Odessa Development Corporation

ODESSA DEVELOPMENT CORPORATION MINUTES CITY OF ODESSA, TEXAS October 8, 2020 A regular meeting of the Odessa Development Corporation (ODC) was held on October 8, 2020 at 2:00 p.m. Odessa, Texas. Due to the COVID-19, the meeting was teleconferenced, as allowed by Governor Abbott’s executive order. The board was present through teleconference. Members present: Tim Edgmon, Gene Collins, Melanie Hollmann, and Chris Cole. Members absent: David Boutin and Mayor David R. Turner, ex-officio. Others present: City Staff: Norma Aguilar-Grimaldo, City Secretary; Robert Carroll, Assistant City Attorney; and Cindy Muncy, Assistant City Manager; and ODC Contractors: Craig Van Amburgh, CVA; Wesley Burnett, Economic Development; Tyler Patton, UTPB-SBDC; and Dustin Fawcett, MOTRAN; and Others: Council member Tom Sprawls; Gloria Wright, and other interested citizens. A quorum being present, Mr. Edgmon called the meeting to order and the following proceedings were held: Mr. Collins gave the invocation. September 10, 2020 minutes. Motion was made by Mr. Collins and seconded by Mr. Hollmann to approve the minutes. The motion was approved by unanimous vote. Contractors report: Economic Development: Odessa Chamber, CVA Advertising and Marketing, Black Chamber of Commerce, Hispanic Chamber of Commerce, UTPB-America’s SBDC, MOTRAN, and City Administrative support. Mr. Burnett reported that there was a company visit that was interested in the former Summit property and was working with Grow Odessa. Project Rockhound was a $1 billion capital investment. The County was considering the tax abatement. He stated that there was a lot of activity and there was retail interest. Mr. Collins requested information on the water for a project. Mr. Van Amburgh reported that the Permian Fuels America campaign continued to gain traction. The podcasts were recorded featuring Kirk Edwards, Willie Taylor, and Peggy Dean. The television spots were in full force airing in the sporting events. He reported on the website and social media. Mr. Edgmon thanked Mr. Van Amburgh for the legislative reception pictures as it would be added to the campaign. Black Chamber of Commerce and Hispanic Chamber of Commerce. Mr. Edgmon stated that the Black Chamber representatives requested that the funding be paid some funds up front and then quarterly. Mr. Carroll stated was reviewing the contract and ODC Minutes October 8, 2020 Page 2 researching on the pay out for the funds. The funding was out of the marketing line item. The board would be considering. Mr. Collins agreed that upfront funds be provided. The funds would then be given on a reimbursement basis. Mr. Patton reported on SBDC’s September activity. There were 741 counseling sessions. There were 11 seminars presented with 126 attendees. There were two new business in Odessa. He reviewed the year end totals. There was activity for acquiring and selling businesses. Mr. Fawcett reported that there were supplemental findings on broadband. The information would be released and distributed which included maps. They had meetings with the service providers. There would be a positive boost level of service for broadband. A virtual webinar would be held next week on broadband. MOTRAN was facilitating the conversations with the providers, businesses, and entities. He reported on the Freightline Study. Findings included that 30% of freight tonnage was from our area which was a significant amount. A reliever route was being studied to extend Hwy 349 to 1788. It would connect the two communities. Mrs. Muncy reported on August’s financial activities. She stated that liabilities were $150,000 due to the 2018-19 Business Challenge. Total reserve was $14,958,540 and the fund balance was $56,055,297. She reviewed the sales tax receipts which was at $11,299,0612. Total expenditures were $5.8 million. A large investment matured and investment strategies were being considered. Mr. Edgmon asked if ECISD was being assisted with the broadband. Mr. Fawcett reported that MOTRAN has provided information and met with its contractors. He was providing information to the providers. Mr. Edgmon reported that ECISD requested funds from ODC. Mrs. Muncy stated a request was made for $100,000 for 135 connections for Pleasant Farms. ECISD requested $985,000 from the City. The funds would be from the CARES funds and Council was considering the request. Mr. Edgmon stated that the ODC request may not fall under the Type 4A guidelines. Mr. Carroll stated that the request must tie into the Type 4A guidelines under state law. He stated it was difficult to fit into the guideline as it was not investing in jobs or infrastructure. The request was for an immediate need on hardware issues. Legal was researching the request. Motion was made by Mr. Cole and seconded by Ms. Hollmann to approve the financial statement. The motion was approved by unanimous vote. Resolution ODC 2020R-16 – Adopt the City of Odessa and Odessa Development Corporation Investment Policy. Mr. Muncy stated that the investment policy was required to be approved by the Public Funds Investment Act. There were no state law changes or policy changes. The City Council approved the policy. Motion was made by Mr. Cole and seconded by Ms. Hollmann to approve the resolution. The motion was approved by unanimous vote. Apergy economic development agreement adjustment of payment schedule. Mr. Burnett stated that Apergy requested a change in the payment schedule but not a change in the total grant. The changes were for the first and fourth years. The first year was to reimburse $400,000 and the fourth year reimburse $100,000. Payment will not be made until the performance was met. Apergy was consolidating into Odessa and has ODC Minutes October 8, 2020 Page 3 been in business for more than ten years. Twenty new jobs would be added with 107 maintained jobs. Motion was made by Ms. Hollmann and seconded by Mr. Collins to approve the requested adjusted payment schedule. The motion was approved by unanimous vote. ODC Committee and Officer Reports. The committees have not met. Discuss in-person versus virtual meetings. Mr. Cole suggested waiting until the first of the year to meet in person. The board would meet virtual for November and December and consider it at the end of the year. Discuss emergency assistance options related to the COVID-19 pandemic. No discussion. Task Force Report update. Mr. Edgmon stated that the task force was moving forward and has had great results. He reported that the campaign was promoted in Washington DC on a radio program. The meeting adjourned at 2:55 p.m. ATTEST: APPROVED: Norma Aguilar-Grimaldo, TRMC, CMC Tim Edgmon City Secretary President