4B Development Corporation Regular Meeting

4B DEVELOPMENT CORPORATION MEETING MINUTES MAY 29, 2025, 6:00 PM 4B DEVELOPMENT CORPORATION REGULAR MEETING DEVELOPMENT SERVICES BUILDING - 201 BOLIVAR STREET, SANGER, TEXAS 76266 CALL THE REGULAR MEETING TO ORDER AND ESTABLISH A QUORUM As there was a quorum John Payne called the meeting to order at 6:02 p.m. BOARD MEMBERS PRESENT Board Member, Place 1 Lee Allison Board Member, Place 2 John Payne Board Member, Place 4 Beverly Howard Board Member, Place 6 Eddie Piercy Board Member, Place 7 Carrie Bilyeu BOARD MEMBERS ABSENT Board Member, Place 3 Matt Fuller Board Member, Place 5 Jeff Springer STAFF MEMBERS PRESENT Director of Economic Development Shani Bradshaw, and Secretary Shelley Warner INVOCATION AND PLEDGE Invocation and pledge were led by Board Member Howard. CITIZENS COMMENTS No citizens came forward to speak. CONSENT AGENDA 1. Consideration 4B minutes from 02/25/2025. Motion to approve the consent agenda as shown was made by Board Member Howard. Seconded by Board Member Piercy. 4B Minutes 05-29-2025 Page 1 of 2  Voting Yea: Board Member Payne, Board Member Allison, and Board Member Bilyeu. The motion passes unanimously. ACTION ITEMS 2. Consideration and possible action on the 4B Fiscal Year 2025-2026 Budget. Board Member Payne read the item. Director Bradshaw presented the item. Comments were made and questions were asked by Board Member Payne, Board Member Piercy, and Board Member Allison. Director Bradshaw responded and addressed questions. Motion to approve the budget, with specific item notes, was made by Board Member Piercy. Seconded by Board Member Howard.  Allocate $1,000,000 for the Tom Thumb agreement.  Show a complete and accurate budge of all expenditures.  Create a line item of $1,000,000 for Porter Park, with the possibility of transferring funds to this account on a quarterly basis, contingent upon the ability to manage such transfers. Additionally, explore opportunities to move these funds into a separate bank account.  Staff will investigate the possibility of establishing a separate bank account to facilitate the transfer of the $1,000.000. Voting Yea: Board Member Payne, Board Member Allison, and Board Member Bilyeu. The motion passes unanimously. REPORTS 3. Financial Reports. Director Bradshaw goes over the financial report. FUTURE AGENDA ITEMS No future items were discussed. ADJOURN As there were no further items on the agenda Board Member Payne adjourned the meeting at 7:07 p.m. 4B Minutes 05-29-2025 Page 2 of 2