Min - Community Development Corporation - 2005 - 06/20 - RegularI
MINUTES
ALLEN COMMUNITY DEVELOPMENT CORPORATION BOARD
REGULAR MEETING
JUNE 20, 2005
BOARD MEMBERS:
Lee Howard, President (absent)
Sue Johnson, Vice -President
Richard Kessler, Secretary
Debbie Stout
George Chnsman
Lonnie Simmons
Lon Stitt
CITY STAFF:
Peter H. Vargas, City Manager
Tim Dentler, Director of Parks and Recreation Department
Kevin Hammeke, Director of Finance Department
Sally Rojas, Senior Administrative Assistant
1. CALL TO ORDER
Board Member Johnson called the meeting to order at 7:00 p.m.
2. APPROVAL OF MINUTES FROM THE MAY 16, 2005, MEETING
MOTION: Upon a motion by Board Member Chrisman and a second by Board Member
Simmons, the Board voted six (6) for and none (0) opposed to approve the
minutes from the May 16, 2005, meeting. The motion carried.
3. CITIZENS' COMMENTS
None
4. PRESENTATIONS BY MONTGOMERY FARMS GARDEN DISTRICT PARTNERSHIP ON
REQUEST FOR FINANCIAL ASSISTANCE FROM THE AEDC
The Garden District at Montgomery Farms presented their development plan and program to
construct a "Village Open Space Corridor which will include a water feature, pavilions, and park
trails located in dedicated easements. The request for financial support will fund the construction of a
Allen Community Development Corporation Board
June 20, 2005, Regular Meeting
Page 2
water course that includes both an upper and lower pond. The Garden District at Montgomery Farms
is proposing a public/pnvate partnership that will incorporate a "performance-based" model. The
Garden District is prepared to make the initial investment on the project and is asking 50% of sales
tax revenues from this development for a 10 -year period. The Board was supportive of the concept
and requested that once all parties agree that an agreement be drafted and placed on the agenda for
Board action.
5. ALLOCATIONS FOR FISCAL YEAR 2005-2006
The Board was asked to approve the following projects for the 2005-2006 Fiscal Year:
Rank
Proposed Project
Estimated Cost
1
Recirculation System Sprayground
$ 80,000
2
Heritage Village Site hnprovements
$137,500
3
Allen USA Celebration
$ 60,000
4
Park Land Acquisition
$200,000
5
Batting Cages and Warmup Area
$ 75,000
6
Irrigation System/Lighting Phase B
$ 89,000
7
Public Open Space Improvements at Chase Oaks
$200,000
8
Trail Development
$275,000
9
St. Mary Bridge (Cottonwood Creek)
$740,000
10
Tennis Courts @ Celebration Park
$200,000
11
Country Meadows Improvements
$ 90,000
12
Disc Golf Course Development
$ 10,000
13
Entry Feature/ Service Club Sign — Ridgemont
$100,000
14
Senior Center Fitness Equipment
$ 40,000
GRAND TOTAL
$2,296,500
MOTION: Upon a motion by Board Member Chrisman and a second by Board Member
Simmons, the Board voted six (6) for and none (0) opposed to approve the proposed
projects for the 2005-2006 fiscal year. The motion carred.
6. OTHER BUSINESS
A. Revenue Report
• Revenues from April 2005 were up by approximately 3% from the projected budget.
• Year-to-date revenues are below projections by about 4%.
B. Balance Sheet
The Board reviewed the Balance Sheet and noted that we are retaining our current trend of
maintaining $4,000,000 plus in the bank.
Allen Connnunuty Development Corporation Board
June 20, 2005, Regular Meeting
Page 3
C. Current Project Status Report
There were no questions on the Project Status Report.
D. Items of Interest to the Board
Y Pictures of the Grand Opening of `The Edge' at Allen Station Park
➢ Community Calendar
Y Next Regular Meeting— July 18, 2005, at 7:00 p.m.
7. ADJOURN
MOTION: Upon a motion by Board Member Christian and a second by Board Member Stout, the
Board voted six (6) for and none (0) opposed to adjourn the meeting at 8:27 p.m The
motion carred.
These minutes approved on the 18th day of July, 2005.
J
Lee Down , PRESIDENT Richard Kessler, SECRETARY
C