Development Corporation of Mercedes, Inc. Special Called Meeting Wednesday, May 31, 2023 11:30AM Board Members Present: Fred Gonzalez - President Joe Flores - Member Lou Huerta - Secretary Marcos Garcia - Vice President (Virtually) Roel Villanueva- Member Peggy Marie Chavez-yanez-Ireasurer Tony Garza-Member Board Members Absent: EDC Staff Present: Melissa Ramirez - Executive Director Zefra Mascorro = Administrative Coordinator Anthony Troiani- DCM Attorney (Virtually) City Staff Present: Javier Ramirez- Assistant City Manager Others Present: Martha Carrillo- Project M. Carrillo 1. Call Meeting to order Fred Gonzalez called the meeting to order at 11:30AM 2. Discussion and Action: Executive Session: Section 551.087: Economic development negotiations with Project M. Carrillo and Section 551.071: pending legal issues with delinquent loans and on any regular agenda item requiring confidential, attorney-client advice necessitated by the deliberation or discussion of said item as needed. The Board went into Executive Session at 11:31AM The Board went into Open Session at 12:25PM 3. Discussion and Action: item #2 Board Member Joe Flores motioned to proceed with lending Project M. Carrillo 70,140.83 at a 3.5% interest rate for a period of 7 years with payments of $942.68; DCM takes 1st lien on real estate. Seconded by Roel Villanueva. All voted Aye. 4. Adjournment: 12:26PM Fred Gonzalez, President Joe Flores, Jr., Member - any huN woluiny TonyGarza, Member PeggyMarie Chavez - Yahezy Treasurer Kin / A 6 1 Roel Villanueva, Member Marcos Garcia, Vice President Kou Huerta, Secretary