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HomeMy WebLinkAbout2023-11-27 EDC MinutesEULESS DEVELOPMENT CORPORATION BOARD OF DIRECTORS MINUTES November 27, 2023 The Board of Directors of the Euless Development Corporation met on Monday, November 27, 2023, in the Precouncil Conference Room at the City Hall, 201 North Ector Drive, Euless, Texas. The following persons were in attendance: Mayor Linda Martin, Chairman Mayor Pro Tern Eddie Price Council Member Tim Stinneford Council Member Jeremy Tompkins Citizen Member Carmen Deithloff Citizen Member Peter Jones 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 Director of Parks and Leisure Services Duane Strawn Member absent: Citizen Member Jason Turner ITEM NO. 1. CALL TO ORDER Chairman Martin called the meeting to order at 5:40 p.m. ITEM NO. 2 APPROVED MINUTES OF AUGUST 7, 2023 Director Stinneford motioned to approve the minutes of the August 7, 2023 meeting. Seconded by Director Jones, the motion carried by a unanimous vote. SEPTEMBER 1 2023 Treasurer Janina Jewell reviewed the Financial Report (unaudited) for the quarter ending September 30, 2023, and stated that sales tax collections through the end of September were $7,448,650, which represents approximately 108 percent of budget. She added that operating and capital expenditures were within budget at $9,544,938 or approximately 86 percent of appropriations, and includes capital expenditures of $4,996,471. The operating fund ending balance as of September 30, 2023, is $5,440,464. EDC Meeting Minutes Page 2 of 4 November 27, 2023 The remaining balance in the capital projects fund for projects not yet completed is $1,951,019. The designated balance includes funding for the Texas Star Sports Complex Phase VII, miscellaneous park improvements, irrigation projects, Blessing Branch Park improvements, Aquatic Park Facility upgrades, trail lighting at Mid -Cities, incentives, and contingencies. Treasurer Jewell reviewed the balances of the following funds: Fund Balance Undesignated Capital Projects Fund $1,488,955 ,Available for allocation to future projects. Debt Service Fund $17,219 Debt Reserve Fund *$401,125 *amount required by covenant is $401,125. ITEM NO. 4 AUTHORIZED THE EDC PRESIDENT TO EXECUTE FIRST AMENDMENT TO 380 AGREEMENT FOR DEVELOPMENT OF WATERCOLOR PLANNED DEVELOPMENT DISTRICT Deputy City Manager and EDC First Vice President Chris Barker reviewed the scope of the project and advised that an amendment to the agreement is necessary to prescribe the details of the primary water feature to serve as a water storage and reuse supply back up system, and include and dedicate to the City a distribution line that is connected to the City's reclaimed water system as needed. He advised that the amendment is necessary to address a technical issue within state law related to the use of storm runoff and well water to maintain a consistent water level. Director Tompkins motioned to authorize the EDC President to execute the First Amendment to the 380 agreement for development of the Watercolor Planned Development District. Seconded by Director Stinneford, the motion carried unanimously. ITEM NO. 5 CLOSED SESSION The EDC convened into closed session at 5:57 p.m. to deliberate the purchase, exchange, lease or value of real property as authorized by Section 551.072 of the Texas Government Code related to: • 331 N. Main Street and 411 N. Main Street The closed session was recessed at 6:15 p.m. ITEM NO. 6 AUTHORIZED THE EDC PRESIDENT TO EXECUTE LEASE ASSIGNMENT AND ASSUMPTION AGREEMENT AND LANDLORD'S CONSENT TO SUBLEASE AGREEMENT BY AND BETWEEN U.S. CONCRETE, INC. AND ITS SUBSIDIARY REDI MIX, LLC AND SMYRNA READY MIX CONCRETE, LLC. FOR PROPERTY LOCATED AT 331 N. MAIN STREET. EDC Meeting Minutes Page 3 of 4 November 27, 2023 Director Stinneford motioned to authorize the EDC President to execute a Lease Assignment Agreement and Landlord's Consent to Sublease Agreement by and between U.S. Concrete, Inc. and its subsidiary Redi Mix, LLC and Smyrna Ready Mix Concrete, LLC for property located at 331 N. Main Street. Seconded by Director Price, the motion carried unanimously. ITEM NO. 7 AUTHORIZED THE EDC PRESIDENT TO EXECUTE LEASE ASSIGNMENT AND ASSUMPTION AGREEMENT BY AND BETWEEN U.S. CONCRETE, INC. AND SMYRNA READY MIX CONCRETE FOR PROPERTY LOCATED AT 411 N. MAIN STREET. Director Deithloff motioned to authorize the EDC President to execute a Lease Assignment and Assumption Agreement by and between U.S. Concrete, Inc. and Smyrna Ready Mix Concrete, LLC for property located at 411 N. Main Street. Seconded by Director Tompkins, the motion carried unanimously. ITEM NO. 8 HEARD REPORTS ON CURRENT AND UPCOMING PROJECTS Director of Parks and Community Services Duane Strawn presented the Parks update, including completion of the aquatic park facility upgrades, trail lighting at Bob Eden Park and Mid Cities, Wilshire Park renovations, Parks at Texas Star North improvements, pickleball court improvements, addition of volleyball courts, status of greenhouse roof replacement, and status of the Parks Master Plan update. Library Director Sherry Knight presented the Library update, including the status of the installation of additional access control devices and RFID equipment for an additional self - checkout kiosk, an inventory scanning wand, and a meeting counter. Additionally, she advised of improvements to the family place and the children's area, and reported that the Euless Library Foundation undertook a fundraiser for the addition of a Legacy Lab, which will include a suite of equipment that will allow patrons to digitize photographs, convert VHS and audio tapes and other digital media for long-term preservation. Planning and Economic Development Director Michael Warrix presented an economic development update and advised of the addition of a Raising Cane's restaurant to be located on Industrial Boulevard (FM 157) north of West Euless Boulevard, new commercial developments, including the addition of and opening of a number of restaurants. ITEM NO. 9 RECOGNITION OF OUTGOING EDC DIRECTOR CARMEN DEITHLOFF Director Price recognized outgoing Director Deithloff and presented a certificate in recognition for her 24 years of service. Ms. Deithloff has served as a Director on the EDC Board since 1999. EDC Meeting Minutes Page 4 of 4 November 27, 2023 ITEM NO. 10 ADJOURNED There being no further business before the Board, the meeting was adjourned at 7:04 p.m. APPROVED: A�'�7f l'� Linda artin Chairman ATTEST: Kim Sutter Secretary