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Home My WebLink AboutColleyville Economic Development Corporation (CEDC)-Worksession Agenda Packets-08/04/2026 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 4, 2026 - 5:00 PM 1. CALL TO ORDER 2. PRESENTATION AND DISCUSSION 2a Discussion of the FY 2027 proposed Colleyville Economic Development Corporation (CEDC) budget and the FY 2027 Economic Development Capital Improvement Program (EDCIP) priorities 3. ADJOURNMENT I hereby certify this agenda was posted on City Hall bulletin boards Wednesday, July 29, 2026, 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 8/4/2026 Number - Type Presentation and Discussion Department Finance Title Discussion of the FY 2027 proposed Colleyville Economic Development Corporation (CEDC) budget and the FY 2027 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 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 2027 through 2031 from the attached annual budget and EDCIP, which is currently scheduled for adoption by the Board at the CEDC meeting on August 18, 2026. Year one of the EDCIP (FY 2027) will also be brought forward for appropriation and budget adoption at that meeting. Attachments 1. CEDC FY27 Budget Presentation 2. CEDC Budget FY27 1 Colleyville Economic Development Corporation (CEDC) FY 2027 Budget Colleyville Economic Development Corporation Board August 4, 2026 2 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. 3 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 19.850 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. 4 FY 2027 Operating Budget 5 FY 2027 Capital Budget 6 Questions & Discussion City of Colleyville 2021 2022 2023 2024 2025 2027 2028 2029 2030 2031 2032 Colleyville Economic Development Corporation (CEDC) Fund Projection Original Budget Revised Estimate Proposed Budget Revenues: Sales Tax 2,390,336$ 2,583,813$ 2,634,045$ 2,675,932$ 2,789,786$ 2,650,000$ 2,650,000$ 2,805,000$ 2,861,100$ 2,918,322$ 2,976,688$ 3,036,222$ 3,096,947$ Investment Income/(Losses)13,658 28,053 283,046 226,503 209,442 180,000 180,000 180,000 180,000 180,000 180,000 180,000 180,000 Miscellaneous - 254 1 70 - - - - - - - - - Event Donations/Revenues 4,617 - - - - - - - - - - - - Transfer From Other Funds 5,518,968 - - - - - - - - - - - - Total Revenues 7,927,579 2,612,120 2,917,091 2,902,505 2,999,229 2,830,000 2,830,000 2,985,000 3,041,100 3,098,322 3,156,688 3,216,222 3,276,947 Expenses: Administration 2,000 2,000 2,000 2,000 2,059 2,000 2,000 2,060 2,101 2,143 2,186 2,230 2,274 Library 357,887 349,015 401,744 596,864 545,130 650,366 653,722 681,852 705,078 729,152 754,107 779,975 806,793 Parks Maintenance 62,348 329,023 476,649 377,693 495,604 545,793 545,793 555,241 570,338 585,897 601,933 618,462 635,502 Recreation - - 3,358 398,809 388,958 405,406 405,406 420,689 437,517 455,017 473,218 492,147 511,832 Senior Center 104,223 106,621 115,376 186,525 210,459 280,983 280,983 292,261 302,629 313,386 324,546 336,125 348,139 Communications 223,192 304,502 284,757 279,623 355,807 369,000 369,000 352,000 359,040 366,221 373,545 381,016 388,636 Colleyville Center 93,784 179,345 227,291 247,511 194,109 221,717 255,467 302,282 342,639 354,013 365,817 378,071 390,790 Debt Service 4,818,166 - - - - - - - - - - - - Total Expenses 5,661,600 1,270,506 1,511,174 2,089,025 2,205,326 2,475,265 2,512,371 2,606,385 2,719,343 2,805,829 2,895,352 2,988,026 3,083,967 Operating Surplus/(Deficit)2,265,978 1,341,614 1,405,917 813,479 793,903 354,735 317,629 378,615 321,757 292,493 261,336 228,196 192,979 Total Capital Expenditures (528,724) (1,078,220) (349,672) (951,487) (864,400) (2,560,000) (960,000) (1,874,400) (870,000) - - (1,300,000) - Net Change in Available Funds 1,737,255 263,394 1,056,245 (138,007) (70,497) 354,735 (642,371) (1,495,785) (548,243) 292,493 261,336 228,196 192,979 Available Funds, beginning 6,980,706$ 6,338,335$ 4,842,550$ 4,294,307$ 4,586,800$ 4,848,136$ 5,076,333$ Available Funds, ending 6,338,335 4,842,550 4,294,307 4,586,800 4,848,136 5,076,333 5,269,312 90-day Operating 620,743 651,596 672,486 694,107 716,488 739,657 763,642 Available Funds Above/(Below) Policy 5,717,592 4,190,954 3,621,822 3,892,693 4,131,648 4,336,676 4,505,670 2026 Actual Projected Budget