HomeMy WebLinkAbout2023-02-27 EDC MinutesEULESS DEVELOPMENT CORPORATION
BOARD OF DIRECTORS
MINUTES
February 27, 2023
The Board of Directors of the Euless Development Corporation met on Monday, February
27, 2023, in the Travis Room at the Texas Star Conference Centre, 1400 Texas Star
Parkway, Euless, Texas.
The following persons were in attendance:
Mayor Linda Martin, Chairman
Mayor Pro Tern Eddie Price
Council Member Jeremy Tompkins
Citizen Member Carmen Deithloff
Citizen Member Peter Jones
Citizen Member Jason Turner (arrived at 5:49 p.m.)
City Manager Loretta Getchell, President
Deputy City Manager Chris Barker, First Vice President
Director of Planning and Economic Development Michael Warrix, Second Vice President
Finance Director Janina Jewell, Treasurer
City Secretary Kim Sutter, Board Secretary
Library Director Sherry Knight
Member absent:
Council Member Tim Stinneford
ITEM NO. 1. CALL TO ORDER
Chairman Martin called the meeting to order at 5:30 p.m.
ITEM NO.2 APPROVED MINUTES OF AUGUST 8, 2022
Director Tompkins motioned to approve the minutes of the August 8, 2022 meeting.
Seconded by Director Deithloff, the motion carried by a unanimous vote.
ITEM NO. 3 ACCEPTED ANNUAL AUDIT FOR FISCAL YEAR ENDING
SEPTEMBER 30, 2022
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, 2022.
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 deficiencies or material weaknesses were
identified, and no audit adjustments were made.
EDC Meeting Minutes Page 2 of 3 February 27, 2023
Director Jones motioned to accept the Euless Development Corporation Independent
Auditor's Report from Weaver L.L.P. for the fiscal year ending September 30, 2022.
Seconded by Director Price, the motion carried unanimously.
ITEM NO. 4 REVIEWED FINANCIAL REPORT FOR THE QUARTER ENDING
DECEMBER 31, 2022
Treasurer Janina Jewell reviewed the Financial Report for the quarter ending December
31, 2022, and stated that sales tax collections through the end of December were
$1,884,676, which represents approximately 27 percent of budget. She added that
operating and capital expenditures were within budget at $5,739,328 or approximately 52
percent of appropriations, and includes year to date capital expenditures of $4,783,726.
The operating fund ending balance as of December 31, 2022, is $3,487,871.
The remaining balance in the capital projects fund for projects not yet completed is
$4,414,324. The designated balance includes funding for the Texas Star Sports Complex
Phase VII design and construction, miscellaneous park improvements, irrigation projects,
Blessing Branch Park improvements, Midway Park pickleball courts, Parks at Texas Star
additional parking lot, incentives, and contingencies.
Treasurer Jewell reviewed the balances of the following funds:
Fund Balance J
Undesignated Capital Projects Fund $152,627 Available for allocation to future
projects.
Debt Service Fund $111,310 Available for debt payment
Debt Reserve Fund *$401,125
*amount required by covenant is $401,125.
ITEM NO. 5 HELD PUBLIC HEARING AND APPROVED EDC RESOLUTION
NO. 24-23
Chairman Martin opened the public hearing at 5:40 p.m.
Deputy City Manager and EDC First Vice President Chris Barker reviewed the scope of
the project and advised that the EDC is asked to participate in the construction of hike
and bike trails in connection with the Watercolor Planned Development located at State
Highway 183 and State Highway 360 at an estimated cost of $250,000.
City Manager and EDC President Loretta Getchell advised that the contribution would be
payable after completion of the water feature and the hike and bike trails and will ensure
that. the neighborhood retail and the water feature will be developed to meet the
expectations of area property owners as well as visitors to the development.
Chairman Martin asked to hear from any proponents and opponents of the request.
Seeing none, Chairman Martin closed the public hearing at 5:53 p.m.
EDC Meeting Minutes Page 3 of 3 February 27, 2023
Director Tompkins motioned to approve EDC Resolution No. 24-23, approving a project for
the construction of hike and bike trails in connection with the Euless Watercolor
Development and providing for the undertaking and expenditure of funds therefor.
Seconded by Director Deithloff, the motion carried unanimously.
ITEM NO. 6 AUTHORIZED THE EDC PRESIDENT TO EXECUTE 380
AGREEMENT FOR DEVELOPMENT OF WATERCOLOR
PLANNED DEVELOPMENT DISTRICT AND AUTHORIZED THE
EXPENDITURE OF FUNDS IN ACCORDANCE WITH THE
AGREEMENT
Director Turner motioned to authorize the EDC President to execute a 380 agreement for
development of the Watercolor Planned Development District and authorized the
expenditure of funds in accordance with the agreement. Seconded by Director Price, the
motion carried unanimously.
ITEM NO.7 HEARD REPORTS ON CURRENT AND UPCOMING PROJECTS
Deputy City Manager Barker presented the Parks update, including the Parks at Texas Star
North improvements, aquatic center upgrades, addition of outdoor pickleball courts,
Blessings Branch Trail improvements, and Wilshire Park renovations.
Library Director Sherry Knight presented the Library update, including circulation statistics,
public computer usage, hotspot usage, class offerings, and upcoming events.
Planning and Economic Development Director Michael Warrix presented an economic
development update and advised of the progress of several commercial developments in
the City.
ITEM NO. 8 ADJOURNED
There being no further business before the Board, the meeting was adjourned at 6:11 p.m.
�i2a Martin
Chairman
ATTEST:
Kira Sutter
Secretary