2012-04-26 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, THURSDAY, APRIL 26, 2012,5:00 P.M., BOARDROOM, PEDC
OFFICE, 1200 PEARLAND PARKWAY, SUITE 200, PEARLAND, TEXAS.
I. Call to Order
The meeting was called to order at 5:07 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
Sheila Fischer
Board Member
Rushi Patel
EX -OFFICIO MEMBERS
City of Pearland Mayor Tom Reid
City of Pearland Bill Eisen
Pearland Chamber of Commerce Carol Artz-Bucek
STAFF MEMBERS
Matt Buchanan
Ramon Lozano
Melissa Black
Janice Vega
CITY OF PEARLAND STAFF MEMBERS
Darrin Coker
Nghiem Doan
Rick Overgaard
Minutes of a Regular Meeting
April 26, 2012
Page 2
IL Approval of Minutes: Board Member Dansby made the motion, seconded by Board Member Patel to
approve the Minutes of the Regular Meeting of March 29, 2012.
Motion Passed: 6 — 0
Abstained: 1
III. Public Comments: None
IV. Financial Report: Assistant Director of Finance Rick Overgaard gave a summary of the February Financial
Report and the Quarterly Investment Report.
A. Monthly Financial Report — February 2012
B. Quarterly Investment Report
V. New Business
A. Excused Absence: Board Member Burnett made the motion, seconded by Vice Chair Idoux to
excuse the absence of Chair Gooden from the Regular Meeting of March 29, 2012.
Motion Passed: 6 — 0
Abstained: 1
B. Series 2010 Bonds: Ryan O'Hara, the Corporation's Financial Advisor with BOSC, Inc., discussed
refinancing options for the Series 2010 Bonds. Due to the large escrow requirements, the Board
will not consider refinancing at this time.
C. City of Pearland Ethics Ordinance: City Attorney Darrin Coker discussed the Ethics Ordinance
approved by the City Council on April 23, 2012 and the Corporation's current Conflict of Interest
requirement.
D. Pearland Chamber of Commerce Quarterly Report: President/CEO Carol Artz-Bucek gave a
quarterly report on the Business Retention and Expansion Program. Report submitted to file.
E. Monthly Activity Report: President Buchanan summarized ongoing activity. Report submitted to
file.
The meeting was temporarily adjourned at 6:25 p.m.
The meeting reconvened at 6:34 p.m.
VI. Other Business
The meeting was adjourned to enter into Executive Session at 6:34 p.m.
Executive Session Under Texas Government Code
1. Section 551.087 —Deliberations Regarding Economic Development Negotiations— Update on
Business Attraction/Retention Projects
2. Section 551.071— Consultation With City Attorney Regarding Potential Litigation.
The Board reconvened in to Open Session at 7:46 p.m.
Minutes of a Regular Meeting
April 26, 2012
Page 3
New Business Continued:
F. Economic Development Negotiations — Business Attraction/Retention Projects: No action was
taken.
G. Consultation with City Attorney Regarding Potential litigation: No action was taken
VII. Adjournment: The meeting was adjourned at 7:47 p.m.
Minutes approved as submitted and/or corrected this i day of
A.D., 2012. A
ATTEST:
Charles Gooden, r., Chair