Odessa Development Corporation

ODESSA DEVELOPMENT CORPORATION MINUTES CITY OF ODESSA, TEXAS March 13, 2025 A regular meeting of the Odessa Development Corporation (ODC) was held on March 13, 2025, at 3:00 p.m. in the Council Chambers, 5th floor, City Hall, 411 W. 8th St, Odessa, Texas. Members present: David Boutin, Ronnie Phillips, Peggy Dean, Gaven Norris, Thomas Blackstone, and Blake Neatherlin. Member absent: Tim Edgmon. Others present: Norma Aguilar, City Secretary; Dan Jones, City Attorney; Kaylie Banda, Finance Director; Christina Buhnerkempe, Legal Assistant; Renee Earls, Chamber of Commerce; Tracy Jones, Chamber of Commerce; Kathi Vaughn, Chamber of Commerce; Chris Walker, Black Chamber of Commerce; James Beauchamp, MOTRAN Executive Director; Tyler Patton, UTPB-SBDC; Christi Callicoatte, Current Media Partners; Brian Green, Compliance Committee; and others. A quorum being present, Mr. Boutin called the meeting to order, and the following proceedings were held: Ms. Dean gave the invocation. The Pledge of Allegiance and Texas Pledge were recited. February 13, 2025 minutes. Motion was made by Ms. Dean and seconded by Mr. Phillips 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, Ms. Jones summarized the Economic Development’s projects. Mrs. Callicoatte reviewed information on the website, the Native campaign, lead forensics and testimonial videos. She presented the new ODC logo. She explained the analytics and how it was used. Ms. Dean asked for a monthly chart to be included in the report for comparison. Mr. Walker reported on the Black Chamber of Commerce’s activities. He stated counseling sessions had increased and the membership was growing He reported on the projects including the food boxes. Mr. Patton reported on the activity for SBDC. He stated that there were a lot of changes and some of the workshops were postponed but the core services remained the same. He reviewed the next three months of workshops. The annual report was highlighted. ODC Minutes March 13, 2025 Page 2 Mr. Beauchamp stated that MOTRAN was working for projects for the legislature. He reviewed the severance levels by counties and the timeline for the IH 14N/27W. Ms. Banda reviewed the November financials that included the balance sheet, and the investment summary. ODC Committee and officer reports: Odessa Partnership, Advertising, Compliance, and Investment Review. Mr. Phillips reported on advertising. The website would have information on economic development and infrastructure and façade grants. Ms. Dean stated that the Compliance Committee would be reviewing the matrix. Ms. Banda provided an investment update. She discussed the philosophy for ODC investments. ODC had $93,657,861 and $89,146,342 were liquid funds. She provided investment opportunities that was diversified and reviewed the rates. Mr. Blackstone asked about the security of the funds. Mr. Boutin stated that diversifying the investments would provide for better rates. Ms. Dean asked for the updated and current information to be sent to the members. Amend the UTPB grant award for the SAS analytics project. The item was postponed. Resolution No. ODC-2025R-06 – Delaware Building, LLC performance agreement for building façade improvements. Mr. Green reported that the Delaware Building was located at 407 W. 2nd St. The cost was $68,323.54 and work has been done. The Compliance Committee recommended a $25,000 grant. Ben Quiroz explained the improvements made to the building. Motion was made by Ms. Dean and seconded by Mr. Norris to approve the resolution. The motion was approved by unanimous vote. Resolution No. ODC-2025R-07 – Premier Business Supplies performance agreement. Mr. Green stated that Premier fabricated steel products. Seventeen jobs would be added with an annual payroll of $905,000. The capital investment was $2 million. The Compliance Committee recommended a grant of $275,550 over five years if it met compliance. Motion was made by Ms. Dean and seconded by Mr. Phillips to approve the resolution with the modification of adding equipment to the third whereas to the resolution. The motion was approved by unanimous vote Resolution No. ODC-2025R-08 – Orrex Plastics addendum performance agreement. Mrs. Buhnerkempe stated that the addendum to the agreement would provide for approving ODC’s intent when approved, 50% up front grant and the remainder of the grant over four years. Mr. Blackstone wanted to have any amended documents to review before it was presented at the meetings. Motion was made by Mr. Blackstone and seconded by Ms. Dean to approve the resolution. The motion was approved by unanimous vote. ODC Minutes March 13, 2025 Page 3 Appoint a board member to serve on the MOTRAN Board of Directors representing ODC. Mr. Norris would serve on the MOTRAN Board of Directors. Upcoming dates for future ODC board meetings. The next meeting was April 10, 2025 at 3 p.m. Mr. Boutin requested an April 3 special ODC meeting to review projects. Motion was made by Mr. Blackstone and seconded by Mr. Neatherlin to adjourn the meeting. The motion was approved by unanimous vote. The meeting adjourned at 5:04 p.m. ATTEST: APPROVED: Norma Aguilar, TRMC, CMC David Boutin City Secretary President