Min - Economic Development Corporation - 2017 - 03/15 - RegularALLEN ECONOMIC DEVELOPMENT CORPORATION (AEDC)
BOARD OF DIRECTORS REGULAR MEETING
WEDNESDAY, MARCH 15, 2017
Board
Staff Guests
Michael Schaeffer
Daniel Bowman Matt Coltharp
Chris Schulmeister
David Ellis
Jeff Burkhardt - absent
Tracey Cline
Joey Herald - absent
Melissa Dixon
Tim Litinas
Eileen Gonzales
Peter Vargas
Andrew Matheny
Pete Smith
Call to Order and Announce a Quorum Present
With a quorum of the Board present with members Michael Schaeffer, Chris Schulmeister and Tim
Litinas in attendance, the Regular Meeting of the Allen Economic Development Corporation (AEDC)
Board of Directors was called to order by President Schaeffer at 6:01 p.m. on Wednesday, March 15,
2017, at the AEDC Office.
1. Approval of the Minutes of the Regular AEDC Board Meeting on January 18, 2017
On a motion by Chris Schulmeister, seconded by Tim Litinas, the Board unanimously approved the
Minutes of the February 15, 2017, Regular AEDC Board Meeting.
2. 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 Regarding Real Property:
The Board convened into closed session at 6:01 p.m.
a. Consider Incentives to Support the Retention and Expansion of a Local Business
b. Consider Incentives to Support the Recruitment of Project Kathryn
c. Staff Briefing on SH 121 Developments
Reconvene into Open Session
The Board reconvened into regular session at 7:38 p.m.
AEDC Meeting Minutes
March 15. 2017 -Page 2
3. Actions Resultina from Executive Session
On a motion by Tim Litinas, seconded by Chris Schulmeister, the Board unanimously authorized the
AEDC Executive Director to negotiate and execute and incentive agreement with NetScout to provide
a $6,000,000 grant and to recommend that the Allen City Council provide a 10 year, 500�10 tax
abatement or equivalent to NetScout, and authorized the Executive Director to negotiate and execute a
Purchase and Sale Agreement with Kaizen Development Partners or related entities for sale of
approximately 5 acres in Watters Office Park for the construction of an office building to be occupied
by NetScout.
On a motion by Chris Schulmeister, seconded by Tim Litinas, the Board unanimously authorized the
AEDC Executive Director to negotiate and execute an incentive agreement with ColorDynamics, Inc.
4. Consider Easement Agreement with Finistar (CA -TX) Limited Partnership
On a motion by Tim Litinas, seconded by Chris Schulmeister, the Board unanimously authorized the
Executive Director to negotiate and execute an easement agreement with Finistar (CA -TX) Limited
Partnership as presented.
5. Consider Funding Design of Sanitn Sewer Line to Support Development at SH 121 and US 75
Dan Bowman presented to the Board the possibility of design costs of a sewer line for the
development of SH 121 and US 75. No action was taken.
6. Approval of AEDC Financial Reports
Dan Bowman updated the Board on the financial reports for the month of February 2017.
On a motion by Chris Schulmeister, seconded by Tim Litinas, the Board unanimously approved the
AEDC financial reports as presented.
7. Report on AEDC Projects and Marketing Activities
Daniel Bowman updated the Board on the status of current and upcoming projects.
8. Establish March 25, 2017 as the AEDC Board Retreat Date and Review Agenda Item
Daniel Bowman confirmed with the Board that the date of the upcoming AEDC Board Retreat will be
Saturday, March 25, 2017 from 8:00 am 12:00 pm at the Hilton Garden Inn in Allen. The potential
items for the agenda were briefly reviewed.
AEDC Meeting Minutes
March 13, 2017 - Page 3
9. Determine Next Meeting Date — April 19, 2017
The next AEDC Board meeting was scheduled for Wednesday, April 19, 2017, at 6:00 p.m.
10. Discussion of Future Agenda Items
None.
11. Convene into Closed Executive Session: Pursuant to Texas Government Code Section 55.074 for
Personnel Matters: Discussion of the Duties Responsibilities, Performance Evaluation and
Emplo3ment of the Executive Director
The Board convened into closed session at 8:10 p.m.
Reconvene into Open Session
The Board reconvened into regular session at 8:20 p.m.
12. Actions_ Resulting from „Executive Session
None.
13. Adjournment
On a motion by Chris Schulmeister, seconded by Tim Litinas, the meeting was adjourned at 8:21 p.m.
These Minutes approved this 19'' day of April, 2017.
... ...... ...
Michael Schaeffer, President
Jei B ardt, S cr r a Treasurer