2010-10-25 DEVELOPMENT AUTHORITY OF PEARLAND SPECIAL MEETING MINUTESMINUTES OF A SPECIAL MEETING OF THE DEVELOPMENT AUTHORITY OF
PEARLAND, CITY OF PEARLAND TEXAS, HELD ON MONDAY, OCTOBER 25,
2010, 4:00 P.M., IN THE FIRST FLOOR CONFERENCE ROOM AT PEARLAND CITY
HALL, 3519 LIBERTY DRIVE, PEARLAND, TEXAS.
Mayor Reid called the meeting to order at 4:00 p.m. with the following present:
Chairman
Tom Reid
Secretary
Ed Baker
Boardmember
Bill Sloan
Boardmember
Tom Pool
Boardmember
Brandon K. Dansby
Others in attendance: Bill Eisen City of Pearland City Manager; Claire Bogard City of
earland Director of Finance; Sonia Webb City of Pearland Deputy City Secretary; Ryan
O'Hara RBC Capital; Trey Lary Allen Boone Humphries Robinson; Drew Pelter Shadow
Creek Ranch Development Company.
NEW BUSINESS:
BOARD ACTION — APPROVAL OF THE DEVELOPMENT AUTHORITY OF
PEARLAND BOARD OF DIRECTORS MEETING MINUTES FOR MAY 3, 2010,
SPECIAL MEETING HELD AT 4:00 P.M. DAP Board of Directors.
Boardmember Reid made the motion, seconded by Boardmember Pool, to approve the
Minutes of the May 3, 2010, Development Authority of Pearland Meeting.
Voting "Aye" Boardmembers Reid, Baker, Sloan, Pool, and Dansby.
Voting "No" None.
Motion Passed 5 to 0.
BOARD ACTION — RESOLUTION NO. RDAP-2010-8 — A RESOLUTION OF THE
DEVELOPMENT AUTHORITY OF PEARLAND (DAP), TEXAS APPROVING A CASH
PAYMENT TO SHADOW CREEK RANCH DEVELOPMENT COMPANY LTD TO
REIMBURSE FOR TIRZ INFRASTRUCTURE IMPROVEMENTS. Ms. Claire Bogard,
Director of Finance.
Boardmember Baker made the motion, seconded by Boardmember Sloan, to approve
Resolution No. RDAP-2010-08.
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City of Pearland Director of Finance Claire Bogard stated this item is for the approval of
a cash reimbursement to Shadow Creek Development Company in the amount of
$4,740,000. Currently the Development Authority of Pearland (DAP) has reimbursed a
total of $62,773,830 including interest. There are approximately $93.5 million in
improvements approved for reimbursement by the Tax Increment Reinvestment Zone
No. 2 (TIRZ No. 2) that have not yet been reimbursed. The total reimbursement
includes $1,438,000 from the TIRZ No. 2 and $3,302,000 from the DAP.
Discussion ensued between Boardmembers and City of Pearland Director of Finance
Claire Bogard regarding the Resolution.
Voting "Aye" Boardmembers Reid, Baker, Sloan, Pool, and Dansby.
Voting "No" None.
Motion Passed 5 to 0.
BOARD ACTION — RESOLUTION NO. RDAP-2010-9 — A RESOLUTION OF THE
DEVELOPMENT AUTHORITY OF PEARLAND (DAP), ACCEPTING THE FINANCIAL
REPORT FOR THE PERIOD ENDING SEPTEMBER 30, 2010.
Ms. Claire Bogard, Director of Finance.
Boardmember Dansby made the motion, seconded by Boardmember Sloan, to approve
Resolution No. RDAP-2010-9.
City of Pearland Director of Finance Claire Bogard stated this item is to accept the
Financial Report and provided the Board with the details of the report.
Voting "Aye" Boardmembers Reid, Baker, Sloan, Pool, and Dansby.
Voting "No" None.
Motion Passed 5 to 0.
BOARD ACTION — RESOLUTION NO. RDAP-2010-10 — A RESOLUTION OF THE
DEVELOPMENT AUTHORITY OF PEARLAND (DAP), ACCEPTING THE
INVESTMENT REPORT FOR THE QUARTERS ENDING JUNE 2010 AND
SEPTEMBER 2010. Ms. Claire Bogard, Director of Finance.
Boardmember Pool made the motion, seconded by Boardmember Sloan, to approve
Resolution No. RDAP-2010-10.
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City of Pearland Director of Finance Claire Bogard provided the Board with a detailed
review of the Investment Report for the quarters ending June 30, 2010, and September
30, 2010.
Voting "Aye" Boardmembers Reid, Baker, Sloan, Pool, and Dansby.
Voting "No" None.
Motion Passed 5 to 0.
BOARD ACTION — RESOLUTION NO. RDAP-2010-11 — A RESOLUTION OF THE
DEVELOPMENT AUTHORITY OF PEARLAND (DAP), RATIFYING CHECKS 1071
THROUGH 1075. Ms. Claire Bogard, Director of Finance.
Boardmember Sloan made the motion, seconded by Boardmember Dansby, to approve
Resolution No. RDAP-2010-11.
City of Pearland Director of Finance Claire Bogard stated this item is for the Board to
ratify checks that have been issued to pay for expenses incurred by the Development
Authority of Pearland. The invoices were reviewed and approved by the invoice review
committee.
Voting "Aye" Boardmembers Reid, Baker, Sloan, Pool, and Dansby.
Voting "No" None.
Motion Passed 5 to 0.
ADJOURNMENT
Meeting was adjourned at 4:37 p.m.
Minutes approved as submitted and/or corrected this the 12th day of September, A.D.,
2011.
ATTEST:
Ed Baker
Secretary
Tom Reid
Chair
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