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Home My WebLink AboutColleyville Economic Development Corporation (CEDC)-Minutes-8/30/2012`~`~'~ ~~ "'~ Cit of Colle ville ~""~ y y City Hall ~CaLLE~VILLE 100 Main Street `y '" ~ Colleyville, Texas 76034 Colleyville Economic 817.503.1000 ~ ~ ~` ~' ~ www.colleyville.com Development Corporation Board Worksession Agenda Tuesday, August 14, 2012 Executive Conference Room 7:00 p.m. Third Floor, City Hall 1. CALL TO ORDER 2. PRESENTATION AND DISCUSSION 2a Colleyville Economic Development Corporation (CEDC) Fiscal Year 2012 (FY 2012) budget update 2b Discussion of the FY 2013 - 2017 Economic Development Capital Improvement Program (EDCIP) priorities 3. ADJOURNMENT I hereby certify this agenda was posted on City Hall bulletin boards Friday, August 10, 2012, by 5:00 p.m. 4~ ~yntnia 5ingleton, TRMC, CMC City Secretary 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 Executive Secretary at least 48 hours in advance at 817.503.1110, and reasonable accommodations will be made to assist you. `j`` ~ `~`'~ City of Colleyville ~'` City Hall COLLEYVILLE 100 Main Street `~~'`~~ "~d`"~« ~i~~(;~~~`,r`~~~ Colleyville, Texas 76034 7. ~ Y~ s Colleyville Economic 817. 503.1000 www.colleyville.com Development Corporation Board Worksession Minutes Tuesday, August 14, 2012 Executive Conference Room 7:00 p.m. Third Floor, City Hall The Colleyville Economic Development Corporation Board was called to order by President David Kelly on August 14, 2012, at 7:03 p.m. ROLL CALL: Directors Stan Hall, Mark Slosson, Carel Tornes, and Vice President Carol Wollin were present. President David Kelly, General Manager Jennifer Fadden, Finance Manager Terry Leake, Economic Development Director Marty Wieder, Parks Superintendent Tim Hightshoe, Public Works Director Bob Lowry, Library Director Mary Rodne, Strategic Services Manager Eric Ellwanger, Colleyville Center Manager Lin Przybyl, and Assistant City Secretary Christine Loven were also present. Directors Tom Hart and Timothy Mark Kelso were absent. 2. PRESENTATION AND DISCUSSION 2a Colleyville Economic Development Corporation (CEDC) Fiscal Year 2012 (FY 2012) budget update Finance Manager Terry Leake provided an update of the Colleyville Economic Development Corporation (CEDC) Fiscal Year 2012 (FY 2012) budget and answered questions of the Board. Ms. Leake stated the FY 2012 beginning fund balance was higher, as sales tax revenues exceeded projections in the last months of FY 2011 and with three-quarters of FY 2012 complete; sales tax revenues have totaled $1,045,570, which is 7.59% above FY 2011 tax revenues at the same time. In reviewing the FY 2012 budget, Finance Manager Leake explained that at the end of FY 2012, the design of the Bogart Drive to Mission Lane segment of the Pleasant Run Trail will not be completed and the acquisition of right-of-way (ROW) will not occur until completion of design. She further explained the funds allocated to future parks projects would not be spent; however, the budgeted funds will be reallocated to the same projects in the proposed FY 2013 budget. Available cash is also being budgeted in the proposed budget. Discussion of available cash, the required coverage ratio, and projects to be moved forward into 2013 ensued. Colleyville Economic Development Corporation Minutes August 14, 2012 2b Discussion of the FY 2013 - 2017 Economic Development Capital Improvement Program (EDCIP) priorities Finance Manager Terry Leake stated the CEDC bylaws require the Board to develop an Economic Development Capital Improvement Program (EDCIP), to address long and short-term development goals and City needs. Finance Manager Leake highlighted the proposed EDCIP for FY 2013-2017, noting projection of sales tax growth remains conservative. Planned expenditures include carry forward funding for incomplete FY 2012 projects including the right-of-way acquisitions, Pleasant Run Trail design, construction of the Pleasant Run Trail and Cotton Belt II spur, and future parks projects. Additional projects incorporated into the EDCIP include replacement tables and chairs at Colleyville Center and the Senior Center, replacement of the flat roof at Colleyville Center, a rebranding study, and renovations for the Senior Center. Additionally, Ms. Leake reviewed the proposed FY 2013 promotional budget, which provides funding for the Colleyville CloseBuy and Come to Colleyville programs, and City sponsored special events to include the Old Tyme BBQ, Red, White, & Sousa, and Holly Colley. Finance Manger Leake then reviewed the future projects category monetary increases for the years 2014 through 2017, and stated the category allows for planned needs for City facilities such as the Library, Senior Center, Colleyville Center, and trails. Discussion included moving funding for the air conditioner replacement at Colleyville Center from the FY 2015 budget to the FY 2013 budget. The Board requested the proposed FY 2013 budget be revised to include the air conditioner replacement. Discussion ensued regarding funding for Texas Night Out, Senior Center, Library staffing, and hours of operation at the Senior Center. City Manager Jennifer Fadden stated t operation will be reviewed following the review will be provided to the Board, as 2000, and since that time, there has be automated equipment. e Senior Center staffing and hours of rebranding study, and a library staffing the last staffing study was performed in ~n a significant investment in the use of Economic Development Director Marty Wieder provided information regarding the Colleyville CloseBuy Program introduction and components. Colleyville Economic Development Corporation Minutes August 14, 2012 3. AD]OURNMENT There being no further business before the Colleyville Economic Development Corporation Board, President Kelly adjourned the meeting at 7:48 p.m. APPROVED BY A VOTE OF AYES, D NAYS, AND O ABSTENTIONS ON THIS THE~ DAY OF 2012. Minutes taken and prep ed by: ~ ~ (,~~ ~ Christine Loven Assistant City Secretary ~ n~ „ .i.. ~ S .~,-. . ~ . ~ ~ ,: ,~ , y. , ~ . ~ ,~ : s, ~. . ~ . ~,~ . -~- .n . ~ .. ~ ~ - :.