HomeMy WebLinkAboutMin - Economic Development Corporation - 2023 - 04/19 ALLEN ECONOMIC DEVELOPMENT CORPORATION
BOARD OF DIRECTORS REGULAR MEETING
WEDNESDAY,APRIL 19,2023
Board Staff Guests
Michael Schaeffer Daniel Bowman Ben Trahan
Carl Clemencich Nicole Bywater Stephen Holley
Kristina Holcomb David Ellis Kevin Vargason
Emad Siddiqi -absent Eileen Gonzales Yung Chung Kao
Brent Berg-absent Jan Jungmann George Wang
Christian Smith Pramod Variyam
Pete Smith Stephen Cracknell
Pete Phillis Stephanie Cracknell
Joe Chavarria
Beth LaHaie
Corey Grant
Call to Order and Announce a Quorum Present
With members Michael Schaeffer, Kristina Holcomb,and Carl Clemencich in attendance,the Regular
Meeting of the Allen Economic Development Corporation(AEDC)Board of Directors was called to
order by President Schaeffer at 6:00 p.m. on Wednesday, April 19,2023 at the Allen Economic
Development Corporation office.
1. Approval of Minutes of the Regular AEDC Board Meeting on March 15,2023
On a motion by Kristina Holcomb,seconded by Carl Clemencich, the Board unanimously approved
the minutes of the March 15, 2023 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 Kristina Holcomb, seconded by Carl Clemencich,the Board unanimously approved the
Quarterly Financial Reports as presented.
3. Convene into Closed Executive Session: Pursuant to Texas Government Code, Section 551.087k
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 Items Related to the Escrow Agreement with SW Land, LLC
b. Consider Incentives for the Expansion of a Local Company
c. Consider Incentives for the Recruitment of Project Quality
d. Consider Incentives for the Recruitment of Project Professional
AEDC Meeting Minutes
April 19, 2023-Page 2
e. Consider a Small Business Grant Incentive to Support the Expansion of Project Med-Tech
f. Consider a Small Business Grant Incentive to Support the Expansion of Project Cyber
The Board convened into closed session at 6:08 p.m.
Reconvene into Open Session
The Board took a break from 7:47 to 7:55 p.m. and reconvened into open session at 9:12 p.m.
4. Actions Resulting from Executive Session
On a motion by Kristina Holcomb, seconded by Carl Clemencich,the Board unanimously approved a
motion to authorize the AEDC Executive Director to negotiate and execute an agreement on behalf of
AEDC with Intelligent Epitaxy Technology Inc.
On a motion by Kristina Holcomb, seconded by Carl Clemencich,the Board unanimously approved a
motion to authorize the AEDC Executive Director to negotiate and execute an agreement on behalf of
AEDC with Anora LLC.
On a motion by Kristina Holcomb, seconded by Carl Clemencich,the Board unanimously approved a
motion to authorize the AEDC Executive Director to negotiate and execute an agreement on behalf of
• AEDC with Johnson, Mimiran &Thompson(JMT).
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On a motion by Kristina Holcomb,seconded by Carl Clemencich, the Board unanimously approved a
motion to authorize the AEDC Executive Director to negotiate and execute a Small Business Grant
Program agreement with US Medical IT/USM Technology.
5. Update Report on Company Achievements Under AEDC Compliance Program.
EDC Specialist Nicole Bywater presented a report on company-achievements under the AEDC
Compliance Program and answered questions regarding the report.
6. Review of Allen Office and Industrial Vacancy and Absorption Reports
Staff presented the Allen Office and Industrial Vacancy and Absorption Reports and answered
questions regarding the reports.
7. Discuss the Ideal Qualities, Experience and Knowledge of an AEDC Board Member
AEDC Board President Michael Schaeffer led the discussion and received feedback from other Board
members.
AEDC Meeting Minutes
April 19, 2023-Page 3
8. Determine Next Regular Meeting Date
The next AEDC Board meeting was scheduled for Wednesday, May 17,2023 at 6:00 p.m.
9. Discussion of Future Agenda Items
None.
10. Adjournment
On a motion by Kristina Holcomb,seconded by Carl Clemencich,the meeting was adjourned at
9:40 p.m.
These Minutes approved this 17th day of May 2023.
Michael Schaeffer, President Emad Siddigi, Secretary/Treasurer
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