Jul 18, 2022 Economic Development Corp. (Type A)

SO AT THIS TIME, WE'LL GET THE JULY 18TH MEETING OF THE 4A ECONOMIC DEVELOPMENT CORPORATION GOING ON THIS

[1. Call to Order]

[00:00:10]

[LAUGHTER] THIS APPEARS TO BE ONE OF THE COOLER AND MORE LIVABLE PLACES.

AND LET'S HOPE THAT THE POWER GRID HOLDS UP LONG ENOUGH TO GET SOME BUSINESS DONE TONIGHT.

FIRST ITEM ON OUR AGENDA IS TO CONSIDER APPROVAL OF MINUTES FROM THE JUNE 20TH MEETING.

[2A. Consider approval of minutes from the June 20, 2022 Economic Development Corp. Type A meeting. (Staff Contact: Amanda Campos, City Secretary)]

I MOVE TO APPROVE. I'LL SECOND. OKAY. A MOTION BY STANFORD SECOND BY GREEN ALL THOSE IN FAVOR.

AND THAT MOTION PASSES BY UNANIMOUS VOTE.

SECOND ITEM ON OUR AGENDA IS TO CONSIDER APPROVAL OF A RESOLUTION AMENDING THE 4A ECONOMIC DEVELOPMENT CORPORATION BUDGET FOR FISCAL YEAR 2021

[2B. Consider approval of a resolution amending the 4A Economic Development Corporation budget for fiscal year 2021-2022 by increasing appropriations in the 4A Economic Development fund in the amount of $5,000,000. (Staff Presenter: Martin Avila, Director of Finance)]

MR. MCCLENDON WE'D REQUEST THAT YOU ALSO READ INTO THE RECORD ITEM C, WE THINK THESE ITEMS ARE RELATED, SO WE'D LIKE TO DO.

SO ITEM 2C IS TO CONSIDER APPROVAL OF A RESOLUTION AUTHORIZING AN UNIMPROVED PROPERTY CONTRACT WITH JAMES W CROUCH AND KATHERINE CROUCH HALWES.

PURCHASING APPROXIMATELY 30 ACRES IN JOHNSON COUNTY, TEXAS.

THAT WILL BE PRESENTED BY ALEX PHILIPS, OUR ECONOMIC DEVELOPMENT DIRECTOR.

THANK YOU, PRESIDENT MCCLENDON AND BOARD MEMBERS.

THIS ITEM IS PRETTY MUCH TO START WHATEVER AGREEMENTS THERE ARE IN REGARDS TO THE CONTRACT, IT IS THE BUDGET AMENDMENT.

IT ALLOWS THE PROCESS AS PART OF THE APPROPRIATIONS GOING FORWARD.

AND SO THIS BUDGET AMENDMENT IS FOR $5 MILLION FOR ECONOMIC DEVELOPMENT ACTIVITY.

AND SO THAT IS WHAT THIS ITEM IS.

AND THE OPTIONS ARE TO APPROVE OR NOT APPROVE THIS AMENDMENT TO THE BUDGET AND STAFF RECOMMENDS APPROVAL TO THIS ITEM.

AND SO I'M GOING TO STOP THERE.

I'M GOING TO LET ALEX TAKE OVER.

AND THAT WAS THE FASTEST ITEM.

THANK YOU SO MUCH, GOOD EVENING BOARD MEMBERS AND PRESIDENT.

SO ALEX PHILIPS HERE FOR THIS CONTRACT ON LAND PURCHASE PROPERTY IS 30 ACRES OUT IN OUR TOD THE CITY OWNS TWO ADDITIONAL TRACTS ADJACENT TO THE PROPERTY THAT WOULD ADJOINED THIS PROPERTY TO THE 30 ACRES EARNEST MONEY OF 100,000 WITH 5000 BEING NON REFUNDABLE.

IF WE DID CANCEL THE CONTRACT DUE DILIGENCE TIME IS 30 DAYS FOR US TO PERFORM A PHASE ONE ENVIRONMENTAL SURVEY AND THEN 30 DAYS WITHIN 30 DAYS TO CLOSE AFTER THAT DUE DILIGENCE PERIOD, THE LAND PURCHASE WOULD PROVIDE AN OPPORTUNITY FOR FUTURE REGIONAL AND CORPORATE HEADQUARTERS AS WELL AS ANY OTHER COMPATIBLE DEVELOPMENT USES IN THE AREA.

PURCHASE OF THIS TRACK IN THE TOD WILL REMOVE THE ABILITY FOR MULTI-FAMILY DEVELOPMENT UP TO 1800 UNITS.

SO THE OPTIONS TONIGHT IS TO APPROVE THE RESOLUTION AUTHORIZING THE UNIMPROVED CONTRACT WITH THE PARTIES OR DENY THE RESOLUTION.

SO I THINK I'M HERE TO ANSWER ANY KIND OF QUESTIONS.

IF NOT, I THINK TAKE UP MARTIN'S ITEM FIRST AND THEN THIS ONE.

ALL RIGHT. ANY QUESTIONS FROM MEMBERS? IF THERE ARE NO QUESTIONS THEN I'LL TAKE A MOTION.

I HAVE NONE MYSELF. IT'LL BE TWO MOTIONS.

YES, YOU'RE CORRECT. I NEED A MOTION ON ITEM B SO THAT WE HAVE THE BUDGET TO DO THE PURCHASE.

AND THEN ITEM C, SO A MOTION ON ITEM 2B.

THEN I MOVE TO APPROVE ITEM B.

2 B. ALL RIGHT 2B.

SORRY. I'LL SECOND THAT.

OKAY. MOTION BY JOHNSON SECOND BY STANFORD.

ALL THOSE IN FAVOR, PLEASE SIGNIFY.

ALL RIGHT, THAT MOTION PASSES BY UNANIMOUS VOTE.

SO NOW WE NEED A MOTION ON ITEM 2C TO AUTHORIZE THE PURCHASE OF THE PROPERTY OR THE SIGNING OF THE CONTRACT.

[2C. Consider approval of a resolution authorizing an unimproved property contract with James W. Crouch and Katherine Crouch Halwes purchasing approximately 30 acres in Johnson County, Texas. (Staff Contact: Alex Philips, Economic Development Director)]

FOUR 2C APPROVAL.

SECOND. OK MOTION BY STANFORD SECOND BY PAYNE FOR APPROVAL OF THE CONTRACT.

ALL THOSE IN FAVOR PLEASE.

ALL RIGHT. AND THAT MOTION ALSO PASSES BY UNANIMOUS VOTE.

THANK YOU, GUYS. ALL RIGHT.

IS THERE A NEED FOR EXECUTIVE SESSION? NO, SIR. WITH WITH NO NEED FOR EXECUTIVE SESSION THAT IS ALL THE BUSINESS BEFORE THE 4A ECONOMIC DEVELOPMENT CORPORATION THIS EVENING.

AND WE WILL ADJOURN THE MEETING AT WHATEVER TIME THE 5:07 SIR.

THANK YOU. [LAUGHTER]

* This transcript was compiled from uncorrected Closed Captioning.