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HomeMy WebLinkAbout06/02/98 EDC MINUTES THE COLONY ECONOMIC DEVELOPMENT CORPORATION JUNE 2, 1998 CITY HALL CONFERENCE ROOM President Richard Seidler called the meeting to order at 7:07 p.m. Present were: John Gordon Councilmember Bernetta Henville-Shannon Randy Robinson Kate Jarvella Richard Seidler Also present were: Mayor Watts Lanny Lambert, City Manager Tony Johnston, Finance Director, Staff Liaison Jenny Pace, EDC intern, Recording Secretary Item//4 - Shauna Blackmun presented a proposal for a Funplex family entertainment center possibly locating in The Colony. The facility features a 30-lane bowling facility, 100-game arcade, lasertag, virtual reality, billiards, miniature golf, sports bar, party facility and more. It is expected to consistently generate $2.5 million annually in the community and employ approximately 35 employees. Shauna Blackmun stated that a lot of the bigger companies did not want to locate in The Colony because of the City's size, so she has a proposal for a smaller, 24-lane alley. However, she was not in favor of this because the cost to build 6 lanes less is not a substantial amount and the revenue generation for the 30-lanes is so much larger. The difference in the cost to build the two is about $200,000. She also discussed possible competition, but does not see that as a major threat because of the desire of The Colony residents to keep business here. Funplex would prefer to locate in the existing Wal-Mart, but the two timeframes probably will not coordinate. They would like to begin construction in March, and Wal-Mart will probably be ready to move out around September or October. Shauna would like to create a center where kids could walk to, and she wants this to be a center that is sensitive to the needs of parents. She is also looking at FM 423, possibly next to Braum's. John Gordon asked what the revenue projections would be for The Colony. Shauna Blackmun stated that the center would operate at 80% capacity during peak hours (4- 6p.m.), and leave the remaining 20% for open bowling. Shauna Blackmun stated that this is a project that she is very dedicated to working on, and she stressed concern that the project might not meet the requirements of The Colony. Richard Seidler explained to her that once the application form is approved, she could fill it out with more information and get ready to make a formal presentation. Mayor Watts stated that she had contact with a toy store. The fact that The Colony has 43% of the population under the age of 18 peaked the store's interest. The store requested a drive time of 30 minutes north and ten minutes south. The Mayor also stated that she has a meeting with a large restaurant chain on June 16 at 9:30 a.m., and requested that the Board also be present. Mayor Watts stated that the Dallas Business Journal article has been a very good marketing tool, and that she has received many phone calls as a result. Mayor Watts suggested that the EDC looks into Dan Mahoney, former director of Irving Economic Development Foundation, as a possible candidate for our EDC Director. John Gordon discussed the idea of a joint 4A and 4B job description. Mayor Watts stated that according to Worth Blake, more successful people would be attracted to managing both Boards. Tony Johnston stated that an Economic Development Director has to concentrate primarily on economic development because that alone is so demanding, instead of making that position to include Assistant City Manager responsibilities. He gave the example of Brad Mink, Economic Development Director in Carrolton. Mayor Watts discussed a letter she received from the Economic Development Group, which is a consulting firm that specializes in strategic planning, targeting, marketing, business profiles, sales research, etc. Essentially, this company does all of the work. The Colony would contract out with this firm and could be a possible alternative to having a Director. John Gordon expressed his concern that if The Colony contracted with this firm, what its dedication would be to The Colony. The Board agreed that it was worth looking at, and that Tony Johnston and Jenny Pace will try to schedule a meeting. Mayor Watts asked the Board what they want on SH121, whether it is restaurants, office supply stores, or strip shopping malls. Richard Seidler stated that when the Board has their meeting with TU Electric they should decide on where they want their development district to be. John Gordon would like to have a strategic planning session so that we know who we are and what we have to market, before we go out and try to bring in business. Randy Robinson stated that if the EDC's role is to create jobs and tax base, then they would be better served by spending their money on Austin Ranch type projects. Mayor Watts stated the condition of the Frisco mall development, which could be a benefit for The Colony. Randy Robinson stated that the new Wal-Mart will act as a catalyst for smaller retail stores to build around it. There is a need to work with the developers because someone has to put the whole plan together. Kate Jarvella discussed the need to continue talking to prospects and developers although the EDC does not have a master plan implemented. She said The Colony could use those contacts as leverage once a final plan is in place. Lanny Lambert stated that the 4A Board needs professional help on developing a strategic plan. We have to know where we are going. Item #2 - Discussion of the TU Electric meeting. The Board decided to keep the July 7th tentative date. Jenny Pace stated that she would get back to the Board at~er she receives confirmation of that date. Mayor Watts stated that the Regional Transportation Council will hold a public hearing on June 8 at 3p.m. in the Lewisville City Council chambers to give an update on all transportation in the area. Bernetta Henville-Shannon stated that Lucy Billingsly has requested to be included on the next meeting's agenda to give an overview of current prospects. Richard Seidler stated that he would feel more comfortable talking to prospects when a plan is in place. Richard Seidler and Mayor Watts discussed why Overhead Door did not locate here. Billingsly did not have rail service, and the city of Carrolton did. For information purposes, The Colony does have rail services in the city. John Gordon stated that he does not want to be in a constant battle with developers and landowners. Bernetta Henville-Shannon stated that The Colony cannot provide tax abatement now unless we have more of a commercial base to supplement the taxes. Richard Seidler stated that the Mayor should continue using her availability to keep meeting with people. He likes the idea of a reception to bring in contacts when the EDC gets everything in order. Mayor Watts stated that Rich should ask permission to use Lucy Billingsly's invitation list. She also discussed the situation and progress of other developers. Bernetta Henville-Shannon stated that the image of The Colony outside of the city is changing. There is now name recognition. Item #1 - Hiring a Director - Lanny Lambert explained the Employment Calendar's time frames and hiring process. He stated that he wants both the 4A Board and himself to be comfortable with the Director they hire. He recommends that they take their time, but that he wants someone on Board by September 1~t. The Board agrees to go national with advertising. The Board discussed the 4A and 4B responsibilities of a Director, and the Director's job description. They agreed on the following descriptions: a preferred masters degree; more than five years experience; 4A needs highly skilled, qualified individual; needs to be aware of 4B functions; specializing in economic development. Bernetta Henville- Shannon stated that the Board should not disregard OJT. The Board also discussed what a 4B Director would require. Bernetta stated that the 4B Board wants a Director dedicated to 4B only. John Gordon stated that it is only fair to make sure that in the interviewing process that we include the possibility of a Director working for both 4A and 4B Boards. Lanny Lambert also stated the possibility of an Assistant City Manager heading both Boards. Item #3 - John Gordon motioned to approve the incentive policy. Kate Jarvella seconded. Richard Seidler asked the question of whether or not the policy needs to be more specific when addressing the older sections of town and the section of Paige and South Colony that needs to be redeveloped. Randy Robinson thought the policy needed to be more vague in that section. Bernetta Henville-Shannon agreed. John Gordon stated that the policy should leave that part open and not limit it. Kate Jarvella stated that we need to know what we consider as a threshold for older parts of the city. These "redevelopment zones" were designated as anything ten years or older. Kate Jarvella introduced the question concerning the section under "Salaries" (above average), and asked what was used as a measurement for local businesses. She was concerned that we might not have local businesses to measure it to. Richard Seidler stated that we need to decide a baseline to compare salaries. The Board amended it to say "salaries 20% higher than the norm based upon NCTCOG numbers." Lanny Lambert stated that the application form is not complete. To be added are: a list of and support for incentives being applied for and an application threshold. The Board decided to approve the package except for the application form, which will be changed, so John Gordon motioned to reamend the package and Kate Jarvella reamended her second. It passed. Bernetta Henville-Shannon stated that the Board was moving in a very positive direction and there was a noticeable improvement. John Gordon motioned to adjourn. Randy Robinson seconded. The meeting ended at 9:25 p.m. ~ eidler, President ATTEST: