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HomeMy WebLinkAboutMinutes_GEDCO_04.15.2013Minutes of the Meeting of the Georgetown Economic Development Corporation and the Governing Body of the City of Georgetown, Texas Monday, April IS, 2013 The Georgetown Economic Development Corporation of the City of Georgetown, Texas, met on Monday, April 15, 2013. Members Present: Rachael Jonrowe, Tommy Gonzalez, Bill Sattler, Charles Carter, Hugh Brown, Kevin Kelly, Walt Barkalow Members Absent: Staff Present: Paul E. Brandenburg, General Manager, Mark Thomas, Economic Development Director, Shirley Rinn, Executive Assistant, Laurie Brewer, Assistant City Manager, Micki Rundell, Finance Manager, Bridget Chapman, Acting City Attorney, Jeff Moore, Corporate Legal Counsel Minutes Regular Meeting Gonzalez opened the meeting at 4.30 p.m.. Introduction of Board members A. Discussion and possible action regarding the Project Progress Report, including Airborn, Enflite, Radix BioSolutions, Lone Star Circle of Care, Grape Creek Winery, Georgetown Winery, and Difusion Technologies, Inc. -- Mark Thomas, Economic Development Director and Paul E. Brandenburg, General -Manager. Thomas indicated that nothing has changed and all companies are working toward their compliance. There will be one company that will be discussed in Executive Session. There was also a brief discussion about grand opening for Grape Creek. B Consideration and approval of the minutes from the Meeting held ]Monday, March 18, 2013 -- Hugh Brown, Secretary Motion by Jonrowe, Second by Sattler to approve the minutes from the Meeting held Monday, March 18, 2013. (Approved 7 -0) C. Consideration of the March 31, 2013 Financial Reports- -Micki Rundell, Finance Manager Rundell provided a detailed overview of the report to the Board which included collections of sales tax and expenditures. She told the Board that sales tax collections are 10.37% higher what was budgeted for this fiscal year. There was further discussion regarding the marketing expenditures referenced in the report. She also discussed the sales tax trend from 2008, which was most likely attributed to Citicorp. She also talked to the Board as to why March is historically a good sales tax month. It was also mentioned that large sales tax producers are from building materials, as well as Amazon. D. Presentation, discussion and possible action for the Radiation Detection Company project- -Marls Thomas, Economic Development Director Mark provided an overview of the request made by RDC discussed at the last meeting. He introduced the principals of the company to provide an overview of the history of RDC, the type of company they are and the services they provide. They have 57 well paid ($65,000) employees of which about half are moving with the company. Said that their client base is international and they would be representing Georgetown not just nationally, but all over the world. There was discussion about future growth of company. They indicated that there realistically may be 8 -10 additional new employees. He also said that RDC believes in giving back to their communities and have annually provided around $300,000 to local non - profits in their current community. He also told the Board that there are 10 -12 supervisory /management and the balance are on line. Management trains their employees. This is a very highly regulated industry. They feel that the labor pool in this community is adequate to meet their needs. E. Presentation, discussion and possible action on the Summit at the Rivery Hotel and Conference Center project -Marie Thomas, Economic Development Director Jeff Novak provided a very detailed presentation to the Board regarding the history of the Summit at the Rivery project. He provided an overview as to why they should come to Texas, Central Texas, and especially Georgetown. He provided additional overview as to how the current proposal for the Conference Center came to be and how we working toward the financing of the project. He provided projections for the job creation from this project. He also provided an overview of the economic impact of this project. Andy Heard provided an overview and history of Hines' operations that include domestic and international projects that include residential, hotel, mixed use, office, land, etc. lie also told the Board that Hines also does investment management. He then provided an overview about specific plans for the proposed Summit at the Rivery Hotel cot Conference Center. Novak again reiterated how special Georgetown is, but a lot of people don't realize it until they come to experience it, which is what happened with Hines. He indicated that there is a need for the regional conference center and for the future retail, all of which will drive economic development in Georgetown because of the number of people who will come to Georgetown and experience what we have to offer. Recessed into Executive Session at 5:45 p.m. GEDCQ Minutes /Apri3 15, 2013 Page 2 of 3 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: F. 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. G. 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 De relopment 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. - Rivery Conference Center - Project RDC - Enflite 11. 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 Texas Disciplinary Rules of Professional Conduct of the State Bar of Texas. Reconvened 6:45 p.m. I_ Action out of Executive Session. Motion by Sattler, Second by Brown to direct staff to let the City Council know that the GEDCO (4A) Board has reviewed numerous opportunities to participate in the Rivery at the Summit Hotel and Conference Center Project and recommends that staff report their agreement with regard to those opportunities to participate back to the City Council at its next meeting for its review and possible action. (Approved 7 -0) Motion by ]onrowe, Second by Sattler to direct staff to continue negotiations with Radiation Detection Company as discussed in Executive Session. (Approved 7 -0) Adjourned at 6 :47 p.m. Attest: Hugh Brown, Corporate Secretary GEDCO Minutes /April 15, 2GI3 Page 3 of 3