Agenda for Monday, May 15, 2006

NOTICE OF MEETING OF
THE NEDERLAND ECONOMIC DEVELOPMENT CORPORATION

PURSUANT TO § 551.041 OF THE OPEN MEETINGS ACT, NOTICE IS HEREBY GIVEN THAT THE NEDERLAND ECONOMIC DEVELOPMENT CORPORATION WILL CONVENE AT 5:30 P.M. MONDAY, MAY 15, 2006 AT THE NEDERLAND ECONOMIC DEVELOPMENT CORPORATION OFFICE, 1903 ATLANTA AVENUE, NEDERLAND, TEXAS, FOR THE FOLLOWING PURPOSES:

1. CALL THE MEETING TO ORDER
    
2. APPROVE THE MINUTES OF PREVIOUS MEETING
    
3. FINANCIAL REPORT

   Review and discuss current financial status of the Nederland Economic Development Corporation.

4. INCENTIVE CONTRACTS
    
   1. Consider action approving an incentive contract with Golden Triangle Specialty Medical Center doing business as Promise Specialty Hospital of Southeast Texas for the development of a hospital at Highway 365 and 27th Street, Nederland, Texas.
       
   2. Consider action approving an incentive contract with Aesha, L.L.C. for the development of a hotel located on Beauxart Garden Road and Highway 69.
       
5. EXECUTIVE SESSION

   The Board of Directors will announce that it will go into Executive Session, pursuant to Chapter 551 of the Texas Government Code, to discuss matters as specifically listed on the agenda:

   ^* CLOSED MEETING (EXECUTIVE SESSION)

   "A Closed Meeting or Executive Session will now be held pursuant to the following sections of Chapter 551 of the Texas Government Code".

   Section 551.071 - Litigation and/or legal advise
   Section 551.072 - Land
   Section 551.087 - Deliberations regarding Economic Development Incentives

   1. Consultation with NEDC Attorney - Texas Government Code, Chapter 551.071
       
      1. Discuss contemplated litigation.
          
   2. Real Property - Texas Government Code, Chapter 551.072
       
      1. Discuss potential acquisition, exchange, and/or release of property.
          
   3. Economic Development Negotiations - Texas Government Code, Chapter 551.087
       
      1. Discuss and/or deliberate concerning financial and/or commercial information received from potential business prospects regarding potential economic development incentive(s); and
          
      2. Discuss and/or deliberate the offer of incentive(s) to business prospects.
          

   ^* The items in Executive Session may be discussed and acted on in Open Session

6. RECONVENE

   Reconvene into regular session and consider action, if any, on items discussed in Executive Session.

7. COMMUNICATION

   Receive comments from President, Board of Directors and Interim Executive Director.

8. ADJOURN

THE NEDERLAND ECONOMIC DEVELOPMENT CORPORATION IS COMMITTED TO COMPLIANCE WITH THE AMERICANS WITH DISABILITIES ACT, REASONABLE MODIFICATIONS AND EQUAL ACCESS TO COMMUNICATIONS WILL BE PROVIDED UPON REQUEST.

END Agenda for Monday, May 15, 2006