Development Corporation of Mercedes, Inc. Regular Called Meeting Wednesday, September 18, 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 Board Members Absent: Roel Villanueva - Member EDC Staff Present: Melissa Ramirez - Executive Director Zefra Mascorro - Administrative Coordinator Mario Salinas - Marketing Specialist Mark Sossi - DCM Attorney City Staff Present: Meredith Hernandez- Interim Finance Director Others Present: Rudy Salinas-SAS CPA 1. Call Meeting to order Fred Gonzalez called the meeting to order at 11:30AM 2. Discussion and Action: August 21, 2024 Minutes Marcos Garcia voted to approve the August 21, 2024 Minutes as presented. Seconded by Tony Garza. All voted aye. 3. Discussion and Action: August 2024 Financials Marcos Garcia voted to approve the August 2024 Financials as presented. Seconded by Lou Huerta. All voted aye. Mario Salinas, Marketing Specialist entered the Open Session at 11:33AM 4. Discussion and Action: TXCLASS Quarterly Report Tony Garza voted to approve the TXCLASS Quarterly Report. Seconded by Marcos Garcia. All voted aye. 5. Discussion and Action: FY24-25 IRP Budget Joe Flores voted to approve the IRP USDA Budget as presented. Seconded by Marcos Garcia. All voted aye. 6. Discussion and Action: Write off Bad Debt, H. Reynoso Joe Flores voted to approve writing off bad debt ofH. Reynoso in the amount of$ $146,243.42 and identifying the foreclosed property as a DCM asset within the RBEG financials. Seconded by Marcos Garcia. All voted aye. 7. Discussion and Action: Inventory Marcos Garcia voted to deem 2 brown chairs & 2 black counter-high tables with 2 stools and 1 trade show display unsalvageable. Seconded by Joe Flores. All voted aye. 8. Discussion and Action: DCM Signage Improvement Program Bids Tony Garza motioned to award the Signage Grant contract to EZ Signs & Electrical Services. Seconded by Marcos Garcia. All voted aye. 9. Discussion and Action: Travel and Training-Conterenees Marcos Garcia motioned to forego IAAPA and focus on ICSC conferences and Retail Live. Seconded by Lou Huerta. All voted aye. 10. Discussion and Action: Tabled Items No discussion. 11. Executive Session: Section 551.087: Economic development negotiations with Project M30, Project Kamel, Project Travel Center, Project STM, Project Knights, Project ASHTI, Project Arts, Project QSR, Project 150, Project M2, Project Cruz, Project M. Carrillo, Project Bert Ogden, Project A. Garcia, Project RGVLS, Project G. Schwarz, Project Coffee, Project Carwash, Project Rios, and Project UT 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 11:56AM Meredith Hernandez, Interim Finance Director exited the Executive Session at 11:56AM Joe Flores, Board Member exited the Executive Session at 12:12PM The Board went into Open Session at 12:23PM 13. Discussion and Action: item #11 No action. 14. Adjourment:1223PM dl ) 564 I Fred Gonzalez, President Joe Flores, Jr., Member haun 1 Marcos Garcia, Vice-President TonyGatza, Member Diomariv Chaw Aun PeggyMarie Chavez-Yanez, Tieasurer Roel Villanueva, Member kou Huerta, Secretary