HomeMy WebLinkAboutColleyville Economic Development Corporation (CEDC)-Agenda Packets-08/05/2025
City of Colleyville Page 1
CITY OF COLLEYVILLE
COLLEYVILLE ECONOMIC
DEVELOPMENT CORPORATION
BOARD WORKSESSION
AGENDA
100 Main Street, Colleyville, Texas, 76034
Executive Conference Room - Third Floor
TUESDAY, AUGUST 5, 2025 - 5:00 PM
1. CALL TO ORDER
2. PRESENTATION AND DISCUSSION
2a Discussion of the FY 2026 proposed Colleyville Economic Development
Corporation (CEDC) budget and the FY 2026 Economic Development
Capital Improvement Program (EDCIP) priorities
3. ADJOURNMENT
I hereby certify this agenda was posted on City Hall bulletin boards Wednesday, July 30,
2025, 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
817.503.1130, and reasonable accommodations will be made to assist you.
City of Colleyville Page 1
CITY OF COLLEYVILLE
COLLEYVILLE ECONOMIC DEVELOPMENT
CORPORATION BOARD WORKSESSION
BRIEFING
Agenda Number 2a Agenda Date 8/5/2025 Number
Type Presentation and Discussion
Department Finance
Title
Discussion of the FY 2026 proposed Colleyville Economic Development Corporation
(CEDC) budget and the FY 2026 Economic Development Capital Improvement Program
(EDCIP) priorities
Explanation
The Colleyville Economic Development Corporation (CEDC) is funded by a one-half cent
sales tax approved by voters in 1996. The ballot language states that the sales tax will
"provide for parks and park facilities, a library, a community center, open space
improvements, and other facilities and improvements only as authorized by Section 4B
of Article 5190.6" of the Local Government Code.
The CEDC Bylaws require the CEDC Board to develop a budget and a combined
Economic Development Capital Improvement Program (EDCIP) annually, which sets
forth long and short-term goals. 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 annual budget and EDCIP is developed, it must be approved
by the City Council.
This item provides the opportunity for the Board to review and discuss the proposed
projects for FY 2026 through 2030 from the attached annual budget and EDCIP, which is
currently scheduled for adoption by the Board at the CEDC meeting on August 19, 2025.
Year one of the EDCIP (FY 2026) will also be brought forward for appropriation and
budget adoption at that meeting.
Attachments
1. CEDC FY26 Budget Presentation
2. CEDC Budget
Colleyville Economic Development Corporation (CEDC)
FY 2026 Budget
Colleyville Economic Development Corporation Board
August 5, 2025
Economic Development Corporations
•What is an Economic Development Corporation (EDC)?
•Nonprofit created to finance new and expanded business enterprises.
•Funded via local sales tax (local sales tax rate is capped at 2% in total).
•City defines projects for the EDC (type).
•City voters must approve the additional sales tax and creation of the corporation.
•EDC Types
•Type A – Developing Industries
•Created to fund industrial development projects such as business
infrastructure, manufacturing, and research and development.
•Type B – Developing Industries and Cultivating Communities
•Can fund quality of life improvements such as parks, museums, sports
facilities, and affordable housing, in addition to projects eligible for Type A.
CEDC History/Highlights
History
•Approved by voters and incorporated on September 3, 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...”
•Established as a Type B EDC
•Funded by ½ cent (0.50%) local sales tax
Highlights
•Currently funds 18.950 FTEs across Library, Parks and Recreation, and the Colleyville
Center.
•Funds operational costs of those departments.
•Funds special events held throughout the year.
•Funds capital improvements of the related facilities.
FY 2026 Operating Budget
FY 2026 Capital Budget
Questions & Discussion