MINUTES AND CERTIFIED AGENDA
SUNNYVALE 4A DEVELOPMENT CORPORATION
BOARD OF DIRECTORS
REGULAR MEETING
APRIL 3, 2008
7:00 P.M.
THE BOARD OF DIRECTORS OF SUNNYVALE 4A DEVELOPMENT CORPORATION WILL MEET IN REGULAR SESSION ON APRIL 3, 2008 AT 7:00 P.M. IN THE COUNCIL CHAMBERS OF THE SUNNYVALE TOWN HALL, 127 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
ABSENT MEMBER LARRY BOYD
MEMBER CLINT WESTMORELAND
ABSENT MEMBER DANNY ALLEN
· CALL MEETING TO ORDER
President Bill Whitehurst called the meeting to order at 7:00 p.m.
· APPROVAL OF MINUTES FROM REGULAR MEETING OF MARCH 20, 2008.
President Bill Whitehurst tabled the minutes from the regular meeting of March 20, 2008 until the next regular meeting.
· APPROVAL OF MONTHLY FINANCIAL REPORT FOR MARCH 31, 2008.
Dave Cranford, Finance Director, stated that the board has a copy of the year-end statement. He also stated that the financial report for March 31, 2008 would be ready for the next regular 4A meeting.
President Bill Whitehurst tabled the approval of the monthly financial report for March 31, 2008 until the next regular 4A meeting.
Walt McCool, 4A Attorney, stated that the monthly financials for March would probably reflect a payment to Fry Street.
·
PUBLIC COMMENT PERIOD: PERSONS MAY ADDRESS THE
There was no public comment made.
· 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
3.
PURSUANT TO SECTION 551.074 OF THE
President Whitehurst adjourned into executive session at 7:06 p.m.
President Whitehurst reconvened the meeting at 8:40 p.m.
· CONSIDER ANY ACTION AS A RESULT OF THE EXECUTIVE SESSION
A motion was made by member Wade to approve the
agreement with the
· ADDITIONAL DISCUSSION/ACTION ITEMS
A. CONSIDER A RECOMMENDATION OUTLINING TAX ABATEMENT OR OTHER INCENTIVES THAT MAY BE OFFERED FOR MILLARD REFRIGERATED SERVICES, INC. PROPOSED WAREHOUSE PROJECT AND REQUESTING TOWN COUNCIL APPROVAL.
B. CONSIDER SETTING A BUSINESS BREAKFAST DATE.
Pam Mundo suggested dates to host the business breakfast and asked the Board
to consider a speaker they would like to attend the business breakfast. Pam Mundo suggested the Harwood Group to speak at the business breakfast or possibly inviting a some residential builders to come speak about the housing market in Sunnyvale. Pam Mundo also suggested a representative from the High school or the Hospital speak at the breakfast.
Member Wade suggested to the board that the a representative from the Rockall Group give a presentation on the hospital and school superintendent could talk about the ground breaking of the new high school. Member Wade also suggested that CVS attend the business breakfast.
Pam Mundo suggested to the board the dates of May 8th or May 15th
for the Business Breakfast. There was consensus that the Sunnyvale Business
Breakfast will be held on May 15.
· ADDITIONAL DISCUSSION/ACTION ITEMS:
A.
CONSIDER A RESOLUTION AUTHORIZING CHANGES TO THE ECONOMIC
DEVELOPMENT AGREEMENT FOR THE
A motion was made by member Wade to approve the Economic Development Agreement as submitted to the 4A board in draft form, with instructions to the Town Council to eliminate the monitoring provisions as stated in section 6 of the draft, and further to amend that section to read that the monitoring will fall in line with the tax abatement agreement. The motion was second by member Westmoreland. The motion passed unanimously.
B. CONSIDER A RESOLUTION RECOMMENDING THAT THE
TOWN COUNCIL ACCEPT PROPOSED CHANGES TO THE TAX ABATEMENT AGREEMENT FOR THE
Walt McCool, 4A Attorney, recommended that the abatement be restructured
so that it is annual beginning after the issue of certificate of occupancy for a period not to exceed five years, and that the cap on abated taxes be reworked into the draft before it is sent to the Town Council.
A motion was made by member Wade to approve the recommended changes as stated by the 4A Attorney, and that the paragraphs regarding the tax abatement be clarified. The motion was second by member Westmoreland. The motion passed unanimously.
C. CONSIDER A RESOLUTION RECOMMENDING THAT THE TOWN
COUNCIL ACCEPT PROPOSED CHANGES TO THE TAX ABATEMENT
AGREEMENT FOR MILLARD REFRIGERATED SERVICES, INC.
PROJECT
Walt McCool recommended that the abatement include a commencement date stated as year one, year two, etc., and the cap on abated taxes be reworked into the agreement so that the $500,000 tax cap is still in place in the final agreement before it is considered by the Town Council.
A motion was made by member Wade to adopt the resolution 2008-4-2 regarding Millard Refrigerated Services, Inc, with the noted amendments to the tax abatement agreement. The motion was second by member Westmoreland. The motion passed unanimously.
· ADJOURN
Motion was made by Member Wade to adjourn. Motion second by Member Westmoreland. Motion carried unanimously.
President Bill Whitehurst adjourned the
meeting at 8:53 p.m.
_____________________________
President, Bill Whitehurst
ATTEST:
__________________________
Scott
Campbell, 4A Secretary