Odessa Development Corporation
Regular MeetingOdessa, TX · August 8, 2024
Minutes
ODESSA DEVELOPMENT CORPORATION MINUTES
CITY OF ODESSA, TEXAS
August 8, 2024
A regular meeting of the Odessa Development Corporation (ODC) was held on August
8, 2024, at 8:30 a.m. in the Council Chambers, 5th floor, City Hall, 411 W. 8th St. Odessa,
Texas.
Members present: David Boutin, Tim Harry, Larry Robinson, Jeff Russell, and James
Kirk
Members absent: Melanie Hollmann
Others present:
Dan Jones, City Attorney; Christina Buhnerkempe, Legal Assistant; John
Beckmeyer, City Manager; Gilbert Vasquez, City Council; Steve Thompson, City
Council; Matt McGee, Finance Controller; Christi Callicoatte and Britney Mann,
Current Media Partners; James Beauchamp, MOTRAN; Renee Earls, Odessa
Chamber of Commerce; Tom Manskey, Office of Economic Development; Kathi
Vaughn, Office of Economic Development; Lindsey Simpkins, Office of Economic
Development; Chris Walker, Black Chamber of Commerce; and
Others: and other interested citizens
A quorum being present, Mr. Russell called the meeting to order, and the following
proceedings were held:
Mr. Boutin gave the invocation. The Pledge of Allegiance and Texas Pledge were
recited.
Minutes of July 11, 2024, Mr. Boutin found a mistake on page 1 of the July 11th
minutes. Where it says, “not a slate of 11 or 12”, should be “not out of 11 or 12
applicants”. Also, on page 3, first paragraph, there is a typo Municipal Sexcurities should
be Municipal Securities. Motion was made by Mr. Boutin and seconded by Dr. Kirk to
approve the minutes as amended. The motion was approved by unanimous vote.
Minutes of July 25, 2024, Special Meeting. Motion was made by Mr. Boutin and
seconded by Dr. Kirk to approve the minutes of the July 25, 2024, special meeting. The
motion was approved by unanimous vote.
Contractors’ reports: Economic Development Department, Current Media
Partners, Black Chamber of Commerce, UTPB-America’s SBDC, MOTRAN, and
City Administrative support: financials.
Mr. Manskey had to step out of the board meeting to take a call. Mr. Russell stated a
motion was needed to suspend the rules. Motion was made by Mr. Boutin and seconded
by Dr. Kirk to suspend the rules. The motion was approved by unanimous vote.
ODC Minutes
August 8, 2024
Page 2
Mrs. Callicoate and Mrs. Mann reviewed the monthly report and the Target Industry
Analysis. Basically, in the month of July their budget was increased back to the normal
level they started with. They had reduced the budget for several months waiting for the
results of the Target Industry survey results. Paid views nearly doubled because of the
new campaign. With the digital campaigns, there was growth in every campaign with a
call out to the new manufacturing. They refreshed some of the creative. Everything
outperformed the month before. Current Media continues to report lead forensics with
high visitation from the leads they think are viable to the staff with the names of
companies. They started Workforce Wednesday’s, mid-July, this is a special section for
social, they will continue to update. Workforce Wednesday’s is tips and things to
continue the workforce effort. Ms. Callicoatte gave an overview of the Target Industry
Analysis. Golden Shovel worked extensively on the Target Industry Analysis. They were
very impressive. A committee of six people worked on the analysis. The survey was
distributed to businesses and community leaders, hospitals, the school district, and
higher education. The survey was distributed to different types of businesses, and they
conducted one on one interviews. The overall report is 105 pages. The survey was
emailed to the board in June. They researched the assets and the current eco system.
They also researched state programs. Things that Odessa would align with incentives
that are available through the state that would support the industries they recommended.
They identified the target industries that they felt like Odessa could benefit the most from
and the ones that can sustain growth. They compared Odessa to other communities like
San Angelo, Abilene, Lubbock, Amarillo and Las Cruces, NM. The reason they
compared Odessa to Las Cruces was because some of the NAICS codes / industry
matched ours. General Construction, we were way under other communities. We have
the workforce doing the jobs, but they are not doing jobs at the companies in Odessa in
some instances. We lead in manufacturing but could be leading by more. Professional
Services were underserved. It is hard to market in a broad way, they will look at other
ways to market Professional Services. A lot of the responses were the “grow your own”.
Mr. Russell suggested following up with Odessa College and UTPB to see in these
areas how many kids are graduating and how many are staying in the area. Why are
they leaving and look at what can be done to keep them local. Mr. Boutin asked if the
UTPB Gap Analysis that ODC and MDC are funding will enhance workforce issues.
Based on the data and the survey findings, and interviews, Golden Shovel recommends
that the ODC target the following industries. These recommendations build up the
mindset of, “Make it and deploy it here”: Renewable Energy Manufacturing, Renewable
Energy, Manufacturing, Professional Services and Construction. A lot of
interviewees/companies liked the fact that we are more isolated and like our spirit. We
have a strong medical system and transportation is an asset, particularly with an
International Airport. Quality of life came up quite a bit. Regarding renewable energy and
renewable energy manufacturing, so far, they are just focusing on manufacturing.
Manufacturing campaigns have far exceeded expectations. Texas is leading in
renewable manufacturing and renewable energy. Wages are higher for renewable
manufacturing. One item that came up in the survey was 3D manufacturing. Mrs.
Callicoatte stated they will approach 3D manufacturing after they research/understand it
a little more. Mrs. Callicoatte stated that even though Medical was not on the targeted
list they will still look at medical manufacturing. They will pay attention to some of the
infrastructure things ODC is already doing and do more public relations on those things.
At present Current Media is focusing on manufacturing and renewable energy
manufacturing. The goal was to identify key industry sectors and drill into key
businesses to go after. They are writing new content to go on the website. As things
happen, they are being shared on social media. Mr. Russell wanted to follow up on
ODC Minutes
August 8, 2024
Page 3
signage for projects. Mrs. Callicoatte stated they have two sizes designed but right now
they have been doing banners.
Mr. Manskey discussed activity. Project Oasis will be in town meeting with taxing
entities. Project Texas Clean Energy is moving forward. They have met with a company
in Midland to help move the project forward. Should hear something soon with regards to
a groundbreaking for Project Molecule. Working with Current Media on a couple of press
releases but waiting on approval by City Council to release. Mr. Manskey stated the
Activity Report Mr. Harry has requested is being proofed and will be emailed out to the
board within the next day or so. Mr. Manskey reported on Nacero. A letter did go out
from the attorney to Nacero certified mail. The certified letter was returned unread and
unsigned for. A letter was sent standard mail and was not returned. Mr. Manskey stated
that he would reach out to Hal Bouknight with Nacero to see if he could find out what is
going on. There was a request for the return of the funds received, no response. Mr.
Manskey discussed the Target Industry report regarding Construction. Odessa College
has a Construction Management Program that is new. A meeting will be scheduled to sit
down with leadership at Odessa College and discuss what companies to target and
concerns they may have. Mr. Manskey stated he has reached out to a company
regarding transformer shortage. There is an 18-month delay in the supply chain for
transformers, will look into and address. Social Media followers jumped up a little. BRE
visits were slow he believes due to summer months.
Mr. Walker presented the Black Chamber of Commerce report. The Black Chamber
website and Facebook page have been revamped. A remarkable 17% increase in
Facebook activity due to social media posts and regular updates regarding upcoming
events on the BCCPB calendar. They hosted 7 counseling sessions with a range of
topics including building assistance, financial planning, exploring new membership
opportunities, success strategies, and event planning. Over 150 food boxes were
handed out to families in need, partnered with a community group to supply meals to
more than 60 children enrolled in a summer program, and hosted the BCCPB’s first ever
Charitable Fund Bowling Tournament. The bowling event was dedicated to raising funds
for scholarships to assist graduating seniors as they pursue higher education. The
BCCPB is currently in the planning stages for the 34th Annual Ebony Bar Awards
Banquet, a highlight of the Black Chamber’s 40th Anniversary Celebration. The Annual
Ebony Bar Award event is scheduled for October 5th.
Mr. Beauchamp provided a list of ODC – Transportation Projects - Local Leveraging
Project Report July 2022 and FY 2023-2032 UTP & TIP Funded Projects Amendment
No. 3. Map. The Local Leveraging Projects have had remarkable results but is very
complicated. Mr. Beauchamp stated that the reason it is complicated is any project in
Midland and Odessa must go through the MPO. Mr. Beauchamp explained the process.
The focus of Odessa is on the area of the loop. Currently, there is $3.5 million of the
original $15 million that is not authorized. One of the primary benefits of leveraging is the
ability to expedite projects, and MOTRAN would like to facilitate moving forward with
discussions between the City of Odessa, ODC, and TXDOT, to try to maximize the
benefit of the remaining funds, as well as, moving additional projects forward. Mr.
Beauchamp’s recommendation for the $3.5 million is building the 87th Street overpass
and then installing the frontage road all the way up from Yukon to 385. There will have to
be $18 million put into that so it will have to come from the commission, and they realize
that. This helps bump the project up faster. The other important part of this is once you
install the frontage roads the other two issues will be overpasses at 100th Street and
Grandview. You can’t build the overpasses until you have the access roads because you
ODC Minutes
August 8, 2024
Page 4
must divert the traffic to the access roads. That gives you a fully functional freeway
designed loop around Odessa on Loop 338. Mr. Beauchamp stated that looking at other
projects he suggested roughly an $8-10 million allocation over the next 20 years. Mr.
Beauchamp provided a list with a map of Executed/Funded Projects;
Executed/Unfunded Projects; Authorized Projects and Suggested Projects. Essentially
putting $5 million on each side of Loop 338. From an economic development standpoint
traffic counts on the western portion of the loop are 25-32% truck traffic. It is an industrial
route to divert truck traffic from the downtown area. Traffic counts are down from 5 years
ago. Also, when you add access roads you are adding a lot of property for development.
Mr. Beauchamp stated that the east side of Loop 338 is mostly residential. The commute
time has increased to over 10-15 minutes and in a couple of years commute time will be
up to 20 minutes. Mr. Russell asked if longer commute times were due to truck traffic or
is it just lack available roads? Mr. Beauchamp stated that it just depends on where you
look. Truck traffic is approximately 14% on the east loop. The loop is more about getting
to that freeway design, free flow of traffic, higher rates of speed and less conflict points
to move people or freight.
Mr. McGee, Finance Controller, discussed financials. Ms. Banda was not able to get to
any financial reports due to a family emergency. She will provide reports for July and
August at the next ODC Board meeting.
ODC Committee and Officer reports: Partnership, Tax Incentive, Advertising, DOI
Grants Design Review Board, and Compliance.
Mr. Boutin stated the Tax Incentive Committee will meet on August 16th Michael Forrest,
Mr. Boutin, and legal to look at revising the process and intent of the Tax Incentive
process.
Mr. Russell stated nothing to add to advertising. He thanked Current Media for their
good work and staying on top of things.
Citizens’ Comments on non-agenda items. No comments.
Discuss and consider authorizing ODC to enter into an Economic Development
Agreement with Rental King LLC for the development of a new location in Odessa
(Resolution). Mr. Manskey stated this project has been before the ODC Board before.
The project requested a specific amount of $210,000, it came before the ODC Board
after being approved by the ODC Compliance Committee. The ODC Board then
approved the request. At some point during the process the project was made aware
they qualified for more money than they requested, and then their bank wanted more
money than initially requested for the SBA Loan. The amount was then requested to
increase to $636,000 which is just slightly under what they qualified for at the maximum
level. Rental King came back with a new application, the Compliance Committee
reviewed and made a recommendation to approve the new amount to the ODC Board.
The ODC Board decided to stay with the first dollar amount approved because nothing
had changed outside of the ask. The project then went before city council for discussion,
there had been some outreach with regards to the project and why it would be beneficial
to support the project at the higher level but because the number was already approved,
they could not raise the amount. The City Council kicked the project back to ODC for
further discussion. The application is in the ODC packet minus the payroll and specific
job information. They will be closing the Midland facility after building a new facility in
Odessa. The location is across the interstate from the Family Dollar Distribution Center.
ODC Minutes
August 8, 2024
Page 5
The project is in the city of Odessa. Mr. Russell wanted to know where the $636,000
amount comes from. He was concerned about the Matrix numbers and where the
numbers come from and the reporting that comes to the ODC Board. Mr. Manskey
stated it is an exhibit to the Development Plan. Mr. Boutin discussed why the Matrix was
developed. Most of the grant applications are complex. He stated that the compliance
committee is skilled and evaluates the application and matrix. It is basically a trade
secret for the city and ODC, we do not want to give up the competitive advantage to
other communities. Mr. Boutin stated he thinks ODC must be careful regarding are ODC
funds necessary to make the project work. ODC does not want to do that. ODC wants to
make sure the funds are strictly incentives for the expansion or relocation here. If the
funds are critical to making the project work, it is too risky. Mr. Russell stated he felt
comfortable with the $210,000, he does not know how this got to $636,000. The other
concert Mr. Russell had was how many of those transfer jobs are really moving to
Odessa. Mr. Manskey stated he asked and was told Mr. Vore stated the employees will
move to Odessa within the next two years. Mr. Robinson voiced concerns of the address
on the ODC Application being in Midland. Mr. Manskey stated that Midland is the
address of the current location because they did not have a physical address for the new
location in Odessa, Ector County. Mr. Manskey stated the application does show the
address of East I20 and JBS Parkway would be targeted for purchase and build.
After much discussion, a motion was made by Dr. Kirk with a second by Mr. Harry to
approve the $636,000 grant request. Motion carried by a vote of 4 to 1.
Discuss and consider amendment/revision to EDA with Walkamin Trading
Company. Mr. Russell stated there are some changes to some dates. They moved the
commence construction date out to October 1, 2024, at the request of Mr. Bell. The date
was originally July 1, 2024. The amount was adjusted from $8.5 million to $6.5 million.
Mr. Bell has all the bids in, and it came out under what was budgeted. Exhibit B was
pulled from the agreement. Nothing has changed in the specifications. Mr. Robinson
pointed out that on Page 2 of 18 of the redlined copy in the second paragraph, “as
further described in Exhibit B of this Agreement” needs to be redlined and needs to be
removed from the agreement. Mr. Boutin stated that legal should clarify the first two
“WHEREAS” paragraphs on page 2 of 18.
A motion was made by Mr. Boutin with a second by Dr. Kirk. to approve the revisions to
the Walkamin Trading Company Agreement with provisions that legal cleanup the two
paragraphs in question. Make sure we are not referring to Exhibit B. The motion was
approved by unanimous vote.
Discuss and consider FY 2024-2025 contractor agreements. Mr. Russell stated the
contracts were discussed in the ODC Budget Workshop. Mr. Manskey stated that he has
received information from Whitley Penn that they have not been approached regarding
their FY 2024-2025 services to the ODC Board. Essentially, they sent an email to Mr.
Manskey and Attorney, Jeff Moore and the only thing that changes in the contract is the
dates and the pricing per compliance audit per project. There is an increase from $6,500
to $7,800. Mr. Manskey provided the packet with the exhibit showing the service
agreement for pricing last year and just before that exhibit it shows the new exhibit lining
out Whitley Penn’s new pricing. Mr. Russell stated that in discussions with Whitley Penn,
they have been discussing how to cut the cost and the length of time it takes to get back
to the grant recipient. Discussions are ongoing regarding how they can streamline the
process. Also, discussed they the way Whitley Penn submits their bills to receive
ODC Minutes
August 8, 2024
Page 6
payment in a timely fashion. The adjustment in the budget is the audit reports are
increasing from $6,500 per compliance report to $7,800.
A motion was made by Dr. Kirk and seconded by Mr. Harry to approve the purposed
budgets. The motion was approved by unanimous vote.
Remove from the table to discuss and consider FY 2024-2025 General
Development Plan. Motion was made by Mr. Harry and seconded by Dr. Kirk to remove
the item from the table. The motion was approved by unanimous vote.
Mr. McGee discussed the budget and the adjustments that Ms. Banda made to the FY
2024-2025 Proposed Revenues and Expenditures Budget Summary. Some of the big
changes Ms. Banda made were the breakdowns of the Business Incentives the Capital
Infrastructure Grants and the Downtown Infrastructure Grants. These were normally
grouped into one line item, but Ms. Banda wanted to break it down to give a better visual
of what is going on and make it clearer. Mr. McGee to discuss the way Business
Incentives were budgeted. Ms. Banda broke out Business Incentives with two options for
ODC board to review. Business incentives are typically budgeted at projected
maximums. Based on current and active performance agreements, ODC could pay out
up to $3.216 million (not including ICA and Walkamin as infrastructure projects) in grant
payments in the coming fiscal year, leaving $21,784,267 available for new incentives.
However, it is common practice for ODC to budget for the whole incentive amount in the
annual budget. The second part is the Capital Infrastructure with the same concept. Mr.
Russell stated he found the information very helpful. Mr. Boutin stated that he would like
to see the Capital Infrastructure Grants bumped up to $30 million which will change the
Business Incentives to $20 million. If something comes up the budget can be amended.
A motion was made by Mr. Boutin with a second by Dr. Kirk to approve the General
Development Plan. The motion was approved by unanimous vote.
Discuss and consider FY 2024-2025 ODC Budget. Mr. Russell stated agenda items 9
and 10 were discussed and considered with the above discussion.
A motion was made by Mr. Boutin with a second by Dr. Kirk to approve the FY 2024-
2025 ODC Budget with the change to the Capital Infrastructure Grants to $30 million and
the Business Incentives to $20 million. The motion was approved by unanimous vote.
Closed Session the board may recess into Executive Session in compliance with
section 551.001 et. Seq. Texas Government Code in accordance with:
a. Section 551.071. Consultation with Attorney
Letter of engagement with legal counsel.
b. Section 551.072. Deliberation regarding real property: the purchase,
exchange, lease or value of real property,
c. Section 551.087. Deliberation regarding Economic Development
negotiations.
Project Logical Location
ODC Minutes
August 8, 2024
Page 7
A motion was made by Mr. Harry with a second by Dr. Kirk to recess into Executive
Session. The motion was approved by unanimous vote. Recessed into Executive
Session at 10:27 a.m.
Reconvene into Regular Session and take any necessary action as a result of the
closed session. A motion was made by Mr. Harry with a second by Mr. Boutin to
reconvene into regular session at 11:27 a.m. The motion was approved by unanimous
vote.
Mr. Russell stated no action was taken on Letter of Engagement with legal counsel and
no action was taken on Project Logical Location. Mr. Russell requested the Letter of
Engagement received from the attorney; Jeff Moore be delivered to the city attorney’s
office. Mr. Russell gave a copy to Ms. Vaughn.
Citizens comments on non-agenda items. No comment.
Upcoming dates for future ODC Board meetings. Mr. Russell stated the next ODC
Board meeting is tentatively scheduled for Thursday, September 12, 2024, at 2:00 p.m.
Motion was made by Dr. Kirk and seconded by Mr. Harry to adjourn the meeting. The
motion was approved by unanimous vote. The meeting was adjourned at 11:29 a.m.
PREPARED BY: APPROVED:
Kathi Vaughn James Kirk
Economic Development Specialist President
ATTEST:
Norma Aguilar, TRMC, CMC
City Secretary
Agenda
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, August 8, 2024 at 8:30 a.m. in the Council Chambers,
fifth floor, City Hall, 411 W. 8 th St., Odessa, Texas for the following purpose:
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 August, 2024 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, TRMC, CMC
City Secretary
ODC Meeting Agenda
August 8, 2024
8:30 a.m.
Odessa City Hall, 5th Floor Council Chambers
1. Call to Order
2. Invocation and Pledge of Allegiance
3. Consider Minutes of July 11, 2024, meeting and July 25, 2024, special meeting.
4. Contractors’ reports:
A. Economic Development Department ............................................... Tom Manskey
B. Current Media Partners ............................................................... Christi Callicoatte
C. Black Chamber of Commerce ............................................................. Board Packet
D. UTPB-America’s SBDC .......................................................................... Tyler Patton
E. MOTRAN .................................................................................... James Beauchamp
F. City Administrative Support: Financial................................................ Kaylie Banda
5. ODC Committee and Officer reports:
A. Partnership............................................................................................ Jeff Russell
B. Tax Incentive ........................................................David Boutin, Melanie Hollmann
C. Advertising .......................................................................... James Kirk, Jeff Russell
D. DOI Grants Design Review Board..................... Larry Robinson, Melanie Hollmann
E. Compliance ...................................................... Melanie Hollmann, Larry Robinson
Any member of the public may address the ODC Board regarding any of its agenda items before or during the
consideration of the item.
6. Discuss and consider authorizing ODC to enter into an Economic Development Agreement with Rental King LLC
for the development of a new location in Odessa (Resolution)…………………………….…………Compliance Committee
7. Discuss and consider amendment/revision to EDA with Walkamin Trading Company…….………..ODC Board
8. Discuss and consider FY 2024-2025 contractor agreements……………………………………………………. ODC Board
9. Remove from the table to discuss and consider FY 2024-2025 General Development Plan……... ODC Board
10. Discuss and consider FY 2024-2025 ODC Budget……………………………………………………………………... ODC Board
Closed Session
11. The Board may recess into Executive Session in compliance with Section 551.001 et. seq. Texas Government
Code in accordance with:
a. Section 551.071. Consultation with Attorney.
Letter of engagement with legal counsel.
b. Section 551.072. Deliberation regarding real property: the purchase, exchange, lease or value of
real property.
c. Section 551.087. Deliberation regarding Economic Development negotiations.
Project Logical Location
12. Reconvene into Regular Session and take any necessary action as a result of the closed session.
13. Citizens comments on non-agenda items
14. Upcoming dates for future ODC Board meetings ............................................... Jeff Russell
A. Next ODC Board Meeting is scheduled for Thursday, September 12, 2024, at 8:30 am in the City Hall
Council Chambers on 5th floor.
ODC Meeting Agenda cont.
15. Adjourn ............................................................................................................... Jeff Russell
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
July 11, 2024
A regular meeting of the Odessa Development Corporation (ODC) was held on July 11,
2024, at 8:35 a.m. in the Council Chambers, 5th floor, City Hall, 411 W. 8th St. Odessa,
Texas.
Members present: David Boutin, Kris Crow, Tim Harry, Larry Robinson, James Kirk, and
Jeff Russell.
Members absent: Melanie Hollmann
Others present:
Dan Jones, City Attorney; Christina Buhnerkempe, Legal Assistant; John
Beckmeyer, City Manager; Kaylie Banda, Director of Finance; Renee Earls,
Odessa Chamber of Commerce; Tom Manskey, Office of Economic
Development; Kathi Vaughn, Office of Economic Development; Lindsey
Simpkins, Office of Economic Development; Chris Walker, Black Chamber of
Commerce; and
Others: and other interested citizens
A quorum being present, Mr. Russell called the meeting to order, and the following
proceedings were held:
Mr. Harry gave the invocation. The Pledge of Allegiance and Texas Pledge were recited.
Minutes of June 13, 2024, Mr. Boutin noted a change on page 3 of the minutes, the
word redact should be changed to delete and on page 4, it says Orrex Plastics Company
LLC qualifies for $2.2 million, it should state $2.1 million. Mr. Russell stated that it be
clarified and added under the ODC Compliance Committee appointments that “Mr. Harry
stated he would not withdraw his motion to appoint as the previous meeting the ODC
Board had approved the motion by Mr. Boutin to approve a slate of reappointments of
the Compliance Committee.´ Mr. Boutin stated to add his explanation that they don’t
match up because they only had four reappointments not a slate of 11 or 12. Motion was
made by Mr. Boutin and seconded by Dr. Kirk to approve the minutes as amended. The
motion was approved by unanimous vote.
Contractors’ reports: Economic Development Department, Current Media
Partners, Black Chamber of Commerce, UTPB-America’s SBDC, MOTRAN, and
City Administrative support: financials. Mr. Manskey reviewed the economic
development activity report. Project Oasis went before the County Commissioners Court
Tuesday, July 9th on the reinvestment zone vote. There will be a posting on the
reinvestment zone and will go for a final vote at the first County Commissioners Court
meeting in August. Project Oasis is a $200 million project ancillary to the 1PointFive
project. They will get their own raw water and treat it. They will employee 25-30 FTE’s.
ODC Minutes
July 11, 2024
Page 2
The average salary for those employees will be $150,000. The current DAC for
1PointFive is over 90% complete and should be up and going in 2025. Project Molecule
is another ancillary to 1PointFive and is an $80 million gas separation project. Project
Molecule is Matheson Gas. Project Oasis and Project Molecule are projects 1PointFive
had planned to do internally, part of their $810 million dollar proposal, however the
project cost kept climbing so now they have reached out and have partners to help. Mr.
Harry wanted to know if the ancillary projects are part of the $810 million 1PointFive
investment? Mr. Manskey stated yes. Mr. Russell wanted to know how long before
property tax revenues are seen out of these projects? Mr. Manskey responded that most
of the abatement agreements are ten years. Mr. Manskey stated he has been working
on the budget and will have a project list for the board at the next ODC meeting. Mr.
Manskey is working on Project Cohort and handed out a draft agenda. This is for an
event for a workforce project that will be called “Knowledge Without Borders”. This is to
work with employers and citizens on proper pipelines to legally work. Working with
LULAC, Odessa College, and PB Workforce Solutions to develop an Immigration
Resource Center. The Governor’s Small Business Summit will be August 22nd.
Additional event information will be provided at a later date. Mr. Russell wanted to know
if there has been a response from Nacero in regard to refunding the grant money. Mr.
Manskey stated that attorney Jeff Moore has sent a letter to Nacero. Mr. Russell
requested a copy of the letter be emailed to the ODC Board.
Mr. Walker presented the Black Chamber of Commerce report. The Black Chamber saw
an increase of 3% in Instagram followers and 10% in Facebook activity. The boost was
amplified by the promotion of the Juneteenth celebration, the Charitable Fund bowling
tournament, and the First Friday event. The bowling tournament is to raise money for
graduating seniors. The Woodson Boys & Girls club will have a ribbon cutting and grand
opening on July 17th. Ten scholarships will be awarded to students through the Black
Chamber of Commerce. The chamber partnered with the SBDC to help sponsor the
“Marketing Plan” workshop.
Ms. Banda reviewed the ODC May 2024 Financials. Local Government Pool balance is
$70,445,937; CDs and CDARs $4,412,044; Municipal Securities $2,989,590, and Money
Market $9,783,877. Total Assets $90,005,053. No changes in Fund Balance short term
or long term reserved. There is still $7,000,000 in TXDOT assigned funds available,
$11.5 million has been expended with $7 million left. Ms. Banda will identify which
projects the $11.5 million expended are for. 4-A Sales Tax receipts for May totaled
$1,314,716 and YTD $9,538,293 which is above budget. Total Revenues for the month
totaled $1,710,805. Total Expenditures for May was $219,262. Ms. Banda reported no
changes in the Reserve Fund Balance, no payments were issued. Mr. Russell asked
when Nacero will be removed from the Reserved Fund Balance. Ms. Banda stated she
is waiting on documentation that Nacero has been officially cancelled. Once she
receives the documentation from the ODC attorney the $16,008,400 will adjust
accordingly. Mr. Boutin had a question on the Expenditures regarding Insurance. Ms.
Banda will investigate the Insurance item for clarification. Ms. Banda reviewed the
Investment Summary pointing out the Changes in Fair Value and Interest for the CDs.
The $16,496 collected in the month of May is $5,000 higher than what was reported in
April because of the CD that matured at First Bank and Trust. It was renewed for 8
months at 5.22%, it was at little over 2%. Ms. Banda reviewed the Investments. The
Beginning of the Month Local Government Pools were $70,944,900 and ended at
$72,583,893. Money Market Investments $9,783.877 paying at 5.22%. Mr. Crow asked if
there were any thoughts of moving part of the Money Market funds into TexPool
accounts. Ms. Banda stated she will look into moving money but would like to check
ODC Minutes
July 11, 2024
Page 3
historical balances first. Mr. Crow suggested moving $5,000,000. Ms. Banda stated that
next month they can look at options to purchase Municipal Sexurities. Sales Tax figures
for the month of June, $1,198,870.92 received.
ODC Committee and Officer reports: Partnership, Tax Incentive, Advertising, DOI
Grants Design Review Board, and Compliance.
Mr. Russell gave the Advertising report. Current Media has a good solid plan moving
forward rolling out the new Only Odessa brand. ODC is getting some good editorial
content/articles, placing ads in various places. Current Media will go over the Target
Industry Survey in detail at the August 1st Budget meeting. The Target Industry Survey
will help identify key areas to focus on.
Mr. Robinson reported nothing is going on with the DOI Grants Design Review Board.
He did receive positive feedback on the July 4th event from vendors who attended.
Mr. Manskey reported a New Member Orientation was held for the newly appointed
ODC Compliance Committee members. Three out of four of the new members were in
attendance.
Citizens’ Comments on non-agenda items. No comments.
Discuss and consider authorizing ODC to enter into an Economic Development
Agreement with Rental King LLC for the development of a new location in Odessa
(Resolution). Mr. Manskey stated the ODC Board did approve a grant of $210,000 last
month. Rental King LLC is proposing a new location in Odessa. They have already
bought property across the interstate from the Family Dollar Distribution Center. They
had requested the specific amount of $210,000 to help with an SBA loan. Chris Vore
was made aware that they qualified for more grant money. They have changed the grant
request in their application to $636,000, that is $900 less than what they qualified for.
The Compliance Committee reviewed and approved the application. Mr. Crow asked if
there was an increase in FTEs or an increase in capital investment. Mr. Manskey stated
Mr. Vore made him aware that they did not utilize their personal purchases for
equipment. The increase is based on what the matrix showed he qualified for the first
time. Mr. Russell stated he was concerned about having a deal in place. Rental King
was happy, and nothing has changed as far as the project goes. Mr. Crow stated ODC is
not in the business of just giving away money and ODC is not a philanthropic
organization. Mr. Crow stated that he did not care for the new agreement and stated he
was for sticking with the original agreement. Mr. Harry wanted to know the proper
procedures for counseling prospects, did we fail in that? Mr. Manskey stated the
prospect is counselled on the application and the process. Mr. Manskey stated he asked
Mr. Vore what the $210,000 request represented, and he stated they had applied for an
SBA Loan. The second request came about because he was made aware that the
matrix showed a higher dollar level he could have qualified for. Mr. Boutin recommended
revisiting with the Compliance Committee that the matrix information is kept confidential.
Mr. Harry stated when he was serving on the ODC Compliance Committee he was made
aware of the confidentiality of information. Mr. Boutin stated it could be that the grantee
in the open ODC meeting was made aware they qualified for more money when the
report was being presented. Mr. Russell stated he prefers that in the open session ODC
meeting to not state they qualify for more grant money.
ODC Minutes
July 11, 2024
Page 4
After much discussion, a motion was made by Mr. Russell with a second by Mr.
Robinson to decline the additional grant request from Rental King LLC. The motion was
approved by unanimous vote. Mr. Boutin wanted to convey to Rental King LLC the
reason it was declined was because nothing changed in the application.
Resolution No. ODC-2024R-13 – Discuss and consider Compliance Monitoring
Report for Select Energy Services, LLC (Resolution) Mr. Manskey stated that the
Compliance Committee reviewed and found Select Energy to be in compliance with
regard to number of jobs, but out of compliance with regard to payroll for the 2022
reporting period and is recommending a seventy-five percent (75%) payment in the
amount of $13,780.65. Select has previously been paid $69,821.92 under the
Agreement. The payment of $13,780.65 will bring the total paid under the Agreement to
$83,602.61.
A motion was made by Dr. Kirk with a second by Mr. Russell to approve a seventy-five
percent (75%) payment in the amount of $13,780.65. The motion was approved by
unanimous vote.
Closed Session the board may recess into Executive Session in compliance with
section 551.001 et. Seq. Texas Government Code in accordance with:
a. Section 551.071. Consultation with Attorney
b. Section 551.072. Deliberation regarding real property: the purchase,
exchange, lease or value of real property,
c. Section 551.087. Deliberation regarding Economic Development
negotiations.
No action.
Reconvene into Regular Session and take any necessary action as a result of the
closed session. No action.
Citizens comments on non-agenda items. No comment.
Upcoming dates for future ODC Board meetings. Mr. Crow stated the next ODC
Board meeting is tentatively scheduled for Thursday, August 8, 2024 at 8:30 a.m.
A Special ODC Meeting is tentatively scheduled for Thursday, August 1, 2024 at 8:30
a.m. to review / discuss proposed 2024-2025 General Development Plan, Contractor
Proposal’s and Budget. Prepare to meet most of the morning.
Motion was made by Dr. Kirk and seconded by Mr. Russell to adjourn the meeting. The
motion was approved by unanimous vote. The meeting was adjourned at 9:53 a.m.
ODC Minutes
July 11, 2024
Page 5
PREPARED BY: APPROVED:
Kathi Vaughn
Economic Development Specialist President
ATTEST:
Norma Aguilar, TRMC, CMC
City Secretary
ODESSA DEVELOPMENT CORPORATION MINUTES
CITY OF ODESSA, TEXAS
July 25, 2024
A special meeting of the Odessa Development Corporation (ODC) was held on July 25,
2024 at 5:01 p.m. in the Council Chambers, 5th floor, City Hall, 411 W. 8th St. Odessa,
Texas.
Members present: David Boutin, Tim Harry. Melanie Hollmann, Larry Robinson, and
James Kirk.
Not Present: Jeff Russell
Others present:
Dan Jones, City Attorney; Kaylie Banda, Director of Finance; John Beckmeyer,
City Manager; Gilbert Vasquez, City Council; Kathi Vaughn, Office of Economic
Development; and Tracy Jones, Office of Economic Development
A quorum being present, Dr. Kirk called the meeting to order, and the following
proceedings were held:
Mr. Harry gave the invocation. The Pledge of Allegiance and Texas Pledge were recited.
Resolution No. ODC-2024R-14 - Discuss and consider Compliance Monitoring
Report for UTPB (Resolution) Mrs. Jones discussed the compliance monitoring report
for the University of Texas of the Permian Basin. Based on the procedures performed,
the Grantee met the $700,000 minimum annual requirement of expenditures related to
their Workforce Initiative Training and Advanced Manufacturing Center and the
Innovation Center/Incubator/Makerspace for the final year of their three (3) year
agreement. The student completion requirement for Fall 2022 was1,100 students they
had 1,090, Spring 2023 - 1,000 students they had 970, and Summer 2023 - 300
students they had 380. They were short 10 students in the Fall 2022 and 29 in the
Spring for 2023 but were over 80 in the Summer of 2023. The Compliance Committee’s
recommendation was to approve the final payment of $700,000.
Motion was made by Mr. Boutin and seconded by Ms. Hollmann to approve the third and
final payment of $700,000. The motion was approved by unanimous vote.
Citizens comments on non-agenda items. No comments.
Upcoming dates for future ODC Board meetings. The next ODC meeting is
scheduled for August 8, 2024, at 8:30 a.m. in the City Hall Council Chamber on the 5th
floor.
ODC Minutes
July 25, 2024
Page 2
A special meeting to review and discuss proposed FY 2024-2025 General Development
Plan, Contractor Proposals and FY 2024-2025 Budget is scheduled for August 1, 2024,
at 8:30 am. In the City Hall Council Chamber on the 5th floor.
Motion was made by Mr. Harry and seconded by Ms. Hollmann to adjourn the meeting.
The motion was approved by unanimous vote. The meeting was adjourned at 5:05 p.m.
PREPARED BY: APPROVED:
Kathi Vaughn, Economic Development
Specialist President
ATTEST:
Norma Aguilar-Grimaldo, TRMC, CMC
City Secretary
Odessa Chamber of Commerce Economic Development
Services for the Odessa Development Corporation - July 2024
“The Hot List” Projects with recent activity
Project Oasis 4.13.24
• Project recruited through Site Consultant relationship
• $200 million capital investment
• 25-30 new FTEs
• Average annual salary $150,000
• Will provide support to 1PointFive
• Consultant visit on May 28, 2024
• Return visit to Odessa in August for meeting with taxing entities
Project Texas Clean Energy 4.1.24
• $200 million capital investment
• 100-120 new FTEs
• 100-200 acres
• Site visit made on 5/15/2024
• Performing due diligence on site in Ector County
Project Repo 04.09.24
• Application received
• EDA will be considered by ODC Board on 6/13/2024
• ODC Compliance reviewed / update grant
• EDA will be reconsidered by ODC Board on August 8th at the request of City
Council
Project King Maker 03.06.24
• King Power
• Manufacturing facility to produce Aviation Fuel
• Brownfield site ok, 250 to 400 acres
• Converting CO2 to fuel
• Employ between 100 to 200 FTE’s
• $1.25 to $1.8 Billion Cap Ex
• Green power production of 200 – 500 MW of electricity
• Planning site visit by end of August 24
Project Triple S 03.04.2024
• Local expansion, 7 FTE’s, 700,000 Cap Ex
• ODC Compliance Committee approved a grant, company is looking for a new
facility/land to finalize grant application
• Company reps are reviewing the performance agreement
• ODC Compliance reviewed annual job breakdown
• ODC Board will consider EDA at the August meeting
• Client is working on a few things before moving forward
• Will continue to council on agreement and job breakdown
Project Molecule 10.19.23
• Project recruited through Site Consultant relationship
• Signed NDA on 10/23/23
• $100 million capital investment, 5-10 new FTE’s
• Consultants visit on 10/24/23
• Will provide ancillary support to 1PointFive
• Arranged meetings with Ector County Commissioners and Odessa College on
10/24/23
• 312 Agreement to be considered by Ector County Commissioners Court in
December or January
• Commissioners Court approved agreement on 12/14/2023
• OC Finance Committee and Board of Trustees to discuss 312 Agreement in April
• OC Board of Trustees will consider 312 Agreement on 4/23/2024
• OC Board of Trustees passed 312 Abatement Agreement for Project at their May
meeting
Project Beautiful Flower 09.21.23
• New company HQ for company with locations in multiple states
• $8 to $10 million Cap Ex
• 20 to 30 new FTE’s
• Met with ODC Board in closed session on 12/14/23
• Readdressing financials per ODC Board request
Project Lone Star Lithium 06.02.22
• EV Electric Vehicle Battery Manufacturer
• 1,000 +/- jobs
• $1 billion Cap Ex
• Company representatives visited Odessa in early December. They met with City
of Odessa, Ector County, ECISD, OC, UTPB and MCHS. Toured a site in
Penwell
• Company continues to tour sites for their EV Plant
• Met with Governor’s Office of Economic Development and TCEQ reps
• Meeting scheduled with Project and Governor’s Office in January
• Scheduling visit in April or May to discuss alternative sites
• Site visit conducted on May 20, 2024
Project Logical Location 02.2023
• Transportation project
• $17 million Cap Ex
• 15 to 30 new FTE’s
• Will meet with ODC Board in closed session on 1/11/23
• Currently addressing questions with Compliance Committee
• ODC entered into an MOU
Project Fuse – Border States Under Construction
Project CTV – 1PointFive Under Construction
Project Flow – Standard Industrial Manufacturing Under Construction
Project Frost - GCC Under Construction
Project Freedom – Liberty Energy Under Construction
Project Sergio BESS LLC – Under Construction
Odessa Partnership
• Partnership met Thursday, April 4, 2024
Services and Other Activities
• June Odessa Development News sent Mailchimp and posted to website
• June TWC employment by industry figures updated and posted to website
• Certificate of Origin, Eckel Manufacturing for parts shipping to Kuwait
• Demographic Information – Chelsea Mason, Fastenal
BR&E Visits for July 2024
Lee & Associates Justin Tunnell Building Permit Questions
Raul Meca 10 acres for truck parking
Sefan Keen
New Survey Company Charles Buzzard Referred to SBDC
Marian Barrigan New business counselling
Asiliheart Priscilla Mann BRE grant discussion
Minerva Minex Daniel Nasra Possible business relocation
Glazers Terry Farr BRE meeting
Anderson Machinery Paul Moorhead BRE meeting
Karen Squires New business counselling
Steve Strahan 10 acres for DC
** Started an email campaign to existing businesses – 64 emails sent **
ODC Marketing Meeting - Current
Media Director and Staff
Odessa Chamber Board of Directors
Meeting Director and Staff
Odessa Chamber Executive Meeting Director and Staff
I&D Meeting Director
ODC Compliance Committee
Orientation Director and Staff
TAB Chamber Advocacy Committee
Meeting Director
Governor’s Small Business Summit
Team Meeting Director and Staff
EDD Team Meeting Director and Staff
EPA Workshop Staff
High Ground Roundtable – Big Lake Staff
Project Cohort Team Meeting Director and Staff
OC Workforce Training Discussion Director and Staff
TTUHSC Permian Basin Institutional
Master Plan Update Director
Chamber 101 Session Staff
Team Texas New York Road Show Director
Inflation Reduction Act Webinar Director
Odessa Economic Indicators
2024
Sales and Use Tax
June 2024 2023 % Change
City of Odessa $5,994,355 $5,472,323 9.54%
Totals YTD $36,152,106 $36,183,772 -0.09*%
Labor Market Statistics Permian Basin Rig Count
June 2024 2023 Month 2024 2023
Civilian Labor Force 87,472 85,904 June 204 236
Total Employment 84,015 82,943 May 207 240
Total Unemployment 3,457 2,961 April 212 250
Unemployment Rate 4.0% 3.4% March 211 243
Payroll Employment Estimate 81,400 80,800
Midland International Air and Space Port MLS Statistics-Residential (SF/COND/TH)
June 2024 2023 June 2024 2023
Enplaned 70,340 61,566 Total Sold 155 150
Deplaned 68,832 57,186 Dollar Volume $45,537,789 $40,003,415
Enplaned YTD 360,749 320,511 Total Sold YTD 862 956
Deplaned YTD 353,271 311,644 Volume YTD $245,012,587 $247,078.335
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
July Marketing Report
2024
Facebook “X” formerly Twitter
123,000 Account Reach 1,006 Followers
4,002 Followers 11 Post
19 New Followers 24 Engagements
1,000 Page Visits
Instagram LinkedIn
5,500 Account Reach 58 Reactions
1,573 Followers 766 Followers
37 New Followers 30 New Followers
120 Page Visits 49 Page Views
This is organic social media and doesn’t
include the data from paid campaigns
Economic Development Department 5:29 PM
Balance Sheet 07t10t2024
As of June 30,2024 Accrual Basig
Approved by Exec Board7l15l24
Jun 30,24 Jun 30, 23
ASSETS
Current Assets
Checking/Savings
1015 . Prosperity Bank (ASB) ODC 331,708.47 132,056.17
Total Checking/Savings 331.708.47 132,056.17
Other Current Assets
1080 . Accounts Receivable 505.65 99.73
1100 . Prepaid lnsurance 1 ,188.00 1,127.00
1130 . ROU Asset 157,197.00 0.00
1 131 . Accumulated amortization -42,853.00 0.00
Total Other Gurrent Assets 1 16,037.65 1,226.73
Total Current Assets 447 ,746.12 133,282.90
Fixed Assets
1200 . Office Equipment
1205 .Office Equipment 583.65 583.65
1210' Accumulated Depreciation -583.65 -583.65
Total 1200 .Office Equipment 0.00 0.00
Total Fixed Assets 0.00 0.00
TOTAL ASSETS 447,746.',12 133,282.90
LIABILITIES & EQUIry
Liabilities
Current Liabilities
Accounts Payable
2000 .Accounts Payable
4 gg
Total Accounts Payable 6,269.06 1 0,555.80
Other Current Liabilities
2005' lnterfund Payable 42,477.89 14,636.41
2008 . Lease Liability 114,344.00 0.00
2040 . FICA Taxes Payable 2,522.60 1.733.02
2090 . Employee lns Payable
2090.10' Health Payable -52.55 -26.19
2090.20' Dental Payable -11.34 -1 1.31
2090.30'Aflac Payable 346.52 -59.69
2090.40 . Life Payable 20.15 20.15
2090.60 . Vision Payable 401.28 35.04
Total 2090 . Employee lns Payable 704.06 -42.00
2100 .Other PR Liabilities 33,370.32 22,996.36
Total Other Current Liabilities 193,418.87 g
Total Current Liabilities
Total Liabilities
991 1 99,687.93
49,879.59
49,879.59
Eguity
Net lncome 248,058.1 I J19131
Total Equity 248,058.1 I 83,403.31
TOTAL LIABILITIES & EOUITY M7,746.12 1 33,282.90
Page 1 of I
Economic Development Department 5:28 PM
Profit & Loss Budget vs. Actual 07t10t2024
June2024 Accrual Basis
Approved by Exec Board7l15l24
Jun24 Budget
lncome
3000.Program lncome
3010' Allocated Funds City 98,944.00 98,944.00
Total 3000 ' Program lncome 98,944.00 98,944.00
3050 . lnterest lncome 44.09
Total lncome 98,988.09 98,944.00
Gross Profit 98,988.09 98,944.00
Expense
4000'Program Expenses
4005 . Salaries and Wages 33,228.92 37,138.00
4007 'Auto Allowance 1,400.00 1,400.00
4020'Payroll Taxes 2,608.70 2,841.00
4030 .Workers Comp lnsurance 46.00 48.00
4040.D&Olnsurance 143.00 148.00
4045 . Liability lnsurance 163.00 180.00
4050 . Employee lnsurance 3,676.49 4,446.00
4060 . Employee Retirement 1,661.45 1,857.00
4080 .Auto lnsurance 16.00 15.00
4090 . Auto Expense 341.32 390.00
5000 . Ghamber of Commerce 4,143.00 4,143.00
5010 . Office Lease 4,263.29 4,383.00
5015 . Gomputer Services 854.67 809.00
5020 . Dues & Subscriptions 1,554.65 1,785.00
5030 . Professional Development 1,886.88 '1,750.00
5060 .Office Expense 1,001.30 1,400.00
5070 ' Postage Expense 191 .00 100.00
5080 . Telephone Expense 663.1 5 742.00
5090 . Public Relations/Promotion 71.41 400.00
5093 'Advertising 4,920.20 900.00
5100 . Prospect Development 409.08 4,250.00
5110 . Existing lndustries 320.36 500.00
5125 . Land Development 0.00 2,500.00
5128' Workforce Programs 12.00 25,000.00
5160 . Odessa Partnership 0.00 300.00
5190 .Trade Shows 0.00 4,200.00
5375.Retreat 1,222.10 1,800.00
Total 4000 . Program Expenses 64,797.97 103,425.00
Total Expense 64,797.97 103,425.00
Net lncome 34,190.12 -4,481.00
Page 1 of 1
Econom ic Development Department 5:27 PM
Profit & Loss Budget vs. Actual YTD 07t10t2024
October 2023 through June 2024 Accrual Basis
Approved by Exec Boad7l15l24
Oct'23 - Jun 24 Budget
lncome
3000 . Program lncome
3010 .Allocated Funds City 890,497.50 890,497.00
Total 3000 . Program lncome 890,497.50 890,497.00
3050 'lnterest lncome 400.1 I
Total lncome 890,897.69 890,497.00
Gross Profit 890,897.69 890,497.00
Expense
4000 . Program Expenses
4005 . Salaries and Wages 307,775.56 352,031.00
4007 .Auto Allowance 12,600.00 12,600.00
4020 . Payroll Taxes 23,537.53 27,330.00
4030 .Workers Comp lnsurance 414.00 432.00
4040.D&Olnsurance 1,287.00 '1,332.00
4045 . Liability lnsurance 1,467.O0 1,620.00
4050 . Employee lnsurance 33,088.41 40,014.00
4060 . Employee Retirement 15,288.77 17,567.00
4080 'Auto lnsurance 144.00 I 35.00
4090 .Auto Expense 2,172.90 3,510.00
5000 ' Chamber of Commerce 37,287.00 37,287.00
5010 . Office Lease 37,728.66 38,207.00
5015 . Computer Services 7,563.92 5,681.00
5020 . Dues & Subscriptions 82,286.11 82,834.00
5030 . Professional Development 17,332.62 22,850.0O
5060'Office Expense 6,373.04 12,600.00
5065 . Publication/Printing 565.95 1,350.00
5068 ' Copy Expense 780.75 810.00
5070 . Postage Expense 546.94 900.00
5080 . Telephone Expense 5,826.41 6,878.00
5085 . Legal & Accounting 9,524.00 9,270.00
5090' Public Relations/Promotion 2,106.07 6,700.00
5093 .Advertising 1 1,916.00 14,200.O0
5100 ' Prospect Development 8,039.64 34,250.00
51'10 . Existing lndustries 3,383.86 5,500.00
5125 .Land Development 0.00 16,038.00
5'128 . Workforce Programs 4,417.02 1 05, 1 29.00
5160 . Odessa Partnership 0.00 1,200.00
5190 . Trade Shows 7,774.39 3'1,000.00
5375 . Retreat 1,61 1.95 3,600.00
Total 4000 . Program Expenses
Total Expense
642,839.50
642,839.50
4 892,855.00
Net lncome _?48,058.19- : -2,358.00
Page I of I
Odessa Development Corporation
MARKETING UPDATE
JULY 2024
JULY 2024 UPDATE
WEBSITE
The target industry sections of the website have been revamped to reflect changes to
the target industries. New landing pages for each industry and front page photos for all
5 target industries have been added/updated. Each landing page has a contact form
that visitors can fill out, and each form has trackable information on the site’s backend
that helps the Economic Development department see who is visiting the page, and
how they go there (i.e. from an ad or organic post on social media, etc.).
During the January 2024 Workforce Summit, business leaders expressed a need for
additional Workforce Development resources and collaboration. Updated website traffic
suggests more users are investigating what Workforce Resources the ODC has to offer.
In July, we continued to see consistent traffic, however, page views nearly doubled,
meaning more people clicked onto more pages this month, rather than just looking at
one page and leaving.
There were:
27,131 page views by 11,179 people
These website visitors performed 54,939 trackable actions, up from 43,314 last month.
Home Page 13,992
Target Industries/Advanced Manufacturing 9,219
Workforce Resources 1,388
DIGITAL CAMPAIGNS
July was an excellent month with considerable growth over June in every campaign
except for the LinkedIn Workforce campaign which was essentially even with 10 fewer
clicks than June.
Facebook/Instagram Campaigns
● Manufacturing had 5,071 clicks on 101,304 impressions - reaching 67,088
people
● Workforce had 3,074 clicks on 192,910 impressions - reaching 54,027 people
LinkedIn Campaigns
● Manufacturing had 1,633 clicks on 131,109 impressions - reaching 27,517
people
● Workforce had 299 clicks on 33,371 - reaching 4,490 people
Programmatic Video & Display Campaigns
Programmatic numbers look very good, with another call-out to the new Manufacturing
programmatic video. The video ad retained its dominance this month, outperforming last
month’s click-through rate, and display creative remained consistent making for a
stronger month than last. We had 492 clicks to the website (369 last month) on 483,546
impressions (417,746 last month). The click-through rate remained impressive,
increasing to .10%, which is a higher share of delivery than typical when display and
video are served together.
Programmatic Campaigns
● Workforce campaign had 265 clicks on 274,604 impressions (.10% CTR)
● BRE campaign had 375 clicks on 238,751 impressions (.16% CTR)
● Manufacturing campaign had 492 clicks on 483,576 impressions (.10% VTR)
Note: The average display ad CTR is.05%.
(https://www.smartinsights.com/internet-advertising/internet-advertising-analytics/display-advertising-clickt
hrough-rates/).
LEAD FORENSICS
Below are some of the call-outs from Lead Forensics in July. Once again, company
names have been omitted from this report for privacy but will be shared with economic
development staff.
Oil & Gas - 17 visits
NAICS Codes: 211120, 213112, 221210
Employees - 500-999
Notes: Located in Midland
Metal Manufacturing - 32 visits
NAICS Codes: 331110, 332710, 333132
Employees 100-199
Notes: Located in Midland
Construction and Transit Company - 32 visits
NAICS Codes: 237310, 485119
Employees 100-199
Notes: Located in South Carolina, spent significant time on Why Odessa page
Below is the Lead Forensics breakdown of the industries visiting the ODC website during the
month of June.
PUBLICATIONS/EDITORIAL
Below is a reminder of the upcoming magazine ads. Editorial is also being submitted on
these.
Site Selection - July- Renewable Energy Spotlight
Site Selection - September - Texas Spotlight
Business Facilities - July/August - Renewable Energy Spotlight
Area Development - September - Sustainability Spotlight
Trade & Industry - October - Workforce
LOCAL PUBLIC RELATIONS
Current has just started work with Newswest 9 on the “Getting to Know the ODC”
campaign. This will be a mix of news and paid advertising. We will continue to be
working in August to help set up interviews, sources and pictures/video as needed now
that the final plan now that the final plan is developed.
SOCIAL MEDIA/BLOGS/CONTENT
New social content is continually being developed to keep the digital campaigns fresh
for new visitors.
We have developed a new weekly “Workforce Wednesday” content series that launched
in early July. Content is scheduled through September. Content will focus on workforce
tips, resources and highlights from our partners at OC, UTPB, Workforce Solutions, etc.
Graphics reflect the new creative concepts. Additional concepts will be added
throughout the campaign.
Current Media Partners developed new content for the Odessa Chamber of Commerce
“Chamber Connection” newsletter, highlighting ODC successes and the Odessa Works
program. A new ad is being developed for the “Chamber Journal” page that runs
monthly in the Odessa American.
CMP will begin shooting new video content for the website and online ads in August.
PAID SOCIAL/PROGRAMMATIC ADVERTISING REPORT
July report attached.
July 2024 Results
Manufacturing | BRE | Workforce
FACEBOOK/INSTAGRAM
July 2024 Performance Overview - Workforce
Clicks to Website: 3,074
Impressions Delivered: 192,910
People Reached: 54,027
Reactions: 227
Shares: 14
This report contains data from 7/1-7/30/24. In addition to the engagement above, we recorded 12
comments, 5 post saves, and 18,008 page engagements (actions taken on the Facebook Page,
Instagram profile, or any content, attributed to the ads). The next slide contains the two best-
performing ads of the month, accounting for 1,784 of the campaign’s July link clicks.
FACEBOOK/INSTAGRAM
Best Performers - Workforce
FACEBOOK/INSTAGRAM
July 2024 Performance Overview - Manufacturing
Clicks to Website: 5,071
Impressions Delivered: 101,304
People Reached: 67,088
Reactions: 13
Shares: 2
This report contains data from 7/1-7/30/24. In addition to the engagement above, we recorded 9 post
saves and 63,289 page engagements (actions taken on the Facebook Page, Instagram profile, or
any content, attributed to the ads).
FACEBOOK/INSTAGRAM
Creative Screenshot - Manufacturing
LINKEDIN
July 2024 Performance Overview - Workforce
Clicks to Website: 299
Impressions Delivered: 33,371
People Reached: 4,490
Reactions: 10
Shares: 0
This report contains data from 7/1-7/30/24. This campaign specifically targets Odessa business
owners and C-level executives. The next slide contains the two best-performing ads of the month,
accounting for 140 of the campaign’s July link clicks.
LINKEDIN
Best Performers - Workforce
LINKEDIN
Demographics - Workforce - Company Industry
LINKEDIN
July 2024 Performance Overview - Manufacturing
Clicks to Website: 1,633
Impressions Delivered: 131,109
People Reached: 27,517
Reactions: 9
Shares: 1
This report contains data from 7/1-7/30/24. This campaign specifically targets Manufacturing site selectors,
based on their job titles, employers, group memberships, and specified skills. The next slide contains the
two best-performing ads of the month, accounting for 865 of the campaign’s July link clicks.
LINKEDIN
Best Performers - Manufacturing
PROGRAMMATIC VIDEO/DISPLAY
July 2024 Performance Overview - Manufacturing
Clicks to Website: 492
Impressions Delivered: 483,576
Click-Through Rate: .10%
This report contains data from 7/1-7/30/24. The video ad’s performance remains strong
but the 320x50 mobile “Manufacture Here” display ad surpassed it this month.
PROGRAMMATIC VIDEO/DISPLAY
Engagement Overview - Manufacturing - Top 5 Ads
320x50 MH Upgrade Video 300x250 MH 300x50 MH 728x90 MH
Clicks Clicks Clicks Clicks Clicks
173 102 63 52 51
Impressions Impressions Impressions Impressions Impressions
128,537 152,056 91,178 42,135 41,755
CTR CTR CTR CTR CTR
.14% .07% .07% .12% .12%
PROGRAMMATIC VIDEO/DISPLAY
July 2024 Performance Overview - Workforce
Clicks to Website: 265
Impressions Delivered: 274,604
Click-Through Rate: .10%
This report contains data from 7/1-7/30/24. Similar to last month, the “Full of Energy” ad
set continues to climb but Willie Taylor’s video performed well, retaining its spot in the top
three performers.
PROGRAMMATIC VIDEO/DISPLAY
Engagement Overview - Workforce - Top 5 Ads
320x50 FoE Taylor Video 300x50 FoE 300x250 FoE 728x90 FoE
Clicks Clicks Clicks Clicks Clicks
115 51 29 28 27
Impressions Impressions Impressions Impressions Impressions
108,165 54,421 31,110 51,070 21,025
CTR CTR CTR CTR CTR
.11% .09% .09% .06% .13%
PROGRAMMATIC VIDEO
July 2024 Performance Overview - BRE
Clicks to Website: 375
Impressions Delivered: 238,751
Click-Through Rate: .16%
This report contains data from 7/1-7/30/24. Performance rebounded after last month’s
slight dip, continually proving the staying power of these interviews (and the strength of
the format).
PROGRAMMATIC VIDEO
Engagement Overview - BRE
Campbell Video Manskey Video Jones Video Crow Video
Clicks Clicks Clicks Clicks
106 102 97 70
Impressions Impressions Impressions Impressions
63,509 62,930 64,850 47,462
CTR CTR CTR CTR
.17% .16% .15% .15%
Black Chamber of Commerce of The Permian Basin
700 N. Grant St. Suite # 200
Odessa, TX. 79761
Greetings on July 30th, 2024!
We are delighted and proud to come together as the diligent members of the
BCCPB to provide an update to the ODC Board of Directors on the various
activities we have undertaken in the past month. We are thrilled to present the
impressive progress and important milestones reached by the Chamber. With a
deep commitment to improving our community, we have actively participated
in a variety of projects and initiatives, channeling our dedication and
enthusiasm into endeavors that strive to make a lasting and positive difference.
The Black Chamber of Commerce is excited to share a detailed analysis of the
key activities and accomplishments organized by the BCCPB throughout July
2024. This extensive report is designed to offer a comprehensive overview of
the significant progress made within our community and city. The
forthcoming update underlines the unwavering commitment of the Black
Chamber of Commerce to nurturing growth and prosperity in our area. From
active participation in events to strategic partnerships and valuable
sponsorships, this report provides a thorough recap of the impactful
contributions and meaningful engagements conducted by the BCCPB during
the productive month of July in 2024.
During July 2024, the BCCPB saw significant growth in its online presence. A
remarkable 17% increase in Facebook activity was achieved through strategic
social media posts and regular updates about upcoming events on the BCCPB
calendar. This boost was further enhanced by promoting the 1st Annual
BCCPB charitable fund bowling tournament, Literacy festival, participation in
the PRWC Conference, the promotion of the upcoming Ebony Bar Awards
Banquet, and more. Additionally, the BCCPB saw a promising 4.0% increase
in Instagram followers, indicating ongoing progress and engagement across
various digital platforms. There was a noteworthy 20% surge in website traffic
over a seven-month period, highlighting the impact of consistent updates and
informative flyers on the online audience. Throughout July, the Black
Chamber recorded over 900 interactions, including office visits, phone calls,
voicemails, emails, and personal visits, underscoring the organization's
expanding influence and connectivity within the community. This rise in
engagement reflects the Black Chamber's active involvement and community
development efforts in July 2024.
1. In July 2024, the BCCPB hosted 7 counseling sessions. These sessions
encompassed a range of topics including building assistance, financial
planning, exploring new membership opportunities, success strategies, and
event planning. Our primary emphasis continues to be on aiding the progress
and expansion of small to medium-sized businesses.
2. On July 11th, 2024, the BCCPB helped one of our local churches serve
over 150 food boxes to families in need and trying to make ends meet. The
total boxes decreased in July. This session we accommodated each family that
showed up.
3. On July 11th,12th, and 13th the Black Chamber of Commerce sponsored
and participated in the (PRWC) Professional Relaxation Womens conference
hosted by Dr. Detrick Gorman. This conference helped with stress
management, confidence building and so much more! This sponsorship came
with (4 Tickets).
4. On July 17th, 2024, the Black Chamber of Commerce of the Permian
Basin supported the Woodson Boys & Girls Club in their ribbon-cutting
ceremony for the unveiling of their newly renovated learning space. The event,
named Pandas Cares Center of Hope, marked a significant milestone for the
organization.
5. On July 17th, the Black Chamber of Commerce partnered with a
community group to supply nutritious meals to more than 60 children enrolled
in a summer program.
6. The Black Chamber of Commerce of the Permian Basin proudly hosted
its first-ever Charitable Fund Bowling Tournament on July 20th, 2024, at the
lively Diamond Lanes Bowling Alley. This special event was dedicated to
raising funds for scholarships to assist graduating seniors in the Permian Basin
as they pursue higher education.
7. On July 27th, 2024, the Black Chamber actively participated in and
contributed as a sponsor to the Woodson Boys and Girls Club Children’s
Literacy Festival. This engaging event was designed to provide children with a
platform to enhance their knowledge, enjoy themselves, and receive essential
items for their return to school in August.
8. On July 11th, 2024, the BCCPB convened a meeting to discuss
strategies for increasing voter turnout. The session involved an open dialogue
on the planning and execution of initiatives to encourage community members
to participate in the electoral process and ensure their voices are heard.
9. On July 15th, 2024, the BCCPB held a meeting with ConocoPhillips to
explore the details of their Small Business program aimed at securing funding
for small businesses. This collaborative discussion focused on strategies to
support and empower small business owners in the community.
10. On July 28th, 2024, the Black Chamber of Commerce of the Permian
Basin collaborated with various organizations to conduct a Deputy voter sign-
up class. This initiative's purpose was to recruit individuals who would help
spread awareness about the importance of voting.
11. The BCCPB is in the initial planning phase for its first Blood Drive of
the year, in collaboration with Vitalant Blood Services, with the goal of
boosting their inventory. The drive is scheduled to occur on September 7th,
2024.
12. The BCCPB is currently in the planning stages for the 34th Annual
Ebony Bar Awards Banquet, a highlight of the Black Chamber's 40th
Anniversary Celebration. The event is scheduled for October 5th and promises
to be a spectacular gathering as it has been in previous years.
Black Chamber of Commerce of The Permian Basin
July 2024 Financial Report/July 31, 2024
Monthly Income and Expenses: 7/01/2024 thru 7/31/2024
(Beginning Account Balance) 7/01/2024________________$3,160.90
BCCPB (Income) 7/01/2024 thru 7/31/2024 ______ $12,500.00
*BCCPB (Expenses 7/01/2024 thru 7/31/2024)
Salary (BCCPB Secretary) 7/15/2024 ________ $ 971.54
Salary (BCCPB Secretary) 7/31/2024 ________ $ 709.80
Salary (Contact Labor for Office)7/31/2024_____________________$720.00
Salary (Events Coordinator) 7/31/2024___________ $ 1,000.00
(Salaries $3,401.34)
Promotional Items 7/01/2024 thru 7/31/2024 ____________ $ 199.36
(Promotional Items $199.36)
Office Supplies 7/01/2024 thru 7/31/2024 ________________ $ 0.00
(Office Supplies $0.00)
Sponsorship 7/01/2024 thru 7/31/2024 __________________ $0.00
(Sponsorship $0.00)
Miscellaneous 7/01/2024 thru 7/31/2024_________________ $ 0.00
(Miscellaneous $ 0.00)
Total Expenses thru (7/31/2024) _____________________ $ 3,600.7
*Balance on BCCPB Account as of (7/31/2024) _________ $12,060.2
Chris E. Walker BCCPB President/CEO
“Celebrating 40 Years of Service”
UTPB SMALL BUSINESS DEVELOPMENT CENTER
2023-2024 New Business Start-Ups & Expansions
July-24
ODESSA OTHER LOCATIONS ACTIVITIES
Counseling
New Businesses 0 New Businesses 4 235 Seminars 5
Sessions
Am Am
FTE's 16.50 FTE's 22.00 2
Ind/N/Alaskan Ind/N/Alaskan
Asian/pac. Asian/pac.
1
Islander Islander
Black 35 Black 20
Hispanic 49 Hispanic 13
Non-Hispanic 151 Non-Hispanic 11
Total Clients 71 Total Attendees 28
Counseling
192 Training Hours 39
Hours
Cumulative End of Year
2023-2024 2022-2023
Oct-23 Nov-23 Dec-23 Jan-24 Feb-24 Mar-24 Apr-24 May-24 Jun-24 Jul-24 Aug-24 Sep-24
Totals Totals
Counseling Sessions 319 365 324 248 217 208 268 276 228 235 0 0 2688 2940
Counseling Hours 252 261 214 200 175 165 272 261 189 192 0 0 2181 2539
Seminars Presented 6 3 2 2 8 4 3 3 5 5 0 0 41 34
Attendees 117 43 20 18 53 26 72 57 45 28 0 0 479 586
Training Hours 213.0 50.0 22.0 34.0 64.0 26.0 144.0 160.0 72.0 39.0 0.0 0.0 824.0 656.0
New Businesses 2 2 0 3 3 4 3 4 4 4 0 0 29 43
Odessa New Business 1 2 0 2 1 0 1 0 2 0 0 0 9 20
Expansions 0 0 0 0 0 0 0 0 0 0 0 0 0 3
Capitalization $205,000 $270,000 $295,000 $655,000 $610,000 $277,000 $825,000 $175,000 $667,000 $4,577,000 $0 $0 $8,556,000 $13,524,107
Odessa Capitalization $205,000 $210,000 $250,000 $255,000 $465,000 $177,000 $0 $100,000 $27,000 $580,000 $0 $0 $2,269,000 $6,533,798
Total FTE's 29.50 9.00 5.00 20.00 32.00 17.00 12.50 23.50 18.00 38.50 0.00 0.00 205 283
7/31/2024 NAG
July 22, 2024
The Honorable Kris Crow, Chair
Odessa Development Corporation
P.O. Box 4398
Odessa, Texas 79760
Dear Chairman Crow:
Please find the attached monthly financials for June 2024, as well as, our
Monthly Report for the Midland-Odessa Transportation Alliance, Inc.
We appreciate your continued support and assistance.
Sincerely,
James Beauchamp
President, Midland-Odessa
Transportation Alliance
cc. The Honorable Javier Joven, City of Odessa
P.O. BOX 60816 • MIDLAND, TX 79711 • (432) 563-6240 • WWW.MOTRAN.ORG
June 2024
UTP REVISIONS
The Texas Transportation Commission recently released their 2025 Draft Unified
Transportation Plan (UTP) for public comment.
The UTP does include an additional $60 million for Interstate 20 Improvements to
widen from 4 lanes to 6 lanes from west of FM 1936 to East of JBS Parkway. (The
portion from SH 349 back to Odessa is already fully funded)
The only other new funding (outside projects programmed through local funding
allocations) was US 285 in Reeves County. An additional $162.4 million was
programmed for four lane divided from SH 302 to RM 652. That project still has a
gap of another $162.4 million. (The portion from FM 1216 to SH 302 is already
funded in the amount of $284.48 million)
Currently, we are soliciting comments to submit back on the UTP, calling for
additional funding in the next UTP and to broaden projects beyond just I-20 and
US 285.
SOCIAL MEDIA MARKETING REPORT
Fiscal Year 2023-24 - Quarters 1-3
PAID 22-23 ANNUAL OCT 23-JUN 24
LinkedIn
Impressions 797,176 1,372,722
Reach 395,290 386,328
Frequency 2.03 3.48
Clicks/Engagement 8,159 18,885
Facebook
Impressions 1,210,597 3,196,750
Reach 279,764 494,856
Frequency 4.93 6.56
Clicks/Engagement 4,230 8,128
TOTAL VIEWS 2,007,773 4,569,472
TOTAL REACH 675,054 881,184
TOTAL ENGAGEMENT 12,389 27,013
IN-HOUSE MARKETING FREE VIEWS IN LOCAL MARKET
FREE 22-23 ANNUAL OCT 23-JUN 24
LinkedIn
Impressions 123,826 216,693
Reach 62,285 130,643
Frequency 2.04 1.67
Clicks/Engagement 477 939
Facebook
Impressions 154,354 116,433
Reach 117,738 82,703
Frequency 1.39 1.29
Clicks/Engagement 16,549 11,467
TOTAL VIEWS 278,180 333,126
TOTAL REACH 180,023 213,346
TOTAL ENGAGEMENT 17,026 12,406
9:53 AM MOTRAN ALLIANCE, INC.
07/08/24 Profit & Loss YTD Comparison
Cash Basis June 2024
Jun 24 Oct '23 - Jun 24
Ordinary Income/Expense
Income
4000 · Founding Member Dues 417.00 18,753.00
4010 · Member Dues 2,500.00 73,000.10
4200 · Interest Earned 1,123.79 8,907.08
4400 · Grants 0.00 15,000.00
4410 · MDC 0.00 142,500.00
4420 · ODC 0.00 106,875.00
4600 · PBC Revenue 0.00 50,000.00
Total Income 4,040.79 415,035.18
Expense
I-14 Initiative 10,000.00 10,000.00
5000 · Marketing
5001 · MOTRAN Marketing 935.28 16,750.55
5000 · Marketing - Other 0.00 3,287.69
Total 5000 · Marketing 935.28 20,038.24
5025 · Travel Expenses 310.21 1,068.85
5050 · Events & Expos 419.19 19,218.84
5075 · Professional Services 0.00 13,417.60
6000 · Administration
6035 · Dues & Subscriptions 118.96 508.64
6045 · Food & Entertainment 491.15 2,078.23
6055 · Gifts 0.00 2,743.76
6060 · Insurance 3,697.83 3,797.83
6085 · Office Lease 0.00 5,310.00
6090 · Office Supplies 24.64 376.90
6105 · Postage 70.19 1,009.52
6115 · Program Supplies 0.00 2,986.17
6140 · Telephone 275.97 2,488.38
Total 6000 · Administration 4,678.74 21,299.43
6010 · Bank Service Charges 0.00 0.00
6500 · Personnel
Retirement fees 135.00 1,035.00
6501 · Salaries & Wages 17,408.34 141,519.14
6502 · Payroll Taxes 1,358.94 10,012.26
6503 · Employee Health Reimbursement 1,016.00 7,618.00
6504 · Payroll Service Fee 159.74 1,451.39
6505 · Retirement Contributions 568.34 4,995.14
Total 6500 · Personnel 20,646.36 166,630.93
7410 · Previous year remittance-MDC 0.00 1,187.11
7420 · Previous year remittance-ODC 0.00 1,187.11
Total Expense 36,989.78 254,048.11
Net Ordinary Income (32,948.99) 160,987.07
Net Income (32,948.99) 160,987.07
Page 1
9:53 AM MOTRAN ALLIANCE, INC.
07/08/24 Balance Sheet
Cash Basis As of June 30, 2024
Jun 30, 24
ASSETS
Current Assets
Checking/Savings
1000 · Frost MOTRAN Checking 1,746.07
1010 · Frost MOTRAN Money Market 450,635.87
1015 · Frost-ODC Money Market 37,476.08
1020 · Frost- MDC Money Market 73,035.28
Total Checking/Savings 562,893.30
Total Current Assets 562,893.30
Fixed Assets
1500 · Furniture & Fixtures 926.94
1510 · Accum. Dep - Furn & Fix (926.94)
1520 · Machinery & Equipment 3,356.07
1530 · Accum Dep - Mach & Equip (3,356.07)
Total Fixed Assets 0.00
TOTAL ASSETS 562,893.30
LIABILITIES & EQUITY
Equity
3900 · Net Assets 401,906.23
Net Income 160,987.07
Total Equity 562,893.30
TOTAL LIABILITIES & EQUITY 562,893.30
Page 1
9:54 AM MOTRAN ALLIANCE, INC.
07/08/24 Statement of Cash Flows
June 2024
Jun 24
OPERATING ACTIVITIES
Net Income (32,948.99)
Net cash provided by Operating Activities (32,948.99)
Net cash increase for period (32,948.99)
Cash at beginning of period 595,842.29
Cash at end of period 562,893.30
Page 1
9:53 AM MOTRAN ALLIANCE, INC.
07/08/24 Statement of Cash Flows
October 2023 through June 2024
Oct '23 - Jun 24
OPERATING ACTIVITIES
Net Income 160,987.07
Net cash provided by Operating Activities 160,987.07
Net cash increase for period 160,987.07
Cash at beginning of period 401,906.23
Cash at end of period 562,893.30
Page 1
MOTRAN, INC. MONTHLY EXPENSE SUMMARY
FOR THE MONTH OF Jun-24
EXPENDITURE CATEGORIES MONTHLY EXPENSE MDC ODC
Bank Service Fees
Dues and Subscriptions $118.96
Events and Expo's $419.19
Food and Entertainment $491.15
Gifts
Health Insurance Reimbursement $1,016.00
I-14 Initiative $10,000.00 $2,500.00 $2,500.00
Insurance $3,697.83
MOTRAN Marketing $935.28 $328.26 $328.26
Other Marketing $0.00
Misc. Expense
Office Lease
Office Supplies $24.64
Payroll Salaries $17,408.34 $8,704.17 $8,704.17
Payroll Taxes $1,358.94 $679.47 $679.47
Payroll Service Fee $159.74
Retirement Contributions $568.34
Retirement Fees $135.00
Postage $70.19
Professional Services
Program Supplies
Travel $310.21 $155.10 $155.10
Other Travel
Utilities: Telephone & Internet $275.97
Previous Year Reimittance MDC
Previous Year Reimittance ODC
TOTAL EXPENSES $36,989.78 $12,367.00 $12,367.00
MOTRAN ALLIANCE, INC.
June 2024- FY 2023-24 City EDC Funding Breakdown
Budget Current Remaining Percent
FY2023-24 Month YTD Amount Balance Remaining
Revenue
Founding Members Dues $20,000.00 $417.00 $18,753.00 $1,247.00 6%
Member Dues $75,000.00 $2,500.00 $73,000.10 $1,999.90 3%
Midland Development Corp $142,500.00 $142,500.00 $0.00 0%
Odessa Development Corp $142,500.00 $106,875.00 $35,625.00 25%
PBC Revenue $50,000.00 $50,000.00 $0.00 0%
Grants $15,000.00 $15,000.00 $0.00 0%
Interest Income $10,100.00 $1,123.79 $8,907.08 $1,192.92 12%
Total Revenues $455,100.00 $4,040.79 $415,035.18 $40,064.82 9%
Expenditures
Bank Fees
Dues & Subscriptions
Events
Food & Entertainment
Gifts
Health Ins. Reimbursement $2,500.00 $2,500.00 $0.00 0%
Insurance
I-14 Initiative $2,500.00 $2,500.00 $2,500.00 $0.00 0%
Miscellaneous Expenses
Office Lease
Office Supplies
Payroll-Salaries $110,000.00 $8,704.17 $64,301.24 $45,698.76 42%
Payroll-Service Fee
Payroll Taxes $8,000.00 $679.47 $4,728.78 $3,271.22 41%
Retirement
Postage
Marketing $8,000.00 $328.26 $8,000.00 $0.00 0%
Other Marketing
Program Supplies
Telephone
Travel Expenses $5,500.00 $155.10 $534.42 $4,965.58 90%
Travel Other
Professional Services $6,000.00 $6,000.00 $0.00 0%
ODC Broadband
Website Updates
Contingency
TOTAL EXPENSES $142,500.00 $12,367.00 $88,564.44 $53,935.56 38%
Tom Manskey
From: Chris Vore < chrisvore@sbcglobal.net>
Sent: Thursday, luly 25,2024 3:56 PM
To: Tom Manskey
Subject: Rental King updated application
Attachments: Application for ODC Grant v3.pdf
Tom, per city council feedback, application now states (vs only verbal communication
previously) that the reason for the increased request amount is to satisfy lending partner to
be able to secure funds from them to building the facility in Odessa.
1
0derro Application for
I Economic Development Assistance
*
+ *
Economic Development
The completion of the following 6-pages of information is required for all projects requesting
economic development assistance from the Odessa Development Corporation.
Provide information in all blanks of the application form, including the check list for Required
lnformation on page 7. lf more space is needed, attach additional pages to the corresponding
information. For example, to list employees, number the attachment #5 Employment
lnformation and attach it to page 5. Your signature is required on page 2 and page 7.
lf the information requested is Not Applicable, enter "N/A" in the space.
lncomplete applications will not be considered for assistance.
After the application is reviewed, the Odessa Development Corporation may require additional
information to indicate the financial abilities or other factors of the company.
Three methods to submit the Application:
Submit the completed application by mail:
Odessa Chamber of Commerce, Economic Development Department
PO Box 3626
Odessa, Texas 79760
Submit the completed application rn person to:
700 N. Grant, Suite 200
Odessa, Texas 79761
(Bank of America Building)
Submit the completed application via email to: kathiv@odessaecodev.com
This application rnust be filed with the Odessa Chamber of Commerce, Economic
Development Department prior to making public announcement or filing Building Permit
with the City.
lf you have questions about this application, please contact the Economic Development
Department at (432) 333-7881.
l. Contact lnformation
ApplicanUBusiness Name (Exact legal name i.e. Corporation, LLC, Limited Partnership)
Rental King LLC
Mailing Address
3705-8 S County Rd 1210, Midland, TX 79706
Physical Address (lf different from mailing address)
3705-8 S County Rd 1210
City State Zip Code
lMldland Texas 79707
Phone Number/ Office Fax Number
432-695-6295 N/A
Phone Number Gell
applicant personal cell'. 432-210-51 69
EmailAddress Website
david@rentalkingllc.com, chrisvore@sbcglobal.net www. rentalki ngllc.com
Applicant's Representative Title
Chris Vore Principal
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.
a
-l\JLtlfkttYZ 0*,
AF6[icant's Signature
612s12024
Date
2
ll. Project 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 physical assets.
1. Rental King is a heavv equipment rental business. The project is to build a new facility needed for rapid growth
and successVre've experidnced oVer the last 5 years.
2. Planned captial purchases over the next 12 months are $4.25m.
3. lf we build a new facility in Odessa, approximately $2.1m of the planned $4.25m would be spent
in Odessa.
4. Land: $600,000.
Building equipped for heavy equipment repair and offices including furniture: $1.5m
75'x125'shop, primarily repair bays for heavy equipment
50'x50' office space times 2 (2nd floor)
75'x25'wash bay
7 5'x25' space to sublease
Another $2m in equipment will be purchased to expand business and justify the hiring of additional
employees.
ln the next 5 years, we would estimate to spend another $6m in Odessa than if we stayed in
Midland. Expenses would include machinery, fuel, trucking services, tires, repair services, machine
parts.
lll. Facility lnformation
Current Propertv Values in Odessa
Building Equipment
0 0
Addness and Legal Description of each Of Location
location Exoansion) circle one
N/A East 120 and JBS Parkway would be targeted for
purchase and build.
Estlrnated New Capital lnvestment for Estimated Dates for Construction
Br,rild inq Construction Start: Complete:
$2.1m 12t2024 12t2025
-t
lV. Gompany lnformation
Description of the Company Year Established
Heavy equipment rental 2018
NAICS Codel NAICS Code Description
532412 Construction, Mining, and Forestry Machinery and Equipment Rental and
Leasing
Annual Sales Annual Sales in Odessa2
$4.986m $1.57
Proiected lncrease in sales Proiected lncrease in Odessa sales
$1.1rn 5 Vear: $12.5M increase $1m 5 Year: $3.88M increase
Financial & Supplier References !-enqth of time applicant commits to Odessa
lndustrial Air, Bryant Coppage This would be a long-term build, planned permanent
headquarters.
American Momentum
Greg Simmons
Lonestar State Bank
Thomas Blackstone
Notes
1. ]{AICS Gode: North American lndustrial Classification Code. The NAICS manual is available
for use at the Chamber.
2. A,nnual Sales in Odessa: Estimated sales to Odessa customers. lf the company has no
Odessa customers, enter "none."
4
Vl. Economic Development Assistance Request(s)
Financial Assistance Grant Requested from odessa Development corp. ($$ Amount)
$636,000
How will this funding be used
To complete the building and purchase euqipment. ****ADDITIONAL USAGE OF FUNDING****
Request amount increased after receiving feedback from lender--American Momentum--
that the loan committee needed to see more strength. Application resubmitted to OCD to
make sure we get lender approval for the project.
Tax Abatement Requested Number of Years of
fronn Taxing Entities
First Year of Abatement
Abatement*
d Yes ! No 2023 5
Other Assistance Requested from C ity Council: Enterprise Zone Sales Tax Rebate
trYes d No
*Abatement Schedr.rle Requested: Please refer
to the City of Odessa Tax Abatement policy
statement to determine the applicable tax abatement schedule, found on page of _
Tax abatements are subject to approvalfrom each taxing entity: City of Odessa, Ector County,
Ector County Hospital District, and Odessa College.
Ector County lndependent School District is excluded from tax abatement by Texas law.
Check list for a Connpleted Application
Iterrrs t - 6 of the printed application, pages 2-6:
il 1. Contact information.
V 2. Surnmary of Project (lncluding detailed description of construction and a
detailed list of machinery, equipment and physical assets.)
d 3. Facility lnformation
W 4" Cornpany lnformation
V 5. Employrnent lnformation to include list of current W-2 employees and
list of new W-2 employees expected to be created.
V 6. Request for Economic Development Grant and/or Tax Abatement and/or
Entenprise Zone City Sales Tax Rebate
6
Items to he Submitted by Applicant Existing Enterprise Only
V 7. Business Plan, to include Pro Forma financial statement, cash flow forecast
and supporting assumptions.
V 8. Prior 2 years and current Year-To-Date financial statements,
to include Balance Sheets and Statements of lncome & Expenses, and
Gurrent Receivable Aging Report.
Audited financial information is preferred, if availahle.
v 9. lncome Tax Returns for prior three years.
d 10.ru1R Letter addressing Tax Abatement Minimum Standards (if applicable)
d 11. Resum6 of owner(s) and principal manager(s).
V '12" Persona! financial statement required if an individual owns 20% of the company.
Items to be Suhmitted by Applicant New Enterprise Only
7. Business Plan, to include Pro Forma financial statement, cash flow forecast
and supporting assumptions.
8. Current Year to Date financial statements for all equity owners including
personal financial statement for any individuals and balance sheets and
staten:rents of income and expenses for any entities, and current
receivables aging report
9. lncome Tax Returns for prior three years for all equity owners.
10. Letter addressing Tax Abatement Minimum Standards (if applicable)
11. Resume of owner(s) and principal manager(s).
(: Il]fltgfkt%a- c*,
Applicant's Signature, attesting all information is provided and accurate
This application rnust be filed with the Odessa Chamber of Commerce, Economic Development
Department prior to making public announcement or filing Building Permit with the City. lf you
have questions about this application, please contact the Economic Development Department
at (432) 333-7881.
Reviseci A912912021
7
Get email alerts for Odessa
A daily email when new agendas and minutes are posted.