The URL can be used to link to this page

Home My WebLink AboutColleyville Economic Development Corporation (CEDC)-Agenda Packets-8/22/2023CITY OF COLLEYVILLE �� - COLLEYVILLE �� COLLEYVILLE ECONOMIC DEVELOPMENT CORPORATION BOARD AGENDA 100 Main Street, Colleyville, Texas, 76034 City Council Chambers TUESDAY, AUGUST 22, 2023 - 5:00 PM 1. CALL TO ORDER 2. CONSENT: READING AND PUBLIC HEARING - RESOLUTION R-23-166 2a Approval of the minutes of the Colleyville Economic Development Corporation Board of Directors meeting of August 23, 2022 2b Approval of the minutes of the Colleyville Economic Development Corporation Board of Directors Worksession of August 1, 2023 � RESOLUTION(S): READING AND PUBLIC HEARING 3a Resolution R-23-167 Adopting the Economic Development Capital Improvement Program (EDCIP) for the Fiscal Years 2024-2028 of the Colleyville Economic Development Corporation 3b Resolution R-23-168 Adopting the Fiscal Year 2024 Budget 3c Resolution R-23-169 Amending the bylaws of the Colleyville Economic Development Corporation to change the annual board meeting date to the date of the second City Council meeting in August 4. 3d Resolution R-23-170 Electing a Colleyville Economic Development Corporation Board President and Vice President REPORTS Annual Activity Report Annual Investment Report 5 ADJOURNMENT City of Colleyville Page 1 Colieyville Economic Development Corporation Board Agenda August 22, 2023 I hereby certify this agenda was posted on City Hall bulletin boards Friday, August i8, 2023, by 5:00 p.m. Christine Loven, TRMC City Secretary A quorum of any Colleyville board, commission, or committee may be present 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 817.503.1133, and reasonable accommodations will be made to assist you. City of Colleyville Page 2 RESOLUTION R-23-166 A RESOLUTION APPROVING ACTION UNDER CONSENT ITEMS AT THE COLLEYVILLE ECONOMIC DEVELOPMENT CORPORATION BOARD MEETING OF AUGUST 22, 2023 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 23, 2022 b. Approval of the minutes of the Colleyville Economic Development Corporation Board of Directors Worksession of August 1, 20Z3 AND IT IS SO RESOLVED. APPROVED BY A VOTE OF _ AYES, _ NAYS, ON THIS 22ND DAY OF AUGUST 2023. President Bobby Lindamood Director Callie Rigney Director Ralph Hunkins Director Brandi Elder Director Scotty Richardson Director John Terhoeve ATTEST: Christine Loven, TRMC Secretary COLLEYVILLE ECONOMIC DEVELOPMENT CORPORATION Bobby Lindamood President c�r�� COLLEYVILLE r� 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 23, 2022 President Dodson called the Colleyville Economic Development Corporation Board meeting to order on August 23, 2022, at 4:33 p.m. ROLL CALL: President George Dodson, Vice President Kathy Wheat, and Directors Bobby Lindamood, Scotty Richardson, and Callie Rigney. ABSENT: Directors Ralph Hunkins and John Terhoeve. Also Present: City Manager Jerry Ducay, Assistant City Manager Adrienne Lothery, Assistant City Manager Mark Wood, Finance Director Kyle Lester, and Assistant City Secretary Angela Larson. 2. CONSENT: READING AND PUBLIC HEARING- RESOLUTION R-22-162 2a Approval of the minutes of the Colleyville Economic Development Corporation Board of Directors meeting of August 24, 2021 2b Approval of the minutes of the Colleyville Economic Development Corporation Board of Directors Worksession of August 2, 2022 President Dodson read Resolution R-22-162 in its entirety. President Dodson noted a correction to be made on the CEDC Worksession of August 2, 2022 minutes, amending Director Kathy Wheat to Vice President Kathy Wheat. There were no speakers and President Dodson opened and closed the public hearing at 4:36 p.m. Vice President Wheat made a motion to approve Resolution R-22-162, with the amendment of changing Director Kathy Wheat to Vice President Kathy Wheat, seconded by Director Rigney. The motion was approved by the following vote: Ayes: 5- President Dodson, Vice President Wheat, Directors Lindamood, Richardson, and Rigney. Absent: 2- Directors Hunkins and Terhoeve. =�._. . City of Colleyvllle _... . , _. : . . , -, . _ Page i Colleyville Economic Development Corporation Minutes August 23, 2022 3. RESOLUTION(S): READING AND PUBLIC HEARING 3a Resolution R-22-163 Adopting the Economic Development Capital Improvement Program (EDCIP) for the Fiscal Years 2023-2027 of the Colleyville Economic Development Corporation President Dodson read Resolution R-22-163 in its entirety. Finance Director Kyle Lester presented this item and the FY 2023 CEDC budget as one item. Finance Director Lester provided an overview of the budget noting a request for two full time positions, and continued projects which include parks restroom renovations, Parks and Recreation beautification, Senior Center, sidewalk and trail construction, Parks design, and security. Director Lester provided a multiyear review of the CEDC budget line items, noting savings in the Library part-time positions, and expenses regarding additional positions, Colleyville Center sign, and Library equipment. He also noted the Heroes Park project's design will begin and will be fu�ly funded in FY 2025 and FY 2026. Vice President Wheat asked if there is a minimum balance the City maintains. Director Lester stated yes, the balance is for 100 days but the policy is 90 days. Director Richardson asked why the Parks fund has been decreased. City Manager Jerry Ducay stated the fund is reflecting obtainable short term projects and creating the availability of cash on hand for possible future projections. Director Richardson expressed his concerns with Kimzey Park maintenance and safety. There were no speakers and President Dodson opened and closed the public hearing at 4:50 p.m. Director Lindamood made a motion to approve Resolution R-22-163, seconded by Director Richardson. The motion was approved by the following vote: Ayes: 5— President Dodson, Vice President Wheat, Directors Lindamood, Richardson, and Rigney. Absent: 2— Directors Hunkins and Terhoeve. 3b Resolution R-22-164 Adopting the Fiscal Year 20Z3 Budget _, CiCy of Colleyvil/e _.. .. . _ ,. ._ _ _. a9e. Colleyvil�e Economic Development Corporation Minutes Au ust 23 2022 President Dodson read Resolution R-22-164 in its entirety. There was no discussion as Finance Director Kyle Lester had presented the information in conjunction with Resolution R-22-163. There were no speakers and President Dodson opened and closed the public hearing at 4:52 p.m. Director Rigney made a motion to approve Resolution R-22-164, seconded by Vice President Wheat. The motion was approved by the following vote: Ayes: 5— President Dodson, Vice President Wheat, Directors Lindamood, Richardson, and Rigney. Absent: 2— Directors Hunkins and Terhoeve. 3c Resolution R-22-165 Electing a Colleyville Economic Development Corporation Board President and Vice President President Dodson read Resolution R-22-165 in its entirety. There was no discussion. There were no speakers and President Dodson opened and closed the public hearing at 4:55 p.m. Director Rigney made a motion to approve Resolution R-22-165, electing George Dodson President, and Kathy Wheat Vice President, seconded by Director Lindamood. The motion was approved by the following vote: Ayes: 5— President Dodson, Vice President Wheat, Directors Lindamood, Richardson, and Rigney. Absent: 2— Directors Hunkins and Terhoeve. 4. REPORTS Annual Activity Report Annual Investment Report ., uM . , _- ..,.,.<.,, ... _ , . . ., -. „ .-; , _-_ , Page Colleyville Economic Development Corporation Minutes August 23, 2022 Finance Director Kyle Lester gave a high-level review of both reports as they were provided in written form in the agenda packet. 5. ADJOURNMENT There being no further business, President Dodson adjourned the meeting without objection at 5:03 p.m. APPROVED BY A VOTE OF _ AYES, _ NAYS, ON THIS THE DAY OF AUGUST 2023. Minutes taken and prepared by: Angela Larson Assistant City Secretary �r•Ira•�:i�.r.rie��:%i%t:�.,�..,. __._._ .,��:.�,[:l=�� , �� COLLEYVILLE ,� CITY OF COLLEYVILLE COLLEYVILLE ECONOMIC DEVELOPMENT CORPORATION BOARD WORKSESSION MINUTES 100 Main Street, Colleyville, Texas, 76034 Executive Conference Room - Third Floor TUESDAY, AUGUST 1, 2023 - 4:30 PM President Lindamood called the Colleyville Economic Development Corporation Board meeting to order on August 1, 2023, at 4:35 p.m. ROLL CALL: President Lindamood, and Directors Brandi Elder, Ralph Hunkins, Scotty Richardson, John Terhoeve, and Callie Rigney. Also Present: Finance Director Kyle Lester, City Manager Jerry Ducay, Assistant City Manager Adrienne Lothery, Community Engagement and Economic Development Manager Chelsea Rose, and City Secretary Christine Loven. 2. PRESENTATION AND DISCUSSION 2a Discussion of the FY 2024 proposed Colleyville Economic Development Corporation (CEDC) budget and the FY 2024 Economic Development Capital Improvement Program (EDCIP) priorities Finance Director Kyle Lester presented this item which began with an overview of the CEDC and the proposed FY24 budget. Director Lester provided a review of the CEDC budget line items, noting projects planned throughout the EDCIP. He stated the sales tax projections are conservative, although he is confident the projection will be surpassed. There was general discussion regarding the Rec Center to include staffing, approved plans, use, and signage. Security cameras at various locations throughout the City and costs associated with the cameras, landscaping projects, and the nature center were also discussed. 2b Discussion of amending the CEDC bylaws to change the board meeting date from the fourth Tuesday of August to the second City Council Meeting date in August Finance Director Kyle Lester presented the proposed CEDC bylaws amendments which included a regulatory housekeeping change to provide for removing Presentations Regarding Items Not On The Agenda, leaving only Citizen Comments, to comply with a regulatory change regarding the wording. Staff City of Colleyville Page 1 Colleyville Economic Development Corporation Board Worksession Minutes August 1, 20Z3 further proposed an amendment to allow the Board to conduct the annual meeting on the same date as the second Colleyville City Council meeting in August. The Board agreed with the recommendations and a resolution will be brought forward at the August 22, 2023 meeting. 3. ADJOURNMENT There being no further business to discuss, President Lindamood adjourned the Worksession at 4:58 p.m. APPROVED BY A VOTE OF _ AYES, _ NAYS, ON THIS THE 22ND DAY OF AUGUST 2023. Minutes taken and prepared by: ��''''"" G��`' Christine Loven, TRMC City Secretary City of Colleyville Page 2 ��,�� COLLEYVILLE � CITY OF COLLEYVILLE COLLEYVILLE ECONOMIC DEVELOPMENT CORPORATION BOARD BRIEFING Agenda Number 3a Agenda Date 8/22/2023 Number Resolution R-23-167 Type Resolution Department Finance Title Adopting the Economic Development Capital Improvement Program (EDCIP) for the Fiscal Years 2024-2028 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 1, 2023, the Board met in a worksession and reviewed and discussed the proposed projects included in the FY 2024-2028 EDCIP. The attached resolution approves the FY 2024-2028 EDCIP. Attachments 1. CEDC Presentation 2. FY24 CEDC Line Item Budget 3. RESOLUTION R-23-167 - EDCIP approval City of Colleyville Page 1 Colleyville Economic Development Corporation (CEDC) August 22, 2023 • Colleyville by voters Economic n 1996 Development Corporation approved •��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." Revenues Sales tax - $2,586,554 Interest income - $60,000 Potential Grant Proceeds - $225,000 Total - $2,871,554 Expenditures Operating - $1,990,921 • Library, Senior Center, Colleyville Center staff • Technology replacements, Park maintenance • Special events • New Rec Center Staffing Capital - $1,291,727 • Sidewalk/trail construction/grant match • Park Awning for Vehicles • Kimzee Park Improvements • Woodbriar Park Improvements • Library storage remote locker — budgeted FY23, sqentFY24 FISCAL YEAR BEGINNING FUND BALANCE REVENUES: 1/2 CENT SALES TAX REVENUE GRANTPROCEEDS INTEREST INCOME TOTALREVENUE Budget Projection Projection 2023 2023 2024 $6,480,855 $6,480,855 $6,586,515 $2,400,000 $2,617,970 $2,586,554 �zzs,000 �o �zzs,aaa $10,000 $100,000 $60,000 $2,635,000 $2,717,970 $2,871,554 � i �■ ��ri � : Major operating increase for staffing the new Recreation Center: - 3 FT Recreation Specialists (1 of which will assist with Senior Center as well) - 2 Ff Recreation Coordinators - 4 PT Recreation Coord i nators OtherIncreases: - Parks Vehicle Awning (protection) - Woodbriar/Kimzee Parks - Security Cameras (FY25) - LD Lockett Amenity (FY28) �`5 / . , �:OLL YV I.'� `�' Revences F]23 Projected F]"L4 Proposed FY25 Projected FY26 P�ojected FY27 Projected FY28 Projected SalesTa� $ 2,C17)70 $ 2,58(>,554 $ 2,638,28G $ 2,704,243 $ 2,771,549 $ 2,841,145 lmerest $ 10� 000 $ 60,000 $ 63,000 $ 63,630 $ 64,26C $ 64,909 PotentialGranlMatch $ - $ 225,000 $ 227,250 $ 22),523 $ 231,81R $ 234,13G Total Revenues $ 2,717,970 $ 2,871,554 $ 2,928,536 $ 2,997,395 $ 3,067,933 $ 3,140,190 Expenses Parks $ Recreabon $ Library $ Senior Center $ Colleyville Center � SpecialEvents $ Other Adnm�istrative $ TanlAdministrative S Capital Cosls City Park $ Heroes Park $ SeniorCen[er $ Fla�pole McPherson Park $ siaewall:s/Trails $ Fire Stalion landscaping $ Library Equipment $ s�„�,� c�� x Reslroorts $ Awnin� for Vehicles $ Woodbrilr/Kirrvee Pazk $ LD Lockell Arrenity $ TotalCapi�nl S Total Expenditures $ ats ss3 � - $ 45R,029 $ 119,426 $ 198,581 $ 226,C,25 $ 2,000 $ 1.-f20.513 S - $ 100,000 $ 100,000 $ - $ SSQ000 $ 50,000 $ 141,79'7 $ i oo,000 � iso,000 x - x _ � _ !� l.191.797 S 2,612,310 $ a��s.o2�� R 41 I,033 $ 526,913 $ 115,985 $ 157.336 $ 284,625 $ 2,000 $ 1.990.921 S - $ - $ _ g _ g SSQ000 $ - $ 185,070 $ _ $ - $ 700,000 $ 6ti,000 $ _ y; 1. dG0.070 � 3,450,991 $ sos �ns s� 434,002 $ 546,317 $ 121,80G $ 1G2.810 $ 287,471 $ 2,0G0 $ 2.0G0.-!JI S - $ - $ _ g - $ 555,500 $ - $ _ g i oo,000 x - x - $ - $ _ y 2,715,941 $ 550,791 504,870 G09,457 139,96� 180,783 300,602 2,251 2.2R$ 720 520,410 $ 456,610 $ 566,�75 $ ]27,607 $ 1G8,577 $ 291,7R3 � 2,122 $ 2,133.G85 S 535,G03 $ 480.844 $ 587,742 $ 133,788 $ 174,670 $ 296,1G0 $ 2,�xs � 2.210.992 ;5 - $ - � - - � - � - ' $ - � - - $ 12Q000 $ - 563,833 $ 572,290 $ SR0,874 - � - $ - ' $ - � - - � - � - - $ - x - - $ - $ - - � - � - - � - $ 200,000 563,839 � G92.290 �S 7R0,87-1 2,697,517 $ 2,903,282 $ 3,069,594 Revenues FP23 Pmjected FP24 Proposed FY25 Projected FY26 Projected F'Y27 Projected FY28 Projected Caprtal Costs City Park $ Heroes Park $ Senior Center $ Flagpole McPherson Park $ Sidewalks/Trails $ Frce Starion Landscapmg $ L�brary Equipment $ Seci¢iry Carrieras $ Restrooms $ Awning fur Vehicles $ Woodbnar/Kimzee Park $ LD Lockett Amenity $ To1al Capitu/ S Total Expenditures $ - $ 100,000 $ 100,000 $ - $ 550,000 $ 50,000 $ 141,797 $ 100,000 $ I50,000 $ - $ - $ - $ 1,191,797 3 2,612,310 $ - $ - $ - $ - $ 550,000 $ - $ 185,070 $ - $ - $ 100,000 $ 625,000 $ - $ 1,460,070 � 3,450,991 $ - $ - $ - $ - $ 555,500 $ - $ - $ 100,000 $ - $ - $ - $ - $ 65.i,500 � 2,715,941 $ - $ - $ - $ - $ 563,833 $ - $ - $ - $ - $ - $ - $ - $ �63,835 � 2,697,517 $ - $ - $ - $ 12Q000 $ 572,290 $ - $ - $ - $ - $ - $ - $ - $ 692.290 S, 2,903,282 $ 58Q874 200,000 78Q 87d 3,069,594 QUESTIONS / COMMENTS CITY OF COLLEYVILLE NEXT YEAR BUDGET DETAIL REPORT PROJECTION: 20243 FV 2024 CEDC Bu et CCOUNTS FOR: C�VILLE ECONOMIC DEVELOPMENT VENDOR QUANTITY UNIT COST 2024 Pr0 Osed 1111 � � 0240000 024-0000-5301 SALES TAX 0240000 024-0000-5716 INVESTMENT INCOME/(LOSSES) 0240000 024-0000-5719 MISCELLANEOUS 2,586,554.50 60,000.00 225,000.00 TOTAL UNDEFINED 2,871,554.50 aeporc gencraceA: OA/11/zoz3 11:19 usen klester vro9ram io: bgnyrpts Pa9e 1 CITY OF COLLEYVILLE NEXT YEAR BUDGET DETAIL REPORT • ; a � e� .,c �. � ?>oJ."�:F""�'.`�:fdeb�C'�'Ci3�7�IR _ _:.. . �. �<: � .. =---- -- 0241110 02�-L10 6221 nUOI7 z.000.00 � ",-_.,,TOTAL.`-ADMTNPSTRATION .". .. ._ . . . � 2, 0 .0 aeport qenerated: OF/ll/2023 11:19 uso�: ktesce� vrogram To: bqnyrpts Page 2 CITY OF COLLEYVILLE NEXT YEAR BUDGET DETAIL REPORT �� • c � ^. a,:�,. � �B B o . mw -.o ��, -_. �:.,,'v/� � � _ ` o vY�?Ka"..; � � ." . � � • • � 1 • . • _.._______�......._'__—_—'--_ _____._'.__-_- 02hll10 024-ll10-6101 sn�nries 336,161.4G 0241710 024-1710-G141 FSCa [xPENSE 26,299.33 0241710 024-ll10-6142- GROUP HEALTH INSURANCE 14,368.59 0241710 024-ll10-6143 WORKERS' COMPENSATION 643.10 0241710 024-1710-6145 UNEMPLOVMENT COMPENSATION 2,898.00 0241710 024-1710-6146- RETIREMEN7 35,950.83 0241710 024-1710-6148- LONGEVITY PAY 3,627.50 0241710 024-1710-6152- ACCRUED LEAVE PAY 2,620.56 0241710 024-1710-6226 MISG CONTRAGTUAL SERVICES Z7�ZJp,pp ^ 1.00 27,270.00 27,270.00 0241710 0244710-6303 OPERATING SUPPLIES 02hll10 024-1710-6312 COMPUTER SUPPLIES roner for printers at the Library 0241710 024-1710-6360 MINOR OPERATING OUTLAY oesktops and ¢attery aackups at the library 0241710 024-1710-6630 OFFICE EQUIPMENT/FURNITURE nutomated Materials h'andling System - start up cost; increased by S10k for FY24 (hOldOver from FY23) �utomated Materials Handlinq System - annual maintenance cost �ibrary Remote �od<er maintenance �ibrary remote lod<er; bud�Oeted originally in Fv2i but won t be spent until Fv24; upped the cost to $SOk per 7erry 1.00 3,000.00 1.00 U,600.00 1.00 135,070.00 1.00 30,136.00 1.00 2,620.00 1.00 50,000.00 13,717.00 3,000.00 ' 3,000.00 27,600.00 '� 27,600.00 217,826.00 ° 135,070.00 30,136.00 2,620.00 50,000.00 aeport generated: OB/ll/2023 1].:19 uscr: I<lester Page 3 vrogram in: bgnyrpts CITY OF COLLEYVILLE NEXT YEAR BUDGET DETAIL REPORT PROJECTION: 20243 FY 2024 CEDC Bu et CCOUNTS FOR: C'VI�LE ECONOMIC DEVELOPMENT VENDOR QUANTITY UNZT COST 2024 Pro osed ��TOTAL LIBRARY 711,982.67 acport gencra[ed: os/ll/zoz3 11:19 user: klcster Pag2 Prograni io: bgnyrpts . ;,.., -. �.. CITY OF COLLEYVILLE NEXT YEAR BUDGET DETAIL REPORT . ;ra .—c^.as.�, � r.,e�>,?+,�i 3 > e' ��+�� y}9,��'�/� �a��, ��'�__' il� s 8'Z�I�� 0..�.., ��' � • � •�• 02�>210 02h 3270 610�_- sn�A�ies 124,569.47 0243210 024-;210-61a1- Fxcn [xPeNse 9,529.91 0243210 024-3210-6142- GROUP HEALTH INSURANCE 28,737.18 0243210 024-3210-6143- WORI(ERS� COMPENSATION 180.70 0243210 024-3210-6145- UNEMPLOYMENT COMPENSATION 414.00 0243210 024-3210-6146- RETIREMENT 13,027.51 0243210 024-3210-6251 7.R.a. waTER 5,G28.00 0243210 024-3210-6287- PROPERTV MAINTENANCE 310,942.00 " Fire stations 2 and 3 landscaping 1.00 50,000.00 50,000.00 Mowing contract/maintenance moved from 1.00 260,942.00 26Q 942.00 General Fund 0243210 024-3210-6625- IMPROVEMENTS OTHER THAN BLDG Sidewalk/Trail construttion/�rant Match; increased to $SSOk in Fv23 Restroom facility renovations; renioved for Fv24 Fire stations 2& 3 landscaping; removed for Fv24 Security Cameras; removed for FY24 Heroes Park Design; removed for FY24 woodbriar Park improvements i<imzey Park improvements Parks awning for vehicles 1.00 .00 00 00 .00 1.00 1.00 1.00 550,000.00 150,000.00 50,000.00 100,000.00 100,000.00 200,000.00 425,000.00 100,000.00 1,275,000.00 �� 550,000.00 00 00 .00 .00 200,000.00 425,000.00 100.000.00 — "TOTAL PARKS MAINTENANCE ' � �� 1,768,028.77 aeport qeneraced: OS/11/2023 11:19 uscr: klescer Pa9e S vro9ram io: b9nyrpts CITY OF COLLEYVILLE . '�;�ce.... NEXT YEAR BUDGET DETAIL REPORT ' o;,,. c';;o,.:�'910.. . 0 �e 0 ��i� f� A B) .. r ��u� nar ��U BCK � '..:�_:. �� 1 .� 0243410 024-3410-G101- SnLarirS ---- 293,217.00 024;410 024-3410-61h1- FIU [XP�NSE 22,431.10 02h3410 024-3410-6142 GrzOUP Hen�rfi iNsukaNCe 68,937.00 0243410 024-3410-6143- WORKERS' COMPENSATION 440.00 0243410 024-3410-6145- UNEMPLOVMENT COMPENSATION 2,430.00 0243410 024-3410-6146- RE7iREMENT 23.577.92 TOTAL RECREATION � - � � 4 .0 neoo��c gcoeraced: oa/i�/zoza ai:i� aage 6 user: klester P�ograni ID: bgny�pTs CITY OF COLLEYVILLE NEXT YEAR BUDGET DETAIL REPORT .:.e--�, .—,��:--�,.�.-----=�,>s...:� = o ,: .. O .i 6 ��9 wk Ze.�a�.� �¢"�A �yo.��.� ��• � • 1 •• -�_ . . - .. _ .__..._.___""_"___ 02S>420 024 i420 G10! SnInFICS 78,092.11 0243420 024-3420-6141 FICa CxPENS[ 6,328.85 0243420 024-3h20-6142 GROUP HEALTH INSURANCE 14,368.59 0243420 024-3420-6143 WORKERS' COMPENSATION 120.01 0243420 024-3420-6145 UNEMPLOVMENT COMPENSATION 207.00 02h3420 024-3420-6146 RETIREMENT 8,65L 26 0243420 024-3420-6148 �oNceviTv anv 1,013.00 0243420 024-3420-6152 ACCRUED LEAVE PAY 3,604.25 0243420 024-3420-6312- COMP�TER SUPPLIES 3.600.00 TOTAL REC SENIOR CENTER 115, 5. 7 aeporc generated: OR/11/2023 11:19 user: I<Icstcr vrograni io: bqnyrpss Page 7 COLLEYVILLE ; j��. ,�.,�r-ms a -... � m� ,�, ��.Y�i's'x - s�"Y'i;`IE. e��[ xeY•�^ ��• •. � 1• ..11..y,_._..... f:.-�,. _ .�_-_'_ _. __.__.:�. _ ._� -__._"__c__ _'_'__'—_ 024,67.0 024-�610-6347- SPEciaL EVEnTs 254,625.00 '� 5[ars and �uita,s 1.00 160,000.00 160,000.00 Miscellaneous 1.00 3,625.00 3,625.00 Tree �ighting 1.00 100,000.00 100,000.00 Harvest Festival 1.00 21,000.00 21,000.00 TOTAL COMMUNICATIONS 284,625.00 aeporc generaced: OR/11/2023 11:19 user: klesccr Pa9e Proqram io: bqnyrpts NEXT YEAR BUDGET DETAIL REPORT CITY OF COLLEYVILLE NEXT YEAR BUDGET DETAIL REPORT PROJECTION: 20243 FY,'� 0 aCED6iBU gEUa:�.._;.,�._ 0243710 0243710 0243710 0243710 0243710 0243710 0243710 0243710 0243710 024-3710-6101- Sn�,ar.i[5 024-3710-G141- Ficn �xP�Nse 024-3710-G142- GROUP HEALTH INSURANCE 024-3710-G143- WORKERS� COMPENSATION 024-3710-6145- UNEMPLOYMENT GOMPENSnTION 024-3710-6146- RETIREMENT 024-3710-6148- LONGEVITY PAY 024-3710-6152- FlCCRUED LEnVG PAV 024-3710-6225- COMPUTER SERVICES colleyville Center software and MaintenanCB COntfdCts 1.00 7,241.00 1.00 4.450.00 69,054.22 5,544.36 11,494.87 210.25 414.00 7,578.07 417.00 1,532.42 7,241.00 " 7,241.00 0243710 024-3710-6236 ADVERTISING 0243710 024-3710-6360- MINOR OPERATING OUTLAV Laptop replacement 0243710 024-i710-G645- OPERATING EQUIPMENT nnnual Chair Replacement 1.00 4,400.00 45.000.00 4,450.00 " 4,450.00 4,400.00 " 4,400.00 TOTAL COLLEWILLE CENTER 157,336.19 TOTAL C'VILLE ECONOMIC DEVELOPMENT 6,322,545.22 GRAND TOTAL 6,322,545.22 � � �� n��o�c y��c�acoa: os/iz/zoza i�:t� us��: k��sxe� Page 9 aro9ram im bgnyrpts CITY OF COLLEYVILLE NEXT YEAR BUDGET DETAIL REPORT � PRO7ECfION: 20243 FY 2024 CEDC Budget -�� sequence 1 1 Sequence 2 2 Sequence 3 0 Sequence 4 0 Report title: 08/11/2023 11:19 klester Y Y V V N N N N CITY OF COLLEYVILLE NEXT VEAR BUDGET DETAIL REPORT PRO7KTION: 20243 FY 2024 CEDC Eudget R2p01't TypE: Include employee with benefit detail: eudqet level: cercentage chanqe calculation method: Print detail line5: Print first or second year of budget requests Prini revenue as credit: include cfwd in rev bud: include cfwd in actuals: Print totals only: include segment code: include report grand totals by account type: Print full �� account: oouble space: 5uppress zero bdgt accts: Print as worksheet: Print percent change or comment: Print text: amounts/totals exceed 999 million dollars: Print five budget levels: Report view: Find criteria Field Name Field value Org object PrOjeCt account type ACCount statu5 3 N 1 a F N N N N N N v N V N C N N N D 4 IP Ibgnyrp FOR PERIOD 99 aeparc 9enerated: OS/11/202: 11:19 PdgE 10 user klesmr vrograin m: bgnyrpu RESOLUTION R-23-167 A RESOWTION ADOPTING THE ECONOMIC DEVELOPMENT CAPITAL IMPROVEMENT PROGRAM (EDCIP) FOR FISCAL YEARS 2024-2028 WHEREAS, the bylaws of the Colleyvil�e 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 Sec. 3 THAT once approved, the EDCIP will be forwarded to the City Council for their subsequent approval. THAT this Resolution shall become effective on the date of passage. AND IT IS SO RESOLVED. APPROVED BY A VOTE OF 2023. President Bobby Lindamood Director Callie Rigney Director Ralph Hunkins ATTEST: Christine Loven, TRMC Secretary AYES, NAYS, ON THIS ZZND DAY OF AUGUST Director Brandi Elder Director Scotty Richardson Director John Terhoeve COLLEYVILLE ECONOMIC DEVELOPMENT CORPORATION Bobby Lindamood President EXHIBIT A COLLEYVILLE ECONOMIC DEVELOPMENT CORPORATION ECONOMIC DEVELOPMENT BUDGET & CAPITAL IMPROVEMENT PROGRAM FY 2024 - FY 2028 Butlge[ Pmjection Pmjection Pmjection Pmjection Projec[ion Pmjection qSCALVEAR 2023 2023 2024 2025 2026 20U 2028 BEGINNING FUND eAIANCE g6,980,855 §6,480,855 $6,586,515 $6,00�,0]9 ;6,219,6]4 $6,519,552 $6,684,203 REVENUES: 1/2CENTSALESTAXREVENUE g2,q00,000 $2,6ll,9)0 32,586,554 $2,638,286 $2,]09,243 $2,)]1,849 $2,841,195 GRANT PROCEWS SZZ5,000 $0 SZZ5,000 $22),250 $229,523 5231,818 $239,136 INTERESTINCOME E30,000 $ID0,000 $60,000 563,000 563,630 $64,266 564,909 TOTHLREVENUE g2,635,000 EZ,11J,9J0 EZ,W1,559 §2,926,536 $2,99J,395 53,O6J,933 §3,140,190 EXPENDITURES: AOMM[STRATNB PARKS: BEAUTIF[CATION/lANDSCAPF SUPERV1500. & PARKS MAINTENANCE TECH 1 WATER / WASTEWATER- MC PHERSON PARK TECHNOLOGY-HAROWAREftEPLACEMENT MAINTENANCE RECREATION: PERSONNEI LIBRARV: PERSONNEL OPERATfONS OFFICE EQUIPMENT/FURNITURE MqINTENqNCE TECHNOIOGY-HARDWA0.EREPLACEMEPoT SENIOR CENTER: PERSONNEL OPERATIONS TECHNOLOGY - HAROWARE REPIACEPIENT COILEYVILLE CENTER: PEft50NNEL OPERATIONS ADVERTISING MONUMENT SIGN TECHNOLOGY- SOFf4VARE & FiA1NTENANCE CONTR TECHNOLOGY - HARDWARE REPIACEMENT SPECIAL EVENTS: MOVIES M THE VILLAGE STARS & GUITARS T0.EE LIGHTING / CHR6TFIA5 EVENT HA0.VEST FESTNAL FAftMERS MARKET FINE ARTS EVENT SPEGIALEVENTS TOTAL OPERATING EXPENDITURES E%CE55 REVENUES OVER E%PENDITURES CAPITAL: SIDEWALK/T(1AIL CONSTRUCTION/GRANT P1/TCH RESTROOM FACILITY RENOVFTIONS SENIOR CENTER AWNING: PARKS VEHICLES KIM1IZEE PARK IMPROVEh1ENT5 WOODBftIA0. PARK IAIPROVEMENTS FIftE STATIONS 2 & 3lAND5CAPiNG LIBRARV EQUIPMENT AND CAPITAL SENR�TY [AnIERAs NEW PARKAMENITY DREDGING OF NATURE CENTE0. GON�S HEROES PARK TOTAL CAPITALEXPENDITURES TOTAL EXPENDITURES(OVERATING � CAPITAL) USE OF FUND BALANCE ON CAGITAL PRO]ECTS/(ADDITIONS TO FUND BALANCE) ENUING FUND BALANCE F6,364,904 56,586,515 $6,a0J,Ol9 56,219,6J4 $6,519,552 $6�684,203 56,]54�J99 $2,000 $2,000 $2,000 $2,060 $2,122 $2,185 $2,251 $1)),319 55,628 5310,942 $0 5408,953 S3a,815 $32,]56 $30,600 $106,996 ssoo g3,100 5141,268 $5,000 $45,000 516,500 $J,291 $3,850 $103,351 E1)6,459 $186,239 E195,8]8 5206,203 $2t6,451 $1,560 $5,628 $5,689 $5,��0 $5,856 55,999 5310,942 5310,902 $314,051 $3t8,)62 5323,544 $328,39� $0 5411,033 $934,002 5a56,610 $980,644 5509,8)0 $3]9,]53 $922,5)0 $439,840 $49,499 $9J5,9J) $494,911 514,920 $40,98� S4Z,488 $44,12] $95,841 $9],634 532,�56 $32,156 $33,084 $33,580 534,084 $34,595 $30,600 $30,600 $30,906 $31,3J0 531,840 E3I,318 $119,426 5112,385 so gsoo 50 $3,100 5141,268 §96,245 ;5,000 $4,400 EZ4,1Z1 595,000 $16,W0 $0 $J,291 $J,241 $3,850 54,950 E118,1]0 $123,91] Ssao ;Soo $3,136 53,191 $101,108 $105,950 $4,499 $4,511 $45,450 $46,132 50 $0 $�,313 $],423 $4,995 $9,562 5130,042 $136,163 gsoo gsoo $3,296 $3,302 $111,103 5116,262 59,5]8 $9,64] 596,824 $9],526 50 $0 $],534 5],69] §4,630 $4,]00 Ets,3]s gts,3]s Eo $o So Ao go $95,000 $95,000 $160,000 $161,600 $164,W4 $166,984 $168,962 $65,000 565,00� $100,000 $101,000 $102,515 ;104,053 $105,614 521,000 §21,000 $21,000 521,210 521,528 $21,851 SZZ,1]9 Sio,000 $io,o00 $o $0 go 3o bo 510,250 $10,250 $0 50 $0 50 $0 $50,000 $10,000 53,625 53,661 $3,�16 $3,JJ2 $3,828 $1,559,154 $Sp20,513 $1,990,921 $2,060,491 $2,133,685 52,210,992 $2,288,R0 $1,OJ5,846 51,29J,95J 5680,630 5868,094 5863,�10 5856,941 5g51,9)0 $550,000 $150,000 5100,000 $0 50 so 550,000 5191,J9J $100,000 $0 50 sioo,000 ;1�191,19] ;2,]50,953 $550,000 g150,000 sioo,000 $0 50 so $50,000 5141,�9� 5100,�00 bo q0 siao,aao $1,191�]9] ;2,612,310 5550,000 $0 so S10D,040 $425,000 szao,oaa $0 $185,0)0 $0 go so so 51,460�0]0 53,450,991 ssss,soo ba so 50 SO so FO so 5100,000 go so go $655,500 $2,)15,941 $563,833 Sa so $0 So so $0 so 50 50 so so 5563,833 52,691,51) $5]2,290 go ;o $0 so So $0 sa SO go sizo,000 So ;692,290 52,903,282 $580,8]4 Sa Ba $0 so So $0 so 50 g2oo,o00 so 50 5�80,8)4 $3,069,594 ��r� COLLEYVILLE ?� Agenda Number 3b Type Resolution Department Finance Agenda Date 8/22/2023 Number Resolution R-23-168 Title Adopting the Fiscal Year ZOZ4 Budget Explanation Reading and Public Hearing Per the Colleyville Economic Development Corporation (CEDC) bylaws, the Board of Directors must adopt an annual budget. The FY 2024 budget replicates the revenues and expenditures contained in the proposed FY 2024 - 2028 EDCIP, which was reviewed at the CEDC budget worksession on August 1, 2023. Proposed expenditures for FY 2024 total $3,450,991 as reflected in the attached FY 2024 CEDC Budget. Attachments 1. CEDC Presentation 2. RESOLUTION R-23-168 - Budget approval CITY OF COLLEYVILLE COLLEYVILLE ECONOMIC DEVELOPMENT CORPORATION BOARD BRIEFING City of Colleyville Page 1 Colleyville Economic Development Corporation (CEDC) August 22, 2023 • Coileyville by vote rs Economic � 1996 Development Corporation approved •"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." Revenues Sales tax - $2,586,554 Interest income - $60,000 Potential Grant Proceeds - $225,000 Total - $2,871,554 Expenditures Operating - $1,990,921 • Library, Senior Center, Colleyville Center staff • Technology replacements, Park maintenance • Special events • New Rec Center Staffing Capital - $1,291,727 • Sidewalk/trail construction/grant match • Park Awning for Vehicles • Kimzee Park Improvements • Woodbriar Park Improvements • Library storage remote locker - budgeted FY23R sqentFY24 FISCAL YEAR BEGINNING FUND BALANCE REVENUES: 1/2 CENT SALES TAX REVENUE GRANTPROCEEDS INTEREST INCOME TOTALREVENUE Budget Projection Projection 2023 2023 2024 $6,480,855 $2,400,000 �zzs,000 $6,a80,855 $6,586,515 $2,617,970 $2,586,554 �o �zzs,aoo $50,000 $100,000 $60,000 $2,635,000 $2,717,970 $2,871,554 � i N ��r.� � : Major operating increase for staffing the new Recreation Center: - 3 FT Recreation Specialists (1 of which will assist with Senior Center as well) - 2 FT Recreation Coordinators - 4 PT Recreation Coordinators OtherIncreases: - Parks Vehicle Awning (protection) - Woodbriar/Kimzee Parks - Security Cameras (FY25) - LD Lockett Amenity (FY28) ` i �_ ___._. . ��N),o-?" ; .'�. . �`nr£ :r. . \..VL.J..�l VlA-/I.L.� / . � Su� J➢"�� 3a� . �yH .'. i�i �. . Revenues F]"23 Projected FY24 Proposed FY25 Projected FY2G Pmjected FY27 Projected FY28 Projected � SalesTa� $ 2,G17,970 $ 2,586,554 $ 2,638,28G $ 2,704,243 $ 2,771,849 $ 2,841,145 �IMerest $ 100,000 $ 60,000 $ 63,000 $ 63,630 $ 64,266 $ 64,909 Poten[ialGrantMatch $ $ 225,000 $ 227,250 $ 229,523 $ 231,81R $ 234,736 Total Revenues $ 2,717,970 $ 2,877,554 $ 2,928,536 $ 2,997,395 $ 3,067,933 $ 3,140,190 Ezpenses Parks 5� Recreation $ Library $ Senior Center $ ColleyvJle Center $ SpecialEvents $ Other Adrt�istra�ve $ 'lo�a/Administra�ive �S Capiial Costs City Pazk $ Heroes Park $ SeniorCenter $ Fla�pole McPherson Park $ Sidewalks�I'rails $ Fire Sta6on Landscapina $ Library Eqttiprrent $ Security Carreras $ Restroorrs $ Awning for Vehicles $ Woodbriar/Kirrv.ee Park $ LD Lockett Amenity $ Tota/ Cnpi[al 8 Total Expenditures $ ais,xs3 � - $ 458,029 $ 119,42G $ 198,581 $ 226,625 $ 2,000 $ 1.-l20,�13 S - $ � oo.000 x 100,000 $ _ � 550,000 $ 50.000 $ iai;�� $ 100.000 $ 150,000 $ - $ _ $ _ � 1,191,797 S 2,612,310 $ a<�s.oz�� 411,033 $ 526,913 $ 115,985 $ 157,336 $ 284,625 $ 2,000 $ 1,990.921 S _ $ _ � _ g _ g sso,000 � - P, 185,070 $ _ !� _ $ 100,000 $ G25,000 $ _ � 1.460.070 ,fi 3,450,991 $ sos,�ns � 434,002 $ 546,317 $ 121,806 $ 162.8I0 $ 287,471 $ 2,0G0 $ 2.OGO.d41 $ _ g - � _ $ - x 555,500 $ - x _ $ 700,000 $ - $ - $ - $ - $ G�SS00 S 2,715,941 $ szo,aio x 456,610 $ 566,575 $ 127,G07 $ 168,577 $ 291,7R3 $ 2,122 $ z.is�,r�s s - $ _ � _ $ _ � 563,R33 $ - $ _ $ _ $ - $ _ R _ g - $ 5G3,R33 S 2,697,517 S 535,603 $ 480,844 $ 587,742 $ 133,78A $ 174,G70 $ 296,160 $ 2,ixs x 2.210.992 $ - $ - � _ � �zo,000 � 572.290 $ _ $ _ $ - $ - $ _ $ _ g - $ 692, 290 S 2,903,282 $ 550,791 504.R70 G09,457 739,)65 18Q783 30QG02 z,zs � 2,1R8J20 SR0,874 200,000 7R0, R7�1 3,069,594 Revenues Capital Costs City Park Heroes Park Senior Center Flagpole McPherson Park SidewaDcs/Trails Frce Station Landscapmg Library Equipment Secirtity Cuneras Restrooms Awning fur Vehicles Woodbriar/Kunzee Park LD Lockett Amenity Total Capita! Total Expenditures FP23 Projected F1'24 Proposed F1'25 Projected FY26 Projected FY27 Projected FY28 Projected $ - $ - $ - $ - $ - $ - $ 100,000 $ - $ - $ - $ - $ - $ 100,000 $ - $ - $ _ $ _ $ _ $ - $ - $ - $ - $ 120,000 $ - $ 550,000 $ 550,000 $ 555,500 $ 563,833 $ 572,290 $ 580,874 $ SQ000 $ - $ - $ - $ - $ - $ 141,797 $ 185,070 $ - $ - $ _ $ _ $ 100,000 $ - $ 100,000 $ - $ - $ - $ 15Q000 $ - $ - $ - $ - $ - $ - $ 100,000 $ - $ - $ _ $ _ $ - $ 625,000 $ - $ - $ _ $ _ $ - $ - $ - $ - $ - $ 20Q000 5 /,l91,797 $ 1,4G0,070 �' (55,500 S 563,833 � 692,290 �S 780,87� � 2,612,310 $ 3,450,991 $ 2,715,941 $ 2,697,517 $ 2,903,282 $ 3,069,594 r i� � r� . t°''�d�.a' x « DC Overview °�' �� • F�� QUESTIONS / COMMENTS RESOLUTION R-23-168 A RESOLUTION ADOPTING AN ANNUAL BUDGET FOR FISCAL YEAR 2024 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 2024 budget amounts for the Colleyville Economic Development Corporation are as follows: Total Revenues Operating Expenditures Capital Expenditures TotalExpenditures AND IT IS SO RESOLVED. APPROVED BY A VOTE OF 2023. President Bobby Lindamood Director Callie Rigney Director Ralph Hunkins ATTEST: Christine Loven, TRMC Secretary $2,871,554 $1,990,921 $1,460,070 $3,450,991 AYES, NAYS, ON THIS 22ND DAY OF AUGUST Director Brandi Elder Director Scotty Richardson Director John Terhoeve COLLEYVILLE ECONOMIC DEVELOPMENT CORPORATION Bobby Lindamood President �,�� COLLEYVILLE � Agenda Number 3c Type Resolution Denartment Citv Se Agenda Date 8/22/2023 Number Resolution R-23-169 Title Amending the bylaws of the Colleyville Economic Development Corporation to change the annual board meeting date to the date of the second City Council meeting in August Explanation Reading and Public Hearing Approval of the proposed resolution will provide for amending the Colleyville Economic Development Corporation bylaws to change the annual meeting to occur the same date as the second Colleyville City Council meeting in August. This change would eliminate the Board being convened for an additional evening meeting outside of the City Council's regular meeting schedule. Additionally, a regulatory housekeeping change which will remove Presentations Regarding Items Not On The Agenda, leaving only Citizen Comments, will be reflected. Attachments 1. CEDC Redlined proosed Bylaws Amendment 2. Resolution R-23-169 CITY OF COLLEYVILLE COLLEYVILLE ECONOMIC DEVELOPMENT CORPORATION BOARD BRIEFING City of Colleyville Page 1 CEDC Proposed Bylaws Amendment SECTION 1. MEETINGS OF DIRECTORS. For meetings of the Board, notice thereof shall be provided and set forth in accordance with the Texas Open Meetings Act, Chapter 551 of the Texas Local Government Code. Any member of the Board, officers of the Corporation, or Mayor, may have an item placed on the agenda by delivering the same in writing to the Secretary of the Board no less than three (3) calendar days prior to the date of the Board meeting. Each agenda of a Board meeting shall contain an item, titled "Citizen Comments �o r t o ,�� Tr ,�� O^�"�Ager�da"; to allow public comment to be made by the general public concerning Board related matters. However, no official or formal action or vote may be taken on any comment made by citizens during Citizens Comments. The annual meeting of the Board shall be ^^ +"� f^ r+h T o�,�=" �on the same date as the second Colleyville City Council meetinq in August of each year. The Board shall hold regular, worksession, and special meetings, in the corporate limits of the City, at such place or places as the Board may from time to time determine, and in conformance with the Texas Open Meetings Act. Meeting agenda packets will be available to the public on the City's website, and will be distributed to each member 72 hours prior to a meeting. RESOLUTION R-23-169 A RESOLUTION AMENDING THE BYLAWS OF THE COLLEYVILLE ECONOMIC DEVELOPMENT CORPORATION BOARD WHEREAS, the Bylaws of the Colleyville Economic Development Corporation Section 3. Meetings of the Directors state "Each agenda of a Board meeting shall contain an item, titled "Citizen Comments/Presentations Regarding Items Not On the Agenda" and the bylaws further read, the annual meeting of the Board shall be on the fourth Tuesday of August of each year"; and WHEREAS, the Board of Directors of the Colleyville Economic Development Corporation believe it is in the best interest of the Board to amend Section 3. of the Bylaws. NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE COLLEYVILLE ECONOMIC DEVELOPMENT CORPORATION: Sec. 1. THAT the Bylaws of the Colleyville Economic Development Corporation Section 3. Meetings of the Directors are amended to read: "Each agenda of a Board meeting shall contain an item, titled "Citizen Comments"; and the annual meeting of the Board is amended to read: "The annual meeting of the Board shall be on the same date as the second Colleyville City Council meeting in August of each year" AND IT IS SO RESOLVED. APPROVED BY A VOTE OF _ AYES, _ NAYS, ON THIS 22"� DAY OF AUGUST 2023. President Bobby Lindamood Director Callie Rigney Director Ralph Hunkins Director Brandi Elder Director Scotty Richardson Director John Terhoeve ATTEST: Christine Loven, TRMC Secretary COLLEYVILLE ECONOMIC DEVELOPMENT CORPORATION Bobby Lindamood President c "� COLLEYVILLE � CITY OF COLLEYVILLE COLLEYVILLE ECONOMIC DEVELOPMENT CORPORATION BOARD BRIEFING Agenda Number 3d Agenda Date 8/22/2023 Number Resolution R-23-170 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-23-170 City of Colleyville Page 1 RESOLUTION R-23-170 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 Sec. 2 THAT Director is elected to serve as President of the Colleyville Economic Development Corporation. 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 22ND DAY OF AUGUST 2023. President Bobby Lindamood Director Callie Rigney Director Ralph Hunkins ATTEST: Christine Loven, TRMC Secretary Director Brandi Elder Director Scotty Richardson Director John Terhoeve COLLEYVILLE ECONOMIC DEVELOPMENT CORPORATION Bobby Lindamood President c�� COLLEYVILLE �� Agenda Number Type Report Department Finance Title Annual Activity Report CITY OF COLLEYVILLE COLLEYVILLE ECONOMIC DEVELOPMENT CORPORATION BOARD BRIEFING Agenda Date 8/22/2023 Number 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 Report Presentation 2. CEDC Annual Activity Report City of Colleyville Page 1 Colleyville Economic Development Corporation (CEDC) August 22, 2023 • Revenues Above Budget — Sales tax projected 9% above budget, �$200,000 (FY23 budget was held low) • Debt Paid Off in Previous Years — CEDC owed $4.775m prin. /$645k int. as of FY2021 — TIF reimbursed CEDC $5.519m in Fall of 2020; CEDC paid off bonds • Changes in CEDC Operating Costs/Scope for FY23 included parks maintenance increases and 2 new parks positions, may see over $100k in savings, mostly from personnel vacancies • CEDC Capital — Restroom facility at Sparger Park delayed due to bid price — City Park Softball Shade Structure completed w/ $110k in savings — Fire Station Landscaping — Flag Pole at McPherson Park complete — Senior Center renovations underway FY 2023 ANNUAL REPORT OF THE COLLEYVILLE ECONOMIC DEVELOPMENT CORPORATION Accomplishments and activities for FY 2023 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 2023 budgeted sales tax revenue was $2,400,000. Through July 2023, actual sales tax revenue is $1,740,734. The Fund is expected to end with collections over $2.6 million. Operating Expenditure/ActiviYies: In FY 2023, the CEDC provided funding for the following operating expenditures and activities. . The City held several successful special events this year, including the Stars & Guitars, the Harvest Festival, 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 2023, the CEDC provided funding for 13 part-time library positions, one full-time Library Coordinator, a full-time Parks Maintenance Technician and Landscape Beautification Supervisor, a full-time Recreation Specialist for the senior center, and partial funding for 2 Colleyville Center positions. . Technology costs for the Library, Senior Center, and Colleyville Center including software licenses, computer replacements, and network switches • Maintenance for the City's parks Capital Expenditure/Activities: In FY 2023, the CEDC provided funding for the following capital expenditures and activities. . City Park - shade structures w/seating and playground improvements completed with $110,000 in savings. . Flag Pole at McPherson Park instailed and completed. • Senior Center renovations - still in progress with completion date of November 2023. . Fire stations 2& 3 landscaping and Sparger Park restroom renovations were delayed due to heat and bid price considerations, respectively. They have since been completed. • Library materials handling system and remote storage lockers. c��,...- COLLEYVILLE � Agenda Number Type Report Department Finance Title Annual Investment Report Agenda Date 8/22/2023 Number Explanation As of July 31, 2023, the total funds held by the Colleyville Economic Development Corporation equaled $7,099,808 and were allocated as follows: Cash $1,018,625 Government Issues $4,581,167 LOGIC (Local Government Investment Pool) $16.00 Certificates of Deposit $1,500,000 The Corporation had a certificate of deposit with Spirit of Texas Bank in the par amount of $1,032,562 that matured at the end of the last fiscal year. This CD came with an interest rate of 0.3%, for a total return of $4,600 and a maturity length of 548 days. Upon maturity, the CEDC was able to take advantage of rising rates and reinvested its funds in a$1.5 million U.S. Government Agency note for a return rate of 4.15% and a duration of one year. The Corporation has been heavily invested in local government pools as well, which held a total return of about 4.87% as of July 2023. Attachments 1. CEDC Investment Report CITY OF COLLEYVILLE COLLEYVILLE ECONOMIC DEVELOPMENT CORPORATION BOARD BRIEFING Ciry of Colleyville Page 1 Colleyville Economic Development Corporation (CEDC) August 22, 2023 � - - , -� . �:'= _:- • $7,099,808 in Balance: Cash $ 1,018,625 Investment Pools FHLB Agency Note $ 4,581,183 $ 1,500,000 s.00i 4.80 % 4.60 % 4.40 % 4.20% 4.00% 3.80% 3.60% ��i� �C�� i'�� 3�, �� a.s�i 4.15 % 4.69 % Pools FHLB Note Total