HomeMy WebLinkAbout02/23/98 EDC DRAFT ONLY
MINUTES
THE COLONY 4A ECONOMIC DEVELOPMENT CORPORATION
MEETING
FEBRUARY 23, 1998
THE COLONY CHAMBER OF COMMERCE
7:00 PM
President Richard Seidler called the meeting to order at 7:27 p.m.
Present were: Jorge Diaz Randy Robinson
John Gordon Richard Seidler
Kate Jarvella
Staff present: Betty McKean, Director of Economic Development
Diane Baxter, Executive Secretary to the City Manager
A quorum was present and due notice was published.
Rich Seidler made a motion to approve the minutes from the 12/4/97 meeting. Jorge
Diaz seconded - vote unanimous.
Rich discussed the need to change the term "small businesses" in the Mission Statement
to "existing businesses". Randy Robinson stated that he would like to add "recruitment
of new businesses" to the mission statement.
Betty McKean gave a briefmg on the Wal-Mart project and distributed the Council
minutes from the 3/2/98 meeting. She advised the board to investigate the need for legal
counsel before making any determination on the expenditures of funds. She would like
to see Harry Persaud, Director of Planning attend a Board meeting to discuss land use.
The Board discussed the decision of the Wal-Mart traffic light setting precedent for
future requests.
Betty McKean explained that a policy must be in place to back up the principles that
show why you came to a decision.
Concerns were voiced by members of the Board regarding the article in the local
newspaper about the 4A Board committing to the financial assistance with the Wal-Mart
streetlight project.
Board members took turns relaying all the information that they had collected regarding
neighboring cities and their Economic Development Corporations. Most important were
the structure (city managed or independent), staff'mg and budget. Cities that were
researched were Frisco, Piano, McKinney and Allen.
Randy Robinson questioned whether the EDC could give sales tax rebates. Kate Jarvella
stated that she noticed the other cities were not offering a lot of incentives to developers.
Betty McKean advised the Board to start at the beginning and look at everything because
they will be getting many requests.
Richard Seidler wanted an explanation on the term "Enterprise Zone". Betty McKean
informed him that it had to do with tracking numbers and it was not used very often.
Discussion followed regarding the need of office space. Richard Seidler informed the
Board that GNB has offered space in their bank building. Randy Robinson agreed that
they need to explore that possibility, also work on a temporary (6-9 months) budget, how
the Board will be funded and what all the options are.
Richard Seidler reminded the Board that the City has terminated Betty McKean's
contract as of March 23'0 and the Board will be without a Director unless they pick up the
remainder of her contract.
John Gordon suggested that the Board members sit down with Mr. Lambert to discuss
these issues so as to avoid any miscommunications.
Discussion was held regarding Mr. Lambert's proposal. Betty McKean advised that the
proposal is incomplete because the Board's goals and structures are not in place. She
suggested that the Board hold a budget workshop to put together a line item structure.
She pointed out that there are some things that the Board may want to purchase from the
city (audit, payroll, accounts payable), and suggested that for the next few months they
might want to use contract services. Betty advised the Board that Mr. Lambert is willing
to listen to a proposal from the Board and have a joint meeting with Council.
Betty explained the Sales Tax Financial Report and Financial Statement. She told the
Board that Mr. Lambert had offered to loan the Board the money they need until such
time that sales tax revenues come in.
Richard Seidler encouraged the Board to renew Ms. McKean's contract or to write a new
contract with her.
Betty McKean suggested to the Board they request additional information regarding
specific costs of city services.
The meeting was adjourned at 10:20 p.m.
~ Richard Se~dler, President
Attest:
'])~ane Baxter, ]k~ording Secretary