2010_09.21 EDC Agenda Packet AGENDA
KENNEDALE ECONOMIC DEVELOPMENT CORPORATION
BOARD OF DIRECTORS
REGULAR MEETING — SEPTEMBER 21, 2010
405 MUNICIPAL DR. — KENNEDALE MUNICIPAL BLDG.
COUNCIL CHAMBERS
7:15 PM
I. CALL TO ORDER
II. ROLL CALL
III. REGULAR ITEMS
A. Review and consider action to approve regular meeting minutes dated August 24, 2010.
B. Review KEDC Financial Reports.
C. Review and consider action to approve staff to submit for a loan with the Texas Leverage
Fund.
D. Review and consider action on the uses and opportunities with Arsoul Karbosi's Industrial
buildings on Kennedale Parkway.
E. Review and consider action on welcome monument sign to be located on Dick Price Road.
F. Receive report from the Keep Kennedale Beautiful Commission.
G. Review and consider action to change date and time of future meetings.
IV. STAFF ANNOUNCEMENTS/REPORTS
A. Executive Director Report.
1. TownCenter Development
2. 911 Memorial
B. Orasi Development Report
V. PRESIDENT/BOARD ANNOUNCEMENTS/REPORTS
A. President Announcements/Reports
1. Report agenda items to be posted for future meetings.
Page 1 of 2
VI. EXECUTIVE SESSION
A. The Economic Development Corporation will meet in closed session pursuant to Section
551.087 of the Texas Government Code to deliberate the offer of a financial or other
incentive to a business prospect with which the city is conducting economic development
negotiations.
1. Acquisition of Real Property
• 1000 E. Kennedale Parkway
• 1170 E. Kennedale Parkway
• 1117 and 1119 W. Kennedale Parkway
• 7200 Block of Hudson Village Creek Road and Bloxom Park Road
2. Texas Leverage Fund for Grover Corporation
VII. RECONVENE INTO OPEN SESSION AND TAKE ACTION PURSUANT TO
EXECUTIVE SESSION, IF NECESSARY.
VIII. ADJOURNMENT
In compliance with the Americans with Disabilities Act, the City of Kennedale will provide for
reasonable accommodations for persons attending KEDC 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 Kathy Turner,
City Secretary, at 817.985.2104 or (TDD) 1.800.735.2989
CERTIFICATION
I certify that a copy of the September 21, 2010, KEDC 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 on the following date and time: Saturday, September 18, 2010 at 10:00 AM, and remained so
posted continuously for at least 72 hours preceding the schedule time of said meeting, in accordance with
Chapter 551 of the Texas Government Code.
/ 4 & - — 7 7
Kathy Turne1 TRMC /CMC Date Agenda Removed from bulletin board
City Secretary
Page 2 of 2
StaffReport
To KEDC Board of Directors
Date: September 16, 2010
Agenda Item No: III - A.
Subject: Review and consider approval of meeting minutes.
Originated by: Kathy Turner, KEDC Secretary
Summary: A draft copy of the meeting minutes dated August 24 is attached for your review
and consideration.
Recommendation: Recommend Approval.
Disposition by KEDC Board of Directors:
351
MINUTES
KENNEDALE ECONOMIC DEVELOPMENT CORPORATION
BOARD OF DIRECTORS
REGULAR MEETING — AUGUST 24, 2010
405 MUNICIPAL DR. — KENNEDALE MUNICIPAL BLDG.
COUNCIL CHAMBERS
CALL TO ORDER
President Mundy called the meeting to order at 7:19 p.m.
II. ROLL CALL
President Mundy called roll with the following persons present /absent:
Present: Robert Mundy President
Mark Yeary Board Member
Rebecca Mowell Board Member
Darrell Erwin Board Member
Absent: Donnie Graham Vice- President
Beverly Hayes Board Member
Doug Parker Board Member
Staff members present included:
Bob Hart Executive Director /City Manager
Jack Thompson EDC Contract Provider
III. REGULAR ITEMS
A. Review and consider action to approve regular meeting minutes dated July 20, 2010.
Rebecca Mowell moved to approve regular meeting minutes dated July 20, 2010 contingent
upon correcting the spelling of "Donne" to reflect "Donnie" under item IV-A, second by
Darrell Erwin. Motion carried unanimously (4 -0).
B. Review KEDC Financial Reports.
Darrell Erwin moved to approve the KEDC Financial Reports as presented, second by
Mark Yeary. Motion carried unanimously (4 -0).
C. Review and consider action to forward a recommendation to City Council to consider
2010 -2011 Fiscal Year Budget, KEDC Projects, and Texas Leverage Fund Project.
Darrell Erwin moved to forward a recommendation to City Council to consider the 2010-
2011 Fiscal Year Budget, KEDC Projects, and Texas Leverage Fund Project, second by
Mark Yeary. Motion carried unanimously (4 -0).
352
D. Review and consider action to approve Resolution No. 4, authorizing and approving a loan
from the office of the Governor Economic Development and Tourism Division authorizing
the execution and delivery of the Loan Agreement and related documents, authorizing the
pledge of sales and use tax receipts, and other matters in connection therewith.
Rebecca Mowell moved to approve Resolution No. 4, authorizing and approving a loan
from the office of the Governor Economic Development and Tourism Division authorizing
the execution and delivery of the Loan Agreement and related documents, authorizing the
pledge of sales and use tax receipts and other matters in connection therewith. Darrell
Erwin seconded the motion and motion carried with all present voting in favor. Motion
carried (4 -0).
E. Review and consider action on welcome monument sign to be located on Dick Price Road.
Bob Hart, Executive Director /City Manager indicated that the Keep Kennedale Beautiful
Commission would like to place a Welcome to Kennedale monument sign on the south
portion of Dick Price Road, and is requesting that the economic development corporation
pay a portion of the cost.
President Mundy asked the board to table the item until the next meeting so Doug Parker
could address the item as he was the one who requested the item be placed on the agenda.
Rebecca Mowell moved to table item until the September meeting, second by Darrell
Erwin. Motion carried unanimously (4 -0).
F. Receive report from the Keep Kennedale Beautiful Commission.
Darrell Erwin moved to table the item until the September meeting to allow Doug Parker to
present report on behalf of the Keep Kennedale Beautiful Commission, second by Mark
Yeary. Motion carried unanimously (4 -0).
G. Review and consider action to change date and time of future meetings.
It was noted that the board would meet on its regular meeting date of September 21,
2010.
IV. STAFF ANNOUNCEMENTS/REPORTS
A. Executive Director Report.
Bob Hart, Executive Director /City Manager provided updates on the following:
1. TownCenter Development — progressing as scheduled;
2. Skate Board Shop Grant Request — briefed on grant request and indicated use doesn't
fit classic grant program. Advised that use may better qualify for a Chapter 380
Sales Tax Sharing Agreement and that he would provide additional information at the
next meeting.
353
Mr. Hart then addressed current curtailment on water usage, Fallen Heroes Memorial,
possible expansion of Ray's Pharmacy, restoration of the Section House, and Chamber of
Commerce Strategic Planning Session.
B. Orasi Development Report
Jack Thompson, EDC Contract Provider reported that updated marketing packets have been
prepared and sent out to perspective retailers and he is awaiting responses back from such
retailers. He also briefly addressed retail /industrial markets.
V. PRESIDENTBOARD ANNOUNCEMENTS/REPORTS
A. President Announcements /Reports
1. Report agenda items to be posted for future meetings.
No report of agenda items to be posted for future meetings.
There being no further discussion, President Mundy announced no executive session
would be held and moved to adjournment of meeting.
VI. EXECUTIVE SESSION
A. The Economic Development Corporation will meet in closed session pursuant to Section
551.087 of the Texas Government Code to deliberate the offer of a financial or other
incentive to a business prospect with which the city is conducting economic development
negotiations.
1. Acquisition of Real Property
• 1000 E. Kennedale Parkway
• 5500 W. Kennedale Parkway
2. Texas Leverage Fund for Grover Corporation
VII. RECONVENE INTO OPEN SESSION AND TAKE ACTION PURSUANT TO
EXECUTIVE SESSION, IF NECESSARY.
No executive session was held.
VIII. ADJOURNMENT
There being no further discussion, President Mundy asked for a motion to adjourn.
Rebecca Mowell so moved and Darrell Erwin seconded the motion with all members present
voting in favor. Motion carried (4 -0). Meeting adjourned at 8:37 p.m.
ATTEST: APPROVED:
Kathy Turner, Secretary to EDC President, Robert Mundy
Staff Report
To the Members of the EDC4B Board
Date: September 21, 2010
Agenda Item No:
Subject: DISCUSS AND REVIEW JULY 2010 EDC FINANCIALS
Originated by: Sakura Moten - Dedrick
Summary:
Budget /Amendment
N/A
Year -To -Date
• Sales Tax: Revenues are significantly higher in comparison to this same time last year. The
EDC has experienced approximately a 691% increase for the month of July compared to July of
last year, and a 49% gain year -to -date compared to this same time last year. This is due to the
re- allocation of Majestic Liquors and several other smaller businesses that originally paid their
sales tax receipts to the wrong city (see Monthly Graph, 3 -Year Historical Graph, 10 -Year
Historical Data).
• Investment Earnings: Due to declining interest rates, revenues continue to be much lower
compared to this same time last year.
• Miscellaneous Income: Revenues are lower this year in comparison to last year. Last year
included approximately $128K for a gas lease and $354K for an insurance reimbursement due
to roof damage.
• Surplus Sales/Rentals: No significant change.
• Personnel: EDC Director position was eliminated a few months into last year, and this is why
no expenses are reflected in the current month.
• Supplies: Increase in expenses over this time last year. Approximately $6K was expensed for
aerial maps in Oct 09 and an additional $10K for printed supplies since Feb 10. These were
related to posters associated with the Kennedale Chamber and printed ads for the Kennedale
News for the ground breaking ceremony.
• Maintenance: No significant change.
• Sundry: Significant increase in expenses over this time last year. Last year included costs tied
to Town Center Plaza; however, this year includes a large portion tied to architecture and
design services related to the Town Center redevelopment.
• Debt: No significant change in reference to the $1.2M EDC Revenue Bond.
• Transfers: No significant change. The board did amend the budget in anticipation of a $25K
interest only payment on the $2M CO Bond. The actual payment of $26540 was due
05/01/2010. This was paid by the General Fund and then the General Fund was reimbursed by
EDC. Following reimbursement to General Fund will occur following its payment every Nov
($40K interest only) and May ($75K principal plus $40K interest).
• Capital: Significant increase in expenses over this time last year. Approximately $94K was for
roofing repairs to Subway in Nov 09 /Dec 09 and $246K in Feb 10 (both directly offset by
insurance reimbursement proceeds received in the prior fiscal year), approximately $380K was
for the purchase of right -of -way /land in Apr 2010 for 1121 West Kennedale Parkway, and
approximately $200K for the Town Center Redevelopment construction (private, not related to
bonds).
Estimate
The FY09 /10 Amended Budget anticipated an ending fund balance of approximately $495K, not
including the EDC Bond Fund Reserve. Due to the subsequent purchase of ROW /land in Apr 2010,
and the anticipated sale of such property before the end of FY09 /10, staff estimates the same fund
balance.
Recommended Motion: Staff recommends approval.
Disposition by Board:
CITY OF KENNEDALE, TEXAS
ANNUAL PROGRAM OF SERVICES
INCOME STATEMENT
15: EDC4B FUND
FY08 -09 FY08 -09 FY08 -09 FY08 -09 FY09 -10 FY09 -10 FY09 -10 FY09 -10
INCOME STATEMENT BUDGET AMENDED YTD JUL ACTUAL PROPOSED AMENDED YTD JUL ESTIMATE
OPERATING REVENUES 532,211 532,211 829,431 1,017,337 567,171 511,788 514,339 1,031,028
OPERATING EXPENDITURES (1,040,207) (1,040,207) (466,679) (529,367) (744,417) (1,631,540) (1,473,260) (2,132,514)
OPERATING INCOME /(LOSS) (507,996) (507,996) 362,752 487,970 (177,246) (1,119,752) (958,921) (1,101,486)
NONOPERATING REVENUES /(EXPENSES)
INTEREST EARNINGS 50,000 50,000 8,903 9,691 20,000 20,000 1,769 2,100
TRANSFERS IN - - - - - - - -
(TRANSFER OUT) - - - - 10,000 26,000 26,540 26,540
NET OPERATING INCOME /(LOSS) (457,996) (457,996) 371,655 497,662 (147,246) (1,073,752) (930,613) (1,072,846)
BEGINNING FUND BALANCE $1,097,354 $1,097,354 $1,097,354 $1,097,354 $ 1,595,015 $1,595,015 $1,595,015 $1,595,015
ENDING FUND BALANCE (EXCLUDING FUND 95) $ 639,358 $ 639,358 $1,469,009 $1,595,015 $ 1,437,769 $ 495,264 $ 637,863 $ 495,630
95: EDC4B RESERVE FUND $ 118,482 $ 118,482 $ 118,482 $ 119,418 $ 119,418 $ 119,418 $ 119,418 $ 119,418
ENDING FUND BALANCE (INCLUDING FUND 95) $ 757,840 $ 757,840 $1,587,491 $1,714,433 $ 1,557,187 $ 614,681 $ 757,280 $ 615,047
"EXEMPLIFYING EXCELLENCE"
CITY OF KENNEDALE, TEXAS
ANNUAL PROGRAM OF SERVICES
FUND SUMMARY BY CATEGORY
15: EDC4B FUND
FY08 -09 FY08 -09 FY08.09 FY08 -09 FY09 -10 FY09 -10 FY09 -10 FY09 -10 YTD
CATEGORY BUDGET AMENDED YTD JUL ACTUAL PROPOSED AMENDED YTD JUL ESTIMATE PERCENT
BEGINNING FUND BALANCE $1,097,354 $1,097,354 $1,097,354 $1,097,354 $ 1,595,015 $ 1,595,015 $ 1,595,015 $ 1,595,015
AD VALOREM TAXES - - - - - - - - 0.0%
SALES /BEVERAGE TAXES 357,011 357,011 193,946 298,682 323,571 306,744 324,979 429,338 105.9%
INVESTMENT EARNINGS 50,000 50,000 8,903 9,691 20,000 20,000 1,769 2,100 8.8%
MISCELLANEOUS INCOME - - 481,136 481,136 - - 21,065 397,327 #DIV /0!
SURPLUS SALES /RENTALS 175,200 175,200 154,348 237,518 243,600 205,044 168,296 204,363 82.1%
TOTAL REVENUES $ 582,211 $ 582,211 $ 838,334 $1,027,029 $ 587,171 $ 531,788 $ 516,108 $ 1,033,128 97.1%
PERSONNEL 108,109 108,109 42,792 37,549 - - - - 0.0%
SUPPLIES 29,300 29,300 6,601 9,351 33,860 28,860 20,235 23,946 70.1%
MAINTENANCE 22,680 22,680 18,177 23,052 23,790 23,790 12,288 28,605 51.7%
SUNDRY 572,801 572,801 251,382 311,688 417,537 1,024,582 374,477 571,183 36.5%
DEBT 212,317 212,317 147,726 147,726 164,230 114,230 114,149 114,149 99.9%
TRANSFERS - - - - 10,000 26,000 26,540 26,540 102.1%
CAPITAL 95,000 95,000 - - 95,000 414,078 925,572 1,368,091 223.5%
TOTAL EXPENDITURES $1,040,207 $1,040,207 $ 466,679 $ 529,367 $ 744,417 $ 1,631,540 $ 1,473,260 $ 2,132,514 90.3%
REVENUES OVER EXPENDITURES $ (457,996) $ (457,996) $ 371,655 $ 497,662 $ (157,246) $ (1,099,752) $ (957,152) $ (1,099,386) 87.0%
ENDING FUND BALANCE $ 639,358 $ 639,358 $1,469,009 $1,595,015 $ 1,437,769 $ 495,264 $ 637,863 $ 495,630
ADJUSTMENTS
"EXEMPLIFYING EXCELLENCE"
CITY OF KENNEDALE, TEXAS
ANNUAL PROGRAM OF SERVICES
REVENUE LINE ITEM SUMMARY
15: EDC4B FUND
FY08 -09 FY08 -09 FY08 -09 FY08 -09 FY09 -10 FY09 -10 FY09 -10 FY09 -10 YTD
ACCOUNT ACCOUNT NAME BUDGET AMENDED YTD JUL ACTUAL PROPOSED AMENDED YTD JUL ESTIMATE PERCENT
4001 -00 -00 PROPERTY TAX - CURRENT YEAR - - - - - - - - 0.0%
4002 -00 -00 ASSESSMENTS - CURRENT YEAR - - - - - - - - 0.0%
AD VALOREM TAXES $ - $ - $ - $ - $ - $ - $ - $ - 0.0%
4081 -00 -00 SALES TAX 354,000 354,000 193,946 298,682 323,571 306,744 324,979 429,338 105.9%
4082 -00 -00 MIXED BEVERAGE TAX 3,011 3,011 - - - - - 0.0%
SALES /BEVERAGE TAXES $357,011 $ 357,011 $ 193,946 $ 298,682 $ 323,571 $ 306,744 $ 324,979 $ 429,338 105.9%
4401 -00 -00 INVESTMENT INCOME 50,000 50,000 8,903 9,691 20,000 20,000 1,769 2,100 8.8%
INVESTMENT EARNINGS $ 50,000 $ 50,000 $ 8,903 $ 9,691 $ 20,000 $ 20,000 $ 1,769 $ 2,100 8.8%
4409 -00 -00 MISCELLANEOUS INCOME - - 127,058 127,058 - - 21,065 397,327 #DIV /0!
4415 -00 -00 INSURANCE REIMBURSEMENT - - 354,078 354,078 - - - - 0.0%
MISCELLANEOUS INCOME $ - $ - $ 481,136 $ 481,136 $ - $ - $ 21,065 $ 397,327 #DIV /01
4805 -00 -00 RENTAL FEES - SHOPPING CENTER 175,200 175,200 154,348 237,518 243,600 205,044 167,160 202,375 81.5%
4806 -00 -00 RENTAL INSURANCE - - - - - - 1,136 1,988 #DIV /0!
SURPLUS SALES /RENTALS $175,200 $ 175,200 $ 154,348 $ 237,518 $ 243,600 $ 205,044 $ 168,296 $ 204,363 82.1%
TOTAL REVENUES $582,211 $ 582,211 $ 838,334 $1,027,029 $ 587,171 $ 531,788 $ 516,108 $1,033,128 97.1%
TOTAL REVENUES (EXCLUDING INTEREST/TRANSFERS) $ 663,259 $ 567,171 $ 511,788 $ 514,339 $ 1,031,028
10% ADMIN CHARGE- GENERAL FUND 66,326 56,717 51,179 51,434 103,103
"EXEMPLIFYING EXCELLENCE"
CO CO V ( O m 0`1 m x'0
e- 0 0 m et_ r0 r CI y 0+ CO sY -
O F NN 1010 10 to aa
O ▪ > N l F 0 0e- 0 N N N N
N
J 0 O< N O 1) ( O 0 M 21 N M 0
r ¢ f0 N 1n N 11 e r M 0 O t0 et r
O� 10 O .- r- 10 O N10 0)0 0
e N co co co co co co M co co co co M N
N Q
0M OD N 0- et 41 41 W i`.- )0
• W O) O et N O CO 10 O 0 M N N 07 e-
,- 0) CO N 41 N U) _ e- CO CO O 0 V r
o 0 N O co N co 0 a 10
N M N N N N N CO M N 0) N N N
0 0 M
N ar
a
W 00 t'-N1)00M0r00N o
0 }-.: (0 CO 0 'P r CO CO (0 00 0 0 CO
Q(00Or 0000PtOOulN
2 al ts. 00 00 �} 0 00 OD N 10 t0 co co
O CV e- e- CV rN N V M NM t
N fA r V
W
at at at at at at at at at at at at
in 2 r M N 0 h 30 0 0 0 0 et O
F 7'7 'O ' N 0)'7 a � <
Y U r
N o e e e e e o e e e e e
Z N r l 00 0 M 0 et 0 A Cl r N
M N N o ( M N r ri
M 1f) n n'8 00 v Y n N 00
N 10 0 n M O A U) n O
Z N t 00 t0 M 0 t0 0 n F- N 00
Q0N yr r .0) a of 00 M MN
Jv '' N CV 04
CO 0 1'- 0) CO t. t. 0 r N M O
O ' . 00 V O 0 'V 10 CO . (O CO .010
e c'u7 0 0 ,- 10 10 0 N O r O 11
W 1- 0)010M N.: 1n M 0 00 t0 N
O tF 0 0. ON V ' 0 Nr O 10
N NM et et
0 0 0 0 0 M N '0- 1- r O e
O J M 00 e O CO M 00 (O M cO 10 N
M 0 e CO O O (0 r CO CO V N O
O F 0 n m W V 00 00 10 0 V n N
O (J N N e- (0 N a M N M O
N
0— N M co (O M 00 O 00 O V (0 R e
O 10 O co 0 co (0 00 M 0 0 0 CO V et o
C r (A O r O a 47 O 0O co co 0 0 N f O
p d Q N M co 0 M' N O r M V co 0;
O a N M e- M N M N M N M
N
(
N NMM(D CO 0 COO er b V o
F 0 J O M 0 CO 10 O0 CO CD C) 00 et V r
• QO n O V:: 1n 0000(60 CO . NA r
O N M O OiM ti N O'C M 7 (0 N
0 F N M M M e-- N CO N• 07. N O '
NQ M
O '4'. 0 n 0) O 00 10 r 6) V t0 e
0 J 0 p M r M M C) 4 0O 0 M N
Q¢ 0 10 V co to m N N CO X17 7 10 N (0
h 0 O M N O) V V O (0 M M e?
M U N M N N N N N co N co co N M
N Q
0 0 0 r (V 0) M r O 53 o
9 J O O M u7 0 r 0 0 t• V ' N
¢ r �- M t- 0 0 CO et co ,r
00 co M co 0 O (0 N O r t0 O N '?
U • N et N N N e- N M N N N CO M
N Q
40 V N M 10 10 (O (O 0 C) t0 c0 0
Q J 00 f- V N M 10 0 0 (O vo 00
¢ V N M cO (0 0 0 00 (O N 0 0 M l0
(0 0 O co a M 10 N a (0 r v 10 N n r
M U co co N N M N N M N N M N M
N
V O M 00 N 00 (0 '- r N f- t0 0
Q J r O r N O (0 co M 10 N (V t'- n 00
¢ N 0 M r OD M 0 M 0 0 N O 00 t0
0 0 co c.1 co co' a (p a N (V N
O U • N N N N M N N CO N N M N M
N Q
n n M V (0 10 0 00 n O
9 J M O N 0 V (O (O N N (O 0 e
9 r m V 0 r C co O
M = c0 co 00 . (0 N 0) cO CO 0 O 1) co 10
O M U N C7 N N M N N 07 co N M (V
O N Q
Z
O M J 0
0 0 ) M m M ( ( O 4- (00 ' co
¢
9 ¢O1n (`1 co co .1- c..) 0 0MOV.O
O N 0 (0 a CO CO N 07 0 10 N (0 N (4) () N
O U N M N N co N N co co co M N M
CC N
Et 0
(.1 O M00 et 0000 V (0 00(000 0
F N J O W (O N O— a 0 0 V f0 0 0) CO
Z 4¢ 0 0 W CO CO 0 CO N CO 0
W (0 0 0 CO M CO O N 7 CO V
M U N co co co co N N co co N co co M 4
d N Q
0
W
ca 0 0 0 ( ( M 00
W q? l0 r 0 M (0 V O O M 0 M t0
Cl O OO Ma O CO NN1�10 W et 01
V
0
Q N CO N N CO N N N N CO N M r
Q ] N
0 y
2 F Z
>Um > 2J U' 1L
O J O Z O W < W¢ »< W
N OOLL 2 Q2 -3 CO
3
0 d
W
N
Q
J
M J
//s
Q
1-
Q
°
4)
Z
C
W
_ .., Z
' o
C9
N
cc 1
X
Q
a
N
N
C s 0 Q
1-
0_
O Q U
y= ° Q
v .�
O = 0
a Q 0
O N N
U >-
N
O N
m
H- w
d u-
0
Q U
Q
o
-' o
0 0
C ■ U N
U T 0
in
W
O
Z
0
O
0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
0 0
0 0 0 0 c p' 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
o o v o o o L o v i o LC) o o o o o Sri o
�t M CO N N r O O o� o� op oo 1- u) v M M N N
t4 t4 b4.1- t4 too,- t4 � t4 �} e4 429- t9 4,,
go
b4 t4 t4 t'-? 64 64 64 b9" tf} , H }
N 0
s 6 ;- W
s.
N N („)
3
o
. U
P
H
K� Z Q
O O
tN
I I I
c4 0
ai
cc co
N O
ce
v-
v
H o
� Q
o N N
•
a} < Q o
O O r° "'
U o
o .
m
o
c o M
C
'� m a
M
fl. O r-
O ° o
N
V Z
0 •
V
•E
E
O W
c (9 o
0
0
W
>
M
M � � O
Z
2 U
N
0 0 0 O O 0 0 0 O 0 0 0 0 0 0 0 0 0 0 O 0 0 0 0 O O O O
O O O O O O O O O O O O O O O O O O O O 0 0 c(:::3 0 0 0 0 0
O O O O O O O O O O O O O O O O O O O O O O O O CD. O O
O O c) O v) O v) O u) O v) O LO O v) O v) O u) O 1) O LO O LO O LO
u) M co N N O O o. o o 1 O u) �t M M N N
�}�}tf}�{}tf} tf }tf}tf}tf} tf} t t b4 b4 b4 tf}tf}
b4 4.4 b4 b4 ''''9- 64 64 b4 b4 ('‘:3. b4
CYPRESS HISTORY FOR KENNEDALE TOWN SHOPPING CENTER
FY2009 -2010
ACCOUNT OCT NOV , ' .DEC JAN FEB MAR APR MAY JUN : JUL TOTAL
INCOME
Rental Income $ 16,568.00 $ 16,568.00 $ 16,568.00 $ 16,568.00 $ 16,568.00 $ 16,568.00 $ 16,568.00 $ 16,568.00 $ 16,568.00 $ 16,568.00 $ 198,816.00
Tax Escrows $ 1,696.00 $ 1,696.00 $ 1,669.00 $ 1,669.00 $ 1,669.00 $ 1,669.00 $ 1,669.00 $ 1,669.00 $ 1,669.00 $ 1,669.00 $ 20,082.00
Insurance Escrows $ 115.00 $ 115.00 $ 142.00 $ 142.00 $ 142.00 $ 142.00 $ 142.00 $ 142.00 $ 142.00 $ 142.00 $ 1,650.00
CAM Escrows $ 1,040.00 $ 1,040.00 $ 1,040.00 $ 1,040.00 $ 1,040.00 $ 1,040.00 $ 1,040.00 $ 1,040.00 $ 1,040.00 $ 1,040.00 $ 12,480.00
Security Deposit $ - $ - $ 2,957.00 $ - $ - $ - $ - $ - $ - $ - $ 2,957.00
TOTAL INCOME $ 19,419.00 $ 19,419.00 $ 22,376.00 $ 19,419.00 $ 19,419.00 $ 19,419.00 $ 19,419.00 $ 19,419.00 $ 19,419.00 $ 19,419.00 $ 235,985.00
EXPENSES
General & Admin $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ -
Property Mgmt $ (776.76) $ (776.76) $ (500.00) $ (500.00) $ (500.00) $ (500.00) $ (500.00) $ (500.00) $ (500.00) $ (500.00) $ (6,553.52)
Office Expenses $ - $ - $ - $ - $ - $ - $ - $ - $ (34.35) $ - $ (34.35)
Bank Charges $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ -
Rental Commissions $ - $ (3,696.00) $ - $ - $ - $ - $ - $ - $ - $ - $ (3,696.00)
Electricity $ (224.56) $ (197.99) $ (394.46) $ (519.52) $ - $ (268.48) $ - $ - $ - $ (871.53) $ (2,548.52)
Sweeping $ (300.00) $ (600.00) $ (300.00) $ - $ (300.00) $ - $ (600.00) $ (300.00) $ (300.00) $ (300.00) $ (3,600.00)
Porter service $ (90.00) $ - $ - $ - $ - $ - $ - $ - $ - $ - $ (90.00)
Landscape $ (320.00) $ (640.00) $ (320.00) $ - $ (320.00) $ - $ (640.00) $ (320.00) $ (320.00) $ (320.00) $ (3,840.00)
Fire Sprinkler /Alarm $ (150.00) $ - $ - $ - $ - $ - $ - $ - $ - $ (450.00) $ (600.00)
Hard Surface Repair $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ -
Asphalt $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ -
Elec Supplies $ (60.39) $ (514.86) $ - $ - $ - $ - $ - $ - $ - $ - $ (575.25)
Mntc Supplies $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $
Roofing Repair $ (625.38) $ - $ - $ - $ - $ - $ - $ - $ - $ - $ (625.38)
Signage $ - $ - $ - $ - $ - $ - $ - $ - $ - $ (372.00) $ (372.00)
TOTAL EXPENSES $ (2,547.09) $ (6,425.61) $ (1,514.46) $ (1,019.52) $ (1,120.00) $ (768.48) $ (1,740.00) $ (1,120.00) $ (1,154.35) $ (2,813.53) $ (22,535.02)
ADJUSTMENTS
Operating Balance $ - $ - $ (10,000.00) $ - $ - $ - $ - $ - $ - $ - $ (10,000.00)
TOTAL ADJUSTMENTS $ - $ - $ (10,000.00) $ - $ - $ - $ - $ - $ - $ - $ (10,000.00)
NET PROFIT /(LOSS) -CHECK $ 16,871.91 $ 12,993.39 $ 10,861.54 $ 18,399.48 $ 18,299.00 $ 18,650.52 $ 17,679.00 $ 18,299.00 $ 18,264.65 $ 16,605.47 $ 203,449.98
Total Rental Income Posted $ 19,419.00 $ 6,876.69 $ 17,608.00 $ 17,608.00 $ 17,608.00 $ 17,608.00 $ 17,608.00 $ 17,608.00 $ 17,608.00 $ 17,608.00 $ 202,375.69
CITY OF KENNEDALE, TEXAS
ANNUAL PROGRAM OF SERVICES
EXPENDITURE LINE ITEM SUMMARY
15: EDC4B FUND
01: ADMINISTRATION
FY08 -09 FY08 -09 FY08 -09 FY08 -09 FY09 -10 FY09 -10 FY09 -10 FY09 -10 YTD
ACCOUNT ACCOUNT NAME BUDGET AMENDED YTD JUL ACTUAL PROPOSED AMENDED YTD JUL ESTIMATE PERCENT
5101 -01 -00 SALARIES 77,690 77,690 32,502 32,502 - - - - 0.0%
5107 -01 -00 OVERTIME 3,000 3,000 - - - - - - 0.0%
5111 -01 -00 AUTO ALLOWANCE 4,800 4,800 1,278 1,278 - - - - 0.0%
5114 -01 -00 LONGEVITY - - 184 184 - - - - 0.0%
5115 -01 -00 RETIREMENT 9,344 9,344 3,871 3,871 - - - - 0.0%
5116 -01 -00 UNEMPLOYMENT INSURANCE - - 108 108 - - - - 0.0%
5117 -01 -00 FICA 6,540 6,540 2,598 2,598 - - - - 0.0%
5118 -01 -00 MEDICAL INSURANCE 6,000 6,000 2,071 2,071 - - - - 0.0%
5120 -01 -00 LIFE INSURANCE 255 255 58 58 - - - - 0.0%
5121 -01 -00 DENTAL INSURANCE 360 360 95 95 - - - - 0.0%
5122 -01 -00 VISION INSURANCE 120 120 29 29 - - - - 0.0%
5190 -01 -00 VACATION /SICK /TERM /LEAVE ADJ - - - (5,243) - - - - 0.0%
PERSONNEL $108,109 $ 108,109 $ 42,792 $ 37,549 $ - $ - $ - $ - 0.0%
5220 -01 -00 UNIFORMS 600 600 - - 300 300 - - 0.0%
5240 -01 -00 PRINTED SUPPLIES 14,000 14,000 2,875 4,449 25,000 22,000 19,247 22,000 87.5%
5260 -01 -00 GENERAL OFFICE SUPPLIES 1,500 1,500 332 332 500 500 155 250 30.9%
5261 -01 -00 POSTAGE 1,000 1,000 128 128 1,000 500 - 250 0.0%
5280 -01 -00 MINOR EQUIP /SMALLTOOLS<$5K 3,000 3,000 - - 1,000 - 196 196 #DIV /01
5290 -01 -00 EXPENDABLE SUPPLIES 1,500 1,500 1,023 1,023 1,500 1,000 12 250 1.2%
SUPPLIES $ 21,600 $ 21,600 $ 4,358 $ 5,932 $ 29,300 $ 24,300 $ 19,610 $ 22,946 80.7%
5403 -01 -00 BUILDING MAINTENANCE - - - - - - - 4,815 0.0%
5440 -01 -00 OFFICE EQUIP /SOFTWARE MAINT 1,000 1,000 - - - - - - 0.0%
MAINTENANCE $ 1,000 $ 1,000 $ - $ - $ - $ - $ - $ 4,815 0.0%
5501 -01 -00 ADVERTISING 18,000 18,000 789 789 11,000 5,000 14,010 15,000 280.2%
5510 -01 -00 ASSOC DUES /PUBLICATIONS 1,400 1,400 334 334 1,000 200 925 1,000 462.5%
5512 -01 -00 CONTRACTUAL SERVICES 300,500 130,000 125,354 121,854 - - - - 0.0%
5525 -01 -00 TRAINING /SEMINARS 2,800 2,800 430 430 2,500 1,000 - - 0.0%
5565 -01 -00 LEGAL SERVICES 25,000 25,000 21,636 27,340 40,000 40,000 25,122 40,000 62.8%
5567 -01 -00 AUDIT SERVICES 3,000 3,000 3,000 3,000 4,000 4,000 1,500 1,500 37.5%
5569 -01 -00 IT SUPPORT - - - - - - - - 0.0%
5570 -01 -00 SPECIAL SERVICES 90,000 85,500 17,243 27,870 78,920 103,420 84,015 135,000 81.2%
5575 -01 -00 EQUIPMENT RENTAL 1,000 1,000 - - - - 358 358 #DIV /0!
5578 -01 -00 TRAVEL 7,450 7,450 254 284 6,000 700 122 250 17.4%
5580 -01 -00 ENGINEERING SERVICES 25,000 - - - - - - - 0.0%
5585 -01 -00 TELEPHONE SERVICES 600 600 294 294 - - - - 0.0%
5595 -01 -00 ADMIN CHARGE - GENERAL FUND 53,221 53,221 40,685 66,326 56,717 52,862 54,009 103,103 102.2%
SUNDRY $527,971 $ 327,971 $210,018 $ 248,521 $ 200,137 $ 207,182 $180,061 $ 296,211 86.9%
5610 -01 -00 VISUAL GRANT 100,000 100,000 36,417 36,417 50,000 - - - 0.0%
5615 -01 -00 FUNCTIONAL GRANT 1 1 - - - - - - 0.0%
5625 -01 -00 ISSUANCE COST - - - - - - - - 0.0%
DEBT $100,001 $ 100,001 $ 36,417 $ 36,417 $ 50,000 $ - $ - $ - 0.0%
5701 -01 -00 TRANSFER OUT - GENERAL FUND - - - - 10,000 1,000 - - 0.0%
5714 -01 -00 TRANSFER OUT - DEDICATION FUND - - - - - - - - 0.0%
5795 -01 -00 TRANSFER OUT -EDC RESERVE FUND - - - - - - - - 0.0%
TRANSFERS $ - $ - $ - $ - $ 10,000 $ 1,000 $ - $ - 0.0%
5800 -01 -00 LAND 25,000 25,000 - - 25,000 - 379,584 379,584 #DIV /0!
5813 -01 -00 KENNEDALE ENTRANCE SIGN 45,000 45,000 - - 45,000 45,000 - - 0.0%
5820 -01 -00 BUILDING IMPROVEMENT 25,000 25,000 - - 25,000 369,078 351,004 351,003 95.1%
CAPITAL $ 95,000 $ 95,000 $ - $ - $ 95,000 $ 414,078 $730,588 $ 730,587 176.4%
TOTAL EXPENDITURES $853,681 $ 653,681 $293,585 $ 328,419 $ 384,437 $ 646,560 $930,258 $1,054,559 143.9%
"EXEMPLIFYING EXCELLENCE'
CITY OF KENNEDALE, TEXAS
ANNUAL PROGRAM OF SERVICES
EXPENDITURE LINE ITEM SUMMARY
15: EDC4B FUND
01: ADMINISTRATION
03: DEBT SERVICE
FY08 -09 FY08 -09 FY08 -09 FY08 -09 FY09 -10 FY09 -10 FY09 -10 FY09 -10 YTD
ACCOUNT ACCOUNT NAME BUDGET AMENDED YTD JUL ACTUAL PROPOSED AMENDED YTD JUL ESTIMATE PERCENT
5620 -01 -03 ISSUANCE COSTS - - - - - - - - 0.0%
5621 -01 -03 PAYING AGENT FEES 1,000 1,000 - - - - - - 0.0%
5643 -01 -03 2007 $1.2M TAX BOND - INTEREST 81,316 81,316 81,309 81,309 79,230 79,230 79,149 79,149 99.9%
5643 -01 -03 2007 $1.2M TAX BOND - INTEREST 30,000 30,000 30,000 30,000 35,000 35,000 35,000 35,000 100.0%
DEBT $112,316 $ 112,316 $111,309 $ 111,309 $ 114,230 $ 114,230 $114,149 $ 114,149 99.9%
5702 -01 -03 TRANSFER OUT -DEBT SERVICE FUND - - - - - 25,000 26,540 26,540 106.2%
TRANSFER $ - $ - $ - $ - $ - $ 25,000 $ 26,540 $ 26,540 106.2%
TOTAL EXPENDITURES $112,316 $ 112,316 $111,309 $ 111,309 $ 114,230 $ 139,230 $140,689 $ 140,689 101.0%
"EXEMPLIFYING EXCELLENCE"
CITY OF KENNEDALE, TEXAS
ANNUAL PROGRAM OF SERVICES
EXPENDITURE LINE ITEM SUMMARY
15: EDC4B FUND
02: TOWN SHOPPING CENTER
FY08 -09 FY08 -09 FY08 -09 FY08 -09 FY09 -10 FY09 -10 FY09 -10 FY09 -10 YTD
ACCOUNT ACCOUNT NAME BUDGET AMENDED YTD JUL ACTUAL PROPOSED AMENDED YTD JUL ESTIMATE PERCENT
5280 -02 -00 MINOR EQUIP /SMALL TOOLS <$5K 7,700 7,700 2,243 3,419 4,560 4,560 625 1,000 13.7%
SUPPLIES $ 7,700 $ 7,700 $ 2,243 $ 3,419 $ 4,560 $ 4,560 $ 625 $ 1,000 13.7%
5403 -02 -00 BUILDING MAINTENANCE 21,680 21,680 18,177 23,052 23,790 23,790 12,288 23,790 51.7%
MAINTENANCE $ 21,680 $ 21,680 $ 18,177 $ 23,052 $ 23,790 $ 23,790 $ 12,288 $ 23,790 51.7%
5501 -02 -00 ADVERTISING 1,000 1,000 - - - - - - 0.0%
5510 -02 -00 ASSOC DUES /PUBLICATIONS 1,230 1,230 - - - - - - 0.0%
5512 -02 -00 CONTRACTUAL SERVICES 14,800 14,800 6,237 13,236 - - - - 0.0%
5530 -02 -00 ELECTRIC SERVICES 6,100 6,100 3,579 3,990 7,800 7,800 2,609 5,500 33.4%
5545 -02 -00 INSURANCE - PROPERTY 20,900 20,900 - - - - 3,779 3,779 #DIV /0!
5565 -02 -00 LEGAL SERVICES - - - - - - - - 0.0%
5570 -02 -00 SPECIAL SERVICES 800 800 (25) (25) 9,600 9,600 9,137 10,636 95.2%
SUNDRY $ 44,830 $ 44,830 $ 9,791 $ 17,202 $ 17,400 $ 17,400 $ 15,524 $ 19,915 89.2%
TOTAL EXPENDITURES $ 74,210 $ 74,210 $ 30,211 $ 43,673 $ 45,750 $ 45,750 $ 28,438 $ 44,705 62.2%
"EXEMPLIFYING EXCELLENCE"
CITY OF KENNEDALE, TEXAS
ANNUAL PROGRAM OF SERVICES
EXPENDITURE LINE ITEM SUMMARY
15: EDC4B FUND
03: TOWN CENTER REDEVELOPMENT
FY08-09 FY08 -09 FY08 -09 FY08 -09 FY09 -10 FY09 -10 FY09 -10 FY09 -10 YTD
ACCOUNT ACCOUNT NAME BUDGET AMENDED YTD JUL ACTUAL PROPOSED AMENDED YTD JUL ESTIMATE PERCENT
5570 -03 -00 SPECIAL SERVICES - 100,000 5,327 18,370 100,000 266,667 115,978 115,643 43.5%
5579 -03 -00 ARCHITECT /DESIGN SERVICES - 75,000 13,832 13,832 75,000 266,667 48,687 48,687 18.3%
5580 -03 -00 ENGINEERING SERVICES - 25,000 12,414 13,764 25,000 266,667 14,227 90,727 5.3%
SUNDRY $ - $ 200,000 $ 31,574 $ 45,966 $ 200,000 $ 800,000 $ 178,892 $ 255,057 22.4%
5875 -03 -00 CONSTRUCTION - - - - - - 194,984 637,504 #DIV /0!
CAPITAL $ - $ - $ - $ - $ - $ - $ 194,984 $ 637,504 #DIV /0!
$ - $ 200,000 $ 31,574 $ 45,966 $ 200,000 $ 800,000 $ 373,875 $ 892,561 46.7%
"EXEMPLIFYING EXCELLENCE"
StaffReport
To KEDC Board of Directors
Date: September 18, 2010
Agenda Item No: III - C.
Subject: Review and consider action to approve staff to submit for a loan with the
Texas Leverage Fund.
Originated by: Bob Hart, City Manager
Summary: Bob will address item during the meeting.
Recommendation:
Disposition by KEDC Board of Directors:
StaffReport
To KEDC Board of Directors
Date: September 18, 2010
Agenda Item No: III - D.
Subject: Review and consider action on the uses and opportunities with Arsoul
Karbosi's Industrial buildings on Kennedale Parkway.
Originated by: Bob Hart, City Manager
Summary: Bob will address item during the meeting.
Recommendation:
Disposition by KEDC Board of Directors:
StaffReport
To KEDC Board of Directors
Date: September 18, 2010
Agenda Item No: III - E.
Subject: Review and consider action on welcome sign to be located on Dick Price
Road.
Originated by: Kathy Turner, City Secretary
Summary: Bob Hart, Executive Director /City Manager indicated that the Keep
Kennedale Beautiful Commission would like to place a Welcome to
Kennedale monument sign on the south portion of Dick Price Road, and is
requesting that the EDC pay a portion of the cost.
The board took action to table the item to allow for further input from EDC
Board Member, Doug Parker as he is the representing member from the
EDC on the Keep Kennedale Beautiful Commission and requested the
agenda item.
Recommendation:
Disposition by KEDC Board of Directors:
StaffReport
To KEDC Board of Directors
Date: September 18, 2010
Agenda Item No: III - F.
Subject: Receive report from the Keep Kennedale Beautiful Commission.
Originated by: Kathy Turner, City Secretary
Summary: The board took action to table the item to allow for further input from EDC
Board Member, Doug Parker as he is the representing member from the
EDC on the Keep Kennedale Beautiful Commission and requested the
agenda item.
Recommendation:
Disposition by KEDC Board of Directors:
StaffReport
To KEDC Board of Directors
Date: September 16, 2010
Agenda Item No: III - G.
Subject: Review and consider action to change date and time of future meetings.
Originated by: Kathy Turner, City Secretary
Summary: Discussion will take place to see if there is a need to schedule any upcoming
workshops and /or special meetings, as well as discuss the October 19, 2010
regular meeting date to see if there is a need to reschedule.
Recommendation:
Disposition by KEDC Board of Directors:
StaffReport
To KEDC Board of Directors
Date: September 16, 2010
Agenda Item No: Iv.
Subject: Staff Announcements /Reports
Originated by: Bob Hart, Executive Director
Summary: Board of Directors will receive announcements /reports from the following:
A. KEDC Executive Director Announcement /Reports
1. TownCenter Development
2. 911 Memorial
B. Orasi Development Report
Recommendation:
Disposition by KEDC Board of Directors:
StaffReport
To KEDC Board of Directors
Date: September 16, 2010
Agenda Item No: v.
Subject: President/Board Announcements /Reports
Originated by: Kathy Turner, KEDC Secretary
Summary: A. President Announcements/Reports
1. Report agenda items to be posted for future meetings.
Recommendation:
Disposition by KEDC Board of Directors:
Staff Report
To KEDC Board of Directors
Date: September 16, 2010
Agenda Item No: VI.
Subject: Executive Session.
Originated by: Kathy Turner, KEDC Secretary
Summary: A. The Economic Development Corporation will meet in closed session
pursuant to Section 551.087 of the Texas Government Code to
deliberate the offer of a financial or other incentive to a business
prospect with which the EDC is conducting economic development
negotiations.
1. Acquisition of Property
• 1000 E. Kennedale Parkway
• 1170 E. Kennedale Parkway
• 1117 and 1119 W. Kennedale Parkway
• 7200 Block of Hudson Village Creek Road and Bloxom
Park Road
2. Texas Leverage Fund for Grover Corporation
Recommendation:
Disposition by KEDC Board of Directors:
StaffReport
To KEDC Board of Directors
Date: September 16, 2010
Agenda Item No: VII.
Subject: Reconvene into open session and take action necessary pursuant to executive
session, if needed.
Originated by: Kathy Turner, Secretary to EDC
Summary:
Recommendation:
Disposition by KEDC Board of Directors: