2115-11-19 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, NOVEMBER 19, 2015, 5:00 P.M., BOARD
ROOM, PEDC OFFICE, 1200 PEARLAND PARKWAY, SUITE 200, PEARLAND, TEXAS.
CALL TO ORDER
The meeting was called to order at 5:01 p.m.
BOARD MEMBERS
Chair Rushi Patel
Secretary Brandon Dansby
Board Member Hugh Patton
Board Member Jeff Barry
Board Member Mona Chavarria
Board Member Reid Wendell
Due to a scheduling conflict, Vice -Chair Lucy Stevener was not in attendance.
EX-OFFICIO MEMBERS
City of Pearland Clay Pearson
PEDC Matt Buchanan
Pearland Chamber Carol Artz-Bucek
PEARLAND ECONCOMIC DEVELOPMENT STAFF MEMBERS
Melissa Black
Roxanne Luna -Larsen
Brian Malone
Valerie Marvin
CITY OF PEARLAND STAFF MEMBERS
Claire Bogard
Tara Kilpatrick
II. Approval of Minutes
Board Member Dansby made the motion, seconded by Board Member Chavarria to approve the minutes
of the Regular Meeting of October 29, 2015.
Motion Passed: 4 — 0
Minutes of a Regular Meeting
November 19, 2015
Page 2
III. Public Comments:
None
IV. Financial Report
A. Monthly Financial Report — September 2015
Budget Officer, Tara Kilpatrick, gave an overview of the September 2015 financial report.
Board Member Barry arrived at 5:04 p.m.
Board Member Wendell arrived at 5:05 p.m.
V. New Business
A. Pearland 20/20 Strategic Plan Mid -Course Update:
The Board reviewed the outline of revised Pearland 20/20 Community Strategic Plan. The nine
key strategies have remained the same, but strategic actions in some key initiatives have been
modified to reflect what has been accomplished.
Board Member Barry made the motion, seconded by Board Member Patton, to adopt the revised
Pearland 20/20 Strategic Plan Mid -Course Update.
Motion passed: 6-0
B. Budget Carryovers — Amend the FY 2015-2016 Budget:
President Buchanan presented the FY 2015-2016 amended budget, which will carryover unspent
funds from items budgeted in last fiscal year to our current FY 2015-2016 budget that began
October 1, 2015. Funds for several line items also need to be increased or decreased and new
line items have been added. The amount of amendments and carryovers is $5.1M for total
expenditures of $17.3M.
Board member Chavarria made a motion, seconded Board Member Patton, to approve the
carryovers for amended FY2014-2015 budget. Note that the motion read requested approval for
the FY 2014-2015 budget but the intent was for approval of the FY 2015-2016 budget.
Motion passed: 6-0
C. Revised Five -Year Budget Projections:
The Board reviewed the amended 2015-2020 Five Year Forecast. Two versions were presented
by President Buchanan: the first version shows no revenue set aside in a reserve, the second
showed 20% of sales tax revenue in reserve fund to retire outstanding debt.
The Board requested that an alternate forecast be provided at the next board meeting showing
10% of revenue cumulatively reserved as a contingency fund with a cap of $5M over the current
$3M reserved.
D. Lower Kirby District Entryway Design Agreement with Clark Condon and Associates:
A Professional Services Contract and proposal for the overall development of the Lower Kirby
District brand, including, logo, signage, and landscaping prototype design, materials selection,
construction design, and budget estimates was presented to the Board for consideration.
Secretary Dansby made a motion, seconded by Board Member Barry, to approve the President
enter into a Professional Services Contract for services as described with Clark Condon and
Associates in an amount not to exceed $105,000.
Motion Passed: 6-0
Minutes of a Regular Meeting
November 19, 2015
Page 3
E. Monthly Activity Report: President Buchanan provided a brief summary of ongoing activity.
VI. Other Business
The meeting did not go into recess or enter into Executive Session. No new information was available at
the time of the meeting for items VI. 1-2. and discussion was not required.
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
#1511
VII. New Business
F. CONSIDERATION AND POSSIBLE ACTION: Economic Development Negotiations — Business
Attraction/ Retention Projects
No discussion or action taken.
G. CONSIDERATION AND POSSIBLE ACTION: Economic Development Negotiations — Prospect #1511
No discussion or action taken.
VIII. Adjournment: The meeting was adjourned at 7:23 p.m.
Minutes approved as submitted and/or corrected this t 0
A.D., 2015.
ATTEST.
ener, Vice Chair
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Rush' Patel, Chair
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