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Home My WebLink About2006-05-15 EDC Minutes EULESS DEVELOPMENT CORPORATION BOARD OF DIRECTORS MINUTES MAY 15, 2006 The Board of Directors of the Euless Development Corporation met on Monday, May 15, 2006, 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 Council Member Charlie Miller 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 Assistant City Manager Loretta Getchell, Treasurer City Secretary Susan Crim, Secretary Library Administrator Kate Lyon CALL TO ORDER Chair Mary Lib Saleh called the meeting to order at 5:45 p.m. APPROVAL OF MINUTES OF FEBRUARY 27, 2006 MEETING Upon motion by Wayne Marrs and second by Sonja Adams, the minutes of the February 27, 2006, meeting were approved by unanimous vote. REVIEW OF FINANCIAL REPORT, QUARTER ENDING MARCH 31, 2006 Loretta Getchell, Treasurer, reviewed the Financial Report for the quarter ending March 31, 2006, indicating that there were expenditures of $18,214 in the capital projects fund for this quarter, primarily for improvements within the parks. She stated the remaining balance in the capital project fund for projects not yet completed is $295,277 for incentives, marquee sign, basketball goal and a variety of park improvements. Ms. Getchell reported that sales tax collections as of the second quarter were $1,435,536, which represented 58% of budget. Operating expenditures were within EULESS DEVELOPMENT CORPORATION MAY 15,2006 PAGE 2 budget at $1,281,324. She stated that undesignated capital project funds in the amount of $207,729 remain available for future allocation to approved projects. PUBLIC HEARING ON PROJECT WITH BEALL CONCRETE ENTERPRISES, LTD. Chair Mary Lib Saleh opened the public hearing at 5:50 p.m. to receive comments on a project relating to job creation for the addition of 17 full-time positions with Beall Concrete Enterprises, Ltd. Director of Economic Development Bill Ridgway stated Beall Concrete is expanding its sales, training, and marketing operations in Euless. They will add 17 new full-time permanent employees at their new location. This agreement will provide rent support for five years at $75,000 per year at an expanded location in Burgundy Towers. The sales tax requirement to qualify for this incentive is $750,000 in sales tax collected by the City of Euless during each reporting year for the five-year term. This is a separate agreement with Beall and is not part of the existing agreement. City Manager Joe Hennig stated that Bill Ridgway has done a great job of working with Beall Concrete on this project. He said it has been a complicated process to find a suitable location for them and it is the City's hope that this company will expand even more in the future in the City of Euless. Council Member Miller asked what portion of the $750,000 would be prorated to the Euless Development Corporation per year. Ms. Getchell replied that $187,500 would go to the EDC budget, $93,750 to the Crime Control and Prevention District budget and $468,750 to the City's general fund budget. There were no proponents or opponents present to speak and Mayor Saleh closed the public hearing at 6:05 p.m. Council Member Miller motioned to approve the project and the terms of the agreement with Beall Concrete Enterprises, LTD, for the addition of 17 full-time positions and the creation of a training facility and providing rent support for five years at $75,000 per year at an expanded location in Burgundy Towers subject to the City of Euless collecting $750,000 sales tax during each reporting year for the five-year term and to recommend approval of the project and agreement to the City Council. Upon second by Sonja Adams the motion was approved by unanimous vote. PUBLIC HEARING ON PROJECT WITH PROFESSIONAL TURF PRODUCTS, L.P. Chair Mary Lib Saleh opened the public hearing at 6:07 p.m. to receive comments on a project to include a distribution center, training, assembly and sales with the addition of 40 full time positions with Professional Turf Product, L.P. Director of Economic Development Bill Ridgway stated that Professional Turf Products (PTP), distributor of Toro products for lawn, golf course and commercial buildings, will remodel the old Sutherland building to create a sales office, training facility, assembly and parts EULESS DEVELOPMENT CORPORATION MAY 15,2006 PAGE 3 distribution center, and accounting center. They will create 40 new full-time positions in Euless. PTP agrees to invest a minimum of $800,000 in the upgrade and remodel of the building. After the Certificate of Occupancy has been issued and the $800,000 verified and payroll substantiated, the city will pay an incentive of $300,000 to PTP. The city will also pay PTP a sales tax rebate not to exceed $200,000 over the remaining period of the contract. There were no proponents or opponents present to speak and Mayor Saleh closed the public hearing at 6:15 p.m. Council Member Tyson motioned to approve the project and the terms of the agreement with Professional Turf Products, L.P. for a sales office, training facility, assembly and parts distribution center with the addition of 40 full-time positions at 1010 N. Industrial Blvd., with PTP agreeing to expend not less than $800,000 for the refurbishing, renovation, remodeling and repair of the property and to recommend approval of the project and agreement to the City Council. Upon second by Council Member Massey, the motion was approved by unanimous vote. REPORT ON CURRENT AND UPCOMING PROJECTS City Manager Joe Hennig thanked the Euless Development Corporation Board members for their approval of the two projects with Beall Concrete and Professional Turf Products and stated that the projects will be referred to the City Council for their approval at their May 30 meeting. Both projects involve EDC funds as well as City of Euless general budget funds, so they require City Council approval also. Mr. Hennig reported that City staff has been working very hard on the Shops at Vineyard Village and have reached agreement with Burk Collins on a Memorandum of Understanding. A full contract will be developed in June for the City Council's approval regarding incentives, but that agreement will not involve any EDC funds. Mr. Hennig reported that in the residential arena, interest in town homes is a very hot topic. Developers are requesting approval on four areas of prime property in the City at this time. He said he believed the key to their long term success was a strong Homeowners Association, but that Public Improvement Districts (PID) can also be useful to accomplish their success. Bill Ridgway stated that the owners of the old Kmart building have some prospects for the property, but the SH157 traffic counts have not been high enough for them to draw some of the tenants they would like to have. He said the Euless Town Centre people are working with a large user for the former Burlington Coat Factory location. He also reported that DFW Airport is planning a service-type industry with fast food adjacent to the car rental facility. Joe Hennig introduced Kate Lyon, the new Library Administrator. He stated that she is a Euless resident and former employee who has worked for the cities of Farmers EULESS DEVELOPMENT CORPORATION MAY 15,2006 PAGE 4 Branch and Arlington in the last few years. He said he was pleased to have her back. ADJOURN There being no further business before the Board, the meeting was adjourned at 6:40 p.m. APPROVED: ATTEST: Mary Li aleh S san Cri Chairman Secretary