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HomeMy WebLinkAbout11/09/2000 CDC MINUTES THE COLONY COMMUNITY DEVELOPMENT CORPORATION REGULAR SESSION NOVEMBER 9TH, 2000 Present: Susan King - President Sue Walden - Secretary Brinker Hill - Member John Sanders - Member Absent: Richard Boyer - Vice President Vicki Briggs - Treasurer Delmer Pinson - Member Staff: Pam. Nelson Sam Fitzgerald Kathy Neal 1. STAFF REPORTS - The TexPool account is doing very well. Financial statements were not available to present at this meeting. REPORT BY 4A BOARD EX-OFFICIO - The 4A Board met last night and discussed their advertising. They continue to contact the same people repeatedly about locating to The Colony. Their main target is real estate people. They had an executive session at which they discussed the new Gymnastics Academy. The board recommends that for the first five years the Gymnastics Academy is here, they will not receive a tax abatement. When they pay their property taxes, they will get a refund of the property taxes they have already paid. The first year they will get 100%, the second year 80%, the third year 60%, the fourth year 40% and the fifth year 20% and all this is not to exceed $25,000. 2. UPDATE FROM DIRECTOR / ASST. DIRECTOR - MEMO REGARDING LEGISLATIVE UPDATE OF TAX DOLLARS - Pam reviewed the memo regarding the proposed changes in 4A and 4B tax dollars. There are three areas of concern. The first is to expand the authorization for projects to include transportation services for communities that are located close to urban areas but are not part of the transit authority. The second is using 4B funds to offer better jobs programs consisting of early childhood education, after school enrichment, literacy training, scholarship programs and expanded work force programs. This may or may not require an election. The third is a major concern that has already affected a city in the metroplex. It is E Commerce. Because there are so many sales being done through the internet, companies and corporations do not have to pay any sales tax. This has happened in Lancaster with Southwestern Bell. They lost millions of dollars in tax revenue when SWB went totally E-Commerce. VOLUNTEER APPRECTIATION BANQUET - Pam reminded everyone to RSVP to Ruthann. Pam and Sam will be at an Athletic Business Conference in Orlando. RIDGEPOINTE PARK GROUNDBREAKING - Sam informed everyone that dirt began moving on Monday. There is a minor problem with the channel to the south of the playground area - the silt has made it to where it is completely level with the playground area. The water goes south and north instead of straight west around the playground area. Dean's Construction will put a temporary channel to the south and west so the water will divert around the playground area. This will be a temporary fix so the ground can dry and equipment can get on it. BLUE SKY - The electrical is in and they are now installing the heating system. Sam suggested that everyone go and see the facility. 3. APPROVAL OF MINUTES OF OCTOBER 11TH, 2000. Sue made a motion to approve the minutes of October 11t", 2000. John seconded the motion. Bunker abstained. The motion carried. 4. DISCUSSION AND CONSIDERATION OF THE CONTRACT FOR THE DESIGN OF THE COMMUNITY COMPLEX PHASE I WITH DUNKIN, SIMS & STOFFELS. Pam has received the formal contract from Dennis. The Park Board has reviewed this contract. Pam said that because we are not sure of what the actual development cost of the park site will be, she has instructed Dennis to put the top dollar amount in the contract and have him base his fees on a percentage of that. Then we would have a "not to exceed fee" from him. This will go to City Council on Nov. 20"' for their approval. John made a motion to approve the contract to reflect the top dollar amount and the not to exceed figure. Sue seconded the motion. The motion carried. 5. DISCUSSION AND CONSIDERATION OF NAME AN THEME FOR THE COMMUNITY COMPLEX. Pam informed the board that decisions need to be made soon regarding this issue. The grant application is due in January and we have not provided Dennis with a lot of the information he will need to include in the grant. The Park Board has suggested having a work session with 4B to discuss this issue. The board agreed to have a work session on Dec. 7t" with the Park Board. 6. DISCUSSION AND CONSIDERATION OF CHANGING THE DAY OF THE MONTHLY MEETING. Sam recommended the meeting day change because the TexPool and financial statements are not available until the 12"' - 15"' of each month. By changing the day to the 3rd or 4" Thursday, it will allow the board to receive current financial information. If the board agrees to change the day, it will go into effect in January, 2001. John made a motion to change the meeting day to the 3rd Thursday of every month. Sue seconded the motion. The motion carried. 7. DISCUSSION OF ALLOCATION OF FUNDS FOR MEMORIAL DRJOFFICE CREEK DRAINAGE IMPROVEMENTS. Pam informed the board that there have been several meetings over the past several months regarding this issue. The biggest issue now is the construction of Memorial Dr. JNC owns the property to the south. They told us they have no money because it is all tied up in the drainage improvements. They have asked that if we want to build all 4 lanes that we build their 2 lanes and enter into an agreement with them. The agreement would be as they sell off their parcels of land to the south, we would get a percentage of the sales money to reimburse us for their 2 lanes. If the property isn't sold within 2 years, the reimbursement would be due in full. There would be an interest accumulation of prime plus 1% to carry the loan. 8. OTHER BUSINESS - Pam and Sam met with Clayton Downing with LISD to discuss whether the district had any interest in participating in the development of the community complex because of its proximity to the high school. He said they wouldn't be interested in participating with any of the fields, but there are some LISD board members who want to go forward with a bond election for a new olympic size natatorium. It would be an 8-9 million-dollar bond election. They are looking into the legalities of the district using their funds on someone else's property. Pam thinks that is something that could be easily resolved. The meeting was adjourned at 7:55 p.m. Katfly Nea Recording Secretary Susan King, President