BUDA Economic Development Corporation MEETING MINUTES 4.24.25 CALLTO ORDER President Celeste Medulla called the meeting to order at 6:01 pm. ROLLCALL A quorum was achieved with the following board members present: President Celeste Medulla Vice President Jim Niemie Secretary/lreasurer Betsy Urban Board Member Evan Ture excused Board Member Julia Davis Board Member Matt Smith excused Board Member Megan Brown Buda EDC Staff in attendance included CEO Jennifer Storm, Assistant Director Recruiting & Development Brian Dyer, Assistant Director Small Business Initiatives Jacqueline Martinez, Sr. Administrative Associate Shannon Cameron, and EDC Attorney Josh Brockman Weber. PUBLIC COMMENTSPUBLIC TESTIMONY None. PUBLIC HEARING 4.1. LEAP - Local Enterprise Assistance Program: Discussion and possible action to authorize performance agreements and economic development incentives in an amount not to exceed Ten Thousand Dollars ($10,000.00) each with the following businesses in exchange for economic development obligations to the Buda EDC: Latigo LLC - $7,000.00 Shred 512 Fitness - $5,000.00 Zoi Market/Meridian - $3,000.00 Saint Montogren's Florist - $5,900.00 Item 4.1: Opened public hearing at 6:03 pm; seeing none. Closed at 6:03pm. 4.2. Financial expenditures not to exceed $45,000.00 in support of the Railcar Revival music festival produced by Puente Alto, LLC to promote new or expanded business development in Buda. Item 4.2: Opened public hearing at 6:04 pm; seeing none. Closed at 6:04 pm. 4.3 Medium Incentive: Financial Incentive in an amount not to exceed Forty-Two Thousand and No/100 Dollars ($42,000.00) for Project Steam Pan in exchange for economic obligations to the Buda EDC. Item 4.3: Opened public hearing at 6:05 pm; seeing none. Closed at 6:05 pm. 4.4 Medium Incentive: Financial incentive in an amount not to exceed Twenty-Three Thousand and No/100 Dollars ($23,000.00) for Project Summer Teeth in exchange for economic obligations to the Buda EDC. Item 4.4: Opened public hearing at 6:05 pm; seeing none. Closed at 6:05 pm. 4.5 Large Incentive: Financial incentives and related budget amendment in an amount not to exceed Two Hundred Eleven Thousand and No/100 Dollars ($ 211,000.00) for Project Earl of Sandwich in exchange for economic obligations to the Buda EDC. Item 4.5: Opened public hearing at 6:05 pm; seeing none. Closed at 6:05 pm. 4.6 Large Incentive: Financial incentives and related budget amendment in an amount not to exceed One Hundred Fifty Thousand and No/100 Dollars ($150,000.00) in additional expenditures for Project Sprinter in support of roadway improvementshraffic signal at FM 967 and Oyster Creek. Item 4.6: Opened public hearing at 6:05 pm; seeing none. Closed at 6:05 pm. STAFF REPORTS OF BUDA EDC MONTHLY ACTIVITIES- DISCUSSION ONLY - NOACTIONTAKEN (1) CEO Report on EDC operations and activilies; (2) Staff Report on recruitment and development activities; (3) Staff Report on small business initiatives; (4) Staff Report on marketing activities. ITEMS OF COMMUNITY INTEREST PRESENTATION 7.1 Presentation by Bethany Kocian of Highbridge Events regarding 2024 Railcar Revival event recap provided the EDC Board with an overview of the attendees (over 5,000 tickets sold) and success of the event in 7.2 Presentation of the Fiscal Year 2024 Annual EDC Financial Report and Audit by Rebecca Darling of Weaver and Tidwell, L.L.P. and Angela Verduzco, Assistant Finance Director, City of Buda. CONSENT AGENDA (PUBLIC TESTIMONY) 8.1. Approval of the February 28, 2025 Financial Report. 8.2. Approval of the February 28, 2025 Meeder Investment Report. 8.3. Approval of the March 27, 2025 Regular Board Meeting Minutes. 8.4 Acknowledgement of completion of the Fiscal Year 2024 Annual Financial Report and Audit as it relates to the City of Buda 4B Corporation as a component unit. 8.5 Ratification of prior board action at March 27, 2025 meeting and approval of the following items: 8.5.1 Approve and authorize a performance agreement and economic development incentives in an amount not to exceed Ten Thousand Dollars ($10,000.00) each with the following businesses in exchange for economic development obligations to the Buda EDC: Budaful Threads - Equipment & Software - $10,000.00. 8.5.2. Approval of Jennifer Storm and Brian Dyer as Buda EDC representatives to the Historic Preservation Committee Guidelines Committee. 8.5.3 Approval of financial incentives and a performance agreement in an amount not to exceed Forty-Two Thousand and No/100 Dollars ($42,000.00) for Project Steam Pan in exchange for economic obligations to the Buda EDC. 8.5.4 Approval of financial incentives and a performance agreement in an amount not to exceed Twenty-Three Thousand and No/100 Dollars ($23,000.00) for Project Summer Teeth in exchange for economic obligations to the Buda EDC. 8.5.5 Approval of financial incentives and a performance agreement and related budget amendment in an amount not to exceed Two Hundred Eleven Thousand and No/100 Dollars ($211,000.00) for Project Earl of Sandwich in exchange for economic obligations to the Buda EDC. 8.5.6 Approval of financial incentives and related budget amendment in an amount not to exceed One Hundred Fifty Thousand and No/100 Dollars ($150,000.00) in additional expenditures for Project Sprinter in support of roadway improvements/raffic signal at FM 967 and Oyster Creek. Motion, to approve the Consent Agenda, as presented, was made by Member Jim Niemie and seconded by Member Julia Davis. Motion carried unanimously. GENERAL AGENDA ITEMS 9.1. LEAP - Local Enterprise Assistance Program: Approval of performance agreements and economic development incentives in an amount not to exceed Ten Thousand Dollars ($10,000.00) each with the following businesses in exchange for economic development obligations to the Buda EDC: Latigo LLC - $7,000.00 Shred 512 Fitness - $5,000.00 Zoi Market/Meridian - $3,000.00 Saint Montogren's Florist - $5,900.00 Item was presented along with background by Jacquie Martinez. LEAP Committee unanimously voted to approval the list of incentive recommendations to the Board. Discussion was had on a few specifics related to the applicants with additional information being shared regarding specifics on each projects' approval. Motion, to approve was made by Member Celeste Medulla and seconded by Member Jim Niemie. Motion carried unanimously. 9.2. Discussion and possible action to approve financial expenditures not to exceed $45,000.00 in support of the Railcar Revival music festival produced by Puente Alto, LLC to promote new or expanded business development in Buda. Background information was presented by Jennifer Storm and general discussion was held. Motion, to approve was made by Member Celeste Medulla and seconded by Member Betsy Urban. Motion carried unanimously. 9.3. Discussion and possible action to approval alternative meeting dates for the EDC Board of Directors Regular Board Meeting schedule through December 2025. Background information was presented by Jennifer Storm. Motion, to approve as presented, was made by Member Celeste Medulla and seconded by Member Megan Brown. Motion carried unanimously. FUTURE AGENDA ITEMS None. ADJOURNMENT There being no further business, the meeting was adjourned by President Celeste Medulla at 6:50 pm. 1 the undersigned authority, hereby certify that this meeting's minutes consist of the preceding Minute Record and the Supplemental Minute Record (if applicable). ATTEST: - hizl Celeste Medulla, President Boson - - AOPN A Betsy Urban, Secretary/Treasurer