HomeMy WebLinkAboutMin - Economic Development Corporation - 2012 - 04/18 - RegularALLEN ECONOMIC DEVELOPMENT CORPORATION (AEDC)
BOARD OF DIRECTORS
REGULAR MEETING
WEDNESDAY, APRIL 18, 2012
Board
Tim Wood
Susan Bartlemay
Debbie Stout
Gary Caplinger
Scott Sutherland
Staff
Harry Whalen
Daniel Bowman
John Scriven
Pete Smith
Call to Order and Announce a Ouomm Present
Guests
Peter Vargas
Lee Battle
Kevin Hammeke
Joey Herald
Jeff West
Dave Snell
Don Powell
Marty Collins
Tommy Bard
With a quorum of the Board present, the Regular Meeting of the Allen Economic Development
Corporation (AEDC) Board of Directors was called to order by President Tim Wood at 6:05 p.m.
on Wednesday, April 18, 2012 at the AEDC Office.
1. Welcome Harry Whalen, New AEDC Executive Director. and Debbie Stout, Recently
Appointed AEDC Board Member
Tim Wood, AEDC Board President, introduced Harry Whalen, the new AEDC Executive
Director. A decision was made to have a reception in the coming weeks to provide an
opportunity for the Allen community and local commercial real estate brokers to meet Harry
Whalen.
2. Election of AEDC Board Secretary/Treasurer
On a motion by Susan Bartlemay, seconded by Gary Caplinger, the Board unanimously
approved the nomination and election of Scott Sutherland to the position of AEDC Board
Secretary/preasurer.
3. Approval of the Minutes of the following meetings:
• January 26,2012 Special Called Meeting
• February 3, 2012 Special Called Meeting
• February 22, 2012 Special Called Meeting
• March 21, 2012 Regular Meeting
• April 11, 2012 Special Called Meeting
AFDC M,mng MunUes
April 18, 2012 - Page 2
On a motion by Gary Caplinger, seconded by Scott Sutherland, the Board unanimously approved
the Minutes of the January 26, 2012 Special Called Meeting, February 3, 2012 Special Called
Meeting, February 22, 2012 Special Called Meeting, March 21, 2012 Regular Meeting, and the
April 11, 2012 Special Called Meeting as presented.
4. 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:
• Consider Incentives to Support Andrews Distributing
• Consider Development Proposals for AEDC-Owned Land in Millennium
Technology Park
• Discussion of Proposed Development in Allen Central Park
• Consider the Second Amended and Restated Economic Development Incentive
Agreement with Experian Information Solutions, Inc.
Reconvene into Open Session
The Board reconvened into regular session at 8:12 p.m.
5. Actions Resulting from Executive Session
On a motion by Gary Caplinger, seconded by Susan Bartlemay, the Board unanimously
approved authorizing the AEDC Executive Director to negotiate and execute an economic
development agreement with Andrews Distributing to provide a grant equivalent to a 40% tax
abatement.
On a motion by Debbie Stout, seconded by Scott Sutherland, the Board unanimously approved
authorizing the AEDC Executive Director to negotiate an agreement with Matthews Southwest
to create a development and financing plan for Allen Central Park.
On a motion by Gary Caplinger, seconded by Susan Bartlemay, the Board unanimously
approved authorizing the AEDC Executive Director to negotiate and execute an amended and
restated economic development agreement with Experian Information Solutions, Inc. to support
the company in expanding its Allen facilities.
6. Approval of the AEDC Financial Reports
Daniel Bowman presented the AEDC financial reports Bowman noted that the AEDC is
reviewing invoices from Experian prior to approving the company's request for the next
incentive payment of $426,542. Bowman mentioned that an incentive grant in the amount of
$1.100,000 is designated for Cisco Systems, but the company has not made a formal request for
the payment. Turrentine-Jackson has indicated that they may not request payment of their grant.
Kevin Hammeke commented that there has been an increase in sales tax revenues due to an
increase in retail and restaurant sales.
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AEDC Meering Minutes
April 18, 2012 - Page t
On a motion by Debbie Stout, seconded by Gary Caplinger, the Board unanimously approved the
AEDC Financial Reports as presented.
7 Executive Director's Report Regarding Administrative and Marketing Activities of the
AEDC, Upcoming Local Events, Office, Industrial Data Center. Retail, and Business
Retention Protects
Daniel Bowman updated the Board on office, industrial and retail projects. The AEDC will be
attending the Dallas Business Jounial's 20" Annual Best Real Estate Deals Awards event on
April 25" Representatives from PFSweb, Frontier Communications, and Hydrous Wake Board
Park will be attending this event.
Staff from the AEDC will be attending conferences, the IAMC Conference, TEDC Conference,
NY Recruitment Trip, and ICSC Conference in May.
Bowman will be inviting commercial real estate brokers to attend an event at Top Golf and the
new AISD Football Stadium. GDSX announced plans to expand their office on the 2nd floor at
One Allen Center in Allen Central Park. Bowman has been in discussions with the owner of a
software company that could potentially relocate to Allen.
8. Determine Next Meeting Date
The next AEDC Board meeting is scheduled for Wednesday, May 16, 2012 at 6:00 p.m.
9 Adjournment
On a motion by Debbie Stout, seconded by Gary Caplinger, the meeting was adjourned at 8:30
p.m.
These Minutes approved this 161h day of May 2012.
Tim Wood, President
Scott Sutherland, Secretary/Treasurer