Min - Economic Development Corporation - 2016 - 04/25 - RegularALLEN ECONOMIC DEVELOPMENT CORPORATION (AEDC)
BOARD OF DIRECTORS SPECIAL CALLED MEETING
MONDAY, APRIL 25, 2016
Board
Scott Sutherland
Michael Schaeffer
Greg Kennedy
Joey Herald
Jeff Burkhardt
Peter Vargas
Staff
Daniel Bowman
David Ellis
Melissa Reecer
Tracey Cline
Nichole Vance
Kevin Laughlin
Call to Order and Announce a Quorum Present
Guests
David Angeles
Bob Heckel
With a quorum of the Board present with members Scott Sutherland, Michael Schaeffer, Greg
Kennedy, Joey Herald and Jeff Burkhardt in attendance, the Special Called 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, April 25, 2016, at the AEDC Office.
1. Approval of the Minutes of the April 6 2016. Regular AEDC Board Meeting
On a motion by Joey Herald, seconded by Michael Schaeffer, the Board unanimously approved the
Minutes of the April 6, 2016 Regular AEDC Board Meeting.
2. 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 Regarding Real Property:
a. Approval of Office Development Plans for Allen Development Partners 1, LP
b. Approval of Master Lease Agreement with Allen Development Partners I, LP
c. Approval of Economic Agreement with Allen Development Partners I, LP
d. Authorize the AEDC Executive Director to Negotiate the Right of First Refusal
Agreement with Allen Development Partners I, LP
e. Authorize the AEDC Executive Director to Negotiate the Reciprocal Parking and
Access Easement Agreement with Allen Development Partners I, LP
f. Consider Incentives to Retain and Expand Project Header
The Board convened into closed session at 6:02 p.m.
Reconvene into Open Session
The Board reconvened into regular session at 7:56 p.m.
AFDC Meeting Minutes
April 25, 2016. Page 2
3. Actions Resulting from Executive Session
On a motion by Joey Herald, seconded by Michael Schaeffer, the Board unanimously approved the
Office Development Plans for Allen Development Partners I, LP as presented.
On a motion by Joey Herald, seconded by Greg Kennedy, the Board unanimously authorized the
Executive Director to execute the Master Lease Agreement with Allen Development Partners I, LP as
presented.
On a motion by Michael Schaeffer, seconded by Joey Herald, the Board unanimously authorized the
Executive Director to execute the Economic Development Agreement with Allen Development
Partners I, LP as presented.
On a motion by Greg Kennedy, seconded by Joey Herald, the Board unanimously authorized the
Executive Director to negotiate the final form of Right of First Refusal Agreement with Allen
Development Partners I, LP.
On a motion by Joey Herald, seconded by Greg Kennedy, the Board unanimously authorized the
Executive Director to negotiate and execute an incentive agreement with Project Header.
4. Discussion of the Ideal Characteristics of a Candidate for AEDC Board Membership
The AEDC Board discussed the ideal characteristics of a candidate for AFDC Board membership.
5. Approval of AEDC Financial Reports
Greg Kennedy provided a brief summary of the financial reports to the Board.
On a motion by Joey Herald, seconded by Michael Schaeffer, the Board unanimously approved the
AEDC Financial Reports as presented.
6. Report on AEDC Business Projects and Update on Completed Projects and Marketing Activities
Dan Bowman updated the Board on the status of current and upcoming projects.
7. Determine Next Meeting Date June 1, 2016
The next AEDC Board meeting is scheduled for Wednesday, June 1, 2016, at 6:00 p.m.
8. Discussion of Future Agenda Items
No future agenda items were specified.
AFDC Meeting Minutes
April 25, 1016 - Page 3
9. Adjournment
On a motion Joey Herald, seconded by Greg Kennedy, the meeting was adjourned at
8:05 p.m.
These Minutes approved this 1St day of June, 2016.
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Scott Sutherland, President Michael Schaeffer, Vice President