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PEDC Board Meeting Minutes Tuesday; August 16, 2022 Page 2 of 3 Update on the August 2022 Financial Statements Mr. Bray stated that August financials had not been received. He briefly reminded the board about the preparation process for financial statements whereas City staff prepare the financial reports which are then sent to Wells and Kapp CPAs for formatting. Chairman Bray asked the board to table the item until the next agenda. Dr. Hashmi made the motion to table financials for the month of August. Mr. Terrell seconded the motion. Vote: 6 -ayes to 0 -nays Review and Discuss Report from Executive Director Maureen Hammond North Star Branding Proiect: Ms. Hammond offered an update on the process, explaining that the team has reached the "Creative" phase of the project. She noted that there are nine members serving on a Creative Committee, including PEDC Board Member Mr. Terrell. Deliverables from this phase will include a logo with two different visual looks, messaging, brand style guide, and three to four custom deliverables for each entity, including social media, interior and exterior signage, banners and other items. Ms. Hammond continued by stating that the final phase will include a report and presentation, followed by community rollout and public relations strategy. North Star will function as a guide during this process. EDA Grant for NW Industrial Park: Ms. Hammond reported that earlier in the year the PEDC submitted an EDA grant for infrastructure improvements for the Northwest Industrial Park. She added that this round of funding was oversubscribed due to a record number of grant applicants but explained that a new round of funding would open Oct. 1, 2022. In response to this, Ms. Hammond informed that she resubmitted application to the EDA for the October funding opportunity with a 70/30 match instead of 80/20. No questions followed these updates. 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 Rocket X • Project Red Oak • Project Red Maple 2) Pursuant to Section 551.072 of the Texas Government Code to discuss and deliberate the purchase, exchange, lease, or value of real property. Chairman Bray convened the Board into Executive Session at 5:35 p.m. Reconvene into Open Session and Consider Action on Item(s) Discussed in Executive Session Chairman Bray reconvened the Board into Open Session at 6:06 p.m. No action was taken on items from executive session.