NOTICE OF REGULAR MEETING OF BOARD OF … Agendas/01-14... · Update on new design for the BEDC billboard at the corner of Hwy ... Building, and/or Potential acquisition, exchange,

BEDC Board Meeting Agenda 01/14/2013 1

NOTICE OF REGULAR MEETING OF BOARD OF DIRECTORS OF

BASTROP ECONOMIC DEVELOPMENT CORPORATION Monday, January 14, 2013 – 7:00 P.M.

903 Main Street, Bastrop, Texas

ANNOUNCEMENTS 1. Call to Order. 2. Public Comments [No discussion or action will occur beyond that allowed by State Open Meetings Laws] 3. Presentations 4. Announcements EXECUTIVE DIRECTOR’S INFORMATIONAL UPDATE REPORT: Items for update, discussion and possible action: A. Meetings, Events and Travel attended/upcoming: 1. Team Texas Site Consultants Forum, Austin, January 22-24 2. IEDC Leadership Conference, Orlando, January 26-29 3. TEDC Legislative Conference, Austin, February 27-March 1 B. Update on BEDC Projects and/or Business: 1. Main Street Program Update (Nancy Wood) 2. Update on new design for the BEDC billboard at the corner of Hwy 71 and Jackson Street 3. Update on Main Street Improvement Project and update on Bastrop Business & Industrial Park

Improvement Project 4. Update on BEDC Strategic Plan 5. Update on Construction Projects within City of Bastrop C. Inviting input from the Board of Directors related to issues for possible inclusion on future agendas,

related to (but not limited to) issues such as BEDC projects, property, economic development prospects, community events, and BEDC business.

* * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * The BEDC Board reserves the right to convene into Executive Session at any time during the meeting regarding any agenda item. In compliance with the Open Meetings Act, Chapter 551 Government Code, Vernon’s Texas Code, Annotated, the item below will be discussion in closed session: 1. Section 551.071 – Consultations with Attorney * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * A. CONSENT AGENDA All of the following items on the Consent Agenda are considered to be self-explanatory by the Bastrop Economic Development Corporation Board of Directors and will be enacted with one motion. There will be no discussion of these items unless a Board Member so requests. A.1 Approval of meeting minutes of November 19, 2012. B. PUBLIC HEARINGS B.1 Conduct a Public Hearing providing the general public with information concerning a request by Johnson Architectural Metal Company (JAMCo), potential purchaser of 11.3 acres +/- in the Bastrop Business & Industrial Park, that the BEDC Board of Directors consider approval of a variance to the “Restrictive Covenants” for the Business & Industrial Park, which would allow a change from the exterior façade materials provision and permit

01/11/2013 1

BEDC Board Meeting Agenda 01/14/2013 2

the use of metal siding on a proposed building. The hearing is open for a presentation from JAMCo, public input, and questions and discussion by the Bastrop Economic Development Corporation Board of Directors and staff. B.2 The Bastrop Economic Development Corporation Board of Directors will reconvene into regular session for consideration, discussion and possible action on JAMCo’s request for a variance to the BEDC’s Restrictive Covenants for construction in the Business & Industrial Park to allow use of metal siding on a building in the Industrial Park. C. OLD BUSINESS None. D. NEW BUSINESS D.1 Consideration, discussion and possible action on acceptance of the Bastrop Economic Development Corporation financial summary report for period ending December 31, 2012. D.2 Consideration, discussion and possible action on a request from Bryan Whitten for an extension on the mega-grant approved on July 18, 2011, for renovations to the building at 1106 Pecan Street. D.3 Consideration, discussion and possible action on request from KKG Bastrop Investments, LLC, for an eight (8) month extension on their agreement to build on property located in the Bastrop Business & Industrial Park. E. EXECUTIVE SESSION E.1 The Bastrop Economic Development Corporation Board of Directors will meet in a closed/executive session pursuant to the Texas Government Code, Chapter 551, Section 551.071(1)(A) and Section 551.071(2) (Consultations with Attorney), Section 551.072 (Deliberation about Real Property: Acquisition and/or Disposition of Property), and Section 551.087 (Deliberation Regarding Economic Development Negotiations).

1. Consultations with Attorney: (1) threatened and/or contemplated litigation, and (2) matters upon which the Attorney has a duty and/or responsibility to report to the governmental body.

2. Deliberation about Real Property – Project Polar Bear, JAMCo, Inc., Project Uncle, Former Bargas Building, and/or Potential acquisition, exchange, lease or valuation of real property.

3. Deliberation Regarding Economic Development Negotiations – Project Polar Bear, JAMCo, Inc., Project Uncle, Former Bargas Building, and/or BEDC Incentives Structure.

E.2 The Bastrop Economic Development Corporation Board of Directors will reconvene into open session to discuss, consider and/or take any action necessary related to the executive sessions noted herein, or regular agenda items, noted above, and/or related items. F. ADJOURNMENT

CERTIFICATE

I, Angela Ryan, Executive Assistant to the Bastrop Economic Development Corporation, certify that this Notice of Meeting was posted

on the front window of the Bastrop Economic Development Corporation offices, 903 Main Street, at the Bastrop City Hall, 1311

Chestnut Street, and on the Bastrop Economic Development Corporation website on this the 11th day of January 2013 at 5:00 p.m.

Copies of this agenda have been provided to those members of the media requesting such information.

Angela Ryan Angela Ryan, BEDC Executive Assistant

THE BASTROP ECONOMIC DEVELOPMENT CORPORATION IS COMMITTED TO COMPLIANCE WITH THE AMERICANS WITH DISABILITIES ACT. REASONABLE MODIFICATIONS AND EQUAL ACCESS WILL BE PROVIDED UPON REQUEST. PLEASE CALL 512-303-9700.

01/11/2013 2

City of Bastrop Update on Construction Projects as of 01/10/13

Construction in Process/Inspections

La Hacienda – 97% finished Lost Pines 8 (Movie) – 100% finished CO issued Paw Paws Catfish House (1014 Main Street) – 95% finished Glamour Nails & Spa (Centers of Woodland Village) – 99% Popeye’s – 40% - project stopped at this time Riverwood Commons (Senior Apartments) -10% Mattress Firm (Remodel moving to old Blockbusters) – 30% Gold and Silver Store (next to new Subway) – 100% CO issued 811 Main Street, Viejo’s Tacos & Tequila – demo 85% complete Ascension Catholic Church remodel to parish hall – 50% El Nuevo Mexican Restaurant on Childers – CO issued

01/11/2013 3

B.E.D.C.

BASTROP ECONOMIC DEVELOPMENT CORPORATION AGENDA ITEM _A1__

STANDARDIZED AGENDA RECOMMENDATION FORM

BEDC DATE SUBMITTED: January 10, 2013_

MEETING DATE: _ January 14, 2013_

1. Agenda Item: Approval of meeting minutes of November 19, 2012. 2. Party Making Request: Dave Quinn, BEDC Exec Director

3. Nature of Request: (Brief Overview) Attachments: Yes X No

Attached for your approval are the minutes from the 11/19/12 BEDC Board Meeting.

4. Policy Implication: ____________________________________________________________________

5. Budgeted: _________Yes __________No X N/A

Bid Amount: ________________ Budgeted Amount: _________________

Under Budget: _______________ Over Budget: _____________________

Amount Remaining: ________________

6. Alternate Option/Costs: ________________________________________________________________

7. Routing: NAME/TITLE INITIAL DATE CONCURRENCE

a) ________________________________________________________________________________

b) ________________________________________________________________________________

c) ________________________________________________________________________________

8. Staff Recommendation:

9. Advisory Board: _________Approved _________Disapproved ___________None

10. Manager’s Recommendation: __________Approved __________Disapproved __________None

11. Action Taken: _______________________________________________________________________

____________________________________________________________________________________

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DRAFT

11/19/12 BEDC Board Meeting Minutes Page 1 of 3

BASTROP ECONOMIC DEVELOPMENT CORPORATION BOARD OF DIRECTORS

Minutes of Monthly Meeting, November 19, 2012 903 Main Street, Bastrop, Texas

The Bastrop Economic Development Corporation (BEDC) met on Monday, November 19, 2012, at 7:00 p.m. in the BEDC Boardroom at 903 Main Street for the Regular Monthly Meeting. Board members present were: Chairman Steve Mills, Gary Schiff, Gary Gutierrez, Dr. Neil Gurwitz, Willie DeLaRosa, and Pat Crawford. Board member Terry Orr and Mike Talbot (ex-officio) were absent. Staff members present: Dave Quinn, Angela Ryan, and JC Brown, BEDC Attorney Others in attendance: Nancy Wood and Gene Kruppa. ANNOUNCEMENTS 1. Call to Order – Steve Mills, Chairman of the Board, called the meeting to order at 7:00 p.m. 2. Public Comments – None. 3. Presentations – None. 4. Announcements – None. EXECUTIVE DIRECTOR’S INFORMATIONAL UPDATE REPORT - Items for update, discussion and possible action: A. Meetings, Events and Travel attended/upcoming – Mr. Quinn stated a more complete list of

meetings and events was included in the Board Members’ packets under his report tab. The main ones are listed below.

1. Formula 1 – Mr. Quinn said the F1 event went well. The RV Parks and hotels were full.

He reported they had sold almost $8,000 worth of bus seats. Mr. Quinn said they had received positive feedback from people who had stayed in Bastrop for the F1 event. They liked the transportation to and from the racetrack, as well as the shuttle service to downtown. Mr. Quinn said Bastrop had received a lot of good news coverage from it, including an interview on Fox News the previous Friday.

2. December 17th Board Meeting – Mrs. Ryan said since the Board does not normally meet in December, she wanted to make sure the Board Members would be able to attend the regularly scheduled meeting on December 17.

3. 2013 BEDC Board Meeting dates – Mrs. Ryan stated she had compiled a list of the regular meeting dates for 2013 with possible conflicts, such as holidays, and the proposed alternate dates for the Board to consider.

4. Board absence letters and new meeting attendance form – Mrs. Ryan explained the City Council has requested all board, committee and task force members write a letter to the Council when they are unable to attend their scheduled meetings. Mrs. Ryan passed around the new attendance sheet for the Board Members to initial.

B. Update on BEDC Projects and/or Business: 1. Main Street Program Update (Nancy Wood) – Ms. Wood reported a new gift shop called

Veranda has opened at 815 Main Street. High Cotton is moving to 922 Main, and there is a new jeweler at 1001 Main. Ms. Wood said “Shop, Rock and Stroll” will be going on the

01/11/2013 5

DRAFT


next four weekends leading up to Christmas, with music at 921 Main Thursday through Sunday. Ms. Wood said there will be a “Cash Mob” held Saturday, November 24, at noon. Lost Pines Christmas weekend begins December 6, and there will be an event that night called Lost Pines Christmas Swirl, which is a wine tasting event. Ms. Wood reported the Convention Center won the award for best new construction at the Texas Downtown Association this year. Next year’s conference will be held in Bastrop.

2. Update on monument sign in Business & Industrial Park – Mr. Quinn reported he had spoken with Trey Job, the City of Bastrop Public Works Director, about the sign. Mr. Job said the Public Works Department would be able to repair the sign.

3. Update on new design for the BEDC billboard at the corner of Hwy 71 / Jackson Street – Mr. Quinn reported he had contracted with a design firm for the billboard, so that the design of it matches our other marketing materials.

4. Update on Industrial Park tenants’ adherence to BEDC Restrictive Covenants – Mr. Quinn reported he had met with the Art Foundry about the Board’s concerns regarding BEDC’s restrictive covenants, and the Art Foundry will be submitting a response.

5. Update on Main Street Improvement Project – Ms. Brown reported they have the draft easements and the letter to the property owners ready. Mr. Quinn stated Mr. Talbot is working on a news release and public hearing announcement.

C. Inviting input from the Board of Directors related to issues for possible inclusion on future agendas, related to (but not limited to) issues such as BEDC projects, property, economic development prospects, community events, and BEDC business. Mr. DeLaRosa suggested including the Main Street Improvement Project on next month’s agenda so the Board can get an update from the City Manager.

A. CONSENT AGENDA A.1 Approval of meeting minutes of October 15, 2012, Board Meeting. Mr. Schiff made the motion to approve the minutes as submitted, Mrs. Crawford seconded, and the motion passed. B. PUBLIC HEARINGS None. C. OLD BUSINESS C.1 Consideration, discussion and possible action on agreement with JAMCo regarding purchase of 11.3 +/- acres in the Business & Industrial Park. Mr. Mills stated he would like to simplify a proposal to JAMCo by laying out the general terms of the transaction in a Memorandum of Understanding (MOU). Ms. Brown said an MOU would make it clear to JAMCo the Board’s willingness to do the infrastructure improvements, and it makes a commitment on JAMCo’s part to build a facility. An MOU would allow us to move forward quickly and give us additional time to work out the details of the actual contract, such as the clawback language. C.2 Consideration, discussion and possible action on final approval for a mega-grant in the amount of $20,350, for renovations to the building at 706 Pine Street (i.e., Grace Miller Restaurant), owned by Brenda Bush. Ms. Wood reminded the Board they had given preliminary approval to the project in September. Ms. Bush has received an updated estimate in the amount of $81,400, and the mega-grant she is requesting is for 25% of that amount. Ms. Bush will be adding dining space as well as kitchen space to the business. Mr. Gutierrez made the motion to

01/11/2013 6

DRAFT


approve the mega-grant in the amount of $20,350 for renovations to the building at 706 Pine Street, Mr. Schiff seconded, and the motion passed. D. NEW BUSINESS D.1 Consideration, discussion and possible action on acceptance of the Bastrop Economic Development Corporation financial summary report for period ending October 31, 2012. Mr. Quinn reported at one month into Fiscal Year 2013, revenues are at 8.79% collected, or $130,610, compared to $112,011 for the same time last fiscal year. Expenditures are at 4.89%, or $72,745, compared to $102,750 last year. Mr. DeLaRosa made the motion to accept the financial report as submitted, Mrs. Crawford seconded, and the motion passed. D.2 Consideration, discussion and possible action on approval for a façade grant in the amount of $1,700.69 for renovations completed to the building at 1001 Main Street, owned by David Muralt. Ms. Wood reported that the Design Committee had sent a letter asking for consideration for a façade grant, for renovations already completed at 1001 Main Street. Ms. Wood explained the Board would need to make an exception to the façade grant policies to approve the project after it had already been completed. There was no vote taken due to the lack of a motion. E. EXECUTIVE SESSION – E.1 At 7:41 p.m., Mr. Mills convened the Bastrop Economic Development Corporation Board of Directors into a closed/executive session pursuant to the Texas Government Code, Chapter 551, Section 551.071(1)(A) and Section 551.071(2) (Consultations with Attorney), Section 551.072 (Deliberation about Real Property: Acquisition and/or Disposition of Property), and Section 551.087 (Deliberation Regarding Economic Development Negotiations) to discuss the following:

1. Consultations with Attorney: (1) threatened and/or contemplated litigation, and (2) matters upon which the Attorney has a duty and/or responsibility to report to the governmental body.

2. Deliberation about Real Property – Project Polar Bear, Project Red Truck, JAMCo, Inc., and/or Potential acquisition, exchange, lease or valuation of real property.

3. Deliberation Regarding Economic Development Negotiations – Project Polar Bear, Project Red Truck, Project Zen, JAMCo, Inc., and/or BEDC Incentives Structure.

E.2 The Bastrop Economic Development Corporation Board of Directors reconvened from Executive Session at 8:49 p.m. Mr. Schiff made the motion authorizing the bid from BEFCO Engineering for the Phase 3 Improvements, for the alternate plan to include the drainage on the western part of the property, and also include an alternate bid for the same item, for a total estimate of $861,000. Mrs. Crawford seconded, and the motion passed. Mr. Schiff made the motion authorizing Mr. Mills and Mr. Quinn to work with Ms. Brown on a Memorandum of Understanding (MOU) between JAMCo and the BEDC. Mr. Gutierrez seconded, and the motion passed. F. ADJOURNMENT – Gary Schiff moved to adjourn and Willie DeLaRosa seconded. The BEDC Board of Directors adjourned the meeting at 8:51 p.m.

01/11/2013 7

B.E.D.C.

BASTROP ECONOMIC DEVELOPMENT CORPORATION AGENDA ITEM B1__


BEDC DATE SUBMITTED: January 10, 2013

MEETING DATE: January 14, 2013

1. Agenda Item: Public Hearing: Conduct a Public Hearing providing the general public with

information concerning a request by Johnson Architectural Metal Company (JAMCo), potential purchase of 11.3 +/- acres in the Bastrop Business & Industrial Park, that the BEDC Board of Directors consider approval of a variance to the “Restrictive Covenants” for the Business & Industrial Park, which would allow a change from the exterior façade materials provision and permit the use of metal siding on a proposed building. 2. Party Making Request: Dave Quinn, BEDC Executive Director


Specifically, JAMCo is requesting consideration and approval by the BEDC Board of Directors of a variance

from the BEDC’s standard requiring that all exterior sides of buildings be ‘masonry or concrete’ type

materials and, rather, to allow the exterior of JAMCo’s building to be constructed of part masonry and part

metal siding. JAMCo’s written request for a variance and application are attached.


5. Budgeted: Yes No X N/A

Bid Amount: Budgeted Amount:

Under Budget: _______________ Over Budget: ___________ __________


6. Alternate Option/Costs:


a) ________________________________________________________________________________

b) ________________________________________________________________________________

c) ________________________________________________________________________________




11. Action Taken: _______________________________________________________________________

____________________________________________________________________________________

01/11/2013 8

NOTICE OF PUBLIC HEARING BASTROP ECONOMIC DEVELOPMENT CORPORATION

903 Main Street Monday, January 14, 2013

7:00 P.M. ______________________________________________________________________ The Bastrop Economic Development Corporation, a non-profit 4B industrial development corporation (the "BEDC"), established under Article 5190.6, Sec. 4B, of the Texas Revised Civil Statutes, et seq., will conduct a Public Hearing on Monday, January 14, 2013, beginning at 7:00 p.m. in the Bastrop EDC offices located at 903 Main Street, Bastrop, Texas, for the purpose of providing the general public with information concerning a request by Johnson Architectural Metal Company (JAMCo), potential purchaser of 11.3 +/- acres in the Bastrop Business & Industrial Park, that the BEDC Board of Directors consider approval of a variance to the Business and Industrial Park’s Restrictive Covenants, which would allow a change from the exterior façade materials provision. Specifically, JAMCo is requesting consideration and approval by the BEDC Directors of a variance from the BEDC’s standard requiring that all exterior sides of buildings be ‘masonry or concrete’ type materials and, rather, to allow the exterior of JAMCO’s building to be constructed of part masonry and part metal siding. For additional information please contact Dave Quinn, Executive Director of the Bastrop Economic Development Corporation, at (512) 303-9700, between the hours of 8:00 a.m. to 5:00 p.m. Monday through Friday. Any member of the public who is interested in JAMCO’s request for a variance to the BEDC’s Business and Industrial Park’s Restrictive Covenants is invited to attend the hearing and provide comment and input to the members of the BEDC Board, at that time. I, Angela Ryan, Executive Assistant of the Bastrop Economic Development Corporation, do hereby certify that this Notice of Public Hearings was posted on: (1) the bulletin board of the City Hall, 1311 Chestnut Street, Bastrop, Texas, (2) at the office of the BEDC, located at 903 Main Street, Bastrop, Texas, and/or (3) on the website of the BEDC at www.bastropedc.org, at places readily accessible to the general public at all times. Further, I certify that this Notice was published in the Bastrop Advertiser on January 12, 2013. Angela Ryan Angela Ryan

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B.E.D.C.

BASTROP ECONOMIC DEVELOPMENT CORPORATION AGENDA ITEM D1__


BEDC DATE SUBMITTED: January 11, 2013_

MEETING DATE: _ January 14, 2013_

1. Agenda Item: Consideration, discussion and possible action on acceptance of the Bastrop

Economic Development Corporation financial summary report for period ending December 31, 2012. 2. Party Making Request: Dave Quinn, BEDC Exec Director


Attached for your review and consideration is the BEDC preliminary financial summary report for the period

ending December 31, 2012.


5. Budgeted: _________Yes __________No X N/A






a) ________________________________________________________________________________

b) ________________________________________________________________________________

c) ________________________________________________________________________________




11. Action Taken: _______________________________________________________________________

____________________________________________________________________________________

01/11/2013 14

BASTROP ECONOMIC DEVELOPMENT CORPORATION

FINANCIAL SUMMARY

FOR PERIOD ENDING DECEMBER 31, 2012

01/11/2013 15

Bastrop Economic Development Corporation

Summary of Revenues and Expenditures

As of December 31, 2012

Fiscal year 2013 is 3 month or 25% complete as of December 31, 2012.

Revenues reflect 26.53% collected or $394,370. Revenues during this same time period last year reflected $357,389. Additional analysis concerning revenues are on the next two pages.

Expenses for the BEDC reflect 20.11% spent or $299,039. Expenses during this same time period last year reflected $341,425. Additional analysis concerning the expenses, year to year comparisons, and capital outlay is located within this report.

FY 2013

Budget

FY 2013

Actual

% of FY2013

Budget

FY 2013

Budget

FY 2013

Actual

% of FY2013

Budget

$ 1,486,700 $ 394,370 26.53% $ 1,486,700 $ 299,039 20.11%

Revenues Expenditures

01/11/2013 16

REVENUE: Sales Tax receipts represent 99.3% of the total budgeted revenue for the BEDC. As such, the line graph will be a good performance indicator as a comparison of sales tax receipts of the two previous fiscal years to the current fiscal year. Other revenue is included within the line graph to include Lease Income, Interest Income, and Miscellaneous Income.

Current revenues YTD of $394,370 are greater than the YTD figures for December 2011 of $357,389 by 10.3%.

Sales Tax Receipts YTD reflect $392,881 recognizing an increase of 10.5% over last years reported $355,461.

$50,000

$100,000

$150,000

$200,000

October November December January February March April May June July August September

Revenue All Sources

FY2013 Revenues $394,370 FY2012 Revenues YTD $357,389 FY2011 Revenues YTD $385,404

Line graph chart reflects monthly revenue incurred for three fiscal years. FY2011 includes October 1, 2010 thru September 30, 2011. FY2012 includes October 1, 2011 thru September 30, 2012. FY2013 reflects revenue received year-to-date for October 1, 2012 thru September 30, 2013. Data provided by City of Bastrop Finance Department records.

Summary of Revenues and Expenditures


01/11/2013 17

Sales Tax Revenue Chart


80,000

90,000

100,000

110,000

120,000

130,000

140,000

150,000

160,000

170,000

FY2013 FY2012 FY2011

FY2013 $129,839 $127,018 $136,024

FY2012 $111,464 $117,966 $126,031 $132,148 $161,493 $124,810 $125,875 $151,054 $133,729 $130,453 $150,123 $131,841

FY2011 $105,744 $114,313 $102,822 $106,337 $144,041 $93,460 $92,710 $134,669 $117,338 $110,271 $138,596 $100,663

October November December January February March April May June July August September

FY2013 Budget $1,476,050

FY2013 December YTD $392,881

* Date range in chart reflects current data of October 1, 2010 thru September 30, 2013. Data provided by City of Bastrop Finance Department records.

01/11/2013 18

Personnel Services,

$194,198

Supplies, $10,170

Maintenance, $4,000

Occupancy, $9,450

Contractual Services,

$215,500

Other, $512,825

Contingency, $9,791

Capital Outlay, $45,000

Debt Service, $366,186

Transfer Out to Main Street

Fund, $40,000

Industrial Park Maintenance,

$79,580

FY 2013 Budget FY2013 Expenses YTD – December

* Pie chart s reflect FY2013 adopted budget and fiscal year-to date expenses as of December 31, 2012. Data provided by City of Bastrop Finance Department records.

Personnel Services,

$44,549

Supplies, $909

Maintenance, $853 Occupancy,

$2,086

Contractual Services,

$38,245

Other, $83,213

Capital Outlay, $7,756

Debt Service, $91,534

Transfer Out to Main Street

Fund, $10,000

Industrial Park Maintenance,

$19,895 , $0

Expenditure Charts


01/11/2013 19

Expenditure Comparison Graph


EXPENSES: The line graph makes a comparison of the current fiscal year expenses to the last two fiscal year on a

monthly basis. The funds’ basic operations or fixed expenses should stay relatively flat or fixed on the line graph.

The debt service payments for FY2012 and FY2013 reflect a monthly accrual whereas the debt service payments

for FY2011are when the actual expenses were incurred.

$0

$50,000

$100,000

$150,000

$200,000

$250,000

$300,000

$350,000

$400,000

$450,000

Expenditures by Fiscal Year

FY2011 Expenses YTD$184,839



* Line graph chart reflects monthly expenses incurred for three fiscal years. FY2011 includes October 1, 2010 thru September 30, 2011. FY2012 includes October 1, 2011 thru September 30, 2012. FY2013 reflects year-to-date, October 1, 2012 thru September 30, 2013. Data provided by City of Bastrop Finance Department records.

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* The projected operating balance includes a $150,000 reduction for designated operating equity.

** In order to maintain a 25% or 90 day balance, the ending operating balance cannot be less than $607,504. The budgeted expenditures for the

Bastrop Economic Development Corporation can only increase $910,000 and the total budgeted expenditures may not exceed $2,396,700.

BASTROP ECONOMIC DEVELOPMENT CORPORATION FUND

FY 2012-2013 BUDGET

Projected Operating Balance 9-30-2012 $ 1,517,504*

FY 2012-2013

Budgeted Revenues $ 1,486,700

Total FY 2012 Resources $ 3,004,204

Budgeted Expenditures & $ (1,486,700)

Projected Ending Operating Balance 09-30-2013 $ 1,517,504**

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BEDC FINANCIAL STATEMENTS ATTACHED

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B.E.D.C.

BASTROP ECONOMIC DEVELOPMENT CORPORATION AGENDA ITEM D2__


BEDC DATE SUBMITTED: ___1/9/13_____

MEETING DATE: ______1/14/13_____

1. Agenda Item: _ Consideration, Discussion and Possible Action on completion deadline (currently

January, 2013) extension request for BEDC/Main Street Mega Grant Completed Application for 1106 Pecan Street, Interior and Exterior Renovation in the amount of $25,000 (total project estimate is

$119,324) which was approved in July 18, 2011 . 2. Party Making Request: ____Nancy Wood_________

3. Nature of Request: (Brief Overview) Attachments: Yes __X___ No ______

____Owner is requesting an extension to complete the project and submit investment for reimbursement per the current contract; in the attached request letter work to date has been outlined

and a request for a 6 month extension to complete remaining projects is stated. The original request

was stated as: “A full renovation/rehabilitation of this historic structure (cir. 1840) will allow it to be used for professional offices; it is located at the edge of the Central Business District. The project

includes leveling the building, repair/replacing all exterior rotted boards, replacing the front porch deck, upgrading electrical and plumbing, refinishing floors and replacing/upgrading landscaping. Total cost is

estimated to be 119,324 and they are requesting the maximum Mega Grant amount of $25,000; pre-

approval was granted by BEDC on December 20, 2010.”


5. Budgeted: _________Yes __________No ___________N/A






a) ________________________________________________________________________________

b) ________________________________________________________________________________

c) ________________________________________________________________________________

8. Staff Recommendation: Yes to the pre-application; Design Committee: Yes to the pre-application



11. Action Taken: _______________________________________________________________________

____________________________________________________________________________________

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B.E.D.C.

BASTROP ECONOMIC DEVELOPMENT CORPORATION AGENDA ITEM D3


BEDC DATE SUBMITTED: January 10, 2013

MEETING DATE: January 14, 2013

1. Agenda Item: Consideration, Discussion and Possible Action on request from KKG Bastrop

Investments, LLC, for an eight month extension on their agreement to build on property located in the Bastrop Business & Industrial Park. 2. Party Making Request: Dave Quinn, BEDC Executive Director


At the 11/17/08 Bastrop Economic Development Corporation Board Meeting, the BEDC Board of Directors

approved the sale of approximately 6 acres in the Bastrop Business & Industrial Park to KKG Bastrop

Investments, LLC. Closing on the property took place on 2/17/09. On 01/25/10, the BEDC Board of

Directors approved a one-year extension of the construction of the building required as part of the agreement

between the BEDC and KKG Bastrop Investments. On 01/23/12 the Board approved a one-year extension

making the deadline 02/17/13. Attached for review is the request for the extension and brief summary.


5. Budgeted: Yes No X N/A






a) ________________________________________________________________________________

b) ________________________________________________________________________________

c) ________________________________________________________________________________




11. Action Taken: _______________________________________________________________________

____________________________________________________________________________________

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KKG Bastrop Investments LLC 12/14/2012 Memo: From Mike Towns Re.: Bastrop Art Warehouse- Phase 1 Intersection of Jackson Street & Business Park drive Bastrop, Texas Gentlemen: We respectfully request an extension on our closing from December 31, 2012 to October 1, 2013. The following is the current estimated design, bid, and construction timeline for the Bastrop Industrial Park (based upon the requirements from the City of Bastrop):

1. Civil drawings- Gessner Engineering will complete the documents by December 21, 2012 2. Site Electrical Plan- MEP design proposals are due by December 12th

o Including all site lighting o Locations of all site electrical equipment o Electrical fixture cut sheets for all electrical site items o Must indicate the required site electrical loading

3. Site Landscape Plan- design proposal is due by December 12th

a. Landscaping and equipment screening to meet the City of Bastrop requirements.

4. Architectural Elevations of the Proposed Buildings- complete Estimated timeline;

1. Estimate that the site civil, MEP and landscape drawings will be ready for pricing by January 11, 2013.

2. The packages would go out to select general contractors on January 14th. 3. GC Bids would be due January 25th 4. Contract award February 8th 5. Start construction March 1, 2013 6. Construction Schedule- 7 months- October 1, 2013

Thanks! Mike Towns

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PROJECT TIMELINE On 02/17/09, KKG Bastrop Investments, LLC, paid the Bastrop Economic Development Corporation the sum of $30,702.08 ($45,844 sales price less $15,141.92 settlement charges), for the purchase of approximately six (6) acres in the Bastrop Business Industrial Park. The $30,702.08 was deposited into an escrow account at First National Bank. Summary of the performance agreement: Within two (2) years from the date of closing on the property, the buyer shall (1) construct a building upon the property containing a minimum of 20,000 square feet and /or a minimum value of $1,000,000 of fully enclosed usable space suitable for industrial use and shall obtain from the City of Bastrop a Certificate of Occupancy for the operation of an industrial business enterprise in the structure, and (2) buyer shall employ a minimum of two (2) full-time employees, who shall reside within 20 miles of Bastrop, Texas. Each position must have an average minimum wage of $25,000 per year. Two full-time employees shall work at the business enterprise which shall be located on the subject property and/or 930-932 Main Street and/or 603 Chestnut Street, Bastrop, Texas. Buyer shall continue to employ two full time employees. Key Dates: 11/17/08 Board approved execution of the contract, subject to the review of the clawback agreement 12/15/08 Clawback agreement was worked out and contract signed 02/17/09 Closing on the property 01/25/10 Board approved one year extension on building 01/23/12 BEDC Board approved one year extension, making the new deadline 02/17/13. 09/17/12 KKG requested a variance of the Restrictive Covenants concerning building materials.

Request for variance was not approved.

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Documents

NOTICE OF REGULAR MEETING OF BOARD OF … Agendas/01-14... · Update on new design for the BEDC billboard at the corner of Hwy ... Building, and/or Potential acquisition, exchange,