Dec 15, 2025 Economic Development Corp. (Type A)

MOTION PASSES BY A UNANIMOUS VOTE. NEXT UP IS ITEM THREE B TO CONSIDER AND TAKE POSSIBLE ACTION ON A RESOLUTION AUTHORIZING A LEASE AMENDMENT BETWEEN THE

[00:00:10]

I'M NOT GOING TO READ ALL THAT. APPROXIMATELY SIX ACRES AND 31,650FT².

LOCATED AT 921 SOUTH BURLESON BOULEVARD, BURLESON.

THIS WILL BE PRESENTED BY ALEX PHILLIPS, DIRECTOR OF ECONOMIC DEVELOPMENT.

GOOD EVENING, MR. PRESIDENT AND BOARD MEMBERS.

TONIGHT I PRESENT TO YOU AN AMENDMENT TO A CURRENT LEASE THAT WE HAVE FOR 921 SOUTH BURLESON BOULEVARD THAT THE ECONOMIC DEVELOPMENT CORPORATION OWNS.

[ *A portion of this meeting is without audio*]

[3.A Consider and take possible action on the minutes from the November 3, 2025 Economic Development Corporation (Type A) meeting. (Staff Contact: Monica Solko, Deputy City Secretary)]

[3.B Consider and take possible action on a resolution authorizing a lease amendment between the Burleson 4A Economic Development Corporation and FWAVE, LLC, (4A121222FWAVE2ndAmendLease) of approximately 6 acres and 31,650 square feet located at 921 S. Burleson Boulevard, Burleson, Texas. (Staff Contact: Alex Philips, Director of Economic Development)]

IT IS 31,650FT², APPROXIMATELY SIX ACRES. THE ORIGINAL LEASE WAS APPROVED ON NOVEMBER 16TH, 2015 FOR A TERM OF FIVE YEARS AT A RATE OF 550 A FOOT.

THE LEASE WAS EXTENDED IN JUNE OF 19 FOR AN ADDITIONAL THREE YEARS, AT THE SAME RATE OF THE 550 PER FOOT THAT LEADS TO AMENDMENT WAS REQUESTED, AS IF WE NEEDED MORE TIME TO IDENTIFY A FUTURE SITE FOR THEIR EXPANSION AND COVID BASICALLY PUT A PAUSE ON THE SITE SEARCH AT THE TIME THE LEASE WAS AMENDED AGAIN IN 2022 FOR AN ADDITIONAL TWO YEARS AT 750 A FOOT WITH AN OPTION FOR A THIRD YEAR AT $9 A FOOT THAT EXPIRES THIS DECEMBER. SO THE AMENDMENT DETAILS FIVE IS FINISHING UP AN AGREEMENT WITH THE LARGE RECIPIENT OF THEIR PRODUCT THAT WILL REQUIRE NEW BUILDING WITH SIX PRODUCTION LINES.

THE CURRENT BUILDING ONLY HAS ONE PRODUCTION LINE IN IT.

CURRENTLY. TODAY, F-WAVE HAS IDENTIFIED PROPERTY WITHIN THE CITY OF BURLESON FOR EXPANSION OF THEIR BUSINESS.

THE TERM WOULD BE FOR AN ADDITIONAL TWO YEARS, WITH AN OPTION FOR A THIRD YEAR.

THE RENTAL RATE FOR THE TWO YEAR PERIOD WOULD BE AT THE RATE IT CURRENTLY IS NOW, FOR $9 A FOOT.

BUT THAT THIRD YEAR, IT WOULD JUMP UP TO $11 A FOOT IF THEY NEEDED.

THAT THIRD YEAR STAFF HAS BEEN IN CONSTANT CONTACT WITH THE OWNER AND IS CONFIDENT THAT F-WAVE IS PROGRESSING SEEM AGGRESSIVELY TOWARDS AN EXPANSION.

SO I'M HERE FOR ANY QUESTIONS AND COMMENTS. STAFF RECOMMENDS APPROVAL OF THE LEASE AMENDMENT.

ALL RIGHT. QUESTIONS, ANYONE? I THINK IT'S RARE THAT WE PURCHASE A PIECE OF PROPERTY WITH THE HOPE OF INVESTING AND GETTING SOMETHING FROM IT DOWN THE LINE, AND ACTUALLY HAVE IT RENTED FOR THE WHOLE PERIOD OF TIME. SO WE'VE DONE PRETTY WELL HERE. AND I, I'M MORE THAN APPRECIATIVE OF THE IMPACT THAT HAS HAD ON OUR ECONOMY HERE.

AND I KNOW THERE'S GOING TO BE GREAT THINGS IN THEIR FUTURE. I'VE HAD CONFIDENCE IN THIS COMPANY SINCE THEY CAME TO TOWN. AND I THINK THEY'RE GOING TO GO GOING TO GO FAR AND FAR AND AWAY BETTER PLACES AND DO BETTER. SO I HAVE NO OBJECTION TO THIS WHATSOEVER.

HAPPY TO HELP ACCOMMODATE THEM. IF ANYONE HAS ANYTHING ELSE TO COMMENT.

OKAY. I'LL TAKE A MOTION. I MAKE A MOTION TO APPROVE THE RESOLUTION.

SECOND. I HAVE A MOTION BY ALEXA AND A SECOND BY PHIL TO APPROVE THE AGREEMENT.

ALL THOSE IN FAVOR? AND I SEE ALL THE HANDS GO UP.

SO THAT HAS PASSED BY UNANIMOUS VOTE. THANK YOU.

THANK YOU ONCE AGAIN. ALL RIGHT. NEXT UP IS ITEM THREE C TO CONSIDER AND TAKE POSSIBLE ACTION ON A RESOLUTION AMENDING THE CORPORATION'S OPERATING BUDGET FOR FISCAL YEAR 2025-26, FOR THE PURPOSE OF INCREASING APPROPRIATIONS TO ACCOMMODATE THE ROLLING FORWARD OF ENCUMBRANCES FROM THE PRIOR YEAR AND THE STAGGERING SUM OF $15,632. THIS WILL BE PRESENTED BY.

THANK YOU SIR. CHAIR, COMMITTEE MEMBERS THIS EVENING TO DISCUSS THIS AFOREMENTIONED BUDGET AMENDMENT.

[3.C Consider and take possible action on a resolution amending the corporation’s operating budget (Resolution4A081825AnnualBudget) for Fiscal year 2025-2026 for the purpose of increasing appropriations to accommodate the rolling forward of encumbrances from the prior year in the amount of $15,632. (Staff Contact: Kevin Hennessey, Interim Director of Finance) ]

RELATED TO THAT BLACKROCK HOODED LEFT TURN LANE IN THE AMOUNT OF $15,632.

AND SO THIS EVENING, WE'RE REQUESTING AN APPROVAL FOR THIS MID-YEAR BUDGET AMENDMENT, INCREASING THE APPROPRIATIONS IN THAT AMOUNT IN THE FOR A FUND.

AND I'LL STAND FOR ANY QUESTIONS. MY QUESTIONS ANYONE I'LL TAKE A MOTION.

I'LL MOVE TO APPROVE. I'LL SECOND. OKAY. I HAVE A MOTION BY ADAM TO APPROVE AND A SECOND BY ALEXA.

ALL THOSE IN FAVOR? AND I SEE THAT ITEM PASSES BY UNANIMOUS VOTE.

[00:05:06]

HAVE WE ANY? I SEE NONE. HAVE WE A NEED FOR EXECUTIVE SESSION? WE DO NOT. THEREFORE, WE WILL ADJOURN THE MEETING AT 4:37.

THANK YOU ALL.

* This transcript was compiled from uncorrected Closed Captioning.