HomeMy WebLinkAbout11/13/02 EDC MINUTES
THE COLONY ECONOMIC DEVELOPMENT CORPORATION
REGULAR BOARD MEETING
CITY HALL COUNCIL CHAMBERS
NOVEMBER 13, 2002
The Regular Session of The Colony Economic Development Corporation of the City of
The Colony, Texas, was called to order at 7:20 p.m. on the 13t~ day of November 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 Absent (Business)
And with three 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 October
c. Monthly ½ Cent Sales Tax graph
d. Monthly report from October to City Manager
e. Shapiro marketing update
f. Summary of current activity regarding development
g. International Council of Shopping Center Idea Exchange November
6-8, 2002 in San Antonio
h. Report on discussion with city manager regarding The Colony Close
Up magazine ad placement
Tom Terrall reported that the October sales tax was slightly under projection but
still was 33% over the base year of 2000 according to the monthly ½ cent sales
tax graph. The November revenue should spike up do to back to school spending.
He would like to add a line on the cash flow projection report to show month by
month the net increase or decrease in projected versus actual revenue. Mr. Terrall
spoke of some possible future activity of development on the 12 acre tract by the
high school and mentioned other possible activity. Approximately 15 leads were
obtained at the International Council of Shopping Center Idea Exchange and those
leads will be followed up on beginning next week after the Fall Event is over. Mr.
Terrall spoke with the city manager regarding the placement of The Colony Close
Up magazine ad placement. According to Mr. Terrall, the city manager said that
the city had placed an ad in some of the past issues but has not budgeted any
funds for future ads.
Item 2.2. Approval of the minutes of the board meeting held October 30,
2002: Mr. Norris made a motion to accept the minutes as written. Tia Hamlin
seconded. The motion passed with all members voting in favor.
3.0 PUBLIC COMMENTS
3.1. Public Input: There was no public input.
4.0REGULAR AGENDA
Item 4.1. Discussion of Fall Event being held November 14, 2002 to promote The
Colony to DFW brokers and developers: Ms. Lane gave the board an update of
the planning and final preparations that had been made for the next day's Fall
Event. She brought a tour booklet and a "kooler" goodie bag for the board
members to examine. President Garcia thanked Ms. Lane and Mr. Terrall for all
their work preparing for this event and said that he was looking forward to being
there to talk with the attendees.
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:
There was no executive session.
Item 4.5. Consideration of appropriate action to be taken as a result of executive
session: No action was taken.
President Garcia adjourned the meeting at 7:30 p.m.
Cindi Lane
Economic Development Specialist
EDC Minutes November 13, 2002, Page 2