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EDP - Minutes - 1999 .~ COPPELL ECONOMcrC DEVELOPMENT PARTNERSHIP January 6, 1999 MINUTES The Coppell Economic Development Partnership met at 7: 00 p.m. on Wednesday, January 6, 199 at Coppell Town Center, 2nd Floor Conference Room, 255 Parkway Boulevard, Coppell, Texas 75019. The following were present: Chad Beach, Tim Brancheau, Scarlett Hovland, Karen Hunt, Robert Key, Pamela Kurtzman, Isabelle Moro, Pat Murphy, Gary Roden, Bill Rohloff, Gary Sieb, and Councilmembers Doug Stover, Larry Wheeler and Jayne Peters. 1 . Call to Order Chairman Bill Rohloff called the meeting to order at 7:00 p.m. 2 . Approval of Minutes It was moved by Tim Brancheau and seconded by Gary Roden that the minutes of November 18, 1998 be approved as recorded. The motion passed unanimously. 3. Request by CFH-FTAX Limdted Partnership for Tax Abatement Mr. Richard Crow with Myers & Crow Company Ltd was present to represent CFH- FTAX Limited Partnership in requesting a tax abatement for the 117,260 sq. ft. Royal Business Center project to be located at the Southeast intersection of Royal Lane and Northpoint Drive in Coppell, Texas. Mr. Crow provided pictures of the building and described it as a single office/warehouse duplex building with rear loading, and a high ratio of parking. He hopes to lease to one tenant, but will welcome two tenants if need be. The lease term will be for a 5 - 10 year time period. This is the sixth project by Myers & Crow Company in Coppell. He said that the previous tax abatements have been critical to the success of the Coppell projects and have been instrumental in attracting new companies to Coppell. Mr. Crow departed the meeting and Chad Beach reviewed a summary of the results of the econometric model for CFH- FTAX Limited Partnership. He explained that CFH-FTAX Partnerships total taxable assets are valued at $3.5 million. Chad suggested that the Partnership consider a 50% abatement rather than a 75% abatement since the total assets did not reach the recommended $5.5 million. Chad also explained that each January 1 the taxable assets for a building are appraised by the Dallas Central Appraisal District. Discussion followed. Pamela Kurtzman offered the motion that CFH-FTAX Partnership request for tax abatement is granted based on the total taxable assets calculated each January 1. If the total taxable assets are at $0 to $3.5 million, no abatement would be granted; if the total taxable assets total $3.5 to $5.5 million, a 50% abatement be granted, and if their total taxable assets total $5.5 million or over a 75% abatement be granted. '", . 6. General Discussion and Other Business Gary Sieb gave update on development acti vi ty going on in Coppell. With no further business to discuss it was moved by Tim Brancheau and seconded by Karen Hunt that the meeting adjourn. By unarimous vote, the meeting was adjourned at 8:30 p.m. Respectfully submitted, ~~ Scarlett Hovland '... COPPELL ECONOMIC DEVELOPMENT PARTNERSHIP February 3, 1999 MINUTES The Coppell Economic Development Partnership met at 7: 00 p.m. on Wednesday, February 3, 1999 at Coppell Town Center, 2nd Floor Conference Room, 255 Parkway Boulevard, Coppell, Texas 75019. The following were present: Scarlett Hovland, Mary Ann Kellam, Pamela Kurtzman, Isabelle Moro, Pat Murphy, Gary Roden, Bill Rohloff, Gary Sieb, City Manager, Jim Witt, and Councilmembers Doug Stover, and Larry Wheeler. 1. Call to Order Chairman Bill Rohloff called the meeting to order at 7:10 p.m. 2. Approval of Minutes It was moved by Pat Murphy and seconded by Gary Roden that minutes of January 6, 1999 be approved, except that Item 3 Item 4 need to show that the motions passed unanimously. motion passed unanimously. the and The 3. Presentation of GTE Contribution Gary Sieb noted that the presentation of GTE had been postponed and will be rescheduled. 4. Discussion of COrPOrate Reorganization by MJDesigns Gary Sieb provided copies of newspaper articles about MJDesign's reorganization. The partnership expressed concerns about the possible vacancy of the MJDesign facility. MJDesign was granted 5-year tax abatement, which is still in effect for the next 2 years. Discussion followed. The partnership will continue to follow the progress of MJDesign's reorganization. 5. Update on the Impact of a Freeport Exemption City Manager, Jim Witt shared with the partnership that he had met in person with Mr. Buddy Echols, Superintendent of Coppell ISD concerning the impact of a Freeport Exemption on the Coppell ISD study by Moak, Casey & Associates, LLP. Mr. Echols understood the importance and the urgency of the issue, however the school bond issue is still first priority for the school board. Mr. Echols agreed to have the triple freeport issue on the CISD's March meeting agenda. A joint work session wi th the partnership and school board members will also be scheduled for March. Up to this point no feed back has been received from the school board on the study by Moak, Casey & Associates. It was mentioned that Ralph and Cornelia Heins with Primera Companies, Inc. addressed the issue of Freeport Tax Exemption at the January school board meeting. Bill Rohloff will keep the partnership updated as CISD moves forward with the triple freeport study. '. 6. Update on Current Commercial and Industrial Projects Isabelle Moro provided copies of a report she drafted showing non-residential construction activities in Coppell. She reviewed the report while showing the sites on the aerial map. .The partnership found the report to be very helpful. Isabelle will update the report for each meeting. Gary Sieb shared that there are 10 acres left for multi-family development, less than 300 acres for residential development, and less than 2000 acres left for industrial development. Discussion followed on the importance of retaining development in Coppell with build-out being accomplished in the near future. 7. General Discussion and Other Business Gary Sieb informed the partnership that FourSeasons will be relocating elsewhere in the metroplex. Councilman Larry Wheeler expressed a concern in the development of old town Coppell. He would like to see it kept as a historical area. Discussion followed on what financial incentives could be offered to businesses in old town Coppell. It was mentioned that the possibility of a consultant to come and offer a development plan. It was noted that the properties in old town Coppell are owned by various persons. City staff will research financial incentives offered to businesses located in the historic district cities in the Dallas/Fort Worth region. Pat Murphy provided a news article on the Dallas Hospital merger and how that may affect the proposed development of Presbyterian Hospital in Coppell. Gary Sieb shared with the partnership that the project had been put on hold for now and he will continue to keep abreast of the situation. With no further business to discuss it was moved by Mary Ann Kellam and seconded by Pat Murphy that the meeting adjourn. By unanimous vote, the meeting was adjourned at 8:30 p.m. Respectfully submitted, s<:..O..."o~ ~~ Scarlett Hovland \ \ \ " COPPELL ECONOMIC DEVELOPMENT PARTNERSHIP March 3, 1999 MINUTES The Coppell Economic Development Partnership met at 7: 00 p.m. on Wednesday, March 3, 1999 at Coppell Town Center, 2nd Floor Conference Room, 255 Parkway Boulevard, Coppell, Texas 75019. The following were present: Chad Beach, Tim Brancheau, Bill Herries, Scarlett Hovland, Karen Hunt, Mary Ann Kellam, Pamela Kurtzman, Isabelle Moro, Pat Murphy, Gary Roden, Bill Rohloff, Gary Sieb, City Manager Jim Witt, Councilmember Larry Wheeler, and visiting Councilmembers, Mayor Pro Tern Marsha Tunnell, and Jayne Peters. 1. Call to Order Chairman Bill Rohloff called the meeting to order at 7:05 p.m. 2 . Approval of Minutes It was moved by Pat Murphy and seconded by Pamela Kurtzman that the minutes of February 3, 1999 be approved as recorded. The motion passed unanimously. 3. Request by Transwestern Beltline, L.P. for Tax Abatement Gary Sieb introduced Mr. Henry Knapek with Transwestern Beltline, L.P. Mr. Knapek shared information about the project with the Partnership. The proposed office/warehouse facilities will be located at the northwest corner of Beltline Road and Lakeshore Drive. The facilities will be built in 2 phases. Phase I will consist of two buildings with a total of 240,800 square feet. Building A will contain 105,600 square feet and will have a clear height of 18 feet with dock-high loading. The building will be 70% office and 30% warehouse. Building B will contain 135,200 square feet and have a clear height of 24 feet with dock-high loading. The building will be 50% office and 50% warehouse. Construction is planned to begin in July 1999. Phase II is only in the preliminary stage of planning. The plans call for two buildings with a total of 169,600 square feet on the balance of the site, but could change depending upon market conditions. Mr. Knapek shared that the request for tax abatement is being asked for only Phase I at this time. Buildings A & B will be built in a U- shaped design with the loading docks located in the interior courtyards. Mr. Knapek said that the tax abatement would be passed on to the tenants. At this time it is unknown as to who the tenants may be. Mr. Knapek felt 'that the Triple Freeport Tax would not affect the leasing of the building because of the amount of office space that will be available on this site. Phase I building is estimated to take approximately 8 months for completion. Chad Beach followed Mr. Knapek with the review of a summary of the results of the econometric model for Transwestern Beltline, L.P. Discussion followed. Pamela Kurtzman offered the motion that the Transwestern Beltline, L.P. be granted the 75% tax abatement for Phase I, the motion was seconded by Bill Herries and it was passed unanimously. , . 4. Discussion of Joint CISD and Economdc Development Partnership Workshop on Freeport Tax Exemption Jim witt shared with the Partnership that the CISD has a workshop session scheduled on March 23, 1999 to discuss the consideration of adoption of the Freeport Tax Exemption by the CISD Board. The workshop will consist of only the CISD board. Mr. Witt encouraged as many Partnership members that are able to attend the workshop. On March 29, 1999 a regularly scheduled meeting for CISD is when the Triple Freeport Tax will be voted on. Mr. Witt expressed how important it will be to have input by the Partnership and Citizens at this meeting. Bill Rohloff will send a letter to CISD asking for extended time for citizen input at this meeting. Much discussion followed. The Partnership would like to have available a graph and/or charts showing the impact of the Freeport Tax Exemption for the businesses and the City. Chad Beach, Gary Sieb and Jim Witt will work together on designing this information. Discussion continued with the possibility of placing ads in the Citizens' Advocate and the Coppell Gazette supporting the Triple Freeport Tax Exemption. The Partnership discussed the possibility of inviting a select group of Citizens to subsidize the newspaper ads and then to also list their names in support of the Freeport Tax. It was moved by Karen Hunt and seconded by Tim Brancheau that the Partnership invite a select group of Coppell Citizens to subsidize and list their name in the newspaper ads in support of the Triple Freeport Tax. The motion passed unanimously. Jim Witt will arrange a time to meet with members of the Partnership to design the newspaper ad. 5. Update on Current Commercial and Industrial Projects Isabelle Moro provided copies of a report she drafted showing non-residential construction activities in Coppell. She reviewed the report with the Partnership. Isabelle reported on her research concerning the possibility of developing old town Coppell into a historical area. She surveyed several historical districts and provided copies of a summary showing the financial incentive programs for historic structures. Isabelle discovered that most districts had a Historic Commission to aid in the development of a historical area. At this time the City of Coppell does not have such a commission in place. Isabelle believes that should be the first step in pursuing the possibilities of a historical area for Coppell. 6. General Discussion and Other Business The Partnership discussed the need to call a special meeting before the CISD workshop and the CISD's regular scheduled meeting. It was moved by Bill Herries and seconded by Mary Ann Kellam that the Economic Development Partnership meet on Monday, March 15, 1999 and Wednesday, March 24, 1999. The motion passed unanimously. With no further business to discuss it was moved by Karen Hunt and seconded by Bill Rohloff that the meeting adjourn. By unanimous vote, the meeting was adjourned at 8:45 p.m. Respectfully submitted, 5~ Scarlett Hovland '~ COPPELL ECONOMIC DEVELOPMENT PARTNERSHIP Special Called Meeting of March 15, 1999 MINUTES The Coppell Economic Development Partnership met at 6:30 p.m. on Monday, March 15, 1999 at Coppell Town Center, 1st Floor Conference Room, 255 Parkway Boulevard, Coppell, Texas 75019. The following were present: Chad Beach, Bill Herries, Isabelle Moro, Pat Murphy, Gary Roden, Bill Rohloff, Gary Sieb, City Manager Jim Witt, Mayor Candy Sheehan, Mayor Pro Tern Marsha Tunnell, Councilmembers Jayne Peters and Larry Wheeler. A number of developers, commercial brokers and residents were in the audience. 1. Call to Order Chairman Bill Rohloff called the meeting to order at 6:45 p.m. 2. Approval of Minutes The minutes of the March 3rd meeting could not be approved because of a lack of a quorum. 3. Discussion of Imminent Vote on Freeport Tax Exemption by the CISD on March 29th Jim Witt explained the purpose of the workshop was to review the status of the ad copy to be placed in the local newspapers supporting the Triple Freeport Exemption to be considered by the CISD. A second purpose was to review the discussions city staff has had with Lynn Moak and_ Buddy Echols, the CISD Superintendent. Chad Beach briefed the Partnership that Lynn Moak had spoken with Buddy Echols and received a positive reaction from the Superintendent. He expressed the desire for the corporate sector to offset the first year revenue shortfall, as well as the 3 to 5 years debt service shortfall. Lynn Moak was under the impression that the Superintendent may be ready to advise the CISD Board to vote in favor of having CISD staff studies tp.e freeport tax exemption issue. Also, the Superintendent was likely to recommend to the board that Lynn Moak negotiate with the individual companies the donation agreements to the District to offset the impact of the revenue loss. The CISD would likely postpone the adoption of the freeport exemption until all payment agreements for the reimbursements were entered into with the individual companies. Jim Witt shared with the Partnership his conversations with Buddy Echols. Jim was told that the CISD Board would be basing their decision on the financial facts. The Partnership reviewed the ad and discussion followed with regards to the implications of running the ad in the local newspapers. The Partnership decided not to run the ad, rather to hold the ad for a later date if necessary. Jim Witt agreed to call Buddy Echols to inform him of the Partnership's decision. At 7:08 p.m. Chad Beach made a conference call to Lynn Moak. The Partnership requested that Lynn Moak provide a one-page fact sheet explaining in laymen's ----, '. terms the consequences of not offering the freeport exemption. Bill Herries asked Lynn if the vote on March 29th authorizing CISD staff into entering into payment agreements for reimbursement of the revenue loss with individual companies was done by resolution or by motion? Lynn replied that it could be done either way. Bill requested that Lynn relay to the school district that the Partnership would like to see a resolution passed. Bill expressed that developers would perceive the district was substantially "held harmless from the revenue losses" incurred by adoption of the freeport exemption. The conference call with Lynn Moak was terminated at 7:20 p.m. Discussion followed with regards to the representation at the following scheduled called meetings and workshops. The Coppell Economic Development Special Called Workshop was adjourned at 7:25 p.m. At 7:30 p.m. the Partnership convened in the City Council Chambers for a Briefing Session on Freeport Tax Exemption led by Jim Witt. Discussion followed with regards to effects of the CISD adopting the Freeport Tax Exemption. Briefing Session was adjourned at 8:20 p.m. spectfully submitted, ~ Isabelle Moro ECONOMIC DEVELOPMENT WORKSHOP WITH SCHOOL BOARD Tuesday, March 23,1999 Synopsis of Meeting Attendees: Entire school Board, Buddy, Homer, Ralph, and a couple of additional staff. Bill Harries, Bill Rohloff, Chad Beach, Pat Murphy, Mary Ann Kellum, Gary Roden, Gordon Foster, Ralph Hines and wife, Tom Morton, Bennitt Ratliff, Don Melton, Andrew McCaig, Adam Wells, Mark Myers, Gary Sieb, Ken Schulman, Jeff Turner, Lynn Moak, Leon Johnson, and 4 others At 7:02 Buddy asked Lynn Moak to begin the session by reporting on the Legislative bills that might affect the School District. Lynn gave a general overview. At 7:18 Buddy gave Lynn a nice introduction and Lynn explained the Triple Freeport concept to the School Board. He used 22 slides to make his presentation and distributed a hand out that outlined his major points. At conclusion of his report (approximately 8:20), he entertained questions from the Board. Deana Reeves had a concern regarding Table 1, and needed clarification of a point made on page 11. She also wanted to know who determined inventory values and wanted some additional information relative to sales tax generation. Robert Key asked some searching questions regarding Table 6, and offered an opinion on what it would take to gamer School Board support for this concept. He also pointed out that zoning sometimes changes and that a negative effect could occur if LI zoned land were to be rezoned for residential purposes. He cited the Deer Run project as an example of what he was talking about. Dr. Arthur asked a question regarding page 6, and there were some general statements volunteered by other School Board members. Buddy Echols had some questions regarding page 8, and expressed an interest in knowing what the ultimate plan of development might be for the industrial area of Coppell. He was also interested in what percentage of inventory Lynn used in his study (Lynn answered 43%), and generally had a supportive attitude regarding the Freeport issue. He pointed out that the School District would not support any proposal that did not cover all the lost revenue that might accrue to the District. There was some general discussion regarding Chapter 41 vs. Chapter 42 school districts, that over five years, the District could loose $2.9 million dollars without someone making up the shortfall, and that it appeared the first year shortfall would be in the area of $1.4-1.6 million dollars. At approximately 8:50 Lynn had addressed all questions, and the Board took a 10-minute break. At 9:00 Leon Johnson began his report (attached) and generally offered a favorable response to Lynn's presentation. He did offer some cautions including: Freeport exemptions are irrevocable, so proceed cautiously Weare talking about revenue for future generations Coppell will probably continue to be a "rich" district Make sure you understand outstanding debt Lynn's projections were conservative-that's good MAJOR POINT: first year short fall MAJOR POINT: debt service needs to be addressed Hold harmless definition (no loss of revenue) must be included Shift of tax obligation from one group to another not good Any contractual arrangement must be legally accountable Net out additional revenue value A lot of school bills have been introduced in the Leg.--this bothers Leon Debt service and salaries are all going up, the Board must recognize that School Board promised citizens that $1.60 was top Contractual agreements can work, if properly drafted If nobody picks up shortfall, a certain 5 cent additional tax rate Bottom Line: Put into the agreement whatever the School Board wants! Ifwe have actual growth in excess of$300 M per year, $1.60 rate will easily hold The District should consider granting this: First year shortfall is paid out (maybe a number of contracts)? Interest and sinking fund loss needs to be made up Compute net value loss If the $120 M obligation is met--then let's just go on down the road There needs to be a built-in system of certain obligation-no reneging A shift of the financial obligation from one group to another no good Need to answer the question: how much land is available for development? At conclusion of Leon's presentation there were not many questions. Buddy summarized the discussion with the following points: Who are participants to the contract? (need to be people Bd. is comfortable with) First year shortfall made up More difficult to determine the rest of the equation (interest and sinking fund) How much development will this (if granted) generate? How long will it take to make up total shortfall? It will take $120M to be made "whole" An example: 5 buildings/yr. @ $4M each times 30 buildings = $120M A contract blessed by the School District attorney must be presented before the Board will vote on this issue Maybe a third party grantor needs to be specified (the Eco. Dev. Partnership)? At conclusion of the discussion, the Board agreed to put this item on the agenda for the March 29 hearing. It was reiterated that several questions need to be addressed prior to the Board actually taking a vote on this subject, including those outlined above. The Board will not vote on this issue on March 29. It appears that the Board wants to see a contract that is "bullet proof', one that addresses the total shortfall question, they have interest in how the City might develop out, and apparently need more time to mull over this important decision. attachment L.o .W" COPPELL ECONOMIC DEVELOPMENT PARTNERSHIP Special Called Meeting Wednesday, March 24, 1999 MINUTES The Coppell Economic Development Partnership met at 7: 00 p.m. on Wednesday, March 24, 1999 at Coppell Town Center, 2nd Floor Conference Room, 255 Parkway Boulevard, Coppell, Texas 75019. The following were present: Chad Beach, Tim Brancheau, Scarlett Hovland, Bill Herries, Mary Ann Kellam, Robert Key, Pamela Kurtzman, Isabelle Moro, Pat Murphy, Gary Roden, Bill Rohloff, Gary Sieb, City Manager, Jim Witt, Councilmembers Doug Stover, Larry Wheeler, and visiting Councilmembers Jayne Peters. 1. Call to Order Chairman Bill Rohloff called the meeting to order at 7:00 p.m. 2. Discussion of Imminent Vote on Freeport Tax Exemption by the CISD on March 29th Bill Rohloff reported on the March 23rd CISD Workshop. He said Lynn Moak reviewed the study on the impact of a Freeport Tax Exemption on Coppell ISD. The school board was responsive to the study and is open to moving forward on discussions of the . study. The CISD has a regularly scheduled meeting on Monday, March 29, 1999 which will include discussion of the Freeport Tax, however a vote will not be taken at this meeting. Representatives from the business community of Coppell voiced their concern over the school board not offering a timeline or a resolution in support of the Freeport Tax. An interested tenant considering Coppell went to Grapevine after the CISD Workshop. It was a tenant that was in need of the Freeport Tax. Bill Rohloff said the main concern for CISD is the revenue protection for the school. The school needs to be assured of the first year revenue shortfall will be offset. It was mentioned that before the business community would commit to raising the amount of lost revenue, they would need to have a resolution stating CISD's commitment to the Freeport Tax Exemption. Jim witt will meet and discuss with Buddy Echols, School Superintendent about the consideration of a resolution. Jim shared a copy of a resolution that the City of Garland had written. Discussion continued with concern over the direction of development for Coppell. It was noted that if there became more of a need for office buildings versus warehouse facili ties, the Freeport Tax would need to be in place to retain the warehouse developments already located in Coppell. r ------ ~ .. A flow chart would be designed to explain to the CISD Board the framework and entities involved in the implementation of the Freeport Tax Exemption Process. Bill Rohloff will present this to the school board meeting on Monday, March 29, 1999. With no Herries adjourn. p.m. further business to discuss it was moved by Bill and seconded by Tim Brancheau that the meeting By unanimous vote, the meeting was adjourned at 8:10 Respectfully submitted, ~~~ Scarlett Hovland .. COPPELL ECONOMIC DEVELOPMENT PARTNERSHIP May 5, 1999 MINUTES' The Coppell Economic Development Partnership met at 7:00 p.m. on Wednesday, May 5, 1999 at Coppell Town Center, 2nd Floor Conference Room, 255 Parkway Boulevard, Coppell, Texas 75019. The following were present: Scarlett Hovland, Karen Hunt, Mary Ann Kellam, Pamela Kurtzman, Isabelle Moro, Pat Murphy, Gary Roden, Bill Rohloff, Gary Sieb, City Manager Jim Witt, and Councilmember Larry Wheeler. 1. Call to Order Chairman Bill Rohloff called the meeting to order at 7:15 p.m. 2 . Approval of Minutes It was moved by Karen Hunt and seconded by Mary Ann Kellam that the minutes of March 3, 1999, March 15, 1999, and March 24, 1999 be approved as recorded. The motion passed unanimously. 3. Introduction of Scott Williams to the Partnership Gary Sieb introduced Mr. Scott Williams with Rail Properties Group. Mr. Williams will be working on behalf of the business owners and developers in Coppell to raise the funds that would support the CISD's lost revenue due to the proposed Freeport Exemption. He provided copies of the proposed. initial strategy on the Coppell ISD Freeport Program. The timeline began in April and will conclude at the end of the year. This process should provide the exact amount of the 1-year M&O shortfall and the 1st year debt service loss. It should also gi ve the CISD a much better indication of the debt service impact for the next 2-5 years. 4. Update and Discussion of Freeport Tax Exempti.on Agreement with the CISD Bill Rohloff shared with the group that Mr. Scott Williams would help in moving forward with the Freeport Tax Exemption. Mr. Williams will be representing the developers and business owners. He will be scheduling meetings so that each representative for all concerned will be able to attend. Mr. Bill Rohloff is the Economic Development Partnership representative. Mr. Lynn Moak will be the representati ve for the City of Coppell. Mr. Leon Johnson will be representing the CISD. The representatives will be working together on proposing a resolution adopting Freeport Exemption. ~ . ~. 5. Update on CUrrent Commercial and' Industrial Projects Isabelle Moro provided copies of a report she drafted showing non-residential construction activities in Coppell. She reviewed the report with the Partnership. Under development review is the company Rollins Leasing Corp. This development would consist of 23,102 SF office and truck maintenance space. The location being requested is on the South side of Wrangler, between Crestside and Lakeshore Drives. There is concern over the truck traffic on Wrangler especially with the Coppell Middle School West campus nearby. Isabelle also reported on Cici's addition, which consists of a 35,000 SF office and warehouse facility to be located on the North side of Bethel Road, West of Royal Lane. 6. General Discussion and Other Business Mr. Bill Rohloff shared with the Partnership that Ms. Kay Tiller had passed away. She was Coppell' s first public relations person and promoted much of Coppell's early development. City Manager, Jim Witt shared with the Partnership that he had visited with Wick Alison from D ~gazine. They discussed the Olympic games for the year 2012. A survey showed that 60% of those polled selected Dallas as a top location site for the games in 2012. Mr. Witt brought forward the possibility of the City of Coppell being able to facilitate should the Olympic Games be held in Dallas. Discussion followed. The Partnership felt that it would be something to consider and wanted to be updated~ With no further business to discuss it was moved by Mary Ann Kellam and seconded by Pat Murphy that the meeting adjourn. By unanimous vote, the meeting was adjourned at 8:20 p.m. Respectfully submitted, ~~ Scarlett Hovland ._ .._.;......,;... )0 ,_._; ...,....;;. . COPPELL ECONOMIC DEVELOPMENT PARTNERSHIP July 7, 1999 McrNUTES The Coppell Economic Development Partnership met at 7: 00 p.m. on Wednesday, July 7, 1999 at Coppell Town Center, 2nd Floor Conference Room, 255 Parkway Boulevard, Coppell, Texas 75019. The following were present: Tim Brancheau, Scarlett Hovland, Robert Key, Isabelle Moro, Pat Murphy, Bill Rohloff, and Gary Sieb. 1. Call to Order Chairman Bill Rohloff called the meeting to order at 7:15 p.m. 2 . Approval of Minutes The minutes of the May 5th meeting could not be approved because of a lack of a quorum. 3. Update by Scott Williams in regards to the Freeport Tax Exemption Mr. Scott Williams a private consultant with Rail Properties Group, representing the landowners and developers of several industrial parks, shared information on companies located in CISD boundaries that filed for Freeport Exemption in 1999 with the Dallas Central Appraisal District (DCAD). Mr. Williams said that 31 companies filed for Freeport Exemption and only 10 remained unapproved as of the date of the July 7th report. Mr. Williams provided handouts showing comparison of approved to date total value of Freeport Exemption to Moak & Associates Estimates. The i-year revenue loss for CISD showed to be $1,335,846.00 and a 5-year loss at $2,000,000.00. Mr. Williams explained that amount could increase based on the number of additional companies being approved for Freeport Exemption. The DCAD will have a complete report of approved Freeport exemptions by July 25th, the last date to establish the Certified Tax Rolls. Mr. Chad Beach, Assistant Finance Director for the City of Coppell will contact Mr. Lynn Moak, (Moak & Associates) and Mr. Leon Johnson (Southwest Securities) with the final approved exemptions from DCAD. A letter addressed to the 31 companies that applied for the Freeport Exemption notifying them of the cooperative investigation effort by the Coppell community was reviewed and signed by Bill Rohloff. After the letters have been mailed and received by the respective companies, Mr. Williams will schedule a joint meeting with the top 10 - 15 companies to explain the possible implications of a Freeport exemption and secure a general buy-in on the fundraising effort. Mr. Williams explained to the Partnership that by the end of July he hoped to have a report on the impact Freeport exemptions will have on CISD revenues from Moak & Associates and will be made available for review by Southwest Securities. After the review, a meeting with CISD officials will be scheduled to discuss the implementation of a resolution adopting Freeport Exemption. Discussion followed. Overall, there is a positive and encouraging reaction from the developers and the CISD to continue moving forward with the Freeport Investigation. 4. Update on Current Commercial and Industrial Projects Isabelle Moro gave an update on several proj ects. McCollister's Moving & Storage located at 1303 Crestside Drive is adding 26,000 sq. ft. to their 63,000 sq. ft. building. The addition will include 21 additional truck docks. An 8 ft. screen wall will be constructed to screen the docks. The special use permit for Rollins Leasing Corp., to be located at the south side of Wrangler, between Crestside and Lakeshore Drives, was approved by the P & Z Commission, but denied by the City Council. IAAM Headquarters, located at the south side of Fritz Drive, along the north side of I. H. 635 was on the City Council Agenda for consideration on May 11th. A site plan for an 8,000 sq. ft. office building located at the Southeast corner of Denton Tap Road and Bethel Road went before City Council for consideration in July. 5. General Discussion and Other Business Mr. Bill Rohloff reminded the Partnership that an application for reappointment to the committee needed to be filled out to those whose term was up. With no further business to discuss the meeting adjourned at 8:00. Respectfully submitted, ~~~ Scarlett Hovland ,--- '" COPPELL ECONOMIC DEVELOPMENT PARTNERSHIP August 4, 1999 MINUTES The Coppell Economic Development Partnership met at 7: 00 p.m. on Wednesday, August 4, 1999 at the William T. Cozby Public Library Meeting Room at 177 Heartz Road, Coppell, Texas 75019. The following were present: Scarlett Hovland, Pamela Kurtzman, Isabelle Moro, Pat Murphy, Bill Rohloff Gary Sieb, Councilmember Doug Stover, and City Manager Jim Witt. Also present were visiting councilmember Jayne Peters and Scott Williams with Rail Properties Group. 1. Call to Order Chairman Bill Rohloff called the meeting to order at 7:15 p.m. 2. Approval of Minutes The minutes of the May 5th and the July 7th meeting could not be approved because of a lack of a quorum. 3. Update by Scott williams in regards to the Freeport Tax Exemption Mr. Scott Williams a private consultant with Rail Properties Group, representing the landowners and developers of several industrial parks, gave the partnership an update of what has and what will transpire with regards to the implementation of the Freeport Exemption. Mr. Williams held a meeting on July 29, 1999 with the Partnership and interested businesses located in Coppell. There were 7 businesses represented. The purpose of the meeting was to share information on the Freeport Tax Exemption and to help clarify some of the confusion associated with the exemption. Mr. Williams shared with the partnership the presentation he gave at the meeting. He explained that the Freeport Tax Exemption is permanent in nature once passed, it cannot be reversed by a taxing entity. He reviewed what impact the Freeport would have on the CISD. Assuming Jan. 1, 1999 as the effective date for Freeport Exemption CISD will experience a one year partial funding gap due to timing of State reimbursement and a 3-5 year debt service funding gap. CISD must be reimbursed for both shortfalls prior to passage of Freeport Exemption of which the business community is being asked to make up the shortfall. It is estimated that Coppell I Irving businesses benefiting from the Freeport Exemption will need to agree to reimburse CISD for $1.6 million first year partial funding gap and $0.7 million in debt service shortfall. There are 28 separate companies that qualify for a Freeport Exemption. 1--- -I The potential timeline for the implementation of the Freeport Tax Exemption includes the submission of a report by the City and CISD financial advisors by the end of August detailing the total CISD revenue shortfall. Also, contract commitments by Coppell/Irving businesses will have to be secured by November 1, 1999 in order for the CISD Board to consider the adoption of the Freeport Exemption in December of 1999. Discussion followed after the presentation. 4. Update on Current Commercial and Industrial Projects Isabelle Moro gave an update on several projects. A site plan for a 2,950 sq. ft. day care facility located west of Denton Tap and along the north side of Parkway Boulevard is in consideration. There is some concern with the traffic access involved with that of the High School and Walgreen's. A site plan for an 115,950 sq. ft. office/warehouse building in Freeport North located south of Creekview Drive and along the west side of Royal Lane is being reviewed. At the Park West Commerce Center, a site plan for a 290,000 sq. ft. office/warehouse to be built in two phases located along the north side of Airline Drive, west of Beltline Road is being reviewed. Ms. Moro also noted that the MJDesigns warehouse/office building is now vacant. 5. General Discussion and Other Business Discussion was brought forth on the future of Town Center offering a park-like concept, a place where the citizens of Coppell could congregate. City Manager Jim Witt shared that a similar plan was listed as part of the Bond planning. Old Town Coppell was also brought into question and Jim said that was still being discussed in hopes of moving forward. With no further business to discuss the meeting adjourned at 8:30 p.m. Respectfully submitted, 5~Ww!cu/l Scarlett Hovland ..... -- COPPELL ECONOMIC DEVELOPMENT PARTNERSHIP September 1, 1999 McrNUTES The Coppell Economic Development Partnership met at 7: 00 p.m. on Wednesday, September 1, 1999 at Coppell Town Center, 2na Floor Conference Room, 255 Parkway Boulevard, Coppell, Texas 75019. The following were present: Chad Beach, Tim Brancheau, Scarlett Hovland, Mary Ann Kellam, Pamela Kurtzman, Isabelle Moro, Pat Murphy, Gary Roden, Bill Rohloff, Gary Sieb, City Manager Jim Witt, and Councilmembers Doug Stovers, and Jayne Peters. Also present was Mr. Scott Williams with Rail Properties Group. 1. Call to Order Cnairman Bill Rohloff called the meeting to order at 7:15 p.m. 2. Approval of Minutes It was moved by Pat Murphy and seconded by Pam Kurtzman that minues of May 5th, July 7th and August 4th 1999 meetings approved as recorded. The motion passed unanimously. the be 3. Update by Scott Williams in regards to the Freeport Tax Exemption Mr. Scott Williams a private consultant with Rail Properties Group, representing the landowners and developers of several industrial parks, gave the partnership an update of what has and what will transpire with regards to the implementation of the Freeport Exemption. Mr. Williams held a second meeting on August 25, 1999 with interested businesses and developers already located in Coppell or considering Coppell for development. There were 15 development companies and 5 benefiting companies represented. The purpose of the meeting was to share information on the Freeport Tax Exemption to the development community. The developers agreed on a potential financial contribution if needed. Contract forms were provided at the meeting for review and discussion. Contract forms were also mailed to the companies not represented at the meeting. The initial exposure of a participating company is two times its 1999 Freeport tax value. A number of companies announced their relocation, which could translate to a shortfall in the potential financial contribution to the CISD that will have to be covered by the remaining companies. The final Freeport exemption values should be completed by the end of the first week in September as reported by Moak & Associates. The signed contracts are due November 1, 1999 with the initial payments due December 1, 1999. Discussion followed. Tl'te Partnership is concerned with the time-line that the school district will have the Freeport Tax passed in December. City Manager Jim Witt said he would be in contact with Robert Key and CISD Superintendent Buddy Echols to get a better understanding of the CISD's time- line in proceeding with the Freeport Tax Exemption. Mr. Williams concluded that the movement towards Freeport Tax Exemption is very favorable. 4. Request by Lam Lee Group for Tax Abatement Isabelle Moro introduced Ms. Lee and Mr. Chang with Lam Lee Group. The Lam Lee Group is proposing to build a national furniture distribution center in Coppell. The company has been in business for 19 years. They are presently located at 168 Regal Row, Dallas, Texas. The new facility, a 208,800 sq. ft. building is to be located in the Freeport North Addition along the east side Royal Lane and on the north side Cottonwood Creek. The building will house the corporate office as well as will contain approximately 180,000 sq. ft. of warehouse space. The projected number of employees at the facility is 45 with approximately 8 to 10 of those employees possibly residing in Coppell. The Lam Lee Group will be the lessee with a lease commitment of 10 years. The company stated they would be responsible for the landscaping and maintenance of the creek. Chad Beach followed with the review of a summary of the results of the econometric model for the Lam Lee Group. The Lam Lee Group is asking for a 75% tax abatement. Discussion followed. It was moved by Pam Kurtzman and seconded by Pat Murphy that the Lam Lee Group be granted as-year, 75% tax abatement. It was passed unanimously. 5. Request by Matsushita Avionics System Corporation for Tax Abatement Isabelle Moro introduced Mr. Hubly, Mr. Ramos, and Mr. Khile with Matsushita Avionics System Corp. Matsushita Avionics is proposing to lease approximately 18,480 sq. ft. of office/warehouse space at 1405 Beltline Road. Matsushita is a highly visible and respected organization in the aviation industry. The company provides support service and testing of In Flight Equipment. The corporate headquarters is located in Bothell, Washington. They are prepared to sign a five-year lease and will employ approximately 70 employees in Coppell. Discussion followed. Chad Beach followed with the review of a summary of the results of the econometric model for the Matsushi ta Avionics System Corporation. The corporation was asking for a 5-year, 75% tax abatement. Discussion followed. The estimated value of the building and FF & E is $3 million, which falls under the $5.5 million taxable assets threshold for tax abatement. Chad suggested that the Partnership could offer a 50% abatement rather than the 75% abatement. It was moved by Pat Murphy and seconded by Tim Brancheau that Matsushita Avionics Systems Corp. be granted as-year, 50% tax abatement. Pam Kurtzman amended the motion to read that if the corporation's taxable assets reach $5.5 million, then they be granted a 75% abatement on the outstanding years of the abatement agreement. Tim Brancheau seconded the motion. It was passed unanimously. 6. Discussion and Consideration of the Adoption of the Cornerstone Concept City Manager Jim Witt shared with the Partnership a proposal for Scott Williams with Rail Properties Group to be a consultant for the city's economic development marketing services. Mr. Williams would work to bring industrial and retail development to Coppell. A compensation package was reviewed. Discussion followed. The Partnership decided to continue the discussion of the proposal. It was proposed that Gary Sieb, Pam Kurtzman, Bill Rohloff, Councilmember Jayne Peters and City Manager Jim Witt meet separately to continue the discussion. Jim Witt will arrange a time for the group to meet and will report back to the Partnership. 7. update on Current Commercial and Industrial Projects Isabelle Moro reported on 5 development projects. The Planning and Zoning Commission will be reviewing a proposal for a retirement hotel by a private developer to be located on 8 acres of property at State Rd. and Sandy Lake Rd. A Tetco/Mobil convenience store and gas station with a car wash is being proposed for the southwest corner of Hwy. 121 Bypass and North MacArthur Blvd. At Freeport North Industrial Park a new 116,800 sq. ft. office/warehouse facility is being reviewed. At Coppell Town Center a Day Care Center to be located West of the intersection of Parkway Blvd. and Denton Tap Road will go to City Council for their review and consideration in October. The Planning and Zoning Commission for the second time will review a proposal for a development of 56 duplex lots at the northwest corner of Ruby Road and South Coppell Road. 8. General Discussion and Other Business Councilmember Jayne Peters brought before the Partnership appointing an alternate to the Board. The alternate would be required to attend the meetings, however he/she would only be able to vote when there is no quorum present. A bylaw change would need to be acted upon to appoint the alternate. City Manager Jim Witt will proceed with the bylaw change and bring it to the next Partnership meeting. Tim Brancheau gave an update on the Bond. A Bond tape has been produced for viewing. The Bond committee leaders will share Bond information to any group that is interested. L__ 1--- . . Isabelle Moro distributed copies of an updated Community Profile. Bill Rohloff commended Pat Murphy for his contribution and dedication to the Partnership as his term expired. Pat Murphy shared that he enjoyed being on the committee and would be staying active in other city involvement. With no further business to discuss it was moved by Tim Brancheau and seconded by Pat Murphy that the meeting adjourn. By unanimous vote, the meeting was adjourned at 8:55 p.m. Respectfully submitted, ~~ Scarlett Hovland . COPPELL ECONOMIC DEVELOPMENT PARTNERSHIP October 13, 1999 MINUTES The Coppell Economic Development Partnership met at 7: 00 p.m. on Wednesday, September 1, 1999 at Coppell Town Center, 2na Floor Conference Room, 255 Parkway Boulevard, Coppell, Texas 75019. The following were present: Chad Beach, Tim Brancheau, Bruce Bradford, Bill Herries, Scarlett Hovland, Robert Key, Pamela Kurtzman, Isabelle Moro, Stan Morton, Gary Roden, Bill Rohloff, Gary Sieb, Jay Thompson, and Councilmember Jayne Peters. 1 . Call to Order Gary Sieb called the meeting to order at 7:05 p.m. 2. Approval of Minutes It was moved by Gary Roden and s~conded by Pam Kurtzman that the minutes of the September 1st meeting be approved as recorded. The motion passed unanimously. 3. Introduction of the New Partnership Members Gary Sieb introduced and welcomed Bruce Bradford, and Jay Thompson as the new partnership members. will serve as alternate. Stan Morton, Jay Thompson 4. Review and Approval of the Economdc Development Partnership Bylaws and the Partnership Agreement Mr. Bob Hager, City Attorney was unable to attend the meeting but had available amendments to the Bylaws and Services Agreement. Discussion followed. It was noted that the number of alternates appointed by the Chamber and Council should be 1 and not 2. There were also other minor changes. Gary Sieb will notify Bob Hager of the changes. It was moved by Pamela Kurtzman and seconded by Tim Brancheau that the City Council adopt the resolution with corrections. The motion passed unanimously. After reviewing the service agreement it was noted that the amendment should read that the CISD would appoint an alternate to the Partnership. It was moved by Gary Roden and seconded by Tim Brancheau that the agreement be approved with amendment and formalized with the CISD Board. The motion passed unanimously. 5. Election of a Chairman and a Vice Chairman Bill Rohloff volunteered to accept Chairperson for another term. Bruce Bradford volunteered to act as Vice Chairperson. Tim Brancheau nominated Gary Roden to act as Vice Chairperson. Bruce decided to not run if Gary would take the position. Gary accepted the Vice Chairperson position. It was moved by Pamela Kurtzman and seconded by Tim Brancheau that Bill Rohloff be the Chairperson and Gary Roden fill the position of Vice Chairperson. The motion passed unanimously. 6. Review on CUrrent & Potential Commercial/Industrial Developments Gary Sieb reported to the partnership that GTE is in the process of asking for a zoning change. Their project will entail a 2 phase development. Phase I will consist of the development of 2 buildings. Phase II will be developed in the future. The 2 buildings will house approximately 2000 employees. A portion of the buildings are scheduled to be occupied in June 1999. Gary also reported that the Presbyterian Hospital will begin construction in late November. vari-Lite, Inc. has their property located at the northwest corner of S. Beltline & Lakeshore Drive for sale. Jim witt reported that D/FW has approached him with an interest in developing the property at the corner of Sandy Lake Rd. and Royal Lane. 7. General Discussion and Other Business Isabelle Moro reported that she had updated the community profile and fast facts. With no further business to discuss it was moved by Pat Murphy and seconded by Kathryn Stephenson that the meeting adjourn. By unanimous vote, the meeting was adjourned at 8:30 p.m. Respectfully submitted, S~ Scarlett Hovland COPPELL ECONOMIC DEVELOPMENT PARTNERSHIP November 3, 1999 McrNUTES The Coppell Economic Development Partnership met at 7: 00 r.m. on Wednesday, November 3, 1999 at Coppell Town Center, 20 Floor Conference Room, 255 Parkway Boulevard, Coppell, Texas 75019. The following were present: Tim Brancheau, Bruce Bradford, Bill Herries, Scarlett Hovland, Mary Ann Kellam, Robert Key, Isabelle Moro, Stan Morton, Gary Sieb, Jay Thompson, Councilmembers Jayne Peters and Doug stover, and City Manager Jim Witt. 1 . Call to Order Bill Herries called the meeting to order at 7:10 p.m. 2 . Approval of Minutes It was moved by Bruce Bradford and seconded by Stan Morton that the minutes of the October 13, 1999 meeting be approved as recorded. The motion passed unanimously. 3. Update by Scott Williams in regards to the Freeport Tax Exemption Scott Williams said that the Freeport Tax Exemption process has fallen behind the proposed time line set last summer. Lynn Moak and Leon Johnson with CISD had not met to go over the final finance report. The meeting was scheduled for November 4, 1999. This meeting will clarify the amount of revenue needed from the businesses and developers to makeup the shortfall of revenue for the CISD. In order for the Freeport Tax to be effective for the year 1999, signed commitments from the corporate community for payment agreements to the CISD must be in hand before CISD will vote for the Freeport Tax Exemption. There is a great possibility that the timeline is too short and the Freeport Tax Exemption may not be able to take place until the year 2000, which would mean reevaluating the shortfall of revenue for the CISD. Discussion followed. Ralph Heins with Primera and Steve Golding with Champion Partners attending the meeting voiced their concerns for the corporate community if the Freeport Exemption did not take effect for the year 1999. By not passing the Freeport Exemption for the year 1999 could cause a marketing issue. Developers and Businesses may choose to locate where Freeport Exemption is offered. It was noted that the business district is changing with less warehouse space, but with larger warehouse buildings, and that the bigger tract of land still available in Coppell would best suite that of warehouse development. Bill Rohloff, Chad Beach, and Scott Williams will be attending the meeting on Nov. 4th with Lyn Moak and Leon Johnson. ._--~ " 4 . Update on the Economdc Development Partnership Bylaws Gary Sieb shared copies of the bylaws that were amended by Mr. Bob Hager City Attorney. It was noted that the Chamber and Council would have 4 members and 1 alternate. CISD would have 1 member and 1 alternate. Gary Sieb also noted that the Economic Development Partnership would now be Economic Development Committee. 5. Review of Current Commercial and Industrial Projects Isabelle Moro reported on several development projects. Advanced Graphic Products located in the Gateway Business Park at the northwest corner of Gateway Blvd. and Exchange Circle is being considered for an 80,000 sq. ft warehouse on 6 acres. There are issues concerning parking and landscaping. A development of an 11,570 sq. ft. office/showroom facility on 1.5 acres in the Coppell Crossing Addition located at the northwest corner of MacArthur Blvd. and Beltline Road is being reviewed. The One Twenty One Business Park Site Plan located at the corner of Coppell Road and Canyon Drive is asking for an amendment to parking space and sidewalk placement. 6. General Discussion and Other Business Gary Sieb said that he would keep the committee informed of any further developments associated with the CISD and Freeport Exemption. Isabelle provided copies of an updated mailing list of the committee members. With no further business to discuss it was moved by Stan Morton and seconded by Jayne Peters that the meeting adjourn. By unanimous vote, the meeting was adjourned at 8:15 p.m. Respectfully submitted, ~CL_J ..~ Scarlett Hovland COPPELL ECONOMIC DEVELOPMENT COMMITTEE December 1, 1999 MINUTES The Coppell Economic Development Partnership met at 7:00 p.m. on Wednesday, December 1, 1999 at Coppell Town Center, 2nd Floor Conference Room, 255 Parkway Boulevard, Coppell, Texas 75019. The following were present: Tim Brancheau, Bruce Bradford, Bill Herries, Scarlett Hovland, Karen Hunt, Robert Key, Pamela Kurtzman, Gary Roden, Bill Rohloff, Gary Sieb, Jay Thompson, and CISD Superintendent Buddy Echols. 1 . Call to Order Tim Brancheau called the meeting to order at 7:05 p.m. 2 . Approval of Minutes It was moved by Bill Herries and seconded by Bruce Bradford that the minutes of the November 3, 1999 meeting be approved as recorded. The motion passed unanimously. 3 . Update by Scott Williams in regards to the Freeport Tax Exemption Scott Williams shared that he had met with Leon Johnson (CISD) and Lynn Moak to review the revised finance report prepared by Lynn Moak & Associates. Bill Rohloff and Chad Beach, city of Coppell Assistant Finance Director was also present at the meeting. The purpose of the meeting was to determine the amount of shortfall of revenue CISD would incur with the adoption of Freeport Tax Exemption. Lynn Moak presented a spreadsheet depicting the debt service shortfall. The CISD Superintendent Buddy Echols shared with the committee that there are still some concerns over the long-term effects of the Freeport Tax on the CISD. Mr. Echols raised the question as to how new property taxes would be calculated. Discussion followed. Scott williams continues to receive signed contracts from business in Coppell. Mr. Williams concluded that the movement towards Freeport Tax Exemption is very favorable. As soon as the shortfall of revenue for the CISD is determined, the Freeport Tax can be acted on by the CISD. The Freeport Tax could pass during first quarter of the year 2000. 4. Review of current commercial and Industrial Projects Isabelle Moro was unable to attend the meeting. She will report on projects at the January meeting. 5. General Discussion and Other Business It was suggested that the committee review the Abatement Agreement. There was discussion on implementing a start date and a finish date in which the abatement would be in effect. with no further business to discuss it was moved by Bill Herries and seconded by Tim Brancheau that the meeting adjourn. By unanimous vote, the meeting was adjourned at 8:00 p.m. Respectfully submitted, ~.,.~ Scarlett Hovland