HomeMy WebLinkAboutMin - Economic Development Corporation - 2012 - 05/16 - RegularALLEN ECONOMIC DEVELOPMENT CORPORATION (AEDC)
BOARD OF DIRECTORS
REGULAR MEETING
WEDNESDAY, MAY 16, 2012
Board
Tim Wood
Susan Bartlemay
Scott Sutherland
Gary Caplinger
Debbie Stout
Staff
Harry Whalen
Daniel Bowman
Tracey Cline
Pete Smith
Call to Order and Announce a Quorum Present
Guests
Peter Vargas
Lee Battle
Kevin Hammeke
Joey Herald
Jeff West
Jack Matthews
Larry Holley
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 6:03 p.m.
on Wednesday, May 16, 2012 at the AEDC Office.
1. Approval of the Minutes of the April 18 2012 Regular Meetine
On a motion by Susan Bartlemay, seconded by Gary Caplinger, the Board unanimously
approved the Minutes of the April 18, 2012 Regular Meeting as presented.
2. 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,
a. Consider Proposed Partnership for Allen Central Park
b. Consider Incentives to Support the Recruitment of Project Software
Reconvene into Open Session:
The Board reconvened into regular session at 7:20 p.m.
3. Convene into Closed Executive Session: Pursuant to Texas Government Code Section
551.072: Deliberation Regarding the Purchase of Real Property Located at
a. Southwest Quadrant of US 75 and SH 121
b. Millennium Technology Park on Century Parkway
AEDC Meeting Mmutea
Mmv 1G, 2012 - Page 2
Reconvene into Open Session:
The Board reconvened into regular session at 7.40 p.m.
4. Actions Resulting from Executive Session
No actions were taken.
5. Approval of the AEDC Financial Reports
Dan Bowman presented the AEDC Financial Reports. Debbie Stout inquired about the
remaining funds in the AEDC Meetings Budget for the current fiscal year. Dan Bowman
indicated that funds have been expanded from that account for the purpose of prospect
recruitment.
On a motion by Debbie Stout, seconded by Scott Sutherland, the Board unanimously approved
the AEDC Financial Reports as presented.
6. Review the Allen Economic Development Corporation's Preliminary Budeet for Fiscal Year
2013 and Adjustments for Fiscal Year 2012
Daniel Bowman presented the proposed preliminary AEDC Budget which includes both
adjustments to the budget for the current fiscal year (FY 2012) and the projections for the
upcoming fiscal year (FY 2013). The AEDC Fiscal Year runs from October through September.
Bowman noted that certain budget items related to personnel are automatically generated by the
City of Allen Finance Department based on the salaries of current AEDC employees. Insurance,
Arbitrage Rebate, and Audit Fees are also supplied by the City Finance Department.
Mileage and Meetings increased due to additional driving by the AEDC Assistant Director with a
focus on direct meetings with prospects, brokers, and developers. Office supplies increased due
to the purchase of iPads for AEDC Board/Staff and future equipment purchases. There was a
decrease in Postage because AEDC has been doing less direct-mail marketing, as well as a
decrease in Landscaping due to less frequent mowing of AEDC land. The AEDC Board
generally agreed with the Preliminary AEDC Budget as presented.
7 AEDC Report Regarding Administrative and Marketing Activities of the AEDC, Upcoming
Local Events, Office, Industrial. Data Center Retail, and Business Retention Projects
Harry Whalen and Daniel Bowman updated the Board on office, industrial and retail projects.
Atlas Copco and Experian are considering the possibility of expanding at their current locations.
On May 15", AEDC Staff met with the management of a manufacturing company that is
considering Allen as a location for production of specialized motorcycles. This project is
codenamed Project Ice Age
A
AFDC Meeting Minutes
Mar 16, 2012 - Page t
An application for the IEDC Excellence in Economic Development Award was submitted by
Linda Burns on behalf of the AEDC. Harry Whalen and Dan Bowman attended the ICSC
Conference in Las Vegas from May 19-23. They made numerous contacts with retail developers
and retail tenants that are expanding to the DFW market. Staff scheduled and attended meetings
at ICSC to discuss new retail/commercial opportunities, current vacancy rates, and new
development plans in the Allen area.
8. Determine Next Meeting Date
The next AEDC Board meeting is scheduled for Wednesday. June 20, 2012 at 6:00 p.m.
9 Adjournment
On a motion by Susan Bartlemay, seconded by Debbie Stout, the meeting was adjourned at
8:02 p.m.
These Minutes approved this 20'" day of June 2012.
Tim Wood, President Scott Sutherland. Secretary/Treasurer