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WEATHERFORD ECONOMIC DEVELOPMENT AUTHORITY, INC.

BOARD OF DIRECTORS REGULAR MEETING

Thursday, September 20, 20129:00 AM303 Palo Pinto St., City Hall, Downstairs Training RoomWeatherford, TX 76086

AGENDACall Meeting to Order.

1. Approval of the minutes from Regular meeting held August 16, 2012.

2. Review and Consider Action on Month[y Financia[ Report-August 2012.

3. Review and Consider Action on 2012-2013 WEDA Budget and City funding.

4. Review and Consider Action on 2012-2013 Economic development program "Goals &Marketing Plan".

5. Economic Development Program Activities Report -August 2012.a) July (August) 2012 - Key Economic Indicators.

6. Executive Director's Report- August 2012.a) Annual member appointments.

7. Citizen Comments on Non-Agenda Items:Residents may address the Board regarding an iter l that is not listed on the agenda. Residents must comelete a reQisBation card and orovide theirname and address• The Board requests that comments be limited to three (3) minutes. The Texas Open Meetings Act provides the following:(a) if, at a meeting of a govemnlental body, a member of the public or of the governmental body inquires about a subject for which notice has not

been given as required by this subchapter, the notice provisions of this subchapthr do not apply to:(1)A statement of specific factual information given fn response to the inquiry; or(2)A recitation of existing policy in response to the inquiry.

(b) Any deliberation of or decision about the subject of the inquiry shaLl be limited to a proposal to place the subject on the agenda for a subsequentmeeting.

Executive Session - Pursuant to Chapter 551, Texas Governrnent Code, VTCS, (Open MeetingsLaw) in accordance with the authority contained in Section 551.087- a) Deliberations regardingeconomic development negotiations - Keg1; b) Deliberations regarding economic developmentnegotiations - NextLink Broadband.; c) Deliberations regarding economic developmentnegotiations- Weatherford Entertainment, LLC.

8. Review and Consider Action on items from Executive Session.

9. Set date, time, and place ef next meeting.a) Thursday, October 18, 2012 - (Third Thursday), 9:00 AM.

Adjourn.

1, the undersigned authority, do bereby certify that this Notice or Meeting was posted on the bulletin board at the City Hall of the City of Weatherford,

Texas, a place convenient and readily accessible to the general public at all times, mid said Notice w posted on the following September ,2012, at __ A.M./P.M., ,-aid remained so posted at least 2 bouts after said meeting w, convened,

Malinda No ell, City Secretatry

2O2W. OakSt.(817) 594-9429

8 " tl IILIPI OlHJ l;'( O.VOlIll DI:I LI OP.IIh,'+I , II I tIORI I b L%¢PO BOX 25S Weatherfordt TX 78086

Fax (817) 594-4786 E-maih dc LaJLLq I rte d±x £ov

Weatherford Economic Development Authority, Inc.Board Meeting

Agenda Iteln

1

P' 2

MINUTES OF THEWEATHERFORD ECONOMIC DEVELOPMENT AUTHORITY, INC.

BOARD OF DIRECTORSREGULAR MEETING

Thursday, August 16, 2012 at 9:00 A.M.303 Palo Pinto St., City Hall - Downstairs Training Room

Weatherford, TX 76086

Members Present: President Waymon Hamilton; Vice President Randall Young; Secretary TammyGazzola; Mr. Craig Swancy; Dr. Kevin Eaton; Dr. Jeffrey Hanks; Ex-Offic[o City Manager Jerry Blaisdell;

City Attorney Ed Zellers; and Asst. City Manager Sharon Hayes.Members Absent: Ken DavisWEDA Staff Present: Executive Director Dennis Clayion

President Waymon Hamilton called the meeting to order at 9:04 a.m.

1. Approval of the minutes from Regular meeting held June 21, 2012.President Waymon Hamilton called for a motion to approve the minutes from the June 21, 2012

meeting.Motion to approve the minutes from Regular meeting held June 2t, 2012 was made by CraigSwancy; Seconded by Randall Young.Motion Carried 5-0.

2. Review and Consider Action oil Monthly Financial Reports -June 2012 & July 2012.Mr. Clayton presented the June 2012 Balance Sheet with a total cash balance of $22,519 and the P & L

report with expenses of $14,957, below the monthly budget. He presented the current July 2012 BalanceSheet with a total cash balance of $64,068, as the fourth funding payment was received from the City; andthe July 2012 P & L report with expenses of $12,998, well below the monthly budget, due to the vacantstaff position. YTD expenses are $187,138, below the YTD budget,Motion to approve the Monthly Financial Report - June 2012 & July 2012 was made by TammyGazzola; Seconded by Craig Swancy.Motion Carried 5-0.

3. Review and Consider Action on 3rd Quarter FY 2012 "Quarterly Economic Development Report"

(April 1, 20t2 to June 30, 2012).the 3 Quarter Report and stated this was submitted to the CMO on July 27th asMr. Clayton presented ,d

required and was just presented to city council this past Tuesday. He advised that the Board is new takingaction on the report as we did =lot have a board meeting in July. He highlighted the prospect anddevelopment activities in the quarter. Some discussion followed.Motion to approve the 3rd Quarter FY 2012 "Quarterly Economic Development Report" (April 1, 2012to June 30, 2012) was made by Craig Swancy; Seconded by Randall Young.Motion Carried 5-0.

4. Economic Development Program Activities Report-June 2012 & July 2012.a) June (July) 2012 - Key Economic Indicators

Mr. Clayton presented the reports and noted that both months were very good with a high number ofprospects, 11 in June and 8 in July, and with a total of 12 site visits in the two months. He highlighted themajor activities including: the Peach Festival economic impact estimate completed with the Chamber, thecontinued increase in city sales tax collections, the opening of the new 25K SF TJ Maxx on September 9th,and some Fort Worth news articles on the improvement of the metroplex housing market. Some discussion

followed.No Action Required or Taken.

3!

5. Executive Director's Report- June 2012 and July 2012,a) Annual member appointments.Mr. Clayton presented the reports and highlighted the development activities, which included several

on-going and new business prospects in all three business sectors. He also noted the outstandingaccreditation just received by Weatherford College and reminded the Board of the August 22r ribbon

cutting of the new WC Academic building. Some discussion followed.No Action Required or Taken.

6. Citizen Comments on Non-Agenda Items.In compliance with the Texas Open Meetings Law, in response to a question or inquiry by a citizen during this "public input"

segment of the meeting, the Board is limited to responding only with a statement of specific factual information responsive to theinquiry or a recitation of existing policy responsive to the inquiry. Any deliberation of or a decision about the subject of an inquiry shall

be limited to a proposal to place the subject on an agenda, as appropriate, for a subsequent meeting.

Mr. Hamilton opened the Citizen Comments item - NONE.

Member Kevin Eaton joined the meeting.

Regular Meeting was suspended at 9:23 a,m. and Executive Session called to order.

Executive Session - Pursuant to Chapter 551, Texas Government Code, V'T'CS, (Open Meetings Law) inaccordance with the authority contained in Section 551.087- a) Deliberations regarding EconomicDevelopment negotiations - Weatherferd Entertainment, LLC.; b) Deliberations regarding EconomicDevelopment negotiations - NextLink, Inc.

Executive Session closed at 9:50 a.m. and regular meeting opened.

7. Review and Consider Action on items from Executive Session.Motion to recommend that the City Council enter into an economic development agreement withWeatherford Entertainment, LLC, was made by Randall Young; Seconded by Kevin Eaton. MotionCarried 5-1 with Dr. Hanks abstaining.

Motion to recommend that the City Council enter into an economic development agreement withNextLink, Inc. was made by Tammy Gazzola; Seconded by Craig Swancy. Motion Carried 6-0.

8. Set Date, Time, & Location of next meeting.a) Thursday, September 20, 2012 - (Third Thursday), 9:00 AM.

Mr. Clayton advised that the next regular meeting is scheduled for Thursday, September 20, 2012

(Third Thursday) 9:00 AM.

Motion to adjourn was made by Craig Swancy; Seconded by Kevin Eaton.Motion carried 6-0.

Meeting adjourned 9:53 a.m.

Waymon Hamilton, President

Dennis Clayton, Assistant Secretary

42

Weatherfbrd Economic Development Authority, Inc.Board Meeting

Agenda Item

2

P" 5

9:11 AM

09/11/12

Accrual Basis

Weatherford Economic Development Authority, Inc.Balance Sheet

As of August 3t, 2012

ASSETSCurrent Assets

Checking/Savings001 • Checking060 - Money Market

Total Checking/Savings

Total Current Assets

TOTAL ASSETS

LIABILITIES & EQUITYLiabilities

Current LiabilitiesAccounts Payable

2000 • *Accounts Payable

Total Accounts Payable

Total Current Liabl]ities

Total Liabilities

Equity3900 • Retained EarningsNet Income

Total Equity

TOTAL LIABILITIES & EQUITY

Aug 31, 12

8,301.8254,582.83

62,864.65

62,864.65

62,864.68

13,159.38

13,159.38

13,159.38

13,159.38

27,956.3821,748.89

49,705.27

62,864.65

09II1/12Accr(]al Basis

Profit & Loss Budget PerformanceAugust 2012

Aug t2 Budget Oct '11 - A,.. YTD Budget Annual B...

Income050. Economic Development Services062. Other, Grants etc.070. Interest

Total Income

ExpenseI0t. Salariest10 • Auto Allowance120 • Retirement130. Medical Insurance140. FlCAJMedicare100. Worker's Compensation160 - Texas Workforce Commission200, Office Supplies210. Postage220. Furniture/Equipment230 • Miscellaneous300 • Facility Lease305. Utilities/Insurance/Maintenance310. Dues & Subscription315 - Publications & Articles320 • Computer Services330. Telephone340. Accounting34t. Prospect EIA 8, Accourrting Exp.342 • ED Studies - Consult Fee, et al350 • Office Equipment Lease/Maint360. A(Ivertising365 • Public Relations370 • Meetings & Expenses371 • Prospect Meetings - Expenses375. Printing390. Miscellaneous Service4000. Reconciliation Discrepancies

Total Expense

O.0O 0.00 215,098.35 215,000.00 215,000.000.00 208.33 8,103.11 7,291.67 7,500.000.00 12.50 48.21 137,50 150.00

0.00 220.83 223,249.67 222,429.17 222,650.00

9,745.68 10,892.00 115,379.91 119,812.00 130,704.00450.00 450.00 4,950.00 4,950.00 5,400.00

1,699.64 1,897.50 18,468.18 20,872.50 22,770.00O.00 968.50 8,740.62 10,653.50 11,622.00

776.75 867.75 9,191.18 9,545.25 10,413.000.00 47.92 O.00 527.08 575.00

487.31 45.00 1,135.17 495.00 540.00104.74 166.67 1,593.42 t,833.33 2,000.0027.35 66.67 535.97 733.33 600.00

263.25 41.67 t ,579.02 458.33 500.000.0O 16.66 163.67 183.33 200.000.00 0.00 0.00 0.0O 0.00

137.50 291.66 1,910.03 3,208.33 3,500.00269.00 233.34 2,912.45 2,568.67 2,800.00

0.00 20.83 230.00 229.17 250.000.00 41.67 433.35 458.33 500.00

144.94 208.33 1,516.89 2,291.67 2,500.000.00 41.67 0.00 459.33 500.000.00 91.67 0.00 1,008.33 1,100,00

250.00 750.00 8,939.90 13,250.00 14,000.00253.10 300.00 2,784.10 3,300.00 3,600.00

0.00 333.34 3,598,00 3,666.67 4,000.000.00 20.83 0.00 229.17 250.00

36.78 791.67 9,652.53 8,708.33 9,500.00323.87 416.67 4,051.44 4,583.33 5,000.00

0.00 375.00 3,669,09 4,125.00 4,500.000.00 16.67 58.03 183.33 200.000.00 7.83

14,969.91 19,393.69 201,500.78 218,330.31 237,724.006


Agenda Itemn

3

P. 7

104 Economic Development ProgramWeatherford Economic Development Authority, Inc.FY 2012-2013 (October 1, 2012 thru September 30, 2013)

OPERATING BUDGET & FUNDING REQUEST - Final lAW City Budget

Weatherrord 'Economic

. DevelopmentAuLhoHty

InC

2010-2011

ACTUAL

to City of Weatherfordv4 Sept 20, 2012, WEDA Bd Apprvd_ci[y salaries

09/20/2012

14-Sep-12 2012-2013APPROVED (revised) Projected City OPS BUDGET &

2011-2012 2011-2012 FUNDING REQUESTOPS BUDGET OPS BUDGET FYE Sept 2013

RevenueOSO ED Services - City of Weather[ord $215,400 $215,000 $215,400 $226,032050 Sponsorships $8,118 $12,500 $8,103 $2,500070 Interest $177 $150 $50 $150

Subtotal REVENUE $223,6962.0 FTESalaries and Benefits

101-103 Salaries

110 Auto Allowance

120 Retirement

130 Medical Insurance

140 FICA2Madicare

150 Worker's Compensation

160 Texas Workforce Comnlission

$227,650 $223,553 $228,682

$144

Subtotal SALARIES AND BENEFITS $180,786SUPPLIES

200 Office Supplies

210 Postage & Shipping

220 Furniture/Equipment

230 Miscellaneous

$1,781

$363$354

$48

Subtotal SUPPLIES $2,546;ERVICES

300 Occupancy- Facility Lease

305 UtililiestlnsurancelMalntenance

310 Dues and Subscriptions

315 Publications & Articles

320 Computer Services

330 Telephone

340 LegallAccountinglBookkeepinglAUDiT

341 Prospect Eco Impact Analysis & Accounting Exp

342 ED Studies, Retail data & Prospect leads

350 Equipment Maintenance & Lease

360 Advertising

365 Public Relations

370 Meetings & Expenses

371 Prospect Meetings & Expenses

375 Printing

390 Misc Services

Subtotal SERVICES $49,119

SUBTOTAL SERVICES & SUPPLIES $51,666

TOTAL

Revenue Over (Under) Estimated Budget Expenditures

Estimated Carryover/Beginning Fund Balance

$0

$2,288$2,734

$618$25

$1,723$5,000

$0

$9,083$3,037$7,032

$0

$9,415$3,992$4,133

$4O

$232,452

($8,756)

$36,7o3J

$27,947JNET FUND BALANCE - Revenue Over (Under)

($15,074) ($1,832) ($12,102

J $27,96611 $27,956 $26,124

J $12,682 11 $26,124 $14,022

$5,400$22,398$11,622$10,417

$206

2.0 FTE 2.0 FTE 2.0 FTE$130,704 $129,324 $136,576

$5,400$22,770$11,622 $11,622 $11,610$10,413 $9,800 $10,413

$575 $225 $225$540$54O

$182,024 $178,311

$2,000$2,000 $1,850$800 $650$5O0 $1,580$200 $164

$3,500

$0 $0 $4,500$3,500 $2,200 $3,000$2,800 $3,100 * $2,900

$250 $250 $300$500 $500 $500

$2,500 $1,650 $1,900$500 $o1" $500

$1,100 $0 $1,100$14,000 $8,950 $8,500

$3,600 $3,060 $3,600$4,000 $4,525 $3,500

$250 $0 $250$9,500 $9,700 * $9,500$5,000I$9,500 $4,320

$200 $75 $200

$130,599$5,400 $5,400

$21,400 $23,370

$540

$150

$4,244 $3,300

$4,500 * $5,000• $4,100

$188,134

$650$5OO

$57,200 $42,830 J $49,350$60,700 $47,074 $52,650

$242,724 $225,385 $240,784

8

City of Weather ford

FY13 Program of Services

CommuBity Services

Economic Development

Expenditure SummaryCategory

Personnel

Supplies

Contractual

Capital Outlay

Total

Actual Approved Pr ected Proposed

FYll PY12 FY12 FY13175,862 176,202 175,309 183,214

5,400 5,400 5,430 5,400

181,262 181,602 180,739 188,614

Personnel Schedule (FTE) Actual Approved Projected ProposedPositions C]asslfi;2ation FYll FY12 FY12 FY13

Director UC 1,00 1.00 1.00 1.09

Administrative Secretary 11 1.00 1.00 1.00 1.00

Total 2,00 2.00 2.00 2.00

Significant Budget Changes Ongoing One-Time

Compensation Package 3,506 3506

Performance Measures (v2 rev 07121 Strategic FY11 FY12 (6 too. YTD) FY13Plan

Input/Demand #7.1 "Projected"

1 Propsects 101 49 UKN2 Site Visits 38 20 UKN3 Existing Business Visits/existing jobs 63/2370 18/326 UKNOutput1 Proposals & Real Estate Data Sheets 101 49 UKN2 RFI's 146 61 UKN6 Direct Industrial/Comm Contacts/Site 31 Comm/9 SV; 22 Comm/3 SV; UKN

visits (SV) 27 Ind/13 SV 8 Ind/6 SV7 Direct Retail Contacts/Site visits (gv) - Tx 43/16; 19 Conlm/11 SV; TX UKN

ICSC; LV RECon/NTCAR ICSC- 28 BRE Annual Industrial/Mfgr App Lunch 6th-120 attendees; 10 7th-14;2 attendees; 12 8th-Febmaly2;2f3

sponsors, 3 BOY sponsers a BOY; ;2 VOY

9 BLC Annual ECOSurnmit 1st -80 anendees; 4 2rid, May ath: 50÷ 3rd, - Expected May 2;213Keynote sessions w/ attendees; 2 Keynotes w/

SWOT Seategic/M slon sessions

FY12 (6 me. YTD)

182/35 retained 174 (Projected) 100$30.05 MM 12.63MM (Proj;2cted) 100

;267K ST/$439K AV $413g ST/;49 K AV $ O, (Industrial WH)

97.7K g5.2K (Projected) lOOK+$500K sales tax/yr +$500K sales tax/yr +$500K sales tax/yr

Efficiency/Impact1 New Jobs/Existing retained2 Est. Capital Investment3 New gales tax/AV Tax (city)4 New SF property5 Local Option Alcohol sates Election

(2008) - increased sales lax - tAW 200;2 RayPerryman, Ph.D. EtA for cay of 25.o0o

a.

Effectiven;2ss/Outcome

1 New Businesses/Existing Expans

2009 - 2011:4 to 6 new C-Stores/package stores constructed & Salesadded to ALL grocers and C-Stores

FY12 (6 mo. YTD}

2 industrial Park land Contracts/LOPs(acres)

3 Industrial Park land SALES/LOI's

a. Revenue/reimb to City MUB

7 Oev (21 tO 26 2 D;2v (10 busin'ses) (projected)businesses) (Incl'd (incl'd WRd Ridge-Ill) 4 Dev (11 busin'ses)

Main St Plaza)

1 (8.35 ac)/0 0/1 (2.5 ac) 2 (7.1 ac (projected)[completion of West

Loop]

$259KJ0 $0/$37K $900K (commercialcomers) (projected)

$111.7K/0 $0/$23K(esf) $239K [projected)


Agenda Item

4

P' I0

2012- 2013 GOALS MARKETING PLAN DNAL-L)P, A FT2

Weathert ord

VI

EDA

-_1 WeatherfordEconoMic

Developnlel tAuthority,

LI - . . . I !J Inc.

Vision Statement: "Weatherford TX - a Vibrant City of Quality: The Western Gateway BusinessCentre of the DFW Metroplex based in demonstrated Growth and Heritage!"

(Community Vision Statement: "We are a Vibrant City of Quality: The Western Gateway Marketplace based on otlr Heritage, Historic Foundation &Pioneer Spirit'

I. Goal - Increase Job Diversity: Strategies - Work to develop Industrial & technology-business parks, officeparks, et al.; stimulate the continuing investment in retail and services to provide for community needs andthe regional market in general.

A. Retail company & shopping center developer recruitment.1. Target Retailers (solo/anchor/box) (growth/retail demand/gap sectors): Expanding-established

sectors, sporting goods, franchise restaurants, apparel, grocery, and others.2. Market and assist retail center and solo projects: Maintain database of shopping center- &

commercial developers/brokers, solo "box"/anchor sites, pad sites, and IH20 frontage sites.3. Prospect mining - Diligent proposals and data sheets to direct and 3rd party leads and contacts.

a. Attend Texas ICSC, ICSC RECon (Las Vegas) ICSC (shopping centres), Dallas NTCAREXPO & other trade shows.

4. Indicators/Metrics:a. New businesses, new jobs, est. capital investment & new square feet of real property.b. Added sales tax and property tax valuation.c. Secondary- site visits & Request for Information (RFI's).

B. Primary industrial/manufacturing & commercial business services: Diligent proposals and datasheets to direct and 3rd party leads and contacts.

1. Market and maintain database of W/PCEDC IP/West Loop & privately-owned (city & ETJ)commercial/industrial park sites.a. Engage new industrial park site search and due-diligence - re: new IP search Action

Plan(Og/2ol0).

b. Recruit P3 private developer/contractor partners;c. Due-diligence on infrastructure services and development.

2. Market & manage the W/PC EDC Hobson industrial park.a. Market West Loop sites and prime comer/frontage lots for development and commercial use,

and market interior "shovel-ready" industrial sites.b. Business, records and financial management services to W/PCEDC Board.

3. Indicators/Metrics:a. LOl's or contracts for land sale,b. Acres sold and gross/net revenue/repayment to MUB.

C. Marketing Materials:1. Maintain database of retail sites, industrial/commercial buildings, industrial/commercial sites,

office buildings and shopping center inventory.a. Engage Internet/web search engine & social media - Linkedln, About.corn (Google

Basics/Google Places), FaceBook, et al.2. Website- Maintain web-based data and resources.

a. Local demographics, growth trends, sales gap, economic indicators and news resources.3. New marketing materials/metrics: Explore new options & needs.

a. Real estate data sheets and database.b. Page 3 and 4 - Industrial market and Quality of Life - color brochure.

II. Goal - Inca'ease entertainment & recreation amenities (healthy, active & family): Strategies - Marketand recruit for bowling, arcade, golf, theatres, roller skating & other entertainment venues.A. Encourage the development of arts and entertainment venues.

11I : ,&ml:l d I ];111 tl 'll,l. I!cl ,llls )OI2 2OI3 ( o;11 u l;lllst.lilL pl[lll EL'( ) lllltlllil2 V{t, io]] ¢[ i}j 2OI2-201 El),\ Ck:ats & ,MP 2FilB,II do '

III. Goal - Enerqize and enrich the historic fabric of Weatherford: Strategies - downtown investment [&redevelopment] opportunities/historic preservation and beautification/restoration.

A. Diverse downtown mixed use: assembly (light fabrication), technology, [etc]; diversity ofhousing/residential options.

1. Partner w/City, Chamber and Main Street Program on downtown/CBD redevelopment & resources- NEZ Ordinance available for redevelopment incentives.

B. Business Retention & Expansion (BRE) Program to existing business and industry.1. Monthly BRE visits - Conduct existing business contact/site visits and plant/ops tours.

a. Conduct monthly committee meetingsb. Maintain Manufacturer's Guide of existing businesses.

2. Host Annual Industrial Appreciation Lunch & "BOY" recognition.C. Partner with the equine industry to promote the cutting horse capital traditions.

1. Market equine sector contacts: Partner (support) with Chamber of Commerce & City:2. Equine tradeshows and events: FW Cutting Futurity, FW Reichert Celebration, Silverado "Brazos

Bash", Greenwood Trials, etc.3. Business opportunities & resources for secondary commercial/industry expansion/relocation.

D. Indicators/metrics:1. # Existing businesses contacted & # existing jobs affected/resourced.2. New downtown/CBD businesses and re-development projects.3. Annual event attendance and sponsorships.

IV. Goal - Diversify Development and Infrastructure: Strategies - Connect [engage/access the] Fort Worthand the Metroplex via forms of mass transit; i.e. "complete streets".

A. Diversify Transportation:1. Continue support and promotion of devetopment of the RWMH-West Loop.2. Support & resource Parker County, City and TxDOT in the planning & development of the East

Loop ROW & E-IH20 connection.3. Resource development interest/opportunities& EIA for alternate N-S connectors.

B. Northside Development/investment: Strategies - Downtown services; grocery store; stimulateinvestment opportunities; (future) East Loop impact??

C. Strategic Planning - Advance strategic planning for Leadership/Business "Place Making" andTarget Industry identification (I.D.).

1. 2013 preview coaching for "Place Making 101" and "11 Principles of Creating Great CommunityPlaces" - community, transportation, destinations, et al.

2. BLC Host 3rd Annual ECOSummit3!.a. Leadership & Business "Place Making" vision, training and engagement.b. Target Industry [.D. - leadership and business roundtable.

V, Goal: Build Board & Community resource & knowledge: Strategies - Resource business incentives andimplementation strategies.

A. Business Leadership Committee (BLC) (to WEDA Board):1. Business & Industry insight.2. Target Recruitment Team resources & host.

B. Source for economic development programs and incentives - partner with City Manager's office,Planning & Development and P&Z.1. Initiate TIF district(s) or other resources for infrastructure development on target sites:

a. IH20 and S. Main retail/commercial sites - target sites and expanded locations.b. West Loop/IH20 commercial/industrial sitesc. Downtown and North/South Main Streetd. New industrial park

2. Business incentives and implementations strategies - City & WEDA Boards & committees,taxing entities, Chamber Board & events, community orgs & events.

3. Receive application, due-diligence forms & document business qualifications.1) Calculate "Incentive/Tax Abatement Model", city criteria worksheet and provide

"Economic impact (EIA) & ROI Analysis".

-- END -

121,3Anuual Plnu c,l'W ,k Rcl)ods 201 -2(113 Goads & ' h,keting P]iln ECOSumlnil Vi,,-ion ¢1 a1201>+2fH3 \VEDA Goals & MP 2Fibm}do¢


Agenda Item

5

P' 1 3

Weadlerford ' '"I -;'/

MONTHLYECONOMIC DEVELOPMENT ACTIVITIES REPORT

August 2012Weatherford Economic Development AuthorityDennis W. Clayton, CEcD, Executive Director

Weather ford

DevelopmentAuthority,

Inc,

10 Prospects: 425 new jobs, est. capital invest. $62.0 MM; 9 DFW Area and 1 Out-of-State..YTD: 89>- 3 Retail: 8K SF Franchise steak and burger restaurant; 5K SF Franchise BBQ restaurant - pad site;

3K SF 2 d-G restaurant (German).1 IndustrialllVlanufacturing: Project Elegance (OGEDT) - 30K SF Int'l gas cylinder mfgr.

> 6 Prospects: N. Tx Comm. Assoc. of Realtors (NTCAR) Expo, Dallas (8/29): 235 new jobs; est.CI $14,5MM; 6 DFW Area; 72 K SF,

a) 4 Retail: 3K SF 2nd-G restaurant; 40 K SF neighborhood shop-space center; 3K SF reloc franchiseRestaurant; 3.5K SF Prime steakhouse - pad site.

b) 2 Commercial: 8 acre assisted living center; 10K SF office/services dev.c) 1 RFI: retail development demographics brochure.

60 5t - 120

0 0Retail Industrial Commercial Prospects Site Visits

4 Site Visits: 202 jobs, est. capital invest. $20.6 IVIM, 190K SF. 2 Local, 1 DFW Area, 1 In-State.YTD: 41

4 Commercial: 2.5K downtown NEZ office re-dev; 65K SF entertainment center; 40K SF office andservices development (8-10 acres); 5K SF wireless HQ; ops center and call center.

2 Business Retention & Expansion (BRE) Visits: including Gateway Diagnostics - 15 rniledemographics, population and S. Main construction progress; Home Depot - 2012 YTD Quarterly corporatereport - unemployment, new home permits, foreclosures (xx), existing home sales, 12 month new comm.construction (150K SF); Preliminary program for local "manufacturers" (~28) welders/machinists labor needs,staff tele-survey script for Workforce Solutions/COG training grant: 180 -165Committee meeting: 9 volunteers and 1 staff. 160Year-to-Date: 24 business visits, which employ 574/180 visitors/yr, t40

120

16 Requests for Information (RFI's): 9 local; 7 DFW Area; YTD: 110.. lO8Oo

Major Activities: 6040

1. N. Tx Commercial Assoc. of Realtors (NTCAR) Expo, Dallas: 4 R2 commercial prospects and 1 RFI. 0

2. CC (8/14) Exe Session - economic dev negotiations: a) 5K SF wireless service RFrs BRE Visitsand customer service center; b) 65K SF entertainment center/8 acres.

3. CC (8/28) resolution on alcohol sales distance for 65K SF entertainment center and Exe Session - eco devnegotiations: a) 80K SF WH/distro-center/15 acres.

4. WC 45K SF new Academic building ribbon cutting.5. WRMC new physician reception and introduction (Bd Chair).

14 -- a.A

1 !

I

. [, =l I

....

rr II I

14

Key_ Economic Indicators "On-the-Watch!" []July (Augus0 2012 '°°'

A. ProspectActivitv: AUGUST 2012 - 10! prospects; 2012 FYTD = 89 12o..r 111FY Monthly prospects: July 2012 - 8!, ©; June 2012 - 11; May 2012 - 7; looApril 2012 - 4; March 2012 - 7 ; February 2012 - 6; January 2012 - 9; so.December 2011 - 9; November 2011-7; October 2011 - 11. 2011 YET = 101 ! so

40

20.

B. Sales Tax Revenue to City: August 2012 (June sales): $821,6541 Prospectsvs. $824,592 M to M = -0.35%; l 20sa • 20o9 o2oto 2olt • FY20t2I

2012 YTD - Largest EVER Jan, Feb, Mar, Apt, May & June & July A#ocations//City 2011/12 FiYTO: $7,289,264 (2011- $6,513,459) +11,91%

',,,:L

I i" 2012 YTD: $6,330,147 (2011 - $5,642,830) +12.16% !

C. 2010 Census Population: 20t0 Census: City - 25,250 / +32.9%; .... "

County - 116,625 / +32.1%. ',2012 NCT COG "Estimates": ,2011: +0.023% - 25,310/17 570; 2012: +0.50% - 25,440/t18,860. ..............

m2011 12012

D. Commercial Construction Permits: July 2012:9 vs. 4 = +75.00%!;July value: $951,227 vs. $724,436 (+31.30%)

1. W'fd YTD: 35 vs. 94 (incrd WRMC Expansion & 46 St. Duplex Units 04/2011"} = f-61.70%t:2. W'frd Value YTD: DOWNI $8,109,866 vs, $22,798,696 (incl'd WRMC Exp & 46 Sr. Duplex Units [@ $18,415,500]) (2011) = (-64.43%)1

E. Residential Construction Permits: Wfrd - July 2012:7 vs. 12 = (-41.67%)®IiJuly 2012 YTD: 60 vs. 95** = (-36.84%)%; July 20t2 Avg. value UPI @ $194,533 vs. $174,987"* (2011)= +11.17%;

2012 YTD Avg. value UP! @ $229,122 vs. $t54,463"* (2011) = +48.33%; **(incl'd 28 St. Duplex Units April 2011),

1. MLS - SOLD Listinqs: July 2012 - 122 vs. 122 (2011) = +0.0%: YTD 2012 - 829 vs. YTD 2011 - 748, + 10.82%a) Average YTD sell price: UP $204,301 vs. $177,350= +15.19%;a) July 2012 Avg. Days on market = 91 (112) DOWN! i YTD Avg. Days on market = 100 (108) DOWN!b) July Volume SOLD - $40,128K vs. $22,852 K (2011), +75.60%;c) YTD Volume sold - $169,365 K VS. $132,658 K (2011),, +27.67%

Source: NTREIS, Greater Metro West Association of Realtors, Weatherford

F. 2011- 2012:138,000 SF NEW/Re-Dev Retail Center construction,$16.5MM in 20121.53,000 SF/$4MM CI Retail Shop-Space Center Redevelopment/renovation at

S. Main Plaza (old Super Save)2.85,000 SF/$12.5MM CI existing Power Center-Phase Ill expansion (IQ 2012):TJ Maxx - 25K Sq Ft; Maurices, Justice & Lane Bryant - 20K Sq Ft.2005 thru 2009:850,000 SF NEW Retail Center construction since 2005

approx. $108,000,000 construction:

G. Unemployment RATE: July 2012 Report (June2012): Weatherford - 7.0% (5.8%) UP! (Dec.'11- 6.3%) (861(705)) unemp)PC - 7.0% (6.3%), UP! (Dec.'11- 6.3%) (4,072 (3,636) unernp) City/County Peak: July 2009 @ 8.3%/8.5%1. FW- Arlington MD - 7.3% UP! (6.7%); vs. Texas - 7.0% (6.9%) SA; (6.9% [6.9%] - UP!);2. U.S. - 8.2% (7.9) SA; (8.4%) SAME!3. Civilian Labor Force (CLF) - City Ul:'t: 12,07,1 from 12,011; COUUty UPI: 57,792 from 57,304

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A GRAND OPENING

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Members of the WC Board of Trustees as Well as administration officially cut the ribbon to open the new academic building,Wea t hed'ord Telegram/Lance Winter

WC President Dr. Kevin Eaton Founclatlon Campaign ChairBob Glenn WC Board Chairman Frank Martin

College officially opens new academicbUilding; launches capital campaignByMelissaWinn invite;' Glenn said at the faculty offices, [email protected] event Aug. 22, referring to WC President Dr. Kevin The Weatherford C01

It may not have bean lleavenbut it was close enot ghfor Weatherford, CollegeFoundation CampaignChairman Bob Glenn, as heand a host of communitymembers, chambers ofcommerce, WC administrators, faculty and students attended the grandopening of the college'snew academic building.

"You don't have to livein Weatherfurd to get toheavan.but it won't be det:rimantal when you get the

[,

how life in Weatherfprd isas close to heaven as hecould imagine because ofthe graenities, which incinde the college.

The 40,000 squarefoot building has 10 classrooms, two large lecturehalls and an Academic Research Center on the firstfloor, eight science laboratories with accompanyingstorage rooros a facultysecretary office, a laboratory technician office, aconference room and IB

Eaton and Board ChairmanFrank Martin also spoke tothe large crowd with Eatonproudly proclaiming thatthe a ademic building wascompleted under budgetby $ 00,000.

After the shot[ presentation and ribbon cufftngattendees ware invited to"roam the halle" and enioyrefreshments,

lege Foundation has announced the public launchof a SZ million .fundraisingcampaign, and the organization has already raisedmore than $1 million toward its goal.

The Fonndation unveiled the campaignWednesday during thegrand opening of the College's new AcademMBuilding. Called "TheTime is Now for Your College" campaign, the effortMore on BUILDING, 2A

WC Foundation announces capital campaign, sets lundraising

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EXECUTIVE DIRECTOR'S REPORT

Weatherfor(IEconomic

OeMelopn3enl:Authority,

nc,

August 2012Weatherford Economic Development AuthorityDennis W. Clayton, CEcD, Executive Director

Business Leadership Committee (BLC): August 1 -WEDA reports, development activities, BLCrecruitment team and local/customer pulse and attitude.Committee meeting: 4 volunteers and 1 staff.

Development Activities:

A. Retail: [est. 167 SF, 195 jobs, $39 MM CI]1. 87K SF anchor site options - access and development requirements.2. 80K SF anchor site search - follow up on market locations and progress.3. TJ Maxx and shop space openings: 08/30 to 09/09/2012.

B. Industrial: [esL g2K SF, 120jobs, $11.5 MM CI]1. CC exe session - economic dev negotiations: a) 80K SF WH/distro-center/15 acres.2. 80K SF WH and distro-center site option a) development requirements estimate b) deve]opment

assistance and incentives estimates.3. 12K SF industrial building data sheet to N. Gas services prospects.4. WPCEDC industrial park land inventory map to accountant.

C, Commercial: [esL 120K SF, 135jobs, $18.0 MM CI]1. 65K SF entertainment center: a) Two CMO previews, b) ACM/P&D/Util requirements mtg., c)

P&D development requirements memo to developer, d) Engineer and developer review - Dallasw/ P&D director and WEDA director, e) (2) P&D staff meetings for CC agenda report andresolution.

2. CC exe session - economic dev negotiations; a) 5K SF wireless HQ, ops and call center; b) 65KSF entertainment center/8 acres.

3. 40K SF/10 acre services and office development; a) aerial maps for client report; b) site searchoptions.

Other Major Activities:

1. Chamber Board meeting (ex-officio); a) WEDA monthly repod and Key El; b) economic impactestimate of Peach Festival - 45K attendees, $650K Direct and $1.95 million total impact.

2. Tx. Eco Dev Council (TEDC) -"Community Eco. Dev. Awards" nomination - S. Main PlazaRedevelopment, 55K SF retail center.

3. WRMC new physician reception and introduction (Bd Chair).4. Parker County Today interview: 8/28 CC agenda - a) resolution on alcohol sales distance for

development; b) CC Exe Session - eco dev negotiations, 65K SF entertainment center.5. Community News interview- Annual business outlook for Weatherford.6. CMO Mgmt Team - CCCG Customer Service Training workshop.7. Economic Development Directory web-listing: May- Wford 123FFX 815, June -Wford 63/Tx 766, July

Wford 100/Tx 840.

18

Distance reduction approved by council >> Weatherf0M Democrat Page I of I

Weatherford Democra.t

AHgust 29, 2012

Distance reduction approved by council

Bdml SmithCOURTESY PHOTO

WEATHEgFORD -

City council members approved a reduction to the distance reqttirement between where alcoholic

beverages are sold and a public school dtuing Tuesday mght's meeting.

The property, located at 825 East Interstate 20, is at the intersection of Texas Dr. and the 1-20 service

road. The applicant xxdshes to develop an entertahmmnt smwices project which will include a bowlhlg

alley, arcade, meethag rooms and fi_lll food service.

A thneline for construction was not given.

Generally, distances from schools are measured ha straight line from property line to property line and

in a direct line across intersections. The reduction from the reqtdred 300 feet to 110 feet by the Texas

Alcoholic Beverage Code and Weatherford i ,kmicipal Code is subject to certain conditions.

Under the approved resolution, any public entrance, other than the reqt@ed fire ets and service

entrances must be at least 600 feet from the nearest property lhm of the school and 850 feet from thefront door of the school. Any public entrance, other than the above stated must also not be visible from

school grounds.

Dennis Clayton, with the Weatherford Economic Development Authority, wouldn't name the businessgoing in, oidy identifying it as Weatherford Entertaimnent, LLC. He said the group has opened other

similar projects in cities across the state.

Under Section 5-9-7 of the Mumcipal Code, the city council can grant an exception to reduce the distance•. • "" • " that enforcement of the distance reqttirements in a particular instance is not

reqmrement ff it deternm es

in the best interest of the public, constitutes waste or inefficient use of land or other resources, creates an

undue hardship on an applicant for a permit ... or for any other reason the council, after consideration of

the health, safety, wdfare of the public and the equities of the situation, determines it is in the best

interest of the city."

According to a staff report, the new development serves as "an underser¢ed market for business, youth

and conmmnity services in Weatherford." Clayton also said it will be a regional attraction for

business/cormnutzity events, school and church activities.

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, ..... ,, ...... 1. .. .,.aA ..... o,.ot,., , ltm _news/xl494190279/Distance'reducti°n-appr°ved-by"" 08/31/2012

Weatherford Econolnic Development Authority, Inc.Board Meeting

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WeatherfordEDA,Veathel'fOl'd Econmnie Deveh pmcnt Authority, Inc.

Weatherford I

Weathetford

1 EconomicDevelopment

AulhorityInc.

Executive Session - Pursuant to Chapter 551, Texas Government Code,VTCS, (Open Meetings Law) in accordance with the authority contained inSection 551.087- a) Deliberations regarding economic developmentnegotiations - Keg1; b) Deliberations regarding economic developmentnegotiations - NextLink Broadband.; c) Deliberations regarding economicdevelopment negotiations - Weatherford Entertainment, LLC.

8. Review and Consider Action on items from Executive Session.

II "t i IIit RI tiled ];'( O\O IIC DLI I I OI'III VI. ] I IIlOllll i; ],¢ :202 W. Oak St, PO BOX 255 Weatherford TX 76086 L L(817) 594-942g Fax (817) 594-4786 E-malh l laj oJon!, weatherfordtx.oov


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weatheocorileda weatherford

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