HomeMy WebLinkAbout08/23/03 EDC MINUTES
THE COLONY ECONOMIC DEVELOPMENT CORPORATION
ORIENTATION
THE TRIBUTE
AUGUST 23, 2003
Present: President Bob Norris
Secretary A1 Garcia
Member Bo Trosper
Member Rick White
Absent: Treasurer Kevin Greene
Staff: Tom Terrall
Cindi Lane
1. Introduction of Board Members: The orientation was called to order by Bob
Norris at 8:00 a.m. Breakfast was ordered and served. The board members
introduced themselves and stated what they thought they could do to help the 4A
Board in its goal of recruiting businesses to The Colony.
2. Presidents Comments: President Norris told the board that he welcomed them
and thanked them for coming.
3. Today's Economy and its Effect on Business Recruitment: Tom Ten'all
explained how the economy affects recruitment efforts. There is much vacant
office space, a high vacancy rate in distribution, limited zoning, vacant space in
big box retail.
4. Challenges to The Colony Recruitment Effort: The Colony has virtually no
inventory for lease. Citizens of The Colony have elected not to have industrial
zoning which prevents manufacturing companies from locating in The Colony.
Much of the commercial property is investor-owned. The proximity to Stonebriar
and Vista Ridge malls have prevented several retail stores from locating in The
Colony.
5. House Bill 2912 and the Development Corporation Act: Mr. Terrall explained
the history of H.B. 2912, retail limitations, and explained that he predicts that
there will be several attorney general opinions coming out as cities proceed with
development and incentives.
6. The Application Process: Because of H.B. 2912: Mr. Terrall will possibly
rewrite sections of the Comprehensive Policy Statement and bring the revised
document to the board and ultimately to the council for approval. Mr. Terrall said
that he is keeping up with changing rules and regulations. He explained the __
negotiation process to the new board members.
7. Administrative Issues: Mr. Terrall explained recruitment issues; packets that are
given out to potential clients were distributed. Questions were answered.
President Non'is adjourned the meeting at 11:15 a.m.
Cindi Lane Bob Norris
Economic Development Specialist President
EDC Minutes August 26, 2001, Page 2 of 2