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Home My WebLink About2004-06-14 EDC Minutes EULESS DEVELOPMENT CORPORATION BOARD OF DIRECTORS MINUTES JUNE 14, 2004 The Board of Directors of the Euless Development Corporation met on Monday, June 14, 2004, in the Precouncil Room of City Hall, 201 North Ector Drive, Euless Texas. The following persons were in attendance: Mayor Mary Lib Saleh, Chairman Council Member Carl Tyson, Vice Chairman Council Member Veva Lou Massey Citizen Member Sonja Adams Citizen Member Carmen Deithloff Citizen Member Wayne Marrs City Manager Joe Hennig, President Deputy City Manager Gary McKamie, First Vice President Director of Economic Development Bill Ridgway, Second Vice President Director of Fiscal &Administrative Services Loretta Getchell, Treasurer City Secretary Susan Crim, Secretary Director of Parks and Community Services Ray McDonald Library Administrator JoAnn Rogers Planning and Development Manager Eric Wilhite Public Works Manager Chris Barker Special Projects Manager Lou Baum Alex Horton, Visitor Council Member Charlie Miller was not present. CALL TO ORDER Chair Mary Lib Saleh called the meeting to order at 5:40 p.m. APPROVAL OF MINUTES OF MARCH 1, 2004 MEETING Upon motion by Carl Tyson and second by Wayne Marrs, the minutes of the March 1, 2004, meeting were approved by unanimous vote. REVIEW OF FINANCIAL REPORT, QUARTER ENDING MARCH 31, 2004 Loretta Getchell, Treasurer, reviewed the Financial Report for the quarter ending March 31, 2004, indicating that there were expenditures of$2,826 in the capital projects fund for EULESS DEVELOPMENT CORPORATION JUNE 14,2004 PAGE 2 this quarter, primarily for the floor at Midway Recreation Center and various improvements within the parks. She stated the remaining balance in the capital project fund for projects not yet completed is $262,835 for the splash pool, hike/bike trail and a variety of park improvements. Ms. Getchell reported that sales tax collections as of the second quarter were $1,161,617, which represented 50% of budget. Operating expenditures were within budget at $1,154,674. She stated that undesignated capital project funds in the amount of$185,645 remain available for future allocation to approved projects. PUBLIC HEARING ON PROJECT INVOLVING RELOCATION OF ACME BUILDING BRANDS, INC. Chair Mary Lib Saleh opened the public hearing at 5:50 p.m. Economic Development Director Bill Ridgway reported that the Acme Building Brands, Inc., has purchased the building that was formerly Furr's Cafeteria, and they plan to relocate their regional sales, accounting and administrative offices for the training of company employees. Their average salary will be $85,000 annually. He stated the City of Euless had a unique opportunity to work with this company to bring them here. It was a competitive project with two other cities seeking the business. The City of Euless has structured an agreement that has a strong incentive, and we hope they will transfer even more operations here in the future. They will be required to maintain a minimum of 55 employees, and they plan to make $1,000,000 in renovations to the building prior to moving in. We will make an annual payment of $100,000, from funds authorized by the Euless Development Corporation, to Acme Building Brands, Inc., for the creation, retention and training of employees. Additionally, the City will pay the Company a sum representing 72% of the sales tax up to $500,000, plus 90% of the sales tax in excess of $500,000 for the first 5 years. For tax years 6 through 10, the City will pay the Company 72% of the sales tax up to $575,000, plus 90% of the sales tax in excess of $575,000. For tax years 11 through 15, the City will pay the Company 72% of the sales tax up to $650,000 and 90% of the sales tax in excess of$650,000. All payments will be based on the proof that the Company has furnished evidence of payment in full of all ad valorem taxes owed the City. In the event of any change in law affecting this agreement, the parties reserve the right to renegotiate the agreement. Mr. Ridgway stated that Acme plans to have their operation open in Euless by January 1, 2005. There being no proponents or opponents, Chairman Saleh closed the public hearing at 6:55 p.m. EULESS DEVELOPMENT CORPORATION JUNE 14.2004 PAGE 3 City Manager Joe Hennig stated that the City Council initially approved the project at their May 11, 2004 meeting, and after the Euless Development Corporation action this date, the City Council will ratify the EDC action. APPROVAL OF RESOLUTION NO. 13-04 AUTHORIZING A PROJECT FOR THE RELOCATION OF ACME BUILDING BRANDS, INC., FACILITY Upon motion by Wayne Marrs and second by Sonja Adams, Resolution No. 13-04 authorizing the expenditure of funds for a project involving the relocation of the Acme Building Brands, Inc., sales, administration and training facility was approved by unanimous vote. REPORT ON CURRENT AND UPCOMING PROJECTS City Manager Joe Hennig reported that Special Projects Manager Lou Baum is ending his three-year employment with the City. His primary focus has been the Main Street sign program, and he has also established a great relationship with the business owners on Main Street. Mr. Baum reported that the signs are now complete for Popeye's, Wendy's and Sonic. He said that 15 signs are now in place and there are 7 remaining. The signs for Blockbuster and the Copy/Box multi-tenant center will be installed within the next 2 weeks. Central Self Storage will be bringing forth their plans for an expansion and will install a new sign at that time. The signs for Albertsons, Texaco and the new business going into the Food Lion building will be approved in the near future. The entire project is expected to come in under budget. Sonja Adams asked if Braum's has decided to participate. Lou Baum replied that they have not. Chevron will be contacted again to see if they are interested in making their sign smaller now that their company's moratorium on sign renovations has expired. Joe Hennig reported that Eric Wilhite will give an overview of the Main Street landscaping plan at the June 22 City Council meeting. Joe Hennig announced that the committee headed by Alex Horton has succeeded in gathering adequate signature to hold a local option election in September for the sale of wine for off premise consumption in the City of Euless. Bill Ridgway announced that a business by the name of "99 cents " is going into the former Food Lion building, and an electronics company is looking at locating in Euless Town Center. He said he has not heard from the Sutherlands Company, although they said last year that they would be visiting their Euless location this year. EULESS DEVELOPMENT CORPORATION JUNE 14,2004 PAGE 4 Mr. Ridgway stated that the Euless representatives at the International Council of Shopping Centers Conference visited with personnel from Burlington Coat Factory. There is still hope that they will remain in Euless, although they are opening locations in Irving and Hurst. They also visited with drug and grocery store representatives about the possibilities in Euless. He stated the Euless Town Center remodeling is nearing completion. Director of Parks and Community Services Ray McDonald reported that the design is complete for the Preserve at McCormick Park. It will be bid in the next 30 days and the contract will be awarded in August. Construction should start in the Fall and the new park will open next Spring. Mr. McDonald stated that the aquatic playground bids have been advertised and they will be awarded in August with an early Fall completion anticipated. Public Works Manager Chris Barker reported that two entryway signs are being planned for SH157 at South Pipeline Road and another one in the Glade Road area. They would like to do one on SH10, but they will wait until TXDOT has completed reconstruction of it. Librarian JoAnn Rogers stated that they anticipate utilizing their entire $75,000 received from the Euless Development Corporation during this fiscal year. She also reported that approximately half of their staff is part-time and funded through EDC. Veva Lou Massey stated that the new glass art project is going to be beautiful. Wayne Marrs stated that he is very impressed with the Main Street Project. Carmen Deithloff said she is also very pleased with it. Sonja Adams commended the City Council and staff for hiring Lou Baum to assist with that project. ADJOURN There being no further business before the Board, the meeting was adjourned at 6:45 p.m. APPROVED: ATTEST: 1 ILat, Z 4:4- _At 1-(k) Mary Lib $aleh Susa Crim Chairman Secretary