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BM 2007-06-06 EcDev COPPELL ECONOMIC DEVELOPMENT COMMITTEE JUNE 6, 2007 MINUTES The Coppell Economic Development Committee met at 6:00 p.m. on Wednesday, May 2, 2007 at Coppell Town Center, 2nd Floor Conference Room, 255 Parkway Boulevard, Coppell, Texas 75019. The following were present: Bill Rohloff, Gary Roden, Bill Lowery, Bradley Snyder, Kenneth Luttmer, Larry Kingsbury, Matt Hall, Mary Ciminelli, David Geeslin, Jason Crawford, Scarlett Hovland, Mindi Hurley, and Councilmember Marvin Franklin. Call to Order 1. Bill Rohloff called the meeting to order at 6:00 p.m. Approval of Minutes 2. It was moved by Jason Crawford and seconded by Matt Hall that the minutes of the May2, 2007 meeting be approved. The motion passed unanimously. Consideration of a Request by CIT Acquisition Corp. for a Tax Incentive 3. ? Mr. Steve Bancroft represented CIT Acquisition Corp. He shared the following information. ? The proposed project includes two speculative buildings consisting of approximately 162,350 sq. ft. of office warehouse type space. These two buildings will be located on 10.67 acres along the north side of Bethel Road and east of the proposed extension of Creekview Road. ? At this time the project is all spec, with some inquiries. CIT plans to accommodate service related companies. Warehouse product will range from telecommunications, small machinery and cabling to medical supplies and document storage. The project will have the capability to attract up to 152,000 sq. ft. of small to medium sized businesses. ? Tree mitigation cost will be discussed at a future meeting with the Parks Board. ? CIT Acquisition Corp. has plans to extend Creekview Blvd. to Bethel Rd., adding median cuts in Bethel to provide better access to the site and are considering increasing the landscaping within the Bethel median. ? The project is scheduled to break ground in August 2007. ? Discussion followed. ? It was moved by Gary Roden and seconded by Larry Kingsbury that a 5-year, 75% tax abatement be granted for CIT Acquisition Corp. The motion passed unanimously. Retail Update 4. ? Mindi presented the cumulative results for the Raymond Turco & Associates survey addressing retail issues in Coppell. ? Discussion followed. ? Mindi will email the final survey summary to the committee members as soon as she receives it. ? Mindi asked that committee members email five retail suggestions to her. General Discussion and Update on Commercial and Industrial Projects 5. ? Mindi reviewed the projects under construction and the upcoming openings of businesses. ? Hard Eight BBQ is scheduled to open on June 18, 2007. ? Project Household has not made a final decision to relocate to Coppell. ? Northlake College will have a ground breaking in the near future. ? Mindi shared details on the site plan for the Duke Lesley Addition which will be presented at the Development Review Committee on June 7, 2007. ? The Kolberg Project (The Village at Old Coppell) located along the east side of Coppell Road will be presented at the July 19, 2007 Planning and Zoning Commission meeting. ? Gary Roden and Larry Kingsbury will be participants in the Coppell 2030 Vision. ? The July 4, 2007 meeting has been cancelled and the committee will meet again on August 1, 2007. With no further business to discuss, it was moved by Gary Roden and seconded by Larry Kingsbury that the meeting adjourn. By unanimous vote, the meeting was adjourned at 7:20 p.m. Respectfully submitted, Scarlett Hovland Secretary