2010-03-22 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, MARCH 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 5:02 p.m. with the following present:
BOARD MEMBERS
President Ed Thompson
Secretary Lucy Stevener
Board Member Kurt Evenson
Board Member Gary Idoux
Board Member Mike O'Day
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
MAY 0 7 2010
CITY SECRETARY
OFFICE
Minutes of a Regular Meeting
March 22, 2010
Page 2
Approval of Minutes: Board Member Kurt Evenson made the motion, seconded by Secretary Lucy
Stevener to approve the minutes of the Regular Meeting of February 22, 2010.
Motion Passed: 5 - 0
III. Public Comments: None
IV. Financial Report
A. Monthly Financial Report ending January 31, 2010: Director of Finance Claire Bogard gave a
summary of the report. Report submitted to file.
B. PEDC Cash Flow: Director of Finance Claire Bogard gave an update on the report. Report
submitted to file.
C. Five Year Forecast: Director of Finance Claire Bogard gave a summary of the report.
Report submitted to file.
Vice Chairman Charles Gooden arrived at the meeting at 5:07 p.m., Board Member Rushi Patel arrived
at 5:20 p.m.
V. New Business
A. Excused Absence: Vice Chairman Charles Gooden made the motion, seconded by
Secretary Lucy Stevener to excuse the absence of Board Member Mike O'Day from the
Regular Meeting of February 22, 2010.
Motion Passed: 6 — 0
Abstained: 1 (Mike O'Day)
B. CSI Facility Financing: Ryan O'Hara with RBC Capital Market addressed the board. He
informed the board that Frost Bank pulled out of the bid process. Board Member Kurt
Evenson made the motion, seconded by Vice Chairman Charles Gooden to move forward
with the bond sale — $7,550,503, Bank of America, Private Placement, Floating Rate
Taxable, five year or less call period.
Motion Passed: 7 - 0
C. Northern Brazoria County Education Alliance (NBCEA) Agreement: Vice Chairman Charles
Gooden made the motion, seconded by Board Member Gary Idoux to approve the
agreement, contingent upon approval from City Council. PEDC Executive Director Matt
Buchanan will work out the changes discussed in the Scope of Services with NBCEA
Executive Director Terrie Morgan.
Motion Passed: 6- 0
Board Member Rushi Patel was absent during the vote.
D. Workforce Census and Analysis Study: Board Member Rushi Patel made the motion,
seconded by Board Member Kurt Evenson to authorize the Executive Director to enter into
agreements, on behalf of PEDC, for standard professional services with TIP Strategies not to
exceed $65,000, and a subcontract with Alvin Community College to receive $50,000 in grant
funds for the analysis.
Motion Passed: 7 - 0
E. Marketing Strategy: Board Member Gary Idoux made the motion, seconded by Secretary
Lucy Stevener to authorize the Executive Director to enter into an agreement with Atlas
Advertising on behalf of the PEDC for the development of a detailed marketing plan,
branding strategy, and the creation of a new logo for PEDC for an amount not to exceed
$44,250.
Motion Passed: 7 — 0
Minutes of a Regular Meeting
March 22, 2010
Page 3
F. Annual Retreat Agenda: The Board reviewed the tentative agenda for the retreat.
G. Monthly Activity Report: Executive Director discussed various projects involving
infrastructure, marketing, workforce and new business activity.
VI. Other Business
Executive Session Under Texas Government Code
1. Section 551.087 —
Deliberations
Regarding
Economic
Development
Negotiations —
Update on Business Attraction/Retention Projects
2. Section 551.087 —
Deliberations
Regarding
Economic
Development
Negotiations —
Prospect #1002
3. Section 551.087 —
Deliberations
Regarding
Economic
Development
Negotiations —
Prospect #0912
4. Section 551.087 —
Deliberations
Regarding
Economic
Development
Negotiations —
Prospect #1001
NEW BUSINESS CONTINUED:
H. Economic Development Negotiations — Business Attraction/Retention Projects: No action
was taken.
I. Economic Development Negotiations —Prospect #1002: No action was taken.
J. Economic Development Negotiations — Prospect #0912: Board Member Kurt Evenson made
the motion, seconded by Secretary Lucy Stevener to award the grant to Prospect #0912 as
follows: Move -In Grant in the amount of $50,000; 1" thru 3rd Year Anniversary Grant in the
amount of $2,500 per in-house full-time job with a gross salary in excess of $40,000 per year.
The grant total incentive not to exceed $87,500.
Motion Passed: 6 —1
Ayes: Thompson, Gooden, Stevener, Evenson, O'Day, Patel
Noes: Idoux
K. Economic Development Negotiations — Prospect #1001: Board Member Mike O'Day made
the motion, seconded by Board Member Gary Idoux to deny the economic development
incentive for Prospect #1001.
Motion Passed: 7 - 0
VII. Adjournment: The meeting was adjourned at 8:38 p.m.
h
Minute approved as submitted and/or corrected this day of
A.D., 2010.
ATTEST:
i Charles Gooden, Jr., Vice Ch ' an
tevener, Secretary