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HomeMy WebLinkAbout01/12/05 EDC I MINUTES THE COLONY ECONOMIC DEVELOPMENT CORPORATION REGULAR BOARD MEETING CITY HALL CONFERENCE ROOM JANUARY 12, 2005 The Regular Session of The Colony Economic Development Corporation of the City of The Colony, Texas, was called to order at 7:06 p.m. on the lih day of January 2005, at the City Hall conference room with the following roll call: Board Members: Bob Norris, President Absent (business) Al Garcia, Vice President Present Kevin Greene, Treasurer Present Rick White, Secretary Present Bo Trosper, Member Present Perry Schrag, Council Liaison Absent (business) Staff Members Present: I Tom Terrall, Director of Economic Development Cindi Lane, Economic Development Specialist And with four voting members present, a quorum was established and the following items were addressed: Item 1.1. Pledge of Allegiance: Vice President Al Garcia led in the Pledge of Allegiance. 2.0. CONSENT AGENDA Item 2.1. Reports: a. Cash flow projection b. Monthly Y2 Cent Sales Tax graph c. Tax Allocation Summary for December d. Summary of current activity regarding development e. Marketing update f. Weitzman/Cencor update g. Quarterly city manager report (a) Tom Terrall reported that the December sales were ahead of projections. (b) I The December revenue was ahead of 2002 and overall the year looks good. Mr. Terrall said that the chart could serve well as a marketing piece. (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 developments discussed in last month's meeting were moving along but there was nothing additional to report on at this time. (e) Cindi Lane reported that four ads will be placed in the Dallas Business Journal for the remainder of this fiscal year. The first will be placed in the January 28th Commercial Real Estate Quarterly. A total of three ads will be placed in Outlook Magazine, two of which will be half page ads and one editorial. Photos of Edward Don and Steven L. Thomas Agency buildings under construction are now on the website. The website had more visits in December than the past two months. The website ad for NTCAR has been completed and has been submitted to their site. (f) Mr. Terrall said that although there is nothing new happening with the Weitzman site, he recently spoke with Herb Weitzman and it seems that Mr. Weitzman is becoming again more involved with the development of this site. (g) Mr. Terrall said that the city manager report is self- explanatory and most of it has previously been discussed with the board in the past few meetings. Item 2.2. Approval of the minutes of the regular board meeting held December 8, 2004: Vice President Garcia asked if there were any corrections, changes or additions that anyone would like to make and there were none. Kevin Greene made a motion to approve the minutes as written. The motion was seconded by ~~~n.·__ Rick White and all members voted in favor. 3.0 PUBLIC COMMENTS 3.1. Public Input: There was no public input. 4.0 REGULAR AGENDA Item 4.1. Discussion and appropriate action concerning election of officers: (a) president, (b) vice president, (c) secretary, (d) treasurer: Vice President Garcia informed the board that President Bob Norris was out of town tonight on business and it would be best to table this item and place it on the February agenda. Item 4.2. Discussion and appropriate action regarding 4A board member attending the ICSC tradeshow May 22-24, 2005: Mr. Terrall gave a brief recap of last year's trade show and gave a description of a typical day at the trade show and responsibilities of those who attend. Vice President Garcia suggested that the item be tabled until next month to give the board members time to look at their calendars and decide if volunteering for this trip would be possible. Bo Trosper made a motion to approve two 4A board members to attend the ICSC tradeshow. ---- Mr. Greene seconded the motion and the motion passed with all members voting aye. EDC Minutes January 12,2005, Page 2 ---.. I 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. 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. Vice President Garcia adjourned the 4A board at 7:23p.m. ~\~ ?~~---~ Cindi Lane AlIa ,- Economic Development Specialist Vice President I I EDC Minutes January 12, 2005, Page 3