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06.22.2010 EDC Minutes343 MINUTES KENNEDALE ECONOMIC DEVELOPMENT CORPORATION BOARD OF DIRECTORS REGULAR MEETING — JUNE 22, 2010 405 MUNICIPAL DR. — KENNEDALE MUNICIPAL BLDG. COUNCIL CHAMBERS I. CALL TO ORDER President Mundy called the meeting to order at 7:17 p.m. II. ROLL CALL Kathy Turner, Secretary called roll with the following persons present/absent: Present: Absent: Robert Mundy President Donnie Graham Vice- President Beverly Hayes Board Member Rebecca Mowell Board Member Darrell Erwin Board Member Mark Yeaiy Board Member Doug Parker Board Member Staff members present included: Bob Hart Executive Director Sakura Moten - Dedrick Treasurer Kathy Turner Secretary Drew M. Martin Orasi Development — Contract Provider III. PUBLIC HEARING President Mundy opened the public hearing to receive citizens input regarding the Kennedale Economic Development Corporation's intent to participate in "Projects," as defined in the Development Corporation Act of 1979, as amended, Texas Revised Civil Statutes Annotated Article 5190.6, including, but not limited to, designing, acquiring, improving, and operating the following: 1) "TownCenter Project," Operations/Management /Marketing of a "mid- city" downtown district including but not limited to the commercial, medical, retail, and (New Urbanism style, typically higher density / multi- storied) residential growth of TownCenter Kennedale and its surrounding area; 2) "Redevelopment Project," The development of new and renovation of existing commercial /residential and municipal / KEDC projects designed to enhance Kennedale's lifestyle and quality of life; 344 3) "TownCenter Beautification Project," The further development /beautification /landscaping/ upgrading of the TownCenter Kennedale area and its adjoining TCK Plaza; 4) "Arts Project," The planning, implementation, and operation of Civic / City Events and establishment of a City /TCK Public Arts Program; 5) "Sign Project," The construction of a new Kennedale Entranceway Monument Sign at a site TBD; 6) "Parkway Project," The creation & implementation of Kennedale Parkway, Village Creek, and I -20 commercial and residential Urban Renewal / Development/Redevelopment / Revitalization / Beautification plans / Kennedale Parkway Landscape Median and actual projects derived from these plans; 7) "Development Project," The Creation of a Tax Increment Financing District(s) (TIF) and Municipal Management District (MMD) including Consultation, Planning, Legal, and Engineering Services; 8) "Branding Project," A Kennedale Marketing and Implementation Plan aimed at City Branding and attracting new Kennedale projects and businesses; 9) "Grant Project," The continuation of the existing Revitalization Grant Program and funding; 10) "Industrial Expansion Project," Industrial expansion and recruitment program, including loans and land leases. 1 1) "Industrial Recruitment Project," The recruitment of new and retention of existing Kennedale industrial businesses and development /redevelopment of industrial park(s); including but not limited to rail spurs, infrastructure, and office parks, etc; 12) "Transit Project," The attraction and development of DFW Metroplex area commuter transit / light rail / mass transportation services including the development of a Kennedale rail station and related improvements; 13) "Landbank Project," The purchase / leasing / sale or other means of transfer of real estate land and properties for the accomplishment of the above designated projects; 14) "Financing Project," The issuance, purchase, sale, or other means of transfer of Bonds and other debt instruments designed to fund the above objectives including, but not limited to implementing a Tax Increment Financing (TIF) District / Municipal Management District (MMD) and mixed -use project(s) development/redevelopment; 15) "Community Grant Project," The implementation of an E -Civis Grant Writing Program; 16) "Staff Support Project," Contractual staff services (Orasi Development); and 17) "Administrative Project," All necessary services and related expenses for the above projects including but not limited to project master- planning; engineering; alternate energy sources; project advertising / marketing; related consultant and legal services; new 345 construction / remodeling / maintenance of landscaping, roadways, City / KEDC owned or leased buildings, and their related improvements. President Mundy indicated that the above listed projects would require expenditure of funds collected from the 4B sales tax for Fiscal Year 2010 -2011, and if the KEDC Board of Directors recommended approval of such projects, the City Council would act on the recommendation at their regularly scheduled meeting on the 9th day of September 2010. Bob Hart, City Manager and Executive Director recommended that the board consider adding to project number 14, the Texas Leverage Fund. There being no other comments and /or persons registered to speak for or against any projects, President Mundy closed the public hearing at 7:22 p.m. IV. REGULAR ITEMS A. Review and consider action to approve regular meeting minutes dated May 18, 2010. Rebecca Mowell moved to approve regular meeting minutes dated May 18, 2010, second by Darrell Erwin. Mowell, Erwin, and Mundy voted aye, while Graham abstained due to absence of meeting. Motion carried (4 -1 -0). B. Review KEDC Financial Reports. Sakura Moten - Dedrick, Director of Finance and Treasurer addressed the financial reports for the month ending in April 2010. Ms. Dedrick indicated that sales tax had increased significantly due to retail, oil and gas activities, but collections were down compared to last year. She then briefly spoke on expenses related to the TownCenter and indicated that the overall fund balance would end where projected. C. Review and consider authorizing Executive Director to sign an agreement with Shield Engineering Group to provide Construction Phase Services at the TownCenter in an amount not to exceed $8,500. Darrell Erwin moved to authorize the Executive Director to sign an agreement with Shield Engineering Group to provide Construction Phase Services at the TownCenter in an amount not to exceed $8,500, second by Donnie Graham. Motion carried (5 -0). D. Review and consider action to change date and time of future meetings. Board members discussed the July 20th meeting date and determined that there was no need for rescheduling. However, it was noted that Board Member, Beverly Hayes would not be in attendance due to a conflict. V. STAFF ANNOUNCEMENTS/REPORTS A. KEDC Executive Director Announcement /Reports Bob Hart, Executive Director provided updates on the following: 346 1. Fallen Heroes Monument — Met with the City of Arlington and Environmental Group in regards to the re- alignment of Bowman Springs Road. Project is moving forward with a 5 -lane roadway planned with expansion on the east side of the roadway. 2. TownCenter - Development of the TownCenter is progressing as planned. Looking at installing high energy efficient lamps in the parking area to help reduce electrical cost with costs savings expected within the first year. 3. SW City Development - Met with a residential developer in regards to potential development in the southern part of the city limits. B. Orasi Development Report 1. ICSC — Drew A. Martin, EDC Contract Provider briefed the board on the recent ICSC Conference. Mr. Martin indicated that the trip was successful, attendance was up, and demographic materials were being sent out to various companies. VI. PRESIDENT/BOARD ANNOUNCEMENTS /REPORTS A. President Announcements /Reports 1. Report agenda items to be posted for future meetings With no agenda items reported and no further discussion, President Mundy recessed the meeting at 7:47 p.m. to enter into executive session. VII. EXECUTIVE SESSION A. The Economic Development Corporation will meet in closed session pursuant to Section 551.087 of the Texas Government Code to deliberate the offer of a financial or other incentive to a business prospect with which the city is conducting economic development negotiations. 1. Acquisition of Real Property • 1000 E. Kennedale Parkway • 5500 W. Kennedale Parkway 2. Texas Leverage Fund for Grover Corporation VIII. RECONVENE INTO OPEN SESSION AND TAKE ACTION PURSUANT TO EXECUTIVE SESSION, IF NECESSARY. President Mundy reconvened into open session at 8:40 p.m. Beverly Hayes moved to authorize the Executive Director to acquire property as discussed in executive session, second by Darrell Erwin. Motion carried (5 -0). 347 IX. ADJOURNMENT There being no further discussion, President Mundy asked for a motion to adjourn. Donnie Graham so moved and Beverly Hayes seconded the motion with all members present voting in favor. Motion carried (5 -0). Meeting adjourned at 8 :41 p.m. ATTEST: Kathy Turn r, Secretary to EDC APPROVED: 7 \\ President, Robert Myidy°'