HomeMy WebLinkAbout01/08/03 EDC MINUTES
THE COLONY ECONOMIC DEVELOPMENT CORPORATION
REGULAR BOARD MEETING
CITY HALL COUNCIL CHAMBERS
JANUARY 8, 2003
The Regular Session of The Colony Economic Development Corporation of the City of
The Colony, Texas, was called to order at 7:00 p.m. on the 8th day o£January 2003, at
City Hall with the following roll call:
A1 Garcia, President Present
Bob Norris Present
Tia Harnlin Present
Kevin Greene Present
And with four voting members present, a quorum was established and the following
items were addressed:
Item 1.1. Pledge of Allegiance: A1 Garcia led in the Pledge of Allegiance.
2.0. CONSENT AGENDA
Item 2.1. Reports:
a. Cash flow projection
b. Tax Allocation Summary for December
c. Monthly ~ Cent Sales Tax graph
d. Monthly report from December to City Manager
e. Shapiro marketing update
f. Summary of current activity regarding development
Tom Terrall explained the cash flow projection pointing out that so far for the
fiscal year the sales revenue is approximately $13,000 below forecast. Although
the revenue is not up as much as was forecasted, the sales tax is 43% ahead of the
base year 2000. Mr. Terrall elaborated on a couple of points made in the
December monthly report to the City Manager. One of those was that a Main
Street project is still being discussed as a result of a tour given to a developer. Mr.
Terrall gave a presentation to the U.S. Pan Asian American Chamber of
Commerce in December and one member of that group has made an appointment
with him to look at The Colony for possible development. The Colony Chamber
has recently distributed a questionnaire that Mr. Terrall developed to determine if
there is a need for lease space to be occupied by those who are operating their
businesses out of their homes due to the lack of available lease space. Mr. Terrall
is hoping that the results of this questionnaire will support the need for
development of office lease space. Cindi Lane updated the board on a meeting she
had with Amy McCall of Shapiro & Company regarding the advertising plans for
the remainder of this fiscal year. Mr. Terrall informed the board that there are
developers who are still looking at S.H. 121 properties and there seems to be more
serious activity going on currently. President Garcia thanked Kevin Greene for
preparing the accounting reports for last month's meeting.
Item 2.2. Approval of the minutes of the board meeting held December 11,
2002: President Garcia asked if there were any corrections, changes or additions
that anyone would like to make and there were none. Bob Norris made a motion
to accept the minutes as written. Tia Hamlin seconded the motion and the motion
carried with all members voting aye.
3.0 PUBLIC COMMENTS
3.1. Public Input: Mr. Tom Terrall of 7701 Owl Creek Lane in McKinney spoke about
an event coming up on January 23 in The Colony. The event is Family First,
sponsored by Channel 8 and will consist of a parade in the morning, a luncheon
involving The Colony Chamber of Commerce at noon at The Tribute, a
community expo at the high school gym and will end with a Town Hall meeting
at the gym. Mr. Terrall said that he was hopeful that the general public will
support this event and the theme is the excellent quality of life in The Colony as
recognized by an article in D Magazine last year.
4.0 REGULAR AGENDA
Item 4.2. 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 Garcia adjourned the meeting at 7:16 p.m. for executive session.
Item 4.3. Consideration of appropriate action to be taken as a result of executive
session: President Garcia reconvened the meeting at 8:11 p.m. Ms. Hamlin made
a motion to approve an amendment to the Christian Community Action Economic
Development Agreement. Mr. Norris seconded the motion and the motion carded
with Mr. Norris and Ms. Hamlin voting aye and Mr. Greene voting no.
Item 4.1. Discussion and appropriate action concerning election of officers: (a)
president, (b) vice president, (c) secretary, (d) treasurer: Ms. Hamlin made a
motion to nominate Bob Norris for President. There were no other nominations.
Mr. Norris accepted the position of President by acclamation. President Norris
presided over the remainder of the meeting. He asked if there were any
EDC Minutes January 8, 2003, Page 2
nominations for Vice President. Mr. Garcia nominated Tia Hamlin for Vice
President. There were no other nominations. Ms. Hamlin accepted the position of
Vice President by acclamation. Ms. Hamlin then nominated Kevin Greene for
Treasurer. There were no other nominations. Mr. Greene accepted the position of
Treasurer by acclamation. Mr. Greene then nominated A1 Garcia for the position
of Secretary. There were no other nominations. Mr. Garcia accepted the position
of Secretary by acclamation.
President Norris adjoumed the meeting at 8:15 p.m.
Cindi Lane Robert E. Norris
Economic Development Specialist President
EDC Minutes January 8, 2003, Page 3