Midland Development Corporation Board of Directors met April 7.
Here is the agenda provided by the board:
At such meeting, the Board of Directors may discuss, consider, and take action on any of the following items:
1. Call meeting to order.
2. Motion approving the minutes of the March 3, 2025, meeting of the Midland Development Corporation.
3. Receive and discuss the Independent Auditors’ Report and the Basic Financial Statements for the Fiscal Year 2023-2024 presented by Christy Weakland, Director of Finance for the City of Midland.
4. Motion ratifying and approving that certain letter dated March 25, 2025, from the Midland Development Corporation Chairman addressed to the City Manager of the City of Midland requesting assistance in obtaining services necessary for the administration of the Midland Development Corporation in accordance with Article II, Section 6 of the Amended and Restated Bylaws of the Midland Development Corporation.
5. Motion authorizing the Midland Development Corporation Chairman to negotiate and execute an easement and right-of-way agreement with Oncor Electric Delivery Company, LLC, regarding certain real property described as Section 33, Block 40, T-1-S, T&P RR Co. Survey, Midland County, Texas.
6. Resolution authorizing the execution of an economic development agreement with AST & Science, LLC.
7. Resolution authorizing the execution of a commercial lease agreement with AST & Science, LLC, regarding a portion of that certain facility located on Lot 1A, Block 13, Industrial Park Regional Air Terminal, Unit 12, Midland, Midland County, Texas, at the Midland International Air & Space Port.
8. Presentation on the March 2025 economic development activity report from the Midland Development Corporation Executive Director and staff.
9. Pursuant to Texas Government Code §551.101, the Board of Directors will hold an Executive Session, which is closed to the public to discuss the following matters as permitted under the following Texas Government Code Sections:
a. Section 551.071, Consultation with Attorney
i. Discuss a matter in which the duty of the attorney to the Midland Development Corporation under the Texas Disciplinary Rules of Professional Conduct of the State Bar of Texas clearly conflicts with Chapter 551 of the Texas Government Code.
b. Section 551.072, Deliberation Regarding Real Property
i. Discuss the purchase, exchange, lease, or value of real property.
c. Section 551.074, Personnel Matters
i. Discuss the employment, evaluation, and duties of the Executive Director.
d. Section 551.087, Deliberation Regarding Economic Development Negotiations
i. Discuss business prospects that the Midland Development Corporation seeks to have, locate, stay, or expand in or near the City of Midland, Texas, and discus
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