Meeting Minutes from Monday, June 18, 2007

NEDERLAND ECONOMIC DEVELOPMENT CORPORATION

Minutes
June 18, 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 President Larry Ducharme.

QUORUM

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

MINUTES

A motion was made by Nick Phillips and seconded by Billy Neal to approve the minutes of May 14, 2007. Motion carried.
Ayes: Baker, Ducharme, Guidry, Neal, Phillips and Rogers.
Noes: None. Absent: Nugent.

BUDGET

A motion was made by Bert Rogers and seconded by Nick Phillips to approve the 2007-2008 proposed budget for presentation to the City Council for their approval. Motion carried.
Ayes: Baker, Ducharme, Guidry, Neal, Phillips and Rogers.
Noes: None. Absent: Nugent.

FINANCIAL REPORTS

The Board reviewed the income and expenses for the NEDC ending April 30, 2007.

EXECUTIVE SESSION

The regular meeting was recessed at 5:45 p.m. by President Larry Ducharme 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 President Larry Ducharme at 6:19 p.m. President Larry Ducharme announced no action is needed on 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.

COMMUNICATION

Tracie Killian presented the Board with a written Executive Director's Report with each item detailing activities of the NEDC office since the last board meeting.

ADJOURN

There being no further business, a motion was made by Nick Phillips and seconded by Billy Neal that the meeting be adjourned at 6:20 p.m. Motion carried.
Ayes: Baker, Ducharme, Guidry, Neal, Phillips and Rogers.
Noes: None. Absent: Nugent.

END Meeting Minutes from Monday, June 18, 2007