Min - Economic Development Corporation - 2017 - 04/19 - RegularALLEN ECONOMIC DEVELOPMENT CORPORATION (AEDC)
BOARD OF DIRECTORS REGULAR MEETING
WEDNESDAY, APRIL 19, 2017
Board
Staff Guests
Michael Schaeffer
Daniel Bowman Eric Cannon
Chris Schulmeister
David Ellis Chris Curtis
Jeff Burkhardt
Tracey Cline
Joey Herald
Melissa Dixon
Tim Litinas
Eileen Gonzales
Peter Vargas
Pete Smith
Call to Order and Announce a Quorum Present
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 President Schaeffer at
6:01 p.m. on Wednesday, April 19, 2017, at the AEDC Office.
1. Approval of the Minutes of the Regular AEDC Board Meeting on March 15, 2017
On a motion by Tim Litinas, seconded by Chris Schulmeister, the Board unanimously approved the
Minutes of the March 15, 2017, Regular AEDC Board Meeting.
2. Approval of the Minutes of the Special Called AEDC Board Meeting on March 25 2017
On a motion by Joey Herald, seconded by Tim Litinas, the Board unanimously approved the Minutes
of the March 25, 2017, Special Called AEDC Board Meeting.
3. Approval of the Minutes of the Special Called AEDC Board Meeting on March 27 2017
On a motion by Joey Herald, seconded by Tim Litinas, the Board unanimously approved the Minutes
of the March 27, 2017, Special Called AEDC Board Meeting.
4. Approval of AEDC Quarterly Financial Reports
Eric Cannon updated the Board on the AEDC financial reports for the second quarter of Fiscal Year
2017. He also reviewed the AEDC-awned land analysis with the Board.
On motion by Tim Litinas, seconded by Chris Schulmeister, the Board unanimously approved the
AEDC financial reports as presented.
AFDC Meeting Minutes
April 19, 2017 - Page 2
5. Convene into Closed Executive Session: Pursuant to Texas Government Code Section 551.087•
t
Deliberation of Economic Development Negotiations; To Deliberate Commercial and Financial
Information and Economic Incentives for the Following and Pursuant to Texas Government Code
j Section 551.072• Deliberation Regarding Real Prope :
The Board convened into closed session at 6: 34 p.m.
a. Consider Incentives for the Recruitment of Project Goldfinger II
b. Consider Incentives for the Recruitment of Project Kathryn
Reconvene into Open Session
The Board reconvened into regular session at 7:22 p.m.
6. Actions Resulting from Executive Session
On a motion by Chris Schulmeister, seconded by Jeff Burkhardt, the Board unanimously authorized
the Executive Director to negotiate and execute an amendment to the incentive agreement with
Compass Datacenters, increasing the total incentive by $400,000 as reimbursement for infrastructure
costs to be paid in accordance to staff recommendation as presented.
7. Discussion of Development Re uirements for Watters Creek Office Park
Dan Bowman discussed with the Board, the Watters Creek Office Park requirements and guidelines
for future developments within the office park.
8. Report on AEDC Projects and Marketing Activities
Daniel Bowman updated the Board on the status of current and upcoming projects.
9. Determine Next Regular Meeting Date -- May 17, 2017
The next AEDC Board meeting was scheduled for Wednesday, May 17, 2017, at 6:00 p.m.
10. Discussion of Future Agenda Items
None.
11. Adjournment
On a motion by Joey Herald, seconded by Tim Litinas, the meeting was adjourned at 7:55 p.m.
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