2019-10-14 DEVELOPMENT AUTHORITY OF PEARLAND REGULAR MEETING MINUTES MINUTES OF A DEVELOPMENT AUTHORITY OF PEARLAND OF THE CITY COUNCIL
OF THE CITY OF PEARLAND, TEXAS, HELD ON OCTOBER 14, 2019 AT 4:00 PM, IN
THE COMMUNITY DEVELOPMENT - HOUSTON CONFERENCE ROOM I PEARLAND
CITY HALL ANNEX 3523 LIBERTY DRIVE, LIBERTY DRIVE, PEARLAND, TEXAS
CALL TO ORDER
Chairman Reid called the meeting to order at 4:00 p.m.
ROLL CALL AND CERTIFICATION OF QUORUM:
Chairman: Tom Reid
Secretary Ed Baker
Boardmember Tom Pool
Boardmember Tony Carbone
Others in attendance: Finance Director Cynthia Pearson, Deputy City Manager Jon
Branson, Assistant City Manager Trent Epperson, Assistant
Finance Director John McCarter, Assistant Director of Finance
Rhonda Daugherty, Lynne Humphries, Allen Boone Humphries
and Robinson LLP Allan Mueller, Interim City Secretary Maria E.
Rodriguez, Administrative Assistant Michael Muscarello, John
Robuck BOK, Financial Securities Rick Witte, Andrews Kurth
LLP.
Absent: Boardmember Donna Rizzo
NEW BUSINESS
Consideration and Possible Action - Approval of the Development Authority of Pearland
Board of Directors Meeting Minutes for September 23, 2019 Regular Meeting held at 4:00
p.m.
Boardmember Carbone made the motion, seconded by Boardmember Pool, to approve the
Meeting Minutes for September 23, 2019, Regular Meeting held at 4:00 P.M.
AYES: Boardmembers Carbone, Baker, Pool.
NAYS: None.
The motion carried.
Consideration and Possible Action - Resolution No. RDAP-2019-07 - A Resolution
Authorizing the Issuance of Development Authority of Pearland Tax Increment Contract
Revenue Bonds, Series 2019; Approving Documents Relating to the Series 2019 Bonds;
and Containing Other Provisions Related Thereto.
Boardmember Baker made the motion, seconded by Boardmember Pool, to approve Resolution
No. RDAP-2019-07.
John Robuck, BOK Financial Securities, provided an overview of the Development Authority of
Pearland Financial Pricing Results for $4,255,000 Tax Increment Contract Revenue Bonds,
series for 2019. Ms. Humphries and Mr. Witte responded to questions from the Board about the
Resolution, and they and Mr. Robuck discussed the steps to complete the bond sale.
AYES: Carbone, Baker, Pool.
NAYS: None.
The motion carried. Resolution No. RDAP-2019-07 is adopted.
Pearland Development Authority of October 14,2019
Pearland Minutes
Consideration and Possible Action - Resolution No. RDAP-2019-08 - A Resolution of the
Development Authority of Pearland, Texas Authorizing a Developer Reimbursement to Shadow
Creek Ranch Retail LP, or its successor or assignee for TIRZ Infrastructure Improvements
based on the remaining cash balance available after the final reimbursement to the master
developer plus the proceeds available from the Series 2019 bond sale.
Boardmember Pool made the motion, seconded by Boardmember Baker to approve Resolution
No. RDAP-2019-08.
Discussion ensured that this is only a partial payment to Shadow Creek Retail, LP, (the
developer of the Academy/HEB Center complex), and that future payment will be made in the
future to fulfill the reimbursement as TIRZ revenues increase or additional bonds are sold.
AYES: Carbone, Baker, Pool.
NAYS: None.
The motion carried. Resolution No. RDAP-2019-07 is adopted.
ADJOURNMENT
Chairman Reid adjourned the meeting at 4:44 p.m.
Minutes approved as submitted and/or corrected this the 28th y of S te" r 2020.
Tom Reid
Chairman
ATTEST:
Ed Baker
Secretary
Pearland Development Authority of October 14,2019
Pearland Minutes