City of Grand Prairie

The regular meeting included the approval of the November 15, 2021 minutes. Key agenda items involved a review of the Monthly Financial and Investment Reports for October, November, and December 2021, detailing base rent, additional rent, interest earnings, and total cash/investments. The corporation also authorized reimbursement to the City of Grand Prairie for expenditures covering October 1, 2021, through December 31, 2021. A presentation on the Action Park Alliance Skate Park Construction Update detailed improvements and an anticipated completion in April or May. Finally, the committee approved increasing Capital Expenditure Funds by $25,000, from $50,000 to $75,000, for improvements to the City Suite at Lone Star Park.

Key discussions included the approval of the May 20, 2024, meeting minutes, review and approval of the Monthly Financial and Investment Reports for April through June 2024, detailing base rent, additional rent, interest earnings, and total cash and investments for each month. Committee reports were provided, with the Finance Committee having nothing to report and the Construction Committee having no report for the month. Committee assignments were made, designating Jorja Clemson as Chair and Junior Ezeonu as a member of the Finance Committee. The Corporation approved the reimbursement of operating expenses to the City for the period of April 1, 2024, through June 30, 2024. A motion was approved to unallocate $1,500,000 of funding initially designated for the Grand Prairie Equine Project pending site selection. The Board also approved a resolution transferring $300,000 to the City of Grand Prairie for the preliminary hydrology study, and approved a five-year agreement for Payment in Lieu of Taxes (PILOT) with the Grand Prairie Municipal Reclamation District for $165,000 annually. Finally, the Board approved the amendment of the FY 2023-2024 Budget, including adjustments to interest income, legal fees, audit fees, and the PILOT payment, and proposed the FY 2024-2025 Budget. A briefing on Lone Star Park's 2024 and 2025 Capital Expenditures and the Thoroughbred Racing Season update was also presented. An executive session was held to deliberate regarding real property.

The regular meeting covered several financial and operational matters. Monthly Financial and Investment Reports for January through March 2025 were presented, detailing base rent, additional rent, interest earnings, and total cash and investments at the end of each month. Committee reports were provided for Contract Negotiations, Construction, and Finance, with no items to report. The Board approved a reimbursement to the City for the period of January 1, 2025, through March 31, 2025. An update was received regarding the Horse Stables, Grazing Area, and Entryway at Lone Star Park, noting the rejection of a specific land request, with further investigation into alternative sites planned. The allocation of $20,000.00 for a Cricket pitch at Prairie Park was approved. A request for $500,000.00 for Building Blocks was tabled for the next meeting. Approval was granted for the allocation and transfer of $500,000.00 for Pickleball Courts at Friendship Park, with completion expected in sixty to ninety days. A presentation was given on the Proposed Budget for FY 2025-2026, which will be considered at the subsequent meeting. A briefing on Lone Star Park's 2024 and 2025 Capital Expenditures and the 2024-2025 Thoroughbred Racing Season update was provided, covering attendance figures and capital project status.

The board meeting agenda included reviewing and approving the minutes from the previous meeting in May 2025 and the monthly financial and investment reports for April through June 2025. The Finance Committee reported on reviewing the proposed budgets for FY 2025 and FY 2026, including proposed increases to reimbursements for city staff time and audit fees. The board approved the reimbursement of fees and operating expenses to the City for the period of April 1, 2025, through June 30, 2025. A resolution approving the proposed budget for FY 2025-2026 and amending the FY 2024-2025 budget was approved, with an amendment specifying the location of pickleball courts be changed to Friendship Park. A briefing on Lone Star Park included updates on 2024 and 2025 Capital Expenditures, noting that surveillance camera and suite renovations were in progress. Updates on the thoroughbred racing season indicated 41 race days, a 12% increase in Kentucky Derby attendance, and a handle over $1 million on Memorial Day, noting a lack of export revenue due to ongoing litigation. The upcoming quarter horse racing season was noted to begin September 5th with 32 race days.

The regular meeting of the Corporation was canceled due to a lack of quorum. The agenda items included the review of minutes from the February 7, 2022 meeting, presentation of the Monthly Financial and Investment Reports for January and February 2022, and reports from the Contract Negotiations, Construction, and Finance Committees. Other items included the reimbursement to the City for January 1, 2022, through February 28, 2022, a resolution approving a contribution to the Lone Star Park 25th Anniversary Event, discussion of the Proposed Budget for FY 2022-2023, and a Lone Star Park Report. The Corporation may have discussed matters related to consultation with the attorney, real property, personnel matters, or economic development negotiations in an executive session.