HomeMy WebLinkAbout06/21/00 EDC MINUTES
THE COLONY ECONOMIC DEVELOPMENT CORPORATION
REGULAR BOARD MEETING
CITY HALL COUNCIL CHAMBERS
JUNE 21, 2000
Present: President John Gordon
Vice President Steven Sims
Treasurer Al Garcia
Secretary Delaina Hammock
Member Bob Norris
Ex-officio Member Sue Walden
Staff: Tony Johnston
Cindi Lane
Item 1.1. Call to Order: President Gordon called the meeting to order at 7:00 p.m. and
led in the Pledge of Allegiance.
2.0 CONSENT AGENDA
Item 2.1. Reports: Tony Johnston discussed the check register, the cash flow projection,
the April sales tax allocation summary, the monthly l/2 cent sales tax graph, and
the status of the advertising campaign. Also discussed was the Texas Leadership
Conference that Mr. Johnston and Cindi Lane attended in May and the economic
development tools for economic development. On the city's economic condition a
small discussion also took place in light of rising interest rates.
Item 2.2. Approval of the minutes of the board meeting held May 10, 2000: A motion
was made by Steven Sims to approve the minutes for the board meeting held May
10, 2000. Delaina Hammock seconded the motion and the motion carried with all
ayes.
3.0 EX-OFFICIO MEMBER, PUBLIC COMMENTS
Item 3.1. Report of 4B meetings held during the month of March: Sue Walden
reported the recent activities of the 4B board which were: (1) deciding to turn
over the financial procedures to the city, (2) the ground-breaking of Ridgepointe
Park in July, and (3) the designing of a logo for the CDC.
Item 3.2. Public Input: There was no public input.
4.0 REGULAR AGENDA
Item 4.1. Discussion of Allies Day on May 24, 2000: There was discussion of the
success of the Allies Day golf tournament and luncheon. The board was pleased
with how everything turned out and received numerous favorable responses.
Suggestions of what might be done differently next year include having an on-
going slide show presentation, and adding wording to the invitation as to whether
the attendee would be interested in taking a bus tour of the city. Before scheduling
the day next year, staff needs to research possible conflicts that could interfere
with the turnout.
Item 4.2 Discussion and appropriate action regarding consideration of moving the
EDC office to another location: Ms. Lane gathered information on other
metroplex EDC's of their locations and percentage of their 4A sales tax revenue
spent on administrative expenses, and possible future sites for consideration. The
information concluded that every city that had 4A sales tax revenue operated in an
office separate from city hall and that there was a varied degree of percentage of
administrative expenses ranging from 14.91% in McKinney to 40% in Lancaster.
President Gordon stated that he does not want to exceed an amount of 25% of the
4A-tax revenue to be spent on administrative expenses. There was discussion of
using an outside conference area for meetings with prospects until such time when
the EDC can afford to relocate. There was an agreement among the board
members not to make a decision until the director is on board and has time to
evaluate the situation.
Item 4.3. EXECUTIVE SESSION AS AUTHORIZED BY SECTION 551.074 OF TIlE COVERNMENT CODE RELATING TO PERSONNEL TO WIT:
A. Status report regarding hiring process of director: The board was called into executive session by President Gordon at 7:50 p.m.
Item 4.4. Action to be taken as a result of the executive session: President Gordon
reconvened the meeting at 8:12 p.m. No action was taken as a result of executive
session.
There being no other business, Bob Norris made a motion to adjourn. Mr. Sims seconded the motion and the motion carried with all ayes. President Gordo__n ~n~d the
meeting at 8:13 p.m. ~ ~
Cindi Lane ~
Executive Secretary ~ ......
EDC Minutes June 21, 2000, Page 2 of 2