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HomeMy WebLinkAboutMinutes_GEDCO_06.23.2011Minutes of the Meeting of the Georgetown Economic Development Corporation and the Governing Body of the City of Georgetown, Texas Thursday, June 23, 2011 The Georgetown Economic Development Corporation of the City of Georgetown, Texas, met on Thursday, June 23, 2011. Members Present: Pat Berryman, Rachael Jonrowe, Tommy Gonzalez, John Marler, John Kiltz Members Absent: Staff Present: Mark Thomas, Economic Development Director, Shirley Rinn, Executive Assistant to the City Manager, Lauri Brewer, Assistant Finance Director, Micki Rundell, Finance Manager Regular Meeting Called to Order at 4:02 p.m. by John Kiltz, Secretary Troy Hellman also attended the meeting. A. Discussion and possible action regarding the Project Progress Report, including Airborn, Texas Outdoor Power Company, Fnflite, McIntosh Holdings, LLC, Ringdale, and Radix BioSolutions.-- Mark Thomas, Economic Development Director and Paul E. Brandenburg, General Manager. Thomas provided an overview of the report. He told the Board that the compliance request has been invade to Texas Outdoor Power. Berryman arrived at 4:06pm. Board asked that all the future meetings be held at City Hall in the Main Floor Conference Room. Consideration and approval of the minutes from the Meeting held Monday, April 25, 2011--John Kiltz, Secretary Motion by Marler, second by Gonzalez to approve the minutes from the Regular Board Meeting held Monday, April 25, 2011. (Approved 4-0) (Berryman absent) C. Consideration of the May 31, 2011 Financial Reports--Micki Rundell, Finance Manager Rundell provided an overview of the reports. She told the Board that we are ahead of where we anticipated we would be because of positive sales tax revenues. She did let them know that the April sales tax was 2.49% higher than last year at the same time, but down from the prior month. She told the Board that those sales tax figures may have been attributed to some airplanes that were sold and we received sales tax for those sales. She indicated that all still looked okay in that the budget predicted a flat sales tax. She also told the Board that there is S3.6 million available in uncommitted funds. There was a brief discussion regarding the reports in general. Consideration and possible action regarding the Administrative Services Contract between the City of Georgetown and the Georgetown Economic Development Corporation--Micki Rundell, Finance Manager Brewer addressed the board and explained the purpose of the Administrative Services Agreement Contract with the City. There was a brief discussion regarding legal fees and how they area allocated, and the Board was told that the City Council will also approve this agreement. Motion by Gonzalez second by Kiltz (Approved 5-0) E. Consideration and possible action to approve the GEDCO 2011/12 Budget--Micki Rundell, Finance Manager Brewer went over the specific line item amounts proposed Budget to the Board. There was a clarification of the Citicorp water/wastewater revenue bonds. Motion by Marler, second by Gonzalez to approve the GEDCO 2011/12 Budget - (Approved 5-0) F. 1)iscussion and possible action regarding the approval of a Loan Agreement and Promissory Note between GEDCO and Lone Star Circle of Care in an amount not to exceed S387,000.00 for Qualified Expenditures for future site improvements at 205 East University Avenue, Georgetown, Texas --Mark Thou las, Economic Development Director Thomas provided an overview of the project and confiriiied that the proposed project is qualified project. He also told them about Lone Star Circle Care and its investment in the community. He provided therit with a history of Lone Star Circle of Care and told them that the Economic Development department did a retention visit and discovered the company was considering relocating its corporate offices to less expensive office space outside of Georgetown and they worked with them to provide an incentive to fill the gap to retain them in Georgetown. 1 his Agrees lent encoii ipasses retention and expansion. They have to retain 102 jobs, create 29 new jobs, and retain headquarters in Georgetown. There was additional discussion regarding the length of the term of the lease and whether the term of this lease could match the tern of the lease Lone Star Circle of Care has with the Georgetonian. Motion by Gonzalez, second by Marler to amend the proposed Performance Agreement to extend the term to match the terms of Lone Star Circle of Care's lease agreement with the Georgetonian plus an additional two (2) months to allow time for staff to confirm the accounting, reconciliation and compliance of the terms outlined in the Agreement. Approved (5-0) GEDCO Minutes/June 23, 2011 Page 2 of 4 It was also clarified that the effective the date of the Agreement will be the date that the Council approves it. Motion by Berryman, second by Gonzalez to approve a Loan Agreement and Promissory Note, as amended above between GEDCO and Lone Star Circle of Care in an amount not to exceed S387,000.00 for Qualified Expenditures for future site improvements at 205 East University Avenue, Georgetown, Texas with an effective date as of the date that the City Council approves the Agreement. (Approved 5-0) G. Discussion and possible action regarding parking and the Downtown Masterplan-John Kiltz, Secretary and John Mader, Boardmember. Kiltz addressed the board regarding current parking situation downtown and whether or not 4A or 4B would be able to do anything and contribute in any way to help provide a more pedestrian friendly environment downtown. There was discussion regarding the Downtown Masterplan and how parking was addressed in that plan. . There was general discussion regarding the need for a Parking Garage downtown, as well as the need to get buy -in from the owners on the square to support initiatives that would make the downtown square more pedestrian friendly There was further discussion regarding ways to design the parking downtown to accommodate a more pedestrian friendly environment, including making the streets around the square one way and still have parking on one side. There was additional discussion regarding the importance of the buy -in of the stakeholders, including the business owners and Williamson County. There was additional discussion regarding the possibility of doing a parking garage over the City Council Chambers with small retail in the front downtown height restrictions, as well as whether it would be beneficial to fund a study to find out where parking garages might could go downtown. It was also mentioned that any parking facility that would be built would need to go through HARC and the City Council and would also need to be designed in the same historical motif as other buildings in the downtown. The Board discussed further the legality of utilizing 4A funds for this type of project and the need for elected officials to be cautious with the use of 4A funding and the type of projects it expends its Irtoney on, as well as the need to focus on job creation when expending funds. The Board went on to discuss the ramifications of losing parking spaces by making the square more pedestrian friendly and replacing those spaces with a parking garage. All agreed that perception is reality. i.e. if the parking spots are taken, then the perception is that things are really hopping downtown. Thomas told the Board that parking is an issue that has been discussed and that there is ongoing dialogue between City staff, the County, and downtown businesses. Recessed to Executive Session at 4:53 p.m. EXECUTIVE SESSION The Georgetown Economic Development Corporation will meet in closed executive session as allowed by Texas Open Meetings Act (Texas Government Code Chapter 551), as follows: N Section 551.072. DELIBERATION REGARDING REAL PROPERTY Discussion and possible action to deliberate the purchase, exchange, lease or value of real property for purposes authorized by the Development Corporation Act which discussion in open session would have a detrimental effect on negotiations with third persons. GEDCO Minutes/June 23, 2011 Page 3 of 4 Section 551.087. DELIBERATION REGARDING ECONOMIC DEVELOPMENT NEGOTIATIONS. Deliberation regarding commercial or financial information that the corporation has received from a business prospect that the Georgetown Economic Development Corporation seeks to have locate, stay, or expand in or near the territory of the City of Georgetown and with which the Corporation is conducting economic development negotiations; and/or deliberation regarding the offer of a financial or other incentive to a business prospect that the Corporation seeks to have locate, stay, or expand in or near the territory of the City of Georgetown. - Project Grape - Project GW Section 551.071. CONSULTATION WITH ATTORNEY Consultation with attorney regarding legal issues related to agenda items and other niatters in which the duty of the attorney to the Georgetown Economic Development Corporation under the Texas Disciplinary Rules of Professional Conduct of the State Bar of Texas. Reconvened into regular session at 5:36 K. Action out of Executive Session Motion by Berryman, second by Marler that GEDCO approve and execute the economic development agreement for Project Grape with the terms discussed in executive session, including certain economic development incentives and the lease/purchase of h approximately 3, 720 square feet of retail space and patio space generally located at 7 Street and Main Street, Georgetown, Texas subject to the approval as a downtown TIRZ project and also subject to City Council approval of the sale of the said property from the City to GEDCO. (Approved 5-0) Adjourned at 5:40 p.m. None of the members of the Board left the „meeting room. Reconvened into Regular Session at 5:45 p.nt. Recessed into Executive 5:45 p.m. Reconvened into Regular Session at 5:50 p.ui. Motion by Mader, second by Jonrowe to Adjourn Adjourned 5:50 p.m. Attest: John Kiltz, Corporate Secretary Pat Berryman, President GEDCO Minutes/June 23, 2011 Page 4 of 4