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EXAS <br />� O' MIC IDEVEILOPM t C � I� OR STI <br />11, f„ x at," -its Reach f rl, igf"'j er <br />• Ametsa Packaging <br />• Rodgers Wade <br />• Universal Fabricating <br />• LionsHead Specialty Tire & Wheel <br />• Huhtamaki <br />• American SpiralWeld Pipe <br />She reported that all companies are in compliance based on their performance agreements. She noted <br />that, of the companies that have incentive obligations within their contracts, the PEDC collectively paid <br />approximately $305,000 to those industries during the month of September (This represents the PEDC's <br />annual incentive obligations based on contractual obligations for new jobs). She reported that after <br />deducting this total, the PEDC has approximately 1.3 million dollars remaining in commitments through <br />2029. <br />Ms. Hammond opened the floor to questions regarding her updates. Pertaining to the TIRZ No. 1, Mr. <br />Bray asked if conversations had taken place between the TIRZ Advisory Board and City Council regarding <br />the proposed ordinance and its potential benefits. Additionally, he asked if the PEDC Board could assist <br />in educating City Council on the benefits of the ordinance. Ms. Hammond noted that conversations had <br />taken place between herself and multiple council members and that any assistance from the Board <br />would be welcome. Mr. Dougherty asked if the vote by City Council would be the final action needed on <br />the ordinance. Ms. Hammond noted that, to her understanding, this was the case. There were no <br />further questions. <br />Convene into Executive Session: <br />Pursuant to Section 551.087 of the Texas Government Code to <br />1) discuss or deliberate regarding commercial or financial information that the governmental <br />body has received from a business prospect that the governmental body seeks to have to <br />locate, stay, or expand in or near the territory of the governmental body and with which <br />the governmental body is conducting economic development negotiations; or <br />2) to deliberate the offer of a financial or another incentive to a business prospect described <br />by Subdivision (1), to wit: <br />a) Project Fancy Dirt <br />b) Project Catalyst <br />c) Project Star Anchor <br />II. Pursuant to Section 551.072 of the Texas Government Code to discuss and deliberate the <br />purchase, exchange, lease, or value of real property. <br />Chairman Bray convened the Board into Executive Session at 4:08 p.m. <br />Page 3 of 4 <br />