Loading...
2017_01.24 EDC Packet ic KENNEDALE Kennedale Economic Development Corporation www.cityofkennedale.com ECONOMIC DEVELOPMENT CORPORATION AGENDA BOARD OF DIRECTORS - REGULAR MEETING January 24, 2017 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 November 22, 2016 regular meeting IV. REGULAR ITEMS A. Review and accept the KEDC Financial Report for November 2016 B. Consider Approval of Hotel Occupancy Agreement C. Project Review V. 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. Oak Crest Redevelopment B. The Economic Development Corporation will meet in closed session pursuant to Section 551.074 of the Texas Government Code to deliberate the appointment, employment, evaluation, reassignment, duties, discipline, or dismissal of a public officer or employee. 1. Discuss selection of and reassignment of duties for an Interim Executive Director for the Economic Development Corporation VI. RECONVENE INTO OPEN SESSION,AND TAKE ACTION NECESSARY PURSUANT TO EXECUTIVE SESSION, IF NEEDED A. Appoint an Interim Executive Director for the Economic Development Corporation B. Consider approval of three hospitality related contracts involving a hotel C. Consider approval of contract to sell a portion of Oak Crest land VII.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 January 24, 2017, 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. 0��L llw Leslie Galloway, City 38,6cretary 405 Municipal Drive, Kennedale, TX 76060 1 Telephone: 817.985.2102 1 Fax: 817-478-7169 ic KENNEDALE Kennedale Economic Development Corporation www.cityofkennedale.com STAFF REPORT TO THE BOARD OF DIRECTORS Date: January 24, 2017 Agenda Item No: MINUTES APPROVAL - A. I. Subject: Consider approval of the minutes from the November 22, 2016 regular meeting II. Originated by: III. Summary: Minutes are prepared by the Deputy City Secretary and ready for approval. IV. Recommendation: Approve V. Alternative Actions: VI. Attachments: 1. JEconomic Development Corporation Meeting Minutes - November 22, 2016 11-22-16.pdf _)c KENNEDALE Kennedale Economic Development www.ci yofi(enn Corporation rn ECONOMIC DEVELOPMENT CORPORATION BOARD OF DIRECTORS - REGULAR MEETING MINUTES November 22, 2016 I. CALL TO ORDER Vice-President Pat Turner called the meeting to order at 7:09 p.m. II. ROLL CALL Present: Rebecca Carlton, Pat Turner, Ronald Whitley, Mark Yeary Absent: Michael Johnson, Adrienne Kay, Robert Mundy III. MINUTES APPROVAL A. Consider approval of the minutes from the November 1, 2016 regular meeting Motion To approve the November 1, 2016 Economic Development Corporation meeting minutes. Action Approve, Moved By Mark Yeary, Seconded By Ronald Whitley. Motion passed Unanimously IV. REGULAR ITEMS A. Review and accept the KEDC Financial Report for October 2016 Jack Thompson, Orasi Development/Kennedale Chamber was available to answer questions regarding the October Economic Development Corporation Financial Report. Motion To approve the October 2016 Finance Report for the Economic Development Corporation. Action Approve, Moved By Rebecca Carlton, Seconded By Mark Yeary. Motion passed Unanimously B. Consider electing an EDC President and Vice President for 2016-2017. The Economic Development Corporation bylaws require that a President and Vice President be elected on an annual basis. Motion To reappoint Robert Mundy as Board President. Action Approve, Moved By Mark Yeary, Seconded By Ronald Whitley. Motion passed Unanimously Motion To reappoint Pat Turner as Board Vice- President. Action Approve, Moved By Ronald Whitley, Seconded By Rebecca Carlton. Motion passed Unanimously V. STAFF ANNOUNCEMENTS/REPORTS A. TownCenter B. Chamber of Commerce Report Jack Thompson, Orasi Development/Kennedale Chamber reported on ongoing projects for Director Bob Hart. Jack informed the Board that TownCenter is moving along, with construction underway for buildings six and seven; noting that the project is anticipated to be complete around April/May 2017. Additionally, he stated that bathrooms were installed in building 1 in the small space next to Dollar General; and the electrical was also sub-divided for future lease ability. Mark Yeary questioned if the City anticipated any negative impact to the Kennedale Dollar General in lieu of the new store opening down the road. Jack reported that the Chamber had a very busy month; they held their annual golf tournament with 109 players. He noted that the weather was rainy and attendance was low; however, they still netted $25,000 on the event. Jack stated that the November Chamber Luncheon had high attendance for speaker, Congressman Joe Barton. In closing, he informed the Board that their November Coffee Chat was the last event on their schedule for 2016. VI. EXECUTIVE SESSION Vice-President Pat Turner recessed into executive session at 7:26 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. Hospitality Project 2. Oak Crest Redevelopment VII. RECONVENE INTO OPEN SESSION, AND TAKE ACTION NECESSARY PURSUANT TO EXECUTIVE SESSION, IF NEEDED Vice-President Pat Turner reconvened into open session at 7:48 p.m. There was action concerning the authorization to move forward on the hotel real estate contract and developer agreement with Karmali Holdings, Inc. Motion To authorize the Executive Director to move forward on the real estate contract and developer agreement with Karmali Holdings, Inc. Action Approve, Moved By Ronald Whitley, Seconded By Mark Yeary. Motion passed Unanimously The Board agreed to meet at their regularly scheduled meeting, December 27, 2016, only if necessary. VIII. ADJOURNMENT Motion To adjourn. Action Adjourn, Moved By Rebecca Carlton, Seconded By Ronald Whitley. Motion passed Unanimously The meeting was adjourned at 7:53 p.m. APPROVED: ATTEST: President Robert Mundy Deputy City Secretary Kathy E. Moore ic KENNEDALE Kennedale Economic Development Corporation www.cityofkennedale.com STAFF REPORT TO THE BOARD OF DIRECTORS Date: January 24, 2017 Agenda Item No: REGULAR ITEMS - A. I. Subject: Review and accept the KEDC Financial Report for November and December 2016 II. Originated by: Finance Director, Director of Finance & IT Bob Hart III. Summary: Finance Director, Krystal Crump will provide an overview of the November and December 2016 Kennedale Economic Development Corporation Financial Report. IV. Recommendation: Approve V. Alternative Actions: VI. Attachments: 1. INovember 2016 Financials k016 11 Monthly Financials. df P. December 2016 Financials P016 12 Monthly Financials. df CITY OF KENNEDALE ANNUAL PROGRAM OF SERVICES EDC CASH POSITION NOVEMBER FY15-16 FYI 6-17 CURRENT FYI 16-17 CATEGORY ACTUAL ADOPTED MONTH YTD BEGINNING CASH BALANCE - FUND 15 $ 90,295 $ 45,406 $ 50,800 $ 42,406 BEGINNING TEXPOOL BALANCE - FUND 15 $ 19 $ - $ - $ - BEGINNING TEXPOOL BALANCE - FUND 19 $ 29,444 $ 29,529 $ 29,539 $ 29,529 BEGINNING CASH BALANCE - FUND 95 $ 119,962 $ 120,132 $ 120,149 $ 120,132 TOTAL REVENUES $ 627,490 $ 933,227 $ 11,034 $ 48,935 TOTAL EXPENDITURES $ 718,004 $ 803,880 $ 51,418 $ 108,701 CHANGE IN CASH DURING PERIOD $ (44,653) $ 200,099 $ (40,749) $ (32,328) ENDING CASH BALANCE - FUND 15 $ 45,406 $ 270,559 $ 10,024 $ 10,024 ENDING TEXPOOL BALANCE - FUND 15 $ - $ 19 $ - $ - ENDING TEXPOOL BALANCE - FUND 19 $ 29,529 $ 4,456 $ 29,549 $ 29,549 ENDING CASH BALANCE - FUND 95 $ 120,132 $ 120,132 $ 120,166 $ 120,166 "EXEMPLYIFYING EXCELLENCE" CITY OF KENNEDALE ANNUAL PROGRAM OF SERVICES NOVEMBER COMBINED EDC4B FUNDS SUMMARY FY15-16 FY15-16 FY16-17 FY16-17 CURRENT FY16-17 CY-PY %OFPYBUDGET %OFCYBUDGET BUDGET CATEGORY YTD ACTUAL ADOPTED AMENDED MONTH YTD CHANGE USED USED REMAINING BEGINNING FUND BALANCE $ 313,866 $ 313,866 $ 248,862 $ 223,530 $ 204,123 $223,522 AD VALOREM TAXES 1,573 34,335 48,462 48,462 393 787 400 4.6% 1.6% 47,675 SALES/BEVERAGE TAXES 314 376,545 349,351 349,351 161 322 (649) 0.1% 0.1% 349,029 INVESTMENT EARNINGS 18 333 260 260 32 64 180 5.4% 24.7% 196 MISCELLANEOUS INCOME 3,389 115,841 435,796 435,796 2,450 31,765 51,676 2.9% 7.3% 404,031 SURPLUS SALES/RENTALS 38,661 100,606 99,358 99,358 7,999 15,997 (30,416) 38.4% 16.1% 83,361 TOTAL REVENUES $ 43,955 $ 627,660 $ 933,227 $ 933,227 $ 11,034 $ 48,935 $ 21,191 7.0% 5.2% $ 884,292 SUPPLIES - 5,110 3,100 3,100 - - - 0.0% 0.0% 3,100 MAINTENANCE 1,518 19,709 95,403 95,403 1,570 4,356 71,811 7.7% 4.6% 91,047 SUNDRY 24,827 353,786 291,959 291,959 10,366 30,965 91,701 7.0% 10.6% 260,994 DEBT 44,576 166,773 168,600 168,600 4,573 38,471 2,226 26.7% 22.8% 130,129 TRANSFERS 35,959 151,919 154,819 154,819 34,909 34,909 1,300 23.7% 22.5% 119,909 CAPITAL - 20,707 90,000 90,000 - - (75,000) 0.0% 0.0% 90,000 TOTAL EXPENDITURES $ 106,881 $ 718,004 $ 803,880 $ 803,880 $ 51,418 $108,701 $ 92,038 14.9% 13.5% $ 695,180 REVENUES OVER EXPENDITURES $ (62,926) $ (90,344) $ 129,347 $ 129,347 $ (40,384) $ (59,766) ENDING FUND BALANCE $ 250,940 $ 223,522 $ 378,209 $ 352,877 $ 163,740 $163,756 FUND BALANCE AS%OFEXP 234.8% 31.1% 47.0% 43.9% 318.4% 150.6% RESERVE($115,000)REQUIREMENT) $ 115,000 $ 115,000 $ 115,000 $ 115,000 $ 115,000 $ 115,000 RESERVE SURPLUS/(SHORTFALL) $ 135,940 $ 108,522 $ 263,209 $ 237,877 $ 48,740 $ 48,756 "EXEMPLYIFYING EXCELLENCE" CITY OF KENNEDALE ANNUAL PROGRAM OF SERVICES NOVEMBER 15:EDC4BFUND FY15-16 FY15-16 FY16-17 FY16-17 CURRENT FY16-17 CY-PY %OFPYBUDGET %OFCYBUDGET BUDGET CATEGORY YTD ACTUAL ADOPTED AMENDED MONTH YTD CHANGE USED USED REMAINING BEGINNING FUND BALANCE $ 164,460 $ 164,460 $ 99,198 $ 73,861 $ 54,452 $ 73,861 AD VALOREM TAXES 1,573 34,335 48,462 48,462 393 787 400 4.6% 1.6% 47,675 SALES/BEVERAGE TAXES 314 376,545 349,351 349,351 161 322 (649) 0.1% 0.1% 349,029 INVESTMENT EARNINGS 4 78 40 40 4 11 - 5.5% 26.8% 29 MISCELLANEOUS INCOME 3,389 115,841 435,796 435,796 2,450 31,765 51,676 2.9% 7.3% 404,031 SURPLUS SALES/RENTALS 38,661 100,606 99,358 99,358 7,999 15,997 (30,416) 38.4% 16.1% 83,361 TOTAL REVENUES $ 43,941 $ 627,405 $ 933,007 $ 933,007 $ 11,007 $ 48,882 $ 21,011 7.0% 5.2% $ 884,126 SUPPLIES - 5,110 3,100 3,100 - - - 0.0% 0.0% 3,100 MAINTENANCE 1,518 19,709 95,403 95,403 1,570 4,356 71,811 7.7% 4.6% 91,047 SUNDRY 24,827 353,786 291,959 291,959 10,366 30,965 91,701 7.0% 10.6% 260,994 DEBT 44,576 166,773 168,600 168,600 4,573 38,471 2,226 26.7% 22.8% 130,129 TRANSFERS 35,959 151,919 154,819 154,819 34,909 34,909 1,300 23.7% 22.5% 119,909 CAPITAL - 20,707 90,000 90,000 - - (50,000) 0.0% 0.0% 90,000 TOTAL EXPENDITURES $ 106,881 $ 718,004 803,880 $ 803,880 $ 51,418 $108,701 $ 117,038 14.9% 13.5% $ 695,180 REVENUES OVER EXPENDITURES $ (62,940) $ (90,599) $ 129,127 $ 129,127 $ (40,411) $ (59,819) ENDING FUND BALANCE $ 101,520 $ 73,861 $ 228,324 $ 202,987 $ 14,041 $ 14,041 FUND BALANCE AS%OFEXP 95.0% 10.3% 28.4% 25.3% 27.3% 12.9% RESERVE(NO REQUIREMENT) $ - $ - $ - $ - $ - $ - RESERVE SURPLUS/(SHORTFALL) $ 101,520 $ 73,861 $ 228,324 $ 202,987 $ 14,041 $ 14,041 "EXEMPLYIFYING EXCELLENCE" CITY OF KENNEDALE ANNUAL PROGRAM OF SERVICES NOVEMBER 15:EDC4BFUND FY15-16 FY15-16 FY16-17 FY16-17 CURRENT FY16-17 CY-PY %OFPYBUDGET %OFCYBUDGET BUDGET ACCOUNT ACCOUNT NAME YTD ACTUAL ADOPTED AMENDED MONTH YTD CHANGE USED USED REMAINING 4002-00-00 MMDTAX-CURRENTYEAR 1,573 34,335 48,462 48,462 393 787 400 4.6% 1.6% 47,675 ADVALOREM TAXES $ 1,573 $ 34,335 $ 48,462 $ 48,462 $ 393 $ 787 $ 400 4.6% 1.6% $ 47,675 4081-00-00 SALES TAX 314 376,545 349,351 349,351 161 322 (649) 0.1% 0.1% 349,029 SALES/BEVERAGE TAXES $ 314 $376,545 $ 349,351 $349,351 $ 161 $ 322 $ (649) 0.1% 0.1% $ 349,029 4401-00-00 INVESTMENT INCOME 4 78 40 40 4 11 - 5.5% 26.8% 29 INVESTMENT EARNINGS $ 4 $ 78 $ 40 $ 40 $ 4 $ 11 $ - 5.5% 26.8% $ 29 4409-00-00 MISCELLANEOUS INCOME 3,389 115,841 435,796 2,450 31,765 51,676 2.9% 7.3% 404,031 MISCELLANEOUS INCOME $ 3,389 $115,841 S 4352796 $435,796 $ 2,450 $31,765 $ 51,676 2.9% 7.3% $ 404,031 4805-00-00 RENTAL FEES-SHOPPING CENTER 38,412 98,580 °,;6i_ 98,612 7,938 15,877 (22,662) 39.0% 16.1% 82,735 4806-00-00 RENTAL INSURANCE 248 2,026 746 60 120 (7,754) 12.3% 16.1% 626 SURPLUS SALES/RENTALS $ 38,661 $100,606 99,358 $ 99,358 $ 7,999 $15,997 $ (30,416) 38.4% 16.1% $ 83,361 TOTAL REVENUES $ 43,941 $627,405 5 933,007 $933,007 $ 11,007 $48,882 $ 21,011 7.0% 5.2% $ 884,126 TOTAL REVENUES(EXCLUDING INTEREST/TRANSFERS) $ 43,937 $627,327 $ 932,9-7 $932,967 $ 11,003 $48,871 $ 21,011 10%ADMIN CHARGE-GENERAL FUND �_,�. x,197 2,101 "EXEMPLYIFYING EXCELLENCE" CITY OF KENNEDALE ANNUAL PROGRAM OF SERVICES NOVEMBER 15:EDC4BFUND 01:ADMINISTRATION FY15-16 FY15-16 FY16-17 FY16-17 CURRENT FY16-17 CY-PY %OFPYBUDGET %OFCYBUDGET BUDGET ACCOUNT ACCOUNT NAME YTD ACTUAL ADOPTED AMENDED MONTH YTD CHANGE USED USED REMAINING 5240-01-00 PRINTED SUPPLIES 5,110 3,000 3,000 0.0% 0.0% 31000 5260-01-00 GENERAL OFFICE SUPPLIES - 50 50 0.0% 0.0% 50 5261-01-00 POSTAGE - 50 50 0.0% 0.0% 50 SUPPLIES $ $ 5,110 $ 3,100 $ 3,100 $ $ $ - 0.0% 0.0% $ 3,100 5501-01-00 ADVERTISING 210 2,200 2,200 1,000 0.0% 0.0% 2,200 5510-01-00 ASSOCDUES/PUBLICATIONS 295 5,356 5,320 5,320 1,300 5.5% 0.0% 5,320 5525-01-00 TRAINING/SEMINARS - 525 250 250 - 0.0% 0.0% 250 5565-01-00 LEGAL SERVICES 5,662 7,000 7,000 500 500 6,000 0.0% 7.1% 6,500 5567-01-00 AUDITSERVICES 2,000 2,250 2,250 - - 250 0.0% 0.0% 2,250 5570-01-00 SPECIAL SERVICES 12,300 140,283 68,650 68,650 5,700 14,400 (3,950) 8.8% 21.0% 54,250 5578-01-00 TRAVEL - - 100 100 - - - 0.0% 0.0% 100 5580-01-00 ENGINEERING SERVICES - 55,070 6,000 6,000 - - 5,000 0.0% 0.0% 6,000 5595-01-00 ADMIN CHARGE-GENERAL FUND 3,367 56,796 93,297 93,297 1,100 4,887 2,101 5.9% 5.2% 88,410 5610-01-00 VISUAL GRANT - 11,122 50,000 50,000 - - 50,000 0.0% 0.0% 50,000 5615-01-00 FUNCTIONAL GRANT - 51,850 32,000 32,000 1,543 1,543 32,000 0.0% 4.8% 30,457 SUNDRY $ 15,962 $ 328,873 S 267,067 $ 267,067 $ 8,843 $21,330 $ 93,701 4.9% 8.0% $ 165,280 5800-01-00 LAND - 1,968 - - - - - 0.0% 0.0% - CAPITAL $ - $ 1,968 i - $ - $ - $ - $ - 0.0% #DIV/0! $ - TOTAL EXPENDITURES $ 15,962 $ 335,951 $ 270,167 $ 270,167 $ 8,843 $21,330 $ 93,701 4.8% 7.9% $ 414,117 "EXEMPLYIFYING EXCELLENCE" CITY OF KENNEDALE ANNUAL PROGRAM OF SERVICES NOVEMBER 15:EDC4BFUND 01:ADMINISTRATION 03:DEBT SERVICE FY15-16 FY15-16 FY16-17 FY16-17 CURRENT FY16-17 CY-PY %OFPYBUDGET %OFCYBUDGET BUDGET ACCOUNT ACCOUNTNAME YTD ACTUAL ADOPTED AMENDED MONTH YTD CHANGE USED USED REMAINING 5643-01-03 2007$1.2M TAX BOND-INTEREST 31,034 62,135 58,728 58,728 29,325 (3,476) 49.9% 49.9% 29,402 5644-01-03 2007$1.2M TAX BOND-PRINCIPAL - 50,000 55,000 55,000 - 5,000 0.0% 0.0% 55,000 5645-01-03 2011$1.7M TX LEVERAGE-INT 3,962 15,930 15,672 15,672 1,349 2,707 (126) 24.9% 17.3% 12,966 5646-01-03 2011$1.7M TX LEVERAGE-PRI 9,581 38,709 39,200 39,200 3,224 6,439 827 24.8% 16.4% 32,761 DEBT $ 44,576 $ 166,773 $ 168,600 $ 168,600 $ 4,573 $38,471 $ 2,226 26.7% 22.8% $ 130,129 5702-01-03 TRANSFER OUT-DEBT SERVICE FUND 35,959 151,919 154,819 154,819 34,909 34,909 1,300 23.7% 22.5% 119,909 TRANSFER $ 35,959 $ 151,919 $ 154,819 $ 154,819 $ 34,909 $34,909 $ 1,300 23.7% 22.5% $ 119,909 TOTAL EXPENDITURES $ 80,536 $ 318,692 $ 323,419 $ 323,419 $ 39,482 $73,380 $ 3,526 25.3% 22.7% $ 250,039 "EXEMPLYIFYING EXCELLENCE" CITY OF KENNEDALE ANNUAL PROGRAM OF SERVICES NOVEMBER 15:EDC4BFUND 02:TOWN SHOPPING CENTER FY15-16 FY15-16 "'Y16-17 FY16-17 CURRENT FY16-17 CY-PY %OFPYBUDGET %OFCYBUDGET BUDGET ACCOUNT ACCOUNT NAME YTD ACTUAL ADOPTED AMENDED MONTH YTD CHANGE USED USED REMAINING 5403-02-00 BUILDING MAINTENANCE 1,518 19,709 +03 95,403 1,570 4,356 71,811 7.7% 4.6% 91,047 MAINTENANCE $ 1,518 $ 19,709 $ 95,403 $ 95,403 $ 1,570 $ 4,356 $ 71,811 7.7% 4.6% $ 91,047 5530-02-00 ELECTRIC SERVICES 612 5,401 GGO 5,000 407 896 - 11.3% 17.9% 4,104 5545-02-00 INSURANCE-PROPERTY 6,121 6,121 6,500 6,500 - 6,507 (2,000) 100.0% 100.1% (7) 5570-02-00 SPECIAL SERVICES 2,132 13,392 39i 13,392 1,116 2,232 15.9% 16.7% 11,160 SUNDRY $ 8,865 $ 24,914 24,892 $ 24,892 $ 1,523 $ 9,635 $ (2,000) 35.6% 38.7% $ 15,257 TOTAL EXPENDITURES $ 10,383 $ 44,622 12:1;295 $ 120,295 $ 3,093 $ 13,991 $ 69,811 23.3% 11.6% $ 106,304 "EXEMPLYIFYING EXCELLENCE" CITY OF KENNEDALE ANNUAL PROGRAM OF SERVICES NOVEMBER 15:EDC4BFUND 03:TOWN CENTER REDEVELOPMENT FY15-16 FY15-16 FY16-17 FY16-17 CURRENT FY16-17 CY-PY %OFPYBUDGET %OFCYBUDGET BUDGET ACCOUNT ACCOUNT NAME YTD ACTUAL ADOPTED AMENDED MONTH YTD CHANGE USED USED REMAINING 5580-03-00 ENGINEERING SERVICES 10,000 10,000 0.0% 0.0% 10,000 5847-03-00 CONSTRUCTION 80,000 80,000 0.0% 0.0% 80,000 CAPITAL $ $ $ 90,000 $ 90,000 $ $ $ 0.0% 0.0% $ 90,000 TOTAL EXPENDITURES $ $ $ 90,000 $ 90,000 $ $ $ 0.0% 0.0% $ 90,000 "EXEMPLYIFYING EXCELLENCE" CITY OF KENNEDALE ANNUAL PROGRAM OF SERVICES NOVEMBER 15:EDC4BFUND 04:TEXAS LEVERAGE PROGRAM FY15-16 FY15-16 FYlC=17 FY16-17 CURRENT FY16-17 CY-PY %OFPYBUDGET %OFCYBUDGET BUDGET ACCOUNT ACCOUNT NAME YTD ACTUAL ADOPTED AMENDED MONTH YTD CHANGE USED USED REMAINING 5800-04-00 LAND 18,739 (50,000) 0.0% 0.0% CAPITAL $ $ 18,739 $ $ $ $ (50,000) 0.0% 0.0% $ TOTAL EXPENDITURES $ $ 18,739 $ $ $ $ (50,000) 0.0% 0.0% $ "EXEMPLYIFYING EXCELLENCE" CITY OF KENNEDALE ANNUAL PROGRAM OF SERVICES NOVEMBER 19:EDC413 CAPITAL BOND FUND FY15-16 FY15-16 FY16-17 CURRENT FY16-17 CY-PY %OFPYBUDGET %OFCYBUDGET BUDGET CATEGORY YTD ACTUAL AMENDED MONTH YTD CHANGE USED USED REMAINING BEGINNING FUND BALANCE $ 29,444 $ 29,444 $ 29,529 $ 29,539 $29,529 INVESTMENT EARNINGS 5 85 60 10 19 45 6.10/6 32.20/6 41 TOTAL REVENUES $ 5 $ 85 $ 60 $ 10 $ 19 $ 45 6.1% 32.2% $ 41 CAPITAL - - - - - (25,000) 0.0% 0.00/6 - TOTAL EXPENDITURES $ - $ - $ - $ - $ - $ (25,000) 0.0% 0.0% $ REVENUES OVER EXPENDITURES $ 5 $ 85 $ 60 $ 10 $ 19 ENDING FUND BALANCE $ 29,449 $ 29,529 $ 29,589 $ 29,548 $29,548 FUND BALANCE AS% EXP N/A N/A N/A N/A N/A RESERVE(NO REQUIREMENT) $ - $ - $ - $ - $ - RESERVE SURPLUS/(SHORTFALL) $ 29,449 $ 29,529 $ 29,589 $ 29,548 $29,548 "EXEMPLYIFYING EXCELLENCE" CITY OF KENNEDALE ANNUAL PROGRAM OF SERVICES NOVEMBER 19:EDC4B CAPITAL BOND FUND FY15-16 FY15-16 FY16-17 FY16-17 CURRENT FY16-17 CY-PY %OFPYBUDGET %OFCYBUDGET BUDGET ACCOUNT ACCOUNT NAME YTD ACTUAL ADOPTED AMENDED MONTH YTD CHANGE USED USED REMAINING 4401-00-00 INVESTMENT INCOME 5 85 60 60 10 19 45 6.1% 32.2% 41 INVESTMENT EARNINGS $ 5 $ 85 $ 6t3 $ 60 $ 10 $ 19 $ 45 6.1% 32.2% $ 41 TOTAL REVENUES $ 5 $ 85 S 60 $ 60 $ 10 $ 19 $ 45 6.1% 32.2% $ 41 19:EDC4B CAPITAL BOND FUND 01:TOWN CENTER REDEVELOPMENT FY15-16 FY15-16 F';` 6.17 FY16-17 CURRENT FY16-17 CY-PY %OFPYBUDGET %OFCYBUDGET BUDGET ACCOUNT ACCOUNT NAME YTD ACTUAL AD0'1"E0 AMENDED MONTH YTD CHANGE USED USED REMAINING 5847-01-00 CONSTRUCTION (25,000) 0.0% 0.0% CAPITAL $ $ $ $ $ $ (25,000) 0.0% 0.0% $ TOTAL EXPENDITURES $ $ S $ $ $ $ (25,000) 0.0% 0.0% $ "EXEMPLYIFYING EXCELLENCE" CITY OF KENNEDALE ANNUAL PROGRAM OF SERVICES NOVEMBER 95:EDC4B RESERVE FUND FY15-16 FY15-16 FY16-17 FY16-17 CURRENT FY16-17 CY-PY %OFPYBUDGET %OFCYBUDGET BUDGET CATEGORY YTD ACTUAL ADOPTED AMENDED MONTH YTD CHANGE USED USED REMAINING BEGINNING FUND BALANCE $ 119,962 $ 119,962 $ 120,141 $ 120,141 $ 120,132 $ 120,132 INVESTMENT EARNINGS 9 170 160 160 17 34 135 5.1% 21.4% 126 TOTAL REVENUES $ 9 $ 170 $ 160 $ 160 $ 17 $ 34 $ 135 5.1% 21.4% $ 126 TOTAL EXPENDITURES $ - $ - $ - $ - $ - $ - $ - 0.0% 0.0% $ - REVENUES OVER EXPENDITURES $ 9 $ 170 $ 160 $ 160 $ 17 $ 34 ENDING FUND BALANCE $ 119,971 $ 120,132 $ 120,301 $ 120,301 $ 120,150 $ 120,167 FUND BALANCEAS%OFEXP 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) $ 7,365 $ 7,526 $ 7,695 $ 7,695 $ 7,544 $ 7,561 "EXEMPLYIFYING EXCELLENCE" CITY OF KENNEDALE ANNUAL PROGRAM OF SERVICES NOVEMBER 95:EDC4B RESERVE FUND FY15-16 FY15-16 FY16-17 FY16-17 CURRENT FY16-17 CY-PY %OFPYBUDGET %OFCYBUDGET BUDGET ACCOUNT ACCOUNT NAME YTD ACTUAL ^CPT', AMENDED MONTH YTD CHANGE USED USED REMAINING 4401-00-00 INVESTMENT INCOME 9 170 160 17 34 135 5.1% 21.4% 126 INVESTMENT EARNINGS $ 9 $ 170 16" $ 160 $ 17 $ 34 $ 135 5.1% 21.4% $ 126 TOTAL REVENUES $ 9 $ 170 $ 160 $ 17 $ 34 $ 135 5.1% 21.4% $ 126 95:EDC4B RESERVE FUND FY15-16 FY15-16 "016- FY16-17 CURRENT FY16-17 CY-PY %OFPYBUDGET %OFCYBUDGET BUDGET ACCOUNT ACCOUNT NAME YTD ACTUAL 1,'; .'; i1 AMENDED MONTH YTD CHANGE USED USED REMAINING TRANSFERS $ $ $ $ $ $ 0.0% 0.0% $ TOTAL EXPENDITURES $ $ $ $ $ $ 0.0% 0.0% $ "EXEMPLYIFYING EXCELLENCE" CITY OF KENNEDALE ANNUAL PROGRAM OF SERVICES DECEMBER ECONOMIC DEVELOPMENT CORPORATION FINANCIALS SUMMARY Budget Amendment No amendments. Monthly Information Sales Taxes received in October and November are accrued back to FY16. Functional Grant line item - paid out property taxes for H &O and paying out sales taxes for H2O per 380 agreements. 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 "YOU'RE HERE. YOUR HOME." CITY OF KENNEDALE ANNUAL PROGRAM OF SERVICES EDC CASH POSITION DECEMBER FY15-16 FYI 6-17 CURRENT FY16-17 CATEGORY ACTUAL ADOPTED MONTH YTD BEGINNING CASH BALANCE - FUND 15 $ 90,295 $ 45,406 $ 13,024 $ 45,406 BEGINNING TEXPOOL BALANCE - FUND 15 $ 19 $ - $ - $ - BEGINNING TEXPOOL BALANCE - FUND 19 $ 29,444 $ 29,529 $ 29,549 $ 29,529 BEGINNING CASH BALANCE - FUND 95 $ 119,962 $ 120,132 $ 120,166 $ 120,132 TOTAL REVENUES $ 627,490 $ 933,227 $ 42,200 $ 91,135 TOTAL EXPENDITURES $ 718,004 $ 803,880 $ 26,799 $ 135,499 CHANGE IN CASH DURING PERIOD $ (44,653) $ 200,099 $ 14,389 $ (17,939) ENDING CASH BALANCE - FUND 15 $ 45,406 $ 270,559 $ 27,385 $ 27,385 ENDING TEXPOOL BALANCE - FUND 15 $ - $ 19 $ - $ - ENDING TEXPOOL BALANCE - FUND 19 $ 29,529 $ 4,456 $ 29,560 $ 29,560 ENDING CASH BALANCE - FUND 95 $ 120,132 $ 120,132 $ 120,183 $ 120,183 "YOU'RE HERE. YOUR HOME." CITY OF KENNEDALE ANNUAL PROGRAM OF SERVICES DECEMBER COMBINED EDC4B FUNDS SUMMARY FY15-16 FY15-16 FY16-17 FY16-17 CURRENT FY16-17 CY-PY %OFPYBUDGET %OFCYBUDGET BUDGET CATEGORY YTD ACTUAL ADOPTED AMENDED MONTH YTD CHANGE USED USED REMAINING BEGINNING FUND BALANCE $ 313,866 $ 313,866 $ 248,862 $ 223,530 $ 163,722 $223,522 AD VALOREM TAXES 1,966 34,335 48,462 48,462 393 1,180 400 5.7% 2.4% 47,282 SALES/BEVERAGE TAXES 33,176 376,545 349,351 349,351 27,446 27,768 (649) 8.8% 7.9% 321,583 INVESTMENT EARNINGS 43 333 260 260 31 95 180 12.9% 36.7% 165 MISCELLANEOUS INCOME 6,969 115,841 435,796 435,796 6,331 38,096 51,676 6.0% 8.7% 397,700 SURPLUS SALES/RENTALS 48,326 100,606 99,358 99,358 7,999 23,996 (30,416) 48.0% 24.2% 75,362 TOTAL REVENUES $ 90,480 $ 627,660 $ 933,227 $ 933,227 $ 42,200 $ 91,135 $ 21,191 14.4% 9.8% $ 842,092 SUPPLIES - 5,110 3,100 3,100 - - - 0.0% 0.0% 3,100 MAINTENANCE 1,945 19,709 95,403 95,403 567 4,923 71,811 9.9% 5.2% 90,480 SUNDRY 39,955 353,786 291,959 291,959 21,659 52,623 91,701 11.3% 18.0% 239,335 DEBT 49,091 166,773 168,600 168,600 4,573 43,043 2,226 29.4% 25.5% 125,557 TRANSFERS 35,959 151,919 154,819 154,819 - 34,909 1,300 23.7% 22.5% 119,909 CAPITAL - 20,707 90,000 90,000 - - (75,000) 0.0% 0.0% 90,000 TOTAL EXPENDITURES $ 126,951 $ 718,004 $ 803,880 $ 803,880 $ 26,799 $135,499 $ 92,038 17.7% 16.9% $ 668,381 REVENUES OVER EXPENDITURES $ (36,471) $ (90,344) $ 129,347 $ 129,347 $ 15,401 $ (44,364) ENDING FUND BALANCE $ 277,395 $ 223,522 $ 378,209 $ 352,877 $ 179,123 $179,157 FUND BALANCE AS%OFEXP 218.5% 31.1% 47.0% 43.9% 668.4% 132.2% RESERVE($115,000)REQUIREMENT) $ - $ - $ 115,000 $ - $ - $ - RESERVE SURPLUS/(SHORTFALL) $ 277,395 $ 223,522 $ 263,209 $ 352,877 $ 179,123 $179,157 "YOU'RE HERE.YOUR HOME." CITY OF KENNEDALE ANNUAL PROGRAM OF SERVICES DECEMBER 15:EDC4BFUND FY15-16 FY15-16 FY16-17 FY16-17 CURRENT FY16-17 CY-PY %OFPYBUDGET %OFCYBUDGET BUDGET CATEGORY YTD ACTUAL ADOPTED AMENDED MONTH YTD CHANGE USED USED REMAINING BEGINNING FUND BALANCE $ 164,460 $ 164,460 $ 99,198 $ 73,861 $ 14,041 $ 73,861 AD VALOREM TAXES 1,966 34,335 48,462 48,462 393 1,180 400 5.7% 2.4% 47,282 SALES/BEVERAGE TAXES 33,176 376,545 349,351 349,351 27,446 27,768 (649) 8.8% 7.9% 321,583 INVESTMENT EARNINGS 13 78 40 40 3 13 - 16.5% 33.4% 27 MISCELLANEOUS INCOME 6,969 115,841 435,796 435,796 6,331 38,096 51,676 6.0% 8.7% 397,700 SURPLUS SALES/RENTALS 48,326 100,606 99,358 99,358 7,999 23,996 (30,416) 48.0% 24.2% 75,362 TOTAL REVENUES $ 90,450 $ 627,405 $ 933,007 $ 933,007 $ 42,171 $ 91,053 $ 21,011 14.4% 9.8% $ 841,954 SUPPLIES - 5,110 3,100 3,100 - - - 0.0% 0.0% 3,100 MAINTENANCE 1,945 19,709 95,403 95,403 567 4,923 71,811 9.9% 5.2% 90,480 SUNDRY 39,955 353,786 291,959 291,959 21,659 52,623 91,701 11.3% 18.0% 239,335 DEBT 49,091 166,773 168,600 168,600 4,573 43,043 2,226 29.4% 25.5% 125,557 TRANSFERS 35,959 151,919 154,819 154,819 - 34,909 1,300 23.7% 22.5% 119,909 CAPITAL - 20,707 90,000 90,000 - - (50,000) 0.0% 0.0% 90,000 TOTAL EXPENDITURES $ 126,951 $ 718,004 803,880 $ 803,880 $ 26,799 $135,499 $ 117,038 17.7% 16.9% $ 668,381 REVENUES OVER EXPENDITURES $ (36,501) $ (90,599) $ 129,127 $ 129,127 $ 15,373 $ (44,446) ENDING FUND BALANCE $ 127,959 $ 73,861 $ 228,324 $ 202,987 $ 29,414 $ 29,414 FUND BALANCE AS%OFEXP 100.8% 10.3% 28.4% 25.3% 109.8% 21.7% RESERVE(NO REQUIREMENT) $ - $ - $ - $ - $ - $ - RESERVE SURPLUS/(SHORTFALL) $ 127,959 $ 73,861 $ 228,324 $ 202,987 $ 29,414 $ 29,414 "YOU'RE HERE.YOUR HOME." CITY OF KENNEDALE ANNUAL PROGRAM OF SERVICES DECEMBER 15:EDC4BFUND FY15-16 FY15-16 FY16-17 FY16-17 CURRENT FY16-17 CY-PY %OFPYBUDGET %OFCYBUDGET BUDGET ACCOUNT ACCOUNT NAME YTD ACTUAL ADOPTED AMENDED MONTH YTD CHANGE USED USED REMAINING 4002-00-00 MMDTAX-CURRENTYEAR 1,966 34,335 48,462 48,462 393 1,180 400 5.7% 2.4% 47,282 ADVALOREM TAXES $ 1,966 $ 34,335 $ 48,462 $ 48,462 $ 393 $ 1,180 $ 400 5.7% 2.4% $ 47,282 4081-00-00 SALES TAX 33,176 376,545 349,351 349,351 27,446 27,768 (649) 8.8% 7.9% 321,583 SALES/BEVERAGE TAXES $ 33,176 $376,545 $ 349,351 $349,351 $ 27,446 $27,768 $ (649) 8.8% 7.9% $ 321,583 4401-00-00 INVESTMENT INCOME 13 78 40 40 3 13 - 16.5% 33.4% 27 INVESTMENT EARNINGS $ 13 $ 78 $ 40 $ 40 $ 3 $ 13 $ - 16.5% 33A% $ 27 4409-00-00 MISCELLANEOUS INCOME 6,969 115,841 435,796 6,331 38,096 51,676 6.0% 8.7% 397,700 MISCELLANEOUS INCOME $ 6,969 $115,841 5 435,796 $435,796 $ 6,331 $38,096 $ 51,676 6.0% 8.7% $ 397,700 4805-00-00 RENTAL FEES-SHOPPING CENTER 48,015 98,580 °,;5i- 98,612 7,938 23,815 (22,662) 48.7% 241% 74,797 4806-00-00 RENTAL INSURANCE 311 2,026 746 60 180 (7,754) 15.3% 24.2% 565 SURPLUS SALES/RENTALS $ 48,326 $100,606 < 99,358 $ 99,358 $ 7,999 $23,996 $ (30,416) 48.0% 24.2% $ 75,362 TOTAL REVENUES $ 90,450 $627,405 S 933,O07 $933,007 $ 42,171 $91,053 $ 21,011 14.4% 9.8% $ 841,954 TOTAL REVENUES(EXCLUDING INTEREST/TRANSFERS) $ 90,437 $627,327 $ 932,967 $932,967 $ 42,169 $91,039 $ 21,011 10%ADMIN CHARGE-GENERAL FUND �_,�. x,197 2,101 "YOU'RE HERE.YOUR HOME." CITY OF KENNEDALE ANNUAL PROGRAM OF SERVICES DECEMBER 15:EDC4BFUND 01:ADMINISTRATION FY15-16 FY15-16 FY16-17 FY16-17 CURRENT FY16-17 CY-PY %OFPYBUDGET %OFCYBUDGET BUDGET ACCOUNT ACCOUNT NAME YTD ACTUAL ADOPTED AMENDED MONTH YTD CHANGE USED USED REMAINING 5240-01-00 PRINTED SUPPLIES 5,110 3,000 3,000 0.0% 0.0% 31000 5260-01-00 GENERAL OFFICE SUPPLIES - 50 50 0.0% 0.0% 50 5261-01-00 POSTAGE - 50 50 0.0% 0.0% 50 SUPPLIES $ $ 5,110 $ 3,100 $ 3,100 $ $ $ - 0.0% 0.0% $ 3,100 5501-01-00 ADVERTISING 210 2,200 2,200 1,000 0.0% 0.0% 2,200 5510-01-00 ASSOCDUES/PUBLICATIONS 1,236 5,356 5,320 5,320 1,300 23.1% 0.0% 5,320 5525-01-00 TRAINING/SEMINARS - 525 250 250 - 0.0% 0.0% 250 5565-01-00 LEGAL SERVICES 5,662 7,000 7,000 500 6,000 0.0% 7.1% 6,500 5567-01-00 AUDITSERVICES 2,000 2,250 2,250 - 250 0.0% 0.0% 2,250 5570-01-00 SPECIAL SERVICES 18,730 140,283 68,650 68,650 14,515 28,915 (3,950) 13.4% 42.1% 39,735 5574-01-00 FILING FEES - - - - 40 40 #DIV/0! #DIV/0! (40) 5575-01-00 EQUIPMENT RENTAL - - - - #DIV/0! #DIV/0! - 5578-01-00 TRAVEL - 100 100 0.0% 0.0% 100 5580-01-00 ENGINEERING SERVICES - 55,070 6,000 6,000 5,000 0.0% 0.0% 6,000 5595-01-00 ADMIN CHARGE-GENERAL FUND 8,017 56,796 93,297 93,297 4,217 9,104 2,101 14.1% 9.8% 84,193 5610-01-00 VISUAL GRANT - 11,122 50,000 50,000 - - 50,000 0.0% 0.0% 50,000 5615-01-00 FUNCTIONALGRANT 1,754 51,850 32,000 32,000 1,373 2,916 32,000 3.4% 9.1% 29,084 SUNDRY $ 29,738 $ 328,873 $ 267,067 $ 267,067 $ 20,145 $41,475 $ 93,701 9.0% 15.5% $ 146,508 5800-01-00 LAND - 1,968 - - - - - 0.0% 0.0% - 5813-01-00 KENNEDALE ENTRANCE SIGN - 0.0% 0.0% 5820-01-00 BUILDING IMPROVEMENT 0.0% 0.0% 5875-01-00 CONSTRUCTION - 0.0% 0.0% CAPITAL $ - $ 1,968 $ $ - $ - $ - $ - 0.0% #DIV/0! $ - TOTAL EXPENDITURES $ 29,738 $ 335,951 $ 270,167 $ 270,167 $ 20,145 $41,475 $ 93,701 8.9% 15.4% $ 149,608 "YOU'RE HERE.YOUR HOME." CITY OF KENNEDALE ANNUAL PROGRAM OF SERVICES DECEMBER 15:EDC4BFUND 01:ADMINISTRATION 03:DEBT SERVICE FY15-16 FY15-16 FY16-17 FY16-17 CURRENT FY16-17 CY-PY %OFPYBUDGET %OFCYBUDGET BUDGET ACCOUNT ACCOUNTNAME YTD ACTUAL ADOPTED AMENDED MONTH YTD CHANGE USED USED REMAINING 5643-01-03 2007$1.2M TAX BOND-INTEREST 31,034 62,135 58,728 58,728 29,325 (3,476) 49.9% 49.9% 29,402 5644-01-03 2007$1.2M TAX BOND-PRINCIPAL - 50,000 55,000 55,000 - 5,000 0.0% 0.0% 55,000 5645-01-03 2011$17M TX LEVERAGE-INT 4,721 15,930 15,672 15,672 1,339 4,046 (126) 29.6% 25.8% 11,626 5646-01-03 2011$13M TX LEVERAGE-PRI 13,336 38,709 39,200 39,200 3,233 9,672 827 34.5% 24.7% 29,528 DEBT $ 49,091 $ 166,773 $ 168,600 $ 168,600 $ 4,573 $43,043 $ 2,226 29.4% 25.5% $ 125,557 5702-01-03 TRANSFER OUT-DEBT SERVICE FUND 35,959 151,919 154,819 154,819 - 34,909 1,300 23.7% 22.5% 119,909 TRANSFER $ 35,959 $ 151,919 $ 154,819 $ 154,819 $ - $34,909 $ 1,300 23.7% 22.5% $ 119,909 TOTAL EXPENDITURES $ 85,050 $ 318,692 $ 323,419 $ 323,419 $ 4,573 $77,953 $ 3,526 26.7% 24.1% $ 245,466 "YOU'RE HERE.YOUR HOME." CITY OF KENNEDALE ANNUAL PROGRAM OF SERVICES DECEMBER 15:EDC4BFUND 02:TOWN SHOPPING CENTER FY15-16 FY15-16 "'Y16-17 FY16-17 CURRENT FY16-17 CY-PY %OFPYBUDGET %OFCYBUDGET BUDGET ACCOUNT ACCOUNT NAME YTD ACTUAL ADOPTED AMENDED MONTH YTD CHANGE USED USED REMAINING 5403-02-00 BUILDING MAINTENANCE 1,945 19,709 +03 95,403 567 4,923 71,811 9.9% 5.2% 90,480 MAINTENANCE $ 1,945 $ 19,709 $ 95,40? $ 95,403 $ 567 $ 4,923 $ 71,811 9.9% 5.2% $ 90,480 5530-02-00 ELECTRIC SERVICES 1,249 5,401 GGO 5,000 398 1,293 - 23.1% 25.9% 3,707 5545-02-00 INSURANCE-PROPERTY 6,121 6,121 6,500 6,500 - 6,507 (2,000) 100.0% 100.1% (7) 5570-02-00 SPECIAL SERVICES 2,848 13,392 39i 13,392 1,116 3,348 21.3% 25.0% 10,044 SUNDRY $ 10,218 $ 24,914 24,892 $ 24,892 $ 1,514 $11,148 $ (2,000) 41.0% 44.8% $ 13,744 TOTAL EXPENDITURES $ 12,163 $ 44,622 120;295 $ 120,295 $ 2,081 $ 16,072 $ 69,811 27.3% 13.4% $ 104,224 "YOU'RE HERE.YOUR HOME." CITY OF KENNEDALE ANNUAL PROGRAM OF SERVICES DECEMBER 15:EDC4BFUND 03:TOWN CENTER REDEVELOPMENT FY15-16 FY15-16 FY16-17 FY16-17 CURRENT FY16-17 CY-PY %OFPYBUDGET %OFCYBUDGET BUDGET ACCOUNT ACCOUNT NAME YTD ACTUAL ADOPTED AMENDED MONTH YTD CHANGE USED USED REMAINING 5580-03-00 ENGINEERING SERVICES 10,000 10,000 0.0% 0.0% 10,000 5847-03-00 CONSTRUCTION 80,000 80,000 0.0% 0.0% 80,000 CAPITAL $ $ $ 90,000 $ 90,000 $ $ $ 0.0% 0.0% $ 90,000 TOTAL EXPENDITURES $ $ $ 90,000 $ 90,000 $ $ $ 0.0% 0.0% $ 90,000 "YOU'RE HERE.YOUR HOME." CITY OF KENNEDALE ANNUAL PROGRAM OF SERVICES DECEMBER 15:EDC4BFUND 04:TEXAS LEVERAGE PROGRAM FY15-16 FY15-16 FYlC=17 FY16-17 CURRENT FY16-17 CY-PY %OF PY BUDGET %OFCYBUDGET BUDGET ACCOUNT ACCOUNT NAME YTD ACTUAL ADOPTED AMENDED MONTH YTD CHANGE USED USED REMAINING 5800-04-00 LAND 18,739 (50,000) 0.0% 0.0% CAPITAL $ $ 18,739 $ $ $ $ (50,000) 0.0% 0.0% $ TOTAL EXPENDITURES $ $ 18,739 $ $ $ $ (50,000) 0.0% 0.0% $ "YOU'RE HERE.YOUR HOME." CITY OF KENNEDALE ANNUAL PROGRAM OF SERVICES DECEMBER 19:EDC413 CAPITAL BOND FUND FY15-16 FY15-16 FY16-17 CURRENT FY16-17 CY-PY %OFPYBUDGET %OFCYBUDGET BUDGET CATEGORY YTD ACTUAL AMENDED MONTH YTD CHANGE USED USED REMAINING BEGINNING FUND BALANCE $ 29,444 $ 29,444 $ 29,529 $ 29,548 $29,529 INVESTMENT EARNINGS 10 85 60 11 31 45 11.60/6 51.30/6 29 TOTAL REVENUES $ 10 $ 85 $ 60 $ 11 $ 31 $ 45 11.6% 51.3% $ 29 CAPITAL - - - - - (25,000) 0.0% 0.00/6 - TOTAL EXPENDITURES $ - $ - $ - $ - $ - $ (25,000) 0.0% 0.0% $ REVENUES OVER EXPENDITURES $ 10 $ 85 $ 60 $ 11 $ 31 ENDING FUND BALANCE $ 29,454 $ 29,529 $ 29,589 $ 29,560 $29,560 FUND BALANCE AS% EXP N/A N/A N/A N/A N/A RESERVE(NO REQUIREMENT) $ - $ - $ - $ - $ - RESERVE SURPLUS/(SHORTFALL) $ 29,454 $ 29,529 $ 29,589 $ 29,560 $29,560 "YOU'RE HERE.YOUR HOME." CITY OF KENNEDALE ANNUAL PROGRAM OF SERVICES DECEMBER 19:EDC4B CAPITAL BOND FUND FY15-16 FY15-16 FY16-17 FY16-17 CURRENT FY16-17 CY-PY %OFPYBUDGET %OFCYBUDGET BUDGET ACCOUNT ACCOUNT NAME YTD ACTUAL 00PTED AMENDED MONTH YTD CHANGE USED USED REMAINING 4401-00-00 INVESTMENT INCOME 10 85 60 60 11 31 45 11.6% 51.3% 29 INVESTMENT EARNINGS $ 10 $ 85 6t3 $ 60 $ 11 $ 31 $ 45 11.6% 51.3% $ 29 TOTAL REVENUES $ 10 $ 85 t' 60 $ 60 $ 11 $ 31 $ 45 11.6% 51.3% $ 29 19:EDC4B CAPITAL BOND FUND 01:TOWN CENTER REDEVELOPMENT FY15-16 FY15-16 T FY16-17 CURRENT FY16-17 CY-PY %OFPYBUDGET %OFCYBUDGET BUDGET ACCOUNT ACCOUNT NAME YTD ACTUAL a>cl,D AMENDED MONTH YTD CHANGE USED USED REMAINING 5847-01-00 CONSTRUCTION (25,000) 0.0% 0.0% CAPITAL $ $ $ $ $ $ (25,000) 0.0% 0.0% $ TOTAL EXPENDITURES $ $ S $ $ $ $ (25,000) 0.0% 0.0% $ "YOU'RE HERE.YOUR HOME." CITY OF KENNEDALE ANNUAL PROGRAM OF SERVICES DECEMBER 95:EDC4B RESERVE FUND FY15-16 FY15-16 FY16-17 FY16-17 CURRENT FY16-17 CY-PY %OF PY BUDGET %OFCY BUDGET BUDGET CATEGORY YTD ACTUAL ADOPTED AMENDED MONTH YTD CHANGE USED USED REMAINING BEGINNING FUND BALANCE $ 119,962 $ 119,962 $ 120,141 $ 120,141 $ 120,132 $ 120,132 INVESTMENT EARNINGS 20 170 160 160 17 51 135 11.9% 32.0% 109 TOTAL REVENUES $ 20 $ 170 $ 160 $ 160 $ 17 $ 51 $ 135 11.9% 32.0% $ 109 TOTAL EXPENDITURES $ - $ - $ - $ - $ - $ - $ - 0.0% 0.0% $ - REVENUES OVER EXPENDITURES $ 20 $ 170 $ 160 $ 160 $ 17 $ 51 ENDING FUND BALANCE $ 119,982 $ 120,132 $ 120,301 $ 120,301 $ 120,149 $ 120,184 FUND BALANCEAS%OFEXP 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) $ 7,376 $ 7,526 $ 7,695 $ 7,695 $ 7,543 $ 7,578 "YOU'RE HERE.YOUR HOME." CITY OF KENNEDALE ANNUAL PROGRAM OF SERVICES DECEMBER 95:EDC4B RESERVE FUND FY15-16 FY15-16 �Y16-17 FY16-17 CURRENT FY16-17 CY-PY %OF PY BUDGET %OFCY BUDGET BUDGET ACCOUNT ACCOUNT NAME YTD ACTUAL ^CPT', AMENDED MONTH YTD CHANGE USED USED REMAINING 4401-00-00 INVESTMENT INCOME 20 170 160 17 51 135 11.9% 32.0% 109 INVESTMENT EARNINGS $ 20 $ 170 16" $ 160 $ 17 $ 51 $ 135 11.9% 32.0% $ 109 TOTAL REVENUES $ 20 $ 170 '> $ 160 $ 17 $ 51 $ 135 11.9% 32.0% $ 109 95:EDC4B RESERVE FUND FY15-16 FY15-16 ",136- FY16-17 CURRENT FY16-17 CY-PY %OF PY BUDGET %OFCY BUDGET BUDGET ACCOUNT ACCOUNT NAME YTD ACTUAL 1,'; .'; i1 AMENDED MONTH YTD CHANGE USED USED REMAINING TRANSFERS $ $ $ $ $ $ 0.0% 0.0% $ TOTAL EXPENDITURES $ $ $ $ $ $ 0.0% 0.0% $ "YOU'RE HERE.YOUR HOME." ic KENNEDALE Kennedale Economic Development Corporation www.cityofkennedale.com STAFF REPORT TO THE BOARD OF DIRECTORS Date: January 24, 2017 Agenda Item No: REGULAR ITEMS - B. I. Subject: Consider Approval of Hotel Occupancy Agreement II. Originated by: III. Summary: When the city adopted an ordinance establishing the hotel occupancy tax, the discussion was to have the EDC serve as the entity to administer the oversight of the funds on behalf of the city. Generally cities have an EDC or a convention and visitor bureau board to do this function. The agreement is to provide for the EDC function on behalf of the city council. HOT funds are restricted in that they can only be used to promote the city and encourage visitors to visit. IV. Recommendation: V. Alternative Actions: VI. Attachments: 1. 1HOT Delegation Agreement 1HOT Delegation Agreement.2017. df HOTEL OCCUPANCY TAX DELEGATION AGREEMENT This Agreement ("Agreement") is entered into between the City of Kennedale, Texas ("City"), a home rule municipality of the State of Texas, and the Kennedale Economic Development Corporation ("KEDC"), a Type B corporation created pursuant to the Development Corporation Act, Texas Local Government Code, Chapter 501, (collectively, "Parties"), for the purposes and considerations stated below. WHEREAS, chapter 351 of the Texas Tax Code allows a municipality to enact a municipal hotel occupancy tax that may be used only to promote tourism and the convention and hotel industry in the municipality; and WHEREAS, the Kennedale City Council adopted a municipal hotel occupancy tax on July 11, 2013; and WHEREAS, section 351.101(c) of the Texas Tax Code allows the governing body of a municipality by contract to delegate the management or supervision of programs and activities funded with revenue from the hotel occupancy tax to a person, including another governmental entity or a private organization; and WHEREAS, the City Council desires to delegate the management and supervision of programs and activities funded with revenue from the hotel occupancy tax to the Kennedale Economic Development Corporation; and WHEREAS, the Kennedale Economic Development Corporation agrees to faithfully execute the management and supervision of programs and activities funded with revenue from the hotel occupancy tax and is well equipped to perform those activities; NOW, THEREFORE, in consideration of the mutual benefits and promises contained herein and for other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties agree as follows: ARTICLE I. AUTHORIZATION AND DEFINITIONS 1.1 The City Council finds and determines that this Agreement is authorized and governed by Section 35 L 101(c) of the Texas Tax Code. 1.2 As used in this Agreement, the following terms shall have the following specific meanings: a. The tern "effective date" shall mean the date this Agreement is executed by both Parties. b. The term "hotel tax revenue" shall mean the gross monies collected and received by City as municipal hotel occupancy tax at the rate permitted by Texas Tax Code 351.002 and HAEconomic Development Corporation\Agreements\HOT Delegation Agreement.2017.docx(01/06/17) Page 1 City Ordinance. Hotel tax revenue will include penalty and interest related to the late payments of the tax revenue by the taxpayer. C. The term "collection period" shall mean the collection period for City's fiscal year. It will include hotel tax revenue due to City for the relevant fiscal year and collected through the 22nd day of the month following the close of the relevant fiscal year. d. The term "contract quarter" shall refer to any quarter of the calendar year in which this Agreement is in force. Contract quarters will end on March 31St, June 30th, and September 30th and December 31St ARTICLE II. CITY OBLIGATIONS 2.1 For and in consideration of the activities to be satisfactorily performed by KEDC under this Agreement, City agrees to delegate to KEDC the management and supervision of programs and activities funded with the hotel tan revenue collected by City for each collection period. City agrees to pay to KEDC the hotel tax revenue collected by City for each collection period in quarterly payments. 2.2 Quarterly payments will be dependent upon City receiving all reports required herein and by section 351.101 of the Texas Tax Code. Quarterly reports are due no later than thirty (30) days after the end of each contract quarter. 2.3 It is expressly understood that this Agreement in no way obligates City's general fund or any other monies or credits of City. 2.4 City may withhold allocations if City determines that expenditures of KEDC deviate materially from their approved budget or if the reports required herein and by section 351.101(c) of the Texas Tax Code are not submitted in a complete and timely manner. ARTICLE III. KEDC OBLIGATIONS 3.1 KEDC agrees to manage and supervise the programs and activities funded with City's hotel tax revenue. KEDC further agrees to use such hotel tax revenue only for those uses outlined in Texas Tax Code section 351.101(a), as amended. 3.2 KEDC may spend hotel tax revenue for KEDC's day-to-day operations, supplies, salaries, office rental, travel expenses, and other administrative costs only if those administrative costs are incurred directly in the promotion and servicing expenditures authorized under Texas Tax Code section 351.101(a), as amended. a. The portion of total administrative costs of KEDC for which hotel tax revenue may be used shall not exceed the portion of KEDC's administrative costs actually incurred in conducting the activities permitted pursuant to this Agreement. HAEconomic Development Corporation\Agreements\HOT Delegation Agreement.2017.docx(01/06/17) Page 2 b. Hotel tax revenue may not be spent for travel for a person to attend an event or conduct an activity the primary purpose of which is not directly related to the promotion of tourism and the convention and hotel industry or the performance of the person's job in an efficient and professional manner. ARTICLE IV. RECORDKEEPING REQUIREMENTS 4.1 KEDC shall adhere to the annual budget as approved by the Kennedale City Council for each calendar year for all operations of KEDC for which the hotel tax revenue shall be used by KEDC. The records of EDC shall be set up to allow the City to audit specifically the purpose of each individual expenditure of hotel tax revenue from the separate account relating to hotel tax revenue. City shall not pay to KEDC any hotel tax revenues during any collection period of this Agreement unless a budget for such collection period has been approved in writing by the Kennedale City Council, authorizing the expenditure of funds. 4.2 KEDC acknowledges that approval of the budget by the Kennedale City Council creates a fiduciary duty in KEDC with respect to the hotel tax revenue paid by City to KEDC under this Agreement. KEDC shall expend hotel tax revenue only in the manner and for the purposes specified in this Agreement, Texas Tax Code §351.101(a) and in the budget as approved by the Kennedale City Council. 4.3 KEDC shall maintain any hotel tax revenue paid to KEDC by City in a separate account or with segregated fund accounting, such that any reasonable person can ascertain the revenue source of any given expenditure. 4.4 KEDC shall maintain complete and accurate financial records of each expenditure of the hotel tax revenue made by KEDC. These funds are required to be classified as restricted funds for audited financial purposes, and may not be used for contracted services, including, but not limited to, auditing fees or attorney fees. Upon reasonable advance written request of the Kennedale City Council, the City Manager or his designee, or any other person, KEDC shall make such financial records available for inspection and review by the party making the request. KEDC understands and accepts that all such financial records and any other records relating to this Agreement shall be subject to the Public Information Act, Texas Government Code, chapter 552, as amended. 4.5 Within thirty (30) days after the end of every contract quarter,KEDC shall furnish to City the following: a. a completed financial report; b. a list of the expenditures or copies of the invoices or receipts made with regard to hotel tax revenue pursuant to Texas Tax Code §351.101(c); and C. a copy of all financial records (e.g., front and back copies of cleared checks or bank statements, and other relevant documentation). HAEconomic Development Corporation\Agreements\HOT Delegation Agreement.2017.docx(01/06/17) Page 3 4.6 KEDC shall prepare and deliver all reports in a form and manner approved by the City Manager, or his designee. KEDC shall respond promptly to any request from the City Manager or his designee for additional information relating to the activities performed under this Agreement. 4.7 KEDC shall give the City Manager, or his designee, reasonable advance written notice of the time and place of all meetings of the governing body of KEDC, as well as any other meeting of any constituency of KEDC, at which this Agreement or any matter subject to this Agreement shall be considered. ARTICLE V. TERM 5.1 The term of this Agreement shall commence on the effective date and terminate on December 31, 2018. Thereafter, this Agreement shall automatically renew for successive terms of one (1) year until terminated in accordance with this Agreement. Only those expenditures authorized by Chapter 351 of the Texas Tax Code which are actually incurred during the program period, for events and activities taking place within the program period, are eligible for funding under this Agreement, and any ineligible expenditures or unspent funds shall be forfeited to City upon termination of this Agreement. 5.2 This Agreement may be terminated by either party, with or without cause, by giving the other party sixty (60) days advance written notice. In the event this Agreement is terminated by either party pursuant to this section, City agrees to reimburse KEDC for any contractual obligations undertaken by KEDC in satisfactory performance of those programs or activities specified in this Agreement and that were approved by the Kennedale City Council through the budget. This reimbursement is conditioned upon such contractual obligations having been incurred and entered into in the good faith performance of those services contemplated herein, and further conditioned upon such contractual obligations having a term not exceeding the full term of this Agreement. Further, upon termination pursuant to this section, KEDC shall provide City: a. Within ten (10) business days from the termination notification, a short-term budget of probable expenditures for the remaining sixty (60) day period between termination notification and contract termination. This budget will be presented to the Kennedale City Council for approval within ten (10) business days after receipt by City. If formal approval is not given within ten (10) business days and the budget does not contain any expenditures that would be prohibited by the Texas Tax Code, and is within the current contractual period approved budget, the budget will be considered approved; b. Within thirty (30) days, a full accounting of all expenditures not previously audited by City; C. Within five (5) business days of a request from City, a listing of expenditures that have occurred since the last required reporting period; and HAEconomic Development Corporation\Agreements\HOT Delegation Agreement.2017.docx(01/06/17) Page 4 d. A final accounting of all expenditures and tax funds on the day of termination. KEDC will be obligated to return any unused funds or funds determined to be used improperly. Any use of remaining funds by KEDC after notification of termination is conditioned upon such contractual obligations having been incurred and entered into in the good faith performance of those services contemplated in this Agreement, and further conditioned upon such contractual obligations having a term not exceeding the full term of this Agreement. 5.3 This Agreement shall automatically terminate upon the occurrence of any of the following events: a. The termination of the legal existence of KEDC; b. The insolvency of KEDC, the filing of a petition in bankruptcy, either voluntarily or involuntarily, or an assignment by KEDC for the benefit of creditors; C. The continuation of a breach of any of the terms or conditions of this Agreement by either City or KEDC for more than thirty (30) days after written notice of such breach is given to the breaching party by the other party; or d. The failure of KEDC to submit quarterly reports which comply with the reporting procedures required herein and generally accepted accounting principles within thirty (30) days from the date City notifies KEDC of such breach. 5.4 Notwithstanding any other provision of this Agreement, to mitigate damages and to preserve evidence and issues for judicial determination, either party shall have the right to terminate this Agreement upon immediate notice to the other party in the event that any person has instituted litigation concerning the activities of the non-terminating party, and the terminating party reasonably believes that such activities are required or prohibited under this Agreement. 5.5 In the event that this Agreement is terminated pursuant to section 5.2 or section 5.3, KEDC agrees to refund any and all unused funds, or funds determined by City to have been used improperly, within thirty (30) days after termination of this Agreement. ARTICLE VI. GENERAL PROVISIONS 6.1 Nothing in this Agreement shall prohibit, nor be construed to prohibit, the agreement by KEDC with another private entity, person, or organization for the performance of services required by this Agreement, with City's approval. In the event that KEDC enters into any arrangement, contractual or otherwise, with such other entity, person or organization, KEDC shall cause such other entity, person, or organization to adhere to, conform to, and be subject to all provisions, terms, and conditions of this Agreement and Texas Tax Code Chapter 351, including reporting requirements, separate funds maintenance, and limitations and prohibitions pertaining to expenditure of the hotel tax revenue. HAEconomic Development Corporation\Agreements\HOT Delegation Agreement.2017.docx(01/06/17) Page 5 6.2 KEDC shall operate as an independent contractor as to all services to be performed under this Agreement and not as an officer, agent, servant, or employee of City. KEDC shall have exclusive control of its operations and performance of services hereunder, and such persons, entities, or organizations performing the same, and KEDC shall be solely responsible for the acts and omissions of its directors, officers, employees, agents, and subcontractors. KEDC shall not be considered a partner or joint venturer with City, nor shall KEDC be considered, nor in any manner hold itself out as, an agent or official representative of City. 6.3 TO THE EXTENT PERMITTED BY LAW, KEDC AGREES TO INDEMNIFY AND HOLD HARMLESS CITY, ITS OFFICERS, AGENTS, SERVANTS AND EMPLOYEES FROM AND AGAINST ANY AND ALL LOSS, COSTS, OR DAMAGE OF ANY KIND, NATURE, OR DESCRIPTION THAT MAY ARISE OUT OF OR IN CONNECTION WITH THIS AGREEMENT WHETHER OR NOT THE CLAIM OR CAUSE OF ACTION RESULTS FROM ANY NEGLIGENCE OF CITY OR ANY OF ITS OFFICERS,AGENTS, SERVANTS OR EMPLOYEES. 6.4 KEDC ASSUMES FULL RESPONSIBILITY FOR THE WORK TO BE PERFORMED AND SERVICES TO BE PROVIDED HEREUNDER, AND HEREBY RELEASES, RELINQUISHES AND DISCHARGES CITY, ITS OFFICERS, AGENTS, SERVANTS AND EMPLOYEES FROM ANY AND ALL CLAIMS, DEMANDS, AND CAUSES OF ACTION OF EVERY KIND AND CHARACTER,INCLUDING THE COST OF DEFENSE THEREOF, FOR ANY INJURY TO, INCLUDING DEATH OF, ANY PERSON (WHETHER OFFICERS, AGENTS, SERVIANTS OR EMPLOYEES OF EITHER OF THE PARTIES HERETO OR THIRD PERSONS) AND ANY LOSS OF OR DAMAGE TO PROPERTY (WHETHER THE PROPERTY IS THAT OF EITHER OF THE PARTIES HERETO OR OF THIRD PARTIES) THAT IS CAUSED BY OR ALLEGED TO BE CAUSED BY, ARISING OUT OF, OR IN CONNECTION WITH KEDC'S WORK OR SERVICES PROVIDED HEREUNDER WHETHER OR NOT SAID CLAIMS, DEMANDS, OR CAUSES OF ACTIONS ARE COVERED IN WHOLE OR PART BY INSURANCE. 6.5 KEDC shall not assign this Agreement without first obtaining the written consent of City. 6.6 Any notice required to be given under this Agreement or any statute, ordinance, or regulation, shall be effective when given in writing and deposited in the United States mail, certified mail,return receipt requested, or by hand-delivery, addressed to the respective parties as follows: City of Kennedale 405 Municipal Drive Kennedale, Texas 76060 Attn: City Manager HAEconomic Development Corporation\Agreements\HOT Delegation Agreement.2017.docx(01/06/17) Page 6 Kennedale Economic Development Corporation 405 Municipal Drive Kennedale, Texas 76060 Attn: Executive Director 6.7 This Agreement and each provision hereof, and each and every right, duty, obligation, and liability set forth herein shall be binding upon and inure to the benefit and obligation of City and KEDC and their respective successors and assigns. 6.8 This Agreement has been made under and shall be governed by the laws of the State of Texas. Performance and all matters related thereto shall be in Tarrant County, Texas. 6.9 This Agreement contains the entire understanding and constitutes the entire agreement between the Parties concerning the subject matter contained herein. There are no representations, agreements, arrangements, or understandings, oral or written, express or implied, between or among the parties, relating to the subject matter of this Agreement, which are not fully expressed herein. 6.10 The headings and subheadings of the various sections and paragraphs of this Agreement are inserted merely for the purpose of convenience and do not express or imply any limitation, definition, or extension of the specific terms of the section and paragraph so designated. 6.11 If any section, subsection, paragraph, sentence, clause, phrase or word in this Agreement, or application thereof to any person or circumstance, is held invalid by any court of competent jurisdiction, such holding shall not affect the validity of the remaining portions of this Agreement, and the parties hereby declare they would have enacted such remaining portions despite any such invalidity. 6.12 Failure of any party, at any time, to enforce a provision of this Agreement, shall in no way constitute a waiver of that provision, nor in any way affect the validity of this Agreement, any part hereof, or the right of either party thereafter to enforce each and every provision hereof. No term or breach of this Agreement shall be deemed waived or excused unless the waiver shall be in writing and signed by the party claimed to have waived. Furthermore, any consent to or waiver of a breach will not constitute consent to, waiver of or excuse of any other different or subsequent breach. This Agreement was approved by the Kennedale City Council at its meeting on , 2017. This Agreement was approved by the Kennedale Economic Development Corporation at its meeting on ) 2017. HAEconomic Development Corporation\Agreements\HOT Delegation Agreement.2017.docx(01/06/17) Page 7 KENNEDALE ECONOMIC DEVELOPMENT CORPORATION Bob Hart, Director Date: CITY OF KENNEDALE, TEXAS Bob Hart, City Manager Date: H:\Economic Development Corporation\AgreementMOT Delegation Agreement.2017.docx(01/06/17) Page 8 ic KENNEDALE Kennedale Economic Development Corporation www.cityofkennedale.com STAFF REPORT TO THE BOARD OF DIRECTORS Date: January 24, 2017 Agenda Item No: REGULAR ITEMS - C. I. Subject: Project Review II. Originated by: III. Summary: EDC Director to review all current and upcoming projects. IV. Recommendation: V. Alternative Actions: VI. Attachments: ic KENNEDALE Kennedale Economic Development Corporation www.cityofkennedale.com STAFF REPORT TO THE BOARD OF DIRECTORS Date: January 24, 2017 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. Oak Crest Redevelopment II. Originated by: Bob Hart III. Summary: These items will be discussed during the Executive Session. • Hospitality Project • Oak Crest Redevelopment IV. Recommendation: V. Alternative Actions: VI. Attachments: ic KENNEDALE Kennedale Economic Development Corporation www.cityofkennedale.com STAFF REPORT TO THE BOARD OF DIRECTORS Date: January 24, 2017 Agenda Item No: EXECUTIVE SESSION - B. I. Subject: The Economic Development Corporation will meet in closed session pursuant to Section 551.074 of the Texas Government Code to deliberate the appointment, employment, evaluation, reassignment, duties, discipline, or dismissal of a public officer or employee. 1. Discuss selection of and reassignment of duties for an Interim Executive Director for the Economic Development Corporation II. Originated by: III. Summary: IV. Recommendation: V. Alternative Actions: VI. Attachments: ic KENNEDALE Kennedale Economic Development Corporation www.cityofkennedale.com STAFF REPORT TO THE BOARD OF DIRECTORS Date: January 24, 2017 Agenda Item No: RECONVENE INTO OPEN SESSION, AND TAKE ACTION NECESSARY PURSUANT TO EXECUTIVE SESSION, IF NEEDED - A. I. Subject: Appoint an Interim Executive Director for the Economic Development Corporation II. Originated by: III. Summary: IV. Recommendation: V. Alternative Actions: VI. Attachments: ic KENNEDALE Kennedale Economic Development Corporation www.cityofkennedale.com STAFF REPORT TO THE BOARD OF DIRECTORS Date: January 24, 2017 Agenda Item No: RECONVENE INTO OPEN SESSION, AND TAKE ACTION NECESSARY PURSUANT TO EXECUTIVE SESSION, IF NEEDED - B. I. Subject: Consider approval of three hospitality related contracts involving a hotel II. Originated by: III. Summary: IV. Recommendation: V. Alternative Actions: VI. Attachments: 1. 380 Agreement 380 Agreement 1.05.17 - Confidential.pdf 2. Repurchase Contract lRepurchase Contract- Confidential.pdf 3. Contract of Sale lContract of Sale 1.05.17 - Confidential.pdf ic KENNEDALE Kennedale Economic Development Corporation www.cityofkennedale.com STAFF REPORT TO THE BOARD OF DIRECTORS Date: January 24, 2017 Agenda Item No: RECONVENE INTO OPEN SESSION, AND TAKE ACTION NECESSARY PURSUANT TO EXECUTIVE SESSION, IF NEEDED - C. I. Subject: Consider approval of contract to sell a portion of Oak Crest land II. Originated by: III. Summary: IV. Recommendation: V. Alternative Actions: VI. Attachments: