Benbrook EDD BENBROOK ECONOMIC DEVELOPMENT CORPORATION REGULAR BOARD MEETING MINUTES TUESDAY, FEBRUARY 25, 2025 911 WINSCOTT ROAD, BENBROOK, TEXAS WORK SESSION: The Benbrook Economic Development Corporation (BEDC) Board of Directors met at 6:20 p.m. to discuss the agenda items and review staff updates. The Work Session was held in the Benbrook City Hall Central Conference Room. The Work Session recessed at 6:59 p.m. Board Members in Attendance: Gary A. Lindsay Place 1 Dr. Danyelle Ackall Place 2, BEDC Secretary Kristen Melton Place 3 Thomas Casey Place 4, BEDC Vice President Kent Williams Place 5, BEDC President Phyllis Harkins Place 6, Arrived at 8:01 p.m. Omar P. Aguilar Place 7 Board Members Not in Attendance: Staff Present: Jessica James, Director of Economic Development and Marketing and Breanna Bowen, Manager of Economic Development and Marketing REGULAR SESSION - CONVENED INTO THE COUNCIL CHAMBERS I. CALL TO ORDER The BEDC Regular Board Meeting was called to order at 7:01 p.m. on Tuesday, February 25, 2025, in the Benbrook City Hall Council Chambers, located at 911 Winscott Road, Benbrook, Texas. II. PROJECT ANNOUNCEMENT President Williams announced the Benbrook Economic Development Corporation' S partnership with MAD Concepts Group (MAD Benbrook, LLC) and Blue Plate Network to bring Jakes Burgers and Tacos & Avocados to Benbrook. The development will be located on the BEDC property located on the corner of Westpark Dr. and Benbrook Blvd. The BEDC worked for over a decade to revitalize this key location in Benbrook. III. CITIZEN'S PUBLIC FORUM President Williams opened the Citizen's Public Forum to allow citizens to comment on any agenda item. There were no citizen comments. BEDC Regular Board Meeting Minutes February 25, 2025 Page 1 of3 Benbrook EDD IV. ACTION ITEMS A. Approve the January 21, 2025, Regular Board Meeting Minutes. Ms. Melton made a motion to approve the January 21, 2025, Regular Board Meeting Minutes as presented. Dr, Ackall seconded the motion. The motion passed; 6-0. V. DIRECTOR'S REPORT Receive Monthly Financial Report for Period Ending January 31, 2025. Presentation Highlights: Liquid assets as of January 31, 2025 Checking account: $2,903,660.85 Checking account interest earned: $4,327.28 TexPool açcount: $4,112,369.55 TexPool account interest earned: $15,282.44 o Total liquid assets: $7,016,030.40 Total revenue for January 2025: $198,269.45 This amount includes: 0 Sales tax revenue for. January 2025: $177,566.37 Interest earned on account: $19,609.72 ) BKV North Texas, LLC: $1,093.36 Encumbered Funds as of January 31, 2025: $3,083,955.87 This amount includes: Total current and pending projects: $3,051,471.00 Total operating expenses for January 2025: $32,484.87 Fund balance as of. January 31, 2025: $3,932,074.53 VI. EXECUTIVE SESSION The Board convened into Executive Session at approximately 7:13 p.m. to discuss the items below. Board member Phyllis Harkins arrived at 8:01 p.m. Pursuant to the Texas Open Meetings Act: A. Section 551.072 Deliberations Regarding Real Property. Deliberate the purchase, exchange, lease, or value of real property, as deliberation in an open session would have a detrimental effect on the position of governmental body negotiations with a third person. DISCUSS PROPERTY LOCATED AT 610 WINSCOTT. DISCUSS PROPERTY LOCATED AT 8509 BENBROOK BLVD. B. Section 551.087 - Deliberation Regarding Economic Development Negotiations. (2) Deliberate the offer of a financial or other inçentive to a business prospect described by Subdivision (1). UPDATE ON MAD BENBROOK, LLC'S INCENTIVE. BEDC Regular Board Meeting Minutes February 25, 2025 Page 2 of3 Benbrook EDD VII. RECONVENE INTO OPEN SESSION The BEDC Board reconvened into open session at 8:06 p.m. VIII. TAKE ANY NECESSARY OR APPROPRIATE ACTION AS A RESULT OF CLOSED EXECUTIVE SESSION IX. ADJOURNMENT The meeting adjourned at approximately 8:07 p.m. APPROVED: Kuswal KENT WILLIAMS PRESIDENT ATTEST: DR. DANYEELE ACKALL SECRETARY BEDC Regular Board Meeting Minutes - February 25, 2025 Page 3 of3