1989-03-30 CITY COUNCIL PUBLIC HEARING MEETING MINUTES190
MIIN[= OF A RMLIC HEARING OF THE CITY SIL OF THE CITY OF PEAR UM, TEXAS, HELD
ON MARCH 30, 1989, AT 7:00 P. M. IN THE CITY HALL, 3519 LIBERTY DRIVE, PEARLAND,
TEXAS
The Hearing was called to order with the following present:
Mayor Pro Tem
Councilmember
Councilmember
Councilmember
City Manager
Assistant City Manager
Code Enforcement Officer
City Secretary
Stella Roberts
William Wolff
Richard Tetens
David Smith (entered Chambers
at 7:15 P. M.)
Ronald J. Wicker
Donald Birkner
Ernesto Buenrostro
Kay Krouse
Absent from the Meeting: Mayor Tom Reid and Councilmember James Bost.
PURPOSE OF THE HEARING: DISCUSSION OF POTENTIAL TEXAS CAPITAL FUND IRAN APPLICATION
FROM THE DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT AND THE TEXAS DEPARTMENT OF
COMMERCE, THROUGH THE CITY OF PEARLAND, FOR REITON CORPORATION IN THE APPROXIMATE
AMOUNT OF $500,000.00.
NUMBER OF PERSONS SIGNING ATTENDANCE ROSTER: 17
In her opening remarks, Mayor Pro Tem Stella Roberts explained this Hearing is the
second of two required public hearings in regards to a Texas Capital Fund loan --,
application process.
Assistant City Manager Don Birkner informed that the City will be the applicant for
the loan on behalf of the Reiton Corporation. We are in the process of writing the
loan application and the purpose of this Hearing is to describe the project we are
working on and describe some of the impacts it will have for the community. The
application, when completed, will be available for public inspection in the city
offices. We plan to submit this completed loan application for Council approval at
the regular meeting on April 10, 1989. If the Council approves, we will then submit
the application to the proper agencies in Austin.
Dr. Mike Reifel, President of Reiton Corporation, gave a brief personal history of
himself and a background of his work experience, leading up to the formation of his
company. Dr. Reifel gave a slide presentation concerning his company and the product
they will manufacture which is a small laser measuring device that could be used in a
variety of products to measure various production characteristics such as heat,
pressure, strain, vibration, flow, etc. Included in the slide presentation was a
description of the organization of the company in addition to a market study that was
conducted.
They are projecting, Dr. Reifel said, to employ 57 people the first year, increasing
to 252 by the 5th year. They are applying for a Texas Capital Fund loan from the
Texas Department of Commerce, through the City of Pearland, in the amount of
$450,000. These funds are to be used primarily for working capital. Out of the 57
people employed for the first year, Dr. Reifel informed, 53 will be new hires; 44 of
which will fall within low/moderate income range for Brazoria County. Out of the 44
people, 27 will actually be doing work on manufacturing the product.
101 x • II 1 ti i 5(mi 5I' (4, 11
Dr. Reifel answered questions from the audience concerning his company's operation.
Assistant City Manager Don Birkner and Richard Wiltz of Houston -Galveston Area
Council answered questions from the audience concerning the loan application process
and the City's responsibilities with this loan.
_-I 0i;;,
The Hearing adjourned at 8:02 P. M.
Minutes approved as submitted and/or corrected this day of
A. D., 1989.
ATTEST:
City Secre&ary
WJI