Loading...
HomeMy WebLinkAboutGEDCO_Agenda&Minutes_2009Notice of Meeting of the Georgetown Economic Development Corporation and the Governing Body of the City of Georgetown, Texas Monday, December 21, 2009 The Board of Directors of the Georgetown Economic Development Corporation, created pursuant to Chapter 504 of the Texas Local Government Code (formerly known as Section 4A of the Development Corporation Act of 1979), will meet on Monday, December 21, 2009 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 A.Discussion 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, Enflite, McIntosh Holdings, LLC, Amante, and Quantum Logic Devices -- 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 16, 2009--Ben Oliver, Secretary C.Consideration of the November 30, 2009 Financial Report--Micki Rundell, Finance Manager D.Discussion and possible action regarding the approval of a Performance Agreement between GEDCO and McIntosh Holdings , LLC--Mark Thomas, Economic Development Director E.Discussion and possible action regarding the approval of a Loan Agreement and Promissory Note between GEDCO and Ringdale, Inc. --Mark Thomas, Economic Development Director F. Discussion and possible action to amend the terms of the Performance Agreement regarding Airborn , Inc. --Mark Thomas, Economic Development Director G.Consideration and possible action on a presentation by Dr. Kerry Oliver. - 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: 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 the Development Corporation Act which discussion in open session would have a detrimental effect on negotiations with third persons. -Discussion and possible action regarding the Land/Infrastructure project. 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. - Discussion and possible action for Project Lab 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. K. Action out of Executive Session Certificate of Posting I, Jessica Hamilton, 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 _________________, 2009, at __________, and remained so posted for at least 72 continuous hours preceding the scheduled time of said meeting. __________________________________ Jessica Hamilton, City Secretary Minutes of the Meeting of the Georgetown Economic Development Corporation and the Governing Body of the City of Georgetown, Texas Monday, December 21, 2009 The Georgetown Economic Development Corporation of the City of Georgetown, Texas, met on Monday, December 21, 2009. Members Present: Rick Smith, Ron Shelly, Dale Ross, Ben Oliver, Pat Berryman Members Absent: Staff Present: Paul Brandenburg, General Manager, Laurie Brewer, Assistant Director of Finance and Administration, Mark Thomas, Economic Development Director, Shirley Rinn, Executive Assistant to the City Manager, Jim Briggs, Assistant City Manager for Utility Operation, Jeff Moore (via phone), Attorney, Mark Sokolow, City Attorney Minutes Regular Meeting Meeting was called to order at 2:05 pm. A.Discussion 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, Enflite, McIntosh Holdings, LLC, Amante, and Quantum Logic Devices -- Mark Thomas, Economic Development Director and Paul E. Brandenburg, General Manager Thomas provided an overview of the current projects. There is no change from last month's report. B.Consideration and approval of the minutes from the Regular Board Meeting held Monday, November 16, 2009--Ben Oliver, Secretary Motion by Shelly second by Ross to approve the minutes from the Regular Board Meeting held Monday, November 16, 2009 (Approved 4-0, Berryman absent) C.Consideration of the November 30, 2009 Financial Report--Micki Rundell, Finance Manager Laurie Brewer provided an overview of the Financial Report. She told the board that they are working on the sector report regarding sales tax and asked for a clarification of the sectors that the board would like to see covered, including restaurants and Wolf Ranch. Brewer confirmed that individual information received in many cases is proprietary. Discussion regarding the amount of funding that is available for funding in 2010, including reserves. D.Discussion and possible action regarding the approval of a Performance Agreement between GEDCO and McIntosh Holdings , LLC--Mark Thomas, Economic Development Director Thomas provided an update and overview of the McIntosh Georgetonian project. He provided the background with regard to the reasons this previously approved GEDCO agreement has not been presented to Council and the reasons why the GEDCO Board is being asked to confirm its approval of this project . He explained that verbiage has been included in the Performance Agreement such that the Board would incentivize work that has not yet been done on the project. Thomas told the Board that ongoing work includes buildout of the facility, additional electrical improvements, etc. Thomas told the board that the new application for funding that asks the developer whether or not work has begun on projects in order to avoid developers asking for funding after the fact. Discussion regarding whether or not the developer has settled all of his ongoing liability issues. Further discussion regarding placing a time limit on the developer mitigating outstanding issues. Pat Berryman arrived at 2:20 p.m. Motion by Ross second by Shelly to approve approval of a Performance Agreement between GEDCO and McIntosh Holdings , LLC with the condition that any and all outstanding conditions required by the City, including the completion of a landscape plan, be completed prior to the end of February 2010. (Approved 5-0) E.Discussion and possible action regarding the approval of a Loan Agreement and Promissory Note between GEDCO and Ringdale, Inc. --Mark Thomas, Economic Development Director Thomas provided an overview of the project request. Ringdale is requesting funding in the amount of $20,000 to expand its current facility to 8,500 sq. ft. and hire at least 10 new employees to work on the LED technology. Effective date of the Agreement is February 2010, with completion by February 2011. Thomas confirmed that the developer is aware of and approved the terms of the agreement. Discussion regarding whether funding will take place on the front end the funding or provide it at the completion of the Performance Agreement. Thomas told the Board that most of the smaller projects have been front ended and the larger ones were back ended. There was an in depth discussion regarding the risk involved in front ending the funding because the Promissory Note is not collateralized. There was concern that the practice of front ending funding is a poor business practice if there is no collateral. Thomas indicated that with this particular project he doesn't think it will make a difference if the funding is provided at the front end or completion of the project. Motion by Berryman second by Ross to approve approval of a Loan Agreement and Promissory Note between GEDCO and Ringdale, Inc. with the condition that the funding be provided at the completion (back end) of the project and that the Board would like to see the revised agreement at its next board meeting for approval. (Approved 5-0) There was a request that the Board have further discussion regarding the parameters for drafting future agreements with regard to funding. There was discussion regarding the need to place more specific language in the Performance Agreement with regard the jobs created. F. Discussion and possible action to amend the terms of the Performance Agreement regarding Airborn, Inc. --Mark Thomas, Economic Development Director Thomas told the board that Airborn has been delayed in completing their project and will not complete it by December 2009. Motion by Berryman . second by Ross to amend the terms of the Performance Agreement regarding Airborn, Inc. to extend the deadline for completion until April 30, 2010 and that the start date for job creation measurement be changed to 2010 as well. (Approved 5-0) G.Consideration and possible action on a presentation by Dr. Kerry Oliver. - Mark Thomas, Economic Development Director Dr. Kerry Oliver provided a presentation regarding the background of Radix BioSolutions and the current and future activity of the company and the Texas Life Sciences Collaboration Center. He also provided an overview of the Gyros Opportunity and the positive impact that it will have not only on Radix, but also in other labs at the TLCC. He also described the types of equipment and software that are needed to implement this opportunity. 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: 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 the Development Corporation Act which discussion in open session would have a detrimental effect on negotiations with third persons. -Discussion and possible action regarding the Land/Infrastructure project. 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. - Discussion and possible action for Project Lab 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. Ron Shelly left the meeting at 3:30p.m. Reconvened into regular session at 3:50 p.m. K. Action out of Executive Session Motion by Berryman second by Ross to direct staff to negotiate and develop a Performance Agreement with Project Lab under the terms discussed in Executive Session and bring back a proposed agreement for Board consideration in January 2010. (Approved 4-0; Shelly absent) Motion by Ross, second by Berryman to direct staff to proceed as directed in Executive Session with regard to Project Hill (Approved 4-0, Shelly absent) Motion to adjourn at 3:51p.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, November 16, 2009 The Board of Directors of the Georgetown Economic Development Corporation, created pursuant to Chapter 504 of the Texas Local Government Code (formerly known as Section 4A of the Development Corporation Act of 1979), will meet on Monday, November 16, 2009 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.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, September 14, 2009--Ben Oliver, Secretary C.Consideration of the October 31, 2009 Financial Report--Micki Rundell, Finance Manager D.Consideration of the Investment Report for Quarter ending September 30, 2009--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: 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 the Development Corporation Act 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. -Project Ringdale -Project CU 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. H. Action out of Executive Session Certificate of Posting I, Jessica Hamilton, 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 _________________, 2009, at __________, and remained so posted for at least 72 continuous hours preceding the scheduled time of said meeting. __________________________________ Jessica Hamilton, City Secretary Minutes of the Meeting of the Georgetown Economic Development Corporation and the Governing Body of the City of Georgetown, Texas Monday, November 16, 2009 The Georgetown Economic Development Corporation of the City of Georgetown, Texas, met on Monday, November 16, 2009. Members Present: Rick Smith, Ben Oliver, Pat Berryman, Dale Ross, Ron Shelly Members Absent: Staff Present: Paul Brandenburg, General Manager, Micki Rundell, Finance Manager, Mark Thomas, Economic Development Director, Shirley Rinn, Executive Assistant to the City Manager, Mark Sokolow, City Attorney Minutes Regular Meeting Called to order at 2:00 p.m. Berryman introduced the new City Attorney to the Board, as well as the staff members who are present. A.Discussion and possible action regarding the Project Progress Report. -- Mark Thomas, Economic Development Director and Paul E. Brandenburg, General Manager Thomas provided an overview of the projects the GEDCO Board has worked on. There are no substantive changes from the last report. The cost for the Amante grease trap was higher than the budgeted amount, but the Economic Development budget made up the difference in cost. Discussion about plans the City can and have implemented to anticipate these type of cost overruns in the downtown area. Brandenburg told the Board there are water/wastewater improvement plans in place, as well as the Downtown TIRZ, which will have funds available for these types of improvements. Discussion regarding doing a possible analysis of the types of work that needs to be done in the downtown area., including sidewalks, costs related to buried electrical lines, water/wastewater, etc. Thomas told the Board that the QLD project is tabled for now as the company was under a time crunch and is now looking at other resources capital venture, but may come back to the Board at a later time for equipment grants . He also told the Board that the McIntosh project is also on hold due to the developer planting trees on the property that weren't part of the landscape plan, as well as timing of the placement of the electrical improvements . He told the Board that when the Traffic Impact Analysis was done for the Airborn project everything looked good on paper, but due to vehicles parking on the street , Sneed Drive is effectively a one way road and needs to be widened very quickly in order not to impact Airborn and whether or not new companies will move into the area. Brief discussion regarding issues related to the cost of land and infrastructure issues. Thomas also provided a brief review of status of the status of Hope Lumber and Vista Solutions/Loading Dock. B.Consideration and approval of the minutes from the Regular Board Meeting held Monday, September 14, 2009--Ben Oliver, Secretary Motion by Ross, second by Berryman to approve the minutes of the Regular Board Meeting held on Monday, September 14, 2009. Approved 5-0. C.Consideration of the October 31, 2009 Financial Report--Micki Rundell, Finance Manager Rundell provided an overview of the financial report. She told the Board that the City weathered the past year pretty well. She told them that while our sales tax stayed relatively flat, cities around us didn't fair as well. Discussion regarding when the October sales tax numbers will be available and how the next couple of month’s sales tax numbers will be an indicator for the coming year. Discussion regarding our ability to view the collection of sales tax by sector/industry. Discussion about the status of the funds allocated for the Firehouse renovations and companies interested in the space. Rundell also confirmed that GEDCO has $2.6M in unallocated funds, including reserves. Additional discussion regarding wet/dry issue in Georgetown and the impact that issue has with regard to winery and other restaurant businesses coming to Georgetown. D.Consideration of the Investment Report for Quarter ending September 30, 2009--Micki Rundell, Finance Manager Rundell provided an overview of the Quarterly Investment Report and provided information regarding status of investments. Recessed into Executive Session at 2:35 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 : 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 the Development Corporation Act 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. -Project Ringdale -Project CU 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. Reconvened into Regular Session at 3:08 p.m. H. Action out of Executive Session No action out of Executive Session Motion to adjourn at 3:09 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, October 19, 2009 The Board of Directors of the Georgetown Economic Development Corporation, created pursuant to Chapter 504 of the Texas Local Government Code (formerly known as Section 4A of the Development Corporation Act of 1979), will meet on Monday, October 19, 2009 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, Pat Berryman, Dale Ross, Ben Oliver 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 19, 2009. THIS MEETING HAS BEEN CANCELLED. Certificate of Posting I, Jessica Hamilton, 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 _________________, 2009, at __________, and remained so posted for at least 72 continuous hours preceding the scheduled time of said meeting. __________________________________ Jessica Hamilton, City Secretary Notice of Meeting of the Georgetown Economic Development Corporation and the Governing Body of the City of Georgetown, Texas Monday, September 21, 2009 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 21, 2009 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 The GEDCO Board will meet on September 14, 2009, therefore, no meeting will be held on September 21, 2009. THIS MEETING HAS BEEN CANCELLED. Certificate of Posting I, Jessica Hamilton, 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 _________________, 2009, at __________, and remained so posted for at least 72 continuous hours preceding the scheduled time of said meeting. __________________________________ Jessica Hamilton, City Secretary Notice of Meeting of the Georgetown Economic Development Corporation and the Governing Body of the City of Georgetown, Texas Monday, September 14, 2009 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 14, 2009 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, Pat Berryman, Dale Ross, Ben Oliver Call to Order at 02:00 PM 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, August 17, 2009--Ben Oliver, Secretary C.Consideration of the August 31, 2009 Financial Report--Micki Rundell, Finance Manager D.Discussion and possible action regarding the approval of a Loan Agreement and Promissory Note between GEDCO and Quantum Logic Devices--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: 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. - Project Bowhunt -Airborn 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. H. Action out of Executive Session Certificate of Posting I, Jessica Hamilton, 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 _________________, 2009, at __________, and remained so posted for at least 72 continuous hours preceding the scheduled time of said meeting. __________________________________ Jessica Hamilton, City Secretary Minutes of the Meeting of the Georgetown Economic Development Corporation and the Governing Body of the City of Georgetown, Texas Monday, September 14, 2009 The Georgetown Economic Development Corporation of the City of Georgetown, Texas, met on Monday, September 14, 2009. Members Present: Dale Ross, Rick Smith, Pat Berryman Members Absent: Ron Shelly, Ben Oliver Staff Present: Paul Brandenburg, General Manager, Micki Rundell, Finance Manager, Mark Thomas, Economic Development Director, Shirley Rinn, Executive Assistant to the City Manager, Laurie Brewer, Assistant Finance Director Minutes Regular Meeting Meeting was called to order at 2:05 p.m. A.Discussion and possible action regarding the Project Progress Report. -- Mark Thomas, Economic Development Director and Paul E. Brandenburg, General Manager Thomas went over the progress report. He told the Board it was difficult to fix the grease trap for Amante because of the age of the infrastructure. He indicated that city staff was complimented by the engineers, the restaurant owner and the construction company with regard to their work on this project. There was discussion regarding the wastewater line issue with Airborn. Discussion regarding what the City could do to re-establish goodwill with Airborn regarding the issues related to the wastewater line. Discussion regarding how the 4A and the City should handle requests for additional funding beyond the initial approved requests. He told the Board that Vista Solutions is no longer in business. However they did meeting their contract requirements. B.Consideration and approval of the minutes from the Regular Board Meeting held Monday, August 17, 2009--Ben Oliver, Secretary Motion by Berryman, second by Ross to approve the minutes of the Regular Board Meeting held on Monday, August 17, July 20, 2009. Approved 3-0 (Shelly and Oliver absent) C.Consideration of the August 31, 2009 Financial Report--Micki Rundell, Finance Manager Laurie Brewer provided an overview of the financials. She told them not much has changed since last month. She told the Board that this is the 4th straight month in a row that the City has had positive sales tax growth. Motion Berryman, second by Ross to approve the Financial Report. Approved 3-0 (Shelly and Oliver absent) D.Discussion and possible action regarding the approval of a Loan Agreement and Promissory Note between GEDCO and Quantum Logic Devices--Mark Thomas, Economic Development Director Brief discussion regarding whether this item should be discussed in open or closed session. Mark told the Board that the Board's attorney, Jeff Moore , told him that this proposal was at a point that it could be discussed in open session. Thomas provided an overview of the terms of the agreement. He indicated that Council has been briefed on this proposal and that the Council has not taken any action with regard to the agreement but wanted the GEDCO Board to review it and make a determination regarding its approval. He told the board that the terms proposed seemed to be the standard that he was able to research with other Economic Development entities that have taken a position in companies like this. There was an inquiry as to QLD's competitive position with regard to marketing their product. Thomas told the Board that while there are other companies that have similar products that are in the works, no other company has a product that is at the level as the one that QLD has. Discussion regarding the risks of doing this type of investment/grant to a company. The difference is that there is no collateral such as infrastructure utilized in other agreements. Thomas told the Board that bioscience companies are different than the other types of companies that have come to the 4A for funding in the past. He said that these types of companies are not going to request infrastructure because they typically lease their facilities and do not have a need for it, instead these types of companies will most likely be in need of capital. Additional discussion regarding the risk involved in supporting this type of grant. Extensive discussion regarding the pros and cons of approving this agreement and the different scenarios that could occur if the 4A and City of Georgetown approves this agreement or not. There was further discussion regarding whether or not the 4A should be providing a grant of this nature to a company that is already in the TLCC facility and whether or not the 4A Board/City should be fronting funding without it being tied to performance. Rundell told the Board that she would need to discuss the financial legalities with regard to the stock ownership issue with the City's financial counsel. If the Board were to approve this agreement, there was discussion that we make sure that the agreement includes verbiage that requires the company come back to Georgetown to manufacture the product. There was also discussion regarding whether or not the company had the ability to obtain personal lines of credit for this venture and the uncertainty and risk involved with this particular deal. The Board also discussed whether this was an appropriate use of taxpayer funds to enter into an agreement such as this that has so much risk. The Board also asked about its ability to require a personal guaranty if it is decided to approve this agreement. There was additional discussion regarding the comfort level of the Board granting funding for this type of deal so early in the process. The board indicated support of the technology, but felt hesitant to approve funding so early in the process with so much uncertainty. It was mentioned that the Board to put less funding into the deal and required matching funds and/or other incentives to encourage other investors. Thomas indicated that he would let the company know that while the 4A Board supports the technology of this project, it felt that it was to early in the process to approve funding at this time and that it would not vote to approve the agreement. The Board indicated that once the technology came out of testing and trials and was ready for manufacturing, the Board could possibly consider approval of funding to the TLCC for machines, etc. to facilitate the manufacturing of the product. There was additional discussion as to whether or not there should be a future agenda item to outline a framework of acceptable deals in high level terms. Staff indicated that there are guidelines that are currently utilized, and that this deal does fall outside the "box". Thomas indicated that he can provide the current guidelines we currently utilize to the Board so that the Board can determine whether or not they need to be modified. Motion by Berryman, second by Ross to defer this item to the next meeting when all of the Board members would be available for the discussion. Approved (Shelly and Oliver absent) Recessed into Executive Session at 3:20 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: 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. - Project Bowhunt -Airborn 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. Reconvened into regular session at 3:25 p.m. H. Action out of Executive Session Motion by Berryman, second by Ross to direct staff to pursue an agreement with Project Bowhunt as outlined in Executive Session. Approved 3-0 (Shelly and Oliver absent) Meeting adjourned at 3:27 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, August 17, 2009 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 17, 2009 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 Call to Order at 02:00 PM 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, July 20, 2009--Ben Oliver, Secretary C.Consideration of the July 31, 2009 Financial Report--Micki Rundell, Finance Manager D.Discussion and possible action to finalize the proposed 2009/10 GEDCO budget--Micki Rundell, Finance Manager E.Discussion and possible action to approve the 2009/10 Interlocal Service Agreement between GEDCO and the City for administrative services--Micki Rundell, Finance Manager F.Discussion and possible action regarding the approval of a Loan Agreement and Promissory Note between GEDCO and Amante's Restaurant Group LLC--Mark Thomas, Economic Development Director GPresentation and discussion regarding QLD--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: 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. - QLD 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. K. Action out of Executive Session Certificate of Posting I, Jessica Hamilton, 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 _________________, 2009, at __________, and remained so posted for at least 72 continuous hours preceding the scheduled time of said meeting. __________________________________ Jessica Hamilton, City Secretary Minutes of the Meeting of the Georgetown Economic Development Corporation and the Governing Body of the City of Georgetown, Texas Monday, August 17, 2009 The Georgetown Economic Development Corporation of the City of Georgetown, Texas, met on Monday, August 17, 2009. Members Present: Rick Smith, Ben Oliver, Pat Berryman Members Absent: Ron Shelly, Dale Ross Staff Present: Paul Brandenburg, General Manager, Micki Rundell, Finance Manager, Mark Thomas, Economic Development Director, Shirley Rinn, Executive Assistant to the City Manager, Laurie Brewer, Assistant Finance Director Minutes Regular Meeting Call to Order at 02:00 PM A.Discussion and possible action regarding the Project Progress Report. -- Mark Thomas, Economic Development Director and Paul E. Brandenburg, General Manager Thomas told the Board that the City is in the process of contacting Vista Solutions to prove that they created and maintained the required jobs. Airborn broke ground this past month. He recapped the requirements for Airborn's grant. He told the board that he anticipates that when Airborn gets ready to start its second phase they will request additional funding. B.Consideration and approval of the minutes from the Regular Board Meeting held Monday, July 20, 2009--Ben Oliver, Secretary Motion by Oliver, second by Berryman to approve the minutes of the Regular Board Meeting held on Monday, July 20, 2009. Approved 3-0 (Shelly and Ross absent) C.Consideration of the July 31, 2009 Financial Report--Micki Rundell, Finance Manager Rundell provided an overview of the report. She said that there isn't anything different from the last report. She told the board that sales tax has increased for the third straight month. She also told the Board that they are starting to see housing starts increase as well in the area. D.Discussion and possible action to finalize the proposed 2009/10 GEDCO budget--Micki Rundell, Finance Manager Rundell provided an overview of the 2009/10 Budget. Motion by Oliver, second by Berryman to finalize the proposed 2009/10 GEDCO budget. Approved 3-0 (Shelly and Ross absent) E.Discussion and possible action to approve the 2009/10 Interlocal Service Agreement between GEDCO and the City for administrative services--Micki Rundell, Finance Manager Brewer went over the terms of the Interlocal Agreement. Motion by Oliver, second by Berryman to approve the 2009/10 Interlocal Service Agreement between GEDCO and the City for administrative services. Approved 3-0 (Shelly and Ross absent) F.Discussion and possible action regarding the approval of a Loan Agreement and Promissory Note between GEDCO and Amante's Restaurant Group LLC--Mark Thomas, Economic Development Director Thomas provided an overview of the project to the Board. He also told the Board that there are some issues with regard to leasing space downtown because of cost and infrastructure issues. He explained the difference between the Performance Agreement we have used in the past and the new format of the Loan Agreement and Promissory Note format being used with this project. There was a clarification that this was an eligible 4A expense. Motion by Berryman, second by Oliver to approve the Loan Agreement and Promissory Note between GEDCO and Amante's Restaurant Group, LLC. Approved 3-0 (Shelly and Ross absent) Rundell explained the City's recourse in the event of default. GPresentation and discussion regarding QLD--Mark Thomas, Economic Development Director Thomas talked to the Board about the differences in Biotech companies vs. other companies that request assistance from the 4A Board. Thomas introduced the principals of Quantum Logic Devices (QLD) and Mel Pendland who gave a presentation about QLD. Pendland told the Board the TLCC is the product of 6 years of work of the community. He told the Board that the Center has been very successful in recruiting companies to the center, and one of those companies is Quantum Logic Devices. Mel introduced Dr. Brousseau who provided a PowerPoint presentation regarding his company and outlined the request his company has for the 4A Board. He told the Board that the QLD is now at a point where they have completed much of their research and are now ready to take the next step in developing products based on the research and technology. He provided examples of current tests that diagnose cardiac arrest and explained their limitations. He then provided an overview of the technology QLD is ready to move forward that will decrease the diagnosis time of cardiac arrest. He also explained that the costs for providing tests using this technology are much less than traditional technologies that are currently being utilized. He also explained that the data is quantitative instead of semi-quantitative and dynamic data would be provided with the new testing methods wherein it currently is not dynamic. Cardiodicium will be the company that produces the new testing devices. It would be a spin-off from QLD. He indicated that they have some of the leading cardiologists and experts lined up to work with the company. He provided cardiac testing market data to the board. Dr. Brousseau also provided an overview of the "Go-To-Market Plan" for producing and marketing their product for clinical trials. He told the Board that they would like to get started now with the first phase of the "Go-To Market Plan". He told the board that they will hire two more technicians and retain the staff they have and are requesting approximately $100,000 for this project. He provided additional information about comparable companies (Abbot/iSTAT IPO and Singulex) and their efforts. The Board was told that if this technology can be proven in clinical trials it will be a milestone. They were also told that many contacts have been made contacts to assist the company raising the funds necessary to conduct the clinical trials. There was a brief discussion regarding the American Heart Association's philosophy in not funding "for profit" companies. Discussion regarding QLD's patents. Dr. Brousseau also provided an explanation of the company's reasons for focusing on Cardiac Diagnostics. Mel Pendland indicated that this request is different that requests in the past and gave his reasons as to why he feels this project is a worthy one to fund. Recessed to Executive Session at 3:17 p.m. Ross arrived at 3:20 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: 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. - QLD 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. Reconvened in Regular Session at 3:56 p.m. K. Action out of Executive Session Motion by Oliver, second by Berryman to direct staff to negotiate an agreement with Quantum Logic Devices based on the discussion and direction in Executive Session. Approved 4-0 (Shelly absent) Adjourned at 3:58 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, July 20, 2009 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 20, 2009 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.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 11, 2009--Ben Oliver, Secretary C.Consideration of the June 30, 2009 Financial Report--Micki Rundell, Finance Manager D.Discussion and possible action regarding infrastructure improvements for the alley behind 701 N. Main Street--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: 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. -Discussion and possible action regarding the "Infrastructure Task Force research project” 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. H. Action out of Executive Session Certificate of Posting I, Jessica Hamilton, 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 _________________, 2009, at __________, and remained so posted for at least 72 continuous hours preceding the scheduled time of said meeting. __________________________________ Jessica Hamilton, City Secretary Minutes of the Meeting of the Georgetown Economic Development Corporation and the Governing Body of the City of Georgetown, Texas Monday, July 20, 2009 The Georgetown Economic Development Corporation of the City of Georgetown, Texas, met on Monday, July 20, 2009. Members Present: Rick Smith, Pat Berryman, Dale Ross Members Absent: Ron Shelly, Ben Oliver Staff Present: Paul Brandenburg, General Manager, Shirley Rinn, Executive Assistant, Laurie Brewer, Assistant Director of Finance, Lorie Ann Lankford, Mark Thomas, Economic Development Director, Tina Dunbar, Economic Development Administrative Analyst Minutes Regular Meeting Meeting was called to order at 2:07 p.m. A.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 projects. He told the Board that the final compliance date is nearing for Vista Solutions and provided an update of the status of the Airborn. He also provided the board information about how much capital investment has been built in Georgetown in recent years. B.Consideration and approval of the minutes from the Regular Board Meeting held Monday, May 11, 2009--Ben Oliver, Secretary Motion by Ross, second by Berryman to approve the minutes from the Regular Board Meeting held Monday, May 11, 2009. Approved 3-0 (Oliver and Shelly Absent) C.Consideration of the June 30, 2009 Financial Report--Micki Rundell, Finance Manager Lorie Lankford provided an overview of the Financial Report to the Board. She told them that sales tax collections are positive, but flat compared to last year . She told the Board that the Budget would be brought to the Board for approval in August . Ross asked that the report be done the same way that it is done for GTEC. He indicated it it was easy to follow. There was a brief discussion regarding Administrative Contract for coming year. Thomas provided an explanation on the Airborn exependiture and the way it was structured. D.Discussion and possible action regarding infrastructure improvements for the alley behind 701 N. Main Street--Mark Thomas, Economic Development Director Thomas provided an overview of the request for GEDCO assistance regarding the infrastructure improvements for the alley behind the restaurant at the 701 N. Main Street location. He told the Board that the grease trap in the alley was a problem for the previous restaurants in this location and needs to be . The Board is being requested to fund $25,968.40 Thomas told the Board that he talked to legal counsel and that this project does qualify as a project. The alley is a private alley. Motion by Berryman, second by Smith to authorize staff to negotiate an Agreement to facilitate the necessary infrastructure improvements for the alley behind 701 N. Main Street in an amount not to exceed $25,968.40. Approved 3-0 (Shelly and Oliver absent) The Board further discussed the clawback requirements and confirmed that this improvement would solely benefit this business. There was extensive discussion regarding other needed downtown improvements and eligibility of use of 4A funds to facilitate those improvements. Recessed into Executive Session at 2:30 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: 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. -Discussion and possible action regarding the "Infrastructure Task Force research project” 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. Reconvened in Regular Session at 2:51 p.m. H. Action out of Executive Session Motion by Smith, second by Berryman to approve a professional services agreement with Stegar Bizzell not to exceed $38,089 as discussed in Executive Session.Approved 3-0 (Oliver and Shelly Absent) Adjourned at 2:57 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, June 15, 2009 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 15, 2009 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 June. Therefore, no meeting will be held on June 15, 2009. THIS MEETING HAS BEEN CANCELLED. Certificate of Posting I, Jessica Hamilton, 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 _________________, 2009, at __________, and remained so posted for at least 72 continuous hours preceding the scheduled time of said meeting. __________________________________ Jessica Hamilton, City Secretary Notice of Meeting of the Georgetown Economic Development Corporation and the Governing Body of the City of Georgetown, Texas Monday, May 18, 2009 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 18, 2009 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 The GEDCO Board met on May 11, 2009, therefore, no meeting will be held on May 18, 2009. THIS MEETING HAS BEEN CANCELLED. Certificate of Posting I, Jessica Hamilton, 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 _________________, 2009, at __________, and remained so posted for at least 72 continuous hours preceding the scheduled time of said meeting. __________________________________ Jessica Hamilton, City Secretary Notice of Meeting of the Georgetown Economic Development Corporation and the Governing Body of the City of Georgetown, Texas Monday, May 11, 2009 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 11, 2009 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, April 20, 2009 -- Ben Oliver, Secretary C. Consideration of the April 30, 2009 Financial Reports--Micki Rundell, Finance Manager D.Presentation, discussion and possible action regarding legal services for GEDCO and recent and pending legislative changes to the Economic Development Sales Tax--Jeff Moore 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. -Discussion and possible action regarding the "Infrastructure Strategies Report.” 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. --Project Apple 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 Out of Executive Session 1.Discussion and possible action regarding the "Infrastructure Strategies Report”- --Mark Thomas, Economic Development Director 2.Discussion and possible action to approve a resolution and performance agreement regarding Project Apple--Mark Thomas, Economic Development Director Certificate of Posting I, Jessica Hamilton, 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 _________________, 2009, at __________, and remained so posted for at least 72 continuous hours preceding the scheduled time of said meeting. __________________________________ Jessica Hamilton, City Secretary Minutes of the Meeting of the Georgetown Economic Development Corporation and the Governing Body of the City of Georgetown, Texas Monday, May 11, 2009 The Georgetown Economic Development Corporation of the City of Georgetown, Texas, met on Monday, May 11, 2009. Members Present: Pat Berryman, Ron Shelly, Dale Ross Members Absent: Rick Smith, Ben Oliver Staff Present: Paul Brandenburg, General Manager, Micki Rundell, Finance Manager, Laurie Brewer, Assistant Director of Finance, Mark Thomas, Economic Development Director, George Gomez, Economic Development Program Specialist, Shirley Rinn, Executive Assistant Minutes Regular Meeting Called to Order at 2:03 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 Thomas provided an overview of the Project Progress Report. He went over the new format. B.Consideration and approval of the minutes from the Regular Board Meeting held Monday, April 20, 2009 -- Ben Oliver, Secretary Motion by Ross, second by Shelly to approve the minutes from the Regular Board Meeting held Monday, April 20, 2009. Approved 3-0 (Smith and Oliver Absent) C. Consideration of the April 30, 2009 Financial Reports--Micki Rundell, Finance Manager Micki Rundell Introduced Laurie Brewer to the Board and she went over the financial reports. She told the Board that sales tax for March is down 2.3%. However, the City is only down 6.5% year to date, which is better than expected. Georgetown is holding its own compared to other local communities. D.Presentation, discussion and possible action regarding legal services for GEDCO and recent and pending legislative changes to the Economic Development Sales Tax--Jeff Moore Mark Thomas introduced Jeff Moore to the Board. He provides legal services for 4A and 4B Corporations. He provided a presentation that outlined current changes that are proposed in the current legislative session. Recessed at 2:20 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: 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. -Discussion and possible action regarding the "Infrastructure Strategies Report.” 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. --Project Apple 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. Reconvened into Regular Session at 3:08 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. H. Action Out of Executive Session 1.Discussion and possible action regarding the "Infrastructure Strategies Report”- --Mark Thomas, Economic Development Director There was no action out of Executive Session. 2.Discussion and possible action to approve a performance agreement regarding Project Apple--Mark Thomas, Economic Development Director Motion by Ross, second by Shelly to approve a Performance Agreement regarding Project Apple. Approved 3-0 (Smith and Oliver Absent). The Meeting was adjourned at 3:10p.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, April 20, 2009 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 20, 2009 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 REVISED AGENDA #2 AConsideration and possible action to elect officers to include President, Vice-President and Secretary—Paul E. Brandenburg, General Manager B.Consideration and approval of the minutes from the Regular Board Meeting held Monday, February 16, 2009 -- Ben Oliver, Secretary C.Consideration and possible action related to a resolution of support concerning a Pass-Through Financing Proposal for FM 1460--Ed Polasek, Principal Planner and Paul E. Brandenburg, City Manager D. Consideration of the February 28, 2009 and March 31, 2009 Financial Reports--Micki Rundell, Finance Manager E. Consideration and possible action to approve an amendment to the 2008/09 annual GEDCO budget for adjustments related to the Economic Development Retainer--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: 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. - Consideration and possible action regarding property in the Williams Drive Gateway-- Paul E. Brandenburg, General Manager 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. - Project Firehouse 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. I.Sec.551.074 PERSONNEL MATTERS - Economic Development Director Compensation - Kevin Russell, Director of Human Resources and 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, Jessica Hamilton, 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 _________________, 2009, at __________, and remained so posted for at least 72 continuous hours preceding the scheduled time of said meeting. __________________________________ Jessica Hamilton, City Secretary Minutes of the Meeting of the Georgetown Economic Development Corporation and the Governing Body of the City of Georgetown, Texas Monday, April 20, 2009 The Georgetown Economic Development Corporation of the City of Georgetown, Texas, met on Monday, April 20, 2009. Members Present: Ron Shelly, Rick Smith, Dale Ross, Pat Berryman, Ben Oliver Members Absent: Staff Present: Paul E. Brandenburg, General Manager, Leticia Zavala, Controller, Shirley Rinn, Executive Assistant, Mark Thomas, Economic Development Director, Ed Polasek, Principal Planner, George Gomez, Economic Development Program Specialist, Kevin Russell, Human Resources Director, Jim Briggs, Assistant City Manager for Utility Operations Minutes Regular Meeting Meeting was called to order at 2:00 p.m. AConsideration and possible action to elect officers to include President, Vice-President and Secretary—Paul E. Brandenburg, General Manager Motion by Shelly, second by Ross to nominate Rick Smith for President, Pat Berryman as Vice President, and Ben Oliver as Secretary. Approved 5-0. B.Consideration and approval of the minutes from the Regular Board Meeting held Monday, February 16, 2009 -- Ben Oliver, Secretary Motion by Ross, second by Oliver to approve the minutes from the Regular Board Meeting held Monday, February 16, 2009. Approved 5-0 C.Consideration and possible action related to a resolution of support concerning a Pass-Through Financing Proposal for FM 1460--Ed Polasek, Principal Planner and Paul E. Brandenburg, City Manager Ed Polasek addressed the board and provided an overview of the item and explained the reasons the Resolution of Support is being requested from the Board. He explained to the Board the parameters of Pass-Through Financing and told them this road is not going to be a toll road and that eventually the City will be reimbursed by the State for ridership on the road. There was discussion regarding if there were any Motion by Berryman , second by Oliver to approve to a Resolution of Support concerning a Pass-Through Financing Proposal for FM 1460. Approved 5-0. D. Consideration of the February 28, 2009 and March 31, 2009 Financial Reports--Micki Rundell, Finance Manager Leticia Zavala Zavala gave the overview of the Financial Reports, including monthly sales tax revenues, monthly expenditures, budgetary report , and other relevant financial information. She explained the sales tax revenues and explained how Citicorp's sales tax collection last year has the numbers somewhat skewed and that taking that into account, the City has collected about 6.5% less than last year and the City has budgeted for a 10% decrease. She also told the board that $150,800 was paid to Texas Outdoor Power Equipment. Discussion regarding sales tax collection on the state level and how it compares to what the City collects. E. Consideration and possible action to approve an amendment to the 2008/09 annual GEDCO budget for adjustments related to the Economic Development Retainer--Micki Rundell, Finance Manager Zavala provided an overview of this item to the Board. Motion by Ross, second by Berryman to approve an amendment to the 2008/09 annual GEDCO budget for adjustments related to the Economic Development Retainer. Approved Recessed into Executive Session at 2:15 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: 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. - Consideration and possible action regarding property in the Williams Drive Gateway-- Paul E. Brandenburg, General Manager 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. - Project Firehouse 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. I.Sec.551.074 PERSONNEL MATTERS - Economic Development Director Compensation - Kevin Russell, Director of Human Resources and Paul E. Brandenburg, General Manager Reconvened into Regular Session at 3:10 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 Motion by Berryman , second by Oliver to provide the Economic Director a retention bonus in the structure discussed in Executive Session. Approved 5-0 Motion by Oliver, second by Berryman to approve the action discussed in Executive session regarding the property in the Williams Drive Gateway. Approved 5-0 The Meeting was adjourned at 2:13 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 16, 2009 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 16, 2009 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 March. Therefore, no meeting will be held on March 16, 2009. THIS MEETING HAS BEEN CANCELLED. Certificate of Posting I, Jessica Hamilton, 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 _________________, 2009, at __________, and remained so posted for at least 72 continuous hours preceding the scheduled time of said meeting. __________________________________ Jessica Hamilton, City Secretary Notice of Meeting of the Georgetown Economic Development Corporation and the Governing Body of the City of Georgetown, Texas Thursday, March 5, 2009 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 Thursday, March 5, 2009 beginning at 10:00 AM in the 111 Cooperative Way, Suite 200, Georgetown, TX 78626. 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 10:00 AM Members of the Georgetown Economic Development Corporation and members of the Georgetown City Council may attend a presentation ceremony at Orthopeutics, LP located at 111 Cooperative Way, Suite 200, Georgetown, Texas 78628. No official action will be taken. Certificate of Posting I, Jessica Hamilton, 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 _________________, 2009, at __________, and remained so posted for at least 72 continuous hours preceding the scheduled time of said meeting. __________________________________ Jessica Hamilton, City Secretary Notice of Meeting of the Georgetown Economic Development Corporation and the Governing Body of the City of Georgetown, Texas Monday, February 16, 2009 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 16, 2009 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, January 26, 2009 -- Ben Oliver, Secretary C. Consideration of the January 31, 2009 Financial Reports--Micki Rundell, Finance Manager D. Acceptance of the Quarterly Investment Report for the Georgetown Economic Development Corporation (GEDCO) for the quarter ended December 31, 2008--Micki Rundell, Finance Manager E.Discussion and possible action to approve a resolution and amended performance agreement regarding Enflite, Inc.--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: 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. -Project Bio 2 -Innwood Winery (Fire Station 1) -Project River -Project Apple 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. I.Sec.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, Jessica Hamilton, 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 _________________, 2009, at __________, and remained so posted for at least 72 continuous hours preceding the scheduled time of said meeting. __________________________________ Jessica Hamilton, City Secretary Minutes of the Meeting of the Georgetown Economic Development Corporation and the Governing Body of the City of Georgetown, Texas Monday, February 16, 2009 The Georgetown Economic Development Corporation of the City of Georgetown, Texas, met on Monday, February 16, 2009. Members Present: Rick Smith, Dale Ross, Pat Berryman, Ron Shelly Members Absent: Ben Oliver Staff Present: Paul E. Brandenburg, General Manager, Leticia Zavala, Controller, Shirley Rinn, Executive Assistant, Mark Thomas, Economic Development Director, George Gomez, Economic Development Program Specialist Minutes Regular Meeting Called to order at 2:25 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 Discussion regarding report format to clarify level of detail the board would like in the report. Thomas told the board that the road and infrastructure improvements for TOPE have been completed . There was additional discussion regarding a planned tour of the facility. Thomas went on to give the Board an overview of the status of each of these projects. He also gave a brief general discussion regarding economic development activities in Georgetown. B.Consideration and approval of the minutes from the Regular Board Meeting held Monday, January 26, 2009 -- Ben Oliver, Secretary Motion by Ross, second by Berryman to approve the minutes from the Regular Board Meeting held Monday, January 26, 2009. Approved 4-0 (Oliver absent) C. Consideration of the January 31, 2009 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. Rundell told the Board that while sales tax was down in November by 9.5-10%, December sales tax revenues were flat, which in the scheme of things is good news. There was also a brief discussion regarding impact of building material sales and impact on local economy. Rundell provided the Board an explanation of the Commitment Report regarding approved Projects. There was additional discussion regarding investments and the impact of the economy on those investments. She also provided the Board an explanation of the Interlocal Agreement the City has with GEDCO regarding the infrastructure for Citicorp. There was also a brief discussion regarding Rundell's conservative budgeting policies. D. Acceptance of the Quarterly Investment Report for the Georgetown Economic Development Corporation (GEDCO) for the quarter ended December 31, 2008--Micki Rundell, Finance Manager Zavala gave the Board an overview of the Quarterly Investment Report. She told the Board that we have one security that will mature on February 24, 2009. There was discussion regarding TexStar and CDARS programs. Motion by Ross, second by Berryman to accept the Quarterly Investment Report for the Georgetown Economic Development Corporation (GEDCO) for the quarter ended December 31, 2008. Approved 4-0 (Oliver Absent) E.Discussion and possible action to approve a resolution and amended performance agreement regarding Enflite, Inc.--Mark Thomas, Economic Development Director Thomas provided the Board with an overview of the project. He told the Board that Enflite was afforded $144,000 to be paid on the Certificate of Occupancy. New expansion has been completed. However, company is also doing a remodel and has requested that the funding date be extended. Thomas told the Board that 75 engineering jobs have been created and the company has met the obligations of the agreement. Discussion regarding clarification of the typographical errors in the original agreement regarding timeline and clawback example outlined in the original agreement. Motion by Ross, second by Berryman to approve a resolution and amended performance agreement regarding Enflite, Inc. provided that a clarification of the corrections to the original agreement is provided to the Council prior to its approval. Approved 4-0 (Oliver 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. -Project Bio 2 -Innwood Winery (Fire Station 1) -Project River -Project Apple 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. I.Sec.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 Motion by Berryman, second by Ross to direct staff to proceed negotiate a performance agreement with McIntosh Holdings, LLC for its project at located at 205 West University under the terms discussed to move the electric in Executive Session. Approved 4-0 (Oliver Absent) Motion by Smith, second by Berryman to direct the City Manager to adjust Mark Thomas' salary pursuant to the terms discussed in Executive Session. Adjourned at 3:55 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, January 26, 2009 The Board of Directors of the Georgetown Economic Development Corporation, created pursuant to Section 4A of the Economic Development Act of 1979, as amended (Tex. Rev. Civ. Stat. Ann. Art 5190.6), will meet on Monday, January 26, 2009 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, December 15, 2008 -- Ben Oliver, Secretary C. Consideration of the December 31, 2008 Financial Reports--Micki Rundell, Finance Manager D.Discussion and possible action to approve a "Memorandum of Understanding with the City of Georgetown regarding the Redevelopment of Truck Bays in Old Fire Station No. 1 for Economic Development Purposes".--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: 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. - Land/Infrastructure Task Force Report regarding strategic locations for GEDCO to invest in infrastructure and possible land purchases for economic development purposes. 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. - Land/Infrastructure Task Force Report regarding strategic locations for GEDCO to invest in infrastructure and possible land purchases for economic development purposes. 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. H.Sec.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. 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 _________________, 2009, 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, January 26, 2009 The Georgetown Economic Development Corporation of the City of Georgetown, Texas, met on Monday, January 26, 2009. Members Present: Rick Smith, Ron Shelly, Dale Ross, Ben Oliver, Pat Berryman Members Absent: Staff Present: Paul E. Brandenburg, General Manager, Leticia Zavala, Controller, Trish Carls, City Attorney, Shirley Rinn, Executive Assistant, Mark Thomas, Economic Development Director Minutes Regular Meeting 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 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, December 15, 2008 -- Ben Oliver, Secretary Motion by Oliver, second by Ross to approve the minutes from the Regular Board Meeting held Monday, December 15, 2008. Approved 4-0 (Berryman absent) C. Consideration of the December 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. She told them that Sales Tax Revenue is down about 8%. There was additional discussion regarding the format of the reports and the information included in the reports. D.Discussion and possible action to approve a "Memorandum of Understanding with the City of Georgetown regarding the Redevelopment of Truck Bays in Old Fire Station No. 1 for Economic Development Purposes".--Mark Thomas, Economic Development Director Thomas gave the board a recap of the discussion held at the last GEDCO Meeting regarding this item. He reiterated that this agreement only pertains to the historical bays of the old Fire Station #1 facility. With the Memorandum of Understanding in place, the City/GEDCO will be in a position to move forward quickly to refurbish the space if the winery or other business wants to come to Georgetown. Carls clarified that this MOU is between GEDCO and the City of Georgetown (the owner of the building). Berryman arrived at 2:15 p.m. There was additional discussion as to whether or not demolition was ever considered as an option as opposed to renovation, as well as discussion regarding rental rates on the square and what the impacts would be if someone purchased the property at the current market rates and then still had to factor in the cost of the necessary remodeling. Motion by Oliver, second by Berryman to approve the draft form of the "Memorandum of Understanding with the City of Georgetown regarding the Redevelopment of Truck Bays in Old Fire Station No. 1 for Economic Development Purposes" Recessed to Executive Session 2:20 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: 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. - Land/Infrastructure Task Force Report regarding strategic locations for GEDCO to invest in infrastructure and possible land purchases for economic development purposes. 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. - Land/Infrastructure Task Force Report regarding strategic locations for GEDCO to invest in infrastructure and possible land purchases for economic development purposes. 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. H.Sec.551.074 PERSONNEL MATTERS - Economic Development Director Compensation - Paul E. Brandenburg, General Manager Reconvened into Regular Session at 3:12 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. I.Action from Executive Session There was no action out of executive session. Adjourned at 3:13 p.m. Attest: __________________________________________________________ Ben Oliver, Corporate SecretaryRick Smith, President