09/27/2001-4A-Agenda Packet-Regular-·'
AGENDA
4A CORPORATION
THURSDAY, SEPTEMBER 27, 2001
6:00 P.M.
201 BOLIVAR
1. Call Meeting to Order.
2. a)
CONSENT AGENDA
Approve Minutes: April 17, 2001
3. Citizen's Input
4. Consider and Possible Action on FY 2001/2002 Budget.
5. Any Other Such Matters.
0;-Jt/-ol r;;:; o fltn.
Date and Time Posted
This facility is wheelchair accessible and accessible parking spaces are available. Requests
for accommodations or interpretive services must be made 48 hours prior to this meeting.
Please contact the City Secretary's office at (940) 458-7930 for further information.
I;:
MINUTES: 4A CORPORATION
APRn, 12, 2001
PRESENT: Frank Ballard, Vickie Jenkins, Bill Fuller, Richard Muir
ABSENT: Carroll McNeill
OTHERS
PRESENT: City Manager Jack Smith, City Secretary Rose Chavez, Councilman Joe Higgs,
Woodrow Barton, Charles Carneal
1. Frank Ballard Called Meeting to Order.
2. a)
CONSENT AGENDA
Approve Minutes: January 29, 2001
Richard Muir moved to approve the minutes as presented. Seconded by Vickie Jenkins.
Motion Carried unanimously.
3. Citizens Input.
Joe Higgs asked about taxes from the RV Park.
City Manager indicated he would check into it.
Discussion regarding "No Frill's Grill" and when it will open.
4. Consider and Possible Action on contract with ABM Apartments.
Frank Ballard indicated Mr. Charles Carneal with ABM was present to address the
board regarding this.
Charles Carneal indicated they want to participate in a State program and build some
apartments in the City of Sanger. He indicated they would receive federal tax credits
which they would sell to gain equity. He showed pictures of the development in
McKinney that would be similar to this one. He explained the process of funding and
how they will go through the Texas Department of Housing to get the federal tax
credits. He requested that the 4A Board enter into a contract with ABM to form a
corporation because the Texas Department of Housing will give them more points
toward possible funding if they are partnered with a non-profit organization. He
indicated the board would not have any liability and would not be signing notes or
anything like that.
Discussion regarding the project and the rent schedule.
•
Discussion regarding property taxes.
Frank Ballard asked about the percentage of revenue the Board would get.
Mr. Carneal indicated the board would get 10% of whatever the corporation received.
Discussion regarding the cost of the project.
Lengthy Discussion continued regarding the project and the contract.
Richard Muir asked if this could be taken to the City Attorney and okayed by the City
Council before they act on it.
City Manager indicated he will send it to the attorney.
Frank Ballard asked for the consensus of the board.
Vickie Jenkins indicated she did not see a downfall if there was not any liability.
Bill Fuller indicated he felt the City would benefit if there is no liability, and if the
corporation has a good track record. He felt they should look at some of the projects,
and see if they could get any information on the business.
Mr. Carneal indicated he could have one of the equity investors contact Frank Ballard
and explain some details.
Vickie Jenkins moved to table this item to allow the attorney to review the contract and
allow the board to see what she can find out regarding the business. Bill Fuller
seconded. Motion carried unanimously.
5. Any Other Such Matters.
None.
6. Adjourn •
•
MINUTES: 4A Board
April 17, 2001
PRESENT: Frank Ballard, Richard Muir, Vickie Jenkins, Carroll McNeill, Bill Fuller
OTHERS
PRESENT: City Manager Jack Smith, Woodrow Barton, Charles Carneal
1. Frank Ballard called meeting to order.
2. a)
b)
Approve Minutes:
Disbursements
CONSENT AGENDA
None to approve this meeting.
3. Citizen's Input.
Woodrow Barton, 807 N. 7th St., indicated about 12 months ago Roger Hebard wanted
to develop 292 acres of property that was owned by Hank Cooper. The area where the
new landfill was to be. He came before Council to try to develop a MUD District, which
did not get approved. Now he has come back and has presented a 4 page construction
plan for residential and commercial property. About 4 months ago Mr. Kramer
presented the Sable concept plan for the property east of the Railroad on F.M. 455.
This plan contains areas for single family, multi family, and commercial. Now they
have come to a point where they will sell off 7 acres. He just wanted to bring this to
their attention.
4. Consider and Possible Action on Contract with ABM Apartments.
Carroll McNeill indicated he wanted to do what was best for the city. This would bring
in tax revenues.
Discussion regarding water and sewer.
City Manager indicated anything they approve will be contingent upon the City
Attorney's approval and the City Council's approval.
Charles Carneal indicated there intention was that the 4A Board would have 10%
partnership; however the financial lenders will not look toward the board for
repayment of the note. He felt there would not be any liability. The corporation would
not have any responsibilities.
Frank Ballard asked if it would be appropriate to have a contract stating that the
corporation will have to carry some type of liability insurance.
Charles Carneal Indicated they can keep sufficient insurance to cover any problems.
Vickie Jenkins indicated all the taxes are paid, and the corporation is in good standing.
She attempted to pull a better business report, and there was not any information on
them.
Continued discussion regarding the project.
Richard Muir indicated he had checked a couple of the locations where these people
have apartments. Some of the response was good, but in Arlington he had spoken to the
building inspector regarding the apartments called Northridge and Northridge II in
which the minimum standards were complied with, the inspector indicated more
information could be obtained through filing an open records request. He indicated
that was not as good of a response as be hoped to get. He called Sioux City, Nebraska
and they have a project that they have not had any problems with.
Richard Muir indicated the issue of the location needed to be addressed. He felt they
could approve the concept, but they final approval needed to be given by the Planning
and Zoning and City Council. There also were the other issues that need to be
addressed. The first issue is to make sure there is no liability, the second issue is that
they understand they are not recommending the site that they have indicated, and the
third issue is that they obtain liability insurance.
Discussion regarding the Attorney's comments and concerns regarding liability.
Discussion regarding the market for apartments.
Discussion continued regarding the project.
Charles Carneal indicated in Denton and surrounding cities, there are not any
properties as nice as this will be. He indicated to find this type units you would have
to go to McKinney or Frisco.
Discussion regarding tap fees.
Discussion regarding the site.
Vickie Jenkins indicated the decision they needed to make was if they want to do the
partnership or not.
Discussion regarding sales tax, and development.
Frank Ballard indicated these developers are only asking for a partnership, but have
indicated they will work with the attorney to make sure there is no liability, this will
bring in tax revenues, and water and sewer revenues. He indicated they should look
at the overall picture. This may be an opportunity to get some of the money back that
was given to Wal-mart.
Discussion continued regarding the criteria.
Bill Fuller asked if the Council did not approve this, what would happen.
Mr. Carneal indicated it would fall through.
Mr. Fuller asked ifby being citizens of the community, are they trying to address items
that should be dealt with by the Planning and Zoning and the City Council. He felt that
perhaps they should pay more attention to the agreement. They should decide if they
want to agree to the concept. Then look at the money issues and how that is handled.
He also felt that he would like more information about the rent schedule.
Mr. Carneal indicated he was asking for this to be moved forward. He indicated the
Board would receive ten percent of what the corporation received.
Discussion regarding interest rates.
Discussion regarding the rent schedule.
Vickie Jenkins asked about signing the documents contingent upon the attorney's
approval of all future documents, and will the Council have to approve the board's
action.
City Manger indicated they will go before City Council on Friday afternoon. If the
Council does not approve it is a dead issue.
Richard Muir made the motion that in consideration of the discussion and the letter
from the attorney that the board move forward with the limited partnership with ABM
Development Incorporated which would result in the construction of 76 apartments
contingent on their being absolutely no liability on the mote and that the Planning and
Zoning and the City Council have full reign with selecting the details of the site to be
in line with what fits the City plan. Vickie Jenkins seconded. Motion carried 4 to 1.
Carroll McNeill opposed.
5. Meeting Adjourned.
9-24-2001 05:12 PM
41 -4A CORPORATION
REVENUE SUMMARY
4A REVENUES
*** TOTAL REVENUES ***
EXPENDITURE SUMMARY
75-4A EXPENSES
*** TOTAL EXPENDITURES***
* REVENUES OVER (UNDER) EXP.*
C I T Y O F S A N G E R
PROPOSED BUDGET
AS OF: AUGUST 31ST, 2001
CURRENT
BUDGET
140.000.0Q
140,000.00
140.000.00
140,000.00
-------------------..... --------
0.00
==============
Y-T-D
ACTUAL
126.078.28
126,078.28
----------------------------
83.952.81
83,952.81
==============
42,125.47
==============
PAGE:
PROPOSED
BUDGET
145.000.00
145,000.00
--------------------------
.-:t45, 0J0 .'°60
--------------------------
1'tll:/-So.oo ====:1 =======
1
9-24-2001 05:12 PM
41 -4A CORPORATION
D'CIVENUES
4A REVENUES
00-4000
00-4425
00-4800
00-4940
LOAN PROCEEDS
STATE SALES TAX
INTEREST INCOME
DONATIONS
** REVENUE CATEGORY TOTAL**
*** TOTAL REVENUES ***
C I T Y O F S A N G E R
PROPOSED BUDGET
AS OF: AUGUST 31ST, 2001
CURRENT
BUDGET
0.00
140,000.00
0.00
0.00
140,000.00
140,000.00
----------------------------
Y-T-D
ACTUAL
0.00
124,118.38
1,959.90
0.00
126,078.28
126,078.28
----------------------------
PAGE:
PROPOSED
BUDGET
0.00
144,000.00
1,000.00
0.00
145,000.00
145,000.00
2
==============
9-24-2001 05:12 PM . . .
41 -4A CORPORATION
~~-4A EXPENSES
PARTMENT EXPENDITURES
C I T Y O F S A N G E R
PROPOSED BUDGET
AS OF: AUGUST 31ST, 2001
CURRENT
BUDGET
Y-T-D
ACTUAL
PAGE:
PROPOSED
BUDGET
3
----------------------------------------------------------------------------
AND MATERIALS 52-SUPPLIES
75-5200
75-5210
75-5215
75-5220
75-5225
CHECK CHARGES 0.00
OFFICE SUPPLIES 200.00
TRAVEL & REGISTRATIO 500.00
DUES 250.00
PUBLICATIONS/SUBSCR=I ___ ~2~P~0~-~P'-'"-0
** CATEGORY TOTAL**
54-CONTRACT SERVICES
75-5410 INSURANCE
1,150.00
75-5420 CONTRACTUAL SERVICES
100.00
1,200.00
1,000.00 75-5425 LEGAL FEES
** CATEGORY TOTAL**
55-UTILITIES
75-5500 PROJECTS
75-5505 LOAN PAYMENTS
CATEGORY TOTAL**
*** DEPARTMENT TOTAL ***
*** TOTAL EXPENDITURES***
*** END OF REPORT***
•
2,300.00
46,550.00
90,000.00
136,550.00
r-
140,000.00
==============
140,000.00
==============
0.00
9.30
350.00
0.00
0.00
359.30
0.00
1,100.00
0.00
1,100.00
0.00
82,493.51
82,493.51
83,952.81
----------------------------
83,952.81
==============
100.00
200.00
500.00
250.00
200.00
1,250.00
100.00
1,200.00
1,000, 00
2,300.00
-o-
51,450.e-0
l30,A@·~O « 900,011
/Jo. oe,O·if> 0
'14~, 450. 00
J'33 550.00
1:4§1, 000. OQ
===========---
l3~$$0-00
J &,5~ 000. 00
=============
:_ -.,
Memo
To:
From:
Subject:
Date:
4A BOARD MEMBERS
SAMANTHA RENZ
DEPOSITS
AUGUST 6, 2001
Attached is a list of the deposits from 1999 to present in spreadsheet format along with a copy of
the financial statement for the board.
If you have any questions, give me a call.
4A DEPOSITS
1999 2000 2001 2002 2003 2004 2005 2006
AN. $6,691.041 $a,oa3.93 1 $8,937.43 1
FEB. $9,ao6.4s 1 $9,763.37 1 $11,840.64 1
MARCH I i-, ____ _,__ _ __._ _______ ___,, _____ _.__ _ __._ ___ ......_ __ ___. ___ __,_ ___ ..__ __ ~ $6,700.02 I $1 o,3a4.63 1 $a,9a4.1a 1
APRIL I !-l ___ _,___,;.___._ _____ _..._ _ ___.------.;...i..;_ _ __._ ___ ......_ __ ___. ___ __,_ ___ ..__ __ ~ $10,07s.1a 1 $a,416.s2 1 $9,s17.2s I
MAY I ,~...;...;..i..;..;.....;._....,__.;,_._.____.........,~.c..---........... _-__,_ ___ _._ ___ ..___ __ ~ __ ~ $9,970.22 I $10,323.1s 1 $14,946.44 1
JUNE j!---=-;...,,,,;..,;-=-__._-----__._--'---__......:...;,."'-'---__._ ___ ......_ __ ___. ___ __._ ___ .__ __ ~
I
$7,392.4s 1 $7,953.66 I $10,131.01 1
JULY I I _ ____._ _______ .___ _ __.____... __ ...__ __ ___._ ___ _.__ ___ ...._ __ __._ __ _ $8,733.02 1 $7,642.30 1 $12,7a4.1a 1
AUGUST~! ___ ......_ _ __._ ___ _._ _ ___. ___ _.__ _ __._ ___ ......_ __ ___. ___ __._ ___ .__ __ _ $12,935.49 1 $10,a54.2s 1 $17,o3s.oo 1
SEPT.
OCT.
NOV.
DEC.
l
$a,sa4.sa I $7,103.so 1
$9, 164.4a 1 $10,136.27 1
$8,912.47 1 $11,975.61 1
$12,s94.42 1 $7,a6o.37 1
TOTAL $111,559.82 $110,497.56 $94,176.13
n-22-2001 08:44 AM C I T Y 0 F SANGER PASE: 1
TRIAL BALANCE
AS OF: 006UST 31ST, 2001
41 -4A CORPORATION
HH MONTH TO DATE IHI HHi YEAR TO DATE liHf
ACCOUNT NOi TITLE DEBITS CREDITS DEBITS CREDITS
ASSETS
00-1010 CASH 0.00 1,505.66
00-1011 SANGER TX.IND.DEV.CD.67516/4A 0.00 0.00
00-1012 MONEY MARKET 14Al INV. 17,035.00 84,094.23
00-1053 RECEIVABLE-OTHER 0.00 10,136.26
LIABILITIES AND FUND BALANCE
00-3020 FUND BALANCE 0.00 46,185.35
REVENUES
00-4000 LOAN PROCEEDS 0.00 0.00
00-4425 STATE SALES TAX 17,035.00 124,118.38
00-4450 INTEREST 0.00 2.02
00-4800 INTEREST INCOME 0.00 1,783.80
00-4940 DONATIONS 0.00 0.00
EXPENSES
75-5000 CHECK CHARGES 0.00 0.00
75-5210 OFFICE SUPPLIES 0.00 9.30
75-5215 TRAVEL & REGISTRATIONS 0.00 350.00
75-5220 DUES 0.00 0.00
75-5225 PUBLICATIONS/SUBSCRIPTIONS 0.00 0.00
75-5410 INSURANCE 0.00 0.00
75-5420 CONTRACTUAL SERVICES 0.00 900.00
75-5425 LEGAL FEES 0.00 0.00
75-5500 PROJECTS 0.00 0.00
75-5505 LOAN PAYMENTS 0.00 75,094.10
2 Hi TOTALS Hi 17,035.00 17,035.00CR 172,089.55 172,089.SSCR
"-22-2001 08:45 AM CITY OF SANGER PAGE:
FINANCIAL STATEMENT
AS OF: AU6UST 31ST, 2001
41 -4A CORPORATION
CURRENT CURRENT Y-T-D ~ OF Y-T-D BUDGET
BUDGET PERIOD ACTUAL BUDGET ENCUMB. BALANCE
REVENUE SUMMARY
4A REVENUES 141,000.00 17,035.00 125,904.20 89.29 0.00 15,095.80
** TOTII. REVENUES fff 141,000.00 17,035.00• 125,904.20 89.29 0.00 15,095.80
---
EXPENDITURE SUMMARY
75-4A EXPENSES 140,100.00 0.00 76,353.40 54.50 0.00 63,746.60
*** TOTAL EXPENDITURES*** 140,100.00 0.00 76,353.40 54.50 0.00 63,746.60
----
** REVENUES OVER(UNDERl EXPENDITURES** 900.00 17,035.00 49,550.80 505.64 0.00 48,650.80)
----
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0,00 0.00
TOTAL OTHER FINANCING SOURCES (USES) 0.00 0.00 0.00 0.00 0.00 0.00
------
"-22-2001 08:45 AM
41 -4A CORPORATION
REVENUES
REVENUES
4A REVENLES
00-4000 LOAN PROCEEDS
00-4425 STATE ~ES TAX
00-4450 INTEREST
00-4800 INTEREST INCOME
00-4940 DONATIONS
TOTAL 4A REVENUES
fH TOTAL REVENUES fH
I. J
CITY OF SANGER
FINANCIAL STATEMENT
AS OF: AUGUST 31ST, 2001
. ,,._,).,:.
CURRENT
BUDGET
CURRENT
PERIOD
Y-T-D '/. OF
OCTUAI.. BUDGET
0.00 0.00 0.00 0.00
140,000.00 17,035.00 124,118.38 88.66
1,000.00 0.00 2.02 0.20
0.00 0.00 1,783.80 0,00
0.00 0.00 0.00 0.00
141,000.00 17,035.00 125,904.20 89,29
141,000.00 17,035.00 125,904.20 89.29
----------------------
Y-T-D
ENCUMB.
0.00
0.00
0.00
0.00
0.00
0.00
0.00
PAGE: 2
BUDGET
BALANCE
0.00
15,881.62
997.98
1,783.80)
0.00
15,095.80
15,095.80
-.
--22-2001 08:45 AM
41 -4A CORPORATION
75-4A EXPENSES
DEPARTMENT EXPENDITURES
52-SUPPLIES AND MATERIALS
75-5210 OFFICE SUPPLIES
75-5215 TRAVEL & REGISTRATIONS
75-5220 DUES
75-5225 PUBLICATIONS/SUBSCRIPTIONS
TOTAL 52-SUPPLIES AND MATERIALS
54-CONTRACT SERVICES
75-5410 INSURANCE
75-5420 CONTRACTUAL SERVICES
75-5425 LEGAL FEES
TOTAL 54-CONTRACT SERVICES
..,5-UTILITIES
75-5500 PROJECTS
75-5505 LOAN PAYMENTS
TOTAL 55-UTILITIES
fH DEPARTMENT TOTAL ***
*** TOTAL EXPENDITURES***
OTHER FINANCING SOURCES (USES) ~
---------------
TOTAL OTHER FINANCING SOURCES (USES)
&1 END OF REPORT***
CITY OF SANGER
FINANCIAL STATEMENT
AS OF: AUGUST 31ST, 2001
CURRENT
BUD6ET
200.00
500.00
250.00
200.00
1,150.00
100.00
1,200.00
11000.00
2,300.00
46,550.00
901000.00
136,550.00
140,000.00
--------
140,000.00
0.00
CURRENT
PERIOD
0.00
0.00
0.00 •
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
-------------
0.00
Y-T-D j Cf
ACTUAL BUDGET
9.30 4.65
350.00 70.00
0.00 0.00
0.00 0.00
359.30 31.24
0.00 0.00
900.00 75.00
0.00 0.00
900.00 39.13
0.00 0.00
751094.10 83.44
75,094.10 54.99
76,353.40 54.54
------
76,353.40 54.54
-----
0.00 0.00
-----
L '"'•' _•, .. !
Y-T-D
00Ji1B.
0.00
0.00
0.00
~ •".11' ,_,,:.,:r_,
0.00
0,00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
PAGE: 3
BUDGET
BALANCE
190.70
150.00
250.00
200.00
790.70
100.00
300.00
11000.00
1,400.00
46,550.00
141905.90
61,455.90
63,646.60
63,646.60
----------------------------
0.00
,·