November 16, 2017 EDC Minutes

MINUTES

BOARD OF DIRECTORS REGULAR MEETING

HALTOM CITY ECONOMIC DEVELOPMENT CORPORATION

City Hall Pre-Council Chambers - 5024 Broadway Avenue November 16, 2017 – 6:00 P.M.

A Regular Meeting was held by the Board of Directors of the Economic Development Corporation (EDC) on Thursday, November 16, 2017, at the City Hall Pre-Council Chambers with the following members present: President Ricky Brown; Vice President Gary Blocker; Board Members Bob Watkins, Trae Fowler, Don Jury, and Wesley Hart. Board Member David Averitt was absent. Staff Members present: EDC Director Keith Lane, Assistant City Manager Rex Phelps, Finance Director Jennifer Fung, City Secretary Art Camacho, and City Attorney Wayne Olson.

CALL TO ORDER

President Brown called the meeting to order at 6:02 p.m.

  1. Approval of EDC Minutes – Consideration and/or action regarding approval of the Minutes of October 19, 2017. Board Member Jury moved, seconded by Board Member Watkins, to approve the October 19, 2017 minutes. The motion was approved unanimously. Motion carried.

  2. Finance Report – Discussion of the monthly financial report. Finance Director Jennifer Fung presented the financial report ending October 2017. No questions were raised regarding the report.

  3. Economic Development Update – Updated report on current project and new potential developments. Assistant City Manager Rex Phelps presented an update regarding the new projected single family home construction, hotel and restaurant projects, grand apartment complex, and new grocery and possible retail businesses. A discussion was held regarding the 43 acre EDC owned property developments, municipal facilities, possible may 2018 Bond Election, and property developer’s ideas and concepts.

  4. Grant Policy Revision – Consideration and/or action to revise review procedures in the Economic Development Assistance Grant Policy (tabled from previous meeting). Assistant City Manager Rex Phelps presented the agenda item and a discussion was held regarding the new revisions, amount of funding for the EDC for grants, selection criteria, non-quarterly grant limitations, possible budget amendment, possible zone restrictions, and the use of the name “Haltom City” in the business addresses of local grant-assisted businesses. Board Member Fowler moved, seconded by Board Member Jury, to return this agenda item to the next meeting. The motion was approved unanimously. Motion carried.

EXECUTIVE SESSION

Section 551.071 – Consultation with the EDC Attorney. The Economic Development Corporation reserves the right to adjourn into Executive Session at any time during the course of this meeting to seek legal advice from the EDC Attorney about any matters listed on the agenda and litigation, dissolution/restructuring of the Haltom City Economic Development Corporation, settlement offers and/or claims including Flynn v. Haltom City.

Section 551.072 – Real Property. The Economic Development Corporation may deliberate the purchase, exchange, lease or value of real property,

President Brown called for an Executive Session at 7:56 p.m.

RECONVENE INTO REGULAR SESSION

President Brown reconvened the EDC into Regular Session at 8:12 p.m. No action was taken.

ADJOURNMENT

President Brown adjourned the meeting at 8:12 p.m. RESPECTFULLY SUBMITTED BY: APPROVED BY:

Art Camacho, City Secretary Ricky Brown, President

EDC November 16, 2017 Minutes page 2

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