MINUTES

SUNNYVALE 4A DEVELOPMENT CORPORATION

BOARD OF DIRECTORS

REGULAR MEETING

JANUARY 8, 2009

7:00 P.M.

 

THE BOARD OF DIRECTORS OF SUNNYVALE 4A DEVELOPMENT CORPORATION MET ON JANUARY 8, 2009 AT 7:00 P.M. 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 PRESENT WERE:

 

                                    PRESIDENT                          BILL WHITEHURST

                                    VICE PRESIDENT               JIM WADE

                                    MEMBER                               LARRY BOYD

                                    MEMBER                               CLINT WESTMORELAND

                                    MEMBER                               RACHEL DOYLE

 

·         CALL MEETING TO ORDER

President Whitehurst called the meeting to order at 7:00 p.m.

 

·         APPROVAL OF MINUTES

        1.  REGULAR MEETING OF NOVEMBER 6, 2008

No action taken.

 

·         APPROVAL OF REPORT FOR UNAUDITED FINANCIAL STATEMENT FOR NOVEMBER AND DECEMBER ACTIVITIES FOR 2008.

Dave Cranford, Finance Director, advised that sales tax was averaging out about $44,000 and expenditures were under budget at this time.  Member Wade asked for a footnote to be added to the report advising of outstanding liabilities. 

 

Motion was made by Member Doyle to approve the financial statement for Nov/December as read.  Motion seconded by Member Boyd.  Motion carried unanimously.

 

·         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.

 

Motion was made by Member Wade to discuss the next two (2) agenda items in executive session.  Motion seconded by Member Boyd.  Motion carried unanimously.

 

·     DISCUSS AND CONSIDER REQUESTED AMENDMENTS TO THE ECONOMIC DEVELOPMENT AGREEMENT WITH CP SUNNYVALE PROPERTY, LTD. IN REGARD TO THE TEXAS REGIONAL MEDICAL CENTER AT SUNNYVALE. 

 

·     DISCUSS AND CONSIDER APPROVAL OF AN ECONOMIC DEVELOPMENT AGREEMENT WITH THE TOWN OF SUNNYVALE FOR THE 4A CORPORATION’S CONTRIBUTION OF FUNDS FOR THE PLANNED IMPROVEMENTS TO THE BRIDGE AND INTERCHANGE AT US HWY 80 AND COLLINS RD. 

 

·         EXECUTIVE SESSION AGENDA

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.

2.      PURSUANT TO SECTION 551.071 OF THE TEXAS GOVERNMENT CODE TO CONSULT WITH THE ATTORNEY FOR THE SUNNYVALE 4A DEVELOPMENT CORPORATION ON MATTERS FOR WHICH THE ATTORNEY'S DUTIES CONFLICT WITH THE TEXAS OPEN MEETINGS ACT.

3.       PURSUANT TO SECTION 551.074 OF THE TEXAS GOVERNMENT CODE TO DISCUSS AND DELIBERATE PERSONNEL CONSIDER ANY ACTION AS A RESULT OF THE EXECUTIVE SESSION. 

 

President Whitehurst announced that while this was not the scheduled time for the executive session, the action was necessary at this time.  He announced that they would be adjourning into executive session 551.087 of the Texas Government Code.

 

President Whitehurst adjourned into executive session at 7:05 p.m.

President Whitehurst reconvened into regular session at 8:07 p.m.

 

President Whitehurst introduced State Representative Robert Mikilos to those present. 

 

·     DISCUSS AND CONSIDER REQUESTED AMENDMENTS TO THE ECONOMIC DEVELOPMENT AGREEMENT WITH CP SUNNYVALE PROPERTY, LTD. IN REGARD TO THE TEXAS REGIONAL MEDICAL CENTER AT SUNNYVALE. 

President Whitehurst read the above item into the record.  Motion was made by Member Wade to table the amendments at this time for CP Sunnyvale Property, Ltd and ask the town council to review with the property owners some amendments to the contract specifically that which has to do with the investment in the property as it relates to the tax abatement agreement and also with regards to signage on the property. Motion seconded by Member Westmoreland.  Motion carried unanimously.

 

·     DISCUSS AND CONSIDER APPROVAL OF AN ECONOMIC DEVELOPMENT AGREEMENT WITH THE TOWN OF SUNNYVALE FOR THE 4A CORPORATION’S CONTRIBUTION OF FUNDS FOR THE PLANNED IMPROVEMENTS TO THE BRIDGE AND INTERCHANGE AT US HWY 80 AND COLLINS RD. 

President Whitehurst read the above item into the record.  Motion was made by Member Wade to approve this economic development agreement with an amendment to paragraph 3.3 which changes the date to coincide with the amortization schedule that being the year 2028 and also that the amortization schedule as prepared by the finance director be attached and made a part of this agreement.  Attorney Walt McCool suggested changing the 2022s to 2028 in paragraph 3.3 and 3.1 and then at the end of section 3.2 the third line obligations for that fiscal year as, delete the rest of that sentence and add "shown on the debt service schedule that is attached to and incorporated into this agreement as exhibit A.  Member Wade agreed to the changes as suggested.  Motion seconded by Member Boyd.  Motion carried unanimously.

 

·     DISCUSS AND CONSIDER PLANS FOR THE FEBRUARY 17TH DAY IN AUSTIN, TEXAS. 

Pam Mundo, Economic Consultant, presented the board with a proposed flyer on the plans for Sunnyvale Day in Austin on Feb. 17, 2009.  She said that the bus would serve 56 passengers and the fee would be $1,600 for the day.  Discussion followed regarding the schedule for the day's events. 

 

·         ADJOURN

President Whitehurst adjourned the meeting at 8:45

 

The undersigned presiding officer certifies that this is a true and correct record of the proceedings.

 

____________________________________

President Bill Whitehurst                     

 

ATTEST:

 

_______________________________

Scott Campbell, Town Manager