2012-06-31 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, JUNE 31, 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 5:09 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
Claire Bogard
Nghiem Doan
Minutes of a Regular Meeting
June 28, 2012
Page 2
II. Approval of Minutes: Board Member Patel made the motion, seconded by Board Member Burnett to
approve the Minutes of the Regular Meeting of May 31, 2012.
Motion Passed: 6 - 0
III. Public Comments: None
IV. Financial Report
A. Monthly Financial Report — April 2012: Director of Finance Claire Bogard gave a summary of the
April report.
Chair Gooden arrived at the meeting at 5:15 p.m.
V. New Business
A. Excused Absence: Board Member Burnett made the motion, seconded by Secretary Stevener to
excuse the absence of Board Members Brandon Dansby and Rushi Patel from the Regular
Meeting of May 31, 2012.
Motion Passed: 4 — 0
Abstained: 2
B. Investment Policy, Strategy and Approved Brokers: Director of Finance Claire Bogard reviewed
the report. Board Member Patel made the motion, seconded by Board Member Dansby to
approve the Investment Policy, Strategy and List of Brokers.
Motion Passed: 7 - 0
C. 2012/2013 Program of Work: Board Member Dansby made the motion, seconded by Board
Member Fischer to approve the 2012/2013 Program of Work
Motion Passed: 7 - 0
D. Public Hearing on the Fiscal Year 2012/2013 Budget and Related Projects: The Public Hearing was
opened at 5:35 p.m. to discuss the Fiscal Year 2012/2013 PEDC Budget. There were no
comments from the public. The Public Hearing was closed at 5:35 p.m.
E. 2011/2012 Budget Amendments and Fiscal Year 2012/2013 Budget: Board Member Patel made
the motion, seconded by Board Member Burnett to approve the 2011/2012 Budget Amendments
and adopt the Fiscal Year 2012/2013 Budget.
Motion Passed: 7 - 0
F. Reimbursement Agreement with City of Pearland for Business Center Drive Project: No action
was taken.
G. Monthly Activity Report: President Buchanan summarized ongoing activity. Report submitted to
file.
The meeting was temporarily adjourned at 5:55 p.m.
The meeting reconvened at 6:02 p.m.
VI. Other Business
The meeting was adjourned to enter into Executive Session at 6:02 p.m.
Minutes of a Regular Meeting
June 28, 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 551.071— Consultation With City Attorney Regarding Potential Litigation
The Board reconvened in to Open Session at 6:25 p.m.
New Business Continued:
H. Economic Development Negotiations — Business Attraction/Retention Projects: No action was
taken.
Consultation with City Attorney Regarding Potential Litigation: Board Member Burnett made the
motion, seconded by Board Member Dansby to approve the amendment to the Job Creation
Agreement with Cardiovascular Systems, Inc.
Motion Passed: 7 - 0
VII. Adjournment: The meeting was adjourned at 6:26 p.m.
3aT N
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Minutes approved as submitt and/or corrected this day of A uc,U 5`r
A.D., 2012.
ATTEST: `
y Stevener, Secretary