HomeMy WebLinkAboutColleyville Economic Development Corporation (CEDC)-Minutes-08/27/2019
City of Colleyville Page 1
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 27, 2019
President Dodson called the Colleyville Economic Development Corporation Board
meeting to order on August 27, 2019 at 5:00 p.m.
ROLL CALL: President Dodson, Vice President Richard Newton, Directors Ralph
Hunkins, Bobby Lindamood, John Terhoeve, Mark Slosson, and Kathy Wheat.
ALSO PRESENT: City Manager Jerry Ducay, Assistant City Manager Adrienne
Lothery, Assistant City Manager Mark Wood, and City Secretary Christine Loven.
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, 2018
2b Approval of the minutes of the Colleyville Economic Development
Corporation Board of Directors Worksession of August 13, 2019
President Dodson read Resolution R-19-150 in its entirety.
President Dodson opened the public hearing at 5:03 p.m. There was no one
present wishing to speak and President Dodson closed the public hearing at 5:03
p.m.
Director Wheat made a motion to approve Resolution R-19-150, and Vice
President Newton provided the second.
The motion was approved by the following vote:
Ayes: 7 – President Dodson, Vice President Newton, Directors Hunkins,
Lindamood, Terhoeve, Slosson, and Wheat.
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
President Dodson read Resolution R-19-151 in its entirety.
Colleyville Economic
Development Corporation Minutes August 27, 2019
City of Colleyville Page 2
Assistant City Manager Mark Wood presented this item and answered questions of
the Board.
Manager Wood presented items 3a and 3b together, noting the review of the
EDCIP and the budget had been presented in the worksession. Manager Wood
gave a high level review of the CEDC, the event items outlined in the EDCIP, and
the budget projections. He included the proposed event schedule, an overview of
the library renovation, courtyard addition at Colleyville Center, the Webb House
rehabilitation, and park enhancements.
President Dodson opened the public hearing at 5:11 p.m. There was no one
present wishing to speak and President Dodson closed the public hearing at 5:11
p.m.
Director Lindamood made a motion to approve Resolution R-19-151,
Director Slosson provided the second.
The motion was approved by the following vote:
Ayes: 7 – President Dodson, Vice President Newton, Directors Hunkins,
Lindamood, Terhoeve, Slosson, and Wheat.
Due to a technology glitch, the meeting went off line at 5:06 p.m. and was
returned to an on-line status at 5:11 p.m. President Dodson reread Resolution R-
19-151 and the vote.
3b Resolution R-19-152
Adopting the Fiscal Year 2020 Budget
President Dodson read Resolution R-19-152 in its entirety.
Manager Wood reiterated the presentation included the budget projections and
review, and he is available to answer any questions.
Vice Chairman Newton noted over the next five years the City is drawing down the
fund balance, which is the City’s strategy, to invest in trails and park amenities.
President Dodson opened the public hearing at 5:25 p.m. There was no one
present wishing to speak and President Dodson closed the public hearing at 5:25
p.m.
Director Wheat made a motion to approve Resolution R-19-152, and
Director Hunkins provided the second.
The motion was approved by the following vote:
Colleyville Economic
Development Corporation Minutes August 27, 2019
City of Colleyville Page 3
Ayes: 7 – President Dodson, Vice President Newton, Directors Hunkins,
Lindamood, Terhoeve, Slosson, and Wheat.
3c Resolution R-19-153
Electing a Colleyville Economic Development Corporation Board
President and Vice President
President Dodson read Resolution R-19-153 in its entirety.
There was no discussion.
President Dodson opened the public hearing at 5:28 p.m. There was no one
present wishing to speak and President Dodson closed the public hearing at 5:28
p.m.
Director Lindamood made a motion to approve Resolution R-19-153,
electing George Dodson as President and Richard Newton as Vice
President, and Director Hunkins provided the second.
The motion was approved by the following vote:
Ayes: 7 – President Dodson, Vice President Newton, Directors Hunkins,
Lindamood, Terhoeve, Slosson, and Wheat.
4. REPORTS
Annual Activity Report
Annual investment report
Manager Wood noted both reports are required per the bylaws.
President Dodson noted the investment returns are increasing due to the change
in the sweep account. Manager Wood concurred.
Director Terhoeve asked if there was debt we could refinance while the interest
rates are low. There was discussion of the last refinance and staff was directed to
review the debt and interest rates.
Manager Wood noted the reports will be forwarded to City Council for approval.
5. CITIZEN COMMENTS
There was no one present wishing to speak.
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Development Corporation Minutes August 27, 2019
City of Colleyville Page 4
6. ADJOURNMENT
There being no further business to come before the Board, President Dodson
adjourned the meeting without objection at 5:33 p.m.
APPROVED BY A VOTE OF 7 AYES, 0 NAYS, ON THIS THE 25TH DAY OF AUGUST
2020.
Minutes taken and prepared by:
Christine Loven, TRMC
City Secretary