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Home My WebLink AboutColleyville Economic Development Corporation (CEDC)-Agenda Packets-08/19/2025 City of Colleyville Page 1 CITY OF COLLEYVILLE COLLEYVILLE ECONOMIC DEVELOPMENT CORPORATION BOARD AGENDA 100 Main Street, Colleyville, Texas, 76034 TUESDAY, AUGUST 19, 2025 - 5:00 PM 1. CALL TO ORDER 2. CONSENT: READING AND PUBLIC HEARING - RESOLUTION R-25-174 2a Approval of the minutes of the Colleyville Economic Development Corporation Board of Directors meeting of August 20, 2024 2b Approval of the minutes of the Colleyville Economic Development Corporation Board of Directors Worksession meeting of August 5, 2025 3. RESOLUTION(S): READING AND PUBLIC HEARING 3a Resolution R-25-175 Adopting the Economic Development Capital Improvement Program (EDCIP) for the Fiscal Years 2026-2030 of the Colleyville Economic Development Corporation 3b Resolution R-25-176 Adopting the Fiscal Year 2026 Budget 4. ADJOURNMENT I hereby certify this agenda was posted on City Hall bulletin boards Wednesday, August 13, 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 817.503.1133, and reasonable accommodations will be made to assist you. RESOLUTION R-25-174 A RESOLUTION APPROVING ACTION UNDER CONSENT ITEMS AT THE COLLEYVILLE ECONOMIC DEVELOPMENT CORPORATION BOARD MEETING OF AUGUST 19, 2025 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 20, 2024 b. Approval of the minutes of the Colleyville Economic Development Corporation Board of Directors Worksession meeting of August 5, 2025 AND IT IS SO RESOLVED. APPROVED BY A VOTE OF AYES, NAYS, ON THIS 19TH DAY OF AUGUST 2025. President Bobby Lindamood Aye Director Brandi Elder Aye Director George Dodson Aye Director Scotty Richardson Aye Director Ralph Hunkins Aye Director John Terhoeve Absent Director Kimberly Gunderson ATTEST: COLLEYVILLE ECONOMIC DEVELOPMENT CORPORATION Christine Loven, TRMC Bobby Lindamood Secretary President City of Colleyville Page 1 CITY OF COLLEYVILLE COLLEYVILLE ECONOMIC DEVELOPMENT CORPORATION BOARD MINUTES 100 Main Street, Colleyville, Texas, 76034 City Council Chambers TUESDAY, AUGUST 20, 2024 President Bobby Lindamood called the Colleyville Economic Development Corporation Board meeting to order on August 20, 2024, at 5:07 p.m. ROLL CALL: President Lindamood, and Directors Brandi Elder, Ralph Hunkins, Scotty Richardson, and George Dodson. ABSENT: Director John Terhoeve. 2. CONSENT: READING AND PUBLIC HEARING - RESOLUTION R-24-171 2a Approval of the minutes of the Colleyville Economic Development Corporation Board of Directors meeting of August 22, 2023 2b Approval of the minutes of the Colleyville Economic Development Corporation Board of Directors Worksession of August 6, 2024 President Lindamood read Resolution R-24-171 in its entirety. There was no discussion. President Lindamood opened and closed the public hearing without any speakers. Director Dodson made a motion to approve Resolution R-24-1171, seconded by President Lindamood. The motion to approve passed by the following vote: Ayes: 5 – President Lindamood and Directors Elder, Hunkins, Richardson, and Dodson. Absent: 1 – Director Terhoeve. City of Colleyville Page 2 Colleyville Economic Development Corporation Minutes August 20, 2024 3. RESOLUTION(S): READING AND PUBLIC HEARING 3a Resolution R-24-172 Adopting the Economic Development Capital Improvement Program (EDCIP) for the Fiscal Years 2025-2029 of the Colleyville Economic Development Corporation President Lindamood read Resolution R-24-172 in its entirety. Finance Director Matt Poston presented this item for the EDCIP and the following item for the FY25 CEDC Budget simultaneously. He began with an overview of the CEDC and the proposed FY25 budget. Director Poston 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 discussion regarding sidewalks and trails at the Senior Center, the additional election cost for conducting a bond election, and planned pond dredging in 2027. President Lindamood opened and closed the public hearing without any speakers. Director Richardson made a motion to approve Resolution R-24-172, seconded by Director Hunkins. The motion to approve passed by the following vote: Ayes: 5 – President Lindamood and Directors Elder, Hunkins, Richardson, and Dodson. Absent: 1 – Director Terhoeve. 3b Resolution R-24-173 Adopting the Fiscal Year 2024 Budget President Lindamood read Resolution R-24-173 in its entirety. Finance Director Matt Poston presented this item and provided a brief overview of the revenues and expenditures. He noted the fund is healthy and provides for the CIP projects outlined in the presentation. President Lindamood opened and closed the public hearing without any speakers. Director Elder made a motion to approve Resolution R-24-173, seconded by Director Richardson. City of Colleyville Page 3 Colleyville Economic Development Corporation Minutes August 20, 2024 The motion to approve passed by the following vote: Ayes: 5 – President Lindamood and Directors Elder, Hunkins, Richardson, and Dodson. Absent: 1 – Director Terhoeve. 4. ADJOURNMENT There being no further business to come before the Board, President Lindamood adjourned the meeting at 5:24 p.m. APPROVED BY A VOTE OF _ AYES, _ NAYS, ON THIS THE __TH DAY OF AUGUST 2025. Minutes taken and prepared by: Christine Loven, TRMC City Secretary City of Colleyville Page 1 CITY OF COLLEYVILLE COLLEYVILLE ECONOMIC DEVELOPMENT CORPORATION BOARD WORKSESSION MINUTES 100 Main Street, Colleyville, Texas, 76034 Executive Conference Room - Third Floor TUESDAY, AUGUST 5, 2025 - 5:00 PM President Lindamood called the Colleyville Economic Development Corporation Board meeting to order on August 6, 2024, at 5:00 p.m. ROLL CALL: President Lindamood, and Directors George Dodson, Brandi Elder, Kimberly Holt Gunderson, Ralph Hunkins, Scotty Richardson, and John Terhoeve. Also Present: Finance Director Cassie Smith, Accounting Manager Karen Hines, City Manager Jerry Ducay, Assistant City Manager Mark Wood, Parks and Recreation Director Lisa Escobedo, Library Director Jack Pawlowski, and City Secretary Christine Loven. 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 Finance Cassie Smith presented this item which began with an overview of the CEDC and the proposed FY26 operating and capital budgets. Director Smith provided a review of the CEDC budget line items, and notable highlights. There was discussion of the increase in expenditures, the Hotel Occupancy Tax, and Communications line item. The Board requested the Capital expenditures be reported separately, and noted a formula error. 3. ADJOURNMENT There being no further business to discuss, President Lindamood adjourned the Worksession at 5:28 p.m. Minutes taken and prepared by: Christine Loven, TRMC City Secretary City of Colleyville Page 1 CITY OF COLLEYVILLE COLLEYVILLE ECONOMIC DEVELOPMENT CORPORATION BOARD BRIEFING Agenda Number 3a Agenda Date 8/19/2025 Number Resolution R-25-175 Type Resolution Department Finance Title Adopting the Economic Development Capital Improvement Program (EDCIP) for the Fiscal Years 2026-2030 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 5, 2025, the Board met in a worksession and reviewed and discussed the proposed projects included in the FY 2026-2030 EDCIP. The attached resolution approves the FY 2026-2030 EDCIP. Attachments 1. CEDC Presentation 2. Resolution R-25-175 1 Colleyville Economic Development Corporation (CEDC) FY 2026 Budget Colleyville Economic Development Corporation Board August 19, 2025 2 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 & 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. 3 FY 2026 Operating Budget 4 FY 2026 Capital Budget Questions and Discussion? RESOLUTION R-25-175 A RESOLUTION ADOPTING THE ECONOMIC DEVELOPMENT CAPITAL IMPROVEMENT PROGRAM (EDCIP) FOR FISCAL YEARS 2026-2030 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 AYES, NAYS, ON THIS 19TH DAY OF AUGUST 2025. President Bobby Lindamood Aye Director Brandi Elder Aye Director George Dodson Aye Director Scotty Richardson Aye Director Ralph Hunkins Aye Director John Terhoeve Absent Director Kimberly Gunderson ATTEST: COLLEYVILLE ECONOMIC DEVELOPMENT CORPORATION Christine Loven, TRMC Bobby Lindamood Secretary President Exhibit “A” Colleyville Economic Development Corporation Current Year and Five-year CIP Plan FY 2025 CEDC Park Si gnage Re pl ace me nt 250,000 Re c Ce nte r Maste r Pl an Study 200,000 Se curi ty Came ras i n Parks - FY25 100,000 550,000$ FY 2026 CEDC A wni ngs at P arks Faci l i ty / Ci ty South Lot 300,000 Ci ty Hal l & Li brary Re novati ons (Wal l pape r re moval )70,000 Park Si gnage Re pl ace me nt 220,000 Re cre ati on Ce nte r / V oti ng Ce nte r 1,000,000 Se curi ty Came ras i n Parks - FY26 100,000 1,690,000$ FY 2027 CEDC N/A - -$ FY 2028 CEDC Dre dgi ng Ponds 120,000 Se ni or Ce nte r / Re cre ati on Ce nte r Land Improve me nts 250,000 370,000$ FY 2029 CEDC N/A - -$ FY 2030 CEDC N/A - -$ Five -ye ar Total CIP (FY26 - FY30)2,610,000$ Curren t Year an d Five-y ear CIP P lan City of Colleyville Page 1 CITY OF COLLEYVILLE COLLEYVILLE ECONOMIC DEVELOPMENT CORPORATION BOARD BRIEFING Agenda Number 3b Agenda Date 8/19/2025 Number Resolution R-25-176 Type Resolution Department Finance Title Adopting the Fiscal Year 2026 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 2026 budget replicates the revenues and expenditures contained in the proposed FY 2026 - 2030 EDCIP, which was reviewed at the CEDC budget worksession on August 5, 2025. Proposed operating expenditures for FY 2026 total $2,504,665, as reflected in the attached FY 2026 CEDC Budget. Attachments 1. CEDC FY26 Budget 2. Resolution R-25-176 City of Colleyville 2020 2021 2022 2023 2024 2026 2027 2028 2029 2030 2031 Colleyville Economic Development Corporation (CEDC) Fund Projection Original Budget Revised Estimate Proposed Budget Revenues: Sales Tax 2,096,882$ 2,390,336$ 2,583,813$ 2,634,045$ 2,675,932$ 2,600,000$ 2,600,000$ 2,650,000$ 2,703,000$ 2,757,060$ 2,812,201$ 2,868,445$ 2,925,814$ Investment Income/(Losses)36,446 13,658 28,053 283,046 226,503 60,000 200,000 180,000 180,000 180,000 180,000 180,000 180,000 Miscellaneous - - 254 1 70 - - - - - - - - Event Donations/Revenues - 4,617 - - - - - - - - - - - Transfer From Other Funds - 5,518,968 - - - - - - - - - - - Total Revenues 2,133,328 7,927,579 2,612,120 2,917,091 2,902,505 2,660,000 2,800,000 2,830,000 2,883,000 2,937,060 2,992,201 3,048,445 3,105,814 Expenses: Administration 2,000 2,000 2,000 2,000 2,000 2,000 2,000 2,000 2,000 2,000 2,000 2,000 2,000 Library 338,817 357,887 349,015 401,744 596,864 592,104 592,104 650,366 672,112 694,643 717,988 742,178 767,245 Parks Maintenance 124,724 62,348 329,023 476,649 377,693 541,548 541,988 545,793 560,512 575,678 591,305 607,409 624,007 Recreation - - - 3,358 260,858 379,159 379,159 405,406 421,622 438,487 456,027 474,268 493,238 Senior Center 93,830 104,223 106,621 115,376 186,525 268,128 268,128 280,983 290,900 301,188 311,860 322,931 334,418 Communications 146,515 223,192 304,502 284,757 279,623 314,000 314,000 369,000 383,760 399,110 415,075 431,678 448,945 Colleyville Center 253,728 95,763 234,100 227,291 247,511 236,046 236,046 251,117 258,852 266,873 275,193 283,821 292,771 Debt Service 604,144 4,818,166 - - - - - - - - - - - Total Expenses 1,563,759 5,663,580 1,325,262 1,511,174 1,951,074 2,332,985 2,333,425 2,504,665 2,589,759 2,677,980 2,769,447 2,864,286 2,962,624 Operating Surplus/(Deficit)569,570 2,263,999 1,286,858 1,405,917 951,431 327,015 466,575 325,335 293,241 259,080 222,754 184,160 143,191 Total Capital Expenditures (241,969) (528,406) (1,078,220) (349,672) (852,681) (300,000) (800,000) (1,940,000) - (370,000) - - - Net Change in Available Funds 327,600 1,735,592 208,638 1,056,245 98,750 327,015 (333,425) (1,614,665) 293,241 (110,920) 222,754 184,160 143,191 Available Funds, beginning 6,651,220$ 6,317,795$ 4,703,130$ 4,996,371$ 4,885,451$ 5,108,205$ 5,292,365$ Available Funds, ending 6,317,795 4,703,130 4,996,371 4,885,451 5,108,205 5,292,365 5,435,555 90-day Operating 576,006 618,816 640,090 662,145 685,012 708,721 733,306 Available Funds Above/(Below) Policy 5,741,788 4,084,313 4,356,281 4,223,306 4,423,193 4,583,643 4,702,249 2025 Actual Projected Budget RESOLUTION R-25-176 A RESOLUTION ADOPTING AN ANNUAL BUDGET FOR FISCAL YEAR 2026 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 2025 budget amounts for the Colleyville Economic Development Corporation are as follows: Total Revenues $2,830,000 Operating Expenditures $2,504,665 Capital Expenditures $1,940,000 Total Expenditures $4,444,665 AND IT IS SO RESOLVED. APPROVED BY A VOTE OF _ AYES, _ NAYS, ON THIS 19TH DAY OF AUGUST 2025. President Bobby Lindamood Aye Director Brandi Elder Aye Director George Dodson Aye Director Scotty Richardson Aye Director Ralph Hunkins Aye Director John Terhoeve Absent Director Kimberly Gunderson ATTEST: COLLEYVILLE ECONOMIC DEVELOPMENT ORPORATION Christine Loven, TRMC Bobby Lindamood Secretary President