HomeMy WebLinkAbout04/14/04 EDC MINUTES
THE COLONY ECONOMIC DEVELOPMENT CORPORATION
REGULAR BOARD MEETING
CITY HALL CONFERENCE ROOM
APRIL 14, 2004
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 14th day of April 2004, at the
City Hall conference room with the following roll call:
Board Members:
Bob Norris, President Present
A1 Garcia, Vice President Present
Kevin Greene, Treasurer Absent
Rick White, Secretary Present
Bo Trosper, Member Present (Arrived at 8:00 p.m.)
Perry Schrag, Council Liaison Present
Staff Members Present:
Tom Terrall, Director of Economic Development
Cindi Lane, Economic Development Specialist
And with three voting members present, a quorum was established and the following
items were addressed:
Item 1.1. Pledge of Allegiance: President 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 March
d. Summary of current activity regarding development
e. Marketing update
f. Buxton / Corer Haag & Thrasher update
g. Weitzman/Cencor update
h. Quarterly report to City Manager
i. ICSC Update
(a.) Tom Terrall reported that March sales tax came back ahead of projection. (b)
The sales tax graph shows each month this year higher than the past two years. (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 the board has been
made aware of all developments fi.om last month's update. (e) Cindi Lane
discussed website updates, an ad placed in Outlook Magazine, and made the
board aware of a national golf tournament being played at The Tribute in May and
asked if any board members could participate. (f) Kelly Cofer at Cofer, Haag &
Thrasher has given the EDC a list of retailers and a list of restaurants that he will
try to set appointments with at ICSC. The Buxton work is still in progress and
Phase II should be completed in the next couple of weeks. (g) Mr. Terrall said that
he has not spoken with anyone at Weitzman since last month's report but that The
Colony representatives going to the ICSC convention will meet with some of
Weitzman's appointments. (h) Mr. Terrall said that he has made the board aware
of the report's contents in previous meetings. He went to an ICSC seminar
regarding local option elections and there have been results as a result of meeting
people at the NTCAR breakfasts. Mr. Terrall said that he would have an
opportunity to speak briefly at the October breakfast. (i) Mr. Cofer of Cofer, Haag
& Thrasher will make appointments fi.om the list of retailers and restaurants he
emailed to Mr. Terrall. A strategy meeting is being planned for May the week
before everyone leaves for the tradeshow.
Item 2.2. Approval of the minutes of the regular board meeting held March 10,
2004, 4A-Council joint meeting March 22, 2004, and the special meeting held
April 1, 2004: President Norris asked if there were any corrections, changes or
additions that anyone would like to make and there were none. President Norris
proclaimed the minutes to be approved.
3.0 PUBLIC COMMENTS
3.1. Public Input: There was no public input.
4.0 REGULAR AGENDA
Item 4.1. Discussion of NAIOP golf tournament in September: Mr. Terrall explained
that he has discussed the possibility of sponsoring a golf tournament with NAIOP
for over two years but that they had not ever had one and were not ready until this
year when he was contacted by one of their members. They decided that they
wanted to have it at The Tribute and they want The Colony EDC to be their title
sponsor. Mr. Terrall proposed to them that the EDC sponsor $50 for each player
who actually plays up to 144 players and the NAIOP representative agreed. Mr.
Terrall explained the details of the sponsorship and checked with the board
members to see if they were on board with this arrangement. The consensus was
favorable so Mr. Terrall said he would contact the NAIOP representative and let
him know that the EDC would be their title sponsor.
EDC Minutes April 14 2004, Page 2
Item 4.2 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. The board went into executive session at 7:43 p.m.
Item 4.4: Consideration of appropriate action to be taken as a result of executive
session: The board came out of executive session at 8:06 p.m. Rick White made a
motion to approve the Steven L. Thomas Agency incentive agreement and
authorize The Colony Economic Development Corporation president, Bob Norris,
to execute this agreement. A1 Garcia seconded the motion and the motion passed
with all members voted aye.
President Norris adjourned the 4A board at 8:07 p.m.
Cindi L~e C' ~ ~Rob~d~ E~s ~..,~~t
Economic Development Specialist President
EDC Minutes April 14 2004, Page 3