HomeMy WebLinkAbout2024-10-24 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 24, 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 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
Victor Brownlees
Lawrence Provins
Kendra Murphy
Melissa Saxton
Minutes of a Regular Meeting
October 24, 2024
Page 2
II. APPROVAL OF MINUTES
Secretary Hanks made a motion, seconded by Board Member Washington, to approve the minutes of the
Regular Meeting of September 26, 2024.
Motion Passed: 6 — 0
III. PUBLIC COMMENTS
None
IV. NEW BUSINESS
Vice Chair Clay arrived.
A. Professional Services Agreement for Industrial Drive Reconstruction with AGCM for Construction
Management Services
Proposed is a professional service agreement with AGCM to oversee the reconstruction of
Industrial Drive west of SH35 and installation of various public infrastructure items such as
adding sidewalks, replacing existing water line and adding street lighting.
Board Member Fernandez made a motion, seconded by Board Member Washington, to consider
and approve for the President to enter into a Professional Services Agreement with AGCM for
Industrial Drive Reconstruction for construction management services in an amount of $183,935.
Motion Passed: 7 - 0
Amendments to the FY25 Budget
Amendment to the current FY25 Budget that began October 1 to carryover unspent funds from
items budgeted last fiscal year to be reflected in the FY25 budget. The amendments will change
revenue from $16,599,677 to $19 939,677 for a total increase of $3 340,000 which represents
reimbursements from Lower Kirby that will now be expected this fiscal year. The amendments
will also change our expenditures from $42.6M to $46M for a total increase of $3,349,200 which
primarily represents ongoing infrastructure projects including carry overs of $1.2M for FM518
Utility Relocation design for the eastern segment and $1,270,000 for constructing Levey Lane and
Beltway 8 waterline.
Board Member Slater made a motion, seconded by Secretary Hanks, to consider and approve
amending the FY25 budget to reflect total revenue of $19,939 677 and expenditures of
$46,026,897.
Motion Passed: 7 - 0
C. Pearland Chamber of Commerce FY24 4th Quarter BizConnect Report
No action taken.
D. Monthly Activity
Monthly Activity Report was reviewed.
No action taken.
The meeting went into Recess at 5:55 p.m.
Minutes of a Regular Meeting
O ctober 24, 2024
Page 3
The meeting reconvened and went into Executive Session at 6:02 p.m.
V. 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 #2409
3. Section 551.087 — DELIBERATION REGARDING ECONOMIC DEVELOPMENT NEGOTIATIONS —
Project #2410
4. Section 551.087 — DELIBERATION REGARDING ECONOMIC DEVELOPMENT NEGOTIATIONS —
Project #2414
The Board closed Executive Session and reconvened into Open Session at 7:01 p.m.
✓ I. NEW BUSINESS CONTINUED
E. Deliberations regarding Economic Development Negotiations — Project #2409
Board Member Washington made a motion, seconded by Vice Chair Clay, to approve the
President to negotiate and enter into a loan agreement with Prospect #2409 for an amount not
to exceed $530,500.
Motion Passed: 7 - 0
F. Deliberations regarding Economic Development Negotiations — Project #2410
Board Member Fernandez made a motion, seconded by Vice Chair Clay, to approve the President
negotiate and enter into a loan agreement with Prospect #2410 for an amount not to exceed
$180,000.
Motion Passed: 7 — 0
G. Deliberations regarding Economic Development Negotiations — Project #2414
No action taken.
✓ II. ADJOURNMENT:
The meeting adjourned at 7:03 p.m.
Minutes approved as submitted and/or corrected this 12th day of December A.D., 2024.
Minutes of a Regular Meeting
October 24, 2024
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ATTEST:
Sec .` ary