Min - Economic Development Corporation - 2019 - 07/17 - RegularBoard
Michael Schaeffer
Jeff Burkhardt
Tim Litinas
Baine Brooks
ALLEN ECONOMIC DEVELOPMENT CORPORATION
BOARD OF DIRECTORS REGULAR MEETING
WEDNESDAY, JULY 17, 2019
Staff
Daniel Bowman
David Ellis
Tracey Cline
Eileen Gonzales
Nicole Bywater
Pete Smith
Call to Order and Announce a —Quorum Present
Guests
Eric Ellwanger
Eric Cannon
Cole Henley
Lyle Patman
Jim McCaffrey
Lauren Billings
Jeremy Crum
Carl Clemencich
David Hicks
Mark Cope
Stephen Cope
With members Jeff Burkhardt, Tim Litinas, and Baine Brooks in attendance, the Regular Meeting of
the Allen Economic Development Corporation (AFDC) Board of Directors was called to order by
Vice President Burkhardt at 6:00 p.m. on Wednesday, July 17, 2019 at the Allen Economic
Development Corporation office. Board President Michael Schaeffer joined the meeting at 6:18 p.m.
1. Approval of Minutes of the Regular AEDC Board Meeting on June 19, 2019
On a motion by Baine Brooks, seconded by Tim Litinas, the Board unanimously approved the minutes
of the June 19, 2019 Regular AFDC Board Meeting.
2. Approval of Quarterly AEDC Financial Reports
Eric Cannon presented the Quarterly AEDC Financial reports.
On a motion by Tim Litinas, seconded by Baine Brooks, the Board unanimously approved the
Quarterly AEDC Financial Reports as presented.
3. Consider Approval of Fifth Amendment to Real Estate Purchase Agreement with Billies
Productions, Inc. and Other Related Documents
David Ellis updated on the AFDC Board on the project with Billings Productions, Inc.
On a motion by Michael Schaeffer, seconded by Tim Litinas, the Board unanimously approved a Fifth
Amendment to Real Estate Purchase Agreement with Billings Productions, Inc.
AEDC Meeling Minutes
July 17, 2019 - Page 2
4. Convene into Closed Executive Session: Pursuant to Texas Government Code, Section 551.087;
Deliberation of Economic Development Negotiations; To Deliberate Commercial and, Financial
Information and Economic Incentives for the Following and Pursuant to Texas Government Code,
Section 551.072 Deliberation Regarding Real Property_
a. Consider Terms of a Real Estate Agreement with The Howard Hughes Corporation
b. Consider Support for an Office Project near SH 121 and Exchange Parkway
c. Consider Support for an Office Project in the Stacy Green Development
d. Consider Support for a Development at SH 121 and Stacy Road
e. Consider Purchase of Real Estate from the United States Postal Service
The Board convened into closed session at 6:22 p.m.
A break was taken between 8:07 p.m. and 8:12 p.m.
Reconvene into Open Session
The Board reconvened into open session at 8:51 p.m.
5. Actions Resulting from Executive Session
On a motion by Tim Litinas, seconded by Baine Brooks, the Board voted unanimously to approve a
motion authorizing the Executive Director to negotiate and execute a purchase and sale agreement
with the United States Postal Service for the purchase of the existing U.S. Postal facility in Allen for a
purchase price of $1.8 million, with the AEDC having option to repurchase the subject property and
with a lease back of the property to the USPS with free rent for two years, and to negotiate and execute
the lease with the USPS and all related documents pursuant to the transaction.
6. Authorize the Executive Director to Negotiate and Execute an Agreement with „Oncor Electric
Delivery for Electric Infrastructure Improvements in the A1lenPlace Development
Dan Bowman updated the Board on the status of the project. The Board provided general feedback
directing staff not to proceed with the Oncor Electric Delivery infrastructure project at the current
time. No action was taken.
7. Discussion of Future Agenda Items
No future agenda items were discussed.
8. Determine Next Regular Meeting Date
I The next AEDC Board meeting was scheduled for Wednesday, August 14, 2019 at 6:00 p.m.
AFDC Meeting :11inuies
July 17, 2019 - Page 3
9. Adjournment
4n a motion by Tim Litinas, seconded by Baine Brooks, the meeting was adjourned at 9:05 p.m.
These Minutes approved this 14th day of August 2019.
Michael Schaeffer, President Tim Litinas, Secretary / Treasurer