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BM 2000-07-05 EcDevCOPPELL ECONOMIC DEVELOPMENT COMMITTEE July 5, 2000 MINUTES The Coppell Economic Development Committee met at 7:00 p.m. on Wednesday, July 5, 2000 at Coppell Town Center, 2nd Floor Conference Room, 255 Parkway Boulevard, Coppell, Texas 75019. The following were present: Bruce Bradford, Tim Brancheau, Bill Herries, Scarlett Hovland, Karen Hunt, Robert Key, Gary Roden, Bill Rohloff, Gary Sieb, Jay Thompson, and Councilmembers Marsha Tunnell and Doug Stover. Call to Order Chairman Bill Rohloff called the meeting to order at 7:00 p.m. , Approval of Minutes It was moved by Karen Hunt and seconded by Bruce Bradford that the minutes of the June 14, 2000 meeting be approved. The motion passed unanimously. Update on Freeport Exemption Participation Tim Brancheau presented update on Freeport Exemption Participation. Tim continues to follow up with phone calls to the development community that have received the certified letter and agreement. As of this date 14 agreements have been received. Discussion followed on adopting a plan for collecting the revenue shortfall that the CISD has to have in an escrow account for the Freeport Exemption. It was decided that a follow-up letter (attached) be sent to the companies that have not returned a signed agreement. The letter would stress the importance of the deadline of August 1, 2000 that was agreed upon with the CISD. Personal visits will be made to the top 5 companies that have not returned a signed agreement. The visits will be made by Bruce Bradford, Bill Rohloff, Tim Brancheau, Gary Roden, and/or Gary Sieb. It was also suggested that a meeting with the local developers be held to update them on the progress of the shortfall revenue needed for the Freeport Exemption. The committee agreed upon the plan. Update on Commercial/Industrial Projects Gary Sieb gave an update on the following projects: The Gymnastics Building site located on Denton Tap Road behind the Taco Bell building has been purchased. Zoning request by PSINet, an Internet service company that plans to build an 80,000 sq. ft. facility that will house $80 million worth of computer equipment located at 1333 Crestside Drive. Semi-Annual Report of Economic Development Committee to the City Council Gary Sieb announced that the City Council has asked that boards and commissions report to them twice a year. The Economic Development Committee will report at the council meeting on July 11, 2000. Chairman Bill Rohloff will make the presentation. Adjournment The meeting adjourned at 8:15 P.M. Respectfully submitted, Scarlett Hovland Secretary