[Getconnected] Bryan Commerce and Development, Inc., Board of Directors Meeting - December 11, 2007

[getconnected at bryantx.gov]

BRYAN COMMERCE AND DEVELOPMENT, INC.

 

Board of Directors Meeting

1:30 p.m., Tuesday, December 11, 2007

Room 305, Bryan Municipal Building 

300 South Texas Avenue, Bryan, Texas

 

 

AGENDA

 

 

1.    CALL TO ORDER 

 

2.    EXECUTIVE SESSION - The Bryan Commerce and Development, Inc.,
Board of Directors has determined the necessity to go into executive
session under the provisions of Section 551, Texas Government Code, and
the following topics may be discussed:

 

*	under the authority of Section 551.071, consultation with
attorney - seek advice of legal counsel regarding the conveyance of up
to 19.62 acres of land out of the Thomas J. Wooten League, Abstract No.
59, Bryan, Brazos County, Texas, to Bryan/Traditions, L.P., for proposed
Mixed-Use development, consult with attorney regarding legal rights and
obligations under various agreements for development within Tax
Increment Reinvestment Zone Number Ten, seek advice of attorney
regarding Bryan Commerce and Development, Inc., v. Intercap
Institutional Investors, L.L.C., filed in 361st Judicial District Court,
Brazos County, Texas, and seek legal advice regarding the possible
acquisition of land in central Bryan for economic development purposes; 
*	under the authority of Section 551.072, real estate -
deliberation regarding the conveyance of up to 19.62 acres of land in
west Bryan out of the Thomas J. Wooten League, A-59, Bryan, Brazos
County, Texas, to Bryan/Traditions, L.P., for proposed Mixed Use
development and discussion regarding the possible acquisition of land in
central Bryan for economic development purposes; and
*	under the authority of Section 551.087, economic development
negotiations - discussion regarding possible development in central
Bryan.

 

3.    OPEN SESSION FOR ACTION FOLLOWING EXECUTIVE SESSION, IF NECESSARY 

 

4.    CONSIDERATION - PARTIAL RELEASE OF MEMORANDUM OF RESIDENTIAL
DEVELOPMENT AGREEMENT

 

        Consider authorizing the President of Bryan Commerce and
Development, Inc., to execute a Partial Release of Memorandum of
Residential Development Agreement dated March 6, 2003.  (Partial Release
of Memorandum of Residential Development Agreement)

 

5.    CONSIDERATION - SUBORDINATION AGREEMENT TO THE MASTER ECONOMIC
DEVELOPMENT AGREEMENT

 

        Consider authorizing the President of Bryan Commerce and
Development, Inc., to execute a Subordination Agreement to the Master
Economic Development Agreement dated November 2, 1999, as amended by a
First Amendment to Master Economic Development Agreement dated
June 13, 2000, and a Second Amendment to Master Economic Development
Agreement dated February 24, 2004, to subordinate Bryan Commerce and
Development Incorporated's rights to a 19.62 acre tract of land (Parcel
3) to the first lien rights of M&I Marshall & Ilsley Bank.
(Subordination Agreement to the Master Economic Development Agreement)

 

6.    CONSIDERATION - SPECIAL WARRANTY DEED

 

        Consider authorizing the President of Bryan Commerce and
Development, Inc., to execute a special warranty deed and other
customary closing documents to convey a 19.62 acre tract to
Bryan/Traditions, L.P.  (Special Warranty Deed)

 

7.    CONSIDERATION - LOAN UNDER CHAPTER 380 OF THE TEXAS LOCAL
GOVERNMENT CODE

 

        Consider accepting a loan from the City of Bryan provided under
Chapter 380 of the Texas Local Government Code and accepting the terms
and conditions imposed by the City of Bryan for such loan for land
acquisition and related expenses to promote local economic development
and to stimulate business and commercial activity in central Bryan.

 

8.    CONSIDERATION - CONTRACTS FOR PURCHASE OF REAL PROPERTY

 

        Consider accepting assignments of and/or approving contracts for
the purchase of real property in central Bryan for economic development
purposes and authorizing the President of the Board to execute such
contracts and any and all closing documents and other customary
instruments related to the closing of the purchase of said real property
under such contracts, contingent upon funding by the City of Bryan.

 

9.    ADJOURN

 

 

FOR INFORMATION ON TDD, SIGN LANGUAGE INTERPRETATION, OR OTHER
TRANSLATION OR ACCESSIBILITY INFORMATION, PLEASE CONTACT THE CITY OF
BRYAN COMMUNICATIONS DIRECTOR WENDY WELDON AT 209-5120.  PLEASE TRY TO
CONTACT THE ABOVE PERSON AT LEAST 48 HOURS BEFORE THE SCHEDULED TIME OF
THE MEETING SO THAT YOUR REQUEST MAY BE ACCOMMODATED.  

 

 

To view the agendas with links, please click here:
<http://www.bryantx.gov/departments/?name=citysec_agendas> 

 

 

Wendy D. Weldon

Communications Director

City of Bryan

P.O. Box 1000 I Bryan, TX  77805

979.209.5120 (P) I 979.209.5106 (F)

www.bryantx.gov <http://www.bryantx.gov> 

 

-------------- next part --------------
An HTML attachment was scrubbed...
URL: http://listserv.bryantx.gov/pipermail/getconnected/attachments/20071206/402381ff/attachment-0001.htm