STATE OF TEXAS 0 COUNTY OF BURNET 0 On this the 19th day of November 2024, the Burnet Economic Development Corporation of the City of Burnet convened in Regular Session, at 3:00 p.m., at the Burnet City Council Chambers, 2402 S. Water Street, Burnet, with the following members present, to-wit: Board Members: President Cary Johnson, David Vaughn, Philip Thurman, Ricky Langley, Josh Milam, Keith McBurnett, Habib Erkan, Jr. Guests: Marcus Dawes CALL TO ORDER: The meeting was called to order by Board President Cary Johnson at 3:00 p.m. and a quorum was established. CONSENT AGENDA: Approval ofthe August 6, 2024 BEDC Special Meeting Minutes Approval of the September 3. 2024 BEDC Special Meeting Minutes Approval ofthe October 15, 2024 BEDC Regular Meeting Minutes Board Member Keith McBurnett moved to approve the consent agenda as presented. Board Member Philip Thurman seconded. The motion carried unanimously. ACTION ITEMS: Discuss and consider action: Related to the potential sale ofall or portions ofE. Polk Street: Board Member David Vaughn reported that Stephen Maxwell reached out relating to the property with the suggestion of strip center but there has been no further discussion. Additional inquiries have been made on the property but again, nothing that has been firm. No action taken. Discuss and consider action: Related to the potential sale ofall or portions of The Crossings at 281 South Commercial Park: Marcus Dawes, an HTea0 developer, came before the group to inquire about a parcel of land within The Crossings. Mr. Dawes stated that he would prefer a corner lot with highway frontage. HTea0 Corporate is working on a site plan for the exact parcel that the company is interested in as there are various types of floor plans for their businesses. An HTea0 in Burnet would likely be roughly 1,500 square feet and would employ approximately 25 part-time employees. Board Member Habib Erkan made a motion for Mr. Dawes and the HTea0 corporation to draw up a contract to present to the Board. Board Member Ricky Langley seconded the motion. The motion carried unanimously. Board Member David Vaughn reported that a representative from QT has also reached out involving the north side of the property. In addition to the BEDC property, QT would have to acquire the convenience store that is located adjacent to the property. The representative reported that they have been unsuccessful in contacting the store owner. No action taken. Discuss and consider action: Dedication of a drainage easement located within The Crossings at 281 for the Marriot Hotel Project: Board Member David Vaughn stated that TEKMAK is requesting an easement for drainage. This easement will allow the hotel to continue with their permit. Board Member David Vaughn made a motion to approve the drainage easement for the Marriott hotel. Council Member Ricky Langley seconded the motion. The motion passed unanimously. Discuss and consider action: Related to the Coke Street Re-Alignment Project: Board Member David Vaughn advised the Board that TxDOT has remained steadfast that a light will not be installed should the Board proceed with their re-alignment project. However, it was suggested that a roundabout be placed there. The Board deliberated cancelling the project if there will not be a traffic light placed here. No action taken. Discuss and consider action: Assignment of Wedding Oak lease: Board Member David Vaughn informed the Board that the current lease needs to be reassigned to the new owner ofthe building. Board Member Ricky Langley made a motion to reassign the lease. Board Member Keith McBurnett seconded the motion. The motion passed unanimously. Discuss and consider action: Use of proceeds from the sale of the Badger Building and possible early debt payoff: The Board deliberated various options for the proceeds, such as paying off current debt or reinvesting into another restoration. No action was taken. Discuss and consider action: Burnet Community Coalition: None. CONVENE TO EXECUTIVE SESSION: None. The Board of Directors of the Burnet Economic Development Corporation shall convene in executive session to: 4.1) Pursuant to Section 551.072 Texas Government Code deliberate the purchase, exchange, lease, or value of real property in order to minimize the detrimental effect of such discussion in open session on the position of the Board in negotiations with third parties for property located at 236 South Main St., Burnet: D. Vaughn: No action taken. REQUESTS FROM BEDC FOR FUTURE REPORTS: None. ADJOURN: There being no further business, a motion to adjourn was made by Board Member Ricky Langley at 4:59 p.m. and seconded by Board Member Josh Milam. The motion carried unanimously. ATTEST: L d AA Johnson, Président Maria Gonzales, City Secretary- - <1 Bumet Economic Development Corporation PNET P 1