MEETING MINUTES OF THE OPEN MEETING OF THE LLANO ECONOMIC DEVELOPMENT CORPORATION February 10, 2025 OPEN MEETING 1. Call to Order a. The meeting was called to order at 5:33 PM by president, Allen Hopson, with the.following members present: Pat McDowell, Don Comedy, Hatch Smith, Travis Allen. Eric Schuessler and J.D. Baker were absent. b. Also present was Mayor Marion Bishop and City Manager Marty Mangum. C. Audience present: Michael Herrera and Steve Duncan. 2. Public Comments a. Michael Herrera passed on comments until Item #5. 3. Discussion and Possible Action - Meeting Minutes for November 12, 2024, and December 9, 2024 a. Motion was made by Hatch Smith and seconded by Pat McDowell to approve the minutes as submitted. b. Motion was unanimously approved. 4. Discussion Only = Financial Reports Ending December 31, 2024 a. The Finance Department finished reconciliation process early and furnished financial reports through January 2025. b. Allen noted that they are at approximately 38% of the budget through the first 4 months of the fiscal year. 5. Discussion and Possible Action - To Approve the. Expenditure of up to $668,497.60 to the Llano County Hospital Authority pursuant to the Business Retention and Development Project Previously Approved and Budgeted a. Citizen, Michael Herrera, addressed the Board with the following 6 quéstions concerning this agenda item: i. When was the public hearing on this expenditure? Marty answered that it will be on 2/13/2025 ii. Was it approved by the City Council, and if so, when? Marty answered, yes, on 11/4/2024 ii. Did the County ask for this money? Hatch answered no iv. What is the money being used for? Pat answered that it is being used to save the hospital. Adding the hospital is separating from Mid Coast and will be run by ourselves (Llano County Hospital Authority). Allen added that Hatch Smith is currently not receiving a salary. V. What oversight will there be? Pat answered that there will be a monthly report vi. Is there a written plan on how this money is going to be used? Pat answered yes, there is plan b. The Public Hearing will be on Thursday, February 13, 2025, and this is the last step in the budget amendment process to transfer the $400K from the LEDC reserves into the Business Retention and Development line item. Council approved this budget amendment on 11/4/2024. C. There are approximately 50 jobs at hospital. d. The $268K+ in the Business Retention and Development line item has already been approved for this fiscal year, and that is the only amount that can be acted on tonight. e. Motion was made by Don Comedy and seconded by Pat McDowell, to expend the entire amount of $268,497.60 to the Llano County Hospital Authority for operating costs. f. Hatch Smith abstained from the vote. g. Motion was unanimously approved by remaining Board members. 6. Discussion Only - Old Business a. No discussion. 7. Discussion Only New Business a. No discussion. 8. Discuss and Consider - Invoices and Timesheets a. Motion was made by Hatch Smith and seconded by Don Comedy to approve the timesheet as submitted. b. Motion was unanimously approved. 9. Reports a. No reports. 10. Adjourn a. With no further business, the meeting was adjourned at 5:46 PM. 4DBD J.D. Baker, SecretaryTreasurer Llano Economic Development Corporation