BUDA Economic Development Corporation MEETING MINUTES 2.27.25 CALL TOORDER President Celeste Medulla called the meeting to order at 6:00 pm. ROLL CALL A quorum was achieved with the following board members present: President Celeste Medulla Vice President Jim Niemie Secretary/lreasurer Betsy Urban Board Member Evan Ture Board Member Julia Davis Board Member Matt Smith absent, excused Board Member Megan Brown Buda EDC Staff in attendance included CEO Jennifer Storm, Assistant Director Recruiting & Development Brian Dyer, Assistant Director Entrepreneurial Initiatives Shannon Frost, Business Engagement Manager Jacqueline Martinez, Sr. Administrative Associate Shannon Cameron, and EDC Attorney Josh Brockman Weber. PUBLIC COMMENTSPUBLIC TESTIMONY NONE PUBLIC HEARING 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: Ellipsis Boutique - Building Improvements $3,030.00 Bridgeway Hospice Workforce & Training $5,217.45 Always Local Heating & Air Conditioning - Marketing - $3,000.00 FB & L LLC - Building Improvements $6, 713.00 Fly by Services LLC - Marketing and Workforce & Training $3,525.00 Teal House Coffee & Bakery - Equipment & Software - $5,000.00 Zoi Market/Meridian - Special Use Permit Fee reimbursement - $3,164.50 Item: Opened public hearing at 6:03 pm; seeing none. Closed at 6:03pm. 4.2. Large Incentive: Qualified financial incentives and budget amendment for Project San Antonio in an amount not to exceed Five Million Four Hundred Thousand and No/100ths Dollars ($5,400,000.00) over 30 years. Item 4.2: Opened public hearing at 6:03 pm; seeing none. Closed at 6:04 pm. 4.3. Large Incentive - Expenditures to Project Caboose in an amount not to exceed Three Hundred Fifty Thousand and No/100ths Dollars ($350,000.00). Item 4.3: Opened public hearing at 6:04 pm; seeing none. Closed at 6:04 pm. 4.4. Large Incentive: Budget amendment for contractual financial incentives owed to 2428 Partners, LP, under a performance agreement, in an amount not to exceed One Hundred Seventy Thousand and No/100ths Dollars ($1 70,000.00). Item: 4.4: Opened public hearing at 6:05 pm; seeing none. Closed at 6:05pm. 4.5. Large Incentive: Qualified finançial incentives to Project Fructose in an amount not to exceed Seventy-Five Thousand and No/100ths Dollars ($75,00.00) and related budget amendment. tem 4.5: Opened public hearing at 6:05pm; seeing none. Closed at 6:05pm. 4.6. Large Incentive - Qualified financial incentives to Project Sunshine in an amount not to exceed Fifty Thousand and No/100ths Dollars ($50,000.00) and related budget amendment. Item 4.6: Opened public hearing at 6:06pm; seeing none. Closed at 6:06pm. STAFF REPORTS OF BUDA EDC MONTHLY ACTIVITIES- DISCUSSION ONLY- NO ACTION TAKEN (1) CEO Report on EDC operations and activities; (2) Staff Report on recruitment and development activities (Brian Dyer to provide quarterly update); (3) Staff Report on entrepreneuria initiatives; (4) Staf Report on business retention and expansion (BRE) activities; (5). Staff Report on marketing activities. ITEMS OF COMMUNITY INTEREST CONSENT AGENDA (PUBLIC TESTIMONY) 7.1. Approval of the December 2024 Financial Report. 7.2. Approval of the December 2024 and Quarterly Meeder Investment Report. 7.3. Approval of the January 23, 2025, Regular Board Meeting Minutes. Motion, to approve the Consent Agenda, as presented, was by Member Jim Niemie and seconded by Member Julia Davis. Motion carried unanimously. GENERAL AGENDA ITEMS 8.1. 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: Ellipsis Boutique - Building Improvements $3,030.00 Bridgeway Hospice - Workforce & Training $5,217.45 Always Local Heating & Air Conditioning - Marketing . $3,000.00 FB & L LLC - Building Improvements - $6, 713.00 Fly by Services LLC - Marketing and Workforce & Training $3,525.00 Teal House Coffee & Bakery - Equipment & Software . $5,000.00 Zoi Market/Meridian - Special Use Permit Fee reimbursement - $3,164.50 Item was presented along with background by Jacquie Martinez. LEAP Committee unanimously voted to approval the list of incentive recommendations to the Board. Discussion was had on a few specifics related to the applicants with additional information being shared regarding specifics on each projects approval. Motion, to approve was made by Member Evan Ture and seconded by Member Jim Niemie. Motion carried unanimously. 8.2. Large Incentive: Approval of a budget amendment to authorize financial incentive payments owed, under a performance agreement, to 2428 Partners, LP in an amount not to exceed One Hundred Seventy Thousand and No/100th Dollars ($170,000.00). Background information was presented by Jennifer Storm and general discussion was held. Motion, to approve was made by Member Celeste Medulla and seconded by Member Megan Brown. Motion carried unanimously. 8.3. Approval of Board & Commission Successes 2024 - 2025 and Initiatives for 2025 - 2026 Worksheet. Background information was presented by Jennifer Storm along with a list of accomplishments and successes for review. General discussion was had on the worksheet as distributed. Motion, to approve as presented, was made by Member Celeste Medulla and seconded by Member Betsy Urban Motion carried unanimously. EXECUTIVE SESSION At 7:09 pm, with the exception of members Betsy Urban and Julia Davis who abstained due to a conflict of interest, members convened in executive session pursuant to the Texas Government Code, Chapter 551, to deliberate the following: 9.1. Gov't Code Sec. 551.087 and Sec. 551.071 - Economic Development Negotiations and Consultation with attorney regarding performance agreement obligations: 1. Project San Antonio (At this interval, Member Betsy Urban and Member Julia Davis joined the executive session.) 2. Project Caboose 3. Project Fructose 4. Project Sunshine 5. Heaven Hill 6. JI Parks 9.2. Gov't Code Sec. 551.072 - Deliberation regarding real property - Project Old School. RECONVENE At 9:32 pm, open session was reconvened, and the following actions were taken: Note: Members Betsy Urban and Julia Davis were not present on the dias for 10.1. 10.1. Large Incentive - Approval of financial incentives for Project San Antonio in an amount not to exceed Five Million Four Hundred Thousand and No/100ths Dollars ($5,400,000.00) in exchange for economic development obligations to the Buda EDC that promote new or expanded business development; and authorize a Chapter 380 and economic development performance agreement for Project San Antonio with the City and Buda EDC. Motion, to approve subject to final approval of the EDC attorney and City Council, was made by Member Megan Brown and seconded by Member Jim Niemie. Motion carried unanimously. Note: Members Betsy Urban and Julia Davis returned to the dias. 10.2. Large Incentive Approval of expenditures related to Project Caboose not to exceed Three Hundred Fifty Thousand and No/100 Dollars ($350,000.00); and authorization of a purchase agreement in the amount of Ten Thousand and No/100 Dollars ($10,000.00) for Project Caboose for the purposes of promoting new or expanded business development within the City of Buda. Motion, to approve subject to final approval of the EDC attorney, was made by Member Celeste Medulla and seconded by Member Evan Ture. Motion carried unanimously. 10.3. Large Incentive - Approval of financial incentives and a performance agreement not to exceed $75,000.00 to Project Fructose in exchange for economic development obligations to the Buda EDC. Motion, to approve subject to final approval of the EDC attorney, was made by Member Celeste Medulla and seconded by Member Jim Niemie. Motion carried unanimously. 10.4. Large Incentive - Approval of financial incentives, a performance agreement, and budget amendment to Project Sunshine in an amount not to exceed Fifty Thousand and No/100 Dollars ($50,000.00) in exchange for economic development obligations to the Buda EDC. Motion, to approve subject to final approval of the EDC attorney, was made by Member Megan Brown and seconded by Member Betsy Urban. Motion carried unanimously. FUTURE AGENDA ITEMS Member Julia Davis requested an update on progress of the HIVE after the first 90 days to review the program, interest, etc. Also requested by the EDC Attorney was verification of liability coverage and components of protection for the HIVE. ADJOURNMENT There being no further business, the meeting was adjourned by President Celeste Medulla at 9:41 pm. 1 the undersigned authority, hereby certify that this meeting's minutes consist of the preceding Minute Record and the Supplemental Minute Record (fapplicable). ATTEST: / MPhla Celeste Medulla, President Ssss9: a Betsy Urban, Secretary/Treasurer