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2018_01.23 EDC Packet ic KENNEDALE Kennedale Economic Development Corporation www.cityofkennedale.com ECONOMIC DEVELOPMENT CORPORATION AGENDA BOARD OF DIRECTORS - REGULAR MEETING January 23, 2018 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 December 19, 2017 regular meeting IV. REGULAR ITEMS A. Review and accept the KEDC Financial Report for December 2017 B. Consider approval for Executive Director to negotiate and sign a contract for remodeling the remaining vacant space in TownCenter, Building 1 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. Oak Crest Development 2. 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 January 23, 2018, 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. Leslie Galloway, City 816cretary 405 Municipal Drive, Kennedale, TX 76060 Telephone: 817.985.2102 Fax: 817-478-7169 ic KENNEDALE Kennedale Economic Development Corporation www.cityofkennedale.com STAFF REPORT TO THE BOARD OF DIRECTORS Date: January 23, 2018 Agenda Item No: MINUTES APPROVAL - A. I. Subject: Consider approval of the minutes from the December 19, 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 - December 19, 2017 12-19-17. df _)c KENNEDALE Kennedale Economic Development www.ci yofi(enn Corporation rn ECONOMIC DEVELOPMENT CORPORATION BOARD OF DIRECTORS - REGULAR MEETING MINUTES December 19, 2017 I. CALL TO ORDER President Robert Mundy called the meeting to order at 7:00 p.m. II. ROLL CALL Present: Robert Mundy, Pat Turner, Ronald Whitley, Mark Yeary Absent: None III. MINUTES APPROVAL A. Consider approval of the minutes from the November 28, 2017 regular meeting Motion To approve the November 28, 2017 Economic Development Corporation regular meeting minutes. Action Approve, Moved By Mark Yeary, Seconded By Ronald Whitley. Motion passed Unanimously IV. REGULAR ITEMS A. Consider electing EDC Vice President for 2017-2018 Board member Pat Turner was appointed to the position of Board Vice-Chair at the November 28, 2017; he requested that the Board consider electing someone else to the position. Motion To appoint Mark Yeary to the position of Vice-Chair for the Economic Development Corporation. Action Approve, Moved By Pat Turner, Seconded By Ronald Whitley. Motion passed with a vote of 3-0; with None voting against approval. Mark Yeary Abstained. B. Review and accept the KEDC Financial Report for November 2017 Finance Director Brady Olsen provided a brief overview of the November financial report for the Economic Development Corporation board members; he noted that sales taxes were up from last month. Motion To approve the November 2017 financial report for the Economic Development Corporation. Action Approve, Moved By Pat Turner, Seconded By Mark Yeary. Motion passed Unanimously C. Discuss the status of the hotel closing Executive Director George Campbell updated the Board on the status of the hotel closing; providing them a draft copy of the closing statement. He stated that the closing date was scheduled for Wednesday, December 20, 2017 and that no action was required of the Board because a contract is already in place. He added that closing cost was $800, leaving the EDC with a net of$349,179. Board President Robert Mundy questioned when they could announce the hotel brand to the public. Additionally, he would like to see a press release go out to the public. George stated that he would talk with Karmali Holdings and get back to the Board. D. Consider approval of the construction of a drive approach at 223 W. Kennedale Parkway Executive Director George Campbell reminded the Board that they are contractually obligated to replace the drive approach at the old Chicken Express location once funds became available. Board members were provided copies of the plans and specifications, along with the three bids received. The low bidder was Corbet Design Build for the amount of$66, 500. George requested that the Board approve using hotel funds to move forward with the drive approach improvements. Additionally, he asked that they accep the low bid of $66,500, submitted by Corbet Design Build. He stated that acceptance of the low bid would be contingent on City plan review and approval, along with the City Attorney's approval. Motion To authorize Executive Director George Campbell to enter into a contract with Corbet Design Build for paving improvements at 223 W. Kennedale Parkway, contingent on City approval, legal review, and available funds. Action Approve, Moved By Robert Mundy, Seconded By Mark Yeary. Motion passed Unanimously V. STAFF ANNOUNCEMENTS/REPORTS A. TownCenter B. Oak Crest C. Chamber of Commerce Executive Director George Campbell reported on the necessary improvements for the finish out of the remaining lease space in Building 1 at TownCenter. He stated that in the future the Board would need to discuss the cost associated with those improvements. Additional updates included the discussion of a $16,000 financial gap associated with the improvements at the City Electric site and the status of the eviction notice for property on Oak Crest Drive. It was noted that the Chamber had made an offer to someone to fill their vacancy. VI. ADJOURNMENT The next regularly scheduled meeting will be held on January 23, 2018. Motion To adjourn. Action Adjourn, Moved By Pat Turner, Seconded By Mark Yeary. Motion passed Unanimously 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: January 23, 2018 Agenda Item No: REGULAR ITEMS - A. I. Subject: Review and accept the KEDC Financial Report for December 2017 II. Summary: Finance Director Brady Olsen will provide an overview of the December 2017 Kennedale Economic Development Corporation Financial Report. III. Recommendation: Approve IV. Alternative Actions: V. Attachments: 1. IDecember Sales Tax ISales Tax Update- December EDC. df P. 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O O 0 0 H o o H o 0 W N N N W O O O O O O O r r m W m W O O O O co M M co O O O p ^4 N N p N F 00 00 co F x M x U e z e z � v v W W W in in in in 0 Q LL. � ZON � ~ O Y } W 00 V w x H � n J CD O O n J , , LU J r Q V1 LM r Q. Z LL. a LL. a O Z ..� ..� ..� ..� a � LM LM , r p r p Z W w p� Z O yNj W l J Q W '2 z W O m p Q - ~ W Q Z H W W W F � d Z � OC Z � W F- 'A- J H J 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: January 23, 2018 Agenda Item No: REGULAR ITEMS - B. I. Subject: Consider approval for Executive Director to negotiate and sign a contract for remodeling the remaining vacant space in TownCenter, Building 1 II. Summary: Building One in the TownCenter currently has three lease tenants: Dollar General and two new tenants V-Fit and City Electric. One space (the East side) remains to be leased. Dollar General and V- Fit are open for business. The remodeling for City Electric is nearly complete and we expect this tenant be open for business shortly. The remaining space, approximately 15,939 SF, must have significant repair and remodeling to make it tenant ready. Craig Hughes is in the process of getting at least three bids for the work in that space that would include, at a minimum, HVAC, clean-up/maintenance/repair of the electrical systems, rest rooms, etc. The attached budget includes the expected costs for preparing the remaining space. This agenda item seeks the Board's direction regarding the funding for the above described actions for the remaining space in Building one. Since the extent of repairs and remodeling relate to potential lease opportunities for the remaining space, staff recommends that the Board delay action on this agenda item until after the closed session, also scheduled on the agenda, is completed. III. Recommendation: IV. Alternative Actions: V. Attachments: ic KENNEDALE Kennedale Economic Development Corporation www.cityofkennedale.com STAFF REPORT TO THE BOARD OF DIRECTORS Date: January 23, 2018 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: January 23, 2018 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. Oak Crest Development 2. TownCenter Property II. Summary: The Economic Development Corporation will meet in Executive Session. III. Recommendation: IV. Alternative Actions: V. Attachments: