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HomeMy WebLinkAboutMin - Economic Development Corporation - 2011 - 01/19 - Regular11 P Call to Order and Announce a Quorum Present. 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 6:10 p.m. on Wednesday. January 19, 2011 at the AEDC Office 1. Approval of Minutes of the December 15, 2010 Regular Meeting. On a motion by Carl Clemencich, seconded by Gary Caplinger, the Board unanimously approved the Minutes of the December 15, 2010 Regular Meeting as presented. 2. Consider Approval of the AEDC Entertainment Policy Robert Winningham presented the updated AEDC Entertainment Policy Winningham noted that the modifications to the Entertainment Policy were made in accordance with the feedback provided by the AEDC Board at the December, 2010 Board meeting. Winningham noted that the AEDC policy states that the City of Allen policies will supersede any conflict between the AEDC and City policies. On a motion by Gary Caplinger, seconded by Susan Bartlemay, the Board unanimously approved the AEDC Entertainment Policy as presented ALLEN ECONOMIC DEVELOPMENT CORPORATION (AEDC) BOARD OF DIRECTORS REGULAR MEETING WEDNESDAY, JANUARY 19, 2011 Board Staff Guests Tim Wood Robert Winningham Joey Herald Susan Bartlemay Daniel Bowman Lee Battle Carl Clemencich Ryan Shook Peter Vargas Gary Caplinger Pete Smith Katy Lane —Allen Resident Scott Sutherland —Absent 11 P Call to Order and Announce a Quorum Present. 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 6:10 p.m. on Wednesday. January 19, 2011 at the AEDC Office 1. Approval of Minutes of the December 15, 2010 Regular Meeting. On a motion by Carl Clemencich, seconded by Gary Caplinger, the Board unanimously approved the Minutes of the December 15, 2010 Regular Meeting as presented. 2. Consider Approval of the AEDC Entertainment Policy Robert Winningham presented the updated AEDC Entertainment Policy Winningham noted that the modifications to the Entertainment Policy were made in accordance with the feedback provided by the AEDC Board at the December, 2010 Board meeting. Winningham noted that the AEDC policy states that the City of Allen policies will supersede any conflict between the AEDC and City policies. On a motion by Gary Caplinger, seconded by Susan Bartlemay, the Board unanimously approved the AEDC Entertainment Policy as presented AFDC Meeting Minutes Jurnmry 19. 2011 - Page 2 3. Consider ADproval of a License for the Kiwanis Club of Allen to use AEDC Propertv for a Circus Dan Bowman presented the request by the Kiwams Club of Allen to use the 18.5 -acre tract owned by the AEDC in Millennium Technology Park for the Carson and Barnes Circus that will be hosted by the Kiwanis Club on March 25-27, 2011. Bowman noted that Pete Smith recommended that the AEDC execute a License Agreement with the Kiwanis Club of Allen and/or the Carson and Barnes Circus to insure that issues related to insurance, liability, permits, and other such matters are handled correctly. Susan Bartlemay stated that the circus has been a successful fundraiser for the Kiwanis Club of Allen in the past. On a motion by Carl Clemencich, seconded by Gary Caplinger, the Board unanimously approved authorizing the Executive Director to negotiate and execute a License Agreement with the Kiwanis Club of Allen for a circus event to be held on March 25-27 of 2011 on a portion of the 18.5 -acre tract owned by the AEDC in Millennium Technology Park, located directly south of the Allen Central Fire Station. 4 Convene into Closed Executive Session. The Board convened into closed executive session at 6:20 p.m. to deliberate real property, commercial and financial information and economic incentives for the following: I• Staff Update on the Recruitment of Project Hawkeye Reconvene into Open Session: The Board reconvened into regular session at 6:42 p.m. Actions Resulting from Executive Session No action was taken. 5. Approval of AEDC Financial Reports Dan Bowman presented the AEDC financial reports. Bowman noted that the November sales tax receipts are 16 percent greater than the amount collected the previous November. Bowman also noted that the Chelsea Outlet Mall incentive grant payments will cease July 2011, approximately two years earlier then originally anticipated. It is anticipated that the AEDC will make incentive grant payments to the Halo Group, Photronics, State Farm Insurance and Turrentine-Jackson-Morrow in February or March. On a motion by Susan Bartlemay, seconded by Gary Caplinger, the Board unanimously approved the AEDC Financial Reports as presented. AFDC Meeting Minutes ✓anunry 19, 2011 - Page 3 6. Discuss Goal Number 7 of the City of Allen Strategic Plan Robert Winningham updated the Board on the current City of Allen Strategic Plan that has been developed based on input from AEDC staff, City of Allen staff and the Allen City Council. Winningham stated that the strategic planning process provides direction for the AEDC and the City in the coming year. Goal Number 7 of the Strategic Plan focuses on City and AEDC goals and objectives related to economic development. Winningham noted that is important that the AEDC and City recruit high quality business to the SH 121 corridor due to its prime location and easy access to DEW Airport. Susan Bartlemay noted that it is important that the AEDC and City closely adhere to the strategic plan in the coming year in order to maximize its effectiveness. Bartlemay also noted that the AEDC and the City should remain focused on obtaining the greatest return to the community through recmitment of business and development Bartlemay stated that it is also important for the City to focus on redevelopment of older commercial areas of the city. Susan also inquired if the AEDC had a business retention plan. Winningham replied affirmatively. Winningham noted that it is important for the City and AEDC to focus on Allen's strengths, the identification and recruitment of target industries, and the retention of existing businesses. Tim Wood agreed, noting that it is important for the AEDC and City to stay in touch with local Allen companies in order to be effective at business retention. Dan Bowman noted that the AEDC will focus on researching the company base in Allen in order to capitalize on growing mid-sized companies in the City Gary Caplinger noted that the current effort to recruit a wakeboard park to Allen provides a good example of collaboration between the AEDC and the City Winningham agreed, noting that collaboration between the AEDC and City will be essential to Allen's continued success in the future. 7 Discuss Administrative and Marketing Activities of the AEDC and Upcoming Local Events Robert Winningham updated the Board on administrative and marketing activities of the AEDC and upcoming local events. Winningham noted that the AEDC has been working with other cities in Collin County as part of a partnership focused on regional marketing. Winningham stated that it is important for Collin County to promote its positive business climate to attract businesses from other states Winningham noted that the Dallas Business Journal's Heavy Hitters broker event will be held on April 28 at a site to be determined. Ryan Shook presented the Allen commercial vacancy reports. Shook noted that the sharp increase in industrial and flex vacancy is due to Sanmina-SCI vacating their facility at 105 W Bethany Drive recently Robert Winningham noted that AEDC staff recently attended a NTCAR broker event on the economic outlook for 2011 Economic indicators point optimistically toward a slow and gradual recovery Winningham also noted that the AEDC submitted Cabela s, Andrews I I AEDC Meeting Minutes Jammry 19, 2011 - Page 4 Distribution and The Village at Allen as candidates for the Best Real Estate Deals Awards, which will be presented by the Dallas Business Journal on February 24 at the Adolpus Hotel. 8. AEDC Executive Director's Report Reeardin z Office Industrial Data Center Retail Projects, and Local Partnerships The AEDC Executive Director did not report any additional projects. 9 Determine Next Meeting Date The next AEDC Board meeting was scheduled for Wednesday, February 16, 2011 at 6:00 p.m. 10. Adjourn The meeting was officially adjourned on a motion by Carl Clemencich, seconded by Gary Caplinger, at 7:50 p m. These Minutes approved this 16ih day of February 2011 Tim Wood, President Carl Clemencich, Secretary/Treasurer