2015_11.17 EDC MinutesECONOMIC DEVELOPMENT CORPORATION
BOARD OF DIRECTORS - REGULAR MEETING
MINUTES
November 17, 2015
I. CALL TO ORDER
President Mundy called the meeting to order at 7:07 p.m.
II. ROLL CALL
Present: Michael Johnson, Mark Yeary, Pat Turner, Robert Mundy, Rebecca Mowell, Adrienne
Kay
Absent: Ronald Whitley
III. MINUTES APPROVAL
A. Consider approval of the minutes from the October 27, 2015 regular meeting
Motion To approve the October 27, 2015 regular meeting minutes. Action Approve, Moved
By Rebecca Mowell, Seconded By Mark Yeary.
Motion passed Unanimously
IV. REGULAR ITEMS
A. Review and accept the KEDC Financial Report for October 2015.
Finance Director, Krystal Crump provided a brief overview of the October 2015 Finance Report
for the Economic Development Corporation.
Motion To approve the August 2015 Economic Development Corporation Financial Report and
budget amendments with corrections to the fund balance. Action Approve, Moved By Mark
Yeary, Seconded By Mike Johnson.
Motion passed Unanimously
V. STAFF ANNOUNCEMENTS /REPORTS
A. Village Creek
B. TownCenter
C. ICSC Meeting
D. Chamber Report
Director Bob Hart provided Board members with promotional literature from Hughes
Commercial Real Estate & Development for TownCenter, noting that things were going very
well. He added that a lease has been signed for a new dental office, which will open in
February; Chicken Express has signed the lease for their new building; and Utopia Fitness still
plans to open a branch at TownCenter. Bob concluded, stating that there were no new
developments for Village Creek at this time. Board members discussed the timeline for the
new buildings and parking issues.
President Mundy informed the Board that he observed potential draining issues with the roof
on the original building at TownCenter. Staff will pull files to see what type of warranty exist for
the most recent roof repairs.
Jack Thompson, Orasi Development stated that he attended the International Council of
Shopping Centers (ICSC) Conference in Dallas, along with Craig Hughes, Hughes
Commercial Real Estate and Development. He added that the conference had 3900 registered
participants, and that they received several solid leads which they plan to pursue.
Jack provided a Chamber update stating that Mayor Johnson spoke on U.S. Presidents at
the November Chamber luncheon; he informed the group that they will not have a luncheon in
December. Jack added that the Chamber's annual golf tournament had a record year;
that they will be participating in the December Toy Drive with the Kennedale Fire Department;
and that they have opened an online Chamber Store,
VI. EXECUTIVE SESSION
President Mundy recessed into executive session at 7:37 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. 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
President Mundy reconvened into open session at 8:07 p.m.
No action was necessary pursuant to the Executive Session.
The December meeting will be held on December 15, 2015, if deemed necessary.
VIII. ADJOURNMENT
The meeting was adjourned at 8:10 p.m.
Motion To Adjourn. Action Adjourn, Moved By Mark Yeary, Seconded By Adrienne
Motion passed Unanimously ��a\��O
APPROVED: ATTEST:
C OUNT ,
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President Robert u y *Deuty ecretary Kathy E. Moore