Min - Economic Development Corporation - 2016 - 02/29 - RegularALLEN ECONOMIC DEVELOPMENT CORPORATION (AEDC)
BOARD OF DIRECTORS REGULAR MEETING
MONDAY, FEBRUARY 29, 2016
Board
Scott Sutherland
Michael Schaeffer
Greg Kennedy
Joey Herald
Jeff Burkhardt
Peter Vargas
Staff
Daniel Bowman
David Ellis
Tracey Cline
Nichole Vance
Pete Smith
Call to Order and Announce a Ouorum Present
Guests
Stephen Cracknell
Stephanie Cracknell
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 Monday, February 29, 2016, at the AEDC Office.
1. Approval of the Minutes of the February 3 2016 Re lar AEDC Board Meetin
On a motion by Greg Kennedy, seconded by Joey Herald, the Board unanimously approved the
Minutes of the February 3, 2016 Regular AEDC Board Meeting.
2. Approval of the Minutes of the February 22, 2016, Special Called AEDC Board Meeting
On a motion by Jeff Burkhardt, seconded by Greg Kennedy, the Board unanimously approved the
Minutes of the February 22, 2016 Special Called AEDC Board Meeting.
3. Update on the AEDC Branding Process
Nichole Vance shared the plan for the AEDC Branding process. The marketing firm, Firehouse, will
be conducting several focus groups in which a variety of city staff, Iocal business owners, residents,
AEDC staff and government officials will participate.
4. Consider Approval of Economic Develo ment Agreement with Jack Hefla & Associates Inc. and
Infrastructure Pro'ect Agreement with the City of Allen Texas
Dan Bowman requested that the Board approve the Economic Development Agreement with Jack
Henry & Associates, as well as the Infrastructure Project Agreement with the City of Allen. These
agreements will incentivize the company's future growth, while simultaneously increasing the
likelihood they will receive approval from the Texas Enterprise Zone Program.
AEDC Meeting Minutes
February 29, 2016 - Page 2
On a motion by Michael Schaeffer, seconded by Greg Kennedy, the Board unanimously authorized the
Executive Director to negotiate and execute both the Economic Development Agreement with Jack
Henry & Associates, and the Infrastructure Project Agreement with the City of Allen.
5. 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 Local Government
Code, Section 551.072 Deliberation Reg Real Property (the executive session for
deliberation for real property pertains to item b(d)):
a. Consider Incentives to Support Project Medical
b. Consider Incentives to Support the Expansion of Project Wafer
c. Update and Discussion of Incentives for the Retention and Expansion of Project
Timekeeper
The Board convened into closed session at 6:30 p.m.
Reconvene into Open Session
The Board reconvened into regular session at 7:39 p.m.
6. Actions Resulting from Executive Session
On a motion by Jeff Burkhardt, seconded by Joey Herald, the Board approved, with four members in
favor and one opposed, authorizing the Executive Director to negotiate and execute the incentive
agreement with US Medical IT for a grant not to exceed $25,000.
On a motion by Joey Herald, seconded by Jeff Burkhardt, the Board unanimously approved
authorizing the Executive Director to negotiate and execute the incentive agreement with Silicon
Quest International to provide a grant of $350,000, to be payable in two installments, conditioned on
the company acquiring the Okmetic operation in Allen.
7. Approval of AEDC Financial Rel2orts
Greg Kennedy provided a brief summary of the financial reports to the Board.
On a motion by Greg Kennedy, seconded by Joey Herald, the Board unanimously approved the AEDC
Financial Reports as presented.
8. Report on AEDC Business Attraction and Business Retention Projects and Update on the Status of
AEDC Marketing Activities
Dan Bowman updated the Board on the status of current and upcoming projects.
AFDC Meeting Minutes
February 29, 2016 - Page 2
Dan Bowman presented a flow chart of the current project process. The board discussed the
current process and suggestions to refine it.
5. Discussion of Staff Roles and the Evolution of the AEDC Organization
Dan Bowman explained the current main functions of the organization and staff roles.
6. Closinp- Remarks
Rich Allen summarized the main takeaways from the session.
7. Adjournment
On a motion by Joey Herald, seconded by Michael Schaefer, the meeting was adjourned at 12:04
p.m.
These Minutes approved this 60' day of April, 2016.
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Scott Sutherland, President Michael Schaeffer, Vice President