HomeMy WebLinkAbout11/18/09 EDC
CITY OF THE COLONY
DENTON COUNTY, TEXAS
NOVEMBER 18, 2009
The Regular Session of The Colony Economic Development Corporation of The Colony, Texas,
was called to order at 7:00 p.m. on the 18th day of November 2009, at City Hall, 6800 Main
Street, The Colony, Texas, with the following roll call:
Tom Tvardzik President Present
Kevin Braby Vice President Present
David Peerson Treasurer Present
David Smith Secretary Present
Femi Omonije Member at Large Present
Perry Schrag Council Liaison Absent (Business)
Keri Samford Staff Present
Cindi Lane Staff Present
Tony Johnston Interim City Manager Present
Greg Vick Interim Assistant City Manager Present
Rebecca Koo Finance Director Present
1.0 ROUTINE ANNOUNCEMENTS; RECOGNITIONS:
Call To Order: - President Tom Tvardzik called the meeting to order at 7:00 p.m.
Pledge of Allegiance to the United States Flag: - President Tvardzik led in the Pledge of
Allegiance.
Announcement of upcoming events and activities'
New Developments: Ms. Samford mentioned that she is sending weekly updates
of the EDC activity to the board that has included the weekly certificates of
occupancy. She said that the shopping center south of the southwest corner of
Main and Ridgepoint Drive/Cougar Alley that has The Cereal Bar is now almost
completely full with Gold's R Us, an insurance agency, the Midas Muffler Shop, a
television repair shop committed to lease in the center. There is also a Chicken &
Rice going into the shopping center on Main St. in the Wal-Mart parking lot. She
met earlier today with a representative of two companies, one an optical
equipment distributor, who is looking at the Cascades.
Update of ICSC Conference and Trade Show Nov. 2-4, 2009: Ms. Samford gave
an update of the tradeshow to the city council at their meeting Tuesday night.
She said that she went with Council Member Schrag and the focus was on the
1 These items are strictly public service announcements. No action will be taken and no direction will be given regarding these
items.
retail industry with emphasis on companies looking to relocate or expand in
Texas markets. There were about 2,600 attendees, which was down from last
year, and about 169 exhibitors, about 30 of those other Texas cities and
economic development agencies. They talked with many people, some new
acquaintances and some people that visit The Colony EDC booth every year.
There was a retailer roundup again this year in which retailers have a table and
provide people the opportunity to meet them, get their business card, and find
out information of what they are looking for in locations to place their stores.
Ms. Samford thanked Councilmember Schrag for his help at the show.
Update of NTCAR Stemmons Service Award Dinner November 12, 2009: Ms.
Samford explained that The Colony EDC was the Gold sponsor for this event held
last week. She said that the EDC was well represented with three of the 4A board
members, Mr. Johnston and Mr. Vick in attendance. The purpose of the event is
to give a service award for brokers who are top in their area and who give back
to the community. There was about 40% more attendees this year than last year.
It was a great networking opportunity. The Colony was recognized in the
brochure although there was a problem with the printing of the logo. We
wanted to send out photos of the attendees and their guests but the photos
unfortunately did not turn out. President Tvardzik noticed that the name tags
provided were not easy to read and did not have the company name printed on
them so he suggested that next time the board should wear our own name tags
because they look much better and are easier for people to read.
Citizen Input: David Smith of 5304 Regan Drive in The Colony had an idea he
requested the board to put on their next agenda regarding participating or
hosting a career job fair in The Colony. It could help The Colony gain recognition
from area companies and also help residents in The Colony find jobs. The job fair
could be held at the Fairfield events center which would showcase the Marriott
hotels or it could be held at a church or recreation center. President Tvardzik
asked for this item to be placed on the December agenda.
2.0 CONSENT AGENDA
2.1 Acceptance of cash flow projection report
2.2 Acceptance of monthly''/: cent sales tax graph
2.3 Acceptance of tax allocation summary for October
2.4 Marketing update, website statistics, and print advertising
2.5 Approval of the minutes of the regular board meeting October 14, 2009
Mr. Peerson asked that item 2.5 be pulled so he could abstain since he was not present
for the October meeting.
EDC Minutes November 18, 2009, Page 2
Mr. Braby made a motion to approve items 2.1 through 2.4 as presented. Mr. Smith seconded
the motion and all members voted in favor.
Mr. Braby made a motion to approve item 2.5 as presented. The motion was seconded by Mr.
Smith. The motion passed with all members voting in favor except Mr. Peerson who
abstained.
3.0 REGULAR AGENDA
3.1 Adoption of the Revised Investment Policy accepted by council October 20, 2009
(Koo): Ms. Koo reported to the board that there were minor changes made from last
year's policy and the council approved the revised policy in October. By law the 4A and
4B boards must also approve the policy. President Tvardzik asked Ms. Koo to give a brief
overview of the investment policy. Ms. Koo said that this policy falls under the Public
Funds Investment Act to protect the taxpayers and give guidance for the investor to
make the soundest investment. The main goal is the preservation of principal. Monies
invested are not supposed to be invested in anything but the safest types of
investments such as treasury bills, US agencies and other municipalities. There is to be
no investment in commodities, stocks, or speculation. There is a set of guidelines to
follow and investment must comply with the Public Funds Investment Act. The board
asked a few questions regarding yield, types of investments, and types of agencies
invested in.
Mr. Smith made a motion to adopt the Revised Investment Policy. The motion was seconded
by Mr. Peerson and all members voted in favor.
3.2 Update regarding retail marketing campaign (Samford): Ms. Samford passed around
the final proof of the marketing card. Se said that all changes the board requested at the
last meeting were made. The Colony EDC logo is prominent displayed on both sides of
the card. Austin Ranch and The Tribute logos are on the card as well. There was a teaser
included in the November utility bill and there will be another teaser in the December
utility bill. In January the cards will be inserted in the utility bill along with another
message on the bill so the residents know to look for the card before they throw it
away. There will be some bulk cards left over in the event that residents request
multiple cards to distribute. Mr. Johnston mentioned that he received favorable
comments from the mayor and a council member regarding this card.
3.3 Discussion regarding surrounding cities economic development incentives (Samford):
Ms. Samford said that President Tvardzik requested to discuss with the board a
summary of incentives offered in The Colony and surrounding cities. Ms. Samford
summarized each type of incentive, explaining what it was and how it could be used.
Questions were asked regarding some of the incentives by the board. President Tvardzik
commented that he felt that The Colony offers a pretty good menu of incentives.
EDC Minutes November 18, 2009, Page 3
4.0 EXECUTIVE AGENDA
4.1 A. Executive session pursuant to Texas Government Code Section 551.087
Deliberation regarding economic development incentive for: Project CS, Project LLM,
Project TF, Project GRI
B. Executive Session pursuant to Texas Government Code Section 551.074 (1)
regarding Personnel to Wit: Deliberate the appointment, employment, duties for
candidates for the position of an Economic Development Director
The board went into executive session at 7:52 p.m.
Reconvene to Open Session
The board reconvened from executive session at 8:44 p.m.
4.2 A. Action resulting from executive session regarding: Project CS, Project LLM, Project
TF, Project GRI
Mr. Peerson made a motion to recommend approval of the incentive agreement for Lakeland
Marketing LLC as written. Mr. Smith seconded the motion and the motion passed with
all members voting in favor.
B. Action resulting from deliberating the appointment, employment, duties for
candidates for the position of an Economic Development Director
No action was taken.
ADJOURNMENT:
President Tvardzik adjourned the meeting at 8:45 p.m.
1 N 2!L `Jnj~z L
Cindi Lane Tom vardzik
Recording Secretary President
EDC Minutes November 18, 2009, Page 4