HomeMy WebLinkAbout12/13/1994 MEDC
MINUTES OF THE MUNICIPAL ECONOMIC
DEVELOPMENT CORPORATION
HELD ON
DECEMBER 13, 1994
The first meeting of the Municipal Economic Development Corporation Board of
Directors for the City of The Colony, Texas was called to order at 8:05 p.m. on the
13th day of December, 1994, at the Chamber of Commerce. The following
persons were in attendance.
John Dillard, Councilman
Jeff Cunningham, Member
Tommy Thompson, Member
Cary McClure, Member
Jerry Sebastian, Member
Dean Kindy, Member
Johnny Smith, City Manager
Lori Harlan, Staff Liaison, Economic Development Coordinator
Councilman Dillard served as Chairman and asked each one present to
introduce themselves. Mr. Toby Pollard, Councilman, arrived at 8:20 p.m.
L PURPOSE OF THE CORPORATION
Councilman Dillard gave a brief background of the Corporation and
explained the difference between this Economic Development Corporation and the
pre-existing EDC. The current focus of the Corporation is the Wynnewood
Peninsula Golf Course. Johnny Smith explained the financing of the golf course to
the board and announced that the Bond Counsel on the project will attend a
Corporation meeting in January to further explain the bond process and answer
any questions.
The group then discussed the opportunity for a half-cent sales tax dedicated
to economic development in The Colony. Councilman Dillard explained that this
Corporation was incorporated under Section 413 of the Development Corporation
Act and can therefore promote a wide variety of projects to be funded by the half-
cent sales tax. The group discussed the importance of establishing potential
projects which meet community needs before the sales tax is proposed to the
voters.
2. ELECTION OF OFFICERS
After group members expressed their areas of interest, nominations were
accepted and the following officers elected by acclamation:
President: Dean Kindy
Vice-President: Jerry Sebastian
Secretary: Jeff Cunningham
Treasurer: Gary McClure
The remaining members of the corporation - Councilman Dillard, Councilman
Pollard, and Tommy Thompson - were designated at Executive Vice-Presidents.
3. FUTURE GOALS OF THE CORPORATION
Lori Harlan called the group's attention to a set of initial goals and
objectives provided in their packet designed to provide a basis for future
brainstorming. A joint meeting with other community groups such as the Chamber
of Commerce and The Colony 2000 was suggested to coordinate community
economic development goals.
The group questioned the budget which is available for educational material and
other supplies. Johnny Smith said he would ask the City Council to allow funds
which were designated for the other EDC to be used for this Corporation as well.
Jeff Cunningham and Lori Harlan will provide information to the group which
explains bond funding before the meeting with the Bond Counsel. Johnny Smith
will provide all information available on Wynnewood Peninsula Golf Course
including the initial drawings created by Champions.
The next meeting will be held January 3, 1995, at the Chamber of Commerce
building at 7:00 p.m.
The meeting was adjourned at 9:35 p.m.
Respectfully submitted,
6~ JA~~
Lori H lan, ED Coordinator