HomeMy WebLinkAboutColleyville Economic Development Corporation (CEDC)-Minutes-8/28/2012
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 28, 2012
7:00 p.m.
City Council Chambers
Third Floor, City Hall
1. CALL TO ORDER
2. CONSENT: READING AND PUBLIC HEARING - Resolution R-12-117
2a Approval of the minutes of the Colleyville Economic Development
Corporation Board of Directors meeting of August 23, 2011
2b Approval of the minutes of the Colleyville Economic Development
Corporation Board of Directors meeting of August 14, 2012
2c Approval of a Pledge Agreement with the Federal Reserve Bank of
Boston for bank depository collateral
3. RESOLUTION(S): READING AND PUBLIC HEARING
3a Resolution R-12-118
Adopting the Economic Development Capital Improvement Program
(EDCIP) for FY 2013-2017
3b Resolution R-12-119
Adopting the Fiscal Year 2013 (FY 2013) Budget
3c Resolution R-12-120
Replacing Resolution R-03-59 to update the Colleyville Economic
Development Corporation's, (CEDC) Investment Policy
3d Resolution R-12-121
Approval of Colleyville Economic Development Corporation (CEDC)
authorized depository signatures
3e Resolution R-12-122
Appointing a Colleyville Economic Development Corporation Board
President and Vice President
City of Colleyville Page 1
Colleyville Economic
Development Corporation
Agenda August 28, 2012
4. REPORTS
4a Annual Activity Report
4b Annual Investment Report
5. ADJOURNMENT
I hereby certify this agenda was posted on City Hall bulletin boards Friday, August
24, 2012, by 5:00 p.m.
Cynthia Singleton, TRMC, CMC
City Secretary
Any matter on this agenda may, at the discretion of the governing body, be
opened for public comment and discussion.
If you plan to attend this public meeting and have a disability that requires special
accommodations, please advise the Executive Secretary at least 48 hours in
advance at 817.503.1110, and reasonable accommodations will be made to assist
you.
City of Colleyville Page 2
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 28, 2012
7:00 p.m.
City Council Chambers
Third Floor, City Hall
The Colleyville Economic Development Corporation Board meeting was called to order
by President David Kelly on August 28, 2012, at 7:01 p.m.
ROLL CALL: Directors Stan Hall, Tom Hart, Mark Slosson, Carel Tornes, and Timothy
Kelso were present. President David Kelly, General Manager Jennifer Fadden,
Finance Manager Terry Leake, Economic Development Director Marty Wieder, Parks
Superintendent Tim Hightshoe, Library Director Mary Rodne, Colleyville Center
Manager Lin Przybyl, and City Secretary Cynthia Singleton were also present.
Vice President Carol Wollin was absent.
2. CONSENT: READING AND PUBLIC HEARING - Resolution R-12-117
2a Approval of the minutes of the Colleyville Economic Development Corporation
Board of Directors meeting of August 23, 2011
2b Approval of the minutes of the Colleyville Economic Development Corporation
Board of Directors meeting of August 14, 2012
2c Approval of a Pledge Agreement with the Federal Reserve Bank of Boston for
bank depository collateral
President Kelly read Resolution R- 12-117 in its entirety.
Finance Manager Terry Leake stated as a part of depository services for a public
entity, a bank must provide collateral for all public deposits above the statutory
Federal Deposit Insurance Corporation limit. Periodically, the Federal Reserve Bank
of Boston requires the Corporation to update the agreement.
President Kelly opened the public hearing.
There was no one present wishing to speak concerning this item and President Kelly
closed the public hearing.
Director Hall moved to approve Resolution R-12-117.
Director Hart seconded the motion.
City of Colleyville Page 1
Colleyville Economic
Development Corporation
Minutes August 28, 2012
The motion carried by the following vote:
Aye: Carel Tornes, Tom Hart, Stan Hall, David Kelly, Timothy Kelso, Mark Slosson
Absent: 1 – Carol Wollin
3. RESOLUTION(S): READING AND PUBLIC HEARING
3a Resolution R-12-118
Adopting the Economic Development Capital Improvement Program (EDCIP)
for FY 2013-2017
President Kelly read Resolution R-12-118 in its entirety.
Finance Manager Terry Leake stated the Colleyville Economic Development
Corporation (CEDC) Board bylaws require the Board to adopt an EDCIP Program
annually and provided an overview of the Economic Development Capital
Improvement Program for Fiscal Years 2013-2017. Manager Leake stated, as
directed by the Board, the replacement of the main air conditioning unit in the
Colleyville Center was moved from FY 2015 to FY 2013 and the description of the
proposed FY 2013 improvements to L.D. Lockett Park was changed from “Playground
at L.D. Lockett Park Trail Node” to “Improvements to the Cotton Belt Trail at the L.D.
Lockett Park Trailhead” and further outlined CEDC revenues and expenditures.
Manager Leake stated CEDC funds may be used for park improvements, park land,
the Colleyville Center, the Colleyville Public Library and economic development
marketing expenses.
President Kelly opened the public hearing.
There was no one present wishing to speak concerning this item and President Kelly
closed the public hearing.
General Manager Jennifer Fadden spoke regarding the process for the development of
improvements to the L.D. Lockett property.
President Kelly moved to approve Resolution R-12-118.
Director Tornes seconded the motion.
The motion carried by the following vote:
Aye: Carel Tornes, Tom Hart, Stan Hall, David Kelly, Timothy Kelso, Mark Slosson
Absent: 1 – Carol Wollin
City of Colleyville Page 2
Colleyville Economic
Development Corporation
Minutes August 28, 2012
3b Resolution R-12-119
Adopting the Fiscal Year 2013 (FY 2013) Budget
President Kelly read Resolution R-12-119 in its entirety.
President Kelly opened the public hearing.
Finance Manager Terry Leake stated the CEDC Board of Directors must adopt an
annual budget. The Fiscal Year 2013 CEDC budget replicates the EDCIP Program just
adopted by the Board. Manager Leake reviewed the operating budget expenditures.
There was no one present wishing to speak concerning this item and President Kelly
closed the public hearing.
Director Hart moved to approve Resolution R-12-119.
President Kelly seconded the motion.
The motion carried by the following vote:
Aye: Carel Tornes, Tom Hart, Stan Hall, David Kelly, Timothy Kelso, Mark Slosson
Absent: 1 – Carol Wollin
3c Resolution R-12-120
Replacing Resolution R-03-59 to update the Colleyville Economic Development
Corporation's, (CEDC) Investment Policy
President Kelly read Resolution R-12-120 in its entirety.
Finance Manager Terry Leake stated recent legislative session changes approved
updates to the Public Funds Investment Act, which governs the CEDC’s investment
process and investment policy. The major changes are in sections Objectives-Safety;
Permissible Investments; Unacceptable Investments; Effect of Loss of Required
Rating; Investment Strategy; Collateral Securities for Certificates of Deposit and
Demand Accounts; Reporting Requirements; and Training Requirements. Manager
Leake further stated the proposed policy also includes information suggested by the
Government Treasurers of Texas Investment Policy Certification program.
President Kelly opened the public hearing.
There was no one present wishing to speak concerning this item and President Kelly
closed the public hearing.
City of Colleyville Page 3
Colleyville Economic
Development Corporation
Minutes August 28, 2012
Director Hall moved to approve Resolution R-12-120.
Director Tornes seconded the motion.
The motion carried by the following vote:
Aye: Carel Tornes, Tom Hart, Stan Hall, David Kelly, Timothy Kelso, Mark Slosson
Absent: 1 – Carol Wollin
3d Resolution R-12-121
Approval of Colleyville Economic Development Corporation (CEDC) authorized
depository signatures
President Kelly read Resolution R-12-121 in its entirety.
President Kelly opened the public hearing.
There was no one present wishing to speak concerning this item and President Kelly
closed the public hearing.
Director Hart moved to approve Resolution R-12-121.
Director Slosson seconded the motion.
The motion carried by the following vote:
Aye: Carel Tornes, Tom Hart, Stan Hall, David Kelly, Timothy Kelso, Mark Slosson
Absent: 1 – Carol Wollin
3e Resolution R-12-122
Appointing a Colleyville Economic Development Corporation Board President
and Vice President
President Kelly read Resolution R-12-122 in its entirety.
President Kelly opened the public hearing.
There was no one present wishing to speak concerning this item and President Kelly
closed the public hearing.
Director Hart nominated Director Kelly as President and Director Wollin as Vice
President.
There were no other nominations.
City of Colleyville Page 4
Colleyville Economic
Development Corporation
Minutes August 28, 2012
Director Hart moved to approve Resolution R-12-122, appointing Director Kelly as
President and Director Wollin as Vice President.
Director Hall seconded the motion.
The motion carried by the following vote:
Aye: Carel Tornes, Tom Hart, Stan Hall, David Kelly, Timothy Kelso, Mark Slosson
Absent: 1 – Carol Wollin
4. REPORTS
4a Annual Activity Report
There was no discussion of this item.
4b Annual Investment Report
There was no discussion of this item.
5. ADJOURNMENT
There being no further business before the Colleyville Economic Development
Corporation Board, Director Tornes moved to adjourn and Director Hall seconded the
motion.
The motion carried by the following vote:
Aye: Carel Tornes, Tom Hart, Stan Hall, David Kelly, Timothy Kelso, Mark Slosson
Absent: 1 – Carol Wollin
President Kelly adjourned the meeting at 7:28 p.m.
APPROVED BY A VOTE OF 5 AYES, 0 NAYS, AND 0 ABSTENTIONS ON THIS THE 27TH
DAY OF AUGUST 2013.
Minutes taken by: Cynthia Singleton, TRMC, CMC, City Secretary
City of Colleyville Page 5
Colleyville Economic
Development Corporation
Minutes August 28, 2012
Minutes prepared and recorded by:
Amy Shelley
Secretary
City of Colleyville Page 6