2015_08.25 EDC MinutesI. CALL TO ORDER
President Mundy called the meeting to order at 7:03 p.m.
II. ROLL CALL
Present: Michael Johnson, Adrienne Kay, Rebecca Mowell, Robert Mundy, Pat Turner, Mark
Yeary
Absent: Ronald Whitley
Staff Present: Bob Hart, Krystal Crump, Kathy Moore, and Jack Thompson with Orasi
Development/Chamber of Commerce
III. MINUTES APPROVAL
A. Consider approval of the minutes from the July 28, 2015 regular meeting
Motion To approve the July 28, 2015 regular meeting minutes. Action Approve, Moved By Pat
Turner, Seconded By Rebecca Mowell.
Motion passed Unanimously
IV. REGULAR ITEMS
A. Review and accept the KEDC Financial Report for July 2015.
Finance Director, Krystal Crump provided an update on the July 2015 Economic Development
Corporation financial report. Krystal noted that there was an overage in the maintenance line
item due to an air conditioning issue at TownCenter; however, she noted that this was a one-
time issue. Additionally, there was discussion within the group on the principles of accrual
accounting and if that might be a better option for EDC reporting.
Motion To approve the July 2015 Economic Development Corporation Finance Report.
Action Approve, Moved By Rebecca Mowell, Seconded By Mark Yeary.
Motion passed Unanimously
B. Update on the International Council of Shopping Centers (ICSC) Conference Attendance
EDC Director, Bob Hart stated that Craig Hughes, Hughes Commercial Real Estate and
Development is interested in attending the International Council of Shopping Centers (ICSC)
Conference in Dallas on November 4 -6, 2015. Bob stated that Jack Thompson will be attending
and asked if any of the EDC members were interested in attending the event. Robert Mundy
and Adrienne Kay stated that they could possible attend; it was noted that confirmation would
be needed by the third week in September.
V. STAFF ANNOUNCEMENTS /REPORTS
A. Village Creek
B. Sidewalk Project
C. TownCenter
D. TIRZ Report
E. Chamber Report
Director Hart provided updates for ongoing projects; highlights included a FEMA application to
be filed on Village Creek; ongoing progress on the Sidewalk Project; new signage coming to
TownCenter; and the Tax Increment Reinvestment Zone (TIRZ) is working on an engineering
report and financing.
Jack Thompson provided updates from the Chamber, inviting everyone to their upcoming
Business After Hours Event at Alley Kats in Arlington, on Tuesday evening, September 1; he
noted that this is a free event. Additionally, Jack stated that the September Chamber luncheon
will feature the State of the City address by Mayor Johnson.
VI. EXECUTIVE SESSION
President Mundy recessed into executive session at 7:27 p.m.
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. Industrial Prospects for Bloxom Park
2. 1298 W. Kennedale Parkway Business Incentives
3. 5913 Kennedale Road
4. 5409 Kennedale Road
5. 580 Corry A. Edwards Drive
6. 1200 Block Bowman Springs Road
7. 6900 Block Kennedale Parkway
8. Red's Roadhouse Status
9. 516 Corry A. Edwards Drive
10. 705 Kennedale Parkway
VII. RECONVENE INTO OPEN SESSION, AND TAKE ACTION NECESSARY PURSUANT TO
EXECUTIVE SESSION, IF NEEDED
President Mundy reconvened into open session at 8:24 p.m.
No action was necessary pursuant to the Executive Session.
VIII. ADJOURNMENT
The meeting was adjourned at 8:26 p.m.
Motion To adjourn. Action Adjourn, Moved By Mark Yeary, Seconded By Rebecca Mowell.
Motion passed Unanimously
APPROVED:
t A
President Robe undy
ATTEST:
Deputy Cit ecretary Kathy E. Moore
OF
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