4B Sales Tax Corporation Minutes - 03/05/2018MINUTES OF THE
WICHUA FALLS 4B SALES TAX CORPORATION(4BSTC)
March 5„ 20118
PRESENT:
ony Fidelic. President
Members
Glenn Barham. Vice -President
Rick I latcher. Secretary -Treasurer
Dave Clark
Darronl,eiker
Derik Schneider
Stephen L. Santellana, Mayor Mayor
Jinn Dockery, Deputy ('ity Manager
City Shill
Paul Menzies. Assistant City Nlanager
R. Kinlcy iiegglund. Jr., City Attorney
Linda Merrill. Recording Secretary
Will K.elty
Trish Choate
ABSENT:
Michael Mills
City Center
Tittles Record Alciii,sn
Member
1 Call to Order.
Tony Fidelie ca] led the meeting to order at
2. Approval of Minutes of 12/7/17.
Rick. Ilatcher moved, seconded by Darrot .for approval of the rninutesas reyised.
The motion carried 6-0.
3. .Financial. Report.
Jim Dockery said revenues are at $4,096,000, and.. expenditures are budgeted at $3.885
million. evenue less expenses totals $210,000, The 413 Board started October 1, 2017, with a.
cash balance of $3„782,000, of which $1.254 million was encumbered for various projects. The
unreserved fund balance is at $2.73 million. Sides tax receipts, totaling $1.013,000, are 4.34%
ahead of the first three months of last fiscal year.
4. Public I:fearing to consider accepting a donation of property at 710 Seventh Street
from Wichita County to he used as a parking garage m 4B-rel4ded projects
Mr. Fidelie opened the public 1.1earing at 4:06 p.m..
'Mr. DockerY reminded the Board thin it had previously approved up to 5250,000 for lire
suppression system .upgrades for the City Center resider-14kt! pi-oject development at 728 Itidiana,
which will consist of 28-30 residential units. Some progress has occu1 red. on the project,. but the
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\\TEM 61Lites of Ntarch 5, 2018
developers are having difficulties obtaining tlie $1.4 million in private •finaricillg •necessary to
finish the project. One of the inain difficulties is the lack of adequate parking; the bank nccds 30 -
35 spaces a.s additional collateral in tile event •
the loan.was foreclosed.
Keity has •found a possible loan. through .Fidelity Bank. Conversations have taken
place among City staff, 413inembers„, and Wichita County representatives :concerning the parking.
garage at 71•11 and Indiana Wichita County purchased it •for $600,000 and still owes $90..t.)00 on •it.
It has 250 spaces, and the County no longer needs the facility. It would like to donate it to the 413
Sales Tax (.1.'orporation. to help with the lack of parking for downtown businesses.
Sonic upgrades would be necessary to bring the building up to Code, and other
improvements may be considered in the ..litture. The Board needs to decide today whether to
approve a resolution of support to accept the donation of the parking garage, .assuming all of the
conditions with 'Wiehita County can be satisfied.
11/1.r, Fidelie noted that Wichita County took action on this item today, vtiting to transfer
the oNvnership of the structure to the 4.13 Sales Tax Corporation.
Dave Clark asked about the outstanding payment on the building, and the required
upgrades to the building. •Mr. Dockery said the County would make the final payment on the
structure. Ihey do not want to be paid for the •facilit),r, but do want to reserve 25 spaces for their
use. In the event the 413 Board ever sells the they also want a revenue sharing agreernent.
Rick flatcher asked the cost to upgrade the building, as ‘vell as about potential •flooding.
He assumed citizens would be charged tr parking •when attending events. Mr. .Dockery said the
intent would be to lease the facility monthly rather than on a come -and -go basis. "Fhe tentative
costs to repair are as 11 lows:
Electrical: S60,000
Elelyit or :S282,000.. As long as the bottom floor meets ADA requirements, there would
lie no immediate need to repair the elevators. At some •point. however, \Olen the :facility is at inn
capacity, this expenditure might make sense tbr the convenience of the patrons.
cces.'y control gates: $30,000
Flooding: l....Inknow•n. There is said to be flooding at the garage entrance during heavy
rains. 'Will Kelt) said at the •front entrance, there is the option to go up or dowm the down area is
susceptible to flooding,.. It goes down about five feet under ground level. The quote for the
electrical includes two sub-purnps. .Mr. Fidelie said that area could be closed off I\,1r. teiker
wondered how that Would affect the providing oI handicapped spaces. Mr. Kelty said there are a
couple of spots to the right before the road starts to rise.
Glen Barhinn questioned the striping/paving on concrete. Mr. 'Kelly said the bid is for a
seal coat from a company that specializes in concrete garages. This may not he necessary. The
striping is worse on. the •upper levels. -lowing companies niight be willing to stripe for free in
exchange for an the towing business from the •flitiliT•y., 'Vital could he a way to defray costs.
li)ockery said there are a 1titof questions about the •lacility. IThe Board is trying to
give a general willingness to work •writh the county so that Mr. Kelty can utilise that with the
bank. Ile is not certain that today's action would be bindhig, but itdoes indicate stwort.
Mr. Fidelie elosed the •public hearing at 4:26 p.m.
WI'LDC - Minutes r f March 5, 2018
5. .Executive Session.
Mr. Fidelle adjourned the meeting into executive session at 4:26 pan. pursuant to TEXAS
GOVE.RNMEN-f CODE ,section 551..087, FIC announced the meeting 'back into regular session. at
4:48 pm. The subjects posted in .the Notice of Meeting were deliberated. and no votes or further
action was taken on these items i.n executive session.
6. Consider approval of a Resolution accepting a donation of property at 710 Seventh
Street from Wichita County to be used as a parking garage in 413 related projects
pending agreement with Wichita County, potential tenants, and other legal matters
related thereto.
Mr. Lciker moved to approve the resolution of sumrt by the 413 Sales Fax (.'orporation
agreeing that it is Currently in favor of accepting the donation of prlq)ertv at 710 Seventh Street
from Wichita County to be used as a parking garage in 4B -related ,projectspending_an aycement.
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matters. Seconded by Mr. Barham. the motion carried 6-0,
7. Adjourn.
"Fhe meeting adjourned at 4:50 p.m.
(iuy A,. '''.1"( President