MINUTES OF THE MAY 19, 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.. Absent CALL TO ORDER President Alan McDonald called the meeting to order noting that a quorum was present. MINUTES President McDonald called for a motion on the minutes of the April 21st regular meeting. A motion was made by Quintana and seconded by Hayes to approve the minutes as written. The motion carried with a unanimous vote of 6 - 0. FINANCIAL REPORT FOR APRIL 2025 The board complemented city staff on the new format for the financial report. A motion was made by Hayes and seconded by Quintana to accept the financial reports for April 2025. The motion carried with a unanimous vote 6- 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. Raul and Robin Van-Eck, 402 N Center St, will be starting a music school in the Bill Terry building. PROFESSIONAL SERVICE AGREEMENT - TAX INCREMENT FINANCING DISTRICT Joey Grisham, BEDCO Executive Director, gave a brief explanation of a Tax Increment Reinvestment Zone (TIRZ) and the steps needed to create one. Staff advised we have two proposals for a Professional Services Agreement to help us through the process. Mr. Grisham advised both are reputable firms. Mr. Grisham gave a brief overview of each firm's qualifications. The price is very comparable. Questions were asked and answered. A motion was made by Royse and was seconded by Hayes to move forward with Catalyst Commercial. The motion carried with a unanimous vote 6-0. EXECUTIVE DIRECTOR REPORT Joey Grisham, BEDCo Executive Director, stated Mark Posey is still working on trying to attract people/businesses to downtown. Melisa Maxwell, Director of Tourism, stated Heritage Days was a success and thanked everyone for their help. Mr. Grisham stated we are waiting to hear back on a few leads for the Business Park. Work will be starting on the access road on the 121 property. The Beyond the Brochure event was a success. There will be a bog TCOG event on November 5, 2025. EXECUTIVE SESSION President McDonald recessed the meeting into closed executive session at 5:48 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 6:08 p.m. A motion was made by Royse and seconded by Hayes to move forward with a grant for 503 N Main St pending HARC approval. The motion carried with a 5- 0 vote. Quintana abstained. 160 05/19/2025 ADJOURN There was no further business to consider and a motion to adjourn was made by Royse and was seconded by Quintana. The motion carried with a unanimous vote 6 - 0 and the meeting adjourned at 6:09 p.m. hhe Alan McDonald, President ATTEST: Hectlw Ahkion Heather Stockton, City Secretary 161