HomeMy WebLinkAboutColleyville Economic Development Corporation (CEDC) Resolutions (R-09-105)-08/25/2009RESOLUTION R-09-105
A RESOLUTION ADOPTING THE ECONOMIC DEVELOPMENT CAPITAL
IMPROVEMENT PROGRAM (EDCIP) FOR FISCAL YEARS 2010-2014
WHEREAS, the bylaws of the Colleyville Economic Development Corporation require
that an Economic Development Capital Improvement Program be developed
setting forth long and short-term goals that address the needs of the City
within the financial constraints of revenues 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 BOARD OF DIRECTORS OF THE
COLLEYVILLE ECONOMIC DEVELOPMENT CORPORATION:
Sec. 1. THAT the Economic Development Capital Improvement Program of the
Colleyville Economic Development Corporation (Exhibit A) is hereby
adopted.
Sec. 2. THAT once approved, the EDCIP will be forwarded to the City Council for
their subsequent approval.
Sec. 3. THAT this Resolution shall become effective on the date of passage.
AND IT IS SO RESOLVED.
PASSED AND ADOPTED, THIS August 25, 2009.
COLLEYVILLE ECONOMIC
DEVELOPMENT CORPORATION
l~
David Kelly
President
ATTEST•
~k~
!.~
Cynthia Singleton
Secretary
COLLEYVILLE ECONOMIC DEVELOPMENT CORPORATION
ECONOMIC DEVELOPMENT CAPITAL IMPROVEMENT PROGRAM FY 2010 - FY 2014
FISCAL YEAR
BEGINNING FUND BALANCE
'~~~
PROJECTED 1/2 CENT SALES TAX REVENUE
INTEREST INCOME
USE OF AVAILABLE CASH
TOTAL REVENUES
:::::..:
::T;
~XF?ENDI..~l,: ES .. .... ..,.,... ,
OPERATING:
ADMINISTRATIVE
2005 DEBT SERVICE & 1.4 TIMES COVERAGE
MARKETING
KEEP COLLEYVILLE BEAUTIFUL AGENCY AGREEMENT
WATER - MC PHERSON PARK
PERSONNEL -SENIOR CENTER
PERSONNEL-LIBRARY
OPERATIONS -LIBRARY
EXHIBIT A
2009 2010 2011 2012 2013 2014
$1,881,856 $2,075,384 $833,658 $711,490 $677,072 $659,853
$1,280,688 $1,280,688 $1,306,301 $1,332,427 $1,359,076 $1,386,257
$16,755 $25,942 $10,421 $8,894 $8,463 $8,248
$0 $1,497,996 $377,572 $290,751 $274,233 $249,545
$1,297,442 $2,804,626 $1,694,294 $1,632,072 $1,641,773 $1,644,050
$2,000 $2,000 $2,000 $2,000 $2,000 $2,000
$900,473 $904,806 $901,873 $905,223 $907,711 $902,482
$59,462 $216,400 $144,400 $144,400 $144,400 $144,400
$p $3,000 $3,000 $3,000 $3,000 $3,000
$0 $35,000 $36,050 $37,132 $38,245 $39,393
$64,429 $70,654 $74,187 $77,896 $81,791 $85,880
$0 $0 $68,181 $70,226 $72,333 $74,503
$0 $0 $4,046 $4,167 $4,292 $4,421
$7,500 $10,000 $10,000 $10,000 $10,000 $10,000
$179,680
$15,195 $293,521 $0 $0 $0 $0
$0 $0 $165,331 $165,331 $165,331 $165,331
$0 $575,000 $0 $0 $0 $0
$0 $0 $157,500 $215,000 $215,000 $215,000
$0 $86,491 $0 $0 $0 $0
$132,454 $270,000 $0 $0 $0 $0
$0 $200,000 $0 $0 $0 $0
$0 $40,000 $130,000 $0 $o $0
$0 $100,000 $0 $0 $0 $0
$1,361,193 $2,806,872 $1,696,568 $1,634,375 $1,644,104 $1,646,411
($63,750) ($2,246) ($2,274) ($2,302) ($2,331) ($2,360)
$257,27$ $258,516 $257,678 $258,635 $259,346 $257,852
$2,075,384 $833,658 $711,490 $677,072 $659,853 $665,800
TRANSFER TO ARTS FUND
CAPITAL:
ENTRY MARKER
INTERFUND LOAN - COLLEYVILLE CENTER RENOVATION
($661,325 REPAID OVER 4 YEARS)
LIBRARY SECOND FLOOR EXPANSION
FUTURE PROJECTS
LIBRARY -COLLECTION SORTER
PLEASANT RUN TRAIL
SENIOR CENTER
OPEN AREA (SENIOR ELEMENTS)
CITYWIDE TRAIL SYSTEM
TRAIL CONSTRUCTION - WEBB HOUSE CROSSING
TRAIL CONSTRUCTION - L.D. LOCKETT HOUSE PATH
TOTAL EXPENDITURES
EXCESS REVENUES OVER EXPENDITURES
ADD BACK .4 TIMES BOND COVERAGE RATIO
ENDING FUND BALANCE
ASSUMPTIONS: FY 2010: 1/2 OF CITY SALES TAX BUDGET PROJECTION / FY 2011 - 2014: 2% GROWTH