2020-09-28 DEVELOPMENT AUTHORITY OF PEARLAND REGULAR MEETING MINUTES MINUTES OF A REGULAR MEETING OF THE DEVELOPMENT AUTHORITY OF PEARLAND,
CITY OF PEARLAND TEXAS, HELD ON MONDAY, SEPTEMBER 28, 2020, 4:00 P.M., VIA
TELEPHONENIDEO CONFERENCE.
I. CALL TO ORDER
Chair Reid called the meeting to order at 4:06 p.m.
II. ROLL CALL -CERTIFICATION OF QUORUM
Chairman Tom Reid
Boardmember Tony Carbone
Boardmember Donna Rizzo
Boardmember Tom Baker
Boardmember Tom Pool was absent.
III. CITIZEN COMMENTS
There were none.
IV. NEW BUSINESS
1. Consideration and Possible Action - Approval of the Development
Authority of Pearland Board of Directors Regular Meeting Minutes for
October 14, 2019 held at 4:00 p.m.
Chair Reid made the motion, seconded by Boardmember Baker, to approve
the Meeting Minutes for October 14, 2019, Regular Meeting held at 4:00 P.M.
Voting "Aye" Boardmembers Reid, Carbone, Rizzo, Baker.
Voting "No" None.
The motion carried.
2. Consideration and Possible Action - Resolution No. RDAP 2020-01 - A
Resolution of the Development Authority of Pearland (DAP), accepting
the 2019 Annual Financial Report for the Fiscal Year ending September
30, 2019.
Boardmember Carbone made the motion, seconded by Chair Reid, to adopt
Resolution No. RDAP-2020-01.
Voting "Aye" Boardmembers Reid, Carbone, Rizzo, Baker.
Voting "No" None.
The motion carried. Resolution No. RDAP 2020-01 is adopted.
3. Consideration and Possible Action - Resolution No. RDAP 2020-02 - A
Resolution of the Development Authority of Pearland (DAP), approving a
Development Authority of Pearland Meeting Minutes-Sep 28 2020
contract with Arbitrage Compliance Specialists, Inc. for Arbitrage
compliance services.
Boardmember Baker made the motion, seconded by Chair Reid, to adopt
Resolution No. RDAP 2020-02.
Voting "Aye" Boardmembers Reid, Carbone, Rizzo, Baker.
Voting "No" None.
The motion carried. Resolution No. RDAP 2020-02 is adopted.
4. Consideration and Possible Action - Resolution No. RDAP 2020-03 - A
Resolution of the Development Authority of Pearland (DAP), accepting
the Financial Reports for the period ending August 31, 2019.
Boardmember Rizzo made the motion, seconded by Boardmember Carbone,
to adopt Resolution No. RDAP 2020-03.
Voting "Aye" Boardmembers Reid, Carbone, Rizzo, Baker.
Voting "No" None.
The motion carried. Resolution No. RDAP 2020-03 is adopted.
5. Consideration and Possible Action - Resolution No. RDAP 2020-04 - A
Resolution of the Development Authority of Pearland (DAP), accepting
the quarterly Investment Reports for the periods ending September 2019,
December 2019, March 2020, and June 2020.
Chair Reid made the motion, seconded by Boardmember Carbone, to adopt
Resolution No. RDAP 2020-04.
•
Voting "Aye" Boardmembers Reid, Carbone, Rizzo, Baker.
Voting "No" None.
The motion carried. Resolution No. RDAP 2020-04 is adopted.
6. Consideration and Possible Action- Resolution No. RDAP 2020-05 - A
Resolution of the Development Authority of Pearland (DAP), ratifying
checks 1184 through 1190 totaling $11,210.
Boardmember Carbone made the motion, seconded by Boardmember Baker,
to adopt Resolution No. RDAP 2020-05.
Voting "Aye" Boardmembers Reid, Carbone, Rizzo, Baker.
Voting "No" None.
•
Development Authority of Pearland Meeting Minutes-Sep 28 2020
The motion carried. Resolution No. RDAP 2020-05 is adopted.
7. Consideration and Possible Action - Resolution No. RDAP 2020-06 - a
resolution of the Development Authority of Pearland (DAP), Texas,
authorizing reimbursements to the City of Pearland in the amount of
$1,627,881 and Shadow Creek Retail LP, or its successor or assignee, in
the amount of$10,987,701 for a total amount of$12,615,582 to reimburse
developers for TIRZ infrastructure improvements.
Boardmember Baker made the motion, seconded by Boardmember Rizzo, to
adopt Resolution No. RDAP 2020-06.
Voting "Aye" Boardmembers Reid, Carbone, Rizzo, Baker.
Voting "No" None.
The motion carried. Resolution No. RDAP 2020-06 is adopted.
8. Development Authority of Pearland Input & Discussion.
The Board discussed the Letter Finance Agreements (LFAs).
V. ADJOURNMENT
Chair Reid adjourned the meeting at 4:41 p.m.
Minutes approved as submitted and/or corrected this_ ( day of4 -D., 2021
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TOM REID
CHAIR
ATTEST:
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ED BAKER
SECRETARY
Development Authority of Pearland Meeting Minutes-Sep 28 2020