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BM 2002-02-06 EcDevCOPPELL ECONOMIC DEVELOPMENT COMMITTEE February 6, 2002 MINUTES The Coppell Economic Development Committee met at 6:00 p.m. on Wednesday, February 6, 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, Dennis Onalaja, Tim Brancheau, Mary Ann Kellam, 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 6:05 p.m. Approval of Minutes It was moved by Jay Thompson and seconded by Bruce Bradford that the minutes of the January 9, 2002 meeting be approved as recorded. The motion passed unanimously. Request by Verizon to amend economic development incentive agreement to allow for an extension of the completion date for Building "B". Staff briefed the Committee on the background of this request, indicating that the original agreement required Building "B" to be constructed by December 12, 2000, and one extension has already been granted, allowing completion of the building by April 1, 2002. The subject request is to extend the completion date to December 2004. Conditions of the agreement require construction of the building by the noted date or payment for a portion of the construction of Coppell Road. It was also discussed that during the August 2000 meeting, where the first extension was requested, the Committee specifically noted that they did not want to make a habit of granting extensions. Tom Schaffer and Diane Wolford of Verizon presented to the Committee, indicating the reasons for the extension. Mr. Schaffer stated that Verizon's merger has been an extremely slow process, with organizational issues still being worked out. Additionally, Mr. Schaffer indicated that the current economic downturn prohibits construction of a second building at this time and while there are plans to construct a second building, there were no guarantees. Discussion by the Committee resumed. The Committee expressed its concerns for the City during this time of economic downturn and the funds which the City counted on coming from the construction of the Verizon building. It was recommended that stipulations be placed on any extension, requiring that some level of the required payment be made to the City. It was further recommended that interest be charged on the amount due to the City during the extension period. It was determined that the precise legality of the means of receiving payment must be explored through our City Attorney. The Committee expressed that the City must cover its liabilities with regards to the funding for the roadway. It was recommended by Tim Brancheau and seconded by Dennis Onalaja that the item be postponed for action until next month, allowing adequate review by staff and the City Attorney to determine an appropriate means of collecting a payment amount. The motion passed unanimously. Page 1 of 3 o o o Review of the Committee's recommendation to City Council on economic development goals (Role of the Chamber, Formal Economic Development Staffing, Hot Spots, and Incentives). Staff briefed the Committee on the proposed letter addressed to the City Council regarding their economic development goals for 2001-2002. The letter contains the Committee's response to the Council economic development goals for the role of the Chamber and formal economic development staffing. The issues surrounding Hot spots and incentives have not been fully finalized and are not included within the letter, as some additional discussion regarding the Committee's decision is necessary. Staff distributed a sheet containing notes from prior meetings regarding the hot spots and incentives. Chairman Rohloff indicated that the notes summarize the Committee's decision regarding these issues and mentioned that he would include these ideas within the letter to City Council. Councilmember Jayne Peters recommended that the letter contain more specifics regarding what retention, recruitment, and proactive marketing of the City includes. The Committee further discussed the possible incentives needed for development of the top four hot spots. It was determined that the Committee supported some type of development incentives for the parcels, including the possibility of a reduction in tree mitigation for qualifying properties. It was noted that this would be included in the letter to Council, with limited discussion, as the Committee did not want to limit possible incentives. It was determined that Mr. Rohloff would re-draft the letter the Council to include discussions surrounding hot spots and our current incentive programs. Discussion regarding the 2002 Broker's Reception Staff briefed the Committee on the estimated costs surrounding a broker's reception, indicating how much was spent on the reception in the past. It was the consensus of the Committee that now may not be the ideal time to host the reception, mentioning lower than anticipated attendance at the prior reception. Mr. Witt indicated that it may be more beneficial to sponsor a monthly meeting of the National Association of Industrial & Office Properties and/or similar functions. It was also mentioned that individuals who attend the reception already know about Coppell, and it is the intent to better inform those who do not know about Coppell. The Committee asked that staff look into sponsoring one of these functions and perhaps some others in the future, in lieu of the broker's reception at this time. Update on Commercial and Industrial development within the City. Staff briefed the Committee on new development in the City, informing the Committee that several new leases have been announced for tenants locating within buildings on the west side. The amount of available space located within our industrial buildings is lowering, as the recently completed buildings begin to be occupied. Page 2 of 3 General Discussion and other business. Staff briefed the Committee regarding an interview with the City of Carrollton's Economic Development Director, Brad Mink, and distributed the literature from that meeting. Staff indicated the structure of the department, the manner in which incentives and site plans are processed, and the unique program that Carrollton has to market their companies overseas. Jay Thompson added that he reviewed a tax abatement agreement which contains Chamber of Commerce membership requirements, a possibility which the Committee had suggested to include in Coppell's Tax Abatements. Jay will forward a copy to City Staff. City Manager Jim Witt indicated that the Committee's recommendation regarding expeditious permitting is being conducted through our Building Inspections Department. Mr. Witt also informed the Committee that CJ's had been sold, but that no significant changes should occur, other than revisions to the menu. Adjournment With no further business to discuss, it was moved by Tim Brancheau and seconded by Mary Ann Kellam that the meeting adjourn. By unanimous vote, the meeting was adjourned at approximately 7:25 p.m. Respectfully submitted, Andrea L. Roy Page 3 of 3