2011-09-29 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, SEPTEMBER 29,2011,5:00 P.M., BOARD
ROOM, PEDC OFFICE, 1200 PEARLAND PARKWAY, SUITE 200, PEARLAND, TEXAS.
I. Call to Order
The meeting was called to order at 5:03 p.m.
BOARD MEMBERS
Chair
Charles Gooden, Jr.
Vice Chair
Gary Idoux
Board Member
Jim Burnett
Board Member Brandon Dansby
Board Member Mike O'Day
Due to a conflict in schedule, Secretary Lucy Stevener and Board Member Rushi Patel were unable to attend
the meeting.
EX -OFFICIO MEMBERS
City of Pearland
Pearland Chamber of Commerce
STAFF MEMBERS
Matt Buchanan
Janice Vega
CITY OF PEARLAND STAFF MEMBERS
Claire Bogard
Nghiem Doan
Bill Eisen
Carol Artz-Bucek
Minutes of a Regular Meeting
September 29, 2011
Page 2
II. Approval of Minutes: Vice Chair Idoux made the motion, seconded by Board Member O'Day to approve the
Minutes of the Regular Meeting of August 25, 2011.
Motion Passed: 5 -0
III. Public Comments: None
IV. Financial Report
A. Monthly Financial Report ending July 31, 2011: Director of Finance Bogard gave a summary of the
July report.
V. New Business
A. Excused Absence: Vice Chair Idoux made the motion, seconded by Board Member O'Day to excuse
the absence of Board Member Burnett from the Regular Meeting of August 25, 2011,
Motion Passed: 4-0
Abstained: 1
B. Amendments to the Fiscal Year 2010/2011 Projections and the 2011/2012 Budget: Board Member
Dansby made the motion, seconded by Board Member Burnett to approve the Amendments to the
Fiscal Year 2010/2011 Projections and the 2011/2012 Budget which reflect changes to the Capital
Transfer - Orange Street lighting and salary — adjustment line items.
Motion Passed: 5-0
C. Early Retirement of Outstanding Debt Obligations: At the Board's request, staff prepared an analysis
to look at the early retirement of some of the Corporation's outstanding debt obligation. No action
was taken and staff will provide additional analysis at a future meeting.
D. Business Retention and Expansion Contract: President Buchanan reviewed the current contract and
will prepare a revised version for the Board to review at the next meeting.
E. Meeting Schedule: Board Member Burnett made the motion, seconded by Vice Chair Idoux to
approve changing the next PEDC meeting date from October 27, 2011 to November 3, 2011,
Motion Passed: 5 - 0
F. Monthly Activity Report: President Buchanan summarized ongoing activity. Report submitted to
file.
The meeting temporarily adjourned at 6:24 p.m.
The meeting reconvened at 6:34 p.m.
VI. Other Business
Executive Session Under Texas Government Code
The meeting was adjourned to enter into Executive Session at 6:34 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
#1104
The Board reconvened in to Open Session at 7:21 p.m.
Minutes of a Regular Meeting
September 29, 2011
Page 3
New Business Continued:
G. Economic Development Negotiations — Business Attraction/Retention Projects: No action was taken.
H. Economic Development Negotiations — Prospect #1104: No action was taken.
VII. Adjournment: The meeting was adjourned at 7:22 p.m.
Minutes approved as submitted and/or corrected this 3 CA
2011.
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