Loading...
BM 2008-05-07 EcDev COPPELL ECONOMIC DEVELOPMENT COMMITTEE May 7, 2008 MINUTES The Coppell Economic Development Committee met at 6:00 p.m. on Wednesday, May 7, 2008 at Coppell Town Center, 2nd Floor Conference Room, 255 Parkway Boulevard, Coppell, Texas 75019. The following were present: Gary Roden, Bill Lowery, Amanda O’Neal, Dornell Reese, Matt Hall, Bradley Snyder, Kenneth Luttmer, Scarlett Hovland, Mindi Hurley, Deputy City Manager Clay Phillips and Councilmembers Brianna Hinojosa-Flores and Marvin Franklin. Call to Order 1. Gary Roden called the meeting to order at 6:05 p.m. Approval of Minutes: April 2, 2008 2. It was moved by Bradley Snyder and seconded by Matt Hall that the minutes of the April 2, 2008 meeting be approved. The motion passed unanimously. Consideration of a request by PRADA+Kulich & Associates, Inc. for a tax incentive for one 3. (1) building consisting of approximately 3,620 sq. ft. of space for office space on 9,000 sq. ft. of property of Lots 1 & 2, Block A of Oroza Office Addition, located at 528 S. Coppell Road, Coppell, Texas. ? Mindi explained that PRADA+Kulich & Associates are a design firm located in Irving. They are interested in locating to Coppell at 528 S.Coppell Road. ? Mindi displayed the design plan for the building. The project is consistent with the comprehensive plan of Old Coppell. The Planning & Zoning Committee has approved the building exhibits. ? Mindi reviewed PRADA+Kulich & Associates’ application for tax abatement. The project meets the tax abatement requirements. ? Discussion followed. ? It was moved by Amanda O’Neal and seconded by Ken Luttmer that a 5-year, 75% abatement be granted for PRADA+Kulich & Associates. The motion passed unanimously. ? Project Health 4. ? Mindi Hurley explained that Project Health is a managed behavioral health care company. ? Project Health is currently located in Fort Worth, Texas. The project is currently looking at Duke’s office buildings in Point West and Transwestern’s office buildings in Gateway Business Park. Project Health is also considering locations in Irving, Fort Worth, and Lewisville. ? Project Health is looking for 150,000 – 200,000 sq. ft. of office space and will be signing a 10 – 12 year lease. The project will have anywhere from 1,000 – 2,000 jobs. They will have a minimum of $10,000,000 in business personal property. ? Project Health would like an incentive agreement that lasts longer than 5 years. ? Discussion followed. ? The following incentive was recommended by the committee. 1. The first 5-year’s abatement be offered at 85% contingent on a minimum of $10,-000,000 in business personal property. 2. The second 5-year’s abatement be offered at 50% contingent on a minimum of 1500 employees by year 6 through year 10. ? Mindi will offer the incentive to Project Health and will report to the committee the status of their decision. Discussion of Incentives 5. ? Mindi reviewed the incentive discussion between the committee and the developers that took place at the April meeting. ? Methods of keeping open commnication between the city and the developer / tenant regarding the progression of the Stream-lines Sales Tax was disussed. ? No amendments have been made to the incentive policy at this time. General Discussion and Update on Commercial and Industrial Projects 6. ? Mindi reported that she has been making contacts with various sales tax producing companies. ? Mindi reported that the Callejo property is under contract. ? Mindi reported that funding is being discussed for the extension of Freeport Pkwy. ? Mindi shared that she has a meeting scheduled with Mr. Walker on May 18. ? Mindi shared that a retail redevelopment company is interested in working with Coppell. ? Mindi reported that the Coppell City Center sold. ? Mindi reviewed projects under construction and businesses that are now open or opening soon. ? Clay Phillips reported on the Carter Crowley property. ? Matt Hall reported on the Farmers Market With no further business to discuss, it was moved by Matt Hall and seconded by Bill Lowery that the meeting adjourn. By unanimous vote, the meeting was adjourned at 7:25 p.m. Respectfully submitted, Scarlett Hovland Secretary