HomeMy WebLinkAboutMin - Economic Development Corporation - 2021 - 09/15 - Regular ALLEN ECONOMIC DEVELOPMENT CORPORATION
--r BOARD OF DIRECTORS REGULAR MEETING
WEDNESDAY, SEPTEMBER 15,2021
Board Staff Guests
Michael Schaeffer Daniel Bowman Tony Forsythe
Tim Litinas-absent David Ellis Larry Wainwright
Kristina Holcomb Eileen Gonzales
Carl Clemencich Nicole Bywater
Emad Siddiqi Christian Smith
Lupita Castilleja
Pete Smith
Call to Order and Announce a Quorum Present
With members Michael Schaeffer, 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 Wednesday, September 15, 2021
at the Allen Economic Development Corporation office.
1. Approval of Minutes of the Regular AEDC Board Meeting on August 18, 2021
On a motion by Kristina Holcomb, seconded by Emad Siddiqi,the Board unanimously approved the
minutes of the August 18,2021 Regular AEDC Board Meeting.
2. Review of AEDC Sales Tax Reports
Staff presented the AEDC Sales Tax Reports and answered questions regarding the reports.
3. Consider Items Related to the Economic Development Agreement with Boss Fight Entertainments
Inc.
On a motion by Emad Siddiqi, seconded by Kristina Holcomb,the Board unanimously approved
waiving the employment count requirement for Boss Fight Entertainment for 2021 and reevaluating
the requirement at the company's anniversary in July of 2022.
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 Code,
Section 551.072 Deliberation Regarding Real Property:
a. Consider Incentives for the Recruitment of Project Lettuce
b. Consider Incentives for the Recruitment of Project Lung
c. Consider Incentives for the Recruitment of Project Benefits
d. Update on SH 121 Projects
AEDC Meeting Minutes
September 15,2021-Page 2
The Board convened into closed session at 6:17 p.m.
Reconvene into Open Session
The Board reconvened into open session at 7:27 p.m.
5. Actions Resulting from Executive Session
On a motion by Kristina Holcomb, seconded by Emad Siddiqi,the Board unanimously approved
authorizing the AEDC Executive Director to negotiate and execute an Economic Development
incentive agreement with National Produce Consultants, LLC to provide an incentive conditional on
the company relocating their corporate headquarters to Allen and leasing office space in Allen for a
term of at least seven years.
6. Update on AEDC Compliance Program
The AEDC Office Manager presented the AEDC Annual Compliance Program overview and
answered questions regarding the program.
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7. Review of Allen Office and Industrial Vacancy and Absorption Reports
E The AEDC Executive Director presented a quarterly overview of the Class A and B Office and
Industrial/Flex commercial real estate markets in Allen.
8. Determine Next Regular Meeting Date
The next Regular AEDC Board meeting was scheduled for Wednesday, October 20, 2021 at 6:00 p.m.
9. Discussion of Future Agenda Items
None.
10. Adjournment
On a motion by Emad Siddiqi, seconded by Kristina Holcomb the meeting was adjourned at
7:52 p.m.
These Minutes approved this 20th day of October 2021.
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Michael Schaeffer, Pr ident GiVr
0'• ., Secretary measurer