HomeMy WebLinkAbout03/28/01 EDC MINUTES
THE COLONY ECONOMIC DEVELOPMENT CORPORATION
REGULAR BOARD MEETING
CITY HALL COUNCIL CHAMBERS
MARCH 28, 2001
Present: President A1 Garcia
Vice President Steven Sims
Treasurer Delaina Hammock
Secretary Bob Norris
Ex-officio Member Sue Walden
Staff.' Tom Terrall
Cindi Lane
Item 1.1. Call to Order: Being that a quorum was present, President Garcia 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: Tom Terrall reviewed the check register and cash flow projection, tax
allocation summary from March, monthly ½ cent sales tax graph and City
Manager report fi.om February. He discussed the Dallas Business Journal
newspaper advertisement as an example of what has been published to target
brokers and developers. Mr. Terrall discussed the new traffic counts, aerial and
examples of site photos that he and Cindi are working on to give out to prospects.
Delaina Hammock requested that in the future she would like to look at the tax
allocation sununary report for the cities in Collin County. President Garcia
suggested having a link fi.om our website to a lakes park website to increase
awareness of Hidden Cove. There was a discussion of the new traffic count
comparison report.
Item 2.2. Approval of the minutes of the board meeting held February 8, 2001 and
Special Meeting held February 21, 2001: Bob Norris made a motion to approve
the minutes for both meetings held in February. Ms. Hammock seconded the
motion and the motion carried will all members voting aye.
Item 2.3. Discussion and appropriate action regarding changing the regular
monthly meeting day from the third to the fourth Wednesday: The board was
in agreement to have the regular monthly meetings on the fourth Wednesday of
each month. Mr. Terrall informed the board that in April, he will be out of town
on the fourth Wednesday, April 25, at a TEDC conference. The board decided to
have the meeting on Wednesday, April 11,2001.
3.0 EX-OFFICIO MEMBER, PUBLIC COMMENTS
Item 3.1. Report of 4B meetings: Sue Walden reported that the 4B board had a meeting
March 15, 2001. The board approved the payment of $250,000 for Memorial
Drive the first year and $75,000 the second and third years totaling $400,000. The
certificates of obligation bond is on track. The amount will be $7,000,000 and a
committee has been formed consisting of Pam Nelson, Sam Fitzgerald, Dennis
Sims, a 4B board member and a parks & recreation board member. This
committee will meet and plan the design of the complex and will meet with
representatives of each sport as it-comes up. There will be a public hearing on
April 19, 2001 at 6:30 p.m. on all projects. Ridgepointe Park is progressing well.
Most of the equipment is set up. The board--has looked into having a skate park
and has looked at other skate parks in the metroplex. The Colony Chamber of
Commerce sponsored a Visitors and Convention Bureau work shop at City Hall
and had several people from The Colony and neighboring cities in attendance.
Item 3.2. Public Input: There was no public input.
4.0 REGULAR AGENDA
Item 4.1. Update regarding NTCAR golf tournament: Mr. Terrall reported to the
board the status of the planning stage for the upcoming NTCAR golf tournament.
Flyers were passed out showing some methods that NTCAR is using to get
registration for the golf tournament and how they are getting sponsors. Mr. Terrall
informed the board that we have received permission from the lunch box sponsor,
H. Q. Global Workplaces, to insert an elevator card containing economic facts
about The Colony into the boxed lunches. These elevator cards can also be used at
tradeshows and conferences. Mr. Terrall explained how the bus tour would work
to the group. He also encouraged all 4A Board members to participate in the
NTCAR golf tournament by mingling and talking to the guests. President Garcia
told the board that he will bring up to council at the next council meeting to invite
them to be present at the tournament.
Item 4.2 Discussion and appropriate action regarding scheduling future work
sessions to address bylaws, strategic plan and economic incentive
application: Mr. Terrall informed the board that he would like to schedule a work
session, or sessions to address above topics. He will send information to the board
in advance so there will be less to cover during the work session. President Garcia
said that he would be in favor of a work session based on criteria for what can or
cannot be addressed in the offering and granting of incentives for businesses. He
would like for research to be done on what other cities are offering and would like
EDC Minutes March 28, 2001, Page 2
to adopt a standard to feel more comfortable with offering incentives to
businesses requesting assistance in The Colony.
Item 4.3. EXECUTIVE SESSION as authorized by section 550.086 and section
551.074 of the local government code regarding business prospect and
personnel, to-wit:
A. Discussion business prospect(s)
B. Executive Secretary:
The board went into executive session at 7:40 p.m.
Item 4.4. Consideration of appropriate action to be taken as a result of executive
session: The board reconvened at 8:20 p.m. No action was taken.
President Garcia adjourned the meeting at 8:20 p.m.
Cindi Lane
Administrative Assistant l~sident
EDC Minutes March 28, 2001, Page 3