May 14, 2026 Odessa Development Corporation

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INVOCATION. HEAVENLY FATHER, THANK YOU FOR THIS DAY. THANK YOU FOR ALL YOUR MANY BLESSINGS.

THANK YOU FOR THIS COMMUNITY WE LIVE IN. HELP US TO MAKE SOUND DECISIONS BASED ON DECISIONS YOU WOULD HAVE US TO DO TO GROW THE COMMUNITY. NAME WE PRAY. AMEN. AMEN. GABRIEL, STAND FOR THE PLEDGES. PLEDGE ALLEGIANCE TO THE FLAG OF THE UNITED STATES OF AMERICA AND TO THE REPUBLIC FOR WHICH IT STANDS. ONE NATION UNDER GOD, INDIVISIBLE, WITH LIBERTY AND JUSTICE FOR ALL. HONOR THE TEXAS FLAG. I PLEDGE ALLEGIANCE TO THEE. TEXAS. ONE STATE UNDER GOD, INDIVISIBLE. AND. GOTCHA. GOTCHA. OKAY, FIRST ORDER OF BUSINESS. WE HAVE TO MAKE A

[4. Consider the appointment of officers ]

SECOND. MOTION AND SECOND, ALL IN FAVOR, SAY I. I. OPPOSED. SAME SIGN PASSES. MAN, THAT WAS QUICK. OKAY. IF THERE'S ANY MEMBER OF THE PUBLIC MAY ADDRESS THE BOARD REGARDING ANY AGENDA ITEMS BEFORE DURING CONSIDERATION. I DIDN'T GET ANY NOTIFICATION THAT ANYONE HAS ONE, BUT I GUESS IF YOU DO, LET US KNOW. IF NOT, I GUESS WE'LL GO ON TO CONTRACTORS REPORTS.

DO WE NEED TO DO OUR MINUTES? NO, WE NEED THE MINUTES. WE NEED TO CONSIDER THE MINUTES. I

[5. Consider the Minutes of April 9, 2026]

[7. Contractors’ reports]

THE STAFF HAS BEEN INCREDIBLY BUSY. A LOT OF THINGS, A LOT OF BALLS THAT ARE BEING JUGGLED AND, YOU KNOW, AN ECONOMIC DEVELOPMENT THAT IT IS A LONG GAME AND THEY MAY BE TALKING TO THEM FOR TWO, THREE, 4 OR 5 YEARS. BUT SOME OF THESE THAT ARE CONTINUING ON PROJECT WINSTON IS SOMETHING THAT THEY'VE PURCHASED SOME LAND OVER IN THE DC AREA OFF OF FRONT TRUNK STREET. SO THAT IS CERTAINLY MOVING FORWARD. AND THEY MAY OR MAY NOT BE ASKING FOR SOME FUNDING FROM DC. ALSO, PROJECT FAITH IS AN ELECTRICAL COMPONENT MANUFACTURER AND THEY TOO ARE LOOKING AT SOME LAND OVER ON SOUTH FAUDREE. SO THAT'S SOMETHING THAT YOU SHOULD PROBABLY BE HEARING ABOUT MORE LATER ON PROJECT DRAGON SLAYER, YOU'RE ACTUALLY GOING TO, I BELIEVE THAT'S AGENDA ITEM NUMBER 11. AND WE DO HAVE MR. WEGNER, WHO WILL BE WITH US TO DISCUSS THAT PARTICULAR PROJECT LATER ON IN THE AGENDA, AND THEN PROJECT POWER SOUTH WAS IN TOWN JUST EARLIER THIS WEEK. AND THAT IS A POTENTIAL POWER PLANT THAT THEY'RE LOOKING AT. AND THEN PROJECT POWER SHIFT IS ALSO ANOTHER PROJECT THAT GEORGE, ONE OF OUR NEW EMPLOYEES, HAS BEEN FOCUSING ON. SO THERE'S AGAIN, A LOT OF ACTIVITY THAT'S HAPPENING. WE TALK ABOUT THE DATA CENTER. I BELIEVE YOU ALL MAY KNOW THAT THE ECONOMIC

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SO WE'RE LOOKING AT A COUPLE OF OTHER POTENTIAL DATES TO MAKE SURE THAT YOU ALL DO GET SOME OF THE REQUIRED TRAINING. THAT SHOULD BE, ESPECIALLY WITH THE NEW MEMBERS AND NEW COUNCIL MEMBERS AS WELL. I THINK WE WERE LOOKING AT JULY, BUT NOW WE'RE LOOKING AT POSSIBLY JULY, AUGUST. SO I'LL JUST ANSWER ANY QUESTIONS TO THE BEST OF MY ABILITY THAT I CAN. ANY QUESTIONS FOR RENEE? THANK YOU MA'AM. I WILL BE BACK UP LATER IN THE AGENDA FOR THE OTHER PROJECTS. OKAY. THANK YOU. NEXT UP IS CHRISTY WITH CURRENT MEDIA PARTNERS. GOOD AFTERNOON.

JUST A COUPLE OF UPDATES TO WHAT I HAVE IN THE PACKET, THE BUSINESS RETENTION AND EXPANSION PROGRAM. WE'VE DONE A FEW NEW ASSETS OVER THE LAST MONTH, WITH GEORGE PAN BEING NEW. AND IN THAT ROLE FOR BERNIE, WE'VE UPDATED THE BROCHURE THAT HE CAN USE AS A LEAVE BEHIND WHEN HE'S THERE. AND WE'VE ALSO DONE A COUPLE OF VIDEOS THAT ARE NOW ON THE WEBSITE, ONE ON THE DOWNTOWN GRANTS AND ONE ON BRE AND OPPORTUNITIES FOR PEOPLE LOCALLY. SO WE WILL START RUNNING THOSE ON OUR DIGITAL CHANNELS AS WELL. BUT THEY'RE ON THE WEBSITE TOO. ONE THING I WANTED TO MENTION WITH BERNIE, WE ALSO HAD A CALL WITH GOLDEN SHOVEL, WHO IS OUR WEBSITE PROVIDER. THEY'RE THE ONES THAT WE HAVE WORKED WITH. THEY HAVE A VERY SPECIFIC BERNIE PROGRAM THAT I REVIEWED WITH TOM AND HIS TEAM, AND WE THINK IT'S SOMETHING THAT MIGHT BE BENEFICIAL. IT HAS A MARKETING COMPONENT TO IT, AND I HAVE A CONTINGENCY IN MY BUDGET THIS YEAR THAT I'M PROBABLY NOT GOING TO TOUCH. BUT WHAT I'D LIKE TO DO IS GET MORE DETAILS TO THE BOARD SO THAT WE COULD DISCUSS THAT NEXT MONTH ON THE AGENDA. SO I JUST WANTED TO BRING THAT UP AND LET YOU KNOW THAT THAT'S COMING. BUT I THINK IT WOULD BE VERY GOOD NOT ONLY FOR THE DEPARTMENT BUT ALSO FOR US MARKETING AS WELL. SO MORE TO COME ON THAT THE TRAILBLAZERS CAMPAIGN THAT WE'VE MENTIONED, WHERE WE'RE HIGHLIGHTING LOCAL BUSINESSES AND PEOPLE. WE DID OUR FIRST ROUND OF PHOTO SHOOTS AND WE HAVE NEW CREATIVE THAT WE'RE ACTUALLY PRESENTING TO THE ECONOMIC DEVELOPMENT TEAM ON MONDAY. AND WE'RE LOOKING AT STARTING THOSE IN JUNE. SO YOU'RE GOING TO START SEEING A LOT MORE THINGS THAT ARE FOCUSED ON THE LOCAL BUSINESSES. AND WE'RE PULLING BACK A LITTLE BIT ON THE THINGS THAT WE'RE DOING TO THE OUTSIDERS, TRYING TO BRING THEM IN A FEW THINGS.

ON GENERAL MARKETING. WE DID START UP ANOTHER DID YOU KNOW, CAMPAIGN ON SOCIAL, TRYING TO JUST GET FACTS, THINGS THAT PEOPLE MAY NOT KNOW ABOUT ODC AND WHAT YOU DO AND WHAT YOU FUND. SO WE'RE KIND OF REINSTATING THOSE THINGS. SO WE HAVE A SERIES OF ABOUT 30 DIFFERENT POSTS THAT WE'RE JUST STARTING TO ROTATE THERE. ONE THING THAT I DID LAST MONTH, WHEN THE HIGH GROUND WAS IN TOWN, THEY HAD A SITE SELECTORS PANEL AND THEY HAD A DINNER WITH SITE SELECTORS THAT I WAS ABLE TO ATTEND. AND SO I GOT TO TALK TO SEVERAL OF THESE PEOPLE AND TALK TO THEM ABOUT WHAT THEY'RE LOOKING AT, AND TALK TO THEM A LITTLE BIT ABOUT WHAT WE'RE DOING AND WHAT I THINK IS WORKING WELL AND WHAT THEY THOUGHT WAS WORKING WELL. AND ONE THING I THINK THAT I'M GOING TO TRY IS TAKE SOME OF THE, THE DIGITAL AD BUDGET THAT WE ARE SPENDING RIGHT NOW. AND I THINK WE'RE GOING TO FOCUS THAT ON SOME OF THE TRADE SHOWS THAT WE MAY OR MAY NOT BE ATTENDING, BUT A LOT OF THESE SITE SELECTORS ARE ATTENDING THESE TRADE SHOWS. SO IT KIND OF KILLS TWO BIRDS WITH ONE STONE. WE GET THE INDUSTRY THAT'S THERE AND ALSO THE SITE SELECTORS. SO WE'RE LOOKING INTO THAT RIGHT NOW. WE MIGHT BE SHIFTING SOME OF THAT BUDGET. SO LOOK FOR THAT IN THE NEXT COUPLE OF MONTHS AS WELL. AND THEN I BELIEVE LAST MONTH I WAS NOT HERE, BUT I THINK MONICA PROBABLY ALREADY TALKED ABOUT THE APPRENTICE WORKSHOP, AND WE DID A LOT TO HELP SUPPORT THAT AS WELL, BOTH THROUGH ODESSA COLLEGE AND THROUGH ODYSSEY. AND THAT'S REALLY JUST KIND OF A QUICK OVERVIEW OVER AND ABOVE WHAT'S IN THE REPORT. IF YOU HAVE ANY QUESTIONS, ANY QUESTIONS FOR CHRISTIE? NO THANK YOU, THANK YOU. AND WE HEARD FROM THE CHAMBER LAST MONTH. SO WE DON'T DO THAT THIS MONTH. I'M I'M THINKING BUT CHRIS IS HERE. IF Y'ALL GOT ANY QUESTIONS FOR HIM, THEN UTPB IS THE SAME THING WE HEARD FROM THEM LAST MONTH. SO JAMES BEECHAM WITH MO TRANS UP. GOOD AFTERNOON EVERYBODY. GOOD AFTERNOON. I PUT A PRETTY EXTENSIVE PACKET IN FRONT OF YOU. DON'T WORRY. WE'RE GOING TO JUST HIT A FEW HIGHLIGHTS FROM THAT. AND SINCE A FEW OF YOU ARE NEW, WE'LL JUST KIND OF GO BACK TO THE BEGINNING. ONE OF THE THINGS THAT WE WORKED ON WITH ODC OVER THE LAST FEW YEARS IS A LOCAL LEVERAGING PROJECT THAT YOU PUT SOME OF

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YOU'VE LEVERAGED ALL THOSE PROJECTS. THINGS ARE MOVING ALONG. IN FACT, ACTUALLY LAST MONTH WE GOT SOME GOOD NEWS THAT 87TH HAS BUMPED UP IN THE CONSTRUCTION TIME FRAME, AND THAT ONE SHOULD BE UNDERWAY NO LATER THAN 2029. SO THAT'S ONE OF THOSE LEVERAGE PROJECTS. AND MOVING THAT ALONG, WE'VE BEEN REALLY HAPPY ABOUT THAT PROJECT BECAUSE ESSENTIALLY WHAT YOU'RE DOING IS USING SOME OF YOUR DOLLARS TO GET A FULLY FUNCTIONAL FREEWAY DESIGN LOOP HERE IN ODESSA, TEXAS, THAT YOU CAN DEVELOP ALONG THAT HAS GREAT ACCESS AND GREAT ABILITY TO DEVELOP. AND THAT'S SOMETHING THAT YOU'RE INTERESTED IN IS ECONOMIC DEVELOPMENT ORGANIZATION. WE WERE SO HAPPY ABOUT THAT. WHEN YOU APPROVED THAT LAST SEGMENT THAT WE WERE KIND OF TALKING ABOUT THAT. AND LO AND BEHOLD, CRAIG STOKER GOT AHOLD OF ME, WHO I LOVE DEARLY BUT CAN BE A KILLJOY AT TIME AND SAID, YOU KNOW, THE FACT THAT WE'RE GOING TO FINISH OUT A LOOP OVER THE NEXT 20 YEARS IS GREAT AND ALL. AND YEAH, THAT'S WONDERFUL FOR EVERYBODY ELSE. BUT WHAT ABOUT EVERYBODY TODAY, DRIVING UP AND DOWN 42ND STREET IN THAT HOT MESS? WHAT ABOUT THAT? WHAT ARE WE DOING ABOUT THAT? SO WE SAID, WELL, SO MUCH FOR THE AFTERGLOW THERE. BUT HE'S RIGHT IN 42ND STREET. IT'S BEEN A PROBLEM. SO WE WENT AND WE TOOK CRAIG WITH US. WE APPROACHED THE TEXAS DEPARTMENT OF TRANSPORTATION AND SAID, LOOK, YOU KNOW, WE ALWAYS MAKE THE JOKE ABOUT, WELL, YOU CAN'T DOUBLE DECK IT. SO GUESS YOU CAN'T DO ANYTHING AND ASK THEM TO START A TRAFFIC STUDY TO LOOK AT 42ND STREET. AND WHAT ARE SOME OF THE THINGS THAT WE COULD DO OUT THERE TO MAKE THAT BETTER? AND SO WHAT YOU HAVE HERE IS THE INITIAL PHASE OF THAT TRAFFIC STUDY. AND THERE'S A LOT OF INFORMATION IN THERE, AND WE'LL LEAVE IT TO YOU TO GO THROUGH. I'LL JUST TELL YOU REAL BRIEFLY FROM AN OVERVIEW, SOME OF THE HIGHLIGHTS. 42ND STREET IS INDEED A PROBLEM. LIKE YOU NEED AN ENGINEER TO TELL YOU THAT, BUT IT IS LEVEL OF SERVICE IS F AND THAT'S HOW WE MEASURE ROADS. IT'S THE LEVEL OF SERVICE, A BEING THE BEST, F BEING THE WORST, AND YOU'RE A F. WELL, THE ROAD IS F, WE'RE NOT AN F.

THERE ARE AROUND 1600 CRASHES OVER THE LAST FIVE YEARS, WHICH IS ROUGHLY AROUND 320 A YEAR.

SO TO PUT THAT IN PERSPECTIVE FOR YOU, THAT'S ROUGHLY ABOUT 10% OF ALL THE CRASHES IN ODESSA RIGHT THERE, 42ND STREET, GRANDVIEW TO BILLY HEXT, THERE WERE SOME REAL EASY THINGS IN THIS STUDY THAT WILL BE GOOD. ONE WILL SYNCHRONIZE THE TRAFFIC LIGHTS WITH THE CITY OF ODESSA IS ALREADY WORKING ON TODAY. SO THAT'S PART ONE. ONE WAS TO EXTEND THE MERGE LANE FOR YOUR NORTHBOUND JBS TRAFFIC. THAT'S GOING EAST, WHERE YOU WOULD HAVE A CONTINUOUS MERGE LANE GOING DOWN 42ND THAT WAY, MOVE A LITTLE BIT BETTER THROUGH THAT INTERSECTION, WHICH IS ONE OF THE PROBLEM POINTS. AGAIN, LOTS OF RIGHT OF WAY THERE. IT'S ALL DONE WITH UTPB. THAT'S A PRETTY EASY DEAL TO DO. THAT'S PRETTY MUCH THE EXTENT OF THE EASY THINGS. THE NEXT PARTS GET A LITTLE BIT HARDER, AND ONE OF THOSE IS TO HAVE SOME CONVERSATIONS ABOUT DRIVEWAY CONSOLIDATIONS OUT THERE. YOU GOT SOME PARKING LOTS THAT GOT THREE DRIVEWAYS GOING IN AND OUT OF IT ALL REAL CLOSE TOGETHER, CLOSE TO INTERSECTIONS, WHICH IS NOT A GOOD THING. THERE'S PROBABLY SOME THINGS THAT WE COULD DO ON DRIVEWAY CONSOLIDATIONS I DON'T NECESSARILY THINK ARE REAL HARD, JUST REQUIRES YOU HAVE SOME CONVERSATIONS WITH FOLKS LOOKING AT THOSE DRIVEWAY DESIGNS. THE REASON THAT'S IMPORTANT IS IN THIS REPORT, WE'RE SEEING PROBABLY AROUND A 53% REDUCTION IN THOSE CRASHES. PEOPLE STOP AND TRYING TO TURN IN ALL OF A SUDDEN GET RUN INTO FROM BEHIND ALL THOSE SORTS OF THINGS GOING ON OUT THERE. SO THAT'S AN AREA THAT THAT WE CAN EXPLORE AND WORK ON. THE OTHER THING WAS RAISED MEDIANS. AND JUST AS A NOTE, THAT ONE'S ALREADY IN THE WORKS TOO, THAT WAS APPROVED AT THE MPO LEVEL SEVERAL YEARS BACK. AND THAT KEEPS PEOPLE FROM CROSSING ACROSS FIVE LANES OF TRAFFIC TRYING TO DO A U-TURN IN THE MIDDLE OF THE STREET, WHICH HOPEFULLY PEOPLE WOULD KNOW BETTER THAN TO DO THAT, BUT THEY DO IT EVERY DAY. YEP. SO THAT'S ANOTHER ONE THERE. AND THAT WAS ABOUT A 23% REDUCTION. ONE OF THE THINGS ABOUT THAT THOUGH, AND IT LEADS TO THE NEXT ITEM IN HERE, IS WHEN YOU DO THAT, YOU'RE GOING TO MAKE IT WHERE PEOPLE WHO ARE HEADING EASTBOUND WILL HAVE A HARDER TIME GETTING TO THE NORTH SIDE OF 42ND STREET AND VICE VERSA.

SO YOU'RE GOING TO RESTRICT ACCESS A LITTLE BIT, WHICH IS EXACTLY WHY IT REDUCES CRASHES.

BUT YOU GET INTO THAT ACCESS ISSUE. AND SO ONE OF THE OTHER ITEMS IN THIS WAS LOOKING AT THE EXTENSION OF 50TH STREET, EXTEND 50TH ON OUT AND ESSENTIALLY PROVIDE A BACKAGE ROAD FOR A LARGE SEGMENT OF 42ND STREET. AND WE REALLY LIKE THAT BECAUSE WE THOUGHT IN THE PAST, AT ONE POINT THE COUNTY HAD DONE A STUDY LOOKING AT YUKON AS RELIEVER ROUTE FOR 42ND STREET, AND IT REALLY DIDN'T SHOW IT TO BE EFFECTIVE. NUMBER ONE, IT'S KIND OF FAR OUT THERE. BUT THE OTHER PROBLEM IS 42ND STREET IS A VERY, VERY LOW PERCENTAGE OF

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THOSE HAVE ALL VERY BEEN VERY MUCH POSITIVE IN REGARD TO THE IMPACT THAT THIS COULD HAVE, BECAUSE, AGAIN, IT'S A QUICK PROJECT. IT'S NOT A HARD, LONG, DRAWN OUT, FIVE, SIX YEAR PROJECT. IT'S FAST. A LIMITED NUMBER OF LANDOWNERS, REALLY NO UTILITY ISSUES OUT THERE. THERE IS A LITTLE BIT OF A DRAINAGE ISSUE, BUT AND WE'VE KIND OF PUT TOGETHER A LITTLE PACKET ON THAT PROJECT WHERE YOU CAN SEE THE OVERALL AND THE BREAKOUTS OF THAT. WE THINK IT'S A GOOD SOLUTION FOR A SEGMENT AT LEAST OF 42ND STREET HELP, AND PARTICULARLY ADDRESSES SOME OF THOSE ACCESS ISSUES LONG TERM. ONE OF THE THINGS THAT'S INTERESTING ABOUT THIS, IF YOU BUILT THAT ALL OUT, YOU'RE ALSO GOING TO FACILITATE TWO OTHER THINGS. ONE IS YOU'RE GOING TO NEED ANOTHER OVERPASS AT LOOP 338 THERE AT ARROYO AND 50TH STREET TO CONNECT THAT OUT. AND ULTIMATELY, YOU'D HAVE TO HAVE ANOTHER ONE AT 191. THEY'RE GOING ACROSS BETWEEN THAT ROADWAY AND ROCKY LANE. THAT DOES A LOT, AGAIN, FOR HELPING PROVIDE IMPROVED ACCESS AND SOME DEVELOPMENT OPPORTUNITIES ALONG THE WAY. AND WE'RE BRINGING THAT UP TO YOU TODAY.

NOT THAT Y'ALL HAVEN'T BEEN HIT UP ABOUT A LOT OF THINGS, BUT I THINK THIS MIGHT BE SOMETHING FOR Y'ALL TO THINK ABOUT LONG TERM IN YOUR LEVERAGING PROGRAM. WE STILL HAVE ABOUT $7.5 MILLION IN THERE FOR TOWARDS TEX DOT PROJECTS FROM THE ORIGINAL DEAL. AND I THINK THIS ONE, EVEN THOUGH IT'S NOT ACTUALLY A TEX DOT PROJECT, IT DOES LEVERAGE TWO ADDITIONAL TEX DOT PROJECTS, THOSE OVERPASSES AND PROVIDE SOME PRETTY NOTABLE RELIEF. AND WE'RE NOT COMING TO YOU TODAY ASKING FOR A DECISION OR YAY OR NAY OR ANYTHING LIKE THAT. IT'S JUST SOMETHING WE WANT TO THROW OUT FOR YOU TO BE KIND OF THINKING ABOUT PONDERING OVER THE COMING MONTHS. SO WITH THAT, I WILL SHUT UP. SORRY FOR THE LONG REPORT TODAY AND ALL THE BEDTIME READING MATERIALS. IF YOU'VE GOT ANY QUESTIONS. THERE'S NO COST ESTIMATES ON ANY OF THIS. NOT AT THIS POINT, REALLY. WE JUST LOOKED AT CONCEPTUALLY BECAUSE THERE IS A DRAINAGE ISSUE AND THE DRAINAGE IS WHAT WILL DRIVE THE COST THAT CURBS AND GUTTERS. AND I'M NOT GOOD ON CURBS AND GUTTERS. I CAN I CAN ESTIMATE ON ROCKY, ROCKY LANE ABOVE 191 OR JUST KEEP 191 HIGH. AND AT THIS POINT YOU WANT TO KEEP THE DESIGN STANDARD TO RAISE IT UP.

OKAY. BUT THAT'S, THAT'S GOOD BECAUSE THAT'S NOT YOUR PROJECT. THAT'S TEX DOT. SO THAT'S JUST A LOT OF MONEY. YEP. I HAVE A QUESTION ON THE RAISED MEDIANS. AND HAVE YOU EVER BEEN TO LAKEWOOD, TEXAS. I HAVE BEEN YOU UNDERSTAND THEY HAVE ALL THAT AND THAT'S THERE. IF Y'ALL DON'T CHECK THAT'S THEIR NUMBER ONE THING IS PEOPLE WRECKING. TRYING TO AUTOMOBILE ACCIDENTS KEEPS THEM BUSY ALL DAY LONG TRYING TO NEGOTIATE THAT AND THAT AND THEIR HIGHWAYS A LOT SMALLER. IT'S GETTING MORE AND MORE CONGESTED BECAUSE THEY'RE GROWING LIKE EVERYBODY. THEY'RE GROWING REALLY FAST. BUT AT THE SAME THING. AND SO THAT THAT ONE AND THEN THIS IS NOT YOUR YOUR WHEELHOUSE. I KNOW, BUT WE'RE STILL TALKING ABOUT SPEED. THERE'S NO LAW ENFORCEMENT UP AND DOWN 42ND STREET. I DON'T CARE WHAT ANYBODY SAYS. AND I'LL CALL HIM A LIAR BECAUSE THERE'S NOT YOU KNOW, YOU CAN HEAR DRAG RACING. IT DOESN'T MATTER ANYMORE 24 HOURS A DAY, SEVEN DAYS A WEEK. AND WHAT WE NEED IS A POLICE PRESENCE. IF YOU WANT TO STOP SOME SOME ACCIDENTS, THE POLICE PRESENCE. AND THEN BUT BUT BACK TO WHAT YOU'RE LOOKING AT THIS. AND THEN I'LL BE QUIET WHEN YOU GET ON 191 THEY'RE TRYING TO GET GET ON TO 191 FROM LOOP. 338 THAT'S THAT'S A AND EVERYBODY KNOWS THIS. IT TRIES TO GET ON. THAT'S A TERRIBLE PLACE TO TRY TO GET ON. THERE'S A ONE LANE ENTRANCE THAT DOESN'T GO ANYWHERE. AND YOU GOT ALL THESE PEOPLE BOWLING OVER 338 ON THE OVERPASS. AND THAT REALLY NEEDS TO BE ADDRESSED RATHER THAN PUTTING IN ANOTHER OVERPASS RIGHT THERE, BECAUSE THAT'S WHERE ROCKY LANE'S GOING TO BE.

THAT OTHER OVERPASS IS ALREADY GOING TO BE RIGHT THERE WHERE THAT WHERE YOU'RE JUST TALKING

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AND SO IF WE CAN GET ALL THOSE OVERPASSES MOVED UP. AND THAT'S THE GREAT THING ABOUT Y'ALL LEVERAGING THEM. I MEAN, YOU'VE GOT A TEXT OUT PROJECT THERE THAT SOMEBODY FROM THE LOCAL COMMUNITY CARED ENOUGH TO PUT SOME FUNDS ON. IT MAKES IT A LOT EASIER FOR THEM TO DO THAT.

SO I THINK AT THAT POINT, WE STILL HAVE 100TH WOULD HAVE TO BUMP UP. AND THERE IS AN OVERPASS DESIGN FOR WHAT'S A PARKWAY UP THERE, ALTHOUGH THAT ONE YOU PROBABLY WOULDN'T HAVE TO HAVE BUILT OUT INITIALLY BECAUSE IT'S JUST ON THE, THE TRAFFIC THERE AND WHAT IT IS.

SO YOU MIGHT BE OKAY WITH THAT ONE. SO I THINK WE'RE IN THE BALLPARK OF STAYING ON IT THOUGH. I MEAN, KEEP IN MIND THESE PROJECTS GO SOUTH EVERY DAY. THOMAS. BUT WHEN DID YOU SAY YOU'RE EXPECTING THE FEASIBILITY STUDY TO END ON THE 42ND STREET ON 42ND? WELL, THIS IS PHASE ONE OF IT AND THAT PART IS COMPLETE. WE'RE GOING TO GO BACK AND TALK TO THEM ABOUT PARTS OF IT. THERE WERE SEVERAL INTERSECTIONS IN HERE, AND YOU'LL SEE A SEGMENT OF IT.

AND I DIDN'T TALK ABOUT IT TODAY BECAUSE IT'S A BUNCH OF GARBAGE ESSENTIALLY, WHERE THEY'RE SAYING, WE'RE GOING TO SOLVE THE PROBLEM THAT YOU HAVE AT THESE INTERSECTIONS JUST BY RESTRICTING ACCESS WHERE PEOPLE CAN'T MOVE. NO, NO. AND FOUR WAYS THROUGH THERE. AND WE DON'T FEEL LIKE THAT'S APPLICABLE. SO WE'RE GOING TO HAVE TO DO A LITTLE BETTER JOB ON THAT. SO WE'RE GOING TO GO BACK ON THAT. THAT'LL BE PHASE TWO. PHASE ONE ONLY TOOK ABOUT SIX MONTHS, WHICH I REALIZE SIX MONTHS IS A LONG TIME. BUT IN ENGINEERING WORLD, IT'S A VERY SHORT PERIOD OF TIME. SO I WOULD THINK THAT'S PROBABLY SOMETHING WE COULD GO BACK ON THIS IN ABOUT A FOUR MONTH PERIOD. THAT'S ALL. TEX-DOT 40S. THAT'S HOW A STATE HIGHWAY. SO THAT'S ALL TEX-DOT FUNDING? THAT'S CORRECT. SO BUT YOU MADE A STATEMENT AND I HAVE TO ASK

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THIS IS OUT AND OUT STATE HIGHWAY. OKAY. SO IT'S IT'S A STATE HIGHWAY TO TO THOMAS'S POINT. BUT. YOU ARE CORRECT IN THAT BASED ON WHAT WE'VE SEEN, AND I KNOW IT'S CHANGED A LITTLE BIT BECAUSE YOU'VE SEEN A BIG INCREASE IN COMMUTING WORKFORCE IN PARTICULARLY IN ECTOR COUNTY. BUT THE MAJORITY OF THAT TRAFFIC IS NOT THROUGH TRAFFIC. AND IT'S A VERY, VERY SMALL PERCENT. THAT REALLY IS. IT'S GOING FROM ONE SIDE OF 42ND STREET TO THE OTHER SIDE OF TOWN. YEAH. OKAY. THAT WILL THAT AFFECT FUNDING IN ANY WAY IN THE FUTURE? NO, NO, IT'LL BE ALL RIGHT. THE, THE, THE THINGS THAT THEY LOOK AT ARE CRASHES AND, AND THERE'S PLENTY LEADING THE PACK THERE ONE A DAY ALMOST. AND, AND NOT THAT YOU WANT TO PUT THIS IN THE BROCHURE THAT CHRISTIE IS HANDING OUT, BUT THERE'S ONLY ONE ROADWAY ON THIS SIDE OF I-35 THAT'S NOT IN EL PASO. THAT'S IN THE TOP 300 MOST CONGESTED ROADS IN TEXAS, AND IT IS 42ND STREET. SO BASED ON THOSE TWO FACTORS, THAT'S WHAT'S GOING TO DRIVE YOUR FUNDING. OKAY. WELL, LET ME LET ME ASK ONE MORE QUESTION. AND THIS HAS REALLY NOTHING TO DO WITH BUT IT HAS TO DO WITH WHAT WE'RE TRYING TO DO HERE AS A COMMUNITY. EXCUSE ME. I'M GOING TO HAVE TO INTERJECT. WE GOT TO STAY ON THE AGENDA. OKAY. SO WE CAN'T GO TOO FAR OFF THE AGENDA. ALL RIGHT. I DON'T THINK IT'S NOT AN AGENDA ITEM, BUT YOU CAN ASK ME AFTERWARDS. I'LL ASK YOU AFTER. ALL RIGHT. THANK YOU ALL, I APPRECIATE IT. THANK YOU, THANK YOU. KAYLA HARDY. FINANCIALS. STEP UP IF YOU DARE.

IF I DARE. I ALMOST SOUNDS LIKE A THREAT. I TURNED THIS OUT LATE LAST NIGHT, SO I'LL GIVE YOU ALL COMFORTABLE. THANK YOU. IT HELPED ME GO TO SLEEP, SO I'M TELLING YOU. THAT MEANS YOU DIDN'T READ THAT INSOMNIA. YEAH, THAT MEANS I DIDN'T READ IT ALL. THAT MEANS I'M SAYING I'M ON THE BOARD. YEAH. JUST LETTING THOMAS RUN THE SHOW FOR A WHILE. THANK YOU. AND I'M SORRY FOR GETTING THIS OUT LATE. WE HAD BUDGET KICKOFF. IT'S. IT'S BEEN A LITTLE BIT BUSY, SO I DID THE EXECUTIVE SUMMARY, LIKE I ALWAYS DO. TO ME, THAT JUST PRETTY MUCH HIGHLIGHTS WHAT, YOU KNOW, WHAT'S ON THERE. SO I'M GOING TO GO, IF IT'S OKAY WITH YOU, GO STRAIGHT TO THE BALANCE SHEET AND ADDRESS SOME THINGS THAT ARE DIFFERENT THAN WHAT WE HAVE BEEN SEEING ON THE BALANCE SHEET. STARTING AT THE TOP, YOU'RE GOING TO SEE AN ASSET FOR $5 MILLION. THAT ASSET IS A LONG TERM RECEIVABLE ACCOUNT. THAT IS FOR THE $5 MILLION THAT Y'ALL LOANED THE CITY OF ODESSA FOR THAT TEX DOT RELOCATION THAT WE ANTICIPATE WILL BE ABLE TO PAY BACK IN 18 ISH MONTHS. SO YOU'RE GOING TO SEE THIS EACH TIME AS WE EXPEND THE FUNDS. WE'RE GOING TO. I'LL START SHOWING YOU HOW IT GOES. I'LL GIVE YOU A REPORT AS THE FUNDS GET EXPENDED, AND I'LL KEEP YOU APPRIZED OF WHAT'S GOING ON WITH THESE FUNDS. YOU'LL NOTICE THAT IT'S ALSO DOWN IN THE SHORT TERM COMMITMENTS. YOU'LL SEE IT DOWN THERE RIGHT NOW, BECAUSE WE ACTUALLY PAID OUT THE FUNDS IN APRIL. AND THIS IS A MARCH STATEMENT. SO I JUST WANTED TO MAKE YOU AWARE OF WHAT THOSE WERE. IT DOES HAVE A NET NEGATIVE, I MEAN A NET ZERO EFFECT ON THE FUND BALANCE BECAUSE YOU HAVE AN ASSET AND A LIABILITY. SO IT OFFSETS EACH OTHER. SO THAT'S WHY I WANTED TO MAKE SURE I GOT THAT ACCOUNTS RECEIVABLE NOTES PAYABLE ON THERE. THE NEXT THING YOU'RE GOING TO SEE UNDER THE LIABILITIES IS A $5,000,005.9 MILLION EXPENSE. THAT WAS FOR FUNDS, AS WE HAVE TALKED BEFORE, THAT ARE DUE TO THE CITY BECAUSE WE PAY OUR POOLED ACCOUNT. I ASKED OUR FORMER CONTROLLER TO TRANSFER THOSE FUNDS. HE DID THE JOURNAL ENTRY TO TRANSFER THOSE FUNDS. WHEN I WAS RECONCILING YOUR ACCOUNTS, I REALIZED IT WAS JUST A JOURNAL ENTRY, NOT THE CASH, SO I HAD TO REVERSE THAT ENTRY. THAT'S WHY YOU SEE IT ON THE BOOKS. WELL, I GUESS WE HAD A MISCOMMUNICATION. I WILL BE HANDLING ALL ASPECTS OF THAT GOING FORWARD TO AVOID THAT MISCOMMUNICATION. SO THAT'S WHAT THAT IS. THE NEXT THING YOU'LL SEE IS DOWN UNDER RESTRICTED TOWARDS THE BOTTOM.

YOU'LL SEE $23.5 MILLION ON A TEX DOT PROJECT. THERE ARE TWO THINGS THAT ARE DIFFERENT ABOUT THIS. FIRST ONE IS KAYLEE WAS DOING RESEARCH ON SOMETHING, AND SHE CAME ACROSS SOME OLD RESOLUTIONS, AND THE RESOLUTION WAS FROM. 2024 IS WHERE THE SECOND RESOLUTION WAS. THE

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THAT IS WHAT WE INTEND FOR THESE FUNDS. THESE FUNDS ARE RESTRICTED. YOU CAN ALWAYS DO ANOTHER RESOLUTION TO MOVE THEM. IF SOMETHING IS DEEMED. WHATEVER THE BOARD DESIRES. BUT THAT'S WHAT THAT NUMBER IS. IT USED TO BE DOWN UNDER THE RESERVES COLUMN AND IT WAS A LITTLE BIT LESS. I THINK IT WAS AT 16 MILLION. BUT WHEN KAYLEE DID THIS RESEARCH, WE FOUND, WELL, SHE FOUND THE 2017 RESOLUTION THAT WE REALLY NEEDED TO APPLY TO THIS AS WELL.

SO THAT'S THE DIFFERENCE IN THAT. DOES THAT MAKE SENSE? TOOK ME A WHILE. HAD TO DO A LOT OF MATH. YOU A QUESTION REAL QUICK JUST FOR CLARITY. YES SIR. THERE'S A 2017 RESOLUTION AND THEN A 2024. DID THE 2024 CHANGE THE 20. WHAT'S THE DIFFERENCE BETWEEN THE TWO RESOLUTIONS? THAT'S A GOOD QUESTION. THE 27 THE 20 1717 RESOLUTION PUT $15 MILLION INTO THIS TEX DOT THE 2024 RESOLUTION, AND I CAN GET YOU ALL COPIES OF THESE SO YOU HAVE THEM ADDED ANOTHER 15 MILLION AND JUST ACKNOWLEDGE THAT THE FULL FIRST 15 MILLION HAD NOT BEEN EXPENDED. THAT WAS REALLY ALL IT DID. OKAY, YOUR MATH DOESN'T ADD UP. YEAH, I PROBABLY HAVE ANOTHER. THERE'S ANOTHER 7.5, 30 MILLION. YOU SAID Y'ALL SPENT 4.5 AND THERE'S 7.5 IS DOWN THERE AS WELL ON MY NOTES. SORRY, I DIDN'T READ MY WHOLE NOTES. OH, YOU GOT 235 SHOWING. SO WOULD WE SEND 6.5 OR SO. DID WE SPEND 6.5. YOU SPENT ANOTHER 2 MILLION. IT'S UP HERE. THE 2 MILLION VERTEX DOT IS IN THE TOP. WE JUST DID IT. WE JUST DID A TEXT. YEP. RIGHT THERE. OH. WHERE'D IT GO? THREE, FIVE AND SEVEN. IT WAS MAY OF 2026.

SO WE PAID THAT OUT IN. SO WE ONLY 0235. YEAH, WE SPENT SIX AND A HALF. WE HAD THAT 2,000,004 AND A HALF. OKAY. YES. THANK YOU FOR THAT. SO DOES THAT MAKE SENSE ON THE BALANCE SHEET? I JUST WANT TO MAKE YOU REALLY AWARE OF THE CHANGES I MADE. AND I DON'T HAVE THE PREVIOUS ONE IN FRONT OF ME. BUT YOU SAID AT THE VERY BEGINNING OF YOUR EXPLANATION, THERE WAS A 12.5 THAT IS INCLUDED IN THIS. 25. WE DIDN'T HAVE THE FULL. 25 RECOGNIZED ON THE BALANCE SHEET BECAUSE WE HAD IT RECOGNIZED UNDER THE UNRESERVED. I HEAR WHAT YOU'RE SAYING. YEAH, WE HAD IT RECOGNIZED IN THE RESERVED, NOT IN THE RESTRICTED. I MOVED IT TO RESTRICTED BECAUSE WITH A RESOLUTION THAT DOES RESTRICT YOUR FUNDS. RIGHT, RIGHT. SO BEFORE I THINK IT WAS, I'LL GET I'LL PULL THE OTHER ONE. BUT IT WAS I'M ALMOST POSITIVE WAS 16 MILLION DOWN THERE. I GUESS MY QUESTION IS JUST SPECIFIC TO THE VERY FIRST THING YOU SAID AT THE BEGINNING OF THE EXPLANATION OF THIS WAS A 12.5. IS THAT RIGHT? IS THAT THAT'S WHAT I WAS LOOKING FOR INITIALLY WAS THE 12.5 YOU MENTIONED. AND I WASN'T SURE WHERE IT WENT OR HOW THAT I DON'T KNOW, DID I MAKE I WAS WAS 16. LET ME LOOK BACK MY NOTES. I DON'T REMEMBER 12.5. FROM THE ORIGINAL RESOLUTION. EXCUSE ME, COULD YOU COME TO THE PODIUM, PLEASE? THANK YOU. THAT MAY HAVE BEEN FROM THE ORIGINAL RESOLUTION, SO I'M LOOKING. THAT WOULDN'T HAVE BEEN REFLECTED BY THE TIME YOU SAW FINANCIALS BECAUSE WE WOULD HAVE ALREADY ADDED AN ADDITIONAL. SO YOU WOULDN'T HAVE SEEN 12.5. YOU WOULD HAVE SEEN THE THE LARGE NUMBER, THE. OKAY. YES, IT WOULD HAVE BEEN IN THE 16 THAT KAYLA WAS TALKING ABOUT. OKAY. YES. GOTCHA. OKAY. THANK YOU. SORRY ABOUT THAT. NO YOU'RE GOOD. SO SO THE WAY I'M READING THIS, WE HAVE 1,000,009 THAT WAS NOT COMMITTED TO SOMEBODY. YES AND YES. NOW THERE IS A DIFFERENCE. IF YOU LOOK AT THE FIXED FUND BALANCE OF 25 MILLION, THAT IS WHAT I'LL ALWAYS REFER TO AS DRY POWDER AS MR. PUTIN DID. SO THAT'S 25 MILLION IS NOT REALLY APPROPRIATED TO ANYTHING THAT CAN BE ALLOCATED HOWEVER YOU WANT. AND IT'S MAYBE BECAUSE WE DID IT LAST MONTH, I DON'T SEE IT'S NOT GOING TO BE ON HERE. IT'S NOT GOING TO BE ON HERE.

THE 10 MILLION, THE TEN AND THE TWO. SO THAT IS IN MY NOTES. THANK YOU FOR SAYING THAT. I HAVE TO STILL PULL ALL THE APRIL RESOLUTIONS AS I DO THE APRIL BOOKS, AND THAT'S SPECIFICALLY GOING TO TOUCH THE 15 MILLION THAT WE HAVE JUST BELOW THAT. NO, THAT 15 MILLION.

[00:35:04]

OKAY. OKAY. SO GOOD. THE NEXT PAGE IS JUST A STATEMENT OF REVENUES, EXPENDITURES AND CHANGE IN FUND BALANCE. THERE ARE A COUPLE OF THINGS I WANT TO NOTE ON HERE. YOU'LL SEE THE ORIGINAL BEGINNING FUND BALANCE HAS DECREASED ONCE WE GOT OUR 24 AUDIT. SO HOWEVER HAVING SAID THAT, OUR ANTICIPATED FUND BALANCE FOR THE END OF FISCAL YEAR 26 BASED ON CURRENT TO DATE IS GOING TO BE $1.5 MILLION ABOVE WHAT WAS ANTICIPATED AFTER THE 24 AUDIT WAS COMPLETE. SO 26 REVENUES THAT MAINLY DERIVES FROM THE REVENUES ARE BEING UP. WE STILL ARE GETTING REALLY GOOD RETURNS ON THE INVESTMENT INCOME THAT'S STILL HELPING. SO THAT SO THAT'S GOOD ON THIS PAGE. ANOTHER THING I WANTED TO POINT OUT WHILE WE WERE ON HERE IS THE ODC AUDIT FOR 25 IS FINALIZED. I WILL HAVE IT IN MY HOT HANDS NEXT MEETING AND WE'LL GO OVER THAT. THE DIFFERENCE BETWEEN WHEN FROM THE 24 AUDIT, THE REASON OUR FUND BALANCE CHANGED WHEN WE FROM WHEN WE DID THIS BUDGET IS BECAUSE THE WAY WE HAVE TO ACCRUE THESE CONTRACTS. SO WE WERE ACCRUING MORE ON THE YEAR TO YEAR BASIS. AND FOR THE AUDIT, WE HAD TO CONVERT THAT YEAR TO YEAR BASIS FOR LAUGH BASIS. SO IF WE HAD A CONTRACT THAT WAS FOUR YEARS, ALL FOUR YEARS, THAT CONTRACT HAD TO BE ACCRUED, IF THAT MAKES SENSE.

SO WE IN GOOD FAITH ASSUME THAT THEY'RE GOING TO MEET THE TERMS OF THEIR CONTRACT. SO WE ACCRUE THOSE FUNDS. SO THAT'S WHY THERE WAS A LITTLE BIT OF CHANGE IN THE FUND BALANCE THERE. THE NEXT PAGE IS JUST YOUR RESERVES. I THINK WE'VE PRETTY MUCH GONE OVER THAT. THE ONLY ONE I WANT TO POINT OUT IS THE AMBER YOUNG. YOU'LL SEE ON THE FACADE GRANT. THAT'S THE PRODIGY IMAGING THAT JUST GOT PUT DOWNTOWN. BUT I THINK EVERYTHING ON HERE IS AS EXPECTED. THERE'S THE THE 2 MILLION THAT I WAS TALKING ABOUT. ANY QUESTIONS? THE NEXT ONE IS THE INVESTMENT SUMMARY. THESE ARE ALWAYS PRETTY PRETTY STANDARD. YOU WILL NOTICE ON OUR AGENCY NOTES WE DID HAVE A LOSS ON SOME OF THOSE FUNDS. IT MIGHT BE WE NEED TO DO THE INVESTMENT COMMITTEE AND LOOK AT THINGS. INVESTMENTS ARE MY WEAKEST POINT, SO I'LL DEFER TO YOU, MR. BUCKSTONE, ON THAT. BUT WE DID HAVE A BIT OF A DECLINE. I DON'T KNOW THAT THAT'S GOING TO MAINTAIN. I DID A QUICK RESEARCH AND DOESN'T SEEM THE MARKETS TOO WORRIED ABOUT IT. BUT WE DID HAVE SOME DECLINE IN THAT. THE OTHER ACCOUNTS THE INTEREST WAS WAS PRETTY GOOD. IT THE INTEREST ON THE OTHER ACCOUNTS SEEMED TO BE IN LINE WITH WHAT THEY HAVE BEEN OVER THE PERIODS. THEY DECLINED OR THEY DECLINED BASED ON MARK MARK TO MARKET, THE AGENCY NOTES, WAS MARKET DECLINE. OKAY, SO IF WE HOLD THEM, WE'RE NOT GOING TO LOSE ANY MONEY. THAT'S OKAY. WE'RE ALL UNREALIZED. OKAY, OKAY. AND THE NEXT PAGE JUST GIVES YOU THE FULL DETAIL OF THOSE INVESTMENTS. AGENCY NOTES. SO I DIDN'T THINK THAT OUR DECREASE IN INTEREST RATE OVERALL WAS TOO BAD FOR WHAT'S GOING ON. SO IT LOOKS LIKE Y'ALL CHOSE WELL ON THOSE INVESTMENTS. YEAH. ANY QUESTIONS. MOTION TO APPROVE FINANCIAL STATEMENTS. SO MOVED.

THANK YOU ALL. ALL IN FAVOR. ANYONE OPPOSED. THANK YOU THANK YOU THANK YOU. OKAY. WELL

[8. ODC Committee and Officer reports]

SCHROEDER. SCHROEDER. BRIAN SCHROEDER. HE'S FULL TIME. THEY MADE HIM FULL TIME HERE. SO THAT'S GOOD. SO ODESSA PARTNERSHIP MEETS EVERY COUPLE OF MONTHS. THIS WAS THE MEETING FOR MAY. I BELIEVE THERE'S A NEW MEETING SET FOR POSSIBLY AUGUST. BUT EVERYONE WAS PRESENT WITH THE EXCEPTION OF THE MAYOR. BUT AARON SMITH WAS THERE ON BEHALF OF THE CITY.

[00:40:01]

MEETING TO GO OVER THAT GOLDEN SHOVEL ISSUE, AND WE'LL HAVE A REPORT FOR YOU TO MAKE A DECISION IF YOU WANT TO DO THAT, THE COMPLIANCE COMMITTEE DO ANYTHING DIFFERENT, DON'T MEET.

I THINK THEY RESCHEDULED. THEY RESCHEDULED. THAT'S WHY THEY HAVE SOME PEOPLE I THINK I DON'T KNOW IF THEY'RE ON THE AGENDA TO BE REAPPOINTED TO THE COMPLIANCE COMMITTEE. YEAH, I THINK THERE'S ONE TODAY. TODAY. YEAH. WE'LL TALK ABOUT IT FURTHER DOWN. OKAY. WE HAVEN'T MET THE INVESTMENT GROUP AGAIN. SO I GUESS WE NEED TO FIGURE OUT IF WE WANT TO STAY IN WHAT WE'RE DOING, AND WE NEED TO MAKE SURE WE'VE GOT MONEY AVAILABLE WHEN THIS MONEY'S COMING DUE, THAT WE NEED TO PAY PEOPLE. SO WE NEED TO LOOK AT THAT. SO WE NEED TO GET TOGETHER. WE'LL SET SOMETHING UP. JEFFERSON. OKAY. MIKE. AND DO ANYTHING WITH WATER. NO

[9. Appoint members to the Compliance Committee ]

MELANIE WE HAVEN'T I HAVEN'T HEARD ANYTHING ABOUT HER APPLYING. SHE WAS SHE WAS APPOINTED AT THE AT THE LAST ODC BOARD. YES WE DID. OKAY. YEAH. HAVE Y'ALL LOOKED AT THAT.

SHE DID SEND US THE APPLICATION ON THIS LADY. SHE'S. DO YOU HAVE IT IN FRONT OF YOU? IT'S IN A DIFFERENT EMAIL. YEAH. LET ME SEE THAT. I DON'T KNOW IF Y'ALL WANT TO READ EVERYTHING SHE HAS DONE. ANYBODY HAVE ANY PROBLEMS WITH PUTTING HER ON COMPLIANCE OR WHAT'S HER NAME.

NANCY. I DON'T RECOMMEND IT. I ACTUALLY RECOMMENDED HER APPLY. SHE SHE'S A. WELL, TELL US ABOUT HER THEN. WELL, I DON'T KNOW HER. SHE'S A REALLY SHARP YOUNG LADY. SHE'S PROBABLY ONE AGE DOESN'T MATTER, BUT SHE HAS A LAW DEGREE, INTERNATIONAL LAW DEGREE, AND SHE HAS AN ACCOUNTING DEGREE AND SHE HAS A MASTER'S IN BUSINESS. AND AND SO SHE WANTS TO MAKE A DIFFERENCE. THE THING IS, QUITE FRANKLY, SOME OF THE BECAUSE I SAID ON A NON OBJECTIVE ON THE COMPLIANCE COMMITTEE AND IT'S GOTTEN KIND OF COMPLACENT. SO SOME OF THE MEMBERS ARE REALLY GOOD AND THEY'VE BEEN THERE A LONG TIME. BUT WHEN YOU GO AROUND THE ROOM AND NOBODY WANTS TO BE THE CHAIR OF THE COMPLIANCE COMMITTEE, THEN WE NEED TO START LOOKING FOR NEW PEOPLE THAT THAT HAVE A SOMETHING MORE IN MIND THAN JUST, WHAT IS THIS A TOKEN JOB OR TITLE OR SOMETHING MAKE YOU FEEL GOOD? LIKE I SAID, SHE'LL BE REALLY GOOD FOR ODESSA. AND SHE HAS A, SHE HAS A GOOD, SHE'S A GOOD PERSON THAT HAS A GOOD HEART. SO YOU'RE NOMINATING HER TO THE. IS THERE A SECOND? I'LL. SECOND. ANYONE PROPOSED ANY DISCUSSION? WELL, LET'S PUT IT ON THERE AND GET HER TO WORK. I MEAN. OKAY. ALL RIGHT. ALL IN FAVOR. AYE.

OPPOSED. OKAY. DO WE HAVE ANY MORE VACANCIES? I'M NOT SURE. TWO. YES. THERE'S STILL TWO MORE. WELL, POSSIBLY ONE. JUST ONE. OKAY. AND I THINK THAT'LL HELP. I DON'T KNOW HER SINCE SHE'S NOT AN ATTORNEY. I THINK TO MR. PHILLIPS POINT, YOU KNOW, WE WE NEED MORE PEOPLE ON THE

[00:45:06]

[10. Discuss and consider project compliance and first annual incentive payment for Downing Wellhead Equipment, LLC]

AND WE HAVE WITH US TODAY FROM OKLAHOMA CITY. I WOULD ASK THAT ADAM MORNING WITH DOWNING WELLHEAD EQUIPMENT. PLEASE COME FORWARD. AND HE'LL BE ABLE TO ANSWER ANY QUESTIONS THAT YOU MAY HAVE. THIS RESOLUTION IS IN YOUR PACKET. HE CAN TELL YOU A LITTLE BIT ABOUT THE PROJECT AND WHERE WE STAND. I BELIEVE WITH COMPLIANCE, THEY THEY'VE MORE THAN MET THEIR NUMBERS. SO THANK YOU, ADAM, FOR COMING OUR WAY. THANK YOU. APPRECIATE YOU HAVING ME TODAY. GOOD AFTERNOON EVERYBODY. FIRST OFF, I JUST WANT TO SAY I'M VERY GRATEFUL FOR THE PARTNERSHIP BETWEEN THE ODC AND DOWNING AND THE AGREEMENT THAT'S IN PLACE. JUST FOR THOSE THAT AREN'T AWARE OF THIS PROJECT. THE AGREEMENT WAS SIGNED BACK IN SEPTEMBER OF 23, AND IT WAS TO BASICALLY, WE HAD TWO FACILITIES IN MIDLAND THAT WE COMBINED TO A MUCH LARGER FACILITY IN ODESSA, AND THIS AGREEMENT WAS VERY MUCH A PART OF MAKING THAT HAPPEN. SO THE FACILITY WAS FINISHED AND WE MOVED IN. FINALLY, AFTER A FEW CONSTRUCTION DELAYS IN SEPTEMBER OF 25, FULLY OPERATIONAL OUT OF THERE IN SEPTEMBER OF 25, WE. SO THE AGREEMENT ITSELF IS BUILT ON EMPLOYEE HEADCOUNT, ANNUAL PAYROLL, AND THEN CAPITAL INVESTMENT. RIGHT. SO WE WENT THROUGH THE AUDIT COMPLIANCE REPORT, AND I BELIEVE YOU SEE THAT IN FRONT OF YOU. BUT WE ACTUALLY EXCEEDED THE REQUIREMENTS FOR NOT JUST YEAR ONE, BUT YEAR TWO OF THE OF THE AGREEMENT, RIGHT? SO COMPLIANCE REPORT WILL SHOW THAT WE RETAINED THE 57 EMPLOYEES. THAT WAS A REQUIREMENT FOR YEAR ONE. AND WE'RE AT THE END OF THE COMPLIANCE REPORT. WE WERE ACTUALLY AT 71 FULL TIME EMPLOYEES, WHICH EXCEEDS THE REQUIREMENTS FOR YEAR TWO. WE WERE ADDING SUPPOSED TO ADD TEN EMPLOYEES. WE ADDED 14 ALREADY. AND JUST TO TO LET YOU KNOW WHERE WE'RE AT TODAY, IT'S NOT IN THE COMPLIANCE REPORT, BUT CURRENTLY WE WERE WE'RE AT 100 FULL TIME EMPLOYEES AND 11 MILLION IN ANNUAL PAYROLL, WHICH ACTUALLY THE ANNUAL PAYROLL NUMBER EXCEEDS THE TOTAL FOR YEAR FIVE. SO WE'RE WELL AHEAD OF THE THE REQUIREMENTS OF THE AGREEMENT. THERE IS A MECHANISM IN THE AGREEMENT FOR. WHEN WE EXCEED REQUIREMENTS, YOU CAN INCREASE THE INCENTIVE PAYMENTS BASED ON EXCEEDING THOSE REQUIREMENTS.

SO MY ASK TODAY WOULD BE HUMBLE. ASK THAT YOU WOULD CONSIDER INCREASING THE INCENTIVE PAYMENT TO NOT ONLY CAPTURE YOUR ONE, BUT YEAR TWO, SO THAT THE TOTAL AGREEMENT IS FOR 1.64 MILLION IN INCENTIVES OVER FIVE YEARS. SO $328,000 A YEAR. SO TWO YEARS OF THE AGREEMENT WOULD BE. 656,000. SO THAT IS MY ASK. RENEE, DID TIME. WE'VE DONE THIS ONCE BEFORE, ONCE OR TWICE BEFORE. I'M SORRY. ASK THAT QUESTION AGAIN. WE'VE DONE THIS ONCE OR TWICE BEFORE, BUT I DON'T REMEMBER THE THE, THE PROJECT THAT TOM HAD MENTIONED. HE DID NOT MENTION THE PROJECT.

AS LONG AS, YOU KNOW, YOU HAVE THE INFORMATION PER YEAR TO MEET. SO IT'S, IT'S, IT'S BEEN THE THE PRECEDENT HAS BEEN MET BEFORE. SO, SO THE FIRST PAYMENT WAS DUE. IF EVERYTHING WAS ON TIME, WE WOULD HAVE PAID YOU IN SEPTEMBER OF 25. THAT IS CORRECT. CORRECT. YOU'RE ASKING US TO PAY SEPTEMBER 25TH AND GO AHEAD AND PAY YOU SEPTEMBER 26TH. I MOVE THAT WE DO THAT.

SECOND AND IT WAS LATE. YOU KNOW, WE YOU ALL HAD SOME ISSUES WITH COMPLIANCE AND

[00:50:05]

THANK YOU FOR YOUR FOR YOUR BUSINESS COMMUNITY SUPPORT. AND NOW THIS WILL GO TO DOES IT GO BACK TO COUNCIL. NO IT DOES NOT. OKAY. IT'S ALREADY APPROVED. ALL RIGHT. WELL WE WILL WORK ON GETTING YOU A CHECK. AWESOME. THANK YOU, THANK YOU THANK YOU. ALL RIGHT. THANK YOU SO MUCH.

PLEASE BE SAFE. HEADED BACK TO OKLAHOMA CITY. WORK ON SOUTHWEST AIRLINES GETTING US A DIRECT FLIGHT THERE. WE'LL GIVE YOU YOUR THREE IF YOU DO THAT. YES. ALL RIGHT. I BELIEVE WE

[11. Discuss and consider revised payment structure for Team Refurb grant approved on April 9, 2026 ]

SO TOWNSEND AND I STARTED TEAM REFURB OURSELVES ABOUT FOUR YEARS AGO WITH OUR OWN MONEY.

WE BOTH ESSENTIALLY QUIT OUR CORPORATE JOBS, TOOK THE PATH OF ENTREPRENEURSHIP, DIDN'T TAKE A PAYCHECK FOR SEVEN, EIGHT, NINE MONTHS A YEAR. FORTUNATE FOR US. BOTH OF OUR WIVES WORKED AT THE TIME. THEY STILL DO, BUT BASICALLY SUPPORTED THE HOUSEHOLD. WHY? WE PURSUED OUR DREAM AND JUST THE TWO OF US STARTED A COMPANY ALL BY OURSELVES. AND THEN WE WERE ABLE TO GROW ENTIRELY OUT OF OPERATING CASH FLOW. WE STARTED OFF, IF ANYBODY'S STARTED A BUSINESS WITH BASICALLY NO MONEY, WE TOOK THE FACTOR INVOICE ROUTE WHERE YOU SELL YOUR INVOICE AT A VERY HIGH PERCENTAGE, BUT YOU GET CASH LIKE NEXT DAY. WE HAD TO DO THAT FOR ABOUT 12 MONTHS. WE WERE ABLE TO OUTGROW THAT BY MAKING ENOUGH MONEY, BUT WE'VE BEEN GROWING THUS FAR, ESSENTIALLY DEBT FREE. AND WHAT WE'RE LOOKING AT NOW AND WHAT'S IN THE APPLICATION WE SUBMITTED IS ESSENTIALLY A, YOU KNOW, A CAPITAL EXPENDITURE OF APPROXIMATELY $5 MILLION, WHICH IS A HUGE NUMBER FOR US. AND AS WE SET UP THAT DEBT FINANCING, ESSENTIALLY THE REQUEST IS IF WE WOULD BE ABLE TO POTENTIALLY START THE AUDIT AT 12 MONTHS FROM THE DATE OF SUBMISSION OF OUR APPLICATION, WHICH WAS DECEMBER OF 25. AND THEN I ALSO WANTED TO PROVIDE AN UPDATE. SO WE WHEN WE SUBMITTED THE APPLICATION IN DECEMBER OF LAST YEAR, WE HAD 44 TOTAL EMPLOYEES HERE IN ODESSA. WE FORECASTED WE COULD GROW TO 71 TOTAL. AND AS OF TODAY, WE'RE AT 65 EMPLOYEES. SO WE'RE WE'RE AT 77% OF THE ESTIMATE ALREADY. SO THE REQUEST IS IF WE'RE ABLE TO ESSENTIALLY START THE CLOCK FROM THE DATE OF THE APPLICATION. AND THEN ADDITIONALLY, IF WE'RE ABLE TO GET A LARGER PERCENTAGE OF THE GRANT, ASSUMING PASS THE AUDIT ON THE FRONT END WITH THE WITH THE FIRST PAYMENT, THAT WOULD JUST BE HELPFUL FOR US FOR A SMOOTH TRANSITION AS WE CONTINUE TO GROW THE COMPANY, CREATE JOBS, AND DELIVER FOR OUR CUSTOMERS OUT HERE IN WEST TEXAS. AND I'LL ALSO POINT OUT, AND I HONESTLY, I FORGOT THIS UNTIL TOWNSEND JUST REMINDED ME WHEN WE'RE SITTING HERE, WE NAMED THIS THING PROJECT DRAGONSLAYER. SO WHEN WE FIRST MET DRAGON. YEAH. WHEN WE KNOW WHEN WE FIRST MET WITH TOM MANSKY, THIS WAS A WHILE AGO, PROBABLY A YEAR AGO, RIGHT? HE'S LIKE, HEY, WE NEED A NAME AND DRAGONSLAYER. IT SOUNDED COOL. BUT ALSO THE BEHIND THAT IS WHERE WE WERE AND STILL ARE A SMALL COMPANY RELATIVE TO OUR COMPETITION. SO A LOT OF OUR COMPETITION IN THE EQUIPMENT MANUFACTURING SPACE ARE LARGE CORPORATIONS IN HOUSTON, DFW, SOME OF THEM ARE TEN FIGURE BUSINESSES. MANY OF THEM ARE NINE FIGURE BUSINESSES. AND WE'RE JUST WE'RE JUST TWO GUYS AND STARTED TURNING WRENCHES. SO WE'RE LIKE, HEY, WE'RE GOING TO TRY TO SLAY A DRAGON. SO ANYWAY, WE THOUGHT IT WAS CLEVER AT THE TIME, BUT I WANTED TO SHARE WITH YOU GUYS THAT CONTEXT FOR THE REQUEST AND TOWNSEND. YEAH, I JUST WANTED TO SAY THANK YOU FOR APPROVING THIS. I MEAN, WE'VE ME AND MY FAMILY, ALL OF US HAVE BEEN PRAYING FOR THIS AND THIS GETTING APPROVED FOR US. AND IN APRIL OF THIS YEAR IS

[00:55:04]

WE'VE BEEN WORKING SO HARD GETTING THIS BUSINESS TO WHERE WE ARE AND Y'ALL SUPPORT US IS TREMENDOUS. WE'RE WE'RE EMPLOYING A LOT OF REALLY GREAT PEOPLE HERE IN ODESSA. WE'RE INNOVATING REALLY COOL EQUIPMENT. WE'VE GOT SOME REALLY GREAT GUYS ON THE TEAM.

AND SO THIS IS JUST VERY EXCITING. I'M PROUD TO BE A PART OF IT AND APPRECIATE Y'ALL.

SO JUST JUST TO CLARIFY, AND WE'RE OPEN TO SUGGESTIONS, BUT IF WE'RE ABLE TO START THE CLOCK WITH THE DATE OF THE APPLICATION 12 MONTHS FROM DECEMBER, AND THEN A LARGER PERCENTAGE OF THE AWARDED GRANT, ASSUMING IT GETS AWARDED AND WE PASS THE AUDIT ON THE FRONT END IS THE REQUEST, BUT OPEN TO ANY SUGGESTIONS. AND WE'RE JUST TRYING TO. AND THE RATIONALE FOR THE REQUEST IS THIS IS A AGAIN, A BIG JUMP FOR US FINANCIALLY. WE'RE JUST TRYING TO BE AS CONSERVATIVE AS WE CAN FOR THE BUSINESS. ANY QUESTIONS? IS FOR THE SOLE PURPOSE, AND THAT MIGHT BE THE RIGHT WAY TO ASK. THIS IS THE INCREASE IN EMPLOYEES. IS THAT YOUR MAJOR BASIS FOR COMING IN AND ASKING AGAIN OR MAKING THIS THIS I GUESS, YES, SIR. OKAY. IT'S THAT. AND ALSO WE IN OUR CURRENT FACILITY THAT WE'RE LEASING RIGHT NOW IS 55,000 SQUARE FOOT, BUT IT'S NOT ADEQUATELY DESIGNED FOR OUR OPERATION. AND SO WE'RE FIXING TO PUT FIXING TO PURCHASE A FACILITY THAT'S GOING TO WORK GREAT FOR US. WE'LL PULL THROUGH BAYS THAT'S GOING TO MAXIMIZE EFFICIENCY EFFICIENCIES AND REALLY HELP THE BUSINESS OVERALL. SO THAT'S WHAT'S KIND OF DRIVING THIS INITIAL CHANGE. AND WHAT I WAS GOING TO ASK IS, BECAUSE I'M NEW TO THIS, BEAR WITH ME. THIS IS MY FIRST TIME DOING THIS, OWNING A COMPANY AND THEN SITTING IN FRONT OF Y'ALL. HAS THERE EVER BEEN SITUATIONS IN THE PAST WITH THESE GRANT DEALS TO WHERE, IF, YOU KNOW, WE WERE APPROVED IN APRIL, WE'VE ALREADY PRACTICALLY MET OUR NUMBERS FOR THE FIRST YEAR TO BE ABLE TO HAVE SOME MONEY ON THE FRONT END, TO BE ABLE TO USE AS A DOWN PAYMENT FOR OUR FACILITY AND OUR PURCHASE THAT WE'RE GOING TO GET NOW. SO THAT WAY WE MAINTAIN OUR OPERATING CASH FLOW, HAVE ACCESS FOR CAPITAL, BECAUSE WHAT I WILL TELL YOU IS, AND I'VE LEARNED THIS FROM HIM, IF YOU CAN'T, HE'S A HE'S A MONEY GUY. HE'S A SMART GUY. I'M JUST A MECHANIC IN A WELDER. I KNOW HOW TO BUILD STUFF AND FIX STUFF. THIS IS ALL NEW TO ME, BUT STARTING THE COMPANY ALMOST FOUR YEARS AGO IN A FLATTISH TO DOWN MARKET. WE'VE BEEN VERY SMART WITH OUR MONEY, THANKS TO HIM.

AND THEN I LEARNED IF YOU JUST YOU JUST DON'T SPEND IT, WHICH IS A GOOD THAT'S THE TRICK. YOU JUST DON'T SPEND MONEY. YEAH. AND BUT, YOU KNOW, WE'VE GOT, WE'VE GOT SOME SIGNIFICANT INVESTMENTS COMING UP, HENCE DRAGONSLAYER. AND IF THERE'S ANYTHING YOU GUYS COULD DO TO HELP US ON THE FRONT END THAT WOULD ALLOW US TO MAINTAIN THE CAPITAL THAT WE HAVE FOR NOW THAT THE MARKET'S HOT AND HEAVY, QUICK ACCESS TO CASH FOR TURNAROUND, BUYING EQUIPMENT, ENGINES, TRANSMISSIONS, FRAMES, STUFF LIKE THAT FOR ADDITIONAL MARGIN WOULD BE SUPER HELPFUL, BUT I'M NOT SURE IF THAT'S APPLICABLE IN THIS CASE OR SOMETHING YOU GUYS HAVE DONE IN THE PAST. WHAT'S THE PRECEDENT? I'M SORRY, I'M SORRY. I THINK THEY'RE BASICALLY ASKING FOR A FAST TRACKING OF THE PAYMENT BECAUSE HELP ME OUT A LITTLE BIT, RATHER THAN IN 12 MONTHS.

THEY'VE DONE IT IN A SHORTER PERIOD OF TIME. THAT'S CORRECT. YEAH. SO WE'RE I THINK TO YOUR QUESTION, IT'S WE'RE WE'RE GROWING FASTER THAN WE EXPECTED WHEN WE SUBMITTED THE APPLICATION. SO IT'S PREVIOUSLY THE AUDIT WOULD BEGIN AFTER THE FIRST YEAR AFTER IT'S AWARDED, WHICH WOULD HAVE BEEN LAST MONTH. SO A YEAR, APRIL 27TH IS WHEN THE AUDIT WOULD BEGIN. I BELIEVE THAT'S CORRECT. YOU GUYS ARE ASKING, INSTEAD OF WAITING 12 MONTHS FROM APPROVAL, 12 MONTHS FROM SUBMISSION, THAT'S DECEMBER. BUT Y'ALL HAVE NOT SPENT THE $5 MILLION ON CAPEX YET. THAT'S CORRECT. WE HAVE WE HAVE NOT ACTUALLY PURCHASED THE FACILITY. OKAY.

THAT'S THAT'S THAT'S WE'RE STARING AT THAT RIGHT NOW. SO THAT WAS PART OF MY UNDERSTANDING. THAT'S PART OF WHAT COMPLIANCE LOOKED AT IS IN THEIR MATRIX WAS THAT Y'ALL WOULD HAVE SPENT THE 5 MILLION, AND THEN YOU WOULD HAVE STARTED HIRING THE EMPLOYEES. I'M JUST LOOKING AT THEIR MATRIX DEAL AND THE CAPITAL. WE'RE NOT WE'RE NOT FUNDING A LOT OF BASED ON THE CAPEX, WE'RE WE'RE FUNDING MORE BASED ON THE EMPLOYEE EMPLOYEES. CORRECT.

MORE EMPLOYEES. YES, SIR. YEAH. RETENTION AND CREATION. SO IF WE IF WE SPEED IT UP, I DON'T KNOW HOW MUCH OF THE MONEY WE WOULD GIVE YOU TO DO CAPEX. IT SOUNDS LIKE WHAT YOU'RE ASKING FOR. YES, SIR. WE'RE JUST LIKE I SAID, THIS IS THIS IS NEW TO ME. THIS IS NEW TO US. SO JUST WHATEVER MAKES SENSE TO YOU GUYS. WE'RE JUST ASKING FOR WHATEVER HELP THAT YOU GUYS CAN GIVE US IS APPRECIATED. WELL, ONE OF THE THINGS THAT WE DON'T DO IS GIVE MONEY IN ADVANCE, BECAUSE THAT'S NOT HOW IT USED TO HAPPEN. AND PEOPLE WOULD GO OUT OF BUSINESS AND WE'RE OUT.

UNDERSTOOD. YES, SIR. AND I THINK IT'S MAY BE ACTUALLY WE AND TELL ME IF I'M WRONG, BUT WE'VE TALKED ABOUT THIS BEFORE BECAUSE PEOPLE COME IN WANTING MONEY AHEAD AND YOU HAVE TO FOLLOW THE THE PLAN SET OUT. YES, SIR. YOU HAVE TO SPEND YOUR PART AND THEN YOU GET IT BACK. YEAH. AND I DIDN'T MEAN TO OVERSTEP. I DON'T KNOW IF THAT WAS SOMETHING I THINK THAT

[01:00:03]

BECAUSE WHEN THIS CAME UP, I SENT AN EMAIL BACK TO WHOEVER SENT IT AND SAID, SHOULD THIS GO TO COMPLIANCE FIRST? BECAUSE I DIDN'T KNOW THESE GUYS WERE GOING TO SPEND THEIR TIME TO COME TALK TO US TODAY AND US NOT BE ABLE TO DO IT. I MEAN, THAT'S WHY I'M WELL, SO I'M ASKING THE QUESTION JUST FOR YOU TO CONSIDER THE DATE OF THE. I THINK WE CAN CHANGE THE DATE ON THE AUDIT DEAL. BUT SO WHAT I GUESS, AND THIS IS PROBABLY FOR TIM AND YOU, TOM, WHAT IS THE PRECEDENT PRECEDENT OF DOING SOMETHING LIKE THIS? AND THEN ARE WE OPENING UP A DOOR FOR OTHER PEOPLE TO COME AND DO THE SAME THING? IF WE DO THIS AND I DON'T HAVE REALLY HAVE AN ISSUE WITH IT, I'M JUST CURIOUS. WELL, BUT PAYMENT STILL WOULDN'T BE MADE. THEY'RE GOING TO BE BASED ON THE APPROVAL OF WHAT THEY'VE DONE, EVEN THOUGH ALL THEY'RE DOING IS SAYING WE APPLIED EARLIER AND IT TOOK THIS LONG TO GET. YEAH, WE'RE JUST ACCELERATING. CAN WE CAN WE MOVE UP THE CLOCK BECAUSE WE'RE ALREADY IN BUSINESS AND WE'RE DOING WHAT WE SAID. AND I GUESS MY, MY QUESTION TO THAT IS IF WE APPROVE IT, WHICH I THINK IT'S GREAT THAT THEY'VE EXCEEDED, I MEAN, FOR WHERE THEY ARE, ARE WE THEN OPENING THE DOOR FOR, FOR OTHER FOLKS? ARE WE OPENING A DOOR THEN THAT WE CAN'T CLOSE? WELL, AND THAT'S MY REALLY ONLY REALLY WE'LL BE JUST SHORTENING, SHORTENING THEIR CONTRACT, BASICALLY STILL GOING THROUGH THE SAME LOOP TO GET. YEAH, THE MONEY'S STILL OUT THERE. WILL BE CHANGING IT TO WHERE WE'D BE MODIFYING IT MAYBE FOUR AND A HALF YEARS INSTEAD OF FIVE YEARS OR SOMETHING LIKE THAT.

BECAUSE OF CHANGING THE CLOCK. IF I'M UNDERSTANDING CORRECTLY, I'M OKAY. IF WE MOVE THE CLOCK ON PEOPLE WHEN THEY'RE DONE. YEAH, I DON'T HAVE AN ISSUE WITH THAT. I JUST JUST, YOU KNOW, WHEN, WHEN YOU OPEN THE DOOR, A LOT OF OTHER FOLKS WILL COME AND TRY TO TAKE ADVANTAGE.

BUT I THINK, I THINK THE SAFETY NET IS WE'RE STILL NOT PAYING UP FRONT. SURE. YES, SIR. THAT EVERYTHING OUR METRICS THAT WE HAVE TO MEET. RIGHT. YOU'RE STILL GOING TO HAVE YOUR METRICS. WE'RE JUST MOVING THAT DATE UP TO ALLOW YOU SOME TIME. AND IF YOU THINK ABOUT IT, IT REALLY WOULD BE IN THE BENEFIT FOR ODC IF EVERYONE PERFORMED SOONER, REALLY. HOPEFULLY WE DO.

I WOULD SEE HOPEFULLY WE DO OPEN THE DOOR. YEAH. OH AND SHE GOOD POINT. YEAH. I DON'T HAVE AN ISSUE WITH IT. WAS THERE A SECOND REQUEST IN THERE? YEAH, THAT'S WHAT I WAS ABOUT TO MENTION. THE FIRST REQUEST WAS POTENTIALLY MOVE UP DATE AS WE JUST DISCUSSED. BUT ALSO IF WE ARE ABLE TO RECEIVE A LARGER PERCENTAGE, ASSUMING PAST AUDIT AND COMPLIANCE ON THE FRONT END, AS OPPOSED TO, I BELIEVE WHAT WAS DISCUSSED IN APRIL WAS SPREAD OUT OVER FIVE YEARS, EQUALLY SO WEIGHTED HEAVILY ON THE FIRST THE FIRST PAYMENT OR TWO, IF THAT'S IF THAT'S SOMETHING THAT THE COMMITTEE IS IS USED TO WORKING WITH, WE WOULD BE. AND I DON'T THINK THAT WOULD BE SOMETHING THAT WOULD HAVE TO GO TO COMPLIANCE WITH IT. WHAT'S THAT? WOULD THAT HAVE TO GO TO COMPLIANCE? YEAH, I THINK IT WOULD DEFINITELY HAVE TO BE HAVE THAT SECRET MATRIX. I THINK THE APPLICATION WOULD GO TO COMPLIANCE ON ON THE ADDITIONAL MONEY, BUT IT CAN COME AS A RECOMMENDATION FROM US. YEAH. SO WE WOULD WE WOULD VOTE ON, ON THAT AS A CONSIDERATION FOR COMPLIANCE, I BELIEVE. AND IF THAT'S THE CASE, THEN WE COULD GET THAT ON THE NEXT COMPLIANCE AGENDA, WHICH WOULD BE PROBABLY JUNE, DEPENDING ON IF WE GET THE QUORUM FOR WITH THE NEW MEMBERS. YEAH. OKAY. DO WE HAVE A SUGGESTION JUST SO WE'RE NOT INVENTING A WHEEL THAT Y'ALL CAN'T USE, IS THERE A SPECIFIC CHANGE IN THE WEIGHTING OF PAYMENTS IN THE FRONT LOADING THAT YOU GUYS HAD IN MIND INSTEAD OF FROM FROM PREVIOUS CONVERSATIONS WITH MISTER MANSKY, HE, HE MENTIONED IN SOME CASES, YOU COULD GET 50% OF TOTAL GRANT AFTER THE FIRST YEAR, AND THEN THE REMAINING BALANCE SPREAD OUT OVER THE REMAINING FOUR YEARS. OKAY. YEAH, THAT WOULD BE YES, DEPENDING WE MEET OUR METRICS.

YES, SIR. YEAH, YEAH. I THINK THAT'S A COMPLIANCE DEAL. YEAH. SO WE I THINK IS THERE SOMETHING IN HERE FOR US TO RESOLVE OR. YES, I THINK THE AMENDING THE DATE, THE AGENDA ITEM IS JUST TO CONSIDER THE REVISED PAYMENT STRUCTURE FOR TEAM GRANT, WHICH WE'RE NOT

[01:05:02]

OH, OKAY. TODAY'S THE DAY WE CAN DO. I THINK WE'RE MAKING A MOTION TO CHANGE THE DATE, BUT IT'LL BE A RECOMMENDATION TO GO BACK YOUR MOTION. SORRY TO INTERRUPT YOUR MOTION. THE ONLY ACTION CAN BE THE CHANGE OF PAYMENT STRUCTURE. SO YOU WOULD BE LIMITED TO THE DATES.

ANYTHING ELSE WOULD HAVE TO COME BACK TO THE AGENDA AT A LATER DATE. RIGHT. SO WE CAN CHANGE THE DATES ON THE RIGHT. YEAH. THE PAYMENT STRUCTURE, WHICH IS YOUR DATE. SO YOU CAN HAVE A MOTION TO CHANGE THOSE THAT THAT PARTICULAR JUST THE DATES ONLY SO MOVED. SECOND.

ALL IN FAVOR. AYE. ANY OPPOSED. I WANT TO THANK YOU GENTLEMEN I APPRECIATE THAT. THANK YOU. PUT YOURSELF OUT THERE. THANK YOU SO MUCH. THIS IS WHAT ODESSA YOU KNOW ENTREPRENEURIALSHIP IS ALL ABOUT. WE APPRECIATE THAT YOU CHOSE THIS COMMUNITY. YES. I LOOK FORWARD TO WORKING WITH YOU. ONWARD. THANK YOU, THANK YOU, THANK YOU. THANKS. NOW WHAT'S NEXT? DID WE COME UP WITH AN EXACT DATE TO CHANGE IT TO? THAT? THEY. YEAH. OKAY. ALL RIGHT, ALL RIGHT. KELLY, I

[12. Discussion regarding ODC Budget Calendar]

WHAT THEIR REQUEST TO YOU ALL WILL LOOK LIKE FOR CONSIDERATION. WE DO A LOT, SIX WEEKS OF TIME FOR THEM TO PUT THOSE PROPOSALS TOGETHER, BECAUSE THEY CAN BE PRETTY LENGTHY, SO WE WILL NOT RECEIVE THOSE BACK FROM THEM UNTIL THE END OF JUNE. THE CITY'S FINANCE STAFF WILL GO AHEAD AND START BUDGET PREPARATION WORK FOR YOU ALL. JUST THE LOGISTICS, THE SPREADSHEETS, ALL THE THINGS THAT WE HAVE TO PREP ON OUR END. COME THE JUNE ODC MEETING. WHAT WE ARE PROPOSING TO BRING TO YOU IS THE DISCUSSION THAT TAKES PLACE ANNUALLY ON YOUR GENERAL DEVELOPMENT PLAN. AS YOU ALL KNOW, THAT IS KIND OF YOUR STRATEGIC PLAN AND YOUR GUIDING LIGHT FOR THE DECISIONS THAT Y'ALL WILL MAKE. IN THE FOLLOWING YEAR. WE WILL SEND THAT OUT TO YOU JUST SO YOU CAN BECOME FAMILIAR WITH THE CURRENT PLAN YOU HAVE IN PLACE.

GIVE YOU SOME TIME TO LOOK AT IT. AND WHEN WE COME BACK IN JUNE, WE CAN TALK ABOUT ANY OF THE OBSERVATIONS YOU ALL HAD OR ANY CHANGES THAT YOU'D LIKE TO SEE TO THAT STRATEGIC GUIDING PLAN. STARTING IN JULY. ONCE WE RECEIVE THOSE RESPONSES BACK FROM YOUR CONTRACTORS WITH THE

[01:10:01]

IF WE NEED TO LOOK AT ANOTHER DAY THAT WEEK, WE CERTAINLY CAN. ADD THAT SPECIAL MEETING IS WHERE YOU'LL PUT THE FINAL STAMP OF APPROVAL ON YOUR GENERAL DEVELOPMENT PLAN, THE STAMP OF APPROVAL ON THE CONTRACTOR AGREEMENTS, AND THE STAMP OF APPROVAL ON THE BUDGET.

BLESS YOU. THANK YOU. AND ALSO, SORRY, ONE STEP BACK. AT YOUR REGULARLY SCHEDULED JULY MEETING, YOU'LL BE ABLE TO ASK YOUR CONTRACTORS ANY QUESTIONS ON THEIR PROPOSALS. SO I'VE TRIED TO SPACE ALL OF THIS OUT. USUALLY WE TRY TO JUST SHOVE IT ALL IN ONE THREE HOUR MEETING, BUT I FEEL LIKE THIS IS MORE OF A PLANNED APPROACH TO THINGS. LET'S TALK ABOUT THIS SO THAT WE CAN TALK ABOUT THIS, SO THAT WE CAN APPROVE THAT INSTEAD OF JUST SHOVING IT ALL TOGETHER.

SO IF THIS TIMELINE WORKS, WE WOULD BE TAKING ALL OF THOSE APPROVED DOCUMENTS FROM YOU ALL TO CITY COUNCIL FOR WORK SESSION, WHERE YOU LIKELY MR. BLACKSTONE, WILL BE PRESENTING TO COUNCIL OR WHOEVER YOU WANT FROM THE BOARD, WHAT YOU ALL HAVE APPROVED FOR THE COMING YEAR AND THAT WORK SESSION FOR COUNCIL. AND THEN IT GOES TO COUNCIL FOR THEIR FINAL APPROVAL ON THE OTHER SIDE OF THAT, AT THE NEXT MEETING IN AUGUST. OKAY. ANY QUESTIONS ON ANY OF THAT OR COMMENTARY? NOPE. THAT'S GOOD. I DON'T THINK I'M GOING TO BE HERE JUNE THE 11TH, BUT JUST PERSONAL CALENDAR. SO I THINK THAT'S THE REGULARLY SCHEDULED BOARD MEETING. SO WE'LL JUST WHATEVER BOARD MEETING THAT WE HAVE IN JUNE. OKAY. WE'LL WE'LL REVIEW THE GENERAL DEVELOPMENT PLAN. Y'ALL GOT ANY QUESTIONS? OKAY. THANK YOU, THANK YOU, THANK YOU. OKAY.

[13. Upcoming dates for future ODC Board meetings ]

ALL IN FAVOR? AYE. ANYONE

* This transcript was compiled from uncorrected Closed Captioning.