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PEDC Board Meeting Minutes June 16, 2020 Page 4 of 5 $100,000.00 for improvements that are not completed until next year. Our total budget shows an 8% decrease in spending. To be conservative, the Tax Income for next year is staying the same in our budget. Dr. Hashmi asked if the PEDC needed all the money that is proposed in the Marketing Budget. Mr. Hernandez stated that we left the marketing amount the same; even though conferences were not attended over the last several months. He went on to say that the amount was most likely more than needed in Marketing. Dr. Hashmi made a motion to approve the 2020-2021 PEDC Budget. Mr. Hamill seconded the motion. Vote was 5 -ayes to 0 -nays. Protect Uodates: • J. Skinner Bakery — the PEDC signed the agreement for jobs with them. Skinner will be delaying the start of two new production lines until the first of the year. The rail construction will be completed the end of August or first part of September. • American Spiraffeld Pipe — rail will be completed in September. The company is planning to start production in December. Two key people have been hired by ASWP, these are local people. Before convenin into Executive Session Dr. Hashmi asked to make a motion to take #3), review and possibly select executive director from candidates, out of Executive Session and place in Open Session. Mr. Pankaj seconded the motion. Vote was 4 -ayes to 1 -nays. Ms. Bills was the nay vote. Mr. Hernandez stated the candidate selection was very close. Dr. Hashmi made a motion to select Maureen Hammond as the new PEDC Executive Director. Ms. Bills seconded the motion. Vote was 5 -ayes to 0 -nays. Mr. Hernandez asked the Board for a motion to approve him to negotiate the employment of Ms. Hammond. Dr. Hashmi made a motion to allow Mr. Hernandez to negotiate with Ms. Hammond. Mr. Pankaj seconded the motion. Vote was 5 -ayes to 0 -nays. Convene into Executive Session: 1) Pursuant to Section 551.072 of the Texas Government Code to discuss and deliberate the purchase, exchange, lease, or value of real property. 2) Pursuant to Section 551.087 of the Texas Government Code to (1) discuss or deliberate regarding commercial or financial information that the governmental body has received from a business prospect that the governmental body seeks to have locate, stay, or expand in or near the territory of the governmental body and with which the governmental body is conducting economic development negotiations; or (2) to deliberate the offer of a financial or other incentive to a business prospect described by Subdivision (1), to wit: • D6 • Lionshead • Project ??? 3) Pursuant to Section 551.074 of the Texas Government Code: 1) to deliberate the appointment, employment, evaluation, reassignment, duties, discipline or dismissal of a public officer or employee: or 2) to hear a complaint to charge against an officer or employee. • Review and possibly select executive director from candidates Chairman Hernandez convened the Board into Executive Session at 6:57 p.m.