01/10/2012-4A-Agenda Packet-Regulari�
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AGENDA
41-1 SANGER INDUSTRIAL DEVELOPMENT CORPORATION
TUESDAY9 JANUARY 109 2012
1000 P.M.
502 ELM
Call Meeting to Order.
Approval of Minutes: August 12, 2011
Consider, Discuss and Possibly Act on
Hollingsworth Manufacturing,
Review Financials.
Adjourn.
Proposed Lease of 103 Bolivar to
I, the undersigned authority, do hereby certify that this Notice of Meeting was posted on
the bulletin board, at the City Hall of the City of Sanger, Texas, a place convenient and
readily accessible to the gener public at all times, and said notice was posted on the
following date and time: s .2
and shall remain posted until i eeting is djourned.
:D Um L
Tami Taber, City Secretarx 1� r
City of Sanger, Texas
XAS
11111111111100%
This facility is wheelchair accessible and accessible parking spaces
ai•e available
accommodations or interpretive services must be made 48 hours prior to
contact the City Secretary's office at (940) 458-7930 for further information.
Requests for
this meeting. Please
•
AGENDA
4A SANGER INDUSTRIAL DEVELOPMENT CORPORATION
TUESDAY, JANUARY 10, 2012
1:00 P.M.
502ELM
1. CallMeeting to Order.
2. Approval of Minutes: August 12, 2011
3. Consider, Discuss and Possibly Act on Proposed Lease of 103 Bolivar to
Hollingsworth Manufacturing.
4. Review Financials.
5. Adjourn.
I, the undersigned authority, do hereby certify that this Notice of Meeting was posted on
the bulletin board, at the City Hall of the City of Sanger, Texas, a place convenient and
readily accessible to the gener public at all times, and said notice was posted on the
following date and time: · • ':2> at JI: !Jo A:_.m.
and shall remain posted until eeting is tljourned.
\\ \\I 11111 II II// 1 __ . JZib: ..._,,,~,, OF SJl 1111,,., \(~QA L V ❖--,(,_·l ........... :'\IQ~
------~-f() w· · .. , ..... ,~-T~mi Taber, City SecretatJff· / _____ -.-· \"f>.\
City of Sanger, Texas ~ : ·· · ----: ~
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1111111111111\\\\
This facility is wheelchair accessible and accessible parldng spaces are available. Requests f m•
accommodations or inte1·p1·etive services must be made 48 hou1·s pl'ior to this meeting. Please
contact the City Secretary's office at (940) 458-7930 for further information •
•
MINUTES: 4A
SANGER TEXAS INDUSTRIAL DEVELOPMENT CORPORATION
August 12, 2011
MEMBERS
PRESENT: Vickie Jenkins, Don 'Gillum, Carroll McNeill, Fred Yeatts, John Jacobs
OTHERS
PRESENT: Mike Brice City Manager, Tami Taber City Secretary, Steve Watkins of Elk
River and Matt Soltis
1. Call Meeting to Order.
Vickie Jenkins called meeting to order at 9:30 a,m,.
2. Approval of Minutes: June 7, 2011
Don Gillum made a motion to approve minutes. Seconded by Fred Yeatts. Motion
carried unanim~usly.
3. Election of Officers.
Don Gillum nominated Vickie Jenkins as President. Seconded by Carroll McNeill.
Motion carried unanimously.
Fre,l Yeatts nominated Don Gillum as Vice-President. Seconded by Carroll
McNeill. Motion carried unanimously.
4. Discuss, Consider and Approve 2011/2012 Budget.
s.
City Manager noted that the transfer line item amount in the expenditure summary
should be $15,500 not $18,000 as s11own.
Carroll McNeill made a motion to approve. Seconded by Don Gillum. Motion
carried unanimously.
Discuss, Consider and Approve Lease Terms for 103 Bolivar and Authorize City
Manager to Execute a Lease.
Don Gillum made a motion to approve, subject to the changes in terms of the lease
discussed then City Manager can execute. Seconded by Fred Yeatts. Motion
carried unanimously •
•
6. Review Financials.
City Manager advised that revenues are still up and the last sales tax payment was
$94,000.
7. Adjourn.
Meeting was adjourned at 10:07 a.m •
Hollingsworth Manufacturing
103 Bolivar Lease
Deal Points
39 Month Lease with the first three months free rent, beginning February 1, 2012.
® $2.00/sf base rent.
® Tenant to provide finish out of approximately $160,000. Reimbursed $70,000 amortized over
the term of the lease in rent reduction.
® No upfront cash or incentives included in the deal.
® Tenant has option to buy at $1,250,000 throughout the term of the lease.
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