HomeMy WebLinkAboutAgenda_GEDCO_10.16.2017Notice of Meeting for the
Georgetown Economic Dev elopment Corporation and the Gov erning Body
of the City of Georgetown
October 16, 2017 at 4:00 PM
at the City Council Chambers, located at 101 E. 7th Street, Georgetown, TX 78626
The City o f G eo rgeto wn is committed to comp lianc e with the Americans with Dis abilities Ac t (ADA). If yo u
req uire as s is tanc e in participating at a p ublic meeting d ue to a disability, as d efined und er the ADA, reas onab le
as s is tance, ad ap tatio ns , or acc o mmo d ations will b e provid ed up o n req uest. P leas e c o ntact the City Sec retary's
Office, at leas t three (3) days prior to the sc hed uled meeting d ate, at (512) 930-3652 o r City Hall at 113 Eas t 8th
Street fo r add itional info rmation; TTY us ers ro ute through Relay Texas at 711.
Regular Session
(This Regular S es s io n may, at any time, b e rec es s ed to convene an Exec utive S es s io n fo r any p urpose
authorized b y the Op en Meetings Act, Texas Go vernment Co d e 551.)
A Co nsideration and approval of the minutes fo r Georgetown Ec o nomic Develo p ment Co rp o ration for the
Regular Meeting held Mo nday, Sep tember 18, 2017--Bill Mateja, Secretary
B Co nsideration of the S ep tember 30, 2017 financial rep o rts. Leigh Wallac e, F inance Manager, GEDCO,
Finance Direc to r, COG
C Dis cus s ion and pos s ible actio n regarding the Staff Rep o rt —David Morgan, C ity Manager
-P erformance Agreement Report
-Rep o rt from Planning
-Activity Report
-Other Staff Items
D Dis cus s ion regard ing the Geo rgeto wn Ec o nomic Development Strategic P lan - Mic haela Dollar, Direc to r
of Ec o nomic Develo p ment
E Co nsideration and possible actio n to approve a Resolution autho rizing the Georgetown Ec o nomic
Development C o rp o ration (GEDCO) to releas e s urp lus invento ry to the Geo rgeto wn Ind ep endent Sc ho o l
Dis tric t (GIS D) - Mic haela Dollar, Direc to r of Ec o nomic Development
F Actio n o ut o f Exec utive Session.
Executiv e Session
In compliance with the Op en Meetings Act, C hapter 551, Go vernment Code, Vernon's Texas Codes,
Annotated, the items lis ted below will be d is c us s ed in closed s es s io n and are s ubjec t to actio n in the regular
s es s io n.
G Sec. 551.071: CONSULTATION WITH ATTORNEY
Co nsultation with attorney regarding legal is s ues related to agenda items and other matters in whic h (1)
when the go vernmental body seeks the advic e o f its attorney ab o ut: (A) p ending o r c o ntemp lated
litigatio n; o r (B) a s ettlement o ffer; o r (2) o n a matter in which the d uty of the attorney to the go vernmental
body under the Texas Dis ciplinary Rules o f P ro fes s io nal Cond uc t o f the S tate Bar o f Texas clearly
c o nflic ts with this chap ter - Charlie McNabb, C ity Attorney
H
Page 1 of 37
Section 551.072. DELIBERATIONREGARDING REAL PROPERTY
Dis cus s ion and pos s ible actio n to d elib erate the p urc hase,exc hange, leas e or value of real property for
purp o s es authorized b y the Development C o rp o ration Ac t which disc us s io n in o p en s es s io n would have a
detrimental effect on negotiations with third pers ons .
I Section 551.087. DELIBERATION REGARDING ECONOMIC DEVELOPMENT
NEGOTIATIONS.
Delib eratio n regarding commerc ial or financ ial info rmation that the corp o ration has rec eived fro m a
bus iness pros pec t that the Georgetown Ec ono mic Develo p ment Co rp oratio n s eeks to have loc ate, stay, or
exp and in or near the territory of the City o f Georgetown and with whic h the C o rp o ration is cond uc ting
ec o nomic d evelopment nego tiatio ns; and/o r deliberatio n regarding the o ffer of a financ ial or o ther
incentive to a bus iness p ro s p ect that the C o rp o ration seeks to have lo cate, s tay, o r exp and in o r near the
territory o f the City o f Georgetown.
- Projec t C o in
CERTIFICATE OF POSTING
I, Shelley No wling, C ity S ecretary fo r the C ity of Geo rgeto wn, Texas , d o hereby c ertify that this Notice of
Meeting was p o s ted at City Hall, 113 E. 8th Street, a p lace read ily acc es s ible to the general p ublic at all times ,
on the ______ d ay o f __________________, 2017, at __________, and remained so p o s ted fo r at leas t 72
c o ntinuo us ho urs p receding the sc heduled time o f s aid meeting.
____________________________________
S helley No wling, City Sec retary
Page 2 of 37
City of Georgetown, Texas
Georgetown Economic Development Corporation
October 16, 2017
SUBJECT:
Cons id eration and ap p ro val o f the minutes for Geo rgeto wn Econo mic Development Corporatio n fo r the
Regular Meeting held Mond ay, Septemb er 18, 2017--Bill Mateja, Sec retary
ITEM SUMMARY:
ATTACHMENTS:
1. Draft Minutes
FINANCIAL IMPACT:
None
SUBMITTED BY:
Bill Mateja, C o rp o rate Sec retary
ATTACHMENTS:
Description Type
Minutes Cover Memo
Page 3 of 37
GEDCO Minutes
September 18, 2017
Page 1 of 2
Minutes of the Meeting of the
Georgetown Economic Development Corporation
and the Governing Body of the
City of Georgetown, Texas
September 18, 2017
The Georgetown Economic Development Corporation of the City of Georgetown, Texas, met on
Monday, September 18, 2017.
Members
Present:
Jeff Parker, Kevin Kelly, Steve Klein, Bill Mateja, Hugh Brown, Steve Fought
Members
Absent: Valerie Nicholson
Staff
Present:
David Morgan, City Manager/General Manager; Michaela Dollar, Director of Economic
Development; Conchita Gusman, Economic Development Program Manager; Leah Wallace,
Finance Director/Finance Manager; Tina Dunbar, Marketing Coordinator; Charlie McNabb,
City Attorney
MINUTES
Call to Order at 4:00 pm
A Consideration and approval of the minutes for Georgetown Economic Development Corporation for
the Regular Meeting held Monday, August 21, 2017--Bill Mateja, Secretary
Motion by Mateja, second by Klein to approve the August 21, 2017 Minutes. (Approved 6-0)
B Consideration of the August, 2017 financial reports. Leigh Wallace, Finance Manager, GEDCO, Finance
Director, COG
Wallace presented the reports and she and D. Morgan answered questions from the board.
D Discussion and possible action regarding the Staff Report —David Morgan, City Manager
- Performance Agreement Report
- Report from Planning
- Retail Study Update
- Activity Report
- Other Projects
Morgan presented the report from Planning and the Economic Development Activity report.
Discussion was held and staff answered questions from the board.
Gusman presented the performance agreement report. Following discussion Morgan and Gusman
answered questions from the board.
Page 4 of 37
GEDCO Minutes
September 18, 2017
Page 2 of 2
GEDCO entered Into exec session at 4:25.
Out of exec session at 5:54
E Action out of Executive Session.
No Action
Adjourn at 5:55 p.m.
ATTEST:
______________________________ ___________________________________
Bill Mateja, Corporate Secretary Jeff Parker, President
Page 5 of 37
City of Georgetown, Texas
Georgetown Economic Development Corporation
October 16, 2017
SUBJECT:
Cons id eration o f the Septemb er 30, 2017 financ ial reports . Leigh Wallace, Financ e Manager, GEDCO,
Financ e Direc tor, COG
ITEM SUMMARY:
See Attachments
FINANCIAL IMPACT:
None
SUBMITTED BY:
Leigh Wallace, Financ e Manager, GEDCO F inanc e Direc tor, COG
ATTACHMENTS:
Description Type
Report Cover Memo
Page 6 of 37
GEDCO Board Meeting Date: October 16, 2017 Item No. __________
GEORGETOWN ECONOMIC DEVELOPMENT CORPORATION
AGENDA ITEM COVER SHEET
_________________________________________________________________
SUBJECT:
Consideration of the September 30, 2017 financial reports. Leigh Wallace, Finance
Manager, GEDCO, Finance Director, COG.
_________________________________________________________________
ITEM SUMMARY:
The corporate bylaws require the Finance Manager to present the monthly financial
reports to the Board. Included in these reports will be:
• Financial reports
• Sales Tax revenues
• Monthly expenditures
• Any other relevant financial information
Sales tax revenue is two months in arrears. Included in this report is the sales tax revenue
collected in September for sales in July. Payments made to vendors in the month of
August are also included.
ATTACHMENTS:
Monthly Financial Reports
Sales Tax History
SUBMITTED BY:
Leigh Wallace
Finance Manager, GEDCO
Finance Director, COG
Page 7 of 37
APPROVED BUDGET CURRENT PERIOD
YEAR TO DATE
(W/ENCUMB)
YEAR-END
PROJECTION
YEAR-END
VARIANCE
FAV(UNFAV)
% YEAR-END
VARIANCE
FAV(UNFAV)
BEGINNING FUND BALALNCE 5,015,684 5,068,518 5,068,518 - 0.00%
Revenue
OPERATING REVENUES
Sales Tax 1,468,750 155,695 1,309,393 1,581,250 (271,857) -17.19%
Interest 10,400 5,392 44,972 34,171 10,801 31.61%
Miscellaneous Revenue 60,321 - 60,302 60,321 (19) -0.03%
Lease Revenue (Grape Creek)48,000 4,000 52,000 48,000 4,000 8.33%
OPERATING REVENUES TOTAL 1,587,471 165,086 1,466,667 1,723,742 (257,075) -14.91%
OPERATING EXPENDITURES
Joint Services Allocation 197,722 16,477 197,724 197,722 (2) 0.00%
Supplies 300 - 193 300 107 35.80%
Special Services 7,500 - 33 7,500 7,467 99.56%
Travel & Training 1,500 - - 1,500 1,500 100.00%
Promotional & Marketing Program 81,000 2,539 72,106 81,000 8,894 10.98%
Miscellaneous Expense 10,321 - 10,302 10,302 (0) 0.00%
OPERATING EXPENDITURES Total 298,343 19,016 280,358 298,324 17,966 6.02%
TOTAL NET OPERATIONS 1,289,128 146,070 1,186,309 1,425,418 (239,109) -16.77%
NON-OPERATING EXPENDITURES
Avalanche Consulting, Inc 100,000 - 100,000 100,000 - 0.00%
Catalyst 24,000 - 23,259 23,000 (259) -1.13%
Debt Service 115,839 (95,744) 115,725 115,725 - 0.00%
DisperSol 60,000 - 10,000 60,000 50,000 83.33%
Economic Development Projects -Undetermined 5,200,322 - - - - 0.00%
Interest Expense 111,463 111,583 111,583 111,463 (120) -0.11%
Other - - - - - 0.00%
Principal Reduction 100,000 100,000 100,000 100,000 - 0.00%
Radix 50,000 - - - - 0.00%
Rentschler Brewing LLC 70,000 - 70,000 70,000 - 0.00%
Tasus 6,000 - - - - 0.00%
Texas Life Sciences 100,000 - - - - 0.00%
NON-OPERATING EXPENDITURES Total 5,937,624 115,839 530,567 580,188 49,621 8.55%
EXCESS (DEFICIENCY) OF TOTAL REVENUE OVER TOTAL
REQUIREMENTS (4,648,496) 30,231 655,742 845,230 (189,488) -22.42%
ENDING FUND BALANCE 367,188 4,257,593 5,913,748 5,546,560 93.79%
Georgetown Economic Development Corporation Fund
Preliminary Actuals to Year-End Projection September 2017
Page 8 of 37
As of September 30, 2017
Georgetown Economic Development Corporation
Sales Tax History
Variance % Var.
MONTH [a]2011-12 2012-13 2013-14 2014-15 2015-16 2016-17 To FY 16 To FY 16
October 70,264$ 86,324$ 91,863$ 98,094$ 106,050$ 114,748$ 8,698$ 8.20%
November 74,472 82,083 99,552 102,891 112,766 125,214 12,448$ 11.04%
December 111,968 117,582 134,682 143,774 148,200 160,542 12,342$ 8.33%
January 73,177 82,714 89,357 87,695 96,563 110,006 13,443$ 13.92%
February 72,946 77,890 86,901 89,107 108,117 105,556 (2,561)$ -2.37%
March 105,822 115,564 114,355 123,951 133,492 137,301 3,809$ 2.85%
April 81,362 84,420 106,002 102,671 108,977 117,261 8,284$ 7.60%
May 80,919 94,412 112,572 95,699 120,418 125,188 4,770$ 3.96%
June 99,664 114,132 123,306 130,589 142,767 151,484 8,717$ 6.11%
July 89,969 92,765 102,435 108,994 119,534 154,889 35,355$ 29.58%
August 85,792 92,735 98,015 102,888 132,582 122,847 (9,735)$ -7.34%
September 88,334 125,197 119,473 125,201 135,378
Total 1,034,688$ 1,165,819$ 1,278,513$ 1,311,554$ 1,464,844$ 1,425,036$
YTD 946,353 1,040,622 1,159,040 1,186,353 1,329,466 1,425,036 95,570 7.19%
Notes:
[a]Sales tax revenue from the State Comptroller is received two months in arrears.
Sales tax for December is actually received in February
$-
$20,000
$40,000
$60,000
$80,000
$100,000
$120,000
$140,000
$160,000
$180,000
Re
v
e
n
u
e
s
Sales Tax 3 Year Trend
2014-15
2015-16
2016-17
Page 9 of 37
• Economic Development Projects:
- Catalyst Commerical, Inc.
• Promotional & Marketing Programs
- Jerry Walker, DBA Impact Data Source
- A-Z Specialties, Inc.
Page 10 of 37
City of Georgetown, Texas
Georgetown Economic Development Corporation
October 16, 2017
SUBJECT:
Disc ussion and p o s s ib le ac tion regard ing the S taff Report —David Morgan, City Manager
-P erformance Agreement Report
-Report from P lanning
-Activity Report
-Other Staff Items
ITEM SUMMARY:
The GEDCO Board has req uested that staff p ro vide a projec t p ro gress and s tatus report at eac h meeting
o n all of the ac tive p ro jects disc ussed b y the Bo ard .
FINANCIAL IMPACT:
N/A
SUBMITTED BY:
David S. Morgan, C ity Manager
ATTACHMENTS:
Description Type
pa Cover Memo
Page 11 of 37
Name Description
Start Date (Council
Approved)End Date $ Encumbered $ Expended
Citigroup
Grant for wastewater infrastructure for
construction of datacenter. 12/12/2006 12/31/2018 $ 1,300,000 $ 1,300,000
DisperSol
Grant for job creation related to expansion
of manufacturing facilities.10/16/2014 2/15/2019 250,000$ $ 80,000
Grape Creek
Grant for reimbursement of Qualified
Expenditures for the lease/purchase and
future site improvements at 101 E. 7th
Street and 614 Main Street for the
operation of a winery on the Downtown
Square. 8/23/2011 3/1/2018 280,000$ 280,000$
Grape Creek
GEDCO purchase of building. GCV
currently under lease/purchase agreement
with right to exercise purchase at end of PA
for $447K.8/23/2011 3/1/2018 447,000$ 447,000$
Lone Star Circle of Care
Grant for Qualified Expenditures for future
site improvements at 205 East University
Avenue, Georgetown, Texas. Loan
Agreement and Promissory Note have
been executed. 6/28/2011 11/30/2017 387,000$ $ 387,000
Radiation Detection Corporation
Grant for Qualified Expenditures and job
creation related to the relocation of the
corporate offices to Georgetown. 7/23/2013 12/31/2021 320,000$ 320,000$
Radix BioSolutions, Ltd.
Provided grant to assist with the work and
future plans of Radix BioSolutions at the
TLCC. Radix paid back $47K on 3/15/15.
Radix paid back $50K 3/10/16. Radix paid
back $50K on 3/10/2017 .3/9/2010 3/31/2018 250,000$ $ 103,000
GEDCO - ACTIVE PERFORMANCE AGREEMENTS STATUS REPORT
October 16, 2017
Over Page 12 of 37
City of Georgetown, Texas
Georgetown Economic Development Corporation
October 16, 2017
SUBJECT:
Disc ussion regarding the Georgetown Ec o no mic Develo p ment S trategic Plan - Michaela Do llar, Directo r o f
Ec o nomic Develo p ment
ITEM SUMMARY:
The Geo rgetown Ec o nomic Development department rec ently completed a Target Ind ustry & Wo rkforc e
Analysis fo r G eo rgeto wn, and are us ing it alo ng with previo us s tud ies to develop a dynamic multi-year
s trategic plan fo r our ec o nomic develo p ment p ro gram. Mic haela Dollar, Direc to r of Ec o nomic
Develo p ment will p ro vide informatio n o n the p ro c es s o f and go als for the Strategic Plan - Michaela Do llar
FINANCIAL IMPACT:
n/a
SUBMITTED BY:
Michaela Dollar, Direc tor o f Econo mic Development
ATTACHMENTS:
Description Type
s p Cover Memo
Page 13 of 37
Economic
Development
STRATEGIC PLAN DEVELOPMENT
Page 14 of 37
Goal
To develop a comprehensive strategic plan
for the Georgetown economic development
program that will span 3-5 years
Related to council’s goal to “expand and
diversify the tax base”
Will be refreshed annually
Will not be a to-do list
Page 15 of 37
Timeline
October
Research
November
Planning
December
Presentation
Page 16 of 37
Referenced Materials
Georgetown Workforce Analysis (2017)
Georgetown Target Industry Analysis (2017)
Georgetown Retail Analysis (2016)
Georgetown Downtown Master Plan (2013)
Page 17 of 37
Community Input
City Council
City Manager’s Office
City Department Directors
Economic Development Corporation (GEDCO)
Transportation Enhancement Corporation (GTEC)
Main Street Advisory Board
Chamber of Commerce Board of Directors
Development Alliance
Sun City focus groupPage 18 of 37
Competitive Strengths &
Opportunities
Increasingly viewed as an attractive and affordable location
Active retired residents
Proactive support of growing new businesses
Large manufacturing sector
Surprisingly strong maker culture
Wealth of talent -Labor force of 700,000 workers
Large veteran population
High quality of life
Proximity to education
Commitment to renewable energy resourcesPage 19 of 37
Economic Development
Department
Economic
Development
Director
Business Retention
Manager
Downtown
Development
Manager
Marketing
Coordinator
Page 20 of 37
Economic Development
Mission
To purposefully support a business-friendly
environment where companies can and
want to grow
Page 21 of 37
Business Friendly
What does it mean to be business friendly?
How can we improve our business-friendly image?
Page 22 of 37
Strategic Objectives
1.Targeted recruitment of identified industries
2.Support existing businesses and industries
3.Workforce development and recruitment
4.Encourage speculative development
5.Utilize the knowledge base in the active retirement
community
6.Tell our story to a broader local audience
Page 23 of 37
1. Targeted Recruitment
Page 24 of 37
1. Targeted Recruitment
Work to create jobs
We do this now through:
Direct targeting
Trade shows
Recruitment trips
Online presence
Relationships with businesses, site selectors, and brokers
Are we missing anything?
Page 25 of 37
2. Existing Business
Build strong business relationships through the BRE
program
Enhance industry cluster roundtables
Annual Business Appreciation Event
Small Business Resource Roundup
Look for ways to continue to partner with the
Georgetown Chamber of Commerce
How can we better foster local business relationships?
What needs do our businesses have that we could
assist with?Page 26 of 37
3. Workforce Development
Develop stronger relationships with educational institutions
that serve Georgetown’s Workforce
Tap into the veteran population in the northern labor shed
Work to make Georgetown more desirable and well-
known to young professionals
How can we better utilize the regional higher education
institutions?
How can we better connect with the veteran workforce?
What is Georgetown missing for young professionals that
we could assist with?
Page 27 of 37
4. Encourage Spec
Development
Develop incentive program
Identify available land favorable for needed
development
What hurdles are there for speculative
development?
How can we take away some of those hurdles?
Page 28 of 37
5. Utilize Retirees’
Knowledge
How do we better utilize the knowledge base that
our active retirement community provides?
What type of setting would be best to engage
with businesses?
Page 29 of 37
6. Tell Our Story
Symposium
Commercial Broker Event
Young Professionals
Improved Marketing
What groups are we missing?
What message are we telling?
Page 30 of 37
THANK YOU!
Page 31 of 37
City of Georgetown, Texas
Georgetown Economic Development Corporation
October 16, 2017
SUBJECT:
Cons id eration and p o s s ib le ac tion to approve a R es o lutio n authorizing the G eo rgeto wn Econo mic
Develo p ment Corporatio n (GEDCO) to releas e s urplus inventory to the Georgetown Independ ent Scho ol
District (GISD) - Michaela Do llar, Directo r o f Ec ono mic Develo p ment
ITEM SUMMARY:
At its Sep temb er 17, 2012 meeting, GEDCO ap p ro ved a P erfo rmanc e Agreement b etween GEDCO and
GISD to purc has e eq uipment fo r the engineering laborato ries . The equip ment p urc hased the same o r
s imilar to equipment us ed b y Geo rgeto wn manufacturers at the time. While GISD c o ntinues to us e the
eq uipment, it is c o ns idered s urplus and unus able b y GEDCO and the City o f Georgetown.
Now, therefore, s taff res p ectfully reques ts that GEDC O approve the Resolutio n to trans fer ownership of
the surp lus equip ment to GIS D.
FINANCIAL IMPACT:
N/A
SUBMITTED BY:
Michaela Dollar
ATTACHMENTS:
Description Type
res olution Cover Memo
Page 32 of 37
Resolution No. Page 1 of 1
Subject: Transfer surplus material from GEDCO to GISD
Date Approved
RESOLUTION NO. _____________
A RESOLUTION OF THE GEORGETOWN ECONOMIC DEVELOPMENT
CORPORATION (GEDCO) OF THE CITY OF GEORGETOWN, TEXAS
AUTHORIZING GEDCO TO RELEASE SURPLUS INVENTORY TO THE
GEORGETOWN INDEPENDENT SCHOOL DISTRICT (GISD).
WHEREAS, GEDCO and GISD entered into an incentive performance agreement regarding an
engineering program for students to gain real world work skills using GEDCO-provided
manufacturing equipment; and,
WHEREAS, the performance agreement has concluded, and GEDCO has determined that the
manufacturing equipment is surplus, and GEDCO intends to transfer the surplus
manufacturing equipment to GISD; and,
WHEREAS, the equipment shall continue to serve an economic development purpose for the
City through the GISD student training program.
NOW THEREFORE BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
GEORGETOWN TEXAS:
SECTION ONE. The facts and recitations contained in the preamble of this Resolution are
hereby found and declared to be true and correct, and are incorporated by reference herein and
expressly made a part hereof, as if copied verbatim.
SECTION TWO. GEDCO finds it in the best interest of the citizens of Georgetown to authorize
the transfer of surplus equipment to GISD for student training for future employment and serving
as a continued economic development within the community.
SECTION THREE. The GEDCO President is hereby authorized to sign any necessary transfer
documents.
SECTION FOUR. This Resolution shall become effective on the ___ day of _____________, 2017.
PASSED AND APPROVED on the _______ day of _______________, 2017.
ATTEST: CITY OF GEORGETOWN, TEXAS
______________________________ By: _____________________________
Bill Mateja, GEDCO Secretary Jeff Parker, GEDCO President
APPROVED AS TO FORM:
_____________________________
Charlie McNabb, City Attorney
Page 33 of 37
City of Georgetown, Texas
Georgetown Economic Development Corporation
October 16, 2017
SUBJECT:
Ac tion out of Exec utive S es s io n.
ITEM SUMMARY:
FINANCIAL IMPACT:
TBD
SUBMITTED BY:
Charlie Mc Nab b , City Atto rney
Page 34 of 37
City of Georgetown, Texas
Georgetown Economic Development Corporation
October 16, 2017
SUBJECT:
Sec. 551.071: CONSULTATION WITH ATTORNEY
Cons ultation with atto rney regard ing legal iss ues related to agend a items and o ther matters in which (1)
when the go vernmental b o d y s eeks the advic e of its atto rney about: (A) p end ing or contemplated litigation;
o r (B) a settlement offer; or (2) o n a matter in whic h the duty of the attorney to the governmental b o d y
und er the Texas Dis c ip linary Rules o f Pro fes s ional C o nduct of the State Bar of Texas c learly conflicts with
this c hapter - C harlie McNab b , City Atto rney
ITEM SUMMARY:
FINANCIAL IMPACT:
N/A
SUBMITTED BY:
Charlie Mc Nab b , City Atto rney
Page 35 of 37
City of Georgetown, Texas
Georgetown Economic Development Corporation
October 16, 2017
SUBJECT:
Section 551.072. DELIBERATIONREGARDING REAL PROPERTY
Disc ussion and p o s s ib le ac tion to deliberate the purchas e,exchange, leas e o r value o f real p ro p erty for
p urposes autho rized by the Develo p ment Corporatio n Act whic h d is cus s ion in open session wo uld have a
d etrimental effec t o n nego tiatio ns with third p ers o ns .
ITEM SUMMARY:
FINANCIAL IMPACT:
n/a
SUBMITTED BY:
Charlie Mc Nab b , City Atto rney
Page 36 of 37
City of Georgetown, Texas
Georgetown Economic Development Corporation
October 16, 2017
SUBJECT:
Section 551.087. DELIBERATION REGARDING ECONOMIC DEVELOPMENT
NEGOTIATIONS.
Deliberatio n regard ing c o mmercial o r financ ial informatio n that the c o rp o ratio n has received from a
b usines s pros p ec t that the Geo rgeto wn Economic Development Corporation s eeks to have lo cate, s tay, o r
expand in or near the territo ry o f the City o f Geo rgeto wn and with whic h the Corporatio n is c o nducting
econo mic d evelo p ment negotiations ; and/o r d elib eration regard ing the o ffer o f a financial o r other inc entive
to a bus iness pros pec t that the Co rp o ration s eeks to have loc ate, stay, o r expand in or near the territory of
the City of Georgetown.
- P ro ject Co in
ITEM SUMMARY:
FINANCIAL IMPACT:
N/A
SUBMITTED BY:
Charlie Mc Nab b , City Atto rney
Page 37 of 37