CITY CITY OF FAIR OAKS RANCH Wednesday, April 10, 2024 at 4:00 PM MUNICIPAL DEVELOPMENT DISTRICT MEETING RANC PublicSafety Training Room, Police Station, 7286 Dietz Elkhorn, Fair Oaks Ranch MINUTES OPEN MEETING Present: Absent 1. Roll Call- -1 Declaration ofa Quorum. President Laura Koerner, Treasurer Mike Lovelace, Steven Robertson Keith Rhoden, David Fairhurst, and Ruben Olvera Vice President Nicholas DiCianni With a quorum present, the meeting was called to order at 4:00 PM. 2. Pledge of Allegiance - The Pledge of Allegiance was recited in unison. CITIZENS and GUEST FORUM 3. Citizens to be heard - None. CONSENT AGENDA 4. Approval of the January 10, 2024 Regular MDD Board meeting minutes. 5. Approval of the March 27, 2024Special MDD Board meeting minutes. The consent agenda was approved by consensus. REPORTS 6. Quarterly Financial & Investment Report- Q2 FY2024. Summer Fleming, MDD Investment Officer, provided to the Board, the Quarterly Financial & Investment Report for Q2 FY2024 inclusive of answering questions and receiving feedback from the Board on the reports format. CONSIDERATION / ACTION ITEMS 7. Discussion, consideration, and possible action on amendments to the existing Fair Oaks Ranch Municipal Development District Policy forl Evaluation of Development Projects. MOTION Made by Steven Roberston and seconded by Laura Korner, to amend Appendix A of the Fair Oaks Ranch Municipal Development District Policy for Evaluation of Development Projects by changing the' Titlet tol MDD. Eligible Project Category and replacing thet table with' "Thel MDD will considerdevelopment projects as defined inl Local Government Code Chapter 377 and Chapters 505.151-158'andd directing staff to make administrative changes to the policy and correcting references to Appendix A as needed. VOTE: 6-0; Motion Passed. MUNICIPAL DEVELOPMENT DISTRICT MEETINGMINUTES April . 10,2024 8. Discussion, consideration, and possible action on the MDD Funding Application from MDD President, Laura Koerner and MDD Board Member, David Fairhurst, recused themselves from the item due to a conflict ofinterest. Board Member, Steven Robertson, led the discussion. Leon Springs Fire Department. MOTION VOTE: Made by Steven Roberston and seconded by Laura Korner, to approve the MDD Funding Application from Leon Springs Fire Department for a 1,000-gallon mobile tank for an amount not to exceed $12,333.75. 2-2; Motion Failed. Keith Rhoden and Mike Lovelace voted Nay. 9. Discussion, consideration, and possible action on recommendations from the Small The Committee will write a policy, inclusive of a budget, for consideration by the Board at a 10. Discussion, consideration, and possible action on MDD policies, rules, procedures, The Board discussed the policies, who owned the review of each document, and planned to review policies ata ai future meeting. A modified proposed schedulei is attached as ExhibitA. Scope / Small Dollar Subcommittee. future meeting. No action was taken. documentreviews, and committees. ADJOURNMENT President Koerner: adjourned the meeting at 5:481 PM. ATTEST: KeithR Laura Koerner, Kal President MDDI Bes CITY OF FAIR OAKS RANCH, TEXAS Exhibit A Fair Oaks Ranch Municipal Development District Document Review Tracking Log Document Owner Date Adopted Review Cycle Last Reviewed, Next Scheduled Status /Notes Amended, or Reaffirmed updated, reaffirmed October 2022 (amended by vote) April 2022 (last amended by Resolution) LoL5, fact- dodb July-2023 Resolutiony Apre 204 or Required Review Date ofr next required review October 2024 Name of policy Financial Management Policy Boardmember responsible for the policy Treasurer Date first adopted As stipulated inj policy, or Date last reviewed, default (biannually) November 2013 Every 2 years (by resolution) (stated in policy) Requires Resolution? Investment Policy Treasurer November 2013 Annually confirmed October 2022(by Qctober2023 (by resolution) by resolution (per vote) resalwny réview7 Financial Management Policy) bconer 2029 20% y-2025- Bppee-2826 Ockiger 21 October 2024 October 2023 October 2023 MekGMgAAml4 Mperrevesonscheuoed Aprit2024 Consideringt full review July- Overdue for full review Overdue for full review Evaluation of Development Projects Treasurer November 2017 Every 2 years (by resolution) (stated in policy) (reaffirmed.by Rules of Procedure Board President October 2021 Every 2 years Interlocal Agreement Board President October 2021 Every 2 years (replaced By-Laws) between MDD and City of Fair Oaks Ranch Policy Review Procedure (by vote) (by vote) (default) (default) Secretary October 2021 Every 2 years (by vote) October 2023 Overdue for full review (default) roueug