Min - Economic Development Corporation - 2010 - 07/21 - RegularI
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ALLEN ECONOMIC DEVELOPMENT CORPORATION (AEDC)
BOARD OF DIRECTORS
REGULAR MEETING
WEDNESDAY, JULY 21, 2010
Board
Staff
Guests
Tim Wood
Robert Winningham
Peter Vargas
Susan Bartlemay
Daniel Bowman
Lee Battle
Gary Caplinger
Ryan Shook
David Rippy
Carl Clemencich
Veronica Merrick
Bill Jackson
Maxine Sweet
Pete Smith
Bob Ikel
Kent Lowder
Rob Meche
John Wright
Kerby Smith
Call to Order and Announce a Ouomm Present
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.m. on Wednesday, July 21, 2010 at the AEDC Office.
1. Recognition of the AEDC as a Recipient of the Economic Excellence Award from the
Texas Economic Development Council
Robert Winningham announced that the AEDC received the Economic Excellence Award
from the Texas Economic Development Council for the second consecutive year. The award
distinguishes Allen as one of thirty-five communities in Texas that have exemplified
excellence in economic development in the past year. The award will be presented to the
Allen City Council on Tuesday, July 27, 2010.
2. Approval of Minutes of the lune 16 2010 Regular Meeting
Dan Bowman noted the date on page one of the minutes has been changed from
April 28, 2010 to May 19, 2010. On a motion by Maxine Sweet, seconded by Susan
Bartlemay, the Board unanimously approved the Minutes of the June 16, 2010 Regular
Meeting as presented with the aforementioned changes.
3. Convene into Closed Executive Session -
The Board convened into closed executive session at 6:15 p.m. to deliberate real property,
commercial and financial information and economic incentives for the following:
July 21, 2010 - Page 2
• Consider Incentives for the Recruitment of Project Mastermind
• Consider the Purchase of a Building in Allen to Support the Expansion of a Local
Business
• Consider Amendment of the Economic Development Agreement with Trademark
Property Company
• Consider Incentives for the Recruitment of Project Scout
• Consider Incentives for the Recruitment of Project Homecoming
Reconvene in Open Session
The Board reconvened into regularsession at 8:45 p.m.
4. Actions Resulting from Executive Session
On a motion by Susan Bartlemay, seconded by Gary Caplinger, the AEDC Board
unanimously approved authorizing the Executive Director to negotiate an Economic
Development Agreement with Project Bonfire
On a motion by Gary Caplinger, seconded by Maxine Sweet, the AEDC Board unanimously
approved authorizing the Executive Director to negotiate an amendment to the existing
Economic Development Agreement with Trademark Property Company
5. Approval of AEDC Financial Reports
Dan Bowman presented the AEDC Financial Reports. Susan Bartlemay inquired if the
AEDC sales tax revenues for the current fiscal year are lower than projected. Bowman noted
that revenues are roughly two -percent lower than projected. He also noted that the annual
revenues for the AEDC are nine -percent higher than they were the preceding year in July. On
a motion by Susan Bartlemay, seconded by Maxine Sweet, the Board unanimously approved
the AEDC Financial Reports as presented.
6. Discuss Administrative and Marketing Activities of the AEDC and Upcoming Local
Events
Robert Winningham discussed the administrative and marketing activities of the AEDC and
upcoming local events. Winningham noted that the recent Cabela's groundbreaking
ceremony was very successful and that the project was the result of an excellent collaboration
between the AEDC and City Staff. He mentioned that Gary Caplinger represented the AEDC
well during his presentation at the groundbreaking
Winningham also noted that the design for the new AEDC website is in progress and will be
launched following the completion of a few minor adjustments. Winningham announced that
the new promotional sign for the City of Allen has been unveiled at Love Field Airport.
July 21, 2010 - Page 3
Winningham also stated that AEDC and City staff recently hosted a group from Berazategm,
Argentina. The visit was very informative and educational for both sides. Allen recently
received accolades from CNBC, ranking Texas as the number one state for business, and
Money Magazine, ranking Allen 16" in the "Best Places to Live."
7 AEDC Executive Director's Report Regarding Office Industrial Data Center, and Retail
Projects and Local Partnerships
Robert Winningham updated the Board on AEDC projects, announcing that Micron recently
signed a lease to occupy approximately 30,000 -square feet at 805 Central Expressway. It was
also noted that Winningham and Bo Bass will be presenting a development update at a City
Council workshop on Tuesday, July 26.
Winningham introduced Ryan Shook, who was recently hired by the AEDC for a full-time
position as Economic Development Specialist Winningham announced that this is the final
Board meeting for Veronica Merrick, as her summer internship will be ending in early
August.
Maxine Sweet announced that the AEDC will be recognized at the Experian Open House on
Friday, July 23. Guy Caplinger noted that discussions regarding the appointment of new
AEDC Board members will be held following the budget retreat. Caplinger also noted that
the deadline for the submission of Board member applications is August 6, 2010.
8. Scheduling of Next AEDC Board of Directors Meeting
The next AEDC board meeting was scheduled for Wednesday, August 18, 2010 at 6:00 p.m.
9. Adiourn
The meeting was officially adjourned on a motion by Susan Bartlemay, seconded by Maxine
Sweet, at 9:08 p.m.
These minutes approved this 18'" day of August 2010
Tim Wood, President
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Carl Clemencich, Secretary/Treasurer