[00:00:05] . >> CALL THE EDC BOARD OF DIRECTORS MEETING TO ORDER. AND FIRST AGENDA ITEM IS INVOCATION. THIS ITEM MAY BE WAIVED AS FULFILLED IN THE PREVIOUS MEETING THIS EVENING. THERE'S NO ONE SCHEDULED. MAY WE MOVE ON? >> PLEDGE OF ALLEGIANCE WE ALSO DID THIS AT OUR EARLIER MEETING. AND ALSO TO THE TEXAS FLAG AND SO WE CAN WAIVE THAT. [2. Call meeting to order;] SECOND AGENDA ITEM IS CALL THE MEETING TO ORDER. IT IS 8:46. I DECLARE IN ACCORDANCE WITH STATE LAW NOTICE OF THIS MEETING WAS POSTED 72 HOURS IN ADD ADVANTAGES OF THE MEETING. THIS POSTING OCCURRED INSIDE THE BOUNDARIES OF THE TOWNSHIP AT THIS OFFICE BILLING. DETERMINATION OF A QUORUM. STATE LAW REQUIRES THAT AT LEAST FOUR OF OUR BOARD MEMBERS ARE HERE TO ESTABLISH A QUORUM. I ASK EACH BOARD MEMBER TO INDICATE YOUR PRESENCE BY RESPONDING WITH AN AUDIBLE SOUND. OF ACKNOWLEDGMENT. . >> IT IS DETERMINED A SUFFICIENT NUMBER OF MEMBERS ARE PRESENT FOR QUORUM. [3. Receive, consider and act upon adoption of the meeting agenda;] AGENDA ITEM 3 TO RECEIVE CONSIDER AND ACT UPON THE MEET LING AGENDA REVIEW IT ON PAGES 1 AND 2 FOR ADOPTION OF THE ASTAIN. I CALL FOR A MOTION AND SECOND. >> SO MOVED. >> SECOND. THANK YOU. >> ALL IN FAVOR SAY AYE. >> AYE. >> OPPOSED. >> SAME SIGN. MOTION PASSES. THERE ARE NO -- ARE YOU A PUBLIC OFFICIAL? >> OKAY. WE WON'T RECOGNIZE YOU. OKAY. HE'S NEVER MET ONE HE DEPARTMENT LIKE. WE'LL MOVE ON TO PUBLIC COMMENT. THERE'S NO ONE SIGNED UP FOR PUBLIC COMMENT. THAT BRINGS US TO AGENDA ITEM 6. ARE YOU 6? WE DON'T HAVE A CONSENT EITHER. OKAY. THERE HAVE NO CONSENT [7. Receive, consider and act upon approving the forms of the Oaths of Office, Officials Bonds and Statements of Elected/Appointed Officers of newly appointed Directors of The Woodlands Township Economic Development Zone;] AGENERAL CARCINOMA ITEMS BRINGING US TO AGENDA ITEM 7 RECEIVE CONSIDER AND ACT UPON IMPROVING STATEMENTS OF ELECTED APPOINTED OFFICERS OF NEWLY APPOINTED DIRECTORS WITH THE WOODLANDS TOWNSHIP ECONOMIC DEVELOPMENT ZONE. YOU CAN REFER TO PAGE 3 AND KAREN, THE CHIEF ADMINISTRATIVE OFFICER WILL PRESENT. THE FORMS ARE THE SAME AS THE TOWNSHIP BOARD OF DIRECTORS. IT'S JUST THEY'RE FOR THE ECONOMIC DEVELOPMENT ZONE. THOSE WERE ALSO INCLUDED IN ADDITIONAL MATERIALS AND MADE AVAILABLE TO THE NEWLY ELECTED DIRECTORS. AND SO I JUST NEED THE APPROVAL OF THOSE. >> IS THERE A MOTION AND SECOND? DISCUSSION? ALL IN FAVOR SAY AYE. >> AYE. OPPOSED. [8. Receive, consider and act upon election of Officers for The Woodlands Township Economic Development Zone Board of Directors;] MOTION PASSES. >> 8, RECEIVE CONSIDER AND ACT UPON ELECTION OF OFFICERS FOR THE WOODLANDS TOWNSHIP ECONOMIC ZONE BOARD OF DIRECTORS. YOU CAN REFER TO PAGE 4. I CALL UPON MS. DEMPSY AGAIN TO PRESENT. >> THANK YOU. SO THE BOARD HAS HISTORICALLY APPOINTED THE SAME OFFICERS FROM THE TOWNSHIP BOARD OF DIRECTORS TO SERVE AS THE OFFICERS FOR THE EDZ. I HAVE BALLOTS PREPARED IF YOU'RE INTERESTED IN VOTING FOR SOMETHING DIFFERENT BUT STAFF DOES RECOMMEND THAT YOU USE THE SAME OFFICERS. >> IS THERE A MOTION AND SECOND AND THEN WE CAN -- TO ELECT OFFICERS? >> I MOVE. >> SECOND. >> VERY FAST. >> DISCUSSION? >> ALL IN FAVOR, PLEASE RESPOND SAYING AYE. >> AYE. [9. Receive, consider and act upon approval of the minutes from the November 11, 2021 Special Meeting for the Board of Directors for The Woodlands Township Economic Development Zone;] >> OPPOSED? MOTION PASSES. THAT BRINGS US TO AGENDA ITEM NINE RECEIVE CONSIDER AND ACT UPON APPROVAL OF MINUTES FROM THE NOVEMBER 11, 2021, SPECIAL MEETING FOR THE BOARD OF DIRECTORS FOR THE WOODLANDS'S [00:05:01] TOWNSHIP ECONOMIC DEVELOPMENT ZONE. PAGE 5 THROUGH 11. AGAIN, MS. DEMPSY WILL PRESENT. >> THANK YOU. THOSE MINUTES WERE PREPARED THE ONES PRESENTED ARE IN THE 2021 BOARD MEETING WHICH IS THE LAST TIME THAT WE HAD THE REGULAR MEETING WITH THE EXCEPTION OF THE JOINT BOARD MEETING THAT TOOK PLACE SO THE ONLY MATTERS CONSIDERED ARE THE SAME THINGS ON THIS AGENDA WHICH IS THE APPOINTMENT OF THE NEWLY ELECTED DIRECTORS, THE SELECTION OF OFFICERS AND THE FINANCIAL REPORT. SO THOSE WERE PREPARED AND ARE PRESENTED FOR YOUR APPROVAL. >> IS THERE A MOTION AND SECOND? >> SO MOVED. >> SECOND. >> DISCUSSION? ALL IN FAVOR PLEASE RESPOND BY SAYING AYE. >> AYE. >> OPPOSED. [10. Receive, consider and act upon the financial report for The Woodlands Township Economic Development Zone;] MOTION PASSES. THATABLIES US TO AGENDA ITEM RECEIVE CONSIDER AND ACT UPON THE FINANCIAL REPORT FOR THE WOODLANDS TOWNSHIP ECONOMIC DEVELOPMENT ZONE. AND YOU CAN REFER TO PAGE 12 THROUGH 16. AND CALL UPON THE DIRECTOR OF FINANCE. THANK YOU. >>. >> I'LL BE QUICK. THESE ARE THE GENERAL PURPOSE FINANCIAL STATEMENTS ENDING SEPTEMBER 30TH, 2022. QUICK HISTORY ON THE ZONES, ZONE 2 AND 3 WERE CREATED IN 2002. ZONE TWO IS FOR MARKET STREET ENHANCEMENTS. THREE WAS FOR THE OUTDOOR EXPANSION AT THE MALL. ZONE 2 HAD A PROJECT COST OF 10.6 MILLION. ZONE 3 HAD A PROJECT COST OF 7.5 MILLION. BOTH ZONE AGREEMENTS WERE 30 YEAR TERMS AND THE REF KNEW GENERATED FROM THAT 1% SALES TAX IN THOSE AREAS WITHIN THE ZONE IS PROVIDED TO THE DEVELOPER OF THE PROJECT IN TERMS OF ANNUAL PAYMENTS. >> AS I MENTIONED EARLIER SALES TAX CONTINUES TO RUN A FAVORABLE VARIANCE IN 2022 ABOUT 16% OVER 2021. SO THE REVENUES COLLECTED FOR THE 1% ZONE AND THE TOTAL IS 25.1 MILLION. IT IS BROKEN OUT IN ZONE 2. ZONE 3 AND THEN THE REST OF THE 1% OF THE ZONE IS THE 23.1 MILLION USED TO FUND PRIMARILY THE FIRE DEPARTMENT. ON THIS PAGE IT'S JUST A STATEMENT OF EXPENDITURES. UNDER PROJECT ZONE TWO IT HAS MADE PRIORITY PAYMENTS OF 1.5 MILLION UNDER ZONE 3 ABOUT 401,000 AND THEN THE 23.1 MILLION THE REMAINING TRANSFERRED TO THE GENERAL FUND. SO OVERALL THE REVENUE ARE OVEREXPENDITURES ABOUT $74,000. AND AS A REMINDER THE SALES TAX IS THE EDZ ZONE'S MAIN SOURCE OF REF KNEW. A LITTLE INTEREST BUT NOT MUCH BUT WE'LL TAKE IT. AND ALSO AS OF SEPTEMBER 30TH, THE ECONOMIC DEVELOPMENT ZONES OWE THE TOWNSHIP ABOUT 4.9 MILLION WHICH IS CONTINUING TO DECREASE OVER THE YEARS AS THEY MAKE PAYMENTS SO EVERYTHING IS FINANCIALLY ON TRACK FOR THE ZONES. >> THANK YOU. BEFORE DISCUSSION IS THERE A MOTION AND SECOND TO ACCEPT THE FINANCIAL REPORT FOR THE NINE MONTHS ENDING SEPTEMBER 30TH, 2022? >> SO MOVED. >> SECOND? >> SECOND. >> ONE POINT I WOULD LIKE TO MAKE IS THAT BOTH THE FIRST FOUR ECONOMIC DEVELOPMENT ZONES WERE CREATED BY TOWN CENTER IMPROVEMENT DISTRICT SO THE ONE MOST RECENT THAT THE BOARD APPROVED AT OUR NOVEMBER MEETING, THE ECONOMIC DEVELOPMENT ZONE NUMBER FIVE WAS THE FIRST THAT WE'VE DONE AS A TOWNSHIP BOARD. SO THAT'S JUST INFORMATION. ANY OTHER COMMENTS? IF NOT, ALL IN FAVOR PLEASE RESPOND SAYING AYE. >> AYE. >> OPPOSED? MOTION PASSES. >>> CLOSED SESSION. IS THERE ANY YOU DON'T WANT TO MEET AGAIN? >> BOB AND RICHARD WANT TO. >> OKAY. THEN THAT BRINGS US TO AGENDA ITEM 13 CONSIDERATION OF ITEMS PLACED ON THE AGENDA FOR NEXT MONTH. [00:10:01] ANY? IF NOT, ARE THERE ANY MATTERS THAT NEED TO BE ANNOUNCED UNDER BOARD ANNOUNCEMENTS? AND THAT WILL THEN BRING US TO MY LAST PAGE. I HAVE ANOTHER -- OKAY. THAT BRINGS US TO AGENDA ITEM 15, ADJOURN. IS THERE A MOTION? >> SO MOVED. >> SECOND. >> ALL IN FAVOR. >> AYE. >> OPPOSED? * This transcript was compiled from uncorrected Closed Captioning.