The URL can be used to link to this page

Home My WebLink About1999-07-29 EDC Minutes EULESS DEVELOPMENT CORPORATION BOARD OF DIRECTORS MINUTES JULY 29, 1999 The Board of Directors of the Euless Development Corporation met on Thursday, July 29, 1999, in the Building A Conference Room, 201 North Ector Drive, Euless Texas. The following persons were in attendance: Mayor Mary Lib Saleh, Chairman Council Member Bobby Baker, Vice Chairman Mayor Pro Tem Charles Miller Council Member Carl Tyson Citizen Member Lefty Lynn Maloney Citizen Member Wayne Marrs Citizen Member Sonja Adams City Manager Joe Hennig, President Deputy City Manager Gary McKamie, First Vice President Finance Director Loretta Getchell, Treasurer City Secretary Susan Crim, Secretary Budget and Treasury Manager Vicki Rodriguez Billy Owens CALL TO ORDER The meeting was called to order at 4:15 p.m. by Chairman Mary Lib Saleh. Chairman Saleh introduced new board member, Wayne Marrs, who was recently appointed to take the place of Glenn Porterfield after his election to the City Council. APPROVAL. MINUTES OF MARCH 18. 1999 MEETING Upon motion by Charlie Miller and second by Letty Lynn Maloney, the minutes of the March 18, 1999, meeting were approved by unanimous vote. REVIEW OF FINANCIAL REPORTS FOR QUARTERS ENDING MARCH 31. 1999, AND JUNE 30. 1999 Loretta Getchell reviewed the financial reports for the quarters ending March 31, 1999, and June 30, 1999, and explained the sales tax error that occurred in the State Comptroller's office that will cause the Euless Development Corporation to have to pay back approximately $150,000 in sales tax. She stated the State Comptroller's Office has approved an interest free ten-year repayment plan beginning October 1, 1999 for sales tax erroneously remitted to the Euless Development Corporation. She said the estimated lost revenue for the Corporation would be approximately$108,000 per year. EULESS DEVELOPMENT CORPORATION JULY 29. 1999 PAGE 2 -^ She reported that sales tax collections are lower than budgeted and that operating expenditures are within budget. PUBLIC HEARING ON FISCAL YEAR 1999-2000 BUDGET Chairman Saleh opened a public hearing and Loretta Getchell presented the proposed budget for the Euless Development Corporation for Fiscal Year 1999-2000. She stated the budget included a salary package for the Parks Department and Library personnel who are paid from this fund. She reported that the conversion to mowing contractors in the Parks Department has replaced some of the personnel costs. Ms. Getchell stated that the funds for the Midway Recreation Teen Room and the Park Maintenance Building will be carried over into the FY00 budget and $35,000 for Library books and materials will be added. Lefty Lynn Maloney questioned the reduction in utilities and the reduction in Parks Department contingency. Loretta Getchell replied that the utilities had evidently been over projected in the current year and that the reduction in the Parks Department contingency was transferred to Supplies and Miscellaneous. Ms. Getchell stated that the Library Books Capital Program will be moved into the main part of the budget if approved by the EDC Board. Ms. Maloney asked about the decreased interest projection. Budget and Treasury Manager Vicki Rodriguez reported that the last nine months have shown the same rate of decrease as projected in this budget. Chairman Saleh requested the Board consider contributing $10,000 to furnish a room in the new HEB Harris Methodist Hospital Women=s Center. She stated that each of the three cities, Hurst, Euless and Bedford, donated a room in the original hospital and that the amount could be paid in one lump sum or over a three-year period. Chairman Saleh pointed out the contribution the Hospital makes to activities held in all three cities. Upon motion by Lefty Lynn Maloney and second by Sonja Adams, a contribution was approved for a lump sum donation of $10,000 to be made from the EDC Fiscal Year 1999 Budget for a Mother-Baby Suite in the HEB Harris Methodist Hospital Women=s Center. Ms. Getchell stated the $10,000 for the Midway Recreation Center Teen Room in the current year=s budget could be used for the Hospital, and the money for the teen room would be put in the Fiscal Year 2000 Budget. Sonja Adams asked the status of the Park Maintenance Building. President Hennig replied that the costs have been found to be greater than first thought, and the project has been put on hold at this time. He stated the City Council has not made a decision on where the facility should be located. EULESS DEVELOPMENT CORPORATION JULY 29. 1999 PAGE 3 Vice Chairman Baker stated he was not opposed to the Tejas Building for the Park Maintenance Building, but he was not sure it was the best choice in view of the storage needs of the City. President Hennig stated the Parks Department personnel have not been sure it would be the best location. He stated the Tejas Building would not be large enough for the city-wide storage needs and the Parks Maintenance Department needs. Charlie Miller asked if the funds needed for Wilshire Park would come from the economic development portion of the EDC budget. Loretta Getchell stated that $150,000 is available in the current year budget. There being no further discussion of the Fiscal Year 2000 EDC budget, Chairman Saleh closed the public hearing. APPROVAL FISCAL YEAR 1999-2000 BUDGET Upon motion by Sonja Adams and second by Wayne Marrs, the Fiscal Year 1999-2000 budget of the Euless Development Corporation was approved by unanimous vote. UPDATE ON CURRENT PROJECTS President Hennig reported that the contract involving improvements at Wilshire Park is being prepared for City Council review and that Mr. Patel is still planning to work with the City to improve the pond and continue with completion of it. The City has reworked the parking lot and put in picnic tables. He stated there were no EDC monies involved. Mr. Hennig reported that the Dallas Stars Hockey Club negotiations are continuing for the Dr. Pepper Stars Center to be built in Euless. He stated the project originally had been planned with the City providing the interim financing for the project, but the City=s bond counsel has determined that it could not be accomplished that way. He said the Stars have now negotiated an arrangement for Centex to provide the interim financing and build the building with Wells Fargo participating. The City of Euless will have an agreement that will stipulate we will buy the building and the Stars will lease it back from the City on a long- term lease. The Euless Development Corporation Board will not be involved in that process, but will be asked to participate in the sale of one million dollars in debt to include 300 parking spaces, landscaping, irrigation, fencing and an entryway. Mr. Hennig stated the EDC Board will be asked to consider that in the near future. SCHEDULE NEXT MEETING The next regular meeting was scheduled for Tuesday, November 9, 1999 at 3:30 p.m. EULESS DEVELOPMENT CORPORATION JULY 29, 1999 PAGE 4 ADJOURN There being no further business before the Corporation, the meeting was adjourned at 5:25 p.m. APPROVED: Mary Lib Sleh Chairman ATTEST: ",/' san Crim Secretary f Half Cent Sales Tax Fund Operating Budget Proposed FY 2000 FY 1999 FY 1999 FY 2000 Budget Projected Proposed [Beginning Fund Balance $752,723 $752,723 $770,286 1 REVENUES; Sales Tax Collections 2,050,000 1,957,662 2,033,488 Interest Income 65,000 60,000 60,000 Operating Revenue 2,115,000 2,017,662 2,093,488 EXPENDITURES; Parks Personnel (175,068) (175,068) (139,099) Supplies&Misc. (19,500) (19,500) (24,500) Advertising (5,000) (5,000) (5,000) Contingencies (25,000) (25,000) (20,000) Utilities (85,000) (85,000) (77,000) Equipment Notes (38,556) (38,556) (37,873) (348,124) (348,124) (303,472) Library 283,005 (283,005) ,44 Personnel ( ) ) (2925( ) Economic Development Personnel (47,082) (47,082) (48,548) Supplies&Misc (3,200) (3,200) (3,200) Special Services (10,000) (10,000) (7,500) Advertising and Promotions (15,000) (15,000) (14,000) Travel (8,000) (8,000) (8,000) Professional Services (10,000) (10,000) (10,000) Subscriptions 0 0 (1,500) Professional Dues 0 0 (600) Communication Services 0 0 (350) Incentives (25,000) (25,000) (25,000) Miscellaneous Projects (10,000) (10,000) (10,000) Art(2%of Sales Tax Collections) (40,000) (40,000) (40,000) (168,282) (168,282) (168,698) Debt and Bank Charges (912,188) (912,188) (899,294) Audit Services (4,000) (4,000) (4,000) Undesignated Contingency (250,000) (159,500) (250,000) Operating Expenditures ($1,965,599) ($1,875,099) ($1,917,918) Excess Revenue over Expenditures $149,401 $142,563 $175,570 Transfer to 1/2 Cent CIP-Hike Trail ($100,000) ($100,000) $0 Capital Programs-Midway Teen Room ($10,000) $0 ($10,000) Capital Programs-Midway Fitness Equipment ($25,000) ($25,000) $0 Capital Programs-Park Building ($150,000) $0 ($150,000) Capital Programs-Mowing Contract $0 $0 ($51,866) Subtotal-One Time Expenditures {S285.000) (5125.000) (5211.866) TOTAL EXPENDITURES ($2,250,599) ($2,000,099) ($2,129,784) Available Fund Balance $617,124 $770,286 $733,990 1 Capital Programs-Library Books ($35,000) [Projected Ending Fund Balance,FY99-00 $698,990