Nov 03, 2025 Economic Development Corp. (Type A)

[00:00:01]

FIRST ITEM ON OUR AGENDA IS CITIZENS APPEARANCES.

[1. CALL TO ORDER]

NEXT UP IS ITEM THREE A TO CONSIDER AND TAKE POSSIBLE ACTION ON MINUTES FROM THE OCTOBER 20TH ECONOMIC DEVELOPMENT CORPORATION TYPE A MEETING.

[3.A. Consider and take possible action on the minutes from the October 20, 2025 Economic Development Corporation (Type A) meeting. (Staff Contact: Monica Solko, Deputy City Secretary)]

SECOND. MOTION BY ALEXA TO APPROVE. SECOND BY PHIL.

ALL THOSE IN FAVOR? MOTION PASSES BY A UNANIMOUS VOTE.

NEXT UP IS ITEM THREE B TO CONSIDER AND TAKE POSSIBLE ACTION ON A RESOLUTION AUTHORIZING A REAL ESTATE CONTRACT BETWEEN THE BURLESON FOUR A ECONOMIC DEVELOPMENT CORPORATION

[3.B. Consider and take possible action on a resolution authorizing a real estate contract between the Burleson 4A Economic Development Corporation and FJRH Burleson DLA, LLC for the purchase of approximately 11.027 acres located at 1019 S. Burleson Boulevard, Burleson, Texas in the amount of $6.0 million dollars. (Staff Contact: Alex Philips, Director of Economic Development)]

PRESENTED BY ALEX PHILLIPS. THANK YOU FOUR A PRESIDENT.

BOARD MEMBERS. ALEX PHILLIPS, ECONOMIC DEVELOPMENT DIRECTOR FOR THE CITY OF BURLESON, HERE TO PRESENT TO YOU PROJECT VISION.

THIS PROPERTY IS LOCATED WITHIN THE HIDDEN CREEK CORRIDOR.

PROPERTY IS ADJACENT JUST SOUTH OF THE FWAVE ROOFING WHERE THE BURLESON FOUR A CURRENTLY OWNS THAT PROPERTY AND LEASES IT BACK TO FWAVE FOR THEIR MANUFACTURING FACILITY. THE PURCHASE OF THE PROPERTY WILL ALLOW THE FOUR A TO FURTHER THEIR EFFORTS TO ATTRACT NEW PRIMARY JOBS.

WE WOULD MARKET THE PROPERTY FOR FUTURE REGIONAL OR CORPORATE HEADQUARTERS AS WELL.

THE CONTRACT DETAILS. ITS 11.027 ACRES OF PROPERTY IS $6 MILLION.

THE BURLESON FOUR A WOULD HAVE A 60 DAY DUE DILIGENCE PERIOD.

STAFF WOULD CONDUCT A PHASE ONE AND A GEOTECH REPORT PRIOR TO THE CLOSING.

THE EARNEST MONEY OF $75,000 IN THE CONTRACT WOULD GO TOWARDS THE CLOSING OF THE PROPERTY AS WELL.

CLOSING THE PROPERTY WOULD HAPPEN WITHIN 15 DAYS AFTER THE DUE DILIGENCE PERIOD IS OVER.

THE PURCHASE OF THIS TRACT WOULD GIVE THE BURLESON EDC APPROXIMATELY 18 ACRES OF I-35W FRONTAGE RIGHT THERE AT HIDDEN CREEK, SO THE FOUR A WOULD CONTROL THAT FRONTAGE. THE REST OF THAT PROPERTY THERE ON HIDDEN CREEK.

SO THIS IS THE CURRENT FOUR A FIVE YEAR FORECAST.

YOU CAN KIND OF SEE THE PROJECTED PERCENTAGE DOWN THERE AT THE BOTTOM FOR THIS YEAR, THE 25-26 BUDGET YEAR BEING AT THAT 36.85%.

AND IT BUMPS WAY UP TO OVER 100% IN THE YEARS MOVING FORWARD WITH THE PURCHASE.

YOU CAN SEE, YOU KNOW, 25-26 STAYS THE SAME, 26-27 IS AT 100%.

AND THEN WE GET TO THE 80 HIGHER 80% FUND BALANCE ON THE PROJECTION IN THE FIVE YEAR FORECAST.

SO FOUR A STILL IN A VERY GOOD SPOT MOVING FORWARD EVEN WITH THE PURCHASE OF THIS PROPERTY.

SO STAFF RECOMMENDS THE APPROVAL OF A RESOLUTION AUTHORIZING THE REAL ESTATE CONTRACT FOR THIS PURCHASE OF THIS PROPERTY OF 11.027 ACRES, THEY'RE LOCATED ON SOUTH BURLESON BOULEVARD IN THE AMOUNT OF $6 MILLION HERE TO ANSWER ANY QUESTIONS.

ALL RIGHT. THANK YOU. ALEX. QUESTIONS? ANYONE. IT'S A GOOD MOVE.

I THINK IT'S A IT'S A GOOD MOVE FOR US TO MAKE AND A VERY IMPORTANT PIECE OF PROPERTY THAT SET THE TONE FOR THE DEVELOPMENT ALL AROUND IT.

SO. YES, SIR. ANYBODY WANT TO MAKE A MOTION? I'LL TAKE IT.

I MAKE A MOTION TO APPROVE. ALL RIGHT. I HAVE A MOTION BY LARRY, SECOND BY ADAM TO APPROVE ALL THOSE IN FAVOR.

AND THAT PASSES BY A UNANIMOUS VOTE. ALL RIGHT, NEXT UP IS ITEM FOUR.

BOARD REQUEST FOR ANY FUTURE AGENDA ITEMS OR REPORTS.

MEMBERS. HAVE WE ANY OF THOSE? ALL RIGHT, I SEE NONE.

HAVE WE A NEED FOR EXECUTIVE SESSION UNDER ITEM FIVE? NO, WE DO NOT. SO WE WILL ADJOURN THE MEETING AT 4:35.

THANK YOU ALEX. THANK YOU.

* This transcript was compiled from uncorrected Closed Captioning.