HomeMy WebLinkAbout20250116 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, JANUARY 16, 2025 5:00 P.M
I. CALL TO ORDER
The meeting was called to order at 5:01 p.m.
BOARD MEMBERS
Chair Michi Clay
Vice Chair Dena Hanks
Secretary JW Washington
Board Member Deen Bakthavatsalam
Board Member Rick Fernandez
Board Member Jerry Koza
Board Member Craig Slater
EX-OFFICIO MEMBERS
PEDC Matt Buchanan
City of Pearland Trent Epperson
City of Pearland Mayor, Kevin Cole
Pearland Chamber Jim Johnson
PEARLAND ECONCOMIC DEVELOPMENT STAFF MEMBERS
Melissa Cook
Roxanne Luna -Larsen
Brian Malone
Valerie Marvin
Jonathan Pollard
Mou Sarkar
CITY OF PEARLAND
Darin Coker
Kendra Murphy
Lawrence Provins
Vance Wyly
Minutes of a Regular Meeting
January 16, 2025
Page 2
II. APPROVAL OF MINUTES
Board Member Washington made a motion, seconded by Board Member Fernandez, to approve the
minutes of the Regular Meeting of December 16, 2024.
Motion Passed: 6 — 0
III. PUBLIC COMMENTS
Vice President Valerie Marvin introduced new employee, Development Manager Jonathan Pollard.
Vice Chair Hanks arrived.
IV. FINANCIAL REPORT
November 2024 Financial Report and FY24 4th Quarter Investment Report
Board Member Koza made a motion, seconded by Board Member Fernandez, to approve November 2024
Financial Report and FY24 4th Quarter Investment Report.
Motion Passed: 7 - 0
V. NEW BUSINESS
A. Excuse the absences of Koza and Hanks from the rescheduled Regular meeting on December 19,
2024.
Board Member Bakathalasam made a motion, seconded by Board Member Fernandez to Excuse
the absences of Koza and Hanks from the rescheduled Regular meeting on December 19, 2024.
Motion Passed: 7 — 0
B. 1st Quarter FY25 BizConnect Update
Jim Johnson, President and CEO of the Pearland Chamber, provided an update and presentation.
No action taken.
C. Public Hearing - Sales Tax Proceeds will be used to relocate water and sanitary sewer utilities
along FM518 from SH288 to Old Chocolate Bayou
The Public Hearing was opened at 5:19 p.m. There were no public comments and the hearing
was closed at 5:20 p.m.
D. Reimbursement Agreement for FM518/ Broadway Reconstruction — Phase I Water/ Sanitary
Sewer Relocation Construction with the City of Pearland
Vice Chair Hanks made a motion, seconded by Secretary Washington, to approve the Chair to
execute a reimbursement agreement with the City of Pearland to fund the Phase I Water and
Sanitary Sewer Utility Relocation Construction for FM 518/Broadway Reconstruction in an
amount of $5,342,282 or the actual cost.
Motion Passed: 7 - 0
Minutes of a Regular Meeting
January 16, 2025
Page 3
E. Monthly Activity
Monthly Activity Report was reviewed.
No action taken.
The meeting went into went into Executive Session at 6:00 p.m. after a brief recess.
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 —
Prospect #2205
3. Section 551.087 — DELIBERATION REGARDING ECONOMIC DEVELOPMENT NEGOTIATIONS
Project #2300
The Board closed Executive Session and reconvened into Open Session at 6:28 p.m.
VII. NEW BUSINESS CONTINUED
F. Deliberations regarding Economic Development Negotiations — Project #2205
Board Member Slater made a motion, seconded by Secretary Washington, to approve the
President to negotiate a close out of loan agreement for Project #2205 as discussed in Executive
Session.
Motion Passed: 7 - 0
G. Deliberations regarding Economic Development Negotiations — Project #2300
Board Member Koza made a motion, seconded by Board Member Fernandez, to recommend to
City Council the amendment to the Development Agreement as discussed in Executive Session
for project #2300.
Motion Passed: 7 — 0
VIII. ADJOURNMENT:
The meeting adjourned at 6:29 p.m.
Minutes approved as submitted and/or corrected this 20th day of February A.D., 2025.
ATTEST:
Chair
Secretary