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HomeMy WebLinkAbout03/14/07 EDC MINUTES THE COLONY ECONOMIC DEVELOPMENT CORPORATION REGULAR BOARD MEETING CITY HALL CONFERENCE ROOM MARCH 14,2007 The Regular Session of The Colony Economic Development Corporation of the City of The Colony, Texas, was called to order at 7:33 p.m. on the 14th day of March 2007, at the City Hall conference room with the following roll call: Board Members: Bob Norris, President Al Garcia, Member Kevin Greene, Treasurer Rick Casterline. Vice President Paul Koenig, Secretary Present Absent (Business) Absent (Business) Present Present Staff Members Present: Tom Terral!. Director of Economic Development Cindi Lane, Economic Development Specialist Tony Johnston. Assistant City Manager Gordon Scruggs, PE. City Engineer Council Liaison Perrv Schran . b Absent (Business) 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. 4.0 REGULAR AGENDA Item 4.1. Site visit to Village Corners Two located west of the Wal-Mart parking lot at 4679 S.H. 121, and Golden Corral located at 4675 S.H. 121 north of strip center and restaurant to discuss the possibility of a future roadway connccting Memorial Dr. to the Village Corners Two/Golden Corral location: Mr. Terrall told the board that in order to get a better understanding of exactly where to connect the road from Memorial Dr. to the north side of the Golden Corral he wanted to take them to the location. All board members present along with Mr. 'rerrall, Ms. Lane, Mr. Scruggs and Mr. Johnston drove to the location of the proposed road. There was discussion of where to put the road and how it might affect Memorial Dr. once the third lane is built. The objective is to have a shorter road and have it be compatible with the city infrastructure. Item 4.2. Update and discussion regarding the Village Corners Two roadway: Mr. Johnston discussed the approximate costs including a 20% contingency. He explained that the roadway could cost approximately $312,000 including contingency and that the contractor would not be aware of the contingency dollars. If the job is done in conjunction with the widening of Memorial Rd. the cost would be better. Mr. Johnston referred to the memo he wrote that is in the board packet explaining the procedures for the building of the roadway. The city council would also have to approve the building and funding of this roadway. He explained the invoicing procedure. He also said that if the board prefers, the City could pay for the periodic invoices and after the road was approved by the City and all parties required, the 4A could pay for the entire balance with one payment back to the City. The board seemed to like that idea the best since that is normally how they pay for projects. The City could go ahead with the design and bring the agreement to the board for approval in their April meeting. Engineering needs to review the project and hire surveyors while the EDC gets the agreement written. The board was concerned about the condition of the road that the new road will attach to. There was discussion of how far south to build the road and how it would stand up to semi trucks driving on it to go north to Memorial and to a future commercial development. If the roadway goes to S.H. 121 there are other propcrty owners involved. This needs to be researched to see what other possible entities might have to be part of the process of getting the roadway built. There would also be additional costs involved if the existing asphalt road was rebuilt all the way to S.H. 121. The older asphalt part of the parking lot would need to be excavated and concreted. Item 4.3. Update and discussion regarding the progress of construction of the Wal- Mart driveway between Memorial Dr. and the north end of the Wal-Mart parking lot: Mr. Terrall said that he noticed that construction had begun on this driveway when he and the board were out looking at the general area. Mr. Johnston said they had to move the driveway 20 feet away from the electricity pole but it was not a problem. He said the driveway should be completed by the cnd of April. Item 4.4. Discussion and appropriate action regarding the approval of and economic development funding agreement for the Wal-Mart driveway and authorization of the 4A board president to execute the agreement: Mr. Terrall said that the city attorney wrote the agreement and he and Mr. Johnston recommend approval from the board. Mr. Casterline made a motion to accept the agreement and to authorize the 4A board president to sign it. The motion was seconded by Mr. Koenig and all members voted in favor. The motion passed. Item 4.5. Update and discussion of the water and sewer infrastructure in Austin Ranch: Mr. Terrall reported that at the last meeting the board had requested for the city engineer to give some details about the infrastructure improvements in Austin Ranch. Mr. Scruggs, City Engineer. gave a presentation to show the board what "vas existing for water and wastewater and what improvements were needed EDC Minutes March 14.2007, Page 2 to encourage commercial development in Austin Ranch. Mr. Scruggs explained how the infrastructure would tie in with Carrollton. His summary was as follows: 1) Acquire easements from Billingsley Company, 2) Construct water line from the north limits of Austin Ranch at PIano Parkway to the railroad on Josey Lane south of FM 544 in Carrollton, 3) Construct wastewater line from Piano Parkway near Edward Don south to Windhaven Parkway, 4) Bid as one project and construct in 2008-2009, 5) Easement acquisition cost of $1.6 million, and 6) Projected construction cost of $4.8 million. Mr. Scruggs said that the project costs would go up as development occurs. Mr. Terrall said he would like to discuss the numbers with the 4A treasurer. Kevin Greene. Mr. Casterline asked if The Colony EDC had a schedule of current obligations so the board could look at everything and all the dollars that they have committed to. Mr. Terrall said he would bring it to the next meeting. Mr. Terrall said he also wanted to review this project with the attorney to be sure that it is legal for 4A funding to pay for this project. Mr. Scruggs said the project would take one to two years to complete once it was startcd. Item 4.6. Discussion of using 4A funds for building drainage culverts south of Memorial Dr. at Worley Dr.: Mr. Scruggs explained that when the expansion of Memorial Dr. from two lanes to four lanes between Worley and S. Colony it would affect two commercial properties, the Weitzman property and the Netzer property. Between these two properties is a culvert that if not extended. would prevent access to these properties from Memorial Dr. The proposal from the City is to extend a culvert south with a new headwall. This project could be bid and constructed the same time as the Memorial construction. The construction contract would be awarded in July or August and the projected construction cost would be approximately $163,000. Having the culvert extended would make the properties more accessible. Mr. Johnston said he was currently trying to acquire the right-of-way with Shula Netzer for the expansion of Memorial. Mr. Casterline said he doesn't see the relevance of 4A funding the culvert extension unless there is a project the developer is bringing to that site. The board felt like this could be put off for awhile while 4A works on other projects. They said that if the return of investment can be justified than they would be willing to step up to the plate. 2.0. CONSENT AGENDA Item 2.1. Reports: a. Cash flow projection b. Monthly ~ Cent Sales Tax graph c. Tax Allocation Summary for February d. Summary of current activity regarding development e. Marketing update f. Report ofTEDC quarterly meeting Feb. 14-16 g. NAIOP Breakfast April 5 h. Report of Dallas Business Journal Best Real Estate Deals of the Year Awards in February 12,2007 edition EDC Minutes March 14.2007, Page 3 I. Treasurer report (a) (b) (c) Mr. Terrall said that in the interest of time he would answer any questions but did not discuss specifically these items. There were no questions. (d) Mr. Terrall had no information to report since the previous month. (e) Ms. Lane gave the website statistics and update. She gave the status of the new tradeshow booth and passed out the new pocket folders and brochures for the board to see. (t) Mr. Terrall reported that there was nothing so far on the horizon on the legislative agenda that would affect economic development in The Colony. (g) Mr. Terrall mentioned that the next NAIOP meeting that The Colony EDC is sponsoring is April 5th and asked if any board member would like to attend other than President Norris who already said he would attend. Mr. Casterline said he could be available and would like to attend. (i) Kevin Greene was out of town on business and not able to give the treasurer report. 2.2. Approval of the minutes of the regular board meeting February 7, 2007: President Norris asked if there were any corrections, changes or additions that anyonc would like to make and there were none. Rick Casterline made a motion to approve the minutes as written. Paul Koenig seconded and the motion carried with all members voting in favor. 3.0 PUBLIC COMMENTS 3.1. Public Input: There was no public input. Prcsident Norris adjourned the 4A board at 10: 19 p.m. ~' dvJ,~{ . ... Cindi Lane Economic Development Specialist ~~~/~r Robert E. Norris President EDC Minutes March 14.2007. Page 4