2008-01-28 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, JANUARY 28, 2008 AT 5:00 P.M., 2ND FLOOR CONFERENCE ROOM, CITY HALL, 3519
LIBERTY DRIVE, PEARLAND, TEXAS. CITY COUNCIL MEMBERS MAY ALSO BE ATTENDING.
I. Call to order
The meeting was called to order at 5:02 p.m. with the following present:
BOARD MEMBERS
Chairman
George Sandars
Vice Chairman
Ed Thompson
Secretary
Lucy Stevener
Board Member
Virgil Gant
Board Member
Katheleen Hartin
Board Member
Gary Idoux
Board Member
David Stedman
EX -OFFICIO MEMBERS
City of Pearland Bill Eisen
City of Pearland Mayor Tom Reid
Chamber of Commerce Carol Artz
STAFF MEMBERS
Fred Welch
Ramon Lozano
Janice Vega
SCANNED
APR 0 3 2008
CITY SECRETARY
OFFICE
Minutes of a Regular Meeting
January 28, 2008
Page 2
II. Approval of Minutes: Vice Chairman Ed Thompson made the motion, seconded by Board Member
Gary Idoux to approve the minutes of the Regular Meeting of December 10, 2007.
Motion Passed: 6 — 0
Board Member David Stedman arrived at the meeting at 5:07 pm.
Ill. Board Member Reports:
Chairman George Sandars — Attended the tour of the workforce facility in New Braunfels, attended a
prospect meeting with PEDC staff.
Vice Chairman Ed Thompson — Attended the Chamber of Commerce annual banquet and a tour at
Pearland High School.
Secretary Lucy Stevener — Attended the Chamber of Commerce banquet.
IV. Monthly Financial Report
A. Reviewed and discussed Pearland Economic Development Corporation Financial Statements for
the period ending November 30, 2007 and December 31, 2007.
B. Reviewed and discussed Pearland Economic Development Corporation Investment Report for
the period ending December 31, 2007.
V. Executive Director's Report: Executive Director Fred Welch gave a report. Copy of report
submitted to file.
VI. Public Comments: None
At the Chairman's request and the Board's concurrence, Items C and E under New Business were
moved up on the agenda.
C. Quarterly Update: A quarterly update from the Pearland Area Chamber of Commerce was
presented by Carol Artz.
E. Proposed Study: Board Member Virgil Gant made the motion, seconded by Secretary Lucy
Stevener to grant approval for the use of H.O.T. Funds for a feasibility study on the proposed
Presidential Park in the Water Lights District.
Motion Passed: 6 - 1
VII. Other Business
EXECUTIVE SESSION UNDER TEXAS GOVERNMENT CODE
The meeting was adjourned to enter into Executive Session at 6:01 p.m.
1. SECTION 551.087 — DELIBERATIONS REGARDING ECONOMIC DEVELOPMENT
INCENTIVES.
The Board reconvened into Open Session at 8:07 p.m.
Minutes of a Regular Meeting
January 28, 2008
Page 3
VIII. NEW BUSINESS
A. Excused Absence: Board Member Gary Idoux made the motion, seconded by Board
Member Katheleen Hartin to excuse the absence of Board Member Virgil Gant from the regular
meeting of December 10, 2007.
Motion Passed: 6 — 0
Abstained: 1
B. Economic Development Incentives: Vice Chairman Ed Thompson made the motion, seconded
by Board Member Virgil Gant to approve an economic development incentive grant in the amount
of $150,000.00 to Prospect #0718, based on a commitment of fifty employees as will be outlined
in a contract agreement. Grant will be paid after receipt of a certificate of occupancy from the
City of Pearland.
D. Northern Brazoria County Education Alliance: Board Member David Stedman made the motion,
seconded by Secretary Lucy Stevener to approve a grant to the Northern Brazoria County
Education Alliance. Immediate $30,000.00 to be paid within sixty days. Payment of $10,000.00
per month beginning April 1, 2008 for one year upon approval by City Council. In addition, a
matching grant on a dollar for dollar basis up to an additional $50,000.00 in operating costs to
encourage community participation, contingent upon the execution of a performance based
contract which will be prepared by March 1, 2008.
F. Marketing Update: Item was tabled until the next regular meeting.
IX. Adjournment: Vice Chairman Ed Thompson made the motion, seconded by Board Member
Katheleen Hartin to adjourn the meeting.
Motion Passed: 7 — 0
Time: 8:13 p.m.
Minutes approved as submitted and/or corrected this 1 S I R day of
E LJ66AA iQ � , A.D., 2008. ^
// Imo/ \ Ge6rge Sandars, Chairman