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HomeMy WebLinkAbout06/11/08 EDC MINUTES THE COLONY ECONOMIC DEVELOPMENT CORPORATION REGULAR BOARD MEETING CITY HALL CONFERENCE ROOM JUNE 11, 2008 The Regular Session of The Colony Economic Development Corporation of the City of The Colony. Texas. was called to order at 7:00 p.m. on the 11 th day of June 2008, at the City Hall conference room with the following roll call: Board Members: Bob Norris. President Rick Casterline. Vice President Paul Koenig, Secretary Tom Tvardzik, Treasurer Kevin Braby. Member at Large Present (arrived at 7:46 p.m.) Present Present Present (arrived at 7:02 p.m.) Present Staff Members Present: Tom Terrall, Director of Economic Development Cindi Lane, Economic Development Specialist Council Liaison: Perry Schrag Absent With three voting members present at 7:00 p.m.. a quorum was established and the following items were addressed: Item 1.1. Pledge of Allegiance: Vice President Rick Casterline led in the Pledge of Allegiance. 2.0. CONSENT AGENDA Item 2.1. Reports: a. Cash flow projection b. Monthly Yz Cent Sales Tax graph c. Tax Allocation Summary for May d. Summary of current activity regarding development e. Marketing update f. ICSC Las Vegas update g. Appointment of 4A liaison from council (a) Mr. Terrall said that there were no new expenditures to go over and that the sales tax revenue was approximately $42.000 over projection for this fiscal year. (b) The graph shows that the 4A sales tax continues to have higher revenue than in the past three years and he hopes it continues. (c) The allocation summary reports that The Colony sales tax is approximately 2% higher than May last year and about 6% higher for the calendar year. (d) Mr. Terrall said that according to the Director of Development Services there were no new developments for public announcement since the last meeting. DBSI Development has begun to move the drainage ditch at their site. ( e) Ms. Lane reported the website statistics. Mr. Tvardzik asked Ms. Lane if she could graph website hits corresponding with events that the EDC participates in to see if there is any kind of spike as a way to measure website activity going back a year to about 18 months. She said she would make one. The board brought up their desire to have a way to know who and what businesses are accessing the EDC website and suggested that staff look into the Leadlander.com to see if some kind of promotion could be done to have website visitors click on a chance for a monthly give-a-way to obtain their phone number and email address. or check with www.leadlander.com to see if the EDC can get access to who is viewing the site. Ms. Lane said she would find out. She also mentioned that the homepage was changed to improve the look. She showed the board an article that was published in a recent Dallas Business Journal publication regarding the DBSI retail development. She mentioned that since four events are coming up where give-a-ways will be needed she has begun researching for new give-a-ways. (f) Mr. Terrall reported that the overall attendance at the ICSC trades how was just under last year's 50,000 attendees. There were about 1,500 exhibitors and of those, there were more developers and fewer retailers this year. There were nine scheduled appointments and some cold calls turned into appointments. He has three developers who are coming to Texas in the next few months and may come to The Colony. He and Ms. Lane are working on follow up letters and packets and plan to follow up with approximately 55-60 companies totaL (g) Mr. Terrall said that at the most recent council meeting Perry Schrag was reappointed as the 4A liaison. His teaching schedule will terminate in December so he will become more available to attend the 4A meetings starting January 2009. Mr. Terrall assured the board that even .. though Councilmember Schrag hasn't been able to attend recent meetings, they have met once every month or two to keep Councilmember Schrag informed of the current activities of the EDC. 2.2. Approval of the minutes of the regular board meeting May 14, 2008: Vice president Casterline asked if there were any corrections, changes or additions that anyone would like to make. Paul Koenig made a motion to approve the minutes as presented. Tom Tvardzik seconded and the motion carried with all members voting in favor. 3.0 PUBLIC COMMENTS Item 3.1 Public Input: There was no public input. EDC Minutes June 11.2008. Page:2 4.0 REGULAR AGENDA Item 4.1. Discussion of possible re-allocation of 4A sales tax: Mr. Terrall said he wanted to make the 4A board aware that during the last council work session there was an item on the agenda entitled "Decision Issues." One decision the council wanted to make was whether or not to vote at a later council meeting to put the reallocation of 4A sales tax on a future ballot. Councilmember Connelly said in the work session that he would like to look at the possibility of sales tax reallocation during the next budget session and look at the numbers to see if it would he feasible to have the sales tax redistributed so that a portion would go into the general fund and the percentage could vary from 1/8. 111. 3/8 or Y2 of the 4A revenue. The council will look at it and if they decide to move forward with it than they would vote at a regular council meeting to take it to the citizens for a vote. Mr. TerraIl said that he would like to find out if the majority of council would or would not be in favor of having this issue put on a hallot. The board discussed this issue and decided to contact their council representatives for discussion with them of this item. Mr. Tvardzik said because of the way the ballot must he presented to the voters, it would be possible for the voters to abolish the 4A sales tax and then also vote to not reallocate it to another fund. which would take the 4A sales tax away but also not be reaIlocated anywhere else in the city. Mr. Koenig pointed out that the voters have already voted. that is how the 4A sales tax revenue was initiated. Item 4.2. Discussion of dates to hold orientation meeting of board and city council members: Mr. TerraIl reminded the board that in the May meeting there was discussion of the new board/council members orientation but he or Ms. Lane had not heard back from the board of date availability. The board discussed possible dates and then decided the most available date for them was June 21 st. Ms. Lane will send an email out to the mayor and council members to find out if they are available then or what other dates may work. Item 4.3. Discussion of Memorial Drive median cut follow up: Mr. Terrall said he has talked again with the manager of Wal-Mart and that the manager had contacted the corporate headquarters to get guidance. A Wal-Mart corporate engineer would like to come to The Colony to evaluate the situation. Vice President Casterline said that if Wal-Mart does not contact The Colony within a reasonable period of time he would like to see the City move ahead with the median cut. Mr. Terrall said that it is up to the City to decide whether or not to move forward with this project so he will talk to the city manager. Item 4.4. Discussion of 4A board attendance at The Colony Community Development Corporation work session meeting June 17, 2008 regarding community development master plan: Mr. Terrall said there is information in the packet explaining the upcoming 4B meeting regarding their master plan and that Pam Nelson wanted to send a personal invitation for the 4A board to come an EDC Minutes June] 1.2008. Page 3 give their input on June 17th starting at 6:00 p.m. City Secretary Christie Wilson has taken care of the posting in the event of a quorum. EXECUTIVE SESSION 5.1. The Economic Development Corporation shall convene into closed executive session pursuant to Section 551.087 of the TEXAS GOVERNMENT CODE to deliberate a financial or other incentive to business prospect to locate, stay, or expand in The City of The Colony: The board did not have an executive session. 5.2. Any action to be taken as a result of executive session regarding financial or other incentive to business prospect: No action was taken. Vice President Casterline adjourned the 4A board at 8:02 p.m. . 6)~\c!o~ -~~?C:i_~ ClI1dl Lane ' Kick CasterlIne Economic Development Specialist Vice President EDC Minutes June 11. 2008, Page 4