HomeMy WebLinkAbout11/14/01 EDC MINUTES
THE COLONY ECONOMIC DEVELOPMENT CORPORATION
REGULAR BOARD MEETING
CITY HALL COUNCIL CHAMBERS
NOVEMBER 14, 2001
The Regular Session of' The Colony Economic Development Corporation of'the City of'
The Colony, Texas, was called to order at 7:05 p.m. on the 14th day of November 2001, at
City Hall with the following roll call:
Al Garcia, President Present
Steven Sims, Vice President Present
Delaina Hammock, Treasurer Absent
Bob Norris, Secretary Present
Sue Walden, Ex-officio Member Present
And with three voting members present, a quorum was established and the following
items were addressed:
Item 1.1. Pledge of Allegiance: President Al Garcia led in the Pledge of Allegiance.
2.0. CONSENT AGENDA
Item 2.1. Reports:
a. Cash flow projection
b. Tax Allocation Summary for October
c. Monthly ½ Cent Sales Tax graph
d. Monthly report from September to City Manager
e. Progress report regarding Shapiro and Company
Tom Terrall pointed out that the sales tax for November 2001 increased more than
50% over the base year of 1999 and that this was the highest revenue month ever.
He updated the board on the status of the new advertising agency including taking
them on a tour of The Colony and properties, strategy and explaining that the next
step involved moving forward with the new brochure, letterhead and designing of
ads for the Dallas Business Journal. Mr. Terrall asked the board if they had any
questions on the consent agenda and there were none.
Item 2.2. Approval of the minutes of the board meeting held October 24, 2001 and
the work session held October 27, 2001: Bob Norris made a motion to approve
the minutes from October 24 and October 27, 2001 as written. Steven Sims
seconded the motion and the motion carded with all ayes.
3.0 EX-OFFICIO MEMBER, PUBLIC COMMENTS
3.1. Report of 4B meetings: Sue Walden informed to the board a summary of the 4B
Board meeting on October 18, 2001. The board approved an amount of $6,295.52
to pay for drainage on the 80-acre park site. The board is looking at several sites
to build a skateboard park and there will be a public meeting held on this subject
December 13. The site plan of the community complex was discussed and has
been approved by the Parks and Recreation Board and will go to the Council for
final approval. Phase One of the complex has been trimmed down to stay within
the budget.
3.2. Report of Chamber of Commerce meetings: Ms. Walden informed the board of
the Chamber meeting held October 17, 2001. The L.I.S.D. liaison reported that
The Colony High School had the highest SAT scores out of all high schools in the
district. There was a committee set up to plan the next "Casino Night." There was
a retreat on November 2, 2001. The featured speaker was the office president of
The Burleson Chamber and was a great motivational speaker. The Colony
Chamber got some good ideas for improvement and they went over some goals
and ideas for the coming year.
3.3. Public input: There was no public input.
4.0 REGULAR AGENDA
Item 4.1. Discussion and appropriate action regarding the approval of the updated
Comprehensive Policy Statement of Economic Development Incentives: Mr.
Terrall thanked the board for attending the work session on Saturday, October 27
to revise the policy statement and the application for economic incentives. He
pointed out a change that needs to be made in a footnote on the bottom of Page 5
referring to the Section. It should read, "Section F' not "Section II." He asked the
board if there were any questions and there were none. Mr. Norris made a motion
to accept the revision as noted of the Comprehensive Policy Statement. Mr. Sims
seconded the motion and all members voted in favor.
Item 4.2. Discussion and appropriate action regarding the approval of the updated
Application for Economic Development Assistance: Mr. Terrall explained that
the application in the packet was the cleaned up version of the revised document
that was discussed in the work session. The board had no questions. Mr. Norris
made a motion to accept the revised Application for Economic Development
Assistance as written. Mr. Sims seconded the motion and all the motion carried
with all members voting aye.
Item 4.3. Discussion and appropriate action regarding 2000-2001 administrative
contract with the city: Mr. Terrall informed the board that this is the same
EDC Minutes November 14, 2001, Page 2
contract that has been approved for the last few years with the exception of dates
and the amount of administrative expenses. Mr. Sims asked if the administrative
dollar amount was adjusted from last year and Mr. Ten'all said that it was and that
it reflected the dollar figure from the 2001-2002 administrative budget and the
2001-2002 cash flow projection sheet. Mr. Sims made a motion to approve the
2001-2002 administrative contract as written. Mr. Norris seconded and the motion
carried with all members voting in favor.
Item 4.4. EXECUTIVE SESSION as authorized by section 550.086 of the Local
Government Code Economic Development, to-wit:
A. To deliberate the offer of a financial or other incentive to a business
prospect.
The board went into executive session at 7:20 p.m.
Item 4.12. Consideration of appropriate action to be taken as a result of executive
session: The board reconvened at 7:40 p.m. No action was taken.
President Garcia thanked Mr. Terrall and Ms. Lane for putting together the work session
and wished everyone a safe and happy Thanksgiving. He adjourned the meeting at
7:41 p.m.
Cindi Lane
Administrative Assistant resident
EDC Minutes November 14, 2001, Page 3