2013-09-26 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, SEPTEMBER 26, 2013, 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 5:00 p.m.
BOARD MEMBERS
Vice Chair Gary Idoux
Board Member Brandon Dansby
Board Member Sheila Fischer
Board Member Rushi Patel
Due to a conflict in schedule, Chair Charles Gooden, Secretary Lucy Stevener and Board Member Jim
Burnett were unable to attend the meeting.
EX-OFFICIO MEMBERS
City of Pearland Mayor Tom Reid
Pearland Chamber of Commerce Carol Artz-Bucek
City of Pearland Bill Eisen
STAFF MEMBERS
Matt Buchanan
Melissa Black
Carlos Guzman
Roxanne Luna -Larsen
CITY OF PEARLAND STAFF MEMBERS
Claire Bogard
Rick Overgaard
Nghiem Doan
Minutes of a Regular Meeting
September 26, 2013
Page 2
II. Approval of Minutes: Board Member Dansby made the motion, seconded by Board Member Fischer to
approve the minutes of the Regular Meeting of August 22, 2013.
Motion Passed: 4 - 0
III. Public Comments: None
IV. Financial Report
A. Monthly Financial Report — July 2013: Director of Finance Claire Bogard gave an overview of the
July report.
V. New Business
A. Excused Absence: Vice Chair Dansby made the motion, seconded by Board Member Patel to
excuse the absence of Board Member Fischer from the meeting of August 22, 2013.
Motion Passed: 4-0
B. Investment Report: Assistant Director of Finance Rick Overgaard gave an overview of the
Investment Policy, Strategy and Approved Brokers. Board Member Dansby made a motion,
seconded by Board Member Fischer to approve the policy.
Motion Passed: 4-0
C. Finance Agreement for Elections and Operating Advances and Administrative Services contract
with the Pearland Municipal Management District #2: President Buchanan presented the
proposed Administrative Services Contract for discussion and the Financing Agreement between
the Pearland Economic Development Corporation and the Pearland Municipal Management
District #2 for consideration of approval. Board Member Patel made the motion, seconded by
Board Member Dansby to approve the Financing Agreement.
Motion Passed: 4-0
D. President Buchanan provided an update on the Lower Kirby Regional Detention Facility
E. Monthly Activity Report: President Buchanan summarized ongoing activity. Report submitted to
file.
The meeting was temporarily adjourned at 5:36 p.m.
The meeting reconvened at 5:42 p.m.
VI. Other Business
The meeting was adjourned to enter into Executive Session at 5:42 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 551.087 — Deliberations Regarding Economic Development Negotiations — — Prospect
#1101
3. Section 551.087 — Deliberations Regarding Economic Development Negotiations — — Prospect
#1305
Minutes of a Regular Meeting
September 26, 2013
Page 3
The Board reconvened in to Open Session at 6:03 p.m.
New Business Continued:
F. Economic Development Negotiations — Business Attraction/Retention Projects — No action was
taken.
G. Economic Development Negotiations — Prospect #1301: Board Member Patel made the motion,
seconded by Board Member Fischer to approve the extension of the loan agreement between
the PEDC and Prospect #1301.
Motion Passed: 4 - 0
H. Economic Development Negotiations — Prospect #1305 - No action was taken.
VII. Adjournment: The meeting was adjourned at 6:04 p.m.
Minutes approved as submitted and/or corrected this o11 Si day of MOVe- -bed ,
A.D., 2013.
ATTEST:
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