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2017_01.24 EDC MinutesECONOMIC DEVELOPMENT CORPORATION BOARD OF DIRECTORS - REGULAR MEETING MINUTES January 24, 2017 7:00 P.M. I. CALL TO ORDER President Mundy called the meeting to order at 7:04 p.m. II. ROLL CALL Present: Michael Johnson, Adrienne Kay, Rebecca Carlton, Robert Mundy, Pat Turner, Ronald Whitley, Mark Yeary Absent: None Staff Present: Bob Hart, Jack Thompson, Krystal Crump, and Leslie Galloway III. MINUTES APPROVAL A. Consider approval of the minutes from the November 22, 2016 regular meeting Motion To approve the November 22, 2016 Economic Development Corporation meeting minutes. Action Approve, Moved By Mark Yeary, Seconded By Rebecca Carlton Motion passed Unanimously There was not a December 2016 Economic Development Corporation Board Meeting. IV. REGULAR ITEMS A. Review and accept the KEDC Financial Report for November 2016 Finance Director Krystal Crump provided a short overview of the November and December 2016 Financial Reports for the Economic Development Corporation. She noted that there was little activity. Krystal informed the Board that staff will be going out for bids within the next few months for roof repairs at TownCenter, Building One. In closing, she stated that December revenues were down; however, January revenues were the highest in the past five years. Motion To approve the November 2016 Finance Report for the Economic Development Corporation. Action Approve, Moved By Adrienne Kay, Seconded By Michael Johnson Motion passed Unanimously B. Consider Approval of Hotel Occupancy Agreement Director Bob Hart reminded the Board that a few years back, City Council approved an ordinance adopting a hotel /motel tax. He added that the ordinance states that the Economic Development Corporation (EDC) will manage those funds; therefore, the EDC will need to prepare an agreement. He stated that the contract in their packet shows that the EDC will be responsible for the administration of the hotel /motel tax. Motion To approve the Hotel Occupancy Tax Delegation Agreement. Action Approve, Moved By Pat Turner, Seconded By Ronald Whitley. Motion passed Unanimously C. Project Review Director Bob Hart provided a status review of ongoing and upcoming Economic Development Corporation projects and activities. V. EXECUTIVE SESSION President Mundy recessed into executive session at 8:07 p.m. A. The Economic Development Corporation will meet in closed session pursuant to Section 551.072 of the Texas Government Code to deliberate the purchase, lease, or value of real property 1. Hospitality Project 2. Oak Crest Redevelopment B. The Economic Development Corporation will meet in closed session pursuant to Section 551.074 of the Texas Government Code to deliberate the appointment, employment, evaluation, reassignment, duties, discipline, or dismissal of a public officer or employee. 1. Discuss selection of and reassignment of duties for an Interim Executive Director for the Economic Development Corporation VI. RECONVENE INTO OPEN SESSION, AND TAKE ACTION NECESSARY PURSUANT TO EXECUTIVE SESSION, IF NEEDED President Mundy reconvened into open session at 8:54 p.m. A. Appoint an Economic Development Director to assist the Interim Executive Director for the Economic Development Corporation Motion To appoint Orasi Development, LLC as Economic Development Director. Action Approve, Moved By Adrienne Kay, Seconded By Mark Yeary. Motion passed Unanimously B. Consider approval of three hospitality related contracts involving a hotel President Mundy stated that Paragraph 9a: The office of the title company is not stated as it says it should be. He requested that this administrative change be made to the contract. Motion To authorize the Economic Development Corporation President, Robert Mundy to sign a 380 Agreement with Karmali Holdings, Inc. Action Approve, Moved By Adrienne Kay, Seconded By Ronald Whitley. Motion passed Unanimously C. Consider approval of contract to sell a portion of Oak Crest land No action was taken. VII. ADJOURNMENT Motion To adjourn. Action Adjourn, Moved By Michael Johnson, Seconded By Ronald Whitley. Motion passed Unanimously The meeting was adjourned at 8:55 p.m. o ®e ®goumfill, I' K ..... 4 e e ATTEST: > 4y °•....... % #8 1 11 10 0 % o N�(` N Dep ty City Sycretary Kathy E. Moore APPROVED: