Forney EDC Sep. 11 2014

During its regular Sep. 11 2014 meeting, the Forney Economic Development Corp:

• Held 45 minute executive session, and took no action
• Treasurers' report shows at 92% of the fiscal year, revenue is at 96% (sales tax is at 94%) and expenses are at 89% of budget. There are $25,000 in Facade Grant requests pending. The bond balance is $1,053,300.
• Approved amendment to Performance Agreement for Groovy’s by extending the completion date by 2 months.
• Approved amendment to Lease Agreement for Groovy’s by changing the lease start date to Nov. 1, 2014.
• Approved amendment to Performance Agreement for Zanata Restaurant by extending the completion date for 5 months, and additional $135,000 for more structural items.
• Approved amendment to Lease Agreement for Zanata Restaurant by extending the lease start date by 5 months.
• Approved the second quarter 2014 incentive payment to Mustang Crossing not to exceed $141,973.94
• Held a second executive session