HomeMy WebLinkAboutColleyville Economic Development Corporation (CEDC)-Agenda Packets-08/13/2019City 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 13, 2019
5:30 p.m.
Executive Conference Room
Third Floor – City Hall
1. CALL TO ORDER
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
3.ADJOURNMENT
I hereby certify this agenda was posted on City Hall bulletin boards Friday, August 9,
2019 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 8/13/2019 Number
Type Presentation and Discussion
Department City Manager
Title
Discussion of the FY 2020 proposed Colleyville Economic Development Corporation
(CEDC) budget and the FY 2020 - 2024 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 2020 through 2024 from the attached annual budget and EDCIP, which is
currently scheduled for adoption by the Board at the CEDC meeting on August 27, 2019.
Year one of the EDCIP (FY 2020) will also be brought forward for appropriation and
budget adoption at that meeting.
Attachments
1.EDCIP FY 2020-2024
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 $2,252,228 $1,295,811 $1,123,833 $964,854
REVENUES:
PROJECTED 1/2 CENT SALES TAX REVENUE $1,907,400 $1,907,400 $1,926,474 $1,945,739 $1,965,196 $1,984,848 $2,004,697
INTEREST INCOME $9,273 $26,721 $25,000 $25,250 $25,503 $25,758 $26,015
TOTAL REVENUE $1,916,673 $1,934,121 $1,951,474 $1,970,989 $1,990,699 $2,010,606 $2,030,712
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 $528,626 $543,583 $528,023 $541,020 $535,409
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 $757,874 $956,417 $171,977 $158,980 $164,591
ENDING FUND BALANCE $2,923,192 $3,010,102 $2,252,228 $1,295,811 $1,123,833 $964,854 $800,262
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 $2,010,570 $1,055,510 $881,062 $723,785 $561,011