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COLLEGE STATION BUSINESS DEVELOPMENT
CORPORATION
(4B CORP.)
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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
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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
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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
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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)
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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
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ROLE CON’T
Some areas not currently addressed by other entities:
RetailHotel/MotelEntertainmentTourism facilitiesRetirement CommunitiesLarge Commercial
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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
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STEPS TO BE TAKENBY CITY COUNCIL
Bylaws & Agreement for Services considered by Council
If Bylaws are approved, hold joint workshop to define objectives