2015-01-29 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, JANUARY 29, 2015, 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 5:02 p.m.
BOARD MEMBERS
Vice -Chair Lucy Stevener
Board Member Brandon Dansby
Board Member Hugh Patton
Board Member Mona Chavarria
Board Member Jeff Barry
Due to a scheduled conflict, Chairman Patel was unable to attend the meeting.
EX-OFFICIO MEMBERS
City of Pearland Mayor Tom Reid
City of Pearland Clay Pearson
PEDC Matt Buchanan
Pearland Chamber of Commerce Carol Artz-Bucek
PEARLAND ECONCOMIC DEVELOPMENT STAFF MEMBERS
Melissa Black
Roxanne Luna -Larsen
Brian Malone
CITY OF PEARLAND STAFF MEMBERS
Claire Bogard
Darrin Coker
Rick Overgaard
Minutes of a Regular Meeting
January 29, 2015
Page 2
II. Approval of Minutes: Board Member Fischer made the motion, seconded by Board Member Barry to
approve the minutes of the Regular Meeting of December 11, 2014.
Motion Passed: 5-0
Board Member Chavarria arrived at 5:03 p.m.
III. Public Comments:
None.
IV. Financial Report
A. Monthly Financial Report — November 2014: Director of Finance, Claire Bogard gave an overview
of the November 2014 report.
B. Quarterly Investment Report — December 2014: Assistant Director of Finance, Rick Overgaard,
gave an overview of the Quarterly Investment Report.
V. New Business
A. Excused Absence: Board Member Dansby made the motion, seconded by Board Member Patton
to excuse the absence of Secretary Fischer from the meeting of December 11, 2014.
Motion Passed: 6-0
B. Chamber of Commerce Quarterly Report, October — December 2014: Carol Artz-Bucek,
President/CEO of the Pearland Area Chamber of Commerce presented the third quarter Business
Retention and Expansion Program Report.
Due to time constraints, Agenda Item V. New Business E. Highway 288 Enhancement Update was
moved.
Highway 288 Enhancements Update: Sheila Condon, of Clark Condon and Associates provided an
update for the two scopes of service for the design and engineering of the long term
improvements for the 288 corridor. Ms. Condon explained that by reviewing each plan and
marking changes at this phase they are capitalizing on the engineering plans already completed
by Brazoria County and ensuring that the hardscaping completed by the County will conform to
the over -all -plan approved by the Board.
No action was taken.
C. Bylaw Amendment —Term Limits: President Buchanan presented the board with a changes to
the current bylaws as requested at the December Board meeting. Current bylaws allow for an
unlimited number of terms for a Board Member. The proposed change would limit members to
two three year terms and implementation is staggered to insure that the Board does not lose
members immediately.
Board member Barry made a motion seconded by Board Member Patton to approve the bylaw
changes.
Motion passed: 6-0.
Minutes of a Regular Meeting
January 29, 2015
Page 3
D. Reimbursement Agreement with the City of Pearland for the Lower Kirby Underground Facility:
President Buchanan presented to the Board a Reimbursement Agreement with the City for a
portion of the projected cost of the design, engineering and construction of the underground
electric facility on Kirby Drive. The PEDC will fund the portion of the improvements that exceed
the City's portion. The total estimated cost for the project is $1,112, 297.50 with PEDC's
contribution of $912,297.50.
Board Member Barry made the motion, seconded by Board Member Dansby to approve that the
Chairman enter into a Reimbursement Agreement with the City of Pearland for $912,297.50
Motion passed: 6-0
F. Monthly Activity Report: President Buchanan summarized ongoing activity. Report submitted to
file.
VI. Other Business
The meeting was adjourned at 6:04 p.m. and entered into enter into Executive Session at 6:18 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
#1406
3. Section 551.087 — Deliberations Regarding Economic Development Negotiations — Prospect
#1408
4. Section 551.087 — Deliberations Regarding Economic Development Negotiations — Prospect
#1500
5. Section 551.087 — Deliberations Regarding Economic Development Negotiations — Prospect
#1501
The Board reconvened into Open Session at 7:00 p.m.
New Business Continued:
G. Economic Development Negotiations — Business Attraction/Retention Projects: No action
was taken.
H. Economic Development Negotiations — Prospect #1406: Board Member Dansby by a motion
seconded by Board Member Barry to approve that the President enter into an Agreement
with Prospect #1406 for the amount of $247,000.
Motion Passed: 6-0
I. Economic Development Negotiations — Prospect #1408: No action was taken.
J. Economic Development Negotiations — Prospect #1500: No action was taken.
Minutes of a Regular Meeting
January 29, 2015
Page 4
K. Economic Development Negotiations — Prospect #1501: Board Member Dansby made a
motion seconded by Board Member Barry to approve that President Buchanan enter into a
loan agreement with Prospect #1501 and or related entities for an amount not to exceed
$30,000.
Motion approved: 6 - 0
VII. Adjournment: The meeting was adjourned at 7:01 p.m.
Minutes approved as submitted and/or corrected this ga° l
A.D., 2015.
ATTEST:
Sheila Fischer, Secretary
day of 0../P-4.--j
Rushi P.tel, Chair