HomeMy WebLinkAbout02/20/1996 MEDC
MINUTES OF THE MUNICIPAL ECONOMIC
DEVELOPMENT CORPORATION
HELD ON
FEBRUARY 20, 1996
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 20th day of February, 1996, at The
Colony Chamber of Commerce. The following persons were in attendance:
Gary McClure, President
David Stanwick, Vice President
Ronnie Fischer, Treasurer
Tommy Thompson, Executive Vice President
Mary Watts, Executive Vice President
Lori Harlan, City Staff Liaison, Director of Economic Development
1. DISCUSSION CONCERNING GOLF COURSE ENVIRONMENTAL ASSESSMENT
FIRM
President McClure reminded board members of the quote received from CURA, Inc. to complete
the environmental assessment of Wynnewood Peninsula for the golf course project. Mr. Fischer
expressed concern at continuing with the environmental assessment prior to assessing all project
financing alternatives. Board members discussed whether any significant delay would result in
postponing this decision until after the February 27th work session with financial advisers. Ms.
Harlan said that a one week delay in starting the assessment would likely simply result in a one
week addition to the assessment time frame. It does not appear at this time that that delay would
result in a delay of the entire project. However, Ms. Harlan warned that the environinental
assessment was necessary regardless of the financing direction ultimately selected by the EDC.
Even if private funds were sought once again, it would be to the EDC's benefit to have a
completed environmental assessment. This assessment will also allow the negotiation of the lease
with the Corps of Engineers.
Councilmember Watts questioned Ms. Harlan concerning private financing groups that have
contacted the EDC to express an interest in the project. She requested Ms. Harlan prepare a
summary of the entities and their level of interest in the project.
Mr. Thompson moved to postpone action on the environmental assessment until the EDC
receives further information on financing alternatives. The board agreed unanimously.
2. DISCUSSION OF DRAFT MARINA RFP
Ms. Harlan reviewed that the draft RFP was prepared using information from the Corps of
Engineers Marina Demand Study. Suggestions for revising the RFP included adding a map,
further defining the per capita income of the area, and clarifying the current demand for marina
services on the lake. Ms. Harlan will make changes and bring a final draft to the board for its
approval at the February 27th meeting.
The next meeting of the Economic Development Corporation will be Tuesday, February 27, 1996.
The meeting was adjourned at 7:15 p.m.
Lori Harlan, Director of Economic Development