HomeMy WebLinkAbout06/19/1997
MINUTES
ECONOMIC DEVELOPMENT CORPORATION BOARD
MEETING
JUNE 199 1997
7:00 p.m.
CONFERENCE ROOM AT CITY HALL
Present:
Board
Gary McClure, President
Mary Watts, Mayor
Sue Walden, Secretary
Rick Manser
Absent
Craig Sloan, Vice President
David Kovatch, Council Member
Ronnie Fischer, Secretary
Staff
Dennis Watson, Staff Liaison
1. CALL TO ORDER
2. ROLL CALL
3. DISCUSSION AND POSSIBLE ACTION ON WYNNEWOOD PENINSULA
GOLF COURSE LEASE AGREEMENT
Mr. Watson informed the Board that the firm conducting the environmental assessment for the
golf course was requesting an additional $4600.00 to complete the study. Mr. Watson reviewed
the history of the study and informed the Board that he felt all of the additional work that was
being required should be included under the original scope of services and the City should not
have to pay these additional funds. After reviewing the document the Board agreed with Mr.
Watson. The Board suggested that Mr. Watson consult the City Attorney for his opinion on
whether this additional work was included under the original scope of services. Mr. Watson
stated that he would follow up with the City Attorney.
Mr. Watson stated that there had been a great deal that had occurred regarding lease negotiations
over the past couple of days. He requested that Mayor Watts bring the Board up-to-date on the
latest developments. Mayor Watts stated that Wynnewood Peninsula, L.P. had revised their
structure of minimum rent payments from their original proposal. The new rent structure was as
follows:
Years 1-4 $10,000
Years 5-8 $27,720 or 3% of net, whichever is greater
Years 9 -15 $50,000 or 3% of net, whichever is greater
Years 16-99 $50,000 or 8% of net, whichever is greater
A lengthy discussion followed on this proposed rent structure. Mayor Watts reminded the Board
that any moneys received by the City from the rent must go back into Corps park land
improvements. Mayor Watts stated that the City Attorney and the Finance Director would be
working with representatives from Wynnewood Peninsula, L.P. on the details of the lease. Mayor
Watts stated that the Board should look closely at the economic benefits that are being brought to
the city by the golf course. She stated that the sales tax alone that the City would generate would
be approximately $24,000 and if the sales tax is passed in January this could double to $48,000.
Mayor Watts informed the Board that Tim House would be making a presentation to the Council
on June 23 at which he would be showing some conceptual plans for the golf course. The Board
would meet on June 24 to discuss making a presentation to Council, endorsing the lease. Mr.
McClure stated that he would like Mr. Manser to give the presentation to Council. Mayor Watts
requested that Mr. Watson check on the number of absences Mr. Sloan has had. Mayor Watts
stated that the lease should be finalized and ready for Council approval at its July 7 meeting.
Mayor Watts also stated that the Board needed to look at the fact that Wynnewood Peninsula
L.P., has not asked for tax abatements, tax rebates, or incentives from the City. She stated that
the Board could use this information in their presentation to Council. A lengthy discussion
followed on what would be included in Mr. Manser's presentation to the City Council. The
Board agreed to come back next Tuesday to make suggestions for Mr. Manser's proposal to
Council.
4. OTHER BUSINESS
There being no further business the meeting was adjourned at 8:15 p.m. The next meeting is
scheduled for June 24, at 6:30 p.m.
Respectfully Submitted, Dennis Watson, Staff Liaison