Min - Economic Development Corporation - 2015 - 06/03 - RegularALLEN ECONOMIC DEVELOPMENT CORPORATION i(AEDC)
BOARD OF' DIRECTORS REGULAR MEETING
WEDNESDAY, JUNE 3,2 15
Board Staff Guests
Scott Sutherland Daniel Bowman Murl Richardson
Michael Schaeffer David Ellis
Greg Kennedy
Joey Herald
Jeff Burkhardt
Peter Vargas,
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Tracey Cline
Nicholie Vance
With a quorum, of the Board present with members Scott Sutherland, Michael Schaeffer,, Greg
Kennedy, Joey Herald and Jeff Burkhardt in attendance, the Regular Meeting of the Allen Economic:
Development Corporation (AEDC) Board, of Directors was called to, order by President Sutherland at
6,02 p.m. on Wednesday, June 3, 2015, at the AED,C Office.
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a. Consider Approval of a Master Lease Agreement with Peloton Commercial Real Esta
and Related Documents for the Development of an Office Building in Watters Creek
Office Park
b. Consider Incentives to Support an Office Development on SH 121
e. Consider Incentives to, Support the Expansion of an Allen Company
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4. Consider Approval of the AEDC Budget for FY 2016 and Adjustments to AEDC Budget for FY
2015,
Dan Bowmanpresented the propod FY 20115 Budget, as well as the upcoming FY
2016 Budget. Due to changes in AEDC' staffing, there will be a decrease in the personnel budget of
8.72%,for the FY 2015 budget. There will be an increase in the w budget of 7.29' for PY
2016.
Bowman, propd that there be, a separate budget put into place for Business Retention'and
Expansion, Bowman also presented the initial and long -ten -n costs, for the IT'transition from the City
to a third -party IT vendor,
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Greg Kennedy reviewed, the financials with the Board. Sales tax revenue for the month of May was
over budget by 3% and approximately 7% above the same month fTom the previous year,
Unemployment claims occurred in April due to the Economic DevelovmentSi)eciali1st viesititta lmertsi
On a motioin by Jeff Burkhardt, seconded by Michael Schaeffer, the Board unanimously approved the
AEDC Financial Reports as presented.
6. Renort on AEDC Office, Industrial, Data Center,. Retaij,i and Business Retention Projects and
Update on the Status of AEDC Marketing Activities
Nichole Vance introduced herself to the Board as the new AED,C Marketing Manager. She presented
an update on the Marketing plan, as well as, her vision and recommendations for achieving the goals
oon to marketing.
The next AEDC Board meeting is scheduled for Wednesday, July 8, 21115, at 6:00 p.m.
9. Convene into Closed Executive..Session: Pursuant to Texas Qovemment Code, Section §§2274
orfersonnel Matters: Discussion of the DutiesResl2onsi4il i ties, Pertbrrnance Evaluation and
EmploM;ent of the Execqtive Director
The Board convened 242 »d session at 7:0 1 p.m.
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7;43 p.m.
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S�cott Sutherland, President Michael Schaeffer, Vice Presiden(