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Home My WebLink AboutGEDCO_Agenda&Minutes_2006Notice of Meeting of the Georgetown Economic Development Corporation and the Governing Body of the City of Georgetown, Texas Tuesday, December 12, 2006 The Board of Directors of the Georgetown Economic Development Corporation, created pursuant to Section 4A of the Economic Development Act of 1979, as amended (Tex. Rev. Civ. Stat. Ann. Art 5190.6), will meet on Tuesday, December 12, 2006 beginning at 02:00 PM in the City Council Chambers, located at 101 E. 7th Street, Georgetown, Texas If you need accommodations for a disability, please notify the city in advance. Georgetown Economic Development Corporation Members: Ben Oliver, Farley Snell, Henry Carr, Rick Smith, Ron Shelly Call to Order at 02:00 PM Regular Meeting 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. 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: A.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 Section 4A of Economic Development Act of 1979 (as amended) which discussion in open session would have a detrimental effect on negotiations with third persons. B.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. C.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. 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. D.Consideration and approval of the minutes from the Regular Board Meeting held Monday, November 20, 2006--Farley Snell, Secretary E. Consideration of the November 30, 2006 Financial Report---Micki Rundell, Finance Manager F.Consideration and possible action to approved an amended Resolution and Performance Agreement regarding Citigroup North America, Inc. (also referred to as Project Lee) --Paul Brandenburg, General Manager and Mark Thomas, Director of Economic Development G. Discussion and possible action to approve a Performance Agreement for the Loading Dock -- Paul E. Brandenburg, City Manager and Mark Thomas, Economic Development Director Certificate of Posting I, Sandra Lee, City Secretary for the City of Georgetown, Texas, do hereby certify that this Notice of Meeting was posted at City Hall, 113 E. 8th Street, a place readily accessible to the general public at all times, on the _____ day of _________________, 2006, at __________, and remained so posted for at least 72 continuous hours preceding the scheduled time of said meeting. __________________________________ Sandra Lee, City Secretary Minutes of the Meeting of the Georgetown Economic Development Corporation and the Governing Body of the City of Georgetown, Texas Tuesday, December 12, 2006 The Georgetown Economic Development Corporation of the City of Georgetown, Texas, met on Tuesday, December 12, 2006. Members Present: Ron Shelly, President, Ben Oliver, Vice President, Farley Snell, Secretary, Rick Smith, Henry Carr Members Absent: Staff Present: Paul E. Brandenburg, General Manager, Leticia Zavala, Acting Assistant Finance Director, Mark Thomas, Economic Development Director, Jim Briggs, Assistant City Manager for Utility Operations, Tom Yantis, Assistant City Manager, George Gomez, Economic Development Program Specialist, Shirley J. Rinn, Executive Assistant/Deputy City Secretary, Patricia E. Carls, City Attorney Minutes Regular Meeting Called to order 2:02p.m. Regular Meeting 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. 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: A.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 Section 4A of Economic Development Act of 1979 (as amended) which discussion in open session would have a detrimental effect on negotiations with third persons. B.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. C.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. 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. D.Consideration and approval of the minutes from the Regular Board Meeting held Monday, November 20, 2006--Farley Snell, Secretary Motion by Carr second by Oliver to approve the minutes from the Regular Board Meeting held Monday, November 20, 2006, as corrected by Shelly. Approved 5-0. E. Consideration of the November 30, 2006 Financial Report---Micki Rundell, Finance Manager Zavala told the Board that they received an amended Financial Report for September 30, 2006, as well as for November 31, 2006. Zavala gave the Board an overview of the Financial Report, including monthly sales tax revenues, monthly expenditures, budgetary report, and other relevant financial information. There was a clarification of the descriptions of unreserved vs. contingency funds. There was discussion regarding the difference between last year and this year with regard to sales tax collected. Shelly requested that the Sales Tax History be compared to the prior reports on future reports. Discussion regarding project reporting to the Board. Request for there to be a standing Agenda item for project summaries. F.Consideration and possible action to approved an amended Resolution and Performance Agreement regarding Citigroup North America, Inc. (also referred to as Project Lee) --Paul Brandenburg, General Manager and Mark Thomas, Director of Economic Development Carls and Briggs explained the amendments that were made to the Performance Agreement since it was last approved by the GEDCO Board. Motion by Snell second by Smith to approve a Performance Agreement regarding Citicorp North America, Inc., the Project formerly referred to as “Project Lee”. Approved 5-0. G. Discussion and possible action to approve a Performance Agreement for the Loading Dock -- Paul E. Brandenburg, City Manager and Mark Thomas, Economic Development Director Carls gave an overview of the requirements in the Performance Agreement. Motion by Carr second by Smith to approve a Performance Agreement for the Loading Dock. Approved 5-0. Brandenburg gave the Board an overview of the procedure for the Infrastructure Improvements. He told them that this project would come back during the budget in the Capital Improvement Plan. Motion to Adjourn. Adourned at 2:25 p.m. Attest: ___________________________________________________________ Farley Snell, Secretary Ron Shelly, President Notice of Meeting of the Georgetown Economic Development Corporation and the Governing Body of the City of Georgetown, Texas Monday, November 20, 2006 The Board of Directors of the Georgetown Economic Development Corporation, created pursuant to Section 4A of the Economic Development Act of 1979, as amended (Tex. Rev. Civ. Stat. Ann. Art 5190.6), will meet on Monday, November 20, 2006 beginning at 02:00 PM in the City Council Chambers, located at 107 E. 7th Street, Georgetown, Texas If you need accommodations for a disability, please notify the city in advance. Georgetown Economic Development Corporation Members: Ben Oliver, Farley Snell, Henry Carr, Rick Smith, Ron Shelly Call to Order at 02:00 PM Regular Meeting 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. 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: A.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 Section 4A of Economic Development Act of 1979 (as amended) which discussion in open session would have a detrimental effect on negotiations with third persons. B.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. C.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. 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. D.Consideration and approval of the minutes from the Regular Board Meeting held Monday, October 16, 2006--Farley Snell, Secretary E. Consideration of the October31, 2006 Financial Report---Micki Rundell, Finance Manager F.Consideration and possible action to approve a Resolution of the Georgetown Economic Development Corporation (GEDCO) amending Resolution No. 071706-D-1 and Performance Agreement regarding Citicorp North America, Inc., the Project formerly referred to as “Project Lee”--Paul Brandenburg, General Manager and Mark Thomas, Director of Economic Development G.Consideration and possible action to approve a Sales Tax Remittance Agreement between the City of Georgetown and the Georgetown Economic Development Corporation (GEDCO)---Micki Rundell, Finance Manager H.Consideration and possible action to approve a Targeted Infrastructure Agreement between the City of Georgetown and the Georgetown Economic Development Corporation (GEDCO) ---Micki Rundell, Finance Manager I.Consideration and possible recommendation to approve a contract amendment between the City of Georgetown and Camp, Dresser, and McKee, Inc. for professional services related to the design of the Smith Branch West Fork Interceptor for $155,050.00.--Paul Brandenburg, General Manager and Mark Thomas, Director of Economic Development Certificate of Posting I, Sandra Lee, City Secretary for the City of Georgetown, Texas, do hereby certify that this Notice of Meeting was posted at City Hall, 113 E. 8th Street, a place readily accessible to the general public at all times, on the _____ day of _________________, 2006, at __________, and remained so posted for at least 72 continuous hours preceding the scheduled time of said meeting. __________________________________ Sandra Lee, City Secretary Minutes of the Meeting of the Georgetown Economic Development Corporation and the Governing Body of the City of Georgetown, Texas Monday, November 20, 2006 The Georgetown Economic Development Corporation of the City of Georgetown, Texas, met on Monday, November 20, 2006. Members Present: Ben Oliver, Farley Snell, Henry Carr, Rick Smith, Ron Shelly Members Absent: Staff Present: Paul E. Brandenburg, General Manager, Micki Rundell, Finance Manager, Mark Thomas, Director of Economic Development, Jim Briggs, Assistant City Manager for Utility Operations, George Gomez, Economic Development Program Specialist Minutes Regular Meeting REGULAR SESSION: Meeting was called to order at 2:00pm. Recessed into Executive Session at 2:01pm 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. 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: A.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 Section 4A of Economic Development Act of 1979 (as amended) which discussion in open session would have a detrimental effect on negotiations with third persons. B.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. C.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 into Regular Session at 2:30pm. Action out of Executive Session Motion by Oliver, second by Smith to authorize staff to negotiate a Performance Agreement with the Loading Dock as outlined in Executive Session. Approved 5-1 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. D.Consideration and approval of the minutes from the Regular Board Meeting held Monday, October 16, 2006--Farley Snell, Secretary Motion by Carr second Smith to approve the minutes from the Regular Board Meeting held Monday, October 16, 2006, as corrected by Shelly. Approved 5-0. E. Consideration of the October 31, 2006 Financial Report---Micki Rundell, Finance Manager Rundell gave the Board an overview of the Financial Report, including monthly sales tax revenues, monthly expenditures, budgetary report, and other relevant financial information. She also told the Board that she included a "cash flow" forecast for their review, including timing of authorized committments to date, as well as the remaining debt capacity, assuming the Board issues funding for the Citicorp project. F.Consideration and possible action to approve a Resolution of the Georgetown Economic Development Corporation (GEDCO) amending Resolution No. 071706-D-1 and Performance Agreement regarding Citicorp North America, Inc., the Project formerly referred to as “Project Lee”--Paul Brandenburg, General Manager and Mark Thomas, Director of Economic Development Carls gave the Board an overview of the Performance Agreement with Citicorp. She told them the Performance Agreement includes the approved amount of $1.3 Million for the targeted infrastructure improvements. She went over the statutory requirements and the definitions in the Agreement. She also went over the map of the proposed improvements. There was further discussion regarding contruction of the facility, the minimum capital investment, construction of the wastewater line, as well as the extension of the wastewater line project. Carls went on to inform the Board that Citicorp wants to start on this project early next year and that GEDCO is committing the funding and that the Cityof Georgetown is to do the Design, Bid Specifications, Construction Plans, and to obtain the easements. Tom Benz told the Board that the reason the proposed line is designed the way it is, is so that we will only have to deal with one land owner and that will hopefully expedite this project. There was additional discussion regarding job creation, performance issues outlined in the Agreement by Citicorp, the reasons for the proposed timing with regard to the tax abatements, the need to have Citicorp being reimbursed only when they have been issued a Certificate of Obligation for the building, as well as the construction of the infrastructure and the responsibilities of each party. There was a clarification that GEDCO would be paying Citicorp who in turn will pay Bourn Partners for the construction of the infrastructure. Motion by Snell second by Oliver to approve a Resolution of the Georgetown Economic Development Corporation (GEDCO) amending Resolution No. 071706-D-1 and Performance Agreement regarding Citicorp North America, Inc., the Project formerly referred to as “Project Lee”. There was additional discussion regarding the criteria for determining the size of the infrastructure. Approved 5-0. Additional discussion and clarification regarding the cash flow analysis regarding this project. G.Consideration and possible action to approve a Sales Tax Remittance Agreement between the City of Georgetown and the Georgetown Economic Development Corporation (GEDCO)---Micki Rundell, Finance Manager Rundell explained the purpose of the Interlocal Agreement. Motion by Oliver second by Carr to approve a Sales Tax Remittance Agreement between the City of Georgetown and the Georgetown Economic Development Corporation (GEDCO). Approved 5-0 H.Consideration and possible action to approve a Targeted Infrastructure Agreement between the City of Georgetown and the Georgetown Economic Development Corporation (GEDCO) ---Micki Rundell, Finance Manager Rundell explained the purpose of the Interlocal Agreement. Motion by Carr second by Snell to approve a Targeted Infrastructure Agreement between the City of Georgetown and the Georgetown Economic Development Corporation (GEDCO). Approved 5-0 I.Consideration and possible recommendation to approve a contract amendment between the City of Georgetown and Camp, Dresser, and McKee, Inc. for professional services related to the design of the Smith Branch West Fork Interceptor for $155,050.00.--Paul Brandenburg, General Manager and Mark Thomas, Director of Economic Development Tom Benz explained the purpose of the contract. There was clarification that the City can hire an engineering firm based on qualifications for engineering and design of infrastructure projects as opposed to having to go through a formal bid process. Motion by Carr, second by Smith to approve a approve a contract amendment between the City of Georgetown and Camp, Dresser, and McKee, Inc. for professional services related to the design of the Smith Branch West Fork Interceptor for $155,050.00. Approved 5-0. Motion to Adjourn. Adourned at 3:20 p.m. Attest: ___________________________________________________________ Farley Snell, Secretary Ron Shelly, President Notice of Meeting of the Georgetown Economic Development Corporation and the Governing Body of the City of Georgetown, Texas Monday, October 16, 2006 The Board of Directors of the Georgetown Economic Development Corporation, created pursuant to Section 4A of the Economic Development Act of 1979, as amended (Tex. Rev. Civ. Stat. Ann. Art 5190.6), will meet on Monday, October 16, 2006 beginning at 02:00 PM in the City Council Chambers, located at 101 E. 7th Street, Georgetown, Texas If you need accommodations for a disability, please notify the city in advance. Georgetown Economic Development Corporation Members: Ben Oliver, Farley Snell, Henry Carr, Rick Smith, Ron Shelly Call to Order at 02:00 PM Regular Meeting 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. 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: A.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 Section 4A of Economic Development Act of 1979 (as amended) which discussion in open session would have a detrimental effect on negotiations with third persons. B.Section 551.087. DELIBERATION REGARDING ECONOMIC DEVELOPMENT NEGOTIATIONS. 1. Update regarding "Project Heritage" 2. 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. C.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. 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. D.Consideration and possible action to confirm the discussions and actions taken at the September 18, 2006 GEDCO Meeting -- Paul E. Brandenburg, General Manager Motion to approve the minutes from the Regular Board Meeting held Monday, July 17, 2006 and September 18, 2006. Action: Approved 4-0 (Shelley Absent) Motion to instruct staff to prepare a Performance Agreement to reimburse Hope Lumber in the amount of $19,000 for rail spur infrastructure costs. Action: Approved 4-0 (Shelley Absent) Consideration of the August 31, 2006 Financial Report. Action: Discussion only; no Action. Motion to approve the Administrative Services Contract between the City of Georgetown and the Georgetown Economic Development Corporation. Action: Approved 4-0 (Shelley Absent) Motion to approve the GEDCO 2006/07 Budget. Action: Approved 4-0 (Shelley Absent) E.Consideration and approval of the minutes from the Regular Board Meeting held Monday, September 18, 2006--Farley Snell, Secretary F. Consideration of the preliminary, year-ending September 30, 2006 financial report--Micki Rundell, Finance Manager G.Discussion and possible action to approve a Resolution and Performance Agreement regarding Hope Lumber – Paul Brandenburg, General Manager and Mark Thomas, Director of Economic Development H. Discussion regarding the Citigroup project --Paul Brandenburg, General Manager and Mark Thomas, Director of Economic Development I.Discussion and possible action regarding Austin Avenue waterline improvements - Tom Yantis, Assistant City Manager and Mark Thomas , Director of Economic Development Certificate of Posting I, Sandra Lee, City Secretary for the City of Georgetown, Texas, do hereby certify that this Notice of Meeting was posted at City Hall, 113 E. 8th Street, a place readily accessible to the general public at all times, on the _____ day of _________________, 2006, at __________, and remained so posted for at least 72 continuous hours preceding the scheduled time of said meeting. __________________________________ Sandra Lee, City Secretary Minutes of the Meeting of the Georgetown Economic Development Corporation and the Governing Body of the City of Georgetown, Texas Monday, October 16, 2006 The Georgetown Economic Development Corporation of the City of Georgetown, Texas, met on Monday, October 16, 2006. Members Present: Ron Shelly, Rick Smith, Farley Snell, Ben Oliver, Henry Carr Members Absent: Staff Present: Paul E. Brandenburg, General Manager, Micki Rundell, Finance Manager, Mark Thomas, Director of Economic Development, Jim Briggs, Assistant City Manager for Utility Operations, George Gomez, Economic Development Program Specialist Minutes Regular Meeting The Meeting was called to order at 2:00pm. Recessed at 2:01pm into Executive Session. Regular Meeting 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. 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: A.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 Section 4A of Economic Development Act of 1979 (as amended) which discussion in open session would have a detrimental effect on negotiations with third persons. B.Section 551.087. DELIBERATION REGARDING ECONOMIC DEVELOPMENT NEGOTIATIONS. 1. Update regarding "Project Heritage" 2. 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. C.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 into Regular Session at 2:45p.m. 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. There was no Action from Executive Session. D.Consideration and possible action to confirm the discussions and actions taken at the September 18, 2006 GEDCO Meeting -- Paul E. Brandenburg, General Manager Brandenburg explained to the Board that the meeting location was inadvertently left off of the Agenda that was posted for the September 18, 2006 Meeting. Accordingly, the items that were approved at that meeting need to be reaffirmed as follows: Motion to approve the minutes from the Regular Board Meeting held Monday, July 17, 2006 and September 18, 2006. Action: Approved 4-0 (Shelly Absent) Motion to instruct staff to prepare a Performance Agreement to reimburse Hope Lumber in the amount of $19,000 for rail spur infrastructure costs. Action: Approved 4-0 (Shelly Absent) Consideration of the August 31, 2006 Financial Report. Action: Discussion only; no Action. Motion to approve the Administrative Services Contract between the City of Georgetown and the Georgetown Economic Development Corporation. Action: Approved 4-0 (Shelly Absent) Motion to approve the GEDCO 2006/07 Budget. Action: Approved 4-0 (Shelly Absent) Motion by Oliver second by Smith to reaffirm the actions that were taken by the GEDCO Board at its September 18, 2006 Meeting. Approved 4-0. (Shelly Abstained due to absence at October 16, 2006 Meeting) E.Consideration and approval of the minutes from the Regular Board Meeting held Monday, September 18, 2006--Farley Snell, Secretary Motion by Carr second by Oliver to approve approval of the minutes from the Regular Board Meeting held Monday, September 18, 2006. Approved 5-0 F. Consideration of the preliminary, year-ending September 30, 2006 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 budgetary report, and other relevant financial information. There was additional discussion regarding the need for current project list, as well as the timing and phasing of projects, and debt issuance and reserves. Rundell told the Board that she would be compiling a project list as we move forward. G.Discussion and possible action to approve a Resolution and Performance Agreement regarding Hope Lumber – Paul Brandenburg, General Manager and Mark Thomas, Director of Economic Development Brandenburg told the Board that Hope Lumber Company provides a major sales tax benefit to the City and gave an overview of the reasons why granting 4A funding to offset the difference in the cost of relocating the electrical lines was important to the Community. Motion by Snell second by Shelly to approve a Resolution and Performance Agreement regarding Hope Lumber, Approved 5-0. It was verified that the Performance Agreement and payment to Hope Lumber Company would have final approval from the City Council. H. Discussion regarding the Citigroup project --Paul Brandenburg, General Manager and Mark Thomas, Director of Economic Development Thomas and Brandenburg gave the Board an overview of the ongoing discussions with Citicorp. Thomas told them that this was a massive project with many moving parts, and that the land has not been purchased yet, but that the site had been identified . He went on to let them know that there were a few issues with the road that were being worked on between Bourn Partners and the City , and that this particular road would be bigger than the one that was provided for Tasus . He said it would be accessible by other businesses , potentially other data center projects. He said that the property value on this project would be very high . They went on to discuss the timeline and Thomas told the Board that Citicorp hoped to break ground by January 2007. I.Discussion and possible action regarding Austin Avenue waterline improvements - Tom Yantis, Assistant City Manager and Mark Thomas, Director of Economic Development Briggs gave the Board an overview regarding the cost estimates, material and labor requirements related to the water/wastewater infrastructure improvements for the Loading Dock because of new fire codes and sprinkler system requirements. He told the Board that these improvements will conver the entire block on the west and part of 8th Street. He told them that this infrastructure would help any other new businesses that locate downtown in that area. There was additional discussion regarding what it would take to improve the fire protection in other areas of downtown as well. Motion by Snell, second by Oliver to request that staff to provide the Board with a comprehensive plan for the downtown for the highest level of fire protection spanning the next several years to be considered by the Board. Approved 5-0. There was additional discussion regarding the timeframe and cost for completing the infrastructure improvements. Briggs told the Board that the total cost was approximately $200,000. The Board went on to discuss the eligibility of this project for TIF Funding, which will fund 1/2 of the funding for this project. Motion by Snell second by Oliver to approve the allocation of $100,000 of 4A funding toward the Austin Avenue Waterline improvements. Approved 5-0. Discussion regarding whether or not the Board should fund this project with cash or debt funding. Rundell told the Board that there should be an item on the next agenda to determine whether or not to debt fund this project. There was additional discussion regarding the retail exception for 4A Funding and the requirement for a Performance Agreement with the Loading Dock. There was further discussion regarding the differences between GTEC and GEDCO and the need for Performance Agreements. Motion by Oliver, second by Carr to Adjourn. Meeting Adjourned at 2:25 o'clock p.m. Attest: ___________________________________________________________ Farley Snell, Secretary Ron Shelly, President Notice of Meeting of the Georgetown Economic Development Corporation and the Governing Body of the City of Georgetown, Texas Monday, September 18, 2006 The Board of Directors of the Georgetown Economic Development Corporation, created pursuant to Section 4A of the Economic Development Act of 1979, as amended (Tex. Rev. Civ. Stat. Ann. Art 5190.6), will meet on Monday, September 18, 2006 beginning at 02:00 PM in the If you need accommodations for a disability, please notify the city in advance. Georgetown Economic Development Corporation Members: Ben Oliver, Farley Snell, Henry Carr, Rick Smith, Ron Shelly Call to Order at 02:00 PM 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. 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: A.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 Section 4A of Economic Development Act of 1979 (as amended) which discussion in open session would have a detrimental effect on negotiations with third persons. B.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. C.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. 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. D.Consideration and approval of the minutes from the Regular Board Meeting held Monday, July 17, 2006--Farley Snell, Secretary E.Consideration and Possible action regarding the Hope Lumber rail spur infrastructure costs - Mark Thomas, Economic Development Director F.Consideration of the August 31, 2006 Financial Report - Micki Rundell, GEDCO Finance Manager G.Consideration and possible action regarding the Administrative Services Contract between the City of Georgetown and the Georgetown Economic Development Corporation, Micki Rundell, GEDCO Finance Manager H.Consideration and possible action to approve the GEDCO 2006/07 Budget, Micki Rundell, GEDCO Finance Manager Certificate of Posting I, Sandra Lee, City Secretary for the City of Georgetown, Texas, do hereby certify that this Notice of Meeting was posted at City Hall, 113 E. 8th Street, a place readily accessible to the general public at all times, on the _____ day of _________________, 2006, at __________, and remained so posted for at least 72 continuous hours preceding the scheduled time of said meeting. __________________________________ Sandra Lee, City Secretary GEDCO Agenda/September 18, 2006 Page 23 of 61 Minutes of the Meeting of the Georgetown Economic Development Corporation and the Governing Body of the City of Georgetown, Texas Monday, September 18, 2006 The Georgetown Economic Development Corporation of the City of Georgetown, Texas, met on Monday, September 18, 2006. Members Present: Farley Snell, Ben Oliver, Henry Carr, Rick Smith Members Absent: Ron Shelly Staff Present: Paul Brandenburg, Manager, Micki Rundell, Finance Manager, George Gomez, Economic Development Program Specialist, Shirley Rinn, Deputy City Secretary Minutes Regular Meeting 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. The Meeting was called to order at 2:01 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: A.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 Section 4A of Economic Development Act of 1979 (as amended) which discussion in open session would have a detrimental effect on negotiations with third persons. B.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 GEDCO Agenda/September 18, 2006 Page 24 of 61 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. C.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. 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. D.Consideration and approval of the minutes from the Regular Board Meeting held Monday, July 17, 2006--Farley Snell, Secretary Motion by Carr, second by Smith to approve the minutes from the Regular Board Meeting held Monday, July 17, 2006. Approved 4-0 (Shelly absent) E.Consideration and Possible action regarding the Hope Lumber rail spur infrastructure costs - Mark Thomas, Economic Development Director Paul Brandenburg explained to the GEDCO Board the situation with Hope Lumber Company regarding the expansion of the rail spur on their property. He told the Board that easements and electrical lines had to be relocated in order accommodate this project. He went on to explain that Hope Lumber company was given an estimate of approximately $17,000 to relocate the electric lines regarding this project. However, final costs ended being in the neighborhood of $35,000. Brandenburg went on to explain to the Board that the representatives of Hope Lumber were upset not only with the final costs, but more so with the lack of communication on the part of City Staff and the Engineering firm that worked on the project regarding the increased costs involved with the Project. Brandenburg told the Board that he would like to request that the GEDCO Board either approve to fund the whole cost of project, or at least allocate funding to Hope Lumber to make up the overage between the initial cost estimate of this project and the final cost of this project. He told the Board that Hope Lumber Company was willing to pay the total cost of this project, and had not approached the City to request additional funding. However, he told the Board that he felt that this was an important retention issue regarding this company and that it would be a good gesture on the 4A Board's part to acknowledge the importance of Hope Lumber continuing to base its operations in Georgetown, and its possible expansion in the future. Hope Lumber is currently one of the largest sales tax producers for the City. There was additional discussion among the Board members regarding the need for some specific policies and procedures regarding committments such as this one. It was noted that this was the second time a proactive commitment was made to a company by the 4A GEDCO Agenda/September 18, 2006 Page 25 of 61 Board without the Board being approached by the company . It was also noted that the Board needed to be very cautious in the future regarding commitments of this type. Motion by Snell, second by Smith to support funding in the amount of $19,000 to Hope Lumber Company pending review and approval of a Performance Agreement. Approved. (4-0)(Shelly absent) F.Consideration of the August 31, 2006 Financial Report - Micki Rundell, GEDCO 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 budgetary report, and other relevant financial information. G.Consideration and possible action regarding the Administrative Services Contract between the City of Georgetown and the Georgetown Economic Development Corporation, Micki Rundell, GEDCO Finance Manager Rundell presented the Board with the Administrative Service Contract between the City and the GEDCOBoard to reimburse the City for its administrative costs. She told the Board that the contract was for the same amount that it was last year, $3,000. She told the Board that it was kept at the same level as last year because the Board had not completed a full budget cycle yet . Motion by Carr, Second by Smith to approve the Administrative Services Contract between the City of Georgetown and the Georgetown Economic Development Corporation. Approved. (4-0) (Shelly absent) H.Consideration and possible action to approve the GEDCO 2006/07 Budget, Micki Rundell, GEDCO Finance Manager Rundell gave the Board an overview of the 2006/07 Budget, including a 5 year pro forma, approved projects and an overview of the debt capacity of the Board. She told the Board that the Downtown waterline is not included on this budget because it hasn't been finalized yet. She also reiterated to the Board that GEDCO is a stand alone compenent in the City's Budget. She briefly discussed the difference between Economic Development Bonds issed for GEDCO and the Revenue Bonds used by GTEC. Motion by Carr, Second by Smith to approve the GEDCO 2006/07 Budget. Approved. (4-0) GEDCO Agenda/September 18, 2006 Page 26 of 61 (Shelly absent) Brief discussion regarding the status of the waterline infrastracture that was discussed at the last meeting. There was also discussion regarding the amount of funding that the City has provided for the Downtown. Motion by Carr, Second by Snell to Adjourn. Meeting Adjourned at 2:25 o'clock p.m. Attest: ___________________________________________________________ Shirley Rinn, Deputy City SecretaryFarley Snell, Secretary Notice of Meeting of the Georgetown Economic Development Corporation and the Governing Body of the City of Georgetown, Texas Monday, July 17, 2006 The Board of Directors of the Georgetown Economic Development Corporation, created pursuant to Section 4A of the Economic Development Act of 1979, as amended (Tex. Rev. Civ. Stat. Ann. Art 5190.6), will meet on Monday, July 17, 2006 beginning at 02:00 PM in the City Council Chambers, located at 107 E. 7th Street, Georgetown, Texas If you need accommodations for a disability, please notify the city in advance. Georgetown Economic Development Corporation Members: Ben Oliver, Farley Snell, Henry Carr, Rick Smith, Ron Shelly Call to Order at 02:00 PM 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. 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: A.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 Section 4A of Economic Development Act of 1979 (as amended) which discussion in open session would have a detrimental effect on negotiations with third persons. B.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. C.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. 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. D.Action from Executive Session . D-1.Discussion and possible action to approve a Resolution regarding "Project Lee" – Paul Brandenburg, General Manager and Mark Thomas, Director of Economic Development E.Discussion regarding utility infrastructure improvements for the the Downtown Square - Tom Yantis, Assistant City Manager and Mark Thomas, Director of Economic Development F.Consideration and approval of the minutes from the Regular Board Meeting held Monday, May 15, 2006--Farley Snell, Secretary G.Consideration of the June 30, 2006 Financial Report - Micki Rundell, Finance Manager Certificate of Posting I, Sandra Lee, City Secretary for the City of Georgetown, Texas, do hereby certify that this Notice of Meeting was posted at City Hall, 113 E. 8th Street, a place readily accessible to the general public at all times, on the _____ day of _________________, 2006, at __________, and remained so posted for at least 72 continuous hours preceding the scheduled time of said meeting. __________________________________ Sandra Lee, City Secretary Minutes of the Meeting of the Georgetown Economic Development Corporation and the Governing Body of the City of Georgetown, Texas Monday, July 17, 2006 The Georgetown Economic Development Corporation of the City of Georgetown, Texas, met on Monday, July 17, 2006. Members Present: Ron Shelly, Ben Oliver, Henry Carr, Farley Snell Members Absent: Rick Smith Staff Present: Mark Thomas, Economic Development Director, George Gomez, Program Specialist, Barbara Quirck, City Attorney, Leticia Zavala Minutes Regular Meeting REGULAR SESSION: Meeting was called to order at 2:02 o'clock p.m. Recessed into Executive Session at 2:03 o'clock p.m. Reconvened into Regular Session at2:38 o'clock p.m. 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. 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: A.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 Section 4A of Economic Development Act of 1979 (as amended) which discussion in open session would have a detrimental effect on negotiations with third persons. B.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. C.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. 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. D.Action from Executive Session . D-1.Discussion and possible action to approve a Resolution regarding "Project Lee" – Paul Brandenburg, General Manager and Mark Thomas, Director of Economic Development Motion by Carr, second by Oliver to approve a Resolution regarding "Project Lee" under the terms and conditions outlined in Executive Session, including the terms contained in a confidential letter, and the 4A Board having found that "Project Lee" meets the criteria for expending 4A funds under the Development Corporation Act, as stated in the draft resolution presented to the Board which references, among other sections, Section 2(11)(C) of the Act, resolves to approve Project Lee to expend up to a maximum amount of $1.3 Million for water/wastewater infrastructure subject to certain financial determinations, including that this amount will not exceed the 4A Board's borrowing capacity, and subject to the approval of a Performance Agreement by the 4A Board and the Georgetown City Council. Approved 5-0. The Board asked staff to review the following: The Board would like to see a calculation of the 4A Board's borrowing capacity. The Board would like to know if the infrastructure repayments can flow back directly to the 4A Board's budget or whether they can be used to pay off the debt early and free up the funding. The Board would like to review the possibility of the developer sharing in the cost of the water/wastewater infrastructure, particularly a scenario whereby the City would incur the cost of supplying the infrastructure to the perimeter of the development site and the developer incurring the cost of providing the infrastructure from the perimeter to the actual building site. Look into the water/wastewater department's ability to participate in the project. Development of the Performance Agreement around certain parameters, including people, capital investment and electric department utilization . E.Discussion regarding utility infrastructure improvements for the Downtown Square - Tom Yantis, Assistant City Manager and Mark Thomas, Director of Economic Development Thomas addressed the Board and told them about the Boyington/Vista Solutions development, which includes a restaurant, the Loading Dock. He told the Board that the new owners of old buildings in the downtown area now have to meet the new UDC requirements, including fire suppression systems, which are expensive. Thomas told the board that the Boyington's agreed to build a larger more comprehensive fire suppression system that would eventually have the capability of tying into future water lines. However, in the meantime, they have discovered that the current 1/2 inch line behind their building does not supply enough water pressure to accommodate the larger fire suppression system. They have been told that they can use the current line to get a temporary CO, but it isn't permanent. Thomas told the Board that he would like for the Board to consider supplying funding for water/wastewater infrastructure improvements that would have the capability of serving all downtown business/properties to utilize the water, similar to the Regional Downtown Detention Ponds. There was discussion regarding the rules for expenditure of 4A funds, and that in certain circumstances, 4A funds can be used for water/wastewater infrastructure for retail. Thomas told the Board that he felt that the Downtown area fits this criterion because of its importance to Economic Development in Georgetown. He said that he might not feel the same way about a different retail project in a different area, but that the Downtown area is very important in this instance. He said that in this particular case, there is a company that is housed upstairs providing primary jobs and a retail restaurant downstairs. There was additional discussion regarding the need to coordinate with other utilities, i.e. electric so that when the streets are dug up, that all utilities be placed at the same time so that the streets would not have to be dug up again at a later time in order to save costs. There was also a question as to whether or not water/wastewater has recapitalization ability in the same manner as the electric utility. There was additional discussion regarding the TIF District downtown and whether it could utilized as well. The Board also discussed the need to have a long range plan in place for these types of projects so that the board can plan better for its expenditures. There was additional discussion regarding ability to spend 4A dollars in relation to the contingency fund and the Board's borrowing ability. The Board went on to discuss the diversity of ownership of the buildings downtown and the impacts related to the old ownership vs. the new ownership, as well as the safety of the buildings in the downtown area and the need to ensure the safety of those buildings . The Board indicated that it would like to see some cost sharing and a long range plan for this type of project. F.Consideration and approval of the minutes from the Regular Board Meeting held Monday, May 15, 2006--Farley Snell, Secretary Motion by Snell, second by Oliver to approve the minutes from the Regular Board Meeting held Monday, April 17, 2006. Approved 5-0. G.Consideration of the June 30, 2006 Financial Report - Micki Rundell, Finance Manager Leticia Zavala presented the Financial Report to the Board and explained the details in the report, which included monthly sales tax revenues, monthly expenditures, a budgetary report, and other relevant financial information. She told the Board that a large portion of the sales tax collected was related to building materials. There was also discussion regarding the impacts of Wolf Ranch and Zavala told the Board that Wolf Ranch's projections are where the City thought they would be, but not what the company thought they would be. Meeting Adjourned at 3:05 o'clock p.m. Attest: ___________________________________________________________ Shirley Rinn, Deputy City SecretaryFarley Snell, Secretary Notice of Meeting of the Georgetown Economic Development Corporation and the Governing Body of the City of Georgetown, Texas Monday, May 15, 2006 The Board of Directors of the Georgetown Economic Development Corporation, created pursuant to Section 4A of the Economic Development Act of 1979, as amended (Tex. Rev. Civ. Stat. Ann. Art 5190.6), will meet on Monday, May 15, 2006 beginning at 02:00 PM in the City Council Chambers, located at 101 E. 7th Street, Georgetown, Texas. If you need accommodations for a disability, please notify the city in advance. Georgetown Economic Development Corporation Members: Call to Order at 02:00 PM 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. 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: A.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 Section 4A of Economic Development Act of 1979 (as amended) which discussion in open session would have a detrimental effect on negotiations with third persons. B.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. C.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. 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. D.Consideration and approval of the minutes from the Regular Board Meeting held Monday, April 17, 2006--Farley Snell, Secretary E.Consideration of the April 30, 2006 Financial Report - Micki Rundell, Finance Manager F.Consideration and possible action regarding the precision machining training program--Mark Thomas, Director of Economic Development Certificate of Posting I, Sandra Lee, City Secretary for the City of Georgetown, Texas, do hereby certify that this Notice of Meeting was posted at City Hall, 113 E. 8th Street, a place readily accessible to the general public at all times, on the _____ day of _________________, 2006, at __________, and remained so posted for at least 72 continuous hours preceding the scheduled time of said meeting. __________________________________ Sandra Lee, City Secretary Minutes of the Meeting of the Georgetown Economic Development Corporation and the Governing Body of the City of Georgetown, Texas Monday, May 15, 2006 The Georgetown Economic Development Corporation of the City of Georgetown, Texas, met on Monday, May 15, 2006. Members Present: Ron Shelly, President, Rick Smith, Ben Oliver, Vice President, Farley Snell, Secretary Members Absent: Henry Carr Staff Present: Paul E. Brandenburg, General Manager, Micki Rundell, Finance Manager, Mark Thomas, Economic Development Director, Shirley Rinn, Deputy City Secretary, George Gomez, Program Specialist Minutes Regular Meeting 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. The Meeting was called to order at 2:00 p.m. Recessed at 2:00 pm to Executive Session 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: A.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 Section 4A of Economic Development Act of 1979 (as amended) which discussion in open session would have a detrimental effect on negotiations with third persons. B.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. C.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. There was no action out of executive session. 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. Reconvened to Regular Session at 2:30 p.m. D.Consideration and approval of the minutes from the Regular Board Meeting held Monday, April 17, 2006-Farley Snell, Secretary Motion by Oliver second by Smith to approve the minutes from the Regular Board Meeting held Monday, April 17, 2006. Approved 4-0 (Carr Absent) E.Consideration of the April 30, 2006, 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 budgetary report, and other relevant financial information. She indicated that the actual budget will end up being higher than projections based on sales tax collections. She also told them she will bring the actual budget to the Board at the next meeting. There was additional discussion regarding cost of legal services. F.Consideration and possible action regarding the precision machining training program-Mark Thomas, Director of Economic Development Thomas addressed the Board that the Economic Development Department continues to benchmark the program to ensure that the program is going to be successful . He introduced Ralph Nayman who is on the City's Economic Development Advisory Board. Thomas told the Board that Mr. Nayman has worked very closely with the economic development staff in their benchmarking efforts and recently visited the Leander High School Machining/Precision Program to obtain additional insight regarding their program. He said after visiting and reviewing Leander's program, which has been in place for 5 years, they feel like we need to take our time and study all of the issues invloved with developing the program more closely to ensure the success of the program before requesting that the 4A Board expend any funds toward the program. He said there are issues that need to be worked out with GISD regarding how the program is set up to ensure its success. He went on to tell the Board that the success of this program was going to be dependent on having a certified instructor. He also said the optimal class size is 13-15 students for safety reasons and that the instructors have to work very closely with each student for that reason. He also said that at Leander the counselors at the school work closely with the program coordinators to help identify students who can complete the program. He said Leander's program is very successful and has won a number of awards. They are graduating students who have gone on to obtain very good jobs. Thomas told the Board that Leander's program is very successful and we should model our program after theirs. He has talked with Joe Dan Lee, the GISD Superintendent who told him GISD fully supports this program. However, he also agrees that it is important to make sure that the program is developed appropriately to ensure its success. He said that GISD is going to go ahead and start the program with its existing instructors and continue their recruitment efforts for qualified students who can master the math requirements necessary for this type of program. He said they will offer the program to sophmores and begin with the training that doesn't require the lab. There is also some concern by GISD whether or not requiring a certified instructor is legal. Thomas told the Board they have talked with the Texas Education Agency and believe this can be done. However, we will need to work with GISD in order to alleviate this concern, and that will take time. He also told the Board it will also take time to locate a certified instructor and that it is very important these instructors be able to help set up the program and help locate the equipment necessary for the program. It was mentioned that a certified instructor might also have the resouces to located good used equipment that would save the program money. Discussion regarding the importance of a disciplined Advisory Board and not an ad hoc board. There was also dicussion of the importance of having all of the details ironed out before the 4A Board should expend any funding. Thomas confirmed that Leander's program does have an Industrial Advisory Board. There was additional discussion regarding the importance of this Advisory Board and that the members be directly involved in the program to ensure its success. There was also discussion as to how the Advisory Board could also use its resources to locate good used equipment in order to save the program money. Brandenburg told the Board he didn't think the Board should tie up its funding on potential projects, but instead be aware that the project is out there and may require funding at a future date. He said that he thought it was more important to keep its funding available for other projects that may come up and are ready to move forward . There was additional discussion regarding the process necessary to get instructors certified to teach this program, as well as the importance of having the buy-in from the GISD School Board. Meeting Adjourned at 2:45 p.m. Attest: ___________________________________________________________ Shirley Rinn , Deputy City SecretaryFarley Snell, Secretary Notice of Meeting of the Georgetown Economic Development Corporation and the Governing Body of the City of Georgetown, Texas Monday, April 17, 2006 The Board of Directors of the Georgetown Economic Development Corporation, created pursuant to Section 4A of the Economic Development Act of 1979, as amended (Tex. Rev. Civ. Stat. Ann. Art 5190.6), will meet on Monday, April 17, 2006 beginning at 02:00 PM in the City Council Chambers, located at 101 E. 7th Street, Georgetown, Texas. If you need accommodations for a disability, please notify the city in advance. Georgetown Economic Development Corporation Members: Ben Oliver, Farley Snell, Henry Carr, Rick Smith, Ron Shelly Call to Order at 02:00 PM 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. 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: A.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 Section 4A of Economic Development Act of 1979 (as amended) which discussion in open session would have a detrimental effect on negotiations with third persons. B.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. C.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. 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. D.Action from Executive Session . D-1.Discussion and possible action to approve a Resolution and Performance Agreement regarding "Project Vista" – Paul Brandenburg, General Manager and Mark Thomas, Director of Economic Development E.Consideration and approval of the minutes from the Regular Board Meeting held Monday, March 20, 2006--Farley Snell, Secretary F.Consideration of the March 31, 2006 Financial Report - Micki Rundell, Finance Manager F.Update on Precision Machining Training Program--Mark Thomas, Director of Economic Development Certificate of Posting I, Sandra Lee, City Secretary for the City of Georgetown, Texas, do hereby certify that this Notice of Meeting was posted at City Hall, 113 E. 8th Street, a place readily accessible to the general public at all times, on the _____ day of _________________, 2006, at __________, and remained so posted for at least 72 continuous hours preceding the scheduled time of said meeting. __________________________________ Sandra Lee, City Secretary GEDCO Minutes/April 17, 2006 Page 41 of 61 Minutes of the Meeting of the Georgetown Economic Development Corporation and the Governing Body of the City of Georgetown, Texas Monday, April 17, 2006 The Georgetown Economic Development Corporation of the City of Georgetown, Texas, met on Monday, April 17, 2006. Members Present: Ron Shelly, President, Rick Smith, Henry Carr, Ben Oliver, Vice President Members Absent: Farley Snell, Secretary Staff Present: Mark Thomas, Economic Development Director, Micki Rundell, Finance Manager, George Gomez, Economic Development Program Specialist, Paul Brandenbur, Manager, Trish Carls, City Attorney Minutes Regular Meeting Meeting was called to order at 2:00pm Recessed at 2:00 pm to Executive Session 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. 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: A.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 Section 4A of Economic Development Act of 1979 (as amended) which discussion in open session would have a detrimental effect on negotiations with third persons. B.Section 551.087. DELIBERATION REGARDING ECONOMIC DEVELOPMENT NEGOTIATIONS. Deliberation regarding commercial or financial information that the corporation has received from a business GEDCO Minutes/April 17, 2006 Page 42 of 61 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. C.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. 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. Reconvened to Regular Session at 2:25pm D.Action from Executive Session . D-1.Discussion and possible action to approve a Resolution and Performance Agreement regarding "Project Vista" – Paul Brandenburg, General Manager and Mark Thomas, Director of Economic Development Motion by Smith second by Oliver to approve a Resolution related to Project Vista and to revise the Performance Agreement regarding "Project Vista" so that it is clear that the the number of jobs brought to Georgetown on August 1, 2006 is known and to then again measure the number of jobs on August 1, 2007 and that if the positions are maintained and filled at that time, then the company is entitled to the $3,000 grant per job up to a maximum of $30,000 and that the Performance Agreement also clarify that the total is based upon the total annual compensation of $60,000 and not just the salary. Approved 4-0 (Snell absent) E.Consideration and approval of the minutes from the Regular Board Meeting held Monday, March 20, 2006--Farley Snell, Secretary Motion by Carr second by Oliver to approve the minutes from the Regular Board Meeting held Monday, March 20, 2006. Approved 4-0 (Snell Absent) F.Consideration of the March 31, 2006 Financial Report - Micki Rundell, Finance Manager Rundell provided the monthly financial report to the Board and went over the details in the report, which included monthly sales tax revenues, monthly expenditures, a budgetary report, and other relevant financial information. She also told the Board that sales tax GEDCO Minutes/April 17, 2006 Page 43 of 61 continues to be strong and is over 30% higher than expected . G.Update on Precision Machining Training Program--Mark Thomas, Director of Economic Development. Thomas addressed the board, gave them an update of the work done to date on this project and provided a draft Project Overview of the Precision Machining Training Program. He also explained to the Board the law that allows the Board to provide a grant to GISD for this program. He also provided a draft Resolution for the Board's review, as well as a draft of the proposed Memorandum of Understanding with GISD. The Board wanted to make sure that students would have the flexibility to enter the program and still meet the requirements of graduation based on the criteria described in the program overview. There was further discussion regarding performance measures of the program, as well as the type of training that would be provided in the program and the the equipment that would be used. The Board went on to discuss the specifics of whether or not agreement should be set up as a Memorandum of Understanding or a Performance Agreement. They also discussed issues related to the ownership of the equipment. There was additional discussion regarding how the budget will be set up once funds begin to be expended and how the assets will be accounted for in the budget. Thomas told the Board who the Advisory Board Members were. The meeting was adjourned at 3:04 pm. Attest: ___________________________________________________________ Shirley Rinn , Deputy City SecretaryFarley Snell, Secretary Notice of Meeting of the Georgetown Economic Development Corporation and the Governing Body of the City of Georgetown, Texas Monday, March 20, 2006 The Board of Directors of the Georgetown Economic Development Corporation, created pursuant to Section 4A of the Economic Development Act of 1979, as amended (Tex. Rev. Civ. Stat. Ann. Art 5190.6), will meet on Monday, March 20, 2006 beginning at 02:00 PM in the City Council Chambers, located at 101 E. 7th Street, Georgetown, Texas. If you need accommodations for a disability, please notify the city in advance. Georgetown Economic Development Corporation Members: Ben Oliver, Farley Snell, Henry Carr, Rick Smith, Ron Shelly Call to Order at 02:00 PM 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. 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: A.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 Section 4A of Economic Development Act of 1979 (as amended) which discussion in open session would have a detrimental effect on negotiations with third persons. B.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. C.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. 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. D.Consideration and approval of the minutes from the Regular Board Meeting held Monday, February 20, 2006--Farley Snell, Secretary E.Discussion and update regarding status, training and and use of the computer model/software called "Economic Analysis Computer Model for Georgetown, Texas" from "Impact Datasources” relating to the calculation of the Return on an Investment (ROI) - Mark Thomas, Director of Economic Development F.Update on Precision Machining Training Program--Mark Thomas, Director of Economic Development Certificate of Posting I, Sandra Lee, City Secretary for the City of Georgetown, Texas, do hereby certify that this Notice of Meeting was posted at City Hall, 113 E. 8th Street, a place readily accessible to the general public at all times, on the _____ day of _________________, 2006, at __________, and remained so posted for at least 72 continuous hours preceding the scheduled time of said meeting. __________________________________ Sandra Lee, City Secretary Minutes of the Meeting of the Georgetown Economic Development Corporation and the Governing Body of the City of Georgetown, Texas Monday, March 20, 2006 The Georgetown Economic Development Corporation of the City of Georgetown, Texas, met on Monday, March 20, 2006. Members Present: Ben Oliver, Vice-Chair, Farley Snell, Secretary, Henry Carr, Rick Smith Members Absent: Ron Shelly, Chair Staff Present: Paul E. Brandenburg, Mark Thomas, Shirley J. Rinn Minutes Regular Meeting 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. Vice Chair Ben Oliver called the meeting to order at 2:00pm The meeting was recessed to Executive Session at 2:03pm. 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: A.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 Section 4A of Economic Development Act of 1979 (as amended) which discussion in open session would have a detrimental effect on negotiations with third persons. B.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. C.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. The Board reconvened from Executive Session at 3:00pm. Action out of Executive Session Motion byCarr second Smith to authorize staff to negotiate performance agreement with Project Yogurt for an incentive not to exceed $30,000. Approved 4-0 (Shelly absent) 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. D.Consideration and approval of the minutes from the Regular Board Meeting held Monday, February 20, 2006--Farley Snell, Secretary Motion by Smith, second by Carr to approve the minutes from the Regular Board Meeting held on Monday, February 20, 2006. Approved 4-0 (Shelly absent) E.Discussion and update regarding status, training and and use of the computer model/software called "Economic Analysis Computer Model for Georgetown, Texas" from "Impact Datasources” relating to the calculation of the Return on an Investment (ROI) - Mark Thomas, Director of Economic Development Thomas provided the Board an overview of how the model is used for a potential project. Thomas explained that the program does allow the ability to change variables to study the impacts of changing those variables. F.Update on Precision Machining Training Program--Mark Thomas, Director of Economic Development Brandenburg gave the Board an overview of where this program is to date. Thomas went over the proposed timeline for implementing the Precision Machining Training Program. This item was supposed to be discussed with the GISD Board of Trustees at its March 20, 2006 meeting, however, it has been postponed to a later date due to an illness. They also discussed the organization of the Precision Maching Advisory Board and its role in the program. There was a clarification that the 4A Board is willing to provide the initial money needed to purchase the equipment, but that it was not going to provide an ongoing contribution. The goal is to have this program in place by Fall 2006. The meeting was adjourned at 3:15pm. Attest: ___________________________________________________________ Shirley Rinn , Deputy City SecretaryFarley Snell, Secretary February 20, 2006/GEDCO Agenda Page 49 of 2 Notice of Meeting of the Georgetown Economic Development Corporation and the Governing Body of the City of Georgetown, Texas Monday, February 20, 2006 The Board of Directors of the Georgetown Economic Development Corporation, created pursuant to Section 4A of the Economic Development Act of 1979, as amended (Tex. Rev. Civ. Stat. Ann. Art 5190.6), will meet on Monday, February 20, 2006 beginning at 02:00 PM in the City Council Chambers, located at 101 E. 7th Street, Georgetown, Texas. If you need accommodations for a disability, please notify the city in advance. Georgetown Economic Development Corporation Members: Ben Oliver, Farley Snell, Henry Carr, Rick Smith, Ron Shelly Call to Order at 02:00 PM 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. 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: A.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 Section 4A of Economic Development Act of 1979 (as amended) which discussion in open session would have a detrimental effect on negotiations with third persons. B.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. C.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 February 20, 2006/GEDCO Agenda Page 50 of 2 Professional Conduct of the State Bar of Texas. 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. D.Consideration and approval of the minutes from the Regular Board Meeting held Monday, January 23, 2006--Farley Snell, Secretary E.Discussion and possible action regarding input on the 2006/07 budget process--Micki Rundell, Finance Manager F.Consideration and possible action to approve the GEDCO 2006 Interim Budget--Micki Rundell, Finance Manager G.Consideration of the January 31, 2006 Financial Report--Micki Rundell, Finance Manager H.Update on Precision Machining Training Program--Mark Thomas, Director of Economic Development I.Discussion and possible action on coordination of the Economic Development Commission's goals and objectives relating to the 4A Board--Paul Brandenburg, General Manager and Mark Thomas, Director of Economic Development J.Project update and status of discussions with Fallbrook Technologies, Inc.--Paul Brandenburg, General Manager and Mark Thomas, Director of Economic Development K.Set date for next Corporation meeting. L.Adjourn Certificate of Posting I, Sandra Lee, City Secretary for the City of Georgetown, Texas, do hereby certify that this Notice of Meeting was posted at City Hall, 113 E. 8th Street, a place readily accessible to the general public at all times, on the _____ day of _________________, 2006, at __________, and remained so posted for at least 72 continuous hours preceding the scheduled time of said meeting. __________________________________ Sandra Lee, City Secretary GEDCO Minutes/February 20, 2006 51 of 61 Minutes of the Meeting of the Georgetown Economic Development Corporation and the Governing Body of the City of Georgetown, Texas Monday, February 20, 2006 The Georgetown Economic Development Corporation of the City of Georgetown, Texas, met on Monday, February 20, 2006. Members Present: Ron Shelly, Ben Oliver, Henry Carr, Farley Snell Members Absent: Rick C. Smith Staff Present: Paul Brandenburg, General Manager, Micki Rundell, Finance Manager, Trish Carls, City Attorney, Shirley J. Rinn, Deputy City Secretary, Mark Thomas, Economic Development Director, George Gomez, Program Specialist Minutes Regular Meeting The Meeting was called to Order at 2:00 p.m. 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. 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: A.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 Section 4A of Economic Development Act of 1979 (as amended) which discussion in open session would have a detrimental effect on negotiations with third persons. B.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 GEDCO Minutes/February 20, 2006 52 of 61 Georgetown. C.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. 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. D.Consideration and approval of the minutes from the Regular Board Meeting held Monday, January 23, 2006--Farley Snell, Secretary Motion by Oliver, second by Snell to approve the minutes from the Regular Board Meeting held Monday, January 23, 2006. Approved 4-0 (Smith absent) E.Discussion and possible action regarding input on the 2006/07 budget process--Micki Rundell, Finance Manager Rundell told the Board that this item wasn't really relevant to this Board at this time because while they will have a budget , there won't be any project specific allocations at this point. She went on went on to discuss Item F. F.Consideration and possible action to approve the GEDCO 2006 Interim Budget--Micki Rundell, Finance Manager Rundell went over the Interim Budget with the Board and explained each of the items on the handout. She told them she was presenting an Interim Budget because there were only 9 months left in the year. There was a clarification as to how the "Available Working Capital" is calculated. It was confirmed the contingency is a percentage of the Board's total sales tax number. Rundell also provided a 5-year performa so the Board could have an idea of what the estimated budgets will look like in the coming years. There was clarification that if no money was borrowed or spent in the current Budget year, it would roll forward to the following budget year. There was further discussion regarding how borrowing would impact the budget. There was clarification that the sales tax dollars that went into the GEDCO Budget were those collected in January 2006 through September 2006. It was also clarified that in the Interim Budget there would be 12 months worth of sales tax revenue collected, but only 9 months of expenses. There was additional discussion on the parameters used for year to year growth projections, as well as discussion regarding the impact of the Simon Mall's GEDCO Minutes/February 20, 2006 53 of 61 impact on the budget and its growth projections . Rundell told the Board that the budget would be updated for the upcoming budget year. Motion by Carr, second by Oliver, to approve the GEDCO 2006 Interim Budget. Approved 4-0. G.Consideration of the January 31, 2006 Financial Report--Micki Rundell, Finance Manager Rundell provided the monthly financial report to the Board and went over the details in the report, which included monthly sales tax revenues, monthly expenditures, a budgetary report, and other relevant financial information. Rundell told the Board that the City's baseline for the City's sales tax revenues had increased by over the last year, and that not all of the additional baseline was due to Simon. She told them that she was currently working with Mark Thomas to try and identify where all of the sources for the City's sales tax dollars are coming from. She said that the sales tax figure for December was 10-12% higher than the prior year, and that most of that increase was attributable to Simon. There was also a brief discussion regarding the Simon sales tax rebate and how it is calculated. H.Update on Precision Machining Training Program--Mark Thomas, Director of Economic Development Thomas gave the Board an update on this program to date. He told them that there are currently 3 companies, STI, SPM and Turnco who employ about a 100 employees in this area. He said that during all of their retention visits with these companies, their critical path for retention and expansion is having trained machinist available in the work force. Thomas told the Board that they have met with local companies and GISD, and that they have all indicated a willingness to work with the City on this project. The next step would be to bring all the parties together to discuss what the program will look like . George Gomez addressed the Board and gave them an overview of what the classes would look like. There was clarification that equipment is the major cost and this would be the area that GEDCO would need to contribute. Further discussion regarding maintenance/replacement costs of the equipment over time. There was additional discussion regarding the Board's commitment to the project, and it was emphasized that the Board was generally supportive of providing start up funding to purchase equipment, but not for the ongoing operation costs. The board also discussed support of funding upgrades for future equipment if necessary. The Board also discussed the anticipated wages in this field, the need for basic training on GEDCO Minutes/February 20, 2006 54 of 61 the machines , as well as the math requirements needed for the training , including trigonomenty, geometry, and calculus. There was discussion regarding whether or not the companies would need to sign Performance Agreements as to how many students they will hire. There was also discussion as to whether or not the companies consider each other competitors. Thomas told the Board that one of the companies is completely different than the other two and that the other two have some overlap, but are not identical . There was a discussion as to whether or not there should be a Standing Governance Structure or Board of Directors for this program so that there would be a true buy-in from the companies for this program. There was also discussion regarding internships, classroom training, as well as training on the job site. The Board indicated that the companies needed to understand that this program would be a long term project. There was additional discussion regarding the importance of the GISD's instructor's role in this program, as well as discussion that the key element to the success of the program is having the right people on board. I.Discussion and possible action on coordination of the Economic Development Commission's goals and objectives relating to the 4A Board--Paul Brandenburg, General Manager and Mark Thomas, Director of Economic Development Brandenburg addressed the Board regarding the role of the Economic Development Commission and how it has evolved since its inception. He told the Board that the EDC met in a retreat in November to discuss its current role and whether the EDC needed to be reorganized. He went on to tell the Board that he and Mark Thomas would be presenting a proposal Economic Development Commission Operating Plan to the EDC on Thursday, February 23, 2006. He said that the goal would be to have members of the EDC focus on certain areas such as retention/expansion, land and property, recruitment, government, retail, and transportation. He provided an overview of each of these focus areas. He also provided a proposed flowchart with a proposed process for forwarding development projects, redevelopment projects and economic development projects to the City Council. Brandenburg told the Board he felt it was important that any items brought before the 4A Board somehow be tied to the goals and objectives of this Plan. There was extensive discussion regarding the need to develop strategies to serve as a guide for the City in its economic development efforts, as well as discussion regarding the kinds of strategies that could be utilized in this effort, including market studies, identification of the City's assets that could be used in the City's recruitment efforts, sales tax leakage studies to identify the types of businesses that would benefit the community, identification of business that would create high paying new jobs. There was also discussion regarding the complexity of GEDCO Minutes/February 20, 2006 55 of 61 economic development and the need to diversify the community 's focus versus keeping all of the "eggs in one basket". The Board also talked about the type of information it would like to see from staff prior to proceeding with a project, especially calculations on investment/return. They felt that it was important to involve Finance in the economic development planning process. J.Project update and status of discussions with Fallbrook Technologies, Inc.--Paul Brandenburg, General Manager and Mark Thomas, Director of Economic Development Brandenburg explained to the Board that this particular business could now be discussed in open session because of a newspaper article about the company and its future plans. Mark Thomas told the Board that Fallbrook Technologies is staying where they are for at least a year. The Board went on to discuss Fallbrook's product line, as well as the dynamics of the competition the City will be looking at in a year when they are ready to make their move. The Board also discussed "what is a win?" when it comes to recruiting companies for economic development, the important need for strategic planning in this process, whether or not developers would build buildings in anticipation of companies moving to the community and utilizing the existing structures. There was also discussion as to what the community could do for developers to encourage them to do this. K.Set date for next Corporation meeting. Next Meeting is scheduled for March 20, 2006 L.Adjourn The Meeting was adjourned at 3: 24 p.m. Attest: ___________________________________________________________ Shirley Rinn , Deputy City SecretaryFarley Snell, Secretary Notice of Meeting of the Georgetown Economic Development Corporation and the Governing Body of the City of Georgetown, Texas Monday, January 23, 2006 The Board of Directors of the Georgetown Economic Development Corporation, created pursuant to Section 4A of the Economic Development Act of 1979, as amended (Tex. Rev. Civ. Stat. Ann. Art 5190.6), will meet on Monday, January 23, 2006 beginning at 02:00 PM in the City Council Chambers, located at 101 E. 7th Street, Georgetown, Texas. If you need accommodations for a disability, please notify the city in advance. Georgetown Economic Development Corporation Members: Ben Oliver, Farley Snell, Henry Carr, Rick Smith, Ron Shelly Call to Order at 02:00 PM 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. 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: A.Section 551.072. DELIBERATION REGARDING REAL PROPERTY Discussion and deliberation regarding the purchase , exchange, lease, or value of real property for economic development purposes. B.Section 551.087. DELIBERATION REGARDING ECONOMIC DEVELOPMENT NEGOTIATIONS. Discussion and deliberation regarding commercial or financial information that the Board has received from business prospects that that the Board seeks to have locate , stay, or expand in or near the City of Georgetown, and with which the Board is conducting economic development negotiations , and deliberation of the offer of a financial or other incentive to a business prospect that the Board seeks to have locate , stay, or expand in or near the City of Georgetown , and with which the Board is conducting economic development negotiations. C.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. REGULAR SESSION: D.Action from Executive Session . D-1.Discussion and possible action to approve a resolution regarding "Project Shawn" – Paul Brandenburg, General Manager and Mark Thomas, Director of Economic Development D-2.Discussion and possible action regarding the purchase of a computer model/software called "Economic Analysis Computer Model for Georgetown, Texas" from "Impact Datasources” relating to the calculation of the Return on an Investment (ROI) at a cost of approximately $4,250.00 – Paul Brandenburg, General Manager and Mark Thomas, Director of Economic Development E.Consideration and approval of the minutes from the Regular Board Meeting held Tuesday, December 13, 2005 – Farley Snell, Secretary F.Consideration and possible action to Establish Terms of Office -- Paul E. Brandenburg, General Manager G.Review of the December 31, 2005 financial report, and discussion and possible action or direction to the General Manger and the Finance Manager for developing an interim budget for 2006 - Micki Rundell, Finance Manager H.Discussion regarding HB 914 regarding Conflicts Disclosure Statement for Local Government Officers and Conflict of Interest Questionnaire for Vendors – Patricia E. Carls, City Attorney I.Discussion and possible action to set date for next Corporation meeting for Monday, February 20, 2006 at 2:00pm. J.Adjourn. Certificate of Posting I, Sandra Lee, City Secretary for the City of Georgetown, Texas, do hereby certify that this Notice of Meeting was posted at City Hall, 113 E. 8th Street, a place readily accessible to the general public at all times, on the _____ day of _________________, 2006, at __________, and remained so posted for at least 72 continuous hours preceding the scheduled time of said meeting. __________________________________ Sandra Lee, City Secretary January 23, 2006/GEDCO Minutes Page 58 of 61 Minutes of the Meeting of the Georgetown Economic Development Corporation and the Governing Body of the City of Georgetown, Texas Monday, January 23, 2006 The Georgetown Economic Development Corporation of the City of Georgetown, Texas, met on Monday, January 23, 2006. Members Present: Ron Shelly, Rick Smith, Farley Snell, Ben Oliver Members Absent: Henry Carr Staff Present: Paul E. Brandenburg, General Manager, Micki Rundell, Finance Manager, Mark Thomas, Director of Economic Development, George Gomez, Economic Development Program Specialist, Shirley Rinn, Deputy City Secretary, Patricia E. Carls, City Attorney Minutes Regular Meeting Call to Order at 02:00 PM Meeting was called to order at 2:00 p.m. 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. Recessed at 2:02 p.m. into Executive Session 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: A.Section 551.072. DELIBERATION REGARDING REAL PROPERTY Discussion and deliberation regarding the purchase , exchange, lease, or value of real property for economic development purposes. B.Section 551.087. DELIBERATION REGARDING ECONOMIC DEVELOPMENT NEGOTIATIONS. January 23, 2006/GEDCO Minutes Page 59 of 61 Discussion and deliberation regarding commercial or financial information that the Board has received from business prospects that that the Board seeks to have locate , stay, or expand in or near the City of Georgetown, and with which the Board is conducting economic development negotiations , and deliberation of the offer of a financial or other incentive to a business prospect that the Board seeks to have locate , stay, or expand in or near the City of Georgetown , and with which the Board is conducting economic development negotiations. C.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 in Regular Session at 3:12 p.m. REGULAR SESSION: D.Action from Executive Session . D-1.Discussion and possible action to approve a resolution regarding "Project Shawn" – Paul Brandenburg, General Manager and Mark Thomas, Director of Economic Development Motion by Snell second by Smith to approve a resolution regarding "Project Shawn" Approved 4-0. D-2.Discussion and possible action regarding the purchase of a computer model/software called "Economic Analysis Computer Model for Georgetown, Texas" from "Impact Datasources” relating to the calculation of the Return on an Investment (ROI) at a cost of approximately $4,250.00 – Paul Brandenburg, General Manager and Mark Thomas, Director of Economic Development Discussion regarding the model and its uses. Further discussion whether this should be a City Council expense vs . a 4A Board expense since it would be utilized by the City and not just the 4A Board. Motion by Oliver second by Smith to direct the General Manager to approach the City Manager to pay for this expenditure. There was a clarification that this item relates specifically to the cost of this software and further discussion regarding training, support, etc. for the software. There was additional discussion regarding the parameters of the software and what it could provide. Approved 4-0. E.Consideration and approval of the minutes from the Regular Board Meeting held Tuesday, December 13, 2005 – Farley Snell, Secretary January 23, 2006/GEDCO Minutes Page 60 of 61 Motion by Snell second by Oliver to approve of the minutes from the Regular Board Meeting held Tuesday, December 13, 2005. Approved 4-0. F.Consideration and possible action to Establish Terms of Office -- Paul E. Brandenburg, General Manager Motion by Oliver, second by Shelly to Establish Terms of Office as follows: 2007 - Henry Carr 2007 - Rick C. Smith 2008 - Ron Shelly 2008 - Ben Oliver 2008 - Farley Snell Approved 4-0. G.Review of the December 31, 2005 financial report, and discussion and possible action or direction to the General Manger and the Finance Manager for developing an interim budget for 2006 - Micki Rundell, Finance Manager Rundell gave the Board an overview of the draft GEDCO five-year proposed budget format. She told the Board that this information will be provided to the Board on a regular basis. There was additional discussion regarding what needs to be done to get something before the Board to determine a strategy or basis for making decisions, as well as discussion regarding the current Economic Development Action Plan and how it can be utilized. Brandenburg informed the Board that the Action Plan is in the process of being updated. Shelly indicated that he would like an item brought before the Board in March or April to discuss investment strategies that the Board can utilize to make decisions. Rundell told the Board that she would present a Budget at the next Board Meeting. H.Discussion regarding HB 914 regarding Conflicts Disclosure Statement for Local Government Officers and Conflict of Interest Questionnaire for Vendors – Patricia E. Carls, City Attorney Trish Carls addressed the Board about the new requirements mandated by the State Legislature. She told them that the Sales Tax Training they attended in December does not count toward the training requirements for Open Meetings and Open Records now mandated by the state. She told the Board that they would need to attend both the Sales January 23, 2006/GEDCO Minutes Page 61 of 61 Tax Training, as well as the Open Meetings and Open Records trainings . The Board was told that there would be a training session available for them to attend on February 22, 2006 at 6:00pm in the City Council Chambers at the annual Boards & Commissions' new member orientation if they wanted to attend. She also told them they could obtain the training online if they would prefer to meet the requirements in that venue. She went on to briefly discuss the requirements under House Bill 914 regarding Conflicts Disclosure Statement for Local Government Officers and Conflict of Interest Questionnaire for Vendors. I.Discussion and possible action to set date for next Corporation meeting for Monday, February 20, 2006 at 2:00pm. The next meeting was sent for Monday, February 20, 2006 at 2:00pm. J.Adjourn. Motion by Oliver, second by Snell to Adjourn. The Meeting was adjourned at 3:40 p.m. Attest: ___________________________________________________________ Shirley Rinn , Deputy City SecretaryFarley Snell, Secretary