2009-08-24 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, AUGUST 24,
2009 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 5:00 p.m. with the following present:
BOARD MEMBERS
President
George Sandars
Vice President
Ed Thompson
Secretary
Lucy Stevener
Board Member
Helen Beckman
Board Member
Gary Idoux
EX -OFFICIO MEMBERS
City of Pearland Mayor Tom Reid
City of Pearland Bill Eisen
STAFF MEMBERS
Fred Welch
Ramon Lozano
Jenny Brannon
Janice Vega
OCT 0 1 2009
Minutes of a Regular Meeting
August 24, 2009
Page 2
II. Approval of Minutes: Vice President Ed Thompson made the motion, seconded by Board Member
Helen Beckman to approve the minutes of the Regular Meeting of June 22, 2009, Special Meeting of
July 8, 2009, Public Hearing and Special Meeting of July 13, 2009.
Motion Passed: 5 - 0
III. Board Member Reports: President George Sandars attended the Dawson High School grand
opening. Vice President Ed Thompson attended The Commerce Center opening, the PEDC
Strategic Plan roll out, and the NBCEA strategic planning meeting. Secretary Lucy Stevener and
Board Member Gary Idoux attended The Commerce Center opening. Board Member Helen
Beckman also attended The Commerce Center opening and the PEDC Strategic Plan roll out.
IV. Financial Report
A. Investment Report — June 2009: Finance Director Claire Bogard gave the report.
B. Monthly Financial Report — June 2009: Finance Director Claire Bogard gave the report.
V. Executive Director's Report: Director Fred Welch reported that Freese and Nichols has signed a
lease with Pearland Town Center for office space.
VI. Public Comments: None
VII. New Business
A. Excuse Absence: Vice President Ed Thompson made the motion, seconded by Secretary Lucy
Stevener to excuse the absence of Chairman George Sandars and Board Member David
Stedman from the Public Hearing and Special Meeting of July 13, 2009.
Motion Passed: 4 — 0
Abstained: 1
B. Pearland Area Chamber of Commerce Report: President Carol Artz gave a quarterly report.
Vice President of Tourism Bryan Roller gave an update from the Convention and Visitors Bureau.
C. Northern Brazoria County Education Alliance Report: Director Terrie Morgan gave a quarterly
report.
D. Policy for Old Town Site Incentives: Director of Old Town Site Redevelopment Kyler Cole gave
an overview of the proposed incentive policy for the Old Town Site area.
E. Marketing Report: Assistant Director Raman Lozano gave an update on marketing events and
programs.
F. PEDC BY2010 Budget: Board Member Helen Beckman made the motion, seconded by Board
member Gary Idoux to amend and re -adopt the PEDC FY2010 Budget.
Motion Passed: 5 — 0
G. Galveston Federal Bench Resolution: Secretary Lucy Stevener made the motion, seconded by
Board Member Helen Beckman to adopt a resolution in support of keeping the Federal Judge
and staff located in Galveston, Texas.
H. Bond Inducement Resolution: Vice President Ed Thompson made the motion, seconded by
Board Member Gary Idoux to approve the Inducement Resolution.
Motion Passed: 5 - 0
Minutes of a Regular Meeting
August 24, 2009
Page 3
I. EDA Infrastructure Grant: No action was taken.
J. Economic Development Incentives — Prospect #0911 — Prospect addressed the Board of
Directors.
VIII. Other Business
Executive Session Under Texas Government Code
The meeting was adjourned to enter into Executive Session at 7:01 p.m.
1. Section 551.087 — Deliberations Regarding Economic Development - Prospect
#0908.
2. Section 551.087 — Deliberations Regarding Economic Development - Magtech.
3. Section 551.087 — Deliberations Regarding Economic Development - Speed Shore.
4. Section 551.087 — Deliberations Regarding Economic Development - Prospect
#0912.
5. Section 551.087 — Deliberations Regarding Economic Development - Prospect
#0911.
6. Section 551.087 — Deliberations Regarding Economic Development - Business
Center Drive Expansion.
7. Section 551.087 — Deliberations Regarding Economic Development - Spectrum
Boulevard West.
The Board reconvened into Open Session at 8:19 p.m.
New Business Continued:
K. Economic Development Incentives — Prospect #0908: No action was taken.
L. Economic Development Incentives — Magtech: Vice President Ed Thompson made the motion,
seconded by Board Member Helen Beckman to approve an infrastructure grant to Magtech for
the construction of a driveway as part of the Magnolia expansion, at a cost not to exceed
$100,000.00. A Development Agreement between Lingo Properties and Magtech will be drafted
by the City Attorney where each will pledge to remain in Pearland, Texas for three years beyond
completion of the improvements and maintain current levels of employment.
Motion Passed: 5 - 0
M. Economic Development Incentives — Speed Shore: Board Member Gary Idoux made the motion,
seconded by Secretary Lucy Stevener to approve a grant to Speed Shore in the amount of
$36,000.00 to cover the cost of impact fees to connect city services to the property.
Motion Passed: 5 - 0
N. Economic Development Incentives — Prospect #0912: Vice President Ed Thompson made the
motion, seconded by Board Member Helen Beckman to award a grant of $50,000.00 and during
the first three years $2,500.00 per full time job with a gross salary in excess of $40,000.00
annually. Total grant not to exceed $87,500.00. Eligible jobs must be for employees who
Minutes of a Regular Meeting
August 24, 2009
Page 4
spend a minimum of twenty hours conducting work at the Shadow Creek Business Center
location. Grant also contingent upon verification of the company's ownership.
Motion Passed: 5 - 0
O. Economic Development Incentives — Prospect #0911: Vice President Ed Thompson made the
motion, seconded by Secretary Lucy Stevener to approve a grant to Prospect #0911 for a sewer
line installation. Amount of grant not to exceed $136,500.00 and provided that the company be
willing to enter into a Development Agreement where $26,500,000.00 of construction
improvements would take place within five years of the installation of the sewer line. If
$26,500,000.00 of construction improvements is not completed, company will reimburse
Pearland Economic Development Corporation for the cost of the grant.
Motion Passed: 5 - 0
P. Infrastructure Grant — Business Center Drive Expansion: Board Member Gary Idoux made the
motion, seconded by Board Member Helen Beckman to approve an infrastructure grant to pay for
fifty percent of the road project on Business Center Drive for up to $4,000,000.00, contingent
upon owner dedicating right-of-way and the land.
Motion Passed: 5 - 0
Q. Infrastructure Grant — Spectrum Boulevard West: No action was taken
IX. Adjournment
Time: 8:30 p.m.
Minutes approved as submitted and/or corrected this _�° I N day of
(L A.D. , 2009.
George Sandars, Chairman
ATTE T:
ucy Stevener, Secretary