Min - Economic Development Corporation - 2011 - 08/17 - RegularALLEN ECONOMIC DEVELOPMENT CORPORATION (AEDC)
BOARD OF DIRECTORS
REGULAR MEETING
WEDNESDAY, AUGUST 17, 2011
Board
Staff Guests
Tim Wood
Robert Winningham (none)
Susan Bartlemay
Daniel Bowman
Carl Clemencich
Ryan Shook
Gary Caplinger
Garrett Weaver
Scott Sutherland - Absent
Kevin Laughlin
Call to Order and Announce a
Quorum 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, August 17, 2011 at the AEDC Office.
1. Approval of Minutes of the June 15, 2011 Regular Meeting
On a motion by Gary Caplinger, seconded by Susan Bartlemay, the Board unanimously
approved the Minutes of the June 15, 2011 Regular Meeting as presented.
2. Approval of Minutes of the August 9, 2011 Special Called Meeting
On a motion by Susan Bartlemay, seconded by Gary Caplinger, the Board unanimously
approved the Minutes of the August 9, 2011 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 real property,
commercial and financial information and economic incentives for the following:
• Consider Incentives for the Recruitment of Project NM
• Consider Incentives for the Recruitment of Project Whistler
• Update on the Recruitment of Project Big Top
Reconvene into Open Session:
LThe Board reconvened into regular session at 732 p.m.
AFDC Meeting Minutes
August 17, 2011 - Page 2
4. Actions Resulting from Executive Session
On a motion by Carl Clemenctch, seconded by Gary Caplinger, the Board authorized the
®® Executive Director to negotiate and execute an Economic Development Agreement with
Project NM per the Board's direction.
On a motion by Susan Bartlemay, seconded by Gary Caplinger, the Board authorized the
Executive Director to negotiate and execute an Economic Development Agreement with
Project Whistler per the Board's direction.
5. Aonroval of AEDC Financial Reports
Daniel Bowman presented the AEDC financial reports. Bowman noted that the AEDC made
payments to Cabela's and Experian in the past month. Carl Clemencich inquired about the
eligibility of Turrentine-Jackson-Morrow, to receive their grant payment. Bowman stated that
the company is still in the final stages of their renovation and will be eligible for their grant
payment upon the completion of the improvements.
Bowman noted that sales tax revenue for the current fiscal year is 7 -percent greater than the
budgeted amount and has shown a 6 -percent increase over the prior year. Susan Bartlemay
inquired about the increase to the AEDC transfer -out budget for payments to the City for
operating expenses. Robert Winningham noted that the Board had previously indicated its
willingness to increase the transfer -out expense, but wanted an explanation from the City
Manager in advance of approving such an increase. City Manager Peter Vargas stated that the
AEDC transfer -out payment to the City had not increased in six years, and City staff deemed
an increase to be appropriate after reviewing the level of City operations performed on the
AEDC's behalf. Winningham added that the AEDC frequently uses city services in its efforts
to attract business to Allen.
On a motion by Susan Bartlemay, seconded by Gary Caplinger, the Board unanimously
approved the AEDC Financial Reports as presented.
6. Discuss Administrative and Marketing Activities of the AEDC, Upcoming Events and
Local Partnerships
Robert Winningham updated the Board on administrative and marketing activities of the
AEDC, upcoming events and local partnerships. Winningham noted that based on the
Board's direction, the AEDC will be purchasing iPads this Fall for use by Board members
during Board Meetings.
E 7 AEDC Executive Director's Report Regardine Office, Industrial and Retail Projects
fl No additional projects were mentioned.
I
I
AFDC Meeting Minute%
Auguet 17, 2011 - Page 3
8. Determine Next Meeting Date
The next AEDC Board meeting was scheduled for Wednesday, September 21, 2011 at 6:00
p.m.
9 Convene into Closed Executive Session
The Board convened into closed executive session at 7:55 p.m. to discuss matters related to
the upconnng annual review of the AEDC Executive Director / CEO.
Reconvene into Open Session:
The Board reconvened into regular session at 8:07 p.m.
10. Adjourn
The meeting was officially adjourned on a motion by Susan Bartlemay, seconded by Gary
Caplinger, at 8:08 p.m.
These Minutes approved this 21" day of September 2011.
1zz�
Tim Wood, President
Carl Clemencich, Secretary/Treasurer