Min - Economic Development Corporation - 2019 - 01/23 - Regular ALLEN ECONOMIC DEVELOPMENT CORPORATION
BOARD OF DIRECTORS REGULAR MEETING
WEDNESDAY,JANUARY 23, 2019
Board Staff Guests
Michael Schaeffer Daniel Bowman Eric Cannon
Jeff Burkhardt David Ellis Lauren Doherty
Tim Litinas Tracey Cline Zane Conkle
Baine Brooks Eileen Gonzales Dave Goldie
Chris Schulmeister Nicole Bywater Kent Smith
Shelli Siemer Pete Smith Melanie Hughes
Dan Ptak
Olin Jaye
Marvin Jolly
Call to Order and Announce a Quorum Present
With members Michael Schaeffer,Jeff Burkhardt,Tim Litinas, Baine Brooks, and Chris Schulmeister
in attendance, the Regular 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,January 23, 2019,
at the Allen Economic Development Corporation.
1. Approval of Minutes of the RegularAEDC Board Meeting on November 14 2018
On a motion by Chris Schulmeister, seconded by Tim Litinas, the Board unanimously approved the
minutes of the November 14,2018 Regular AEDC Board Meeting.
2. Approval of Quarterly AEDC Financial Reports
Eric Cannon presented the Quarterly AEDC Financial reports.
On a motion by Tim Litinas, seconded by Jeff Burkhardt,the Board unanimously approved the
Quarterly AEDC Financial Reports as presented.
3. Report on AEDC Projects and Marketing Activities
AEDC staff updated the Board on the status of current and upcoming projects.
4. _Approval of Fourth Amendment to Economic Development Incentive Agreement with Altera
AHCC, LLC
Daniel Bowman updated the Board on the agreement. On a motion by Chris Schulmeister, seconded
by Baine Brooks, the Board unanimously approved the Fourth Amendment to Economic Development
Incentive Agreement with Altera AHCC, LLC as presented.
AFDC Meeting Minutes
January 23, 2019-Page 2
5. Consider AEDC Funding for Detention Pond and Culvert Improvements in Millennium
Technology Park
Daniel Bowman updated the Board on the requested improvements. On a motion by Jeff Burkhardt,
seconded by Tim Litinas, the Board unanimously approved authorizing the Executive Director to
negotiate on behalf of the AEDC a contract for improvements in Millennium Technology Park.
6. Consider Amendment of Real Estate Purchase Agreement with Billings Productions Inc
Daniel Bowman updated the Board on the amended agreement with Billings Productions, Inc. On a
motion by Baine Brooks, seconded by Chris Schulmeister, the Board unanimously approved
authorizing the Executive Director to negotiate and execute on behalf of the AEDC the Amendment of
Real Estate Purchase Agreement with Billings Productions, Inc.
7. 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:
a. Consider Incentives for the Retention of a Local Business
b. Approval of Purchase and Sale Agreement with the United States Postal Service
c. Consider Incentives to recruit Project RE to the SH 121 Corridor
d. Consider Terms of an Option Agreement with the Howard Hughes Corporation
e. Update on Projects on SH 121 and Watters Creek Office Park in Allen
The Board convened into closed session at 6:23 p.m.
Reconvene into Open Session
The Board reconvened into open session at 8:08 p.m.
8. Actions Resulting from Executive Session
On a motion by Baine Brooks,seconded by Chris Schulmeister,the Board unanimously approved
authorizing the Executive Director to negotiate and execute on behalf of the AEDC an Incentive
Agreement with Cytracom in the amount of$200,000, and an additional $2,500 per job up to 133 jobs
added above the baseline of 67 jobs during the next five years, contingent upon Company leasing and
occupying 16,000 square feet of office space in Allen,Texas for at least a 7-year term.
On a motion by Jeff Burkhardt, seconded by Baine Brooks, the Board unanimously approved
authorizing the Executive Director to negotiate and execute on behalf of the AEDC a Purchase and
Sale Agreement with the United States Postal Service for the 4.3-acre tract at Century Parkway and
Butler Drive.
AEDC Meeting Minertes
January 23, 2019-Page 3
On a motion by Tim Litinas,seconded by Chris Schulmeister, the Board unanimously approved
authorizing the Executive Director to negotiate and execute on behalf of the AEDC an Incentive
Agreement with the Collin County Association of Realtors in the amount of$400,000 contingent upon
the company constructing a three-story building with a minimum of 30,000-square feet on 3 acres of a
site on SH 121 in Allen.
9. Determine Next Regular Meeting Date
The next AEDC Board meeting was scheduled for Wednesday, February 20, 2019 at 6:00 p.m.
10. Discussion of Future Agenda Items
The Board would like an update on Leasing at One Bethany East and discussion on the tract at SH 121
and Stacy Road. Chris Schulmeister announced his resignation from the AEDC Board of Directors.
11. Adjournment
On a motion by Tim Litinas, seconded by Jeff Burkhardt,the meeting was adjourned at 8:37 p.m.
These Minutes approved this 20`h day of February 2019.
Michael Schaeffer, President Tim Litinas, Secretary/Treasurer