notice of meeting of the copperas cove ......development corporation. 2. consideration and action on...

NOTICE OF MEETING

OF THE COPPERAS COVE ECONOMIC DEVELOPMENT CORPORATION

Notice is hereby given that the Regular Meeting of the Copperas Cove Economic Development

Corporation will be held on May 22, 2019 at 12:00 p.m. in the Technology Center at 508 S. 2nd

Street, Copperas Cove, Texas 76522 at which time the following agenda will be discussed.

An agenda information packet is available for public inspection on the Copperas Cove Economic Development’s website, www.copperascove-edc.com,

under the “About CCEDC and Meetings and Agendas” tab.

A. CALL TO ORDER

B. INVOCATION AND PLEDGE OF ALLEGIANCE

C. ROLL CALL

D. ANNOUNCEMENTS

E. CITIZENS FORUM

At this time, citizens will be allowed to speak on any matter other than personnel matters,

matters under litigation, or matters on the regular agenda, for a length of time not to exceed five

minutes per person. Thirty minutes total has been allotted for this section.

F. CONSENT AGENDA

All matters listed under this item are considered to be routine by the EDC Board of Directors

and will be enacted by one motion. There will not be separate discussion of these items. If

discussion is desired, that item will be removed from the consent agenda and considered

separately.

1. Consideration and action on approval of minutes for the Workshop Meeting held on April 24,

2019. Brittany Sanders, Administrative Assistant, Copperas Cove Economic

Development Corporation.

2. Consideration and action on approval of minutes for the Regular Board Meeting held on April

24, 2019. Brittany Sanders, Administrative Assistant, Copperas Cove Economic


G. PUBLIC HEARING

http://www.copperascove-edc.com/

H. ACTION ITEMS

1. Consideration and action on authorizing the release of funds to the City of Copperas Cove for charges to the CCEDC for services rendered, as agreed upon, by various City employees for

the month of April, 2019. Velia Key, Director of Financial Services

2. Consideration and action on approving the unaudited financial report of the Copperas Cove Economic Development Corporation for the month of April, 2019. Velia Key, Director of

Financial Services

3. Consideration and action on a resolution accepting the quarterly investment report as presented for the quarter ending April 2019 per the Investment Policy. Velia Key, Director of

Financial Services

4. Discussion and direction on the participation in the regional DEAAG (Defense Economic

Adjustment Assistance Grant) matching funds requirement. Ryan Haverlah, Interim City

Manager

5. Consideration and action on accepting a bid for the demolition of the building owned by the

Copperas Cove EDC located at 201 S. 2nd Street, Copperas Cove. Diane Drussell,

Assistant Director, Copperas Cove EDC.

6. Consideration and action on accepting a proposal from Endeavor Real Estate for the

purchase of the digital sign owned by the Copperas Cove EDC. Diane Drussell, Assistant

Director, Copperas Cove EDC.

7. Discussion and direction on scheduling a date for the Board/Staff Strategic Planning Session. Jonas Titas, Executive Director, Copperas Cove EDC.

8. Consideration and action on electing a new Vice Chairman to replace Christian Mulvey who resigned in January of 2019. Adam Martin, Chairman, Copperas Cove EDC

I. REPORTS FROM STAFF, OUTSIDE ENTITIES, ADVISORY COMMITTEES AND BOARDS

J. ITEMS FOR FUTURE AGENDAS

K. EXECUTIVE SESSION

L. RECONVENE INTO OPEN SESSION FOR POSSIBLE ACTION RESULTING FROM

ANY ITEM POSTED AND LEGALLY DISCUSSED IN EXECUTIVE SESSION.

M. ADJOURN

The Board of Directors reserves the right to adjourn into Executive Session at any time regarding any

issue on this agenda for which it is legally permissible.

The Technology Building is wheelchair accessible and accessible parking spaces are available. Requests

for accommodations or interpretive services must be made 48 hours prior to the meeting. Please contact

the City Secretary at (254) 547-4221 or FAX (254) 542-8927 for information or assistance.

I, the undersigned authority, do hereby certify that the above Notice of Meeting of the Governing Body of the Copperas Cove Economic Development Corporation was posted at 5:00 p.m. May 17, 2019, inside the Display Case of the Copperas Cove Economic Development Corporation, 113 W. Avenue D, Copperas Cove, Texas, a place convenient and readily accessible to the general public at all times.

Jonas Titas, Executive Director, Copperas Cove EDC

Economic Development Corporation F.1.

Meeting Date: May 22, 2019

Contact: Brittany Sanders, Administrative Assistant, Copperas Cove Economic Development Corp.

Subject: Consideration and action on approval of minutes for the Workshop Meeting held on April 24, 2019. Brittany Sanders, Administrative Assistant, Copperas Cove Economic Development Corporation.

Attachments:

April 24, 2019 Workshop Meeting Minutes

DRAFT

A. CALL TO ORDER Chairman Adam Martin called the Workshop Meeting of the Copperas Cove Economic

Development Corporation to order at 11:30 A.M. B. ROLL CALL Roll call led by Administrative Assistant, Brittany Sanders. Present: Adam Martin, Chairman Jeremy Tate, Secretary Marcie Lowery, Director

Joey Acfalle, Director Others Present: Ryan Haverlah, Interim City Manager Jonas Titas- Executive Director-EDC Diane Drussell, Interim Director – EDC

C. WORKSHOP ITEM

1. Discussion regarding Board members of the Copperas Cove Economic Development Corporation residing in the ETJ (Extra-Territorial Jurisdiction).

Presented by Charlie Youngs, Council Liaison

Charlie Youngs, EDC Council Liaison, gave an overview of Agenda Item C1. After discussions, no further direction was given on Board members of the Copperas Cove Economic Development Corporation residing in the ETJ (Extra-Territorial Jurisdiction).

D. ADJOURN Chairman Adam Martin adjourned the meeting at 11:45 A.M

Jeremy Tate, Secretary ATTEST:

Jonas Titas, Executive Director

COPPERAS COVE ECONOMIC DEVELOPMENT CORPORATION

Workshop Meeting Minutes of April 24, 2019

Minutes Order #2019-(04)-(24)

Economic Development Corporation F.2.


Contact: Brittany Sanders, Administrative Assistant, Copperas Cove Economic Development Corp.

Subject: Consideration and action on approval of minutes for the Regular Board meeting held on April 24, 2019. Brittany Sanders, Administrative Assistant, Copperas Cove Economic Development Corporation.

Attachments:

April 24, 2019 Regular Meeting Minutes

DRAFT

Page 1 of 3

A. CALL TO ORDER Chairman Adam Martin called the regular meeting of the Copperas Cove Economic Development

Corporation to order at 12:00 P.M.

B. INVOCATION AND PLEDGE OF ALLEGIANCE Director Joey Acfalle led the Invocation and the Pledge of Allegiance.

C. ROLL CALL Roll call led by Administrative Assistant, Brittany Sanders. Present: Adam Martin, Chairman Absent: Jeremy Tate, Secretary Marcie Lowery, Director

Joey Acfalle, Director Others Present: Ryan Haverlah, Interim City Manager Jonas Titas- Executive Director-EDC Diane Drussell, Interim Director – EDC D. ANNOUNCEMENTS

Administrative Assistant provided information on the following items:

Asst. Director Diane Drussell graduated OU EDI- April 9,2019

Exec. Director & Asst. Director attended the Multi-modal Feasibility Project Meeting- April 19,2019

Chamber Mixer- April 25, 2019

Special Election Day- April 27, 2019

Pacific Tanning 15 Year Anniversary- April 27, 2019

4th Annual Spring Stand Down- April 27, 2019

Knights of Columbus Golf Tournament- April 27, 2019

Zumba Fest- April 27, 2019

Charity Pool Tournament- April 30, 2019

Law Enforcement Torch Run- April 30, 2019

Jackrabbit Run- May 11,2019

COPPERAS COVE ECONOMIC DEVELOPMENT CORPORATION

Meeting Minutes of April 24, 2019 Minutes

Order #2019-(04)-(24)

DRAFT

Page 2 of 3

E. CITIZENS FORUM

At this time, citizens will be allowed to speak on any matter other than personnel matters,

matters under litigation, or matters on the regular agenda, for a length of time not to exceed five minutes per person. Thirty minutes total has been allotted for this section.

None at this time

F. CONSENT AGENDA - All matters listed under this item are considered to be routine by the EDC

Board of Directors and will be enacted by one motion. There will not be separate discussion of

these items. If discussion is desired, that item will be removed from the consent agenda and

considered separately.

1. Consideration and action on approval of minutes for the Regular Board Meeting held on April 24, 2019. Brittany Sanders, Administrative Assistant, Copperas Cove Economic


Director Marcie Lowery made a motion to approve Agenda Items F1. Director Joey Acfalle

seconded that motion and with a unanimous vote, motion carried

G. PUBLIC HEARINGS None at this time H. ACTION ITEMS

1. Consideration and action on authorizing the release of funds to the City of Copperas Cove for charges to the CCEDC for services rendered, as agreed upon, by various City employees for the month of March, 2019. Velia Key, Director of Financial Services

Director Joey Acfalle made a motion to approve Agenda Item H1. Director Marcie Lowery


2. Consideration and action on approving the unaudited financial report of the Copperas Cove

Economic Development Corporation for the month of March, 2019. Velia Key, Director of Financial Services

Director Marcie Lowery made a motion to approve Agenda Item H2. Director Joey Acfalle


3. Discussion and Direction on the EDC owned building located at 201 S. 2nd Street, Copperas

Cove TX, Diane Drussell, Executive Director, Copperas Cove Economic Development

Corporation

Diane Drussell, Assistant Director presented for discussion and direction on the EDC owned

building located at 201 S. 2nd Street, Copperas Cove TX. Direction was given by Adam Martin,

Chairman to add item H3 to the next agenda for action to be taken.

DRAFT

Page 3 of 3

4. Discussion and possible direction regarding the EDC Bylaws pursuant to April 24 EDC Workshop Jonas Titas, Assistant Director, Copperas Cove Economic Development Corporation

Jonas Titas, Executive Director review and presented the EDC Bylaws, no direction was

given at this time.

5. Consideration and action of assigning another board member as a check signer. Jonas Titas,

Executive Director, Copperas Cove Economic Development Corporation

Director Marcie Lowery made a motion to assigned Director Joey Acfalle to be an authorized

check signer. Director Marcie Lowery made a motion to approve Agenda Item H5. Chairman

Adam Martin seconded that motion and with a unanimous vote, motion carried

I. REPORTS FROM STAFF, OUTSIDE ENTITIES, ADVISORY COMMITTEES AND BOARDS

None requested at this time J. ITEMS FOR FUTURE AGENDAS Chairman Adam Martin requested another quote for the property located at 201 S. 2nd Street with

a request to consider options for demolition.

K. EXECUTIVE SESSION

1. Pursuant to §551.074 of the Open Meetings Act, Texas Government Code, the

Economic Development Corporation Board will meet in Executive Session for

deliberation regarding CCEDC Board Applications.

L. RECONVENE INTO OPEN SESSION FOR POSSIBLE ACTION RESULTING FROM ANY

ITEM POSTED AND LEGALLY DISCUSSED IN EXECUTIVE SESSION.

Chairman Adam Martin called the meeting into Executive Session for item K1 at 12:23 p.m.

Chairman Adam Martin reconvened into open session at 12:46 p.m., no action was takin in

Executive Session

M. ADJOURN Chairman Adam Martin adjourned the meeting at 12:47 P.M.

Jeremy Tate, Secretary ATTEST: Jonas Titas, Executive Director

Economic Development Corporation H.1.


Contact: Velia Key, Director of Financial Services.

Subject: Consideration and action on authorizing the release of funds to the City of Copperas Cove for charges to the CCEDC for services rendered, as agreed upon, by various City employees for the month of April, 2019. Velia Key, Director of Financial Services Description/Information:

Effective October 1, 2018, the CCEDC transitioned away from being under the direction of the City Manager. The CCEDC and the City have an agreement to pay City staff for services performed, to include the financials. Furthermore, several members of City staff performed services directly benefiting the CCEDC and its operations during the month of April, 2019. State law requires the CCEDC to reimburse the City for services rendered on behalf of the Corporation. Financial Impact:

The invoice is attached for Board review represents hours for services performed by City Staff as per an agreement between the CCEDC and the City. The total invoiced amount is $441.31 for the month of April, 2019. Action/Recommendation:

EDC staff recommends the Board authorize the release of funds to the City for services rendered directly benefiting the CCEDC during the month of April 2019.

Attachments:

EDC April 2019 Invoice




Subject: Consideration and action on approving the unaudited financial report of the Copperas Cove Economic Development Corporation for the month of April 2019. Velia Key, Director of Financial Services Description/Information:

The Financial report for April, 2019 has been prepared by the Finance Department as per the agreement between the CCEDC and the City. The report is attached for review by the Board. Financial Impact:

See the attached unaudited financial report. Action/Recommendation:

EDC staff recommends the Board approve the unaudited financial report for April, 2019 as

presented by Velia Key, Director of Financial Services.

Attachments:

April 2019 Unaudited Financial Report

“The City Built for Family Living” Finance Department May 16, 2019 Mayor, City Council Members and Board of Directors of the Copperas Cove Economic Development Corporation: The Finance Department is pleased to submit the Unaudited Monthly Financial Report for the month of April 2019. The Finance Department performs all financial services for the Economic Development Corporation. The month of April includes two payroll runs for the employees. The employees received their payroll checks on April 5, 2019, and April 19, 2019. Total expenditures for the month of April 2019, include 39 disbursements to various vendors. All supporting documentation is available for review at the City’s Finance Department. As of April 30, 2019, the Economic Development Corporation investment portfolio consisted of bank deposits with National United Bank and Texpool. Total cash available at month end was $6,049,453. Interest earned during this month equals to $11,298, which is an increase of $4,360 in comparison to $6,938 earned in prior year 2018. We anticipate regular monitoring of the Economic Development Corporation’s financial position and we will continue to provide the City Council and the Board of Directors with information that is useful for making sound policy decisions. Respectfully submitted, Velia Key- Dir. of Financial Services

P.O. Drawer 1449 914 South Main Street Copperas Cove, Texas 76522 (254) 547-4221 (254) 547-2800

www.copperascovetx.gov

http://www.copperascovetx.gov/

Copperas Cove Economic Development CorporationPortfolio Summary Management Report

For the Month Ended April 30, 2019

All cash balances were deposited at National United Bank and TexPool

Portfolio as of April 30, 2018

Operating Account…………………$405,259

TexPool…………..………………….$4,961,718

Portfolio as of April 30, 2019

Operating Account……………… $531,245

TexPool Account…………………...$5,518,208

Copperas Cove Economic Development CorporationPortfolio Allocation Analysis

Operating7.6%

TexPool92.4%

Fiscal Year 2017-18April 2018

Operating8.8%

TexPool91.2%

Fiscal Year 2018- 2019April 2019

Copperas Cove Economic Development Corporation Unaudited Financial Report

April 30, 2019

OPERATING REVENUES AND EXPENDITURES • Year-to-date total revenue exceeded expenditures by $565,277.

• Total Sales Tax Allocation received from the City $104,489.

• Interest earnings received for the month of April was $11,298.

• Total Operating and Debt Service Expenditures for the month of April amount to

$32,825.

• Salary and benefits for the month of April 2019 amounted to $13,770. This amount includes the salaries and benefits for three full time employees.

• The A/P runs during the month of April 2019 include the following disbursements: Check # Payee Amount Description

000278 Killeen Daily Herald $88.00 Annual Renewal 000279 Konica Minolta $61.28 Service Period:

2/24/19-3/23/19 000280 Philadelphia

Insurance $781.10 Monthly Premium

000281 Wal-Mart Community

$71.23 Snacks & Refreshments

000282 The Knight Law Firm

$1,525.35 February Invoice

000283 Duane E. Lavery $1,028.84 Travel Reimbursement

000284 Jonas Titas $273.71 Travel Reimbursement

000285 City of Copperas Cove

$2,262.61 January & February Invoice

000286 Konica Minolta $166.63 Copier 000287 TopSarge Business

Solution $200.00 Website

Maintenance 000288 City of Copperas

Cove $573.28 Medical Insurance


$728.74 TMRS Contribution


$573.28 Medical Insurance


$1,238.40 TMRS Contribution

000292 The Daisy $90.88 Flowers (funeral) 000293 TXU Energy $364.18 Service Period:

2/28/19-3/30/19

000294 United Way $10.00 EE Contribution 000295 CenturyLink $143.90 Service Period:

4/10/19-5/9/19 000296 City of Copperas

Cove $33.73 Utilities

2/28/19-4/1/19 000297 Dynamic Design $238.00 Business Cards 000298 Pristine Building

Maintenance $322.50 Janitorial Services

000299 Killeen Pest Control $55.00 April Services 000300 Chloe R. Johnson $6,000.00 Executive Search 000301 Kevin Alan Keller $100.00 Lawn care service

for 113 W. Ave. D & 201 S. 2nd St.

000302 CTFH Chapter AUSA

$250.00 Golf Sponsorship

000303 Card Service Center

$2,142.08 LoopNet Adv. postage, sponsorship, & board meals

000304 Diane Drussell $322.14 Exp. Reimbursement

000305 Centex Technologies

$85.00 IT services

000306 McMullin Property Management

$1,600.00 May Rent

000307 Spectrum $115.42 Service Period: 4/12/19-5/11/19

000308 Wal-Mart $29.64 Gift Card 000309 In House System $39.99 Alarm System

Monitoring 000310 City of Copperas

Cove $573.28 Medical Insurance


$1,599.39 TMRS Contribution

000312 Centex Technology $75.00 IT services 000313 CC Lions Club $500.00 Membership Dues 000314 Konica Minolta $127.42 Service Period:

3/24/19-4/23/19 000315 Konica Minolta $183.29 Copier 000316 Larry Letzer $75.00 EE Portrait

ECONOMIC DEVELOPMENT CORPORATION MONTHLY FINANCIAL REPORT

AS OF APRIL 30, 2019 (FY 2018-2019)

Current Current Month TotalDescription Budget Apr. 2019 Year to Date

BEGINNING FUND BALANCE Unassigned 5,700,796$ 6,183,111$ 5,700,796$ TOTAL BEG. FUND BALANCE 5,700,796$ 6,183,111$ 5,700,796$ REVENUES:

TaxesSales Tax 1,279,871$ 104,489$ 743,982$

Subtotal Taxes 1,279,871$ 104,489$ 743,982$

Investment EarningsInterest Revenue 46,800$ 11,298$ 74,865$

Subtotal Investment Earnings 46,800$ 11,298$ 74,865$

TOTAL REVENUES 1,326,671$ 115,787$ 818,847$

TOTAL FUNDS AVAILABLE 7,027,467$ 6,298,898$ 6,519,643$

EXPENDITURES Administration

Personnel ServicesSalaries 280,205$ 10,150$ 52,385$ Longevity 361 22 144 Fica Tax 21,463 785 3,826 Employee Insurance 29,304 539 3,305 Workers Compensation 856 - - Retirement 35,723 1,317 6,597 Other Personnel Expenses 14,480 957 1,535

Total Personnel Services 382,392$ 13,770$ 67,792$

Supplies & MaterialsOffice Supplies 1,137$ 52$ 1,137$ Cleaning Supplies 180 - 58 Printing Cost 1,400 189 536 Postage 400 55 192 Recruiting/Hiring Cost 18,928 8,090 18,928 Furniture & Fixture 2,106 - 2,105

Total Supplies & Materials 24,151$ 8,386$ 22,956$

Maintenance & RepairsRepair & Maintenance Building 6,700$ 667$ 3,382$ Repair & Maintenance Facility 350 - 350 Repair & Maintenance software 17,876 16 17,874

Total Maintenance & Repairs 24,926$ 683$ 21,606$


AS OF APRIL 30, 2019 (FY 2018-2019)


Expenditures (cont.)Contractual ServicesConsulting Services 36,000$ 1,525$ 10,042$ Bank Analysis Charge 1,200 - - Communication 3,720 259 3,524 Rental of Equipment 2,004 350 1,201 Rental of Property 19,200 1,600 11,200 Dues & Subscription 5,500 588 4,088 Contract Labor 2,200 200 2,000 Professional Development 21,200 222 6,980 Professional Services 7,700 - - Provided City Services 16,804 2,263 4,889 Utilities 5,400 398 2,507

Total Contractual Services 120,928$ 7,405$ 46,431$

Designated ExpensesInsurance 8,327$ 781$ 5,199$ Public Relations 4,750 1,415 3,269

Total Designated Expenses 13,077$ 2,196$ 8,468$

TOTAL ADMINISTRATION EXPENDITURES 565,474$ 32,440$ 167,253$

Non-DepartmentalSupplies & MaterialsProgram/Project Supply 4,200$ -$ 28$

Total Supplies & Materials 4,200$ -$ 28$

Contractual ServicesAdvertising 5,400$ 125$ 1,281$ Dues and Subscriptions 7,750 - 7,750 Contract Labor 1,655 260 1,655 Business Attraction 91,624 - 1,014 Professional Services 51,000 - 41,144

Total Contractual Services 157,429$ 385$ 52,844$

Capital OutlayLand 2,000,000$ -$ -$

Total Capital Outlay 2,000,000$ -$ -$

TOTAL NON-DEPARTMENTAL EXPENDITURES 2,161,629$ 385$ 52,872$


AS OF APRIL 30, 2019 (FY 2018-2019)


Expenditures (cont.)

Debt ServiceCapital OutlayReliever Route Infrastructure 133,125$ -$ 6,563$

Total Capital Outlay 133,125$ -$ 6,563$

OtherPrincipal 01 Sales Tax 60,000$ -$ -$ Principal 12 Sales Tax 35,000 - - Interest 01 Sales Tax 10,764 - 5,377 Interest 12 Sales Tax 43,012 - 21,505

Total Other 148,776$ -$ 26,882$

TOTAL DEBT SERVICE EXPENDITURES 281,901$ -$ 33,445$

TOTAL EXPENDITURES 3,009,004$ 32,825$ 253,570

ENDING FUND BALANCE 4,018,463$ 6,266,073$ 6,266,073$




Subject:

Consideration and action on a resolution accepting the quarterly investment report as presented for the quarter ending March 31, 2019 per the Investment Policy. Velia Key, Director of Financial Services

Description/Information:

The Public Funds Investment Act of Chapter 2256, Texas Government Code, requires investment management reports to be accepted by the Board. The Copperas Cove Economic Development Corporation's Investment Policy requires that the Investment Officer shall report, a detailed listing of all purchases, sales and payments, and a description of each security held as well as management summary information.

Financial Impact:

See attached quarterly investment report for the month ending on March 31, 2019.

Action/Recommendation:

EDC staff recommends that the Board approves Resolution 2019-01 accepting the quarterly investment report as presented for the quarter ending March 31, 2019 per the Investment Policy.

Attachments:

March 2019, Quarterly investment report

Quarterly Investment ReportEnding as of March 31, 2019

Copperas Cove Economic Development CorporationQuarterly Investment Report

January 1, 2019- March 31, 2019

The following report is submitted in accordance with the Public Funds Investment Act (Chapter 2256). The report also offers supplement not required

by the Act to fully inform the Board of Directors of the position and activity within the Copperas Cove Economic Development’s portfolio of investments.

The report includes a management summary overview, detailed holdings report for the end of the period, and a transaction report as well as graphic

representations of the portfolio to provide full disclosure to the Board.

The Copperas Cove EDC’s portfolio is managed in full compliance with the Public Funds Investment Act, the Corporation’s Investment Policy and Strategy

and under the strictest safety parameters as set by the Board.

Copperas Cove Economic Development CorporationOperating Fund Quarterly Investment Report

January 1, 2019- March 31, 2019Portfolio Summary Management Report

This quarterly report is in compliance with the investment policy and strategy as established by the Board and the Public Funds Investment Act (Chapter 2256, Texas Government Code).

Portfolio as of December 31, 2018

Operating Account $281,075

TexPool Account $5,474,711

Portfolio as of March 31, 2019

Operating Account $460,341

TexPool Account $5,507,188

____________________________________ ____________________________________

Ryan Haverlah Stephanie Potvin

Interim City Manager Staff Accountant III

________________________________

Velia Key

Director of Financial Services

Copperas Cove Economic Development CorporationPortfolio Allocation Analysis

Operating Account

4.9%

TexPool Account

95.1%

Fiscal Year 2018-19 1st Quarter as of December 31, 2018

Operating Account

7.7%

TexPool Account

92.3%

Fiscal Year 2018-192nd Quarter as of March 31, 2019

Resolution No. 2019-03 Page 1 of 1

RESOLUTION NO. 2019-01

A RESOLUTION OF THE COPPERAS COVE ECONOMIC DEVELOPMENT CORPORATION, APPROVING THE INVESTMENT REPORT FOR QUARTER ENDED March 31, 2019.

WHEREAS, Chapter 2256 of the Texas Government Code, commonly known as

the “Public Funds Investment Act,” requires the Investment Officer of the City to present s written report of investment transactions for all Economic Development Corporation’s accounts covered for the preceding reporting period to the Board of Directors; and

WHEREAS, this reporting is authorized by the Public Funds Investment Act; and WHEREAS, the Public Funds Investment Act requires the quarterly investment

report be presented to the Board of Directors; and WHEREAS, the attached quarterly investment report complies with the Public

Funds Investment Act. NOW, THEREFORE, BE IT RESOLVED AND ORDERED BY THE BOARD OF DIRECTORS OF THE COPPERAS COVE ECONOMIC CORPORATION:

Section 1.

That the Copperas Cove Economic Development Corporation has complied with the requirements of the Public Funds Investment Act, and the Quarterly Investment Report for quarter ended March 31, 2019 attached hereto as “Exhibit A,” is hereby approved as the quarterly investment report for quarter ended March 31, 2019 of the Corporation effective May 29th, 2019. PASSED, APPROVED, AND ADOPTED on this 29th day of May 2019 at a regular meeting of the Economic Development Corporation which meeting was held in compliance with the Open Meetings Act, Tex. Gov’t Code, §551.001, et.seq. at which meeting a quorum was present and voting. ATTEST:

____________________ Jeremy Tate, Secretary Adam Martin, Chairman APPROVED AS TO FORM: _________________________ The Knight Law Firm Copperas Cove Economic Development Corporation Attorney



Contact: Ryan Haverlah, Interim City Manager

Subject:

Discussion and direction on the participation in the regional DEAAG (Defense Economic Adjustment Assistance Grant) matching funds requirement. Ryan Haverlah, Interim City Manager


The Texas Legislature authorized DEAAG funding for military communities. Grants awarded may range from $50,000 to $5 million per project. The Central Texas Region met on several occasions during the current year to discuss possible applications that will compete for the funding state wide. The application with the greatest possibility of success is considered to be the Robert Gray Army Airfield Security Project. The project is not only supported by the region but also by Fort Hood. See attached documents for project specifics.

The Public Funds Investment Act of Chapter 2256, Texas Government Code, requires investment management reports to be accepted by the Board. The Copperas Cove Economic Development Corporation's Investment Policy requires that the Investment Officer shall report, a detailed listing of all purchases, sales and payments, and a description of each security held as well as management summary information.

Financial Impact:

TBD


EDC staff recommends the Board authorize participation in the submittal and agree to provide the appropriate match amount.

Attachments:

DEAAG PRESENTATION



Contact: Diane Drussell, Assistant Director, Copperas Cove Economic Development Corp.

Subject: Consideration and action on accepting a bid for the demolition of the building owned by the CCEDC, located at 201 South 2nd Street, demolished. Diane Drussell, Interim Director,

Copperas Cove Economic Development Corporation

Description/Information: In 2017, the Copperas Cove EDC and Coryell County did a building swap between 201 S. 2nd Street and 210 S. First Street. The building on 2nd Street now belongs to the Copperas Cove Economic Development Corporation. This building is not being utilized by anyone at the moment and sits empty. While some CCEDC Board members have suggested the EDC staff have this building renovated, there are others who have asked to get an estimate on the demolition of the building and foundation, resulting in an empty lot. Diane Drussell has contacted several businesses who do this type of work and two businesses have responded, though one only provided an email bid:

Burk’s Dirt and Site Prep

S3 Site Work

R.N.C Construction Burk’s gave an estimate of $40K (attached). S3 Site Work provided a rough estimate in the form of an email. Neither estimate includes the asbestos inspection; however, ESESIS, a company that conducts asbestos testing, is scheduled to obtain samples on Monday, May 20, 2019.

Financial Impact:

TBD

Action/Recommendation: The CCEDC Staff recommends we move forward on awarding this to a contractor who is able to fulfill the needs of the CCEDC board and staff.

Attachments: Burk’s Dirt and Site Prep S3 Site Work



Contact: Diane Drussell, Assistant Director, Copperas Cove Economic Development Corp.

Subject: Consideration and action on accepting a proposal from C-Cove 90 Partners, Ltd. (Endeavor Real Estate) to purchase the digital sign owned by the CCEDC. Diane Drussell, Interim Director,

Copperas Cove Economic Development Corporation

Description/Information: In 2014/2015 the digital sign, owned by the CCEDC sustained hail damage. At the time of damage, repairs were requested. For several months, insurance claims representatives for both the EDC and the sign company surveyed the damage and could not come to an agreement. Engineers came and looked at the sign and it was believed it could be repaired. The parts were ordered, only to find out the parts were no longer produced. This has been an ongoing issue for quite some time and it seems no longer feasible to spend any more time or money on this issue. At the request of the CCEDC BOD, Diane Drussell tried to find a valuation for the sign, as is. It was difficult to try to obtain a value on a sign that was broken, and smaller than an acceptable size sign, per TXDOT standards. In the meantime, Mr. Daniel Campbell of C-Cove 90 Partners, Ltd. (Endeavor Real Estate), expressed interest in purchasing the sign and its easement. They would use this to promote the businesses not visible from Business 190. Financial Impact: Would create an increase in revenue of $25,000 to the CCEDC. Action/Recommendation: CCEDC staff recommends the Board consider the offer made by C-Cove 90 Partners, Ltd. to purchase the digital sign.

Attachments: Proposal from C-Cove 90 Partners, Ltd.



Contact: Jonas Titas, Executive Director, Copperas Cove EDC

Subject:

Discussion and direction on scheduling a date for the Board/Staff Strategic Planning Session. Jonas Titas, Executive Director, Copperas Cove EDC.


The Missions and Goals of the Copperas Cove Economic Development Corporation have not been updated for several years. A planning session/retreat was discussed in 2015, shortly before the previous Director resigned. Due to the absence of a permanent Director at the time and the transition of the Economic Development Department and , it was determined to delay any retreat or planning session to set goals of the CCEDC until a permanent Director was hired and transition was completed.

It is imperative, in an effort to move forward, the CCEDC BOD and staff meet to identify goals and create a plan for the CCEDC.

Financial Impact:

TBD


EDC staff recommends the Board agree on a date to conduct this strategic planning meeting.

Attachments:



Contact: Adam Martin, Chairman, Copperas Cove EDC

Subject:

Consideration and action on electing a new Vice Chairman to replace Christian Mulvey, who resigned in January of 2019. Adam Martin, Chairman, Copperas Cove EDC


EDC Board Member Christian Mulvey resigned from the Board in January 2019, leaving his position vacant. Financial Impact:

None Action/Recommendation:

EDC staff recommends the Board elects a new Vice Chairman to replace Christian Mulvey, Position (1), who resigned from the Board in January of 2019. This position's term ends September 30, 2019.

Attachments:

None

notice of meeting of the copperas cove ......development corporation. 2. consideration and action on...

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