Industrial Development Authority

MINUTES OF THE TOWN OF GILBERT, INDUSTRIAL DEVELOPMENT AUTHORITY July 26, 2018, 7:30AM 90 E CIVIC CENTER DR, CONFERENCE ROOM 100 GILBERT, ARIZONA MEMBERS PRESENT: Christopher Smith, Rebekah Fontagneres, David Kurnik, Gary Livacari, and Shelly Murphy, Lauren Candreva (arrived at 7:40 a.m. after Item 1 was approved) MEMBERS ABSENT: Hugo Larios, Keith Lamparter STAFF PRESENT: Dan Henderson, Jennifer Graves, Jocelyn Smith COUNCIL LIAISON PRESENT: Victor Petersen CALL TO ORDER AND ROLL CALL: Christopher Smith called the meeting to order at 7:32 a.m. and declared a quorum present. COMMUNICATIONS FROM CITIZENS Dan Henderson opened the floor to the public for any comments or communications for items not on the agenda. No communication from citizens. 1. Minutes—Consider approval of the April 6, 2017 meeting minutes A MOTION was made by Member Fontagneres and seconded by Member Kurnik to accept and approve the minutes of April 6, 2017 as written. Motion passed 5-0. 2. By-Laws—Consider approval of an amendment to the IDA Bylaws Staff Liaison Jennifer Graves reviewed the change. Motion was made by Member Fontagneres and seconded by Member Murphy to approve the changes. Motion passed 6- 0. 3. Election of Officers—Conduct annual election of officers A MOTION to re-elect Christopher Smith as President, Lauren Candreva as Vice President, Keith Lamparter as Secretary, and Gary Livacari as Treasurer was made by Member Fontagneres and seconded by Member Murphy. Motion passed 6-0. 4. Annual Financial Report—Acceptance of annual financial report for fiscal year ending June 30, 2018 Staff provided a brief overview of the financials. A MOTION to approve and accept the Annual Financial Report was made by Member Fontagneres and seconded by Secretary Livacari with the exception that staff will provide Gilbert IDA an update on the collection of the annual fees for the current bond issuances. Motion passed 6-0. IDA Minutes, dated 7/26/17 Page 1  MINUTES OF THE TOWN OF GILBERT, INDUSTRIAL DEVELOPMENT AUTHORITY July 26, 2018, 7:30AM 90 E CIVIC CENTER DR, CONFERENCE ROOM 100 GILBERT, ARIZONA 5. Annual Bond Report – Acceptance of annual bonded indebtedness report for fiscal year ending June 30, 2018 A motion to approve accept and approve the Annual Bond Report was made by Member Fontagneres and seconded by Vice President Candreva. Motion passed 6-0. 6. From members of the Authority on current & future events Dan Henderson gave a brief overview of what the purpose is of the Gilbert IDA to include: - Conduit finance component for industrial development; - There is no requirement that you have to be within the Gilbert boundaries; - The board restructured the fees to attract more projects; - Town needs to focus on marketing. Council Liaison Peterson requested the sense of activity in the Phoenix and Maricopa IDAs. Member Murphy responded that there are 8-10 deals/year. Council Liaison Peterson then asked how many IDA’s are in Gilbert; Dan Henderson responded that there is approximately 1 every 4 years. To position ourselves to become more competitive, Member Murphy recommended that Gilbert update the IDA information that’s currently on our website. She recommended doing a side-by-side comparison of another municipality’s website, such as Maricopa’s. Staff to work on updating Town’s website. Once updated, staff to email link to IDA. 7. From Council and staff liaison on current & future events Staff Liaison Graves informed IDA that our new bond counsel is Tim Stratton. Council Liaison Peterson mentioned the Deloite project that just came to Gilbert. He also mentioned that he’s not running for re-election. Thank you for your service to the Town. Dan Henderson - Redevelopment Plan update going to Council for approval on August 16, 2018. It was approved by the Redevelopment Commission on July 18, 2018. There was discussion by President Smith and Dan Henderson on the vision of the Heritage District. Additional updates were: - In 2020, the General Plan will be updated; - The Cullinary will start construction in February 2018; - Hale Theatre is under renovations; - Park University is now in the University Building. - Joe Johnston – black box is a new element to Joe’s BBQ; IDA Minutes, dated 7/26/17 Page 2  MINUTES OF THE TOWN OF GILBERT, INDUSTRIAL DEVELOPMENT AUTHORITY July 26, 2018, 7:30AM 90 E CIVIC CENTER DR, CONFERENCE ROOM 100 GILBERT, ARIZONA - In addition to the retail, 4-story office building – close on property end of year; and - 9.1 HD acre site is out for RFP; plan to negotiate a deal by December 2018. ADJOURNMENT A MOTION was made by Rebecca and seconded by shelly to adjourn. Meeting adjourned at 8:23 a.m. Christopher Smith, Vice President IDA Minutes, dated 7/26/17 Page 3