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HomeMy WebLinkAbout1998.01.08_OEDA Agenda PUBLIC NOTICE OF THE MEETING OF THE OWASSO ECONOMIC DEVELOPMENT AUTHORITY TYPE OF MEETING: DATE: TIME: PLACE: Regular January 8, 1998 10:00 a.m. Owasso City Hall Lower Level Conference Room 207 S Cedar, Owasso, Oklahoma Notice and agenda filed in the office of the City Clerk and posted on the City Hall bulletin board at 9:00 a.m. on Monday, January 5, 1998. Robert Tobias, Economic evelopment Director AGENDA 1. Call to Order 2. Roll Call 3. Request Approval of the Minutes of December 11, 1997 Regular Meeting. Mr Enzbrenner Attachment #3 OWASSO ECONOMIC DEVELOPMENT AUTHORITY JANUARY 8, 1998 PAGE 2 4. Request Approval of Claims. Mr Enzbrenner Attachment #4 5. Presentation of Financial Report. Ms Bishop Attachment #5 6. Report from Economic Development Director Mr Tobias 7. Unfinished Business 8. New Business 9. Adjournment OWASSO ECONOMIC DEVELOPMENT AUTHORITY MINUTES OF REGULAR MEETING December 11, 1997 PRESENT ABSENT STAFF PRESENT Frank Enzbrenner Rodney Ray Gary Akin Sherry Bishop Brian Smith Robert Carr Mark Wilken Marsha Hensley Tom Kimball Alan Anderson Brenda Lawrence ITEM 1: CALL TO ORDER Chairperson Frank Enzbrenner called the meeting to order at 10:09 AM and declared a quorum present. ITEM 2: ROLL CALL Ms. Julie Warren from INCOG was introduced to the Authority. ITEM 3: REQUEST APPROVAL OF MINUTES OF NOVEMBER 13, 1997 REGULAR MEETING AND NOVEMBER 18 1997 SPECIAL MEETING Motion was made by Mr. Anderson and seconded by Mr. Wilken, to approve the minutes of the November 13, 1997 regular meeting and November 18, 1997 special meeting. A vote on the motion was recorded as follows: Anderson - Yes Smith - Yes Lawrence - Yes Akin - Yes Kimball - Yes Enzbrenner - Yes Wilken - Yes The motion carried 7 -0. ITEM 4: REQUEST APPROVAL OF CLAIMS Mr. Kimball moved to approve the current claims in the amount of $26,662.33 to Brown Construction Company. Motion was seconded by Mr. Kimball. A vote on the motion was recorded as follows: OWASSO ECONOMIC DEVELOPMENT AUTHORITY December 11, 1997 Page No. 2 Anderson - Yes Smith - Yes Lawrence - Yes Akin - Yes Kimball - Yes Enzbrenner - Yes Wilken - Recuse The motion carried 6 -0. ITEM 5: PRESENTATION OF FINANCIAL REPORT Report was given by Ms. Bishop. ITEM 6: CONSIDERATION AND APPROPRIATE ACTION RELATING TO AN APPLICATION FOR PAYMENT FROM BROWN CONSTRUCTION COMPANY IN THE AMOUNT OF $26.662.33. FOR CONTRACTED WORK COMPLETED AT THE ONG WORK CENTER PROJECT. Mr. Enzbrenner presented the item to the Trustees. Mr. Anderson moved, seconded by Mr. Smith, to approve an application for payment in the amount of $26,662.33 to Brown Construction. A vote on the motion was recorded as follows: Anderson - Yes Smith - Yes Lawrence - Yes Akin - Yes Kimball - Yes Enzbrenner - Yes Wilken - Recuse The motion carried 6 -0. ITEM 7: CONSIDERATION AND APPROPRIATE ACTION RELATING TO AN INVOICE FOR PAYMENT FROM THE OWASSO PUBLIC WORKS AUTHORITY IN THE AMOUNT OF $5.102.50 FOR PROVISION OF THE FUTURE CONSTRUCTION OF A DOWNSTREAM RELIEF SEWER SERVING THE ONG FACILITY. OWASSO ECONOMIC DEVELOPMENT AUTHORITY December 11, 1997 Page No. 3 The Trustees were briefed on the above item. Mr. Smith moved to approve an invoice for payment from the Owasso Public Works Authority in the amount of $5,102.50. Motion was seconded by Mr. Kimball. A vote on the motion was recorded as follows: Anderson - Yes Smith - Yes Lawrence - Yes Akin - Yes Kimball - Yes Enzbrenner - Yes Wilken - Recuse The motion carried 6 -0. YPEM 8: DISCUSSION RELATING TO TBE NEED TO CONSIDER THE IMPLEMENTATION OF A MAIN STREET PROGRAM. Mr. Tobias presented a report on the feasibility of redeveloping Main Street and the downtown corridor. Also discussed, was the possibility of preparing a series of steps or recommendations to be taken, then be presented at the next meeting. There were questions regarding what type of business would go into that area. Ms. Julie Warren from INCOG made a brief presentation concerning the focus of an overall master plan on this economically distressed area. ITEM 9: DISCUSSION RELATING TO THE NEED TO CONSIDER THE DEVELOPMENT OF A TAX INCREMENT FINANCING DISTRICT. Preliminary discussions on the need to explore new funding mechanisms in the Enterprise Zone a reinvestment zone were discussed. ITEM 10: REPORT FROM DIRECTOR OF ECONOMIC DEVELOPMENT Mr. Tobias briefed the Authority on the status of several economic development projects and prospects. ITEM 11: UNFINISHED BUSINESS None ITEM 12: None OWASSO ECONOMIC DEVELOPMENT AUTHORITY December 11, 1997 Page No. 4 ITEM 13: ADJOURNMENT Mr. Anderson moved to adjourn, seconded by Mr. Wilken. A vote on the motion was recorded as follows: Anderson - Yes Smith - Yes Lawrence - Yes Akin - Yes Kimball - Yes Enzbrenner - Yes Wilken - Yes Motion carried 7 -0 and the meeting was adjourned at 11:05 AM. Frank Enzbrenner, Chairperson Date Approved . City of Owasso Owasso Economic Development Authority Schedule of Revenues and Expenses For the Month Ending December 31, 1997 * *Note: For the purposes of this report, "Fund balance" includes only current assets and current liabilities. MTD YTD Operating income: Contributions $0.00 $0.00 Sale of property 0.00 0.00 Other 79.91 445.87 Total revenues 79.91 445.87 Operating expenses: Materials & supplies 0.00 0.00 Services & other charges 0.00 625.00 Capital outlay 0.00 0.00 Total expenses 0.00 625.00 Operating income (loss) (179.13) 79.91 Non - operating income (expenses): Proceeds of construction loan 26,662.33 227,193.97 ONG Work Center Project (31 764.83) (232,296.47) Total non - operating income (expenses) (5,102.50) (5,102.50) Net income (loss) (5,281.63) (5,022.59) Fund balance ** 07/01/97 $38,273.53 Fund balance ** 12131/97 $32,991.90 * *Note: For the purposes of this report, "Fund balance" includes only current assets and current liabilities. MEMORANDUM TO: THE OWASSO ECONOMIC DEVELOPMENT AUTHORITY CITY OF OWASSO FROM: ROBERT M. TOBIAS, JR. DIRECTOR OF ECONOMIC DEVELOPMENT SUBJECT: MONTHLY REPORT DATE: January 8, 1998 The following represents an overview of the various activities on which staff has been working: ECONOMIC DEVELOPMENT PROJECTS: Vision Owasso. A forum is under consideration for mid January, in which the various activities encompassed by the Vision Owasso Program are summarized, along with the preliminary announcement of the community vision statement. The process, which will be followed to produce a strategic economic community development plan, will also be outlined and discussed at this time to secure a consensus. The completion of the Vision Owasso program has resulted in an increase in volunteers to serve on four standing committees, inclusive of economic development, leadership, infrastructure and quality of life. In an effort to provide the OEDA with a community- based perspective on these issues, the board may consider having these committees report to the OEDA on an as- needed basis. Industrial Development. The lack of available land zoned for industrial uses limits the effectiveness of recruitment efforts. Based upon the ongoing development of the city's comprehensive plan, staff is presenting information related to properties located at Cherokee Industrial Park and certain properties along U.S. Highway 169 and 1161' Street North, to prospective industrial users. Downtown Redevelopment. Staff is coordinating preliminary discussions with a private developer that has expressed an interest in serving as the primary developer of our downtown redevelopment effort. By redeveloping and working proactively to attract new retail, commercial and housing construction in this targeted area, we can resurrect this area and create a focal point for the community. Additionally, property values will be increased, sales taxes will increase and the quality of life will be improved for residents in close proximity to this area, as well as residents from throughout the Owasso service area. This program will also contribute to our community response to the major employers at Cherokee Industrial Park, which have expressed the need to increase the level of retail and business services in their immediate service area. Staff continues to collaborate with the various taxing entities that would be impacted by the creation of a Tax Increment Financing District (TIF) to support targeted areas of redevelopment, such as the downtown corridor. A TIF is an innovative technique of financing and encouraging economic development projects. A TIF allows a municipality to designate special districts in which public improvements are made in order to attract private development. Simply defined, a TIF is a method of funding public improvements in an area of redevelopment by capturing for a time, all or a portion of the increased tax revenue that may result if the redevelopment stimulates private investment. Business Park/Commercial Development. Due to the large number and size of available tracts along U.S. Highway 169, staff is exploring a variety of speculative office and commercial developments in this corridor. Additionally, the completion and occupancy of the ONG service center, coupled with the recent announcement by Hillcrest Healthcare, will serve as the impetus to attract new retail and commercial investment and jobs to this strategically located corridor of the city. Transportation Initiatives. Staff is proceeding with the development of a regional coalition of private and public sector supporters of the widening of the 76° Street North corridor between U.S. Highway 75 and U.S. Highway 169. Preliminary discussions are being coordinated with the major employers at Cherokee Industrial Park to explore the extent of their interest and support in lobbying for this key transportation initiative. Upon gaining the support of these major employers, contact will be made with other key private and public entities, prior to preparing for a formal request to the appropriate governmental entities. Staff is also continuing to explore the provision of transit services between Owasso and the Cherokee Industrial Park, as well as the Tulsa International Airport. Both Tulsa Transit and a private transit provider have been requested to facilitate the activities related to the provision of this public service. The provision of this service to Owasso during the lunch time frame, is anticipated to increase the interest of commercial development in the downtown corridor, resulting in a substantial increase in sales tax collections. Image Enhancements. A program to enhance the image of the Owasso area is also in its inception. Participants of Vision Owasso and other local and regional resources will be solicited to assess our current marketing materials and communications mediums. Preliminary activities will focus on evaluating the current manner in which the city is marketed, such as: • Enhancement of our Web page • Assessment of our current marketing materials • Communications with our ally network • Development of a strategic local, regional and state media and communications campaign ECONOMIC DEVELOPMENT PROSPECTS: Attached is an illustration of the types of prospects, the scope of investment and the number of jobs to be created by prospects on which staff is working. Below are those prospects representing a high degree of priority: Warehouse /distribution company. The companies involved with this joint venture are continuing their market assessment effort. The scope of this project may be expanded to represent a capital investment of up to $12 million, as compared to the initial projection of $4 million. Omni Entertainment. The Oklahoma Department of Commerce (ODOC) has approved the expansion of the Enterprise Zone per the attached correspondence. This action automatically reclassifies this economically distressed corridor of the city as a reinvestment zone, providing the foundation for the consideration of a special district or TIF. In summary, staff continues to work on a variety of economic community development projects, which will increase the property and sales tax base, plus add jobs. To reiterate, the three primary areas of focus continue to be on: • The facilitation of programs and services to assist our existing manufacturing base • Development of a program to facilitate the redevelopment of our downtown corridor • Consideration for the speculative development of a multi -tenant office building along the U.S. Highway 169 corridor. Staff is actively involved on projects, which could potentially produce over $80 million of new property tax base and create more than 3,000 jobs, which would also result in a significant increase in sales tax collection for the city. ECONOMIC DEVELOPMENT PROJECT STATUS Company Name Capital Investment Jobs National Steak & Poultry 100 Precision Components 15 Warehouse /Distribution $12,000,000 30 Omni Entertainment $3,000,000 75 Hope Lumber * 3 Hillcrest Healthcare $14,000,000 30 Downtown Redevelopment $5,000,000 100 Tulsa Federal Employees CU * 10 Woods Precision $1,000,000 10 Speculative office building $1,000,000 50 TOTAL OWASSO $36,000,000 423 Company Name Capital Investment Jobs WorldCom $15,000,000 3,000 Nordam Group $7,500,000 100 Laufen International $1,500,000 30 Alliance Business Center $2,000,000 75 Alliance Business Center II $3,000,000 150 CHEROKEE INDUSTRIAL PARK $29,000,000 3,355 TOTAL OWASSO AREA $65,000,000 3,778 January 1998 VISION OWASSO COMMUNITY PRIORITIES Major Issue Ranking Lack of commercial development 115 Inadequate streets 107 Uncontrolled growth 103 Deterioration of downtown 93 Scope of education 93 Not enough street lighting 51 Traffic 49 Lack of medical facility 48 Create community focal point 47 Lack of incentives for economic development 42 Insufficient ad valorem tax base 38 Inclusive to establish diversity 36 More restaurants 36 Greenbelts 35 Lack of economic development financing 33 Need cultural arts 32 Marketable image 32 Maintenance of public schools 32 January 1998