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Sugar Land Development Corporation |
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Agenda Request |
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Agenda Of: |
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Agenda Request No: |
ii-a |
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Initiated By: |
Donna Vaughan, Records Manager |
Responsible Department: |
City Secretary |
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Presented By: |
Glenda Gundermann, City Secretary |
Department Head: |
Glenda Gundermann, City Secretary |
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Additional Department. Head (s): |
N/A |
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Subject / Proceeding: |
Minutes Sugar Land Development Corporation Meeting October 3, 2006 Approve Minutes |
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Exhibits: |
Minutes October 3, 2006 |
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Clearances |
Approval |
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Legal: |
N/A |
Executive Director: |
Joseph Esch, Business & Intergovernmental Relations |
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Recommended Action |
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Approve the minutes
of the Sugar Land Development Corporation meeting October 3, 2006. |
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Exhibits |
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STATE OF TEXAS |
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COUNTY OF FORT BEND |
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CITY OF SUGAR LAND |
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CITY OF SUGAR LAND
Sugar Land Development Corporation MEETING
OCTOBER 3, 2006
REGULAR MEETING
The Sugar Land Development Corporation convened in regular meeting open to the public, in the Cane Room 161 of Sugar Land City Hall on October 3, 2006 at 4:30 P.M. and the roll was called of the members to wit:
Dennis Parmer, President
Daniel Wong, Vice-President
Michael Schiff, Secretary/Treasurer
Cyril Hosley, Director
David Wallace, Director
Thomas Abraham, Director
Russell Jones, Director
QUORUM PRESENT
All of said members were present except Director Thomas Abraham.
Also present were:
Allen Bogard, City Manager
Regina Morales, Economic Development Director
Mr. Joseph Esch, Executive Director Business and Intergovernmental Relations
Donna Vaughan, Records Manager and
A Number of staff and visitors
CONVENE MEETING
President Parmer convened the session, open to the public, to order at 4:41 o’clock P.M.
ELECTION OF OFFICERS
President Parmer introduced election of a Corporation President, Vice-President, Treasurer and Secretary.
Ms. Regina Morales, Economic Development Director, stated current offices are Director Dennis Parmer, President; Director Daniel Wong, Vice President; and Director Michael Schiff, Secretary/Treasurer. The bylaws provide that two or more offices may be held by the same person except for the offices of President and Secretary. All Board members are eligible to hold any office.
The Board discussed the reappointment of current officers with all members concurring.
Following a full and complete discussion, Director Hosley, seconded by Director Wallace, made a motion to approve election of Director Parmer for Corporation President. The motion carried unanimously.
Following a full and complete discussion, Director Hosley, seconded by Director Wallace, made a motion to approve election of Director Wong for Corporation Vice-President. The motion carried unanimously.
Following a full and complete discussion, Director Hosley, seconded by Director Wallace, made a motion to approve election of Director Schiff for Secretary/Treasurer. The motion carried unanimously.
MINUTES
President Parmer introduced approval of the minutes of Sugar Land Development Corporation meeting held September 5, 2006.
Following a full and complete discussion, Director Wallace, seconded by Director Wong, made a motion to approve the minutes of the Sugar Land Development Corporation meeting held September 5, 2006. The motion carried unanimously.
CONTRACTS AND AGREEMENTS
President Parmer introduced consideration on a Contract by and between Sugar Land Development Corporation and Greater Fort Bend Economic Development Council (GFBEDC) in the amount of $30,000.00 for membership services.
Ms. Regina Morales, Economic Development Director, stated the contract with GFBEDC is renewed annually and that the contract amount is budgeted and approved in the Corporation budget. Minor changes were discussed; it was noted that GFBEDC has already signed the contract.
Cost of the contract was discussed and the shared cost with Sugar Land 4B Corporation. Members expressed interest in attending future GFBEDC meetings as observers and requested to be notified of future meetings. Benefits of the contract include a strong, cooperative, cohesive economic development program in Fort Bend County.
Following a full and complete discussion, Director Hosley, seconded by Director Schiff, made a motion to approve a Contract by and between Sugar Land Development Corporation and Greater Fort Bend Economic Development Council in the amount of $30,000.00 for membership services. The motion carried unanimously.
RESOLUTIONS
President Parmer introduced consideration on SUGAR LAND DEVELOPMENT CORPORATION RESOLUTION NUMBER 06-09-02 A RESOLUTION OF THE SUGAR LAND DEVELOPMENT CORPORATION ADOPTING A POLICY ON GRANTING ECONOMIC DEVELOPMENT INCENTIVES TO QUALIFYING COMPANIES.
Mr. Joseph Esch, Executive Director Business and Intergovernmental Relations, presented an overview of the Economic Development Incentives stating that in Section B there are seven qualifications for receiving incentives and that the Corporation has the option to waive qualifications. Qualifications are:
1. The Project must meet the Act’s requirements for receiving incentives as stated in preceding paragraph “A”;
2. The Company will create at least 50 primary jobs;
3. The average annual salary of the primary jobs will be at least $50,000 excluding benefits;
4. The Project will include a minimum capital investment of $10,000,000;
5. The Company receiving the incentives has a credit rating of “A” or equivalent;
6. The Company’s Project will produce economic benefits to the city equal to or greater than total incentives paid to the company within certain time periods.
The policy sets parameters, provides flexibility, and offers guidelines for a successful program.
Following a full and complete discussion, Director Jones, seconded by Director Schiff, made a motion to approve SUGAR LAND DEVELOPMENT CORPORATION RESOLUTION NUMBER 06-09-02 A RESOLUTION OF THE SUGAR LAND DEVELOPMENT CORPORATION ADOPTING A POLICY ON GRANTING ECONOMIC DEVELOPMENT INCENTIVES TO QUALIFYING COMPANIES. The motion carried unanimously.
CITY STAFF REPORT
Mr. Allen Bogard, City Manager, reported that past foreclosure information previously provided to the Corporation consists of mortgage foreclosures only. The information is used to monitor economic problems within the community.
The difference in commercial permit activity between Fiscal Year 2004-2005 and Fiscal Year 2006-2007 is the result of very large buildings in the Town Square project and the Memorial Hermann project.
Mr. Joseph Esch, Executive Director Business and Intergovernmental Relations, stated the grand opening of First Colony Mall new outdoor courtyard is scheduled for October 18, 2006; construction of some of the mall restaurants has been delayed until the first of the year. The Mall parking garage, lighting and landscaping were briefly discussed.
CORPORATE MEMBER REPORTS
There were no reports.
ADJOURN
There, being no further business to come before the Corporation, Director Jones, seconded by Director Wong, moved that the meeting adjourn. The motion carried unanimously and the meeting adjourned, time at 5:10 P.M.
Dennis Parmer, President
Michael Schiff, Secretary/Treasurer
(SEAL)