Min - Economic Development Corporation - 2014 - 11/05 - RegularBoard
Scott Sutherland
Michael Schaeffer
Greg, Kennedy
Joey Herald
Jeff Burkhardt
Peter Vargas
BOARD OF DIRECTORS REGULAR MEEiTfNG
WEDNESDAY, NOVEMBER 5,21014
Staff
Dan Bowman
David Ellis
Geneva Aragon
Tracey Cline
Kevin Laughlin
Guests
Ken Jonies
Rick Pickard
Brent Hodges
Murl Richardson
Sherrie Novotny
With a quorum of the Board present with members Sicott Sutherland, MichaelSichaeffer, Greg
Kennedy, Joey Herald and Jeff Burkhardt in attendance, the Regular Meeting, of the Allen Economic
Development Corporation (AEDC) Board of Directorswas called to order by President Sutherland at
,i:00 p.m., on'Wednesday, November 5, 2014, at the AEDC Office.
On a motion by Michael Schaeffer, seconded by Greg Kennedy, the, Board unanimously approved the
Minutes, ofthie September 3, 2014, Regular AEDC Board Meeting as presented.,
— I U-4 __ NOTOW11mom"I 1! 1 1 i 1619MIRONSUM
Dan Bowman, presented the Economic Development Agreement between the AEDC and the City of
Allen tic) support Pultie, Inc. The company is in the process of obtaining a direct -payment permit in
order to source sales and use taxes for materials to, sites in Allen. The a&qeemlent under consideration
woulM require the AED1C to pay 50 -percent of the 'vi -cent salesand use tax generated by these
materials to the City of Allen. The City of Allen would in turn priovide 50 -percent of the City's,
I -cent sales and use, tax generated by materi als to Pulte Inc�. Pultie has approximately 92 lots, left to
fevelopi in the city of Allen.
file I ,xwl MIT] Iner-11
1 1, 1 � Z=
0 V tMAiip I I j 10
ROWN ff7Tfff7fn—T Ni r,
to execute the agreement.
DC Meeting Minutes
November 5. 2014 - Page 2
MVMIMMM�M
Dan Bowman updated the Board on the project and requested that the Economic Development
A
gm nidge!metrics, Inc. be terminated. Bowman indicated that the company would noll
rele ent with B i
be receivinig, and future grant payments, but would not be liable to pay back the $25,000 initial
payment made by the AEDC.
Jeff Burkhardt asked if there were other options available aside from terminating' the agreement
Kevin Laughlin stated that it would be possible to amend the agreement and include a clawback
clausethat requires the repayment of the $:25,000 if the company does not remain 'in Allen for d
length of the lease as stated in, the agreement. I
ORM
WNW
I 311317mig 717-aut1rin 111Y MCI -
lease.
4, Convene into Closed Executive Session: Pursuant to Texas.Government Code—Section 551.087,
Dell"i,bgration,of Economic Development Negotiations: To Deliberate Commercial and Financial
Information and Economic for the, Following:
a, Consider Incentives to Retain and, Expand Project Heart.
b. Consider Incentives to Retain and Expand Project Home Town.
c. Consider Incentives to Retain and Expand Project Kick Off,
L Consider Memorandum of Understanding for Proposed Full Servicc Hotel in Allen
Central Park,
e. Consider Incentives to Support Office Development in Allen, Central Park, Watters; Creek
Twin Creeks: Busines's Park, Allen �Station Business Park and the Village at Allen.
a. Consider Sale of Real Estate in Allen Central Park to Support Office Development.
A . Consider Sale of Real Estate Related to AtleriPlace Office Complex.
The Board o closed executive session at 6:20, p,m.
M
AEDC Meeting Xffivaes
November 5, 2014' , Page 3'
7. Review Results of the AE,DC Board Retreat
Dan Bowman discussed the draftof the AEDC work plan for FY 2015. Michae�l Schaeffer did not
Joey Herald agreed. Scott Sutherland stated that he would like to bring back Jeff Marcell for next
year's Board Retreat. Greg Kennedy agreed. Joey Herald suggested the next AEDC Board Retreat
be in April or May of 2015
, I a a wFUNIM I III WE to I
-w wjes tal revenue tor Me month of September was $690, 010 which
exceeded the budgeted amount of $678,000. The expenses for the month of September were
$149,000.
On a motion by Michael Schaeffer, secionded by Joey Herald, the Board unanimously approved t
AEDC Financial Reports as presented. I
9. Report on AEDC Office, Industrial, Data Center. Retail,, and B
Marketing Activit es
Dian Bowman updated the Board regarding a confidential data cienter project. The company is
looking at the Howard Hughes and Stacy tract for a $300 million data center. Bowman updated the
Board on the TIG development on 12 1, Bowman also discussed the A EDC Intem positions, sharing'
that the current budget is for 52�O hours. There is, currently $75,000 budgeted for an ED Specialist
pM sition that Bowman suggested be reallocated tothe intern budga The Board generally agreed with
reallocating funds for a f -611 -time intern position or two part-time intem positions at 2080 hours for
Fiscal Year 20 1 51
Dan Bowman updated the Roard on the AEDC Holiday event on Thursday, December 4'h, . The invite
list is to include local executives, active brokers and city leaders, 'The event will be held at the Hilton
Garden Inn in, Allen.
Peter Vargas shared that there are issues with the water consumpition required by Project Azalea, a
project that recently ricengaged with the AEDC.
— ---- - --------- 15-- 1 I ,;IOUs 91M
Greg Kennedy suggested that the Board be evaluated annually before yearly Board elections,. He also
stated that the Board should do more together as a group,On a motion by Joey Herald, seconded by
jeff Burkhart, the Board unanimously approved the election of Sicoitt Sutherland as President, Michael
Schaeffer as V'ice President, and Greg Kennedy as Slecretary/Treasurer of the AEDC Board of
Directors.
A'EDC Afeefing kftngittu
November 5, 2014 - Page 4
'The next AEDC Bog is scheduled for Wednesday, December 3�, 2014, at 6:00, A
On a motion by Michael Schaeffer, seconded by Jeff Burkhardt, the mecting was adjoumed at
10:102 p.rn.
............
Scott Sutherland, President J-"S-chaef—fer, Vie, e P, 'r" , e" s, -id -le" n- t",