2016_09.27 EDC Packet B
KENNEDALE
Kennedale Economic
Development Corporation
www.cityofkennedale.com
ECONOMIC DEVELOPMENT CORPORATION
AGENDA
BOARD OF DIRECTORS - REGULAR MEETING
September 27, 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 August 23, 2016 regular meeting
IV. REGULAR ITEMS
A. Review and accept the KEDC Financial Report for August 2016
B. Authorize President to execute documentation related to buildings 5, 6, and 7 of the TownCenter;
including, but not limited to Deed of Trust and Security Agreement, Certificate of Non-Foreign
Status, Statute of Fraud Notice, Agreement for Ingress-Egress and Parking Easement, Loan
Assumption Agreement and Assignment Agreement
V. STAFF ANNOUNCEMENTS/REPORTS
A. Oak Crest Development
B. TownCenter
C. 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 September 27,2016, 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: September 27, 2016
Agenda Item No: MINUTES APPROVAL - A.
I. Subject:
Consider approval of the minutes from the August 23, 2016 regular meeting
II. Originated by:
III. Summary:
Minutes are prepared by the Deputy City Secretary and ready for approval.
IV. Recommendation:
Approve
V. Alternative Actions:
VI. Attachments:
1. JEconomic Development Corporation Meeting Minutes - August 23, 2016 8-23-16. df
_Jc
KENNEDALE
Kennedale Economic
Development www.ci yofi(enn Corporation rn ECONOMIC DEVELOPMENT CORPORATION
BOARD OF DIRECTORS - REGULAR MEETING
MINUTES
August 23, 2016
I. CALL TO ORDER
President Mundy called the meeting to order at 7:02 p.m.
II. ROLL CALL
Present: Michael Johnson, Adrienne Kay, Rebecca Carlton, Robert Mundy, Pat Turner, Ronald
Whitley, Mark Yeary
Absent: None
III. MINUTES APPROVAL
A. Consider approval of the minutes from the July 26, 2016 regular meeting
Motion To approve the July 26, 2016 Economic Development Corporation meeting minutes.
Action Approve, Moved By Rebecca Carlton, Seconded By Ronald Whitley.
Motion passed Unanimously
IV. REGULAR ITEMS
A. Review and accept the KEDC Financial Report for July 2016
Finance Director Krystal Crump provided an overview for the July 2016 Financial Report for
the Economic Development Corporation. She noted that tax values improved by $30,000 from
last month and that sales tax were level. Additionally, she informed the Board that all rental
agreements were current.
Motion To approve the July 2016 Finance Report for the Economic Development Corporation.
Action Approve, Moved By Adrienne Kay, Seconded By Rebecca Carlton.
Motion passed Unanimously
B. Discuss and approve FY2016-17 proposed project list and budget for recommendation to
City Council
Executive Director Bob Hart provided an update for the project list and budget of the Economic
Development Corporation; noting that the public hearing was held at the July meeting. Bob
stated that the budget includes funding for functional grants, but that does not require that the
Board has to award any grants. There were brief discussions concerning the status of some
items on the list.
Motion To approve recommendation to City Council for the FY2016-17 proposed project list
and budget for the Economic Development Corporation. Action Approve, Moved By Pat
Turner, Seconded By Mark Yeary.
Motion passed Unanimously
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 there has been no progress on the Oak Crest
Development; the sign is up at Nancy's Liquors and there are upcoming meetings scheduled
regarding the hotel. Bob continued with the TownCenter stating that they are talking with Zoe's
Furniture Company, out of North Richland Hills, regarding Building 1, and with Metro PCS for a
store location in Building 5. In closing, Bob noted that the TownCenter groundbreaking was
held on August 5th with a great turn out. Board member, Becky Carlton added that they are
working on a new appraisal for the building.
Library Director Amanda King joined the meeting to speak about the Service Corp of Retired
Executives (SCORE) program. She stated that SCORE is a group of retired executives who
provide free training to individuals to help people in their community start small
businesses. She would like to start this program in Kennedale and is seeking volunteers to
receive this training, which is a 3-6 month program. Additionally, Amanda informed the Board
that she is in the process of applying for grant funds to provide workshops, and would like a
Letter of Support from the Economic Development Board and the Chamber. She asked if
anyone would be interested in going through the program; Adrienne Kay and Becky Carlton
expressed interest.
Jack Thompson, Orasi Development provided an update on Chamber activities, noting the
TownCenter groundbreaking was a great success and that the August Lunch and Learn was
put on by the Kennedale Police Department who discussed workplace violence. He invited
everyone to attend the upcoming Connecting Cities Event, being sponsored by Walnut Creek
Country Club in Mansfield on September 13th. Additional items of interest included the
Chamber's coffee chat networking event; the September Business After Hours "Friday Night
Lights" at Kennedale High School; and the November 27th Chamber golf tournament.
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
Executive Director Hart stated that he did not have any new information to add to the items
listed on Executive Session. Executive Session was not held.
VII. RECONVENE INTO OPEN SESSION, AND TAKE ACTION NECESSARY PURSUANT TO
EXECUTIVE SESSION, IF NEEDED
Executive Session was not held; therefore, no action was necessary pursuant to the Executive
Session.
The September meeting is scheduled to be held on September 27, 2016.
VIII. ADJOURNMENT
Motion To adjourn. Action Adjourn, Moved By Michael Johnson, Seconded By Mark Yeary.
Motion passed Unanimously
The meeting was adjourned at 7:50 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: September 27, 2016
Agenda Item No: REGULAR ITEMS - A.
I. Subject:
Review and accept the KEDC Financial Report for August 2016
II. Originated by:
Finance Director, Director of Finance & IT
Bob Hart
III. Summary:
Finance Director, Krystal Crump will provide an overview of the August 2016 Kennedale Economic
Development Corporation Financial Report.
IV. Recommendation:
Approve
V. Alternative Actions:
VI. Attachments:
F1.--Fu—gust 2016 Financials 016 08 Monthly Financials. df
CITY OF KENNEDALE,TEXAS
ANNUAL PROGRAM OF SERVICES
MONTHLY FINANCIALS
ECONOMIC DEVELOPM ENT OORPORA110N RNANCIALSSUMMARY
Budget Amendment Adopted Amended
Budget Budget Change
15-4002-00-00 M M D TAX OUFTENTYEAR 48,062 35,000 13,062
15-4081-00-00 SALESTAX 350,000 370,000 (20,000)
15-4409-00-00 MISCBIANEOUSINOOME 384,120 115,000 269,120
15-5240-01-00 PRINT®SJPPLJES 3,000 5,110 2,110
15-5260-01-00 GENERALOFFICESUPPLJES 50 - (50)
15-5261-01-00 POSTAGE 50 (50)
15-5501-01-00 ADVERTISING 1,200 - (1,200)
15-5510-01-00 ASSOC DUESVPUBUCATIONS 4,020 5,320 1,300
15-5565-01-00 LEGAL Sffd/ICES 1,000 5,000 4,000
15-5570-01-00 SPEGALSflF?\/ICES 72,600 130,000 57,400
15-5580-01-00 ENGINEERNGSER\ACES 1,000 57,000 56,000
15-5595-01-00 ADM IN CHARGE-GENERAL FUND 91,196 64,796 (26,400)
15-5610-01-00 VISUALGRANT - 4,843 4,843
15-5615-01-00 FUNCT10NALGRANT 56,588 56,588
15-5800-01-00 LAND 1,274 1,274
15-5580-03-00 ENGINEERNGSER/ICES 10,000 - (10,000)
15-5847-03-00 CONSTRUCTION 80,000 - (80,000)
15-5800-04-00 LAND 50,000 18,739 (31,261)
Monthly Infomiation
TML Hail Check has been deposited for repairsto be paid for in next fiscal year.
Cash balance is positive due to TML Hail Check
Sales Taxes are projected to go over budgeted amounts
Rental Fees,MMDTax 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
ADDI11 ONAL I N FORM All ON
FUND 15-OPERATINGFUND(ALLBILLSAND REVENUEFECEIVED IN THISFUND)
FUND 19-CAPITAL BOND FUND(FEMAINING CAPITAL MONEY)
FUND 95-FESB:?\/E FUND FOR DEBT RL-QUIFEVI ENTS
"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 $ (63,992) $ 90,295
BEGINNING TEXPOOL BALANCE-FUND 15 $ 19 $ 19 $ $ 19
BEGINNING TEXPOOL BALANCE-FUND 19 $ 29,429 $ 29,444 $ 29,511 $ 29,444
BEGINNING CASH BALANCE-FUND 95 $ 119,922 $ 119,962 $ 120,097 $ 119,962
TOTAL REVENUES $ 670,895 $ 649,854 $ 114,533 $ 546,562
TOTAL EXPENDITURES $ 733,118 $ 747,597 $ 40,229 $ 653,145
CHANGE IN CASH DURING PERIOD $ (86,848) $ (97,771) $ 83,504 $ (70,599)
ENDING CASH BALANCE-FUND 15 $ 90,295 $ 17,512 $ 19,486 $ 19,486
ENDING TEXPOOL BALANCE-FUND 15 $ 19 $ 19 $ $
ENDING TEXPOOL BALANCE-FUND 19 $ 29,444 $ 4,456 $ 29,520 $ 29,520
ENDING CASH BALANCE-FUND 95 $ 119,962 $ 119,962 $ 120,115 $ 120,115
"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 $ 404,386 $ 376,091 $ 258,442 $ 132,980 $ 313,867
AD VALOREM TAXES 38,075 38,861 35,000 393 34,728 (13,062) 99.2% 272
SALES/BEVERAGE TAXES 327,074 457,222 370,000 29,391 277,625 35,209 75.0% 92,375
INVESTMENT EARNINGS 102 112 80 30 304 40 380.3% (224)
MISCELLANEOUS INCOME 45,217 57,855 115,000 76,721 112,302 (269,120) 97.7% 2,698
SURPLUS SALES/RENTALS 97,515 116,845 129,774 7,999 121,602 (4,918) 93.7% 8,172
TOTAL REVENUES $ 507,983 $ 670,895 $ 649,854 $ 114,533 $ 546,562 $(251,851) 84.17. $ 103,292
SUPPLIES 4,625 4,625 5,110 - 5,110 2,010 100.0% -
MAINTENANCE 25,928 39,375 23,592 1,339 19,436 - 82.4% 4,156
SUNDRY 223,747 243,725 353,989 34,317 294,467 123,967 83.2% 59,522
DEBT 169,796 169,796 166,374 4,573 162,201 (3,475) 97.5% 4,173
TRANSFERS 153,519 153,519 153,519 - 151,919 (0) 99.0% 1,600
CAPITAL 20,887 122,078 45,013 - 20,012 (110,874) 44.5% 25,001
TOTAL EXPENDITURES $ 598,502 $ 733,118 $ 747,597 $ 40,229 $ 653,145 $ 11,628 87.4% $ 94,452
REVENUES OVER EXPENDITURES $ (90,519) $ (62,224) $ (97,743) $ 74,304 $(106,583)
ENDING FUND BALANCE $ 313,867 $ 313,867 $ 160,699 $ 207,284 $ 207,284
ADJUSTMENTS
FUND BALANCE AS%OF EXP 52.4% 42.8% 21.5% 515.3% 31.7%
RESERVE(NO REQUIREMENT) $ - $ - $ - $ - $ -
RESERVE SURPLUS/(SHORTFALL) $ 313,867 $ 313,867 $ 160,699 $ 207,284 $ 207,284
"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 507,881 670,783 649,774 114,504 546,257 (251,891) (1) 103,517
OPERATING EXPENDITURES (444,983) (579,600) (569,078) (40,229) (501,226) (11,628) 0 (67,852)
OPERATING INCOME/(LOSS) 62,897 91,183 80,696 74,275 45,032 (263,519) (1) 35,664
NONOPERATING REVENUES/(EXPENSES)
INTEREST EARNINGS 53 57 40 3 75 36 2 (35)
TRANSFERS IN - - - - - - - -
(TRANSFEROUT) (153,519) (153,519) (153,519) - (151,919) 0 (1) (1,600)
NET OPERATING INCOME/(LOSS) (90,568) (62,279) (72,783) 74,278 (106,812) (263,483) (0) 34,029
BEGINNING FUND BALANCE $255,029 $226,740 $ 109,049 $(16,629) $164,461
ENDING FUND BALANCE(EXCLUDING OTHER FUNDS) $164,461 $164,461 $ 36,266 $ 57,649 $ 57,649
95:EDC413 RESERVE FUND $ 119,938 $ 119,977 $ 119,977 $ 120,115 $ 120,115
19:EDC413 CAPITAL BOND FUND $ 54,449 $ 4,456 $ 4,456 $ 29,520 $ 29,520
ENDING FUND BALANCE(INCLUDING OTHER FUNDS) $338,848 $288,894 $ 160,699 $207,284 $207,284
"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 % BUDGET BUDGET
CATEGORY YTD ACTUAL ADOPTED MONTH YTD CHANGE USED REMAINING
BEGINNING FUND BALANCE $ 255,029 $ 226,740 $ 109,049 $ (16,629) $ 164,461
AD VALOREM TAXES 38,075 38,861 35,000 393 34,728 (13,062) 99.2% 272
SALES/BEVERAGE TAXES 327,074 457,222 370,000 29,391 277,625 35,209 75.0% 92,375
INVESTMENT EARNINGS 53 57 40 3 75 36 187.6% (35)
MISCELLANEOUS INCOME 45,217 57,855 115,000 76,721 112,302 (269,120) 97.7% 2,698
SURPLUS SALES/RENTALS 97,515 116,845 129,774 7,999 121,602 (4,918) 93.7% 8,172
TOTAL REVENUES $ 507,934 $ 670,840 $ 649,814 $ 114,507 $ 546,333 $(251,855) 84.1% $ 103,481
SUPPLIES 4,625 4,625 5,110 - 5,110 2,010 100.0% -
MAINTENANCE 25,928 39,375 23,592 1,339 19,436 - 82.4% 4,156
SUNDRY 223,747 243,725 353,989 34,317 294,467 123,967 83.2% 59,522
DEBT 169,796 169,796 166,374 4,573 162,201 (3,475) 97.5% 4,173
TRANSFERS 153,519 153,519 153,519 - 151,919 (0) 99.0% 1,600
CAPITAL 20,887 122,078 20,013 - 20,012 (110,874) 100.0% 1
TOTAL EXPENDITURES $ 598,502 $ 733,118 $ 722,597 $ 40,229 $ 653,145 $ 11,628 90.47. $ 69,452
REVENUES OVER EXPENDITURES $ (90,568) $ (62,279) $ (72,783) $ 74,278 $(106,812)
ENDING FUND BALANCE $ 164,461 $ 164,461 $ 36,266 $ 57,649 $ 57,649
ADJUSTMENTS
FUND BALANCE AS%OF EXP 27.57. 22.4% 5.057. 143.3% 8.8%
RESERVE(NO REQUIREMENT) $ - $ - $ - $ - $ -
RESERVE SURPLUS/(SHORTFALL) $ 164,461 $ 164,461 $ 36,266 $ 57,649 $ 57,649
"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 V.OF BUDGET BUDGET
ACCOUNT ACCOUNT NAME YTD ACTUAL ADOPTED MONTH YTD CHANGE USED REMAINING
4002-00-00 MMD TAX-CURRENT YEAR 38,075 38,861 35,000 393 34,728 (13,062) 99.2% 272
AD VALOREM TAXES $ 38,075 $ 38,861 $ 35,000 $ 393 $ 34,728 $ (13,062) 99.27. $ 272
4081-00-00 SALES TAX 327,074 457,222 370,000 29,391 277,625 35,209 75.0% 92,375
SALES/BEVERAGE TAXES $ 327,074 $ 457,222 $ 370,000 $ 29,391 $ 277,625 $ 35,209 75.07. $ 92,375
4401-00-00 INVESTMENT INCOME 53 57 40 3 75 36 187.6% (35)
INVESTMENT EARNINGS $ 53 $ 57 $ 40 $ 3 $ 75 $ 36 187.6% $ (35)
4409-00-00 MISCELLANEOUS INCOME 45,217 57,855 115,000 76,721 112,302 (269,120) 97.7% 2,698
MISCELLANEOUS INCOME $ 45,217 $ 57,855 $ 115,000 $ 76,721 $ 112,302 $ (269,120) 97.77. $ 2,698
4805-00-00 RENTAL FEES-SHOPPING CENTER 97,271 116,477 121,274 7,938 119,450 (4,918) 98.5% 1,824
4806-00-00 RENTAL INSURANCE 244 368 8,500 60 2,152 25.3% 6,348
SURPLUS SALES/RENTALS $ 97,515 $ 116,845 $ 129,774 $ 7,999 $ 121,602 $ (4,918) 93.7% $ 8,172
TOTAL REVENUES $ 507,934 $ 670,840 $ 649,814 $ 114,507 $ 546,333 $ (251,855) 84.1% $ 103,481
TOTAL REVENUES(EXCLUDING INTEREST/TRANSFERS) $ 507,881 $ 670,783 $ 649,774 $ 114,504 $ 546,257 $ (251,891)
10%ADMIN CHARGE-GENERAL FUND 50,788 67,078 64,977 11,450 54,626 (25,189)
"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:EDC413 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 5,110 5,110 2,110 100.0%
5260-01-00 GENERAL OFFICE SUPPLIES - - - - (50) #DIV/0!
5261-01-00 POSTAGE 120 120 - - (50) #DIV/0!
SUPPLIES $ 4,625 $ 4,625 $ 5,110 $ $ 5,110 $ 2,010 #DIV/0! $
5501-01-00 ADVERTISING 359 359 1,200 (40) 190 - 15.9% 1,010
5510-01-00 ASSOC DUES/PUBLICATIONS 4,755 4,755 5,320 - 5,356 1,300 100.7% (36)
5525-01-00 TRAINING/SEMINARS - - 250 - - 0.0% 250
5565-01-00 LEGAL SERVICES 9,700 9,700 5,000 4,712 (4,700) 94.2% 288
5567-01-00 AUDIT SERVICES 2,000 2,000 2,000 2,000 - 100.0% -
5570-01-00 SPECIAL SERVICES 84,693 82,708 130,000 18,784 97,342 42,400 74.9% 32,658
5578-01-00 TRAVEL 70 70 100 - - - 0.0% 100
5580-01-00 ENGINEERING SERVICES 9,135 17,038 57,000 1,460 55,070 46,000 96.6% 1,930
5595-01-00 ADMIN CHARGE-GENERAL FUND 50,588 60,557 64,796 11,450 52,710 (20,064) 81.3% 12,086
5610-01-00 VISUAL GRANT - - 4,843 - 4,843 4,843 0.0% (0)
5615-01-00 FUNCTIONAL GRANT 37,744 39,097 56,588 917 48,964 18,844 0.0% 7,624
SUNDRY $199,044 $216,284 $ 327,097 $ 32,570 $271,187 $ 88,623 82.97o $ 55,910
5800-01-00 LAND 20,887 20,887 1,274 - 1,274 (19,613) 0.0% 0
CAPITAL $ 20,887 $ 20,887 $ 1,274 $ - $ 1,274 $(19,613) 0.07o $ 0
TOTAL EXPENDITURES $224,556 $241,795 $ 333,481 $ 32,570 $277,570 $ 71,020 83.27o $ 55,911
"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 17,024 17,024 15,798 1,377 14,562 (1,226) 92.2% 1,236
5646-01-03 2011 $1.7M TX LEVERAGE-PRI 37,147 37,147 38,373 3,196 35,504 1,226 92.5% 2,869
DEBT $169,796 $169,796 $ 166,374 $ 4,573 $162,201 $ (3,475) 97.57o $ 4,173
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 $323,315 $323,315 $ 319,893 $ 4,573 $314,120 $ (3,475) 98.27. $ 5,773
"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 1,339 19,436 82.4% 4,156
MAINTENANCE $ 25,928 $ 39,375 $ 23,592 $ 1,339 $ 19,436 $ 82.47o $ 4,156
5530-02-00 ELECTRIC SERVICES 4,380 5,297 5,000 631 4,883 97.7% 117
5545-02-00 INSURANCE-PROPERTY 6,347 6,347 8,500 - 6,121 72.0% 2,379
5570-02-00 SPECIAL SERVICES 13,976 15,797 13,392 1,116 12,276 91.7% 1,116
SUNDRY $ 24,703 $ 27,441 $ 26,892 $ 1,747 $ 23,280 $ 86.6% $ 3,612
TOTAL EXPENDITURES $ 50,631 $ 66,816 $ 50,484 $ 3,086 $ 42,716 $ 84.67o $ 7,768
"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 #DIV/0!
SUNDRY $ $ $ $ $ $ #DIV/0! $
5847-03-00 CONSTRUCTION #DIV/0!
CAPITAL $ $ $ $ $ $ #DIV/0! $
$ $ $ $ $ $ #DIV/0! $
"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 18,739 18,739 (91,261) 100.0% 0
CAPITAL $ $ 101,192 $ 18,739 $ $ 18,739 $ (91,261) 100.07. $ 0
$ $ 101,192 $ 18,739 $ $ 18,739 $ (91,261) 100.0% $ 0
"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 $ 29,431 $ 29,429 $ 29,441 $ 29,511 $ 29,444
INVESTMENT EARNINGS 13 15 15 9 76 (5) 505.6% (61)
TOTAL REVENUES $ 13 $ 15 $ 15 $ 9 $ 76 $ (5) 505.6% $ (61)
CAPITAL - - 25,000 - - - 0.0% 25,000
TOTAL EXPENDITURES $ - $ - $ 25,000 $ - $ - $ 0.0% $ 25,000
REVENUES OVER EXPENDITURES $ 13 $ 15 $ (24,985) $ 9 $ 76
ENDING FUND BALANCE $ 29,444 $ 29,444 $ 4,456 $ 29,520 $ 29,520
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 $ 29,520 $ 29,520
"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 13 15 15 9 76 (5) 505.6% (61)
INVESTMENT EARNINGS $ 13 $ 15 $ 15 $ 9 $ 76 $ (5) 505.67o $ (61)
TOTAL REVENUES $ 13 $ 15 $ 15 $ 9 $ 76 $ (5) 505.67o $ (61)
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 $ 119,926 $ 119,922 $ 119,952 $ 120,097 $ 119,962
INVESTMENT EARNINGS 36 40 25 17 153 9 613.4% (128)
TOTAL REVENUES $ 36 $ 40 $ 25 $ 17 $ 153 $ 9 613.47. $ (128)
TOTAL EXPENDITURES $ - $ - $ - $ - $ - $ 0.0% $
REVENUES OVER EXPENDITURES $ 36 $ 40 $ 25 $ 17 $ 153
ENDING FUND BALANCE $ 119,962 $ 119,962 $ 119,977 $ 120,115 $ 120,115
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 $ 7,509 $ 7,509
"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 36 40 25 17 153 9 613.4% (128)
INVESTMENT EARNINGS $ 36 $ 40 $ 25 $ 17 $ 153 $ 9 613.476 $ (128)
TOTAL REVENUES $ 36 $ 40 $ 25 $ 17 $ 153 $ 9 613.476 $ (128)
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"
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KENNEDALE
Kennedale Economic
Development Corporation
www.cityofkennedale.com
STAFF REPORT TO THE BOARD OF DIRECTORS
Date: September 27, 2016
Agenda Item No: REGULAR ITEMS - B.
I. Subject:
Authorize President to execute documentation related to buildings 5, 6, and 7 of the TownCenter;
including, but not limited to Deed of Trust and Security Agreement, Certificate of Non-Foreign Status,
Statute of Fraud Notice, Agreement for Ingress-Egress and Parking Easement, Loan Assumption
Agreement and Assignment Agreement
II. Originated by:
III. Summary:
IV. Recommendation:
V. Alternative Actions:
VI. Attachments:
B
KENNEDALE
Kennedale Economic
Development Corporation
www.cityofkennedale.com
STAFF REPORT TO THE BOARD OF DIRECTORS
Date: September 27, 2016
Agenda Item No: STAFF ANNOUNCEMENTS/REPORTS - A.
I. Subject:
Oak Crest Development
B. TownCenter
C. 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: September 27, 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: