HomeMy WebLinkAboutMinutes - Economic Development Corp. (EDC) - 12/13/2023 - RegularCITY OF THE COLONY
THE COLONY ECONOMIC DEVELOPMENT CORPORATION
MINUTES — December 13, 2023
The Regular Session of The Colony Economic Development Corporation of The City of The Colony, Texas was
called to order at 7:00pm on the 13th of December, 2023 THE COLONY, TEXAS, with the following roll call:
Tom Tvardzik
President
Present
Kevin Braby
Vice President
Present
Leonard Powell
Member
Present
Brian Buffington
Member
Present
Dave Hicinbothem
Member
Present
Brian Wade
Council Liaison
Present
Keri Samford
Staff
Present
Diane Lemmons
Staff
Present
Amber Downing
Staff
Absent
1.0 1 ROUTINE ANNOUNCEMENTS; RECOGNITIONS:
Call to Order: President, Tom Tvardzik, called the meeting to order at 7:00pm.
Announcement of events and activities':
• 25th Anniversary — Great success, cake at December 5th council meeting
• INCubator Program — Diane Lemmons still mentoring group
• BIG Grant — Homewood Suites approved
• ELM — held author event; importance of non -profits
• Fiber Loop —final testing, then goes live
• Sports Books — received world series books
• Rack House — now hiring
• Dutch Bros - open for business
2.0 1 CONSENT AGENDA
2.1 Acceptance of financial reports through November, 2023
2.2 Acceptance of marketing and print advertising update
2.3 Approval of the minutes of the regular board meeting November 8, 2023
Motion to accept Items 2.1— 2.3, as presented — Keven Braby, Leonard Powell second , motion passed
with all ayes.
3.0 1 REGULAR AGENDA
3.1 No items to consider
4.0 1 EXECUTIVE SESSION AGENDA
I These items are strictly public service announcements. No action will be taken and no direction will be given regarding these items.
4.1 Board shall convene into a closed executive session pursuant to Section 551.072 of the Texas
Government Code to deliberate the purchase, exchange, lease or value of real property located in The
Colony for economic development purposes.
4.2 Board shall convene into a closed executive session pursuant to Section 551.087 of the Texas
Government Code to deliberate commercial or financial information the board has received from
business prospects, and/or to deliberate the offer of a financial or other incentive to business prospects.
The board went into executive session at 7:05pm
Reconvene to Open Session
The Board reconvened into regular session at 7:37pm
4.3 Action resulting from closed executive session pursuant to Section 551.072 of the Texas Government
Code to deliberate the purchase, exchange, lease or value of real property located in The Colony for
economic development purposes.
No Action
4.4 Action resulting from closed executive session pursuant to Section 551.087 of the Texas Government
Code to deliberate commercial or financial information the board has received from business prospects,
and/or to deliberate the offer of a financial or other incentive to business prospects.
A motion was made by Leonard Powell for the Board to approve an incentive for Reserve Auto in the
amount of $750,000 for site work and infrastructure as discussed in executive session. Second by Kevin
Braby; motion passed with all ayes.
A motion was made by Leonard Powell for the Board to approve an incentive for Primal Steak House
in the amount of $750,000 for site work and infrastructure as discussed in executive session. Second by
Kevin Braby; motion passed with all ayes.
A motion was made by Leonard Powell for the board to approve an incentive for Great Dane
Enterprises in the amount of $200,000 for site work and infrastructure as discussed in executive
session. Second by Dave Hicinbothem; motion passed with all ayes.
A motion was made by Leonard Powell for the board to approve a Chapter 380 Agreement and
Performance Agreement by and between the City of The Colony, Texas; The Colony Economic
Development Corporation; The Colony Community Development Corporation; and Urban Legacies
Limited, or URWLD related entity, on the terms as discussed in executive session, and subject to
revisions deemed necessary by the City Manager, City staff and/or City Attorney's office. Second by
Brian Buffington; motion passed with all ayes.
ADJOURNMENT
President Tom Tvardzik adjourned the meeting at 7:45pm.
Diane emmons Tom T rdzik
Recording Secretary President