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08/21/2007-4A-Agenda Packet-RegularAGENDA 4A SANGER TEXAS INDUSTRIAL DEVELOPMENT CORPORATION TUESDAY, AUGUST 21, 2007 12*00 P.M. (NOON) 201 BOLIVAR STREET 1. Call Meeting to Order 2. Approval of Minutes 3. Review by-laws and elect officers 4. Discuss and Consider Financial Reports and 2006-2007 Budget 5. Discuss and Consider the 2007-2008 Budget 6. Review Requirements of Attorney General 7. Possible List of Future Agenda Items. $. Adjournment. I, the undersigned authority, board, at the City Hall of the general public at 11 tin time: �n I (/7, t )O Rosalie Chavez, City City of Sanger, Texas do hereby certify that this Notice of Meeting was posted on the bulletin City of Sartgr�;Texas, a place convenient and readily accessible to the es, ands said Notice was posted on the following date and 1 =at i." p.m. and shall remain posted until �P Ofo��PP This notice was removed from'''���the 9 ,aOfficial bulletin by board on at 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. Minutes: Sanger Industrial Development Corporation March 5, 2007 Members Present. Richard Muir, Vickie Jenkins, Bill Fuller, Carroll McNeill Members Absent: Fred Yeatts Others Present. City Manager Jack Smith, City Secretary/Asst. City Mgr. Rose Chavez and Woodrow Barton 1. President Muir called meeting of the Sanger Industrial Development to order. 2. Approval of Minutes: February 15, 2007 Motion was made by Carroll McNiell to approve minutes of February 15, 2007. Seconded by Vickie Jenkins. Motion carried unanimously. 3. Update on Economic Development Activities. Cecile Carson, Economic Development Director, addressed the Board and indicated that when she started her position in Sanger there was not any framework in place. The first thing she did was to talk to various people and go through sources to identify a mission, goals for the department and enhancing the quality of life in Sanger and existing development for meaningful and rewarding employment opportunities and a greater access to desirable goods and services. Ms. Carson advised there has been a lot of discussion about the history of Sanger and preservation of the community and interest in growth and development. The slogan she attached to economic development opportunities was preserving the past and promote the future. The goals were identified in recruiting businesses, looking for retention and expansion programs for existing businesses and encouraging redevelopment of the downtown area. Promoting a business atmosphere among all the interested groups: the City, School District, Chamber of Commerce, Denton County and other parties. Ms. Carson discussed that to reach these goals some of the things that were done was to review the development codes, ordinances and conduct surveys. The creation of marketing materials is one of the pieces that is a profile on the Economic Development web site. According to statistics 95% of all economic development prospects start with the web site. The MPRG survey was conducted on line, which allowed the citizens of the community to express their interest and desires in the community. The three critical issues were planning for growth, quality retail development, and transportation and street conditions. The highest ranking in the quality of life was employment opportunities. This is a piece that is on the web site. Ms. Carson reviewed the Buxton Survey the marketing company that did a retail marketing analysis which was funded by the 4B Board. Ms. Carson explained the method in which this marking company tracks the spending monies of the citizens in the community. The study identified Sanger in a category of Sky Families and 1Vlayberryville. A description of Mayberryville is centered back to the old fashion way of life. In these small towns, middle-class couples and families like to fish and hunt during the day, stay at home at watch TV at night with lucrative Blue Collar jobs and moderately priced homes. Their discretionary monies are used to purchase boats, campers, motorcycles and pick-ups. Blue Sky Families are scattered throughout the towns in America's Heartland. These families are young with a high school education and have turned blue-collar jobs into busy middle-class lifestyles. Residents like to play baseball, basketball, volleyball, in addition to going fishing, hunting, and horseback riding. These families buy every piece of sporting equipment on the market to keep their families entertained. Comparisons were done on spending and this identified retailers that matched those spending habits. Based on the information they have identified the sit-down restaurants and grocery stores. Ms. Carson continued and advised that Buxton will continue this process by contacting all the vendors that were identified and providing them with the information concerning the survey. Buxton has also offered to do an analysis on recreation specifically looking at Lake Ray Roberts. Discussion onmarl-eting sources and promoting Sanger which was done in advertising in the Texas Downtown Association. There were 650 contacts as a result of this ad. There should be an advertisement in the Texas Co-op magazine. The web site has had at least 1500 hits since November. Cecile briefed on the need to modify the Incentive Policy and possibly having it as a future item on the agenda. The draft document will focus on the retail market and what it will offer Sanger depending on what a business offers will determine what the city will offer. Discussion on the marketing materials, best property deals, best property taxes and wort -force availability. Cecile discussed that they have talked with MPRG and as part of the master plan they will give the City amarl-eting phase. It will include a transportation map, land use map and a general overall goal of the city. Discussion continued on Ms. Carson's marketing approaches, information that is mailed out and prospects. Electric utilities were discussed as competitive in the market. The City of Denton conducted a study and Sanger was in the middle of about a list of 30 utilities that included TXU Electric, City of Denton and Brazos. President Muir inquired on now much land is available for business use on Interstate 35. Ms. Carson indicated there is about 500 acres that the City has designated as industrial commercial type use. Mr. McNeill expressed that the amount of land available seemed low. Ms. Carson indicated that it could -more and it depends on the location. Discussion that the uses of one way service roads were not a conflict and how it will eventually be in Gainesville. Mr. McNiell felt it was a disadvantage. Ms. Carson indicated that going South on Interstate 35 all the way to Laredo is one- way service roads. TXDOT is proposing to widen service roads to three lanes. State of Texas has indicated they are not building any more service roads since that is a benefit to the community and not a benefit to the Texas Department of Transportation as commented by one of their commissioners. President Muir concern is he wants the growth but not gridlock. Ms. Carson indicated that the City needs the planning documents to prepare for the infrastructure that meets the needs of the development. Discussion followed on an infrastructure. President Muir indicated he was surprised that downtown development scored high on the survey that was taken by the 447 respondents. Ms. Carson advised downtown had the second highest. It was in the top three of 15 categories and probably scored higher since it is retail. President Muir inquired that based on her experience with the job, did she see and problems or roadblocks in future that she might have to overcome to successfully do her job. Ms. Carson mentioned that having updated ordinances that will ultimately match the master plan is essential and trying to get everyone worl�ing in the same direction. Ms. Carson gave a progress report on MPRG completion deadline and the delay due to the vice president resigning to go work for engineering firm. Discussion that Razor Ranch Development in Denton has hurt Sanger. Ms. Carson expressed that she hopes to capture on the accessory side of that by promoting alternate locations. Discussion on the sewer line that was put in on the west side that was to open up for residential development. Mr. Smith advised that currently that is leaning more towards commercial. 4. Discuss Future Agenda Items. Ms. Carson advised that the incentive policy is scheduled as an item on the next agenda. She asked the members to review and if they had comments to contact her directly. The University of North Texas is conducting some research and once completed she will put it up for a vote by the 4A and 4B board members for recommendation to City Council. It might be May before they can meet again. 5 President Muir adjournment meeting at 3:12 p.m. City of Sanger TO: 4A Sanger Texas Industrial Development Corporation ITEM: Loan Status DATE. August 21, 2007 STAFF: Cecile Carson, Director of Economic Development BACKGROUND AND ANALYSIS: M the Boards direction, staff has made payments of $101000 monthly to retire the loan debt. As of August 1, 2007, the loan outstanding balance is $184,978.90. This will be an item for discussion for the 2007-2008 budget to continue our efforts to complete the payment of the loan. 8-15-2007 08426 AM 41 -4A CORPORATION ACCOUNT NO# TITLE ASSETS 00-1010 CASH 00-1011 SANGER TX.IND.DEV.CD.67516/4A 00-1012 MONEY MARKET (4A) INV. 00-1013 SANGER TX IND CORP CD#486639 00-1053 RECEIVABLE -OTHER 00-1060 DUE FROM GENERAL FUND 00-1062 AMOUNT TO BE PROVIDED L-T-D LIABILITIES AND FUND BALANCE 00-2201 N/P GNB 00-3020 FUND BALANCE REVENUES 00-4000 LOAN PROCEEDS 00-4425 STATE SALES TAX 00-4800 INTEREST INCOME 00-4940 DONATIONS 00-4950 PRIOR YEAR INCOME EXPENSES 75-5200 CHECK CHARGES 75-5210 OFFICE SUPPLIES 75-5215 TRAVEL & REGISTRATIONS 75-5220 DUES 75-5225 PUBLICATIONS/SUBSCRIPTIONS 75-5410 INSURANCE 75-5420 CONTRACTUAL SERVICES 75-5425 LEGAL FEES 75-6500 PROJECTS 75-6505 LOAN PAYMENTS/20066800 C I T Y O F S A N G E R TRIAL BALANCE AS OF: JULY 31ST, 2007 **** MONTH TO DATE **** DEBITS CREDITS 1,607.82 0.00 364.98 1,170640 0.00 164,995.90 0.00 0.00 0.00 91.85 0.00 0.00 0.00 0.00 0.00 11,550.00 0.00 0.00 10,000.00 3,756.79 164,995.90 1,170.40 19,127.61 730.30 *** TOTALS *** 189,780.95 189,780.95CR ***** YEAR TO DATE ***** DEBITS CREDITS 1,608.49 0.00 116,693.51 81,102.01 18,874.91 0.00 272,623.90 0.00 91.85 0.00 500.00 0.00 0.00 0.00 23,700900 0.00 0.00 100,000.00 615,194.67 272,623.90 153,838.10 184,459.43 4,278924 615,194.67CR N� I 8-15-2007 08:33 AM 41 -4A CORPORATION REVENUE SUMMARY 4A REVENUES *** TOTAL REVENUES *** EXPENDITURE SUMMARY 75-4A EXPENSES *** TOTAL EXPENDITURES *** C ITY OF SANGER FINANCIAL STATEMENT AS OF: JULY 31ST, 2007 CURRENT CURRENT Y-T-D OF Y-T-D BUDGET PERIOD ACTUAL BUDGET ENCUMB. PAGE: 1 BUDGET BALANCE 250,000.00 19,857.91 188,732.67 75.49 0.00 61,267.33 250,000.00 19,857.91 188,732.67 75.49 0.00 61,267633 250,000.00 21,641.B5 124,291.85 99.72 0.00 125,708.15 250,000.00 21,641.85 124,291.85 49.72 0.00 125,708.15 ** REVENUES OVER(UNDER) EXPENDITURES ** 0.00 ( 1,783.94) 64,440.82 0.00 0.00 ( 64,440.82) 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 8-15-2007 08:33 AM 41 -4A CORPORATION REVENUES REVENUES 4A REVENUES 00-4000 LOAN PROCEEDS 00-4425 STATE SALES TAX 00-4800 INTEREST INCOME 00-4940 DONATIONS TOTAL 4A REVENUES *** TOTAL REVENUES *** CITY OF SANGER PAGE: 2 FINANCIAL STATEMENT AS OE: JULY 31ST, 2007 CURRENT CURRENT Y-T-D £ OE Y-T-D BUDGET BUDGET PERIOD ACTUAL BUDGET ENCUMB0 BALANCE 0.00 0.00 0.00 0.00 0.00 0.00 240,000.00 19,127.61 184,454.43 76.86 0.00 55,545.57 10,000.00 730.30 4,278.24 42.78 0.00 5,721.76 0.00 0.00 0.00 0.00 0.00 0.00 250,000.00 19,857.91 188,732.67 75.49 0.00 61,267.33 250,000.00 -------------- ------------ -------------- ------------- 19,857691 ------------- -------------- 188,732.67 75.49 ----- ------ -------------- ------------ 0.00 ------------ -------------- 61,267.33 8-15-2007 08:33 AM C I T Y O F S A N G E R PAGE: 3 FINANCIAL STATEMENT AS OF: JULY 31ST, 2007 41 -4A CORPORATION 75-4A EXPENSES DEPARTMENT EXPENDITURES 52-SUPPLIES AND MATERIALS 75-5200 CHECK CHARGES 75-5210 OFFICE SUPPLIES 75-5215 TRAVEL & REGISTRATIONS 75-5220 DUES 75-5225 PUBLICATIONS/SUBSCRIPTIONS TOTAL 52-SUPPLIES AND MATERIALS 59-CONTRACT SERVICES 75-5410 INSURANCE 75-5420 CONTRACTUAL SERVICES 75-5425 LEGAL FEES TOTAL 54-CONTRACT SERVICES 65-PROJECTS 75-6500 PROJECTS 75-6505 LOAN PAYMENTS/20066800 TOTAL 65-PROJECTS *** DEPARTMENT TOTAL *** *** TOTAL EXPENDITURES *** OTHER FINANCING SOURCES (USES) TOTAL OTHER FINANCING SOURCES (USES) *** END OF REPORT *** CURRENT CURRENT BUDGET PERIOD Y-T-D $ OF Y-T-D BUDGET ACTUAL BUDGET ENCUMB. BALANCE 0.00 91.85 91.85 0.00 0.00 ( 91.85) 200.00 0.00 0.00 0.00 0.00 200.00 500.00 0.00 500.00 100.00 0.00 0.00 250.00 0.00 0.00 0.00 0.00 250.00 200.00 0.00 0.00 0.00 0.00 200.00 1,150.00 91.85 591.85 51.47 0.00 558.15 100.00 26,200.00 0.00 26,300.00 0.00 11,550400 0.00 11,550.00 0.00 0.00 0.00 100.00 23,700.00 90.46 0.00 2,500.00 0.00 0.00 0.00 0.00 23,700.00 90.11 0.00 2,600.00 122,550.00 0.00 0.00 0.00 0.00 122,550.00 100,000.00 10,000.00 100,000.00 100.00 0.00 0.00 2221550.00 10,000400 100,000.00 44.93 0.00 122,550.00 250,000.00 21,641.85 124,291.85 49.72 0.00 125,708.15 250,000.00 21,641.85 124,291.85 49.72 0.00 125,708.15 0.00 0.00 0.00 0.00 0.00 0.00 8-15-2007 03:17 PM C I T Y O F S A N G E R PAGE: 1 PROPOSED BUDGET e AS OF: JULY 31ST, 2007 41 —4A CORPORATION CURRENT Y—T—D PROPOSED BUDGET ACTUAL BUDGET ----------------------------------------------------------------------------- REVENUE SUMMARY 4A REVENUES *** TOTAL REVENUES *** fiXPENDITURB SUMMARY 75-4A EXPENSES *** TOTAL EXPENDITURES *** * REVENUES OVER (UNDER) EXP.* 250,000.00 188,732.67 186,200.00 250,000000 -------------- -------------- 188,732.67 -------------- -------------- 186,200400 ------------- ------------- 250,000600 124,291.85 121,500.00 250,000.00 124,291.85 121,500.00 -------------- -------------- ------------- ---------------------------- ------------- 0.00 64,440.82 64,700.00 -------------- -------------- ------------- -------------- -------------- ------------- 8-15-2007 03:17 PM C I T Y O F S A N G E R PAGE: 2 PROPOSED BUDGET r AS OF: JULY 31ST, 2007 41 -4A CORPORATION REVENUES CURRENT Y-T-D PROPOSED BUDGET ACTUAL BUDGET 4A REVENUES 00-4000 LOAN PROCEEDS 0.00 00-4425 STATE SALES TAX 240,000.00 00-4800 INTEREST INCOME 10,000000 00-4940 DONATIONS 0.00 00-4950 PRIOR YEAR INCOME 0.00 00-4985 TRANSFERS OUT FR 4A 0.00 ** REVENUE CATEGORY TOTAL ** 250,000.00 *** TOTAL REVENUES *** 250,000.00 -------------- -------------- 0.00 0.00 184,454943 222,000.00 4/278924 4,200.00 0.00 0.00 0.00 0200 0.00 ( 40,000.00) 188,732.67 188,732.67 -------------- -------------- 186,200.00 186,200.00 -------------- -------------- 8-15-2007 03:17 PM CITY OF SANGER PAGE: 3 0 PROPOSED BUDGET AS OF: JULY 31ST, 2007 41 -4A CORPORATION 75-4A EXPENSES DEPARTMENT EXPENDITURES CURRENT Y-T-D PROPOSED BUDGET ACTUAL BUDGET 52-SUPPLIES AND MATERIALS 75-5200 CHECK CHARGES 0.00 91.85 0.00 75-5210 OFFICE SUPPLIES 200.00 0.00 200.00 75-5215 TRAVEL & REGISTRATIO 500.00 500.00 750.00 75-5220 DUES 250.00 0.00 250.00 75-5225 PUBLICATIONS/SUBSCRI 200.00 0.00 200.00 ** CATEGORY TOTAL ** 1,150.00 591.85 1,400.00 54-CONTRACT SERVICES 75-5410 INSURANCE 100.00 0.00 100.00 75-5420 CONTRACTUAL SERVICES 26,200.00 23,700.00 0.00 75-5425 LEGAL FEES 0.00 0.00 0.00 ** CATEGORY TOTAL ** 26,300.00 65-PROJECTS 75-6500 PROJECTS 122,550.00 75-6505 LOAN PAYMENTS/200668 100,000900 ** CATEGORY TOTAL ** *** DEPARTMENT TOTAL *** *** TOTAL EXPENDITURES *** *** END OF REPORT *** 23,700.00 0.00 100.000.00 100.00 0.00 120.000.00 222,550.00 100,000.00 120,000.00 250,000.00 124,291.85 121,500.00 ------------------------ -------------- ------------------------ -------------- 250,000.00 124,291.85 121,500.00 ----------------------------------------- -----------------------------------------