Meeting Minutes from Thursday, January 25, 2007

NEDERLAND ECONOMIC DEVELOPMENT CORPORATION

Minutes
January 25, 2007

MEETING

A meeting of the Nederland Economic Development Corporation was called to order at 5:30 p.m. at the Nederland Economic Development Corporation Office, 1903 Atlanta Avenue, by Vice President Paul Baker.

QUORUM

Board members present: Paul Baker, Billy Neal, R.A. Nugent, Nick Phillips and Bert Rogers. Absent: Larry Ducharme and Mike Guidry. Others present: Jim Wimberley, NEDC Attorney; Tracie Killian, Executive Director and Marlinda Eastberg, Secretary, NEDC.

EXECUTIVE SESSION

The regular meeting was recessed at 5:31 p.m. by Vice President Paul Baker for the purpose of conducting an Executive Session as authorized by the Texas Government Code, Chapter 551.087, to discuss the offer of an incentive to a business prospect; Texas Government Code, Chapter 551.071 to discuss litigation and/or legal advise; and Texas Government Code, Chapter 551.072, to discuss acquisition, exchange, and/or release of property.

RECONVENE

The regular meeting was reconvened by Vice President Paul Baker at 6:00 p.m. Vice President Paul Baker announced no action is needed on Texas Government Code, Chapter 551.072, discuss potential acquisition, exchange, and/or release of property, and Texas Government Code, Chapter 551.071, to discuss contemplated litigation.

Vice President Paul Baker announced the following action on Texas Government Code, Chapter 551.087, to discuss the offer of an incentive to a business prospect.

Motion made by Bert Rogers and seconded by Dick Nugent to extend the Purchaser's Inspection period for the Highway 69 / Beauxart Garden Road property with Charlie Shears, SDI Realty until December 31, 2007. Motion carried.
Ayes: Baker, Neal, Nugent, Phillips and Rogers.
Noes: None. Absent: Ducharme and Guidry.

ADJOURN

There being no further business, a motion was made by Dick Nugent and seconded by Billy Neal that the meeting be adjourned at 6:01 p.m. Motion carried.
Ayes: Baker, Neal, Nugent, Phillips and Rogers.
Noes: None. Absent: Ducharme and Guidry.

END Meeting Minutes from Thursday, January 25, 2007