JANUARY 8, 1992
MINUTES OF THE SPECIAL MEETING
THE BOARD OF DIRECTORS
SCHERTZ DEVELOPMENT FOUNDATION, INCORPORATED
The special meeting of the Board of Directors of the Corporation
was held at the Northcliffe Country Club, 5301 Country Club
Boulevard, New Braunfe1s, Texas on the 8th day of January 1992,
at 12:00 noon.
The following Directors of the Corporation, being a
Directors of the Corporat ion, were present and
throughout the meeting:
quorum of the
participated
Charles McDonald, President
Tom Weaver, Vice President
Jim Shriver, Secretary/Treasurer
Kerry Sweatt, Assistant Secretary
Lewis Borgfeld, Director
Mark Marquez, Executive Director
Also present at the meeting was Doyle M. Hines, General Manager,
Guadalupe Valley Electric Cooperative, Inc. and General Manager,
Guadalupe Valley Development Corporation.
Charles McDonald, President, served
and Jim Shriver, Secretary/Treasurer
meeting.
as Chairman of the meeting
served as Secretary of the
The purpose of this special meeting was to receive information,
data, and proposals from Doyle Hines and Lewis Borgfe1d in their
capacity as members of the Guadalupe Valley Development
Corporation. Lewis Borgfeld also serves as President of the
Guadalupe Valley Electric Cooperative, Inc. and Guadalupe Valley
Development Corporation.
Doyle Hines and Lewis Borgfeld advised that certain property
located at the Schertz Business Park on the east side of FM 1518,
Schertz, Texas was for sale by the Resolution Trust Corporation
(RTC) .
A subdivision plat of the Schertz Business Park was provided to
each Director. It is believed that Subdivision Lots 2, 3, 4, 7,
8, 9, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25,
and 26 are available for sale. These lots equal approximately
13.49 acres. Subdivision lots that are not for sale are Lot 1
which is owned by the City of Schertz, Lot 5 which is owned by
Hannascl Electric, Lots 6 and 10 which are owned by unknown
private owners, and Lots 27, 28, and 29 which are believed to be
1
owned by unknown private owners. Further research will be needed
to determine if Lots 27, 28, and 29 are in fact owned by private
owners or by the RTC.
Doyle Hines and Lewis Borgfe1d stated these properties are
located in an excellent area for future economic development and
that an offer should be made to the RTC for purchase of the
property. The Board concurred with these statements.
Doyle Hines and Lewis Borgfeld made the following proposals:
1. That the Schertz Development Foundation, Inc. would make
an offer to the RTC to purchase the properties at $5,000.00 per
acre, for a total investment of $67,450.00 ($5,000.00 X 13.49
acres). If it is determined that Lots 27,28, and 29 were also
available, an offer to purchase these lots would also be made.
2.
property
Inc.
That
would
if the
be given
property was
to the Schertz
purchased, title to the
Development Foundation,
3. That the Schertz Development Foundation, Inc. would
assume total responsibility and management of the property.
4. And, that the Schertz Development Foundation, Inc. would
repay to the Guadalupe Valley Development Corporation the
purchase price plus an agreed interest rate, over an agreed
period of time, as funds become available to the Schertz
Development Foundation, Inc.
5. The exact legal requirements and documentation would be
developed and agreed to at a later date after the RTC accepted
the purchase offer.
Upon motion duly made, seconded, and unanimously carried, it was
agreed that the Guadalupe Valley Development Corporation should
proceed with the offer to purchase from the RTC the above stated
property, and based upon the above stated proposals.
Doyle Hines and Lewis Bordfeld advised that they would keep the
Board informed of their process.
There being
duly made,
adjourned.
no further business before the meeting, on motion
seconded and unanimously carried the meeting was
2
(~~~' ~,. ~92
Charles McDonald, President
~
~~
Tom Weaver, Vice President
Kerry Sweatt, Asst. Secretary
Lewis Bordfeld, Director
Mark Marquez
Executive Director
The following documents have been appended to these Minutes:
Appendix:
1. Summary Of Salient Facts and Conclusions consisting of
15 pages.
2. Subdivision Plat of the Schertz Business Park.
3