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Ms. Harris stated that on June 9th, 2025, City Council approved an agreement with Invest Lamar, LLC which includes a residential tax abatement on 10 parcels within the 5 in 5 program area. One of those parcels, LCAD #19930, located at 115 W. Neagle St., is within TIRZ Sub -Zone 5. As of 1/1/2025, the assessed taxable value of the parcel was $2,250.00, and Invest Lamar, LLC plans to construct a single-family home with an estimated investment of $220,000.00 thereon. Tax abatements granted on residences constructed under the 5 in 5 program are for 5 years at 100% per year. The Texas Tax Code requires that the TIRZ board approve any tax abatement agreements on property in the Zone. Very little of the 5 in 5 program area overlaps with any of the TIRZ Sub -Zones, but this particular agreement has the one parcel that is in both. A Motion to approve the Residential Tax Abatement Agreement with Invest Lamar, LLC under the 5 in 5 Housing Infill Development Program was made by Ms. Norwood and seconded by Mr. Cecil. Motion carried 6 ayes — 0 nays. 7. Overview of Current TIRZ Account Balance and projected revenue. Ms. Harris reported that the current TIRZ fund balance is $252,097.66. She noted that the bank statement may reflect a balance of $272,097.66; however, she discovered that a $20,000.00 payment to Forked Pine Consulting had been mistakenly charged to the General Operating Fund instead of the TIRZ Fund. After making the appropriate correction, the accurate TIRZ balance is $252,097.66. Ms. Harris further explained that she, Mr. Mathieu, and Mr. Hayter have been working with the Financial Projection Tool and have identified an error in the spreadsheet. She advised that all financial discussions and projections be paused until the data can be fully verified. Mr. Mathieu recommended tabling Agenda Item 8 (Finance Plan) until he can speak with Mr. Denney regarding the tool. 8. Discussion and approval of revised Finance Plan including discussion of timeline for annual review of same and review of Forked Pine Consulting's Summary and Recommendation Report. A Motion to table this item was made by Mr. Mathieu and seconded by Ms. Hammond. Motion carried 6 ayes — 0 nays. 9. Approve allocating $100,000.00 of TIRZ funds to support the 1 st Street Renovation Project. Following some discussion, a Motion to approve allocating $100,000.00 of TIRZ funds to support the 1 st Street Renovation Project was made by Ms. Hammond and seconded by Mr. Mathieu. Motion carried 6 ayes — 0 nays. Mr. Hayter arrived at 4:22 P.M. 10. Discuss next steps for updating the TIRZ Project Plan. Ms. Harris stated that City Manager Rose Beverly had been in contact with Mr. Chris Lambka of Chris Lambka & Associates and invited anyone interested to attend a workshop he will be conducting in August in Denison. She noted that Mr. Lambka has a history of assisting cities by breaking plans into smaller, manageable steps, making them more achievable. Mr. Hayter suggested the board consider pausing until it is decided which zones the funds should be allocated to. Chairman Head stated that since the available funds are less than originally expected, it would make more sense to focus on projects that would benefit all zones, even if they are in Zone 2, rather than splitting the money into smaller portions. Page 2 of 3