HomeMy WebLinkAboutColleyville Economic Development Corporation (CEDC)-Agenda Packets-08/24/2021City 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 24, 2021
4:30 p.m.
City Council Chambers
Third Floor, City Hall
1.CALL TO ORDER
2.CONSENT: READING AND PUBLIC HEARING RESOLUTION R21
158
2a Approval of the minutes of the Colleyville Economic Development
Corporation Board of Directors meeting of August 25, 2020
2b Approval of the minutes of the Colleyville Economic Development
Corporation Board of Directors Worksession of August 10, 2021
3.RESOLUTION(S): READING AND PUBLIC HEARING
3a Resolution R21159
Adopting the Economic Development Capital Improvement Program
(EDCIP) for the Fiscal Years 20222026 of the Colleyville Economic
Development Corporation
3b Resolution R21160
Adopting the Fiscal Year 2022 Budget
3c Resolution R21161
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 Friday, August
20, 2021 by 5:00 p.m.
Colleyville Economic
Development Corporation Agenda August 24, 2021
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-21-158
A RESOLUTION APPROVING ACTION UNDER CONSENT ITEMS AT
THE COLLEYVILLE ECONOMIC DEVELOPMENT CORPORATION
BOARD MEETING OF AUGUST 24, 2021
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 25, 2020
b.Approval of the minutes of the Colleyville Economic
Development Corporation Board of Directors Worksession
of August 10, 2021
AND IT IS SO RESOLVED.
APPROVED BY A VOTE OF _ AYES, _ NAYS, ON THIS 24TH DAY OF AUGUST
2021.
President George Dodson Director Scotty Richardson
Vice Pres. Richard Newton Director John Terhoeve
Director Ralph Hunkins Director Kathy Wheat
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
City Hall
100 Main Street
Colleyville, Texas 76034
817. 503.1000
www.colleyville.com
Tuesday, August 25, 2020
President George Dodson called the Colleyville Economic Development Corporation
Board meeting to order on August 25, 2020, at 5:42 p.m.
ROLL CALL: President George Dodson, Vice President Richard Newton, and
Directors Ralph Hunkins, Bobby Lindamood, Mark Slosson, and Kathy Wheat, and
via Webex:John Terhoeve.
ALSO PRESENT: City Manager Jerry Ducay, Assistant City Manager Mark Wood,
Finance Director Kyle Lester, and City Secretary Christine Loven.
2.CONSENT: READING AND PUBLIC HEARING- RESOLUTION R-20-154
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
President Dodson read Resolution R-20-154 in its entirety.
President Dodson opened the public hearing at 5:44 p.m. There was no one
wishing to speak and President Dodson closed the public hearing at 5:44 p.m.
Vice President Richard Newton made a motion to approve Resolution R-
20-154, and Director Kathy Wheat 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-20-155
Adopting the Economic Development Capital Improvement Program
(EDCIP) for the Fiscal Years 2021-2025 of the Colleyville Economic
Development Corporation
President Dodson read Resolution R-20-155 in its entirety.
City of Colleyville Page 2
Colleyville Economic
Development Corporation Minutes August 25, 2020
Finance Director Kyle Lester presented this item and answered questions of the
Board.
Finance Director Kyle Lester presented items 3a and 3b together, noting the EDCIP
and the Fiscal Year 2021 Budget are interconnected. Director Lester gave an
overview of the continued Fiscal Year 2021 projects, which included staffing
movement, focus on special events, and Parks and Recreation projects.
Director Lester provided an update of the CEDC Fiscal Year 2021 Budget. He
stated that the projected revenues are 6% over budget and expenditures are
$15,000 over budget mostly due to special events. Director Lester noted that
there are personnel savings due to staffing at the library and Colleyville Senior
Center, but the largest administrative expense is the debt service which is callable
and to be paid off Fiscal Year of 2029.
President Dodson asked for the reason to retire the debt service. Director Lester
stated if the debt is retired the City will save about $650,000 in interest costs.
There was general discussion of retiring debt.
Vice President Newton asked for the reason the debt service in Fiscal Year 2021
and 2024 would decrease. Director Lester stated that the decrease is unknown,
but could look into the decline of debt service.
There was discussion of maintenance and operating costs regarding special events.
Director Lester noted there are savings from the Colleyville Center roof
replacement, and donated patio furniture, however the City park restroom facility
is over budget; the current capitol project spending is $185,000 less than
projected and should further decrease to $685,000 in Fiscal Year 2021.
President Dodson stated that the City’s finances are overall good news and in
tremendous shape.
President Dodson opened the public hearing at 5:57 p.m. There was no one
wishing to speak and President Dodson closed the public hearing at 5:58 p.m.
Director Kathy Wheat made a motion to approve Resolution R-20-155, and
Vice President Richard 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.
City of Colleyville Page 3
Colleyville Economic
Development Corporation Minutes August 25, 2020
3b Resolution R-20-156
Adopting the Fiscal Year 2021 Budget
President Dodson read Resolution R-20-156 in its entirety.
Finance Director Kyle Lester presented this item with item 3a.
President Dodson opened the public hearing at 6:01 p.m. There was no one
wishing to speak and President Dodson closed the public hearing at 6:01 p.m.
Director Mark Slosson made a motion to approve Resolution R-20-156,
and Director Ralph 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.
3c Resolution R-20-157
Electing a Colleyville Economic Development Corporation Board
President and Vice President
President Dodson read Resolution R-20-157 in its entirety.
There was no discussion.
President Dodson opened the public hearing at 6:04 p.m. There was no one
wishing to speak and President Dodson closed the public hearing at 6:04 p.m.
Director Kathy Wheat made a motion to approve Resolution R-20-157
electing President George Dodson and Vice President Richard Newton,
and Director Bobby Lindamood 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
Finance Director Kyle Lester’s presentation provided an overview of the annual
activity report, noting the half cent sales tax revenue is 6% above projected
budget while the highest debt is the debt service.
City of Colleyville Page 4
Colleyville Economic
Development Corporation Minutes August 25, 2020
Annual Investment Report
Finance Director Lester presented the annual investment report noting the account
balance, interest earned, logic line item, and certificates of deposit. He also stated
the security rates are low and the City will continue to look into reinvestments.
Director Bobby Lindamood suggested the hotel occupancy fund should stay within
the CEDC fund.
President George Dodson asked if concert funds are considered fine arts. Director
Lester stated it is probably under the promotion of the arts.
President George Dodson thanked Director Lester for his hard work.
Director Bobby Lindamood thanked the citizens for their participation.
Vice President Richard Newton asked if the board feels everything is getting done
and if the board meeting has met its purpose. All board members agreed all is
done and the meeting has met its purpose.
5.CITIZEN COMMENTS
There was no one present wishing to speak.
6.ADJOURNMENT
There being no further business before the Board, President Dodson adjourned the
meeting without objection at 6:15 p.m.
APPROVED BY A VOTE OF _ AYES, _ NAYS ON THIS THE 24TH DAY OF AUGUST
2021.
Minutes prepared by:
Angela Larson
Assistant 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 10, 2021
President George Dodson called the Colleyville Economic Development Corporation
Board Worksession to order on August 10, 2021, at 4:30 p.m.
ROLL CALL: President George Dodson, Vice President Richard Newton, and
Directors Ralph Hunkins, Bobby Lindamood, Scotty Richardson, John Terhoeve,
and Kathy Wheat.
ABSENT: Director Ralph Hunkins
Also Present: Finance Director Kyle Lester, Assistant City Manager Mark Wood,
Accounting Manager Karen Hines, and City Secretary Christine Loven
2.PRESENTATION AND DISCUSSION
2a Discussion of the FY 2022 proposed Colleyville Economic Development
Corporation (CEDC) budget and the FY 2022 - 2026 Economic
Development Capital Improvement Program (EDCIP) priorities
Finance Director Kyle Lester provided a presentation, which gave an overview of
the CEDC, highlighted 2021 projects, which included continued operations
(staffing, technology), re-aligning costs with funding sources, continuance of
moving eligible expenses through the fund, special events, and parks projects.
Director Lester also reviewed other projects being pursued that are above what is
typically budgeted, and includes an interaction with the Tax Increment Financing
District (TIF). He explained the TIF district, is a legal entity established to benefit a
specific commercial corridor of the City using that corridor’s tax dollars. Previously,
the CEDC used some bond proceeds to pay for projects that would have otherwise
been eligible to be paid for out of the TIF. As of the current fiscal year, the CEDC
owed $4.775 million in principle and $645,000 in interest on those bonds, which
were slated to extend into FY29. The total cost of TIF-eligible projects the TIF
incurred was $5.519 million, so TIF reimbursed the CEDC in the late 2020. The
CEDC used the proceeds to pay off the remainder of the bonds, savings a total of
$645,000 in interest through 2029. Director Lester noted the TIF is a large part of
the City’s cash-funded capital projects plan, and the cash-flow for this plan is
projected to be relatively tight. He stated the budget provides for the CEDC to loan
the TIF, up to $5 million to assist with that cash flow. The TIF will then pay back
the CEDC by 2026.
Director Lester provided a review of the CEDC budget line items, noting projects
planned throughout EDCIP. He stated the sales tax projections are conservative,
City of Colleyville Page 2
Colleyville Economic
Development Corporation Minutes August 10, 2021
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.
There was general discussion regarding the interaction of TIF with the CEDC,
planned projects, and the balancing of need with restricted funds.
3.ADJOURNMENT
There being no further business to discuss, President Dodson adjourned the
worksession without objection at 4:52 p.m.
APPROVED BY A VOTE OF _ AYES, _ NAYS, ON THIS THE 24TH DAY OF AUGUST
2021.
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 8/24/2021 Number Resolution R-21-159
Type Resolution
Department Finance
Title
Adopting the Economic Development Capital Improvement Program (EDCIP) for the
Fiscal Years 2022-2026 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 10, 2021, the Board met in a worksession and reviewed and discussed the
proposed projects included in the FY 2022-2026 EDCIP. The attached
resolution approves the FY 2022-2026 EDCIP.
Attachments
1.CEDC Presentation
2.EDCIP FY 2022-2026 Final
3.Resolution R-21-159
Colleyville Economic Development
Corporation (CEDC)
August 10, 2021
•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
•Continued operations (staffing, technology)
•Re-aligning costs with funding sources
–Continue to move expenses – mowing contract $260k
•Special events
–Continued focus on existing and new events
•Parks Projects
–Restroom renovations
–Landscaping / beautification
–Senior Center
–Sidewalk/trail construction/grant match
FY2021 Projects
•CEDC interaction w/TIF
–Staff w/TIF consultant concurred the CEDC Bonds ($7.33m in principle, issued in
2013) payed for TIF-eligible projects: city entrance markers, trails, senior center
related development, Colleyville Center development, Library/City Hall
development
–CEDC owed $4.775m prin. / $645k int. as of FY2021
–TIF reimbursed CEDC $5.519m in Fall of 2020; CEDC paid off bonds, $645k in
interest saved
–CEDC to loan up to $5m back in 2022 to TIF temporarily to assist with cash-funded
CIP cash-flow
–Plan is for TIF to repay by 2026
•CEDC & Colleyville Center Repairs
–Colleyville Center sustained significant water damage from winter storm
–Repairs est. at $180k, insurance reimburses $70k
–Net cost to CEDC: $110k
Other Projects
CEDC FY2022
Budget
Revenues
Sales tax - $2,150,000
Interest income - $10,000
Potential Grant Proceeds - $225,000
Total - $2,385,000
Expenditures
Operating - $1,376,250
•Library, Senior Center, Colleyville Center staff
•Technology replacements, Park maintenance
•Special events
Capital - $950,000
•Restroom renovations
•Landscaping / Beautification
•Senior Center
•Sidewalk/trail construction/grant match
Potential TIF Loan - $5,000,000
CEDC FY2022
Budget
CEDC FY2022
Budget
CEDC FY2022
Budget
COLLEYVILLE ECONOMIC DEVELOPMENT CORPORATION Exhibit A
ECONOMIC DEVELOPMENT CAPITAL IMPROVEMENT PROGRAM FY 2022 - FY 2026
Budget Projection Projection Projection Projection Projection Projection
FISCAL YEAR 2021 2021 2022 2023 2024 2025 2026
BEGINNING FUND BALANCE $4,479,889 $4,479,889 $5,539,224 $596,748 $1,207,403 $1,113,103 $1,914,825
REVENUES:
PROJECTED 1/2 CENT SALES TAX REVENUE $2,052,391 $2,237,106 $2,150,000 $2,203,750 $2,253,334 $2,298,401 $2,332,877
GRANT PROCEEDS $225,000 $0 $225,000 $0 $0 $231,818 $0
TIF TRANSFER $5,518,968 $5,518,968 $0 $0 $0 $0 $5,000,000
INSURANCE PROCEEDS $0 $70,000 $0 $0 $0 $0 $0
INTEREST INCOME $10,000 $12,000 $10,000 $10,100 $10,201 $10,303 $10,406
TOTAL REVENUE $7,806,359 $7,838,074 $2,385,000 $2,213,850 $2,263,535 $2,540,522 $7,343,283
EXPENDITURES:
ADMINISTRATIVE:$2,000 $2,000 $2,000 $2,060 $2,122 $2,185 $2,251
DEBT SERVICE $4,775,000 $4,818,166 $0 $0 $0 $0 $0
LOAN-BACK TO TIF $0 $0 $5,000,000 $0 $0 $0 $0
COMMUNICATIONS $0 $0 $45,000 $46,350 $47,741 $49,173 $50,648
PARKS:
WATER / WASTEWATER- MC PHERSON PARK $5,628 $5,878 $5,628 $5,986 $6,511 $6,917 $7,316
MAINTENANCE $50,000 $50,000 $310,942 $320,270 $337,378 $355,000 $373,150
LIBRARY:
PERSONNEL $395,467 $299,167 $386,642 $399,921 $414,758 $430,199 $439,084
OPERATIONS $33,802 $33,802 $53,376 $35,921 $39,492 $43,169 $46,957
TECHNOLOGY - HARDWARE REPLACEMENT $30,600 $30,600 $30,600 $31,518 $32,464 $33,437 $34,441
SENIOR CENTER:
PERSONNEL $96,372 $101,545 $100,880 $104,595 $109,108 $113,863 $117,180
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 $126,010 $130,295 $136,717 $140,916 $147,040 $153,498 $158,039
OPERATIONS $2,000 $1,080 $2,000 $2,060 $2,122 $2,185 $2,251
FURNITURE REPLACEMENT $0 $0 $49,000 $3,090 $3,183 $3,278 $3,377
BALL ROOM LIGHTING $0 $0 $25,000 $0 $0 $0 $0
TECHNOLOGY- SOFTWARE & MAINTENANCE CONTRACTS $7,241 $7,241 $7,241 $7,458 $7,682 $7,912 $8,150
TECHNOLOGY - HARDWARE REPLACEMENT $3,850 $3,471 $3,850 $3,966 $4,084 $4,207 $4,333
SPECIAL EVENTS:
MOVIES IN THE VILLAGE $15,000 $0 $15,375 $15,606 $15,840 $16,077 $16,318
STARS & GUITARS $60,000 119,883$ $95,000 $96,425 $97,871 $99,339 $100,830
TREE LIGHTING / CHRISTMAS EVENT $35,000 62,577$ $60,000 $60,900 $61,814 $62,741 $63,682
HAUNTED TRAILS / HARVEST FESTIVAL $20,000 $0 $20,500 $20,808 $21,120 $21,436 $21,758
FARMERS MARKET $10,000 $0 $10,250 $10,404 $10,560 $10,718 $10,879
MISCELLANEOUS $5,000 931$ $0 $0 $0 $0 $0
MEMORIAL DAY EVENT* Spent in preparation for the
event, most vendors' services pushed to Stars & Guitars
or the upcoming Harvest Festival
$15,000 31,717$ $0
FINE ARTS EVENT $10,000 $0 $10,250 $10,404 $10,560 $10,718 $10,879
FWSO CONCERT $20,000 1,810$ $0 $0
SPECIAL EVENTS $15,239 $6,792 $3,625 $5,829 $7,570 $8,810 $8,942
TOTAL OPERATING EXPENDITURES $5,736,809 $5,710,556 $6,377,476 $1,328,195 $1,382,836 $1,438,799 $1,484,515
EXCESS REVENUES OVER EXPENDITURES $2,069,550 $2,127,518 ($3,992,476)$885,655 $880,699 $1,101,722 $5,858,769
CAPITAL:
COLLEYVILLE CENTER -
FACILITY UPDATES AND REPLACEMENTS $0 $180,000 $0
SIDEWALK/TRAIL CONSTRUCTION/GRANT MATCH $300,000 $300,000 $300,000 $0 $0 $300,000 $0
RESTROOM FACILITY RENOVATIONS $0 $243,031 $75,000 $75,000 $125,000 $0 $0
KIMZEE PARK PLAYGROUND IMPROVEMENT $0 $0 $0 $100,000 $500,000 $0 $0
PARKS HOUSE DEMO $20,000 $20,000 $0 $0 $0 $0 $0
SOFTBALL - SHADE STRUCTURE W/SEATING AND PLAYGROUND$300,000 $260,152 $0 $0 $0 $0 $0
SENIOR CENTER $65,000 $65,000 $500,000 $100,000 $200,000 $0 $0
WOODBRIAR PARK IMPROVEMENTS $0 $0 $0 $0 $100,000 $0 $0
FIRE STATIONS 2 & 3 LANDSCAPING $0 $0 $50,000 $0 $0 $0 $0
SAND VOLLEYBALL PITS $0 $0 $0 $0 $50,000 $0 $0
FLAGPOLE AT MCPHERSON PARK $0 $0 $25,000 $0 $0 $0 $0
TOTAL CAPITAL EXPENDITURES $685,000 $1,068,183 $950,000 $275,000 $975,000 $300,000 $0
TOTAL EXPENDITURES (OPERATING & CAPITAL)$6,421,809 $6,778,739 $7,327,476 $1,603,195 $2,357,836 $1,738,799 $1,484,515
ENDING FUND BALANCE $5,864,439 $5,539,224 $596,748 $1,207,403 $1,113,103 $1,914,825 $7,773,593
RESERVE FOR .4 TIMES BOND COVERAGE RATIO $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
AVAILABLE ENDING FUND BALANCE $5,864,439 $5,539,224 $596,748 $1,207,403 $1,113,103 $1,914,825 $7,773,593
RESOLUTION R-21-159
A RESOLUTION ADOPTING THE ECONOMIC DEVELOPMENT CAPITAL
IMPROVEMENT PROGRAM (EDCIP) FOR FISCAL YEARS 2022-2026
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 24TH DAY OF AUGUST
2021.
President George Dodson Director Scotty Richardson
Vice Pres. Richard Newton Director John Terhoeve
Director Ralph Hunkins Director Kathy Wheat
Director Bobby Lindamood
ATTEST: COLLEYVILLE ECONOMIC
DEVELOPMENT CORPORATION
Christine Loven, TRMC George Dodson
Secretary President
COLLEYVILLE ECONOMIC DEVELOPMENT CORPORATION Exhibit A
ECONOMIC DEVELOPMENT CAPITAL IMPROVEMENT PROGRAM FY 2022 - FY 2026
Budget Projection Projection Projection Projection Projection Projection
FISCAL YEAR 2021 2021 2022 2023 2024 2025 2026
BEGINNING FUND BALANCE $4,479,889 $4,479,889 $5,539,224 $596,748 $1,207,403 $1,113,103 $1,914,825
REVENUES:
PROJECTED 1/2 CENT SALES TAX REVENUE $2,052,391 $2,237,106 $2,150,000 $2,203,750 $2,253,334 $2,298,401 $2,332,877
GRANT PROCEEDS $225,000 $0 $225,000 $0 $0 $231,818 $0
TIF TRANSFER $5,518,968 $5,518,968 $0 $0 $0 $0 $5,000,000
INSURANCE PROCEEDS $0 $70,000 $0 $0 $0 $0 $0
INTEREST INCOME $10,000 $12,000 $10,000 $10,100 $10,201 $10,303 $10,406
TOTAL REVENUE $7,806,359 $7,838,074 $2,385,000 $2,213,850 $2,263,535 $2,540,522 $7,343,283
EXPENDITURES:
ADMINISTRATIVE:$2,000 $2,000 $2,000 $2,060 $2,122 $2,185 $2,251
DEBT SERVICE $4,775,000 $4,818,166 $0 $0 $0 $0 $0
LOAN-BACK TO TIF $0 $0 $5,000,000 $0 $0 $0 $0
COMMUNICATIONS $0 $0 $45,000 $46,350 $47,741 $49,173 $50,648
PARKS:
WATER / WASTEWATER- MC PHERSON PARK $5,628 $5,878 $5,628 $5,986 $6,511 $6,917 $7,316
MAINTENANCE $50,000 $50,000 $310,942 $320,270 $337,378 $355,000 $373,150
LIBRARY:
PERSONNEL $395,467 $299,167 $386,642 $399,921 $414,758 $430,199 $439,084
OPERATIONS $33,802 $33,802 $53,376 $35,921 $39,492 $43,169 $46,957
TECHNOLOGY - HARDWARE REPLACEMENT $30,600 $30,600 $30,600 $31,518 $32,464 $33,437 $34,441
SENIOR CENTER:
PERSONNEL $96,372 $101,545 $100,880 $104,595 $109,108 $113,863 $117,180
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 $126,010 $130,295 $136,717 $140,916 $147,040 $153,498 $158,039
OPERATIONS $2,000 $1,080 $2,000 $2,060 $2,122 $2,185 $2,251
FURNITURE REPLACEMENT $0 $0 $49,000 $3,090 $3,183 $3,278 $3,377
BALL ROOM LIGHTING $0 $0 $25,000 $0 $0 $0 $0
TECHNOLOGY- SOFTWARE & MAINTENANCE CONTRACTS $7,241 $7,241 $7,241 $7,458 $7,682 $7,912 $8,150
TECHNOLOGY - HARDWARE REPLACEMENT $3,850 $3,471 $3,850 $3,966 $4,084 $4,207 $4,333
SPECIAL EVENTS:
MOVIES IN THE VILLAGE $15,000 $0 $15,375 $15,606 $15,840 $16,077 $16,318
STARS & GUITARS $60,000 119,883$ $95,000 $96,425 $97,871 $99,339 $100,830
TREE LIGHTING / CHRISTMAS EVENT $35,000 62,577$ $60,000 $60,900 $61,814 $62,741 $63,682
HAUNTED TRAILS / HARVEST FESTIVAL $20,000 $0 $20,500 $20,808 $21,120 $21,436 $21,758
FARMERS MARKET $10,000 $0 $10,250 $10,404 $10,560 $10,718 $10,879
MISCELLANEOUS $5,000 931$ $0 $0 $0 $0 $0
MEMORIAL DAY EVENT* Spent in preparation for the
event, most vendors' services pushed to Stars & Guitars
or the upcoming Harvest Festival
$15,000 31,717$ $0
FINE ARTS EVENT $10,000 $0 $10,250 $10,404 $10,560 $10,718 $10,879
FWSO CONCERT $20,000 1,810$ $0 $0
SPECIAL EVENTS $15,239 $6,792 $3,625 $5,829 $7,570 $8,810 $8,942
TOTAL OPERATING EXPENDITURES $5,736,809 $5,710,556 $6,377,476 $1,328,195 $1,382,836 $1,438,799 $1,484,515
EXCESS REVENUES OVER EXPENDITURES $2,069,550 $2,127,518 ($3,992,476)$885,655 $880,699 $1,101,722 $5,858,769
CAPITAL:
COLLEYVILLE CENTER -
FACILITY UPDATES AND REPLACEMENTS $0 $180,000 $0
SIDEWALK/TRAIL CONSTRUCTION/GRANT MATCH $300,000 $300,000 $300,000 $0 $0 $300,000 $0
RESTROOM FACILITY RENOVATIONS $0 $243,031 $75,000 $75,000 $125,000 $0 $0
KIMZEE PARK PLAYGROUND IMPROVEMENT $0 $0 $0 $100,000 $500,000 $0 $0
PARKS HOUSE DEMO $20,000 $20,000 $0 $0 $0 $0 $0
SOFTBALL - SHADE STRUCTURE W/SEATING AND PLAYGROUND$300,000 $260,152 $0 $0 $0 $0 $0
SENIOR CENTER $65,000 $65,000 $500,000 $100,000 $200,000 $0 $0
WOODBRIAR PARK IMPROVEMENTS $0 $0 $0 $0 $100,000 $0 $0
FIRE STATIONS 2 & 3 LANDSCAPING $0 $0 $50,000 $0 $0 $0 $0
SAND VOLLEYBALL PITS $0 $0 $0 $0 $50,000 $0 $0
FLAGPOLE AT MCPHERSON PARK $0 $0 $25,000 $0 $0 $0 $0
TOTAL CAPITAL EXPENDITURES $685,000 $1,068,183 $950,000 $275,000 $975,000 $300,000 $0
TOTAL EXPENDITURES (OPERATING & CAPITAL)$6,421,809 $6,778,739 $7,327,476 $1,603,195 $2,357,836 $1,738,799 $1,484,515
ENDING FUND BALANCE $5,864,439 $5,539,224 $596,748 $1,207,403 $1,113,103 $1,914,825 $7,773,593
RESERVE FOR .4 TIMES BOND COVERAGE RATIO $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
AVAILABLE ENDING FUND BALANCE $5,864,439 $5,539,224 $596,748 $1,207,403 $1,113,103 $1,914,825 $7,773,593
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 8/24/2021 Number Resolution R-21-160
Type Resolution
Department Finance
Title
Adopting the Fiscal Year 2022 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 2022 budget replicates the
FY 2022 revenues and expenditures contained in the proposed FY 2022 - 2026 EDCIP,
which was reviewed at the CEDC budget worksession on August 10, 2021. Proposed
expenditures for FY 2022 total $7,327,476 as reflected in the attached FY 2022 CEDC
Budget.
Attachments
1.Line Item Budget Final
2.Resolution R-21-160
08/19/2021 16:13 |CITY OF COLLEYVILLE |P 1
klester |NEXT YEAR BUDGET DETAIL REPORT |bgnyrpts
PROJECTION:20223 FY 2022 CEDC Budget
ACCOUNTS FOR:
C'VILLE ECONOMIC DEVELOPMENT VENDOR QUANTITY UNIT COST 2022 Proposed
0000 UNDEFINED ____________________________________________
0240000 024-0000-5301 SALES TAX 2,150,000.00
0240000 024-0000-5716 EARNED INTEREST 10,000.00
0240000 024-0000-5719 MISCELLANEOUS 225,000.00
TOTAL UNDEFINED 2,385,000.00
08/19/2021 16:13 |CITY OF COLLEYVILLE |P 2
klester |NEXT YEAR BUDGET DETAIL REPORT |bgnyrpts
PROJECTION:20223 FY 2022 CEDC Budget
ACCOUNTS FOR:
C'VILLE ECONOMIC DEVELOPMENT VENDOR QUANTITY UNIT COST 2022 Proposed
1110 ADMINISTRATION ____________________________________________
0241110 024-1110-6221 AUDIT 2,000.00
TOTAL ADMINISTRATION 2,000.00
08/19/2021 16:13 |CITY OF COLLEYVILLE |P 3
klester |NEXT YEAR BUDGET DETAIL REPORT |bgnyrpts
PROJECTION:20223 FY 2022 CEDC Budget
ACCOUNTS FOR:
C'VILLE ECONOMIC DEVELOPMENT VENDOR QUANTITY UNIT COST 2022 Proposed
1710 LIBRARY ____________________________________________
0241710 024-1710-6101 SALARIES 310,900.00
0241710 024-1710-6141 FICA EXPENSE 24,105.00
0241710 024-1710-6142- GROUP HEALTH INSURANCE 12,534.00
0241710 024-1710-6143 WORKERS' COMPENSATION 591.00
0241710 024-1710-6145 UNEMPLOYMENT COMPENSATION 2,898.00
0241710 024-1710-6146- RETIREMENT 31,075.00
0241710 024-1710-6148- LONGEVITY PAY 3,129.00
0241710 024-1710-6152- ACCRUED LEAVE PAY 1,410.00
0241710 024-1710-6226 MISC. CONTRACTUAL SERVICES 21,158.00 *
1.00 21,158.00 21,158.00
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
0241710 024-1710-6630 OFFICE EQUIPMENT/FURNITURE 18,501.00 *
1.00 18,501.00 18,501.00
AWE Early Literacy Stations and
After School Edge
TOTAL LIBRARY 470,618.00
08/19/2021 16:13 |CITY OF COLLEYVILLE |P 4
klester |NEXT YEAR BUDGET DETAIL REPORT |bgnyrpts
PROJECTION:20223 FY 2022 CEDC Budget
ACCOUNTS FOR:
C'VILLE ECONOMIC DEVELOPMENT VENDOR QUANTITY UNIT COST 2022 Proposed
3210 PARKS MAINTENANCE ____________________________________________
0243210 024-3210-6251 T.R.A. WATER 5,628.00
0243210 024-3210-6287- PROPERTY MAINTENANCE 310,942.00 *
1.00 50,000.00 50,000.00
Fire stations 2 and 3
landscaping
1.00 260,942.00 260,942.00
Mowing contract/maintenance
moved from General Fund
0243210 024-3210-6625- IMPROVEMENTS OTHER THAN BLDG 325,000.00 *
1.00 300,000.00 300,000.00
Sidewalk/Trail
Construction/Grant Match
1.00 25,000.00 25,000.00
Flagpole area at McPherson Park
TOTAL PARKS MAINTENANCE 641,570.00
08/19/2021 16:13 |CITY OF COLLEYVILLE |P 5
klester |NEXT YEAR BUDGET DETAIL REPORT |bgnyrpts
PROJECTION:20223 FY 2022 CEDC Budget
ACCOUNTS FOR:
C'VILLE ECONOMIC DEVELOPMENT VENDOR QUANTITY UNIT COST 2022 Proposed
3420 REC SENIOR CENTER ____________________________________________
0243420 024-3420-6101 SALARIES 70,900.00
0243420 024-3420-6141 FICA EXPENSE 5,732.00
0243420 024-3420-6142 GROUP HEALTH INSURANCE 12,534.00
0243420 024-3420-6143 WORKERS' COMPENSATION 109.00
0243420 024-3420-6145 UNEMPLOYMENT COMPENSATION 207.00
0243420 024-3420-6146 RETIREMENT 7,389.00
0243420 024-3420-6148 LONGEVITY PAY 743.00
0243420 024-3420-6152 ACCRUED LEAVE PAY 3,266.00
0243420 024-3420-6312- COMPUTER SUPPLIES 3,600.00
0243420 024-3420-6625- IMPROVEMENTS OTHER THAN BLDG 575,000.00 *
1.00 500,000.00 500,000.00
Senior Center Renovation
Project
1.00 75,000.00 75,000.00
Restroom facility renovations
TOTAL REC SENIOR CENTER 679,480.00
08/19/2021 16:13 |CITY OF COLLEYVILLE |P 6
klester |NEXT YEAR BUDGET DETAIL REPORT |bgnyrpts
PROJECTION:20223 FY 2022 CEDC Budget
ACCOUNTS FOR:
C'VILLE ECONOMIC DEVELOPMENT VENDOR QUANTITY UNIT COST 2022 Proposed
3610 COMMUNICATIONS ____________________________________________
0243610 024-3610-6347- SPECIAL EVENTS 215,000.00 *
1.00 15,375.00 15,375.00
Movies in the Village
1.00 95,000.00 95,000.00
Stars and Guitars
1.00 10,250.00 10,250.00
Farmers Market
1.00 3,625.00 3,625.00
Miscellaneous
1.00 60,000.00 60,000.00
Tree Lighting
1.00 20,500.00 20,500.00
Haunted Trails / Harvest
Festival
1.00 10,250.00 10,250.00
Fine Arts Event
1.00 .00 .00
Memorial Day Event
1.00 .00 .00
FWSO Concert
TOTAL COMMUNICATIONS 215,000.00
08/19/2021 16:13 |CITY OF COLLEYVILLE |P 7
klester |NEXT YEAR BUDGET DETAIL REPORT |bgnyrpts
PROJECTION:20223 FY 2022 CEDC Budget
ACCOUNTS FOR:
C'VILLE ECONOMIC DEVELOPMENT VENDOR QUANTITY UNIT COST 2022 Proposed
3710 COLLEVYILLE CENTER ____________________________________________
0243710 024-3710-6101- SALARIES 96,149.00
0243710 024-3710-6105- SALARY SAVINGS -2,034.00
0243710 024-3710-6141- FICA EXPENSE 7,778.00
0243710 024-3710-6142- GROUP HEALTH INSURANCE 17,547.00
0243710 024-3710-6143- WORKERS' COMPENSATION 295.00
0243710 024-3710-6145- UNEMPLOYMENT COMPENSATION 621.00
0243710 024-3710-6146- RETIREMENT 10,028.00
0243710 024-3710-6148- LONGEVITY PAY 1,097.00
0243710 024-3710-6152- ACCRUED LEAVE PAY 5,236.00
0243710 024-3710-6225- COMPUTER SERVICES 7,241.00 *
1.00 7,241.00 7,241.00
Colleyville Center Software and
Maintenance Contracts
0243710 024-3710-6226- MISC. CONTRACTUAL SERVICES 49,000.00 *
1.00 46,000.00 46,000.00
Replace chairs
1.00 3,000.00 3,000.00
Annual chair replacement
0243710 024-3710-6236 ADVERTISING 45,000.00
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
0243710 024-3710-6620 BUILDINGS 25,000.00 *
1.00 25,000.00 25,000.00
Colleyville Center ballroom
lighting
TOTAL COLLEVYILLE CENTER 268,808.00
TOTAL C'VILLE ECONOMIC DEVELOPMENT 4,662,476.00
GRAND TOTAL 4,662,476.00
08/19/2021 16:13 |CITY OF COLLEYVILLE |P 8
klester |NEXT YEAR BUDGET DETAIL REPORT |bgnyrpts
PROJECTION:20223 FY 2022 CEDC Budget
ACCOUNTS FOR:
C'VILLE ECONOMIC DEVELOPMENT VENDOR QUANTITY UNIT COST 2022 Proposed
** END OF REPORT - Generated by Kyle Lester **
08/19/2021 16:13 |CITY OF COLLEYVILLE |P 9
klester |NEXT YEAR BUDGET DETAIL REPORT |bgnyrpts
PROJECTION:20223 FY 2022 CEDC Budget
ACCOUNTS FOR:
C'VILLE ECONOMIC DEVELOPMENT VENDOR QUANTITY UNIT COST 2022 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:
08/19/2021 16:13 |CITY OF COLLEYVILLE |P 9
klester |NEXT YEAR BUDGET DETAIL REPORT |bgnyrpts
PROJECTION:20223 FY 2022 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
RESOLUTION R-21-160
A RESOLUTION ADOPTING AN ANNUAL BUDGET FOR
FISCAL YEAR 2022 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 2022 budget amounts for the Colleyville
Economic Development Corporation are as follows:
Total Revenues $2,385,000
Operating Expenditures $1,377,476
Capital Expenditures $ 950,000
Loan to TIF $5,000,000
Total Expenditures $7,327,476
AND IT IS SO RESOLVED.
APPROVED BY A VOTE OF _ AYES, _ NAYS, ON THIS 24TH DAY OF AUGUST
2021.
President George Dodson Director Scotty Richardson
Vice Pres. Richard Newton Director John Terhoeve
Director Ralph Hunkins Director Kathy Wheat
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 3c Agenda Date 8/24/2021 Number Resolution R-21-161
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-21-161
RESOLUTION R-21-161
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 24TH DAY OF AUGUST
2021.
President George Dodson Director Scotty Richardson
Vice Pres. Richard Newton Director John Terhoeve
Director Ralph Hunkins Director Kathy Wheat
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 8/24/2021 Number
Type Report
Department Finance
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.ANNUAL ACTIVITY REPORT of the CEDC FY21
FY 2021 ANNUAL REPORT
OF THE COLLEYVILLE ECONOMIC DEVELOPMENT CORPORATION
Accomplishments and activities for FY 2021 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 2022 budgeted sales tax revenue was $2,052,391.
Through August 2021, actual sales tax revenue is $1,767,614.
Operating Expenditure/Activities:
In FY 2021, the CEDC provided funding for the following operating expenditures and
activities.
Final debt service payoff of $4,818,166, making the CEDC debt free (paid for
through a reimbursement from TIF)
In spite of pandemic- and weather-related disruptions, the City held some
successful special events this year, including the Stars & Guitars, the Car
Show, Christmas Tree Lighting, and various concerts throughout the summer.
Funding for economic development promotional activities has provided for
marketing of City events and activities as well.
In FY 2021, 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 Colleyville Center positions.
Technology costs for the Library, Senior Center, and Colleyville Center
including software licenses, computer replacements, and network switches
Capital Expenditure/Activities:
In FY 2021, the CEDC provided funding for the following capital expenditures and
activities.
Colleyville Center Repairs – the winter storm resulted in damage to the
Colleyville Center that necessitated repairs (partially funded through an
insurance reimbursement).
Restroom Facility Renovations – completing the park restroom facility upgrade
that began in 2020
City Park – shade structures w/seating and playground improvements.
Sidewalk/Trail improvements
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 8/24/2021
Type Report
Department Finance
Title
Annual Investment Report
Explanation
As of July 31, 2021 the total funds held by the Colleyville Economic Development
Corporation equaled $5,660,925 and were allocated as follows:
•Cash $1,729,721
•Government Issues $2,902,276
•LOGIC (Local Government Investment Pool)$16.00
•Certificates of Deposit $1,028,912
The Corporation had a certificate of deposit with Spirit of Texas Bank in the par
amount of $1,025,023 that matured on 4/24/21. This CD came with an interest rate of
1.85%, for a total return of $18,963 and a maturity length of 365 days. Upon maturity,
the CEDC reinvested with Spirit of Texas Bank at the same par amount for a 548 day
return of 0.3%, which was competitive in the current market place. This investment
will mature on 10/29/2022 with a total earned interest of $4,633.19, for a 0.3% rate
of return. Currently, the average government pool rates carry returns of between 1
and 5 basis points, whereas certificates of deposit and agencies are looking more
competitive. As liquidity allows, those are the first places we will look in terms of
reinvestment opportunities.
Attachments