EDC sells park land

During its regular (but on a Monday) Dec. 11, 2017 meeting, the Forney Economic Development Corp. met and in summary:

  • Financial Report – Mr. Burrus said 16.6% through year, revenue is ahead of last year, expenses are low, paid off a property lien.
  • Executive Director’s Report - Mr. Ketteman passed out gifts, stating they were purchased with personal funds, not EDC money. They had lunch w/ interim city manager to bring him up to speed. On projects: W. Broad St. sewer, will be meeting with businesses there, such as Deen Implement; TxDOT will switch traffic near Deen Implement on Dec. 13, Broad St. exit will stay on the frontage rd; downtown loyalty program will end in Dec.; road is complete at Trinity/Elm & Bois d'Arc, still working on sidewalk; business database shows about 70 properties underutilized; LCG still working with TxDOT; RaceTrac folks moving forward, easement contracts are close to completion. The board presented gifts to staff, stating they did not use city funds.
  • Approved a façade grant application for 203 N. Bois d’Arc St. Mr. McGregor briefed the board, Mr. Crenshaw said the pictures were from when his dad bought it in about 1964, hasn't been worked on since. Mr. Crenshaw said wants to put decorative lights and security cameras. Tim Boles said he would like to update his building too. Mr. Crenshaw said they might put back up a historic sign. Mr. McGregor said staff recommends maximum 10k exterior, 5k interior.
  • Approved an official application for incentives - Mr. McGregor said industrial or small businesses don't have an easy way to apply. Ms. Lewis asked if could be filled out online - not yet.
  • Approved an organizational ethics policy. Pres. McBeth said this is a formality, Mr Ketteman said it is a result of sales tax training. Mr. Ketteman spoke about not poaching businesses from other cities. There is no reason to incentivize companies to move within Kaufman county. Mr. Ketteman said city attorney has reviewed the policy. Mr. McGregor said a lot of this was taken from the Tx Economic Council ethics policy, and modified to reflect local values.
  • Held a 37-minute executive session
  • Approved authorized Board President to sign an economic development performance agreement for Forney Marketplace, LLC. Provided documents indicate the developer may be reimbursed for up to $1 million for infrastructure improvements.
  • Authorized the Board President to execute a real estate contract with Meadow Ridge Farm, LP to sell park land, 50 acres. Provided documents indicate the sales price is $925,000.
  • Mr. Ketteman said Marketplace performance agreement will be on council agenda tomorrow night. In Jan will have an item before council; $400k originally set aside, adding $600k in infrastructure work.
  • Mr. McGregor said Jan 16 will be joint meeting w/ city council and EDC. Mr. Ketteman mentioned the council retreat in Jan. and said EDC's are not allowed to meet outside city limits.
  • Adjourned at 19:40
Monday, 2017, December 11