HomeMy WebLinkAboutCity Council Resolutions (R-99-1550)-09/21/1999
RESOLUTION R-99-1550
A RESOLUTION APPROVING THE COLLEYVILLE ECONOMIC DEVELOPMENT
CORPORATION CAPITAL IMPROVEMENT PLAN
WHEREAS, the by-laws of the Colleyville Economic Development Corporation require
that an Economic Development Capital Improvement Plan 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
that the plan be approved by the City Council; and
WHEREAS, the Board of Directors has developed and approved an Economic
Development Capital Improvement Plan.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
COLLEYVILLE:
See 1.
That the Economic Development Capital Improvement Plan of the
Colleyville Economic Development Corporation (Exhibit 1) is hereby
approved.
AND SO IT IS RESOLVED.
Passed by a vote of S ayes,
2.1 ~ day of ~ej>f-..f-mb/r
o nays, and
,1999.
o
abstentions on this
ATTEST:
CITY OF COLLEYVILLE
J n Harris
City Secretary, TRMC, CMC
COLLEYVILLE ECONOMIC DEVELOPMENT COPRORA TION EXHIBIT 1
ECONOMIC DEVELOPMENT CAPITAL IMPROVEMENT PROGRAM FY 2000 . FY 2004
PROJECTED
FISCAL YEAR 1999 2000 2001 2002 2003 2004
BEGINNING FUND BALANCE $719,079 $703,101 $469,038 $418,430 $304,170 $141,568
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PROJECTED 112 CENT SALES TAX REVENUE $836,428 $950,924 $1,026,998 $1,109,158 $1,197,890 $1,293,722
INTEREST INCOME $100,000 $70,000 $130,000 $90,000 $50,000 $50,000
USE OF FUND BALANCE $15,978 $234,063 $50,608 $114,260 $162,602 $0
REMAINING FY 97 BOND PROCEEDS * $0 $95,000 $400,000 $0 $0 $0
TOTAL REVENUES $952,406 $1,349,987 $1,607,606 $1,313,418 $1,410,493 $1,343,722
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OPERATING:
ADMINISTRATIVE $7,400 $7,400 $7,400 $7,400 $7,400 $7,400
1997 DEBT SERVICE & 1.4 TIMES COVERAGE $692,432 $685,661 $678,206 $677,018 $668,093 $666,044
PROPOSED DEBT SERVICE & 1.4 TIMES COV $0 $0 $252,000 $252,000 $252,000 $252,000
CAPITAL:
BRANSFORD PARK PLAN $6,755 $0 $0 $0 $0 $0
BRANSFORD PARK RESTORATION $0 $75,000 $180,000 $0 $0 $0
CITY ENTRANCE MARKERS $1,524 $177,618 $0 $0 $0 $0
CITY PARK SHADE STRUCTURES $45,000 $0 $0 $0 $0 $0
COMMUNITY CENTER STARTUP $30,692 $19,308 $0 $0 $0 $0
KIMZEY PARK DEVELOPMENT $0 $250,000 $0 $0 $0 $0
LIBRARY STARTUP * $0 $0 $300,000 $0 $0 $0
MC PHERSON PARK PLAN * $0 $45,000 $100,000 $0 $0 $0
PARK LAND PURCHASE $0 $0 $0 $287,000 $0 $0
PARK MASTER PLAN UPDATE $15,000 $0 $0 $0 $0 $0
SCHOOLJSOCCER FIELD PARK LAND * $0 $90,000 $90,000 $90,000 $90,000 $90,000
SPARGER. NATURE CENTER TRAIL $0 $0 $0 $0 $393,000 $0
RESTROOMS FOR EXISTING PARKS $153,603 $0 $0 $0 $0 $0
TOTAL EXPENDITURES $952,406 $1,349,987 $1,607,606 $1,313,418 $1,410,493 $1,015,444
EXCESS REVENUES OVER EXPENDITURES $0 $0 $0 $0 $0 $328,2n
ENDING FUND BALANCE $703,101 $469,038 $418,430 $304,170 $141,568 $469,845
* THE REMAINING 1997 BOND PROCEEDS ($495,000) ARE ALLOCATED TO SCHOOLJSOCCER FIELD PARK LAND ($50,000. FY 2000),
LIBRARY START.UP ($300,000 - FY 2001), AND MC PHERSON PARK ($145,000 - FY 2000, & FY 2001)