2017_06.27 EDC Minutes)
KENNEDALE
Kenneclale Economic
Development n ion
www.cttyofkenneda ECONOMIC DEVELOPMENT CORPORATION
eclal le.com
BOARD OF DIRECTORS - REGULAR MEETING
MINUTES
June 27, 2017
I. CALL TO ORDER
Vice - President Pat Turner called the meeting to order at 7:01 p.m.
II. ROLL CALL
Present: Michael Johnson, Rebecca Carlton, Pat Turner, Mark Yeary
Absent: Adrienne Kay, Robert Mundy, Ronald Whitley
III. MINUTES APPROVAL
A. Consider approval of the minutes from the May 30, 2017 regular meeting
Motion To approve the May 30, 2017 Economic Development Corporation meeting minutes.
Action Approve, Moved By Rebecca Carlton, Seconded By Mark Yeary.
Motion passed Unanimously
IV. REGULAR ITEMS
A. Review and accept the KEDC Financial Report for May 2017
Finance Director Brady Olsen provided an overview of the May financial report for the
Economic Development Corporation. He reported that sales tax was up for the month, but the
5 -year average was down. He informed the Board that the City received notice of an over
payment in sales tax due to an incorrect business address filing. The repayment amount is
$86,000, and one -third of that will come out of the EDC funds.
Motion To approve the May 2017 financial report for the Economic Development Corporation.
Action Approve, Moved By Michael Johnson, Seconded By Rebecca Carlton.
Motion passed Unanimously
V. STAFF ANNOUNCEMENTS /REPORTS
A. TownCenter
B. Oak Crest
C. Chamber of Commerce
Director Jack Thompson reported on ongoing projects. Jack stated that demolition of the old
Chicken Express building is currently underway, and should be completed by the end of the
week. He added that he is in the process of getting bids for the driveway.
Jack informed the Board that he expects to close on the hotel deal this year, which would put
the start of construction in approximately one year.
Jack reported that the Chamber's August luncheon presentation will cover cyber security.
Additional items of interest included updates on the Coffee Chat event, a multi- Chamber
business Fair to be held in April 2018, and the Joint Chamber Mixer held at Walnut Creek
Country Club.
VI. EXECUTIVE SESSION
Vice - President Turner recessed into executive session at 7:12 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
Vice - President Turner reconvened into open session at 8:08 p.m.
Motion To hold a special meeting of the Economic Development Board on Thursday, July 6,
2017. Action Approve, Moved By Rebecca Carlton, Seconded By Mark Yeary.
Motion passed Unanimously
VIII. ADJOURNMENT
Motion To adjourn. Action Adjourn, Moved By Michael Johnson, Seconded By Mark Yeary.
Motion passed Unanimously
The meeting was adjourned at 8:12 p.m.
APPROVED:
eA
resident Rob Mundy
21
ATTEST: