Development Corporation of Mercedes, Inc. Regular Called Meeting Wednesday, June 19, 2024 11:30AM Board Members Present: Fred Gonzalez- President Marcos Garcia -Vice President Lou Huerta - Secretary Peggy Marie Chavez Yanez- Treasurer Tony Garza - Member Joe Flores - Member (Virtually) Roel Villanueva - Member Board Members Absent: 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: City Staff Absent: Alberto Perez- City Manager Others Present: Rudy Salinas-SAS CPA 1. Call Meeting to order Fred Gonzalez called the meeting to order at 11:33AM The Board deviated from the agenda and went to Item #4 4. Discussion: TX Class Report Tony Garza voted to approve the TXCLASS Quarterly Report. Seconded by Marcos Garcia. All voted aye. 5. Discussion: FY24-25 Draft Budget No Action The Board deviated from the agenda and went to Item #2 2. Discussion and Action: May 2, 2024 & May 15, 2024 Minutes Marcos voted to approve the May 2nd, 2024 Minutes as presented. Seconded by Lou Huerta. All voted aye. Tony Garza voted to approve the May 15, 2024 Minutes as presented. Seconded by Marcos Garcia. All voted aye. 3. Discussion and Action: May 2024 Financials Roel Villanueva voted to approve the May 2024 Financials as presented. Seconded by Marcos Garcia. All voted aye. 6. Discussion: ICSC Recap No Action 7. Discussion and Action: Texas Street Festival Influencer Tony Garza motioned to approve the Texas Street Festival Influencer at a cost of$1,800. Seconded by Marcos Garcia. All voted aye. 8. Discussion and Action: Signage Grant, De La Garza, Ramirez, Rivera, Escobar-Garcia, Hernandez, Garcia Marcos Garcia motioned to approve the signage grants for De La Garza, Ramirez, Rivera, Escobar-Garcia, Hernandez, and Garcia. Seconded by Lou Huerta. All voted aye. 9.1 Discussion and Action: Tabled Items No Action 10. Executive Session: Section 551.087: Economic development negotiations with Project Kamel, Project H. Reynoso, Project A. Gonzalez, Project Travel Center, Project STM, Knights, Project ASHTI, Project Arts, Project QSR, Project M30, Project 150, Project M2, Project Cruz, Project M. Carrillo, Project AHSTI, 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: Acquisition and Conveyance of Real Estate: MERCEDES LIGHT INDUSTRIAL PARK PH 1 LOT 3 & 4 BLK 1 and Conveyance of Real Estate: MERCEDES LIGHT INDUSTIRAL PARK PH 1 LOT 1 and 2 BLK 1 and Section 551.071: pending legal issues with Case No C-4846-19-A, 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 12:46PM Peggy Chavez-Yanez, Board Treasurer exited the Executive Session at 1:32PM Peggy Chavez-Yanez, Board Treasurer entered the Executive Session at 1:37PM The Board went into Open Session at 1:46PM 11. Discussion and Action: item #10 Marcos Garcia motioned to proceed as discussed in Executive Session with Project H. Reynoso and not modify the existing note and proceed according to the promissory note. Seconded by Tony Garza. All voted aye. Marcos Garcia motioned to proceed as discussed in Executive Session with Project Travel Center to disburse $41,133.30 and forgo engaging an appraiser. Seconded by Roel Villanueva. All voted aye. Tony Garza motioned to proceed as discussed in Executive Session with Project Bert Ogden and direct legal counsel to inquire about $60,000 being returned to DCM. Seconded by Marcos Garcia. All voted aye. Marcos Garcia motioned to approve cost sharing the acquisition and conveyance of MERCEDES LIGHT INDUSTRIAL PARK PH 1 LOT 3 & 4 BLK 1 for $249,000 plus closing cost with the city. Seconded by Tony Garza. AII voted aye. Marcos Garcia motioned to approve DCM conveyance of MERCEDES LIGHT INDUSTRIAL PARK PH 1 LOT 1 and 2 BLK 1. Seconded by Tony Garza. All voted aye. 11. Agjourment.5OPM - Fred Gonzalez, President Joe Flores, Jr., Member - - a 30 Marcos Garcia, Vice-President Tony Garza, Member - 3 Vhgay hani CiANey paing Peg-Marie Chavez-Yanez, Treasurer Roel Villanueva, Member 224 1 Lou Huerta, Secretary