February 20, 2020 EDC Minutes
- Thursday, Feb 20 2020
- 6:00 p.m.
- City Hall (Pre-Council Room) - 5024 Broadway Ave. | Haltom City, TX 76117
- PDF version:
Board of Directors - Haltom City Economic Development Corporation
City Hall Pre-Council Chambers
5024 Broadway Ave.
February 20, 2020
A Regular Meeting was held by the Board of Directors of the Economic Development Corporation (EDC) on Thursday, February 20, 2020, at the City Hall Pre-Council Chambers with the following members present: Vice President Gary Blocker; Board Members Walter Grow, Brent Weast, Don Jury and Troy Dunn. Board President Ricky Brown and Board Member Daren Hudson were absent. Staff Members present: EDC Director Rex Phelps, Assistant City Manager Sidonna Foust, City Secretary Art Camacho, and City Attorney Wayne Olson.
CALL TO ORDER
Vice President Blocker called the meeting to order at 6:00 p.m.
EDC Minutes – Consideration and/or action to approve the Minutes of the January 16, 2020 EDC Regular Meeting. Board Member Grow moved, seconded by Board Member Dunn, to approve the Minutes of the January 16, 2019 EDC Regular Meeting. The vote was unanimous. Motion carried.
Finance Report – Discussion of the monthly Finance Report. Assistant City Manager Sidonna Foust presented the monthly finance report. No questions were asked.
Development Plan Offer – Consideration and/or action to approve an offer and a development plan on the EDC property at 5101 Haltom Road by HiRise Partners, LLC. EDC Director Phelps stated the company desiring to make the offer was not present this evening. Board Member Grow moved, seconded by Board Member Dunn, to table this item until the next EDC meeting. The vote was unanimous. Motion carried.
Development and Contract Renewal – Consideration and/or action to approve Vaquero Ventures proposed changes to the existing Development Plan and Contract Sale of EDC property located as 4101 Old Denton Road. Zach Penn and Eric Walsh presented the agenda item and W. A. Landreth of Vaquero Ventures addressed the offer that included site plans, building designs, masonry, and deadline feasibility of April 20, 2020, and then proceed for another sixty days. A discussion concerning the purchase amount, environmental issues, and legal aspects for an additional extension was held. Vice President Blocker agreed to go forward into Executive Session to consider the EDC options and the next agenda item was discussed.
LOI Development - Consideration and/or action to approve purchase of 5520 and 5540 NE Loop 820. Zach Penn spoke representing Mike Patel concerning a Letter of Intent (LOI) and a discussion was held regarding the hotel representation, interior construction, parking, and inside room pathways.
Vice President Blocker called for an Executive Session at 6:28 p.m. in regard to the following:
The Board will meet in closed session pursuant to the referenced sections of the Texas Govt. Code. Section 551.071 – Consultation with the EDC Attorney. The Economic Development Corporation reserves the right to adjourn into Executive Session at any time during the course of this meeting to seek legal advice from the EDC Attorney about any matters listed on the agenda, dissolution/restructuring of the Haltom City Economic Development Corporation, Chapter 380 development agreement with Haltom Hospitality, LLC, and litigation, settlement offers and/or claims including Flynn v. Haltom City.
Section 551.072 – Real Property. Deliberation regarding the purchase, exchange, lease, or value of real property owned by the Economic Development Corporation.
RECONVENE INTO REGULAR SESSION
The Board reconvened into Regular Session at 6:35 p.m. A discussion was held with Mr. Landreth toward lowering the reimbursement to $65,000 from $125,000, in return for an additional sixty days for Vaquero and it will have to be determined by them and their legal staff. Mr. Landreth agreed to the $7,500 reimbursement back to the EDC for an extension of sixty days. Board Member Grow moved, seconded by Board Member Weast, to provide a sixty day extension to Vaquero with $7,500 earnest money and have the executor to come back with the $65,000 reduction to set the max for any potential environmental cleanup that is required of the half of what was spent. The vote was unanimous. Motion carried.
The EDC Board Members would also like to hold off until a meeting with Catalyst is held before determining action on Agenda Item #5. Board Member Grow moved, seconded by Board Member.
EDC Bylaws – Discussion concerning the EDC By-laws. Board Member Dunn requested a discussion over the EDC Bylaws, in particular the admittance of a member to the Board who is not a Haltom City citizen and could have a conflict of interest. A discussion was held concerning the benefits of having a business-capable non-citizen member bringing information from the area where they operate. The termination of the EDC in July 2020 could also bring about an Economic Development Board, unlike the EDC, and the by-laws could still be effective then. A discussion was held regarding the future status of the EDC after the May General Election.
Vice President Blocker adjourned the meeting at 7:46 p.m. RESPECTFULLY SUBMITTED BY: APPROVED BY:
Art Camacho, City Secretary Ricky Brown, President
Haltom City EDC Minutes – February 20, 2020 Page 2