2006-10-23 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, OCTOBER 23, 2006, AT 5:00 P.M., 2ND FLOOR CONFERENCE ROOM, CITY
HALL, 3519 LIBERTY DRIVE, PEARLAND, TEXAS.
I. Call to Order
The meeting was called to order at 5:05 p.m. with the following present:
BOARD MEMBERS
Board member
Board member
Board member
Board member
Board member
Virgil Gant
Katheleen Hartin
George Sandars
Lucy Stevener
Ed Thompson
Not in attendance: Due to a conflict in schedule, Chairman Randy Ferguson and Board
Member Gary Idoux were unable to attend the meeting.
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
Fred Welch
Eric Gage
Gregg Albritton
Minutes of a Regular Meeting
October 23, 2006
Page 2
II. Approval of Minutes: Board Member George Sandars made the motion, seconded by
Board Member Virgil Gant to approve the minutes of the Regular Meeting of September
25, 2006.
Motion Passed: 5 - 0
III. Board Member Reports: Board Member George Sandars attended the Poag & McEwen
grand opening event in Philadelphia. Board Member Ed Thompson attended the joint
workshop with Pearland ISD.
IV. Monthly Financial Report
A. Reviewed and discussed Pearland Economic Development Corporation Financial
Report for the period ending September 30, 2006.
V. Executive Director's Report
Government relations trip to Washington
Manufacturing prospects
Marketing campaign with Duke Realty
VI. Public Comments: Carol Artz, President of the Pearland Area Chamber of Commerce
presented a quarterly report to the board. Report was submitted to file.
EXECUTIVE SESSION UNDER TEXAS GOVERNMENT CODE
The meeting was adjourned to enter into Executive Session at 5:29 p.m.
1. SECTION 551.087 — DELIBERATIONS REGARDING ECONOMIC
DEVELOPMENT INCENTIVES — Prospect #0612
2. SECTION 551.087 — DELIBERATIONS REGARDING ECONOMIC
DEVELOPMENT INCENTIVES — Prospect #0613
The Board reconvened into Open Session at 6:01 p.m.
VII. New Business
A. Economic Development Incentives — Prospect #0612: Board Member Virgil Gant
made the motion, seconded by Board Member George Sandars to approve and
economic development incentive grant in the amount of $135,000.00 to prospect
#0612. Following will be the layout of the grant: A cash incentive in the amount of
$50,000.00 will be distributed after receipt of a Certificate of Occupancy; after a
twelve-month period, and additional $35,000.00 will be distributed when proof of 30
full-time employees is shown to the Corporation; at the end of twenty-four and thirty-
six month respectively, an additional $25,000.00 will be distributed.
Motion Passed: 5 - 0
Minutes of a Regular Meeting
October 23, 2006
Page 3
B. Economic Development Incentives — Prospect #0613: Board Member Virgil Gant
made the motion, seconded by Board Member Katheleen Hartin to approve and
economic development incentive grant in the amount of $135,000.00 to prospect
#0612. Following will be the layout of the grant: A cash incentive in the amount of
$50,000.00 will be distributed after receipt of a Certificate of Occupancy; after a
twelve-month period, and additional $35,000.00 will be distributed when proof of 30
full-time employees is shown to the Corporation; at the end of twenty-four and thirty-
six month respectively, an additional $25,000.00 will be distributed.
Motion Passed: 5 — 0
C. Election of Officers for the Pearland Economic Development Corporation:
Board Member George Sandars made the motion, seconded by Board Member
Katheleen Hartin to elect Randy Ferguson as Chairman.
Board Member Lucy Stevener made the motion, seconded by Board Member
Katheleen Hartin to elect George Sandars as Vice Chairman.
Board Member Virgil Gant made the motion, seconded by Board Member Katheleen
Hartin to elect Lucy Stevener as Secretary.
Motion Passed: 5 — 0
VIII. Adjournment: Board Member George Sandars made the motion, seconded by Board
Member Katheleen Hartin to adjourn the meeting.
Motion Passed: 5 — 0
Time: 6:09 p.m.
Minutes approved as submitted and/or corrected this 1 '1'Lk- day of
A.D., 2006.
ndy Fe use ,Chairman
ATTEST
*-J1zW_e'419_
t,Wy Stevener, Secretary