Type A Economic Development Corporation Board

MINUTES TYPE A ECONOMIC DEVELOPMENT CORPORATION BOARD COUNCIL CHAMBERS OCTOBER 10, 2022 6:30 PM PRESENT STAFF President Shelly Anderson Mike Peacock, City Manager Director Joe Hollarn Molly Martin, EDC Director Director Linda Childers Alice Holloway, City Secretary Director Josh Burns ABSENT Director David Morgan Director Esley Henderson Director Aleshia Heyes The Joshua Type A Economic Development Corporation held a Regular Meeting in the Council Chambers, located at 101 S. Main St., Joshua, Texas, on October 10, 2022. This meeting is subject to the open meeting laws of the State of Texas. Individuals may attend the Joshua Type A EDC meeting in person or access the meeting via videoconference or telephone conference call. Join Zoom Meeting: https://us02web.zoom.us/j/89023808808?pwd=bWsxZ0tmL2hmR0pxVTJ5SHhsVDRhUT09 Meeting ID: 89023808808 Passcode: 280589 A member of the public who would like to submit a question on any item listed on this agenda may do so via the following options: Online: An online speaker card may be found on the City’s website (cityofjoshuatx.us) on the Agenda/Minutes/Recordings page. Speaker cards received will be read during the meeting in the order received by the City Secretary. By phone: Please call 817/558-7447 ext. 2003 no later than 5:00 pm on the meeting day and provide your name, address, and question. The City Secretary will read your question in the order they are received. A. CALL TO ORDER AND ANNOUNCE A QUORUM PRESENT Director Anderson announced a quorum and called the meeting to order at 6:30 pm. B. CITIZENS FORUM The Economic Development Corporation invites citizens to speak on any topic. However, unless the item is specifically noted on this agenda, the Economic Development Corporation is required under the Texas Open Meetings Act to limit its response to responding with a statement of specific factual information, reciting the City’s existing policy, or directing the person making the inquiry to visit with City Staff about the issue. No Corporation deliberation is permitted. Each person will have 3 minutes to speak. Type A Economic Development Corporation BoardOctober 10, 2022 Page 1 of 4  NA C. REGULAR AGENDA 1. City Secretary to administer Oath of Office to newly appointed director(s). City Secretary Holloway administered the oath of office to the newly appointed directors. 2. Discuss, consider, and possible action on the appointment of the following positions for a one-year term:  President  Vice President  Secretary  Treasurer Director Hollarn moved to make the following appointments:  President- Shelly Anderson  Vice President- Linda Childers  Secretary- Josh Burns  Treasurer- Joe Hollarn Director Burns seconded the motion. The motion passed unanimously. 3. Review and discuss questions related to the budget report and financial statement for September 2022. (Staff Resource: M. Peacock) City Manager Mike Peacock presented the September 2022 Financial statement. City manager Peacock stated that $145,000 budgeted funds was not spent during the 2021-22 Budget. 4. Discuss, consider, and possible action on meeting minutes of September 12, 2022. (Staff Resource: A. Holloway) Director Hollarn moved to approve the meeting minutes of September 12, 2022. Director Childers seconded the motion. The motion passed unanimously. 5. Discuss, consider, and possible action on a contract to purchase approx. 3.73 acres of land for a Dinosaur Museum in Joshua Station. (Staff Resource: M. Martin) EDC Director Martin stated that staff got had a few adjustments made to the contract. The total cost is $9.00 per sq. ft., $1,393,461 total. In addition, she stated that staff is discussing with Pinnacle Bank regarding not having prepayment penalties. Director Hollarn asked if we are just buying the land. EDC Director Martin answered yes, only the land, they will be responsible for everything else. Director Hollarn asked if we have a contract with them yet, EDC Director Martin answered no, but we do have a verbal. Director Hollarn asked how much we are financing. EDC Director Martin answered 100%. Director Hollarn asked how many years is being financed. EDC Director Martin answered it is still in discussion. Director Hollarn asked who has the drainage pond. City Manager Peacock stated that it was on this property. Type A Economic Development Corporation BoardOctober 10, 2022 Page 2 of 4  Director Burns asked what the branding is? EDC Martin stated that they are still discussing what is on the building and in the name. City Manager Peacock stated that the vision is to have the city logo on the building. Director Burns asked if council needs to approve, City Manager Peacock answered yes and stated that the council supports this project. EDC Director Martin stated that the building will be a 30,000 sq. ft. building and very classy. Director Hollarn asked what is in the contract? What if the museum closes, does the city get their money back? EDC Director Martin answered no, it has not been discussed. Director Hollarn stated that he believes it should be in the contract. Director Hollarn moved to approve the expenditure of $1,393,461 to purchase approx. 3.73 acres of land for a Dinosaur Museum. Director Childers seconded the motion. The motion passed unanimously. D. EXECUTIVE SESSION 1. The Type A Economic Development Corporation of the City of Joshua will recess into Executive Session (Closed Meeting) pursuant to the provisions of chapter 551, Subchapter D, Texas Government Code, to discuss the following: a. Pursuant to Section 551.072 of the Texas Government Code to discuss or deliberate the purchase, exchange, lease, or value of real property. Director Anderson announced the EDC Type A will recess the regular meeting to meet in Executive Session at 6:58 pm. E. RECONVENE INTO EXECUTIVE SESSION 1. In accordance with Texas Government Code, Section 551, the Type A Economic Development Corporation will reconvene into regular session and consider action, if any, on matters discussed in executive session. Director Anderson opened the Regular Meeting at 720 pm. Director Hollarn moved to approve expenditure discussed in executive session. Director Burns seconded the motion. The motion passed unanimously. F. FUTURE AGENDA ITEMS/REQUESTS BY DIRECTORS TO BE ON THE NEXT AGENDA (Members shall not comment upon, deliberate, or discuss any item that is not on the agenda. Members shall not make routine inquiries about operations or project status on an item that is not posted. However, any Members may state an issue and a request that this issue is placed on a future agenda.) G. ADJOURN Director Anderson adjourned the meeting at 7:29 pm. ____________________________ Shelly Anderson, President Type A EDC _____________________________ Alice Holloway, City Secretary Type A Economic Development Corporation BoardOctober 10, 2022 Page 3 of 4  Approved: November 14, 2022 Type A Economic Development Corporation BoardOctober 10, 2022 Page 4 of 4