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Home My WebLink AboutCDCpkt2016-11-033.l04Or, t(nwe 6 ANNA COMMUNITY DEVELOPMENT CORPORATION Thursday, November 3, 2016 @ 5:00 PM Anna City Hall, Council Chambers 111 N. Powell Parkway, Anna, Texas 75409 1. Call to Order, Roll Call and Estabilishment of Quorum 57'1 a./p 01 2. Invocation and Pledge of Allegiance J]pU9 ��{ MJci,,Ld (A" -e,,4, 3. Presentation from Andrea Henry, owner of Simply Floor It. ) to,. �, I ( (n 1 c S+a 1�4— -t- 4. Presentation from First Southwest regarding funding options for proposed land purchase. )- l q 5. CLOSED SESSION (EXECEPTIONS) a. Deliberate regarding the purchase, exchange, lease or value of real property. (Tex. Gov't Code 551.072) land purchase. 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) 312 North Powell Parkway; land. n ( 01 6. Consider/Discuss/Action regarding minutes from September 29, 2016. 1/ N til -z Cornni(-e- A-t,.L- 7. Consi erer/Diction regarding approving a resolution authorizing an amendment to the land purchase contract allowing for an extension of the Feasibility �l eview Period with Closing on or before December 31, 2016. l�0 n n i� Gil LL 8. Adjourn. s : tr3 P *— a Item No. 4. CDC Agenda 4 Staff Report 4, i V Meeting Date: 11/3/2016 Staff Contact: Jessica CIO IVIMit INIIY U EVE LO PPA ENT Perkins CORPOP.F,iION AGENDA ITEM: Presentation from Andrea Henry, owner of Simply Floor It. ARUT 11 -F -111W The CDC and City Council have approved Ms. Henry as an applicant for the RLF (revolving loan fund) program. Ms. Henry is here to give an update on the status of her flooring showroom and tell us a bit more about the company and her future plans. STAFF RECOMMENDATION: none. an ,. F �a COhiiMliNliY DEVELOPMENT COP.PORATIoN AGENDA ITEM: Item No. 7. CDC Agenda Staff Report Meeting Date: 11/3/2016 Staff Contact: Jessica Perkins Consider/Discuss/Action regarding minutes from September 29, 2016. SUMMARY. review minutes STAFF RECOMMENDATION: staff recommends you approve. ATTACHMENTS: Description Upload Date Type CDC Minutes 11/3/2016 Backup Material 5. Consider/Discuss/Action adopting a resolution approving a sponsorship agreement with the Greater Anna Chamber of Commerce. Historically, CDC has signed a written agreement of sponsorship with GACC allocating a set amount of money for sponsorship of their yearly events. Staff wishes to enter into an agreement for the sponsorship of Glow Feast, to be held October 29, and the Christmas Parade, to be held on December 10, in the respective amounts of $8,000.00 and $3,000.00. After some discussion, John Houcek made a motion adopting the resolution authorizing the Chief Administrative Officer, ("CAO") to sign the Agreement for Sponsorship Commitment for 2016, on behalf of the CDC Corporation, attached hereto as Exhibit "A"; and for the CAO to charge CDC's Promotional Expense account, Line Item 6735, in the amount of $11,000.00. Nate Pike seconded the motion. Motion passed with Michael Williams abstaining 6. CLOSED SESSION (exceptions). a. Discuss or deliberate 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 government 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); Simply Floor It. Not Necessary. 7. Consider/Discuss/Action adopting a resolution approving a line of credit project with SIMPLY FLOOR IT, LLC (the "Project"), and directing public notice. Jessica Perkins provided information to the Board regarding Anna's newest business. The owner, Andrea Henry has applied for a loan through the RLF (revolving loan fund) program to assist in costs to finish out the showroom and hire staff. Pursuant to the loan '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 eonclusimi ofthe meetbig of the Anna CommunityDevelopment Coporation. IMPORANT LEGAL NOTICE: The Corporation may vote and/oact upon each of the items listed 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 justified under the Open Meetings Act. Disabled person who want to attend the meeting and 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. 07-07-2016 Reg CDC Meeting — Page 2 AGENDAITEM: Item No. 8. CDC Agenda Staff Report Meeting Date: 11/3/2016 Staff Contact: Jessica Perkins Consider/Discuss/Action regarding approving a resolution authorizing an amendment to the land purchase contract allowing for an extension of the Feasibility Review Period with Closing on or before December 31, 2016, SUMMARY. The current land purchase contract expires on November 18, 2016. With the ballot initiative to reallocate the sales tax percentage, the board needs till the end of the calendar year to complete the land purchase. STAFF RECOMMENDATION: Staff recommends you approve. ATTACHMENTS: Description Upload Date Type Resolution Land Contract Extenstion 11/1/2016 Resolution Land Extension Contract Amendment 11/1/2016 Backup Material Amendment to Real Estate Sales Contract This Amendment to Real Estate Sales Contract (this "Amendment') amends that certain Real Estate Sales Contract (the "Contract') between Harlan Properties, Inc. ("Seller") and Anna Economic Development Corporation and Anna Community Development Corporation or Assigns (collectively, `Buyer") to buy and sell the real property identified below and is effective on the date of the last of the signatures by Seller and Buyer as parties to this Amendment. Property: Approximately 85.571 gross acres of real property out of that certain 246.815 -acre tract located at the northeast corner of the intersection of the Collin County Outer Loop and S.H. 5 in the City of Anna, Collin County, Texas, more particularly described in Exhibit A, which is incorporated here as if set forth in full ("Property"). 1. For $10 and other good and valuable consideration paid to Seller by Buyer, the receipt and sufficiency of which is hereby acknowledged, the parties agree to amend the Contract as follows: a. The Closing Date set forth in Section A.S. of the Contract is extended to be on or before December 31, 2016. b. The Feasibility Review Period set forth in Section F.3. of the Contract is extended by 30 days for a total of 150 days after the Effective Date of the Contract. 2. The remainder of the Contract shall remain in full force and effect, except that any provision that conflicts with the extension of the Closing Date and the Feasibility Review Period shall be deemed to have been amended by this Amendment to the extent required to allow, without penalty: (1) the Seller and Buyer to close on or before December 31, 2016; and (2) the Buyer to have a 30 -day extension of the Feasibility Review Period as set forth herein. 3. Capitalized phrases in this Amendment shall have the same meanings as in the Contract unless expressly stated otherwise herein. AGREED AND EXECUTED BY SELLER AND BUYER: SELLER: Harlan Properties, Inc. M Suresh Sh idharani, its President Date: Amendment to Real Estate Sales Contract Page 1 of 5 EXHIBIT A Description of the Property BEING a portion of a tract of land located in the D.E.W. Babb Survey, Abstract Number 33, situated in Collin County, Texas and being a portion of a 361.545 acre tract of land described by deed to Harlan Properties, Inc. recorded in Instrument No. 20121228001650300 of the Official Public Records of Collin County, Texas, and being more particularly described by metes and bounds as follows; BEGINNING at a 1/2 inch iron rod found for the northwest corner of said 361.545 acre tract lying on the northerly edge of County Road No. 421 a gravel road, also lying on the easterly line of a tract of land described by deed to Dallas Area Rapid Transit, recorded in Collin County Clerks Document No. 2001-0078323 of the Official Public Records of Collin County, Texas, the southwest corner of tract of land described by deed to 40 PGE, Ltd., recorded in Volume 5387, Page 468 of the Deed Records of Collin County, Texas, also lying on the common line of said D.E.W. Babb Survey and the Grandison Stark Survey, Abstract No. 798; THENCE South 89 degrees 11 minutes 36 seconds East, along the common line of said Babb and Stark Survey, also along the common line of said 361.545 acre tract and said 40 PGE tract, a distance of 1743.74 feet to a 5/8 inch iron rod with cap stamped "R.P.L.S. 5430" set for corner lying in the center of a 30 feet wide Sanitary Sewer easement, recorded in Instrument No. 20150422000453060 of the Official Public Records of Collin County, Texas; THENCE through the interior of said 361.545 acre tract along the center of said 30 feet wide easement the following courses and distances: South 11 degrees 33 minutes 57 seconds East, a distance of 61.78 feet to a 5/8 inch iron rod with cap stamped "R.P.L.S. 5430" set for corner; South 00 degree 48 minutes 25 seconds West, a distance of 1346.23 feet to a 5/8 inch iron rod with cap stamped "R.P.L.S. 5430" set for corner; Amendment to Real Estate Sales Contract Page 3 of 5 THENCE North 89 degrees 24 minutes 49 seconds West, along the north line of said City of Anna tract, a distance of 295.59 feet to a 5/8 inch iron rod with cap stamped "R.P.L.S. 5430" set for the northwest corner of same, also lying on the easterly line of said Dallas Area Rapid Transit tract; THENCE North 18 degrees 44 minutes 49 seconds East, along the easterly line of said Dallas Area Rapid Transit tract, a distance of 1495.06 feet to the POINT OF BEGINNING containing 3,727,460 square Feet, or 85.571 acres of land. Amendment to Real Estate Sales Contract Page 5 of 5