A. Regular Meeting Opening
Subject
1. Call to Order: The Board of Directors of the Economic Development Corporation of the City of Sachse will hold a Regular Meeting at 6 p.m. on Thursday, July 20, 2023, to consider the following items of business:
Meeting
Jul 20, 2023 - Economic Development Corporation Meeting
Type
Procedural
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A. Regular Meeting Opening
Subject
2. Invocation and Pledge of Allegiance to the U.S. and Texas Flags.
Meeting
Jul 20, 2023 - Economic Development Corporation Meeting
Type
Procedural
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B. Public Comment
Subject
1. The public is invited to address the Board regarding any topic not already on the agenda. The time limit is 3 minutes per speaker. A Public Comment Card should be presented to the acting secretary prior to the meeting. According to the Texas Open Meetings Act, the Board is prohibited from discussing any item not posted on the agenda but will take comments under advisement.
Meeting
Jul 20, 2023 - Economic Development Corporation Meeting
Type
Information, Procedural
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C. Consent Agenda - All items listed on the consent agenda will be considered by the Board and will be enacted on by one motion. There will be no separate discussion of these items unless a Board member so requests.
Subject
1. Approve the June 22, 2023, meeting minutes.
Meeting
Jul 20, 2023 - Economic Development Corporation Meeting
Type
Action (Consent), Minutes
Recommended Action
Approve the June 22, 2023, meeting minutes.
File Attachments
06.22.23 EDC Minutes.pdf (82 KB)
All items listed on the consent agenda will be considered by the Board and will be enacted by one motion. There will be no separate discussion of these items unless a Board member so requests.
Motion & Voting
Approve the Consent Agenda items 1 and 3.

Motion by Teddy Kinzer, second by Scott McMurdie.
Final Resolution: Motion Carries
Yes: Marcia Harris-Daniel, Teddy Kinzer, Mark Potter, Scott McMurdie, Jim Mason, Chinelo Nwanze
C. Consent Agenda - All items listed on the consent agenda will be considered by the Board and will be enacted on by one motion. There will be no separate discussion of these items unless a Board member so requests.
Subject
2. Accept the Quarterly Investment Report for the quarter ending March 31, 2023.
Meeting
Jul 20, 2023 - Economic Development Corporation Meeting
Type
Action, Discussion
Recommended Action
Accept the Quarterly Investment Report for the quarter ending March 31, 2023.

BACKGROUND

The Finance Department provides a Quarterly Investment Report to provide an overview of investment activity details for Checking, Money Market, Investment Pool, and Certificate of Deposit accounts. This same Quarterly Investment Report was accepted by City Council on June 5, 2023.

 

POLICY CONSIDERATION

Texas Government Code 2256.023 of the Public Funds Investment Act (PFIA) requires not less than quarterly, the investment officer prepare and submit a written report of investment transactions for all funds covered by the Investment Policy. The City's Investment Policy is to invest public funds in a manner which will provide the highest investment return with the maximum security while meeting the daily cash flow demands of Sachse and conforming to the PFIA and all other State and local statutes governing the investment of public funds.

 

RECOMMENDATION

Accept the Quarterly Investment Report for the quarter ending March 31, 2023.

File Attachments
Quarterly Investment Report FY 2023 Q2 2023.03.31.pdf (1,599 KB)
Motion & Voting
Approve the Consent Agenda.

Motion by Teddy Kinzer, second by Scott McMurdie.
Final Resolution: Motion Carries
Yes: Marcia Harris-Daniel, Teddy Kinzer, Mark Potter, Scott McMurdie, Jim Mason, Chinelo Nwanze
C. Consent Agenda - All items listed on the consent agenda will be considered by the Board and will be enacted on by one motion. There will be no separate discussion of these items unless a Board member so requests.
Subject
3. Approve the Consent Agenda.
Meeting
Jul 20, 2023 - Economic Development Corporation Meeting
Type
Action (Consent)
Recommended Action
Approve the Consent Agenda.
File Attachments
All items listed on the consent agenda will be considered by the Board and will be enacted by one motion. There will be no separate discussion of these items unless a Board member so requests.
Motion & Voting
Approve the Consent Agenda items 1 and 3.

Motion by Teddy Kinzer, second by Scott McMurdie.
Final Resolution: Motion Carries
Yes: Marcia Harris-Daniel, Teddy Kinzer, Mark Potter, Scott McMurdie, Jim Mason, Chinelo Nwanze
D. Regular Agenda Items
Subject
1. Receive any reports and presentations by the Sachse Economic Development Corporation President, Board Members, Executive Director, and staff regarding items of community interest; special events; announcements and activities; office, industrial, commercial, or retail business retention; and marketing projects.
Meeting
Jul 20, 2023 - Economic Development Corporation Meeting
Type
Discussion, Information
Goals
Make Sachse more prosperous through job creation and quality development that adds community value.

BACKGROUND

Announcements are made at this time for informational purposes only.

 

POLICY CONSIDERATION

There are no policy considerations affiliated with this item.

 

RECOMMENDATION

Receive any reports and presentations by the Sachse Economic Development Corporation President, Board Members, Executive Director, and staff regarding items of community interest; special events; announcements and activities; office, industrial, commercial, or retail business retention; and marketing projects.

File Attachments
D. Regular Agenda Items
Subject
2. Discuss and consider approval of the proposed local business grant program.
Meeting
Jul 20, 2023 - Economic Development Corporation Meeting
Type
Action, Discussion
Preferred Date
Jul 20, 2023
Fiscal Impact
Yes
Goals
Make Sachse more prosperous through job creation and quality development that adds community value.

BACKGROUND
The Sachse Economic Development Corporation budget contains an account code for a Local Business Grant Program. The purpose of this agenda item is to have a policy discussion about this program. On November 17, 2022, the Board held a discussion about small business grants and local business grants. No action was taken during that meeting.

At the June 22 EDC Board meeting, the Board discussed this program again and provided additional direction to staff in terms of the details of the program. No action was taken during that meeting.

OVERVIEW
During the FY 2023 budget planning and approval process, money was not specifically allocated to the local business grant account code as staff wanted first to receive policy direction from the Economic Development Corporation. 

POLICY CONSIDERATION
The EDC follows statutory requirements relative to economic development projects. Currently, there is not an active grant distribution policy for local business grants. 

RECOMMENDATION
Discuss and consider approval of the proposed local business grant program.

File Attachments
Local Business Grant Program.pdf (189 KB)
D. Regular Agenda Items
Subject
3. Consider the Sachse Economic Development Corporation FY 2023-2024 Budget.
Meeting
Jul 20, 2023 - Economic Development Corporation Meeting
Type
Action, Discussion
Goals
Be a model of financial stewardship through growth management, responsible investment, and financial transparency.

BACKGROUND
Staff has put together the FY 2023-2024 Economic Development Corporation budget to be consistent with the strategic goals and objectives of the Board.

OVERVIEW
Each year the EDC Board must approve an annual budget for the following fiscal year.

POLICY CONSIDERATION
Approval of the proposed budget by the EDC Board is necessary for it to be included in the overall City of Sachse Budget and then to be approved by Ordinance of the City Council.

RECOMMENDATION
Approve the Sachse Economic Development Corporation FY 2023-2024 Budget.

File Attachments
EDC Budget Worksheet_07.17.23_EDC Meeting.pdf (139 KB)
E. Executive Session
Subject
1. The Sachse Economic Development Corporation shall convene into Executive Session pursuant to Texas Government Code Section §551.087: Deliberation regarding Economic Development Negotiations: Discussion of an Economic Development incentive for Bunker Hill Retail, LLC for a project generally located along Bunker Hill Road and Miles Road and for retail or commercial business projects seeking to locate within the City of Sachse.
Meeting
Jul 20, 2023 - Economic Development Corporation Meeting
Type
Closed Session
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E. Executive Session
Subject
2. Executive Session Pursuant to Texas Government Code §551.087 Economic Development Deliberations: Deliberate the offer of a financial or other incentive relating to the development of Project Fern.
Meeting
Jul 20, 2023 - Economic Development Corporation Meeting
Type
Closed Session
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F. Regular Items / Meeting Closing
Subject
1. Take action as a result of executive session: Consider authorizing the City Manager as Executive Director of the EDC to negotiate and execute an economic development agreement on behalf of the EDC with Bunker Hill Retail, LLC for a project generally located along Bunker Hill Road and Miles Road, and any amendments and instruments related thereto.
Meeting
Jul 20, 2023 - Economic Development Corporation Meeting
Type
Action, Discussion
Recommended Action
Authorize the City Manager as Executive Director of the EDC to negotiate and execute an economic development agreement on behalf of the EDC with Bunker Hill Retail, LLC for a project generally located along Bunker Hill Road and Miles Road, and any amendments and instruments related thereto.
File Attachments
Motion & Voting
Authorize the City Manager as Executive Director of the EDC to negotiate and execute an economic development agreement on behalf of the EDC with Bunker Hill Retail, LLC for a project generally located along Bunker Hill Road and Miles Road, and any amendments and instruments related thereto.

Motion by Scott McMurdie, second by Chinelo Nwanze.
Final Resolution: Motion Carries
Yes: Marcia Harris-Daniel, Teddy Kinzer, Mark Potter, Scott McMurdie, Jim Mason, Chinelo Nwanze
F. Regular Items / Meeting Closing
Subject
2. Take any action as a result of Executive Session - deliberate the offer of a financial or other incentive relating to the development of Project Fern.
Meeting
Jul 20, 2023 - Economic Development Corporation Meeting
Type
Action, Discussion
Recommended Action
Motion to authorize City Manager to negotiate and execute an incentive agreement for Project Fern on behalf of the Economic Development Corporation.
Goals
Make Sachse more prosperous through job creation and quality development that adds community value.
File Attachments
Motion & Voting
Motion to authorize City Manager to negotiate and execute an incentive agreement for Project Fern on behalf of the Economic Development Corporation.

Motion by Teddy Kinzer, second by Mark Potter.
Final Resolution: Motion Carries
Yes: Marcia Harris-Daniel, Teddy Kinzer, Mark Potter, Scott McMurdie, Jim Mason, Chinelo Nwanze
F. Regular Items / Meeting Closing
Subject
3. Adjournment.
Meeting
Jul 20, 2023 - Economic Development Corporation Meeting
Type
Procedural
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