10/19/2015-4A-Minutes-Regular
MINUTES: 4A Sanger Industrial Development Corporation
October 19, 2015
MEMBERS
PRESENT: Fred Yeats, John Jacobs, Elizabeth Springer, and Don Gillum
MEMBERS
ABSENT:
OTHERS
PRESENT: City Manager Mike Brice Director of Economic Development Alina Ciocan, Administrative Assistant
Jennifer Shumate
1. Call Meeting to Order.
Meeting called to order at 1:13PM.
2. Executive Session: Closed Meeting
Pursuant to the Open Meetings Act, Chapter 551, the Sanger Industrial Development Corporation Board
Will Meet in a Closed Executive Session in Accordance with the Texas Government Code:
Section 551.072 – Deliberations Regarding Real Property
Presentations were made by both Defender and Hollingsworth regarding the sale of 103-131 Bolivar Street.
3. Reconvene: Open Meeting
Elizabeth Springer moves that there is a tentative approval of the sale of properties located at 103-131 Bolivar
to Hollingsworth Manufacturing or assigns for price agreed to in Executive Session and authorize the
City Manager to take the necessary steps and make the necessary expenditures from 4A funds to complete the
sale. The sale being contingent on the appraised value and execution of development agreements among the
Sanger Industrial Development Corporation, the City of Sanger, and Hollingsworth Manufacturing or assigns
provided this closing occurs within 90 days of acceptance of the contract.
Mr. Fred Yeats seconded the motion and the motion carried unanimously.
4. Approve Minutes: July 20, 2015
Minutes approved unanimously after a motion to approve by John Jacobs and a second by Elizabeth Springer.
5. Review Financials.
6. Meeting Adjourned.