2012-01-25 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 WEDNESDAY, JANUARY 25, 2012, 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 5:05 p.m.
BOARD MEMBERS
Chair
Charles Gooden, Jr.
Vice Chair
Gary Idoux
Secretary
Lucy Stevener
Board Member
Jim Burnett
Board Member
Brandon Dansby
Board Member
Rushi Patel
Due to a conflict in schedule, Board Member Mike O'Day was unable to attend the meeting.
EX -OFFICIO MEMBERS
City of Pearland Mayor Tom Reid
City of Pearland Bill Eisen
STAFF MEMBERS
Matt Buchanan
Ramon Lozano
Melissa Black
Janice Vega
CITY OF PEARLAND STAFF MEMBERS
Claire Bogard
Nghiem Doan
Rick Overgaard
Minutes of a Regular Meeting
January 25, 2012
Page 2
II. Approval of Minutes: Board Member Dansby made the motion, seconded by Vice Chair Idoux to approve
the minutes of the Regular Meeting of December 8, 2011.
Motion Passed: 5 - 0
III. Public Comments: None
IV. Financial Report
A. Monthly Financial Report — October and November 2011: Claire Bogard, Director of Finance,
gave a summary of the November Financial Report.
B. Quarterly Investment Report — Ending December 31, 2011: Rick Overgaard, Assistant Director of
Finance, gave a summary of the Quarterly Investment Report.
Board Member Patel arrived at the meeting at 5:15 p.m.
V. New Business
A. Excused Absence: Board Member Burnett made the motion, seconded by Vice Chair Idoux to
excuse the absence of Board Member Mike O'Day from the Regular Meeting of December 8,
2011.
Motion Passed: 6 - 0
B. Financial Advisory Services Agreement — BOSC, Inc.: Ryan O'Hara, Managing Director with BOSC,
Inc. gave a brief company overview. Board Member Patel made the motion, seconded by Vice
Chair Idoux to approve the President to terminate the current relationship with RBC Capital
Markets and approve the President to enter into a Financial Advisory Services Agreement with
BOSC, Inc. for a five year period.
Motion Passed: 6 - 0
C. Amendment to the Agreement with KS Management Services, LLC.: Vice Chair Idoux made the
motion, seconded by Board Member Patel to approve the President to enter into a proposed
amendment to the Performance Agreement with KS Management, that was entered into on June
6, 2011, providing KS Management until June 30, 2013 to obtain their certificate of occupancy
and until September 30, 2013 to operate their new facility and create 600 FTE positions at the
site.
Motion Passed: 6 - 0
D. Monthly Activity Report: President Buchanan summarized ongoing activity. Report submitted to
file.
The meeting was temporarily adjourned at 5:39 p.m.
The meeting reconvened at 5:51 p.m.
Board Member Dansby left the meeting at 5:40 p.m.
VI. Other Business
The meeting was adjourned to enter into Executive Session at 5:51 p.m.
Minutes of a Regular Meeting
January 25, 2012
Page 3
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
#1104
3. SECTION 551.087 — Deliberations Regarding Economic Development Negotiations — Prospect
#1105
4. SECTION 551.087 — Deliberations Regarding Economic Development Negotiations — Prospect
#1201
5. SECTION 551.087 — Deliberations Regarding Economic Development Negotiations — Prospect
#1202
The Board reconvened in to Open Session at 7:58 p.m.
New Business Continued:
E. Economic Development Negotiations — Business Attraction/Retention Projects: No Action was
taken.
F. Economic Development Negotiations — Prospect #1104: Board Member Burnett made the
motion, seconded by Vice Chair Idoux to proceed as directed in executive session and negotiate
and enter into a loan agreement with Prospect #1104 for an amount not to exceed $400,000.
Motion Passed: 5 - 0
G. Economic Development Negotiations — Prospect #1105: No action was taken.
H. Economic Development Negotiations — Prospect #1201: No action was taken.
I. Economic Development Negotiations — Prospect #1202: No action was taken
VII. Adjournment: The meeting was adjourned at 8:00 p.m.
Minutes approved as submitted and/or corrected this
A.D., 20:
ATTEST:
--Z3CID day of