Type A Economic Development Corporation Board

DocuSign Envelope ID: 9F212FDC-B64E-4F20-8E92-9D14CFC6E625 MINUTES TYPE A ECONOMIC DEVELOPMENT CORPORATION BOARD COUNCIL CHAMBERS DECEMBER 11, 2023 6:00 PM The Joshua Type A Economic Development Corporation will hold a Regular Meeting in the City Hall Council Chambers, located at 101 S. Main St., Joshua, Texas, on December 11, 2023. 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: A. CALL TO ORDER AND ANNOUNCE A QUORUM PRESENT Director Anderson announced a quorum and called the meeting to order at 6:00 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. NA C. REGULAR AGENDA 1. Discuss, consider, and possible action on the appointment of the following positions for a one-year term:  President  Vice President  Secretary  Treasurer Director Waldrip moved to appoint Shelly Anderson as President. Director Walden seconded the motion. The motion passed unanimously. Director Walden moved to appoint Linda Childers as Vice President. Director Anderson seconded the motion. The motion passed unanimously. Director Walden moved to appoint Johnny Waldrip as Secretary. Director Childers seconded the motion. The motion passed unanimously. Director Waldren moved to appoint Josh Burns as Treasurer. Director Keating seconded the motion. The motion passed unanimously. Type A Economic Development Corporation BoardDecember 11, 2023 Page 1 of 3 DocuSign Envelope ID: 9F212FDC-B64E-4F20-8E92-9D14CFC6E625 2. Discuss, consider, and possible action on the October 09, 2023, meeting minutes. Motion made by Director Waldrip to approve the minutes as presented. Seconded by Alternate 1 Keating. Voting Yea: President Anderson, Director Waldrip, Director Childers, Alternate 1 Keating, Alternate 2 Walden 3. Review and discuss questions related to the budget report and financial statement for November 2023. (Staff Resource: M. Peacock) City Manager Peacock stated that tax revenue is up. In addition, he stated that there are no large expenditure in the report. 4. Discuss, consider, and possible action on the business plan and funding for Station 1-7-4. Director Keating asked if this project was going to be run as a non-profit. Ms. Martin answered yes. Director Keating asked if we would be leasing it. Ms. Martin answered yes. In addition, she stated that the plan is to sell the project to a developer. Director Keating asked what the lease expectations are. Ms. Martin stated that it might be 3-day weekends, with possibly monthly leases. Director Keating stated that if the EDC Type A puts the money behind it, the biggest concern is the liability. Ms. Martin stated that she has been in discussion with several investors. Director Walden asked what the basic startup cost was. Ms. Martin answered 2.5 million. Director Keating stated that the start-up cost needs to be budgeted. Ms. Martin stated that the bids will be provided as soon as they are available. Director Keating asked how many units there would be. Ms. Martin answered 10. Director Jones asked if this is part of Phase 1. Ms. Martin stated that this is all of it. Director Anderson asked Ms. Martin what she was looking for tonight from the corporation. Ms. Martin answered with a lump sum of funds in the amount of $200,000. Director Jones asked if they would have the numbers in January. Ms. Martin answered -probably not. In addition, she stated that she is hoping to have material costs in February. Ms. Martin stated that the original cost was 3 million, but she insisted the cost be below 2.5 million. Director Jones asked if the staff would be managing the project. Ms. Martin stated it would be her, but she was having a conversation with the chamber. Director Waldrip asked where the funding would be coming from in the budget. City Manager Peacock answered the reserves. A motion was made by Director Waldrip to approve additional funding up to $200,000 for architectural design. Seconded by Director Childers. Voting Yea: President Anderson, Director Waldrip, Director Childers, Alternate 1 Keating, Alternate 2 Walden D. MONTHLY REPORT-NOVEMBER Type A Economic Development Corporation BoardDecember 11, 2023 Page 2 of 3 DocuSign Envelope ID: 9F212FDC-B64E-4F20-8E92-9D14CFC6E625 1. Economic Development EDC Director Martin gave the following update: Taco Bell- The site plan will be ready in 60 days, and the demo of the building will be in January. Whataburger- They have finalized their site plan, but it has not been filed with the city yet. E. 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.) NA F. ADJOURN Director Anderson adjourned the meeting at 6:40 pm ________________________ Shelley Anderson President __________________________ Alice Holloway, TRMC, MMC City Secretary Approved: January 8, 2024 Type A Economic Development Corporation BoardDecember 11, 2023 Page 3 of 3