HomeMy WebLinkAbout2022-08-08 EDC MinutesEULESS DEVELOPMENT CORPORATION
BOARD OF DIRECTORS
MINUTES
August 8, 2022
The Board of Directors of the Euless Development Corporation met on Monday, August 8,
2022, in the Precouncil Conference Room at City Hall in the Municipal Complex, 201 North
Ector Drive, Euless, Texas.
The following persons were in attendance:
Mayor Linda Martin, Chairman
Mayor Pro Tern Eddie Price (arrived at 6:18 p.m.)
Council Member Tim Stinneford
Council Member Jeremy Tompkins
Citizen Member Carmen Deithloff
Citizen Member Pete Jones
Citizen Member Jason Turner (arrived at 5:41 p.m.)
City Manager Loretta Getchell, President
Deputy City Manager Chris Barker, First Vice President
Director of Planning and Economic Development Michael Warrix,
Finance Director Janina Jewell, Treasurer
City Secretary Kim Sutter, Board Secretary
Assistant City Manager Wes Rhodes
Director of Parks and Community Services Ray McDonald
Library Director Sherry Knight
ITEM NO. 1. CALL TO ORDER
Chair Linda Martin called the meeting to order at 5:33 p.m.
ITEM NO. 2 APPROVED MEETING MINUTES
Second Vice President
Director Stinneford motioned to approve the minutes of the February 21, 2022 meeting as
presented. Seconded by Director Jones, the motioned carried by a unanimous vote.
ITEM NO. 3 REVIEWED FINANCIAL REPORT FOR THE QUARTER ENDING
JUNE 30, 2022
Treasurer Janina Jewell reviewed the Financial Report for the quarter ending June 30,
2022, including revenues and expenditures as follows:
Beginning Fund Balance for FY 2021/22
Revenues
Sales Tax Collections
Interest Income
Other Revenue
Total Revenues
Expenditures
Parks
$5,550,310
$5,269,930 (91 percent of budget)
$8,323
$88,317
$5,366.570
$1,441,343
EDC Meeting Minutes
Page 2 of 4 August 8, 2022
Library
$726,249
Economic Development
$171,189
Other
$674,672
Capital Expenditures
$1,069,283
Total Expenditures
$4,082,736 (61 percent of appropriations)
Ending Fund Balance
$6,834,144
She reviewed the capital expenditure projects.
The remaining balance in the capital projects fund for existing projects is $1,287,926, The
designated balance consists of funding for the Texas Star Sports Complex Phase VII
design and construction, miscellaneous park improvements, irrigation projects, Blessing
Branch Park improvements, incentives, and contingencies. Undesignated capital
projects funds in the amount of $122,442 remain available for allocation to future projects.
Additionally, she reviewed the activity related to the debt service and debt reserve funds
and provided the current fund balances:
Debt Service Fund Balance $221,012
Debt Reserve Fund Balance *$401,125
*amount required by bond covenant is $401,125
ITEM NO.4. HELD PUBLIC HEARING FOR FISCAL YEAR 2022-2023 BUDGET
WHICH PROVIDES CONTINUED FUNDING FOR PARKS AND
PARK FACILITIES, LIBRARY IMPROVEMENTS AND ECONOMIC
DEVELOPMENT PROJECTS AS SET FORTH IN THE OFFICIAL
BALLOT DATED JANUARY 16, 1993.
Chair Martin opened the public hearing at 5:37 p.m. to receive comments related to the
proposed Fiscal Year 2022-2023 budget.
Treasurer Jewell advised that the EDC Operating Budget is expected to end Fiscal Year
2022 with a fund balance of $6,784,364, which is almost $3.1 million higher than originally
estimated. This is due to increased sale tax revenues and capital purchases that are not
yet complete that will carry forward into Fiscal Year 2023. She reviewed the Fiscal Year
2023 proposed operating budget and advised that sales tax revenues are expected to
increase by one percent over the current year budget.
She advised that the expenditures for Fiscal Year 2023 are $5,342,175, and the projected
revenues are $7,008,599.
Treasurer Jewell outlined the FY2022 approved and the FY2023 recommended capital
expenditures associated with the capital projects and requested each Director present
their requested items to the Board:
FY2022
Budget
FY2022
Projected
FY2023
Proposed
FY 2022 Approved Capital Expenditures
$1,804,804
$1,099,897
$704,907
FY 2023 Recommended Capital Expenditures
*$4,614,078
EDC Meeting Minutes Page 3 of 4 August 8, 2022
Total Capital Expenditures I 1 1 $5,318,985
*Access control hardware, library study pods, facility painting, utility vehicle, transfers to CIP for irrigation,
Wilshire Park upgrades, trail lighting, miscellaneous parks improvements, pickleball courts, incentives,
aquatic facilities upgrade, Carr Park trail connection, Texas Star Sports Complex Phase VII, additional
parking for Parks at Texas Star North, and Kiddie Carr Park improvements.
Treasurer Jewell stated that with the approval of the proposed budget, the fund would
have a projected ending fund balance of $3,131,803, which exceeds the 60 days of
working capital of $878,166.
Treasurer Jewell advised that the proposed Debt Reserve Fund is fully funded in the
amount of $401,125.
Additionally, Treasurer Jewell advised that the lowest bid received for the Wilshire Park
Improvements is in excess of the budgeted projections, and stated that staff is requesting
an additional allocation of $375,000 to proceed with completing the improvements.
Director of Parks and Community Services McDonald advised that the Wilshire Park
Improvements include additional parking, permanent restroom facilities, a new pavilion,
ADA compliant trail system, new playground, new picnic pads and picnic tables, new
grills, ADA compliant ramp to fishing pier, landscaping, and irrigation.
Director Stinneford expressed his concern with proceeding forward with the project given
the increased cost, current supply change issues, and a possible recession. He
requested that the contractor submit an itemized cost list so that staff can evaluate
possible cost savings.
City Manager Getchell advised that she does not believe delaying the project would
reduce the cost, and staff will work with the chosen contractor to reduce cost where
possible.
Director Stinneford requested that staff consider evaluating Open Path, a keyless door
access control system, when considering options for an access card control system for
the Library.
Chair Martin asked to hear from any proponents followed by opponents of the proposed
budget. There being no one requesting to speak, Chair Martin closed the public hearing
at 6:25 p.m.
ITEM NO. 5. AMENDED THE FISCAL YEAR 2021-2022 EDC BUDGET AND
APPROVED FISCAL YEAR 2022-2023 OPERATING AND CAPITAL
BUDGET, WHICH PROVIDES FUNDING FOR ONGOING PARK
AND PARK FACILITY PROJECTS, LIBRARY IMPROVEMENT,
AND ECONOMIC DEVELOPMENT PROJECTS AND PROVIDES
FOR DEBT SERVICE AND ADMINISTRATIVE FEES RELATED TO
SUCH PROJECTS.
Director Stinneford motioned to approve amending the Fiscal Year 2021-2022 EDC budget
and approve the Fiscal Year 2022-2023 EDC Operating and Capital Budget, which provides
funding for ongoing park and park facility projects, library improvement projects, and
EDC Meeting Minutes Page 4 of 4 August 8, 2022
economic development projects, and provides for debt service and administrative fees
related to such projects, with an additional allocation of $375,000 for the Wilshire Park
Improvements. Seconded by Director Turner, the motioned carried by a unanimous vote.
ITEM NO. 6. HEARD REPORTS ON CURRENT AND UPCOMING PROJECTS.
Director of Parks and Community Services McDonald provided an update related to the
Blessing Branch Trail Project and The Parks at Texas Star North (formerly Softball World)
related to athletic office renovations. He advised that the batting cages located at The Parks
at Texas Star South will be removed and replaced with open green space.
Library Director Sherry Knight presented an update related to the success of the HEB Reads
Summer reading program. She advised of several upcoming special events that the library
staff will host over the summer months, a software upgrade, and the Euless Library
Foundation fundraiser to be held Sunday, September 25, 2022.
Director of Planning and Economic Development Michael Warrix provided a development
update, including the status of commercial and residential developments within the City.
ITEM NO. 7. ADJOURN
There being no further business before the Board, the meeting was adjourned at 6:44 p.m.
APPROVED:
ATTEST:
. 4Ki
Linda artin, Chai utter, Secretary