BM 1990-12-05 EcDevMinutes of the
Economic and Business Development Board
December 5, 1990
The Economic and Business Development Board met in regular session
on Wednesday, December 5, 1990, at 7:30 p.m., in the Executive
Conference Room of Coppell Town Center. The following Board
members were present:
Richard Johnson, Chairman
Kim Brooks
Lee Richardson
Special Board members present were:
Jay Turner
City staff members present were:
Alan Ratliff, City Manager
City Council Liaison:
Tom Morton
Guests: Ben B. Coggins, Lou Smith Realtors
William Dearien, George McElroy & Associates
Item 1: Call to order: The meeting was called to order by
Chairman Johnson, noting a quorum was present.
Item 2: Review and Approval of Minutes: The minutes of the
November 14, 1990, meeting were reviewed. Lee Richardson
made a motion to approve the minutes; Kim Brooks seconded
the motion. The motion carried and the minutes were
approved.
Item 3: Introduction of New Board Member: Kim Brooks was
introduced as the new Board member selected to replace
Angelo Vacarro, who resigned.
Item 4: Presentation on Df FW Air Cargo by Dave Rystrgm, Manager,
Trade Development/FTZ: Dave Rystrom discussed D/FW air
cargo and his plans and strategies for attracting
industries and businesses into their free trade zone.
He also showed the video tape they use for marketing D/FW
Airport. Mr. Rystrom offered to work with the City of
Coppell if we have any industrial prospects who would
have an interest in developing a free trade zone or in
learning more about transporting freight through D/FW
Airport.
Minutes of the December 5, 1990
Economic and Business Development Board Page Two
Item 5: Consideration and Discussion of Purchase of Paperweights
and/or Other Items for Economic Development Purposes:
The City Manager displayed several Texas limestone pieces
which he had purchased and suggested that they would make
excellent gifts for economic development prospects. The
City Manager explained that two of these items would be
presented to the Danish Ambassador, Niels Lassen, and
Counselor Jorgen Gulev, of the Royal Danish Consulate
General, at a luncheon on Thursday, December 6, 1990.
The City Manager requested that the Economic and Business
Development Board approve payment of approximately $140
for these items. Richard Johnson suggested that he felt
this was an appropriate expenditure of funds. Kim Brooks
made a motion to approve, Lee Richardson seconded, and
the motion was unanimously approved.
Item 6: Funding Available for Economic Development: The City
Manager passed out a budget status report indicating a
balance of $29,807.20 in both donations and budget.
There were no questions or comments.
Item 7: Review and Discussion of Major Projects:
a. Video Production - The City Manager reviewed the
status of the Coppell video as outlined in the memo
of December 3, 1990, from Jim Ragsdill, the City's
purchasing agent. The City Manager recommended that
as soon as proposals are received, he will contact
Richard Johnson for direction as to evaluation of the
proposals. Richard Johnson suggested a briefing and
discussion with vendors as time is available. (See
attached memo.)
b. Coppell Celebrates - Lee Richardson suggested the
Board appoint a member to serve as liaison for
Coppell Celebrates. He stated that Angelo Vacarro
has indicated he would volunteer to remain as
liaison, but would like to know if the Economic and
Business Development Board would make this an
official designation. Discussion indicated the Board
favored Angelo Vacarro continuing as liaison, and
Richard Johnson stated he would contact Angelo and
ask that he continue in this capacity and make
periodic reports to the Board.
c. Goods in Transit - For the sake of the new Board
members, Richard Johnson suggested that the City
Manager send copies of the material and information
on goods in transit to Barbara Austin, Bill Rohloff,
and Kim Brooks.
Minutes of the December 5, 1990
Economic and Business Development Board Page Three
The City Manager stated that he had a conversation
with Mr. Marshall Sorokwasz, President of
TST/Impreso, Inc. (Texas Stock Tab), and they had
requested a meeting with the City Manager to discuss
the possibility of asking the City Council to grant
an exemption for goods in transit. The City Manager
will report back to the Board after this meeting
takes place.
d. Jay Turner reported on the Chamber of Commerce
community assessment effort, informing the Board
that, along with Coppell, agencies, organizations,
governmental entities, and industries will be
participants in the community assessment process (if
facilitated by Lone Star Gas Company). Lee
Richardson suggested that a copy of the Paul Dishman
community assessment be made available to Penny
Solomon and the Chamber of Commerce for comparison
purposes. He further stated he supports this project
and feels that by having new, diverse participants
in the assessment process, they might expect new
results and recommendations.
Item 8: New Business/New Projects: Jay Turner suggested that we
make a comprehensive list of businesses and industries
throughout the community by which we can contact
individuals on a regular basis for information and/or
assistance in economic development. There was general
agreement on the need for this information.
Tom Morton urged that Minyard's be contacted and invited
to attend the luncheon with the Danish Ambassador.
Richard Johnson suggested that they had felt it might not
be beneficial; however, Tom Morton stated that Minyard's
imported many products and sold them through their
stores. Richard Johnson stated he would contact Bob
Minyard and extend the invitation to him.
There being no further business, the meeting was adjourned.
Respectfully submitted,
0, 4), &060%
Alan D. Ratliff, Acting Recording Secretary for
Bill Rohloff, Recording Secretary
Economic and Business Development Board
City of Coppell
December 3 1990*
Memorandum
To: Alan D. Ratliff, City Manager
Via: Frank Trando, Deputy City Manager/Finance Director
From: Jim Ragsdill, Purchasing Agent 14Kf
Subject: Coppell Video
As requested, I have contacted (8) eight vendors and requested a written
proposal from them to produce a (10) ten minute video about Coppell per
the script by Jean Compton and specifications as supplied by Mr. Richard
Johnson.
If requested, each vendor will submit a sample video to show the type of
finished product they are offering. I have further requested that their
written proposal be submitted to my office no later than December 12, 1990.
During preliminary discussions with several of the vendors questions were
asked as to whether or not we have existing video footage of events held
this year, such as, 4th of July Parade, Christmas Parade, sporting
events, gala ball, etc. I told them I did not know but would inquire and
let them know. It was further suggested that if aerial shots were
required it would be better to do these in March or April when everything
is greener and the wildflowers are in bloom.
I am attaching a list of vendors that I have contacted and one who I have
been unable to contact.
JRR/FT/lr
attachment
VIDE0.001
Coppell Video
Page 2
1. Michael Brown
Arlington, TX
2. Ten Star Productions
Southlake, Tx
3. Sullivan Productions
Irving, TX
4. K & H Productions
Dallas, TX
5. G.T. Communications
Dallas, TX
b. Marillyn Leamon Productions
Dallas, TX
7. Pyramid Teleproductions
Dallas, TX
8. Phil Smith Productions
Dallas, TX
9. Wally Peterson (unable to contact by phone)
Coppell, TX
MEMORANDUM
DATE: December 5, 1990
TO: Alan D. Ratliff, City Manager
FROM: Frank Trando, Deputy City Manager/Finance Director
SUBJECT: Economic Development Financial Report
The financial position of funds for Economic Development at
November 30, 1990:
Donations Fund - Funds Available
General Fund - Budget $5,600.00
Expended to Date 65.00
Total Funds Available
$24,272.20
5,535.00
$29,807.20
GEORGE MCELROY S ASSOCIATES
William Deadw
AD VALOREM TAX
CONSULTANTS
214/634-8320
2777 Stemmons Frwy. • Suite 1625 • Dallas, Texas 75207
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INTERNATIONAL INTERACTIONS
r, 1990;
CITY MANAGER
November 29; 1990
Mr. Alan D. Ratliff
City Manager
City of Coppell
P.O. Box 478
Coppel!; Texas 75019
Dear Mr. Rat I i f f
It was a pleasure talking to you over the telephone a few minutes
ago and finding someone interested in international exchanges.
As we discussedi two representatives of the Danish government will
be in Texas December 4 through 7 and in Dallas December 6. They
are:
- Ambassador Niels Julius LASSEN3 Consul General of the
Royal Danish Consulate General; based in Chicago with
jurisdiction over Texas (former Danish envoy to some
African countries); and
- Mr.Jorgen GULEV) Commercial Counsellor.
They are interested in learning more about Texas and offering
Denmark as a door to the "new" Europe. Denmark is the only
Scandinavian country member of Europe '92; it is part of the Baltic
group and the East Europe coalition. As you can see in the material
I am enclosing it has one of the strongest economy in Europe and is
not faced with the labor or language problems one encounters in
most other countries. I should not say that since I am half French
and a quarter Spanish! I will leave the PR to Ambassador Lassen.
Thank you for your offer to find representatives of three or four
companies in your area who might be available to join you for a
luncheon on Thursday December by at 11:30am) guests of Ambassador
Lassen.
Please let me know their names and the companies they represents
the location you have chosen and send me some information regarding
your area] so that I can brief our foreign visitors.
I look forward to meeting you.
Sincerelyy
J
r
A-
Arlette Douffiagues
President
6124 Sherry Lane, Suite 217 - Dallas, Texas 75225
Telephones: 214/902-8013 (Dallas) & 713/522-5441 (Houston) - FAX: 214/902-8003
,P�64
November 13, 1989°
MNgrandum
To: Alan D. Ratliff, City Manager
From: Frank Trando, Deputy City Manager/Finance Director
Subject: Copper. Industrial Development Bond Issued for Minyards
Property
The following are my comments on John Bennett's letter of October 30,
1989.
After researching our files I was unable to find section 1.9 of the
Amended and Restated Reimbursement Agreement I consequently placed a
call to Mr. Bennett of Minyards Property and found out that on December
11 1985 they issued 3.6 million dollars worth of bonds. For the first
two years they only paid the interest on those bonds. On May 1, 1987
they had a surplus of funds in the amount of $200,000.00 so they
redeemed $200,000.00 worth of bonds, bringing the balance outstanding to
3.4 million dollars. On December 1, 1987 they redeemed another
$200,000.00 worth of bonds reducing the outstanding balance to 3.2
million dollars. On December 1, 1988 they redeemed another $200,000.00
worth of bonds bringing the balance down to $3,000,000.00. With this
letter of October 30, 1989 they will redeem $200,000.00 on December 1,
1989 bringing the balance down to 2.8 million dollars. Mr. Bennett will
be furnishing me with a copy of the Amended and Restated Reimbursement
Agreement, as well as a letter showing that they redeemed $200,000.00 on
May 1, 1987 which was an early redemption.
In regard to Section 3.03 of the Indentures of Trust it simply states
that they must notify the trustee not more than forty-five days but not
less than twenty days before the date of redemption. Section 9.01 of
the loan agreement also specifies date requirements that have to be
complied with.
In conclusion, it appears that this transaction is an ordinary
transaction to comply with the agreements that they entered into when
they sold the bonds.
Should you have any further questions please don't hesitate to contact
me.
FT/lr
MNYDBOND.001
9 t
MINYARD
PROPERTIES
CERTIFIED:
October 30, 1989
Coppell Industrial Development Corp.
Coppell City Hall
P. 0. Box 478
Coppell, Texas 75019
Attn: President
CitiBank N.A.
111 Wall Street, 3rd Floor, Zone 11
New York, New York 10005
Attn: Bernadette Mormilo
United States Trust Company of New York
45 Wall Street
New York, New York 10005
Attention: Corporate Trust Dept.
Municipal Business Unit
RE: Coppell Industrial Development Corporation Floating Rate
Monthly Demand Industrial Development Revenue Bonds
(Minyard Properties, Inc. Project) Series 1984
Gentlemen:
In accordance with Section 1.9 of the Amended and Restated
Reimbursement Agreement between Minyard Properties, Inc., Minyard
Food Stores, Inc., Big Tex Wholesale Grocery, Inc. and CitiBank
N.A. relating to the aforementioned bond issue Minyard Properties
hereby serves notice of its intention to redeem two hundred
thousand and no/100 dollars ($200,000.00) of outstanding bonds on
December 1, 1989. United States Trust Company is instructed to
make an "A" drawing under the terms of the Letter of Credit issued
by CitiBank N.A. in their favor for that amount.
This letter also is to satisfy our obligation of notice re-
quired for principle reduction under Section 3.03 of the Inden-
tures of Trust and Section 9.01 of the loan agreement for the
aforementioned bond issue.
Minyard Properties, Inc.
777 Freeport Parkway • P.O. Box 518 0 Coppell, Texas 75019 • (214) 393-8216 • (214) 462-8194
If you have any questions or need additional information
concerning this transaction, please do not hesitate to contact
me.
Very truly yours,
Aohn Bennett
e President, Finance
/p 1 s
cc: Mr. James Babcock
CitiCorp, USA