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EXAS � O' MIC IDEVEILOPM t C � I� OR STI rip ra II5 r r :rr i r Reach rac 1 i 11 l'y'.jl°„ Discuss and Consider Approval of the August 19, 2025, Meeting Minutes Chairman Bray presented the August 19, 2025, meeting minutes for review and discussion. Mr. Fendley made a motion to approve the minutes as presented. Mr. Roddy seconded the motion. Vote: 5 -ayes to 0 -nays Discuss and Consider Approval of the August 2025 Financial Statements Executive Director Maureen Hammond presented financial reports ending August 31, 2025. Total assets were reported to be $10,933,330. Total liabilities were reported to be $1,988,519, leaving the PEDC with a total net position of $8,944,811. Ms. Hammond continued with the income statement for the month, citing the reported total revenue as $214,461. She continued the financial report for the month of August by presenting total expenditures and net income for the month. Ms. Hammond commented that sales tax revenues for the fiscal year were ahead of budget, while expenses were under budget. She noted that the PEDC anticipates providing incentive payments within the next month. She further noted that the PEDC had received a second pay request for the EDA Grant totaling approximately $504,000, and that this payment would be reflected in next month's financials. Ms. Hammond opened the floor to questions regarding the August financial reports. Mr. Bray asked if the remaining EDA Grant balance was resolved with the recent payment. Ms. Hammond noted approximately 1 million dollars have been reimbursed to -date of the 1.3 million dollar grant. There were no further questions. Mr. Roddy made a motion to approve the financial statements as presented. Mr. Homer seconded the motion. Vote: 5 -ayes to 0 -nays Report on Committees to be Appointed by Board Chairperson Chairman Bray reminded the Board that, as a result of discussions during the Board Planning Session earlier this year, he had considered establishing additional committees to focus on the future goals of the Board. He suggested the formation of an Entrepreneurship Committee and a Building Committee. He elaborated on the objectives of the Building Committee, noting that its initial aim would be the research and consideration of constructing a spec building and to review the cost of constructing a new office building for the PEDC. He noted that he would be contacting members of the Board within the coming week to discuss the formation of these committees and consider any desired changes to existing committees. He reminded the Board that these committees would convene on an as -needed basis, ranging from weekly meetings to quarterly meetings. Mr. Bray opened the floor to questions regarding his report on committees to be appointed. There were no questions. Report and Updates by Executive Director Maureen Hammond Acquisition of 102 -Acre Tract of Land: Ms. Hammond noted that closing on the 102 -acre tract of land occurred on September 11, 2025. Page 2 of 4