HomeMy WebLinkAboutMin - Economic Development Corporation - 2022 - 10/19 - Regular ALLEN ECONOMIC DEVELOPMENT CORPORATION
BOARD OF DIRECTORS REGULAR MEETING
WEDNESDAY,OCTOBER 19,2022
Board Staff Guests
Michael Schaeffer Daniel Bowman Dave Cornette
Carl Clemencich Nicole Bywater Dave Shafer
Kristina Holcomb David Ellis Mike McGuire
Emad Siddiqi Eileen Gonzales Roy Foster
Brent Berg Jan Jungmann Dan Betz
Christian Smith Jeff Madsen
Pete Smith Jeff Rigsby
Pete Phillis Cesar Garza
Reece MacDonald
Tom Brennan
Matt Middendorf
Call to Order and Announce a Quorum Present
With members Michael Schaeffer, Kristina Holcomb, Carl Clemencich,Emad Siddiqi and Brent Berg
in attendance,the Regular Meeting of the Allen Economic Development Corporation(AEDC) Board of
Directors was called to order by President Schaeffer at 6:01 p.m. on Wednesday, October 19, 2022 at
the Allen Economic Development Corporation office.
1. Approval of Minutes of the Regular AEDC Board Meeting on September 21, 2022
On a motion by Kristiana Holcomb,seconded by Emad Siddiqi,the Board unanimously approved the
minutes of the September 21, 2022 Regular AEDC Board Meeting.
2. Approval of AEDC Quarterly Financial Reports
City of Allen CFO Pete Phillis presented the AEDC Quarterly Financial Reports and answered
questions regarding the reports.
On a motion by Emad Siddiqi, seconded by Brent Berg,the Board unanimously approved the
Quarterly Financial Reports as presented.
3. Election of Officers of the AEDC Board of Directors
On a motion by Kristina Holcomb, seconded by Carl Clemencich,the Board unanimously approved
the election of AEDC Board Officers as follows: Michael Schaefer, President; Kristina Holcomb,Vice
President; and Emad Siddiqi, Secretary/Treasurer.
AEDC Meeting Minutes
October 19, 2022-Page 2
4. Presentation of Fiscal Year End Review of the AEDC Marketing Program
AEDC Marketing Director Eileen Gonzales presented the Fiscal Year End Review of the AEDC
Marketing Program.
5. 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 and Pursuant to Texas Government Code.,
Section 551.072 Deliberation Regarding Real Property:
a. Consider Incentives to Support the Expansion of a Local Business
b. Consider Incentives to Support the Recruitment of Project Flare
c. Consider Incentives to Support the Recruitment of Project Lightning
d. Consider Hiring a Consultant to Support the Recruitment of Project Challenger
e. Discussion of Potential AEDC Land Investments to Support City Economic Development
Strategies
f. Update and Input on Mixed-Use Projects on SH 121 in Allen
The Board convened into closed session at 6:42 p.m: A break was taken from 8:15 p.m. to 8:20 p.m.
Reconvene into Open Session
—' The Board reconvened into open session at 9:37 p.m.
6. Actions Resulting from Executive Session
On a motion by Kristina Holcomb, seconded by Emad Siddiqi,the Board unanimously approved the
motion to authorize the AEDC Executive Director to negotiate and execute an agreement with a
consultant to pursue qualifying the City of Allen to participate in a hotel/convention center incentive
program through the State of Texas.
7. Determine Next Regular Meeting Date
The next AEDC Board meeting was scheduled for Wednesday,November 16, 2022 at 6:00 p.m.
8. Discussion of Future Agenda Items
None.
9. Adjournment
On a motion by Kristina Holcomb, seconded by Brent Berg,the meeting was adjourned at 9:40 p.m.
AFDC Meeting Minutes
October 19, 2022-Page 3
These Minutes approved this 16th day of November 2022.
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Michael Schaeffer, President Emad Siddiqi, Secretary/Treasurer
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