01.12.2010 EDC Minutes325
MINUTES
KENNEDALE ECONOMIC DEVELOPMENT CORPORATION
BOARD OF DIRECTORS
REGULAR MEETING — JANUARY 12, 2010
405 MUNICIPAL DR. — KENNEDALE MUNICIPAL BLDG.
COUNCIL CHAMBERS
I. CALL TO ORDER
President Mundy called the meeting to order at 7:16 p.m.
II. ROLL CALL
President Mundy noted that the following board members were present/absent:
Present:
Absent:
Robert Mundy President
Donnie Graham Vice - President
Mark Yeary Board Member
Rebecca Mowell Board Member
Doug Parker Board Member — arrived at 7:45 p.m.
Beverly Hayes
Darrell Erwin
Staff members present included:
Board Member
Board Member
Bob Hart Executive Director
Sakura Moten - Dedrick Treasurer
Jack Thompson Orasi Development
III. REGULAR ITEMS
A. Review and consider action to approve regular meeting minutes dated December 7, 2009.
Mark Yeary moved to approve regular meeting minutes dated December 7, 2009 as
presented, second by Rebecca Mowell. Motion carried.
B. Review KEDC Financial Reports.
Sakura Moten - Dedrick, Treasurer and Director of Finance addressed the November 2009
KEDC Financial Reports, which included year to date summary, investment income, rental
income, personnel costs, supplies, services, capital, and TownCenter Redevelopment.
Donnie Graham moved to approve the November 2009 Financial Reports as presented,
second by Mark Yeary. Motion carried with all present voting in favor.
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L'. Review and consider action to submit Petition to MMD for financing improvements and
maintenance of properties located within the Kennedale Retail Center Addition.
Rebecca Mowell moved to accept Petition and submit recommendation to the MMD Board
of Directors for approval to allow for financing improvements and to impose a maintenance
assessment of properties located within the Kennedale Retail Center Addition. Donnie
Graham seconded the motion, and all members present voted in favor. Motion carried.
D. Review and consider action to approve Resolution No. 4, of the Kennedale Economic
Development Corporation approving a Project Agreement with the City of Kennedale,
Texas with respect to the Issuance of the City's Combination Tax and Revenue Certificates
of Obligation, Series 2010.
Mark Yeary moved to approve Resolution No. 4 of the Kennedale Economic Development
Corporation approving a Project Agreement with the City of Kennedale, Texas with respect
to the Issuance of the City's Combination Tax and Revenue Certificates of Obligations,
Series 2010, and forwards a recommendation to City Council to consider such. Rebecca
Mowell moved to second the motion, and motion passed unanimously with all members
present voting in favor. Motion carried.
Review and consider action to authorize President to sign necessary easement documents
for the TownCenter Project.
Donnie Graham moved to authorize the KEDC President to sign the necessary water line
and /or sewer line easement documents for the development of the TownCenter, second by
Mark Yeary. Motion carried with all members present voting in favor.
Review and consider action to change date and time of future meetings.
It was noted that the regularly scheduled meeting for February 16 would remain as
scheduled.
IV. STAFF ANNOUNCEMENTS/REPORTS
A. KEDC Executive Director Announcement/Reports
Bob Hart, City Manager/Executive Director provided an update on the following:
1. Industrial activity:
• 1000 E. Kennedale Parkway — Bob Hart, Executive Director advised that the
referenced property is owned by the City in a trust, and that several buildings
would be removed from the property. He additionally spoke of two businesses
that have expressed an interest in the property and possibly relocating and /or
expanding their business to this site.
• Grover Corporation — Bob Hart, Executive Director addressed future business
relocation of Grover Corporation within the city.
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2. Kennedale TownCenter activity
• 9 -11 Monument — Bob Hart, Executive Director indicated that the City had
received approval to receive a portion of a steel beam from the World Trade
Center, and questioned board members on their preference of where beam should
be located. Hart indicated a questionnaire would be sent out, in which he would
need to address the location of beam placement prior to shipment.
• Section House — Bob Hart, Executive Director advised that discussions are in
place with the Historical Commission in regards to the restoration of the Section
House to obtain a historical monument. Also, Hart said that the Section House
relocation would be in September, then restoration would follow, and additional
information would be brought back before the board at that time.
• Bid Activity — Bob Hart, Executive Director said that One Million had been set
aside for the 16" water line, and bids were let, which came in at 600,000.00.
Hart indicated that the remaining balance would be utilized to proceed with the
water /sewer line extension in Oakcrest to serve the future QuikTrip.
W. STAFF ANNOUNCEMENTS/REPORTS CONTINUED
3. 16" Water Line Extension — Mr. Hart addressed this item under 2 — Bid Activity.
4. Oak Crest Development — Mr. Hart addressed this item under 2 — Bid Activity.
5. Fallen Heroes Monument — Bob Hart, Executive Director indicated the Fallen Heroes
Monument would be located in Kennedale, and was scheduled to go before the City
Council in February for consideration with an announcement due in March. Hart
then explained the transfer of property between the City and EDC, and what actions
were necessary to accomplish such.
B. Orasi Development Report
V. PRESIDENT/BOARD ANNOUNCEMENTS/REPORTS
A. President Announcements /Reports
1. Report agenda items to be posted for future meetings.
No report of agenda items to be posted for future meetings.
VI. ADJOURNMENT
There being no further discussion, President Mundy asked for a motion to adjourn.
Doug Parker so moved and Mark Yeary seconded the motion with all members present voting in
favor. Motion carried (5 -0). Meeting adjourned at 8:23 p.m.
ATTEST:
Kathy Turner, EDC Secretary
APPROVED:
President, Ro ert Mundy