2016_03.22 EDC Packet ic
KENNEDALE
Kennedale Economic
Development Corporation
www.cityofkennedale.com
ECONOMIC DEVELOPMENT CORPORATION
AGENDA
BOARD OF DIRECTORS - REGULAR MEETING
March 22, 2016
CITY 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 February 23, 2016 regular meeting
IV. REGULAR ITEMS
A. Review and accept the KEDC Financial Report for February 2016
V. STAFF ANNOUNCEMENTS/REPORTS
A. Oak Crest Development
B. TownCenter
C. 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. High Ridge Land Trade
4. TownCenter Building Pad 5
5. Watson Glass
6. 5409 Kennedale Street
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 March 22, 2016, 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: March 22, 2016
Agenda Item No: MINUTES APPROVAL - A.
I. Subject:
Consider approval of the minutes from the February 23, 2016 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 - February 23, 2016 -23-16.pdf
_jc
KENNEDALE
Kennedale Economic
Development www.ci yofi(enn Corporation rn ECONOMIC DEVELOPMENT CORPORATION
BOARD OF DIRECTORS - REGULAR MEETING
MINUTES
February 23, 2016
I. CALL TO ORDER
President Mundy called the meeting to order at 7:02 p.m.
II. ROLL CALL
Present: Michael Johnson, Adrienne Kay, Robert Mundy, Pat Turner, Ronald Whitley, Mark
Yeary
Absent: Rebecca Mowell
III. MINUTES APPROVAL
A. Consider approval of the minutes from the January 26, 2016 regular meeting
Motion To approve the January 26, 2016 regular meeting minutes for the Economic
Development Corporation. Action Approve, Moved By Pat Turner, Seconded By Michael
Johnson.
Motion passed Unanimously
IV. REGULAR ITEMS
A. Review and accept the KEDC Financial Report for January 2016
Finance Director, Krystal Crump provided a brief overview of the January 2016 Finance Report
for the Economic Development Corporation. She stated that sales revenue was up compared
to this time last year and expenditures have remained low. Krystal noted that the city has paid
the 380 Agreements with Watson Glass and H & O Die Supply.
Board member Pat Turned questioned where Red's Roadhouse stood on their payment
agreement with the city. Krystal Crump replied that they are currently three months behind.
There was a lengthy discussion concerning this matter and the options available to deal with
their delinquency. Staff agreed to pass this information on to Director Bob Hart; additionally,
Board members requested a copy of the contract and copies of any future correspondence
send out on this matter.
Motion To approve the January 2016 Economic Development Corporation Financial Report.
Action Approve, Moved By Mark Yeary, Seconded By Adrienne Kay.
Motion passed Unanimously
B. Discuss and consider action for approval of Economic Development Corporation
Independent Auditor's Report for year ended September 30, 2015.
Greg Schropshire, CPA with Pattillo, Brown & Hill, LLP provided a summary of the
Independent Auditor's Report for 2015.
Motion To approve the FY 2014-2015 KEDC Independent Auditor's Report as presented.
Action Approve, Moved By Adrienne Kay, Seconded By Ronald Whitley.
Motion passed Unanimously
V. STAFF ANNOUNCEMENTS/REPORTS
A. Village Creek
B. TownCenter
C. Chamber Report
Jack Thompson, Orasi Development/Kennedale Chamber reported on ongoing projects for
Director Bob Hart.
Jack informed the Board that the Army Corps of Engineers feel that the cost ratio is too high to
take on the Village Creek project. He added that Bob Hart is scheduled to meet with them
again tomorrow; however, we do not anticipate a change in their decision. Jack noted that
staff will look at other available options for this project.
Jack continued with an update on the TownCenter development, noting that things are moving
along and Dickey's will start construction in March. He stated that he and Craig Hughes are
actively pursuing other tenants for the existing empty spaces.
Jack reported that the Chamber had good attendance at their February luncheon. He invited
everyone to attend a meet-and-greet for Commission Andy Nguyen on Thursday, February
25th from 11:30 a.m. to 1:30 p.m. Additional items of interest included updates for the
Chamber's annual Clay Shoot scheduled for April 1; the Chamber program Kennedale Cares;
and Chamber website improvements.
VI. EXECUTIVE SESSION
President Mundy recessed into executive session at 7:43 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. TownCenter Building Pad 5
VII. RECONVENE INTO OPEN SESSION, AND TAKE ACTION NECESSARY PURSUANT TO
EXECUTIVE SESSION, IF NEEDED
President Mundy reconvened into open session at 8:01 p.m.
No action was necessary pursuant to the Executive Session.
The March meeting is scheduled to be held on March 22, 2016.
VIII. ADJOURNMENT
Motion To adjourn the February 23, 2016 Economic Development Corporation meeting.
Action Adjourn, Moved By Mark Yeary, Seconded By Adrienne Kay.
Motion passed Unanimously
The meeting was adjourned at 8:04 p.m.
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: March 22, 2016
Agenda Item No: REGULAR ITEMS - A.
I. Subject:
Review and accept the KEDC Financial Report for February 2016
II. Originated by:
Finance Director, Director of Finance & IT
Bob Hart
III. Summary:
Finance Director, Krystal Crump will provide an overview of the February 2016 Kennedale Economic
Development Corporation Financial Report.
IV. Recommendation:
Approve
V. Alternative Actions:
VI. Attachments:
1. IFebruary Financials 016_02 Monthly Financials. df
CITY OF KENNEDALE,TEXAS
ANNUAL PROGRAM OF SERVICES
FEBRUARY MONTHLY FINANCIALS
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 $ 343,162 $ 376,091 $ 258,442 $ 325,601 $ 347,907
AD VALOREM TAXES 35,715 38,075 48,062 787 2,753 0 5.7% 45,309
SALES/BEVERAGE TAXES 88,463 457,222 350,000 38,825 97,452 15,209 27.8% 252,548
INVESTMENT EARNINGS 48 112 80 43 135 40 168.7% (55)
MISCELLANEOUS INCOME 25,426 57,546 384,120 2,000 11,143 - 2.9% 372,977
SURPLUS SALES/RENTALS 38,661 97,515 129,774 15,997 64,323 (4,918) 49.6% 65,451
TOTAL REVENUES $ 188,313 $ 650,469 $ 912,036 $ 57,652 $ 175,806 $ 10,331 19.37o $ 736,230
SUPPLIES - 4,625 3,100 - - - 0.0% 3,100
MAINTENANCE 11,372 25,928 23,592 3,585 5,530 23.4% 18,062
SUNDRY 69,024 202,706 210,258 15,353 64,245 (19,764) 30.6% 146,013
DEBT 59,872 169,796 166,374 - 53,663 (3,475) 32.3% 112,711
TRANSFERS 36,759 153,519 153,519 35,959 (0) 23.4% 117,559
CAPITAL 6,540 122,078 155,000 - (887) 0.0% 155,000
TOTAL EXPENDITURES $ 183,568 $ 678,653 $ 711,842 $ 18,938 $ 159,398 $ (24,127) 22.47o $ 552,445
REVENUES OVER EXPENDITURES $ 4,745 $ (28,184) $ 200,194 $ 38,714 $ 16,408
ENDING FUND BALANCE $ 347,907 $ 347,907 $ 458,635 $ 364,315 $ 364,315
ADJUSTMENTS
FUND BALANCE AS%OF EXP 189.57o 51.37o 64.47o 1923.87o 228.67o
RESERVE(NO REQUIREMENT) $ - $ - $ - $ - $ -
RESERVE SURPLUS/(SHORTFALL) $ 347,907 $ 347,907 $ 458,635 $ 364,315 $ 364,315
"EXEMPLIFYING EXCELLENCE"
CITY OF KENNEDALE,TEXAS
ANNUAL PROGRAM OF SERVICES
FEBRUARY MONTHLY FINANCIALS
15:EDC4B FUND
FY14-15 FY14-15 FY15-16 CURRENT FY15-16 CY-PY % BUDGET BUDGET
INCOME STATEMENT YTD ACTUAL ADOPTED MONTH YTD CHANGE USED REMAINING
OPERATING REVENUES 188,265 650,357 911,956 57,609 175,671 10,291 -108.1% 736,285
OPERATING EXPENDITURES (146,808) (525,134) (533,324) (18,938) (123,438) 24,126 23.1% (409,885)
OPERATING INCOME/(LOSS) 41,457 125,223 378,633 38,671 52,232 34,418 13.876
NONOPERATING REVENUES/(EXPENSES)
INTEREST EARNINGS 28 57 40 19 51 36 127.4% (11)
TRANSFERS IN - - - - - - 0.0% -
(TRANSFER OUT) (36,759) (153,519) (153,519) - (35,959) 0 23.4% (117,559)
NET OPERATING INCOME/(LOSS) 4,726 (28,239) 225,154 38,690 16,324 34,454 7.376
BEGINNING FUND BALANCE $ 193,775 $ 226,740 $ 109,049 $ 176,136 $ 198,501
ENDING FUND BALANCE(EXCLUDING OTHER FUNDS) $ 198,501 $ 198,501 $ 334,203 $ 214,825 $ 214,825
95:EDC413 RESERVE FUND $ 1 19,938 $ 1 19,977 $ 119,977 $ 120,022 $ 120,022
19:EDC413 CAPITAL BOND FUND $ 54,449 $ 4,456 $ 4,456 $ 29,468 $ 29,468
ENDING FUND BALANCE(INCLUDING OTHER FUNDS) $ 372,888 $ 322,934 $ 458,635 $ 364,315 $ 364,315
"EXEMPLIFYING EXCELLENCE"
CITY OF KENNEDALE,TEXAS
ANNUAL PROGRAM OF SERVICES
FEBRUARY MONTHLY FINANCIALS
15:EDC4B 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 $ 193,775 $ 226,740 $ 109,049 $ 176,136 $ 198,501
AD VALOREM TAXES 35,715 38,075 48,062 787 2,753 0 5.7% 45,309
SALES/BEVERAGE TAXES 88,463 457,222 350,000 38,825 97,452 15,209 27.8% 252,548
INVESTMENT EARNINGS 28 57 40 19 51 36 127.4% (11)
MISCELLANEOUS INCOME 25,426 57,546 384,120 2,000 11,143 - 2.9% 372,977
SURPLUS SALES/RENTALS 38,661 97,515 129,774 15,997 64,323 (4,918) 49.6% 65,451
TOTAL REVENUES $ 188,294 $ 650,414 $ 911,996 $ 57,627 $ 175,722 $ 10,327 19.37o $ 736,275
SUPPLIES - 4,625 3,100 - - - 0.0% 3,100
MAINTENANCE 11,372 25,928 23,592 3,585 5,530 23.4% 18,062
SUNDRY 69,024 202,706 210,258 15,353 64,245 (19,764) 30.6% 146,013
DEBT 59,872 169,796 166,374 - 53,663 (3,475) 32.3% 112,711
TRANSFERS 36,759 153,519 153,519 35,959 (0) 23.4% 117,559
CAPITAL 6,540 122,078 130,000 - (887) 0.0% 130,000
TOTAL EXPENDITURES $ 183,568 $ 678,653 $ 686,842 $ 18,938 $ 159,398 $ (24,127) 23.27o $ 527,445
REVENUES OVER EXPENDITURES $ 4,726 $ (28,239) $ 225,154 $ 38,690 $ 16,324
ENDING FUND BALANCE $ 198,501 $ 198,501 $ 334,203 $ 214,825 $ 214,825
ADJUSTMENTS
FUND BALANCE AS%OF EXP 108.17o 29.27o 48.77o 1134.47o 134.87o
RESERVE(NO REQUIREMENT) $ - $ - $ - $ - $ -
RESERVE SURPLUS/(SHORTFALL) $ 198,501 $ 198,501 $ 334,203 $ 214,825 $ 214,825
"EXEMPLIFYING EXCELLENCE"
CITY OF KENNEDALE,TEXAS
ANNUAL PROGRAM OF SERVICES
FEBRUARY MONTHLY FINANCIALS
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 35,715 38,075 48,062 787 2,753 0 5.7% 45,309
AD VALOREM TAXES $ 35,715 $ 38,075 $ 48,062 $ 787 $ 2,753 $ 0 5.77o $ 45,309
4081-00-00 SALES TAX 88,463 457,222 350,000 38,825 97,452 15,209 27.8% 252,548
SALES/BEVERAGE TAXES $ 88,463 $ 457,222 $ 350,000 $ 38,825 $ 97,452 $ 15,209 27.87o $ 252,548
4401-00-00 INVESTMENT INCOME 28 57 40 19 51 36 127.4% (11)
INVESTMENT EARNINGS $ 28 $ 57 $ 40 $ 19 $ 51 $ 36 127.47o $ (11)
4409-00-00 MISCELLANEOUS INCOME 25,426 57,546 384,120 2,000 11,143 - 2.9% 372,977
MISCELLANEOUS INCOME $ 25,426 $ 57,546 $ 384,120 $ 2,000 $ 11,143 $ 2.97o $ 372,977
4805-00-00 RENTAL FEES-SHOPPING CENTER 38,563 97,271 121,274 15,873 63,888 (4,918) 52.7% 57,386
4806-00-00 RENTAL INSURANCE 97 244 8,500 124 435 5.1% 8,065
SURPLUS SALES/RENTALS $ 38,661 $ 97,515 $ 129,774 $ 15,997 $ 64,323 $ (4,918) 49.67o $ 65,451
TRANSFERS $ $ $ $ $ $ - 0.07o $
TOTAL REVENUES $ 188,294 $ 650,414 $ 911,996 $ 57,627 $ 175,722 $ 10,327 19.37o $ 736,275
TOTAL REVENUES(EXCLUDING INTEREST/TRANSFERS) $ 188,265 $ 650,357 $ 911,956 $ 57,609 $ 175,671 $ 10,291
10%ADMIN CHARGE-GENERAL FUND 18,827 65,036 91,196 5,761 17,567 1,029
"EXEMPLIFYING EXCELLENCE"
CITY OF KENNEDALE,TEXAS
ANNUAL PROGRAM OF SERVICES
FEBRUARY MONTHLY FINANCIALS
15: EDC413 FUND
FY15-16
PROPOSED
4002-00-00 MMD TAX-CURRENT YEAR BASED ON FYI 3/14 ASSESSED VALUE OF 48,062 48,062
$2,783,693 AND TOTAL TAX RATE OF
2.880965 PER $100 (MINUS TRACT 1 R
FOR SURPLUS)
CITY OF KENNEDALE:$0.747500
KENNEDALE ISD:$1.492068
TARRANT COUNTY:$0.264000
TARRANT HOSPITAL:$0.227897
TARRANT COLLEGE:$0.149500
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, 4TH PADSITE REMAINING
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
LOAN
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 07131117, 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
INSURANCE CAM
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
"EXEMPLIFYING EXCELLENCE"
CITY OF KENNEDALE,TEXAS
ANNUAL PROGRAM OF SERVICES
FEBRUARY MONTHLY FINANCIALS
15:EDC4B FUND
01:ADMINISTRATION
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
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 $ $ $ 0.07. $ 3,100
5440-01-00 OFFICE EQUIP/SOFTWAREMAINT 1,368 - - 0.0% -
MAINTENANCE $ 1,368 $ - $ - $ $ $ 0.07. $
5501-01-00 ADVERTISING - 359 1,200 0.0% 1,200
5510-01-00 ASSOC DUES/PUBLICATIONS 905 4,755 4,020 1,236 30.7% 2,784
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 2,000 2,000 1,000 1,000 50.0% 1,000
5570-01-00 SPECIAL SERVICES 30,250 82,708 72,600 7,650 33,077 (15,000) 45.6% 39,523
5578-01-00 TRAVEL - 70 100 - - 0.0% 100
5580-01-00 ENGINEERING SERVICES 4,115 17,038 1,000 - - (10,000) 0.0% 1,000
5595-01-00 ADMIN CHARGE-GENERAL FUND 18,827 60,557 91,196 4,870 15,650 6,336 17.2% 75,546
SUNDRY $ 54,097 $ 177,187 $ 173,366 $ 13,520 $ 50,962 $ (27,364) 29.47. $ 122,403
5615-01-00 FUNCTIONAL GRANT - 39,097 - 982 9,559 (37,744) 0.0% (9,559)
DEBT $ $ 39,097 $ $ 982 $ 9,559 $ (37,744) 0.07. $ (9,559)
TRANSFERS $ $ - $ $ $ $ 0.07. $
5800-01-00 LAND 6,540 20,887 (20,887) 0.0%
CAPITAL $ 6,540 $ 20,887 $ $ $ $ (20,887) 0.0% $
TOTAL EXPENDITURES $ 62,005 $ 241,795 $ 176,466 $ 14,502 $ 60,521 $ (85,995) 34.3% $ 115,945
"EXEMPLIFYING EXCELLENCE"
CITY OF KENNEDALE,TEXAS
ANNUAL PROGRAM OF SERVICES
FEBRUARY MONTHLY FINANCIALS
15: EDC413 FUND
01:ADMINISTRATION
FY15-16
PROPOSED
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 $400
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,
FYI 5/16$2250
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
CHAMBER EACH MONTH
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%
CITY/%25 EDC)
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 GENERAL 91,196 91,196
FUND RESOURCES (10% TOTAL REVENUES
EXCLUDING INTEREST/TRANSFERS
5615-01-00 FUNCTIONAL GRANT -
5701-01-00 TRANSFER OUT-GENERAL FUND -
"EXEMPLIFYING EXCELLENCE"
CITY OF KENNEDALE, TEXAS
ANNUAL PROGRAM OF SERVICES FEBRUARY MONTHLY FINANCIALS 5800-01-00 LAND - -
TOTAL EXPENDITURES $ 176,466
"EXEMPLIFYING EXCELLENCE"
CITY OF KENNEDALE,TEXAS
ANNUAL PROGRAM OF SERVICES
FEBRUARY MONTHLY FINANCIALS
15:EDC4B FUND
01:ADMINISTRATION
03:DEBT SERVICE
FY14-15 FY14-15 FY15-16 CURRENT FY15-16 CY-PY % 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 (3,475) 49.9% 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 8,663 17,024 15,798 6,153 (1,226) 38.9% 9,645
5646-01-03 2011 $1.7M TX LEVERAGE-PRI 18,423 37,147 38,373 16,476 1,226 42.9% 21,896
DEBT $ 59,872 $ 169,796 $ 166,374 $ $ 53,663 $ (3,475) 32.3% $ 112,711
5702-01-03 TRANSFER OUT-DEBT SERVICE FUND 36,759 153,519 153,519 35,959 (0) 23.4% 117,559
TRANSFER $ 36,759 $ 153,519 $ 153,519 $ $ 35,959 $ (0) 23.4% $ 117,559
TOTAL EXPENDITURES $ 96,632 $323,315 $ 319,893 $ $ 89,623 $ (3,475) 28.07. $ 230,270
"EXEMPLIFYING EXCELLENCE"
CITY OF KENNEDALE,TEXAS
ANNUAL PROGRAM OF SERVICES
FEBRUARY MONTHLY FINANCIALS
15: EDC413 FUND
01: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
NOT CHARGE.
5643-01-03 2007$1.2M TAX BOND-INTEREST DUE 11/01 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 $1.7M 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
"EXEMPLIFYING EXCELLENCE"
CITY OF KENNEDALE,TEXAS
ANNUAL PROGRAM OF SERVICES
FEBRUARY MONTHLY FINANCIALS
15:EDC4B FUND
02:TOWN SHOPPING CENTER
FY14-15 FY14-15 FY15-16 CURRENT FYI 5-16 CY- PY %OF BUDGET BUDGET
ACCOUNT ACCOUNT NAME YTD ACTUAL ADOPTED MONTH YTD CHANGE USED REMAINING
SUPPLIES $ $ $ $ $ $ 0.0% $
5403-02-00 BUILDING MAINTENANCE 10,004 25,928 23,592 3,585 5,530 23.4% 18,062
MAINTENANCE $ 10,004 $ 25,928 $ 23,592 $ 3,585 $ 5,530 $ 23.47. $ 18,062
5530-02-00 ELECTRIC SERVICES 1,684 4,380 5,000 833 2,082 41.6% 2,918
5545-02-00 INSURANCE-PROPERTY 6,347 6,347 8,500 - 6,121 72.0% 2,379
5570-02-00 SPECIAL SERVICES 6,896 14,792 13,392 1,000 5,080 37.9% 8,312
SUNDRY $ 14,928 $ 25,519 $ 26,892 $ 1,833 $ 13,283 $ 49.47. $ 13,609
TOTAL EXPENDITURES $ 24,931 $ 51,447 $ 50,484 $ 5,418 $ 18,813 $ 37.37. $ 31,671
"EXEMPLIFYING EXCELLENCE"
CITY OF KENNEDALE,TEXAS
ANNUAL PROGRAM OF SERVICES
FEBRUARY MONTHLY FINANCIALS
15: EDC413 FUND
02:TOWN SHOPPING CENTER
FY15-16
PROPOSED
5403-02-00 BUILDING MAINTENANCE WATER ($350/MONTH) 4,200 23,592
FIRE SPRINKLER-CAM ($150/QUARTER) 600
LANDSCAPE/MATERIALS-CAM
($1 166/MONTH) 13,992
MAINTENANCE-CAM ($400/MONTH) 4,800
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 6,000 13,392
PER MONTH)
SEP 2015 - FEB 2017: SUBWAY $150, ACE 7,392
$466 OR$7392 FY15/16- FYI 6117 ANNUAL
MAR 2017 - AUG 2018: SUBWAY$150 OR -
1800 FY 17/18 ANNUAL
TOTAL EXPENDITURES $ 50,484
"EXEMPLIFYING EXCELLENCE"
CITY OF KENNEDALE,TEXAS
ANNUAL PROGRAM OF SERVICES
FEBRUARY MONTHLY FINANCIALS
15:EDC413 FUND
03: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
5580-03-00 ENGINEERING SERVICES 10,000 10,000 0.0% 10,000
SUNDRY $ $ $ 10,000 $ $ $ 10,000 0.07. $ 10,000
5847-03-00 CONSTRUCTION 80,000 80,000 0.0% 80,000
CAPITAL $ $ $ 80,000 $ $ $ 80,000 0.07. $ 80,000
$ $ $ 90,000 $ $ $ 90,000 0.0% $ 90,000
"EXEMPLIFYING EXCELLENCE"
CITY OF KENNEDALE, TEXAS
ANNUAL PROGRAM OF SERVICES
FEBRUARY MONTHLY FINANCIALS
15: EDC413 FUND
03:TOWN CENTER REDEVELOPMENT
FY15-16
PROPOSED
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
TOTAL EXPENDITURES $ 90,000
"EXEMPLIFYING EXCELLENCE"
CITY OF KENNEDALE,TEXAS
ANNUAL PROGRAM OF SERVICES
FEBRUARY MONTHLY FINANCIALS
15:EDC413 FUND
04:TEXAS LEVERAGE PROGRAM
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
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
"EXEMPLIFYING EXCELLENCE"
CITY OF KENNEDALE, TEXAS
ANNUAL PROGRAM OF SERVICES
15: EDC4B FUND FEBRUARY MONTHLY FINANCIALS
04: TEXAS LEVERAGE PROGRAM
FY15-16
PROPOSED
5800-00-00 LAND HOTELPROPERTY 50,000 50,000
TOTAL EXPENDITURES $ 50,000
"EXEMPLIFYING EXCELLENCE"
CITY OF KENNEDALE,TEXAS
ANNUAL PROGRAM OF SERVICES
FEBRUARY MONTHLY FINANCIALS
19:EDC4B 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 $ 29,440 $ 29,429 $ 29,441 $ 29,461 $ 29,444
INVESTMENT EARNINGS 5 15 15 7 24 (5) 157.1% (9)
TOTAL REVENUES $ 5 $ 15 $ 15 $ 7 $ 24 $ (5) 157.1% $ (9)
CAPITAL - - 25,000 - - - 0.0% 25,000
TOTAL EXPENDITURES $ - $ - $ 25,000 $ - $ - $ 0.0% $ 25,000
REVENUES OVER EXPENDITURES $ 5 $ 15 $ (24,985) $ 7 $ 24
ENDING FUND BALANCE $ 29,444 $ 29,444 $ 4,456 $ 29,468 $ 29,468
ADJUSTMENTS
FUND BALANCE AS%OF EXP N/A N/A 17.8% N/A N/A
RESERVE(NO REQUIREMENT) $ - $ - $ - $ - $ -
RESERVE SURPLUS/(SHORTFALL) $ 29,444 $ 29,444 $ 4,456 $ 29,468 $ 29,468
"EXEMPLIFYING EXCELLENCE"
CITY OF KENNEDALE,TEXAS
ANNUAL PROGRAM OF SERVICES
FEBRUARY MONTHLY FINANCIALS
19:EDC4B CAPITAL BOND FUND
FY14-15 FY14-15 FY15-16 CURRENT FYI 5-16 CY- PY OF BUDGET BUDGET
ACCOUNT ACCOUNT NAME YTD ACTUAL ADOPTED MONTH YTD CHANGE USED REMAINING
4401-00-00 INVESTMENT INCOME 5 15 15 7 24 (5) 157.1% (9)
INVESTMENT EARNINGS $ 5 $ 15 $ 15 $ 7 $ 24 $ (5) 157.1% $ (9)
TRANSFERS $ - $ - $ $ - $ - $ 0.0% $
TOTAL REVENUES $ 5 $ 15 $ 15 $ 7 $ 24 $ (5) 157.1% $ (9)
19:EDC4B CAPITAL BOND FUND
01: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
"EXEMPLIFYING EXCELLENCE"
CITY OF KENNEDALE, TEXAS
ANNUAL PROGRAM OF SERVICES
FEBRUARY MONTHLY FINANCIALS
19: EDC413 CAPITAL BOND FUND
FY15-16
PROPOSED
4401-00-00 INVESTMENT INCOME EARNING BASED UPON AVERAGE 15
BALANCE/INTEREST RATES
TOTAL REVENUES
19: EDC413 CAPITAL BOND FUND
01: TOWN CENTER REDEVELOPMENT
FY15-16
PROPOSED
5847-01-00 CONSTRUCTION WATER TANK IN TOWNCENTER 25,000 25,000
TOTAL EXPENDITURES $ 25,000
"EXEMPLIFYING EXCELLENCE"
CITY OF KENNEDALE,TEXAS
ANNUAL PROGRAM OF SERVICES
FEBRUARY MONTHLY FINANCIALS
95:EDC4B RESERVE FUND
FYI 4-15 FY14-15 FY15-16 CURRENT FY15-16 CY- PY %OF BUDGET BUDGET
CATEGORY YTD ACTUAL ADOPTED MONTH YTD CHANGE USED REMAINING
BEGINNING FUND BALANCE $ 119,947 $ 119,922 $ 119,952 $ 120,004 $ 119,962
INVESTMENT EARNINGS 15 40 25 18 60 9 241.9% (35)
TOTAL REVENUES $ 15 $ 40 $ 25 $ 18 $ 60 $ 9 241.97. $ (35)
TOTAL EXPENDITURES $ - $ - $ - $ - $ - $ - 0.07. $ -
REVENUES OVER EXPENDITURES $ 15 $ 40 $ 25 $ 18 $ 60
ENDING FUND BALANCE $ 119,962 $ 119,962 $ 119,977 $ 120,022 $ 120,022
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) $ 7,356 $ 7,356 $ 7,371 $ 7,416 $ 7,416
"EXEMPLIFYING EXCELLENCE"
CITY OF KENNEDALE,TEXAS
ANNUAL PROGRAM OF SERVICES
FEBRUARY MONTHLY FINANCIALS
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 15 40 25 18 60 9 241.9% (35)
INVESTMENT EARNINGS $ 15 $ 40 $ 25 $ 18 $ 60 $ 9 241.9% $ (35)
TRANSFERS $ - $ - $ - $ - $ $ - 0.0% $
■
TOTAL REVENUES $ 15 $ 40 $ 25 $ 18 $ 60 $ 9 241.9% $ (35)
95:EDC413 RESERVE FUND ol
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% $
"EXEMPLIFYING EXCELLENCE"
CITY OF KENNEDALE, TEXAS
ANNUAL PROGRAM OF SERVICES
95: EDC4B RESERVE FUND FEBRUARY MONTHLY FINANCIALS
FY15-16
PROPOSED
4401-00-00 INVESTMENT INCOME EARNING BASED UPON AVERAGE 25
BALANCE/INTEREST RATES
TOTAL REVENUES
FY15-16
PROPOSED
TOTAL EXPENDITURES
"EXEMPLIFYING EXCELLENCE"
ic
KENNEDALE
Kennedale Economic
Development Corporation
www.cityofkennedale.com
STAFF REPORT TO THE BOARD OF DIRECTORS
Date: March 22, 2016
Agenda Item No: STAFF ANNOUNCEMENTS/REPORTS - A.
I. Subject:
Oak Crest Development
B. TownCenter
C. Chamber Report
II. Originated by:
Bob Hart
III. Summary:
The Director will provide an update on these items.
• Oak Crest Development
• TownCenter
• 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: March 22, 2016
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. High Ridge Land Trade
4. TownCenter Building Pad 5
5. Watson Glass
6. 5409 Kennedale Street
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
• High Ridge Land Trade
• TownCenter Building Pad 5
• Watson Glass
• 5409 Kennedale Street
IV. Recommendation:
V. Alternative Actions:
VI. Attachments: