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BM 2001-07-11 EcDevCOPPELL ECONOMIC DEVELOPMENT COMMITTEE July 11, 2001 MINUTES The Coppell Economic Development Committee met at 6:00 p.m. on Wednesday, July 11, 2001 at Coppell Town Center, 2nd Floor Conference Room, 255 Parkway Boulevard, Coppell, Texas. The following were present: Chairman Bill Rohloff, Gary Roden, Bruce Bradford, Jay Thompson, Dennis Onalaja, Bill Herries, Karen Hunt, Robert Key, Councilmember Jayne Peters, City Manager Jim Witt, Chad Beach, Gary Sieb, and Andrea Roy. Call to Order. Chairman Bill Rohloff called the meeting to order at 6:05 p.m. Approval of Minutes It was moved by Karen Hunt and seconded by Dennis Onalaja that the minutes of the May 2, 2001 meeting (No meeting was held in June) be approved as recorded. The motion passed unanimously. Presentation by Irving Chamber regarding Centerpiece for Technology Council Becky Ashley and Dawn Massoth of the Irving Chamber presented to the Committee, with Tom Morton in attendance. Dawn Massoth was the primary speaker, requesting Coppell's support in their endeavor to found the Irving & Las Colinas Centerpiece of Technology. Ms. Massoth indicated that the purpose of the Council is to bring together representatives of high tech organizations to inform, educate, create business opportunities, and generate economic development. Ms. Massoth briefed the Committee on Irving's and the Metro area's technology base, indicating that Irving is becoming a high-tech corridor. Ms. Massoth indicated that no financial contributions from the City would be necessary, but that they wish for Coppell to become a founding member, providing support and representation at their functions, which would link Coppell's tech companies and Irving's technology base together. Ms. Massoth asked that the City designate a representative to attend Committee meetings. Hand-outs on the goals, functions, and structure of the Technology Council, were distributed. Discussion followed regarding Coppell's position in this endeavor, and it was determined that the item would be placed on the Committee's agenda next month for further discussion among the Committee members. Request by Duke-Weeks Realty Corporation (Texas Dugan, LP) for tax abatement for a 17.824-acre site (known as Freeport VII). Bob Rice with Duke-Weeks presented. The applicant is requesting tax abatement approval for a 383,450 square foot building within Freeport Noah Business Park. This building is a state of the an facility, designed for use as a distribution facility. The applicant estimates that two to three tenants will occupy the building, which is scheduled to be completed by August 2001. Duke-Weeks is looking for five to ten year leases on the building. Mr. Rice showed the Committee renderings of the building, which is similar in nature to other surrounding Duke-Weeks projects. The item was briefly discussed and the Committee decided to continue and review Item 5, the second Tax Abatement request by Duke-Weeks and then discuss in detail. Mr. Rice continued and informed the committee that the second Tax Abatement request was for the 559,582 square foot building located on Freeport Parkway Extension. This building will be the first completed within the new Duke-Freeport Addition at the intersection of Bethel and Freeport Parkway. The applicant indicated to the Committee 1 that the Southwest School Depository has leased a portion of the building for a term of 7 years. The building is currently under construction and is expected to be completed in October 2001. Chad Beach followed with the review of a summary of the results of the econometric model, indicating that Duke-Weeks Realty (Texas Dugan, LP) is requesting a standard 5- year, 75% tax abatement for both projects. Both projects meet and exceed the minimum investment amount required for Tax Abatement approval. It was moved by Bill Herries and seconded by Dennis Onalaja that Duke-Weeks (Texas Dugan, LP) be granted a 5-year, 75% tax abatement for both Item 4 and Item 5. It was passed unanimously. o Request by Duke-Weeks Realty Corporation for tax abatement for a 26.659-acre site (known as Freeport IX). (See Item 4; both requests were reviewed simultaneously) o Discussion regarding role of the Partnership in City Council goals for 2002. Jim Witt and Gary Sieb addressed the Committee on this issue, outlining the four primary goals of the Council under the category of Economic Development. Discussion followed on these issues, which surround the possibility of formal economic development staffing, the role of the Chamber and Partnership in economic development, identification of ;;Hot Spot" properties, and re-evaluation of the City's incentive packages. It was determined that Bill Rohloff and Gary Roden would meet with City Staff to outline these issues and bring the item back for detailed discussion at the next meeting. o Update on Development within the City (Planning). Chairman Bill Rohloff briefed the Committee on the Boeing De-briefing meeting that he attended, distributing information on the main points that were discussed at the de- briefing. Staff then briefed the Committee on new development in the City, informing the committee of upcoming development cases. Robert Key also updated the Committee on the status of Robinhood debate. Adjournment With no further business to discuss, it was moved by Robert Key and seconded by Gary Roden that the meeting adjourn. By unanimous vote, the meeting was adjourned at approximately 8:45 p.m. Respectfully submitted, Andrea L. Roy