HomeMy WebLinkAboutColleyville Economic Development Corporation (CEDC)-Agenda Packets-08/27/2019
City of Colleyville
Colleyville Economic
Development
Corporation Board
Agenda
City Hall
100 Main Street
Colleyville, Texas 76034
817.503.1000
www.colleyville.com
Tuesday, August 27, 2019
5:00 p.m.
City Council Chambers
Third Floor, City Hall
1. CALL TO ORDER
2. CONSENT: READING AND PUBLIC HEARING- RESOLUTION R-19-150
2a Approval of the minutes of the Colleyville Economic Development
Corporation Board of Directors meeting of August 28, 2019
2b Approval of the minutes of the Colleyville Economic Development
Corporation Board of Directors Worksession of August 13, 2019
3. RESOLUTION(S): READING AND PUBLIC HEARING
3a Resolution R-19-151
Adopting the Economic Development Capital Improvement Program
(EDCIP) for the Fiscal Years 2020-2024 of the Colleyville Economic
Development Corporation
3b Resolution R-19-152
Adopting the Fiscal Year 2020 Budget
3c Resolution R-19-153
Electing a Colleyville Economic Development Corporation Board President
and Vice President
4. REPORTS
Annual Activity Report
Annual investment report
5. CITIZEN COMMENTS/PRESENTATIONS REGARDING ITEMS NOT ON
THE AGENDA
6. ADJOURNMENT
I hereby certify this agenda was posted on City Hall bulletin boards Friday, August
23, 2018 by 5:00 p.m.
Christine Loven, TRMC
City Secretary
A quorum of the Colleyville City Council and/or any other Colleyville Board,
Commission, or Committee may be in attendance 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.
RESOLUTION R-19-150
A RESOLUTION APPROVING ACTION UNDER CONSENT ITEMS AT
THE COLLEYVILLE ECONOMIC DEVELOPMENT CORPORATION
BOARD MEETING OF AUGUST 27, 2019
WHEREAS,the Board has taken action on certain items on the agenda
under Consent items.
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS
OF THE COLLEYVILLE ECONOMIC DEVELOPMENT CORPORATION:
Sec. 1.THAT the agenda decisions approved by Colleyville Economic
Development Corporation Board action under Consent items as
follows are hereby adopted:
a.Approval of the minutes of the Colleyville Economic
Development Corporation Board of Directors meeting of
August 28, 2018
b.Approval of the minutes of the Colleyville Economic
Development Corporation Board of Directors Worksession
of August 13, 2019
AND IT IS SO RESOLVED.
APPROVED BY A VOTE OF _ AYES, _ NAYS, AND _ ABSTENTIONS ON THIS
27TH DAY OF AUGUST 2019.
President George Dodson Director Tammy Nakamura
Vice Pres. Richard Newton Director John Terhoeve
Director Ralph Hunkins Director Mark Slosson
Director Bobby Lindamood
ATTEST:COLLEYVILLE ECONOMIC
DEVELOPMENT CORPORATION
Christine Loven, TRMC George Dodson
Secretary President
City of Colleyville Page 1
City of Colleyville
Colleyville Economic
Development
Corporation Board
Minutes - Draft
City Hall
100 Main Street
Colleyville, Texas 76034
817. 503.1000
www.colleyville.com
Tuesday, August 28, 2018 6:00 p.m.
President Dodson called the Colleyville Economic Development Corporation Board
meeting to order on August 28, 2018, at 6:02 p.m.
ROLL CALL: President George Dodson, Vice President Richard Newton, Directors
Ralph Hunkins, Bobby Lindamood, Tammy Nakamura, and John Terhoeve
Absent: Director Mark Slosson
Also Present: General Manager Jerry Ducay, Finance Manager Shereen Gendy,
Assistant City Managers Adrienne Lothery and Mark Wood, City Secretary Christine
Loven
2.CONSENT: READING AND PUBLIC HEARING- RESOLUTION R-18-146
2a Approval of the minutes of the Colleyville Economic Development
Corporation Board of Directors meeting of August 24, 2017
2b Approval of the minutes of the Colleyville Economic Development
Corporation Board of Directors Worksession of August 14, 2018
2c Approval of the annual Investment Policy approved by City Council on
July 17, 2018
President Dodson read Resolution R-18-146 in its entirety.
Finance Manager Shereen Gendy presented the investment policy, noting the
review was brought to the Audit Committee and City Council for discussion and
direction earlier this year and was adopted by City Council in July.
Manager Gendy noted the primary change in the policy is to allow investment in
commercial paper which allows for a diversification of the City’s portfolio. Manager
Gendy went on to review the portfolio.
President Dodson stated he understands these investments allow almost instant
access to the money in pools. Manager Gendy confirmed and City Manager Jerry
Ducay noted this is the same policy the City adopted.
President Dodson noted two corrections to the August 14, 2018 worksession
minutes.
City of Colleyville Page 2
Colleyville Economic
Development Corporation Minutes - DRAFT August 28, 2018
President Dodson opened the public hearing at 6:12 p.m. There was no one
present wishing to speak and President Dodson closed the public hearing at 6:12
p.m.
Vice President Richard Newton made a motion to approve Resolution R-
18-146, amending the August 14, 2018 Colleyville Economic Development
Corporation Board of Directors Worksession minutes as stated by
President Dodson. Director Nakamura seconded the motion.
The motion carried by the following vote:
Aye: 6 – President George Dodson, Vice President Richard Newton,
Directors Ralph Hunkins, Bobby Lindamood, Tammy Nakamura, and John
Terhoeve
Absent: 1 – Director Slosson
3.RESOLUTION(S): READING AND PUBLIC HEARING
3a Resolution R-18-147
Adopting the Economic Development Capital Improvement Program
(EDCIP) for the Fiscal Years 2019-2023 of the Colleyville Economic
Development Corporation
President Dodson read Resolution R-18-147 in its entirety.
Assistant City Manager Adrienne Lothery presented this item verbally, and
highlighted several projects planned for each year.
City Manager Jerry Ducay noted the sale tax projection is budgeted at a
conservative one-percent.
President Dodson opened the public hearing at 6:21 p.m. There was no one
present wishing to speak and President Dodson closed the public hearing at 6:21
p.m.
President George Dodson made a motion to approve Resolution R-18-147,
Director Lindamood seconded the motion.
The motion carried by the following vote:
City of Colleyville Page 3
Colleyville Economic
Development Corporation Minutes - DRAFT August 28, 2018
Aye: 6 – President George Dodson, Vice President Richard Newton,
Directors Ralph Hunkins, Bobby Lindamood, Tammy Nakamura, and John
Terhoeve
Absent: 1 – Director Slosson
3b Resolution R-18-148
Adopting the Fiscal Year 2019 Budget
President Dodson read Resolution R-18-148 in its entirety.
There were no questions or discussion of this item.
City Manager Jerry Ducay noted the sale tax projection is budgeted at a
conservative two-percent and stated this is a very good budget.
President Dodson opened the public hearing at 6:25 p.m. There was no one
present wishing to speak and President Dodson closed the public hearing at 6:25
p.m.
Director Tammy Nakamura made a motion to approve Resolution R-18-
148, Vice President Newton seconded the motion.
The motion carried by the following vote:
Aye: 6 – President George Dodson, Vice President Richard Newton,
Directors Ralph Hunkins, Bobby Lindamood, Tammy Nakamura, and John
Terhoeve
Absent: 1 – Director Slosson
3c Resolution R-18-149
Electing a Colleyville Economic Development Corporation Board
President and Vice President
President Dodson read Resolution R-18-149 in its entirety.
President Dodson opened the public hearing at 6:27 p.m. There was no one
present wishing to speak and President Dodson closed the public hearing at 6:27
p.m.
Director Tammy Nakamura made a motion to approve Resolution R-18-
149 electing George Dodson President, Richard Newton Vice President,
and Director John Terhoeve seconded the motion.
City of Colleyville Page 4
Colleyville Economic
Development Corporation Minutes - DRAFT August 28, 2018
The motion carried by the following vote:
Aye: 6 – President George Dodson, Vice President Richard Newton,
Directors Ralph Hunkins, Bobby Lindamood, Tammy Nakamura, and John
Terhoeve
Absent: 1 – Director Slosson
4.REPORTS
Annual Activity Report
Assistant City Manager Adrienne Lothery provided a verbal overview of the annual
activity report, noting the City saved $75,000 on the drainage improvements to L.
D. Lockett Park by utilizing City staff and the dredging at Kimsey Park is ahead of
schedule. She also highlighted the Webb House and Library improvements.
Annual Investment Report
President Dodson provided the summary of the annual investment report. Finance
Manager Shereen Gendy stated the date of the report reflects one month of
activity under the new investment policy.
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, President Dodson adjourned the
meeting without objection at 6:38 p.m. All approved by acclamation.
APPROVED BY A VOTE OF _ AYES, _ NAYS, AND _ ABSTENTIONS ON THIS THE
27TH DAY OF AUGUST 2019.
Minutes taken and prepared by:
Christine Loven, TRMC
City Secretary
City of Colleyville Page 1
Colleyville Economic
Development Corporation
Board Worksession Minutes
City Hall
100 Main Street
Colleyville, Texas 76034
817. 503.1000
www.colleyville.com
Tuesday, August 13, 2019 5:30 p.m.
President George Dodson called the Colleyville Economic Development Corporation
Board Worksession to order on August 13, 2019, at 5:30 p.m.
ROLL CALL: President George Dodson, Vice President Richard Newton, and
Directors Ralph Hunkins, Bobby Lindamood, John Terhoeve, Mark Slosson, and
Kathy Wheat
Also Present: General Manager Jerry Ducay, Assistant City Manager Mark Wood,
Assistant City Manager Adrienne Lothery, Secretary Christine Loven, and City staff
Library and Recreation Director Mary Rodne, Parks and Recreation Director Lisa
Escobedo, Colleyville Center Manager Leslie Hill and Councilmember Callie Rigney
2.PRESENTATION AND DISCUSSION
2a Discussion of the FY 2020 proposed Colleyville Economic Development
Corporation (CEDC) budget and the FY 2020 - 2024 Economic
Development Capital Improvement Program (EDCIP) priorities
Assistant City Manager Mark Wood presented this item, highlighting 2019
operations and capital expenditures and projects which included: 13 part-time
librarians, one full-time library coordinator, one full time recreation specialist, a
portion of community relations specialist, technology (desktops, laptops, battery
backups, network switch), special events, library renovation, Colleyville Center
projects, Webb House rehab, and City Park improvements.
Manager Wood stated the 2020 budget will provide for continued operations,
special events, roof replacement at Colleyville Center, McPherson Park landscape
improvements, sidewalk and trail construction, and City Park restroom
renovations.
There was general brief discussion regarding the age of the roof at Colleyville
Center, and the restroom renovations.
Manager Wood gave an overall review of the budget line items, noting projects
planned throughout EDCIP. He noted the sales tax projection was not increased
from the 2019 projection, but there will be an update as SH26 construction wraps
up, for now, the plan is to remain conservative.
Vice President Newton stated there is an increase in investment revenue due to
the investment strategy which was approved last year and noted some of the
projects are placeholders for funding. Vice President Newton stated the Pedestrian
City of Colleyville Page 2
Colleyville Economic
Development Corporation Minutes - DRAFT August 13, 2019
Transportation Ad Hoc Committee has been appointed and will be looking at
connectivity and prioritization of sidewalks and trails. He stated some of the
funding will be based on the Committee’s report.
Director Hunkins asked if there is a fund balance goal. Vice President Newton
stated there are no fund balance legal requirements, which allows budgeting based
on need.
President Dodson stated the City is paying off debt, continuing cash purchasing,
and providing for a strong future cash plan. He said this is the second year of
being able to have an effective tax rate and he, and City Council, is very proud of
the accomplishment.
3.ADJOURNMENT
There being no further business to discuss, President Dodson adjourned the
worksession without objection at 6:05 p.m.
APPROVED BY A VOTE OF _ AYES, _ NAYS, AND _ ABSTENTIONS ON THIS THE
27TH DAY OF AUGUST 2019.
Minutes taken and prepared by:
Christine Loven, TRMC
City Secretary
City of Colleyville Page 1
City of Colleyville
Colleyville Economic
Development Corporation
Board
Agenda Briefing
City Hall
100 Main Street
Colleyville, Texas 76034
www.colleyville.com
Agenda Number 3a Agenda Date 8/27/2019 Number Resolution R-19-151
Type Resolution
Department City Manager
Title
Adopting the Economic Development Capital Improvement Program (EDCIP) for the
Fiscal Years 2020-2024 of the Colleyville Economic Development Corporation
Explanation
Reading and Public Hearing
The Colleyville Economic Development Corporation Bylaws require the Board to
develop a combined Economic Development Capital Improvement Program (EDCIP)
annually, which sets forth long and short-term goals. This program "shall be one that
addresses the development needs of the City within the financial constraints available
to the Corporation.” 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 EDCIP is developed, it must be approved by the City
Council.
On August 13, 2019, the Board met in a worksession and reviewed and discussed the
proposed projects included in the FY 2020-2024 EDCIP. No changes were
recommended. Attached resolution approves the FY 2020-2024 EDCIP as presented
on August 13, 2019.
Attachments
1.EDCIP FY 2020-2024
2.RESOLUTION R-19-151
COLLEYVILLE ECONOMIC DEVELOPMENT CORPORATION Exhibit A
ECONOMIC DEVELOPMENT CAPITAL IMPROVEMENT PROGRAM FY 2020 - FY 2024
Budget Projected Projection Projection Projection Projection Projection
FISCAL YEAR 2019 2019 2020 2021 2022 2023 2024
BEGINNING FUND BALANCE $3,752,384 $3,752,384 $3,010,102 $2,233,154 $1,257,472 $1,066,037 $887,405
REVENUES:
PROJECTED 1/2 CENT SALES TAX REVENUE $1,907,400 $1,907,400 $1,907,400 $1,926,474 $1,945,739 $1,965,196 $1,984,848
INTEREST INCOME $9,273 $26,721 $25,000 $25,250 $25,503 $25,758 $26,015
TOTAL REVENUE $1,916,673 $1,934,121 $1,932,400 $1,951,724 $1,971,241 $1,990,954 $2,010,863
EXPENDITURES:
ADMINISTRATIVE:$2,000 $2,000 $2,000 $2,000 $2,000 $2,000 $2,000
DEBT SERVICE $602,176 $602,176 $604,144 $600,752 $606,928 $602,672 $598,128
PARKS:
WATER / WASTEWATER- MC PHERSON PARK $5,464 $5,464 $5,628 $5,796 $5,970 $6,149 $6,334
TECHNOLOGY - HARDWARE REPLACEMENT $6,800 $10,000 $0 $750 $0 $10,000 $0
MAINTENANCE $0 $0 $50,000 $50,000 $50,000 $50,000 $50,000
LIBRARY:
PERSONNEL $380,592 $380,592 $392,999 $406,754 $420,990 $435,725 $450,975
OPERATIONS $6,586 $6,586 $16,717 $17,052 $17,393 $17,741 $18,095
TECHNOLOGY - SOFTWARE & MAINTENANCE CONTRACTS $19,692 $19,692 $20,085 $20,487 $20,897 $21,315 $21,741
TECHNOLOGY - HARDWARE REPLACEMENT $5,450 $5,450 $27,600 $16,400 $11,400 $5,450 $20,400
SENIOR CENTER:
PERSONNEL $88,895 $88,895 $92,626 $95,868 $99,224 $102,696 $106,291
OPERATIONS $500 $500 $500 $500 $500 $500 $500
TECHNOLOGY - HARDWARE REPLACEMENT $1,550 $1,550 $3,100 $2,800 $11,600 $2,350 $3,100
COLLEYVILLE CENTER:
OPERATIONS $2,000 $2,000 $2,000 $2,000 $2,000 $2,000 $2,000
TECHNOLOGY- SOFTWARE & MAINTENANCE CONTRACTS $7,099 $7,099 $7,241 $7,386 $7,534 $7,684 $7,838
TECHNOLOGY - HARDWARE REPLACEMENT $1,200 $1,200 $3,850 $2,000 $6,800 $1,200 $3,050
PROMOTIONAL:
SPECIAL EVENTS $112,000 $112,000 $112,000 $112,000 $112,000 $112,000 $112,000
ECONOMIC DEVELOPMENT PROMOTIONAL $25,000 $25,000 $25,500 $26,010 $26,530 $27,061 $27,602
PERSONNEL - COMMUNICATIONS $53,666 $53,666 $56,858 $58,848 $60,907 $63,039 $65,246
TOTAL OPERATING EXPENDITURES $1,320,669 $1,323,869 $1,422,848 $1,427,406 $1,462,676 $1,469,585 $1,495,303
EXCESS REVENUES OVER EXPENDITURES $596,003 $610,252 $509,552 $524,318 $508,565 $521,368 $515,560
CAPITAL:
COLLEYVILLE CENTER -
FACILITY UPDATES AND REPLACEMENTS $64,679 $64,679 $56,500 $0 $0 $0 $0
ROOF REPLACEMENT $0 $0 $300,000 $0 $0 $0 $0
OUTDOOR FURNITURE $0 $0 $10,000 $0 $0 $0 $0
REPLACEMENT OF PALLADIUM WINDOWS & PATIO $280,000 $347,069 $0 $0 $0 $0 $0
PLEASANT RUN TRAIL CONSTRUCTION & PARK IMPROVEMENTS $0 $0 $0 $0 $0 $0 $0
LANDSCAPE IMPROVEMENTS AT MCPHERSON PARK $0 $0 $20,000 $0 $0 $0 $0
SIDEWALK/TRAIL CONSTRUCTION/GRANT MATCH $0 $0 $300,000 $300,000 $300,000 $300,000 $300,000
CITY PARK RESTROOMS $0 $0 $400,000 $0 $0 $0 $0
PARKS HOUSE DEMO & NEW AMENITY $0 $0 $0 $1,000,000 $0 $0 $0
WEBB HOUSE REPAIRS $265,000 $265,000 $0 $0 $0 $0 $0
LIBRARY RENOVATIONS $315,516 $315,516 $0 $0 $0 $0 $0
FUTURE PROJECTS / IMPLEMENTATION OF PARKS MASTER PLAN $500,000 $200,000 $200,000 $200,000 $400,000 $400,000 $400,000
CITY PARK BASEBALL FIELD REHAB 4/5/6 $0 $33,000 $0 $0 $0 $0 $0
CITY PARK BASEBALL FIELD EQUIPMENT BOXES $0 $15,000 $0 $0 $0 $0 $0
LIGHTNING DETECTOR SYSTEM $0 $30,219 $0 $0 $0 $0 $0
CITY PARK BASEBALL SCOREBOARDS $0 $82,050 $0 $0 $0 $0 $0
TOTAL CAPITAL EXPENDITURES $1,425,195 $1,352,533 $1,286,500 $1,500,000 $700,000 $700,000 $700,000
TOTAL EXPENDITURES (OPERATING & CAPITAL) $2,745,864 $2,676,402 $2,709,348 $2,927,406 $2,162,676 $2,169,585 $2,195,303
USE OF FUND BALANCE ON CAPITAL PROJECTS/(ADDITIONS TO FUND BALANCE) $829,192 $742,281 $776,948 $975,682 $191,435 $178,632 $184,440
ENDING FUND BALANCE $2,923,192 $3,010,102 $2,233,154 $1,257,472 $1,066,037 $887,405 $702,966
RESERVE FOR .4 TIMES BOND COVERAGE RATIO $240,870.40 $240,870.40 $241,657.60 $240,300.80 $242,771.20 $241,068.80 $239,251.20
AVAILABLE ENDING FUND BALANCE $2,682,322 $2,769,232 $1,991,496 $1,017,171 $823,266 $646,337 $463,714
RESOLUTION R-19-151
A RESOLUTION ADOPTING THE ECONOMIC DEVELOPMENT CAPITAL
IMPROVEMENT PROGRAM (EDCIP) FOR FISCAL YEARS 2020-2024
WHEREAS,the bylaws of the Colleyville Economic Development
Corporation require that an Economic Development Capital
Improvement Program (EDCIP) 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 projects to be undertaken by the
Corporation 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.
APPROVED BY A VOTE OF _ AYES, _ NAYS, AND _ ABSTENTIONS ON THIS
27TH DAY OF AUGUST 2019.
President George Dodson Vice President Richard Newton
Director Tammy Nakamura Director Bobby Lindamood
Director Ralph Hunkins Director John Terhoeve
Director Mark Slosson
ATTEST:COLLEYVILLE ECONOMIC
DEVELOPMENT CORPORATION
Christine Loven, TRMC George Dodson
Secretary President
City of Colleyville Page 1
City of Colleyville
Colleyville Economic
Development Corporation
Board
Agenda Briefing
City Hall
100 Main Street
Colleyville, Texas 76034
www.colleyville.com
Agenda Number 3b Agenda Date 8/27/2019 Number Resolution R-19-152
Type Resolution
Department City Manager
Title
Adopting the Fiscal Year 2020 Budget
Explanation
Reading and Public Hearing
Per the Colleyville Economic Development Corporation (CEDC) bylaws, the Board of
Directors must adopt an annual budget. The attached FY 2020 budget replicates the
FY 2020 revenues and expenditures contained in the proposed FY 2020 - 2024 EDCIP,
which was reviewed at the CEDC budget worksession on August 13, 2019. Proposed
expenditures for FY 2020 total $2,709,348 as reflected in the attached FY 2020 CEDC
Budget.
Attachments
1.CEDC Presentation 8-13-19
2.CEDC Budget FY2020
3.RESOLUTION R-19-152
Colleyville Economic Development
Corporation (CEDC)
August 27, 2019
•Colleyville Economic Development Corporation approved
by voters in 1996
•“The adoption of an additional one-half cent sales and use
tax to provide for parks and parks facilities, a library, a
community center, open space improvements, and other
facilities and improvements only as authorized by Section
4B of Article 5190.6, Vernon’s Texas Civil Statues, as
amended.”
CEDC Overview
FY 2019 Highlights
Operations
•13 part-time librarians, 1 full-time library coordinator
•1 full time recreation specialist
•Portion of community relations specialist
•Technology (desktops, laptops, battery backups, network
switch)
•Special events – focus on growing existing and adding
more
Capital
•Library renovation
•Colleyville Center projects
•Webb House rehab
•City Park improvements
FY2019 Highlights
Special events
FY2019 Highlights
Library renovation
FY2019 Highlights
Colleyville Center project
FY2019 Highlights
Webb House project
FY2019 Highlights
City Park baseball field
improvements
FY2019 Highlights
FY 2020 Projects
•Continued operations (staffing, technology)
•Special events
–Continued focus on enhancing existing and
adding new events
•Colleyville Center roof replacement
•Landscape improvements @ McPherson Park
•Sidewalk/trail construction/grant match
–Pedestrian Transportation Ad Hoc Committee
–Staff aggressively pursuing grants
•City Park restroom renovation
FY2020 Projects
COLLEYVILLE ECONOMIC DEVELOPMENT CORPORATION
ECONOMIC DEVELOPMENT CAPITAL IMPROVEMENT PROGRAM FY 2020 - FY 2024
Budget Projected Projection
FISCAL YEAR 2019 2019 2020
BEGINNING FUND BALANCE $3,752,384 $3,752,384 $3,010,102
REVENUES:
PROJECTED 1/2 CENT SALES TAX REVENUE $1,907,400 $1,907,400 $1,907,400
INTEREST INCOME $9,273 $26,721 $25,000
TOTAL REVENUE $1,916,673 $1,934,121 $1,932,400
EXPENDITURES:
ADMINISTRATIVE:$2,000 $2,000 $2,000
DEBT SERVICE $602,176 $602,176 $604,144
PARKS:
WATER / WASTEWATER- MC PHERSON PARK $5,464 $5,464 $5,628
TECHNOLOGY - HARDWARE REPLACEMENT $6,800 $10,000 $0
MAINTENANCE $0 $0 $50,000
LIBRARY:
PERSONNEL $380,592 $380,592 $392,999
OPERATIONS $6,586 $6,586 $16,717
TECHNOLOGY - SOFTWARE & MAINTENANCE CONTRACTS $19,692 $19,692 $20,085
TECHNOLOGY - HARDWARE REPLACEMENT $5,450 $5,450 $27,600
SENIOR CENTER:
PERSONNEL $88,895 $88,895 $92,626
OPERATIONS $500 $500 $500
TECHNOLOGY - HARDWARE REPLACEMENT $1,550 $1,550 $3,100
COLLEYVILLE CENTER:
OPERATIONS $2,000 $2,000 $2,000
TECHNOLOGY- SOFTWARE & MAINTENANCE CONTRACTS $7,099 $7,099 $7,241
TECHNOLOGY - HARDWARE REPLACEMENT $1,200 $1,200 $3,850
PROMOTIONAL:
SPECIAL EVENTS $112,000 $112,000 $112,000
ECONOMIC DEVELOPMENT PROMOTIONAL $25,000 $25,000 $25,500
PERSONNEL - COMMUNICATIONS $53,666 $53,666 $56,858
TOTAL OPERATING EXPENDITURES $1,320,669 $1,323,869 $1,422,848
EXCESS REVENUES OVER EXPENDITURES $596,003 $610,252 $509,552
CAPITAL:
COLLEYVILLE CENTER -
FACILITY UPDATES AND REPLACEMENTS $64,679 $64,679 $56,500
ROOF REPLACEMENT $0 $0 $300,000
OUTDOOR FURNITURE $0 $0 $10,000
REPLACEMENT OF PALLADIUM WINDOWS & PATIO $280,000 $347,069 $0
PLEASANT RUN TRAIL CONSTRUCTION & PARK IMPROVEMENTS $0 $0 $0
LANDSCAPE IMPROVEMENTS AT MCPHERSON PARK $0 $0 $20,000
SIDEWALK/TRAIL CONSTRUCTION/GRANT MATCH $0 $0 $300,000
CITY PARK RESTROOMS $0 $0 $400,000
PARKS HOUSE DEMO & NEW AMENITY $0 $0 $0
WEBB HOUSE REPAIRS $265,000 $265,000 $0
LIBRARY RENOVATIONS $315,516 $315,516 $0
FUTURE PROJECTS / IMPLEMENTATION OF PARKS MASTER PLAN $500,000 $200,000 $200,000
CITY PARK BASEBALL FIELD REHAB 4/5/6 $0 $33,000 $0
CITY PARK BASEBALL FIELD EQUIPMENT BOXES $0 $15,000 $0
LIGHTNING DETECTOR SYSTEM $0 $30,219 $0
CITY PARK BASEBALL SCOREBOARDS $0 $82,050 $0
TOTAL CAPITAL EXPENDITURES $1,425,195 $1,352,533 $1,286,500
TOTAL EXPENDITURES (OPERATING & CAPITAL) $2,745,864 $2,676,402 $2,709,348
USE OF FUND BALANCE ON CAPITAL PROJECTS/(ADDITIONS TO FUND BALANCE) $829,192 $742,281 $776,948
ENDING FUND BALANCE $2,923,192 $3,010,102 $2,233,154
RESERVE FOR .4 TIMES BOND COVERAGE RATIO $240,870.40 $240,870.40 $241,657.60
AVAILABLE ENDING FUND BALANCE $2,682,322 $2,769,232 $1,991,496
RESOLUTION R-19-152
A RESOLUTION ADOPTING AN ANNUAL BUDGET FOR
FISCAL YEAR 2020 FOR THE COLLEYVILLE ECONOMIC
DEVELOPMENT CORPORATION
WHEREAS,the bylaws of the Colleyville Economic Development
Corporation require that an annual budget be adopted by the
Board of Directors; and
WHEREAS,the bylaws require that the budget includes projected revenues
and proposed expenditures.
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS
OF THE COLLEYVILLE ECONOMIC DEVELOPMENT CORPORATION:
Sec. 1.THAT the Fiscal Year 2020 budget amounts for the Colleyville
Economic Development Corporation are as follows:
Total Revenues $1,932,400
Operating Expenditures $1,422,848
Capital Expenditures $1,286,500
Total Expenditures $2,709,348
Use of Fund Balance on Capital Projects $776,948
AND IT IS SO RESOLVED.
APPROVED BY A VOTE OF _ AYES, _ NAYS, AND _ ABSTENTIONS ON THIS
27TH DAY OF AUGUST 2019.
President George Dodson Vice President Richard Newton
Director Tammy Nakamura Director Bobby Lindamood
Director Ralph Hunkins Director John Terhoeve
Director Mark Slosson
Resolution R-19-152
Page 2 of 2
ATTEST:COLLEYVILLE ECONOMIC
DEVELOPMENT CORPORATION
Christine Loven, TRMC George Dodson
Secretary President
City of Colleyville Page 1
City of Colleyville
Colleyville Economic
Development Corporation
Board
Agenda Briefing
City Hall
100 Main Street
Colleyville, Texas 76034
www.colleyville.com
Agenda Number 3c Agenda Date 8/27/2019 Number Resolution R-19-153
Type Resolution
Department City Secretary
Title
Electing a Colleyville Economic Development Corporation Board President and Vice
President
Explanation
Reading and Public Hearing
As per the CEDC bylaws, the President and Vice President shall be elected by the Board
and shall serve a term of one (1) year. The President and Vice President shall continue
to serve until their successors are appointed.
This item provides for the Board of Directors to elect a President and Vice President of
the CEDC.
Attachments
1.RESOLUTION R-18-153
RESOLUTION R-19-153
A RESOLUTION APPOINTING A COLLEYVILLE ECONOMIC
DEVELOPMENT CORPORATION BOARD
PRESIDENT AND VICE PRESIDENT
WHEREAS,the Bylaws of the Colleyville Economic Development
Corporation, state the President and the Vice President shall
be elected by the Board and shall serve a term of one year;
and
WHEREAS, the President and Vice President shall continue to serve until
their successors are appointed.
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS
OF THE COLLEYVILLE ECONOMIC DEVELOPMENT CORPORATION:
Sec. 1.THAT Director _______________ is elected to serve as
President of the Colleyville Economic Development
Corporation.
Sec. 2.THAT Director _______________ is elected to serve as Vice
President of the Colleyville Economic Development
Corporation.
AND IT IS SO RESOLVED.
APPROVED BY A VOTE OF _ AYES, _ NAYS, AND _ ABSTENTIONS ON THIS
27TH DAY OF AUGUST 2019.
President George Dodson Director Tammy Nakamura
Vice Pres. Richard Newton Director John Terhoeve
Director Ralph Hunkins Director Mark Slosson
Director Bobby Lindamood
ATTEST:COLLEYVILLE ECONOMIC
DEVELOPMENT CORPORATION
Christine Loven, TRMC George Dodson
Secretary President
City of Colleyville Page 1
City of Colleyville
Colleyville Economic
Development Corporation
Board
Agenda Briefing
City Hall
100 Main Street
Colleyville, Texas 76034
www.colleyville.com
Agenda Number Agenda Date 8/27/2019 Number
Type Report
Department City Manager
Title
Annual Activity Report
Explanation
The Colleyville Economic Development Corporation bylaws require that the Board make
an annual report to the City Council "reviewing the accomplishments of the Corporation
for the preceding year and the activities of the Corporation for the budget year". The
"required annual report shall be forwarded to the City Council no later than February 1
of each year, after the close of the fiscal year, in the Reports section of the City Council
agenda." Attached is the draft annual report that will be submitted to the City Council
at a future City Council meeting.
Attachments
1.ANNUAL ACTIVITY REPORT of the CEDC FY19
FY 2019 ANNUAL REPORT
OF THE COLLEYVILLE ECONOMIC DEVELOPMENT CORPORATION
Accomplishments and activities for FY 2019 are described below.
Revenues:
Sales tax revenue from a half-cent sales tax approved by Colleyville voters in 1996
is the primary source of revenue for the Colleyville Economic Development
Corporation (CEDC). The FY 2019 budgeted sales tax revenue was $1,907,400.
Through August 2019, actual sales tax revenue is $1,442,608.
Operating Expenditure/Activities:
In FY 2019, the CEDC provided funding for the following operating expenditures and
activities.
Debt service for FY 2018 of $602,176
The City held many special events during FY19 including the Farmer’s Market,
Car Show, Christmas Tree Lighting, and various concerts and movie nights.
Funding for economic development promotional activities has provided for
marketing of City events and activities.
In FY 2019, the CEDC provided funding for 13 part-time library positions, one
full-time library coordinator, a recreation specialist for the senior center, and
partial funding for the community relations specialist position.
Technology costs for the Library, Senior Center, and Colleyville Center
including software licenses, computer replacements, and network switches
Capital Expenditure/Activities:
In FY 2019, the CEDC provided funding for the following capital expenditures and
activities.
Webb House project - included repairs to the building and site improvements
intended to make the property more usable and welcoming for community
enjoyment.
Library renovation project - included a reconfiguration of areas on the first and
second floors to better meet the community’s needs and utilization trends. Also
included was a new children’s area as well as an updated space for adults on
the first floor.
Colleyville Center – included construction of a new outdoor patio for enhanced
rental opportunity, palladium window replacement, new French doors to the
patio, and stage improvements.
City Park – included renovations to baseball fields, adding field equipment
boxes at each field, lightning detector system, scoreboards, and shade
structures.
City of Colleyville Page 1
City of Colleyville
Colleyville Economic
Development Corporation
Board
Agenda Briefing
City Hall
100 Main Street
Colleyville, Texas 76034
www.colleyville.com
Agenda Number Agenda Date 8/27/2019
Type Report
Department City Manager
Title
Annual investment report
Explanation
As of July 31, 2019 the total funds held by the Colleyville Economic Development
Corporation equaled $4,182,705 and were allocated as follows:
Cash and Sweep $2,681,259
Government Issues $1,501,430
LOGIC (Local Government Investment Pool)$16.00
Interest earned from the Sweep account between August 1, 2018 and July 31, 2019
was $5,199.
The Corporation had a government security (FFCB) with a purchase price of
$1,000,000 (par value $1,000,000) that matured on May 2, 2019. Interest earned on
that security was $13,500.
Currently, the Corporation holds a government security (FFCB) with a purchase price of
$1,001,430 (par value $1,000,000) and a market value of $1,001,579, yielding
2.375%, which will mature March 27, 2020.
The Corporation also had a government security (Freddie MAC) with a purchase price
of $500,000 (par value $500,000) and a market value of $499,822, yielding
1.375%, that matured August 15, 2019 and was replaced with a government security
(FHLB) that will mature June 12, 2020. The interest earned on the Freddie MAC note
was $ 3,438.
Attachments