HomeMy WebLinkAbout09/24/2024-4B-Minutes-Regular4B Minutes 09-24-2024
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4B DEVELOPMENT CORPORATION
MEETING MINUTES
SEPTEMBER 24, 2024, 6:00 PM
4B DEVELOPMENT CORPORATION REGULAR MEETING
DEVELOPMENT SERVICES BUILDING - 201 BOLIVAR STREET, SANGER, TEXAS 76266
CALL THE REGULAR MEETING TO ORDER AND ESTABLISH A QUORUM
As there was a quorum John Payne called the meeting to order at 6:00 p.m.
BOARD MEMBERS PRESENT
Board Member, Place 1 Lee Allison
Board Member, Place 2 John Payne
Board Member, Place 3 Matt Fuller
Board Member, Place 4 Beverly Howard
Board Member, Place 7 Carrie Bilyeu
BOARD MEMBERS ABSENT
Board Member, Place 5 Jeff Springer
Board Member, Place 6 Eddie Piercy
STAFF MEMBERS PRESENT
Director of Economic Development Shani Bradshaw, Secretary Shelley Warner
INVOCATION AND PLEDGE
Invocation was led by Board Member Springer. Pledge was led by Board Member Howard.
CITIZENS COMMENTS
No citizens came forward to speak.
4B Minutes 09-24-2024
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CONSENT AGENDA
1. Consideration and possible action on 4B minutes from 08/27/2024.
Motion to approve the consent agenda as shown was made by Board Member Bilyeu.
Seconded by Board Member Howard.
Voting Yea: Board Member Payne, Board Member Fuller. Board Member Allison
abstained from the vote. The motion passes unanimously.
PUBLIC HEARING ITEMS
2. Conduct a Public Hearing on financial incentives to Randall’s Food & Drugs, LP in the
amount not to exceed One Million Dollars ($1,000,000) in exchange for performance
obligations to the 4B Sanger Texas Development Corporation
Board Member Payne opened the Public Hearing at 6:01 p.m.
Director Shani Bradshaw provided an overview of the item.
Board Member Payne closed the Public Hearing at 6:02 p.m.
ACTION ITEMS
3. Consideration and possible action to approve and authorize the execution of a
Performance Agreement with Randall’s Food & Drugs, LP, to provide financial
incentives in the amount not to exceed One Million Dollars ($1,000,000) in exchange
for economic development obligations to the 4B Sanger Texas Development
Corporation, subject to City Council approval.
Director Bradshaw went over the Agreement with the Board.
Board Member Allison asked about the terms of the Agreement, and Director Bradshaw
went over the terms outlined in the Agreement.
Motion to approve and authorize the execution of a Performance Agreement with
Randall’s Food & Drugs, LP, to provide financial incentives in the amount not to exceed
One Million Dollars ($1,000,000) in exchange for economic development obligations to
the 4B Sanger Texas Development Corporation was made by Board Member Fuller.
Seconded by Board Member Bilyeu.
Voting Yea: Board Member Allison, Board Member Payne, and Board Member Howard.
The motion passes unanimously.
FUTURE AGENDA ITEMS
No future items were discussed.
4B Minutes 09-24-2024
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ADJOURN
As there were no further items on the agenda Board Member Payne adjourned the
meeting at 6:12 p.m.