Loading...
HomeMy WebLinkAboutGEDCO_Agenda&Minutes_2008Notice of Meeting of the Georgetown Economic Development Corporation and the Governing Body of the City of Georgetown, Texas Monday, December 15, 2008 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 15, 2008 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, Rick Smith, Ron Shelly, Pat Berryman, Dale Ross Call to Order at 02:00 PM ADiscussion and possible action regarding the Project Progress Report, including Hope Lumber Company nka Pro-Build South, Citigroup, Vista Solutions, Loading Dock, Airborn, Orthopeutics, The Beauty Escape Salon, Texas Outdoor Power Company, and Enflite. -- 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 3, 2008 -- Ben Oliver, Secretary C. Consideration of the October 31, 2008 and November 30, 2008 Financial Reports--Micki Rundell, Finance Manager D.Acceptance of the Investment Policy for the Georgetown Economic Development Corporation (GEDCO) as amended by City Council on November 10, 2008--Micki Rundell, Director of FInance E.Acceptance of the Quarterly Investment Report for the Georgetown Economic Development Corporation (GEDCO) for the quarter ended September 30, 2008 --Micki Rundell, Finance Manager F.Discussion and possible action to approve funding to provide tenant finish out in the city owned fire station located on Main Street in downtown Georgetown. A current project, Inwood Estate winery , is considering the old Fire Station #1 as a manufacturing and retail location--Mark Thomas, Economic Development Director 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: G.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. H.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 Wireline -Project Flow I.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. J.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 _________________, 2008, 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, December 15, 2008 The Georgetown Economic Development Corporation of the City of Georgetown, Texas, met on Monday, December 15, 2008. Members Present: Rick Smith, Pat Berryman, Ben Oliver, Dale Ross Members Absent: Ron Shelly Staff Present: Paul E. Brandenburg, General Manager, Micki Rundell, Finance Manager, Leticia Zavala, Controller, Mark Thomas, Economic Development Director, Shirley J. Rinn, Deputy City Secretary, George Gomez, Economic Development Program Specialist, Trish Carls, City Attorney Minutes Regular Meeting Meeting was called to order at 2:05 p.m. ADiscussion and possible action regarding the Project Progress Report, including Hope Lumber Company nka Pro-Build South, Citigroup, Vista Solutions, Loading Dock, Airborn, Orthopeutics, The Beauty Escape Salon, Texas Outdoor Power Company, and Enflite. -- Mark Thomas, Economic Development Director and Paul E. Brandenburg, General Manager Paul Brandenburg and Mark Thomas gave the Board an overview of the status of each of these projects. B.Consideration and approval of the minutes from the Regular Board Meeting held Monday, November 3, 2008 -- Ben Oliver, Secretary Motion by Berryman , second by Oliver to approve the minutes from the Regular Board Meeting held Monday, November 3, 2008 - Approved 4-0 (Shelly Absent) C. Consideration of the October 31, 2008 and November 30, 2008 Financial Reports--Micki Rundell, Finance Manager Zavala gave the overview of the Financial Reports, focusing on the most recent one, including monthly sales tax revenues, monthly expenditures, budgetary report, and other relevant financial information. Zavala told the Board that we have not received the most recent sales tax information. She told the Board that sales collections are 8% down for October. There was discussion regarding benchmarking with other cities to gauge where the City of Georgetown is on its sales tax collections relative to those other cities. Rundell told the Board that housing starts are way down which is having an impact on sales tax collection. Rundell also told the Board that she doesn't feel like we are going to meet budget due to the downturn. She has budgeted conservatively, but still doesn't think we will make our numbers. There was additional discussion regarding retail closings in Wolf Ranch, across the region and the nation and how it could impact our area. D.Acceptance of the Investment Policy for the Georgetown Economic Development Corporation (GEDCO) as amended by City Council on November 10, 2008--Micki Rundell, Director of Finance Zavala gave the Board an overview of the Investment Policy and the changes from last year's Policy. She told the Board that the Policy had been approved by the City Council. Motion by Beryman, second Oliver to accept the Investment Policy for the Georgetown Economic Development Corporation (GEDCO) as amended by City Council on November 10, 2008. Approved 4-0 (Shelly Absent) E.Acceptance of the Quarterly Investment Report for the Georgetown Economic Development Corporation (GEDCO) for the quarter ended September 30, 2008 --Micki Rundell, Finance Manager Zavala gave the Board an overview of the Quarterly Investment Report for September 30, 2008. She also told the Board that a security would be maturing this month. F.Discussion and possible action to approve funding to provide tenant finish out in the city owned fire station located on Main Street in downtown Georgetown. A current project, Inwood Estate winery, is considering the old Fire Station #1 as a manufacturing and retail location--Mark Thomas, Economic Development Director Thomas gave the Board an overview of Inwood Estate Winery and its proposal to bring his business to Georgetown. Thomas provided the Board a 10 Pro Forma for the Company. Thomas went on to discuss the need for Georgetown to have a type of unique business niche in the downtown that makes it different from Salado, Wimberley, and Fredericksburg. There was discussion regarding the vacancies in the buildings on the square and how those vacancies can ultimately have an impact on the ability to attract prospects to the downtown. Thomas told the Board that Inwood would like to move their wholesale operation to Georgetown because they feel it will increase their visibility and retail sales. However, the move would be a challenge and that the company would need a relocation package of $250,000 that would act as a cash infusion for the company. Thomas said that the owner has indicated that if Georgetown can put together a local investment package they will come to Georgetown. Thomas told the Board that $550,000 is needed to buildout/remodel the bays of the old Fire Station #1. There was extensive discussion regarding the need of the City to do improvements to enhance the City's ability to lease the potential retail space in the Old Fire Station. This discussion included clawback provisions, the City's investment and ROI, scenarios regarding whether or not the 4A could lease the space from the City and in turn lease it to a retailer, whether or not the winery could partner with a deli/restaurant, etc. Thomas also told the Board that the timing of this winery project is important because of the need for the winery to plant vineyards as soon as possible if the project is approved. It was clarified that the 4A Board is being asked to provide funding to renovate an old building and bring it up to standard and current codes . There was additional discussion regarding the merits of this project. Motion by Berryman , second by Ross to approve 4A funding in an amount not to exceed to $550,000 to renovate the old Fire Station #1 to current standards and to authorize staff to negotiate a Performance Agreement with Inwood Winery to lease the facility contingent upon legal review. Approved 4-0 (Shelly Absent) Rundell told the Board they would still need to discuss how they would like to fund this project. Recessed into Executive Session at 2:55 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: G.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. H.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 Wireline -Project Flow I.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 3:21 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. J.Action from Executive Session There was no action out of Executive Session. Adjourned at 3:24 p.m. Attest: __________________________________________________________ Ben Oliver, Corporate SecretaryRick Smith, President Notice of Meeting of the Georgetown Economic Development Corporation and the Governing Body of the City of Georgetown, Texas Monday, November 17, 2008 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 17, 2008 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, Rick Smith, Ron Shelly, Pat Berryman, Dale Ross Call to Order at 02:00 PM A Meeting of the GEDCO Board was held on November 3, 2008, and no additional items have been submitted for consideration by the GEDCO Board for the month of November. Therefore, no meeting will be held on November 17, 2008. 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 _________________, 2008, 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 3, 2008 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 3, 2008 beginning at 03:00 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, Rick Smith, Ron Shelly, Pat Berryman, Dale Ross Call to Order at 03:00 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, including Hope Lumber Company, Citigroup, Vista Solutions, Loading Dock, Airborn, Orthopeutics, The Beauty Escape Salon, Texas Outdoor Power Company, and Enflite. -- 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 21, 2008 -- Ben Oliver, Secretary C. Consideration of the July 31, 2008, August 31, 2008, and September 30, 2008 Financial Reports--Micki Rundell, Finance Manager D.Acceptance of the Quarterly Investment Report for the Georgetown Economic Development Corporation (GEDCO) for the quarter ended June 30, 2008--Micki Rundell, Finance Manager E.Discussion and possible action to approve a Resolution consenting to the Assignment by Hope Lumber & Supply Company, L.P. to ProBuild South, L.L.C., of that Certain Performance Agreement Relating to the Maintenance of at Least Forty-Four Full Time Jobs at its Facility Until July 31, 2009; and Authorizing a Mutual Consent Agreement –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. - Precision Bio Data 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. ISec.551.074 PERSONNEL MATTERS - Economic Development Director Compensation - Paul E. Brandenburg, General Manager 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. J.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 _________________, 2008, 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, October 20, 2008 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 20, 2008 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, Rick Smith, Ron Shelly, Pat Berryman, Dale Ross Call to Order at 02:00 PM No items have been submitted for consideration by the GEDCO Board for the month of October. Therefore, no meeting will be held on October 20, 2008. 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 _________________, 2008, 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, September 15, 2008 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 15, 2008 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, Rick Smith, Ron Shelly, Pat Berryman, Dale Ross Call to Order at 02:00 PM No items have been submitted for consideration by the GEDCO Board for the month of September. Therefore, no meeting will be held. 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 _________________, 2008, 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, August 18, 2008 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 18, 2008 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: Rick Smith - President, Pat Berryman - Vice President, Ben Oliver - Secretary, Ron Shelly, Dale Ross, Paul E. Brandenburg, General Manager, Micki Rundell, Finance Manager Call to Order at 02:00 PM No items have been submitted for consideration by the GEDCO Board for the month of August. Therefore, no meeting will be held. 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 _________________, 2008, 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 21, 2008 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 21, 2008 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: Rick Smith, Ron Shelly, Ben Oliver, Pat Berryman, Dale Ross 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. A Discussion 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 19, 2008 -- Ben Oliver, Secretary C. Discussion and possible action to approve the 2008/09 Interlocal Service Agreement between GEDCO and the City for administrative services--Micki Rundell, Finance Manager D. Discussion and possible action to finalize the proposed 2008/09 GEDCO budget--Micki Rundell, Finance Manager E.Consideration of the May 31, 2008 Financial Reports--Micki Rundell, Finance Manager F.Consideration of the June 30, 2008 Financial Reports--Micki Rundell, Finance Manager GDiscussion and possible action to approve a Resolution and Performance Agreement regarding Airborn, Inc. – Paul Brandenburg, General Manager and Mark Thomas, Director of Economic Development H.Discussion and possible action to approve a Resolution and Performance Agreement regarding Enflite, 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: I.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. J.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. - RADIX Bio Solutions K.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. L.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 _________________, 2008, 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 21, 2008 The Georgetown Economic Development Corporation of the City of Georgetown, Texas, met on Monday, July 21, 2008. Members Present: Rick Smith, Ron Shelly, Dale Ross, Pat Berryman Members Absent: Ben Oliver Staff Present: Paul Brandenburg, General Manager, Micki Rundell, Chief Financial Officer, Mark Thomas, Economic Development Director, Shirley Rinn, Exective Assistant to the City Manager/Deputy City Secretary, George Gomez, Project Specialist, Leticia Zavala, Controller, Trish Carls, City Attorney 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. ADiscussion and possible action regarding the Project Progress Report. -- Mark Thomas, Economic Development Director and Paul E. Brandenburg, General Manager Thomas gave an explanation of the purpose of the progress report for the benefit of the new Boardmember, Dale Ross. Thomas gave the Board an overview of all of the active projects that the GEDCO Board approved, including Hope Lumber Company, Citicorp, Vista Solutions/Loading Dock, Airborn, TLCC, Orthopuetics, Enflite, The Beauty Escapt, TOPE, and other biotechnology companies. Board discussed removing Reliagene from the active list. B.Consideration and approval of the minutes from the Regular Board Meeting held Monday, May 19, 2008 -- Ben Oliver, Secretary Motion by Berryman, second by Shelly to approve the minutes from the Regular Board Meeting held Monday, May 19, 2008. Approved 4-0 (Oliver Absent) C. Discussion and possible action to approve the 2008/09 Interlocal Service Agreement between GEDCO and the City for administrative services--Micki Rundell, Finance Manager Rundell explained to the terms of the Interlocal Service Agreement. She told the Board that the 4A Board will be charged $5,000 for month for administrative services, which is a $1,000 increase per month from the prior year. Motion by Shelly, second by Ross to approve the 2008/09 Interlocal Service Agreement between GEDCO and the City for administrative services. Approved 4-0 (Oliver Absent) D. Discussion and possible action to finalize the proposed 2008/09 GEDCO budget--Micki Rundell, Finance Manager Rundell gave the Board an overview of the FY 2008-09 GEDCO budget the 2008/09 Interlocal Service Agreement between GEDCO and the City for administrative services. Brief discussion regarding impact of sales tax on the budget. Motion by Berryman, second by Smith to finalize the proposed 2008/09 GEDCO budget. Approved 4-0 (Oliver Absent) E.Consideration of the May 31, 2008 Financial Reports--Micki Rundell, Finance Manager Zavala gave the overview of the Financial Reports, including monthly sales tax revenues, monthly expenditures, budgetary report, and other relevant financial information. F.Consideration of the June 30, 2008 Financial Reports--Micki Rundell, Finance Manager Zavala gave the overview of the Financial Reports, including monthly sales tax revenues, monthly expenditures, budgetary report, and other relevant financial information. GDiscussion and possible action to approve a Resolution and Performance Agreement regarding Airborn, Inc. – Paul Brandenburg, General Manager and Mark Thomas, Director of Economic Development Brandenburg and Thomas gave the Board an overview of the project and the terms of the Performance Agreement. There was discussion regarding the Tax Abatement component that Council previously approved and Brandenburg and Thomas confirmed that the tax abatement was no longer on the table because it was tied to the other piece of property. Thomas introduced Michael Cuff of Airborn to the Board to answer any questions that the Board might have. There were a few questions regarding Airborn's current operations. Motion byBerryman, second by Shelly to approve a Resolution and Performance Agreement regarding Airborn , Inc. Approved 4-0. (Oliver Absent) H.Discussion and possible action to approve a Resolution and Performance Agreement regarding Enflite, Inc. – Paul Brandenburg, General Manager and Mark Thomas, Director of Economic Development Thomas gave the Board an overview of the project and the terms of the Performance Agreement. Mark explained to the Board that Enflite is a local company that is expanding and that this is a retention project for the community. He told the Board that the company originally asked for a tax abatement. However after doing a Return on Investment analysis, it was found that the abatement wasn't really a good the best tool to utilize The company has asked that it receive the funding at the point of occupation of the building, which is different from the Performance Agreements in the past where the funding wasn't provided until proof of the job creation in a year's time. There was a discussion regarding the clawback terms in the Performance Agreement. There was discussion that Enflite is talking about making an additional expansion because of their impressions of Georgetown. The particular expansion covered in this Performance Agreement is for a new product line. There was additional discussion regarding the operations of Enflite. Mark told the Board that the ROI was similar to that of Airborn. The Board indicated that it would like to see ROI analysis for each project that they review. Motion by Shelly, second by Ross to approve a Resolution and Performance Agreement regarding Enflite, Inc. Approved 3-0. (Oliver Absent) Recessed at 2:53 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: I.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. J.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. - RADIX Bio Solutions K.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 3:15 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. L.Action from Executive Session. No action out of Executive Session. Adjourned at 3:17 p.m. Attest: __________________________________________________________ Ben Oliver, Corporate SecretaryRick Smith, President Notice of Meeting of the Georgetown Economic Development Corporation and the Governing Body of the City of Georgetown, Texas Monday, June 16, 2008 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 16, 2008 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. AThe Meeting for June 16, 2008 was canceled. 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: G.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. H.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. I.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. J.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 _________________, 2008, 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 19, 2008 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 19, 2008 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, April 21, 2008-- Ben Oliver, Secretary C.Consideration of the April 30, 2008 Financial Reports--Micki Rundell, Finance Manager D. Acceptance of the Quarterly Investment Report for the Georgetown Economic Development Corporation (GEDCO) for the quarter ended March 31, 2008--Micki Rundell, Finance Manager E. Discussion and possible action to approve a Resolution, Performance Agreement, and Undocumented Worker Agreement with Texas Outdoor Power Equipment --Mark Thomas, Economic Development Director and Paul E. Brandenburg, General 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: 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 _________________, 2008, 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 19, 2008 The Georgetown Economic Development Corporation of the City of Georgetown, Texas, met on Monday, May 19, 2008. Members Present: Rick Smith, Ron Shelly, Ben Oliver Members Absent: Pat Berryman, Farley Snell Staff Present: Paul E. Brandenburg, General Manager, Leticia Zaval, Controller, Mark Thomas, Economic Development Director, Trish Carls, City Attorney, Shirley J. Rinn, Deputy City Secretary, 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. Meeting called to order at 2:05 p.m. 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/Loading Dock, Airborn, TLCC, Orthopuetics, Enflite, The Beauty Escape, TOPE, and other biotechnology companies. Thomas also gave the Board an overview of the current projects proposed at the South Industrial Park site. B.Consideration and approval of the minutes from the Regular Board Meeting held Monday, April 21, 2008-- Ben Oliver, Secretary Motion by Oliver, second by Shelly to approve the minutes from the Regular Board Meeting held Monday, April 21, 2008. Approved 3-0 (Berryman and Snell Absent) C.Consideration of the April 30, 2008 Financial Reports--Micki Rundell, Finance Manager Zavala gave the overview of the Financial Reports, including monthly sales tax revenues, monthly expenditures, budgetary report, and other relevant financial information. She did let them know that sales tax is down since January. There was a brief discussion regarding the cost of gas and its impact on sales tax revenues , as well as the City's efforts toward energy conservation. D. Acceptance of the Quarterly Investment Report for the Georgetown Economic Development Corporation (GEDCO) for the quarter ended March 31, 2008--Micki Rundell, Finance Manager Zavala gave the Board an overview of the Quarterly Investment Report. There is currently a $720,000 cash balance after payment to Citicorp and Vista Solutions. E. Discussion and possible action to approve a Resolution, Performance Agreement, and Undocumented Worker Agreement with Texas Outdoor Power Equipment --Mark Thomas, Economic Development Director and Paul E. Brandenburg, General Manager There was a brief discussion regarding the requirement of the Undocumented Worker Agreement because of state legislation. Thomas gave the Board an overview of the project. Carls clarified that the utility infrastructure is required by the City's development regulations. The Board also discussed the City's direct investment vs. its return on investment with regard to this project. The Board requested that the City keep a database on this type of investment to show the overall return on investment for projects that required the placement of the infrastructure. Additionally, the Board discussed the need for the City to stay ahead of the curve with regard to having infrastructure in place for potential employment centers in the community. They also discussed whether the 2030 plan could be used to identify areas for employment centers and then used to justifying the use of 4A funds to place infrastucture in these areas. Motion by Oliver, second by Shelly to approve a Resolution, Performance Agreement, and Undocumented Worker Agreement with Texas Outdoor Power Equipment. Approved 3-0. (Snell and Berryman Absent) Brandenburg gave the Board an heads up that the property owners want to name the road "Pat Elliott Drive " and that the City will be working with the property owners through the process established by the Council for the naming of Public Parks, Facilities and Roads. Excutive Session was not held. 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 was no Action from Executive Session. Meeting was adjourned at 3:37 p.m. Attest: __________________________________________________________ Ben Oliver, Corporate SecretaryRick Smith, President Notice of Meeting of the Georgetown Economic Development Corporation and the Governing Body of the City of Georgetown, Texas Monday, April 21, 2008 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 21, 2008 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: Ron Shelly, Ben Oliver, Farley Snell, Pat Berryman, Rick Smith 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. A.Consideration and approval of the minutes from the Regular Board Meeting held Monday, March 3, 2008 -- Ben Oliver, Secretary B.Discussion and possible action regarding the Project Progress Report. -- Mark Thomas, Economic Development Director and Paul E. Brandenburg, General Manager C.Consideration of the February 29, 2008 and March 31, 2008 Financial Reports--Micki Rundell, Finance Manager D.Discussion and possible action regarding a preliminary report and update regarding 4A Funding--Mark Thomas, Economic Development Director E. Discussion and possible action to regarding funding for a water and wastewater improvement project for Texas Outdoor Power Equipment -- Mark Thomas, Economic Development Director and Paul E. Brandenburg, General Manager F.Discussion and possible action to approve a Resolution and Performance Agreement with Kenny Nguyen DBA The Beauty Escape Salon --Mark Thomas, Economic Development Director and Paul E. Brandenburg, General 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: G.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. H.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. - Discussion and possible action regarding approval of a grant for new jobs created for an existing local manufacturing company expanding its operations. - Airborn I. 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. J.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 _________________, 2008, 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, April 21, 2008 The Georgetown Economic Development Corporation of the City of Georgetown, Texas, met on Monday, April 21, 2008. Members Present: Ron Shelly, Rick Smith, Farley Snell, Ben Oliver, Pat Berryman Members Absent: Staff Present: Paul Brandenburg, General Manager, Mark Thomas, Economic Development Director, Trish Carls, City Attorney, George Gomez, Economic Development Program Specialist, Micki Rundell, Finance Manager, Leticia Zavala, Controller, Shirley Rinn, Executive Assistant to the City Manager 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. A.Consideration and approval of the minutes from the Regular Board Meeting held Monday, March 3, 2008 -- Ben Oliver, Secretary Motion by Snell, second by Oliver to approve the minutes from the Regular Board Meeting held Monday, March 3, 2008, with corrections as noted by Rick Smith. Approved 4-0 (Berryman absent) B.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 all of the active projects that the GEDCO Board approved, including Citicorp, Vista Solutions/Loading Dock, Airborn, TLCC, Orthopuetics. Rundell noted that Vista Solutions was paid $21,000 for 7 jobs. C.Consideration of the February 29, 2008 and March 31, 2008 Financial Reports--Micki Rundell, Finance Manager Leticia Zavala gave the Board an overview of the Financial Reports, including monthly sales tax revenues, monthly expenditures, budgetary report , and other relevant financial information. The Board indicated that it would like to include status of projects on the financials as well. Rundell also noted that the City received some unanticipated sales tax revenue from Cisco for the purchase of equipment for Citicorp. D.Discussion and possible action regarding a preliminary report and update regarding 4A Funding--Mark Thomas, Economic Development Director Thomas provided information to the Board regarding what other cities are doing with regard to expenditures of 4A monies. He also provided some additional information from the Attorney General's office as well. Carls clarified that a legal analysis has not yet been done regarding the information that was provided to the Board. It was also clarified that this information was preliminary, but that staff wanted to provide the Board with the research that has been obtained to this point. There was additional discussion regarding whether a project is debt or cash funded and how that decision can impact the use of 4A monies for water/wastewater infrastructure projects. There was also additional discussion regarding the difference between "general use" and "targeted infrastructure". The Board also discussed who would decide whether a project was "targeted" or not. Additionally, there was a brief discussion regarding whether or not a 4A Board could just "award cash grants" for jobs with no capital investment. It was clarified that this Board has not awarded grant money in that fashion and that all monies granted to date have been tied to capital investment. The Board went on to discuss the procedure that GTEC uses to identify and formalize the finding of a "project". The Board indicated that it would like to see some written guidelines to refer to when making these decisions so that they don't have to continue to have extensive discussions as to whether or not something is a project or not. E. Discussion and possible action to regarding funding for a water and wastewater improvement project for Texas Outdoor Power Equipment -- Mark Thomas, Economic Development Director and Paul E. Brandenburg, General Manager Thomas provided a presentation to the Board regarding Texas Outdoor Power Equipment regarding their plans to expand their operations. He told that Board the TOPE has approached both the GEDCO and GTEC Boards and that both proposals will be presented to the Council at the same time . Thomas told the Board that TOPE has purchased a piece of property adjacent to their current location and based upon their expansion plans the City's UDC regulations requires that TOPE provide water/wastewater infrastructure to the property that has capacity to meet the future needs for the area. There was extensive discussion regarding targeted infrastructure and whether or not this project meets those criteria. There was additional discussion regarding the "triggering event" for the necessity of this water/wastewater line. Motion by Oliver, second by Shelly to direct staff to negotiate a Performance Agreement with Texas Outdoor Power Equipment for funding for the installation of a water and wastewater improvement line contingent on a staff report verifying the triggering event that necessitated the water/wastewater improvement. A friendly Amendment by Snell to make a project finding that this project is eligible for funding pursuant to the Texas Development Corporation Act of 1979 under Section 2(11)(C), which states ""Project" shall mean: expenditures found by the board of directors to be required or suitable for infrastructure necessary to promote or develop new or expanded business enterprises limited to streets and roads, rail spurs, water and sewer utilities, electric utilities, gas utilities, drainage, site improvements, and related improvements, telecommunications and Internet improvements, and beach remediation along the Gulf of Mexico" Approved 4-0 (Berryman absent). F.Discussion and possible action to approve a Resolution and Performance Agreement with Kenny Nguyen DBA The Beauty Escape Salon --Mark Thomas, Economic Development Director and Paul E. Brandenburg, General Manager Thomas gave the Board an overview of the Performance Agreement. There was discussion that the Board would prefer that in the future, projects not be presented to them after the fact for reimbursement. While they support this project and what it can do for the downtown, the proper procedure would have been for it to have been presented to the Board before the work was done. The Board is concerned about a precedent being set if it continues to approve reimbursements to support projects after the work has been completed. Motion by Oliver, second by Shelly to approve a Resolution and Performance Agreement with Kenny Nguyen DBA The Beauty Escape Salon (Resolution No. 042108-F), with the caveat that Mr. Nguyen be notified that in the future if he would like to seek 4A funding from the Board that he needs to approach the Board prior to the work being completed. Approved 4-0 (Berryman absent) Recessed into Executive Session at 3:56 p.m. Pat Berryman arrived at 4:10 p.m. Oliver left at 4:36 p.m. Recessed out of Executive Session at 4:38 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: G.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. H.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. - Discussion and possible action regarding approval of a grant for new jobs created for an existing local manufacturing company expanding its operations. - Airborn I. 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 into Regular Session at 4:38 p.m. J.Action from Executive Session. Motion by Snell, second by Shelly to direct staff to move forward with negotiating and drafting a Performance Agreement with the local manufacturing company discussed in Executive Session pursuant to the terms discussed in Executive Session. Approved 4-0 (Oliver absent) Motion Snell, second by Berryman to direct staff to draft an amended Performance Agreement with Airborn, Inc. pursuant to the terms discussed in Executive Session. The Meeting was adjourned at4:40 p.m. Attest: ___________________________________________________________ Rick Smith, President Ben Oliver, Corporate Secretary Notice of Meeting of the Georgetown Economic Development Corporation and the Governing Body of the City of Georgetown, Texas Monday, March 3, 2008 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 3, 2008 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: Ron Shelley, Rick Smith, Farley Snell, Pat Berryman, Ben Oliver 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. A.Consideration and approval of the minutes from the Regular Board Meeting held Monday, December 17, 2007--Farley Snell, Secretary B.Consideration and possible action to elect officers to include President, Vice-President and Secretary—Paul E. Brandenburg, General Manager C.Discussion and possible action regarding the Project Progress Report. -- Mark Thomas, Economic Development Director and Paul E. Brandenburg, General Manager D.Consideration of the December 31, 2007 and January 31, 2008 Financial Reports--Micki Rundell, Finance Manager E. Acceptance of the Quarterly Investment Report for the Georgetown Economic Development Corporation (GEDCO) for the quarter ended December 31, 2007--Micki Rundell, Finance Manager F.Consideration and possible action regarding wastewater line capacity increase serving the Inner Loop Road area-- Mark Thomas, Economic Development Director and Paul E. Brandenburg, General 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: G.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. H.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 Core - Downtown Project I. 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. J.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 _________________, 2008, 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 3, 2008 The Georgetown Economic Development Corporation of the City of Georgetown, Texas, met on Monday, March 3, 2008. Members Present: Ron Shelly, Rick Smith, Pat Berryman, Ben Oliver Members Absent: Farley Snell Staff Present: Paul Brandenburg, General Manager, Mark Thomas, Economic Development Director, Trish Carls, City Attorney, George Gomez, Economic Development Program Specialist, Glenn Dishong, Water Services Manager, Micki Rundell, Finance Manager, Leticia Zavala, Controller, Jim Briggs Assistant City Manager for Utility Operations, Tom Benz, System Engineer, Shirley Rinn, Executive Assistant to the City Manager 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. Called to Order at 2:10p.m. A.Consideration and approval of the minutes from the Regular Board Meeting held Monday, December 17, 2007--Farley Snell, Secretary Motion by Oliver, second by Smith to approve the minutes from the Regular Board Meeting held Monday, December 17, 2007. Approved 3-0 (Snell and Berryman absent) B.Consideration and possible action to elect officers to include President, Vice-President and Secretary—Paul E. Brandenburg, General Manager Pat Berryman arrived at 2:12 p.m. Motion by Ron Shelly, second by Berryman to nominate Rick Smith for President. Approved 4-0. Motion by Ben Oliver, second by Ron Shelly to nominate Pat Berryman as Vice President. Approved 4-0. Motion by Ben Oliver, second by Rick Smith to nominate Ben Oliver as Secretary. Approved 4-0. C.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 all of the active projects that the GEDCO Board approved, including Citicorp, Vista Solutions/Loading Dock, Airborn, TLCC, Orthopuetics, and other biotech companies. D.Consideration of the December 31, 2007 and January 31, 2008 Financial Reports--Micki Rundell, Finance Manager Leticia Zavala gave the Board an overview of the Financial Reports, including monthly sales tax revenues, monthly expenditures, budgetary report , and other relevant financial information. She told the Board that they have done a different format of the reports and would like the Board's feedback on the format. E. Acceptance of the Quarterly Investment Report for the Georgetown Economic Development Corporation (GEDCO) for the quarter ended December 31, 2007--Micki Rundell, Finance Manager Rundell presented the Quarterly Investment Report to the Board and explained the reporting requirements as well. F.Consideration and possible action regarding wastewater line capacity increase serving the Inner Loop Road area-- Mark Thomas, Economic Development Director and Paul E. Brandenburg, General Manager Brandenburg gave an overview of the need for additional wastewater capacity relationship between this item and Airborn. There was additional discussion regarding the original intent of the Economic Development Sales Tax and where it has evolved to today. Discussion as to whether or not Airborn understood that the prior agreement pertained to a specific piece of property and that if they didn't go on that site that agreement would not pertain to a new site. Thomas told the Board that the site in Longhorn Junction that Airborn is interested in will need to have additional wastewater capacity in order to support the project. Dishong explained to the Board that the City has utility masterplan that is utilized to plan installation of water/wastewater infrastructure, and if you look at the City's current 5 and 10 year Capital Improvement Plans, there are some planned infrastructure improvements in this area scheduled over the next several years. However, the timing of the projects planned in this area is impacting the need to accelerate the installation of this infrastructure. There was a question from the Board as to why the capacity isn't already in place. Briggs told the Board the City applied for and received a grant from the Department of Commerce in 1991 whereby 50% of the needed infrastructure was put in place. At that time the planned use for that area was different than it is today. While the City currently has plans to install the infrastructure, the timing of current projects has accelerated the need to install the infrastructure improvements. There was further discussion regarding the participation of Developments in areas where the infrastructure needs to be increased. Dishong gave the Board an overview of the current land use, as well as the improvements that will need to be made in the affected area because of the unanticipated uses of the area. He gave further overview of all of the restraints in the system. He indicated that staff would prefer to build the whole line at one time instead of doing small sections at a time. There was additional discussion regarding short and long term wastewater needs for the area and what needs to happen in order to stay ahead of the curve of need. Per Dishong, the City can get it in the budget next fiscal year, but it needs to happen now. The question is whether the 4A board can loan the City the money necessary to move forward with the installation of the infrastructure and then be paid back by the City in the next fiscal year? Recessed into Executive Session at 3:15 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: G.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. H.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 Core - Downtown Project I. 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. J.Action from Executive Session. Executive Session was recessed at 3:45pm for a break and reconvened at 3:51p.m. Reconvened into open session at 4:03 pm returned to open session. Motion by Berryman , second by Oliver to recommend that the City Council approve a $1.5M budget amendment to accelerate the Smith Branch WW Interceptor into the 2007/08 Capital Improvement Plan from the 2008/09 CIP which has not yet been adopted by City Council. This action will appropriate funding for the project, thus increasing the current year CIP and reducing next year's CIP. In addition, the Board also recommends that the City Council approve a bond reimbursement resolution for $1.5M for bonds to be issued at a later date (May 2009) for funding this project if necessary. Approved 4-0. Motion by Berryman , second by Shelly to direct staff to work with consultants, experts and other EDC's to research and provide information to the Board about the use of 4A funds for spec projects including water, wastewater, land, infrastructure the purchase of property and the construction of buildings. Approved 4-0 Motion by Shelly, second byBerryman to begin negotiations to enter into a Performance Agreement with Kenny Nguyen up to $10,700 to install electrical infrastructure improvements to his downtown property. Approved 4-0. Motion by Berryman , second by Oliver to begin negotiations with Covelant Corvelant(as corrected at the April 21, 2008 GEDCO Meeting to enter into a Performance Agreement for $3,000 per job created up to 53 jobs. Approved 4-0. The Meeting was adjourned at 4:15 p.m. Attest: ___________________________________________________________ Rick Smith, President Ben Oliver, Corporate Secretary