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HomeMy WebLinkAboutMin - Economic Development Corporation - 12/15 - Regular ALLEN ECONOMIC DEVELOPMENT CORPORATION BOARD OF DIRECTORS REGULAR MEETING WEDNESDAY,DECEMBER 15,2021 Board Staff Guests Michael Schaeffer Daniel Bowman Brad Reitmeyer Tim Litinas David Ellis Paul Martel Kristina Holcomb Nicole Bywater John Roper Carl Clemencich Christian Smith David Shanahan Emad Siddiqi Pete Smith Luke Shanahan Bill Dahlstrom Dave Cornette 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 Wednesday, December 15,2021 at the Allen Economic Development Corporation office. 1. Approval of Minutes of the Regular AEDC Board Meeting on November 17, 2021 On a motion by Tim Litinas, seconded by Emad Siddiqi,the Board unanimously approved the minutes of the November 17, 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. 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 for the Recruitment of Project Stream b. Consider Incentives for the Recruitment of Project LifeSaver c. Consider Incentives for the Recruitment of Project Fluidics The Board convened into closed session at 6:02 p.m. Reconvene into Open Session The Board reconvened into open session at 7:44 p.m. AEDC Meeting Minutes December 15, 2021-Page 2 4. Actions Resulting from Executive Session On a motion by Kristina Holcomb, seconded by Tim Litinas, the Board unanimously approved authorizing the AEDC Executive Director to negotiate and execute an Economic Development Incentive Agreement with Resi Media or its related entities to provide cash incentives per employment position,provided the company leases at least 15,000 SF F of space in Allen and remains in Allen for at least 7 years. 5. Determine Next Regular Meeting Date The next Regular AEDC Board meeting was scheduled for Wednesday, January 19, 2022 at 6:00 p.m. 6. Discussion of Future Agenda Items None. 7. Adjournment On a motion by Emad Siddiqi, seconded by Tim Litinas, the meeting was adjourned at 7:46 p.m. 's These Minutes approved this 19th day of January 2022. Michael Schaeffer, President Emad Siddiqi, Secretary/Treasurer