THE CITY OF JRANDVIEW TEXAS Founded 1854 REGULAR TYPE B ECONOMIC DEVELOPMENT CORPORATION MINUTES The Type B Economic Development Corporation Board met on Monday, August 5, AUGUST5,2024 2024, at 5:00 p.m. at City Hall. 1.1 Roll Call and Call To Order By Board Member Hundley At 5:16 P.M. Board Members Present: William Houston Darla Dudley Justin Jones (Absent) Scotty O'Bryan Craig Hundley Johnnie Gibbons (Absent) Stewart Bogard (Absent) Administration Present: Katherine Reading, City Manager Shannon Pruitt, City Secretary 2. Invocation was led by Board Member Houston. 3. Pledge of Allegiance to the U.S.A. flag and Texas Pledge was led by President Bogard. 4. Public Comments: There were no comments made. Type B EDC Meeting Minutes, August 5, 2024 5.Action Items: A. Consider approval of minutes from the Type B EDC Meeting held on April Board. Member O'Bryan made a motion to accept the minutes as presented. 18, 2024, as presented. Board. Member Dudley seconded. the motion. Motion carried- all eyes. B. Discuss and consider approval of Budget amendments for Fiscal Year 2023-2024. Presented by: Katherine Reading, City Manager Katherine Reading, City Manager, made a request to present all the budget amendments in addition to the proposed items that will be listed on therefor Mrs. Reading began by going over the budget amendments for fiscalj year 2023-2024. A budget amendment is that the original budget that we created back in October was the projection right and then we have to amend the budget The projected ending for. sales tax is $150,000 where originally it was about $180,000: We fell short in the general fund by about $120,000, EDC'A, EDCB Funds by $30,000 each, and we fell short in our street maintenance. fund. We had $500 in legal fees, $2,500 in training and travel, and then we had administration. Façade Grants landed at about 86,000. City. Park Maintenance landed at about $18,000 and. Park and. Events Board landed at There was a sales tax agreement that was out that we were not aware ofwhen the budget was first created back in October. This is a Performance Agreement based on sales tax and reaching a base level of818 million. It has been placed in the FY budget. This is a dual EDC. A and. EDCB Agreement. the remaining voting items in one presentation. ifthere are any changes or modifications to be made. $10,000. Reimbursements were $38,000. Marketing is $15,000,funds for Type B go to the Chamber of Commerce. Type B projects is landing at $16,900. The. splash pad is $36,000. We have a $30,000 shortfall and a $38,000 agreement that we didi not know about. We had as shortfall in this fund ofabout $64,000. The beginning. fund balance was $542,000, and we're landing at about $478,000 for this fund. Type B EDC Meeting Minutes, August 5, 2024 How long is this agreement inj placefor? 10 years, we are on year 4. Itwas amended. Will. see an increase in R&l Kopening back up. We've accounted, for the EDC agreement and marketingfinds but there are some changes in the proposed budget. No questions on the budget amendment Proposed budgetj for the nextj fiscal year 2024-2025. We have $150,000. We took the interest down to $20,000. Removed legalfee of85,000 (was projected). We are landing at $500 (projected budget). Legal services wrapped up in administrative services. When legal drafis a document we pass that fee onto the applicant. $10,000 in Facade Grants (new construction does not qualify). City Park. Maintenance is down to $9,000from $25,000 (not for standardpark maintenance it is for events that were there that would require additional maintenance, like more trash to be picked up to payfor the overtime, MOU, 15% assessment ofwhat is required. We are only charging legalfor $5,000, which is 20% less. State requirements. for publication, 60 notice postings, meeting services legal services and development services, cost is Marketing Funds for the Chamber ofCommerce, state allows us to allocate 10%ofour EDCfund toj for marketing. Budget is $15,000, requirement of promotional materials. We do require receipts to verify the autonomy we are for FY2023-2024. orporta-potties). passed on. givingis exercised transparently. No questions. BoatMemberDudly made a motion to approve item 5B. BamPMembefHouston. seconded the motion. * Motion At EA carried- all eyes. SFy Discussiând consider approval of Resolution R24-08051 approving 10% of marketing funds to be given to the Greater Grandview Chamber of Commerce for the public purpose ofmarketing. Board. Member Houston made a motion to approve item 5C. Board. Member. Hundley seconded the motion. Motion carried - all eyes. Type B EDC Meeting Minutes, August 5, 2024 D. Discuss and consider approval of the Memorandum of Understanding between EDC Type B and the City ofGrandview foradministrative services. Board Member Dudley made a motion to approve item 5D. Board. Member O'Bryan seconded the motion. Motion carried - all eyes. E.I Discuss and consider approval of proposed Budget for Fiscal Year 2024- 2025. Board Member Houston made a motion to approve Item 5E. Board. Member Dudley seconded the motion. Motion carried - all eyes. 6. Adjourn Meeting: Board President made a motion to adjourn the meeting at 5:511 P.M. CITY OEGRANDVIEW 3 President Bogard or Board Member ATTEST: GRAND SimmmButt Shannon Pruitt, City Secretary TEXAS Type B EDC Meeting Minutes, August 5, 2024