2008-07-07 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 7, 2008
AT 4:30 P.M., 1ST 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 4:31 p.m. with the following present:
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Chairman
George Sanders
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 Mayor Tom Reid
City of Pearland Bill Eisen
STAFF MEMBERS
Fred Welch
Gregg Albritton
Ramon Lozano
Minutes of a Regular Meeting
July 7, 2008
Page 2
II. Approval of Minutes: Board Member Gary Idoux made the motion, seconded by Vice Chairman
Ed Thompson to approve the minutes of the Public Hearing and Regular Meeting of June 23, 2008.
Motion Passed: 5 - 0
III. Board Member Reports: None
IV. Executive Director's Report: Executive Director gave a brief project update.
V. Public Comments: None
VI. New Business
A. Presentations: Presentations were given by AngelouEconomics and TIP Strategies for the
strategic plan
Board Members Katheleen Hartin and David Stedman arrived at the meeting.
B. Budget Amendment: Board Member David Stedman made the motion, seconded by Board
Member Katheleen Hartin to amend the PEDC FY 2008 Budget as proposed.
Motion Passed: 7 - 0
C. Remove Item from Table: Board Member David Stedman made the motion, seconded by
Secretary Lucy Stevener to remove item from table - PEDC FY 2009 proposed budget.
Motion Passed: 7 - 0
D. PEDC FY 2008 Budget: Secretary Lucy Stevener made the motion, seconded by Board Member
Virgil Gant to approve the PEDC FY 2009 Budget.
Motion Passed: 7 - 0
E. Contract for Strategic Plan: Board Member Gary Idoux made the motion, seconded by Board
Member Katheleen Hartin to award the contract to complete a strategic plan for the PEDC to
AngelouEconomics. Contract not to exceed $120,000.00.
Motion Passed: 7 - 0
F. Industrial Revenue Bonds: Board Member David Stedman made the motion, seconded by Board
Member Katheleen Harlin to approve the Regulations to receive and approve applications
for participation in the issuance of Industrial Revenue Bonds (IRB's).
Motion Passed: 6 - 1
G. Inducement Resolution: Board Member Gary Idoux made the motion, seconded by Board
Member Katheleen Hartin to approve an Inducement Resolution to allow PEDC to
issue up to $4,500,000.00 in Industrial Revenue Bonds for Prospect #0718.
Motion Passed: 6 - 1
Minutes of a Regular Meeting
July 7, 2008
Page 3
VII. Adjournment: Secretary Lucy Stevener made the motion, seconded by Board Member Katheleen
Hartin to adjourn the meeting.
Motion Passed: 7 — 0
Time: 7:45 p.m.
Minut s approved as submitted
�(�a5 I , A.D., 2008.
and/or corrected this � j d day of
I Ctna— Zn . &wdy
G orge Sandars, Chairman