Community Development Corporation

MEETING OF THE FRISCO COMMUNITY DEVELOPMENT CORPORATION BOARD OF DIRECTORS GEORGE A. PUREFOY MUNICIPAL CENTER MCCALLUM ROOM/FOURTH FLOOR 6101 FRISCO SQUARE BLVD. FRISCO, TEXAS 75034 6:00 PM THURSDAY, OCTOBER 15, 2020 MINUTES CALL TO ORDER President Mike Barber called the meeting to order at 6:00 P.M. A recording of the meeting was made and is available upon request. Board of Directors present included President Mike Barber, Secretary/Treasurer Wren Ovard, Director Chad Brubaker, Director Ed Mahoney, Director Khushboo Rawlley and Director Ed Szczebak. Directors absent included Vice President Karen Cunningham. City staff present included City Manager George Purefoy, Deputy City Manager Henry Hill, Assistant City Manager Nell Lange, Assistant City Manager Ben Brezina, Parks and Recreation Director Shannon Coates, Controller Derrick Cotten, and Discovery Center Supervisor Paige Points. 1. Consider and act upon the Election of Officers for the Frisco Community Development Corporation Board of Directors. Nominations were taken for President. Director Ed Mahoney motioned to nominate Mike Barber for President. Secretary/Treasurer Wren Ovard seconded the motion, and the motion was unanimously approved 5-0. Page 1 of 6  Mike Barber was elected President by a vote of 5-0. Nominations were taken for Vice President. Director Ed Mahoney motioned to nominate Karen Cunningham for Vice President. Secretary/Treasurer Wren Ovard seconded the motion, and the motion was unanimously approved 5-0. Karen Cunningham was elected Vice-President by a vote of 5-0. Nominations were taken for Secretary/Treasurer. Director Ed Mahoney motioned to nominate Wren Ovard for Secretary/Treasurer. Director Ed Szczebak seconded the motion, and the motion was unanimously approved 5-0. Wren Ovard was elected Secretary/Treasurer by a vote of 5-0. Director Chad Brubaker made the motion to recess into closed session. Secretary/Treasurer Wren Ovard seconded the motion, and the motion was unanimously approved 5-0. The meeting recessed into closed session at 6:02 P.M CLOSED SESSION 2. Recess into Closed Session in compliance with Section 551.001 et. seq. Texas Government Code, to wit A. Section 551.071. Meeting with City Attorney regarding a matter(s) in which the duty of the City Attorney under the Texas Disciplinary Rules of Professional Conduct of the State Bar of Texas conflicts with the Open Meetings Act regarding: i. Receive legal advice regarding Exide Holdings, Inc. et. al, Case No. 20-11157 (CSS), pending in the U.S. Bankruptcy Court, District of Delaware. Section 551.072. To deliberate the purchase, exchange, lease or value of B. real property located: i. South of Main Street, north of Stonebrook Parkway, west of Preston Road, and east of Legacy. Page 2 of 6  ii. South of US 380, east of Dallas North Tollway, west of Preston Road, North of Eldorado Parkway. C. Section 551.087. Deliberation regarding commercial or financial information that the City has received from a business prospect and to deliberate the offer or other incentives to a business prospect. 3. Reconvene into Regular Session and take any action necessary as a result of the Closed Session. Director Ed Mahoney made the motion to reconvene into regular session. Secretary/Treasurer Wren Ovard seconded the motion, and the motion was unanimously approved 5-0. The meeting reconvened into regular session at 6:36 P.M. REPORTS 4. Parks and Recreation Monthly Report. Director of Parks and Recreation Shannon Coates advised updates from the Parks and Recreation Monthly Report. Director Ed Mahoney asked if Breakfast with Santa was moving forward this year. Parks and Recreation Director Shannon Coates advised it was moving forward with some modifications. Director Ed Szczebak asked about events at the Black Box theater. Parks and Recreation Director Shannon Coates advised changes were made to algin with proper protocols. 5. Financial and Budgetary update. Controller Derrick Cotten presented monthly sales tax collections for August 2020. No questions from the Board. CITIZEN INPUT REGULAR AGENDA 6. Consider and act upon approval of the Minutes of the September 17, 2020 Regular Meeting of the Board and Minutes of the September 14, 2020 Special Session Meeting of the Board. Page 3 of 6  Secretary/Treasurer Wren Ovard motioned to approve the Minutes of the September 17, 2020 Regular Meeting of the Board and Minutes of the September 14, 2020 Special Session Meeting of the Board. Director Khushboo Rawlley seconded the motion, and the motion was unanimously approved 5-0. 7. Consider and act upon approval of an amended and restated Master Development Agreement for The Gate by and between City of Frisco, Texas, Frisco Economic Development Corporation, Frisco Community Development Corporation, IGO-USA LP and IGO-FRISCO 1 LLC. Assistant City Manager Nell Lange advised the original agreement passed in September of 2016 for one developer. The developer is now selling parcels of the project. The agreement has been modified to reduce incentives, add performance dates by parcel and apply incentives to each parcel. City Manager George Purefoy spoke to the map of the development. Secretary/Treasurer Wren Ovard motioned to approve the amended and restated Master Development Agreement for The Gate by and between City of Frisco, Texas, Frisco Economic Development Corporation, Frisco Community Development Corporation, IGO-USA LP and IGO-FRISCO 1 LLC. Director Chad Brubaker seconded the motion, and the motion was unanimously approved 5-0. 8. Consider and act upon approval of a Performance Agreement by and between Frisco Community Development Corporation and John Hickman, LLC. Assistant City Manager Nell Lange advised the agreement is reimbursement based for up to $3.8 million. The development will be a jewelry store with additional retail and the developer is responsible for submitting all documentation to collect reimbursement. Director Ed Mahoney motioned to approve the Performance Agreement by and between Frisco Community Development Corporation and John Hickman, LLC. Secretary/Treasurer Wren Ovard seconded the motion, and the motion was unanimously approved 5-0. 9. Consider and act upon approval of an amended and restated Performance Agreement for The Gate by and between Frisco Community Development Corporation, IGO-USA LP and IGO-FRISCO 1 LLC. Assistant City Manager Nell Lange advised this item is the performance agreement that goes with the Master Development Agreement and that the CDC would be responsible for 50% of sales tax for 25 years, estimated at $6.6 million. Page 4 of 6  Secretary/Treasurer Wren Ovard motioned to approve the amended and restated Performance Agreement for The Gate by and between Frisco Community Development Corporation, IGO-USA LP and IGO-FRISCO 1 LLC. Director Khushboo Rawlley seconded the motion, and the motion was unanimously approved 5-0. 10. Consider and act upon authorizing the City Manager to execute Amendment Number Two to the Master Development Agreement by and between the Frisco Community Development Corporation and the University of North Texas. Assistant City Manager Ben Brezina advised on the UNT master plan. Director Chad Brubaker motioned to approve the City Manager to execute Amendment Number Two to the Master Development Agreement by and between the Frisco Community Development Corporation and the University of North Texas. Director Ed Szczebak seconded the motion, and the motion was unanimously approved 5-0. 11. Consider and act upon the approval of the Consent Decree and Settlement Agreement Regarding the Non-Performing Exide Frisco Site located on the west side of Parkwood Blvd. between Hickory Street and Stonebrook Parkway. (Tabled 9/17/20) Secretary/Treasurer Wren Ovard motioned to remove the agenda item for the table. Director Khushboo Rawlley seconded the motion, and the motion was unanimously approved 5-0. Assistant City Manager Nell Lange advised the agreement has been signed by City Manager George Purefoy as authorized at the September 17th 2020 meeting. Director Ed Szczebak motioned to approve the Consent Decree and Settlement Agreement Regarding the Non-Performing Exide Frisco Site located on the west side of Parkwood Blvd. between Hickory Street and Stonebrook Parkway. Director Khushboo Rawlley seconded the motion, and the motion was unanimously approved 5-0. 12. Public Hearing: regarding the Acquisition, Clean Up and Remediation of Property located on the west side of Parkwood Blvd. between Hickory Street and Stonebrook Parkway. Secretary/Treasurer Wren Ovard motioned to open the public hearing. Director Khushboo Rawlley seconded the motion, and motion was unanimously approved 5-0. The public hearing opened at 6:50 P.M. Page 5 of 6  Assistant City Manager Nell Lange advised on the parcel of land and the potential future uses. Director Ed Mahoney motioned to close the public hearing. Director Chad Brubaker seconded the motion, and motion was unanimously approved 5-0. The public hearing closed at 6:59 P.M. 13. Discussion regarding future agenda items. Assistant City Manager Nell Lange advised she will be bringing an amended Sci-Tech agreement. ADJOURN Secretary/Treasurer Wren Ovard made the motion to adjourn. Director Ed Mahoney seconded the motion, and the motion was unanimously approved 5-0. The meeting was adjourned at 7:02 P.M. ATTEST TO: ________________________________ Mike Barber, President Please note that this is an Action Summary of the meeting and that the minutes of the meeting are not official until approved by the Frisco Community Development Corporation Board of Directors at their next scheduled meeting. Approved meeting minutes are available at https://agenda.friscotexas.gov/OnBaseAgendaOnline/. Page 6 of 6