MINUTES AND CERTIFIED AGENDA

SUNNYVALE 4A DEVELOPMENT CORPORATION

BOARD OF DIRECTORS

REGULAR MEETING

MARCH 20, 2008

5:30 P.M.

THE BOARD OF DIRECTORS OF SUNNYVALE 4A DEVELOPMENT CORPORATION WILL MEET IN A REGULAR SESSION ON MARCH 20, 2008 AT 5:30 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. ITEMS TO BE DISCUSSED AND ACTED UPON ARE:

PRESIDENT BILL WHITEHURST

VICE PRESIDENT JIM WADE

MEMBER LAWRENCE BOYD

ABSENT MEMBER DANNY ALLEN

MEMBER CLINT WESTMORELAND

· CALL MEETING TO ORDER

Chairperson Whitehurst called the meeting to order at 5:45 p.m.

· APPROVAL OF MINUTES FROM REGULAR MEETING OF JANUARY 3, 2008

Motion was made by Member Boyd to approve the minutes of January 3, 2008. The motion to approve was second by Member Westmoreland. The motion carried 3/0.

Vice President, Jim Wade arrived at the regular meeting of March 20, 2008 at 5:50 p.m.

· APPROVAL OF MONTHLY FINANCIAL REPORTS FOR FEBRUARY 29,2008

Dave Cranford, Finance Director, stated that sales tax revenues were coming in at forty thousand a month, and were budgeted at four hundred thousand for the year. The audit stated 2.4 million as beginning fun balance for this year. Two expenses for the fun balance included $500,000 to Marazzi Tile and $195,000 to Rains Over Texas.

Walt McCool, 4A Attorney, stated he was working with Fry Street to coordinate the $175,000 owed by 4A. He stated they had applied for a certificate of occupancy as a sales tax generating business, and had submitted construction documents.

The Board discussed and accepted the monthly financial reports for February 29, 2008.

· 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.

· UPDATE, REVIEW AND CONSIDER RECOMMENDING COUNCIL APPROVAL OF TEXAS CAPITAL FUND APPLICATION FOR PUBLIC INFRASTRUCTURE IN ASSOCIATION WITH THE PROPOSED LOCATION OF MILLARD REFRIGERATED SERVICES ON LONG CREEK ROAD.

Pam Mundo, Economic Development, explained to the board the grant process for the Millard Refrigerated Services’ project. She stated that the maximum amount granted was $750,000, and that $50,000 was for grant administration. Mrs. Mundo explained that in December, the board applied to add a traffic light and improve the intersection, and that the grant now included funding to make street front of the Millard location. she stated the cost of the project was $220,000, and the traffic light would help with the movement of additional trucks because of Millard and the new user of the Home Depot location. She explained that water and sewer was essential to the project and area, and the waterline will provide safety for fire protection; and the sewer line from Marazzi Tile will provide sewer for the entire area.

Member Wade wanted to know what type of traffic light would be at the intersection and why the price of the traffic light went up in a dollar amount.

Pam Mundo replied that the traffic light would be the same type of light that is next to Marazzi Tile. Pam also explained to the board that there are six to seven applications being made to the state, and this application is ranked number four with 60 points. She stated that changing the dollar amount will not change the points, and that recently a discussion took place with Millard's President Larry Latham, Scott Campbell, and Walt McCool about the possible scenario of not being awarded the grant. Millard’s President, Larry Latham, agreed to pave the street in front of Millard but did not feel comfortable paving the whole street that would not benefit the Millard business. Mrs. Mundo stated that the Board recently agreed to pay for the water and sewer, and fifty percent of the road improvement and Millard fifty percent.

A motion was made by member Wade to recommend the Town Council approve the Texas Capital Fund Application for public infrastructure in association with the proposed location of Millard Refrigerated Services on Long Creek Road. The motion was second by Member Boyd. Motion Carried 3/0.

· DISCUSS AND CONSIDER UPDATES TO THE ACTIONS BEING A PART OF THE STRATEGIC PLAN OF THE SUNNYVALE 4A DEVELOPMENT CORPORATION.

Pam Mundo reviewed a spreadsheet detailing Sunnyvale projects to date, stating that the value of these projects since 2004 was $200,000,000. She further stated that the Marazzi Tile project was excellent for the community, along with the Hospital, and Millard Refrigerated Services. She stated that to facilitate the following joint meeting with the Town Council, each Board member should list their perceived strengths, weaknesses, opportunities, and threats to economic development. Mrs. Mundo and the 4A Board discussed the options available for future development and suggestions to discuss with the Town Council.

· ADJOURN

A motion was made by member Wade to adjourn the meeting. The motion was second by member Boyd. Motion carried 3/0.

President Whitehurst adjourned the meeting at 6:48 p.m.

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Bill Whitehurst, President

ATTEST:

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Scott Campbell, 4A Secretary