Odessa Development Corporation

SUPPLEMENTAL PUBLIC NOTICE ADDENDUM TO AGENDA 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 Thursday, April 14, 2022 at 2:00 p.m. in the Council Chambers, fifth floor, City Hall, 411 W 8th St. Odessa, Texas for the following purposes: The following item is hereby added to the previously posted agenda for the regular Odessa Development Corporation meeting on Thursday. Appoint an ODC board member to the MOTRAN Board 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, this the ______ day of April 2022 at __________ ___.m., said time being more than seventy-two hours prior to the time at which the subject meeting will be convened and called to order. The public notice is also posted on the City of Odessa’s website www.odessa-tx.gov 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, TRMC, CMC City Secretary  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 Thursday, April 14, 2022, at 2:00 p.m. in the City Council Chambers - City Hall, 5th Floor, 411 W. 8th Street, Odessa, Texas 79761, for the purposes: See Attached Agenda 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 _______________, 2022, 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, TRMC,CMC City Secretary  ODC Meeting Agenda April 14, 2022 2:00 p.m. 1. Invocation 2. Consider Minutes of March 10, 2022 ODC Board 3. Contractors’ reports: A. Economic Development Dept.-Odessa Chamber ...................... Tom Manskey B. CVA Advertising & Marketing............................................ Craig Van Amburgh C. Black Chamber of Commerce ...................................................... Chris Walker D. UTPB-America’s SBDC ................................................................ Tyler Patton E. MOTRAN ........................................................................... James Beauchamp F. City Administrative Support; Financials.............................................. Larry Fry Any member of the public may address the ODC Board regarding any of its agenda items before or during the consideration of the item. 4. Consider Economic Development Agreement with Downing Wellhead Equipment Jefferson Cox 5. Consider Downtown Façade and Infrastructure Agreements with Little McJack Casey Hallmark Properties, LLC 6. Discuss proposed FY 2022-2023 Budget Calendar ODC Board 7. ODC Committee and Officer reports: A. Partnership ................................................... David Boutin, Melanie Hollmann B. Tax Incentive ................................................ Melanie Hollmann, David Boutin C. Advertising ............................................. Chris Cole, James Kirk, Tim Edgmon D. DOI Grants Design Review Board .............Larry Robinson, Melanie Hollmann 8. Citizen comments on non-agenda items 9. 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 FOR THE RECORD. Delay or interruption of the proceedings will not be tolerated.  ODESSA DEVELOPMENT CORPORATION MINUTES CITY OF ODESSA, TEXAS March 10, 2022 A regular meeting of the Odessa Development Corporation (ODC) was held on March 10, 2022, at 2:00 p.m. in the Council Chambers, 5th floor, City Hall, 411 W. 8th St. Odessa, Texas. Members present: Tim Edgmon, David Boutin, Melanie Hollmann, Larry Robinson, Kris Crow, and James Kirk. Member absent: Chris Cole. Others present: City Staff: Michael Marrero, City Manager; Norma Aguilar-Grimaldo, City Secretary; Natasha Brooks, City Attorney; and Cindy Muncy, Assistant City Manager; Larry Fry, Director of Finance; Casey Hallmark, Downtown Odessa Executive Director; Jan Baker Senior Assistant City Attorney; and Christina Buhnerkempe, Legal Assistant; and ODC Contractors: Tracy Jones, Economic Development; Tyler Patton, UTPB- SBDC; Craig Van Amburgh, CVA; James Beauchamp, MOTRAN; Chris Walker, Black Chamber of Commerce; Tom Manskey, Economic Development; Renee Earls, Chamber of Commerce; and Others: Council members Mari Willis, Steven Thompson, Denise Swanner, Detra White, and Mark Matta; and other interested citizens. A quorum being present, Mr. Edgmon called the meeting to order, and the following proceedings were held: Wesley Burnett gave the invocation. Remove from the table to appoint officers: President, Vice President, and Assistant Secretary. Motion was made by Mr. Boutin and seconded by Mr. Crow to remove the item from the table. The motion was approved by unanimous vote. Mr. Edgmon recommended the following slate of officers: President: David Boutin, Vice President: Melanie Hollmann, and Assistant Secretary: Kris Crow. Motion was made by Mr. Crow and seconded by Dr. Kirk to approve the recommended officers. The motion was approved by unanimous vote. Mr. Boutin began to run the meeting. February 10, 2022 minutes. Motion was made by Ms. Hollmann and seconded by Mr. Edgmon to approve the minutes as amended. The motion was approved by unanimous vote. ODC Minutes March 10, 2022 Page 2 Contractors’ reports: Economic Development Department - Odessa Chamber, CVA Advertising and Marketing, Black Chamber of Commerce, UTPB-America’s SBDC, MOTRAN, and City administrative support - financials. Mr. Manskey stated that Project Frost was an expansion with 15-30 new jobs. Project Big Red representatives were reviewing the contract. He reviewed the activities. He stated a new economic development software would provide tracking with each project and a report could be generated. The software could determine the type of contacts made with any lead or project. Mr. Manskey recommended a sales tax workshop that could be scheduled for the board members, in conjunction with a retreat. Mr. Van Amburgh reported on February’s activities. The golf programming on television had ODC local business expansion messages. The billboard and newspaper advertising messages were being updated. Social media was up slightly. Mr. Robinson reported that some of the reports and newsletters needed to be updated on the website. Mr. Walker reported that the Black Chamber of Commerce February’s digital display of local heroes was successful There was an increase in its membership and social media. The Black Chamber would aid in providing food boxes with St. James Baptist Church. The Black Chamber was working with a nonprofit to help clean up the community. Mr. Patton reported on SBDC’s February activity. He reported on seminars and attendees. He reviewed the types of workshops for March. Total capitalization was $3.5 million. The three new businesses were not in Odessa. He stated that the best workshops were the COVID and disaster funding. Prior to COVID, the best workshops were access to capital and marketing. Mr. Beauchamp reported that Southwest Airlines nonstop to Austin would be marketed and had two direct marketing campaigns. He reported the broadband level of the service mapping with the underserved businesses. There were 127 businesses along I-20 in Ector County that had access to fiber cable. Mr. Fry reported on January’s financial report. He reported the total assets, liabilities, revenues, and expenditures. There were no new investments made. The March sales tax received was $829,124.82 which was an increase from last year. Total sales tax was $5,771,551.26 which was a 15.63% increase. Motion was made by Dr. Kirk and seconded by Ms. Hollmann to approve the January financial report. The motion was approved by unanimous vote. Resolution No. ODC-2022R-04 - Discuss and consider the ODC draft audit report. Mrs. Muncy stated that Weaver completed the draft audit for fiscal year ending September 30, 2021. Greg Peterson stated that the report had an unmodified opinion. He reviewed the audit. He reviewed the balance sheet, committed funds, revenues, and expenditures. The audit included a summary of accounting policies and schedule of committed funds. The notes to the financial statements included a weighted average of investments. Mr. Peterson stated that there were no instances of noncompliance. Motion was made by Dr. Kirk and seconded by Mr. Edgmon to approve the draft audit report. The motion was approved by unanimous vote. Resolution No. ODC-2022R-05 - Request from Icon Tavern for an extension of time to complete the downtown infrastructure and façade projects. Ms. Hallmark stated ODC Minutes March 10, 2022 Page 3 that Icon Tavern received infrastructure and façade grants on June 21, 2021 with a deadline of no later than 12 months. Due to construction delays, Icon Tavern requested a 90 day extension to complete the construction. Shawn Rodriguez, Icon Tavern, stated that production would start and completion would be close by June. Icon would be open before the NFL season. There were unexpected delays were due to COVID and contractor issues. Motion was made by Mr. Crow and seconded by Dr. Kirk to approve the resolution and extend the deadline for completion to September 30, 2022. The motion was approved by unanimous vote. Discuss and consider approving the Downtown Grants Policy. Ms. Hallmark recommended a change to Article III 3.1.3 ii and iii. She suggested to add the applicant to have operated the business. Ms. Hollmann agreed. Exhibit B was to be a list from SBDC for the required seminars. The three required seminars were financial, marketing and a choice of listed options. The seminars would have to be completed before seeking reimbursement. The list would be subject to change based on SBDC, so language referencing the then current SBDC list would be inserted instead of Exhibit B. Motion was made by Ms. Hollmann and seconded by Mr. Crow to approve the Downtown Grants Policy as amended. The motion was approved by unanimous vote. Discuss and consider a potential ODC checking account. Mr. Boutin stated that after the explanation from City staff there was not a reason to have a separate checking account. He stated approval was needed for the transfer of ODC funds and it was audited. Mrs. Muncy explained the process detail of the transfer of ODC funds that included a coded number. She stated it was unlikely to miscode the account as there was the approval process and Mr. Fry reviewed the details of the accounts for the financial statements. The funds were transferred from the ODC TexPool to the City’s TexPool. The amount of the transfer was an exact amount and not rounded. No further action was taken. Remove from the table to appoint ODC board members to committees. Motion was made by Mr. Edgmon and seconded by Ms. Hollmann to remove the item from the table. The motion was approved by unanimous vote. Motion was made by Dr. Kirk and seconded by Mr. Edgmon to appoint the following: Partnership: David Boutin and Melanie Hollmann Tax Incentive: David Boutin and Melanie Hollmann Advertising: Chris Cole, James Kirk, and Tim Edgmon Downtown Grants Design Review Board: Larry Robinson and Melanie Hollmann The motion was approved by unanimous vote. ODC Committee and Officer Reports: Partnership, Tax Incentive, Advertising and Downtown Grants Design Review Board. No reports. Citizen comments on non-agenda items. None. ODC Minutes March 10, 2022 Page 4 There being no additional business, Mr. Boutin adjourned the meeting at 3:10 p.m. ATTEST: APPROVED: Norma Aguilar-Grimaldo, TRMC, CMC David Boutin City Secretary President  Odessa Chamber of Commerce Economic Development Services for the Odessa Development Corporation March 2022 Projects Project Frost • Expansion and modernization of existing business in Ector County. • CapEx is expected to be between $300 and $350 million • Create 15-30 new FTE’s • Retain 105 existing jobs • Currently coordinating meetings with taxing entities Project Legion • $28 billion CapEx • 2,800 jobs, build out over 6 years • Coordinated meetings with taxing entities to begin the process of negotiating incentives Project Circular • New company in energy services business • CapEx expected to be between $1.5 and $2 million • Create 10 new FTE’s Project Big Red – Taylor Sudden Services • This is a local company looking to expand their operations in Odessa. The company manufactures/repairs heavy duty forklifts, container handlers and lift trucks. • CapEx of $3,200,000.00 • The company will retain 31 jobs and create 24 new jobs • The Compiance Committee made a recommendation to the ODC Board for a capital investment and job creation grant • The ODC Board will make a grant recommendation to City Council 1 • The Odessa City Council approved the grant for this project. We are working on the economic development agreement • Company reviewing Economic Development Agreement • Company reviewing their expansion plans, will keep in contact Project Build – Rhodes, USA • Building materials manufacturer, facility in Lubbock • CapEx of $2.5 million for equipment only, $10 million if they build • 71 FTE, W-2 jobs. Annual payroll, $3,439,000 • Possible location in Odessa being considered • Initial meeting to discuss project • Draft application submitted • Information and discussion necessary for final application • Waiting on additional information for application • Compliance met, additional information requested • Compliance will meet again on December 2nd to discuss the project • Compliance and ODC will recommend to the Council a job creation and capital investment grant • Odessa City Council approved the grant for this project. We are working on the economic development agreement • Company continues to review Economic Development Agreement Project CTV • CO2 recovery/capture project • $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 • Received letter of Completeness, progressing to taxing entities for consideration • County meeting on incentives, awaiting further action • Comptroller certification received for Chapter 313, agreement with ECISD on September agenda • OC approved tax abatement • Other entities in discussions • ECISD approved Chapter 313 value of limitation incentive • Continue to work with taxing entities on tax abatement agreements. 2 • Consultant was in town to meet with taxing entities • Consultant submitted a preliminary application for possible ODC incentinves. Staff is reviewing information submitted Nacero • Site location consultants and staff conducted virtual site visit for a new heavy industrial manufacturing facility • $3-6 billion CapEx, 24/7 operation • 2,950 construction jobs during 3-4 year construction • 250-380 permanent employees • 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 • 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 • ODC & City Council approved $20 million/10 years. Agreement to be developed. • Agreement under review, to be on June ODC agenda • ODC and City approved economic development agreement, executed • County and OC agreements complete – County executed, OC executed • ECISD approved Chapter 313 agreement • MCH agreement in process • Awarded TEDC CEDA award in October for Community Excellence in Economic Development Project • Received the preliminary TCEQ permit • Received TCEQ Air Permit and close on some of the property in Penwell. Additonal closings are scheduled late January • Construction bid packets went out in December, they are due the end of February and bids should be awarded in April • Hal Bouknight recently visited Odessa to update city/county officials on the status of the project. They company plans a groundbreaking ceremony as soon as they can confirm a date for Governor Abott to attend. The contractor for the project is being finalized now and is a Texas contractor. They continue to work with CRMWD on water and TxDot on access to the property. 3  • Company continues to work with the Office of the Governor to schedule a groundbreaking Local Business Retention and Expansion • Continue to work with a couple of local companies to complete their application to present to the Compliance Committee. • 7 business consultations in office • 6 business visits out of office Odessa Partnership • Odessa Partnership meeting scheduled for April 28, 2022 Housing • 7 single family, 6 townhomes. Funding has begun. • Staff and Compliance Committee working with OHFC and potential housing development company interested in partnership for affordable housing projects. The developer plans to build manufacturing facility in Odessa, Project Build – Rhodes, USA. Rhodes, USA reviewing their Economic Development Agreement. Services and Other Activities • Certificate of Origin, Eckel Manufacturing for parts shipping to Kuwait • January and February employment figures available, report and website updated • January and February Odessa Development News sent out via Mailchimp and posted to website • Sales Tax information sent to Janice Havens, Havens Group • January Ingham Economic Index reports sent via Mailchimp and posted to website • Certificate of Origin, Texas Specialty Ball Company for parts shipping to Saudi Arabia • Odessa Colleg Career Fair flier sent to Mailchimp list 4  Partner Visits Office of the Governor – Nacero Director Odessa Chamber Business After Hours – Frost Bank Director and Staff Business Roundtable Discussion Director Alpha Resources – Debra Johnson Director and Staff Site Selectors Guild Annual Conference – San Diego Staff ECISD – State of the District Director Chamber Directors Meeting Director EDD Staff Meeting Director and Staff She Can Womens Conference Staff Midland Economic Developmemt – Sara Harris Director Anchor Institution Stakeholder Consultation Director CoStar Review Director and Staff EDOiQ Demonstration Director and Staff CVA Advertising Meeting Director and Staff Jobs EQ Webinar – How to Accurately Forecaset Job Growth Staff Chamber of Commerce Staff Meeting Director and Staff ODO Airport Layout Plan PAC1 Meeting Staff Opportunity Odessa Roundtable Director Odessa Chamber Board of Directors Meeting Director Sewell Leadership Event Staff 5 Washington DC Flyin -Odessa/Midland Director Odessa Chanber Executive Committee Meeting Director and Staff UTPB / LBJ: Steering Committee Meeting Director NTACT Director 6 ODESSA DEVELOPMENT CORPORATION MARCH 2022 ACTIVITIES TELEVISION Our golf packages on NBC and CBS continue with Nick Fowler and Robert Chavez lo- cal business expansion messages. OUTDOOR ADVERTISING CVA has completed new billboard messages focused on local business expansion and retention. Samples are attached to this report. PUBLICATIONS CVA designed and scheduled a 2/3 page ad promoting Odessa as a great place to move or expand a new business, as well as a tourism destination, in the upcoming spring edition of the digital/printed editions for US and European distribution of Newsweek magazine. This special edition will focus on West Texas and feature inter- views with Odessa leaders. Cost of the ad is being split by the Economic Development Department and Discover Odessa Tourism Department of the Chamber of Commerce. A sample of the ad is attached to this report. In addition, 1/2 page ad has been designed to run in the upcoming Texas Guide edition of Site Selection magazine. A sample is also attached to this report NEWSPAPER ADVERTISING New newspaper ads have been designed to run in Sunday editions of the Odessa American. Samples of these ads are attached. WEBSITE New updates were made to the ODC website including the addition of Mr. Kirk’s name and photo to the ODC board listing, current Cost of Living and Home Value graphics, and an opt in feature that, once checked by the interested party, allows the distribution of marketing materials and information to that individual. CVA 4105 Faudree Rd., Odessa, TX 79765 T 432-368-5483 F 432-366-9434 E craig@cvaadv.com www.cvaadv.com  ODC SOCIAL MEDIA ODC Overview In March, ODC’s overall social media engagement and shares across all platforms were generally positive. Facebook metrics were down when it comes to actions on the page: views, page likes, video views, etc., but positive when it comes to post engagement and reach. Twitter was up on all metrics with the exception of profile visits. ODC Facebook Over the last month on Facebook, we have continued to generate content from rele- vant articles of local news organizations. Last month showed an astounding jump in page likes and followers, up 800%, and page views were also up 76%, so perhaps not surprisingly, those metrics were down this month. However we gained ground on our engagement, which was up 152%, and our post reach was up 68%. Our most popular posts were about our new Economic Development Director, Tom Manskey, and OC of- fering two new degrees. 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. Tweet volume was up 83%, and impressions were up 59% this month. Profile visits were down 30%, and fol- lowers were relatively flat, up 1. Our top tweets this month were about a record high level of production from the Permian Basin, and the Odessa College career fair. ODC Website The ODC website is trending in a positive direction. The largest source of traffic in March was direct website entry at 53%, followed by organic search at 41%. The top pages for views in order were the home page, location and maps, and demographics. Permian Fuels America Facebook The Permian Fuels America Facebook was positive this month. Page likes were up 5%, reach up 3%, and engagement was up 22%. Shares were up significantly after our top two posts being shared 69 and 27 times, both with impressive engagement. The top CVA 4105 Faudree Rd., Odessa, TX 79765 T 432-368-5483 F 432-366-9434 E craig@cvaadv.com www.cvaadv.com post was about energy production being a national security concern, and the Permian potentially filling the gap left by Russian oil being removed from the market. Permian Fuels America Twitter Twitter metrics were mixed this month. Tweet impressions were up 183%, followers were up 1, and profile visits were down 64%. The most popular tweets this month were the same as Facebook, energy production being a national security concern, and the Permian potentially filling the gap left by Russian oil being removed from the market. Permian Fuels America Website Website traffic continued the increases seen in February. 54% of website traffic was from search engines Google and Baidu, 24% from direct entry, and 13% from Face- book. CVA 4105 Faudree Rd., Odessa, TX 79765 T 432-368-5483 F 432-366-9434 E craig@cvaadv.com www.cvaadv.com  New Billboard Designs CVA 4105 Faudree Rd., Odessa, TX 79765 T 432-368-5483 F 432-366-9434 E craig@cvaadv.com www.cvaadv.com  Newsweek 2/3 Page Ad CVA 4105 Faudree Rd., Odessa, TX 79765 T 432-368-5483 F 432-366-9434 E craig@cvaadv.com www.cvaadv.com  Site Selection Texas Guide 1/2 Page Ad CVA 4105 Faudree Rd., Odessa, TX 79765 T 432-368-5483 F 432-366-9434 E craig@cvaadv.com www.cvaadv.com  Odessa American Display Ad and Digital Ad Time t Expand? Let ODC Help If you are considering expanding or relocating your business in Odessa, the ODC might be able to help. From providing financial incentives to helping you find the right location for your business, the Odessa Development Corporation can help you take your business to the next level. Give the Economic Development Departmentof the Odessa Chamber a call 432-333-7880, or visit odessatex.com. CVA 4105 Faudree Rd., Odessa, TX 79765 T 432-368-5483 F 432-366-9434 E craig@cvaadv.com www.cvaadv.com  Odessa Development Corporation Digital Report March, 2022 Total Social Overview Facebook Overview Top Facebook Posts Twitter Overview Top Tweets Website Performance The Permian Fuels America Digital Report March, 2022 TPFA Social Overview Facebook Overview Top Facebook Posts Twitter Overview Top Tweets Website Performance  UTPB SMALL BUSINESS DEVELOPMENT CENTER 2021-2022 New Business Start-Ups & Expansions March-22 ODESSA OTHER LOCATIONS ACTIVITIES Counseling New Businesses 1 New Businesses 2 300 Seminars 4 Sessions Am Am FTE's 11 FTE's 6 5 0 Ind/N/Alaskan Ind/N/Alaskan Asian/pac. Asian/pac. 6 0 Islander Islander Black 34 Black 6 Hispanic 140 Hispanic 10 Non-Hispanic 143 Non-Hispanic 15 Total Clients 72 Total Attendees 26 Counseling 294 Training Hours 26 Hours Cumulative End of Year 2021-2022 2020-2021 Oct-21 Nov-21 Dec-21 Jan-22 Feb-22 Mar-22 Apr-22 May-22 Jun-22 Jul-22 Aug-22 Sep-22 Totals Totals Counseling Sessions 384 285 226 252 239 300 0 0 0 0 0 0 1686 4453 Counseling Hours 289 202 185 209 197 230 0 0 0 0 0 0 1312 3084 Seminars Presented 5 1 3 2 3 4 0 0 0 0 0 0 18 47 Attendees 80 9 29 24 41 26 0 0 0 0 0 0 209 696 Training Hours 80.0 9.0 29.0 24.0 41.0 26.0 0.0 0.0 0.0 0.0 0.0 0.0 209.0 789.0 New Businesses 4 5 2 3 3 3 0 0 0 0 0 0 20 50 Odessa New Business 3 2 1 3 0 1 0 0 0 0 0 0 10 19 Expansions 1 0 0 0 0 1 0 0 0 0 0 0 2 1 Capitalization $1,146,076 $503,000 $450,000 $686,150 $3,500,000 $1,860,000 $0 $0 $0 $0 $0 $0 $8,145,226 $29,637,480 Odessa $304,000 $183,000 $293,000 $582,150 $0 $1,530,000 $0 $0 $0 $0 $0 $0 $2,892,150 $9,448,903 Capitalization Total FTE's 25 6 9 5 17 17 0 0 0 0 0 0 79 192 4/1/2022 KAM  ODESSA DEVELOPMENT CORPORATION BALANCE SHEET FEBRUARY 2022 ASSETS Investments - Local Government Pools $ 39,105,100 Investments - CDs and CDARs 4,225,662 Investments - Municipal Securities 5,127,159 Investments - Money Market 13,786,439 Receivables 9,792 Prepaids - TOTAL ASSETS $ 62,254,152 LIABILITIES Accounts Payable $ 181,534 TOTAL LIABILITIES $ 181,534 FUND BALANCE Reserved - Short Term Commitments Due Within One Year FMC Technologies $ 76,400 Glazer's Beer & Beverage 226,998 Select Energy 18,374 UTPB - 2nd Project Training Facility 1,500,000 UTPB - 3rd Project Training Facility 700,000 Kaige Industries, LLC 63,600 Apergy (Champion X) 200,000 Nacero 2,000,000 Total Short Term Commitments $ 4,785,372 Reserved - Long Term Commitments Due in More Than One Year FMC Technologies - Glazer's Beer & Beverage 226,999 Select Energy 18,375 UTPB - 3rd Project Training Facility 700,000 Kaige Industries, LLC 190,800 Apergy (Champion X) 400,000 Odessa College - 3rd Project Training Facility 5,000,000 Nacero 18,000,000 Ellen Noel Art Museum 600,000 Total Long Term Commitments 25,136,174 Total Reserved 29,921,546 Assigned (TXDOT Projects) 9,000,000 Assigned (Workforce Housing Infrastructure Incentives) 4,936,759 Unreserved 18,214,313 TOTAL FUND BALANCE $ 62,072,618 TOTAL LIABILITIES AND FUND BALANCE $ 62,254,152  ODESSA DEVELOPMENT CORPORATION STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE TOTAL BUDGET COMPARISON FEBRUARY 2022 TOTAL REMAINING BUDGET ACTUAL - YTD BALANCE REVENUES 4-A Sales Tax Receipts $ 9,500,000 $ 4,942,430 $ (4,557,570) Miscellaneous Income/Refunds - - - Interest Income 150,000 44,912 (105,088) Gain and or (Loss) on Investments - (45,698) (45,698) TOTAL REVENUES $ 9,650,000 $ 4,941,644 $ (4,708,356) EXPENDITURES Supplies and Materials $ 1,500 $ 168 $ 1,332 Audit and Compliance Services 40,000 28,090 11,910 Special Services 75,000 - 75,000 Insurance 18,030 16,527 1,503 Bank Services 7,000 1,484 5,516 Administration Fee - City of Odessa 205,349 85,565 119,784 Contingencies 100,000 - 100,000 Contracted Economic Development Services Chamber of Commerce 1,075,397 523,282 552,115 MOTRAN 142,500 71,250 71,250 UTPB - Small Business Center 108,183 54,092 54,092 Promotional Marketing 615,754 140,433 475,321 Odessa Black Chamber of Commerce 25,000 12,500 12,500 Façade Grants 150,000 20,459 129,541 Business Incentives 55,000,000 - 55,000,000 Infrastructure Grants 200,000 - 200,000 TOTAL EXPENDITURES $ 57,763,713 $ 953,850 $ 56,809,861 EXCESS (DEFICIENCY) OF REVENUE OVER EXPENDITURES $ (48,113,713) $ 3,987,794 $ 52,101,507 FUND BALANCE - AT BEGINNING OF YEAR $ 58,084,824 $ 58,084,824 $ - FUND BALANCE - AT END OF YEAR $ 9,971,111 $ 62,072,618 $ 52,101,507  ODESSA DEVELOPMENT CORPORATION CHANGES IN RESERVED FUND BALANCE FEBRUARY 2022 Reserved - Short 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 Select Energy 18,374 18,374 - 2018-19 2022-23 Glazer's Beer & Beverage 226,998 226,998 - 2014-15 2023-24 UTPB - 2nd Project Training Facility 1,500,000 1,500,000 - 2017-18 2021-22 UTPB - 3rd Project Training Facility 700,000 700,000 - 2020-21 2022-23 Kaige Industries, LLC 63,600 63,600 - 2020-21 2024-25 Apergy (Champion X) 200,000 200,000 - 2020-21 2024-25 Nacero 2,000,000 2,000,000 - 2021-22 2030-31 Total Short Term Commitments $ 4,785,372 $ 4,785,372 $ - Reserved - Long Term Commitments Dates in Fiscal Years Current Month Prior Month Month End Change Pmt Began Expires FMC Technologies $ - $ - $ - 2017-18 2021-22 Glazer's Beer & Beverage 226,999 226,999 - 2019-20 2023-24 Select Energy 18,375 18,375 - 2018-19 2022-23 UTPB - 3rd Project Training Facility 700,000 700,000 - 2020-21 2022-23 Kaige Equipment, LLC 190,800 190,800 - 2020-21 2024-25 Apergy (Champion X) 400,000 400,000 - 2020-21 2024-25 Odessa College-3rd Project Training Facility 5,000,000 5,000,000 - - - Nacero 18,000,000 18,000,000 - 2021-22 2030-31 Ellen Noel Art Museum 600,000 600,000 - - - Total Long Term Commitments $ 25,136,174 $ 25,136,174 $ - Total Reserved Fund Balance $ 29,921,546 $ 29,921,546 $ -  ODESSA DEVELOPMENT CORPORATION INVESTMENT SUMMARY FEBRUARY 2022 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 $ 38,761,862 $ 1,153,049 $ 2,260 $ 812,071 $ 39,105,100 CD'S AND CDARS 4,224,082 - 1,580 $ - 4,225,661 SAVINGS AND MONEY MARKETS 14,760,544 - 23,515 997,620 13,786,439 MUNICIPAL BONDS 4,140,997 997,620 (11,457) - 5,127,159 AGENCY NOTES - - - - - TOTAL $ 61,887,485 $ 2,150,669 $ 15,898 $ 1,809,691 $ 62,244,361 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 2022 Beginning of Month INVESTMENT TYPE YTM MATURITY PAR FAIR** Local Government Investment Pools TexPool 0.04% Open $ 26,679,914 $ 26,679,914 Logic 0.09% Open 12,081,948 12,081,948 Total Local Government Investment Pools $ 38,761,862 $ 38,761,862 Weighted Average Rate Per Pools Total 0.05% Money Market Investment Frost Money Market 0.06% Open 14,760,544 14,760,544 Total Money Market $ 14,760,544 $ 14,760,544 Weighted Average Rate Per MM Total 0.06% CD AND CDARs Investments First Bank and Trust - 17 Month CD 0.25% 11/30/22 $ 2,173,000 $ 2,220,134 West Texas National Bank - 12 Month CD 0.50% 9/8/22 $ 2,000,000 2,003,948 Total CD and CDARs Investments $ 4,173,000 $ 4,224,082 Weighted Average Rate Per CD's Total 0.37% Municipal Securities Bergen Cnty NJ Impt B Tax 2.00% 8/15/22 $ 1,000,000 1,006,740 Dallas Tex ISD A Tax Pref 4.00% 8/15/22 360,000 366,469 Dallas Tex ISD A Tax Pref 4.00% 8/15/22 260,000 264,698 Judson Tex ISD Tax 0.591% 2/1/24 500,000 494,040 Connecticut St A Tax 2.500% 7/1/22 1,000,000 1,008,310 West Orange Twp NJ B Tax 1.000% 11/11/22 1,000,000 1,000,740 Total Municipal Securities $ 4,120,000 $ 4,140,997 Weighted Average Rate Per Munis Total 2.01% TOTAL INVESTMENTS 0.25% $ 61,815,406 $ 61,887,485 ** 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 2022 End of Month INVESTMENT TYPE YTM MATURITY PAR FAIR** Local Government Investment Pools TexPool 0.06% Open $ 27,022,150 $ 27,022,150 Logic 0.11% Open 12,082,949 12,082,949 Total Local Government Investment Pools $ 39,105,100 $ 39,105,100 Weighted Average Rate Per Pools Total 0.08% Money Market Investment Frost Money Market 0.06% Open $ 13,786,439 $ 13,786,439 Total Money Market $ 13,786,439 $ 13,786,439 Weighted Average Rate Per MM Total 0.06% CD AND CDARs Investments First Bank and Trust - 17 Month CD 0.25% 11/30/22 $ 2,173,000 $ 2,220,597 West Texas National Bank - 12 Month CD 0.50% 9/8/22 2,000,000 2,005,065 Total CD and CDARs Investments $ 4,173,000 $ 4,225,662 Weighted Average Rate Per CD's Total 0.37% Municipal Securities Bergen Cnty NJ Impt B Tax 2.00% 8/15/22 $ 1,000,000 1,005,150 Dallas Tex ISD A Tax Pref 4.00% 8/15/22 360,000 365,263 Dallas Tex ISD A Tax Pref 4.00% 8/15/22 260,000 263,827 Judson Tex ISD Tax 0.59% 2/1/24 500,000 493,080 Connecticut St A Tax 2.50% 7/1/22 1,000,000 1,006,020 West Orange Twp NJ B Tax 1.00% 11/11/22 1,000,000 999,440 Miami-Dade Cnty Fla B Tax 1.30% 7/1/23 1,000,000 994,380 Total Municipal Securities $ 5,120,000 $ 5,127,160 Weighted Average Rate Per Munis Total 1.87% TOTAL INVESTMENTS 0.31% $ 62,184,539 $ 62,244,361 ** Amount does not reflect prior period market adjustments and represents fair market value adjustment as of current period end only.  ODESSA DEVELOPMENT CORPORATION BOARD MEETING AGENDA ITEM Meeting Date Contact Department Item Type 04/14/2022 Jefferson Cox Compliance Committee Resolution? Y  N  CAPTION Consider approving an economic development agreement with Downing Wellhead Equipment, LLC. (Resolution) SUMMARY Downing Wellhead Equipment, LLC (“Company”) submitted an application for an economic development grant. Downing is a domestic oilfield solution provider specializing in pressure-control technologies. Downing proposes expending $1,065,000 in capital investment and transferring 62 jobs from Midland County to Odessa and creating 46 new jobs in Odessa. Over the next 5 years, this will translate in to $7,292,700 in payroll. The Compliance Committee reviewed this application during their meeting on April 7, 2022 and recommend a grant in the amount of $1,640,000 for a five-year term. Comments/Other Departments, Boards, Commissions or Agencies Supporting Documents Resolution Compliance Committee Recommendation S:\LECH_SHARE\(A) Administrative\(A-5) Organization\A-5-77 Odessa Development Corporation ODC\ODC Agendas\ODC Agenda Item Form  RESOLUTION NO. ODC-2022R-__ A RESOLUTION OF THE BOARD OF DIRECTORS OF THE ODESSA DEVELOPMENT CORPORATION, APPROVING AN ECONOMIC DEVELOPMENT AGREEMENT WITH DOWNING WELLHEAD EQUIPMENT, LLC; AUTHORIZING THE EXECUTION OF ANY DOCUMENTS NECESSARY TO IMPLEMENT THIS RESOLUTION; APPROVING THE FINDINGS OF FACT; AND DECLARING AN EFFECTIVE DATE WHEREAS, Downing Wellhead Equipment, LLC (“Company”) proposes to operate a facility that manufactures and sells wellhead systems and advanced frac equipment, classified as #423440 of the North American Industry Classification System (NAICS) in Ector County, Texas, and WHEREAS, Company will increase primary jobs which satisfies the requirements of Sections 501 and 504 of the Local Government Code; and WHEREAS, Company plans on building a 55,000 square foot facility in Odessa in order to consolidate several smaller facilities that they have located in Midland. The total capital investment will be approximately $1,065,000; and WHEREAS, Company will transfer 62 jobs to Odessa and will add 46 more jobs over the next 5 years, for a total of 108 jobs. Over the next 5 years, this will translate in to $7,292,700 in payroll; and WHEREAS, based on the number of jobs and payroll over the next 5 years, the Company qualifies for a total grant of $1,640,000 to be paid out over the 5-year-period if the Company maintains compliance with all terms and conditions of the agreement; NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE ODESSA DEVELOPMENT CORPORATION: Section 1. That the statements of fact in the Preamble are found to be true and correct and are approved as findings. Section 2. That an Economic Development Agreement with Downing Wellhead Equipment, LLC in the amount of $1,640,000 is approved and authorized for execution. Section 3. That this resolution shall be effective at the time of its adoption. The foregoing resolution was approved and adopted on the 14th day of April, A.D., 2022, by the following vote: Kriston Crow ___ Melanie Hollmann ___ Chris Cole ___ David Boutin ___ Tim Edgmon ___ James W. Kirk ___ Larry G. Robinson ___ LECH\(A) Administrative\(A-5) Organization\A-5-77 ODC\RESOLUTIONS\2022\EDA with Downing Wellhead Page 1 of 2  Approved the 14th day of April, A.D., 2022. David Boutin, President APPROVED AS TO FORM: ATTEST: Natasha Brooks, City Attorney as Attorney for Norma Aguilar-Grimaldo, City Secretary as ODC Board Secretary for ODC Board LECH\(A) Administrative\(A-5) Organization\A-5-77 ODC\RESOLUTIONS\2022\EDA with Downing Wellhead Page 2 of 2 Compliance Committee Recommendation to ODC Board for Economic Development Incentives: Company Contact Information: Company Name: Downing Permian Basin Address: Murphy St Odessa, Texas Project: Description of Company: Downing is a domestic oilfield solution provider specializing in pressure-control technologies. They are a wholly owned subsidiary od SEF Energy and have operated for almost 40 years. The company manufactures wellhead systems and advanced frac equipment in their OKC facility and lease and repair the equipment locally. Description of Project: Consolidate two Midland locations into one location in Odessa. They will lease a facility and invest an estimated $1,065,000.00 in equipment and furnishing. Equipment will include 4 - 10-ton bridge cranes; 6 – 5-ton jib cranes; 2 – 2-ton jib cranes; a 1-ton jib crane; 3 – pressure test booths; paint booth; wash bay; and a water recycling system.X NAICS code number(s): 423440 FTE Jobs: Retained FTEs: 62 Retained Salary: $ 4,335,960.00 FTEs Added Year 1: 10 Salary Added Year 1: $ 643,129.00 FTEs Added Year 2: 12 Salary Added Year 2: $ 771,755.00 FTEs Added Year 3: 12 Salary Added Year 3: $ 771,755.00 FTEs Added Year 4: 12 Salary Added Year 4: $ 772,101.00 FTEs Added Year 5: ________ Salary Added Year 5: $________________ Total new FTEs added: ________ Total new salary added: $________________ Total FTEs at Project Total Salary at Project Completion: 108 Completion: $ 7,292,700.00 Capital Investment: Address or Legal PHX Permian Park 12313 I-20. Are also considering an existing facility on Description of Property: Murphy St. Dollar Amount of Capital Investment: $1,065,000.00 Incentives: Jobs Creation: $ 1,609,328.00 Capital Investment: $ 30,672.00 Total Incentive Recommended: $ 1,640,000.00 Select one: X One-fifth of the total grant shall be paid each year. _____ The following payment schedule is recommended over the 5-year term: Year 1 $ 328,000.00 OR ________ % of total grant Year 2 $ 328,000.00 OR ________ % of total grant Year 3 $ 328,000.00 OR ________ % of total grant Year 4 $ 328,000.00 OR ________ % of total grant Year 5 $ 328,000.00 OR ________ % of total grant l. Contact lnformation Appli canUBusiness Name (Exact legal name i.e. Corporation, LLC, Limited Partnership) Downing Wellhead Equipment, LLC Mailing Address 2601 NW Expressway, Suite 900E, Oklahoma Gity, OK 73112 Physical Address (lf different from mailing address) City State Zip Gode Oklahoma Gity OK 73112 Phone Number/ Office Fax Number 405486-7858 405-847-6086 Phone Number Cell EmailAddress Website adammourning@downingusa.com www.downingusa.com Appl icant's Representative Title Adam Mourning - 405-6254746 VP of Operations Odessa Development Corporation and the City of Odessa are public entities subject to the Open Records Act (CH. 552, Gov. Code). Applicant waives all rights to confidentiality regarding information it conveys to the Chamber, ODC, and the City of Odessa, unless it identifies in writing the information that is subject to confidentiality and such non-disclosure does not violate the Open Records Act. 4h4tV/buz/4f- Mar 7,2022 Applicant's Signature Date 2 ll. Proiect lnformation l.Description of the Project and Type of Business 2. the estimated new capital investment for equipment and furniture; 3. percentage of physical assets purchased in Odessa; 4. list of new machinery, equipment and other ical assets. This project will be a lease agreement between Downing and a developer where Downing will serve as the lessee of a build to suit facility. Downing is looking to make a commitment as the lessee for 5 years initially with an option to extend. Currently, our Permian Basin operations are utilizing two facilities located in Midland, but we are working towards consolidating both locations under one roof. This will allow us to capitalize on synergies having all our people and equipment in one place and gain additional efficiencies from an optimized layout and space that comes with a build to suit facility. Downing is working with a developer to build a 65,000 sq. ft. facility with 10,OOO sq. ft. of office space and 55,000 sq ft. of shop space on 10 acres of land in the PHX Permian Park located just south oI 1-20 on the east side of Odessa. The new capital investment for equipment and furniture related to this project is estimated at $1,065,000. Downing and the developer are committed to supporting the local Odessa economy and will be purchasing from Odessa-based vendors as much as possible. Among the new machinery, equipment, and physical assets to be purchased are: o 10-ton bridge cranes - Qty 4 o S-ton jib cranes - Qty 6 o 2-ton jib cranes - Qty 2 . 1-ton jib crane o Pressure test booths- Qty 3 o Paint booth . Wash bay . Water recycling system J lll. Facility lnformation Current Property Values in Odessa BuildinE Equipment Facilities and equipment are currently located in Midland, TX Address and Legal Description of each Address Of Location location (New or Expansion) circle one The proposed location for this project is a lot 2106 North FM 1788 in the PHX Permian Park. Address is TBD pending further development. The current Midland, TX79707 proposed lot is just West of the Gameron 3918 South County Rd. 1276 facility located at 12313 1-20 Frontage, Odessa, TX 79766 Midland, TX 79706 Estimated New Capital lnvestment for Estimated Dates for Construction Buildinq Construction Start: Complete: $ 7.5 million 4t2022 10t2022 4 lV. Company lnformation Description of the Company Year Established Downing is a domestic oilfield solution provider specializing in pressure-control technologies. We manufacture wellhead systems and advanced frac equipment at our Oklahoma City- 1980 based manufacturing facility. We deliver application-specific solutions that enhance safety, drive efficiencies, and lower costs. We are a wholly owned subsidiary of SEF Energy and have operated for almost 40 vears. NAICS Godel NAICS Code Description Oil and gas field machinery and equipment manufacturing 333132 Notes 1. NAICS Gode: North American lndustrial Classification Code. The NAICS manual is available for use at the Chamber. 2, Annual Sales in Odessa: Estimated sales to Odessa customers. lf the company has no Odessa customers, enter "none." 5  County Appraisal District I 301 E 8th Street Odessa, Texas 797 61 -4703 Phone:432 -3 3 2-6834 Fax:432-332-1726 l*ast Updat*-Appraisal Tnfo: April 4. 20?! l-ast l.lpdate*Unpaid Tax Amountsi AFril X, 202t Acr*urrl Nurnhm : 7;fi*,:"* 14J{"r.{}tiil*il L't:'.1 :!-t\ tt")v\ti\/\.'t t\t::iflraat't j ltt,ul . IJ r.l!-iti!r1: : '."t.t"' : iiyln*n- llil:;l i-:-i.ii. iiii-.; i;r. I( !r*i' rrllrlI: t,-,t*1 I lll ..r...' ::::li::l:1' l1 , :: l, LITTLE MC]ACK PROPERTIES LLC ORIGINAL TO\,VN 580O COLORADO AVE BLOCK 27 oDESSA, TX 79762-9411 S22OFLOT6 fri,t*-i-r:-r.x;ti*;: 411 N GRANTAVE 0.0747 .:il.i.1].1.: |::1":::a .ll.Il:l::.1 lr.l:r r.. ):r..l' 'r..:l 1.000000 l)liij,r I "t.".':,i;, 1r,,-l ki_i,,,it.j,t, Name Year Date vol / Pg Inst. # Exemptions LITTLE MC]ACK PROPERTIES LLC 2A22 2/14/2022 2022-0000 30 10 None COLLINS GENE O 2021 3/13,t200r 7577 009 None $f.IQltli l:,1 llrti-fl.try,'lljtl,! .. Description Year SQFT O42M - OFFICE 1948 1980 .*,fi*-rrry;Y.j#rllfl. 2022 2021 2020 2019 2018 TOTAL I MPROVEN4ENT VALUE $87,417 $80,942 $61,322 $6 I ,322 $58,403 LAND MARKET VALUE 9r0,s03 $10,s03 97,8s4 $7,8s4 $7,854 PRODUCTIVITY VALUE $0 $0 $0 $0 $0 TOTAL IVARKET VALUE $97,920 $97,445 $69,776 $69,176 $66,257 10% HOI4ESTEAD CAP LOSS $0 $0 $0 $0 $0 APPRAISED VALUE $97,970 $9t,445 $69, 1 76 $69, 1 76 $66,257 2022 202L 2020 2019 2018 Value Value Value value Value Tax Rate Tax Rate Tax Rate Tax Rate Tax Rate Iax Anrt Tax Amt Tax Amt Tax Amt Tax Amt o/o Change q/o q/o o/o Change o/o Chang€ Change Change CITY OF ODESSA 597,92t) $91,445 $69,176 $69, 1 76 E66,257 4.004771 a.004771 0.044771 0.004756 0.004766 $467.1i1 $4 36.28 $3 30.04 $r 29.69 s315.78 7.08% 32.190/a 0.1 0% 4.410/a NIA ECTOR COUNTY $9 7,92t1 $9 r ,445 s69,176 $69,1 76 966,257 0.0036r;0 0.003650 0.003 6 50 0.00 3650 0.003970 $357.4 t $3 3 3.77 s252.49 $252.49 $ 263.0.1 7.08% 32.79"k 0.i)0% -4.tl70k N/A ECTORCOUNTYiSD t97,921) $9 1,44 s $69,176 $69, 1 76 i66,2s7 0.01-17 79 0.01 1779 0.011779 0.01t779 0.o7?796 $1,153.40 $L,077 .13 s814.82 $8 14.82 $847.82 7.08o/o 32.19o/o 0.00% -3.89% N/A ECTOR CO HOSPITAL DIST s97,92t) $91,44s s69,1 76 $69,176 $66,257 0.0015{t0 0.00 1500 0.00 1 5 30 0.001 127 0.00 1 1 27 $ 146.8i3 $r37.77 s 103.76 $77.96 7.084/a 33.1 Cgb 4.41o/a N/A ODESSA COLLEGE $97,921) $91,445 $69,1 76 $69,176 s66,257 0.0020 L7 0.0020 1 7 0.00 1 890 0.00 1868 0.001997 9197.511 $ 1 84.44 $ 130.74 $129.22 c1 ?, 1) 7.08a/o 4L.07o/o 1.18% -2.344/o N/A TAX INCR RNVST ZONE.CH 311 $0 $0 SU $69,176 s0 0.0000r10 0.000000 0.00 00 c0 0.000000 0.000000 $0.00 $0.00 $0.0c $0.00 so.oo Oo/o Oa/o 090 0o/o N/A TOTAL CALCULATED TAX AMOUNT $2,372.37 $2,168.80 $ 1,63 1 .86 $r,604.19 si,633.63 Year TAX IsD oc cou Hos ODE ECUD GOL FMLR CED 2O2t $2,168.86 57,077.t5 $184.47 $333.77 5737.t7 5436.30 50.00 $0.00 $0.00 $0.00 Copyright O 2t)22 | *ll Bights Reserved Dr:velope* & l,laintaincd by LX \et Dev  ODESSA DEVELOPMENT CORPORATION BOARD MEETING AGENDA ITEM Meeting Date Contact Department Item Type 04/14/2022 Cindy Muncy City Manager’s Office Resolution? Y  N  CAPTION Discuss the annual ODC Budget Calendar. SUMMARY The ODC Board annually adopts a budget calendar to determine the schedule of activities that must be completed to create and develop their annual budget. These include requesting proposals from contractors and reviewing and approving the general development plan. Comments/Other Departments, Boards, Commissions or Agencies Supporting Documents Budget Calendar S:\LECH_SHARE\(A) Administrative\(A-5) Organization\A-5-77 Odessa Development Corporation ODC\ODC Agendas\ODC Agenda Item Form  ODESSA DEVELOPMENT CORPORATION Annual Budget Calendar Fiscal Year 2022-2023 April 14, 2022 ODC to discuss proposed FY 2022-2023 Budget Calendar ODC Meeting May 12, 2022 ODC to review and approve FY 2022-2023 Budget Calendar ODC Meeting May 13, 2022 Legal to send letter to contractors requesting proposals for FY 2022-2023 using the current General Development Plan as guide (to be returned NLT June 30): 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 Request for Proposals/Qualifications June 9, 2022 1) ODC to review and discuss proposed FY 2022-2023 Gen Dev Plan FORM ODC Meeting 2) ODC to review and discuss contract FORM for Contractors June 30, 2022 Responses due from all businesses requesting ODC funding July 1, 2022 Preparation of budget estimates for new fiscal year begins July 1, 2022 City staff to forward proposals to ODC Board July 8, 2022 City staff completes review of Budget Estimates and proposes recommendations to ODC July 14, 2022 1) ODC to review and discuss proposed FY 2022-2023 Gen Dev Plan ODC Meeting 2) ODC to review and discuss contractor proposals 3) ODC to review and discuss proposed FY 2022-2023 Budget All to be approved at August 11, 2022, ODC meeting August 11, 2022 1) ODC to approve proposed FY 2022-2023 Gen Dev Plan ODC Meeting 2) ODC to review and discuss contractor proposals 3) ODC to approve proposed FY 2022-2023 Budget 4) ODC to approve proposed contract FORM All to be forwarded to City Council Work Session for approval August 16, 2022 City Council Work Session to review and discuss proposed ODC FY 2022-2023 Work Session Gen Dev Plan, contractor proposals, Budget, and contract FORM August 23, 2022 City Council Meeting to approve proposed ODC FY 2022-2023 Gen Dev Plan, Council Meeting contractor proposals, Budget, and contract FORM August 24, 2022 Legal to send contracts to contractors to sign and return NLT 9/7/2022 September 8, 2022 ODC President to sign all contracts ODC Meeting September 14, 2022 Contracts submitted to by City Manager for execution October 1, 2022 New fiscal year begins January 18, 2023 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 2022-23 DRAFT 4.7.22