HomeMy WebLinkAbout08/15/1995 MEDC
MINUTES OF THE MUNICIPAL ECONOMIC
DEVELOPMENT CORPORATION
HELD ON
AUGUST 15, 1995
A meeting of the Municipal Economic Development Corporation Board of Directors for the City
of The Colony, Texas was called to order at 6:40 p.m. on the 1. 5th day of August, 1995, at the
Chamber of Commerce. The following persons were in attendance:
Gary McClure, President
David Stanwick, Vice President
Jerry Sebastian, Secretary
Ronald Fischer, Treasurer
Tommy Thompson, Executive Vice President
Mary Watts, Executive Vice President
Lori Harlan, City Staff Liaison, Director of Economic Development
1. DISCUSSION OF HALF-CENT SALES TAX OPTIONS
Mr. McClure opened the meeting by reminding the board that the purpose of this meeting is to
further discuss ideas on the half-cent sales tax. The EDC will ultimately present sales tax options
to the City Council and ask for their direction in proceeding with this project.
Ms. Watts shared comments from a recent economic development sales tax workshop she
attended. The presenter at this meeting pointed out the importance of the involvement of the
Chamber of Commerce in the economic development process. He also stated that the sales tax
should be promoted by local business owners if possible instead of individuals tied to the city, i.e.
Mayor, Council, and city staff. Ms. Watts also stated that the half-cent sales tax is a draw for
prospective businesses. It is a way for a city to say they are interested in and prepared for
development.
A short discussion centered on community needs including vacant building space for prospective
businesses. Infrastructure needs of the city were also discussed. Mr. Stanwick stated his concern
that the EDC was uncertain of its role in the future of the city. He cited the lack of a common
vision for the future. Ms. Watts asked board members to share their vision of The Colony. A
variety of issues were discussed including the city as a location for warehouse facilities, the need
for manufacturing type entities that export a good produced in the city to other locations, and the
city's potential as a destination for business and personal travel concentrated on Lewisville Lake.
Board members pointed out the developer's interest in Lewisville Lake as a unique selling point
for The Colony at the recent economic development work session. After a lengthy discussion,
board members provided one idea for sales tax consideration: to pursue a half-cent sales tax to be
used to encourage the development of The Colony as a destination city focusing activities on
Lewisville Lake.
Mr. McClure suggested that the next time we meet to discuss the sales tax we set this idea aside
and discuss other issues that were raised throughout the meeting to determine additional ideas for
the Council's consideration.
The meeting was adjourned at 8:35 p.m.
Respectfully submitted,
Je ebastian, Secretary