Downtown Development Authority

TYRONE DOWNTOWN DEVELOPMENT AUTHORITY MINUTES June 10, 2024 at 9:00 AM Billy Campbell, Chairman Jeni Mount, Vice-Chairwoman Luci McDuffie, Treasurer Brandon Perkins, Town Manager Ernie Johnson Phillip Trocquet, Asst. Town Manager John Kaufman Ciara Willis, Secretary Nathan Reese E. Allison Ivey Cox, Town Attorney Adam She Absent: Nathan Reese, Board Member Also Present: Krista McClenny, Recreation Assistant Lynda Owens, Recreation Manager I. CALL TO ORDER II. INVOCATION III. PLEDGE OF ALLEGIANCE IV. PUBLIC COMMENTS: The first public comment period is reserved for non-agenda items. Comments are limited to three (3) minutes. Please state your name & address. Comments that require a response may not be answered during this time. The DDA or staff may respond at a later date. V. APPROVAL OF AGENDA A motion was made to approve the agenda. Motion made by Treasurer McDuffie, Seconded by Board Member Johnson. Voting Yea: Chairman Campbell, Vice-Chairwoman Mount, Board Member She, Board Member Kaufman, Treasurer McDuffie, Board Member Johnson. VI. APPROVAL OF MINUTES 1. Approval of the May 13, 2024 meeting minutes. A motion was made to approve the May 13, 2024 meeting minutes. Motion made by Vice-Chairwoman Mount, Seconded by Board Member Kaufman. Voting Yea: Chairman Campbell, Treasurer McDuffie, Board Member She, Board Member Johnson, Vice-Chairwoman Mount, Board Member Kaufman. VII. PRESENTATIONS Downtown Development Authority Page 1 of 5 June 10, 2024 VIII. OLD BUSINESS IX. NEW BUSINESS 2. Consideration to Approve the Tyrone Downtown Development Authority 2024-2025 Fiscal Year Budget. -Phillip Trocquet, Assistant Town Manager Mr. Trocquet shared that the 2024-2025 Fiscal Year Budget had been prepared, considering anticipated funds and capital projects planned. Although the DDA was not required to balance the budget in the same way as the Town, staff balanced the budget for ease of understanding and clarity consistent with the Town’s existing processes. Mr. Trocquet then gave an overview of the 2024-2025 Fiscal Year Budget. He informed the board that the DDA had already received $50,000 of the $300,000 grant awarded by the Fayette County Development Authority (FCDA). The remaining $250,000 was expected to be disbursed as Mr. Woods and the Neighbor’s team progressed quickly on the fire station renovations. The Town had increased its annual contribution to the DDA by approximately $2,227, bringing the total to $30,000. This amount was expected to remain consistent in future years. The funds carried forward line item totaled $166,633, which included unspent funds from the current fiscal year. This line item was significant for two reasons: unspent capital improvement funds, including the original $100,000 and the unspent $50,000 FCDA grant money, and the projection of coming in under budget for the current fiscal year, including unspent contingency funds. He explained that line item reductions for legal services, printing & binding, and office supplies had decreased due to current fiscal year activity. These funds were reallocated to other line items needing increases. The line item for equipment rentals experienced the highest increase, with miscellaneous increases for insurance and utilities based on the current FY activity. There was also a $500 increase for special program supplies. The most significant increase was capital outlay for the building improvements, which was anticipated to begin FY 24-25. He noted that the DDA maintained a healthy contingency of $24,000 to support additional purchases or projects. He pointed out regular revenues and regular expenses regarding fiscal sustainability, excluding the Fire Station redevelopment capital outlay project. The DDA’s regular revenue sources (Town contributions and vendor application fees) total $32,000. He added that regular expenses (insurance, utilities, training, and events) total $27,583, leaving a surplus of $4, 417. This positioned the DDA well for sustainability and budget flexibility. Page 2 of 5  Staff recommended approval of the budget. If the board wishes to modify line items, the budget could be approved with conditions to modify certain line items. He then asked the board if they wanted to modify the line items or had any questions. Board Member Johnson asked if the DDA was earning any interest in our savings account. Mr. Trocquet explained that our investment income was minimal, totaling $200.00 in interest revenues. He suggested putting funds into a higher-yield savings account if the board agreed. Board Member Johnson then inquired about the expenditure of funds for the fire station redevelopment project. Mr. Trocquet anticipated funds would start to be spent by the end of the summer. He added that the DDA would reimburse Mr. Woods once work began. A motion was made to approve the Tyrone Downtown Development Authority 2024- 2025 Fiscal Year Budget. Motion made by Board Member Kaufman, Seconded by Treasurer McDuffie. Voting Yea: Chairman Campbell, Vice-Chairwoman Mount, Board Member She, Board Member Johnson, Board Member Kaufman, Treasurer McDuffie. 3. Consideration to approve a performance agreement for the Ken Scott Magic Show in an amount not to exceed $450.00 for the August First Friday Event. -Phillip Trocquet, Assistant Town Manager Mr. Trocquet informed the board that the Ken Scott Magic Show agreement was for the August First Friday Event. The performance fee was $450.00. Chairman Campbell asked if there would be a band performance besides the magic show. Ms. Owens (inaudible) stated that the magic show would be an hour long and that the recreation staff were researching musical performers for the other hour. Board Member Johnson suggested line dancing to get people involved in the festivities. Ms. Owens replied that it was a great idea. A motion was made to approve the performance agreement for the Ken Scott Magic Show in an amount not to exceed $450.00 for the August First Friday Event. Motion made by Treasurer McDuffie, Seconded by Board Member Kaufman. Voting Yea: Chairman Campbell, Vice-Chairwoman Mount, Board Member She, Board Member Johnson, Treasurer McDuffie, Board Member Kaufman. 4. Consideration to approve a performance agreement with The Men of SAE Band in an amount not to exceed $1,200.00 for the September First Friday Event. -Phillip Trocquet, Assistant Town Manager Page 3 of 5  Mr. Trocquet informed the board that the performance agreement with the Men of SAE Band was for the September First Friday Event. The performance fee was $1,200.00. A motion was made to approve the performance agreement with The Men of SAE Band in an amount not to exceed $1200.00 for the September First Friday Event. Motion made by Vice-Chairwoman Mount, Seconded by Treasurer McDuffie. Voting Yea: Chairman Campbell, Board Member She, Board Member Johnson, Board Member Kaufman, Vice-Chairwoman Mount, Treasurer McDuffie. X. PUBLIC COMMENTS XI. STAFF COMMENTS Mr. Trocquet shared that he was working on a revised contract scope for the fire station redevelopment project. He added that the contract would be sent to the board for review this week, and a special called meeting may be called for approval. The contract would include a detailed timetable for both phases of the project. Treasurer McDuffie inquired about a project timeline for the complete buildout of the fire station building at 935 Senoia Road. Mr. Trocquet stated that he needed to obtain commentary from the board regarding a completion end date. He suggested a three to five- year period before phase two of the permanent buildout would commence. Mr. Trocquet shared that Mr. Woods was a food vendor at the last DDA event and did well. He added that Mr. Woods was boosting his activity level again in the Town and that people were getting excited. Board Member Kaufman asked if we would rely on Mr. Woods’ or the Town’s contractors for exterior renovations for the fire station development project. Mr. Trocquet stated that we would allow Mr. Woods to select his contractors so the project could move quickly. Mr. Trocquet informed the board that their tent frame was broken and needed to be replaced. He suggested fixing it or purchasing a new tent if that did not work. XII. BOARD COMMENTS Vice-Chairwoman Mount thanked the Recreation staff for their hard work organizing the June First Friday DDA event. XIII. EXECUTIVE SESSION XIV. ADJOURNMENT A motion was made to adjourn. Page 4 of 5  Motion made by Board Member Kaufman. Voting Yea: Chairman Campbell, Vice-Chairwoman Mount, Treasurer McDuffie, Board Member She, Board Member Johnson, Board Member Kaufman. The meeting adjourned at 9:20 a.m. By: Attest: Billy Campbell, Chairman Ciara Willis, Secretary Page 5 of 5