 SPECIAL SERVICES 6,000 6,000 500 16,160 11,580 11,580 500 11,580 5,580 105.6%8.3% SUNDRY 17,800 $ 17,800 $ 3,937$ 22,770$ 19,780 $ 19,780 $ 6,710$ 19,780$ 1,980$ 22.1%33.9% TOTAL EXPENDITURES 40,150 $ 40,150 $ 4,782$ 44,519$ 42,636 $ 42,636 $ 11,124$ 42,636$ 2,486$ 11.9%26.1% CITY OF KENNEDALE, TEXAS ANNUAL PROGRAM OF SERVICES EXPENDITURE LINE ITEM DETAIL "EXEMPLIFYING EXCELLENCE" 15: EDC4B FUND 02: TOWN SHOPPING CENTER FY11-12 PROPOSED 5280-02-00 MINOR EQUIP/SMALL TOOLS<$5K - - 5403-02-00 BUILDING MAINTENANCE SWEEPING-CAM ($300 PER MONTH)3,600 22,856 LANDSCAPE-CAM ($638 PER MONTH)7,656 FIRE SPRINKLER-CAM ($150 PER QUARTER)600 R&M-CAM 5,000 LANDSCAPE MATERIALS-CAM 1,000 MAINTENANCE-CAM 5,000 ROOFING REPAIR-CAM - POWER WASHING-CAM - PORTER SERVICE-CAM - 5501-02-00 ADVERTISING - - 5510-02-00 ASSOC DUES/PUBLICATIONS - - 5512-02-00 CONTRACTUAL SERVICES - - 5530-02-00 ELECTRIC SERVICES ELECTRICITY-CAM 4,200 4,200 5545-02-00 INSURANCE-PROPERTY COVERAGE THROUGH TEXAS MUNICIPAL LEAGUE 4,000 4,000 5570-02-00 SPECIAL SERVICES PROPERTY/ASSET MANAGEMENT ($500 PER MONTH)6,000 11,580 2% CONTRACT RENEWAL FEE FOR DOLLAR GENERAL 5,580 TOTAL EXPENDITURES 42,636 $ 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 CY - PY FY10-11 FY11-12 ACCOUNT ACCOUNT NAME BUDGET AMENDED YTD OCT ESTIMATE PROPOSED AMENDED YTD OCT ESTIMATE CHANGE YTD %YTD % 5570-03-00 SPECIAL SERVICES - - - - - - - - - 0.0%0.0% 5579-03-00 ARCHITECT/DESIGN SERVICES 26,000 26,000 - - - - - - (26,000) 0.0%0.0% 5580-03-00 ENGINEERING SERVICES 15,300 15,300 - 11,300 10,000 10,000 - 10,000 (5,300) 0.0%0.0%SUNDRY 41,300 $ 41,300 $ -$ 11,300 $ 10,000 $ 10,000 $ -$ 10,000 $ (31,300)$ 0.0%0.0% 5800-03-00 LAND - - - - - - - - - 0.0%0.0%5847-03-00 CONSTRUCTION 127,501 127,501 8,041 455,063 160,000 160,000 8,992 165,000 32,499 6.3%5.6% CAPITAL 127,501 $ 127,501 $ 8,041 $ 455,063 $ 160,000 $ 160,000 $ 8,992 $ 165,000 $ 32,499 $ #DIV/0!5.6% 168,801 $ 168,801 $ 8,041 $ 466,363 $ 170,000 $ 170,000 $ 8,992 $ 175,000 $ 1,199 $ 63.9%5.3% CITY OF KENNEDALE, TEXAS ANNUAL PROGRAM OF SERVICES EXPENDITURE LINE ITEM DETAIL "EXEMPLIFYING EXCELLENCE" 15: EDC4B FUND 03: TOWN CENTER REDEVELOPMENT FY11-12 PROPOSED 5570-03-00 SPECIAL SERVICES - - 5579-03-00 ARCHITECT/DESIGN SERVICES - - 5580-03-00 ENGINEERING SERVICES REMAINING ACTIVITIES 10,000 10,000 5847-03-00 CONSTRUCTION RELOCATION OF ACE & SUBWAY 80,000 160,000 BUILDING HEALTH INSPECTIONS/ASBESTOS SURVEY 5,000 TEARING DOWN OF BUILDING 25,000 PARKING LOT MODIFICATION 50,000 TOTAL EXPENDITURES 170,000 $ 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 CY - PY FY10-11 FY11-12 ACCOUNT ACCOUNT NAME BUDGET AMENDED YTD OCT ESTIMATE PROPOSED AMENDED YTD OCT ESTIMATE CHANGE YTD %YTD % 5615-04-00 FUNCTIONAL GRANT - - 14,025 14,025 - - - 1,200,000 - #DIV/0!0.0% 5620-04-00 ISSUANCE COSTS - - - - 17,000 17,000 - 17,000 17,000 0.0%0.0% DEBT -$ -$ 14,025 $ 14,025 $ 17,000 $ 17,000 $ -$ 1,217,000 $ 17,000 $ #DIV/0!0.0% 5847-03-00 CONSTRUCTION - - - - 1,668,975 1,668,975 - 500,000 1,668,975 0.0%0.0% CAPITAL -$ -$ -$ -$ 1,668,975 $ 1,668,975 $ -$ 500,000 $ 1,668,975 $ 0.0%0.0% -$ -$ 14,025 $ 14,025 $ 1,685,975 $ 1,685,975 $ -$ 1,717,000 $ 1,685,975 $ #DIV/0!0.0% CITY OF KENNEDALE, TEXAS ANNUAL PROGRAM OF SERVICES EXPENDITURE LINE ITEM DETAIL "EXEMPLIFYING EXCELLENCE" 15: EDC4B FUND 04: TEXAS LEVERAGE FUND PROGRAM FY11-12 PROPOSED 5615-04-00 FUNCTIONAL GRANT INITIAL ASSISTANCEPROVIDED TO GROVER PRIOR TO RECEIPT OF LOAN DISBURSEMENT.WILL BE RECOVERED IN FROM THEM IN LOAN PAYMENTS. - - 5620-04-00 ISSUANCE COSTS AGENT FEES TO HANDLE BOND AMORTIZATIONS 17,000 17,000 5847-04-00 CONSTRUCTION EXPENSES TIEDTO GROVER PROJECT &DISBURSED ACCORDING PHASES OF COMPLETION 1,668,975 1,668,975 TOTAL EXPENDITURES 1,685,975 $ 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 CY - PY FY10-11 FY11-12 CATEGORY BUDGET AMENDED YTD OCT ESTIMATE PROPOSED AMENDED YTD OCT ESTIMATE CHANGE 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 500 500 256 1,310 250 250 - 250 (250) 51.1%0.0%TRANSFERS - - - - - - - - - 0.0%0.0%TOTAL REVENUES 500 $ 500 $ 256 $ 1,310 $ 250 $ 250 $ -$ 250 $ (250)$ 51.1%0.0% MAINTENANCE - - - - - - - - - 0.0%0.0% SUNDRY 28,143 28,143 2,950 100,371 250,000 250,000 2,500 250,000 221,857 10.5%1.0%CAPITAL 234,524 234,524 - 716,157 95,000 95,000 2,350 175,000 (139,524) 0.0%2.5%TOTAL EXPENDITURES 262,667 $ 262,667 $ 2,950 $ 816,529 $ 345,000 $ 345,000 $ 4,850 $ 425,000 $ 82,333 $ 1.1%1.4% REVENUES OVER EXPENDITURES (262,167)$ (262,167)$ (2,694)$ (815,218)$ (344,750)$ (344,750)$ (4,850)$ (424,750)$ (82,583)$ ENDING FUND BALANCE 1,017,184 $ 1,017,184 $ 1,276,656 $ 464,133 $ 119,383 $ 119,383 $ 459,283 $ 39,383 $ (82,583)$ ADJUSTMENTS FUND BALANCE AS % OF EXP 387.3%387.3%43276.5%56.8%34.6%34.6%9469.7%9.3% RESERVE (NO REQUIREMENT)-$ -$ -$ -$ -$ -$ -$ -$ RESERVE SURPLUS/(SHORTFALL)1,017,184 $ 1,017,184 $ 1,276,656 $ 464,133 $ 119,383 $ 119,383 $ 459,283 $ 39,383 $ 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 CY - PY FY10-11 FY11-12 ACCOUNT ACCOUNT NAME BUDGET AMENDED YTD OCT ESTIMATE PROPOSED AMENDED YTD OCT ESTIMATE CHANGE YTD %YTD % 4401-00-00 INVESTMENT INCOME 500 500 256 1,310 250 250 - 250 (250) 51.1%0.0%INVESTMENT EARNINGS 500 $ 500 $ 256 $ 1,310 $ 250 $ 250 $ -$ 250 $ (250)$ 51.1%0.0% 4913-00-00 TRANSFER IN-CAPITAL BOND FUND - - - - - - - - - 0.0%0.0%TRANSFERS -$ -$ -$ -$ -$ -$ -$ -$ -$ 0.0%0.0% TOTAL REVENUES 500 $ 500 $ 256 $ 1,310 $ 250 $ 250 $ -$ 250 $ (250)$ 51.1%0.0% 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 CY - PY FY10-11 FY11-12 ACCOUNT ACCOUNT NAME BUDGET AMENDED YTD OCT ESTIMATE PROPOSED AMENDED YTD OCT ESTIMATE CHANGE 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 2,500 240,000 240,000 0.0%1.0%5579-01-00 ARCHITECT/DESIGN SERVICES - - - 37,217 - - - - - 0.0%0.0% 5580-01-00 ENGINEERING SERVICES 28,143 28,143 2,950 47,755 10,000 10,000 - 10,000 (18,143) 10.5%0.0%SUNDRY 28,143 $ 28,143 $ 2,950 $ 100,371 $ 250,000 $ 250,000 $ 2,500 $ 250,000 $ 221,857 $ 10.5%1.0% 5800-01-00 LAND - - - 7,558 25,000 25,000 - 25,000 25,000 0.0%0.0%5847-01-00 CONSTRUCTION 234,524 234,524 - 708,600 70,000 70,000 2,350 150,000 (164,524) 0.0%3.4%CAPITAL 234,524 $ 234,524 $ -$ 716,157 $ 95,000 $ 95,000 $ 2,350 $ 175,000 $ (139,524)$ 0.0%2.5% TOTAL EXPENDITURES 262,667 $ 262,667 $ 2,950 $ 816,529 $ 345,000 $ 345,000 $ 4,850 $ 425,000 $ 82,333 $ 1.1%1.4% 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 CY - PY FY10-11 FY11-12 CATEGORY BUDGET AMENDED YTD OCT ESTIMATE PROPOSED AMENDED YTD OCT ESTIMATE CHANGE 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 18 129 240 240 1 240 (260) 3.5%0.4%TRANSFERS - - - - - - - - - 0.0%0.0%TOTAL REVENUES 500 $ 500 $ 18 $ 129 $ 240 $ 240 $ 1 $ 240 $ (260)$ 3.5%0.4% TRANSFERS - - - - - - - - - 0.0%0.0%TOTAL EXPENDITURES -$ -$ -$ -$ -$ -$ -$ -$ -$ 0.0%0.0% REVENUES OVER EXPENDITURES 500 $ 500 $ 18 $ 129 $ 240 $ 240 $ 1 $ 240 $ (260)$ ENDING FUND BALANCE 120,137 $ 120,137 $ 119,655 $ 119,766 $ 120,006 $ 120,006 $ 119,767 $ 120,006 $ (260)$ 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 $ 7,049 $ 7,160 $ 7,400 $ 7,400 $ 7,161 $ 7,400 $ 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 CY - PY FY10-11 FY11-12 ACCOUNT ACCOUNT NAME BUDGET AMENDED YTD OCT ESTIMATE PROPOSED AMENDED YTD OCT ESTIMATE CHANGE YTD %YTD % 4401-00-00 INVESTMENT INCOME 500 500 18 129 240 240 1 240 (260) 3.5%0.4%INVESTMENT EARNINGS 500 $ 500 $ 18 $ 129 $ 240 $ 240 $ 1 $ 240 $ (260)$ 3.5%0.4% 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 $ 18 $ 129 $ 240 $ 240 $ 1 $ 240 $ (260)$ 3.5%0.4% 95: EDC4B RESERVE FUND FY10-11 FY10-11 FY10-11 FY10-11 FY11-12 FY11-12 FY11-12 FY11-12 CY - PY FY10-11 FY11-12 ACCOUNT ACCOUNT NAME BUDGET AMENDED YTD OCT ESTIMATE PROPOSED AMENDED YTD OCT ESTIMATE CHANGE 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: January 17, 2012 Agenda Item No: STAFF ANNOUNCEMENTS/REPORTS - A. I. Subject: Updates from the Executive Director, Orasi Development, and the Kennedale Chamber of Commerce. 1. Triple Open House on Saturday, January 28th, 2012. 2. Bloxom Park Update 3. Green Ribbon Grant Program 4. Pennington Restaurant 5. Tarrant county staff meeting relative to economic development II. Originated by: Bob Hart, City Manager III. Summary: Bob Hart, Jack Thompson, and Greg Hudson will all give updates on various issues dealing with economic development. IV. Recommendation: V. Alternative Actions: VI. Attachments: Staff Report to the Board of Directors Date: January 17, 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, sale, exchange, lease, or value of real property. 1. Acquisition of various properties from Williams Estate totaling approximately 5 acres. II. Originated by: Bob Hart, City Manager III. Summary: Bob Hart will present information on this topic during executive session. IV. Recommendation: V. Alternative Actions: VI. Attachments: Staff Report to the Board of Directors Date: January 17, 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. Potential Texas Leverage Fund use by selected businesses II. Originated by: Bob Hart, City Manager III. Summary: Bob Hart will present information on potential usages of the Texas Leverage Fund. IV. Recommendation: V. Alternative Actions: VI. Attachments: