[1. Call to order; Establishment of Quorum]
[3. Approval of Minutes from:]
[4. Discussion and Action:]
[00:01:41]
AS YOU ALL RECALL, I DID BRING AN ITEM BEFORE YOU. I WANT TO SAY EITHER LAST MONTH OR A COUPLE OF MONTHS AGO WHERE I WAS REQUESTING TO SPEND UP TO $80,000 TO BUILD OUT THE OFFICES IN THE NEW BUILDING THAT THE EDC IS PURCHASING. AS YOU ALL RECALL, IT WAS ABOUT A $618,000 PURCHASE. AND NOW WE'RE TRYING TO BUILD SOME OFFICES OUT THERE. AND SO OUR REQUEST IS, IS TO ASK YOU ALL TO APPROVE THE AMENDMENT OF THE RIGHT OF FIRST OFFER. THE DEVELOPER IN THIS CASE, HE WANTED TO SEE AN UPDATE WITH WITH IT. AND WE THINK IT'S FOR PURPOSES OF MEMORIALIZING IT. WE ALSO WANT TO HAVE A RIGHT OF FIRST OFFER THAT WE'RE GOING TO PROVIDE TO THE DEVELOPER. AND SO AGAIN THIS IS THE OFFICE SPACE THAT WE'RE LOOKING AT. WE'RE LOOKING AT DOING FOR TEN BY 12 OFFICES. WE'VE GOT THE OFFICES LOCATED HERE A, B, C AND THEN A COUPLE OF OFFICES TO THE TOP HERE WHERE WE HAVE OUR PARTNERS, THE WORKFORCE SOLUTIONS BORDERPLEX AND PROJECT VIDA AND ANYBODY ELSE THAT WE PARTNER WITH TO, TO HELP THE PEOPLE HERE IN HORIZON CITY WITH BUSINESS SERVICES. SO IT'S GOING TO BE A NICER OFFICE. WE'RE GOING TO HAVE A CONFERENCE ROOM. WHEN WE WERE LOOKING AT AT DOING, YOU KNOW, THE PARTITIONS THAT WE HAVE NOW, THE CUBICLES THAT WE HAVE NOW, THOSE THINGS WERE JUST AS EXPENSIVE AS DOING SOMETHING LIKE THIS. LIKE THREE OF THEM WAS COSTING US, YOU KNOW, THREE, TEN BY TENS, YOU KNOW, LIKE 20, $30,000 FOR THAT. YOU KNOW, SO IT ONLY MADE SENSE TO GO GET THE OFFICES BUILT, GET A NICE CONFERENCE ROOM. YOU KNOW, WE'RE HAVING DISCUSSIONS WITH POTENTIAL BUSINESSES THAT ARE TRYING TO LOCATE HERE IN HORIZON CITY. AND WE HAVE A NICE CONFERENCE ROOM TO TALK TO THEM. AND IT'S A LITTLE MORE PRIVATE.
BUT SO THESE ARE THESE ARE OUR OFFICES. $73,000 IS WHAT IT CAME UP TO, WORKING WITH THE DEVELOPER FOR THE BUILDING AND SO AGAIN, THIS IS JUST A CLOSE UP OF THE PROPERTY. YOU KNOW, YOU ALL HAVE SEEN SOME PICTURES OUT THERE. IT'S MOVING REALLY, REALLY QUICK. WE THINK THAT WE'RE GOING TO BE ABLE TO MOVE HERE BY THE END OF MARCH. AND AGAIN, THIS BUILDING HERE TO THE LEFT IS THE ONE THAT WE'LL BE LOOKING AT PURCHASING. THE ONE TO THE RIGHT IS A BUILDING RIGHT NOW THAT WE UNDERSTAND IS GOING TO GO TO MEDICAL OFFICE. WE'VE ACTUALLY TALKED TO THEM ABOUT MOVING IN THERE, AND WE ALSO TALKED TO THE DEVELOPER, GEORGE DIP. HE'S ACTUALLY WORKING WITH THEM TO SEE IF THEY CAN DO SOME TYPE OF LEASE, AND WITH AN OPTION TO PURCHASE THAT OTHER PARCEL. SO VERY MOVING, VERY QUICKLY. AGAIN, THIS WE THOUGHT THIS WAS A GOOD INVESTMENT WHEN THEY CAME IN. GEORGE DID BOUGHT THE THREE ACRES THAT ARE ABUTTING THIS PIECE OF PROPERTY.
AND HE'S ALSO PLANNING ON DOING SOME MORE DEVELOPMENT SIMILAR TO THIS. SO THAT AREA THAT'S SAT VACANT FOR QUITE SOME TIME NOW, WE THINK HAS BEEN A GOOD DEVELOPMENT. BUT WITH THAT I'LL TAKE ANY QUESTIONS THAT YOU HAVE ANY. SO IT WORKED WELL. IT WORKED, IT WORKED. IT WORKED, IT WORKED. AND WE SEE MORE COMING. I CAN TELL YOU THERE'S A WHOLE BUNCH MORE AT OUR NEXT EDC BOARD MEETING. WE'RE GOING TO GIVE YOU SOME UPDATES. IT'S STILL NOT, YOU KNOW, RIGHT, FOR US TO BRING IT, BUT WE THINK THERE'S GOING TO BE A LOT MORE COMING INTO HORIZON CITY. WE TOOK A CRUISE DOWN EAST LAKE TODAY. ME AND RAFA, YOU CAN ALREADY SEE THE GRADING THAT'S HAPPENING OUT THERE WITH HUNT AND ALL THE, ALL THE HOMES THAT THEY'RE BRINGING IN, AND WE'LL GIVE YOU AN UPDATE
[00:05:04]
ON THAT AS WELL, JUST SO THAT YOU ALL ARE UP TO DATE AS TO THE DEVELOPMENT AND THE DIFFERENT ZONING CHANGES. MORE APARTMENTS ARE COMING IN. I MEAN, THERE'S JUST TONS AND TONS OF DEVELOPMENT. WE HAVE A COUPLE OF WHAT WE HEAR A COUPLE OF CIRCLE K'S THAT ARE MOVING INTO TOWN WITHIN HORIZON CITY PROPER. SO I MEAN, IT'S JUST IT'S JUST HUGE WHAT'S HAPPENING IN HORIZON.COOL. BUT WITH THAT, I'LL TAKE ANY QUESTIONS ON THIS PROPOSAL. WE NEED AN ACTION ON THAT.
RIGHT. YES, SIR. THIS IS A FIRST AMENDMENT RIGHT. ANYBODY HAVE ANY QUESTIONS? NO. OKAY. I HAVE A MOTION TO APPROVE. IS THERE A SECOND? SECOND? DO YOU HAVE DISCUSSION ON THAT? NO. THIS.
AND THIS WAS A BUDGETED EXPENSE THAT WE. YES. RIGHT. RIGHT. WE BUDGETED $80,000. AND THEY CAME IN UNDER THAT. SO? SO WE BUDGETED AND IT'S COMING OUT OF OUR RESERVES. WE HAVE ABOUT I WOULD SAY, $1.38 MILLION IN RESERVES FROM ANOTHER MILLION DOLLARS. BUT THAT'S OUR WORKING FUND. SO WE HAVE TO WE HAVE TO KEEP MONEY SEPARATE. SO WE HAVE $2.38 MILLION RIGHT NOW. YOU KNOW, I TOOK A SNAPSHOT OF WHAT WE HAVE. WE HAVE 2.38, BUT ABOUT A MILLION OF THAT. WELL LIKE 675,000 OF THAT. WE HAVE TO KEEP IN RESERVES BECAUSE OUR TAX, THE WAY WE'RE FUNDED IS BY SALES TAX DOLLARS. AND THAT'S ALWAYS IN ARREARS. RIGHT. SO WE'RE GETTING IT EVERY QUARTER. AND MOVING IT OVER TO OUR CASH POOL. BUT SO THAT'S WHAT WE HAVE RIGHT NOW. SO WE HAVE A WE HAVE ENOUGH MONEY TO DO IT AS FAR AS THE RESERVES THAT THE EDC HAS ACCUMULATED SINCE 2011. BUT WE'RE MOVING THAT MONEY OUT AND TRYING TO GET IT SPENT. AND, YOU KNOW, SO THAT WE CAN HAVE OFFICES AND OTHER PROJECTS THAT WE'RE WORKING ON. OKAY, I HAVE A MOTION AND A SECOND. ALL IN
[5. Executive Session]
FAVOR? AYE. ANY OPPOSED? OKAY. AT THIS TIME, THE I WOULD ENTERTAIN A MOTION TO ADJOURN, TO MOVE INTO EXECUTIVE SESSION. THE ECONOMIC DEVELOPMENT CORPORATION BOARD OF DIRECTORS OF THE TOWN OF HORIZON CITY MAY RECESS INTO EXECUTIVE SESSION PURSUANT TO TEXAS GOVERNMENT CODE CHAPTER 551, SUBCHAPTER D UNDER ARTICLE 551017. AND THIS WOULD BE. 551072 DELIBERATION REGARDING REAL PROPERTY. SO IF I COULD HAVE A MOTION, PLEASE. SO MOTION TO ADJOURN INTO EXECUTIVE SESSION. IS THERE A SECOND. SECOND. HAVE A MOTION AND A SECOND. ALL IN FAVOR? ALL RIGHT.OKAY. WE WILL NOW MOVE INTO EXECUTIVE SESSION. CAN WE CLEAR
[6. Open Session:]
OKAY. IT IS NOW 630. DO I HAVE A MOTION TO RETURN TO REGULAR SESSION? I'LL MAKE THE MOTION SECOND. ALL IN FAVOR? AYE. WE'RE NOW IN REGULAR SESSION. OKAY. VERONICA. WE DO. BASED ON OUR DISCUSSIONS IN EXECUTIVE SESSION, WE HAVE A RECOMMENDED MOTION FOR ACTION. CAN YOU PLEASE READ THAT MOTION? YES. TO AUTHORIZE THE PRESIDENT OF THE EDC TO NEGOTIATE FOR THE PURCHASE OF THE REAL ESTATE DISCUSSED IN CLOSED SESSION, IN ACCORDANCE WITH THE TERMS DISCUSSED. AND THAT THE BOARD PRESIDENT BE AUTHORIZED TO SIGN THE CONTRACT TO PURCHASE SAID PROPERTY WHEN NEGOTIATIONS ARE COMPLETED AND EXECUTE A BOARD RESOLUTION AUTHORIZING THE PRESIDENT OR EXECUTIVE DIRECTOR TO EXECUTE ANY AND ALL CLOSING DOCUMENTS NECESSARY TO ACQUIRE THE PROPERTY CONSISTENT WITH THE TERMS OF THE PURCHASE CONTRACT. OKAY, THAT IS OUR RECOMMENDATION. RECOMMENDED MOTION. WOULD SOMEBODY SO MOVE. OKAY. I'LL SECOND. I HAVE A MOTION AND A SECOND. IS THERE A FURTHER DISCUSSION ON THIS ITEM? HEARING NONE. ALL IN FAVOR? AYE.ANY OPPOSED? THAT MOTION CARRIES. THANK YOU. ALL RIGHT. OPEN SESSION. I DON'T KNOW WHAT OPENS. OH! COME BACK INTO OPEN SESSION. OKAY. BEING NO FURTHER ITEMS ON THE AGENDA, I WOULD ENTERTAIN A MOTION TO ADJOURN. I'LL MAKE THAT MOTION. SECOND. WE'RE ADJOURNED
* This transcript was compiled from uncorrected Closed Captioning.