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PEDC Board Meeting Minutes <br />November 25, 2019 <br />Page 4 of 4 <br />Convene into Executive Session: <br />1) Pursuant to Section 551.087 of the Texas Government Code to (1) discuss or <br />deliberate regarding commercial or financial information that the governmental body <br />has received from a business prospect that the governmental body seeks to have <br />locate, stay, or expand in or near the territory of the governmental body and with <br />which the governmental body is conducting economic development negotiations; or <br />(2) to deliberate the offer of a financial or other incentive to a business prospect <br />described by Subdivision (1), to wit: <br />• Project Rocket X <br />• Project Rainwater Falls <br />2) Pursuant to Section 551.072 of the Texas Government Code to discuss and deliberate <br />the purchase, exchange, lease, or value of real property. <br />• Real Estate <br />Chairman Hernandez convened the Board into Executive Session at 6:05 p.m. <br />Reconvene into O yen Session ecutive Session. <br />Chairman Hernandez reconvened the Board into open session at 6:25 p.m. Dr. Hashmi made a motion to <br />accept as proposed on the Project Rocket X and take the proposed back to the company for their response. <br />Mr. Pankaj seconded the motion. Vote was 4 -ayes to 0 -nays. <br />Discuss Future Agenda Items. <br />No future agenda items were discussed. <br />A4iourn <br />Mr. Pankaj made a motion to adjourn. Dr. Hashmi seconded the motion. Vote was 4 -ayes to 0 -nays. The <br />meeting adjourned at 6:27 p.m. <br />Respectfully submitted, <br />Paula Brownfield <br />Administrative Assistant <br />Paris Economic Development Corporation <br />