2017-06-22 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 JUNE 22, 2017 5:00 P.M., BOARD ROOM, PEDC
OFFICE, 11233 SHADOW CREEK PARKWAY, SUITE 235, PEARLAND, TEXAS.
I. CALL TO ORDER
The meeting was called to order at 5:09 p.m.
BOARD MEMBERS
Vice Chair Lucy Stevener
Secretary Brandon Dansby
Board Member Celeste Jefferson
Board Member Hugh Patton
Board Member Reid Wendell
Due to a conflict in schedule, Chairman Patel and Board Member Chavarria, were unable to attend the
meeting
EX-OFFICIO MEMBERS
PEDC Matt Buchanan
City of Pearland Mayor Tom Reid
City of Pearland Clay Pearson
PEARLAND ECONCOMIC DEVELOPMENT STAFF MEMBERS
Melissa Black
Brian Malone
Roxanne Luna -Larsen
Valerie Marvin
II. Approval of Minutes
Secretary Dansby made a motion, seconded by Board Member Wendell to approve the minutes of the
Regular Meeting of May 25, 2017.
Motion Passed 5-0
III. Public Comments:
None
IV. New Business
A. Excuse the absence of Vice Chair Stevener and Board Members Jefferson and Patton from the
meeting on May 25, 2017.
Secretary Dansby made a motion, seconded by Board Member Wendell, to excuse the absence of
Vice Chair Stevener and Board Members Jefferson and Patton from the meeting on May 25,
2017.
Motion Passed: 5-0
Minutes of a Regular Meeting
June 22, 2017
Page 2
B. Program of Work 2017-2018
President Buchanan provided the Board with an update of the 2016-17 Program of Work and
presented the 2017-18 Program of Work
Secretary Dansby made a motion, seconded by Board Member Jefferson, to approve the
proposed 2016-17 Program of Work.
Motion Passed: 5-0
C. Public Hearing — FY2017-2018 Budget and Related Projects
The Public Hearing was opened at 5:24 p.m. by Vice Chair Stevener. There were no public
comments. The Public Hearing was closed at 5:25 p.m.
D. Amendment of the FY 2016-17 Budget and Adoption of the FY 2017-18 Budget
President Buchanan proposed year end amendments to the FY 2016-17 Budget and presented
the FY 2017-18 Budget. The FY2017-18 budget proposes revenue of $11.3M and expenses of
$14.9M. The deficit will come from existing fund balance. Staff also reviewed the 5-Year
Forecast.
Board Member Jefferson made a motion, seconded by Secretary Dansby to amend the FY 2016-
17 budget and adopt the proposed FY 2017-18 Budget.
Motion Passed: 5-0
E. Reimbursement Agreement with the City of Pearland for Lower Kirby District Park Improvement
and Hwy 288 Waterline Extension
A Reimbursement Agreement with the City of Pearland for the PEDC to finance the amenity
space proposed by America Modern Green (AMG) around the Lower Kirby District's regional
detention pond for a public park was proposed by President Buchanan. The PEDC would fund
the project cost above AMG s commitment of $1.9M, which is estimated to be $1M In addition,
to simplify having multiple Reimbursement Agreements, the PEDC is combining the previously
approved agreement with the City for the Lower Kirby 288 waterline connection project into this
agreement. PEDC will be reimbursed by the City for these expenses when funds are received
from the Lower Kirby Management District.
Secretary Dansby made a motion, seconded by Board Member Wendell, to approve the Chair to
execute a Reimbursement Agreement with the City of Pearland for the Lower Kirby Park
Improvements and 288 Waterline Connection projects in an amount estimated to be $1,189,000.
Motion Passed: 5-0
F. Monthly Activity Report - President Buchanan summarized ongoing activity
The meeting went into recess at 6:13 p.m.
The meeting went into Executive Session at 6:35 p.m.
V. Other Business
Executive Session Under Texas Government Code
1. Section 551.087 — Deliberations regarding economic development negotiations — Update on
Business Attraction/Retention Projects
The Board reconvened into Open Session at 6:35 p.m.
New Business Continued:
E. Economic Development Negotiations — Business Attraction/Retention Projects
No action taken
Minutes of a Regular Meeting
June 22, 2017
Page 3
Adjournment: The meeting was adjourned at 6:35 p.m.
Minutes approved as submitted and/or corrected this
A.D., 2017.
ATTEST:
Lucy Ste -;E er, Vice Chair
day of 3L1)QL4
Rushi P::tel, Chair