01.17.2012 EDC MinutesECONOMIC DEVELOPMENT CORPORATION
MINUTES
BOARD OF DIRECTORS - REGULAR MEETING
January 17, 2012
CITY HALL COUNCIL CHAMBERS, 405 MUNICIPAL DRIVE
I. CALL TO ORDER
President Mundy called the meeting to order at 7:19pm.
II. ROLL CALL
Present: Robert Mundy, Pat Turner, Donnie Graham, Mark Yeary, Darrell Erwin.
Absent: Rebecca Mowell, Beverly Hayes.
Staff Present: Bob Hart, Sakura Dedrick, Jack Thompson from Orasi Development.
Ill. MINUTES APPROVAL
A. Discuss and consider approval of meeting minutes from the November 151h, 2011 regular meeting.
Motion to approve the minutes as presented was made by Darrell Irwin, seconded by Donnie Graham.
Motion passed 5 -0.
IV. REGULAR ITEMS
A. Review KEDC Financial Report.
Sakura Dedrick review budget and sales tax information.
A motion to approve the financial report as presented was made by Pat Turner, seconded by Mark
Yeary. The motion passed 5 -0.
V. STAFF ANNOUNCEMENTS /REPORTS
A. Updates from the Executive Director, Orasi Development, and the Kennedale Chamber of
Commerce.
Bob Hart discussed the Dollar General lease renewal next steps for the old chamber of commerce
building.
1. Triple Open House on Saturday, January 28th, 2012.
2. Bloxom Park Update
3. Green Ribbon Grant Program
4. Pennington Restaurant
5. Tarrant county staff meeting relative to economic development
Bob Hart noted that recent discussing with the county had focused on tax increment financing,
tax increment reinvestment zones, and the Sublett Road extension.
VI. EXECUTIVE SESSION
President Mundy closed the regular meeting and went into executive session at 7:52pm.
A. The Economic Development Corporation will meet in closed session pursuant to Section 551.072 of
the Texas Government Code to deliberate the purchase, sale, exchange, lease, or value of real
property.
1. Acquisition of various properties from Williams Estate totaling approximately 5 acres.
B. The Economic Development Corporation will meet in closed session pursuant to Section 551.087 of
the Texas Government Code to deliberate the offer of a financial or other incentive to a business
project with which the city is conducting economic development negotiations.
1. Potential Texas Leverage Fund use by selected businesses
VII. RECONVENE INTO OPEN SESSION, AND TAKE ACTION NECESSARY PURSUANT TO
EXECUTIVE SESSION, IF NEEDED
President Mundy reconvened into open session at 9:24pm.
VIII. ADJOURNMENT
The next regular meeting will be held on February 21, 2011.
A motion to adjourn was made by Mark Yeary, seconded by Donnie Graham. The motion passed 5 -0.
The meeting was adjourned at 9:25pm.
ATTEST: ' 1
ra
Amethyst G. Ci o, City Secretary
APPROVED:
Rq ert Mundy, Presid t
405 Municipal Drive, Kennedale, TX 76060 1 Telephone: 817.985.2102 1 Fax: 817 - 478 -7169