HomeMy WebLinkAboutMin - Economic Development Corporation - 2023 - 05/17 - Regular ALLEN ECONOMIC DEVELOPMENT CORPORATION
BOARD OF DIRECTORS REGULAR MEETING
WEDNESDAY, MAY 17,2023
Board Staff Guests
Michael Schaeffer Daniel Bowman Ben Trahan
Carl Clemencich Nicole Bywater Eric Heidt
Kristina Holcomb David Ellis Phil Shakro
Emad Siddiqi Eileen Gonzales Spencer Mullens
Brent Berg Jan Jungmann
Pete Smith
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 6:00 p.m. on Wednesday, May 17, 2023 at the
Allen Economic Development Corporation office.
1. Approval of Minutes of the Regular AEDC Board Meeting on April 19,2023
On a motion by Kristina Holcomb, seconded by Emad Siddiqi, the Board unanimously approved the
minutes of the April 19, 2023 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. 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 the Purchase of Real Property Located on SH 121
b. Consider Incentives for the Expansion and Retention of Local Company 1
c. Consider Incentives for the Expansion and Retention of Local Company 2
d. Consider Incentives for the Expansion and Retention of Local Company 3
e. Consider Incentives for the Expansion and Retention of Local Company 4
The Board convened into closed session at 6:03 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 9:06 p.m.
4. Actions Resulting from Executive Session
} On a motion by Brent Berg, seconded by Kristina Holcomb, the Board unanimously approved a
motion to authorize the AEDC Executive Director to negotiate and execute an agreement on behalf of
AEDC with Amphenol Fiber Systems Inc.
On a motion by Emad Siddiqi, seconded by Brent Berg, the Board unanimously approved a motion to
authorize the AEDC Executive Director to negotiate and execute an agreement on behalf of AEDC
with Photronics.
On a motion by Carl Clemencich, seconded by Brent Berg,the Board unanimously approved a motion
to authorize the AEDC Executive Director to negotiate and execute an agreement on behalf of AEDC
with Reaction Technology/Littelfuse.
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 amendment to the
existing agreement with Anritsu.
5. Review Preliminary AEDC Budget for FY 2023-2024 and Mid-Year Revisions to the AEDC
Budget for FY 2022-2023
AEDC Executive Director Daniel Bowman presented the preliminary AEDC Budget and received
Board input.
6. Review Agenda Items for the AEDC Board Workshop—June 10, 2023
AEDC Executive Director Daniel Bowman reviewed the proposed AEDC Board Workshop Agenda
and received Board input.
7. Determine Next Regular Meeting Date
The next AEDC Board meeting was scheduled for Wednesday,June 21, 2023 at 6:00 p.m.
8. Discussion of Future Agenda Items
None.
9. Adjournment
On a motion by Kristina Holcomb, seconded by Carl Clemencich, the meeting was adjourned at
9:32 p.m.
These Minutes approved this 21St day of June 2023.
Michael Schaeffer,Schaeffer, President Emad Siddiqi, Secretary/Treasurer
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