2010-08-26 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 THURSDAY,
AUGUST 26, 2010, 5:00 P.M., BOARD ROOM, PEDC OFFICE, 1200 PEARLAND PARKWAY, SUITE 200,
PEARLAND, TEXAS.
Call to order
The meeting was called to order at 5:14 p.m
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President
Vacant
Vice President
Charles Gooden, Jr.
Secretary
Lucy Stevener
Board Member
Kurt Evanson
Board Member
Gary Idoux
Board Member
Mike O'Day
Board Member
Rushi Patel
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
CITY OF PEARLAND STAFF MEMBERS
Darrin Coker
Nghiem Doan
Minutes of a Regular Meeting
August 26, 2010
Page 2
II. Approval of Minutes: Board Member Evenson made the motion, seconded by Board Member Idoux
to approve the Minutes of the Regular Meeting of July 22, 2010.
Motion Passed: 6 - 0
III. Public Comments
IV. Financial Report
A. Monthly Financial Report ending June 30, 2010: Director of Finance Claire Bogard gave a
summary of the financial report. Report submitted to file.
The meeting was temporarily adjourned at 5:26 p.m.
The meeting reconvened at 5:37 p.m.
B. Quarterly Investment Report: Director of Finance Claire Bogard gave a summary of the
quarterly investment report. Report submitted to file.
C. Five Year Forecast: Director of Finance Claire Bogard gave a summary of the five year
forecast. Report submitted to file.
V. New Business
A. Northern Brazoria County Education Alliance: Executive Director Terrie Morgan gave a
report for quarter ending June 30, 2010. Report submitted to file.
B. Marketing Plan Review: Executive Director Buchanan reviewed with the Board a copy of the
proposed marketing plan for 2010-12. He also introduced Ben Wright, Atlas Advertising, and
his staff.
C. Web Proposal: Jenny Brannon reviewed the proposed contract for website development
services. Board Member Patel made the motion, seconded by Board Member O'Day to
approve the Executive Director to enter into a contract with Atlas Advertising for website
design services.
Motion Passed: 6 - 0
The meeting was temporarily adjourned at 7:17 p.m.
The meeting reconvened at 7:31 p.m.
D. Vehicle Replacement: Board Member Evanson made the motion, seconded by Secretary
Stevener to authorize Executive Director to purchase a replacement vehicle for an amount
not to exceed $40,000.
Motion Passed: 5 —1
Ayes: Gooden, Stevener, Evanson, Idoux, O'Day
Noes: Patel
E. Bylaw Review: Executive Director Buchanan and City Attorney Darrin Coker gave an update
on the progress being made on reviewing the current bylaws by the Governance Committee.
Discussion on contract and conflict of interest provisions.
Minutes of a Regular Meeting
August 26, 2010
Page 3
F. Monthly Activity Report: Executive Director Buchanan summarized ongoing activity. Report
submitted to file.
VI. Other Business
Executive Session Under Texas Government Code
The meeting was adjourned to enter into Executive Session at 9:20 p.m.
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 #1012
3. Section 551.087 — Deliberations Regarding Economic Development Negotiations —
Prospect #1013
4. Section 551.087 — Deliberations Regarding Economic Development Negotiations —
Prospect #0608
The Board reconvened into Open Session at 9:45 p.m.
New Business Continued:
G. Economic Development Negotiations — Business Attraction/Retention Projects: No action
was taken.
H. Economic Development Negotiations — Prospect #1012: Board Member Idoux made the
motion, seconded by Board Member Evanson to approve the Executive Director to negotiate
and enter into a performance agreement with Prospect #1012 to create ten (10) new jobs in
Pearland with an average annual salary of $40,000 per year. The total incentive will not
exceed $15,000 ($1,500 per job) in one installment upon company executing a three year
lease in an office facility in the City of Pearland and receiving a certificate of occupancy. If
the company fails to execute a lease and obtain a certificate of occupancy by May 31, 2011
the incentive agreement is null and void. A minimum of ten (10) jobs will need to be created
before any grant funds are dispersed.
Motion Passed: 6 - 0
Economic Development Negotiations — Prospect #1013: Board Member O'Day made the
motion, seconded by Secretary Stevener to approve the Executive Director to negotiate and
enter into a performance agreement with Prospect #1013 to create 25 new jobs. The total
incentive will not exceed $68,750 ($2,750 per job) in one installment upon the company
executing a five year lease in an office facility in the City of Pearland and receiving a
certificate of occupancy. If the company fails to execute a lease and obtain a certificate of
occupancy from the City of Pearland by March 1, 2011 the incentive is null and void.
Motion Passed: 6 - 0
J. Economic Development Negotiations — Prospect #0608: No new action was taken.
Minutes of a Regular Meeting
August 26, 2010
Page 3
VII. Adjournment
Time: 9:47 p.m.
Minutes approved as submitted and/or correc
y EOTL I' , A.D., 2010.
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