HomeMy WebLinkAbout09/08/99 EDC MINUTES
THE COLONY ECONOMIC DEVELOPMENT CORPORATION
REGULAR BOARD MEETING
CITY HALL COUNCIL CHAMBERS
SEPTEMBER 8, 1999
Present: President John Gordon
Treasurer A1 Garcia
Secretary Delaina Hammock
Member Steven Sims
Member Bob Norris
Ex-officio Member Sue Walden
Staff: Gene Ramsey
Cindi Lane
Guests: Jerry Conner, Economic Development Services
Item 1.0. Call to Order: President Gordon called the meeting to order at 7:05 p.m. and
led in the Pledge of Allegiance.
Item 1.2. Staff Reports: Gene Ramsey covered the financial reports, the sales tax
statistics and the September Tax Allocation Summary. There was discussion of
showing comparisons of monthly sales taxes fi:om the previous year compared
with the same month in the current year.
Item 1.3. Board President's Comments: President Gordon thanked Lois LeBlanc for
her time and efforts while serving on the board. He acknowledged the newly
appointed members and stated that he is looking forward to working with them.
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 activities.
Item 2.1. Welcome to new board members: President Gordon welcomed the new
members.
Item 2.2. Consideration of approval of the minutes of the board meeting held
August 25, 1999: A motion was made by Treasurer A1 Garcia to accept the
minutes of the board meeting held August 25, 1999 with the amendment of Item
2.1 in which Mr. Garcia was referred to as Vice President. Secretary Delaina
Hammock seconded the motion. The motion carried with all ayes.
Item 2.3. Discussion of Budget Suites and Comfort Suites occupancy rates: Mr.
Ramsey gave a report of the occupancy rates for Budget Suites and Comfort
Suites.
Item 2.4.Discussion of TXU goals and timeline: Mr. Ramsey reviewed the origin of the
TXU goals for the new board members and went through the timeline. President
Gordon recommended that two additional goals be added and completed by the
end of this year. One is to identify the landowners south of SH 121 by
Headquarters Drive and set up a meeting between them and the 4A Board in
November. The second goal is to share ideas with the Billingsleys and make them
aware that the 4A Board is willing to help them become successful.
Item 2.5. Discussion of bank account proposal comparisons: Mr. Ramsey distributed
drafts of letters that would be sent to financial firms regarding selection of a
depository in 2000. The board requested comparisons of Texpool and other
financial institutions' administrative fees.
Item 2.6. Report of Denton Co. EDC booth with The Chamber of Commerce on
September 2nd: Mr. Ramsey informed the board of the excellent response and
contacts made at the North Texas Commercial Association of Realtors trade
show. He explained how the Chamber of Commerce worked with the 4A Board
and thanked all participants for their help.
Item 2.7. Allies Day update: Mr. Ramsey discussed the status of the Allies Day on
October 20th. He said that the invitations were ready to be mailed.
Item 2.8. Discussion and appropriate action regarding marketing strategy and
implementation by Zachry Associates: Mr. Ramsey outlined the procedures and
regulations pertaining to marketing as related to economic development
corporations. He made references to the 'Texas Municipal Law and Procedures
Manual" which governs municipalities and to the "Attorney General's Handbook
on Economic Development for Texas Cities" which allows no more than 10% of
revenues can be used for promotion. He also reported on a September 7
memorandum from City Attorney John Hill which stated that he had found no
requirement that 4A and 4B corporations follow the competitive bid laws which a
municipality must follow.
A motion was made by Treasurer Garcia to recommend the city council authorize
the EDC expending up to 10% or $47,000 of this year's budget to contract with
the advertising firm Zachry Associates, Inc. Bob Norris seconded the motion. All
members with the exception of Secretary Hammock voted aye. Ms. Hammock
voted no. There were no abstentions. The motion carried.
Item 2.9. Negotiations team report: The negotiation team reported that they have not heard back from the prospect.
EDC Minutes, September 8, 1999, Page 2 of 3
Item 2.10. Concerns of the Board: There was general discussion.
Item 2.11. Future agenda items: There was discussion of having a report of economic
development forum placed on the October agenda.
There being no other business, a motion was made by Secretary Hammock to adjourn.
Treasurer Garcia seconded the motion. The motion carried with all ayes. President
Gordon adjourned the meeting at 8:50 /~.,~. ~/~p.m.
Cindi Lane
Executive Secretary
EDC Minutes, September 8, 1999, Page 3 of 3