HomeMy WebLinkAbout2018-06-27 EDC Minutes EULESS DEVELOPMENT CORPORATION
BOARD OF DIRECTORS
MINUTES
June 27 , 2018
The Board of Directors of the Euless Development Corporation met on Wednesday , June
27 , 2018 , in the Precouncil Conference Room at City Hall in the Municipal Complex , 201
N orth Ector Drive , Euless , Texas .
The following persons were in attendance :
Mayor Linda Martin , Chairman
Council Member Linda Eilenfeldt , Vice-Chair
Mayor Pro Tern Tim Stinneford (arrived at 6 : 11 p . m . )
Council Member Jeremy Tompkins
Citizen Member Sonja Adams
Citizen Member Jason Turner
City Manager Loretta Getchell , President
Deputy City Manager Bob Freeman , First Vice President
D irector of Planning and Economic Development Mike Collins , Second Vice President
Finance Director Janina Jewell , Treasurer
City Secretary Kim Sutter, Board Secretary
Assistant City Manager Chris Barker
D irector of Parks and Community Services Ray McDonald
Library Administrator Sherry Knight
Corporation member absent :
Citizen Member Carmen Deithloff
ITEM NO . 1 . CALL TO ORDER
Chairman Linda Martin called the meeting to order at 6 : 08 p . m .
ITEM NO . 2 APPROVED MINUTES OF MARCH 12 , 2018
D irector Stinneford motioned to approve the minutes of the March 12 , 2018 meeting .
Seconded by Director Adams , the motion carried by a unanimous vote .
ITEM NO . 3 REVIEWED FINANCIAL REPORT FOR THE QUARTER ENDING
MARCH 31 , 2018
Finance Director Janina Jewell reviewed the Financial Report for the quarter ending
March 31 , 2018 , and stated that the sales tax collections through the end of March were
$2 , 569 , 009 , which represents approximately 46 percent of budget . She reported a six
percent decrease in revenues when compared with prior year to date , and advised that
the decrease is attributed to the sales tax collections in the construction industry
specifically related to government contracts . She added that operating and capital
expenditures were within budget at $2 , 919 , 195 or approximately 43 percent of
EDC Meeting Minutes Page 2 of 3 June 27, 2018
appropriations . She advised that the year to date capital expenditures are $ 1 , 249 , 171
and include expenditures associated with park and library enhancements .
The operating fund ending balance as of March 31 , 2018 , is $2 , 037 , 551 .
The remaining balance in the capital projects fund for projects not yet completed is
$ 2 , 163 , 973 . The designated balance includes funding for miscellaneous park
improvements , irrigation projects , incentives , and the library remodel design .
Treasurer Jewell reviewed the balances of the following funds :
Fund Balance
U ndesignated Capital Projects Fund $ 96 , 706 Available for allocation to future
projects .
D ebt Service Fund $ 19 , 918 Available for debt payment
D ebt Reserve Fund $ 116 , 776
( Reserve level $40 , 572 )
ITEM NO . 4. DISCUSSION OF FY 2018-2019 EDC BUDGET INCLUDING
CAPITAL AND SUPPLEMENTAL REQUESTS AND CAPITAL
IMPROVEMENTS PLAN
D irector of Parks and Community Services Ray McDonald reviewed the capital and
supplemental request items for the Parks and Community Services , including a software
upgrade , equipment purchase , park enhancements and maintenance . Additionally , he
reviewed the capital projects request , including Texas Star Sports Complex Phase V, Carr
P ark improvements , Texas Star Sports Complex Phase VII design and construction , Kiddie
Carr Park improvements , Wilshire Park upgrades , Blessing Branch Park improvements , and
the Carr Park Trail connection .
Library Administrator Sherry Knight reviewed the capital and supplemental request items for
the library services , including the purchase of audio/visual equipment and security cameras .
Additionally , she reviewed the capital project request , which includes the remodel of the
Mary Lib Saleh Euless Public Library .
City Manager Loretta Getchell addressed the Board regarding the funding of the capital
projects requests . She advised that the cost of the library remodel will be funded with cash
on hand , and the parks projects will be funded through the issuance of revenue bonds .
The Board raised no concerns regarding the proposed funding of the capital projects .
ITEM NO . 5 HEARD REPORTS ON CURRENT AND UPCOMING PROJECTS
P lanning and Economic Development Director Mike Collins presented an economic
development .
EDC Meeting Minutes Page 3 of 3 June 27, 2018
ITEM NO . 6 ADJOURN
There being no further business before the Board , the meeting adjourned at 7 : 35 p . m .
APPROVED : ATTEST :
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Chairman Secretary