BM 1997-07-09 EcDevCOPPELL ECONOMIC DEVELOPMENT
PARTNERSHIP
JULY 9, 1997
MINUTES
The Coppell Economic Development Partnership met at 7:00 p.m. on
Wednesday, July 9, 1997 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, Mary Ann Kellam, Isabelle Moro, Tom Morton, Pat
Murphy, Ron Pankey, Bill Rohloff, Gary Sieb, Doug Shaw, Kathryn
Stephenson, Councilmembers Chuck Sturges, Marsha Tunnell, and City
Manager Jim Witt. Also attending were Jeff Turner with Insignia
Commercial Group, Inc. and Pete Smith, City Attorney.
1. Call to Order
Ron Pankey called the meeting to order at 7:05 p.m.
2. Approval of Minutes
It was moved by Doug Shaw, seconded by Bill Rohloff that the
minutes of June 4, 1997 be approved as recorded. The motion
passed unanimously.
3. Briefing by City Attorney on evaluating tax abatement
applications
Pete Smith, City Attorney made presentation on evaluating the
City's tax abatement applications. Pete explained that
sometimes the applicant has misunderstandings concerning the
application and offered options the Partnership has concerning
the applications. The Partnership has flexibility with the
guidelines presented to the applicant. All applicants shall be
considered on a case by case basis. Pete explained that first
the applicant asks for the tax abatement, the Partnership then
makes decision on approving the tax abatement, and then it is
presented to the Council. Pete stressed the impact of the
Partnership as to their decision on tax abatements, that in
most cases the Council will respect the Partnerships decision.
Some of the stipulations that may be placed in the application
agreement could include the style of building, and quality of
the business pertaining to the landscaping, generation of job,
payroll sales tax, etc. Pete also explained the Triple Net
Lease option for third party leases. Pete reminded the
Partnership that tax abatements are for a period of five
consecutive years, however the City may delay the commencement
of the tax abatement until January 1 of the second year
following the year in which the tax abatement agreement is
executed. Positive discussion followed Pete's presentation.
The Partnership was happy to learn about the freedom of
creativity that may be used when considering tax abatements.
4. Presentation of City's Projected Tau Revenues
Ron Pankey made presentation to the Partnership with graphs
showing Commercial footage growth through the years of 1992 to
1997. Commercial growth declined until 1994 with the biggest
growth period being in 1996. He also presented graphs showing
the valuation of Residential footage through 1992 to 1997.
Ron pointed out that the greatest revenue loss is with
residential growth, emphasizing the need for Commercial
Development to bring relief to the residents, thus the need
for tax abatements. Ron also provided copies of a study on the
"Fiscal Impact By Existing Land Use and New Development for
the City of Coppell, Texas" prepared by Luis Castillo in
December of 1992. Ron would like to have a similar report
prepared showing the current fiscal impact. This study would
involve participation of the Partnership as well as input from
various City Employees. Chad Beach continued presentation with
handouts depicting taxable valuation growth comparison. Chad
projects that the revenue in 1997 will come down three to
five percent with two percent as a result of tax abatements.
Lengthy Discussion followed on how to best utilize the summary
of the City's Projected Tax Revenues. It was felt that the
Council, City, Developers and Media would benefit from such a
report. Some of the suggestions for circulation of the study
would be to start with local newspapers and publications and
local community business gatherings. It was also discussed in
circulating these projections in publications that would reach
outside of Dallas. City Manager Jim Witt will be researching
the possibility of a free lance writer to help in presenting
facts to the newspapers and magazines. It was stressed by the
Partnership that this needs to be a Business Development story
instead of a Metropolitan story. The Partnership made a
decision to present a Revenue Projection Survey to the Chamber
Luncheon on August 20, 1997. Bill Herries and Bill Rohloff
will be responsible for the communication part of the study.
Ron Pankey and Chad Beach will be putting together the numbers
for the report.
5. Consideration of Request by Insignia Commercial Group for Tau
Abatement for a second 367,000 s.f. Office/Warehouse Building
located on Airline Drive
Mr. Jeff Turner, representing Insignia Commercial Group shared
with the Partnership that Building I of their building site
plan is complete and Briggs -Weaver, the nation's largest
industrial supply distributor is leasing the space. Mr.
Turner requested tax abatement on Building II. Jeff provided
brochures on design features and benefits of the facility.
Chad Beach provided summary _of the estimated valuation of the
development. Mr. Turner stated that there were high-tech
tenants interested in leasing the space. He also stated that
the leasing agreements would be for a five to ten year term.
Discussion followed and it was moved by Doug Shaw and seconded
by Tim Brancheau that the request by Insignia Commercial Group
for tax abatement on Building II be granted. The motion
passed unanimously.
6. Preliminary Discussion of City of Regensburg (Germany)
Proposal to Establish a Trade Relationship Between the Cities
of Coppell and Regensburg
Isabelle Moro led discussion on the City of Regensburg Trade
Relationship proposal. Discussion followed with questions
that remained unanswered, as the proposal was very general in
detail. Tom Morton mentioned that MJ Designs, Kraftmade, and
Mannatech Inc. have shown an interest in the trade
relationship. Tom felt that these companies would be good
sources to gather information and questions in response to the
proposal. Ron Pankey and Tom Morton will be putting together
a response to the proposal for the Partnership's review before
the end of July.
7. Update on Current & Potential Commercial/Industrial
Developments
Gary Sieb presented to the Partnership updates on
developments indicating locations on the zoning map and with
handouts. Gary informed the Partnership that an Express Mail
Postal Service will be leasing a 116,000 sq. ft. building with
the Lincoln Properties located at the SW corner of Wrangler,
and that this will be a long term lease. MEPC has begin
construction on a 300,000 sq. ft. building located at the NW
corner of Gateview Blvd. and Royal Lane. Gary said there was
some question as to the ownership of a vacant tract South of
Vari-Lite; rumor had it that Lincoln Properties had a contract
to buy the acreage. Gary reviewed the development potential
located at McArthur and Beltline.
8. General Discussion and other Business
Tom Morton will be providing copies of an article on Tax
Abatement from the Texas Business Journal,
Gary Sieb will be viewing the Coppell Video around July 20th
and the Partnership is invited to view with him.
Mary Ann Kellam announced the Chamber Luncheon on August 20th
to be at the Las Colinas Country Club for the first public
viewing of the Video.
COPPELL ECONOMIC DEVELOPMENT PARTNERSHIP
Wednesday, July 9, 1997
Meeting Time:
Meeting Place:
7:00 p.m. (Open to the Public)
2nd Floor Conference Room
Coppell Town Center
Notice is hereby given that the Economic Development Partnership will meet in regular session
on Wednesday, July 9, 1997 at 7:00 p.m., in the 2nd Floor Conference Room at the Coppell
Town Center, 255 Parkway Boulevard, Coppell, Texas. The purpose of the meeting is to
consider the following items:
Item 1: Call to Order
Item 2: Approval of Minutes: June 4, 1997
Item 3: Briefing by City Attorney on evaluating tax abatement applications
Item 4: Presentation of City's Projected Tax Revenues (Beach)
Item 5: Consideration of Request by Insignia Commercial Group for Tax Abatement
for a second 367,000 s. f. Office/Warehouse Building located on Airline Drive
(Sieb/Beach/Moro)
Item 6: Preliminary Discussion of the City of Regensburg (Germany) Proposal to
Establish a Trade Relationship Between the Cities of Coppell and Regensburg
(Moro)
Item 7: Update on Current & Potential Commercial/Industrial Developments (Sieb)
Item 8: General Discussion and Other Business
Adjournment
CERTIFICATE
I certify that the above notice of meeting was posted at 5:00 p.m. on the bulletin board at the Town
Center of the City of Coppell, Texas, on Thursday, July 3, 1997.
S �Q
Scarlett Hovland, Senior Administrative Secretary
COPPELL ECONOMIC DEVELOPMENT PARTNERSHIP
Wednesday, July 9, 1997
Meeting Time: 7:00 p.m. (Open to the Public)
MeetingPlace: 2nd Floor Conference Room
Coppell Town Center
Notice is hereby given that the Economic Development Partnership will meet in regular session
on Wednesday, July 9, 1997 at 7:00 p.m., in the 2nd Floor Conference Room at the Coppell
Town Center, 255 Parkway Boulevard, Coppell, Texas. The purpose of the meeting is to
consider the following items:
Item 1: Call to Order
Item 2: Approval of Minutes: June 4, 1997 00'��
Item 3: Briefing by City Attorney on evaluating tax abatement applications
Item 4: Presentation of City's Projected Tax Revenues (Beach)
Item 5: Consideration of Request by Insignia Commercial Group for Tax Abatement
for a second 367,000 s.f. Office/Warehouse Building located on Airline Drive
(Sieb/Beach/Moro) L7rf
Item 6: Preliminary Discussion of the City of Regensburg (Germany) Proposal to
Establish a Trade Relationship Between the Cities of Coppell and Regensburg
(Moro)
Item 7: Update on Current & Potential Commercial/Industrial Developments (Sieb)
Item 8: General Discussion and Other Business t
Adjournment - ' "
CERTIFICATE
I certify that the above notice of meeting was posted at 5:00 p.m. on the bulletin board at the Town
Center of the City of Coppell, Texas, on Thursday, July 3, 1997.
Scarlett Hovland, Senior Administrative Secretary