HomeMy WebLinkAboutColleyville Economic Development Corporation (CEDC)-Minutes-08/24/2017
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City of Colleyville
Colleyville Economic
Development
Corporation Board
Minutes
City Hall
100 Main Street
Colleyville, Texas 76034
817. 503.1000
www.colleyville.com
Thursday, August 24, 2017
Vice President Richard Newton called the Colleyville Economic Development
Corporation Board meeting to order on August 24, 2017, at 5:00 p.m.
ROLL CALL: Vice President Richard Newton, Directors George Dodson, Amy
Dowell, Bobby Lindamood, Tammy Nakamura, John Terhoeve, and Mark Slosson
General Manager Jerry Ducay, Chief Financial Officer Shereen Gendy, Strategic
Services Manager Adrienne Lothery, and Secretary Amy Shelley
2. CONSENT: READING AND PUBLIC HEARING - Resolution R-17-142
2a Approval of the minutes of the Colleyville Economic Development
Corporation Board of Directors meeting of August 23, 2016
2b Approval of the minutes of the Colleyville Economic Development
Corporation Board of Directors Worksession of August 8, 2017
2c Approval of the annual review of the Colleyville Economic Development
Corporation's Investment Policy
Vice President Newton read Resolution R-17-142 in its entirety.
Vice President Newton asked staff about the “delegation of authority” relative to
CEDC Investment Policy, and who is the corporation’s manager. Accounting
Manager Karen Hines replied the investment policy will be updated soon, and the
corporation’s manager had not been designated. Vice President Newton stated he
believed it would be the city manager or the CFO. City Manager Jerry Ducay
agreed, and the day-to-day administrator would be the CFO.
Vice President Newton stated the “10 percent” in the following investment policy,
“Funds received by the investment officer from the business organization exceed
10 percent of the investment officer’s gross income for the previous year” seems a
little high.
Vice President Newton asked staff if the investment policy will be reviewed this
next year. Manager Hines replied yes.
Director Dowell asked staff if the IPS is specific to the City or to the CEDC.
Manager Hines replied it would be specific to the CEDC as there is a separate
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Development Corporation Minutes August 24, 2017
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policy for the City. City Manager Jerry Ducay stated he believed the policy would
be similar. Manager Hines concurred and stated the CEDC policy was derived from
the City’s language.
Vice President Newton asked staff if this policy is modified, will it be brought back
to the board for approval. City Manager Jerry Ducay replied yes, and changes
could be coming sooner rather than later.
Director Terhoeve asked staff if there would be a benefit to having a citywide
investment policy rather than two separate policies. City Manager Jerry Ducay
replied that would be his preference, but at this time, he is unaware of Charter
requirements or how the board was created.
Vice President Newton opened the public hearing at 5:10 p.m.
There was no one present wishing to speak and Vice President Newton closed the
public hearing at 5:10 p.m.
Director Nakamura made a motion to approve Resolution R-17-142.
Director Lindamood seconded the motion.
The motion carried by the following vote:
Aye: 7 – Vice President Richard Newton, Directors George Dodson, Amy
Dowell, Bobby Lindamood, Tammy Nakamura, John Terhoeve, and Mark
Slosson
3. RESOLUTION(S): READING AND PUBLIC HEARING
3a Resolution R-17-143
Adopting the Economic Development Capital Improvement Program
(EDCIP) for the Fiscal Years 2018-2022 of the Colleyville Economic
Development Corporation
Vice President Newton read Resolution R-17-143 in its entirety.
Strategic Services Manager Adrienne Lothery presented this item and answered
questions of the Board.
Vice President Newton asked staff if the capital portion of the CIP is being
approved this evening. Manager Lothery replied the EDCIP is the five year
document; however, most review done here is also for the budget adoption, up
next.
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Development Corporation Minutes August 24, 2017
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Director Terhoeve asked staff if the incremental increases are from additional staff
or transition. Manager Lothery replied it is moving those expenditures from the
General Fund to the CEDC, there are no new positions being hired or planned.
Director Terhoeve asked staff why the moves were not done all at once. Manager
Lothery replied it was a phase in plan, but it could have been done all at once, if
so desired.
Director Terhoeve asked staff when the renewal or expiration for the ½ cent sales
tax for the CEDC is. Manager Lothery replied she has not found there to be a
renewal or expiration, only an expiration for CCCPD.
Director Dowell asked staff how the community will see a benefit, based on
philosophical policy, by shifting Library personnel from the General Fund to the
CEDC. City Manager Jerry Ducay replied the same way the community sees the
fund balance with no capital plan for the next five years as how to spend it.
Director Terhoeve asked staff about the high level narrative for FY 2018. Manager
Lothery replied the bylaws require a year-end review and therefore no narrative is
required for FY 2018. Director Terhoeve suggested having a high level narrative
for years to come.
Director Terhoeve asked staff about the completion of the parks master plan.
Manager Lothery replied the latest update indicates by the end of the calendar
year. She encouraged everyone to go online at colleyville.com to complete the
survey.
Director Nakamura asked staff how many surveys have been completed. Manager
Lothery replied 900.
Director Terhoeve asked staff if funding could be placed in the upcoming years for
the parks master plan. Manager Lothery replied the parks master plan process is
for the consulting work and not necessarily the implementation of the plan itself or
individual projects. City Manager Jerry Ducay added there are not a lot of details
until after the master plan is completed, but the plan is a large endeavor.
Vice President Newton opened the public hearing at 5:47 p.m.
There was no one present wishing to speak and Vice President Newton closed the
public hearing at 5:47 p.m.
Director Slosson made a motion to approve Resolution R-17-143. Director
Dodson seconded the motion.
The motion carried by the following vote:
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Development Corporation Minutes August 24, 2017
City of Colleyville Page 4
Aye: 7 – Vice President Richard Newton, Directors George Dodson, Amy
Dowell, Bobby Lindamood, Tammy Nakamura, John Terhoeve, and Mark
Slosson
3b Resolution R-17-144
Adopting the Fiscal Year 2018 Budget
Vice President Newton read Resolution R-17-144 in its entirety.
Strategic Services Manager Adrienne Lothery presented this item and answered
questions of the Board.
Vice President Newton opened the public hearing at 5:50 p.m.
Mike Taylor, 5209 Coventry Place, stated there is no expiration on the CEDC,
unlike the CCCPD.
There were no others present wishing to speak and Vice President Newton closed
the public hearing at 5:51 p.m.
Director Lindamood made a motion to approve Resolution R-17-144.
Director Slosson seconded the motion.
The motion carried by the following vote:
Aye: 7 – Vice President Richard Newton, Directors George Dodson, Amy
Dowell, Bobby Lindamood, Tammy Nakamura, John Terhoeve, and Mark
Slosson
3c Resolution R-17-145
Electing a Colleyville Economic Development Corporation Board President
and Vice President
Vice President Newton read Resolution R-17-145 in its entirety.
Director Lindamood suggested Director Dodson for President and Director Newton
to continue to serve as Vice President.
Vice President Newton opened the public hearing at 5:50 p.m.
There was no one present wishing to speak and Vice President Newton closed the
public hearing at 5:51 p.m.
Director Lindamood made a motion to approve Resolution R-17-145,
appointing Director Dodson as President, and Director Newton as Vice
President. Director Slosson seconded the motion.
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Development Corporation Minutes August 24, 2017
City of Colleyville Page 5
The motion carried by the following vote:
Aye: 7 – Vice President Richard Newton, Directors George Dodson, Amy
Dowell, Bobby Lindamood, Tammy Nakamura, John Terhoeve, and Mark
Slosson
4. REPORTS
Annual Activity Report
Annual investment report
There was no discussion of this item.
5. CITIZEN COMMENTS/PRESENTATIONS REGARDING ITEMS NOT ON
THE AGENDA
There was no one present wishing to speak.
6. ADJOURNMENT
There being no further business before the Board, Vice President Newton
adjourned the meeting at 5:56 p.m. All approved by acclamation.
APPROVED BY A VOTE OF 6 AYES, 0 NAYS, AND 0 ABSTENTIONS ON THIS THE
28TH DAY OF AUGUST 2018
Minutes taken and prepared by:
Amy Shelley, TRMC
City Secretary