HomeMy WebLinkAboutMin - Economic Development Corporation - 2012 - 07/18 - RegularCall to Order and Announce a Quorum Present
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, July 18, 2012 at the AEDC Office.
�! 1. Approval of the Minutes of the lune 20, 2012 Regular Meeting
® On a motion by Gary Caplinger, seconded by Susan Bartlemay, the Board unanimously
approved the Minutes of the June 20, 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 Incentives to Support the Development of AEDC Owned Land Located
in Millennium Technology Park
Reconvene into Open Session:
The Board reconvened into regular session at 6:58 p.m.
3. Actions Resulting from Executive Session
No actions were taken
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ALLEN ECONOMIC DEVELOPMENT CORPORATION (AEDC)
BOARD OF DIRECTORS
REGULAR MEETING
WEDNESDAY, JULY 18, 2012
Board
Staff
Guests
Tim Wood
Harry Whalen
Peter Vargas
Susan Bartlemay
Daniel Bowman
Lee Battle
Scott Sutherland - Absent
John Scriven
Joey Herald
Gary Caplinger
Pete Smith
Greg Nelson
Debbie Stout
Jeff Burkhardt
Larry Holley
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) Board of Directors was called to order by President Tim Wood at 6:05 p.m.
on Wednesday, July 18, 2012 at the AEDC Office.
�! 1. Approval of the Minutes of the lune 20, 2012 Regular Meeting
® On a motion by Gary Caplinger, seconded by Susan Bartlemay, the Board unanimously
approved the Minutes of the June 20, 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 Incentives to Support the Development of AEDC Owned Land Located
in Millennium Technology Park
Reconvene into Open Session:
The Board reconvened into regular session at 6:58 p.m.
3. Actions Resulting from Executive Session
No actions were taken
I
AEDC Meeting Minutes
Juh18, 1012 - Post, 2
4. Approval of the AEDC Financial Reports
Dan Bowman presented the AEDC Financial Reports. Bowman indicated that PFSweb is
expected to seek their first grant payment of $262,500 in August. The grant requested by Dave
Noble on behalf of State Farm should be paid in August in the amount of $75,000.
Bowman plans on meeting with Photronics to review the terms of the company's economic
development agreement. No Magic, Kone, and Cabela's all have incentive grants that are
expected to be requested within the next two months. The AEDC will be paying for the first half
of the acceleration lane located between Cabela's and Stacy Road in September of 2012 in the
amount of $397,500.
Sales tax receipts for the last month were 3 -percent under budget and July sales tax receipts were
13 -percent over the monthly budgeted amount. On a motion by Debbie Stout, seconded by
Susan Bartlemay, the Board unanimously approved the AEDC Financial Reports as presented.
5. Presentation and Discussion of Prelimmary AEDC Marketine Plan
Harry Whalen presented updates on the AEDC Marketing Plan. AEDC Staff met with the
Switch Creative Group to discuss marketing plans with an emphasis on business industry sectors.
The AEDC has been working with this agency for about 3 years and they produce marketing
materials for email distribution, direct mail, magazines, broker meetings, conferences, and other
marketing avenues.
Whalen spoke about his upcoming trip to Michigan to meet with twelve to fifteen medical device
companies in an effort to recruit them to Allen. A recent meeting with Ken Jones, President of
Quest Medical, resulted in a follow-up meeting in August to learn about medical device
conferences that would be beneficial for AEDC Staff to attend.
Collin County Regional Partnership held a meeting at the AEDC office to discuss collaborative
marketing efforts. EDC representatives from Allen, Plano, Frisco and McKinney attended. The
group discussed contributing $4,000 each to promote Collin County through magazine
advertising and event sponsorship. Dan Bowman will be traveling to Washington, DC later this
month to attend a data center conference.
AEDC will have a booth at the upcoming NTCAR Annual Commercial Real Estate Expo in
Dallas on August 29`h Whalen noted that Texas will be promoted in upcoming editions of
Business Expansion and Forbes magazines and that the AEDC is planning to advertise in these
publications.
I
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AFDC Meeting Minutes
July 18, 1012 - Page 3
6. AFDC 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.
AEDC Staff met with Experian to discuss their expansion plans in Allen. In a meeting with
Andrews Distributing, Whalen discovered the company is interested in selling land adjacent to
their current facility. No Magic will host their World Conference in Allen in 2013.
AEDC Staff attended a networking coffee event with the senior leadership and Board of
Directors for Frontier Communications on July 24" Daniel McCarthy, Chief Operating Officer
of Frontier, expressed his appreciation to the AFDC and City of Allen for the support provided
when they established their branch office in Allen.
Whalen met with a financial consultant and investor who is considering submitting an EB -5
application for a client interested in bringing a data center to Allen. Project Intranet was delayed
six months due to an issue with a major client. Staff was approached by Project School Bus, a
special needs school requiring 3 acres located west of US 75. This same broker involved with
Project School Bus stated that another client is interested in locating a data center in the Dallas
area and would consider Allen.
7 Determine Next Meeting Date
The next AEDC Board meeting is scheduled for Wednesday. August 15, 2012 at 6:00 p.m.
8. Adjournment
On a motion by Susan Bartlemay, seconded by Debbie Stout, the meeting was adjourned at
7:36 p.m.
These Minutes approved this 15" day of August 2012.
Tim Wood, President
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Scott Sutherland, Secretary re• rer