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2004 03 04 MDD Minutes MINUTES OF THE MEETING OF THE BAYTOWN MUNICIPAL DEVELOPMENT DISTRICT 110 March 4, 2004 4:30 p.m. • The Board of Directors of the Baytown Municipal Development District met on March 4, 2004, at 4:30 p.m. in the Council Chamber of the Baytown City Hall, 2401 Market Street,Baytown,Harris County, Texas with the following in attendance: Coleman Godwin Director Fritz Lanham Director Calvin Mundinger Director Don Murray Director Mercedes Renteria lII Director Terry Sain Director Scott Sheley Director Pete Alfaro President Gary Jackson General Manager Ignacio Ramirez, Sr. General Counsel Gary W. Smith Assistant Secretary Absent: Ronnie Anderson Vice-President Leonard Stasney Director The meeting was opened with a quorum present after which the following business was conducted: Consider approval of the minutes of the meeting held on February 5, 2004. Director Murray moved approval of the minutes of the meeting held on February 5, 2004. Director Godwin seconded the motion. The vote follows: Ayes: Directors Godwin, Lanham, Mundinger,Murray,Renteria, and Sain President Alfaro Nays: None Abstentions: Director Sheley. The motion carried. Receive and discuss a report from Baytown/West Chambers County Economic Development Foundation (EDF) on services being performed pursuant to contract with the Municipal Development District. Gary Jackson, General Manager, explained that through a contract with the Baytown/West Chambers County Economic Development Foundation, services are performed for the District. The Executive Page 2of3 Minutes of.the Regular Meeting—March 4,.2004 Director provides reports on projects of the EDF. The report in the packet is on all projects of the EDF. The presentation at the meeting will concern MDD projects only. • Mike Shields, Executive Director of the Baytown-West Chambers County Economic Development _ Foundation reported that the EDF receives two sources of funding from the District. One contract provides for general economic development services. The other contract provides funding for special projects. The funding for the general tasks is used to provide the routine and on-going functions of the EDF. These include technical assistance (working with companies considering moving to the area and those currently located here—assistance was provided to 26 companies, 3 are active and 1 selected the area), inventory of land and buildings including infrastructure availability, data gathering and analysis, identification of federal,state and local regulatory agencies, identification of federal, state and local incentives, coordination with the City, and referral to other organizations for small and start-up businesses. The special projects being conducted by the EDF for the District include economic development services provided to the District and Chambers County, economic development marketing services (materials and trade shows),infrastructure development at Cedar Crossing, continuation of the tax study, serving as an area-wide repository/clearinghouse of socio-economic data,Bayou Bowl, and development of the economic development strategic plan. Director Allen arrived at 4:49 p.m. Consider Proposed Resolution No. 040304-1, approving an interlocal agreement with the City of Baytown to provide funding for debt service for the Northeast Wastewater Treatment Plant. Proposed Resolution No. 040304.-1 approves an interlocal agreement with the City of Baytown to provide funding for debt service for the Northeast Wastewater Treatment Plant. The budget for the District includes funding for 60% of the anticipated cost of the project, or$10,800,000 of a total anticipated cost of$18,000,000. The 2004 budget includes funding for the design of the plant ($1,200,000). The 2004 budget also includes the first year's principal and interest payment.on 20-year financing. The design is expected to take between 12 and 18 months to complete. The construction time is expected to take 24 months. The plant is scheduled to be fully operational by fiscal year 2008. The City is able to obtain more attractive financing through a single issuance of debt. The City will realize lower interest rates and a cost savings. The District revenues will not be pledges as security for the debt,but will be used to pay the debt service. Director Sain moved approval of the proposed resolution. Director Sheley seconded the motion: The vote follows: Ayes: Directors Allen, Godwin, Lanham, Mundinger,Murray, Renteria, Sain and Sheley . President Alfaro Nays: None The motion carried. . . Page 3 of 3 Minutes of the Regular Meeting—March 4, 2004 Consider the date/time of the April 2004 meeting. 411 No action was taken to change the date or time of the April 2004 meeting. General Manager's report. Mr. Jackson reported that the sales tax receipts for the District for the fiscal year were 0.04%below the same period last year. The change is $461. In October the sales tax was up 6%;November, up 3%, December, down 8.7%, and January, down 1.4%, compared to the same months of the preceding fiscal year. Adjourn. Director Mundinger moved adjournment. Director Murray seconded the motion. .The vote follows: Ayes: Directors Allen, Godwin, Lanham, Mundinger, Murray, Renteria, Sain, and Sheley President Alfaro Nays: . None. The motion carried. There being no further business, the meeting adjourned at 5:17 p.m. Ili ____,,, a., ..... Gat, mith, Assistant Secretary