HomeMy WebLinkAboutMin - Economic Development Corporation - 2018 - 06/20 - RegularALLEN ECONOMIC DEVELOPMENT CORPORATION BOARD OF DIRECTORS REGULAR MEETING
WEDNESDAY, JUNE 20, 201
Board
Michael Schaeffer Chris Schulmeister Jeff Burkhardt
Steve Terrell
Tim Litinas
Peter Vargas
Staff
Daniel Bowman Eileen Gonzales Tracey Cline Nicole Bywater Pete Smith
Guests
Carl Clemencich Frank Poradish Drew Steffen Nadia Christian
Call to Order and Announce a Quorum Present
With members Michael Schaeffer, Chris Schulmeister, Jeff Burkhardt, Steve Terrell 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, June 20, 2018, at the Allen Economic Development Corporation.
1.Approval of the Minutes of the Regular AEDC Board Meeting on May 21, 2018
On a motion by Tim Litinas, seconded by Chris Schulmeister, the Board unanimously approved the minutes of the May 21, 2018 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 Infonnation and Economic Incentives for the Following and Pursuant to Texas Government Code, Section 551.072 Deliberation Regarding Real Property:
a. Consider Incentives for Developments at SH 121 and Alma Road
b. Consider Incentives to Support the Recruitment of Project Alloy
c. Consider an Option Agreement for Land at SH 121 and US
The Board convened into closed session at 6:01 p.m.
Reconvene into Open Session
The Board reconvened into open session at 8:09 p.m.
3.Actions Resulting from Executive Session
On a motion by Tim Litinas, seconded by Jeff Burkhardt, the Board voted unanimously to authorize the Executive Director to negotiate and execute on behalf of the AEDC an Economic Development Agreement with Brass Roots Technology and Gillett Commercial to provide an incentive of $250,000.
4. Approval of AEDC Revised Budget for FY2018 and AEDC Budget for FY2019
Daniel Bowman provided an overview of the AEDC Revised Budget for FY2018 and AEDC Budget for FY2019. On a motion by Chris Schulmeister, seconded by Tim Litinas, the Board unanimously approved the AEDC Revised Budget for FY2018 and AEDC Budget for FY2019.
5. Review AEDC Financial Reports
Danial Bowman presented a summary of the AEDC financial reports. On a motion by Tim Litinas, seconded by Jeff Burkhardt, the Board approved the AEDC financial reports as presented.
6. Report on AEDC Projects and Marketing Activities
Daniel Bowman updated the Board on the status of current and upcoming projects.
7. Determine Next Regular Meeting Date -July 18. 2018
The next AEDC Board meeting is scheduled for Wednesday, July 18, 2018, at 6:00 p.m.
8. Discussion of Future Agenda Items
None.
9. Adjournment
On a motion by Chris Schulmeister, seconded by Tim Litinas, the meeting was adjourned at 8:39 p.m.
These Minutes approved this I 8th day of July 2018.