The meeting was called to order on June 23, 2026. The board elected a new President and Vice President, approved minutes from the previous meeting, received a financial briefing, and unanimously passed two resolutions related to signatory authority. No executive session was held.
Good afternoon, and I'm calling the local development corporation to agenda. I mean to order. And um our first order of business today is uh we need to elect a president and uh vice chair, a vice president. So I have a motion for president, uh yes, council member back the president now. The current president uh was Alan Blaylock, and obviously he's gone now, so okay. So I move to make Deborah Peoples the President, yeah. Second. Okay, it's been moved and second. Are there any other nominations? Okay, all in favor signify by saying aye. Aye. Any posts? So thank you all very much. And now the floor is open for selection for a vice president. Sorry. I have a motion and a second, and uh it is obvious that the nominee has accepted because she can't say a word. All in favor signify by saying aye. Aye. Any opposed? We have a new vice president. Okay, and now I need a motion for the approval of our minutes from our October 28, 2025 meeting. Okay, a move. I have a move and a second. Uh, all those in favor signify by saying aye. Okay, thank you. And now we have uh a briefing that we now need to have. It's a financial report for the period of October 2025 through May of 2026. Yes, ma'am, council. Thank you. Good afternoon. Uh the report is in your packet, respectfully submitted. Uh right now, just so you know, even though it's showing cash at end of period as uh just over 5.5 million. We really have cash on hand of uh just under 400,000 to work with because 3.2 million of that is committed to a project, the Barry Stallcut project, and 1.9 million uh is on reserve, so our reserve funds. So we're looking at just under uh 400,000 as the cash balance. Are there any questions? All right, thank you. And so now we need to move to items for consideration, and our first item for consideration is a resolution to appoint our very own city of Fort Worth assistant city manager Dana Bergdoff as an authorized signatory agent of the corporation for the execution of documents and certain expenditures. And Ori, I took that from you. I'm sorry. Yeah, you're good. You're good. It's a housekeeping item. Uh Dana's now in charge of us, so yes, we didn't need to add her on there, our signatory authority. Okay, so we have a motion to second. Second. All of all in favor signify by saying aye. Okay. The next thing, or do you want to take this one? Okay. Same thing.