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HomeMy WebLinkAbout2017/08/15-Minutes-Fort Worth Local Development Corporation (FWLDC)CITY OF FORT WORTH, TEXAS FORT WORTH LOCAL DEVELOPMENT CORPORATION TUESDAY, AUGUST 15, 2017 Present: President Gyna M. Bivens Vice President Cary Moon Secretary Dennis Shingleton Trustee Betsy Price (Arrived at 2:11 p.m.) Trustee Carlos Flores Trustee Brian Byrd Trustee Jungus Jordan Trustee Kelly Allen Gray Trustee Arm Zadeh (Arrived at 2:12 p.m.) City Staff: Jay Chapa, Assistant City Manager Leann Guzman, Senior Assistant City Attorney Mary J. Kayser, City Secretary Aaron Bovos, CFO/Treasurer I. Call to Order. With a quorum present President Bivens called the meeting to order for the Board of Directors of the Fort Worth Local Development Corporation (Corporation) at 2:01 p.m. on Tuesday, August 15, 2017, in the City Council Conference Room, Room 290 of the Fort Worth Municipal Building, 200 Texas Street, Fort Worth, Texas. II. Executive Session: President Bivens convened the executive session at 2:20 p.m. to discuss the following items: A. Seek the advice of its attorneys about any matter regarding the following in which the duty of the attorney under the Texas Disciplinary Rules of Professional Conduct of the State Bar of Texas clearly conflicts with the Texas Open Meetings Act (Tex. Govt. Code Section 551.071): (i) legal issues related to any current agenda items B. Discuss the purchase, sale, lease or value of real property, as authorized by Section 551.072 of the Texas Government Code. Deliberation in an open meeting would have a detrimental effect on the position of the Corporation in negotiations with a third party; and C. Discuss or deliberate negotiations relating to any economic development negotiations, as authorized by Section 551.087 of the Texas Government Code. President Bivens adjourned the executive session at 2:33 p.m. President Bivens reconvened the regular session of the Fort Worth Local Development Corporation at 2:34 p.m. CITY OF FORT WORTH, TEXAS FORT WORTH LOCAL DEVELOPMENT CORPORATION TUESDAY, AUGUST IS, 2017 PAGE 2 III. Action Items A. Approval of Minutes from the Meeting Held on June 20, 2017. Motion was made by Trustee Jordan and seconded by Trustee Byrd to approve the June 20, 2017, minutes of the Corporation. The motion passed 9-0. B. Consider and Adopt a Resolution Approving the Budget for the 2018 Fiscal Year Ms. Brenda Hicks -Sorensen, Economic Development Assistant Director, provided a PowerPoint presentation titled, "Fort Worth Local Development Corporation FY18 Budget". Motion was made by Trustee Jordan and seconded by Trustee Shingleton to approve FWLDC Resolution-2017-07, Approving the Fort Worth Local Development Corporation Budget for the 2018 Fiscal Year. The motion passed 9-0. C. Consider and Adopt a Resolution Authorizing the Outside Audits of the Fort Worth Local Development Corporation's and Central City Local Government Corporation's Financial Accounts by Weaver and Tidwell, LLP or an Affiliate; and Authorize the Execution of Agreement with Weaver and Tidwell, LLP. Ms. Natalie Moore, Economic Development Business Development Coordinator, provided a staff presentation. Motion was made by Trustee Price and seconded by Trustee Shingleton to approve Resolution FWLDC-2017-08, Authorizing the Outside Audits of the Fort Worth Local Development Corporation's and Central City Local Government Corporation's Financial Accounts by Weaver and Tidwell, LLP or an Affiliate; and Authorize the Execution of Agreement with Weaver and Tidwell, LLP. The motion passed 9-0. D. Discussion and Consideration of Amending the Bylaws of the Fort Worth Local Development Corporation. Ms. Ossana Hermosillo, Economic Development Business Development Manager, provided a PowerPoint presentation titled, "Proposed Amendments to the Bylaws of the Fort Worth Local Development Corporation". Motion was made by Trustee Shingleton and seconded by Trustee Price to approve amending the Bylaws of the Fort Worth Local Development Corporation. The motion passed 9-0. E. Consider and Adopt a Resolution Authorizing Signatory Agents to Execute Documents and Make Expenditures Related to the Corporation's Approved Budget Items in an Amount up to $25,000.00. Mr. Jay Chapa, Assistant City Manager, advised the Board of the need for this resolution. CITY OF FORT WORTH, TEXAS FORT WORTH LOCAL DEVELOPMENT CORPORATION TUESDAY, AUGUST 15, 2017 PAGE 3 Motion was made by Trustee Byrd and seconded by Trustee Price to approve Resolution FWLDC-2017-09, Authorizing Signatory Agents to Execute Documents and Make Expenditures Related to the Corporation's Approved Budget Items in an Amount up to $25,000.00. The motion passed 9-0. IV. Future Agenda Items. There were no requests for future agenda items. V. Adjourn. With no further discussion, President Bivens adjourned the meeting of the Fort Worth Local Development Corporation Board at 2:41 p.m. on Tuesday, August 15, 2017. These minutes approved by the Fort Worth Local Development Corporation Board of Directors on the 91h day of January, 2018. AP OVE : Gyna Bi ens President ATTEST: Prepared and respectfully submitted by: Mary J. Ka3&WAMC Secretary