HomeMy WebLinkAbout04/02/1996 MEDC
MINUTES OF THE MUNICIPAL ECONOMIC
DEVELOPMENT CORPORATION
HELD ON
APRIL 2, 1996
A meeting of the Municipal Economic Development Corporation Board of Directors for the City
of The Colony, Texas was called to order at 6:30 p.m. on the 2nd day of April, 1996, at The
Colony Chamber of Commerce. The following board members 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
Lori Harlan, City Staff Liaison, Director of Economic Development
Others in attendance included:
Tian House, Matthews Southwest
Jack Matthews, Matthews Southwest
1. GOLF COURSE FINANCING ALTERNATIVES UPDATE
President McClure asked Tim House to share the research conducted by Matthews Southwest
over previous weeks concerning private opportunities for financing the Wynnewood Peninsula
golf course project. Mr. House stated that at this point they have spoken with five groups that
have various levels of interest in the project. He and Jack Matthews provided a brief overview of
each group as an example of the interests. However, neither were comfortable in stating which
interest was the most positive or held the best potential. Matthews Southwest continues to
research the Public Improvement District concept to determine what role it might play in
obtaining financing.
Mr. House stated it would take a certain amount of time to qualify each group's interest and
determine a definite direction in which to move forward. Matthews Southwest reiterated their
interest in working with the city as partners in making certain the development is done correctly.
There needs to be a realization that this will take time. Matthews requested an additional thirty
days to research partners before coming back to the EDC with additional information. The board
agreed to this time frame and set the next meeting with Matthews Southwest for Tuesday, May 7,
1996.
2. DISCUSSION CONCERNING GOLF COURSE ENVIRONMENTAL ASSESSMENT
FIRM
Ms. Harlan stated that she had researched the board's concern that an environmental assessment
could not be completed until the final course layout was determined. John Monger with CURA
spoke with the Corps and was told that as long as the final layout does not disturb any of the
significant sites not disturbed in the layout used for the assessment, the only additional review
would be done by the Corps. This would allow the EA to go through the public comment periods
that are the most time consuming part of the assessment. Based on this information, Mr. Fischer
made a motion to proceed with the environmental assessment utilizing CURA in Dallas. Mr.
Thompson seconded the motion and it was unanimously approved.
3. SALES TAX ISSUES UPDATE
Sales tax issues will be the topic of the next meeting of the Economic Development Corporation
on Tuesday, April 16, 1996. Ms. Harlan will provide more of a working plan for determining the
board's sales tax recommendation at that meeting.
The meeting was adjourned at 8:00 p.m.
Lori Harlan, Director of Economic Development