MINUTES

SUNNYVALE 4A DEVELOPMENT CORPORATION

REGULAR MEETING

MAY 3, 2007

7:00 P.M.

THE SUNNYVALE 4A DEVELOPMENT CORPORATION MET IN REGULAR SESSION ON MAY 3, 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

ABSENT VICE PRESIDENT JIM WADE

MEMBER PAT WILEY

ABSENT MEMBER DANNY ALLEN

MEMBER LAWRENCE BOYD

· CALL MEETING TO ORDER

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

· APPROVAL OF MINUTES FROM REGULAR MEETING OF APRIL 5, 2007

Motion was made by Member Wylie to approve the minutes for the regular meeting of April 5, 2007. Motion seconded by Member Boyd. Motion carried 3/0.

· 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.

Mike Sage, 137 Rebecca Rd., told the Board that Allyn Giacomazzi was present in the event they needed hospital information since he works in that business.

· DISCUSSION/ACTION ITEMS:

1. PRESENTATION BY COTTONWOOD DEVELOPMENT

Jon Foulger, Cottonwood Partners, gave a presentation to the Board on a general acute care hospital proposed for Sunnyvale on Collins Road. He said that this would be a locally owned venture between Cottonwood Partners and Rockwall Hospital Inc. He described a 100,000+ sq ft facility with the possibility of expansion to 170,000 sq ft.

Discussion followed regarding the potential for disclosure of Cottonwood's confidential financial information. Walt McCool, 4A Attorney, advised that the open government statutes provide ways to protect confidential information from disclosure.

Allyn Giacomazzi, 217 Brazos Lane, spoke of concerns on the hospital project. He reminded the Board that the hospital market was highly competitive. Mr. Giacomazzi said that he would prefer a non-profit hospital with a branded name of Baylor, Presbyterian, etc.

Chairperson Whitehurst asked Mr. Giacomazzi his opinion on how to be sure this hospital was the right hospital for Sunnyvale. Mr. Giacomazzi suggested verifying the track record of their other ventures.

2. UPDATE ON AMERICAN MARAZZI TILE, INC. INCENTIVES

3. UPDATE ON FRY STREET/COLLINS CORNER PROJECT

4. UPDATE ON CORPORATION'S BUDGET, COMMITMENTS AND PENDING PROJECTS

Chairperson Whitehurst announced that items 2-4 would be heard after the executive session.

· EXECUTIVE CLOSED SESSION

5. 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.

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.

Chairperson Whitehurst adjourned into executive session at 7:50 p.m.

Chairperson Whitehurst reconvened into regular session at 9:00 p.m.

· CONSIDER ANY ACTION AS A RESULT OF THE EXECUTIVE SESSION

Chairperson Whitehurst announced that no action would be taken on Items 2, 3 or 4 listed above.

· ADJOURN

Motion was made by Member Wylie to adjourn. Motion seconded by Member Boyd. Motion carried 3/0.

Chairperson Whitehurst adjourned the meeting at 9:00 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