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EDP - Minutes - 2000 COPPELL ECONOMIC DEVELOPMENT COMMITTEE January 5,2000 MINUTES The Coppell Economic Development Partnership met at 7:30 p.m. on Wednesday, January 5, 2000 at Coppell Town Center, 2nd Floor Conference Room, 255 Parkway Boulevard, Coppell, Texas 75019. The following were present: Tim Brancheau, Bruce Bradford, Scarlett Hovland, Karen Hunt, Mary Ann Kellam, Pamela Kurtzman, Isabelle Moro, Stan Morton, Bill Rohloff, Gary Sieb, Jay Thompson, City Manager Jim Witt, and Councilmembers Jayne Peters and Doug Stover. 1 . CaJ.l to Order Chairman Bill Rohloff called the meeting to order at 7:30 p.m. 2. Approval of Minutes It was moved by Stan Morton and seconded by Tim Brancheau that the minutes of the December 1, 1999 meeting be approved, except that the minutes need to show that Stan Morton did attend the December 1 meeting. The motion passed unanimously. 3. Update on the Adoption of the Co:r:nerstone Concept Bill Rohloff shared with the committee that the Cornerstone Subcommittee had met and reviewed the Cornerstone Concept contract. The committee believes that the concept would be of benefit to the City and the Development Community. It was discussed that both the City and the Development Community might work together to finance the concept. There are still some concerns and questions about the program. The subcommittee will continue to meet and will proceed with revisions to the contract. 4 . Review of Current Coumerci.al and Industrial Projects Isabelle Moro reported on an office/warehouse development located at Freeport North. A development of retail center, daycare facility to be located at the southwest corner of N. Denton Tap Road and Town Center West Blvd. will be reviewed at the upcoming Planning and Zoning Commission meeting. Also being presented for review is operation of a Starbucks Coffee Company retail space located at 106 N. Denton Tap Road in the Tom Thumb Shopping Center at the Northeast corner of Denton Tap Road and Sandy Lake Road. Isabelle shared with the committee that construction had stopped on a Gymnastics Building site located on Denton Tap Road behind the Taco Bell building. Gary Sieb noted that Nutone, Inc. located at 850 North Lake Drive would be closing and that 115 jobs would be affected. 5. General Discussion and Other Business City Manager Jim Witt gave an update on the Freeport Tax Exemption. He shared with the committee that he had visited with CISD Superintendent Buddy Echols and there continues to be a question on the total revenue shortfall. Scott Williams sent letters to 9 companies who have yet to sign the contract. The CISD Board is scheduled to vote on the Freeport Tax Exemption at their February meeting. Mr. Witt also shared that the 2012 Olympic committee will be meeting in February and he will share updates with the Economic Development Committee. With no further business to discuss it was moved by Karen Hunt and seconded by Pamela Kurtzman that the meeting adjourn. By unanimous vote, the meeting was adjourned at 8:15 p.m. ~ Respectfully submitted, s~ Scarlett Hovland COPPELL ECONOMIC DEVELOPMENT COMMITTEE SPECIAL CALLED MEETING February 16, 2000 MINUTES The Coppell Economic Development Committee met at 6:00 p.m. on Wednesday, February 16,2000 at Coppell Town Center, 2nd Floor Conference Room, 255 Parkway Boulevard, Coppell, Texas 75019. The following were present: Bruce Bradford, Bill Herries, Scarlett Hovland, Karen Hunt, Mary Ann Kellam, Isabelle, Moro, Stan Morton, Bill Rohloff, Gary Sieb, Jay Thompson, City Manager Jim Witt, and Councilmember Jayne Peters. 1. Call to Order Cbainnan Bill Herries called the meeting to order at 6: 15 p.m. 2. Approval of Minutes It was moved by Bruce Bradford and seconded by Stan Morton that the minutes of the February 2, 2000 meeting be approved, except that the minutes need to reflect that Pam Kurtzman was uncomfortable approving the Cornerstone Contract the evening of February 2, 2000. The motion passed unanimously. 3. Discussion of a Loan under Local Government Code Chapter 380 to Duke-Weeks Realty Corporation Duke-Weeks Realty Corp. is requesting financial relief from the City with regards to the cost of construction of Freeport Parkway required by the City to develop a 140-acre tract ofland located along the north side of Bethel Road. City Manager Jim Witt led the discussion and supplied copies of estimated costs of construction of Freeport Parkway. Discussion followed with regards to the benefits of extending Freeport Parkway. The extension could provide the City another access to Wagon Wheel Park and it would spur economic development. More discussion followed on the conditions of a loan to Duke-Weeks Realty. After much consideration to the conditions of the loan, it was moved by Jay Thompson and seconded by Bruce Bradford that the following conditions be included ofa loan under local government code chapter 280 to Duke-Weeks Realty Corporation for the construction of the extension of Freeport Parkway: 1 The City ofCoppell will contribute 43.75% of the cost of construction of the extention of Freeport Parkway not to exceed $670,000. 2. 50% of cost will be paid on the completion of the construction of the extension of Freeport Parkway. 3. The remainder of the cost of the extention of Freeport Parkway will be paid on the completion of the foundation for 150,000 sq. ft. of building project. 4. The road construction must begin no later than October 1, 2000 and the building construction begun no later than October 1,2001. The motion was passed unanimously. 4. Discussion of Possible Adoption of the Cornerstone Concept Gary Sieb provided copies of a new revised contract that the City Attorney bad redrafted. At the time of the meeting Gary Sieb bad not heard from Scott Williams on the changes that were made to the contract. Jay Thompson provided copies of notes that he had made concerning the contract. Discussion followed with outstanding concerns with the contract. The committee did not feel comfortable with the retainer fee given through the developers and the city. Other concerns that were mentioned was that the committee felt there could be a conflict of interest due to Mr. Williams being a real estate broker. It was noted that new development continues to come to Cappell, but that there is a need for business retention and that of finding tenants for the new buildings. After further discussion it was moved by Bill Herries and seconded by Karen Hunt that the contract be denied however, the concept of an Economic Development representative should be pursued by the committee. The motion was passed unanimously. 5. Discussion and Update on Triple Freeport Tax Exemption City Manager Jim Witt shared with the committee that he, Bill Rohloff, Chad Beach and Scott Williams bad met with Mr. Buddy Echols, CISD Superintendent the previous week. There is a discrepancy between the city and the CISD over the total revenue shortfall to the school district, but Mr. Witt believes that will be resolved. Mr. Williams continues to receive signed contracts from the developers. The CISD Board is scheduled to vote on the Freeport Tax Exemption at their February 28th meeting. Discussion followed with concern that Mr. Scott Williams contract with the developers ended in December 1999, The committee felt it was necessary to continue compensating Mr. Williams for his time spent on the Freeport Tax Exemption. It was decided that City Manager Jim Witt and Gary Sieb would contact Scott Williams this week to discuss his compensation to continue his efforts in support of the Freeport Tax Exemption. 6. General Discussion and Other Business With no further business to discuss it was moved by Bill Herries and seconded by Stan Morton that the meeting adjourn. By unanimous vote, the meeting was adjourned at 8:00 p.m. Respectfully submitted, ~~ Scarlett Hovland r--- COPPELL ECONOMIC DEVELOPMENT COMMITTEE MARCH 1, 2000 MINUTES The Coppell Economic Development Committee met at 7:00 p.m. on Wednesday, March 1,2000 at Coppell Town Center, 2nd Floor Conference Room, 255 Parkway Boulevard, Coppell, Texas 75019. The following were present: Bill Herries, Scarlett Hovland, Pamela Kurtzman. Stan Morton, Gary Roden, Gary Sieb, Jay Thompson, City Manager Jim Witt, and Counci1member Jayne Peters. 1. Call to Order Gary Sieb called the meeting to order at 7:05 p.m. 2. Approval of Minutes It was moved by Jay Thompson and seconded by Bill Herries that the minutes of the February 16, 2000 meeting be approved, except that the minutes need to reflect that the "loan under Local Government Code Chapter 380" be changed to "grant under Local Government Code Chapter 380". The motion passed unanimously. 3. Discussion of Cornerstone Contract Gary Sieb shared with the committee that he had contacted Scott Williams to inform him that the Cornerstone Contract had been declined, Mr. Sieb continued to inform the committee that Mr. Williams would not be continuing his work for the Freeport Tax Exemption. Discussion followed. The committee stated that they would be committed to finish the Freeport Tax Exemption contracts. The suggestion was made that an alternate person be considered to continue as consultant for the Freeport Tax Exemption. This person would be compensated for his time in collecting the signed contracts from the development community in Coppell. Sixteen developments had already committed with six companies' left to sign the contract. It was moved by Bill Herries and seconded by Pamela Kurtzman that City Manager Jim Witt would pursue an alternate person to continue the work on the Freeport Tax Exemption. The motion passed unanimously. 4. Update on CISD Board Action with Regards to Freeport Tax Exemption Jim Witt shared with the committee that the CISD Board meeting on February 28th was positive and supportive of the Freeport Tax Exemption. He explained that there is still a discrepancy between the city and the CISD over the total revenue shortfall to the school district. The CISD Board agreed to grant the Freeport Tax Exemption effective at such time as the following items are completed and in place: 1. A final number regarding "hold-harmless" payment to CISD is agreed upon by all parties concerned. 2. Monies equal to the above mentioned dollar amount are committed and deposited into an escrow account to be used for payment to CISD. 3. Such monies referenced above will be deposited into the aforementioned escrow account not later than August I, 2000. 4. A formal and legal instrument granting the Freeport Tax Exemption is ratified and executed by the Board of Trustees officially. Discussion followed. Mr. Witt feels confident that the above items can be accomplished by August 1,2000. 5. General Discussion and Other Business Gary Sieb gave an update on current commercial and industrial projects. Mr. Sieb also infomed the committee that the Duke-Weeks contract for the grant was being drafted. With no further business to discuss it was moved by Bill Herries and seconded by Stan Morton that the meeting adjourn. By unanimous vote, the meeting was adjourned at 7:45 p.m. Respectfully submitted, ~ Scarlett Hovland COPPELL ECONOMIC DEVELOPMENT COMMITTEE MARCH 27, 2000 MINUTES The Coppell Economic Development Committee met at 7:00 p.m. on Monday, March 27,2000 at Coppell Town Center, 2nd Floor Conference Room, 255 Parkway Boulevard, Coppell, Texas 75019. The following were present: Chad Beach, Bill Herries, Scarlett Hovland, Pamela Kurtzman, Stan Morton, Gary Roden, Bill Rohloff, Gary Sieb, Jay Thompson, City Manager Jim Witt, and Councilmembers Jayne Peters and Doug Stover. I. Call to Order Bill Rohloff called the meeting to order at 7:05 p.m. 2. Approval of Minutes It was moved by Bill Herries and seconded by Gary Roden that the minutes of the March I, 2000 meeting be approved. The motion passed unanimously. 3. Consideration of Freeport Exemption Proposal by Duke-Weeks Realty Corporation Mr. Jeffrey Turner, Senior Vice President with Duke-Weeks Realty Corporation presented the plan regarding escrow money being provided by Duke-Weeks Realty Corporation for the Freeport Exemption. It was moved by Pamela Kurtzman and seconded by Gary Roden to move the regular scheduled Economic Development Committee meeting on April 5, 2000 to April 10, 2000 to continue discussion on the proposal by Duke-Weeks Realty Corp. before the City Council meeting on April 11, 2000. The motion passed unanimously. 4. Freeport Exemption Status Jim Witt presented update on the Freeport Exemption Status. The total revenue shortfall to the school district is estimated to be at 1 million dollars. Mr. Tim Brancheau was contracted through the City of Coppell to continue pursuing signed contracts from businesses in support of the Freeport Tax Exemption. Adjournment The meeting adjourned at 8:40 p.m. Respectfully submitted, s~ Scarlett Hovland Secretary "'II COPPELL ECONOMIC DEVELOPMENT COMMITTEE APRIL 10, 2000 MINUTES The Coppell Economic Development Committee met at 7:00 p.m. on Monday, April 10, 2000 at Coppell Town Center, 2nd Floor Conference Room, 255 Parkway Boulevard, Coppell, Texas 75019. The following were present: Chad Beach, Tim Brancheau, Scarlett Hovland, Robert Key, Pamela Kurtzman, Stan Morton, Gary Roden, Bill Rohloff, Jay Thompson, City Manager Jim Witt, and Councilmember Jayne Peters. I. Call to Order Bill Rohloff called the meeting to order at 7:05 p.m. 2. Approval of Minutes It was moved by Robert Key and seconded by Pamela Kurtzman that the minutes of the March 27, 2000 meeting be approved. The motion passed unanimously. 3. Update on Freeport Exemption Participation Tim Brancheau presented update on Freeport Exemption Participation. Certified letters with the revised agreements were send to the development community. Tim is following up with phone calls and has begun receiving signed agreements. 4. Update on Freeport Exemption Proposal by Duke-Weeks Realty Corporation City Manager Jim Witt met with Jeffrey Turner, Senior Vice President with Duke-Weeks Realty Corporation regarding escrow money being provided by Duke-Weeks Realty Corporation for the Freeport Exemption. It was proposed that a letter of intent be drafted by the City Attorney and presented to Mr. Turner before any action is taken 5. Convene Executive Session A. Section 551.086, Texas Government Code - Deliberation Regarding Economic Development Negotiations. I. Discuss Financial Information from Duke-Weeks Regarding and/or Concerning the Location and Expansion of Business in Coppell through Freeport Tax Exemption. Chairman Bill Rohloff convened into Executive Session at 7:45 p.m. as allowed under the above- stated article. Bill Rohloff adjourned the Executive Session at 8:30 p.m. 6. Necessary Action Resulting from Executive Session. A. Consider a proposal by Duke-Weeks regarding a Freeport Tax Exemption. No action taken. Adjournment The meeting adjourned at 8:35 p.m. Respectfully submitted, :S"~~ L Q <> ~ Scarlett Hovland Secretary COPPELL ECONOMIC DEVELOPMENT COMMITTEE MAY 3, 2000 MINUTES The Coppell Economic Development Committee met at 7:00 p.m. on Wednesday, May 3,2000 at Coppell Town Center, 2nd Floor Conference Room, 255 Parkway Boulevard, Coppell, Texas 75019. The following were present: Chad Beach, Bruce Bradford, Tim Brancheau, Bill Herries, Scarlett Hovland, Mary Ann Kellam, Pamela Kurtzman, Stan Morton, Gary Roden, Gary Sieb, Jay Thompson, City Manager Jim Witt, and Councilmember Jayne Peters. 1. Call to Order Gary Roden called the meeting to order at 7:05 p.m. 2. Approval of Minutes It was moved by Stan Morton and seconded by Jay Thompson that the minutes of the April 10, 2000 meeting be approved. The motion passed unanimously. 3. Update on Freeport Exemption Participation Tim Brancheau presented update on Freeport Exemption Participation. Tim continues to follow up with phone calls to the development community that have received the certified letter and agreement. As of this date 4 agreements have been received. Chad Beach noted that he had the list of companies that applied for Freeport Tax for this year. 4. Consideration of a Request by PSINet for tax abatement Mr. Michael Binder, Project Manager for PSINet made a presentation about PSINet. PSINet Internet Data Housing Center will be an Internet dedicated complex. The facility, located in an 80,000 sq. ft., one-level building at 1333 Crestside Drive, Coppell, will be a Data Hosting Center for shared, managed and co-located web sites. Employment is estimated to be 100 full-time positions with an average annual salary of$67,500. PSINet plans to hire locally. The facility will operate 24 hours a day, 7 days a week, with 3 working shifts. Mr. Binder expressed to the committee that PSINet is very community oriented and they enjoy being involved. Chad Beach followed with the review of a summary ofthe results of the econometric model for PSINet. PSINet is requesting a 5- year, 75% tax abatement. Discussion followed. It was moved by Bill Herries and seconded by Bruce Bradford that PSINet be granted the 5-year, 75% tax abatement with an agreement with PSINet that they would be involved in the City of Coppell in a community service project/projects. It was suggested that the City Council formalize the agreement. It was passed unanimously. 5. Update on CommerciallIndustrial Projects Gary Sieb gave an update on several projects. Jack In The Box Restaurant development to consist of a 2,742 sq. ft. fast food drive- through restaurant to be located on the south side ofHwy. 121, and east of North Denton Tap Road. Duke-Weeks Realty Corporation site plan for seven office/warehouse facilities on 142 acres along the north side ofW. Bethel Road, south of Ruby Road and east ofCoppell Road will go to council for approval in July. Town Center Addition site plan to allow a 15,300 sq. ft. retail center on 2.1 acres along the east side ofN. Denton Tap Road, south of Town Center Drive. Adjournment The meeting adjourned at 8:00 P.M. Respectfully submitted, Se..~ Scarlett Hovland Secretary ,--- I I COPPELL ECONOMIC DEVELOPMENT COMMITTEE MAY 3, 2000 MINUTES The Coppell Economic Development Committee met at 7:00 p.m. on Wednesday, May 3,2000 at Coppell Town Center, 2nd Floor Conference Room, 255 Parkway Boulevard, Coppell, Texas 75019, The following were present: Chad Beach, Bruce Bradford, Tim Brancheau, Bill Rerries, Scarlett Hovland, Mary Ann Kellam, Pamela Kurtzman, Stan Morton, Gary Roden, Gary Sieb, Jay Thompson, City Manager Jim Witt, and Councilmember Jayne Peters. 1. Call to Order Gary Roden called the meeting to order at 7:05 p.m. 2. Approval of Minutes It was moved by Stan Morton and seconded by Jay Thompson that the minutes of the April 10, 2000 meeting be approved. The motion passed unanimously. 3. Update on Freeport Exemption Participation Tim Brancheau presented update on Freeport Exemption Participation, Tim continues to follow up with phone calls to the development community that have received the certified letter and agreement. As of this date 4 agreements have been received. Chad Beach noted that he had the list of companies that applied for Freeport Tax for this year. 4. Consideration of a Request by PSINet for tax abatement Mr. Michael Binder, Project Manager for PSINet made a presentation about PSINet. PSINet Internet Data Housing Center will be an Internet dedicated complex. The facility, located in an 80,000 sq. ft" one-level building at 1333 Crestside Drive, Coppell, will be a Data Hosting Center for shared, managed and co-located web sites, Employment is estimated to be 100 full-time positions with an average annual salary of$67,500. PSINet plans to hire locally. The facility will operate 24 hours a day, 7 days a week, with 3 working shifts. Mr. Binder expressed to the committee that PSINet is very community oriented and they enjoy being involved. Chad Beach followed with the review of a summary ofthe results of the econometric model for PSINet. PSINet is requesting a 5- year, 75% tax abatement. Discussion followed. It was moved by Bill Herries and seconded by Bruce Bradford that PSINet be granted the 5-year, 75% tax abatement with an agreement with PSINet that they would be involved in the City of Coppell in a community service project/projects. It was suggested that the City Council formalize the agreement. It was passed unanimously. ._-1 5. Update on Commercial/Industrial Projects Gary Sieb gave an update on several projects. Jack In The Box Restaurant development to consist ofa 2,742 sq. ft. fast food drive- through restaurant to be located on the south side ofHwy. 121, and east of North Denton Tap Road. Duke-Weeks Realty Corporation site plan for seven office/warehouse facilities on 142 acres along the north side ofW. Bethel Road, south of Ruby Road and east ofCoppell Road will go to council for approval in July. Town Center Addition site plan to allow a 15,300 sq. ft. retail center on 2.1 acres along the east side ofN. Denton Tap Road, south of Town Center Drive. Adjournment The meeting adjourned at 8:00 P.M. Respectfully submitted, Sc:..~ Scarlett Hovland Secretary