HomeMy WebLinkAboutMin - Economic Development Corporation - 2022 - 09/21 - Regular ALLEN ECONOMIC DEVELOPMENT CORPORATION
BOARD OF DIRECTORS REGULAR MEETING
WEDNESDAY,SEPTEMBER 21,2022
Board Staff Guests
Michael Schaeffer Daniel Bowman Todd Price
Carl Clemencich Nicole Bywater Ben Trahan
Kristina Holcomb David Ellis Paul Martel
Tim Litinas Eileen Gonzales Paul Hellquist
Emad Siddiqi Jan Jungmann Paul Slusser
Christian Smith Jorge Tiznado
Pete Smith Marvin Mansilla
Eric Ellwanger Randy Heady
Sayres Heady
Logan Menocal
Kyle McCullah
Robert Dye
Ado Diaz
Greg Marconi
Neal Golden
Call to Order and Announce a Quorum Present
With members Michael Schaeffer,Tim Litinas,Kristina Holcomb, and Carl Clemencich and Emad
Siddiqi in attendance, the Regular Meeting of the Allen Economic Development Corporation(AEDC)
Board of Directors was called to order by President Schaeffer at 6:03 p.m. on Wednesday, September
21, 2022 at the Allen Economic Development Corporation office.
1. Approval of Minutes of the Regular AEDC Board Meeting on August 17,2022
On a motion by Tim Litinas, seconded by Kristiana Holcomb,the Board unanimously approved the
minutes of the August 17, 2022 Regular AEDC Board Meeting.
2. Review of AEDC Sales Tax Reports
Staff presented the AEDC Sales Tax Reports and answered.questions regarding the reports.
3. Review and Ratify Payment of Construction Expenses for Renovations and Repairs at the Old Post
Office Facility on Boyd Drive
On a motion by Kristina Holcomb, seconded by Tim Litinas,the Board unanimously approved
contracts for renovations and repairs at the Old Post Office Facility on Boyd Drive in an amount not to
exceed $30,000.
AEDC Meeting Minutes
September 21,2022-Page 2
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:
a. Consider Approval of Economic Development Agreement with Pushpay USA, Inc.
b. Consider Approval of Incentives to Support the Recruitment of Project Dietary
c. Consider Approval of Incentives to Support the Recruitment of Project String
d. Consider Incentives to Support a Mixed-Use Project at Stacy and SH 121
e. Update and Input on Mixed-Use Projects on SH 121 in Allen
5. Convene into Closed Executive Session: Pursuant to Texas Government Code, Section 551.072
Deliberation Regarding Real Property for the Following:
a. Consider the Sale of Land to Support a Mixed-Use Project at Stacy Road and SH 121
The Board convened into closed session at 6:06 p.m.
Reconvene into Open Session
The Board reconvened into open session at 9:18 p.m.
- - 6. Actions Resulting from Executive Session
On a motion by Emad Siddiqi, seconded by Kristina Holcomb, the Board unanimously approved the
motion to authorize the AEDC Executive Director to negotiate and execute an incentive agreement on
behalf of the AEDC with Pushpay USA, Inc. as presented.
On a motion by Tim Litinas, seconded by Emad Siddiqi,the Board unanimously approved the motion
to authorize the AEDC Executive Director to negotiate and execute an incentive agreement on behalf
of the AEDC with OmniLife USA, Inc. to relocate to Allen.
On a motion by Tim Litinas, seconded by Kristina Holcomb, the Board unanimously approved the
motion to authorize the AEDC Executive Director to negotiate and execute an incentive agreement on
behalf of the AEDC with Straykite Studios to recruit their corporate headquarters to Allen.
On a motion by Emad Siddiqi, seconded by Tim Litinas,the Board unanimously approved the motion
to authorize the AEDC Executive Director to negotiate and execute a purchase and sale agreement
with Postlake Capital or a related entity to sell 22.4 acres of land at Stacy Road and SH 121.
7. Determine Next Regular Meeting Date
The next AEDC Board meeting was scheduled for Wednesday, October 19, 2022 at 6:00 p.m.
AEDC Meeting Minutes
September 21,2022-Page 3
8. Discussion of Future Agenda Items
The Board would like an update on potential opportunities to invest AEDC funds to support ongoing
and future economic development strategies.
9. Adjournment
On a motion by Kristina Holcomb, seconded by Tim Litinas,the meeting was adjourned at 9:29 p.m.
These Minutes approved this 19th day of October 2022.
Michael Schaeffer,President Emad Siddiqi, Secretary/Treasurer