Development Corporation of Mercedes, Inc. Special Called Meeting Wednesday, August 10, 2022 11:30AM Board Members Present: Fred Gonzalez - President Joe Flores = Vice President Tony Garza - Treasurer Peggy Marie Chavez - Yanez - Secretary Luis Huerta - Member Marcos Garcia - Member Board Members Absent: Roel Villanueva- Member EDC Staff Present: Melissa Ramirez - Executive Director Aaron Rendon- DCM Attorney City Staff Present: Alberto Perez, City Manager Others Present: Cruz + Laura Lopez, LaserLux 1. Call Meeting to order Fred Gonzalez called the meeting to order at 11:30 AM. 2. Executive Session: Section 551.087: Economic development negotiations with Project Lopez and Section 551.071: pending legal issues 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 11:30 PM The Board went into Open Session at 11:58 PM 3. Discussion and Action: item #2 Joe Flores motioned to approve a loan for Project Lopez for $85,260 at 3% interest, amortized over 15 years with a balloon payment at year 10. The loan is contingent on clearance from a structural engineer; the DCM attorney will draft a performance agreement with construction milestones. Seconded by Marcos Garcia. Unanimous. 4. Adjournment: 11:59 PM 0440 Fred Gonzalez, Pyésident Joe Flores, Jr., Vice President SPLAy hui Chu inin TonyGarza, Treasurer PegguMarie Chavez - YanerSecrelkry A1 , Roel Villanueva, Member Luis BuertaMember Inb Marcos Garcia, Member