HomeMy WebLinkAboutCDCpkt2019-04-04THE CITY OF
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ANNA COMMUNITY DEVELOPMENT CORPORATION
Thursday, April 4, 2019 at 6:30 p.m.'
ANNA CITY HALL, COUNCIL CHAMBERS
111 N. POWELL PARKWAY, ANNA, TEXAS
The Anna Community Development Corporation will conduct a meeting at 6:30 p.m.' on
Thursday, April 4, 2019, at the Anna City Hall Administration Building, 111 N. Powell
Parkway, to consider the following items:
1. Call to Order, Roll Call and Establishment of Quorum.
2. Invocation and Pledge.
3. Citizen Comments. Persons may address the Board of Directors on items not
on the agenda; please observe the time limit of three (3) minutes. Members of
the Board of Directors cannot comment on or deliberate statements of the
public; except as authorized by Section 551.042 of the Texas Government
Code.
4. Consider/Discuss/Action approving minutes from the CDC meeting from March
2019.
5. Consider/Discuss/Action on amending a Professional Services Agreement
between the Anna Community Development Corporation and Funderburgh Realty
for project management and real estate services related to the Anna Business Park
and authorizing the Board President to execute all necessary documents on behalf
of the Corporation.
6. Consider/Discuss/Act on a Resolution entering into a contract for real estate
services for the Anna Business Park and authorizing the Board President to
execute all necessary documents on behalf of the Corporation.
7. Director's Report
A. Ashley Stathatos transitioning to Planning Dept.
B. May meeting to be held on May 16th
I ADDITIONAL NOTICE REGARDING MEETING TIME: In the event that the Anna Economic Development Corporation
meets at the same time and place scheduled for this meeting, then this meeting of the Anna Community Development
Corporation may be delayed but will begin immediately after the conclusion of the meeting of the Anna Economic
Development Corporation.
IMPORTANT LEGAL NOTICE: The Corporation may vote and/or act upon each of the items listed in this agenda. The
Corporation reserves the right to retire into executive session concerning any of the items listed on this agenda, whenever
it is considered necessary and legally justified under the Open Meetings Act. Disabled persons who want to attend this
meeting and who may need assistance should contact the City Secretary at 972-924-3325 two working days prior to the
meeting so that appropriate arrangements can be made.
C. Report on current corporate financial status —Discussion Only
D. ICSC Update
E. Chamber Golf Tournament, May 6, 2019
F. Marketing materials/website update
G. Joint Meeting with Council
8. CLOSED SESSION (exceptions):
A. Deliberate regarding the purchase, exchange, lease or value of real
property. (Tex. Gov't Code §551.072) possible property acquisition;
possible land sale/purchase;
B. Consult with legal counsel on matters in which the duty of the attorney
to the governmental body under the Texas Disciplinary Rules of
Professional Conduct of the State Bar of Texas clearly conflicts with
Chapter 551 of the Government Code (Tex. Gov't Code §551.071);
Discuss contract concerning Revolving Loan Fund;
C. Discuss or deliberate Economic Development Negotiations:
(1) To discuss or deliberate regarding commercial or financial information
that the Board of Directors has received from a business prospect that the
Board of Directors seeks to have locate, stay, or expand in or near the
territory of the City of Anna and with which the Board is conducting
economic development negotiations; or,
(2) To deliberate the offer of a financial or other incentive to a business
prospect described by subdivision (1). (Tex. Gov't Code §551.087) Anna
Business Park Property; potential retail and medical projects.
9. Reconvene into open session and take any action on closed session items.
10. Announcements.
11. Adjourn.
This is to certify that I, Joey Grisham, Economic Development Director, posted this
agenda at a place readily accessible to the public at the Anna City Hall and on the City
Hall bulletin board at or before 6:00 p.m. on April 1, 2019.
J ham, Economic Development Director
IMPORTANT LEGAL NOTICE: The Corporation may vote and/or act upon each of the items listed in this agenda. The
Corporation reserves the right to retire into executive session concerning any of the items listed on this agenda, whenever
it is considered necessary and legally justified under the Open Meetings Act. Disabled persons who want to attend this
meeting and who may need assistance should contact the City Secretary at 972-924-3325 two working days prior to the
meeting so that appropriate arrangements can be made.
THE CITY OF
AGENDA ITEM:
Item No. 4
CDC Agenda
Staff Report
Meeting Date: 4.4.2019
Staff Contact: Joey Grisham
Consider/Discuss/Action approving minutes from the CDC meeting from March 2019.
SUMMARY:
STAFF RECOMMENDATION:
ATTACHMENTS:
1. 3-7-2019 CDC Minutes
Anna Community Development Corporation Meeting Minutes
Thursday, March 7, 2019 at 6:30 pm
Anna City Hall, Council Chambers
111 N. Powell Parkway, Anna, Texas 75409
CDC Board Members Present: Anthony Richardson, Shelby Miles, James Gurski,
Rocio Gonzalez, Stan Carver, Bruce Norwood, Josh Vollmer. No Board Members
were absent. Staff Members present: Jim Proce (City Manager), Joey Grisham
(EDC Director), Ashley Stathatos (CAO), and Clark McCoy (CDC/EDC Legal
Counsel)
1. Call to Order. Roll Call and Establishment of Quorum.
The meeting was called to order by Anthony Richardson, Board President, at 6:37
pm.
2. Invocation and Pledge.
Invocation and pledge of allegiance led by Anthony Richardson.
3. Citizen Comments.
No citizens came forward for citizen's comments.
4. Consider/Discuss/Action approving minutes from the CDC meeting from
January and February 2019.
Josh Vollmer made a motion to approve the minutes from the January and
February 2019 meetings. Jim Gurksi seconded the motion. All were in favor.
Motion passed.
5. Consider and Discuss Residential Strategies Market Summary Reports.
Joey Grisham stated that the CDC had commissioned a MetroStudy report in 2018
and that the CDC needs more updated housing data including housing starts,
active subdivisions, vacant lots, future lots, occupied homes, and median home
price. This info is supplied to developers, brokers, prospective businesses and
home builders and is especially useful when recruiting retailers and restaurants.
Mr. Grisham recommended using a different firm called Residential Strategies,
which looks at a larger trade area than MetroStudy. The cost of the report is
$1,750.
6. Consider/Discuss/Action approving a resolution authorizing payment for
Residential Strategies Reports.
Stan Carver made a motion to approve the resolution authorizing an agreement
and expenditure of funds for a residential market summary report with Residential
Strategies. Jim Gurski seconded the motion. All were in favor. Motion passed.
IMPORTANT LEGAL NOTICE: The Corporation may vote and/or act upon each of the items listed in this agenda. The
Corporation reserves the right to retire into executive session concerning any of the items listed on this agenda, whenever
it is considered necessary and legally justified under the Open Meetings Act. Disabled persons who want to attend this
meeting and who may need assistance should contact the City Secretary at 972-924-3325 two working days prior to the
meeting so that appropriate arrangements can be made.
7. Consider and Discuss Real Massive to finish out the CDC's online property
database.
Joey Grisham provided an overview of Real Massive, which is an online real estate
solutions company that provides an extensive listing of commercial properties. He
stated that the Zoom Prospector tool that the CDC uses provides the platform and
Real Massive populates it with commercial properties allowing us to finish out the
CDC's online property database. Real Massive works closely with real estate
brokerage firms and others to maintain an accurate database of properties and
updates them twice weekly.
8. Consider/Discuss/Action approving a resolution authorizing payment for
Real Massive.
Anthony Richardson made a motion to approve the resolution authorizing an
agreement and expenditure of funds on a quarterly basis, subject to approval by
legal counsel, with Real Massive to provide commercial real estate listing data.
Josh Vollmer seconded the motion. All were in favor. Motion passed.
9. Consider and Discuss Community & Economic Development marketing
pieces.
Joey Grisham and Ashley Stathatos both stated that the CDC needs several
marketing tools including a new website, brochures, trade show booth, promotional
items, professional photos, and updated aerial maps. At the last meeting, staff
requested that $15,000 be released to begin the creative work, however, after
reassessing the phasing of design work, interviewing additional firms, and
receiving more quotes, staff is requesting that the remaining unallocated
promotional funds be released. Ashley Stathatos said that $90,000 was allocated
in the FY 2019 budged for promotional expenses and that approximately $45,000
was available. She also stated that staff would research how much the CDC and
EDC had in unexpended promotional funds in past years which by law can used
with approval from the Board and City Council. Lastly, staff believed that Misfit
Brands had the most thorough proposal and offered the most experience in dealing
with Economic Development Corporations and Cities.
10. Consider/Discuss/Action approving a resolution authorizing payment for the
design of new marketing pieces.
Josh Vollmer made a motion to approve the resolution authorizing an agreement
and expenditure of funds not to exceed $45,000 for marketing and promotional
purposes to provide professional graphic design services. Shelby Miles seconded
the motion. All were in favor. Motion passed.
11. Consider/Discuss/Action on ICSC RECON.
Joey Grisham reminded the Board that the ICSC RECON Show was coming up in
May which is the world's largest retail real estate convention. He stated that in the
FY 2019 budget, only two people were budgeted to attend and that additional
funds would need to be identified if more people were to attend. He also stated
that he needs to know soon who would be attending so that travel arrangements
could be made. No action was taken.
IMPORTANT LEGAL NOTICE: The Corporation may vote and/or act upon each of the items listed in this agenda. The
Corporation reserves the right to retire into executive session concerning any of the items listed on this agenda, whenever
it is considered necessary and legally justified under the Open Meetings Act. Disabled persons who want to attend this
meeting and who may need assistance should contact the City Secretary at 972-924-3325 two working days prior to the
meeting so that appropriate arrangements can be made.
12. CLOSED SESSION (exceptions):
a. Consult with legal counsel on matters in which the duty of the attorney
to the governmental body under the Texas Disciplinary Rules of
Professional Conduct of the State Bar of Texas clearly conflicts with
Chapter 551 of the Government Code (Tex. Gov't Code §551.071);
b. Discuss or deliberate Economic Development Negotiations:
(1) To discuss or deliberate regarding commercial or financial information
that the Board of Directors has received from a business prospect that the
Board of Directors seeks to have locate, stay, or expand in or near the
territory of the City of Anna and with which the Board is conducting
economic development negotiations; or
(2) To deliberate the offer of a financial or other incentive to a business
prospect described by subdivision (1). (Tex. Gov't Code §551.087) Anna
Business Park Property; potential retail projects.
The CDC Board did not go into closed session.
13. Act on closed session items
No action was taken.
14. Announcements:
Ashley Stathatos stated that city board member applications were due on April 1It
15. Adjourn.
Anthony Richardson made a motion to adjourn the meeting at 8:28 pm. Stan
Carver seconded the motion. All were in favor. Motion passed.
APPROVED:
Anthony Richardson
President of CDC
ATTESTED:
Jim Gurski
Secretary of CDC
IMPORTANT LEGAL NOTICE: The Corporation may vote and/or act upon each of the items listed in this agenda. The
Corporation reserves the right to retire into executive session concerning any of the items listed on this agenda, whenever
it is considered necessary and legally justified under the Open Meetings Act. Disabled persons who want to attend this
meeting and who may need assistance should contact the City Secretary at 972-924-3325 two working days prior to the
meeting so that appropriate arrangements can be made.
THE CITY OF
AGENDA ITEM:
Item No. 5
CDC Agenda
Staff Report
Meeting Date: 4.4.2019
Staff Contact: Joey Grisham
Consider/Discuss/Action on amending a Professional Services Agreement between the
Anna Community Development Corporation and Funderburgh Realty for project
management and real estate services related to the Anna Business Park and authorizing
the Board President to execute all necessary documents on behalf of the Corporation.
SUMMARY:
In February 2017, the AEDC/ACDC entered into a professional services agreement with
Funderburgh Realty for real estate representation related to the Anna Business Park. Mr.
Funderburgh's services were to include project management and pursuing users for the site.
Based on a review of the services provided, the current EDC staff had questions about how
many of the services were provided in 2018 and reached out to Mr. Funderburgh for additional
documentation and back up materials.
After reviewing the information, the EDC staff requested a reduction in the final payment for
services which Mr. Funderburgh agreed to. In lieu of paying $66,500, the final payment was
reduced by 35% to $43,225.
STAFF RECOMMENDATION:
Approve the amendment to the professional services agreement between the Anna
Community Development Corporation and Funderburgh Realty for project management and
real estate services related to the Anna Business Park and authorizing the Board President to
execute all necessary documents on behalf of the Corporation.
ATTACHMENTS:
1. Amendment/Original Agreement
AMENDMENT TO AGREEMENT FOR PROFESSIONAL SERVICES
This Amendment to Agreement for Professional Services (this "Amendment") is entered into on
the day of , 2019, (the "Effective Date") by and between the Anna
Economic Development Corporation, Texas, a Texas Type A development corporation, the Anna
Community Development Corporation, Texas, a Texas Type B development corporation, both
with their principal office at I I I North Powell Parkway, Anna, Collin County, Texas 75409,
hereinafter called "AEDC/ACDC" and David D. Funderburgh Real Estate Investments, Inc., a
Texas corporation d/b/a Funderburgh Realty with its principal office at 9535 Forest Ln Ste 206,
Dallas, TX 75243, hereinafter called "Funderburgh."
The Parties stipulate and recite that:
1. Effective the 2nd day of February 2017, AEDC/ACDC and Funderburgh (collectively, the
"Parties") entered into a certain Agreement for Professional Services (the "Agreement"), a copy
of which is attached hereto as Exhibit A;
2. The Parties mutually desire to terminate the Agreement by entering into this Amendment; and
3. It is the intent of the Parties that upon AEDC/ACDC's payment to Funderburgh of the Final
Payment, as defined below, the Parties' respective rights and obligations under the Agreement
shall be fully satisfied and discharged and no party to the Agreement shall thereafter have any
further obligations under the Agreement.
For the reasons set forth above, and in consideration of the mutual promises of the Parties pursuant
to this Amendment, the Parties agree as follows:
Section 1. Final Payment for Services Performed by Funderburgh and Release
A. Final Payment and Release. The AEDC/ACDC and Funderburgh agree that Funderburgh has
performed certain services under the Agreement and that AEDC/ACDC has made certain
payments to Funderburgh for said services. Notwithstanding any prior payments made by
AEDC/ACDC to Funderburgh and notwithstanding any provision of the Agreement, the Parties
agree as follows:
1. Within 30 days of the Effective Date of this Amendment, AEDC/ACDC shall pay
or cause to be paid to Funderburgh the amount of $43,225.00 (the "Final Payment").
2. Once the Final Payment is made or caused to be made to Funderburgh, the
Agreement shall be deemed to be terminated and null and void and the Parties shall have no further
rights or obligations thereunder. In consideration of the payment of the Final Payment,
Funderburgh fully releases, indemnifies, and holds AEDC/ACDC harmless from any past, present
or future claim of payment, benefit, or any other claim whatsoever arising under, related to, or in
any way connected with the Agreement.
AMENDMENT TO AGREEMENT FOR PROFESSIONAL SERVICES Page 1 of 6
B. Conflicts. To the extent of any conflict between this Amendment and the Agreement, this
Amendment shall govern.
Section 2. Miscellaneous
A. This Amendment is intended solely for the benefit of the AEDC/ACDC and Funderburgh and
does not confer any rights on any person or entity not a party to this Amendment, nor does it create
any third -party beneficiaries to this Amendment.
B. Any agreement, notice, correspondence, information and/or other documentation required
and/or referred to in this Amendment shall be in writing as provided by this Amendment.
C. Waiver by either party of any breach of this Amendment affecting such party, or the failure of
either party to enforce any of the provisions of this Amendment, shall not in any way affect, limit
or waive such party's right thereafter to enforce and compel strict compliance.
D. This Amendment constitutes the entire agreement between the Parties and supersedes all prior
agreements, whether oral or written, covering the same subject matter, including without limitation
the Agreement. This Amendment may not be modified or amended except in writing mutually
agreed to and accepted by the Parties.
E. This Amendment shall be construed in accordance with Texas law without regard to its conflict
of laws provisions.
F. Venue for any action arising hereunder shall be in Collin County, Texas.
G. Any notice or other communication required by this Amendment to be given, provided, or
delivered shall be in writing or electronic mail addressed as set forth below. Notices shall be
considered "given" for purposes of this Amendment: (a) if by Certified Mail, five (5) business days
after deposited with the U.S. Postal Service, Certified Mail, Return Receipt Requested; or (b) if by
private delivery service (e.g. FedEx or UPS), on the date delivered to the notice address as
evidenced by a receipt signed by any person at the notice address.
To AEDC/ACDC:
AEDC/ACDC
Attn: Joey Grisham
I I I N. Powell Parkway
Anna, Texas 75409
To Funderburgh:
Funderburgh Realty
9535 Forest Ln
Ste 206,
Dallas, TX 75243
AMENDMENT TO AGREEMENT FOR PROFESSIONAL SERVICES Page 2 of 6
Each party has the right to change, from time to time, its notice addresses by giving at least ten
(10) business day's written notice to the other party. If any time period provided in this Amendment
ends on a Saturday, Sunday, or legal holiday, the period shall be extended to the first business day
following such Sunday, Saturday, or legal holiday.
H. The recitals contained in this Amendment: (a) are true and correct as of the Effective Date; (b)
form the basis upon which the Parties negotiated and entered into this Amendment; and (c) reflect
the final intent of the Parties with regard to the subject matter of this Amendment. If it becomes
necessary to interpret any provision of this Amendment, the intent of the Parties, as evidenced by
the recitals and provisions of this Amendment, shall be given full effect. The Parties have relied,
to their material detriment, upon the recitals, representations and covenants stated in this
Amendment as part of the consideration for entering into this Amendment and, but for same, would
not have entered into this Amendment.
I. This Amendment may be executed in any number of counterparts, each of which shall be deemed
an original and constitute one and the same instrument. A facsimile signature will also be deemed
to constitute an original if properly executed.
J. The individuals executing this Amendment on behalf of the respective Parties below represent
to each other that all appropriate and necessary action has been taken to authorize the individual
who is executing this Amendment to do so for and on behalf of the party for which their signature
appears, that there are no other Parties or entities required to execute this Amendment in order for
the same to be an authorized and binding agreement on the party for whom the individual is signing
this Amendment and that each individual affixing their signature hereto is authorized to do so, and
such authorization is valid and effective on the Effective Date of this Amendment.
K. This Amendment is not assignable.
L. Each signatory represents this Amendment has been read by the party for which this
Amendment is executed and that such party has had the opportunity to confer with its counsel.
M. In case any one or more of the provisions contained in this Amendment shall for any reason be
held to be invalid, illegal or unenforceable in any respect, such invalidity, illegality, or
unenforceability shall not affect any other provision thereof, and this Amendment shall be
construed as is such invalid, illegal, or unenforceability provision had never been contained herein.
N. This Amendment shall be deemed drafted equally by the Parties hereto. The language of all
parts of this Amendment shall be construed as a whole according to its fair meaning, and any
presumption or principle that the language herein is to be construed against either party shall not
apply.
The AEDC/ACDC and Funderburgh have executed this Amendment on the day and year first
above -written.
AMENDMENT TO AGREEMENT FOR PROFESSIONAL SERVICES Page 3 of 6
ANNA ECONOMIC DEVELOPMENT CORPORATION
Anthony Richardson, its President
Date:
STATE OF TEXAS
COUNTY OF COLLIN
Before me, the undersigned authority, on this day personally appeared ANTHONY
RICHARDSON, known to me to be one of the persons whose names are subscribed to the
foregoing instrument; he acknowledged to me that he is the duly authorized representative
of and for the ANNA ECONOMIC DEVELOPMENT CORPORATION, a Texas Type A
development corporation, and he executed the said instrument for the purposes and
consideration therein expressed and in the capacity therein stated.
Given under my hand and seal of office this day of , 2019.
Notary Public in and for the State of Texas
My Commission Expires:
AMENDMENT TO AGREEMENT FOR PROFESSIONAL SERVICES Page 4 of 6
ANNA COMMUNITY DEVELOPMENT CORPORATION
Anthony Richardson, its President
Date:
STATE OF TEXAS
COUNTY OF COLLIN
Before me, the undersigned authority, on this day personally appeared ANTHONY
RICHARDSON, known to me to be one of the persons whose names are subscribed to the
foregoing instrument; he acknowledged to me that he is the duly authorized representative
of and for the ANNA COMMUNITY DEVELOPMENT CORPORATION, a Texas Type A
development corporation, and he executed the said instrument for the purposes and
consideration therein expressed and in the capacity therein stated.
Given under my hand and seal of office this day of , 2019.
Notary Public in and for the State of Texas
My Commission Expires:
AMENDMENT TO AGREEMENT FOR PROFESSIONAL SERVICES Page 5 of 6
DAVID D. FUNDERBURGH REAL ESTATE INVESTMENTS, INC., A TEXAS
CORPORATION D/B/A FUNDERBURGH REALTY
Wo
David D. Funderburgh, its President
Date:
STATE OF TEXAS
COUNTY OF
Before me, the undersigned authority, on this day personally appeared David D.
Funderburgh, known to me to be one of the persons whose names are subscribed to the
foregoing instrument; he acknowledged to me that he is the duly authorized representative
of and for DAVID D. FUNDERBURGH REAL ESTATE INVESTMENTS, INC., A TEXAS
CORPORATION D/B/A FUNDERBURGH REALTY, a Texas corporation, and he executed
the said instrument for the purposes and consideration therein expressed and in the capacity
therein stated.
Given under my hand and seal of office this day of , 2019.
Notary Public in and for the State of Texas
My Commission Expires:
AMENDMENT TO AGREEMENT FOR PROFESSIONAL SERVICES Page 6 of 6
ANNA COMMUNITY DEVELOPMENT CORPORATION
RESOLUTION NO.9017� 0a-03
A RESOLUTION OF THE ANNA COMMUNITY DEVELOPMENT CORPORATION
AUTHORIZING PROCUREMENT OF PROFESSIONAL SERVICES FOR PROJECT
MANAGEMENT AND REAL ESTATE REPRESENTATION
WHEREAS, the Anna Community Development Corporation (the "CDC") desires to
authorize their Chief Administrative Officer to procure the professional consulting
services of Funderburgh Real Estate Investments, Inc.; and
WHEREAS, the CDC has determined that the above -referenced services, further
described in Exhibit A, are in the best interests of the CDC and will promote Community
development and expanded business enterprise in the City of Anna;
NOW THEREFORE, BE IT RESOLVED BY THE ANNA COMMUNITY
DEVELOPMENT CORPORATION, THAT:
Section 1. Recitals Incorporated
The recitals set forth above are incorporated herein for all purposes as if set forth in full.
Section 2. Authority to Execute Consulting Services Agreement
The Board of Directors of the Anna Community Development Corporation authorize the
Chief Administrative Officer to execute, on behalf of the CDC, subject to approval of
legal form by the CDC 's legal counsel, a contract with Funderburgh Real Estate
Investments, Inc., as further described in Exhibit A, for professional consulting services
for project management and real estate representation, said authority to include
execution of all necessary documents to consummate the business relationship with
said consultant.
PASS D AND APP OVED by the Anna Community Development Corporation this
02 �ay of � , �(-CCJ I
2017.
APPROVED:
Jo iZL
h Houcek, CDC President
ANNA CDC RESOLUTION NO.���Ta��3 C�Df� PAGE 1 OF 1
Exhibit A
AGREEMENT FOR PROFESSIONAL SERVICES nk
This Agreement for Professional Services (this "Agreement") is entered into on the day of
2017, (the "Effective Date") by and between the Anna Economic
Development C oration, Texas, a Texas Type A development corporation, the Anna
Community Development Corporation, Texas, a Texas Type B development corporation, both
with its principal office at 111 North Powell Parkway, Anna, Collin County, Texas 75409,
hereinafter called "AFDC/ACDC" and David D. Funderburgh Real Estate Investments, Inc., a
Texas corporation d/b/a Funderburgh Realty with its principal office at 9535 Forest Ln Ste 206,
Dallas, TX 75243, hereinafter called "Funderburgh."
The parties stipulate and recite that:
1. The AFDC/ACDC has acquired certain real property as described in Exhibit A in the City of
Anna, Collin County, Texas, for development of a business park (the "Property").
2. AEDC/ACDC, to carry out its intentions, desires to engage Funderburgh to conduct project
management and real estate negotiations on behalf of the AEDC/ACDC in an effort to fill the
business park with users that align with the zoning restrictions and other criteria as desired by
AEDC/ACDC.
For the reasons set forth above, and in consideration of the mutual promises of the parties pursuant
to this Agreement, the parties agree as follows:
Section 1. Services to Be Performed by Funderburgh
A. Extent of services. The AEDC/ACDC engages Funderburgh to perform the services described,
subject to all terms and conditions of this Agreement and further described in the attached Project
Management Agreement Exhibit B, and Funderburgh agrees to perform them. These services will
be limited to the Property. Subject to reasonable advance notice Funderburgh agrees to make
himself available to consult with the AEDC/ACDC concerning any matters pertaining to the
likelihood of potential real estate transactions that the AEDC/ACDC wishes to make relative to
the Property. In connection with this, Funderburgh shall undertake, on the basis of criteria supplied
to it by the AEDC/ACDC, to use due diligence and pursue users to locate in the Property, which
meet zoning and other criteria as desired by AEDC/ACDC. Funderburgh agrees to negotiate on
the AEDC/ACDC's behalf the real estate transactions meeting these requirements.
B. Confidentiality. AEDC/ACDC ownership of the Property is now public knowledge and the
AEDC/ACDC hereby waives confidentiality concerns relative to the Property.
Section 3. Funderburgh's Compensation
Contemporaneous with the execution of this agreement, the AEDC/ACDC will provide
Funderburgh with a retainer in the amount of $7,000 in consideration of the project management
and administrative processing that will be needed to assist with marketing and transactions related
to the Property. The remainder of the compensation will be billed $66,500 in January of 2018 and
AGREEMENT FOR PROFESSIONAL SERVICES Page I of 11
$66,500 in January of 2019. The total compensation will not exceed $140,000.00. Provided,
however, if the scope of work significantly exceeds the description provided in this agreement and
as further detailed in the preliminary budget attached as Exhibit C, additional compensation may
be requested from the AEDC/ACDC.
Section 4. Termination
The respective duties and obligations of the parties hereto shall commence on the date first above
written, and shall terminate twenty-four (24) months after the Effective Date. In the event of a
breach by Funderburgh of any obligation of Funderburgh under this Agreement, the AEDC/ACDC
will have the right, on written notice to Funderburgh, to terminate the services of Funderburgh that
have not been fully performed in accordance with this Agreement prior to such termination,
without any liability whatever of the AEDC/ACDC to Funderburgh except to pay for the services
that Funderburgh has fully performed in accordance with this Agreement; provided, however, that
such termination will not affect any rights that the AEDC/ACDC may have by reason of such
breach and the AEDC/ACDC may pursue all remedies that may be available under law or in equity.
Such termination will be on the day specified in such notice, which date will not be earlier than
three business days after the date of the notice.
Section 5. Time for Performance
Funderburgh will act as project manager of the business park property for a period of 2 years
beginning upon execution of this agreement.
Section 6. Representations and Covenants of Funderburgh
To induce the AEDC/ACDC to enter into this Agreement, Funderburgh represents to and
covenants with the AEDC/ACDC that:
A. Qualifications. Funderburgh is qualified to perform the negotiating services required by this
Agreement, and now is, and at all times while this Agreement is in effect will be, properly licensed
and permitted to perform services of such nature. All personnel who may be employed by
Funderburgh to assist Funderburgh in the direct performance of such services also will be
qualified, licensed and permitted to perform such services, except personnel who perform only
clerical duties.
B. Facilities and personnel. Funderburgh has and will continue to have, while this Agreement is in
effect, adequate and proper facilities and qualified personnel to perform the services required.
Funderburgh will not permit any employee or other representative of Funderburgh to negotiate or
participate in the services outlined in this agreement without the prior written approval of the
AEDC/ACDC.
C. Disclosure of conflict of interest. If Funderburgh at any time discovers, or is informed by the
AEDC/ACDC of the existence of, any possible conflict of interest on the part of Funderburgh or
any of Funderburgh's employees involved in the services required of Funderburgh by this
Agreement, Funderburgh will immediately cease all activity in connection with such services and
AGREEMENT FOR PROFESSIONAL SERVICES Page 2 of 1 1
promptly notify the AEDC/ACDC in writing of all relevant facts and circumstances pertaining to
such conflict so that the AEDC/ACDC may take such action as it deems appropriate. Funderburgh
will not resume the performance of any services under this Agreement except as may be
specifically authorized in a subsequent or amended written notice by the AEDC/ACDC to
Funderburgh.
Section 7. Miscellaneous
A. This Agreement is intended solely for the benefit of the AEDC/ACDC and Funderburgh and
does not confer any rights on any person or entity not a party to this Agreement, nor does it create
any third party beneficiaries to this Agreement.
B. Any agreement, notice, correspondence, information and/or other documentation required
and/or referred to in this Agreement shall be in writing as provided by this Agreement.
C. Waiver by either parry of any breach of this Agreement affecting such party, or the failure of
either party to enforce any of the provisions of this Agreement, shall not in any way affect, limit
or waive such party's right thereafter to enforce and compel strict compliance.
D. The parties acknowledge and agree that the performance by the AEDC/ACDC and Funderburgh
of their respective obligations under this Agreement constitute governmental functions.
E. No party shall be in default under the Agreement until written notice of the default has been
given to the defaulting party (which notice shall describe in reasonable detail the nature of the
default) and the defaulting party has been given ten (10) business days to cure said default. If a
party is in default under this Agreement, the non -defaulting party may, at its option, and without
prejudice to any other right under this Agreement, law, or equity, seek any relief available at law
or in equity, including but not limited to, an action under the Uniform Declaratory Judgment Act,
specific performance, mandamus and injunctive relief. Neither party shall have the right to
terminate this Agreement as a remedy for default or to suspend or be relieved of the party's
continuous performance of its obligations hereunder. Notwithstanding the foregoing, each party
agrees that if any threatened or actual breach of this Agreement arises, which reasonably
constitutes immediate, irreparable harm to the other party for which monetary damages is an
inadequate remedy, equitable remedies may be sought by the non -defaulting party, without
providing the notice stated above, and awarded in a court of competent jurisdiction without
requiring the non -defaulting party to post bond.
F. This Agreement constitutes the entire agreement between the parties and supersedes all prior
agreements, whether oral or written, covering the same subject matter. This Agreement may not
be modified or amended except in writing mutually agreed to and accepted by the parties.
G. This Agreement shall be construed in accordance with Texas law without regard to its conflict
of laws provisions.
H. Venue for any action arising hereunder shall be in Collin County, Texas.
AGREEMENT FOR PROFESSIONAL SERVICES Page 3 of 11
I. Any notice or other communication required by this Agreement to be given, provided, or
delivered shall be in writing or electronic mail addressed as set forth below. Notices shall be
considered "given" for purposes of this Agreement: (a) if by Certified Mail, five (5) business days
after deposited with the U.S. Postal Service, Certified Mail, Return Receipt Requested; (b) if by
private delivery service (e.g. FedEx or UPS), on the date delivered to the notice address as
evidenced by a receipt signed by any person at the notice address; or (c) if by electronic mail, on
the date received by the recipient as evidenced by the date stamp.
To AEDC/ACDC:
AEDC/ACDC
Attn: Jessica Perkins
I I I N. Powell Parkway
Anna, Texas75409
jperkins@annatexas.gov
With a mandatory copy to:
Clark McCoy
Wolfe, Tidwell & McCoy, LLP
2591 Dallas Parkway
Suite 300
Frisco, Texas 75034
cmccoy@wtmlaw.net
To Funderburgh:
Funderburgh Realty
9535 Forest Ln
Ste 206,
Dallas, TX 75243
FRCI000@aol.com
With a mandatory copy to:
The Law Office of Laura F. James, P.C.
6009 West Parker, Suite 149-263
Plano, Texas 75093
laurajameslaw@gmail.com
Each party has the right to change, from time to time, its notice addresses by giving at least ten
(10) business days written notice to the other parry. If any time period provided in this Agreement
ends on a Saturday, Sunday, or legal holiday, the period shall be extended to the first business day
following such Sunday, Saturday, or legal holiday.
AGREEMENT FOR PROFESSIONAL SERVICES Page 4 of I 1
J. The recitals contained in this Agreement: (a) are true and correct as of the Effective Date; (b)
form the basis upon which the parties negotiated and entered into this Agreement; and (c) reflect
the final intent of the parties with regard to the subject matter of this Agreement. If it becomes
necessary to interpret any provision of this Agreement, the intent of the parties, as evidenced by
the recitals and provisions of this Agreement, shall be given full effect. The parties have relied, to
their material detriment, upon the recitals, representations and covenants stated in this Agreement
as part of the consideration for entering into this Agreement and, but for same, would not have
entered into this Agreement.
K. Tbis Agreement maybe executed in any number of counterparts, each of which shall be deemed
an original and constitute one and the same instrument. A facsimile signature will also be deemed
to constitute an original if properly executed.
L. The individuals executing this Agreement on behalf of the respective parties below represent to
each other that all appropriate and necessary action has been taken to authorize the individual who
is executing this Agreement to do so for and on behalf of the party for which their signature
appears, that there are no other parties or entities required to execute this Agreement in order for
the same to be an authorized and binding agreement on the party for whom the individual is signing
this Agreement and that each individual affixing their signature hereto is authorized to do so, and
such authorization is valid and effective on the Effective Date of this Agreement.
M. This Agreement is not assignable.
N. Each signatory represents this Agreement has been read by the party for which this Agreement
is executed and that such party has had the opportunity to confer with its counsel.
O. In case any one or more of the provisions contained in this Agreement shall for any reason be
held to be invalid, illegal or unenforceable in any respect, such invalidity, illegality, or
unenforceability shall not affect any other provision thereof, and this Agreement shall be construed
as is such invalid, illegal, or unenforceability provision had never been contained herein.
P. All warranties, representations and covenants made by one party to the other in this Agreement
or in any certificate or other instrument delivered by one party to the other under this Agreement
shall be considered to have been relied upon by the other party and will survive the satisfaction of
any fees under this Agreement, regardless of any investigation made.
Q. This Agreement shall be deemed drafted equally by the parties hereto. The language of all parts
of this Agreement shall be construed as a whole according to its fair meaning, and any presumption
or principle that the language herein is to be construed against either party shall not apply.
The AEDC/ACDC and Funderburgh have executed this Agreement on the day and year first
above -written.
[Remainder of page left blank intentionally]
AGREEMENT FOR PROFESSIONAL SERVICES Page 5 of 11
ANNA ECONOMIC DEVELOPMENT CORPORATION
By kaA
4onstance Ann Stump, its Pr sident
Date: nO 11 ao/l
STATE OF TEXAS
COUNTY OF COLLIN
Before me, the undersigned authority, on this day personally appeared CONSTANCE
ANN STUMP, known to me to be one of the persons whose names are subscribed to the
foregoing instrument; she acknowledged to me that she is the duly authorized representative
of and for the ANNA ECONOMIC DEVELOPMENT CORPORATION, a Texas Type A
development corporation, and she executed the said instrument for the purposes and
consideration therein expressed and in the capacity therein stated.
Given under my hand and seal of office this 2 hAday of , 2017.
ae�Y�� LaurettaKayBlacketer � � � J���Ci.J �/'�
i\�1� 04/0112011 on Exprea O `"'"" "" ^nJ
Not y Public in and for the ate of exas
My Commission Expires: tj
AGREEMENT FOR PROFESSIONAL SERVICES Page 6 of
ANNA COMMUNITY DEVELOPMENT CORPORATION
By:
Y
AlorE feU deli farrt ek, is President
Date: ,? 1 q 117
STATE OF TEXAS
COUNTY OF COLLIN
g �V.. IAURETTAKAYBLACKETER
My Notary ID # 129369379
€' Expires April 112021
A!9a'� nuu�
Before me, the undersigned authority, on this day personally appeared
known to me to be one of the persons whose names are subscribed to the foregoing
instrument; he acknowledged to me that he is the duly authorized representative of and for
the ANNA COMMUNITY DEVELOPMENT CORPORATION, a Texas Type B development
corporation, and he executed the said instrument for the purposes and consideration therein
expressed and in the capacity therein stated.
Given under my hand and seal of office this �Lday of _> 2017q
r/
otary Public in an forth State Texas
My Commission Expires: 4 _ I .- o2d a
AGREEMENT FOR PROFESSIONAL SERVICES Page 7 oI 1 1
DAVID D. FUNDERBURGH REAL ESTATE INVESTMENTS, INC., A TEXAS
CORPORATION D/B/A FUNDERBURGH REALTY
By:
David D. Funderburgh, itkPfesident
Date:
STATE OF TEXAS
C IJNTY OF
flt;tflas
Before me, the undersigned authority. on this day personally appeared
David D. Funderburgh, known to me to be one of the persons whose names are
subscribed to the foregoing instrument; he acknowledged to me that he is the duty
authorized representative of and for DAVID D. FUNDERBURGH REAL ESTATE
INVESTMENTS, INC,, A TEXAS CORPORATION D/B/A FUNDERBURGH
REALTY, a Texas corporation, and he executed the said instrument for the purposes
and consideration therein expressed and in the capacity therein stated.
Given under my hand and seal of office this ISfi day of �bruaru,_, 2017
��i""�`. txwcRnwwRo
gy : MY COMMISSION EXPIRES
4V:1, 208
t,
Notary Public in an or the State of Texas
My Commission Expires: %///Jy
EXHIBIT'A'
SURVEY DESCRIPTION:
BEING a portion of a tract of land located in the D.E.W. Babb Survey, Abstract Number
33, situated in Collin County, Texas and being a portion of a 361.545 acre tract of
land described by deed to Harlan Properties, Inc. recorded in Instrument No.
20121228001650300 of the Official Public Records of Collin County, Texas, and being
more particularly described by metes and bounds as follows;
BEGINNING at a 1/2 inch iron rod found for the northwest corner of said 361,545 acre
tract lying on the northerly edge of County Road No. 421 a gravel road, also lying on
the easterly line of a tract of land described by deed to Dallas Area Rapid Transit,
recorded in Collin County Clerks Document No. 2001-0078323 of the Official Public
Records of Collin County, Texas, the southwest corner of tract of land described by
deed to 40 PGE, Ltd., recorded in Volume 5387, Page 468 of the Deed Records of Collin
County, Texas, also lying on the common line of said D.E.W. Babb Survey and the
Grandison Stark Survey, Abstract No. 798;
THENCE South 89 degrees 11 minutes 36 seconds East, along the common line of said
Babb and Stark Survey, also along the common line of said 361,545 acre tract and said
40 PGE tract, a distance of 1743.74 feet to a 5/8 inch iron rod with cap stamped
"R.P.L.S. 5430" set for corner lying in the center of a 30 feet wide Sanitary Sewer
easement, recorded in instrument No. 20150422000453060 of the Official Public Records
of Collin County, Texas;
THENCE through the interior of said 361.545 acre tract along the center of said 30
feet wide easement the following courses and distances:
South 11 degrees 33 minutes 57 seconds East, a distance of 61.78 feet to a 5/8 inch
iron rod with cap stamped "R.P.L.S. 5430" set for corner;
South 00 degree 48 minutes 25 seconds West, a distance of 1346.23 feet to a 5/8 inch
iron rod with cap stamped "R.P.L.S. 5430" set for corner;
South 55 degrees 24 minutes 07 seconds East, a distance of 316.51 feet to a 5/8 inch
iron rod with cap stamped "R.P.L.S. 5430" set for corner;
South 00 degrees 55 minutes 19 seconds West, a distance of 224.46 feet to a 5/8 inch
iron rod with cap stamped "R.P.L.S. 5430" set lying on the north line of Collin
County Toll Road Authority tract recorded in Instrument No. 20110222000194360 of the
Official Public Records of Collin County, Texas;
THENCE North 89-degrees 04 minutes 41 seconds West, along the north line of said
Collin County Toll Road tract, a distance of 2530.22 feet to a 1/2 inch iron rod with
cap stamped "R.P.L.S. 3700" found for the southwest corner of said 361,545 acre
tract, also lying on the east line of Collin County Toll Road Authority tract
recorded in Instrument No. 20090317000307070 of the Official Public Records of Collin
County, Texas;
THENCE North 00 degrees 44 minutes 35 seconds West, along the east line of last
mentioned Toll Road tract, a distance of 207.51 feet to a 5/8 inch iron rod with cap
stamped "R.P.L.S. 5430" set lying on the easterly line of the aforementioned Dallas
AGREEMENT FOR PROFESSIONAL SERVICES Yage Y of 1 1
Area Rapid Transit tract;
THENCE North 18 degrees 44 minutes 49 seconds East, along the easterly line of said
Dallas Area Rapid Transit tract, a distance of 38.85 feet to a 5/8 inch iron rod with
cap stamped "R.P.L.S. 5430" set for the southwest corner of a tract of land described
by deed to the City of Anna recorded in Instrument No. 20071004001376120 of the
Official Public Records of Collin County, Texas;
THENCE South 77 degrees 31 minutes 27 seconds East, along the south line of said City
of Anna tract, a distance of 67.89 feet to a 1/2 inch iron rod with cap stamped
"R.P.L.S. 3700" found for corner;
THENCE South 89 degrees 2S minutes 19 seconds East, continuing along the south line
of said City of Anna tract, a distance of 224.62 feet to a 1/2 inch iron rod with cap
stamped "R.P.L.S. 3700" found for the southeast corner of same;
THENCE North 18 degrees 43 minutes 54 seconds East, along the east line of said City
of Anna tract, a distance of 156.81 feet to a 1/2 inch iron rod found for the
northeast corner of same;
THENCE North 89 degrees 24 minutes 49 seconds West, along the north line of said City
of Anna tract, a distance of 295.59 feet to a 5/8 inch iron rod with cap stamped
"R.P.L.S. 5430" set for the northwest corner of same, also lying on the easterly line
of said Dallas Area Rapid Transit tract;
THENCE North 18 degrees 44 minutes 49 seconds East, along the easterly line of said
Dallas Area Rapid Transit tract, a distance of 1495.06 feet to the POINT OF BEGINNING
containing 3,727,460 square Feet, or 85.571 acres of land.
AGREEMENT FOR PROFESSIONAL SERVICES Page 10 of 11
Attach Exhibits B and C
AGREEMENT FOR PROFESSIONAL SERVICES Page I1 of 11
(�K"/� 13
FUNDERBURGH REALTY CORPORATION
COMMERCIAL REAL ESTATE SERVICES
February 15, 2017
Jessica Perkins
Assistant to City Manager and Economic Development Officer
ANNA ECONOMIC DEVELOPMENT CORPORATION
111 North Powell Parkway
Anna, Texas 75409
Re: Proposed Anna Business Pm•k
Anna, Collin County, Texas
PROJECT MANAGEMENT AGREEMENT
Dear Jessica:
Thank you for the opportunity to continue to assist you with the development of your proposed
Anna Business Park property. We are grateful for your confidence in allowing us to pursue this
assignment.
Essentially, our role will be that as your Project Manager, to facilitate the real estate
development process, organize the activities of the various participants, anticipate scheduling
matters and guide the park to successful completion. As you have previously experienced, we
will bring matters to you and your board to make decisions; then we will implement and execute
at your direction.
In continuation of the assistance that we have been providing you, we will:
• Provide coordination with the various municipal, design, engineering and construction
professionals.
• Assist you in preparing budget and economic information/projections.
• Support the development process and remain proactive in offering value engineering
suggestions.
• Assist you and your legal counsel with negotiating anticipated property transfers/sales,
municipal platting and general real estate related documentation matters.
• Participate in the selection of consultants/vendors/contractors along with the evaluation
of bids/proposals received.
• Monitor construction progress and conduct periodic meetings with the contractor(s) and
related parties.
• Interface with you and your lender to facilitate an efficient construction draw process.
• Assist you in the marketing, negotiation and generating of proposals to attract and secure
new businesses for the park (first four [4] prospects).
• Provide quarterly activity reports and/or periodically meet with and apprise the AEDC
board of the project status.
9535
EORLST
LANE
SUITE
20G
DALLAS.
TEXAS
75243
f972)
231-I000
EAX
(972)
G71-4242
February 15, 2017
Proposed Anna Business Park
c% Jessica Perkins
The term of our engagement for these various services wi11 be twenty-four (24) months from the
date this letter agreement is executed.
In consideration of these activities, our professional service fees (the "Fees") to assist you in this
process will be $140,000. If the scope of work significantly exceeds the description provided in
this agreement and as further detailed in the preliminary budget attached as Exhibit A, additional
compensation may be requested. At the time this letter agreement is executed we would like to
receive $7,000 of our Fees as a retainer. The remainder of our Fees will be earned and invoiced
in (i) January, 2018 ($66,500) with the (ii) final amount in January, 2019 ($66,500).
If the AEDC sells, assigns or otherwise transfers the Park, the AEDC will remain liable for any
outstanding earned yet unpaid Fees due to us pursuant to this agreement. The right to receive
earned but yet unpaid Fees shall inure to the benefit of any successors, assignees or beneficiaries
of our firm.
If the foregoing is consistent with your understanding of our agreement please execute one copy
of this letter returning same to the undersigned and retain a copy for your records. Agairy we
sincerely appreciate your consideration in allowing us to be of service; it will be our privilege to
serve the AEDC and the City of Anna in these matters.
Very truly yours,
FUNDERBUROH REALTY CORPORATION
AGREED AND ACCEPTED:
Aana Economic Development Corporation
i
By: Jessy'�ti J �vLinS
It's:
9535
FOREST
LANE
SUITE
206
DALLAS.
TEXAS
75243
•(972)
231-1000
-Xhl 614 G
Anna Business Park
ANNA,TEXAS
PRELIMINARY DEVELOPMENT BUDGET
]irert Cc
Projeeled Cost
Prevloust�r Funded
Balance
Land Acquisition (Approx. 85.6 gross acres)
$
2,810,000
$ 21810,000
$
-
General Grading/Lot Clearing/Shaping (inc. w/ Street)
$
-
$ -
$
'
1100' Street and Storm Drainage Conant. (ine.15% coming.)
$
74%713
$ -
$
74%713
Water Line Consm. (me. 15% conting./excludes Fire Hydrants)
$
2482000
$ -
$
2487000
Sanitary Sewer Line Consm. (me. 15%coming.)
$
55,236
$ -
$
553236
Off -Site Utility Extensions
$
-
$
$
"
Entry Monument Feature/Flagpoles
$
307000
$ -
$
30,000
Entry Landscaping/Irrigation (Desiga/Build)
$
15,000
$ -
$
155000
Direct Costs Subtotal:
$
3,9079949
S 21810,000
$
15097,949
xct Cr
Architectural Layout Design Fees
$
IO,OOD
$
-
$
1Q,000
Entry Monument Feature/Flagpoles Design Fees
$
55000
$
-
$
59000
Covenants, Conditions and Restrictions (CC&Ws)
$
42000
$
4,000
$
-
Marketing / Website / Promotional Materials
$
12,000
$
-
$
12,000
Civil Engineering Fees:
$
$
-
Off -Site Civil Design
$
-
$
$
"
Street and Storm Drainage Design
$
112,457
$
-
$
1125457
Water Line Design
$
309093
$
-
$
305093
Sanitary Sewer Design
$
11,047
$
-
$
11,047
Boundary, Topographic and Tree Surveys
$
12,000
$
123000
$
-
Property Sales Commissions (Prospects' Representatives)
$
50,000
$
-
$
503000
County Driveway PermiVrraffic Impact Analysis
$
-
$
-
$
'
Site Feasibility Study
$
36,500
$
36,500
$
-
Environmental Study
$
750
$
750
$
-
Geotechnical Analysis & Report
$
3,322
$
33322
$
Test Laboratory
$
255139
$
-
$
253139
Title Policy Premium
$
M$
$
-
Insurance Premiums
$
$
$
'
Legal Fees
$
$
$
-
Appraisal (for Lender) Fee
$
800
$
800
$
-
Roll Back Taxes (Not anticipated)
$
-
$
$
"
Bond Costs:
Discount Fees
$
422532
$
42,532
$
-
Surety Policy Premium & Fees
$
17,181
$
172181
$
-
Bond Financing Fees & Paying Agent Fee
$
80,287
$
80,287
$
-
Bond Debt Service Reserve Fund
$
199,000
$
-
$
1992000
Development Project Management
3 %
$
140,000
$
-
$
140,000
Inspecting Consultant Fee (for Lender)
$
1,500
$
-
$
L500
Mise. Land Closing Costs
$
404
$
404
$
-
Indirect Costs Subtotal:
Subtotal Development Costs:
Plus Project Contingency
Total Estlnrated Protect Cosf:
�urces of Func
$
794,012
$
197,776
$
1415059
$ 4,843,020 $ 3,007,776
$
596,236
AEDC Due Diligence Payments Prior to Property Closing
Commercial
$
103,372
$
103,372
$
-
AEDC Contribution
$
725,000
$
725,000
$
-
ACDC Contribution
0000-
Principal Amount of Bonds
$
12850,000
$
1,8509000
$
-
Reimbursements from Park Users:
Kirby -Smith
$
110125309
$
-
$
1,0122309
Total Funds Available:
$
45065,681
S
39053,372
$
1,012,309
Surplas/O{gglf OURGH
RE(aTN339)
$453596
(822,935)
Real Estate Services
2/2/2017
THE CITY OF
AGENDA ITEM:
Item No. 6
CDC Agenda
Staff Report
Meeting Date: 4.4.2019
Staff Contact: Joey Grisham
Consider/Discuss/Act on a Resolution entering into a contract for real estate services for
the Anna Business Park and authorizing the Board President to execute all necessary
documents on behalf of the Corporation.
SUMMARY:
As we discussed earlier, the CDC/EDC entered into a contract with Funderburgh Real Estate
Group for real estate services related to the Anna Business Park. Now that we have moved on
from that contract, it is important to begin working with an established real estate firm that will
market the property aggressively and advise us on issues like signage, marketing, and
other issues related the Business Park. The staff met with or spoke extensively with over ten
firms that focused heavily on industrial projects.
After a thorough search, many phone calls/one-on-one conversations, and evaluating
multiple proposals, we narrowed the search down to two very reputable firms, NAI Robert
Lynn and Carey Cox Real Estate. Tonight you will be hearing a presentation from Dave
Peterson with NAI Robert Lynn.
STAFF RECOMMENDATION:
Staff recommends that no action be taken tonight on this item.
ATTACHMENTS:
1. Proposal
or
Ellis—ammew
110 - �
x _ i
ni
THE CITY OF
manna
NAIRobert Lynn
Table of Contents
• Case Studies
• Project Team and Project Team Support
• NAI Facts
• Challenge - Street Knowledge
• Competitive Set
• Skillful Representation
• The Process / The Vision
• Our Preliminary Counsel to You
• Final Thoughts
• Additional Services
NAI Global is the largest network of
commercial real estate brokers in the
world.
NAI has more offices worldwide than
any other real estate organization with
400 offices around the globe.
"At Hillwood we have found NAI Robert
Lynn agents to be excellent brokers while
having high professional standards and
ethics."
ROSS PEROT JR., CHAIRMAN
R I H I LLWOOD
A PEROT COMPANY'
2 IYARobert Lynn
Case Studies
Need Date Square Submarket Results
Footage
'LProject L in Assignment 2 11-Pr nt 1 2 7 Plano Garland Represent Prologis on multiple projects in Plano and Garland for space ranging in
easing0 -Present 8 ,000 a o & Ga a d size from 7,500 to 127,000 SE Have kept occupancy at 97% since 2012.
PROLOGIS'"
FIRST Represent First Industrial on multiple projects in Plano and Garland for space ranging
INDUSTRIAL Project Leasing Assignment 2010-Present 652,000 Plano &Garland in size from 8,000 SF to 130,000 SF.
r L
REALTY -TRUST
CO)COREProject Leasing Assignment 2018-Present 1,365,000 Carrollton & Represent CORE5 on two projects. The first preleased 400,000 SF of 750,000 SF
5 South Dallas building and then preleased two buildings totalling 615,000 SF prior to completion.
Worked with original developers, Seefried, and 3 subsequent owners on initial lease
up and all leasing since. Currently 29 tenants ranging from 8,000-126,000 SE
EASTGROUP Project Leasing Assignment 1998-Present 800,000 Grapevine Have kept occupancy at 100% since 2013, with no vacancy lasting more than 6
months.
■f)al fpn � Project Leasing Assignment 2010-2016 202,000 Garland Represented Dalfen on leasing of two building project in Garland. Worked with Dal -
I N o u s T R I A L fen to take occupancy from 20 /o to 100 /o in a two year time frame.
Garland, Grapevine, Represent IDI Logistics on multiple new development projects as well as second
IDI Logistics Project Leasing Assignment 2015-Present 2,500,000 Fort Worth generation buildings for multiple transactions ranging in size from 60,000 SF to
500,000 SE
STOCKBRIDGE Project Leasing Assignment 2009-Present 555,000 Mesquite Represent Stockbridge on three building project in Mesquite for space ranging in
REAL ESTATE FUND, LP 1 g g q size from 6,500 SF - 145,000 SF Have kept occupancy at 95% since 2018.
THE CITY OF 3
Anna
Project Team
Dave Peterson
Executive Vice President
Role Project Leader I Day-to-day Contact
Responsibilities
• Negotiation Strategy
• Market Intelligence
• Negotiation & Analysis
• Direct Contact with Brokers and Prospective Tenants
Years of Experience 14
Experience
• Considered as one of the top agents in Richardson, Plano,
Allen and McKinney for his market knowledge, experience
and transaction history
• Completed over 4,500,000 SF of leases in 2014-2018 (last
five years)
Rick Medinis, SIOR
Principal I President, Industrial Division
Role Marketing to Institutions, developers & national users
Responsibilities
• Direct contact with developers & institutions
• Strategy, exposure & energy
• Negotiation & Coordination
Years of Experience 25+
Experience
• President of NAI Robert Lynn's Industrial Division
• SIOR, Industrial Specialist since 2003
- North Texas Chapter Board of Directors 2008-2016
- Chapter President 2013
• Valwood Improvement Authority
- Board of Directors 2013-2016
- Treasurer 2016
• Has leased or sold over 75,000,000 SF of Industrial space
4 IMAIRobert Lynn
Project Team Support
4
*Chad Albert, SIOR Robert Blankinship *Stephen Cooper, SIOR *Matt Elliott Patrick Embry *Tyson Erwin, SIOR Jim Hancock, cciM, cPM
Executive Vice President Executive Vice President Executive Vice President Executive Vice President Market Director President, Industrial Division Senior Vice President
A
,
i
*Todd Hubbard, SIOR Jeff Jackson *Rick Medinis, SIOR Becky Miller *Mark Miller, SIOR Michael Newsome Dave Peterson
President, Fort Worth Analyst President, Industrial Division Market Director President Executive Vice President Executive Vice President
Aa-
Jesse Pruitt Lori Ramos Bob Spletter *Michael Stanzel, SIOR Jim Svidron Tyler Tillery
Executive Vice President Associate Senior Vice President Executive Vice President Senior Vice President Market Director
* Principal at NAI Robert Lynn
THE CITY OF
Anna
NAI Overview
People who know us, trust us.
Global Prominence...
Local Dominance...
Is 400 Offices • 57 Years in Business - Founded in 1962
• 36,000 Transactions Completed • 50+ Million Square Feet of Transactions Annually
• Billions in Annual Transaction Volume • 1000+ Transactions Annually
• 39 Countries Around the Globe • 6+ Million Square Feet of Sales Transactions Annually
• Ranked 2nd Industry -Wide of Brokerage Firms By Commercial • 60 Agents, 14 SIOR and CCIM designees
Property News
• 85 Employees
• 7,000+ Professionals Worldwide
• $884 Million Annual Transaction Volume
• 425,000,000 Square Feet Under Management
• 19+ Million Square Feet Under Leasing &Management
IYAIGIobal
NAIRobert Lynn
"We have completed 100's of deals with NAI and found the NAI brokers from all around the United
States to be knowledgeable, professional and exceptionally capable when it comes to �6
representing their clients and getting a deal done." Duke
p g g g REALTY
JEFF TURNER, EXECUTIVE VICE PRESIDENT
6 IYARobert Lynn
Countries
Ki
1100.1
Global Offices
ZQOMQM
Professionals
A!A*
eqodm
U . S . Locations
THE CITY OF 7
Anna
Challenge
Finding Tenants
Facts
• Great positive momentum on heels of new
development in the area
• Local population growing
• Market remains strong
• Identifying potential prospects
• Energizing the park
Solution
NAI Robert Lynn Professional Standard
• Know every tenant, landlord, competing property and
completed transaction in the market
• Become known as the submarket expert
• Dominate the submarket
• Know every transaction before it happens
Typical NAI Robert Lynn Professional
• Current clientele: actively advising 50-65 businesses
• Near term assignments: we will be staying close to
another 50-60 requirements that should lead to action
in 12-18 month window
"WITHOUT TRUE MARKET SPECIALIZATION, A SELLER WILL NOT SEE ALL
OPPORTUNITIES OUT THERE! "
8 N/AlRobert Lynn
Street Knowledge
How Deep Market Intel Makes a Difference
Understanding the Key
Economic Variables
• Knowing the incentives available at various sites
• Understanding where demand is coming from
• Comprehensive database of every industrial tenant in DFW
Understanding the Key Intangibles
• Building types / layouts
• Understanding the competition
• City tax rates - varies from municipality
• Access to labor
• Access to customers
"NAI Robert Lynn's deep market knowledge
looked way beyond just rental rates and led us
to the best option for our company."
BILL E., CARS.COM, VICE PRESIDENT
THE CITY OF
Anna
Er
Competitive Set
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1 o IMAIRobert Lynn
Parc Northwest
Leasing Team H = 0 M MLUNSFOR L
�
Available SF 434,640
Asking Rates $5.95-$6.95 N + $2.50 Opex
T. 1. $8.00/SF
Divisibility 18,000 SF
7 5/Wilmeth & McKinney
Leasing Team CBRE
Available SF 202,000
Asking Rates $5.95 N + $1.76 Opex
T I. $6.00/SF
Divisibility 37,000 SF
0
CORE 5 Business Center
Leasing Team C- -]CITADEL
Available SF 164,842
Asking Rates $7.50-$8.75 N + $3.00 Opex
T. 1. $13.00+$17.00/S F
Divisibility 17,000 SF
1..W
McKinney Five Industrial Park
Leasing Team t C I TA D E L
PARTNERS
Available SF 983,880
Asking Rates $3.95-$5.25 N + $1.50 Opex
T. I. $6.00-$10.00/SF
Divisibility 25,000 SF
McKinney Natl. Business Park
EE SL L
Leasing Team AssociATEs,
COMMERCIAL REAL ESTATE SERVICES
Available SF 550,000
Asking Rates $6.25-$6.50 N + $2.20 Opex
T. I. $6.50/SF
Divisibility 20,000 SF
THE CITY OF
Anna
11
Skillful Representation
Understanding How to Deal with Landlords
Select Developers...
• Cabot Properties
• Duke Realty Corp.
• Billingsley Company
• ING Clarion Partners
• Crow Holdings
• Ridge Development Co.
• Sealy & Company
• Champion Partners LTD
• Hillwood Properties
• Core 5
• Liberty Property Trust
• Luzzatto Company, Inc.
• Prologis
• TA Realty
• GLP
• Frontier Equity
• VDN Trust
We have negotiated with 95% of the industrial landlords in DFW
Since 2014 NAI
Robert Lynn
has completed
2628 separate
Industrial
transactions.
Since 2014 NAI
Robert Lynn
has completed
transactions with
1060 separate
Industrial building
landlords.
12 N/AIRobert Lynn
Addressing Key Questions of Anna Business Park
1. Population growth is a real opportunity
2. Completion of 1-75 & SH121 - game changer
3. Tenant demand is strong
4. Put Anna Business Park in front of them all
1. Quoted rates and T.1.'s
2. Space and deal structure -flexibility
3. Competition's quoted rates and T.1.'s
4. Competition's leasing activity -present and future
"NAI Robert Lynn has skillfully led my team
in the real estate decision process. The first
step - helping us create a real estate plan
that would support our strategic business
plan and address future growth."
KENT PRAT, TEXAS SW FLOORS, CEO
1. Service Centers sought out by e-commerce and
last -mile distributors
2. Population continuing to grow
3. Little competition in neighboring cities
4. Growing labor market
"The NAI Robert Lynn team took great care
in the beginning of the real estate process by
asking the right questions that challenged key
assumptions and made us think about our
needs in a unique and productive way."
MIKE THOMAS, DOVE LOGISTICS, CEO
THE CITY OF 13
Anna
The Process
Proactive
Marketing
Prospects /
Tours
Aggressive
Follow Up
C7
Close
Transactions
am
1 1 1 1
Developer/Investor Make all Information Thank Broker/Prospect Relentlessly chase
Institutional Easily Accessible for their Interest every prospect
0 0 V 0
Face to Face
Cold Calls
Broker
Calls
V
Internet
Strategy
Be Early & Prepared
for Every Tour
0
Professionally
Tour Prospect
Affirm/Support the Verbalize we want to
Tenant Rep earn their business
48 hour Rule to
Confirm Tours
48 hour Rule to
Follow-up After
Tours
Respond to RFP
within 3 days
V
48 hour Rule to Stay in
Contact with Prospects
V
Proactively Work
the Transaction
14 NAIRobert Lynn
The Vision
The Far Northeast Suburban market has seen tremendous population growth in recent
years and the demand for industrial space in this market has followed. This area is no
longer considered as a destination location for industrial users. Submarkets to the
south, such as Allen, Plano and Richardson are mostly built out and provide limited
options for tenants requiring industrial space. NAI Robert Lynn's team will ensure Anna
Business Park gets on the radar of every potential tenant looking for space in the
Northeast submarket. We are aggressively pursuing all tenants in the target square
foot range for the project that have leases expiring within the next 18 months.
We want to partner with you in creating the Vision.
Steps to create the vision:
1. Branding /Exposure
2. Signage
3. Direct, relentless contact with developers, REITS, Institutions
4. Ongoing broker blasts/direct marketing to top 50 brokers
5. Marketing/Broker event(s)
THE CITY OF
Anna
15
Market News...
Northeast DFW
Submarket
MARKET HIGHLIGHT: PLANO/FRISCO/MCKINNEY
INDUSTRIAL DEVELOPMENT ERUPTS OVERNIGHT IN PLANO, MCKINNEY
v
Dave
Peterson
Executive Vice President,
NAI Robert Lynn
While most of the Dallas/Fort
Worth (DFW) area has seen a boom
in industrial construction over the
past decade, the Plano and McKinney
submarkets have been relatively quiet
until recently.
Due to significant growth in resi-
dential development in the northeast-
ern side of the metroplex, e-commerce
and last -mile distribution users are in-
creasingly demanding space in these
areas. Consequently, these submar-
kets are no longer considered just a
home for technology -based tenants.
Several new projects, either under
construction or proposed, are focus-
ing on mid -size to large users of space.
Total combined vacancy rates in
these areas for flex and warehouse
product are now below 5 percent. The
average rental rate for flex product
is around $12.25 per square foot and
the average rate for warehouse space
is $6.36 per square foot. Although the
vacancy rate is as low as it has been in
the past five years, there is a tremen-
dous amount of activity and several
market transactions that are likely to
positively impact demand for specu-
lative industrial space.
While no transactions completed
at this time, there have been several
prospects working on proposals in
the 60,000-to 100,000-square-foot size
range in Plano and another prospect
looking to lease between 200,000 to
600,000 square feet in McKinney.
Based on these trends and transac-
tions, landlords and tenants should
expect rental rates for both flex and
warehouse product in Plano and
McKinney to steadily continue to rise
for the next two to three years.
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ENT
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This map shows some of the larger industrial projects and footprints located throughout the Plano -Frisco -McKinney area. The various
industrial submarkets of this region are beginning to see strong growth after years of minimal new development.
Submarket Basics
Plano's primary industrial submar-
ket lies just east and north of North
Central Expressway (U.S. Route 75)
and President George Bush Turnpike
(State Highway 190).
Less than 2 million square feet of
industrial space has been delivered
in Plano since 2010. But one new
project is slated to start construction
with two buildings, and a proposed
third building scheduled for an end
user.
Cores Business Center of Plano is
scheduled to break ground before
year's end and deliver the first new
speculative development in Plano in
almost 20 years. The three -building
park will total 259,882 square feet.
Due to low inventory levels in Pla-
no and being located in the northern
Dallas suburbs, this new develop-
ment will provide much needed re-
lief for mid -to -large -sized tenants.
Just north of Plano is McKinney, a
rapidly growing submarket that has
seen a significant influx of jobs and
people over the past several years.
One can see evidence of the fast ex-
pansion in the industrial real estate
market.
A great example of the trend in ac-
tion involves the former Blockbuster
building. The property was vacated
in 2013, and over the course of the
next 18 months, three tenants leased
the entire 700,000-square-foot ware-
house. The velocity behind the lease -
up process demonstrated the de-
mand in McKinney for large blocks
of warehouse space.
Project Pipeline
With only 90,000 square feet deliv-
ered over the past four quarters, sev-
eral developers have announced new
projects in McKinney that are either
underway or scheduled to break
ground by the end of 2018. More
than 650,000 square feet of new space
will be delivered within the next four
quarters and another 300,000 square
feet has been proposed.
In addition, plans have been laid
out for another 983,880 square feet at
McKinney Five Industrial Park, with
construction slated to begin in late
2018. The majority of the space is for
warehouse users; however, there are
also a couple of flex buildings that
Dallas -based Dalfen America Corp. is developing McKinney Fulfillment Center, a project that will be located across the street from a
Walmart Supercenter. The property is being developed on a speculative basis and is slated for a late 2018 completion.
20 •October 2018 •Texas Real Estate Business
are planned.
Construction on McKinney Indus-
trial Center is scheduled to begin in
the fourth quarter and will deliver
two buildings totaling 72,000 square
feet. These buildings will be oriented
toward flex users and will accommo-
date tenants in the 4,000-square-foot
range and up.
Two projects currently under
construction on the north end of
McKinney include 75 / Wilmeth at
McKinney and McKinney Fulfill-
ment Center. With total footprints
of 202,000 square feet and 115,176
square feet, respectively, these build-
ings will be marketed toward the
mid- to large -size tenants for this
submarket.
Finally, crews will break ground
this fall on McKinney National Busi-
ness Park, located near the McKin-
ney National Airport just off the
newly constructed FM 546. The
project currently calls for a total of
550,000 square feet with the first two
buildings spanning 75,000 square
feet each.
Concluding Thoughts
It has been many years since the
Plano and McKinney submarkets
have seen this type of speculative de-
velopment. With the current activity
level and demand, these projects are
well positioned to find tenants in the
short term.
While these two submarkets are
not developing the big box distribu-
tion centers that other submarkets
have seen recently, the relative size of
these facilities should not be a deter-
rent to users or a marketing concern
for developers. Further, rent growth
is likely to remain strong here.
As the DFW market grows and
develops, there is ample reason to
remain bullish on the Central Ex-
pressway Corridor as a desirable
submarket that will flourish along
with the rest of the metroplex.
www.REBusinessOnline.com
16
IYARobert Lynn
Final Thoughts
Why This NAI Robert Lynn Team
1) A Focused Strategy To Aggressively Market Anna Business Park
2) Unmatched Database of Tenants
3) Extensive Expertise In Industrial
4) Optimal Results thru Execution Strategic Economic Flexibility
THE CITY OF 17
Anna
Brokerage & Consulting Services
Traditional Transactional Services
• Acquisitions
• Dispositions
• Tenant Representation
• Owner/Landlord Representation
• Subleasing
• Renewal Negotiations
• Sale/Leaseback
• Build -To -Suit Transactions
• Design Build Transactions
• Portfolio Marketing
In The Following Divisions
• Office
• Industrial
• Retail
• Investment
• Land
• Call Center/Site Selection
• Corporate Services
In -House Services
• Property Management
• Portfolio Administration
• Market Reports
• Broker Price Opinion
• Advisory & Strategic Planning
• Tax Abatements
• Construction Management
• Merger & Acquisition Property Valuation
• Bankruptcy Property Valuation
• Lease Administration
• Asset Management
• Market Research including Demographics
& Mapping
• Online Transaction Management
(REALTracTM)
• Financial Analysis - Buy vs. Lease/Build
vs. Buy
• Employee Location Analysis
• Economic Development Incentive
Negotiations
Third Party Services
• Financial Services
• Space Planning
• Space Programming
• Racking Configuration Analysis
• Distribution Network Analysis
• Operating Expense Reconciliations & Collections
• Environmental Assessment
• ADA Assessment
• Site Location Modeling & Feasibility Analysis
• Fire Safety Assessment
• Furniture Consulting
• Insurance Valuations
• Relocation Management
• Plant, Machinery & Equipment Valuations
• Technology/Communications Solutions
• Lease Audits
• Space Measurement
• Tax Consulting/Cost Segregation
• Energy Audits
• Engineering Surveys
• NAFTA Advisory Services
• Property Tax Evaluation & Audit
• Sarbanes-Oxley Compliance
• Tax -Free (1031) Property Exchange
18 IYARobert Lynn
NAI Robert Lynn Cares
American ADOPTION 1
Cancer KNOWLEDGE
AFFILIATES T
6 A Big Brothers Big Sisters HEIDiE
BPLO T E R. L
HC
children'shealth7�
HOLY TRINITY
LSE L914
MEALSOWHEELS i
OLU KE'S
FASTBAEAKS
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Multiple Sclerosis
Society
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V'e u1 ko
TEXAS
Foundation
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t h e
Ronald McDonald Haus8bf Dallas �
council for life"
AL,-
St. Jude Childreris
Research Hospital
Alit[. • ]]. n.ar Thnm�., founder
Finding tarrc Saving [ididrex.
HOPE COTTAGE"
ftegnancy and AdDpaion Center
fi� GENESIS
WOMEN'S SHELTER & SUPPORT
$COTTISH BITE HOSPITAL
Dallas Alumnae Assix i atio-n of
KAPPA KAP P GAMMA
Qj? ET
SALESMANSHIP CLUB
OF DALLAS -
THE CITY OF 19
Anna
IYAlRobert Lynn
THE CITY OF
AGENDA ITEM:
Item No. 7
CDC Agenda
Staff Report
Meeting Date: 4.4.2019
Staff Contact: Joey Grisham
Director's Report
A. Ashley Stathatos transitioning to Planning Dept.
B. May meeting to be held on May 16tn
C. Report on current corporate financial status —Discussion Only
D. ICSC Update
E. Chamber Golf Tournament, May 6, 2019
F. Marketing materials/website update
G. Joint Meeting with Council
SUMMARY:
EDC Director will provide a report of the items listed above.
STAFF RECOMMENDATION:
ATTACHMENTS:
1. Financial Statements
CDC Balance Sheet
For Period Ending 02/28/19
Beginning Current Month Ending
Balance Activity YTD Activity Balance
10/1/2018 2/28/2019 2/28/2019
Assets
89-000-1010
Bank -Operating Funds
526,207.21
(183,593.91)
54,393.25
580,600.46
89-000-1012
Bank - Restricted Funds
18,762.61
27.52
144.20
18,906.81
89-000-1150
Accounts Receivable
-
-
-
-
89-000-1160
Accounts Receivable - Sales Tax
154,992.02
-
(154,992.02)
-
89-000-1202
Receivables - Due From General Fund
-
-
-
-
89-000-1215
Receivables- Local Business Loans
91,310,00
91,310.00
Total Assets
791,271.84
(183,566.39)
(100,454.57)
690,817.27
Liabilities
89-000-2001
Accounts Payable
9,124.87
-
57,375A3
66,500.00
89-000-2020
Federal W/H Tax Payable
322.46
-
(322.46)
-
89-000-2021
FICA Payable
381.34
-
(381.34)
-
89-000-2024
Flexible Spending Payable
-
-
-
-
89-000-2025
Deferred Compensation Payable
-
-
-
-
89-000-2026
TMRS Payable
-
15.58
(14.02)
(14.02)
89-000-2027
Health Insurance Payable
37.31
(49.65)
24.88
62.19
89-000-2029
Salaries Payable
1,246.20
-
(19246.20)
-
89-000-2102
Payable - Due To General Fund(10)
-
-
-
-
89-000-2115
Deferred Revenue - Local Business Loans
41,310.00
41,310.00
Total Liabilities
52,422.18
(34.07)
559435.99
107,858.17
Fund Balance
89-000-3711 Fund Balance 647,539.66
(183,532.32)
(155,890.56)
491,649.10
89-000-3711 Fund Balance -Restricted 91,310.00
91,310.00
Total Fund Balance 738*849.66
(1837532,32)
(155,890.56)
5829959.10
89-825-5225
89-825-5329
89-825-5499
89-825-5500
89-825-5530
89-825-5800
89-825-5840
89-825-5999
as-a25-stol
89-825-6114
89-825-6121
89-825-6125
89-825-6126
89-825-6127
89-825-6129
89-825-6208
89-825-6209
89-825-6210
89-825-6212
89-825-6700
89-825-6703
89-825-6710
89-825-6722
89-825-6731
89-825-6735
89-825-6753
89-825-6755
89-825-6756
89-825-0761
89-825-6783
89-825-6789
89-825-6790
89-825-6795
89-825-6799
89-825-6911
89-825-6912
89-825-6921
89-825-6931
89-825-6941
89-625-8900
89-825-9800
CDC Income Statement
For Period Ending 02/28/19
Current Month
Activity YTD Activity
2/28/2019
Revenues
Sales Tax Revenue - General 95,143.36 265,048.54
Donations - -
Miscellaneous Revenue - Grant Revenue - -
Inlerest Revenue 925.08 5,006.05
Transfers in - -
Bond Proceeds - -
Revolving Loan Revenue
Total Revenues 96,068.44 270,054.59
Expenses
Salarles
Payroll Taxes -City Part FICA
Health Insurance
TMRS Retirement
Unemployment
Workers Compensation
Miscellaneous Payroll
Office Supplies
Other Supplies - Misc.
Clothing Supplies
Postage
Economic Development Grant Expense
Contract Services
Travelrfraining Expense
Insurance - Property & Liability
Public Notices -Advertising
Promotion Expense
Legal Expense
Audit Expense
Engineering
use, Publications, Permits & Licenses
Telephones - Pagers
Debt -Service Principal
Interest Expense
and Fees
Other Services - Misc.
Machinery & Equipment
and Cost
Buildings & Improvements
Land & Improvements
Other Capital Expenditures
Other Financing Use - Debt Refundings
Transfers Out
5,157.52
23,900.52
394.55
1,933.67
2,341.50
3,122.00
730.35
2,572.23
- 115.95
100.00
- 25.00
227.18 650.83
13.40
- 72,140.00
875.91 2,454.42
24,000.00
1,343.38
270.00
750.00
210,000.90 zlo,oco.00
59,873.75 59,873.75
23,280.00
Total Expenses 279,600.76 425,945.15
Net Profit/Loss (183,532.32) (155,890.56)
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EDC Balance Sheet
For Period Ending 02/28/19
Beginning Current on Ending
Balance Activity YTD Activity Balance
10/1/2018 2/28/2019 2/28/2019
Assets
90-000-1010
Bank - Operating Funds
211,125.24
803.63 2,210.06
213,335.30
90-000-1011
Bank - Money Market & Savings Funds
-
-
-
-
90-000-1150
Accounts Receivable
948.00
- (948.00)
-
90-000-1160
Accounts Receivable - Sales Tax
-
-
-
-
90-000-1202
Receivables - Due From General Fund
-
-
-
-
90-000-1215
Receivables- Local Business Loans
91,927.00
(11000.00)
90,927.00
Total Assets
304,000.24
803.63 262.06
304,262.30
Liabilities
90-000-2001
Accounts Payable
317.97
- (317.97)
0.00
90-000-2005
Other Accounts Payable
200.00
- -
200.00
90-000-2102
Payable - Due To General Fund(10)
-
- -
-
90-000-2115
Deferred Revenue - Local Business Loans
91,927.00
- (11000.00)
90,927.00
90-000-2210
Retainage
-
- -
-
90-000-2735
2011 CO's Current
-
- -
-
90-000-2736
2011 CO's Non Current
Total Liabilities
92,444.97
(19317.97)
91,127.00
Fund Balance
90-000-3711 Fund Balance
211,555.27
803.63 1,580.03
213,135.30
Total Fund Balance
211,555.27
803.63 19680.03
2135135.30
EDC Income Statement
For Period Ending 02/28/19
Current Month
Activity YTD Activity
2/28/2019
Revenues
90-826-5225
Sales Tax Revenue - General
-
-
90-826-5360
Rental
1,996.00
7,535.00
90-826-5491
Gain on sales of Assets
-
-
90-826-5499
Miscellaneous Revenue
-
1,000.00
90-826-5530
Interest Revenue
310.86
1,627.22
90-826-5800
Transfers in
-
-
90-826-5853
Other Financial Source from Notes Payable
Total Revenues
2,306.86
10,162.22
Expenses
90-826-6208
Office Supplies
-
-
90-826-6209
Other Supplies - Misc.
181.07
316.62
90-826-6210
Clothing Supplies
-
-
90-826-6212
Postage
-
-
90-826-6303
Maint. & Repair - Buildings
-
765.47
90-826-6703
Contract Services
284.17
2,774.45
90-826-6708
IT Support Services
149.62
646.24
90-826-6710
Travelfrraining Expense
-
-
90-826-6722
Insurance - Property & Liability
-
954.88
90-826-6735
Promotion Expense
-
-
90-826-6753
Legal Expense
522.00
1,058.82
90-826-6755
Audit Expense
-
-
90-826-6756
Engineering
-
-
90-826-6761
Dues, Publications, Permits & Licenses
-
-
90-826-6780
Electricity
159.77
1,132.05
90-826-6781
Gas - Natural/Propane
114.88
405.98
90-826-6782
City Utilities Water/Sewerrrrash
91.72
527.68
90-826-6783
Telephones - Pagers
-
-
90-826-6789
Debt -Service Principal
-
-
90-826-6790
Interest Expense
-
-
90-826-6799
Other Services - Misc.
-
-
90-826-6931
Land & Improvements
-
-
90-826-6941
Other Capital Expenditures
-
-
90-826-9800
Transfer Out
-
-
Total Expenses
1,503.23
8,582.19
Net Income/Loss
803.63
1,580.03
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THE CITY OF
AGENDA ITEM:
CLOSED SESSION (exceptions):
Item No. 8
CDC Agenda
Staff Report
Meeting Date: 4.4.2019
Staff Contact: Joey Grisham
A. Deliberate regarding the purchase, exchange, lease or value of real property. (Tex. Gov't Code
§551.072) possible property acquisition; possible land sale/purchase;
B. Consult with legal counsel on matters in which the duty of the attorney to the governmental
body under the Texas Disciplinary Rules of Professional Conduct of the State Bar of Texas clearly
conflicts with Chapter 551 of the Government Code (Tex. Gov't Code §551.071); Discuss
contract concerning Revolving Loan Fund;
C. Discuss or deliberate Economic Development Negotiations:
(1) To discuss or deliberate regarding commercial or financial information that the Board of
Directors has received from a business prospect that the Board of Directors seeks to have locate,
stay, or expand in or near the territory of the City of Anna and with which the Board is conducting
economic development negotiations; or,
(2) To deliberate the offer of a financial or other incentive to a business prospect described by
subdivision (1). (Tex. Gov't Code §551.087) Anna Business Park Property; potential retail and
medical projects.
SUMMARY:
STAFF RECOMMENDATION:
ATTACHMENTS: