2016_06.28 EDC Packet )c
KENNEDALE
Kennedale Economic
Development Corporation
www.c i tyof lc enn ed a l e.c o m
ECONOMIC DEVELOPMENT CORPORATION
AGENDA
BOARD OF DIRECTORS - REGULAR MEETING
June 28, 2016
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 April 26, 2016 regular meeting
B. Consider approval of the minutes from the May 13, 2016 special meeting
IV. REGULAR ITEMS
A. Review and accept the KEDC Financial Report for April 2016
B. Review and accept the KEDC Financial Report for May 2016
C. Consider approval of the replacement of the air conditioner at Dollar General in TownCenter
D. Consider EDC grant for facade and sign improvements for Nancy's Liquor at 1302 Kennedale
Parkway
V. STAFF ANNOUNCEMENTS/REPORTS
A. Oak Crest Development
B. TownCenter
C. Village Creek
D. ICSC Meeting
F. Joint City Council Meeting
G. Chamber of Commerce 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
6. 1170 Kennedale Parkway
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 June 28, 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 S6cretary
405 Municipal Drive, Itennedale, TX 76060 1 Telephone: 81 7.985.2102 1 Fax: 817-478-7169
B
KENNEDALE
Kennedale Economic
Development Corporation
www.cityofkennedale.com
STAFF REPORT TO THE BOARD OF DIRECTORS
Date: June 28, 2016
Agenda Item No: MINUTES APPROVAL - A.
I. Subject:
Consider approval of the minutes from the April 26, 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 - April 26, 2016 -26-16. df
_JC
KENNEDALE
Kennedale Economic
Development www.ci yofi(enn Corporation rn ECONOMIC DEVELOPMENT CORPORATION
BOARD OF DIRECTORS - REGULAR MEETING
MINUTES
April 26, 2016
I. CALL TO ORDER
President Mundy called the meeting to order at 7:00 p.m.
II. ROLL CALL
Present: Michael Johnson, Adrienne Kay, Rebecca Mowell, Robert Mundy, Pat Turner, Ronald
Whitley, Mark Yeary
Absent: None
III. MINUTES APPROVAL
A. Consider approval of the minutes from the March 22, 2016 regular meeting
Motion To approve the March 22, 2016 Economic Development Corporation minutes.
Action Approve, Moved By Pat Turner, Seconded By Ronald Whitley.
Motion passed Unanimously
IV. REGULAR ITEMS
A. Review and accept the KEDC Financial Report for March 2016
Finance Director Krystal Crump provided a brief overview of the March 2016 Finance Report
for the Economic Development Corporation. She stated that sales tax revenue did very well for
the month of March, noting that overall revenues were up $20,000 from last year. Additionally,
she informed the Board that the electricity for building one at TownCenter was turned on in
order to show the property; the EDC funded $5,000 towards the Brickworks Festival;
and Red's Roadhouse was behind on their financial agreement for the month of March.
Motion To approve the March 2016 Finance Report for the Economic Development
Corporation. Action Approve, Moved By Rebecca Mowell, Seconded By Adrienne Kay.
Motion passed Unanimously
B. Consider grant award to Watson Glass to assist with business expansion at 620 Tower
Drive
Executive Director Bob Hart presented the proposed grant award for the expansion of Watson
Glass. He stated that the building expansion is an estimated 7000 sq. ft. facility costing
approximate $325,000, and will include the addition of another double miter saw, an
underpinner, and a glass hole drilling machine. The expansion will increase staff with 2 new
office employees and 6-10 more warehouse/installers.
Bob recommends the board establish a ceiling for the grant award on this expansion; keeping
within the prior formulas of approximately 20% of a project. There was discussion concerning
the cash outlay for the grant award. Bob stated that the estimated cost would include the land
(approximately $5,400 — for survey, title insurance, land costs, etc.), water meter relocation of
$4,550, minor plat of $2,000, and building permits for approximately $4000; it was noted that
most of cash outlay would stay internal. In conclusion, Bob thought a reasonable ceiling could
be $16,000.
Motion To approve a 380 Agreement with Watson Glass for a building expansion at 620
Tower Drive, in an amount not to exceed $16,000. Action Approve, Moved By Pat Turner,
Seconded By Mark Yeary.
Motion passed Unanimously
V. STAFF ANNOUNCEMENTS/REPORTS
A. Oak Crest Development
B. TownCenter
C. Goss International
D. Chamber Report
Executive Director Bob Hart provided an update on the Oak Crest Development. He stated
that we closed on the Bracken property and has a contract with the Richards family for the
land swap; he added that the contract should close within the next three weeks. Bob stated
that once we close on the land swap, the EDC will possess 100 percent of the land needed to
proceed with the development of Oak Crest. Continuing, Bob stated that McDonald's should
open in October; TxDot approved the permit for the required median; and we are still working
though issues with Link Street.
President Robert Mundy suggested that the EDC Board form a sub-committee to work on a
strategic plan for the Oak Crest Development. He appointed Becky Mowell as Chairperson,
along with Ron Whitley and Mike Johnson to serve on the Committee.
Director Hart provided updates on activities at TownCenter stating that they should break
ground on building 5 by the beginning of June. He added that Dollar General needs a new air
conditioner and they will pay for a new unit if the EDC will pay for the installation. This is a
good deal for the EDC. Additionally, he stated that Utopia Fitness is once again looking at
space in TownCenter; Save-a-Lot grocery requested a meeting to discuss the possibility of a
Kennedale location in TownCenter. Concluding, Bob informed the Board that Goss
International would be closing their facility, which employed 52 people. Jack Thompson is in
contact with them concerning the property.
Jack Thompson, Orasi Development, provided an update on Chamber activities stating that
the Clay Shoot netted $5400 and had 36 participates. He added that at the April luncheon
Commissioner Andy Nguyen will provide a State of the County update. Additional items of
interest included small business week activities, Chamber membership benefits, and upgrades
to the Chamber building.
VI. EXECUTIVE SESSION
President Mundy recessed into executive session at 7:55 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. 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
President Mundy reconvened into open session at 8:06 p.m.
No action was necessary pursuant to the Executive Session.
The April meeting is scheduled to be held on May 24, 2016.
VIII. ADJOURNMENT
Motion To adjourn the April 26, 2016 Economic Development Corporation meeting.
Action Adjourn, Moved By Michael Johnson, Seconded By Ronald Whitley.
Motion passed Unanimously
The meeting was adjourned at 8:11 p.m.
APPROVED: ATTEST:
President Robert Mundy Deputy City Secretary Kathy E. Moore
B
KENNEDALE
Kennedale Economic
Development Corporation
www.cityofkennedale.com
STAFF REPORT TO THE BOARD OF DIRECTORS
Date: June 28, 2016
Agenda Item No: MINUTES APPROVAL - B.
I. Subject:
Consider approval of the minutes from the May 13, 2016 special 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. Economic Development Corporation Special Meeting Minutes - May 13, 5-13-16 -
2016 iSpecial.pdf
_Jc
KENNEDALE
Kennedale Economic
Development www.ci yofi(enn Corporation rn ECONOMIC DEVELOPMENT CORPORATION
BOARD OF DIRECTORS - SPECIAL MEETING
MINUTES
May 13, 2016
12:00 PM
I. CALL TO ORDER
President Mundy called the meeting to order at 12:00 p.m.
II. ROLL CALL
Present: Ronald Whitley, Robert Mundy, Michael Johnson, Mark Yeary, Rebecca Mowell
Absent: Pat Turner, Adrienne Kay
III. REGULAR ITEMS
A. Approval of Resolution 6 of the Economic Development Corporation authorizing the
exchange of property
Director Bob Hart explained that the title company is requesting a Resolution authorizing the
land swap between the Economic Development Corporation, Douglas S. Richards, and
Reliable Consultants, Inc. for properties behind QT. He noted that we discussed this issue in
executive session in March.
Motion To approve Resolution 6 of the Economic Development Corporation authorizing the
exchange of property. Action Approve, Moved By Robert Mundy, Seconded By Ron Whitley.
Motion passed Unanimously
IV. ADJOURNMENT
Motion To adjourn. Action Adjourn, Moved By Robert Mundy, Seconded By Mark Yeary.
Motion passed Unanimously
The meeting was adjourned at 12:01 p.m.
APPROVED: ATTEST:
President Robert Mundy Deputy City Secretary Kathy E. Moore
B
KENNEDALE
Kennedale Economic
Development Corporation
www.cityofkennedale.com
STAFF REPORT TO THE BOARD OF DIRECTORS
Date: June 28, 2016
Agenda Item No: REGULAR ITEMS - A.
I. Subject:
Review and accept the KEDC Financial Report for April 2016
II. Originated by:
Finance Director, Director of Finance & IT
Bob Hart
III. Summary:
Finance Director, Krystal Crump will provide an overview of the April 2016 Kennedale Economic
Development Corporation Financial Report.
IV. Recommendation:
Approve
V. Alternative Actions:
VI. Attachments:
1. ril 2016 EDC Monthly Financials 016 04 Monthly Financials. df
CITY OF KENNEDALE, TEXAS
ANNUAL PROGRAM OF SERVICES
APRIL MONTHLY FINANCIALS
ECONOMIC DEVELOPMENT CORPORATION FINANCIALS SUMMARY
Budget Amendment
No amendments.
Monthly Information
Paid out $206,206 in debt payments causing cash to go negative
Sales Taxes are slightly exceeding budget expectations and prior year numbersto date.
Functional Grant line item-paying out salestaxes for H2O per 380 agreements.
Visual Grant line item- land purchase for REWatsor
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
ADD111ONAL I N FORM ATION
FUND 15-OPERATING FUND(ALLBILLSAND REVENUEFECBVED IN THIS FUND)
FUND 19-C RTALBOND FUND(FEMAININGC RTALMONEY)
FUND 95- PESB:?\/E FUND FOR DEBT FEW F EM ENT;
"YOU'RE HERE. YOU'RE HOME."
CITY OF KENNEDALE,TEXAS
ANNUAL PROGRAM OF SERVICES
APRIL MONTHLY FINANCIALS
EDC CASH POSITION
FY14-15 FY15-16 CURRENT FY15-16
CATEGORY ACTUAL PROPOSED MONTH YTD
BEGINNING CASH BALANCE-FUND 15 $ 177,198 $ 90,295 $ 167,639 $ 90,295
BEGINNING TEXPOOL BALANCE-FUND 15 $ 19 $ 19 $ 19 $ 19
BEGINNING TEXPOOL BALANCE-FUND 19 $ 29,429 $ 29,444 $ 29,476 $ 29,444
BEGINNING CASH BALANCE-FUND 95 $ 119,922 $ 119,962 $ 120,038 $ 119,962
TOTAL REVENUES $ 650,469 $ 912,036 $ 35,430 $ 259,670
TOTAL EXPENDITURES $ 694,022 $ 711,842 $ 247,598 $ 431,944
CHANGE IN CASH DURING PERIOD $ (86,848) $ 200,166 $ (213,727) $ (3,382)
ENDING CASH BALANCE-FUND 15 $ 90,295 $ 315,449 $ (46,114) $ 86,899
ENDING TEXPOOL BALANCE-FUND 15 $ 19 $ 19 $ 19 $ 19
ENDING TEXPOOL BALANCE-FUND 19 $ 29,444 $ 4,456 $ 29,484 $ 29,449
ENDING CASH BALANCE-FUND 95 $ 119,962 $ 119,962 $ 120,056 $ 119,970
"YOU'RE HERE.YOU'RE HOME."
CITY OF KENNEDALE,TEXAS
ANNUAL PROGRAM OF SERVICES
APRIL 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 $ 496,336 $ 376,091 $ 258,442 $ 372,432 $ 332,538
AD VALOREM TAXES 36,502 38,075 48,062 393 3,539 0 7.4% 44,523
SALES/BEVERAGE TAXES 139,833 457,222 350,000 26,666 153,472 15,209 43.8% 196,528
INVESTMENT EARNINGS 69 112 80 25 206 40 257.8% (126)
MISCELLANEOUS INCOME 34,736 57,546 384,120 348 22,133 - 5.8% 361,987
SURPLUS SALES/RENTALS 57,991 97,515 129,774 7,998 80,320 (4,918) 61.9% 49,454
TOTAL REVENUES $ 269,130 $ 650,469 $ 912,036 $ 35,430 $ 259,670 $ 10,331 28.57. $ 652,366
SUPPLIES - 4,625 3,100 - - - 0.0% 3,100
MAINTENANCE 18,211 39,375 23,592 3,890 11,157 47.3% 12,435
SUNDRY 102,920 204,628 210,258 18,764 101,647 (19,764) 48.3% 108,611
DEBT 151,739 169,796 166,374 90,247 148,483 (3,475) 89.2% 17,891
TRANSFERS 153,519 153,519 153,519 115,959 151,919 (0) 99.0% 1,600
CAPITAL 6,540 122,078 155,000 18,739 18,739 (887) 12.1% 136,261
TOTAL EXPENDITURES $ 432,929 $ 694,022 $ 711,842 $ 247,598 $ 431,944 $ (24,127) 60.7% $ 279,898
REVENUES OVER EXPENDITURES $(163,798) $ (43,553) $ 200,194 $(212,168) $(172,274)
ENDING FUND BALANCE $ 332,538 $ 332,538 $ 458,635 $ 160,264 $ 160,264
ADJUSTMENTS
FUND BALANCE AS%OF EXP 76.8% 47.9% 64.4% 64.7% 37.1%
RESERVE(NO REQUIREMENT) $ - $ - $ - $ - $ -
RESERVE SURPLUS/(SHORTFALL) $ 332,538 $ 332,538 $ 458,635 $ 160,264 $ 160,264
"YOU'RE HERE.YOU'RE HOME."
CITY OF KENNEDALE,TEXAS
ANNUAL PROGRAM OF SERVICES
APRIL 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 269,061 650,357 911,956 35,405 259,464 10,291 (2) 652,492
OPERATING EXPENDITURES (279,410) (540,503) (533,324) (131,639) (280,025) 24,126 0 (253,298)
OPERATING INCOME/(LOSS) (10,349) 109,854 378,633 (96,234) (20,561) 34,418 (1) 399,194
NONOPERATING REVENUES/(EXPENSES)
INTEREST EARNINGS 40 57 40 72 36 2 (32)
TRANSFERS IN - - - - - - -
(TRANSFEROUT) (153,519) (153,519) (153,519) (115,959) (151,919) 0 (1) (1,600)
NET OPERATING INCOME/(LOSS) (163,827) (43,608) 225,154 (212,194) (172,408) 34,454 (0) 397,561
BEGINNING FUND BALANCE $346,959 $226,740 $ 109,049 $222,918 $183,132
ENDING FUND BALANCE(EXCLUDING OTHER FUNDS) $183,132 $183,132 $ 334,203 $ 10,725 $ 10,725
95:EDC413 RESERVE FUND $ 119,938 $ 119,977 $ 119,977 $ 120,056 $ 120,056
19:EDC413 CAPITAL BOND FUND $ 54,449 $ 4,456 $ 4,456 $ 29,484 $ 29,484
ENDING FUND BALANCE(INCLUDING OTHER FUNDS) $357,519 $307,565 $ 458,635 $160,264 $160,264
"YOU'RE HERE.YOU'RE HOME."
CITY OF KENNEDALE,TEXAS
ANNUAL PROGRAM OF SERVICES
APRIL MONTHLY FINANCIALS
15:EDC411 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 $ 346,959 $ 226,740 $ 109,049 $ 222,918 $ 183,132
AD VALOREM TAXES 36,502 38,075 48,062 393 3,539 0 7.4% 44,523
SALES/BEVERAGE TAXES 139,833 457,222 350,000 26,666 153,472 15,209 43.8% 196,528
INVESTMENT EARNINGS 40 57 40 - 72 36 180.6% (32)
MISCELLANEOUS INCOME 34,736 57,546 384,120 348 22,133 - 5.8% 361,987
SURPLUS SALES/RENTALS 57,991 97,515 129,774 7,998 80,320 (4,918) 61.9% 49,454
TOTAL REVENUES $ 269,102 $ 650,414 $ 911,996 $ 35,405 $ 259,536 $ 10,327 28.5% $ 652,460
SUPPLIES - 4,625 3,100 - - - 0.0% 3,100
MAINTENANCE 18,211 39,375 23,592 3,890 11,157 47.3% 12,435
SUNDRY 102,920 204,628 210,258 18,764 101,647 (19,764) 48.3% 108,611
DEBT 151,739 169,796 166,374 90,247 148,483 (3,475) 89.2% 17,891
TRANSFERS 153,519 153,519 153,519 115,959 151,919 (0) 99.0% 1,600
CAPITAL 6,540 122,078 130,000 18,739 18,739 (887) 14.4% 111,261
TOTAL EXPENDITURES $ 432,929 $ 694,022 $ 686,842 $ 247,598 $ 431,944 $ (24,127) 62.97. $ 254,898
REVENUES OVER EXPENDITURES $(163,827) $ (43,608) $ 225,154 $(212,194) $(172,408)
ENDING FUND BALANCE $ 183,132 $ 183,132 $ 334,203 $ 10,725 $ 10,725
ADJUSTMENTS
FUND BALANCE AS%OF EXP 42.37. 26.47. 48.77. 4.37. 2.5%
RESERVE(NO REQUIREMENT) $ - $ - $ - $ - $ -
RESERVE SURPLUS/(SHORTFALL) $ 183,132 $ 183,132 $ 334,203 $ 10,725 $ 10,725
"YOU'RE HERE.YOU'RE HOME."
CITY OF KENNEDALE,TEXAS
ANNUAL PROGRAM OF SERVICES
APRIL 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 36,502 38,075 48,062 393 3,539 0 7.4% 44,523
AD VALOREM TAXES $ 36,502 $ 38,075 $ 48,062 $ 393 $ 3,539 $ 0 7.4% $ 44,523
4081-00-00 SALES TAX 139,833 457,222 350,000 26,666 153,472 15,209 43.8% 196,528
SALES/BEVERAGE TAXES $139,833 $457,222 $ 350,000 $ 26,666 $153,472 $ 15,209 43.8% $ 196,528
4401-00-00 INVESTMENT INCOME 40 57 40 - 72 36 180.6% (32)
INVESTMENT EARNINGS $ 40 $ 57 $ 40 $ - $ 72 $ 36 180.67. $ (32)
4409-00-00 MISCELLANEOUS INCOME 34,736 57,546 384,120 348 22,133 - 5.8% 361,987
MISCELLANEOUS INCOME $ 34,736 $ 57,546 $ 384,120 $ 348 $ 22,133 $ 5.87. $ 361,987
4805-00-00 RENTAL FEES-SHOPPING CENTER 57,845 97,271 121,274 7,936 79,761 (4,918) 65.8% 41,513
4806-00-00 RENTAL INSURANCE 146 244 8,500 62 559 6.6% 7,941
SURPLUS SALES/RENTALS $ 57,991 $ 97,515 $ 129,774 $ 7,998 $ 80,320 $ (4,918) 61.9% $ 49,454
TOTAL REVENUES $269,102 $650,414 $ 911,996 $ 35,405 $259,536 $ 10,327 28.5% $ 652,460
TOTAL REVENUES(EXCLUDING INTEREST/TRANSFERS) $269,061 $650,357 $ 911,956 $ 35,405 $259,464 $ 10,291
10%ADMIN CHARGE-GENERAL FUND 26,906 65,036 91,196 3,540 25,946 1,029
"YOU'RE HERE.YOU'RE HOME."
CITY OF KENNEDALE,TEXAS
ANNUAL PROGRAM OF SERVICES
APRIL MONTHLY FINANCIALS
15: EDC413 FUND
FY15-16
PROPOSED
4002-00-00 MMD TAX-CURRENT YEAR BASED ON FY13/14 ASSESSED VALUEOF 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
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 RATE:
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 REMAININC
MONTHLY FEE FROM CHAMBER FOR 24,000
SERVICES ($2000 MONTH)
MONTHLY FEE FROM CHAMBER PER 120
RENTALAGREEMENT($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
"YOU'RE HERE. YOU'RE HOME."
CITY OF KENNEDALE,TEXAS
ANNUAL PROGRAM OF SERVICES
APRIL 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
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 $ $ $ 0.076 $ 3,100
5403-01-00 BUILDING MAINTENANCE 1,368 - - 0.0% -
5440-01-00 OFFICE EQUIP/SOFTWARE MAINT - 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 2,000 2,000 2,000 2,000 100.0% -
5570-01-00 SPECIAL SERVICES 46,482 82,708 72,600 6,050 50,427 (15,000) 69.5% 22,173
5578-01-00 TRAVEL 70 70 100 - - 0.0% 100
5580-01-00 ENGINEERING SERVICES 9,135 17,038 1,000 7,150 7,150 (10,000) 715.0% (6,150)
5595-01-00 ADMIN CHARGE-GENERAL FUND 26,906 60,557 91,196 3,540 24,029 6,336 26.3% 67,167
SUNDRY $ 85,498 $ 177,187 $ 173,366 $ 16,740 $ 84,842 $ (27,364) 48.976 $ 88,524
5610-01-00 VISUAL GRANT - - - 4,843 4,843 0.0% (4,843)
5615-01-00 FUNCTIONAL GRANT - 39,097 - 10,283 (37,744) 0.0% (10,283)
DEBT $ - $ 39,097 $ $ 4,843 $ 15,126 $ (37,744) 0.07. $ (15,126)
5800-01-00 LAND 6,540 20,887 - - (20,887) 0.0%
CAPITAL $ 6,540 $ 20,887 $ $ - $ - $ (20,887) 0.0% $ -
TOTAL EXPENDITURES $ 93,407 $ 241,795 $ 176,466 $ 21,584 $ 99,967 $ (85,995) 56.6% $ 76,498
"YOU'RE HERE.YOU'RE HOME."
CITY OF KENNEDALE,TEXAS
ANNUAL PROGRAM OF SERVICES
APRIL 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/SMALLTOOLS<$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 BOARC
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,
FY15 16 2250
5570-01-00 SPECIAL SERVICES TOW N 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/BOARS
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 INTEREST RANSFERS
5615-01-00 FUNCTIONAL GRANT -
5701-01-00 TRANSFER OUT-GENERAL FUND
5800-01-00 LAND
TOTAL EXPENDITURES $ 176,466
"YOU'RE HERE. YOU'RE HOME."
CITY OF KENNEDALE,TEXAS
ANNUAL PROGRAM OF SERVICES
APRIL MONTHLY FINANCIALS
15:EDC413 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 65,625 65,625 62,203 31,101 62,135 (3,475) 99.9% 68
5644-01-03 2007$1.2M TAX BOND-PRINCIPAL 50,000 50,000 50,000 50,000 50,000 - 100.0% -
5645-01-03 2011 $1.7M TX LEVERAGE-INT 11,483 17,024 15,798 2,818 10,395 (1,226) 65.8% 5,404
5646-01-03 2011 $1.7M TX LEVERAGE-PRI 24,631 37,147 38,373 6,327 25,953 1,226 67.6% 12,420
DEBT $151,739 $169,796 $ 166,374 $ 90,247 $148,483 $ (3,475) 89.27o $ 17,891
5702-01-03 TRANSFER OUT-DEBT SERVICE FUND 153,519 153,519 153,519 115,959 151,919 (0) 99.0% 1,600
TRANSFER $153,519 $153,519 $ 153,519 $115,959 $151,919 $ (0) 99.07. $ 1,600
TOTAL EXPENDITURES $305,258 $323,315 $ 319,893 $206,206 $300,401 $ (3,475) 93.97. $ 19,491
"YOU'RE HERE.YOU'RE HOME."
CITY OF KENNEDALE,TEXAS
ANNUAL PROGRAM OF SERVICES
APRIL MONTHLY FINANCIALS
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
NOT CHARGE.
5643-01-03 2007$1.2M TAX BOND-INTEREST DUE 11/01 31,102 62,203
DU E 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 1 1/01 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
"YOU'RE HERE. YOU'RE HOME."
CITY OF KENNEDALE,TEXAS
ANNUAL PROGRAM OF SERVICES
APRIL MONTHLY FINANCIALS
15:EDC4B FUND
02:TOWN SHOPPING CENTER
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
5403-02-00 BUILDING MAINTENANCE 16,843 39,375 23,592 3,890 11,157 47.3% 12,435
MAINTENANCE $ 16,843 $ 39,375 $ 23,592 $ 3,890 $ 11,157 $ 47.37o $ 12,435
5530-02-00 ELECTRIC SERVICES 2,362 5,297 5,000 408 2,872 57.4% 2,128
5545-02-00 INSURANCE-PROPERTY 6,347 6,347 8,500 - 6,121 72.0% 2,379
5570-02-00 SPECIAL SERVICES 8,712 15,797 13,392 1,616 7,812 58.3% 5,580
SUNDRY $ 17,421 $ 27,441 $ 26,892 $ 2,024 $ 16,805 $ 62.5% $ 10,087
TOTAL EXPENDITURES $ 34,264 $ 66,816 $ 50,484 $ 5,913 $ 27,962 $ 55.47o $ 22,522
"YOU'RE HERE.YOU'RE HOME."
CITY OF KENNEDALE,TEXAS
ANNUAL PROGRAM OF SERVICES
APRIL 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
LAN DSCAPE/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 8,500 8,500
MUNICIPAL LEAGUE (CHICKEN
EXPRESS/DOLLAR GENERAL BUILDING
ON TML SCHEDULE, ALL OTHER
BUILDINGS CARRIED ON CYPRESS
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 FY 15/16 - FY 16/17
ANNUAL
MAR 2017-AUG 2018:SUBWAY$150 OR -
1800 FYI 7 18 ANNUAL
TOTAL EXPENDITURES $ 50,484
"YOU'RE HERE. YOU'RE HOME."
CITY OF KENNEDALE,TEXAS
ANNUAL PROGRAM OF SERVICES
APRIL MONTHLY FINANCIALS
15:EDC4B 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 0.0% $ 10,000
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
"YOU'RE HERE.YOU'RE HOME."
CITY OF KENNEDALE,TEXAS
ANNUAL PROGRAM OF SERVICES
APRIL 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 :,1 90,000
"YOU'RE HERE. YOU'RE HOME."
CITY OF KENNEDALE,TEXAS
ANNUAL PROGRAM OF SERVICES
APRIL MONTHLY FINANCIALS
15:EDC4B 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
5800-04-00 LAND 101,192 50,000 18,739 18,739 (60,000) 37.5% 31,261
CAPITAL $ $ 101,192 $ 50,000 $ 18,739 $ 18,739 $ (60,000) 37.57. $ 31,261
$ $ 101,192 $ 50,000 $ 18,739 $ 18,739 $ (60,000) 37.5% $ 31,261
"YOU'RE HERE.YOU'RE HOME."
CITY OF KENNEDALE, TEXAS
ANNUAL PROGRAM OF SERVICES
APRIL MONTHLY FINANCIALS
15: EDC4B FUND
04:TEXAS LEVERAGE PROGRAM
FY15-16
PROPOSED
5800-00-00 LAND HOTELPROPERTY 50,000 50,000
TOTAL EXPENDITURES $ 50,000
"YOU'RE HERE. YOU'RE HOME."
CITY OF KENNEDALE,TEXAS
ANNUAL PROGRAM OF SERVICES
APRIL 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 $ 29,437 $ 29,429 $ 29,441 $ 29,476 $ 29,444
INVESTMENT EARNINGS 7 15 15 8 40 (5) 266.5% (25)
TOTAL REVENUES $ 7 $ 15 $ 15 $ 8 $ 40 $ (5) 266.5% $ (25)
CAPITAL - - 25,000 - - - 0.0% 25,000
TOTAL EXPENDITURES $ - $ - $ 25,000 $ - $ - $ 0.0% $ 25,000
REVENUES OVER EXPENDITURES $ 7 $ 15 $ (24,985) $ 8 $ 40
ENDING FUND BALANCE $ 29,444 $ 29,444 $ 4,456 $ 29,484 $ 29,484
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 $ 29,484 $ 29,484
"YOU'RE HERE.YOU'RE HOME."
CITY OF KENNEDALE,TEXAS
ANNUAL PROGRAM OF SERVICES
APRIL MONTHLY FINANCIALS
19:EDC4B CAPITAL BOND 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 7 15 15 8 40 (5) 266.5% (25)
INVESTMENT EARNINGS $ 7 $ 15 $ 15 $ 8 $ 40 $ (5) 266.57o $ (25)
TOTAL REVENUES $ 7 $ 15 $ 15 $ 8 $ 40 $ (5) 266.57o $ (25)
19:EDC4B CAPITAL BOND FUND
01:TOWN CENTER REDEVELOPMENT
FY14-15 FY14-15 FY15-16 CURRENT FY15-16 CY-PY 76 OF BUDGET BUDGET
ACCOUNT ACCOUNT NAME YTD ACTUAL ADOPTED MONTH YTD CHANGE USED REMAINING
5847-01-00 CONSTRUCTION 25,000 0.0% 25,000
CAPITAL $ $ $ 25,000 $ $ $ 0.076 $ 25,000
TOTAL EXPENDITURES $ $ $ 25,000 $ $ $ 0.076 $ 25,000
"YOU'RE HERE.YOU'RE HOME."
CITY OF KENNEDALE, TEXAS
ANNUAL PROGRAM OF SERVICES
APRIL MONTHLY FINANCIALS
19: EDC4B CAPITAL BOND FUND
FY15-16
PROP
4401-00-00 INVESTMENT INCOME EARNING BASED UPON AVERAGE 15
BALANCE INTEREST RATE,'
TOTAL REVENUES
19: EDC4B CAPITAL BOND FUND
01:TOWN CENTER REDEVELOPMENT
FY15-16
PROPQUD-
5847-01-00 CONSTRUCTION WATER TANK IN TOWNCENTER 25,000 25,000
TOTAL EXPENDITURES $ 25,000
"YOU'RE HERE. YOU'RE HOME."
CITY OF KENNEDALE,TEXAS
ANNUAL PROGRAM OF SERVICES
APRIL 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 $ 119,940 $ 119,922 $ 119,952 $ 120,038 $ 119,962
INVESTMENT EARNINGS 22 40 25 17 94 9 376.2% (69)
TOTAL REVENUES $ 22 $ 40 $ 25 $ 17 $ 94 $ 9 376.27. $ (69)
TOTAL EXPENDITURES $ - $ - $ - $ - $ - $ 0.0% $
REVENUES OVER EXPENDITURES $ 22 $ 40 $ 25 $ 17 $ 94
ENDING FUND BALANCE $ 119,962 $ 119,962 $ 119,977 $ 120,056 $ 120,056
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 $ 7,450 $ 7,450
"YOU'RE HERE.YOU'RE HOME."
CITY OF KENNEDALE,TEXAS
ANNUAL PROGRAM OF SERVICES
APRIL 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 INVESTMENT INCOME 22 40 25 17 94 9 376.2% (69)
INVESTMENT EARNINGS $ 22 $ 40 $ 25 $ 17 $ 94 $ 9 376.276 $ (69)
TOTAL REVENUES $ 22 $ 40 $ 25 $ 17 $ 94 $ 9 376.2% $ (69)
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% $
"YOU'RE HERE.YOU'RE HOME."
CITY OF KENNEDALE, TEXAS
ANNUAL PROGRAM OF SERVICES
APRIL MONTHLY FINANCIALS
95: EDC413 RESERVE FUND
FY15-16
PROPOSED
4401-00-00 INVESTMENT INCOME EARNING BASED UPON AVERAGE 25
BALANCE INTEREST RATES
TOTAL REVENUES
FY15-16
PROPOSED
TOTAL EXPENDITURES
"YOU'RE HERE. YOU'RE HOME."
CITY OF KENNEDALE,TEXAS
ANNUAL PROGRAM OF SERVICES
APRIL MONTHLY FINANCIALS
TOTAL SALES TAX COLLECTIONS
SALES TAX-$0.020
2011-12 2012-13 2013-14 2013-14 2014-15 GAIN/ GAIN/ YTD 2015-16 2015-16 2015-16 GAIN/ GAIN/ YTD 2015-16
ACTUAL ACTUAL ACTUAL ACTUAL ACTUAL LOSS LOSS CUM BUDGET ACTUAL YTD LOSS LOSS CUM ESTIMATE
OCT 126,159 134,467 87,961 87,961 95,940 3,390 9.1% 9.1% 111,061 124,183 124,183 13,122 29.4% 29.4% 124,183
NOV 148,783 125,187 119,466 119,466 125,917 2,285 5.4% 7.0% 148,359 158,850 283,032 10,491 26.2% 124.8% 158,850
DEC 153,398 93,783 126,643 126,643 110,061 (20,748) -13.1% -0.6% 143,890 130,646 413,679 (13,243) 18.7% 275.9% 143,890
JAN 119,705 80,542 89,830 89,830 98,376 4,380 9.5% 1.5% 103,396 101,171 514,849 (2,225) 2.8% 423.3% 103,396
FEB 123,970 120,012 130,375 130,375 143,428 8,887 10.0% 3.5% 147,995 154,674 669,524 6,679 7.8% 366.8% 147,995
MAR 97,937 83,166 92,914 92,914 96,416 (664) 3.8% 3.5% 106,788 116,786 786,309 9,998 21.1% 715.5% 106,788
APR 148,919 81,274 105,648 105,648 108,258 (1,556) 2.5% 3.4% 120,796 106,021 892,331 (14,774) -2.1% 724.3% 120,796
MAY 164,922 128,081 125,276 125,276 159,133 29,691 27.0% 6.8% 142,387 142,387 1,034,717 - -10.5% 550.2% 142,387
JUN 97,474 84,545 103,328 103,328 171,284 63,790 65.8% 13.0% 118,243 118,243 1,152,960 - -31.0% 573.1% 118,243
JUL 163,318 89,739 95,903 95,903 221,008 120,939 130.4% 23.4% 110,076 110,076 1,263,036 - -50.2% 471.5% 110,076
AUG 106,717 111,892 115,463 115,463 195,063 75,434 68.9% 27.8% 131,591 131,591 1,394,628 - -32.5% 615.0% 131,591
SEP 110,449 104,100 95,940 90,637 236,929 136,823 147.0% 36.7% 110,117 110,117 1,504,745 - -53.5% 535.1% 110,117
1,561,751 1,236,788 1,288,748 1,283,445 1,761,812 422,650 1,494,697 1,504,745 10,047 1,518,310
8.41%, -20.81% 4.20% 3.77% 36.71% 11.61% -14.59%
18.30
GENERAL FUND SALES TAX
SALES TAX-$0.015
2011-12 2012-13 2013-14 2013-14 2014-15 GAIN/ GAIN/ YTD 2015-16 2015-16 2015-16 GAIN/ GAIN/ YTD 2015-16
ACTUAL ACTUAL ACTUAL ACTUAL ACTUAL LOSS LOSS CUM BUDGET ACTUAL YTD LOSS LOSS CUM ESTIMATE
OCT 94,619 100,850 65,971 65,971 71,955 2,542 9.1% 9.1% 83,295 93,137 93,137 9,842 29.4% 29.4% 93,137
NOV 111,587 93,890 89,600 89,600 94,438 1,714 5.4% 7.0% 111,269 119,137 212,274 7,868 262% 124.8% 119,137
DEC 115,048 70,338 94,982 94,982 82,545 (15,561) -13.1% -0.6% 107,917 97,985 310,259 (9,933) 18.7% 275.9% 107,917
JAN 89,778 60,406 67,373 67,373 73,782 3,285 9.5% 1.5% 77,547 75,878 386,137 (1,669) 2.8% 423.3% 77,547
FEB 92,977 90,009 97,781 97,781 107,571 6,665 10.0% 3.5% 110,996 116,006 502,143 5,009 7.8% 366.8% 110,996
MAR 73,453 62,374 69,685 69,685 72,312 (498) 3.8% 3.5% 80,091 87,589 589,732 7,499 21.1% 715.5% 80,091
APR 111,689 60,955 79,236 79,236 81,193 (1,167) 2.5% 3.4% 90,597 79,516 669,248 (11,081) -2.1% 724.3% 90,597
MAY 123,691 96,061 93,957 93,957 119,350 22,268 27.0% 6.8% 106,790 106,790 776,038 - -10.5% 550.2% 106,790
JUN 73,106 63,409 77,496 77,496 128,463 47,843 65.8% 13.0% 88,682 88,682 864,720 - -31.0% 573.1% 88,682
JUL 122,489 67,304 71,927 71,927 165,756 90,704 130.4% 23.4% 82,557 82,557 947,277 - -502% 471.5% 82,557
AUG 80,038 83,919 86,597 86,597 146,297 56,576 68.9% 27.8% 98,694 98,694 1,045,971 - -32.5% 615.0% 98,694
SEP 82,836 78,075 71,955 71,955 177,697 102,617 147.0% 36.7% 82,588 82,588 1,128,558 - -53.5% 535.1% 82,588
1,171,313 927,591 966,561 966,561 1,321,359 316,987 1,121,023 1,128,558 7,536 1,138,733
8.41%1 -20.81%1 4.20% 4.20%1 36.71%1 11.61% -14.59% 17.81
ECONOMIC DEVELOPMENT CORPORATION 4B
SALES TAX-$0.005
2011-12 2012-13 2013-14 2013-14 2014-15 GAIN/ GAIN/ YTD 2015-16 2015-16 2015-16 GAIN/ GAIN/ YTD 2015-16
ACTUAL ACTUAL ACTUAL ACTUAL ACTUAL LOSS LOSS CUM BUDGET ACTUAL YTD LOSS LOSS CUM ESTIMATE
OCT 31,540 33,617 21,990 21,990 23,985 847 9.1% 9.1% 27,765 31,046 31,046 3,281 29.4% 29.4% 31,046
NOV 37,196 31,297 29,867 29,867 31,479 571 5.4% 7.0% 37,090 39,712 70,758 2,623 26.2% 124.8% 39,712
DEC 38,349 23,446 31,661 31,661 27,515 (5,187) -13.1% -0.6% 35,972 32,662 103,420 (3,311) 18.7% 275.9% 35,972
JAN 29,926 20,135 22,458 22,458 24,594 1,095 9.5% 1.5% 25,849 25,293 128,712 (556) 2.8% 423.3% 25,849
FEB 30,992 30,003 32,594 32,594 35,857 2,222 10.0% 3.5% 36,999 38,669 167,381 1,670 7-8% 366.8% 36,999
MAR 24,484 20,791 23,228 23,228 24,104 (166) 3.8% 3.5% 26,697 29,196 196,577 2,500 21.1% 715.5% 26,697
APR 37,230 20,318 26,412 26,412 27,064 (389) 2.5% 3.4% 30,199 26,505 223,083 (3,694) -2.1% 724.3% 30,199
MAY 41,230 32,020 31,319 31,319 39,783 7,423 27.0% 6.8% 35,597 35,597 258,679 - -10.5% 550.2% 35,597
JUN 24,369 21,136 25,832 25,832 42,821 15,948 65.8% 13.0% 29,561 29,561 288,240 - -31.0% 573.1% 29,561
JUL 40,830 22,435 23,976 23,976 55,252 30,235 130.4% 23.4% 27,519 27,519 315,759 - -50.2% 471.5% 27,519
AUG 26,679 27,973 28,866 28,866 48,766 18,859 68.9% 27.8% 32,898 32,898 348,657 - -32-5% 615.0% 32,898
SEP 27,612 26,025 23,985 23,985 59,232 34,206 147.0% 36.7% 27,529 27,529 376,186 - -53.5% 535.1% 27,529
390,438 309,197 322,187 322,187 440,453 105,662 373,674 376,186 2,512 379,578
8.41%1 -20.81%1 4.20% 4.20%1 36.71%1 11.61% -14.59% 17.81
"YOU'RE HERE.YOU'RE HOME."
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B
KENNEDALE
Kennedale Economic
Development Corporation
www.cityofkennedale.com
STAFF REPORT TO THE BOARD OF DIRECTORS
Date: June 28, 2016
Agenda Item No: REGULAR ITEMS - B.
I. Subject:
Review and accept the KEDC Financial Report for May 2016
II. Originated by:
Finance Director, Director of Finance & IT
Bob Hart
III. Summary:
Finance Director, Krystal Crump will provide an overview of the April 2016 Kennedale Economic
Development Corporation Financial Report.
IV. Recommendation:
Approve
V. Alternative Actions:
VI. Attachments:
1. IMay 2016 EDC Financials 016 05 Monthly Financials. df
CITY OF KENNEDALE,TEXAS
ANNUAL PROGRAM OF SERVICES
MONTHLY FINANCIALS
ECONOMIC DEVELOPMENT CORPORATION FINANCIALS SUMMARY
Budget Amendment
No amendments.
Monthly Information
Interest and admin charge to General Fund hasnot been posted dueto technical difficulties tarrant county isexperiencing with
property tax reports.
Sales Taxes are about$SK under budget for the year so far.
Cash balances continue to stay negative in Fund 15
Current Budget Overages Budget Qarrent Overage
15-5510-04-OC ASSE00ATION DUEJPUBUCATIONS 4,020 5,086 1,066
15-5570-01-OC =AL-93WCES 72,600 76,189 3,589
15-5580-01-OC ENGINEEdNG 1,000 7,150 6,150
15-5610-01-OC VISJALGRANT - 4,843 4,843
15-5615-01-OC FUNCTIONALGRANT - 19,588 19,588
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
ADDI TI ONAL I N FORMATION
FUND 15-OPEPATI NG FUND(ALL BI LLSAND FEVENUE RECEIV®I N THIS FUND)
FUND 19-CAPITAL BOND FUND(FEMAI NI NG CAPITAL MONEY)
FUND 95-FESERV/E FUND FOR DEBT F QUIFEMBATS
"EXEMPLIFYING EXCELLENCE"
CITY OF KENNEDALE,TEXAS
ANNUAL PROGRAM OF SERVICES
MONTHLY FINANCIALS
EDC CASH POSITION
FY14-15 FY15-16 CURRENT FY15-16
CATEGORY ACTUAL PROPOSED MONTH YTD
BEGINNING CASH BALANCE-FUND 15 $ 177,198 $ 90,295 $ (46,114) $ 90,295
BEGINNING TEXPOOL BALANCE-FUND 15 $ 19 $ 19 $ 19 $ 19
BEGINNING TEXPOOL BALANCE-FUND 19 $ 29,429 $ 29,444 $ 29,484 $ 29,444
BEGINNING CASH BALANCE-FUND 95 $ 119,922 $ 119,962 $ 120,056 $ 119,962
TOTAL REVENUES $ 650,469 $ 912,036 $ 47,134 $ 306,804
TOTAL EXPENDITURES $ 694,022 $ 711,842 $ 31,129 $ 463,073
CHANGE IN CASH DURING PERIOD $ (86,848) $ 200,166 $ 6,700 $ (129,574)
ENDING CASH BALANCE-FUND 15 $ 90,295 $ 315,449 $ (39,413) $ (39,413)
ENDING TEXPOOL BALANCE-FUND 15 $ 19 $ 19 $ 19 $ 19
ENDING TEXPOOL BALANCE-FUND 19 $ 29,444 $ 4,456 $ 29,484 $ 29,484
ENDING CASH BALANCE-FUND 95 $ 119,962 $ 119,962 $ 120,056 $ 120,056
"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 %OF BUDGET BUDGET
CATEGORY YTD ACTUAL ADOPTED MONTH YTD CHANGE USED REMAINING
BEGINNING FUND BALANCE $ 486,908 $ 376,091 $ 258,442 $ 160,264 $ 332,538
AD VALOREM TAXES 36,895 38,075 48,062 - 3,539 0 7.4% 44,523
SALES/BEVERAGE TAXES 179,769 457,222 350,000 38,341 191,812 15,209 54.8% 158,188
INVESTMENT EARNINGS 76 112 80 - 206 40 257.8% (126)
MISCELLANEOUS INCOME 36,505 57,546 384,120 8,794 30,927 - 8.1% 353,193
SURPLUS SALES/RENTALS 67,656 97,515 129,774 - 80,320 (4,918) 61.9% 49,454
TOTAL REVENUES $ 320,901 $ 650,469 $ 912,036 $ 47,134 $ 306,804 $ 10,331 33.67. $ 605,232
SUPPLIES 4,505 4,625 3,100 - - - 0.0% 3,100
MAINTENANCE 19,581 39,375 23,592 - 11,157 47.3% 12,435
SUNDRY 120,525 204,628 210,258 31,129 132,775 (19,764) 63.1% 77,483
DEBT 156,254 169,796 166,374 - 148,483 (3,475) 89.2% 17,891
TRANSFERS 153,519 153,519 153,519 151,919 (0) 99.0% 1,600
CAPITAL 20,887 122,078 155,000 18,739 (887) 12.1% 136,261
TOTAL EXPENDITURES $ 475,271 $ 694,022 $ 711,842 $ 31,129 $ 463,073 $ (24,127) 65.1% $ 248,770
REVENUES OVER EXPENDITURES $(154,370) $ (43,553) $ 200,194 $ 16,006 $(156,268)
ENDING FUND BALANCE $ 332,538 $ 332,538 $ 458,635 $ 176,270 $ 176,270
ADJUSTMENTS
FUND BALANCE AS%OF EXP 70.0% 47.9% 64.4% 566.3% 38.1
RESERVE(NO REQUIREMENT) $ - $ - $ - $ - $ -
RESERVE SURPLUS/(SHORTFALL) $ 332,538 $ 332,538 $ 458,635 $ 176,270 $ 176,270
"EXEMPLIFYING EXCELLENCE"
CITY OF KENNEDALE,TEXAS
ANNUAL PROGRAM OF SERVICES
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 320,825 650,357 911,956 47,134 306,598 10,291 34% 605,358
OPERATING EXPENDITURES (321,752) (540,503) (533,324) (31,129) (311,154) 24,126 58% (222,170)
OPERATING INCOME/(LOSS) (927) 109,854 378,633 16,006 (4,556) 34,418 383,188
NONOPERATING REVENUES/(EXPENSES)
INTEREST EARNINGS 42 57 40 - 72 36 181% (32)
(TRANSFER OUT) (153,519) (153,519) (153,519) - (151,919) 0 99% (1,600)
NET OPERATING INCOME/(LOSS) (154,404) (43,608) 225,154 16,006 (156,402) 34,454 381,556
BEGINNING FUND BALANCE $337,536 $226,740 $ 109,049 $ 10,725 $183,132
ENDING FUND BALANCE(EXCLUDING OTHER FUNDS) $183,132 $183,132 $ 334,203 $ 26,730 $ 26,730
95:EDC413 RESERVE FUND $ 119,938 $ 119,977 $ 119,977 $ 120,056 $ 120,056
19:EDC413 CAPITAL BOND FUND $ 54,449 $ 4,456 $ 4,456 $ 29,484 $ 29,484
ENDING FUND BALANCE(INCLUDING OTHER FUNDS) $357,519 $307,565 $ 458,635 $176,270 $176,270
"EXEMPLIFYING EXCELLENCE"
CITY OF KENNEDALE,TEXAS
ANNUAL PROGRAM OF SERVICES
MONTHLY FINANCIALS
15:EDC411 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 $ 337,536 $ 226,740 $ 109,049 $ 10,725 $ 183,132
AD VALOREM TAXES 36,895 38,075 48,062 - 3,539 0 7.4% 44,523
SALES/BEVERAGE TAXES 179,769 457,222 350,000 38,341 191,812 15,209 54.8% 158,188
INVESTMENT EARNINGS 42 57 40 - 72 36 180.6% (32)
MISCELLANEOUS INCOME 36,505 57,546 384,120 8,794 30,927 - 8.1% 353,193
SURPLUS SALES/RENTALS 67,656 97,515 129,774 - 80,320 (4,918) 61.9% 49,454
TOTAL REVENUES $ 320,867 $ 650,414 $ 911,996 $ 47,134 $ 306,670 $ 10,327 33.6% $ 605,326
SUPPLIES 4,505 4,625 3,100 - - - 0.0% 3,100
MAINTENANCE 19,581 39,375 23,592 - 11,157 47.3% 12,435
SUNDRY 120,525 204,628 210,258 31,129 132,775 (19,764) 63.1% 77,483
DEBT 156,254 169,796 166,374 - 148,483 (3,475) 89.2% 17,891
TRANSFERS 153,519 153,519 153,519 151,919 (0) 99.0% 1,600
CAPITAL 20,887 122,078 130,000 18,739 (887) 14.4% 111,261
TOTAL EXPENDITURES $ 475,271 $ 694,022 $ 686,842 $ 31,129 $ 463,073 $ (24,127) 67.47. $ 223,770
REVENUES OVER EXPENDITURES $(154,404) $ (43,608) $ 225,154 $ 16,006 $(156,402)
ENDING FUND BALANCE $ 183,132 $ 183,132 $ 334,203 $ 26,730 $ 26,730
ADJUSTMENTS
FUND BALANCE AS%OF EXP 38.57. 26.47. 48.77. 85.9% 5.8%
RESERVE(NO REQUIREMENT) $ - $ - $ - $ - $ -
RESERVE SURPLUS/(SHORTFALL) $ 183,132 $ 183,132 $ 334,203 $ 26,730 $ 26,730
"EXEMPLIFYING EXCELLENCE"
CITY OF KENNEDALE,TEXAS
ANNUAL PROGRAM OF SERVICES
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 36,895 38,075 48,062 3,539 0 7.4% 44,523
AD VALOREM TAXES $ 36,895 $ 38,075 $ 48,062 $ $ 3,539 $ 0 7.4% $ 44,523
4081-00-00 SALES TAX 179,769 457,222 350,000 38,341 191,812 15,209 54.8% 158,188
SALES/BEVERAGE TAXES $179,769 $457,222 $ 350,000 $ 38,341 $191,812 $ 15,209 54.8% $ 158,188
4401-00-00 INVESTMENT INCOME 42 57 40 - 72 36 180.6% (32)
INVESTMENT EARNINGS $ 42 $ 57 $ 40 $ - $ 72 $ 36 180.67o $ (32)
4409-00-00 MISCELLANEOUS INCOME 36,505 57,546 384,120 8,794 30,927 - 8.1% 353,193
MISCELLANEOUS INCOME $ 36,505 $ 57,546 $ 384,120 $ 8,794 $ 30,927 $ 8.17. $ 353,193
4805-00-00 RENTAL FEES-SHOPPING CENTER 67,486 97,271 121,274 - 79,761 (4,918) 65.8% 41,513
4806-00-00 RENTAL INSURANCE 171 244 8,500 559 6.6% 7,941
SURPLUS SALES/RENTALS $ 67,656 $ 97,515 $ 129,774 $ $ 80,320 $ (4,918) 61.9% $ 49,454
TOTAL REVENUES $320,867 $650,414 $ 911,996 $ 47,134 $306,670 $ 10,327 33.6% $ 605,326
TOTAL REVENUES(EXCLUDING INTEREST/TRANSFERS) $320,825 $650,357 $ 911,956 $ 47,134 $306,598 $ 10,291
10%ADMIN CHARGE-GENERAL FUND 32,083 65,036 91,196 4,713 30,660 1,029
"EXEMPLIFYING EXCELLENCE"
CITY OF KENNEDALE,TEXAS
ANNUAL PROGRAM OF SERVICES
MONTHLY FINANCIALS
15: EDC413 FUND
FY15-16
PROPOSED
4002-00-00 MMD TAX-CURRENT YEAR BASED ON FY13/14 ASSESSED VALUEOF 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
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 RATE:
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 REMAININC
MONTHLY FEE FROM CHAMBER FOR 24,000
SERVICES ($2000 MONTH)
MONTHLY FEE FROM CHAMBER PER 120
RENTALAGREEMENT($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
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
5240-01-00 PRINTED SUPPLIES 4,505 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 $ 4,505 $ 4,625 $ 3,100 $ $ $ 0.076 $ 3,100
5403-01-00 BUILDING MAINTENANCE 1,368 - - 0.0% -
5440-01-00 OFFICE EQUIP/SOFTWARE MAINT - 0.0%
MAINTENANCE $ 1,368 $ $ $ $ $ 0.0% $
5501-01-00 ADVERTISING - 359 1,200 0.0% 1,200
5510-01-00 ASSOC DUES/PUBLICATIONS 4,655 4,755 4,020 3,850 5,086 126.5% (1,066)
5525-01-00 TRAINING/SEMINARS - - 250 - - 0.0% 250
5565-01-00 LEGAL SERVICES - 9,700 1,000 900 900 (8,700) 90.0% 100
5567-01-00 AUDIT SERVICES 2,000 2,000 2,000 - 2,000 100.0% -
5570-01-00 SPECIAL SERVICES 53,532 82,708 72,600 25,763 76,189 (15,000) 104.9% (3,589)
5578-01-00 TRAVEL 70 70 100 - - 0.0% 100
5580-01-00 ENGINEERING SERVICES 9,135 17,038 1,000 7,150 (10,000) 715.0% (6,150)
5595-01-00 ADMIN CHARGE-GENERAL FUND 32,083 60,557 91,196 24,029 6,336 26.3% 67,167
SUNDRY $ 101,475 $ 177,187 $ 173,366 $ 30,513 $ 115,354 $ (27,364) 66.576 $ 58,011
5610-01-00 VISUAL GRANT - - - - 4,843 0.0% (4,843)
5615-01-00 FUNCTIONAL GRANT 39,097 9,305 19,588 (37,744) 0.0% (19,588)
DEBT $ $ 39,097 $ $ 9,305 $ 24,431 $ (37,744) 0.0% $ (24,431)
5800-01-00 LAND 20,887 20,887 - - (20,887) 0.0%
CAPITAL $ 20,887 $ 20,887 $ $ - $ - $ (20,887) 0.07o $ -
TOTAL EXPENDITURES $ 128,235 $ 241,795 $ 176,466 $ 39,818 $ 139,785 $ (85,995) 79.2% $ 36,681
"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/SMALLTOOLS<$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 BOARC
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,
FY15 16 2250
5570-01-00 SPECIAL SERVICES TOW N 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/BOARS
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 INTEREST RANSFERS
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:EDC413 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 65,625 65,625 62,203 62,135 (3,475) 99.9% 68
5644-01-03 2007$1.2M TAX BOND-PRINCIPAL 50,000 50,000 50,000 50,000 - 100.0% -
5645-01-03 2011 $1.7M TX LEVERAGE-INT 12,881 17,024 15,798 10,395 (1,226) 65.8% 5,404
5646-01-03 2011 $1.7M TX LEVERAGE-PRI 27,747 37,147 38,373 25,953 1,226 67.6% 12,420
DEBT $156,254 $169,796 $ 166,374 $ $148,483 $ (3,475) 89.27o $ 17,891
5702-01-03 TRANSFER OUT-DEBT SERVICE FUND 153,519 153,519 153,519 151,919 (0) 99.0% 1,600
TRANSFER $153,519 $153,519 $ 153,519 $ $151,919 $ (0) 99.07. $ 1,600
TOTAL EXPENDITURES $309,773 $323,315 $ 319,893 $ $300,401 $ (3,475) 93.97. $ 19,491
"EXEMPLIFYING EXCELLENCE"
CITY OF KENNEDALE,TEXAS
ANNUAL PROGRAM OF SERVICES
MONTHLY FINANCIALS
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
NOT CHARGE.
5643-01-03 2007$1.2M TAX BOND-INTEREST DUE 11/01 31,102 62,203
DU E 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 1 1/01 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
MONTHLY FINANCIALS
15:EDC4B FUND
02:TOWN SHOPPING CENTER
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
5403-02-00 BUILDING MAINTENANCE 18,213 39,375 23,592 11,157 47.3% 12,435
MAINTENANCE $ 18,213 $ 39,375 $ 23,592 $ $ 11,157 $ 47.37o $ 12,435
5530-02-00 ELECTRIC SERVICES 2,675 5,297 5,000 2,872 57.4% 2,128
5545-02-00 INSURANCE-PROPERTY 6,347 6,347 8,500 6,121 72.0% 2,379
5570-02-00 SPECIAL SERVICES 10,028 15,797 13,392 616 8,428 62.9% 4,964
SUNDRY $ 19,051 $ 27,441 $ 26,892 $ 616 $ 17,421 $ 64.87. $ 9,471
TOTAL EXPENDITURES $ 37,264 $ 66,816 $ 50,484 $ 616 $ 28,578 $ 56.67o $ 21,906
"EXEMPLIFYING EXCELLENCE"
CITY OF KENNEDALE,TEXAS
ANNUAL PROGRAM OF SERVICES
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 8,500 8,500
MUNICIPAL LEAGUE (CHICKEN
EXPRESS/DOLLAR GENERAL BUILDING
ON TML SCHEDULE, ALL OTHER
BUILDINGS CARRIED ON CYPRESS
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 FY 15/16 - FY 16/17
ANNUAL
MAR 2017-AUG 2018:SUBWAY$150 OR -
1800 FY17 18 ANNUAL
TOTAL EXPENDITURES $ 50,484
"EXEMPLIFYING EXCELLENCE"
CITY OF KENNEDALE,TEXAS
ANNUAL PROGRAM OF SERVICES
MONTHLY FINANCIALS
15:EDC4B 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 0.0% $ 10,000
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
"EXEMPLIFYING EXCELLENCE"
CITY OF KENNEDALE,TEXAS
ANNUAL PROGRAM OF SERVICES
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 :,1 90,000
"EXEMPLIFYING EXCELLENCE"
CITY OF KENNEDALE,TEXAS
ANNUAL PROGRAM OF SERVICES
MONTHLY FINANCIALS
15:EDC4B FUND
04:TEXAS LEVERAGE PROGRAM
FY14-15 FY14-15 FY15-16 CURRENT FY15-16 CY- PY % 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 18,739 (60,000) 37.5% 31,261
CAPITAL $ $ 101,192 $ 50,000 $ $ 18,739 $ (60,000) 37.57. $ 31,261
$ $ 101,192 $ 50,000 $ $ 18,739 $ (60,000) 37.5% $ 31,261
"EXEMPLIFYING EXCELLENCE"
CITY OF KENNEDALE, TEXAS
ANNUAL PROGRAM OF SERVICES
MONTHLY FINANCIALS
15: EDC4B FUND
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
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 $ 29,436 $ 29,429 $ 29,441 $ 29,484 $ 29,444
INVESTMENT EARNINGS 8 15 15 - 40 (5) 266.5% (25)
TOTAL REVENUES $ 8 $ 15 $ 15 $ $ 40 $ (5) 266.5% $ (25)
CAPITAL - - 25,000 - - 0.0% 25,000
TOTAL EXPENDITURES $ - $ - $ 25,000 $ $ - $ 0.0% $ 25,000
REVENUES OVER EXPENDITURES $ 8 $ 15 $ (24,985) $ $ 40
ENDING FUND BALANCE $ 29,444 $ 29,444 $ 4,456 $ 29,484 $ 29,484
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 $ 29,484 $ 29,484
"EXEMPLIFYING EXCELLENCE"
CITY OF KENNEDALE,TEXAS
ANNUAL PROGRAM OF SERVICES
MONTHLY FINANCIALS
19:EDC4B CAPITAL BOND 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 8 15 15 40 (5) 266.5% (25)
INVESTMENT EARNINGS $ 8 $ 15 $ 15 $ $ 40 $ (5) 266.57o $ (25)
TOTAL REVENUES $ 8 $ 15 $ 15 $ $ 40 $ (5) 266.57o $ (25)
19:EDC4B CAPITAL BOND FUND
01:TOWN CENTER REDEVELOPMENT
FY14-15 FY14-15 FY15-16 CURRENT FY15-16 CY-PY 76 OF BUDGET BUDGET
ACCOUNT ACCOUNT NAME YTD ACTUAL ADOPTED MONTH YTD CHANGE USED REMAINING
5847-01-00 CONSTRUCTION 25,000 0.0% 25,000
CAPITAL $ $ $ 25,000 $ $ $ 0.076 $ 25,000
TOTAL EXPENDITURES $ $ $ 25,000 $ $ $ 0.076 $ 25,000
"EXEMPLIFYING EXCELLENCE"
CITY OF KENNEDALE, TEXAS
ANNUAL PROGRAM OF SERVICES
MONTHLY FINANCIALS
19: EDC4B CAPITAL BOND FUND
FY15-16
PROP
4401-00-00 INVESTMENT INCOME EARNING BASED UPON AVERAGE 15
BALANCE INTEREST RATE,'
TOTAL REVENUES
19: EDC4B CAPITAL BOND FUND
01:TOWN CENTER REDEVELOPMENT
FY15-16
PROPQUD-
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 $ 119,936 $ 119,922 $ 119,952 $ 120,056 $ 119,962
INVESTMENT EARNINGS 26 40 25 - 94 9 376.2% (69)
TOTAL REVENUES $ 26 $ 40 $ 25 $ $ 94 $ 9 376.27. $ (69)
TOTAL EXPENDITURES $ - $ - $ - $ $ - $ 0.0% $
REVENUES OVER EXPENDITURES $ 26 $ 40 $ 25 $ $ 94
ENDING FUND BALANCE $ 119,962 $ 119,962 $ 119,977 $ 120,056 $ 120,056
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 $ 7,450 $ 7,450
"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
ACCOUNT ACCOUNT NAME YTD ACTUAL ADOPTED MONTH YTD CHANGE USED REMAINING
4401-00-00 INVESTMENT INCOME 26 40 25 94 9 376.2% (69)
INVESTMENT EARNINGS $ 26 $ 40 $ 25 $ $ 94 $ 9 376.27o $ (69)
TOTAL REVENUES $ 26 $ 40 $ 25 $ $ 94 $ 9 376.2% $ (69)
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
TOTAL EXPENDITURES $ $ - $ - $ - $ - $ - 0.0% $
"EXEMPLIFYING EXCELLENCE"
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KENNEDALE
Kennedale Economic
Development Corporation
www.cityofkennedale.com
STAFF REPORT TO THE BOARD OF DIRECTORS
Date: June 28, 2016
Agenda Item No: REGULAR ITEMS - C.
I. Subject:
Consider approval of the replacement of the air conditioner at Dollar General in TownCenter
II. Originated by:
III. Summary:
The Dollar General's lease provides for a split responsibility for the maintenance and repair of the
HVAC units (Tenant covers the first $750.00 and Landlord is responsible for cost above $750.00). The
store has three units. One unit went out last year and the EDC paid approximately $12,000 for the
installation of a new unit. Dollar General has since offered to include the building in their HVAC
replacement program wherein Dollar General will pay purchase two units over two years with the EDC
being responsible for installation, estimated at$1500.
This has been placed on the agenda to ratify the EDC's participation in the replacement program.
IV. Recommendation:
V. Alternative Actions:
VI. Attachments:
B
KENNEDALE
Kennedale Economic
Development Corporation
www.cityofkennedale.com
STAFF REPORT TO THE BOARD OF DIRECTORS
Date: June 28, 2016
Agenda Item No: REGULAR ITEMS - D.
I. Subject:
Consider EDC grant for facade and sign improvements for Nancy's Liquor at 1302 Kennedale Parkway
II. Originated by:
III. Summary:
Given the redevelopment occurring at the north end of town, the owner of Nancy's Liquors would like
to remodel the exterior of his store. The estimated cost of the improvements is approximately $25,000.
He is interested in a EDC grant. I visited with him about building requirements and how an EDC grant
would work, i.e., a reimbursement of 25% of eligible costs, not to exceed $25,000. Or in his case
approximately $6,000. The Improvements are consistent with the zoning development codes. His sign
however, does not meet codes and he was told he needs to bring it into compliance. Several options
were discussed and I am waiting on costs estimates.
I am seeking guidance on working with him and your level of participation.
IV. Recommendation:
V. Alternative Actions:
VI. Attachments:
B
KENNEDALE
Kennedale Economic
Development Corporation
www.cityofkennedale.com
STAFF REPORT TO THE BOARD OF DIRECTORS
Date: June 28, 2016
Agenda Item No: STAFF ANNOUNCEMENTS/REPORTS - A.
I. Subject:
Oak Crest Development
B. TownCenter
C. Village Creek
D. ICSC Meeting
F. Joint City Council Meeting
G. Chamber of Commerce Report
II. Originated by:
Bob Hart
III. Summary:
The Director will provide an update on these items.
• Oak Crest Development
• TownCenter
• Village Creek
• ICSC Meeting
• Joint City Council Meeting
• Chamber of Commerce Report
IV. Recommendation:
None
V. Alternative Actions:
VI. Attachments:
B
KENNEDALE
Kennedale Economic
Development Corporation
www.cityofkennedale.com
STAFF REPORT TO THE BOARD OF DIRECTORS
Date: June 28, 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
6. 1170 Kennedale Parkway
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
• 1170 Kennedale Parkway
IV. Recommendation:
V. Alternative Actions:
VI. Attachments: