Votes at a glance: Abilene council approves collateral agreement, carries consent agenda; one abstention recorded

The Abilene City Council approved a collateral agreement with JPMorgan Chase related to a tax abatement assignment, carried its consent agenda (items 4 through 13) with one abstention on item 10, and recessed into executive session for attorney consultation and other matters.

Robert Hanna, presenting item 14, described a collateral agreement requested by Lansing LLC and Abilene DC 1 LLC that would allow a lienholder to receive the benefits of an existing tax abatement in the event of a loan default. Hanna said the agreement does not alter the tax abatement itself and that any subsequent assignment would still require council approval.

Councilman Beard moved approval of the collateral agreement; Councilman Reagan seconded. The motion carried with a recorded vote of “all yeses” during the meeting’s vote. The county-level counterpart (Taylor County Commissioner’s Court) had already approved its portion, Hanna said.

Earlier, the council took a single motion on the consent agenda covering items 4 through 13, except item 9 which was pulled for discussion. Councilman Yates moved the consent agenda with a second by Councilman Beard. The motion carried; the meeting record shows an abstention recorded on item 10 (the speaker did not identify by name on the record who abstained). The city clerk indicated the abstention would be recorded in the minutes.

The council recessed into executive session at 9:28 a.m. under several Texas Open Meetings Act sections including attorney consultation (Sec. 551.071), deliberation about real property (Sec. 551.072), and economic development deliberations (Sec. 551.087). The council reconvened at 10:05 a.m. and announced no votes or actions were taken during executive session. The meeting then adjourned.