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2011_06.09 CC Packet This form must be submitted to the City Secretary by 6:50pm on the clay of the Council meeting COW, sitor Re k. Regular Meeting Date: �?�' `0 MM/DQ/YYYY KENNEDALE You're Here,Your Home PLEASE FOLLOW THE GUIDELINES BELOW: z 1. Please read and clearly provide ALL Information below in order that the Mayor may recognize you promptly at the appropriate time on the agenda. 2. Please state your FULL NAME and ADDRESS when you begin your remarks in order that the official minutes will record you appearance before the City Council. z 3. Please make sure that your comments are directed toward the Presiding Officer rather than individual Councllmembers or Staff. All speakers must limit their comments to the subject matter as listed on your request and ® must refrain from using any profane language and/or personal attacks toward any individual. G � e"' Vi 4-= PHONE: I 1.21 NAME OF SPEAKER: r r �-C ADDRESS; EMAIL: C 2� �`✓v �`1 C V� CITY RESIDENT? YES Rid NO ❑ IS THE SUBJECT YOU WISH TO DISCUSS ON THE CURRENT AGENDA? YES ❑ AGENDA it NO ®� ® HAS THIS SUBJECT BEEN DISCUSSED WITH ANY COUNCILMEMBER OR ADMINISTRATIVE STAFF? YES ❑ NO ❑ - IF YES, NAME OF COUNCILMEMBER/STAFF AND DATE: SUBJECT: t ..... 'vl/ " A E� SIGNATURE: ���.,. _-� �.. DATE: Gf� 0-� q- a-I le at Life Fellowship Church � � � 611 Little School Road J u n 15th 2011 Kennedale,Tx 7606 11:30am—fpm TIME MANAGEMENT Sarah is a business trainer specializing in Communization, Behavior, and Productivity. SThis includes training on Time Management, Understanding Behavior Styles and Professional Communication. Sarah teaches life long principles based upon her own experiences. i i We all want to think we have less time than the next person, but the reality is -we all 'have the same amount of time available to us every week. So why is it that some people get Aso much work done while others struggle to complete the minimum tasks? The truth is that ;those people have learned to take ownership of their time. E So who really "owns" your time? YOU do! And until to re-take ownership of your time, You will never truly be able to manage your time well. . . at the o , �, Ihar, dv :izot �� .COLTER'S BBQ Bring your business card to be entered into the Busi- ness of the Month drawing (must he a member to win) Um . ...,...�..�,,..,..N.,.........�..,.,_ This form nlcdst be siobrrtitted to the City Secretary by_5;50p m on the day of the Council meeting ll Regular Meeting Date: �1 g ff M/DD/YYYY KENNEDALE >4 You're Here,Your Home PLEASE FOLLOW THE GUIDELINES BELOW: 1. Please read and clearly provide ALL information below in order that the Mayor may recognize you promptly at the appropriate time on the agenda. 2. Please state your FULL NAME and ADDRESS when you begin your remarks in order that the official minutes will record you appearance before the U City Council. z 0 3. Please make sure that your comments are directed toward the Presiding Officer rather than individual Councilmembers or Staff. All speakers must limit their comments to the subject matter as listed on your request and 0 must refrain from using any profane language and/or personal attacks toward any individual. NAME OF SPEAKER: -T)t 1 PHONE: 94 7 - 7 3 O �J al ADDRESS: ' ?�( EMAIL: t� 0X0v--.LS eel- eyY C'✓ , e0- / � CITY RESIDENT? YES ❑ NO I� d . IS THE SUBJECT YOU WISH TO DISCUSS ON THE CURRENT AGENDA? YES ❑ AGENDA # NO O U HAS THIS SUBJECT BEEN DISCUSSED WITH ANY COUNCILMEMBER OR ADMINISTRATIVE STAFF? YES NO ❑ IF YES, NAME OF COUNCILMEMBER/STAFF AND DATE: SUBJECT: A ® II W SIGNATURE: DATE: gym . ' This form must be submitted to the City Secretary by 6.5_Opm on the day of the Council meeting CitizedVisftor Mquest t A i Regular Meeting Date: 0 6/09 Ll o I( MM/DD/YYYY. KENNEDALE �+ You're Here,Your Home PLEASE FOLLOW THE GUIDELINES BELOW: z 1. Please read and clearly provide ALL information below in order that the W Mayor may recognize you promptly at the appropriate time on the agenda. 2. Please state your FULL NAME and ADDRESS when you begin your remarks in order that the official minutes will record you appearance before the U City Council. z O 3. Please make sure that your comments are directed toward the Presiding Officer rather than individual Councilmembers or Staff. All speakers must limit their comments to the subject matter as listed on your request and ® must refrain from using any profane language and/or personal attacks toward any individual. NAME OF SPEAKER: � rLir ak Hamm PHONE: O a ADDRESS; 250 \(av�c�er�i {- G'. �avJE� Tx. 5,099 EMAIL: 11(kaVAM§5 e&faaL_r0Ae .COW, CITY RESIDENT? YES ❑ NO a . U IS THE SUBJECT YOU WISH TO DISCUSS ON THE CURRENT AGENDA? YES ❑ AGENDA# NO ® HAS THIS SUBJECT BEEN DISCUSSED WITH ANY COUNCILMEMBER OR ADMINISTRATIVE STAFF? YES NO ❑ IF YES, NAME OF COUNCILMEMBER/STAFF AND DATE: � aa SUBJECT: 6 C� A O 0 0 SIGNATURE: `-- DATE: This form must be submitted to the City Secretary by 6:50Dm on the day of the Council meeting QVizenL is'tor Re est it Regular Meeting ' f g g Date: let MM/DD/YYYY KENNEDALE You're Here,Your Home PLEASE FOLLOW THE GUIDELINES BELOW: 1. Please read and clearly provide ALL information below in order that the Mayor may recognize you promptly at the appropriate time on the agenda. 2. Please state your FULL NAME and ADDRESS when you begin your remarks in order that the official minutes will record you appearance before the City Council. z 3. Please make sure that your comments are directed toward the Presiding Officer rather than individual Councilmembers or Staff. All speakers must limit their comments to the subject matter as listed on your request and ® must refrain from using any profane language and/or personal attacks toward any individual. �J f NAME OF SPEAKER: PHONE: ( f <� ADDRESS:�7� EMAIL: A Cf CI o ) ,424 CITY RESIDENT? YES L`7 NO ❑ a - V IS THE SUBJECT YOU WISH TO DISCUSS ON THE CURRENT AGENDA? YES ❑ AGENDA # ENO ® HAS THIS SUBJECT BEEN DISCUSSED WITH ANY COUNCILMEMBER OR ADMINISTRATIVE STAFF? YES 19 NO ❑ 5 - IF YES, NAME OF COUNCILMEMBER/STAFF AND DATE: SUBJECT: . A O O W ® SIGNATURE: � ut DATE; - -zZ —_— P.O.Box 15580 817/478-1137 FORT WORTH,TEXAS 76119 METRO 817/572-0351 FAX 817/561-2544 Delivery: A� 1150 E.KENNEDALE PKWY. Info @ speedfab-crete.com ® KENNEDALE,TEXAS 76060 www.speedfab-crete.com Design - Build General Contractor Precast Concrete Manufacturer June 9, 2011 Speed Fab-Crete Timeline of Acquisition Interest • Back taxes unpaid on this property dated back to at least 1996, according to property tax records. • In August 2007---Advised Bob Hart by email of our interest in purchasing the then "old Bell Rubber" property for well over ten (10)years back to the late 1990's. We asked the City to condemn the buildings, as they were dilapidated. Met with Bob Hart and Mike Soab on Tuesday,August 7, 2007 to discuss what the City/EDC could do to help us obtain the property. • In September 2007,Speed Fab-Crete (through a third party) issued a sales purchase contract through Bryan Lankhorst to the owner's agent for$500,000. It was rejected and never counter-offered. • During 2007, a delinquent tax suit was filed by Tina Mulholland with plans to have the property posted for a courthouse steps sale in February of 2008. This did occur, but the required low bid was set at $535,000 due to the back taxes already due. The County attempted sale twice with no bids received. • May 2008—We were advised by Tina Mulholland of Linebarger, Goggan, etc., law firm, that the property was being placed in bankruptcy court. • Bankruptcy court assigns sale of property to Marilyn Garner,Trustee,to dispose of the property. • In May 2008, Bob Hart advised by email that the City was requesting that the Board of Appeals declare the buildings to be substandard so that an order could be issued to tear them down. Hence,the "value" of the property would be returned to the land ony. This was delayed by the Board as the bankruptcy was in process. • We worked with Ms, Garner from June 2008 through June 2009 in an attempt to purchase the property for a final agreed-upon price of$360,000. This was rejected by the various taxing entities, even though the Chapter 7 trustee, Ms. Garner, supported the sale to us. The current back taxes at that time were approximately$535,000. • in October 2008, Bob Hart advised that the School District was going to "buy"the property. This did not happen. • Upon rejection of our purchase contract by the taxing entities, Ms. Garner withdrew as trustee and the bankruptcy court assigned the disposition of the property back to the taxing entities, including the City of Kennedale. • Bob Hart advises he must get approval from all the taxing entities to move ahead with any effort to sell the property. • County approves the City of Kennedale getting an appraisal of the property and Integra issues the appraisal to the City in February 2010. • December 2010—Bob Hart advises by email that the EDC is moving ahead to sell the property and attaches an RFP request. � N N�i y [aq N A W W '. n PF iA .Y a •` 74x . , n ;9 I lo litN %/ G 3 y ol . TO R CO s N ., r r r \ r \ ro / o o � N *� Q9 t n / P \ / r o r/ Introduetion The Kennedale Economic Development Corporation (KEDC) is seeking proposals for the purchase and development of approximately 4.5 acres at 1000 E. Kennedale Parkway. 1000 E. Kennedale Parkway is located on the southern end of the main thoroughfare through the city. KEDC demolished and cleared all structures on the property and the land is environmentally clean. The site does have rail access along the back of the property but no rail spur. The zoning is I - industrial, which along with the accessibility to U.S. 287, loop 820 and 1-20 makes this a great site for manufacturing and/or distribution. A preliminary plat of the 4.5 acre site is attached. About Kennedale Kennedale, with a population of approximately 7,000, is ten miles southeast of downtown t=ort Worth in southeastern Tarrant County. One of the city's strengths is it's location at the intersection of 1-20, Loop 820 and U.S. 287, providing easy access to all parts of the Metroplex including D/FW International Airport. Kennedale's quality of life is excellent, with several parks located throughout the city, and close proximity to sporting venues such as Cowboys Stadium and the hangers Ballpark, as well as museums and zoos. The city has several festivals during the year including the Christmas tree fighting, the annual Art in the Park Festival, and a celebration of Texas' Independence. The Kennedale Independent School District (KISD) provides a variety of educational opportunities and has a superior rating of a recognized district by the Texas Education Agency. The district is comprised of 5 schools, 2 elementary, 1 intermediate, 1 middle school and 1 high school with a total enrollment of 3,150. There are several universities located near Kennedale such as the University of Texas at Arlington, Tarrant County College, Texas Christian University, and Texas Wesleyan University. Kennedale supports a wide variety of housing options. Housing in the city ranges from starter homes to executive housing and everything in between, Kennedale Econoinxe Developinent Corporatioix The KEDC is a Type B economic development corporation that 18 supported by a sales tax that was voter approved. The mission of the KEDC is to act on behalf of the City of Kennedale in promoting and developing authorized projects, while supporting economic development activities to retain, expand, and attract municipal tax generating businesses for the purpose of diversifying the tax base and improving the city's quality of life. Subn-lttal Requireinents Request for Proposal for 1000 E. Konnedale Parkway 1 Candidates shall prepare one (1) original and three (3) copies of their proposal. The submittal should be organized following the Submission Requirements section headings noted below and should include at least the requested information. KEDC reserves the right to request additional information as needed during the RFP process. Responses must be submitted not later than 3.00 PM CST on January 12, 2019, Responses must be submitted to: Mr. Bob Hart, Executive Director Kennedale Economic Development Corporation 405 Municipal Dr. Kennedale, TX 76060 Questions or clarifications concerning the RFP should be addressed to Bob Hart by email at bhart @cityofkennedale.com. KEDC will matte best efforts to respond to all questions received prior to January 6, 2011. The answers to questions deemed relevant to all candidates will provided to everyone. Proposal Requirements I. Cover Letter The proposal must contain a cover letter signed by the Candidate representative who is authorized to represent and negotiate on their behalf. The letter should state the legal name and form of the entity, mailing address (no P.O. sox), phone and fax numbers and e-mail address of the candidate's representative. 2. Executive Summary The proposal must contain an executive summary that briefly describes the proposed development of the 4.5 acres and other key elements of the proposal such as total estimated value of the project, estimated employment, and development timeframe. Please do not include in the summary details regarding financial capacity. 3. Project Description Please provide a narrative description and if necessary, a graphical representations of the propose project including: a) A detailed description of the development of the 4.5 acres envisioned for the site, including the estimated number of buildings on the site and square footage, types of use of the buildings, i.e. distribution, manufacturing, potential employment numbers, estimated tax value. b) A description of the proposed project's design and architectural features. c) A brief narrative describing how the proposed development meets the mission of the KEDC. Request for Proposal far 1000 E. Kennedale Parkway 2 4. Financing Plan The proposal must contain a financing plan that contains the offer amount for the four and one-half (4.5) acres and how the project will be financed. The land is being sold with a mineral reservation and no surface use. 5. Financial Information The candidate must submit the last three (3) years of corporate tax returns, 2010 balance sheet, cash flow statement, and profit/loss statement. Selection Criteria KEDC will select the proposal based on the following criteria: The type of development that will occur on the property. • The economic impact for the city. KEDC will evaluate the proposals not only on the potential tax revenue generated but also the impact the proposed development would have on the surrounding area. • The sales price for the land. • The ability of the person or company to complete their proposed plan for the property in a reasonable amount of time. KEDC reserves the right to not accept any of the proposals. Request for Proposal for MOO E.Kennedale Parkway 3 ICI Ing IA • � °des • . a � „ � � b��� • • \ /fro•. _ �''3� . / '�� t, d 9A6 lit - p d• �� y _ gig pr 5R o .R �' G Fri i• $ Pay &� ! CL v (0 O 4- Q c) pf U? 0- 04 Lo w, LO (a V U � E N a a� U C. Cf N 1 Q $ r3 4 o 12 O iV X- '% q? N (1 W a; C cu 0 cn n � � W ro All. CD uj This form must be submitted to the City Secretary by 6:50pm on the day of the Council meeting r- • • • PLEASE FOLLOW THE GUIDELINES BELOW: ry S9Er1Y.LV ALE You're Here,Your Home 1. Please read and clearly provide ALL information below in order that the Mayor may recognize you promptly at the appropriate time on the agenda. 2. Please state your FULL NAME and ADDRESS when you begin your remarks In order that the official minutes will record you appearance before the City Council, 3. Please make sure that your comments are directed toward the Presiding Officer rather than individual Councllmembers or Staff. All speakers must limit their comments to the subject matter as listed on your request and must refrain from using any profane language and /or personal attacks toward any individual. NAME OF SPEAKER: ` ��d � i:. A ..�i L�'Wf.l� -• PHONE: ADDRESS: �� � ti . �� � "� 31 It- 1c EMAIL: Yd (.� C�,pV CITY RESIDENT? YES E� ❑ IS THE SUBJECT YOU WISH TO DISCUSS ON THE CURRENT AGENDA? YES ❑ AGENDA # NO HAS THIS SUBJECT BEEN DISCUSSED WITH ANY COUNCILMEMBER OR ADMINISTRATIVE STAFF? YES ❑ NO ❑ - IF YES, NAME OF COUN /STAFF AND DATE: y SUBJECT: ✓) SIGNATURE: �^. N � DATE: c0 v xetworktv)g Ltmebem f,TV Sarah is a business trainer specializing in Communization, Behavior, and Productivity. This includes training on Time Management, Understanding Behavior Styles and Professional Communication. Sarah teaches life long principles based upon her own experiences. We all want to think we have less time than the next person, but the reality is - we all have the same amount of time available to us every week. So why is it that some people get so much work done while others struggle to complete the minimum tasks? The truth is that those people have learned to take ownership of their time. So who really "owns" your time? YOU do! And until to re -take ownership of your time, will never truly be able to manage your time well. .015 at the vmp° ps tat do Wpt tle -jyz1'7,6 lf�' RKYIP tIYM6 dhow e 1-WAI k,' ing your business card to be entered into the Busi- _ss of the Month drawing (must he a member to win) a , T ) a ) 9 This form must be submitted to the City Secretary by 6:50pm on the day of the Council meeting • • • • Regular Meeting Date: l M/DD /YVYY PLEASE FOLLOW THE GUIDELINES BELOW: f F� y J W k. KENNEDALE You're Here,Your Home 1. Please read and clearly provide ALL information below in order that the Mayor may recognize you promptly at the appropriate time on the agenda. 2. Please state your FULL NAME and ADDRESS when you begin your remarks In order that the official minutes will record you appearance before the City Council, 3. Please make sure that your comments are directed toward the Presiding Officer rather than individual Councilmembers or Staff. All speakers must limit their comments to the subject matter as listed on your request and must refrain from using any profane language and /or personal attacks toward any individual. NAME OF SPEAKER: ADDRESS: - T>tol ' "t, PHONE: 9l - a 7 4-I e; u er' � Der. V (7 ✓~ (77-4, f EMAIL: rlloloxow.Q i 1 " - « ' CITY RESIDENT? YES ❑ NO LAY IS THE SUBJECT YOU WISH TO DISCUSS ON THE CURRENT AGENDA? YES ❑ AGENDA ## NONO HAS THIS SUBJECT BEEN DISCUSSED WITH ANY COUNCILMEMBER OR ADMINISTRATIVE STAFF? YES lJ NO El - IF YES, NAME OF COUNCILMEMBER/STAFF AND DATE: u3 l4ar -' SUBJECT: st 'CL= 'rT P "1 '4- SIGNATURE: -a L=: DATE: 732 -D¢Kv Z.- 26 t This form must be submitted to the City Secretary by 6:50om on the day of the Council meeting • y PLEASE FOLLOW THE GUIDELINES BELOW: KENNEDALE You're Here,Your Home 1. Please read and clearly provide ALL information below in order that the Mayor may recognize you promptly at the appropriate time on the agenda. 2. Please state your FULL NAME and ADDRESS when you begin your remarks in order that the official minutes will record you appearance before the City Council. 3. Please make sure that your comments are directed toward the Presiding Officer rather than individual Councilmembers or Staff. All speakers must limit their comments to the subject matter as listed on your request and must refrain from using any profane language and /or personal attacks toward any individual. NAME OF SPEAKER: Doll HaPAM ADDRESS: t50 (1 \18KJerk (-� Gt. R EMAIL: Y�aLUIU ©S�au(fabcre�e •GoW. PHONE: (917)478 -1137 4 . '(x . 7 Son CITY RESIDENT? YES ❑ NO IS THE SUBJECT YOU WISH TO DISCUSS ON THE CURRENT AGENDA? YES ❑ AGENDA # NO HAS THIS SUBJECT BEEN DISCUSSED WITH ANY COUNCILMEMBEE OR ADMINISTRATIVE STAFF ?? YES E-1 - IF YES, NAME OF COUNCILMEMBER /STAFF AND DATE: r a, SUBJECT: Imo% zd-e ' nn 6 0 SIGNATURE: b v w 4 �`� DATE: /`� �) SIGNATURE: b v w 4 �`� DATE: /`� �) This form must be submitted to the City Secretary by 6:50pm on the day of the Council meeting • • • Regular Meeting Date: MM /DD /YYYY PLEASE FOLLOW THE GUIDELINES BELOW: 1 79 V KENNE ALE You're Here,Your Home 1. Please read and clearly provide ALL information below in order that the Mayor may recognize you promptly at the appropriate time on the agenda. 2. Please state your FULL NAME and ADDRESS when you begin your remarks in order that the official minutes will record you appearance before the City Council. 3. Please make sure that your comments are directed toward the Presiding Officer rather than individual Councilmembers or Staff. All speakers must limit their comments to the subject matter as listed on your request and must refrain from using any profane language and /or personal attacks toward any individual. NAME OF SPEAKER: PHONE: ADDRESS C/ / i � �� EMAIL: c � l ACl ��(Gi/ �7Ct� [ LI. f CITY RESIDENT? YES I.4 NO ❑ IS THE SUBJECT YOU WISH TO DISCUSS ON THE CURRENT AGENDA? YES ❑ AGENDA #i � NO HAS THIS SUBJECT BEEN DISCUSSED WITH ANY COUNCILMEMBEROR ADMINISTRATIVE STAFF? YES L9 NO❑ - IF YES, NAME OF CODUNNCILMEMBER /STAFF AND DATE: SUBJECT: .J Fl. e SIGNATURE: eau- DATE: ����/ P.O. BOX 15580 817/478 -1137 FORT WORTH, TEXAS 76119 METRO 817/572 -0351 FAX 817/561 -2544 Delivery: 1150 E. KENNEDALE PKWY, info @ speedfab- crete.com KENNEDALE, TEXAS 76060 vmw.speedfab- crete.com June 9, 2011 Speed Fab -Crete Timeline of Acquisition Interest Back taxes unpaid on this property dated back to at least 1996, according to property tax records. In August 2007 — Advised Bob Hart by email of our interest in purchasing the then "old Bell Rubber" property for well over ten (10) years back to the late 1990's. We asked the City to condemn the buildings, as they were dilapidated. Met with Bob Hart and Mike Soab on Tuesday, August 7, 2007 to discuss what the City /EDC could do to help us obtain the property. • In September 2007, Speed Fab -Crete (through a third party) issued a sales purchase contract through Bryan Lankhorst to the owner's agent for $500,000. It was rejected and never counter - offered. • During 2007, a delinquent tax suit was filed by Tina Mulholland with plans to have the property posted for a courthouse steps sale in February of 2008. This did occur, but the required low bid was set at $535,000 due to the back taxes already due. The County attempted sale twice with no bids received. • May 2008 —We were advised by Tina Mulholland of Linebarger, Goggan, etc., law firm, that the property was being placed in bankruptcy court, • Bankruptcy court assigns sale of property to Marilyn Garner, Trustee, to dispose of the property. • In May 2008, Bob Hart advised by email that the City was requesting that the Board of Appeals declare the buildings to be substandard so that an order could be issued to tear them down. Hence, the "value" of the property would be returned to the land ony. This was delayed by the Board as the bankruptcy was in process. • We worked with Ms. Garner from June 2008 through June 2009 in an attempt to purchase the property for a final agreed -upon price of $360,000. This was rejected by the various taxing entities, even though the Chapter 7 trustee, Ms. Garner, supported the sale to us. The current back taxes at that time were approximately $535,000. • In October 2008, Bob Hart advised that the School District was going to "buy" the property. This did not happen. • Upon rejection of our purchase contract by the taxing entities, Ms. Garner withdrew as trustee and the bankruptcy court assigned the disposition of the property back to the taxing entities, including the City of Kennedale. • Bob Hart advises he must get approval from all the taxing entitles to move ahead with any effort to sell the property. • County approves the City of Kennedale getting an appraisal of the property and Integra issues the appraisal to the City in February 2010. • December 2010— Bob Hart advises by email that the EDC is moving ahead to sell the property and attaches an RFP request. i o w n N Ip� e 6 ° o v N C � � i 2 m .C. jjjY R$$R v�l s ��� W ill g �q�F� a - 5 M ffi 3 ro . H � � (n J H G G 0 m tj z � v s a o � k" �Y / g 12H tg� 3 � s g �2 N� O y� m 2 O_ 2Y 2� n N C � � i 2 m .C. s a o � k" �Y / g 12H tg� 3 � s g �2 N� O y� m 2 O_ 2Y 2� n � i N 0 Introduction The Kennedale Economic Development Corporation (KEDC) is seeking proposals for the purchase and development of approximately 4.5 acres at 1000 E. Kennedale Parkway. 1000 E. Kennedale Parkway is located on the southern end of the main thoroughfare through the city. KEDC demolished and cleared all structures on the property and the land is environmentally clean. The site does have rail access along the back of the property but no rail spur. The zoning is I - industrial, which along with the accessibility to U.S. 287, Loop 820 and 1 -20 makes this a great site for manufacturing and/or distribution. A preliminary plat of the 4.5 acre site is attached. About Kennedale Kennedale, with a population of approximately 7,000, is ten miles southeast of downtown Fort Worth in southeastern Tarrant County. One of the city's strengths is it's location at the intersection of 1 -20, Loop 820 and U.S. 287, providing easy access to all parts of the Metroplex including D /FW International Airport. Kennedale's quality of life is excellent, with several parks located throughout the city, and close proximity to sporting venues such as Cowboys Stadium and the Rangers Ballpark, as well as museums and zoos. The city has several festivals during the year including the Christmas tree lighting, the annual Art in the Park Festival, and a celebration of Texas' Independence. The Kennedale Independent School District (KISD) provides a variety of educational opportunities and has a superior rating of a recognized district by the Texas Education Agency. The district is comprised of 5 schools, 2 elementary, 1 intermediate, 1 middle school and 1 high school with a total enrollment of 3,150. There are several universities located near Kennedale such as the University of Texas at Arlington, Tarrant County College, Texas Christian University, and Texas Wesleyan University. Kennedalo supports a wide variety of housing options. Housing in the city ranges from starter homes to executive housing and everything in between. Kennedale Economic Development Corporation The KEDC is a Type B economic development corporation that Is supported by a sales tax that was voter approved. The mission of the KEDC is to act on behalf of the City of Kennedale In promoting and developing authorized projects, while supporting economic development activities to retain, expand, and attract municipal tax generating businesses for the purpose of diversifying the tax base and improving the city's quality of life. Submittal Requirements Request for Proposal for 1000 E. Kennedale Parkway Candidates shall prepare one (1) original and three (3) copies of their proposal. The submittal should be organized following the Submission Requirements section headings noted below and should include at least the requested information. KEDC reserves the right to request additional information as needed during the RFP process. Responses must be submitted not later than 3:00 PM CST on January 12, 2011. Responses must be submitted to: Mr. Bob Hart, Executive Director Kennedale Economic Development Corporation 405 Municipal Dr. Kennedale, TX 76060 Questions or clarifications concerning the RFP should be addressed to Bob Hart by email at bhart@cityofkennedale.com KEDC will make best efforts to respond to all questions received prior to January 6, 2011. The answers to questions deemed relevant to all candidates will provided to everyone. Proposal Requirements Cover Letter The proposal must contain a cover letter signed by the Candidate representative who is authorized to represent and negotiate on their behalf. The letter should state the legal name and form of the entity, mailing address (no P.O. Box), phone and fax numbers and e-mail address of the candidate's representative. 2. Executive Summary The proposal must contain an executive summary that briefly describes the proposed development of the 4.5 acres and other key elements of the proposal such as total estimated value of the project, estimated employment, and development timeframe. Please do not Include in the summary details regarding financial capacity, 3. Project Description Please provide a narrative description and if necessary, a graphical representations of the propose project including: a) A detailed description of the development of the 4.5 acres envisioned for the site, including the estimated number of buildings on the site and square footage, types of use of the buildings, i.e. distribution, manufacturing, potential employment numbers, estimated tax value. b) A description of the proposed project's design and architectural features. c) A brief narrative describing how the proposed development meets the mission of the KEDC. Request for Proposal for 1000 E. Kennedale Parkway 2 4. Financing Plan The proposal must contain a financing plan that contains the offer amount for the four and one -half (4.5) acres and how the project will be financed. The land is being sold with a mineral reservation and no surface use. 5. Financial Information The candidate must submit the last three (3) years of corporate tax returns, 2010 balance sheet, cash flow statement, and profit/loss statement. Selection Criteria KEDC will select the proposal based on the following criteria: • The type of development that will occur on the property. • The economic impact for the city. KEDC will evaluate the proposals not only on the potential tax revenue generated but also the impact the proposed development would have on the surrounding area. The sales price for the land. • The ability of the person or company to complete their proposed plan for the property in a reasonable amount of time. KEDC reserves the right to not accept any of the proposals. Request for Proposal for 1000 E. Kennedale Parkway 3 \ \. ..' yi y ;•. ._.�� •fit T A N .yam eb lb .g. alga wgtv gR P a 6$ g e�3A A � RR An �i� � �9� i�' . deg Ea � '� � �� � •' I c W n a) 0 U Q. C:D o City of Kennedale, Texas I Pri Certificates of Obligation, Series 2011 June 9, 2011 Table of Contents Section I: Bond Pricing Section II: Standard & Poor's Rating Section III: General Fund Debt Model SOURCES AND USES OF FUNDS City of Kennedate,l'exas Pricing of Certificates of Obligation, Series 2011 Sources: Bond Proceeds Par Amount 3,260,000.00 Accred Interest 10,057.64 Net Premium 63,615.50 3,333,673.14 Uses: Project Fund Deposits: Project Fund 3,209,135.50 Other Fund Deposits: Accrued Interest 10,057.64 Delivery Date Expenses: Cost of Issuance 65,000.00 Undenvriter's Discount 25,133.75 Bond Insurance 24,346.25 114,480.00 3,333,673.14 Jun 8, 2011 11:26 our Prepared by Southwest Securities, Inc. (Firnince 6.019 Kennedale:KEN -COI IP) Page I 0 0 0 0 0 0 0 0 0 0 O O O O O O O V l 1 n 0 0 0 0 0 O O O O O O N L1 r` O O O O O O O O O O � .-. N N to I n 'III` Vl �n Vl � yr N C O r` O N M M M C N ✓1 M V � � U O O O 0 0 0 N N N O O O N o O o y U U U Y. n V a oo O w V C � o w o O O y Ero➢ Q ' O N N n N V M O M O W Cn y` „ 0000000000 O O O O P W a a C O z x° m o W' orn rnoonohho 0 0 0 o ti A W O O➢ M 0000 rn 0000 O O O O O c 0 0 0 0 0 0 0 0 0 0 0 0 o O o 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 ° 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 O O Vl O N rn h O O r!1 Vl In N N rn M b ti g N N N N N N ~ RCN Q 0 0 0 0 0 0 0 0 0 0 O O O O o 0 0 0 0 0 0 0 0 0 0 O O O O O M P N N N N m N N N N N C a a a a a n Q Q Q Q Q a a a a a E E c c c c c U U 0. W 0.l 0.l fA @ @ @ W !A H F F H F 0 b b 0 N M O 000 0 ,� O O O O O O N r� o e o n P a rn � o0 ti O O O ° in in e :O 2 o M N m r•i rn h O M C O Q U L «°� Q o o f g a U Q 2 N U 0➢ N M a O V 2 u 9 T O b V_ V U N v L O s 9 6 e N O N W G_ BOND DEBT SERVICE City of Kennedale, Texas Pricing of Certificates of Obligation, Series 2011 Period rkn ual '..,. Ending Principal Coupon Interest Debt Service Debt Service 02/0112012 150,000 2.000% 68,966.67 218,966.67 08 /01 /2012 50,225.00 50,225.00 09/30/2012 269,191.67 02/01/2013 170,000 2.000% 50,225.00 220,225.00 08101/2013 48,525.00 48,525.00 i 09/30/2013 268,750.00 02/01/2014 205,000 2.000% 48,525.00 253,525.00 08/01/2014 46,475.00 46,475.00 09/30/2014 300,000.00 02101/2015 210,000 2.000% 46,475.00 256,475.00 08/01/2015 44,375.00 44,375.00 09130/2015 300,850.00 02101/2016 215,000 2.500% 44,375.00 259,375.00 08/01/2016 41,687.50 41,687.50 09/30/2016 301,062.50 02/01/2017 215,000 2.500% 41,687.50 256,687.50 08/01/2017 39,000.00 39,000.00 09/30/2017 295,687.50 ., 02/01/2018 225,000 3.000% 39,000.00 264,000.00 08/01/2018 35,625.00 35,625.00 09/30/2018 299,625.00 02/01/2019 115,000 3.000% 35,625.00 150,625.00 08/01/2019 33,900.00 33,900.00 09/30/2019 184,525.00 02/0112020 120,000 3.000% 33,900.00 153,900.00 08/01/2020 32,100.00 32,100.00 09/30/2020 186,000.00 02/01/2021 120,000 3.000% 32,100.00 152,100.00 08/01/2021 30,300.00 30,300.00 09/30/2021 182,400.00 02/01/2022 125,000 4.000 30,300.00 155,300.00 .. :i 08/01/2022 27,800.00 27,800.00 09/30/2022 183,100.00 02/01/2023 130,000 4.000% 27,800.00 157,800.00 08/01/2023 25,200.00 25,200.00 09/30/2023 183,000.00 02/01/2024 135,000 4.000% 25,200.00 160,200.00 08/01/2024 22,500.00 22,500.00 09/30/2024 182,700.00 02/01/2025 140,000 4.000% 22,500.00 162,500.00 08/01/2025 19,700.00 19,700.00 09/30/2025 182,200.00 02101/2026 150,000 4.000% 19,700.00 169,700.00 08/01/2026 16,700.00 16,700.00 09/30/2026 186,400.00 02/01/2027 155,000 4.000 16,700.00 171,700.00 08/01/2027 13,600.00 13,600.00 09/30/2027 185,300.00 02/01/2028 160,000 4.000% 13,600.00 173,600.00 08/01/2028 10,400.00 10,400.00 09/30/2028 184,000.00 02/012029 165,000 4.000% 10,400.00 175,400.00 08101/2029 7,100.00 7,100.00 09/3012029 182,500.00 02/0112030 175,000 4.000% 7,100.00 182,100.00 08/01/2030 3,600.00 3,600.00 09/30/2030 185,700.00 02/01/2031 180,000 4.000% 3,600.00 183,600.00 09130/2031 _ 183,600.00 3,260,000 Jun 8, 2011 11:26 am Prepared by Southwest Securities, Inc. i 1,166,591.67 4,426,591.67 4,426,591.67 ( Pinance6 .019Kennedale:KEN- COIIP) Page3 BOND SUMMARY STATISTICS City of Kennedale, Texas Pricing of Certificates of Obligation, Series 2011 Dated Dale 06/01/2011 Delivery Date 07/06/2011 Last Maturity 02/0112031 Arbitrage Yield 3.429255% True Interest Cost (TIC) 3.547156% Net Interest Cost (NIT) 3.602176% All -In TIC 3.805238% Average Coupon 3.646359% Average Life (years) 9.717 Duration of Issue (years) 7.869 Par Amount 3,260,000.00 Bond Proceeds 3,333,673.14 Total Interest 1,166,591.67 Net Interest 1,128,109.92 Total Debt Service 4,426,591.67 Maximum Annual Debt Service 301,062.50 Average Annual Debt Service 225,685.20 Underwriter's Fees (per $1000) 9.717 Average Takedown - 4.376917 Management Fee 1.000000 Other Fee 2.332822 Total Underwriters Discount 7.709739 Bid Price 101.180422 '.... Jun 8, 2011 11.26 am Prepared by Southwest Securities, Inc. (Finance 6.019 Kennedale:KEN- COUP) Page 4 Par Average Average Bond Component Value Price Coupon Life Bond Component 1,745,000.00 102.435 2.669% 4.776 Term Bond Due 2023 255,000.00 105.702 4.000% 11.079 Terra Bond Due 2025 275,000.00 101211 4.000% 13.079 Terra Bond Due 2027 305,000.00 101.589 4.000% 15.078 Tenn Bond Due 2029 325,000.00 100.000 4.000% 17.077 Term Bond Due 2031 355,000.00 98.000 4.000% 19.076 3,260,000.00 9.717 All -In Arbitrage TIC TIC Yield Par Value 3,260,000.00 3,260,000.00 3,260,000.00 +Accrued Interest 10,057.64 10,057.64 10,057.64 • Premium (Discount) 63,615.50 63,615.50 63,615.50 - Underwriter's Discount - 25,133.75 - 25,133.75 - Cost of Issuance Expense - 65,000.00 - Other Amounts - 24,346.25 - 24,346.25 - 24,346.25 Target Value 3,284,193.14 3,219,193.14 3,309,326.89 Target Date 07/06/2011 07/06/2011 07106/2011 Yield 1547156% 3.805238% 3.429255% '.... Jun 8, 2011 11.26 am Prepared by Southwest Securities, Inc. (Finance 6.019 Kennedale:KEN- COUP) Page 4 Summary: Kennedale, Texas; General Obligation Primary Credit Analyst: Lauren Spaiten, Dallas 214- 871 -1421; lauren _spalten @standardandpoors.com Secondary Contact: Jim Tchou, New York (1) 212- 438 -3821; jim_tchou @standardandpoors.com Table Of Contents Rationale Outlook Related Criteria And Research www. standardandpoors .com /ratingsdirect 1 Summary: K£ ennii edale, Texas; General Obligation US$3.0 mil combination tax and rev ceps of oblig ser 2011 dtd 06/01/2011 due 02/01/2031 Long Term Rating A+ /Sta ble Ne w I Kennedale GO (ASSURED GTY) Unenhanced Rating A +ISPUft) /Stable Affirmed Many issues are enhanced by bond insurance. I' Rationale Standard & Poor's Ratings Services assigned its 'A +' rating to Kennedale, Texas' series 2011 combination tax and revenue certificates of obligation. At the same time, Standard & Poor's affirmed its 'A +' underlying rating (SPUR) on the city's existing general obligation (GO) debt. The outlook on all ratings is stable. I The ratings reflect our view of the city's: • Participation in the deep and diverse economy of the Fort NCtorth- Dallas MSA, boosting income levels; • Good financial management practices; and • Historically very strong financial reserves. The preceding credit strengths are offset in part by our view of the city's somewhat limited immediate economic base and moderately high overall net debt burden as a percent of market value. The certificates are secured by a combination of the levy and collection of a direct and continuing limited ad valorem tax and surplus revenues from the city's waterworks and sewer system. City officials will use certificate _ proceeds to fund various projects throughout the city. Kennedale, a primarily residential community, has an estimated population of 6,763 and is located within Tarrant County (AAA/Stable GO rating), 11 miles southeast of Fort Worth (AA+ /Stable GO rating), Texas. City residents have access throughout the MSA via Interstate 20. Up until fiscal 2010, the city's taxable assessed value (AV) had experienced what we consider solid growth, increasing by an average of about 10% each year for the past five years to reach approximately $541.3 million for fiscal 2010. Fiscal 2011 AV, however, has declined by about 4% to approximately $521.5 million, which city officials attribute to an overall decline in values; management expects no further declines. Several businesses in Kennedale have increased their work forces over the past year, adding a total of more than 100 new jobs to the local economy. In addition, some existing manufacturing companies in the city have expanded their facilities, with further expansions for some still to come. New -home construction has continued in the city, with about 16 new homes built so far this year. The city's tax base remains very diverse, in our view, with the 10 leading taxpayers accounting for about 15% of AV for fiscal 2011. Income levels for the city are good, in our view, with median household effective buying income at about 108% of the national level. Market value per capita, an indicator of wealth, is strong, in our opinion, at approximately $77,115. Despite a recent decline in the city's general fund balance, which lowered the city's reserves below the formal fund Standard & Poor's I RatingsDirect on the Global Credit Portal ( June 1, 2011 Summary: Kenuedale, Texas; General Obligation balance policy, Kennedale's financial position remains very strong, in our view. The city drew down on the general fund balance by approximately $64,000, reducing the city's unreserved general fund balance to approximately $1.5 million, which equates to what we consider a very strong 23% of operational expenditures. City officials report they were aware the reduction would place the fund balance below their policy; according to management, the drawdown was not planned, but necessary, in order to achieve certain energy improvement projects after the city failed to receive some anticipated grant funds. For fiscal 2011, city officials conservatively anticipate ending the year with break -even operations, and that a small general fund surplus is possible. Sales tax revenues for fiscal 2011 are at least on track with the budget, if not slightly better. Recent developments include the successful passage of an alcohol sales election, resulting in the sale of beer and wine in various convenience stores, which have reportedly at least doubled in -store sales. We understand the city intends to adopt a balanced budget for fiscal 2012. The city's property tax rate remains 72.25 cents per $100 of AV for fiscal 2011, and has remained at that level for seven years. Kennedale's management practices are considered "good" under Standard & Poor's Financial Management Assessment (FMA) methodology, indicating that practices exist in most areas, although not all may be formalized or regularly monitored by governance officials. The city has a formal long -term capital improvement plan and reviews it with the council annually. Management calculates revenue and expenditure estimates using historical sales tax trends, AV growth, and personnel costs. The council performs budget amendments, as needed, to address expenditure reclassifications and additional expenses; the council approves these amendments according to management's recommendation. The city has a formal investment policy in which staff and the council review compliance monthly. While city officials have an adopted formal general fund reserve policy of maintaining at least 25% of operations in reserve, the) are currently not in compliance with this policy. In our view, the city's overall net debt burden is moderately high at about 7.2% of market value and high on a per capita basis at approximately $5,590. Debt service carrying charges accounted for about 11% of expenditures in fiscal 2010. The amortization schedule is average, with about 57% of principal retiring over the next 10 years and all debt currently scheduled to retire by 2031. We understand the city currently has no plans to issue additional debt for the next 18 to 24 months. Outlook The stable outlook reflects our expectation that city officials will restore the city's general fund balance to a level in compliance with the city's formally adopted reserve policy. A substantial deterioration of the city's financial position could lead to downward pressure on the city's debt rating. Conversely, further expansion and diversification of the city's immediate local economy, in combination with the stabilization of the city's financial position, could lead to '.. positive rating action. Related Criteria And Research USPF Criteria: GO Debt, Oct. 12, 2006 Complete ratings information is available to subscribers of RatingsDirect on the Global Credit Portal at www.globalcreditportal.com. All ratings affected by this rating action can be found on Standard & Poor's public Web site at ww�v.standardandpoors.cont. Use the Ratings search box located in the left column. www.standardandpoors.com/ratingsdirect Copyright © 2011 by Standard & Fears Financial Services LLC IS &PI, a subsidiary of The McGraw -Hill Companies, Inc. 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Additional information about our ratings fees is available at w" v. standardardpoors .com /usratingsfees. li + SOS Standard & Poor's I RatingsDirect on the Global Credit Portal I June 1, 2011 4 L N M V m V O W O N O r iNNN0 0 0m W mom o O O O O O O O O O O O O O O C 0000 O tH fA E9 f9 EA fA fA (9 E9 tH M fA H3 H3 fA fA f9 fA fA O h L p M N m m M M m m m m O m r m m V ul O N_ N� Mr rMM 0 0 0 0 0 0 a 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 O H3 E9 EH fA fA f9 fA fA fA fA E9 f9 EA fA fA fA fA (9 E9 N T T 04 N ) Lo K O (- fC d 0) .Q O O f � U � j U Q N M Ff? T CD N d G 3 V Z U_ w a J Q Z_ LL. 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