HomeMy WebLinkAboutColleyville Economic Development Corporation (CEDC)-Minutes-9/1/2011~"'°-'~ City of Colleyville
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~~'~ ~ Minutes
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Economic Development Corporation
Board
City Hall
100 Main Street
Colleyville, Texas 76034
817. 503.1000
www.colleyville.com
Tuesday, August 24, 2010
6:30 PM
City Council Chambers
The Colleyville Economic Development Corporation Board of Director's
meeting was called to order by President David Kelly on August 24,
2010, at 6:31 p.m.
ROLL CALL: Directors Carol Wollin, Stan Hall, Sue Kijowski, 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, Parks and
Recreation Director Monica Walsh, Library Director Mary Rodne and
Secretary Cynthia Singleton were also present.
Director Greg Appel arrived at 6:58 p.m.
2.
2a
2b
2c
CONSENT: READING AND PUBLIC HEARING - Resolution R-10-109
Approval of the minutes of the Colleyville Economic Development
Corporation Board of Directors' meeting of January 12, 2010
Approval of the minutes of the Colleyville Economic Development
Corporation Board worksession of August 10, 2010
Approval of the annual review of the Colleyville Economic Development
Corporation's Investment Policy
President Kelly read Resolution R-10-109 in its entirety.
President Kelly opened the public hearing.
There was no one present wishing to speak concerning this item and
President Kelly closed the public hearing.
Director Wollin moved to approve Resolution R-10-109, with the
amendment to the August 10, 2010 CEDC minutes, page 2, as follows:
Finance Manager Terry Leake stated the CEDC Board will meet August
24, 2010, for consideration of adopting the budget and EDCIP Plan.
Director Hall seconded the motion.
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The motion carried by the following vote:
Aye: 6- Carol Wollin, Carel Tornes, Tom Hart, Stan Hall, David
Kelly, Sue Kijowski
Absent: 1 - Greg Appel
3. RESOLUTION(S):
READING AND PUBLIC HEARING
3a R-10-110 Adopting the Economic Development Capital Improvement Program
(EDCIP) for FY 2011-2015
President Kelly read Resolution R-10-110 in its entirety.
President Kelly opened the public hearing.
There was no one present wishing to speak concerning this item and
President Kelly closed the public hearing.
Finance Manager Terry Leake stated the CEDC bylaws require the
Board to develop a combined Economic Development Capital
Improvement Program (EDCIP) annually, which sets forth long and
short-term goals. Ms. Leake outlined the changes in the Fiscal Year
2011 to 2015 EDCIP from the prior year EDCIP, which covered the
period of Fiscal Year 2010 to Fiscal Year 2014 and answered questions
of the Board.
Ms. Leake also stated the revenue estimate is one-half of the sales tax
revenue estimated in the City's proposed FY 2011 budget. Fiscal Years
2012-2015 include a 1% increase in sales tax. The use of available
cash during FY 2011 - 2015 brings the fund balance down to $861,412
in Fiscal Year 2015.
Economic Development Director Marty Wieder provided information
regarding the appropriate funding for promotional expenditures and
answered questions of the Board.
Discussion ensued regarding the guidelines and budget for promotional
expenditures.
General Manager Jennifer Fadden stated if the Board would like to
identify different expenditures for purely promotional advertising
marketing dollars to be allocated in the CEDC budget, rather than
funding events and special events for the community, staff could
certainly try to shift those funds to the General Fund. There is not an
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Corporation Board
equal amount of funding in the General Fund to offset that amount. We
could move all of the other marketing and advertising dollars allocated in
the Economic Development budget in the General Fund to the CEDC
promotional budget, but it is significantly less than the $69,000 proposed
for special events.
Ms. Fadden further stated other funds in CEDC, beyond promotional
expenses, are not an appropriate use for speciat events. I do not
believe, based on the ballot language that approved the formation of the
Colleyville Economic Development Corporation, as well as the state
statute that establishes Economic Development Corporations in Texas,
would allow the City to use any other funds beyond the 10% promotional
cap for special event purposes.
President Kelly moved to approve Resolution R-10-110.
Vice President Hart seconded the motion.
The motion carried by the following vote:
Aye: 6- Carol Wollin, Carel Tornes, Tom Hart, Stan Hall, David
Kelly, Sue Kijowski
Absent: 1 - Greg Appel
3b R-10-111 Adopting the Fiscal Year 2011 (FY 2011) Budget
President Kelly read Resolution R-10-111 in its entirety.
President Kelly opened the public hearing.
There was no one present wishing to speak concerning this item and
President Kelly closed the public hearing.
Finance Manager Terry Leake reviewed the revenues and expenditures
in the Colleyville Economic Development Corporation (CEDC) Fiscal
Year 2011 budget.
Discussion ensued regarding funding sources for the Colleyville Center
renovation project and the Colleyville Tomorrow Fund balance.
Parks and Recreation Director Monica Walsh provided information
regarding the McPherson Park Splash Pad water usage.
Director Wolfin spoke regarding the timeline for completion of the
second floor expansion of the Colleyville Public Library.
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President Kelly moved to approve Resolution R-10-111.
Director Wollin seconded the motion.
The motion carried by the following vote:
Aye: 7- Carol Wollin, Greg Appel, Carel Tornes, Tom Hart, Stan
Hall, David Kelly, Sue Kijowski
3c R-10-112 Appointing a Colleyville Economic Development Corporation (CEDC)
Board President and Vice President
President Kelly read Resolution R-10-112 in its entirety.
President Kelly opened the public hearing.
There was no one present wishing to speak concerning this item and
President Kelly closed the public hearing.
Vice President Hart moved to approve Resolution R-10-112, appointing
Director Kelly as President and Director Wollin as Vice President.
Director Hall seconded the motion
The motion carried by the following vote:
Aye: 7- Carol Wollin, Greg Appel, Carel Tornes, Tom Hart, Stan
Hall, David Kelly, Sue Kijowski
President Kelly expressed appreciation to Director Hart for excellent
service as Vice President of the CEDC.
President Kelly congratulated Director Wollin on the appointment as Vice
President of the CEDC.
4. REPORT(S):
4a Annual Activity Report
There was no discussion of this item.
4b Annual Investment Report
There was no discussion of this item.
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5. ADJOURNMENT
There being no further business, President Kelly adjourned the meeting
at 7:02 p.m.
APPROVED BY A VOTE OF 7" AYES,
ABSTENTIONS ON THIS THE ~2~DAY OF
Minutes en and t-~~aTe y:
~
nthia Singleton, TRMC, CM
City Secretary
O NAY AND C'~
2011.
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