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10-11-04 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