[00:00:02]
WELL GOOD EVENING EVERYONE AND WELCOME TO THE REGULAR MEETING OF
[I. CALL TO ORDER]
THE BENBROOK ECONOMIC DEVELOPMENT CORPORATION.IT'S MONDAY, NOVEMBER 17TH, 2025 AND I CALL A MEETING TO ORDER AT 7:00 PM OUR FIRST ORDER
[II. CITIZEN’S PUBLIC FORUM]
OF BUSINESS TONIGHT WILL SEE BE THE CITIZENS PUBLIC FORUM AND FOR CITIZENS WISHING TO COMMENT ON ANY AGENDA ITEM.LOOKS LIKE WE HAVE NO ONE THAT WOULD LIKE TO SPEAK TONIGHT, SO WE'LL MOVE ON
[III. ACTION ITEMS]
TO OUR NEXT, UM, AGENDA ITEM AND IT WILL BE TO APPROVE THE OCTOBER 20TH, 2025 REGULAR BOARD MEETING MINUTES.THE BOARD HAS HAD AN OPPORTUNITY TO REVIEW THOSE MINUTES UNLESS THERE ARE ANY OTHER ADDITIONAL CHANGES AT THIS TIME.
I'LL BE LOOKING FOR A MOTION TO APPROVE THOSE MINUTES.
MR. LINDSEY, I MAKE A MOTION TO APPROVE THE REGULAR BOARD ME MEETING MINUTES FOR OCTOBER 20TH, 2025.
IS THERE A SECOND MR. CASEY? I SECOND THE MOTION.
WE HAVE A MOTION AND A SECOND AND TONIGHT WE'LL BE PROCEEDING WITH A VOICE VOTE.
UH, THE MOTION PASSES AND THE MINUTES ARE APPROVED.
OUR NEXT UH, AGENDA ITEM TONIGHT WILL BE TO APPROVE THE, OR APPROVE AMENDING THE FIFTH Y 25 26 BENBROOK ECONOMIC DEVELOPMENT CORPORATION BUDGET IN ORDER TO CARRY OVER PER PREVIOUSLY APPROVED PROJECT FUNDING FOR FY 24 25 TOTALING $1,579,396.
SO AT THIS TIME, UM, I'LL ASK OUR DIRECTOR MS. JAMES TO PROCEED WITH BRIEF US ON THIS ITEM.
THIS IS SIMPLY A CARRYOVER OF ALREADY APPROVED FUNDING FOR THE TWO RESTAURANTS FROM LAST FISCAL YEAR, UH, TO THE CURRENT FISCAL YEAR SINCE BOTH PROJECTS ARE STILL UNDER CONSTRUCTION.
UM, THEREFORE THE STAFF RECOMMENDS THAT THE BECD BOARD APPROVES AMENDING THE FYI 25 26 BUDGET IN ORDER TO CARRY OVER THIS PREVIOUSLY APPROVED PROJECT FUNDING FROM FYI 24 25 TOTALING $1,579,396.
THIS HAS MET ALL OF THE, UM, PUBLIC POSTINGS THAT WE HAD TO DO FOR THE PUBLIC HEARING AND AS, UM, STATED ALREADY APPROVED PREVIOUSLY BY THE BOARD AND CITY COUNCIL.
ARE THERE ANY QUESTIONS FROM BOARD MEMBERS FOR MS. JAMES? IF THERE ARE NO QUESTIONS, I'LL BE LOOKING FOR A MOTION TO AMEND THE UM, FY 25 26 MEMBER ECONOMIC DEVELOPMENT CORPORATION BUDGET.
ACKELL, MR. PRESIDENT, I MOVE THAT WE APPROVE AMENDING THE FISCAL YEAR 25 26 BENBROOK ECONOMIC DEVELOPMENT CORPORATION BUDGET IN ORDER TO CARRY OVER THE PREVIOUSLY APPROVED PROJECT FUNDING FROM FISCAL YEAR 24 25 TOTALING $1,579,396.
IS THERE A SECOND? MS. MELTON? I SECOND THE MOTION.
AND WE'LL PROCEED WITH THE VOICE VOTE PLACE ONE.
AND THE MOTION PASSES AND THE BUDGET? THE BUDGET.
THE BUDGET IS, UM, AMENDED AS A IS WRITTEN.
OUR NEXT ORDER OF BUSINESS TONIGHT WILL
[IV. DIRECTOR’S REPORT]
BE THE DIRECTOR'S REPORT.[00:05:01]
UH, MS. JAMES FOR OUR FINANCIAL REPORT.THE BOARD DID RECEIVE FOR THE MONTH OF OCTOBER $173,136 AND 14 CENTS, WHICH IS YOUR PORTION FOR YOUR HALF CENTS SALES TAX REVENUE.
THIS BRINGS YOUR TOTAL COLLECTION CALENDAR YEAR TO $1,975,778 AND 43 CENTS.
YOUR LIQUID ASSETS ENDING IN 10 31, UH, EQUALS YOUR CHECKING ACCOUNT BALANCE OF $3,477,713 AND 59 CENTS.
IN ADDITION, YOU DID HAVE YOUR TEXT POOL ACCOUNT BALANCE OF $4,246,370 AND 46 CENTS, INCLUDING THE INTEREST, UH, PAYMENT AMOUNT OF $20,109 AND 10 CENTS.
THIS BRINGS YOUR TOTAL LIQUID ASSETS FOR THE MONTH OF, OF OCTOBER TO 7,724,000, $21 AND 5 CENTS.
IN TERMS OF THE REVENUE THAT THE BOARD COLLECTED FOR THE MONTH, WE DID DISCUSS YOUR SALES TAX AS WELL AS YOUR INTEREST EARN, AND IN ADDITION, YOU DID HAVE YOUR FRANCHISE PAYMENT OF 1 MILLION OF, I'M SORRY, $1,269 AND 76 CENTS.
THIS BRINGS YOUR TOTAL REVENUE FOR THE MONTH TO $194,515.
YOUR EXPENDITURES FOR THE MONTH OF OCTOBER, YOU HAD A TOTAL OPERATING EXPENSES OF $38,357 AND 44 CENTS.
IF YOU LOOK AT YOUR PENDING PROJECT BALANCE OF $473,000, INCLUDING YOUR OPERATING EXPENSES, THIS BRINGS YOUR TOTAL ENCUMBERED FUNDS FOR THE MONTH TO $511,357 AND 44 CENTS.
THIS BRINGS YOUR FUND BALANCE FOR THE BOARD FOR THE MONTH OF OCTOBER TO $7,212,663 AND 61 CENTS.
THAT DOES INCLUDE YOUR LIQUID ASSETS AS WELL AS YOUR ENCUMBERED FUNDS.
WITH THAT, I'LL BE HAPPY TO ANSWER THE BO ANY QUESTIONS THAT THE BOARD MIGHT HAVE.
DOES ANYONE ON THE BOARD HAVE A QUESTION FOR MS. JAMES WITH NO QUESTIONS? WE MOVE ON TO OUR NEXT ITEM.
[V. EXECUTIVE SESSION]
SESSION AND AT THIS TIME, I, KENT WILLIAMS DECLARE THAT THE BENBROOK ECONOMIC DEVELOPMENT CORPORATION WILL NOW HOLD A CLOSED EXECUTIVE SESSION PERSON TO THE PROVISIONS OF THE OPEN MEDIA LAW.CHAPTER 5 5 1 TEXAS GOVERNMENT CODE IN ACCORDANCE WITH THE AUTHORITY CONTAINED IN SECTION 5 5 1 0.072 DELIBERATING DELIBERATIONS REGARDING REAL PROPERTY EXECUTIVE SESSIONS ARE NOT OPEN TO THE PUBLIC AND PERSONS REVEALING EXECUTIVE SESSION INFORMATION OR, OR SUBJECT TO PENALTIES UNDER TEXAS LAW.
THIS TIME WE WILL MOVE TO THE CONFERENCE ROOM.
FOLLOWING THE EXECUTIVE SESSION, WE RETURN TO THE COUNCIL CHAMBERS TO FINISH TONIGHT'S MEETING.
[VI. RECONVENE INTO OPEN SESSION]
PM GOOD[VIII. ADJOURNMENT]
NIGHT EVERYONE.