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Home My WebLink AboutColleyville Economic Development Corporation (CEDC)-Minutes-8/27/2013 City of Colleyville City Hall COLLEYVILLE 100 Main Street Colleyville Economic Colley817.ville,503.1 Texa000 s 76034 .• r t x 7 Development Corporation www.colleyville.com Board Agenda Tuesday, August 27, 2013 City Council Chambers 7:00 p.m. Third Floor, City Hall 1. CALL TO ORDER 2. CONSENT: READING AND PUBLIC HEARING - Resolution R-13-123 2a Approval of the minutes of the Colleyville Economic Development Corporation Board of Directors meeting of August 28, 2012 2b Approval of the minutes of the Colleyville Economic Development Corporation Board of Directors worksession meeting of August 15, 2013 2c Approval of the annual review of the Colleyville Economic Development Corporation's Investment Policy 3. RESOLUTION(S): READING AND PUBLIC HEARING 3a Resolution R-13-124 Adopting the Economic Development Capital Improvement Program (EDCIP) for the Fiscal Years 2014-2018 (FY 2014-2018) of the Colleyville Economic Development Corporation 3b Resolution R-13-125 Adopting the Fiscal Year 2014 (FY 2014) Budget 3c Resolution R-13-126 Approving amendments to the Bylaws of the Colleyville Economic Development Corporation 3d Resolution R-13-127 Appointing a Colleyville Economic Development Corporation Board President and Vice President 4. REPORTS 4a Annual Activity Report 4b Annual investment report Y 3 Colleyville Economic Development Corporation Agenda August 27, 2013 5. CITIZENS COMMENTS/PRESENTATIONS REGARDING ITEMS NOT ON THE AGENDA 6. ADJOURNMENT I hereby certify this agenda was posted on City Hall bulletin boards Friday, August 23, 2013, by 5:00 p.m. I■ 411 11 , Amy - elley, TRMC 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 City Secretary at least 48 hours in advance at 817.503.1130, and reasonable accommodations will be made to assist you. c> mi a•€t€ -t a , eft e=aa:, .: °;. `.` � .b.. ,< ,s /5)i City of Colleyville City Hall COLLEYVILLE Colleyville Economic 100 Main Street Colleyville, Texas 76034 S Development 817. 503.1000 Corporation Board www•COI leyville.com Minutes Tuesday, August 27, 2013 City Council Chambers 7:00 p.m. Third Floor City Hall President David Kelly called the Colleyville Economic Development Corporation Board meeting to order on August 27, 2013, at 7:04 p.m. ROLL CALL: President David Kelly, Vice President Carol Wollin, Directors Tom Hart, Mark Slosson, and Carel Tornes. General Manager Jennifer Fadden, Finance Manager Terry Leake, Economic Development Director Marty Wieder, Library and Parks and Recreation Director Mary Rodne, Recreation and City Events Manager Lisa Escobedo, Finance Manager Karen Hines, Colleyville Center Manager Leslie Hill, Strategic Services Manager Adrienne Lothery, and Secretary Amy Shelley were present. City Councilmember Chuck Mogged was also present. Directors Stan Hall and Tim Kelso were absent. 2. CONSENT: READING AND PUBLIC HEARING - Resolution R-13-123 2a Approval of the minutes of the Colleyville Economic Development Corporation Board of Directors meeting of August 28, 2012 2b Approval of the minutes of the Colleyville Economic Development Corporation Board of Directors worksession meeting of August 15, 2013 2c Approval of the annual review of the Colleyville Economic Development Corporation's Investment Policy President Kelly read Resolution R-13-123 in its entirety. President Kelly opened the public hearing at 7:06 p.m. There was no one present wishing to speak concerning this item and President Kelly closed the public hearing at 7:06 p.m. Vice President Wollin moved to approve Resolution R-13-123. Director Tornes seconded the motion. Colleyville Economic Development Corporation Minutes August 27, 2013 The motion carried by the following vote: Aye: 5 — President David Kelly, Vice President Carol Wollin, Directors Tom Hart, Carel Tornes, and Mark Slosson Absent: 2 — Directors Stan Hall and Tim Kelso 3. RESOLUTION(S): READING AND PUBLIC HEARING 3a Resolution R-13-124 Adopting the Economic Development Capital Improvement Program (EDCIP) for the Fiscal Years 2014-2018 (FY 2014-2018) of the Colleyville Economic Development Corporation President Kelly read Resolution R-13-124 in its entirety. Finance Manager Terry Leake presented the Economic Development Capital Improvement Program for the Fiscal Years 2014-2018 of the Colleyville Economic Development Corporation. President Kelly opened the public hearing at 7: 12 p.m. There was no one present wishing to speak concerning this item and President Kelly closed the public hearing at 7: 12 p.m. Vice President Wollin stated this coming year will be the last fiscal year in which the interfund loan re-payment for Colleyville Center will be used in the amount of $165,000. President Kelly questioned staff regarding what is the desire of the minimum fund balance. Finance Manager Leake stated the desire is to keep the fund balance above $800,000 and this year the fund balance will b above $859,000. She added this is an acceptable fund balance for the rating agency since there is current outstanding debt with the Corporation. Director Tornes questioned the Board regarding where the initial funding came from for the interfund loan. President Kelly stated it came from the Colleyville Tomorrow Fund as a one-time draw down. President Kelly moved to approve Resolution R-13-124. Director Hart seconded the motion. The motion carried by the following vote: Colleyville Economic Development Corporation Minutes August 27, 2013 Aye: 5 — President David Kelly, Vice President Carol Wollin, Directors Tom Hart, Carel Tornes, and Mark Slosson Absent: 2 — Directors Stan Hall and Tim Kelso 3b Resolution R-13-125 Adopting the Fiscal Year 2014 (FY 2014) Budget President Kelly read Resolution R-13-125 in its entirety. Finance Manager Terry Leake presented the highlights of the Fiscal Year 2014 Budget. President Kelly opened the public hearing at 7: 18 p.m. There was no one present wishing to speak concerning this item and President Kelly closed the public hearing at 7: 18 p.m. Vice President Wollin questioned staff regarding the curtain for the stage area at Colleyville Center, what color is being proposed for the curtain? Colleyville Center Manager Leslie Hill stated it will be the same quality and texture as what is currently in place, however the color has not been determined. Director Hart questioned the Board regarding the site master plan for the Colleyville Center. President Kelly explained the site master plan is to complete the outside of the Colleyville Center to make it more conducive to larger, outside events. Director Tornes questioned staff regarding the number of events held each year at Colleyville Center. Manager Hill replied approximately 400 events, with the majority of the events taking place on the weekend, almost 75 percent. She added currently staff would like to build more Monday through Friday, business day, events. Director Tornes questioned staff regarding the amount of savings occurred by using the interfund loan versus using a bank for funding. Finance Manager Leake stated debt that would have been sold during that time would have been almost at a four percent interest rate, with a tax anticipation note for seven years, with approximately $10,000. General Manager Jennifer Fadden added almost $36,000 in total savings with interest costs. President Kelly added it was very beneficial to use those funds. Vice President Wollin questioned staff regarding the plans for the trailhead at L.D. Lockett Park and the Cottonbelt. President Kelly stated there are no final decisions; therefore the funding will remain as a placeholder until it can be decided. . ,,� • - � ,��, ��2, a�•a;:, _ v<i Colleyville Economic Development Corporation Minutes August 27, 2013 Director Hart moved to approve Resolution R-13-125. Director Slosson seconded the motion. The motion carried by the following vote: Aye: 5 - President David Kelly, Vice President Carol Wollin, Directors Tom Hart, Carel Tornes, and Mark Slosson Absent: 2 - Directors Stan Hall and Tim Kelso 3c Resolution R-13-126 Approving amendments to the Bylaws of the Colleyville Economic Development Corporation President Kelly read Resolution R-13-126 in its entirety. Secretary Amy Shelley presented the amendments to the Bylaws of the Colleyville Economic Development Corporation. President Kelly opened the public hearing at 7:28 p.m. There was no one present wishing to speak concerning this item and President Kelly closed the public hearing at 7:28 p.m. Vice President Wollin moved to approve Resolution R-13-126 with the elimination of Article V, Section 10. - Amendments. President Kelly seconded the motion. The motion carried by the following vote: Aye: 5 - President David Kelly, Vice President Carol Wollin, Directors Tom Hart, Carel Tornes, and Mark Slosson Absent: 2 - Directors Stan Hall and Tim Kelso 3d Resolution R-13-127 Appointing a Colleyville Economic Development Corporation Board President and Vice President President Kelly read Resolution R-13-127 in its entirety. President Kelly opened the public hearing at 7:29 p.m. Colleyville Economic Development Corporation Minutes August 27, 2013 There was no one present wishing to speak concerning this item and President Kelly closed the public hearing at 7:29 p.m. President Kelly nominated Vice President Wollin as President and Director Hall as Vice President. There were no other nominations. President Kelly moved to approve Resolution R-13-127, appointing Vice President Wollin as President and Director Hall as Vice President. Director Hart seconded the motion. The motion carried by the following vote: Aye: 5 — President David Kelly, Vice President Carol Wollin, Directors Tom Hart, Carel Tornes, and Mark Slosson Absent: 2 — Directors Stan Hall and Tim Kelso 4. REPORTS 4a Annual Activity Report 4b Annual investment report There was no discussion of this item. 5. CITIZENS COMMENTS/PRESENTATIONS REGARDING ITEMS NOT ON THE AGENDA There was no discussion of this item. 6. ADJOURNMENT There being no further business before the Board, Director Tornes made a motion to adjourn. Director Hart seconded the motion. The motion carried by the following vote: Aye: 5 — President David Kelly, Vice President Carol Wollin, Directors Tom Hart, Carel Tornes, and Mark Slosson Absent: 2 — Directors Stan Hall and Tim Kelso '`"' .`."�"e" ` �' i f s` r a=° ..,.."E u •_:r....,.... ,v :.c."«;Z ' .- ?s `a� � �a»:'r w , ? `"";°' 3 ��:�-v Y'-•'� ,—tom Colleyville Economic Development Corporation Minutes August 27, 2013 President Kelly adjourned the meeting at 7:30 p.m. APPROVED BY A VOTE OF 6 AYES, 0 NAYS, AND 0 ABSTENTIONS ON THIS THE 3RD DAY OF DECEMBER 2013. Minutes taken and prepared by: 11 e Ill'; Amy Shelley Secretary