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HomeMy WebLinkAboutCDCpkt2011-03-03f � / .. / \ � March % 2011 Meeting Packet / AGENDA REGULAR MEETING OF ANNA COMMUNITY DEVELOPMENT CORPORATION March 3, 2011 of 4:00 P.M.' COMMUNITY ANNA CITY HALL ADMINISTRATION BUILDING, oanCORFoft 111 N. POWELL PKWY., ANNA, TEXAS The Anna Community Development Corporation will conduct its regular meeting at 4:00 P.m.' on March 3, 2011, at the Anna City Hall Administration Building, 111 N. Powell Parkway, to consider the following items: 1. Call to Order. ' 0' C( I� 2. Roll Call and Establishment of Quorum. 1) 1)t2mA- 3. Invocation and Pledge. 4. Discussion regarding the submission of the restated certificate of incorporation to the Secretary of State. 5. Public hearing: To consider public comment regarding a project including an expenditure in the amount of $99,900 in the form of a loan to Image Vision Labs ("Recipient") to assist with the Recipient's operating expenses necessary for the purpose of expanding the operations of Recipient's software business and the expansion of business development within the city (the "Project"). The Project will be financed 46 from a grant the CDC was awarded by the USDA. V t tn, of_4� "l 6. Consider/Discuss/Action regarding approving ar authorizing the execution of a loan agreem nt, pro iss y note, an securl� agreement with Image Vision Labs. �oYi/v(c�e �hOL 7. CLOSED SESSION (exceptions): a. Deliberate regarding the purchase, exchange, lease or value of real property. (Tex. Gov't Code §551.072); b. Consult with legal counsel on matters in which the duty of the attorney to the governmental body under the Texas Disciplinary Rules of Professional Conduct of the State Bar of Texas clearly conflicts with Chapter 551 of the Government Code (Tex. Gov't Code §551.071); c. Discuss or deliberate Economic Development Negotiations: ADDITIONAL NOTICE REGARDING MEETING TIME: In the event that the Anna Economic Development Corporation meets at the same time and place scheduled for this meeting, then this meeting will be delayed and will begin immediately after the conclusion of the meeting of the Anna Economic Development Corporation. IMPORTANT LEGAL NOTICE: The Corporation may vote and/or act upon each of the items listed in this agenda. The Corporation reserves the right to retire into executive session conceming any of the items listed on this agenda, whenever it Is considered necessary and legally justified under the Open Meetings Act. Disabled persons who want to attend this meeting and who may need assistance should contact the City Secretary at 972-924-3325 two working days prior to the meeting so that appropriate arrangements can be made. (1) To discuss or deliberate regarding commercial or financial information that the Board of Directors has received from a business prospect that the Board of Directors seeks to have locate, stay, or expand in or near the territory of the City of Anna and with which the Board is conducting economic development negotiations; or (2) To deliberate the offer of a financial or other incentive to a business prospect described by subdivision (1). (Tex. Gov't Code §551.087) 8. Review of bills and fiscal year 2010-11 budget. 9. Consider/Discuss/Action regarding approving the regular meeting minutes from November 4, 2010, January 13, 2011 and February 3,/,2011. 10. Adjourn. C vYw e,SC�C�' Ut, V O( This is to ce'A �hEitl I, Jessica Perkins, Assistant to the City Manager, posted this agenda at a place readily accessible to the public at the Anna Cutty Hall and on the City Hall bulletin board at or before 4:00 .m., February 2O -F y�-✓`- es ica Perkins, Adistant to the City Manager IMPORTANT LEGAL NOTICE: The Corporation may vote and/or act upon each of the items fisted in this agenda. The Corporation reserves the right to retire Into executive session concerning any of the items listed on this agenda, whenever It is considered necessary and legally lustmed under the Open Meetings Act. Disabled persons who want to attend this meeting and who may need assistance should contact the City Secretary at 972-9243325 two working days prior to the meeting so that appropriate arrangements can be made. DEVELOPMENT CORPORATION Meeting: March 3, 2011 Budgeted Amount: N/A Item No. I Anna Community Development Corporation Agenda Staff Report AGENDA SUBJECT: Call to Order SUMMARY: STAFF RECOMMENDATION: Staff Contact: Jessica Perkins Exhibits: Yes X No COMMUNITY DEVELOPMENT CORPORATION Meeting: March 3, 2011 Budgeted Amount: N/A Item No. 2 Anna Community Development Corporation Agenda Staff Report Staff Contact: Jessica Perkins Exhibits: Yes X No AGENDA SUBJECT: Roll Call and Establishment of Quorum. SUMMARY: STAFF RECOMMENDATION: DEVELOPMENT CORPORATION Meeting: March 3, 2011 Budgeted Amount: N/A Item No. 3 Anna Community Development Corporation Agenda Staff Report AGENDA SUBJECT: Innovation and Pledge. SUMMARY: STAFF RECOMMENDATION: Staff Contact: Jessica Perkins Exhibits: T Yes X No DEVELOPMENT CORPORATION Meeting: March 3.2011 Budgeted Amount: n/a Item No. 4 Anna Community Development Corporation Agenda Staff Report Staff Contact: Jessica Perkins Exhibits: Yes X No AGENDA SUBJECT: Discussion regarding the submission of the restated certificate of incorporation to the Secretary of State. SUMMARY: Our application to submit the restated certificate of formation was rejected from the State. They said the form we used was the incorrect form to file a restated certificate, and at this time they do not have a form for us to use. Our attorney has been communicating with the State to resolve the matter. STAFF RECOMMENDATION: n/a Item No. 5 Anna Community Development Corporation Agenda Staff Report COMMUNITY DEVELOPMENT CORPORATION Meeting: March 3 2011 Budgeted Amount: n/a AGENDA SUBJECT: Public Hear: Staff Contact: Jessica Perkins Exhibits: Yes X No To consider public comment regarding a project including an expenditure in the amount of $99,900 in the form of a loan to Image Vision Labs ("Recipient") to assist with the Recipient's operating expenses necessary for the purpose of expanding the operations of Recipient's software business and the expansion of business development within the city (the "Project"). The Project will be financed from a grant the CDC was awarded by the USDA SUMMARY: The public hearing is required prior to undertaking a project for business expansion by the CDC. STAFF RECOMMENDATION: Staff recommends you hold the public hearing. Item No. 6 Anna Community Development Corporation Agenda Staff Report Meeting: March 3. 2011 Staff Contact: Jessica Perkins Budgeted Amount: n/a Exhibits: X Yes —No AGENDA SUBJECT: Consider/Discuss/Action regarding approving a resolution authorizing the execution of a loan agreement, promissory note, and security agreement with Image Vision Labs. SUMMARY: In 2009 the Anna CDC was the recipient of a grant from the USDA in the amount of $99,900. The grant funds were given for the purpose of establishing a revolving loan fund to support small, local businesses. For the past several months the CDC and IVL have been working on a loan agreement for the full amount of the grant funds ($99,900). The entities have come to terms and want to proceed with the execution of the loan. STAFF RECOMMENDATION: Staff recommends you adopt the resolution. ANNA COMMUNITY DEVELOPMENT CORPORATION RESOLUTION NO. A RESOLUTION OF THE ANNA COMMUNITY DEVELOPMENT CORPORATION APPROVING A PROJECT TO PROMOTE NEW OR EXPANDED BUSINESS DEVELOPMENT, AUTHORIZING THE EXPENDITURE OF FUNDS FOR THE PROJECT, AND DIRECTING PUBLICATION OF NOTICE OF THE PROJECT AND NOTICE OF PUBLIC HEARING, ALL SUBJECT TO APPROVAL OF THE CITY COUNCIL OF THE CITY OF ANNA, TEXAS WHEREAS, the Board of Directors of the Anna Community Development Corporation (the "CDC"), created by the City of Anna, Texas (the "City"), in accordance with ArtICIE 5190.6, V.A.T.C.S., Section 4B, and now operating under Texas Local Government Code, Chapter 505 (the "Act"), has determined that it is advisable and in the best interests of the CDC to give notice of the intention of the CDC to undertake, and to call a public hearing on, the following project(s): an expenditure in the amount of $99,900 in the form of a loan to Image Vision Labs ("Recipient") to assist with the Recipient's operating expenses necessary for the purpose of expanding the operations of Recipient's software business and the expansion of business development within the city (the "Project") The Project will be financed from a grant the CDC was awarded by the USDA; and, WHEREAS, the CDC desires to authorize the expenditure of funds of up to $99,900 under a project and loan agreement with the Recipient for the funding of the Project, subject to certain conditions as set forth in this resolution; and, WHEREAS, the CDC's funding of the Project is subject to the approval of the Project by the City Council of the City of Anna ("City Council"); and, WHEREAS, the CDC Board of Directors has investigated and determined that providing the funding for the Project, subject to the aforementioned conditions, is in the CDC's best interest and will promote new and expanded business development in the City; and, WHEREAS, it is hereby officially found and determined that the meeting at which this resolution was passed, was open to the public and public notice of the time, place, and purpose of said meeting was given, all as required by Chapter 551, Texas Government Code; NOW THEREFORE, BE IT RESOLVED BY THE ANNA COMMUNITY DEVELOPMENT CORPORATION, THAT: CDC OF ANNA, TEXAS RESOLUTION NO. PAGE 1 OF 2 Section 1. Recitals Incorporated The recitals set forth above are incorporated herein for all purposes as if set forth in full. Section 2. Approval of Project and Authority to Expend Funds The CDC approves the Project and authorizes the expenditure of funds of up to $99,900 in the form of a loan to the Recipient for the expansion of Recipient's business. Said expenditure by the CDC will be subject to: (1) City Council approval by resolution after the City Council gives the resolution at least two separate readings; and (2) the full execution of a project agreement between the CDC and the Recipient, and any necessary loan agreement(s) to be executed after City Council consideration and approval of the Project, and subject to approval as to the substance of said agreements by the CDC's Chief Administrative Officer and approval as to the form of said agreements by the CDC's legal counsel. Section 3. Form of Notice Attached hereto as Exhibit A is a form of Notice of Project and Notice of Public Hearing ("Notice"), which shall be published without unnecessary delay after the adoption of this resolution, in substantially the same form and substance as attached hereto. Section 4. Publication of Notice Said Notice shall be published in a newspaper, as defined in Texas Government Code Sec. 2051.044, of general circulation in the area of the City of Anna, Texas. Section 5. Public Hearing A public hearing shall be held on the proposed Project on the 3rd day of March, 2011 at four o'clock p.m., at the Anna City Hall Administration Building, 111 N. Powell Parkway, Anna, Texas. PASSED AND APPROVED by the Anna Community Development Corporation this day of 12011. APPROVED: Sandra Delgado, CDC President ATTEST: Sherilyn Godfrey, CDC Secretary CDC OF ANNA, TEXAS RESOLUTION NO. PAGE 2 OF 2 ANNA COMMUNITY DEVELOPMENT CORPORATION NOTICE OF PROJECT AND NOTICE OF PUBLIC HEARING NOTICE IS HEREBY GIVEN that the Anna Community Development Corporation (the "CDC"), a non-profit corporation created pursuant to the Development Corporation Act of 1979, Article 5190.6, Vernon's Texas Civil Statutes, Section 413, and now operating under Texas Local Government Code, Chapter 505 (the "Act"), will hold a public hearing at four o'clock p.m. on the 3rd day of March, 2011, at the Anna City Hall Administration Building, 111 N. Powell Parkway, Anna, Texas, on a project including an expenditure in the amount of $99,900 in the form of a loan to Image Vision Labs ("Recipient") to assist with the Recipient's operating expenses necessary for the purpose of expanding the operations of Recipient's software business and the expansion of business development within the city (the "Project"). The Project will be financed from a grant the CDC was awarded by the USDA.. The costs of the Project are estimated not to exceed $99,900. All interested persons are invited to attend the public hearing and speak for or against the undertaking of the proposed Project. ANNA COMMUNITY DEVELOPMENT CORPORATION EXHIBIT A Item No. 7 Anna Community Development Corporation Agenda Staff Report Meeting: March 3, 2011 Staff Contact: Jessica Perkins Budgeted Amount: n/a Exhibits: Yes _X—No AGENDA SUBJECT: CLOSED SESSION (exceptions): a. Deliberate regarding the purchase, exchange, lease or value of real property. (Tex. Gov't Code §551.072); b. Consult with legal counsel on matters in which the duty of the attorney to the governmental body under the Texas Disciplinary Rules of Professional Conduct of the State Bar of Texas clearly conflicts with Chapter 551 of the Government Code (Tex. Gov't Code §551.071); c. Discuss or deliberate Economic Development Negotiations: (1) To discuss or deliberate regarding commercial or financial information that the Board of Directors has received from a business prospect that the Board of Directors seeks to have locate, stay, or expand in or near the territory of the City of Anna and with which the Board is conducting economic development negotiations; or (2) To deliberate the offer of a financial or other incentive to a business prospect described by subdivision (1). (Tex. Gov't Code §551.087) SUMMARY: n/a STAFF RECOMMENDATION: n/a Item No. 8 Anna Community Development Corporation Agenda Staff Report Meeting: March 3, 2011 Staff Contact: Jessica Perkins Budgeted Amount: n/a Exhibits: X_Yes No AGENDA SUBJECT: Review of bills and fiscal year 2010-11 budget. SUMMARY: n/a STAFF RECOMMENDATION: n/a COMMUNITI DEVELOPMENT CORPORATION Meeting: March 3, 2011 Budgeted Amount: n/a Item No. 9 Anna Community Development Corporation Agenda Staff Report Staff Contact: Jessica Perkins Exhibits: _X Yes No AGENDA SUBJECT: Consider/Discuss/Action regarding approving the regular meeting minutes from November 4, 2010, January 13, 2011 and February 3, 2011. lupi ,�311M. STAFF RECOMMENDATION: Staff recommends you approve the minutes. The Community Development Corporation ("CDC") of the City of Anna met at 4:00 p.m., Thursday, November 4, 2010, at the Anna City Hall Administration Building, 111 North Powell Parkway (Hwy. 5), Anna, Texas. Call to Order Connie Stump, Vice -President, called the meeting to order and the following items were presented to the Board for its consideration. 2. Roll Call and Establishment of Quorum. Directors in attendance were: Gene Bowles, Connie Stump, Sherilyn Godfrey, Bill Olsen and Duane Hayes. A quorum was declared present and the floor was open for business. Directors absent were: Rob Simmons (unexcused) and Sandra Delgado (excused). Others in attendance were: Jessica Perkins, Chief Administrative Officer; and Clark McCoy, Attorney for CDC. 3. Invocation and Pledge. Bill Olsen gave the invocation and led the group in the Pledge of Allegiance. 4. Citizen Comments. Citizens are allowed 3 minutes to speak. The Board of Directors is unable to respond to or discuss any issues that are brought up during this time that are not on the agenda, other than to make statements of specific factual information in response to a citizen's inquiry or to recite policy in response to the inquiry. The foregoing was read into the record. No citizens spoke. 5. Consider/Discuss/Action regarding the attendance policy. A discussion was held regarding the potential resignation and replacement of one of the Directors, who is also the President of this Board. He has not attended a meeting since July 2010. It was the consensus of the Board that he at least resign his position. Jessica Perkins will handle this matter. After rather lengthy discussion, the Board communicated to the Jessica Perkins ("CAO") that absences would be excused if the person contacted the CAO before the meeting (at least 24 hours before); illness and family emergencies. Duane Hayes made a motion to authorize the CAO to have a resolution (Section 5. 1. The Corporation may vote and/or act upon each of the items listed in this agenda. 2. The Corporation reserves the right to retire into executive session concerning any of the items listed on this agenda, whenever it is considered necessary and legally justified under the Open Meeting Act. 3. Persons with a disability who want to attend this meeting who may need assistance should contact the office of the City Secretary at 972 924-3325 two working days prior to the meeting so that appropriate arrangements can be made. 11-04-2010 Regular CDC Minutes.doc / MINUTES OF REGULAR MEETING OF THE ANNA COMMUNITY DEVELOPMENT CORPORATION Thursday, November 4, 2010 D EVELOP111 Eli] CORPORATION The Community Development Corporation ("CDC") of the City of Anna met at 4:00 p.m., Thursday, November 4, 2010, at the Anna City Hall Administration Building, 111 North Powell Parkway (Hwy. 5), Anna, Texas. Call to Order Connie Stump, Vice -President, called the meeting to order and the following items were presented to the Board for its consideration. 2. Roll Call and Establishment of Quorum. Directors in attendance were: Gene Bowles, Connie Stump, Sherilyn Godfrey, Bill Olsen and Duane Hayes. A quorum was declared present and the floor was open for business. Directors absent were: Rob Simmons (unexcused) and Sandra Delgado (excused). Others in attendance were: Jessica Perkins, Chief Administrative Officer; and Clark McCoy, Attorney for CDC. 3. Invocation and Pledge. Bill Olsen gave the invocation and led the group in the Pledge of Allegiance. 4. Citizen Comments. Citizens are allowed 3 minutes to speak. The Board of Directors is unable to respond to or discuss any issues that are brought up during this time that are not on the agenda, other than to make statements of specific factual information in response to a citizen's inquiry or to recite policy in response to the inquiry. The foregoing was read into the record. No citizens spoke. 5. Consider/Discuss/Action regarding the attendance policy. A discussion was held regarding the potential resignation and replacement of one of the Directors, who is also the President of this Board. He has not attended a meeting since July 2010. It was the consensus of the Board that he at least resign his position. Jessica Perkins will handle this matter. After rather lengthy discussion, the Board communicated to the Jessica Perkins ("CAO") that absences would be excused if the person contacted the CAO before the meeting (at least 24 hours before); illness and family emergencies. Duane Hayes made a motion to authorize the CAO to have a resolution (Section 5. 1. The Corporation may vote and/or act upon each of the items listed in this agenda. 2. The Corporation reserves the right to retire into executive session concerning any of the items listed on this agenda, whenever it is considered necessary and legally justified under the Open Meeting Act. 3. Persons with a disability who want to attend this meeting who may need assistance should contact the office of the City Secretary at 972 924-3325 two working days prior to the meeting so that appropriate arrangements can be made. 11-04-2010 Regular CDC Minutes.doc Board Attendance. of the Bylaws of the Anna Community Development Corporation) drafted. Gene Bowles seconded the motion. Motion carried. Connie Stump then made a motion to take no action on this item. Seconded by Gene Bowles. Motion carried. 6. Consider/Discuss/Action regarding a resolution providing for notice of intent to undertake a project involving a loan and grant to an automotive business for the purpose of promoting new or expanded business development. Jessica Perkins informed the Board that businesses such as retail services like an automotive business do not create primary jobs as described in the EDC guidelines of the Texas Govt. Code (set forth and now operating under Texas Local Government Code, Chapter 505). That is the reason why the loan request from Towner Enterprises is being considered on the CDC agenda rather than the EDC agenda. Ms. Perkins also identified that Taco Bell and Joe Bistro's were given consideration for site improvements which is allowed under the Texas Govt. Code guidelines for a Type A EDC. The CDC traditionally has funded parks and other recreational items based on the item that was placed on the ballot and voted upon by the citizens of Anna. However, the CDC can use funds for expanding business growth. Since the citizens passed the usage of CDC funds for this purpose also, it is possible to authorize the expenditure of $30,000, in the form of a loan/grant agreement, for the expansion of operations for Towner Enterprises LLC, from existing resources of the CDC. It would require City Council approval and a 60 -day publication of Notice and Notice of Public Hearing. The CDC can do this because the city has less than 20,000 people. Gene Bowles made a motion to adopt this resolution and to authorize the 60 -day Notice of Project and Note of Public Hearing be published upon approval of the city council. Duane Hayes seconded the motion. Motion carried. This item will be placed on City Council's agenda and after the 2nd public hearing held before the council, it will/will not approve CDC's project. CLOSED SESSION (exceptions): a. Deliberation regarding the purchase, exchange, lease or value of real property. (Tex. Gov't Code §551.072); b. Consult with legal counsel on matters in which the duty of the attorney to the governmental body under the Texas Disciplinary Rules of Professional Conduct of the State Bar of Texas clearly conflicts with Chapter 551 of the Government Code (Tex. Gov't Code §551.071); and, c. Discuss or deliberate Economic Development Negotiations: 1. The Corporation may vote and/or act upon each of the items listed in this agenda. 2. The Corporation reserves the right to retire into executive session concerning any of the items listed on this agenda, whenever it is considered necessary and legally justified under the Open Meeting Act. 3. Persons with a disability who want to attend this meeting who may need assistance should contact the office of the City Secretary at 972 924-3325 two working days prior to the meeting so that appropriate arrangements can be made. 11-04-2010 Regular CDC Minutes.doc (1) To discuss or deliberate regarding commercial or financial information that the Board of Directors has received from a business prospect that the Board of Directors seeks to have locate, stay, or expand in or near the territory of the City of Anna and with which the Board is conducting economic development negotiations; or (2) To deliberate the offer of a financial or other incentive to a business prospect described by subdivision (1). (Tex. Gov't Code §551.087). Not necessary. 8. Review of bills and fiscal year 2010 -budget. No budget was presented. No action taken on payment of the partial salary of Anna Parks Maintenance Employee. The Board was concerned that the entire amount had to be paid at once. The members want to draw interest on this money and pay it monthly. His salary is approx. $60,000 with benefits. Authorization was previous given to Jessica Perkins to pay the fee statement of Wolfe, Tidwell, McCoy for Clark McCoy's services in the amount of $947.06. 9. Consider/Discuss/Action regarding approving the special meeting minutes for September 7, 2010 and October 20, 2010 and regular meeting minutes from October 14, 2010. Sherilyn Godfrey made a motion to accept the minutes as written that was seconded by Bill Olsen. Motion carried. 10. Adjourn. Gene Bowles made a motion adjourn that was seconded by Bill Olsen. The meeting was adjourned at 5:27 p.m. APPROVED: Constance Ann Stump Vice -President of CDC ATTESTED: Sherilyn Godfrey Secretary of CDC 1. The Corporation may vote and/or act upon each of the items listed in this agenda. 2. The Corporation reserves the right to retire into executive session concerning any of the items listed on this agenda, whenever it is considered necessary and legally justified under the Open Meeting Act. 3. Persons with a disability who want to attend this meeting who may need assistance should contact the office of the City Secretary at 972 924-3325 two working days prior to the meeting so that appropriate arrangements can be made. 11-04-2010 Regular CDC Minutes.doc 03, v MINUTES OF REGULAR MEETING OF THE ANNA COMMUNITY DEVELOPMENT CORPORATION f.- OO6OPMEN° Cruel Ornae�rr Thursday, January 13, 2011 GORFO RA'I ION The Community Development Corporation ("CDC") of the City of Anna met at 4:00 p.m., Thursday, January 13, 2011, at the Anna City Hall Administration Building, 111 North Powell Parkway (Hwy. 5), Anna, Texas. Call to Order Constance Ann Stump, Vice -President, called the meeting to order and the following items were presented to the Board for its consideration. 2. Roll Call and Establishment of Quorum. Directors in attendance were: Connie Stump, Sherilyn Godfrey, Bill Olsen, Sandra Delgado, Duane Hayes (4:05 p.m.) and Gene Bowles (4:49 p.m.). Rob Simmons was absented (unexcused). A quorum was declared present and the floor was open for business. Others in attendance were: Jessica Perkins, Chief Administrative Officer; and Clark McCoy, Attorney for CDC. 3. Invocation and Pledge. Bill Olsen gave the invocation and led the group in the Pledge of Allegiance. 4. Citizen Comments. Citizens are allowed 3 minutes to speak. The Board of Directors is unable to respond to or discuss any issues that are brought up during this time that are not on the agenda, other than to make statements of specific factual information in response to a citizen's inquiry or to recite policy in response to the inquiry. The foregoing was read into the record. None present. Per Philip Sanders, City Manager, this section is to be removed since it is not standard to most CDC/EDC meetings. 5. Receive presentation from Don and Lynda Wilson on their Laminin Cross jewelry Company. Don and Lynda Wilson are a retired couple that decided to start their own jewelry business. Presently, they live in Van Alstyne but claim that they plan to move to Anna soon. They make only one product and it is a jewelry replica of the DNA Laminin that is shaped like a cross. Currently, they hold a provisional patent. There are thirty-seven (37) different designs. Mrs. Wilson is an artist by trade and her husband handles all the marketing aspects of their product. They market their product nationwide through Christian bookstores, E -Bay and their website. 1. The Corporation may vote and/or act upon each of the items listed in this agenda. 2. The Corporation reserves the right to retire into executive session concerning any of the items listed on this agenda, whenever it is considered necessary and legally justified under the Open Meeting Act. 3. Persons with a disability who want to attend this meeting who may need assistance should contact the office of the City Secretary at 972 924-3325 two working days prior to the meeting so that appropriate arrangements can be made. 01-13-2011 Regular CDC Minutes.doc They have not made any projections of future sales/earnings or what the equipment will cost to bring the casting operation from Dallas to Anna, but they know that they will need financing to expand. At this time, no action is required by the Board. They are just exploring their options. There is a potential of adding an employee(s) since the molds still need to be manually put together and the product needs to be prepared for shipping. Their business would add sales tax revenue to Anna. 6. Consider/Discuss/Action regarding accepting Rob Simmons resignation and appointing a new President to the CDC. Jessica Perkins, on behalf of the Board, received a letter of resignation from Rob Simmons. Connie Stump made a Motion to accept the resignation of Rob Simmons. Sherilyn Godfrey seconded the Motion. Motion carried. Bill Olsen was asked to accept the nomination of the new CDC President, but feels that he cannot at this time. Sandra Delgado decided that she could accept the position. Bill Olsen made a Motion to appoint Sandra Delgado as the new CDC President. Seconded by Duane Hayes. Motion carried. Discussion regarding promotional funds including funding for the GACC Christmas parade. The CDC and EDC boards are presently spending money faster than it is coming in. In addition, the advertising and marketing needs have increased and the Board needs to focus on the specific needs of the city. One example is the hiring of Tom Terrell, a professional marketer. Therefore, Connie Stump has proposed that the Board cut back on funds given to GACC and sponsor only one activity a year, specifically the Christmas Parade. A discussion followed and Duane Hayes felt that the Board was being rather harsh in its proposed decision to fund only one event a year and should come up with a gradual plan. No action was taken. 8. Consider/Discuss/Action regarding a resolution concerning a grant and/or loan to Towner Enterprises, LLC. In November of 2010, Mr. Towner asked the Board for a grant/loan in the amount of $30,000 to buy equipment. Since the loan/grant does not fall within the guidelines of EDC and use of funds from CDC require public notice and two readings of a resolution, Jessica Perkins told the Board that a Resolution, subject to the approval of legal counsel and City Council, needed to be adopted to move forward. The resolution had its first reading before the City Council on January 11, 2010; but City Council failed to have a quorum on January 25, 2010. Subsequently, no second reading. Therefore, there is nothing the Board can do until the City Council meets again and gives the Board some direction on this matter. Meantime, Mr. Towner is financing a new building to be built next to the new tire store in the strip mall near the storage facility. Gene Bowles made a Motion that no action be taken. Sherilyn Godfrey seconded it. Motion carried. 1. The Corporation may vote and/or act upon each of the items listed in this agenda. 2. The Corporation reserves the right to retire into executive session concerning any of the items listed on this agenda, whenever it is considered necessary and legally justified under the Open Meeting Act. 3. Persons with a disability who want to attend this meeting who may need assistance should contact the office of the City Secretary at 972 924-3325 two working days prior to the meeting so that appropriate arrangements can be made. 01-13-2011 Regular CDC Minutes.doc 9. HOLD CLOSED SESSION OF THE BOARD OF DIRECTORS UNDER SECTIONS 551.072 AND 551.087 OF TEXAS GOVERNMENT CODE TO DISCUSS: a. Deliberation regarding the purchase, exchange, lease or value of real property. (Tex. Gov't Code §551.072); b. Consult with legal counsel on matters in which the duty of the attorney to the governmental body under the Texas Disciplinary Rules of Professional Conduct of the State Bar of Texas clearly conflicts with Chapter 551 of the Government Code (Tex. Gov't Code §551.071); and, c. Discuss or deliberate Economic Development Negotiations: (1) To discuss or deliberate regarding commercial or financial information that the Board of Directors has received from a business prospect that the Board of Directors seeks to have locate, stay, or expand in or near the territory of the City of Anna and with which the Board is conducting economic development negotiations; or (2) To deliberate the offer of a financial or other incentive to a business prospect described by subdivision (1). (Tex. Gov't Code §551.087). Not Necessary. 10. Review of bills and fiscal year 2010-11 budget. Jessica Perkins presented the CDC's budget outlining the Revenues and Expenditures from 10/01/2010 to 12/2012010. The statement of Wolfe, Tidwell, McCoy, in the amount of $1,466.12, will be paid. Duane Hayes brought the Board's attention that the FDIC will no longer insure accounts over $250,000 unless they are non-interest bearing. Jessica Perkins will take this under advisement. 11. Consider/Discuss/Action regarding approving the regular meeting minutes from December 2, 2010 and special meeting minutes from December 16, 2010. Duane Hayes made a Motion to accept the minutes as written. Connie Stump seconded the Motion. Motion carried. 1. The Corporation may vote and/or act upon each of the items listed in this agenda. 2. The Corporation reserves the right to retire into executive session concerning any of the items listed on this agenda, whenever it is considered necessary and legally justified under the Open Meeting Act. 3. Persons with a disability who want to attend this meeting who may need assistance should contact the office of the City Secretary at 972 924-3325 two working days prior to the meeting so that appropriate arrangements can be made. 01-13-2011 Regular CDC Minutes.doc 12. Adjourn. Bill Olsen made a Motion to adjourn that was seconded by Gene Bowles. Motion carried. Meeting adjourned at 5:20 p.m. APPROVED: Constance Ann Stump Vice -President of CDC ATTESTED: Sherilyn Godfrey Secretary of CDC 1. The Corporation may vote and/or act upon each of the items listed in this agenda. 2. The Corporation reserves the right to retire into executive session concerning any of the items listed on this agenda, whenever it is considered necessary and legally justified under the Open Meeting Act. 3. Persons with a disability who want to attend this meeting who may need assistance should contact the office of the City Secretary at 972 924-3325 two working days prior to the meeting so that appropriate arrangements can be made. 01-13-2011 Regular CDC Minutes.doc Cs MINUTES OF REGULAR MEETING OF THE I 1 f ANNA COMMUNITY DEVELOPMENT CORPORATION Y /,�\gbrtal cL1 Ort.rrn„ Lrr Thursday, February 3, 2011 G01 : OItPO HP; fIOL The Community Development Corporation ("CDC") of the City of Anna met at 4:02 p.m., Thursday, February 3, 2011, at the Anna City Hall Administration Building, 111 North Powell Parkway (Hwy. 5), Anna, Texas. 1. Call to Order Constance Ann Stump, Vice -President of CDC, called the meeting to order and the following items were presented to the Board for its consideration. 2. Roll Call and Establishment of Quorum. Directors in attendance were: Connie Stump, Sherilyn Godfrey, Bill Olsen (4:06 p.m.), Duane Hayes and Gene Bowles. Sandra Delgado was stuck in traffic. A quorum was declared present and the floor was open for business. Others in attendance were: Jessica Perkins, Chief Administrative Officer; and Clark McCoy, Attorney for CDC. 3. Invocation and Pledge. Sherilyn Godfrey gave the invocation and led the group in the Pledge of Allegiance. 4. Consider/Discuss/Action regarding a resolution to submit the restated certificate of incorporation to the Secretary of State. The CDC's purpose in filing the restated certificate was to comply with a request from the IRS to update the CDC's certificate of formation to include language from the tax code related to the CDC's pending 501 c(3) application. Duane Hayes made a Motion to approve the submission of the Restated Certificate of Formation to the Secretary of State's Office, which was previously approved by City Council. Gene Bowles seconded the Motion. Motion carried. 5. Consider/Discuss/Action regarding adopting a resolution regarding amendments to Bylaws. The purpose of amending the Bylaws of CDC is to reflect the amendments made to the Restated Certificate of Formation. Clark McCoy, legal counsel for CDC pointed out that further revisions needed to be made in Section. 1. Registered Office and Registered Aqent as follows: 1. The Corporation may vote and/or act upon each of the items listed in this agenda. 2. The Corporation reserves the right to retire into executive session concerning any of the items listed on this agenda, whenever it is considered necessary and legally justified under the Open Meeting Act. 3. Persons with a disability who want to attend this meeting who may need assistance should contact the office of the City Secretary at 972 924-3325 two working days prior to the meeting so that appropriate arrangements can be made. 02-03-2011 Regular CDC Minutes.doc a. Articles of iRGerpeizatien of the GoFpoFati9R shall read Certificate of Formation. b. (the AA'G;B„") shall be changed to (the "Certificate") Revisions in Section 3. Purpose shall read: its � oosEted Artinkas of Formatini4 shall be changed to read as set forth in the Certificate. Clark McCoy also stated that there may be further revisions to correctly reference the Certificate. Duane Hayes made a Motion to amend Section 1 and Section 3 of the Bylaws. He further moved to authorize legal counsel to make whatever revisions necessary to properly reflect the Restated Certificate of Formation. Sherilyn Godfrey seconded the Motion. Motion carried. 6. Consider/Discuss/Action regarding adopting a resolution regarding a professional services agreement with Tom Terrall, Jr. Even though more revenue is coming in than expected, neither corporation has enough money in its adopted budget to bear the cost of funding the professional services agreement with Tom Terrall. Therefore, the staff wants to list both CDC and EDC on the professional services agreement. Connie Stump made a Motion to authorize the Chief Administrative Officer to Act on behalf of the Board by executing a contract, to include CDC, for consulting services with Tom Terrall, Jr. Sherilyn Godfrey seconded the Motion. Motion carried. HOLD CLOSED SESSION OF THE BOARD OF DIRECTORS UNDER SECTIONS 551.072 AND 551.087 OF TEXAS GOVERNMENT CODE TO DISCUSS: a. Deliberation regarding the purchase, exchange, lease or value of real property. (Tex. Gov't Code §551.072); b. Consult with legal counsel on matters in which the duty of the attorney to the governmental body under the Texas Disciplinary Rules of Professional Conduct of the State Bar of Texas clearly conflicts with Chapter 551 of the Government Code (Tex. Gov't Code §551.071); and, c. Discuss or deliberate Economic Development Negotiations: (1) To discuss or deliberate regarding commercial or financial information that the Board of Directors has received from a business prospect that the Board of Directors seeks to have locate, stay, or expand in or near the territory of the City of Anna and with which the Board is conducting economic development negotiations; or 1. The Corporation may vote and/or act upon each of the items listed in this agenda. 2. The Corporation reserves the right to retire into executive session concerning any of the items listed on this agenda, whenever it is considered necessary and legally justified under the Open Meeting Act. 3. Persons with a disability who want to attend this meeting who may need assistance should contact the office of the City Secretary at 972 924-3325 two working days prior to the meeting so that appropriate arrangements can be made. 02-03-2011 Regular CDC Minutes.doc (2) To deliberate the offer of a financial or other incentive to a business prospect described by subdivision (1). (Tex. Gov't Code §551.087). Not Necessary. 8. Review of bills and fiscal year 2010-11 budget. There were no bills to review. A copy of CDC Budget 2010-2011 was attached to the meeting packet for the Board's information. 9. Consider/Discuss/Action regarding approving the regular meeting minutes from November 4, 2010 and regular meeting minutes from January 13, 2011. Since the secretary's e-mail is down, Gene Bowles made a Motion to table the approval the aforementioned minutes. Bill Olsen seconded the Motion. Motion carried. 10. Adjourn. Gene Bowles made a Motion to adjourn that was seconded by Bill Olsen. The meeting was adjourned at 4:17 p.m. APPROVED: Sandra Delgado President of CDC ATTESTED: Sherilyn Godfrey Secretary of CDC I. The Corporation may vote and/or act upon each of the items listed in this agenda. 2. The Corporation reserves the right to retire into executive session concerning any of the items listed on this agenda, whenever it is considered necessary and legally justified under the Open Meeting Act. 3. Persons with a disability who want to attend this meeting who may need assistance should contact the office of the City Secretary at 972 924-3325 two working days prior to the meeting so that appropriate arrangements can be made. 02-03-2011 Regular CDC Minutes.doc COMMUNITY DEVELOPMENT CORPORATION Meeting: March 3, 2011 Budgeted Amount: n/a AGENDA SUBJECT: Adjourn. SUMMARY: n/a Item No. 10 Anna Community Development Corporation Agenda Staff Report STAFF RECOMMENDATION: n/a Staff Contact: Jessica Perkins Exhibits: Yes X No