BUDA Economic Development Corporation MEETING MINUTES  10.7.24  CALLTOORDER ROLLCALL  President Celeste Medulla called the meeting to order at 6:02pm. A quorum was achieved with the following board members present:  President Celeste Medulla Vice President Jim Niemie Secretary/Ireasurer Betsy Urban Board Member Evan Ture Board Member Julia Davis Board Member Matt Smith Board Member Megan Brown  Buda EDC Staff in attendance included CEO. Jennifer Storm, Assistant Director Brian Dyer, Business Engagement Manager Jacqueline Martinez, Sr. Administrative Associate Shannon  Cameron, and EDC Attorney Josh Brockman Weber. PUBLIC COMMENTSPUBLICTESTIMONY  NONE  PUBLICI HEARING  Item 4.11 LEAP-Local Enterprise Assistance Program:  Discussion and possible action to authorize performance agreements and economic development incentives in an amount not to exceed Ten Thousand Dollars ($10,000.00) each with the following businesses in exchange for economic development obligations to the Buda EDC:  1. Food Relationship LLC (Goti:s)-s4,042.80 2. The Mercantile at Mill & Grain -$6,400 3. Fresh Face Aesthetics-53,923 4. Buda's Red Door-$1,200 5. Sunfield Hand Pies-$1,400    6. Keeper's Harvest - $5,500 7. Tiny House Roasters - $5,000 8. Austin Angels-$ $10,000 9. Rupert & Associates $10,000 10. Mosstique, LLC-$3,151  Opened public hearing at 6:05 pm, seeing none. Closed at 6:05 pm. Item 4.2 Deliberation and possible action to approve a Buda Economic Development Corporation (BEDC) budget amendment authorizing additional expenditures in the 2024-2025 Fiscal Year budget for 307 San Marcos Street not to exceed Ninety Thousand Dollars  ($90,000.00) for renovation. PRESENTATION  Opened public hearing at 6:06 pm, seeing none. Closed at 6:06 pm  Madison Neil from Retail Strategies reviewed current work and programs fori retail location recruitment efforts and interest in Buda. Discussion surrounding destination retail, franchisee minimum requirements for matching opportunities to local entrepreneurs, and the type of retail  opportunities ofi interest to match with Buda.  STAFF REPORT  (1) CEO Report was presented by Jennifer Storm reviewing EDC activities of the last month. (2) Staff Report on monthly Buda EDC marketing activities was not covered as Sarah Hill was (3) Jacquie Martinez presented Staff Report on monthly business retention and expansion (BRE)  ill. activities.  CONSENT AGENDA PUBLICTESTIMONY, 7.1 Approval of the August 2024 Financial Report. 7.2 Approval of the August 2024 Meeder Investment Report. 7.3 Approval of the September 9, 2024, Regular Board Meeting Minutes. 7.4 Approval of changing the regular board meeting date from November 4, 2024, to Motion, to approve the Consent Agenda, as presented, was by Member Evan Ture and seconded  November 18, 2024, at 6pm.  by Member Jim Niemie. Motion carried unanimously.  EXECUTIVE SESSION  At 7:01 pm, members convened in executive session pursuant to the Texas Government Code,  Chapter 551,to deliberate the following:    8.1 Gov't Code Sec. 551.072-1 Deliberation regarding real property - Project Old School. 8.2 Gov't Code Sec. 551.087- Consultation with attomey regarding economic development 8.3 Gov'tCode Sec. 551.071 (2) - Consultation with attorney regarding LEAP program language,  negotiations- Project San Antonio.  eligibility requirements under state law, and performance agreements. Regular Session resumed at 8:52 pm with the following action:  Executive Session was concluded at 8:49 pm.  8.1 Gov'to Code Sec. 551.072- - Deliberation regarding real property - Project Old School. Approval of President Celeste Medulla to sign a letter of intent for Project Old School to enter Motion was made by President Celeste Medulla and seconded by Member Evan Ture. Motion 8.2 Gov't Code Sec. 551.087- Consultation with attorey regarding economic development  into due diligence. carried unanimously.  negotiations - Project San Antonio.  No action taken.  8.3 Gov't Code Sec. 551.071 (2)- Consultation with attorney regarding LEAP program language,  eligibility requirements under: state law, and performance agreements.  Addressed during general agenda item 9.1. GENERAL. AGENDA ITEMS Assistance Program (LEAP).  9.1 Approval of an amendment to the program documents for the Local Enterprise Motion, to approve with the direction given to staff from executive session, was made by Member Celeste Medulla and seconded by Member Jim Niemie. Motion carried unanimously. 9.2LEAP-Local. Enterprise Assistance Program Discussion and possible action to authorize performance agreements and economic development incentives in an amount not to exceed Ten Thousand Dollars ($10,000.00) each with the following businesses in exchange for economic  development obligations to the Buda EDC: 1. Food Relationship LLC (Gotis)-$4,042.80 2. The Mercantile at Mill & Grain - $6,400 3. Fresh Face Aesthetics-$3,923 4. Buda's Red Door-$1,200 5. Sunfield Hand Pies-$1,400 6.1 Keeper's Harvest $5,500 7.1 Tiny House Roasters - $5,000    8. Austin Angels - $10,000 9.1 Rupert & Associates- - $10,000 10. Mosstique, LLC-$3,151  Public comment was heard from the CEO of National Angels (Austin Angels), Susan Ramirez, 504 Leisure Woods Drive, Buda TX reviewing their work, the planned building construction and Motion, to approve the slate with the removal of 8. Austin Angels - $10,000 with direction to staff to prepare a marketing agreement to be brought at ai future meeting, was made by Member Celeste Medulla and seconded by Member Matt Niemie. Motion carried 9.3 Approval of a Buda Economic Development Corporation (BEDC) budget amendment authorizing additional expenditures in the 2024-2025 Fiscal Year budget for 307 San Marcos Street not to exceed Ninety Thousand Dollars ($90,000.00) for renovation. Motion, to approve as presented, was made by Member Jim Niemie and seconded by Member 9.4. Approval of a Buda Economic Development Corporation (BEDC) budget amendment authorizing additional expenditures in the 2024-2025 Fiscal Year budget for certain targeted infrastructure improvements with the City of Buda for the construction of water and wastewater lines to serve businesses on FM 2770 in the amount of Five Hundred Forty Jennifer Storm reviewed background information on Project Nest, restating that the Memorandum of Understanding was approved at the prior Board meeting and this action is simply to authorize the budget amendment for the design fee funding. Motion, to approve as presented, was made by Member Matt Smith and seconded by Member 9.5 Approval of al Buda Economic Development Corporation (BEDC) budget amendment for South Loop 4 Wastewater Project in the amount not to exceed Three-Hundred Twenty- Eight' Thousand Dollars ($328,000.00) to bel held in a reserve/restricted fund. Jennifer Storm reviewed the history of this project and the need to add this to the budget. The matched funds had not yet been paid to the City of Buda, which needs to complete the work first. Motion, to approve as presented, was made by Member Celeste Medulla and seconded by 9.6. Approval of a reclassification of $50,000 for fiscal year budget 2024-2025 from Capital Outlay - Parsonage to Small ToalgupmetPumare in EDC department 4124  LEAP incentive request details.  unanimously.  Celeste Medulla. Motion carried unanimously.  Thousand Dollars ($540,000.00).  Jim Niemie. Motion carried unanimously.  Member Evan Ture. Motion carried unanimously.  designated for the incubator/307 San Marcos Street.        Motion, to approve as presented, was made by Member Matt Smith and seconded by Member 9.7 Discussion and possible action authorizing an agreement between the Buda Economic Development Corporation and Live Oak Public Finance, LLC for Financial Advisory Services Jennifer Storm stated this item is premature in nature and no action needed to be taken at this time. Member Matt Smith motioned to table this item and Member Evan Ture seconded. All  Jim Niemie. Motion carried unanimously.  and all matters related thereto.  approved. NONE  ITEMS OF COMMUNITY INTEREST  FUTURE AGENDA ITEMS ADJOURNMENT  There being no further business, the meeting was adjourned by President Celeste Medulla at 9:26 11 the undersigned authority, hereby certify that this meeting's minutes consist of the preceding Minute Record and the Supplemental Minute Record (f applicable).  pm.  ATTEST:  Ahannik  Celeste Medulla, President  BsalleaNs Betsy Urban, Serelary/Treasurer