2017_09.26 EDC Packet ic
KENNEDALE
Kennedale Economic
Development Corporation
www.cityofkennedale.com
ECONOMIC DEVELOPMENT CORPORATION
AGENDA
BOARD OF DIRECTORS - REGULAR MEETING
September 26, 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 August 22, 2017 regular meeting
IV. REGULAR ITEMS
A. Review and accept the KEDC Financial Report for August 2017
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
4. 1170 E. Kennedale Parkway
5. 5409 High Ridge Road
VII. RECONVENE INTO OPEN SESSION, AND TAKE ACTION NECESSARY PURSUANT TO
EXECUTIVE SESSION, IF NEEDED
VIII. ADJOURNMENT
In compliance with the Americans with Disabilities Act, the City of Kennedale will provide for reasonable
accommodations for persons attending City Council meetings. This building is wheelchair accessible, and parking
spaces for disabled citizens are available. Requests for sign interpreter services must be made forty-eight(48) hours
prior to the meetings. Please contact the City Secretary at 817.985.2104 or(TDD) 1.800.735.2989
CERTIFICATION
I certify that a copy of the September 26,2017, 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: September 26, 2017
Agenda Item No: MINUTES APPROVAL - A.
I. Subject:
Consider approval of the minutes from the August 22, 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 - August 22, 2017 8-22-17. df
_jc
KENNEDALE
Kennedale Economic
Development www.ci yofi(enn Corporation rn ECONOMIC DEVELOPMENT CORPORATION
BOARD OF DIRECTORS - REGULAR MEETING
MINUTES
August 22, 2017
I. CALL TO ORDER
President Robert Mundy called the meeting to order at 7:02 p.m.
II. ROLL CALL
Present: Michael Johnson, Adrienne Kay, Rebecca Carlton, Robert Mundy, Pat Turner, Mark
Yeary
Absent: Ronald Whitley
III. MINUTES APPROVAL
A. Consider approval of the minutes from the July 25, 2017 regular meeting
Motion To approve the July 25, 2017 Economic Development Corporation regular 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 July 2017
Finance Director Brady Olsen provided an overview of the July financial report for the
Economic Development Corporation. He reported that July sales tax was up in comparison to
last year; adding that the demolition cost for the old Chicken Express building was also
reflected in this month's report. There was discussion regarding the charts and the format of
the report; and Brady reminded the Board that the repayment of sales tax that was incorrectly
paid to Kennedale is scheduled for repayment next month.
Motion To approve the July 2017 financial report for the Economic Development Corporation.
Action Approve, Moved By Rebecca Carlton, Seconded By Adrienne Kay.
Motion passed Unanimously
B. Discuss and approve the FY2017-18 purposed Economic Development budget
Director Jack Thompson reported on the Economic Development Corporation (EDC) FY 2017-
2018 purposed budget. There was discussion regarding income sources, current debt, and
various administrative costs. President Mundy questioned why the EDC was paying the cost
of the City's annual membership fee to the Chamber of Commerce. There was lengthy
discussion regarding the pros and cons of continuing to cover that cost for the City.
An amendment to the motion to approve the proposed budget was made by Robert Mundy to
delete the cost of the City's annual Chamber of Commerce membership from the Economic
Development Board's budget for FY 2017-18. The motion was not seconded.
Amendment Died
Motion To approve the FY 2017-18 budget for the Economic Development Board.
Action Approve, Moved By Pat Turner, Seconded By Mark Yeary.
Motion passed Unanimously
C. Discuss and consider approval of gas/oil lease agreement with GHA Barnett, LLC
Director Jack Thompson informed the Board that he was contacted by GHA Barnett, LLC
regarding an oil and gas lease offer for the property at TownCenter. He provided Board
members with a copy of the lease offer and location maps. Jack stated that is was a standard
offer; a three (3) year lease with a two (2) year option, 20% for gas, and 20% for oil, with a
$1500 per net mineral acre signing bonus.
Vice-President Pat Turner stated that he had previously reviewed the offer and researched the
EDC's options; he listed several concerns in regard to the offer. He suggested that the EDC
Board team with the City in regard to their offer and negotiate a better deal.
Motion That Jack Thompson would work with the City to develop a counter offer to GHA
Barnett, LLC in regard to the oil and gas lease. Action Approve, Moved By Robert Mundy,
Seconded By Pat Turner.
Motion passed Unanimously
V. STAFF ANNOUNCEMENTS/REPORTS
A. TownCenter
B. Oak Crest
C. Chamber of Commerce
Director Jack Thompson reported on ongoing projects, stating that the martial arts studio was
open with a noticeable increase in traffic at TownCenter. He added that the baseball facility
was coming along slowly, and that there was interest in the remaining available space for that
building. He noted that the finally cost for the engineering fee and the new drive approach at
the old Chicken Express building will be approximately $10,000.
Jack informed the Board that Karmali Holding project is still on track; that he will be attending
the sales tax workshop in October; and that Ali Pennington requested to extend his lease at
Red's Roadhouse.
Jack reported for the Chamber, stating that the next Chamber luncheon would be held on
September 20th with Joe Barton providing a State of the Union presentation. Adding that in
September they will have a Coffee Chat event with Chick-fil-A sponsoring the food, and a
business after hours at Top Golf. Additional items of interest included the upcoming golf
tournament, scheduled for October 30th.
VI. EXECUTIVE SESSION
The Economic Development Corporation Board did not recess into 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
No action was taken; Executive Session was not held.
The next regularly scheduled meeting of the Economic Development Corporation will be
September 26, 2017.
VIII. ADJOURNMENT
Motion To adjourn. Action Adjourn, Moved By Rebecca Carlton, Seconded By Michael
Johnson.
Motion passed Unanimously
The meeting was adjourned at 8:10 p.m.
APPROVED: ATTEST:
President Robert Mundy Deputy City Secretary Kathy E. Moore
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KENNEDALE
Kennedale Economic
Development Corporation
www.cityofkennedale.com
STAFF REPORT TO THE BOARD OF DIRECTORS
Date: September 26, 2017
Agenda Item No: REGULAR ITEMS - A.
I. Subject:
Review and accept the KEDC Financial Report for August 2017
II. Summary:
Finance Director Brady Olsen will provide an overview of the August 2017 Kennedale Economic
Development Corporation Financial Report.
III. Recommendation:
Approve
IV. Alternative Actions:
V. Attachments:
1. hugust Financial Summa k017_08 Monthly Financials - EDC. df
P. [August Sales Tax ISales Tax Update- August EDC. df
CITY OF KENNEDALE
ANNUAL PROGRAM OF SERVICES
AUGUST
ECONOMIC DEVELOPMENT CORPORATION FINANCIALS SUMMARY
Budget Amendment
Removing sale of land from FY 16-17 budget
Monthly Information
$21,000 from the town center used to improve the V-Fit facility
This is the month we paid back the sales tax funds from the taxpayer who had left the city. Revenue
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 AUGUST
FY16-17
CATEGORY YTD
BEGINNING CASH BALANCE - FUND 15 $ (62,572)
BEGINNING TEXPOOL BALANCE - FUND 15 $
BEGINNING TEXPOOL BALANCE - FUND 19 $ 29,685
BEGINNING CASH BALANCE - FUND 95 $ 120,513
BEGINNING CASH BALANCE - TOTAL $ 87,626
ENDING CASH BALANCE - FUND 15 $ (63,766)
ENDING TEXPOOL BALANCE - FUND 15 $
ENDING TEXPOOL BALANCE - FUND 19 $ 29,710
ENDING CASH BALANCE - FUND 95 $ 120,575
ENDING CASH BALANCE -TOTAL $ 86,519
UNAVAILABLE CASH - EARMARKED
INSURANCE MONEY-HAIL DAMAGE TOWN CENTER $ 74,417.31
2010$2.OM BOND SALE REMAINING CASH $ 29,710.00
RESERVES FOR LEVERAGE NOTE $ 120,575.00
TOTAL UNAVAILABLE CASH $ 224,702.31
AVAILABLE CASH $ (138,183.17)
"YOU'RE HERE. YOUR HOME."
CITY OF KENNEDALE
ANNUAL PROGRAM OF SERVICES
AUGUST
COMBINED EDC4B FUNDS SUMMARY
FYI 5-16 FYI 5-16 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 $ 77,586 $ 223,522
AD VALOREM TAXES 34,728 34,335 48,462 - 2,360 101.1% 4.9% 46,102
SALES/BEVERAGE TAXES 277,625 376,545 349,351 16,691 259,533 73.7% 74.3% 89,819
INVESTMENT EARNINGS 304 333 260 87 692 91.2% 266.3% (432)
MISCELLANEOUS INCOME 112,302 115,841 435,796 4,397 72,189 96.9% 16.6% 363,607
SURPLUS SALES/RENTALS 121,602 100,606 99,358 6,252 75,819 120.9% 76.3% 23,539
TOTAL REVENUES $ 546,561 $ 627,660 j 933,227 $ 27,427 $ 410,592 87.1% 44.0% $ 522,635
SUPPLIES 5,110 5,110 3,100 - - 100.0% 0.0% 3,100
MAINTENANCE 19,436 19,709 95,403 23,249 43,180 98.6% 45.3% 52,223
SUNDRY 338,466 353,786 291,959 22,517 184,509 95.7% 63.2% 107,449
DEBT 162,201 166,773 168,600 4,766 164,664 97.3% 97.7% 3,936
TRANSFERS 151,919 151,919 154,819 - 154,819 100.0% 100.0% -
CAPITAL 1,274 20,707 90,000 - 32,080 6.2% 35.6% 57,920
TOTAL EXPENDITURES $ 678,405 $ 718,004 j 803,880 $ 50,532 $ 579,252 94.5% 72.1% $ 224,628
REVENUES OVER EXPENDITURES $ (131,844) $ (90,344) S 129,347 $ (23,105) $ (168,660)
ENDING FUND BALANCE $ 182,022 $ 223,522 $ 378,209 $ 54,481 $ 54,862
FUND BALANCE AS%OFEXP 26.8% 31.1% 47.0% 107.8% 9.5%
RESERVE($115,000)REQUIREMENT) $ - $ - $ 115,000 $ - $ -
RESERVE SURPLUS/(SHORTFALL) $ 182,022 $ 223,522 $ 263,209 $ 54,481 $ 54,862
"YOU'RE HERE.YOUR HOME."
CITY OF KENNEDALE
ANNUAL PROGRAM OF SERVICES
AUGUST
15:EDC413 FUND
FY15-16 FY15-16 i7 CURRENT FY16-17 %OFPYACTUAL %OFCYBUDGET BUDGET
CATEGORY YTD ACTUAL ADOPTED MONTH YTD USED USED REMAINING
BEGINNING FUND BALANCE $ 164,460 $ 164,460 99,198 $ (72,231) $ 73,861
AD VALOREM TAXES 34,728 34,335 48,462 - 2,360 101.1% 4.9% 46,102
SALES/BEVERAGE TAXES 277,625 376,545 349,351 16,691 259,533 73.7% 74.3% 89,819
INVESTMENT EARNINGS 75 78 40 - 68 96.5% 171.2% (28)
MISCELLANEOUS INCOME 112,302 115,841 435,796 4,397 72,189 96.9% 16.6% 363,607
SURPLUS SALES/RENTALS 121,602 100,606 99,358 6,252 75,819 120.9% 76.3% 23,539
TOTAL REVENUES $ 546,332 $ 627,405 933,007 $ 27,340 $ 409,968 87.1% 43.9% $ 523,039
SUPPLIES 5,110 5,110 3,100 - - 100.0% 0.0% 3,100
MAINTENANCE 19,436 19,709 95,403 23,249 43,180 98.6% 45.3% 52,223
SUNDRY 338,466 353,786 291,959 22,517 184,509 95.7% 63.2% 107,449
DEBT 162,201 166,773 168,600 4,766 164,664 97.3% 97.7% 3,936
TRANSFERS 151,919 151,919 154,819 - 154,819 100.0% 100.0% -
CAPITAL 1,274 20,707 90,000 - 32,080 6.2% 35.6% 57,920
TOTAL EXPENDITURES $ 678,405 $ 718,004 $ 803,880 $ 50,532 $ 579,252 94.5% 72.1% $ 224,628
REVENUES OVER EXPENDITURES $ (132,073) $ (90,599) $ 129,127 $ (23,192) $ (169,284)
ENDING FUND BALANCE $ 32,387 $ 73,861 $ 228,324 $ (95,423) $ (95,423)
FUND BALANCE AS% EXP 4.8% 10.3% 28.4?'; -188.8% -16.5%
RESERVE(NO REQUIREMENT) $ - $ - $ $ - $
RESERVE SURPLUS/(SHORTFALL) $ 32,387 $ 73,861 $ 228,324 $ (95,423) $ (95,423)
"YOU'RE HERE.YOUR HOME."
CITY OF KENNEDALE
ANNUAL PROGRAM OF SERVICES
AUGUST
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 34,728 34,335 48,462 - 2,360 101.1% 4.9% 46,102
ADVALOREMTAXES $ 34,728 $ 34,335 $ 48,462 $ - $ 2,360 101.1% 4.9% $ 46,102
4081-00-00 SALES TAX 277,625 376,545 349,351 16,691 259,533 73.7% 74.3% 89,819
SALES/BEVERAGE TAXES $ 277,625 $ 376,545 $ 349,351 $ 16,691 $ 259,533 73.7% 74.3% $ 89,819
4401-00-00 INVESTMENT INCOME 75 78 - 68 96.5% 171.2% (28)
INVESTMENT EARNINGS $ 75 $ 78 '> $ - $ 68 96.5% 171.2% $ (28)
4409-00-00 MISCELLANEOUS INCOME 112,302 115,841 4,397 72,189 96.9% 16.6% 363,607
MISCELLANEOUS INCOME $ 112,302 $ 115,841 $ 435,796 $ 4,397 $ 72,189 96.9% 16.6% $ 363,607
4805-00-00 RENTAL FEES-SHOPPING CENTER 119,450 98,580 98,612 6,252 75,458 121.2% 76.5% 23,154
4806-00-00 RENTAL INSURANCE 2,152 2,026 746 - 361 106.2% 48.4% 385
SURPLUS SALES/RENTALS $ 121,602 $ 100,606 5 99,358 $ 6,252 $ 75,819 120.9% 76.3% $ 23,539
TOTAL REVENUES $ 546,332 $ 627,405 $ 933,007 $ 27,340 $ 409,968 87.1% 43.9% $ 523,039
TOTAL REVENUES(EXCLUDING INTEREST/TRANSFERS) $ 546,257 $ 627,327 $ 932,967 $ 27,340 $ 409,900
10%ADMINCHARGE-GENERAL FUND 54,626 62,733 93,297
"YOU'RE HERE.YOUR HOME."
CITY OF KENNEDALE
ANNUAL PROGRAM OF SERVICES
AUGUST
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 SU PPLIES 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 190 210 2,200 390 90.4% 17.7% 1,810
5510-01-00 ASSOCDUES/PUBLICATIONS 5,356 5,356 5,320 5 4,855 100.0% 91.3% 465
5525-01-00 TRAINING/SEMINARS - 525 250 - - 0.0% 0.0% 250
5565-01-00 LEGAL SERVICES 4,712 5,662 7,000 7,813 16,502 83.2% 235.7% (9,502)
5567-01-00 AUDIT SERVICES 2,000 2,000 2,250 2,250 100.0% 100.0%
5570-01-00 SPECIAL SERVICES 97,342 140,283 68,650 5,700 75,445 69.4% 109.9% (6,795)
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 55,070 55,070 6,000 2,128 100.0% 35.5% 3,873
5595-01-00 ADMIN CHARGE-GENERAL FUND 52,710 56,796 93,297 2,734 40,990 92.8% 43.9% 52,307
5610-01-00 VISUAL GRANT 4,843 11,122 50,000 - - 43.5% 0.0% 50,000
5615-01-00 FUNCTIONAL GRANT 48,964 51,850 32,000 1,115 12,261 94.4% 38.3% 19,739
SUNDRY $ 271,186 $ 328,873 $ 267,067 $ 17,366 $ 154,860 82.5% 58.0% $ 112,207
5800-01-00 LAND 1,274 1,968 - - 22,000 64.7% 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 $ 1,274 $ 1,968 t' $ - $ 22,000 64.7% #DIWO! $ (22,000)
TOTAL EXPENDITURES $ 277,570 $ 335,951 j iv"r' $ 17,366 $ 176,860 82.6% 65.5% $ 93,307
"YOU'RE HERE.YOUR HOME:"
CITY OF KENNEDALE
ANNUAL PROGRAM OF SERVICES
AUGUST
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 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 14,562 15,930 15,672 1,536 14,354 91.4% 91.6% 1,318
5646-01-03 2011$1.7M TX LEVERAGE-PRI 35,504 38,709 39,200 3,231 36,621 91.7% 93.4% 2,579
DEBT $ 162,201 $ 166,773 $ 168,600 $ 4,766 $ 164,664 973% 97.7% $ 3,936
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 $ 314,119 $ 318,692 $ 323,419 $ 4,766 $ 319,483 98.6% 98.8% $ 3,936
"YOU'RE HERE.YOUR HOME."
CITY OF KENNEDALE
ANNUAL PROGRAM OF SERVICES
AUGUST
15:EDC4B FUND
02:TOWN SHOPPING CENTER
FY15-16 FY15-16 416-17 CURRENT FY16-17 %OFPYACTUAL %OFCYBUDGET BUDGET
ACCOUNT ACCOUNT NAME YTD ACTUAL ADOPTED MONTH YTD USED USED REMAINING
5403-02-00 BUILDING MAINTENANCE 19,436 19,709 95,403 23,249 43,180 98.6% 45.3% 52,223
MAINTENANCE $ 19,436 $ 19,709 $ 95,403 $ 23,249 $ 43,180 98.6% 453% $ 52,223
5530-02-00 ELECTRIC SERVICES 48,883 5,401 5,000 408 5,480 905.1% 109.6% (480)
5545-02-00 INSURANCE-PROPERTY 6,121 6,121 6,500 6,507 100.0% 100.1% (7)
5570-02-00 SPECIAL SERVICES 12,276 13,392 13,392 4,744 17,662 91.7% 131.9% (4,270)
SUNDRY $ 67,280 $ 24,914 $ 24,892 $ 5,151 $ 29,650 270.1% 119.1% $ (4,758)
TOTAL EXPENDITURES $ 86,716 $ 44,622 $ 120,295 $ 28,400 $ 72,830 194.3% 60.5% $ 47,465
"YOU'RE HERE.YOUR HOME."
CITY OF KENNEDALE
ANNUAL PROGRAM OF SERVICES
AUGUST
15:EDC46 FUND
03:TOWN CENTER REDEVELOPMENT
FY15-16 FY15-16 F,16-17 CURRENT FY16-17 %OFPYACTUAL %OFCYBUDGET BUDGET
ACCOUNT ACCOUNT NAME YTD ACTUAL ADOPTED MONTH YTD USED USED REMAINING
5580-03-00 ENGINEERING SERVICES - - - - 0.0% 0.0% 10,000
5847-03-00 CONSTRUCTION - - - 10,080 0.0% 12.6% 69,920
CAPITAL $ - $ - $ 90,006 $ - $10,080 0.0% 11.2% $ 79,920
TOTAL EXPENDITURES $ - $ - $ 9+11,000 $ - $10,080 0.0% 11.2% $ 79,920
"YOU'RE HERE.YOUR HOME."
CITY OF KENNEDALE
ANNUAL PROGRAM OF SERVICES
AUGUST
15:EDC46 FUND
04:TEXAS LEVERAGE PROGRAM
FY15-16 FY15-16 F'ri517 CURRENT FY16-17 %OFPYACTUAL %OFCYBUDGET BUDGET
ACCOUNT ACCOUNT NAME YTD ACTUAL A.DOPTE, MONTH YTD USED USED REMAINING
5800-04-00 LAND - 18,739 - - 0.0% 0.0% -
CAPITAL $ - $ 18,739 5 - $ - $ - 0.0% 0.0% $ -
TOTAL EXPENDITURES $ - $ 18,739 s - $ - $ - 0.0% 0.0% $ -
"YOU'RE HERE.YOUR HOME."
CITY OF KENNEDALE
ANNUAL PROGRAM OF SERVICES
AUGUST
19:EDC4BCAPITAL BOND FUND
FY15-16 FY15-16 FY16-17 CURRENT FY16-17 %OFPYACTUAL %OFCYBUDGET BUDGET
CATEGORY YTD ACTUAL ADOPTED MONTH YTD USED USED REMAINING
BEGINNING FUND BALANCE $ 29,444 $ 29,444 5 29,524 $ 29,685 $ 29,529
INVESTMENT EARNINGS 76 85 60 25 181 89.1°,0 301.7% (121)
TOTAL REVENUES $ 76 $ 85 $ 60 $ 25 $ 181 89.1% 301.7% $ (121)
CAPITAL - - - - - 0.0°0 0.0%
TOTAL EXPENDITURES $ - $ - $ - $ - $ - 0.0% 0.0% $ -
REVENUES OVER EXPENDITURES $ 76 $ 85 $ 60 $ 25 $ 181
ENDING FUND BALANCE $ 29,520 $ 29,529 $ 29,584 $ 29,710 $ 29,710
FUND BALANCEAS%OF EXP N/A N/A N/A N/A N/A
RESERVE(NO REQUIREMENT)
RESERVE SURPLUS/(SHORTFALL) $ 29,520 $ 29,529 $ 29,584 $ 29,710 $ 29,710
"YOU'RE HERE.YOUR HOME."
CITY OF KENNEDALE
ANNUAL PROGRAM OF SERVICES
AUGUST
19:EDC46CAPITAL BOND FUND
FY15-16 FY15-16 i'Y15 1 CURRENT FY16-17 %OFPYACTUAL %OFCYBUDGET BUDGET
ACCOUNT ACCOUNT NAME YTD ACTUAL AMPTE9, MONTH YTD USED USED REMAINING
4401-00-00 INVESTMENT INCOME 76 85 25 181 89.1% 301.7% (121)
INVESTMENT EARNINGS $ 76 $ 85 5 .0 $ 25 $ 181 89.1% 301.7% $ (121)
TOTAL REVENUES $ 76 $ 85 5 z6 $ 25 $ 181 89.1% 301.7% $ (121)
19:EDC46CAPITAL BOND FUND
01:TOWN CENTER REDEVELOPMENT
FY15-16 FY15-16 ?'Y1 @i7 CURRENT FY16-17 %OFPYACTUAL %OFCYBUDGET BUDGET
ACCOUNT ACCOUNT NAME YTD ACTUAL i:00 rTE= MONTH YTD USED USED REMAINING
5847-01-00 CONSTRUCTION - - - - - 0.0% 0.0% -
CAPITAL $ - $ - S $ - $ - 0.0% 0.0% $ -
TOTAL EXPENDITURES $ - $ - , $ - $ - 0.0% 0.0% $ -
"YOU'RE HERE.YOUR HOME."
CITY OF KENNEDALE
ANNUAL PROGRAM OF SERVICES
AUGUST
95:EDC46 RESERVE FUND
FY15-16 FY15-16 FY16-17 CURRENT FY16-17 %OFPYACTUAL %OFCYBUDGET BUDGET
CATEGORY YTD ACTUAL ADOPTED MONTH YTD USED USED REMAINING
BEGINNING FUND BALANCE $ 119,962 $ 119,962 `i 120,141 $ 120,132 $ 120,132
INVESTMENT EARNINGS 153 170 160 62 443 89.8% 276.9% (283)
TOTAL REVENUES $ 153 $ 170 1 160 $ 62 $ 443 89.8% 276.9% $ (283)
TOTAL EXPENDITURES $ - $ - - $ - $ - 0.0% 0.0% $ -
REVENUESOVER EXPENDITURES $ 153 $ 170 $ 160 $ 62 $ 443
ENDING FUND BALANCE $ 120,115 $ 120,132 $ 120,301 $ 120,194 $ 120,575
FUND BALANCEAS%OF EXP N/A N/A N/A N/A N/A
RESERVE($112,606 REQUIREMENT) $ 112,606 $ 112,606 $ 112,606 $ 112,606 $ 112,606
RESERVE SURPLUS/(SHORTFALL) $ 7,509 $ 7,526 $ 7,695 $ 7,588 $ 7,969
"YOU'RE HERE.YOUR HOME."
CITY OF KENNEDALE
ANNUAL PROGRAM OF SERVICES
AUGUST
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 153 170 160 62 443 89.8% 276.9% (283)
INVESTMENT EARNINGS $ 153 $ 170 $ 160 $ 62 $ 443 89.8% 276.9% $ (283)
TOTAL REVENUES $ 153 $ 170 $ 160 $ 62 $ 443 89.8% 276.9% $ (283)
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."
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KENNEDALE
Kennedale Economic
Development Corporation
www.cityofkennedale.com
STAFF REPORT TO THE BOARD OF DIRECTORS
Date: September 26, 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: September 26, 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
4. 1170 E. Kennedale Parkway
5. 5409 High Ridge Road
II. Summary:
The Economic Development Corporation will meet in Executive Session.
III. Recommendation:
IV. Alternative Actions:
V. Attachments: