2010-04-26 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 TO BE
HELD MONDAY, APRIL 26, 2010, 5:00 P.M., CONFERENCE ROOM, PEDC OFFICE, 2947 BROADWAY
STREET,PEARLAND,TEXAS.
I. Call to order
The meeting was called to order at 5:12 p.m. with the following present:
BOARD MEMBERS
Vice President
Charles Gooden, Jr.
Board Member
Kurt Evenson
Board Member
Gary Idoux
Board Member Mike O'Day
Due to a conflict in schedule, President Ed Thompson and Secretary Lucy Stevener were unable to
attend the meeting.
EX -OFFICIO MEMBERS
City of Pearland
City of Pearland
Pearland Chamber of Commerce
STAFF MEMBERS
Matt Buchanan
Ram6n Lozano
Kyler Cole
Jenny Brannon
Janice Vega
Mayor Tom Reid
Bill Eisen
Carol Artz
Minutes of a Regular Meeting
April 26, 2010
Page 2
Approval of Minutes: Board Member Kurt Evenson made the motion, seconded by Board Member
Mike O'Day to approve the minutes of the Regular Meeting of March 22, 2010.
Motion Passed: 4 - 0
III. Public Comments: None
Board Member Rushi Patel arrived at the meeting at 5:14 p.m.
IV. Financial Report
A. Monthly Financial Report ending February 28, 2010: Director of Finance Claire Bogard gave
a summary of the report. Report submitted to file.
B. Quarterly Investment Report — March 2010: Director of Finance Claire Bogard gave a
summary of the report. Report submitted to file.
V. New Business
A. Public Hearing: Opened the Public Hearing at 5:27 p.m. to discuss the Purchase of Land
and Construction of an Approximately 50,000 Square Foot Industrial Manufacturing Facility.
Public Hearing closed at 5:27 p.m.
B. Resolution: Board Member Kurt Evenson made the motion, seconded by Board Member
Gary Idoux to adopt a Resolution Authorizing the Issuance of Pearland Economic
Development Corporation Sales Tax Revenue Bonds, Taxable Series 2010, Authorizing a
Sales Tax Remittance Agreement; and Containing Other Provisions Related Thereto,
amending the presented Notice of Right to Petition as discussed, and to appoint Board
Member Rushi Patel as Assistant Secretary of the Board of Directors.
Motion Passed: 5 — 0
At the Vice President's request and the Board's concurrence, Item E under New Business was moved up on
the agenda.
E. Report: Carol Artz, President of the Pearland Chamber of Commerce gave a quarterly report.
C. Resolution: Board Member Gary Idoux made the motion, seconded by Board Member Kurt
Evenson to adopt a Resolution of Pearland Economic Development Corporation Authorizing
Issuance of Revenue Bonds (Neelila, L.L.C. Project) Series 2010; Loan of Bond Proceeds to
Neelila, L.L.C.; Approving Documents Relating Thereto; Authorizing a Public Hearing
Regarding Bonds; Approving Publication of Notice of Public Hearing and Appointing Hearing
Officers; and Approving Other Matters in Connection Therewith, and to appoint Board
Member Rushi Patel as Assistant Secretary of the Board of Directors.
Motion Passed: 5 — 0
D. LEED Grant Incentive Program: Ed Grossenheider, Parks and Recreation Building
Maintenance Superintendent, gave a presentation to the board. No action was taken.
F. OTS Monument Sign: Board Member Mike O'Day made the motion, seconded by Board
Member Gary Idoux to approve and direct staff to informally bid the project and engage a
general contractor in a guaranteed maximum price contract not to exceed $49,999.00.
Motion Passed: 3 — 2
Ayes: Gooden, Idoux, O'Day
Noes: Evenson, Patel
Minutes of a Regular Meeting
April 26, 2010
Page 3
Due to a scheduling conflict, Board Member Mike O'Day left the meeting at 7:20 p.m.
G. Spectrum Management District Agreement: Board Member Rushi Patel made the motion,
seconded by Board Member Kurt Evenson to approve the President and/or Vice President to
enter into a Financing Reimbursement Agreement for Creation and Operating Advances
incurred by PEDC for the Spectrum Management District.
Motion Passed 4 - 0
H. Governance Committee: Board Member Gary Idoux made the motion, seconded by Rushi
Patel to form a temporary committee to convene regularly in the coming months to review
and make recommendations on the Corporation's articles of incorporation, by-laws and tax
status. The committee will be comprised of Board Members Rushi Patel and Kurt Evenson,
along with PEDC Executive Director, City Manager and City Attorney.
Motion Passed 4 - 0
The Vice President temporarily adjourned the meeting at 7:35 p.m.
The meeting reconvened at 7:47 p.m.
I. Budget Amendment: Board Member Rushi Patel made the motion, seconded by Board
Member Gary Idoux to advise staff to move forward purchasing furniture and office
equipment, not to exceed $101,000.00, excluding furniture and equipment for the conference
center.
Motion Passed: 4 - 0
J. 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 8:14 p.m.
1. Section 551.087 — Deliberations Regarding Economic Development Negotiations —
Update on Business Attraction/Retention Projects.
2. Section 551.072 — Real Property - Deliberations Regarding the Sale, Lease, Purchase,
or Exchange of Real Property.
3. Section 551.087 — Deliberations Regarding Economic Development Negotiations —
Prospect #1002.
4. SECTION 551.087 — Deliberations Regarding Economic Development Negotiations —
Prospect #0913.
The Board reconvened into Open Session at 8:59 p.m.
New Business Continued:
K. Economic Development Negotiations — Business Attraction/Retention Projects: No action
was taken.
Minutes of a Regular Meeting
April 26, 2010
Page 4
L. Real Property — Regarding the Sale, Lease, Purchase, or Exchange of Real Property: No
action was taken.
M. Economic Development Negotiations —Prospect #1002: No action was taken.
N. Economic Development Negotiations —Prospect #0913: No action was taken.
VII. Adjournment: The meeting was adjourned at 8:59 p.m.
Minute approved as submitted
AN , A.D., 2010.
ATT
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