HomeMy WebLinkAbout2021-03-08 EDC Minutes EULESS DEVELOPMENT CORPORATION
BOARD OF DIRECTORS
MINUTES
March 8, 2021
The Board of Directors of the Euless Development Corporation met on Monday, March 8,
2021, in the Council Chambers at Euless City Hall, 201 N. Ector Drive, Euless, Texas
The following persons were in attendance:
Mayor Linda Martin, Chairman
Council Member Jeremy Tompkins
Council Member Tim Stinneford
Council Member Eddie Price
Citizen Member Sonja Adams (video conference)
Citizen Member Carmen Deithloff
Citizen Member Jason Turner
City Manager Loretta Getchell, President
Deputy City Manager Chris Barker, First Vice President
Director of Planning and Economic Development Mike Collins, Second Vice President
Finance Director Janina Jewell, Treasurer
City Secretary Kim Sutter, Board Secretary
Director of Parks and Community Services Ray McDonald
Library Administrator Sherry Knight
Assistant Finance Director Jackie Theriot
Accounting Manager Ross Fairclo
ITEM NO. 1. CALL TO ORDER
Chairman Linda Martin called the meeting to order at 5:31 p.m.
ITEM NO. 2 APPROVED MINUTES OF NOVEMBER 23, 2020
Director Stinneford motioned to approve the minutes of the November 23, 2020 meeting.
Seconded by Director Tompkins, the motion carried by a unanimous vote.
ITEM NO. 3 ACCEPTED ANNUAL AUDIT FOR FISCAL YEAR ENDING
SEPTEMBER 30, 2020
Treasurer Janina Jewell introduced Sarah Dempsey, Partner, Weaver L.L.P., to present the
findings of the annual audit for the fiscal year ending September 30, 2020.
Ms. Dempsey stated that the audit was conducted in accordance with generally accepted
auditing standards and received an Unmodified Opinion, the highest level of assurance
possible. She further advised that no significant or material weaknesses were identified,
and no audit adjustments were made.
EDC Meeting Minutes Page 2 of 3 March 8, 2021
Director Stinneford motioned to accept the Euless Development Corporation Independent
Auditor's Report from Weaver L.L.P. for the year ending September 30, 2020. Seconded
by Director Deithloff, the motion carried unanimously.
ITEM NO. 4 REVIEWED FINANCIAL REPORT FOR THE QUARTER ENDING
DECEMBER 31, 2020
Treasurer Janina Jewell reviewed the Financial Report for the quarter ending December
31, 2020, and stated that the sales tax collections through the end of December were
$1,410,391, which represents approximately 29 percent of budget. She added that
operating and capital expenditures were within budget at$1,035,386 or approximately 19
percent of appropriations. She advised that the year to date capital expenditures are
$217,585.
The operating fund ending balance as of December 31, 2019, is $3,984,044
The remaining balance in the capital projects fund for projects not yet completed is
$2,003,249. The designated balance includes funding for the Texas Star Sports Complex
VII design and construction, miscellaneous park improvements, irrigation projects, Carr
Park improvements, incentives, and contingencies.
Treasurer Jewell reviewed the balances of the following funds:
Fund Balance
Undesignated Capital Projects Fund $120,586 Available for allocation to future
projects.
Debt Service Fund $108,985 Available for debt payment
Debt Reserve Fund *$391,500 Excess reserves will be used to pay
final debt service payments.
*amount required by covenant is $391,067.
ITEM NO. 5 HEARD REPORTS ON CURRENT AND UPCOMING PROJECTS
Director of Parks and Community Services Ray McDonald provided updates related to Carr
Park, The Parks at Texas Star Phase VII, and the Wilshire Park redevelopment plan. He
advised that plans are underway to reopen the facilities following the closures last year due
to the COVID-19 pandemic, including the senior center and the aquatic park. Additionally,
he reported that the recreation center was opened up as a `warming station' for residents
who lost power and experienced broken water pipes as a result of the recent winter storm.
He reported that several hundred individuals utilized the facility over multiple days.
Library Administrator Sherry Knight presented a brief overview of the library services, and
advised that the library was reopened December 7, 2021, following the recent renovations.
She advised of several revisions to the library operations, including the elimination of
overdue fees and the implementation of a non-resident fee. Additionally, she advised that
library staff will host a vaccination registration event on March 10 and also will be
participating in the May 1 kick-off event for HEB Reads, a summer reading program.
EDC Meeting Minutes Page 3 of 3 March 8, 2021
Planning and Economic Development Director Mike Collins presented an economic
development update, including Glade Park, Founders Parc (Midtown), developments at
State Highway 360 at Harwood Road, and two new residential developments.
ITEM NO. 6 ADJOURN
There being no further business before the Board, the meeting was adjourned at 6:04 p.m.
APPROVED: ATTEST:
da Martin i Sutter
Chairman ecretary