MINUTES CRANDALL ECONOMIC DEVELOPMENT CORPORATION CITY OF CRANDALL, TEXAS Crandall EDC Conference Room 116 South Main Street - Crandall, Texas 75114 Monday = January 13, 2025, at 4:00 p.m. REGULAR BOARD OF DIRECTORS MEETING 1. Call to Order President Cody Frazier called the meeting to order at 4:08 pm 2. Invocation Invocation given by President Cody Frazier 3. Roll Call President: Cody Frazier P Vice President: Danny Kirbie A Sec.Treasurer: Rebekah Eskridge P Member: VACANT Member: Jason Hathaway P Member: Cortney Heinisch P Member: Jon Capps P CEDC Staff: Mike Slye P Citizen Comments: No citizen comments were made. 4. Director's Report A. Monthly Activities i. Developer Meetings Mr. Slye reported on many formal/nformal developer meeting this month & specifically discussed various hotel flags. All flags discussed were conditionally accepted. ii. Kaufman County Days 5. Financial Report A. December 2024 Financial Report i. Fixed Asset Recording Fixed Assets Explained, booked at time of purchase. BOD requested a supplemental schedule depicting the Fixed Asset value VS Current Value be included in future Board meetings. ii. City of Crandall Long-Term Financial Strategy = Utilities December financials were reported and discussed. Director Capps motioned to approve December 2024 financial report, Director Heinisch seconded : . BOD approved motion unanimously. 6. City Manager's Report In the process of acquiring the needed easements for the wastewater force main project Several new development inquiries on large tracts of land within the ETJ that are eligible for voluntary annexation (touch existing city limits) Creating an EDC fund within our ERP reporting system to allow coordination of all financial processes and eliminate the need for outside CPA support. Further discussions with the. JWS team to clarify the proposed 380 agreement with the River Ridge Commercial development (meeting is Friday 1/10) First day to file for name on the May 2025 ballot is 1/15 (Mayor and 2 council member positions) Deputy City Manager, David Sachez started on 12/16. Consent Agenda 7. Approval of the Minutes December 11, 2024 Director Capp made a motion to accept the Minutes. Director Eskridge seconded the motion. BOD approved motion unanimously Regular Agenda 8. Receive the Administrative Assistant Hiring Action Plan and Effective Date. Reviewed the hiring timeline for the Administrative Assistant position Effective date of the hire is February 3, 2025. Executive Session 9. 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 a 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 body is conducting economic development negotiations; or (2) to deliberate the offer of a financial or other incentive to business prospects: A. Project 202501 B. Project 202502 C. Project River Ridge D. Project Cox E. Project HOT 2 10. Section 551.074. PERSONNEL MATTERS; CLOSED MEETING. (1) To deliberate the appointment, employment, evaluation, reassignment, duties, discipline, or dismissal of a public officer or employee: EDC Interim Director Consultant 11. Adjournment from Executive Session Director Heinisch made a motion to adjourn from Executive session, seconded by Director Eskridge at 6:24 pm. BOD approved unanimously. 12. Take any and all actions required related to the Executive Session Director Capp made a motion to approve Project Cox incentive proposal (term sheet), seconded by Director Heinisch. BOD approved unanimously. 13. Future Agenda Items 14. Adjournment - Adjoured at 6:29 pm Respectfully submitted: RbPib Appindne Rebekah Eskridge, Secretary CA CodyFyazier, President 3