[00:02:00] YOU CAN DO THAT ONE, TOO. YEAH. OKAY. AND LET'S GO AHEAD AND START. GOOD EVENING. IT IS 5:32 P.M., AND I'D LIKE TO GET STARTED BY ASKING TO DO A ROLL CALL. PRESIDENT IS NOT HERE. HE HAS TO BE. PRESENT. HAPPY BIRTHDAY. DAVID, BY THE WAY. THANK YOU. MARK MORAN. RICHARD GONZALEZ. PRESENT. VERONICA GONZALEZ. PRESENT. SANDRA ALANIZ. PRESENT. WE HAVE QUORUM, SIR. OKAY. SEEING THAT WE HAVE QUORUM, I'D LIKE TO CALL THE MEETING TO ORDER AND ASK THAT WE DO THE PLEDGE OF ALLEGIANCE. I PLEDGE ALLEGIANCE TO THE FLAG OF THE UNITED STATES OF AMERICA. AND TO THE REPUBLIC FOR WHICH IT STANDS. ONE NATION UNDER GOD, INDIVISIBLE, WITH LIBERTY AND JUSTICE FOR [1. CALL TO ORDER, ESTABLISH AQUORUM A. Pledge of Allegiance.] [2. CERTIFICATION OF PUBLIC NOTICE] ALL. MR. CHAIRMAN, IF I MAY WE ALSO WANTED TO MAKE SURE THAT WE ANNOUNCED THAT WE HAD CERTIFIED THE MEETING, POSTED THE MEETING APPROPRIATELY ON FEBRUARY 28TH BY AT 5:00. OKAY. OKAY. THANK YOU. AND AND SINCE OMAR IS NOT HERE I WILL GO AHEAD AND READ ON. THE CONFLICT OF INTEREST. THE CONFLICT OF INTEREST EXISTS IF A BOARD MEMBER OR A MEMBER OF THAT PERSON'S FAMILY HAS A QUALIFYING FINANCIAL INTEREST IN AN AGENDA ITEM. IF THERE IS A CONFLICT OF INTEREST, THE BOARD MEMBER CANNOT PARTICIPATE IN THE DISCUSSION OR VOTE ON THE AGENDA ITEM. OR IS THERE ANY CONFLICTS OF INTEREST THAT ANYONE NEEDS TO DECLARE? NO. NO, SIR. NO, SIR. OKAY. [3. DISCLOSURE OF CONFLICT OF INTEREST] BEFORE WE MOVE ON TO ITEM FOUR, I'D LIKE TO TAKE THIS TIME TO TO WELCOME OUR NEW DIRECTOR, COUNCILMAN DAVID SALAZAR. WE WANT TO WELCOME YOU ON BEHALF OF THE STAFF, THE BOARD AND EVERYBODY ON EDC. I THINK HAVING DAVID ON BOARD IS GOING TO BE A VALUABLE ASSET TO THIS BOARD. AND WE WELCOME HIM TO EDC. WELCOME, DAVID. THANK YOU, THANK YOU, THANK YOU FOR TAKING THIS ON. THANK YOU. OKAY. MORE WORK FOR DAVID, RIGHT? YEAH. ALL RIGHT. SAMANTHA, DO WE HAVE ANY PUBLIC COMMENTS? NO. OKAY. NO. NO PUBLIC COMMENTS. THEN WE MOVE ON TO ITEM FIVE. A CONSIDER APPROVAL OF MINUTES FOR SPECIAL BOARD MEETING HELD ON JANUARY 20TH, [4. PUBLIC COMMENTS] 2025. THE MINUTES ARE IN THE PACKET AND SHOULD HAVE BEEN READ. ARE THERE ANY CHANGES TO THE MINUTES? NO. IF NOT, CAN I HAVE A MOTION TO APPROVE? MOTION. SECOND. SECOND. WE HAVE A MOTION TO APPROVE. AND A SECOND. ALL THOSE IN FAVOR, PLEASE SIGNIFY BY SAYING AYE. ALL THOSE OPPOSED. MOTION PASSES. ITEM FIVE B. PRESENTATION OF ANY QUARTERLY INVESTMENT REPORT DECEMBER 31ST, [00:05:02] 2024. HI THERE. IN YOUR PACKET, YOU HAVE A QUARTERLY INVESTMENT SUMMARY REPORT ON THE SECOND PAGE OF THAT ITEM. OUR BEGINNING BALANCE OF FUNDS IN TEXSTAR INVESTMENT POOL IS 9,281,850 AND $0.16. OUR EARNINGS FOR THAT QUARTER WERE 110,763 24, BRINGING OUR TOTAL ENDING BALANCE TO $9.392 MILLION. THAT IS BASICALLY A WEIGHTED AVERAGE YIELD OF ABOUT 4.72. [5. AGENDA ITEMS] THE NEXT PAGE HAS A BREAKDOWN ON THE DIFFERENT ITEMS THAT WE HAVE. [A. Consider approval of Minutes for the Special Board meeting held on January 20, 2025 B. Presentation of Quarterly Investment Report ending on December 31, 2024.] BUT THE FIRST PAGE JUST BASICALLY SUMMARIZED THOSE, THOSE FOUR FUNDS OR, I'M SORRY, FIVE FUNDS. IF THERE'S ANY QUESTIONS ON THAT, I'LL BE GLAD TO ANSWER ANY QUESTIONS. THESE ARE ALL THE BOND MONIES THAT WE HAVE THAT HAVE NOT BEEN EXPENDED, MOSTLY FOR PARKING, GARAGE AND WORKFORCE. RESOURCE CENTER. OKAY. AND SO THIS IS NOT AN ACTION ITEM. NO, IT'S JUST A PRESENTATION. OKAY. NOBODY HAS ANY QUESTIONS, LIZ. OKAY. SO WE'LL MOVE ON TO ITEM FIVE C. AND ITEM FIVE C IS CONSIDER APPROVAL OF SPONSORSHIP FOR SPINA BIFIDA 250 EVENT BY SUSAN SMILES FOUNDATION. SO GO AHEAD. THE SUSANNAH SMILES FOUNDATION PUTS ON A BIKE RIDE FROM EDINBURG NOW TO SAN [C. Consider approval of Sponsorship for "Spina Bifida 250" Event by Suzannah Smiles] ANTONIO EVERY YEAR TO RAISE FUNDS FOR KIDS WHO SUFFER FROM SPINA BIFIDA. BEFORE LAST YEAR, THEY STARTED IN MCALLEN, AND THEN HUNDREDS OF CYCLISTS WOULD RIDE TO TO FREER IN THE FIRST DAY, 140 MILES AND THEN 110 MILES THE SECOND DAY TO SAN ANTONIO, ALL IN EFFORTS TO JUST RAISE MONEY FOR A GOOD CAUSE, HELPING CHILDREN WHO ARE SUFFERING FROM SPINA BIFIDA. LAST YEAR THEY DECIDED TO MOVE IT TO EDINBURGH AND THE EDINBURGH CHAMBER, THROUGH THE CONVENTION AND VISITORS BUREAU, PARTICIPATED AND THEN ASKED US TO HELP WITH THE MARKETING ON SOME OF THAT. SO WE GOT OUR NAME ON THE JERSEY LAST YEAR, AND THIS YEAR THEY ASKED US FOR A SPONSORSHIP OF $5,000 TO DO THE SAME. AND SO THAT'S WHAT THEY'RE ASKING FOR. IT'S AN EVENT THAT IS REALLY IMPORTANT IN TERMS OF TRYING TO HELP KIDS OUT. I PERSONALLY PARTICIPATED IN THE SB 250 AND RODE THOSE 250 MILES. I RAISED OVER $3,000 FROM MY FAMILY AND FRIENDS MYSELF, AND WE'LL PLAN ON DOING IT AGAIN THIS YEAR. IT'S A TWO DAY EVENT. IT'S A TWO DAY EVENT, BUT IT'S REALLY MORE THAN THAT BECAUSE THEY COME IN EARLIER AND THERE'S A BUS LOAD THAT COMES IN FROM HOUSTON. A BUNCH OF CYCLISTS WHO ACTUALLY STAY IN OUR HOTELS, EAT IN OUR RESTAURANTS AND, AND THEN AND THEN TRAVEL UP NORTH. SO I NOTICE THAT THERE'S SEVERAL DIFFERENT 5000 SPONSORSHIPS. THERE'S THE RIDER NUTRITION SPONSOR, THAT'S 5000 SAFETY CREW SPONSOR, SWAG BAG SPONSOR AND THE SPINA BIFIDA FAMILY DINNER, RIO GRANDE VALLEY. WHICH ONE WOULD WE WHICH ONE WOULD WE DO? WHICH ONE WOULD GIVE US THE MOST BANG FOR OUR BUCK? WELL, I THINK THAT THEY ALL I MEAN, THEY ALL BASICALLY HAVE ABOUT THE SAME KIND OF ADVERTISING OPPORTUNITIES. SO IT REALLY THE MAIN THING IS THAT WE GET IN ALL OF THE LITERATURE AS A SPONSOR, WE GET ON THE CYCLING JERSEY AS A SPONSOR. AND AT THE $5,000 LEVEL, IT DOESN'T REALLY MATTER WHICH ONE. BUT EITHER EITHER ONE OF THEM COULD. COULD MAKE IT WORK IN TERMS OF THE THE FAMILY DINNER OR THE THE FINISH LINE CELEBRATION. ALSO IN SAN ANTONIO THEY'RE ALL BASICALLY THE SAME. THE SWAG BAG IS PROBABLY THE ONE THAT I WOULD WORK WITH THE MOST BECAUSE THEN WE CAN ALSO GET THE CHAMBER TO PUT IN SOME MONEY AND PUT IN SOME, SOME INFORMATION ABOUT EDINBURG. AND THAT'S WHY SWAG BAG AS WELL. THAT'S WHAT IT THAT'S WHAT IT SEEMED LIKE. LIKE THAT MIGHT BE THE BEST ONE. AND THEN WE COULD EVEN INCLUDE LIKE MAYBE SOME KOOZIES OR PENS OR SOMETHING THAT IDENTIFIES EDINBURG FOR THOSE THAT ARE. WELL, WE DID THAT LAST YEAR ALSO. OKAY. YEAH. AND HOW MANY PEOPLE ARE THEY EXPECTING? LAST YEAR THEY HAD WELL OVER 120 RIDERS. BUT THEN THERE'S A LOT OF FAMILY THAT COMES WITH THEM AND A FAMILY THAT TRAVELS ALONG WITH THEM. SO I MEAN, THEY FILL UP THE HOTELS RIGHT ON TRENTON ROAD. AND THAT'S WHERE WE STARTED AT THE COURTYARD LAST YEAR, NOT THE COURTYARD. I'M SORRY. THE THE TOWN TOWNEPLACE SUITES. OKAY. AND STAFF IS RECOMMENDING THE $5,000 SPONSOR. YES, SIR. OKAY. ANYBODY HAVE ANY OTHER QUESTIONS? [00:10:04] OKAY, THEN CAN I HAVE A MOTION TO APPROVE $5,000 SPONSORSHIP MOTION SECOND. SECOND. WE HAVE A FIRST AND A SECOND. ANYBODY? OKAY, WELL, THEN LET ME CALL FOR A VOTE. ALL THOSE IN FAVOR SIGNIFY BY SAYING AYE. AYE. ALL THOSE OPPOSED. MOTION PASSES. ALL RIGHT. NEXT ITEM IS ITEM FIVE D CONSIDER APPROVAL FOR INCENTIVE DISBURSEMENT TO DOMAIN DEVELOPMENT IN THE AMOUNT OF $200,000 FOR BRENTWOOD PLAZA. IF WE COULD TAKE BOTH D AND E AT THE SAME TIME, THEY'RE BASICALLY THE SAME. DEVELOPER BOTH BRENTWOOD AND HYDE PARK PLAZA'S DOMAIN. DEVELOPMENT HAS FINISHED BOTH OF THE. [D. Consider approval incentive disbursement to Domain Development in the amount of] [E. Consider approval incentive disbursement to Domain Development in the amount of] STRIP CENTERS, AND IS ALMOST COMPLETE IN TERMS OF LEASING OUT MOST OF THE SPACE, BUT THEY ARE COMPLETE IN TERMS OF THE INVESTMENT AND THE REQUIREMENTS THAT THEY HAD FOR EARNING THE $2000 OR $200,000 FROM EACH OF THE DEVELOPMENTS, SO THAT WE CAN TAKE THEM TOGETHER IF YOU ALL WANT TO. SO THIS IS JUST COMPLYING WITH OUR CONTRACT? YEAH. OUR CONTRACT REQUIRES THAT THE BOARD APPROVE THE DISBURSEMENT OF THE $200,000 FOR EACH OF THOSE DEVELOPMENTS. OKAY. AND THESE ARE FOR AGREEMENTS THAT WE'VE ALREADY MADE PREVIOUSLY. YES. CORRECT. AND THEY WERE APPROVED BY COUNCIL AT THAT TIME AS WELL. OKAY. WHO VERIFIES THIS? THAT THAT'S SOMETHING THAT WE DO INTERNALLY. INTERNALLY. STAFF VERIFIES THE INFORMATION. I MEAN, IT'S ABOUT THAT MUCH ON EACH DEVELOPMENT IN TERMS OF THE RECEIPTS THAT WERE SUBMITTED TO US. BUT OUR STAFF WENT THROUGH EACH OF THE DIFFERENT DOCUMENTS AND EACH OF THE REQUISITES. AND THEN WE SUBMIT THAT TO THE FINANCE DEPARTMENT AS WELL. SO THEY HAVE THE ABILITY TO, TO CONFER AND, AND CONCUR WITH OUR ASSESSMENT, BUT THEY ALSO HAVE TO CERTIFY THAT THEY, THAT THEY ARE COMPLYING WITH ALL OF THE REQUIREMENTS IN THE AGREEMENT AS WELL. RIGHT. SO WE'RE TAKING ITEM D AND E TOGETHER. AND THAT WAY WE CAN CALL A VOTE ON BOTH. SURE. OKAY. I'LL MAKE THE MOTION TO APPROVE D AND E SECOND THAT MOTION. OKAY. WE HAVE A MOTION TO APPROVE. ALL THOSE IN FAVOR, PLEASE SIGNIFY BY RAISING YOUR RIGHT HAND. ALL THOSE OPPOSED? MOTION PASSES. OKAY. NEXT ITEM. I GUESS WE'RE NEXT ITEM IS A MOTION TO GO INTO EXECUTIVE SESSION. CAN I HAVE A MOTION TO GO INTO EXECUTIVE SESSION? SECOND. WE HAVE A FIRST AND A SECOND. ALL THOSE IN FAVOR, PLEASE SIGNIFY. ALL THOSE OPPOSED? ITEM PASSES. WE'RE GOING INTO EXECUTIVE SESSION. THANK YOU GUYS VERY MUCH. ALL RIGHT. [6. EXECUTIVE SESSION] [03:45:37] YEAH. THAT'S WHAT I DO. [03:45:43] OKAY. IT IS 9:15 P.M. TONIGHT, AND WE'RE ENTERING INTO OPEN SESSION. [03:45:50] CAN I HAVE A MOTION TO ENTER INTO OPEN SESSION? [03:45:52] SO MOVED. SECOND. MR.. [03:45:55] I'LL GIVE IT TO YOU. OKAY. [03:45:57] ALL THOSE IN FAVOR? AYE. [03:45:59] ALL THOSE OPPOSED? OKAY. [03:46:01] WE ARE IN OPEN SESSION. [03:46:03] NO, I'M GOOD WITH YOU. I NEED A MOTION TO PROCEED. [03:46:06] AS DISCUSSED IN EXECUTIVE SESSION ON ITEM 61, [03:46:09] 64, 65, 66, 68, AND 61. [03:46:16] CAN I MOVE A MOTION? SO MOVED. [03:46:19] SECOND. SECOND. I HAVE FIRST AND SECOND. [03:46:21] ALL THOSE IN FAVOR SAY AYE. [03:46:22] RAISE YOUR RIGHT HAND. ALL THOSE OPPOSED? [03:46:25] MOTION PASSES. THE NEXT ITEM I'M GOING TO STEP OUT OF THAT DISCUSSION AND PASS IT OVER [03:46:32] TO MARK. ALL RIGHT. THANK YOU. [C. Personnel Matters (§551.074 Personnel Matters)] [03:46:35] I'D LIKE TO GO AHEAD AND OPEN ITEM SIX A FOR A MOTION TO APPOINT POWELL LAW GROUP AND RE [B. Deliberation regarding economic development projects and possible action related ot projects (8551.087 Deliberation Regarding Economic Development Negotiations; §551.071 Consultation with Attorney; §551.072 Deliberation Regarding Real Property; Closed Meeting).] [03:46:42] LEGAL LAW. FOR FOR THEM TO BE OUR ATTORNEY FOR THE EDC CONTINGENT UPON TERMS DISCUSSED [03:46:50] IN EXECUTIVE SESSION. MOTION. [A. Consultation with Attorney (§551.071. Consultation with Attorney; Closed Meeting) 1. Discussion of Duties, Responsibilities, Renumeration, and Possible Action Regarding Appointment of an EDC Attorney. (§551.074 Personnel Matters and §551.071. Consultation with Attorney; Closed Meeting)] [03:46:53] SECOND. ALL THOSE IN FAVOR? [03:46:57] CALL THE VOTE. ALL THOSE IN FAVOR, PLEASE RAISE YOUR RIGHT HAND. [03:47:00] ALL THOSE OPPOSED? SAME SIGN. [03:47:02] NINE. MOTION CARRIES. OKAY, THEN. [03:47:05] I NEED A MOTION TO TERMINATE OUR MEETING. [03:47:07] WE'RE DONE. STAFF REPORTS. [03:47:11] STAFF REPORTS. I THOUGHT WE COULD GO HOME ALREADY. [03:47:14] YEAH. LET ME GET THERE. [03:47:16] HOPEFULLY YOU ALL CAN HAVE TIME TO READ THEM LATER ON. [03:47:20] SO. YEAH. WE'RE GOOD. WE'RE GOOD. [03:47:23] YEAH. OKAY. I'LL MAKE THE MOTION TO ADJOURN. [03:47:26] OKAY. WE HAVE A FIRST AND A SECOND. [03:47:29] OKAY. WE ADJOURN. THANK YOU. [03:47:32] YEAH. OH. * This transcript was compiled from uncorrected Closed Captioning.