HomeMy WebLinkAbout11/08/00 EDC MINUTES
THE COLONY ECONOMIC DEVELOPMENT CORPORATION
REGULAR BOARD MEETING
CITY HALL COUNCIL CHAMBERS
NOVEMBER 8, 2000
Present: President John Gordon
Vice President Steven Sims
Secretary Delaina Hammock
Member Bob Norris (arrived at 7:25 p.m.)
Ex-officio Member Sue Walden
Absent: Treasurer A1 Garcia
Guests: Mr. Steve Krazer, Vice President Zachry Associates, Inc.
Tom Terrall
Cindi Lane
Item 1.1. Call to Order: President Gordon called the meeting to order at 7:05 p.m. and
led in the Pledge of Allegiance.
2.0 CONSENT AGENDA
Item 2.1. Reports: Mr. Terrall reviewed the check registers and cash flow projection. He
explained how the cash flow projection chart was reorganized so that numbers for
money allotted to various projects could be plugged in and would show how
much money would be available at all times. Mr. Ten-all also pointed out that
there was an 18.32% increase of sales tax revenue for the month of October from
last year. Also included in the reports was the October report to the City Manager.
3.0 EX-OFFICIO MEMBER, PUBLIC COMMENTS
Item 3.1. Report of 4B meetings: Sue Walden brought the 4A board members up-to-
date with the 4B Board's last meeting. She discussed the Ridgepointe
groundbreaking ceremony that took place on Sunday, November 5th. The 4B
Board is discussing possible names for the multi-sports complex. Blue Sky Soccer
has three fields completed. The City Council has asked for a timeline on current
and future park projects.
Item 2.2. Approval of the minutes of the board meeting held October 11, 2000:
Steven Sims made a motion to approve the minutes of the board meeting held
October 11, 2000. Delaina Hammock seconded the motion and the motion carried
with all ayes.
Item 3.2. Public Input: There was no public input.
4.0 REGULAR AGENDA
Item 4.1. Discussion regarding the Economic Development Forum at The Tribute on
October 25, 2000: There was discussion of how successful the Forum was, how
many people attended and of those, how many were brokers or developers. Mr.
Ten-all reported that there were approximately 45 attendees of between 90 and
100 who were invited, and of those there were at least 10 brokers and developers.
The amount of money spent for the forum was within $65.00 of the budgeted
amount. Mr. Ten-all complimented Ms. Lane for doing an outstanding job at
putting the forum together. President Gordon thanked Mr. Terrall and Ms. Lane
for their work on this project.
Item 4.2 Discussion and appropriate action regarding Zachry Associates advertising
and marketing plan proposal for fiscal year 2000-2001: Steve Krazer, Vice
President of Zaehry Associates, gave the board a review of the projects
accomplished during this past fiscal year. Goals for the upcoming year are to
build on what has already begun, and to develop The Colony image. Additional
goals are to increase hits on the website and to drive more inquiries to the EDC
office rather than to individual brokers. Mr. Krazer presented a proposal to the
board for this next fiscal year consisting of the following:
1. Website additions/revisions (enhancements) totaling $4,000
2. Website hosting/updates at a monthly fee of $650 totaling $7,800
3. Six ads in the Dallas Business Journal, one quarter page each, totaling $9,300
4. Ad development totaling $4,500
5. Four staggered post card mailings totaling $8,800
6. Post card list development to increase the number of contacts on the mailing
list from 850 to 1,875 contacts for a total of $1,200
7. Two advertisements in a nationally publicized magazine targeted toward
consultants specializing in business relocation totaling $8,000
8. A contingency budget for the design or instruction to take care of something
that might come up within the year that isn't already in the budget totaling
$1,500
The entire proposal came to a total of $45,100. The calendar is an estimate of
when things would be done. The $650 website hosting/update is an estimate
depending on the amount of time spent on the website. There was discussion of
EDC Minutes November 8, 2000, Page 2
the description of the postcards. There was discussion of ideas, opinions and
many questions about the national publication. The board would like more
information on which cities publish in the magazine and statistics showing the
target subscribers and number of subscribers. Ms. Hammock made a motion to
table this agenda item until more information could be gathered and reviewed by
the board. Steven Sims seconded the motion and this agenda item was tabled.
Item 4.3. l)iscussion and appropriate action regarding color selection for tradeshow
display booth: Mr. Terrall passed out some samples of colors to choose from for
the display booth he is going to order. There was discussion of which colors
would best compliment the colors in the logo. Mr. Norris made a motion to
approve the green dominant with the blue stripe at a cost of $3,710.00 for the
display booth. Mr. Sims seconded the motion and the motion carried with all ayes.
Item 4.4. EXECUTIVE SESSION AS AUTIlORIZEI) BY SECTION 551.086 OF
TilE GOVERNMENT COl)E:
A. l)iscnssion business prospects: The board went into executive session at 8:04
p.m.
Item 4.7. Action to be taken as a result of executive session: The board reconvened at
8:45 p.m. Ms. Hammock made a motion to offer a grant to The Colony
Gymnastics and Dance Academy based on ad valorem taxes paid to The Colony
at a rate of 100% the first year, 80% the second year, 60% the third year, 40% the
fourth year and 20% the 5t~ year. The total for the five-year period is not to
exceed $25,000. Each payment is to be made within 30 days following receipt by
The City of The Colony of The Colony Gymnastics and Dance Academy tax
payment. Mr. Norris seconded the motion and the motion carried with all ayes.
Mr. Norris made a motion to adjourn. Ms. Hammock seconded the motion and the
motion carried with all ayes. President Gordon adjourned meeting at 8:48 p.m.
Cindi Lane Jolm~ok~n
Executive Secretary Presiderff
EDC Minutes November 8, 2000, Page 3