2024-03-28 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, MARCH 28, 2024, 5:00 P.M.
I. CALL TO ORDER
The meeting was called to order at 5:01 p.m.
BOARD MEMBERS
Chair Jerry Koza
Vice Chair Michi Clay
Secretary Dena Hanks
Board Member Deen Bakthavatsalam
Board Member Rick Fernandez
Board Member Craig Slater
Board Member JW Washington
EX-OFFICIO MEMBERS
PEDC Matt Buchanan
City of Pearland Trent Epperson
City of Pearland Mayor Kevin Cole
Pearland Chamber of Commerce Jim Johnson
PEARLAND ECONCOMIC DEVELOPMENT STAFF MEMBERS
Melissa Cook
Roxanne Luna -Larsen
Brian Malone
Valerie Marvin
Mou Sarkar
CITY OF PEARLAND
Darrin Coker
Lawrence Provins
Kendra Murphy
Tracy Rohrbacher
Vance Wyly
Minutes of a Regular Meeting
March 28, 2024
Page 2
II. APPROVAL OF MINUTES
Secretary Hanks made a motion, seconded by Board Member Bakthavatsalam, to approve the minutes of
the Regular Meeting of February 22, 2024.
Motion Passed: 6 — 0
III. RECOGNITION: Mona Chavarria, Former Board Member, was unable to attend.
Vice Chair Clay arrived.
IV. PUBLIC COMMENTS: None
V. FINANCIAL REPORT
The January and February Monthly Financial Reports and the 1st Quarter FY2023-24 Investment Report
were presented.
Board Member Fernandez made a motion, seconded by Board Member Washington, to approve the
January and February 2024 Monthly Financial Report and the FY0223-24 First Quarter Investment Report.
Motion Passed: 7 - 0
VI. NEW BUSINESS
A. Professional Services Agreement with Pearland Chamber of Commerce for Management of the
Pearland Entrepreneurial Hub and Termination of Professional Services Agreement with The
Cannon Workspace, LLC
The Pearland Innovation Hub (PIH) Advisory Board recommends that the current Professional
Services Agreement (PSA) with The Cannon Workspace, LLC to manage the Pearland Innovation
Hub be discontinued and that a new contract be approved with the Pearland Chamber of
Commerce to manage the PIH beginning May 1, 2024, through September 30, 2025. The 17-
month contract is for $488,500.
Board Member Slater made a motion, seconded by Board Member Fernandez to postpone this
item to the April 25, 2024 Board meeting.
Motion Passed: 6 — 0
Abstained: Hanks
B. REPORT: Convention and Visitors Bureau Semi -Annual Update
Tracy Rohrbacher, Executive Director of the CVB gave the Semi -Annual Update.
No action taken.
C. Monthly Activity
Monthly Activity Report was reviewed.
No action taken.
The meeting went into Recess at 6:49 p.m.
Minutes of a Regular Meeting
March 28, 2024
Page 3
The meeting went into Executive Session at 6:59 p.m.
VII. 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—
#2106 - Development Agreement Amendment for Site Development Improvements at 1613 Main
Business Park
3. Section 551.087 — DELIBERATION REGARDING ECONOMIC DEVELOPMENT NEGOTIATIONS —
Project #2404
The Board closed Executive Session and Reconvened into Open Session at 7:17 p.m.
VIII. NEW BUSINESS CONTINUED
D. Deliberations regarding Economic Development Negotiations — Project #2106 - Development
Agreement Amendment for Site Development Improvements at 1613 Main Business Park
Board Member Washington made a motion, seconded by Board Member Bakthavatsalam, to
approve the President to enter into an amended development agreement with Prospect #2106,
or related entity, as discussed in Executive Session.
Motion Passed: 7 - 0
E. Deliberations regarding the Economic Development Negotiations — Project #2404
Board Member Fernandez made a motion, seconded by Vice Chair Clay, to approve the President
to negotiate and enter into a loan agreement with Prospect #2404 for an amount not to exceed
$300,000.
Motion Passed: 7 — 0
IX. ADJOURNMENT:
The meeting adjourned at 7:18 p.m.
Minutes approved as submitted and/or corrected this 25th day of April A.D., 2024.
ATTEST:
Secretary
2024.28.03 Board Meeting Minutes
Final Audit Report 2024-07-03
Created:2024-07-01
By:Roxanne Luna-Larsen (rlunalarsen@pearlandedc.com)
Status:Signed
Transaction ID:CBJCHBCAABAAOFRanjfdRJLY8OKV3W7cgCRqsAgB0iSD
"2024.28.03 Board Meeting Minutes" History
Document created by Roxanne Luna-Larsen (rlunalarsen@pearlandedc.com)
2024-07-01 - 7:57:58 PM GMT
Document emailed to Dena Hanks (dena@hanksdesigngroup.com) for signature
2024-07-01 - 7:58:00 PM GMT
Email viewed by Dena Hanks (dena@hanksdesigngroup.com)
2024-07-03 - 11:27:30 PM GMT
Document e-signed by Dena Hanks (dena@hanksdesigngroup.com)
Signature Date: 2024-07-03 - 11:27:47 PM GMT - Time Source: server
Agreement completed.
2024-07-03 - 11:27:47 PM GMT