04-17-2018 Board Meeting Minutes

i-GATE Development Corporation Board Meeting Tuesday, April 17, 2018 12:00-1:30pm Meeting Called to Order by Chairman Buck Koonce at 12:10pm In attendance: 1. Stephanie Beasly representing Sandia 2. Mayor Jerry Thorne representing Pleasanton 3. Buck Koonce (Board Chair) representing LLNL 4. Mayor John Marchand representing Livermore 5. Mayor David Haubert (Secretary) Representing Dublin 6. Vice Mayor Newell Arnerich representing Danville (arrived at 12:58pm) Not in attendance: Sblend Sblendorio (Board Counsel) Citizens Forum None Minutes/Financials Motion to accept March 14 and April 21, 2016, Meeting Minutes 1st: Mayor John Marchand 2nd: Mayor Jerry Thorne Vote: Unanimous Motion to accept i-GATE Development Corporation Financials 1st: Mayor David Haubert 2nd: Mayor Jerry Thorne Vote: Unanimous Motion to accept fianancials Vote: Unanimous Annual election of officers Mayor John Marchand nominated Stephanie Beasly for Board Chair 2nd: Buck Koonce Vote: Unanimous Mayor Jerry Thorne nominated Mayor John Marchand for Secretary 2nd: Mayor David Haubert Vote: Unanimous By acclimation, board votes to have Brandon Cardwell continue in role of treasure?

Vote: Unanimous Executive Director’s report

Brandon Cardwell provided an update on the previous year’s accomplishments and upcoming year’s planned activities and goals; see included Executive Report for details.

Discussion of Switch Labs Bio Program Cardwell introduced the Switch Labs bio program, aimed at removing barriers to life science entrepreneurs starting new companies.

Discussion of options for taking equity in member companies Cardwell led a discussion of different options for taking equity in member companies. One option includes partnering with an investment firm to hold the equity while i-GATE provides supportive resources to the companies. Greg Hitchan from Tri-Valley Ventures was present at the meeting and expressed openness to exploring the concept. Item to be brought back to a future meeting after initial feasibility is evaluated.

Discussion of i-GATE Partner Agreement Board discussion of what terms to include in a partner agreement between i-GATE and its funding partners.

Matters Initiated Request for more frequent meetings and to include the economic development staff from each of the partner cities.

Meeting adjourned