HomeMy WebLinkAbout2020/12/15-Agenda-AllianceAirport Authority (AAA) ALLIANCEAIRPORT AUTHORITY, INC.
Tuesday, December 15, 2020
1:00 P.M
City Council Conference Room 2020, Second Floor
City Hall
200 Texas Street
Fort Worth, Texas 76102
Viewing Only
Television: Charter 190; One Source 7; Verizon 5; AT&T Uverse 99
City of Fort Worth Website Homepage: Watch Live Online
Board of Directors
Jungus Jordan, President Kelly Allen Gray, Director Carlos Flores, Director
Brian Byrd, Director Gyna M. Bivens, Director Cary Moon, Director
Ann Zadeh, Director Betsy Price,Director Dennis Shingleton, Vice President
Staff Liaison: Jay Chapa,Deputy City Manager
Tyler Wallach, Senior Assistant City Attorney
Reginald Zeno, Treasurer
Mary Kayser, Secretary
I. CALL TO ORDER
IL WRITTEN REPORTS
A. Financial Report through October 2020
III. BRIEFINGS
A. None
IV. PRESENTATIONS
A. Update on Gulfstream MRO Project—Robert Sturns, Director of Economic
Development
V. ACTION ITEMS
A. Consideration of September 22, 2020 Meeting Minutes
B. Consideration of a Resolution Authorizing the Transfer of$737,234.95 in
Excess Funds to the City of Fort Worth - Robert Sturns, Director of Economic
Development
VI. EXECUTIVE SESSION
The Board of Directors of AllianceAirport Authority, Inc. may conduct a closed meeting
to:
A. Seek the advice of its attorneys about any matter regarding the following in
which the duty of the attorney under the Texas Disciplinary Rules of
Professional Conduct of the State Bar of Texas clearly conflicts with the Texas
Open Meetings Act[Tex. Govt. Code §551.071]: (i) legal issues related to any
current agenda items
B. Discuss the purchase, sale, lease or value of real property, as authorized by
Section 551.072 of the Texas Government Code. Deliberation in an open
meeting would have a detrimental effect on the position of the Corporation in
negotiations with a third party; and
C. Discuss or deliberate negotiations relating to any economic development
negotiations, as authorized by Section 551.087 of the Texas Government
Code.
VIL FUTURE AGENDA ITEMS
A. Request for Future Agenda Items
VIIL ADJOURN
ASSISTANCE AT THE PUBLIC MEETING
The Fort W orthCity Hall and City Council Conference Room are wheelchair accessible. Persons with disabilities who plan to attendthis meeting
and who may need accommodations,auxiliary aids,or services such as interpreters,readers,or large print are requested to contact the City's ADA
Coordinator at(817)392-8552 or e-mail ADA(aFortW orthTexas.eov at least 48 hours prior to the meeting so that appropriate arrangements can
be made. If the City does not receive notification at least 48 hours prior to the meeting,the City will make a reasonable attempt to provicb the
necessary accommodations at least two working days prior to the meeting so that appropriate arrangements can be made.
10:03 AM AllianceAirport Authority, Inc.
11/20/20
Accrual Basis Balance Sheet
As of October 31, 2020
Oct 31, 20
ASSETS
Current Assets
Checking/Savings
Chase - Operating 225,773.54
Chase - Reserve 250,000.00
Southwest - Savings 252,100.35
Total Checking/Savings 727,873.89
Other Current Assets
Accts Receivable 8,568.85
Total Other Current Assets 8,568.85
Total Current Assets 736,442.74
TOTAL ASSETS 736,442.74
LIABILITIES & EQUITY
Equity
Retained Earnings 737,150.95
Net Income (708.21)
Total Equity 736,442.74
TOTAL LIABILITIES & EQUITY 736,442.74
Page 1 of 1
9:59 AM AllianceAirport Authority, Inc.
11/20/20
Accrual Basis Profit & Loss
October 2020
Oct 20
Ordinary Income/Expense
Income
Gas Lease Royalties (792.21)
Investments
Interest-Savings, Short-term CD 84.00
Total Investments 84.00
Total Income (708.21)
Net Ordinary Income (708.21)
Net Income (708.21)
Page 1 of 1
10:06AM AllianceAirport Authority, Inc.
11/20/20
Accrual Basis Trial Balance
As of October 31, 2020
Oct 31, 20
Debit Credit
Chase - Operating 225,773.54
Chase - Reserve 250,000.00
Southwest - Savings 252,100.35
Accts Receivable 8,568.85
Land
Accounts Payable
Retained Earnings 737,150.95
Gas Lease Royalties 792.21
Investments:lnterest-Savings, Short-term CD 84.00
TOTAL 737,234.95 737,234.95
Page 1 of 1
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CITY OF FORT WORTH,TEXAS
CITY COUNCIL
ALLIANCEAIRPORT AUTHORITY,INC.
SEPTEMBER 22,2020
Present:
President Jungus Jordan
Vice President Dennis Shingleton
Director Carlos Flores
Director Gyna Givens (Video)
Director Cary Moon(Video)
Director Brian Byrd
Director Kelly Allen Gray (Video)
Director Ann Zadeh (Video)
Absent:
Director Betsy Price
City Staff:
Tyler Wallach, Senior Assistant City Attorney
Jay Chapa, Deputy City Manager
Reginald Zeno, Treasurer
Mary J. Kayser, City Secretary
I. Call to Order
With a quorum of the directors present, President Jordan called the meeting to order for the Board
of Directors of the AllianceAirport Authority, Inc., at 1:00 p.m. on Tuesday,
September 22, 2020, in the City Council Conference Room, Room 2020 of the Fort Worth
Municipal Building, 200 Texas Street, Fort Worth, Texas.
II. Action Items
a. Approval of August 18, 2020,meeting minutes
Motion was made by Director Byrd and seconded by Director Shingleton to approve the minutes
of the August 18, 2020, AllianceAirport Authority, Inc., meeting. Motion carried 7-0 (Directors
Price and Flores absent).
b. Authorize a Resolution to Execute an Agreement with Weaver and Tidwell,LLP for Fiscal
Year 2020 Financial Review as part of the City of Fort Worth's Annual Financial Audit
Not to Exceed $3,000.
Mr. Jay Chapa,Deputy City Manager,provided a staff report and noted that the cost would be zero
dollars.
CITY OF FORT WORTH,TEXAS
ALLIANCEAIRPORT AUTHORITY,INC.
SEPTEMBER 22,2020
Page 2 of 2
Motion was made by Director Shingleton and seconded by Director Byrd, to approve Resolution
No.AAA-2020-02,Authorizing a Resolution to Execute an Agreement with Weaver and Tidwell,
LLP for Fiscal Year 2020 Financial Review as part of the City of Fort Worth's Annual Financial
Audit Not to Exceed$0.00 (zero dollars). The motion carried 8-0 (Director Price absent).
III. Written Reports
a. Financial Report through July 2020
This report was for informational purposes.
IV. Executive Session
There was no Executive Session.
V. Future Agenda Items
There were no requests for future agenda items.
VI. Adjourn
With no further business before the Corporation Board, President Jordan adjourned the meeting of
the AllianceAirport Authority, Inc., at 1:03 p.m. on Tuesday, September 22, 2020.
These minutes approved by the A1lianceAirport Authority, Inc., on the of , 2020.
APPROVED:
Jungus Jordan, President
Minutes Prepared by and Attest:
Mary J. Kayser, TRMC/MMC
Secretary to the Corporation Board
Resolution
Date: December 15, 2020
RESOLUTION
BOARD OF DIRECTORS
ALLIANCEAIRPORT AUTHORITY, INC.
Authorizing the Transfer of up to$737,234.95 in Excess Funds to the
City of Fort Worth for General Use
WHEREAS, AllianceAirport Authority, Inc. ("Corporation") is an industrial
development corporation created in 1989 to benefit the City of Fort Worth ("City") and to, among
other things, issue bonds to promote and develop new and expanded business enterprises in the
City, to promote and encourage employment, and otherwise to benefit the public welfare in
accordance with the Development Corporation Act of 1979, as amended;
WHEREAS, Article Eleven of the Corporation's Articles of Incorporation provides that
any net earnings of the Corporation that are not otherwise obligated by the Corporation will be
paid to the City;
WHEREAS, the Bylaws of the Corporation authorize the Board of Directors ("Board")
to exercise all powers of the Corporation;
WHEREAS,in accordance with the Corporation's lawful authority and in accordance with
the Corporation's stated purpose and obligations, as set forth in its Articles of Incorporation, the
Board of Directors wishes to transfer $737,234.95 of the Corporation's excess funds to the City
for general use.
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD:
Section 1. That the Board authorizes the transfer of$737,234.95 of the Corporation's
excess funds to the City for general use.
Section 2. That the President of the Board is authorized to sign this Resolution on the
Board's behalf.
Section 3. That this Resolution shall take effect immediately from and after its passage.
By:
Jungus Jordan
President
Attest:
Mary Kayser
Corporate Secretary
Resolution ofAllianceAirport Authority
Transferring Money to City of Fort Worth forTaxilane H 1 of 1