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09/08/2020-4A-Agenda Packet-RegularAGENDA 4A ECONOMIC DEVELOPMENT BOARD TUESDAY, SEPTEMBER 8, 2020 1:00 PM HISTORIC CHURCH BUILDING 403 NORTH 7TH STREET SANGER, TEXAS 1.Call Meeting to Order 2.Approval of Minutes Discuss and take action on the July 21, 2020 board meeting minutes. 3.Election of Officers Discuss and take action on electing officer positions within the 4A Board. 4.Sanger Industrial Development Corporation 2020 Action Plan Discuss and take action on the Sanger Texas Industrial Development Corporation 2020 Action Plan. 5.Financial Reports Review financial reports. 6.Citizen Comments 7.Adjourn I, the undersigned authority, do hereby certify that this Notice of Meeting was posted on the City Website, and on the bulletin board, at the City Hall of the City of Sanger, Texas, a place convenient and readily accessible to the general public at all times. Said notice was posted on the following date and time, and remained posted continuously for at least 72 hours prior to the scheduled time of said meeting and shall remain posted until meeting is adjourned. 09/02/20 10:30 AM Jeriana Staton, Deputy City Secretary City of Sanger, Texas Date/Time Posted This facility is wheelchair accessible and accessible parking spaces are available. Requests for additional accommodations or interpretive services must be made 48 hours prior to this meeting. Please contact the City Secretary's office at (940) 4587930 for further information. 4A ECONOMIC DEVELOPMENT BOARD AGENDA MEMO AGENDA ITEM NO. 2. AGENDA MEETING DATE: September 8, 2020 TO: Shani Bradshaw, 4B FROM: ITEM/CAPTION: Approval of Minutes Discuss and take action on the July 21, 2020 board meeting minutes. AGENDA TYPE: Consent Agenda ACTION REQUESTED: Approval BACKGROUND: LEGAL/BOARD COMMISSION RECOMMENDATIONS/CITIZEN NOTICE FEEDBACK: FINANCIAL SUMMARY FUNDING/FISCAL IMPACT: FUNDS: STAFF RECOMMENDATION/ACTION DESIRED: ATTACHMENTS: Description Upload Date Type Board Meeting Minutes July 21, 2020 9/1/2020 Cover Memo MINUTES 4A ECONOMIC DEVELOPMENT BOARD TUESDAY, JULY 21, 2020 1:00 PM HISTORIC CHURCH BUILDING 403 NORTH 7TH STREET SANGER, TEXAS COMMISSION MEMBERS PRESENT: Victor Gann, Drew Hall, Sue Allison, Elizabeth Springer COMMISSION MEMBERS ABSENT: STAFF MEMBERS PRESENT: Shani Bradshaw, Stefani Dodson 1.Call Meeting to Order 2.Approval of Minutes Approval of the May 5, 2020 4A Board Meeting Minutes. A motion was made by Victor Gann to Motion. The motion was seconed by Drew Hall. The motion with a 40 vote 3.Fiscal Year 20202021 Budget Discuss, Consider and Act on Fiscal Year Budget 20202021. A motion was made by Drew Hall to Motion. The motion was seconed by Sue Allison. Shani goes over the new budget. The board has a brief discussionThe motion with a 40 vote 4.Action Plan 2020 Discuss and Develop the Sanger Industrial Development Corporation Action Plan 2020. Shani introduces Greg Last with EP Best Practices. Greg and the board go over the action plan 5.Citizen Comments No Citizens 6.Adjourn 3:57 PM 4A ECONOMIC DEVELOPMENT BOARD AGENDA MEMO AGENDA ITEM NO. 3. AGENDA MEETING DATE: September 8, 2020 TO: Shani Bradshaw, 4B FROM: ITEM/CAPTION: Election of Officers Discuss and take action on electing officer positions within the 4A Board. AGENDA TYPE: Regular ACTION REQUESTED: BACKGROUND: Members need to elect new officer positions this meeting date. The elected officers of the corporation shall be a President and Vice President. LEGAL/BOARD COMMISSION RECOMMENDATIONS/CITIZEN NOTICE FEEDBACK: FINANCIAL SUMMARY FUNDING/FISCAL IMPACT: FUNDS: STAFF RECOMMENDATION/ACTION DESIRED: APPOINT a new President and Vice President this meeting date. 4A ECONOMIC DEVELOPMENT BOARD AGENDA MEMO AGENDA ITEM NO. 4. AGENDA MEETING DATE: September 8, 2020 TO: Shani Bradshaw, 4B FROM: Shani Bradshaw, Director of Economic Development ITEM/CAPTION: Sanger Industrial Development Corporation 2020 Action Plan Discuss and take action on the Sanger Texas Industrial Development Corporation 2020 Action Plan. AGENDA TYPE: Regular ACTION REQUESTED: Approval BACKGROUND: LEGAL/BOARD COMMISSION RECOMMENDATIONS/CITIZEN NOTICE FEEDBACK: NA FINANCIAL SUMMARY FUNDING/FISCAL IMPACT: NA FUNDS: NA STAFF RECOMMENDATION/ACTION DESIRED: APPROVE the Sanger Industrial Development 2020 Action Plan. ATTACHMENTS: Description Upload Date Type Action Plan Transmittal Letter 9/1/2020 Cover Memo Action Plan Final 9/1/2020 Cover Memo Sanger, Texas – Industrial Development Corporation 2020 Action Plan - Page 1 of 1 Date: September 1, 2020 To: Board of Directors Sanger Industrial Development Corporation c/o Shani Bradshaw, Executive Director Re: 2020 Action Plan I appreciate the opportunity to assist the Sanger Industrial Development Corporation with the development of your 2020 Action Plan. In order to be ready for discussion and potential action at the upcoming meeting, please review the items noted in red below. • Review the attached Action Plan final draft dated 2020-09-01 − Review for accuracy, omissions, prepare questions, add any info you are aware of • Discuss the results of the prioritization of the Objectives (Pgs 11-12 of Plan) − Review and understand the results of the Objectives prioritization • Discuss the Mission/Goals/Objects (MGO) Report draft (Pgs 15-16 of Plan) − Review and understand the intentions of the MGO report You have accomplished a lot to this point. One more final review should make the Plan ready for implementation. Respectfully, Greg Last, CEO EDP Best Practices, LLC glast@EDPBestPractices.com Enc: Action Plan Draft dated 2020-09-01 Sanger, Texas - Industrial Development Corporation 2020 Action Plan - Draft: 2020-09-01 - Page 1 Industrial Development Corporation 2020 Action Plan 2020-09-01 Prepared By Sanger Texas Industrial Development Corporation Open TBD, President Elizabeth Springer, V.P. Susan Allison, Place 2 Victor Gann, Place 3 TBD, Place 4 Drew Hall, Place 5 Submitted To City Council Thomas Muir, Mayor Marissa Barrett, Place 1 Gary Bilyeu, Place 2 Dennis Dillon, Place 3 Allen Chick, Place 4 David Clark, Place 5 Contributing Staff Alina Ciocan, City Manager Shani Bradshaw, Executive Director www.SangerTXEDC.org Assisted By EDP Best Practices, LLC Greg Last, CEO www.EDPBestPractices.com Sanger, Texas - Industrial Development Corporation 2020 Action Plan - Draft: 2020-09-01 - Page 2 TABLE OF CONTENTS Introduction 2 Community Facts 2 Location 2 Action Plan Purpose 2 Action Plan Process Establishment 3 Authorization 3 Sales Tax Election 3 Articles of Incorporation 3 Bylaws Organizational 3 Meetings 3 Staffing 3 Board Membership 3 Annual Meeting 3 Mission Statement Financials 4 Sales Tax Revenues 4 Total Revenues 4 Expenditures 4 Fund Balance Existing Resources 5 Mapping, website, policies, etc. Activities & Projects 7 Activities-Projects Summary Analysis 8 SWOT Analysis – City 10 SWOT Analysis – SIDC Goals & Objectives 11 Prioritized Objectives 12 Goals & Objectives 18 Mission-Goals-Objectives Status Report Appendices 20 A - Existing Zoning Map 21 B - Future Land Use Plan 22 C - Terms & Definitions INTRODUCTION The City of Sanger (City) is located along Interstate 35 in north central Texas just north of Dallas / Fort Worth region. Community Facts: Following are some brief facts about the City of Sanger, Texas.  Founded in 1886  2010 Census estimated population of 6,916  2019 estimated population of 8,800  Approximately 11.75 square miles currently, 48.52 square miles including the ETJ Location in North Central Texas: Action Plan Purpose: This Action Plan (Plan) is intended to identify, organize and prioritize goals and objectives providing direction for the Sanger Texas Industrial Development Corporation (SIDC) Board. Following is the process to prepare this Action Plan. 1. Identify all organizational documents, budget, resources, prior projects and summarize in Plan 2. Distribute Pre-Meeting SWOT and Objectives forms to Board members for initial ideas 3. Summarize all submitted SWOT ideas and condense common ideas into SWOT statements 4. Summarize all submitted Objectives and condense common ideas into Objectives 5. Discuss / review all input and create finalized Goals & Objectives list 6. Distribute a forced-ranking system to the Board for prioritization of all Objectives 7. Summarize prioritized Objectives Sanger, Texas - Industrial Development Corporation 2020 Action Plan - Draft: 2020-09-01 - Page 3 ORGANIZATIONAL Meetings: The SIDC Board typically meets at City Hall at 1:00 p.m. quarterly or as needed. Staffing: The Executive Director administers and manages the responsibilities of the Industrial Development Corporation (A Board) as well as the Sanger Texas Development Corporation (B Board). Board Membership: The SIDC Board is composed of five (5) members, appointed by the Council for three two-year terms. These members are reflected on the cover of this Action Plan. Board members are not compensated for their commitment. Mission Statement: The Board adopted the following mission statement as a part of this Plan: “The mission of the Sanger EDC is to retain, strengthen and diversify our local economy while capitalizing on our location in north central Texas.” ESTABLISHMENT Authorization: The Sanger Texas Industrial Development Corporation (SIDC) was authorized for establishment and shall be governed by Section 4A of the Development Corporation Act of 1979 (The Act), Article 5190.6, Texas Revised Civil Statutes. Sales Tax Election: On May 2, 1998 the residents of the City approved the adoption of an additional one- half of one percent Sales and Use Tax for projects authorized by Section 4A of the Act. Articles of Incorporation: The Articles of Incorporation (Articles) were approved on November 19, 1998 authorizing and approving the creation of the Sanger Texas Industrial Development Corporation. Article Four states “The Corporation is organized exclusively for the purposes of benefiting and accomplishing public purposes of, and to act on behalf of, the City of Sanger, Texas, and the specific purposes for which the Corporation is organized and may issue bonds on behalf of the City of Sanger, Texas for the promotion and development of commercial, industrial and manufacturing enterprises, to promote and encourage employment and the public welfare, pursuant to the Development Corporation Act of 1979.” SIDC Bylaws: Amended Bylaws for the SIDC were approved by City Council on March 16, 2020 and include the following highlights. 2.01 Purposes: “The purpose of the Corporation is to promote, assist, and enhance economic development in the City of Sanger in accordance with the Act. Any project, as defined by the Act, which shall be undertaken by the Corporation, may include costs, maintenance and operating costs of such project.” Sanger, Texas - Industrial Development Corporation 2020 Action Plan - Draft: 2020-09-01 - Page 4 FINANCIALS Following are major financial aspects of the SIDC. All data reflect a Fiscal Year of October 1 to September 31. Sales Tax Revenue: The most significant revenue for the SIDC is generated by the one-half percent (1/2%) sales tax approved by the election previously discussed as reflected in the following chart: Total Revenues: Total revenues for the SIDC are reflected in the following chart: Expenditures: Expenditures by the SIDC must be approved by the Council prior to expenditure. This may be accomplished via the approval of the budget by Council, or a more formal hearing of the project and proposed expenditures. Actual expenditures over the past several years are reflected in the following chart: Fund Balance: A conservative approach to budgeting and expenditures has maintained an appropriate fund balance. The SIDC fund balances over the past several years are reflected in the following chart: Sanger, Texas - Industrial Development Corporation 2020 Action Plan - Draft: 2020-09-01 - Page 5 Major Employers* Major employers in Sanger include the following:  Wal-Mart Distribution Center  Sanger ISD  Sam’s Distribution Center  City of Sanger  A&W Productions  Eikon Engineering  Babe’s chicken  Super Save  Ampco  Hollingsworth Manufacturing  North Texas Plastics  Sanger Bank City Maps The City maintains a web-based Geographic Information System (GIS) mapping system including the following maps.  Interactive City GIS Map  Existing Zoning Map (Shown at end of Plan)  Future Land Use Plan (Shown at end of Plan)  Master Thoroughfare Plan  Flood Plain Map SIDC Maps* The following SIDC maps are available.  Aerial marketing map shown above  Three (3) location maps are available showing national, Texas and local locations Traffic Counts* The Economic Development Office maintains a Traffic Count Report with 24 hour, two-way, traffic counts for all major roadways in the City. RESOURCES The SIDC currently utilizes the following resources to help in their efforts. SIDC Website - www.SangerTXEDC.org The SIDC has pages dedicated to purposes of the SIDC as part of the City’s website. Significant effort is put into the maintenance and update of information available on the website. *Represents items available on the website. Comprehensive Master Plan Update The City engaged Norris Design to assist with an update to the Comprehensive Master Plan (Comp Plan) and the process is currently underway. Prior ED Strategic Plans There have been no prior Economic Development Strategic Plans for the SIDC. Data* The SIDC maintains significant data on their website including:  Education: Sanger ISD and area colleges  Quality of Life: Housing, recreation, shopping & dining  Taxes: Local and area taxes  Quick Facts: Basic Census data  Workforce: Major Employers and labor data Business Info The Economic Development Office maintains a spreadsheet listing of all the businesses in Sanger. The list currently includes approximately 140 businesses. Chamber of Commerce The Sanger COC has a website located at: https://sangertexas.com/ Sanger, Texas - Industrial Development Corporation 2020 Action Plan - Draft: 2020-09-01 - Page 6 Incentive Agreements The SIDC / City have executed the following incentive agreements:  R&L Carriers: Resolution on 2018-05-01 provided for a grant in the amount equal to 50% of real property taxes paid by company for seven years, extension of water and sewer lines to the property (north of View Road and I-35 north bound service road), waive 50% of all permitting and inspection fees, and waive 100% of water and wastewater impact fees and 50% of roadway impact fees. (City)  Holiday Inn Express: Resolution on 2018-12-01 provided for a Hotel Occupancy Tax Grant and Economic Development Incentive Agreement. The City will provide to the company an economic grant in the amount equal to 50% of real property taxes paid by company for seven years. The City furnished a loop of water lines by connecting to an existing line and installed electrical service to the hotel facility. The City also agreed to provide a grant from the HOT fund that will be payable on a quarterly basis during each grant year. (City)  Walmart Distribution Center: The City provided a Tax Abatement Agreement and the SIDC also helped in the incentive package for the DC. STDC Incentives* The Sanger Texas Development Corporation (Type B Board) also offers incentives in the form of two grant programs  Project Grants: To improve the quality of life in Sanger and meet the eligibility requirements established by Texas state law  Promotional / Community Event Grants: For activities that promote the City of Sanger for business development or tourism RESOURCES cont. Sites & Buildings Summary*  The Economic Development Office maintains a Sites & Buildings Summary which provides a robust listing of available property and buildings in the City SIDC Owned Real Estate*  The SIDC currently owns a 51,000 sf office / warehouse facility on approximately 1.92 acres of land in the center of the City  The building is not occupied and would take considerable investment to bring it to a sellable standard SIDC / City Incentives* The City adopted an Incentives Policy in 2019 including the following provisions.  Tax abatement (City)  Sales Tax Grants  Infrastructure incentives  Fee waivers Sanger, Texas - Industrial Development Corporation 2020 Action Plan - Draft: 2020-09-01 - Page 7 ACTIVITIES SUMMARY Industrial Development Corporation Following is a summary of activities and projects currently in progress or completed in recent years. Sanger, Texas - Industrial Development Corporation 2020 Action Plan - Draft: 2020-09-01 - Page 8 SWOT ANALYSIS City of Sanger, Texas Participants provided SWOT ideas pre-meeting and with discussion. STRENGTHS - City of Sanger What are our strengths? How do we build upon them?  Location along I-35, near DFW, Lake Ray Roberts  Develop maps adequate to market location, local and regional assets  Dedicated funds for Econ. Development  Adopt an Action Plan and implement objectives  Availability of rail  Engage the area rail service provider  Ample parks & open space  Emphasize advantages with marketing and website  Small Town environment  Emphasize advantages with marketing and website  Sanger ISD  Emphasize advantages with marketing and website  Quaint Downtown  Emphasize advantages with marketing and website  City & SISD Leadership  Identify and engage allies and stakeholders  Strong and capable City Staff  Identify and engage allies and stakeholders  Business opportunities  Develop a Marketing & Promotion Plan WEAKNESSES - City of Sanger What are our weaknesses? How do we reduce or eliminate them?  Dead downtown  Encourage City / SEDC to prioritize downtown enhancements  Infrastructure needs improvement / maintenance  Identify and fund infrastructure that supports business growth  No existing business support programs  Implement a comprehensive BRE program  Inadequate facilities for youth  Defer to City / SEDC  Limited high-end housing  Defer to City / SEDC  Lack of unified vision / identity  Participate in Comprehensive Plan update to support business  Inadequate incentive programs  Adopt a comprehensive Incentives Policy  Outdated / vacant buildings  Encourage SEDC to adopt / implement a Property Enhancement Incentives Policy  Lack of business diversity  Develop a Marketing & Promotion Plan  Lack of strong business tax base  Adopt an Action Plan and implement objectives  Ineffective coordination between City, SISD & COC  Defer to City  Lack of higher-quality grocery store  Defer to City / SEDC  Unappealing “front door” to the City  Defer to City / SEDC *Items shown in red text are included in the Objectives Summary Sanger, Texas - Industrial Development Corporation 2020 Action Plan - Draft: 2020-09-01 - Page 9 SWOT ANALYSIS City of Sanger, Texas Participants provided SWOT ideas pre-meeting and with discussion. OPPORTUNITIES - City of Sanger What are our opportunities? How do we take advantage of them?  The Mansion wedding venue  Defer to City / SEDC  Proximity of Lake Ray Roberts  Develop maps adequate to market location, local and regional assets  Retail and industrial development  Maintain a current Sites & Buildings Summary  I-35 / FM 455 highway improvements  Emphasize advantages with marketing and website  Undeveloped properties  Maintain a current Sites & Buildings Summary  Existing vacancies allow for new business  Maintain a current Sites & Buildings Summary  Establishing more green space  Defer to City / SEDC  Organize downtown  Defer to City / SEDC  Existing demand for variety of businesses  Develop a Marketing & Promotion Plan  Partnerships with nearby universities  Partner with allies to establish workforce development programs  Partnerships with school district  Partner with allies to establish workforce development programs  Expanding City limits  Participate in Comprehensive Plan update to support business  Develop a balanced diversity in land uses  Participate in Comprehensive Plan update to support business  Strive to be a destination small town  Defer to City / SEDC THREATS - City of Sanger What are our threats? How do we overcome or minimize them?  Box retail in nearby markets  Defer to City / SEDC  Inadequate retail offerings  Defer to City / SEDC  Lack of clear vision for growth  Participate in Comprehensive Plan update to support business  Competition from Denton / Gainesville  Monitor activities / programs of competing cities for Best Practices  Inadequate tax base  Adopt an Action Plan and implement objectives  Loss of businesses due to highway expansion  Implement a comprehensive BRE program *Items shown in red text are included in the Objectives Summary Sanger, Texas - Industrial Development Corporation 2020 Action Plan - Draft: 2020-09-01 - Page 10 SWOT ANALYSIS Industrial Development Corporation Participants provided SWOT ideas pre-meeting and with discussion. *Items shown in red text are included in the Objectives Summary STRENGTHS - SIDC What are our strengths? How do we build upon them?  Desire to make a difference  Adopt an Action Plan and implement objectives  Good relationship with City Council  Provide an annual report to City Council  Leveraging success by using consultant  Utilize Consultant(s) to increase productivity  Diversified / knowledgeable BOD  Identify training needed / desired by Board and Staff  Good / competent leadership  Identify training needed / desired by Board and Staff  Reserve funds available  Adopt target reserve fund level to maintain  Staff dedicated to ED  Identify training needed / desired by Board and Staff WEAKNESSES - SIDC What are our weaknesses? How do we reduce or eliminate them?  Lack of clear plan for direction  Adopt an Action Plan and implement objectives  Website content  Develop a comprehensive and professional Website  Limited training for Board / Staff  Identify training needed / desired by Board and Staff  Limited experience on BOD  Identify training needed / desired by Board and Staff  No support programs for existing businesses  Implement a comprehensive BRE program  Too much focus on one SIDC building  Evaluate options for the 50,000 sf building and pursue as appropriate  Failure to implement plans  Adopt an Action Plan and implement objectives  No available workforce training facilities  Partner with allies to establish workforce development programs OPPORTUNITIES - SIDC What are our opportunities? How do we take advantage of them?  Adopt an Action Plan and pursue objectives  Adopt an Action Plan and implement objectives  Evaluate options for existing 50,000 sf building  Evaluate options for the 50,000 sf building and pursue as appropriate  Active participation in Comp. Plan to ensure adequate industrial properties  Participate in Comprehensive Plan update to support business  Acquire / support properties for industrial growth  Evaluate opportunities to acquire EDO properties  Extensive / relevant training  Identify training needed / desired by Board and Staff  Identify additional funding sources  Identify additional funding sources to assist with projects / programs  Be more aggressive with incentive programs  Adopt a comprehensive Incentives Policy  Implement more pro-active marketing programs  Develop a Marketing & Promotion Plan  Implement Business Retention & Exp. programs  Implement a comprehensive BRE program THREATS - SIDC What are our threats? How do we overcome or minimize them?  Board member commitment  Establish Board Member roles and responsibilities  Lack of clear plan for SIDC  Adopt an Action Plan and implement objectives  Lack of strong relationship with the 4B (SEDC)  Hold a joint meeting with City Council and SEDC  BOD turnover  Identify what is causing the turnover  Competition from nearby ED programs  Monitor activities / programs of competing cities for Best Practices  Economic downturn / meltdown  Adopt target reserve fund level to maintain  Lack of big-picture awareness  Identify training needed / desired by Board and Staff  Inadequate infrastructure  Identify and fund infrastructure that supports business growth Sanger, Texas - Industrial Development Corporation 2020 Action Plan - Draft: 2020-09-01 - Page 11 PRIORITIZED OBJECTIVES Industrial Development Corporation Following are the results of the prioritization of the Objectives adopted by the Board of Directors. Page 1 of 2 Sanger, Texas - Industrial Development Corporation 2020 Action Plan - Draft: 2020-09-01 - Page 12 PRIORITIZED OBJECTIVES Industrial Development Corporation Following are the results of the prioritization of the Objectives adopted by the Board of Directors. Page 2 of 2 Sanger, Texas - Industrial Development Corporation 2020 Action Plan - Draft: 2020-09-01 - Page 13 GOALS & OBJECTIVES Industrial Development Corporation Following is a summary of the Goals & Objectives sorted by Goals (tan rows). Page 1 of 2 Sanger, Texas - Industrial Development Corporation 2020 Action Plan - Draft: 2020-09-01 - Page 14 GOALS & OBJECTIVES Industrial Development Corporation Following is a summary of the Goals & Objectives sorted by Goals (tan rows). Page 2 of 2 Sanger, Texas - Industrial Development Corporation 2020 Action Plan - Draft: 2020-09-01 - Page 15 M -G -O REPORT Industrial Development Corporation This Mission - Goals - Objectives Progress Report summarizes the Prioritized Objectives in a format that allows monitoring and reporting of progress on a regular basis. (Two -page example only) Page 1 of 2 Sanger, Texas - Industrial Development Corporation 2020 Action Plan - Draft: 2020-09-01 - Page 16 M -G -O REPORT Industrial Development Corporation Page 2 of 2 Sanger, Texas - Industrial Development Corporation 2020 Action Plan - Draft: 2020-09-01 - Page 17 Appendix A Existing Zoning Map Sanger, Texas - Industrial Development Corporation 2020 Action Plan - Draft: 2020-09-01 - Page 18 Appendix B Future Land Use Plan Sanger, Texas - Industrial Development Corporation 2020 Action Plan - Draft: 2020-09-01 - Page 19 Appendix C Terms & Definitions Following are terms used in this Action Plan or referenced during development of the Plan. For a comprehensive list of Economic Development Terms, visit www.EDPBestPractices.com. Act - Development Corporation Act: The Development Corporation Act of 1979, now codified in Chapters 501- 505 of the Texas Local Government Code. This Act authorizes the establishment of EDC’s. Action Plan: A plan developed by an organization to help them focus on goals, objectives, and tasks needed in the near term in order to accomplish their mission. BRE - Business Retention & Expansion: Programs that support and expand existing businesses. CIP - Capital Improvement Plan: A plan for funding improvements to public infrastructure. EDO - Economic Development Organization: A generic description to represent all types of ED agencies. FLUP - Future Land Use Plan: A map of the City showing the desired ultimate land use for all properties in the City. Goal: A statement of a high -level action to be accomplished through the completion of objectives. Incentives: Various inducements that a City might offer a business or developer to invest in their City. Incentives Policy: A Policy approved by the governing body identifying their receptivity to providing various types of incentives, and administrative processes to implement the incentives. Infrastructure: Typically means the water, sewer, streets and drainage improvements owned and maintained by the City. Marketing Collateral: Any number of resources used to help an EDO market their jurisdiction. Marketing Plan: A Plan identifying the venues, targets, and resources needed to market a jurisdiction. Often includes a schedule and budget of events. Master Planning Components: Typically a Future Land Use Plan, Thoroughfare Plan, Park Master Plan, Trail System Plan, Water / Sewer Plans. Mission: A statement identifying the purpose of an organization. NTCAR - North Texas Commercial Association of Realtors: An organization of commercial brokers in the DFW region. www.NTCAR.org Objective: A statement identifying what needs to be done to meet a goal. Prioritization Process: The process of allowing all Board members to rank the identified objectives resulting in a cumulative ranking for the Board. Prospect: A potential new business. SCR - Society of Commercial Realtors: An organization of commercial brokers active primarily in Tarrant County. SIDC - Sanger Industrial Development Corporation: An organization of the City funded by City sales tax. STDC - Sanger Texas Development Corporation: The Type B Economic Development Corporation of the City. Sites & Buildings Summary: A document showing graphically the location of all available land sites in the City, with broker contact information and brief notes on zoning, land use plan, utilities, etc. SOP - Standard Operating Procedure: A procedure pre- established to handle a particular issue consistently. SWOT Analysis: An analysis of the Strengths, Weaknesses, Opportunities and Threats. TEDC - Texas Economic Development Council: A state- wide organization of professionals and volunteers in the economic development industry. Traffic Count Report: A summary of 24 hour, two -way counts of vehicles passing a particular point on a roadway. TxDOT: The Texas Department of Transportation. Zoning Map: A map of the City showing the existing zoning for all properties. 4A ECONOMIC DEVELOPMENT BOARD AGENDA MEMO AGENDA ITEM NO. 5. AGENDA MEETING DATE: September 8, 2020 TO: Shani Bradshaw, 4B FROM: Shani Bradshaw, Director of Economic Development ITEM/CAPTION: Financial Reports Review financial reports. AGENDA TYPE: Work Session ACTION REQUESTED: BACKGROUND: Sales tax revenue collected in July for sales tax in May were $49,189. Sales tax totals for FY 1920 are $443,836 as compared to $361,048 for the same period last FY. LEGAL/BOARD COMMISSION RECOMMENDATIONS/CITIZEN NOTICE FEEDBACK: NA FINANCIAL SUMMARY FUNDING/FISCAL IMPACT: NA FUNDS: NA STAFF RECOMMENDATION/ACTION DESIRED: NA ATTACHMENTS: Description Upload Date Type Balance Sheet July 31, 2020 8/31/2020 Cover Memo Trial Balance Report July 31, 2020 8/31/2020 Cover Memo 4A ECONOMIC DEVELOPMENT BOARD AGENDA MEMOAGENDA ITEM NO. 5.AGENDA MEETING DATE: September 8, 2020TO: Shani Bradshaw, 4BFROM: Shani Bradshaw, Director of Economic DevelopmentITEM/CAPTION:Financial ReportsReview financial reports.AGENDA TYPE: Work SessionACTION REQUESTED: BACKGROUND:Sales tax revenue collected in July for sales tax in May were $49,189. Sales tax totals for FY 1920 are $443,836 ascompared to $361,048 for the same period last FY.LEGAL/BOARD COMMISSION RECOMMENDATIONS/CITIZEN NOTICE FEEDBACK:NAFINANCIAL SUMMARY FUNDING/FISCAL IMPACT:NAFUNDS:NASTAFF RECOMMENDATION/ACTION DESIRED:NAATTACHMENTS:Description Upload Date Type Balance Sheet July 31, 2020 8/31/2020 Cover Memo Trial Balance Report July 31, 2020 8/31/2020 Cover Memo Revenue Expense Report July 31, 2020 8/31/2020 Cover Memo Monthly Sales Tax Report July 31, 2020 8/31/2020 Cover Memo Financial Report July 31, 2020 8/31/2020 Cover Memo 8-19-2020 09:53 AM CITY OF SANGER PAGE: 1 BALANCE SHEET AS OF: JULY 31ST, 2020 41 -4A CORPORATION ACCOUNT # ACCOUNT DESCRIPTION BALANCE _____________________________________________________________________________________________ ASSETS ====== 41-00-1000 CLAIM ON CASH 653,999.28 41-00-1010 CKG-4A CASH (PROSP 90020693) 331,693.12 41-00-1012 MM-4A INV (PROSP 902551273) 478,750.70 41-00-1013 CD - #486639 95,651.45 41-00-1079 ACCUMULATED DEPRECIATION ( 347,163.00) 41-00-1153 SALES TAX RECEIVABLE 35,424.95 41-00-1400 CAPITAL ASSETS 1,121,747.00 2,370,103.50 TOTAL ASSETS 2,370,103.50 ============== LIABILITIES =========== 41-00-2000 ACCOUNTS PAYABLE CONTROL 5,289.77 41-00-2403 ACCRUED WAGES PAYABLE 1,959.45 41-00-2900 Encumbrances ( 43,470.00) 41-00-2910 Reserve for Encumbrance 43,470.00 TOTAL LIABILITIES 7,249.22 EQUITY ====== 41-00-3015 FUND BALANCE - RESTRICTED 1,995,475.98 TOTAL BEGINNING EQUITY 1,995,475.98 TOTAL REVENUE 476,748.52 TOTAL EXPENSES 109,370.22 TOTAL REVENUE OVER/(UNDER) EXPENSES 367,378.30 TOTAL EQUITY & REV. OVER/(UNDER) EXP. 2,362,854.28 TOTAL LIABILITIES, EQUITY & REV.OVER/(UNDER) EXP. 2,370,103.50 ============== 8-19-2020 09:53 AM CITY OF SANGER PAGE: 1 BASE TRIAL BALANCE AS OF: JULY 31ST, 2020 41 -4A CORPORATION *** MONTH TO DATE *** *** YEAR TO DATE *** ACCT# ACCOUNT NAME DEBITS CREDITS DEBITS CREDITS ______________________________________________________________________________________________________________________ ASSETS ====== 41-00-1000 CLAIM ON CASH 35,172.90 653,999.28 41-00-1010 CKG-4A CASH (PROSP 90020693) 0.00 331,693.12 41-00-1012 MM-4A INV (PROSP 902551273) 0.00 478,750.70 41-00-1013 CD - #486639 15.98 95,651.45 41-00-1079 ACCUMULATED DEPRECIATION 0.00 347,163.00 41-00-1153 SALES TAX RECEIVABLE 0.00 35,424.95 41-00-1400 CAPITAL ASSETS 0.00 1,121,747.00 ______________ TOTAL ASSETS 35,188.88 0.00 2,717,266.50 347,163.00 ============== ============== ============== ============== LIABILITIES =========== 41-00-2000 ACCOUNTS PAYABLE CONTROL 4,177.45 5,289.77 41-00-2403 ACCRUED WAGES PAYABLE 0.00 1,959.45 41-00-2900 Encumbrances 3,662.50 43,470.00 41-00-2910 Reserve for Encumbrance 3,662.50 43,470.00 TOTAL LIABILITIES 3,662.50 7,839.95 43,470.00 50,719.22 ============== ============== ============== ============== FUND BALANCE ============ 41-00-3015 FUND BALANCE - RESTRICTED 0.00 1,995,475.98 TOTAL EQUITY/FUND BALANCE 0.00 0.00 0.00 1,995,475.98 ============== ============== ============== ============== REVENUES ======== 41-00-4325 STATE SALES TAX 49,188.96 443,836.88 41-00-4446 Grant Revenue 0.00 5,000.00 41-00-4800 INTEREST INCOME 15.98 2,911.64 41-00-4986 Transfer from 4B 0.00 25,000.00 TOTAL REVENUES 0.00 49,204.94 0.00 476,748.52 ============== ============== ============== ============== EXPENDITURES ============ 41-46-5110 REGULAR SALARIES 8,913.45 65,365.30 41-46-5125 LONGEVITY PAY 0.00 60.00 41-46-5128 AUTO ALLOWANCE 500.00 5,000.00 41-46-5129 CELL PHONE ALLOWANCE 50.00 500.00 41-46-5130 FICA 702.24 5,200.53 41-46-5140 RETIREMENT 787.79 5,853.01 41-46-5150 HEALTH INSURANCE 652.74 6,527.40 41-46-5160 WORKER'S COMPENSATION 0.00 184.73 41-46-5210 OFFICE SUPPLIES 22.53 391.53 41-46-5226 MARKETING & PROMOTION 560.00 3,465.15 8-19-2020 09:53 AM CITY OF SANGER PAGE: 2 BASE TRIAL BALANCE AS OF: JULY 31ST, 2020 41 -4A CORPORATION *** MONTH TO DATE *** *** YEAR TO DATE *** ACCT# ACCOUNT NAME DEBITS CREDITS DEBITS CREDITS ______________________________________________________________________________________________________________________ EXPENDITURES (CONT) ==================== 41-46-5235 DUES & SUBSCRIPTIONS 512.50 1,245.80 41-46-5240 CONFERENCES AND TRAINING 375.00 1,990.54 41-46-5280 COMPUTER SUPPLIES 0.00 1,572.44 41-46-5332 OFFICE MACHINE LEASE 138.36 808.31 41-46-5430 PROFESSIONAL SERVICE 3,635.00 8,109.00 41-46-5450 TECHNICAL SUPPORT 306.40 1,566.48 41-46-5455 COMPREHENSIVE PLAN UPDATE 1,037.50 1,530.00 ______________ TOTAL EXPENDITURES 18,193.51 0.00 109,370.22 0.00 ============== ============== ============== ============== ______________________________________________________________________________________________________________________ *** TOTALS BALANCE *** 57,044.89 57,044.89 2,870,106.72 2,870,106.72 ============== ============== ============== ============== *** END OF REPORT *** 8-19-2020 09:52 AM CITY OF SANGER PAGE: 1 REVENUE & EXPENSE REPORT (UNAUDITED) AS OF: JULY 31ST, 2020 41 -4A CORPORATION FINANCIAL SUMMARY % OF YEAR COMPLETED: 83.33 CURRENT CURRENT PRIOR YEAR Y-T-D Y-T-D BUDGET % OF BUDGET PERIOD PO ADJUST. ACTUAL ENCUMBRANCE BALANCE BUDGET ___________________________________________________________________________________________________________________________________ REVENUE SUMMARY TAXES 385,000.00 49,188.96 0.00 443,836.88 0.00 ( 58,836.88 115.28 GRANTS 0.00 0.00 0.00 5,000.00 0.00 ( 5,000.00 0.00 INTEREST 1,750.00 15.98 0.00 2,911.64 0.00 ( 1,161.64 166.38 TRANSFERS 25,000.00 0.00 0.00 25,000.00 0.00 0.00 100.00 TOTAL REVENUES 411,750.00 49,204.94 0.00 476,748.52 0.00 ( 64,998.52 115.79 EXPENDITURE SUMMARY 46-ECONOMIC DEVELOPMENT 192,535.00 18,193.51 1,398.10 109,370.22 43,470.00 41,092.88 78.66 ___________________________________________________________________________________________________________________________________ TOTAL EXPENDITURES 192,535.00 18,193.51 1,398.10 109,370.22 43,470.00 41,092.88 78.66 REVENUE OVER/(UNDER) EXPENDITURES 219,215.00 31,011.43 1,398.10 367,378.30 ( 43,470.00)( 106,091.40 148.40 8-19-2020 09:52 AM CITY OF SANGER PAGE: 2 REVENUE & EXPENSE REPORT (UNAUDITED) AS OF: JULY 31ST, 2020 41 -4A CORPORATION FINANCIAL SUMMARY % OF YEAR COMPLETED: 83.33 CURRENT CURRENT PRIOR YEAR Y-T-D Y-T-D BUDGET % OF REVENUES BUDGET PERIOD PO ADJUST. ACTUAL ENCUMBRANCE BALANCE BUDGET ___________________________________________________________________________________________________________________________________ TAXES 00-4325 STATE SALES TAX 385,000.00 49,188.96 0.00 443,836.88 0.00 ( 58,836.88 115.28 TOTAL TAXES 385,000.00 49,188.96 0.00 443,836.88 0.00 ( 58,836.88 115.28 GRANTS 00-4446 Grant Revenue 0.00 0.00 0.00 5,000.00 0.00 ( 5,000.00 0.00 TOTAL GRANTS 0.00 0.00 0.00 5,000.00 0.00 ( 5,000.00 0.00 INTEREST 00-4800 INTEREST INCOME 1,750.00 15.98 0.00 2,911.64 0.00 ( 1,161.64 166.38 TOTAL INTEREST 1,750.00 15.98 0.00 2,911.64 0.00 ( 1,161.64 166.38 RENTAL INCOME ______________ ____________ ____________ _____________ ____________ ____________ ______ TRANSFERS 00-4986 Transfer from 4B 25,000.00 0.00 0.00 25,000.00 0.00 0.00 100.00 TOTAL TRANSFERS 25,000.00 0.00 0.00 25,000.00 0.00 0.00 100.00 ___________________________________________________________________________________________________________________________________ TOTAL REVENUES 411,750.00 49,204.94 0.00 476,748.52 0.00 ( 64,998.52 115.79 ============== ============ ============ ============= ============ ============ ====== 8-19-2020 09:52 AM CITY OF SANGER PAGE: 3 REVENUE & EXPENSE REPORT (UNAUDITED) AS OF: JULY 31ST, 2020 41 -4A CORPORATION 46-ECONOMIC DEVELOPMENT % OF YEAR COMPLETED: 83.33 CURRENT CURRENT PRIOR YEAR Y-T-D Y-T-D BUDGET % OF DEPARTMENTAL EXPENDITURES BUDGET PERIOD PO ADJUST. ACTUAL ENCUMBRANCE BALANCE BUDGET ___________________________________________________________________________________________________________________________________ 51-SALARIES AND BENEFITS 46-5110 REGULAR SALARIES 78,100.00 8,913.45 0.00 65,365.30 0.00 12,734.70 83.69 46-5117 VACATION COMPENSATION 1,500.00 0.00 0.00 0.00 0.00 1,500.00 0.00 46-5125 LONGEVITY PAY 60.00 0.00 0.00 60.00 0.00 0.00 100.00 46-5128 AUTO ALLOWANCE 6,000.00 500.00 0.00 5,000.00 0.00 1,000.00 83.33 46-5129 CELL PHONE ALLOWANCE 600.00 50.00 0.00 500.00 0.00 100.00 83.33 46-5130 FICA 6,600.00 702.24 0.00 5,200.53 0.00 1,399.47 78.80 46-5140 RETIREMENT 7,200.00 787.79 0.00 5,853.01 0.00 1,346.99 81.29 46-5150 HEALTH INSURANCE 7,800.00 652.74 0.00 6,527.40 0.00 1,272.60 83.68 46-5160 WORKER'S COMPENSATION 400.00 0.00 0.00 184.73 0.00 215.27 46.18 46-5170 T W C 100.00 0.00 0.00 0.00 0.00 100.00 0.00 TOTAL 51-SALARIES AND BENEFITS 108,360.00 11,606.22 0.00 88,690.97 0.00 19,669.03 81.85 52-SUPPLIES AND MATERIALS 46-5210 OFFICE SUPPLIES 800.00 22.53 0.00 391.53 0.00 408.47 48.94 46-5215 FOOD 300.00 0.00 0.00 0.00 0.00 300.00 0.00 46-5226 MARKETING & PROMOTION 12,000.00 560.00 0.00 3,465.15 0.00 8,534.85 28.88 46-5235 DUES & SUBSCRIPTIONS 2,000.00 512.50 0.00 1,245.80 0.00 754.20 62.29 46-5240 CONFERENCES AND TRAINING 5,000.00 375.00 0.00 1,990.54 0.00 3,009.46 39.81 46-5280 COMPUTER SUPPLIES 500.00 0.00 1,398.10 1,572.44 0.00 325.66 34.87 TOTAL 52-SUPPLIES AND MATERIALS 20,600.00 1,470.03 1,398.10 8,665.46 0.00 13,332.64 35.28 53-MAINTENANCE AND OPERAT 46-5310 R & M BUILDING 5,000.00 0.00 0.00 0.00 0.00 5,000.00 0.00 46-5332 OFFICE MACHINE LEASE 825.00 138.36 0.00 808.31 0.00 16.69 97.98 TOTAL 53-MAINTENANCE AND OPERAT 5,825.00 138.36 0.00 808.31 0.00 5,016.69 13.88 54-CONTRACT SERVICES 46-5430 PROFESSIONAL SERVICE 10,000.00 3,635.00 0.00 8,109.00 0.00 1,891.00 81.09 46-5450 TECHNICAL SUPPORT 1,000.00 306.40 0.00 1,566.48 0.00 ( 566.48 156.65 46-5451 ANNUAL SOFTWARE SUPPORT 1,750.00 0.00 0.00 0.00 0.00 1,750.00 0.00 46-5455 COMPREHENSIVE PLAN UPDATE 45,000.00 1,037.50 0.00 1,530.00 43,470.00 0.00 100.00 TOTAL 54-CONTRACT SERVICES 57,750.00 4,978.90 0.00 11,205.48 43,470.00 3,074.52 94.68 55-UTILITIES ______________ ____________ ____________ _____________ ____________ ____________ ______ 56-GRANT EXPENSES ______________ ____________ ____________ _____________ ____________ ____________ ______ 60-CAPITAL OUTLAY < $5K ______________ ____________ ____________ _____________ ____________ ____________ ______ 8-19-2020 09:52 AM CITY OF SANGER PAGE: 4 REVENUE & EXPENSE REPORT (UNAUDITED) AS OF: JULY 31ST, 2020 41 -4A CORPORATION 46-ECONOMIC DEVELOPMENT % OF YEAR COMPLETED: 83.33 CURRENT CURRENT PRIOR YEAR Y-T-D Y-T-D BUDGET % OF DEPARTMENTAL EXPENDITURES BUDGET PERIOD PO ADJUST. ACTUAL ENCUMBRANCE BALANCE BUDGET ___________________________________________________________________________________________________________________________________ 61-CAPITAL OUTLAY ______________ ____________ ____________ _____________ ____________ ____________ ______ 71-DEPRECIATION ______________ ____________ ____________ _____________ ____________ ____________ ______ 70-DEBT PAYMENTS ______________ ____________ ____________ _____________ ____________ ____________ ______ ___________________________________________________________________________________________________________________________________ TOTAL 46-ECONOMIC DEVELOPMENT 192,535.00 18,193.51 1,398.10 109,370.22 43,470.00 41,092.88 78.66 8-19-2020 09:52 AM CITY OF SANGER PAGE: 5 REVENUE & EXPENSE REPORT (UNAUDITED) AS OF: JULY 31ST, 2020 41 -4A CORPORATION 74-TRANSFERS % OF YEAR COMPLETED: 83.33 CURRENT CURRENT PRIOR YEAR Y-T-D Y-T-D BUDGET % OF DEPARTMENTAL EXPENDITURES BUDGET PERIOD PO ADJUST. ACTUAL ENCUMBRANCE BALANCE BUDGET ___________________________________________________________________________________________________________________________________ 74-TRANSFERS ______________ ____________ ____________ _____________ ____________ ____________ ______ ___________________________________________________________________________________________________________________________________ TOTAL EXPENDITURES 192,535.00 18,193.51 1,398.10 109,370.22 43,470.00 41,092.88 78.66 ============== ============ ============ ============= ============ ============ ====== ** REVENUE OVER(UNDER) EXPENDITURES ** 219,215.00 31,011.43 1,398.10 367,378.30 ( 43,470.00)( 106,091.40 148.40 Month 2015 Total 2016 Total 2017 Total 2018 Total 2019 Total 2020 Total OCT 26,843 26,843 29,528 29,528 33,532 33,532 36,117 36,117 35,425 35,425 41,961 41,961 NOV 31,897 58,740 36,744 66,272 36,725 70,257 38,951 75,068 36,853 72,278 42,075 84,036 DEC 28,786 87,526 30,055 96,327 37,133 107,390 32,669 107,737 36,420 108,698 44,092 128,128 JAN 41,810 129,336 28,916 125,243 32,386 139,776 34,264 142,001 33,403 142,102 27,585 155,713 FEB 38,909 168,245 35,203 160,446 42,385 182,161 48,966 190,967 36,966 179,068 70,059 225,772 MAR 29,841 198,086 30,091 190,537 34,273 216,434 32,712 223,679 32,428 211,496 40,966 266,738 APR 29,329 227,415 31,321 221,858 29,088 245,522 28,440 252,119 32,984 244,481 35,736 302,474 MAY 33,641 261,056 34,401 256,259 42,345 287,867 39,427 291,546 43,134 287,615 41,692 344,166 JUN 29,030 290,086 32,746 289,005 30,853 318,720 31,811 323,357 36,456 324,071 50,482 394,647 JUL 27,800 317,886 32,803 321,808 35,710 354,430 34,802 358,159 36,977 361,048 49,189 443,837 AUG 35,487 353,373 37,628 359,436 42,725 397,155 39,661 397,820 42,598 403,646 SEP 33,366 386,739 31,646 391,082 38,361 435,516 38,280 436,100 38,860 442,506 TOTAL 386,739 386,739 391,082 391,082 435,516 435,516 436,100 436,100 442,506 442,506 443,836 394,647 BUDGET 320,000 66,739 362,500 28,582 362,500 73,016 385,000 51,100 385,000 57,506 385,000 9,647 Actual Actual %Actual Actual % 2019 2020 Change 2019 2020 Change 36,456 49,189 33.0%361,048 443,837 21.8% Year to Date 4A & 4B SALES TAX REVENUE REPORT JulySales Tax Collection 386,739 391,082 435,516 436,100 442,506 443,836 350,000 360,000 370,000 380,000 390,000 400,000 410,000 420,000 430,000 440,000 450,000 2015 2016 2017 2018 2019 2020 TOTAL REVENUE 2015-2020 Percent Budget Actual of Budget Revenue 385,000 443,837 115% 1,750 2,912 166% 25,000 25,000 100% 5,000 411,750 476,749 116% Expenditures 108,360 88,691 82% 20,600 8,665 42% 5,825 808 14% 57,750 11,205 19% 192,535 109,370 57% Revenues Over Expenditures 219,215 367,378 Cash in Bank - First United 653,999 Cash in Bank - Prosperity 331,693 Money Market 478,750 Certificate of Deposit 95,651 1,560,094 Sanger Texas Industrial Development Corporation Fund 4A July 31, 2020 Sales Tax Interest Income Rental Income Transfer from 4B Transfer from Enterprise Fund Grant Revenue Total Revenue Salaries & Benefits Supplies & Materials Maintenance & Operations Contract Services Total Cash Utilities Capital Outlay Debt Service Grant Expense Total Expenditures