2014-08-28 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 HELD THURSDAY, AUGUST 28, 2014, 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
Chair Rushi Patel
Vice -Chair Lucy Stevener
Board Member Brandon Dansby
Board Member Gary Idoux
Board Member Hugh Patton
Due to a scheduled conflict, Board Member Burnett and Secretary Fischer were unable to attend the
meeting.
EX-OFFICIO MEMBERS
City of Pearland Mayor Tom Reid
City of Pearland Clay Pearson
PEDC Matt Buchanan
PEARLAND ECONCOMIC DEVELOPMENT STAFF MEMBERS
Melissa Black
Roxanne Luna -Larsen
Luis Nunez
CITY OF PEARLAND STAFF MEMBERS
Claire Bogard
Nghiem Doan
Rick Overgaard
Minutes of a Regular Meeting
August 28, 2014
Page 2
II. Approval of Minutes: Board Member Idoux made the motion, seconded by Board Member Dansby to
approve the minutes of the Regular Meeting of July 31, 2014.
Motion Passed: 5 — 0
III. Public Comments:
There were no public comments.
IV. Financial Report
A. Monthly Financial Report —June 2014: Director of Finance, Claire Bogard gave an overview of the
June 2014 report.
B. Quarterly Investment Report: Assistant Director of Finance, Rick Overgaard, gave an overview of
the Quarterly Investment Report.
V. New Business
A. Excused Absence: Board Member Idoux made the motion, seconded by Board Member Dansby
to excuse the absence of Secretary Fischer and Board Member Burnett from the meeting of July
31, 2014.
Motion Passed: 5-0
B. Investment Policy, Strategy and Approved Brokers: Assistant Director of Finance, Rick Overgaard,
presented the 2014 Revised Investment Policy and Strategy with Approved Brokers. Board
Member Dansby made a motion seconded by Board Member Idoux to approve the 2014 Revised
Investment Policy and Strategy with Approved Brokers.
Motion passed: 5-0
C. 2015 Meeting Schedule: President Buchanan presented the 2015 Board of Directors meeting
schedule. Vice -Chair Stevener made the motion, seconded by Board Member Patton to approve
the 2015 Meeting Schedule as presented.
Motion passed: 5 — 0
D. Monthly Activity Report: President Buchanan summarized ongoing activity. Report submitted to
file.
VI. Other Business
The meeting was adjourned at 5:21 p.m. to enter into Executive Session.
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
#1401
3. Section 551.087 — Deliberations Regarding Economic Development Negotiations — Prospect
#1405
Minutes of a Regular Meeting
August 28, 2014
Page 3
4. Section 551.087 — Deliberations Regarding Economic Development Negotiations — Prospect
#1407
The Board reconvened into Open Session at 5:58 p.m.
New Business Continued:
E. Economic Development Negotiations — Business Attraction/Retention Projects: No action was
taken.
F. Economic Development Negotiations — Prospect #1401: No action was taken.
G. Economic Development Negotiations — Prospect #1405: Board Member Idoux made a motion
Seconded by Board Member Dansby to approve that President Buchanan to negotiate and
enter into a loan agreement with Prospect #1405 for an amount not to exceed $189,000.
Motion approved: 5 - 0
H. Economic Development Negotiations — Prospect #1407: No action was taken.
VII. Adjournment: The meeting was adjourned at 5:58 p.m.
Minutes approved as submitted and/or corrected this
A.D., 2014.
ATTEST:
Sheila Fischer, Secretary
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Rus i Patel, Chair
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