Odessa Development Corporation

ODESSA DEVELOPMENT CORPORATION MINUTES CITY OF ODESSA, TEXAS October 21, 2024 A special meeting of the Odessa Development Corporation (ODC) was held on October 21, 2024, at 1:01 p.m. in the Council Chambers, 5th floor, City Hall, 411 W. 8th St. Odessa, Texas. Members present: Larry Robinson, Gene Chavez, Tim Harry, James Kirk and Melanie Hollmann. Members absent: David Boutin. Others present: Dan Jones, City Attorney; Christina Buhnerkempe, Legal Assistant; Rebecca Muniz, Legal Assistant; John Beckmeyer, City Manager; Stephanie Garay, Deputy City Secretary; Steve Thompson, Council member; Kaylie Banda, Director of Finance; Tom Manskey, Office of Economic Development; Tracy Jones, Office of Economic Development; Lindsey Simpkins, Office of Economic Development and Tom Glassman, DJK Inc. Others: other interested citizens. A quorum being present, Dr. Kirk called the meeting to order, and the following proceedings were held: Mr. Robinson gave the invocation. The Pledge of Allegiance and Texas Pledge were recited. DJK, Inc. Performance agreement for New Road 4 and Mission Boulevard improvements. Mr. Mansky discussed the agreement. Mr. Beckmeyer answered questions regarding the map presented. FOR THE RECORD: Ms. Hollmann abstained from all conversation due to her law firm working with DJK, Inc. Public Participation: Jeff Russell and Tom Glassman. ODC Special Meeting October 21, 2024 Page 2 Motion was made by Mr. Robinson to table the agreement with DJK, Inc. for New Road 4 and Mission Boulevard improvements. There was no second, the motion failed for lack of second. Motion was made by Mr. Harry to approve the agreement with DJK, Inc. for New Road 4 and Mission Boulevard improvements. Dr. Kirk was the second. The motion was approved 3-1 with Mr. Robinson voting no and Ms. Hollmann abstaining. Establish an ad hoc Investment Review Committee. Motion was made by Ms. Hollmann to nominate Members Chavez and Boutin to the ad hoc investment review committee. Mr. Harry was the second. The motion was approved by unanimous vote. MOU with Clean Refineries Inc. for the purpose of developing a net-zero emissions hydrocarbon processing facility in Odessa, Texas. Mr. Mansky discussed the MOU with Clean Refineries Inc. Motion was made by Ms. Hollmann to approve the MOU with Clean Refineries Inc. with the following two revisions: add “non-binding” before memo of understanding; change language “tract of land will be within city limits” to read “within Ector County” and send back to the potential partner and bring back as amended for reconsideration. Mr. Robinson was the second. The motion was approved by unanimous vote. Citizens comments on non-agenda items. None. Convene into Executive Session: As authorized by the Texas Government Code Sec. 551.072 (Deliberation regarding real property), the ODC Board may adjourn into executive session to: Deliberate the purchase, exchange, lease, or value of real property if deliberation in an open meeting would have a detrimental effect on the position of the governmental body in negotiations with a third person regarding Project Logical Location. Motion was made by Mr. Harry to go into Executive Session: As authorized by the Texas Government Code Sec. 551.072 (Deliberation regarding real property), the ODC Board may adjourn into executive session to: Deliberate the purchase, exchange, lease, or value of real property if deliberation in an open meeting would have a detrimental effect on the position of the governmental body in negotiations with a third person regarding Project Logical Location. Ms. Hollmann was the second. The motion was approved by unanimous vote. Dr. Kirk stated no action was taken in Executive Session. Reconvene in open session. Motion was made by Mr. Harry to reconvene in open session. Ms. Hollmann was the second. The motion was approved by unanimous vote. ODC Special Meeting October 21, 2024 Page 3 Tabled: Agreement for sale and purchase of property located at 3215 W. Murphy Street to be used as an inland port. Motion was made by Ms. Hollmann that Tom Mansky connect directly with the bankruptcy trustee that was party to the Performance Services Agreement (PSA), that he indicate the trustee that all future communications on behalf of ODC will go through him, that Mr. Mansky connect with Jeff Moore, ODC attorney, and ask for red line changes to the proposed PSA including but not necessarily limited to changes regarding the earnest money deposit and its refundability, and that ODC wants all or substantially all of the deposit to be refundable if ODC does not close on the purchase of the property for any reason, ODC was open to discussion as a board, as to a portion of that deposit that could be non-refundable as a good faith show of ODC’s intention to move forward with the deal provided that it was an appropriate deal. ODC wanted Mr. Moore to address the length of the feasibility period that it be long enough to be able to conduct all of the due diligence that ODC felt is necessary including obtaining a survey, appraisal and appropriate environmental reviews of the property. Also, that Mr. Moore review and advise ODC of any other changes that he thinks were appropriate for ODC to discuss at the next November meeting. Ms. Hollmann further moved that ODC table this item, pending all of the above. Mr. Robinson was the second. The motion was approved by unanimous vote. Motion was made by Ms. Hollmann and seconded by Mr. Harry to adjourn the meeting. The motion was approved by unanimous vote. The meeting was adjourned at 3:05 p.m. ATTEST: APPROVED: Stephanie Garay James Kirk Deputy City Secretary President