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HomeMy WebLinkAboutRES 4B 2021-001 GRAPEVINE 4B ECONOMIC DEVELOPMENT CORPORATION RESOLUTION NO. 4B 2021-001 A RESOLUTION OF THE GRAPEVINE 4B ECONOMIC DEVELOPMENT CORPORATION OF THE CITY OF GRAPEVINE, TEXAS, ADOPTING AND PROPOSING A BUDGET FOR THE FISCAL YEAR BEGINNING OCTOBER 1, 2021 AND ENDING SEPTEMBER 30, 2022; PROVIDING FOR INVESTMENT OF CERTAIN FUNDS AND PROVIDING AN EFFECTIVE DATE WHEREAS, the provisions of Article 5190.6, Texas Revised Civil Statutes, the Industrial Development Act of 1979, Section 4B, and the Corporation Bylaws adopted by the Grapevine 4B Economic Development Corporation Board of Directors requires the 4B Corporation to prepare a budget proposal; and WHEREAS, the Grapevine 4B Economic Development Corporation has adopted the same fiscal year as the City of Grapevine; and WHEREAS, all legal prerequisites for the adoption of this resolution have been met, including but not limited to the Local Government Code and the Open Meetings Act; and WHEREAS, the Grapevine 4B Board hereby declares that the approval of this resolution is in the best interests of the health, safety, and welfare of the public. NOW, THEREFORE, BE IT RESOLVED BY THE GRAPEVINE 4B ECONOMIC DEVELOPMENT CORPORATION OF THE CITY OF GRAPEVINE, TEXAS: Section 1. That a budget proposal has been prepared by the Grapevine 4B Economic Development Corporation Board, a copy of which is attached hereto as Exhibit Section 2. That the Grapevine 4B Economic Development Corporation Board adopts the proposed operating budget for fiscal year ending September 30, 2022. Section 3. That the City Manager is hereby authorized to make appropriate expenditures, transfers and other financial transactions during the fiscal year pursuant to the Corporation bylaws. Section 4. That the City Manager, and/or Assistant City Manager and/or Chief Financial Officer and/or designated investment officer are authorized to invest any funds not needed for current use in Official City Depositories, in any investment instrument authorized by the City's Investment Policy and Investment Strategy and allowed by the Texas Public Funds Investment Act. FY 2021-22 PROPOSED OPERATING BUDGET STATEMENT OF REVENUE,EXPENDITURES AND CHANGES IN FUND BALANCE 4B TRANSIT FUND 2018-19 2019-20 2020-21 2020-21 2(12I- Actual Actual Budget Estimate 1't'posed; BEGINNING FUND BALANCE: 8,784 16,959 22,916 22,916 ..- ..— ? 2n896': OPERATING REVENUE: Sales Tax 10,476,439 8,978,634 9,218,161 9,199,725 *934;°3 Interest Income 8,176 5,957 10,000 9,980 ..............>,. q40; Total Operating Revenue 10,484,615 8,984,591 9,228,161 9,209,705 14,94%343 TRANSFERS IN: TOTAL REVENUE AND TRANSFERS 10,484,615 8,984,591 9,228,161 9,209,705 ,... 0,9 ;3 ,' OPERATING EXPENDITURES: Contractual Services-Trinity Metro 10,046,960 8,642,110 8,754,020 8,736,512 1.4,454;01`.L Total Operating Expenditures 10,046,960 8,642,110 8,754,020 8,736,512 ...._ 0,4501:1; TRANSFERS OUT: Transfer to Visitor Shuttle Fund 429,479 336,524 464,141 463,213 47031. Total Transfers Out 429,479 336,524 464,141 463,213 '4'l6z32' TOTAL EXPENDITURES AND TRANSFERS 10,476,439 8,978,634 9,218,161 9,199,725 -...`1;d9303,43` SURPLUS/(DEFICIT) 8,176 5,957 10,000 9,980 1%04.0'' ENDING FUND BALANCE: 16,959 22,916 32,916 32,896 42$4¢.I Section 2 76 4B TRANSIT FUND(120) ,""""""""- REVENUE DETAIL Change Change from from 2018-19 2019-20 2020-21 2020-21 201.422 FY20 FY21 Actual Actual Budget Estimate 1 .kroposett 1 Actual Budget SALES TAX 10,476,439 8,978,634 9,218,161 9,199,725 10.0*343'.' 22% 19% INTEREST INCOME 8,176 5,957 10,000 9,980 -.18,001/,! 68% 0% TOTAV41.1%.,'TRANSIT .**;460. •OP.P.049): 940,161 9,299,705 100:400! • Section 2 77 FY 2021-22 PROPOSED OPERATING BUDGET 4B ECONOMIC DEVELOPMENT FUNDS DEPARTMENTAL SUMMARY 2018-19 2019-20 2020-21 2020-21 2021-22 EXPENDITURES BY DIVISION Actual Actual Budget Estimate Proposed 4B Transit(Trinity Metro) 10,476,439 8,978,634 9,218,161 9,199,725 10,930,343 Total 10,476,439 8,978,634 9,218,161 9,199,725 10,930,343 Section 2 78 FY 2021-22 PROPOSED OPERATING BUDGET 4B ECONOMIC DEVELOPMENT FUNDS 4B TRANSIT SUMMARY FUND 120 I 2018-19 2019-20 2020-21 2020-21 2021-22 EXPENDITURES BY OBJECT Actual Actual Budget Estimate Proposed Services 10,046,960 8,642,110 8,754,020 8,736,512 10,454,011 Transfers 429,479 336,524 464,141 463,213 476,332 Total 10,476,439 8,978,634 9,218,161 9,199,725 10,930,343 OBJECTIVES - Provide funding for the development of commuter rail service. Voters approved a 3/8-cent sales tax increase that commenced on April 1, 2007. - Accumulate funding for the land acquisition,design,construction and operation of a passenger rail station. Provide funding for 50%of the operations of the Grapevine Visitor Shuttle system. 2018-19 2019-20 2020-21 2020-21 2021-22 PERFORMANCE INDICATORS Actual Actual Budget Estimate Proposed Contractual payments to Trinity Metro $9,077,750 $9,466,562 $10,389,140 $10,168,779 $10,666,850 Transfers to Grapevine Visitor Shuttle system $429,479 $336,524 $4b4,141 $463,213 ' $476,332 , I Section 2 79 ECONOMIC DEVELOPMENT-120 EXPENDITURE DETAIL i Change Change , 1 from from , g 2018-19 2019-20 2020-21 2020-21 1 i2021;22 i FY20 FY21 4-B Transit 44688 Intergovt.Expenditures Actual Actual Budget Estimate 1 ftfipsetl i Actual Budget , ! 10,046,960 8,642,110 8,754,020 8,736,512 1 10,44-54;01 i 21% 19% Services Subtotal 10,046,960 8,642,110 8,754,020 8,736,512 1 1.0,450n.i 21% 19% 54216 Transfers To Visitor Shuttle 429,479 336,524 464,141 463,213 i :476432:1 42% 3% Transfers 429,479 336,524 464,141 463,213 : 41032E1 42% 3% Total 4-B Transit 10,476,439 8,978,634 9,218,161 9,199,725 1 l69s,043 I 22% 19% I . . I Section 2 80 • FY 2921-22 PROPOSED OPERATING BUDGET STATEMENT.OF REVENUE,EXPENDITURES AND CHANGES IN FUND BALANCE ECONOMIC DEVELOPMENT FUND(122,124) 2018-19 2019-20 2020-21 2020-2101; Actual Actual Budget Estimate `rQpos0 BEGINNING FUND BALANCE: 6,098,006 6,671,014 7,055,268 7,055,268 . .....'7 073 31)9;; OPERATING REVENUE: Sales Tax 4,393,875 3,872,769 3,653,721 3,646,414 ;344I448 Interest Income 144,127 104,318 110,000 90,000 4400 Miscellaneous 4,232,422 1,409,926 - - Total Operating Revenue 8,770,424 5,387,013 3,763,721 3,736,414 _4,76344& ....... ........ ...... TOTAL REVENUE AND TRANSFERS 8,770,424 5,387,013 3,763,721 3,736,414 _. _. %753t448`. OPERATING EXPENDITURES: Personnel Services 512,099 523,166 533,637 532,570 4.10000; Supplies 9,233 . 26,376 5,600 5,589 $6i10 ' Maintenance 6,712 16,132 - - Services 707,637 2,672,875 1,481,620 1,478,657 •1a56,016` Insurance 66,293 56,816 51,141 51,039 8J,*27' Debt Service - - - - ,. Total Operating Expenditures 1,301,974 3,295,365 2,071,998 2,067,854 2473045. TRANSFERS OUT: Transfer to General Fund-Admin Fee 339,626 306,000 291,204 250,000 284;.;50 : Transfer to Debt Service Fund 1,396,444 1,401,394 1,400,519 1,400,519 ._ . i=;3;Q8f894. TRANSFERS OUT 1,736,070 1,707,394 1,691,723 1,650,519 "'` .- 680 4Q3; TOTAL EXPENDITURES AND TRANSFERS 3,038,044 5,002,759 3,763,721 3,718,373 ;3$ 44*'. SURPLUS/(DEFICIT) 5,732,380 384,254 - 18,041 ENDING FUND BALANCE AVAILABLE: 6,671,014 7,055,268 7,055,268 7,073,309 :7;(i7 399= I Section 2 81 ECONOMIC DEVELOPMENT FUNDS(122,124) REVENUE DETAIIL Change Change from from 2018-19 2019-20 2020-21 2020-21 /O t . ' FY20 FY21 Actual Actual Budget Estimate :.R%Opt�sed' Actual Budget 31204 Sales Tax 4,393,875 3,872,769 3,653,721 3,646,414 _3 3 44 -6% 0% SALES TAX 4,393,875 3,872,769 3,653,721 3,646,414 :3643,448:1 -6% 0% 39230 Interest Income 144,127 104,318 110,000 90,000 i 1.1tl;000:1 5% 0% INTEREST INCOME 144,127 104,318 110,000 90,000 i '' .10,a000` 5% 0% i i 37100 Garage Fees 23,860 - - - i 1 37100 Garage Revenue - 60 - - - 1 -100% 37200 Utility Revenue - 83,650 - - . 3 -100% 39950 Sale Of Capital Assets 4,208,462 1,326,216 - - -100% 39999 Miscellaneous Revenues 23,960 83,710 - - - 1 -100% MISCELLANEOUS 4,232,422 1,409,926 - - i -100% 4 TQTir;i6. ,OMICbEV s 8s7.7,41p4Z.4 5,387aO13 3747.z1 443,44 3175344 =30% 0%ai I II Section 2 82 _ FY 2021-22 PROPOSED OPERATING BUDGET 4B ECONOMIC DEVELOPMENT FUNDS DEPARTMENTAL SUMMARY 2018-19 2019-20 2020-21 2020-21 2021-22 EXPENDITURES BY DIVISION Actual Actual Budget Estimate Proposed 4B Capital Improvements and 4B Economic Development 3,038,044 5,002,759 3,763,721 3,718,373 3,753,448 Total 3,038,044 5,002,759 3,763,721 3,718,373 3,753,448 POSITION SUMMARY BY DEPARTMENT PERSONNEL-FULL TIME EQUIVALENTS(FTE) 2018-19 2019-20 2020-21 2020-21 2021-22 ECONOMIC DEVELOPMENT Actual Actual Budget Estimate Proposed Director of Economic Development 1.0 1.0 1.0 1.0 1.0 Marketing Research Manager - - - 1.0 1.0 Development Manager 2.0 2.0 2.0 1.0 1.0 Administrative Secretary 0.5 0.5 0.5 0.5 0.5 ..��++//'��f��'" ,�i"�f���/'��y�S�}+. �'_+a^(�,�y !�( ((�'.� ����" !.. J.. A�,,, ,.ftz;... ., y�6rp..,-FM„ .�,.�,yxyl/ F1•-�I ?� ,tkirV 'i�•;W)Jl./�3i�00$:'Fl`I•© 17;". 1.�' ��A �r r.�" •.I 1 it / IE€`.( 'SJr I "��,1 •w, _�....,.:��.......,._..�_�........,.4�.�.�...�.�r�:f,-�s���i(��.�.���-��� (i�Qf������..sra��(�ii�l����..�.��r�u�i�i�����..,r�Es��l���f���.... ,r.a����l��_��-.:._,_.,f� Section 2 83 f. FY 2021-22 PROPOSED OPERATING BUDGET 4B CAPITAL IMPROVEMENTS AND 4B ECONOMIC DEVELOPMENT SUMMARY FUNDS 122 AND 124 I 2018-19 2019-20 2020-21 2020-21 2021-22 EXPENDITURES BY OBJECT Actual Actual Budget Estimate Proposed Personnel Services 512,099 523,166 533,637 532,570 416,902 Supplies 9,233 26,376 5,600 5,589 5,600 Maintenance 6,712 16,132 - - - Services 707,637 2,672,875 1,481,620- 1,478,657 1,568,716 Insurance 66,293 56,816 51,141 51,039 81,827 Transfers 1,736,070 1,707,394 1,691,723 1,650,519 1,680,403 Total 3,038,044 5,002,759 3,763,721 3,718,373 3,753,448 OBJECTIVES The Economic Development Department provides assistance in business attraction,relocation,and retention for the City of Grapevine. The - department will plan,market,and direct the business recruitment,retention,and expansion programs for the City.Identifying quality business prospects and creating and executing successful marketing campaigns to attract those businesses to Grapevine is a top priority. Departmental goals include maintaining positive relationships with developers,brokers,and other business professionals in order to encourage - business expansion consistent with the City's mission and vision. The department also serves as a liaison between new businesses and City departments to assist with required permitting,utility service arrangements,building and fire codes,and zoning and occupancy issues. 2018-19 2019-20 2020-21 2020-21 2021-22 PERFORMANCE INDICATORS Actual Actual Budget Estimate Proposed Support Targeted real estate development: - Complete a market and site context analysis on 185 acre 1 0 1 1 2 City owned tract Business retention and new business development: - Local business visits 50 100 120 400 160 - Broker meetings 10 20 30 15 30 - Presentations to Chamber of Commerce and ED 12 12 12 6 12 partnership meetings - Network and retention events attended 15 18 20 5 20 - Leads obtained from network and retention events 50 35 60 15 60 - Trade shows attended 5 5 5 0 5 - Social media posts 250 200 300 300 300 Market analysis and trends: - Retail and transit oriented development study 0 0 1 1 0 We had a robust and expanded retention visit schedule during 2020,almost exclusively conducted from home * over phone and email.We ramped up to over 400 businesses,but have since settled on a more concise number of around 160 Section 2 84 ECONOMIC DEVELOPMENT-122,124 EXPENDITURE DETAIL = Change Change from from 2018-19 2019-20 2020-21 2020-21 I I02142 1 FY20 FY21 Actual Actual Budget Estimate ' •• _.- e L., Actual Budget ECONOMIC DEVELOPMENT 41100 Salaries-Full Time 404,614 425,018 423,166 422,320 i :3-341395 -21% -21% 41107 Salaries-Overtime 9 94 - - = -100% 41190 Wages-Contract Labor 6,615 - 7,000 6,986 ;00©.:= 0% 41236 TMRS Benefits 78,173 82,471 82,296 82,131 1 6122.4 - -23% -23% 41247 Medicare 5,980 6,332 6,341 6,328 1 494 : -22% -22% 41271 Salaries-Longevity 2,324 674 1,776 1,772 456. -32% -74% 41273 Salaries-Sick Leave Buy Back 10,474 3,247 8,138 8,122 I 10.62; -40% -76% 41275 Car Allowance 3,850 4,550 4,200 4,192 :4;260:: -8% 0% 41276 Phone Allowance 60 780 720 719 ': • •720: -8% 0% Personnel Subtotal 512,099 523,166 533,637 532,570 I 416;9Ii2:i -20% -22% 42200 Operating Supplies 9,034 16,915 5,000 4,990 5;000.1 -70% 0% 42210 Computer Equip And Supplies - 2,997 - - -100% 42261 Postage And Related Charges 177 6,464 100 100 ' ;100,=1 -98% 0% 42285 Motor Vehicle Fuel 22 - 500 499 All! 0% Supplies Subtotal 9,233 26,376 5,600 5,589 ; ,5, O0;i -79% 0% 43350 Building Maintenance 6,712 16,132 - - -100% Maintenance 6,712 16,132 - - -100% 44500 IT License&Maint Fees 309 600 - - �. -100% 44505 Travel,Training And Dues 56,464 32,068 27,500 27,445 27 500; -14% 0% 44525 Utilities 22,005 95,372 4,000 3,992 ; '4,000; -96% 0% 44535 Financial Services Fees 13,372 10,853 - -100% 44540 Professional Services 381,961 346,596 95,000 94,810 45;OOQ -73% 0% 445b0 Marketing&Promotion 64,622 75,450 70,000 69,860 70000:? -7% 0% 44560 Marketing&Promotion - 14,638 - - -100% 44565 Advertising Publ&Subscript 5,015 9,000 - - -. -100% 44687 Chapter 380 Rebate - - 600,000 598,800 : •I., ;875 ; 114% 44627 Insurance,Fleet&It Charges 14,289 11,387 - - 11075"I -3% 44686 Community Distributions 148,200 2,076,911 685,120 683,750 :78;2G6. -96% -89% 44535 Financial Service Fees 1,240 - - - -. 44573 Leases And Rentals 160 - - - Services Subtotal 707,637 2,672,875 1,481,620 1,478,657 : it 68; z1b-? -41% 6% 45541 Property Insurance 9,637 - - - 45554 Worker's Comp Ins Premium 120 280 128 128 i 124 1 -56% -3% 45664 Health Insurance Claims 47,434 47,434 40,679 40,598 : l:tx`J6-.' 9% 27% 45670 Retiree Insurance Premiums - - - - 7013 ' 45671 Retiree Insurance Claims - - - - '11•; 06. 45674 Health Insurance Premiums 9,102 9,102 10,334 10,313 IA),J48•.' 20% 6% Insurance Subtotal 66,293 56,816 51,141 51,039 :;81; 7; 44% 60% 54100 Transfers To General Fund 339,626 306,000 291,204 250,000 2811k9" -8% -3% 54130 Transfers To Debt Service 1,396,444 1,401,394 1,400,519 1,400,519 i '098094:I 0% 0% Transfers 1,736,070 1,707,394 1,691,723 1,650,519 : 1,6gIf; QS,-i -2% -1% Total Economic Development 3,038,044 5,002,759 3,763,721 3,718,373 1, s3,448:°. -25% 0% 1e4 .001:0 /0101 : iii A .._.._....-4110 904 --4;1107I7 •1A.O'; ..--'-:,$8:4 26.. 2l97`s7j0:r......428% i;% IF041 isuraiieg 044 Adis ii Fee. Section 2 , 85 Comments/Justification 42200 Operating Supplies 5,000 General Office Supplies 44505 Travel,Training And Dues 27,500 ED Director$10,000 for ICSC(Texas and National)plus Local Conferences,ED Manager$10,000 for ICSC(Texas and National)plus Local Conferences,and ED Coordinator$7,500 for ICSC(Texas and National)plus Local Conferences. 44560 Marketing&Promotion 70,000 Items for marketing outreach to address opportunities for new investment in Grapevine,Investment promotion and marketing materials,and development of electronic data and information including our website. 44686 Community Distributions 78,266 Payments associated with incentives for Chapter 380 agreements. Section 2 86 Section 5. That this budget proposal be transmitted to the Grapevine City Council and recommended for approval and inclusion in its operating budget for Fiscal Year 2022. Section 6. That this resolution shall take effect from and after the date of its passage. PASSED AND APPROVED BY THE GRAPEVINE 4B ECONOMIC DEVELOPMENT CORPORATION BOARD OF DIRECTORS OF THE CITY OF GRAPEVINE, TEXAS on this the 7th day of September, 2021. APPROVED: William . Tate President ATTEST: 0�\G DEVF� o 431 ` Tara Brooks City Secretary APPROVED AS TO FORM: fcc\ti b)• (2" Matthew C.G. Boyle City Attorney 2 RES. NO. 4B 2021-001