HomeMy WebLinkAboutMin - Economic Development Corporation - 2018 - 11/14 - Regular ALLEN ECONOMIC DEVELOPMENT CORPORATION
BOARD OF DIRECTORS REGULAR MEETING
WEDNESDAY,NOVEMBER 14, 2018
Board Staff Guests
Michael Schaeffer Daniel Bowman Carl Clemencich
Jeff Burkhardt Eileen Gonzales Eric Cannon
Tim Litinas Tracey Cline Don Bahlman
Baine Brooks Nicole Bywater
Chris Schulmeister Pete Smith
Peter Vargas
Call to Order and Announce a Ouorum Present
With members Michael Schaeffer, Jeff Burkhardt, Tim Litinas, Baine Brooks, and Chris Schulmeister
in attendance, the Regular Meeting of the Allen Economic Development Corporation (AFDC) Board
of Directors was called to order by President Schaeffer at 6:00 p.m. on Wednesday, November 14,
2018, at the Allen Economic Development Corporation.
1. Approval of Minutes of the Regular AEDC Board Meeting on October 17 2018
On a motion by Chris Schulmeister, seconded by Tim Litinas, the Board unanimously approved the
minutes of the October 17, 2018 Regular AEDC Board Meeting.
2. Approval of Quarterly AEDC Financial Reports
Eric Cannon presented the Quarterly AEDC Financial reports.
On a motion by Tim Litinas, seconded by Chris Schulmeister, the Board unanimously approved the
Quarterly AEDC Financial Reports as presented.
3. Report on AEDC Projects and Marketing Activities
AEDC staff updated the Board on the status of current and upcoming projects.
4. Approval of Consent to Assignment Agreement with Anritsu Company and Anritsu Americas
Sales Company
Daniel Bowman updated the Board on the requested assignment agreement. On a motion by Chris
Schulmeister, seconded by Tim Litinas, the Board unanimously approved the Consent to Assignment
Agreement with Anritsu Company and Anritsu Americas Sales Company.
AEDC Meeting Minutes
November 14, 2018-Page?
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 Followin and Pursuant to Texas Government Code
Section 551.072 Deliberation Regarding Real Property:
a. Approval of Economic Development Agreement with KDP One Bethany West, LP to support
an office development in Watters Creek Office Park
b. Approval of Master Lease Agreement with KDP One Bethany West, LP to support an office
development in Watters Creek Office Park
c. Approval of Purchase and Sale Agreement with KDP One Bethany West, LP to support an
office development in Watters Creek Office Park
d. Approval of Restriction Agreement with KDP One Bethany West, LP to support an office
development in Watters Creek Office Park
e. Approval of Option Agreement with Kaizen Development Partners, LLC to support an office
development in Watters Creek Office Park
f. Approval of Purchase and Sale Agreement with Billings Productions, Inc. to support a
development on Century Parkway
g. Consider Improvements to AEDC Land in AllenPlace Office Center
h. Update on Projects on SH 121 in Allen and Discussion
The Board convened into closed session at 6:29 p.m.
Reconvene into Open Session
The Board reconvened into open session at 7:17 p.m.
6. Actions Resulting from Executive Session
On a motion by Jeff Burkhardt, seconded by Tim Litinas, the Board unanimously approved the
Economic Development Agreement, Master Lease Agreement, Purchase and Sale Agreement, and
Restriction Agreement with KDP One Bethany West, LP as presented, as well as the Option
Agreement with Kaizen Development Partners, LLC with a change to include a 48-month option term.
On a motion by Jeff Burkhardt, seconded by Tim Litinas, the Board unanimously approved the
Purchase and Sale Agreement with Billings Productions, Inc. to support a development on Century
Parkway.
7. Determine Next Regular Meeting Date
The next AEDC Board meeting was scheduled for Wednesday, December 12, 2018, at 6:00 p.m.
8. Discussion of Future Agenda Items
The Board would like to discuss Project Wolverine at an upcoming meeting.
AEDC Meeting Minutes
November 14.2018-Page 3
9. Adjournment
On a motion by Tim Litinas, seconded by Jeff Burkhardt, the meeting was adjourned at 7:22 p.m.
These Minutes approved this 23'd day of January 2019.
Michael Schaeffer, President Tim Litinas, Secretary/Treasurer
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