[3.A. Consider and take possible action on the minutes from the August 3, 2026 Economic Development Corporation (Type A) meeting. (Staff Contact: Lisandra Leal, City Secretary)]

AUGUST 3RD, 2026 ECONOMIC DEVELOPMENT CORPORATION TYPE A MEETING.

MEMBERS IF YOU'VE HAD A CHANCE TO LOOK AT THESE MINUTES AND CONCUR, THEN I'LL TAKE A MOTION.

MOTION. SECOND. MOTION BY PHIL AND SECOND BY ALEXA TO APPROVE ALL THOSE IN FAVOR.

MOTION PASSES WITH UNANIMOUS VOTE. NEXT UP IS ITEM 3.B.

[3.B. Consider and take possible action on an easement for a 15-foot-wide sanitary sewer easement located within the Hooper Business Park property. (Staff Contact: Michelle McCullough, Deputy Director/City Engineer)]

TO CONSIDER AND TAKE POSSIBLE ACTION ON AN EASEMENT FOR A 15 FOOT WIDE SANITARY SEWER EASEMENT LOCATED WITHIN THE HOOPER BUSINESS PARK PROPERTY.

THIS WILL BE PRESENTED BY NOT MICHELLE MCCULLOCH, BUT TONY MCELWAIN.

GOOD EVENING. THANK YOU, MR. CHAIR AND COMMITTEE MEMBERS.

BOARD MEMBERS, I SHOULD SAY THIS ITEM BEFORE YOU IS FOR A SANITARY SEWER EASEMENT.

BEFORE WE GET STARTED, I'D LIKE TO MAKE YOU AWARE THAT THE 15 FOOT SANITARY SEWER EASEMENT IS ACTUALLY A 20 FOOT SANITARY SEWER EASEMENT. THAT WAS A SNAFU ON MY DEPARTMENT'S SIDE.

SO WE WOULD NEED TO HAVE YOUR CONSIDERATION OF A 20 FOOT SANITARY SEWER AS OPPOSED TO 15FT.

TALL GRASS, AS YOU KNOW, IS A PROJECT THAT'S LOCATED WITHIN THE CITY'S EXTRATERRITORIAL JURISDICTION.

CITY COUNCIL APPROVED A DEVELOPMENT AGREEMENT ON THIS BACK ON OCTOBER 6TH OF LAST YEAR.

THIS DEVELOPMENT IS PROPOSED TO INCLUDE 4000 RESIDENTIAL UNITS, COMMERCIAL USES AND AN AREA IDENTIFIED FOR NEW JOSHUA ISD SCHOOL.

THE 1ST PHASE THAT STAFF RECEIVED INCLUDES 221 RESIDENTIAL LOTS TO BE SERVED BY THE BURLESON WEST LIFT STATION.

THIS IS RATHER GRAINY, BUT WHAT WE HAVE IS A SCAN OF THE SUBDIVISION PLAT THAT WE RECEIVED FROM THE DEVELOPER, AND THE BLUE ARROW ON THE SCREEN POINTS TO THE 20 FOOT WIDE SANITARY SEWER EASEMENT THAT THEY WILL NEED TO CONNECT THROUGH HOOPER BUSINESS PARK TO ALLOW THEM TO GET SANITARY SEWER SANITARY SEWER SERVICE TO THEIR PROPERTY.

SO WHAT'S BEFORE YOU TONIGHT IS JUST CONSIDERATION OF APPROVAL OF THIS 20 FOOT WIDE SANITARY SEWER EASEMENT IS GOING TO BE DONE BY SEPARATE INSTRUMENT, AND THAT WILL ALLOW THE FACILITATION OF SEWER SERVICES TO THE TALL GRASS PROJECT FOR THIS 1ST PHASE OF DEVELOPMENT.

STAFF, OF COURSE, IS SUPPORTIVE OF THIS AND WOULD RECOMMEND THE BOARD'S SUPPORT FOR A 20 FOOT WIDE SANITARY SEWER EASEMENT LOCATED WITHIN THE HOOPER BUSINESS PARK PROPERTY.

AND I'D LIKE TO ANSWER ANY QUESTIONS THAT YOU MAY HAVE.

MEMBERS. ANY QUESTIONS? I CAN GET THAT. I'LL HAVE TO PULL THAT INFORMATION UP.

IF YOU WANT TO DELAY ACTION UNTIL LATER ON, I CAN DO THAT.

COULD YOU SPEAK INTO YOUR MICROPHONE, SIR? I'M SORRY.

I'M SORRY. PARDON ME. I DIDN'T KNOW HOW MUCH IT COST, SO I WAS JUST WONDERING.

BROWN. BALLPARK. THERE IS NO COST FOR THAT. SO THERE'S NO COST FOR THE EASEMENT.

SO THE 4A. IS SIMPLY DEDICATING THE EASEMENT TO, YOU KNOW, DEDICATING A SECTION OF OUR PROPERTY FOR FUTURE EASEMENT FOR.

AND IT WILL BE OWNED AND MAINTAINED ONCE THE INFRASTRUCTURE IS BUILT, IT WILL BE OWNED AND MAINTAINED BY THE CITY.

SO IT WILL BE OUR OWN SEWER EASEMENT. BUT BECAUSE IT'S A 4.A.

THE FOR A IS DEDICATING THE PUBLIC SEWER EASEMENT TO THE GENERAL GOVERNMENT.

AND MY APOLOGIES, MR. ANDERSON. I MISUNDERSTOOD YOUR QUESTION.

OBVIOUSLY, THE COST FOR THE CONSTRUCTION IS ON THE DEVELOPER'S SIDE.

YES, SIR. ANY OTHER QUESTIONS? I'LL TAKE A MOTION.

SANITARY SEWER EASEMENT LOCATED AT THE HOOPER BUSINESS PARK PROPERTY.

ALL RIGHT. I HAVE A MOTION BY ALEXA, SECOND BY ADAM, TO APPROVE THE 20 FOOT SANITARY SEWER EASEMENT WITHIN HOOPER BUSINESS PARK PROPERTY.

ALL THOSE IN FAVOR? MOTION PASSES BY UNANIMOUS VOTE.

THANK YOU. THANK YOU TONY. NEXT UP IS ITEM 3.C TO CONSIDER AND TAKE POSSIBLE ACTION ON A RESOLUTION

[3.C. Consider and take possible action on a resolution authorizing the issuance of Burleson 4A Economic Development Corporation Sales Tax Revenue Bonds; establishing procedures and delegating authority for the sale and delivery of the Bonds; providing for the security for and payment of said Bonds; providing an effective date; and enacting other provisions relating to the subject. (Staff Contact: Harlan Jefferson, Deputy City Manager)]

AUTHORIZING THE ISSUANCE OF BURLESON FOR A ECONOMIC DEVELOPMENT CORPORATION, SALES TAX, REVENUE BONDS,

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ESTABLISHING PROCEDURES AND DELEGATING AUTHORITY FOR THE SALE AND DELIVERY OF BONDS, PROVIDING FOR THE SECURITY FOR AND PAYMENT OF SAID BONDS, PROVIDING AN EFFECTIVE DATE AND ENACTING OTHER PROVISIONS RELATING TO THE SUBJECT.

THIS WILL BE PRESENTED BY HARLAN JEFFERSON, DEPUTY CITY MANAGER.

THANK YOU, MR. CHAIRMAN. GOOD EVENING, MEMBERS OF THE BOARD.

BEFORE I GET STARTED, I WANT TO INTRODUCE MARTY [INAUDIBLE], OUR FINANCIAL ADVISOR.

SHE'S WITH HILLTOP. AND WE ALSO HAVE WITH US COOPER ANDERSON, OUR BOND COUNCIL.

HE'S WITH MCCALL PARKHURST. I WANT TO BEGIN, AND I'LL END ALSO WITH THE SUMMARY OF THE PARAMETER ORDINANCE.

IT COVERS A CELL IN REVENUE BONDS IN THE AMOUNT OF $6,760,000.

THE MAXIMUM INTEREST RATE THAT WE ARE SITTING HERE 6.5% AND NET PRESENT VALUE THAT WE'RE ASKING FOR IS AT LEAST 0.5%. IT'S A 20 YEAR TERM GOING OUT TO SEPTEMBER 1ST OF 2046.

AND THEN WE'RE ASKING NEXT TO THE LAST BULLET THAT THE PRICING OFFICER, WHICH IS THE CITY MANAGER, EXERCISED THIS AUTHORITY STATES HERE 1 YEAR. THAT'S AS FAR OUT AS THE REVENUE BOND GOES.

BUT AS WE WERE DISCUSSING THE TERM, WE WANT TO HAVE CONSISTENCY AMONG THE REVENUE BONDS.

GEO BONDS, AS WELL AS COS THAT WERE ASKED THE COUNCIL TO AUTHORIZE LATER THIS EVENING AT 90 DAYS.

SO ALL THE DOCUMENTS SHOW 90 DAYS OTHER THAN THIS ONE BULLET HERE.

SO IF YOU LOOKED AT THE DEPARTMENT MEMO AS WELL AS LATER IN THIS PRESENTATION, IT'LL SAY 90 DAYS, AND THEN WE'RE AROUND THE ISSUANCE TO THE NEAREST $5,000.

THIS SHOWS OUR BOND SCHEDULE GOING OUT TO 2032.

THE YEAR OF INTEREST IS THE 2026 YEAR. SO THIS SUMMARIZES THE REVENUE BONDS, THE COS, AS WELL AS THE GEOS, WHICH I'LL GO THROUGH LATER WITH THE FULL COUNCIL.

THE ONE THAT YOU'RE PARTICULARLY INTERESTED IN NOW IS THE 4A.

REVENUE BONDS, THE $6,026,519. THE SUMMER AT THE BOTTOM SHOWS ALL OF THE GOALS THAT WE'LL BE ASKING FOR.

AUTHORIZATION FOR $17.2 MILLION. THE SEALS TOTAL $34.4 MILLION.

AND THEN OF COURSE, THE REVENUE IS $6 MILLION.

THIS IS THE CAP FOR THE 4A. AND THE PURPOSE OF THE REVENUE BONDS IS THE LAND ACQUISITION AT HIDDEN CREEK PARKWAY AND I-35W. LAST FALL, WE WERE ABLE TO SECURE THE LAND.

WE USE REIMBURSEMENT RESOLUTIONS THAT THE COUNCIL AUTHORIZED THAT ALLOW US TO MOVE FASTER.

AND WE'RE NOT WE'RE NOT WEREN'T PLANNING ON ISSUING THE DEBT UNTIL THIS SUMMER.

SO. SO WE'RE RIGHT ON SCHEDULE. THIS SHOWS THE 4A.

CORPORATIONS FUND BALANCE AT ITS PEAK FOR THIS YEAR.

WE ANTICIPATE BEING AT THE $8.7 MILLION. AND THEN YOU SEE THE PROGRESSION GOING FURTHER OUT DURING THE 5 YEAR HORIZON.

THE AUTHORIZATION LEGAL AUTHORIZATION TO ISSUE PERIMETER ORDINANCE LINE CHAPTERS 1371, AS WELL AS 1207 OF THE TEXAS GOVERNMENT CODE.

IT APPLIES TO NEW MONEY AS WELL AS REFUNDING OPPORTUNITIES, AND AGAIN, ALLOWS UP TO 1 YEAR, WHICH WE'RE NOT ASKING TO AUTHORIZE THAT THAT FAR OUT TO EXECUTE THE PARAMETERS.

THE WHY DO WE USE THE PERIMETER ORDINANCE OR RESOLUTION IN THIS CASE, MARKET RESPONSIVENESS, EFFICIENCY CONTROLS, AS WELL AS DELEGATION AUTHORITY.

THE COUNCIL USED THIS AUTHORITY LAST YEAR BECAUSE OF CONCERNS UNREST BECAUSE OF TARIFFS, AND WE DIDN'T KNOW WHEN THEY WOULD CHANGE AND AFFECT THE MARKET.

THAT'S STILL IN PLAY THIS WEEK. THERE'S ANOTHER 50% TARIFF SCHEDULED TO GO INTO EFFECT ON CANADA.

SO THAT STILL CAN AFFECT US. BUT THE MAIN CONCERN THIS YEAR IS THE WAR WITH IRAN.

IT MIGHT AFFECT THE MARKETPLACE. SO THAT'S WHY WE'RE ASKING TO USE PARAMETERS TO GIVE US OPTIONS TO RESPOND TO ANY ANY RAPID CHANGE.

AN EXAMPLE OF HOW IT WORKS IS THAT YOU USE A PARAMETER RESOLUTION.

IN THIS CASE, YOU CAN AUTHORIZE UP TO $10 MILLION NOT TO EXCEED 5% INTEREST.

THE TERM 20 YEARS AND GOING OUT TO 180 DAYS WOULD BE AN EXAMPLE.

AND THEN THE PRICING OFFICER OF THE OF THE IN THIS CASE, THE CITY MANAGER HAVE A HAVE TO AUTHORIZE THE ISSUANCE OF THE DEBT AS LONG AS IT MEETS THOSE TYPE OF PARAMETERS. AND I GO THROUGH THE SPECIFIC ONES FOR THIS RESOLUTION IN A MINUTE.

SUMMARY OF THE PARAMETER RESOLUTION. THEY BASICALLY PROVIDE FLEXIBILITY IN ENVIRONMENT CHANGING.

CHANGING MARKET CONDITIONS APPLY TO REFUNDING AS WELL AS NEW MONEY ISSUES, AND EMPOWER THE CITIES TO ACT STRATEGICALLY AND DYNAMICALLY IN MARKET CONDITIONS.

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AGAIN, HERE'S THE SUMMARY. BASICALLY, THE REVENUE BONDS ARE WE'RE ASKING TO CONSIDER THE $6,760,000 NOT TO EXCEED 6.5% INTEREST RATE OF NET PRESENT VALUE SAVINGS OF 0.5%, AND NOT TO A MATURITY TO GO OUT BEYOND SEPTEMBER 1ST OF 40 OR 2046. AND THEN HERE'S THE 90 DAY PERIOD THAT WE WOULD HAVE TO HAVE TO EXECUTE THE AUTHORIZATION WITHIN THE PERIMETER ORDINANCE. THIS IS THE SCHEDULE, THE DEBT SCHEDULE WE PUT TOGETHER.

WE STARTED BACK IN JUNE OF THIS YEAR. THE HIGHLIGHTED OR BO ITEMS OR ACTION ITEMS THAT THE COUNCIL HAD TAKEN OR, OR PIVOTAL DATES FOR NOTICES. AND WHERE WE ARE NOW IS ON AUGUST THE 17TH.

LATER TODAY, WE ASK THE COUNCIL TO REALLY PASS A RESOLUTION SUPPORTING THE RESOLUTION THAT'S BEFORE YOU, AND THEN WE WILL PROCEED WITH ISSUING THE DEBT.

WE'RE NOT ON HERE, BUT ON SEPTEMBER THE 14TH IS THE DATE WE'RE TARGETING TO COME BACK TO THE CITY COUNCIL AND GIVE A REPORT ON THE RESULTS OF THE SALE OF THE BONDS. SO WE'RE BASICALLY BE CLOSING THE LOOP AT THAT TIME, AND WE EXPECT LATER IN SEPTEMBER TO RECEIVE THE PROCEEDS IF WE CONTINUE ON THIS PLAN.

WITH THAT, THE OPTIONS ARE TO APPROVE OR DENY THE CORPORATION'S RESOLUTION.

SUPPORTING THE PERIMETER ORDINANCE. STAFF RECOMMENDS APPROVAL OF THE RESOLUTION.

I'D BE HAPPY TO RESPOND TO ANY QUESTIONS YOU MAY HAVE. THANK YOU.

HARLAN, I APPLAUD STAFF FOR TAKING THIS KIND OF STRATEGY, BECAUSE I THINK IT GIVES US THE GREATEST AMOUNT OF LEVERAGE AND OPPORTUNITY TO TAKE ADVANTAGE OF BOND SALES BY TARGETING THEM FOR THE FOR THE BEST TIMES AND THE BEST OPPORTUNITIES.

GOOD. GOOD JOB THERE. MEMBERS HAVE ANY QUESTIONS ABOUT THE RATES, AMOUNTS, TIMING? HARLAN? IS THAT PRETTY MUCH STANDARD TODAY? 6.5% NOT TO EXCEED? I THINK IT IS FOR THE REVENUE BONDS THE YEAR LATER THE COS AND GEOS IT IS LOWER.

I THINK AROUND 5% IS THE STANDARD. SO IT'S NOT NECESSARILY TRYING TO SET THE BENCHMARK.

WE'RE JUST SETTING A LIMIT THAT WE WANT TO SAY IS SO HIGH THAT WE WOULDN'T RECOMMEND ISSUING DEBT AT THIS TIME.

OKAY. THANK YOU. ANY OTHER QUESTIONS? I'LL TAKE A MOTION.

MOVE TO APPROVE THE RESOLUTION FOR THE BOND SALE.

I HAVE A MOTION BY ADAM AND A SECOND BY PHIL TO APPROVE ALL THOSE IN FAVOR.

I SEE ALL THE HANDS ARE UP THAT PASSES BY UNANIMOUS VOTE.

THANK YOU HARLAN. NEXT ON OUR AGENDA THIS EVENING IS TO CONSIDER AND TAKE POSSIBLE ACTION ON ITEM 3.D TO CONSIDER AND TAKE POSSIBLE

[3.D. Consider and take possible action on a resolution adopting the Burleson 4A Economic Development Corporation FY 2026-2027 annual budget. (Staff Contact: Kevin Hennessey, Director of Finance)]

ACTION ON A RESOLUTION ADOPTING THE BURLESON 4A.

ECONOMIC DEVELOPMENT CORPORATION FISCAL YEAR 2026-2027 ANNUAL BUDGET.

THIS WILL BE PRESENTED BY KEVIN HENNESSY, DIRECTOR OF FINANCE.

THANK YOU, MR. CHAIRMAN. AS MENTIONED, WE'RE HERE TO DISCUSS THE PROPOSED BUDGET FOR THE 4A.

BUDGET FOR THE FY 27 FISCAL YEAR. THIS 1ST SLIDE HERE SHOWS A SUMMARY.

IT KIND OF BREAKS DOWN WHERE WE ARE PROJECTING TO START THE NEXT FISCAL YEAR, WHAT OUR PLANNED REVENUES AND EXPENDITURES ARE, AND THEN SHOWING THE ENDING FUND BALANCE. AND WE ALSO, AS A PART OF THAT $11.6 MILLION IN EXPENDITURES, WE HAVE THAT, THAT KIND OF PREQUEL BULLET POINT SHOWING THE BREAKDOWN OF, OF THE 4.9 OF THAT 11.6.

HOW THAT BREAKS DOWN ACROSS THE DIFFERENT INCENTIVES THAT THE CITY IS PLANNING OR IN OUR BUDGET FOR THE NEXT FISCAL YEAR.

NOW, BEFORE WE LOOK AT THE THE FUN SUMMARIES, BEGIN BY LOOKING AT THE PROPOSED SUPPLEMENTALS.

AND AS YOU MAY REMEMBER, THE RESTORATION OF MERIT TO OCTOBER 1ST LAST YEAR, IT WAS A PROPOSED REDUCTION TO REMOVE TO REMOVE THE MERIT FROM OCTOBER TO DECEMBER OR EXCUSE ME, JANUARY COUNCIL SAW FIT FOR THE 1 YEAR TO RESTORE THAT TO OCTOBER.

THIS SUPPLEMENTAL REQUEST IS ACROSS THE CITY TO RESTORE THE MERIT BACK TO OCTOBER 1ST FOR FY 27 AND INTO THE FUTURE.

THEN THERE'S ALSO AN ITEM FOR $15,000 FOR THE ECONOMIC DEVELOPMENT WEBSITE TO BOLSTER THAT WEBSITE UP.

SO THOSE INCLUDED HERE IS THE THREE YEAR SUMMARY THAT WE HAVE FOR THE PROPOSED BUDGET.