Development Corporation of Mercedes, Inc. Regular Meeting Thursday, August 15, 2019 11:30AM 320 S. Ohio Board Members Present: Joe Flores - Vice President Tony Garza - Treasurer Roel Villanueva- Member Manuel Garza- - Member Board Members Absent: Fred Gonzalez = President Jaime Gonzales Secretary Antonio Anzaldua III Member EDC Staff Present: Melissa Ramirez - Executive Director Rose Saenz - Administrative Assistant City Staff Present: Mark Sossi - DCM Interim Attorney Others Present: Roberto Carrillo - Givilancz & Martinez PLLC 1. Call Meeting to order Joe Flores called the meeting to order at 11:30 AM. 2. Discussion and Action: Minutes for July 18, 2019 and July 25, 2019 Roel Villanueva motioned to approve the July 18, 2019 and July 25, 2019 minutes as presented. Seconded by Manuel Garza. All voted aye. 3. Discussion and Action: Financial Report for July 2019 Tony Garza motioned to approve the July financials with the condition to book liability of total amount owed to the Outlet Mall. Seconded by Roel Villanueva. All voted aye. 4. Discussion and Action: Executive Director's Report A. Mercedes Corner B. Little Nashville C. New Commercial D. Orchard Village E. Texas Street Festival Melissa Ramirez presented the Executive Director's Report. 5. Discussion and Action: FY19-20 Budget Tony Garza motioned to approve the FY 19-20 Budget. Seconded by Manuel Garza. All voted aye. 6. Discussion and Action: IRP Budget Tony Garza motioned to approve the IRP Budget. Seconded by Roel Villanueva. All voted aye. 7. Discussion and Action: Investment Policy Tony Garza motioned to approve the Investment Policy. Seconded by Roel Villanueva. All voted aye. 8. Executive Session: Section 551.087: Economic development negotiations with Project D. Reyna, Project B. Gonzalez, Project RGVLS and Project Fiesta. Section 551.017 (2) consultation with legal counsel to discuss confidential matters protected by the attorney client communication privilege relating to 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 12:32 PM The Board went into Open Session at 12:55 PM 9. Discussion and Action: item #8 No Action 10. Adjournment: 12:55 PM i Fred Gonzalez, President Joe Flores, Jr., Vice President 0A Tony Garza, Treasurer Jaime Gonzales, Secretary Roel Villanueva, Member Antonio Anzaldua III, Member Manuel Garza, Member