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BM 2010-11-17 CEDF COPPELL ECONOMIC DEVELOPMENT FOUNDATION November 17, 2010 MINUTES The Coppell Economic Development Foundation met at 5:30 p.m. on Wednesday, April 7, 2010 at Coppell Town Center, Lobby Conference Room, 255 Parkway Boulevard, Coppell, Texas 75019. The following were present: Bill Rohloff, Gary Roden, James Walker, Kenneth Luttmer ,Mindi Hurley, Scarlett Hovland, and City Attorney Kevin Laughlin. Call to Order 1.  James Walker called the meeting to order at 5:30 p.m. Approval of Minutes: July 23, 2008 2.  Gary Roden made a motion to approve the minutes from April 7, 2010. Bill Rohloff seconded the motion. The motion passed unanimously. Discuss and authorize the President to negotiate and execute a purchase and sale agreement, and 3. any necessary agreements and instruments related thereto, with the City of Coppell for the purchase of Lot 1, Block A; Lot 1, Block B; Lot 1 Block C, Lot 1, Block D; Lot 1, Block E; Lot 1, Block F; and Lot 2, Block G of the Old Town Addition, City of Coppell, Texas, for the resale of such property to CSE Commercial Real Estate, L.P. for the development of a mixed-use center.  City Attorney Kevin Laughlin reviewed the purchase and sale agreement with the committee.  It was moved by Kenneth Luttmer and seconded by Bill Rohloff that the President or any other officer of the Corporation be authorized to sign on behalf of the Coppell Economic Development Foundation, the Purchase and Sale Agreement with the City of Coppell presented at today’s meeting, inclusive of the clerical changes discussed, for the purchase of Lot 1, Block A; Lot 1, Block B; Lot 1, Block C; Lot 1, Block D; Lot 1, Block E; Lot 1, Block F; and Lot 2, Block G of the Old Town Addition, City of Coppell, Texas, for the resale of such property to CSE Commercial Real Estate, L.P. for the development of a mixed-use center, and that the President or other officer also be authorized, in consultation with the Corporation’s attorney, to sign such other agreements and documents deemed reasonable and necessary with respect to the closing of this approved transaction.  The newly elected President will sign the agreement following the meeting. Discuss and consider approving an Option Agreement between the Coppell Economic Development 4. Foundation and CSE Commercial Real Estate, L.P. regarding the sale of Lot 1, Block A; Lot 1, Block B; Lot 1, Block C; Lot 1, Block D; Lot 1, Block E; Lot 1, Block F, and Lot 2, Block G of the Old Town Addition, City of Coppell, Texas, approximately 10.06 acres of land, for the future development of a mixed-use center and authorize the President to sign.  City Attorney Kevin Laughlin reviewed the Option Agreement with the committee.  It was moved by Kenneth Luttmer and seconded by Gary Roden that the President be authorized to sign on behalf of the Coppell Economic Development Foundation, the Option Agreement with to CSE Commercial Real Estate, L.P. presented at today’s meeting, inclusive of the clerical changes discussed, for the sale of Lot 1, Block A; Lot 1, Block B; Lot 1, Block C; Lot 1, Block D; Lot 1, Block E; Lot 1, Block F; and Lot 2, Block G of the Old Town Addition, City of Coppell, Texas, for the development of a mixed-use center, and that the President or other officer also be authorized, in consultation with the Corporation’s attorney, to sign such other agreements and documents deemed reasonable and necessary with respect to the closing of this approved transaction.  The newly elected President will sign the agreement following the meeting. With no further business to discuss, it was moved by Bill Rohloff and seconded by Kenneth Luttmer that the meeting adjourn. By unanimous vote, the meeting was adjourned at 6:00 p.m. Respectfully submitted, Scarlett Hovland Secretary