Min - Economic Development Corporation - 2016 - 07/13 - RegularALLEN ECONOMIC DEVELOPMENT CORPORATION (AFDC)
BOARD OF DIRECTORS REGULAR MEETING
WEDNESDAY, JULY 13, 2016
Board
Scott Sutherland
Michael Schaeffer
Greg Kennedy
Joey Herald
Jeff Burkhardt - Absent
Peter Vargas
Staff
Daniel Bowman
David Ellis
Melissa Dixon
Tracey Cline
Pete Smith
Call to Order and Announce.a Quorum Present
Guests
Charles E. Webb
Julia B. Wiener
Beth M. Hearn
Daren Mers
With a quorum of the Board present with members Scott Sutherland, Michael Schaeffer, Greg
Kennedy and Joey Herald in attendance, the Regular Meeting of the Allen Economic Development
Corporation (AFDC) Board of Directors was called to order by President Sutherland at 6:03 p.m. on
Wednesday, July 13, 2016, at the AEDC Office.
1. Approval of the Minutes of the June 1, 2016, Regular AEDC Board Meeting
On a motion by Greg Kennedy, seconded by Joey Herald, the Board unanimously approved the
Minutes of the June 1, 2016 Regular AEDC Board Meeting.
2. Approval of Assignment of the Economic Development Agreement for the Allen Premium Outlet
Mall
Dan Bowman sought approval from the Board for the Assignment of the Economic Development
Agreement for the Allen Premium Outlet Mall. Bowman indicated that the project is still on track and
they expect to be open by August of 2017.
On a motion by Greg Kennedy, seconded by Joey Herald, the Board unanimously approved
authorizing the Executive Director to execute the Assignment of the Economic Development
Agreement for the Allen Premium Outlet Mall.
3. Approval of the Economic Development Agreement with Enforcement Video, LLC
Dan Bowman sought approval from the Board for the Economic Development Agreement with
Enforcement Video, LLC. Bowman indicated the company has identified a site and is prepared to
move forward.
AFDC Meeting Minutes
July 13, 2016 - Page 2
On a motion by Michael Schaeffer, seconded by Joey Herald, the Board unanimously approved
authorizing the Executive Director to execute the Economic Development Agreement as presented
with Enforcement Video, LLC.
4. Approval of the First Amendment to Economic Development Agreement with Formulife. Inc.
David Ellis sought approval from the Board for the first amendment to the Economic Development
Agreement with Formulife, Inc. Ellis indicated that this amendment does not increase the total amount
of the grant.
On a motion by Joey Herald, seconded by Greg Kennedy, the Board unanimously approved
authorizing the Executive Director to execute the First Amendment to the Economic Development
Agreement as presented with Formulife, Inc.
Visiting guest, Charles Webb, inquired about the process for bringing an existing agreement before the
Board when seeking an amendment. Scott Sutherland, Board President, explained the process.
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 Regarding Real Property:
a. Consider Incentives for the Recruitment of a Data Center to Area Near the Northwest
Quadrant of Stacy Road and US 75
The Board convened into closed session at 6:20 p.m.
Reconvene into Open Session
The Board reconvened into regular session at 6:45 p.m.
6. Actions Resulting from Executive Session
None.
7. Approval of AEDC Financial Reports
Greg Kennedy provided a brief summary of the financial reports to the Board.
On a motion by Michael Schaeffer, seconded by Joey Herald, the Board approved the AEDC Financial
Reports as presented.
AFDC Meeting Minutes
July 13, 2016 Page 3
8. Discussion of AEDC Board Guidelines for Proiects Receiving Incentive Consideration
Dan Bowman presented to the Board a general set of guidelines that could be used internally by
AEDC staff to evaluate which office projects should be brought before the AEDC Board for incentive
consideration. The AEDC Board generally agreed with the guidelines presented.
9. Report on AEDC Office, Industrial, Data Center, Retail, and Business Retention Projects and
Update on the Status of Marketing Activities
Dan Bowman updated the Board on the status of current and upcoming projects.
10. Determine Next Meeting Date -, August 3.2016
The next AEDC Board meeting is scheduled for Wednesday, August 3, 2016, at 6:00 p.m.
11. Discussion of Future Agenda Items
The Board discussed having AEDC staff review AEDC projects and Allen economic activity with the
AEDC Board on a quarterly basis. It was indicated that a joint meeting between the AEDC Board and
the Allen City Council could be scheduled for September.
12. Convene into Closed Executive Session: Pursuant to Texas Government Code, Section 551.074:
Discussion of the Duties Responsibilities, Performance Evaluation and Em to ent of the
Executive Director:
The Board convened into closed session at 7:26 p.m.
Reconvene into Open Session
The Board reconvened into regular session at 8:15 p.m.
13. Actions Resulting from Executive Session
On a motion by Joey Herald, seconded by Michael Schaeffer, the Board unanimously approved the
increase of the Executive Director's base salary to $135,000 effective July 2, 2016.
14. Adjournment
On a motion by Joey Herald, seconded by Greg Kennedy, the meeting was adjourned at
8:16 p.m.
QEDC Meeting Minutes
July 13, 2016 - Page 4
These Minutes approved this Yd day of August, 2016.
reg Kennedy, Treasurer
Michael Schaeffer, Vice President