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Home My WebLink AboutRES 4B 2025-001GRAPEVINE 4B ECONOMIC DEVELOPMENT CORPORATION RESOLUTION NO. 4B 2025-001 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, 2025 AND ENDING SEPTEMBER 30, 2026; 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 Economic Development Corporation 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 «A„ Section 2. That the Grapevine 4B Economic Development Corporation Board adopts the proposed operating budget for fiscal year ending September 30, 2026. 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. Exhibit "A" iP 1E : 'T TB...A.A �..; 4B Transit Fund (TexRail) FY2025-2026 Proposed Operating Budget Fund 308 Department Description The 4B Transit Fund provides funding for the development of commuter rail service. Voters approved a 3/8-cent sales tax increase that commenced on April 1, 2007. The fund is also responsible for accumulating funding for the land acquisition, design, construction and operation of a passenger rail station and providing funding for 50% of the operations of the Grapevine Visitor Shuttle system. FY26 Department Goals • Enhance mobility across Tarrant County. • Increase access to Historic Downtown Grapevine and other Grapevine visitor destinations. Revenue and Expense Detail ACTUALS ADOPTED BUDGET ESTIMATE PROPOSED BUDGET FY2023 FY2024 FY2025 FY2025 FY2026 $ Change From FY25 Bud % Change from FY25 Bud Revenues SALES TAXES $13,892,702 $14.900,925 $15,937.500 $15,111,875 $14,750,000 ($1,187,500) (7%) INTEREST ON INVESTMENTS $2,827 $0 $0 $0 $0 $0 - REVENUES TOTAL $13,895,529 $14,900,925 $15,937,500 $15,111,875 $14,750,000 ($1,187,500) (7%) Expenses INTERGOVERNMENTAL EXPENDITURES $13,587,660 $14,499,325 S15,511,684 $14,709,028 $14,390,043 ($1,121,641) (7%) SALES TAX PAID TO BE EXPENSED $0 $0 $0 $0 $0 $0 - TRANSFER TO CVE $0 $2,827 $0 $0 $0 $0 - TRANSFER TO SHUTTLE FUND $328,388 $356,836 $425,816 $402,847 $359,957 ($65,859) (15%) EXPENSES TOTAL $13,916,048 $14,858,988 $15,937,500 $15,111,875 $14,750,000 ($1,187,500) (7%) Surplus (Deficit) ($20,518) $41,937 $0 $0 $0 - - Ending Fund Balance $2,827 $44,764 $44,764 $44,764 $44,764 - - 34 ,� V'1E, 'NT k,t' , g 413 Economic Development Fund FY2025-2026 Proposed Operating Budget Fund 310 Summary of Revenue and Expenses ACTUALS ADOPTED BUDGET ESTIMATED PROPOSED BUDGET FY2023 FY2024 FY2025 FY2025 FY2026 $ Proposed vs 25 Bud % Proposed vs 25 Bud Revenues SALES TAXES $5,874,104 $6,202,388 $5,312,500 $6,337,500 $6,500,000 $1,187,500 22% INVESTMENT INCOME $489,913 $649,451 $341,715 $546,852 $382,626 $40,911 12% MISCELLANEOUS $64,854 $0 $0 $8,399,321 $0 $0 — TRANSFERS IN $0 $2,827 $0 $0 $0 $0 — REVENUES TOTAL $6,428,872 $6,854,666 $5,654,215 $15,283,673 $6,882,626 $1,228,411 22% Expenses PERSONNEL SERVICES $396,380 $461,404 $490,259 $494,672 $509,070 $18,811 4% SUPPLIES $1,486 $738 $12,800 $7,000 $9,500 (S3,300) (26%) MISC SERVICES & CHARGES $1,795,821 $4,326,917 $3,274,995 $3,575,307 $3,298,376 $23,381 1 DESIGNATED EXPENSES $82,152 $52,875 $79,270 $79,270 $62,565 ($16,705) (21 % ) CAPITAL OUTLAY $0 $0 $0 $5,552,475 $0 $0 — OPERATING TRANSFER OUT $1,878,745 $1,868,767 $1,796,891 $1,796,891 $1,815,615 $18,724 1 EXPENSES TOTAL $4,154,584 $6,710,701 $5,654,215 $11,505,615 $5,695,126 $40,911 1 Surplus (Deficit) $2,274,288 $143,966 $0 $3,778,058 $1,187,500 — — Ending Fund Balance $15,663,230 $15,807,195 $15,807,195 $19,585,253 $20,772,753 — — 35 ,GRA T.tiE. #°,1 1� l T S�' 413 Economic Development Fund FY2025-2026 Proposed Operating Budget Fund 310 Department Description The Economic Development Department is responsible for promoting economic growth through business retention and attraction, maintaining a positive relationship with developers, brokers, and other business professionals in order to encourage business expansion. The Department is also responsible for liaise with new businesses and city departments to assist with required permitting, utility service arrangements, building and fire codes, zoning and occupancy approvals. FY26 Department Goals • Proactively execute business development strategies and identify quality business prospects. • Strategically plan inbound economic development marketing strategy. • Provide excellent customer service for key business stakeholders. • Facilitate cross -departmental collaboration to increase the efficiency and impact of city programs. Expenses by Type ACTUALS ADOPTED BUDGET ESTIMATED PROPOSED BUDGET FY2023 FY2024 FY2025 FY2025 FY2026 $ Change from FY25 Bud % Change from FY25 Bud Expenses ECONOMIC DEVELOPMENT $2,275,819 $4,841,886 NO PROGRAM DESIGNATED EXPENSES $19 $47 OPERATING TRANSFER OUT $1,878.745 $1,868,767 NO PROGRAM TOTAL $1,878,765 $1,868,815 EXPENSES TOTAL $4,154,584 $6,710,701 Position Summary Position Name FTE ADMINISTRATIVE COORDINATOR COMMERCIAL OUTREACH MANAGER DIRECTOR OF ECONOMIC DEVELOPMENT MARKET RESEARCH MANAGER FTE $3,857,324 $9,693,685 $3,879,511 $22,187 1% $0 $0 $0 $0 — $1,796,891 $1,796.891 $1,815,615 $18,724 1% $1,796,891 $1,796,891 $1,815,615 $18,724 1% $5,654,215 $11,490,576 $5,695,126 $40,911 1% 2023 Actual 2024 Actual 2025 Budgeted 2025 Estimated 2026 Proposed 0.5 0.5 0.5 0.5 0.5 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 3.5 3.5 3.5 3.5 3.5 36 2022-2023 2023-2024 2024.2025 2024-2025 2025.2026 Performance Indicator Actual Actual Budget Estimate Proposed CRM contacts 150 200 500 427 Soo Web Visitors 30,000 33,000 38.000 35,000 40.000 Newsletter subscribers 300 340 400 543 600 Local business visits 125 125 125 60 125 Presentations to Chamber of Commerce and ED partnership meetings 15 15 15 10 12 Network and retention events attended 25 25 25 25 25 Trade shows/conferences attended 9 10 10 a 10 Planning meetings 24 24 24 24 24 Project management 20 20 30 25 30 Expense Detail ACTUALS ADOPTED ESTIMATED BUDGET PROPOSED BUDGET FY2023 FY2024 FY2025 FY2025 FY2026 $ Change From FY25 % Change from FY25 Bud Bud Expenses PERSONNEL SERVICES SALARIES FULL TIME $318,827 $367,999 - $391,590 $395,300 $407,159 $15,569 4% SALARIES OVERTIME $0 $86 $0 $0 $0 $0 - EXECUTIVE DEFERRED COMP $577 $0 $0 $0 $0 $0 - TMRS BENEFITS $62,275 $75,594 $78,866 $79.160 $81,527 $2,661 3% MEDICARE $4,668 $5,398 $5,678 $5,751 $5,923 $245 4% SALARIES LONGEVITY $813 $926 $954 $1,290 $1,290 $336 35% SALARIES SICK LEAVE BUYBACK $5,280 $5,761 $7,531 $7,531 $7,531 $0 0% CAR ALLOWANCE $2,800 $4,200 $4,200 $4,200 $4,200 $0 0% PHONEALLOWANCE $1,140 $1,"0 $1,440 $1,440 $1,440 $0 0% PERSONNEL SERVICES TOTAL $396,380 $461,404 $490,259 $494,672 $509,070 $18,811 4% SUPPLIES OPERATING SUPPLIES $1,137 $238 $7,500 $2,000 $2,500 -$5,000 -67% POSTAGE & RELATED EXPENSES $12 $0 $0 $1,000 $1,000 $1,000 - MOTOR VEHICLE SUPPLIES $0 $0 $1,300 $0 $0 -$1,300 -100% FURNITURE & FIXTURES $0 $0 $0 $0 $2,000 $2,000 - COMPUTER EQUIPMENT & SUPPLIES $337 $500 $4,000 $4,000 $4,000 $0 0% SUPPLIES TOTAL $1,486 $738 $12,800 $7,000 $9,500 -$3,300 .26% REPAIR & MAINTENANCE MISC SERVICES & CHARGES TRAVEL TRAINING & DUES $31,608 $39,111 $75,975 $70,000 $70,000 -$5,975 -8% UTILITIES -$90 -$90 $0 $0 $0 $0 - FINANCIAL SERVICES FEES $9,025 $12,281 $2,000 $0 $0 -$2,000 -100% PROFESSIONAL SERVICES $133,857 $81,660 $38.894 $105.520 $46,612 $7,718 20% MARKETING & PROMOTION $33,143 $53,540 $72,500 $50,000 $50,000 -$22,500 -31% PUBLICATIONS & NOTICES $2.500 $2.798 $0 $0 $0 $0 - INSURANCE FLEET & IT CHARGES $15,259 $14,152 $17,302 $17,302 $15,128 -$2,174 -13% COMMUNITY DISTRIBUTIONS $275 $30,425 $78,266 $275 $100,000 $21,734 28% CHAPTER 380 REBATE $1,524,123 $4,062,900 $2,933,312 $3.245,915 $2,933,312 $0 0% SOFTWARE COMPUTER $46,120 $30,139 $56,746 $71,256 $83,324 $26,578 47% SUBSCRIPTION CONTRACT SVCS BEAUTIFICATION $0 $0 $0 $15,039 $0 $0 - MISC SERVICES & CHARGES TOTAL $1,795,821 $4,326,917 $3,274,995 $3,575,307 $3,298,376 $23,381 1% DESIGNATED EXPENSES SALES TAX PAID TO BE EXPENSED $19 $47 $0 $0 $0 $0 - INSURANCE WORKERS COMP S430 $147 $114 $114 $245 $131 115% HEALTH INSURANCE CLAIMS $51,676 $38.342 $55,654 $55,654 $35,949 -$19,705 -35% RETIREE INSURANCE PREMIUMS $7,373 $7,324 $5,596 $5,596 $6,405 $809 14% RETIREE INSURANCE CLAIMS $11,706 $0 $8,461 $8,461 $13,711 $5,250 62% HEALTH INSURANCE PREMIUMS $10,948 $7,014 $9,445 $9,445 $6,255 -$3,190 -34% DESIGNATED EXPENSES TOTAL $82,152 $62,875 $79,270 $79,270 $62,565 -$16,705 -21% CAPITAL OUTLAY 37 ACTUAL$ FY2023 FY2024 LAND $0 $0 LANDIMPROVEMENTS - - CAPITAL OUTLAY TOTAL $0 $0 OPERATING TRANSFER OUT TRANSFER TO GENERAL FUND S477,301 $470,598 TRANSFER TO DEBT SERVICE $1,401,444 $1,398,169 OPERATING TRANSFER OUT TOTAL $1,878,745 $1,868,767 EXPENSES TOTAL $4,154,584 $6,710,701 ADOPTED ESTIMATED PROPOSED BUDGET BUDGET FY2025 FY2025 FY2026 $ Change From FY25 % Change from FY25 Bud Bud $0 $5,000,538 $0 $0 - $0 $551,937 $0 $0 - $0 $5,552,475 $0 $0 - $398,438 $398,438 $419,046 $20,608 5% $1,398,453 $1,398,453 $1,396,569 -$1,884 0% $1,796,891 $1,796,891 $1,815,615 $18,724 1% $5,654,215 $11,505,615 $5,695,126 $40,911 1% 44500 SOFTWAREICOMPUTER SUBSCRIPTION $83,324 Adobe $1,324 Costar $12,519 EDOrO $6,180 Envato Elements $208 GIS Planning $10,930 Golden Shovel $14.925 Laserfiche Fees for Fund 310 $927 Mailchimp $334 Nearmap US $3.500 Placer.ai $25,000 SizeUp $7,250 Spreaker $227 44505 TRAVEL TRAINING & DUES F $70A ICSC (Texas and National) plus Local Conferences for all 3 staff members $54.000 Expand trade show calendar and attend new shows $15,000 Miscellaneous Dues $1,000 44540 PROFESSIONAL SERVICES F $46,612 Audit Services $10,496 France Publications - Lunchtime sponsor of EEE (Trade show in Los $7 000 Angeles. February) PayCom Fees for Fund 310 $1,026 REsrmptdi - Provides real estate population of our property search tool $3,090 on our website The Trade Group - Booth Storage and Setup for Trade Shows $25,000 38 _ 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 2026. 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 2nd day of September, 2025. APPROVED. - William D. ate President ATTEST: Tara Brooks City Secretary APPROVED AS TO FORM: 7M &)2 Matthew C.G. Boyle City Attorney Resolution No. 4B 2025-001 2