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BM 2001-05-02 EcDevCOPPELL ECONOMIC DEVELOPMENT COMMITTEE May 2, 2001 MINUTES The Coppell Economic Development Committee met at 6:00 p.m. on Wednesday, May 2, 2001 at Mannatech Inc., Conference Room, 600 S. Royal Lane, Suite 200, Coppell, Texas 75019. The following were present: Chairman Bill Rohloff, Gary Roden, Bruce Bradford, Dennis Onalaja, Tim Brancheau, Karen Hunt, Mary Ann Kellam, Councilmember Marsha Tunnell, Chad Beach, Gary Sieb, and Andrea Roy. Presentation by Mannatech Staff Mr. Michael Lemay, Facilities Manager of Mannatech Incorporated, introduced the Committee to Mannatech's operations, showing a video of the company's products and answering questions from committee members. A tour of the facility was given, showing the facility's office, research and development, and recreational/activity areas. Call to Order Chairman Bill Rohloff called the meeting to order at 7:00 p.m. o Approval of Minutes It was moved by Bruce Bradford and seconded by Karen Hunt that the minutes of the March 7, 2001 meeting (No meeting was held in April) be approved as recorded. The motion passed unanimously. ° Request by CMC Commercial Realty Group for tax abatement for an 8-acre site Jim Hancock of the CMC Commercial Realty Group presented. The applicant is requesting tax abatement approval for an 88,170-sq. ft. building, with an estimated value of $8 million. Mr. Hancock also briefed the committee on the design and layout of the building, indicating that the site has been designed to provide for a 100% office use to occupy the building, but also provides areas that could easily be converted to loading areas, if needed. The applicant indicated that there is no proposed tenant at this time, but that they envision a call center type of use at this location, because of the level of parking provided. The Committee expressed some concerns relating to the possible use and the level of parking. Discussion followed regarding the discrepancy between the number of parking spaces provided per the site plan (465 spaces) and the number indicated on the brochure (6 spaces per 1,000 sq. ft.= 528). The Committee encouraged the applicant to take another look at the numbers and ensure that adequate parking is provided if a call center use chose to locate in this building. Chad Beach followed with the review of a summary of the results of the econometric model, indicating that CMC Commercial Realty Group is requesting a standard 5-year, 75 % tax abatement. It was moved by Karen Hunt and seconded by Tim Brancheau that the CMC Commercial be granted a 5-year, 75% tax abatement. It was passed unanimously. ° Request by CP-Coppell Industrial (Champion Partners) for tax abatement for a 30- acre site. Kerry Burden and Michelle Wheeler of Champion Partners presented. The applicant is requesting tax abatement approval for a 600,000-950,000 square foot speculative warehouse/distribution building within the Tradepoint Industrial Park. This building is the first to be constructed in the park. The applicant has indicated that although the building is speculative at this time, it is highly anticipated that a full warehouse use will 1 occupy a large portion of the building. The applicant has provided estimates on the number of employees and salaries based on surrounding similar sites, targeting a warehouse with approximately a total of 50-60 employees. The applicant has also estimated that the value of the building is approximately $9 million, with an additional $2.50-$3.00 per square foot for tenant improvements. Chad Beach followed with the review of a summary of the results of the econometric model, indicating that CP-Coppell Industrial (Champion Partners) is requesting a standard 5-year, 75% tax abatement. It was moved by Bruce Bradford and seconded by Karen Hunt that CP-Coppell Industrial (Champion Partners) be granted a 5-year, 75% tax abatement. It was passed unanimously. o Discussion regarding Triple Freeport Exemption. Staff informed the Committee that letters, accompanied by a full refund were sent to the four contributing developers. Chairman Rohloff and Tim Brancheau presented a gift box that was given to the Economic Development Committee from the C.I.S.D. for the donation to the Education Foundation. o Discussion regarding the City of Irving/Irving Chamber Economic Development Strategy/Coppell Impact Gary Sieb informed the Committee that the Irving Chamber's luncheon for the Centerpiece of Technology Council will be on Tuesday May 8, 2001 and recommended that the Chairman or another member attend this luncheon on the Committee's behalf. Tim Brancheau volunteered to attend the luncheon and Dennis Onalaja indicated that he had already planned to attend as well. Staff will contact the Chamber to R.S.V.P. for Mr. Brancheau and make arrangements for payment. 7. Update on Development within the City (Planning). Staff briefed the Committee on new development in the City, informing the committee of upcoming development cases. Adjournment With no further business to discuss, it was moved by Karen Hunt and seconded by Bruce Bradford that the meeting adjourn. By unanimous vote, the meeting was adjourned at 8:00 p.m. Respectfully submitted, Andrea L. Roy