2016_04.26 EDC Packet ic
KENNEDALE
Kennedale Economic
Development Corporation
www.cityofkennedale.com
ECONOMIC DEVELOPMENT CORPORATION
AGENDA
BOARD OF DIRECTORS - REGULAR MEETING
April 26, 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 March 22, 2016 regular meeting
IV. REGULAR ITEMS
A. Review and accept the KEDC Financial Report for March 2016
B. Consider grant award to Watson Glass to assist with business expansion at 620 Tower Drive
V. STAFF ANNOUNCEMENTS/REPORTS
A. Oak Crest Development
B. TownCenter
C. Goss International
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. 536 and 600 Bowman Springs Road
2. 1200 Block Bowman Springs Road
3. 6900 Block Kennedale Parkway
4. TownCenter Building Pad 5
5. Hospitality Project
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 April 26, 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 Telephone: 817.985.2102 Fax: 817-478-7169
ic
KENNEDALE
Kennedale Economic
Development Corporation
www.cityofkennedale.com
STAFF REPORT TO THE BOARD OF DIRECTORS
Date: April 26, 2016
Agenda Item No: MINUTES APPROVAL - A.
I. Subject:
Consider approval of the minutes from the March 22, 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 - March 22, 2016 3-22-16. df
_jc
KENNEDALE
Kennedale Economic
Development www.ci yofi(enn Corporation rn ECONOMIC DEVELOPMENT CORPORATION
BOARD OF DIRECTORS - REGULAR MEETING
MINUTES
March 22, 2016
I. CALL TO ORDER
President Mundy called the meeting to order at 7:03 p.m.
II. ROLL CALL
Present: Rebecca Mowell, Robert Mundy, Pat Turner, Mark Yeary, Michael Johnson
Absent: Adrienne Kay, Ronald Whitley
Marcel Terry, owner of One-2-One Clothing was in attendance for the regular session of the
Economic Development Corporation meeting.
III. MINUTES APPROVAL
A. Consider approval of the minutes from the February 23, 2016 regular meeting
Pat Turner requested a change in the minutes stating that Robert Mundy was the committee
member who questioned the status of Red's Roadhouse. The minutes were corrected to
reflect the change.
Motion To approve the March 22, 2016 Economic Development Corporation minutes with
a name correction. Action Approve, Moved By Michael Johnson, Seconded By Mark Yeary.
Motion passed Unanimously
IV. REGULAR ITEMS
A. Review and accept the KEDC Financial Report for February 2016
Finance Director, Krystal Crump provided a brief overview of the February 2016 Finance
Report for the Economic Development Corporation. She stated that Red's Roadhouse was up
to date on their payment agreement. She added that sales tax revenue was doing very well
this year and that the City's March revenues were the best ever for that month.
Kennedale business owner Marcel Terry questioned who gets the fees collected for annual
business licenses. Krystal stated that the annual fees go to the City.
V. STAFF ANNOUNCEMENTS/REPORTS
A. Oak Crest Development
B. TownCenter
C. Chamber Report
Executive Director Bob Hart updated activities at TownCenter stating that the City is waiting for
final plans for the Dickies building; additionally, he noted that Dollar General currently has a
remodel underway. Bob announced that the next Tax Increment Reinvestment Zone (TIRZ)
meeting is scheduled for Monday, April 18 th at 2:00 p.m.
For the Oak Crest development project, the State is requiring the City to extend the median
back to Link Street. The City made a formal request with TxDot to include the median as a
change order to the current sidewalk project. Bob concluded that this change is important to
the development of the Showtime property and that he hopes to accelerate the medians to
start work within the next few weeks.
Jack Thompson, Orasi Development, provided an update on Chamber activities noting that the
annual Clay Shoot is scheduled for April 1s' at Alpine. He added that the meet-and-greet for
Tarrant County Commissioner Andy Nguyen on February 25th was well attended and he hopes
to make it an annual event; Jack added that at the April luncheon the Commissioner will
provide a State of the County address. Additional items of interest included updates to the
Chamber website, the Business After Hours event, and Chamber President-elect Becky
Mowell to take office effective June 1st.
VI. EXECUTIVE SESSION
President Mundy recessed into executive session at 7:30 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. 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
President Mundy reconvened into open session at 8:10 p.m.
No action was necessary pursuant to the Executive Session.
The April meeting is scheduled to be held on April 26, 2016.
VIII. ADJOURNMENT
Motion To adjourn the March 22, 2016 Economic Development Corporation meeting.
Action Adjourn, Moved By Pat Turner, Seconded By Rebecca Mowell.
Motion passed Unanimously
The meeting was adjourned at 8:13 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: April 26, 2016
Agenda Item No: REGULAR ITEMS - A.
I. Subject:
Review and accept the KEDC Financial Report for March 2016
II. Originated by:
Finance Director, Director of Finance & IT
Bob Hart
III. Summary:
Finance Director, Krystal Crump will provide an overview of the March 2016 Kennedale Economic
Development Corporation Financial Report.
IV. Recommendation:
Approve
V. Alternative Actions:
VI. Attachments:
1. Imarch Financials 016 03 Monthly Financials. df
CITY OFKENN5DAL , TEXAS
ANNUAL PROGRAM OFSERVICES
MONTHLY FINANCIALS
ECONOMIC DEVELOPMENT CORPORATION FINANCIALS SUMMARY
Budc
iet Amendment
No amendments.
Monthly Information
Sales Taxes are slightly exceeding budget expectations and prior year numbers to date.
Electricity has been turned on for vacant buildings and EDC is paying the town center for these costs.
Functional Grant line item - paid out property taxes for H &0 and paying out sales taxes for H20 per
380 agreements.
EDCcnxered $5,000 of the Brickworks festival and that has been charged to special services.
Rental Fees, MMO Tax and Rental Insurance are reported on the Accrual Basis ofAccounting, while all
other revenues and expenditures are reported pnthe Cash Basis. This procedure has been in effect for
several yeane, but can be changed should the Board wish.
KmstdCrun)p
Finance Director
ADDITIONAL INFORMATION
FUND 1S-OPERATING FUND (ALL BILLS AND REVENUE RECEIVED |N THIS FUND)
FUND 1B-CAPITAL BOND FUND(REMAINING CAPITAL MONEY)
FUND 9S- RESERVE FUND FOR DEBT REQUIREMENTS
"EXEMPLIFYING EXCELLENCE"
CITY OF KENNEDALE,TEXAS
ANNUAL PROGRAM OF SERVICES
MONTHLY FINANCIALS
EDC CASH POSITION
FY14-15 FYI 5-16 CURRENT FY15-16
CATEGORY ACTUAL PROPOSED MONTH YTD
BEGINNING CASH BALANCE-FUND 15 $ 177,198 $ 90,295 $ 144,902 $ 90,295
BEGINNING TEXPOOL BALANCE-FUND 15 $ 19 $ 19 $ 19 $ 19
BEGINNING TEXPOOL BALANCE-FUND 19 $ 29,429 $ 29,444 $ 29,468 $ 29,444
BEGINNING CASH BALANCE-FUND 95 $ 119,922 $ 119,962 $ 120,022 $ 119,962
TOTAL REVENUES $ 650,469 $ 912,036 $ 48,434 $ 224,240
TOTAL EXPENDITURES $ 694,023 $ 711,842 $ 24,948 $ 184,346
CHANGE IN CASH DURING PERIOD $ (86,848) $ 200,165 $ 22363 $ 77,454
ENDING CASH BALANCE-FUND 15 $ 90,295 $ 315,449 $ 167,640 $ 167,640
ENDING TEXPOOL BALANCE-FUND 15 $ 19 $ 19 $ 19 $ 19
ENDING TEXPOOL BALANCE-FUND 19 $ 29,444 $ 4,456 $ 29,476 $ 29,476
ENDING CASH BALANCE-FUND 95 $ 119,962 $ 119,962 $ 120,038 $ 120,038
"EXEMPLIFYING EXCELLENCE"
CITY OF KENNEDALE,TEXAS
ANNUAL PROGRAM OF SERVICES
MONTHLY FINANCIALS
ALL EDC FUNDS
FY14-15 FY14-15 FY15-16 CURRENT FY15-16 CY-PY % BUDGET BUDGET
CATEGORY YTD ACTUAL ADOPTED MONTH YTD CHANGE USED REMAINING
BEGINNING FUND BALANCE $ 308,150 $ 376,091 $ 258,442 $ 348,945 $ 332,537
AD VALOREM TAXES 36,108 38,075 48,062 393 3,146 0 6.5% 44,916
SALES/BEVERAGETAXES 112,668 457,222 350,000 29,355 126,806 15,209 36.2% 223,194
INVESTMENT EARNINGS 60 112 80 46 181 40 226.0% (101)
MISCELLANEOUS INCOME 28,878 57,546 384,120 10,642 21,786 - 5.7% 362,334
SURPLUS SALES/RENTALS 48,326 97,515 129,774 7,999 72,321 (4,918) 55.77o 57,453
TOTAL REVENUES $ 226,040 $ 650,469 $ 912,036 $ 48,434 $ 224,240 $ 10,331 330.2% $ 687,796
SUPPLIES - 4,625 3,100 - - - 0.0% 3,100
MAINTENANCE 12,632 39,375 23,592 1,738 7,268 30.8% 16,324
SUNDRY 81,335 204,628 210,258 18,637 82,882 (19,764) 39.4% 127,375
DEBT 64,386 169,796 166,374 4,573 58,236 (3,475) 35A% 108,138
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 $ 201,653 $ 694,023 $ 711,842 $ 24,948 $ 184,346 $ (24,127) 1283°/ $ 527,497
REVENUES OVER EXPENDITURES $ 24,387 $ (43,553) $ 200,194 $ 23,487 $ 39,895
ENDING FUND BALANCE $ 332,537 $ 332,537 $ 458,635 $ 372,432 $ 372,432
ADJUSTMENTS
FUND BALANCE AS%OF EXP 164.9% 47.9% 64.4% 1492.8% 202.0%
RESERVE(NO REQUIREMENT) $ - $ - $ - $ - $ -
RESERVE SURPLUS/(SHORTFALL) $ 332,537 $ 332,537 $ 458,635 $ 372,432 $ 372,432
"EXEMPLIFYING EXCELLENCE"
CITY OF KENNEDALE,TEXAS
ANNUAL PROGRAM OF SERVICES
MONTHLY FINANCIALS
15:EDC4111 FUND
FY14-15 FY14-15 FYI5-16 CURRENT FY15-16 CY-PY % BUDGET BUDGET
INCOME STATEMENT YID ACTUAL ADOPTED MONTH YTD CHANGE USED REMAINING
OPERATING REVENUES 225,980 650,357 911,956 48,389 224,059 10,291 (2) 687,897
OPERATING EXPENDITURES (164,893) (540,504) (533,324) (24,948) (148,386) 24,126 (0) (384.937)
OPERATING INCOME/(LOSS) 61,087 109,853 378,633 23,441 75,673 34,416 (2) 302,960
NONOPERATING REVENUES/(EXPENSES)
INTEREST EARNINGS 35 57 40 21 72 36 2 (32)
TRANSFERS IN - - - - - - - -
(TRANSFER OUT) (36,759) (153,519) (153,519) - (35,959) 0 (0) (117,559)
NET OPERATING INCOME/(LOSS) 24,363 (43,608) 225,154 23,462 39,786 34,454 (0) 185,368
BEGINNING FUND BALANCE $ 158,769 $ 226,740 $ 109,049 $ 199,455 $ 183,131
ENDING FUND BALANCE(EXCLUDING OTHER FUNDS) $ 183,131 S 183,131 $ 334,203 $ 222,917 $ 222,917
95:EDC48 RESERVE FUND $ 119.938 S 119,977 $ 119,977 $ 120,038 $ 120,038
19:EDC413 CAPITAL BOND FUND $ 54,449 $ 4,456 $ 4.456 $ 29,476 $ 29,476
ENDING FUND BALANCE(INCLUDING OTHER FUNDS) $ 357,518 $ 307,564 $ 458,635 $ 372,432 $ 372,432
"EXEMPLIFYING EXCELLENCE"
CITY OF KENNEDALE,TEXAS
ANNUAL PROGRAM OF SERVICES
MONTHLY FINANCIALS
15:EDC413 FUND
FY14-15 FY14-15 FY15-16 CURRENT FYIS-16 CY-PY % BUDGET BUDGET
CATEGORY YTD ACTUAL ADOPTED MONTH YTD CHANGE USED REMAINING
BEGINNING FUND BALANCE $ 158,769 $ 226,740 $ 109,049 $ 199,455 $ 183,131
AD VALOREM TAXES 36,108 38,075 48,062 393 3,146 0 6.50/0 44,916
SALES/BEVERAGE TAXES 112,668 457,222 350,000 29,355 126,806 15,209 36.2% 223,194
INVESTMENT EARNINGS 35 57 40 21 72 36 180.6% (32)
MISCELLANEOUS INCOME 28,878 57,546 384,120 10,642 21,786 - 5.7% 362,334
SURPLUS SALEWENTALS 48,326 97,515 129,774 7,999 72,321 (4,918) 55.7% 57,453
TOTAL REVENUES $ 226,016 $ 650,414 $ 911,996 $ 48,410 $ 224,131 $ 10,327 24.6% $ 687,865
SUPPLIES - 4,625 3,100 - - - 0.0% 3,100
MAINTENANCE 12,632 39,375 23,592 1,738 7,268 30.8% 16,324
SUNDRY 81,335 204,628 210,258 18,637 82,882 (19,764) 39.4% 127,375
DEBT 64,386 169,796 166,374 4,573 58,236 (3,475) 35.0% 108,138
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 $ 201,653 $ 694,023 $ 686,842 $ 24,948 $ 184,346 $ (24,127) 26.8% $ 502,497
REVENUES OVER EXPENDITURES S 24,363 $ (43,608) $ 225,154 $ 23,462 $ 39,786
ENDING FUND BALANCE $ 183,131 $ 183,131 $ 334,203 $ 222,917 $ 222,917
ADJUSTMENTS
FUND BALANCE AS%OF EXP 90.8% 26.4% 48.7% 893.5% 120.9%
RESERVE(NO REQUIREMENT) $ - $ - $ - $ - $ -
RESERVE SURPLUSJ(SHORTFALL) $ 183,131 $ 183,131 $ 334,203 $ 222,917 $ 222,917
"EXEMPLIFYING EXCELLENCE"
CITY OF KENNEDALE,TEXAS
ANNUAL PROGRAM OF SERVICES
MONTHLY FINANCIALS
15:EDC43 FUND
FY14-15 FY14-15 FY15-16 CURRENT FY15-16 CY-PY % BUDGET BUDGET
ACCOUNT ACCOUNT NAME YTD ACTUAL ADOPTED MONTH YTD CHANGE USED REMAINING
4002-00-DO MMD TAX-CURRENT YEAR 36,108 38,075 48,062 393 3,146 0 6.5% 44,916
AD VALOREM TAXES $ 36,108 $ 38,075 $ 48,062 $ 393 $ 3,146 $ 0 6-511. $ 44,916
4081-0000 SALESTAX 112,668 457,222 350M 29,355 1261806 15,209 36.2% 223,194
SALES/BEVERAGE TAXES $ 112,668 $ 457,222 $ 350,000 $ 29,355 $ 126,806 $ 15,209 36.2% $ 223,194
4401-00-00 INVESTMENT INCOME 35 57 40 21 72 36 180.6% (32)
INVESTMENT EARNINGS $ 35 $ 57 $ 40 $ 21 $ 72 $ 36 180.6% $ (32)
4409-00-00 MISCELLANEOUS INCOME 26,878 57,546 384,120 10,642 21,786 - 5.7% 362,334
MISCELLANEOUS INCOME $ 28,878 $ 57,546 $ 384,120 $ 10,642 $ 21,786 $ - 5.7% $ 362,334
4805-00-00 RENTAL FEES-SHOPPING CENTER 48,204 97,271 121,274 7,936 71,824 (4,918) 59.2% 49,450
4806-00-00 RENTAL INSURANCE 122 244 8,500 62 497 5.8% 8,003
SURPLUS SALESIRENTALS $ 48,326 $ 97,515 $ 129,774 $ 7,999 $ 72,321 $ (4,918) 55.7% $ 57,453
TRANSFERS $ - $ - $ - $ - $ - $ - 0.0% $
TOTAL REVENUES $ 226,016 $ 650,414 $ 911,996 $ 48,410 $ 224,131 $ 10,327 24.6% $ 667,865
TOTAL REVENUES(EXCLUDING INTERESTARANSFERS) $ 225,980 $ 650,357 $ 911,956 $ 48,389 $ 224,059 $ 10,291
10%ADMIN CHARGE-GENERAL FUND 65,036 91,196 4,839 22,406 1,029
"EXEMPLIFYING EXCELLENCE"
CITY OF KENNEDALE,TEXAS
ANNUAL PROGRAM OF SERVICES
MONTHLY FINANCIALS
15:EDC4B FUND
FY15-16
PROPOSED
4002-00-00 MMD TAX-CURRENT YEAR BASED ON FY13/14 ASSESSED VALUE 48,062 48,062
OF$2,783,693 AND TOTAL TAX RAIL OF
2.880965 PER $100 (MINUS TRACT 1R
FOR SURPLUS)
CITY OF KENNEDALE; $0.747500
KENNEDALE ISD: $1.492068
TARRANT COUNTY: $0.264000
IARRANT HOSPITAL: $0,227897
4081-00-00 SALES TAX GENERALLY BUDGLT 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
4409-0000 MISCELLANEOUS INCOME SALE OF 1121 WEST KENNEDALE 360,000 384,120
PARKWAY
(APACHL/NACHO/FOX/WHEELFR/HUN
DE PURCHASED FY09/10) - 3RD
PADI,ITF ATH PAI)SITF RFMAININ(--
MONTHLY FEE FROM CHAMBER FOR 24,000
SERVICES($2000 MONTH)
MONTHLY FEE FROM CHAMBER PER 120
RENTAL AGREEMENT ($10 MONTH)
PLUS$I QQ DEPOSIT
4411-00-00 TX LEVERAGE PROD REIMBURSEMENTS PRINCIPAL & INTEREST PAYMENTS -
RECEIVED FROM GROVER TO
REIMBURSE THE STATE EDC FOR $1.7M
I DAN
4805-0000 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 S 911,996
"EXEMPLIFYING EXCELLENCE"
CITY OF KENNEDALE,TEXAS
ANNUAL PROGRAM OF SERVICES
MONTHLY FINANCIALS
IS:EDC4BFUND
01:ADMINISTRATION
FY14-15 FY14-15 FYI 5-16 CURRENT FY15-16 CY-PY % BUDGET BUDGET
ACCOUNT ACCOUNT NAME YTD ACTUAL ADOPTED MONTH YID CHANGE USED REMAINING
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
5403-01-00 BUILDING MAINTENANCE 1,368 - - 0.0% -
MAINTENANCE $ 1,368 $ - $ - $ $ $ 0.0% $ -
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 1,000 2,000 2,000 1.000 2.000 100.0% -
5570-01-00 SPECIALSERVICES 36,932 82,708 72,600 11,300 44,377 (15,000) 61.1% 28,223
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 22,598 60,557 91,196 4,839 20,488 6,336 22.5% 70,707
SUNDRY $ 65,550 $ 177,187 $ 173,366 $ 17,139 $ 68,101 $ (27,364) 39.3% $ 105,264
5615-01-00 FUNCTIONAL GRANT 39,097 - 723 10,283 (37,744) 0.0% (10,283)
DEBT $ - $ 39,097 $ $ 723 $ 10,283 $ (37,744) 0.0% $ (10,283)
5800-01-00 LAND 6,540 20,887 - - (20,887) 0.0%
CAPITAL $ 6,540 $ 20,887 $ $ - $ - $ (20,867) 0.0% $ -
TOTAL EXPENDITURES $ 73,459 $ 241,795 $ 176,466 $ 17,862 S 78,384 $ (85,995) 44.4% $ 98,082
"EXEMPLIFYING EXCELLENCE"
CITY OF KENNEDALE,TEXAS
ANNUAL PROGRAM OF SERVICES
MONTHLY FINANCIALS
15:EDC4B 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 - -
PRFSENTATIONS 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 (FY11/12 $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 LDC
SERVICES, $2000 FOR CHAMBER SERVICES) -
$2000 DIRECT REVENUE OFFSET FROM
C-HANA M FAr W nnnr lTH
CONTRACT WITH MUNISERVICES FOR SALES TAX -
AUDIT SERVICES, 35% CONTINGENCY IF
REALLOCATIONS ARE UNCOVERED DUE TO
REPORTING ERRORS (APPLIES TO FIRST 8
CONSECUTIVE DEPORTING QUARTERS
FOLLOWING CORRECTION, SHARED 75%
('1TVl017F Fnr"1
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 ACTIVITILS/PROJECTS (I.E., 1,000 1,000
HOTEL ETC.
5585-01-00 TELEPHONE SERVICES - -
6595-01-00 ADMIN CHARGE-GENERAL FUND CHARGE FOR SERVICES PROVIDED BY 91,196 91,196
GENERAL FUND RESOURCES (10% TOTAL
5615-01-00 FUNCTIONAL GRANT - -
5701-01-00 TRANSFER OUT-GENERAL FUND
5800-01-00 LAND -
TOTAL EXPENDITURES $ 176,466
"EXEMPLIFYING EXCELLENCE"
CITY OF KENNEDALE,TEXAS
ANNUAL PROGRAM OF SERVICES
MONTHLY FINANCIALS
15:EDC4BFUND
01:ADMINISTRATION
03:DEBT SERVICE
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
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 - O,D% 50,000
5645-01-03 2011 $1.7M TX LLVERAGF-I NT 10,077 77,024 15,798 1.423 7,576 (1,226) 48.0% 8,222
5646-01-03 2011 $1.7MTXLEVLRAGE-PRI 21,523 37,147 38,373 3,150 19,626 1,226 51.1% 18,747
DEBT $ 64,386 $ 169,796 $ 166,374 $ 4,573 $ 58,236 $ (3,475) 35.0% $ 108,138
5702-01-03 TRANSFER OUT-DFBT SERVICE FUND 36359 153,519 153,519 - 35,959 (D) 23.4% 117,559
TRANSFER $ 36,759 $ 153,519 $ 153,519 $ - $ 35,959 $ (0) 23.4% $ 117,559
TOTAL EXPENDITURES $ 101,146 $ 323,315 $ 319,893 $ 4,573 $ 94,195 $ (3,475) 29.4% $ 225,697
"EXEMPLIFYING EXCELLENCE"
CITY OF KENNEDALE,TEXAS
ANNUAL PROGRAM OF SERVICES
MONTHLY FINANCIALS
15:EDC4B FUND
O1:ADMINISTRATION
03:DEBT SERVICE
FY15-16
PROPOSED
5620-01-03 ISSUANCE COSTS AGENT FEES TO HANDLE BOND
AMORTIZATIO S _
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 05101
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
11101/2011)
5646-01-03 2011 $1.7M TX LEVERAGE-PRI DUE BY 1ST OF EACH MONTH (BEGINS 38,373 36,373
11 J01 2011
5702-01-03 TRANSFER OUT-DEBT SERVICE FUND DUE 11/01 INTEREST ; 2010 $2.OM CO 36,759 153,519
BOND
DUE 05101 INTEREST 2010 $2.OM CO 36,759
BOND
DUE 05/01 PRINCIPAL : 2010 $2,01A CO 80,000
BOND
TOTAL EXPENDITURES $ 319,893
"EXEMPLIFYING EXCELLENCE"
CITY OF KENNEDALE,TEXAS
ANNUAL PROGRAM OF SERVICES
MONTHLY FINANCIALS
15:EDC4B 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
5403-02-00 BUILDING MAINTENANCE 11,264 39,375 23,592 1,738 7,268 34,8% 16,324
MAINTENANCE $ 11,264 $ 39,375 $ 23,,592 $ 1,738 $ 7,268 $ 30-8%0 $ 16,324
5530-02-00 ELECTRIC SERVICES 2,041 5,297 5,000 382 2,464 49.3% 2,536
5545-02-00 INSURANCE-PROPERTY 6,347 6,347 81500 - 6,121 72.0% 2,379
5570-02-00 SPECIAL SERVICES 7,396 15,797 13,392 1,116 6,196 46.30/. 7,196
SUNDRY $ 15,785 $ 27,441 $ 26,892 $ 1,498 $ 14,781 $ 55-0%a $ 12,111
TOTAL EXPENDITURES $ 27,049 $ 66,817 $ 50,484 $ 3,236 $ 22,049 $ 43.7% $ 28,435
"EXEMPLIFYING EXCELLENCE"
CITY OF KENNEDALE,TEXAS
ANNUAL PROGRAM OF SERVICES
MONTHLY FINANCIALS
15:EDC413 FUND
02:TOWN SHOPPING CENTER
FYIS-16
PROPQ
5403-02-00 BUILDING MAINTENANCE WATER($350/MONTH) 4,200 23,592
FIRE SPRINKLER-CAM($150/QUARTER) 600
LANDSCAPE/MATFRI ALS-CAM
($1166/MONTH) 13,992
MAINTENANCE-CAM($400/MONTH) 4,800
5530-02-00 ELECTRIC SERVICES ELFCTRICITY-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 2016 - FEB 2017: SUBWAY $150, ACE 7,392
$4660R$7392 FY15/16-FY16117 ANNUAL
MAR 2017 - AUG 2018: SUBWAY $150 OR -
1800 FYI 7118 ANNUAL
TOTAL EXPENDITURES $ 50,484
"EXEMPLIFYING EXCELLENCE"
CITY OF KENNEDALE,TEXAS
ANNUAL PROGRAM OF SERVICES
MONTHLY FINANCIALS
15:EDC46 FUND
03:TOWN CENTER REDEVELOPMENT
FY14-15 FYI 4-15 FY15-16 CURRENT FY15-16 CY-PY %OF BUDGET BUDGET
ACCOUNT ACCOUNT NAME YTD ACTUAL ADOPTED MONTH YTD CHANGE USED REMAINING
5580-03-OD ENGINEERING SERVICES 10,000 10,000 0.0% 10,000
SUNDRY $ $ $ 10,000 $ S $ 10,000 0.0% $ 10,000
5847-03-00 CONSTRUCTION 80,000 80,000 0.0% 80,UUU
CAPITAL $ $ - $ 80,000 $ $ $ 80,000 0.0% $ 80,000
$ $ $ 9o,000 $ $ $ 90,000 0.0% $ 90,1300
"EXEMPLIFYING EXCELLENCE"
CITY OF KENNEDALE,TEXAS
ANNUAL PROGRAM OF SERVICES
MONTHLY FINANCIALS
15:EDC48 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 DOWNIDLMOLITION 25,000
CHICKEN EXPRESS PARKING LOT MODIFICATION
50,000
TOTAL EXPENDITURES $ 90,000
"EXEMPLIFYING EXCELLENCE"
CITY OF KENNEDALE,TEXAS
ANNUAL PROGRAM OF SERVICES
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 $ $ $ $ $ $ 0A% $ -
5800-04-00 LAND 101,142 50,000 - (60,000) 0.055 50,040
CAPITAL $ - $ 101,192 $ 50,000 $ $ $ (60,000) 0.0% $ 50,000
$ - $ 101,192 $ 513,000 $ $ $ (60,000) 0.0% $ 50,000
"EXEMPLIFYING EXCELLENCE"
CITY OF KENNEDALE,TEXAS
ANNUAL PROGRAM OF SERVICES
MONTHLY FINANCIALS
15:EDC4B FUND
04:TEXAS LEVERAGE PROGRAM
FYIS-lb
PROPOSED
5800-00-00 LAND HOTELPROPERTY 50,000 50,ODD
TOTAL EXPENDITURES $ 50,000
"EXEMPLIFYING EXCELLENCE"
CITY OF KENNEDALE,TEXAS
ANNUAL PROGRAM OF SERVICES
MONTHLY FINANCIALS
19:EDC4B CAPITAL BOND FUND
FYI 4-15 FY14-15 FYI5-16 CURRENT FY15-16 CY-PY % BUDGET BUDGET
CATEGORY YTD ACTUAL ADOPTED MONTH YTD CHANGE USED REMAINING
BEGINNING FUND BALANCE $ 29,438 $ 29,429 $ 29,441 $ 29,468 $ 29,444
INVESTMENT FARNINGS 6 15 15 8 32 (5) 211,8% (17)
TOTAL REVENUES $ 6 $ 15 $ 15 $ 8 $ 32 $ (5) 211.8% $ (17)
CAPITAL - 25,000 - - - 0.01/. 25.000
TOTAL EXPENDITURES $ - $ - $ 25,000 $ - $ - $ - 0.0% $ 25,000
REVENUES OVER EXPENDITURES $ 6 $ 15 S (24,985) $ 8 $ 32
ENDING FUND BALANCE $ 29,444 $ 29,444 $ 4,456 $ 29,476 $ 29,476
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 $ 29,476 $ 29,476
"EXEMPLIFYING EXCELLENCE"
CITY OF KENNEDALE,TEXAS
ANNUAL PROGRAM OF SERVICES
MONTHLY FINANCIALS
19:EDC4B CAPITAL BOND FUND
FY14-15 FY14.15 FYIS-16 CURRENT FY15-16 CY-PY % BUDGET BUDGET
ACCOUNT ACCOUNT NAME YTD ACTUAL ADOPTED MONTH YTD CHANGE USED REMAINING
4401-00-00 INVESTMENT INCOME 6 15 15 8 32 (5) 211.8% (17)
INVESTMENT EARNINGS $ 6 $ 15 $ 15 $ 8 $ 32 $ (5) 211.8% $ (17)
TOTAL REVENUES $ 6 $ 15 $ 15 $ 8 $ 32 $ (5) 211.8% $ (17)
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
5847-01-00 CONSTRUCTION 2 5.000 - - 0,09. 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
MONTHLY FINANCIALS
19:EDC413 CAPITAL BOND FUND
FY15-lb
PROPOSED
4401-00-00 INVESTMENT INCOME EARNING BASED UPON AVERAGE 15 T5
BALANCE INTEREST RATES
TOTAL REVENUES $ 15
19: EDC413 CAPITAL BOND FUND
01:TOWN CENTER REDEVELOPMENT
FY15-lb
PROPOSER
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
MONTHLY FINANCIALS
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 $ 119,943 $ 119,922 $ 119,952 $ 120,022 $ 119,962
INVESTMENT EARNINGS 18 40 25 16 77 9 307.2% (52)
TOTAL REVENUES $ 18 $ 40 $ 25 $ 16 $ 77 $ 9 307.2% $ (52)
TOTAL EXPENDITURES $ - $ - $ - $ - $ - $ - 0.0% $ -
REVENUES OVER EXPENDITURES $ 18 $ 40 $ 25 $ 16 $ 77
ENDING FUND BALANCE $ 119,962 $ 119,962 $ 119,977 $ 120,038 $ 120,038
ADJUSTMENTS -
FUND BALANCE AS%OF EXP N/A N/A NIA NIA N/A
RESERVE($112,606 REQ0REMENT) $ 112,606 $ 112,606 $ 112,606 $ 112,606 $ 112,606
RESERVE SURPLUS/(SHORTFALL) $ 7,356 $ 7,356 $ 7,371 $ 7,432 $ 7,432
"EXEMPLIFYING EXCELLENCE"
CITY OF KENNEIDALE,TEXAS
ANNUAL PROGRAM OF SERVICES
MONTHLY FINANCIALS
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
4401-00-00 INVESTMFNT INCOMF 18 40 25 16 77 9 307.2% (52)
INVESTMENT EARNINGS $ 18 $ 40 $ 25 $ 16 $ 77 $ 9 307.2°% $ (52)
TOTAL REVENUES $ 18 $ 40 $ 25 $ 16 $ 77 $ 9 307.2% $ (52)
95:EDC4B RESERVE FUND
FY14-15 FY14-15 FYIS-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 MONTHLY FINANCIALS
FY15-16
PROPOSED
4401-00-00 INVESTMENT INCOME EARNING BASED UPON AVERAGE 25 25
BALANCE/INTEREST RATES
TOTAL REVENUES $ 25
FY15-16
PROPOSED
TOTAL EXPENDITURES $ -
"EXEMPLIFYING EXCELLENCE"
ic
KENNEDALE
Kennedale Economic
Development Corporation
www.cityofkennedale.com
STAFF REPORT TO THE BOARD OF DIRECTORS
Date: April 26, 2016
Agenda Item No: REGULAR ITEMS - B.
I. Subject:
Consider grant award to Watson Glass to assist with business expansion at 620 Tower Drive
II. Originated by:
III. Summary:
Watson Glass, as part of their expansion, plans to construct a new building at 620 Tower Drive. The
estimated 7000 sq. ft. building will cost approximatley $325,000. This includes a 6000 sq. ft.
production area and 1200 sq. ft. office area. Beyond the building construction, Watson Glass intends
to purchase another double miter saw, underpinner, and a glass hole drilling machine. They will add 2
new office employees and 6-10 more warehouse/installers.
In keeping with the prior formulas of funding approximately 20% of a project, not to exceed $25,000; it
is recommended the board establish a ceiling on this expansion and include the cost of the land
(approximately $5,400—for survey, title insurance, land costs, etc.), water meter relocation of$4,550,
minor plat ($2,000), and building permit (approximately $4000). A reasonable ceiling could be around
$16,000.
IV. Recommendation:
V. Alternative Actions:
VI. Attachments:
ic
KENNEDALE
Kennedale Economic
Development Corporation
www.cityofkennedale.com
STAFF REPORT TO THE BOARD OF DIRECTORS
Date: April 26, 2016
Agenda Item No: STAFF ANNOUNCEMENTS/REPORTS - A.
I. Subject:
Oak Crest Development
B. TownCenter
C. Goss International
D. Chamber Report
II. Originated by:
Bob Hart
III. Summary:
The Director will provide an update on these items.
• Oak Crest Development
• TownCenter
• Goss International
• 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: April 26, 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. 536 and 600 Bowman Springs Road
2. 1200 Block Bowman Springs Road
3. 6900 Block Kennedale Parkway
4. TownCenter Building Pad 5
5. Hospitality Project
II. Originated by:
Bob Hart
III. Summary:
These items will be discussed during the Executive Session.
• 536 and 600 Bowman Springs Road
• 1200 Block Bowman Springs Road
• 6900 Block Kennedale Parkway
• TownCenter Building Pad 5
• Hospitality Project
IV. Recommendation:
V. Alternative Actions:
VI. Attachments: