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EXAS <br />� O' MIC IDEVEILOPM t C � I� OR STI <br />rip ra 115 rr :rrir Reach <br />rac 1 i f"'j .jl°„ <br />Discuss and Consider Approval of the January 20, 2026, Meeting Minutes <br />Chairman Bray presented the January 20, 2026, meeting minutes for review and discussion. Dr. Hashmi <br />made a motion to approve the minutes as presented. Mr. Dougherty seconded the motion. <br />Vote: 7 -ayes to 0 -nays <br />Discuss and Consider Approval of January 2026 Financial Statements <br />Secretary and Treasurer Chase Coleman presented financial reports ending January 31, 2026. Total <br />assets were reported to be $11,594,563. Total liabilities were reported to be $1,935,110, leaving the <br />PEDC with a total net position of $9,659,453. He continued with the income statement for the month, <br />citing the reported total revenue as $219,174. He concluded the financial report for the month of <br />January by presenting total expenditures and net income for the month. <br />Mr. Coleman opened the floor to questions regarding the January financial statements. There were no <br />questions. <br />Dr. Hashmi made a motion to approve the financial statements as presented. Mr. Fendley seconded the <br />motion. <br />Vote: 7 -ayes to 0 -nays <br />Discuss and Consider Action on Repair or Replacement of PEDC Telephone System <br />Ms. Hammond reported that the lightning storm that occurred on Saturday, February 14, 2026, caused <br />irreparable damage to the PEDC's office printer and on-site phone communications server. She reported <br />that the PEDC's IT Specialist had inspected the damage and determined that reasonable preventative <br />measures were in place at the time and that the power surge was an abnormal occurrence. She noted <br />that temporary solutions have been implemented for both the office printer and phone system, and the <br />PEDC would be requesting action from the Board on the repair or replacement of the phone system <br />during tonight's Board Meeting. She added that she would present options for the replacement of the <br />office printer during next month's meeting. <br />Ms. Hammond referenced materials provided in the board packet. She gave an overview of the <br />following options: <br />1) Replace Server and Remain with Optimum <br />Total 36 -Month Projected Cost: $6,620 <br />2) GoTo Connect —Lease Option <br />Total 36 -Month Projected Cost: $3,690.36 <br />Net 36 -Month Savings vs Server Replacement: $2,929.64 <br />3) GoTo Connect —Purchase Option <br />Total 36 -Month Projected Cost: $3,455.37 <br />Net 36 -Month Savings vs Server Replacement: $3,164.63 <br />Page 2of7 <br />