HomeMy WebLinkAboutColleyville Economic Development Corporation (CEDC)-Minutes-8/10/2010,~~~â~ ,
City of Colleyville 100 Main Street
f 'a ^~ ~~, Colleyville, Texas 76034
~'-~~~~~ ~ 817.503.1000
~~ Agenda
,,,tâ~ www.colleyvi Ile.com
Colleyville Economic Development
Corporation Board
Tuesday, August 10, 2010 7:00 PM Executive Conference Room, Third Floor
1. CALL TO ORDER
2. PRESENTATION AND DISCUSSION
2a Colleyville Economic Development Corporation (CEDC) Fiscal Year
2010 (FY 2010) budget update
2b Discussion of the FY 2011 - 2015 Economic Development Capital
Improvement Program (EDCIP) priorities
3. ADJOURNMENT
I hereby certify the above agenda was posted on the bulletin boards at City Hall on Friday,
August 6, 2010, by 5:00
Cynthia Singleton, TRMC, CMC
City Secretary
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
817.503.1133, and reasonable accommodations will be made to assist you.
City of Colleyville Page 1 Printed on 8/6/2010
~`°~" City of Colleyville
~ Minutes
rl'Yi~1+
Economic Development Corporation
Board
City Hall
100 Main Street
Colleyville, Texas 76034
817. 503.1000
www.colleyville.com
Tuesday, August 10, 2010
7:00 PM Executive Conference Room, Third Floor
The Colleyville Economic Development Corporation Board of Directors'
worksession was called to order by President David Kelly on August 10,
2010, at 7:24 p.m.
2.
2a
2b
Colleyville Economic Development Corporation (CEDC) Fiscal Year
2010 (FY 2010) budget update
Finance Manager Terry Leake provided an update of the Economic
Development Corporation Fiscal Year 2010 budget, stated in anticipation
of revenue deficit, a $10,000 transfer to the Arts Fund was eliminated
and construction of the Senior Center open area elements delayed,
reviewed the status of current projects and answered questions of the
Board.
Discussion ensued regarding the construction of the quad gates at the
Webb House Crossing trail, potential grant funding and the delay of the
Senior Center open area project.
Discussion of the FY 2011 - 2015 Economic Development Capital
Improvement Program (EDCIP) priorities
Finance Manager Terry Leake reviewed the Economic Development
Capital Improvement Program priorities and answered questions of the
Board.
Ms. Leake stated there is a reduction of the projection of sales tax
growth from 2% to 1 % annually throughout the next five years, a
ROLL CALL: Directors Carol Wollin, Stan Hall, Sue Kijowski, Greg
Appel, Carel Tornes and Vice President Tom Hart were present.
President David Kelly, General Manager Jennifer Fadden, Finance
Manager Terry Leake, Economic Development Director Marty
Wieder, Community Development Director Ron Ruthven, Public
Works Director Steve Chutchian, Marketing Coordinator Ashley
Stathatos, Communications and Marketing Director Mona Gandy,
Parks and Recreation Director Monica Walsh, Library Director Mary
Rodne and Secretary Cynthia Singleton were also present.
PRESENTATION AND DISCUSSION
City of Colleyville Page 1 Printed on 9/1/2010
Economic Development Minutes August 10, 2010
Corporation Board
reduction of projected interest income, due to projected investment
return rates, is continuing to remain at record low levels and outlined the
expenditures of the EDCIP projects.
Ms. Leake provided information regarding the status of the Senior Center
Open Area, Phase I project.
There was general discussion regarding the timeline and cost of
developing the City trails.
General Manager Jennifer Fadden stated the primary reason the Senior
Center Open Area project was not executed this year is due to a
decrease in sales tax revenue.
Economic Development Director Marty Wieder provided an overview of
the promotional budget, the structure of City special events and outlined
the proposed Special Events Policy.
Discussion ensued regarding the parameters allowed by law of the
percentage of the CEDC budget allocated to promotional items and
maximizing the use of the funds.
It was determined an opinion would be obtained from the City Attorney
regarding the interpretation of the law related to the use of CEDC funds
for promotional items.
Discussion continued regarding partnerships with local businesses for
the development and sponsorship of special events and using social
media for the promotion of City events.
General Manager Jennifer Fadden stated there are additional
promotional and advertising dollars in the General Fund Economic
Development budget.
Finance Manager Terry Leake stated the CEDC Board will meet August
24, 2010, for consideration of adopting the budget and EDCIP Plan.
Ms. Leake reported the costs for developing the Senior Center arbor and
outdoor area is $65,000.
President Kelly requested staff determine the feasibility of funding the
construction of the arbor and outdoor area at the Senior Center.
General Manager Jennifer Fadden stated funds may be available in the
Park Land Dedication fund.
City of Colleyville Page 2 Printed on 9/1/2010
Economic Development Minutes August 10, 2010
Corporation Board
3. ADJOURNMENT
There being no further business before the CEDC Board, President Kelly
adjourned the worksession at 8:06 p.m.
APPROVED BY A VOTE OF AYES,
ABSTENTIONS ON THIS THE DAY OF
Minutes to en and ared by:
Cynthia Singleton, TRMC, C C
City Secretary
NAYS AND ~
2010.
City of Colleyville Page 3 Printed on 9/1/2010