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2016_08.23 EDC Packet B KENNEDALE Kennedale Economic Development Corporation www.cityofkennedale.com ECONOMIC DEVELOPMENT CORPORATION AGENDA BOARD OF DIRECTORS - REGULAR MEETING August 23, 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 July 26, 2016 regular meeting IV. REGULAR ITEMS A. Review and accept the KEDC Financial Report for July 2016 B. Discuss and approve FY2016-17 proposed project list and budget for recommendation to City Council V. STAFF ANNOUNCEMENTS/REPORTS A. Oak Crest Development B. TownCenter C. Library- SCORE Program D. 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. Hospitality Project 2. 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 August 23, 2016, Kennedale Economic Development Corporation agenda was posted on the City Hall bulletin board next to the main entrance of the City Hall building, 405 Municipal Drive, of the City of Kennedale, Texas, in a place convenient and readily accessible to the general public at all times and said agenda was posted at least 72 hours preceding the schedule time of said meeting,in accordance with Chapter 551 of the Texas Government Code. Leslie Galloway, City 816cretary 405 Municipal Drive, Kennedale, TX 76060 1 Telephone: 817.985.2102 1 Fax: 817-478-7169 B KENNEDALE Kennedale Economic Development Corporation www.cityofkennedale.com STAFF REPORT TO THE BOARD OF DIRECTORS Date: August 23, 2016 Agenda Item No: MINUTES APPROVAL - A. I. Subject: Consider approval of the minutes from the July 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 - July 26, 2016 7-26-16. df _JC KENNEDALE Kennedale Economic Development www.ci yofi(enn Corporation rn ECONOMIC DEVELOPMENT CORPORATION BOARD OF DIRECTORS - REGULAR MEETING MINUTES July 26, 2016 I. CALL TO ORDER President Mundy called the meeting to order at 7:07 p.m. II. ROLL CALL Present: Michael Johnson, Rebecca Carlton, Robert Mundy, Pat Turner, Ronald Whitley Absent: Adrienne Kay, Mark Yeary III. MINUTES APPROVAL A. Consider approval of the minutes from the June 28, 2016 regular meeting Motion To approve the June 28, 2016 Economic Development Corporation meeting minutes. Action Approve, Moved By Michael Johnson, Seconded By Ronald Whitley. Motion passed Unanimously IV. REGULAR ITEMS A. Review and accept the KEDC Financial Report for June 2016 Executive Director Bob Hart provided an update for the June 2016 Economic Development Corporation Financial Report. He stated that Finance Director Krystal Crump is cleaning up the accounts. Sales tax revenues were higher than anticipated. Motion To approve the June 2016 Finance Report for the Economic Development Corporation. Action Approve, Moved By Rebecca Carlton, Seconded By Pat Turner. Motion passed Unanimously B. Public Hearing relative to the intention to participate in "Projects," as defined in the Development Corporation Act of 1979, as amended, Texas Revised Civil Statutes Annotated Article 5190.6, including, but not limited to, designing, acquiring, improving, and operating the following: 1. "TownCenter Project," Operations/Management/Marketing of a "mid-city" downtown district including but not limited to the commercial, medical, retail, entertainment, food truck park, farmers market, land acquisition and (New Urbanism style, typically higher density / multi- storied) residential growth of TownCenter Kennedale and its surrounding area; 2. "Redevelopment Project," The development of new and renovation of existing commercial / residential and municipal / KEDC projects designed to enhance Kennedale's lifestyle and quality of life; 3. "TownCenter Beautification Project," The further development / beautification / landscaping / upgrading of the TownCenter Kennedale area and its adjoining Plaza; 4. "Arts Project," The planning, implementation, and operation of City Festivals and Events; 5. "Sign Project," The construction of a new Kennedale Entranceway Monument Sign at a site TBD, and/or directional signs; 6. "Parkway Project," The creation & implementation of Kennedale Parkway, Village Creek, and 1-20 commercial and residential Urban Renewal / Development/Redevelopment / Revitalization / Access and Safety Studies / Economic Incentives / Beautification plans / Kennedale Parkway Landscape / Sidewalks and actual projects derived from these plans, including Consultation, Planning, Legal, and Engineering Services; 7. "Development Project," The Creation of a Tax Increment Reinvestment Zone (TIRZ) and Municipal Management District (MMD) including Consultation, Planning, Legal, and Engineering Services; 8. "Branding Project," A Kennedale Marketing and Implementation Plan aimed at City Branding and attracting new Kennedale projects and businesses; 9. "Grant Project," The continuation of the existing Revitalization Grant Program and funding for fagade, landscaping, and/or signage improvements; 10. "Industrial Expansion Project," Industrial expansion and recruitment program, including loans, fee waivers, incentive payments, driveway and access construction, street construction, and land leases; 11. "Industrial Recruitment Project," The recruitment of new and retention of existing Kennedale industrial businesses and development/redevelopment of industrial park(s), including but not limited to rail spurs, infrastructure, and office parks, etc.; 12. "Hotel Project," The attraction and development of a hotel, including land acquisition, site development, financing, land lease, studies, and ownership investment; 13. "Transit Project," The attraction and development of DFW Metroplex area commuter transit / light rail / mass transportation services, including land acquisition, the development of a Kennedale rail station and related improvements; 14. "Landbank Project," The purchase / leasing / sale or other means of transfer of real estate land and properties for the accomplishment of the above designated projects; 15. "Village Creek Project," The development of Village Creek Park, including land acquisition, recreation facility development, water quality enhancement features, and related flood control and water quality studies; 16. "Oak Crest Development," The land acquisition and site development for the Oak Crest area, including utility extension, street improvements, consultation, plans, legal and engineering services; 17. "Financing Project," The issuance, purchase, sale, or other means of transfer of Bonds and other debt instruments designed to fund the above objectives including, but not limited to implementing a Tax Increment Reinvestment Zone (TIRZ) District / Municipal Management District (MMD) /Texas Leverage Fund and mixed-use project(s) development/redevelopment; 18. "Staff Support Project," Contractual staff services; 19. "Hotel / Motel Tax Administration," Manage the administration of the collection and expenditure of the hotel/motel occupancy tax in accordance with chapter 351 of the Texas Tax Code; 20. "Administrative Project," All necessary services and related expenses for the above projects including but not limited to project master-planning; engineering; alternate energy sources; project advertising / marketing; related consultant and legal services; new construction / remodeling / maintenance of landscaping, roadways, City / KEDC owned or leased buildings, and their related improvements. President Robert Mundy opened the public hearing. Executive Director Bob Hart provided an overview of the project list. No one signed up to speak and the public hearing was closed. V. STAFF ANNOUNCEMENTS/REPORTS A. Oak Crest Development B. TownCenter C. Library - SCORE Program D. Chamber of Commerce Report Executive Director Bob Hart stated that Oak Crest Development would be discussed during executive session. He continued with a TownCenter report stating that a groundbreaking ceremony will be held August 5, 2016 at 10:00 am. He advised the Board that the Chamber will be taking photos, and that there will be coffee and donuts at 9:00 am. Bob added that he would have more information concerning the Service Corp of Retired Executives (SCORE) program next meeting. Jack Thompson, Orasi Development, provided an update on Chamber activities, noting the TownCenter groundbreaking ceremony. Jack continued with the Chamber report stating that the Chamber's selling "Back the Badge" signs have been very successful. Additionally, he reported on a mega Business After Hour's event being sponsored by the Mansfield Country Club. The event is scheduled for September 13, 2016, and has Chamber of Commerce from seven cities participating: Kennedale, Mansfield, Alvarado, Joshua, Crowley, Burleson, and Midlothian. Additional items of interest included the Chamber's coffee chat networking event, the August lunch and learn, and membership dues. VI. EXECUTIVE SESSION President Mundy recessed into executive session at 7:34 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 6. 1170 Kennedale Parkway 7. Oak Crest Development Related Properties 8. Lease of 6828 Oak Crest Drive W. VII. RECONVENE INTO OPEN SESSION, AND TAKE ACTION NECESSARY PURSUANT TO EXECUTIVE SESSION, IF NEEDED President Mundy reconvened into open session at 8:34 p.m. There was action concerning the extension and rent increase for the lease on Red's Roadhouse. Motion To extend the lease for one additional year and increase the monthly payments to $1750. Action Approve, Moved By Rebecca Carlton, Seconded By Michael Johnson. Motion passed Unanimously The August meeting is scheduled to be held on August 23, 2016. VIII. ADJOURNMENT Motion To adjourn. Action Adjourn, Moved By Pat Turner, Seconded By Ronald Whitley. Motion passed Unanimously The meeting was adjourned at 8:41 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: August 23, 2016 Agenda Item No: REGULAR ITEMS - A. I. Subject: Review and accept the KEDC Financial Report for July 2016 II. Originated by: Finance Director, Director of Finance & IT Bob Hart III. Summary: Finance Director, Krystal Crump will provide an overview of the June 2016 Kennedale Economic Development Corporation Financial Report. IV. Recommendation: Approve V. Alternative Actions: VI. Attachments: Fl---TJ—uly 2016 EDC Financials 016_07 Monthly Financials. df CITY OF KENNEDALE, TEXAS ANNUAL PROGRAM OF SERVICES MONTHLY FINANCIALS ECONOMIC DEVELOPMENT CORPORATION FINANCIALS SUMMARY Budget Amendment No amendments. Monthly Information No out of the ordinary expenditures. 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 ADDITIONAL INFORMATION FUND 15-OPERATING FUND (ALL BILLS AND REVENUE RECEIVED IN THIS FUND) FUND 19-CAPITAL BOND FUND (REMAINING CAPITAL MONEY) FUND 95- RESERVE FUND FOR DEBT REQUIREMENTS "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 $ (92,769) $ 90,295 BEGINNING TEXPOOL BALANCE-FUND 15 $ 19 $ 19 $ 19 $ 19 BEGINNING TEXPOOL BALANCE-FUND 19 $ 29,429 $ 29,444 $ 29,501 $ 29,444 BEGINNING CASH BALANCE-FUND 95 $ 119,922 $ 119,962 $ 120,082 $ 119,962 TOTAL REVENUES $ 650,469 $ 912,036 $ 58,214 $ 432,028 TOTAL EXPENDITURES $ 694,022 $ 711,842 $ 22,343 $ 560,026 CHANGE IN CASH DURING PERIOD $ (86,848) $ 200,166 $ 28,717 $ (154,170) ENDING CASH BALANCE-FUND 15 $ 90,295 $ 315,449 $ (63,992) $ (63,992) ENDING TEXPOOL BALANCE-FUND 15 $ 19 $ 19 $ - $ - ENDING TEXPOOL BALANCE-FUND 19 $ 29,444 $ 4,456 $ 29,444 $ 29,444 ENDING CASH BALANCE-FUND 95 $ 119,962 $ 119,962 $ 120,097 $ 120,097 "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 $ 397,739 $ 376,091 $ 258,442 $ 168,670 $ 332,538 AD VALOREM TAXES 38,075 38,075 48,062 20,514 34,335 0 71.4% 13,727 SALES/BEVERAGE TAXES 278,151 457,222 350,000 28,357 248,234 15,209 70.9% 101,766 INVESTMENT EARNINGS 93 112 80 25 275 40 343.3% (195) MISCELLANEOUS INCOME 42,539 57,546 384,120 1,320 35,581 - 9.3% 348,539 SURPLUS SALES/RENTALS 96,652 97,515 129,774 7,999 113,604 (4,918) 87.5% 16,170 TOTAL REVENUES $ 455,510 $ 650,469 $ 912,036 $ 58,214 $ 432,028 $ 10,331 47.47. $ 480,008 SUPPLIES 4,505 4,625 3,100 - 5,110 - 164.8% (2,010) MAINTENANCE 25,928 39,375 23,592 2,936 18,097 76.7% 5,495 SUNDRY 150,591 204,628 210,258 14,834 207,260 (19,764) 98.6% 2,998 DEBT 165,282 169,796 166,374 4,573 157,628 (3,475) 94.7% 8,746 TRANSFERS 153,519 153,519 153,519 - 151,919 (0) 99.0% 1,600 CAPITAL 20,887 122,078 155,000 - 20,012 (887) 12.9% 134,988 TOTAL EXPENDITURES $ 520,711 $ 694,022 $ 711,842 $ 22,343 $ 560,026 $ (24,127) 78.7% $ 151,817 REVENUES OVER EXPENDITURES $ (65,201) $ (43,553) $ 200,194 $ 35,871 $(127,997) ENDING FUND BALANCE $ 332,538 $ 332,538 $ 458,635 $ 204,541 $ 204,541 ADJUSTMENTS FUND BALANCE AS%OF EXP 63.9% 47.9% 64.4% 915.4% 36.5% RESERVE(NO REQUIREMENT) $ - $ - $ - $ - $ - RESERVE SURPLUS/(SHORTFALL) $ 332,538 $ 332,538 $ 458,635 $ 204,541 $ 204,541 "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 455,417 650,357 911,956 58,189 431,754 10,291 (1) 480,203 OPERATING EXPENDITURES (367,192) (540,503) (533,324) (22,343) (408,107) 24,126 0 (125,217) OPERATING INCOME/(LOSS) 88,225 109,854 378,633 35,846 23,647 34,418 (1) 354,986 NONOPERATING REVENUES/(EXPENSES) INTEREST EARNINGS 49 57 40 - 72 36 2 (32) TRANSFERS IN - - - - - - - (TRANSFEROUT) (153,519) (153,519) (153,519) - (151,919) 0 (1) (1,600) NET OPERATING INCOME/(LOSS) (65,245) (43,608) 225,154 35,846 (128,200) 34,454 (0) 353,353 BEGINNING FUND BALANCE $248,377 $226,740 $ 109,049 $ 19,087 $183,132 ENDING FUND BALANCE(EXCLUDING OTHER FUNDS) $183,132 $183,132 $ 334,203 $ 54,933 $ 54,933 95:EDC413 RESERVE FUND $ 119,938 $ 119,977 $ 119,977 $ 120,097 $ 120,097 19:EDC413 CAPITAL BOND FUND $ 54,449 $ 4,456 $ 4,456 $ 29,511 $ 29,511 ENDING FUND BALANCE(INCLUDING OTHER FUNDS) $357,519 $307,565 $ 458,635 $204,541 $204,541 "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 $ 248,377 $ 226,740 $ 109,049 $ 19,087 $ 183,132 AD VALOREM TAXES 38,075 38,075 48,062 20,514 34,335 0 71.4% 13,727 SALES/BEVERAGE TAXES 278,151 457,222 350,000 28,357 248,234 15,209 70.9% 101,766 INVESTMENT EARNINGS 49 57 40 - 72 36 180.6% (32) MISCELLANEOUS INCOME 42,539 57,546 384,120 1,320 35,581 - 9.3% 348,539 SURPLUS SALES/RENTALS 96,652 97,515 129,774 7,999 113,604 (4,918) 87.5% 16,170 TOTAL REVENUES $ 455,466 $ 650,414 $ 911,996 $ 58,189 $ 431,826 $ 10,327 47.3% $ 480,170 SUPPLIES 4,505 4,625 3,100 - 5,110 - 164.8% (2,010) MAINTENANCE 25,928 39,375 23,592 2,936 18,097 76.7% 5,495 SUNDRY 150,591 204,628 210,258 14,834 207,260 (19,764) 98.6% 2,998 DEBT 165,282 169,796 166,374 4,573 157,628 (3,475) 94.7% 8,746 TRANSFERS 153,519 153,519 153,519 - 151,919 (0) 99.0% 1,600 CAPITAL 20,887 122,078 130,000 - 20,012 (887) 15.4% 109,988 TOTAL EXPENDITURES $ 520,711 $ 694,022 $ 686,842 $ 22,343 $ 560,026 $ (24,127) 81.57. $ 126,817 REVENUES OVER EXPENDITURES $ (65,245) $ (43,608) $ 225,154 $ 35,846 $(128,200) ENDING FUND BALANCE $ 183,132 $ 183,132 $ 334,203 $ 54,933 $ 54,933 ADJUSTMENTS FUND BALANCE AS%OF EXP 35.27. 26.47. 48.7% 245.9% 9.8% RESERVE(NO REQUIREMENT) $ - $ - $ - $ - $ - RESERVE SURPLUS/(SHORTFALL) $ 183,132 $ 183,132 $ 334,203 $ 54,933 $ 54,933 "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 38,075 38,075 48,062 20,514 34,335 0 71.4% 13,727 AD VALOREM TAXES $ 38,075 $ 38,075 $ 48,062 $ 20,514 $ 34,335 $ 0 71.4% $ 13,727 4081-00-00 SALES TAX 278,151 457,222 350,000 28,357 248,234 15,209 70.9% 101,766 SALES/BEVERAGE TAXES $278,151 $457,222 $ 350,000 $ 28,357 $248,234 $ 15,209 70.9% $ 101,766 4401-00-00 INVESTMENT INCOME 49 57 40 - 72 36 180.6% (32) INVESTMENT EARNINGS $ 49 $ 57 $ 40 $ - $ 72 $ 36 180.67. $ (32) 4409-00-00 MISCELLANEOUS INCOME 42,539 57,546 384,120 1,320 35,581 - 9.3% 348,539 MISCELLANEOUS INCOME $ 42,539 $ 57,546 $ 384,120 $ 1,320 $ 35,581 $ 9.37. $ 348,539 4805-00-00 RENTAL FEES-SHOPPING CENTER 96,408 97,271 121,274 7,938 111,512 (4,918) 92.0% 9,762 4806-00-00 RENTAL INSURANCE 244 244 8,500 60 2,092 24.6% 6,408 SURPLUS SALES/RENTALS $ 96,652 $ 97,515 $ 129,774 $ 7,999 $113,604 $ (4,918) 87.5% $ 16,170 TOTAL REVENUES $455,466 $650,414 $ 911,996 $ 58,189 $431,826 $ 10,327 47.37. $ 480,170 TOTAL REVENUES(EXCLUDING INTEREST/TRANSFERS) $455,417 $650,357 $ 911,956 $ 58,189 $431,754 $ 10,291 10%ADMIN CHARGE-GENERAL FUND 45,542 65,036 91,196 5,819 43,175 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 5,110 170.3% (2,110) 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 $ $ 5,110 $ 170.37. $ (2,010) 5501-01-00 ADVERTISING - 359 1,200 231 231 19.2% 969 5510-01-00 ASSOC DUES/PUBLICATIONS 4,755 4,755 4,020 270 5,356 133.2% (1,336) 5525-01-00 TRAINING/SEMINARS - - 250 - - 0.0% 250 5565-01-00 LEGAL SERVICES - 9,700 1,000 1,500 4,712 (8,700) 471.2% (3,712) 5567-01-00 AUDIT SERVICES 2,000 2,000 2,000 - 2,000 100.0% 5570-01-00 SPECIAL SERVICES 65,742 82,708 72,600 5,417 78,558 (15,000) 108.2% (5,958) 5578-01-00 TRAVEL 70 70 100 - - 0.0% 100 5580-01-00 ENGINEERING SERVICES 9,135 17,038 1,000 - 53,610 (10,000) 5361.0% (52,610) 5595-01-00 ADMIN CHARGE-GENERAL FUND 45,342 60,557 91,196 5,821 41,260 6,336 45.2% 49,936 SUNDRY $ 127,044 $ 177,187 $ 173,366 $ 13,238 $ 185,726 $ (27,364) 107.17. $ (12,361) 5610-01-00 VISUAL GRANT - - - - 4,843 0.0% (4,843) 5615-01-00 FUNCTIONAL GRANT 12,744 39,097 1,152 48,047 (37,744) 0.0% (48,047) DEBT $ 12,744 $ 39,097 $ $ 1,152 $ 52,890 $ (37,744) 0.07. $ (52,890) 5800-01-00 LAND 20,887 20,887 - 1,274 (20,887) 0.0% (1,274) CAPITAL $ 20,887 $ 20,887 $ $ - $ 1,274 $ (20,887) 0.0% $ (1,274) TOTAL EXPENDITURES $ 165,179 $ 241,795 $ 176,466 $ 14,390 $ 245,000 $ (85,995) 138.87. $ (68,534) "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 15,651 17,024 15,798 1,395 13,185 (1,226) 83.5% 2,613 5646-01-03 2011 $1.7M TX LEVERAGE-PRI 34,005 37,147 38,373 3,177 32,308 1,226 84.2% 6,065 DEBT $165,282 $169,796 $ 166,374 $ 4,573 $157,628 $ (3,475) 94.77o $ 8,746 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 $318,801 $323,315 $ 319,893 $ 4,573 $309,547 $ (3,475) 96.87. $ 10,346 "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 25,928 39,375 23,592 2,936 18,097 76.7% 5,495 MAINTENANCE $ 25,928 $ 39,375 $ 23,592 $ 2,936 $ 18,097 $ 76.77o $ 5,495 5530-02-00 ELECTRIC SERVICES 4,040 5,297 5,000 480 4,253 85.1% 747 5545-02-00 INSURANCE-PROPERTY 6,347 6,347 8,500 - 6,121 72.0% 2,379 5570-02-00 SPECIAL SERVICES 13,160 15,797 13,392 1,116 11,160 83.3% 2,232 SUNDRY $ 23,547 $ 27,441 $ 26,892 $ 1,596 $ 21,534 $ 80.1% $ 5,358 TOTAL EXPENDITURES $ 49,475 $ 66,816 $ 50,484 $ 4,533 $ 39,630 $ 78.57o $ 10,854 "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 OF BUDGET BUDGET ACCOUNT ACCOUNT NAME YTD ACTUAL ADOPTED MONTH YTD CHANGE USED REMAINING 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 $ 29,433 $ 29,429 $ 29,441 $ 29,501 $ 29,444 INVESTMENT EARNINGS 11 15 15 9 67 (5) 443.3% (52) TOTAL REVENUES $ 11 $ 15 $ 15 $ 9 $ 67 $ (5) 443.3% $ (52) CAPITAL - - 25,000 - - 0.0% 25,000 TOTAL EXPENDITURES $ - $ - $ 25,000 $ $ - $ 0.0% $ 25,000 REVENUES OVER EXPENDITURES $ 11 $ 15 $ (24,985) $ 9 $ 67 ENDING FUND BALANCE $ 29,444 $ 29,444 $ 4,456 $ 29,511 $ 29,511 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 $ 29,511 $ 29,511 "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 11 15 15 9 67 (5) 443.3% (52) INVESTMENT EARNINGS $ 11 $ 15 $ 15 $ 9 $ 67 $ (5) 443.37o $ (52) TOTAL REVENUES $ 11 $ 15 $ 15 $ 9 $ 67 $ (5) 443.37o $ (52) 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 $ 119,929 $ 119,922 $ 119,952 $ 120,082 $ 119,962 INVESTMENT EARNINGS 32 40 25 16 136 9 543.6% (111) TOTAL REVENUES $ 32 $ 40 $ 25 $ 16 $ 136 $ 9 543.67. $ (111) TOTAL EXPENDITURES $ - $ - $ - $ - $ - $ 0.0% $ REVENUES OVER EXPENDITURES $ 32 $ 40 $ 25 $ 16 $ 136 ENDING FUND BALANCE $ 119,962 $ 119,962 $ 119,977 $ 120,097 $ 120,097 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 $ 7,491 $ 7,491 "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 % BUDGET BUDGET ACCOUNT ACCOUNT NAME YTD ACTUAL ADOPTED MONTH YTD CHANGE USED REMAINING 4401-00-00 INVESTMENT INCOME 32 40 25 16 136 9 543.6% (111) INVESTMENT EARNINGS $ 32 $ 40 $ 25 $ 16 $ 136 $ 9 543.676 $ (111) TOTAL REVENUES $ 32 $ 40 $ 25 $ 16 $ 136 $ 9 543.676 $ (111) 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 $ $ $ $ $ $ 0.07o $ TOTAL EXPENDITURES $ $ $ $ $ $ 0.07o $ "EXEMPLIFYING EXCELLENCE" CITY OF KENNEDALE, TEXAS ANNUAL PROGRAM OF SERVICES 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 "EXEMPLIFYING EXCELLENCE" IL w Q J W Z W � A� W QC N L J Q h � � C IL U O Q Q a O N L6 O = N U } c O J E m Q UJ if U- 0 H ` Q Ln / r (D Z r V N O a U O w U Q W Q U > a O Z M O N U O 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 U� o U� o U� o U� o LO o LO 10 10 LO LO "Zi- Nt (`7 (") N N b} y} b} y} b} b} b} y} b} y} �} B KENNEDALE Kennedale Economic Development Corporation www.cityofkennedale.com STAFF REPORT TO THE BOARD OF DIRECTORS Date: August 23, 2016 Agenda Item No: REGULAR ITEMS - B. I. Subject: Discuss and approve FY2016-17 proposed project list and budget for recommendation to City Council II. Originated by: Finance Director, Director of Finance & IT III. Summary: On July 26, 2016, the Kennedale Economic Development Board held a public hearing to receive input regarding the expenditure of funds for KEDC Projects, which will require expenditure of funds collected from the 4B sales tax for Fiscal Year 2016/17. No comments were received by staff. In order for the Council to approve and adopt the City's FY2016/17 Budget (KEDC budget/projects included) and tax rate, at their regular meeting scheduled on September 19, 2016, the KEDC must make a recommendation to Council given its review of the aforementioned items. IV. Recommendation: Approve V. Alternative Actions: VI. Attachments: 1. 2016-2017 PROPOSED BUDGET JEDC Bud et. df P. 2016-17 EDC Project List 016-17 Project List.docx C I T Y O F K E N N E D A L E , T E X A S A N N U A L PROGRAM OF SERVICES COMBINEDEDC4B FUNDS SUMMARY FY14-15 FY15-16 FY15-16 FY15-16 FY15-16 FY16-17 CY-PY CATEGORY ACTUAL ADOPTED AMENDED YTDMAY ESTIMATE PROPOSED CHANGE BEGINNING FUND BALANCE $ 376,091 $ 258,442 $ 313,866 $ 453,075 $ 313,866 $ 240,152 BEGINNINGCASH BALANCE $ 326,568 $ 131,720 $ 131,720 $ 131,720 $ 131,720 $ 58,006 AD VALOREM TAXES 38,861 48,062 48,062 3,539 33,942 48,462 400 SALES/BEVERAGE TAXES 457,222 350,000 350,000 191,812 369,877 349,351 (649) INVESTMENT EARNINGS 112 80 80 206 339 260 180 MISCELLANEOUS INCOME 57,855 384,120 384,120 25,472 109,818 435,796 51,676 SURPLUS SALES/RENTALS 116,845 129,774 129,774 80,320 113,538 99,358 (30,416) TOTAL REVENUES $ 670,895 $ 912,036 $ 912,036 $ 301,350 $ 627,514 $ 933,227 $ 21,191 SUPPLIES 4,625 3,100 3,100 - 5,110 3,100 - MAINTENANCE 39,375 23,592 23,592 11,157 21,157 95,403 71,811 SUNDRY 243,725 200,258 200,258 183,976 336,724 297,959 97,701 DEBT 169,796 166,374 166,374 148,483 166,306 168,600 2,226 TRANSFERS 153,519 153,519 153,519 151,919 151,919 154,819 1,300 CAPITAL 122,078 165,000 165,000 18,739 20,012 90,000 (75,000) TOTAL EXPENDITURES $ 733,119 $ 711,843 $ 711,843 $ 514,273 $ 701,228 $ 809,880 $ 98,038 REVENUESOVER EXPENDITURES $ (62,225) $ 200,193 $ 200,193 $ (212,923) $ (73,714) $ 123,347 ENDING FUND BALANCE $ 313,866 $ 458,635 $ 514,059 $ 240,152 $ 240,152 $ 363,499 ENDING CASH BALANCE $ 131,720 $ 331,913 $ 331,913 $ 110,146 $ 58,006 $ 181,353 FUND BALANCE AS%OFEXP 42.8% 64.4% 72.2% 46.7% 34.2% 44.9% RESERVE($115,000)REQUIREMENT) $ 115,000 $ 115,000 $ 115,000 $ 115,000 $ 115,000 $ 115,000 RESERVE SURPLUS/(SHORTFALL) $ 198,866 $ 343,635 $ 399,059 $ 125,152 $ 125,152 $ 248,499 259 C I T Y O F K E N N E D A L E , T E X A S A N N U A L PROGRAM OF SERVICES 15:EDC4B FUND FY14-15 FY15-16 FY15-16 FY15-16 FY15-16 FY16-17 CY-PY CATEGORY ACTUAL ADOPTED AMENDED YTDMAY ESTIMATE ADOPTED CHANGE BEGINNING FUND BALANCE $ 226,740 $ 109,049 $ 164,460 $ 303,544 $ 164,460 $ 90,487 AD VALOREM TAXES 38,861 48,062 48,062 3,539 33,942 48,462 400 SALES/BEVERAGE TAXES 457,222 350,000 350,000 191,812 369,877 349,351 (649) INVESTMENT EARNINGS 57 40 40 72 80 40 - MISCELLANEOUS INCOME 57,855 384,120 384,120 25,472 109,818 435,796 51,676 SURPLUS SALES/RENTALS 116,845 129,774 129,774 80,320 113,538 99,358 (30,416) TOTAL REVENUES $ 670,840 $ 911,996 $ 911,996 $ 301,216 $ 627,255 $ 933,007 $ 21,011 SUPPLIES 4,625 3,100 3,100 - 5,110 3,100 - MAINTENANCE 39,375 23,592 23,592 11,157 21,157 95,403 71,811 SUNDRY 243,725 200,258 200,258 183,976 336,724 297,959 97,701 DEBT 169,796 166,374 166,374 148,483 166,306 168,600 2,226 TRANSFERS 153,519 153,519 153,519 151,919 151,919 154,819 1,300 CAPITAL 122,078 140,000 140,000 18,739 20,012 90,000 (50,000) TOTAL EXPENDITURES $ 733,119 $ 686,843 $ 686,843 $ 514,273 $ 701,228 $ 809,880 $ 123,038 REVENUESOVER EXPENDITURES $ (62,280) $ 225,153 $ 225,153 $ (213,057) $ (73,973) 123,127 ENDING FUND BALANCE $ 164,460 $ 334,202 $ 389,614 $ 90,487 $ 90,487 $ 213,614 FUND BALANCE AS%OF EXP 22.4% 48.7% 56.7% 17.6% 12.9% 26.4% RESERVE(NO REQUIREMENT) $ - $ - $ - $ - $ - $ - RESERVE SURPLUS/(SHORTFALL) $ 164,460 $ 334,202 $ 389,614 $ 90,487 $ 90,487 $ 213,614 260 C I T Y O F K E N N E D A L E , T E X A S A N N U A L PROGRAM OF SERVICES ECONOMIC DEVELOPMENT CORPORATION 4B FUND BUDGET OVERVIEW REVENUES The 2016-2017 Economic Development Corporation 4B (EDC4B) includes $933,227 in revenues is a 48.7%, or $305,713 change from the prior year. The main sources of revenue in the EDC4B Fund are sales taxes and misc. income,which accounts for 37.4% and 46.7%, respectively of all revenue. Revenue by major category is depicted below: EDC4B FUND REVENUES BY TYPE uAd Valorem Taxes oSales Taxes ulnvestment Earnings uMisc.Income wSurplus Sales/Rentals 0.0% Below is the five year trend of revenues: 2013 2014 2015 2016 2017 %Change Fiscal Year (Actual) (Actual) (Actual) (Estimated) (Budgeted) FY13-17 EDC413 Fund Ad Valorem Taxes $ 42,167 $ 52,329 $ 38,861 $ 33,942 $ 48,462 14.93% EDC413 Fund Sales Taxes $ 297,348 $ 325,630 $ 457,222 $ 369,877 $ 349,351 17.49% EDC413 Fund Investment Earnings $ 612 $ 49 $ 112 $ 339 $ 260 -57.52% EDC413 Fund Misc.Income $ 117,255 $ 1,008,096 $ 57,855 $ 109,818 $ 435,796 271.66% EDC413 Fund Surplus Sales/Rentals $ 199,990 $ 149,950 $ 116,845 $ 113,538 $ 99,358 -50.32% EDC413 Fund Total Revenuesl $ 657,372 $ 1,536,054 $ 670,895 $ 627,514 $ 933,227 41.96% EDC413 Fund Revenues Per Capital $ 90.58 $ 207.74 $ 83.95 $ 76.98 $ 112.24 23.90% SALES TAXES Sales Taxes continue to follow the projected path of growth based on economic development within the community and economic projects around the state. We collect .5% of sales taxes for our EDC4B Fund. Sales Taxes make up 37.4% of the EDC4B Budget revenues. C I T Y O F K E N N E D A L E , T E X A S A N N U A L PROGRAM OF SERVICES Below is the chart of sales taxes over the last years: Fiscal Year 2013 2014 2015 2016 2017 Sales Taxes $ 297,348 $ 325,630 $ 457,222 $ 350,000 $ 349,351 Sales Taxes Per Capita $ 40.97 $ 44.04 $ 57.21 $ 42.94 $ 42.02 EXPENDITURES The EDC4B Expenditures are illustrated below by type: 0.4% EDC4B FUND EXPENDITURES BY TYPE 11.11 iuSupplies oMaintenance uSundry ®Debt uTransfers uCapital Sundry makes up 36.8% of expenditures with maintenance, debt, and transfers are 11.8%, 20.8%, and 19.1%, respectively. Supplies and capital make up the remaining 11.5%. Below is the five year trend of expenditures: 2013 2014 2015 2016 2017 %Change Fiscal Year (Actual) (Actual) (Actual) (Estimated) (Budgeted) FY13-17 EDC413 Fund Supplies $ 11,259 $ - $ 4,625 $ 5,110 $ 3,100 -72.47% EDC413 Fund Maintenance $ 32,094 $ 26,036 $ 39,375 $ 21,157 $ 95,403 197.26% EDC413 Fund Sundry $ 277,880 $ 345,864 $ 243,725 $ 336,724 $ 297,959 7.23% EDC413 Fund Debt $ 167,188 $ 167,937 $ 169,796 $ 166,306 $ 168,600 0.84% EDC413 Fund Transfers $ 151,619 $ 155,119 $ 153,519 $ 151,919 $ 154,819 2.11% EDC413 Fund Capital $ 625,069 $ 59,241 $ 122,078 $ 20,012 $ 90,000 -85.60% EDC413 Fund Total Expenditures $1,265,109 $ 754,197 $ 733,119 $ 701,228 $ 809,880 -35.98% EDC413 Fund Expenditures Per Capita $ 174.33 $ 102.00 $ 91.73 $ 86.02 $ 97.40 -44.13% C I T Y O F K E N N E D A L E , T E X A S A N N U A L PROGRAM OF SERVICES LAND USE ANALYSIS (PARKS MASTER PLAN 2016) The most dominant land use in the City of Kennedale is single-family residential, which constitutes 30% of the total area. One of the land use strengths of the City is the availability of vacant lands, with 293 parcels. Another dominant land use is industrial,with about 11%of the land area coverage. , Counts Acres Percentage Cemeteries 2 4148 0.82% Commercial 107 281.15 5.32% Communication 1 0.88 0.02% Education 4 80.49 1.52!0 Group quarters 1 2.71 0.05% Industrial 29 574.30 10.87% Institutional/semi-public 14 51.22 0.97% Landfill 2 496.61 9.4010 Mobile Rome 50 173.84 3.29% Multi-family 7 14.54 0.28 , Parks/recreation 7 264.58 5.01% Railroad 5 44.20 0.84% Ranchland 15 14716 239% Residential acreage 3 6838 1.30% Retail 1 26.07 0.49% Single family 264 1629.51 30.85% Small water bodies 8 18.66 0.35% Under construction 6 2.82 0.05% Utilities 20 229.36 4.34% Vacant 293 1098.35 20.80% Others 3 32.84 0.62% Grand Total 842 5281.57 100 C I T Y O F K E N N E D A L E , T E X A S A N N U A L PROGRAM OF SERVICES or m C � w p v e 0 . o = j� 1 � 4 I • ' d 1 • r I p 1 ili� r I.r rr • rr.�+ c' I raw 1%L AM h m ,dam 1 _1, r 1 =r �- ._a 1 u 1 n w a / N ( r`Ck f u .� to Nwoo 4 � I W W - W F Z � C C I T Y O F K E N N E D A L E , T E X A S A N N U A L PROGRAM OF SERVICES TOWN CENTER PROJECT (CURRENT AND PROPOSED) NNED L � 'm all Existng HUGHES proposed COMMERCIAL i • i ELE1VfENTS "AT g . CM rau. 91,Wd EnyiMarinO fkwp,PLLC -•, ,..ra.y,�,wrrs.r aa..pq wmwvc a ane n — C�it co—ma m ,r•.0 I A ��Yy NUMU G1 umru ru�w� •vA0' \� rn.Twrr moo 4; 0� i j l l l l 11 1111111,E • • � .- ---- - ` Building 11 120,000 sf Building Suite .1 18,000 sf Suite 508 11,441 sf Building 2 9,945 sf (Proposed) Suite 516 11,000 sf Building 1 sf (Proposed) Building • 6,600 ar • - • • Building . . 01 (Proposed) Under Leased � I 1 p I, C I T Y O F K E N N E D A L E , T E X A S A N N U A L PROGRAM OF SERVICES 15:EDC4BFUND FY14-15 FY15-16 FY15-16 FY15-16 FY15-16 FY16-17 CY-PY ACCOUNT ACCOUNT NAME ACTUAL ADOPTED AMENDED YTDMAY ESTIMATE PROPOSED CHANGE 4002-00-00 MMDTAX-CURRENTYEAR 38,861 48,062 48,062 3,539 33,942 48,462 400 ADVALOREM TAXES $ 38,861 $ 48,062 $ 48,062 $ 3,539 $ 33,942 $ 48,462 $ 400 4081-00-00 SALESTAX 457,222 350,000 350,000 191,812 369,877 349,351 (649) SALES/BEVERAGE TAXES $ 457,222 $ 350,000 $ 350,000 $ 191,812 $ 369,877 $ 349,351 $ (649) 4401-00-00 INVESTMENT INCOME 57 40 40 72 80 40 - INVESTMENT EARNINGS $ 57 $ 40 $ 40 $ 72 $ 80 40 $ - 4409-00-00 MISCELLANEOUS INCOME 57,855 384,120 384,120 25,472 109,818 51,676 MISCELLANEOUS INCOME $ 57,855 $ 384,120 $ 384,120 $ 25,472 $ 109,818 $ 51,676 4805-00-00 RENTAL FEES-SHOPPING CENTER 116,477 121,274 121,274 79,761 111,506 93,612 (22,662) 4806-00-00 RENTALINSURANCE 368 8,500 8,500 559 2,032 6 (7,754) SURPLUS SALES/RENTALS $ 116,845 $ 129,774 $ 129,774 $ 80,320 $ 113,538 $ (30,416) TOTAL REVENUES $ 670,840 $ 911,996 $ 911,996 $ 301,216 $ 627,255 $ 933,007 $ 21,011 TOTAL REVENUES(EXCLUDING INTEREST/TRANSFERS) $ 670,783 $ 911,956 $ 911,956 $ 301,144 $ 627,175 $ 932,967 $ 21,011 10%ADMIN CHARGE-GENERAL FUND 67,078 91,196 91,196 30,114 62,717 93,297 2,101 C I T Y O F K E N N E D A L E , T E X A S A N N U A L PROGRAM OF SERVICES 15:EDC4B FUND FY16-17 PROPOSED 4002-00-00 MMD TAX-CU RRENT YEAR BASED ON FY1 3/14 ASSESSED VALUE OF$2,783,693 AND 48,462 TOTALTAX RATE OF 2.880965 PER$100(MINUSTRACT 1 R FOR SURPLUS) CITY OF KEN NEDALE:$0.747500 KENNEDALE ISO:$1.492068 TARRANT COUNTY:$0.264000 TARRANT HOSPITAL:$0.227897 TARRANT COLLEGE:$0.149500 4081-00-00 SALESTAX GENERALLY BUDGET BASED ON PRIOR 3 YEARS OF HISTORY 349,351 349,351 4401-00-00 INVESTMENT INCOME EARNING BASED UPON AVERAGE BALANCE/INTEREST RATES 40 40 4409-00-00 MISCELLANEOUS INCOME SALE OF 1121 WEST KENNEDALE PARKWAY 348,000 435,796 (APACHE/NACHO/FOX/WH EEL ER/HUNDE PURCHASED FY09/10)-3RD PADSITE,4TH PA DSITE REMAINING MONTHLY RENT FROM REDS ROADHOUSE($1217/MO-1 YEAR 14,604 LEASE EXTENSION) MONTHLY FEE FROM CHAMBER FOR SERVICES($2000 MONTH) 24,000 TML INSURANCE CHECK FOR HAIL DAMAGE FOR BUILDING 1 27,042 ($70,291.21-$27,042.44 FOR DEPRECIATION) TML INSURANCE CHECK FOR HAIL DAMAGE FOR CHICKEN 22,029 EXPRESS($49,858.61-$22,029.33 FOR DEPRECIATION) MONTHLY FEE FROM CHAMBER PER RENTAL AGREEMENT($10 120 MONTH)PLUS$100 DEPOSIT 4805-00-00 RENTAL FEES-SHOPPING CENTER CHICKEN EXPRESS ($2518 MONTH, RELOCATION JUL 2013, - LEASE EXPIRES 05/31/17,GOES TO$0 UPON MOVE) DOLLAR GENERAL ($4719 MONTH, LEASE EXPIRES 07/31/17, 56,628 2%MANAGEMENT FEE FOR AT REN EWA I) BUILDING ONE VACANT($8400 MONTH) - PREPAID TENANT FEES RECEIVED BUT CORRESPONDING OFFSET 41,984 OCCURS WHEN BOOKED AGAINST CAM EXPENSES(EXCLUDES RENTALINSURANCECAM) 4806-00-00 RENTAL INSURANCE RENTAL CAM COLLECTED ON LEASE AGREEMENTS AND THEN 746 r USED TO PAY TML INSURANCE (OFFSETTING EXPENSE UNDER TOWN SHOPPING CENTER)($62.16/MO) TOTAL REVENUES 933,007 267 C I T Y O F K E N N E D A L E , T E X A S A N N U A L PROGRAM OF SERVICES DEPARTMENT OUTLINE. ADMINISTRATION FUNCTIONS Provides administration for the general business of growing economic development using the EDC4B funds HIGHLIGHTS AND GOALS ACCOMPLISHED • Eliminated all Sexually Oriented Business buildings (SOB) (5.0) • Secured McDonald's, Dickey's Barbeque, and new Chicken Express location (7.0) • Helped with R E Watson Glass expansion (7.0) SHORT-TERM GOALS • Secure additional business for the employment district on Kennedale Parkway near Interstate 20 (7.0) • Recruitment of new light manufacturing businesses within Bloxom Business Park and along east Kennedale Parkway(7.0) • Development of an access plan along Kennedale Parkway to facilitate the elimination of the continuous turn lane (7.0) LONG-TERM GOALS ■ Increase sales taxes to property taxes ratio from 25% to 50% (4.8) STAFFING RESOURCES ■ Contract with Orasi for management services PERFORMANCE MEASURES (THROUGH JUNE 2016) ■ 4 Land Deals 3 380 Agreements to Businesses ■ 0 Visual Grants to Businesses ■ Pertinent 2015 Resident Satisfaction Survey Results (Every Two Years; Next survey in Fall 2017) • Business Friendly—53% • Shopping Opportunities—47% 268 C I T Y O F K E N N E D A L E , T E X A S A N N U A L PROGRAM OF SERVICES DEPARTMENT SUMMARY BUDGET 15:EDC48FUND 01:ADMINISTRATION FY14-15 FY15-16 FY15-16 FY15-16 FY15-16 FY16-17 CY-PY ACCOUNT ACCOUNTNAME ACTUAL ADOPTED AMENDED YTD MAY ESTIMATE PROPOSED CHANGE SUPPLIES 4,625 3,100 3,100 - 5,110 3,100 SUNDRY 216,284 173,366 173,366 166,555 312,339 273,067 99,701 CAPITAL 20,887 - - - 1,274 - - TOTAL EXPENDITURES $ 241,795 $ 176,466 $ 176,466 $ 166,555 $ 318,722 $ 276,167 $ 99,701 269 C I T Y O F K E N N E D A L E , T E X A S A N N U A L PROGRAM OF SERVICES 15:EDC4B FUND 01:ADMINISTRATION FY14-15 FY15-16 FY15-16 FY15-16 FY15-16 FY16-17 CY-PY ACCOUNT ACCOUNTNAME ACTUAL ADOPTED AMENDED YTDMAY ESTIMATE PROPOSED CHANGE 5240-01-00 PRINTED SUPPLIES 4,505 3,000 3,000 5,110 3,000 5260-01-00 GENERAL OFFICESUPPLIES - 50 50 - 50 5261-01-00 POSTAGE 120 50 50 - 50 SUPPLIES $ 4,625 $ 3,100 $ 3,100 $ $ 5,110 $ 3,100 $ 5501-01-00 ADVERTISING 359 1,200 1,200 - 2,200 1,000 5510-01-00 ASSOC DUES/PUBLICATIONS 4,755 4,020 4,020 5,086 5,320 5,320 1,300 5525-01-00 TRAINING/SEMINARS - 250 250 - - 250 - 5565-01-00 LEGALSERVICES 9,700 1,000 1,000 900 4,712 7,000 6,000 5567-01-00 AUDITSERVICES 2,000 2,000 2,000 2,000 2,000 2,250 250 5570-01-00 SPECIALSERVICES 82,708 72,600 72,600 56,499 119,699 74,650 2,050 5578-01-00 TRAVEL 70 100 100 - - 100 - 5580-01-00 ENGINEERING SERVICES 17,038 1,000 1,000 53,610 56,460 6,000 5,000 5595-01-00 ADMIN CHARGE-GENERAL FUND 60,557 91,196 91,196 24,029 62,717 93,297 2,101 5610-01-00 VISUALGRANT - - - 4,843 4,843 50,000 50,000 5615-01-00 FUNCTIONALGRANT 39,097 - - 19,588 56,588 32,000 32,000 SUNDRY $ 216,284 $ 173,366 $ 173,366 $ 166,555 $ 312,339 $ 273,067 $ 99,701 5800-01-00 LAND 20,887 - - - 1,274 - - CAPITAL $ 20,887 $ - $ - $ - $ 1,274 $ - $ - TOTAL EXPENDITURES $ 241,795 $ 176,466 $ 176,466 $ 166,555 $ 318,722 $ 276,167 $ 99,701 C I T Y O F K E N N E D A L E , T E X A S A N N U A L PROGRAM OF SERVICES 15:EDC4BFUND 01:ADMINISTRATION FY16-17 PROPOSED 5240-01-00 PRINTEDSUPPLIES PRINTED MAPSOF ENTIRECITY 3,000 5260-01-00 GENERAL OFFICE SUPPLIES FILES/FOLDERS/PAPER/PENCILS 50 5261-01-00 POSTAGE FOR MAIL OUTS/MARKETING PACKAGES 50 5501-01-00 ADVERTISING PROMOTIONAL ADVERTISING,LEGAL NOTICES AND BUDGET HEARING 1,200 AD($1200) OAK CREST LAND SIGN($1000) 1,000 5510-01-00 ASSOCDUES/PUBLICATIONS TEXAS ECONOMIC DEVELOPMENT COMMISSION 200 5,320 CITY($1925)&EDC($1925)KENNEDALE CHAMBER MEMBERSHIP 3,850 DALLAS CHAMBER($870)&TX MONTHLY ECONOMIC GUIDE AD($0), 1,270 DALLAS CHAMBER MAP ADD($400) 5525-01-00 TRAINING/SEMINARS EDC TRAINING THROUGH VARIOUS ASSOCIATIONS BY BOARD 250 250 5565-01-00 LEGAL SERVICES BILLABLE HOURS FOR CITY ATTORNEY ON EDC RELATED PROJECTS(I.E., 7,000 7,000 HOTEL,OTHER POTENTIAL OPPORTUNITIES) 5567-01-00 AUDITSERVICES PATTILLO,BROWN&HILL SERVICES FOR INDEPENDENT ANNUAL AUDIT 2,250 2,250 (FY11/12 $1500, FY12/13 $1500, FY13/14 $2K, FY14/15 $2K, FYI 5/16$2250) 5570-01-00 SPECIAL SERVICES TOWN CENTER CONSULTING FIRM (APPROXIMATELY$5500/MONTH 66,000 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) DUE NORTH MEDIA 250 SWEEN EY HO USE TEAR DOWN 6,000 WEBSITE MAINTENANCE BY CONSULTANT($200/MONTH) 2,400 5578-01-00 TRAVEL TRAVEL RELATED TO OTHER EDC TRAINING/SEMINARS BY 100 STAFF/BOARD 5580-01-00 ENGINEERING TIED TO POTENTIAL ACTIVITIES/PROJECTS(I.E.,HOTEL,ETC.) 6,000 5595-01-00 ADMIN CHARGE-GENERAL FUND CHARGE FOR SERVICES PROVIDED BYGENERALFUND RESOURCES(10% 93,297 TOTAL REVENUES EXCLUDING INTEREST/TRANSFERS) 5610-01-00 VISUAL GRANT MONTGOMERY MANUFACTURING GRANT 25,000 NANCY'S LIQUOR GRANT 25,000 5615-01-00 FUNCTIONALGRANT H2O 380 SALESTAX AGREEMENT 24,000 WATSON GLASS 380 PROPERTY TAX AGREEMENT(MAY 2019) 3,000 H&O DIE SUPPLY 380 PROPERTY TAX AGREEMENT(MAY 2019) 5,000 TOTAL EXPENDITURES 'f C I T Y O F K E N N E D A L E , T E X A S A N N U A L PROGRAM OF SERVICES DEPARTM ,.., DEBT SERVICE FUNCTIONS Provides debt related transactions relating to economic development HIGHLIGHTS AND GOALS ACCOMPLISHED ■ N/A SHORT-TERM GOALS ■ N/A LONG-TERM GOALS ■ Pay off of all debt in 2030 (4.7) STAFFING RESOURCES ■ N/A PERFORMANCE MEASURES ■ N/A DEPARTMENT SUMMARY BUDGET 15:EDC4B FUND 01:ADMINISTRATION 03:DEBT SERVICE FY14-15 FY15-16 FY15-16 FY15-16 FY15-16 FY16-17 CY-PY ACCOUNT ACCOUNT NAME ACTUAL ADOPTED AMENDED YTD MAY ESTIMATE PROPOSED CHANGE DEBT 169,796 166,374 166,374 148,483 166,306 168,600 2,226 TRANSFER 153,519 153,519 153,519 151,919 151,919 154,819 1,300 TOTAL EXPENDITURES $ 323,315 $ 319,893 $ 319,893 $ 300,401 $ 318,225 $ 323,419 $ 3,526 C I T Y O F K E N N E D A L E , T E X A S A N N U A L PROGRAM OF SERVICES 15:EDC4B FU ND 01:ADMINISTRATION 03:DEBTSERVICE FY14-15 FY15-16 FY15-16 FY15-16 FY15-16 FY16-17 CY-PY ACCOUNT ACCOUNTNAME ACTUAL ADOPTED AMENDED YTDMAY ESTIMATE PROPOSED CHANGE 5643-01-03 2007$1.2M TAX BOND-INTEREST 65,625 62,203 62,203 62,135 62,135 58,728 (3,476) 5644-01-03 2007$1.2M TAX BOND-PRINCIPAL 50,000 50,000 50,000 50,000 50,000 55,000 5,000 5645-01-03 2011$1.7M TX LEVERAGE-INT 17,024 15,798 15,798 10,395 15,798 15,672 (126) 5646-01-03 2011$1.7M TX LEVERAG E-PRI 37,147 38,373 38,373 25,953 38,373 39,200 827 DEBT $ 169,796 $ 166,374 $ 166,374 $ 148,483 $ 166,306 $ 168,600 $ 2,226 5702-01-03 TRANSFER OUT-DEBT SERVICE FUND 153,519 153,519 153,519 151,919 151,919 154,819 1,300 TRANSFER $ 153,519 $ 153,519 $ 153,519 $ 151,919 $ 151,919 $ 154,819 $ 1,300 TOTAL EXPENDITURES $ 323,315 $ 319,893 $ 319,893 $ 300,401 $ 318,225 $ 323,419 $ 3,526 15:E DC4B FUN D 01:ADMINISTRATION 03:DEBT SERVICE FY16-17 PROPOSED 5643-01-03 2007$1.2M TAX BOND-INTEREST DUE 11/01 29,364 5E, DUE 05/01 29,364 564401-03 2007$1.2M TAX BOND-PRINCIPAL DUE05/01 55,000 55,000 5645-01-03 2011$1.7M TX LEVERAGE-INT DUE BY1STOF EACH MONTH(BEGINS 11/01/2011) 15,672 15,672 5646-01-03 2011$1.7M TX LEVERAGE-PRI DUE BY1STOF EACH MONTH(BEGINS 11/01/2011) 39,200 39,200 5702-01-03 TRANSFER OUT-DEBT SERVICE FUND DUE11/01 INTEREST:2010$2.OMCO BOND 34,909 154,819 DUE05/01 INTEREST:2010$2.OM CO BOND 34,909 DUE05/01 PRINCIPAL:2010$2.OMCOBOND 85,000 TOTAL EXPENDITURES $ 323,419 273 C I T Y O F K E N N E D A L E , T E X A S A N N U A L PROGRAM OF SERVICES DEPARTMENT OUTLINE TOWNCENTER SHOPPING FUNCTIONS Provides services and maintenance to TownCenter shopping businesses HIGHLIGHTS AND GOALS ACCOMPLISHED • Secured Dickey's Barbeque (7.0) • Secured new Chicken Express location (7.0) • Secured Zani's Salon (7.0) • Secured new dental office: Kennedale Family Dental and Orthodontics in TownCenter (7.0) • Renovated Building One space (7.0) SHORT-TERM GOALS ■ Demolition of old Chicken Express building and finishing out of parking lot (7.0) LONG-TERM GOALS • Build out of all planned buildings of TownCenter (7.0) • Secure a sit down restaurant in TownCenter (7.0) • Have all locations in TownCenter filled with businesses (7.0) STAFFING RESOURCES ■ Contract with Hughes Commercial Real Estate &Development for management of TownCenter PERFORMANCE MEASURES (THROUGH 11IN ' %161 ■ New Businesses in TownCenter Shopping Area: 3 DEPARTMENT SUMMARY BUDGET 15:EDC4B FUND 02:TOWN SHOPPING CENTER FY14-15 FY15-16 FY15-16 FY15-16 FYI 5-16 16­17 CY-PY ACCOUNT ACCOUNTNAME ACTUAL ADOPTED AMENDED YTD MAY ESTIMATE �°,1 Qs", CHANGE MAINTENANCE 39,375 23,592 23,592 11,157 21,157 71,811 SUNDRY 27,442 26,892 26,892 17,421 24,385 (2,000) TOTAL EXPENDITURES $ 66,817 $ 50,484 $ 50,484 $ 28,578 $ 45,542 $ 69,811 C I T Y O F K E N N E D A L E , T E X A S A N N U A L PROGRAM OF SERVICES 15:EDC4BFUND 02:TOWNS HOPPING CENTER FY14-15 FYI 5-16 FYI 5-16 FY15-16 FY15-16 FY16-17 CY-PY ACCOUNT ACCOUNTNAME ACTUAL ADOPTED AMENDED YTDMAY ESTIMATE PROPOSED CHANGE 5403-02-00 BUILDING MAINTENANCE 39,375 23,592 23,592 11,157 21,157 95,40: 71,811 MAINTENANCE $ 39,375 $ 23,592 $ 23,592 $ 11,157 $ 21,157 95,40.E $ 71,811 5530-02-00 ELECTRIC SERVICES 5,297 5,000 5,000 2,872 4,872 5,000 - 5545-02-00 INSURANCE-PROPERTY 6,347 8,500 8,500 6,121 6,121 6,500 (2,000) 5570-02-00 SPECIAL SERVICES 15,797 13,392 13,392 8,428 13,392 13,392 SUNDRY $ 27,442 $ 26,892 $ 26,892 $ 17,421 $ 24,385 S 24,892 $ (2,000) TOTAL EXPENDITURES $ 66,817 $ 50,484 $ 50,484 $ 28,578 $ 45,542 S 120,29.,: $ 69,811 15:EDC4BFUND 02:TOWN SHOPPING CENTER FY16-17 PROPOSED 5403-02-00 BUILDING MAINTENANCE WATER($460/MO NTH) 5,520 FIRE SPRINKLER-CAM($200/QUARTER) 800 TML HAIL DAMAGES ON BUILDING 1 70,291 LANDSCAPE/MATERIALS-CAM($1166/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 COVERAGETHROUGH TEXAS MUNICIPAL LEAGUE(CHICKEN 6,500 6,500 EXPRESS/DOLLAR GENERAL BUILDING ON TML SCHEDULE, ALL OTHER BUILDINGS CARRIED ON CYPRESS INSURANCE) 5570-02-00 SPECIAL SERVICES PROPERTY/ASSET MANAGEMENT($500 PER MONTH) 6,000 13,392 SEP 2015 -FEB 2017:SUBWAY$150,ACE$466 OR$7392 6,342 FY15/16-FY16/17 ANNUAL MAR 2017-AUG 2018:SUBWAY$150 OR$1800 FY17/18 11050 ANNUAL TOTAL EXPENDITURES $ 120,295 275 C I T Y O F K E N N E D A L E , T E X A S A N N U A L PROGRAM OF SERVICES DEPARTMENT OUTL` TOWNCENTER REDEVELOPMENT FUNCTIONS Growth and redevelopment of the town shopping center HIGHLIGHTS AND GOALS ACCOMPLISHED • Secured Dickey's Barbeque (7.0) • Secured new Chicken Express location (7.0) • Secured Zani's Salon (7.0) • Secured new dental office Kennedale Family Dental and Orthodontics in TownCenter (7.0) • Renovated Building One space (7.0) SHORT-TERM GOALS ■ Demolition of old Chicken Express building and finishing out of parking lot (7.0) LONG-TERM GOALS • Build out of all planned buildings of TownCenter (7.0) • Secure a sit down restaurant in TownCenter (7.0) • Have all locations in TownCenter filled with businesses (7.0) STAFFING RESOURCES ■ Contract with Hughes Commercial Real Estate &Development for management of TownCenter PERFORMANCE MEASURES (THROUGH 11IN ' %161 ■ New Businesses in TownCenter Shopping Area: 3 DEPARTMENT SUMMARY BUDGET 15:EDC4B FUND 03:TOWN CENTER REDEVELOPMENT FY14-15 FY15-16 FY15-16 FY15-16 FY15-16 FY16-17 CY-PY ACCOUNT ACCOUNT NAME ACTUAL ADOPTED AMENDED YTDMAY ESTIMATE PROPOSED CHANGE CAPITAL 90,000 90,000 90,000 TOTAL EXPENDITURES $ $ 90,000 $ 90,000 $ $ $ 90,000 $ C I T Y O F K E N N E D A L E , T E X A S A N N U A L PROGRAM OF SERVICES 15:EDC4B FUND 03:TOWN CENTER REDEVELOPMENT FY14-15 FY15-16 FY15-16 FY15-16 FY15-16 FY16-17 Cy-PY ACCOUNT ACCOUNT NAME ACTUAL ADOPTED AMENDED YTD MAY ESTIMATE PROPOSE[ CHANGE 5580-03-00 ENGINEERING SERVICES 10,000 10,000 10,000 5847-03-00 CONSTRUCTION 80,000 80,000 80,000 CAPITAL $ $ 90,000 $ 90,000 $ $ $ 90,000 $ TOTAL EXPENDITURES $ $ 90,000 $ 90,000 $ $ $ 90,000 $ 15:EDC4B FUND 03:TOWN CENTER REDEVELOPMENT FY16-17 PROPOSED 5580-03-00 ENGINEERING SERVICES PARKING LOT MODIFICATION 10,000 10,000 5847-03-00 CONSTRUCTION CHICKEN EXPRESS BUILDING HEALTH INSPECTIONS/ASBESTOS 5,000 80,000 SURVEY CHICKEN EXPRESSTEAR DOWN/DEMOLITION 25,000 CHICKEN EXPRESS PARKING LOT MODIFICATION 50,000 TOTAL EXPENDITURES 90,000 a77 C I T Y O F K E N N E D A L E , T E X A S A N N U A L PROGRAM OF SERVICES )DEPARTMENT OUTLINE: TEXAS LEVERAGE PROGRAM FUNCTIONS Expand our economic development presence in the city HIGHLIGHTS AND GOALS ACCOMPLISHED ■ Secured land for development opportunity SHORT-TERM GOALS ■ N/A LONG-TERM GOALS ■ N/A STAFFING RESOURCES ■ N/A PERFORMANCE MEASURES ■ N/A DEPARTMENT SUMMARY BUDGET 15:EDC4BFUND 04:TEXAS LEVERAGE PROGRAM FY14-15 FY15-16 FY15-16 FY15-16 FY15-16 FY16-17 CY-PY ACCOUNT ACCOUNT NAME ACTUAL ADOPTED AMENDED YTD MAY ESTIMATE PROPOSED CHANGE CAPITAL 101,192 50,000 50,000 18,739 18,739 (50,000) TOTAL EXPENDITURES $ 101,192 $ 50,000 $ 50,000 $ 18,739 $ 18,739 $ (50,000) C I T Y O F K E N N E D A L E , T E X A S A N N U A L PROGRAM OF SERVICES 15:EDC46 FUND 04:TEXAS LEVERAGE PROGRAM FY14-15 FY15-16 FY15-16 FY15-16 FY15-16 FY16-17 CY-PY ACCOUNT ACCOUNTNAME ACTUAL ADOPTED AMENDED YTDMAY ESTIMATE PROPOSED CHANGE 5800-04-00 LAND 101,192 50,000 50,000 18,739 18,739 - (50,000) CAPITAL $ 101,192 $ 50,000 $ 50,000 $ 18,739 $ 18,739 $ (50,000) TOTAL EXPENDITURES $ 101,192 $ 50,000 $ 50,000 $ 18,739 $ 18,739 $ (50,000) 15:EDC4B FUND 04:TEXAS LEVERAGE PROGRAM FY16-17 PROPOSED 5800-00-00 LAND TOTAL EXPENDITURES C I T Y O F K E N N E D A L E , T E X A S A N N U A L PROGRAM OF SERVICES 19:EDC4B CAPITAL BOND FUND FY14-15 FY15-16 FY15-16 FY14-15 FY14-15 FY16-17 CY-PY CATEGORY ACTUAL ADOPTED AMENDED YTDMAY ESTIMATE PROPOSED CHANGE BEGIN NING FUND BALANCE $ 29,429 $ 29,441 $ 29,444 $ 29,484 $ 29,444 $ 29,524 INVESTMENT EARNINGS 15 15 15 40 80 60 45 TOTAL REVENUES $ 15 $ 15 $ 15 $ 40 $ 80 $ 60 $ 45 CAPITAL - 25,000 25,000 - - - (25,000) TOTAL EXPENDITURES $ - $ 25,000 $ 25,000 $ - $ - $ (25,000) REVENUESOVER EXPENDITURES $ 15 $ (24,985) $ 25,015 $ 40 $ 80 '< ENDING FUND BALANCE $ 29,444 $ 4,456 $ 54,459 $ 29,524 $ 29,524 $ 29;5 FUND BALANCE AS%OFEXP N/A 17.8% 217.8% N/A N/A A RESERVE(NO REQUIREMENT) $ - $ - $ - $ - $ - RESERVE SURPLUS/(SHORTFALL) $ 29,444 $ 4,456 $ 54,459 $ 29,524 $ 29,524 C I T Y O F K E N N E D A L E , T E X A S A N N U A L PROGRAM OF SERVICES 19:EDC4BCAPITAL BOND FUND FY14-15 FY15-16 FY15-16 FY15-16 FY15-16 FY16-17 CY-PY ACCOUNT ACCOUNT NAME ACTUAL ADOPTED AMENDED YTDMAY ESTIMATE PROPOSED CHANGE 4401-00-00 INVESTMENT INCOME 15 15 15 40 80 60 45 INVESTMENT EARNINGS $ 15 $ 15 $ 15 $ 40 $ 80 $ 60 $ 45 TOTAL REVENUES $ 15 $ 15 $ 15 $ 40 $ 80 $ 60 $ 45 19:EDC4BCAPITAL BOND FUND 01:TOWN CENTER REDEVELOPMENT FY14-15 FY15-16 FY15-16 FY15-16 FY15-16 FY16-17 CY-PY ACCOUNT ACCOUNT NAME ACTUAL ADOPTED AMENDED YTDMAY ESTIMATE PROPOSED CHANGE 5847-01-00 CONSTRUCTION 25,000 25,000 (25,000) CAPITAL $ $ 25,000 $ 25,000 $ $ $ $ (25,000) TOTAL EXPENDITURES $ $ 25,000 $ 25,000 $ $ $ $ (25,000) 19:EDC4BCAPITAL BOND FUND FY16-17 PROPOSED 4401-00-00 INVESTMENT INCOME EARNING BASED UPON AVERAGE BALANCE/INTERESTRATES 60 TOTAL REVEN U ES 19:EDC4B CAPITAL BOND FUND 01:TOWN CENTER REDEVELOPMENT FY16-17 PROPOSED 5847-01-00 CONSTRUCTION WATER TANK IN TOWNCENTER($25,000 INS YEARS 2021) TOTAL EXPENDITURES C I T Y O F K E N N E D A L E , T E X A S A N N U A L PROGRAM OF SERVICES 95:EDC4B RESERVE FUND FY14-15 FY15-16 FY15-16 FY15-16 FY15-16 FY16-17 CY-PY CATEGORY ACTUAL ADOPTED AMENDED YTD MAY ESTIMATE PROPOSED CHANGE BEGINNING FUND BALANCE $ 119,922 $ 119,952 $ 119,962 $ 120,047 $ 119,962 $ 120,141 INVESTMENT EARNINGS 40 25 25 94 179 160 135 TOTAL REVENUES $ 40 $ 25 $ 25 $ 94 $ 179 $ 160 $ 135 TOTAL EXPENDITURES $ - $ - $ - $ - $ - $ - $ - REVENUESOVER EXPENDITURES $ 40 $ 25 $ 25 $ 94 $ 179 $ 160 ENDING FUND BALANCE $ 119,962 $ 119,977 $ 119,987 $ 120,141 $ 120,141 $ 120,301 FUNDBALANCE AS%OF EXP N/A N/A N/A N/A N/A N/A RESERVE($112,606 REQUIREMENT) $ 112,606 $ 112,606 $ 112,606 $ 112,606 $ 112,606 $ 112,606 RESERVE SURPLUS/(SHORTFALL) $ 7,356 $ 7,371 $ 7,381 $ 7,535 $ 7,535 $ 7,695 C I T Y O F K E N N E D A L E , T E X A S A N N U A L PROGRAM OF SERVICES 95:EDC4B RESERVE FUND FY14-15 FY15-16 FY15-16 FY15-16 FY15-16 FY16-17 CY-PY ACCOUNT ACCOUNT NAME ACTUAL ADOPTED AMENDED YTD MAY ESTIMATE PROPOSED CHANGE 4401-00-00 INVESTMENT I NCOME 40 25 25 94 179 160 135 INVESTMENT EARN INGS $ 40 $ 25 $ 25 $ 94 $ 179 $ 160 $ 135 TOTAL REVENUES $ 40 $ 25 $ 25 $ 94 $ 179 $ 160 $ 135 95:EDC413 RESERVE FUND FY14-15 FY15-16 FY15-16 FY15-16 FY15-16 CY-PY ACCOUNT ACCOUNT NAME ACTUAL ADOPTED AMENDED YTD MAY ESTIMATE CHANGE TRANSFERS $ $ $ $ $ $ TOTAL EXPENDITURES $ $ $ $ $ $ 95:EDC4B RESERVE FUND FY16-17 PROPOSED 4401-00-00 INVESTMENT INCOME EARNING BASED UPON AVERAGE BALANCE/INTEREST 160 RATES TOTAL REVEN U ES FY16-17 PROPOSED TOTAL EXPENDITURES PROJECTS LIST KENNEDALE ECONOMIC DEVELOPMENT CORPORATION The Kennedale Economic Development Corporation intends to participate in "Projects," as defined in the Development Corporation Act of 1979, as amended, Texas Revised Civil Statutes Annotated Article 5190.6, including, but not limited to, designing, acquiring, improving, and operating the following: 1 . "TownCenter Project," Operations/Management/Marketing of a "mid-city" downtown district including but not limited to the commercial, medical, retail, entertainment, food truck park, farmers market, land acquisition and (New Urbanism style, typically higher density/multi-storied) residential growth of TownCenter Kennedale and its surrounding area, 2. "Redevelopment Project," The development of new and renovation of existing commercial/residential and municipal/KEDC projects designed to enhance Kennedale's lifestyle and quality of life; 3. "TownCenter Beautification Project," The further development/ beautification/landscaping/upgrading of the TownCenter Kennedale area and its adjoining Plaza; 4. "Arts Project," The planning, implementation, and operation of City Festivals and Events, 5. "Sign Project," The construction of a new Kennedale Entranceway Monument Sign at a site TBD, and/or directional signs, 6. "Parkway Project," The creation and implementation of Kennedale Parkway, Village Creek, and 1-20 commercial and residential Urban Renewal/Development/Redevelopment/Revitalization/Access and Safety Studies/Economic Incentives/Beautification plans/Kennedale Parkway Landscape/Sidewalks and actual projects derived from these plans, including Consultation, Planning, Legal, and Engineering Services, 7. "Development Project," The Creation of a Tax Increment Reinvestment Zone (TIRZ) and Municipal Management District (MMD) including Consultation, Planning, Legal, and Engineering Services; 8. "Branding Project," A Kennedale Marketing and Implementation Plan aimed at City Branding and attracting new Kennedale projects and businesses, 9. "Grant Project," The continuation of the existing Revitalization Grant Program and funding for fapade, landscaping and/or signage improvements, 10. "Industrial Expansion Project," Industrial expansion and recruitment program, including loans, fee waivers, incentive payments, driveway and access construction, street construction, and land leases; 11 . "Industrial Recruitment Project," The recruitment of new and retention of existing Kennedale industrial businesses and development/ redevelopment of industrial park(s), including but not limited to rail spurs, infrastructure, and office parks, etc., 12. "Hotel Project," The attraction and development of a hotel, including land acquisition, site development, financing, land lease, studies, and ownership investment, 13. "Transit Project," The attraction and development of DFW Metroplex area commuter transit/light rail/mass transportation services, including land acquisition, the development of a Kennedale rail station and related improvements, 14. "Landbank Project," The purchase/leasing/sale or other means of transfer of real estate land and properties for the accomplishment of the above designated projects, 15. "Village Creek Project," The development of Village Creek Park, including land acquisition, recreation facility development, water quality enhancement features, and related flood control and water quality studies; 16. "Oak Crest Development," The land acquisition and site development for the Oak Crest area, including utility extension, street improvements, consultation, plans, legal and engineering services, 17. "Financing Project," The issuance, purchase, sale, or other means of transfer of Bonds and other debt instruments designed to fund the above objectives including, but not limited to implementing a Tax Increment Reinvestment Zone (TIRZ) District/Municipal Management District (MMD)/Texas Leverage Fund and mixed-use project(s) development/redevelopment, 18. "Staff Support Project," Contractual staff services, 19. "Hotel/Motel Tax Administration," Manage the administration of the collection and expenditure of the hotel/motel occupancy tax in accordance with chapter 351 of the Texas Tax Code, 20. "Administrative Project," All necessary services and related expenses for the above projects including but not limited to project master-planning, engineering; alternate energy sources; project advertising/marketing; related consultant and legal services; new construction/remodeling/ maintenance of landscaping, roadways, City/KEDC owned or leased buildings, and their related improvements. B KENNEDALE Kennedale Economic Development Corporation www.cityofkennedale.com STAFF REPORT TO THE BOARD OF DIRECTORS Date: August 23, 2016 Agenda Item No: STAFF ANNOUNCEMENTS/REPORTS - A. I. Subject: Oak Crest Development B. TownCenter C. Library- SCORE Program D. Chamber of Commerce Report II. Originated by: Bob Hart III. Summary: The Director will provide an update on these items. • Oak Crest Development • TownCenter • Library - SCORE Program • 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: August 23, 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. Hospitality Project 2. 1170 Kennedale Parkway II. Originated by: Bob Hart III. Summary: These items will be discussed during the Executive Session. • Hospitality Project • 1170 Kennedale Parkway IV. Recommendation: V. Alternative Actions: VI. Attachments: