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Home My WebLink About2025-02-24 EDC MinutesEULESS DEVELOPMENT CORPORATION BOARD OF DIRECTORS MINUTES February 24, 2025 The Board of Directors of the Euless Development Corporation met on Monday, February 24, 2025, 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 Council Member Tim Stinneford Council Member Jeremy Tompkins Council Member Eddie Price Citizen Member David Brown Citizen Member Carmen Miller Citizen Member Peter Jones City Manager Chris Barker, President Assistant City Manager Steven Viera, First Vice President Director of Planning and Economic Development Michael Warrix, Second Vice President Finance Director Janina Jewell, Treasurer City Secretary / Chief Governance Officer Kim Sutter, Board Secretary Library Director Sherry Knight Director of Parks and Community Services Duane Strawn Assistant Director of Finance Ross Fairclo ITEM NO. 1. CALL TO ORDER Chairman Martin called the meeting to order at 5:30 p.m. ITEM NO. 2 APPROVED MINUTES OF OCTOBER 7, 2024 Director Stinneford motioned to approve the minutes of the October 7, 2024 meeting. Seconded by Director Jones, the motion carried by a unanimous vote. ITEM NO. 3 ACCEPTED ANNUAL AUDIT FOR FISCAL YEAR ENDING SEPTEMBER 30, 2024 Treasurer Janina Jewell expressed her appreciation to Audit Finance professional Jackie Theriot and Assistant Director of Finance Ross Fairclo for their assistance in preparation for the audit. Ms. Jewell introduced Sarah Dempsey, Audit Partner, Weaver L.L.P., to present the findings of the annual audit for the fiscal year ending September 30, 2024. 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 or passed adjustments were made. EDC Meeting Minutes Page 2 of 3 February 24, 2025 Director Stinneford motioned to accept the Euless Development Corporation Independent Auditor's Report from Weaver L.L.P. for the fiscal year ending September 30, 2024. Seconded by Director Miller, the motion carried unanimously. ITEM NO. 4 REVIEWED FINANCIAL REPORT FOR THE QUARTER ENDING DECEMBER 31, 2024 Treasurer Janina Jewell reviewed the Financial Report for the quarter ending December 31, 2024, and stated that sales tax collections through the end of December were $1,954,089, which represents approximately 27 percent of budget. She added that operating and capital expenditures were within budget at $4,239,337 or approximately 35 percent of appropriations, and includes year to date capital expenditures of $2,949,258. The operating fund ending balance as of December 31, 2024, is $5,005,450. The remaining balance in the capital projects fund for projects not yet completed is $5,907,266. The designated balance includes funding for the Texas Star Sports Complex Phase VII design and construction, miscellaneous park improvements, irrigation projects, Wilshire Park improvements, Blessing Branch Park improvements, Parks at Texas Star South Improvements, Parks at Texas Star South Turf Installation, incentives, and contingencies. Treasurer Jewell reviewed' the balances of the following funds: Fund Balance J Undesignated Capital Projects Fund $2,568,294 Available for allocation to future projects. Debt Service Fund $125,054 Debt Reserve Fund *$401,125 *amount required by covenant is $401,075. ITEM NO. 5 HEARD REPORTS ON CURRENT AND UPCOMING PROJECTS Director of Parks and Community Services Duane Strawn presented the Parks update, including Blessings Branch Park lighting and trail improvements; Wilshire Park renovations; Midway Park outdoor volleyball courts completion; Parks, Recreation, and Open Space Master Plan adoption timeline; playground shade.structure upgrades; The Parks at Texas Star South synthetic turf, LED lighting upgrade, and the construction of a new restroom facility; and the redesign of the space where the batting cages were previously located. Library Director Sherry Knight presented the Library update, including the status of the EDC funded projects:. 1) New shelving bins utilized to display the library's picture book collection; 2) School Resource Officers to assist with the afterschool students; and 3) Funding for the Family Place Play Space to be located in the children's area. EDC Meeting Minutes Page 3 of 3 February 24, 2025 Library Director Knight advised of several upcoming events including Mess Fest, the Euless Library Foundation Spring book sale, and HEB Reads! Planning and Economic Development Director Michael Warrix presented an economic development update and advised of the progress of the construction of the HEB Grocery Store, HTeaO on Main Street, as well as several other commercial and new residential developments in the City. Ike ►:1 �J -61 _1ONIQ11 V ki1:4 There being no further business before the Board, the meeting was adjourned at 6:11 p.m. F-ITNITWOOTNT-93 �1 Lin Oa7 rtin Chairman ATTEST: l5 �,.�(� Wim Sutter Secretary