Development Corporation ofMercedes, Inc. Special Called Meeting Thursday, January 26, 2022 11:30AM 320 S. Ohio Board Members Present: Joe Flores = Vice President (Virtual) Tony Garza - Treasurer Peggy Marie Chavez-Yanez Secretary (Virtual) Roel Villanueva- Member Luis Huerta- Member Marcos Garcia - Member Board Members Absent: Fred Gonzalez - President EDC Staff Present: Melissa Ramirez - Executive Director Norma Saenz Senior Administrative Coordinator Others Present: Luis Lopez Burton McCumber & Longoria, LLP (Virtual) Roberto Carrillo - Givilancz & Martinez PLLC (Virtual) Joseph Duenas - Mid Valley Fitness (Virtual) 1. Call Meeting to order Tony Garza called the meeting to order at 11:35 AM. 2. Discussion and Action: Audit FY 20-21; Burton McCumber & Longoria, LLP Roel Villanueva motioned to approve the Audit FY 20-21 as presented by Luis Lopez. Seconded by Marcos Garcia. Unanimous. 3. Executive Session: Section 551.087: Economic development negotiations with Project Project J. Duenas and Section 551.071: pending legal issues with delinquent notes 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 11:48 AM Joseph Duenas left the meeting at 11:49. AM The Board went into Open Session at 11:58 AM 4. Discussion and Action: item #3 Marcos Garcia motioned to approve a $50,000.00 loan for an 8year term with 3% interest, using all existing and newly acquired equipment as collateral and assuring Joseph Duenas liable for paying all closing cost. Seconded by Luis Huerta. Unanimous. 5. Adjournment: 11:58 AM De Fred Gonzalez, President Joe Flores, Jr., Vice President - Wuapy "mari Phuuny Vynu Tony Garza, Treasurer Peggy-Marie Chavez-Yanez) Sectetary Roel Villanueva, Member Kuis Huerta, Member h2 Marcos Garcia, Member