college station business development corporation (4b corp.)
TRANSCRIPT
COLLEGE STATION BUSINESS DEVELOPMENT
CORPORATION
(4B CORP.)
4B CORPORATIONWHAT IS IT?
Mechanism for pursuing economic development areas not currently addressed by existing entities
Non-profit organization
Used by 358 cities statewide
Authorized by state law
Handles administrative functions upon Council approval
HISTORY
Milestone for Strategic Issue #2 (1998)
Direction to proceed with Corp in Sept 1998
Art of Inc approved by Council in Jan 1999
Board Members appointed in June 1999
Draft By-Laws and Agreement for Services
WHO DOES WHAT IN ED?
Chamber
-Existing business retention & expansion
COG
-Workforce Development
-Revolving Loan Fund
EDC
-Recruitment of new manufacturing, distribution, technology business
SBDC
-Small business loans and counseling
WHO DOES WHAT IN ED? (Con’t)
City Department
-Recruit retail, commercial, tourism dev.
-Redevelopment projects
-Special capital projects (garage & conf cntr)
-Liaison to EDC & Chamber (contracts, negotiations, development process, business center dev & marketing)
ROLE OF 4B CORPORATIONRecommendations to Council and staff on:Incentives
Policy development
Marketing
Business center development
Special capital projects and funding admin.
Other ED projects at Council request
ROLE CON’T
Some areas not currently addressed by other entities:
RetailHotel/MotelEntertainmentTourism facilitiesRetirement CommunitiesLarge Commercial
COUNCIL CONTROLLED
-Adopts Articles of Incorporation
-Adopts and amends By-laws
-Appoints board members
-Adopts budget
-Prior approval of all contracts, plans, docs
-Staff reports to city manager
STEPS TO BE TAKENBY CITY COUNCIL
Bylaws & Agreement for Services considered by Council
If Bylaws are approved, hold joint workshop to define objectives