HomeMy WebLinkAboutColleyville Economic Development Corporation (CEDC)-Minutes-08/11/2020City 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 11, 2020
5:30 p.m.
Executive Conference Room
Third Floor – City Hall
1. CALL TO ORDER
2.PRESENTATION AND DISCUSSION
2a Discussion of the FY 2021 proposed Colleyville Economic Development
Corporation (CEDC) budget and the FY 2021 2025 Economic
Development Capital Improvement Program (EDCIP) priorities
3.ADJOURNMENT
I hereby certify this agenda was posted on City Hall bulletin boards Thursday, August
6, 2020 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
Colleyville Economic
Development Corporation
Board Worksession Minutes
City Hall
100 Main Street
Colleyville, Texas 76034
817. 503.1000
www.colleyville.com
Tuesday, August 11, 2020
President George Dodson called the Colleyville Economic Development Corporation
Board Worksession to order on August 11, 2020, at 5:33 p.m.
ROLL CALL: President George Dodson, Vice President Richard Newton, and
Directors Ralph Hunkins, Mark Slosson, and Kathy Wheat, and via Webex: Bobby
Lindamood and John Terhoeve.
Also Present: Finance Director Kyle Lester, City Manager Jerry Ducay, Assistant
City Manager Adrienne Lothery, Parks and Recreation Director Lisa Escobedo, and
City Secretary Christine Loven
2. PRESENTATION AND DISCUSSION
2a Discussion of the FY 2021 proposed Colleyville Economic Development
Corporation (CEDC) budget and the FY 2021 - 2025 Economic
Development Capital Improvement Program (EDCIP) priorities
Finance Director Kyle Lester provided a presentation which gave an overview of
the CEDC, highlighted 2020 operations and capital expenditures and projects
which included: 13 part-time librarians, one full time recreation specialist, a
portion of the community relations specialist, technology (desktops, laptops,
battery backups, network switch), special events, library renovation, Colleyville
Center projects, Webb House rehab, and City Park improvements.
Director Lester stated the 2021 budget will provide for continued operations in
staffing and technology, special events, and Parks projects to include the
demolition of the Parks House, adding a softball shaded structure, renovations at
the Senior Center, and grant match funding for sidewalks and trails. Director
Lester noted the 2021 budget reflects moving the community relations specialist,
promotional materials, and a portion of the Colleyville Center staff funding out of
the CEDC and utilizing the Hotel Occupancy Tax fund instead.
Director Lister provided a review of the CEDC budget line items, noting projects
planned throughout EDCIP. He stated the sales tax projections are conservative,
although he is confident the projection will be surpassed. Director Lester stated
the item not within their contract and for which he has concern is the interest
income, as interest rates are bottoming out.
President Dodson asked if the bond ratio coverage was still required. City
Manager stated yes, the bond coverage ratio much stay in place as long as the
City has bonds.
Colleyville Economic
Development Corporation Minutes August 11, 2020
City of Colleyville Page 2
There was general discussion of the callable debt. Director Lester will research the
bonds and debt and investigate the possibility of paying off the debt within the
CEDC fund.
There was discussion of the maintenance and operation costs at McPherson Park,
the addition of a Memorial Day event, and changes to the Haunted Trails and Stars
and Guitars events.
While reviewing the Capital Expenditures there were questions regarding the
library renovation project, Parks Master Plan, and the Senior Center. Assistant
City Manager Adrienne Lothery stated the $200,000 for the Parks Master Plan was
a place holder and did not have a specific project assigned.
Manager Ducay stated not all projections will equal out or be funded, but it
provides for planning. He also noted the Senior Center will be a more minimal
renovation, with the first step being to hire a consultant and split renovation costs
over several funds.
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 7 AYES, 0 NAYS, ON THIS THE 25TH DAY OF AUGUST
2020.
Minutes taken and prepared by:
Christine Loven, TRMC
City Secretary