HomeMy WebLinkAboutColleyville Economic Development Corporation (CEDC) Resolutions (R-12-118)-08/28/2012RESOLUTION R-12-118
A RESOLUTION ADOPTING THE ECONOMIC DEVELOPMENT CAPITAL
IMPROVEMENT PROGRAM (EDCIP) FOR FISCAL YEARS 2013-2017
WHEREAS, the bylaws of the Colleyville Economic Development
Corporation require that an Economic Development Capital
Improvement Program 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 the projects to be undertaken by the
Corporation and include proposed methods 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.
PASSED AND ADOPTED, THIS August 28, 2012.
COLLEYVILLE ECONOMIC
DEVELOPMENT CORPORATION
David Kelly
President
ATTES~:
Cynthia Singleton, TRMC,rCMC
City Secretary
COLLEYVILLE ECONOMIC DEVELOPMENT CORPORATION EXHIBIT A
ECONOMIC DEVELOPMENT CAPITAL IMPROVEMENT PROGRAM FY 2013 - FY 2017
FISCALYEAR 2012 $2,013 2014 2015 2016 2017
BEGINNING FUND BALANCE $1,854,880 $1,945,474 $1,141,977 $952,523 $935,125 $920,488
REVENUES:
PRO]ECTED 1/2 CENT SALES TAX REVENUE $1,382,500 $1,335,000 $1,348,350 $1,361,834 $1,375,452 $1,389,206
[NTERESTINCOME $3,905 $3,891 $2,284 $1,905 $1,870 $1,841
USE OF AVAILABLE CASH $168,041 $1,062,844 $447,307 $275,551 $274,805 $316,048
TOTAL REVENUES $1,554,446 $2,401,735 $1,797,940 $1,639,289 $1,652,127 $1,707,095
EXPENDITURES:
OPERATING:
ADMINISTRATIVE $2,000 $2,000 $2,000 $2,000 $2,000 $2,000
2005 DEBT SERVICE & 1.4 TIMES COVERAGE $905,223 $907,711 $902,482 $903,536 $910,584 $909,629
PROMOTIONAL $129,368 $133,889 $135,063 $136,374 $137,732 $139,105
WATER / WASTEWATER- MC PHERSON PARK $16,480 $16,974 $17,483 $18,008 $18,548 $19,104
PERSONNEL - SENIOR CENTER $70,095 $72,198 $73,642 $75,851 $78,127 $80,471
PERSONNEL - LIBRARY $69,024 $71,095 $72,517 $73,967 $75,447 $76,956
OPERATIONS- LIBRARY $4,167 $4,292 $4,421 $4,553 $4,690 $4,831
CAPITAL:
INTERFUND LOAN - COLLEYVILLE CENTER RENOVATIONS $165,331 $165,331 $165,332 $0 $0 $0
($661,325 REPAID OVER 4 YEARS)
COLLEYVILLE CENTER- REPLACEMENT TABLES $0 $12,000 $0 $0 $0 $0
COLLEWILLE CENTER - REPLACEMENT CHAIRS $0 $41,000 $0 $0 $0 $0
COLLEYVILLE CENTER - REPLACEMENT MAIN AIR CONDITIONER UNIT $0 $30,000 $0 $0 $0 $0
COLLEYVILLE CENTER- REPLACEMENT FLAT ROOF $0 $50,000 $0 $0 $0 $0
COLLEYVILLE CENTER- REPLACEMENT STAGE CURTAIN $0 $0 $0 $0 $0 $25,000
LIBRARY - BALANCE OF UNUSED 2011 SALARIES (FF&E) $46,532 $0 $0 $0 $0 $0
LIBRARY - SECOND FLOOR, TEEN ROOM AND FIRST FLOOR-TECHNOLOGY / FF&E $78,566 $0 $0 $0 $0 $0
LIBRARY TECHNOLOGY REPLACEMENTS $51,000 $0 $0 $0 $0 $0
CITYWIDE TRAIL SYSTEM
COTTON BELT II SPUR @ WEBB HOUSE CONSTRUCTION $0 $165,000 $0 $0 $0 $0
PLEASANT RUN TRAIL DESIGN (BOGART TO MISSION)-CARRY FORWARD $16,660 $41,340 $0 $0 $0 $0
PLEASANT RUN TRAIL ROW ACQUISITION (BOGART TO MISSION)-CARRY FORWARD $0 $168,000 $0 $0 $0 $0
PLEASANT RUN TRAIL CONSTRUCTION (BOGART TO MISSION) $0 $277,000 $0 $0 $0 $0
IMPROVEMENTS AT COTTON BELT - LD LOCKETT PARK TRAILHEAD $0 $100,000 $0 $0 $0 $0
SENIOR CENTER
REBRANDING STUDY $0 $35,000 $0 $0 $0 $0
RENOVATIONS $0 $99,905 $0 $0 $0 $0
TABLE AND CHAIR REPLACEMENTS $0 $9,000 $0 $0 $0 $0
FUTURE PRO)ECTS $0 $0 $425,000 $425,000 $425,000 $450,000
TOTAL EXPENDITURES $1,554,446 $2,401,735 $1,797,940 $1,639,289 $1,652,127 $1,707,095
EXCESS REVENUES OVER EXPENDITURES $0 $0 $0 $0 $0 $0
ADD BACK .4 TIMES BOND COVERAGE RATIO $258,635 $259,346 $257,852 $258,153 $260,167 $259,894
ENDING FUND BALANCE $1,945,474 $1,141,977 $952,523 $935,125 $920,488 $864,334
ASSUMPTIONS: FY 2013: 1/2 OF CITY SALES TAX BUDGET PROJECfION / FY 2014 - 2017: 1% GROWTH