HomeMy WebLinkAbout2000/07/11-Minutes-HEDC City of Fort Worth
City Council
Economic Development Committee
Highlights of the Meeting Held
Tuesday,July 11,2000
Committee Members Present: Jeff Wentworth and Becky Haskin
Other Council Members and Staff Present: Tom Higgins, Fernando Costa, Peter Vaky, Dana Burghdoff,
Gene Foster, and Ardina Washington
1. Call to Order: Chairman Wentworth called the meeting to order at 9:10 a.m.
2. Approval of Minutes from the Meeting held May 16, 2000: Because there was not a quorum present,
Chairman Wentworth delayed the approval of the minutes to the next meeting.
3. Discussion and Consideration of Tax Abatement Application by Cotton Depot, LLC for Cotton Depot
Lofts, 701 E. Fifth Street: Tom Higgins, Economic Development Director, briefly described the project
and then introduced Phillip Poole from Cotton Depot, LLC, who presented information about the proposed
project (see attachment). After discussion, Chairman Wentworth asked Mr. Poole to work with the
Economic Development staff to review and consider increasing the contractor and supply & service
commitments being proposed. Chairman Wentworth directed staff to present the request to the entire
Council if the commitments are increased.
4. Discussion and Consideration of Enterprise Project Application by Valeo Electrical Systems, Inc.
3100 Eagle Parkway: Ardina Washington, Business Development Coordinator, presented a request from
Valeo Electrical Systems, Inc. to become designated an enterprise project (see attachment). Ms.
Washington explained that the Texas Department of Economic Development via an application submitted
by the City of Fort Worth and Valeo makes the enterprise project designation. Ms. Washington also
explained the application requires the City to submit a resolution supporting the designation. Additionally,
Darryl Pratt of Arthur Andersen, representing Valeo, briefly described the company's plans, total capital
investment, and total number of new jobs being created. After discussion, Chairman Wentworth directed
staff to present the request to the entire Council.
5. Review of Proposed Definition of"Central City": Tom Higgins briefly reviewed the collaborative efforts
employed to develop the proposed central city definition. He then introduced Fernando Costa, Planning
Director, who reviewed the logic used to develop the definition, listed current programs that could be
affected by the definition, listed the use of the phrase central city in the Comprehensive Plan, and discussed
the definition (see attachment). It was mentioned that the tax abatement policy could utilize the proposed
central city definition plus all CDBG eligible areas for maximum benefit to Fort Worth citizens. After
discussion, staff was directed to present the definition to the entire Council for approval.
6. Review of Proposed Tax Abatement Policy: Because there was not a quorum present, Chairman
Wentworth delayed the review of the proposed tax abatement policy to the next meeting.
7. Adjourn: Chairman Wentworth adjourned the meeting at 9:57 a.m.
Approved By:
Jeff Wentworth, Chairman