Type A Economic Development Corporation Board

Docusign Envelope ID: 044157A7-3759-41CC-A711-675E6B869656 MINUTES TYPE A ECONOMIC DEVELOPMENT CORPORATION BOARD COUNCIL CHAMBERS AUGUST 12, 2024 6:00 PM 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 July 8, 2024, meeting minutes. Motion made by Director Waldrip to approve the meeting minutes. Seconded by Director Henderson. Voting Yea: President Anderson, Director Morgan, Director Waldrip, Director Childers, Director Henderson, Alternate 1 Keating 2. Review and discuss questions related to the budget report and financial statement for July 2024. City Manager Peacock stated that there is currently over 2 million dollars in the fund balance. In addition, he stated that the final payment was made regarding the 380 Agreement, will see next month in report. 3. Discuss, consider, and possible action on the approval of the Economic Development Type A 2024- 2025 Budget. Motion made by Director Morgan to approve the Type A 2024-2025 Budget. Seconded by Director Henderson. Voting Yea: President Anderson, Director Morgan, Director Waldrip, Director Childers, Director Henderson, Director Farley 4. July 2024 monthly Economic Development Update.  Economic Development Director Martin gave the following updates:  Taco bell has started building No updates with Whataburger  American Steel has purchased 12 acres across the street, they closed on the property, and staff had a meeting with American Steel for an update on their plans. Type A Economic Development Corporation BoardAugust 12, 2024 Page 1 of 2 Docusign Envelope ID: 044157A7-3759-41CC-A711-675E6B869656 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: Pursuant to Section 551.087 of the Texas Government Code: to discuss or deliberate regarding commercial or financial information received from or the offer of a financial or other incentive made to a business prospect seeking to locate, stay, or expand in or near the territory of the City and with which the City is conducting economic development negotiations. Director Anderson announced that the EDC Type A will recess into Executive Session at 6:25 pm. E. RECONVENE INTO REGULAR SESSION 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 announced the corporation is back in Regular Session at 6:56 pm. No action taken. 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.) NA G. ADJOURN Director Anderson adjourned the meeting at 6:57 pm. Approved: October 7, 2024 ___________________________ Shelly Anderson, President ATTEST: __________________________ Alice Holloway, City Secretary Type A Economic Development Corporation BoardAugust 12, 2024 Page 2 of 2