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