Min - Economic Development Corporation - 2010 - 01/20 - RegularI
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ALLEN ECONOMIC DEVELOPMENT CORPORATION (AEDC)
BOARD OF DIRECTORS
REGULAR MEETING
WEDNESDAY, JANUARY 20, 2010
Board
Tim Wood
Carl Clemencich
Susan Bartlemay
Gary Caplinger
Maxine Sweet
Staff
Robert Winningham
Daniel Bowman
Call to Order and Announce a Quorum Present.
Guests
Pete Smith
Peter Vargas
Joey Herald
Jeff Montgomery
Jeff Patman
Lee Battle
Tyrone Wilson
With a quorum of the Board present, the Regular Meeting of the Allen Economic
Development Corporation (AEDC) was called to order by President Tim Wood at
6:12 p in. on Wednesday, January 20, 2010 at the AEDC Office.
1. Approval of Minutes of the November 18 2009 Regular Meeting
On a motion by Maxine Sweet, seconded by Gary Caplinger, the Board unanimously
approved the Minutes of the November 18, 2009 Regular Meeting as presented.
2. Approval of Minutes of the December 10 2009 Special Called Meeting
On a motion by Gary Caplinger, seconded by Maxine Sweet, the Board unanimously
approved the Minutes of the December 10, 2009 Special Called Meeting as presented.
3. Convene into Closed Executive Session:
The Board convened into closed executive session at 6:14 p.m. to deliberate commercial and
financial information and economic incentives for the following:
• Consider Incentives for the Recruitment of Project Winter
• Consider Incentives for Project Quick
Reconvene in Open Session
The Board reconvened into regular session 6:45 p.m.
Jmwaq 20, 2010 - Page 2
4. Actions Resulting from Executive Session
On a motion by Maxine Sweet, seconded by Gary Caplinger, the AEDC Board unanimously
approved a $300,000 incentive grant to support Kone Elevators and Escalators and authorized
the AEDC Executive Director to negotiate and execute an Economic Development Agreement
with the company
5. Approval of AEDC Financial Reports
Daniel Bowman presented the AEDC Financial Reports. On a motion by Carl Clemencich,
seconded by Maxine Sweet, the Board unanimously approved the AEDC Financial Reports as
presented.
6. AEDC Staff Report Regarding Office Industrial Data Center, and Retail Proiects Local
Partnerships Marketing Activities Upcommiz Events and the AEDC Incentive Grant Sheet
Robert Winningham updated the Board on AEDC activities. Winningham invited the Board
to attend the Allen Chamber Banquet on February 13a at the new Allen Marriott Courtyard
hotel, and reminded the Board that Panache will take place Saturday, January 2P
On January 30th, the Allen City Council will host its annual strategic planning retreat during
which the council will plan for the coming year Peter Vargas noted that these planning
retreats help provide direction to city staff with regards to which issues are important to the
City Council. This has helped position Allen as a premier community in North Texas.
Winningham noted that the Allen Event Center and the Cisco Production Data Center have
been nominated for the Dallas Business Journal Best Real Estate Deals awards on February
24i6 It was also noted that Collin County Day in Austin will take place on February 18'h and
19'h Winningham reminded the Board that the AEDC's option to purchase land from Peter
Ng will expire on February 18"
The AEDC recently hosted a broker event during a hockey game at the Allen Event Center
with brokers and developers from a variety of well known firms, including KDC and Colliers
AEDC staff presented information on Allen at the Marriott Hotel prior to the hockey game.
All in attendance were impressed by the Allen Event Center and the Allen community.
7 Scheduling of Next AEDC Board of Directors Meeting
The next Regular Board meeting was scheduled for Wednesday, February 17, 2010 at
6:00 p.m
8. Adiourn
The meeting was officially adjourned on a motion by Gary Caplinger, seconded by Maxine
Sweet, at 7 15 p.m.
January 20, 2010 - Page 3
These minutes approved this 17'" day of February 2010.
im Woad, President Carl Clemencich, Secretary/Treasurer
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