Development Corporation of Mercedes, Inc. Regular Called Meeting Wednesday, March 20, 2024 11:30AM Board Members Present: Fred Gonzalez- President Marcos Garcia -Vice President Lou Huerta - Secretary Roel Villanueva Member Joe Flores - Member Tony Garza - Member Board Members Absent: Peggy Marie Chavez-Yanez- Treasurer EDC Staff Present: Melissa Ramirez - Executive Director Zefra Mascorro - Administrative Coordinator Mario Salinas - Marketing Specialist EDC Staff Absent: Mark Sossi- DCM Attorney City Staff Present: Alberto Perez- City Manager City Staff Absent: Others Present: Rudy Salinas- SAS CPA Thelma Garza- Project R. Garza 1. Call Meeting to order Fred Gonzalez called the meeting to order at 11:30AM Alberto Perez entered the Open Session meeting at 11:31AM 2. Discussion and Action: February 21, 2024 Minutes Tony Garza voted to approve the February 21, 2024 Minutes as presented. Seconded by Lou Huerta. All voted aye. 3. Discussion and Action: February 2024 Financials Roel Villanueva voted to approve the February 2024 Financials as presented. Seconded by Tony Garza. All voted aye. 4. Discussion and Action: Election of Officers Tabled 5. Discussion and Action: Hotel Feasibility Study Joe Flores motioned to approve the Hotel Feasibility Study from Source Strategies at a cost of $8,750.00. Seconded by Tony Garza. All voted aye. 6. Discussion and Action: RGV Partnership-Membership & Sponsorship Joe Flores motioned to approve the RGV Parnemahp-Member.hip as a Silver Sponsor in the amount of $2,500 & as a Platinum Sponsor for the Las Vegas Mixer at a cost of $3,500. Seconded by Roel Villanueva. All voted aye. 7. Discussion and Action: TXCLASS Quarterly Report Tony Garza voted to approve the TXCLASS Quarterly Report. Seconded by Lou Huerta. All voted aye. 8. Discussion and Action: National Fitness Campaign Tony Garza motioned to decline the National Fitness Campaign as presented. Seconded by Lou Huerta. All voted aye. 9. Discussion and Action: ICSC-Las Vegas Tony Garza motioned to approve two additional people attending ICSC- Las Vegas for a cost of $5,827. Seconded by Lou Huerta. All voted aye. 10. Discussion and Action: Small Business Awards Reception Joe Flores motioned to approve attending the Small Business Awards Reception and purchase tickets for up to the head count needed by Melissa Ramirez, Executive Director. Seconded by Roel Villanueva. All voted aye. 11. Discussion and Action: Signage Grant, Adame Joe Flores motioned to approve the signage quote for Elsy's Jewelry from EZ Signs at a cost of $3,788.75 inclusive of taxes. Seconded by Tony Garza. All voted aye. 12. Discussion and Action: Tabled Items No Action 13. Executive Session: Section 551.087: Economic development negotiations with Project Knights, Project STM, Project ASHTI, Project Arts, Project QSR, Project M30, Project 150, Project M2, Project Cruz, Project M. Carrillo, Project Bert Ogden, Project A. Garcia, Project RGVLS, Project Mercedes Light Industrial Park, Project G. Schwarz, Project Coffee, Project Carwash, Project Rios, Project UT, 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 12:02PM The Board went into Open Session at 12:31PM 14. Discussion and Action: item #13 Joe Flores motioned to approve a loan of $45,389 for Project R. Garza with a 7-year term at 3.5% interest. Seconded by Tony Garza. All voted aye 15. Adjourpment4233PM u OA bllc Fred Gonzalez, President Joe Flores, Jr., Member - ) - A Marcos Garcia, Vice-President Tony Garza, Member Peggy Marie Chavez-Yanez, Treasurer Roel Villanueva, Member Lou Huerta, Secretary