HomeMy WebLinkAboutMinutes_GEDCO_09.17.2007Minutes of the Meeting of
the Georgetown Fconoinic Development Corporation
City of Georgetown, Texas
Monday, September 17, 2007
The Geor;etown Economic Development Corporation of the City of Georgetown, Texas, met on
Monday , September 17, 2007.
Members Present:
Rick Smith, Ben Oliver, Pat Berryman, Farley Snell
Members Absent:
Ron Shelly
Staff Present:
Paul Brandenburg, General Manager, Mick' Rtmdell, Finance Manager, Mark Thomas, Economic
Development Director, Shirley Rine, Executive Assistant to the City Manager, George Gomez,
Economic Development Program Specialist
Regular Meeting
Meeting was called to order by Ben Oliver, Vice President at 2:OOpm
REGULAR SESSION:
Board may, at any time, recess the Regular Session to convene in Executive Session at the request of the
Chair, a Board Member, the City Manager, Assistant City Manager, City Council Member, or legal
counsel for any purpose authorized by the Open Meetings Act, Texas Government Code Chapter 551,
and are subject to action in the Regular Session that follows.
A Discussion and possible action regarding the Project Progress Report. -- Mark Thomas,
Economic Development Director and Paul L. Brandenburg, General Manager
Thomas gave the Board an overview of all of the active projects that the GEDCO Board
approved, including Citicorp, Vista Solutions, Airborn, TLCC, Oithopuetics, and other
biotech companies. He gave the Board an update on the closure of the Loading Dock.
He told the Board that the business is being purchased by another group, but that the
Boyington's are still going to own the building. He told these that they are going to
work with the new owners to see if they aie interested in entering into the same type of
Performance Agreement. The Board indicated that it would like staff to try the best it
could to work out something with. the Boyington's and the new owners.
B. Consideration and approval of the minutes from the Regular Board Meeting held
Monday, August 27, 2007--Farley Snell, Secretary
Motion by Snell, second by Smith to approve the minutes from the Regular Board
Meeting held Monday, August 27, 2007 Approved 4 0 (ShellyAbsent)
Consideration of the August 31, 2007 Financial. Report--Micki Rundell, Finance Manager
Rundell presented the Financial Report to the Board and explained the details in the
report, which included monthly sales tax revenues, monthly expenditures, a budgetar
report, and other relevant financial information, including bond issuance anc debt.
Short discussion regarding format of budget documentation provided by Rundell
D. Discussion and possible action to approve an Amended Resolution and Performance
Agreement regarding Orthopeutics, L.Y. — Paul Brandenburg, General Manager and
Mark Thomas, Director of Economic Development
7
Brandenburg explained the changes that were made to the Performance Agreement
based on instructions from the GEDCO Board from the last Board Meeting. He told the
Board that Orthopeutics was in agreement with the terms.
Motion by Snell, second by Berryman to approve an Amended Resolution and
Performance Agreement regarding Orthopeutics, L.P. Approved (4-0) (Shelly - Absent)
Discussion and possible action to approve a Resolution and Performance Agreement
regarding Airborn, Inc. — Paul Brandenburg, General Manager and Mark Thomas,
1irector of Economic Development
Thomas gave the Board an overview of the terms of the Performance Agreement. The
Board clarified that Airborn would have to meet its capital invesnnent requirements
prior to grant monies being expended. There was additional discussion regarding
timing of the project.
Motion by Snell, second by Oliver to approve a Resolution and Performance
Agreement regarding Airborn, Inc., if the terms of the Agreement are acceptable to
Airborn, Inc. Approved (4-0) (Shelly Absent)
EXECUTIVE SESSION:
The Georgetown Economic Development Corporation will meet in closec executive session as
allowed by Texas Open Meetings Act (Texas Government Code Chapter 551), as follows:
F. Section 551.072. DELIBERATION REGARDING REAL PROPERTY
Discussion and possible action to deliberate the purchase, exchange, Vase or value of real property for purposes
authorized by Section 4A of Economic Development Act of 1979 (as amended) which discussion in open session
would hav-e a detrimental effect on negotiations with third persons.
G. Section 551.087. DELIBERATION REGARDING ECONOMIC DEVELOPMENT NEGOTIATIONS.
Deliberation regarding commercial or financial information that the col poration has received from a business
prospect that the Georgetown Economic Development Corpoi ation sees 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 toga' ding 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.
H. Section 551.071. CONSULTATION WITH ATTORNEY
Consultation with attorney regarding legal issues related to agenda items and other matters in which the duty of
the attorney to the Georgetown Economic Development Corporation under the I exas Disciplinary Rules of
Professional Conduct of the State Bar of Texas.
GEDCO Minutes/9-17-07
Paae 2 of 3
REGULAR SESSION.:
The Board will reconvene in regular open session to take any action necessary related to any of
the above -posted executive session items.
I. Action from hxecutive Session.
There were no items to discuss in Executive Session.
Meeting was adjourned at 2:30 p.ni.
Attest:
Farley Snell, Corporate Secretary
Ben Oliver,Vice-President
GEDCO Minutes/9-17-07
Paae 3 of 3