HomeMy WebLinkAboutMin - Economic Development Corporation - 2022 - 02/16 - Regular ALLEN ECONOMIC DEVELOPMENT CORPORATION
{ BOARD OF DIRECTORS REGULAR MEETING
WEDNESDAY, FEBRUARY 16,2022
Board Staff Guests
Michael Schaeffer Daniel Bowman Dave Cornette
Tim Litinas David Ellis Bruce Heller
Kristina Holcomb Eileen Gonzales Stephen Cope
Carl Clemencich Nicole Bywater Michael Matthews
Emad Siddiqi Brandy Jones Coy Talley
Pete Smith
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, February 16, 2022 at
the Allen Economic Development Corporation office.
1 1. Approval of Minutes of the Regular AEDC Board Meeting on January 19, 2022
On a motion by Tim Litinas, seconded by Emad Siddiqi,the Board unanimously approved the minutes
of the January 19, 2022 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. Review of Allen Office and Industrial Vacancy and Absorption Reports
The AEDC Executive Director presented a quarterly overview of the Class A and B Office and
Industrial/Flex commercial real estate markets in Allen.
4. Consider Approval of Agreements for Marketing Services with The Point Group
On a motion by Kristina Holcomb, seconded by Tim Litinas,the Board unanimously approved
authorizing the AEDC Executive Director to execute the Marketing Agreement with The Point Group
Inc. for marketing and communications services in an amount not to exceed $28,000 for FY 2021-
;i 2022.
February 16, 2022-Page 2
5. Consider Approval of the Terms of an Economic Development Agreement with the Allen
Americans.
On a motion by Tim Litinas, seconded by Kristina Holcomb, the Board unanimously approved a
motion to authorize the Executive Director to negotiate and execute an incentive agreement with the
Allen Americans to provide an incentive grant of$75,000, for five years, subject to the standard
terms and conditions.
6. 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 Approval of Incentive Agreements to Support an Office Building Near
SH 121 and Alma Drive
b. Consider Incentives to Support Office Buildings Near SH 121 and Exchange Parkway
c. Consider Incentives to Support an Office Building at SH 121 and Chelsea Boulevard
d. Consider Incentives and the Sale of Land to Support a Mixed-Use Project at SH 121
and Stacy Road
The Board convened into closed session at 6:36 p.m.
i
Reconvene into Open Session
The Board reconvened into open session at 8:56 p.m.
7. Actions Resulting from Executive Session
On a motion by Tim Litinas, seconded by Kristina Holcomb, the Board unanimously approved the
motion to authorize the AEDC Executive Director to negotiate and execute a Master Lease Agreement
and Parking Garage Grant Agreement with JaRyCo for a Class A office building near Alma and SH
121.
8. Determine Next Regular Meeting Date
The next Regular AEDC Board meeting was scheduled for Wednesday,March 16, 2022 at 6:00 p.m.
9. Discussion of Future Agenda Items
None.
February 16, 2022-Page 3
10. Adjournment
On a motion by Kristina Holcomb, seconded by Tim Litinas, the meeting was adjourned at 9:00 p.m.
These Minutes approved this 16th day of March 2022.
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Michael Schaeffer, President Emad Siddiqi, Secretary/Treasurer
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