HomeMy WebLinkAbout10/27/98 EDC MINUTES
THE COLONY ECONOMIC DEVELOPMENT CORPORATION
OCTOBER 27, 1998 CHAMBER OF COMMERCE BUILDING
Present were: John Gordon
Randy Robinson
Dr. Richard Seidler
Gene Cone
Absent was: Kate Jarvella
Also present were: Mary Blair Watts, Mayor (Council Liaison)
Sue Walden, Ex-Officio
Darlene McKelvy, Recording Secretary
Gene Ramsey, Economic Development Director
Dr. Seidler called the meeting to order at 7:08 p.m.
Agenda item #1 - A motion was made by John Gordon to accept the minutes
of October 13, 1998. Randy Robinson seconded. The motion passed.
Agenda item #2 - A motion was made by Mr. Robinson to send a letter to
Shaughnna Blackmon of the Funplex Family Fun Center indicating that the
4A board does not have the resources to the fund the $1.5-2 million grant
she requested. Mr. Gordon seconded. The motion passed
Agenda item #3 - Mr. Robinson made a motion to table indefinitely
discussion of an event for all citizens of The Colony at opening of Austin
Ranch. It will be discussed when the developers have set an approximate
date for the celebration. Mr. Gordon seconded. The motion passed.
Agenda item #4 - Mr. Gordon made a motion to:
(1) authorize either 4A Board President Dr. Richard A. Seidler or 4A Board
Treasurer Randy Robinson to co-sign with either the Director of Finance of
the City of The Colony Tony Johnston or City Manager Lanny Lambert.
(2) authorize the creation of a bank account at First State Bank until January
1999.
(3) authorize staffto get proposals for a bank relationship after January 1999
from Nations Bank, Dallas Teachers Credit Union, G N B, and First State
Bank for interest rates and service charges which would maximize
opportunities for 4A. Gene Cone seconded. The motion passed.
(Mr. Robinson, abstained from voting.)
Agenda #5 - There was a discussion of prospects, comments by the Council
liaison and items of concern to the board.
Agenda #6 - Mr. Gordon made a motion to table until the November 10
meeting discussion regarding a request to expend $83,500 for the relocation
of a Lone Star Gas pipeline in the right-of-way of the proposed extension of
Josey Lane. At this time, staff will provide a cash flow forecast indicating
anticipated revenues, expenses and liabilities. Mr. Robinson seconded. The
motion passed.
Agenda #7 - Dr. Seidler referred to a letter board member Gene Cone who
has indicated that the will not seek reappointment after his term expires on
December 31, 1998. Dr. Seidler also referred to a thank you letter received
from Budget Suites' Vice President Brian Higie.
Agenda #8 - Mr. Gordon made a motion to table until the November 10
meeting the discussion of requirements for businesses to make
commitments, etc. to stay in the Colony a certain number of years as
conditions of 4A funding assistance. The staff was requested to prepare a
draft of wording to be included in the incentive information. Mr. Cone
seconded. The motion passed.
Agenda #9 -Mayor Watts said that this board and the sister board 4B should
feel flee to request proposals, hear presentations, and make
recommendations to the City Council regarding the three finalists and the
ultimate recommendation. Staffwill get proposals for a marketing plan for
The Colony, incorporating the Chamber of Commerce website and other
marketing materials.
Other comments included:
-The retreat October 24 with the City Council and the 4B board was very
beneficial.
-Staff should make arrangements for a monthly automatic draft on the bank
account to pay the City for administrative services.
-All members of the City Council should receive the notices, minutes and
agendas of the 4A and 4B meetings.
-Meeting minutes will be faxed to 4A board members as they are completed.
-The 4A board meetings will be rescheduled from the I st and 3rd Tuesday of
the month to the 2n'~ and 4t~ Tuesdays.
-The Colony Chamber of Commerce will be asked to allow the 4A board to
meet in their board room.
-Mayor Watts requested that the names and phone numbers of the 4A and
4B boards be laminated and supplied to the City Council.
Agenda #10 - Mr. Gordon moved to adjourn the meeting at 8:45 p.m. Mr.
Cone seconded. The motion passed.
~~lene~M~~ Re-cording S~retary