MINUTES OF THE MARCH 17, 2025 MEETING OF THE BONHAM ECONOMIC DEVELOPMENT CORPORATION The Board of Directors of the Bonham Economic Development Corporation met in regular session on Monday evening at 5:30 p.m. in the Bonham City Hall with the following members present: Alan McDonald, President Kelly Royse, Vice-President-Absent Warren Jamieson Ernie Quintana Kevin Hayes Jerrad Besch-Absent Justina Silwood - Absent CALL TO ORDER President Alan McDonald called the meeting to order noting that a quorum was present. DOWNTOWN GRANT CHECK PRESENTATION A check for $13,020 was presented to Amanda Wells with Glam & Grace Beauty Bar at 111 W Sam Rayburn Dr. for signage, plumbing and other work. A check for $25,000 was presented to Don Hunt with The Roof Doctor at 106 E 6th St for multiple improvements. MINUTES President McDonald called for a motion on the minutes of the February 17th regular meeting. A motion was made by Hayes and seconded by Jamieson to approve the minutes as written. The motion carried with a unanimous vote of 4 - 0. FINANCIAL REPORT FOR FEBRUARY 2025 A motion was made by Quintana and seconded by Hayes to accept the financial reports for February 2025. The motion carried with a unanimous vote 4 - 0. CITIZEN'S OPPORTUNITY TO SPEAK President McDonald invited anyone who would like to address the Board regarding items on the agenda or other conçerns not listed on the agenda to do sO now. No one came forward. RESOLUTION = INVESTMENT POLICY In accordance with the State of Texas Public Investment Act, the City Council approved the updated Investment Policy last week. The only change was the Bonham Economic Development Corporation was added. This complies with what the auditors request. A motion was made by Jamieson and was seconded by Hayes to adopt a Resolution approving an Investment Policy. The motion carried with a unanimous vote 4 - 0. EXECUTIVE DIRECTOR REPORT Joey Grisham, BEDCO Executive Director, stated we are still receiving grant applications for downtown. There has been a $300,000 + investment in downtown to date. Jimmy John's opens tomorrow and Little Caesars and Wings Over Bonham have both recently opened. Staff continue to work on the layout of the Business Park. The five acres on Silo Rd and Ballpark Way we were under contract on may not be available. This piece of property may be included on a lien for the Jail site. Staff is working on a county wide EDC forum to possibly be scheduled in May. A brief housing update was given. EXECUTIVE SESSION President McDonald recessed the meeting into closed executive session at 5:42 p.m. regarding economic development negotiations as permitted under Texas Government Code $551.087 and to discuss the purchase, exchange, lease, or value of real property as permitted under Texas Government Code $551.072. 156 03/17/2025 REÇONVENE IN OPEN SESSION President McDonald reconvened the board into open public session at 6:09 p.m. No action taken. ADJOURN There was no further business to consider and a motion to adjourn was made by Quintana and was seconded by Hayes. The motion carried with a unanimous vote 4 - 0 and the meeting adjourned at 6:09 p.m. Rn6 Alan McDonald, President ATTEST: oathn Mokten Heather Stockton, City Secretary 157