HomeMy WebLinkAboutCity Council Committees - Economic Development Corporation - 10/06/1986 (3) CITY OF KENT
ECONOMIC DEVELOPMENT CORPORATION
October 6, 1986
The regular meeting for October 2, 1986 has been rescheduled to this date at
6:30 p.m. and proper legal notice has been given. The meeting was called to
order at 6:35 p.m. by Board Member Berne Biteman.
Present: BOARD MEMBERS: Berne Biteman
Steve Dowell
Walt Ramsey
OFFICERS: Marie Jensen, Secretary of the Board
Tony McCarthy, Treasurer
Also Present: Brent McFall , City Administrator
Bill Williamson, Acting City Attorney
Wayne Booth of Perkins, Coie
Cameron McLeod, Controller, Northwest Bottling
Company
MINUTES
Ramsey moved to approve the minutes of the regular meeting of August 7, 1986;
• Dowell seconded and the motion carried.
CHAIRMAN OF THE BOARD
It was noted that Tim Leahy had resigned from the Board and that it was
necessary to name a chairman in order to properly execute documents to be
presented at this meeting. Ramsey moved to appoint Berne Biteman as Chairman
of the Board. Dowell seconded and the motion carried.
INDUCEMENT RESOLUTION - DR. PEPPER BOTTLING COMPANY, INC. DBA NORTHWEST
BOTTLING COMPANY
Wayne Booth of Perkins, Coie, attorneys for Northwest Bottling Company,
presented the inducement resolution for $7,300,000 in industrial revenue
bonds. Cameron McLeod noted that the plant, now located in Georgetown, would
re-locate in Kent on the Southeast corner of the West Valley Highway and South
234th Street. He estimated that 25 new employees would be engaged over the
next two years. He pointed out that traffic in the area would not be greatly
affected since the trucks left the plant at 6 a.m. and returned by 2:30 p.m.
• It was noted that Steve DiJulio of Roberts and Shefelman had advised the Board
he had perused the resolution and recommended that it be signed. Dowell moved
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to adopt Resolution 1986-44 providing for $7.3 million dollars in Economic
Development Bonds for Northwest Bottling Company; Ramsey seconded and the
motion carried.
PROMOTIONAL BUTTONS
McFall noted that the City had exhausted a supply of 10,000 promotional
buttons entitled "I 'm High on Kent. " ' It is proposed that the art work be
changed slightly and the words "Kent Cares" be substituted for "I 'm High on
Kent." 5,000 such buttons will cost $1 ,150, including the additional art
work. Dowell moved to approve this expenditure; Ramsey seconded and the
motion carried.
Treasurer McCarthy noted that there was $15,000 currently in the treasury of
the corporation and that billings were now being sent to the participating
corporations for annual administration fees.
INSURANCE
• Upon questions from the board, McFall noted that insurance costs would become
a part of each issue, and will be considered at the time of application.
ADJOURNMENT
There was no further business to come before the board and the meeting
adjourned at 6:48 p.m.
Marie Jensen
Secretary of the Board
24C-IC
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