HomeMy WebLinkAboutMin - Economic Development Corporation - 2012 - 01/18 - RegularALLEN ECONOMIC DEVELOPMENT CORPORATION (AEDC)
BOARD OF DIRECTORS
REGULAR MEETING
WEDNESDAY, JANUARY 18, 2012
Board Staff Guests
Tim Wood Daniel Bowman Peter Vargas
Susan Bartlemay Ryan Shook Lee Battle
Carl Clemencich Garrett Weaver Bill de la Chappelle
Gary Caplinger Pete Smith John Carney
Scott Sutherland - Absent Linda Burns
Joey Herald
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 6:12 p.m. on Wednesday,
January 18, 2012 at the AEDC Office.
�1. Approval of the Minutes of the December 14, 2011 Regular Meeting
On a motion by Carl Clemencich, seconded by Gary Caplinger, the Board unanimously approved
the Minutes of the December 14, 2011 Regular Meeting as presented.
2. Convene into Closed Executive Session
The Board convened into closed executive session at 6:13 p.m. to deliberate real property,
commercial and financial information and economic incentives for the following:
• Consider Incentives for the Recruitment of Project Metric
Reconvene into Open Session
The Board convened into regular session at 6:50 p.m.
3. Actions Resulting from Executive Session
No actions were taken.
AFDC Meeting Minutes
Jannan,18, 2012 - Page 2
4. Consider Approval of a License for the Kiwanis Club of Allen to use AFDC Property for a
Circus
Daniel Bowman presented the License Agreement between the Kiwanis Club of Allen and the
AEDC for Board review Bowman noted that this is the same License Agreement that was used
for the Kiwanis Club Circus in 2011. Bowman stated that the event was a resounding success in
the previous year and recommended Board approval of the License Agreement for the event in
2012. Bowman also indicated that the agreement was drafted by the AFDC Attorney.
On a motion by Gary Caplinger, seconded by Carl Clemencich, the Board unanimously approved
the License Agreement for the Kiwams Club of Allen to use the AEDC-owned 18.5 acre tract,
located on the east side of US 75 between McDermott and Bethany, for a Circus.
5. Discussion of the AEDC Marketine Budeet
Daniel Bowman updated the Board on the AEDC Marketing Budget. Bowman stated that the
largest portion of the Marketing Budget for FY2012 is allocated for print advertisements,
publications and digital sponsorships. Bowman noted that 18 -percent of the AEDC Marketing
Budget is allocated for AEDC signage at Love Field Airport.
Bowman noted that 10 -percent of the Marketing Budget is allocated for the AFDC marketing
consultant, Linda Burns. Bowman mentioned that AFDC staff recently made updates to the
AEDC website and is planning to switch to a new hosting platform to increase its functionality
Bowman also noted that the AEDC Marketing Budget is used for events hosted by organizations
such as the Dallas Business Journal, NAIOP and NTCAR.
Carl Clemencich inquired if AFDC staff uses word search optimization for the AEDC Website.
Bowman stated that the newly hired website development team currently works with various
economic development entities and will implement a variety of search optimization initiatives.
Bowman stated that the purpose employing a marketing consultant is to have the assistance of a
marketing professional with strong connections in the development community. The marketing
consultant is hired to complete a variety of tasks including award submissions, grant writing, and
acting as a liaison in connecting the AFDC with potential projects. The current marketing
consultant, Linda Burns, has assisted the AFDC with various marketing events including the
Texas Stampede.
Susan Bartlemay inquired if it was possible for the Board to reassess the current role and
functions of the marketing consultant to ensure that taxpayers' dollars are used efficiently
Bowman stated that a reassessment of the marketing consultant responsibilities can be negotiated
and brought back to the Board for review
I
AFDC Meeting Minutes
Januar, 18, 2012 - Page d
6. Discussion of AEDC Staff Obiectives
Daniel Bowman presented the AEDC Staff Objectives to the Board. Bowman stated the AEDC
Staff focuses on four main operational components in pursuing economic development
opportunities: Business Recruitment, Business Retention & Expansion, Marketing, and
Administration. The AEDC staff will be held to stated performance benchmarks on an annual
basis
For example, it is proposed the staff give 24 presentations to brokers and 12 presentations to
developers annually Bowman noted that it is not necessary for the Board to take action on this
item at the current time. Staff will provide a full set of goals to cover the four AEDC operational
components at a future date.
7 Approval of the AEDC Financial Reports
Daniel Bowman presented the AEDC financial reports. Bowman noted that the AEDC recently
made incentive grant payments to TelStrat, KONE Elevators and Frontier Communications.
Bowman mentioned that Frontier Communications has hired 750 employees, which is well
above their initial employment projections.
Bowman stated that Zynga, formerly known as Project Pavillion, recently executed a lease to
occupy 17.000 -square feet in the Xtera Building. Bowman also noted that Cabela's was recently
paid the last installment of their grant. The total amount of reimbursable expenses incurred by
Cabela's is below the amount of the original AEDC bond issuance for Cabela's. Bowman
indicated that AEDC Staff will work with City Staff and the AEDC Attorney to research the
allowable uses of the remaining bond funds.
Bowman mentioned that sales tax revenues are 16 -percent higher than anticipated for the current
fiscal year, and 8 -percent above the previous fiscal year.
On a motion by Susan Bartlemay, seconded by Gary Caplinger, the Board unanimously
approved the AEDC Financial Reports as presented.
8. AEDC Executive Director's Report Reeardine Office. Industrial. and Retail Proiects
Daniel Bowman updated the Board on office, industrial and retail projects. Bowman mentioned
that brokers representing two office projects, Project Rocket and Project Legal, have indicated
that 915 Enterprise is on the short list for their respective projects. Bowman noted that Project
Med-Tech is considering the Bradford Development as a potential location, and the company
will be making a location decision soon.
Bowman noted that the Koll Development Company team has shown interest in Allen as a
possible location for a co -location data center. Bowman stated that the ribbon cutting event for
Frontier Communications will be held on January 25° Bowman noted that AEDC Broker
events will be held at Allen American games in the Allen Event Center on February 9'h and
March 8"
14
A
A
AFDC Meeting Minutes
January 18, 2012 - Page 4
9 Determine Next Meeting Date
The next AEDC Board meeting was scheduled for Wednesday, February 15, 2012 at 6:00 p.m.
10. Convene into Closed Executive Session
The Board convened into Closed Executive Session at 7:50 p.m. to discuss the employment of
the AEDC Executive Director.
Reconvene into Open Session:
The Board convened into regular session at 8:20 p.m.
11. Actions Resulting from Executive Session
No actions were taken.
12. Adioutnment
On a motion by Carl Clemencich, seconded by Susan Bartlemay, the meeting was adjourned at
8:21 p.m.
These Minutes approved this 151h day of February 2012.
.�//J(ii2l /X17.�Grrt�]
Tim Wood, Presidenf%—
Ir Trr� Lf*z2i�
Carl Clemencich, Secretary/Treasurer