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HomeMy WebLinkAbout2007-10-22 EDC Minutes EULESS DEVELOPMENT CORPORATION BOARD OF DIRECTORS MINUTES OCTOBER 22, 2007 The Board of Directors of the Euless Development Corporation met on Monday, October 22, 2007, in the Precouncil Room of City Hall in the Municipal Complex, 201 North Ector Drive, Euless Texas. The following persons were in attendance: Mayor Mary Lib Saleh, Chairman Council Member Tim Stinneford Council Member Linda Martin Citizen Member Wayne Marrs Citizen Member Sonja Adams Citizen Member Carmen Deithloff City Manager Gary McKamie, President Deputy City Manager Loretta Getchell, First Vice President Director of Economic Development Bill Ridgway, Second Vice President Finance Director Vicki Rodriquez, Treasurer City Secretary Susan Crim, Secretary Director of Parks and Community Services Ray McDonald Library Administrator Kate Lyon Council Member Charlie Miller was not in attendance. VISITOR George Moore CALL TO ORDER Chair Mary Lib Saleh called the meeting to order at 5:33 p.m. APPROVAL OF MINUTES OF AUGUST 13, 2007 MEETING Upon motion by Sonja Adams and second by Wayne Marrs, the minutes of the August 13, 2007, meeting were approved by unanimous vote. EULESS DEVELOPMENT CORPORATION OCTOBER 22, 2007 PAGE 2 PUBLIC HEARING AND APPROVAL OF MODIFICATION OF EXISTING PROJECT WITH BEALL CONCRETE ENTERPRISES, INC. Chair Mary Lib Saleh opened the public hearing. City Manager Gary McKamie reported that the Euless Development Corporation (EDC) has an existing agreement with Beall Concrete which is located in the City's old fire station on Westpark Way and in offices in the Burgundy Tower building on SH10. He stated that the current agreement provides that the City of Euless and the EDC rebate to them 25% of the two cents sales tax revenue for their sales that occur in the City of Euless. In order to retain this business, the City of Euless is proposing to build and lease them an office building that they would occupy for 25 years. The City has signed a Memorandum of Understanding with Beall Concrete stipulating that they would lease the building for a market lease rate. If they met certain thresholds of sales, the lease payment would be waived. The current year budgets have allowed $2 million from the EDC budget and $3 million from the City of Euless budget to build this project. City officials are in the process of negotiating real estate acquisitions to acquire approximately five acres to accommodate this project, and they hope to have that under contract in the very near future. Future action will be required by the EDC to acquire the property and enter into the necessary agreement with the City to construct the building. Gary McKamie explained that after this public hearing is held, there will be a 60-day period during which citizens may comment on the project, after which the EDC may proceed with the project. Chair Saleh asked if anyone would like to speak. George Moore asked how this project would benefit the taxpayers of the City of Euless. City Manager McKamie explained that although the agreement would span 25 years, the taxes generated by this company would pay back the $5 million investment in a very few years. He further stated that even if they never produced any sales tax, the lease agreement alone would pay back the investment in ten years whether they occupied the building or not. The income to the City comes without any additional service, such as extra police or fire service. Mr. Moore asked if the citizens should have had a vote on whether this project is undertaken. Deputy City Manager Loretta Getchell explained that the election authorizing the half cent sales tax and authorizing the EDC Board did in fact give this Board the authority to undertake this type of project that meets the criteria set forth of (1) retention of jobs, (2) a job training facility, and (3) a regional corporate headquarters. Chair Saleh closed the public hearing, and upon motion by Linda Martin and second by Tim Stinneford, Resolution No. 15-07 providing for the undertaking and expenditure of funds for a project involving the amendment and modification of an existing project with Beall Concrete Enterprises, Inc., now doing business as Redi Mix, L.L.C., a subsidiary of U. S. Concrete, and involving the cost of land acquisition and construction of new facilities for the corporate regional headquarters and a primary job training facility and to promote new business development within the City of Euless, was approved by unanimous vote. EULESS DEVELOPMENT CORPORATION OCTOBER 22, 2007 PAGE 3 REPORT ON CURRENT AND UPCOMING PROJECTS Director of Parks and Community Services Ray McDonald reported that the new trail at Midway Park is complete except for some landscaping, benches and trash cans. He said many people are already using the trail, especially students to and from school. He said the dog park is close to being finalized and will now be located entirely on the west side of Bear Creek Parkway. If the property on the east side of the street becomes available later, they will expand the park to the original plan. The area will be divided by a fence for large and small dogs. The apartment association is very excited about the prospect of a dog park. Library Administrator Kate Lyon reported the expansion of the Library into a portion of the shell space is expected soon. It will include individual study rooms, an area for genealogy and local history, additional office space, new carpeting and wall covering, and the replacement of the front entry doors. She stated that wireless internet access will be available throughout the Library building in the near future. She stated they had 220,000 library users in the last fiscal year. Director of Economic Development Bill Ridgway reported that there are only two 1200 square foot spaces available in the Shops at Vineyard Village, with the remainder of the center having been leased. On the west side of SH121, there are some very unique retailers who have been listed in their design plan, but they have not filed any definitive plans with the City at this time. The Euless Town Centre has a major, national tenant looking at the old Grandy's location, which would require leveling the current building and constructing a new one. There are several other very nice, small businesses looking at locating in the City and two hotels will be constructed on the south side of SH183 just east of Ector Drive. There continues to be a strong interest in the Highway 10 corridor and all the businesses in that area are doing well. ADJOURN There being no further business before the Board, the meeting was adjourned at 6:12 p.m. APPROVED: ATTEST: 4 . IL ;Mk,/ Mary Lib aleh Susan Crim Chairman Secretary