2024-08-22 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, AUGUST 22, 2024, 5:00 P.M.
I. CALL TO ORDER
The meeting was called to order at 5:03 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
EX-OFFICIO MEMBERS
PEDC Matt Buchanan
City of Pearland Trent Epperson
City of Pearland Mayor Kevin Cole
Pearland Chamber of Commerce Jim Johnson
PEARLAND ECONOMIC DEVELOPMENT STAFF MEMBERS
Jess Byerly
Melissa Cook
Roxanne Luna -Larsen
Brian Malone
Valerie Marvin
Mou Sarkar
CITY OF PEARLAND
Darren Coker
Lawrence Provins
Kendra Murphy
Vance Wyly
Ron Fraser
Minutes of a Regular Meeting
August 22, 2024
Page 2
II. APPROVAL OF MINUTES
Secretary Hanks made a motion, seconded by Board Member Fernandez, to approve the minutes of the
Regular Meeting of June 27, 2024.
Motion Passed: 6 — 0
III. PUBLIC COMMENTS
None
IV. FINANCIAL REPORT
The June and July 2024 Financial Report and FY23 Audit Report was presented.
Board Member Fernandez made a motion, seconded by Board Member Bakthavatsalam, to approve the
June and July 2024 Financial Reports and FY23 Audit Report.
Motion Passed: 6 - 0
V. NEW BUSINESS
A. FY2024 Excuse the absence of Vice -Chair Clay from the June 27, 2024 Meeting
Secretary Hanks made a motion, seconded by Board Member Fernandez, to approve the absence
of Vice -Chair Clay from the June 27, 2024 Meeting.
Motion Passed: 6 - 0
B. Economic Alliance Houston Port Region Annual Report and Contract
Chad Burke, President and CEO fo the Alliance, presented their annual report and presented a
three-year Economic Development Service Agreement with the Alliance for a period beginning
September 1, 2024 ending August 31, 2027 for $10,000 per year not to exceeding $30,000.
Motion Passed: 6 — 0
C. Pearland Chamber of Commerce FY24 Third Quarter BizConnect Report.
Jim Johnson, President and CEO of the Pearland Chamber, presented the Third Quarter
BizConnect Report
No action taken.
Because of a conflict of interest, Secretary Hanks recused herself and left the room for the following item.
D. Business Retention and Expansion Contract Renewal with the Pearland Chamber of Commerce
Renewal of the Business Retention and Expansion Contract with the Pearland Area Chamber for
FY25 was presented. The contract is for twelve months, starting October 1, 2024 through
September 30, 2025 with a 4% increase from the current contract for a total not to exceed
$140,000.
Board Member Slater made a motion, seconded by Board Member Bakthavatsalam, to approve
the President to enter into a contract for services with the Pearland Area Chamber for business
retention and expansion assistance for an amount not to exceed $140,000.
Minutes of a Regular Meeting
August 22, 2024
Page 3
Motion Passed: 5 — 0
Abstained. Hanks
Secretary Hanks returned to the meeting.
E General Services Contract for McHard Bridge Aesthetic Restoration with Apex Prosealers, LLC.
Proposed was a General Services Contract for the aesthetic restoration of the McHard Bridge
inclucding power washing, painting and sealing.
Board Member Fernandez made a motion, seconded by Secretary Hanks, to approve the
President to enter into a general service contract with Apex Prosealers, LLC. In the amount of
$75,000.
Motion Passed: 6 — 0
F. Proposed FY25 Budget — Revision
After City Council's review of the FY25 PEDC Budget approved, by the Board in May 2024, a
revision to the budget is proposed. Budget Revision #1, would remove the issuance of $4.7M in
bond proceeds.
Board Member Bakthavatsalam made a motion, seconded by Board Member Slater, to approve
the revision of the FY25 budget to remove $4.7M in bond proceeds to reflect revenue of
$16,599,677 and expenditures of $42,677,697.
Motion Passed: 6 - 0
Vice Chair Clay left the meeting.
G. Monthly Activity
Monthly Activity Report was reviewed.
No action taken.
The meeting went into Recess at 6.17 p.m.
The meeting went into Executive Session at 6:27 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
Project #2407
The Board closed Executive Session and Reconvened into Open Session at 7:05 p.m.
Minutes of a Regular Meeting
August 22, 2024
Page 4
VII. NEW BUSINESS CONTINUED:
H. Deliberations regarding Economic Development Negotiations - #2407
Board Member Fernandez made a motion, seconded by Board Member Slater, to approve the
President to negotiate and enter into a loan agreement with Prospect #2407 for an amount not
to exceed $195,000.
Motion Approved 5 -0
VIII. ADJOURNMENT:
The meeting adjourned at 7:21 p.m.
Minutes approved as submitted and/or corrected this 26th day of September A D , 2024.
ATTEST: CAAA'r-INIOtr4- •
Secretary
Ch a��