BM 2009-08-05 EcDev
COPPELL ECONOMIC DEVELOPMENT COMMITTEE
August 5, 2009
MINUTES
The Coppell Economic Development Committee met at 6:00 p.m. on Wednesday, June 3, 2009 at Coppell Town
Center, 2nd Floor Conference Room, 255 Parkway Boulevard, Coppell, Texas 75019. The following were present:
Gary Roden, Greg Jenkins, Eric Hansen, Amanda O’Neal, Dornell Reese, Bradley Snyder, Matt Hall, Kenneth
Luttmer, Thom Hulme, Clay Phillips, Scarlett Hovland,and Mindi Hurley.
Call to Order
1.
Gary Roden called the meeting to order at 6:05 p.m.
Approval of Minutes: June 3, 2009
2.
It was moved by Kenneth Luttmer and seconded by Eric Hansen that the minutes of June 3, 2009 meeting
be approved. The motion passed unanimously.
Consideration of a request by Jet Line Products Texas, LLC for a tax incentive at the existing
3.
office/warehouse space, located at 850 Freeport Parkway, Suite 200.
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The applicant’s representative was unable to attend. In his absence, Mindi reviewed Jet Line
Products request.
rd
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The business is in the 3 year of a 5 year lease at the existing office/warehouse space, located
at 850 Freeport Parkway, Suite 200.
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Mindi advised the committee on Jet Line Products estimated taxable value:
$1,600.00 in inventory
$103,000 in BPP
$4,500,000 in sales for 2008
Projects $6,500,000 in sales for 2009
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Discussion followed concerning business retention.
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It was moved by Bradley Snyder and seconded by Eric Hansen that the City of Coppell offer
a 5 year, 20% sales tax rebate. The agreement will expire in 2019 with clawback measures
to help retain the business for 10 years. The motion passed unanimously.
Consideration of a request by West Bethel Properties LLC for a façade grant for the building
4.
located at 440 W. Bethel Rd.
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Mindi introduced Michael Lee, owner of Michael’s Wood Floor Etc.
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Mr. Lee reviewed the façade design for his business. He will try to utilize components of the
service station building located at 461 W. Bethel Rd. in his renovations.
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The project does meet the standards for construction stated within the Historic District of the
Zoning Ordinance, and the Old Coppell Design Guidelines.
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The estimated cost to the improvements is $20,000.
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Discussion followed concerning the design of the façade.
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It was moved by Kenneth Luttmer and seconded by Bradley Snyder to approve a grant to
rebate 50% of the actual costs to renovate the façade with a dollar amount not to exceed
$15,000. The motion carried (9 – 1).
Consideration of a request by Infintium Fuel Cell Systems for a tax incentive
5.
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Mindi introduced Ross Oliver, Infintium Fuel Cell Systems, Inc. representative.
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Mr. Oliver explained the Infintium Fuel Cell Systems will occupy 50,000 to 60,000 sq. ft. of
space to manufacture and produce a Hydrogen Fuel Cell System for use in electric driven
forklifts currently using lead acid battery technology. He advised that this is a start up
company; therefore, operations and values will increase after year 1.
th
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Infinitium Fuel Cell Systems will be making a decision on location during the 4 quarter of
this year.
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Infintium will bring approximately 190 jobs which include high tech, and light
manufacturing.
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Infintium has applied for a $3 million grant from the State and has no debt.
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Discussion followed.
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It was moved by Gary Roden and seconded by Bradley Snyder that a 10 year, tax abatement
and sales tax rebate be granted as follows: Years 1 – 4, 100% business personal property
abatement and 100% sales tax rebate, Years 5 - 7, 75% business personal property abatement
and 75% sales tax rebate, and Years 8 – 10, 50% business personal property abatement and
50% sales tax rebate. The motion was amended by Kenneth Luttmer and seconded by Matt
Hall that a 10 year tax abatement and sales tax rebate be granted as follows: Years 1- 5,
100% business personal property abatement and 100% sales tax rebate, Years 6 & 7, 75%
business personal property abatement and 75% sales tax rebate, Years
8 – 10, 50% business personal property abatement and 50% sales tax rebate. The motion
carried.
Consideration of a request by Concote Corporation for a tax incentive at the existing
6.
office/warehouse space, located at 600 Freeport Pkwy.
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Mindi advised that Concote will occupy 150,000 sq. ft. of the existing office/warehouse space
located at 600 Freeport Pkwy to relocate their corporate headquarters.
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Concote is a custom fabricator of foam goods, synthetic rubber products, foils, fiberglass,
plastics and other flexible and semi-rigid composite materials for the electronics, computer,
defense, aerospace and appliance industry, as well as a variety of regional and local
businesses.
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Concote will be leasing the building and will employ approximately 163 employees.
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The Furniture, Fixtures, and Equipment (FE&E) value is approximately $4,000,000,
inventory value approximately $2,250,000, and estimated sales subject to tax is
approximately $10,000,000.
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The abatement request is for the FE&E located at this site only.
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Discussion followed.
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It was moved by Bradley Snyder and seconded by Dornell Reese that a 5 year, 75%
abatement be granted. The motion carried.
Project Power
7.
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Mindi advised that Project Power, a plastics manufacturing project, has identified a
building located at 921 W. Bethel Rd.
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Project Power is asking for a preliminary incentive for their operation.
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The manufacturing facility would create about 100 jobs to start and is projected to reach
around 300 jobs.
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Business Personal Property will be $10 to $20 million minimum. Inventory is over $20
million annually but most of that will leave Texas within 175 days. Additional real
property investment will be $1 to $2 million initially.
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Discussion followed.
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It was moved by Eric Hansen and seconded by Kenneth Luttmer that a 5 year, 75%
FE&E abatement be granted. The motion carried.
Red Team Update
8.
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Mindi advised the committee on the Red Team Projects that were discussed at a meeting
in July.
Board Applications
9.
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Mindi advised that 22 applicants will be interviewed on Mon., August 10 for the 4
member terms that will end Sept. 2009.
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The new members will be announced in September and will begin their term on
October 1, 2009.
Chamber of Commerce Update
10.
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Thom Hulme advised that the Coppell Chamber will be hosting the Directors Chamber
Convention in 2011 and planning has begun. This is an opportunity for exposure.
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Thom shared the Chamber and Coppell Community Development Foundation will host
the annual Teacher Breakfast on August 11 at Coppell Middle School West. A total of
250 new teachers will join the CISD.
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Thom announced that the Chamber Golf Tournament will be held on October 12 at
Cowboys Golf Club.
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Thom advised that the chamber is seeing an increase of membership retention.
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Thom shared that the New Tech High School is interested in any businesses who may be
interested in job shadowing for their students.
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School District Update
11.
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No school report.
General Discussion and Update on Commercial and Industrial Projects
12.
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Mindi reviewed projects under construction and businesses that are now open or opening
soon.
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Mindi shared that American Home Mortgage call center at 1421 Belt Line, Suite #300
has opened.
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Mindi advised that the Chili’s Too vacant space will be occupied by a restaurant.
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Mindi reviewed the status of Sprouts Family Market, Market Street, and the Manara
Charter School.
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Mindi advised that a Holiday Inn Hotel & Suites has brought forth a concept plan for a
six-story, 128-room development to be located on the south side of Northpoint Drive,
east of S. H. 121.
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Mindi advised that the Coppell Old Town plan will be presented at the City Council
meeting on August 11.
With no further business to discuss, it was moved by Kenneth Luttmer and seconded by Bradley Snyder
that the meeting adjourn. By unanimous vote, the meeting was adjourned at 9:05 p.m.
Respectfully submitted,
Scarlett Hovland
Secretary