MARCH 23, 1992
MINUTES OF THE REGULAR MEETING
THE BOARD OF DIRECTORS
SCHERTZ DEVELOPMENT FOUNDATION, INCORPORATED
The regular meeting of the Board of Directors of the corporation
was held at the MunIcipal Conference Room, 1400 Schertz Parkway,
Schertz, Texas on the 24th day of February 1992, at 7:12 o'clock
p.m.
The followIng DIrectors of the corporation, being a quorum, were
present and participated throughout the meeting:
Tom Weaver, Vice President
Jim Shriver, Secretary/Treasurer
Kerry Sweatt, Assistant Secretary
Lewis Borgfeld, Director
Mark Marquez, Execut Ive Director
Tom Weaver, Vice President, served
Jim Shriver, Secretary/Treasurer
meeting.
as Chairman of the meeting and
served as Secretary of the
The Minutes of the regular meeting of the Board of Directors held
on the 27th day of January 1992 were read and adopted.
Jim Shriver presented the Treasurer's Report. The corporation
earned $16.31 Interest In January 1992. The current balance of
the general checking account Is $5,094.43.
Mark Marquez presented a briefing on the proposed 1/2 cent sales
tax Increase for the City of Schertz. lIe distributed to each
Director point papers and a Half Cent Sales Tax Expenditure
Budget (over a ten year period) which he prepared on the subject.
Mark reviewed the budget In detail and explained each Item
listed. After much discussion and exchange of Ideas and
thoughts, It was decided that each Director should review the
material Mark presented and contact him at a future date with any
further comments or recommendations.
Mark Marquez presented an update briefing on the January 24, i992
meeting with the Resolution Trust Corporation (RTC) regarding the
sale of property at the Trl-County Industrial Park. He stated he
~ceive~ one appraisal from RTC and the party who did a
second appraisal would not release it. He stated the
corporation's offer to purchase certain property located within
the Schertz Business Park was recently declined by RTC. After
much discussion, upon motion duly made, seconded, and unanimously
carried, it was decided to submit another offer to RTC, offering
to purchase a one-half acre 101 for $2,750.00 or one acre for
$5.500.00. Upon motion duly made, seconded, and unanimously
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$5.500.00. Upon motion duly made, seconded, and unanimously
carried, the telephone poll taken earlier in the month to
resubmit an offer to RTC to purchase the property located in the
Schertz Business Park at the original offer price was approved.
Mark Marquez and Lewis Borgfeld presented a briefing on the hotel
Initiatives. No further action Is required at this time.
Mark Marquez advised that a grant request for substantial funding
had been submitted to City Public Service (CPS) and CPS has
returned a fax offering $1,000.00. A decision has to be made as
to whether the foundation will accept the $1,000.00 and if so,
how it will be spent.
Mark Marquez advised that City Public Service will be presenting
an Economic Development Seminar on June 3, 1992. He will remind
the Directors of this seminar at future meetings.
Upon motion
agreed that
23, 1992 in
duly made, seconded, and unanimously carried, It was
the next regular Board meeting would be held on March
the Municipal Conference Room at 7:00 p.m.
There being
duly made,
adjourned.
no further business before the meeting, on motion
seconded and unanimously carried the meeting was
Da t ed :
March 23, 1992
Tom Weaver, Vice President
Jim Shriver, Secretary/Treasurer
The following documents have been appended to these Minutes:
Appendix:
1. Agenda for the February 24, 1992 Schertz Development
Foundation, Inc. Board of Directors Meeting.
2. Point Papers on the proposed 1/2 Cent Sales Tax increase
for the City of Schertz.
3. Half Cent Sales Tax Expenditure Budget
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SCHERTZ DEVELOPMENT FOUNDATION
BOARD OF DIRECTORS MEETING
March 23, 1992.
AGE N D A
1. Approval of Minutes
2. Treasurer's Report
3. Decision Items
a. Solicitation Letters, authorize dissemination
b. RTC initiatives, determine next course of action
4. Discussion Items
a. Hotel Initiatives
b. Asian Update
5. Executive Director's Comments
6. President's Comments
7. Set Next Meeting Date
8. Adjournment
PROFIT & LOSS STATEMENT
1/ 1/92 Through 3/31/92
SOF-Accountlng Page 1
3/23/92
1/ 1/92-
Category Description 3/31/92
INCOME/EXPENSE
INCOME
100-Balance carried forward
102-Interest Income
5,078.12
30.96
TOTAL INCOME
5,109.08
TOTAL INCOME/EXPENSE
5,109.08
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