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2017_05.30 EDC Packet ic KENNEDALE Kennedale Economic Development Corporation www.cityofkennedale.com ECONOMIC DEVELOPMENT CORPORATION AGENDA BOARD OF DIRECTORS - REGULAR MEETING May 30, 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 April 25, 2017 regular meeting IV. REGULAR ITEMS A. Review and accept the KEDC Financial Report for April 2017. B. Authorize and ratify the expenditure for a project under Section 501.103 of the Development Corporation Act for construction of public infrastructure to promote or develop new or expanded business enterprises at 1298 W. Kennedale Parkway C. Discuss board members attending the 2017 Economic Development Sales Tax Workshop V. STAFF ANNOUNCEMENTS/REPORTS A. TownCenter B. Oak Crest C. Chamber of Commerce 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. Oak Crest Development 3. TownCenter Property 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 May 30, 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. �kxe. Xla.-r��'LJGtr Leslie Galloway, City 816cretary 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: May 30, 2017 Agenda Item No: MINUTES APPROVAL - A. I. Subject: Consider approval of the minutes from the April 25, 2017 regular meeting II. Originated by: III. Summary: Minutes are prepared by the Deputy City Secretary and ready for approval. IV. Recommendation: Approve V. Alternative Actions: VI. Attachments: 1. JEconomic development Corporation Meeting Minutes - April 25, 2017 -25-17. df _jc KENNEDALE Kennedale Economic Development www.ci yofi(enn Corporation rn ECONOMIC DEVELOPMENT CORPORATION BOARD OF DIRECTORS - REGULAR MEETING MINUTES April 25, 2017 I. CALL TO ORDER President Mundy called the meeting to order at 7:05 p.m. II. ROLL CALL Present: Michael Johnson, Rebecca Carlton, Robert Mundy, Pat Turner, Ronald Whitley, Mark Yeary Absent: Adrienne Kay III. MINUTES APPROVAL A. Consider approval of the minutes from the March 28, 2017 regular meeting Motion To approve the March 28, 2017 Economic Development Corporation meeting minutes. Action Approve, Moved By Michael Johnson, Seconded By Rebecca Carlton. Motion passed Unanimously IV. REGULAR ITEMS A. Review and accept the KEDC Financial Report for March 2017. Economic Development Director Jack Thompson provided an overview of the March financial report. He reported that the year-to-date sales tax was down slightly, and that there were minimal expenditures during the month. Motion To approve the March 2017 financial report for the Economic Development Corporation. Action Approve, Moved By Rebecca Carlton, Seconded By Ronald Whitley Motion passed Unanimously B. Consider approval to renew membership with the Dallas Chamber Director Jack Thompson stated that the Dallas Chamber is regional, and membership is advantageous to the economic development of Kennedale. Membership includes being listed in their annual directory; promotional events throughout the year; and marketing leads. Jack informed the Board that annual membership is $1000, and the EDC has been a member for many years. He noted that this is a small cost for the marketing advantages that are associated with membership. Motion To approve membership renewal with the Dallas Regional Chamber. Action Approve, Moved By Rebecca Carlton, Seconded By Mark Yeary. Motion passed Unanimously C. Discuss previous approval of sign contractor for the purchase and installation of a "For Sale" sign at 1109 W. Kennedale Parkway and consider approval of changes Director Jack Thompson stated that at the February meeting the Board approved the purchase of a sign to be installed at 1109 West Kennedale Parkway. The low bidder was Real Estate Media, for an amount of $550. Jack stated that to-date Real Estate Media has been unresponsive in regard to the sign installation. Jack requested that the EDC approve purchasing the sign from Fort Worth High-Tech Signs Co., with their bid of$595. Motion To approve the purchase of a V shaped sign for the property located at 1109 W. Kennedale Parkway from Fort Worth High-Tech Signs Co. Action Approve, Moved By Michael Johnson, Seconded By Rebecca Carlton. Motion passed Unanimously V. STAFF ANNOUNCEMENTS/REPORTS A. TownCenter B. Oak Crest C. SCR Commercial Trade Exposition D. Chamber of Commerce Director Jack Thompson reported on ongoing projects. Jack stated that the Chicken Express has opened in their new location, and he is getting bids together for the demolition of their old building. Additionally, he noted that the environmental report on the old Chicken Express building revealed that no asbestos was detected. Jack stated that the Dickey's opening has been stalled due to additional Corporate requirements; they hope to have a soft opening within a week. He added that the City is working with TML Insurance to increase the money for damages to the TownCenter buildings which occurred during last year's storms. Jack stated that negotiations are under way for a restaurant in the Oak Crest area; he expects them to request incentives if the deal is approved. Jack reported that the Chamber had a good turnout for the Kennedale Legislative Day in Austin. He noted that Kennedale was recognized both on the House and Senate floor this year. Additionally, the Chamber hosted a candidate forum for the upcoming May 6t" election, where approximately 100 citizens attended. Additional items of interest included updates for the Annual Clay Shoot; a Coffee Talk event in May; and a Joint Chamber Mixer scheduled for June 13th at Walnut Creek Country Club. VI. EXECUTIVE SESSION President Mundy recessed into executive session at 8:00 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 Development 3. TownCenter Property VII. RECONVENE INTO OPEN SESSION, AND TAKE ACTION NECESSARY PURSUANT TO EXECUTIVE SESSION, IF NEEDED President Mundy reconvened into open session at 8:36 p.m. No action was necessary pursuant to the Executive Session. The Board agreed to move their May meeting to May 30th to accommodate a schedule conflict with Director Jack Thompson. VIII. ADJOURNMENT Motion To adjourn. Action Adjourn, Moved By Michael Johnson, Seconded By Ronald Whitley. Motion passed Unanimously The meeting was adjourned at 8:39 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: May 30, 2017 Agenda Item No: REGULAR ITEMS - A. I. Subject: Review and accept the KEDC Financial Report for April 2017. II. Originated by: III. Summary: EDC Director, Jack Thompson provide an overview of the April 2017 Kennedale Economic Development Corporation Financial Report. IV. Recommendation: Approve V. Alternative Actions: VI. Attachments: 1. IEDC Financial Report 017 04 Monthly Financials - EDC. df CITY OF KENNEDALE ANNUAL PROGRAM OF SERVICES APRIL ECONOMIC DEVELOPMENT CORPORATION FINANCIALS SUMMARY Budget Amendment No amendments. Monthly Information Sales Taxes received below last year, but above budgetted pace Made over$200,000 in bond payments 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. Brady Olsen 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 APRIL FY16-17 CATEGORY YTD BEGINNING CASH BALANCE - FUND 15 $ 78,678 BEGINNING TEXPOOL BALANCE - FUND 15 $ BEGINNING TEXPOOL BALANCE - FUND 19 $ 29,602 BEGINNING CASH BALANCE - FUND 95 $ 120,296 BEGINNING CASH BALANCE -TOTAL $ 228,575 ENDING CASH BALANCE - FUND 15 $ (109,782) ENDING TEXPOOL BALANCE - FUND 15 $ ENDING TEXPOOL BALANCE - FUND 19 $ 29,619 ENDING CASH BALANCE - FUND 95 $ 120,341 ENDING CASH BALANCE -TOTAL $ 40,179 UNAVAILABLE CASH - EARMARKED INSURANCE MONEY-HAIL DAMAGE TOWN CENTER $ 74,417.31 2010$2.OM BOND SALE REMAINING CASH $ 29,619.20 RESERVES FOR LEVERAGE NOTE $ 120,341.02 TOTAL UNAVAILABLE CASH $ 224,377.53 AVAILABLE CASH $ (184,198.92) "YOU'RE HERE. YOUR HOME." CITY OF KENNEDALE ANNUAL PROGRAM OF SERVICES APRIL COMBINED EDC4B FUNDS SUMMARY FY15-16 FY15-16 FY16-17 CURRENT FY16-17 %OFPYACTUAL %OFCYBUDGET BUDGET CATEGORY YTD ACTUAL ADOPTED MONTH YTD USED USED REMAINING BEGINNING FUND BALANCE $ 313,866 $ 313,866 $ 248,862 $ 229,495 $ 223,522 AD VALOREM TAXES 3,539 34,335 48,462 - 2,360 10.3% 4.9% 46,102 SALES/BEVERAGE TAXES 153,472 376,545 349,351 29,367 148,588 40.8% 42.5% 200,763 INVESTMENT EARNINGS 206 333 260 63 368 61.9% 141.4% (108) MISCELLANEOUS INCOME 22,133 115,841 435,796 4,100 55,092 19.1% 12.6% 380,703 SURPLUS SALES/RENTALS 80,320 100,606 99,358 5,394 53,385 79.8% 53.7% 45,973 TOTAL REVENUES $ 259,670 $ 627,660 $ 933,227 $ 38,923 $ 259,793 41.4% 27.8% $ 673,434 SUPPLIES - 5,110 3,100 - - 0.0% 0.0% 3,100 MAINTENANCE 11,157 19,709 95,403 2,254 11,531 56.6% 12.1% 83,872 SUNDRY 116,772 353,786 291,959 19,008 110,684 33.0% 37.9% 181,275 DEBT 148,483 166,773 168,600 88,990 145,859 89.0% 86.5% 22,740 TRANSFERS 151,919 151,919 154,819 119,909 154,819 100.0% 100.0% - CAPITAL - 20,707 90,000 1,080 23,080 0.0% 25.6% 66,920 TOTAL EXPENDITURES $ 428,331 $ 718,004 y 803,880 $ 231,242 $ 445,974 59.7% 55.5% $ 357,907 REVENUES OVER EXPENDITURES $ (168,661) $ (90,344) $ 129,347 $ (192,318) $ (186,181) ENDING FUND BALANCE $ 145,205 $ 223,522 $ 378,209 $ 37,177 $ 37,341 FUND BALANCEAS%OFEXP 33.9% 31.1% 47.0% 16.1% 8.4% RESERVE($115,000)REQUIREMENT) $ - $ - $ 115,000 $ - $ - RESERVE SURPLUS/(SHORTFALL) $ 145,205 $ 223,522 $ 263,209 $ 37,177 $ 37,341 "YOU'RE HERE.YOUR HOME." CITY OF KENNEDALE ANNUAL PROGRAM OF SERVICES APRIL 15:EDC413 FUND FY15-16 FY15-16 FYI 6-17 CURRENT FY16-17 %OFPYACTUAL %OFCYBUDGET BUDGET CATEGORY YTD ACTUAL ADOPTED MONTH YTD USED USED REMAINING BEGINNING FUND BALANCE $ 164,460 $ 164,460 $ 99,198 $ 79,761 $ 73,861 AD VALOREM TAXES 3,539 34,335 48,462 - 2,360 10.3% 4.9% 46,102 SALES/BEVERAGE TAXES 153,472 376,545 349,351 29,367 148,588 40.8% 42.5% 200,763 INVESTMENT EARNINGS 72 78 40 - 68 92.8% 171.2% (28) MISCELLANEOUS INCOME 22,133 115,841 435,796 4,100 55,092 19.1% 12.6% 380,703 SURPLUS SALES/RENTALS 80,320 100,606 99,358 5,394 53,385 79.8% 53.7% 45,973 TOTAL REVENUES $ 259,536 $ 627,405 7 933,007 $ 38,861 $ 259,494 41.4% 27.8% $ 673,513 SUPPLIES - 5,110 3,100 - - 0.0% 0.0% 3,100 MAINTENANCE 11,157 19,709 95,403 2,254 11,531 56.6% 12.1% 83,872 SUNDRY 116,772 353,786 291,959 19,008 110,684 33.0% 37.9% 181,275 DEBT 148,483 166,773 168,600 88,990 145,859 89.0% 86.5% 22,740 TRANSFERS 151,919 151,919 154,819 119,909 154,819 100.0% 100.0% - CAPITAL - 20,707 90,000 1,080 23,080 0.0% 25.6% 66,920 TOTAL EXPENDITURES $ 428,331 $ 718,004 803,880 $ 231,242 $ 445,974 59.7% 55.5% $ 357,907 REVENUES OVER EXPENDITURES $ (168,795) $ (90,599) $ 129,127 $ (192,381) $ (186,480) ENDING FUND BALANCE $ (4,335) $ 73,861 $ 228,324 $ (112,620) $ (112,620) FUND BALANCE AS% EXP -1.0% 10.3% 28.4% -48.7% -25.3% RESERVE(NO REQUIREMENT) $ - $ - $ - $ - $ RESERVE SURPLUS/(SHORTFALL) $ (4,335) $ 73,861 $ 228,324 $ (112,620) $ (112,620) "YOU'RE HERE.YOUR HOME." CITY OF KENNEDALE ANNUAL PROGRAM OF SERVICES APRIL 15:EDC4BFUND FYI 5-16 FY15-16 FY16-17 CURRENT FYI 6-17 %OFPYACTUAL %OFCYBUDGET BUDGET ACCOUNT ACCOUNTNAME YTD ACTUAL ADOPTED MONTH YTD USED USED REMAINING 4002-00-00 MMD TAX-CURRENT YEAR 3,539 34,335 48,462 - 2,360 10.3% 4.9% 46,102 ADVALOREM TAXES $ 3,539 $ 34,335 $ 48,462 $ - $ 2,360 10.3% 4.9% $ 46,102 4081-00-00 SALES TAX 153,472 376,545 349,351 29,367 148,588 40.8% 42.5% 200,763 SALES/BEVERAGE TAXES $ 153,472 $ 376,545 $ 349,351 $ 29,367 $ 148,588 40.8% 42.5% $ 200,763 4401-00-00 INVESTMENT INCOME 72 78 40 - 68 92.8% 171.2% (28) INVESTMENT EARNINGS $ 72 $ 78 5 40 $ - $ 68 92.8% 171.2% $ (28) 4409-00-00 MISCELLANEOUS INCOME 22,133 115,841 435,796 4,100 55,092 19.1% 12.6% 380,703 MISCELLANEOUS INCOME $ 22,133 $ 115,841 $ 435,796 $ 4,100 $ 55,092 19.1% 12.6% $ 380,703 4805-00-00 RENTAL FEES-SHOPPING CENTER 79,761 98,580 98,612 5,394 53,024 80.9% 53.8% 45,588 4806-00-00 RENTAL INSURANCE 559 2,026 746 - 361 27.6% 48.4% 385 SURPLUS SALES/RENTALS $ 80,320 $ 100,606 $ 99,358 $ 5,394 $ 53,385 79.8% 53.7% $ 45,973 TOTAL REVENUES $ 259,536 $ 627,405 $ 933,007 $ 38,861 $ 259,494 41.4% 27.8% $ 673,513 TOTAL REVENUES(EXCLUDING INTEREST/TRANSFERS) $ 259,464 $ 627,327 $ 932,967 $ 38,861 $ 259,425 10%ADMIN CHARGE-GENERAL FUND 25,9<}6 62,733 93,297 3,856 25,943 "YOU'RE HERE.YOUR HOME." CITY OF KENNEDALE ANNUAL PROGRAM OF SERVICES APRIL 15:EDC4BFUND 01:ADMINISTRATION FY15-16 FY15-16 FY16-17 CURRENT FY16-17 %OFPYACTUAL %OFCYBUDGET BUDGET ACCOUNT ACCOUNT NAME YTD ACTUAL ADOPTED MONTH YTD USED USED REMAINING 5240-01-00 PRINTED SUPPLIES 5,110 3,000 0.0% 0.0% 3,000 5260-01-00 GENERAL OFFICE SUPPLIES - 50 0.0% 0.0% 50 5261-01-00 POSTAGE - 50 0.0% 0.0% 50 SUPPLIES $ $ 5,110 $ 3,100 $ $ 0.0% 0.0% $ 3,100 5501-01-00 ADVERTISING 210 2,200 0.0% 0.0% 2,200 5510-01-00 ASSOC DUES/PUBLICATIONS 1,236 5,356 5,320 23.1% 0.0% 5,320 5525-01-00 TRAINING/SEMINARS - 525 250 0.0% 0.0% 250 5565-01-00 LEGAL SERVICES - 5,662 7,000 5,750 0.0% 82.1% 1,250 5567-01-00 AUDIT SERVICES 2,000 2,000 2,250 2,250 100.0% 100.0% - 5570-01-00 SPECIAL SERVICES 50,427 140,283 68,650 11,400 51,145 35.9% 74.5% 17,505 5574-01-00 FILING FEES - - - - 40 (40) 5575-01-00 EQUIPMENT RENTAL - - - 5578-01-00 TRAVEL - - 100 - 0.0% 0.0% 100 5580-01-00 ENGINEERING SERVICES 7,150 55,070 6,000 - 1,903 13.0% 31.7% 4,098 5595-01-00 ADMIN CHARGE-GENERAL FUND 24,029 56,796 93,297 3,886 25,943 42.3% 27.8% 67,354 5610-01-00 VISUALGRANT 4,843 11,122 50,000 - - 43.5% 0.0% 50,000 5615-01-00 FUNCTIONAL GRANT 10,283 51,850 32,000 2,492 6,770 19.8% 21.2% 25,230 SUNDRY $ 99,967 $ 328,873 $ 267,067 $ 17,778 $ 93,799 30.4% 35.1% $ 173,267 5800-01-00 LAND - 1,968 - - 22,000 0.0% 0.0% (22,000) 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 $ - $ 22,000 0.0% #DIV/0! $ (22,000) TOTAL EXPENDITURES $ 99,967 $ 335,951 $ 17,778 $ 115,799 29.8% 42.9% $ 154,367 "YOU'RE HERE.YOUR HOME." CITY OF KENNEDALE ANNUAL PROGRAM OF SERVICES APRIL 15:EDC4B FUND 01:ADMINISTRATION 03:DEBT SERVICE FY15-16 FY15-16 FY16-17 CURRENT FY16-17 %OFPYBUDGET %OFCYBUDGET BUDGET ACCOUNT ACCOUNT NAME YTD ACTUAL ADOPTED MONTH YTD USED USED REMAINING 5643-01-03 2007$1.2M TAX BOND-INTEREST 62,135 62,135 58,728 29,364 58,689 100.0% 99.9% 39 5644-01-03 2007$1.2M TAX BOND-PRINCIPAL 50,000 50,000 55,000 55,000 55,000 100.0% 100.0% - 5645-01-03 2011$1.7MTXLEVERAGE-INT 10,395 15,930 15,672 784 9,060 65.3% 57.8% 6,613 5646-01-03 2011$1.7M TX LEVERAGE-PRI 25,953 38,709 39,200 3,843 23,111 67.0% 59.0% 16,089 DEBT $ 148,483 $ 166,773 $ 168,600 $ 88,990 $ 145,859 89.0% 86.5% $ 22,740 5702-01-03 TRANSFER OUT-DEBT SERVCE FUND 151,919 151,919 154,819 119,909 154,819 100.0% 100.0% - TRANSFER $ 151,919 $ 151,919 $ 154,819 $ 119,909 $ 154,819 100.0% 100.0% $ - TOTAL EXPENDITURES $ 300,401 $ 318,692 $ 323,419 $ 208,900 $ 300,678 94.3% 93.0% $ 22,740 "YOU'RE HERE.YOUR HOME." CITY OF KENNEDALE ANNUAL PROGRAM OF SERVICES APRIL 15:EDC4B FUND 02:TOWN SHOPPING CENTER FY15-16 FY15-16 �Y76-17 CURRENT FY16-17 %OFPYACTUAL %OFCYBUDGET BUDGET ACCOUNT ACCOUNT NAME YTD ACTUAL ADOPTED MONTH YTD USED USED REMAINING 5403-02-00 BUILDING MAINTENANCE 11,157 19,709 95,403 2,254 11,531 56.6% 12.1% 83,872 MAINTENANCE $ 11,157 $ 19,709 S 95,403 $ 2,254 $ 11,531 56.6% 12.1% $ 83,872 5530-02-00 ELECTRIC SERVICES 2,872 5,401 5,000 580 3,497 53.2% 69.9% 1,503 5545-02-DO INSURANCE-PROPERTY 6,121 6,121 6,500 - 6,507 100.0% 100.1% (7) 5570-02-00 SPECIAL SERVICES 7,812 13,392 13,392 650 6,880 58.3% 51.4% 6,512 SUNDRY $ 16,805 $ 24,914 $ 24,892 $ 1,230 $ 16,665 67.5% 67.8% $ 8,007 TOTAL EXPENDITURES $ 27,962 $ 44,622 $ 120,295 $ 3,484 S 28,416 62.7% 23.6% $ 91,879 "YOU'RE HERE.YOUR HOME." CITY OF KENNEDALE ANNUAL PROGRAM OF SERVICES APRIL 15:EDC46FUND 03:TOWN CENTER REDEVELOPMENT FY15-16 FY15-16 FY16-17 CURRENT FY16-17 %OFPVACTUAL %OFCYBUDGET BUDGET ACCOUNT ACCOUNT NAME YTD ACTUAL ADOPTED MONTH YTD USED USED REMAINING 5580-03-00 ENGINEERING SERVICES - - 10,000 - - 0.0% 0.0% 10,000 5847-03-00 CONSTRUCTION - - 80,000 1,080 1,080 0.0% 1.4% 78,920 CAPITAL $ - $ - $ 90,000 $ 1,080 $ 1,080 0.0% 1.2% $ 88,920 TOTAL EXPENDITURES $ - $ - $ 90,000 $ 1,080 $ 1,080 0.0% 1.2% $ 88,920 "YOU'RE HERE.YOUR HOME." CITY OF KENNEDALE ANNUAL PROGRAM OF SERVICES APRIL 15:EDC46FUND 04:TEXAS LEVERAGE PROGRAM FY15-16 FY15-16 FVM17 CURRENT FY16-17 %OFPYACTUAL %OFCYBUDGET BUDGET ACCOUNT ACCOUNT NAME YTD ACTUAL A00PTE MONTH YTD USED USED REMAINING 5800-04-00 LAND - 18,739 - - - 0.0% 0.0% - CAPITAL $ - $ 18,739 $ - $ - $ - 0.0% 0.0% $ - TOTAL EXPENDITURES $ - $ 18,739 5 - $ - $ - 0.0% 0.0% $ - "YOU'RE HERE.YOUR HOME." CITY OF KENNEDALE ANNUAL PROGRAM OF SERVICES APRIL 19:EDC46 CAPITAL BOND FUND FY15-16 FY15-16 FV16-1� CURRENT FY16-17 %OFPYACTUAL %OFCYBUDGET BUDGET CATEGORY YTD ACTUAL ADQPTE, MONTH YTD USED USED REMAINING BEGINNING FUND BALANCE $ 29,444 $ 29,444 4 ,.... $ 29,602 S 29,529 INVESTMENT EARNINGS 40 85 17 90 47.0% 149.9% (30) TOTAL REVENUES $ 40 $ 85 $ 6C $ 17 $ 90 47.0% 149.9% $ (30) CAPITAL - - - - - 0.0% 0.0% - TOTAL EXPENDITURES $ - $ - $ - $ - $ - 0.0% 0.0% $ - REVENUES OVER EXPENDITURES $ 40 $ 85 $ 60 $ 17 $ 90 ENDING FUND BALANCE $ 29AN $ 29,529 $ 29,584 $ 29,619 $ 29,619 FUND BALANCE AS%OFEXP N/A N/A N/A N/A N/A RESERVE(NO REQUIREMENT) $ - $ - $ - $ - $ - RESERVE SURPLUS/(SHORTFALL) $ 29,484 $ 29,529 $ 29,584 $ 29,619 $ 29,619 "YOU'RE HERE.YOUR HOME." CITY OF KENNEDALE ANNUAL PROGRAM OF SERVICES APRIL 19:EDC46 CAPITAL BOND FUND FY15-16 FY15-16 FY16-17 CURRENT FY16-17 %OFPVACTUAL %OFCYBUDGET BUDGET ACCOUNT ACCOUNT NAME YTD ACTUAL ADOPTED MONTH YTD USED USED REMAINING 4401-00-00 INVESTMENT INCOME 40 85 60 17 90 47.0% 149.9% (30) INVESTMENT EARNINGS $ 40 $ 85 $ 60 $ 17 $ 90 47.0% 149.9% $ (30) TOTAL REVENUES $ 40 $ 85 $ 60 $ 17 $ 90 47.0% 149.9% $ (30) 19:EDC46 CAPITAL BOND FUND 01:TOWN CENTER REDEVELOPMENT FY15-16 FY15-16 FY16-17 CURRENT FY16-17 %OFPYACTUAL %OFCYBUDGET BUDGET ACCOUNT ACCOUNT NAME YTD ACTUAL ADOPTED MONTH YTD USED USED REMAINING 5847-01-00 CONSTRUCTION - - - - - 0.0% 0.0% - CAPITAL $ - $ - 5 $ - $ - 0.0% 0.0% $ - TOTAL EXPENDITURES $ - $ - S $ - $ - 0.0% 0.0% $ - "YOU'RE HERE.YOUR HOME." CITY OF KENNEDALE ANNUAL PROGRAM OF SERVICES APRIL 95:EDC46 RESERVE FUND FY15-16 FY15-16 :Y1617 CURRENT FY16-17 %OFPYACTUAL %OFCYBUDGET BUDGET CATEGORY YTD ACTUAL ,I)OPTED MONTH YTD USED USED REMAINING BEGINNING FUND BALANCE $ 119,962 $ 119,962 120,141 $ 120,132 $ 120,132 INVESTMENT EARNINGS 94 170 45 209 55.2% 130.7% (49) TOTAL REVENUES $ 94 $ 170 J:; $ 45 $ 209 55.2% 130.7% $ (49) TOTAL EXPENDITURES $ - $ - $ - $ - 0.0% 0.0% $ - REVENUES OVER EXPENDITURES $ 94 $ 170 $ 45 $ 209 ENDING FUND BALANCE $ 120,056 $ 120,132 $ '120,301 $ 120,178 $ 120,341 FUND BALANCEAS%OF EXP N/A N/A N/A N/A N/A RESERVE($112,606 REQUIREMENT) $ 112,606 $ 112,606 S 1112,606 $ 112,606 $ 112,606 RESERVE SURPLUS/(SHORTFALL) $ 7,450 $ 7,526 S 7,695 $ 7,572 $ 7,735 "YOU'RE HERE.YOUR HOME." CITY OF KENNEDALE ANNUAL PROGRAM OF SERVICES APRIL 95:EDC46 RESERVE FUND FY15-16 FY15-16 FY16-17 CURRENT FY16-17 %OFPYBUDGET %OFCYBUDGET BUDGET ACCOUNT ACCOUNT NAME YTD ACTUAL ADOPTED MONTH YTD USED USED REMAINING 4401-00-00 INVESTMENT INCOME 94 170 160 45 209 55.2% 130.7% (49) INVESTMENT EARNINGS $ 94 $ 170 $ 160 $ 45 $ 209 55.2% 130.7% $ (49) TOTAL REVENUES $ 94 $ 170 $ 160 $ 45 $ 209 55.2% 130.7% $ (49) 95:EDC46 RESERVE FUND FY15-16 FY15-16 FY16-17 CURRENT FY16-17 %OFPYBUDGET %OFCYBUDGET BUDGET ACCOUNT ACCOUNT NAME YTD ACTUAL ADOPTED MONTH YTD 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: May 30, 2017 Agenda Item No: REGULAR ITEMS - B. I. Subject: Authorize and ratify the expenditure for a project under Section 501.103 of the Development Corporation Act for construction of public infrastructure to promote or develop new or expanded business enterprises at 1298 W. Kennedale Parkway II. Originated by: III. Summary: Following up from a previous EDC meeting, the EDC Board needs to ratify a payment made to the City of Kennedale for the impact fees in support of the project at 1298 W. Kennedale Parkway. IV. Recommendation: Approve V. Alternative Actions: VI. Attachments: ic KENNEDALE Kennedale Economic Development Corporation www.cityofkennedale.com STAFF REPORT TO THE BOARD OF DIRECTORS Date: May 30, 2017 Agenda Item No: REGULAR ITEMS - C. I. Subject: Discuss board members attending the 2017 Economic Development Sales Tax Workshop II. Originated by: III. Summary: The Economic Development Sales Tax Workshop are designed specifically for EDC Board Members and local elected officials and include information about economic and community development in general, and changes to the Economic Development Sales Tax Law. The workshops will include a discussion of changes to the Economic Development Sales Tax law that occurred during the 85th session of the Texas Legislature. This is a good program and will keep board members up-to-date on any changes to the law. All board members are required to attend. We will schedule half the board for the October session and pay for it out of this fiscal year; the other half will be scheduled for another session during FY18. Going forward, we will alternate half of the board members one year and half the next. IV. Recommendation: Approve V. Alternative Actions: VI. Attachments: 1. 12017 Economic Development Sales Tax Workshop rttachment.pdf DC Sales Tax Workshop Infomation 0008 Published on Texas Economic Development Council(https://www.texasedc.org) Home >2017 Mesquite Economic Development Sales Tax Workshop 2017 Mesquite Economic Development Sales Tax Workshop CL 1972SI67 r'-7 7 CIO s r .` [2] Date of Event- Friday, October 27, 2017 Time of Event- 8.00 AM - 4.00 PM Registration Deadline: Friday, October 20, 2017 Registration Rate: $175 The Economic Development Sales Tax Workshop are designed specifically for EDC Board Members and local elected officials and include information about economic and community development in general, and changes to the Economic Development Sales Tax Law. The workshops will include a discussion of changes to the Economic Development Sales Tax law that occurred during the 85th session of the Texas Legislature. Workshop attendees will receive Open Meetings Act and Public Information Act certification as a part of this course. Attendees of the Economic Development Sales Tax Workshop will be provided training materials, a light breakfast, and lunch. Hampton Inn Hotel 1700 Rodeo Dr. Mesquite, TX 75149 (972) 329-3100 Overnight Accommodations: The TEDC's discounted room block rate at the Hampton Inn is currently $115.00/night+tax. There are limited number of rooms available in the TEDC's room block. The room block rate will expire on October 6th, 2017. To book your reservation by phone: (800) 445-8667 To book your reservation online: Room Reservation Link [3] Registration and Payment Policy: All registrations are to be made online. Registrations will not be accepted by mail, email, telephone or fax. Payments in advance are encouraged, unless specified to be paid prior to the event. Invoices are required to be paid within 30 days following the event. Payments may be made in the form of check or online via credit card. Purchase orders will not be accepted as a form of payment. Cancellation, Refund and No-Show Policy: All cancellations must be received in writing via email to TEDC staff at crystal @texasedc.org [4]. Cancellations received in writing on or before October 19, 2017, and which payment has been received, will be refunded via check following the event. There will be no refunds for cancellations received after October 19, 2017. A registered attendee who does not submit a written cancellation or attend the event, is considered a No-Show and is not eligible for a refund. A registered attendee who does not submit a written notice of cancellation or attend the event is still responsible for the registration fee. Source URL: https://www.texasedc.org/2017-mesquite-economic-development-sales-tax-workshop Links: [1] https://tedc.memberclicks.net/index.php?option=com_mc&amp;view=me&amp;mcid=form_235758 [2] https://www.texasedc.org/sites/defauIt/files/files/EDST/Mesquite%20EDST%2OAttendees%20Export- TEDC-Profiles-19-19-Apr-.pdf [3] http://hamptoninn.hilton.com/en/hp/groups/personalized/D/DALHSHX-TED-20171026/index.jhtml [4] mailto:crystal @texasedc.org ic KENNEDALE Kennedale Economic Development Corporation www.cityofkennedale.com STAFF REPORT TO THE BOARD OF DIRECTORS Date: May 30, 2017 Agenda Item No: STAFF ANNOUNCEMENTS/REPORTS - A. I. Subject: TownCenter B. Oak Crest C. Chamber of Commerce II. Originated by: III. Summary: The Director will provide an update on these items. • TownCenter • Oak Crest • Chamber of Commerce Report IV. Recommendation: None V. Alternative Actions: VI. Attachments: ic KENNEDALE Kennedale Economic Development Corporation www.cityofkennedale.com STAFF REPORT TO THE BOARD OF DIRECTORS Date: May 30, 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 Development 3. TownCenter Property II. Originated by: III. Summary: The Economic Development Corporation will meet in Executive Session. IV. Recommendation: V. Alternative Actions: VI. Attachments: