08/21/2007, Regular Meeting Minutes246
MINUTES
KENNEDALE ECONOMIC DEVELOPMENT CORPORATION
BOARD OF DIRECTORS
REGULAR MEETING -AUGUST 21, 2007
405 MUNICIPAL DR. - KENNEDALE MUNICIPAL BLDG.
CONFERENCE ROOM
Vice-President, Robert Mundy called the meeting to order at 7:21 p.m.
Members present: Vice-President, Robert Mundy, Board of Directors, Doug Parker, Beverly
Hayes, and Marsha Knox.
Members absent: President, Nita Wilson, Board of Directors Rob Morris and Wayne Wooten.
Staff present: Mike Soab, KEDC Director, Kathy Turner, Secretary to KEDC, and Clifford
Blackwell, III, Treasurer.
I. REGULAR ITEMS
a. Review and consider minutes: regular meeting dated June 19, 2007.
Doug Parker moved to approve the regular meeting minutes dated June 19, 2007,
second by Beverly Hayes. Motion carried (4-0).
b. Review financial monthly reports.
Clifford Blackwell, III, Treasurer recapped the monthly financial reports for the
months of June and July 2007, and answered questions from the Board of
Directors.
c. Review and Consider amendment to Chicken Express Functional Grant.
Marsha Knox moved to recognize grant application even though work commenced
prior to KEDC consideration, second by Doug Parker. Motion carried (4-0).
Beverly Hayes move to amend original grant to include recognition of Four
Thousand Two Hundred Eighteen Dollars ($4,218.00), one to seven share ratio,
which would be an increase of Six Hundred Two Dollars and Fifty Seven Cents
($602.57), second by Marsha Knox. Motion carried (4-0).
d. Review and Consider Raj Sharma's dba Kennedale Chevron functional
improvements and grant payment approval.
Beverly Hayes moved to authorize payment to Raj Sharma dba Kennedale Chevron
in the amount of Sixteen Thousand Seven Hundred Two Dollars and Seventy-one
Cents, ($16,702.71) for functional improvements, second by Doug Parker. Motion
carried (4-0).
e. Review and Consider design, expense, and procurement process/installation of new
proposed TownCenter Kennedale LED civic message monument sign.
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II.
III.
IV.
Mike Soab, KEDC Director reviewed design, expense, and procurement
process/installation of new proposed TownCenter Kennedale LED civic message
monument sign. Soab advised that the sign would serve as an icon for the
TownCenter even though the center is not present, and would generate interest and
serve as a message sign for the community. No action was taken, as this item is a
budgeted item in the 2007-2008 KEDC budget.
f.
g•
Review and Consider Resolution to designate depository for funds.
Beverly Hayes moved to approve Resolution authorizing Inwood National Bank as
the depository for the Town Center Shopping Center's funds that are utilized on
behalf of the KEDC contingent upon the words "Not Applicable" be inserted on
line item 7. Motion second by Marsha Knox with all members present voting in
favor. Motion carried (4-0).
Review and consider eligible KEDC projects and KEDC Budget for fiscal year
2007-2008.
Mike Soab, KEDC Director reviewed the listing often eligible KEDC projects with
the Board of Directors. A recommendation was brought forth to include a multi
functional recreational center as a future project. Soab advised that public hearing
notice was already published identifying the 10 listed projects; however the project
could be added at a later date with the required public hearing notices.
Next, a review of the budget took place with Clifford Blackwell; Treasurer
beginning with the corporation's fund and revenue balances. Blackwell advised
that the overall KEDC budget was about 1.114 Million, which included an
expenditure for debt service and expenditures for the shopping center.
In closing, Soab added that public hearing was scheduled for Thursday, August 30`"
at 7:30 p.m. to review eligible projects and 2007-2008 budget, and action would be
taken at that time to forward a recommendation to Council for acceptance.
No further discussion, Vice President, Robert Mundy recessed the meeting at 8:41
p.m. to enter into executive session.
EXECUTIVE SESSION
The Board of Directors will meet in closed session pursuant to Section 551.072 of the
Texas Government Code to deliberate the purchase, exchange, lease, or value of real
property.
RECONVENE INTO OPEN SESSION AND TAKE ACTION NECESSARY
PURSUANT TO EXECUTIVE SESSION.
Vice President, Robert Mundy reconvened into open session at 9:09 p.m. with no action
taken on executive session.
STAFF ANNOUNCEMENTS/REPORTS
a. Executive Director Announcement/Reports. - No reportslannouncements.
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b. KEDC Director Announcement/Reports.
Mike Soab, KEDC Director announced that a workshop would be held jointly
between the Kennedale City Council and advisory boards to review the governance
survey that was conducted by Greg Innes with Innes Strategy on Thursday, August
23, 2007 at 5:30 p.m.
Soab then suggested a review the current BYLAWS to allow the Executive
Director to sign on behalf of the Corporation and handle the day to day business
versus trying to track down the President to obtain a signature on legal documents.
Vice President Mundy recommended a copy of the BYLAWS be presented to each
member for review and allow input from the members, and to have the item placed
on next month's agenda for discussion.
V. PRESIDENTBOARD ANNOUNCEMENTS/REPORTS
a. President Announcements/Reports -Vice President, Robert Mundy reminded
everyone on the public hearing on the eligible projects and 2007-2008 budget
scheduled for August 30, 2007 at 7:30 p.m.
b. Board of Directors Announcements/Reports - No announcements/reports.
VI. ADJOURNMENT
No further discussion, Vice President Mundy adjourned the meeting at 9:21 p.m.
APPROVED:
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Vice President, Robe P.
ATTEST:
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Kathy Turner, Secretary to KEDC