HomeMy WebLinkAbout02/12/03 EDC MINUTES
THE COLONY ECONOMIC DEVELOPMENT CORPORATION
REGULAR BOARD MEETING
CITY HALL COUNCIL CHAMBERS
FEBRUARY 12, 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 12th day of February 2003, at
City Hall with the following roll call:
Bob Norris, President Present
Tia Hamlin, Vice President Absent (business)
Kevin Greene, Treasurer Present
A1 Garcia, Secretary Present
And with three voting members present, a quorum was established and the following
items were addressed:
Item 1.1. Pledge of Allegiance: Bob Norris led in the Pledge of Allegiance.
2.0. CONSENT AGENDA
Item 2.1. Reports:
a. Cash flow projection
b. Tax Allocation Summary for January
c. Monthly ~ Cent Sales Tax graph
d. Monthly report from January to City Manager
e. Shapiro marketing update
f. Summary of current activity regarding development
g. Denton County Days February 24-25
h. Discussion of the Texas Alliance conference in Austin
i. Discussion of the TEDC conference in Austin
(a.) Tom Terrall went over the cash flow projection, and monthly ½ cent sales tax
graph and pointed out the tax allocation summary for January. (c) The January
sales tax was slightly ahead of last year and 41% ahead of the base year 2000. The
cash flow projection shows that sales tax for the fiscal year is lagging behind last
fiscal year. (d) Mr. Terrall went over his monthly report to the city manager
pointing out that a second questionnaire has been sent out to The Colony
Chamber businesses regarding finding out if there is a market in The Colony for
more office space. He discussed the progress of developing a Small
Business/Entrepreneur training program and he discussed the progress of a
cooperative ad campaign for Chamber members. Mr. Terrall informed the board
that he instigated a quarterly message that is printed on resident utility bills and
also the city website reminding them to shop in The Colony. Information given to
Mr. Terrall in two separate broker meetings pointed out that the office market is
very soft and there are several existing building vacancies. Industrial and retail
development is showing signs of recovery. Over 300 post cards with new, direct
line phone number information were mailed out to brokers and developers. (e)
Cindi Lane updated the board on the marketing campaign. Shapiro & Company
has redesigned one ad and they are in the process of creating a brand new ad. A
news article of the WFAA Family First in The Colony will be added to the
website in the "news" section. (f) Mr. Terrall mentioned that there are two
separate developers looking at The Colony. (g) Mr. Terrall explained the protocol
of Denton County Days. He prepared a letter to the legislators signed by the 4A
president, the city manager and the mayor stating the issues that The Colony is
concerned about. (h) Mr. Terrall will not attend the Texas Alliance prior to the
TEDC conference due to low registration turnout. (i) Mr. Terrall will go to Austin
on February 19 and attend the winter Texas Economic Development Council
conference. He is serving on two committees, the forward planning and the
conference committees.
Item 2.2. Approval of the minutes of the board meeting held January 8, 2003:
President Norris asked if there were any corrections, changes or additions that anyone
would like to make and there were none. President Norris approved the minutes by
acclimation.
3.0 PUBLIC COMMENTS
3.1. Public Input: There was no public input.
4.0 REGULAR AGENDA
Item 4.1. Discussion and appropriate action of the scheduling regarding a work
session to discuss the Comprehensive Policy Statement revision: Mr. Terrall
said that at the January meeting the board decided to hold a work session
regarding this subject. He asked the board to choose a location and recommended
having it on a Saturday morning. A1 Garcia made a motion to hold the work
session at Hidden Cove on a Saturday morning and have Ms. Lane poll the board
members to see which Saturday was available for their attendance. Kevin Greene
seconded the motion and the motion carded with all members voting in favor. The
board narrowed the meeting date down to either March 15 or March 29. Ms. Lane
will check once again with Hidden Cove and poll the members.
Item 4.2. EXECUTIVE SESSION as authorized by section 551.086 of the Local
Government Code regarding Economic Development, to-wit:
EDC Minutes February 12, 2003, Page 2
A. To deliberate the offer of a financial or other incentive to a
business prospect:
President Norris adjourned the meeting at 7:32 p.m. for executive session.
Item 4.3. Consideration of appropriate action to be taken as a result of executive
session: President Norris reconvened the meeting at 8:05 p.m. Mr. Garcia made a
motion to accept the amended agreement for The Colony Gynmastics and Dance
Academy. Mr. Greene seconded and the motion carded with Mr. Garcia and
President Norris voting in favor and Mr. Greene voting no.
With no other business to discuss, President Norris adjourned the meeting at 8:06 p.m.
Cindi Lane Robert E. Norris
Economic Development Specialist President
EDC Minutes February 12, 2003, Page 3