HomeMy WebLinkAboutMin - Economic Development Corporation - 2018 - 03/21 - RegularALLEN ECONOMIC DEVELOPMENT CORPORATION (AEDC)
BOARD OF DIRECTORS GULA ETING
WEDNESDAY, MARCH 21, 2018
Board Staff Guests
Michael Schaeffer Daniel Bowman Barry Knight
Chris Schulmeister David Ellis Tim Wood
Jeff Burkhardt Eileen Gonzales
Joey Herald Tracey Cline
Tim Litinas Pete Smith
Peter Vargas
Call to Order and Announce a Quorum Present
With members Michael Schaeffer, Chris Schulmeister, Jeff Burkhardt, Joey Herald and Tim Litinas in
attendance, the Regular Meeting of the Allen Economic Development Corporation (AEDC) Board of
Directors was called to order by President Schaeffer at 6:00 p.m. on Wednesday, March 21, 2018, at
the AEDC Office.
1. Approval of the Minutes of the Regular AEDC Board Meeting on February 21, 2018
On a motion by Joey Herald, seconded by Tim Litinas, the Board unanimously approved the minutes
of the February 21, 2018, Regular AEDC Board Meeting.
2. Ratification of AEDC Furniture Contract with Business Interiors and AEDC Construction
Contract with Scott & Reid for the New AEDC Office at One Bethany
Eileen Gonzales presented an overview of the move budget for the buildout of the new AEDC office,
the purchase of new furniture, and installation of audio/visual equipment.
On a motion by Joey Herald, seconded by Jeff Burkhart, the Board unanimously approved ratifying
the AEDC furniture contract with Business Interiors and the AEDC construction contract with Scott
& Reid for the new AEDC office at One Bethany, as presented.
3. Approval of Economic Development Agreement with Verado Energy, Inc.
Daniel Bowman updated the Board on the Verado Energy project and requested approval of the
Economic Development Agreement with Verado Energy.
On a motion by Joey Herald, seconded by Jeff Burkhardt, the Board unanimously approved the
Economic Development Agreement with Verado Energy as presented.
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On a motion by Tim Litinas, seconded by Chris Schulmeister, the Board unanimously approved
the First Amendment to the Incentive Agreement with Allen Premium Outlets, L.P., f/k/a Chelsea
Allen Development LP.
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:
a. Consider Support for the Development of the Collin College Allen Technical Camp
b. Update and Incentive Consideration for Projects at One Bethany i
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On a motion by Chris Schulmeister, seconded by Jeff Burkhardt, the Board unanimously approvedthco,
AEDC Financial Reports as presented.
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The next AEDC Board meeting is scheduled for Wednesday, April 18, 2018, at 6:00 p.m. It will be
held at the new One Bethany East building.
*n a motion by Joey Herald, seconded by Tim Litinas, the meeting was adjourned at 6:53 p.m.
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Michael Shaeffer, Presint Tm Litinas, Secretary / Treasurer