2014_11.25 EDC Agenda Packet B
KENNEDALE
Kennedale Economic
Development Corporation
www.cityofkennedale.com
ECONOMIC DEVELOPMENT CORPORATION
AGENDA
BOARD OF DIRECTORS - REGULAR MEETING
November 25, 2014
CITY HALL COUNCIL CHAMBERS, 405 MUNICIPAL DRIVE
REGULAR SESSION - 7:00 PM
I. CALL TO ORDER
II. ROLL CALL
III. MINUTES APPROVAL
A. Consider approval of the minutes from the October 28, 2014 regular meeting.
IV. REGULAR ITEMS
A. Review and accept the KEDC Financial Report for September 2014.
B. Establish meeting schedule
V. STAFF ANNOUNCEMENTS/REPORTS
A. Updates and information from the Executive Director
1. Link Street, Burger King, Popeyes ribbon cutting
2. TIP Sidewalk Grant
3. Village Creek Flood Control Study
4. Chamber update
VI. EXECUTIVE SESSION
A. The Economic Development Corporation will meet in closed session pursuant to Section 551.072
of the Texas Government Code to deliberate the purchase, lease, or value of real property.
1. TownCenter Development
2. Purchase of property at 5409 Kennedale Street
3. Purchase of property at 5413 Kennedale Street
4. 601 Dick Price Road
VII. RECONVENE INTO OPEN SESSION, AND TAKE ACTION NECESSARY PURSUANT TO
EXECUTIVE SESSION, IF NEEDED
VIII.ADJOURNMENT
In compliance with the Americans with Disabilities Act, the City of Kennedale will provide for reasonable
accommodations for persons attending City Council meetings. This building is wheelchair accessible, and
parking spaces for disabled citizens are available. Requests for sign interpreter services must be made
forty-eight (48) hours prior to the meetings. Please contact the City Secretary at 817.985.2104 or (TDD)
1.800.735.2989
CERTIFICATION
I certify that a copy of the November 25, 2014, Kennedale Economic Development Corporation agenda was posted on the City Hall
bulletin board next to the main entrance of the City Hall building, 405 Municipal Drive, of the City of Kennedale, Texas, in a place
convenient and readily accessible to the general public at all times and said agenda was posted at least 72 hours preceding the
schedule time of said meeting,in accordance with Chapter 551 of the Texas Government Code.
D A (�' —
Kelly Co Cp#r, City Secretary
405 Municipal Drive, Kennedale, TX 76060 1 Telephone: 817.985.2102 1 Fax: 817-478-7169
B
KENNEDALE
Kennedale Economic
Development Corporation
www.cityofkennedale.com Staff Report to the Board of Directors
Date: November 25, 2014
Agenda Item No: MINUTES APPROVAL-A.
I. Subject:
Consider approval of the minutes from the October 28, 2014 regular meeting.
II. Originated by:
Bob Hart
III.Summary:
Minutes are prepared by the board secretary and ready for your approval.
IV. Recommendation:
Approve
V. Alternative Actions:
VI. Attachments:
1. JEDC October 28, 2014 Minutes JEDC Minutes. 10.28.2014.docx
j(
KENNEDALE
Kennedale Economic
Development Corporation
www.cityofkennedale.com ECONOMIC DEVELOPMENT CORPORATION
BOARD OF DIRECTORS - REGULAR MEETING
MINUTES
October 28, 2014
I. CALL TO ORDER
Robert Mundy called the meeting to order at 7:OOPM
II. ROLL CALL
Present: Pat Turner, Robert Mundy, Mark Yeary, Mike Johnson, Adrienne Kay, Rebecca Mowell, Ronald
Whitley
Absent:
Staff Present: Sakura Moten-Dedrick, Jack Thompson (Orasi Development)
III. MINUTES APPROVAL
A. Consider approval of the minutes from the September 23, 2014 regular meeting.
Motion To approve the minutes as presented. Action Approve, Moved By Adrienne Kay Seconded By Pat
Turner
Motion Passed 6-0; Mark Yeary abstaining.
IV. REGULAR ITEMS
A. Review and accept the KEDC Financial Report for August 2014.
City Finance Director Sakura Moten-Dedrick provided the staff report.
No action was required.
V.STAFF ANNOUNCEMENTS/REPORTS
A. Updates and information from the Executive Director
1. Link Street, Burger King, Popeye's ribbon cutting
2. TIP Sidewalk Grant
3. TownCenter
4. NCTCOG Comprehensive Economic Strategies Plan
5. Chamber update
6. Bloxom Park
Jack Thompson provided brief updates on the listed topics, focusing on the completion of Link Street, ribbon
cutting, sidewalk grant, as well as TownCenter, Chamber and Bloxom Park updates were provided. No
action was necessary.
Board Officer appointed: Robert Mundy for President.
Motion To approve appointment. Action Approve, Moved By Becky Mowell Seconded By Pat Turner
Motion Passed Unanimously.
Board Officer appointed: Mark Yeary for Vice President.
Motion To approve appointment. Action Approve, Moved By Becky Mowell Seconded By Pat Turner
Motion Passed Unanimously.
President Mundy recessed the meeting into executive session at 7:51 PM.
VI. EXECUTIVE SESSION
A. The Economic Development Corporation will meet in closed session pursuant to Section 551.072 of
the Texas Government Code to deliberate the purchase, lease, or value of real property.
1. Purchase of property at 5417 Highridge.
2. Purchase of property at 5413 Highridge.
B. 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 project
with whom the city is conducting economic development negotiations.
1. Discuss development incentives at 1020 Bowman Springs Road.
VII. RECONVENE INTO OPEN SESSION,AND TAKE ACTION NECESSARY PURSUANT TO
EXECUTIVE SESSION, IF NEEDED
President Mundy reopened the regular session at 8:04PM.
No Action was required.
VIII.ADJOURNMENT
Motion Adjourn. Action Adjourn, Moved By Mark Yeary, Seconded By Ron Whitley.
Motion Passed Unanimously
The meeting was adjourned at 8:05PM.
APPROVED: ATTEST:
President Robert Mundy City Secretary Kelly Cooper
B
KENNEDALE
Kennedale Economic
Development Corporation
www.cityofkennedale.com Staff Report to the Board of Directors
Date: November 25, 2014
Agenda Item No: REGULAR ITEMS-A.
I. Subject:
Review and accept the KEDC Financial Report for September 2014.
II. Originated by:
Sakura Moten-Dedrick, Director of Finance& IT
III.Summary:
Please see the attached information.
IV. Recommendation:
Approve
V. Alternative Actions:
VI. Attachments:
1. JEDC Financials 120141125 EDC Sep 14 Financials.pdf
SEP 2014 ECONONHC DEVELOPMENT CORPORATION FINANCIALS
Budget/Amendment
No changes.
Year-To-Date
• Ad Valorem Tax: Increase in comparison over this time last year. Based on tax receipts
received from assessments.
• Sales/Beverage Tax: Increase in comparison over this time last year (see Monthly Graph, 3-
Year Historical Graph, 10-Year Historical Data). Please note, sales tax receipts run two
months in arrears.
• Investment Earnings: Decrease in comparison over this time last year. Based on record low
earning rates and decrease in cash balance.
• Miscellaneous Income: Increase in comparison over this time last year.
• Surplus Sales/Rentals: Decrease in comparison over this time last year. Approximately $8400
a month lost due to Surplus Warehouse closure beginning Feb 2014.
• Transfers: No significant change.
• Personnel: No significant change.
• Supplies: Decrease in comparison over this time last year.
• Maintenance: Decrease in comparison over this time last year.
• Sundry: Decrease in comparison over this time last year.
• Debt: No significant change. Based on amortization schedules.
• Transfers: No significant change.
• Capital: Decrease in comparison over this time last year.
Estimate
For FY13/14, the anticipated ending fund balance is $373,654. This is $224,303 operations / $29,429
capital bond project/$119,922 reserve bond.
1,066,682 1,066,682 656,760 656,760 1,103,880 1,103,880 1,533,694
=S (942,275) (942,275) (1,096,620) (1,096,620) (612,657) (612,657) (522,420)
iSS) 124,407 124,407 (439,860) (439,860) 491,223 491,223 1,011,274
ES/(EXPENSES)
250 250 471 471 645 645 12
(151,619) (151,619) (151,619) (151,619) (155,118) (155,118) (155,119)
/(LOSS) (26,962) (26,962) (591,007) (591,007) 336,750 336,750 856,167
CE $ 26,452 $ 35,926 $ 35,926 $ 35,926 $ (306,400) $ (555,081) $ (555,081)
(EXCLUDING OTHER FUNDS) $ (510) $ 8,964 $ (555,081) $ (555,081) $ 30,350 $ (218,331) $ 301,085
$ 120,066 $ 120,062 $ 119,903 $ 119,903 $ 119,966 $ 119,955 $ 119,922
FUND $ - $ 46,182 $ 29,411 $ 29,411 $ 13,357 $ 4,411 $ 29,429
(INCLUDING OTHER FUNDS) $ 119,556 $ 175,208 $ (405,767) $ (405,767) $ 163,673 $ (93,965) $ 450,436
:E $ 26,452 $ 35,926 $ 35,926 $ 35,926 $ (306,400) $ (555,081) $ (555,081) $ (555,081) $ 32;;
42,466 42,466 42,167 42,167 23,132 23,132 52,329 52,329 (1 S
397,660 397,660 297,348 297,348 305,808 305,808 325,630 325,630 (9-
250 250 471 471 645 645 12 12
395,000 395,000 117,255 117,255 600,000 600,000 1,005,784 1,005,784 20:
231,556 231,556 199,990 199,990 174,940 174,940 149,950 149,950 (5t
$ 1,066,932 $ 1,066,932 $ 657,231 $ 657,231 $ 1,104,525 $ 1,104,525 $ 1,533,706 $ 1,533,706 $ 37
17,344 17,344 11,259 11,259 3,100 3,100 - - (1
22,856 22,856 32,094 32,094 30,240 30,240 26,036 26,036
265,771 265,771 271,101 271,101 213,130 213,130 269,205 345,989 (5:
165,757 165,757 167,188 167,188 186,187 186,187 167,937 167,937 2(
151,619 151,619 151,619 151,619 155,118 155,118 155,119 155,119
470,548 470,548 614,978 614,978 180,000 180,000 59,241 59,241 (29(
$ 1,093,894 $ 1,093,894 $ 1,248,239 $ 1,248,239 $ 767,775 $ 767,775 $ 677,539 $ 754,322 $ (326
U RES $ (26,962) $ (26,962) $ (591,007) $ (591,007) $ 336,750 $ 336,750 $ 856,167 $ 779,384
$ (510) $ 8,964 $ (555,081) $ (555,081) $ 30,350 $ (218,331) $ 301,085 $ 224,303
XP 0.0% 0.8% -44.5% -44.5% 4.0% -28.4% 44.4% 29.7%
1T) $ - $ - $ - $ - $ - $ - $ - $ -
ALL) $ (510) $ 8,964 $ (555,081) $ (555,081) $ 30,350 $ (218,331) $ 301,085 $ 224,303
$ 397,660 $ 397,660 $297,348 $ 297,348 $ 305,808 $ 305,808 $ 325,630 $ 325
250 250 471 471 645 645 12
$ 250 $ 250 $ 471 $ 471 $ 645 $ 645 $ 12 $
395,000 395,000 106,313 106,313 600,000 600,000 987,156 987
)GRAM - - - - - - -
�TS - - 10,943 10,943 - - 18,628 18
$ 395,000 $ 395,000 $117,255 $ 117,255 $ 600,000 $ 600,000 $1,005,784 $1,005
NTER 227,556 227,556 198,206 198,206 166,440 166,440 145,091 145
4,000 4,000 1,784 1,784 8,500 8,500 4,859 4
$ 231,556 $ 231,556 $199,990 $ 199,990 $ 174,940 $ 174,940 $ 149,950 $ 149
:ASE - - - - - - -
$ 1,066,932 $1,066,932 $657,231 $ 657,231 $ 1,104,525 $1,104,525 $1,533,706 $1,533
VG INTEREST/TRANSFERS) $ 1,066,682 $1,066,682 $645,818 $ 645,818 $ 1,103,880 $1,103,880 $1,515,066 $1,515
=RAL FUND 106,668 106,668 64,582 - 110,388 110,388 151,507 151
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CE
INSURANCE - - - - - - - -
,NCE - - - - - - - -
CE
(TERM/LEAVE ADJ - - - - - - - -
300 300 - - - - - -
16,544 16,544 11,259 11,259 3,000 3,000 - -
SUPPLIES 250 250 - - 50 50 - -
250 250 - - 50 50 - -
AALL TOOLS<$5K - - - - - - - -
'PLIES - - - - - - - -
$ 17,344 $ 17,344 $ 11,259 $ 11,259 $ 3,100 $ 3,100
=NANCE - - - - - - - -
)FTWARE MAINT - - - - - - - -
5,000 5,000 6,604 6,604 - - 3,616 3,616
3LICATIONS 9,775 9,775 10,985 10,985 3,150 3,150 3,614 3,614
ERVICES - - - - - - - -
ARS 1,000 1,000 270 270 1,000 1,000 - -
16,000 16,000 100 100 5,000 5,000 250 250
1,500 1,500 1,500 1,500 2,000 2,000 2,000 2,000
:S 49,036 49,036 74,304 74,304 51,600 51,600 56,485 56,485
AL - - - - - - - -
700 700 186 186 700 700 - -
RVICES 50,000 50,000 18,999 18,999 10,000 10,000 12,855 12,855
ICES - - - - - - - -
-GENERAL FUND 106,668 106,668 - - 110,388 110,388 136,947 213,730
$ 239,679 $ 239,679 $112,948 $ 112,948 $ 183,838 $ 183,838 $215,768 $ 292,551 $
- - 6,000 6,000 - - - -
ANT - - - - - - - -
$ - $ - $ 6,000 $ 6,000 $
�ENERAL FUND - - - - - - - -
EDICATION FUND - - - - - - - -
DC RESERVE FUND - - - - - - - -
- - 1,662 1,662 - - 47,184 47,184
'.ANCE SIGN 45,000 45,000 - - - - - -
VEMENT - - - - - - - -
FEES - - - - - - - -
BOND-INTEREST 71,585 71,585 71,531 71,531 68,806 68,806 68,766 68,766
BOND-PRINCIPAL 40,000 40,000 40,000 40,000 45,000 45,000 45,000 45,000
VERAGE-INT 19,359 19,359 17,702 17,702 18,210 18,210 18,218 18,218
VERAGE-PR I 34,813 34,813 31,954 31,954 54,171 54,171 35,953 35,953
$ 165,757 $ 165,757 $161,188 $ 161,188 $ 186,187 $ 186,187 $167,937 $ 167,937 $
)EBT SERVICE FUND 151,619 151,619 151,619 151,619 155,118 155,118 155,119 155,119
$ 151,619 $ 151,619 $151,619 $ 151,619 $ 155,118 $ 155,118 $155,119 $ 155,119 $
URES $ 317,376 $ 317,376 $312,806 $ 312,806 $ 341,305 $ 341,305 $323,056 $ 323,056 $
'ENANCE 22,856 22,856 32,094 32,094 30,240 30,240 26,036 26,036
$ 22,856 $ 22,856 $ 32,094 $ 32,094 $ 30,240 $ 30,240 $ 26,036 $ 26,036 $
BLICATIONS - - - - - - - -
SERVICES - - - - - - - -
-ES 4,200 4,200 5,012 5,012 5,000 5,000 4,439 4,439
)PERTY 4,000 4,000 8,476 8,476 8,500 8,500 10,075 10,075
ES 17,892 17,892 17,938 17,938 15,792 15,792 16,371 16,371
$ 26,092 $ 26,092 $ 31,426 $ 31,426 $ 29,292 $ 29,292 $ 30,885 $ 30,885 $
URES $ 48,948 $ 48,948 $ 63,521 $ 63,521 $ 59,532 $ 59,532 $ 56,922 $ 56,922 $
:7N SERVICES - - - - - - - -
RVICES - - 2,550 2,550 - - - -
$ - $ - $ 2,550 $ 2,550 $ - $
30,000 30,000 44,632 44,632 30,000 30,000 - -
$ 30,000 $ 30,000 $ 44,632 $ 44,632 $ 30,000 $ 30,000
$ 30,000 $ 30,000 $ 47,182 $ 47,182 $ 30,000 $ 30,000
- - 568,684 568,684 150,000 150,000 12,057 12,057
395,548 395,548 - - - - - -
$ 395,548 $ 395,548 $ 568,684 $ 568,684 $ 150,000 $ 150,000 $ 12,057 $ 12,057 $
$ 395,548 $ 395,548 $ 692,861 $ 692,861 $ 150,000 $ 150,000 $ 34,609 $ 34,609 $
BUDGET AMENDED YTD SEP ACTUAL PROPOSED AMENDED YTD SEP ESTIMATE CHANGE
MCE $ - $ 46,182 $ 46,182 $ 46,182 $ 38,357 $ 29,411 $ 29,411 $ 29,411
- - 100 100 - - 18 18
$ - $ - $ 100 $ 100 $ - $ - $ 18 $ 18 $
- - 6,779 6,779 - - - -
- - 10,091 10,091 25,000 25,000 - - 25,001
$ - $ - $ 16,871 $ 16,871 $ 25,000 $ 25,000 $ - $ - $ 25,001
IDITURES $ - $ - $ (16,770) $ (16,770) $ (25,000) $ (25,000) $ 18 $ 18
E $ - $ 46,182 $ 29,411 $ 29,411 $ 13,357 $ 4,411 $ 29,429 $ 29,429
>F EXP N/A N/A 174.3% 174.3% 53.4% 17.6% N/A N/A
RENT) $ - $ - $ - $ - $ - $ - $ - $ -
iRTFALL) $ - $ 46,182 $ 29,411 $ 29,411 $ 13,357 $ 4,411 $ 29,429 $ 29,429
'ITAL BOND FUND - - - - - - - -
100 $ 100 $ - $ - $ 18 $ 18 $
ID
MENT
FY12-13 FY12-13 FY12-13 FY12-13 FY13-14 FY13-14 FY13-14 FY13-14 C
BUDGET AMENDED YTD SEP ACTUAL PROPOSED AMENDED YTD SEP ESTIMATE Cl
ENANCE - - - - - - - -
AIRS - - - - - - - -
:7N SERVICES - - - - - - - -
RVICES - - 6,779 6,779 - - - -
$
6,779 $ 6,779
- - 10,091 10,091 25,000 25,000 - -
$ - $ - $ 10,091 $ 10,091 $ 25,000 $ 25,000
)RES $ - $ - $ 16,871 $ 16,871 $ 25,000 $ 25,000
BUDGET AMENDED YTD SEP ACTUAL PROPOSED AMENDED YTD SEP ESTIMATE CHANGE
LANCE $ 119,866 $ 119,862 $ 119,862 $ 119,862 $ 119,914 $ 119,903 $ 119,903 $ 119,903
;S 200 200 41 41 52 52 19 19 (148)
$ 200 $ 200 $ 41 $ 41 $ 52 $ 52 $ 19 $ 19 $ (148)
:NDITURES $ 200 $ 200 $ 41 $ 41 $ 52 $ 52 $ 19 $ 19
CE $ 120,066 $ 120,062 $ 119,903 $ 119,903 $ 119,966 $ 119,955 $ 119,922 $ 119,922
OFEXP N/A N/A N/A N/A N/A N/A N/A N/A
Q U I R EM E N T) $ 1 12,606 $ 1 12,606 $ 1 12,606 $ 1 12,606 $ 1 12,606 $ 1 12,606 $ 1 12,606 $ 1 12,606
ORTFALL) $ 7,460 $ 7,456 $ 7,297 $ 7,297 $ 7,360 $ 7,349 $ 7,316 $ 7,316
EARNINGS $ 200 $ 200 $ 41 $ 41 $ 52 $ 52 $ 19 $ 19 $
-EDC FUND - - - - - - - -
'CY $ - $ - $ - $ - $ - $ - $ - $ - $
IUES $ 200 $ 200 $ 41 $ 41 $ 52 $ 52 $ 19 $ 19 $
FY12-13 FY12-13 FY12-13 FY12-13 FY13-14 FY13-14 FY13-14 FY13-14 CY -
WE BUDGET AMENDED YTD SEP ACTUAL PROPOSED AMENDED YTD SEP ESTIMATE CHAS
JT-EDC FUND - - - - - - - -
DITURES $ - $ - $ - $ - $ - $ - $ - $ - $
B
KENNEDALE
Kennedale Economic
Development Corporation
www.cityofkennedale.com Staff Report to the Board of Directors
Date: November 25, 2014
Agenda Item No: REGULAR ITEMS- B.
I. Subject:
Establish meeting schedule
II. Originated by:
Bob Hart
III.Summary:
Bob Hart will discuss date and time options for future EDC meetings.
IV. Recommendation:
Approve
V. Alternative Actions:
VI. Attachments:
B
KENNEDALE
Kennedale Economic
Development Corporation
www.cityofkennedale.com Staff Report to the Board of Directors
Date: November 25, 2014
Agenda Item No: STAFF ANNOUNCEMENTS/REPORTS-A.
I. Subject:
Updates and information from the Executive Director
1. Link Street, Burger King, Popeyes ribbon cutting
2. TIP Sidewalk Grant
3. Village Creek Flood Control Study
4. Chamber update
II. Originated by:
Bob Hart
III.Summary:
The Director will provide an update on these items.
IV. Recommendation:
None
V. Alternative Actions:
VI. Attachments:
B
KENNEDALE
Kennedale Economic
Development Corporation
www.cityofkennedale.com Staff Report to the Board of Directors
Date: November 25, 2014
Agenda Item No: EXECUTIVE SESSION -A.
I. Subject:
The Economic Development Corporation will meet in closed session pursuant to Section 551.072 of the Texas
Government Code to deliberate the purchase, lease, or value of real property.
1. TownCenter Development
2. Purchase of property at 5409 Kennedale Street
3. Purchase of property at 5413 Kennedale Street
4. 601 Dick Price Road
II. Originated by:
Bob Hart
III.Summary:
IV. Recommendation:
None
V. Alternative Actions:
VI. Attachments: