HomeMy WebLinkAbout1999/06/29-Minutes-HEDC Highlights of the
Tuesday, June 29, 1999
Economic Development Committee Meeting
I. STANDING ITEMS
II. NEW BUSINESS
A. Presentation of Tax Abatement Audit Findings and Recommendations
Tom Higgins, Economic Development Director went over a presentation outlining the findings of
the audit of the 1998 performance of tax abatement companies. A copy of the presentation and a
complete report on the audit is attached.
Highlights of the findings included the fact that for the first time in the tax abatement program,
M/WBE overall commitments were met in the supply and service category. Additionally, it was
found that seven companies had technically missed commitments associated with their respective
agreements. The EDC voted to reduce three of the abatements for the 1999 tax year based on these
findings. These included Tech Data, Bank One (Dunbar Branch) and Star Uniform. The committee
directed staff to send the report to the full City Council along with their recommendations.
Before adjourning the meeting the committee discussed items to be addressed on the next agenda.
Those items included a report on airport development, a update on the convention center, an update
on the Heritage Center development, information on the M/WBE certification process and
information on the Guinn Scool development.