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2024 04 25 MDD Minutes MINUTES OF THE REGULAR MEETING OF THE BOARD OF DIRECTORS OF THE BAYTOWN MUNICIPAL DEVELOPMENT DISTRICT April 25, 2024 The Board of Directors of the Baytown Municipal Development District (MDD) met in a Regular Meeting on Thursday, April 25, 2024, at 4:30 P.M., in the Council Chamber of the Baytown City Hall, 2401 Market Street, Baytown, Texas with the following in attendance: Bandon Capetillo President Laura Alvarado Vice President Kenrick Griffith Director James Franco Director Jacob Powell Director Mike Lester Director Jason Reynolds General Manager Scott Lemond General Counsel Angela Jackson Assistant Secretary President Brandon Capetillo convened the April 25, 2024, MDD Board Regular Meeting with a quorum present at 4:34 P.M., all members were present with the exception of Director Sarah Graham. 1. CITIZEN COMMENTS President Brandon Capetillo announced no citizens had signed up to speak on the Citizen Comments item. 2. REPORTS a. Receive the Baytown Municipal Development District's Quarterly Financial and Investment Reports for the Quarter Ending March 31,2024. Finance Director Teresa McKenzie summarized the District Quarterly Financial Report ending March 31, 2024. (Exhibit A) President Brandon Capetillo acknowledged report was received. 3. CONSENT a. Consider a resolution authorizing an interlocal agreement with Texas Municipal League Intergovernmental Risk Pool (TMLIRP) for the prorated payment of$512,528.00 for Fiscal Year 2023-2024. General Counsel Scott Lemond summarized Item 3.a. related to the interlocal agreement with Texas Municipal League Intergovernmental Risk Pool. MDD Board Regular Meeting Minutes April 25,2024 Page 2 of 3 General Manager Jason Reynolds commented, "When we started this process with the MDD Board when the hotel opened, there was a discussion around a 1.8-million-dollar insurance bill. The Risk Management Team has worked over the past year to find a new policy and that policy was then carried over to TML in which we were not able to do before. This has reduced the 1.8- million-dollar insurance bill down to 1.3 million dollars. In addition, the cost avoidance for this year is that they were able to do a prorated fee for the time being. Whereas, last year we had to pay the 1.8 million up front. There is a cost avoidance not having to pay the full 1.3 million premium right now. That will kickoff with our regular budget cycle in October going forward." A motion was made by Vice President Laura Alvarado and seconded by Director Mike Lester to approve Resolution No. 475,related to Item 3.a. The vote was as follows: Ayes: President Brandon Capetillo, Vice President Laura Alvarado, Director Kenrick Griffith, Director James Franco, Director Jacob Powell, Director Mike Lester Nays: None Other: Director Sarah Graham (Absent) Approved RESOLUTION NO. 475 A RESOLUTION OF THE BOARD OF DIRECTORS OF THE BAYTOWN MUNICIPAL DEVELOPMENT DISTRICT AUTHORIZING A LIABILITY/PROPERTY INTERLOCAL AGREEMENT WITH THE TEXAS MUNICIPAL LEAGUE INTERGOVERNMENTAL RISK POOL FOR THE PURPOSE OF JOINING THE TEXAS MUNICIPAL LEAGUE JOINT SELF- INSURANCE FUND; AUTHORIZING PAYMENT BY THE CITY OF BAYTOWN MUNICIPAL DEVELOPMENT DISTRICT IN AN AMOUNT NOT TO EXCEED FIVE HUNDRED TWELVE THOUSAND FIVE HUNDRED TWENTY-EIGHT AND NO/100 DOLLARS ($512,528.00) FOR PREMIUMS, REIMBURSABLE LOSSES, ADMINISTRATIVE FEES AND DEDUCTIBLES; MAKING OTHER PROVISIONS RELATED THERETO; AND PROVIDING FOR THE EFFECTIVE DATE THEREOF. 4. MANAGER'S REPORT a. The next Baytown Municipal Development District meeting will be scheduled when needed, in the Council Chamber located at City Hall, 2401 Market Street, Baytown, Texas, 77520. General Manager Jason Reynolds informed the Board there were no reports to be made. 5. EXECUTIVE SESSION MDD Board Regular Meeting Minutes April 25,2024 Page 3 of 3 a. Recess into and conduct an executive session pursuant to Texas Government Code Sections 551.071 and 551.087 to seek the advice of the City's attorneys regarding economic development negotiations. Director Sarah Graham entered the Municipal Development District Regular Meeting at 4:39 P.M. At 4:39 P.M., President Brandon Capetillo recessed into and conducted an Executive Session pursuant to Section(s) 551.071 and 551.087 of the Texas Government Code to seek the advice of the City's attorneys and/or to discuss economic development negotiations. At 5:25 P.M., President Brandon Capetillo reconvened the Open Meeting of the MDD Board Regular Meeting and announced that in accordance with Section 551.102 of the Texas Government Code, no action was taken in the Executive Session. 6. ADJOURN With there being no further business to discuss, President Brandon Capetillo adjourned the April 25, 2024, MDD Board Regular Meeting at 5:25 P.M. �=�L r Ange0la Ja son, Assistant Secrets +. �""/. `.,.�,a` `q City of Baytown J'::.`' s / '� Second Quarte Financial Report Q2 2024 Baytown Municipal Development District (MDD) - Period Ending March 31, 2024 MUNICIPAL DEVELOPMENT DISTRICT(MDD) Period Ending March 31,2024 CY to PY Budget CY Actual Balance % PY Actual Change$ Revenues Sales Tax $ 8,456,660 $ 2,690,025 $ 5,766,635 32% $ 2,740,996 $ (50,971) Miscellaneous 367,644 246,487 121,157 67% 80,980 165,507 © MDD Budget Received Total Revenues 8,824,304 2,936,512 5,887,792 33% 2,821,976 114,536 $8,824,304/$2,936,512 33% Expenditures Administration 464,527 150,000 314,527 32% 216,059 (66,059) Economic Development 4,232,400 1,375,723 2,856,677 33% 2,049,366 (673,643) Parks 726,080 - 726,080 0% 262,270 (262,270) MDD Budget Spent Streets - - - 0% - - $8,371,852/$2,484,603 Sewer 2,118,718 111,481 2,007,237 5% 1,001,844 (890,363) 30% Debt Service &Transfers 830,127 847,399 (17,272) 102% 1,161,027 (313,628) Total Expenditures 8,371,852 2,484,603 5,887,249 30% 4,690,566 (2,205,963) Net Change 74,187 451,909 (1,868,589) Beg. Fund Balance 452,452 1,149,761 Personnel, End. Fund Balance $ 526,639 $ 1,601,670 $132.0 K CIP, $' 11.5 K Sales Tax Receipts(Cash Basis) Services, 900 _ -- $543.0 K 800 __ ra n sfe rs, °z 700 — —_ —_ — $997.4 K 600 a 500 -- -- -- - - 400 - I Debt Sery e, OCT NOV DEC JAN FEB MAR APR MAY JUN JUL AUG SEP Investments(Book Value) $701 K FY23 683.9 736.5 663.2 695.3 755.9 639.6 671.7 855.3 633.3 711.7 886.7 685.5 Texpool 1FY24 692.0 609.6 664.9 699.6 811.4 526.5 Balance $1,246,274 FY23 ■FY24 Earnings $44,515 Unaudited financials