HomeMy WebLinkAbout2016/09/20-Minutes-Fort Worth Local Development Corporation (FWLDC)CITY OF FORT WORTH, TEXAS
FORT WORTH LOCAL DEVELOPMENT CORPORATION
TUESDAY, SEPTEMBER 20, 2016
Present:
President Gyna Bivens
Vice President Cary Moon
Treasurer W. B. "Zim" Zimmerman
Secretary Dennis Shingleton
Trustee Jungus Jordan
Trustee Kelly Allen Gray
Trustee Ann Zadeh (Arrived at 2:11 p.m.)
Absent:
Trustee Betsy Price
Trustee Salvador Espino
City staff -
Jay Chapa, Assistant City Manager
Leann Guzman, Senior Assistant City Attorney
Mary J. Kayser, City Secretary
I. Call to Order.
With a quorum present President Bivens called the meeting to order for the Board of Directors of
the Fort Worth Local Development Corporation (Corporation) at 2:06 p.m. on Tuesday,
September 20, 2016, in the Pre -Council Chamber of the Fort Worth Municipal Building, 1000
Throckmorton Street, Fort Worth, Texas.
II. Approval of Minutes from the Meeting Held on June 7, 2016.
Motion was made by Trustee Jordan and seconded by Trustee Moon to approve the
June 7, 2016, minutes of the Corporation. The motion passed 6-0. (Trustees Price, Espino and
Zadeh absent.)
III. Written Reports: Fort Worth Local Development Corporation Financial Report
through July 30, 2016.
A. Financial Report through July 30, 2016
B. Update on listing agreement with Vasseur Commercial Real Estate, Inc., for property
located at 4700 Blue Mound Road
There was no discussion or action on these items.
(Trustee Zadeh assumed her place at the table.)
IV. Action Items
A. Consider and Adopt a Resolution Approving the Budget for the 2017 Fiscal Year
CITY OF FORT WORTH, TEXAS
FORT WORTH LOCAL DEVELOPMENT CORPORATION
TUESDAY, SEPTEMBER 20, 2016
PAGE 2
Ms. Ana Alvarado, Economic Development Manager, provided a PowerPoint presentation which
summarized the Board's FY 2016 expenditures and then advised of FY 2017 projected revenues
and expenditures. She completed her presentation by stating that staff recommended that the
Board approve the budget as presented for the Fort Worth Local Development Corporation for
Fiscal Year 2017.
Motion was made by Trustee Shingleton, and seconded by Trustee Allen Gray, to approve
Resolution No. FWLDC-2016-10, Approving the Budget for the 2017 Fiscal Year. The motion
carried 7-0. (Trustees Price and Espino absent.)
B. Consider and Adopt a Resolution Authorizing the Outside Audits of the Fort Worth
Local Development Corporation's and Central City Local Government Corporation's
Financial Accounts by Weaver and Tidwell, LLP or an Affiliate; and Authorize the
Execution of Agreement with Weaver and Tidwell, LLP.
There was no staff presentation on this item.
Motion was made by Trustee Jordan, and seconded by Trustee Zimmerman, to approve
Resolution No. FWLDC-2016-11, Authorizing the Outside Audits of the Fort Worth Local
Development Corporation's and Central City Local Government Corporation's Financial
Accounts by Weaver and Tidwell, LLP or an Affiliate; and Authorize the Execution of
Agreement with Weaver and Tidwell, LLP. The motion carried 7-0. (Trustees Price and Espino
absent.)
V. Executive Session: President Bivens stated that she had been advised that an Executive
Session was not necessary.
A. Seek the advice of its attorneys concerning the following items that are exempt from
public disclosure under Article X, Section 9, of the Texas State Bar Rules, as
authorized by Section 551.071 of the Texas Government Code: (i) legal issues
concerning any current agenda item; and
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.
VI. Requests for Future Agenda Items.
Trustee Moon requested information on previous development by FWLDC and what the future
plans are for the FWLDC.
VII. Adjourn.
With no further discussion, President Bivens adjourned the meeting of the Fort Worth Local
Development Corporation Board at 2:26 p.m. on Tuesday, September 20, 2016.
CITY OF FORT WORTH, TEXAS
FORT WORTH LOCAL DEVELOPMENT CORPORATION
TUESDAY, SEPTEMBER 20, 2016
PAGE
These minutes approved by the Fort Worth Local Development Corporation Board of Directors
on the 151h day of November, 2016.
OVED:
Gyna BWiens
President
Prepared and respectfulLy-submitted by:
Mary J.
City Sei