Loading...
HomeMy WebLinkAboutMin - Economic Development Corporation - 2009 - 09/16 - Regularn !I ALLEN ECONOMIC DEVELOPMENT CORPORATION (AEDC) BOARD OF DIRECTORS REGULAR MEETING WEDNESDAY, SEPTEMBER 16, 2009 Board Tim Wood Carl Clemencich Susan Bartlemay Gary Caplinger Maxine Sweet - Absent Staff Robert Winningham Daniel Bowman Call to Order and Announce a Quorum Present. Guests Pete Smith Peter Vargas Joey Herald Lee Battle Brandon Davenport With a quorum of the Board present, the Regular Meeting of the Allen Economic Development Corporation (AEDC) was called to order by President Tim Wood at 6:06 p.m. on Wednesday, September 16, 2009 at the AEDC Office. L Aporoval of Minutes of the August 19 2009 Regular Meeh On a motion by Carl Clemencich, seconded by Susan Bartlemay, the Board unanimously approved the Minutes of the August 19, 2009 Regular Meeting as presented. 2. Convene into Closed Executive Session The Board convened into closed executive .session at 6:08 p.m. to deliberate commercial and financial information and economic incentives for the following: • Consider Issues Related to the Economic Development Agreement with Green Shield Financial, LLC • Consider Incentives for the Recruitment of Project Smart • Consider Incentives for the Recruitment of Project Coyote Reconvene in Open Session The Board reconvened into regular session at 6:56 p.m. September 16, 2009 - Page 2 1 3. Actions Resulting from Executive Session No action taken. 4. Approval of AEDC Financial Reports Daniel Bowman presented the AEDC Financial Reports. Carl Clemencich inquired about the timing of grant payments to Green Street and Graphic Converting. Bowman noted that the AEDC will not be making an incentive payment to Graphic Converting in 2009 due to the company's noncompliance with its Economic Development Agreement. It is expected that payment of the final incentive grant installment to Green Street will be delayed. Peter Vargas noted that the overall decline in sales tax revenue to the City and the AEDC may be related to a decline in computer software sales. Bowman mentioned that Cisco Systems is currently in the process of constructing a new data center in Allen. The AEDC worked with Cisco to put in place policies and procedures that require the majority of the sales and use tax on construction materials related to the project to be sourced to the City of Allen. On a motion by Carl Clemencich, seconded by Gary Caplinger, the Board unanimously 1 approved the AEDC Financial Reports as presented. 5. Discuss Administrative and Marketing Activities of the AFDC and Upcoming Local Events Robert Winningham updated the Board on the marketing activities of the AEDC. The AEDC was an exhibitor at the recent NTCAR Expo in Dallas, at which the new AEDC booth was displayed publically for the first time. Winningham is working to increase AEDC involvement in Texas One Events. The AEDC is currently a Tier III participant in Texas One. Winningham is working with Burns Consulting to set up meetings with site selectors at the upcoming CoreNet Expo. Bowman noted that the AEDC is in the process of drafting new Allen aerial maps. Staff is also developing various online marketing tools, such as an AEDC Executive Director Blog that will appear on the AEDC website and an Allen Data Center Recruitment Video that will be featured on YouTube. Staff will be loading this data center video on USB thumb drives for distribution at the upcoming AFCOM Data Center World Conference and Expo in Orlando. J September 16, 2009 - Page 3 6. AEDC Executive Director's Report Regarding Office Industrial Data Center, and Retail Projects, and Local Partnerships Robert Winningham updated the Board on the status of various AEDC projects. Staff is working on Project RG and will be meeting with the Governor's office in the coming months to secure additional State funding for the project. It is expected that the company will eliminate one of the sites by November and make a final site decision by the end of the year Staff recently accompanied Orix, the owner of the Sanmina-SCI building, on a tour of the facility. Sanmina-SCI is not currently utilizing all of the space in the building. AEDC staff will be meeting with Allen companies on a monthly basis as part of the AEDC business retention program. Staff recently met with Dave Noble, Trammell Crow, to discuss a tenant that is at risk of relocating out of the buildings he represents in Allen Station Business Park. Project Remote is still actively pursuing sites for development, but has put their project on hold while they investigate an existing building in Plano. Lee Battle noted that Andrews has not made any formal submittals to the City of Allen. However, the company has shared their current site plan with City staff and is in the process of working to address zoning issues. City staff is ready to move forward with the project when the company is ready. 1 Carl Clemencich inquired about the status of the South Dakota company that had previously been interested to the locating to Allen. Staff has not been in contact with the company lately The company may be waiting for the results of the pending healthcare legislation before proceeding with their project. Bowman noted that staff will notify the South Dakota company regarding Project Coyote's interest in the AEDC site should Project Coyote select the Allen site as a finalist location. 7 Scheduling of Next AEDC Board of Directors Mmling The next Regular Braid meeting was scheduled for Wednesday, October 21, 2009 at 6 00 p.m. 8 Convene into Closed Executive Session: Pursuant to Texas Government Code Section 551.074 Annual Performance Review of the Executive Director/CEO The Board convened into closed executive session at 7.18 p.m. to discuss the annual performance review of the AEDC Executive Director/CEO. 9 Consider and Take Action Relating to the Annual Performance Review of the Executive Director/CEO 1 On a motion by Carl Clemencich, seconded by Gary Caplinger, the Board unanimously approved a 2% increase to the base salary of the AEDC Executive Director and incentive pay lrprcmber 16 2009 Page l 1 of $25,000 to he paid to the AEDC Executive Director The pay increase will be effective September 6, 2009 10 Adjourn The meeting was officially adjourned on a motion by Susan Bartlemay, seconded by Gary Caplinger, at 8:33 p.m. These minutes approved this 21" day of October 2009 t � Tim Wood, President Cad Clemencmh, Secretary/Treasurer 1 1