Odessa Development Corporation

ODESSA DEVELOPMENT CORPORATION MINUTES CITY OF ODESSA, TEXAS December 12, 2024 A regular meeting of the Odessa Development Corporation (ODC) was held on December 12, 2024, at 2:00 p.m. in the Council Chambers, 5th floor, City Hall, 411 W. 8th St, Odessa, Texas. Members present: James Kirk, Melanie Hollmann, David Boutin, Larry Robinson, Gene Chavez, and Ronnie Phillips. Member absent: Tim Harry. Others present: Norma Aguilar, City Secretary; Dan Jones, City Attorney; Kaylie Banda, Finance Director; Richard Morton, Interim City Manager; Christina Buhnerkempe, Legal Assistant; Renee Earls, Chamber of Commerce; Tom Manskey, Chamber of Commerce; Tracy Jones, Chamber of Commerce; Kathi Vaughn, Chamber of Commerce; Chris Walker, Black Chamber of Commerce; Tyler Patton, UTPB-SBDC; Cal Hendrick, Mayor; and others. A quorum being present, Dr. Kirk 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. Presentation to outgoing Board Member Melanie Hollmann. Dr. Kirk expressed appreciation to Ms. Hollmann for her service to the ODC Board and the Compliance Committee. A plaque was presented to her. November 12, 2024 minutes. Motion was made by Mr. Boutin and seconded by Ms. Hollmann to approve the minutes. The motion was approved by unanimous vote. Citizen comments on non-agenda items. None. Contractors’ reports: Economic Development Department, Current Media Partners, Black Chamber of Commerce, UTPB-America’s SBDC, MOTRAN, City Administrative support, financials, Mr. Manskey reviewed the projects with activity. He discussed a project that would be in West Ector County. He reported on the workforce development. Project Cohort was a project to work with immigrants to become legally capable to work. It was a priority for economic development. Dr. Kirk reported on marketing. He stated that the new logo design was close to completion and the website had new landing pages. New testimonials were completed for marketing. ODC Minutes December 12, 2024 Page 2 Mr. Walker reported that there was 9% growth in followers and 45% increase in website traffic. There was an increase in social media. There were projects that would be sent to the Economic Development and SBDC staff for business expansions. Local food boxes would be distributed for the holidays. Mr. Robinson arrived at 2:20 p.m. Mr. Patton reported on the activity for October and November. There were 357 counseling sessions in November and four new businesses in October. Odessa’s capitalization was $282,400. He reviewed the upcoming workshops that included financial statements, franchise, tools for profit and fraud prevention. Ms. Banda stated that there were no financials due to the City’s network system being down. She provided the sales tax as it was $3,724,872 year to date. Mr. Boutin asked about the TXDOT projects on how it impacted reserves. Ms. Banda reported that $15 million would be set aside for projects and the unreserved had $59 million as of September 2024. ODC Committee and officer reports: Odessa Partnership, Advertising, DOI Grants Design Review Board, Compliance, and Investment Review. There were no committee meeting updates. Resolution No. ODC-2024R-25 – Liberty Oilfield Services, LLC compliance and first annual incentive payment. Mr. Manskey reported that Liberty Oilfield was in compliance from the audit. It spent over $16 million in capital expenditure and there were no current employee requirements. Motion was made by Mr. Boutin and seconded by Ms. Hollmann to approve the resolution. The motion was approved by unanimous vote. Resolution No. ODC-2024R-26 – Support future TxDOT projects. James Beauchamp, MOTRAN, provided the history of the TxDOT project funds designated by ODC. He reviewed the previous and new projects. The leveraging of ODC funds allowed TxDOT to provide more funds to our area and expedited the projects. He stated that Loop 338 was to be developed as a freeway standard. Mr. Beauchamp stated that the order of projects shifted as needed. He explained the order of the projects. Mr. Boutin stated that the accelerated projects would accelerate new businesses, create jobs and capital investment. He supported the funds for the projects. The resolution included an allocation of $3.5 million from the 2017 commitment, commit an additional $15 million for future infrastructure projects and allocate $7.5 million. Motion was made by Mr. Boutin and seconded by Ms. Hollmann to approve the resolution. The motion was approved by unanimous vote Resolution No. ODC-2024R-27 – Liberty Oilfield Services, LLC Performance Agreement addendum. Mr. Manskey stated that the addendum outlined the qualified expenditures. Motion was made by Mr. Boutin and seconded by Mr. Robinson to approve the resolution. The motion was approved by unanimous vote ODC Minutes December 12, 2024 Page 3 Upcoming dates for future ODC Board meetings. Dr. Kirk stated that the next meeting was January 9, 2025 at 2 p.m. Motion was made by Ms. Hollmann and seconded by Mr. Chavez to adjourn the meeting. The motion was approved by unanimous vote. The meeting adjourned at 2:58 p.m. ATTEST: APPROVED: Norma Aguilar, TRMC, CMC James Kirk City Secretary President