HomeMy WebLinkAbout03/09/05 EDC
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MINUTES
THE COLONY ECONOMIC DEVELOPMENT CORPORATION
REGULAR BOARD MEETING
CITY HALL CONFERENCE ROOM
MARCH 9, 2005
The Regular Session of The Colony Economic Development Corporation of the City of
The Colony, Texas, was called to order at 7:05 p.m. on the 9th day of March 2005, at the
City Hall conference room with the following roll call:
Board Members:
Bob Norris, President
Al Garcia, Vice President
Kevin Greene, Treasurer
Bo Trosper, Member
Perry Schrag, Council Liaison
Present
Present
Absent (business)
Present
Absent (vacation)
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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
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Item 2.1. Reports:
a. Cash flow projection
b. Monthly Yi Cent Sales Tax graph
c. Tax Allocation Summary for February
d. Summary of current activity regarding development
e. Marketing update
f. Weitzman/Cencor update
g. Report on Winter TEDC conference
h. Report on TEDC Board Sub-Committee Action
i. Update on RFP #54-05-03-Marketing Company Presentations
j. Report on DFW Marketing Team Steering Committee
(a) Tom Terrall reported that February sales tax revenue was practically dead
even with the forecast. (b) The graph reflects the percent of increase from 2003 to
2005. (c) The allocation summary is there for the board members to compare our
tax revenues with those of other cities. (d) Mr. Terrall said there was nothing new
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4.0 REGULAR AGENDA
Item 4.1. Discussion and appropriate action concerning election of officers: (a)
president, (b) vice president, (c) secretary, (d) treasurer: President Norris said
that Rick White has resigned from the board and Kevin Greene told him earlier
that he did not want to serve as treasurer this year but will help the new treasurer
when one is elected. President Norris opened the floor for nominations for
president. Mr. Trosper nominated Bob Norris. There was discussion about how to
handle the elections since the board is now a member short. There was discussion
of leaving the officers the same as last year with the exception of the secretary
and treasurer officers. Mr. Terrall looked in the bylaws to see if there was a
deadline to elect officers. There was discussion of asking Mr. Greene to remain
the treasurer until council appoints another board member. Mr. Trosper agreed to
serve as secretary. By acclimation all officers remained the same and Mr. Garcia
nominated Mr. Trosper for secretary. Mr. Trosper accepted and was named
secretary by acclimation.
Item 4.2. Discussion and appropriate action regarding appointing up to two 4A
board members to attend the ICSC tradeshow May 22-24, 2005: Mr. Terrall
said that council has selected Allen Harris, Perry Schrag, and Joel Marks (if re-
elected) to attend the tradeshow this year. They are experienced and will do an
excellent job. Mr. Trosper said that he would like to go and would be willing to
do so. Mr. Terrall briefly explained the work involved and that there would be a
meeting with all The Colony representatives shortly before leaving for the
tradeshow.
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.
Preside~t Norris" adJ.'oumed the 4A board at 7:51 p.~m. /,/ _
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Cindi Lane. Robert E. Norris
Economic Development Specialist President
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EDC Minutes March 9,2005, Page 3