HomeMy WebLinkAboutColleyville Economic Development Corporation (CEDC)-Agenda Packets-08/25/2020City of Colleyville Page 1
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 25, 2020
6:00 p.m.
City Council Chambers
Third Floor, City Hall
1.CALL TO ORDER
2.CONSENT: READING AND PUBLIC HEARING RESOLUTION R20
154
2a Approval of the minutes of the Colleyville Economic Development
Corporation Board of Directors meeting of August 27, 2019
2b Approval of the minutes of the Colleyville Economic Development
Corporation Board of Directors Worksession of August 11, 2020
3.RESOLUTION(S): READING AND PUBLIC HEARING
3a Resolution R20155
Adopting the Economic Development Capital Improvement Program
(EDCIP) for the Fiscal Years 20212025 of the Colleyville Economic
Development Corporation
3b Resolution R20156
Adopting the Fiscal Year 2021 Budget
3c Resolution R20157
Electing a Colleyville Economic Development Corporation Board
President and Vice President
4.REPORTS
Annual Activity Report
Annual Investment Report
5.CITIZEN COMMENTS
6.ADJOURNMENT
I hereby certify this agenda was posted on City Hall bulletin boards August 21,
2020 by 5:00 p.m.
Colleyville Economic
Development Corporation Agenda August 25, 2020
City of Colleyville Page 2
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-20-154
A RESOLUTION APPROVING ACTION UNDER CONSENT ITEMS AT
THE COLLEYVILLE ECONOMIC DEVELOPMENT CORPORATION
BOARD MEETING OF AUGUST 25, 2020
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 27, 2019
b.Approval of the minutes of the Colleyville Economic
Development Corporation Board of Directors Worksession
of August 11, 2020
AND IT IS SO RESOLVED.
APPROVED BY A VOTE OF _ AYES, _ NAYS, ON THIS 25TH DAY OF AUGUST
2020.
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 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.
City of Colleyville Page 2
Colleyville Economic
Development Corporation Minutes - DRAFT August 27, 2019
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:
City of Colleyville Page 3
Colleyville Economic
Development Corporation Minutes - DRAFT August 27, 2019
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.
City of Colleyville Page 4
Colleyville Economic
Development Corporation Minutes - DRAFT August 27, 2019
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 _ AYES, _ NAYS, ON THIS THE 25TH DAY OF AUGUST
2020.
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 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.
City of Colleyville Page 2
Colleyville Economic
Development Corporation Minutes August 11, 2020
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 _ AYES, _ NAYS, ON THIS THE 25TH DAY OF AUGUST
2020.
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 8/25/2020 Number Resolution R-20-155
Type Resolution
Department City Manager
Title
Adopting the Economic Development Capital Improvement Program (EDCIP) for the
Fiscal Years 2021-2025 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 11, 2020, the Board met in a worksession and reviewed and discussed the
proposed projects included in the FY 2021-2025 EDCIP. The attached
resolution approves the FY 2021-2025 EDCIP.
Attachments
1.CEDC Presentation 8-25-20
2.EDCIP FY 2021-2025
3.Resolution R-20-155
Colleyville Economic Development
Corporation (CEDC)
August 25, 2020
•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 2021 Projects
•Continued operations (staffing, technology)
•Re -aligning costs with funding sources
–Community Relations Specialist and promotional
materials moved to HOT
–Portion of CV Center staff moved to CEDC
•Special events
–Continued focus on enhancing existing and adding
new events
•Parks Projects
–Parks House demo & New Amenity
–Softball shaded structure
–Senior Center
–Sidewalk/trail construction/grant match
FY2021 Projects
CEDC FY2021 Budget
Revenues
Sales tax -$2,052,391
Interest income -$10,000
Potential Grant Proceeds -$225,000
Total -$2,287,391
Expenditures
Operating -$1,562,561
•Library, Senior Center,
Colleyville Center staff
•Technology replacements
•Special events
Capital -$685,000
•Parks House Demo/New Amenity
•Shaded Structure for Soft Ball Area
•Senior Center
•Sidewalk/trail construction/grant match
Budget Projection Projection
FISCAL YEAR 2020 2020 2021
BEGINNING FUND BALANCE $4,150,120 $4,150,120 $3,445,727
REVENUES:
PROJECTED 1/2 CENT SALES TAX REVENUE $1,907,400 $2,021,844 $2,052,391
GRANT PROCEEDS $225,000
INTEREST INCOME $25,000 $10,000 $10,000
TOTAL REVENUE $1,932,400 $2,031,844 $2,287,391
Budget Projection Projection
FISCAL YEAR 2020 2020 2021
EXPENDITURES:
ADMINISTRATIVE:$2,000 $2,000 $2,000
DEBT SERVICE $604,144 $604,144 $600,752
PARKS:
WATER / WASTEWATER- MC PHERSON PARK $5,628 $5,628 $5,628
MAINTENANCE $50,000 $50,000 $50,000
LIBRARY:
PERSONNEL $392,999 $392,999 $395,467
OPERATIONS $33,802 $33,802 $33,802
TECHNOLOGY - HARDWARE REPLACEMENT $30,600 $30,600 $30,600
SENIOR CENTER:
PERSONNEL $92,626 $92,626 $96,372
OPERATIONS $500 $500 $500
TECHNOLOGY - HARDWARE REPLACEMENT $3,100 $3,100 $3,100
COLLEYVILLE CENTER:
PERSONNEL $0 $0 $126,010
OPERATIONS $2,000 $2,000 $2,000
TECHNOLOGY- SOFTWARE & MAINTENANCE CONTRACTS $7,241 $7,241 $7,241
TECHNOLOGY - HARDWARE REPLACEMENT $3,850 $3,850 $3,850
CEDC FY2021 Budget
CEDC FY2021 Budget
Budget Projection Projection
FISCAL YEAR 2020 2020 2021
PROMOTIONAL:
MOVIES IN THE VILLAGE $0 $0 $15,000
STARS & GUITARS $0 $0 $60,000
TREE LIGHTING $0 $0 $35,000
HAUNTED TRAILS $20,000
FARMERS MARKET $0 $0 $10,000
MISCELLANEOUS $0 $0 $5,000
MEMORIAL DAY EVENT $15,000
FINE ARTS EVENT $0 $0 $10,000
FWSO CONCERT $0 $0 $20,000
SPECIAL EVENTS $112,000 $112,000 $15,239
PROMOTIONAL MATERIALS (MOVED TO HO $25,000 $25,000 $0
PERSONNEL - COMMUNICATIONS (MOVED $53,666 $53,666 $0
TOTAL OPERATING EXPENDITURES $1,419,156 $1,419,156 $1,562,561
EXCESS REVENUES OVER EXPENDITURES $513,244 $612,688 $724,830
CEDC FY2021 Budget
Budget Projection Projection Projection Projection Projection Projection
FISCAL YEAR 2020 2020 2021 2022 2023 2024 2025
CAPITAL:
COLLEYVILLE CENTER -
FACILITY UPDATES AND REPLACEMENTS $56,500 $56,500 $0 $0 $0 $0 $0
ROOF REPLACEMENT $300,000 $300,000 $0 $0 $0 $0 $0
OUTDOOR FURNITURE $10,000 $10,000 $0 $0 $0 $0 $0
LANDSCAPE IMPROVEMENTS AT MCPHERSON PARK $20,000 $20,000 $0 $0 $0 $0 $0
SIDEWALK/TRAIL CONSTRUCTION/GRANT MATCH $300,000 $300,000 $300,000 $300,000 $300,000 $300,000 $300,000
RESTROOM FACILITY RENOVATIONS $400,000 $400,000 $0 $75,000 $0 $75,000 $0
KIMZEE PARK PLAYGROUND IMPROVEMENT $0 $0 $0 $0 $1,000,000 $0 $0
PARKS HOUSE DEMO $0 $0 $20,000 $0 $0 $0 $0
SOFTBALL - SHADE STRUCTURE W/SEATING AND PLAYGROUND $0 $0 $300,000 $0 $0 $0 $0
WEBB HOUSE REPAIRS $5,912 $5,912 $0 $0 $0 $0 $0
SENIOR CENTER $0 $0 $65,000 $500,000 $0 $0 $0
LIBRARY RENOVATIONS $4,108 $24,669 $0 $0 $0 $0 $0
FUTURE PROJECTS / IMPLEMENTATION OF PARKS MASTER PLAN $200,000 $200,000 $0 $0 $0 $0 $0
TOTAL CAPITAL EXPENDITURES $1,296,520 $1,317,081 $685,000 $875,000 $1,300,000 $375,000 $300,000
TOTAL EXPENDITURES (OPERATING & CAPITAL)$2,715,676 $2,736,237 $2,247,561 $2,469,493 $2,915,201 $2,008,403 $1,958,045
USE OF FUND BALANCE ON CAPITAL PROJECTS/(ADDITIONS TO
FUND BALANCE)$783,276 $704,393 $0 $182,002 $576,300 $0 $0
ENDING FUND BALANCE $3,366,844 $3,445,727 $3,485,557 $3,303,555 $2,727,255 $3,099,929 $3,555,251
RESERVE FOR .4 TIMES BOND COVERAGE RATIO $241,657.60 $241,657.60 $240,300.80 $242,771.20 $241,068.80 $239,251.20 $241,260.80
AVAILABLE ENDING FUND BALANCE $3,125,187 $3,204,070 $3,245,256 $3,060,783 $2,486,186 $2,860,678 $3,313,990
COLLEYVILLE ECONOMIC DEVELOPMENT CORPORATION Exhibit A
ECONOMIC DEVELOPMENT CAPITAL IMPROVEMENT PROGRAM FY 2021 - FY 2025
Budget Projection Projection Projection Projection Projection Projection
FISCAL YEAR 2020 2020 2021 2022 2023 2024 2025
BEGINNING FUND BALANCE $4,150,120 $4,150,120 $3,445,727 $3,485,557 $3,303,555 $2,727,255 $3,099,929
REVENUES:
PROJECTED 1/2 CENT SALES TAX REVENUE $1,907,400 $2,021,844 $2,052,391 $2,052,391 $2,103,700 $2,145,774 $2,177,961
GRANT PROCEEDS $225,000 $225,000 $225,000 $225,000 $225,000
INTEREST INCOME $25,000 $10,000 $10,000 $10,100 $10,201 $10,303 $10,406
TOTAL REVENUE $1,932,400 $2,031,844 $2,287,391 $2,287,491 $2,338,901 $2,381,077 $2,413,367
EXPENDITURES:
ADMINISTRATIVE:$2,000 $2,000 $2,000 $2,060 $2,122 $2,185 $2,251
DEBT SERVICE $604,144 $604,144 $600,752 $606,928 $602,672 $598,128 $603,152
PARKS:
WATER / WASTEWATER- MC PHERSON PARK $5,628 $5,628 $5,628 $5,986 $6,511 $6,917 $7,316
MAINTENANCE $50,000 $50,000 $50,000 $51,500 $53,045 $54,636 $56,275
LIBRARY:
PERSONNEL $392,999 $392,999 $395,467 $408,605 $417,100 $424,241 $429,710
OPERATIONS $33,802 $33,802 $33,802 $34,816 $35,861 $36,936 $38,044
TECHNOLOGY - HARDWARE REPLACEMENT $30,600 $30,600 $30,600 $31,518 $32,464 $33,437 $34,441
SENIOR CENTER:
PERSONNEL $92,626 $92,626 $96,372 $99,931 $102,733 $105,504 $107,993
OPERATIONS $500 $500 $500 $515 $530 $546 $563
TECHNOLOGY - HARDWARE REPLACEMENT $3,100 $3,100 $3,100 $3,193 $3,289 $3,387 $3,489
COLLEYVILLE CENTER:
PERSONNEL $0 $0 $126,010 $130,718 $134,617 $138,602 $142,280
OPERATIONS $2,000 $2,000 $2,000 $2,060 $2,122 $2,185 $2,251
TECHNOLOGY- SOFTWARE & MAINTENANCE CONTRACTS $7,241 $7,241 $7,241 $7,458 $7,682 $7,912 $8,150
TECHNOLOGY - HARDWARE REPLACEMENT $3,850 $3,850 $3,850 $3,966 $4,084 $4,207 $4,333
PROMOTIONAL:
MOVIES IN THE VILLAGE $0 $0 $15,000 $15,000 $15,375 $15,683 $15,918
STARS & GUITARS $0 $0 $60,000 $60,000 $61,500 $62,730 $63,671
TREE LIGHTING $0 $0 $35,000 $35,000 $35,875 $36,593 $37,141
HAUNTED TRAILS $20,000 $20,000 $20,500 $20,910 $21,224
FARMERS MARKET $0 $0 $10,000 $10,000 $10,250 $10,455 $10,612
MISCELLANEOUS $0 $0 $5,000 $5,000 $5,125 $5,228 $5,306
MEMORIAL DAY EVENT $0 $0 $15,000 $15,000 $15,375 $15,683 $15,918
FINE ARTS EVENT $0 $0 $10,000 $10,000 $10,250 $10,455 $10,612
FWSO CONCERT $0 $0 $20,000 $20,000 $20,500 $20,910 $21,224
SPECIAL EVENTS $112,000 $112,000 $15,239 $15,239 $15,620 $15,932 $16,171
PROMOTIONAL MATERIALS (MOVED TO HOTEL TAX FUND IN 2021)$25,000 $25,000 $0 $0 $0 $0 $0
PERSONNEL - COMMUNICATIONS (MOVED TO HOTEL TAX FUND IN 2021)$53,666 $53,666 $0 $0 $0 $0 $0
TOTAL OPERATING EXPENDITURES $1,419,156 $1,419,156 $1,562,561 $1,594,493 $1,615,201 $1,633,403 $1,658,045
EXCESS REVENUES OVER EXPENDITURES $513,244 $612,688 $724,830 $692,998 $723,700 $747,674 $755,322
CAPITAL:
COLLEYVILLE CENTER -
FACILITY UPDATES AND REPLACEMENTS $56,500 $56,500 $0 $0 $0 $0 $0
ROOF REPLACEMENT $300,000 $300,000 $0 $0 $0 $0 $0
OUTDOOR FURNITURE $10,000 $10,000 $0 $0 $0 $0 $0
LANDSCAPE IMPROVEMENTS AT MCPHERSON PARK $20,000 $20,000 $0 $0 $0 $0 $0
SIDEWALK/TRAIL CONSTRUCTION/GRANT MATCH $300,000 $300,000 $300,000 $300,000 $300,000 $300,000 $300,000
RESTROOM FACILITY RENOVATIONS $400,000 $400,000 $0 $75,000 $0 $75,000 $0
KIMZEE PARK PLAYGROUND IMPROVEMENT $0 $0 $0 $0 $1,000,000 $0 $0
PARKS HOUSE DEMO $0 $0 $20,000 $0 $0 $0 $0
SOFTBALL - SHADE STRUCTURE W/SEATING AND PLAYGROUND $0 $0 $300,000 $0 $0 $0 $0
WEBB HOUSE REPAIRS $5,912 $5,912 $0 $0 $0 $0 $0
SENIOR CENTER $0 $0 $65,000 $500,000 $0 $0 $0
LIBRARY RENOVATIONS $4,108 $24,669 $0 $0 $0 $0 $0
FUTURE PROJECTS / IMPLEMENTATION OF PARKS MASTER PLAN $200,000 $200,000 $0 $0 $0 $0 $0
TOTAL CAPITAL EXPENDITURES $1,296,520 $1,317,081 $685,000 $875,000 $1,300,000 $375,000 $300,000
TOTAL EXPENDITURES (OPERATING & CAPITAL)$2,715,676 $2,736,237 $2,247,561 $2,469,493 $2,915,201 $2,008,403 $1,958,045
USE OF FUND BALANCE ON CAPITAL PROJECTS/(ADDITIONS TO FUND
BALANCE)$783,276 $704,393 $0 $182,002 $576,300 $0 $0
ENDING FUND BALANCE $3,366,844 $3,445,727 $3,485,557 $3,303,555 $2,727,255 $3,099,929 $3,555,251
RESERVE FOR .4 TIMES BOND COVERAGE RATIO $241,657.60 $241,657.60 $240,300.80 $242,771.20 $241,068.80 $239,251.20 $241,260.80
AVAILABLE ENDING FUND BALANCE $3,125,187 $3,204,070 $3,245,256 $3,060,783 $2,486,186 $2,860,678 $3,313,990
RESOLUTION R-20-155
A RESOLUTION ADOPTING THE ECONOMIC DEVELOPMENT CAPITAL
IMPROVEMENT PROGRAM (EDCIP) FOR FISCAL YEARS 2021-2025
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, ON THIS 25TH DAY OF AUGUST
2020.
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
COLLEYVILLE ECONOMIC DEVELOPMENT CORPORATION Exhibit A
ECONOMIC DEVELOPMENT CAPITAL IMPROVEMENT PROGRAM FY 2021 - FY 2025
Budget Projection Projection Projection Projection Projection Projection
FISCAL YEAR 2020 2020 2021 2022 2023 2024 2025
BEGINNING FUND BALANCE $4,150,120 $4,150,120 $3,445,727 $3,485,557 $3,303,555 $2,727,255 $3,099,929
REVENUES:
PROJECTED 1/2 CENT SALES TAX REVENUE $1,907,400 $2,021,844 $2,052,391 $2,052,391 $2,103,700 $2,145,774 $2,177,961
GRANT PROCEEDS $225,000 $225,000 $225,000 $225,000 $225,000
INTEREST INCOME $25,000 $10,000 $10,000 $10,100 $10,201 $10,303 $10,406
TOTAL REVENUE $1,932,400 $2,031,844 $2,287,391 $2,287,491 $2,338,901 $2,381,077 $2,413,367
EXPENDITURES:
ADMINISTRATIVE:$2,000 $2,000 $2,000 $2,060 $2,122 $2,185 $2,251
DEBT SERVICE $604,144 $604,144 $600,752 $606,928 $602,672 $598,128 $603,152
PARKS:
WATER / WASTEWATER- MC PHERSON PARK $5,628 $5,628 $5,628 $5,986 $6,511 $6,917 $7,316
MAINTENANCE $50,000 $50,000 $50,000 $51,500 $53,045 $54,636 $56,275
LIBRARY:
PERSONNEL $392,999 $392,999 $395,467 $408,605 $417,100 $424,241 $429,710
OPERATIONS $33,802 $33,802 $33,802 $34,816 $35,861 $36,936 $38,044
TECHNOLOGY - HARDWARE REPLACEMENT $30,600 $30,600 $30,600 $31,518 $32,464 $33,437 $34,441
SENIOR CENTER:
PERSONNEL $92,626 $92,626 $96,372 $99,931 $102,733 $105,504 $107,993
OPERATIONS $500 $500 $500 $515 $530 $546 $563
TECHNOLOGY - HARDWARE REPLACEMENT $3,100 $3,100 $3,100 $3,193 $3,289 $3,387 $3,489
COLLEYVILLE CENTER:
PERSONNEL $0 $0 $126,010 $130,718 $134,617 $138,602 $142,280
OPERATIONS $2,000 $2,000 $2,000 $2,060 $2,122 $2,185 $2,251
TECHNOLOGY- SOFTWARE & MAINTENANCE CONTRACTS $7,241 $7,241 $7,241 $7,458 $7,682 $7,912 $8,150
TECHNOLOGY - HARDWARE REPLACEMENT $3,850 $3,850 $3,850 $3,966 $4,084 $4,207 $4,333
PROMOTIONAL:
MOVIES IN THE VILLAGE $0 $0 $15,000 $15,000 $15,375 $15,683 $15,918
STARS & GUITARS $0 $0 $60,000 $60,000 $61,500 $62,730 $63,671
TREE LIGHTING $0 $0 $35,000 $35,000 $35,875 $36,593 $37,141
HAUNTED TRAILS $20,000 $20,000 $20,500 $20,910 $21,224
FARMERS MARKET $0 $0 $10,000 $10,000 $10,250 $10,455 $10,612
MISCELLANEOUS $0 $0 $5,000 $5,000 $5,125 $5,228 $5,306
MEMORIAL DAY EVENT $0 $0 $15,000 $15,000 $15,375 $15,683 $15,918
FINE ARTS EVENT $0 $0 $10,000 $10,000 $10,250 $10,455 $10,612
FWSO CONCERT $0 $0 $20,000 $20,000 $20,500 $20,910 $21,224
SPECIAL EVENTS $112,000 $112,000 $15,239 $15,239 $15,620 $15,932 $16,171
PROMOTIONAL MATERIALS (MOVED TO HOTEL TAX FUND IN 2021)$25,000 $25,000 $0 $0 $0 $0 $0
PERSONNEL - COMMUNICATIONS (MOVED TO HOTEL TAX FUND IN 2021)$53,666 $53,666 $0 $0 $0 $0 $0
TOTAL OPERATING EXPENDITURES $1,419,156 $1,419,156 $1,562,561 $1,594,493 $1,615,201 $1,633,403 $1,658,045
EXCESS REVENUES OVER EXPENDITURES $513,244 $612,688 $724,830 $692,998 $723,700 $747,674 $755,322
CAPITAL:
COLLEYVILLE CENTER -
FACILITY UPDATES AND REPLACEMENTS $56,500 $56,500 $0 $0 $0 $0 $0
ROOF REPLACEMENT $300,000 $300,000 $0 $0 $0 $0 $0
OUTDOOR FURNITURE $10,000 $10,000 $0 $0 $0 $0 $0
LANDSCAPE IMPROVEMENTS AT MCPHERSON PARK $20,000 $20,000 $0 $0 $0 $0 $0
SIDEWALK/TRAIL CONSTRUCTION/GRANT MATCH $300,000 $300,000 $300,000 $300,000 $300,000 $300,000 $300,000
RESTROOM FACILITY RENOVATIONS $400,000 $400,000 $0 $75,000 $0 $75,000 $0
KIMZEE PARK PLAYGROUND IMPROVEMENT $0 $0 $0 $0 $1,000,000 $0 $0
PARKS HOUSE DEMO $0 $0 $20,000 $0 $0 $0 $0
SOFTBALL - SHADE STRUCTURE W/SEATING AND PLAYGROUND $0 $0 $300,000 $0 $0 $0 $0
WEBB HOUSE REPAIRS $5,912 $5,912 $0 $0 $0 $0 $0
SENIOR CENTER $0 $0 $65,000 $500,000 $0 $0 $0
LIBRARY RENOVATIONS $4,108 $24,669 $0 $0 $0 $0 $0
FUTURE PROJECTS / IMPLEMENTATION OF PARKS MASTER PLAN $200,000 $200,000 $0 $0 $0 $0 $0
TOTAL CAPITAL EXPENDITURES $1,296,520 $1,317,081 $685,000 $875,000 $1,300,000 $375,000 $300,000
TOTAL EXPENDITURES (OPERATING & CAPITAL)$2,715,676 $2,736,237 $2,247,561 $2,469,493 $2,915,201 $2,008,403 $1,958,045
USE OF FUND BALANCE ON CAPITAL PROJECTS/(ADDITIONS TO FUND
BALANCE)$783,276 $704,393 $0 $182,002 $576,300 $0 $0
ENDING FUND BALANCE $3,366,844 $3,445,727 $3,485,557 $3,303,555 $2,727,255 $3,099,929 $3,555,251
RESERVE FOR .4 TIMES BOND COVERAGE RATIO $241,657.60 $241,657.60 $240,300.80 $242,771.20 $241,068.80 $239,251.20 $241,260.80
AVAILABLE ENDING FUND BALANCE $3,125,187 $3,204,070 $3,245,256 $3,060,783 $2,486,186 $2,860,678 $3,313,990
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 8/25/2020 Number Resolution R-20-156
Type Resolution
Department City Manager
Title
Adopting the Fiscal Year 2021 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 2021 budget replicates the
FY 2021 revenues and expenditures contained in the proposed FY 2021 - 2025 EDCIP,
which was reviewed at the CEDC budget worksession on August 11, 2020. Proposed
expenditures for FY 2021 total $2,247,561 as reflected in the attached FY 2021 CEDC
Budget.
Attachments
1.CEDC FY 2021 Line Item Budget
2.Resolution R-20-156
COLLEYVILLE ECONOMIC DEVELOPMENT CORPORATION Exhibit A
ECONOMIC DEVELOPMENT CAPITAL IMPROVEMENT PROGRAM FY 2021 - FY 2025
Budget Projection Projection Projection Projection Projection Projection
FISCAL YEAR 2020 2020 2021 2022 2023 2024 2025
BEGINNING FUND BALANCE $4,150,120 $4,150,120 $3,445,727 $3,485,557 $3,303,555 $2,727,255 $3,099,929
REVENUES:
PROJECTED 1/2 CENT SALES TAX REVENUE $1,907,400 $2,021,844 $2,052,391 $2,052,391 $2,103,700 $2,145,774 $2,177,961
GRANT PROCEEDS $225,000 $225,000 $225,000 $225,000 $225,000
INTEREST INCOME $25,000 $10,000 $10,000 $10,100 $10,201 $10,303 $10,406
TOTAL REVENUE $1,932,400 $2,031,844 $2,287,391 $2,287,491 $2,338,901 $2,381,077 $2,413,367
EXPENDITURES:
ADMINISTRATIVE:$2,000 $2,000 $2,000 $2,060 $2,122 $2,185 $2,251
DEBT SERVICE $604,144 $604,144 $600,752 $606,928 $602,672 $598,128 $603,152
PARKS:
WATER / WASTEWATER- MC PHERSON PARK $5,628 $5,628 $5,628 $5,986 $6,511 $6,917 $7,316
MAINTENANCE $50,000 $50,000 $50,000 $51,500 $53,045 $54,636 $56,275
LIBRARY:
PERSONNEL $392,999 $392,999 $395,467 $408,605 $417,100 $424,241 $429,710
OPERATIONS $33,802 $33,802 $33,802 $34,816 $35,861 $36,936 $38,044
TECHNOLOGY - HARDWARE REPLACEMENT $30,600 $30,600 $30,600 $31,518 $32,464 $33,437 $34,441
SENIOR CENTER:
PERSONNEL $92,626 $92,626 $96,372 $99,931 $102,733 $105,504 $107,993
OPERATIONS $500 $500 $500 $515 $530 $546 $563
TECHNOLOGY - HARDWARE REPLACEMENT $3,100 $3,100 $3,100 $3,193 $3,289 $3,387 $3,489
COLLEYVILLE CENTER:
PERSONNEL $0 $0 $126,010 $130,718 $134,617 $138,602 $142,280
OPERATIONS $2,000 $2,000 $2,000 $2,060 $2,122 $2,185 $2,251
TECHNOLOGY- SOFTWARE & MAINTENANCE CONTRACTS $7,241 $7,241 $7,241 $7,458 $7,682 $7,912 $8,150
TECHNOLOGY - HARDWARE REPLACEMENT $3,850 $3,850 $3,850 $3,966 $4,084 $4,207 $4,333
PROMOTIONAL:
MOVIES IN THE VILLAGE $0 $0 $15,000 $15,000 $15,375 $15,683 $15,918
STARS & GUITARS $0 $0 $60,000 $60,000 $61,500 $62,730 $63,671
TREE LIGHTING $0 $0 $35,000 $35,000 $35,875 $36,593 $37,141
HAUNTED TRAILS $20,000 $20,000 $20,500 $20,910 $21,224
FARMERS MARKET $0 $0 $10,000 $10,000 $10,250 $10,455 $10,612
MISCELLANEOUS $0 $0 $5,000 $5,000 $5,125 $5,228 $5,306
MEMORIAL DAY EVENT $0 $0 $15,000 $15,000 $15,375 $15,683 $15,918
FINE ARTS EVENT $0 $0 $10,000 $10,000 $10,250 $10,455 $10,612
FWSO CONCERT $0 $0 $20,000 $20,000 $20,500 $20,910 $21,224
SPECIAL EVENTS $112,000 $112,000 $15,239 $15,239 $15,620 $15,932 $16,171
PROMOTIONAL MATERIALS (MOVED TO HOTEL TAX FUND IN 2021)$25,000 $25,000 $0 $0 $0 $0 $0
PERSONNEL - COMMUNICATIONS (MOVED TO HOTEL TAX FUND IN 2021)$53,666 $53,666 $0 $0 $0 $0 $0
TOTAL OPERATING EXPENDITURES $1,419,156 $1,419,156 $1,562,561 $1,594,493 $1,615,201 $1,633,403 $1,658,045
EXCESS REVENUES OVER EXPENDITURES $513,244 $612,688 $724,830 $692,998 $723,700 $747,674 $755,322
CAPITAL:
FACILITY UPDATES AND REPLACEMENTS $56,500 $56,500 $0 $0 $0 $0 $0
ROOF REPLACEMENT $300,000 $300,000 $0 $0 $0 $0 $0
OUTDOOR FURNITURE $10,000 $10,000 $0 $0 $0 $0 $0
LANDSCAPE IMPROVEMENTS AT MCPHERSON PARK $20,000 $20,000 $0 $0 $0 $0 $0
SIDEWALK/TRAIL CONSTRUCTION/GRANT MATCH $300,000 $300,000 $300,000 $300,000 $300,000 $300,000 $300,000
RESTROOM FACILITY RENOVATIONS $400,000 $400,000 $0 $75,000 $0 $75,000 $0
KIMZEE PARK PLAYGROUND IMPROVEMENT $0 $0 $0 $0 $1,000,000 $0 $0
PARKS HOUSE DEMO & NEW AMENITY $0 $0 $20,000 $0 $0 $0 $0
SOFTBALL - SHADE STRUCTURE W/SEATING AND PLAYGROUND$0 $0 $300,000 $0 $0 $0 $0
WEBB HOUSE REPAIRS $5,912 $5,912 $0 $0 $0 $0 $0
SENIOR CENTER $0 $0 $65,000 $500,000 $0 $0 $0
LIBRARY RENOVATIONS $4,108 $24,669 $0 $0 $0 $0 $0
FUTURE PROJECTS / IMPLEMENTATION OF PARKS MASTER PLAN$200,000 $200,000 $0 $0 $0 $0 $0
TOTAL CAPITAL EXPENDITURES $1,296,520 $1,317,081 $685,000 $875,000 $1,300,000 $375,000 $300,000
TOTAL EXPENDITURES (OPERATING & CAPITAL)$2,715,676 $2,736,237 $2,247,561 $2,469,493 $2,915,201 $2,008,403 $1,958,045
USE OF FUND BALANCE ON CAPITAL PROJECTS/(ADDITIONS TO FUND BALANCE)$783,276 $704,393 ($39,830)$182,002 $576,300 ($372,674)($455,322)
ENDING FUND BALANCE $3,366,844 $3,445,727 $3,485,557 $3,303,555 $2,727,255 $3,099,929 $3,555,251
RESERVE FOR .4 TIMES BOND COVERAGE RATIO $241,657.60 $241,657.60 $240,300.80 $242,771.20 $241,068.80 $239,251.20 $241,260.80
AVAILABLE ENDING FUND BALANCE $3,125,187 $3,204,070 $3,245,256 $3,060,783 $2,486,186 $2,860,678 $3,313,990
08/19/2020 09:38 |CITY OF COLLEYVILLE |P 1
klester |NEXT YEAR BUDGET DETAIL REPORT |bgnyrpts
PROJECTION:20213 FY 2021 CEDC Budget
ACCOUNTS FOR:
C'VILLE ECONOMIC DEVELOPMENT VENDOR QUANTITY UNIT COST 2021 Proposed
0000 UNDEFINED ____________________________________________
0240000 024-0000-5301 SALES TAX 2,052,391.00
0240000 024-0000-5716 EARNED INTEREST 10,000.00
0240000 024-0000-5719 MISCELLANEOUS 225,000.00
TOTAL UNDEFINED 2,287,391.00
08/19/2020 09:38 |CITY OF COLLEYVILLE |P 2
klester |NEXT YEAR BUDGET DETAIL REPORT |bgnyrpts
PROJECTION:20213 FY 2021 CEDC Budget
ACCOUNTS FOR:
C'VILLE ECONOMIC DEVELOPMENT VENDOR QUANTITY UNIT COST 2021 Proposed
1110 ADMINISTRATION ____________________________________________
0241110 024-1110-6221 AUDIT 2,000.00
TOTAL ADMINISTRATION 2,000.00
08/19/2020 09:38 |CITY OF COLLEYVILLE |P 3
klester |NEXT YEAR BUDGET DETAIL REPORT |bgnyrpts
PROJECTION:20213 FY 2021 CEDC Budget
ACCOUNTS FOR:
C'VILLE ECONOMIC DEVELOPMENT VENDOR QUANTITY UNIT COST 2021 Proposed
1710 LIBRARY ____________________________________________
0241710 024-1710-6101 SALARIES 319,358.82
0241710 024-1710-6141 FICA EXPENSE 24,807.18
0241710 024-1710-6142- GROUP HEALTH INSURANCE 12,534.00
0241710 024-1710-6143 WORKERS' COMPENSATION 569.00
0241710 024-1710-6145 UNEMPLOYMENT COMPENSATION 2,691.00
0241710 024-1710-6146- RETIREMENT 30,653.00
0241710 024-1710-6148- LONGEVITY PAY 3,200.00
0241710 024-1710-6152- ACCRUED LEAVE PAY 1,654.00
0241710 024-1710-6226 MISC. CONTRACTUAL SERVICES 20,085.00 *
1.00 20,085.00 20,085.00
0241710 024-1710-6303 OPERATING SUPPLIES 13,717.00
0241710 024-1710-6312 COMPUTER SUPPLIES 3,000.00 *
1.00 3,000.00 3,000.00
Toner for printers at the
Library
0241710 024-1710-6360 MINOR OPERATING OUTLAY 27,600.00 *
1.00 27,600.00 27,600.00
Desktops and Battery Backups at
the library
TOTAL LIBRARY 459,869.00
08/19/2020 09:38 |CITY OF COLLEYVILLE |P 4
klester |NEXT YEAR BUDGET DETAIL REPORT |bgnyrpts
PROJECTION:20213 FY 2021 CEDC Budget
ACCOUNTS FOR:
C'VILLE ECONOMIC DEVELOPMENT VENDOR QUANTITY UNIT COST 2021 Proposed
3210 PARKS MAINTENANCE ____________________________________________
0243210 024-3210-6251 T.R.A. WATER 5,628.00
0243210 024-3210-6625- IMPROVEMENTS OTHER THAN BLDG 620,000.00 *
1.00 20,000.00 20,000.00
Parks House Demo and New
Amenity
.00 .00 .00
Future Projects
1.00 300,000.00 300,000.00
Sidewalk/Trail
Construction/Grant Match
.00 .00 .00
Landscape improvements at
McPherson Park
1.00 300,000.00 300,000.00
Softball Shade structure with
seating and playground
TOTAL PARKS MAINTENANCE 625,628.00
08/19/2020 09:38 |CITY OF COLLEYVILLE |P 5
klester |NEXT YEAR BUDGET DETAIL REPORT |bgnyrpts
PROJECTION:20213 FY 2021 CEDC Budget
ACCOUNTS FOR:
C'VILLE ECONOMIC DEVELOPMENT VENDOR QUANTITY UNIT COST 2021 Proposed
3220 PARKS ATHLETIC FLD MAINT ____________________________________________
0243220 024-3220-6287- PROPERTY MAINTENANCE 50,000.00
TOTAL PARKS ATHLETIC FLD MAINT 50,000.00
08/19/2020 09:38 |CITY OF COLLEYVILLE |P 6
klester |NEXT YEAR BUDGET DETAIL REPORT |bgnyrpts
PROJECTION:20213 FY 2021 CEDC Budget
ACCOUNTS FOR:
C'VILLE ECONOMIC DEVELOPMENT VENDOR QUANTITY UNIT COST 2021 Proposed
3420 REC SENIOR CENTER ____________________________________________
0243420 024-3420-6101 SALARIES 68,641.00
0243420 024-3420-6141 FICA EXPENSE 5,451.00
0243420 024-3420-6142 GROUP HEALTH INSURANCE 12,634.00
0243420 024-3420-6143 WORKERS' COMPENSATION 103.00
0243420 024-3420-6145 UNEMPLOYMENT COMPENSATION 207.00
0243420 024-3420-6146 RETIREMENT 6,735.00
0243420 024-3420-6148 LONGEVITY PAY 743.00
0243420 024-3420-6152 ACCRUED LEAVE PAY 1,858.00
0243420 024-3420-6312- COMPUTER SUPPLIES 3,600.00
0243420 024-3420-6360- MINOR OPERATING OUTLAY 65,000.00 *
1.00 65,000.00 65,000.00
Senior Center
TOTAL REC SENIOR CENTER 164,972.00
08/19/2020 09:38 |CITY OF COLLEYVILLE |P 7
klester |NEXT YEAR BUDGET DETAIL REPORT |bgnyrpts
PROJECTION:20213 FY 2021 CEDC Budget
ACCOUNTS FOR:
C'VILLE ECONOMIC DEVELOPMENT VENDOR QUANTITY UNIT COST 2021 Proposed
3610 COMMUNICATIONS ____________________________________________
0243610 024-3610-6347- SPECIAL EVENTS 190,000.00 *
1.00 15,000.00 15,000.00
Movies in the Village
1.00 60,000.00 60,000.00
Stars and Guitars
1.00 10,000.00 10,000.00
Farmers Market
1.00 5,000.00 5,000.00
Miscellaneous
1.00 35,000.00 35,000.00
Tree Lighting
20,000.00 1.00 20,000.00
Haunted Trails
1.00 10,000.00 10,000.00
Fine Arts Event
1.00 15,000.00 15,000.00
Memorial Day Event
1.00 20,000.00 20,000.00
FWSO Concert
TOTAL COMMUNICATIONS 190,000.00
08/19/2020 09:38 |CITY OF COLLEYVILLE |P 8
klester |NEXT YEAR BUDGET DETAIL REPORT |bgnyrpts
PROJECTION:20213 FY 2021 CEDC Budget
ACCOUNTS FOR:
C'VILLE ECONOMIC DEVELOPMENT VENDOR QUANTITY UNIT COST 2021 Proposed
3710 COLLEVYILLE CENTER ____________________________________________
0243710 024-3710-6101- SALARIES 88,639.00
0243710 024-3710-6105- SALARY SAVINGS -1,827.00
0243710 024-3710-6141- FICA EXPENSE 6,988.00
0243710 024-3710-6142- GROUP HEALTH INSURANCE 20,215.00
0243710 024-3710-6143- WORKERS' COMPENSATION 265.00
0243710 024-3710-6145- UNEMPLOYMENT COMPENSATION 414.00
0243710 024-3710-6146- RETIREMENT 8,633.00
0243710 024-3710-6148- LONGEVITY PAY 1,061.00
0243710 024-3710-6152- ACCRUED LEAVE PAY 1,622.00
0243710 024-3710-6225- COMPUTER SERVICES 7,241.00 *
1.00 7,241.00 7,241.00
Colleyville Center Software and
Maintenance Contracts
0243710 024-3710-6312- COMPUTER SUPPLIES 2,000.00
0243710 024-3710-6360- MINOR OPERATING OUTLAY 3,850.00 *
1.00 3,850.00 3,850.00
Laptop replacement
TOTAL COLLEVYILLE CENTER 139,101.00
08/19/2020 09:38 |CITY OF COLLEYVILLE |P 9
klester |NEXT YEAR BUDGET DETAIL REPORT |bgnyrpts
PROJECTION:20213 FY 2021 CEDC Budget
ACCOUNTS FOR:
C'VILLE ECONOMIC DEVELOPMENT VENDOR QUANTITY UNIT COST 2021 Proposed
6510 DEBT SERVICE ____________________________________________
0246510 024-6510-6535 CEDC SALES TAX REV BONDS 2005 600,752.00
TOTAL DEBT SERVICE 600,752.00
TOTAL C'VILLE ECONOMIC DEVELOPMENT 4,519,713.00
GRAND TOTAL 4,519,713.00
** END OF REPORT - Generated by Kyle Lester **
08/19/2020 09:38 |CITY OF COLLEYVILLE |P 10
klester |NEXT YEAR BUDGET DETAIL REPORT |bgnyrpts
PROJECTION:20213 FY 2021 CEDC Budget
ACCOUNTS FOR:
C'VILLE ECONOMIC DEVELOPMENT VENDOR QUANTITY UNIT COST 2021 Proposed
Field # Total Page Break
Sequence 1 1 Y Y
Sequence 2 2 Y Y
Sequence 3 0 N N
Sequence 4 0 N N
Report title:
08/19/2020 09:38 |CITY OF COLLEYVILLE |P 10
klester |NEXT YEAR BUDGET DETAIL REPORT |bgnyrpts
PROJECTION:20213 FY 2021 CEDC Budget FOR PERIOD 99
Report type:3
Include employee with benefit detail:N
Budget level: 4
Percentage change calculation method:1
Print detail lines:B
Print first or second year of budget requests:F
Print revenue as credit:N
Include cfwd in rev bud:N
Include cfwd in actuals:N
Print totals only:N
Include segment code:N
Include report grand totals by account type:N
Print full GL account:Y
Double space:N
Suppress zero bdgt accts:Y
Print as worksheet:N
Print percent change or comment:C
Print text:N
Amounts/totals exceed 999 million dollars:N
Print five budget levels:N
Report view:D
Find Criteria
Field Name Field Value
Org
Object
Project
Account type
Account status
RESOLUTION R-20-156
A RESOLUTION ADOPTING AN ANNUAL BUDGET FOR
FISCAL YEAR 2021 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 2021 budget amounts for the Colleyville
Economic Development Corporation are as follows:
Total Revenues $2,287,391
Operating Expenditures $1,562,561
Capital Expenditures $ 685,000
Total Expenditures $2,247,561
Use of Fund Balance on Capital Projects $ -0-
AND IT IS SO RESOLVED.
APPROVED BY A VOTE OF _ AYES, _ NAYS, ON THIS 25TH DAY OF AUGUST
2020.
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 3c Agenda Date 8/25/2020 Number Resolution R-20-157
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-20-157
RESOLUTION R-20-157
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, ON THIS 25TH DAY OF AUGUST
2020.
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 8/25/2020 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.CEDC Annual Activity Report - FY 2020
FY 2020 ANNUAL REPORT
OF THE COLLEYVILLE ECONOMIC DEVELOPMENT CORPORATION
Accomplishments and activities for FY 2020 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 2020 budgeted sales tax revenue was $1,907,400.
Through August 2020, actual sales tax revenue is $1,562,828.
Operating Expenditure/Activities:
In FY 2020, the CEDC provided funding for the following operating expenditures and
activities.
Debt service of $604,144
Despite the effects of the COVID pandemic, the City held many special events
during FY20 including the Farmer’s Market, Car Show, Christmas Tree Lighting,
Stars & Guitars, and movie nights.
Funding for economic development promotional activities has provided for
marketing of City events and activities.
In FY 2020, 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 2020, the CEDC provided funding for the following capital expenditures and
activities.
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 facility updates/replacements, a roof
replacement, and outdoor furniture.
McPherson Park – included landscape improvements.
City Park – restroom construction.
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 8/25/2020
Type Report
Department City Manager
Title
Annual Investment Report
Explanation
As of July 31, 2020 the total funds held by the Colleyville Economic Development
Corporation equaled $4,255,983 and were allocated as follows:
•Cash $1,243,168
•Government Issues $2,000,365
•LOGIC (Local Government Investment Pool)$16.00
•Certificates of Deposit $1,012,434
The Corporation had a government security (FFCB) with a purchase price of
$1,001,430 (par value $1,000,000) that matured on March 27, 2020. Interest earned
on that security was $22,984.
Currently, security rates are well below the average government pool rates and
certificate of deposit rates, so when reinvestment opportunities come up those are the
first places we will look. As of July, the Corporation holds a jumbo certificate of deposit
with Spirit of Texas Bank at a par value of $1,000,000 and year-to-date interest
earnings of $12,434.24. This investment will mature on April 24, 2021 with a total
earned interest of $18,500, for a 1.85% rate of return.
COLLEYVILLE ECONOMIC DEVELOPMENT CORPORATION Exhibit A
ECONOMIC DEVELOPMENT CAPITAL IMPROVEMENT PROGRAM FY 2021 - FY 2025
Budget Projection Projection Projection Projection Projection Projection
FISCAL YEAR 2020 2020 2021 2022 2023 2024 2025
BEGINNING FUND BALANCE $4,150,120 $4,150,120 $3,445,727 $3,485,557 $3,303,555 $2,727,255 $3,099,929
REVENUES:
PROJECTED 1/2 CENT SALES TAX REVENUE $1,907,400 $2,021,844 $2,052,391 $2,052,391 $2,103,700 $2,145,774 $2,177,961
GRANT PROCEEDS $225,000 $225,000 $225,000 $225,000 $225,000
INTEREST INCOME $25,000 $10,000 $10,000 $10,100 $10,201 $10,303 $10,406
TOTAL REVENUE $1,932,400 $2,031,844 $2,287,391 $2,287,491 $2,338,901 $2,381,077 $2,413,367
EXPENDITURES:
ADMINISTRATIVE:$2,000 $2,000 $2,000 $2,060 $2,122 $2,185 $2,251
DEBT SERVICE $604,144 $604,144 $600,752 $606,928 $602,672 $598,128 $603,152
PARKS:
WATER / WASTEWATER- MC PHERSON PARK $5,628 $5,628 $5,628 $5,986 $6,511 $6,917 $7,316
MAINTENANCE $50,000 $50,000 $50,000 $51,500 $53,045 $54,636 $56,275
LIBRARY:
PERSONNEL $392,999 $392,999 $395,467 $408,605 $417,100 $424,241 $429,710
OPERATIONS $33,802 $33,802 $33,802 $34,816 $35,861 $36,936 $38,044
TECHNOLOGY - HARDWARE REPLACEMENT $30,600 $30,600 $30,600 $31,518 $32,464 $33,437 $34,441
SENIOR CENTER:
PERSONNEL $92,626 $92,626 $96,372 $99,931 $102,733 $105,504 $107,993
OPERATIONS $500 $500 $500 $515 $530 $546 $563
TECHNOLOGY - HARDWARE REPLACEMENT $3,100 $3,100 $3,100 $3,193 $3,289 $3,387 $3,489
COLLEYVILLE CENTER:
PERSONNEL $0 $0 $126,010 $130,718 $134,617 $138,602 $142,280
OPERATIONS $2,000 $2,000 $2,000 $2,060 $2,122 $2,185 $2,251
TECHNOLOGY- SOFTWARE & MAINTENANCE CONTRACTS $7,241 $7,241 $7,241 $7,458 $7,682 $7,912 $8,150
TECHNOLOGY - HARDWARE REPLACEMENT $3,850 $3,850 $3,850 $3,966 $4,084 $4,207 $4,333
PROMOTIONAL:
MOVIES IN THE VILLAGE $0 $0 $15,000 $15,000 $15,375 $15,683 $15,918
STARS & GUITARS $0 $0 $60,000 $60,000 $61,500 $62,730 $63,671
TREE LIGHTING $0 $0 $35,000 $35,000 $35,875 $36,593 $37,141
HAUNTED TRAILS $20,000 $20,000 $20,500 $20,910 $21,224
FARMERS MARKET $0 $0 $10,000 $10,000 $10,250 $10,455 $10,612
MISCELLANEOUS $0 $0 $5,000 $5,000 $5,125 $5,228 $5,306
MEMORIAL DAY EVENT $0 $0 $15,000 $15,000 $15,375 $15,683 $15,918
FINE ARTS EVENT $0 $0 $10,000 $10,000 $10,250 $10,455 $10,612
FWSO CONCERT $0 $0 $20,000 $20,000 $20,500 $20,910 $21,224
SPECIAL EVENTS $112,000 $112,000 $15,239 $15,239 $15,620 $15,932 $16,171
PROMOTIONAL MATERIALS (MOVED TO HOTEL TAX FUND IN 2021)$25,000 $25,000 $0 $0 $0 $0 $0
PERSONNEL - COMMUNICATIONS (MOVED TO HOTEL TAX FUND IN 2021)$53,666 $53,666 $0 $0 $0 $0 $0
TOTAL OPERATING EXPENDITURES $1,419,156 $1,419,156 $1,562,561 $1,594,493 $1,615,201 $1,633,403 $1,658,045
EXCESS REVENUES OVER EXPENDITURES $513,244 $612,688 $724,830 $692,998 $723,700 $747,674 $755,322
CAPITAL:
COLLEYVILLE CENTER -
FACILITY UPDATES AND REPLACEMENTS $56,500 $56,500 $0 $0 $0 $0 $0
ROOF REPLACEMENT $300,000 $300,000 $0 $0 $0 $0 $0
OUTDOOR FURNITURE $10,000 $10,000 $0 $0 $0 $0 $0
LANDSCAPE IMPROVEMENTS AT MCPHERSON PARK $20,000 $20,000 $0 $0 $0 $0 $0
SIDEWALK/TRAIL CONSTRUCTION/GRANT MATCH $300,000 $300,000 $300,000 $300,000 $300,000 $300,000 $300,000
RESTROOM FACILITY RENOVATIONS $400,000 $400,000 $0 $75,000 $0 $75,000 $0
KIMZEE PARK PLAYGROUND IMPROVEMENT $0 $0 $0 $0 $1,000,000 $0 $0
PARKS HOUSE DEMO $0 $0 $20,000 $0 $0 $0 $0
SOFTBALL - SHADE STRUCTURE W/SEATING AND PLAYGROUND $0 $0 $300,000 $0 $0 $0 $0
WEBB HOUSE REPAIRS $5,912 $5,912 $0 $0 $0 $0 $0
SENIOR CENTER $0 $0 $65,000 $500,000 $0 $0 $0
LIBRARY RENOVATIONS $4,108 $24,669 $0 $0 $0 $0 $0
FUTURE PROJECTS / IMPLEMENTATION OF PARKS MASTER PLAN $200,000 $200,000 $0 $0 $0 $0 $0
TOTAL CAPITAL EXPENDITURES $1,296,520 $1,317,081 $685,000 $875,000 $1,300,000 $375,000 $300,000
TOTAL EXPENDITURES (OPERATING & CAPITAL)$2,715,676 $2,736,237 $2,247,561 $2,469,493 $2,915,201 $2,008,403 $1,958,045
USE OF FUND BALANCE ON CAPITAL PROJECTS/(ADDITIONS TO FUND
BALANCE)$783,276 $704,393 $0 $182,002 $576,300 $0 $0
ENDING FUND BALANCE $3,366,844 $3,445,727 $3,485,557 $3,303,555 $2,727,255 $3,099,929 $3,555,251
RESERVE FOR .4 TIMES BOND COVERAGE RATIO $241,657.60 $241,657.60 $240,300.80 $242,771.20 $241,068.80 $239,251.20 $241,260.80
AVAILABLE ENDING FUND BALANCE $3,125,187 $3,204,070 $3,245,256 $3,060,783 $2,486,186 $2,860,678 $3,313,990