Forney EDC considers detention pond maint, property sale

During its regular August 11, 2016 meeting, the Forney Economic Development Corp. (EDC) met and (this is a preliminary report, subject to revision):

• Financial report - Mr. Burrus said the Fiscal Year is 83.3% complete, continue to have tax revenue significantly ahead, about 87%, expenditures higher due to front-loaded expenses, on track to be in budget for the year.
  
• Directors' report - Mr. Ketteman said staff has had talks with USDA reps and Mr. Stroman from Talty about providing sanitary sewer, possibly on W. Broad St., N. side of Hwy 80, and what programs may be available from the USDA. He also said an industrial spec-builder may be interested in the area.
  
• Discussed listing 0.75 acres of FEDC-land located at the northeast corner of Chestnut and Main Street with a local commercial real estate agent.
  Mr. Ketteman briefed the board on the property - it was purchased when main street was extended, the city owns the corner piece. Staff solicited the two local realtors that do commercial property. He said the EDC is required to have an appraisal done, but is not bound by it - they may set the selling price at whatever they want, unlike the city, which must sell at fair value or more.
  Based on lower fees, the board selected Kyle Properties.
  
• Discussed a contractual agreement for EDC-owned detention pond maintenance.
  This is the same 13.5 acres behind Wal-Mart & Lowes that was tabled at the last meeting.
  Based on RNCs good results in the past, and the lowest price, selected RNC Hydromulch.
  
• Held an 85-minute Executive Session
  
• Took no action, and adjourned.