HomeMy WebLinkAbout05/19/98 EDC MINUTES
THE COLONY ECONOMIC DEVELOPMENT CORPORATION
MAY 19, 1998
CITY HALL CONFERENCE ROOM
President Richard Seidler called the meeting to order at 7:10 p.m.
Present were: John Gordon Councilmember Bernetta Henville-Shannon
Randy Robinson Kate Jarvella
Richard Seidler
Also present were: Mayor Watts
Lanny S Lambert, City Manager
Tony Johnston, Finance Director/Staff Liaison
Jenny Pace, EDC intern, Recording Secretary
President Seidler welcomed guests and asked whether an executive session needed to be
posted. Lanny Lambert stated that there are three reasons for an executive session,
personnel, pending litigation, and real estate transactions. He said that the attorney felt
that EDC did not have justification for an executive session. Randy Robinson felt that if
a meeting was only going to be informational, then it did not have to be open, but if there
was going to be an action item, then it needed to be an open meeting. The Board decided
that prospects were something they needed to be aware of and discussion of them were
acceptable.
Item #6 -Mayor Watts stated that if any developments come before any of the board
members and they want t6 financially participate then those items must immediately be
brought before the entire Board. However, this action may be perceived as unethical, and
as a cause for conflict.
The first prospect Mayor Watts discussed was a family entertainment center. This
prospect wants to be placed on the next agenda to make a formal presentation to the
Board. Details of this prospect discussed were: incentives, packages, and location.
Kate Jarvella stated that this prospect should still go through the p~ application
process, and the Board should put this process into action so that all fimn:e companies and
businesses will go through the proper application process. Lanny Lambert explained the
application and form process.
Rich Seidler and Kate Jarvella felt that an incentive policy should be decided upon before
any prospects are considered, but that they had no problem with this prospect giving a
presentation to the Board. Rich Seidler decided to put the prospeCt aa the next agenda.
Mayor Watts discussed a meeting that she, John Gordon, and Lanny Lambert had with a
major developer. Lanny stated that the developer displayed an interest of redeveloping a
particular site, and that the meeting was successful. The Mayor also said that the EDC
¸%.
needs a scrapbook of newspaper clippings of information pertaining to economic
development in The Colony. The EDC's marketing package needs to include things that
have happened, instead of things that are promised.
Mayor Watts discussed the need for a site inventory, and that Harry Persaud is going to
try and put some information about building features on the Intemet. Randy Robinson
introduced the idea that The Chamber of Commerce has a grant with Southwestern Bell
for economic development, and that the EDC could possibly match that grant and use the
money from that for the development of a web page, and to produce CD's of information
to mail out.
Mayor Watts discussed the second person she had been contacted by.
Mayor Watts discussed the possibility of bringing a movie theater into The Colony and
stated that she received a phone number of a smaller developer in Austin that could be a
possibility.
Mayor Watts also updated the Board on project Roadrunner. John Gordon thought a
project like this would be beneficial to The Colony and would attract more shopping,
eating, etc. This project is also considering a similar proposal from Carrollton.
Lanny Lambert stated that tax abatement hurts The Colony more than it does Carrollton.
He would rather encourage incentives. Tony Johnston stated that the Board must
consider a balance of incentives, because the 4A EDC Board is starting out cash poor,
and tax abatement would help them.
Mayor Watts also discussed the prospect SRFP, which would be locating either on Shift
Hill or Indian Creek West.
Mayor Watts feels that we need to go out and meet with the real estate brokers. People
know of The Colony, but not about it. She stated that at least once a week the Board
should be meeting with a broker/developer. She also asked the Board if they wanted her
to remain a point of contact. She envisions introducing prospects to the Board and then
she is out of the picture - incentives, packages, and everything else is up to the Board.
The Board agreed that it is a good idea because she is in a key position to receive
prospects/contacts.
Kate Jarvella thought it would be beneficial for the Board to go with the Mayor on calls
pertaining to prospects.
John Gordon stated that he was pleased with the reception that he and the Mayor received
from Weitzman Real Estate.
Mayor Watts stated that she would like the EDC to begin interviewing for a Director
now. Lanny Lambert said that nothing has been done towards looking for a Director. He
wants to first propose a job description. Bernetta Henville-Shannon stated that the
Council would like to see one person handle both the 4A and 4B functions. Lanny said
that this item was not on the agenda, so he will put it on next meeting's agenda for further
discussion.
Mayor Watts informed the Board that the Dallas Business Journal is writing two articles
on economic development in The Colony.
Lanny Lambert said that a restaurant chain contacted Harry Persaud about possibly
locating to The Colony.
Item//5 - John Gordon motioned to approve the minutes and Kate Jarvella seconded. All
approved and it passed.
Item//1 -Tony Johnston explained the preliminary budget for 1998-99 fiscal year. If the
EDC stays between 25-30% of revenues and use IA of that in administrative costs, at the
end of the year there will be approximately 75% of the funds still available. This means
that in the '99-00 year, the EDC will start having cash for incentives. He also stated that
the budget is flexible and low enough so that the new ED Director can still make
adjustments. John Gordon stated that he was comfortable with the budget. Randy
Robinson and Bemetta Henville-Shannon both thought that the Council would agree with
it. John moved to accept the budget, and Randy seconded. All were in favor, and it
passed.
Item//3 - Lanny Lambert discussed the proposed incentive package and its attachments.
He read over the policy and explained what was in the package. Items discussed were:
incentives available, application threshold, negotiation process, negotiations team, and
extra incentives. He acknowledged that the package was not complete, and it needs input
from the Board. Richard Seidler recommended that the Board reviews and makes notes
on the policy before it is adopted. Randy Robinson motioned to table it to the next
meeting, Kate Jarvella seconded. All were in favor.
Lanny Lambert stated that all project negotiations would be taken to the EDC and then to
Council. The EDC Board would not see the project until the formal presentation.
Item //2 - Jenny Pace presented an example of a strategic plan to the Board. Lanny
Lambert stated that there were some sections missing, and that the Board should consider
who it wants to target and where it wants to go before it adopts anything. John Gordon
suggested the Board spend a whole meeting in developing a strategic plan.
Jenny Pace introduced the idea of holding a public hearing on the strategic plan. Kate
Jarvella though that was a good idea. Bernetta mentioned how the 4B Board held a
public heating and received a good response on it. Lanny Lambert felt that only the
target industries need to be made available at a public hearing, but still have a strategic
plan available. He also discussed holding the meetings at locations meh as schools or
churches. John Gordon wants to present a strategic plan to Council before a Director is
hired. The consideration of approval of a strategic plan was tabled for further notice and
until after the meeting with TU Electric. All were in favor.
Discussion of TU Electric meeting was held. Tentative dates to hold the meetings were
decided upon (Junel0, July 7), and the Board discussed what goes on at the meetings and
what they entail.
Tony Johnston stated that sales tax revenues are on the rise because of the economy, and
the progression of sales tax is looking good for The Colony. Larmy Lambert stated that
the hottest economy in the US is in North Dallas.
John Gordon moved to adjourn. Randy Robinson seconded. All were in favor and the
meeting ended at 9:00 p.m.
~P~esident
ATTEST:
J~(~ny Paq/e,,_~eC°rding Secretary