Min - Economic Development Corporation - 2017 - 09/27 - Special CalledALLEN ECONOMIC DEVELOPMENT CORPORATION (AEDC)
BOARD OF DIRECTORS SPECIAL CALLED MEETING
WEDNESDAY, SEPTEMBER 27,2017
Board
14ichael scha�;
Jeff Burkhardt
Joey Herald
Chris Schulmeist
Tim Litinas
Peter Vargas
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lficf!Aul, MY .1-11.7.4-larat, joey Aerald andTim Litinas in
attendance, the Special Called Meeting of the Allen Economic Development Corporation (AEDC)
Board of Directors was called to order by President Schaeffer at 6:00 p.m. on Wednesday, September
27, 2017, at the AEDC Office.
Zoo, - t Trcayty Z ►III Mara unanimously ►approved the
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Minutes of the July 19, 2017, Regular AEDC Board Meeting.
2. Al2proval of the Minutes -of the Joint Workshop Meetin g of the A EDC Board and the Al len--City
Council on -August 2, 2017
Tyrtrfr- MrOffo—p"Ifig or Ine AEJTC-6�0a�rand the Allen City Council on August 2,
2017.
3. Convene into Closed Executive Session: Pursuant to Texas Government Code, Section 551.087-,
Deliberation of -Economic Development Negotiations: To Deliberate Commercial and Financial
Information and Economic -Incentives for the Following and Pursuant to Texas Government Code,
Section 551.072: Deliberation RMarding Rpil Property:
a. Consider Incentives for the Recruitment of Project Pavilion
b. Consider Incentives for the Recruitment of Project F250
c. Discussion of AEDC Property in Watters Creek Office Park at US 75 and Bethany
Drive
On a motion by Chris Schulmeister, seconded by Jeff Burkhardt, the Board authorized the Executive
Director/CE0 to negotiate and execute an incentive agreement with Boss Fight Entertainment on
condition that Boss Fight lease and occupy approximately 13,500 square feet of office space in One
Bethany at Watters Creek.
5. ConsiLdder r" i, the AEDC Executive Director to Negotiate and Execute the Office Lease
Agreement.with One Bethany Development Partners LP
Dan Bowman updated the Board on the AEDC Lease Agreement. On a motion by Jeff Burkhardt,
seconded by Tim Litinas, the Board authorized the Executive Director to negotiate and execute the
Office Lease Agreement with One Bethany Development Partners LP as presented.
6. Consider and Take Action to Amend Terms of Economic Development Agreement with TOPS
Software ii ;i
Dan Bowman updated the Board on the Economic Development Agreement with TOPS Software
Corporation. On a motion by Tirn Litinas, seconded by Chris Schulmeister, the Board authorized the
amendment of the Economic Development Agreement, as presented, with Tops Software Corporation
to reduce the required Minimum Taxable Value from $175,000 to $50,000 per year.
7. Consider and Take Action to A end Terms of Economic-Develonment Agreement with Sidekicks
Si2orts Management. LL
Dan Bowman updated the Board on the Sidekicks operation in Allen. On a motion by Joey Herald,
seconded by Tim Litinas, the Board authorized the amendment of the Economic Development
Agreement with Sidekicks Sports Management, LLC, as presented.
EMCEE
Daniel Bowman updated the Board on the status of current and upcoming projects.
The next AEDC Board meeting is scheduled for Wednesday, October 18, 2017, at 6:00 p.m.
AE DC Aleeiing A finwes
Seplember 2 7, 2017 - Page 3
I I . Discussion of Fut-re A.,
12. AdLournment
On a motion by Tim Litinas, seconded by Chris Schuhneister, the meeting was adjourned at 7.40 p.m.
These Minutes approved this 181h day of October, 2017.
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e i hard ec ary/ Treasurer