President Schmelzer called the meeting to order at 3:07 p.m.

MOTION BY Boardmember Robert Nobis, SECONDED BY Vice President Cindy Braun to approve the minutes. The motion carried as follows:

AYE:

Secretary/Treasurer John Cox, President Susan Schmelzer, Vice President Cindy Braun, Boardmember Robert Nobis

Passed - Unanimously

MOTION BY Secretary/Treasurer John Cox, SECONDED BY Boardmember Robert Nobis to elect Susan Schmelzer as President, Cindy Braun as Vice President, and John Cox as Secretary/Treasurer. The motion carried as follows:

AYE:

Secretary/Treasurer John Cox, President Susan Schmelzer, Vice President Cindy Braun, Boardmember Robert Nobis

Passed - Unanimously

CFO, Jared Askelson, reported that there were no updates as the Industrial Development Authority has no outstanding or planned debt.

Kelly Royle, Vice President of Jones, Lang, LaSalle (JLL), provided an update on the Industrial Development overview of the Phoenix Metro and Goodyear areas.  Ms. Royle indicated that Goodyear's location and market are still strong even though there is more supply than demand currently and Goodyear's location just off of I-10 makes it very attractive for tenants, providing them with amenities and a strong skilled labor workforce.  Ms. Royle also indicated that 20-30% of their inquiries are from companies from California looking to relocate to Arizona and Goodyear provides great incentives for the Foreign Trade Zone.  The development continues to be strong along I-10 and north up Route 303.  Ms. Royle indicated that it currently takes about nine to twelve months to secure tenants as they are taking longer to decide because they currently have more choices as landlords are starting to offer more improvements, moving costs, etc. to incentivize companies.  The board expressed their gratitude for the wonderful information provided and were grateful to hear that Goodyear's market still continues to be strong.