11/15/2005, KEDC Regular Meeting Minutes201
MINUTES
KENNEDALE ECONOMIC DEVELOPMENT CORPORATION
BOARD OF DIRECTORS
REGULAR MEETING -NOVEMBER 15, 2005
405 MUNICIPAL DR. - KENNEDALE MUNICIPAL BLDG.
CONFERENCE ROOM
President Vaughn called the meeting to order at 7:18 p.m.
Members present: President Vaughn, Vice-President Munn, Mundy, Hayes, Morris, Norwood,
and Knox.
Members absent: None
Staff present: David Miller, Executive Director; and Margaret Eichelberger, Economic
Development Director.
A. REGULAR ITEMS
L Consider approval of minutes: regular meeting dated September 27, 2005.
Bill Munn moved to approve the minutes, second by Jim Norwood.
Robert Mundy recommended striking `for approval at the October meeting" from the
last sentence under B. PresidentlBoard announcements/reports (1) Fresident
p" AnnouncementlReports. The sentence would then read "It was noted that Margaret
Eichelberger will check with A Plus Signs, receive a cost estimate, proceed with order,
and present information back before the board.. "
Bill Munn moved to amend his motion to include Mr. Mundy's recommendation. Jim
Norwood moved to second amended motion. Motion carried with all members voting in
favor (7-0).
2. Review of financial reports.
Board members reviewed financial reports from the month ending September 30, 2005.
3. Presentation by Texas Speedway regarding speedway improvements.
Texas Raceway officials presented before the Board a background history of the tract and
a 20-year preliminary plan that included various improvements from berms that would
help offset noise control, landscaping, parking improvements, deck with viewing suites,
pond expansion with picnic facilities, garage facility, and additional restrooms and
concessions.
4. Consider approval to issue check to the Fowler Group for visual/functional grants.
Bill Munn moved to approve the matching dollars for the Functional Grant as requested,
and process a check in the amount of Thirty Thousand Dollars ($30,000.00) to the Fowler
Group, second by Robert Mundy. Motion carried with all members voting in favor (7-0).
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5. Consider approval of cost estimate to amend wording on City entrance sign.
It was noted that this item was approved at the last meeting; therefore no action was
taken.
6. Consider approval of cost for landscaping around City entrance sign.
No action was taken on this item.
7. Consider approval of Functional Grant, requested by R.E. Watson.
Jim Norwood moved to approve Functional Grant to R.E. Watson in the amount of Eight
Thousand Twenty One Dollars (8,021.00), second by Beverly Nayes. Motion carried
unanimously (7-0).
B. EXECUTIVE SESSION
President Vaughn recessed into executive session at 7:59 p.m.
The Board of Directors will meet in closed session pursuant to Section 551.072 of the Texas
Government Code (Acquisition of Real Property) to deliberate the purchase, exchange, lease,
or value of real property.
C. RECONVENE INTO OPEN SESSION AND TAKE ACTION NECESSARY
PURSUANT TO EXECUTIVE SESSION.
President Vaughn reconvened into open session at 8:28 p.m.
Robert Mundy moved to direct Staff to go forward with an appraisal of the property and fact-
finding, second by Rob Morris. Motion carried with all members voting in favor (7-0).
D. PRESIDENT/BOARll ANNOUNCEMENTS/REPORTS
1. President Announcements/Reports
President Vaughn advised board members that a verbal request had been received from
someone within the Kennedale Chamber of Commerce requesting that the Corporation
fund the monthly expense of renting an office space located at 532 Kennedale Parkway.
It was suggested that the Chamber of Commerce submit a letter of request before the
Board outlining the specifics of the request, and include in the request what the Chamber
would do to help drive economic development in the City.
2. Board of Directors Announcements/Reports
No announcements or reports were made.
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E. ADJOURNMENT
`+~ Beverly Hayes moved to adjourn the meeting at 8:45 p.m., second by Rob Morris. Motion
carried (7-0).
ATTEST:
Kathy Turner, Secretary to EDC
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