[3.B.Consider approval of a resolution adopting the Burleson 4A Economic Development Corporation FY 2024-2025 annual budget.  (Staff Contact: Harlan Jefferson, Deputy City Manager) ]
          [00:00:03]
          THANK YOU VERY MUCH AND GOOD AFTERNOON. 
          I REALIZE EVERYONE'S BEEN THROUGH THE BUDGET PRESENTATION, SO I WON'T SPEND TOO MUCH TIME
ON IT. 
          SO I KNOW YOU GUYS ARE AWARE OF WHAT THE 4A CORPORATION DOES. 
          I JUST POINT OUT THE INCENTIVE IS LISTED HERE FOR NEXT FISCAL YEAR. 
          THE MAJOR ONE IS CRAFTMASTER. 
          IT WAS SCHEDULED FOR THE CURRENT FISCAL YEAR, FISCAL YEAR 24, BUT IT'S BEEN MOVED OVER TO
NEXT FISCAL YEAR. 
          AS YOU'LL SEE IN THE FIVE YEAR FORECAST, AND THE $3.7 MILLION IS GOING TO BE OFFSET BY
LAND PURCHASE OF $2.3 MILLION. 
          THE OTHER INCENTIVES ARE LISTED ON YOUR SLIDE HERE. 
          THE MAJOR HIGHLIGHTS THIS YEAR IS THE WE HAVE A BEGINNING FUND BALANCE OF ALMOST 3 OR
$6.3 MILLION. 
          REVENUE IS GOING TO COME IN ALMOST 10.4 MILLION AND ALMOST 11 MILLION IN EXPENSES. 
          SO WE DRIVE OR MOVE THE FUND BALANCE DOWN TO A $5.7 MILLION DOLLARS. 
          WE HAVE THE ONE SUPPLEMENTAL PACKAGE THAT THE CITY MANAGER PRESENTED TO YOU A WEEK AGO,
AND IT'S FOR THE ECONOMIC DEVELOPMENT ANALYST. 
          SO WE'LL BE ABLE TO DO MUCH MORE IN DEPTH ANALYSIS OF FUTURE PROSPECTIVE DEALS THAT'S
COMING TO TOWN. 
          THIS IS THE THREE YEAR SUMMARY OF THE BUDGET. 
          AGAIN, IT STARTS WITH THE BEGINNING FUND BALANCE THAT I MENTIONED ON THE FAR RIGHT
COLUMN. 
          THE REVENUE NUMBERS AS WELL AS THE EXPENSES. 
          SO THE FUND BALANCE IS GOING TO DECREASE BY $581,000 TO THE $5.7 MILLION THAT I
REFERENCED EARLIER AS WELL. 
          THIS SLIDE IS THE FIVE YEAR FORECAST AND YOU'LL SEE IN THE INCENTIVE LINE WHERE WE DID
HAVE CRAFTMASTER'S IN FISCAL YEAR 24 BUDGET AS WELL AS THE REVISED BUDGET AND YOU SEE THE FORECAST FOR YEAR END NUMBERS
WHERE IT DECREASED FROM THE ALMOST 4.5 MILLION TO LESS THAN $1 MILLION. AND IT GOES UP NEXT YEAR. 
          THEN AFTER THAT, YOU SEE THE SHARP DECLINE IN INCENTIVES. 
          WHAT'S NOTABLE IS THE FUND BALANCE ENDED THE YEAR AT 5.7 MILLION, OR 52% OF EXPENDITURES. 
          THEN IT MOVES BACK OVER 100%, AND AT THE END OF THE FIVE YEAR HORIZON IS OVER 122%. 
          CURRENTLY, THIS SLIDE IS A LIST OF THE CAPITAL PROJECTS FOR THE 4A-4B AS WELL AS TIF 2
AND YOU'LL SEE [INAUDIBLE], AS WELL AS LAKEWOOD LISTED FOR EXPENDITURES THIS YEAR, AS WELL AS NEXT YEAR, AND OTHER MAJOR
EXPENDITURES OF FUTURE PROJECTS OF $10 MILLION IN FISCAL YEAR 27. 
          THEN WE HAVE THE OPTIONS FOR THE RESOLUTION TO APPROVE THE RESOLUTION TO MOVE ON TO
COUNCIL, DENIED OR RECOMMEND OR NOT RECOMMEND APPROVAL AT ALL AND STAFF RECOMMENDS APPROVAL. 
          BE HAPPY TO RESPOND TO ANY QUESTIONS YOU MAY HAVE. 
          MEMBERS I KNOW WE'VE ALL HAD PLENTY OF TIME TO SEE AND DIGEST THESE NUMBERS DURING
PREVIOUS MEETINGS AND DISCUSSIONS WITH THE FULL COUNCIL. 
          ARE THERE ANY QUESTIONS ABOUT THOSE AT THIS TIME? ALL RIGHT. I'M SEEING NO QUESTIONS. 
          I GUESS AT THIS TIME I'LL TAKE A MOTION ON THE APPROVAL OF THE BUDGET FOR FISCAL YEAR
2024-2025. 
          I'D LIKE TO MAKE A MOTION TO APPROVE A RESOLUTION ADOPTING THE BURLESON 4A ECONOMIC
DEVELOPMENT CORPORATION YEAR 24-25 ANNUAL BUDGET. 
          I'LL SECOND. ALL RIGHT. 
          I HAVE A MOTION BY SCOTT, SECOND BY BOEDEKER. 
          ALL THOSE IN FAVOR? AND THE MOTION PASSES. 
          NEXT ITEM ON OUR AGENDA IS ITEM 4. 
          BOARD REQUEST FOR FUTURE AGENDA ITEMS OR REPORTS. 
          DOES ANYONE HAVE ANY SUCH REQUEST? I SEE NONE. 
          HAVE WE A NEED FOR EXECUTIVE SESSION? WE DO NOT. SO I WILL ADJOURN THE MEETING. 
          DO WE NEED A MOTION TO ADJOURN OR JUST ADJOURN? WE NEED. WE WILL ADJOURN THE MEETING AT 4:07. 
          THANK YOU.
* This transcript was compiled from uncorrected Closed Captioning.