BUDA Economic Development Corporation MEETING MINUTES 11.18.24 CALLTOORDER ROLLCALL President Celeste Medulla called the meeting to order at 6:00 pm. 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 of Entrepreneurial Initiative Shannon Frost, Business Engagement Manager Jacqueline Martinez, Marketing Communication Manager Trae Garcia, Sr. Administrative Associate Shannon Cameron, and EDC General Counsel Josh Brockman Weber. PUBLIC COMMENIS/PUBLICTESTIMONY NONE PUBLICHEARING 4.1 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. Brooklyn's Down South $2107.63. Building Improvements; 2. Embrace the Grind $7500. Equipment & Software; 3. Shred512 Fitness $5000. Building improvements; 4. Stagecoach Pharmacy $5000. Building Improvements; 6. Get Right, Get Tight Fitness $589. Workforce & Training. 5. Buda Bikes $1000. Equipment; Opened public hearing at 6:02 pm; seeing none. Closed at 6: 02 pm. 4.2Large Business Incentives - Qualified financial incentives to US Foods, Inc. (Project Husky) not to exceed One Million Five Hundred Thousand and No/100. Dollars ($1,500,000.00) over a ten-year incentive period in exchange for economic development obligations to the City and EDC to make certain capital investments and the creation and maintenance of165 new jobs. Opened public hearing at 6:03 pm; seeing none. Closed at 6:03 pm. 4.3 Future Land Improvement Program (FLIP) - The Lively, LLC and Michelle and Erin Romeo (Project Ruby) ( Qualified Financial Incentives not to exceed $250,000.00 in exchange for economic development obligations to the Buda EDC. Opened public hearing at 6:04 pm; seeing none. Closed at 6:04 pm. 4.4 Large Incentive - Qualified financial incentives to 108 N. Main St., LLC and Matt Carver in an amount not toe exceed $130,000.00 in exchange for economic development obligations to the Buda EDC. Opened public hearing at 6:04 pm; seeing none. Closed 6:04 pm. STAFF REPORT (1) CEO Report was presented by Jennifer Storm reviewing EDC activities oft the last month. (2) Staff Report on monthly Buda EDC marketing activities was presented by Jennifer Storm and introduction (3) Staff Report on monthly business retention and expansion (BRE) activities was presented by Jacquie (4) Staff Report on monthly commercial development activities was provided along with an update on ofTrae Garcia as the new. EDC Marketing Communication Manager. Martinez. entrepreneurial initiatives. CONSENT AGENDA PUBLICIESTIMON 6.1 Approval of the September 2024 Financial Report. 6.2 Approval of the September 2024 and Quarterly Meeder Investment Report. 6.3. Approval of the October 7,2024, Regular Board Meeting Minutes. 6.4A Approval of reclassification of $25,000 for fiscal year budget 2024-2025 from Professional Services to Repair and Maintenance in EDC department 4124 designated for the incubator/307 San Marcos Street. Motion, to approve the Consent Agenda, as presented, was by Member Jim Niemie and seconded by Member Matt Smith. Motion carried unanimously. GENERAL. AGENDA ITEMS 7.1 LEAP. - Local Enterprise Assistance Program: Approval of 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. Brooklyn's Down South $2107.63. Building Improvements; 2. Embrace the Grind $7500. Equipment & Software; 3. Shred512 Fitness $5000. Building Improvements; 4. Stagecoach Pharmacy $5000. Building Improvements; 6. Get Right, Get Tight Fitness $589. Workforce & Training. Background information was provided by Jennifer Storm and Jacquie Martinez. 5. Buda Bikes $1000. Equipment; Motion, to approve was made by Member Jim Niemie and seconded by Member Betsy Urban. Motion carried unanimously. 7.2 Approval ofal budget amendment to roll over FY 2024 funds allocated for Small Business Incentives and Renovation of307 San Marcos in the amount ofapproximately $132,214 to the FY 2025 budget for payment. Item history was reviewed by Buda EDC CEO Jennifer Storm. Motion, to approve was made by Member Matt Smith and seconded by Member Megan Brown. Motion carried unanimously. None. ITEMSOF COMMUNITY INTEREST EXECUTIVE SESSION the following: At 6:39 pm, members convened in executive session pursuant to the Texas Government Code, Chapter 551, to deliberate 9.1 Gov'tCode! Sec. 551.072. Deliberation regarding real property Project Old School. 9.2 Gov't Code Sec. 551.087 and Sec. 551.071 - Economic Development Negotiations and Consultation with attorney regarding performance agreement obligations; 1. Project Husky (US Foods, Inc.) 2. Project Homestyle 3. Project San Antonio 4. Project Ruby (The Lively, LLC) 5. 108 NI Main St., LLC. interest concerns. RECONVENE Betsy Urban and Julia Davis were not present during the discussion for Project San Antonio based on conflict of At 8:58 pm, open session was reconvened, and the following actions were taken: 10.1 Approval ofa Chapter 380 Economic Development and Performance Agreement with US Foods, Inc. (Project Husky) authorizing a project toj provide financial incentives not to exceed One Million Five Hundred Thousand and No/100 Dollars (S1,500,000.00) over a ten-year incentive period in exchange for economic development obligations to the City and Buda EDC to make certain capital investments and the Motion, to approve as presented, was made by Member Matt Smith and seconded by Member Jim Niemie. 10.2 Approval of a performance agreement regarding The Lively, LLC: and Michelle Romeo and Erin Romeo (Project Ruby) and authorizing a project to provide financial incentives in reimbursements not to Motion, to approve based on discussion from Executive Session, was made by Member Evan Ture and 10.3 Approval of an amendment to the Performance Agreement with Robertsons Land Development, creation and maintenance of165 new jobs. Motion carried unanimously. exceed $250,000.00 in exchange for economic obligations to the Buda EDC. seconded by Member Matt Smith. Motion carried unanimously. LLC and Brooklyn Robertson related to a utility easement. Motion, to approve based on EDC General Counsel recommendations, was made by Member Evan Ture and 10.4 Approval ofa performance agreement with 108 N. Main St., LLC and Matt Carver and authorizing ap project to provide financial incentives not to exceed $130,000.00 in exchange for economic development Motion, to approve as presented, was made by Member Matt Smith and seconded by Member Jim Niemie. seconded' by Member Matt Smith. Motion carried unanimously. obligations to the Buda EDC. Motion carried unanimously. FUTURE AGENDAI ITEMS None. ADJOURNMENT There being no further business, the meeting was adjourned by President Celeste Medulla at 9:05 pm. 1,4 the undersigned authority, hereby certify that this meeting's minutes consist ofthe preceding Minute Record and the Supplemental Minute Record (fapplicable). ATTEST: Ahtoinulh Celeste Medulla, President sllsan Betsy Urban, Seretary/Treasurer