ROLL CALL AND CALL TO ORDER BY PRESIDING OFFICER Board Members Scott Cain, President Robert Kelly, Vice President Chris Boedeker Mike Mann John Warren City Staff Steve Polasek, City Manager Ivy Peterson, Corporation Secretary Troy Lestina, Finance Director
RESOLUTION 4A-04-2020-13 CONSIDER A RESOLUTION RECOMMENDING THE ESTABLISHMENT OF THE “ALL ABOARD CLEBURNE” COMMUNITY PROMOTION PROGRAM AND APPROVING THE EXPENDITURE OF $300,000.00 FROM THE FY2020 4A ECONOMIC DEVELOPMENT CORPORATION FUND BALANCE. Presented by: Grady Easdon, Economic Development Manager Summary statement: Staff has developed a new, proposed program known as the “All Aboard Cleburne” Community Promotion Program (“Program”). The Program would be funded through the City of Cleburne Type A Economic Development Corporation (“Corporation”) and would allow the City to partner with Cleburne businesses to promote the community as a great place to do business. The Program will provide one-time payments of $5,000 distributed to participating businesses, provided that certain guidelines and criteria are met. Section 504.105 of the Texas Local Government Code states that a Type A Corporation may expend up to and not more than ten percent (10%) of the corporation’s revenues for promotional purposes. The Corporation’s FY 2020 budgeted revenues are approximately $3.03 million. This would allow the Corporation and City Council to allocate $300,000 for promotional purposes. The proposed Program will continue until funding in the amount of $300,000 is exhausted or upon other direction of the City Council, and payments will be distributed to approved applicants on a first-come, first-served basis. If approved, a budget amendment in the amount of $300,000 will be required in order to facilitate funding of this program. See staff report for more program details.
RESOLUTION 4A-04-2020-14 CONSIDER A RESOLUTION AMENDING THE ANNUAL BUDGET FOR FISCAL YEAR 2020 (#1), 4A ECONOMIC DEVELOPMENT CORPORATION FUND 17, BY APPROPRIATING $300,000 FROM FUND BALANCE FOR THE ALL ABOARD CLEBURNE COMMUNITY PROMOTION PROGRAM. Presented by: Troy Lestina, Director of Finance Summary Statement: Due to the COVID-19 global pandemic, many small businesses within the City of Cleburne have suffered economic hardships. While the Federal Government has provided potential economic relief in the form of Small Business Administration loans, the businesses are continuing to suffer from decreased traffic to their places of business. In order to promote small businesses in the City of Cleburne, staff has developed the All Aboard Cleburne Promotional Program. Section 504.105(a) of the Texas Local Government Code states that a Type A corporation may spend not more than 10 percent of the corporate revenues for promotional purposes. For FY2020, the budgeted revenue for the Cleburne Type A Economic Development Program is $3,027,500. The Cleburne Type A Economic Development Corporation desires to allocate $300,000 of the corporate revenues for promotional purposes. The proposed Cleburne Type A Economic Development Corporation Fund budget amendment will revise the total adopted Cleburne Type A Economic Development Corporation Fund budget of $2,597,773 (Ordinance OR4A-08-2019-12) to $2,897,773. Anticipated funding source for the $300,000 addition for the All Aboard Cleburne Promotional Program is the anticipated excess revenues over anticipated expenditures that would increase the Fund’s anticipated fund balance position. ADJOURNMENT
ROLL CALL AND CALL TO ORDER BY PRESIDING OFFICER Board Members Scott Cain, President Robert Kelly, Vice President Chris Boedeker Mike Mann John Warren City Staff Steve Polasek, City Manager Ivy Peterson, Corporation Secretary Troy Lestina, Finance Director
RESOLUTION 4A-04-2020-13 CONSIDER A RESOLUTION RECOMMENDING THE ESTABLISHMENT OF THE “ALL ABOARD CLEBURNE” COMMUNITY PROMOTION PROGRAM AND APPROVING THE EXPENDITURE OF $300,000.00 FROM THE FY2020 4A ECONOMIC DEVELOPMENT CORPORATION FUND BALANCE. Presented by: Grady Easdon, Economic Development Manager Summary statement: Staff has developed a new, proposed program known as the “All Aboard Cleburne” Community Promotion Program (“Program”). The Program would be funded through the City of Cleburne Type A Economic Development Corporation (“Corporation”) and would allow the City to partner with Cleburne businesses to promote the community as a great place to do business. The Program will provide one-time payments of $5,000 distributed to participating businesses, provided that certain guidelines and criteria are met. Section 504.105 of the Texas Local Government Code states that a Type A Corporation may expend up to and not more than ten percent (10%) of the corporation’s revenues for promotional purposes. The Corporation’s FY 2020 budgeted revenues are approximately $3.03 million. This would allow the Corporation and City Council to allocate $300,000 for promotional purposes. The proposed Program will continue until funding in the amount of $300,000 is exhausted or upon other direction of the City Council, and payments will be distributed to approved applicants on a first-come, first-served basis. If approved, a budget amendment in the amount of $300,000 will be required in order to facilitate funding of this program. See staff report for more program details.
RESOLUTION 4A-04-2020-14 CONSIDER A RESOLUTION AMENDING THE ANNUAL BUDGET FOR FISCAL YEAR 2020 (#1), 4A ECONOMIC DEVELOPMENT CORPORATION FUND 17, BY APPROPRIATING $300,000 FROM FUND BALANCE FOR THE ALL ABOARD CLEBURNE COMMUNITY PROMOTION PROGRAM. Presented by: Troy Lestina, Director of Finance Summary Statement: Due to the COVID-19 global pandemic, many small businesses within the City of Cleburne have suffered economic hardships. While the Federal Government has provided potential economic relief in the form of Small Business Administration loans, the businesses are continuing to suffer from decreased traffic to their places of business. In order to promote small businesses in the City of Cleburne, staff has developed the All Aboard Cleburne Promotional Program. Section 504.105(a) of the Texas Local Government Code states that a Type A corporation may spend not more than 10 percent of the corporate revenues for promotional purposes. For FY2020, the budgeted revenue for the Cleburne Type A Economic Development Program is $3,027,500. The Cleburne Type A Economic Development Corporation desires to allocate $300,000 of the corporate revenues for promotional purposes. The proposed Cleburne Type A Economic Development Corporation Fund budget amendment will revise the total adopted Cleburne Type A Economic Development Corporation Fund budget of $2,597,773 (Ordinance OR4A-08-2019-12) to $2,897,773. Anticipated funding source for the $300,000 addition for the All Aboard Cleburne Promotional Program is the anticipated excess revenues over anticipated expenditures that would increase the Fund’s anticipated fund balance position. ADJOURNMENT