HomeMy WebLinkAbout2012-02-13 EDC MinutesEULESS DEVELOPMENT CORPORATION
BOARD OF DIRECTORS
MINUTES
February 13, 2012
The Board of Directors of the Euless Development Corporation met on Monday, February
13, 2012, in the Precouncil Conference Room of City Hall in the Municipal Complex, 201
North Ector Drive, Euless, Texas.
The following persons were in attendance:
Mayor Mary Lib Saleh, Chairman
Council Member Linda Martin, Vice Chairman
Council Member Tim Stinneford
Council Member Glenn Porterfield (arrived at 5:51 p.m.)
Citizen Member Sonja Adams
Citizen Member Carmen Deithloff
Citizen Member Wayne Marrs
City Manager Gary McKamie, President
Deputy City Manager Loretta Getchell, First Vice President
Director of Economic Development Mike Collins, Second Vice President
Finance Director Vicki Rodriquez, Treasurer
City Secretary Kim Sutter, Board Secretary
Assistant City Manager Chris Barker
Director of Parks and Community Services Ray McDonald
Library Administrator Kate Lyon
ITEM NO. 1. CALL TO ORDER
Chairman Mary Lib Saleh called the meeting to order at 5:34 p.m.
ITEM NO. 2 APPROVED MINUTES OF DECEMBER 12, 2011, MEETING
Upon motion by Tim Stinneford and second by Sonja Adams the minutes of the December
12, 2011, meeting were approved by unanimous vote. (G. Porterfield not present)
ITEM NO. 3 ACCEPTED ANNUAL AUDIT FOR FISCAL YEAR ENDING
SEPTEMBER 30, 2011.
Treasurer Vicki Rodriquez introduced Adam McCane, Senior Manager, Weaver L.L.C.,
who presented the Financial Report for the Euless Development Corporation (EDC) for the
year ending September 30, 2011.
Mr. McCane stated that the audit was conducted in accordance with generally accepted
auditing standards and received an Unqualified Opinion, the highest level of assurance
possible. He directed attention to the Management's Discussion and Analysis, a concise
overview of the audit. He stated the total assets as of September 30, 2011, were
$8,780,763 and total liabilities were $3,930,935, leaving net assets of $4,849,828.
EDC Meeting Minutes Page 2 of 3 February 13, 2012
Upon motion by Linda Martin and second by Wayne Marrs, the Euless Development
Corporation Independent Auditor's Report from Weaver, L.L.C., for the year ending
September 30, 2011, was accepted by unanimous vote. (G. Porterfield not present)
1ITi EM MO. REVIEWED FINANCIAL REP RT FOR THE QUARTER ENDING
DECEMBER 31, 2011,
Treasurer Vicki Rodriquez reviewed the Financial Report for the quarter ending
December 31, 2011, and stated that the sales tax collections through the end of
December were $884,301, which represents 26 percent of budget. She added that
operating expenditures were within budget at $839,865 or 23 percent of appropriations.
The remaining balance in the capital projects fund for projects not yet completed is
$1,134,454. The designated balance consists of monies for the Miscellaneous Park
Improvements, Texas Star Sports Complex Improvements Phase IV, Irrigation Project,
Incentives and Contingencies.
Undesignated capital projects funds in the amount of $479,945 remain available for
allocation to future projects.
ITEM NO. 5 HEARD REPORTS ON CURRENT AND UPCOMING G PROJECTS:
Director of Parks and Community Services Ray McDonald reported on the installation of
the solar lights at the dog park, and responded to questions regarding lighting at city
parks.
City Manager MCKamie advised that members of the City of Southlake staff along with
members of their Senior Advisory Committee recently toured the Euless Family Life
Center, and were impressed with the successful integration of a senior center with a
recreational facility. Additionally, he advised the members of a city funded project for
the design of an outdoor /indoor aquatics facility to be located at Midway Park.
Library Administrator Kate Lyon reported on the following items:
- Masterworks Concert Series
- Summer Reading Club
Library Book sale
o April 20, 21, and 22, 2012
Planning and Economic Development Director Mike Collins reported on the following
items:
- Commercial redevelopment along Main Street
a American Restaurant and Grill
o Dental office
o Arena Athletics facility
Residential development at Main
o Ridgecrest Estates subdivision at Mid - Cities Boulevard
- Commercial development along Highway 10
EDC Meeting Minutes Page 3 of 3 February 13, 2012
o Construction of Service Master
o Taco Casa at FM 157
-
Glade Parks development
lTEM No. . 6 CLOSED SESSION — Deliberation authorized by the Te zas
Government Code
The EDC Board of Directors convened into closed session at 6:18 p.m. for deliberation
regarding the following:
- Economic development incentives as authorized by Section 551.687 related
to U.S. Concrete and its subsidiary Redi Mix, L.L.G.
The EDC Board of Directors recessed the closed session and reconvened into open
session at 6 :59 p.m.
At the request of Chairman Saleh, City Manager McKamie provided a brief update on a
proposed senior living center to be located at the southwest quadrant of Dickey Drive
and E. Euless Boulevard (TX Hwy 10).
Item No. 7 ADJOURN
There being no further business before the Board, the meeting was adjourned at 7:05 p.m.
APPROVED:
Mary Lib Saleh
Chairman
Attest:
Kim Sutter
Secretary