- - THE CITY OF JRANDVIEW TEXAS Founded 1854 REGULAR TYPE B ECONOMIC DEVELOPMENT CORPORATION MINUTES AUGUST 5, 2024 The Type B Economic Development Corporation Board met on Monday, August 5, 2024, at 5:00 p.m. at City Hall. 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 18, 2024, as presented. Board Member O'Bryan made a motion to accept the minutes 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 there for the remaining voting items in one presentation. Mrs. Reading began by going over the budget amendments for fiscal 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 ifthere are any changes or modifications to be made. The projected endingfor 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, EDC B Funds by $30,000 each, and we. fell short in our street maintenance fund. We had $500 in legalfees, $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 $10,000. 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 FYbudget. This is a dual EDC. A and EDCB. Agreement. Reimbursements were $38,000. Marketing is $15,000,, funds for Type B go to the Chamber ofCommerce. 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 did not know about. We had a 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 in placej for? 10years, we are on year 4. It was amended. Will see an increase in R & K opening back up. We've accounted, for the EDC agreement and marketing, funds but there are some changes in the proposed budget. No questions on the budget amendment for FY: 2023-2024. Proposed budget for the nextfiscal year 2024-2025. We have $150,000. We took the interest down to $20,000. Removed legal fee 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 $9,000 from $25,000 (notfor standard park maintenance it is for events that were there that would require additional maintenance, like more trash to be picked up to pay) for the overtime, or porta-potties). 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 passed on. Marketing Funds for the Chamber ofCommerce, state allows us to allocate 10% ofour EDCfund to. for marketing. Budget is $15,000, requirement of promotional materials. We do require receipts to verify the autonomy we are givingis exercised transparently. No questions. 6 4 r Board MemberDudley made a motion to approve item 5B. Bam.Membe/Houstion. seconded the motion. Motiono carried: all eyes. k F F : C.S Discussiand 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 of marketing. 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 of Grandview for administrative services. Board Member Dudley made a motion to approve item 5D. Board Member O'Bryan seconded the motion. Motion carried - all eyes. E. 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 5:51 P.M. CITY OF GRANDVIEW President Bogard or Board Member ATTEST: I - - - / ammim ) Aule Shannon Pruitt, City Secretary TEXAS Type B EDC Meeting Minutes, August 5, 2024