Min - Economic Development Corporation - 2016 - 10/03 - RegularALLEN ECONOMIC DEVELOPMENT CORPORATION (AEDC)
BOARD OF DIRECTORS REGULAR MEETING
MONDAY, OCTOBER 3, 2016
Board
Michael Schaeffer
Chris Schulmeister
Jeff Burkhardt
Joey Herald
Tim Litinas
Peter Vargas - absent
Staff
Daniel Bowman
David Ellis
Andrew Matheny
Tracey Cline
Kevin Laughlin
Call to Order and Announce a Ouorum Present
Guests
Eric Cannon
Derrick Evers
Nick Summerville
Lee White
David Gordon
With a quorum of the Board present with members Michael Schaeffer, Chris Schulmeister, Jeff
Burkhardt, Joey Herald and Tim Litinas in attendance, the Regular Meeting of the Allen Economic
Development Corporation (AEDC) Board of Directors was called to order by Vice President Schaeffer
at 6:00 p.m. on Monday, October 3, 2016, at the AEDC Office.
1. Presentation of Excellence in Economic Development Awards from the International Economic
DeveIo ment Council
David Ellis presented an overview of the Excellence in Economic Development Awards from the
Intemational Economic Development Council that were awarded for AEDC marketing
accomplishments, including the AEDC website, video brochures and community profile.
2. Approval of the Minutes of the Regular AEDC Board Meeting on September 12, 2016
On a motion by Joey Herald, seconded by Jeff Burkhardt, the Board unanimously approved the
Minutes of the September 12, 2016 Regular AEDC Board Meeting.
On a motion by Joey Herald, seconded by Jeff Burkhardt, the Board unanimously approved the AEDC
Board Officers as follows: Michael Schaefer, President; Chris Schulmeister, Vice President; and Jeff
Burkhardt, Secretary/Treasurer.
4. Convene into Closed Executive Session: Pursuant to Texas Government Code Section 551.087•
Deliberation of Economic Develo meat Negotiations, To Deliberate Commercial and Financial
Information and Economiving and Pursuant to Texas Local Government
Code Section 551.072 Deliberation Regarding Real Property:
a. Consider Incentives and Sale of Real Property in Watters Creek Office Park
b. Discussion of the Purchase of Real Property Located at the Southeast Quadrant of
Stacy Road and SH 121
AEDC Meeting Minutes
October 3, 2016 - Page 2
The Board convened into closed session at 6:13 p.m.
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David Gordon of Estrada Hinojosa and Eric Cannon, City of Allen CFO, presented a proposal to
refinance existing AEDC bond debt and issue additional bond debt for the purchase of land. The
AEDC Board discussed the matter.
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a. Consider Incentives and Sale of Real Property in Watters Creek Office Park
b. Discussion of the Purchase of Real Property Located at the Southeast Quadrant of Stacy
Road and SH 121
The Board convened into closed session at 7:23 p.m.
Reconvene into Open Session
The Board reconvened into regular session at 8:58 p.m.
5. Actions Resultine from Executive Session
On a motion by Joey Herald, seconded by Jeff Burkhardt, the Board unanimously approved
authorizing the AEDC Executive Director to negotiate a revised purchase and sale agreement between
the Allen Economic Development Corporation and Kaizen Development Partners, LLC.
7. Approval of AEDC Financial Reports
Dan Bowman provided a brief summary of the financial reports.
On a motion by Joey Herald, seconded by Tim Litinas, the Board approved the AEDC Financial
Reports as presented.
8. Re ort on AEDC Office Industrial and
Update on the Status of Marketinp, Activities
Dan Bowman and David Ellis updated the Board on the status of current and upcoming projects.
9. Determine Next Meeting Date — November 2 2016
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Personnel Matters. Discussion of the Duties, Responsibilities, Performance, Evaluation and
EmployLnent of the Executive Director
The Board convened into closed session at 9: 10 p.m.
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The or reconvened into regular session at 9:42 p.m.
12. Actions Resulting from Executive Session
On a motion by Joey Herald, seconded by Jeff Burkhardt, the Board authorized the AEDC Executive
Director to advertise fora Marketing Director position for the AEDC.
13. Adjournment
JIM a motion by Joey Aerald, seconded by Jeff Bur.liardt, the meeting was adjourned at
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Michael Schaeffer, President Ch -� s
ulmeister, Vice President