Odessa Development Corporation

PUBLIC NOTICE ODESSA DEVELOPMENT CORPORATION BOARD OF DIRECTORS MEETING In accordance with the Open Meetings Act, Chapter 551 of the Government Code of Texas, notice is hereby given to all interested persons that the Odessa Development Corporation (“ODC”) will meet on Wednesday, April 7, 2021, at 1:00 p.m. in the City Council Chambers - City Hall, 5th Floor, 411 W. 8th Street, Odessa, Texas 79761, for the purposes outlined in the attached agenda. The Open Meetings Act gives the public the right to speak on each item on the agenda at an open meeting. Members of the public may address the ODC Board about an agenda item during the meeting when the item is being considered. This notice is being posted on the south door of City Hall and on the bulletin board of the first floor of City Hall, Odessa, Texas, on the City of Odessa’s website www.odessa- tx.gov, and on the Odessa Development Corporation’s website www.odessatex.com, this the _____ day of _______________, 2021, at _______ ___.m., said time being more than seventy-two hours (72) prior to the time at which the subject meeting will be convened and called to order. The meeting is available to all persons regardless of disability. Individuals with disabilities who require special assistance should contact the City Secretary's Office at 432-335-3276, or 411 West 8th Street, First Floor, Odessa, Texas, during normal business hours at least twenty-four hours (24) in advance of the meeting. _____________________________________ Norma Aguilar-Grimaldo, City Secretary  ODC Meeting Agenda April 7, 2021 1:00 p.m. 1. Invocation 2. Presentation to outgoing ODC Board member Gene Collins Tim Edgmon 3. Consider Minutes of March 18, 2021 ODC Board 4. Contractors reports: A. Economic Development Dept.-Odessa Chamber ..... Wesley Burnett B. CVA Advertising & Marketing ............................ Craig Van Amburgh C. Black Chamber of Commerce ...................................... Chris Walker D. Hispanic Chamber of Commerce ................................... Paul Garza E. UTPB-America’s SBDC ................................................. Tyler Patton F. MOTRAN ............................................................ James Beauchamp G. City Administrative Support; Financials ........................ Cindy Muncy 5. Recess for Executive Session - Deliberation Regarding Economic ODC Board Development Negotiations. (Texas Government Code Sec. 551.087) Reconvene in open session for possible action. 6. Discuss procedure for termination of economic development ODC Board agreements due to COVID-19 7. Discuss proposed FY 2021-2022 Budget Calendar ODC Board 8. Appoint Compliance Committee member to replace outgoing member ODC Board (Phil Padilla whose term expired 12//31/20) Re-appoint Compliance Committee members whose current terms ODC Board expired 12/31/20 (Virginia Ruiz, Jefferson Cox, Mike Withrow, Gaven D. Norris) 9. Discuss appointments to ODC Board Committees: Partnership, ODC Board Advertising, and Downtown Grants Design Review Board 10. ODC Committee and Officer reports: A. Partnership ................................................................... Tim Edgmon B. Tax Incentive ..................................Melanie Hollmann, David Boutin C. Advertising ................................................................... Tim Edgmon 11. Citizen comments on non-agenda items 12. Adjourn COURTESY RULES Thank you for your presence. The ODC Board appreciates your interest in Odessa City Government. PLEASE SILENCE OR TURN OFF ALL MOBILE DEVICES. If you wish to address the ODC Board, obtain a speaker card just inside the Council Chambers, complete the information requested on the card, and deliver to the Assistant ODC Secretary before the meeting or as soon as you can. Speakers will be heard as the individual item(s) in which they have registered an interest come before the ODC Board. Remarks will be limited to three (3) minutes per speaker. PLEASE GIVE YOUR NAME AND ADDRESS FOR THE RECORD. Delay or interruption of the proceedings will not be tolerated.  ODESSA DEVELOPMENT CORPORATION MINUTES CITY OF ODESSA, TEXAS March 18, 2021 A regular meeting of the Odessa Development Corporation (ODC) was held on March 18, 2021 at 2:00 p.m. in the Council Chambers, 5th floor, City Hall, 411 W. 8th St. Odessa, Texas. Members present: Tim Edgmon, Melanie Hollmann, David Boutin, Chris Cole, Kris Crow, Larry Robinson, and Jeff Russell. Others present: City Staff: Norma Aguilar-Grimaldo, City Secretary; Natasha Brooks, City Attorney; and Cindy Muncy, Assistant City Manager; and ODC Contractors: Craig Van Amburgh, CVA; Wesley Burnett, Economic Development; Tyler Patton, UTPB-SBDC; James Beauchamp, MOTRAN; Dustin Fawcett, MOTRAN; Paul Garza, Odessa Hispanic Chamber of Commerce; and Gloria Wright, Black Chamber of Commerce; and Others: Council members Mari Willis, Denise Swanner, Mark Matta, and Tom Sprawls; Javier Joven, Libby Campbell, Renee Earls, and other interested citizens. A quorum being present, Mr. Edgmon called the meeting to order and the following proceedings were held: Oath of Office. Mrs. Grimaldo gave the Oath of Office to Kris Crow, Larry Robinson, and Jeff Russell. Presentation to outgoing ODC Board member Gene Collins. The plaque would be presented at the next meeting. February 11, 2021 minutes. Motion was made by Mr. Boutin and seconded by Mr. Cole to approve the minutes. The motion was approved by unanimous vote. Appointment of Officers. Mr. Boutin recommended that the officers stay as: Tim Edgmon – President; David Boutin – Vice President; and Melanie Hollmann – Secretary/Treasurer. Motion was made by Mr. Cole and seconded by Ms. Hollmann to appoint the officers as recommended. Mr. Crow recommended Mr. Boutin as President, due to his vast experience, and keep the other officers as it remained. Mr. Boutin declined the office. The motion was approved by unanimous vote. Discuss and consider the ODC draft audit report. Greg Peterson, Weaver, reported that the FY ending September 30, 2020 audit was an unmodified opinion and there were no concerns. He explained the management’s discussion and analysis. Mr. Peterson reviewed the assets which was $61,315,319 and the fund balance itemized items. He explained the assigned and unassigned line items. He reported the total revenues at ODC Minutes March 18, 2021 Page 2 $11,995,682 and the incentives were $6,267,593. Total expenditures were $8,915,381 and the investments valued at $59,562,484. Mr. Peterson reviewed the budget and actual numbers. Mrs. Muncy stated that there were $58,563,724 in committed funds. Mr. Peterson stated that the internal controls and compliance were evaluated and there were no issues. It was a good clean audit. Contractors report: Economic Development Department - Odessa Chamber, CVA Advertising and Marketing, Black Chamber of Commerce, Hispanic Chamber of Commerce, UTPB-America’s SBDC, MOTRAN, and City Administrative support - Financials. Mr. Burnett reported that some projects had positive news. Project Sabre was on hold. He reported that there were projects that were not able to fulfill its obligations due to COVID and would be addressed. He visited with principals on a data center project. He was discussing possible incentives with a natural gas manufacturer. The company submitted an air quality permit. Mr. Burnett has made on site visits. Mr. Van Amburgh welcomed the new board members. He reported that there were four new podcasts and ads would air on major golf tournaments and sport events. The outdoor advertising featured business retention and expansion. The website sessions were up but the page views were down. Overall, social media platforms were down slightly which was because of the snowstorm. Ms. Wright reported that the Black Chamber of Commerce spent some ODC funds on a salary to promote events. A meet and greet for the new president, Chris Walker, would be held in the evening. The meet and greet was an opportunity to meet the new president and increase membership. Mr. Garza visited with three businesses interested in expanding. The companies were a crane hoisting, ice manufacturing and a long-haul trucking company. The paycheck protection program was extended. The webinars held on the PPP had over 100 attendees. The Hispanic Chamber partnered with SBDC on business development workshops. He made visits in the month. He would meet with the Black Chamber of Commerce for potential partnerships. Mr. Boutin was glad for the three potential clients made for business expansion. Mr. Patton reported on SBDC’s February activity. There were 326 counseling sessions. There were nine new businesses and two were in Odessa. The total capitalization was $1,254,900 and Odessa had a capitalization of $257,500. He reviewed year to date totals. He stated that the partnership with the Hispanic Chamber brought in more attendees with the webinars. The counseling sessions were done virtually or by phone. Mr. Edgmon stated that the Chamber’s working together was positive and a lot would be accomplished. Mr. Beauchamp stated that the leveraging report was a great success. He provided the status on the Yukon Road corridor development. He reviewed the five primary projects on Yukon. One of the projects has signalization at the intersection of Yukon and W. Loop 338. He stated it would be beneficial to have ODC leveraging funds for this project. The addition of a full interchange/overpass for the intersection would provide for continuity for the entire corridor and improving west Loop 338. He provided a project cost report of the leveraging of ODC funds. Mr. Beauchamp reported that Net Ops Communications would cover Ector County except for one area with broadband. The timeline was a ten-year plan. Mr. Boutin supported the overpass instead of the signalization to take the steps to make a true loop. He recommended that the ODC Minutes March 18, 2021 Page 3 unassigned funding should be considered on assigning projects to move up on the list. He stated that the return on the investment was $12. The infrastructure paved the wave for growth. Mr. Cole asked about identifying the long-term projects and encouraged to be open minded. Mr. Beauchamp would talk to TxDOT on the Yukon corridor. Mr. Cole encouraged the new board members to visit with MOTRAN. Mrs. Muncy introduced Larry Fry, Finance Director. She reported on the January financial reports. There was $58,011,234 in total assets, $2,196,267 in total liabilities and total reserved of $14,882,440. She reviewed the sales tax receipts. To date, sales tax was about 11% over budget. She explained the reserved long-term commitments and the Business Challenge funds. For the investments, staff was looking for investments to move out of the money market that meets requirements. Mr. Boutin asked about the restrictions on the investments that required to provide securities. Mrs. Muncy stated that it had to be collateralized which can be difficult for the institutions. She stated that the pools were liquid. CDARs were used in the past and would review for potential use of CDARs. She stated there was the opportunity for other brokers or firms to assist with the investments, but it had a cost. Currently, there were four brokers. The ODC funds were separated from the City funds. ODC Committee and Officer Reports. No committee meetings were held. Request from West Texas Food Bank to use $288,491.58 in unspent grant funds to purchase a tractor, a trailer, and a forklift for use by the food bank. Mr. Burnett stated that ODC assisted with a freezer cooler due to COVID to the food bank. The cost was $269,583.42 which was under budget. West Texas Food Bank requested to use the left-over funds to purchase a tractor, trailer, and forklift. The funds would be reallocated, if approved. Mr. Edgmon stated that there was no change in terms as there were no additional funds. Ms. Campbell reported on the clients. There was a decrease in clients, but new clients were being added. She explained the SNAP qualifications and the produce conditions. The food bank continued to add jobs. Motion was made by Mr. Cole and seconded by Mr. Boutin to amend the contract. The motion was approved by 6-0 vote. Ms. Hollmann abstained as she served on the West Texas Food Bank Board. Tabled - Reappoint Compliance Committee members whose current terms expired 12-31-20 (Virginia Ruiz, Jefferson Cox, Mike Withrow, Gaven Norris and Phil Padilla) Mr. Burnett stated that Phil Padilla would not be able to serve. Motion was made by Mr. Crow and seconded by Mr. Robinson to table this item. There may be names to bring forth from the new board members. Ms. Brooks stated that the current members would serve until there were new appointments. Mr. Boutin asked that the expertise background of the Compliance Committee members whose terms are up be provided to the new members. The motion was approved by unanimous vote. Discuss appointments to ODC Board Committees: Partnership, Advertising, and Downtown Grant Design Review Board. Mr. Burnett stated that the chair of the entities served on the Partnership, but others could serve. Mr. Edgmon stated that a description be provided on each committee for the new board members and it will be considered at the next meeting. Citizen comments on non-agenda items. No action. ODC Minutes March 18, 2021 Page 4 Motion was made by Mr. Cole and seconded by Mr. Crow to adjourn the meeting. The motion was approved by unanimous vote. The meeting adjourned at 3:22 p.m. ATTEST: APPROVED: Norma Aguilar-Grimaldo, TRMC, CMC Tim Edgmon City Secretary President  Odessa Chamber of Commerce Economic Development Services for the Odessa Development Corporation March 2021 Projects 2018-01 • Lead from the Governor’s office; Sabre Chemical, a chemical manufacturing business is seeking a HQ location in Odessa, adding 200 jobs to the workforce • Seeking rail service location • Company narrowing facilities list, will be working with Economic Development staff • Negotiating for a facility continues and is close to completion • Company is in final negotiation on existing facility in Odessa, will submit incentive application soon • Company has closed on building, currently has 60 employees, plans to ramp up to 200 over 3 years • HQ and distribution office, incentive application should be submitted soon • Company continues to develop options for increasing facility size and job numbers. Discussion of locating more of operation in Odessa • Company has incentive application, negotiations for increasing and expanding operations in Odessa • Company making improvements / upgrades to existing local facility • No update, waiting on application from company • Company re-evaluating timeline due to recent situation • Company currently working on financing and restructuring project • Company moving forward, discussion ongoing 2018-05 • X-Energy is seeking to construct and operate a specific nuclear reactor in Ector County, Texas. This is a long-term project that would not expect to be in operation until 2024 and a $1.5 billion project 1 • This intrinsically safe procedure is expected to generate the sale of electricity and process heat from this facility which could self-suffice the plant operations and costs • A feasibility study has returned favorable and positive feedback • Company visited Odessa, toured GCA-very favorable, feasibility moving forward on business model • Company will return to Odessa and discuss water issues surrounding communities moving forward • Company plans to be in Odessa in December 2018 with DOE representatives to explore options and Odessa investments • Company and DOE, TRRC visited Odessa, project to move forward • Ongoing, no report • No update 2019-03 • Oil and Gas manufacturing company out of state wishes to consolidate operations into Odessa • 62 retained and transferred jobs, 46 new jobs created, $7 million payroll • Compliance met and will be recommending incentives to ODC board • ODC Board and City Council approved an incentives package for the project • Agreement executed • Development delayed due to current situation • Company will be terminating agreement due to pandemic. Will re-evaluate and reapply 2020-01 • DEF Plant • $2.5-3 capital investment • 15-20 jobs • Project in early stage of planning • Ongoing • No update 2020-02 • Site location consultants and staff conducted virtual site visit for a new heavy industrial manufacturing facility • 2,950 construction jobs during 3-4 year construction • 250-380 permanent employees • $3-6 billion CapEx, 24/7 operation • Completed, follow up, over 250 questions on site, utilities, rail etc • Clarification requested, addressed • Possibility of larger project, $9 billion capex, possible 5,000 construction jobs for 5 years, up to 500 permanent jobs, average salary +/- $90K 2  • Grow Odessa, Penwell property as possible location , ongoing discussions on property, road access, incentives • Site visit October 6th, meetings with stakeholders and property review • Company in town February 4th – 5th, met with ECISD, County, MCH and OC • Company application for Chapter 313 value limitation by ECISD • Company TCEQ air quality application submitted • Company received completeness certification from Comptroller • Compliance Committee evaluated, will recommend incentives to ODC 2020-04 • Gasket manufacturing and seal distribution company • CapEx $250,000 • 5 new jobs, 5 retained • ODC and city approved $125K incentive • Contracts being reviewed • Had to hire new contractor, will sign agreement once design is complete • Close to design completion, should breakground within the next month 2020-05 • Data center project • 50-100K acres within 2-4 miles of a substation • Ongoing 2020-06 • $750 million CapEx • 200+/- jobs • Consultant doing due diligence for possible community incentives • NDA executed with taxing entities in order to move forward • Met with County, ECISD, MCH and OC • Narrowing list of locations, project moving forward • Application for Chapter 313 value limitation to ECISD • Site evaluation ongoing Local Business Retention and Expansion • Multiple local expansions in beginning stages • Project Who, food manufacturer, working on ODC application. Still plans for Odessa location, timeline extended due to current situation • Project considering Permian Basin for oilfield waste solution facility • Emailed grant applications to five potential expansion projects 3 Odessa Partnership • Looking at 2021 meeting to catch up on activity of each entity. • Tax Incentive Committee meeting Wednesday, March 31st. Business Retention and Expansion Visits • 5 business consultations in office • 4 business visits out of office Housing • OHFC approved for incentives on 216-unit multi-family project expansion on 87th Street. PSP has withdrawn project investment of $6 million due to recent economic situation, construction on hold. • Housing pod project with interest in multi-family, mixed use and single-family pursuing project for Downtown and NE Odessa. Evaluating investments to partner with PSP and Downtown Odessa area interest. Project moving forward on all fronts. Project put on hold. • Approved two housing grants. 7 single family, 6 townhomes. Funding has begun. • LOA Land Development, 192 lot subdivision working on infrastructure grant application. Ongoing • Compliance looking at other possible projects • Met with City Officials/OHFC and potential housing development company interested in partnership for affordable housing projects Services and Other Activities • December Ingham Economic Index report received, sent via Mailchimp, posted to website • Odessa Development News, January report sent via Mailchimp, posted to website • Certificate of Origin, Eckel International Inc., parts shipping to Abu-Dhabi UAE • Request for demographic information and Economic Index Reports, Charlotte Dalton with JPS Realty • Request for information, Salena Tafoya on property at 2595 W. Bell Street, referred to ECAD • Request for wage information, Charles Carlson • Odessa Development News and Ingham Economic Index sent to Paul Garza, HCOC • Updated Worforce Housing List 4 • Request for information, Mark Wu with JPM Inc., traffic counts and 2020 Odessa Development News report • Certificate of Origin, Element Oil Tools, parts shipping to Egypt • Request for available property for a logistics company 5  Partner Visits Information and Discussion Group Director Weekly Stakeholder Meeting Director The Governors Cup – Site Selection Webinar Staff City Council Work Session Director and Staff Control Equipment – New Facility Tour Director and Staff TPFA Lunch Discussion Director TBHI Presidents Call Director and Staff High Ground – Representative Smithee Director and Staff Early Childhood Action Network / Coalition Meeting Director High Water Strategies Director TEDC Power Crisis ED Post Power Crisis Discussion Director International Womens Conference Staff Site Selection Webinar – Top Metropolitans Staff MOTRAN – ODC Transportation Meeting Director People Fund - SBDC Staff Chmura JobsEQ Webinar – Why Educators Need to Engage in Workforce and Economic Development Staff First Basin Board and Annual Meeting Director High Ground/Todd Staples/Jeff Clark Director and Staff 6 High Ground / Representative Price Staff Representative Landgraf Discussion on Immigration Director and Staff Chamber Business Roundtable Discussion Director EPPB – Grow Our Own Action Network Director The Armadillo Hotel – Tour Director and Staff Odessa HCOC – Meeting with Paul Garza Director Impact Dashboard Live Demo Staff IEDC – Entrepreneurship via ESO’s Director ConnEctor Task Force Meeting Director Site Selection Webinar – Mississippi River Corridor Staff PBRC Board Meeting Director 2021 Legislative Update Staff SBDC – Tyler Patton Meeting Director TEDC – Come Together, Work Together, Succeed Together Staff TIP Opportunity Odessa Executive Committee Call Director Opportunity Odessa Director 7  Odessa Economic Indicators 2021 Sales and Use Tax February 2021 2020 % Change City of Odessa $5,910,480 $5,378,020 9.90% Totals YTD $9,394,163 $10,453,705 -10.14% Labor Market Statistics Permian Basin Rig Count January 2021 2020 Month 2021 2020 Civilian Labor Force 79,707 87,266 Total Employment 70,314 84,290 February 140 295 Total Unemployment 9,393 2,976 January 118 296 Unemployment Rate 11.8% 3.4% December 107 299 Payroll Employment Estimate 67,200 81,700 Midland International Air and Space Port MLS Statistics-Residential (SF/COND/TH) February 2021 2020 February 2021 2020 Enplaned 22,832 45,992 Total Sold 118 102 Deplaned 22,438 46,061 Dollar Volume $27,206,703 $24,762,698 Enplaned YTD 46,729 92,167 Total Sold YTD 211 196 Deplaned YTD 48,467 94,593 Volume YTD $48,745,976 $47,345,615 Sources: City of Odessa Building Inspection Division, State Comptroller of Public Accounts, Midland International Air and Space Port, Labor Market and Career Information, Odessa Board of Realtors and Baker Hughes Published by the Odessa Chamber of Commerce kathiv@odessaecodev.com (432) 332-9111 ODESSA DEVELOPMENT CORPORATION MARCH 2021 ACTIVITIES PODCAST SERIES Podcast - Opportunity Odessa Four new podcasts are now fully produced and will be posted to the ODEC website over the next two months. New podcasts include Mayor Javier Joven, County Judge Debi Hayes, ECISC Superintendent Scott Muri, and UTPB Athletic Director Todd Doo- ley. TELEVISION Our business retention and expansion message will continue to air on select major golf tournaments and events through August 2021. OUTDOOR ADVERTISING Our outdoor messages continue to focus on local business expansion and retention. NEWSPAPER ADVERTISING Likewise, our local business retention ad featuring Nick Fowler will be seen in the Odessa American as well as in small digital ads on the Odessa American’s web site. TRADE PUBLICATION ADVERTISING A half page ad has been produced for Expansion Solutions Magazine’s March/April issue focused on Texas. A sample of this ad is attached for you reference. In addition, a press release regarding Odessa’s and Texas’ recent selection for the Governor’s Cup CVA 5030 E. University, Ste. 401 B Odessa, TX 79762 T 432-368-5483 F 432-366-9434 E craig@cvaadv.com www.cvaadv.com Awards in Site Selection Magazine ran in the Odessa American in mid-March. A sample of the copy that was used for the press release is included later in this report. ODC WEBSITE Traffic on the website was up significantly compared to last month. The largest source of traffic in February was referral at 59% (traffic from Facebook and City of Odessa), fol- lowed by organic search at 30%. Our top pages for views, in order, were homepage, properties, location-maps, demographics, and the Why Odessa page. THE PERMIAN FUELS AMERICA WEBSITE This month our petition signatures reached a total of 341. 69% of website traffic was generated from social media, and 15% each from organic search and direct website en- try. The most popular pages this month were the homepage and the petition page. ODC SOCIAL MEDIA Overview In March, ODC’s overall social media engagement and shares across all platforms were mixed, with reach down, but engagement up. ODC Facebook Over the last month on Facebook, we have continued to generate content from rele- vant articles of local news organizations. We reached over 5,600 people and got 1,000 engagements. Our new page likes were up 33% over last month. This month, our most popular posts were a news article about ECISD teaming up with Harvard, and UTPB’s workforce initiatives. ODC Twitter We have continued to tweet the same content we share on Facebook to engage new and existing followers as well as retweeting relevant content. While our number of tweets and impressions were down, our followers and profile visits were up. Our most CVA 5030 E. University, Ste. 401 B Odessa, TX 79762 T 432-368-5483 F 432-366-9434 E craig@cvaadv.com www.cvaadv.com popular tweet was an article about OC’s Facebook live about the TX Re-skilling Sup- port Fund Grant Program. THE PERMIAN FUELS AMERICA SOCIAL MEDIA The Permian Fuels America Facebook showed increases in reach (up 54%) and en- gagement (up 42%), however page likes were down 64%. The most popular posts this month were news articles about an increase in rig counts, and a positive growth fore- cast for oil and gas. Permian Fuels America Twitter Twitter was up significantly in March, with a 41% rise in impressions, and a 25% in- crease in tweet volume. Our most popular tweet was about the negative influences of importing foreign oil. SUMMATION ODC: Facebook: 20 new page likes Twitter: 9 new follower The Permian Fuels America: Facebook: 5 new page likes Twitter: 3 new followers CVA 5030 E. University, Ste. 401 B Odessa, TX 79762 T 432-368-5483 F 432-366-9434 E craig@cvaadv.com www.cvaadv.com ODESSA AMERICAN PRESS RELEASE (SAMPLE) PRESS RELEASE FOR IMMEDIATE RELEASE FOR MORE INFORMATION CONTACT: Wesley Burnett (432) 333-7880 TEXAS AND ODESSA RECEIVE RECOGNITION FOR ECONOMIC DEVELOPMENT IN SITE SELECTION MAGAZINES’S GOVERNOR’S CUP AWARDS (ODESSA, TX.) For the ninth straight year in a row, Texas has won Site Selection Maga- zine’s Governors Cup Award for having the most qualified economic development projects of any state in the U.S. for the year 2020, almost doubling the number of projects of the second ranked state. In fact, Texas’s 781 projects were more than the combined total projects of the 2nd and 3rd place winners, Ohio and Georgia. In the per capita (per 1 million population) competition, Texas ranked #6 behind Ohio, Geor- gia, Kentucky, Nebraska and Indiana, all states with significantly lower total populations than the Lone Star State. In addition, Odessa, Texas, was ranked the #6 metro area in the total number of eco- nomic development projects in metros with populations less than 200,000 (tied with 5 other metro areas). Odessa’s total number of projects was seven. Odessa was also ranked #8 nationally for projects per capita in metros less than 200,000. “It is truly amazing that Odessa has done so well in its economic development efforts during a time when COVID and our oil and gas economy have greatly impacted our growth during 2020,” states Wesley Burnett, Director of Economic Development. “Our City Leaders, City Council Representatives, the Grow Odessa organization, the Board of the Odessa Developement Corporation and our taxing entities have continued to do incredible work in keeping Odessa’s name in front of companies across the nation who are looking to expand into new markets. They have truly personified the “can do” spirit CVA 5030 E. University, Ste. 401 B Odessa, TX 79762 T 432-368-5483 F 432-366-9434 E craig@cvaadv.com www.cvaadv.com that has helped Odessa grow and prosper in the past 25 years,” he adds. “And with some exciting potential projects on the horizon, I’m expecting 2021 to be another great year for Odessa”. Odessa Development Corporation Chairman Tim Edgmon concurs, saying “The dedi- cated business men and women who volunteer on behalf of the ODC and those serv- ing in our city government truly have done a yeoman’s job contributing greatly to the economic development of Odessa, Texas, and making a difference for our dynamic city's future.” Site Selection, published by Conway Data, Inc., is the senior publication in the corpo- rate real estate and economic development fields and is the official publication of the Industrial Asset Management Council. Site Selection's yearly analyses are regarded by corporate real estate analysts as "the industry scoreboard. Site Selection’s Conway Projects Database focuses on new corporate facility projects with significant impact, including headquarters, manufacturing plants, R&D operations and logistics sites, among others. It does not track retail and government projects, or schools and hospi- tals. New facilities and expansions included in the analyses must meet at least one of three criteria: (a) involve a capital investment of at least US $1 million, (b) create at least 20 new jobs or (c) add at least 20,000 sq. ft. (1,858 sq. m.) of new floor area. ### CVA 5030 E. University, Ste. 401 B Odessa, TX 79762 T 432-368-5483 F 432-366-9434 E craig@cvaadv.com www.cvaadv.com ODC Digital Report March, 2021 Social Overview Facebook Overview Top Facebook Posts Twitter Overview Top Tweets Website Overview Permian Fuels America Overview TPFA Facebook TPFA Top Facebook Posts TPFA Twitter TPFA Website  UTPB SMALL BUSINESS DEVELOPMENT CENTER 2020-2021 New Business Start-Ups & Expansions March-21 ODESSA OTHER LOCATIONS ACTIVITIES Counseling New Businesses 2 New Businesses 3 354 Seminars 3 Sessions Am Am FTE's 7 FTE's 26 13 1 Ind/N/Alaskan Ind/N/Alaskan Asian/pac. Asian/pac. 6 0 Islander Islander Black 69 Black 9 Hispanic 147 Hispanic 27 Non-Hispanic 155 Non-Hispanic 7 Total Clients 354 Total Attendees 49 Counseling 199 Training Hours 22 Hours Cumulative End of Year 2020-2021 Oct-20 Nov-20 Dec-20 Jan-21 Feb-21 Mar-21 Apr-21 May-21 Jun-21 Jul-21 Aug-21 Sep-21 2019/20 Totals Totals Counseling Sessions 496 497 324 364 326 354 0 0 0 0 0 0 2361 3731 Counseling Hours 214 284 252 220 218 199 0 0 0 0 0 0 1387 2604 Seminars Presented 6 5 3 3 4 3 0 0 0 0 0 0 24 27 Attendees 107 45 33 38 84 49 0 0 0 0 0 0 356 393 Training Hours 180.0 45 52 38 93 22 0 0 0 0 0 0 430 1079 New Businesses 4 6 5 5 9 5 0 0 0 0 0 0 34 48 Odessa New Business 1 3 1 3 2 2 0 0 0 0 0 0 12 19 Capitalization $3,034,539 $2,701,000 $1,383,565 $3,667,147 $1,254,900 $3,994,150 $0 $0 $0 $0 $0 $0 $16,035,301 $28,630,819 Odessa Capitalization $902,000 $59,000 $419,000 $1,894,000 $257,500 $454,150 $0 $0 $0 $0 $0 $0 $3,985,650 $11,281,624 Total FTE's 15 14 23 11 20 33 0 0 0 0 0 0 115 238 4/1/2021 KAM  ODESSA DEVELOPMENT CORPORATION BALANCE SHEET FEBRUARY 2021 ASSETS Investments - Local Government Pools $ 28,161,215 Investments - CDs and CDARs 3,255,358 Investments - Municipal Securities 1,007,530 Investments - Money Market 24,924,080 Interest Receivable - Municipal Securities 2,198 Prepaid Insurance - TOTAL ASSETS $ 57,350,382 LIABILITIES Accounts Payable 469,269 TOTAL LIABILITIES $ 469,269 FUND BALANCE Reserved - Short Term Commitments Due Within One Year FMC Technologies 76,398 Glazer's Beer & Beverage 226,998 Select Energy 18,374 West Texas Food Bank 146,866 West Texas Food Bank-2nd Amendment 558,075 Odessa College - 2nd Project Training Facility - UTPB - 2nd Project Training Facility 1,500,000 Total Short Term Commitments 2,526,711 Reserved - Long Term Commitments Due in More Than One Year FMC Technologies 76,400 Glazer's Beer & Beverage 453,997 Select Energy 36,749 West Texas Food Bank 0 UTPB - 2nd Project Training Facility 1,500,000 UTPB - 3rd Project Training Facility 2,100,000 Downing Wellhead Equipment, LLC 1,640,000 Rack Industries, LLC 2,757,294 Kaige Industries, LLC 318,000 Apergy (Champion X) 1,000,000 Odessa College - 3rd Project Training Facility 5,000,000 Total Long Term Commitments 14,882,440 Total Reserved 17,409,151 Assigned (TXDOT Projects) 9,135,890 Assigned (Workforce Housing Infrastructure Incentives) 4,976,950 Unreserved 25,359,122 TOTAL FUND BALANCE $ 56,881,113 TOTAL LIABILITIES AND FUND BALANCE $ 57,350,382  ODESSA DEVELOPMENT CORPORATION STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE TOTAL BUDGET COMPARISON FEBRUARY 2021 TOTAL REMAINING BUDGET ACTUAL - YTD BALANCE REVENUES 4-A Sales Tax Receipts $ 9,500,000 $ 4,296,777 $ (5,203,223) Miscellaneous Income/Refunds - 72,496 72,496 Interest Income 150,000 60,432 (89,568) Gain and or (Loss) on Investments 0 (26,677) (26,677) TOTAL REVENUES $ 9,650,000 $ 4,403,028 $ (5,246,972) EXPENDITURES Supplies and Materials $ 1,500 $ - $ 1,500 Audit Services 38,000 27,845 10,155 Special Services 75,000 - 75,000 Insurance 16,262 14,907 1,355 Bank Services 6,000 2,590 3,410 Administration Fee - City of Odessa 205,349 85,562 119,787 Contingencies 100,000 - 100,000 Contracted Economic Development Services Chamber of Commerce 973,605 486,803 486,803 MOTRAN 142,500 71,250 71,250 UTPB - Small Business Center 108,183 54,092 54,091 Promotional Marketing 894,294 486,910 407,384 UTPB - SBDC Entrep. Contest - - - Odessa Hispanic Chamber of Commerce 50,000 33,333 16,667 Odessa Black Chamber of Commerce 50,000 33,333 16,667 Façade Grants 100,000 - 100,000 Business Incentives 50,000,000 10,673 49,989,327 Infrastructure Grants 100,000 - 100,000 TOTAL EXPENDITURES $ 52,860,693 $ 1,307,297 $ 51,553,396 EXCESS (DEFICIENCY) OF REVENUE OVER EXPENDITURES $ (43,210,693) $ 3,095,731 $ 46,306,424 FUND BALANCE - AT BEGINNING OF YEAR $ 53,785,382 $ 53,785,382 $ - FUND BALANCE - AT END OF YEAR $ 10,574,689 $ 56,881,113 $ 46,306,424  ODESSA DEVELOPMENT CORPORATION CHANGES IN RESERVED FUND BALANCE FEBRUARY 2021 Reserved - Short Term Commitments Dates in Fiscal Years Current Month Prior Month Month End Change Pmt Began Expires FMC Technologies $ 76,398 $ 76,398 $ - 2017-18 2021-22 Select Energy 18,374 18,374 - 2017-18 2021-22 Glazer's Beer & Beverage 226,998 226,998 - 2014-15 2018-19 West Texas Food Bank 146,866 146,866 - 2016-17 2020-21 West Texas Food Bank-2nd Amendment 558,075 558,075 - 2019-20 2019-20 Odessa College - 2nd Project Training Facility - - - 2017-18 2019-20 UTPB - 2nd Project Training Facility 1,500,000 1,500,000 - 2017-18 2021-22 Total Short Term Commitments $ 2,526,711 $ 2,526,711 $ - Reserved - Long Term Commitments Dates in Fiscal Years Current Month Prior Month Month End Change Pmt Began Expires FMC Technologies $ 76,400 $ 76,400 $ - 2017-18 2021-22 Glazer's Beer & Beverage 453,997 453,997 - 2018-19 2022-23 Select Energy 36,749 36,749 - 2017-18 2021-22 West Texas Food Bank - 0 - 2016-17 2020-21 Odessa College - 2nd Project Training Facility - - - 2017-18 2019-20 UTPB - 2nd Project Training Facility 1,500,000 1,500,000 - 2017-18 2021-22 UTPB - 3rd Project Training Facility 2,100,000 2,100,000 - Not Started Downing Wellhead Equipment, LLC 1,640,000 1,640,000 - - - Rack Industries, LLC 2,757,294 2,757,294 - - - Kaige Equipment, LLC 318,000 318,000 - - - Apergy (Champion X) 1,000,000 1,000,000 - - - Odessa College-3rd Project Training Facility 5,000,000 5,000,000 - - - Total Long Term Commitments $ 14,882,440 $ 14,882,440 $ - Total Reserved Fund Balance $ 17,409,151 $ 17,409,151 $ -  ODESSA DEVELOPMENT CORPORATION INVESTMENT SUMMARY FEBRUARY 2021 This investment summary report is in full compliance with the investment strategy as established per the City's Investment Policy and the the Public Funds Investment Act. The fair value for the beginning and end of the reporting period are as follows: CHANGES IN FAIR VALUE SALES AND BEGINNING PURCHASE AND WITHDRAWAL ENDING INVESTMENT BALANCE AMOUNT INTEREST AMOUNT BALANCE GOVERNMENT POOLS $ 28,824,029 $ 1,252,856 $ 1,266 $ 1,916,935 $ 28,161,215 CD'S AND CDARS 3,252,429 - 2,929 - 3,255,358 SAVINGS AND MONEY MARKETS 23,390,428 1,500,000 33,652 - 24,924,080 MUNICIPAL BONDS 2,511,300 - (3,770) 1,500,000 1,007,530 AGENCY NOTES - - - - - TOTAL $ 57,978,186 $ 2,752,856 $ 34,076 $ 3,416,935 $ 57,348,183 Note: This investment report is prepared in accordance with Generally Accepted Accounting Principles (GAAP), and is in compliance with the City of Odessa's investments strategies in the investment policy, and with relevant provisions of the Public Funds Investment Act.  ODESSA DEVELOPMENT CORPORATION INVESTMENT PORTFOLIO FEBRUARY, 2021 Beginning of Month INVESTMENT TYPE YTM MATURITY PAR FAIR** Local Government Investment Pools TexPool 0.08% Open $ 21,749,295 $ 21,749,295 Logic 0.13% Open 7,074,734 7,074,734 Total Local Government Investment Pools $ 28,824,029 $ 28,824,029 Weighted Average Rate Per Pools Total 0.09% Money Market Investment Frost Money Market 0.06% Open 23,390,428 23,390,428 Total Money Market $ 23,390,428 $ 23,390,428 Weighted Average Rate Per MM Total 0.06% CD AND CDARs Investments AimBank - 17 Month CD 1.50% 6/30/21 $ 2,173,000 $ 2,203,319 BBVA CD 0.20% 3/3/21 1,048,935 1,049,110 Total CD and CDARs Investments $ 3,221,935 $ 3,252,429 Weighted Average Rate Per CD's Total 1.08% Municipal Securities Florida St Bd A Tax 2.64% 7/1/21 1,000,000 1,009,330 Center Tex ISD Tax 5.40% 2/15/21 1,000,000 1,001,580 Texas Tech University 1.95% 2/15/21 500,000 500,390 Total Municipal Securities $ 2,500,000 $ 2,511,300 Weighted Average Rate Per Munis Total 3.61% TOTAL INVESTMENTS 0.29% $ 57,936,392 $ 57,978,186 ** Amount does not reflect prior period market adjustments and represents fair market value adjustment as of current period end only.  ODESSA DEVELOPMENT CORPORATION INVESTMENT PORTFOLIO FEBRUARY, 2021 End of Month INVESTMENT TYPE YTM MATURITY PAR FAIR** Local Government Investment Pools TexPool 0.04% Open $ 21,085,935 $ 21,085,935 Logic 0.10% Open 7,075,280 7,075,280 Total Local Government Investment Pools $ 28,161,215 $ 28,161,215 Weighted Average Rate Per Pools Total 0.06% Money Market Investment Frost Money Market 0.06% Open $ 24,924,080 $ 24,924,080 Total Money Market $ 24,924,080 $ 24,924,080 Weighted Average Rate Per MM Total 0.06% CD AND CDARs Investments AimBank - 17 Month CD 1.50% 6/30/21 $ 2,173,000 $ 2,206,073 BBVA CD 0.20% 3/3/21 1,049,110 1,049,285 Total CD and CDARs Investments $ 3,222,110 $ 3,255,358 Weighted Average Rate Per CD's Total 1.08% Municipal Securities Florida St Bd A Tax 2.64% 7/1/21 $ 1,000,000 1,007,530 Center Tex ISD Tax 0.00% 2/15/21 1,000,000 - Texas Tech University 0.00% 2/15/21 500,000 - Total Municipal Securities $ 2,500,000 $ 1,007,530 Weighted Average Rate Per Munis Total 2.64% TOTAL INVESTMENTS 0.16% $ 58,807,405 $ 57,348,183 ** Amount does not reflect prior period market adjustments and represents fair market value adjustment as of current period end only.  ODESSA DEVELOPMENT CORPORATION Annual Budget Calendar Fiscal Year 2021-2022 April 8, 2021 ODC to discuss proposed FY 2021-2022 Budget Calendar ODC Meeting May 13, 2021 ODC to review and approve FY 2021-2022 Budget Calendar ODC Meeting May 14, 2021 Legal to send letter to contractors requesting proposals for FY 2021-2022 using the current General Development Plan as guide: Odessa Chamber of Commerce Odessa Black Chamber of Commerce Odessa Hispanic Chamber of Commerce MOTRAN Alliance, Inc. UTPB-SBDC UTPB-Business Challenge CVA Advertising City of Odessa June 10, 2021 1) ODC to review and discuss proposed FY 2021-2022 Gen Dev Plan FORM ODC Meeting 2) ODC to review and discuss contract FORM for Contractors June 18, 2021 Responses due from outside agencies regarding requested ODC funding TBD by Cindy Muncy Preparation of budget estimates for new fiscal year begins June 21, 2021 City staff to forward contractor proposals to ODC Board TBD by Cindy Muncy City staff completes review of Budget Estimates and proposes recommendations to ODC July 8, 2021 1) ODC to review and discuss proposed FY 2021-2022 Gen Dev Plan ODC Meeting 2) ODC to review and discuss contractor proposals to be presented and approved at August 12, 2021, ODC meeting 3) ODC to review and discuss proposed FY 2021-2022 Budget to be approved at August 12, 2021, ODC meeting August 12, 2021 1) ODC to approve proposed FY 2021-2022 Gen Dev Plan and forward to City ODC Meeting Council Work Session for approval 2) ODC to approve proposed contract FORM and forward to City Council Work Session for approval 3) ODC to approve proposed FY 2021-2022 Budget and forward to City Council Work Session for approval August 17, 2021 City Council Work Session to review and discuss proposed ODC FY 2021-2022 Work Session Gen Dev Plan, contract FORM, and Budget August 24, 2021 City Council Meeting to approve proposed ODC FY 2021-2022 Gen Dev Plan, Council Meeting contract FORM, and Budget August 25, 2021 Legal to send contracts to contractors to sign and return NLT 9/8/2021 September 9, 2021 ODC President to sign all contracts ODC Meeting September 10, 2021 Contracts submitted to by City Manager for execution October 1, 2021 New fiscal year begins January 18, 2022 Report submitted to State Comptroller as required by the Economic Development Act for prior year activities (Finance Director does this) LECH(A) Administrative\(A-5) Organization\A-5-77 ODC\ANNUAL\Budget Calendars\ODC Annual Budget Calendar 2021-22 DRAFT 03-16-21  ODESSA DEVELOPMENT CORPORATION Compliance Committee Members effective January 1, 2020 1. Maribea Merritt Ph.: 552-2633 Email: merritt_m@utpb.edu UTPB Cell: 556-0685 First term: 08-20-15 to 12-31-17 4901 East University, Rm. MB 2100 Fax: 552-2808 Second term: 01-01-18 to 12-31-19 Odessa, Texas 79762 Third term: 01-01-20 to 12-31-21 2. Virginia Ruiz Ph.: 552-1001 Email: Virginia.Ruiz@southwbank.com Southwest Bank Fax: 552-1042 First term: 01-01-17 to 12-31-18 4800 East 42nd Street Cell: 559-1765 Second term: 01-01-19 to 12-31-20 Odessa, Texas 79762 Third Term: 3. Jefferson Cox Ph.: 334-0577 Email: JeffersonC@swcctx.com Southwest Commercial Capital, Inc. Cell: 349-3309 First term: 01-01-17 to 12-31-18 2710 N Grandview Ave. Fax: 612-1242 Second term: 01-01-19 to 12-31-20 Odessa TX 79762-6953 Third term: (Vice-Chairman 8-7-17 to 12-31-17) 4. Mike Withrow Ph.: 363-5231 Email: mwithrow@basinabstract.com Basin Abstract & Title Partial term: 11-09-17 to 12-31-18 4526 East University Blvd. First term: 01-01-19 to 12-31-20 Bldg 2 Suite A Second term: Odessa, TX 79762 Third Term: 5. Daniel Harper Cell: 770-8402 Email: odessadjh@gmail.com Shafer, Davis, O'Leary & Stoker, P.C. First term: 01-01-18 to 12-31-19 9 Santa Domingo Court Office: 687-0011 Second term: 01-01-20 to 12-31-21 Odessa, Texas 79765 (back-up only) Third term: 6. Chris E. Walker Ph.: 238-1985 Email: walker9136@sbcglobal.net Walker's Photography Office: 580-5822 Partial term: 08-08-19 to 12-31-19 1005 Summer Avenue First term: 01-01-20 to 12-31-21 Odessa, TX 79763 7. Gaven D. Norris Ph.: 279-0858 Email: gdnorrislaw@gmail.com The Norris Law Group Partial term: 10-16-19 to 12-31-20 2651 Kermit Hwy First term: Odessa, TX 79763-2542 8. Phil Padilla Office: 563-0980 Email: ppadilla@ntactops.com NTACT Operations, LLC Cell: 352-3193 Partial term: 01-01-20 to 12-31-20 12615 West County Road 91 First term: Midland, TX 79707 9. Blake Batte Cell: 553-5498 Email: blake@mcanallywilkins.com First Term: 01-01-20 to 12-31-21 10. Betsy Triplett-Hurt Ph.: 366-8515 Email: P.O. Box 72 Cell: 638-3901 First Term: 01-01-20 to 12-31-21 Odessa, Texas 79760 Ex Officio Non-voting 11. Mari Willis Ph.: 770-2385 Email: Mwillis@odessa-tx.gov City Council Member District 5 1615 W. 20th St, 79763 Odessa, Texas 79761 12. Director of Finance or designee Ph.: 335-3274 Email: ODC Treasurer 411 W. 8th Street Odessa, Texas 79761 LECH_SHARE\(A) Administrative\(A-5) Organization\A-5-77 ODC\Member Lists - Compliance\CC Members 01/09/2020 Page 1 of 2  Compliance Committee Page 2 13. City Attorney or designee Ph.: 335-3228 Email: legal@odessa-tx.gov 411 W. 8th Street Odessa, Texas 79761 14. Wesley Burnett Ph.: 333-7880 Email: WBurnett@OdessaEcoDev.com Odessa Chamber of Commerce Fax: 333-7858 Director of Economic Development 700 N. Grant, 2nd Floor Odessa, Texas 79761 15. Gloria Wright Ph.: 614 2156 Email: gloriawright123@gmail.com Odessa Black Chamber of Commerce Cell: 352-1926 700 N. Grant, Suite Odessa, Texas 79761 16. Ph.: 339-6422 Email: Odessahcc@OdessaHCC.org Odessa Hispanic Chamber of Commerce with cc to: bcquiroz@gmail.com 119 W 4th Street Odessa, Texas 79761 1. Terms are for two years. 2. Committee members are restricted to no more than three consecutive terms. Time served prior to the initial term described above shall not be considered in the application of this restriction. 3. The chairman shall be appointed by the committees for a one-year term. 4. Committee members shall continue to serve until their successor is appointed unless they resign or unless removed by the Board. A person appointed to continue a term shall serve until that term is completed and is eligible for reappointment. Time served in a partial term shall not be counted when interpreting the two-term restriction. 5. A term is assigned to each committee member for the purpose of determining when the appointment should be reconsidered and not to confer any official status to the committee member. All committee members are at-will and their services are advisory to the ODC Board. 6. At least five persons shall be appointed to each committee. 7. Ex Officio non-voting members shall include a Councilmember appointed by City Council, City Finance Director and City Attorney or their designees, Chamber of Commerce Director of Economic Development and the Presidents of the Odessa Black Chamber of Commerce and Odessa Hispanic Chamber of Commerce or their designees. LECH_SHARE\(A) Administrative\(A-5) Organization\A-5-77 ODC\Member Lists - Compliance\CC Members 01/09/2020 Page 2 of 2  ODESSA DEVELOPMENT CORPORATION CITY OF ODESSA, TEXAS JANUARY 9, 2020 Appoint Board members to committees. Motion was made by Mr. Collins and seconded by Mr. Cole that the following appointments be made: Partnership – Tim Edgmon Tax Incentive – Melanie Hollmann and David Boutin Advertising – Gene Collins and Tim Edgmon DOI Design – Chris Cole and Gene Collins The motion was approved by unanimous vote  EXHIBIT "A" BYLAWS OF ODESSA DEVELOPMENT CORPORATION CB: ECONOMIC-ODC\Bylaws and Amendments\Bylaws revised 2017\09.25.17 Page 1 of 10  EXHIBIT "A" Section 2.7 Committees of the Board. The Board may designate two or more directors to constitute an official committee of the Board to exercise such authority of the Board as may be specified in the resolution. It is provided, however, that all final, official actions of the Corporation may be exercised only by the Board. Each committee so designated shall keep regular minutes of the transactions of its meetings and shall cause such minutes to be recorded in books kept for that purpose in the principal office of the Corporation. Section 2.8 Other Committees. The Board shall appoint a compliance committee and may appoint certain other committees, all in an advisory capacity to the Board. The following committees are specifically described as well as specific rules applicable to such committees. CB: ECONOMIC-ODC\Bylaws and Amendments\Bylaws revised 2017\09.25.17 Page 3 of 10  EXHIBIT "A" a. Compliance Committee - This committee shall be responsible for reviewing the qualifications of all applicants as well as their proposals and also reviewing all agreements between the corporation and any beneficiary to make sure of compliance with its bylaws, except as otherwise hereafter provided. Policies should be in place to provide for the compliance committee to make recommendations to the ODC Board regarding eligibility, required number of jobs, payroll, investment, economic development incentives, economic impact on the community, financial ability of the applicant and feasibility of applicant’s business plan. There should be written policies or guidelines in place to give direction to the Economic Development Department of the Chamber of Commerce (“EDD”) and to provide procedures for processing applications. The policies shall be prepared by the committee and submitted to the Board for final approval. The policies shall be reviewed by the committee on an annual basis. A majority of the committee members shall have experience in commercial banking, lending, accounting, insurance or law. This committee shall be comprised of people who would be willing to volunteer their time in an advisory capacity to the Board. Applicants for Downtown Odessa, Inc. façade and infrastructure grants that have received a recommendation from the Downtown Odessa, Inc. Design Committee shall not be required to obtain a recommendation from the Compliance Committee. b. Budget, Finance and Audit Committee - This committee, if appointed, would have the responsibility of working with the Board in the formation and promotion of the annual budget of the corporation. This committee would also monitor all budget expenditures and investments of the corporation. c. Committee for Business Retention and Expansion - This committee, if appointed, would work with the directors of the corporation to keep them informed of all development and activities concerning business retention and expansion. d. Committee for New Business Attraction and Recruitment - This committee, if appointed, would work with the corporation’s Board and keep them informed of all developments and activities concerning business attraction and recruitment. e. It is important that all committee members be actively involved in the affairs of their committee and that their attendance at committee meetings be excellent. They should also be available for special meetings if necessary and receptive to any other form of communication. The following rules shall apply to all committees: (i) If a member misses more than three consecutive called meetings without an excuse, , the Board may dismiss that member by appointing a new member for that position. (ii) The City Secretary shall draw lots for all of the existing committee members so that one-half shall draw two-year terms and one-half shall draw one-year terms. After such initial term, all members shall serve two-year terms. (iii) Committee members are restricted to no more than three consecutive terms. Time served prior to the initial term described above shall not be considered in the application of this restriction. (iv) The chairmen shall be appointed by the committees for a one-year term. The existing chairmen shall continue to serve for the first one-year term. CB: ECONOMIC-ODC\Bylaws and Amendments\Bylaws revised 2017\09.25.17 Page 4 of 10  EXHIBIT "A" (v) Committee members shall continue to serve until their successor is appointed unless they resign or unless removed by the Board. A person appointed to continue a term shall serve until that term is completed and is eligible for reappointment. Time served in a partial term shall not be counted when interpreting the two-term restriction. (vi) A term is assigned to each committee member for the purpose of determining when the appointment should be reconsidered and not to confer any official status to the committee member. All committee members are at-will and their services are advisory to the ODC Board. (vii) Ten members shall be appointed by the ODC Board to the Compliance Committee and a quorum shall be four. Eight members shall be appointed by the ODC Board to the Budget, Finance and Audit Committee and a quorum shall be four. Any other standing committee, shall consist of at least five appointed members and a quorum shall consist of one-half of its members. (viii) The Compliance Committee shall also include three non-voting ex-officio members that shall include one representative from the Black Chamber of Commerce, Odessa Chamber of Commerce and Odessa Hispanic Chamber of Commerce, as appointed by each entity. Section 2.9 Compensation of Directors. Directors shall not receive any salary or compensation for their services as directors. However, they shall be reimbursed for their actual expenses incurred in the performance of their duties hereunder as prescribed in Article IV, Section 8. CB: ECONOMIC-ODC\Bylaws and Amendments\Bylaws revised 2017\09.25.17 Page 5 of 10