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4B Sales Tax Corporation Minutes - 07/09/2014 RECEIVED IN CITY CLERK'S OFFICE DATE: -� ' BY: TIME: 11S1" MINUTES OF THE WICHITA FALLS 4B SALES TAX CORPORATION (4BSTC) July 9, 2014 PRESENT: Jim Ginnings, President § Members Dave Clark § Tony Fidelie § Rick Hatcher § Darron Leiker § Casey O'Donnell § Kevin Hugman, Assistant City Manager § City Staff Jim Dockery, CFO/Assistant City Manager § Miles Risley, City Attorney § Linda Merrill, Recording Secretary § Andy Lee § Erin Marvin § Downtown WF Development John Dickinson § Brandi Shaver § Clayton Lane § Syd Litteken § ABSENT: Dustin Nimz, Vice President and Sec./Treasurer § Member 1. CALL TO ORDER. Jim Ginnings called the meeting to order at 4:00 p.m. 2. APPROVAL OF MINUTES(OCTOBER 30,2013) Dave Clark moved for approval. Seconded by Rick Hatcher, the motion carried. 3. DISCUSSION OF POTENTIAL IMPROVEMENTS TO FARMERS MARKET Syd Litteken spoke on behalf of the Downtown Wichita Falls Development (DWFD). The Farmers Market is a great success, but repairs are needed. Phase 1 plans include: Project Estimated Cost 40' x 40' patio greenhouse roof(and accessories) $42,582 Replace wood trellis (paint trellis and cupola) $13,300 8th Street"Oil City"permanent sign $14,300 Reconstruct valley flashing and wall-to-roof flashing $ 4,800 Replace plexiglass in cupola with polycarbonate sheets $ 5,780 Lighting and timers $ 7,899 Total $88,661 H:\ Iegal\4A,4B,TIFS\4B Corp\4B Minutes\2014\2014.7.9\Minutes.4B 2014.7.9.doc WFEDC—Minutes of July 9,2014 2 Phase 2 plans include: Project Estimated Cost Exterior garage doors $36,000 Remove/replace wrought iron protection bars; add $ 9,690 aluminum frame and tempered glazing and entrance doors at office and bathrooms Total $45,690 The City owns the facility, and leases it to DWFD for $1.00 per year. Mr. Hugman said the City cut its maintenance budget, but still pays toward utilities. Operation and marketing costs fall to DWFD, and that group takes in the revenues. Jim Dockery added that the City's cap is $5,200-$5,800 per year toward the cost of utilities. Andy Lee said the City initially invested $7,000 to get it up and running, and DWFD spent $10,250 the first year of the lease. At that time, the Market generated $2,800 per year. That has increased 317%. They installed a rainwater system and new landscaping. The City installed electrical panels, and DWFD contributed another $25,000 of improvements this year. Mr. Ginnings asked if DWFD is asking for the entire amount of$134,351. Mr. Lee said they are asking for the entire amount, cushioning that request by adding that downtown events generated $3.7 million in revenues for the City last year. Tony Fidelie asked how much the City might contribute. Mr. Leiker said this is a request ripe for 4B funding. The 4B Board should fund this, if it so chooses. Mr. Ginnings asked whether it would be appropriate to vote on this discussion item. Miles Risley did not recommend taking a vote; this is for a future agenda. Mr. Ginnings asked the time line on these improvements. Mr. Litteken estimated 60 days. Tony Fidelie said he works downtown and his family goes to the Farmers Market every weekend. It is good to see City leaders working to improve Wichita Falls. 4. DISCUSSION OF POTENTIAL INFRASTRUCTURE IMPROVEMENTS TO STREET, SIDEWALK,AND UTILITIES IN VICINITY OF 800 OHIO STREET Andy Lee gave a history of the Zales building, now owned by the DWFD, as well as a rundown of planned renovations and new businesses in its vicinity. Sidewalk and street improvements are necessary at this location. He thanked the 4B Board for appropriating $1.2 million in 2008-09 for downtown streetscape improvements. This is the tail-end of that project. Mr. Litteken said the Zales building is approximately 10,000 square feet in size. A lot of businesses have shown interest in the property, but question the infrastructure. A 2"water line on Ohio serves that building and Casa Manana. While repairing the sidewalk in front of the Zales building, a 6" water line could be installed and attached to the 8" pvc line at the Holt Hotel across 8th Street. Four water meters and a sprinkler riser would be the result. The sidewalk in front of the Zales building is 21" higher than the street at the corner. A 19' ramp is necessary to get to the sidewalk level. They also want to include bulb-outs and cross- WFEDC—Minutes of July 9,2014 3 walks and a star in the intersection. They have new concrete benches and light posts proposed for these corners. Mr. Dockery asked if this project could be done in phases. Mr. Litteken said they need to get the water, sewer and walkway completed at this corner to bring the Zales building into operation($103,419). The three other corners could be done at a later date ($93,241). Davis Powell said the City is phasing out the 2" galvanized lines. That line would eventually be replaced. Mr. Ginnings asked if that could be accelerated. Mr. Powell said he would have to look at budgeting for other lines. The 6" line installation is a smaller project and could be worked in. Mr. Leiker asked if that would help flows elsewhere, or would this improvement just benefit that property. Mr. Powell said it would benefit Casa Manana, but would not increase the flow for the rest of downtown. Mr. Leiker asked if it could help with fluoride residue and fire hydrant flow. Mr. Powell said that it could. Mr. Ginnings thanked the Downtown Wichita Falls Development team for their presentation. 5. DISCUSSION OF PROPOSED BUDGET FOR FISCAL YEAR 2014-15 Kevin Hugman presented the 4B's draft budget for fiscal year 2014-15. The projected ending cash balance for FY 2014 of$3,801,091 will be the beginning cash balance for FY 2015. If revenues stay on track, the fund will end the year with $170,000 more than was anticipated. The TIF #2 reimbursement is for the issuance of bonds for the Maplewood extension and Rhea Road/Call Field realignment. A three-year repayment to the 4B for a loan for the travel center is $116,111 each year. Projects closed this year are the Kell House renovation, Kemp Center at the Forum, and the BMX Track. He projected budget revenues for FY 2015 at $4,268,902. The bulk of 4B revenues go to repayment of the debt service on bonds. Most are still active several more years; the next one will expire in 2018. Funding is included for radio and CAD maintenance and MDT software. Street improvements totaling $400,000 is budgeted to target the downtown area. Administrative charges of$10,000 represent a partial reimbursement for the time City staff spends working on 4B projects. Only the MPEC project has been approved in FY 2014. Assuming no other projects are approved, the unreserved fund balance for FY 2014 will be $1,458,000. The 4B Board's goal has been to maintain about $1 million, so the fund is well above that. A Downtown Improvements Grant Project was discussed in January at the City Council's preliminary work session. Guidelines would be put together for the 4B Board's approval. This would be a 50% matching grant up to $5,000 for any downtown business to use to improve the downtown area. Once the guidelines were approved, this could be an administrative function of City staff. Mr. Dockery noted that staff will have a City pre-budget workshop with the Council next week. As part of that, they will discuss some potential projects that are 4B eligible. WFEDC—Minutes of July 9,2014 4 Mr. Ginnings asked for staff comment on funding DWFD's $331,000 request. Mr. Leiker likes the project; there is a lot of interest in downtown revitalization. He is not sure how he would rank it considering potential requests from the City,but the projects have merit. Mr. Ginnings would like them brought before the 4B Board as action items, with the dollar figures hardened. Mr. Hugman agreed to do so, adding that he will discuss the costs with Davis Powell, as well. Mr. Ginnings thanked City Attorney Miles Risley for his assistance. He enjoyed working with him and wished him the best (in his new position as City Attorney for Corpus Christi). Updates Airport. The first flight is scheduled for November 20. There will be a VIP tour and dinner on November 6; the 4B Board members will be invited. Wayfinding. Under contract with manufacturer. Over 200 signs to be installed beginning in September, to be finished by November. Castaway Cove. Additional engineering drawings were necessitated before going out for bids. Bids close within a week or so. Construction would begin when the park closes in September, and take 90-120 days. 6. ADJOURN The meeting was adjourned at 5:24 p.m. J'm�'1 n_ , President