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CITY OF KRUM

ECONOMIC DEVELOPMENT CORPORATION

ITEM # E-1

AGENDA TYPE: CONSENT Finance Review Yes N/A

Legal Review Yes N/A

Council Meeting Date: August 9, 2021

Staff Contact: Lisa Dawn Cabrera, TRMC

Department: Administration

ACTION REQUESTED: Approve March 18, 2021, minutes

AGENDA CAPTION

Consider and take action regarding the approval of the minutes from the March 18, 2021, meeting.

BACKGROUND/SUMMARY OF ITEM

The minutes from the March 18, 2021 EDC meeting are attached for your review and approval.

STAFF OPTIONS & RECOMMENDATION

Approve

List of Supporting Documents/Exhibits Attached: March 18, 2021 Minutes

Prior Action/Review by Council, Boards, Commissions or Other Agencies:

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Ronald G. Harris, Jr., Mayor Austin Petersen, Council Member Place 1 Rhonda Harrison, Mayor Pro-Tem Place 2 Melynda Rivers, Council Member Place 3 Richard Troth, Council Member – Place 4 Mike Strand, Council Member – Place 5 Trey Sargent, Assistant City Attorney Lisa Dawn Cabrera, City Secretary

MINUTES KRUM ECONOMIC DEVELOPMENT CORPORATION (EDC)

REGULAR VIRTUAL MEETING THURSDAY, MARCH 18, 2021

6:30 PM

EDC Members Present: Dale Gant, Chairman; Richard Troth, Place 3; Melynda Rivers, Place 5; and Terry Patton, Place 7 EDC Members Absent: Lisa McEntire, Place 2; Misty Willis, Place 4; and Steve Skelton, Place 6 City Staff Present: Erin Clark, Finance Director and Lisa Dawn Cabrera, City Secretary.

A. CALL TO ORDER

Chairman Gant called the meeting to order at 6:51 pm.

B. ANNOUNCE QUORUM IS PRESENT

Chairman Gant announced a quorum is present.

C. INVOCATION

Board Member Troth performed the Invocation.

D. PLEDGE OF ALLEGIANCE TO THE U.S. FLAG & TEXAS FLAG

The Pledges of Allegiance were recited.

E. DISCUSSION ITEMS

1. January 2021 Financials A brief discussion was held among the members of the Board and City Staff concerning sales tax collection.

F. CONSENT AGENDA ITEMS 1. Consider and take action regarding the approval of minutes from the February 8, 2021

meeting. Board Member Rivers made a motion to approve the Consent Agenda, seconded by Board Member Troth.

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Motion passed without objection.

G. REGULAR AGENDA ITEMS 1. Discuss, consider, and take action regarding an Application for Business Incentive from

Cramer Orthodontics for a business to be located at 1617 E. McCart Street.

A lengthy discussion was held among the members of the Board, City Staff and the applicant regarding the number of employees, the days the Krum office is open, delays in the application and retiming schedule, and incentives available, Board Member Rivers made a motion to approve Business Incentives of $10.00 per square foot not to exceed 1,500 square feet and a permit fee not to exceed $2,310 with the maximum reimbursement payout to not exceed $17,310, seconded by Board Member Troth. Motion passed without opposition.

2. Discuss, consider, and take action regarding an Application for Business Incentive from Bore

and Barrel for a business located at 202 W. McCart Street, Ste 160.

A lengthy discussion was held among the members of the Board, City Staff and the applicant regarding electrical work needed, damaged roads by his building, back log of work and needing employees, expanding the business and possibly adding a gun museum. Board Member Rivers made a motion to approve Business Incentives of $10.00 per square foot not to exceed 1,400 square feet and a permit fee not to exceed $2,500 with the maximum reimbursement payout to not exceed $16,500, seconded by Board Member Troth. Motion passed unanimously.

3. Discuss, consider, and take action regarding an Application for Business Incentive from

Smoke and Fire for a business to be located at 115 West Lake Street.

A lengthy discussion was held among the members of the Board, City Staff and the applicant regarding the number of days the business will be open, current square footage and adding square footage, number of employees, and the finish out required. Board Member Rivers made a motion to approve Business Incentives of $10.00 per square foot not to exceed 2,400 square feet and a permit fee not to exceed $2,400 with the maximum reimbursement payout to not exceed $26,400, seconded by Board Member Troth. Motion passed without opposition.

4. Discussion concerning a possible incentive with Everett Wineman for a 30,000 to 40,000

square foot new construction project.

A lengthy discussion was held among the members of the Board, City Staff and Mr. Wineman regarding the number of businesses to possibly relocate here, the Boards appetite for giving incentives, types of businesses looking at the city, no location in mind at this time, possibly zoning and building issues, and EDC partnerships. No action was taken on this item.

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H. FUTURE AGENDA ITEMS

A short discussion was held among the members of the Board and City Staff regarding the application redesign, the EDC brochure, and member attendance.

I. ADJOURN Board Member Rivers adjourned the meeting at 7:59 pm.

____________________________ Dale Gant

Chairman

ATTEST: _____________________________ Lisa Dawn Cabrera, TRMC City Secretary

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CITY OF KRUM

ECONOMIC DEVELOPMENT CORPORATION

ITEM # F-1

AGENDA TYPE: REGULAR Finance Review Yes N/A

Legal Review Yes N/A

Council Meeting Date: August 9, 2021

Staff Contact: Lisa Dawn Cabrera, TRMC

Department: Administration

ACTION REQUESTED: Approve FY 2021-2022 Budget

AGENDA CAPTION

Discuss, consider and take action regarding the Economic Development Corporation FY 2021-2022 Budget.

BACKGROUND/SUMMARY OF ITEM

Please see the attached proposed budget for your review and approval for the Fiscal Year 2021-2022 Economic Development Corporation.

STAFF OPTIONS & RECOMMENDATION

Approve

List of Supporting Documents/Exhibits Attached: FY 2021-2022 Budget

Prior Action/Review by Council, Boards, Commissions or Other Agencies:

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Total Estimated FY21 Year-End Fund Balance 1,166,774

Estimated FY22 Revenues

Sales Tax 100,795

Interest Income 8,000

Total Revenues 108,795

Total Available Funds (fund balance plus revenues) 1,275,569

Estimated FY22 Expenditures

Transfer to General Fund (30,000)

Administrative Expense (500)

Office Equipment Lease/Rental -

Advertising -

Training & Travel (1,500)

Dues & Subscriptions (600)

Direct Business Incentive (80,000)

Program & Special Projects (500)

Legal Services (3,500)

Professional Services -

Revitalization (10,000)

Parking Lot Maintenance (2,000)

Quality of Life Projects (10,000)

Total Expenditures (138,600)

Total Estimated Remaining Funds at end of FY22 1,136,969

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CITY OF KRUM

ECONOMIC DEVELOPMENT CORPORATION

ITEM # F-2

AGENDA TYPE: REGULAR Finance Review Yes N/A

Legal Review Yes N/A

Council Meeting Date: August 9, 2021

Staff Contact: Lisa Dawn Cabrera, TRMC

Department: Administration

ACTION REQUESTED: Create a list of business and approve selections for Business of the Month

AGENDA CAPTION

Discuss, consider and take action regarding the section of Business of the Month businesses for the rest of this calendar year and next calendar year.

BACKGROUND/SUMMARY OF ITEM

Please see the attached spreadsheet that I have put together for the businesses that have been granted business of the month in the past year or so. I would like for us to work together to put a list of businesses together so that I may have a good list. From that list we can choose who will be the business of the month for the rest of this calendar year and next year. I liked having several months businesses already decided because I had more time to work with them to create their ads.

STAFF OPTIONS & RECOMMENDATION

List of Supporting Documents/Exhibits Attached: Business of the Month Spreadsheet

Prior Action/Review by Council, Boards, Commissions or Other Agencies:

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YEAR MONTH BUSINESS2019 April Krum Clips2019 May Ms. Rhonda's2019 June Spencers2019 July El Gallo2019 August Anytime Fitness2019 September Andy's Restaurant2019 October Joy Grace2019 November Sonic2019 December Krum Dental2020 January C&G Electric2020 February Lisa's Stockyard Salon2020 September Classic Donuts2020 October Portofino's2020 November Barnett's Sweets2020 December Patton Insurance2021 January Loving Hearts Day Care2021 February Longevity Medical2021 April The Cap Place2021 May Cam 2 Construction2021 June The Mutty Pup2021 July Haircutters2021 August Vogue Cleaners2021 September Elite Nails

Krum Economic Development CorporationBusiness of the Month

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CITY OF KRUM

ECONOMIC DEVELOPMENT CORPORATION

ITEM # F-3

AGENDA TYPE: REGULAR Finance Review Yes N/A

Legal Review Yes N/A

Council Meeting Date: August 9, 2021

Staff Contact: Lisa Dawn Cabrera, TRMC

Department: Administration

ACTION REQUESTED: Approve creating and purchasing new signs for Business of the Month

AGENDA CAPTION

Discuss, consider, and take action regarding purchasing new Business of the Month signs with the new City Logo.

BACKGROUND/SUMMARY OF ITEM

Please see the attached sales sheet for purchasing new signs for the Business of the Month. Since we have changed the logo, I would like to purchase new signs for Business of the Month.

STAFF OPTIONS & RECOMMENDATION

List of Supporting Documents/Exhibits Attached: Sales Sheet

Prior Action/Review by Council, Boards, Commissions or Other Agencies:

MEETING PACKET PAGE 11 of 13

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MEETING PACKET PAGE 12 of 13

CITY OF KRUM

ECONOMIC DEVELOPMENT CORPORATION

ITEM # F-4

AGENDA TYPE: REGULAR Finance Review Yes N/A

Legal Review Yes N/A

Council Meeting Date: August 9, 2021

Staff Contact: Lisa Dawn Cabrera, TRMC

Department: Administration

ACTION REQUESTED: Recommend to City Council to replace Steve Skelton on the EDC Board.

AGENDA CAPTION

Discuss, consider, and take action regarding the recommendation to City Council for removing a Board Member.

BACKGROUND/SUMMARY OF ITEM

Board Member Skelton has not been to a meeting for several months, so a recommendation needs to be made to the City Council to replace him on the Board.

STAFF OPTIONS & RECOMMENDATION

List of Supporting Documents/Exhibits Attached: None

Prior Action/Review by Council, Boards, Commissions or Other Agencies:

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