HomeMy WebLinkAboutMin - Economic Development Corporation - 2018 - 09/19 - Regular ALLEN ECONOMIC DEVELOPMENT CORPORATION
BOARD OF DIRECTORS REGULAR MEETING
WEDNESDAY, SEPTEMBER 19, 2018
Board Staff Guests
Michael Schaeffer Daniel Bowman Carl Clemencich
Chris Schulmeister Eileen Gonzales Bruce Heller
Jeff Burkhardt Tracey Cline
Steve Terrell Nicole Bywater
Tim Litinas Kevin Laughlin
Peter Vargas
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 6:01 p.m. on Wednesday, September 19,
2018, at the Allen Economic Development Corporation.
1. Approval of the Minutes of the Regular AEDC Board Meeting on July 18, 2018
On a motion by Chris Schulmeister, seconded by Tim Litinas, the Board unanimously approved the
minutes of the July 18, 2018 Regular AEDC Board Meeting.
2. Presentation on AEDC Financial Reports
Daniel Bowman updated the Board on the AEDC financial reports.
3. Report on AEDC Projects and Marketing Activities
AEDC staff updated the Board on the status of current and upcoming projects.
4. Presentation on 2018 Appraisals of AEDC Land Assets
Daniel Bowman updated the Board on the status of the 2018 Appraisals of AEDC Land Assets.
5. Approval of Consent to Assignment Agreement with North Texas Epitaxy, LLC and Reaction
Technology Epi, LLC
On a motion by Tim Litinas, seconded by Jeff Burkhardt, the Board unanimously approved the
111 Consent to Assignment Agreement with North Texas Epitaxy, LLC and Reaction Technology Epi,
LLC.
AEDC Meeting Minutes
September 19, 2018-Page 2
6. 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 Government Code,
Section 551.072 Deliberation Regarding Real Property:
a. Consider Incentives for the Development of Tech Center III
b. Consider Exercise of Option Under the Restriction Agreement with Kenneth W. Shaw to Support
Project Reboot
c. Discussion of Incentive Considerations Related to Development in Watters Creek, Allen CBD,
and the Allen SH 121 Corridor
The Board convened into closed session at 6:36 p.m.
Reconvene into Open Session
The Board reconvened into open session at 8:39 p.m.
7. 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 in the amount of$100,000 for reimbursement of infrastructure costs related to the
construction of Tech Center III by JaRyCo Development.
On a motion by Chris Schulmeister, seconded by Jeff Burkhardt, the Board voted unanimously to
authorize the Executive Director to execute the repurchase agreement option under the Restriction
Agreement with Kenneth W. Shaw.
8. Determine Next Regular Meeting Date
The next AEDC Board meeting is scheduled for Wednesday, October 17, 2018, at 6:00 p.m.
9. Discussion of Future Agenda Items
The Board would like future discussion on the AllenPlace utility lines and an update on SH 121
projects.
10. Adjournment
On a motion by Tim Litinas, seconded by Jeff Burkhardt, the meeting was adjourned at 8:42 p.m.
AEDC Meeting Minutes
September 19, 2018-Page 3
These Minutes approved this 17`h day of October 2018.
Michael Schaeffer, President Tim Litinas, Secretary/Treasurer