HomeMy WebLinkAbout09/17/03 EDC MINUTES
THE COLONY ECONOMIC DEVELOPMENT CORPORATION
REGULAR BOARD MEETING
CITY HALL COUNCIL CHAMBERS
SEPTEMBER 17, 2003
Thc Regular Session of Thc Colony Economic Development Corporation of the City of
The Colony, Texas, was called to order at 7:01 p.m. on thc th
17 dayofSeptembcr2003,
at City Hall with the following roll call:
Bob Norris, President Present
Kevin Greene, Treasurer Present
A1 Garcia, Secretary Present
Bo Trosper, Member Present
Rick White, Member Present
And with all five 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 ~ Cent Sales Tax graph
c. Tax Allocation Summary for August
d. Monthly report from August to City Manager
e. Marketing update
f. Summary of current activity regarding development
(a.) Tom Terrall pointed out that the August sales tax was below projection
slightly and that it was approximately $12,700 below the yearly projection. (b)
Mr. Terrall explained that even though projections for this year are down slightly,
the sales tax graph shows a 27% increase over the base year 2000. (c) The tax
allocation summary is there for the board members to compare our tax revenues
with those of other cities. (d) Mr. Ten-all pointed out that he is currently helping
The Weitzman Group in preparing a marketing packet. He is supplying Weitzman
with information and will receive a copy of the packet when it is completed. The
EDC is in the process of shifting its marketing focus from just Texas to other
areas in the southern region as well as other regions of the United States. (e) Cindi
Lane updated the board on a retail ad that the marketing company is designing for
focus on retail development. She mentioned that Amy McCall of Shapiro would
help gather information from brokers and property representatives on Friday at
the Forum so that she can get information on how to better market to the brokers
and developers. Ms. Lane is currently working on a retail ad and give-a-ways for
the golf toumament. Recent ads completed are for a special section of the Star
Courier Leader, Site Selection Magazine, Business Facilities Magazine, and
Black's Guide. Ms. Lane passed out samples of the ads to the board members.
She reported that the total number of visits to the website for August was 1,138.
(0 Mr. Terrall reported that demolition work was completed on the Billy's site for
a Quick Trip convenience store and gas station at that location. He is meeting
with the broker of Wendy's next week to try to help get some interest in that site.
Cencor is completing a marketing packet for the 30-acre site on S.H. 121. A
10,000 square foot shopping strip is being constructed on the northeast comer of
Main Street and Cougar Alley. O'Reilly's Auto Parts in under construction.
Item 2.2. Approval of the minutes of the board meeting held July 9 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. Review of NTCAR Trade Expo held September 4, 2003 at Hotel Inter-
Continental in Addison, Texas: Mr. Terrall thanked President Norris, Mr.
Garcia, and Rick White for attending and helping out at the tradeshow. Mr.
Tcrrall was able to talk with representatives from major broker firms to find out
whom to call to set up an appointment in order to give presentations about The
Colony's opportunities for development. Business cards were collected and are
being followed up on. Thc Tribute grand prize was drawn and sent out. President
Norris said that he appreciated all the hard effort that Mr. Tcrrall and Ms. Lane
went through to make the Expo a success and he thought that this was the best
Expo he had been to. He had an opportunity to visit with a broker who specializes
in refurbishing shopping centers. Mr. Garcia pointed out that he and Ms. Lane
spoke with a hotelier about the impact that Five Star Community Complex will
have on future hotels and he mentioned his idea of trying to put together a
package with local hotels, golf, and restaurants to go in together and offer visitors
a package to stay and dine in The Colony. Mr. White congratulated Mr. Tcrrall
and Ms. Lane for their work on the booth and how impressive it looked, even --
compared with other cities at the Expo. Mr. White said that he heard from many
attendees that the food was great and he was glad he could be there to help.
EDC Minutes September 17 2003, Page 2
Item 4.2. Discussion of ethics pertaining to attracting businesses: iVh'. Terrall said that
he felt that he did not complete the comments he wanted to make at the board
orientation meeting regarding ethics. He clarified when it is not appropriate to
discuss opportunities in The Colony with prospects and when it is appropriate.
President Non'is pointed out that when board members are traveling with their
regular jobs if a situation comes up, research and give the information to Mr.
Terrall.
Item 4.3. Discussion of forum for major landowners/brokers in The Colony
September 19, 2003 at Golden Corral: Mr. Ten-all reminded the board of the
forum this Friday. All S.H. 121 property representatives, Austin Ranch and
Industrial Properties representatives have been invited and most of them will be in
attendance. It will be a work session and Mr. Ten'all will explain to them what he
has done to market their properties, give examples, and find out from them what
they hear when they are out marketing their properties. Hopefully the EDC and
their marketing company can learn where to focus our marketing efforts. A
representative from the EDC advertising company, assistant city manager, and
executive director from The Colony Chamber will be there as well.
Item 4.4. Discussion of council member orientation being held September 29, 2003
at The Tribute: Six council members and four board members have confirmed
their attendance at this orientation. The purpose is to inform all council members
of the laws that govern the incentive procedures of the 4A Board and for the
council members and the 4A board members to meet each other and become
better acquainted. The EDC booth will be set up and the marketing material will
be displayed.
Item 4.5. Discussion of retail meeting and bus tour of Frisco and The Colony
organized by NTCAR in October: Mr. Terrall informed the board that the actual
date of this bus tour has not been finalized and that it probably will be sometime
in November. The reason that Frisco is included is because Frisco has several
retail sites and just touring The Colony sites cannot be justified because there is
not much retail on the ground. The tour will originate in Frisco and go through
The Colony on S.H. 121. It will then proceed to Austin Ranch. The tour should
draw a large crowd.
4.6. Discussion of NTCAR golf tournament being held October 27, 2003 at The
Tribute: Mr. Terrall gave the board an update of the plans for the golf
tournament. He spoke of the giveaways that have been ordered, a mini trade show
that will allow participating property representatives to display information on
their properties. In addition to being the Title Sponsor, The Colony EDC will also
be a hole sponsor and will have a tent set up at one of the holes. That is where the
goodie bags will be distributed and it will be a good chance to have some one-on-
EDC Minutes September 17 2003, Page 3
one contact with the players. The Colony EDC has 12 slots in the tournament in
which they will place board members, council members, and city staff members
to mingle with the other players. Mr. Terrall encouraged the board members to
participate in the golf part of the tournament and to come to the dinner afterwards.
NTCAR will begin promoting the sign-up for the tournament three weeks prior to
the tournament date. NTCAR expects a minimum of 130 players. They are
promoting the tournament at all of their bus tours between now and then and are
still looking for hole sponsorships. They will provide Mr. Terrall with weekly
updates. They agreed to using The Colony's name in the sponsorship name and
awarding the sponsorships in The Colony.
Item 4.6. EXECUTIVE SESSION as anthorized 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. There was no executive session.
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 Norris adjourned the 4A board at 7:40 p.m.
Cindi Lane ~Robert E. Norris'
Economic Development Specialist President
EDC Minutes September 17 2003, Page 4