HomeMy WebLinkAboutMin - Economic Development Corporation - 2004 - 02/18 - RegularALLEN ECONOMIC DEVELOPMENT CORPORATION (AEDC)
BOARD OF DIRECTORS
REGULAR MEETING
FEBRUARY 18, 2004
Board:
Staff:
Others:
Jim Brazeal
Charisse Reaume
Mark Pacheco
Ken Folk
Jennifer Grimm
Philip Williams, Amy Monier, Scott White
Kurt Kizer
Marvin Shelley
Maxine Sweet
Al Salem, Jim McKee, Derek Albertson
Tim Wood
Mardy Brown, Shirley Cohen, Patti Hansen
Call to Order and Announce a Oumum Present.
With a quorum of the Board present, the Regular Meeting of the Allen Economic Development
Corporation (AEDC) was called to order by President Jim Brazeal at 6:15 p.m. on Wednesday,
February 18, 2004 at the Old Farm House on Montgomery Farm. President Jim Brazeal thanked
Philip Williams and Amy Monier for hosting the meeting at their facility. The following items were
discussed:
Presentation by Sheila McKinney. President of Presbyterian Hospital of Allen, on the Planned
Expansion of the Hospital and Medical Office Building.
Sheila McKinney, President of Presbyterian Hospital of Allen, gave a presentation on the planned
expansion of the hospital. She displayed renderings that depicted the various construction elements.
Presbyterian plans to expand the hospital facility with an additional 35,000 square feet that will
accommodate space for emergency rooms, ICU, imaging, surgical/medical beds, and LDRP rooms.
The hospital will also go from a Level I nursery to a Level 2, which will handle baby deliveries from
34 weeks gestation and up. The cost for the hospital expansion is $13.9 million. The majority of the
funds will come from tax exempt bonds; however, the hospital will begin a capital campaign to mise
approximately $2 million.
In addition to the hospital expansion, Cambridge Holdings will begin construction on a 60,000 square
foot medical office building that will be attached to the existing medical office space. This component
is not part of the hospital capital campaign. Cambridge will own and develop the space with the
hospital holding a ground lease and having oversight in the selection of physicians. Presbyterian -Allen
currently has 260 physicians on staff.
Following discussion, the general consensus of the AEDC Board was that they would be open to
Presbyterian appearing before the Board at a later date for the consideration of incentives to assist in
the infrastructure costs for the development of the hospital portion of the project.
Update on Development Plans for Montgomery Farms.
Amy Monier, Emerson Partners, gave an overview of the development vision for the property, which
is located on the Southside of Bethany Drive between US 75 and Alma Drive and on the northside of
Bethany Drive adjacent to Watters Crossing. She gave the history of the property and explained how
the group has used the assistance of artists in the design of Bethany Drive and other elements in the
project. Ms. Monier discussed their plans to utilize the "clustering" of homes with wide open spaces.
Allen Economic Development Corporation
Regular Meeting, February 18, 2004
Page 2
The fust phase of development will occur on the northside of Bethany Drive (around Norton
Elementary). The group is also developing a marketing plan and site plan for the commercial property
located at the southwest corner of Bethany Drive and US 75. Their initial plan includes seeking the
formation of a Tax Increment Financing zone. Ms. Monier expressed the group's emphasis on securing
developers that will design facilities that are architecturally significant.
Convene into Closed Executive Session.
The Board convened into closed executive session at approximately 7:15 p.m. to discuss commercial
and financial information and economic incentives in support of the development of a hotel, retail, and
office development in the northwest quadrant of Bethany Drive and Greenville Avenue.
Reconvene into Regular Session.
The Board reconvened into regular session at approximately 8:20 p.m.
Consider and take Action for the Approval of Incentives in Support of the Development of a Hotel.
Retail and Office Development in the Northwest Ouadram of Bethany Drive and Greenville Avenue.
On a motion by Ken Fulk, seconded by Maxine Sweet, the Board agreed that they are willing to
consider infrastructure assistance for the project (that includes a 6 -story hotel and adjacent restaurant)
in a range from $30,000 - $60,000 with the AEDC having review of the lighting, landscaping and
architectural plans for the project. The level of incentives will be determined once the developer is able
to present final plans (including roads) to the Board at a future Board meeting. The Board stated it
would not consider a recommendation for tax abatement for the project.
Approve Minutes of the January 21 2004 Regular Meeting of the AEDC Board of Directors
The minutes of the January 21, 2004 Regular Meeting of the AEDC Board of Directors were approved
as submitted on a motion by Maxine Sweet, seconded by Ken Fulk.
Consider and take Action Regarding the Selection of Landscaping and Irrigation Maintenance and
Services for Millennium Corporate Center.
The Board considered proposals from four landscaping/irrigation companies including Hadden,
TruGreen, TechScape and Iguana Lawn. Following discussion and on a motion by Maxine Sweet,
seconded by Kurt Kizer, the Board approved Hadden Landscaping for landscaping and irrigation
maintenance and services for Millennium Corporate Center; authorizing Jim Brrszeal to execute the
appropriate documents. The Board also indicated they would be willing to consider seasonal color and
landscaping enhancements proposed by Hadden Landscaping at the March meeting.
Allen Economic Development Corporation
Regular Meeting, February 18, 2004
Page 3
Consider and take Action for the Widening of Approximately.2 miles of Bethany Drive. from Four
Lanes to 6 Lanes. Extending West of US 75.
Cost information was provided to the Board for the widening of Bethany Drive adjacent to Millennium
Corporate Center. The approximate cost of the expansion is $193,970 including contingency. It was
explained that the City currently has a contractor (McMahon Contracting, Inc.) engaged in the
expansion of Bethany Drive east of US 75 and there may be possible cost savings by using this vendor
now rather than waiting until later. Because McMahon is in the final stage of completing their project
a decision would need to be made in the next few weeks, otherwise "mobilization" charges could be
incurred. It was explained that the remaining two lanes of Bethany Drive are a cost that the City would
be responsible for; however, it is not a project on the City's plan for the foreseeable future. The AFDC
could fund the project as an improvement enhancing Millennium Corporate Center.
The Board discussed the issue and the general consensus was that the Board is open to the concept of
funding the project if there are cost savings. Tim Wood expressed that while he is not opposed to
doing the project, he is opposed to using the suggested contractor. The Board gave staff the direction
to visit with the City Engineer and explore options quickly with another contractor that is doing work
in the City now (or in the near future) and that would be willing to add this project at the same amount
proposed by McMahon. The Board indicated its willingness to meet in a Special Called Meeting if
necessary to vote on the matter, pending the outcome from the City Engineer.
Approval of AEDC Financial Reports.
Charisse Resume presented the financial statements as of January 31, 2004. The financial report was
approved on a motion by Ken Falk, seconded by Maxine Sweet.
Discuss Administrative and Marketing Activities of the AEDC.
Jennifer distributed a chart illustrating Allen's total tax rate compared with other communities in the
Dallas area. The Board was updated on current activities including the status of the development on
the Ridgemont tract. The developer met with the AEDC subcommittee and proposed a `wish list" that
it plans to present to the Board at a future meeting.
Scheduling of Next AEDC Board of Directors Meeting,
The next board meeting was scheduled for Wednesday, March 17, 2004 at 6:00 p.m. Maxine Sweet
indicated she will be out of town on that date.
Ad!ourn.
On a motion by Ken Fulk, seconded by Maxine Sweet, the meeting was officially adjoumed at
9:25 p.m.
Allen Economic Development Corporation
Regular Meeting, February 18, 2004
Page 4
These minutes approved this 17`" day of March, 2004
,m Brazeal, President k6nneth Fulk, Secr tary