Loading...
HomeMy WebLinkAbout10/22/2024-4B-Agenda Packet-Regular4B DEVELOPMENT CORPORATION MEETING AGENDA OCTOBER 22, 2024, 6:00 PM 4B DEVELOPMENT CORPORATION REGULAR MEETING DEVELOPMENT SERVICES BUILDING - 201 BOLIVAR STREET, SANGER, TEXAS 76266 CALL THE REGULAR MEETING TO ORDER AND ESTABLISH A QUORUM INVOCATION AND PLEDGE CITIZENS COMMENTS This is an opportunity for citizens to address the Corporation on any matter. Comments related to public hearings will be heard when the specific hearing begins. Citizens are allowed 3 minutes to speak. Each speaker must complete the Speaker’s Form and include the topic(s) to be presented. Citizens who wish to address the Corporation with regard to matters on the agenda will be received at the time the item is considered. The Corporation is not allowed to converse, deliberate or take action on any matter presented during citizen input. CONSENT AGENDA All items on the Consent Agenda will be acted upon by one vote without being discussed separately unless requested by a Board member to remove the item(s) for additional discussion. Any items removed from the Consent Agenda will be taken up for individual consideration. 1. Consideration and possible action on 4B minutes from 09/24/2024. DISCUSSION ITEMS 2. Porter Park 2 Update. REPORTS 3. Financial Reports. 4. Director Report. FUTURE AGENDA ITEMS The purpose of this item is to allow the President and Board members to bring forward items they wish to discuss at a future meeting, A Board member may inquire about a subject for which notice has not been given. A statement of specific factual information or the recitation of existing policy may be given. Any deliberation shall be limited to a proposal to place the subject 1 on an agenda for a subsequent meeting. Items may be placed on a future meeting agenda with a consensus of the Corporation or at the call of the President. ADJOURN NOTE: The Corporation reserves the right to adjourn into Executive Session as authorized by Texas Government Code, Section 551.001, et seq. (The Texas Open Meetings Act) on any item on its open meeting agenda in accordance with the Texas Open Meetings Act, including, without limitation Sections 551.071-551.087 of the Texas Open Meetings Act. CERTIFICATION I certify that a copy of this meeting notice was posted on the bulletin board at City Hall that is readily accessible to the general public at all times and was posted on the City of Sanger website on October 17,, 2024, at 5:00 PM. Stefani Dodson The Historical Church is wheelchair accessible. Request for additional accommodations or sign interpretation or other special assistance for disabled attendees must be requested 48 hours prior to the meeting by contacting the City Secretary’s Office at 940.458.7930. 2 4B DEVELOPMENT CORPORATION COMMUNICATION DATE: October 22, 2024 FROM: Shani Bradshaw, Director of Economic Development AGENDA ITEM: Consideration and possible action on 4B minutes from 09/24/2024. SUMMARY:  4B Board Minutes from 09/24/2024. FISCAL INFORMATION: Budgeted: NA Amount: NA GL Account: NA RECOMMENDED MOTION OR ACTION: Staff recommends approval. ATTACHMENTS: 4B Minutes from 09/24/2024. 3 Item 1. 4B Minutes 09-24-2024 Page 1 of 3 4B DEVELOPMENT CORPORATION MEETING MINUTES SEPTEMBER 24, 2024, 6:00 PM 4B DEVELOPMENT CORPORATION REGULAR MEETING DEVELOPMENT SERVICES BUILDING - 201 BOLIVAR STREET, SANGER, TEXAS 76266 CALL THE REGULAR MEETING TO ORDER AND ESTABLISH A QUORUM As there was a quorum John Payne called the meeting to order at 6:00 p.m. BOARD MEMBERS PRESENT Board Member, Place 1 Lee Allison Board Member, Place 2 John Payne Board Member, Place 3 Matt Fuller Board Member, Place 4 Beverly Howard Board Member, Place 7 Carrie Bilyeu BOARD MEMBERS ABSENT Board Member, Place 5 Jeff Springer Board Member, Place 6 Eddie Piercy STAFF MEMBERS PRESENT Director of Economic Development Shani Bradshaw, Secretary Shelley Warner INVOCATION AND PLEDGE Invocation was led by Board Member Springer. Pledge was led by Board Member Howard. CITIZENS COMMENTS No citizens came forward to speak. 4 Item 1. 4B Minutes 09-24-2024 Page 2 of 3 CONSENT AGENDA 1. Consideration and possible action on 4B minutes from 08/27/2024. Motion to approve the consent agenda as shown was made by Board Member Bilyeu. Seconded by Board Member Howard. Voting Yea: Board Member Payne, Board Member Fuller. Board Member Allison abstained from the vote. The motion passes unanimously. PUBLIC HEARING ITEMS 2. Conduct a Public Hearing on financial incentives to Randall’s Food & Drugs, LP in the amount not to exceed One Million Dollars ($1,000,000) in exchange for performance obligations to the 4B Sanger Texas Development Corporation Board Member Payne opened the Public Hearing at 6:01 p.m. Director Shani Bradshaw provided an overview of the item. Board Member Payne closed the Public Hearing at 6:02 p.m. ACTION ITEMS 3. Consideration and possible action to approve and authorize the execution of a Performance Agreement with Randall’s Food & Drugs, LP, to provide financial incentives in the amount not to exceed One Million Dollars ($1,000,000) in exchange for economic development obligations to the 4B Sanger Texas Development Corporation, subject to City Council approval. Director Bradshaw went over the Agreement with the Board. Board Member Allison asked about the terms of the Agreement, and Director Bradshaw went over the terms outlined in the Agreement. Motion to approve and authorize the execution of a Performance Agreement with Randall’s Food & Drugs, LP, to provide financial incentives in the amount not to exceed One Million Dollars ($1,000,000) in exchange for economic development obligations to the 4B Sanger Texas Development Corporation was made by Board Member Fuller. Seconded by Board Member Bilyeu. Voting Yea: Board Member Allison, Board Member Payne, and Board Member Howard. The motion passes unanimously. FUTURE AGENDA ITEMS No future items were discussed. 5 Item 1. 4B Minutes 09-24-2024 Page 3 of 3 ADJOURN As there were no further items on the agenda Board Member Payne adjourned the meeting at 6:12 p.m. 6 Item 1. 4B DEVELOPMENT CORPORATION COMMUNICATION DATE: October 22, 2024 FROM: Shani Bradshaw, Director of Economic Development AGENDA ITEM: Porter Park 2 Project Update SUMMARY:  Staff will present two Conceptual Plans, one showing only one Miracle League Field and the other showing two.  Conceptual Plans will be presented to the City Council for review and approval. FISCAL INFORMATION: Budgeted: NA Amount: NA GL Account: NA RECOMMENDED MOTION OR ACTION: NA ATTACHMENTS:  Staff to provide. 7 Item 2. 4B DEVELOPMENT CORPORATION COMMUNICATION DATE: October 22, 2024 FROM: Shani Bradshaw, Director of Economic Development AGENDA ITEM: Financial Reports. SUMMARY:  Staff will provide a Financial and Sales Tax Report Update. FISCAL INFORMATION: Budgeted: NA Amount: NA GL Account: NA RECOMMENDED MOTION OR ACTION: NA ATTACHMENTS: Financial Report for September 2024 Sales Tax Report for September 2024 8 Item 3. 2023-2024 2023-2024 Total Budget 76-ECONOMIC DEVELOPMENT BUDGET YTD (Sept 27)Encumbered Balance REVENUE State Sales Tax 875,000 825,750 49,250 Grant Revenue - - Interest Income 35,000 57,412 (22,412) Rental Income 900 900 Misc. Income - - TOTAL 4B FUND REVENUE 910,900.00$ 883,162.29$ -$ 27,737.71$ EXPENDITURES 51-SALARIES AND BENEFITS Salaries & Benefits 63,475 62,259 1,216 TOTAL 51-SALARIES AND BENEFITS 63,475 62,259 - 1,216 52-SUPPLIES AND MATERIALS Office Supplies 500 285 215 Computer Hardware 1,000 460 540 Computer Software 3,500 2,000 1,500 Food 200 200 Postage 50 7 43 Marketing & Promotions 50,000 24,819 10,450 14,731 Dues & Subscriptions 8,000 7,153 500 347 Conferences & Training 10,000 5,165 4,835 Furniture & Fixtures - - - TOTAL 52-SUPPLIES AND MATERIALS 73,250 39,889 10,950 22,411 53-MAINTENANCE AND OPERATIONS R&M Building 2,200 2,200 2,200 Office Machine Lease 900 706 194 TOTAL 53-MAINTENANCE AND OPERAT 3,100 2,906 - 2,394 54-CONTRACT SERVICES Legal Services 1,000 - 1,000 Professional Services 160,800 135,959 17,771 7,070 Technical Support 1,000 - 1,000 Website - - - TOTAL 54-CONTRACT SERVICES 162,800 135,959 17,771 9,070 56-GRANT EXPENSE Promo/Community Event Grant - - - - Property Enhancement Grant 60,000 29,445 (2,485) 33,040 TOTAL GRANT EXPENSE 60,000 29,445 (2,485) 33,040 61-CAPITAL OUTLAY Infrastructure - - - - Downtown Park Project - - - Porter Park 2 - - TOTAL 61-CAPITAL OUTLAY - - - - 74-TRANSFERS Transfer to General Fund - - - - Transfer to Debt Services 180,000 180,000 - - Transfer to CIP Fun - - - - Transfer to Internal Services 15,000 15,000 - - TOTAL 74-TRANSFERS 195,000 195,000 - - TOTAL 4B FUND EXPENDITURES 557,625 465,459 31,206 68,130 REVENUE OVER/UNDER EXPENDITURES 353,275.00$ 417,703.62$ (40,392.53)$ Cash in Bank - Checking 208,212.13$ Certificate of Deposit 296,752.89$ Claim on Cash 2,298,528.28$ TOTAL CASH 2,803,493.30$ 4B FUND - SANGER TEXAS DEVELOPMENT CORPORATION 9 Item 3. Month 2019-2020 Total 2020-2021 Total 2021-2022 Total 2022-2023 Total 2023-2024 Total OCT 41,961 41,961 52,602 52,602 50,303 55,222 65,621 65,621 84,045 84,045 NOV 42,075 84,036 50,054 102,656 55,222 105,525 61,751 127,372 72,499 156,544 DEC 44,092 128,128 52,405 155,061 48,145 153,670 72,220 199,591 62,317 218,861 JAN 27,585 155,713 44,941 200,002 56,155 209,825 61,974 261,565 78,147 297,009 FEB 70,059 225,772 62,144 262,146 76,753 286,579 71,749 333,314 69,257 366,266 MAR 40,966 266,738 49,700 311,846 57,471 344,049 52,565 385,879 61,032 427,298 APR 35,736 302,474 48,180 360,026 44,446 388,495 54,627 440,506 45,186 472,483 MAY 41,692 344,166 63,691 423,717 64,395 452,890 67,275 507,780 67,969 540,452 JUN 50,482 394,647 47,099 470,816 65,968 518,858 60,186 567,966 73,838 614,290 JUL 49,189 443,836 50,290 521,106 56,987 575,845 61,729 629,695 68,028 682,319 AUG 47,386 491,222 62,523 583,629 68,209 644,054 62,807 692,502 72,940 755,259 SEP 42,073 533,295 52,474 636,104 51,911 695,965 63,730 756,232 70,492 825,750 ` TOTAL 533,295 533,295 636,104 636,104 695,965 695,965 756,232 756,232 825,750 825,750 BUDGET 385,000 148,295 462,500 173,604 600,000 95,965 800,000 (43,768)875,000 (49,250) Actual Actual %Actual Actual % 2024 2023 Change 2024 2023 Change $ 70,494 $ 63,730 11%$ 825,750 $ 756,232 9% ` Year To DateSales Tax Collection Economic Development Sales Tax Report - September 2024 September 533,295 636,104 695,965 756,232 825,750 0 100,000 200,000 300,000 400,000 500,000 600,000 700,000 800,000 900,000 2019-2020 2020-2021 2021-2022 2022-2023 2023-2024 SALES TAX REVENUE 2019-2024 10 Item 3. 4B DEVELOPMENT CORPORATION COMMUNICATION DATE: October 22, 2024 FROM: Shani Bradshaw, Director of Economic Development AGENDA ITEM: Director Report. SUMMARY:  Staff will provide an update on Economic Development Activity. FISCAL INFORMATION: Budgeted: NA Amount: NA GL Account: NA RECOMMENDED MOTION OR ACTION: NA ATTACHMENTS: Staff will provide. 11 Item 4.