HomeMy WebLinkAboutColleyville Economic Development Corporation (CEDC)-Agenda Packets-08/14/2018City of Colleyville Page 1
City of Colleyville
Colleyville Economic
Development Corporation
Board Worksession
Agenda
City Hall
100 Main Street
Colleyville, Texas 76034
817. 503.1000
www.colleyville.com
Tuesday, August 14, 2018
6:00 p.m.
Executive Conference Room
Third Floor – City Hall
1. CALL TO ORDER
2.PRESENTATION AND DISCUSSION
2a Discussion of the FY 2019 proposed Colleyville Economic Development
Corporation (CEDC) budget and the FY 2019 2023 Economic
Development Capital Improvement Program (EDCIP) priorities
3.ADJOURNMENT
I hereby certify this agenda was posted on City Hall bulletin boards Friday, August
10, 2018 by 5:00 p.m.
Christine Loven, TRMC
City Secretary
A quorum of any Colleyville board, commission, or committee may be present at this
meeting.
Any matter on this agenda may, at the discretion of the governing body, be opened
for public comment and discussion.
If you plan to attend this public meeting and have a disability that requires special
accommodations, please advise the City Secretary at least 48 hours in advance at
817.503.1130, and reasonable accommodations will be made to assist you.
City of Colleyville Page 1
City of Colleyville
Colleyville Economic
Development Corporation
Board
Worksession Briefing
City Hall
100 Main Street
Colleyville, Texas 76034
www.colleyville.com
Agenda Number 2a Agenda Date 08/14/2018 Number
Type Presentation and Discussion
Department City Manager
Title
Discussion of the FY 2019 proposed Colleyville Economic Development Corporation
(CEDC) budget and the FY 2019 - 2023 Economic Development Capital Improvement
Program (EDCIP) priorities
Strategic Plan
Explanation
The Colleyville Economic Development Corporation (CEDC) is funded by a one-half cent
sales tax approved by voters in 1996. The ballot language states that the sales tax will
"provide for parks and park facilities, a library, a community center, open space
improvements, and other facilities and improvements only as authorized by Section 4B
of Article 5190.6" of the Local Government Code.
The CEDC Bylaws require the CEDC Board to develop a budget and a combined
Economic Development Capital Improvement Program (EDCIP) annually, which sets
forth long and short-term goals. The "EDCIP shall identify the projects to be undertaken
by the Corporation and include proposed methods and the expected cost of the
implementation.” After the annual budget and EDCIP is developed, it must be approved
by the City Council.
This item will provide the Board the opportunity to review and discuss the proposed
projects for FY 2019 through 2023 from the attached annual budget and EDCIP, which is
currently scheduled for adoption by the Board at the CEDC meeting on August 28,
2018. Year one of the EDCIP (FY 2019) will also be brought forward for appropriation
and budget adoption at that meeting.
Attachments
1.EDCIP FY 2019 - 2023
COLLEYVILLE ECONOMIC DEVELOPMENT CORPORATION Exhibit A
ECONOMIC DEVELOPMENT CAPITAL IMPROVEMENT PROGRAM FY 2019 - FY 2023
Budget YE Proj.Proposed Projection Projection Projection Projection
FISCAL YEAR 2018 2018 2019 2020 2021 2022 2023
BEGINNING FUND BALANCE $4,105,189 $4,221,531 $3,752,384 $2,923,192 $2,499,818 $2,116,216 $1,727,952
REVENUES:
PROJECTED 1/2 CENT SALES TAX REVENUE $1,850,000 $1,870,000 $1,907,400 $1,926,474 $1,945,739 $1,965,196 $1,984,848
INTEREST INCOME $9,090 $9,181 $9,273 $9,365 $9,459 $9,554 $9,649
TOTAL REVENUE $1,859,090 $1,879,181 $1,916,673 $1,935,839 $1,955,198 $1,974,750 $1,994,497
EXPENDITURES:
ADMINISTRATIVE:$2,000 $2,000 $2,000 $2,000 $2,000 $2,000 $2,000
DEBT SERVICE $594,704 $594,704 $602,176 $604,144 $600,752 $606,928 $602,672
PARKS:
WATER / WASTEWATER- MC PHERSON PARK $5,150 $5,305 $5,464 $5,628 $5,796 $5,970 $6,149
TECHNOLOGY - HARDWARE REPLACEMENT $0 $0 $6,800 $0 $0 $0 $0
LIBRARY:
PERSONNEL $288,713 $288,713 $380,592 $392,010 $403,770 $415,883 $428,360
OPERATIONS $6,456 $6,456 $6,586 $6,717 $6,852 $6,989 $7,128
TECHNOLOGY - SOFTWARE & MAINTENANCE CONTRACTS $19,306 $19,306 $19,692 $20,085 $20,487 $20,897 $21,315
TECHNOLOGY - HARDWARE REPLACEMENT $11,800 $11,800 $5,450 $27,600 $0 $0 $0
SENIOR CENTER:
PERSONNEL $78,230 $78,230 $88,895 $91,562 $94,309 $97,138 $100,052
OPERATIONS $500 $500 $500 $500 $500 $500 $500
TECHNOLOGY - HARDWARE REPLACEMENT $8,000 $8,000 $1,550 $3,100 $0 $0 $0
COLLEYVILLE CENTER:
OPERATIONS $2,000 $2,000 $2,000 $2,000 $2,000 $2,000 $2,000
TECHNOLOGY- SOFTWARE & MAINTENANCE CONTRACTS $6,960 $6,960 $7,099 $7,241 $7,386 $7,534 $7,684
TECHNOLOGY - HARDWARE REPLACEMENT $8,800 $8,800 $1,200 $3,850 $0 $0 $0
PROMOTIONAL:
SPECIAL EVENTS $92,000 $92,000 $112,000 $112,000 $112,000 $112,000 $112,000
ECONOMIC DEVELOPMENT PROMOTIONAL $39,000 $39,000 $25,000 $25,500 $26,010 $26,530 $27,061
PERSONNEL - COMMUNICATIONS $53,035 $53,035 $53,666 $55,276 $56,934 $58,642 $60,402
TOTAL OPERATING EXPENDITURES $1,216,654 $1,216,808 $1,320,669 $1,359,213 $1,338,800 $1,363,015 $1,377,327
EXCESS REVENUES OVER EXPENDITURES $642,436 $662,373 $596,003 $576,626 $616,398 $611,735 $617,171
CAPITAL:
COLLEYVILLE CENTER -
FACILITY UPDATES AND REPLACEMENTS $0 $33,000 $64,679 $0 $0 $0 $0
REPLACEMENT OF PALLADIUM WINDOWS & PATIO $0 $0 $280,000 $0 $0 $0 $0
PLEASANT RUN TRAIL CONSTRUCTION & PARK IMPROVEMENTS $300,000 $300,000 $0 $0 $0 $0 $0
PARKS MASTER PLAN UPDATE $45,000 $45,000 $0 $0 $0 $0 $0
LD LOCKETT PARK DRAINAGE IMPROVEMENTS $130,000 $55,000 $0 $0 $0 $0 $0
KIMZEY PARK POND DREDGING $170,000 $388,520 $0 $0 $0 $0 $0
WEBB HOUSE REPAIRS $100,000 $10,000 $265,000 $0 $0 $0 $0
LIBRARY RENOVATIONS $459,470 $300,000 $315,516 $0 $0 $0 $0
FUTURE PROJECTS / IMPLEMENTATION OF PARKS MASTER PLAN $300,000 $0 $500,000 $1,000,000 $1,000,000 $1,000,000 $800,000
TOTAL CAPITAL EXPENDITURES $1,504,470 $1,131,520 $1,425,195 $1,000,000 $1,000,000 $1,000,000 $800,000
TOTAL EXPENDITURES (OPERATING & CAPITAL)$2,721,124 $2,348,328 $2,745,864 $2,359,213 $2,338,800 $2,363,015 $2,177,327
USE OF FUND BALANCE ON CAPITAL PROJECTS/(ADDITIONS TO FUND BALANCE)$862,034 $469,147 $829,192 $423,374 $383,602 $388,265 $182,829
ENDING FUND BALANCE $3,243,155 $3,752,384 $2,923,192 $2,499,818 $2,116,216 $1,727,952 $1,545,122
RESERVE FOR .4 TIMES BOND COVERAGE RATIO $237,882 $237,882 $240,870.40 $241,658 $240,301 $242,771 $241,069
AVAILABLE ENDING FUND BALANCE $3,005,274 $3,514,502 $2,682,322 $2,258,160 $1,875,916 $1,485,180 $1,304,054