Min - Economic Development Corporation - 2008 - 04/21 - Special CalledBoard
ALLEN ECONOMIC DEVELOPMENT CORPORATION (AEDC)
Guests
BOARD OF DIRECTORS
Robert Winningham
SPECIAL CALLED MEETING
Tim Wood
MONDAY APRIL 21, 2008
Board
Staff
Guests
Kurt Kizer
Robert Winningham
Pete Smith
Tim Wood
Jennifer Grimm
At Blaine
Carl Clemencich
Daniel Bowman
Olin Jaye
Gary Caplinger
Bill Dahlstrom
Maxine Sweet -Absent
Bill Park
Robert Mencke
Maroba Zoeller
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 6:10 p.m. on
Wednesday, April 21, 2008 at the AEDC Office.
1. Approval of Minutes of the March 19, 2008 Regular Meeting
On a motion by Tim Wood, seconded by Gary Caplinger, the Board unanimously approved the
Minutes of the March 19, 2008 Regular Meeting of the AEDC Board of Directors.
2. Approval of Amended and Restated Economic Development Agreement with JaRyCo
Development Company LLC
Robert Winningham updated the Board on the status of the Economic Development Agreement
with JaRyCo Development Company LLC, explaining that JaRyCo Development Company LLC
recently purchased the Allen assets of SemorHealth, the company that previously operated the
Twin Creeks Rehabilitation Hospital. JaRyCo Development is now the owner of the Twin
Creeks Rehabilitation Hospital and will be managing the operations of the facility
Daniel Bowman explained that JaRyCo Development has requested that the Economic
Development Agreement between the AEDC and JaRyCo Development, LLC be amended to
account for this change in ownership. As the new owner, JaRyo Development will be responsible
for fulfilling all of the requirements of the Economic Development Agreement and will be the
recipient of the incentive grant payment specified in the agreement. The requested amendment
will only change the name of the tenant that is required to occupy the facility The terms of the
agreement will otherwise be unaltered.
On a motion by Carl Clemencich, seconded by Gary Caplinger, the AEDC Board approved
amending the Economic Development Agreement between the AEDC and JaRyCo Development
LLC to change the name of the tenant that must occupy the facility from Twin Creeks Hospital,
LP, a Texas limited partnership and subsidiary of Advanced Clinical Services, Inc., dlb/a
SeniorHealth Incorporated, a Delaware Corporation, to TC Allen Hospital, LP
AFDC Board ojDirectors Special Called Meeting
April 21, 2008
Page 2
3. Approval of Recommendation to Allen City Council for Amendment of the Tax Abatement
Agreement by and amongthe he City of Allen, JaRvCo Development LLC and Twin Creeks
Hospital, LP
Daniel Bowman updated the Board on the status of the Tax Abatement Agreement by and among
the City of Allen, Texas, JaRyCo Development LLC and Twin Creeks Hospital, LP, a Texas
limited partnership and subsidiary of Advanced Clinical Services, Inc., d/b/a SeniorHealth
Incorporated, a Delaware corporation. Due to the recent purchase of the Allen assets of
SeniorHealth, the company that previously operated the Twin Creeks Rehabilitation Hospital, it is
being requested that the AEDC Board consider recommending that the Allen City Council amend
the tax abatement agreement to change the name of the tenant that must occupy the facility to TC
Allen Hospital LP and assign all the rights and obligations of Twin Creeks Hospital LP under the
original agreement to TC Allen Hospital LP The requested amendment will only change the
name of the tenant that is required to occupy the facility and assign the rights and obligations of
the original agreement to a new entity The terms of the agreement will otherwise be unaltered.
JaRyCo Development is the general partner for TC Allen Hospital LP JaRyCo Development is
the owner of the Twin Creeks Rehabilitation Hospital and will be managing the operations of the
facility.
On a motion by Gary Caplinger, seconded by Carl Clemencich, the AEDC Board approved a
recommendation to the Allen City Council for the amendment of the Tax Abatement Agreement
by and among the City of Allen, Texas, JaRyCo Development LLC and Twin Creeks Hospital,
LP, a Texas limited partnership and subsidiary of Advanced Clinical Services, Inc., d/b/a
SeniorHealth Incorporated, a Delaware corporation, to change the name of the tenant that must
occupy the facility to TC Allen Hospital, LP and assign all the rights and obligations of Twin
Creeks Hospital LP under the original agreement to TC Allen Hospital, LP
4. Convene into Closed Executive Session:
The Board convened into closed executive session at 6:15 p.m. to deliberate commercial and
financial information and economic incentives for the following:
• Recruitment of Project Simple
• Discussion of Workforce Development Partnership with Allen Independent School District
• Recruitment of Project Kids
• Recruitment of Project Tarheel
Reconvene in Open Session
The Board reconvened into regular session at 8:25 p.m.
5. Consider and Take Action for the Recruitment of Proiect Simple
The Board discussed the project and considered providing assistance. No action was taken on
this item.
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AFDC Board of Directors Special Called Meeting
April 21, 2008
Page 3
6. Consider and Take Action on Workforce Development Partnership with Allen Independent
School District
The Board discussed the project. No action was taken on this item.
7 Consider and Take Action for the Recruitment of Project Kids
The Board discussed the project. No action was taken on this item.
8. Consider and Take Action for the Recruitment of Project Tarheel
On a motion by Carl Clemencich, seconded by Gary Caplinger, the Board approved an incentive
grant in the amount of $150,000 to be paid to Piedmont Companies. Payment of the grant is
contingent upon the following:
• The company must proceed with the retail development to be located at the southwest
corner of Stacy Road and Greenville Avenue / SH 5, as presented to the AEDC Board
• The company must bury the electric and fiber utility lines along Stacy Road between
LOT 1 and LOT 10
• The company must provide receipts verifying the expenses incurred to bury the electric
and fiber utility lines along Stacy Road
The grant is payable upon the issuance of the first certificate of occupancy for any of the
companies occupying space in a building located on any of the pad sites fronting on Stacy Road.
9. Approval of AFDC Financial Reports
Daniel Bowman presented the AEDC Financial Reports. Carl Clemencich requested that the
AEDC Board discuss the types of infrastructure expenses that should be reimbursable by the
AEDC at a future Board meeting. On a motion by Carl Clemencich, seconded by Tim Wood, the
Board unanimously approved the Financial Reports as submitted.
10. Administrative and Marketing Activities of the AEDC /Executive Director's Report
Jennifer Grimm updated the Board on the marketing activities of the AEDC. She invited the
Board to attend the Allies Day Tour and Golf Tournament on May 5th and the Groundbreaking
Ceremony for the Allen Event Center on July 24a She distributed new AEDC golf shirts to the
Board members. Gary Caplinger and Carl Clemencich will he attending the International Council
of Shopping Centers (ICSC) convention in Las Vegas in May, along with AEDC staff, City of
Allen staff, and a member of the Allen City Council. Grimm also noted that the AEDC will be
moving to a new office in June.
Robert Winningham informed the Board that the new AEDC office will have a larger conference
room, a full kitchen, a flat screen television for presentations, and an IT control room. He also
noted that the office will be located on the second floor of the Duke building.
AFDC Board of Directors Special Called Meeting
April 21, 2008
Page A
Grimm is currently in the process of setting up meetings for the ICSC annual convention.
Winningham recommended that all of the City representatives that are planning to attend the
s j convention meet and agree on one agenda for the conference prior to the convention.
Winningham stated that Project Twist -Off is currently on hold. Cawley Wilcox Development has
stated their interest in constructing LEED certified, class A, high-rise office buildings on the
General Growth Properties (GGP) site at the southwest comer of US 75 and SH 121. Cawley
Wilcox may wait until after the SH 121 and US 75 interchange is constructed before proceeding
with the project.
It was noted that the AFDC is working on several large data center projects, as well as a few call
centers that we considering 505 Millennium Drive and Comerstone Crossing Corporate Center as
possible locations. Several data center projects are currently considering 415 Century Parkway as
a possible location.
Grimm mentioned that she is in the process of preparing a press release regarding the retention of
Amphenol Fiber Systems in Allen. Such a press release will show that the AEDC has been
successful in retaining innovative companies in Allen.
11. Scheduling of Next AFDC Board of Directors Meeting
The next Board meeting was scheduled for Wednesday, May 14, 2008 at 6:00 p.m.
12. Adioum
1
On a motion by Carl Clemencich, seconded by Tim Wood, the meeting was officially adjourned
at 8:50pin.
These minutes approved this 10 day of May 2008.
` r
Kurt Kizer, Presi at 4aflencich, Secretary