HomeMy WebLinkAbout10-11-04 4A ED Agenda PacketNotice of Board of Directors of the 4A Development Corporation Page 1 of 1
TOWN OF WESTLAKE, TEXAS
STLAKE
NOTICE OF MEETING
TO THE CITIZENS OF THE TOWN OF WESTLAKE, TEXAS:
Notice is hereby given that the Board of Directors of the 4A Development Corporation of the Town of
Westlake, Texas, will meet at 6:45 p.m. on Monday, October 11, 2004, in the Board room located at
2650 J.T. Ottinger Road, in the Town of Westlake, Texas. The Board will consider the following
agenda:
1. Meeting called to order.
2. Review and approve minutes of the meeting held on June 23, 2003.
3. Conduct a Public Hearing to consider approving capital projects using 4A funds in the FY
2004/05 budget, in furtherance of the economic development projects of the Town of Westlake as
authorized in Section 4A of the Texas Revised Civil Statutes, Ann. sec. 5190.6.
4. Adjournment.
CERTIFICATION
I certify that the above notice was posted at the Town Hall of the Town of Westlake, 2650 J.T. Ottinger
Road, Westlake, Texas, on Friday, October 8, 2004, at 5:00 p.m., under the Open Meetings Act, Chapter
551 of the Texas Government Code.
in r rosswy, Town Se tart'
The Board of Directors may at any time convene into executive session as authorized by Chapter 551 of
the Texas Government Code to discuss any item posted on the agenda.
If you plan to attend this public meeting and have a disability that requires special needs, please advise
the Town Secretary 48 hours in advance at 817-490-5710 and reasonable accommodations will be made
to assist you.
http://www.westlake-tx.org/agendas/4aal 01104.htm 10/11/2004
Minutes of the 4A Corporation meeting
TOWN OF WESTLAKE, TEXAS
MINUTES OF THE MEETING
OF THE BOARD OF DIRECTORS OF THE
WESTLAKE 4A CORPORATION
June 23, 2003
Present: Bill Greenwood, Chairman
Elton Haynes, Vice Chairman
Scott Bradley, Member
Fred Held, Member
Trent Petty, Town Manager
Stan Lowry, Town Attorney
Ginger Crosswy, Town Secretary
Absent: David Loeser, Member
Page 1 of 2
Ix J Westlake, Texas
Item 41: Chairman Greenwood called the meeting to order at 6:45 p.m. by announcing a quorum
consisting of Mr. Haynes, Mr. Bradley, Mr. Held and himself.
Item #2: Review and approve minutes of the meeting held on May 12, 2003. There was a motion by Mr.
Held, seconded by Mr. Haynes, to approve the minutes as presented. There was no discussion and the
motion carried unanimously.
Item 93: Conduct a Public Hearing to consider a grant to the Town totaling $221,000.00 to purchase a
2.03 acre tract at the NW corner of US 377 and US 170 and to amend the 2002/03 budget, in furtherance
of the economic development projects of the Town as authorized in Section 4A of the Texas Revised
Civil Statutes, Ann. Sec. 5190.6. Mr. Petry told the Board that due to new legislation regulating the areas
where 4A funds may be used, staff is recommending this item be tabled pending additional information
from the Town's attorney and the Texas Economic Development Council. There was a motion by Mr.
Held, seconded by Mr. Haynes, to table this item. After a short discussion the motion carried
unanimously.
Item 44: Motion by Mr. Bradley, seconded by Mr. Held, to adjourn. The motion carried unanimously.
The meeting was adjourned at 6:55 p.m.
Approved on
William E. Greenwood, Chairman
ATTEST:
Ginger Crosswy, Town Secretary
fi 1 e-IIC':\Documents%20and%20Settin2s\izcrosswy\Desktop\OnTheWeb\agendas\4am0623... 9/22/2004
WESTLAKE 4A DEVELOPMENT CORPORATION
MEMO
TO: Chairman and Members of the Board of the Westlake 4A Development
Corporation
FROM: Trent Petty, Town Manager
DATE: September 22. 2004
SUBJECT: September 27. 2004 meeting
ITEM
Consider adopting the proposed FY 2004//2005 budget including final amendments to FY
2003/2004 for 4A Corporation.
RECOMMENDATIONS
Staff recommends approval.
BACKGROUND
The attached detail represents the approved budget for FY 04-05 and amendments to FY 03-04
budget as approved bi. the Board of Aldermen on August 23, 2004 with the exception of the 55,000
loan to the N\-'estlake AcademN- Foundation.
4A CORPORATION
Program Summary
4A Corporation
Actual
FY 02/03
Adopted
FY 03/04
Amended
FY 03/04
Adopted
FY 04/05
Beginning Balance
1,212,680
938,101
860,405
493,208
Balance Sheet Affect to Cash '
1,304,015
-
-
-
Revenues
612,453
238,336
547,200
653,200
Expenditures
277,987
-
358,082
35,760
Transfers Out
1,990,756
1,176,437
561,315
945,687
Ending Balance
860,405
-
488,208
164,961
4A Corporation - Transfers Out
Actual
FY 02/03
Adopted
FY 03104
Amended
FY 03/04
Adopted
FY 04/05
General Fund
-
-
-
Dissolution of 4A
1,176,437
Capital Projects
FM 1938 Engineering -WL Portion of Unnamed
-
36.857
FM 1938 Engineering - WL Portion
-
-
82,174
56,667
Duct Bank Infrastructure
1,990,756
-
-
-
SH 114 Commerical Growth
-
-
889.020
413 Funds
Duct Bank (transferred from 4B - S/B 4A)
-
-
442,284
-
Total Transfers Out
1,990,756
1,176,437 1
561,315
945,687
Balance sheet affect to cash represents balances between the fiscal years that affect cash and are reflected
in current year revenues and expenditures, i.e. payables and receivables posted to current year's books but
cash is not paid nor received until the subsequent year. Also included are inter -fund loans not yet paid or
received.
4A CORPORATION - Fund 230
Fiscal Year 2004/2005
Adopted Amended Adopted
Actual Budget Budget Budget
FY 02/03 1 FY 03/04 1 FY 03/04 1 FY 04/05
REVENUE
31310 00 Sales Tax Revenue 596,500 233,336 540,000 650,000
36110 00 Interest Income 15,953 5,000 7,200 3,200
TOTAL REVENUESI 612,453 1 238,336 1 547,200653,200
EXPENDITURES
1,212,680
938,101
860,405
493,208
47901
00
114 Bridge Enhancements
0
0
0
0
43310
00
Boyle & Lowry Legal
0
0
0
0
47902
00
FM1938Interchange
39,809
0
216,897
0
47903
00
FM 1938 (114 to 1709)
0
0
0
0
47904
00
114 Commercial Growth
61,352
0
136,185
0
0
00
Fidelity Tax Reimbursement
110,000
0
0
35,760
0
00
Bridge Enhancements
571
0
0
0
0
00
Ottinger/Dove Rd Intersection Rebuilc
802
0
0
0
0
00
Westlake Academy Foundation Loan
25,000
0
5,000
0
0
00
Telecommunications Conduit
40,453
0
0
0
TOTAL EXPENDITURES1
277,987 1
0 1
358,082 1
35,760
NETI 334,466 1 238,336 1 189,118 1 617,440
TRANSFERS
1,212,680
938,101
860,405
493,208
62509 FM 1938 Engineering (WL Portion)
0
0
36,857
0
62509 FM 1938 Engineering (WL Portion)
0
0
82,174
56,667
Duct Bank Infrastructure
1,990,756
0
0
0
General Fund - Dissolution of 4A
0
1,176,437
0
0
Duct Bank inadvertently transferred from 4B/s/b 4A
0
0
442,284
0
Transfer to Capital Project Fund 410
SH114 Commercial Growth 0 0 0 889,020
TRANSFERS OUTI 1,990,756 1 1,176,437 1 561,315 1 945,687
SUMMARY
Projected Ending Fund Balance
1,212,680
938,101
860,405
493,208
Balance Sheet Affect to Cash
1,304,015
0
0
0
Total Revenue
612,453
238,336
547,200
653,200
Total Expenditures
(277,987)
0
(358,082)
(35,760)
Transfers Out
(1,990,756)
(1,176,437)
(561,315)
(945,687)
SUMMARYI
860,405 1
0 1
488,208 1
164,961
1 of 1
FM1938 /Hwy 114 Interchange Improvements
Project Description:
As State Hwy 114 is improved by TXDOT, the Town of Westlake will make aesthetic improvements to the basic state supported design
and construction specifications in order to accent the major entryway of FM 1938 and HWY 114
actual actual
BUDGET
TOTAL 1 591,080 11 0 I 278,714 I 269,660 1 0 1 548,375 1 42,705
VARIANCE (1) 0 1 (13,398) 230,294 1 (216,897) 0 0
9/21/2004
155 PM
I
I 00/011
I 01/02
I
02/03 I
03/041
I TOTAL
I BALANCE
Design
591,081
0
292,112
39,366
216,897
548,375
42,705
TOTAL
591,081
0
292,112
39,366
216,897
548,375
42,705
PROJECT
FUNDING
actual
actual
actual
actual
BUDGET
00/01
01/02
02/03
03/04
TOTAL
BALANCE
Prior Year Remaining Fund
0
0
4A to 4B Interfund Loan 9/30/02
57,367
0
57.367
0
0
57,367
0
4A Grant (05/28/03 - 07/02/03)
4,850
0
0
4,850
0
4,850
0
4A Grant (05/28/03)
571
0
0
571
0
571
0
4A Grant (10/31/02 - 06/30/03)
33,945
0
0
33,944
0
33,945
0
4A Grant (09/30/02)
21,347
0
21,347
0
0
21,347
0
4B Grant (10/04/01 - 09/30/02)
200,000
0
200,000
0
0
200,000
0
4A Grant
273,000
0
0
230,295
0
230,295
42,705
TOTAL 1 591,080 11 0 I 278,714 I 269,660 1 0 1 548,375 1 42,705
VARIANCE (1) 0 1 (13,398) 230,294 1 (216,897) 0 0
9/21/2004
155 PM
CAPITAL PROJECT
FY 2004/2005
FM1938 114 to 7709
Project Description:
The engineering, design and construction document package with TXDOT review and approval for FM1938 between SH114 in Westlake and FM1709 in
Southlake/Keller. Implementation costs for Texas U -Turns at SH1141FM1938 interchange are also included. Westlake portion of costs relative to Southlake
and Keller is 57.11% for FM1938
NET 0 1 01 0 1 0 0 0 0
IMPACT ON OPERATING BUDGET
PROJECT EXPENSE
LTD
BUDGET
LTD
09/30/04
BUDGET
04/05
PROJECT
Planned
08109
PROJECT
TOTAL
05106 06/07 07/08 08109
Design 1,313,809
Construction
Engineering
1,142,298
0
0
320,000 0-
0 0
0 0
0
0
0
0 0_
0 0
0 0
1,462,298
0
0
PROJECT EXPENSE TOTAL
1 1,142,298
320,000 0
0
0 0
1 1,462,298 11
NET 0 1 01 0 1 0 0 0 0
IMPACT ON OPERATING BUDGET
PROJECT FUNDING
LTD
BUDGET
LTD
BUDGET
PROJECT
Planned
08109
PROJECT
05/06
06/07 07/08
08/09
Administrative Expenses
09/30/04
04/05
TOTAL
Prior Year Remaining Fund
0
0
0
0
0 0
0 0
4A grant 03/04
82,174
0
0
0
0 0
82,174
4A grant 03/04
36,857
0
0
0
0 0
36,857
4A grant 04/05
0
56,666
0
0
0 0
56,666
Private - Fidelity 00/01
228,700
0
0
0
0 0
228,700
Private - General Growth 00/01
47,022
0
0
0
0 0
47,022
Private - Keller 00/01
49,513
0
0
0
0 0
49,513
Private - Keller 02/03
3,333
0
0
0
0 0
3,333
Private - Keller 03/04
36,857
0
0
0
0 0
36,857
Private - Keller 04/05
0
56,667
0
0
0 0
56,667
Private - Oakmont 00/01
174,676
0
0
0
0 0
174,676
Private - Rowland Arthur 03/04
101,739
0
0
0
0 0
101,739
Private - Sabre 00/01
44,030
0
0
0
0 0
44,030
Private - Southlake 00/01
113,434
0
0
0
0 0
113,434
Private - Southlake 03/04
36,857
0
0
0
0 0
36,857
Private - Southlake 04/05
0
56,667
0
0
0 0
56,667
Private - Tarrant County 04/05
0
150,000
0
0
0 0
150,000
]Private -WB Texas 00/01
187,106
0
0
0
0 0
187,106
PROJECT FUNDING TOTAL
1,142,298
320,000
0 1
0 1
0 10
1,462,298
NET 0 1 01 0 1 0 0 0 0
9/21/2004
3:57 PM
IMPACT ON OPERATING BUDGET
LTD
BUDGET
Planned
PROJECT
05106 06/07 07/08
08109
09/30104
04/05
TOTAL
Administrative Expenses
4,000 0 0 0
0 0
4,000
Personnel Expenses
0 0 0 0
0 0
0
Supplies
0 0 0 0
0 0
0
Maintenance
0 0 0 0
0 0
0
Services
0 0 0 0
0 0
0
Equipment
0 0 0 0
0 0
0
Transfer
0 0 0 0
0 0
0
Debt
0 0 0 0
0 0
0
OPERATING IMPACT TOTAL
4,000 1 01 0 1 0 1
0 1 0 1
4,000
9/21/2004
3:57 PM
CAPITAL PROJECT
FY 2004/2005
SH 114 Commercial Growth
Project Description:
The development of a major commercial and retail corridor on the northern part of the Circle T Ranch.
NET 1 0 1 0 1 0 1 0 1 0 1 0 1 0 1 0
IMPACT ON OPERATING BUDGET
PROJECT
EXPENSE
TOTAL
BUDGET
LTD
09/30/04
BUDGET
04/05
Planned
TOTAL
BUDGET
TOTAL
BUDGET
LTD
09/30/04
BUDGET
04/05
I
Planned
OPERATING IMPACT TOTAL
0 01 0 0
PROJECT
TOTAL
05/06 06/07 07/08 08/09
Admin Expense/Personnel
Town Attorney
Civil Engineer
Auditor
Third Party Inspection Fees
140,000
95,500
183,315
5,271
713,820
70,000
28,000
133,315
2,571
15,000
70,000
67,500
50,000
2,700
698,820
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
140,000
95,500
183,315
5,271
713,820
PROJECT EXPENSE TOTAL
1,137,906
248,886
889,020
0
0
0
0
1,137,906
NET 1 0 1 0 1 0 1 0 1 0 1 0 1 0 1 0
IMPACT ON OPERATING BUDGET
PROJECT FUNDING
TOTAL
BUDGET
LTD
09/30/04
BUDGET
04/05
Planned
TOTAL
BUDGET
LTD
09/30/04
BUDGET
04/05
Administrative Expenses
Personnel Expenses
0 0 0 0
0 0 0 0
Planned
OPERATING IMPACT TOTAL
0 01 0 0
PROJECT
TOTAL
05/06 06/07 07/08 08/09
Prior Year Remaining Fund
4A Grant 2003
4A Grant 2004
4A Grant 2005
112,701
136,165
889,020
119,111
129,775
0
0
0
889,020
0
0
0
0
0
0
0
0
0
0
0
0
119,111
129,775
889,020
PROJECT FUNDING TOTAL
1,137,906
248,886
889,020
0
0 1
0 1
0
1 11137,906
NET 1 0 1 0 1 0 1 0 1 0 1 0 1 0 1 0
9/21/2004
1:02 PM
IMPACT ON OPERATING BUDGET
TOTAL
BUDGET
LTD
09/30/04
BUDGET
04/05
Planned
PROJECT
TOTAL
05/06 06/07
07/08 08/09
Administrative Expenses
Personnel Expenses
0 0 0 0
0 0 0 0
0 0 0 0
0 0 0 0
OPERATING IMPACT TOTAL
0 01 0 0
0 1 0 0 0
9/21/2004
1:02 PM
4A CORPORATION FUND
Fidelity Tax Reimbursement
Payment
Annual
Date
Payment
9/30/2003
$ 107,274.72
9/30/2004
9/30/2005
35,758.24
9/30/2006
35,758.24
9/30/2007
35,758.24
9/30/2008
35,758.24
9/30/2009
35,758.24
9/30/2010
35, 758.24
9/30/2011
35,758.24
9/30/2012
35,758.24
9/30/2013
35,758.24
9/30/2014
35,758.24
9/30/2015
35,758.24
9/30/2016
35,758.24
Total $ 536,373.60
* * FY 02/03 Payment included FY 01/02, FY 02/03, and FY 03/04
Paue 54