STRATEGIC PRIORITY: Economic Development
AGENDA DATE: October 23, 2024
COUNCIL DISTRICT(S): All
DEPARTMENT: Office of Economic Development
EXECUTIVE: Robin Bentley
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SUBJECT
Title
Authorize approval of two nominees to fill two vacancies on the Dallas Economic Development Corporation Board of Directors - Financing: No cost consideration to the City
Body
BACKGROUND
On January 12, 2022, the City Council authorized the establishment of the City of Dallas Economic Development Corporation (EDC), a non-profit local government corporation formed for the purpose of aiding and acting on behalf of the City of Dallas and approved the EDC’s Certificate of Formation and Bylaws by Resolution No. 22-0168. On August 24, 2022, the City Council approved 15 nominees to serve as the initial Directors of the EDC Board by Resolution No. 22-1211.
Currently, the EDC Board has two vacancies for the positions formerly held by Kim Noltemy and Linda McMahon. Under the current Bylaws, “any vacancy occurring in the office of a Director, whether by death, resignation, removal, or otherwise, shall be filled for the unexpired portion of the former occupant’s term by nomination of candidates by the Board in consultation with the Nominating Committee, and approval by the Dallas City Council.”
On September 12, 2024, in consultation with the Nominating Committee, the Board recommended Chris Heinbaugh and Ambassador Jeanne Phillips to serve as the two new Directors of the Board.
Upon City Council approval, Chris Heinbaugh will assume the term that expires on August 24, 2025, and Ambassador Jeanne Phillips will assume the term that expires on August 24, 2027. No Director may serve for more than eight consecutive years.
PRIOR ACTION/REVIEW (COUNCIL, BOARDS, COMMISSIONS)
On January 12, 2022, the City Council authorized (1) establishment of the City of Dallas Economic Development Corporation (the EDC), a non-profit local government corporation to be formed for the purpose of aiding and acting on behalf of the City of Dallas (City); (2) approval of the EDC's Certificate of Formation and Bylaws; (3) approval of the appointment of the EDC's interim Directors, as set out in the Certificate of Formation; (4) approval to file the EDC’s Certificate of Formation with the Texas Secretary of State; (5) approval of an interlocal agreement between the City and EDC; (6) any expenditures incurred by the City before or after this action shall be reimbursed by the American Rescue Plan Act of 2021 (ARPA 2021) funds from the U.S. Treasury Department allocated for the EDC; and (7) funding allocation will be from ARPA U.S. Treasury Department in an amount not to exceed $7,000,000.00 over three years by Resolution No. 22-0168.
On August 24, 2022, the City Council approved fifteen nominees to serve as the initial Directors of the EDC Board by Resolution No. 22-1211.
The Economic Development Committee was briefed by memorandum regarding this matter on October 7, 2024. <https://cityofdallas.legistar.com/View.ashx?M=F&ID=13352199&GUID=B6209106-9FEF-4354-8C87-8D258070E834>
FISCAL INFORMATION
No cost consideration to the City.