MEETING MINUTES

SUNNYVALE 4A DEVELOPMENT CORPORATION

BOARD OF DIRECTORS SPECIAL MEETING

 FRIDAY, JANUARY 14, 2011

NOON, 12:00 P.M

THE SUNNYVALE 4A DEVELOPMENT CORPORATION BOARD MET IN A SPECIAL MEETING AT 12:00 P.M. NOON ON FIRDAY JANUARY 14, 2011 IN THE COUNCIL CHAMBERS OF THE SUNNYVALE TOWN HALL, 127 N. COLLINS ROAD, SUNNYVALE, TEXAS UNDER V.T.C.A., GOVERNMENT CODE SECTION 551.041.  THOSE ATTENDING WERE:

                        PRESIDENT : LAWRENCE DOYLE

                        VICE PRESIDENT: RACHEL DOYLE

                        DIRECTORS:  HARI PILLAI, DAVID CARLILE AND TERRI SHATTER

· CALL TO ORDER ;   President  Lawrence Boyd called the meeting to order at 12:02 p.m

· PUBLIC COMMENT PERIOD: PERSONS MAY ADDRESS THE SUNNYVALE

      4A DEVELOPMENT CORPORATION BOARD ON ITEMS NOT ON THE  

      AGENDA.  PLEASE OBSERVE THE TIME LIMIT OF THREE (3) MINUTES. 

      CORPORATION AND ITS DIRECTORS CANNOT COMMENT OR

       DELIBERATE ITEMS OF PUBLIC COMMENT.  There were no public comments.

· EXECUTIVE SESSION AGENDA  President Lawrence Boyd announce the Executive Session and the Board adjourned into the Executive Session at 12:04 p.m.

     1.   PURSUANT TO SECTION 551.087 OF THE TEXAS GOVERNMENT CODE

            TO DISCUSS AND DELIBERATE COMMERCIAL OR FINANCIAL

            INFORMATION FROM A POTENTIAL BUSINESS PROSPECT THAT THE

            BOARD IS SEEKING TO LOCATE OR EXPAND IN THE TOWN; TO

            DELIBERATE THE OFFER OF FINANCIAL OR OTHER INCENTIVE TO A

BUSINESS PROSPECT GENERALLY LOCATED WITHIN THE SUNNYVALE AT THE SOUTH WEST CORNER OF THE INTERSECTIONS OF  T. C. LUPTON, S. COLLINS ROAD AND U.S. HIGHWAY 80 .

The Executive Session concluded at 2:15 p.m.

· CONSIDER ANY ACTION AS A RESULT OF THE EXECUTIVE SESSION- No action was taken by the Board of Directors.

· President Boyd recused himself for the remainder of the meeting.

· CONSIDER A RESOLUTION 2011-01  RECINDING RESOLUTION 2010-03 REVISED,  A RESOLUTION OF THE TOWN OF SUNNYVALE 4A DEVELOPMENT CORPORATION (CORPORATION) RECOMMENDING THE TOWN COUNCIL OF THE TOWN OF SUNNYVALE PROCEED WITH APPROPRIATE FINANCING EFFORTS OR REQUIRED BUDGET AMENDMENTS FOR CERTAIN ROAD AND SEWER INFRASTRUCTURE PROJECTS IN CONJUNCTION WITH THE 4A DEVELOPMENT CORPORATION'S AUTHORIZED ECONOMIC DEVELOPMENT EFFORTS AS AMENDED  Through a motion of David Carlile and a second of Hari Pillai the Resolution 2011-01 was approved by the Board of Directors with a vote of 4 approving and  Lawrence Boyd not voting.

· CONSIDER RESOLUTION 2011-02, RECINDING OR AMENDING RESOLUTION 2010-02  A RESOLUTION OF THE TOWN OF SUNNYVALE 4A DEVELOPMENT CORPORATION (CORPORATION) ENTERING INTO AN ECONOMIC DEVELOPMENT AGREEMENT WITH THE TOWN OF SUNNYVALE TOWN COUNCIL (TOWN) ESTABLISHING THE 4A DEVELOPMENT CORPORATION’S DEBT SERVICE OBLIGATIONS TO THE TOWN RELATED TO CERTAIN CAPITAL INFRASTRUCTURE INVESTMENTS NOT TO EXCEED $3,000,000. Through a motion of David Carlile and a second of Hari Pillai the Resolution 2011-02 was approved by the Board of Directors with a vote of 4 approving and Lawrence Boyd not voting.

· CONSIDER RESOLUTION 2011-03, A RESOLUTION OF THE TOWN OF SUNNYVALE 4A DEVELOPMENT CORPORATION (CORPORATION) RECOMMENDING TO THE TOWN COUNCIL OF THE TOWN OF SUNNYVALE TO PROCEED WITH APPROPRIATE FINANCING EFFORTS AND REQUIRED BUDGET AMENDMENTS TO PROVIDE ECONOMIC DEVELOPMENT INCENTIVES AND TO MAKE CERTAIN ROAD AND SEWER INFRASTRUCTURE PROJECTS IN CONJUNCTION WITH THE 4A DEVELOPMENT CORPORATION’S AUTHORIZED ECONOMIC DEVELOPMENT EFFORTS.   Through a motion of David Carlile and a second of Terri Shatter the Resolution 2011-03 was approved by the Board of Directors with a vote of 4 approving and Lawrence Boyd not voting.

· ADJOURN The meeting was adjourned by Vice President Rachel Doyle at 2:20 p.m.

Approved by the Board of Directors on March_______, 2011.

_________________________

Secretary