HomeMy WebLinkAbout09/11/00 EDC MINUTES
THE COLONY ECONOMIC DEVELOPMENT CORPORATION
SPECIAL BOARD MEETING
CITY HALL CONFERENCE ROOM
SEPTEMBER 11, 2000
Present: President John Gordon
Vice President Steven Sims
Treasurer Al Garcia
Member Bob Norris
Secretary Delaina Hammock
Ex-officio Member Sue Walden
Staff.' Tom Terrall
Cindi Lane
Item 1.1. EXECUTIVE SESSION AS AUTHORIZED BY SECTION 551.086 OF
THE GOVERNMENT CODE: To deliberate the offer of a financial or other
incentive to a business prospect: The special session was called to order by
President John Gordon at 6:15 p.m. The board went into executive session.
Item 2.2. Consideration of any appropriate action to be taken as a result of the
executive session: The executive session ended at 6:30 p.m.
Al Garcia made a motion to recommend to the City Council the proposed
incentive plan for Pizza Inn and Billingsley Company that was recommended to
the 4A Board by the negotiation team as discussed in the executive session which
includes a 70% tax abatement to Pizza Inn for five years and a total amount of
$250,000 to be paid to Billingsley Company for assistance with infrastructure
costs. Delaina Hammock seconded the motion and the motion carried with all
ayes.
Cindi President Gordon adjourned the meeting at 6:31~'~~ Lane p.m.~/,~~_ ~ ~esi~
Executive Secretary