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BM 2002-01-09 EcDevCOPPELL ECONOMIC DEVELOPMENT COMMITTEE January 9, 2002 MINUTES The Coppell Economic Development Committee met at 6:00 p.m. on Wednesday, January 9, 2002, at Coppell Town Center, 2nd Floor Conference Room, 255 Parkway Boulevard, Coppell, Texas. The following were present: Chairman Bill Rohloff, Vice Chairman Gary Roden, Bruce Bradford, Jay Thompson, Tim Brancheau, Mohammed Elmougy, Karen Hunt, Robert Key, Councilmember Jayne Peters, Councilmember Marsha Tunnell, City Manager Jim Witt, Chad Beach, Gary Sieb and Andrea Roy. Call to Order. The meeting was called to order at 6:00 p.m. Approval of Minutes It was moved by Jay Thompson and seconded by Tim Brancheau that the minutes of the December 5,2001 meeting be approved as recorded. The motion passed unanimously. Request by AmberPoint at Coppell, LLC for tax abatement for a 308,000 sq. ft. building (Bldg. 1) on a 14.39 acre portion of a 36 acre tract of land (Known as the AmberPoint Business Park). Henry Knapek of Transwestern Commercial Services presented to the Committee. Mr. Knapek described the proposed AmberPoint Business Park, which will eventually contain approximately two million square feet of industrial leasable area. The current tax abatement request pertains to Building One, which measures 308,000 square feet and is designed to house a warehouse/distribution user. Building One will be located on the west side of the Northpoint Drive extension, which will be constructed concurrently with the building, commencing within 2-4 weeks. While there is no known tenant at this time, it was indicated that much interest has already been expressed for the subject building. Chad Beach followed with the review of a summary of the results of the econometric model, indicating that AmberPoint ~ Coppell is requesting a standard 5-year, 75% tax abatement. The estimated value of Building One is 9.2 million, well exceeding the minimum 5.5 million requirement. It was moved by Tim Brancheau and seconded by Bruce Bradford that AmberPoint ~ Coppell (represented by Transwestern Commercial Services) be granted a 5-year, 75% tax abatement for the subject project. The motion passed unanimously. Economic Development Topics of Consideration Role of the Chamber of Commerce and City in Economic Development The Committee discussed the issue of formal staffing for the City's economic development efforts at great length. It was determined that the City needs someone to "fill in the gaps" between the City's current functions and that which is done by the Chamber. There are activities and functions that are not being addressed with regard to businesses in Coppell. The City Manager indicated his concerns with regard to budgetary constraints of economic development staff and the slowing economy. The Committee agreed that Page 1 of 2 identification of the desired economic development roles/responsibilities should be done, allowing the City Management to determine the manner in which to implement these functions. The Committee concluded that it was best not to recommend whether to hire an economic development specialist, but indicate the tasks that we need to accomplish. Activities such as contact with area brokers, retention, and marketing were mentioned. It was moved by Karen Hunt and seconded by Tim Brancheau that the Economic Development Committee craft a resolution to City Council to recommend that Council consider the appropriate staff and/or additional staff to concentrate on Economic Development activities of retention and proactive marketing of the City. It was passed unanimously. 5. Boards and Commission Attendance Policy In response to the Committee's request, Andrea Roy presented a copy of the revisions to the Committee's By-Laws, which now include the City's Attendance Policy applicable to all Committee members. Staff will have the City Attorney review the document and present the item before the City Council for final action, at the February or March City Council meeting. It was also discussed to place the Attendance Sheet of the Committee within the monthly packet to the Committee, to inform them of their attendance record. Staff will provide an attendance sheet with the names and attendance record of all members. It was moved by Bruce Bradford and seconded by Tim Brancheau that the City of Coppell's Boards and Commission attendance policy be placed within the By-Laws of the Economic Development Committee, to apply to all members. It was passed unanimously. 6. Update on development within the City (Planning) Staff briefed the Committee on new development in the City, informing the Committee that no development applications were received this month, but staff is aware of several future projects which are in the planning stages. Staff took this opportunity to update the Zoning Ordinance, correcting inconsistencies and recommended changes. Ms. Roy indicated to the Committee that she had been in contact with the owner of Stone Panels, a company that is currently in negotiations for the purchase of the vacant Four Seasons building on Royal Lane. Ms. Roy also indicated that inquiries regarding possible relocations to Coppell facilities continue. Adjournment With no further business to discuss, it was moved by Jay Thompson and seconded by Mohammed Elmougy that the meeting adjourn. By unanimous vote, the meeting was adjourned at approximately 8:15 p.m. Respectfully submitted, Andrea L. Roy Page 2 of 2