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BM 2001-10-03 EcDevCOPPELL ECONOMIC DEVELOPMENT COMMITTEE October 3, 2001 MINUTES The Coppell Economic Development Committee met at 6:00 p.m. on Wednesday, October 3, 2001 at Coppell Town Center, 2nd Floor Conference Room, 255 Parkway Boulevard, Coppell, Texas. The following were present: Chairman Bill Rohloff, Gary Roden, Jay Thompson, Dennis Onalaja, Tim Brancheau, Mohammed Elmougy, Mary Ann Kellam, Robert Key, Councilmember Marsha Tunnell, Councilmember Jayne Peters, City Manager Jim Witt, Asst. Finance Director Chad Beach, Director of Planning & Community Services Gary Sieb, and City Planner Andrea Roy. Call to Order. Vice Chairman Gary Roden called the meeting to order at 6:05 p.m. At this time Vice Chairman Gary Roden swore in re-appointed alternate member Dennis Onalaja. Bruce Bradford is not present and will be sworn in at the following meeting. (Item 2 was delayed until the arrival of the Chairman) Approval of Minutes It was moved by Mohammed Elmougy and seconded by Mary Ann Kellam that the minutes of the September 12, 2001 meeting by approved as recorded. The motion passed unanimously. Discussion regarding Boards & Commissions Attendance Policy. Director of Planning & Community Services Gary Sieb briefed the Committee on the City's Boards & Commissions attendance policy and passed out a memorandum from the City Manager on this subject to all members. Councilmember Jayne Peters also informed the Committee that interviews may be conducted with all boards and commission candidates for all requested positions in the future, due to the overwhelming response by the public to serve on the varying Boards & Commissions. Request by Centex Commercial Development for tax abatement for a 7.017-acre portion of a 25.93-acre tract site (known as Vista Ridge Addition). Dan Anderson with Centex Commercial Development presented. The applicant requested tax abatement approval for a proposed 71,144 square-foot office building located at the southwest comer of S.H. 121 and MacArthur Boulevard. Mr. Anderson showed the Committee the concept plan for the entire three-phase development, indicating that this request surrounds only building one at the present time. The estimated completion date for the project is August 2002. Due to lending restrictions, construction of the project will not begin until approximately 40% of the building is pre-leased. Mr. Anderson another division of Centex is a potential tenant and the applicant's ability to secure the lease will be based on approval of the tax abatement. The potential tenant is currently bound to a lease, which contains a "l-year out", allowing the tenant to relocate after the one-year notification term is completed. It was also indicated that once located in the building, there is a possibility of future expansion, including title, mortgage, pest control, commercial, and residential divisions of Centex. Mr. Anderson further indicated that the estimated value of the building is approximately 4-4.5 million. The item was briefly discussed among Committee members and Chad Beach followed with the review of a summary of the results of the econometric model, expressing that Mr. Anderson's application indicated a minimum improvement value in compliance with the 5.5 million minimum required for consideration. Further discussion proceeded 1 regarding the decrease in the improvement value from 5.5 to 4.0-4.5 million. It was determined that the Committee would make its recommendation based on the values represented in the application. It was moved by Tim Brancheau and seconded by Dennis Onalaja that Centex Commercial Development be granted a 5-year, 75% abatement based on a minimum improvement value of $5.5 million. It was passed unanimously. Mr. Sieb informed the applicant of the Committee's recommendation and indicated that if the value of improvements do not meet the minimum value required for consideration, the applicant will have to request an amendment. (Item 2 was now heard) Election of Officers-Chairman and Vice Chairman. There was no discussion. It was moved by Mohammed Elmougy and seconded by Jay Thompson that the current structure of the Committee be continued, maintaining Bill Rohloff as Chairman and Gary Roden as Vice Chairman. It was passed unanimously. Status of incentives for business attraction and retention. City Manager Jim Witt briefed the Committee on the status of the Staples Company, which is considering consolidation and relocation. Mr. Witt indicated that another community had proposed a significant incentive package to Staples, who wanted to offer Coppell the opportunity to respond with an alternative incentive package. Details were discussed and it was recommended by the Committee that a more aggressive sales tax rebate be granted to Staples, with varying rebate levels based on the number of years and whether the company leases or purchases the facility. It was moved by Tim Brancheau and seconded by Mary Ann Kellam that the sales tax rebate for the one-cent General Fund Sales Tax be granted to Stapes under the following conditions: Years 1-5 25% City of Coppell 75% Staples Years 6-10 40% City of Coppell 60% Staples Years 11-20 If in an ownership position 40% Coppell/60% Staples OF If in a leasing position 50% Coppell/50% Staples It was passed unanimously. Update on status of City's actions to address recommendations by the development community. City Manager Jim Witt indicated to the Committee that some changes have been set in motion to improve City services as recommended by the development community. The Engineering Department has installed signs on the sides of the roads, which are to be improved/widened in the near future. Additionally, the Building Inspections Department is in the process of revising their policy regarding permit review, allowing architects to sign a permit waiver for tenant finish-outs only, which will expedite the process. Discussion regarding Broker's Reception. Mr. Sieb briefed the committee on the Broker's Reception, which is typically held every two years, in the fall. It was recommended that the reception be postponed until the spring in order to the Committee to continue concentrating on the ongoing events. Economic Development Topics of Consideration. A. Hot Spots The provided list of undeveloped properties was discussed at length by the Committee, including site characteristics and development obstacles. The Committee indicated those properties which they would consider a high priority as well as a low priority and requested that staff provide more detailed information on those which are considered a higher priority for development. This item will be looked at further at the next meeting. B. Role of the Chamber & City in Economic Development Mohammed Elmougy indicated to the Committee that the Chamber is in the process of looking at candidates for Chamber President and considering their ability to provide assistance in the area of economic development. The Committee will be updated accordingly. 10. Update on development within the City 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 Mary Ann K¢llam and seconded by Gary Rodcn that the meeting adjourn. By unanimous vote, the meeting was adjourned at approximately 8:30 p.m. Respectfully submitted, Andrea L. Roy