2010-02-22 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, FEBRUARY
22, 2010 AT 5:00 P.M., CONFERENCE ROOM, PEDC OFFICE, 2947 BROADWAY, PEARLAND, TEXAS.
I. Call to order
The meeting was called to order at 5:06 p.m. with the following present:
BOARD MEMBERS
President
Ed Thompson
Vice President
Charles Gooden, Jr.
Secretary
Lucy Stevener
Board Member
Kurt Evenson
Board Member
Gary Idoux
Board Member
Rushi Patel
Due to a conflict in schedule,
Board Member Mike O'Day was unable to attend the meeting.
EX -OFFICIO MEMBERS
City of Pearland Bill Eisen
Pearland Chamber of Commerce Carol Artz
STAFF MEMBERS
Matt Buchanan
Ramon Lozano
Kyler Cole
Jenny Brannon
Janice Vega
SCANNED
APR 15 2010
CITY SECRETARY
OFFICE
Minutes of a Regular Meeting
February 22, 2010
Page 2
Approval of Minutes: Vice President Charles Gooden made the motion, seconded by Board Member
Gary Idoux to approve the minutes of the Regular Meeting of January 25, 2009.
Motion Passed: 4 — 0
At the President's request and the Board's concurrence, Item A under New Business was moved up on the
agenda.
Board Members Kurt Evenson and Rushi Patel arrived at the meeting at 5:10 p.m.
V. New Business
A. CSI Facility Financing: Ryan O'Hara with RBC Capital Market addressed the board. He has
contacted twelve different banks to solicit offers for a bank/real estate loan. He received only
one draft bid from Amegy Bank. Frost Bank will submit a bid on Wednesday, February 24
pending internal credit committee approval. The board will wait for this bid to come in and
meet again in the next couple of weeks.
III. Public Comments: None
IV. Financial Report
A. Fiscal Year 2009 Audit: Rick Overgaard, Assistant Director of Finance, gave an overview of
the 2009 Annual Audit. Report submitted to file.
B. Monthly Financial Report ending December 31, 2009: June Ellis, Budget Officer, gave a
summary of the report. Report submitted to file. Claire Bogard, Director of Finance, stated
that she is continuing to work on the cash flow report.
C. Schedule of Business Incentives: Executive Director Matt Buchanan provided a spreadsheet
showing the status of all PEDC business incentives.
V. New Business
At the President's request and the Board's concurrence, Item D was moved up on the agenda.
D. Northern Brazoria County Education Alliance Update: Terrie Morgan, Sheila Reed, Jim
Sudela and Kurt White, Chairman, were present from the NBCEA and addressed the board.
Executive Director Morgan asked for the board's support in a meeting with Houston
Community College. The Board reviewed two letters NBCEA is requesting PEDC to submit.
One letter requests a joint meeting between HCC, Alvin Community College and San Jacinto
College. The other is inviting the Chancellor of HCC to a tour of the Spectrum and a
presentation on Pearland.
B. Old Townsite Monument Sign: Vice President Charles Gooden made the motion, seconded
by Board Member Gary Idoux to approve the allocation of $72,189 to the current OTS
Redevelopment Incentives line item of $124,000, leaving $51,811 for the remainder of FY 09-
10 in the budget line item. Upon City Council approval, approve staff to negotiate terms and
enter into a general contracting agreement with Boyer, Inc.
Motion passed: 6 - 0
Minutes of a Regular Meeting
February 22, 2010
Page 3
C. Old Townsite Walnut Streetscape: Secretary Lucy Stevener made the motion, seconded by
Vice President Charles Gooden to authorize staff to negotiate terms and enter into a
standard professional services contract with Knudson, LP for the Walnut Streetscape Phase
II, not to exceed $14,000.00.
Motion passed: 4 — 2
Ayes: Thompson, Gooden, Stevener, Idoux
Noes: Evenson, Patel
E. Staff Monthly Activity Report: Executive Director Matt Buchanan summarized various
ongoing projects. Report submitted to file.
VI. Other Business
Executive Session Under Texas Government Code
The meeting was adjourned to enter into Executive Session at 8:01 p.m.
1. Section 551.087 — Deliberations Regarding Economic Development Incentives —
Spectrum Drive Extension
2. SECTION 551.087 — Deliberations Regarding Economic Development Incentives —
Hooper Road Utility Project
3. SECTION 551.087 — Deliberations Regarding Economic Development Incentives —
Update on Projects
The Board reconvened into Open Session at 8:58 p.m.
New Business Continued:
F. Economic Development Incentives — Spectrum Drive Extension: Board Member Gary Idoux
made the motion, seconded by Board Member Rushi Patel to authorize staff, upon receiving
approval from City Council, to enter into the proposed reimbursement agreements with
Spectrum 86 and the City of Pearland and with Betz Companies with the necessary changes
and modifications that arise during negotiations.
Motion Passed: 6 - 0
G. Economic Development Incentives — Hooper Road Utility Project: Executive Director Matt
Buchanan will draft a performance agreement with Brenntag. No action was taken by the
board.
H. Economic Development Incentives — Update on Projects: No action was taken.
VII. Adjournment: The meeting was adjourned at 9:01 p.m.
Minutes approved as submitted and/or corrected this c,1�..1Jh day of
V1 AU -R A.D., 2010.
/ f Ed Thompson, President
ATTEST:
1
Luc te, ener, Secretary