MINUTES OF THE APRIL 21, 2025 MEETING OF THE BONHAM ECONOMIC DEVELOPMENT CORPORATION The Board of Directors of the Bonham Economic Development Corporation met in regular session on Monday evening at 5:30 p.m. in the Bonham City Hall with the following members present: Alan McDonald, President Kelly Royse, Vice-President Warren Jamieson Ernie Quintana Kevin Hayes Jerrad Besch Justina Silwood CALL TO ORDER President Alan McDonald called the meeting to order noting that a quorum was present. MINUTES President McDonald asked for a minor correction. The name of the Roof Doctor representative was requested to be corrected from Don Hunter to Tom Hunter. President McDonald called for a motion on the minutes of the March 17th regular meeting. A motion was made by Hayes and seconded by Quintana to approve the minutes with notated correction. The motion carried with au unanimous vote of 7 - 0. FINANCIAL REPORT FOR MARCH 2025 Sales tax was discussed. Questions were asked and answered. A motion was made by Silwood and seconded by Hayes to accept the financial reports for March 2025. The motion carried with au unanimous vote 7 -0. CITIZEN'S OPPORTUNITY TO SPEAK President McDonald invited anyone who would like to address the Board regarding items on the agenda or other concerns not listed on the agenda to do sO now. Professor Carlos Roncal, 317 Reich St, spoke about a working relationship between the schools, local government and local businesses. RESOLUTION - FINANCING WATER TANK MAINTENANCE AND REPAIR Sarah Osburn, Director of Administrative Services, stated the tank maintenance and repair has been budgeted by a short-term note. Due to it not being a moveable property, it would have to be financed through Bonham Economic Development Corporation. This will work similar to loans we have done in the past. The loan will be in BEDCo' S name and they will make the payment. The city will budget a transfer to BEDCo, sO the city effectively makes the payment. This will be a ten-year note. Questions were asked and answered regarding the work being done on the tanks. A motion was made by Royse and was seconded by Quintana to adopt the Resolution approving a loan of the Bonham Economic Development Corporation to finance water tank maintenance and repair. The motion carried with a unanimous vote 7 - 0. EXECUTIVE DIRECTOR REPORT Joey Grisham, BEDCo Executive Director, spoke about downtown and what the priorities should be. The Downtown Master Plan was discussed. Signage and wayfinding are critical. Landscaping and street scaping needs were discussed. Mr. Grisham briefly explained what a Tax Increment Reinvestment Zone (TIRZ) is and the benefits of one. The board gave guidance to request proposals from companies who can assist with the TIRZ process. These proposals can be brought before the board possibly as early as the next meeting. Mr. Grisham advised Heritage Days and Vive le Bois D'arc events are coming up on May 3rd. There will be a lunch and learn at City Hall on May 2nd that will focus on economic development in rural communities. 158 04/21/2025 EXECUTIVE SESSION President McDonald recessed the meeting into closed executive session at 6:01 p.m. regarding economic development negotiations as permitted under Texas Government Code $551.087 and to discuss the purchase, exchange, lease, or value of real property as permitted under Texas Government Code $551.072. RECONVENE IN OPEN SESSION President McDonald reconvened the board into open public session at 6:31 p.m. A motion was made by Royse and seconded by Quintana to move forward with a downtown building grant for the property at 519 N. Main Street. The motion carried with a unanimous vote 7-0. A motion was made by Royse and seconded by Hayes to extend the contract with Goodwin on the commercial lot on 121 property to December 31, 2025. The motion carried with a unanimous vote 7 - 0. ADJOURN There was no further business to consider and a motion to adjourn was made by Quintana and was seconded by Hayes. The motion carried with a unanimous vote 7 - 0 and the meeting adjourned at 631 p.m. ine Alan McDonald, President ATTEST: eathu Atakton Heather Stockton, City Secretary 159