BM 1989-10-18 EcDevMINUTES
of the
ECONOMIIC AND BUSINESS DEVELOPMENT BOARD
October 18, 1989 Meeting
The Economic and Business Development Board met in a joint meeting
with the Industrial Development Corporation, of the City of
Coppell, on Wednesday, October 18, 1989, at 7:30 p.m. in the
Executive Conference Room of the Town center, with the following
board members present to wit:
ECONOMIC & BUSINESS INDUSTRIAL DEVELOPMENT
DEVELOPMENT BOARD CORPORATION
Lee Richardson, Chairman
David Greer
Regina Johnson
Richard Johnson
Angelo Vaccaro
GUESTS:
Alan Ratliff, City Manager
Larry Jackson, City Attorney
Mary Williams, First Southwest Company
Boyd London, First Southwest Company
Dr. Bill Stearman
Tim Loudermilk, Chairman
Barbara Austin
Jay Turner
Travis Barton
Larry Elliott
ITEM 1: Call to Order: The meeting was called to order by
Chairman Richardson, of the Economic and Business
Development Board, and Chairman Tim Loudermilk, of the
Industrial Development Corporation.
ITEM 2: Approval of Minutes - August 2, 1989 Meeting: The
minutes of the August 2, 1989, meeting were reviewed.
Angelo Vaccaro made a motion that the minutes be
approved. David Greer seconded the motion and the
minutes were approved.
ITEM 3: Introduction and Discussion of Action to Elect a
Chairperson and Vice -Chairperson: Regina Johnson made
a motion to re-elect Lee Richardson as chairman of the
Economic and Business Development Board. David Greer
seconded the motion and Richardson was unanimously re-
elected. David Greer made a motion that Angelo Vaccaro
be elected vice-chairman of the board. Richard Johnson
seconded the motion and the motion was carried. Richard
Johnson made a motion to elect Regina Johnson as
secretary to the board. Angelo Vaccaro seconded the
motion and the motion was carried.
ITEM 4: Review and Discussion of Ordinance 186-356; the Creation
of the Economic and Business Development Board: Alan
Ratliff reviewed Ordinance #86-356, which established the
creation of the Economic and Business Development Board.
Discussion was held between Mr. Ratliff and board members
concerning Section 2-3-6 of the ordinance regarding Team
Members. It was decided that this subject would be
researched by Mr. Ratliff and put on the agenda for the
next meeting of the Economic and Business Development
Board.
ITEM 5: Discussion and Consideration of Authorizing the Transfer
of Funds from the Industrial Development Corporation
Account to the City of Coppell's General Fund for
Economic Development Purposes: The Industrial
Development Board Chairman, Tim Loudermilk, stated that
their board had $7,000.00 in funds, which they were
considering transferring to the Economic and Development
Board. Representatives of First Southwest Company,
Investment Bankers, apprised board members of the laws
concerning said funds. Following lengthy discussion by
Industrial Development Corporation members, Barbara
Austin made a motion to transfer the $7,000.00 balance
of the Industrial Development Corporation funds to the
City of Coppell earmarked for the specific use of the
Economic and Business Development Board. Travis Barton
seconded the motion. The motion was carried. The vote
was as follows: BOARD MEMBERS LOUDERMILK, AUSTIN,
BARTON, AND ELLIOTT VOTED IN FAVOR OF THE MOTION. BOARD
MEMBER TURNER OPPOSED THE MOTION.
ITEM 6: Discussion of Tax Abatements: City Attorney, Larry
Jackson, reviewed an October 1989 State Property Tax
Board pamphlet outlining the current steps and procedures
for tax abatements. Mr. Jackson advised the Economics
and Business Development Board to review its tax
abatement policy guidelines and criteria with reference
to the information contained in the pamphlet.
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ITEM 7: Presentation of Status Reports on Major Projects: Dr.
Bill Stearman gave the board an update on the Texas A&M
Project. He stated that the project is still on track.
To date, $500,000 has been raised; however, $1.4 million
still needs to be raised by the end of the year. Dr.
Stearman told the board that he is presently visiting
with key economic development in the communities around
Coppell, indicating the economic development impact the
project will have on their communities.
Regarding the bicycle race, Lee Richardson stated that
he had been unable to contact Peggy Sham, but that
efforts were still being made to combine the bicycle race
in conjunction with the Rotary Club's Founders' Day.
Discussion was held concerning a new logo for the city
of Coppell, and it was decided to put this item on the
agenda for the next board meeting.
ITEM 8: Discussion of Board's Meeting Date and Time: Following
discussion, a motion was made by Angelo Vaccaro to hold
Economic and Business Development Board meetings on the
first Wednesday of every month. Regina Johnson seconded
the motion. The motion was carried.
The next regularly scheduled meeting of the board will
be Wednesday, November 1, 1989.
Angelo Vaccaro made a motion that the meeting be
adjourned. It was seconded by David Greer and there
being no further business, the meeting was adjourned.
Respectfully submitted,
Regina L. Johnson
Recording Secretary for
the Economic and Business Development Board
of the City of Coppell, Texas
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