2008-09-22 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, SEPTEMBER
22, 2008 AT 5:00 P.M., CONFERENCE ROOM, 2947 BROADWAY STREET, PEARLAND, TEXAS. CITY
COUNCIL MEMBERS MAY ALSO BE ATTENDING.
I. Call to order
The meeting was called to order at 5:04 p.m. with the following present:
BOARD MEMBERS
Chairman George Sandars
Vice Chairman Ed Thompson
Secretary Lucy Stevener
Board Member Virgil Gant
Board Member Gary Idoux
Board Member David Stedman
Not in attendance: Due to a conflict in schedule, Board Member Katheleen Hartin was unable to
attend the meeting.
EX -OFFICIO MEMBERS
City of Pearland
STAFF MEMBERS
Fred Welch
Kyler Cole
Ramon Lozano
Janice Vega
Mayor Tom Reid
Minutes of a Regular Meeting
September 22, 2008
Page 2
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 August 25, 2008.
Motion Passed: 5 - 0
III. Board Member Reports: Chairman George Sandars attended the Steering Committee meeting and
interview by Angelou Economics for the strategic plan.
IV. Monthly Financial Report: Director of Finance Claire Bogard gave a report for the period ending July
31, 2008.
V. Executive Director's Report: Executive Director Fred Welch gave a report on the meetings held by
Angelou Economics for the strategic plan. He also gave a report on the activities resulting in the
aftermath of Hurricane Ike.
Vl. Public Comments: None
VII. Other Business
EXECUTIVE SESSION UNDER TEXAS GOVERNMENT CODE
The meeting was adjourned to enter into Executive Session at 5:42 p.m.
1. SECTION 551.087 — DELIBERATIONS REGARDING ECONOMIC DEVELOPMENT
INCENTIVES — Prospect #0613.
2. SECTION 551.087 — DELIBERATIONS REGARDING ECONOMIC DEVELOPMENT
INCENTIVES — Businesses affected by Hurricane Ike.
(Board Member Virgil Gant arrived at the meeting during the Executive Session)
The Board reconvened into Open Session at 6:24 p.m.
VIII. New Business
A. Economic Development Incentives: Secretary Lucy Stevener made the motion, seconded by
Board Member Virgil Gant to approve an economic development incentive grant for the cost of a
fire loop for Prospect #0613. Grant not to exceed $39,800.00.
Motion Passed: 5 — 0
Abstained: 1
B. Economic Development Incentives: Board Member Virgil Gant made the motion, seconded by
Board Member Gary Idoux to authorize Executive Director Fred Welch to present a proposal to
the City Council for economic development payments to local business that have suffered losses
due to Hurricane Ike. Payments are subject to the business meeting the SBA loan criteria.
Applications must be completed by December 31, 2008 and payments will not exceed $5,000.00
per business. Total expenditure by the Pearland Economic Development Corporation not to
exceed $1,000,000.00.
Motion Passed: 6 - 0
IX. Adjournment: Vice Chairman Ed Thompson made the motion, seconded by Board Member David
Stedman to adjourn the meeting.
Motion Passed: 6 — 0
Time: 6:35 p.m.
Mi tes approved as submitted and/or corrected this I 1� day of
DV E M(St., A.D., 2008.
ATTEST:
-L0Z
G66rge Sandars, Chairman