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PEDC Board Meeting Minutes May 16, 2017 Page 2 of 4 TEDC Membership is a yearly fee of $500.00. The total expenses for the month of April were $91,239.43. On the last page of the spreadsheet under Cash Flow Analysis the revenue shows $102,000.00 and expense shows $91,000.00. Mr. Wilson gave us the Total Cash & Reserve for the month of April $3,470,735.44. He also told us that this was the last year we would be paying into the I & S and Reserve Balance Fund since the last year of the bond payment has already been encumbered. Mr. Banks asked about the year -end balances of the Lone Star and Texas CLASS Investment Pools. Mr. Paris said that after accessing the numbers on both balance sheets that the Investment Pool numbers have not changed since the end of September 2016. He will ask Gene if there is another account that interest is located in for the Investment Pools. Mr. Banks was looking for a difference in the numbers from the end of last year until now or a line item that showed interest earned. Mr. Wilson stated that pooled accounting has a lot of entities working with your money. Mr. Banks made a motion to accept the April 2017 Financials. A second was made by Mr. Brockman. Vote was 4 -ayes to 0 -nays. Discuss and possibly approve a resolution for SuRRMA's request for support in the amount of $2000 within the PEDC 2016 -2017 Budget. Mr. Manning read the caption to the resolution. Ms. Harris stated that this resolution was the result of the discussions at the last Board meeting. The resolution has the factual findings in support of the promotional expense in the amount of $2000.00 to SuRRMA. Mr. Brockman made a motion to accept the resolution as written. A second was made by Mr. Wilson. Vote was 3 -ayes to 1 -nay. Mr. Banks was the nay vote. Executive Director's Monthly Report. • Project Wind Cave came to us from the Governor's Office. This is a tubing extraction company making tubes for the oil field industry and the Houston area. The company is Spanish with an executive for the company in the Houston area. This was $55 million investment and 120 jobs. Paris missed on Project Wind Cave. We were in the top three with our incentives; including the New Market Tax Credits, where between 20 -25% of the cost is given as cash up front to the investing business. We would have come up with more incentives to help with the modification of a building; but after they considered our existing building, they decided it would cost more to modify the building than construct a new building. The other three communities in the running are all in Texas and they all have existing buildings. • Site Selector Consultants Strategic Development Group approached us about Project DS. Project DS is looking for 20 -50 acres, a new build of 30,000 - 50,000 sq. ft., and about 40 jobs. We promoted the Build to Suit at 2305 NW 286. They are looking for rail which can be accessed by the site. We took their request to Kiamichi Rail and the answer was that it will take six to eight weeks with a cost of six figures to have the tracks ready. When asked more of the six figures, the answer was below a million. Mr. Paris has tried to contact Project DS by email several times and has had no