HomeMy WebLinkAboutColleyville Economic Development Corporation (CEDC) Resolutions (R-05-81)-08/23/2005
RESOLUTION R-05-81
A RESOLUTION ADOPTING THE ECONOMIC DEVELOPMENT CAPITAL
IMPROVEMENT PROGRAM (EDCIP) FOR 2006-2010
WHEREAS, the Bylaws of the Colleyville Economic Development Corporation require
that annually the Board develop a combined Economic Development
Capital Improvement Program; and
WHEREAS, the program will address the development needs of the City within the
financial constraints available to the Corporation; and
WHEREAS, the EDCIP shall identify the projects to be undertaken by the Corporation
and include proposed methods and the expected cost of the
implementation.
NOW, THEREFORE, BE IT RESOLVED BY THE ECONOMIC DEVELOPMENT
CORPORATION BOARD OF DIRECTORS:
Sec. 1.
THAT the Economic Development Capital Improvement Program (EDCIP)
is hereby attached as Exhibit "A" that lists those projects and programs
recommended for implementation for FY 2006-2010.
Sec. 2.
THAT once approved, the EDCIP will be forwarded to the City Council for
their subsequent approval.
AND IT IS SO RESOLVED,
PASSED BY A VOTE OF 1 AYES, 0 NAYS AND 0 ABSTENTIONS ON
THIS Z~3N....d DAY OF O~~ 2005.
COLLEYVILLE ECONOMIC DEVELOPMENT
CORPORATION
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~on Ayers .
President
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Cynthia Singleton
Secretary
COLLEYVILLE ECONOMIC DEVELOPMENT COPRORATION
ECONOMIC DEVELOPMENT CAPITAL IMPROVEMENT PROGRAM FY 2006 - FY 2010
FISCAl YEAR
BEGINNING FUND BAlANCE
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PROJECTED 1/2 CENT SAlES TAX REVENUE
INTEREST INCOME
2005 BOND SALE PROCEEDS
USE OF AVAIlABLE CASH
TOTAl REVENUES
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OPERATING:
ADMINISTRATIVE
2005 DEBT SERVICE & 1.4 TIMES COVERAGE
1997 DEBT SERVICE & 1.4 TIMES COVERAGE
2000 DEBT SERVICE & 1.4 TIMES COVERAGE
MARKETING
CAPITAL:
ADA IMPROVEMENTS
NATURE CENTER PARK
SPARGER PARK
COLLEYVILLE CENTER CHAIR REPLACEMENT
MC PHERSON PARK
Phase I
Phase I (Bond Sale Proceeeds)
Phase II
CITY PARK ROAD EXTENSION
PLEASANT RUN PRACTICE FIELD PARKING LOT
PARK LAND PURCHASE (Bond Sale Proceeds)
SENIOR CENTER
FACILITY (Bond Sale Proceeds)
FF&E AND RENOVATIONS
OPEN AREA DEVElOPMENT
CITYWIDE IRRIGATION MONITORING SYSTEM
CITYWIDE TRAIL SYSTEM
GRANT MATCH
TRAIL CONSTRUCTION
TOTAL EXPENDITURES
EXCESS REVENUES OVER EXPENDITURES
ADD BACK .4 TIMES BOND COVERAGE RATIO
ENDING FUND BAlANCE
PROJECTED
2005
$949,709
$944,932
$15,435
$0
$0
$960,367
$5,000
$0
$665,606
$179,549
$0
$0
$0
$36,000
$0
$0
$0
$0
$0
$0
$0
$35,000
$0
$0
$0
$0
$921,155
$39,213
$241,473
$1,230,394
2006
$1,230,394
$963,831
$36,912
$2,000,000
$777,357
$3,778,099
$5,000
$900,099
$0
$0
$80,000
$95,000
$0
$0
$238,000
$400,000
$0
$130,000
$50,000
$400,000
$1,200,000
$150,000
$0
$50,000
$0
$80,000
$3,778,099
$0
$257,171
$710,209
2007
$710,209
$1,002,384
$21,306
$0
$299,223
$1,322,912
$5,000
$904,913
$0
$0
$80,000
$0
$125,000
$0
$0
$0
$0
$0
$0
$0
$0
$0
$108,000
$0
$0
$100,000
$1,322,913
$0
$258,547
$669,533
2008
$669,533
$1,042,479
$20,086
$0
$302,453
$1,365,018
$5,000
$910,018
$0
$0
$80,000
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$300,000
$70,000
$1,365,018
$0
$260,005
$627,086
Exhibit A
2009
$627,086
$1,084,178
$18,813
$0
$382,482
$1,485,473
$5,000
$900,473
$0
$0
$80,000
$0
$0
$0
$0
$0
$0
$0
$0
$500,000
$0
$0
$0
$0
$0
$0
$0
$0
$0
$1,485,473
$0
$257,278
$501,883
ASSUMPTIONS: FY 2006: 1/2 OF CITY SALES TAX BUDGET PROJECTION / FY 2007 - 2010: 4% GROWTH DUE TO COLLEYVILLE BLVD. CONSTRUCTION
2010
$501,883
$1,127,545
$15,056
$0
$247,204
$1,389,806
$5,000
$904,806
$0
$0
$80,000
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$300,000
$0
$0
$100,000
$1,389,806
$0
$258,516
$513,195