HomeMy WebLinkAboutCity Council Committees - Economic Development Corporation - 07/11/1985 (3) CITY OF KENT
ECONOMIC DEVELOPMENT CORPORATION
July 11 , 1985
The regular meeting of the City of Kent Economic Development Corporation was called
to order at 7:35 a.m. by Chairman of the Board, Tim Leahy.
Present: BOARD MEMBERS: Tim Leahy, Chairman
Tom Bailey
Leo Powers
OFFICERS: P. Stephen DiJulio, General Counsel
Marie Jensen, Secretary of the Board
CITY OFFICIALS: Dick Cushing, City Administrator
ALSO PRESENT: Cynthia Weed of Preston, Thorgrimson
Kent van den Berg of Perkins, Coie
Mark Zenger, First Western Development
Ms. Stratton, Rainier Bank
Ron Meisner, Representing Elder/Quinn and McGill
MINUTES
Bailey moved to approve the minutes of the meeting of June 6, 1985. Powers
seconded, and the motion carried.
METEOR BUILDING ASSOCIATES (Meteor Communications)
DiJulio noted that at the last meeting George Kovats and Mark Zenger had presented
information about the proposed application for Meteor Communications. DiJulio
noted that the firm of Perkins, Coie would be serving as bond counsel on this
matter and that the Board had previously discussed the use of bond counsel other
than Roberts and Sheffleman. The inducement resolution, No. 1985-24, was
presented. Bailey moved to adopt Resolution 1985-24. Powers seconded, and the
motion carried. DiJulio noted that the resolution contains authorization for the
indemnification and compensation agreement which will be executed immediately upon
the conclusion of this meeting. It was determined that the bond counsel would
supply the secretary with the TEFRA notice for publication in time for the hearing
to be scheduled for the August 5 City Council meeting.
ELDER/QUINN AND McGILL INC.
DiJulio presented a letter from W. C. Wagner, Vice President of Elder/Quinn and
McGill , Inc. , requesting that Preston, Thorgrimson, Ellis and Holman serve as bond
counsel as well as serving as corporate counsel for the firm. DiJulio noted that
this could be done and was not inappropriate. Powers moved that the firm of
Preston, Thorgrimson, Ellis and Homan be authorized to serve in both capacities for
Elder/Quinn and McGill . Bailey seconded. It was determined that Roberts and
Sheffleman would review the documents if deemed necessary by general counsel , and
the applicant would pay the fees therefore. Motion carried.
Ron Meisner of Elder/Quinn and McGill noted that the firm had started in 1954
building job shacks for the oil fields and later built hydraulic truck-mounted
equipment. The firm was incorporated in Colorado in 1964 and now has about 106
employees in Denver. Pittman Manufacturing had an operation in Portland, Oregon
making truck mounted hydraulic equipment customized for electric utility companies
and for telephone companies, which was purchased in 1973 by Elder/Quinn and McGill ,
Inc. A facility was needed in the Seattle area in order to better serve Alaska,
and space was rented in Kirkland. A larger facility is now needed, and a 15,000
square foot facility is planned on a four acre site in Kent. Meisner pointed out
that plans include utilizing an old residence on the site to provide 2,000 to 3,000
square feet of office space, if the building can be brought up to required codes.
The facility will be used to build customized hydraulic truck-van equipment such as
those used by power companies and will be equipped with booms and buckets and with
augers to drill holes. He pointed out that the plan was to increase the existing
15 shop employees to 30 employees within the next five years. The inducement
Resolution, No. 1985-25, was introduced. Bailey moved for adoption of the
resolution. Powers seconded, and the motion carried.
There was no further business and the meeting adjourned at 7:55 a.m.
Next regular meeting is scheduled for Thursday, August 1 , 1985, at 7:30 a.m.
MARIE JENSE ity C e
Secretary o he Board
a 0024C-IC
- 2 -