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HomeMy WebLinkAbout08/25/99 EDC MINUTES THE COLONY ECONOMIC DEVELOPMENT CORPORATION REGULAR BOARD MEETING CITY HALL COUNCIL CHAMBERS AUGUST 25, 1999 Present: President John Gordon Treasurer A1 Garcia Secretary Delaina Hammock Member Lois LeBlanc Ex-officio Member Sue Walden Staff: Gene Ramsey Cindi Lane Guests: Jerry Conner, Economic Development Services H. C. Zachry, Zachry Associates Item 1.0. Call to Order: President Gordon called the meeting to order at 7:01 p.m. and led in the Pledge of Allegiance. Item 1.2. Staff Reports: Gene Ramsey covered the financial reports, the sales tax statistics, the August tax allocation summary, and stated that payment obligations for the gas line and water line were fulfilled. Mr. Ramsey also informed the Board that the sales taxes are up 25% fi'om last year. He mentioned that Budget Suites will be sent their first $20,000 check after they are issued the final certificate of occupancy fi'om the inspections department. Item 1.3. Board President's Comments: President Gordon had no comments. Item 1.4. Citizen Input: There was no citizen input. Item 1.5: Advisory Board member comments: Ex-officio member Sue Walden updated the Board on the 4B Board's recent meetings, including the Town Hall meeting and work session-board meeting held August 17th and August 19th respectively. Item 2.1. Consideration of approval of the minutes of the board meeting held July 28, 1999: A motion was made by Treasurer A1 Garcia to accept the minutes of the board meeting held July 28, 1999. Secretary Delaina Hammock seconded the motion. The motion carried with all ayes. Item 2.2. Consideration and approval of adoption of 1999-2000 budget and contract with The City of The Colony: A motion was made by Ms. Hammock to accept the 1999-2000 budget as presented. Member Lois LeBlanc seconded the motion. The motion carried with all ayes. Ms. Hammock made a motion to accept the 1999-2000 contract between the City of The Colony and The Colony Economic Development Corporation. Mr. Garcia seconded the motion and the motion carried with all ayes. Item 2.4.Discussion of North Texas Commercial Association of Realtors booth with The Chamber of Commerce on September 2nd: Mr. Ramscy reported on the status of gathering photos, flags, the putting green and the drawing for the retreat at Hidden Cove. He invited all members of the Board to participate in the NTCAR. Item 2.5. Allies Day Update: Mr. Ramsey informed the Board of the status regarding the planning of Allies Day on October 20, 1999. He discussed the invitations, the prospect of the Hole in One Car Give Away and the number of guests to be invited. Item 2.6. Discussion of TXU goals and timeline: Mr. Ramsey reviewed the list of goals determined at the TXU workshop held May 22, 1999. President Gordon suggested that these goals and objectives should be reviewed periodically to enable the Board to complete them. Ms. LeBlanc requested that status report information be provided on each goal item. Item 2.7. Discussion of alternate meeting days until the new city hall is available: Mr. Ramsey suggested to the Board that since the new city hall is not available yet and the Police Academy will need the Council Chambers on Wednesday nights through November, that the Board meet on the same day and time but in the Conference Room. The meetings will still take place on the second Wednesday of each month. Item 2.8. Concerns of the Board: Discussion items were as follows: 1) The status of the negotiation team with the prospect. 2) The status of the assisted living facility. 3) Who is The Colony trying to market itself to, the developers or the brokers? 4) Who is responsible for the up-keep of existing shopping centers? 5) When does the Board review the proposals by financial institutions for the next year? 6) The status of new and existing Board members. Item 2.9. Future agenda items: Future agenda items include: 1) Updates ~om Budget Suites and Comfort Suites for June, July and August occupancy rates. 2) Update of TXU goals. 3) Bank account proposals. 4) Consideration of approval for using $50,000 this fiscal year and $60,000 next fiscal year for marketing The Colony. 5) Update on bowling alley. EDC Minutes, August 25, 1999, Page 2 of 3 Item 2.3. EDS study status report: Jerry Conner of Economic Development Services made a presentation to the Board consisting of the information his fn'm has gathered about The Colony thus far. Areas covered were as follows: 1) Why economic development in The Colony? 2) Structure of Economic Development Services 3) The Solution Process 4) The Colony Economic Development drivers 5) Discussion of statistics 6) Land usage as compared with our neighbors 7) Retail sales as compared with our neighbors H.C. Zachry of Zachry Associates presented his marketing strategy to the Board. He outlined the process for producing and distributing quality pieces of marketing material for The Colony. His ideas were as follows: 1) Establishing an Image for The Colony 2) Identifying Target Audiences who can directly affect The Colony 3) Developing Educational Materials 4) Implementing the Program 5) Forecasting a two-year Budget 6) Establishing a Schedule for Production and I0mplementation Upon the conclusion of his presentation, Mr. Zackry discussed a strategy as to how the Board could use a portion of the 4A funds to purchase the marketing materials and advertisements to promote the city. The Board decided to place this item on next month's agenda for discussion and possible action. Executive Secretary EDC Minutes, August 25, 1999, Page 3 of 3