Min - Economic Development Corporation - 2017 - 10/18 - Special CalledBOARD OF DIRECTORS SPECIAL CALLED MEETING
WEDNESDAY, OCTOBER 18,2017
Board
Staff Guests
Michael Schaeffer
Daniel Bowman Greg Nelson
Jeff Burkhardt
David is
Joey Herald
Tracey Cline
Chris Schulmeister
Melissa Dixon
Tim Litinas
Eileen Gonzales
Peter Vargas
Pete it
et f m ffin
attendance, the Special Called Me ing of the Allen Economic Development Corporation (AEDC)
Board of Directors was called to order by President Schaeffer at 601 p.m. on Wednesday, October I
2017, at the AEDC Office.
On a motion by Tim Litinas, for seconded by Chris Schulmeister, the Board unanimously approved the
Minutes of the September 27, 2017 Special Called AEDC Board Meeting.
On a motion by Chris Schulmeister, seconded by Tim Litinas, the Board unanimously elected officers
M- f the corporation with Michael Schaeffer as President, Chris Schulmeister as Vice President and Tim
Litinas as Secretary!Treasurer of the AEDC Board of Directors.
Eric Cannon presented the fourth quarter financials to the Board. The Board requested that an updated
list of AEDC assets and end -of -year financials for Fiscal Year 2017 be provided to the Board in the
future.
On a motion by Joey Herald. seconded by Tim Litinas, the Board unanimously approved the AEDC
Quarterly Financial Reports.
Bethany building for Oncor.
On a motion by Joey Herald, seconded by Chris Schulmeister, the Board unanimously approved
granting a 200 square foot casement to Oncor Electric Delivery Company on Lot 2R-8, Block A,
Millennium Office Park.
5. 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 Cod
Section 551.072, Deliberation Regarding Real Property: I
Mgt
b. Overview and Discussion of Project Wolverine
c. Update on One Bethany Development
The Board re -convened into open session at 7:25 p.m. for a brief break and reconvened into closed
session at 7:30 p.m.
I
On a motion by Joey Herald, seconded by Tim Litinas, the Board unanimously approved authorizing
the AEDC Executive Director/CEO to negotiate and execute on behalf of AEDC with Sentinel Capital,
LLC, an amendment to the existing Real Estate Option Agreement.
V= amelmy'-I pigs MR=, la Im
1931YA 196WI411YA
III I 1! 111111111 11�1111 1111 11111111111 J III 111111!I Jill � �1��Ipill III, ;IIIIII �1111 11:11
,-I EDC Afeeling Minutes
October 18, 2017 - Page 3
10, A-diournment
On a motion by Joey Herald, seconded by Tim Litinas, the meeting was adjourned at 8:40 p.m.
These Minutes approved this 15`" day of November, 2017.
. . ........................
Michael Schaeffer, President Tim Litinas, Secretary / Treasurer