Loading...
HomeMy WebLinkAboutMinutes_GEDCO_02.17.2014Minutes of the Meeting of the Georgetown Economic Development Corporation And the Governing Body of the City of Georgetown, Texas February 17, 2014 The Georgetown Economic Development Corporation of the City of Georgetown, Texas, met on Monday, February 17, 2014, Members Present: Kevin Kelly, Hugh Brown, Patty Eason, Charles Carter, Jerry Hammerlun, Walt Barkalow Members Absent: Steve Fought Staff Present: Paul E. Brandenburg, General Manager, Mark Thomas, Economic Development Director, Shirley Rinn, Executive Assistant, Susan Morgan, Finance Director, Bridget Chapman, City Attorney, Laurie Brewer, Assistant City Manager, Jodi Levi, Conchita Gusman MINUTES 771 Call to Order at 03:32 PM A. Discussion and possible action regarding the Project Progress Report, including Airborn, Enflite, Radix BioSolutions, Lone Star Circle of Care, Grape Creek Winery, Georgetown Winery, Difusion Technologies, Inc., Texas Life Sciences Collaboration Center (TLCC), GISD, Radiation Detection Company, and Molecular Templates, Inc. -- Mark Thomas, Economic Development Director and Paul E. Brandenburg, General Manager. Thomas provided an update on Enflite. They underestimated the number of jobs they would create and will have to pay back GEDCO. He told the Board that an item will be coming back to GEDCO in the near future regarding an update on this performance agreement. He also told the Board that Radix's performance date is also approaching. He said that they are doing very well, and that their Performance Agreement was an equipment grant with a 5 -year payback with either jobs or cash. A report will also be forthcoming to GEDCO in the near future. He also told the Board that DiFusion has been acquired by another company, which is very good for DiFusion. However, what is unknown is what is to be done with the work done here in Georgetown. The equipment will remain at TLCC or be transferred to another company within TLCC. GEDCO Minutes February 17, 2014 Page 1 of 4 B. Consideration and approval of the minutes from the Meeting held Monday, December 16, 2013 -- Hugh Brown, Secretary The Board voted to approve of the minutes from the Meeting held Monday, December 16, 2013. Approved 6-0 (Fought absent) C. Consideration of the December 31, 2013 and January 31, 2014 Financial Reports--Micki Rundell, Finance Manager Morgan provided an update of the financials. She told the board they will be receiving the sales tax reports at the meetings in the future due to Agenda Posting Deadlines. She told them everything is looking positive. Grape Creek rental payments are being received. D. Consideration and possible action to approve a budget amendment for the 2013/14 budget—Micki Rundell, Finance Manager Morgan provided an overview of the budget amendment. These are costs that are rolled forward from projects that were approved last fiscal year. Motion by Brown, second by Barkalow to approve the budget amendment for the 2013/14 budget. (Approved 6-0, Fought Absent) E. Presentation from the Texas Life Sciences Commercialization Center—Mark Thomas, Economic Development Director Thomas introduced Dr. Mike Douglas, Executive Director, for the TLCC who provided an update on the TLCC operations. He provided a brief overview of the purpose and history of the TLCC. He told the Board that this model for providing facilities for the biotech companies has worked well for them. He reiterated the terms of the GEDCO Performance Agreement and what was required by the TLCC and TLC. He let the Board know how many companies have left and those who have replaced them along with the employee counts for those companies. He let the Board know that the TLCC is now completely out of space. He told them DiFusion would be moving to Boston, MA since they were purchased by another company. He told the Board that they have MOUS with potential new companies that are on a waiting list for space when it becomes available. GEDCO Minutes February 17, 2014 Page 2 of 4 Larger company projects (TLC) have approached the TLCC and they don't have room for them. There are a new building efforts taking place in the vicinity and these companies are being referred to them. He also provided an overview of the TLCC's extended Educational Mission. They are working with Austin Community College on this effort. He also provided an overview of the future expansion of the "TLC". He also mentioned the construction of the Radiation Detection Company facility and the fact that RDC is in Georgetown because TLCC is in Georgetown. He also provided an overview of the interest of Korean and Japanese companies in potentially having a presence in Georgetown and in the region. InnerVisions Corporate Center is in the permitting phase and is planned to be constructed at the corner of Sneed Drive and Innerloop. Thomas let the Board know that the developer is Michael Novick and that he has a number of projects F. Consideration and possible action to approve a Performance Agreement between GEDCO and TASUS Texas Corporation in an amount not to exceed $67,500 -- Mark Thomas, Economic Development Director and Bridget Chapman, City Attorney Walt Barkalow recused himself from the discussion of this item. Thomas provided an overview of the performance agreement terms. Motion by Hammerlun, second by Brown to approve a Performance Agreement between GEDCO and TASUS Texas Corporation in an amount not to exceed $67,500. Approved 5-0, Fought absent, Barkalow recused) G. Consideration and possible action to approve a Loan Agreement between GEDCO and Inner Visions, LLC in an amount not to exceed $70,000 -- Mark Thomas, Economic Development Director and Bridget Chapman, City Attorney This item was pulled from the Agenda EXECUTIVE SESSION The Georgetown Economic Development Corporation will meet in closed executive session as allowed by Texas Open Meetings Act (Texas Government Code) 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. GEDCO Minutes February 17, 2014 Page 3 of 4 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. 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. There were no items discussed in Executive Session, ADJOURNMENT The Meeting was adjourned at 4:05p.m. Attest: 7 Hugh Brown, Corporate Secretary GEDCO Minutes February 17; 2014 ?age 4 of 4 Patty Eason, Presyden%t---