2017-10-26 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 HELD THURSDAY OCTOBER 26, 2017 5 00 P.M., BOARD ROOM,
PEDC OFFICE, 11233 SHADOW CREEK PARKWAY, SUITE 235, 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 Mona Chavarria
Board Member Hugh Patton
Board Member Celeste Jefferson
Board Member Reid Wendell
EX-OFFICIO MEMBERS
PEDC Matt Buchanan
City of Pearland Mayor Tom Reid
City of Pearland Clay Pearson
PEARLAND ECONCOMIC DEVELOPMENT STAFF MEMBERS
Melissa Black
Roxanne Luna -Larsen
Brian Malone
Valerie Marvin
II. APPROVAL OF MINUTES
Secretary Dansby made a motion to approve the minutes of the Regular Meeting of September 28, 2017.
Motion Passed 4-0
111. PUBLIC COMMENTS
Fay Watson of Keep Pearland Beautiful presented the PEDC with the October 2017 Beautification Award
for the Lower Kirby Drive entryway sign and corridor enhancements.
Board Member Patton arrived.
The meeting went into recess at 5:03 p.m. for photos.
The meeting reconvened at 5:05 p.m.
Minutes of a Regular Meeting
October 26, 2017
Page 2
Board Member Jefferson arrived.
IV. FINANCIAL REPORT
A. Monthly Financial Report — Chairman Patel asked for any questions regarding the September
2017 Financial Report and Tom March City of Pearland Financial Analyst, was present to address
the questions. President Buchanan noted that corrections are pending in the transfers to the City
related to Capital Projects. Chairman Patel requested that a list of projects be created to assist in
identifying them. President Buchanan said that projects should be named consistently to
accurately identify them.
N o action taken pending the changes to the report.
B. Quarterly Investment Report
N o action taken
V. NEW BUSINESS
A. Excuse the absence of Board Members Jefferson and Wendell from the September 28, 2017
meeting.
Secretary Dansby made a motion, seconded by Board Member Wendell to excuse the absence of
Board Members Jefferson and Wendell from the September 28, 2017 meeting.
Motion Passed: 6-0
B. Economic Alliance Houston Port Region — Annual Report
Chad Burke, President and CEO of the Economic Alliance Houston Port Region, presented the
2017 Annual Report of Economic Development Activities and introduced Fred Welch, their new
✓ ice President of Economic Development.
N o action taken
C. Budget Carryovers and Amend the Fiscal Year 2017 - 2018 Budget
The approved FY 2017-2018 Budget must be amended to carryover unspent funds from FY 2016-
2017 items budgeted in last fiscal year to the current fiscal year which began October 1st for
projects still in progress. Amendments have also been made to line items that need to be
increased or decreased.
Board Member Chavarria made a motion, seconded by Board Member Jefferson, to approve to
the FY 2017-2018 budget to reflect total revenue of $14,049,972 and expenditures of
$18,523,325.
Motion Passed: 6-0
D. 2018 PEDC Board Meeting Dates
President Buchanan presented the Board with meeting dates for 2018.
Board Member Patton made a motion, seconded by Secretary Dansby, to approve the 2018
Board meetings dates
Motion Passed: 6-0
E. Monthly Activity Report - President Buchanan summarized ongoing activity
The meeting went into recess at 5:57 p.m.
The meeting reconvened and went into Executive Session at 6:07 p.m.
Minutes of a Regular Meeting
October 26, 2017
Page 3
VI. OTHER BUSINESS
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
#1102
3. Section 551 071 — Deliberations regarding economic development negotiations — Prospect
#1704
The Board reconvened into Open Session at 6:33 p.m.
New Business Continued:
D. Economic Development Negotiations — Business Attraction/Retention Projects
No action taken
E Economic Development Negotiations — Prospect #1102
Board Member Jefferson made a motion, seconded by Secretary Dansby, to recommend
approval of the President amending the loan agreement with Prospect #1102 to extend the term
and adjust the job creation requirements.
Motion Passed 6-0
F. Economic Development Negotiations Prospect #1704
Board Member Jefferson made a motion, seconded by Board Member Chavarria, to authorize the
President enter into a revised lease amendment with Cardiovascular Systems, Inc. with the
parameters discussed in executive session.
Motion Passed: 6-0
Adjournment: The meeting was adjourned at 6:34 p.m.
Minutes approved as submitted and/or corrected this I akin
A.D , 2017.
ATTEST:
Lucy Stevener, Vice Chair
day of 1) Ct QVYZ\fav,
Rushi Paid, Chair