FEDC takes care of Busy Beavers

During its regular Aug. 09, 2018 meeting, the Forney Economic Development Corp. met and in summary:

• Financial report: 83% thru year, sales tax 82%, 9% ahead of last year, expenses are within budget. Mr. Ketteman said Mr. Burrus noticed a miscalculation in the report, what they have is corrected version.
  
• Executive Director's report: consulting trips, due to talking w/ other EDCs, staff has been to Dennison, Jacksonville, Richmond; they have all visited here. HOT funds: staff working w/ IT to digitize applications, next year should be able to do that and followup reports online. W. Broad sewer, met w/ Kenny Barnes near Deen Implement about the line going through his property. LI zoning change was approved by P&Z, will go to council, will be 80% masonry on front and any other side facing a public road.
  
• Delayed acting on a mowing contract for the Detention Pond (near WalMart and AMC), will be discussed in executive session due to questions about ownership.
  
• Approved budget adjustment for Business Park maintenance. Mr. Ketteman said original packet didn't have some information - pond behind Lowes, he has never done any maintenance. A pair of beavers dammed the pond, causing some erosion which was affecting a dumpster pad and exposed a gas line. They had to trap the beavers, then drain the pond, then clean it out. There is money in the budget for maintenance and repairs, they need to move 150k on the budget for the emergency repairs and rebuilding.
      Ms. Browning asked if this money was already spent, without authorization - yes, because it was an emergency operation. This is not the pond Mr. Cunningham maintains. Chmn. McBeth says he went and viewed it. Mr. Alexander verified this was something they had to do - Mr. Ketteman said yes, pond was conveyed to the city, EDC has maintenance contract. Mr. Ketteman doesn't know if there has ever been maintenance on the pond. Mr. Dormier has said should set aside 10k / year.
      In 2003 the developer conveyed the pond and provided $10k for maintenance. This money is not coming out of fund balance, it's just being moved between line items. The rest of the work will be done by an RFP and bids. Ms. Browning asked if there was an estimate before work done - no. She noted the invoice included 993 hrs for cleanup. Mr. Ketteman said there is over $400k in the project expense budget fund. Ms. Browning said she doesn't like that the money was spent without a 2nd opinion. They should have been alerted.
  
• Approved Performance Agreement - downtown parking. Mr. Ketteman said the FISD project is almost finished, additional parking has been added (where the greenbelt was), this is to pay 1/2 of the costs (city pays the other 1/2). Ms. Browning asked if there was any maintenance requirement for EDC - Mr. Thatcher said no. Chmn. McBeth asked about the 10 year agreement could be extended- Mr. Thatcher said yes, and if FISD voids the agreement they have to reimburse City and EDC. Mr. Ketteman said this also gives city first right refusal if FISD sells the building.
  
• Approved Economic Incentive and Performance Agreement with Forever Faded Hair Lounge.
  Mr. Ketteman said they took action in June, for Mr. Simon. Maximum commitment is $4,500. This is just followup paperwork.
  
• Approved Economic Incentive and Performance Agreement with LCG Highway 80, LLC
  Mr. Ketteman said this is also followup paperwork, section 5 - the board agreed a total of 200k - 100k after they put construction on the ground to get reimbursement. The 2nd 100k after they pull a building permit. Mr. Thatcher said this was declared a project, which has 60 day for public protest, which has now occurred.
  
• Approved a Victorian Village Letter of Intent to lease.
  Mr. Ketteman said the board has had discussion, and included money in budget, for leasing space; City Hall is full. They have opportunity to be an anchor tenant; will have a conference area. This is not a lease agreement. Chmn. McBeth asked if $20/ft finish-out is realistic ; Mr. Ketteman said its an incentive, would be nice to get more, but probably won't have much to do.
  
• Approved 548 / 741 Project Declaration.
      Mr. Ketteman said this is where 7-11, vet. clinic, Kickapoo Trace, Bush's Chicken. The developer has prospects. This gets the 60 day process started. This doesn't have any legal ramifications for the owner.
  
• Approved Incentives policy.
  Mr. McGregor said about 1 year ago staff put policy online, never put a cover letter describing the options. Main Points: don't do residential incentives, not a venture capital source. Chmn. McBeth asked about downtown - doesn't affect that or facade incentives.
  
• Held a 62-minute executive session re:
  
• Approved contract for retention pond.
  
• Mr. Ketteman wanted some direction on ICSC - board agreed it is useful. Will be going to NTCAR event.
  
• Adjourned at 2032.