Min - Economic Development Corporation - 2015 - 10/07 - RegularF-Ulta'Ur --'f M(X1-CAEDCY
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BOARD OF DIRECTORS REGULAR MEETING
WEDNE:S DAY, OCTOBER 7,12015
Board
Scott Sutherland
Michael Schaeffer
Cireg Kennedy — absent
Joey Herald
Jeff Burkhardt
Peter Vargas,
Staff
Daniel Bowman
David Ellis
Melissa Reecer
Nichole Vancc
Pete Smith
Call to Order and Announce a Oluorurn Present
Guests
Rebecca Bowman
Paul Marin
Mark Cy pert
Don Powell
Joe Hilliard
Peter Holstein
Daryl Mullin
Jeff Eckert
Michael Adams, MD
David Hicks
John Castorina
Clemente Jaquez
Olin Jaye
With a quorum of the Board present with members Scott Sutherland, Michael Schaeffer, Joey Herald
and Jeff Burkhardt in attendance, the Regular Meeting of the Allen Economic Development
Corporation (AE)DC) Board of Directors was called to order by President Sutherland at 6:03 p.m. on
Wednesday, October 7, 2015, at the AFDC Offlice.
1. Approval of the Minutes of the SpVtern ber 91,20115. RegglarAEDIC Board Meetin
On a motion by Joey Herald, seconded by Jeff Burkhardt, the Board unanimously approved the
Minutes of the September 9, 20115 Regular AEDC Board Meeting.
2. ReortAEQC Office, Industrial, Data Center, Retail, and Business Retenti2,p Projects and
Upidate on the Status of AEDC Markietino Activities
Nichole Vance gave a quick marketing update to the Board and showed a video focused on the
SH 121 corridor in Allen,
31. Convene into, Closed Executive Session: P'urs u an t to, Texas _QQvea)ment Cold e, Sec tian . 551.087,
Deliberation of Economic Development Negotiations; To Deliberate Corn mucial and Financial
Information and Economic Incentives for the
Followinr.
a. Consider Development Strategy and Incentives for Wattcrs Creek Office Park
The Board reconvened into, regular session at 7:25 p.m,
Michael Schaeffer recused himself from the next closed session.
AFDC MeefingMinutes
Ocloher 7, 2015 - Page 2
4. Convene into Closed Executive Session- Pursuant to'Texas Govemment Code, Section 551.087
Deliberation of Economic Develotnent Nejzotiations-° To Deliberate CoMmercial and-F'inancial
Information and Economic Incentives for the Following:
a. Consider Incentives to Support a Medical Project in Twin Creeks Business Park
b. Consider Incentives to Recruit Project RE to the: SH 121 Corridor
The Board convened into closed session, at 7:26 p.V3
Reconme into Onen Session
The Board reconvened into regular session at 8:53 p.m.
Michael Schaeffer rejoined the Board after the closed session,
5. Actions Resulting from Executive Session
None.
On a motion by Joey Herald, seconded by Jeff Burkhardt, the Board unanimously voted to keep the
existing Board Officers., Scott Sutherland, President-, Michael Schaeffer, Vice President; Greg
Kennedy, Secretary.
7. App-Lo—val of ,EDC Financial Reports
Dan Bowman presented the financial reports to the Board. Sales tax revenue for the month of
September was 2% under budget, Sales tax revenue for October was 3% under budget. Bowman
reviewed upcoming incentive payments and budget forecasts.
On a motion by Michael Schaeffer, seconded by Joey Herald, the Board unanimously approved the
AFDC Financial Reports as presented.
8. Report on AEQ1C Office. Industrial, Data CenterRetail, and Business Pro iects and
Update on the Status of'AEDC Marketing Activities
Dan Bowman shared the status of upcoming projects with the :.EDC Board.
9. Determine Next Meeting Date - November 4. 2015
The next AEDC Board meeting is scheduled for Wednesday, November 4, 2015, at 6:00 p.m.
AFDC Afeeting Minutes
October 7, 2015 - Page 3
10. Discussion of Future Auenda Iterns
11. Adjournment
On a motion by Joey Herald, seconded by Jeff Burkhardt, the meeting was adjourned at
9:15 P.M.
'These Minutes approved this, 4'h of November, 2015.
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Scott Sutherland, President Michael Schaeffer, Vice President