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PEDC Board Meeting Minutes Tuesday; April 19, 2022 Page 3 of 4 net position of approximately $6 million. On the income statement, total revenues for the month were $153,757, most of which was from sales tax, and expenses were $46,345, leaving a net position for the month at roughly $107,000. There were no unusual expenses for the month. Dr. Hashmi made the motion to approve financials for the month of March. Mr. Roddy seconded the motion. Vote: 7 -ayes to 0 -nays Consider Action on report from Policy Review Committee on proposed by-law amendments. Ms. Hammond began the discussion by mentioning that last month Mr. Gain went through the proposed amendments and the Board considered them but did not take action. Proposed changes included: in Section 4.03 language changed to designate the Development Corporation Act of 1979 instead of state law, and item 7 in that section has had the date for the annual presentation to the city removed. Section 5.02 has been changed to reflect the Council Chambers as the monthly meeting location for the Board, and instead of three consecutive absences triggering potential removal of a Board member, the language was changed to "persistent absences." The required time for board consideration of the annual budget was changed from June to July, and submission of the budget to the City was moved from July to August. Mr. Bray added that the Board should vote to approve the amendments as written to send to the City Council for final approval. Mr. Fendley made a motion to approve the amendments. Mr. Coleman seconded the motion. Vote was 7 -ayes to 0 -nays Review and Discuss report from executive director, Maureen Hammond • Business Industry Survey Program • The program is going well - as of 2022, there have been 8 site visits with primary employers. There will be a report on the survey findings towards the end of the year, and Ms. Hammond hopes to double the number of visits by the end of the summer. Lot Clearing and Cleanup of PEDC Sites • Staff has drafted a request for bids to clear the newly acquired properties on the SW Loop, and those bids will hopefully be available for the Board to consider during the next monthly meeting. Branding/Identity Project • North Star will be providing an educational presentation to the City on May 9" and will be performing multiple interviews May 10-12. They have also developed a website called distinctivelyparis.com that will be used to distribute surveys and help inform the public about the project. Convene into Executive Session: 1) 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: • Project Red Maple • Project Rocket X • Project Athens Chairman Bray convened the Board into Executive Session at 6:25 p.m.