HomeMy WebLinkAboutColleyville Economic Development Corporation (CEDC) Resolutions (R-22-163)-08/23/2022RESOLUTION R-22-163
A RESOLUTION ADOPTING THE ECONOMIC DEVELOPMENT CAPITAL
IMPROVEMENT PROGRAM (EDCIP) FOR FISCAL YEARS 2023-2027
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 5 AYES, 0 NAYS, ON THIS 23RD DAY OF AUGUST
2022.
President George Dodson Aye Vice President Kathy Wheat Aye
Director Ralph Hunkins Abs Director Callie Rigney Aye
Director Bobby Lindamood Aye Director John Terhoeve Abs
Director Scotty Richardson Aye
ATTEST:
Christine Loven, TRMC
Secretary
COLLEYVILLE ECONOMIC
DEVELOPMENT CORPORATION
or e Dodson
President
COLLEYVILLE ECONOMIC DEVELOPMENT CORPORATION Exhibit A
ECONOMIC DEVELOPMENT CAPITAL IMPROVEMENT PROGRAM FY 2023 - FY 2027
Budget Projection Projection Projection Projection Projection Projection
FISCAL YEAR 2022 2022 2023 2024 2025 2026 2027
BEGINNING FUND BALANCE $5,693,943 $5,693,943 $6,122,495 $6,006,545 $5,985,993 $5,710,643 $5,947,943
REVENUES:
PROIECTED 1/2 CENT SALES TAX REVENUE
$2,150,000
$2,455,739
$2,400,000
$2,448,000
$2,509,200
$2,565,657
$2,616,970
GRANT PROCEEDS
$225,000
$0
$225,000
$227,250
$229,523
$231,818
$234,136
INTEREST INCOME
$10,000
$15,000
$10,000
$10 500
$10 605
$10 711
$10 818
TOTAL REVENUE
$2,385,000
$2,470,739
$2,635,000
$2,685,750
$2,749,328
$2,808,186
$2,861,924
EXPENDITURES:
ADMINISTRATIVE:
$2,000
$2,000
$2,000
$2,060
$2,122
$2,185
$2,251
LOAN -BACK TO TIF`
$5,000,000
$0
$0
$0
$0
$0
$0
PARKS:
BEAUTIFICATION/LANDSCAPE SUPERVISOR &
PARKS MAINTENANCE TECH 1
$0
$0
$177,319
$183,998
$190,934
$198,688
$206,786
WATER/WASTEWATER-MC PHERSON PARK
$5,629
$1,350
$5,628
$5,684
$5,770
$5,856
$5,944
MAINTENANCE
$310,942
$322,967
$310,942
$314,051
$318,762
$323,544
$328,397
LIBRARY:
PERSONNEL
$386,642
$318,764
$408,953
$423,709
$439,003
$455,128
$471,863
OPERATIONS
$53,376
$36,251
$34,875
$36,070
$37,389
$38,766
$40,205
OFFICE EQUIPMENT/FURNITURE MAINTENANCE
$0
$0
$32,756
$33,084
$33,580
$34,084
$34,595
TECHNOLOGY- HARDWARE REPLACEMENT
$30,600
$16,000
$30,600
$30,906
$31,370
$31,840
$32,318
SENIOR CENTER:
PERSONNEL
$100,880
$105,737
$106,996
$110,990
$115,135
$119,713
$124,488
OPERATIONS
$500
$0
$500
$500
$500
$500
$500
TECHNOLOGY - HARDWARE REPLACEMENT
$3,100
$0
$3,100
$3,136
$3,191
$3,246
$3,302
COLLEYVILLE CENTER:
PERSONNEL
$136,717
$90,912
$141,268
$146,520
$151,971
$157,959
$164,200
OPERATIONS
$2,000
$0
$5,000
$5,050
$5,126
$5,203
$5,281
ADVERTISING
$45,000
$30,000
$45,000
$45,450
$46,132
$46,824
$47,526
FURNITURE REPLACEMENT
$49,000
$56,438
$0
$0
$0
$0
$0
BALL ROOM LIGHTING
$25,000
$25,000
$0
$0
$0
$0
$0
MONUMENT SIGN
$0
$0
$16,500
$0
$0
$0
$0
TECHNOLOGY -SOFTWARE 6 MAINTENANCE CONTI
$7,241
$7,000
$7,241
$7,313
$7,423
$7,534
$7,647
TECHNOLOGY - HARDWARE REPLACEMENT
$3,850
$0
$3,850
$3,889
$3,947
$4,006
$4,066
SPECIAL EVENTS:
MOVIES IN THE VILLAGE
$15,375
$15,375
$15,375
$15,375
$15,375
$15,375
$15,375
STARS & GUITARS
$95,000
$95,000
$95,000
$95,G00
$95,000
$95,000
$95,000
TREE LIGHTING /CHRISTMAS EVENT
$60,000
$60,000
$65,000
$65,000
$65,000
$65,000
$65,000
HARVEST FESTIVAL
$20,500
$20,500
$21,000
$21,000
$21,000
$21,000
$21,000
FARMERS MARKET
$10,250
$10,250
$10,000
$10,000
$10,000
$10,000
$10,000
FINE ARTS EVENT
$10,250
$10,250
$10,250
$10,250
$10,250
$10,250
$10,250
SPECIAL EVENTS
$3,625
$3,625
$10,000
$12,266
$15,700
$19 184
$22,669
TOTAL OPERATING EXPENDITURES
$6,377,476
$1,227,419
$1,559,154
$1,581,302
$1,624,677
$1,670,885
$1,718,663
EXCESS REVENUES OVER EXPENDITURES
($3,992,476)
$1,243,320
$1,075,846
$1,104,448
$1,124,650
$1,137,301
$1,143,261
CAPITAL:
SIDEWALK/TRAIL CONSTRUCTION/GRANT MATCH
$300,000
$139,616
$550,000
$100,000
$100,000
$100,000
$100,000
RESTROOM FACILITY RENOVATIONS
$75,000
$0
$150,000
$0
$0
$0
$0
SOFTBALL- SHADE STRUCTURE
$260,152
$150,152
$0
$0
$0
$0
$0
SENIOR CENTER
$500,000
$500,000
$100,000
$200,000
$0
$0
$0
KIMZEE PARK IMPROVEMENTS
$0
$0
$0
$250,000
$0
$0
$0
WOODBRViR PARK IMPROVEMENTS
$0
$0
$0
$100,000
$0
$0
$0
FIRE STATIONS 2 & 3 LANDSCAPING
$50,000
$0
$50,000
$0
$0
$0
$0
LIBRARY EQUIPMENT AND CAPITAL
$0
$0
$141,797
$0
$0
$0
$0
SAND VOLLEYBALL PUS
$0
$0
$0
$50,000
$0
$0
$0
SECURITY CAMERAS
$0
$0
$100,000
$100,000
$100,000
$0
$0
LD LOCKETT NEW AMENITY
$0
$0
$0
$200,000
$0
$0
$0
FLAGPOLE AT MCPHERSON PARK
$25,000
$25,000
$0
$0
$0
$0
$0
MCPHERSON PARK RESTROOM
50
$0
$0
$125,000
$0
$0
$0
CAPITAL PROIECTS FUNDED THROUGH EXISTING
BALANCE:
HEROES PARK
$0
$0
$100,000
$0
$1,200,000
$800,000
$0
TOTAL CAPITAL EXPENDITURES
$1,210,152
$814,768
$1,191,797
$1,125,000
$1,400,000
$900,000
$100,000
TOTAL EXPENDITURES (OPERATING & CAPITAL)
$7,587,628
$2,042,187
$2,750,951
$2,706,302
$3,024,677
$2,570,885
$1,818,663
ENDING FUND BALANCE
$491,315
$6,122,495
$6,006,545
$5,985,993
$5,710,643
$5,947,943
$6,991,205
"Initially, the CEDC had planned to loan this money to the Clty's TIF district to assist with cash0ow in the capital improvement plan, This action has not been necessary In FY22