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HomeMy WebLinkAbout2000-06-27 EDC Minutes EULESS DEVELOPMENT CORPORATION BOARD OF DIRECTORS MINUTES JUNE 27, 2000 The Board of Directors of the Euless Development Corporation met on Tuesday, June 27, 2000, in the Conference Room of Building A at the Municipal Complex, 201 North Ector Drive, Euless Texas. The following persons were in attendance: Mayor Mary Lib Saleh, Chairman Council Member Carl Tyson Council Member Charlie Miller Citizen Member Wayne Marrs Citizen Member Sonja Adams Citizen Member Carmen Deithloff City Manager Joe Hennig, President Deputy City Manager Gary McKamie, First Vice President Director of Economic Development Andrea Baxter, Second Vice President Finance Director Loretta Getchell, Treasurer City Secretary Susan Crim, Secretary Director of Administration Tom Cox Director of Community Services Rick Herold Council Member Bobby Baker, Vice Chairman, was not present. Council Member Veva Lou Massey was present in the audience. CALL TO ORDER Chairman Mary Lib Saleh called the meeting to order at 3:07 p.m. APPROVAL OF MINUTES OF FEBRUARY 7. 2000 MEETING Upon motion by Charlie Miller and second by Carmen Deithloff, the minutes of the February 7, 2000, meeting were approved by unanimous vote. REVIEW OF FINANCIAL REPORT FOR QUARTER ENDING MARCH 31. 2000 Director of Finance Loretta Getchell reviewed the Financial Report for the quarter ending March 31, 2000, and pointed out that the format had been changed to make it easier to track the capital projects. Ms. Getchell stated that sales tax receipts are on target. EULESS DEVELOPMENT CORPORATION JUNE 27, 2000 PAGE 2 EULESS DEVELOPMENT CORPORATION COMPLIANCE REQUEST Chairman Saleh reported that City Attorney Bob McFarland submitted a letter to the Board reporting that his review of the Corporation's expenditures for fiscal year 1999 reflects that expenditures were made only for approved projects. AUTHORIZATION OF EXECUTION OF LEASE WITH BEALL CONCRETE ENTERPRISES, LTD., FOR FORMER FIRE STATION NO. 2 Tom Cox reported that Butler Concrete had merged with Beall Concrete Enterprises and revised their plans for the remodel of former Fire Station No. 2. He stated the contract being considered with Beall Concrete is the same document as the one previously approved with Butler Concrete except the production of Beall Concrete, and therefore the revenues, will be greater than expected from Butler Concrete. Originally Butler Concrete was expected to bring in revenues of approximately $750,000 over a five year period. Now Beall expects to produce revenues to the City of approximately $1,500,000 in five years. They need to occupy the building by January 1, 2001. The contract stipulates that Beall will pay rent if they do not achieve the minimum expected revenues. Charlie Miller asked if a credit report had been secured on Beall. Mr. Cox stated that the contract would not be signed until their credit had been certified as good. Wayne Marrs asked Tom Cox to get a copy of Beall Concrete's financials. Wayne Marrs moved to execute a contract with Beall Concrete Enterprises, Ltd., for the lease of former Fire Station No. 2, with the provision that city officials look at their financials and become satisfied with them. Sonja Adams seconded the motion and the vote was unanimous. Carl Tyson stated he was concerned because Beall is a limited partnership and that he would like a review by an auditing firm. After discussion it was decided that Ms. Getchell would confer with Carl Tyson and Carmen Deithloff for their opinions of the financial data she receives on Beall Concrete. AUTHORIZATION OF EXPENDITURE OF FUNDS FOR FORMER FIRE STATION NO. 2 Tom Cox stated that the total project cost for the purchase and refurbishing of former Fire Station No. 2 to be leased to Beall Concrete Enterprises, Ltd., would be approximately $599,600, including the purchase of the building and adjacent land, remodeling, asbestos and TNRCC remediation, parking lot paving and architectural services. This cost would be reduced by the City's funding for remodeling of $167,000 with the net cost to the Euless Development Corporation being $432,600. The Corporation authorized the expenditure of $235,500 at their February 7, 2000, meeting and an additional $197,000 will be required to complete the remodeling. EULESS DEVELOPMENT CORPORATION JUNE 27, 2000 PAGE 3 Upon motion by Wayne Marrs and second by Charlie Miller, the expenditure of $197,000 for the refurbishing of former Fire Station No. 2 to be leased to Beall Concrete Enterprises was approved by unanimous vote. AUTHORIZATION OF EXPENDITURE OF FUNDS FOR MIDWAY RECREATION CENTER City Manager Joe Hennig stated that the Corporation had previously approved an expenditure of $100,000 for a new wood gym floor at Midway Recreation Center, but the actual cost of the floor was $66,195, leaving a balance of $33,805. The Recreation Department has requested to spend $12,500 of the$33,805 to purchase a curtain divider to be installed in the gym that would enable them to conduct two activities at the same time. Upon motion by Sonja Adams and second by Carmen Deithloff, the expenditure of$12,500 was authorized by unanimous vote for the purchase of a curtain divider to be installed in the gym area of the Midway Recreation Center. PUBLIC HEARING ON PROPOSED PROJECT INVOLVING PARK IMPROVEMENTS WITHIN WILSHIRE PARK Chairman Saleh opened a public hearing to consider a proposed project involving park improvements with Wilshire Park. Joe Hennig stated that the City has been discussing improvements for Wilshire Park for several years and the work is now at the stage where the Corporation will need to authorize funding in the amount of $148,158. This public hearing is necessary in the process to declare the project. Charlie Miller asked if Al Patel had completed his part of the agreement regarding these park improvements. Director of Economic Development Andrea Baxter replied that Mr. Patel was up-to-date in keeping his part of the agreement and was in fact ahead on the tree mitigation. There being no proponents or opponents, Chairman Saleh closed the public hearing. APPROVAL OF RESOLUTION NO. 10-00 AUTHORIZING A PROJECT INVOLVING PARK IMPROVEMENTS WITHIN WILSHIRE PARK Upon motion by Wayne Marrs and second by Sonja Adams, Resolution No. 10-00 authorizing a project involving park improvements within Wilshire Park was approved by unanimous vote. AUTHORIZATION OF EXPENDITURE OF FUNDS FOR WILSHIRE PARK PROJECT Upon motion by Charlie Miller and second by Wayne Marrs the expenditure of $150,000 from contingency for improvements within Wilshire Park was approved by unanimous vote. EULESS DEVELOPMENT CORPORATION JUNE 27, 2000 PAGE 4 • ADJOURN There being no further business before the Board, the meeting was adjourned at 4:10 p.m. APPROVED: di AL.-ail& 0LlA Mary Lib ''-Ieh Chairman ATTEST: Susan Crim Secretary