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HomeMy WebLinkAboutMin - Community Development Corporation - 2016 - 06/20 - RegularBoard of Directors: George Chrisman, President Chris Schuhneister, Vice -President Ron Alexander, Secretary Tommy Baril Ross Obermeyer Stacy Gonzales (Absent) Michael Freiberger city Stag: Peter H. Vargas, City Manager Eric Cannon, Chief Finance Officer, Finance Department Brian Bristow, Assistant Director, Parks and Recreation Department Rebecca Vice, Assistant to the City Manager Guest Speakers: David Gordon, Managing Director, Estrada Hincjosa ' Kristen Savant, Partner, Norton Rose Fulbright 1) Call to Order and Announce a Quorum is Present With a quotum of the Community Development Corporation Board present, President Chrisman called the Meeting to order at 7:01 p.m. on Monday, June 20, 2016, in the City Council Chambers. 2) Approve Minutes of the May 16, 2016, Meeting Motion: Upon a motion by Board Member Baril and a second by Board Member Alexander, the Board voted six (6) for and none (0) opposed to approve the minutes from the May 16, 2016, meeting. The motion carred. 3) Consider Assignment of Economic Development Incentive Agreement with Allen Premium Outlets, L.P. now to Allen Premium Outlets Expansion, LLC. Motion: Upon a motion by Board Member Alexander and a second by Board Member Obenneyer, the Board voted six (6) for and none (0) opposed to approve the assignment of the Economic Development Incentive Agreement as it relates to the Allen Premium Outlet Mall Expansion. The motion carried. 1 ALLEN COMMUNITY DEVELOPMENT CORPORATION BOARD MEETING ' MINUTES JUNE 20, 2016 Board of Directors: George Chrisman, President Chris Schuhneister, Vice -President Ron Alexander, Secretary Tommy Baril Ross Obermeyer Stacy Gonzales (Absent) Michael Freiberger city Stag: Peter H. Vargas, City Manager Eric Cannon, Chief Finance Officer, Finance Department Brian Bristow, Assistant Director, Parks and Recreation Department Rebecca Vice, Assistant to the City Manager Guest Speakers: David Gordon, Managing Director, Estrada Hincjosa ' Kristen Savant, Partner, Norton Rose Fulbright 1) Call to Order and Announce a Quorum is Present With a quotum of the Community Development Corporation Board present, President Chrisman called the Meeting to order at 7:01 p.m. on Monday, June 20, 2016, in the City Council Chambers. 2) Approve Minutes of the May 16, 2016, Meeting Motion: Upon a motion by Board Member Baril and a second by Board Member Alexander, the Board voted six (6) for and none (0) opposed to approve the minutes from the May 16, 2016, meeting. The motion carred. 3) Consider Assignment of Economic Development Incentive Agreement with Allen Premium Outlets, L.P. now to Allen Premium Outlets Expansion, LLC. Motion: Upon a motion by Board Member Alexander and a second by Board Member Obenneyer, the Board voted six (6) for and none (0) opposed to approve the assignment of the Economic Development Incentive Agreement as it relates to the Allen Premium Outlet Mall Expansion. The motion carried. 1 Community Development Corporation Page 2 Board Meeting June 20, 2016 ' 4) Consider Issuance and Sale of "Allen Community Development Corporation Sales Tax Revenue Refunding Bonds, Taxable Series 2016", and Adopt a Resolution Authorizing the Issuance of Such Bonds, Establishing Parameters for the Sale and Issuance of Such Bonds and Delegating Certain Matters to Authorized Officers of the Allen Community Development Corporation. Motion: Upon a motion by Board Member Freiberger and a second by Board Member Obermeyer, the Board voted six (6) for and none (0) opposed to adopt a resolution authorizing the issuance of "Allen Community Development Corporation Sales Tax Revenue Refunding Bonds, Taxable Series 2016," establishing parameters for the sale and issuance of such bonds and delegating certain matters to authorized officers of the Allen Community Development Corporation. The motion tamed. 5) Proposed CDC Projects List for FY2017 Proposed Project Estimated Cost Classification Special Services Equipment $203,500 Operating Allen Station Park - Softball Scoreboard Upgrade $105,400 Operating Bolin Park— Baseball Field Upgrade $16,000 Operating Ford Park — Field Lighting Re-lamping $22,000 Operating Allen Event Center — Production Upgrade $337,144 Operating Dayspring Park—Decking $13,000 1 Operating Trail Construction and Repair $800,000 Operating/CIP Allen USA Celebration $90,000 Operating Allen Senior Recreation Center — Trail, Bridge and Amenities $370,000 Operating/CIP Don Rodenbaugh Natatorium— Leisure Pool Renovation $188,000 Operating Allen Event Center— South Garage Storage $130,000 Operating Demand Response/Paratransit Transportation $150,000 Operating Dog Park Development $300,000 CIP Green Park — Playground Replacement $200,000 Operating Heritage Village — Pavilion $150,000 CIP Train Depot — Locomotive $150,000 CIP Joe Farmer Recreation Center — Renovation(Re-Appropriation) $74,600 Operating Motion: Upon a motion by Board Member Bard and a second by Board Member ' Freiberger, the Board voted six (6) for and none (0) opposed to table the Dog Park Project request. The motion carred. F Community Development Corporation Board Meeting June 20, 2016 Page 3 Motion: Upon a motion by Board Member Bard and a second by Board Member Freiberger, the Board voted six (6) for and none (0) opposed to approve the remaining Proposed CDC Project List for FY2017 (less the Dog Park Project.) The motion carred. 6) Approve Adoption of Proposed FY 2016-2017 Budget Motion: Upon a motion by Board Member Schulmeister and a second by Board Member Alexander, the Board voted six (6) for and none (0) opposed to approve the Expenditure Budget of $2,999,644 for Fiscal Year 2017. The motion carried. 7) Other Business a) Sales Tax Analysis b) Discussion of Project Status Report c) Discussion of Project Map d) Motion to Cancel July Meeting Motion: Upon a motion by Board Member Alexander and a second by Board Member Freiberger, the Board voted six (6) for and none (0) opposed to cancel the July 18 meeting. The motion carried. e) Items of Interest [Board announcements regarding local civic and charitable events, meetings, fundraisers, and mvards.J • Community Calendar • Next Meeting —August 15, 2016, 7:00 p.m. • Allen USA Celebration— Jane 25,2016,4:00 p.m. 8) Adjourn Motion: Upon a motion by Board Member Bard and a second by Board Member Alexander, the Board voted six (6) for and none (0) opposed to adjourn the meeting at 8:35 p.m. The motion carried. These minutes approved on the 15" day of August, 2016. // A�I_ �'"O_�' eorg Chrisman, PRESIDENT Ron Alexander,SECRETARY