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BM 2001-03-07 EcDevCOPPELL ECONOMIC DEVELOPMENT COMMITTEE March 7, 2001 MINUTES The Coppell Economic Development Committee met at 6:00 p.m. on Wednesday, March 7, 2001 at Coppell Town Center, 2nd Floor Conference Room, 255 Parkway Boulevard, Coppell, Texas 75019. The following were present: Chairman Bill Rohloff, Bruce Bradford, Jay Thompson, Dennis Onalaja, Bill Herries, Mohamed Elmougy, Councilmember Marsha Tunnell, Chad Beach, Gary Sieb, and Andrea Roy. ge o Call to Order Chairman Bill Rohloff called the meeting to order at 6:10 p.m. Approval of Minutes It was moved by Bill Herries and seconded by Dennis Onalaja that the minutes of the February 7, 2001 meeting be approved as recorded. The motion passed unanimously. Request by the Expo Group for tax abatement for a 12.085-acre site Ray Pekowski of the Expo Group and Sharon Morrison of the Staubach Company presented. The Expo Group plans to construct a two-phase office/warehouse, containing a total of approximately 167,000 square feet, at the southwest comer of Royal Lane and Gateview Boulevard. The Expo Group is the maker of trade show exhibits and the proposed building will house the company's corporate headquarters. The site plan aspect of the project is scheduled to be heard by Planning Commission at the March Meeting. Mr. Pekowski briefed the Committee on the company's operations and their involvement in and dedication to the community in which they are located. Chad Beach followed with the review of a summary of the results of the econometric model, indicating that this is a standard abatement-the Expo Group is requesting a 5-year, 75% tax abatement. The Expo Group also requested, within their application packet, that additional fees be waived. The applicant was informed that the Economic Development Committee does not have the authority to waive impact or permitting fees. It was moved by Bruce Bradford and seconded by Mohammed Elmougy that the Expo Group (Pekowski Family 1998 Trust) be granted a 5-year, 75% tax abatement. It was passed unanimously. Discussion regarding Triple Freeport Exemption. Staff informed the Committee that individual thank you letters, with a copy of the ad from the Dallas Business Journal, were sent to all Triple Freeport financial contributors. Additionally, staff passed out draft letters to be sent to the four developers who contributed to Triple Freeport, indicating that a surplus in funds had resulted. Discussion followed regarding the degree of refund which should be given back to the developers. Additionally, staff also informed the Committee that more detailed information regarding the mechanics of Triple Freeport was received from the Dallas Central Appraisal District and will be used to compile information for Coppell's website and a pamphlet for interested parties. It was moved by Bill Herries and seconded by Jay Thompson that the City rebate all unexpended funds to the four contributing developers. It was passed unanimously. Discussion regarding the City of Irving/Irving Chamber Economic Development Strategy/Coppell Impact Gary Sieb briefed the Committee on the request made by the Irving Chamber to join them in their promotion/marketing efforts with regards to telecommunication and technology in this area. A brief outline was distributed, describing Irving's newly created Centerpiece for Technology Council. Mr. Sieb mentioned that the Irving Chamber was interested in discussing Coppell's participation in this endeavor. It was decided that Staff would contact the Chamber and schedule a time for their attendance at an Economic Development Committee Meeting. 6. Update on Development within the City (Planning). Staff briefed the Committee on new development in the City. Additionally, Bill Herries distributed a handout which discusses the possibility of extending tax abatements to owner occupied developments; those who are active community members, serving on boards, etc. Discussion followed. It was decided that the members would review the proposal and discuss further at a later date. Adjournment With no further business to discuss, it was moved by Jay Thompson and seconded by Dennis Onalaja that the meeting adjourn. By unanimous vote, the meeting was adjourned at 7:45 p.m. Respectfully submitted, Andrea L. Roy