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2017 02 02 MDD MinutesMINUTES OF THE REGULAR MEETING OF THE BOARD OF DIRECTORS OF THE BAYTOWN MUNICIPAL DEVELOPMENT DISTRICT February 02, 2017 The Board of Directors of the Baytown Municipal Development District (MDD) met in a Regular Meeting on Thursday, February 02, 2017, at 4.32 P M. in the Council Chamber of the Baytown City Hall 2401 Market Street Baytown, Texas with the following in attendance Stephen DonCarlos President Chris Presley Vice President Reggie Brewer Secretary Charles Johnson Director Gary Englert Director Mary Hernandez Director Robert Hoskins Director Dave Jarels Director David McCartney Director Lam Alvarado Director Terry Sam Director Rick Davis General Manager Ignacio Ramirez Sr General Counsel Leticia Brysch Assistant Secretary President DonCarlos convened the February 02, 2017, Municipal Development District (MDD) Board Regular Meeting with a quorum present at 432 P M., all members were present with the exception of Directors Alvarado and Presley who arrived at 4:33 P M MINUTES a Consider approving the minutes of the Municipal Development District Board Regular Meeting held on November 03, 2016 A motion was made by Director Mary Hernandez and seconded by Secretary Reggie Brewer approving the November 03 2016 MDD Board Regular Meeting minutes The vote was as follows Ayes Secretary Reggie Brewer, Director Charles Johnson President Stephen H DonCarlos, Director Gary Englert, Director Mary Hernandez Director Robert C Hoskins Director David P Jurels, Director David McCartney Director Terry Sam Nays None MDD Board Regular Meeting Minutes February 02 2017 Page 2 of 4 Other Vice -President Chris Presley (Not Present for Vote), Director Laura Alvarado (Not Present for Vote) Approved REPORTS a Receive the Economic Development Foundation's first quarter report for FY2016- 2017 Mr B] Simon presented the Economic Development Foundation's ("EDF") first quarter report for October 01 2016 through December 31, 2016, and noted for the new MDD members that the specified categories were adopted by the foundation in 2006 to be used for reporting purposes He stated that they provided information to 96 prospects and entertained two (2) site selection visits (Project White Bird and Project Zulu) With regards to retail development he stated that the EDF attended the ICSC 2016 Texas Conference in Dallas Texas in October 2016 they continue to maintain relationships with numerous prospects, and they continue to support small business development through the incubators without walls initiatives Mr Simon stated that they continue to work with the City of Baytown to activate city -owned properties, to develop up tiff housing projects, work on the efforts to establish a hotel and conference center at Bayland Island and work to enhance telecommunications infrastructure in and around the Baytown West Chambers County service area. He noted that they participated in a residential development roundtable in November 2016 and also noted that the movement toward the actual implementation of the heavy haul road permitting is expected to happen at the end of the first quarter Mr Simon stated that the EDF continues its collaboration with workforce development allies to include the Baytown Workforce Preparedness Partnership and Lee College With regards to tax abatement and incentive programs he stated that they provided assistance to various entities during this recorded period and also stated that they w hosted the 2016 Industrial Expansion Symposium with Lee College which was well attended He further stated that they continued support for the federal Foreign Trude Zones (FTZ) #84 and #171 as well as compile and disseminate economic development related data for its statistical clearinghouse He stated that the EDF continued its partnerships with neighboring economic development organizations and regional allies, whereas, they attended a New Market Tax Credit Conference in October 2016 He noted that the new market tax credit is an available federal incentive that is applicable to various census tracks in Baytown which continues to try and develop a coding strategy to maximize employment of such incentive Additionally Mr Simon stated that they routinely promote the quality of life in Baytown with prospect RFI responses and interact with the governor's office regarding economic development In Receive the Baytown Municipal Development District's Quarterly Financial and Investment Reports for the Quarter Ending December 31, 2016 Finance Director, Wade Nickerson presented the Baytown Municipal Development District's Quarterly Investment Report for the Quarter Ending December 31 2016 He noted for the new members that the MDD is funded mostly by sales tax revenues He stated that the sales tax revenues were slightly under in comparison to the budget and that the overall revenues were at MDD Board Regular Meeting Minutes February 02 2017 Page 3 of 4 24.6%, which is close to staffs expectancy He further stated that the revenue numbers were low but staff expects the revenues to recover and come in at the expected budget projections He noted that there's about a two (2) month delay in receipt of the sales taxes for this quarter With regards to expenditures Mr Nickerson stated that tlus is basically a project fund of mostly capital expenses in which the sewer projects has encumbrances of approximately 74% and that the park improvement projects were under $700,000 of encumbrances to date Also regarding expenditures, he stated that there were some operational expenses with the bulk of the $128,000 paid to date for the payment for the mall redevelopment With regards to the investment report Mr Nickerson stated that there was approximately $3.5 million in the MDD portfolio at a rate of 5.5733% with earnings of $4,800 in revenue EXECUTIVE SESSION a Recess into and conduct an executive session pursuant to Sections 551.071, 551.072 and 551.087 of the Texas Government Code to deliberate the purchase of real property for a development project, to deliberate the offer of a financial or other incentive to a business prospect and to seek the advice of the City attorneys on legal matters related thereto At 4:43 P M., President DonCarlos recessed into and conducted an executive session pursuant to Sections 551071, 551.072 and 551 087 of the Texas Government Code to deliberate the purchase of real property for a development project, to deliberate the offer of a financial or other incentive to a business prospect and to seek the advice of the City attorneys on legal matters related thereto At 5.55 P M., Mayor DonCarlos reconvened the Open Meeting of the City Council Regular Meeting and announced that in accordance with Section 551 102 of the Texas Open Meetings Act, no action was taken in the Executive Session b Consider a resolution author¢mg the First Amendment to the Economic Development Special Services Contract with Baytown/West Chambers County Economic Development Foundation to include land acquisition services A motion was made by Secretary Reggie Brewer and seconded by Director Robert C Hoskins approving Resolution No 303 The vote was as follows Ayes Secretary Reggie Brewer Director Charles Johnson, President Stephen H DonCarlos Director Gary Englert Director Mary Hernandez, Director Robert C Hoskins Director David P Jirrels Director David McCartney, Vice President Chris Presley Director Laura Alvarado Director Terry Sam Nays None Approved MDD Board Regular Meeting Minutes February 02 2017 Page 4 of 4 RESOLUTION NO 303 A RESOLUTION OF THE BOARD OF DIRECTORS OF THE BAYTOWN MUNICIPAL DEVELOPMENT DISTRICT AUTHORIZING THE GENERAL MANAGER TO EXECUTE AND THE ASSISTANT SECRETARY TO ATTEST TO THE FIRST AMENDMENT TO THE ECONOMIC DEVELOPMENT SPECIAL SERVICES CONTRACT BETWEEN THE BAYTOWN AREAIWEST CHAMBERS COUNTY ECONOMIC DEVELOPMENT FOUNDATION AND THE BAYTOWN MUNICIPAL DEVELOPMENT DISTRICT FOR ECONOMIC DEVELOPMENT SERVICES, AND PROVIDING FOR THE EFFECTIVE DATE THEREOF MANAGER'S REPORT a Reminder that the next Baytown Municipal Development District meeting is scheduled for Thursday, March 02, 2017, at 4.30 P M., in the City Council Chamber, 2401 Market Street, Baytown Texas, 77520 General Manager Davis presented the agenda item and stated that the next Baytown Municipal Development District meeting is scheduled for Thursday March 02 2017 at 4 30 P M. in the City Council Chamber 2401 Market Street, Baytown, Texas, 77520 ADJOURN A motion was made by Director Terry Sam and seconded by Director Mary Hernandez adjourning the February 02 2017 MDD Board Regular Meeting. The vote was as follows Ayes Secretary Reggie Brewer Director Charles Johnson President Stephen H DonCark s, Director Gary Englert, Director Mary Hernandez Director Robert C Hoskins, Director David P Jivrels, Director David McCartney Vice -President Chris Presley Director Laura Alvarado, Director Terry Sam Nays None Approved With there being no further business to discuss, President DonCarlos adjourned the February 02 2017 Municipal Development District (MDD) Board Regular Meeting at 5,56 P M ne, L 'cia Brysch, Assistant Se e[aryCity of Baytowng�