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HomeMy WebLinkAbout11/07/1995 MEDC MINUTES OF THE MUNICIPAL ECONOMIC DEVELOPMENT CORPORATION HELD ON NOVEMBER 7, 1995 A meeting of the Municipal Economic Development Corporation Board of Directors for the City of The Colony, Texas was called to order at 6:45 p.m. on the 7th day of November, 1995, at the Chamber of Commerce. The following persons were in attendance: Gary McClure, President David Stanwick, Vice President Jerry Sebastian, Secretary Ronnie Fischer, Treasurer Mary Watts, Executive Vice President Lori Harlan, City Staff Liaison, Director of Economic Development 1. RESPONSE OF PENINSULA GOLF TO EDC PROPOSAL Board members took the moments prior to the opening of the meeting to review the second proposal submitted by Peninsula Golf. Members expressed concern that Peninsula Golf did not directly respond to correspondence from the EDC. Based on their lack of response and seeming unwillingness to negotiate directly with the EDC, President McClure suggested that the board proceed with revenue bond funding as its first priority. However, he acknowledged the EDC's responsibility to negotiate with this group, and he indicated that should be the board's secondary consideration. Councilmember Watts stated it would be necessary to disregard everything that has happened thus far and start over in order to negotiate with Peninsula Golf. She believed they viewed the EDC's response to their initial proposal as an ultimatum. Vice President Stanwick made a motion to proceed with revenue bonds as the first priority of the EDC and to remain open to negotiation with Peninsula Golf. Secretary Sebastian seconded that motion. It was approved unanimously by board members. President McClure stated that the board needed to specify its response to Peninsula Golf. The board directed Ms. Harlan to compose a letter to request a meeting with Peninsula Golf. The purpose of the meeting is to discuss communication between the parties, address the $250,000 "right to do business fee" requested by the EDC, and determine the negotiability of their proposal. Board members expressed hope that the meeting would reestablish a level of trust between the parties. The meeting between the parties was tentatively scheduled for Friday, November 10, at 5:30 p.m. at the Chamber of Commerce. 2. APPROPRIATE REVENUE BOND ACTION Board members discussed a need to determine the steps necessary to move forward with the bond process. Ms. Harlan also reminded the board that an environmental assessment of the property will be necessary in conjunction with the bond preparation process. There was a brief discussion on how to pay for the environmental assessment, and the board instructed Ms. Harlan to research the cost of such a study. Ms. Harlan was also instructed to invite the city's financial adviser, legal counsel, and bond counsel to the next meeting of the EDC to discuss proceeding with the bond financing process. The purpose of that meeting will be to discuss a time line for future board activities. The meeting was adjourned at 8:45 p.m. Lori Harlan, Director of Economic Development MINUTES OF THE MUNICIPAL ECONOMIC DEVELOPMENT CORPORATION HELD ON DECEMBER 20, 1995 A meeting of the Municipal Economic Development Corporation Board of Directors for the City of The Colony, Texas was called to order at 7:15 p.m. on the 20th day of December, 1995, at The Colony Chamber of Commerce. The following persons were in attendance: Gary McClure, President David Stanwick, Vice President Jerry Sebastian, Secretary Ronnie Fischer, Treasurer Tommy Thompson, Executive Vice President Mary Watts, Executive Vice President John Dillard, Executive Vice President Lori Harlan, City Staff Liaison, Director of Economic Development 1. CONSIDERATION OF A PROPOSAL FROM WORTH BLAKE & ASSOCIATES FOR THE ECONOMIC DEVELOPMENT PORTION OF THE COMPREHENSIVE LAND USE PLAN Board members briefly discussed a desire to know the overall cost associated with both the economic development plan and the comprehensive land use plan. Ms. Harlan assured the board that numbers were not provided so different oversight committees would not become focused on the cost of the overall plan - or even the economic development portion. Instead, the focus should be on the usefulness of the items in the proposal and their relatedness to the overall plan. After oversight boards make a recommendation on the scope of the project, city staff will discuss price with the consultants involved in the project and then take that price request before the City Council. Board members agreed that the proposal by Worth Blake & Associates was comprehensive. Mr. Dillard made a motion to proceed working with Worth Blake & Associates to conduct the economic development portion of the comprehensive land use plan. Mr. Fischer seconded the motion, and it was unanimously approved. 2. DISCUSSION CONCERNING ONGOING NEGOTIATIONS WITH PENINSULA GOLF PARTNERS Board members expressed frustration that Peninsula Golf did not respond to their most recent correspondence. There was a feeling that Peninsula Golf once again went to a party besides the EDC - this time the city attorney - to discuss the direction in which they should proceed. Also, Mr. Andrews' Tuesday correspondence reflects that Peninsula Golf is still not willing to agree to the initial requests of the EDC. Peninsula Golf has not committed to any portion of the EDC's proposal.