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Home My WebLink About2005/06/14-Minutes-Fort Worth Local Development Corporation (FWLDC) CITY OF FORT WORTH, TEXAS FORT WORTH LOCAL DEVELOPMENT CORPORATION CALLED—SPECIAL SESSION MINUTES TUESDAY,JUNE 14, 2005 Present: Treasurer Clvde Picht Director Mike Moncrief Director Chuck Silcox Director Salvador Espino Director Becky Haskin Director Donavan Wheatfall Director Carter Burdette Director Kathleen Hicks Absent: Vice President Wendy Davis Cih, staff: Assistant City Manager Dale Fisseler City Attorney David Yett Assistant City Attorney Cynthia Garcia City Secretary Marty Hendrix Economic and Community Development Director Tom Higgins Guest: Boyd London, City's bond consultant with First Southwest Other City staff in attendance included- City Manager Charles Boswell Assistant City Manager Joe Paniagua Acting Assistant City.Manager Richard Zavala Finance Director Jim Keyes Public Information Officer Eileen Houston-Stewart City Auditor Costa Trianta-philides I - Call to Order (Agenda Item 1) CITY OF FORT WORTH, TEXAS FORT WORTH LOCAL DEVELOPMENT CORPORATION CALLED—SPECIAL SESSION MINUTES TUESDAY,June 14,20€15 Page 2 With a quorum of the new Board Members present, Treasurer Picht called the meeting to order for the Board of Directors of the Fort Worth Local Development Corporation at 21:210 pm. on Tuesday, June 14, 2005, in the Pre-Council Chamber of the Fort Worth Municipal Building, 1000 Throckmorton, Fort Worth, Texas. Overview of Fort Worth Local Development Corporation (Agenda Item 11) Assistant City Attorney Cynthia Garcia presented a PowerPoint Presentation to the Board, which provided for an overview of the Fort Worth Local Development Corporation. She explained that it was created in 1987 and originally proposed to be created for two Economic Development Administration (EDA) grants for the Stockyards area. She added that the City Council then determined it was best to operate the Local Development Corporation city-wide to address economic development concerns. She advised of the creation of the Articles of Incorporation. Assistant City Attorney Garcia explained that per the Articles, the Local Development Corporation was created as a non- profit corporation, with perpetual duration. She added that the Corporation is to be administered solely for the benefit of the City of Fort Worth by providing direct or indirect assistance through whatever means are determined by the Board of Trustees. She reviewed the permitted activities of the Corporation. Assistant City Attorney Garcia stated those were to finance infrastructure improvements, making loans, grants, or other forms of financial assistance available to qualified applicants relating to job creation and economic development. She added that the Corporation could own property and pointed out that the Corporation does now own property, which is the Fruehauf property and the City leases the property to the American Eagle Motorcycle Company. Director Burdette requested clarification on where the money comes from that the Corporation has currently. Assistant City Attorney Garcia pointed out that it comes from the lease on the owned property, which is $44,000 per month. Assistant City Attomey Garcia reviewed the prohibited activities. She stated that the earrings of the Corporation cannot benefit a private indivIldual, except when paying reasonable compensation for services rendered- She added the Corporation cannot attempt to influence legislation, cannot participate in political carnpaigns, and cannot influence the outcome of an election. She the advised of the Corporation's current activities as "olio s: CITY OF FORT WORTH, TEXAS FORT WORTH LOCAL DEVELOPMENT CORPORATION CALLED—SPECIAL SESSION MINUTES TUESDAY,June 14, 2005 Page 3 Grants to the City for: • Market Feasibility Study for Evans and Rosedale • Internal Project Implementation Phase of the Trinity River Vision Plan • Funding two staff positions for the Local Development Corporation and the Tax Increment Districts • Master Planning and Architectural Design Work for Evans and Rosedale • Own Property Leases Property There was no further discussion on this item. Election of Officers—President, Vice President, Secretary, Treasurer (Agenda Item 111) Treasurer Picht opened the floor for nominations to the officer positions of President, Vice President, Secretary and Treasurer. Director Haskin made the following nominations: President—Director Wendy Davis Vice President—Director Chuck Silcox Secretary - Director Becky Haskin Treasurer—Director Salvador Esping MOTION: Upon a motion made by Director Burdette and seconded by Director Haskin. the Board of Directors of the Fort Worth Local Development Corporation voted eight (8) "ayes" and no (0) "nays" to close the nominations and elect by acclamation: Director Wendy Davis as President; Director Chuck Silcox as Vice President. Director Becky Haskin as Secretary; and Director Salvador Espino as Treasurer. The motion carried, Treasurer Picht turned the meeting over to Vice President Silcox. (. gerda Item IV) Vice President Silcox opened the floor for a motion on the approval of the minutes of the Tuesday, March 29, 21005 meeting, CITY OF FORT WORTH, TEXAS FORT WORTH LOCAL DEVELOPMENT CORPORATION CALLED— SPECIAL SESSION MINUTES TUESDAY,June 14, 2005 Page 4 MOTION: Upon a motion made by Director Moncrief and seconded by Director Wheatfall, the Board of Directors voted eight (8) "ayes" and no (0) "nays" to approve the March 29, 2005 minutes as presented. The motion carried. Vice President Silcox adjourned the called — special session of the Fort Worth Local Development Corporation into Executive Session in accordance with the requirements of the Texas Open Meeting Act at 2:25 p.m. Executive Session (Agenda Item V) In accordance with Chapter 551 of the Texas Government Code, the Fort Worth Local Development Corporation Board convened into Executive Session at 1:46 p.m. in the Pre- Council Chamber of the Fort Worth City Hall, 1000 Throckmorton, in order to discuss the following: A. See the advice of its attorneys concerning legal issues regarding any current agenda items that are exempt from public disclosure under Article X, Section 9 of the Texas State Bar Rules, as authorized by Section 551.071 of the Texas Government Code; and B. Discuss the purchase, sale, lease or value of real property, as authorized by Section 551.072 of the Texas Government Code. Deliberation in an open meeting would have a detrimental effect on the position of the City in negotiations with a third party: and C. Discuss or deliberate negotiations relating to any other economic development negotiations, as authorized by Section 551.087 of the Texas Government Code. The Executive Session was adjourned at 2:55 p.m. Adoption of Resolution Authorizing a Six Month Lease with Marcus Cable Associates, LLC., dba Charter Communications for Parking Spaces Located at 4700 Blue Mound Road (Agenda Item VI-A) Vice President Silcox reconvened the called — special session of the Fort Worth Local Development Corporation at 2-55 p,rn, Vice President Silcox reclused himself ftom discussion and consideration of this agMda i-tem. He tum the meeting over to Secrenaly 11askin, CITY OF FORT WORTH, TEXAS FORT WORTH LOCAL DEVELOPMENT CORPORATION CALLED—SPECIAL SESSION MINUTES TUESDAY,June 14, 2405 Page 5 Assistant City Attorney Cynthia Garcia presented to the Board the proposed resolution authorizing the continuance of the six (6) month lease with Marcus Cable Associates, LLC, dba Charter Communications for parking spaces located at 4700 Blue Mound Road. MOTION: Upon a motion made by Director Espino and seconded by Director Burdette, the Board voted seven (7) "ayes", no (0) "nays" and one (1) abstention from Vice President Silcox, to approve Resolution No. LDC 2005-03, that authorizes a six- month lease agreement with Charter for parking spaces located at 4700 Blue Mound Road. The motion carried. Secretary Haskin turned the meeting back over to Vice President Silcox. Resolution Authorizing the Hiring of First Southwest and Pati Meadows with Kelly Hart & Hallman on Real Estate Issues Regarding the Property Located at the Intersection of Blue Mound Road and Meacham Boulevard (Agenda Item VI-B) Assistant City Attorney Cynthia Garcia presented to the Board the proposed resolution authorizing the hiring of First Southwest and Pati Meadows with Kelly Hart and Hallman on real estate issues regarding the property located at the intersection of Blue Mound Road and Meacham Boulevard. MOTION: Upon a motion made by Director Haskin and seconded by Director Espino, the Board of Directors voted eight (8) "ayes" and no (0) "nays"to approve Resolution No. LDC 2005-04, that authorizes hiring of First Southwest and Pati Meadows with Kelly Hart & Hallman on real estate issues regarding the property located at the intersection of Blue Mound Road and Meacham Boulevard and authorizes payment of an arnount not to exceed $20,000 to provide expert advise for this transaction. The mot-ton carned, A(jYourn (Agenda Item V11) With no further business before the Board, Vice President Silcox adjjourned the called — special session of the Fort, Worth Local Development Corporation at 2:59 p.m. on Tuesday. June 14, 20 515 CITY OF FORT WORTH,TEXAS FORT WORTH LOCAL DEVELOPMENT CORPORATION CALLED—SPECIAL SESSION MINUTES TUESDAY,June 14,2005 Page 6 These minutes approved by the Fort Worth Local Development Corporation on the 28th day of June, 2005. APPROVED: Wendy R. Davis j) President ATTEST: Becky Haskin Secretary Prepared and respectfully submitted by: My Hendrix, T C/ City Secretary