Min - Economic Development Corporation - 2015 - 12/02 - RegularBoard
Scott Sutherland
Michael Schaeffer
,Greg Kennedy
Joey Herald
Jeff Burkhardt
Peter Vargas
Staff
Daniel Bowman
David Ellis
Melissa Reecer
Pete Smith
Call to Order and Announce a Quorum Present
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
6:00, p.m. on Wednesday, December 2, 2015, at the SEDC Office.
1. Approval of the Minutes, of theNovembcr4,2015, Regplar AFDC Board Meetin
On a motion by Greg Kennedy, seconded by Joey Herald, the Board unanimously approved the
Minutes of the November 4, 2015 Regular AEDC Board Meeting.
2. Approval of the Economic Development Agreement with Chelsea Allen Develovment LP
Dan Bowman presented the ten -ns of agreement with Chelsea Allen Development, LP for the Allen
Outlet Mail expansion.,
On a motion by Michael Schaeffer, seconded by Joey Herald, the Board unanimously authorized the
Executive Director to negotiate and execute an economic development agreement with Chelsea Allen
Development LP, based on the terms presented to the AEDC Board.
3, Convene into Closed Executive Session: Pursuant to Texas Government Code, Section 551.087'.
Deliberation of Economic Development Negotiations; To Deliberate Commercial and Financial
Infon-nation and Economic Incentives fbir the FollowinZ�
a. Consider Development Strategy and Incentives for Watters Creek Office Park
b. Consider Incentives Related to Allen Data Center Projects Considering Locations, Near
the Northwest Quadrant of SH 121 & US 75-, DISCUSSION TABLED
The Board convened into closed session at 6:14 p.m,
Reconvene into, Open Session,
AEDC Meeting Minules
Decernb er 2, 2015 - Page 2
The Board reconvened into regular session at 6-33 p,m,
4. Actions Resulting ftom Executive Session
rk ITS MI-
S. Approval, of AEDC FinaUcill Reports
Greg Kennedy presented the financial reports to, the: Board. Sales tax revenue for the month of October
was 3% below budget. Operating expenses, for October were well below budget due to the start of the
new fiscal year.
On a motion by Joey Herald, seconded by Jeff Burkhardt, the, Board unanimously approved the .AE DC
Financial Reports as presented.
6. Revort on AEDC Office, Industrial, Data Center, Retail, and Business Retention Projects and
Update on the Status of AFDC Marketing Activities
Dan Bowman updated the Board on the status of current and upcoming, projects.
7'. Determine Next Meeting
The next AEDC Board meeting is scheduled for Wednesday, January 6,, 2,0116, at 6.00 p.m.
S. Discussion of FutuLq.Agendajtems
9. Convene into Closed Executive Session: Pursuant to Texas GovemmientCode Section 55 -1 -.074 -
Discussion -of the Duties,, Responsibilities, Pgrfon-nance, Evaluation and Ems plo3gaent of the
Executive Director
Reconvene into Open Session
On a motion by Scott Sutherland, seconded by Joey Herald, the meeting, was adjourned, at
7:56 pm.
These Minutes approved this 6" of'January, 201 S.
Scott Sutherland, President Michael Schaeffer, Vice President