Min - Economic Development Corporation - 2016 - 08/17 - Special CalledALLEN ECONOMIC DEVELOPMENT CORPORATION (AEDC)
BOARD OF DIRECTORS SPECIAL CALLED MEETING
WEDNESDAY, AUGUST 17, 2016
Board
Scott Sutherland
Michael Schaeffer
Greg Kennedy
Joey Herald
Jeff Burkhardt
Staff
Daniel Bowman
David Ellis
Nichole Vance
Pete Smith
Call to Order and Announce a Ouorum Present
Guests
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 7:35 a.m. on Wednesday, August 17, 2016, at the AEDC Office.
1. Convene into Closed Executive Session: Pursuant to Texas Local Government Code, Section
551.072 Deliberation Regarding Real Property
a. Consider Amendment of the Real Estate Option Agreement with Comerica Bank,
Trustee of the Betty C. Williams Trust Relating to a 17.086± Acre Tract of Land
Situated in the Seaborn H. Clements and Robert T. Clements Survey, Abstract No.
879, City of Allen Collin, County, Texas
The Board convened into closed session at 7:36 a.m.
Reconvene into Open Session
The Board reconvened into regular session at 8:20 a.m.
2. Actions Resulting from Executive Session
On a motion by Joey Herald, seconded by Michael Schaeffer, the Board unanimously authorized the
AEDC Director/CEO to negotiate and execute an amendment and extension of Real Estate Option
Agreement with Comerica Bank, Trustee of the Betty C. Williams Trust and TIG United Investors,
Inc. relating to a 17.086± acre tract in Seaborn and Robert CIements Survey, Abstract No. 879, Allen,
Texas.
AEDC Meeting Minutes
August 17, 1016 _ Page 2
3. Adjournment
On a motion by Jeff Burkhardt, seconded by Joey Herald, the meeting was adjourned at
8:21 a.m.
These Minutes approved this 12'h day of September, 2016.
Scott Sutherland, President Michael Schaeffer, Vice President