Min - Economic Development Corporation - 2005 - 06/30 - Special CalledALLEN ECONOMIC DEVELOPMENT CORPORATION (AEDC)
BOARD OF DIRECTORS
SPECIAL CALLED MEETING
June 30, 2005
Board
Staff
Kurt Kizer
Charisse Canfield
Ken Fulk
Dan Bowman
Maxine Sweet
Jennifer Grimm
Carl Clemencich
Tim Wood - Absent
Call to Order and Announce a Quorum Present
With a quorum of the Board present, the Special Called Meeting of the Allen Economic Development
Corporation (AEDC) was called to order by President Kurt Kizer at 6:06 p.m. on Thursday, June 30,
2005 at the AEDC Office. The following item was discussed:
Jack Henry & Associates, Inc, has expressed interest in purchasing the building at 1025 Central
Expressway for their future expansion plans. The company currently owns the building at 1021 Central
Expressway adjacent to the north of this building.
Trammell Crow Company, under the time of Enterprise Business Park D-2, LP, constructed the two-
story office building located at 1025 Central Expressway South in 2000. As incentive for the
development of the office building, the taxing authorities approved a 40%, 10 -year tax abatement that
became effective June 13, 2000.
Trammell Crow sold the budding to L&B Depp Enterprise II, Inc. The taxing authorities approved the
assignment of the tax abatement, which became effective October 23, 2001.
The ground floor of the building is currently occupied by Micron Technology. Jack Henry &
Associates plans to occupy the second floor of the building. The long-term plan includes Jack Henry
developing 1025 and 1021 Centml Expressway into a corporate campus.
In purchasing the building, a primary concern of Jack Henry's is that the abatement be assigned to
them.
On a motion by Maxine Sweet, seconded by Carl Clemencich, the Board approved a recommendation
to the City of Allen, Collin County and CCCCD for assignment of the tax abatement on 1025 Central
Expressway from L&B Depp Enterprise II, Inc. to Jack Henry & Associates, Inc.
Allen Economic Development Corporation
Special Called Meeting, June 30, 2005
Page 2
Dave Noble, Trammell Crow Company, contacted the Board via phone to thank the Board for moving
so quickly to approve the recommendation for the assignment of tax abatement to Jack Henry &
Associates, Inc. He also thanked the Board for partnering with Trammell Crow in the past to help
recruit companies to Allen.
Adioum.
On a motion by Maxine Sweet, seconded by Ken Fulk, the meeting was officially adjourned at
6:21 p.m.
These minutes approved this 20' day of July, 2005.
-- A
Kurt Kizer, President K& Fulk, Secretafy