MINUTES

SUNNYVALE 4A DEVELOPMENT CORPORATION

REGULAR MEETING

APRIL 5, 2007

7:00 P.M.

THE SUNNYVALE 4A DEVELOPMENT CORPORATION MET IN REGULAR SESSION ON APRIL 5, 2007 AT 7 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. THOSE PRESENT WERE:

PRESIDENT BILL WHITEHURST

VICE PRESIDENT JIM WADE

MEMBER PAT WILEY

MEMBER DANNY ALLEN

MEMBER LAWRENCE BOYD

1. CALL MEETING TO ORDER

Chairperson Whitehurst called the meeting to order at 7:05 p.m.

2. APPROVAL OF MINUTES FROM REGULAR MEETING OF MARCH 1, 2007

Motion was made by Member Allen to approve the minutes from March 1, 2007. Motion seconded by Member Boyd. Motion carried 5/0.

3. PUBLIC COMMENT PERIOD: PERSONS MAY ADDRESS THE SUNNYVALE 4A DEVELOPMENT BOARD ON ITEMS NOT ON THE AGENDA. PLEASE OBSERVE THE TIME LIMIT OF THREE (3) MINUTES. CORPORATION AND ITS MEMBERS CANNOT COMMENT OR DELIBERATE ITEMS OF PUBLIC COMMENT.

Walt McCool, 4A Attorney, updated the Board on a couple of points of interest scheduled for the Town Council meeting, April 9, 2007.

4. DISCUSSION/ACTION ITEMS:

A. CONSIDER AN AMENDMENT TO THE ECONOMIC DEVELOPMENT AGREEMENT WITH FRY ST, L.P. TO CONFORM THE SCOPE OF WORK TO THE CURRENT ENGINEERING DESIGN.

Chairperson Whitehurst tabled Item A until after executive session.

B. CONSIDER AN AMENDMENT TO THE ECONOMIC DEVELOPMENT AGREEMENT WITH RAINS OVER TEXAS, L.P. TO CONFORM THE SCOPE OF THE WORK TO THE CURRENT ENGINEERING DESIGN.

Walt McCool advised that this item would not require any action by the 4A.

5. EXECUTIVE CLOSED SESSION

A. 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.

Chairperson Whitehurst adjourned into executive session at 7:10 p.m.

Chairperson Whitehurst reconvened into regular session at 8:10 p.m.

B. 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.

6. CONSIDER ANY ACTION AS A RESULT OF THE EXECUTIVE SESSION

A. CONSIDER AUTHORIZATION OF PAYMENT OF A LOAN FROM THE TEXAS CAPITAL FUND FOR A PORTION OF THE INFRASTRUCTURE ASSOCIATED WITH THE AMERICAN MARAZZI TILE, INC. PROJECT

Chairperson Whitehurst advised that Item 4.A. would be considered at this time.

Motion was made by Member Boyd to approve an amendment to the economic development agreement with Fry St., L.P. to conform the scope of work to the current engineering design. Motion seconded by Member Wiley. Motion carried unanimously.

No other action was taken as a result of the executive session.

7. ADJOURN

Chairperson Whitehurst adjourned the meeting at 8:11 p.m.

____________________________

President, Bill Whitehurst

ATTEST:

__________________________

Kathryn Dewey, Town Secretary

A TAPE RECORDING OF THIS MEETING IS ON FILE AT TOWN HALL. THESE MINUTES ARE CONDENSED THEREFROM