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HomeMy WebLinkAbout09/12/07 EDC MINUTES THE COLONY ECONOMIC DEVELOPMENT CORPORATION REGULAR BOARD MEETING CITY HALL CONFERENCE ROOM SEPTEMBER 12, 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 lih day of September 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 Absent, (Business) Present Absent, (Business) Present Present Staff Members Present: Tom Terral!. Director of Economic Development Cindi Lane. Economic Development Specialist Donna Bateman, Director of Development Services 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: Vice President Rick Casterline led in the Pledge of Allegiance. 2.0. CONSENT AGENDA Item 2.1. Reports: a. Cash flow projection b. Monthly ~ Cent Sales Tax graph c. Tax Allocation Summary for August d. Summary of current activity regarding development e. Marketing update f. Report of NTCAR Expo August 30 g. Report of NAJOP golf tournament September 11 h. ICSC Texas Conference & Deal Making tradeshow October 10-12 I. Treasurer report (a) Mr. Terrall reported that the sales tax revenue was within $500 dollars of projected revenue and has exceeded projections by $39.000 for the year. (b) The graph shows that in every month since January sales tax has been higher than in the previous three years. (c) The sales tax revenue reflects an approximate 3% change from this month last year and an approximate 6% change for this calendar year. (d) Mr. Terrall said that, according to the planning department there is nothing new to report for this month. (e) Ms. Lane reported the website statistics, an ad placed in the Dallas Industrial Guide, and said that there is a revision of a retail ad that will be placed in Shopping Center Business that will be seen by the ICSC attendees in time to announce our booth number at the ICSC Texas Deal Making tradeshow in October. (t) Mr. Terrall reported that the NTCAR Expo was probably the most productive of all the Expos he has exhibited at so far. There were approximately 1,700 attendees and 101 exhibitors. Response to the new booth was overwhelming. The colors and the lights stood out in the room. The drawing for a foursome of golf at The Tribute was won by Travis Parker who is Senior Project Manager with Panattoni Construction. (g) The NAIOP golf tournament was very successful. in fact Mr. Terrall said that it seemed to be the most successfully organized and best networking tournament out of all the ones The Colony EDC has been a part of. There were many compliments handed out for the give-a-ways. The golfers were impressed with the new Lebonan Rd. and with all the construction on the Wynnwood Peninsula. Mr. Terrall has had a conversation with the new person in charge of the upcoming tournaments about extending the MOU agreement to keep the NAIOP tournament in The Colony for several more years. Mr. Terrall will work with NAIOP to try to make that happen. (h) Mr. Terrall outlined the agenda of the upcoming ICSC in San Antonio. There will be other networking opportunities in addition to the tradeshow itself. This year the tradeshow has extended the hours from just the last day to include a couple of hours during the second day. There will also be a "Retailer Roundup" which will enable Mr. Terrall and Ms. Lane to visit retailers who are looking to expand their stores in Texas and they will receive a booklet with the contact information and criteria for each retailer. This will allow The Colony EDC to examine the criteria and find retailers who would be a good fit in The Colony and follow up with them after the tradeshow. (i) Kevin Greene was not present so there was no treasurer report given. 2.2. Approval of the minutes of the regular board meeting August 8, 2007: Vice President Casterline asked if anyone had any questions regarding the minutes and there were none. Mr. Koenig made a motion to approve the minutes as presented. Mr. Garcia 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. Discussion of Wynnwood Peninsula as it pertains to annexation and development: Mr. Terral I introduced Donna Bateman to the board. She passed EDC Minutes September 12.2007. Page 2 out an annexation ordinance that explains what The Colony can legally do on this topic. She gave a presentation of the possible annexation areas of Wynnwood Peninsula. The board asked questions about the laws of annexation and miscellaneous questions. Ms. Bateman discussed the benefits of annexation and informed the board that The Colony is currently in the process of voluntary and involuntary annexation of all the available land. EXECUTIVE SESSION 5.1. The Economic Development Corporation pursuant to Section 551.071 (2) of the TEXAS GOVERNMENT CODE to deliberate a financial or other incentive to business prospect. There was no executive session. 5.2. Any action to be taken as a result of executive session regarding financial or other incentive to business prospect: No action was taken. Vice President Casterline adjourned the 4A board at 8:06 p.m. Gn1i dw~ z/J CJ;:;(~ Rick Casterline Vice President - - Cindi Lane Economic Development Specialist EDC Minutes September 12.2007. Page 3