[(EDC) Board Meeting/(CDC) Board Meeting]
[00:00:03]
TIME IS NOW FIVE 30.THE, UH, SPECIALTY CALLED JOINT MEETING WITH THE HUDDLE ECONOMIC DEVELOPMENT CORPORATION, TYPE A, TYPE B BOARD OF DIRECTORS AND THE COTTONWOOD DEVELOPMENT CORPORATION BOARD OF DIRECTORS.
UH, WILL NOW COME INTO SESSION.
UH, WE HAVE ROLL CALL, PLEASE.
PRESENT VICE CHAIR CARLSON PRESENT.
HERE, TREASURER LUCAS PRESENT BOARD MEMBER COLEMAN.
BOARD MEMBER CLARK PRESENT BOARD MEMBER SNYDER HERE AND ROLL CALL FOR COTTONWOOD DEVELOPMENT CORPORATION.
UM, CHAIRMAN THORNTON IS HERE.
UH, VICE CHAIRMAN GORDON, NOT HERE.
AND BOARD MEMBER IRIS MENDEZ HERE.
UH, WE HAVE STAND FOR THE PLEDGE OF ALLEGIANCE, PLEDGE ALLEGIANCE FLAG ONE NATION, INVISIBLE LIBERTY AND JUSTICE.
WHEN I OPEN UP THE, UH, PORTION OF THE AGENDA FOR PUBLIC COMMENT, IF ANYONE'S HERE THAT WA WISHES TO SPEAK BEFORE THE HUDDLE ECONOMIC DEVELOPMENT CORPORATION, AND I'M ASSUMING ALSO THE COTTONWOOD DEVELOPMENT CORPORATION.
UH, PLEASE COME FORWARD TO STATE YOUR NAME AND YOU'LL BE GIVEN THREE MINUTES SEEING NO ONE COME FORWARD.
I'LL LET THE RECORD SHOW PETER GORDON ARRIVED AT 5:32 PM THANK YOU.
PURSUANT TO TEXAS GOVERNMENT CODE SECTION 5 5 1 0 7 1 5 5 1 0 7 2 5 5 1 0 8 7, WE'RE NOW ENTER INTO EXECUTIVE SESSION TO DELIBERATE SEEK AND SEEK LEGAL ADVICE REGARDING STRUCTURE AND FUNDING OF ECONOMIC DEVELOPMENT, REAL PROPERTY ACQUISITION BY THE HUDDLE ECONOMIC DEVELOPMENT CORPORATION AND COTTONWOOD DEVELOPMENT CORPORATION.
THE TIME IS NOW 5 32 AND WE WILL ENTER INTO EXECUTIVE SESSION AND, UM, COTTONWOOD DEVELOPMENT CORPORATION WILL ALSO ENTER INTO AN EXECUTIVE SESSION PURSUANT TO TEXAS GOVERNMENT CODE SECTION 5 51 0 7 1, LEGAL CONSULTATION, 5 51 0 72 REAL PROPERTY AND 5 51 0 87 ECONOMIC DEVELOPMENT TO DELIBERATE AND SEEK LEGAL ADVICE REGARDING STRUCTURE AND FUNDING OF ECONOMIC DEVELOPMENT.
REAL PROPERTY ACQUISITION BY THE HEAD OF ECONOMIC DEVELOPMENT CORPORATION AND COTTONWOOD DEVELOPMENT CORPORATION AT 5:33 PM DOWN HERE.
MR. CHAIR, YOU WANNA GO UPSTAIRS FOR MORE SPACE OR TO THIS ROOM? WE CAN GO IN HERE.
[00:22:43]
THAT[00:22:43]
ORDER[00:22:44]
SEEN[00:22:44]
HIM? HUH? I'VE NEVER SEEN HIM.OH, YOU'VE NEVER SEEN HIM WALK OFF MY PHONE? MY GOD.
NO ACTION WAS TAKEN IN EXECUTIVE SESSION FOR THE, FOR THE, UH, FEDERAL ECONOMIC DEVELOPMENT CORPORATION AND 5 53.
WE ARE BACK FOR COTTONWOOD DEVELOPMENT CORPORATION.
NO ACTION WAS TAKEN AT EXECUTIVE SESSION.
UH, WE'RE GONNA MOVE ON, UH, BOARD, IF YOU DON'T MIND.
I WANT TO TAKE UP, UH, ITEM 71 AND I BELIEVE WE'RE GONNA TAKE UP 72 73 FOR COTTONWOOD AT THE SAME TIME.
SO, UH, 71, DISCUSS AND CONSIDER RESOLUTION APPROVING THE BILL OF SALE OFFERING TO PURCHASE THE COTTONWOOD DEVELOPMENT CORPORATION REAL ESTATE OF A APPROXIMATELY 250 ACRES APPROVING THE EXPENDITURE OF CORPORATE FUNDS NECESSARY TO PURCHASE A PROPERTY IN RELATED FEES AND DIRECTING THE CHAIR TO EXECUTE THE AGREEMENT AS SOON AS PRACTICAL IN INFORM APPROVED BY THE CORPORATION'S COUNCIL TO ACQUIRE THE COTTONWOOD PROPERTIES, UH, AGENDA ITEM NUMBER 72 IS DISCUSSING CONSIDER RESOLUTION EXCEPTING THE OFFICER'S SALE BY THE HUDDLE ECONOMIC DEVELOPMENT CORPORATION TO ACQUIRE CORPORATE REAL ESTATE OF APPROXIMATELY HUNDRED 50 ACRES AUTHORIZED IN CITY MANAGER TO EXECUTE CLOSING DOCUMENTS CONSISTENT WITH THE ACTION TAKEN HEREIN ON BEHALF OF THE CORPORATION.
73, DISCUSS AND CONSIDER RESOLUTION APPROVING COTTONWOOD DEVELOPMENT CORPORATION'S BILL SALE OF THE APPROXIMATE 250 ACRES OF PROPERTY OWNED BY THE CORPORATION UNDER DURESS, ACCEPTING THE HU DEVELOPMENT CORPORATIONS OFFERED TO PURCHASE THE PROPERTY AS CONTAINED IN THE BILL OF SALE ISSUED BY THE HUD ECONOMIC DEVELOPMENT CORPORATION TYPE B UNDER DURESS AND AUTHORIZING IN THE CITY OF HUK CITY MANAGER TO EXECUTE THE CLOSING DOCUMENTS CONSISTENT WITH THE ACTION TAKEN ON BEHALF OF THE CORPORATION.
ANY DISCUSSION? WE NEED A SECOND FROM EACH.
THERE BEING NO FURTHER DISCUSSION.
UM, BOARD I WOULD LIKE TO MOVE IN CONSIDERING AGENDA ITEM 71, 72 AND 73.
I MAKE A JOINT ED, UH, ECONOMIC DEVELOPMENT CORPORATION AND COMMUNITY, UH, COTTONWOOD DEVELOPMENT CORPORATION MOTION TO APPROVE THE RESOLUTION PRESENTED ABOVE APPROVING THE PURCHASE AND SALE AGREEMENT BETWEEN THE ECONOMIC DEVELOPMENT CORPORATION TYPE B AND THE COTTONWOOD DEVELOPMENT CORPORATION TO CONVEY THE 250 ACRES OF LAND APPROVING THE OFFER AND THE ACCEPTANCE OF THE PURCHASE AND SELL AGREEMENT AND AUTHORIZING THE HT D C CHAIR AND THE CITY MANAGER SERVING THE CEO O TO THE COTTONWOOD DEVELOPMENT CORPORATION TO
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EXECUTE OUR RELATED CLOSING DOCUMENTS TO EXECUTE THE CELL AS PRESENTED.SECOND, WE HAVE A MOTION FROM THE HEAD ECONOMIC DEVELOPMENT CORPORATION AND I'LL SECOND FOR COTTONWOOD DEVELOPMENT CORPORATION.
ANY FURTHER DISCUSSION FOR THE HEAD ECONOMIC DEVELOPMENT CORPORATION ROLL CALL PLEASE.
MOTION CARRIES, UH, SIX OH AND FOR COTTONWOOD DEVELOPMENT CORPORATION.
UH, BOARD MEMBER IRISH MENDEZ.
UH, DISCUSS AND CONSIDER A RELEASE OF AN OPINION LETTER ISSUED BY CORPORATE COUNCIL IN SUPPORT OF THE ALLIANCE BANK LOAN OBTAINED FOR THE PURCHASE OF APPROXIMATELY 250 ACRES FROM THE COTTONWOOD DEVELOPMENT CORPORATION.
DISCUSSION, THERE BEING NO DISCUSSION.
A MOTION TO BE IN ORDER, UH, MOTION TO AUTHORIZE A RELEASE OF AN OPINION LETTER REGARDING THE VALIDITY OF THE ALLIANCE BANK LOAN NECESSARY TO OBTAIN THE LOAN OBTAINED FOR THE PURCHASE OF APPROXIMATELY TWO 50 ACRES OF REAL PROPERTY FROM THE COTTONWOOD DEVELOPMENT CORPORATION.
ANY FURTHER DISCUSSION? ROLL CALL PLEASE.
CHAIRMAN, ARIS MENDEZ, VICE CHAIR CARLSON.
THERE BEING NO FURTHER BUSINESS BEFORE THE HUDDLE.
WE CAN ALL DO HAVE A CORPORATION.
AND COTTONWOOD DEVELOPMENT CORPORATION HAS NO FURTHER BUSINESS.
WE ARE ADJOURNED AT 5:57 PM OH REALLY?