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HomeMy WebLinkAbout2005.07.13_OEDA Agenda_SpecialPUBLIC NOTICE OF THE MEETING OF THE OWASSO ECONOMIC DEVELOPMENT AUTHORITY TYPE OF MEETING: DATE: TIME: PLACE: Special July 13, 2005 10:00 a.m. Owasso City Hall Main Conference Room 111 North Main Notice and agenda filed in the office of the City C at 1:00 p.m. on Thursday, July 7, 2005. 1 2 3. 0 Call to Order & Roll Call Mr. Enzbrenner Election of Chairman Mr. Enzbrenner Attachment #2 Election of Vice Chairman Chairman Attachment #3 Election of Secretary Chairman Attachment #4 Rickey AGENDA OEDA FILE posted on the City Hall bulletin board Development Director OEDA July 13, 2005 Page 2 5. Request Approval of Minutes of the June 9, 2005 Regular meeting. Chairman Attachment #5 6. Request Approval of Claims. Chairman Attachment #6 7. Presentation of Financial Report. Ms. Bishop Attachment #7 8. Consideration and appropriate action relating to a request for Trustee approval of an annual operating budget for Fiscal Year 2005-2006. Chairman Attachment #8 9. Update from Economic Development Director. Mr. Hayes Attachment #9 10. Report from Community Development Director Mr. Wiles 11. Report from the Public Works Director Ms. Stagg OEDA July 13, 2005 Page 2 12. Report from OEDA Manager. Mr. Ray 13. Discussion relating to ideas and scope of Owasso Economic Development Activity for Fiscal Year 2005-2006. Mr. Ray 14. Consideration and appropriate action relating to a request for Trustee approval of funds in support of a baseball tournament hosted by Owasso Baseball Boosters. Councilor Brent Colgan Attachment # 14 15. New Business. 16. Adjournment. MEMORANDUM TO: THE HONORABLE CHAIR & TRUSTEES OWASSO ECONOMIC DEVELOPMENT AUTHORITY FROM: RICKEY HAYES A�_ DIRECTOR OF ECONOMIC DEVELOPMENT SUBJECT: Election of OEDA Officers for Fiscal Year 05-06 DATE: July 5, 2005 BACKGROUND: Pursuant to OEDA bylaws, officers for the Owasso Economic Development Authority are selected annually. Members select a Chairman, Vice -Chair, and Secretary to serve the OEDA for the fiscal year and to provide leadership, planning, and implementation of projects for the coming year that will directly benefit the economic well being of the community. The Chairman will be elected at the first regular meeting in July of each year by the members and will assume the chair immediately after his election and will oversee the election of the Vice -Chair and Secretary. MEMORANDUM TO: THE HONORABLE CHAIR & TRUSTEES OWASSO ECONOMIC DEVELOPMENT AUTHORITY FROM: ,(/�f _ RICKEY HAYES ��'"`"'���""" DIRECTOR OF ECONOMIC DEVELOPMENT SUBJECT: Election of OEDA Officers for Fiscal Year 05-06 DATE: July 5, 2005 BACKGROUND: Pursuant to OEDA bylaws, officers for the Owasso Economic Development Authority are selected annually. Members select a Chairman, Vice -Chair, and Secretary to serve the OEDA for the fiscal year and to provide leadership, planning, and implementation of projects for the.coming year that will directly benefit the economic well being of the community. The Chairman will be elected at the first regular meeting in July of each year by the members and will assume the chair immediately after his election and will oversee the election of the Vice -Chair and Secretary. MEMORANDUM TO: THE HONORABLE CHAIR & TRUSTEES OWASSO ECONOMIC DEVELOPMENT AUTHORITY FROM: RICKEY HAYES DIRECTOR OF ECONOMIC DEVELOPMENT SUBJECT: Election of OEDA Officers for Fiscal Year 05-06 DATE: July 5, 2005 BACKGROUND: Pursuant to OEDA bylaws, officers for the Owasso Economic Development Authority are selected annually. Members select a Chairman, Vice -Chair, and Secretary to serve the OEDA for the fiscal year and to provide leadership, planning, and implementation of projects for the coming year that will directly benefit the economic well being of the community. The Chairman will be elected at the first regular meeting in July of each year by the members and will assume the chair immediately after his election and will oversee the election of the Vice -Chair and Secretary. OWASSO ECONOMIC DEVELOPMENT AUTHORITY MINUTES OF REGULAR MEETING Thursday, June 9, 2005 The Owasso Economic Development Authority met in regular session on Thursday, June 9, 2005 in the Main Conference Room at Owasso City Hall per the Notice of Public Meeting and Agenda posted on the City Hall bulletin board at 5:00 p.m. on Monday, June 6, 2005. ITEM 1: CALL TO ORDER & ROLL CALL Chairman Frank Enzbrenner called the meeting to order at 10:07AM. PRESENT Frank Enzbrenner, Chair Dee Sokolosky, Secretary Steve Cataudella, Treasurer Gary Akin, Trustee Brenda Lawrence, Trustee Tom Kimball, Trustee A quorum was declared present. ABSENT Dee Sokolosky, Secretary Steve Cataduella, Trustee STAFF Ana Stagg, Public Works Director Sherry Bishop, Finance Director Rickey Hayes, Economic Development Director OTHERS Rodney Ray, City Manager Eric Wiles, Community Development ITEM 2: ACCEPTANCE OF RESIGNATION OF TRUSTEE SCOTT YANDELL. Mr. Cataudella moved, seconded by Mr. Akin, to accept the resignation of Chairman Scott Yandell. AYE: Cataudella, Akin, Sokolosky, Enzbrenner, Lawrence, Kimball NAY: None ABSTAIN: Motion carried 6-0. Owasso Economic Development Authority June 9, 2005 ITEM 3: REQUEST APPROVAL OF MINUTES OF THE MAY 12, 2005 REGULAR MEETING. Mr. Kimball moved, seconded by Mr. Akin, to approve the minutes of the May 12, 2005 Regular meeting, by reference made a part hereto. AYE: Enzbrenner, Akin, Cataudella, Lawrence, Kimball NAY: None ABSTAIN: Sokolosky Motion carried 5-0. ITEM 4: REQUEST APPROVAL OF CLAIMS. No Claims AYE: None NAY: None ABSTAIN: None ITEM 5: PRESENTATION OF FINANCIAL REPORT. After a review of the attached report, no questions were asked of Ms. Bishop. ITEM 6: PRESENTATION OF THE FY 2005-2006 BUDGET. After review of the attached report, no questions were asked of Ms. Bishop ITEM 7: UPDATE FROM ECONOMIC DEVELOPMENT DIRECTOR Mr. Hayes updated on the status of various developments within the area. Mr. Hayes reported on events that occurred at the ICSC Convention and provided the Authority with a Claritas report prepared for the Owasso Chamber of Commerce and attached hereto. -2- Owasso Economic Development Authority June 9, 2005 ITEM 8: REPORT FROM COMMUNITY DEVELOPMENT DIRECTOR Mr. Wiles provided an update on the May building permit report, commented on the residential building within the City, and provided information regarding upcoming items before the Annexation Committee and Planning Commission. (At 10:45am, Mr. Cataudella leaves the meeting). ITEM 9: REPORT FROM PUBLIC WORKS DIRECTOR Ms. Stagg gave a brief report on various street development projects, and other Public Works related items. ITEM 10: REPORT FROM OEDA MANAGER Mr. Ray informed members that the Vanguard Relocation Assistance Loan documents have been finalized and a closing date will be June 15, 2005. ITEM 11: NEW BUSINESS None (At 11:15am Ms. Lawrence leaves the meeting) ITEM 12: ADJOURNMENT Motion made by Mr. Kimball, seconded by Mr. Akin to adjourn. At 11:30am, the meeting was adjourned. AYE: Kimball, Enzbrenner, Akin, Sokolosky NAY: None ABSTAIN: None Motion carried 4-0. Date Approved -3- Frank Enzbrenner, Vice Chair MEMORANDUM TO: THE HONORABLE CHAIR & TRUSTEES OWASSO ECONOMIC DEVELOPMENT AUTHORITY FROM: 0- RICKEY HAYES, ECONOMIC DEVELOPMENT DIRECTOR SUBJECT: OEDA CLAIMS FOR JUNE 2005 DATE: 07/05/05 There were no claims for June 2005. Owasso Economic Development Authority Statement of Revenues, Expenses and Changes in Fund Net Assets For the Month Ending June 30, 2005 Operating Revenues Operating Expenses: Materials & supplies Services & other charges Capital outlay Total Operating Expenses Operating Income (Loss) Non -Operating Revenues (Expenses): Investment income Proceeds of RAN Economic development loan Total non -operating revenues (expenses) Net income (loss) before contributions and trans Transfer from general fund Change in net assets Total net assets - beginning Total net assets - ending Month -to -date $0.00 0.00 15,000.00 0.00 15,000.00 (15,000.00) 5.35 2,000,000.00 (2,000,000.00) 5.35 (14,994.65) 71,250.00 56,255.35 Year-to-date $0.00 0.00 15,000.00 0.00 15,000.00 (15,000.00) 54.21 2,000,000.00 (2,000,000.00) 54.21 (14,945.79) 71,250.00 56,304.21 10,730.55 $67,034.76 MEMORANDUM TO: HONORABLE CHAIR AND TRUSTEES OWASSO ECONOMIC DEVELOPMENT AUTHORITY FROM: SHERRY BISHOP FINANCE DIRECTOR SUBJECT: FISCAL YEAR 2005-2006 BUDGET DATE: July 7, 2005 BACKGROUND: The proposed budget for fiscal year 2005-2006 was presented to the OEDA Trustees for review at the June 9`h meeting. As a Title 60 Public Trust, the OEDA is required to file an annual budget with its beneficiary, the City of Owasso. The budget or appropriation for a public trust is not a legal restriction on the expenditure of funds as it is for a municipality. The proposed budget was based on the assumption that the Vanguard loan would close before the end of the fiscal year in June. That did occur and the City transferred $71,250 to the OEDA for the total interest and letter of credit expenses that will be incurred during the next five years. The FY 2006 budget includes quarterly principal payments from Vanguard as revenue. The quarterly principal and interest payments on the OEDA's Revenue Anticipation Note to the City of Owasso are included as expenses. RECOMMENDATION: Staff recommends OEDA Trustee approval of the attached budget proposal for fiscal year 2005- 2006 with estimated revenues of $400,070 and total appropriations of $426,250. ATTACHMENTS: OEDA Proposed Budget Owasso Economic Development Authority Proposed Budget FY 2005-2006 EGINNING FUND BALANCE (7-1-2005 PROPOSED REVENUE 95-000-46100 Interest 70 95-000-46500 Promissory Note Revenue 400,000 TOTAL REVENUE 400,070 PROPOSED EXPENSES Personal Services - Materials & Supplies - Other Services 5,000 Capital Outlay - Debt Service 421,250 TOTAL EXPENSES 426,250 PROPOSED NET $ 67,000 (26,180) PROJECTED ENDING FUND BALANCE (6-30-2006) $ 40,820 Owasso Economic Development Authority Fiscal Year 2005-2006 Annual Budget $450,000 $400,000 $350,000 $300,000 $250,000 $200,000 $150,000 $100,000 $50,000 $0 OEDA 5-year Expense Trend (OEDA 95-710) FY 02 FY 03 FY 04 FY 05 FY 06 Expense Category Actual 2001-2002 Actual 2002-2003 Actual 2003-2004 Projected Actual 2004-2005 Proposed 2005-2006 Personal Services - - - Materials & Supplies 19 - - - - Other Services & Charges 4,915 18,750 7,750 - 5,000 Capital Outlay - - - - - Debt Service - - - 15,000 421,250 Total 4,934 18,750 7,750 15,000 426,250 OEDA Owasso Economic Development Authority Fiscal Year 2005-2006 Annual Budget OEDA Projected Actual Actual Actual Proposed Line Item Description 2002-2003 2003-2004 2004-2005 2005-2006 Personal Services *Total Personal Services* Materials & Supplies 95-710 52001 Office Supplies - *Total Materials & Supplies* - - - Other Services & Charges 95-710 53001 Prof. & Tech. Services 18,750 6,250 - 5,000 53650 Travel & Training 1,500 - *Total Other Services & Charges* 18,750 7,750 - 5,000 Capital Outlay 95-710 54400 Machinery "Total Capital Outlay" Debt Service 95-800 55200 RAN Debt Service-- - - - Principal 400,000 Interest 9,250 55600 Other Costs (Letter of Credit; - - 15,000 12,000 *Total Debt Service* - - 15,000 421,250 Total OEDA 18,750 7,750 15,000 426,250 MEMORANDUM TO: THE HONORABLE CHAIR AND TRUSTEES OWASSO ECONOMIC DEVELOPMENT AUTHORITY FROM: RICKEY HAYES DIRECTOR OF ECONOMIC DEVELOPMENT SUBJECT: DIRECTOR'S REPORT DATE: July 8, 2005 Progress continues on the commercial sites in the 96th Street retail corridor. Smith Farms continues construction at a fast pace. Hobby Lobby walls are up on the south west side of the center, completing the main strip of retail outlets. Construction on the out parcels and pads continues. Betty Smith Boulevard is paved. Most of the curb and gutter work on the interior of the center is completed, and paving on the main parking areas is underway. Construction is under way on a 52,000 square ft. retail strip in phase one of Tyann Development's plans for the area on the east side of US 169 around the Home Depot. Tyann is also completing the service road from 86th to 96th Street on the east side of the highway. This site will eventually be home to about 300,000 feet of retail and restaurants, with some mixed use units as well. Both the St. John's Medical Complex and Bailey Medical Center are doing site work for their developments. We are enjoying a new intensity in retail inquiries. I anticipated some as the opening dates for Smith Farms neared, but I am excited to say that several national retailers are in and out of town for site visits and inspections. Several commercial sites have investors inquiring from the 96th Street corridor north to 116th. There are several restaurants, at least 4 hotel / motel groups, and several more "big box" retail users in the mix. All of our marketing material is being updated and new pieces aimed at corporate office users are being developed. I hope to have them in your hands for your review and input very soon. I am in the process of updating and revamping the Economic Development website. The site will officially begin July 15, 2005. The site will have a completely new look and will be more user friendly. All the new marketing material will be included, as well as the other material that is relevant. A GIS component to our IT system and network will greatly enhance our ability to provide information to customers and investors. As always, if I can serve you in any way, please call. Your input and direction are always important to the success of our efforts. MEMORANDUM TO: THE HONORABLE CHAIR & TRUSTEES OWASSO ECONOMIC DEVELOPMENT AUTHORITY FROM: BRENT COLGAN OWASSO CITY COUNCIL SUBJECT: AMERICAN AMATEUR BASEBALL CONGRESS WORLD SERIES DATE: July 8, 2005 BACKGROUND: For the last couple of years Owasso Ram Baseball has been involved with the American Amateur Baseball Congress 15 year old World Series. AABC is a national organization that is the premier organizer of teen league baseball tournaments held in various locations around the country. Coach Larry Turner is the head coach of the Owasso High School baseball team and is highly regarded around the nation for his success in Owasso. Coach Turner is working with the AABC to make Owasso the permanent home for the 15 year old World Series tournament. The City of McKinney, Texas is home for the 18 year old tournament and has been the host of that event for several years. Owasso has the necessary ingredients to be a permanent host site because of the quality of our baseball facilities, available food and lodging, proximity to the airport, and excellent access by highway. Last year teams from New York, California, Texas, Michigan, Minnesota, North Carolina, Missouri, Arkansas, and two local teams participated in the week long event in Owasso. Unlike other tournaments, the World Series qualifiers pay no entry fees, but have qualified in local and regional tournaments in order to be able to participate in the World Series event. About 20 teams will participate with 15-17 players and coaches. When you factor in families (parents, grandparents, etc.) with the players and coaches, the City of Owasso will have an influx of several hundred people here for the week long event. Not only is the tournament a positive experience in the lives of these young people, there is the potential of a very positive economic impact for the city and our local merchants. I discussed the event with Rickey Hayes, Director of Economic Development for the City of Owasso earlier this week. Mr. Hayes informed me that statistics show that on average a family traveling to a sporting event will spend about $250 a day for expenses. If 20 families each spend $250 dollars a day, $5000.00 a day per team will be injected into the local economy. If you multiply $5000 times the 20 teams here, there is a potential for $100,000 a day to be spent in our restaurants, motels, and shopping centers. The teams will be in town for 6-7 days, resulting in a potential $700,000 or greater economic impact for the overall event. Both the Best Western and the Holiday Inn Select rates are about $70 per night for double occupancy. Both local motels would be booked to capacity for the entire 7 days of the event, and some families would be forced to stay in nearby Tulsa motels. With the motel bookings, and other factors including fuel, meals, and other items purchased at our local retail outlets the tournament has the potential to produce a large amount of revenue for the local economy. Coach Turner needs $3500 to help offset costs for umpires, food, and other expenses for the tournament. I realize this request was made to you last year at this time, but felt very strongly that with such a great potential impact it was worth your consideration again. Thank you all for your consideration in this matter. Please call me at my office (272-7500) if I can answer any questions. Other Items Presented to Members of OEDA at This Meeting. Executive Summary Report Prepared For: OWASSO CHAMBER OF COMMERCE Order #: 963484209 Project Code: 1962376 - ZIP CODE 74055 Site: 01 Zip Code (see appendix for geographies), Total • The population in this area is estimated to change from 27,290 to 33,458, resulting in a growth of 22.6% between 2000 and the current year. Over the next five years, the population is projected to grow by 17.6%. The population in the United States is estimated to change from 281,421,906 to 295,140,073, resulting in a growth of 4.9% between 2000 and the current year. Over the next five years, the population is projected to grow by 4.9%. + The current year median age for this population is 35.2, while the average age is 34.7. Five years from now, the median age is projected to be 35.7. The current year median age for the United States is 36.2, while the average age is 37.0. Five years from now, the median age is projected to be 37.4. . Of this area's current year estimated population: 87.1 % are White Alone, 1.3% are Black or African Am. Alone, 4.9% are Am. Indian and Alaska Nat. Alone, 1.0% are Asian Alone, 0.0% are Nat. Hawaiian and Other Pacific Isl. Alone, 1.6% are Some Other Race, and 4.0% are Two or More Races. For the entire United States: 73.6% are White Alone, 12.4% are Black or African Am. Alone, 0.9% are Am. Indian and Alaska Nat. Alone, 4.1% are Asian Alone, 0.2% are Nat. Hawaiian and Other Pacific Isl. Alone, 6.1 % are Some Other Race, and 2.7% are Two or More Races. • This area's current estimated Hispanic or Latino population is 4.0%, while the United States current estimated Hispanic or Latino population is 14.2%. + The number of households in this area is estimated to change from 9,558 to 11,763, resulting in an increase of 23.1 % between 2000 and the current year. Over the next five years, the number of households is projected to increase by 17.7%. The number of households in the United States is estimated to change from 105,480,101 to 111,006,738, resulting in an increase of 5.2% between 2000 and the current year. Over the next five years, the number is projected to increase by 5.1%. + The average household income is estimated to be $72,725 for the current year, while the average household income for the United States is estimated to be $64,816 for the same time frame. The average household income in this area is projected to increase 14.9% over the next five years, from $72,725 to $83,549. The United States is projected to have a 13.0% increase in average household income. The current year estimated per capita income for this area is $25,697, compared to an estimate of $24,704 for the United States as a whole. Prepared on: May 25, 2005 Page I of 4 FLAFRITAQ 2005 CLARITAS INC. All rights reserved. 18008666511 �J♦TEREPORTs Executive Summary Report Prepared For: OWASSO CHAMBER OF COMMERCE Order #: 963484209 Project Code: 1962376 - ZIP CODE 74055 Site: 01 Zip Code (see appendix for geographies), Total • For this area, 49.9% of the population is estimated to be employed and age 16 and over for the current year. The employment status of this labor force is as follows: 0.2% are in the Armed Forces, 67.6% are employed civilians, 1.7% are unemployed civilians, and 30.5% are not in the labor force. For the United States, 46.8% of the population is estimated to be employed and age 16 and over for the current year. The employment status of this labor force is as follows: 0.5% are in the Armed Forces, 60.0% are employed civilians, 3.6% are unemployed civilians, and 35.8% are not in the labor force. • For this area, 49.9% of the population is estimated to be employed and age 16 and over for the current year. The occupational classifications are as follows: 23.8% have occupation type blue collar, 65.3% are white collar, and 11.0% are Service & farm workers. For the United States, 46.8% of the population is estimated to be employed and age 16 and over for the current year. The occupational classifications are as follows: 23.9% have occupation type blue collar, 60.0% are white collar, and 16.0% are Service & farm workers. • For the civilian employed population age 16 and over in this area, it is estimated that they are employed in the following occupational categories: 15.4% are in "Management, Business, and Financial Operations", 23.1 % are in "Professional and Related Occupations", 10.8% are in "Service", and 26.9% are in "Sales and Office". 0.0% are in "Farming, Fishing, and Forestry", 12.2% are in "Construction, Extraction, and Maintenance", and 11.5% are in "Production, Transportation, and Material Moving". For the civilian employed population age 16 and over in the United States, it is estimated that they are employed in the following occupational categories: 13.6% are in "Management, Business, and Financial Operations", 20.3% are in "Professional and Related Occupations", 14.7% are in "Service", and 26.7% are in "Sales and Office". 0.7% are in "Farming, Fishing, and Forestry", 9.5% are in "Construction, Extraction, and Maintenance", and 14.5% are in "Production, Transportation, and Material Moving". • Currently, it is estimated that 6.7% of the population age 25 and over in this area had earned a Master's, Professional, �g or Doctorate Degree and 19.1 % had earned a Bachelor's Degree. In comparison, for the United States, it is estimated that for the population over age 25, 8.9°/" had earned a Master's, Professional, or Doctorate Degree, while 15.7% had earned a Bachelor's Degree. Pu Prepared on: May 25, 2005 R �Tas 0 2005 CLARITAS INC. All rights reserved. Page 2 of 4 1 800 866 6511 SiTEREPORTS Executive Summary Report 0 Prepared For: OWASSO CHAMBER OF COMMERCE Order #: 963484209 Project Code: 1962376 - ZIP CODE 74055 Site: 01 Zip Code (see appendix for geographies), Total Most of the dwellings in this area (79.8%) are estimated to be Owner -Occupied for the current year. For the entire �► country the majority of the housing units are Owner -Occupied (66.7%). 1 • The majority of dwellings in this area are estimated to be structures of 1 Unit Detached (79.9%) for the current year. In the United States, the majority of dwellings are estimated to be structures of 1 Unit Detached (60.6%) for the same year. L • The majority of housing units in this area (27.7%) are estimated to have been Housing Unit Built 1999 to present for the current year. Most of the housing units in the United States (17.1 %) are estimated to have been Housing Unit Built 1970 to 1979 for the current year. Prepared on: May 25, 2005 Page 3 of 4 CLA ITAS 0 2005 CLARITAS INC. All rights reserved. 1 800 866 6511 SITEREPORTS Executive Summary Report Prepared For: OWASSO CHAMBER OF COMMERCE Project Code: 1962376 - ZIP CODE 74055 Appendix: Area Listing Area Name: Type: List - Area ZIP Codes Reporting Detail: Aggregate Order #: 963484209 Site: 01 Reporting Level: Area ZIP Codes Geography Code Geography Name Geography Code Geography Name 74055 Owasso Prepared on: May 25, 2005 CLARITA5© 2005 CLARITAS INC. All rights reserved. Page 4 of 4 1 800 866 6511 SfTEREPORTS