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HomeMy WebLinkAbout02-10-14 Meeting of the La Porte Development Corporation Board of Directors RICHARD WARREN,PRESIDENT MIKE CLAUSEN, BOARD MEMBER MIKE COOKSLEY, BOARD MEMBERRANDY WOODARD, BOARD MEMBER JAY MARTIN, BOARD MEMBERNANCY OJEDA,BOARD MEMBER CHUCK ENGELKEN, BOARD MEMBER CITY OF LA PORTE DEVELOPMENT CORPORATION MEETING AGENDA Notice is hereby given of a meeting of theCity of La Porte Development Corporation to be held on February10,2014, at the City Hall Council Chambers, 604 West Fairmont Parkway, La Porte, Texas, at 5:00p.m. to consider the followingitems of business. 1.CALL TO ORDER ( 2.CONSENT AGENDA All consent agenda items are considered routine by the La Porte Development Corporation Boardand will be enacted by one motion. There will be no separate discussion of these items unless a Board memberrequests anitem be removed and considered separately.) (a) Consider approval of minutes of the meeting of La Porte Development Corporation Board held on January 13,2014–P. Fogarty 3.AUTHORIZATIONS (a) Consider approval or other action to authorizing staff to reimburse Claudia Cox on behalf of Entrust Professional Insurance in the amount of $17,611.00 for completion of an enhancement grant project –S. Livingston 4.PRESENTATION (a) Receive presentation regarding proposed revisions to the monthly Financial Report –S. Livingston 5.SET DATE FOR NEXT MEETING S. Livingston – 6.STAFF REPORTS (a) Receive Financial Report –M. Dolby 7.BOARD MEMBER COMMENTS regarding matters appearing on agenda; recognition of community members, city employees, and upcoming events; inquiry of staff regarding specific factual information or existing policies. 8.EXECUTIVE SESSION –The La Porte Development Corporation reserves the right to meet in executive session on any agenda item should the need arise and if authorized by the Texas Open Meetings Act, Title 5, Chapter 551, of the Texas Government Code, including, but not limited to, the following: 9.RECONVENE into regular session and consider action, if any, on items discussed in executive session. 10.ADJOURN In compliance with the Americans with Disabilities Act, the City of La Porte City will provide for reasonable accommodations for persons attending publicmeetings. To better serve attendees, requests should be received 24 hours prior to the meetings. Please contact Patrice Fogarty, City Secretary, at 281.470.5019. February 10, 2014, La Porte Development Corporation Agenda The La Porte Development Corporation reserves the right to meet in executive session on any agenda item should the need arise and if authorized by the Texas Open Meetings Act, Title 5, Chapter 551, of the Texas Government Code. CERTIFICATION I certify that a copy of the February10, 2014, agenda of items to be considered by the Board of the La Porte Development Corporation was posted on the City Hall bulletin Boardon February 4, 2014. February 10, 2014, La Porte Development Corporation Agenda RICHARD WARREN,PRESIDENT MIKE CLAUSEN, BOARD MEMBER MIKE COOKSLEY, VICE PRESIDENT RANDY WOODARD,BOARDMEMBER CHUCK ENGELKEN, BOARD MEMBERNANCY OJEDA, BOARD MEMBER JAY MARTIN, BOARD MEMBER MINUTES OF LA PORTE DEVELOPMENT CORPORATION BOARD MEETING OF JANUARY 13, 2014 January 13,2014, The City of La Porte Development Corporation Board met onat the City Hall Council 5:00p.m Chambers, 604 West Fairmont Parkway, La Porte, Texas, at .to consider the followingitems of business: 1. Call to Order President Warrencalled the meeting to order at 5:00p.m.The following members of the LaPorte Development Corporation Board were present: Board membersEngelken, Martin, Clausen, and Ojeda.Board member Woodard arrived at 5:07 p.m.Vice President Cooksley was absent. Staff Present:Corby Alexander,Patrice Fogarty,Traci Leach, Scott Livingston, Michael Dolbyand Assistant City Attorney ClarkAskins. ( 2. CONSENT AGENDA All consent agenda items are considered routine by the La Porte Development Corporation Boardand will be enacted by one motion. There will be no separate discussion of these items unless a Board memberrequests anitem be removed and considered separately.) (a) Consider approval of minutes of the meeting of La Porte Development Corporation Board held on December 9, 2013 –P. Fogarty Board memberEngelkenmoved to approve the minutes as presented.Boardmember Martin seconded. Ayes: President Warren, Boardmembers Clausen, Martin, Engelken and Ojeda Nays: None Absent:Vice-President Cooksleyand Board Member Woodard (b) Consider approval or other action authorizing the President of the La Porte Development Corporation Board to execute a development agreement in the amount not to exceed $66,000.00 for Rob Johnson Interestsfor demolition work at the former Chevrolet dealership site at the corner of Spencer Hwy and SH 146 –S. Livingston Board memberEngelken moved to authorize the President of the La Porte Development Corporation Board to execute a development agreement in the amount not to exceed $66,000.00 for Rob Johnson Interest, for demolition work at the former Chevrolet dealership site at the corner of Spencer Hwy and SH 146 as presented.Boardmember Clausen seconded. Ayes: President Warren, Boardmembers Clausen, Martin, Engelken and Ojeda Nays: None Absent:Vice-President Cooksley and Board Member Woodard Page 1of 3 January 13, 2014, La Porte Development Corporation Board Minutes 3.PRESENTATIONS (a) Receive an update on the La Porte Plaza, a new proposed retail development by Rob Johnson Interests at the former Chevrolet dealership site at corner of Spencer Hwy and SH 146–S. Livingston Rob Johnson provided an update on the La Porte Plaza, a new proposed retail development by Rob Johnson Interests at the former Chevrolet dealership site at corner of Spencer Hwy.and SH 146. Board Member Randy Woodard arrived at the meeting at 5:07 p.m. Following the presentationby Mr. Johnson, the La Porte Development Corporation Board recessed the regular meeting to convene an executive session at 5:08p.m.See items 8 and 9, below. The Executive Session was convened at this time out of agenda order. 4.AUTHORIZATIONS (a) Consider approval or other action to allow staff to post appropriate notice for a public hearing for an incentive grant request in an amount not to exceed $40,000.00 to Rob Johnson Interests to attract new retail development on the former Chevrolet dealership site at the corner of Spencer Hwy and SH 146 –S. Livingston Economic Development Coordinator Livingston presented a summary. Board memberOjedamoved to allow staff to post appropriate notice for a public hearing regarding an incentive grantrequest for an additional $40,000.00 to Rob Johnson Interests.Boardmember Woodardseconded. Ayes: President Warren, Boardmembers Clausen, Martin, Woodard, Engelken and Ojeda Nays: None Absent:Vice-President Cooksley 5.SET DATE FOR NEXT MEETING S. Livingston – Board members set the next meeting date for February 10, 2014,at 5:00 p.m. 6.STAFF REPORTS (a)Receive Financial Report –M. Dolby Finance Director Michael Dolby presented the Financial Report. BOARD MEMBER COMMENTS regarding matters appearing on agenda; recognition of 7. community members, city employees, and upcoming events; inquiry of staff regarding specific factual information or existing policies. There were no comments. 8.EXECUTIVE SESSION –The La Porte Development Corporation reserves the right to meet in executive session on any agenda item should the need arise and if authorized by the Texas Open Meetings Act, Title 5, Chapter 551, of the Texas Government Code, including, but not limited to, the following: Texas Government Code, Section 551.087(1) and (2) –Deliberation regarding economic development negotiations:Discuss and/or deliberate regarding financial and commercial information received from Page 2of 3 January 13, 2014, La Porte Development Corporation Board Minutes business prospect, and deliberate possible offer of financial or other incentives to business prospect, in at the former Chevrolet dealership site at connection with new retail development/business enterprises corner of Spencer Hwy and SH 146 . Board membersrecessed the regular meeting to convene an executive session at 5:08p.m. to d eliberateeconomic development negotiations. 9.RECONVENE into regular session and consider action, if any, on items discussed in executive session. The regular meeting reconvened at5:40 p.m. There was no action taken. 10.ADJOURN There being no further business, at 5:52p.m.Board member Engelkenmoved to adjourn the MOTION PASSED. meeting.Board member Ojedaseconded. Ayes: President Warren, Board members Clausen, Martin, Woodard, Engelken, andOjeda Nays: None Absent:Vice-President Cooksley Respectfully submitted, ____________________________________ Patrice Fogarty,City Secretary th Passed and approved on this10dayofFebruary,2014. ____________________________________ President RichardWarren Page 3of 3 January 13, 2014, La Porte Development Corporation Board Minutes REQUEST FOR LA PORTE DEVELOPMENT CORPORATION AGENDA ITEM Budget Agenda Date Requested: 10February 2014 Source of Funds:4B Sales Tax Requested By:Scott D. Livingston Account Number: CIP 015-9892-993 Department: Administration/Economic Development Amount Budgeted:$17,611 Report: Resolution:Ordinance: Amount Requested:$17,611 Exhibits: EPIC’s Project WrapUp YES Budgeted Item:YESNO Exhibits: EPIC’s Initial Application SUMMARY & RECOMMENDATION On 21 January 2013 the 4B Board awarded Ms. Claudia Coxan enhancement grant forEntrust Professional Insurance(EPIC)at 210 West Main Street.The Board approved an amount equal to $17,611 one-half of the cost forapproved project expenses up to . Ms. Cox has completed all the work for the enhancement grant project and provided staff with $47,330.38 “after” pictures and receipts totaling . Please see enclosed. A representative from EPIC is available tonight to give a brief update on the project and address any questions that you might have about the project. $17,611 to reimburse for approved and completed enhancement grant work. Action Required by the La Porte Development Corporation: Consider approval or other action to authorize staff to reimburse Ms. Claudia Coxon behalf of $17,611 EPIC in the amount of . Approved for the La Porte Development CorporationAgenda Corby D. Alexander,City ManagerDate Project WrapUp Noteligible $28,009.06Eligible Eligible Eligible Eligible Eligible After Pictures Environmental EnvironmentalStudy Page1of3 02323 02323 04/30/2013 04/30/2013 Clark Tech Environmental*****995.00 Clark Tech Environmental*****995.00 *********995DOLLARS AND 00 CENTS** EnvironmentalStudy Clark Tech Environmental Page2of3 , 000000000 CLTClark Tech Environmental1010232304/30/2013 GL Code Dpt Bill Date Amount Paid Vend Inv# 6042 GA 04/30/2013 $ 995.00 Betterments & Improve $995.00 NumberClark Tech Environmental CLT Vend Inv # Check #02323 Date04/30/2013 Amount$995.00 Desc PayeeClark Tech Environmental , 000000000 EnvironmentalStudy Page3of3 FollisConstructionCost-FirstPayment Page1of3 InitialdeposittoFollisConstruction AdditionalFees 02329 02329 05/14/2013 05/14/2013 Follis Construction, Inc.*****12,835.00 Follis Construction, Inc.*****12,835.00Follis Construction, Inc.*****12,835.00 *******12835DOLLARS AND 00 CENTS** FollisConstructionCost-FirstPayment Page2of3 Follis Construction, Inc. 111 N Broadwa Street y La Porte, TX 77571-0000 Facade General Contractor FOLFollis Construction, Inc.1010232905/14/2013 GL Code Dpt Bill Date Amount Paid Vend Inv# 6042 GA 05/14/2013 $ 12835.00 1287 Betterments & Improve Facade General Contractor$12,835.00 NumberFollis Construction, Inc. FOL Vend Inv #1287 Check #02329 Date05/14/2013 Amount$12,835.00 DescFacade General Contractor PayeeFollis Construction, Inc. 111 N Broadway Street La Porte, TX 77571-0000 FollisConstructionCost-FirstPayment Page3of3 Construction FollisConstructionCost-SecondPayment Page1of3 02472 02472 12/16/2013 12/16/2013 Follis Construction, Inc.*****21,778.82 Follis Construction, Inc.*****21,778.82Follis Construction, Inc.*****21,778.82 *******21778DOLLARS AND 82 CENTS** FollisConstructionCost-SecondPayment Follis Construction, Inc. 111 N Broadwa Street y Page2of3 La Porte, TX 77571-0000 FOLFollis Construction, Inc.1010247212/16/2013 GL Code Dpt Bill Date Amount Paid Vend Inv# 6042 GA 12/16/2013 $ 21778.82 Betterments & Improve $21,778.82 NumberFollis Construction, Inc. FOL Vend Inv # Check #02472 Date12/16/2013 Amount$21,778.82 Desc PayeeFollis Construction, Inc. 111 N Broadway Street La Porte, TX 77571-0000 FollisConstructionCost-SecondPayment Page3of3 Doors MahoganyDoors page1of6 MahoganyDoors page2of6 MahoganyDoors page3of6 00686 03/25/2013 03/25/2013 ETO Doors*****5,025.00 *****5,025.00 ********5025DOLLARS AND 00 CENTS** MahoganyDoors page4of6 ETO Doors , 000000000 ETOETO Doors1030068603/25/2013 GL Code Dpt Bill Date Amount Paid Vend Inv# 6042 GA 03/25/2013 $ 5025.00 Betterments & Improve $5,025.00 NumberETO Doors ETO Vend Inv # Check #00686 Date03/25/2013 Amount$5,025.00 Desc PayeeETO Doors , 000000000 00687 04/25/2013 04/25/2013 ETO Doors*****5,025.00 *****5,025.00 ********5025DOLLARS AND 00 CENTS** MahoganyDoors page5of6 ETO Doors , 000000000 ETOETO Doors1030068704/25/2013 GL Code Dpt Bill Date Amount Paid Vend Inv# 6042 GA 04/25/2013 $ 5025.00 Betterments & Improve $5,025.00 NumberETO Doors ETO Vend Inv # Check #00687 Date04/25/2013 Amount$5,025.00 Desc PayeeETO Doors , 000000000 MahoganyDoors page6of6 Outdoor Awning Light, Door Handles, and Locks OutdoorAwningLight,DoorHandlesandLocks Page1of4 AwningLight 64.97 +5.36tax 70.3370.33 DoorHandles&Locks 139.00 +11.47tax 150.47150.47 See attacheddocument OutdoorAwningLight,DoorHandlesandLocks Page1of4 Purchased from: Home Depot On: 5/8/2013 Receipt is for a total of $234.85 but only $220.80 is associated with the façade approval. Schlage Camelot Single Cylinder Aged Bronze Handleset with Accent Interior Lever Cost $139.00 8.25% Tax $ 11.47 Total $150.47 Total $150.47 Hampton Bay Bercello Estates 2-Light Volterra Bronze Semi- Flush Mount Cost $ 64.97 8.25% Tax $ 5.36 Total $ 70.33 Total $ 70.33 00669 05/10/2013 05/10/2013 Home Depot*****234.85 *********234DOLLARS AND 85 CENTS** OutdoorAwningLight,DoorHandlesandLocks Home Depot Page3of4 , 000000000 HOHome Depot1030066905/10/2013 GL Code Dpt Bill DateAmount Paid Vend Inv# 6007GA 05/10/2013$ 234.85Office Supplies $234.85 Number HOHome Depot Vend Inv # Check #00669 Date05/10/2013 Amount$234.85 Desc PayeeHome Depot , 000000000 OutdoorAwningLight,DoorHandlesandLocks Page4of4 lessotheritems bringstotal accountableon grantto$220.80 Sign Claudia G. Cox (Claudia.Cox@entrustprof.com) From: Sent: To: Subject: SignonFrontofBuilding Page1of5 Hi Claudia, Here's the invoice, if you need anything else just let me know. 1.)18" x 12' x 1.5"thick sandblasted sign using your artwork.....$1,050 (includes gn using your artwork.....$1,050 (includes 1.)18" x 12' x 1.5"thick sandblasted si shipping (fed ex), no tax. shipping (fed ex), no tax. - $350 deposit paid 091613 - $350 deposit paid 091613 Total Amount Remaining......$700 Total Amount Remaining......$700 Thank you, I appreciate your business, please keep me in mind for your future sign needs. Dave Wagner dave@wagnersigns.com http://www.wagnersigns.com 218.759.2225 Wagner Signs 4725 Sherman Dr. NE Bemidji, MN 56601 *please let me know a shipping address, just to be sure. 1 Building 5 of of Front 2 Page on Sign 02402 02402 09/13/2013 09/13/2013 Waner Sins*****350.00 gg *****350.00 *********350DOLLARS AND 00 CENTS** SignonFrontofBuilding Wagner Signs Page3of5 , 000000000 WGSWagner Signs1010240209/13/2013 GL Code Dpt Bill Date Amount Paid Vend Inv# 6042 GA 09/13/2013 $ 350.00 Betterments & Improve $350.00 NumberWagner Signs WGS Vend Inv # Check #02402 Date09/13/2013 Amount$350.00 Desc PayeeWagner Signs , 000000000 SignonFrontofBuilding Page4of5 02434 02434 10/31/2013 10/31/2013 Waner Sins*****700.00 gg *****700.00 *********700DOLLARS AND 00 CENTS** Wagner Signs SignonFrontofBuilding Page5of5 , 000000000 WGSWagner Signs1010243410/31/2013 GL Code Dpt Bill Date Amount Paid Vend Inv# 6042 GA 10/31/2013 $ 700.00 Betterments & Improve $700.00 NumberWagner Signs WGS Vend Inv # Check #02434 Date10/31/2013 Amount$700.00 Desc PayeeWagner Signs , 000000000 SignonFrontofBuilding Page1of5 SignLights Claudia G. Cox (Claudia.Cox@entrustprof.com) From:rCare@NorthernTool.com> Sent: To: Subject: SignLights page1of3 Claudia, We have received your order and it is being prepared for shipping. A complete order summary with tracking information will be sent when your order ships. Thank you for choosing Northern Tool + Equipment, we hope your shopping experience was fast and easy. Order Confirmation Number: 61135878 Your Order Summary ITEM STATUS DELIVERY WEIGHTPRICE QTYTOTAL Multi-Mount Warehouse Barn In Stock 5 - 7 Business $149.99 Light - 16in. Dia.10.123$359.97 OnlineDays $119.99 Item# 19875 Total Product Savings $90.00 Total Weight (Pounds)30.36 Product Subtotal $359.97 Your order will be shipped: Product Discounts $0.00 Standard (UPS Ground) Original Shipping$17.21 View expected delivery times Shipping Adjustment$0.00 Shipping $17.21 Tax $23.58 Order Total $400.76 $400.76 Order total may not reflect special offers or promotions. Adjustments will be reflected on final invoice. Billing Address:Shipping Address: Claudia Cox Claudia Cox Entrust Professional Insurance Entrust Professional Insurance 210 W. Main Street 210 W. Main Street La Porte, Texas La Porte, Texas United States 77571 United States 77571 1 00690 05/16/2013 05/16/2013 Northern Tool*****400.76 *****400.76 *********400DOLLARS AND 76 CENTS** SignLights page2of3 Northern Tool , 000000000 outside lights NTLNorthern Tool1030069005/16/2013 GL Code Dpt Bill Date Amount Paid Vend Inv# 6042 GA 05/16/2013 $ 400.76 Betterments & Improve outside lights$400.76 NumberNorthern Tool NTL Vend Inv # Check #00690 Date05/16/2013 Amount$400.76 Descoutside lights PayeeNorthern Tool , 000000000 SignLights page3of3 Initial Application REQUEST FOR LA PORTE DEVELOPMENT CORPORATION BOARD AGENDA ITEM Agenda Date Requested:1/21/13 Appropriation Requested By:Traci E. Leach Source of Funds: Department:CMO Account Number:15-9892-993-1100 Report:XResolution:Ordinance: Amount Budgeted:$200,000 Amount Requested:$17,611 Exhibits:A.Applicationand Supplement YESNO Budgeted Item: B.Evaluation Summary SUMMARY & RECOMMENDATION In the 2008-09 budget year, the La Porte Development CorporationBoardagreed to fund an enhancement grant program for the Main Street Overlay District. The program offered matching grants of up to $25,000 for businesses in the Main Street District to improve building facades. The project was allotted $200,000and has $168,000 remaining. The goals of the project were to beautify Main Street, to enhance Main Street’s appeal to new businesses and visitors, and to add value to the City of La Porte. Ms. Claudia Coxhas submitted a grant application forEntrust Professional Insurance, located at 210 West MainStreet.The Enhancement Grant Application Committee met to discuss the application, and agreed that it should be approved for an amount not to exceed $17,611. The actual award will be one-half of the amount Ms.Coxspends on approved expenses for the project up to $17,611, and will be contingent upon the project being completed as indicated in this grant application. Attached is the application that Ms. Coxsubmitted, as well as additional clarification information on the cost breakdown, as requested by the evaluation committee. The committee recommends that the Board conditionally award a grant in an amount not to exceed $17,611, based on receipts and completion of work as indicated. Action Required by La PorteDevelopment CorporationBoard: Consider approval or other action ofa grant amount not to exceed $17,611forMs. Claudia Cox and Entrust Professional Insurance, to be awarded at the completion of the project, conditional upon receipts and completion of work as indicated. Approved for La Porte Development Corporation Board Agenda Corby D. Alexander, City ManagerDate REQUEST FOR LA PORTE DEVELOPMENT CORPORATION AGENDA ITEM Budget Agenda Date Requested: 10February 2014 Source of Funds: Requested By:Scott D. Livingston Account Number: Department: Administration/Economic Development Amount Budgeted: Report: Resolution:Ordinance: Amount Requested: Exhibits: Budgeted Item:YESNO Exhibits: Exhibits SUMMARY & RECOMMENDATION Staff is working with the Finance Department to add information to the monthly financial report and/or an addendum to the financial report to provide moreinformation on five (5)areas outlined below. The purpose of adding information to thefinancial report is to provide the 4B Board and staff with more information with which to prioritize and make future decisions on potential development in La Porte. Some of the information that staff is adding to the financial report is provided in this month’s financial report. Remaining information will be shown by the next4B Board meeting onMarch 24,2014. The information thatis being added to the financial report is as follows: 1 (1)Identify the outstanding (i.e. yet to be paid)project “Commitments” , as defined by an executed or pending development agreement,made to date. Currently, such commitments includethe following: Project Nebula$1 million 2 InterGulf Corporation$125,000 Rob Johnson Interests$106,000 Richard Industrial Group$ 15,000 DebtService Reserve$948,545 Notes: 1 Staff likes to refer to these as “Hard Commitments”. These are funds whichhave been “Committed” with an executed development agreement, and they are simply waiting to be paid. 2 $500,000 was committed, butonly$125,000 remains to be paid. (2)Identify thetotal amount of funds that have been committed to projects withouta development agreement. Staff likes to refer to these as “Soft Commitments” because these funds have been “set aside” or appropriated to various by a vote of the Board to represent the Board’s intent to address or entertain various types of projects like industrial development, workforce development, and revitalization on both Main Street and S. Broadway. However, these funds have not been “committed” to be paid by the Board to any project by an executed development agreement. For example: $175,000 a.(CIP #015-9892-707 for Project 707 –District Sector 23 Street Paving) $236,041 b.(CIP #015-9892-993 for Project 993--Façade Grants) $ 50,000 c.(#038-6030-565.99-97-“Workforce Training Incentives”) d.Other budgeted items for operations, payroll, marketing, advertising, trade shows, travel, office supplies, etc. (3)Identify the balance of cash on hand at such and such point in time (monthly snapshot) and showhow the figure was derived. (4)Identify the project cash on hand by the end ofthe current fiscal year.Please note that this figure would include budgeted expenses, debt service payments, grant commitments, and anticipated sales tax revenue to the end of the current fiscal year. (5)Identify the projected annual sales tax revenue for the next fiscal year. Most of the time, this figure will be a “flat” projection from the current sales tax revenue received in the current fiscal year. ------------------------------------------------------------- Again, the purpose of adding information to the financial report is to provide the 4B Board and staff with more information with which to prioritize and make future decisions on potential development locating in La Porte. Projects on the horizon, which may require a financial investment from the 4B Board, include the following: Retail Re-Development --Northeast corner of Fairmont Parkway and S. Broadway, Industrial inside the City --ACT Independent Turbo Service, Inc., Industrial inside the City --Warehouse distribution customer, Restaurant Development --On city-owned property on the on the bayfront. Action Required by the La Porte Development Corporation: None Approved for the La Porte Development CorporationAgenda Corby D. Alexander,City ManagerDate This is an Unaudited Statement. City of La Porte La Porte Development Corporation (038) Fund Summary (Section 4B Sales Tax) Previous ReportFY 2013-14FY 2012-13 Unaudited Beginning Fund Balance 9/30$2,768,155$2,768,155$2,196,935 Plus Year to Date Revenues: 1/2 Cent Sales Tax-207,035179,498 Interest Income9561,5601,659 Total Revenues956208,595181,157 Equals Total Resources2,769,1112,976,7502,378,092 Less Year to Date Expenditures: Payroll10,45515,87210,984 Supplies11466 Services & Charges (Memberships, Training, Advertising, Legal, Utilities)6,03520,50528,763 Debt Service Transfer158,091237,136102,515 * Capital Projects Transfers**12,83319,25031,250 Total Expenditures187,425292,809173,519 Estimated Year to Date Fund Balance$2,581,686$2,683,941$2,204,573 Commitments Project Nebula$1,000,000 Intergulf 125,000 Rob Johnson Interests 106,000 Richard Industrial Group 15,000 Debt Service Reserve 948,545 $2,194,545 Adjusted Year to Date Fund Balance$489,396 Previously Funded Projects (Funding in Fund 015 - General CIP Fund) BudgetExpendituresBalance District 23 Street Paving175,000-175,000 Façade Grants300,00063,959236,041 *Debt Service Payments for Library, Bay Area Boulevard & Canada Road and Ballfields. **Capital Project Transfer is for 1/2 of the Golf Course/Little Cedar Bayou Park Irrigation Sytstem.