[00:00:04]
[I. CALL TO ORDER]
EVERYONE, AND WELCOME TO THE REGULAR MEETING OF THE BENBROOK ECONOMIC DEVELOPMENT CORPORATION BOARD OF DIRECTORS.IT'S SEPTEMBER 16TH, 2024 AND I CALL THE MEETING TO ORDER AT 7:00 PM
[II. CITIZEN’S PUBLIC FORUM]
FIRST ORDER OF BUSINESS WILL BE CITIZENS PUBLIC FORM.IF THERE ARE ANY CITIZENS WISHING TO MAKE A STATEMENT HERE IS YOUR OPPORTUNITY.
IT APPEARS WE DO NOT HAVE ANYBODY WISHING TO SPEAK THIS EVENING.
[III. ACTION ITEMS]
MOVE ON TO OUR NEXT AGENDA ITEM, WHICH WILL BE ACTION ITEMS. OUR ACTION ITEM, FIRST ACTION ITEM IS TO APPROVE THE UH, MINUTES, UM, AS PRESENTED FROM THE AUGUST 19TH, 2024 REGULAR EDC BOARD MEETING.THE BOARD HAS HAD AN OPPORTUNITY TO, UM, REVIEW THOSE MINUTES AND IF THERE ARE NOT ANY QUESTIONS AT THIS TIME, I WILL UM, ASK FOR A MOTION TO APPROVE THOSE MINUTES.
MS. HAWKINS, I MOVE APPROVAL OF THE AUGUST 19TH, 2024 REGULAR BOARD MEETING MINUTES AS PRESENTED.
IS THERE A SECOND? CASEY? I'LL SECOND THE MOTION.
WE HAVE A MOTION AND A SECOND.
PROCEED WITH THE VOTE PLEASE AND THE MINUTES ARE APPROVED.
[IV. DIRECTOR’S REPORT]
AND THAT WILL BE THE DIRECTOR'S REPORT.SO AT THIS TIME, I WILL PASS THAT OVER TO, UM, OUR DIRECTOR, UM, MS. JAMES TO PROVIDE THAT REPORT.
FOR THE MONTH OF AUGUST, THE BOARD DID RECEIVE $195,711 AND 38 CENTS IN YOUR SALES TAX REVENUE.
THIS BRINGS YOUR TOTAL YEAR TO DATE COLLECTIONS TO $1,484,345 AND 49 CENTS.
YOUR LIQUID ASSETS FOR THE MONTH INCLUDE YOUR CHECKING ACCOUNT BALANCE OF $2,181,767 AND 49 CENTS.
YOUR TAX POOL ACCOUNT WAS $4,031,467 AND 65 CENTS.
THIS BRINGS YOUR TOTAL LIQUID ASSETS TO $6,213,235 AND 14 CENTS.
THAT DOES ALSO INCLUDE YOUR INTEREST PAYMENT ON BOTH ACCOUNTS.
SO YOUR TOTAL REVENUE THAT THE BOARD RECEIVED FOR AUGUST OF 2024 INCLUDED YOUR SALES TAX REVENUE AS WELL AS YOUR INTEREST EARNED OF $25,063 AND 38 CENTS.
IT ALSO INCLUDED YOUR FRANCHISE PAYMENT OF $875 AND 60 CENTS.
THIS BRINGS YOUR TOTAL COLLECTIONS, UH, FOR REVENUE FOR THE MONTH OF AUGUST TO $221,650 AND 36 CENTS.
THE EXPENDITURES FOR THE MONTH OF AUGUST INCLUDED YOUR TOTAL OPERATING EXPENSES OF $36,870 AND 44 CENTS.
IF YOU LOOK AT YOUR TOTAL PENDING PROJECT BALANCE IN ADDITION TO YOUR OPERATING EXPENSES, THE TOTAL ENCUMBERED FUNDS FOR THE MONTH OF AUGUST IS $3,256,515 AND 31 CENTS.
SO THIS BRINGS YOUR TOTAL FUND BALANCE AS OF AUGUST 31ST.
IT INCLUDES YOUR LIQUID ASSETS AS WELL AS YOUR ENCUMBERED FUNDS.
SO YOUR FUND BALANCE IS $2,956,719 AND 83 CENTS.
AND WITH THAT, I'LL BE HAPPY TO ANSWER ANY QUESTIONS THAT THE BOARD MIGHT HAVE IN REGARDS TO THE FINANCIALS.
ARE THERE ANY BOARD MEMBERS THAT HAVE A QUESTION TONIGHT WITH NO QUESTIONS? MOVE
[V. EXECUTIVE SESSION]
ON TO THE NEXT AGENDA ITEM, WHICH WILLIAM EXECUTIVE SESSION.AND AT THIS TIME, I, KENT WILLIAMS DECLARED THE BENBROOK ECONOMIC DEVELOPMENT CORPORATION WILL NOW HOLD A CLOSED EXECUTIVE SESSION PUR TO THE PROVISIONS OF THE OPEN UNION LAW, CHAPTER 5 5 1 TEXAS GOVERNMENT CODE IN ACCORDANCE WITH THE AUTHORITY CONTAINED IN SECTION 5 5 1 0.072 CONCERNING DELIBERATIONS REGARDING REAL PROPERTY AND SECTION 5 5 1 0.087 DELIBERATIONS REGARDING ECONOMIC DEVELOPMENT NEGOTIATIONS.
AT THIS TIME, THE EXECUTIVE SE OR EXECUTIVE SESSIONS ARE NOT OPEN TO THE PUBLIC AND PERSONS REVEALING EXECUTIVE SESSION INFORMATION THAT ARE SUBJECT TO PENALTIES UNDER TEXAS LAW AT THIS TIME, WE'LL MOVE TO THE CONFERENCE ROOM FOLLOWING THE EXECUTIVE SESSION, THE COUNCIL CHAMBERS TO FINISH THE REST OF TONIGHT'S MEETING.
EVERYBODY'S IN THEIR PLACE AT THIS
[VI. RECONVENE INTO OPEN SESSION]
TIME.UM, THE BROOK ECONOMIC DEVELOPMENT CORPORATION REGULAR BOARD MEETING IS RECONVENING AT 7:42 PM AT
[VII. TAKE ANY NECESSARY OR APPROPRIATE ACTION AS A RESULT OF CLOSED EXECUTIVE SESSION]
[00:05:01]
THIS TIME, I WILL ACCEPT A MOTION REGARDING THE BENBROOK ECONOMIC DEVELOPMENT CORPORATION'S PROPERTY LOCATED AT 93 53 BENBROOK BOULEVARD BOARD, DR.ACKELL, MR. PRESIDENT, I MOVE THAT THE BENBROOK ECONOMIC DEVELOPMENT CORPORATION APPROVES THE DEED RESTRICTIONS AS SHOWN ON OUR SCREENS WITH THE ADDITION OF VEHICLE SERVICE CENTERS AND CAR WASHES FOR THE PROPERTY LOCATED AT 93 53 BENBROOK BOULEVARD AND AUTHORIZE THE PRESIDENT TO SIGN ANY NECESSARY DOCUMENTS IN ORDER FOR THE RESTRICTIONS TO BE FILED WITH TARRANT COUNTY.
IS THERE A SECOND, MR. LINDSEY? I SECOND THE MOTION.
AT THIS TIME, WE'LL PROCEED WITH THE VOTE TO APPROVE THE DEED RESTRICTIONS FOR THE BENBROOK ECONOMIC DEVELOPMENT CORPORATION PROPERTY LOCATED AT 93 53 BENBROOK BOULEVARD AS PRESENTED AND AUTHORIZED MYSELF TO SIGN ANY NECESSARY DOCUMENTS.
PROCEED WITH THE VOTE AND THE MOTION PASSES.
THAT WAS THE LAST AGENDA ITEM TONIGHT.
[VIII. ADJOURNMENT]
ADJOURN THE BENBROOK ECONOMIC DEVELOPMENT CORPORATION'S REGULAR BOARD MEETING AT 7:44 PM THANK YOU AND HAVE A GOOD MONTH.