Min - Economic Development Corporation - 2015 - 03/04 - RegularToro 77177=1772" F."77'rX71,17MY9
BOARD DIRECTORS REGULAR MEETING
WEDNESDAY, MARCH 4,2915
Board
Staff Guests
,Scott Sutherland
Dan Bowman Jay Demmler
Michael Schaeffer
David Ellis,
Greg Kennedy
Melissa Reecer
Joey Herald
Tracey Cline
Jeff Burkhardt
Kevin Laughlin
Peter Vargas
Call to Order and Announce -a Quorum Present
With a iquoirum of the Board present with, members Scott Sutherland, Michael Schaeffer, Greg
Kennedy, Joey Herald and Jeff Burkhardt in attendance, the Reb-ular Meeting of the Men Economic
Development Corporation (AEDC) Board of Directors was called to order by President Sutherland at
6-00 p.m. on Wednesday, February 4, 2015, at the AED,C Office.
On a motion by Joey Herald, seconded by Michael Schaeffer, the Board unanirnously approved the
Minutes of the February 4, 2015, Regiular AEDC Board Meeting,
2. Approval of the Minutes of the February 20. 2015, Special Cal led AEDC Board Mecti n g
The Board, requested that for future minutes, the Board motions be stated in a more general fashion
and note the numbler of Board mernbers that voted in favor or in opposition on a, particular item. The
Board requested that the motion related to incentives for Sentinel Capital, LLC in the February 20,
2015 minutes be changed to this format. On a motion by Greg Kennedy, seconded by Joey Herald,
the Board unanimoushLzW-roved the Minutes of the Februarw 2a—mob�Clig
Meeting with the request�ed change,
31. Convene into, Closed Executive Session: Pursuant tio Texas 3overnment Code, Section 551.087,
Deliberation of Economic Development Negotiations: To Deliberate Commercial and Financial
Inifon-nation and Economic for the Followine:
a. Consider Incentives to the Peloton Office Development in Allen Central Park
b. Consider Incentives to, Support Office Development on, SH 121
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a. Consider Purchase of Land Near SH 121 and US 75
A EDC Afeeffoig Afionues
Alarch 4, 2015 - Page 2
5.Agqtiimi&�, fro :gee E�xecq i e i�rz
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Greg Kennedy reviewed the financial reports for the month of January 20,15. Revenue for the month
was elevated in comparison with the budget. Sales tax icollecitions in January were up by 8%.
Salaries and Benefits were over budget due to an extra pay perlod in the month. Kennedy requested
,an update on AEDC marketing efforts at an upcoiming Board meeting.
On a motion by Joey Herald, seconded by Jeff Burkhardt, the Board unaniRIOUSly approved the
AEDC Financial Reports as Presented,
7. ReportWeis Office, Industrial, DataCenter. Retail and Business Retention Projectsand
Marketing Activities
Bowman gave an overvilew of several upcorning projects and leads (hat are being considered by the
AEDC. Several oif the projects are focused on the SH 121 corridor.
Commencement of construction is expected to begin in the third quarter for the IntelHEPl project.
TIG is proceeding with Gensler to design the planned 135,01010- — 175000 -square foot office buildin
on SH 12 1. Ari -Tex is also proceeding with their project.
The Marketing, Manager position has been advertised. Dan andDavid will be going throughresurn
over the next few weeks. The AEDC is looking into a contract with Atlas Advertising fo r digital
marketing services and website design.
8. Determine Next Meeting Q te,— March 4 2,015
The next AEDC Board meeting is scheduled for'Wedne!sday, April 1, 20,15, at 6:00, pm.
A EDC Alvering Minutes
March 4, 2015 -,rage 3
MINUS==
On a motion by Greg Kennedy,, seconded by Joey Herald, the meeting was adjourned at
6:55 p.m,
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ott Sutherland, President Michael Schaeffer, Vice President