02-09-2026 Agenda Packet - Laserfiche WebLink

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I'll f ON f�l� TEXAS Wheie7imar eas°hHighp, Dr. Hashmi made a motion to approve the financial statements as presented. Mr. Roddy seconded the motion. Vote: 7 -ayes to 0 -nays Re ort and U,odates from,Executive Director EDA Grant Project— NW Industrial Park: Ms. Hammond reminded the Board that a change order to approve clearing of the PEDC's 23 -acre site within the NW Industrial Park had been submitted to the EDA. She reported that the EDA had responded to the change order by citing that the parcel was outside of the previous environmental study that had been conducted for the NW Industrial Park and that a new environmental study would be required to consider approval of the change order. She added that this process would take additional time and funding to conduct. At this time, she proposed an alternative option. She explained that in recognition of how seamless the project had gone and that the PEDC had quickly met job creation requirements for the EDA Grant, the EDA had offered to increase the match percentage of the grant from 70/30 to 80/20 should we start to close out the grant by the end of the year. She proposed that, due to the savings provided by this percentage adjustment, the Board consider spending a portion of those funds toward the clearing of the 23 -acre site. Mr. Homer made a motion to approve clearing of the 23 -acre site within the NW Industrial Park. Mr. Fendley seconded the motion. Vote: 7 -ayes to 0 -nays Tax Increment Reinvestment Zone (TIRZ) No. 1— Current Status: Ms. Hammond reported that during the December 8th City Council Meeting, Council had approved an ordinance to modify the existing boundary of TIRZ No. 1, removing Zone 4, encompassing the 116 -acres of the Gene Stallings Business Park. She commented that the approval of this ordinance would allow the EDC to retain flexibility when proposing the site for future recruitment projects. Ms. Hammond expressed her appreciation for Mr. Homer's attendance at the City Council meeting. Ms. Hammond opened the floor to questions regarding her updates. There were no questions. Convene into Executive Session: 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 to 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 Page 3 of S r f f f i r r I 1 1 1 r 1 l ! , l Ill l llf IY I r l 111 1 f>ul /1!/ Il�ll��ll 1 1 Ill 1 1 ! 1 I ,lll VIIIA ,1 6Jlllllll !, !l � ,1 l �l 1 1 I I �l ili i i r 1 I 1 I If 1, II 1fl P!d l01111>1011 !!11 �I11((fl x1111 l 1 111'11 1111 , 11l`�' dl 11 a / l � l f l 1 � 1,11 1111 I Il 11 Illlllll II OOilllllllllfl lllll�011/IIIIIIJ01 �,I!(ll! lllllll�ll1lIIIIIIIla01�IIIll1lJ Ill .1111 I � 1111p �l i , 11 � 1 11 � ,1,191 J 1' I , I Ill l� , ,, , l i r f„ , f 1