Economic Development Corporation

ECONOMIC DEVELOPMENT CORPORATION Thursday, June 12, 2025 – 6:00 PM 109 North Kaufman Street, Mount Vernon, Texas 75457 Our mission: to provide effective and fiscally responsible municipal services in a manner which promotes our high standard of community life. Vision Statement Mount Vernon is a caring community committed to excellence and quality of life, aspiring to be the community of choice for ourselves, our children, and future generations – beautiful, clean, vibrant, and safe. We will strive to preserve our heritage, our friendly hometown atmosphere, and celebrate the diversity of all our citizens. MINUTES Call to Order President Sachse called the meeting to order at 6:00 p.m. and announced a quorum present. PRESENT President Mark Sachse Vice-President Julia Munoz Secretary/Treasurer Jeff Byrnes Board Member Gabe Sharp Board Member Kevin Anthony Board Member Don Huffstetler Board Member Kristin Scott City Administrator Craig Lindholm City Secretary Kathy Johnson VISITORS: Bob McFarland, Russell McCurdy, Bill & Nancy Craig, John Richmond, Brad Hyman, Kassidy Wesson, Ryan & Brittany Franza, Jim Funke & Matt Joabuah Public Comment No one spoke. Consent Agenda 1. Minutes April 10, 2025 January - May 2025 financial reports Motion made by Board Member Anthony, Seconded by Board Member Sharp. Voting Yea: President Sachse, Vice-President Munoz, Secretary/Treasurer Byrnes, Board Member Sharp, Board Member Anthony, Board Member Huffstetler, Board Member Scott Board Member Reports and Discussion Smackover Lithium DLE project-Jim Funke Project Director Texas Standard Lithium Ltd. Budget 2025/2026 Jim Funke gave a very brief over view of the plan Standard Lithium plan do facilitate on the Franklin/Titus County line and on the Hopkins/Franklin County line. They have leased 25,000 to 30,000 acres. They are currently in operation in Arkansas and Public Utility Commission there requires payment of royalties at 2.5% there, Texas does not have a requirement. They will use very little fresh water, they will reinject the brine into another location approximately two miles away, this method pushes the lithium up into the plant for processing. The process turns liquid lithium into a powder form. Many questions were asked of the audience. 2025-2026 budget discussions were post poned to the July meeting. Executive Session Deliberation regarding real property pursuant to Texas Government Code, §551.72, seeking the advice of pending litigation. President Sachse closed the Regular meeting at 6:50 p.m. and opened the Executive Session. Reconvene Reconvene into Open Session to Consider Matters Discussed in Closed Session (If Any) Presisent Sachse closed the Executive Session at 7:35.p.m. and re-opened the Regular Session. There being no further action needing to be taken. Adjourn Motion made by Board Member Huffstetler at 7:35 p.m. to close the meeting, Seconded by Board Member Anthony. Voting Yea: President Sachse, Vice-President Munoz, Secretary/Treasurer Byrnes, Board Member Sharp, Board Member Anthony, Board Member Huffstetler, Board Member Scott ___/s/ Mark Sachse_______ Mark Sachse - Board President ATTEST _/s/ Kathy Lovier Johnson_________ Kathy Lovier Johnson – City Secretary