4B Development Corporation Regular Meeting

Name: 4B Development Corporation Regular Meeting — Sanger, TX
Start: 2024-09-24T18:00:00
End: 2024-09-24T20:00:00
Location: Sanger, TX

Regular Meeting

Sanger, TX · September 24, 2024

Agenda Packet Minutes

Minutes

4B DEVELOPMENT CORPORATION MEETING MINUTES SEPTEMBER 24, 2024, 6:00 PM 4B DEVELOPMENT CORPORATION REGULAR MEETING DEVELOPMENT SERVICES BUILDING - 201 BOLIVAR STREET, SANGER, TEXAS 76266 CALL THE REGULAR MEETING TO ORDER AND ESTABLISH A QUORUM As there was a quorum John Payne called the meeting to order at 6:00 p.m. BOARD MEMBERS PRESENT Board Member, Place 1 Lee Allison Board Member, Place 2 John Payne Board Member, Place 3 Matt Fuller Board Member, Place 4 Beverly Howard Board Member, Place 7 Carrie Bilyeu BOARD MEMBERS ABSENT Board Member, Place 5 Jeff Springer Board Member, Place 6 Eddie Piercy STAFF MEMBERS PRESENT Director of Economic Development Shani Bradshaw, Secretary Shelley Warner INVOCATION AND PLEDGE Invocation was led by Board Member Springer. Pledge was led by Board Member Howard. CITIZENS COMMENTS No citizens came forward to speak. 4B Minutes 09-24-2024 Page 1 of 3 CONSENT AGENDA 1. Consideration and possible action on 4B minutes from 08/27/2024. Motion to approve the consent agenda as shown was made by Board Member Bilyeu. Seconded by Board Member Howard. Voting Yea: Board Member Payne, Board Member Fuller. Board Member Allison abstained from the vote. The motion passes unanimously. PUBLIC HEARING ITEMS 2. Conduct a Public Hearing on financial incentives to Randall’s Food & Drugs, LP in the amount not to exceed One Million Dollars ($1,000,000) in exchange for performance obligations to the 4B Sanger Texas Development Corporation Board Member Payne opened the Public Hearing at 6:01 p.m. Director Shani Bradshaw provided an overview of the item. Board Member Payne closed the Public Hearing at 6:02 p.m. ACTION ITEMS 3. Consideration and possible action to approve and authorize the execution of a Performance Agreement with Randall’s Food & Drugs, LP, to provide financial incentives in the amount not to exceed One Million Dollars ($1,000,000) in exchange for economic development obligations to the 4B Sanger Texas Development Corporation, subject to City Council approval. Director Bradshaw went over the Agreement with the Board. Board Member Allison asked about the terms of the Agreement, and Director Bradshaw went over the terms outlined in the Agreement. Motion to approve and authorize the execution of a Performance Agreement with Randall’s Food & Drugs, LP, to provide financial incentives in the amount not to exceed One Million Dollars ($1,000,000) in exchange for economic development obligations to the 4B Sanger Texas Development Corporation was made by Board Member Fuller. Seconded by Board Member Bilyeu. Voting Yea: Board Member Allison, Board Member Payne, and Board Member Howard. The motion passes unanimously. FUTURE AGENDA ITEMS No future items were discussed. 4B Minutes 09-24-2024 Page 2 of 3 ADJOURN As there were no further items on the agenda Board Member Payne adjourned the meeting at 6:12 p.m. 4B Minutes 09-24-2024 Page 3 of 3

Agenda

4B DEVELOPMENT CORPORATION MEETING AGENDA SEPTEMBER 24, 2024, 6:00 PM 4B DEVELOPMENT CORPORATION REGULAR MEETING DEVELOPMENT SERVICES BUILDING - 201 BOLIVAR STREET, SANGER, TEXAS 76266 CALL THE REGULAR MEETING TO ORDER AND ESTABLISH A QUORUM INVOCATION AND PLEDGE CITIZENS COMMENTS This is an opportunity for citizens to address the Corporation on any matter. Comments related to public hearings will be heard when the specific hearing begins. Citizens are allowed 3 minutes to speak. Each speaker must complete the Speaker’s Form and include the topic(s) to be presented. Citizens who wish to address the Corporation with regard to matters on the agenda will be received at the time the item is considered. The Corporation is not allowed to converse, deliberate or take action on any matter presented during citizen input. CONSENT AGENDA All items on the Consent Agenda will be acted upon by one vote without being discussed separately unless requested by a Board member to remove the item(s) for additional discussion. Any items removed from the Consent Agenda will be taken up for individual consideration. 1. Consideration and possible action on 4B minutes from 08/27/2024 PUBLIC HEARING ITEMS 2. Conduct a Public Hearing on financial incentives to Randall’s Food & Drugs, LP in the amount not to exceed One Million Dollars ($1,000,000) in exchange for performance obligations to the 4B Sanger Texas Development Corporation. ACTION ITEMS 3. Consideration and possible action to approve and authorize the execution of a Performance Agreement with Randall’s Food & Drugs, LP, to provide financial incentives in the amount not to exceed One Million Dollars ($1,000,000) in exchange for economic development obligations to the 4B Sanger Texas Development Corporation, subject to City Council approval. FUTURE AGENDA ITEMS The purpose of this item is to allow the President and Board members to bring forward items they wish to discuss at a future meeting, A Board member may inquire about a subject for which notice has not been given. A statement of specific factual information or the recitation of existing policy may be given. Any deliberation shall be limited to a proposal to place the subject on an agenda for a subsequent meeting. Items may be placed on a future meeting agenda with a consensus of the Corporation or at the call of the President. ADJOURN NOTE: The Corporation reserves the right to adjourn into Executive Session as authorized by Texas Government Code, Section 551.001, et seq. (The Texas Open Meetings Act) on any item on its open meeting agenda in accordance with the Texas Open Meetings Act, including, without limitation Sections 551.071-551.087 of the Texas Open Meetings Act. CERTIFICATION I certify that a copy of this meeting notice was posted on the bulletin board at City Hall that is readily accessible to the general public at all times and was posted on the City of Sanger website on September 19, 2024, at 4:00 PM. /s/ Stefani Dodson Stefani Dodson, Secretary The Historical Church is wheelchair accessible. Request for additional accommodations or sign interpretation or other special assistance for disabled attendees must be requested 48 hours prior to the meeting by contacting the City Secretary’s Office at 940.458.7930.

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