CALLED MEETING OF BOARD OF DIRECTORS OF CANTON ECONOMIC DEVELOPMENT CORPORATION (CEDC) 5:30 P.M., TUESDAY, JULY1 14, 2020 CANTON CITY HALL, CITY COUNCIL CHAMBERS 201 N. BUFFALO STREET, CANTON, TEXAS  MINUTES  The Board of Directors of the Canton Economic Development Corporation (CEDC) attended a called meeting at the above mentioned date and time. CEDC board members present included: President John McKeehan, 1st Vice President Kevin Deibert, 2nd Vice President Rhita Koches, Larry Morgan, Gary Hatfield, DeAnne Callan and Joe Zoubi, Executive Director Julie Seymore and CEDC Asst. Director Stacy Crossley, Austin Melton and Tam Erwin. Not in attendance was 1. Call to Order and Announce a Quorum - President John McKeehan called the meeting  ex- officio members Mayor Lou Ann Everett and Lonny Cluck. to order at 5:30 p.m. and announced a quorum present. 2. Invocation - Given by Kevin Deibert 3. Pledge of Allegiance - Led by John McKeehan 4. Declarations Regarding Conflicts of Interest - None  5. Discussion and Action Authorizing Certain Financial Assistance up to $5,000.00 each for Businesses Located within the City of Canton, Texas Who Have been Significantly Impacted by COVID-19 Restrictions - No new applications; no action Work Session on FY2020-2 2021 Proposed Budget, Programs and Projects - The CEDC revenue budgetincluded $960,000 in Sales Tax and $9,000 in interest income. A 5% increase was proposed for salaries with 2% for cost of living and 3% for salary adjustments for staff members being paid less than the average wage indicated in area salary survey. Office supplies, contractual expenses, and other operating expenditures remained about the same as the current year. The marketing budget was increasing due to the board's approval of participation in the Northeast Texas Economic Alliance. It also included $30,000 to help with the City's First Monday Marketing contract--the same level as in the current year. Staff reviewed agreement and project commitments, including $50,000 for the downtown sidewalk project, $250,000 for the TxDOT water line project, $100,000 for redevelopment of the downtown district, $20,000 for Main Street Façade Improvement Grants. Ms. Seymore noted $1.35 million was proposed to come out of the fund balance and included two projects currently being negotiated. The board was good with the proposed budgeti for CEDC except they recommended removing the large prospective The board then reviewed the proposed budget for CVB. It was a balanced budget and included a $20,000 reduction hotel occupancy tax revenues and $20,000 reduction in funds from the City's First Monday department due to COVID-19 travel interruption. A 5% salary increase was proposed reflecting that in the CEDC budget. $2,000 was budgeted for a community project to help with the Christmas lighting on the courthouse lawn. Special events were reviewed with no notable changes. Mr. Melton reviewed the marketing plan which was similar to the current year except for a  project until it was settled.    $40,000 decrease in internet ad buys promoting First Monday. The board was good Main Street Budget included $62,250 in revenue and $62,200 in expenses. Sources offunding were Main Street events, $20,000 from CEDC to pay for Downtown Façade Improvement Grants, $2000 from CEDC for Autumn Festival Sponsorship and $5,000 from CVB for live music. Main Street projects included $8,000 for beautification, $6,000 for Christmas Lighting, $5,000 for banners and building top lights and $1900 for historical markers or plaques. The Board was good with the projects and proposed When necessary and warranted, a closed or executive session will follow pursuant tot the provision of the Texas Open Meetings Act, Chapter 551 of the Texas The board convened in closed session at 6:26 p.m. to discuss the following:  with the proposed budget  plans.  Government Code, Section 551.087 and 551.072.  6. Executive Session:  A. Section 551.087 -1 to deliberate commercial or financial information the CEDC has received from a business prospect, and to deliberate the offer of a financial or other incentive to business prospects, including butr notl limited to Phoenix Food, LLC, Sweet Teas Cookies, LLC, a mixed-use development project, a local business retention and expansion project, a local capital investment project, a downtown retail rent subsidy prospect, and recruitment of new commercial, industrial, retail, restaurant, hospitality, B. Section 551.072 - to discuss or deliberate regarding the potential purchase, sale, The Board reconvened in open session at 6:37 p.m. with no action taken. 7. Items for Future Agendas = Ms. Seymore announced July 28th would be the next meeting fort the budget, aj public hearing and vote ont the budget would occur on August 8. Adjourn - The meeting was adjourned at 6:38 p.m. upon motion by Larry Morgan and  and family entertainment prospects. exchange, lease or value of real property  25, and Council would vote on its approval September 1st.  second by Kevin Deibert.  Johh  President  AKRKL T.McKeehan II,  ATTEST: Stacy Crossley,