2009_12.07 EDC Agenda PacketCITY OF KENNEDALE, TEXAS
OFFICE OF THE CITY SECRETARY
KEDC ROLL CALL
DATE: DECEMBER 7, 2009
START TIME: PM
END TIME: PM
ROLL CALL:
U"4 o
CITY STAFF PRESENT:
PRESENT
ABSENT
PRESIDENT
ROBERT MUNDY -P4
BOARD OF DIRECTOR
BEVERLY HAYES - P3
BOARD OF DIRECTOR
DARRELL ERWIN - PI
BOARD OF DIRECTOR
DOU RG PARKER - P2
VICE - PRESIDENT
P
DONNIE GRAHAM - P5
BOARD OF DIRECTOR
MARK YEARY - P6
/
BOARD OF DIRECTOR
REBECCA MOWELL - P 7
U"4 o
CITY STAFF PRESENT:
PRESENT
ABSENT
CITY MANAGER
BOB HART
CITY SECRETARY
KATHY TURNER
SAKURA M. DEDRICK
DIR. OF FINANCE
NOTICE O F
K ECONOMIC
DEVELOPME r,
B OARD
TEX
Notice is hereby givon that a Regular Meeting will be held by the Kelinedale Economic
Dev clopnjent Corporation Board of Directors on the 7"' clay of December 2009 at 7:15
t'.m iu the Ker)nedale. Municipal Building Council Chambers located at 405 Municipal
Dri v o, Kc )medale, Texas, at which time the following subjects will be discussed to wit;
AGENK��A)
Dated this d` day of December 2009.
By, Rob ert P. Nlun cly, Preside
1, the undersigned authority, do hereby certify that the above Notice of Meeting of
the I :conornic Development Corporation Board of Directors is a true and correct copy of
said Notice and that 1 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 o,c:neral public at all times, and said Notice was posted on December 4, 2009 at 5,30
o'clock PM., 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 (81 7) 985,2104
live (5) work days prior to the meeting so that appropriate arrangements can be made.
By;� ,.
Kathy Turn e, TRMC /CMC'
City Secretary
AGENDA
KENNEDALE ECONOMIC DEVELOPMENT CORPORATION
BOARD OF DIRECTORS
REGULAR MEETING — DECEMBER 7, 2009
405 MUNICIPAL DR. — KENNEDALE MUNICIPAL BLDG.
COUNCIL CHAMBERS
7:15 PM
I. CALL TO ORDER
II. ROLL CALL
III. REGULAR ITEMS
A. Review and consider action to approve regular meeting minutes dated November
17, 2009.
B. Review KEDC Financial Reports.
C. Review and consider action to approve Resolution No. 3, requesting the City
Council issue Certificate of Obligations for the development of
KennedaleTownCenter.
D. Review and consider action to approve amendment to EDC 2009 -2010 Fiscal Year
Budget.
E. Review and consider action to authorize lease of Lot 8, Kennedale TownCenter
Addition to the City.
F. Review and consider action to change date and time of future meetings (January 11
or 12, 2010).
IV. STAFF ANNOUNCEMENTS/REPORTS
A. KEDC Executive Director Announcement/Reports
1. Industrial activity:
• 1000 E. Kennedale Parkway
• Grover Corporation
• Speed Fab -Crete
2. Kennedale TownCenter activity
• Section House
• Public and Private activity development
• Interlocal Agreement for Debt Service Repayment
• Interlocal Agreement for Certificate of Obligations
• Sewer Easement
• Review of Agreements
Page 1 of 2
3. Road Construction Update
• Bowman Springs Road — Excess right -of -way
• Kennedale Sublett Road
• Little School Road
• Dick Price Road
• Mansfield Cardinal Road
4. 16" Water Line Extension
5. Fallen Heroes Monument
B. Orasi Development Report
V. PRESIDENT/BOARD ANNOUNCEMENTS/REPORTS
A. President Announcements/Reports
1. Report agenda items to be posted for future meetings.
VI. ADJOURNMENT
Page 2 of 2
To KEDC Board of Directors
Date: December 2, 2009
Agenda Item No: III -A
Subject: Review and consider approval of meeting minutes.
Originated by: Kathy Turner, KEDC Secretary
Summary: A draft copy of the meeting minutes dated November 17, 2009 is attached for
your review and consideration.
319
KENNEDALE
405 MUNICIP
CORPORATION
)RS
4BER 17, 2009
MUNICIPAL BLDG.
I. CALL TO ORDER
President, Robert Mundy called the meeting to order at 7:18 p.m.
II. ROLL CALL
President Mundy noted that the following board members were present/absent:
Present: Robert Mundy
Donnie Graham
Beverly Hayes
Mark Yeary
Darrell Erwin
Rebecca Mowell
Absent: Doug Parker
President
Vice - President
Board Member
Board Member
Board Member
Board Member
Board Member
Staff members present included:
Bob Hail Executive Director
Sakura Moten - Dedrick Treasurer
III. REGULAR ITEMS
A. Review and consider action to approve regular meeting minutes dated October 20,
2009.
Rebecca Mowell moved to approve regular meeting minutes dated October 20,
2009, second by Mark Yeary. Mowell, Yeary, Graham, Erwin and Mundy voted
aye, with Hayes abstaining. Motion carried (5 -0 -1).
B. Review KEDC Financial Reports.
Sakura Moten - Dedrick, Director of Finance /EDC Treasurer addressed September
EDC Financial reports.
C. Review and consider action to authorize the President to sign a ground lease with
David Johnson for development of the Kennedale TownCenter.
Darrell Erwin moved to authorize President Mundy to sign a ground lease with
David Johnson contingent upon subject areas discussed being resolved, second by
Donnie Graham. Motion carried (6 -0).
320
D. Review financial projections for the development of the Kennedale TownCenter.
Craig Barnes with Shield Engineering addressed grading and drainage of the
Kennedale TownCenter, and Bob Hart, City Manager /Executive Director spoke on
the financial aspects. A question and answer period followed with a request for a
meeting on the g tt ' of December to allow council to consider a request for the
issuance of bonds to fund the project on December 10`
E. Discuss branding and image development campaign for Kennedale.
Bob Hart, City Manager /Executive Director indicated that from the Strategic
Planning Process, it was recommended that task force chairs along with advisory
boards be pulled together to do a branding and image campaign with the ideal of
unveiling a new Kennedale in March 2012.
Hart said a steering committee consisting of EDC and Council members would be
created to start the process in 2010.
F. Discuss development opportunities along Bowman Springs Road.
Bob Hart, City Manager /Executive Director addressed possible business
opportunities in regards to the future re- aligned Bowman Springs Road along with
land uses and traffic generation.
G. Review and consider action to change date and time of future meetings.
A special meeting was scheduled for Monday, December 7"' with regular meeting
scheduled for December 15 on standby.
IV. STAFF ANNOUNCEME NTS/REPORTS
A. KEDC Executive Director Announcement/Reports
Bob Hart, City Manager /Executive Director provided an update on the following:
Industrial activity:
• FWT, Inc. — Major expansion adding 60,000 square feet;
• EMC Electric Contractors — Relocating to Kennedale in the old JetBridge
building;
• H &O Die Supply — Closed on property and relocating to Kennedale in
January 2010;
• Grover Corporation — Business located along Kennedale Parkway, which
manufactures o -rings for big industrial engines;
• North Texas Case Work — Mill and cabinet company who is in the
process of buying property and locating in Kennedale.
2. Kennedale TownCenter activity
Bob Hart, City Manager/Executive Director advised leasing component of
the TownCenter with Quine & Associates ended several months ago, and
management component would terminate at the end of November. Hart
321
indicated all leases were secure and a final report would be received around
the I 01 of December.
3. Village Creek Flood Control Study
Bob Hart, City Manager /Executive Director advised NCTCOG would be
holding a meeting with the U.S. Army Corps of Engineers to discuss a
possible study of the Village Creek Watershed in City Hall on Monday,
November 23` to begin at 2 p.m.
4. Road construction update
Bob Hart, City Manager/Executive Director provided an update on the
following road projects:
(1) Mansfield Cardinal Road — Tarrant County starting repairs on the 2 " half
of roadway;
(2) Dick Price Road — Rebuild the roadway from the railroad tracks south to
the city limit line;
(3) Bowman Springs Road — Bid project out next week, and will award
contract at the January 14 meeting with construction beginning in
March/April 2010;
(4) Sublett Road — In process of buying right -of -way. Bids will go out later
part of summer of 2010, and
(5) Little School Road — Bid in late fall of 2010 or first quarter of 2011.
B. Orasi Development Report
Bob Hart, City Manager /Executive Director reported that Orasi Development has
been actively pursuing a fast food chain to locate on the pad sites in front of Wal-
Mart.
V. PRESIDENT/BOARD ANNOUNCEMENTS/REPORTS
A. President Announcements/Reports
Report agenda items to be posted for future meetings — No items reported.
VI. ADJOURNMENT
There being no further discussion, President Mundy asked for a motion to adjourn.
Mark Yeary so moved, and Rebecca Mowell seconded the motion with all members
present voting in favor. Motion carried (6 -0). Meeting adjourned at 9:35 p.m.
APPROVED:
President, Robert Mundy
ATTEST:
Kathy Turner, EDC Secretary
To the Members of the EDC4B Board
Date: December 7, 2009
Agenda Item No: III -B
PLEASE NOTE THAT BECAUSE THIS MEETING HAS BEEN MOVED UP FROM OUR REGULARLY
SCHEDULED DATE IN LATE DECEMBER, INVESTMENT INCOME AND RENTAL FEES ARE NOT
YET REFLECTED IN THE OCT 09 FINANCIALS PRESENTED IN THIS PACKET. ALTHOUGH WE
ARE STILL IN THE PROCESS OF CLOSING OUT THE MONTH OF OCT 09, WE WANTED TO
PROVIDE DIRECTORS WITH THE LATEST FINANCIAL DATA AVAILABLE AND NOT SKIP A
MONTH. WE WILL RESUME AS NORMAL NEXT MONTH PRESENTING FINANCIALS, WHICH
WILL CONTAIN THE LATEST YTD FIGURES THROUGH NOV 09 FOR INVESTMENT INCOME
AND RENTAL FEES TO INCLUDE OCT 09.
Budget /Amendment
N/A
Year -To -Date
® Sales Tax: See attached charts (Monthly Graph, 3 -Year Historical Graph, 10 -Year Historical
Data). Please note that revenue is much higher this month over this time last year due to the fact
that we are in our year -end audit process and recently completed the required accruals for the
months of Oct and Sep 08 given that sales tax runs 2 months in arrears. The same will be true
this time next year when we compare Oct 09 to Oct 10. Oct 10 will be higher than Oct 09.
® Investment Income: While we have yet to post earnings, given the continued decline of interest
rates, we anticipate that Oct 09 revenues will be lower compared to this time last year.
® Rental Income: No difference compared to this time last year. With the termination of Quine's
contract, we have just received payment for the month Oct 09 in December. Despite this, we
have attached the Oct breakdown for your information. Please see attached Year -To -Date
Summary Report for FY08 -09 provided by Quine & Associates.
® Personnel Costs: EDC Director position was eliminated a few months into last year, and this is
why no expenses are reflected in the current month.
• Supplies: Slight increase in expenses over this time last year. This month included
approximately $6K for aerial maps.
® Service: Significant decrease in expenses over this time last year. Last year included costs tied
to Town Center Plaza. Current expenses include contract payment to Orasi.
• Capital: Slight increase in expenses over this time last year. Both years included payment on
2007 CO; however, this year includes an additional $12K paid out for land acquisition to
Ronnie Nowell and Russ & Christy Seals.
Town Center Redevelopment: Slight increase in expenses over this time last year. This year
includes approximately $1500 paid to Shrickel, Rollins & Associates for architect services.
Estimate
N/A
Operating Expenditures
Operating Income /(Loss)
Nonoperating Revenues /(Expenses)
Interest Earnings
Transfers -In
(Transfers -Out)
(521,324
20,000
(10,000)
(62,648) (62,648)
$ (42,99 $ (42,990
Net Operating Income/ (Loss) (511,324) (42,990) (42,990)
Beginning Fund Balance (as of Oct. 1st) 1,703,827
Ending Fund Balance
Ending Fund Balance (Excluding Reserve Bond Fund 95)
$ 1,660,837
118,482
$ 1,542,355
n
AwK
k. o
FY08 -09 FY08 -09 YTD
10/1/2008 Octob -08
FUND BALANCE CARRY FORWARD:I
1 ,215,833 I 1,215.833 I
19,657 6.08%
REVENUE
20,000
����� SALES TAXES
298,682 84
INVESTMENT EARNINGS
9,691 1,988
FUND 95 INVESTMENT EARNINGS
- °
RENTAL INCOME
237,518
OTHER INCOME
481,136
TRANSFERSIN
-
FY09 -10 FY09.10 YTD
PERCENT 10/1/2009 October -09 PERCENT
9 703 827 1 703 827
0.03%
323,571
19,657 6.08%
20.51%
20,000
- 0.00%
0.00%
-
0.00%
0.00%
243,600
0.00%
0.00%
-
0.00%
0.00%
797
0.00%
TOTAL EDC REVENUES $ 1,027,027 $ 2,072 0.20 $ 587,171 $ 99,657 3.35%
EXPENSES
PERSONNEL COSTS
42,794
6,324
14.78%
-
-
#DIV 101
SUPPLIES
5,932
797
13.44%
29,300
5,815
19.85%
MAINTENANCE
-
-
#DIV /01
-
-
#DIV /01
SERVICE
248,227
29,947
12.06%
200,137
3,791
1.89%
UTILITIES
294
0.00%
#DIV /01
GRANTS / INCENTIVES
36,417
-
0.00%
50,000
0.00%
TOWNCENTER
48,094
4,330
9.00%
45,750
0.00%
CAPITAL
111,309
40,652
36.52%
563,308
51,534
9.15%
TRANSFER OUT
0100%
10,000
0.00%
TOWN CENTER REDEVELOPMENT
45,966
200,000
1,508
0.75%
TOTAL EDC EXPENDITURES $
539,033
$ 82,050
15.22%
`- 1,098,495
62,648
5.70%
REVENUES IN EXCESS OF EXPENSES
487,994
(79,978)
(511,324)
(42,990)
ENDING FUND BALANCE: 1
1,703,827
1,135,855
1,192,503
1,660,837
MINUS RESERVE BOND FUND
118,482
118,482
118,482
118,482
FUND BALANCE (EXCLUDING FUND 95)
1,585,345
1,017,373
1,074,021
1,542,355
W i l li
ACCOUNT ACCT NAME
004 -00 -87
4001 -00 -00 PROPERTY TAX- CURRENT YR
4081 -00 -00 SALES TAX
4082 -00 -00 MIXED BEVRG SALES TAX
4401 -00 -00 INVESTMENT INCOME
4401 -00 -00 INVESTMENT INCOME (FUND 95)
4409 -00 -00 MISCELLANEOUS INCOME
4415 -00 -00 INSURANCE REIMBURSEMENT
4805 -01 -00 RENTAL FEES - SHOPPING CTR
4902 -00 -00 PROCEEDS -DEBT ISSUANCE
FY08 -09
FY08 -09 YTD
3,907
FY9 -10
FY09 -10 YTD
-
ESTIMATE
October -08
PERCENT
BUDGET
October -09
PERCENT
-
-
#DIV /01
-
-
#DIV /01
298,682
84
0.03%
323,571
19,657
6.08%
-
0
#DIV /01
-
-
#DIV/01
9,691
1,988
20.51%
20,000
-
0.00%
-
-
#DIV /01
-
-
#DIV /01
127,058
2,598
0.00%
12.17%
-
#DIV /01
354,078
5118 -01 -00 HOSPITALIZATION /LIFE INSURANCE
0.00%
-
-
#DIV /01
237,518
#DIV /01
0.00%
243,600
-
0.00%
-
-
#DIV /01
-
-
#DIV /01
REVENUES 1,027,027 2,072 0.20% 587,171 19,657 3.36%
5101 -01 -00 SALARIES ADMINISTRATIVE
32,502
3,907
12.02%
-
#DIV 101
5107 -01 -00 SALARIES- OVERTIME
-
-
#DIV/01
-
#DIV /01
5111 -01 -00 MOTOR VEHICLE ALLOWANCE
1,278
228
17.80%
-
#DIV /01
5114 -01 -00 LONGEVITY
184
-
0.00%
-
#DIV /01
5115 -01 -00 TMRS RETIREMENT SYSTEM
3,871
667
• 17.23%
-
#DIV/01
5116 -01 -00 UNEMPLOYMENT INSURANCE
108
-
0,00%
-
#DIV /01
5117 -01 -00 FICA BENEFITS
2,598
316
12.17%
-
#DIV/01
5118 -01 -00 HOSPITALIZATION /LIFE INSURANCE
2,071
1,116
53.89%
-
#DIV /01
5120 -01 -00 LIFE INSURANCE
58
29
49.66%
-
#DIV /01
5121 -01 -00 DENTAL
95
47
49.94%
-
#DlVrol
5122 -01 -00 VISION INSURANCE
29
14
49.38%
-
#DIV /01
5190 -01 -00 SALARIES OTHER
-
-
#DIV /01
-
#DIV /01
PERSONNEL
42,794
6,324
14.78%
-
#DIV /01
5220 -01 -00 UNIFORMS
-
-
#DIV /01
300
-
0.00%
5240 -01 -00 PRINTED SUPPLY
4,449
476
10.71%
25,000
5,815
23.26%
5260 -01 -00 GENERAL OFFICE SUPPLIES
332
225
67.91%
500
-
0.00^/
5261 -01 -00 POSTAGE AND REIMBURSEMENT
128
3
2.72%
1,000
-
0.00%
5280 -01 -00 MINOR EQUIPMENT
-
-
#DIV /01
1,000
-
0.00%
5290 -01 -00 EXPENDABLE SUPPLY
1,023
92
6.97%
1,500
-
0.00%
SUPPLIES
5,932
797
13.44%
29,300
5,815
19.86%
5403 -01 -00 BUILDING MAINTENANCE
-
-
-
5440 -01 -00 OFFICE EQUIPMENT MAINTENANCE
#DN/ol
-
#DIV /01
MAINTENANCE
-
#DN/01
-
#DIVlol
5501 -01 -00 ADVERTISING
789
0.00%
11,000
-
0.00%
5510 -01 -00 ASSOC DUES /PUBLICATIONS /MEET
334
22
6.59%
1,000
-
0.00%
5512 -01 -00 CONTRACTUAL SERVICES
121,854
29,898
24.54%
-
-
#1
5525 -01 -00 TRAINING /SEMINARS
430
-
0.00%
2,500
-
0.00%
5565 -01 -00 LEGAL SERVICE -CITY ATTORNEY
27,340
0.00%
40,000
-
0.00%
5567 -01 -00 AUDIT SERVICES
3,000
0.00%
4,000
-
0.00%
5569 -01 -00 IT SUPPORT
-
#DIV /01
-
-
#DIV /01
5570 -01 -00 SPECIAL SERVICES
27,870
0.00%
78,920
3,791
4.80%
5575 -01 -00 EQUIPMENT RENTAL
-
#DIV /01
-
-
#DIV/01
5578 -01 -00 TRAVEL
284
27
9.51%
6,000
0.001,
5580 -01 -00 ENGINEERING SERVICES
-
-
#DIV/01
-
#DIV /01
5595 -01 -00 ADMIN SERVICE CHARGE
66,326
0.00%
56,717
0.00%
5625 -01 -00 ISSUANCE COST
-
#DN/ol
#DIV /01
SERVICE
248,227
29,947
12.08%
200,137
3,791
1.89%
5585 -01 -00 TELEPHONE SERVICE
294
-
0.00%
-
#DIV /01
UTILITIES
294
0.00%
-
-
#1311
5610 -01 -00 VISUAL GRANT
36,417
0.00%
50,000
0.00^/
5615 -01 -00 FUNCTIONAL GRANT
-
#DIV /01
#DIV /01
• GRANTS / INCENTIVES
36,417
0.00%
50,000
0.00i>
TOWNCENTER EXPENSES
48,094
4,330
9.00%
45,750
0.00%
12/3/20097:32 PM
ACCOUNT ACCT NAME
004 -00 -87
5621 -01 -03 COST OF ISSUANCE
5643 -01 -03 2007 CO INTEREST EDC
5644 -01 -03 2007 CO PRINCIPAL INTEREST
5800 -01 -00 LAND
5810 -01 -00 EDC ALTERNATE ROUTE- ENGINEERING
5811 -01 -00 DESIGN -NEW HOPE RD 12" WLINE
5813 -01 -00 KENNEDALE ENTRANCE SIGN
5820 -01 -00 BUILDING IMPROVEMENT
5861 -01 -00 MOTOR VEHICLES
CAPITAL
FY08 -09
FY08.09 YTD
FY9 -10
FY09 -10 YTD
ESTIMATE
October-08
PERCENT
BUDGET
October-09
PERCENT
-
-
#DIV /01
-
#DIV /01
81,309
40,652
50.00%
79,230
39,534
49.90/
30,000
-
0.00%
35,000
-
0,00%
-
#DIV /01
25,000
12,000
48.00%
-
-
#DIV /01
-
-
#DIV /01
#DIV /01
-
-
#DIV /01
#DIV /01
45,000
-
0.00%
#DIV /01
379,078
-
0.00%
#DIV /01
#DIV 101
111,309
40,652
36.52%
563,308
51,534
9.15%
5701 -01 -00 TRANSFER OUT - GENERAL FUND #DIV /01 10,000 - 0.00%
5714 -01 -00 TRANSFER OUT -PARK DEDICATION #DIV 101 - - #DIV /0I
TRANSFERS #DIV101 10,000 - 0.00%
5570 -03 -00 SPECIAL SERVICES 18,370 0.00% 100,000 - 0.00%
5579 -03 -00 ARCHITECT /DESIGN SERVICES 13,832 0.00% 75,000 1,508 2.01%
5580 -03 -00 ENGINEERING SERVICES 13,764 0,00% 25,000 - 0.00%
TOWN CENTER REDEVELOPMENT 45,966 0.00% 200,000 1,508 0.76%
TOTAL EDC EXPENDITURES $ 539,033 $ 82,050 15.22% $ 1,098,495 $ 62,648 5.70%
12/3/20097:32 PM
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Cash Flow (Cash) Page 1
TownCenter Keneedale - (KEN) KEN
Oct 2009 11/19/2009
12:29 PM
Prepared For: Prepared By:
KENNEDALE ECONOMIC DEVELOPMENT COR QUINE & ASSOCIATES, INC.
405 MUNICIPAL DR PO BOX 833009
KENNEDALE, TX 76060 RICHARDSON, TX 75083 -3009
UAT93010iii�14r•10
Partner's Distribution
Month to Date _
_ % _
Year t Date
%
INCOME
Beginning Cash
18,928.92
Ending Balance
19,371.91
Rental Income
16,568.00
85.32
161,952.50
82.29
% Rental Income
0.00
0.00
5,989.59
3.04
Tax Escrows
1,696.00
8.73
16,960.00
8.62
Insurance Escrows
115.00
0.59
1,150.00
0.58
CAM Escrows
1,040.00
5.36
10,179.50
5.17
PR YR Insurance Income
0.00
0.00
586.77
_ 0.3
TOTAL INCOME
19,419.00
100.00
196,818.36
100.00
EXPENSES
General & Administrative
Property Management
776.76
4.00
7,87233
4.00
Office Expenses
0.00
0.00
52.14
0.03
Rental Commissions
0.00
0.00
2,700.00
1.37
Electricity -CAM
224.56
1.16
3,193.78
1.62
Sweeping - CAM
300.00
1.54
2,857.50
1.45
Porter Service -CAM
90.00
0.46
654.98
0.33
Landscape - CAM
320.00
1.65
3,200.00
1.63
Fire Sprinkler /Alarm - CAM
150.00
0.77
600.00
0.30
3rd Surface Repair -CAM
0.00
0.00
7,500.00
3.81
Asphalt -CAM
0.00
0.00
4,306.00
2.19
Elec. Supplies - CAM
60.39
0.31
2,367.96
1.20
Mntc. Supplies - CAM
0.00
0.00
300.00
0.15
Roofing Repair
625.38
3.22
2,216.07
1.13
R & M - CAM
0.
_ _ 0.00 ____._._,_
70.
0.0
Total General & Admin
2,547.09
13.12
37,881.52
19.25
TOTAL EXPENSE
2,547.09
13.12
37,881.52
19.25
NET PROFIT /LOSS
16,871.91
86.88
158,936.84
80.75
UAT93010iii�14r•10
Partner's Distribution
_ _ 16,428.92 - 177,762.4
TOTAL ADJUSTMENTS
- 16,428.92 - 177,762.43
CASH FLOW
442.99 - 18,825.59
Beginning Cash
18,928.92
Ending Balance
19,371.91
To KEDC Board of Directors
Date: December 5, 2009
Agenda Item No: III. -C
Subject: Review and consider action to approve Resolution No. 3, requesting the City
Council to Issue Certificate of Obligations for the development of Kennedale
TownCenter.
Originated by: Bob Hart, City Manager /Executive Director
Summary: Staff has received engineering estimates for the TownCenter and discussed
them with our financial advisors and bond attorneys. The estimates and
allocation of work is such that we will be able to do all the work necessary on
the TownCenter at one time: all parking, building fagade, sidewalks, lighting,
landscaping, and the section house. The TownCenter was purchased with
taxable bonds. Because this work is a combination of public and private
activity elements, we will be in a position to issue Certificates of Obligations
and repay the debt with sales tax. This accomplishes two things — first, we
get a lower interest rate and two, we will not be required to have a reserve
fund, which means more funds are available for construction. Consequently,
a resolution has been placed on the agenda requesting the city council
issues COs for the TownCenter. The city council will consider a resolution
authorizing the issuance of COs on Thursday. Using this financing format will
require the EDC to lease the lot 8 to the city; and execute two interlocal
agreements for receiving the CO funds and repaying the debt.
Recommendation: Staff recommend approval of Resolution No. 3 requesting the City
Council issue Certificate of Obligations for the development of
the Kennedale TownCenter.
A RESOLUTION
CERTIFICATE OF
TOWNCENTER.
REQUESTING THE CITY COUNCIL ISSUE
OBLIGATIONS TO FINANCE THE KENNEDALE
WHEREAS, the Kennedale Economic Development Corporation has planned to develop
a TownCenter to encourage development and create community cohesion;
WHEREAS, the Kennedale Economic Development Corporation has acquired
appropriate property to utilize for the TownCenter;
WHEREAS, the Kennedale Economic Development Corporation has selected an
individual to serve as the developer of this project;
WHEREAS, the best financing tool is a tax exempt debt instrument as opposed to an
EDC sales tax - backed bond;
AND WHEREAS, Certificate of Obligations have been considered and found to be the
most appropriate financing tool;
NOW, THEREFORE, BE IT RESOLVED BY THE KENNEDALE ECONOMIC
DEVELOPMENT CORPORATION, KENNEDALE, TEXAS:
f!
The Kennedale Economic Development Corporation hereby requests the city council authorize
the issuance of Certificate of Obligations in order to complete the development of the
TownCenter. In supporting this resolution, the KEDC agrees to enter into a interlocal agreement
with the city for repayment of the debt and to lease Lot 8, Kennedale TownCenter Addition to
the city.
PASSED AND ADOPTED this 7 th day of December 2009.
President, Robert P. Mundy
ATTEST;
Kathy Turner, City Secretary
�/ — L0 '
IO
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41
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.,
m
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s
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'. - !;_"ai_? . mac •' .. � �i
*** THIS ESTIMATE HAS BEEN COMPLETED ON LIMITED INFORMATION AND SHOULD BE USED
**° FOR PROJECT EVALUATION ONLY. PRIOR TO MAKING FINANCIAL COMMITMENTS BASED ON * **
`** THIS ESTIMATE, THESE NUMBERS SHOULD BE VERIFIED. * *'
A. WATER DISTRIBUTION SYSTEM
DESCRIPTION
UNIT
APPROXIMATE QUANTITY
TOTAL I PUBLIC PRIVATE
PROJECTNAME.
KennedaleTownCenter
CITY. •
Kennedale, Texas
DATE.
11116109
FILENAME;
QTO 20091115.xls
A. WATER DISTRIBUTION SYSTEM
DESCRIPTION
UNIT
APPROXIMATE QUANTITY
TOTAL I PUBLIC PRIVATE
I UNIT
PRICE
TOTAL
I AMOUNT
TOTAL
PUBLIC
TOTAL
PRIVATE
8" P.V.C. WATERLINE
LF
345
305
40
$30.00
$10,350.00
$9,150.00
$1,200.00
8" GATE VALVE & BOX
EA
4
2
2
$900.00
$3,600.00
$1,800.00
$1,800.00
CONNECTTO EXISTING WATER LINE
EA
4
1
3
$1,000.00
$4,000.00
$1,000.00
$3,000.00
FIRE HYDRANT
EA
3
1
2
$3,000.00
$9,000.00
$3,000.00
$6,000.00
3/4" SINGLE WATER SERVICE LINE
LF
618
125
493
$15.00
$9,270.00
$1,875.00
$7,395.00
DOMESTIC WATER METER
EA
81
2
6
$580.00
$4,640.00
$1,160.00
$3,480.00
IRRIGATION WATER METER
EA
5
1
4
$580.00
$2,900.00
$580.00
$2,320.00
TRENCH SAFETY I
LF
345
305
40
$1.00
$345.00
$305.00
$40.00
MISC. UTILITY ADJUSTMENTS
EA
5
5
0
$500.00
$2,500.00
$2,500,00
$0.00
SUB - TOTAL WATER DISTRIBUTION SYSTEM $46,605.00
$21,370.00
$25,23100
S. SANITARY SEWER SYSTEM
DESCRIPTION
UNIT
APPROXIMATEQUANTITY
TOTAL PUBLIC PRIVATE
UNIT
PRICE
TOTAL
AMOUNT
TOTAL
PUBLIC
TOTAL
PRIVATE
6" SDR -35 P.V.C. PIPE
LF
740
740
0
$25.00
$18,500.00
$18,500.00
$0.00
4" SERVICE LINES
LF
340
100
240
$20.00
$6,800.00
$2,000.00
$4,800.00
4' DIAMETER MANHOLE
EA
3
3
0
$3,000.00
$9,000.00
$9,000.00
$0.00
4' MANHOLE OVER EXISTING LINE
EA
2
1
1
$5,000.00
$10,000.00
$5,000.00
$5,000.00
CLEANOUT
EA
8
2
6
$750.00
$6,000.00
$1,500.00
$4,500.00
GREASE TRAP (1000 GAL)
EA
8
0
8
$2,500.00
$20,000.00
$0.00
$20,000.00
TRENCH SAFETY
LF
740
740
0
$1.00
$740.00
$740.00
$0.00
MISC UTILITY ADJUSTMENTS
EA
4
4
0
$500.00
$2,000.00
$2,000.00
$0.00
SUB - TOTAL SANITARY SEWER SYSTEM $73,040.00
$38,740.00
$34,300.00
Shield Engineering Group, PLLC.
Confidential
C. \Craig 1 \Desktop \temp from buff drive \Kennedale \calcs\20091115 QTO Page 1 of 4
*** THIS ESTIMATE HAS BEEN COMPLETED ON LIMITED INFORMATION AND SHOULD BE USED * *•
**• FOR PROJECT EVALUATION ONLY. PRIOR TO MAKING FINANCIAL COMMITMENTS BASED ON * **
— THIS ESTIMATE, THESE NUMBERS SHOULD BE VERIFIED, '-
C. STORM SEWER SYSTEM
PROJECT NAME:
Kennedale TownCenter
APPROXIMATEQUANTITY
TOTAL PUBLIC PRIVATE
CITY. •
Kennedale, Texas
DATE:
11116109
FILENAME:
QTO 20091115.x1s
C. STORM SEWER SYSTEM
DESCRIPTION
UNIT
APPROXIMATEQUANTITY
TOTAL PUBLIC PRIVATE
UNIT
PRICE
TOTAL
I AMOUNT
TOTAL
PUBLIC
TOTAL
PRIVATE
STORM DRAIN DEMO
LS
1
1
0
$10,000.00
$10,000.00
$10,000.00
$0.00
1S "R.C.P.
LF
200
50
150
$36.00
$7,200.00
$1,800.00
$5,400.00
24" R.C.P.
LF
500
125
375
$48.00
$24,000.00
$6,000.00
$18,000.00
V INLET
EA
5
1,25
3.75
$2,500.00
$12,500.00
$3,125.00
$9,375.00
STORM SEWER MANHOLE
EA
2
0.50
1.50
$4,500.00
$9,000.00
$2,250.00
$6,750.00
CONNECT TO EXISTING STORM LINE
EA
1
0.25
0.75
$2,500.00
$2,500.00
$625.00
$1,875.00
CONNECT TO EXISTING TXDOT INLETS
EA
4
0
4
$$,000.00
$20,000.00
$0.00
$20,000.00
24" HEADWALL
EA
1
0.25
0.75
$3,000.00
$3,000.00
$750.00
$2,250.00
12" ROCK RIP -RAP
SY
20
5
15
$75,00
$1,500.00
$375.00
$1,125.00
TRENCH SAFETY
LF
700
175
525
$1.00
$700.00
$175.00
$525.00
SUB - TOTAL STORM SEWER SYSTEM $90,400,00
$25,100,00
$65,300.00
D.PAVING
DESCRIPTION
UNIT
APPROXIMATE QUANTITY
TOTAL I PUBLIC PRIVATE
UNIT
PRICE
TOTAL
AMOUNT
TOTAL
PUBLIC
TOTAL
PRIVATE
6" REINF. CONCRETE STREET PAVEMENT
SY
16,967
6,063
10,904
$30.00
$509,006.98
$181,890.00
$327,116.98
ADDL FOR COLORED AND TEXTURED CONC PAVEMEN
SY
1,617
1,617
0
$80.00
$129,360.00
$129,360.00
$0.00
6" SUBGRADE PREPARATION COMPACTION ONLY)
SY
17,389
6,509
1000
$2.00
$34,778.26
$13,018.00
$21,760.26
6" CONCRETE CURB
LF
7,755
3,006
4,749
$3.30
$25,591.50
$9,919.80
$15,671.70
5 SIDEWALK
SF
15,000
15,000
0
$4.00
$60,000.00
$60,000,00
$0.00
SIDEWALK RAMPS
EA
30
20
10
$1,035.00
$31,050.00
$20,700.00
$10,350.00
REMOVE AND HAUL OFF EXISTING ASPHALT PAVEMEN
SY
14,362
5,134
9,248
$8.00
$115,056.30
$41,072.00
$73,984.30
PAVEMENT STRIPING
LF
6,600
3,370
3,230
$4.20
$27,720.00
$14,154.00
$13,566.00
FIRELANE STRIPING
LF
4,900
2,000
2,900
$4.20
$20,580.00
$8,400.00
$12,180.00
SUB - PAVING $953,143.04
$478,513.80
$474,629.24
Shield Engineering Group, PLLC.
Confidential
C: \Users \Craig 1 \Desktop\temp from buff drive\Kennedale\calcs\20091115 OTO Page 2 of 4
1 � ,
* ** THIS ESTIMATE HAS BEEN COMPLETED ON LIMITED INFORMATION AND SHOULD BE USED °t
* ** FOR PROJECT EVALUATION ONLY. PRIOR TO MAKING FINANCIAL COMMITMENTS BASED ON
THIS ESTIMATE, THESE NUMBERS SHOULD BE VERIFIED. ``*
PROdECTNAME:
KennedaleTownCenter
CITY:
Kennedale, Texas
DATE:
11/16109
FILENAME:
QTO 20091115.xls
DESCRIPTION I UNIT I TOTAL I PUBLIC I PRIVATE) PRICE I AMOUNT ( PUBLIC I PRIVATE
ATE
(STRIP AND STOCKPILE 6" TOPSOIL 1 CY 1 2.7601 7301 2.0301 $3.001 $8,280.001 $2,190,001 $6,090.001
-TOTAL EXCAVATION
G. OTHER ITEMS TO CONSIDER
DESCRIPTION
UNIT
APPROXIMATE QUANTITY
TOTAL PUBLIC PRIVATE
UNIT
PRICE
TOTAL
AMOUNT
TOTAL
PUBLIC
TOTAL
PRIVATE
$25,100.00
$65,30D.00
D. PAVING $953,143.04
LANDSCAPE & IRRIGATION ALLOWANCE
LS
1
0.25
0.75
$25,000.00
$25,000.00
$6,250.00
$18,750.00
TRAFFIC CONTROL ALLOWANCE
LS
1
1
0
$15,000.00
$15,000.00
$15,000.00
$0.00
SWPPP ALLOWANCE
LS
1
0.25
0.75
$45,000.00
$45,000.00
$11,250.00
$33,750.00
GAS CONDUIT
LF
460
0
460
$12.00
$5,520.00
$0.00
$5,520.00
ELECTRIC CONDUIT
LF
3,200
870
2,330
$12.00
$38,400.00
$10,440.00
$27,960.00
DUMSTER COURTS
EA
5
1
4
$7,500.00
$37,500.00
$7,500,00
$30,000.00
UTILITY COURTS
EA
21
0
2
$7,500.00
$15,000.00
$0.00
$15,000.00
TRANSFORMER
EA
5
1.25
3.75
$10,000.00
$50,000.00
$12,500.00
$37,500.00
MONUMENT SIGN
EA
3
1
2
$10,000,00
$30,000.00
$10,000.00
$20,000.00
WATER TOWER
LS
1
0
1
$30,000.00
$30,000.00
1 $0.00
$30,000.00
RELOCATE OVERHEAD UTILITY UNDERGROUND
LS
1,350
1,350
0
$475.00
$641,250.00
$641,250.00
$0.00
RELOCATE AND RESTORE HISTORIC SECTION HOUSE
LS
1
1
0 1$369,000.00
$369,000.00
$369,000.00
$0.00
LIGHTING
LS
1
0.25
0.75 1$160,000.00
$150,000.00
$37,500.00
$112,500.00
SUSTAINABILITY GRANT LOCAL MATCH
LS
1
1,00
0.00
$197,944.00
$197,944.00
$197,944.00
$0.00
DEBT RESERVE FUND BALANCE
LS
1
1.00
0.00
$115,000.00
$115,000.00
$115,000,00
$0.00
DEBT ISSUANCE COST
LS
1
1.00
0.00
$52,500.00
$52,500.00
$52,500.00
$0.00
SUB - TOTAL MISCELLANEOUS ITEMS $1,817,114,00
$1,486,134.00
$330,960.00
SUMMARY
A. WATER DISTRIBUTION SYSTEM $46,605.00
$21,370.00
$25,235.00
B. SANITARY SEWER SYSTEM $73,040.00
$38,740.00
$34,300,00
C. STORM SEWER SYSTEM $90,400.00
$25,100.00
$65,30D.00
D. PAVING $953,143.04
$478,513.80
$474,629.24
E. EXCAVATION $45 780,00
$11,565.00
$34,215,00
G. MISCELLANEOUS ITEMS $1,817,114.00
$1,486,134.00
$330,980.00
Shield Engineering Group, PLLC.
Confidential
CAUsers \Craig 1 \Desktop \temp from buff drive \Kennedalelcalcs\20091115 QTQ
Page 3 of 4
THIS ESTIMATE HAS BEEN COMPLETED ON LIMITED INFORMATION AND SHOULD BE USED `"
FOR PROJECT EVALUATION ONLY. PRIOR TO MAKING FINANCIAL COMMITMENTS BASED ON
"` THIS ESTIMATE, THESE NUMBERS SHOULD BE VERIFIED. `"
PROJECTNAME:
KennedaleTownCenter
CITY:
Ifennedale, Texas
DATE
11116109
FILENAME.
QTO 20091115.xfs
SUB - TOTAL:
ENGINEERING AND INSPECTION FEES:
TOTAL CONSTRUCTION COSTS:
Shield Engineering Group, PLLC.'
Confidential
C , .\ Users \Craig 1 \Desktop \temp from buff drive\Kennedaie \caics\20091115 OTO
$3,026,082.04 $2,061,422.80 $964,659.24
12% $363,129.84 $247,370.74 $115,759.11
$3,389,211.88 $2,308,793.54 $1,080,418.35
Page 4 of 4
Annual
Debt
Service
142,500
139,750
142,000
139,000
141,000
142,750
139,250
140,750
142,000
138,000
139,000
139,750
140,250
140,500
140,500
140,250
139,750
139,000
Nov 20, 2009 2:15 pm Prepared by Southwest Securities Page 1
BOND DEBT SERVICE
City of Kennedale, Texas
Certificates of Obligation, Series 2010
Dated Date
05/01/2010
Delivery Date
05101/2010
Period
Debt
Ending
Principal
Coupon
Interest
Service
11/01 12010
43,750
43,750
05/01/2011
55,000
5.000%
43,750
98,750
09/30/2011
11/01/2011
42,375
42,375
05/01/2012
55,000
5.000%
42,375
97,375
09/30/2012
11/01/2012
41,000
41,000
05101/2013
60,000
5.000%
41,000
101,000
09/30/2013
11/01/2013
39,500
39,500
05/01/2014
60,000
5.000%
39,500
99,500
09/30/2014
11/01/2014
38,000
38,000
05/01/2015
65,000
5.000%
38,000
103,000
09/30/2015
11/01/2015
36,375
36,375
05101/2016
70,000
5.000%
36,375
106,375
09/30/2016
11/01/2016
34,625
34,625
05/01/2017
70,000
5.000%
34,625
104,625
09/30/2017
11/01/2017
32,875
32,875
05/01/2018
75,000
5.000%
32,875
107,875
09/30/2018
11/01/2018
31,000
31,000
05/01/2019
80,000
5.000%
31,000
111,000
09/30/2019
11/01/2019
29,000
29,000
05/01/2020
80,000
5.000%
29,000
109,000
09/30/2020
11/01/2020
27,000
27,000
05/01/2021
85,000
5.000%
27,000
112,000
09/30/2021
11 /01/2021
24,875
24,875
05/01/2022
90,000
5.000%
24,875
114,875
09/30/2022
11/01/2022
22,625
22,625
05/01/2023
95,000
5.000%
22,625
117,625
09130/2023
11/01/2023
20,250
20,250
05/01/2024
100,000
5.000%
20,250
120,250
09/30/2024
11/01/2024
17,750
17,750
05/01/2025
105,000
5.000%
17,750
122,750
09/30/2025
11/01/2025
15,125
15,125
05/01/2026
I10,000
5,000%
15,125
125,125
09/30/2026
11/01/2026
12,375
12,375
05/01/2027
115,000
5.000%
12,375
127,375
09/30/2027
11/01/2027
9,500
9,500
05/01/2028
120,000
5.000%
9,500
129,500
09/30/2028
11/01/2028
6,500
6,500
05/01/2029
125,000
5,000%
6,500
131,500
Annual
Debt
Service
142,500
139,750
142,000
139,000
141,000
142,750
139,250
140,750
142,000
138,000
139,000
139,750
140,250
140,500
140,500
140,250
139,750
139,000
Nov 20, 2009 2:15 pm Prepared by Southwest Securities Page 1
Nov 20, 2009 2;15 pm Prepared by Southwest Securities Page 2
BOND DEBT SERVICE
City of Kennedale, Texas
Certificates of Obligation, Series 2010
Annual
Period
Debt
Debt
Ending
Principal Coupon Interest
Service
Service
09/30/2029
138,000
11/0112029
3,375
3,375
05/01/2030
135,000 5,000% 3,375
138,375
09/3012030
141,750
1,750,000 1,055,750
2,805,750.
2,805,750
Nov 20, 2009 2;15 pm Prepared by Southwest Securities Page 2
To KEDC Board of Directors
Date: December 5, 2009
�. _ - mms
Subject: Review and consider action to approve amendment to EDC 2009 -10 FY Budget.
Originated by: Bob Hart, City Manager /Executive Director
Summary: With the issuance of a debt instrument for the TownCenter, the city and EDC
will need to demonstrate the ability to repay the debt. The 2009 -10 adopted
budget will not do so; hence it needs to be amended. Staff has prepared a
recommended budget and projected financial for your consideration.
Recommendation: Approve the amended budget as presented.
Disposition by KEDC Board of Directors:
ki A
�rj
Page 1 of 1
CITY OF KENNEDALF TEXAS
ANNUAL PROGRAM OF SERVICES
PROJECTION SUMMARY
15: EDC413 FUND
FY09.10
FY10.11
FYII.12
FY12.13
FY13.14
FY14.15
FYIS -16
ACCOUNT NAME
PROPOSED PROJECTED PROJECTED PROJECTED PROJECTED PROJECTED PROJECTED
BEGINNING FUND BALANCE
$ 1,585,351 $
387,427 $
482,498 $
504,250 $
515,505 $
523,732 $
528,663
SALES TAX (1%ANNUALINCREASE BEG FYI 1 /12)
323,571
323,571
326,807
330,075
333,376
336,709
340,076
INVESTMENT EARNINGS
20, 000
20,000
20,000
20,000
20,000
20,000
20,000
DEBTSERVICE
(139,230)
(257,730)
(257,730)
(257,730)
(257,730)
(257,730)
(257,730)
2007 SALES TAX NOTE
(114,230)
(114,230)
(114,230)
(114,230)
(114,230)
(114,230)
(114,230)
2010$1.75M CO BOND PUBLIC IMPROVEMENTS (TRANSFER TO GF)
(25,000)
(143,500)
(143,500)
(143,500)
(143,500)
(143,500)
(143,500)
SHOPPING CENTER - RENTAL INCOME
205,044
199,094
143,586
135,000
135,000
135,000
135,000
SUBWAY ($1575 MONTH, MOVE JUL 2011)
18,900
15,750
-
-
-
-
ACE HARDWARE ($1400 MONTH, MOVE JUL 201 1)
16,800
14,000
-
CHICKEN EXPRESS ($2862 MONTH, GOES AWAY JAN 2012)
34,344
34,344
81586
-
-
DOLLAR GENERAL ($3750 MONTH, JUL'2012 RENEW OPTION)
45,000
45,000
45,000
45,000
45,000
45,000
45,000
SURPLUS WAREHOUSE ($7500 MONTH, MAY 2011 RENEW OPTION)
90,000
90,OD0
90,000
90,000
90,000
90,000
90,000
SHOPPING CENTER -CAM EXPENSES
(45,750)
(45,750)
(45,750)
(45,750)
(45,750)
(45,750)
(45,750)
MMD ASSESSMENTS (BASED ON VALUE OF $B26,108,$2,840677 PER $100)
-
23,467
23,467
.467
4 7
x,467
ry
23,467 ((
�✓ 'y
RECURRING: EDC OPERATIONAL EXPENSES (5% ANNUAL INCREASE)
(156,482)
(163,414)
(163,627)
(168,807)
(175,135)
(181,766)
(188,715)
PERSONNEL
-
SUPPLIES
(24,300)
(25,515)
(26,791)
(28,130)
(29,537)
(31,014)
(32,564)
MAINTENANCE
-
-
SUNDRY (ADMIN CHARGE SEPARATED OUT BELOW)
(79,320)
(83,286)
(87,450)
(91,823)
(96,414)
(101,235)
(106,296)
ADMIN CHARGE TO GF (107 TOTAL REVENUE, EXCLUDE INTEREST)
(52,862)
(54,613)
(49,386)
(48,854)
(49,184)
(49,518)
(49,854)
DEBT
-
TRANSFERS
-
CAPITAL
-
ONE -TIME: EDC OPERATIONAL [EXPENSES
(490,078)
-
PERSONNEL
-
-
SUPPLIES
-
MAINTENANCE
-
SUNDRY (LEGAL 35K, BRANDING 40K)
(75,000)
-
-
DEBT
-
-
TRANSFERS (SECTION HOUSE)
(1,000)
-
-
CAPITAL (45K SIGNS, 15K QUIKTRIP, 354K ROOFS)
(414,078)
-
-
-
-
-
-
TOTAL REVENUES
$ 540ALS $
566,132 $
513,860 $
508,542 $
511,843 $
515,176 $
518,543
TOTAL EXPENSES
40
(466,894) $
(467,107) $
(472,287) $
(478,615) $
(485,246) $
(492,195)
REVENUES OVER EXPENDITURES S
,
$ (28 925) $
99,238 $
46,753 $
36,254 $
33,228 $
29,930 $
26,348
ENDING FUND BALANCE (SUBTOTAL)
$ 1,302,427 $
486,664 $
529,250 $
540,505 $
548,732 $
553,663 $
555,011
PRIVATE IMPROVEMENTS
(800,000)
-
-
-
-
-
-
RESERVE FUND BALANCE
(115,000)
ACE & SUBWAY SUBSIDY /OFFSET RENT MOVE INCREASE ($25K, 8 YEARS)
-
(4,167)
(25,000)
(25,000)
(25,000)
(25,000)
(25,000)
CITY OF KENNEDALE, TEXAS
ANNUAL PROGRAM OF SERVICES
15: EDC413 FUND
01: ADMINISTRATION
EXPENDITURE LINE ITEM SUMMARY
FY06 -07 FY07 -08 FY08 -09 FY08 -09 FY08 -09 FY09.10 CY - PY
ACCOUNT ACCOUNT NAME ACTUAL ACTUAL BUDGET AMENDED ESTIMATE PROPOSED GRANGE
5101 -01 -00
SALARIES
72,740
76,120
77,690
77,690
32,502
-
(77,690)
5107 -01 -00
OVERTIME
4,663
5,738
3,000
3,000
-
-
(3,000)
5111-01-00
AUTO ALLOWANCE
3,958
4,235
4,800
4,800
1,278
-
(4,800)
5114 -01 -00
LONGEVITY
-
-
-
-
184
-
-
5115 -01 -00
RETIREMENT
8,407
8,926
9,344
9,344
3,871
-
(9,344)
5116 -01 -00
UNEMPLOYMENT INSURANCE
45
45
-
-
108
-
-
5117 -01 -00
FICA
6,224
6,629
6,540
6,540
2,598
-
(6,540)
5118 -01 -00
MEDICAL INSURANCE
5,379
5,754
6,000
6,000
2,071
-
(6,000)
5120 -01 -00
LIFE INSURANCE
123
173
255
255
58
-
(255)
5121 -01 -00
DENTAL INSURANCE
238
285
360
360
95
-
(360)
5122 -01 -00
VISION INSURANCE
79
86
120
120
29
-
(120)
5190 -01 -00
VACATION /SICK/TERM /LEAVEADJ
3,061
2,182
-
-
-
-
-
PERSONNEL
$104,916
$110,172
$108,109
$ 108,109 $
42,792 $
-
$(108,109)
5220 -01 -00
UNIFORMS
405
218
600
600
-
300
(300)
5240 -01 -00
PRINTED SUPPLIES
3,242
4,555
14,000
14,000
4,449
22,000
8,000
5260 -01 -00
GENERAL OFFICE SUPPLIES
1,561
754
1,500
1,500
332
500
(1,000)
5261 -01 -00
POSTAGE
624
871
1,000
1,000
128
500
(500)
5280 -01 -00
MINOR EQUIP /SMALL TOOLS <$5K
764
1,870
3,000
3,000
-
-
(3,000)
5290 -01 -00
EXPENDABLE SUPPLIES
1,375
841
1,500
1,500
1,023
1,000
(500)
SUPPLIES
$ 7,972
$ 9,107
$ 21,600
$ 21,600 $
5,932 $
24,300
$ 2,700
5403 -01 -00 BUILDING MAINTENANCE
5440 -01 -00 OFFICE EQUIP /SOFTWARE MAINT
MAINTENANCE
5501 -01 -00
ADVERTISING
5510 -01 -00
ASSOC DUES /PUBLICATIONS
5512 -01 -00
CONTRACTUAL SERVICES
5525 -01-00
TRAINING /SEMINARS
5565 -01 -00
LEGAL SERVICES
5567 -01 -00
AUDIT SERVICES
5569 -01 -00
IT SUPPORT
5570 -01 -00
SPECIAL SERVICES
5575 -01 -00
EQUIPMENT RENTAL
5578 -01 -00
TRAVEL
5580 -01 -00
ENGINEERING SERVICES
5585 -01 -00
TELEPHONE SERVICES
5595 -01 -00
ADMIN CHARGE - GENERAL FUND
1,000
SUNDRY
5610 -01 -00
VISUAL GRANT
5615 -01 -00
FUNCTIONAL GRANT
5625 -01 -00
ISSUANCE COST
15,000
DEBT
9 - - - -
21 1,000 1,000 - - (1,000)
$ - $ 30 $ 1 $ 1,000 $ - $ - $ (1,000)
2,909
980
18,000
18,000
789
5,000
(13,000)
1,086
3,844
1,400
1,400
334
200
(1,200)
56,191
563,913
300,500
130,000
121,854
-
(130,000)
495
34
2,800
2,800
430
1,000
(1,800)
11,311
38
25,000
25,000
27,340
40,000
15,000
-
-
3,000
3,000
3,000
4,000
1,000
-
984
-
-
-
-
-
24,759
9,585
90,000
85,500
27,870
103,420
17,920
-
373
1,000
1,000
-
-
(1,000)
2,191
2,457
7,450
7,450
284
700
(6,750)
-
-
25,000
-
-
-
-
1,417
978
600
600
294
-
(600)
22,750
58,334
53,221
53,221
66,326
52,862
(360)
$123,108 $641,520 $527,971 $ 327,971 $ 248,521 $ 207,182 $(120,790)
4,790 7,807 100,000 100,000 36,417 (100,000)
49,569 96,423 1 1 - (1)
32,338 - - - - -
$ 86,696 $104,231 $100,001 $ 100,001 $ 36,417 $ - $(100,001)
5701 -01 -00 TRANSFER OUT - GENERAL FUND - - - - - 1,000 1,000
5714 -01 -00 TRANSFER OUT - DEDICATION FUND 50,000 100,000 - - - - -
"EXEMPLIFYING EXCELLENCE"
CITY OF KENNEDALE, TEXAS
ANNUAL PROGRAM OF SERVICES
EXPENDITURE LINE ITEM SUMMARY
15: EDC48 FUND
01: ADMINISTRATION
"EXEMPLIFYING EXCELLENCE"
FY06 -07
PY07 -08
FY08 -09
FY08 -09
FY08 -09 FY09 -10
CY - PY
ACCOUNT
ACCOUNT NAME
ACTUAL
ACTUAL
BUDGET
AMENDED
ESTIMATE PROPOSED
CHANGE
5795 -01 -00
TRANSFER OUT -EDC RESERVE FUND
112,606
-
-
-
- -
-
TRANSFERS
$162,606
$100,000
$ -
$ -
$ - $ 1,000
$ 1,000
5800 -01 -00
LAND
80,146
617
25,000
25,000
-
(25,000)
5813 -01 -00
KENNEDALE ENTRANCE SIGN
-
-
45,000
45,000
- 45,000
-
5820 -01-00
BUILDING IMPROVEMENT
-
-
25,000
25,000
- 369,078
344,078
CAPITAL
$ 80,146
$ 617
$ 95,000
$ 95,000
$ - $ 414,078
$ 319,078
TOTAL EXPENDITURES
$565,444
$965,677
$853,681
$ 653,681
$ 333,662 $ 646,560
$ (7,122)
"EXEMPLIFYING EXCELLENCE"
CITY OF KENNEDALE, TEXAS
ANNUAL PROGRAM OF SERVICES
EXPENDITURE LINE ITEM DETAIL
15: EDC4B FUND
01: ADMINISTRATION
FY09 -10
ennncr_n
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
$240.01.00
PRINTED SUPPLIES
PRINTED MAPS OF ENTIRE CITY
2,000 22,000
EDC COPIES /BROCHURES
3,000
CITY MARKETING FLYERS /AERIAL PHOTOS
5,000
FOXY SERVICES FOR QUARTERLY NEWSLETTER ($600 MONTH) AND
12,000
CHRISTMAS EDITION ($1500), SPLIT 66% EDC /34% CITY PLUS ADDTL
6200 FOR BROADENING OF NEWSLETTER
5260 -01 -00
GENERAL OFFICE SUPPLIES
FILES /FOLDERS /PAPER /PENCILS (REDUCED DUE TO CONTRACTING
500 500
OUT EDC DIRECTOR POSITION
5261 -01.00
POSTAGE
FOR MAIL OUTS /MARKETING PACKAGES (REDUCED DUE TO
500 500
CONTRACTING OUT EDC DIRECTOR POSITION
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
MEETING SUPPLIES
11000 1,000
LOCAL SIGNS
5440.01 -00
OFFICE EQUIP /SOFTWARE MAINT
REDUCED DUE TO CONTRACTING OUT EDC DIRECTOR POSITION
5501.01.00
ADVERTISING
PROMOTIONAL ADVERTISING (CITY STREET MAPS)
5,000 5,000
PARK EVENTS CONTRIBUTION IF NEEDED (REDUCED DUE TO INCREASE
-
IN PRINTED SUPPLIES LINE ITEM FOR NEWSLETTER, NOT CURRENTLY
BUDGETED BUT IS BEING EXPENSED)
MARKETING HANDOUTS
5510 -01.00
ASSOC DUES /PUBLICATIONS
TEXAS ECONOMIC DEVELOPMENT COMMISSION
200 200
MISCELLANEOUS EDC RELATED MEMBERSHIPS BY STAFF /BOARD
-
MISCELLANEOUS EDC RELATED SUBSCRIPTIONS BY STAFF /BOARD
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
11000 1,000
ICSC CONFERENCE REGISTRATION BY BOARD 3 MEMBERS
5565.01 -00
LEGALSERVICES
BILLABLE HOURS FOR CITY ATTORNEY ON EDC RELATED PROJECTS
25,000 40,000
($2100 PER MONTH)
OTHER LEGAL SERVICES FOR TIFF /MMD /TOWN CENTER PROJECT
15,000
5567 -01 -00
AUDIT SERVICES
PATILLO, BROWN & HILL SERVICES FOR INDEPENDENT ANNUAL AUDIT
4,000 4,000
5569 -01 -00
IT SUPPORT
5570 -01 -00
SPECIAL SERVICES
TOWN CENTER CONSULTING FIRM (APPROXIMATELY $3500 PER
45,000 103,420
MONTH)
BRANDING /IMAGE SERVICES
50,000
E -CIVIS GRANT WRITING PROGRAM
8,000
PARKWAY BANNERS
-
DATAPROSE SERVICE FOR STUFFING OF NEWSLETTER ($35 MONTH),
420
SPLIT 67% EDC /34% CITY
5575.01.00
EQUIPMENT RENTAL
$578 -01.00
TRAVEL
MILEAGE /FOOD FOR LOCAL EDC RELATED BUSINESS MEETINGS BY
700
STAFF /BOARD
ISCS CONFERENCE AIRFARE BY BOARD (3 MEMBERS)
ICSC CONFERENCE HOTEL ($2000) / FOOD ($800)
-
TRAVEL RELATED TO OTHER EDC TRAINING /SEMINARS BY
700
STAFF /BOARD
5585 -01.00
TELEPHONE SERVICES
NO LONGER UTILIZE SERVICE (REDUCED DUE TO CONTRACTING OUT
-
EDC DIRECTOR POSITION
"EXEMPLIFYING EXCELLENCE"
CITY OF KENNEDALE, TEXAS
ANNUAL PROGRAM OF SERVICES
EXPENDITURE LINE ITEM DETAIL
15:EDC48FUND
01: ADMINISTRATION
FY09 -10
eanoncon
5595 -01.00
ADMIN CHARGE- GENERAL FUND
CHARGE FOR SERVICES PROVIDED BY GENERAL FUND RESOURCES
52,862
52,862
(10% TOTAL REVENUES EXCLUDING INTEREST/TRANSFERS)
5610 -01.00
VISUAL GRANT
GRANT ASSISTANCE PROVIDED TO LOCAL BUSINESSES
5701.01 -00
TRANSFER OUT - GENERAL FUND
BOARD APPROVAL TO ASSIST IN SECTION HOUSE RELOCATION
1,000
1,000
5800 -01.00
LAND
LAND /RIGHT -OF -WAY PURCHASE FOR THE BENEFIT OF EDC
5813 -01.00
KENNEDALE ENTRANCE SIGN
NEW ENTRANCEWAY SIGNS (2 )/SITE IS TBD
45,000
45,000
5820.01.00
BUILDING IMPROVEMENT
QUIK TRIP GAS STATION FAQADE STONE WORK
15,000
369,078
EXPENSES TO REPLACE SUBWAY, CHICKEN EXPRESS, LUMBAR YARD
354,078
AND DOLLAR GENERAL BUILDING ROOFS (OFFSET FROM MONEY
RECEIVED FROM TML INSURANCE REIMBURSEMENT
TOTAL EXPENDITURES $ 646,560
EXEMPLIFYING EXCELLENCE"
Draft dated 12/3/09
PkESOLUTION AUTHORIZING NOTICE OF INTENTION TO ISSUi
CERTIFICATES OF OBLIGATION
T HE STATE OF TEXAS §
COUNTY OF TARRANT §
CITY OF KENNE DALE §
WHEREAS, the City Council of the City of Kennedale, Texas (the "City ") hereby
determines that it is necessary and desirable to (1) construct improvements and extensions to the
City's waterworks, sewer and storm sewer systems; (2) construct, improve and repair City streets,
parking lots and sidewalks, together with drainage improvements, utility line construction,
relocation, replacement, and improvements, traffic and street signalization, landscaping, signage and
lighting improvements; (3) relocate and restore historic section house; (4) provide local match for
federal grant to make street, sidewalk, landscaping, intersection, and lighting improvements; and (5)
pay all or a portion of the City's contractual obligations for professional services rendered by
engineers, attorneys, and financial advisors in connection with the above projects (collectively, the
"Project ");
WHEREAS, the City Council of the City intends to finance the Project from proceeds
derived from the sale of one or more series of Combination Tax and Revenue Certificates of
Obligation issued by the City pursuant to Sections 271.041 - 271.063, Texas Local Government
Code, as amended; and
WHEREAS, pursuant to Section 271.049, Texas Local Government Code, the City Council
deems it advisable to give notice of intention to issue certificates of obligation in an amount not to
exceed an aggregate of $2, 000, 000 for the purpose ofpaying, in whole or in part, the Project, to pay
all or a portion of the legal, fiscal and engineering fees in connection with the Project, and to pay
the costs of issuance related to the certificates of obligation; and
WHEREAS, it is hereby officially found and determined that the meeting at which this
resolution was passed was open to the public, and public notice of the time, place and purpose of
said meeting was given, all as required by Chapter 551, Texas Government Code.
TWEREFORE, BE IT RESOL VED BY THE CITY COUNCIL OF THE CITY OF
SECTION 1. APPROVAL OF NOTICE ®FINTENTION Attached hereto is a form ofthe "Notice
of Intention to Issue Combination Tax and Revenue Certificates of Obligation ", the form and
substance of which is hereby adopted and approved.
SECTION2. AUTHORIZATION TO PUBLISHNoTICE OF INTENTION The City Secretary shall
cause said notice to be published in substantially the form attached hereto in a newspaper of general
circulation in said City, on the same day in each of two consecutive weeks, the date of the first
publication thereof to be before the 30th day before the date tentatively set for the passage of the
ordinance authorizing the issuance of such certificates of obligation as shown in said notice. The
City Manager and the City Secretary are each authorized to make changes to said Notice as
necessary prior to its publication.
SECTION 3. INCORPORATION OF RE CITALS The City Council hereby finds that the
statements set forth in the recitals of this Resolution are true and correct, and the City Council
hereby incorporates such recitals as a part of this Resolution.
SECTION 4. EFFECTIVE DATE This Resolution shall become effective immediately upon
passage.
[The remainder of this page intentionally left h1an1f]
City Secretary, City of Kennedale, Texas Mayor, City of Kennedale, Texas
(SEAL)
[SIGNATURE PAGE TO NOTICE OF INTENTION RESOLUTION]
CITY OF ICE DALE, TEXAS
NOTICE OF INTENTION TO ISSTUE
COMBINATION TAX AND REVENUE CERTIFICATES OF OBLIGATION
The City Council of the City of Kennedale, Texas (the "City ") does hereby give notice of
intention to issue one or more series of City of Kennedale, Texas Combination Tax and Revenue
Certificates of Obligation in the maximum aggregate principal amount not to exceed $2, 000, 000 for
the purpose of paying, in whole or in part, contractual obligations incurred to (1) construct
improvements and extensions to the City's waterworks, sewer and storm sewer systems; (2)
construct, improve and repair City streets, parking lots and sidewalks, together with drainage
improvements, utility line construction, relocation, replacement, and improvements, traffic and street
signalization, landscaping, signage and lighting improvements; (3) relocate and restore historic
section house; (4) provide local match for federal grant to make street, sidewalk, landscaping,
intersection, and lighting improvements; and (5) pay all or a portion of the City's contractual
obligations for professional services rendered by engineers, attorneys, and financial advisors in
connection with the above projects. The City proposes to provide for the payment of such
Certificates of Obligation from the levy and collection of ad valorem taxes in the City as provided
by law and from a lien on and pledge of "Surplus Revenues ", if any, received by the City from the
ownership and operation of the City's waterworks and sanitary sewer system. The City Council
proposes to authorize the issuance of such Certificates of Obligation at 7:00 p.m. on Thursday,
January 14, 2010, at a Regular Meeting, at the City Hall, Kennedale, Texas.
/s/ Brvan Lankhorst
Mayor, City of Kennedale, Texas
Lei rA .M F . .'' , : 01
THE STATE OF TEXAS §
COUNTY OF TARRANT §
CITY OF ICE DALE §
I, the undersigned City Secretary of said City, hereby certify as follows:
1. The City Council of said City convened in REGULAR MEETING ON THE 10 DAY
OF DECEMBER, 2010, at the City Hall, and the roll was called ofthe duly constituted officers and
members of said City Council, to wit:
Bryan Lankhorst, Mayor
John Clark, Councilmember, Place 1
David Green, Councilmember, Place 2
Brian Johnson, Councilmember, Place 3
Kelly Turner, Councilmember, Place 4
Jerry Miller, Councilmember, Place 5
and all of said officers and members of said City Council were present, except the following
absentees: thus constituting a quorum. Whereupon, among
other business, the following was transacted at said Meeting: a written
was duly introduced for the consideration of said City Council. It was then duly moved and
seconded that said Resolution be adopted; and, after due discussion, said motion carrying with it the
adoption of said Resolution, prevailed and carried by the following vote:
AYES: — NOES: ABSTENTIONS:
2. That a true, full and correct copy of the aforesaid Resolution adopted at the Meeting
described in the above and foregoing paragraph is attached to and follows this Certificate; that said
Resolution has been duly recorded in said City Council's minutes of said Meeting; that the above
and foregoing paragraph is a true, full and correct excerpt from said City Council's minutes of said
Meeting pertaining to the passage of said Resolution; that the persons named in the above and
foregoing paragraph are the duly chosen, qualified and acting officers and members of said City
Council as indicated therein; that each of the officers and members of said City Council was duly
and sufficiently notified officially and personally, in advance, of the time, place and purpose of the
aforesaid Meeting, and that said Resolution would be introduced and considered for passage at said
Meeting, and each of said officers and members consented, in advance, to the holding of said
Meeting for such purpose, and that said Meeting was open to the public and public notice of the
time, place and purpose of said meeting was given, all as required by Chapter 551, Texas
Government Code.
SIGNED AND SEALED the 10' day of December, 2010.
(SEAL)
City Secretary, City of Kennedale, Texas
W17'T'limmm,
To KEDC Board of Directors
Date: December 5, 2009
Subject: Review and consider action to authorize lease of Lot 8, Kennedale TownCenter
Addition to the City.
Originated by: Bob Hart, City Manager /Executive Director
Summary: In order to qualify for tax - exempt debt, lot 8 must be shown to remain as
public property. A long -term lease will do so. The bond attorneys require the
lease to be at lease 50 years in length. A draft lease is attached.
Recommendation: Authorize the president to sign the lease of Lot 8 to the city.
Page 1 of 1
This Lease Agreement ( "Lease ") is made by and between the Kennedale Economic
Development Corporation, a Type B corporation governed by Texas Local Government Code
Chapter 505, ( "EDC" or "Lessor ") and the City of Kennedale, a Texas municipal corporation
( "City" or "Lessee "). For convenience, the EDC and the City may hereinafter be referred to
collectively as "parties" and individually as a "party."
WITNESSETH:
WHEREAS, the EDC owns a certain parcel of land described on Exhibit "A" attached
hereto (the "Premises ");
WHEREAS, the City desires to lease the Premises pursuant to the terms and conditions
of this Lease for economic development purposes;
WHEREAS, the EDC has determined that it will serve a public purpose to lease the
Premises to the City for less than the fair market value rent because the development of the
Premises and the proposed use of the Premises will create substantial economic benefit for the
citizens of the City of Kennedale;
WHEREAS, the City will issue tax exempt bonds to fund public improvements on the
Premises; and
WHEREAS, the City and the EDC have determined that it is in the best interest of the
community to enter into this Lease.
NOW, THEREFORE, in consideration of mutual promises herein recited, and for other
good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged,
the parties hereby agree as follows:
I.
General Lease Terms and Conditions
A. Definitions.
1. Lessor: Kennedale Economic Development Corporation
2. Lessee: City of Kennedale
3. Premises: That certain parcel of land described on Exhibit "A" attached hereto.
4. Permitted Uses: All uses commensurate to the Kennedale TownCenter retail and
office development including use of the property to construct the Section House
and a public market area.
5. Rent: The City shall pay one dollar ($1. ) annually for lease of the Premises to
be paid in advance on the commencement date. Further, the City shall give to the
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EDC the proceeds from the certificates of obligation issued for the purpose of
constructing public improvements on the Premises.
6. Commencement Date: January 4, 2010.
7. Term: Fifty ears beginning on the Commencement Date unless earlier
terminated or extended by the provisions of this Lease.
B. Lease Grant. Lessor agrees to lease the Premises to Lessee and Lessee agrees to lease
the Premises from Lessor subject to the terms and conditions of this Lease.
C. Use. Lessee agrees that its use of the Premises will not exceed the scope of the
Permitted Uses unless the Lessee obtains the prior consent of Lessor.
D. Possession. Upon the Commencement Date, Lessor shall deliver access and possession
of the Premises to the Lessee.
E. Lessee's Duties. During the Term of this Lease and any extensions thereof, Lessee
agrees to:
1. Abide by the terms of this Lease and any applicable law, rule, regulation and
ordinance; and
2. Fulfill its obligations to deliver the proceeds from the certificates of obligation to
the EDC as specified in this Lease.
F. Improvements. Other than improvements within the scope of the Permitted Uses,
Lessee shall not construct any improvements on the Premises without the express, written
consent of Lessor. Lessor shall construct public improvements to serve the Premises including
the Section House, landscaping, lighting, and parking on the Premises with the proceeds from the
issuance of certificates of obligations from the Lessee.
G. Termination. Lessor may not terminate this Lease during the Term of the Lease. Lessee
may terminate this Lease with 30 days written notice to Lessor. Additionally, the parties may
mutually agree in writing to terminate this Lease.
H. Events of Default. Lessee shall be in default of this Lease if it fails to comply with any
term, provision or covenant of this Lease.
I. Remedies. In the event of default, Lessor's sole remedy shall be to bring suit against
Lessee for specific performance.
J. No Encumbrances. Lessee shall not have any security interest in or lien or
encumbrances upon the Premises. In the event any liens or encumbrances are placed upon the
Premises by Lessee or due to the actions or omissions of Lessee, Lessee agrees to immediately
take the necessary action to remove said liens or encumbrances from the Premises. This
obligation shall survive the termination of this Lease.
K. Extension. This Lease shall expire at the end of the Term unless extended by a written
agreement signed by both parties.
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II.
N iscellaneous Provisions
A. Entire Agreement. This Lease, together with its exhibits, constitutes the entire
agreement of the parties concerning the subject matter of this Lease. There are no oral
representations, warranties, agreements, or promises pertaining to the subject matter of this
Lease that have not been incorporated in this Lease.
B. Amendment. This Lease may be amended only by an instrument in writing signed by
the parties.
C. Assignment /Subleasing. Neither this Lease nor any obligation thereof may be assigned
by Lessee without the prior written consent of Lessor and any attempted assignment without
such consent is void.
D. Survival. The obligations of this Lease that cannot be performed before the termination
of this Lease will survive termination of this Lease, and the legal doctrine of merger will not
apply to these matters.
E. Choice of Law; Venue. This Lease will be governed by and construed under the laws of
the State of Texas, without regard to choice -of -law rules of any jurisdiction. Venue for all legal
action is in Tarrant County, Texas.
F. No Waiver of Default. It is not a waiver of default if the non - defaulting party fails to
declare immediately a default or delays taping any action with respect to the default.
G. No Third -Party Beneficiaries. This Lease binds, benefits, and may be enforced only by
the parties and their respective successors and permitted assigns. There are no third -party
beneficiaries of this Lease.
H. Severability. If a court of competent jurisdiction fmds that any provision of this Lease is
illegal or unenforceable, the remaining provisions will remain in effect without the illegal or
unenforceable provision being enforced.
I. No Special Relationship. The parties' relationship is an ordinary commercial
relationship, and they do not intend to create the relationship of principal and agent, partnership,
joint venture, or any other special relationship.
J. Counterparts. If this Lease is executed in multiple counterparts, all counterparts taken
together will constitute this Lease.
K. Authority. The parties hereby warrant and represent that they are authorized to enter
into this Lease and that the undersigned persons are authorized to execute this Lease on their
respective behalves.
SIGNED to be effective on the Commencement Date.
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KENNEDALE ECONOMIC DEVELOPMENT CORPORATION
By:
Robert Mundy, President
CITY OF KENNEDALE, TEXAS
By:
Bryan Lankhorst, Mayor
ATTEST:
CITY SECRETARY
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ECONOMIC DEVELOPMENT AGREEMENT
FOR DEVELOPMENT OF I ENNEDALE TOWNCENTER
This Economic Development Agreement ("Agreement ") is made and entered into by and
between Kennedale Town Center, L.P., ( "the Partnership ") acting by and through David G.
Johnson, Manager of KTC GP, L.L.C. the General Partner of the Partnership, the principal office
of the Partnership being 3977 Fall Creek Road, Spicewood, Texas 78669, and the Kennedale
Economic Development Corporation ("Corporation"), a nonprofit corporation organized as a
Type B Corporation under the Development Corporation Act of 1979, Tex. Loc. Gov't Code
Ann. §§ 505.001 — 505.355 (Vernon Supp. 2008) ("Act"), for the purposes and considerations
stated below. For convenience, the Partnership and the Corporation may be hereinafter referred
to collectively as "parties" and individually as a "party."
RECITALS:
WHEREAS, the Corporation has purchased certain real property located within the
corporate limits of the City of Kennedale, Texas ( "City ") (hereinafter referred to as the
"Property ");
WHEREAS, the Corporation has determined and found that the Project and
Improvements, as hereinafter defined and described, and the expenditures of the Corporation set
forth in this Agreement are suitable or required for the development of a new business enterprise
and fall within the definition of a "Project" as defined in the Act;
WHEREAS, the Corporation, after diligent search for a development partner spanning in
excess of two years, requested the Partnership to develop the Property as a multi -use
development to be known as Kennedale TownCenter that will include office and retail uses, as
depicted in the approved plan showing the concept and phasing of the development, attached
hereto as Exhibit "A" (the "Concept / Phasing Plan ");
WHEREAS, the Corporation, having determined that substantial economic benefit and
the creation of new opportunities of employment will accrue to the City as a result of the
Partnership's development and operation of the Improvements, desires to have the Partnership
construct the Improvements and operate and /or lease the Property for the operation of the
Kennedale TownCenter, a retail shopping center and professional office complex.
WHEREAS, the Corporation has determined that the Partnership's development and
operation of the Improvements will eventually, after exercise of the option to purchase, increase
the taxable value of the Property and will directly and indirectly result in the creation of
additional jobs throughout the City, the value of which will outweigh the amount of expenditures
required of the Corporation under this Agreement;
WHEREAS, the Corporation, in order to encourage the development and operation of
the Property, desires to lease the Property to the Partnership to develop as hereinafter set forth,
and to extend an option to the Partnership to purchase the Property upon completion of the
Project or as phases of the Project are completed, in the discretion of the Corporation;
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"District" means the Kennedale TownCenter Development District, created as a
Municipal Management District by the Texas Legislature.
"EDC Board" means the board of directors of the Corporation.
"Existing Building 1 Improvements" means addition of a fagade to the Existing
Building 1 shown on Exhibit "A ".
"Force Majeure" means an event or,eircumstance which prevents one party from
performing its obligations under this Agreement, which event or circumstance is not within the
reasonable control of, or the result of the negligence of, the party claiming Force Majeure, and
which, by the exercise of due diligence, the party claiming Force Majeure is unable to overcome
or avoid or cause to be avoided. Force Majeure includes, but is not limited to: acts of God, fire,
flood, hurricane, tornado, earthquake, war, and terrorism.
"Ground Lease" means that certain 45 year ground lease pursuant to which the
Corporation leases portions of the Property to the Partnership, the form of which is attached
hereto as Exhibit `B" and incorporated herein for all purposes. The Ground Lease will contain a
Purchase Option granting the Partnership the right to purchase the Property at the completion of
the Project, or in the discretion of the Corporation, portions of the Project as they are completed.
Any sale of the Pmpertypursuant to the Purchase Option will exclude mineral interests which
will be retained by the Corporation.
"Improvements" means collectively, the Partnership Improvements, the Public
Improvements, the Existing Building 1 Improvements, the Municipal Drive Improvements and
the of 8 Improvements.
"Lot g Improvements" means the building to be relocated and /or constructed and the
Public Improvements and public market area to be constructed on Lot 8, as depicted on Exhibit
"A ", by the Corporation.
"Municipal Drive Improvements" means the parking improvements to Municipal Drive
(which is owned by the City) as depicted on Exhibit "A ".
"Partnership Improvements" means the construction of six additional structures
labeled on Exhibit "A" as Buildings 2 through 7. The sizes and phasing of such buildings is set
forth in Paragraph 4(b) below.
"Partnership" means Kennedale Town Center, L.P. a Domestic Limited Partnership
organized under the laws of Texas.
"Payment Bond" means a bond executed on the part of the Partnership to the
Corporation in an amount equal to one hundred percent (100 %) of the total cost of the
Partnership Improvements, guaranteeing payment for all labor, materials and equipment used in
the construction of the Improvements.
Deleted: 50
Deleted: Section House
Formatted: Indent: First line: 0.5"
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ECONOMIC DEVELOPMENT AGREEMENT PAGE 3 OF 17
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(1) Engage civil engineers and other qualified consultants for platting, zoning,
geotechnical, utility, drainage, access, landscape and irrigation, and parking lot design on the
Property as necessary and desirable to allow development of the Improvements in accordance
with the Approved Plans and the Concept / Phasing Plan. The Partnership agrees and shall
include in any agreement with the engineer that the Corporation shall be entitled to receive all
work product of the engineer related to the Project and shall be entitled to use all work product of
the engineer for any purpose related to the Project.
(2) Engage an architect to design the Conce pVPliasi ng Plan.
(3) Execute the Payment Bond. The Partnership agrees no construction will
commence on Partnership Improvements until the Payment Bond has been executed and a copy
has been provided to the Corporation. The Payment Bond is only necessary for that phase or
phases about to be constructed.
(4) Provided the Corporation is in compliance with Section 7 of this
Agreement, commence facade improvements (in accordance with the Approved Plans) of
Existing Building 1 when the funding is made available by the Corporation, and Substantially
Complete construction of the fagade improvements within 180 days of commencement.
(5) Substantially Complete the construction of each building in accordance
with the Approved Plans and the Phasing Chart contained in Par. 4(b) below. Construction shall
include demolition of certain structures currently on the Property, but no demolition shall occur
until the necessary improvements have been completed and are prepared to allow tenants
currently in the existing structures to be relocated to those improvements.
(6) When the Corporation notifies the Partnership that it has funds available
for the kot 8 Improvements and Municipal Drive Improvements then the Partnership will
construct such improvements if requested. In such event, the Partnership will be paid a fee equal
to 10% of the total cost of thek t 8 Improvements and Municipal Drive Inlprovement
(7) Construct the Improvements in compliance in all material respects with all
applicable local ordinances and state and federal law.
(8) Operate the Improvements or lease the Improvements for use as a retail
space or office space pursuant to the Property Management Agreement for the entire term of this
Agreement.
(9) Enter into and comply with obligations under the Property Management
Agreement with the Corporation to manage the existing structures on the Property and the
Improvements, once built. The Partnership agrees to use all commercially reasonable efforts
applicable to projects similar in nature, market type, and market share to the Project to keep the
lease portions of the Property as fully leased as is commercially reasonable, at all times.
(10) Comply with all obligations imposed under the Ground Lease.
Deleted:
Deleted:
Deleted: layout of the Project,
including a schematic and conceptual
design at the Partnership's expense.
(Already performed and accepted —
Concept / Phasing Plan)
Deleted: section House
Deleted: Section House
Deleted' (and the Public improvements
A ssociated there
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(d) The Partnership additionally covenants and agrees that it will be solely
responsible and liable for any labor or materials furnished for the construction of the Partnership
Improvements and that no mechanic's or other lien for any such labor or materials shall attach to
or affect the Property or the estate or interest of the Corporation in and to the Property. The
Partnership shall provide in all agreements executed by any contractor or subcontractor and all
others who will furnish plans, labor or materials in connection with work on the Property that
any mechanic's or materialmen's lien which may arise from such person furnishing labor or
materials with respect to any such work shall apply only to the Partnership's leasehold interest
hereunder and shall in no event apply to the Property or the Corporation's interest in this
Agreement.
(e) Whenever and as often as any lien shall be filed against the Property, based upon
any act or interest of the Partnership or of anyone claiming through the Partnership, the
Partnership shall take such action by bonding, deposit or paying any sum of money required to
discharge any such lien. In. such event, and provided the Partnership has not so acted for thirty
(30) days after notice from the Corporation to the Partnership, the Corporation may pay the
amount of such lien or discharge the same by deposit, and the amount so paid or deposited shall
be immediately due and owing by the Partnership to the Corporation.
5. Covenant Running with the Land.
As long as this Agreement is in effect, all rights, covenants, restrictions, burdens,
privileges and charges set forth in this Agreement shall exist. Any person who, within the
restrictions of this Agreement, shall assume or become vested of the leasehold estate of the
Partnership hereunder, shall be bound by and liable upon all such rights, covenants, restrictions,
burdens, privileges and charges set forth in this Agreement.
6. Improvements.
The Partnership shall be solely responsible for the design and construction of the
Partnership Improvements and shall comply with all zoning regulations, subdivision regulations,
building codes and other ordinances of the City applicable to the Partnership Improvements and
the Approved Plans.
Covenants of the Corporation.
(a) The Corporation agrees to reimburse the Partnership or pay directly to the
provider, expenses incurred by the Partnership to engage civil engineers and other qualified
consultants for platting, zoning, geotechnical, utility, drainage, access, landscape and irrigation,
and parking lot design on the Property (all as required pursuant to Par. 4(a)(1) above) in an
amount not to exceed $50,000.
(b) The Corporation agrees to compensate the Partnership for services as construction
manager in the Existing Building 1 Improvements in an amount of 10% of the actual costs of
said improvements (including the Public Improvements associated therewith) to be paid in not Deleted: WAKennedaloUgreementsWo
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(e) The Corporation may contract with the Partnership as construction manager to
construct the Jot 8 Improvements and Municipal Drive Improvements The agrees Deleted: Section House
to compensate the Partnership for services as construction manager for the f 8 o Improvements Deleted: in
— ti..
and Municipal Drive lmprovements in an amount of 10% of the actual costs of said Deleted: Section House
improvements (including the Public Improvements associated therewith) to be paid in monthly
installments as work progresses upon the submission to the Corporation of satisfactory
documentation evidencing the expenditures for the construction._ Notwithstanding the above, if
the Lot 8 Improvements and Municipal Drive hn rove ments are constructed at the same time
and under the sau contract as the Lots I through 7 harking and utility improvements are
constructed, the partnership will serve as construction manager for no compensation,
(f) The Public Improvements within the Municipal Drive right of way that are
designed in direct support of each of Phases 5, 6, & 7 must be constructed prior to or
simultaneously with construction of each said phase.
(g) The Corporation agrees to enter into and comply with a Ground Lease (with
Purchase Option) with the Partnership, in the form attached hereto as Exhibit "B ". The
Corporation will lease to the Partnership the land necessary to construct Buildings 2 through 7 in
the amount of $1.00 (one dollar) per year for the first 15 years of the term of the Ground Lease,
However, the rent will increase to the fair market value at the end of the 15 year period if the
Partnership does not exercise its option to purchase. During the term of the Ground Lease, all
rents on Buildings 2 through 7 will be paid to the Partnership. Rents from Existing Building 1
and the of 8 Improvements will be retained by the Corporation. Further, rents from all existing Deleted: seceonxouse
tenants will be retained by the Corporation until the tenants are relocated into the Partnership
Improvements.
(h) The Corporation agrees to subsidize the rents of certain tenants that will occupy
Buildings to be constructed on the Property by the Partnership. The tenants to which this
subsection applies are Chicken Express, Ace Cash, Subway and any other tenant occupying
existing buildings on or after the effective date of this Agreement which were required to
relocate due to demolition of buildings in order to construct the Improvements related to this
Project. The Corporation agrees to pay the Partnership an amount ("the Rent Subsidy ") to be
determined by calculating the difference between the stated rental of $24 per square foot for Del eted: _
Buildings 4, 5, 6, & 7 and the amount per square foot paid by the existing tenants on the effective
date of this Agreement. The Rent Subsidy shall be paid to the Partnership monthly on the 1st
day of the month beginning the first month that the tenants to whom this subsection applies are
required to relocate due to the Project, and shall continue during the primary term of such leases
plus any exercised extensions. The Partnership will pay the first $30 per square foot of tenant
finish out expenses and the Corporation will pay the difference, subject to prior approval by the
EDC Board. The Corporation will pay for the relocation expenses. The tenant finish out and
relocation costs paid by the Corporation will be considered part of the Project Costs as defined in
the Ground Leas
(i) The Corporation agrees to execute a Property Management Agreement with the
Partnership for the management of the existing structures on the Property upon execution of this
Agreement. The form of the Property Management Agreement is attached hereto as Exhibit "D" FDe C ltebed: VAKennedalokAgreementsWo
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COSTS, CLAIMS FOR COPYRIGHT AND PATENT INFRINGEMENT AND
ATTORNEYS' FEES WHICH MAY ARISE DUE TO ANY DEATH OR INJURY TO A
PERSON OR THE LOSS OF LOSS OF USE OF, OR DAMAGE T O PROPERTY ARISING
OUT OF OR OCCURRING AS A CONSEQUENCE OF T H_E ACTS OR OMISSIONS OF THE
PARTNER AND ITS CONTRACT ON "THE PROPERTY,
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(b) n the event of a default by the Corporation with respect to any of its obligations
hereunder, and the failure, after delivery of written notice of such default from the Partnership to
cure such default, then the Partnership may take the following action(s):
(1)_ Partnership may terminate this Agreement as it applies to
uncompleted phases of the Project. In such event, the Partnership must also terminate the
Ground Lease and Property Management Agreement with respect to uncompleted phases of the
Project. In the event the Partnership terminates the Ground Lease with respect to uncompleted
phases, then the Corporation shall-,pay to the Partnership an y p paid portion of the
,$50,000 owed by the Corporation for costs incurred by the Partnershit) under Paragraphs 4(a
and 7 a (but only for the uncompleted portions of the Project, as prorated on an equal basis
among all eight phases), and (ii) continue to pay the Rent Subsidy as set forth in Paragraph 7(h)
above as if this Agreement had not been terminated.
(2) The Partnership may bring an action for reimbursement or payment of
actual amounts agreed to be paid under this Agreement, but not an action for consequential
damages.
(3) — Jf the Corporation does not have adequate funding to pay for any portion
of the Public Improvements Lot 8 Improvements Or Municipal Drive Improvements then (i) the
term of this Agreement (and the Partnership's option to purchase) shall be extended for that
portion of time that funding is not available; (ii) the Partnership shall have the option to pay for
such improvements and then get reimbursed through an agreement to be reached between the
parties at that time; and (iii) if offered for sale by the Corporation, the Partnership may purchase
the completed phases of the Project (including Existing Building 1 but not including the kot 8
hllprovelnents or Municipal Drive Improvements) provided that the Corporation must use the
funds from such purchase to fund the required Public Improvements.
Deleted:
Deleted
Deleted: also (i)
Deleted: $50,000 for its expenses and
efforts in preparing the Concept /Phasing
Plan
Deleted:
Deleted: — -- - -�
Deleted: or Section House
Deleted: Section House
(4)___The Partnership may extend the time for performance. Deleted:
(c) ,Jn the event that a notice and opportunity to cure is required by either party Deleted:
following an event of default, then such opportunity to cure shall be not less than 30 days from
receipt of notice. Furthermore, no remedy shall be taken following such 30 day period provided
the defaulting party is diligently pursuing action to come into compliance.
(d)_)?rior to either party exercising the remedies hereunder (except for an extension of
time for performance or some agreed resolution), the parties agree to participate in a mediation to
attempt to reach a satisfactory resolution of the issues. The cost of such mediation shall be borne
equally by the parties. The non - defaulting party must send a request for mediation to the
defaulting party prior to exercising any remedies. That request may be simultaneous with the
notice and opportunity to cure. If the defaulting party refuses to participate in a mediation within
30 days of receipt of a request for mediation by the non - defaulting party, then the non - defaulting
party is free to pursue available remedies (assuming the time period for notice and opportunity to
cure has passed.)
Deleted:
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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.
15. Attorneys Fees.
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
reasonable attorneys fees and expenses incurred by reason of such action.
16. Entire Agreement.
This Agreement, the Property Management Agreement, and the Ground Lease (with
Purchase Option) contain the entire agreement between the parties with respect to the transaction
contemplated herein.
17. Amendment.
This Agreement may only be amended, altered, or revoked by written instrument signed
by the Partnership and the Corporation.
18. Successors and Assigns.
This Agreement shall be binding on and inure to the benefit of the parties, their respective
successors and assigns. The Partnership may assign all or part of its rights and obligations
hereunder only upon prior written approval of the Corporation, such approval not to be
unreasonably withheld.
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:
PARTNERSHIP: KENNEDALE TOWN CENTER, L.P.
Attn: David G. Johnson
3977 Fall Creek Road
Spicewood, Texas 78669
with a copy to: Alan McGraw
Alan M. McGraw, P.C.
211 Round Rock Avenue
Round Rock, Texas 78664
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ECONOMIC DEVELOPMENT AGREEMENT PAGE 15 OF 17
C: \Dou tmems aitd Scltin s bhart \Lo SUn \' Pem�� Inlem FileslO 13G \To m<' nfer De el o�men t- RD- 08,doc (12101/09)
KENNEDALE ECONOMIC
DEVELOPMENT CORPORATION
ATTEST:
Board Secretary
ATTEST:
Notary Public
By:
Robert Mundy Board President
Date:
KENNEDALE TOWN CENTER, L.P.
By: KTC GP, L.L.C., its General Partner
m
Date:
David Johnson, Manager
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ECONOMIC DEVELOPMENT AGREEMENT PAGE 17 OF 17
C:ADo um_�nls aid S igines \hhvtl SUhn�c \Tcm��or�r�� Inlz Pile \OI F`1 GA'r uonCcnterJ�e�clopnrenl -R1> O
GROUND LEASE
STATE OF TEXAS §
COUNTY OF TARRANT §
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This lease (the "Lease ") is made by and between the Kennedale Economic Development
Corporation, a nonprofit corporation organized as a Type B Corporation under the Development
Corporation Act of 1979, Tex. Loc. Gov't. Code Ann. § §505,001 — 505.355, acting through its
duly authorized president (hereinafter called "Lessor "), and Kennedale Town Center, L.P., acting
by and through David Johnson, Manager of KTC GP, L.L.C. the General Partner the Partnership,
the principal office of the Partnership being 3977 Fall Creek Road, Spicewood, Texas 78669,
(hereinafter called "Lessee ").
WHEREAS, Lessee wishes to enter into a lease with Lessor to use a parcel of Lessor's
land for economic development purposes;
WHEREAS, pursuant to a separate Economic Development Agreement for the
Development of Kennedale TownCenter ( "Economic Development Agreement"), the terms of
which are incorporated herein by reference, Lessee has agreed with Lessor to construct and
operate a retail shopping center and professional office complex to be known as the Kennedale
TownCenter on the land;
WHEREAS, Lessor has determined that it will serve a public purpose to lease such land
to Lessee initially for less than the fair market value rent because the proposed use of the land
will create substantial economic benefit and new employment opportunities for the citizens of
the City of Kennedale;
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WHREAS, capitalized terms contained in this Lease shall have the same meaning as set -' Deleted: I
forth in the Definitions contained in th is Agreement, or where the term is not defined in this Formatted: Line spacing: single
Agreement the term shall have the same meaning as set forth in the Economic Development Formatted: Normal
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NOW, THEREFORE, in consideration of the mutual promises and covenants herein New Roman
contained and other good and valuable consideration, the receipt and sufficiency of which are [ PwRoTman ad: Font: (Default) Times
hereby acknowledged, Lessor and Lessee agree as follows:
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DEFINITIONS
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__ "Project Costs' means all reasonable and necessary costs and expenses incurred and New Roman, 8 pt
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verified by the Corporation in connection with desian construction and installation of the Public New Roman, 8 pt
hnprovements and the Existing Building 1 Improvements including, without limitation, Formatted. Tabs: 6,5 ", Right +Not
construction costs and expenses engineering_ fees and expenses and costs of permits, ap v�ls at 6"
bonds and insurance, $50 of c incurred pursuant to Pal 4(a)(1) and 7(a) of the Deleted: wAKennednle\Agre=ents\To
m
Economic Developent Agreement and relocation of existing tenants and tenant finish out as wneent RD- os.doc
provided in Paragraph 7(h) of the Economic Development Agreement The aforesaid costs and Formatted: Font: (Default) Times
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\Uouuucnl ; Set dn �s\� hh u i Lolal SN sA Inlem File \ Gr ound Lea se Rn_ 08,dou.f 1 ?/01109.1 Page j��`
A.02 - Termination. Either arty may terminate this Lease o nly as provided in the
default provisions of Paragraph I I of the Economic Development Agreement.
ARTICLE IV.
RENTALS PAYABLE
4.01 Lessee agrees to pay Lessor one dollar ($1.00) per year as rent for the Premises
for the first 15 years of the term of the Lease. Lessee shall prepay said rent upon the execution
hereof. Lessor and Lessee acknowledge that the Premises are being rented to Lessee for less than
fair market rent in consideration of the construction of a facility by David Johnson in the City of
Kennedale that will create substantial economic benefit and will provide new employment
opportunities for the citizens of Kennedale.
4.02 At the end of said 15 year period, Lessee agrees to pay monthly to Lessor a fair
market value rental for the remainder of the term of the Lease. The fair market value shall take
into consideration the land and Public Improvements only, and not any Improvements
constructed at Lessee's expense. In determining fair market value, the parties shall first try to
reach an agreement on a fair and equitable number. If the parties are unable to agree, then each
party shall hire a certified appraiser whose principal office is within 30 miles of the Premises.
Each appraiser shall determine an amount that they believe is the fair market value, and then the
two amounts shall be averaged to determine the actual rental to be paid hereunder for the next
five years. Every five years thereafter, the rental amount shall be adj proportionate to anv
increase in rental rates charged by 1 essee to its subtenants.
4.03 All payments shall be made by Lessee to Lessor without notice or demand, ate
Lessor's address set forth above. Monthly rental payments shall be due on the ls day of each
month, If Lessee fails to pay any installment of Rent on or before the 10th, day of the month,
Lessee, must pay to Lessor, in addition to the installment of Rent, an amount equal to 5% of the
past due installment as additional Rent.
4.04 In addition to the rental in Sections 4.01 and 4.02, Lessee agrees to reimburse°
Lessor for all assessments on the Premises levied by the Kennedale TownCenter Municipal
Management District and paid by Lessor. The assessments shall be paid to Lessor by the 5"'
business day after Lessor sends notice to Lessee, supplied in accordance with this Lease, that
Lessor has paid the assessments as levied.
ARTICLE V.
MAINTENANCE, REPAIRS, AND UTILITIES
5.01 Lessee agrees to maintain the Premises, including all structures on or to be.
constructed on the Premises by Lessee, in a reasonable and habitable condition, and in an
aesthetic condition reasonably acceptable to Lessor. Lessee shall also be responsible for all
routine maintenance and repairs of the Public Improvements contained within the Premises.
Lessor shall be responsible for the cost of any major structural repairs necessary to the Public
Improvements constructed within the Premises. It is understood the par dial annua
C;1Doeuments and Settift bhar Sctlng em 0 var In k mel tlles\C11 h l _tiffom enter Gro Leas RD -OSdo� f 1x/011 Puce 3a
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Widow /Orphan control
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designating disabled parking permit spaces); however, no restriction may prohibit the use of any
parking space on the Premises by visitors to the Adjoining Property or the City of Kennedale
Municipal Complex.
ARTICLE IX.
GENERAL PROVISIONS
9.01 Notices All rent shall be paid or mailed to Lessor at the address set forth below,
and all notices required herein shall be sent to the respective parties by certified mail, return
receipt requested, at the following addresses:
To Lessor: Kennedale Economic Development Corporation
Attention: Executive Director
405 Municipal Drive
Kennedale, Texas 76060
with a copy to:, Wayne K. Olson
Taylor, Olson, Adkins, Sralla & Elam, L.L.P.
6000 Western Place, Suite 200
Fort Worth, Texas 76107
To Lessee: Kennedale Town Center, L.P.
Attention: David Johnson
3977 Fall Creek Road
Spicewood, Texas 78669
with a copy to: Alan McGraw
Alan M. McGraw, P.C.
211 Round Rock Avenue
Round Rock, Texas 78664
9.02 Binding Effect The provisions of this Lease shall be binding upon and inure to
the benefit of the parties hereto and their respective heirs, successors and assigns.
9.03 Interpretation and Place of Performance This Lease shall be construed under
the laws of the State of Texas and is deemed by the parties to be performable in Tarrant County,
Texas.
9.04 Partial Invalidity If any one or more of the provisions contained in this Lease
shall for any reason be held invalid, illegal, or unenforceable in any respect, such invalidity,
illegality, or unenforceability shall not affect any other provision herein, and this Lease shall be
construed as if such invalid, illegal or unenforceable provision had never been contained herein.
9.05 Amendment This Lease may not be altered, waived, or otherwise modified,
except where done in writing, and signed by Lessor and Lessee.
Deleted: President
Deleted.,
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b' :Allo um nts_ghd Setli �r1\1 o I I hn+ s V'femp or?n , Inte Fi1 es \0L h136 UoN )LuLen1 er C ound L ease_ RD 04(_1 1 )L hwe 5-
shall be provided with 30 day notice of cancellation or material change in coverage with
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minimum coverage as follows:
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(a) Bodily Injury: $250,000 per person, or
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$500,000 per occurrence; and
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y
4
(b) Combined single limit for bodily
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injury and property damage: $1,000,000
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_,L essee shall deliver certificates of insurance to Lessor before the commencement date of
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this Lease, and thereafter when requested All insurance companies and coverage must be
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authorized by the Texas Deparhnew of ImLirance to transact business in the State of Texas and
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mList be acceptable to the Lessor
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,
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ARTICLE XL ,-
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HOLD HARMLESS
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;FHE LESSEE_ 1N PERFORMING ITS OBLIGATIONS UNDER THIS LEASE IS ACTING INDEPENDENTLY
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AND THE LEssbKASSUMES NO RESPONSIBILITIES OR LIABILITIES TO THIRD PARTIES IN
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CONNECTION WITH THE LESSEES USE OR DEVELOPMENT OF THE PROPERTY. PROJECT OR
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IMPROVEMENTS. THE LESSEE ASSUMES RESPONSIBILITY FOR AND AGREES TO INDEMNIFY
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DEPEND, AND I [OLD HARMLESS THE LESSOR, ITS OFFICERS, AGENTS, EMPLOYEES, AND
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VOLUNTEERS M BOTH THEIR PUBLIC AND PRIVATE CAPACITIES FROM AND AGAINST CLAIMS
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SUITS, DEMANDS, LOSSES. DAMAGES, CAUSES OF ACTION AND LIABILITY OF EVERT' KIND.
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INCLUDING, BUT NOT LIMITED TO EXPENSES OF LITIGATION OR SETTLEMENT COURT COSTS
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CLAIMS FOR COPYRIGHT AND PATENT INFRINGEMENT, AND ATTORNEYS' FEES WHICH MAY
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ARISE DUE TO ANY DEATH OR INJURY TO A PERSON OR THE LOSS OF LOSS OF USE OF OR
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DAMAGE TO PROPERTY. ARISING OUT OF OR OCCURRING AS A CONSEQUENCE OF THE ACTS OR
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OMISSIONS OF THE LESSEE. AND ITS CONTRACTORS ON THE PROPERTY'
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ARTICLE XH.
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TAXES
Deleted:
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The Premises are currently exempt from property taxes because they belong to the City of
indemnif Lessor and the city of
Kennedale Economic Development Corporation. If the County's Central Appraisal District
Kennedale, and hold Lessor and the
determines that the property is taxable, Lessee agrees that it shall promptly pay any such taxes,
City of Kennedale harmless from all
claims for propert dama and
personal injury occurring on the
Premises during the term of this Lease.
ARTICLE XIII..
OPTION TO PURCHASE
Deleted: THE PARTNERSHIP, IN
PE ITS OBLIGA ,, [41
Deleted. for periods after the 5
13.01 Grant of Option to Purchase Lessor, for the consideration expressed in this
- d
Formatted t 1611
Lease, grants to Lessee an option to purchase the Premises and the property described in Exhibit
"C ",
Deleted: die
at the price and subject to the terms set forth in this Article. That portion of the Adjoining
Property not described in Exhibit "C" shall not be included in this purchase option and shall
Deleted:
remain the property of the Corporation to be used for public purposes. In the event Lessee
Formatt [7lj
purchases the Premises, Lessee agrees it will not change the name of the Premises from
Formatted $
"Kennedale TownCenter" without the written permission of essor
Formatte
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Formatted 11
�c and Se tti���,Ab hauVL c�c�l S�itni�sV'I�unpuru;' htl�mei IlleslC)I 1� 136V'To�wd enter (hound I erase RD GS_d�u 12i01ifi9
L
D
__14.01 11 events of default shall leted: (a) all be governed by Paragraph 11 of the Economic Deleted:
Development Agreement.
Deleted:
event of default hereunder shall mean: Deleted In the event of a default by the
,An Partnership with respect to any of its
obligations heremrder, and the failure,
(a) The party fails to comply with any obligation it has under this Agreement; after delivery of written notice of such I default from the Corporation, to cure such
default, then the Corporation may take
b ' the following action(s):Q
(_) The party fails to comply with any term of this Agreement, subject only to I
delays caused by Force Majeure; . (1) The corporation may terminate this
Agreement as it applies to uncompleted
phases of the Project.¶
(c) An occurrence of an Event of Bankruptcy or Insolvency. For purposes I
hereof, an "Event of Bankruptcy or Insolvency" shall mean if the a (2) The Corporation ma terminate the
p 1 ty Ground Lease as it applies to
makes an assignment for the benefit of creditors; or a receiver shall be uncompleted phases of the Project The
appointed for any of the assets of the party and such appointment is not Corporation may not terminate the !' Ground Lease with respect to the
terminated within ninety (90) days after such appointment is initially completed phases of the Project.
made; or the party is the subject of a bankruptcy or other insolvent However, with respect to any completed
Y or partially completed phases of the
proceeding and such proceeding shall not be dismissed within ninety (90) Project the Corporation shall have an
days after the filing thereof option to purchase the land within such
phase for fair market value (if owned by
the Partnership) or acquire the 1 12
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EXECUTED this day of , 2009. Formatted: Font: Bold
LESSOR: Deleted:
Deleted: (e)
IKENNEDALE ECONOMIC DEVELOPMENT CORPORATION Formatted. Font: Not Bold
'. Deleted:
Deleted: l
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BY: Formatted: Font: Not Bold
Robert hjtnldv, President Deleted:2
Formatted: Font: Not Bold
ATTEST: Deleted: 3
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peeleted: 12.. Mutual Assistance.
l Y I 1131 I
Secretary Formatted: Font: Not Bold
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\1Cennedale�AgreementslTo
wncema Grouease- RD 08.doe
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,C'.Apu uments and Scttin sl6ha,1 \Lgcal Siam �ffct r romry Intemet file \O L I 1 36(fo t udCr_Gmm�d L u,se - R D -08 d ot_ 13 /OIi09), I ace 9
-- S,
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THE PARTNERSHIP, IN PERFORMING ITS OBLIGATIONS UNDER THIS
AGREEMENT IS ACTING INDEPENDENTLY, AND THE CORPORATION
ASSUMES NO RESPONSIBILITIES OR LIABILITIES TO THIRD PARTIES IN
CONNECTION WITH THE PARTNERSHIP'S USE OR DEVELOPMENT OF
THE PROPERTY, PROJECT OR IMPROVEMENTS.
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for periods after the date of this Lease
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In the event of a default by the Partnership with respect to any of its obligations
hereunder, and the failure, after delivery of written notice of such default from the
Corporation, to cure such default, then the Corporation may take the following action(s):
(1) The Corporation may terminate this Agreement as it applies to uncompleted
phases of the Project.
(2) The Corporation may terminate the Ground Lease as it applies to uncompleted phases
of the Project. The Corporation may not terminate the Ground Lease with respect to the
completed phases of the Project. However, with respect to any completed or partially
completed phases of the Project, the Corporation shall have an option to purchase the
land within such phase for fair market value (if owned by the Partnership) or acquire the
leasehold interest for its fair market value (taking into account the value of the
Improvements paid for by the Partnership and the rental income). This option to
purchase must be exercised within 6 months of termination of the Ground Lease on
uncompleted phases, and is payable in cash at closing. If the Partnership is unable to
make payments on any liens against any completed or partially competed Improvements
such that a foreclosure is imminent, the Corporation shall have first right of refusal to
purchase the completed or partially completed Improvement and assume the bank loan,
(c) In the event that a notice and opportunity to cure is required by either party
following an event of default, then such opportunity to cure shall be not less than 30 days
from receipt of notice. Furthermore, no remedy shall be taken following such 30 day
period provided the defaulting party is diligently pursuing action to come into
compliance.
(d) Prior to either party exercising the remedies hereunder (except for an
extension of time for performance or some agreed resolution), the parties agree to
participate in a mediation to attempt to reach a satisfactory resolution of the issues. The
cost of such mediation shall be borne equally by the parties. The non - defaulting party
must send a request for mediation to the defaulting party prior to exercising any
remedies. That request may be simultaneous with the notice and opportunity to cure. If
the defaulting party refuses to participate in a mediation within 30 days of receipt of a
request for mediation by the non - defaulting party, then the non - defaulting party is free to
pursue available remedies (assuming the time period for notice and opportunity to cure
has passed.)
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12. Mutual Assistance.
The Partnership and the Corporation shall do all things reasonably 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.
13. Representations and Warranties.
The Partnership represents and warrants to the Corporation that it will not
knowingly or intentionally violate any federal, state or local laws in operating the Project
and that all proposed Improvements shall conform to the applicable building codes,
zoning ordinances and all other ordinances and regulations.
(i '' , x 1
Parties: This agreement is made and entered into by and between Kennedale
Economic Development Corporation (KEDC) and the City of Kennedale (City);
Purpose: The purpose of this Agreement is to state the terms and conditions under
which the KEDC will lease to the City a parcel of real property;
Property identified: Lot S, Kennedale TownCenter;
Consideration: In consideration of receiving a lease fee of $1.00 a year, USD, and
other good and valuable consideration, KEDC and the City of Kennnedale enter
into the following covenants and agreements pertaining to this real property;
Covenants: KEDC will lease said property to the City of Kennedale for $1.00 a
year for the next fifty years;
Venue: The obligations of the parties pursuant to this Agreement and performable
in Tarrant County, Texas, and if legal action is necessary to enforce same,
exclusive venue shall lie in Tarrant County;
Applicable laws: This Agreement is made subject to the provisions of applicable
state and federal laws. Further this agreement shall be governed by and construed
in accordance with the laws and court decisions of the State of Texas;
Severability: If any one or more of the provisions of this Agreement shall for any
reason be held invalid, illegal or unenforceable in any respect, such invalidity,
illegality or unenforceability shall not affect any other provision;
Binding Obligation: This Agreement shall become a binding obligation on the
signatories upon execution by all signatories hereto; Both parties warrant that each
party executing this Agreement has full authority to execute this Agreement;
EXECUTED AND AGREED TO by the City of Kennedale and KEDC, on this
the day of , 2009.
ACCEPTED: ACCEPTED: (City of Kennedale)
Bob Hart, City Manager
Dace Date
I= iy
To KEDC Board of Directors
Date: December 4, 2009
Agenda Item No: III -F
Subject: Review and consider action to change date and time of future meetings.
,. N :.
, M
To KEDC Board of Directors
Date: December 4, 2009
- 111 1 mum
Subject: Staff Announcements /Reports
Originated by: Kathy Turner, Secretary EDC
Summary: Board of Directors will receive announcements /reports from the following:
A. KEDC Executive Director
1. Industrial activity:
• 1000 E. Kennedale Parkway
• Grover Corporation
• Speed Fab -Crete
2. Kennedale TownCenter Activity
® Section House
0�
tW Page 1 of 2
4. 16" Water Line Extension
P6 �
5. Fallen Heroes Monument
B. Orasi Development Repoli
I iVIO—r 91 I'l I 1 - 1
�, Sat A � 0
�1,�,�� i..'r`Jal �J�av *.',
0 CAM
�
Page 2 of 2
1300 Summit Ave.
Suite 300
November 24, 2009
Fort Worth, TX
76102-4417
„ 817.877.0044
817.877.0418
mm.cmatx.com
Mr. Bob Hart
City Manager
COTY OF KENNEDALE
405 Municipal Drive
Kennedale, TX 76060
RE: Kennedale Union Pacific Section House
Renovation Budget Report
Dear Mr. Hart:
We want to thank you for giving CMA the opportunity to work with you and the City of
Kennedale to develop fundraising materials and a preliminary budget for restoration of the
Union Pacific Section House, We find this project very interesting and exciting, and we
applaud your efforts to save and restore this significant example of 19 century
architecture.
CMA has performed a basic investigation of the building, studied options for moving and
restoration and worked with consultants and contractors whose expertise includes similar
projects. The results of our study are included in this report, along with a preliminary
budget for the proposed work.
As we have discussed, there are several options outlined in the report. The options you
select will affect the overall cost of the project and determine the type of official historic
recognition the project might receive. Our goal is to provide you with the information you
need to select the options that best suit your needs, and to help you move forward with the
project.
We hope you will find this report helpful, and we encourage you to contact us with any
questions you might have. We look forward to working with you and the city to make this
Fort Worth, Tx
historic project a significant part of Kennedale's future.
Minneapolis, MN
Sincerely,
Dallas, TX
C.M. A HITECTURE, P.A.
Austin, TX
College Station, TX
Sam Austin, AIA
WSA/sa
cc: CMA (2)
Throughout the 1800s railroads became the primary means of transporting people and goods across the
United States. To support and maintain the development of rail transportation, the major railroads
constructed localized and regionalized facilities to support their operations. The Section House, or Section
Foreman's house provided living quarters in remote locations for those responsible for overseeing and
maintaining the tracks that formed the lifeline of this growing mode of transport.
The Union Pacific Railroad constructed such a facility in what is now Kennedale, Texas in or around 1886.
The section house was a modest structure of about 1,000 square feet, built just yards from the new tracks
that led from the south into the City of Fort Worth and on to the north. The single -story, wood - framed house
consisted of a simple, four -part plan organized around a central fireplace.
The exterior of the house was modest, but attractively styled.
Clad with wood lap siding and covered by a standing seam
metal roof, the house features many crafted details typical of
late 19 century homes. The simple design used divided light
double -hung windows, and included two covered porches with
simple railings and bracketed turned wood posts. The design
is highlighted by three gables, each with a unique "sunburst"
ornamentation. There are indications that the original design
included extensive use of Union Pacific's traditional yellow
color.
Although these section houses may have been constructed from a standardized plan book, the example
found in Kennedale seems to be historically significant, and somewhat unique in style. Across the country,
many of these buildings have been preserved and restored, and we feel that the example found in
Kennedale deserves recognition and careful restoration, as a significant piece of local railroad and
architectural history.
The original 1886 structure has been modified and expanded several times, partially obscuring its original
configuration. New roofing and siding materials were added, departing from the original materials and
finishes. Although these finishes are not original, they may have helped to preserve a record of the older
materials, colors and finishes beneath. Part of the restoration process would include removing the later
additions and uncovering and inspecting materials from the original construction date.
Mo .,
ard& -dure • planning � Wsftdesf n
Because the section house has been vacant for a significant length of time, damage and deterioration have
occurred. Most significantly, a fire damaged some of the attic and roof structure. This damage is reparable,
and does not appear to have weakened the structure to the extent that the building could not be moved. At
the time CMA made an initial investigation, much of the original ceiling and wall cladding had collapsed, and
was covering the floor. Due to this, the windows being boarded up and infestation by wasps, it was not
possible to complete all of the interior measuring, photography and assessment.
At this time, it does not appear that existing conditions found at the section house are serious enough to
prevent moving and restoring the structure. More extensive study of these conditions will be needed in
order to determine the extent of work required.
ILIA � ' � •- � - �'
The City of Kennedale has proposed that the structure be moved to a new site and restored to its original
configuration and condition. Following the initial survey of existing conditions, CMA consulted with Mr.
Gordon Marchant, AIA, whose experience includes numerous projects to restore historic architecture in
Texas, and Mr. Larry Frazier of the Fain Group, a contractor with significant experience in both moving and
restoring historic buildings. With the help of these consultants, we have prepared a preliminary budget for
the proposed work.
The budget is based on a restoration to be conducted under the guidelines and regulations of the Texas
Historical Commission and other agencies which may have influence on the restoration process. Since
there are a number of levels of historic recognition and restoration that may be sought, the budget must
contain some contingencies, to allow for flexibility.
The Texas Historical Commission normally does not support moving of historic structures, unless there are
factors that make such a move more desirable. In the case of the section house, the move will be a major
factor in preserving the architecture, and will give the structure a more prominent place in the community.
For these reasons, and since the house may already have been moved in the past, it is likely that the THC
would allow another move, and still sanction the restoration process.
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HISTORICAL DESIGNATION
The following information was derived from the Texas Historical Commission's published information, as
related to this project.
Historical designations are official recognitions of historic resources. In the case of the Union Pacific
Section House in Kennedale, the Texas Historical Commission offers two types of designations that might
apply. These designations were created to recognize and protect historic properties.
The National Register of Historic Places
This federal program is locally administered by the Texas Historical Commission in coordination with the
National Park Service. A listing in the National Register provides national recognition of a property's
historical or architectural significance and signifies it as being worthy of preservation. Buildings are eligible
for this designation if they are at least 50 years old and meet the program's established criteria. The THC
can provide a plaque for this designation, although it is not required.
The National Register designation does not in any way restrict property owners. If grant assistance or
federal tax credits are sought for the restoration, the project is required to adhere to federal standards.
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Projects with this designation receive extra consideration before any federal projects, such as highway
construction, are undertaken. Nominating a property for this designation requires consent of the owner.
Recorded Texas Historic Landmark
Under this program, Recorded Texas Historic Landmarks (RTHLs) are properties judged to be historically
and architecturally significant. To be awarded RTHL designation from the Texas Historical Commission a
building must be at least 50 years old, and must be judged worthy of preservation for its architectural and
historical associations.
This is a legal designation and comes with a measure of protection. RTHL is the highest honor the state
can bestow on a historic structure, and the designation is required for an RTHL marker. Purchasing and
displaying a historical marker is a required part of the RTHL designation process. Owners of RTHL -
designated structures must give the THC 60 days notice before any alterations are made to the exterior of
the structure. Unsympathetic changes to these properties may result in removal of the designation and
historical marker. Owner consent is required in order to nominate a building for this designation.
The Texas Historical Commission publishes a brochure on Recorded Texas Historic Landmarks, which
gives a complete explanation of the designation and its legal requirements.
RTHL Criteria
• Age: Buildings or other historic structures may be eligible for RTHL designation upon reaching
50 years of age. In some cases, structures older than 50 years that have been altered may be
eligible, if those alterations occurred at least 50 years ago and took place during a significant
period of the structure's history.
• Historical significance: The applicant must establish the historical significance of a structure.
through written and photographic documentation,
• Architectural integrity: The Texas Historical Commission reviews applications for RTHL
designation, considering not only the historic persons or events associated with a structure, but
also the architectural integrity of the building or structure. The structure should maintain its
appearance from its period of historical significance and should be an exemplary model of
preservation.
o THC states, `7n no case can a structure be considered for the RTHL designation if it has
been moved in the past 50 years or if artificial (aluminum, vinyl, asbestos, etc.) siding
applied to its exterior within the preceding 50 years covers and /or alters its historic
architectural materials or features." This ruling may be reconsidered by the THC if a
structure is being returned to its original appearance and configuration.
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PRELIMINARY BUDGET
Based on CMA's initial investigation and consultation with other team members, we provide the following
budget for the proposed moving and restoration of the Kennedale Union Pacific Section House. This
budget is based on available information, and is subject to refinement and revision as other information
becomes available and the City of Kennedale selects the approach to be taken and the level of state
recognition to be sought.
This preliminary budget is inclusive of the normal requirements encountered with historic restoration
projects, including preparation and presentation of materials that may be required by the Texas Historical
Commission for nomination under one of the historic designation programs outlined above.
Task Item Estimated Cost
Additional Architectural Investigation $ 4,080
Architectural Restoration Drawings $ 15,300
Consultant Drawings (Mechanical, Electrical and Plumbing $ 6,500
Construction Specifications $ 2,500
Construction Administration Services $ 7,500
Historic Designation Services (THC nomination and presentation) $ 20,000
Total Architectural and Consultant Services
Structure Relocation and Sitework $ 28,843
Historic Reconstruction and Restoration* $284,565
Estimated Total Budget $369,288
*CONCEPTUAL COST ESTIMATE
Refer to the attached, detailed conceptual cost estimate for more detailed information. This budget estimate
does not include reimbursable expenses, such as printing, deliveries, etc.
Depending on the historic designation sought for the project, additional consultant and restoration specialist
costs may also be required.
CMA is pleased to provide this report and preliminary budget for your use and consideration, We will gladly
revise and /or update this budget based on future changes to the scope of work, or services requested by
the City of Kennedale. Please do not hesitate to contact CMA with any questions or comments related to
this report.
Conceptual Estimate
Union Pacific Section House
Kennedale, TX
November 9, 2009
Unit of
Description Quantity Measure Unit Cost Total
Silework
House Relocation 1 LS $ 25,643.00 $ 25,643.00
Earthwork (Clearing 8 Grubbing) i LS $ 3,200.00 S 3,200.00
Silework Totals $ 28,843.00
Concrete
Foundation (Perimeter Grade Beam) 1,196 SF $ 15.00 S 17,940.00
Concrete Totals $ 17,940,00
Masonry
Brick (Foundation Concealment) 399 SF $ 20.00 S 7,980.00
5350/ thousand allowance
Mason Totals $ 7,980.00
Metals
Misc, Metals 1 LS S 1,800.00 S 1,800.00
Metal Totals $ 1,800.00
Carpentry
4
EA
S
753.00
S 3,012.00
Reframing of Structurally Unsound Material
598
SF
$
11.00
S 6,578.00
Framing Package
598
SF
S
8.50
$ 5
Exterior Clapboard Siding (Assume 30% Replacement)
1,064
SF
S
20.14
$ 21,428.96
Exterior Supports & Mouldings
1
LS
$
1,345.00
$ 1,345.00
Millwork (Plastic Laminate)
26
LF
S
250.00
S 6,500.00
Carpentry Totals
$ 40,934.96
Moisture Protection
Galvalume Standing Seam Roof 20.4 Sn S 612.00 S 12,484.80
Moisture Protection Totals $ 12,484.80
Doors d Windows
Wood Doors
4
EA
S
753.00
S 3,012.00
Hardware Set
6
EA
$
442.00
$ 2,652,00
Exterior Door
2
EA
$
2,765.00
$ 5,530.00
Window Assemblies
12
EA
S
1,100.00
$ 13,200.00
Door& Windows Totals 24,394.00
Finishes
14,00% 5
32,499.15
General Conditions
100% S
6,964.10
Bead Board Paneling (25% Replacement)
532
SF
S
15.65
S 8,325.80
VCT
420
5F
S
2.11
$ 886.20
Payment & Performance Bonds
87
SY
S
35.00
S 3,045.00
Carpet
1196
SF
S
9.00
$ 10,764.00
Plaster Ceilings
600
SF
S
10,13
$ 6,078.00
Ceramic Tile
3,975
SF
S
3,00
S 11,925-00
Painting
41,024.00
Finish Totals
sDeciallies
Fire Extinguishers 2 EA $ 375.00 S 750.00
Signage I LS $ 920.00 $ 920.00
Toilet PartilionslAccessories 1 LS $ 1,320.00 S 1,320.00
$ 2,990.00
Mechanical
Plumbing 1,195 SF $ 14.25 S 17,043.00
HVAC 1,196 SF S 10.00 S 11,960.00
Fire Protection (None Assumed) 0 SF S
Mechanical Totals
Electrical
Electrical 1,196 SF $ 15.00 $ 17,940.00
Data (Raceways Only) I LS S 3.215,00 $ 3,215-00
Fire Alarm 1.196 SF S 3.00 $ 3,588.00
Electrical Totals $ 24,743.00
Estimate Subtotals $ 232,136.76
Estimate Mark Ups
Estimate Total $ 313,407.84
14,00% 5
32,499.15
General Conditions
100% S
6,964.10
Overhead
5.00% s
11,606.84
Prorit
1.42% $
3,296,34
Permits
10.00% $
23,213.68
Contingency
1.59% S
3,690.97
Payment & Performance Bonds
$ 81,271M
Markup Totals
Estimate Total $ 313,407.84
To KEDC Board of Direetors
Date: December 3, 2009
Subject; President Announcements /Reports
Originated by: Kathy Turner, KEDC Secretary
Summary: President Announcements /Reports
1. Report agenda items to be posted for future meetings.
Recommendation:
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