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2015_11.17 EDC Agenda Packet ic KENNEDALE Kennedale Economic Development Corporation www.cityofkennedale.com ECONOMIC DEVELOPMENT CORPORATION AGENDA BOARD OF DIRECTORS - REGULAR MEETING November 17, 2015 CITY HALL CONFERENCE ROOM, 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 27, 2015 regular meeting IV. REGULAR ITEMS A. Review and accept the KEDC Financial Report for October 2015. V. STAFF ANNOUNCEMENTS/REPORTS A. Village Creek B. TownCenter C. ICSC Meeting D. Chamber Report 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. 1200 Block Bowman Springs Road 2. 6900 Block Kennedale Parkway 3. 5400 and 5404 Kennedale Road 4. 5401 High Ridge Road 5. 5409 Kennedale 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 17, 2015, 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. Leslie Galloway, City 816cretary 405 Municipal Drive, Kennedale, TX 76060 1 Telephone: 817.985.2102 1 Fax: 817-478-7169 ic KENNEDALE Kennedale Economic Development Corporation www.cityofkennedale.com STAFF REPORT TO THE BOARD OF DIRECTORS Date: November 17, 2015 Agenda Item No: MINUTES APPROVAL - A. I. Subject: Consider approval of the minutes from the October 27, 2015 regular meeting II. Originated by: III. Summary: Minutes are prepared by the Deputy City Secretary and ready for approval. IV. Recommendation: Approve V. Alternative Actions: VI. Attachments: 1. JEconomic Development Corporation Meeting Minutes - October 27, 2015 10-27-15. df _jc KENNEDALE Kennedale Economic Development www.ci yofi(enn Corporation rn ECONOMIC DEVELOPMENT CORPORATION BOARD OF DIRECTORS - REGULAR MEETING MINUTES October 27, 2015 I. CALL TO ORDER President Mundy called the meeting to order at 7:00 p.m. II. ROLL CALL Present: Michael Johnson, Rebecca Mowell, Robert Mundy, Pat Turner, Ronald Whitley, Mark Yeary Absent: Adrienne Kay III. MINUTES APPROVAL A. Consider approval of the minutes from the September 22, 2015 regular meeting Motion To approve the September 22, 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 September 2015 EDC Director, Bob Hart provided a brief overview of the September 2015 Finance Report for the Economic Development Corporation, noting that sales taxes will taper back off next month. Motion To approve the September 2015 Economic Development Corporation Financial Report. Action Approve, Moved By Mark Yeary, Seconded By Michael Johnson. Motion passed Unanimously V. STAFF ANNOUNCEMENTS/REPORTS A. Village Creek C. Chamber Report B. TownCenter D. ICSC Director Hart informed the Board that the draft report for Village Creek should be completed by February; adding that the Army Corps of Engineers have money for public/private partnerships which we plan to pursue. Bob stated that the Montgomery Company will be out of their TownCenter space by Mid- November, and Utopia Fitness is planning to open in the East portion of the building. Discussions continued concerning prospective tenants and the location of new TownCenter buildings. Jack Thompson provided a Chamber update stating that the Chamber had above average attendance at the October luncheon, which featured State Representative Bill Zedler and Senator Konni Burton. Jack informed the group that there are spaces available for the Chamber's upcoming golf tournament on Monday, November 2, 2015; he noted that the Chamber was still in need of additional raffle gifts. Concluding, he stated that the Chamber will participate in the December Toy Drive with the Kennedale Fire Department. Jack stated that he will attend the International Council of Shopping Centers (ICSC) Conference in Dallas next week, along with Craig Hughes, Hughes Commercial Real Estate and Development. He added that the conference is a good opportunity to talk with some national chain companies. VI. EXECUTIVE SESSION President Mundy recessed into executive session at 7:21 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. 5409 Kennedale Road 2. 1200 Block Bowman Springs Road 3. 6900 Block Kennedale Parkway VII. RECONVENE INTO OPEN SESSION, AND TAKE ACTION NECESSARY PURSUANT TO EXECUTIVE SESSION, IF NEEDED President Mundy reconvened into open session at 7:33 p.m. No action was necessary pursuant to the Executive Session. The November meeting will be moved to November 17, 2015 to accommodate the Thanksgiving holiday; and the December meeting will not be held unless it is deemed necessary at a later date. VIII. ADJOURNMENT The meeting was adjourned at 7:44 p.m. Motion To adjourn. Action Adjourn, Moved By Ronald Whitley, Seconded By Rebecca Mowell. Motion passed Unanimously APPROVED: ATTEST: President Robert Mundy Deputy City Secretary Kathy E. Moore ic KENNEDALE Kennedale Economic Development Corporation www.cityofkennedale.com STAFF REPORT TO THE BOARD OF DIRECTORS Date: November 17, 2015 Agenda Item No: REGULAR ITEMS - A. I. Subject: Review and accept the KEDC Financial Report for October 2015. II. Originated by: Finance Director, Director of Finance & IT Bob Hart III. Summary: Finance Director, Krystal Crump will provide an overview of the October 2015 Kennedale Economic Development Corporation Financial Report. IV. Recommendation: Approve V. Alternative Actions: VI. Attachments: 1. JOctober 2015 Financials JOctober Financials. df CITY OF KENNEDALE,TEXAS ECONOMIC DEVELOPMENT CORPORATION MONTHLY FINANCIALS OCTOBER Budget Amendment No amendments. MonthlY Information The October received sales tax was about$20K higher than our average payment. However sales tax will not be recorded in FY 16 until December due to accruals. Rental Fees, MMD Tax and Rental Insurance are reported on the Accrual Basis of Accounting, while all other revenues and expenditures are reported on the Cash Basis.This procedure has been in effect for several years, but can be changed should the Board wish. Krystal Crump Finance Director FY14-15 CURRENT BALANCE SHEET ACTUAL MONTH INVESTMENT IN CONSOLIDATED CASH - FUND 15 90,294.82 39,029.94 INVESTMENT IN CONSOLIDATED CASH - FUND 95 119,961.60 119,965.84 TEXPOOL- FUND 15 19.25 19.25 TEXPOOL- FUND 19 29,446.64 29,446.64 FUND BALANCE- FUND 15 117,326 34,340 FUND BALANCE- FUND 19 29,444 29,447 FUND BALANCE- FUND 95 119,962 119,966 ALL EDC FUNDS FY14-15 FY14-15 FY15-16 CURRENT FY15-16 CY-PY %OF BUDGET BUDGET CATEGORY YTD ACTUAL ADOPTED MONTH YTD CHANGE USED REMAINING BEGINNING FUND BALANCE $ 376,091 $ 376,091 $ 258,442 $ 268,031 $ 268,031 AD VALOREM TAXES 393 38,075 48,062 - - 0 0.0% 48,062 SALES/BEVERAGE TAXES 98 417,509 350,000 157 157 15,209 0.0% 349,843 INVESTMENT EARNINGS 6 112 80 9 9 40 11.1% 71 MISCELLANEOUS INCOME 2,000 54,475 384,120 50 50 - 0.0% 384,070 SURPLUS SALES/RENTALS 9,665 97,515 129,774 - - (4,918) 0.0% 129,774 TOTAL REVENUES $ 12,162 $ 607,685 $ 912,036 $ 216 $ 216 $ 10,331 0.0% $ 911,820 SUPPLIES - 4,625 3,100 - - - 0.0% 3,100 MAINTENANCE 5,481 25,928 23,592 - - 0.0% 23,592 SUNDRY 7,689 200,906 210,258 12,987 12,987 (19,764) 6.2% 197,271 DEBT 41,815 208,689 166,374 35,548 35,548 (3,475) 21.4% 130,826 TRANSFERS 36,759 153,519 153,519 35,959 35,959 (0) 23.4% 117,559 CAPITAL - 122,078 155,000 - - (887) 0.0% 155,000 TOTAL EXPENDITURES $ 91,744 $ 715,745 $ 711,842 $ 84,494 $ 84,494 $ (24,127) 11.9% $ 627,348 REVENUES OVER EXPENDITURES $ (79,582) $ (108,060) $ 200,194 $ (84,278) $ (84,278) ENDING FUND BALANCE $ 296,509 $ 268,031 $ 458,635 $ 183,753 $ 183,753 ADJUSTMENTS FUND BALANCE AS%OF EXP 323.2% 37.4% 64.4% 217.5% 217.5% RESERVE(NO REQUIREMENT) $ - $ - $ - $ - $ - RESERVE SURPLUS/(SHORTFALL) $ 296,509 $ 268,031 $ 458,635 $ 183,753 $ 183,753 I 15:EDC413 FUND FY14-15 FY14-15 FY15-16 CURRENT FY15-16 CY-PY %OF BUDGET BUDGET INCOME STATEMENT YTD ACTUAL ADOPTED MONTH YTD CHANGE USED REMAINING OPERATING REVENUES 12,157 607,574 911.956 207 207 10,291 0.0% 911,749 OPERATING EXPENDITURES (54,985) (562,226) (533,324) (48,535) (48,535) 24,126 9.1% (484,789) OPERATING INCOME/(LOSS) (42,828) 45,347 378,633 (48,328) (48,328) 34,418 -12.8% 426,960 NONOPERATING REVENUES/(EXPENSES) INTEREST EARNINGS 3 57 40 2 2 36 5.5% 38 (TRANSFER OUT) (36,759) (153,519) (153,519) (35,959) (35,959) 0 23.4% (117,559) NET OPERATING INCOME/(LOSS) (79,584) (108,115) 225,154 (84,285) (84,285) 34,454 -37.4% 309,439 BEGINNING FUND BALANCE $ 226,740 $ 226,740 $ 109,049 S 118,625 $ 118,625 ENDING FUND BALANCE(EXCLUDING OTHER FUNDS) $ 147,156 $ 118,625 $ 334,203 S 34,340 $ 34,340 95:EDC4B RESERVE FUND $ 119,938 $ 119,977 $ 119,977 $ 119,966 $ 119,966 19:EDC4B CAPITAL BOND FUND $ 54,449 $ 54,456 $ 54,456 $ 29,447 $ 29,447 ENDING FUND BALANCE(INCLUDING OTHER FUNDS) $ 321,543 $ 293,058 $ 508,635 $ 183,753 $ 183,753 15:EDC46 FUND FY14-15 FY14-15 FY15-16 CURRENT FY15-16 CY-PY %OF BUDGET BUDGET CATEGORY YTD ACTUAL ADOPTED MONTH YTD CHANGE USED REMAINING BEGINNING FUND BALANCE $ 226,740 $ 226,740 $ 109,049 $ 118,625 $ 118,625 AD VALOREM TAXES 393 38,075 48,062 - - 0 0.0% 48,062 SALES/BEVERAGE TAXES 98 417,509 350,000 157 157 15,209 0.0% 349,843 INVESTMENT EARNINGS 3 57 40 2 2 36 5.5% 38 MISCELLANEOUS INCOME 2,000 54,475 384,120 50 50 - 0.0% 384,070 SURPLUS SALES/RENTALS 9,665 97,515 129,774 - - (4,918) 0.0% 129,774 TOTALREVENUES $ 12,160 $ 607,630 $ 911,996 $ 209 $ 209 $ 10,327 0.0% $ 911,787 SUPPLIES - 4,625 3,100 - - - 0.0% 3,100 MAINTENANCE 5,481 25,928 23,592 - - 0.0% 23,592 SUNDRY 7,689 200,906 210,258 12,987 12,987 (19,764) 6.2% 197,271 DEBT 41,815 208,689 166,374 35,548 35,548 (3,475) 21.4% 130,826 TRANSFERS 36,759 153,519 153,519 35,959 35,959 (0) 23.4% 117,559 CAPITAL - 122,078 130,000 - - (887) 0.0% 130,000 TOTAL EXPENDITURES $ 91,744 $ 715,745 $ 686,842 $ 84,494 $ 84,494 $ (24,127) 12.3% $ 602,348 REVENUES OVER EXPENDITURES $ (79,584) $ (108,115) $ 225,154 $ (84,285) $ (84,285) ENDING FUND BALANCE $ 147,156 $ 118,625 $ 334,203 $ 34,340 $ 34,340 ADJUSTMENTS FUND BALANCE AS%OF EXP 160.4% 16.6% 48.7% 40.6% 40.6% RESERVE(NO REQUIREMENT) $ - $ - $ - $ - $ - RESERVE SURPLUS/(SHORTFALL) $ 147,156 $ 118,625 $ 334,203 $ 34,340 $ 34,340 15:EDC4B FUND FY14-15 FY14-15 FY15-16 CURRENT FY15-16 CY-PY %OF BUDGET BUDGET ACCOUNT ACCOUNT NAME YTD ACTUAL ADOPTED MONTH YTD CHANGE USED REMAINING 4002-00-00 MMD TAX-CURRENT YEAR 393 38,075 48,062 0 0.0% 48,062 AD VALOREM TAXES $ 393 $ 38,075 $ 48,062 $ - $ - $ 0 0.0% $ 48,062 4081-00-00 SALES TAX 98 417,509 350,000 157 157 15,209 0.0% 349,843 SALES/BEVERAGE TAXES $ 98 $ 417,509 $ 350,000 $ 157 $ 157 $ 15,209 0.0% $349,843 4401-00-00 INVESTMENT INCOME 3 57 40 2 2 36 5.5% 38 INVESTMENT EARNINGS $ 3 $ 57 $ 40 $ 2 $ 2 $ 36 5.5% $ 38 4409-00-00 MISCELLANEOUS INCOME 2,000 54,475 384,120 50 50 - 0.0% 384,070 MISCELLANEOUS INCOME $ 2,000 $ 54,475 $ 384,120 $ 50 $ 50 $ - 0.0% $384,070 4805-00-00 RENTAL FEES-SHOPPING CENTER 9,641 97,271 121,274 - - (4,918) 0.0% 121,274 4806-00-00 RENTAL INSURANCE 24 244 8,500 0.0% 8,500 SURPLUS SALES/RENTALS $ 9,665 $ 97,515 $ 129,774 $ $ $ (4,918) 0.0% $ 129,774 TRANSFERS $ - $ - $ - $ $ $ - 0.0% $ - TOTAL REVENUES $ 12,160 $ 607,630 $ 911,996 $ 209 $ 209 $ 10,327 0.0% $ 911,787 TOTAL REVENUES(EXCLUDING INTEREST/TRANSFERS) $ 12,157 $607,574 $ 911,956 $ 207 $ 207 $ 10,291 10%ADMIN CHARGE-GENERAL FUNC 1,216 60,757 91,196 21 21 1,029 15:EDC413 FUND FY15-16 PROPOSED 4002-00-00 MMD TAX-CURRENT YEAR BASED ON FYI 3/14 ASSESSED VALUE OF 48,062 18.062 $2,783,693 AND TOTAL TAX RATE OF 2.880965 PER $100 (MINUS TRACT 1R FOR SURPLUS) CITY OF KENNEDALE:$0.747500 KENNEDALE ISD:$1.492068 TARRANT COUNTY:$0.264000 TARRANT HOSPITAL:$0,227897 4081-00-00 SALES TAX GENERALLY BUDGET BASED ON PRIOR 350,000 350,000 3 YEARS OF HISTORY 4401-00-00 INVESTMENT INCOME EARNING BASED UPON AVERAGE 40 40 BALANCE INTEREST RATES 4409-00-00 MISCELLANEOUS INCOME SALE OF 1121 WEST KENNEDALE 360,000 384,120 PARKWAY (APACHE/NACHO/FOX/WHEELER/HUN DE PURCHASED FY09/10)-3RD PADSITE, ATH PADSITF RFMAININ(-- MONTHLY FEE FROM CHAMBER FOR 24,000 SERVICES($2000 MONTH) MONTHLY FEE FROM CHAMBER PER 120 RENTAL AGREEMENT($10 MONTH)PLUS $100 DEPOSIT 4411-00-00 TX LEVERAGE PROG REIMBURSEMENTS PRINCIPAL & INTEREST PAYMENTS - RECEIVED FROM GROVER TO REIMBURSE THE STATE EDC FOR $1.7M 4805-00-00 RENTAL FEES-SHOPPING CENTER CHICKEN EXPRESS ($2518 MONTH, 22,662 121,274 RELOCATION JUL 2013, LEASE EXPIRES 05/31/17,GOES TO$0 UPON MOVE) DOLLAR GENERAL ($4719 MONTH, 56,628 LEASE EXPIRES 07/31/17, 2% MANAGEMENT FEE FOR AT RENEWA) BUILDING ONE VACANT ($8400 - MONTH, LEASE EXPIRES 05/31/16, 2% MANAGEMENT FEE FOR AT RENEWAL) PREPAID TENANT FEES RECEIVED BUT 41,984 CORRESPONDING OFFSET OCCURS WHEN BOOKED AGAINST CAM EXPENSES (EXCLUDES RENTAL 4806-00-00 RENTAL INSURANCE RENTAL CAM COLLECTED ON LEASE 8,500 8,500 AGREEMENTS AND THEN USED TO PAY TML INSURANCE (OFFSETTING EXPENSE UNDER TOWN SHOPPING CENTER) TOTAL REVENUES $ 911,996 IS:EDC4B FUND O1:ADMINISTRATION FY14-15 FY14-15 FY15-16 CURRENT FY15-16 CY-PY % BUDGET BUDGET ACCOUNT ACCOUNT NAME YTD ACTUAL ADOPTED MONTH YTD CHANGE USED REMAINING PERSONNEL $ $ - $ - $ $ $ 0.0% $ - 5240-01-00 PRINTED SUPPLIES 4,505 3,000 - 0.0% 3,000 5260-01-00 GENERAL OFFICE SUPPLIES - 50 0.0% 50 5261-01-00 POSTAGE 120 50 0.0% 50 SUPPLIES $ $ 4,625 $ 3,100 $ $ $ 0.0% $ 3,100 MAINTENANCE $ $ - $ - $ $ $ 0.0% $ - 5501-01-00 ADVERTISING 359 1,200 0.090 1,200 5510-01-00 ASSOC DUES/PUBLICATIONS 4,755 4,020 0,0% 4,020 5525-01-00 TRAINING/SEMINARS - 250 0.0% 250 5565-01-00 LEGAL SERVICES 9,700 1,000 (8,700) 0.0% 1,000 5567-01-00 AUDIT SERVICES 200 2,000 0.0% 2,000 5570-01-00 SPECIAL SERVICES 6,050 82,708 72,600 6,050 6,050 (15,000) 8.3% 66,550 5578-01-00 TRAVEL - 70 100 - - 0,0% 100 5580-01-00 ENGINEERING SERVICES 17,038 1,000 (10,000) 0.0% 1,000 5595-01-00 ADMIN CHARGE-GENERAL FUND 60,557 91,196 6,336 0.0% 91,196 SUNDRY $ 6,050 $ 175,387 $ 173,366 $ 6,050 $ 6,050 $ (27,364) 8.3% $ 167,316 5615-01-00 FUNCTIONAL GRANT - 38,892 - - - (37,744) 0.0% - DEBT $ $ 38,892 $ $ $ $ (37,744) 0.0% $ TRANSFERS $ $ - $ $ $ $ - 0.0% $ 5800-01-00 LAND 20,887 (20,887) 0.0% CAPITAL $ $ 20,887 $ $ $ $ (20,887) 0.0% $ TOTAL EXPENDITURES $ 6,050 $239,791 $ 176,466 $ 6,050 $ 6,050 $ (85,995) 3.4% $ 170,416 15:EDC413 FUND 01:ADMINISTRATION FY15-16 PROPOSED 5101-01-00 SALARIES - 5107-01-00 OVERTIME - 5115-01-00 RETIREMENT - 5117-01-00 FICA - 51 18-01-00 MEDICAL INSURANCE - 5120-01-00 LIFE INSURANCE - - 5121-01-00 DENTAL INSURANCE - - 5122-01-00 VISION INSURANCE - - 5220-01-00 UNIFORMS NEW SHIRTS FOR CONVENTIONS/MEETINGS - - 5240-01-00 PRINTED SUPPLIES PRINTED MAPS OF ENTIRE CITY - 3,000 EDC COPIES/BROCHURES 3,000 CITY MARKETING FLYERS/AERIAL PHOTOS - 5260-01-00 GENERAL OFFICE SUPPLIES FILES/FOLDERS/PAPER/PENCILS 50 50 5261-01-00 POSTAGE FOR MAIL OUTS/MARKETING PACKAGES 50 50 5280-01-00 MINOR EQUIP/SMALL TOOLS<$5K ADDITIONAL EQUIPMENT ASSOCIATED WITH - - PRESENTATIONS MARKETING 5290-01-00 EXPENDABLE SUPPLIES TOWN CENTER GRAND OPENING - 9/11 MEMORIAL 5440-01-00 OFFICE EQUIP/SOFTWARE MAINT - - 5501-01-00 ADVERTISING PROMOTIONAL ADVERTISING, LEGAL NOTICES 1,200 1,200 AND BUDGET HEARING AD 1200 5510-01-00 ASSOC DUES/PUBLICATIONS TEXAS ECONOMIC DEVELOPMENT 200 4,020 COMMISSION CITY($1875)&EDC($675)KENNEDALE 2,550 CHAMBER MEMBERSHIP DALLAS CHAMBER ($870) & TX MONTHLY 1,270 ECONOMIC GUIDE AD($0), DALLAS CHAMBER MAP ADD(8400) 5525-01-00 TRAINING/SEMINARS EDC TRAINING THROUGH VARIOUS 250 250 ASSOCIATIONS BY BOARD 5565-01-00 LEGAL SERVICES BILLABLE HOURS FOR CITY ATTORNEY ON EDC 1,000 1,000 RELATED PROJECTS (I.E., HOTEL, OTHER POTENTIAL OPPORTUNITIES) 5567-01-00 AUDIT SERVICES PATILLO, BROWN & HILL SERVICES FOR 2,000 2,000 INDEPENDENT ANNUAL AUDIT (FYI 1/12 $1500, FY12/13 $1500, FY13/14 $2K, FY14/15 $2K, 5570-01-00 SPECIAL SERVICES TOWN CENTER CONSULTING FIRM 66,000 72,600 (APPROXIMATELY $5500/MONTH BEGINNING JUL 2014, TO INCLUDE $3500 FOR EDC SERVICES, $2000 FOR CHAMBER SERVICES) - $2000 DIRECT REVENUE OFFSET FROM (-I-IAKARFD FArP W)NITH CONTRACT WITH MUNISERVICES FOR SALES TAX - AUDIT SERVICES, 35% CONTINGENCY IF REALLOCATIONS ARE UNCOVERED DUE TO REPORTING ERRORS (APPLIES TO FIRST 8 CONSECUTIVE REPORTING QUARTERS FOLLOWING CORRECTION, SHARED 75% rrlTvroi01�Fn("\ WEBSITE MAINTENANCE BY CONSULTANT 6,600 550 MONTH 5575-01-00 EQUIPMENT RENTAL - - 5578-01-00 TRAVEL TRAVEL RELATED TO OTHER EDC 100 100 TRAINING SEMINARS BY STAFF BOARD 5580-01-00 ENGINEERING TIED TO POTENTIAL ACTIVITIES/PROJECTS (I.E., 1,000 1,000 HOTEL ETC. 5585-01-00 TELEPHONE SERVICES 5595-01-00 ADMIN CHARGE-GENERAL FUND CHARGE FOR SERVICES PROVIDED BY 91,196 91,196 GENERAL FUND RESOURCES (10% TOTAL REVENUES EXCLUDING INTERESTITRANSEFIRS) 5615-01-00 FUNCTIONAL GRANT - - 5701-01-00 TRANSFER OUT-GENERAL FUND - 5800-01-00 LAND - 5813-01-00 KENNEDALE ENTRANCE SIGN - 5820-01-00 BUILDING IMPROVEMENT - 5875-01-00 CONSTRUCTION - - TOTAL EXPENDITURES $ 176,466 15:EDC4B FUND 01:ADMINISTRATION 03:DEBT SERVICE FY14-15 FY14-15 FY15-16 CURRENT FY15-16 CY-PY %OF BUDGET BUDGET ACCOUNT ACCOUNT NAME YTD ACTUAL ADOPTED MONTH YTD CHANGE USED REMAINING 5643-01-03 2007$1.2M TAX BOND-INTEREST 32,787 65,625 62,203 31,034 31,034 (3,475) 49.99/o 31,169 5644-01-03 2007$1.2M TAX BOND-PRINCIPAL - 50,000 50,000 - - 0.0% 50,000 5645-01-03 2011 $1.7M TX LEVERAGE-INT 2,921 17,024 15,798 1,260 1,260 (1,226) 8.0 q 14,538 5646-01-03 2011 $1.7M TX LEVERAGE-PRI 6,108 37,147 38,373 3,254 3,254 1,226 8.5% 35,118 DEBT $ 41,815 $ 169,796 $ 166,374 $ 35,548 $ 35,548 $ (3,475) 21.4% $ 130,826 5702-01-03 TRANSFER OUT-DEBT SERVICE FUND 36,759 153,519 153,519 35,959 35,959 (0) 23.4% 117,559 TRANSFER $ 36,759 $ 153,519 $ 153,519 $ 35,959 $ 35,959 $ (0) 23.4% $ 117,559 TOTAL EXPENDITURES $ 78,575 $ 323,315 $ 319,893 $ 71,507 $ 71,507 $ (3,475) 22.4% $ 248,385 15:EDC413 FUND O1:ADMINISTRATION 03:DEBT SERVICE FY15-16 PROPOSED 5620-01-03 ISSUANCE COSTS AGENT FEES TO HANDLE BOND - AMORTIZATIONS 5621-01-03 PAYING AGENT FEES FEES RELATED TO THE ACQUISITION OF NEW DEBT (BANK/BOND ATTORNEY/FINANCIAL ADVISOR). BANK IS PAYING AGENT IN PRIVATE PLACEMENT AND GENERALLY DOES 5643-01-03 2007$1.2M TAX BOND-INTEREST DUE 11101 31,102 62,203 DUE 05/01 31,102 5644-01-03 2007$1.2M TAX BOND-PRINCIPAL DUE 05/01 50,000 50,000 5645-01-03 2011 $1.7M TX LEVERAGE-INT DUE BY 1ST OF EACH MONTH (BEGINS 15,798 15,798 11/01/2011) 5646-01-03 2011 $13M TX LEVERAGE-PRI DUE BY 1ST OF EACH MONTH (BEGINS 38,373 38,373 11/01/2011) 5702-01-03 TRANSFER OUT-DEBT SERVICE FUND DUE 11/01 INTEREST 2010 $2.OM CO 36,759 153,519 BOND DUE 05/01 INTEREST : 2010 $2.OM CO 36,759 BOND DUE 05/01 PRINCIPAL : 2010 $2.OM CO 80,000 BOND TOTAL EXPENDITURES $ 319,893 15:EDC413 FUND 02:TOWN SHOPPING CENTER FY14-15 FY14-15 FY15-16 CURRENT FY15-16 CY-PY %OF BUDGET BUDGET ACCOUNT ACCOUNT NAME YTD ACTUAL ADOPTED MONTH YTD CHANGE USED REMAINING SUPPLIES $ - $ - $ $ $ $ 0.0% $ - 5403-02-00 BUILDING MAINTENANCE 5,481 25,928 23,592 0.0% 23,592 MAINTENANCE $ 5,481 $ 25,928 $ 23,592 $ $ $ 0.0% $ 23,592 5530-02-00 ELECTRIC SERVICES 323 4,380 5,000 - 0.0% 5,000 5545-02-00 INSURANCE-PROPERTY - 6,347 8,500 6,121 6,121 72.0% 2,379 5570-02-00 SPECIAL SERVICES 1,316 14,792 13,392 816 816 - 6.1% 12,576 SUNDRY $ 1,639 $ 25,519 $ 26,892 $ 6,937 $ 6,937 $ 78.1% $ 19,955 TOTAL EXPENDITURES $ 7,120 $ 51,447 $ 50,484 $ 6,937 $ 6,937 $ 13.7% $ 43,547 15:EDC413 FUND 02:TOWN SHOPPING CENTER FY15-16 PROPOSED 5280-02-00 MINOR EQUIP/SMALL TOOLS<$5K - - 5403-02-00 BUILDING MAINTENANCE WATER($350/MONTH) 4,200 23,592 FIRE SPRINKLER-CAM($150/QUARTER) 600 LANDSCAPE/MATERIALS-CAM ($1166/MONTH) 13,992 MAINTENANCE-CAM($400/MONTH) 4,800 5501-02-00 ADVERTISING - 5510-02-00 ASSOC DUES/PUBLICATIONS - 5512-02-00 CONTRACTUAL SERVICES - 5530-02-00 ELECTRIC SERVICES ELECTRICITY-CAM 5,000 5,000 5545-02-00 INSURANCE-PROPERTY COVERAGE THROUGH TEXAS MUNICIPAL 8,500 8,500 LEAGUE (CHICKEN EXPRESS/DOLLAR GENERAL BUILDING ON TML SCHEDULE, ALL OTHER BUILDINGS CARRIED ON CYPRESS INSURANCE) 5570-02-00 SPECIAL SERVICES PROPERTY/ASSET MANAGEMENT($500 PER 6,000 13,392 MONTH) SEP 2015 - FEB 2017: SUBWAY $150, ACE 7,392 $466 OR$7392 FYI 5/16-FYI 6/17 ANNUAL MAR 2017 - AUG 2018: SUBWAY $150 OR - 1800 FYI 7 18 ANNUAL TOTAL EXPENDITURES $ 50,484 MMD/TAXES INSURANCE CAM SURPLUS MONTHLY NOT BILLED NOT BILLED DOLLAR YEARLY YEARLY MONTHLY CHICKEN EXP MONTHLY MONTHLY MONTHLY MAIN BUILDING MONTHLY ON CYPRESS INSURANCE MONTHLY IS:EDC413 FUND 03:TOWN CENTER REDEVELOPMENT FY14-15 FY14-15 FY 15-16 CURRENT FY15-16 CY-PY %OF BUDGET BUDGET ACCOUNT ACCOUNT NAME YTD ACTUAL ADOPTED MONTH YTD CHANGE USED REMAINING 5570-03-00 SPECIAL SERVICES - - 0.0% - 5580-03-00 ENGINEERING SERVICES 10,000 10,000 0.0% 10,000 SUNDRY $ $ $ 10,000 $ $ $ 10,000 0.0% $ 10,000 5800-03-00 LAND - - 0.0% - 5847-03-00 CONSTRUCTION 80,000 80,000 0.0% 80,000 CAPITAL $ $ $ 80,000 $ $ $ 80,000 0.0% $ 80,000 $ $ $ 90,000 $ $ $ 90,000 0.0% $ 90,000 15:EDC413 FUND 03:TOWN CENTER REDEVELOPMENT FY15-16 PROPOSED 5570-03-00 SPECIAL SERVICES - 5580-03-00 ENGINEERING SERVICES PARKING LOT MODIFICATION 10,000 10,000 5847-03-00 CONSTRUCTION CHICKEN EXPRESS BUILDING HEALTH 5,000 80,000 INSPECTIONS/ASBESTOS SURVEY CHICKEN EXPRESS TEAR DOWN/DEMOLITION 25,000 CHICKEN EXPRESS PARKING LOT MODIFICATION 50,000 POTENTIAL ACTIVITIES/PROJECTS - TOTAL EXPENDITURES $ 90,000 I I IS:EDC4B FUND 04:TEXAS LEVERAGE PROGRAM FY14-15 FY14-15 FYI 5-16 CURRENT FY15-16 CY-PY %OF BUDGET BUDGET ACCOUNT ACCOUNT NAME YTD ACTUAL ADOPTED MONTH YTD CHANGE USED REMAINING SUNDRY $ $ $ $ $ $ 0.0% $ DEBT $ $ $ $ $ $ 0.0% $ 5800-04-00 LAND 101,192 50,000 (60,000) 0.0% 50,000 CAPITAL $ $ 101,192 $ 50,000 $ $ $ (60,000) 0.0% $ 50,000 $ $ 101,192 $ 50,000 $ $ $ (60,000) 0.0% $ 50,000 15:EDC413 FUND 04:TEXAS LEVERAGE PROGRAM FY15-16 PROPOSED 558-04-00 ENGINEERING SERVICES - 5615-04-00 FUNCTIONAL GRANT - 5620-04-00 ISSUANCE COSTS AGENT FEES TO HANDLE BOND - - AMORTIZATIONS 5800-00-00 LAND HOTELPROPERTY 50,000 50,000 5847-04-00 CONSTRUCTION CMAQ/RTR GRANT MATCH - - OAK CREST DEVELOPMENT & EAST CORNER INCENTIVES TOTAL EXPENDITURES $ 50,000 I 19:EDC46 CAPITAL BOND FUND FY14-15 FY14-15 FY15-16 CURRENT FY15-16 CY-PY %OF BUDGET BUDGET CATEGORY YTD ACTUAL ADOPTED MONTH YTD CHANGE USED REMAINING BEGINNING FUND BALANCE $ 29,429 $ 29,429 $ 29,441 $ 29,444 $ 29,444 INVESTMENT EARNINGS 1 15 15 2 2 (5) 16.2% 13 TOTAL REVENUES $ 1 $ 15 $ 15 $ 2 $ 2 $ (5) 16.2% $ 13 CAPITAL - - 25,000 - - - 0.0% 25,000 TOTAL EXPENDITURES $ - $ - $ 25,000 $ - $ - $ - 0.0% $ 25,000 REVENUES OVER EXPENDITURES $ 1 $ 15 $ 25,015 $ 2 $ 2 ENDING FUND BALANCE $ 29,430 $ 29,444 $ 54,456 $ 29,447 $ 29,447 ADJUSTMENTS FUND BALANCE AS%OF EXP N/A N/A 217.8% N/A N/A RESERVE(NO REQUIREMENT) $ - $ - $ - $ - $ - RESERVE SURPLUS/(SHORTFALL) $ 29,430 $ 29,444 $ 54,456 $ 29,447 $ 29,447 19:EDC4B CAPITAL BOND FUND FY14-15 FY 14-15 FY15-16 CURRENT FY15-16 CY-PY %OF BUDGET BUDGET ACCOUNT ACCOUNT NAME YTD ACTUAL ADOPTED MONTH YTD CHANGE USED REMAINING 4401-00-00 INVESTMENT INCOME 1 15 15 2 2 (5) 16.2% 13 INVESTMENT EARNINGS $ 1 $ 15 $ 15 $ 2 $ 2 $ (5) 16.2% $ 13 TRANSFERS $ - $ - $ - $ - $ - $ - 0.0% $ - TOTAL REVENUES $ 1 $ 15 $ 15 $ 2 $ 2 $ (5) 16.2% $ 13 19:EDC4B CAPITAL BOND FUND O1:TOWN CENTER REDEVELOPMENT FY14-15 FY14-15 FY15-16 CURRENT FY15-16 CY-PY %OF BUDGET BUDGET ACCOUNT ACCOUNT NAME YTD ACTUAL ADOPTED MONTH YTD CHANGE USED REMAINING MAINTENANCE $ $ $ $ $ $ 0.0% $ SUNDRY $ $ $ $ $ $ 0.0% $ 5847-01-00 CONSTRUCTION 25,000 0.0% 25,000 CAPITAL $ $ $ 25,000 $ $ $ 0.0% $ 25,000 TOTAL EXPENDITURES $ $ $ 25,000 $ $ $ 0.0% $ 25,000 19:EDC413 CAPITAL BOND FUND FY15-16 PROPOSED 4401-00-00 INVESTMENT INCOME EARNING BASED UPON AVERAGE 15 15 BALANCE INTEREST RATES TOTAL REVENUES $ 15 19: EDC413 CAPITAL BOND FUND 01:TOWN CENTER REDEVELOPMENT FY15-16 PROPOSED 5403-01-00 BUILDING MAINTENANCE - - 5570-01-00 SPECIAL SERVICES - - 5579-01-00 ARCHITECT/DESIGN SERVICES - - 5580-01-00 ENGINEERING SERVICES - - 5800-01-00 LAND - 5847-01-00 CONSTRUCTION WATER TANK IN TOWNCENTER 25,000 25,000 TOTAL EXPENDITURES $ 25,000 95:EDC4B RESERVE FUND FY14-15 FY14-15 FY15-16 CURRENT FY15-16 CY-PY %OF BUDGET BUDGET CATEGORY YTD ACTUAL ADOPTED MONTH YTD CHANGE USED REMAINING BEGINNING FUND BALANCE $ 119,922 $ 119,922 $ 119,952 $ 119,962 $ 119,962 INVESTMENT EARNINGS 2 40 25 4 4 9 17.0% 21 TOTAL REVENUES $ 2 $ 40 $ 25 $ 4 $ 4 $ 9 17.0% $ 21 TOTAL EXPENDITURES $ - $ - $ - $ - $ - $ - 0.0% $ REVENUES OVER EXPENDITURES $ 2 $ 40 $ 25 $ 4 $ 4 ENDING FUND BALANCE $ 119,924 $ 119,962 $ 119,977 $ 119,966 $ 119,966 ADJUSTMENTS - - FUND BALANCE AS%OF EXP N/A N/A N/A N/A N/A RESERVE($112,606 REQUIREMENT) $ 112,606 $ 112,606 $ 112,606 $ 112,606 $ 112,606 RESERVE SURPLUS/(SHORTFALL) $ 7,318 $ 7,356 $ 7,371 $ 7,360 $ 7,360 95:EDC413 RESERVE FUND FY14-15 FY14-15 FY15-16 CURRENT FY15-16 CY-PY %OF BUDGET BUDGET ACCOUNT ACCOUNT NAME YTD ACTUAL ADOPTED MONTH YTD CHANGE USED REMAINING 4401-00-00 INVESTMENT INCOME 2 40 25 4 4 9 17.0% 21 INVESTMENT EARNINGS $ 2 $ 40 $ 25 $ 4 $ 4 $ 9 17.0% $ 21 TRANSFERS $ - $ - $ - $ - $ - $ - 0.0% $ - TOTAL REVENUES $ 2 $ 40 $ 25 $ 4 $ 4 $ 9 17.0% $ 21 95:EDC4B RESERVE FUND FY14-15 FY14-15 FY15-16 CURRENT FY15-16 CY-PY %OF BUDGET BUDGET ACCOUNT ACCOUNT NAME YTD ACTUAL ADOPTED MONTH YTD CHANGE USED REMAINING TRANSFERS $ $ $ $ $ $ 0.0% $ TOTAL EXPENDITURES $ $ $ $ $ $ 0.0% $ 95: EDC413 RESERVE FUND FY15-16 PROPOSED 4401-00-00 INVESTMENT INCOME EARNING BASED UPON AVERAGE 25 25 BALANCE/INTEREST RATES 4915-00-00 TRANSFER IN-EDC46 PER BOND COVENANTS, WE ARE - - REQUIRED TO ESTABLISH THIS FUND AND DEPOSIT INTO IT A SPECIFIC AMOUNT OF RESERVES. THESE RESERVES ARE TO BE USED SOLELY FOR THE PURPOSE OF RETIRING THE LAST OF ANY PARITY BONDS AS THEY BECOME DUE OR PAYING OFF ANY PRINCIPAL/INTEREST WHENDEBT SERVICE FUNDS ARE INSUFFICIENT. TOTAL REVENUES $ 25 FY15-16 PROPOSED 5715-00-00 TRANSFER OUT-EDC46 FUND - - TOTAL EXPENDITURES $ - ic KENNEDALE Kennedale Economic Development Corporation www.cityofkennedale.com STAFF REPORT TO THE BOARD OF DIRECTORS Date: November 17, 2015 Agenda Item No: STAFF ANNOUNCEMENTS/REPORTS - A. I. Subject: Village Creek B. TownCenter C. ICSC Meeting D. Chamber Report II. Originated by: Bob Hart III. Summary: The Director will provide an update on these items. • Village Creek • TownCenter • ICSC Meeting • Chamber Report IV. Recommendation: None V. Alternative Actions: VI. Attachments: ic KENNEDALE Kennedale Economic Development Corporation www.cityofkennedale.com STAFF REPORT TO THE BOARD OF DIRECTORS Date: November 17, 2015 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. 1200 Block Bowman Springs Road 2. 6900 Block Kennedale Parkway 3. 5400 and 5404 Kennedale Road 4. 5401 High Ridge Road 5. 5409 Kennedale Road II. Originated by: Bob Hart III. Summary: These items will be discussed during the Executive Session. • 1200 Block Bowman Springs Road • 6900 Block Kennedale Parkway • 5400 and 5404 Kennedale Road • 5401 High Ridge Road • 5409 Kennedale Road IV. Recommendation: V. Alternative Actions: VI. Attachments: