1-17-2014 Minutes SEDC Board Reg MtgThe City of Schertz Economic Development Corporation (SEDC) Board of Directors met for a Special
Called Meeting on Friday, January 17 th , 2014 at 12:00 p.m. in the City Council Chambers, Conference
Room, 1400 Schertz Parkway, Schertz, Texas. This is an open meeting, subject to the open meeting laws of
the State of Texas.
President Brown called the meeting to order at 12:00 pm. and welcomed everyone in attendance.
2. Roll call and recognition of visitors.
Absent:
Board Member Rosemary Scott.
Others Present:
Mr. Jim Fowler — Council Member
Mr. Robert Brockman
3® Introduction of newly appointed Board Member: Sydney Verinder. (D. in — Executive
Director)
Mr. Gwin introduced Mr. Sydney Verinder who was appointed to the SEDC Board of Directors by
City Council during the meeting held on December 10, 2013. Mr. Verinder will fill the vacancy and
finish the remainder of the term left by Mr. Matthew Duke.
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5. Consider/Dis cuss /Act on approval of the Minutes for the Regular Monthly Board Meeting
held on Wednesday, November 13th, 2013.
A Motion to approve the Minutes for Regular Monthly Board Meeting held on Wednesday,
November 13', 2013 was made by Mr. Richard. Seconded by Mr. Grady. Motion passed Nvith
one abstention from Mr. Verindet.
® Review of the SE DC Monthly Financial Reports for the months of October, November and
December 2013® (J. Walters — Finance Analyst)
Mr. Walters provided an overview of the SE DC Monthly Financial Statement Reports for the months
of October., November, and December 2013.
7. Consider/Dis cuss /Act on a request for a Contact Information Amendment application form
to update name and/or address of primary company officials to receive notifications related to
economic development agreement information for the following entities: E.M. Limited
Partnership and CST Diamond, L.P. (D. Gwin — Executive Director)
8. Update on SPV Ventures, LLC payment of principal on note. (D. Gwin — Executive Director)
Mr. Gwin provided a recap on the SPV Ventures, LLC Project and the loan history. Mr. Gwin stated
to have seen a significant success Nvith the project and as of January 17, 2013, the developer has repaid
$34,920 leaving a loan balance of $115,080.00. The developer Nvill continue to make monthly
payments until the loan full amount is paid off.
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9. Consider/ Discuss /Act on a recommendation for approval by the City Council of a First
Amendment tote Development Agreement with Amazon.com. (D. Gwin — Executive
Director)
A Motion to approve a recommendation for approval by the City Council of a First Amendment to
the Development Agreement with Amazon. com.lVdc LLC as presented was made by Mr. Richard.
Seconded by Mr. Morris. Motion passed unanimously.
10. Consider/Discuss/Act on approval of an Economic Development Incentive Agreement
among the City of Schertz Economic Development Corporation, the City of Schertz, Texas,
and GE Oil & Gas Inc. (D. Gwin — Executive Director)
A Motion to approve of an Economic Development Incentive Agreement among the City of Schertz
Economic Development Corporation, the City of Schertz, Texas, and GE Oil & Gas Inc. as presented
was made by Mr. Thomas. Seconded by Ms. Kiser. Motion passed unanimously.
Events attended/to be attended Updates
Mr. G\vin a briefly touched on events attended recently.
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12. Consider/Discuss/Act on a request for cancellation of the next Regular Monthly Boar
Meeting scheduled for Thursday, January 23, 2014. (D. Gwin — Executive Director) i
Mr. twin explained that due to a conflict of schedule, this meeting takes the place of next week
meeting.
A Motion to approve a request for cancellation of the next Regular Monthly Board Meeting
scheduled for Thursday, January 23, 2014 was made by Mr. Richard. Seconded by Mr. Thomas.
Motion passed unanitnously.
13. Requests by Board Members to Director for informatio4l
Start Time: 12:46 p.m.
End Tithe: 12:55 p.m.
15. Discussion and appropriate action deemed necessary as discussed during Executive Session.
President Brown adjourned flie ineeting at 12:56 p.1-1
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Ti ro'w-'-'n — President
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