HomeMy WebLinkAbout06/06/07 EDC
MINUTES
THE COLONY ECONOMIC DEVELOPMENT CORPORATION
REGULAR BOARD MEETING
CITY HALL CONFERENCE ROOM
JUNE 6, 2007
The Regular Session of The Colony Economic Development Corporation of the City of
The Colony. Texas. was called to order at 7:02 p.m. on the 6th day of June 2007. at the
City Hall conference room with the following roll call:
Board Members:
Bob Norris. President
Rick Casterline. Vice President
Kevin Greene. Treasurer
Paul Koenig. Secretary
Al Garcia. Member
Present
Present
Absent
Present
Absent. (Business)
Staff Members Present:
Tom Terral!. Director of Economic Development
Cindi Lane. Economic Development Specialist
Council Liaison:
Perry Schrag
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.
2.0. CONSENT AGENDA
Item 2.1. Reports:
a. Cash flow projection
b. Monthly 12 Cent Sales Tax graph
c. Tax Allocation Summary for May
d. Summary of current activity regarding development
e. Marketing update
f. Treasurer report
(a) Mr. Terrall said that the sales tax revenue has exceeded projections by $32,000
for the year. (b) Sales tax revenue for June has hit a new high of $149,147. (c)
The sales tax revenue is up more than 6% for the year. (d) Mr. Terrall said that.
according to the planning department. there is nothing new to report for this past
month. Express Car Wash is going before planning. there are two office buildings
under construction on Standridge. and the Evergreen Retirement Center is going
to planning and zoning this month with 145 units. Next week Value Place Hotel is
going to the planning and zoning board and to council the following month. (e)
Ms. Lane gave the website update. There was a problem with the statistics from
May 1-8 so the stats were not as accurate as usual. but she reported the problem to
the web hosting company. There was an ad run in the Dallas Business Journal.
The booth graphics are ready to be ordered and an additional banner stand might
be ordered to compliment the booth or use alone when there is not enough room
for a booth. (t) Kevin Greene was unable to come to the meeting but he emailed a
report for the packet and the finances are in excellent shape.
2.2. Approval of the minutes of the regular board meeting May 9, 2007: President
Norris asked if there were any corrections, changes or additions that anyone
would like to make. Mr. Casterline made a motion to approve the minutes as
presented. Mr. Koenig seconded and the motion carried with all members voting
in favor.
3.0 PUBLIC COMMENTS
Item 3.1 Public Input: There was no public input.
4.0 REGULAR AGENDA
Item 4.1. Report and discussion of ICSC conference and tradeshow May 19-23: Mr.
Terrall reported that 56 calls were made between the two teams. There were 15
appointments and the cold calls were worked in between the appointments. There
is now two million square feet of tradeshow floor space which made it
challenging to get from one appointment to the next if they were in different
buildings. Because of the new layout this year it took more time to organize the
visits. There were approximately 51,000 attendees and over 1.200 exhibitors at
this year's show, which is a record. Now Mr. Terrall and Ms. Lane are working
on the follow up correspondence. Many retailers open new stores according to
franchisees that represent a certain geographic area so Mr. Terrall would like to
explore to see if the EDC can get a list of franchisees. He said that he felt like this
was one of the most productive lCSC tradeshows the EDC has been to and that
the quality of the meetings was better this year.
President Norris adjourned the 4A board at 7:40 p.m.
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CindiLane ~
Economic Development Specialist
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Robert E. Norris ~
President
EDC Minutes June 6. 2007. Page 2