Min - Economic Development Corporation - 2019 - 02/20 - RegularBoard
Michael Schaeffer
Jeff Burkhardt
Tim Litinas
Baine Brooks
Peter Vargas
ALLEN ECONOMIC DEVELOPMENT CORPORATION
BOARD OF DIRECTORS REGULAR MEETING
WEDNESDAY, FEBRUARY 20, 2019
Staff
Daniel Bowman
David Ellis
Tracey Cline
Eileen Gonzales
Nicole Bywater
Pete Smith
Call to Order and Announce a Quorum Present
Guests
Keith Jones
Chris Doggett
Dan Ptak
Melanie Hughes
Carl Clemencich
With members Michael Schaeffer, Jeff Burkhardt, Tim Litinas, and Baine Brooks 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, February 20, 2019, at the Allen
Economic Development Corporation.
1. Approval of Minutes of the Regular AEDC Board Meeting on January 23, 2019
On a motion by Baine Brooks, seconded by Tim Litinas, the Board unanimously approved the minutes
of the January 23, 2019 Regular AEDC Board Meeting.
2. Review of AEDC Sales and Use Tax Reports
Dan Bowman updated the Board on the AEDC Sales and Use Tax Reports.
3. Update on Office Leasing Activity at One Bethany East
Chris Doggett updated the Board on the office leasing activity at One Bethany East.
4. Presentation of 2018 AEDC Year End Marketing Review by AEDC Staff
Eileen Gonzales presented a report on the 2018 AEDC Year End Marketing Review.
5. Consider Approval of Infrastructure Project_ Agreement between the AEDC and City of Allen
Daniel Bowman updated the Board on the requested improvements. On a motion by Tim Litinas,
seconded by Baine Brooks, the Board unanimously approved authorizing an Infrastructure Project
Agreement with the City of Allen to provide funds to cover half the cost of the detention pond and
culvert project in an amount not to exceed $350,000.
AFDC Meeting Minutes
February 20, 2019 - Page 2
6. Consider Approval of First Amendment to Master Lease Agreement with KDP One Bethany West,
LP.
Daniel Bowman updated the Board on the amended agreement with KDP One Bethany West, LP. On
a motion by Jeff Burkhardt, seconded by Tim Litinas, the Board unanimously approved authorizing
the Executive Director to execute the First Amendment to Master Lease Agreement with KDP One
Bethany West, LP to require that the developer break ground on the project by May 3, 2019.
7. Consider Approval of First Amendment to Economic Development Incentive Agreement with
KDP One Bethany West, LP.
Daniel Bowman updated the Board on the amended agreement with KDP One Bethany West, LP. On
a motion by Jeff Burkhardt, seconded by Tim Litinas, the Board unanimously approved authorizing
the Executive Director to execute the First Amendment to Economic Development Amendment with
KDP One Bethany West, LP to require that the developer break ground on the project by May 3, 2019.
8. Consider Approval of First Amendment to Purchase and Sale Agreement with KDP One Bethany
West, -LP.
Daniel Bowman updated the Board on the amended agreement with KDP One Bethany West, LP. On
a motion by Jeff Burkhardt, seconded by Tim Litinas, the Board unanimously approved authorizing
the Executive Director to execute the First Amendment to Purchase and Sale Agreement with KDP
One Bethany West, LP to require that the developer break ground on the project by May 3, 2019.
9. 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 Items Related to One Bethany West and the Termination of Declaration of
Covenants, Conditions, and Restrictions for Millennium II Corporation Center, presently
known as Allen Central Park
b. Consider Purchase of Land on SH 121 in Allen
The Board convened into closed session at 6:41 p.m.
Reconvene -into Open Session
The Board reconvened into open session at 7:01 p.m.
0
AFDC Meeting Minutes
Febr uaty 20, 3019 - Page 3
10. Actions Resulting from Executive Session
On a motion by Baine Brooks, seconded by Tim Litinas, the Board unanimously approved authorizing
the Executive Director to take such action and sign such documents as necessary to terminate the
Declaration of Covenants, Conditions, and Restrictions for Millennium II Corporate Center Recorded
in Volume 4308, Page 1120, Real Property Records, Collin County, Texas, as amended.
11. Determine Next Regglar Meeting Date
The next AEDC Board meeting was scheduled for Wednesday, March 20, 20I9 at 6:00 p.m.
12. Discussion of Future Agenda Items
The Board would like future discussion on office space for the technology industry.
13. Adjournment
On a motion by Tim Litinas, seconded by Baine Brooks, the meeting was adjourned at 7:05 p.m.
These Minutes approved this 20`h day of March 2019.
Michael Schaeffer, Kesident
C
Tim Litinas, Secretary / Treasurer