MINUTES CRANDALL ECONOMIC DEVELOPMENT CORPORATION CITY OF CRANDALL, TEXAS Crandall EDC Conference Room - 114 South Main Street - Crandall, Texas Tuesday - November 19, 2024 at 4:00 p.m. REGULAR BOARD OF DIRECTORS MEETING 1. Call to Order 2. Invocation 3. Roll Call President Cody Frazier called the meeting to order at 6:05pm Invocation given by Danny Kirbie President: Cody Frazier Member: Jason Hathaway Member: Jon Capps 4. Public Comment 5. Director's Report P Vice President: Danny Kirbie P Member: Cortney Heinisch P CEDC Staff: Mike Slye P P P Sec./Treasurer: Rebekah Eskridge P Member: VACANT No citizen comments were made. A. Monthly Activities i. Developer Meetings ii. Office Move Mr. Slye reported on many formal/nformal developer meeting this New Office wing nearing completion. Current plan is for CEDC to occupy new wing with a possibility of hiring an Administrative Assistant full-time and sharing duties with the Crandall Chamber of Both CEDC BOD and Crandall City Council approved the Economic Incentive and Performance Agreement : still working on getting Annual event scheduled for February 16-17. CEDC BOD requested month : no time forexteral recruiting efforts Commerce iii. Project Launch Update final signatures from all parties iv. Kaufman County Days to RSVP to Mr. Slye to get registered. 6. Financial Report A. October 2024 Financial Report BOD approved motion unanimously October financials were reported and discussed. Director Capp motioned to approve October 2024 financial report, Director Heinisch seconded 7. City Manager's Report Surveyingi is underwayt for our Mowry/Main road and drainage project to alleviate flooding int this area 116 Main officer renovations are near complete and believe moving the EDC office tot this suite best aligns Phase 1 of thev wastewater expansion update: Easements are being surveyed for land: acquisition. with the City and EDC's growth strategies The cityi is applyingf for a CDBG grant focused on publici infrastructure. FY23 Auditi is complete (al binder will ber made availablet for review) Consent Agenda 8. Approval of the Minutes October 8, 2024 Director Heinisch made a motion to accept the Minutes. Director Eskridge seconded the motion. BOD approved motion unanimously Regular Agenda 9. Debt Model Presentation - Jim Sabonis, Hilltop Securities Mr. Slye presented an updated Debt Model using current conservative assumptions given the recent actions to approve Project Launch and ongoing 10. General Discussion and Deliberation concerning the need for a future Mr. Slye reminded the BOD that there was a public meeting at 6pm to solicit strategic comments related to EDC. Once the city's Comprehensive Plan is completed, further discussion to refine' and make more specific Strategic Planning efforts would be worthy of future discussion and possible action. actions related to Project Cox. Strategic Plan activity. Executive Session 11. 551.072 DELIBERATION REGARDING REAL PROPERTY NEGOTIATIONS; 12. 551.072 DELIBERATION REGARDING ECONOMIC DEVELOPMENT NEGOTIATIONS; CLOSED MEETING. (1) To discuss or deliberate regarding commercial or financial information that the governmental body has received from al business prospect that the governmental body seeks to have locate, stay, or expand in or near the territory of the governmental body and with which the governmental CLOSED MEETING. 2 body is conducting economic development negotiations; or (2) to deliberate the offer ofa financial or other incentive to business prospects: A. Project Cox B. Project HOT C.P Project Hampton 13. Section 551.074. PERSONNEL MATTERS; CLOSED MEETING. (1) To deliberate the appointment, employment, evaluation, reassignment, duties, discipline, or dismissal ofaj public officer or employee: Board of Directors memberapplication. 14. Adjourn from Executive Session 15. Take any and all actions required related to the Executive Session Motion made by Director Capp, seconded by Director Eskridge to recommend approval of Candidate Brant Bennett to be appointed to the current vacant director position to the Crandall EDC. BOD approved motion unanimously. 16. Future Agenda Items January 2025 Director Capp requested a review and discussion of the EDC Financial Policy in President Frazier requested a discussion of hiring an Administrative Assistant to compliment the office move and assist Chamber of Commerce 17. Adjournment- Adjoumed 6:12pm Respectfully submitted: Rebekah Eskridge, PLG Gb 3