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