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BM 2013-06-06 EcDev COPPELL ECONOMIC DEVELOPMENT COMMITTEE June 6, 2013 MINUTES The Coppell Economic Development Committee met at 6:00 p.m. on Wednesday, June 6, 2013, at Coppell Town Center, Second Floor Conference Room, 255 Parkway Boulevard, Coppell, Texas, 75019. The following were present: Bill Rohloff, Chairperson; Don Carroll, Vice Chairperson; Scott Spray; Sue Bird; Aaron Straach; Jim Walker; Jeff Varnell; Davin Bernstein; Mindi Hurley; and Amy Swaim. Call to Order 1. Chairperson Rohloff called the meeting to order at 6:00 p.m. Approval of Minutes: May 1, 2013 2. Motion by Jeff Varnell, second by Jim Walker, to approve the May 1, 2013, minutes as presented. The motion passed unanimously. EXECUTIVE SESSION (Closed to the public) Convene Executive Session 3. A. Section 551.087, Texas Government Code – Economic Development Negotiations 1. Economic Development prospects north of Bethel Road and east of Freeport Parkway Chairperson Rohloff convened into Executive Session at 6:03 p.m. as under the above-stated article. Item 1 (above) was discussed. Chairperson Rohloff recessed the Executive Session at 6:16 p.m. and re-opened the Regular Session. REGULAR SESSION (Open to public) Committee Survey 4. Mindi asked the Committee to complete a survey regarding their feelings related to the responsibilities and expectations of the Economic Development Committee. Along with asking for honest feedback, she informed the Committee the surveys would be sent out around Friday, June 7, and asked they be returned by the end of June. Incentive Policy Discussion 5. Mindi summarized the current Incentive Policy. Mindi reminded the Committee that the Incentive Policy contains separate cases for retail versus restaurant. The Committee discussed thresholds for restaurant incentives and determined $250,000 was not worth the time and effort. However, some restaurants were unable to meet the $750,000 threshold in the past. Davin suggested including a proactive statement about considering grants that fit the need without meeting the threshold. Jim stated a development incentive could be more than a sales tax rebate. He indicated his only concern about going too low is the infrastructure required by the City would not be worth the money; however, he pointed out a $3,000 façade grant could be a more compelling incentive for some businesses. The Committee agreed that façade grants for existing businesses should have a project cost no less than $3,000 and that the total amount awarded should be capped at $25,000. Regarding incentives for new development, the Committee discussed encouraging diverse, unique businesses. They suggested lowering the threshold to $250,000; forgiveness in one year if threshold is not met; and leave terms open. Mindi addressed the issue of special interest loans for tenant improvements. She stated that many incentives benefit property owners but not tenants. After discussion, the Committee suggested eliminating tenant improvements from the Incentive Policy. The Committee agreed to table the remaining Incentive Policy discussion until the August 7, 2013, EDC meeting. General Discussion and Update on Commercial and Industrial Projects 6. Mindi discussed various projects and where they are in the development process. Mindi reminded the Committee that they would not meet in July. She stated the next EDC meeting is scheduled for Wednesday, August 7. ADJOURNMENT Motion by Sue Bird, second by Jeff Varnell, to adjourn the meeting at 8:31 p.m. The motion passed unanimously.