2018-04-26 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, APRIL 26, 2018, 5 00 P.M., BOARD ROOM,
PEDC OFFICE, 3519 LIBERTY DRIVE, SUITE 350, PEARLAND, TEXAS.
CALL TO ORDER
The meeting was called to order at 5:00 p.m.
BOARD MEMBERS
Chair Brandon Dansby
Vice -Chair Hugh Patton
Secretary Mona Chavarria
Board Member Rushi Patel
Board Member Chad Thumann
Board Member Reid Wendell
EX-OFFICIO MEMBERS
PEDC Matt Buchanan
Pearland Chamber of Commerce Carol Artz-Bucek
City of Pearland Tom Reid
PEARLAND ECONCOMIC DEVELOPMENT STAFF MEMBERS
Melissa Black
Roxanne Luna -Larsen
Brian Malone
Valerie Marvin
CITY OF PEARLAND
Jon Branson
Tom March
I1. APPROVAL OF MINUTES
Vice Chair Patton made a motion, seconded by Secretary Chavarria, to approve the minutes of the Regular
Meeting of March 22, 2018.
Motion Passed 6-0
Minutes of a Regular Meeting
April 26, 2018
Page 2
III. PUBLIC COMMENTS
None
IV. FINANCIAL REPORT
A. Monthly Financial Report — March 2018
President Buchanan presented the March 2018 Financial Report. Tom March, City of Pearland
Financial Analyst, was present to address any questions.
B. FY 2017 Audit
Tom March presented the FY 2017 Audit
Secretary Chavarria, made a motion, seconded by Board Member Wendell, to approve both the
March 2018 Financial Report and the FY 2017 Audit.
Motion Passed: 6-0
V. NEW BUSINESS
A. Chamber of Commerce Quarterly Biz Connect Report
President of the Pearland Chamber of Commerce, Carol Artz-Bucek, presented the second
quarter BizConnect report.
No action taken.
B. FM 518/ Broadway Reconstruction Letter of Support
President Buchanan requested a letter of support from the PEDC to the H-GAC supporting the
widening project of FM 518 and Broadway from SH 288 to SH 35 from a rural 4 lane cross section
with a continuous left turn and sporadic retrofitted medians to an urban 6-lane boulevard with
raised medians. The Board requested that staff look at options for the burial of power along the
corridor.
Board Member Thumann made a motion, seconded by Board Member Patel, to approve Chair
sign a letter of support for the FM 518/ Broadway Reconstruction
Motion Passed: 6-0
C. Monthly Activity Report - President Buchanan summarized ongoing activity
The meeting went into recess at 5:45 p.m.
The meeting reconvened and went into Executive Session at 6:00 p.m.
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
AND REIMBURSEMENT AGREEMENT WITH THE CITY OF PEARLAND — Project #1503
3. SECTION 551.072 — DELIBERATIONS REGARDING REAL PROPERTY — Project #1801
4. SECTION 551.087 — DELIBERATIONS REGARDING ECONOMIC DEVELOPMENT NEGOTIATIONS —
Project #1802
Minutes of a Regular Meeting
April 26, 2018
Page 3
The Board reconvened into Open Session at 6:57 p.m.
New Business Continued:
D. Economic Development Negotiations — Business Attraction/Retention Projects
No action taken
E. Economic Development Negotiations — Project #1503
Board Member Patel made a motion, seconded by Secretary Chavarria, to approve the President
to negotiate and enter into enter into a revised loan agreement Prospect #1503 for an amount
no to exceed $1 152M.
Motion Passed: 6-0
F. Deliberations Regarding Real Property — Project #1801
No Action Taken
G. Economic Development Negotiations — Project #1802
No Action Taken
Adjournment: The meeting was adjourned at 7:22 p.m.
Minutes approved as submitted and/or corrected this ,) gin
A.D., 2018.
ATTEST:
Hugh Patton, Vice Chair
day of
Dansby, Brandon Da y,