1. January 16, 2016

2.  Old Business: To extend the expired/expiring terms of current Board members until July 2016  New Business: To provide information about the Corporate & LLC Codes to be voted on in a future meeting  New Business: To provide an update on current Economic Development projects

4.  Why? ◦ The Bylaws of the Economic Development Board need to be reviewed and updated to coincide with the Corporate & LLC Codes. ◦ The Board would like to review and propose those changes in July 2016. ◦ New Board members will be elected in the July 2016 General Council meeting.

6.  What is this? ◦ Over the past 6 months the Economic Development Board has been working on Corporate Codes and LLC Codes. ◦ These codes serve as the legal framework for the tribe to be able to engage in business activities.

7.  Why is this needed? ◦ We want to make sure that our businesses have a sound structure. ◦ The codes include requirements for Articles of Organization, filing with the Secretary’s office, and regular reporting. ◦ This is comparable to the Secretary of State’s office.

8.  Next Steps ◦ The codes have been placed online for review. ◦ Questions will be answered at the April 23 rd Shareholder/Informational meeting. ◦ A vote will happen at the July 2016 General Council meeting.

10.  Predevelopment in progress ◦ We have worked together to address the predevelopment activities needed for this project ◦ EDA grant awarded  Site mapping at Green Earth  Due diligence to access the economic viability of the project  Legal structure work ◦ Staff continues to meet with potential investors & partners

11.  Reduction of expenses ◦ We were able to renegotiate our monthly rent and now have a reduction of $10,000 per month ◦ Purchased equipment using less than $50,000 from Economic Development Trust funds saving $10,000 per month ◦ Reduction to 3 days per week has saved approximately $1000 per month in utilities and $12,000 per month in payroll ◦ Total reductions: $33,000 per month

12.  Positive Business Growth ◦ We have seen steady weekly sales numbers. ◦ January-April is most profitable time of year ◦ January Super Saturday weekend supported the projected increase is the 1 st Quarter of 2016 ◦ February Super Saturday giveaways total over $100,000, projections showing approximately 1200 players with many confirmed from out of state

13.  Project no longer moving forward ◦ We received confirmation from our partners that due to other projects they are working on and changes in the market the project is no longer moving forward.

14.  Exciting new opportunity that arose due to studio project ◦ We were able to purchase an existing successful production company from South Charlotte. ◦ We had to act fast in order to purchase the business. ◦ The business operations include filming of small productions and post production contracts. ◦ Purchased business assets for $65,000. ◦ Kept previous owner on as Manager for 5 years. ◦ Business office will be in Fort Mill until the studio opens

15.  The numbers ◦ Board invested $234,000 to start business. ◦ Year 1 Sales Projections are $565,000 based on current projects and expected growth. ◦ Year 2 Sales Projections are $710,000 per year and Year 3 Projections are $798,000 assuming 8a status and government contracts. ◦ One new Sales position will be posted soon and we are hoping to hire a tribal member.

16.  Tentatively scheduled for April 23 rd at 10 am ◦ We will go into more detail about each business at this meeting. It will be the first shareholders meeting of the Corporate Nation.