FEDC allocates HOT Funds, extends deadlines

During its regular Aug. 10, 2017 meeting, the Forney Economic Development Corp. met and in summary:

• HOT funds:
  
  • City Attorney Thatcher reviewed requirements for HOT funds
    
  • Staff recommended $60k city requested, and $44.9k of $155k that organizations requested; $140k is available, about $35k would remain
    
  • Approved (numbers rounded off):
    
    • $19k of $31k for Arts Council
      
    • $9k of $21k for Downtown Business Assoc.
      
    • $3.7k of $72k for Lion's Club (staff had recommended 0)
      
    • $6k of $6k for Historic Preservation League
      
    • 0 of $14k for Garden Club
      
    • $11k of $11k for Sharing the Love - Turkey Trax

• Approved extensions for 117 E. Main, Eno's and Hampton Inn.

Details (this is the preliminary report, subject to change):

• Financial report - 83% yr, income 84%, expend 88%, Mr. Ketteman says the 25K is the money moved from fund balance to cover expenditures they approved.
  
• Directors report - a film crew of one was here to do promo for Forney, to be shown at city managers conference, interviewed Doe Bellys, Smurfit Kappa, FISD superintendent. Met teachers at FISD convocation. Loyalty card program still going, good feedback, have had winners, all city employees are eligible. Chmn McBeth asked about lunch w/ Sen. Hall staff - had specific conversations about transportation, also staff from US Sen. Cruz office. Mr. McGregor mentioned the grant for digital marketing seminar.
  
• HOT Fund applications -
  (details to be added...)
  Chmn McBeth reminds groups to attend city council meeting. he asks Mr. Thatcher about unused funds; they are in fund balance, can be available next year.
  
• Approved facade grant extension for 117 E. Main St. Mr. McGregor said grants were approved under old rules, approved extension in Apr for 3 months, they did some, but then the construction started.
  
• Pondered economic development in the Historic Overlay Zone
  Mr. Ketteman said Elenor worked on this, looking at a NEZ, already have an HOZ, could consider additional incentives in this area, many cities provide incentives for residential in an HOZ, Forney is one-sided in this regard, asking homeowner to conform without incentives. Mr. Ketteman suggests the old Presbyterian Church for possible funds.
  
• Approved amending the C.O. date for the performance agreement with Eno's Pizza Tavern 2, until Jan 31 2018
  Mr. Ketteman said Eno's is still coming, working and submitting plans, finding subcontractors, date of Sept 30, no way they can meet that, are sure will be done this year, recommends extending it to Jan. 31, 2018. This would require council approval. Ms. Brown asks if road construction will hinder them; no. Are they paying rent? no.
  
• Approved incentive extension for Formey RMKP, LLC (Hampton Inn) at 150 Regal until Dec. 31 with proof of financing by Sep. 30.
  Mr. Ketteman said the issue was finalizing financing, should be done next week, wants to start construction Sep 1, contract has Sep 30 date to be open, he recommends Dec. 31. Ms. Brown asks if they just have to have infrastructure in; yes. the 25k is for: after they get C.O. for hotel, if they pull permits for a fast-food restaurant within 6 months. Mr. Burrus suggested requiring proof of financing by Sep 30; Mr. Ketteman said the contract is still in effect until Sep 30.
  
• Held a 62-minute executive session re:
  
• Adjourned at 9:12.