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1990-09-26SUUTHLAKE: E C O N O M I C D E V E L O P M E N T C O U N C I L Date: September 26. 1990 Location: Southlake City Hall 667 N. Carroll Avenue Present: Rick Wilhelm. Barry Emerson, Virginia Clow, Phyllis Catton. Marvin Cook, and Betty Springer. Absent: Phillip Bressinck, Brad Bradley, Bethann Scratchard, and Mike Thompson. I. CALL TO ORDER Chairman Rick Wilhelm called the meeting to order and established that a quorum was present. II. REVIEW & APPROVAL OF MINUTES Motion by Phyllis Catton, seconded by Barry Emerson, to approve the August 22nd minutes as submitted. Approved. III. TREASURER'S REPORT Marvin Cook reported the check book balance as of September 26. 1990, was $6,270.52. Motion by Virginia Clow; seconded by Barry Emerson to accept the treasurer's report. Approved. IV. OLD BUSINESS a. Economic Profile: Rick Wilhelm met with Georgene Schariff from GTE to critique the economic profile and the tri-panel brochure. She suggested we look at a sample from Bryan -College Station for some additional ideas. She has talked with Andy Brown, her supervisor, and GTE will give us a $3,000. credit line at John Savage Printing for art work preparation to help put together a multi -page brochure. GTE would then be willing to print the brochures for us. b. Community Information Survey: The old survey was discussed. Curtis Hawk had obtained a copy of a Rockwall survey which was more lengthy and specific than what we had in mind for now. Betty will work up a draft copy for members to review. She would like for us to get this out as soon as possible in order to update and validate the statistical information for inquiries to the SEDC and Chamber. r c. Department of Commerce: Rick Wilhelm has gathered some information from the TDOC regarding financing alternatives. Copies had been sent to Barry Emerson, Betty Springer, Phyllis Catton. and Worth Blake previously. Worth is working with Blaine Ferguson from American Flyer Apparel to apply for some of the financing programs. Rick would like for us to really promote TDOC programs in our area. d. Casino Nite: The Chamber's Casino Nite benefiting the "Friends of the Southlake Library" went very well. A chairman for 1991 has already volunteered, and she is already working on ideas for next year. e. American Flyer Apparel: According to Blaine Ferguson, AFA anticipates staving at the Stacy location for about another year. Then they intend to look for a one to one and a half acre site for a 16,000-17,000 square foot facility which would employ about twenty-two people. They would need about 3,000 square feet of office space and the rest in manufacturing and production. Worth has indicated that AFA has completed their TDOC applications and would like to meet with our committee at a future date to solicit our support in their submission. f. European Color Scan: Jim Deaton with RE/MAX had indicated ECS intends to move to a N. Davis Blvd. location. Financing_ is the key at present. Betty has sent him the names of some possible financing sources and will also send him the TDOC information. g. City Tax Rate: Rick reported the new tax rate is 44.5 cents per hundred dollars valuation. Most of the increase is for debt service. V. NEW BUSINESS a. Site Plan/Texas National Bank: The City Council approved the new site plan this past week. It will be a one story building on a 10,000 square foot pad with the ability to add a second story at a later date if desired. There will be about 1,600 square feet of lease space available on the west side of the building. b. Continental Park Sewer: The residents of Continental Park came through with the necessary money to fund their portion of the sewer project. The city had set a goal of $104,000. from the residents in order to start the project. Construction should start in the next couple of months. Betty reported the S-6 line is currently being installed thru Diamond Circle Estates and Mission Hill Estates leading up to Chapel Downs and then on thru Summer Place, across 114, and up to Carroll Road. The N-line should open up some areas along Highway 114 for commercial development. Rick reported there is a very strong possibility the Circle T Ranch will be sold, and how that develops will certainly have an effect on Southlake. c. City's Bond Rating: Our bond rating has continued to hold steady. The only concern of the rating firm was our rapid growth will require major infrastructure and resultant debt. d. 90-91 Final Budget: Marvin Cook had to leave at this time. Betty presented a recap of the 89-90 budget and expenditures to date and a copy of a proposed budget for 90- 91. After review and discussion. a motion was made by Phyllis Catton, seconded by Barry Emerson to approve the proposed budget with an amendment to the salary figure increasing it to $9,900. An attempt to contact the absent SEDC members via phone resulted in reaching only Phillip Bressinck. The motion was approved on a 4-0-1 vote via,a teleconference with Phillip. He abstained due to not being present for the entire discussion. VI. SET NEXT MEETING The next meeting will be October 24, 1990 at 8:30 am at Southlake City Hall. VII. ADJOURNMENT Meeting adjourned.