SHERMAN ECONOMIC DEVELOPMENT CORPORATION

MINUTES OF THE BOARD OF DIRECTORS

SPECIAL MEETING OF FEBRUARY 17, 2006

BE IT REMEMBERED THAT A Meeting of the Sherman Economic Development Corporation Board of Directors

convened in the SEDCO Board Room at 307 W. Washington Street, Sherman, Texas, on February 17, 2006 at 8:30 a.m.

MEMBERS PRESENT: / Nat McClure, Wendell Williams, Andy Olmstead, Greg Kirkpatrick
MEMBERS ABSENT: / Joe Fallon, Jr.
SEDCO STAFF PRESENT: / John Boswell, Frank Gadek, Darlene Brown
GUESTS PRESENT: / Jeff Miller, Jim Shankles, Scott Wall

CALL TO ORDER, QUORUM DETERMINED, MEETING DECLARED OPEN, RECOGNITION OF GUESTS AND VISITORS

McClure called the meeting to order at 8:30 a.m., declared a quorum present and opened the meeting.

CONSIDER APPROVAL OF THE HOWE DRIVE RECONSTRUCTION PROJECT

Shankles began by explaining the scope of the Howe Drive project. He said the engineering firm sought by the city, Chiang, Patel & Yerby, Inc., would be responsible for engineering services that would include project management and administrative tasks; field surveying; engineering design; preparation of plans and specifications; computing of construction quantities; and preparation of an opinion of probable costs for the widening and reconstruction of Howe Drive from FM 1417 southward approximately 0.8 miles. He said city staff has hired another firm who is in the process of designing the layout of Loy Lake Road, and proposed that the SEDCO board and staff review and approve an engineering services agreement with Chiang, Patel & Yerby, Inc.

The Howe Drive project construction will replace approximately 1,580 linear feet of 37’ concrete pavement with a similar section, and approximately 800 linear feet of 24’ wide asphalt pavement with a 24’ concrete section. The 37’ section will include curbs, gutters and an enclosed storm sewer system. The 24’ concrete section will not have curbs and gutter, and the storm runoff will be directed toward existing drainage ditches through surface grading. Approximately 800 linear feet of an existing 10” water line will be relocated along this section as well. The existing 1,800 linear feet of concrete pavement between these two sections will not be impacted by the construction.

Miller explained that the city was in the process of upgrading Loy Lake Road from Taylor Street to Highway 82. City staff has come up with a strategy to do both the Loy Lake Road project, as well as SEDCO’s Howe Drive project at the same time. He said the strategy would be to assign both projects to different engineering consulting firms and request that both firms have the same time frame to finish the design work, which he anticipates to be no later than the first week of June. The advantage of combining both projects would be that the city could send out construction bids at the same time which would allow a better price and attract more bidders.

The total cost for the engineering and design phase for the Howe Drive extension project by Chiang, Patel & Yerby, Inc. would be $112,700.00 and a cost of approximately $900,000 for the construction phase. Shankles said he anticipates that the entire project will be completed no later than November.

Williams asked if the new road construction was going to be built to last for several years, especially since Tyson’s employment base will triple within the next few years. Shankles said that the new concrete road will be designed to last.

Boswell said he felt that the Howe Drive extension project was a good project for SEDCO and one that will not only benefit existing industries, but also provide better access to our industrial parks and to businesses that use Howe Drive as its primary access point to Highway 1417.

Olmstead made a motion to approve the engineering services agreement with Chiang, Patel & Yerby, Inc. in the amount of $112,700.00; second by Williams.

BOARD MEMBER COMMENTS

McClure said he would like to add an item to the March agenda to discuss and ask questions about the Grayson County Airport.

Olmstead asked if new board appointments would be made during the March meeting. Boswell said new appointments will be made in September, although the board will need to appoint a new chairman in April since McClure plans to give up his position, but will stay on the board until September.

McClure told board members that he appreciated their different thoughts and opinions because it makes for a healthy board.

ADJOURNMENT

No further business came before the Sherman Economic Development Corporation. Motion was made by Williams to adjourn the meeting; second by McClure. The meeting adjourned at 9:10 a.m.

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SEDCO CHAIRMAN

ATTEST:

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SEDCO SECRETARY