HomeMy WebLinkAboutColleyville Economic Development Corporation (CEDC)-Minutes-08/28/2018
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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
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.
Colleyville Economic
Development Corporation Minutes August 28, 2018
City of Colleyville Page 2
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:
Colleyville Economic
Development Corporation Minutes August 28, 2018
City of Colleyville Page 3
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.
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Development Corporation Minutes August 28, 2018
City of Colleyville Page 4
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 6 AYES, 0 NAYS, AND 0 ABSTENTIONS ON THIS THE
27TH DAY OF AUGUST 2019.
Minutes taken and prepared by:
Christine Loven, TRMC
City Secretary