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2017_11.28 EDC Packet ic KENNEDALE Kennedale Economic Development Corporation www.cityofkennedale.com ECONOMIC DEVELOPMENT CORPORATION AGENDA BOARD OF DIRECTORS - REGULAR MEETING November 28, 2017 CITY COUNCIL CHAMBERS, 405 MUNICIPAL DRIVE REGULAR SESSION - 7:00 PM I. CALL TO ORDER A. Introduction of new members II. ROLL CALL III. MINUTES APPROVAL A. Consider approval of the minutes from the October 24, 2017 regular meeting IV. REGULAR ITEMS A. Review and accept the KEDC Financial Report for October 2017 B. Consider electing EDC Officers (President and Vice President) for 2017-2018. C. Discuss and consider the physical condition of building one in TownCenter and the possibility of required improvements 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 November 28, 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: November 28, 2017 Agenda Item No: CALL TO ORDER - A. I. Subject: Introduction of new members II. Summary: EDC President Robert Mundy will make introductions for new members. III. Recommendation: IV. Alternative Actions: V. Attachments: ic KENNEDALE Kennedale Economic Development Corporation www.cityofkennedale.com STAFF REPORT TO THE BOARD OF DIRECTORS Date: November 28, 2017 Agenda Item No: MINUTES APPROVAL - A. I. Subject: Consider approval of the minutes from the October 24, 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 - October 24, 2017 10-24-17. df _jc KENNEDALE Kennedale Economic Development www.ci yofi(enn Corporation rn ECONOMIC DEVELOPMENT CORPORATION BOARD OF DIRECTORS - REGULAR MEETING MINUTES October 24, 2017 I. CALL TO ORDER President Robert Mundy called the meeting to order at 7:03 p.m. II. ROLL CALL Present: Michael Johnson, Rebecca Carlton, Robert Mundy, Pat Turner, Mark Yeary Absent: Adrienne Kay, Ronald Whitley III. MINUTES APPROVAL A. Consider approval of the minutes from the September 26, 2017 regular meeting Motion To approve the September 26, 2017 Economic Development Corporation regular meeting minutes. Action Approve, Moved By Michael Johnson, Seconded By Rebecca Carlton. Motion passed Unanimously B. Consider approval of the minutes from the October 12, 2017 special meeting Motion To approve the October 12, 2017 Economic Development Corporation special 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 September 2017 Finance Director Brady Olsen provided an overview of the September financial report for the Economic Development Corporation. He reported that we received payment from the insurance company for the hail damage to the roofs at TownCenter. Additionally, he noted that he was working to finalize the FY 2017-18 budget numbers. Motion To approve the September 2017 financial report for the Economic Development Corporation. Action Approve, Moved By Rebecca Carlton, Seconded By Mark Yeary. Motion passed Unanimously B. Consider electing an EDC President and Vice President for 2017-2018. President Robert Mundy reviewed the bylaws in regard to the annual election of officers, nothing that the bylaws call for the election to be held in October. He recommended that the Board table the election of officers for the upcoming year until the EDC Board's regular meeting in November in order to permit the City Council to complete their annual appointments of new Board members. He noted that the current officers will continue until the election of officers by the Board is completed. Motion To Table the election of officers until the November 2017 regular meeting of the Board of Directors. Action Table, Moved By Rebecca Carlton, Seconded By Michael Johnson. Motion to Table passed Unanimously C. Approval of a 12-month lease extension and rent increase for Red's Roadhouse Director Jack Thompson stated that the city attorney has reviewed the extension of the lease agreement with Red's Roadhouse and approved moving forward with the extension. The new agreement extends the lease through November 30, 2018, and increases the monthly rental payment to $2000. Motion To approve the second amendment to the lease purchase agreement with Pennington Family Limited Partnership for Red's Roadhouse. Action Approve, Moved By Mark Yeary, Seconded By Michael Johnson. 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 City Council approved the lease agreement with City Electric Supply at TownCenter. He stated that he received additional bids for the driveway at the old Chicken Express location and they were still very high. He suggested that the EDC clean-up the area until summer and possibly try to tag the driveway job onto another job to help lower the cost. He reminded the Board that they are contractually obligated to replace the driveway once they have funds available from sales of EDC owned properties. In closing, Jack stated that the deal on the Huddle House closed and the Karmali Holding project is still on track to close by the end of the year. 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 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 No action was taken; Executive Session was not held. The next regularly scheduled meeting of the Economic Development Corporation will be November 28, 2017. The Board agreed that the December meeting would be moved to December 19, 2017. VIII. ADJOURNMENT Motion To adjourn. Action Adjourn, Moved By Michael Johnson, Seconded By Mark Yeary. Motion passed Unanimously The meeting was adjourned at 7:25 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: November 28, 2017 Agenda Item No: REGULAR ITEMS - A. I. Subject: Review and accept the KEDC Financial Report for October 2017 II. Summary: Finance Director Brady Olsen will provide an overview of the October 2017 Kennedale Economic Development Corporation Financial Report. III. 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Z LL. a LL. a O Z ..� ..� ..� ..� r p r p Z W w p� Z O yNj W l J Q W z W O m p Q — ~ W Q Z H W W W F � d Z OC Z � W H — H V w W H V Z H a a ° p p z z W W W W co H H W W O co H O H V Z p V Z W O o W O V p V LM Q o Q ic KENNEDALE Kennedale Economic Development Corporation www.cityofkennedale.com STAFF REPORT TO THE BOARD OF DIRECTORS Date: November 28, 2017 Agenda Item No: REGULAR ITEMS - B. I. Subject: Consider electing EDC Officers (President and Vice President) for 2017-2018. II. Originated by: Kathy Moore, Deputy City Secretary III. Summary: The EDC is required by their bylaws to annually elect a President and Vice President at their regularly scheduled meeting in October. UPDATE: The EDC Board tabled the election of officers at their October meeting, to allow for all newly appointed members to be in attendance at the November meeting. IV. Recommendation: V. Alternative Actions: VI. Attachments: ic KENNEDALE Kennedale Economic Development Corporation www.cityofkennedale.com STAFF REPORT TO THE BOARD OF DIRECTORS Date: November 28, 2017 Agenda Item No: REGULAR ITEMS - C. I. Subject: Discuss and consider the physical condition of building one in TownCenter and the possibility of required improvements II. Summary: EDC Executive Director George Campbell will provide an update regarding potential repair cost to building one at TownCenter. III. Recommendation: IV. Alternative Actions: V. Attachments: ic KENNEDALE Kennedale Economic Development Corporation www.cityofkennedale.com STAFF REPORT TO THE BOARD OF DIRECTORS Date: November 28, 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: November 28, 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: