HomeMy WebLinkAboutMin - Economic Development Corporation - 07/20 - Special Called ALLEN ECONOMIC DEVELOPMENT CORPORATION
BOARD OF DIRECTORS SPECIAL CALLED MEETING
TUESDAY,JULY 20,2021
Board Staff Guests -,.
Michael Schaeffer Daniel Bowman Dave Cornette
Tim Litinas Tim Dentler Tommy Baril
Kristina Holcomb David Ellis Stacey Greer
Carl Clemencich Nicole Bywater Brent Berg
Emad Siddiqi Lupita Castilleja Simon Bozas •
Pete Smith Jesse Llamas
Chris Landrum Srini Raghavan
Timothy Voss
Joyce Voss
Jeff Lytle
Call to Order and Announce a Quorum Present
With members Michael Schaeffer,Tim Litinas, Kristina Holcomb, Carl Clemencich and Emad Siddiqi
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 Tuesday,July 20,2021 at the
Allen Economic Development Corporation office.
:d
1. Approval of Minutes of the Regular AEDC Board Meeting on June 16,2021
On a motion by Tim Litinas,seconded by Emad Siddiqi, the Board unanimously approved the minutes
of the June 16, 2021 Regular AEDC Board Meeting.
2. Approval of EDC Ouarterly Financial Reports
City of Allen Assistant CFO Chris Landrum presented the AEDC Quarterly Financial Reports and
answered questions regarding the reports.
On a motion by Emad Siddiqi, seconded by Kristina Holcomb, the Board unanimously approved the
Quarterly Financial Reports as presented.
3. Update and Discussion with the Allen Downtown Steering Committee
Committee Chair Tommy Baril presented an overview of the project. Economic Development and
Finance Subcommittee Chair Stacey Greer facilitated a discussion with EDC Board Members
regarding possible funding sources available for to support future initiatives in downtown.
AEDC Meeting Minutes
July 20,2021-Page 2
4. 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 Codes
Section 551.072 Deliberation Regarding Real Property:
a. Consider Incentives to Support the Retention and Expansion of a Local Business
b. Consider Incentives for the Relocation of Project Wind
The Board convened into closed session at 6:36 p.m.
•
Reconvene into Open Session '
The Board reconvened into open session at 7:34 p.m.
•
5. Actions Resulting from Executive Session
On a motion by Kristina Holcomb,seconded by Tim Litinas,the Board unanimously approved a
motion to authorize the Executive Director to negotiate and execute an incentive agreement with the
Dallas Sidekicks to provide an incentive of$25,000 per year, for three years, subject to the standard
terms and conditions.
6. Determine Next Regular Meeting Date
The next AEDC Board meeting was'scheduled for Wednesday,August 18, 2021 at 6:00 p.m.
7. Discussion of Future Agenda Items
None.
8. Convene into Closed Executive Session: Pursuant to Texas Government Code, Section 551.074
for Personnel Matters: Discussion of the Duties, Responsibilities, Performance, Evaluation and
Employment of the Executive Director.
The Board convened into closed session at 7:46 p.m.
9. Reconvene into Open Session
The Board reconvened into open session at 8:37 p.m. •
AEDC Meeting Minutes
July 20,2021-Page 3
10. Actions Resulting from Executive Session
• On a motion by Emad Siddiqi, seconded by Tim Litinas, the Board unanimously approved a motion
to increase the Base Salary of the AEDC Executive Director/CEO by$10,300 effective July 2, 2021
and to authorize the Board President to negotiate and execute an amendment to his employment
agreement.
11'. Adjournment
On a motion by Kristina Holcomb, seconded by Carl Clemencich, the meeting was adjourned at
8:39 p.m.
These Minutes approved this 18`h day of August 2021.
Michael Schaeffer, President m lc , Secretary easurer