Type A EDC Meeting

MINUTES TYPE A ECONOMIC DEVELOPMENT CORPORATION BOARD REGULAR SESSION MONDAY, MAY 13, 2019 6:30 P.M. Members Present: Daron Beck, Chairman; David Morgan, Place 1; Linda Childers, Place 4; and Gary Miller, Place 6 Members Absent: Jeff Jones, Place 2; John Mauldin, Place 3; and Richard Vandergriff, Place 7 City Staff Present: Joshua Jones, City Manager; and Lisa Dawn Cabrera, City Secretary A. CALL TO ORDER AND ANNOUNCE A QUORUM IS PRESENT Chairman Beck called the meeting to order at 6:30 pm. B. CONSENT AGENDA 1. Approval of minutes from Type A EDC Board meeting dated April 8, 2019. Board Member Morgan made a motion to approve the minutes as presented, seconded by Board Member Childers. Motion passed unanimously. C. GENERAL ACTION ITEMS 1. Review Financial Statements for April 2019. A discussion was held among the members of the Board and City Staff concerning the sales tax projections and revenues and the percentage of the year that has passed. 2. Discuss, consider and take action on the FYE 2018 Audit Report. A discussion was held among the members of the Board and City Staff regarding the draft of the audit report concerning account names, the audit being later than usual, finalizing debt service numbers, and possible cost savings in expenditures. No action was taken on the audit report. D. FUTURE AGENDA ITEMS OR REPORTS A discussion was held in regards to a legislative updates for property tax cap, EDC negotiations, and bond elections. E. EXECUTIVE SESSION The Type A Economic Development Corporation Board shall convene in Closed Session in accordance with Texas Government Code: 1. § Section 551.087, Economic Development Negotiations. F. RECONVENE IN OPEN SESSION The Type A Economic Development Corporation Board shall convene in Open Session and may take action related to discussion in Executive Session. 1. Discuss, consider and take action regarding Economic Development Negotiations. A discussion was held among the members of the Board and City Staff regarding the first right of refusal clause, once tenants are secured construction should be about 12-18 months, incentives are based on the tenant, and the 380 agreement being between the City and the developer. Board Member Childers made a motion to approve the agreement, seconded by Board Member Morgan. Motion passed without objection. G. ADJOURN Chairman Beck adjourned the Type A EDC meeting at 6:58 pm. ____________________________ Daron Beck, Type A Chairman _____________________________ Lisa Cabrera, TRMC City Secretary