HomeMy WebLinkAbout03/29/03 EDC MINUTES
THE COLONY ECONOMIC DEVELOPMENT CORPORATION
SPECIAL BOARD MEETING
HIDDEN COVE PARK CONFERENCE CENTER
MARCH 29, 2003
The Special Session of The Colony Economic Development Corporation of the City of
The Colony, Texas, was called to order at 8:14 p.m. on the 29th day of March 2003, at the
Conference Center in Hidden Cove with the following roll call:
Present: President Bob Norris
Vice President Tia Hamlin
Treasurer Kevin Greene
Absent: Secretary A1 Garcia
And xvith three voting members present, a quorum was established and the following
items were addressed:
Item 3.2. EXECUTIVE SESSION as authorized by section 551.086 of the Local
Government Code regarding Economic Development, to-wit:
A. To deliberate the offer of a financial or other incentive to a business
prospect. President Norris adjourned for the executive session at 8:15 a.m.
Item 3.3. Consideration of appropriate action to be taken as a result of executive
session: President Norris reconvened the meeting at 8:50 a.m. Kevin Green made
a motion to approve the commitment letter dated March 29, 2003 addressed to
David Wilson and to approve the incentives authorized therein to be executed by
4A President Bob Norris and Director of Economic Development, Tom Terrall
with one change made on page three, changing "but more than 50,000 square
feet" to "at least 50,000 square feet." Tia Hamlin seconded the motion and the
motion carried with all members voted in favor.
Item 3.1. Discussion of and appropriate action regarding the Comprehensive Policy
Statement and Application for Economic Development Assistance: President
Norris asked if there was any public input on this subject. Sue Walden of 5081
Avery asked to speak. (Kevin Greene left the meeting at 8:55 a.m. to go to work.)
Ms. Walden said she would like for the current incentive policy to be addressed.
She would like to see separate incentives for small local or non-local businesses.
She would also like to see low or no interest loans become an option. She feels
that the current policy with a minimum of 25 to 50 employees is too high a
standard for a local business that is looking for incentives to expand. She
suggested having two sets of incentives available. There was discussion of the
vacant buildings along Main Street and which type of businesses 4A is allowed to
offer incentives to according to the Texas attorney general. There was discussion __
of the Beall's space. Mr. Terrall stated that there are changes coming out of the
current legislature and he explained issues that are currently under review. He
said that a legislative letter signed by the city manager, mayor, 4A president and
economic development director was distributed to several Texas legislators. Ms.
Walden said she was concerned that there seem to be no incentives for local
businesses wanting to expand. Mr. Terrall told her that every application is looked
at on a case-by-case basis and that the board looks at the overall economic benefit
to the community. There was a discussion of loans. Mr. Terrall said that 4A is
trying to work with The Colony Chamber to try to make local businesses stronger.
Mr. Terrall explained that at the time the local 4A and 4B sales taxes were passed
the law would not have allowed 4A to do anything in the Act because of the
zoning of The Colony.
President Norris adjourned the meeting at 9:50 a.m.
Cindi Lane ~ Robert E. Norris
Economic Development Specialist President
EDC Minutes March 29, 2003, Page 2 of 2