Loading...
02/22/2010-4B-Minutes-Regular (2)MINUTES: SANGER TEXAS DEVELOPMENT CORPORATION February 12, 2010 MEMBERS PRESENT: John Payne, Beverly Howard, Scott Stephens, Jeff Springer, wm Dutton, Beverly Branch and Barbara Martin OTHERS PRESENT: City Manager Mike Brice, Tami Taber City Secretaiy 1. Call Meeting to Order. President Payne called meeting to order. 2. Approve Minutes: August 24, 2009 Motion was made by Beverly Branch to approve minutes as presented. Seconded by Will Dutton. Motion carried unanimously. 3. Discussion on Sports Park Progress. John Payne asked ·about the status of the new eompleL City Manager has looked at other complexes and it will be 30 -60 days until the information is put together for an RFQ. It will be around late spring or early summer until construction begins. John Payne asked about possible names for the complex. and a ground breaking. ceremony. City Manager said the new complex will be named John W~ Porter Sports Complex. 4. Review Financials The City Manager went over the financials and stated that the sales tax is currently down 8% for the month and he will have sales tu information at the next meeting. He also advised that the first bond payment is due in August in the amount of $180,000 and there is three years worth of bond payments sitting in the bank. John Payne asked about having one more certificate of deposit and the City Manager . confirmed that and advised that it was just shy of $600,000 as of January 31, 2010. 5. Adjournment. Motion was. made by John Springer to adjourn and John Payne adjourned meeting. MINUTES: 48 SANGER TEXAS DEVEWPMENT CORPORATION March 22, 2010 MEMBERS PRESENT: John Payne, Jeff Springer, Will Dutton, Beverly Branch and Barbara Martin MEMBERS ABSENT: Scott Stephens, Beverly Howard OTHERS PRESENT: City Manager Mike Brice, Chel)'I Price, Administrative Assistant 1. Call Meeting to Order. President Payne called meeting to order at 6:03p.m. 2. Approve Minutes: Februal)' 22, 2010 Motion was made by Jeff Springer to approve minutes as presented. Seconded by Barbara Martin. Motion carried unanimously. 3. Consider and Possible Action on Authorizing City Manager and Staff to Sign Checks for Expenditures Approved by the Board and be the Signatories on 48 Bank Accounts and Investments John Payne questioned what the difference is in how it is being handled now. Mike Brice advised that two Board member signatures are required for any checks or bank drafts written on the 48 account. What is being proposed is allowing the City to sign checks and issue checks for expenditures that have been approved by the Board. This procedure was recommended by the CPA. Originally, the By-Laws required the Treasurer to do aU of the Banking and any two Board members need to sign the checks. This procedure can be done without changing the By-Laws. A motion was made by Barbara Martin to authorize the City Manager and staff to sign checks for expenditures approved by the Board and to be signatories on 48 bank accounts and investments, provided a list of expenditures is provided to the 48 Board at each meeting. The Motion was seconded by Will Dutton. Motion carried unanimously. 4. Project Updates: a) Sports Complex Mike Brice noted that because of the weather, not a lot has changed since the last 111,,~g. He said f1'at GEO Tffh e11me out last Thursday with their regular equipment and had to come back with heavier equipment on Sunday to access the property. There will be an item on the next City Council Meeting to request a proposal for a Construction Manager at Risk. What this does is require that the cost of the construction not exceed a set price. This is the best way to do this in today's market. Mike Brice noted that the RFP (Request for Proposal) process is a 60 day process. Also, in the RFP we will be looking for someone with experience in building Sports Parks. 5. Review Financials Mike Brice referred to financial information he provided to the Board. He noted the Sales Tax revenue from the last three months in 2009 and the f"mt month 2010 are just a little low but, revenue seems to have picked up in February and this month we are at around $20,000. Mike Brice referred to the Investments page and advised that the 4B is in great shape financially with $621,000 in the bank. Barbara Martin said that she has noticed that there bas not been any expenditure lately. Mike Brice advised that the only project the board has right now is the Sports Park. The downtown area is complete except for a dispute with one contractor that believes the City owes him an additional $23,000. 6. Adjournment. Motion was made by Jeff Springer to adjourn. The motion was seconded by Barbara Martin. The motion carried unanimously. John Payne adjourned meeting at 6:14 p.m.