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HomeMy WebLinkAbout10/30/02 EDC MINUTES THE COLONY ECONOMIC DEVELOPMENT CORPORATION REGULAR BOARD MEETING CITY HALL COUNCIL CHAMBERS OCTOBER 30, 2002 The Regular Session of The Colony Economic Development Corporation of the City of The Colony, Texas, was called to order at 6:30 p.m. on the 30th day of October 2002, at City Hall with the following roll call: A1 Garcia, President Present Bob Norris Present Tia Hamlin Present Norman Lang Absent (Business) Kevin Greene Present And with four voting members present, a quorum was established and the following items were addressed: Item 1.1. Pledge of Allegiance: A1 Garcia led in the Pledge of Allegiance. 2.0. CONSENT AGENDA Item 2.1. Reports: a. Cash flow projection b. Tax Allocation Summary for August and September c. Monthly ½ Cent Sales Tax graph d. Monthly report from August and September to City Manager e. Shapiro marketing update f. NTCAR tradeshow held August 27, 2002 g. Summary of current activity regarding development h. 4A Work Session with Council on August 26 i. Report of TEDC annual conference j. International Council of Shopping Center Idea Exchange November 6-8, 2002 in San Antonio Tom Terrall informed the board that the cash flow projection finished the fiscal year approximately $47,000 ahead of projections. The sales tax graph continues to show a substantial increase over the base year of 2000. Mr. Terrall pointed out a few items from his monthly reports. There are several RFI's that are outstanding with the Dallas Chamber. Mr. Terrall and Cindi Lane had a meeting with Linda Burns in October at the Dallas Chamber to find out how our RFI's compare with other cities. Ms. Burns said that overall, packets from The Colony are well above average and that the presentation The Colony gave in person was in her opinion the best one. Mr. Terrall wants to work on making more information available in an email format. Mr. Terrall is in the process of working on a project for office space to be available for home-based tenants in the local area looking to expand but to stay within the city. The post card campaign is concluded and seemed to go very well. The NTCAR tradeshow was successful; we came away with several leads. Current development activity is a strip center being discussed with planning and zoning. The TEDC annual conference went well. There was discussion of the position statement with retail included in the statement being presented at the next legislative session. Mr. Terrall informed the board that he would attend the ICSC conference in San Antonio next Thursday and Friday, November 7 and 8. He has set up some appointments with some of the same people who attended the annual ICSC conference in Las Vegas last May. Item 2.2. Approval of the minutes of the board meeting held August 14~ 2002 and the work session held August 26, 2002: Mr. Norris made a motion to accept the minutes from both of these meetings as written. Kevin Greene seconded. The motion passed with all members voting in favor. 3.0 PUBLIC COMMENTS 3.1. Public Input: Sue Walden, 5081 Avery Lane, asked the EDC to review the incentive policy and possibly write a version for local businesses that wouldn't meet the current criteria for assistance. Her suggestion was that the EDC make a grant to a small local business of up to 100,000 that may hire an additional two people. She also requested that the EDC incentive policy state a loan rate for low interest loans. 4.0 REGULAR AGENDA Item 4.1. Discussion and appropriate action regarding leasing verses buying a laser printer:. Mr. Norris had asked staff to research this option at the August board meeting. There was brief discussion and then Mr. Greene made a motion to purchase the HP 4100N Laser Printer. Mr. Norris seconded and the motion passed with all members voting in favor. Item 4.2. Discussion of Fall Event to promote The Colony to DFW brokers and developers: Ms. Lane gave the board a assessment of the fall event including the invitations, schedule, prizes, bus tour details, tour booklet details, putting contest, and final networking and presentation at The Tribute. The event will begin at 2:30 p.m. on Thursday, November 14. The board seemed pleased with the scope of the event and is looking forward to it. Some of the board members said that they would be available to help out on that day and with some of the prepping of materials. EDC Minutes October 30, 2002, Page 3 Item 4.3. Discussion and appropriate action regarding placing an ad in The Colony Close-Up Magazine: Mr. Terrall informed the board that he was contacted by Susan Chiniewicz, editor of The Colony Close Up magazine, to place an ad for economic development. The board discussed this option and came to the conclusion that since the target of the magazine is focused toward residential and local residents, the ad would not further the EDC's goals of attracting companies to The Colony. A suggestion was made to Mr. Terrall to discuss with the city manager and look into collectively placing an ad. Mr. Terrall will report back to the board after his discussion. President Garcia entertained a motion to place an ad with The Colony Close Up magazine but no motion was made. Item 4.4. Discussion and appropriate action regarding Mr. Terrall and Ms. Lane attending the International Council of Shopping Centers annual conference and tradeshow May 18-21, 2003: Mr. Terrall explained to the board that last year's conference was successful and he learned more about how to meet with and schedule appointments with exhibitors in advance. Mr. Terrall feels that he and Ms. Lane are better prepared to go next year because they have gained experience from last year. There was discussion about whether or not to take the booth and be an exhibitor. Mr. Ten'all said that he evaluated the booth situation last year and felt that the way in which the municipalities are set up at the show, there would be less traffic and fewer opportunities to meet with potential clients than being able to go and seek out the people he wants to talk to. President Garcia made a suggestion for Ms. Lane to look at travel websites to see which fares and hotels would be the best deal. Mr. Norris made a motion for Mr. Terrall and Ms. Lane to attend the ICSC conference. Tia Hamlin seconded and the motion carried with all members voting in favor. Item 4.5. 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 t'mancial or other incentive to a business prospect: The board went into executive session at 7:25 p.m. Item 4.5. Consideration of appropriate action to be taken as a result of executive session: The board reconvened at 8:10 p.m. No action was taken. President Garcia adjourned the meeting at 8:10 p.m. Cindi Lane v . /~'/~hr~a Economic Development Specialist ~reside EDC Minutes October 30, 2002, Page 3