05/03/2011-4A-Agenda Packet-RegularAGENDA
4A SANGER INDUSTRIAL DEVELOPMENT CORPORATION
TUESDAY, MAY 3, 2011
1:00 P.M.
502 ELM
1. Call Meeting to Order.
2. Approval of Minutes: January 6, 2011
3. Consider and Discuss Status of Lease With C&M Steel.
4. Consider and Discuss Payment of Lien Filed by Danny Cockburn Electric, Inc. and
Authorize City Manager to Negotiate Settlement.
5. Review Financials.
6. Adjournment.
I, the undersigned authority, do hereby certify that this Notice of Meeting was posted on
the bulletin board, at the City Hall of the City of Sanger, Texas, a place convenient and
readily accessible to the genera~I ublic at all times, and said notice was posted on the
following date and time: _/L cfl ~ QO/I at $.'00 p.m. ,
and shall remain posted until meeting is adjourned.
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Tami Taber, City Secretary-~ ( '~--/·\/7 }Da!:e and Time Posted
City of Sanger, Texas ~ · .. ~ .: ~
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This facility is wheelchair access?~ ah6'0
){i&si~~;arking spaces are available. Requests for
accommodations or interpretive se~i~es,IJBU~\\\~~ made 48 hours prior to this meeting. Please
contact the City Secretary's office at (940) 458-7930 for further information.
•
MINUTES: 4A
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SANGER TEXAS INDUSTRIAL DEVELOPMENT CORPORATION
January 6, 2011
MEMBERS
PRESENT: Vickie Jenkins, Carroll McNeill, Don Gillum
MEMBERS
ABSENT: Fred Yeatts
OTHERS
PRESENT: Mike Brice City Manager, Tami Taber City Secretary
1. Call Meeting to Order.
Vickie Jenkins called meeting to order at 1:03 p.m.
2. Approval of Minutes: March 23, 2010
Carroll McNeill made a motion to approve minutes. Seconded by Don Gillum.
Motion carried unanimously.
3. Election of President.
Carroll McNeill made a motion to nominate Vickie Jenkins (until term is up in
July). Seconded by Don Gillum. Motion carried unanimously.
4. Update on C&M Steel Lease.
City Manager advised that $134,586 has been spent on renovations and the offices
are 80% complete. There has been a mechanics lien filed in the amount of $34,885
from their electrician:
This property is being put back on the market to lease since C&M Steel is behind 6
months of rent.
5. , Review Financials.
6 .
City Manager advised that the 4A board receives about $17,000 per month in sales
tax and gave a brief overview on current financials.
Adjourn.
Meeting was adjourned at 1 :22 p.m.
. �,
I`1ay 4, 201 I
Dear C2M2 Construction Inc.
As of this date you have not completed the remodel of the warehouse leased to you by the Sanger Economic
Development Corporation at 103 Bolivar as required by your lease agreement dated May I, 2010. it appears that
work has ceased on the project and we have had no indication from you that you intend to finish the work.
Further, a Mechanics Lien in the amount of $34,885.00 has been filed against the property by Danny Cockburn
Electric Inc. for work done on the remodel. Under the lease agreement you are responsible for the payment of
any and all liens. Therefore, you are in breach of your lease, specifically the Commercial Leasehold Construction
Addendum in Exhibit A, sections F., G. H., and K.
This is your notice under Section 20, B. that you must comply with the terms of the lease within ten (I 0) days or
you will be considered in default and your lease will be terminated.
Sincerely
Mike Brice, City Manager
Sanger, Texas
PO Box 1729
Sanger, TX 76266
Phone: 940-458-7930
Fax: 940-458-4180
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