Min - Economic Development Corporation - 2016 - 06/01 - RegularALLEN ECONOMIC DEVELOPMENT CORPORATION (AEDC)
BOARD OF DIRECTORS REGULAR MEETING
WEDNESDAY, JUNE 1, 2016
Board
Staff
Guests
Scott Sutherland
Daniel Bowman
Kent Smith
Michael Schaeffer
David Ellis
Zane Conkle
Greg Kennedy
Melissa Dixon
John Pollack
Joey Herald
Tracey Cline
Bruce Heller
Jeff Burkhardt
Nichole Vance
Peter Vargas
Andrew Matheny
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, June 1, 2016, at the AEDC Office.
1. Approval of the Minutes of the Al2ril 25 2016 Special Called AEDC Board Meeting at 8:00 a.m.
On a motion by Greg Kennedy, seconded by Joey Herald, the Board unanimously approved the
Minutes of the April 25, 2016 Special Called AEDC Board Meeting at 8:00 a.m.
2. Approval of the Minutes of the A ril 25 2016 Special Called AEDC Board Meeting at 6:00 p.m.
On a motion by Michael Schaeffer, seconded by Joey Herald, the Board unanimously approved the
Minutes of the April 25, 2016 Special Called AEDC Board Meeting at 6:00 p.m.
3. Consider a Recommendation to the City of Allen and Collin County for Tax Abatement to Support
One Bethany Development Partners LP
Daniel Bowman provided a brief update on the office development that is being planned by Kaizen
Partners in Watters Creek Office Park.
On a motion by Greg Kennedy, seconded by Joey Herald, the Board unanimously approved a
recommendation to the City of Allen and Collin County for a tax abatement for One Bethany
Development Partners, LP.
AEDC Meeting Minutes
June 1, 2016 - Page 1
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 Local Government
Code, Section 551.072 Deliberation Regarding Real Property:
a. Consider Incentives for the Construction of a Pedestrian Connection at Watters Creek
b. Consider Incentives for Development East of 75 Near McDermott
c. Consider Incentives for the Recruitment of Project Marconi
d. Consider Incentives for the Expansion of Project Attraction
The Board convened into closed session at 6:05 p.m.
Reconvene into Open Session
The Board reconvened into regular session at 8:27 p.m.
5. Actions Resulting from Executive Session
On a motion by Greg Kennedy, seconded by Michael Schaeffer, the Board unanimously authorized the
negotiation and execution of an Economic Development Agreement with Cytracom to provide an
incentive grant to support the relocation of the company to Allen.
6. 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 Scott Sutherland, the Board approved the AEDC Financial
Reports as presented.
7. Approval of the AEDC Budget for FY 2017 and Adjustments to the AEDC Budget for FY 2016
On a motion by Joey Herald, seconded by Jeff Burkhardt, with Scott Sutherland and Michael
Schaeffer in opposition and Greg Kennedy in support, the Board voted to approve the AEDC Budget
for FY 2017 and the adjustments of the AEDC Budget for FY 2016.
8. Report on AEDC Business Projects and Update on Completed Projects and Marketing Activities
Daniel Bowman updated the Board on the status of current and upcoming projects.
9. Determine Next Meeting Date -, July 13 2016
The next AEDC Board meeting is scheduled for Wednesday, July 13, 2016, at 6:00 p.m.
AFDC Meeting Minutes
June 1, 3016 - Paga?? 3
10. Discussion of Future Agenda Items
The Board would like to have a discussion to determine the parameters for the types of projects that
come before the Board for incentive consideration in the future,
11. Adiournment
On a motion Joey Herald, seconded by Jeff Burkhardt, the meeting was adjourned at
9:10 P.M.
These Minutes approved this 13`x' day of July, 2016.
Scott SuTherland, President Michael Schaeffer, Vice President