Tax Increment Reinvestment Zone No. One
	Agenda Request
Agenda Of:	april 04, 2008	Agenda Request No:		II A
Initiated By:	Kathy Munoz Executive Secretary	Responsible Department:		City Secretary
Presented By:	Glenda Gundermann, City Secretary	Department Head:		Glenda Gundermann, City Secretary
		Additional Department. Head (s):		N/A
Subject / Proceeding:	Minutes Reinvestment Zone No. One Meeting January 04, 2008 Approve Minutes
Exhibits:	Minutes Reinvestment Zone No. One Meeting January 04, 2008
Clearances			Approval
Legal:	N/A		Executive Director:	Joseph Esch, Business & Intergovernmental Relations
Recommended Action
Approve minutes of Reinvestment Zone No. One Board of Director meeting January 4, 2008.
Exhibits

STATE OF TEXAS	§
COUNTY OF FORT BEND	§
CITY OF SUGAR LAND	§

CITY OF SUGAR LAND

REINVESTMENT ZONE NUMBER ONE

friday, January 4, 2008

REGULAR MEETING

Reinvestment Zone Number One convened in regular meeting open to the public, in Conference Room 161 of Sugar Land City Hall on Friday, January 4, 2008 at 8:04 o'clock a.m. and the roll was called of the members; to wit:

Greg Stirman, Chairman

Robert Treacy, Vice Chairman

Vincent DiCosimo, Secretary

Allen Bogard

Joan Damon

John Gamble

Louis Garvin

Jared Jameson

Fred Fogarty

QUORUM PRESENT

All of said members were present with the exception of Director Bogard, Director Garvin and Director Jameson.

Also present were:

Joseph Esch, Executive Director Business and Intergovernmental Relations

Jennifer Brown, Assistant Fiscal Services Director

Kathy Munoz, Executive Secretary and

A Number of Visitors

CONVENE MEETING

Chairman Stirman convened the session, open to the public, to order at 8:04 o’clock a.m.

minutes

Chairman Stirman introduced consideration on approval of the minutes of Reinvestment Zone Number One meeting held on November 14, 2007.

Following a full and complete discussion, Director DiCosimo, seconded by Director Treacy, made a motion to approve minutes of Reinvestment Zone Number One meeting held on November 14, 2007. The motion carried unanimously.

Sugar Land Town Square

Chairman Stirman introduced discussion on the quarterly report for Sugar Land Town Square.

Mr. Joseph Esch, Executive Director Business and Intergovernmental Relations, stated there is 180,000 square feet of retail space in Sugar Land Town Square with an 80% occupancy rate; the figures do not include the closure of Bombay or new leases for Cigar Cigar or Christopher’s Vintage Shave. There are 160 residential units sold with 100% occupancy, 87% owner occupied. Originally a prohibition was in place on leasing individual units; due to slow sells the developer chose to not enforce the rule. Currently, there is 200,000 square feet of office space; 81% occupied. The number does not reflect what is under construction or pending leases that are awaiting signatures even though they are guaranteed.

Sugar Land Town Square Plaza events have good attendance with the Christmas tree lighting event being the largest. Events fall under three categories: those organized by the Property Owners Association (POA), those that are city sponsored, and others such as the Agha Khan Partnership Village event and the India Festival of Lights event. There are some issues surrounding events with an attendance of 3000 people and higher due to the need for street closure, added security and the impact to retail. The POA and Sugar Land Parks Department are working on developing stricter guidelines to determine what level of events will be allowed in the plaza. Because some event planners do not expect large turnouts or their expected attendance changes due to additional advertising, in the future, events over a specific number will not be allowed and applications for larger events will have to be submitted well in advance to plan for security.

An eight story office building and expansion of the Lone Star Garage is currently under construction, with a major tenant to occupy 120,000 square feet of space; a potential two story office building is being considered for a space on Site I, which will require expansion of the Texas Garage.

The developer has placed Sugar Land Town Square on the market for sale to maximize through timing the investment; a corporate decision rather than a direct correlation to the strength of the property.

A children’s museum provides an opportunity to bring cultural activities into the city due to the positive response from the public and retailers during the 2007 summer trial lease; a long term lease is being considered. City Council has expressed a desire to work with the museum; there is interest from other museums to open satellite locations in Sugar Land.

The two kiosks located in Town Square are doing well; hotel occupancy is up, outside services have been used to assess hotel occupancy and collection rates across the area. Another full service hotel has expressed interest in locating in Lake Pointe, which would enhance the use of conference rooms at the Marriott.

Mr. Esch responded to a question as to whether there had been complaints or compliments by retailers regarding major events sponsorship by saying that the greatest concern has been ensuring public safety; the response varies by types of retailer.

Police and management control has had a positive affect on teen age groups and related problems; recent arrest of vandals who were required to make restitution raised the level of enforcement awareness and accountability for actions. Parking garage cameras are being used to monitor activities.

CITY STAFF REPORT

Mr. Joseph Esch, Executive Director, commented that Sugar Land Memorial Park is being well utilized and the city is excited about the opportunities the site represents; staff is working with A&G Entertainment Group and the University of Houston to bring a 6500 seat auditorium to the park for concert venues. The City staff is working on design of the new recreation center and working with consultants on the Imperial Sugar development.

BOARD OF DIRECTORS REPORTS

There were no reports.

ADJOURN

There, being no further business to come before Board, Director DiCosimo, seconded by Director Treacy, moved that the meeting adjourn. The motion carried unanimously and the meeting adjourned, time at 8:51 o'clock a.m.

Greg Stirman, Chairman of the Board

Vincent DiCosimo, Secretary

(SEAL)