HomeMy WebLinkAboutMinutes_GEDCO_09.22.2014Minutes of the Meeting of the
Georgetown Economic Development Corporation
And the- Governing Body of the
City of Georgetown., Texas
September 22, 2014
The Georgetown Economic Development Corporation of the City of Georgetown, Texas, met on
Monday, September 22, 2014.
Members Present:
Steve Fought, Kevin Kelly, Patty Eason, Charles Carter, John Hessen
Members Absent: Wait Barkalow, Hugh Brown
Staff Present: Paul E. Brandenburg, General Manager; Mark Thomas, Economic Development
Director; Micki Rundell, Finance Manager; Laurie Brewer, Assistant City Manager; Jodi Levi, Senior
Accountant; Bridget Chapman, City Attorney; Tina Dunbar, Administrative Assistant
Legislative Regular Agenda
A Action out of Executive Session.
B Consideration and approval of the minutes for Georgetown Economic Development Corporation
for the Regular Meeting held Monday, August 18, 2014 --Hugh Brown, Secretary
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Approved 5-0 1
C Consideration and possible action to approve the GEDCO 2014/15 budget - Micki Rundell, Finance
Manager
Rundell explained the budget document. Kelly questioned the loan payment for Citicorp. Rund
explained that GEDCO is repaying the Wastewater fund for the wastewater line. i
GEDCO Minutes
September 22, 2014
Page 1 of 3
E Discussion and possible action regarding the Project Progress Report, including Airborn, Radix
BioSolutions, Lone Star Circle of Care, Georgetown Winery, Grape Creek Winery, Difusion
Technologies, Inc., Texas Life Sciences Collaboration Center (TLCC), Radix, Radiation Detection
Company, Summit at the Rivery Conference Center, Molecular Templates, Inc., and TASUS Texas
Corporation —Pau I E. Brandenburg, General Manager and Mark Thomas, Economic Development
Director
Thomas provided the status of existing projects and stated that TLCC will make a presentation at
the next meeting.
F Discussion and possible action to approve the Economic Development Department's participation
in the Wilco Funding Portal joint venture on behalf of GEDCO - Mark Thomas
Thomas explained the Wilco Funding website and how it uses crowdfunding to help smaller
companies and the startup market. This segment of Georgetown businesses have been hard fo
us to assist. Round Rock brought the Wilco Portal to the Williamson County Partnership. Thom
explained that 2 Georgetown businesses are successfully using the website- Etruck (raised
$200,000) and All Things Kids. The administrator of the Wilco Portal is requesting a small one-
time set up fee from member communities. I
Eason asked about the security of having our companies posted on the site. Thomas explained
that there are no Guarantees but by doing our jobs we will keep the companies in Georgetown.
Motion by Fought, second by Carter to approve payment of the start-up fee for and participation
in the Wilco Funding Portal. Approved 5-0
1, Consideration and possible action on funding for the Pecan Branch development - Mark Thomas
Thomas introduced Randy Mongold and named some of his completed and current projects in
Georgetown, such as, Innervision, Texas Outdoor Power, South Austin Medical Plaza and the
Georgetown Behavioral Health institute. Thomas explained how Mr. Mongold came to own the
property and how the market has driven the creation of the Pecan Branch development. Thomas
confirmed that this project is the one recently covered in the press. Mongold explained his
deliberations with potential retailers for this property and his opinion of the future for adjacent
properties.
Discussion was held on the benefits of developing this area as retail rather than the planned
employment center. Thomas explained that GTEC was favorable of the project and is now going
through its process to determining if and what type of incentives could be available to the project.
GEDCO Minutes
September 22, 2014
Page 2 of 3
Eason asked the City Attorney if the number of Council members on GTEC and GEDCO combined
presents a rules violation (quorum of City Council) when the Boards vote on the same item
separately. Chapman explained that it is not an issue as both GEDCO and GTEC are private
corporations and each corporation is deliberating on a different aspect of this projea Based on
this explanation, Eason stated for the record that the reason a majority of City Council can vote
on this issue Is 1) GEDCO and GTEC are each private corporations (not like the City's other Boards
• Commissions) and 2) each Corporation is voting on a different issue of the project.
Motion •. Fought, second • Hesser to support the move from employment center to retail for
this project, Approved 5-0
Motion by Fought, second by Kelly to direct staff to create an ROI on this project for
consideration of possible incentives. Approved 5-0
Attest:
Hugh Brown, Corporate Secretary
GEDCO Minutes
September 22, 2014
Page 3 of 3
Patty Eason, esident