Loading...
HomeMy WebLinkAboutGEDCO_Agenda&Minutes_2007Notice of Meeting of the Georgetown Economic Development Corporation and the Governing Body of the City of Georgetown, Texas Monday, December 17, 2007 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, December 17, 2007 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, Rick Smith, Ron Shelly, Pat Berryman 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. ADiscussion and possible action regarding the Project Progress Report. -- Mark Thomas, Economic Development Director and Paul E. Brandenburg, General Manager B.Consideration and approval of the minutes from the Regular Board Meeting held Monday, November 19, 2007--Farley Snell, Secretary C.Consideration of the November 30, 2007 Financial Report--Micki Rundell, Finance Manager 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: D.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. E.Section 551.087. DELIBERATION REGARDING ECONOMIC DEVELOPMENT NEGOTIATIONS. Deliberation regarding commercial or financial information that the corporation has received from a business prospect that the Georgetown Economic Development Corporation seeks to have locate, stay, or expand in or near the territory of the City of Georgetown and with which the Corporation is conducting economic development negotiations; and/or deliberation regarding the offer of a financial or other incentive to a business prospect that the Corporation seeks to have locate, stay, or expand in or near the territory of the City of Georgetown. - Project Power F. 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. G.Action from Executive Session. 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 _________________, 2007, at __________, and remained so posted for at least 72 continuous hours preceding the scheduled time of said meeting. __________________________________ Sandra Lee, City Secretary Notice of Meeting of the Georgetown Economic Development Corporation and the Governing Body of the City of Georgetown, Texas Monday, November 19, 2007 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 19, 2007 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, Rick Smith, Ron Shelly, Pat Berryman 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. ADiscussion and possible action regarding the Project Progress Report. -- Mark Thomas, Economic Development Director and Paul E. Brandenburg, General Manager B.Consideration and approval of the minutes from the Regular Board Meeting held Monday, September 17, 2007--Farley Snell, Secretary C.Consideration of the September 30, 2007 and October 31, 2007 Financial Reports--Micki Rundell, Finance Manager D. Discussion and possible action to approve a revised Resolution and Performance Agreement regarding Airborn, Inc. – Mark Thomas, Director of Economic Development EXECUTIVE SESSION: The Georgetown Economic Development Corporation will meet in closed executive session as allowed by Texas Open Meetings Act (Texas Government Code Chapter 551), as follows: F.Section 551.072. DELIBERATION REGARDING REAL PROPERTY Discussion and possible action to deliberate the purchase , exchange, lease or value of real property for purposes authorized by 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. G.Section 551.087. DELIBERATION REGARDING ECONOMIC DEVELOPMENT NEGOTIATIONS. Deliberation regarding commercial or financial information that the corporation has received from a business prospect that the Georgetown Economic 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. H.Section 551.071. CONSULTATION WITH ATTORNEY Consultation with attorney regarding legal issues related to agenda items and other matters in which the duty of the attorney to the Georgetown Economic Development Corporation under the 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. I.Action from Executive Session. 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 _________________, 2007, 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 19, 2007 The Georgetown Economic Development Corporation of the City of Georgetown, Texas, met on Monday, November 19, 2007. Members Present: Ron Shelly, Ben Oliver, Farley Snell, Pat Berryman, Rick Smith, Pat Berryman Members Absent: Farley Snell Staff Present: Paul Brandenburg, General Manager, Micki Rundell, Finance Manager, Mark Thomas, Economic Development Director, Trish Carls, City Attorney, Shirley Rinn, Executive Assistant Minutes Regular Meeting The Meeting was called to order at 2:05 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. ADiscussion and possible action regarding the Project Progress Report. -- Mark Thomas, Economic Development Director and Paul E. Brandenburg, General Manager Thomas gave the Board an overview of all of the active projects that the GEDCO Board approved, including Citicorp, Vista Solutions, Airborn, TLCC, Orthopuetics, and other biotech companies . Thomas told the board that the waterline is in at Citicorp, and that we have found out that At&T will be placing fiber into the area of Citicorp, which will place the City in a really good position to land another datacenter. Thomas also told the Board that the water line is completed behind the Loading Dock, but that there were still some other issues that the City was trying to resolve with the Loading Dock. He also gave them an overview of the timeline related to Airborn. He went on to tell the Board that Orthopuetics has signed the Performance Agreement and are very grateful that the City worked with them to finalize the agreement. There was a brief discussion regarding interest in TLCC Facility. B.Consideration and approval of the minutes from the Regular Board Meeting held Monday, September 17, 2007--Farley Snell, Secretary Motion byOliver, second by Smith to approve the minutes from the Regular Board Meeting held Monday, August 27, 2007. Approved 3-0 (Snell and Berryman absent) C.Consideration of the September 30, 2007 and October 31, 2007 Financial Reports--Micki Rundell, Finance Manager Rundell presented the Financial Reports 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, including bond issuance and debt. She also told the Board that a quarterly investment report is included in the documentation provided to them. There was also a brief discussion of investment policy and procedure, as well as a discussion regarding the funds available for GEDCO use. The Board also discussed ways to make the financial reporting more meaning to the Board. Rundell told the Board she would provide a reconciliation statement to help the Board better understand the financial reporting provided to the Board. Rundell also gave the Board an overview of the amounts that the GEDCO Board would be paying to Vista Solutions and Orthorpuetics as long as they meet their job numbers . D. Discussion and possible action to approve a revised Resolution and Performance Agreement regarding Airborn, Inc. – Mark Thomas, Director of Economic Development. Thomas gave the Board an overview of Airborn's plans for expansion. He told the Board the City has been working with Airborn since April regarding this project. He told the Board that GEDCO had already approved the Performance Agreement, however, that Airborn requested some additional changes in the Performance Agreement related to the job schedule and the clawback provisions of the Agreement. Thomas gave the Board an overview of the provisions in the proposed Performance Agreement . There was a brief discussion regarding the Tax Abatement Agreement being considered by the City Council , as well as Tax Abatements in general in relation to the County and the School District. There was further discussion regarding utility incentives available for the City to use to attract business. Pat Berryman arrived at 2:45 p.m. Thomas went through the changes in the Performance Agreement. Motion by Smith, second by Oliver to approve a Resolution and Performance Agreement regarding Airborn, Inc. Approved (4-0) (Snell absent) Smith added that he'd like to some point in the future discuss a way for companies to calculate full time equivalent jobs. EXECUTIVE SESSION: The Georgetown Economic Development Corporation will meet in closed executive session as allowed by Texas Open Meetings Act (Texas Government Code Chapter 551), as follows: F.Section 551.072. DELIBERATION REGARDING REAL PROPERTY Discussion and possible action to deliberate the purchase , exchange, lease or value of real property for purposes authorized by 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. G.Section 551.087. DELIBERATION REGARDING ECONOMIC DEVELOPMENT NEGOTIATIONS. Deliberation regarding commercial or financial information that the corporation has received from a business prospect that the Georgetown Economic 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. H.Section 551.071. CONSULTATION WITH ATTORNEY Consultation with attorney regarding legal issues related to agenda items and other matters in which the duty of the attorney to the Georgetown Economic Development Corporation under the 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. I.Action from Executive Session. There were no items to discuss in Executive Session. The meeting was adjourned at 2:55 p.m. Attest: __________________________________________________________ Farley Snell, Corporate SecretaryRon Shelly, President Notice of Meeting of the Georgetown Economic Development Corporation and the Governing Body of the City of Georgetown, Texas Monday, September 17, 2007 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 17, 2007 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, Rick Smith, Ron Shelly, Pat Berryman 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. ADiscussion and possible action regarding the Project Progress Report. -- Mark Thomas, Economic Development Director and Paul E. Brandenburg, General Manager B.Consideration and approval of the minutes from the Regular Board Meeting held Monday, August 27, 2007--Farley Snell, Secretary C.Consideration of the August 31, 2007 Financial Report--Micki Rundell, Finance Manager D. Discussion and possible action to approve an Amended Resolution and Performance Agreement regarding Orthopeutics, L.P. – Paul Brandenburg, General Manager and Mark Thomas, Director of Economic Development E. Discussion and possible action to approve a Resolution and Performance Agreement regarding Airborn, Inc. – Paul Brandenburg, General Manager and Mark Thomas, Director of Economic Development EXECUTIVE SESSION: The Georgetown Economic Development Corporation will meet in closed executive session as allowed by Texas Open Meetings Act (Texas Government Code Chapter 551), as follows: F.Section 551.072. DELIBERATION REGARDING REAL PROPERTY Discussion and possible action to deliberate the purchase , exchange, lease or value of real property for purposes authorized by 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. G.Section 551.087. DELIBERATION REGARDING ECONOMIC DEVELOPMENT NEGOTIATIONS. Deliberation regarding commercial or financial information that the corporation has received from a business prospect that the Georgetown Economic 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. H.Section 551.071. CONSULTATION WITH ATTORNEY Consultation with attorney regarding legal issues related to agenda items and other matters in which the duty of the attorney to the Georgetown Economic Development Corporation under the 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. I.Action from Executive Session. 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 _________________, 2007, 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, September 17, 2007 The Georgetown Economic Development Corporation of the City of Georgetown, Texas, met on Monday, September 17, 2007. Members Present: Rick Smith, Ben Oliver, Pat Berryman, Farley Snell Members Absent: Ron Shelly Staff Present: Paul Brandenburg, General Manager, Micki Rundell, Finance Manager, Mark Thomas, Economic Development Director, Shirley Rinn, Executive Assistant to the City Manager, George Gomez, Economic Development Program Specialist Minutes Regular Meeting Meeting was called to order by Ben Oliver, Vice President at 2:00pm 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. ADiscussion and possible action regarding the Project Progress Report. -- Mark Thomas, Economic Development Director and Paul E. Brandenburg, General Manager Thomas gave the Board an overview of all of the active projects that the GEDCO Board approved, including Citicorp, Vista Solutions, Airborn, TLCC, Orthopuetics, and other biotech companies . He gave the Board an update on the closure of the Loading Dock. He told the Board that the business is being purchased by another group, but that the Boyington's are still going to own the building. He told them that they are going to work with the new owners to see if they are interested in entering into the same type of Performance Agreement. The Board indicated that it would like staff to try the best it could to work out something with the Boyington's and the new owners. B.Consideration and approval of the minutes from the Regular Board Meeting held Monday, August 27, 2007--Farley Snell, Secretary Motion by Snell, second by Smith to approve the minutes from the Regular Board Meeting held Monday, August 27, 2007. Approved 4-0 (ShellyAbsent) C.Consideration of the August 31, 2007 Financial Report--Micki Rundell, Finance Manager Rundell presented the Financial Report to the Board and explained the details in the report, which included monthly sales tax revenues, monthly expenditures, a budgetary report, and other relevant financial information, including bond issuance and debt. Short discussion regarding format of budget documentation provided by Rundell. D. Discussion and possible action to approve an Amended Resolution and Performance Agreement regarding Orthopeutics, L.P. – Paul Brandenburg, General Manager and Mark Thomas, Director of Economic Development Brandenburg explained the changes that were made to the Performance Agreement based on instructions from the GEDCO Board from the last Board Meeting . He told the Board that Orthopeutics was in agreement with the terms. Motion by Snell, second by Berryman to approve an Amended Resolution and Performance Agreement regarding Orthopeutics, L.P. Approved (4-0) (Shelly - Absent) E. Discussion and possible action to approve a Resolution and Performance Agreement regarding Airborn, Inc. – Paul Brandenburg, General Manager and Mark Thomas, Director of Economic Development Thomas gave the Board an overview of the terms of the Performance Agreement. The Board clarified that Airborn would have to meet its capital investment requirements prior to grant monies being expended. There was additional discussion regarding timing of the project. Motion by Snell, second by Oliver to approve a Resolution and Performance Agreement regarding Airborn, Inc., if the terms of the Agreement are acceptable to Airborn, Inc. Approved (4-0) (Shelly Absent) EXECUTIVE SESSION: The Georgetown Economic Development Corporation will meet in closed executive session as allowed by Texas Open Meetings Act (Texas Government Code Chapter 551), as follows: F.Section 551.072. DELIBERATION REGARDING REAL PROPERTY Discussion and possible action to deliberate the purchase , exchange, lease or value of real property for purposes authorized by 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 . G.Section 551.087. DELIBERATION REGARDING ECONOMIC DEVELOPMENT NEGOTIATIONS. Deliberation regarding commercial or financial information that the corporation has received from a business prospect that the Georgetown Economic 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. H.Section 551.071. CONSULTATION WITH ATTORNEY Consultation with attorney regarding legal issues related to agenda items and other matters in which the duty of the attorney to the Georgetown Economic Development Corporation under the 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. I.Action from Executive Session. There were no items to discuss in Executive Session. Meeting was adjourned at 2:30 p.m. Attest: __________________________________________________________ Farley Snell, Corporate SecretaryBen Oliver,Vice-President Notice of Meeting of the Georgetown Economic Development Corporation and the Governing Body of the City of Georgetown, Texas Monday, August 27, 2007 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, August 27, 2007 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, Rick Smith, Ron Shelly, Pat Berryman 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. ADiscussion and possible action regarding the Project Progress Report. -- Mark Thomas, Economic Development Director and Paul E. Brandenburg, General Manager B.Consideration and approval of the minutes from the Regular Board Meeting held Monday, July 16, 2007--Farley Snell, Secretary C.Consideration of the July 31, 2007 Financial Report--Micki Rundell, Finance Manager D. Discussion and action regarding the terms for a Performance Agreement for Orthopeutics, L.P.– Paul Brandenburg, General Manager and Mark Thomas, Director of Economic Development 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: E.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. F.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. G.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. H.Action from Executive Session. 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 _________________, 2007, at __________, and remained so posted for at least 72 continuous hours preceding the scheduled time of said meeting. __________________________________ Sandra Lee, City Secretary Notice of Meeting of the Georgetown Economic Development Corporation and the Governing Body of the City of Georgetown, Texas Monday, July 16, 2007 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 16, 2007 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, Rick Smith, Ron Shelly, Pat Berryman 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. ADiscussion and possible action regarding the Project Progress Report. -- Mark Thomas, Economic Development Director and Paul E. Brandenburg, General Manager B.Consideration and approval of the minutes from the Regular Board Meeting held Monday, June 18, 2007--Farley Snell, Secretary C.Consideration of the June 30, 2007 Financial Report--Micki Rundell, Finance Manager D.Consideration and possible action regarding the Administrative Services Contract between the City of Georgetown and the Georgetown Economic Development Corporation. Micki Rundell, Finance Manager E.Consideration and possible action to approve the GEDCO 2007/08 Budget. Micki Rundell, Finance Manager F.Consideration and possible action to determine project eligibility for GEDCO funding for elements of the Georgetown Housing Authority’s Sierra Ridge Project . --Tom Yantis, Assistant City Manager G. Discussion and possible action regarding revisions to the Resolution and Performance Agreement for Orthopuetics L.P.--– Paul Brandenburg, General Manager and Mark Thomas, Director of Economic Development 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: H.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. I.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. J.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. K.Action out of Executive Session. 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 _________________, 2007, at __________, and remained so posted for at least 72 continuous hours preceding the scheduled time of said meeting. __________________________________ Sandra Lee, City Secretary Notice of Meeting of the Georgetown Economic Development Corporation and the Governing Body of the City of Georgetown, Texas Wednesday, June 27, 2007 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 Wednesday, June 27, 2007 beginning at 11:00 AM in the for a Bus Tour of Retail and Commerical Property in Georgetown If you need accommodations for a disability, please notify the city in advance. Georgetown Economic Development Corporation Members: Ben Oliver, Farley Snell, Ron Shelly, Pat Berryman, Rick Smith Call to Order at 11:00 AM NOTICE OF MEETING OF THE GEORGETOWN CITY COUNCIL, THE GEORGETOWN ECONOMIC DEVELOPMENT CORPORATION, GEORGETOWN ECONOMIC DEVELOPMENT ADVISORY BOARD, AND THE GEORGETOWN TRANSPORTATION ENHANCEMENT CORPORATION In response to an invitation, the above groups may attend the following event: Bus Tour of Retail and Commercial Property Wednesday, June 27, 2007 Morning Tour Bus leaves at 11:00 a.m. Afternoon Tour Bus leaves at 2:00 p.m. from the southeast corner of the parking lot of Wolf Ranch Town Center (near the fountain) The tour will highlight the available retail and commercial properties in Georgetown, including: Lake Aire Shopping Center, The Rivery Center, Wolf Ranch Town Center, the Albertsons’ Building, the North Gateway to Downtown, and the Williams Drive Corridor. A barbeque lunch will be served at 12 noon. (RSVP needed to Tina Dunbar at Georgetown Economic Development 930-3546) Notice is hereby given that the Georgetown City Council, Georgetown Economic Development Corporation and Georgetown Economic Development Advisory board have been invited and may attend the above-referenced function on Wednesday, June 27, 2007 at the above-referenced times and location. No official action will be taken. CERTIFICATE OF POSTING I, Sandra D. 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 __________________, 2007, at __________, and remained so posted for at least 72 continuous hours preceding the scheduled time of said meeting. ____________________________________ Sandra D. Lee, City Secretary 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 _________________, 2007, at __________, and remained so posted for at least 72 continuous hours preceding the scheduled time of said meeting. __________________________________ Sandra Lee, City Secretary GEDCO Agenda/June 18, 2007 Page 21 of 38 Notice of Meeting of the Georgetown Economic Development Corporation and the Governing Body of the City of Georgetown, Texas Monday, June 18, 2007 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, June 18, 2007 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, Pat Berryman, 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. ADiscussion and possible action regarding the Project Progress Report. -- Mark Thomas, Economic Development Director and Paul E. Brandenburg, General Manager B.Consideration and approval of the minutes from the Regular Board Meeting held Monday, May 21, 2007--Farley Snell, Secretary C.Consideration of the May 31, 2007 Financial Report--Micki Rundell, Finance Manager D.Discussion and possible action to approve a Resolution and Performance Agreement regarding Orthopeutics, L.P. – Paul Brandenburg, General Manager and Mark Thomas, Director of Economic Development 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: E.Section 551.072. DELIBERATION REGARDING REAL PROPERTY GEDCO Agenda/June 18, 2007 Page 22 of 38 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. F.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. G.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. G.Action from Executive Session. 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 _________________, 2007, at __________, and remained so posted for at least 72 continuous hours preceding the scheduled time of said meeting. __________________________________ Sandra Lee, City Secretary Notice of Meeting of the Georgetown Economic Development Corporation and the Governing Body of the City of Georgetown, Texas Monday, May 21, 2007 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 21, 2007 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 out of Executive Session E.Consideration and approval of the minutes from the Regular Board Meeting held Monday, April 16, 2007--Farley Snell, Secretary F.Consideration of the April 30, 2007 Financial Report--Micki Rundell, Finance Manager G.Discussion and possible action regarding the Project Progress Report. -- Mark Thomas, Economic Development Director and Paul E. Brandenburg, General 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 _________________, 2007, 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 21, 2007 The Georgetown Economic Development Corporation of the City of Georgetown, Texas, met on Monday, May 21, 2007. Members Present: Ron Shelly, Rick Smith, Ben Oliver, Farley Snell Members Absent: Henry Carr Staff Present: Paul E. Brandenburg, General Manager, Micki Rundell, Finance Manager, Shirley Rinn, Executive Assistant/Deputy City Secretary, Mark Thomas, Director of Economic Development, George Gomez, Economic Development 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. and 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 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 Meeting was reconvened at 2:47 p.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. D.Action out of Executive Session Motion by Oliver second by Snell to authorize staff move forward to commit $20,000 to support the project discussed in executive session in a legally acceptable way. Approved 4-0 (Carr Absent) E.Consideration and approval of the minutes from the Regular Board Meeting held Monday, April 16, 2007--Farley Snell, Secretary Motion by Snell, second by Smith to approve the minutes from the Regular Board Meeting held Monday, April 16, 2007. Approved 4-0 (Carr Absent) F.Consideration of the April 30, 2007 Financial Report--Micki Rundell, Finance Manager Rundell presented the Financial Report to the Board and explained the details in the report, which included monthly sales tax revenues, monthly expenditures, a budgetary report, and other relevant financial information. Rundell also told the Board that she would be bringing the Administrative Contract for Services to the Board at its next meeting for the 2007-08 Fiscal Year. She told them that the cost would increase and that staff does track its time for budgeting purposes. G.Discussion and possible action regarding the Project Progress Report. -- Mark Thomas, Economic Development Director and Paul E. Brandenburg, General Manager Thomas gave the Board an overview of the status of the approved projects, including the Loading Dock, Vista Solutions, and Citicorp. Brandenburg told the Council that one of the items that has come up with Citicorp was the need to redesign and move the road so that it wouldn't destroy a large stand of trees at the City's cost. In order to accomplish this it has been necessary to work with County and the landowners in order to negotiate an agreement to design the road so that the road wouldn't destroy the trees. There was additional discussion regarding intent of the project update report. The Board indicated that it would like to see an active/inactive list regarding projects that have been brought to the board for discussion . Meeting Adjourned at 3:00 p.m. Attest: __________________________________________________________ Farley Snell, Corporate SecretaryRon Shelly, President Notice of Meeting of the Georgetown Economic Development Corporation and the Governing Body of the City of Georgetown, Texas Monday, March 19, 2007 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 19, 2007 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 possible action to elect officers to include President, Vice-President and Secretary—Paul E. Brandenburg, General Manager E.Consideration and approval of the minutes from the Regular Board Meeting held Monday, February 19, 2007--Farley Snell, Secretary F.Consideration of the February 28, 2007 Financial Report--Micki Rundell, Finance Manager G.Discussion related to documents and procedures for the issuance of Sales Tax Revenue Bonds, Series 2007. Micki Rundell, Finance Manager H.Discussion and possible action regarding the Project Progress Report. -- Mark Thomas, Economic Development Director and Paul E. Brandenburg, General 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 _________________, 2007, 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 19, 2007 The Georgetown Economic Development Corporation of the City of Georgetown, Texas, met on Monday, March 19, 2007. Members Present: Ron Shelly, Rick Smith, Ben Oliver Members Absent: Farley Snell, Henry Carr Staff Present: Paul E. Brandenburg, General Manager, Micki Rundell, Finance Manager, Shirley Rinn, Executive Assistant/Deputy City Secretary, Mark Thomas, Director of Economic Development, Trish Carls, City Attorney, Carol Palumbo, Bond Attorney, George Gomez, Economic Development 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. and recessed into executive session 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 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. Adjourned out of Executive Session at 2:15 p.m. Reconvened in Regular Session at 2:15 p.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. Action out of Executive Session Motion by Oliver, second by Smith to move forward with the issuance of utility revenue bonds being repaid through GEDCO Sales Tax Revenues. Approved 3-0 (Carr and Snell Absent). D.Consideration and possible action to elect officers to include President, Vice-President and Secretary—Paul E. Brandenburg, General Manager Motion by Smith, second by Oliver to leave the current officers in their current positions. Approved 3-0 (Carr and Snell Absent). E.Consideration and approval of the minutes from the Regular Board Meeting held Monday, February 19, 2007--Farley Snell, Secretary Motion by Oliver, second by Smith to approve the minutes from the Regular Board Meeting held Monday, February 19, 2007. Approved 3-0 (Carr and Snell Absent) F.Consideration of the February 28, 2007 Financial Report--Micki Rundell, Finance Manager Rundell gave the Board an overview of the Financial Reports, including monthly sales tax revenues, monthly expenditures, budgetary report, and other relevant financial information. Rundell told the Board that sales tax continues to exceed expectations. Rundell acknowledged that the initial projections were conservative and she and Brandenburg explained to the board the benefit of having conservative projections. Additional discussion regarding Wolf Ranch sales tax revenues and the impact of Highway 29 and the Outlet mall on its sales tax projections. Rundell also told the Board that Hope Lumber is the largest sales tax producer in Georgetown, which could have an impact if there is a downturn in the economy. There was also discussion regarding the new Movie Theatre. Rundell told the Board that the City had purchased its first Security for GEDCO and she explained the methodology of the Trade Settlement for Security Transactions for GEDCO. Rundell and Brandenburg also informed the Board that Hope Lumber's check was also delivered to them and that Hope was very pleased with the outcome. Brandenburg reiterated that while recruitment of new business is important retention of existing business is also important. G.Discussion related to documents and procedures for the issuance of Sales Tax Revenue Bonds, Series 2007. Micki Rundell, Finance Manager This item was discussed in Executive Session. Action was taken out of Executive Session. H.Discussion and possible action regarding the Project Progress Report. -- Mark Thomas, Economic Development Director and Paul E. Brandenburg, General Manager Thomas updated the board regarding the business operations of Hope Lumber and the City's relationship with the company, as well as the business situation regarding Airborne, and Citicorp's construction progress. Thomas also told the Board that Vista Solutions will be measured in September to see if the required jobs have been created and gave them an update on the waterline for The Loading Doc, as well as providing information about a Biotech company that is interested in Georgetown, and also informed the Board that the City Council voted not to pursue Project Fortress because of the amount of debt that would be required by the City to pursue this project. There was additional discussion by the Board regarding the impact of the electric usage by Citicorp, the Outlet Mall and the Hospital, as well as discussion regarding the impact of medical research/biomedical projects on economic development in the area. The Meeting was adjourned at 2:46 p.m. Attest: ___________________________________________________________ Ron Shelly, President Farley Snell, Corporate Secretary Notice of Meeting of the Georgetown Economic Development Corporation and the Governing Body of the City of Georgetown, Texas Monday, February 19, 2007 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 19, 2007 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 Tuesday, December 12, 2006--Farley Snell, Secretary E. Consideration of the December 31, 2006 and January 31, 2007 Financial Report---Micki Rundell, Finance Manager F.Discussion and possible action to approve a Resolution and Amended Performance Agreement regarding Hope Lumber – Paul Brandenburg, General Manager and Mark Thomas, Director of Economic Development G.Discussion and possible action to make recommendations to the City Council regarding the review of the City of Georgetown’s current Principles for Economic Development Incentives --Paul E. Brandenburg, General Manager H.Discussion and possible action regarding the Project Progress Report and timelines (including but not limited to items listed). -- Mark Thomas, Economic Development Director and Paul E. Brandenburg, General 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 _________________, 2007, 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, February 19, 2007 The Georgetown Economic Development Corporation of the City of Georgetown, Texas, met on Monday, February 19, 2007. Members Present: Ron Shelly, President, Farley Snell, Corporate Secretary, Rick Smith, Ben Oliver, Vice-President Members Absent: Staff Present: Paul Brandenburg, General Manager, Mark Thomas, Director of Economic Development, Shirley Rinn, Deputy City Secretary, George Gomez, Economic Development Program Specialist, Micki Rundell, Finance Manager Minutes Regular Meeting The Board Meeting was called to order at 2:00pm. 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 Tuesday, December 12, 2006--Farley Snell, Secretary Motion by Snell, second by Smith 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 December 31, 2006 and January 31, 2007 Financial Report---Micki Rundell, Finance Manager Rundell gave the Board an overview of the Financial Reports, including monthly sales tax revenues, monthly expenditures, budgetary report, and other relevant financial information. She also told them that the December revenue was considerably higher than the previous year, which will be included in the next Financial Report. The Board discussed the sales tax trends and what we can expect in the future. They also went over the project list and disbursement timelines. Rundell also told the board that the City would be issuing Sales tax revenue bonds. F.Discussion and possible action to approve a Resolution and Amended Performance Agreement regarding Hope Lumber – Paul Brandenburg, General Manager and Mark Thomas, Director of Economic Development Brandenburg gave the Board an overview of this item. He told them that the GEDCO Board and the City Council initially approved the Performance Agreement. However, Hope Lumber had some additional revisions to clarify the agreement. The GEDCO Board is being asked to approve an Amended Resolution and Amended Performance Agreement , which will then be presented to the City Council for its approval. He told the Board that the amendments do not affect the amount granted by the board or the claw back provisions. It was clarified the amount granted by the GEDCO Board is $18,410.00. Motion Snell, second by Oliver to approve a Resolution and Amended Performance Agreement regarding Hope Lumber . Approved 5-0. Shelly commented that several of the agreements that have been approved have been done "after the fact". He wants to make sure that in the future there is a better process so these types of agreements can be accomplished in a more systematic manner. G.Discussion and possible action to make recommendations to the City Council regarding the review of the City of Georgetown’s current Principles for Economic Development Incentives --Paul E. Brandenburg, General Manager Brandenburg gave the Board an overview of this item. He told the Board that the City Council would like to have a better definition of the process involved in economic development and the tools available to accommodate it. He told them that the City Council has requested that the GTEC, GUS, EDAB, and GEDCO Board review the Principles and make recommendations regarding the process for amending the Principles.There was clarification that the Principles will be rewritten and be more narrow in scope and not so broad. Smith gave an overview of the plans and activities of the Economic Development Advisory Board. There was also discussion regarding the preparation of an Interlocal Agreement with Williamson County regarding Economic Development projects that require coordination with Williamson County. There was additional discussion regarding some of the items that the GEDCO Board would like to see included in the revised Principles, as well as discussion regarding the need for the City to not become to heavily reliant on the utility for transfers to the general fund as future economic development projects utilize the utility incentives that are available. Motion Smith, second by Snell to support the amendment of the City of Georgetown’s current Principles for Economic Development Incentives. H.Discussion and possible action regarding the Project Progress Report and timelines (including but not limited to items listed). -- Mark Thomas, Economic Development Director and Paul E. Brandenburg, General Manager Brandenburg and Thomas gave an overview and status of the projects that have been discussed with the GEDCO Board, including Project Vista, Hope Lumber, Project Shawn, Precision Machining, Citicorp, The Loading Dock, Airborne, Fallbrook, etc. Thomas also told the GEDCO Board that Economic Development is doing very well in Georgetown. He told them that after the Citicorp deal that the City of Georgetown's name is out there. The Meeting was adjourned at 3:05 p.m. Attest: ___________________________________________________________ Ron Shelly, President Farley Snell, Corporate Secretary