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2008_04.15 EDC Agenda PacketNOTICE OF MEETING OF THE KENNEDALE ECONOMIC DEVELOPMENT CORPORATION BOARD w ",O TEXAS Notice is hereby given that a Regular Meeting will be held by the Kennedale Economic Development Corporation Board of Directors on the 15 day of April 2008 at 7:15 P.M., in the Kennedale Municipal Building, Conference Room located at 405 Municipal Drive, Kennedale, Texas, at which time the following subjects will be discussed to wit: (SEE ATTACHED AGENDA) Dated this 10 day of April 2008. By: Robert P. Mundy, President I, the undersigned authority, do hereby certify that the above Notice of Meeting of the Economic Development Corporation Board of Directors is a true and correct copy of said Notice and that I posted a true and correct copy of said Notice on the bulletin board of City Hall of said City in Kennedale, Texas, a place convenient and readily accessible to the general public at all times, and said Notice was posted on April 10, 2008 at 10:30 o'clock A.M., and remained so posted continuously for at least 72 hours preceding the scheduled time of said Meeting. Persons with disabilities who plan to attend this meeting and who may need auxiliary aids or services such as interpreters for persons who are deaf or hearing impaired, readers, large print, are requested to contact the undersigned at (817) 483 -1296 five (5) work days prior to the meeting so that appropriate arrangements can be made. Dated this the 10 day of April 2008. By: Kathy Turner, Secretary to EDC 1 CALLTOORDER ROLL CALL 4LI 6 �- � I () -� I. REGULAR ITEMS a. Review and consider approval of minutes: Special meeting dated March 4, 2008 Regular meeting dated March 18, 2008. b. Review and discuss financial monthly reports.. C. Review and consider amending guidelines, definitions, and performance agreement requirements for Visual/Functional Revitalization Grants. d. Review of Documentation and Authorization to reimburse Mark Watson dba R.E. Watson & Associates for approved functional improvements of up to a maximum of $13,881.86 in Functional Grant funding. II. STAFF ANNOUNCEMENTS/REPORTS a. Executive Director Announcement /Reports. b. KEDC Director Announcement/Reports. III. PRESIDENT/BOARD ANNOUNCEMENTS/REPORTS a. President Announcements /Reports b. Board of Directors Announcements/Reports The Board of Directors 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. a. Subway b. Kennedale Retail Center leasing procedures. V. RECONVENE INTO OPEN SESSION AND TAKE ACTION NECESSARY PURSUANT TO EXECUTIVE SESSION. ADJ 11 Y"I % I F Date: April 7, 2008 Z- � �i� Subject: Review and consider approval of meeting minutes: March 4, 2008 — Special Meeting Mardh 18, 2008 — Regular Meeting Originated by: Kathy Turner, KEDC Secretary Summary: Draft copy of minutes reflecting action taken during special meeting dated March 4, 2008, and regular meeting dated March 18, 2008. Recommendation: Recommend Approval. Disposition by KEDC Board of Directors*. �(' " Q ® 4o V'C- -Po"L'" KENNEDALE ECONOMIC BOARD; 405 )PMtNT CORPORATION — :MARCH 4, 2008 ?DALE MUNICIPAL BLDG. �E ROOM President, Robert Mundy called the special meeting to order at 7:18 p.m. 261 Members present: President, Robert Mundy, Board of Directors, Darrell Erwin, Rebecca Mowell, and Doug Parker. Vice - President, Beverly Hayes an•ived at 7:20 p.m. Members absent: Board of Director, Donnie Graham. Staff present: Mike Soab, KEDC Director and Kathy Turner,. Secretary. I. REGULAR ITEMS a. Review and consider Functional Revitalization Grant for Sundance Metal Fabricators, LLC located at 6705 and 6709 Lindale Rd., Kennedale, TX, requested by Chris Rogers. Darrell Erwin moved to approve Functional Revitalization Grant for Sundance Metal Fabricators, LLC. on a 1/7 ratio, max pay out of Thirty Thousand Dollars ($30,000.00), second by Rebecca Mowell. Motion carried (5 -0). b. Review and consider Visual Revitalization Grant for Sundance Metal Fabricators, LLC located at 6705 and 6709 Lindale Rd., Kennedale, TX, requested by Chris Rogers. Doug Parker move to approve Visual Revitalization Grant for Sundance Metal Fabricators, LLC. On a 1/3 ratio, max pay out of Five Thousand Dollars ($5,000.00), second by Vice - President, Beverly Hayes. Motion carried (5 -0). Vice President, Beverly Hayes moved to adjourn the meeting at 8:42 p.m., second by Doug Parker. Motion carried (5 -0). APPROVED: President, Robert P. Mundy ATTEST: Kathy Turner, Secretary to EDC 262 MINUTES KENNEDALE ECONOMIC DEVEL,. ? : .T CORPORATION BOARD OF. IR CTOI . REGULAR MEET — M,RCH``18, 2008 405 MUNIC'kS DR? IDALE MUNICIPAL BLDG. CONFEINCE ROOM President, Robert Mundy calleq�lb meeting to order at 7:16 p.m. Members present: President, Robert Mundy, Vice - President, Beverly Hayes, Board of Directors, Rebecca Mowell, Megan Husby, Doug Parker, Darrell Erwin, and Donnie Graham. Members absent: None Staff present: Bob Hart, KEDC Executive Director, Mike Soab, KEDC Director, and James Cowey, Building Official. I. REGULAR ITEMS a. Introduction and seating of Megan Husby, new KEDC Board of Director (Place 6). President, Robert Mundy welcomed new Board of Director, Megan Husby to the board. b. Review and consider minutes: regular meeting dated February 19, 2008 and special meeting dated March 4, 2008. Doug Parker moved to approve the meeting minutes dated February 19, 2008 as submitted, and moved to approve the meeting minutes dated March 4, 2008 contingent upon correction to item I -b motion to reflect "On a ratio of 1/3." Motion second by Rebecca Mowell. Motion carried (7 -0). C. Review and consider Visual Revitalization Grant for new Subway Sandwich Shop in future TownCenter Kennedale Project. Rebecca Mowell moved to approve Visual/Functional Revitalization Grants on a 1/7 and 1/3 ratio. Motion second by Donnie Graham. President, Robert Mundy moved to amend motion to decrease Visual grant to zero and increase Functional grant by $10,000.00. Motion failed due to lack of second. Original motion passed 6 to 1 with Rebecca Mowell, Donnie Graham, Vice - President, Beverly Hayes, Megan Husby, Doug Parker, and Darrell Erwin voting aye, while President, Robert Mundy voted nay. Motion carried. d. Review and consider Functional Revitalization Grant for new Subway Sandwich Shop in future TownCenter Kennedale Project. This item was approved under Item I -c. 263 e. Review financial monthly reports. Mike Soab, KEDC. Director advised the Board that six months of reports would be available for review at the next KEDC meeting. Soab also advised that the audit year -end was included in the packet for review, and if any questions arise to please email him and he would forward to the Director of Finance for his review and response. Board of Directors questioned the timing of reports being presented and recommended reports are available in the packets for review. f. Review and discuss status of TownCenter Plaza project. Mike Soab, KEDC Director provided an update to the TownCenter Plaza fountain and eagle statue, which would pay tribute to our Veterans. In addition, Park Board Members David Smith. and Mike Bevill were present to give insight to the TownCenter Plaza. Smith:thanked the Board for allowing the Park Board to participate in the project, and said that the Board is very receptive to the project. Bevill added that he had visited with some Veterans and that they are very pleased with the idea that the City is recognizing their efforts. He said that the Park Board unanimously supports the project, and is also looking into selling bricks and benches for the plaza, as well as installing a brass plaque noting the dedication. g. Review and discuss job description for KEDC Board of Directors. Bob Hart, City Manager and KEDC Executive Director provided a generic KEDC job description similar to the other city board /commission member descriptions for review. Recommended revisions were discussed with final draft to be presented to the board along with the other city board /commission descriptions prior to the next meeting. II. STAFF ANNOUNCEMENTS/REPORTS a. Executive Director Announcement/Reports. Bob Hart, City Manager and Executive Director reminded the board of the upcoming appreciation dinner to be held on March 27 "' at 6:30 p.m. in the Life Fellowship Church, and reminded each to submit their dinner selection. b. KEDC Director Announcement /Reports. No announcements and or reports. ANNOUNCEMENTS/REPORTS III. PRESIDENT/BOARD President Announcements /Reports President, Robert Mundy reported on the following: 1. Recommended scheduling a workshop to review requirements for visuat/functional grants; 2. Recommended monthly financial reports be included in packets; 264 3. Recommended email responses be curtailed to KEDC Director only to prevent violations in the Open Meetings Act. b. Board of Directors,Announcements/Reports Board of Directors suggested legal counsel attend the workshop to receive clarification on what grant monies can and cannot be spent on. Bob Hart, City Manager and KEDC Executive Director recommended that a 4A and 4B consultant be brought in to advise the Corporation on current trends and current practices. The Board of Directors 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. No executive session was held. V. RECONVENE INTO OPEN SESSION AND, ON NECESSARY PURSUANT TO EXECUTIVE SESSION. No executive session was held. VI. ADJOURNMENT Megan Husby moved to adjourn the meeting at 8:49 p.m., second by Donnie Graham. Motion carried (7 -0). APPROVED: President, Robert Mundy ATTEST: Kathy Turner, Secretary to EDC N #. /, � �„ D April 15 200 perf Subject: Review and consider amending guidelines, definitions, and f Visual/Functional Revitalizati O r ig inated , •', Mik • • r Di recto r At the EDC's March 18, 2008 meeting, the Board reviewed some aspects of Visual and Functional Grants as part of considering Subway's requests for grant assistance. During Subway's review process — the Board voted to include Subway's. storefront and street signage as part of the Visual Revitalization review process and awarded them a Visual Grant for such improvements. Additionally, it was decided that the Board wishes to further clarify and define what proposed applicant revitalization efforts fall under which category. At the March 18, 2008 meeting, Board President Mundy submitted a spreadsheet listing Grant category suggestions and this spreadsheet is attached as a stimulus for beginning discussions. Attached are the Grant Information handouts that are given to potential applicants in beginning the grant request process. iii • - • • 1 � FIVI II I i • � c I Recommendation: Definitive guidelines for Visual & Functional Grants and Performance Agreements would benefit staff, applicants, and Board Members in the Grant review and consideration process and help to standardize revitalization categories and performance requirements. Disposition This Economic Development and Performance Agreement ("Agreement") is m ad e a • e • b and be d.b.a. ( the "Applicant"), and the Kennedale Economic Development Corporation (the "Corporation") a nonprofit corporation organized under the Development Corporation Act of 1979, Article 5190.6 V.A.T.C.S., Section 4B (the "Act"), for the purposes and considerations stated below: 1. Applicant owns a I parcel of real estate located at within the corporate limits of the City of Kennedale, hereafter referred to as the "Property." 2. The Corporation has determined and found that the Project and Improvements, as herein defined, meet the purposes of the Corporation's Commercial Revitalization Grant Program in that they will provide improvements to businesses or commercial property that will in turn add economic value to the City. 3. Corporation, which has determined that substantial economic benefit and the creation of new opportunities of employment will accrue to City as a result of Applicant's development and operation of the Project (as hereinafter described), desires to have Applicants construct Improvements in connection with the opening of a new . This development will increase the taxable value of the Property and will indirectly result in the creation of additional jobs throughout the City and the value of the benefits of the Project will outweigh the amount of expenditures required of the Corporation under this Agreement. 4. Corporation, to encourage the development and operation of the Property, desires to participate in the funding of the cost of improvements as set forth in Applicant's applications for a Visual Revitalization Grant and a Functional Revitalization Grant (the "Grant Applications "). NOW, THEREFORE, in consideration of the mutual benefits and promises contained herein and for other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties agree as follows: 1 Authorization. This Agreement is authorized by Texas Civil Statutes Annotated art. 5190.6, Section 4S. C: \Documents and Settings \kturner.KENNEDALETX.000 \Local Settings \Temporary Internet Files \01-K20D\BLANK - Performance Agreement - Grants.doc Page 1 2. Definition CITY means the City of Kennedale, Texas. IMPROVEMENTS means the improvements set forth in detail in the Grant Applications, which are incorporated fully herein. PROJECT means a new PROPERTY means the tract of land described as located at , Kennedale, Texas 76060. This Agreement shall be effective as of the date of execution of all parties. This Agreement will terminate upon expiration of year(s) after the written documentation required by Section 7(b) of this Agreement is received by the Corporation or as otherwise provided for in this Agreement. If Applicant has not commenced substantial construction of the Improvements within six (6) months from the date of execution of this Agreement, this Agreement shall terminate and the Corporation shall have no further obligation hereunder. (a) In consideration of Corporation agreeing to pay Applicant monies in accordance with the terms and conditions of this Agreement, Applicants agree to: (1) Design and construct the Improvements; (2) Occupy and operate the Project as a for (X) year(s) after the written documentation required by Section 7(b) of the Agreement is received by the Corporation; Retain . .., for the term of this Agreement: C: \Documents and Settings\kturner. KEN NEDALETX.000\Local Settings \Temporary Internet Files \01-K20D\BLANK - Performance Agreement - Grants.doc Page 2 (b) Applicant agrees to render the Property to the Tarrant County Appraisal District and remain current on all property taxes for the term of this Agreement. - t All rights, covenants, restrictions, burdens, privileges and charges, set forth in this Agreement shall exist at all times as long as this Agreement is in effect, among all parties having any right, title or interest in any portion" of all of the Property. Applicant shall be solely responsible for the design and construction of the Improvements and shall comply with all subdivision regulations, building codes and other ordinances of the City applicable to the Project. (a) Corporation shall participate with Applicant (at a rate of one grant dollar per each two dollars of Applicant expenditures) in the cost to construct the approved VISUAL Improvements in an amount not to exceed Five 'Thousand Dollars ($5,000.00). (b) Corporation shall participate with Applicant (at a rate of one grant dollar per each six dollars of Applicant expenditures) in the cost to construct the approved FUNCTIONAL Improvements in an amount not to exceed Thirty Thousand Dollar s 030100 (c) Corporation shall make payment to Applicants , _ �iays after a certificate of occupancy is issued by the City for the Improvements and the submission to the Corporation of satisfactory documentation evidencing the expenditures for the construction of the Improvements. MEERM Applicant agrees to permit Corporation to erect a sign on the Property which may state that the Corporation has provided funding for the Project, and to allow the KEDC C: \Documents and Settings \kturner.KENNEDALETX.000 \Local Settings \Temporary Internet Files \OLK20D \BLANK - Performance ae 3 Agreement - Grants.doc to use the name and representations of the Improvements and the Project in promotion of the City of Kennedale and the Corporation. �•� �� iml 11. Default. If a party should default (the "Defaulting Party ") with respect to any of its obligations hereunder and should fail, within thirty (30) days after delivery of written notice of such default from another party (the "Complaining Party ") to cure such default, the Complaining Party, by action or proceeding at law or in equity, may be awarded its damages and /or specific performance for such default. Applicant and the Corporation shall do all things necessary or appropriate to carry out the terms and provisions of this Agreement and to aid and assist each other in carrying the terms and provisions. C: \Documents and Setti ngs\ktu rner. KENN EDALETX. 000\Local Settings \Temporary Internet Files \OLK20D \BLANK - Performance Page 4 Agreement - Grants.doc 4 14. Section or Other Headings. Section or other headings contained in this Agreement are for reference purposes only and shall not affect in any way the meaning or interpretation of this Agreement. In the event any legal action or process is commenced to enforce or interpret provisions of this Agreement, the prevailing party in any such legal action shall be entitled to recover its necessary and reasonable attorneys' fees and expenses incurred by reason of such action. 16. Entire Agreement. This Agreement contains the entire agreement between the parties with respect to the transaction contemplated herein. This Agreement may only be amended, altered, or revoked by written instrument signed by Applicant and the Corporation. • s Ulm This Agreement shall be binding • • the benefit of parties, successors respective and assigns. •• assign all or of • and ,# hereunder only upon prior written approval of the Corporation, which approval shall not be unreasonably withheld or delayed. 19. Notice. Any notice and /or statement required and permitted to be delivered shall be deemed delivered by depositing same in the United States mail, certified with return receipt requested, postage prepaid, addressed to the appropriate party at the following addresses, or at such other addresses provided by the parties in writing: C: \Documents and Settings\kturner. KENN EDALETX. 000\Local Setting s \Temporary Internet Files \OLK20D \BLANK - Performance Agreement - Grants.doc Page 5 Kenn edale Econ 4, 05 Municip Il Regardless of the actual drafter of this Agreement, this Agreement shall, in the event of any dispute over its meaning or application, be interpreted fairly and reasonably, and neither more strongly for or against any party. This Agreement is made, and shall be construed and interpreted under the laws of the State of Texas and venue shall lie in Tarrant County, Texas. In the event any provision of this Agreement is illegal, invalid, or unenforceable under present or future laws, then, and in that event, it is the intention of the parties hereto that the remainder of this Agreement shall not be affected thereby. This Agreement may be. executed in multiple counterparts, each of which shall be considered an original, but all of which shall constitute one instrument. �r Nothing contained in this Agreement is intended by the parties to create a partnership or joint venture between the parties. _ �; OlRq C: \Documents and Settings \kturner.KENNEDALEI"X. \Local Settings \Temporary Internet Files \OLK20D \BLANK - Performance Agreement - Grants.doc Page 6 O .� �' i I5 y Date: Cc \Documents and Settings\kturner. KEN NEDALETX.000\Local Settings \Temporary Internet Files \OLK20D \BLANK - Performance Agreement - Grants.doc MEMMMAZE N ECONOMIC fop enemy CORPO&WON -'4o grant reimbursement funds will be paid until the project is completed and verified by a KEDC representative(s) and a satisfactory Performance Agreement is executed by both parties, Cost incurred prior to the date of the grant approval may not be recognized for matching funds. Kennedale Econornic Development Corporatio Commercial Rev The purpose of the Commercial Revitalization Grant Program is to encourage functional and visual improvements of commercial properties by providing incentives to businesses or property owners in the City of Kennedale that add economic value to the city. For Fiscal Year 2006 (October 2006 through September 2007), the Kennedale Economic Development Corporation (Corporation) will consider awarding grants to applicants that demonstrate in their applications that improvements to businesses or commercial property within the city limits of the City meet the purposes of the grant program. . Grants will focus on the following gene�aI guidelines: �� r 1. Grants to reimburs costs for exterior visual improvements will be awarded up to a maximum of $ per address not to exceed a one - dollar grant to two - dollar equity ratio. For - ample $2 owner and - "09- from- a- ga►3t-€remAhe Corporation coald-fend -a4and ing protec a c 0. rants to reimburse a costs for functional improvements will be awarded up to a maximum of $30,000 per `a°ddres:- exceed_ one - dollar grant to six - dollar equity ratio. For example ;000 from the property owner and 20,000 from a grant from thCororation fund an upgrade of manufacturing equipment project that cost $14 , 00. Only costs from a vendor for purchased labor or materials will be recognized for matching funds. Costs for the applicant's employee labor or in -stock materials are not eligible for reimbursement. Use of Kennedale vendors is encouraged but not required. 0 _t) % 3 will be limited to one visual improvement and one functional improvement grant for the FY-- -®6=®7 period per address. The property being improved must be within the city limits of Kennedale. �- a e applications are required for visual improvemen ah unc i al , p m r ovem nts 6. In order to qualify, a proposed project must start after grant approval and completed within six months of the award. The Corporation may, at its sole discretion, extend the period of performance. The City Staff will verify both the start of work and completion. No grant reimbursement funds will be paid until the project is completed. Costs incurred prior to the date of the grant approval may not be recognized for matching funds. Page I of 3 M 1. The impact of the propos #& project on the commercial revitalization of and /or the potential tax revenues generated for the City. 2. The track r:dale rd he applicant for successfully operating a business. 3. Use of K vendors to perform improvement tasks. 4. Enc gement for business to move into Kennedale. 5. reation of jobs. 1. Complete the Commercial Revitalization Grants application. The Economic Development Corporation will notify applicants within no more than 0 days if a grant has been awarded. tl�b 2. If a grant has been awarded, the project must be completed within six months. 3. When the project is complete, the applicant must request the city staff to verify completion and costs. Costs not substantiated with actual invoices, receipts, etc. require advance coordination with the City Staff. Upon notification by the staff that the project has been completed and a satisfactory Performance Agreement has been executed by both parties, the Corporation will transfer the awarded funds to the applicant for reimbursement of, costs up the awarded amount at the matching ratio specified in the award letter. Page 2 of 3 Application Data Elements: 1. Applicant Name, Address, Phone Number 2. Property: Business Name, Address, Phone Number C Type of Project For Which Grant Is Requested: (Exterior Visual Improvement or Functional Improvement) 4. Description of Improvement Project 5. Estimated Cost of Project and Amount of Grant Requested 6. Plan for use of Kennedale Vendors 7. Description of expected commercial revitalization benefits to the property and the City 8. Applicant's Business Experience 9. Signed Certificate of Understanding to include the following points: A. Improvements will not start prior to grant approval. If a grant is awarded, the project must be completed within six months. B. Projects must comply with existing laws. City Code, Ordinances, Permits and other legal requirements apply in the same manner as if the project were not being partially funded by a commercial revitalization grant. C. Grant award will be contingent on the applicant giving access to the property and financial records about the improvement project in order that the Kennedale City Staff may verify start, completion and cost of the project. D. Use of Kennedale vendors is encouraged, but not required. The Corporation will evaluate your plan for vendor selection during grant award consideration. Payment of the grant by the Corporation is contingent onortuccegsful verification by the City Staff of the improvements specified in the application and any conditions listed in the notification of grant award letter. F. The award of grants and the amount of the grants will be at the sole discretion of the Corporation. The Corporation may, at any time, change the guidelines and criteria for grants prior to sending a grant award notification letter. 04-, G_ Tea t agrees as a condition of application that the liability of the i "Corporation or the City of Kennedale to the applicant will not exceed the amount specified in the grant award notification letter. N/»± LE ECONOMIC COMMERCIAL REVITAL GRANT PPP C©:I#22#Ry � w-mro, >. . ©m*dey ¥f» *G *:: v,. ?r>-t . < .. >,a. - �� ,. >� :© « ff *f >y*. �< +3 #<f:* � ;± » <, #,<« >»s ..,... °~ « <!?x?! ?*< 0 NO Plan for use 2 «±< please at li st .Zanticipated 2 ©« *_» Vendors . >.�...�.� .. .. .� �c .....avra. « *2±\2 ±S » #f±2234« f2 /f? /± »«f22� f���»5 # ?SCf�f�� #S.. ..,.�r� PROJECT. HE PROPOSED JEC . rsrn �• /_ Ag Item o: a Subject: Review of Documentation and Authorization to reimburse Mark Watson dba R.E. Watson and Associates for approved functional improvements in the amount of $13, Summary: R.E. Watson and Associates is a 25 Lyear old Kennedale glass manufacturing company supplying wholesale glass and mirrors to the construction trade. The KEDC approved Mark Watson dba R.E. Watson & Associates on October 16, 2007 for a Functional Grant reimbursement of up to $13,881.86 in order to purchase and install a new computer automated glass polisher and a microseparator coolant system. Mr. Watson has spent a total of $98,023.14 for his functional improvements. improvements. the purchased and installed I have received final invoices and cancelled checks for the functional improvement expenditures and have placed the checks in the file. I have c om p leted - attached Grant Checklist to refle th p Disposition by : bc ---C) CADocuments and Settings\ cbrown \mydocuments \samplestaffreport I M! I I Grant Applicant: IWACK _ b- s) - D es A g tau Date of Final EDC Approval for Reinbursement: R E WATSON & AS�[JC INC R E W4�SON & �SS8C B/o MARK WAT 6 INC � 6��O T8W��R DR ' 62Q TOWER ' DR T P[] 8�X 69� r P[} 8OX 691 o KENNEDALE TX 76O6O » K E��NEDA�E TO X 760 6 SOMACA ORDER NO. CUSTOMER PO PAYMENT TERMS 13 46 6 E�ae Below SALES REP ID SHIPPING METHOD SHIP DATE QUANTITY I I - ITEM NUMBER ORDERED SHIPPED I B/o MARK WAT 6 ' DESCRIPTION MI�ROBEPAR��O� FI'LT TSK 8D YSTEM DDEL TS� 8OM CENTRI * Sub–Total� FRT FRE: IGHT , AiHT REFAID. C 817– MA� WATSON �4HRB LIVERY ` 8rder tota1� **Tot�l Invoic� / � | / �', � qv I INVOICE DUE DATE O3/25/O8 FREIGHTTERMS UNIT PRICE AMOUNT 2196 0 2"1965O' |21,965.00 | B5O.00 / 22.815.00 {22,815.00 / DA 7°E M VOICE 3/6/2008 2 -12974 ILL T Mark Watson P.O. Box 691 Kennedale, Texas 76060 JOB L C Watson Glass 620 Tower. Road f 7, Date: April 10, 2008 Subject: Staff Announcements/Reports Originated by: Kathy Turner, Secretary EDC Summary: Board of Directors will receive announcements/reports from the following: Zo G 0OP-PI OF ( , 17 Date: April 10, 2008 Agenda item N®: III Subject: President /Board Announcements /Reports Originated y: Kathy Turner, Secretary EDC Summary: Board of Directors will receive announcements /reports from the President and /or Board of Directors: a. President b. Board of Directors RIVI ,�� Date: April 10, 2008 Subject: Executive Session. O riginated by: Mike Soab, EDC Director Summary: Board of Directors 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. a. Subway b. Kennedale Retail Center leasing procedures "Z / 6" - F 1 �1 1027311"011 In" Date: April 15, 2003 Agenda Item Subject: Review and Consideration of Subway lease for Kennedale Retail Center. Subway Real Estate Corp. has submitted a :' lease for the last space in the Kennedale Retail Center. Use will be for a Subway sandwich shop. They are awaiting our comments / approval. Generally, the initial lease term is for 5 years, rents for year 1 are $1,400 monthly, and years 2 -5 are $1,575 monthly. Subway will pay their pro -rata share of taxes, insurance, and CAM. There is no percentage rent. Space is turned over to Subway as -is. Subway will have a 5 -year option to renew @ $1,750 monthly for 2 years and 3 years @ $1,925 monthly. 2. Authorize EDC Executive Director and City Manager Bob Hari t o execute lease • , = t C's (landlord's) beh once lease is in fin 1111111 71 1�1111 11��1111 111111111 11 Executive Session Staff Report Date: April 15, 20CE Agenda Item No: Subject: Review and Consideration of procedures for lease executions in the Kennedale Retail Center (TownCenter Kennedale). 9�� 1 Date: April 10, 2008 SubjeCt: Reconvene into open session and take action necessary pursuant to executive session. Originated by: Kathy Turner, EDC Secretary