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PEDC Board Meeting Minutes Tuesday, April 18, 2023 Page 2 of 4 Citizens' Input Chairman Bray invited those present to speak during the Citizens' Input. No one came forward and the Citizens' Input was closed. Discuss and Consider Approval of the Minutes of the Regular Meeting held February 21, 2023 Dr. Hashmi made a motion to approve the March 21, 2023, minutes. Mr. Roddy seconded the motion. Vote: 6 -ayes to 0 -nays Discuss and Consider Approval of the February 2023 Financial Statements Ms. Hammond presented the financial reports ending March 31, 2023. She reported that the PEDC total assets are $9.1 million with roughly $5 million in investments, leaving the PEDC with a net position of $ 6.8 million. Ms. Hammond noted the investment account is currently gaining 4.86%. She concluded the financial report by stating that there was nothing out of the ordinary and offered to answer any questions. Mr. Fendley moved to approve the March 2023 financial reports. Mr. Terrell seconded the motion. Vote: 6 -ayes to 0 -nays Discuss and Consider Approval of Agreement(s) related to the EDA Grant for Northwest Industrial Park Ms. Hammond conveyed that on April 4, 2023, the PEDC was awarded $1.3 million in federal funding from the U.S. Economic Development Administration to support infrastructure improvements in PEDC-owned Northwest Industrial Park. She went on to express her excitement about receiving the 70/30 match grant and thanked the City Council and Staff for their support of in-kind contributions of water lines. Ms. Hammond recalled the February 19, 2022, PEDC Board Meeting when the board authorized the EDA grant application for completion and submission. At that time, the board designated EST, Inc.to provide engineering services and ATCOG to act as the administrator for the grant. Ms. Hammond explained that approval was needed by the Board to reaffirm selection of EST and ATCOG now that the grant has been awarded. Dr. Hashmi made the motion to approve the EST, Inc. Engineering Services Agreement as presented. Mr. Homer seconded the motion. Vote: 6 -ayes to 0 -nays Mr. Fendley made the motion to approve the Ark -Tex Council of Governments (ATCOG) Management/Administration Services Agreement as presented. Dr. Hashmi seconded the motion. Vote: 6 -ayes to 0 -nays Chairman Bray reiterated Ms. Hammond's previous statement by expressing appreciation to Council for their support with regard to their contribution of infrastructure improvements as part of the grant application. Report by Executive Director Maureen Hammond Lionshead Specialty Tire & Wheel, LLC.: Ms. Hammond gave a brief update on Lionshead by stating things are moving forward with ongoing city development agreement negotiations and encouraged those that haven't seen progress at the NW Industrial Park, to make an effort to do so.