Development Corporation of Mercedes, Inc. Regular Called Meeting Wednesday, February 21, 2024 11:30AM Board Members Present: Fred Gonzalez- President Marcos Garcia -Vice President Lou Huerta Secretary Peggy Marie Chavez Yanez- Treasurer Roel Villanueva - Member Joe Flores Member Board Members Absent: Tony Garza - Member EDC Staff Present: Melissa Ramirez - Executive Director Zefra Mascorro - Administrative Coordinator Mario Salinas - Marketing Specialist Mark Sossi - DCM Attorney EDC Staff Absent: City Staff Present: Alberto Perez- City Manager City Staff Absent: Others Present: Adrian Webb- CPA Manuel Lerma- CPA Jaime X. Ayala- CPA Mario Salazar- Signage Grant Applicant (Virtually) Juan J. Garza Jr.- Project Knights Rick Camargo- Project Knights 1. Call Meeting to order Fred Gonzalez called the meeting to order at 11:30AM 2. Discussion and Action: January 17, 2024 Minutes Marcos Garcia voted to approve the January 17, 2024 Minutes as presented. Seconded by Lou Huerta. All voted aye. 3. Discussion and Action: January 2024 Financials Marcos Garcia voted to approve the January 2024 Financials as presented. Seconded by Roel Villanueva. All voted aye. Mr. Alberto Perez entered the Open Session at 11:39AM 4. Discussion and Action: Election of Officers Roel Villanueva voted to table the election of officers as the full Board was not present. Seconded by Marcos Garcia. All voted aye. 5. Discussion and Action: FY 22-23 Audit, Adrian Webb, CPA Marcos Garcia motioned to approve the FY 22-23 Audit as presented. Seconded by Lou Huerta. All voted aye. 6. Discussion and Action: ICSC Recap Marcos Garcia motioned to approve a 20 by 10 booth and up to 3 staff members and 4 board members to attend ISCS-Vegas in May 2024. Seconded by Lou Huerta. All voted aye. 7. Discussion and Action: Hotel Feasibility Study Joe Flores voted to authorize DCM director to procure hotel feasibility study bids. Seconded by Marcos Garcia. All voted aye. 8. Discussion and Action: FY23-24 Budget Amendment Roel Villanueva motioned to approve the FY23-24 Budget Amendment as presented. Seconded by Marcos Garcia. All voted aye. 9. Discussion and Action: EDA Grant, Administrative Fee Joe Flores motioned to engage the LRGVDC to manage the EDA grant for Mile 1 West for up to $35,000. Seconded by Marcos Garcia. All voted aye. 10. Discussion and Action: Signage Grant, Armendariz and Salazar Marcos Garcia motioned to approve the signage quote for Rick Armendariz State Farm Insurance from EZ Signs for up to $4,500 inclusive of taxes. Seconded by Lou Huerta. All voted aye. Joe Flores motioned to approve the signage quote for Bare Knuckle Tattoos and Barbershop from Sign Stickers and More for up to $4,500 inclusive of taxes. Seconded by Lou Huerta. All voted aye. 11. Discussion and Action: ViewPoint Joe Flores motioned to approve an extra day of filing at a cost of $3,000 for ViewPoint. Seconded by Roel Villanueva. 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 551.072 Real Estate: MERCEDES ORIGINAL TOWNSITE S130°-E150 BLK 10, 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 12:58PM Mr. Juan J. Garza Jr. entered the Executive Session at 1:00 PM Mr. Rick Camargo entered the Executive Session at 1:00 PM Mr. Juan J. Garza Jr. exited the Executive Session at 1:09PM Mr. Rick Camargo exited the Executive Session at 1:09PM The Board went into Open Session at 2:14PM 14. Discussion and Action: item #13 Joe Flores motioned to proceed as discussed in Executive Session with Project Knights and request receipts for the remaining balance or amend the note as appropriate. Seconded by Marcos Garcia. Marcos Garcia, Roel Villanueva, Peggy Chavez-Yanez, Lou Huerta, Joe Flores vote aye. Fred Gonzalez voted nay. Marcos Garcia motioned to proceed as discussed in Executive Session with Project STM and extend their contract until April 30, 2024. Seconded by Lou Huerta. All voted aye. Marcos Garcia motioned to proceed as discussed in Executive Session for Project ASHTI and revisit in 90 days. Seconded by Roel Villanueva. All voted aye 15. Adjournment: 2:16PM - ah L 4 - Jarciee Fred Gonzalez, President Joe Flores, Jr., Member 1 V Marcos Garcia, Vice-President Tony Garza, Member Sapaox mar Chavg Aur PeggyMarie Chavez-Yanez, OTreesurer Roel Villanueva, Member Lou Hyerta, Secretary