Minutes 7/8/24
MINUTES OF THE JOINT REGULAR MEETING OF THE TYE ECONOMIC DEVELOPMENT CORPORATION AND THE TYE INDUSTRIAL DEVELOPMENT CORPORATION, TYE, TEXAS
MONDAY, JULY 8th, 2024
6:00 PM
The Tye Economic Development Corporation and the Tye Industrial Development Corporation met for a Regular meeting on Monday, July 8th, 2024, at 6:00 PM, at 649 Scott Street, Tye, Texas 79563 in Suite 111.
- Call to Order: – George Deffenbaugh, President of the Board of the Tye Economic/Industrial Development Corporations called the meeting to order at 6:00 PM.
Members Present – George Deffenbaugh, Janie Ritter, Barbara Kotrlik, Linda Parsons, Dannelle Flippo
Members Absent – Amye Amerine, Ken Arnold
Others Present – City Secretary Maria Franco
- Invocation: – Given by Barbara Kotrlik.
- Visitor/Citizen Comments: – At this time, any person with business not scheduled on the agenda may speak to the Board of Directors. No formal action can be taken on these items at this meeting. Speaking time may not exceed three (3) minutes without the consent of the Board of Directors.
No comments.
- Discuss and Consider: Approval of the joint minutes for both TEDCO and TIDCO from June 10th, 2024.
Motion made by Barbara Kotrlik to approve the joint minutes for both TEDCO and TIDCO from June 10th, 2024. Linda Parsons seconded the motion. Motion carried.
- Discuss and Consider: Approval of the financials for both TEDCO and TIDCO for June 2024.
Motion made by Janie Ritter to approve the financials for both TEDCO and TIDCO for June 2024. Dannelle Flippo seconded the motion. Motion carried.
- Discussion Only: Proposed budgets for both TEDCO and TIDCO for the 2024-2025 fiscal year.
Staff opened the floor for discussion on the first draft of the proposed budgets for both TEDCO and TIDCO for the 2024-2025 fiscal year and Staff went through each page in detail. George Deffenbaugh made a suggestion to move some funds out of the checking accounts and roll them into CD’s. The Board collectively agreed with this and asked Staff to look into this. The Board then asked staff to make the following changes to the budget: Add the appropriate “other” income for Taylor Electric Cooperative and Lamar Billboard in Line Item 3064 – Other Income in TEDCO, Increase Line Item 6028 – Memorials to $1,000.00 for both TEDCO and TIDCO, Increase Line Item 6430 – Technology to $500.00 for both TEDCO and TIDCO. Staff informed the Board that those corrections will be made and the second draft of the 2024-2025 budget will be discussed at the meeting in August.
- Discussion Only: Executive Director’s report regarding current projects.
Staff announced that the demolition of 201 & 205 North Street was completed on 7/2/24, and we can now begin preparing for phase 2 of demolition of the downtown area.
Staff also answered some general questions from the Board regarding the facts, processes, and procedures of what happens next, now that there is not currently a quorum of City Council Members in place.
- Adjournment: Motion made by Janie Ritter to adjourn at 7:12 PM. Linda Parsons seconded the motion. Motion carried.
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George Deffenbaugh/President Cody Ellis/CEO
