HomeMy WebLinkAbout07/09/03 EDC MINUTES
THE COLONY ECONOMIC DEVELOPMENT CORPORATION
REGULAR BOARD MEETING
CITY HALL COUNCIL CHAMBERS
JULY 9, 2003
The Regular Session of The Colony Economic Development Corporation of the City of
The Colony, Texas, was called to order at 7:02 p.m. on the 9th day of July 2003, at City
Hall with the following roll call:
Bob Norris, President Present
Kevin Greene, Treasurer Present
A1 Garcia, Secretary Present
And with three voting members present, a quorum was established and the following
items were addressed:
Item 1.1. Pledge of Allegiance: Bob Norris led in the Pledge of Allegiance.
2.0. CONSENT AGENDA
Item 2.1. Reports:
a. Cash flow projection
b. Monthly V2 Cent Sales Tax graph
c. Tax Allocation Summary for May and June
d. Monthly report from May and June to City Manager
e. Marketing update
f. Summary of current activity regarding development
g. Report of ICSC conference and tradeshow
h. Legislative update
(a.) Tom Terrall went over the cash flow projection, commenting that the May
and June sales tax exceeded the forecast slightly. (b) The sales tax graph shows a
34% increase in May and a 43% increase in June fi.om the base year of 2000. (c)
The tax allocation summary is there for the board members to compare our tax
revenues with those of other cities. (d) Mr. Terrall said that progress was being
made with a developer of retail for the 30 acres east of The Home Depot. He is
still in touch with ICSC contacts. (e) Cindi Lane reported that the first direct mail
piece was mailed last week. There will be another ad placed in Site Selection
Magazine. Updates are currently being made to the website. A new contact has
taken over the website for Leapfrog Technologies. President Norris suggested
reporting the number of hits made to the website each month at the board
meeting. (f) Mr. Terrall is working with a developer and has helped to reduce the
costs of land preparation. The property closed in June and a press release will
come out soon. Incentives were involved and an agreement will be brought to the
board for approval. Mr. Terrall is working on two leads from the ICSC
conference. (g) Councilman Schrag wrote a report on the ICSC trip and was very
satisfied with how the trip went. Mr. Ten'all thanked Councilman Schrag for his
report. Mr. Terrall said that 73 companies were visited and 14 appointments were
held. (h) Mr. Ten'all gave highlights of legislative bills that w~re passed including
H.B. 275, H.B. 2912, H.B. 3075, and H.B. 1771. The Texas Department of
Economic Development was abolished and Texas economic development was
moved to the Govemor's office.
Item 2.2. Approval of the minutes of the board meeting held May 14 2003: President
Norris asked if there were any corrections, changes or additions that anyone
would like to make and there were none. A1 Garcia made a motion to approve the
minutes as presented. Kevin Greene seconded the motion and the motion carried
with all members voting aye.
3.0 PUBLIC COMMENTS
3.1. Public Input: There was no public input.
4.0 REGULAR AGENDA
Item 4.1. Discussion of orientation handbooks prepared by City Secretary: Patti
Hicks, City Secretary prepared orientation handbooks to be distributed to each
board member for all boards. These handbooks were distributed to the board
members and are to be used as a reference to procedures and topics pertaining to
boards. Mr. Terrall thanks Ms. Hicks for her hard work in gathering and putting
together this information. Mr. Terrall instructed the board members to return their
book when they leave the board.
Item 4.2. Discussion of changes to the Development Corporation Act - House Bill
2912: Mr. Terrall explained that this bill has now passed in the Texas legislature
and it has cleared up the previous vague language of when and when not
incentives may be offered. He plans to explain this bill in great detail at the future
new council member orientation. Mr. Terrall explained the fundamentals of this
bill, why it was written, and how it will affect future incentive offers. President
Non-is suggested that the board read the bill thoroughly and discuss at next
month's board meeting. Mr. Garcia suggested posting or printing the report to
eliminate confusion so citizens can better understand why some projects cannot
be given incentives to by 4A. Mr. Ten'all said he would like to give presentations
to educate city staff, clubs, chamber, and citizens. President Norris proposed to
have an indoctrination set up as soon as the election issue is resolved and there is
a full 4A board.
EDC Minutes July 9 2003, Page 2
Item 4.3. EXECUTIVE SESSION as authorized by section 551.086 of the Local
Government Code regarding Economic Development, to-wit:
A. To deliberate the offer of a financial or other incentive to a business
prospect. Mr. Tcrrall said that he had nothing to bring to executive session this
month.
Item 4.4: Consideration of appropriate action to be taken as a result of executive
session: No action was taken because there was no executive session.
President Norhs said that the agenda was concluded and he adjourned the 4A board at
7:40 p.m.
Cindi Lane · Robert E. Norris
Economic Development Specialist President
EDC Minutes July 9 2003, Page 3