2017_08.22 EDC Packet ic
KENNEDALE
Kennedale Economic
Development Corporation
www.cityofkennedale.com
ECONOMIC DEVELOPMENT CORPORATION
AGENDA
BOARD OF DIRECTORS - REGULAR MEETING
August 22, 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 July 25, 2017 regular meeting
IV. REGULAR ITEMS
A. Review and accept the KEDC Financial Report for July 2017
B. Discuss and approve the FY2017-18 purposed Economic Development budget
C. Discuss and consider approval of gas/oil lease agreement with GHA Barnett, LLC
V. STAFF ANNOUNCEMENTS/REPORTS
In addition to any specific matters listed below, the Economic Development Corporation Board of
Directors may receive a report about items of community interest, including but not limited to
recognition of individual officials, citizens or departments, information regarding holiday schedules,
upcoming or attended events, etc.
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 August 22, 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: August 22, 2017
Agenda Item No: MINUTES APPROVAL - A.
I. Subject:
Consider approval of the minutes from the July 25, 2017 regular meeting
II. Summary:
Minutes are prepared by the Deputy City Secretary and ready for approval.
III. Recommendation:
Approve
IV. Alternative Actions:
V. Attachments:
1. Economic Development Corporation Meeting Minutes - July 25, 2017 7-25-17. df
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KENNEDALE
Kennedale Economic
Development www.ci yofi(enn Corporation rn ECONOMIC DEVELOPMENT CORPORATION
BOARD OF DIRECTORS - REGULAR MEETING
MINUTES
July 25, 2017
I. CALL TO ORDER
President Robert Mundy called the meeting to order at 7:03 p.m.
II. ROLL CALL
Present: Michael Johnson, Adrienne Kay, Rebecca Carlton, Robert Mundy, Pat Turner, Mark
Yeary, and Ronald Whitley (in at 7:23 p.m.)
Absent: None
III. MINUTES APPROVAL
A. Consider approval of the minutes from the June 27, 2017 regular meeting
Motion To approve the June 27, 2017 Economic Development Corporation regular meeting
minutes. Action Approve, Moved By Rebecca Carlton, Seconded By Michael Johnson.
Motion passed Unanimously
B. Consider approval of the minutes from the July 6, 2017 special meeting
Motion To approve the July 6, 2017 Economic Development Corporation special meeting
minutes. Action Approve, Moved By Michael Johnson, Seconded By Mark Yeary.
Motion passed Unanimously
IV. REGULAR ITEMS
A. Review and accept the KEDC Financial Report for June 2017
Finance Director Brady Olsen provided an overview of the June financial report for the
Economic Development Corporation. He reported that sales tax was down overall with June
revenues being the lowest of the year. There was discussion regarding the format of the
report, and a request was made that the TownCenter revenue and expenses be separate line
items.
Motion To approve the June 2017 financial report for the Economic Development Corporation.
Action Approve, Moved By Rebecca Carlton, Seconded By Adrienne Kay.
Motion passed Unanimously
B. Discuss KEDC priorities and budget development for FY 2017-2018.
Director Jack Thompson reported on the Economic Development Corporation (EDC) priorities
for the FY 2017-2018 budget year. He stated that the EDC will be focusing on what they
currently have underway, along with leasing TownCenter and selling property at Bloxom Park.
There were discussions regarding sources of funding for the EDC, the 3% administrative fee
paid by the EDC, and the status of the future hotel project.
Jack stated that the FY 2017-2018 budget will be very lean with most of it being committed to
debt services.
V. STAFF ANNOUNCEMENTS/REPORTS
A. TownCenter
B. Oak Crest
C. Chamber of Commerce
Director Jack Thompson reported on ongoing projects, stating that the demolition of the old
Chicken Express building is complete. He will move forward with bids for the driveway as soon
the Engineer approves the plans. He added that City Council approved the two tenant lease
agreements at TownCenter, and the finish is scheduled to start next week.
Jack informed the Board that there have not been any new developments with the sale of the
Oak Crest property.
Jack reported for the Chamber, stating that programs have been light due to summer
schedules. Adding that in August they will have a Coffee Chat event with McDonald's
sponsoring the food, and a luncheon presentation on data and cyber security, sponsored by
Life Fellowship Church. Additional items of interest included updates on their upcoming
business after hours event and a golf tournament.
VI. EXECUTIVE SESSION
President Mundy recessed into executive session at 7:45 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 7:58 p.m. No action was necessary pursuant
to the Executive Session.
The next regularly scheduled meeting of the Economic Development Corporation will be
August 22, 2017.
VIII. ADJOURNMENT
Motion To adjourn. Action Adjourn, Moved By Ronald Whitley, Seconded By Pat Turner.
Motion passed Unanimously
The meeting was adjourned at 8:00 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: August 22, 2017
Agenda Item No: REGULAR ITEMS - A.
I. Subject:
Review and accept the KEDC Financial Report for July 2017
II. Summary:
Finance Director Brady Olsen will provide an overview of the July 2017 Kennedale Economic
Development Corporation Financial Report.
III. Recommendation:
Approve
IV. Alternative Actions:
V. Attachments:
1. July Financials kOl 7 07 Monthly Financials - EDC. df
IJuly Sales Tax Update ISales Tax Update- July EDC. df
CITY OF KENNEDALE
ANNUAL PROGRAM OF SERVICES
July
ECONOMIC DEVELOPMENT CORPORATION FINANCIALS SUMMARY
Budget Amendment
No amendments.
Monthly Information
Only unique expense is the beginning of construction for the entryway pavement
Sales Tax up in July, near where it was projected. Largely driven in growth from wholesale.
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 July
FY16-17
CATEGORY YTD
BEGINNING CASH BALANCE - FUND 15 $ (78,065)
BEGINNING TEXPOOL BALANCE - FUND 15 $ -
BEGINNING TEXPOOL BALANCE - FUND 19 $ 29,660
BEGINNING CASH BALANCE - FUND 95 $ 120,446
BEGINNING CASH BALANCE - TOTAL $ 72,040
ENDING CASH BALANCE - FUND 15 $ (62,572)
ENDING TEXPOOL BALANCE - FUND 15 $ -
ENDING TEXPOOL BALANCE - FUND 19 $ 29,685
ENDING CASH BALANCE - FUND 95 $ 120,513
ENDING CASH BALANCE - TOTAL $ 87,626
UNAVAILABLE CASH - EARMARKED
INSURANCE MONEY-HAIL DAMAGE TOWN CENTER $ 74,417.31
2010$2.OM BOND SALE REMAINING CASH $ 29,684.50
RESERVES FOR LEVERAGE NOTE $ 120,513.48
TOTAL UNAVAILABLE CASH $ 224,615.29
AVAILABLE CASH $ (136,988.84)
"YOU'RE HERE. YOUR HOME."
CITY OF KENNEDALE
ANNUAL PROGRAM OF SERVICES
July
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 $ 70,127 $ 223,522
AD VALOREM TAXES 34,335 34,335 48,462 - 2,360 100.0% 4.9% 46,102
SALES/BEVERAGE TAXES 248,234 376,545 349,351 33,809 242,842 65.9% 69.5% 106,510
INVESTMENT EARNINGS 275 333 260 92 605 82.4% 232.8% (345)
MISCELLANEOUS INCOME 35,581 115,841 435,796 4,100 67,791 30.7% 15.6% 368,004
SURPLUS SALES/RENTALS 113,604 100,606 99,358 5,394 69,567 112.9% 70.0% 29,791
TOTAL REVENUES $ 432,028 $ 627,660 $ 933,227 $ 43,395 $ 383,165 68.8% 41.1% $ 550,062
SUPPLIES 5,110 5,110 3,100 - - 100.0% 0.0% 3,100
MAINTENANCE 18,097 19,709 95,403 5,193 19,931 91.8% 20.9% 75,472
SUNDRY 260,420 353,786 291,959 16,996 161,991 73.6% 55.5% 129,967
DEBT 157,628 166,773 168,600 4,680 159,898 94.5% 94.8% 8,702
TRANSFERS 151,919 151,919 154,819 - 154,819 100.0% 100.0% -
CAPITAL - 20,707 90,000 9,000 32,080 0.0% 35.6% 57,920
TOTAL EXPENDITURES $ 593,173 $ 718,004 $ 803,880 $ 35,869 $ 528,720 82.6% 65.8% $ 275,161
REVENUES OVER EXPENDITURES $ (161,145) $ (90,344) $ 129,347 $ 7,527 $ (145,554)
ENDING FUND BALANCE $ 152,721 $ 223,522 $ 378,209 $ 77,654 $ 77,967
FUND BALANCE AS%OFEXP 25.7% 31.1% 47.0% 216.5% 14.7%
RESERVE($115,000)REQUIREMENT) $ - $ - $ 115,000 $ - $ -
RESERVE SURPLUS/(SHORTFALL) $ 152,721 $ 223,522 $ 263,209 $ 77,654 $ 77,967
"YOU'RE HERE.YOUR HOME."
CITY OF KENNEDALE
ANNUAL PROGRAM OF SERVICES
July
15:EDC413 FUND
FY15-16 FY15-16 CURRENT FY16-17 %OFPYACTUAL %OFCYBUDGET BUDGET
CATEGORY YTD ACTUAL 1C01T�0 MONTH YTD USED USED REMAINING
BEGINNING FUND BALANCE $ 164,460 $ 164,460 $ 99,198 $ (79,665) $ 73,861
AD VALOREM TAXES 34,335 34,335 48,462 - 2,360 100.0% 4.9% 46,102
SALES/BEVERAGE TAXES 248,234 376,545 349,351 33,809 242,842 65.9% 69.5% 106,510
INVESTMENT EARNINGS 72 78 40 - 68 92.8% 171.2% (28)
MISCELLANEOUS INCOME 35,581 115,841 435,796 4,100 67,791 30.7% 15.6% 368,004
SURPLUS SALES/RENTALS 113,604 100,606 99,358 5,394 69,567 112.9% 70.0% 29,791
TOTAL REVENUES $ 431,826 $ 627,405 $ 933,007 $ 43,303 $ 382,628 68.8% 41.0% $ 550,379
SUPPLIES 5,110 5,110 3,100 - - 100.0% 0.0% 3,100
MAINTENANCE 18,097 19,709 95,403 5,193 19,931 91.8% 20.9% 75,472
SUNDRY 260,420 353,786 291,959 16,996 161,991 73.6% 55.5% 129,967
DEBT 157,628 166,773 168,600 4,680 159,898 94.5% 94.8% 8,702
TRANSFERS 151,919 151,919 154,819 - 154,819 100.0% 100.0% -
CAPITAL - 20,707 90,000 9,000 32,080 0.0% 35.6% 57,920
TOTAL EXPENDITURES $ 593,173 $ 718,004 a 803,880 $ 35,869 $ 528,720 82.6% 65.8% $ 275,161
REVENUES OVER EXPENDITURES $ (161,347) $ (90,599) $ 129,127 $ 7,435 $ (146,091)
ENDING FUND BALANCE $ 3,113 $ 73,861 $ 228,324 $ (72,231) $ (72,231)
FUND BALANCE AS% EXP 0.5% 10.3% 28.4% -201.4% -13.7%
RESERVE(NO REQUIREMENT) $ - $ - $ $ - $ -
RESERVE SURPLUS/(SHORTFALL) $ 3,113 $ 73,861 $ 228,324 $ (72,231) $ (72,231)
"YOU'RE HERE.YOUR HOME:"
CITY OF KENNEDALE
ANNUAL PROGRAM OF SERVICES
July
15:EDC4BFUND
FY15-16 FY15-16 FY16-17 CURRENT FY16-17 %OFPYACTUAL %OFCY BUDGET BUDGET
ACCOUNT ACCOUNT NAME YTD ACTUAL ADOPTED MONTH YTD USED USED REMAINING
4002-00-00 MMD TAX-CURRENT YEAR 34,335 34,335 48,462 - 2,360 100.0% 4.9% 46,102
AD VALOREM TAXES $ 34,335 $ 34,335 $ 48,462 $ - $ 2,360 100.0% 4.9% $ 46,102
4081-00-00 SALES TAX 248,234 376,545 349,351 33,809 242,842 65.9% 69.5% 106,510
SALES/BEVERAGE TAXES $ 248,234 $ 376,545 $ 349,351 $ 33,809 $ 242,842 65.9% 69.5% $ 106,510
4401-00-00 INVESTMENT INCOME 72 78 40 - 68 92.8% 171.2% (28)
INVESTMENT EARNINGS $ 72 $ 78 : 40 $ - $ 68 92.8% 171.2% $ (28)
4409-00-00 MISCELLANEOUS INCOME 35,581 115,841 435,796 4,100 67,791 30.7% 15.6% 368,004
MISCELLANEOUS INCOME $ 35,581 $ 115,841 $ 435,796 $ 4,100 $ 67,791 30.7% 15.6% $ 368,004
4805-00-00 RENTAL FEES-SHOPPING CENTER 111,512 98,580 98,612 5,394 69,206 113.1% 70.2% 29,406
4806-00-00 RENTAL INSURANCE 2,092 2,026 746 - 361 103.3% 48.4% 385
SURPLUS SALES/RENTALS $ 113,604 $ 100,606 $ 99,358 $ 5,394 $ 69,567 112.9% 70.0% $ 29,791
TOTAL REVENUES $ 431,826 $ 627,405 $ 933,007 $ 43,303 $ 382,628 68.8% 41.0% $ 550,379
TOTAL REVENUES(EXCLUDING INTEREST/TRANSFERS) $ 431,754 $ 627,327 $ 932,967 $ 43,303 $ 382,560
10%ADMIN CHARGE-GENERAL FUND 93,297
"YOU'RE HERE.YOUR HOME."
CITY OF KENNEDALE
ANNUAL PROGRAM OF SERVICES
July
15:EDC4BFUND
01:ADMINISTRATION
FY15-16 FY15-16 FY16-17 CURRENT FY16-17 %OFPY ACTUAL %OFCYBUDGET BUDGET
ACCOUNT ACCOUNT NAME YTD ACTUAL ADOPTED MONTH YTD USED USED REMAINING
5240-01-00 PRINTED SUPPLIES 5,110 5,110 3,000 100.0% 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 $ 5,110 3,100 $ - $ - 100.0% 0.0% $ 3,100
5501-01-00 ADVERTISING 230 210 2,200 390 390 109.5% 17.7% 1,810
5510-01-00 ASSOC DUES/PUBLICATIONS 5,356 5,356 5,320 4,850 100.0% 91.2% 470
5525-01-00 TRAINING/SEMINARS - 525 250 - - 0.0% 0.0% 250
5565-01-00 LEGAL SERVICES 4,712 5,662 7,000 1,257 8,689 83.2% 124.1% (1,689)
5567-01-00 AUDIT SERVICES 2,000 2,000 2,250 2,250 100.0% 100.0%
5570-01-00 SPECIAL SERVICES 78,558 140,283 68,650 5,700 69,745 56.0% 101.6% (1,095)
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 53,610 55,070 6,000 2,128 97.3% 35.5% 3,873
5595-01-00 ADMIN CHARGE-GENERAL FUND 41,530 56,796 93,297 4,330 38,256 73.1% 41.0% 55,041
5610-01-00 VISUAL GRANT 4,843 11,122 50,000 - - 43.5% 0.0% 50,000
5615-01-00 FUNCTIONAL GRANT 48,047 51,850 32,000 205 11,146 92.7% 34.8% 20,854
SUNDRY $ 238,886 $ 328,873 $ 267,067 $ 11,883 $ 137,493 72.6% 51.5% $ 129,573
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% #DIWO! $ (22,000)
TOTAL EXPENDITURES $ 243,996 $ 335,951 270,167 $ 11,883 $ 159,493 72.6% 59.0% $ 110,673
"YOU'RE HERE.YOUR HOME."
CITY OF KENNEDALE
ANNUAL PROGRAM OF SERVICES
J my
15:EDC4B FUND
01:ADMINISTRATION
03:DEBTSERVICE
FY15-16 FY15-16 FY16-17 CURRENT FY16-17 %OFPYBUDGET %OFCYBUDGET BUDGET
ACCOUNT ACCOUNT NAME YTD ACTUAL ADOPTED MONTH YFD USED USED REMAINING
5643-01-03 2007$1.2M TAX BOND-INTEREST 62,135 62,135 58,728 - 58,689 100.0% 99.9% 39
5644-01-03 2007$1.2M TAX BOND-PRINCIPAL 50,000 50,000 55,000 - 55,000 100.0% 100.0% -
5645-01-03 2011$1.7M TX LEVERAGE-INT 13,185 15,930 15,672 815 12,819 82.8% 81.8% 2,854
5646-01-03 2011$1.7M TX LEVERAGE-PRI 32,308 38,709 39,200 3,865 33,391 83.5% 85.2% 5,809
DEBT $ 157,628 $ 166,773 $ 168,600 $ 4,680 $ 159,898 94.5% 94.8% $ 8,702
5702-01-03 TRANSFER OUT-DEBT SERVICE FUND 151,919 151,919 154,819 - 154,819 100.0% 100.0% -
TRANSFER $ 151,919 $ 151,919 $ 154,819 $ - $ 154,819 100.0% 100.0% $ -
TOTAL EXPENDITURES $ 309,547 $ 318,692 $ 323,4 $ 4,680 $ 314,717 97.1% 97.3% $ 8,702
"YOU'RE HERE.YOUR HOME."
CITY OF KENNEDALE
ANNUAL PROGRAM OF SERVICES
J my
15:EDC46 FUND
02:TOWN SHOPPING CENTER
FY15-16 FY15-16 1x151' CURRENT FY16-17 %OFPYACTUAL %OFCYBUDGET BUDGET
ACCOUNT ACCOUNT NAME YTD ACTUAL =DO--TED MONTH YTD USED USED REMAINING
5403-02-00 BUILDING MAINTENANCE 18,097 19,709 5,193 19,931 91.8% 20.9% 75,472
MAINTENANCE $ 18,097 $ 19,709 5 95,403 $ 5,193 $ 19,931 91.8% 20.9% $ 75,472
5530-02-00 ELECTRIC SERVICES 4,253 5,401 374 5,072 78.7% 101.4% (72)
5545-02-00 INSURANCE-PROPERTY 6,121 6,121 6,507 100.0% 100.1% (7)
5570-02-00 SPECIAL SERVICES 11,160 13,392 4,739 12,919 83.3% 96.5% 473
SUNDRY $ 21,534 $ 24,914 2^.892 $ 5,113 $ 24,498 86.4% 98.4% $ 394
TOTAL EXPENDITURES $ 39,630 $ 44,622 5 ..,..�'1 10,306 $ 44,430 88.8% 36.9% $ 75,866
"YOU'RE HERE.YOUR HOME."
CITY OF KENNEDALE
ANNUAL PROGRAM OF SERVICES
J my
15:EDC46 FUND
03: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
5580-03-00 ENGINEERING SERVICES - - 10,000 - - 0.0% 0.0% 10,000
5847-03-00 CONSTRUCTION - - 80,000 9,000 10,080 0.0% 12.6% 69,920
CAPITAL $ - $ - $ 90,000 $ 9,000 $10,080 0.0% 11.2% $ 79,920
TOTAL EXPENDITURES $ - $ - S 90,000 $ 9,000 $10,080 0.0% 11.2% $ 79,920
"YOU'RE HERE.YOUR HOME."
CITY OF KENNEDALE
ANNUAL PROGRAM OF SERVICES
J my
15:EDC46 FUND
04:TEXAS LEVERAGE PROGRAM
FY15-16 FY15-16 P0617 CURRENT FY16-17 %OFPYACTUAL %OFCYBUDGET BUDGET
ACCOUNT ACCOUNT NAME YTD ACTUAL u„OPTED 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 $ - $ - 0.0% 0.0% $ -
"YOU'RE HERE.YOUR HOME."
CITY OF KENNEDALE
ANNUAL PROGRAM OF SERVICES
J my
19:EDC46CAPITAL BOND FUND
FY15-16 FY15-16 FY16P' CURRENT FY16-17 %OFPYACTUAL %OFCYBUDGET BUDGET
CATEGORY YTD ACTUAL AD0MsF..iD MONTH YTD USED USED REMAINING
BEGINNING FUND BALANCE $ 29,444 $ 29,444 °_ $ 29,660 $ 29,529
INVESTMENT EARNINGS 67 85 24 155 78.2% 258.8% (95)
TOTAL REVENUES $ 67 $ 85 $ 24 $ 155 78.2% 258.8% $ (95)
CAPITAL - - - - 0.0% 0.0% -
TOTAL EXPENDITURES $ - $ - $ - $ - 0.0% 0.0% $ -
REVENUES OVER EXPENDITURES $ 67 $ 85 $ 24 $ 155
ENDING FUND BALANCE $ 29,511 $ 29,529 $ $ 29,684 $ 29,684
FUND BALANCEAS%OF EXP N/A N/A _. N/A N/A
RESERVE(NO REQUIREMENT)
RESERVE SURPLUS/(SHORTFALL) $ 29,511 $ 29,529 S 29,36 $ 29,684 $ 29,684
"YOU'RE HERE.YOUR HOME."
CITY OF KENNEDALE
ANNUAL PROGRAM OF SERVICES
J my
19:EDC46CAPITAL BOND FUND
FY15-16 FY15-16 FY16-17 CURRENT FY16-17 %OFPYACTUAL %OFCYBUDGET BUDGET
ACCOUNT ACCOUNT NAME YTD ACTUAL ADOPTED MONTH YTD USED USED REMAINING
4401-00-00 INVESTMENT INCOME 67 85 60 24 155 78.2% 258.8% (95)
INVESTMENT EARNINGS $ 67 $ 85 $ 60 $ 24 $ 155 78.2% 258.8% $ (95)
TOTAL REVENUES $ 67 $ 85 $ 60 $ 24 $ 155 78.2% 258.8% $ (95)
19:EDC46CAPITAL BOND FUND
01:TOWN CENTER REDEVELOPMENT
FY15-16 FY15-16 PY76 CURRENT FY16-17 %OFPYACTUAL %OFCYBUDGET BUDGET
ACCOUNT ACCOUNT NAME YTD ACTUAL a1GP•'>>, MONTH YTD USED USED REMAINING
5847-01-00 CONSTRUCTION - - - - 0.0% 0.0% -
CAPITAL $ - $ - $ - $ - 0.0% 0.0% $ -
TOTAL EXPENDITURES $ - $ - $ - $ - 0.0% 0.0% $ -
"YOU'RE HERE.YOUR HOME."
CITY OF KENNEDALE
ANNUAL PROGRAM OF SERVICES
J my
95:EDC46 RESERVE FUND
FY15-16 FY15-16 ..:.7., CURRENT FY16-17 %OFPYACTUAL %OFCYBUDGET BUDGET
CATEGORY YTD ACTUAL =!)f;?€D MONTH YTD USED USED REMAINING
BEGINNING FUND BALANCE $ 119,962 $ 119,962 5 17.»,147 $ 120,132 $ 120,132
INVESTMENT EARNINGS 136 170 68 382 79.8% 238.5% (222)
TOTAL REVENUES $ 136 $ 170 .: $ 68 $ 382 79.8% 238.5% $ (222)
TOTAL EXPENDITURES $ - $ - $ - $ - $ - 0.0% 0.0% $ -
REVENUES OVER EXPENDITURES $ 136 $ 170 $ 160 $ 68 $ 382
ENDING FUND BALANCE $ 120,098 $ 120,132 $ 120,301 $ 120,200 $ 120,514
FUND BALANCEAS%OF EXP N/A N/A N/A N/A N/A
RESERVE($112,606 REQUIREMENT) $ 112,606 $ 112,606 S 112,606 $ 112,606 $ 112,606
RESERVE SURPLUS/(SHORTFALL) $ 7,492 $ 7,526 $ 7,695 $ 7,594 $ 7,908
"YOU'RE HERE.YOUR HOME."
CITY OF KENNEDALE
ANNUAL PROGRAM OF SERVICES
J my
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 136 170 160 68 382 79.8% 238.5% (222)
INVESTMENT EARNINGS $ 136 $ 170 $ 160 $ 68 $ 382 79.8% 238.5% $ (222)
TOTAL REVENUES $ 136 $ 170 $ 160 $ 68 $ 382 79.8% 238.5% $ (222)
95:EDC46 RESERVE FUND
FY15-16 FY15-16 CURRENT FY16-17 %OFPYBUDGET %OFCYBUDGET BUDGET
ACCOUNT ACCOUNT NAME YTD ACTUAL MONTH YTD USED USED REMAINING
TRANSFERS $ - $ - $ - $ - 0.0% 0.0% $ -
TOTAL EXPENDITURES $ - $ - $ - $ - 0.0% 0.0% $ -
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KENNEDALE
Kennedale Economic
Development Corporation
www.cityofkennedale.com
STAFF REPORT TO THE BOARD OF DIRECTORS
Date: August 22, 2017
Agenda Item No: REGULAR ITEMS - B.
I. Subject:
Discuss and approve the FY2017-18 purposed Economic Development budget
II. Summary:
Director Jack Thompson will provide an overview of the proposed Economic Development
Corporation's FY2017-18 budget, as discussed at the July meeting.
III. Recommendation:
Approve
IV. Alternative Actions:
V. Attachments:
1. JEDC FYE 18 Proposed Budget JEDC FYE 18 Proposed Bud et. df
C I T Y O F K E N N E D A L E , T E X A S
A N N U A L P R O G R A M O F S E R V I C E S
15:EDC4BFUND
FY15-16 FY16-17 FY16-17 FY16-17 FY16-17 PROJECTED FY17-18 $$ %
ACCOUNT ACCOUNT NAME ACTUAL ADOPTED AMENDED MAY PROJECTED VS BUDGET PROPOSED CHANGE CHANGE
4002-00-00 MMDTAX-CURRENTYEAR 34,335 48,462 48,462 2,360 35,000 (13,462) 35,000 (13,462) -28%
ADVALOREMTAXES $ 34,335 $ 48,462 $ 48,462 $ 2,360 $ 35,000 $ (13,462) $ 35,000 $ (13,462) -281/o
4081-00-00 SALESTAX 376,545 349,351 349,351 182,122 342,000 (7,351) 373,835 24,484 7%
SALES/BEVERAGE TAXES $ 376,545 $349,351 $ 349,351 $182,122 $ 342,000 $ (7,351) $ 373,835 $ 24,484 7%
4401-00-00 INVESTMENT INCOME 78 40 40 68 73 33 65 25 63%
INVESTMENT EARNINGS $ 78 $ 40 $ 40 $ 68 $ 73 $ 33 $ 65 $ 25 63%
4409-00-00 MISCELLANEOUS INCOME 115,841 435,796 435,796 59,445 146,000 (289,796) 45,120 (390,676) -90%
MISCELLANEOUS INCOME $ 115,841 $435,796 $ 435,796 $ 59,445 $ 146,000 $ (289,796) $ 45,120 $(390,676) -901/o
4805-00-00 RENTAL FEES-SHOPPING CENTER 98,580 98,612 98,612 58,418 80,000 (18,612) 121,112 22,500 23%
4806-00-00 RENTAL INSURANCE 2,026 746 746 361 746 746
SURPLUSSALES/RENTALS $ 100,606 $ 99,358 $ 99,358 $ 58,779 $ 80,746 $ (18,612) $ 121,858 $ 22,500 23%
4902-00-00 PROCEEDS-DEBT/LOAN/LEASE - - - - - 29,719 29,719
TRANSFERS $ $ - $ - $ - $ - $ 29,719 $ 29,719
TOTAL REVENUES $ 627,405 r^ `"' $ 933,007 $302,774 $ 603,819 $ (329,188) $ 605,597 $(327,410) -35%
TOTAL REVENUES(EXCLUDING INTEREST/TRANSFERS) $ 627,327 $ 932,967 $302,706 $ (329,221) $ 575,813 $(357,154) -381/o
C I T Y O F K E N N E D A L E , T E X A S
A N N U A L PROGRAM OF SERVICES
15:EDC413 FUND
FY17-18
PROPOSED
4002-00-00 MMD TAX-CURRENT YEAR BASED ON FY1 3/14 ASSESSED VALUE OF$2,783,693 AND 35,000 3500
TOTALTAX RATEOF 2.880965 PER$100(MINUSTRACT 1 R FOR
SURPLUS)
CITY OF KENNEDALE:$0.747500
KEN NEDALE ISD:$1.492068
TARRANTCOUNTY:$0.264000
TARRANT HOSPITAL:$0.227897
TARRANTCOLLEGE:$0.149500
4081-00-00 SALESTAX GENERALLY BUDGET BASED ON PRIOR 3 YEARS OF HISTORY 373,835 373,835
4401-00-00 INVESTMENT INCOME EARNING BASED UPON AVERAGE BALANCE/INTERESTRATES 65 65
4409-00-00 MISCELLANEOUS INCOME SALE OF 1121 WEST KENNEDALE PARKWAY 45,120
(APACHE/NACHO/FOX/WHEELER/HUNDE PURCHASED
FY09/10)-3RD PADSITE,4TH PADSITE REMAINING
MONTHLY RENT FROM REDS ROADHOUSE($1750/MO-1 YEAR 21,000
LEASE EXTENSION)
MONTHLY FEE FROM CHAMBER FOR SERVICES($2000 MONTH) 24,000
TML INSURANCE CHECK FOR HAIL DAMAGE FOR BUILDING 1
($70,291.21-$27,042.44 FOR DEPRECIATION)
TML INSURANCE CHECK FOR HAIL DAMAGE FOR CHICKEN
EXPRESS($49,858.61-$22,029.33 FOR DEPRECIATION)
MONTHLY FEE FROM CHAMBER PER RENTAL AGREEMENT($10 120
MONTH)PLUS$100 DEPOSIT
4805-00-00 RENTAL FEES-SHOPPING CENTER CHICKEN EXPRESS ($2518 MONTH, RELOCATION JUL 2013, -
LEASE EXPIRES 05/31/17,GOES TO$0 UPON MOVE)
DOLLAR GENERAL($4719 MONTH,LEASE EXPIRES 07/31/17, 56,628
2%MANAGEMENT FEE FOR AT RENEWAI)
V FIT 12,000
BASEBALL($8400 MONTH) 10,500
PREPAID TENANT FEES RECEIVED BUT CORRESPONDING OFFSET 41,984
OCCURS WHEN BOOKED AGAINST CAM EXPENSES(EXCLUDES
RENTAL INSURANCE CAM)
4806-00-00 RENTAL INSURANCE RENTAL CAM COLLECTED ON LEASE AGREEMENTS AND THEN 746 746
USED TO PAY TML INSURANCE(OFFSETTING EXPENSE UNDER
TOWN SHOPPING CENTER)($62.16/MO)
TOTALREVENUES $ 575,878
C I T Y O F K E N N E D A L E , T E X A S
A N N U A L PROGRAM OF SERVICES
DEPARTMENT OUTLINE: ADMINISTRATION
FUNCTIONS
Provides administration for the general business of growing economic development using the EDC4B funds
HIGHLIGHTS AND GOALS ACCOMPLISHED
• Eliminated all Sexually Oriented Business buildings (SOB) (5.0)
• Secured McDonald's, Dickey's Barbeque, and new Chicken Express location (7.0)
• Helped with R E Watson Glass expansion (7.0)
SHORT-TERM GOALS
• Secure additional business for the employment district on Kennedale Parkway near Interstate 20 (7.0)
• Recruitment of new light manufacturing businesses within Bloxom Business Park and along east
Kennedale Parkway(7.0)
• Development of an access plan along Kennedale Parkway to facilitate the elimination of the
continuous turn lane (7.0)
LONG-TERM GOALS
■ Increase sales taxes to property taxes ratio from 25% to 50% (4.8)
STAFFING RESOURCES
■ Contract with Orasi for management services
PERFORMANCE MEASURES
THROUGH JUNE 2017
■ 4 Land Deals
• 3 380 Agreements to Businesses
■ 0 Visual Grants to Businesses
■ Pertinent 2015 Resident Satisfaction Survey Results
• Business Friendly—53%
• Shopping Opportunities—47%
235
C I T Y O F K E N N E D A L E , T E X A S
A N N U A L PROGRAM OF SERVICES
DEPARTMENT SUMMARY BUDGET
15:EDC4BFUND
01:ADMINISTRATION
FY15-16 FY16-17 FY16-17 FY16-17 FY16-17 PROJECTED FY 17-18 $$ %
ACCOUNTNAME ACTUAL ADOPTED AMENDED YTD MAY PROJECTED VS BUDGET PROPOSED CHANGE CHANGE
SUPPLIES 5,110 3,100 3,100 - 1,000 (2,100) 2,100 (1,000) -32%
SUNDRY 328,873 267,067 267,067 114,325 173,879 (93,187) 193,983 (73,084) -27%
CAPITAL 1,968 22,000 22,000 22000 -
TOTALEXPENDITURES $ 335,951 $ 270,167 $ 270,167 $ 136,325 `5 196,879 $ (7;287)I, $ 196,083 $ (74084)
15:EDC4BFUND
01:ADMINISTRATION
FY15-16 FY16-17 FY16-17 FY16-17 FY16-17 PROJECTED FY17-18 $$ %
ACCOUNT ACCOUNT NAME ACTUAL ADOPTED AMENDED MAY PROJECTED VS BUDGET PROPOSED CHANGE CHANGE
5240-01-00 PRINTED SUPPLIES 5,110 3,000 3,000 1,000 (2,000) 2,000 (1,000) -33%
5260-01-00 GENERAL OFFICE SUPPLIES - 50 50 - (50) 50
5261-01-00 POSTAGE - 50 50 - (50) 50
SUPPLIES $ 5,110 $ 3,100 $ 3,100 $ $ 1,000 $ (2,100) $ 2,100 $ (1,000) -32%
5501-01-00 ADVERTISING 210 2,200 2,200 780 (1,420) 1,200 (1,000) -451/c
5510-01-00 ASSOCDUES/PUBLICATIONS 5,356 5,320 5,320 4,850 5,150 (170) 5,320
5525-01-00 TRAINING/SEMINARS 525 250 250 - 250 - 250 -
5565-01-00 LEGALSERVICES 5,662 7,000 7,000 6,928 9,700 2,700 10,000 3,000 430/,
5567-01-00 AUDITSERVICES 2,000 2,250 2,250 2,250 2,250 - 2,250 -
5570-01-00 SPECIALSERVICES 140,283 68,650 68,650 58,345 82,000 13,350 68,650
5574-01-00 FILING FEES - - - 40 40 40 -
5578-01-00 TRAVEL - 100 100 - - (100) 100
5580-01-00 ENGINEERING SERVICES 55,070 6,000 6,000 2,128 2,128 (3,872) - (6,000)
5595-01-00 ADMIN CHARGE-GENERAL FUND 56,796 93,297 93,297 30,271 57,581 (35,715) 82,213 (11,084) -12%
5610-01-00 VISUALGRANT 11,122 50,000 50,000 - - (50,000) - (50,000)
5615-01-00 FUNCTIONALGRANT 51,850 32,000 32,000 9,514 14,000 (18,000) 24,000 (8,000) -25%
SUNDRY $ 328,873 $267,067 $ 267,067 $114,325 $ 173,879 $ (93,187) $ 193,983 $(73,084) -27%
5800-01-00 LAND 1,968 - 22,000 22,000 22,000 -
5813-01-00 KENNEDALE ENTRANCE SIGN - - - -
5820-01-00 BUILDING IMPROVEMENT
5875-01-00 CONSTRUCTION - - -
CAPITAL $ 1,968 S $ - $ 22,000 $ 22,000 $ - $
TOTAL EXPENDITURES $ 335,951 ' $ 270,167 $136,325 $ (73,287) $ 196,083 $(74,084) -27%
C I T Y O F K E N N E D A L E , T E X A S
A N N U A L PROGRAM OF SERVICES
15:EDC46FUND
01:ADMINISTRATION
FY17-18
PROPOSED
5240-01-00 PRINTEDSUPPLIES PRINTED M A PS OF ENTIRE CITY 2,000 2,000
5260-01-00 GENERAL OFFICE SUPPLIES FILES/FOLDERS/PAPER/PENCILS 50 50
5261-01-00 POSTAGE FORMAILOUTS/MARKETING PACKAGES 50 50
5501-01-00 ADVERTISING PROMOTIONAL ADVERTISING,LEGAL NOTICES AND BUDGET HEARING 1,200 1,200
AD($1200)
OAKCREST LAND SIGN($1000)
5510-01-00 ASSOCDUES/PUBLICATIONS TEXASECONOMIC DEVELOPMENT COMMISSION 200 5,320
CITY($1925)&EDC($1925)KEN NEDA LE CHAMBER MEMBERSHIP 3,850
DALLAS CHAMBER($870)&TX MONTHLY ECONOMIC GUIDE AD($0), 1,270
DALLASCHAMBER MAP ADD($400)
5525-01-00 TRAINING/SEMINARS EDC TRAINING THROUGH VARIOUS ASSOCIATIONS BY BOARD 250 250
5565-01-00 LEGAL SERVICES BILLABLE HOU IRS FOR CITY ATTORNEYON EDC RELATED PROJECTS(I.E., 10,000 10,000
HOTEL,OTHER POTENTIAL OPPORTUNITIES)
5567-01-00 AU DIT SERVICES PATTILLO,BROWN&HILL SERVICES FOR IN DEPENDENT ANNUALAUDIT 2,250
(FY11/12 $1500, FY12/13 $1500, FY13/14 $2K, FY14/15 $2K,
FY15/16$2250)
5570-01-00 SPECIALSERVICES TOWN CENTER CONSULTING FIRM (APPROXIMATELY$5500/MONTH 66,000
BEGINNING JUL 2014,TO INCLUDE$3500 FOR EDC SERVICES,$2000
FOR CHAMBER SERVICES) -$2000 DIRECT REVENUE OFFSET FROM
CHAMBER EACH MONTH
CONTRACT WITH MUNISERVICES FOR SALES TAX AUDIT SERVICES,35%
CONTINGENCY IF REALLOCATIONS ARE UNCOVERED DUE TO
REPORTING ERRORS(APPLIES TO FIRST 8 CONSECUTIVE REPORTING
QUARTERS FOLLOWING CORRECTION,SHARED 75%CITY/%25 EDC)
DUE NORTH MEDIA 250
WEBSITE MAINTENANCE BY CONSULTANT($200/MONTH) 2,400
5578-01-00 TRAVEL TRAVEL RELATED TO OTHER EDC TRAINING/SEMINARS BY 100
STAFF/BOARD
5580-01-00 ENGINEERING TIED TO POTENTIAL ACTIVITIES/PROJECTS(I.E.,HOTEL,ETC.)
5595-01-00 ADMIN CHARGE-GENERAL FUND C HARGEFOR SERVICES PROVIDED BYGENERAL FUND RESOURCES(10% 82,213
TOTA L REVENU ES EXCLUDING INTEREST/TRANSFERS)
5610-01-00 VISUALGRANT MONTGOMERY MANUFACTURING GRANT
NANCY'S LIQUOR GRANT
5615-01-00 FUNCTIONAL GRANT H2O 380SALESTAXAGREEMENT 24,000
WATSON G LASS 380 PROPERTY TAX AGREEMENT(MAY 2019)
H&O DIESUPPLY380 PROPERTY TAXAGREEMENT(MAY2019)
TOTAL EXPENDITURES
C I T Y O F K E N N E D A L E , T E X A S
A N N U A L PROGRAM OF SERVICES
DEPARTM�LIN Y %-/U Y I- DEBT SERVICE
FUNCTIONS
Provides debt-related transactions relating to economic development
DEPARTMENT SUMMARY BUDGET
15:EDC4BFUND
01:ADMINISTRATION
03:DEBTSERVICE
FY15-16 FY16-17 FY16-17 FY16-17 FY16-17 PROJECTED FY 17-18 $$ %
ACCOUNTNAME ACTUAL ADOPTED AMENDED YTD MAY PROJECTED VS BUDGET PROPOSED CHANGE CHANGE
DEBT 166,773 168,600 168,600 150,539 (38) 169,777 1,178 1%
TRANSFER 151,919 154,819 154,819 154,819 0 152,588 (2,231) -1%
TOTAL EXPENDITURES $ 318,692 $ 323,419 $ 323,419 $ 305,358 $ 323,380 $ (38) $ 322,365 $ (1,054)
15:EDC46FUND
01:ADMINISTRATION
03:DEBT SERVICE
FY15-16 FY16-17 FY16-17 FY16-17 FY16-17 PROJECTED FY17-18 $$ %
ACCOUNT NAME ACTUAL ADOPTED AMENDED MAY PROJECTED VS BUDGET PROPOSED CHANGE CHANGE
2007$1.2M TAX BOND-INTEREST 62,135 58,728 58,728 58,689 58,689 (39) 54,905 (3,823) -7%
2007$1.2M TAX BOND-PRINCIPAL 50,000 55,000 55,000 55,000 55,000 - 60,000 5,000 9%
2011$1.7M TX LEVERAGE-INT 15,930 15,672 15,672 10,537 15,672 - 14,278 (1,394) -9%
2011$1.7M TX LEVERAGE-PRI 38,709 39,200 39,200 26,313 39,200 0 40,594 1,394 4%
DEBT $ 166,773 $168,600 $ 168,600 $150,539 $ 168,561 $ (38) $ 169,777 $ 1,178 1%
TRANSFER OUT-DEBT SERVICE FUND 151,919 154,819 154,819 154,819 154,819 0 152,588 1,300 1%
TRANSFER $ 151,919 $154,819 $ 154,819 $154,819 $ 154,819 $ 0 $ 152,588 $ 1,300 1%
TOTAL EXPENDITURES $ 318,692 $ 323,419 $305,358 $ 323,380 $ (38) $ 322,365 $ 2,477 1%
C I T Y O F K E N N E D A L E , T E X A S
A N N U A L PROGRAM OF SERVICES
DEPARTMENT OUTLINE TOWNCENTER SHOPPING
FUNCTIONS
Provides services and maintenance to TownCenter merchants
HIGHLIGHTS AND GOALS ACCOMPLISHED
• Secured Dickey's Barbeque(7.0)
• Secured Station 287 Bar &Grill (7.0)
• Secured new Chicken Express location(7.0)
• Secured new dental office: Kennedale Family Dental and Orthodontics in TownCenter(7.0)
• Renovated Building One space(7.0)
SHORT-TERM GOALS
■ Demolition of old Chicken Express building and finishing out of parking lot (7.0)
LONG-TERM GOALS
• Build out of all planned buildings of TownCenter (7.0)
• Secure a sit down restaurant in TownCenter(7.0)
• Have all locations in TownCenter filled with businesses (7.0)
STAFFING RESOURCES
■ Contract with Hughes Commercial Real Estate &Development for management of TownCenter
PERFORMANCE MEASURES
THROUGH JUNE 2C
■ New Businesses in TownCenter Shopping Area: 3
DEPARTMENT SUMMARY BUDGET
15:EDC4BFUND
02:TOWN SHOPPING CENTER
FY15-16 FY16-17 FY16-17 FY16-17 FY16-17 PROJECTED FY 17-18 $$ %
ACCOUNTNAME ACTUAL ADOPTED AMENDED YTDMAY PROJECTED YS BUDGET PROPOSED CHANGE CHANGE
MAINTENANCE 19,709 95,403 95,403 13,264 90,000 (5,403) 25,112 (70,291) -74%
SUNDRY 24,914 24,892 24,892 18,223 22,937 (1,955) 20,250 (4,642) -19%
TOTAL EXPENDITU RES $ 44,622 $ 120,295 $ 120,295 $ 31,487 $ 112,937 $ (7,358) $ 45,362 $ (74,933) -92%
C I T Y O F K E N N E D A L E , T E X A S
A N N U A L PROGRAM OF SERVICES
15:EDC4BFUND
02:TOWN SHOPPING CENTER
FY15-16 FY16-17 FY16-17 FY16-17 FY16-17 PROJECTED FY17-18 $$ %
ACCOUNTNAME ACTUAL ADOPTED AMENDED MAY PROJECTED VS BUDGET PROPOSED CHANGE CHANGE
BUILDING MAINTENANCE 19,709 95,403 95,403 13,264 90,000 (5,403) 25,112 (70,291) -74%
MAINTENANCE $ 19,709 $ 95,403 $ 95,403 $13,264 $ 90,000 $ (5,403) $ 25,112 $ (70,291) -74%
ELECTRIC SERVICES 5,401 5,000 5,000 4,185 6,700 1,700 6,700 1,700 34%
INSURANCE-PROPERTY 6,121 6,500 6,500 6,507 6,507 7 6,500 -
SPECIAL SERVICES 13,392 13,392 13,392 7,530 9,730 (3,662) 7,050 (6,342) -47%
SUNDRY $ 24,914 $ 24,892 $ 24,892 $18,223 $ 22,937 $ (1,955) $ 20,250 $ (4,642) -19%
TOTAL EXPENDITURES $ 44,622 $ 120,295 $ 120,295 $31,487 $ 112,937 $ (7,358) $ 45,362 $ (74,933) -62%
15:EDC4B FU N D
02:TOWN SHOPPING CENTER
FY17-18
PROPOSED
5403-02-00 BUILDING MAINTENANCE WATER($460/MONTH) 5,520
FIRE SPRINKLER-CAM($200/QUARTER) 800
TML HAIL DAMAGESON BUILDING 1
LANDSCAPE/MATERIALS-CAM($1166/MONTH) 13,992
MAINTENANCE-CAM($400/MONTH) 4,800
5530-02-00 ELECTRIC SERVICES ELECTRICITY-CAM 6,700
5545-02-00 INSURANCE-PROPERTY COVERAGETHROUGH TEXASMUNICIPAL LEAGUE(CHICKEN 6,500
EXPRESS/DOLLAR GENERAL BUILDING ON TML SCHEDULE,
ALL OTHER BUILDINGS CARRIED ON CYPRESS INSURANCE)
5570-02-00 SPECIAL SERVICES PROPERTY/ASSET MANAGEMENT($500 PER MONTH) 6,000
SEP 2015-FEB 2017:SUBWAY$150,ACE$466 OR$7392
FYI 5/16-FYI 6/17 ANNUAL
MAR 2017-AUG 2018:SUBWAY$1500R$1800 FYI 7/18 1,050
ANNUAL
TOTAL EXPENDITURES
C I T Y O F K E N N E D A L E , T E X A S
A N N U A L PROGRAM OF SERVICES
DEPARTMENT OUTLINE: TOWNCENTER REDEVELOPMENT
FUNCTIONS
Growth and redevelopment of the TownCenter shopping center
HIGHLIGHTS AND GOALS ACCOMPLISHED
• Secured Dickey's Barbeque (7.0)
• Secured new Chicken Express location (7.0)
• Secured Station 287 Bar &Grill (7.0)
• Secured new dental office Kennedale Family Dental and Orthodontics in TownCenter (7.0)
• Renovated Building One space (7.0)
• Demolition of old Chicken Express building and finishing out of parking lot (7.0)
GOALS
• Build out of all planned buildings of TownCenter (7.0)
• Secure a sit down restaurant in TownCenter (7.0)
• Have all locations in TownCenter filled with businesses (7.0)
DEPARTMENT SUMMARY BUDGET
15:EDC4BFUND
03:TOWN CENTER REDEVELOPMENT
FY15-16 FY16-17 FY16-17 FY16-17 FY16-17 PROJECTED FY 17-18 $$ %
ACCOUNTNAME ACTUAL ADOPTED AMENDED YTDMAY PROJECTED VS BUDGET PROPOSED CHANGE CHANGE
CAPITAL 90,000 90,000 1,080 60,0' (30,000) - (90,000)
TOTAL EXPEN DITU RES $ $ 90,000 $ 90,000 $ 1,080 $ 60,0( $ (30,000) $ (90,000)
15:EDC4B FUND
03:TOWN CENTER REDEVELOPMENT
FY15-16 FY16-17 FY16-17 FY16-17 FY16-17 PROJECTED FY17-18 $$ %
ACCOUNTNAME ACTUAL ADOPTED AMENDED MAY PROJECTED VS BUDGET PROPOSED CHANGE CHANGE
ENGINEERING SERVICES 10,000 10,000 - 8,000 (2,000) (10,000)
CONSTRUCTION 80,000 80,000 1,080 52,000 (28,000) (80,000)
CAPITAL $ $ 90,000 $ 90,000 $ 1,080 $ 60,000 $ (30,000) $ $(90,000)
TOTAL EXPENDITURES $ $ 90,000 $ 90,000 $ 1,080 $ 60,000 $ (30,000) $ $(90,000)
C I T Y O F K E N N E D A L E , T E X A S
A N N U A L PROGRAM OF SERVICES
DEPARTMENT OUTLINF TEXAS LEVERAGE PROGRAM
FUNCTIONS
Expand our economic development presence
HIGHLIGHTS AND GOALS ACCOMPLISHED
■ Secured land for development opportunity
DEPARTMENT SUMMARY BUDGET
15:EDC4B FUND
04:TEXAS LEVERAGE PROGRAM
FY15-16 FY16-17 FY16-17 FY16-17 PROJECTED FY17-18 $$ %
ACCOUNT NAME ACTUAL ADOPTED AMENDED MAY VSBUDGET PROPOSED CHANGE CHANGE
LAND 18,739
CAPITAL $ 18,739 5 $ $ $ $ $ $
TOTAL EXPENDITURES $ 18,739 $ $ $ $ $ $ $
19:EDC413 CAPITAL BOND FUND
FY15-16 FY16-17 FY16-17 FY16-17 FY16-17 PROJECTED FY17-18 $$ %
CATEGORY ACTUAL ADOPTED AMENDED MAY PROJECTED VS BUDGET PROPOSED CHANGE CHANGE
BEGINNING FUND BALANCE $ 29,444 $ 29,524 '$ 29,529 $29,529 $ 29,529 $ 29,719
INVESTMENT EARNINGS 85 1 60 60 109 190 130 - (60)
TOTAL REVENUES $ 85 $ 60 $ 60 $ 109 $ 190 $ 130 $ $ (60)
CAPITAL - - - - - - -
DEBTSERVICE 29,719 29,719
TOTAL EXPENDITURES $ $ $ $ - $ 29,719 $ 29,719
REVENUES OVER EXPENDITURES $ 85 S $ 60 $ 109 $ 190 $ 130 $ (29,719)
ENDINGFUNDBALANCE $ 29,529 $ 29,589 $29,638 $ 29,719 $ 0
FUND BALANCEAS%OF EXP N/A N/A N/A N/A N/A
RESERVE(NO REQUI REMENT) $ $ - $ - $ - $
RESERVE SURPLUS/(SHORTFALL)
C I T Y O F K E N N E D A L E , T E X A S
A N N U A L PROGRAM OF SERVICES
19:EDC4B CAPITAL BOND FUND
FY15-16 FY16-17 FYI 6-17 FY16-17 FY16-17 PROJECTED FYI 7-18 $$ %
ACCOUNT NAME ACTUAL ADOPTED AMENDED MAY PROJECTED VS BUDGET PROPOSED CHANGE CHANGE
INVESTMENT INCOME 85 60 60 109 190 130 (60)
INVESTMENT EARNINGS $ 85 $ 60 $ 60 $ 109 S 190 $ 130 $ $ (60)
TOTAL REVENUES $ 85 $ 60 $ 60 $ 109 $ 190 $ 130 $ $ (60)
19:EDC4B CAPITAL BOND FUND
01:TOWN CENTER REDEVELOPMENT
FY15-16 FY16-17 FYI 6-17 FY16-17 FY16-17 PROJECTED FYI 7-18 $$ %
ACCOUNT NAME ACTUAL ADOPTED AMENDED MAY PROJECTED VS BUDGET PROPOSED CHANGE CHANGE
CAPITAL $ $ $ $ $ $ $ $
TRANSFER FOR DEBTSERVICE $ 29,719 $ 29,719
DEBTSERVICE $ $ $ $ $ $ $ 29,719 $ 29,719
TOTAL EXPENDITURES $ $ $ $ $ $ $ 29,719 $ 29,719
95:EDC4B RESERVE FUND
FY15-16 I FY16-17 FY16-17 FY16-17 FY16-17 PROJECTED FYI 7-18 $$ %
CATEGORY ACTUAL ADOPTED AMENDED MAY PROJECTED VSBUDGET PROPOSED CHANGE CHANGE
BEGINNING FUND BALANCE $ 119,962 $120,141 "$ 120,141 $ 120,132 $ 120,132 $ 120,582
INVESTMENT EARNINGS 170 160 160 257 450 290 300 140 88%
TOTAL REVENUES $ 170 $ 160 $ 160 $ 257 $ 450 $ 290 $ 300 $ 140 88%
TOTAL EXPENDITURES $ $ - $ - $ - $ $
REVENUESOVER EXPENDITURES $ 170 S 150 $ 160 $ 257 $ 290 $ 300
ENDING FUND BALANCE $ 120,132 $120,301 $ 120,301 $ 120,390 $ 120,582 $ 120,882
FUND BALANCE AS%OF EXP
RESERVE($112,606 REQUIREMENT) $ 112,606 $ 112,606 $ 112,606 $ 112,606 $ 112,606 $ 112,606
RESERVE SURPLUS/(SHORTFALL) $ 7,526 $ 7,695 $ 7,695 $ 7,784 $ 7,976 $ 8,276
ic
KENNEDALE
Kennedale Economic
Development Corporation
www.cityofkennedale.com
STAFF REPORT TO THE BOARD OF DIRECTORS
Date: August 22, 2017
Agenda Item No: REGULAR ITEMS - C.
I. Subject:
Discuss and consider approval of gas/oil lease agreement with GHA Barnett, LLC
II. Summary:
The City of Kennedale and the Kennedale Economic Development Corporation (KEDC) have been
approached by GHA Barnett, LLC to determine the interest in KEDC leasing the mineral rights. A
meeting is set with GHA Barnett, LLC and staff prior to the KEDC Board meeting but not before the
publication of the agenda packet. Staff will provide information at the board meeting regarding GHA
Barnett's proposal.
III. Recommendation:
Approve
IV. Alternative Actions:
V. Attachments:
ic
KENNEDALE
Kennedale Economic
Development Corporation
www.cityofkennedale.com
STAFF REPORT TO THE BOARD OF DIRECTORS
Date: August 22, 2017
Agenda Item No: STAFF ANNOUNCEMENTS/REPORTS - A.
I. Subject:
TownCenter
B. Oak Crest
C. Chamber of Commerce
II. Summary:
The Director will provide an update on these items.
• TownCenter
• Oak Crest
• Chamber of Commerce Report
III. Recommendation:
None
IV. Alternative Actions:
V. Attachments:
ic
KENNEDALE
Kennedale Economic
Development Corporation
www.cityofkennedale.com
STAFF REPORT TO THE BOARD OF DIRECTORS
Date: August 22, 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. Summary:
The Economic Development Corporation will meet in Executive Session.
III. Recommendation:
IV. Alternative Actions:
V. Attachments: