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HomeMy WebLinkAbout08/08/07 EDC MINUTES THE COLONY ECONOMIC DEVELOPMENT CORPORATION REGULAR BOARD MEETING CITY HALL CONFERENCE ROOM AUGUST 8, 2007 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 8th day of August 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 AI Garcia, Member Present Present Present Present Present Staff Members Present: Tom Terral\. Director of Economic Development Cindi Lane, Economic Development Specialist Council Liaison: Perry Schrag Absent (Business) And with five 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 Yz Cent Sales Tax graph c. Tax Allocation Summary for June and July d. Summary of current activity regarding development e. Marketing update f. Tradeshow booth update g. Quarterly report to city manager h. Report of Summer TEDC meeting in Amarillo i. Report of DFW Marketing Team Site Selection Luncheon j. NAIOP breakfast August 23 k. NAIOP golf tournament September 11 (a) Mr. Terrall said that the sales tax revenue has exceeded projections by $39,000 for the year. (b) Mr. Terrall used this graph for two bond presentations last week and it was nice to see continued increase in sales tax revenue. (c) The sales tax revenue continues to look good for The Colony. (d) Mr. Terrall said that, according to the planning department, there is nothing new to report, but there are a few small expansions. Texas Roadhouse has begun construction. There were some requests for information that the EDC received during the past few weeks and responded to and now waiting to hear back on. (e) Ms. Lane reported the website statistics and gave an update of the changes recently made to the website. She showed recent ads published in the Dallas Business Journal and in the NAIOP Development Magazine. (t) Mr. Terrall told the board that the tradeshow booth had been delivered and assembled in the Council Chambers for all of them to see. The group went into the Chambers to see the booth and thought it looked very good. Mr. Terrall eXplained that a table skirt has been ordered and will complete the booth. There is a separate banner stand set up to go with the booth or by itself when there is not enough room available for the lO-foot wide booth. (g) Mr. Terrall said that the quarterly report information was covered throughout the other agenda items. No one had any questions. (h) Mr. Terrall gave a summary of the legislative report that was discussed at TEDC. He said that this session remained virtually unchanged from the previous session. There was a senate bill # 1089 that was directed toward the 4A and 4B corporations being allowed to financially assist with light rail, commuter rail, or motor busses presented by Shapiro and passed which may have an effect on future spending. (i) Mr. Terrall reported that 30-35 site selectors out of about 100 invited attended the first, annual site selector luncheon. Benefits to The Colony EDC are that now there is a list of local site selectors in our database and networking with those in attendance took place. A thank you letter along with an aerial map and brochure of The Colony were mailed to all attendees. CD The Colony EDC is a sponsor of this breakfast and will have a table for eight people. There are still five spots left. The topic will be a legislative update, but speakers have not been publicized yet. (k) Mr. Terrall received an email from the NAIOP assistant. She said that the golf tournament is moving along very well. They have 126 golfers signed up already and have all but two sponsorships taken. The Colony EDC will have four golfer spots. Mr. Casterline volunteered to play. Mr. Norris said he may be able to come for dinner. 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. EDC Minutes August 8. 2007. Page 2 4.0 REGULAR AGENDA Item 4.1. Presentation by Allison Mihavics of The Colony Chamber of Commerce on sponsorship opportunities for their annual golf tournament: Ms. Mihavics from The Colony Chamber of Commerce was not present so this agenda item was pulled. Item 4.2. Discussion and appropriate action regarding sponsorship of The Colony Chamber of Commerce annual golf tournament: Mr. Terrall explained that last year The Colony EDC sponsored $750 for the tournament which included two golf spots. John Gordon came before the board and gave a presentation but because of the late notice there was not enough time to plan for the tournament. Mr. Terrall reminded the board of the commitments that have already been made to support the Chamber this year including buying magnets for "Shop The Colony:' a quarter page ad in the upcoming Chamber directory, and a quarter page ad in this year's Chamber map, altogether totaling more than $4,350 including a $750 golf sponsorship. He spoke with Councilmember Allen Harris, who played at The Chamber golf tournament on The Colony EDC's behalf last year, who said that he was not introduced to anyone like was promised in Mr. Gordon's presentation and he felt that the tournament players were not the target audience for The Colony EDC. There was discussion among the board members of wanting to support The Colony Chamber but feeling that this was not the best venue to promote economic development. Mr. Greene made a motion to authorize Tom Terrall to make a $750 donation to sponsor the golf tournament providing The Colony EDC name will be printed in their promotional materials. If it is too late for The Colony EDC name to go into the literature, than the sponsorship amount is to be $500. Mr. Garcia seconded the motion and all board members voted in favor. Item 4.3. Discussion and appropriate action regarding the approval of the 2007-2008 administrative budget: Mr. Terrall asked for any questions regarding the budget. There were none. Mr. Greene said that the budget looks reasonable and doable. Mr. Garcia made a motion to approve the 2007-2008 administrative budget as presented. Mr. Greene seconded the motion and all members voted in favor. Item 4.4. Discussion and appropriate action regarding the October meeting date: Mr. Terrall said that there was a conflict with the normal meeting date in October due to a tradeshow that The Colony EDC is exhibiting at. Either October 3rd or October 1 ih would enable staff to prepare for the meeting and either would serve as alternative dates. The board decided they would like to have the October meeting on the 1 ih as there are five Wednesday's in October this year and would balance out with the previous and following month's meetings. EDC Minutes August 8. 2007, Page 3 Item 4.5. Discussion of economic development opportunities on Wynnwood Peninsula: Mr. Terrall said that Mr. Casterline asked this item to be placed on the agenda for discussion. Mr. Casterline said he would like to discuss any potential commercial development on Wynn wood Peninsula and would it be beneficial to have a bridge built from the end of the peninsula to S.H. 121. Mr. Terrall said that he spoke with Donna Bateman, the planning director, and if the Matthews Southwest land and the Corps land is taken away there is basically nothing left that is developable within the city limits that The Colony EDC could buy. Mr. Terrall said that years ago when a bridge was discussed it would have cost between $58 to $70 million dollars to build and there was talk of it becoming a toll bridge, but since that time the focus has been on other road projects, such as S.H. 121 and FM 423. Mr. Terrall also mentioned that another alternative if money were no object would be to connect Wynnwood Peninsula to Stewart Peninsula via a bridge to direct traffic through town which would create a need for a retail development on one or both sides near where the potential bridge would connect. If the bridge were to connect from S.H. 121 to Wynnwood Peninsula, Lebanon Road would become a commuter road and would still be required to be maintained by the City, plus it would take traffic away from Main St. which could hurt the retail businesses along Main St. There was much discussion of these items from the board and there was also discussion of if there was a possibility for the City to annex the portions of Wynnwood peninsula that were not part of The Colony, Little Elm, or Frisco. Mr. Terrall said he will bring this item back to the board for further discussion with other staff, like the planning director. who might be able to better address their questions and suggestions. Item 4.6. Discussion of Open Meetings Act: Mr. Terrall said that he would like to remind all the board members of the Open Meetings Act as it applies to emails. According to the 4A attorney, sending an email to the director and copying other board members is not a violation of the Open Meetings Act unless the board members are exchanging emails among themselves and/or using this communication in an effort to arrive at a consensus or vote on an item that the board will discuss and/or take action. Asking for an item to be placed on the agenda is not a violation of the Act. More than one member sending an email to the director expressing their respective opinion on a matter that may come before the board and copying other board members who in turn email the director and copy one or more of the board members with their respective opinion may violate the Open Meetings Act. The board members should refrain from sending emails to the director of another person for the purpose of posting their opinion at a web site where other board members may respond to such emails indirectly through the posting of their respective opinion to the director or another board member. EXECUTIVE SESSION a. The Economic Development Corporation pursuant to Section 551.071 (2) of the TEXAS COVERNMENT CODE to deliberate a financial or other incentive to business prospect EDC Minutes August 8, 2007, Page 4 a. Any action to be taken as a result of executive session regarding financial or other incentive to business prospect There was no executive session and no action was taken. President Norris adjourned the 4A board at 8:23 p.m. e~td.l' ~Y'-Q Cindi Lane " Economic Development Specialist ~~ [~A-JC~i Robert E. Norris President EDC Minutes August 8, 2007. Page 5