HomeMy WebLinkAboutMin - Economic Development Corporation - 2023 - 06/21 - Regular ALLEN ECONOMIC DEVELOPMENT CORPORATION
BOARD OF DIRECTORS REGULAR MEETING
WEDNESDAY,JUNE 21,2023
Board Staff Guests
Michael Schaeffer Daniel Bowman Ben Trahan
Daren Meis David Ellis Dave Cornette
Kristina Holcomb Eileen Gonzales Sergio Prieto
Emad Siddiqi Jan Jungmann Leigh Salas
Brent Berg Pete Smith
Call to Order and Announce a Quorum Present
With members Michael Schaeffer,Kristina Holcomb,Daren Meis,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,June 21,2023 at the
Allen Economic Development Corporation office.
1. Approval of Minutes of the Regular AEDC Board Meeting on May 17,2023
On a motion by Kristina Holcomb, seconded by Emad Siddiqi,the Board unanimously approved the
minutes of the May 17,2023 Regular AEDC Board Meeting.
2. Approval of Minutes of the Special Called AEDC Board Meeting on June 10, 2023
On a motion by Emad Siddiqi, seconded by Kristina Holcomb,the Board unanimously approved the
minutes of the June 10, 2023 Special Called AEDC Board Meeting.
3. Review of AEDC Sales Tax Reports
The AEDC Director Daniel Bowman presented the AEDC Sales Tax Reports and answered questions
regarding the reports.
4. Recap of AEDC Goals Formulated During the 2023 AEDC Workshop
AEDC Director Daniel Bowman presented a review of the goals from the 2023 AEDC Workshop and
received Board input.
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AFDC Meeting Minutes
June 21, 2023-Page 2
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 the Purchase of Real Property Located on SH 121
b. Consider a Small Business Incentive to Support the Expansion of Project Montezuma
The Board convened into closed session at 6:33 p.m.
Reconvene into Open Session
The Board reconvened into open session at 7:33 p.m.
6. Actions Resulting from Executive Session
On a motion by Kristina Holcomb, seconded by Brent Berg,the Board unanimously approved a
motion to authorize the AEDC Executive Director to negotiate and execute the necessary documents
to purchase a 4.96-acre tract on the frontage of SH 121, east of Custer Road in Allen, Texas from
Trammell Crow Affiliate High Street DFW Development Inc.,consistent with the Letter of Intent
between the parties and such other documents and instruments, including any amendments deemed
necessary by the AEDC CEO after consultation with general counsel.
On a motion by Daren Meis, seconded by Kristina Holcomb,the Board unanimously approved a
motion to authorize the AEDC Executive Director to negotiate and execute a Small Business Grant
Program agreement with Mayan Technologies.
7. Approval of AEDC Budget for FY 2023-2024 and Mid-Year Revisions to the AEDC Budget for
FY 2022-2023
The AEDC Executive Director Daniel Bowman presented the AEDC Budget for FY 2023-2024 and
Mid-Year Revisions to the AEDC Budget for FY 2022-2023.
On a motion by Brent Berg, seconded by Kristina Holcomb,the Board unanimously approved the
AEDC Budget for FY 2023-2024 and Mid-Year Revisions to the AEDC Budget for FY 2022-2023 as
presented.
8. Determine Next Regular Meeting Date
The next AEDC Board meeting was scheduled for Wednesday,July 19,2023 at 6:00 p.m.
9. Discussion of Future Agenda Items
The Board requested an update on the Allen Office and Industrial Vacancy and Absorption Reports.
AEDC Meeting Minutes
June 21, 2023-Page 3
10. Convene into Closed Executive Session: Pursuant to Texas Government Code, Section 551.074 for
Personnel Matters: Discussion of the Duties, Responsibilities, Performance, Evaluation and
Employment of the Executive Director.
The Board convened into closed session at 7:50 p.m.
Reconvene into Open Session
The Board reconvened into open session at 8:43 p.m.
11. Actions Resulting from Executive Session
On a motion by Daren Meis, seconded by Brent Berg,the Board moved to increase the Base Salary of
the AEDC Executive Director to$251,022.00 effective July 1, 2023 and to authorize the Board
President to negotiate and execute an amendment to his employment agreement.
12. Adjournment
On a motion by Daren Meis,seconded by Brent Berg,the meeting was adjourned at 8:45 p.m.
[I] These Minutes approved this 19th day of July 2023.
Michael Schaeffer,President Emad Siddiqi, Secretary/Treasurer