2015_06.11 EDC MinutesECONOMIC DEVELOPMENT CORPORATION
BOARD OF DIRECTORS - REGULAR MEETING
MINUTES
June 11, 2015
CALL TO ORDER
President Robert Mundy called the meeting to order at 12:01 p.m.
ROLL CALL
Present: Robert Mundy, Mike Johnson, Pat Turner, Mark Yeary and Rebecca Mowell
Absent: Adrienne Kay and Ron Whitley
Staff Present: Bob Hart, Carolyn Marshall, Kathy Moore, and Jack Thompson with Orasi
Development/Chamber of Commerce
III. MINUTES APPROVAL
A. Consider approval of the minutes from the May 14, 2015 regular meeting
Motion: To approve the May 14, 2015 regular meeting minutes. Action: Approve, Moved By: Rebecca
Mowell, Seconded By: Pat Turner.
Motion Passed Unanimously
IV. REGULAR ITEMS
Robert Mundy stated that he had an administrative issue to address before continuing with the regular
agenda. Mundy informed the group that the current meeting time was problematic for some Board members
who have jobs and have to adjust their schedules every month in order to be able to attend EDC meetings.
He proposed that the Board meetings be rescheduled to the evening. The Board discussed potential
days /times for the change and agreed that future meetings will be held on the fourth Tuesday of the month
at 7:00 pm. Robert Mundy concluded, noting that the next regularly scheduled meeting would be held on
July 28, 2015 at 7:00 pm.
A. Review and accept the KEDC Financial Report for April 2015
B. Review and accept the KEDC Financial Report for May 2015
Interim Finance Director Carolyn Marshall provided an overview of the April /May financial report to the Board
members; she noted that the two months were combined into one report and that the financial are now up to
date. Robert Mundy thanked Carolyn for highlighting the month to month changes on the financial report,
noting that it was very helpful.
Motion: To approve the April /May 2015 KEDC Financial Report. Action: Approve, Moved By: Mark Yeary,
Seconded By Rebecca Mowell.
Motion Passed Unanimously
C. Action relative to the Kennedale TownCenter L.P., and Cypress Properties, and the new contract
with Crampton EBT, Inc., and HPS RE, LLC
Executive Director Bob Hart stated that this item was added to the agenda to bring everyone up to date on
the sale of Building 5 in the Kennedale TownCenter and the transfer of management and development
services. Bob Hart stated that the 45 -day period for the transfer is now underway and that Liberty Capital is
working with Crampton on the financing. He added that the contract documents should be complete by the
end of June and that he will forward these documents to the EDC Attorney, Wayne Olson for review. Hart
added that no action was required by the Board at this time; however, the Board may need to meet within
the 45 -day period to tie up any loose ends.
Robert Mundy stated that the EDC sub - committee appointed to negotiate the purchase of
Building 5 from Cypress Properties/TownCenter Properties should be disbanded.
Motion: To approve the disbandment of EDC sub - committee. Action: Approve, Moved By: Pat Turner,
Seconded By Mike Johnson.
Motion Passed Unanimously
V. STAFF ANNOUNCEMENTS /REPORTS
A. Kennedale Parkway Access
Bob Hart informed the group that he will meet with TxDOT again on June 22 "d to discuss access issues on
Kennedale Parkway. Additionally, he is talking with Oncor concerning street lighting.
B. Welcome Signs
Bob Hart stated construction on the welcome sign is underway and will have solar lighting.
C. Sidewalk Project
Bob Hart stated that he was working to resolve the sprinkler system issues on the sidewalk project; adding
that the Bonding Company is now involved.
D. Food Court
Jack Thompson stated that this project is on hold until Craig Hughes takes over the management of
TownCenter.
E. TIRZ Report
Bob Hart informed the EDC Board that the Tax Increment Reinvestment Zone (TIRZ) Board will meet on
June 15 to start the process for the design of New Hope Road and the wastewater system. He added that
there is a possibility that the County may be willing to help fund the development of New Hope Road.
Additional items of information provided by Bob Hart included his meeting with TxDot on the line -of -sight
issues with the landscaping along Kennedale Parkway; Bloxom Park pavement begins in July; the new
Finance Director Kristal Crump will start on July 6; and the City of Kennedale was recognized in Movoto
Real Estate's Top 10 Fort Worth Suburbs list.
F. Chamber Report
Jack Thompson provided updates on Chamber activities, highlighting the high attendance at the recent
Business After Hours event. Thompson reminded Board members that this month's Chamber luncheon will
be June 17` and no luncheon will be held in July. Additionally, he added that the Clay Shoot Tournament
has been postponed until April 2016.
No Executive Session was Held.
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
Industrial Prospects for Bloxom Park
1298 W. Kennedale Parkway Business Incentives
Potential Hotel
Release of claims by Kennedale TownCenter L.P., and Cypress Properties
VII. RECONVENE INTO OPEN SESSION, AND TAKE ACTION NECESSARY PURSUANT TO
EXECUTIVE SESSION, IF NEEDED
VIII. ADJOURNMENT
Motion To adjourn. Action Adjourn, Moved By Mark Yeary, Seconded By Rebecca Mowell.
Motion passed Unanimously ° ° ° ° ° ®` KE N �� or 'o
The meeting was adjourned at 12:56 PM
APPROVED:
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President Robert. undy
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ATTEST:
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Deputy City S�retary Kathy E. Moore