2-27-2014 Minutes SEDC Reg Monthly Board MtgSScc1HI]E1Ri1rZ
The City of Schertz Economic Development Corporation (SE C) Board of Directors met for a Regular
Monthly Meeting on Thursday, February 27', 2014 at 6.-00 p.m. in the City Council Chambers, Conference
Room, 1.400 Schertz Parkway, Schertz, Texas. This is an open meeting, subject to the open meeting laws of
the State of Texas.
1. CALL TO ORDER
President Brown called the meeting to order at 6.-00 p.m. and welcomed everyone in attendance.
2. Roll call and recognition of visitors.
Others Present:
Mr. Jim Fowler — Council Member
Mr. Robert Brockman
Mr. Phil Vaughn — CPA/ Armstrong, Vaughn and Associates
3. Public comment.
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4. Consider/Dis cuss /Act on approval of the Minutes for the Special Called Board Meeting held
on Friday, January 171h, 2014.
A Motion to approve the Minutes for the Special Called Board Meeting held on Friday, January 17d,
2014 was made by Mr. Verinder. Seconded by Mr. Thomas. Motion passed unanimously.
5. Consider/Discuss/Act on Independent Auditor's Report for the SEDC Annual Financial
Report for the Year Ended September 30, 2013. (Deborah Fraser, CPA/Armstrong, Vaughn
and Associates)
A Motion to accept the Independent Auditor's Report for the SEDC Annual Financial Report for
the Year Ended September 30, 2013 was made by Mr. R. Richard. Seconded by Mr. G. Morris.
Motion passed unanimously.
® Review of the SEDC Monthly Financial Report for the month of January 2014. (J. Walters —
Finance Analyst)
Mr. Walters provided an overview of the SEDC Monthly Financial Statement Report for the month of
January 2014.
7. CIasi der/Dis cuss /Act on a budget adjustment request for the Development Agreement, GE
it and Gas, Inc. (D. Gwin — Executive Director)
The following caption was read into recor*3
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Ail ORDINANCE BY THE CITY COUNCIL • THE CITY • SCHERTZ, TE
A
AUTHORIZING A BUDGET ADJUSTMENT TO THE DEVELOPMENT INCENTIVE FUN
T
FOR THE DEVELOPMENT AGREEMENT, GE OIL & GAS INCENITVE; REPEALING AL
ORDINANCES OR PARTS OF ORDINANCES IN CONFLICT WITH THIS ORDINANCE; AN
PROVIDING AN EFFECTIVE DATE I
A Motion to approve recommendation to the City Council to authorize a budget adjustment
request for the Development Agreement, GE Oil and Gas, Inc. was made by Mrs. R. Scott.
Seconded by Mrs. A. Kiser. Motion passed unanimously.
® Update on Annual Development Incentive Compliance and Certification Process FY 2013. (D.
Gwin — Executive Director)
Mr. Gwin introduced ED Analyst K. Kinateder who presented the 2014 Annual Certification process.
He explained the methodology used in the process *incentive by *incentive type and reported that an
agreements required to certify for FY 2013 have met all the minimum requirements and were all
compliant.
9. Consider/Discuss/Act • a request for a Contact Information Amendment application fort in
to update name and/or address of primary company officials to receive notifications related t I
economic development agreement information for the following entities: Corridor Hotel Ltd
Corridor Hotel 11, Ltd., and Capital Group Companies, Inc. (D. Gwin — Executive Director)
10. Update • SPV Ventures, LLC payment • principal • note. (D. Gwin — Executive Director)
Mr. Gwin provided current status on the SPV Ventures, LLC loan repayment schedule.
11. Consider/Discuss/Act on changes to a First Amendment to the Development Agreement
with Amazon.com. (D. Gwin — Executive Director)
Mr. Gwin presented a request from Amazon.com to provide options for an amendment to the
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A Motion to approve on changes to a First Amendment to the Development Agreement with
Amazon.com was made by r® M. Thomas. Seconded by Mrs. A. Kiser. Motion passed
unanimously.
12. Director's Report. (D. Gwin — Executive Director)
0 Projects updates included:
No items were requested.
Executive Session did not take place.
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RECONVENE
15. Discussion and appropriate action deemed necessary as discussed during Executive Session.
No action was taken.
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President Brown adjourned the meeting at 7:01 p.m.
PASSED AND APPROVED THIS 26thDAY OF JUNE X14®
Tim %own — President
. . . . . . . . . . . . . . . . . .
... . ....
Rosemary Scott — Secretary/Treasurer
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