FEDC continues Beaver recovery

During its regular Jan. 17, 2019 meeting, the Forney Economic Development Corp. met and in summary: approved more detention pond repairs, awarded a loan to Emergicon.

• Financial report: Mr. Burrus said happy to report at 25% FY have 27.5% revenue, the Christmas rush is still coming.
  
• Executive Director's report:
      Mr. Ketteman: going to ICSC in May, board members and city manager also going. Kaufman County Leadership Council Mar. 24/25 will be in Kaufman County Day in Austin. Victorian Village Groundbreaking was done, Red River ICSC in FW attended by Mr. Alexander & Ms. Lewis, got some good leads from that; Downtown visioning for E. Main St. - during council retreat, council in favor of that; Trailhouse road and property will go out for bid, is critical for retail especially Musser property - drainage and infrastructure will also be done, easements have been obtained; West Broad St. sewer. Mr. McGregor said Mr. Ketteman was given an award.
  
• Approved awarding detention pond maintenance to Iron T Construction.
      Mr. Ketteman was at the bid opening, Charity in finance said the budget allows $82k for maintenance, low bid is $71.3k, there is no need to transfer funds. Iron T was the lowest of 8 bidders; city engineer and Ms. McQuiston checked with 9 references, got glowing reviews. Mr. McBeth asked about ongoing maintenance; Mr. Ketteman doesn't know, a city engineer has been hired and will start later this month, they will look at it. This area is unusual as it drains N., coming from Smurfit Kappa, flows out of the pond S. to Mustang Creek. Ms. Browning asked if they weren't going to turn this over to the city; Mr. Ketteman has spoken w/ city manager, original agreement was EDC would have perpetual maintenance, "there is no urgency on behalf of the city" to take over maintenance. Ms. Browning said would be cheaper if city employees did the maintenance.
  
• Took no action re: economic development Trade Area analysis
      Mr. Ketteman said this is related to a prospect they have met w/ several times, who wanted a specific report. Staff got examples of those from companies, but they weren't what the prospect wanted, so this item is pulled.
  
• Held a 90-minute executive session re:
  
• Re: an Incentive Application from Emergicon - Approved $70k forgivable loan for select tenant improvements, employment increases and signed lease agreement. Staff will work with attorney, create a project with 60 day notice, then move money from fund balance to project expenses. This will have to be approved by council.
      Mr. Ketteman: said City Manager Carson has (started a program where departments can host staff meetings), 2nd staff meeting in Aug. EDC will host city staff.
  
• Adjourned at 2029.