Forney EDC considers Crumbzz sale, awards relocation grants

During its regular Jan. 11, 2017 meeting, the Forney EDC met and (this is the preliminary report, subject to change):

• Treasurers Report - sales tax revenue barely in line with projections, expenses are low. Mr. Ketteman said the finance dept. does a good job looking at the crystal ball.
  
• Directors' Report: Mr. Ketteman said Dec. was a slow month, have two new TIF board members. W. Broad St: engineer finding ROW easements. 106 main: contractor almost done, Ms. Latham will do finish-out, might be open by Valentines. Will do a letter to downtown biz. Mr. Alexander asked if working with Mr. Bell on easement (on W. Broad)- yes. This is Mr. Bennets' last meeting, he praises the board and leadership.
  
• Mr. Gray, w/ partner Mr. Guest & Mike Lopez contractor, address the board: they have outgrown their downtown location, have plans to take over the vacant 2/3rds Plantation Plaza (formerly Schindler Floors). The complete remodel is going to be expensive, would like some assistance.

• Held a 1836-1928 90 minute executive session
  
• Approved offering Crumbzz the option to continue leasing, or to purchase the property by the end of the current lease on Jan. 23, allowing 3 months to provide a financing plan and closing date, or lease at the new rate of $1,700 / month, or optionally go month-to-month at $2,000 / month.

• 215 Bois D'arc authorize staff to continue negotiations with current prospect.

• Gray/Lopez - The FEDC will provide a grant to offset costs up to $20k, after they show receipts of $40k in improvements

• Sophia design group: asked for assistance in business relocation; The FEDC will provide a $45k forgivable loan, provided they create 45 (FT equivalent) jobs in 1 yr of Certificate of Occupancy, or $20k grant for $40k of improvements. They are moving from Profit Row to Mustang Creek.

• Adjourn at 20:42.