2006-07-10 PEARLAND ECONOMIC DEVELOPMENT CORPORATION REGULAR MEETING MINUTESMINUTES OF A REGULAR MEETING OF THE PEARLAND ECONOMIC DEVELOPMENT
CORPORATION ("PEDC") BOARD OF DIRECTORS OF THE CITY OF PEARLAND, TEXAS, HELD
MONDAY, JULY 10, 2006, AT 5:30 P.M., 1ST FLOOR CONFERENCE ROOM, CITY HALL, 3519
LIBERTY DRIVE, PEARLAND, TEXAS.
Call to Order
The meeting was called to order at 5:30 p.m. with the following present:
BOARD MEMBERS
Chairman Randy Ferguson
Board member Gary Idoux
Board member George Sandars
Board member Lucy Stevener
Board member Ed Thompson
EX -OFFICIO BOARD MEMBERS
Pearland Area
Chamber of Commerce Carol Artz
Not in attendance: Due to a conflict in schedule, Ex -Officio Board Members Bill Eisen and Mayor
Tom Reid were unable to attend the meeting.
STAFF MEMBERS
Executive Director Fred Welch
Office Coordinator Janice Vega
Minutes of a Regular Meeting
July 10, 2006
Page 2
Approval of Minutes: Board member George Sandars made the motion, seconded by Board
member Lucy Stevener to approve the minutes of the Public Hearing and Regular Meeting of May
22, 2006.
Motion Passed: 5 - 0
III. Board Member Reports: Board members Lucy Stevener and George Sandars attended the Kirby
Road ribbon cutting and the Poag & McEwen groundbreaking. Board member Gary Idoux also
attended the Kirby Road ribbon cutting.
IV. Monthly Financial Report: Reviewed and discussed Pearland Economic Development
Corporation Financial Report for the period ending June, 2006.
V. Executive Director's Report: Executive Director Fred Welch reported that Texas Honing may be
getting ready to start an expansion of their facility. Aggreko is progressing on their training facility.
VI. Public Comments: None
VII. New Business
A. FY2006 Budget Amendment: Board member Ed Thompson made the motion, seconded by
Board member George Sandars to amend the FY2006 budget for projections as presented by
Director of Finance Claire Manthei.
Motion Passed: 5 - 0
B. FY2007 PEDC Budget: Board member George Sandars made the motion, seconded by
Board Member Lucy Stevener to approved the FY2007 budget.
Motion Passed: 5 - 0
C. Quarterly Report: President Carol Artz of the Pearland Area Chamber of Commerce gave a
report and one was submitted to file.
EXECUTIVE SESSION UNDER TEXAS GOVERNMENT CODE
The meeting was adjourned to enter into Executive Session at 6:41 p.m.
1. SECTION 551.087 — DELIBERATIONS REGARDING ECONOMIC
DEVELOPMENT INCENTIVES — Prospect #0606.
2. SECTION 551.087 — DELIBERATIONS REGARDING ECONOMIC
DEVELOPMENT INCENTIVES — Prospect #0607.
3. SECTION 551.087 — DELIBERATIONS REGARDING ECONOMIC
DEVELOPMENT INCENTIVES — Prospect #0608.
The Board reconvened into Open Session at 7:03p.m.
NEW BUSINESS (Continued)
D. Economic Development Incentives — Prospect #0606: Board member George Sandars
made the motion, seconded by Board member Lucy Stevener to grant economic development
incentives to Prospect #0606 in the amount of $150,000.00 for the cost of a rail switch.
Minutes of a Regular Meeting
July 10, 2006
Page 3
E. Economic Development Incentives — Prospect #0607: Board member Ed Thompson
made the motion, seconded by Board member Gary Idoux to grant economic development
incentives to Prospect #0607 for infrastructure for an amount not to exceed $55,000.00.
F. Economic Development Incentives — Prospect #0608: Board member George Sandars
made the motion, seconded by Board member Lucy Stevener to grant economic development
incentives to Prospect #0608 for infrastructure for an amount not to exceed $225,000.00, and
will recommend that City Council consider granting the company a tax abatement.
VII. Adjournment: Board member George Sandars made the motion, seconded by Board member Ed
Thompson to adjourn the meeting.
Motion Passed: 5 — 0
Time: 7:08 p.m.
Minutes appoved as submitted and/or corrected this day of
1�y , A.D., 2006.
Rpddy Ferguson, C man
ATTEST: A
Janic Vega, Office Co dinator