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Home My WebLink AboutAgenda_GEDCO_10.18.2021Notice of Meeting for the Georgetown E conomic Dev elopment Corporation of the City of Georgetown October 18, 2021 at 4:00 P M at Georgetown City Hall L arge Conference Room, 808 Martin L uther K ing Jr. St. T he C ity of G eorgetown is committed to compliance with the Americans with Disabilities Act (ADA). If you require as s is tance in partic ipating at a public meeting due to a disability, as defined under the ADA, reas onable as s is tance, adaptations , or ac commodations will be provided upon request. P leas e c ontact the C ity S ec retary's O ffic e, at leas t three (3) days prior to the sc heduled meeting date, at (512) 930-3652 or C ity Hall at 808 Martin Luther King Jr. S treet, G eorgetown, T X 78626 for additional information; T T Y users route through R elay Texas at 711. Re vise d A genda, adde d an ite m to e xec utive se ssion. Age nda re vise d at 2:25 pm on 10/15/2021 Regular Session (T his R egular S es s ion may, at any time, be rec es s ed to c onvene an Exec utive S es s ion for any purpose authorized by the O pen Meetings Act, Texas G overnment C ode 551.) A C ons ideration and approval of the August 16, 2021 G EDC O minutes - S haron P arker, Board Liaison. B C ons ideration of the preliminary financial report for period ending S eptember 30, 2021 - Nathan P arras , Assistant F inanc e Direc tor, C ity of G eorgetown C Disc ussion and possible action to approve a G eorgetown S mall Bus iness Loan P rogram – Michaela Dollar, Economic Development Director D C ons ideration and possible action to amend a performance agreement between the C ity of G eorgetown and W BW S ingle Development LLC – S eries 201 – Michaela Dollar, Economic Development Director E Disc ussion regarding the S taff R eport - David Morgan, G eorgetown C ity Manager F Ac tion out of Executive S ession E xecutiv e Session In c omplianc e with the O pen Meetings Ac t, C hapter 551, G overnment C ode, Vernon's Texas C odes, Annotated, the items listed below will be dis cus s ed in c los ed session and are s ubjec t to action in the regular s es s ion. G Section 551.087. D E LIB E R AT ION R E G AR D IN G E C ON O MIC D E VE LOP ME N T N E G O T IAT IO N S. Deliberation regarding commerc ial or financial information that the c orporation has rec eived from a bus iness pros pect that the G eorgetown Economic Development C orporation seeks to have locate, s tay, or expand in or near the territory of the C ity of G eorgetown and with whic h the C orporation is c onducting ec onomic development negotiations ; and/or deliberation regarding the offer of a financial or other inc entive to a busines s prospec t that the C orporation s eeks to have loc ate, stay, or expand in or near the territory of the C ity of G eorgetown. P rojec t F lex P ower Page 1 of 66 Adjournment Ce rtificate of Posting I, R obyn Densmore, C ity S ecretary for the C ity of G eorgetown, Texas, do hereby c ertify that this Notic e of Meeting was posted at C ity Hall, 808 Martin Luther King Jr. S treet, G eorgetown, T X 78626, a plac e readily acc es s ible to the general public as required by law, on the _____ day of _________________, 2021, at __________, and remained s o posted for at leas t 72 c ontinuous hours prec eding the s cheduled time of said meeting. __________________________________ R obyn Dens more, C ity S ec retary Page 2 of 66 City of Georgetown, Texas Georgetown Economic Development Corporation October 18, 2021 S UB J E C T: C onsideration and approval of the Augus t 16, 2021 G EDC O minutes - S haron P arker, Board Liais on. IT E M S UMMARY: F IN AN C IAL IMPAC T: N/A S UB MIT T E D B Y: S haron P arker AT TAC H ME N T S: Description Type Minutes Backup Material Page 3 of 66 GEDCO Minutes August 16, 2021 Page 1 of 2 Minutes of the Meeting of the Georgetown Economic Development Corporation City of Georgetown, Texas August 16, 2021 The Georgetown Economic Development Corporation of the City of Georgetown, TX, met on Monday, August 16, 2021 at 4:00 PM at City Hall, 808 Martin Luther King Jr Street, Georgetown, Texas Members Present: Hugh Brown, Robert Hilton, Ron Garland, Steve Fought, Barrie Laing (arrived at 5:14pm) Members Absent: Kevin Cummins, Shawn Hood Staff Present: David Morgan, City Manager; Michaela Dollar, Director of Economic Development; Laurie Brewer, Assistant City Manager, Elaine Wilson, Assistant Finance Director; Conchita Gusman, Business Retention Manager, Sharon Parker, Board Liaison. Guest Present: MINUTES Meeting called to Order at 4:04 pm A. Consideration and approval of the July 19, 2021 GEDCO Minutes— Sharon Parker, Board Liaison Motion to approve by Robert Hilton , 2nd by Hugh Brown . Approved 4-0 Kevin Cummins, Shawn Hood and Barrie Lang Absent . B. Consideration of the July 19, 2021 Financial report – Nathan Parras, Assistant Finance Director. Elaine Wilson is filling in for Nathan Parras. Elaine presented the July 2021 financial report. No action needed. C. Discussion regarding the Staff Report -David Morgan, City Manager • Performance Agreement Report • Activity Report • Other Staff Items Michaela reviewed the Performance Agreement report and the Activity Report. No action needed. ----GEDCO entered into Executive Session at 4:34 pm and returned to Regular Session at 4:52 pm----- D. Action out of Executive Session. Motion to approve Project Flex Power as discussed in executive session by Ron Garland, 2nd by Hugh Brown Approved 5-0 Kevin Cummins and Shown Hood absent. Page 4 of 66 GEDCO Minutes August 16, 2021 Page 2 of 2 Motion to adjourn by Ron Garland , 2nd by Hugh Brown . Meeting adjourned at 4:53 pm Hugh Brown, Secretary Kevin Cummins, President Page 5 of 66 City of Georgetown, Texas Georgetown Economic Development Corporation October 18, 2021 S UB J E C T: C onsideration of the preliminary financ ial report for period ending S eptember 30, 2021 - Nathan P arras, As s is tant F inance Director, C ity of G eorgetown IT E M S UMMARY: T he corporate bylaws require the F inanc e Manager to present the monthly financial reports to the Board. Included in these reports will be: • F inancial reports • S ales Tax revenues • Monthly expenditures • Any other relevant financial information S ales tax revenue is two months in arrears ; therefore the revenues reflect only the amount rec eived, not actually earned, as of the report date. F IN AN C IAL IMPAC T: N/A S UB MIT T E D B Y: S haron P arker AT TAC H ME N T S: Description Type Financial Report Backup Material Pres entation Pres entation Financial Summary Backup Material Page 6 of 66 F GEDCO MONTHLY REPORT AS OF SEPTEMBER 30, 2021 COG - GEDCO Financial Report Period: Sep-21 Budget Period FY2021 Sep-21 YTD Actuals w/Encumbrances Variance % of Budget Projections 2021 Variance Fav/(Unfav) % of Projections Beginning Fund Balance 8,845,777 8,845,777 8,845,777 - 100.00%8,845,777 - 100.00% Operating Revenue 40002:Sales Taxes 2,063,750 228,346 2,179,776 116,026 105.62%2,546,875 (367,099) 85.59% 42001:Interest Income 19,000 218 24,863 5,863 130.86%25,000 (137) 99.45% Operating Revenue Total 2,082,750 228,563 2,204,639 121,889 105.85%2,571,875 (367,236) 85.72% Operating Expense Operations 593,783 46,119 417,764 176,019 70.36%528,476 110,712 79.05% Transfers 1,200,169 - 1,200,284 (115) 100.01%1,200,169 (114) 100.01% Operating Expense Total 1,793,952 46,119 1,618,048 175,904 90.19%1,728,645 110,598 93.60% Total Net Operations 288,798 182,445 586,591 (54,016) 203.11%843,230 (256,638) 69.56% Non-Operating Revenue Non-Operating Expense Operations 8,256,391 - 396,500 7,859,891 4.80%5,500,000 5,103,500 7.21% Debt Service 90,572 - - 90,572 0.00%90,572 90,572 0.00% Non-Operating Expense Total 8,346,963 - 396,500 7,950,463 4.75%5,590,572 5,194,072 7.09% Net Non-Operations Total (8,346,963) - (396,500) 7,950,463 4.75%(5,590,572) 5,194,072 7.09% Excess (Deficiency) of Total Revenue over Total Requirements (8,058,165) 182,445 190,091 (7,868,074) 97.64%(4,747,342) 4,937,434 -4.00% Ending Fund Balance 787,612 9,028,222 9,035,868 8,248,256 1147.25%4,098,435 4,937,434 220.47% Reserves Contingency Reserve 505,468 - 505,468 - 100.00%505,468 - 100.00% Debt Service Reserve 202,769 - 202,769 - 100.00%202,769 - 100.00% Reserves Total 708,237 - 708,237 - 100.00%708,237 - 100.00% Available Fund Balance 79,375 9,028,222 8,327,631 8,248,256 10491.50%3,390,198 4,937,434 245.64% YTD Actuals Budget Vs. Actuals Year-End : Projections Vs Actuals Page 7 of 66 GEDCO Financial Summary: September 2021Page 8 of 66 FY2021 FINANCIAL SUMMARY: GEDCO GEDCO Revenue •FY2021 Revenue Budget •Revenue Budget Sources •The FY2021 revenue budget for the GEDCO is $2.1 million •99% of budgeted revenue is sales tax, $2.1 million •Interest Income accounts for $19,000 99.09% 0.91% 40002:Sales Taxes 42001:Interest Income Page 9 of 66 FY2021 FINANCIAL SUMMARY: GEDCO GEDCO Revenue COG - GEDCO Financial Report Period: Sep-21 Budget FY2021 Sep-20 Sep-21 Variance % Variance Variance from Budget % of Budget Projections 2021 Variance Fav/(Unfav) % of Projection Operating Revenue 40002:Sales Taxes 2,063,750 1,744,306 2,179,776 435,470 24.97%116,026 105.62%2,546,875 (367,099) 85.59% 42001:Interest Income 19,000 98,282 24,863 (73,419) -74.70%5,863 130.86%25,000 (137) 99.45% Operating Revenue Total 2,082,750 2,221,114 2,204,639 (16,475) -0.74%121,889 105.85%2,571,875 (367,236) 85.72% YTD Comparison YTD Budget Comparison Year End: Projections Vs Actuals Page 10 of 66 FY2021 FINANCIAL SUMMARY: GEDCO GEDCO Revenue •Sales Tax •Year -to-date sales tax revenue totals $2,179,776, 105% of budget •FY2021 year-to-date collections are 24.97% more than FY2020 year-to-date collections •There is a two-month lag on sales tax collections. 24.97% 2,179,776 SALES TAX REVENUE - FY2020 Versus FY2021 K 250K 500K 750K 1.0M 1.3M 1.5M 1.8M 2.0M 2.3M 01 ) O c t 02 ) N o v 03 ) D e c 04 ) J a n 05 ) F e b 06 ) M a r 07 ) A p r 08 ) M a y 09 ) J u n 10 ) J u l 11 ) A u g 12 ) S e p FY2020 FY2021 Page 11 of 66 FY2021 FINANCIAL SUMMARY: GEDCO GEDCO Expense •FY2021 Expense Budget •Expense Budget Sources •The FY2021 expense budget for the GEDCO is $10.1 million •81% of budgeted expenses are for Economic Development Agreements •Administrative expense budget totals $283,783 •Debt service payment for FY2021 accounts for $90,752 2.80%1.77% 1.28% 81.42% 0.72% 0.17% 11.83% 51001:Administrative Expense 51003:Marketing & Promotional 51004:Contractual Services 53011:Economic Development Agreements 55001:Principal Reduction 55002:Interest Expense 80001:Transfers Out Page 12 of 66 FY2021 FINANCIAL SUMMARY: GEDCO GEDCO Expense COG - GEDCO Financial Report Period: Sep-21 Budget FY2021 YTD Actuals w/Encumbrances: Sep-20 YTD Actuals w/Encumbrances: Sep-21 Variance % Variance Variance from Budget % of Budget Projections 2021 Variance Fav/(Unfav) % of Projection Operating Expense 51001:Administrative Expense 283,783 265,169 283,783 (18,614) 7.02%0 100.00%283,783 0 100.00% 51003:Marketing & Promotional 180,000 68,778 121,874 (53,096) 77.20%58,126 67.71%131,000 9,126 93.03% 51004:Contractual Services 130,000 16,615 12,000 4,615 -27.78%118,000 9.23%112,500 100,500 10.67% 51006:Subscriptions - 10,972 - 10,972 -100.00%- 0.00%- - 0.00% 53016:Travel Expense - 92 107 (16) 17.16%(107) 0.00%1,193 1,086 8.99% 80001:Transfers Out 1,200,169 207,789 1,200,284 (992,495) 477.65%(115) 100.01%1,200,169 (114) 100.01% Operating Expense Total 1,793,952 569,413 1,618,048 (1,056,998) 184.16%175,904 90.19%1,728,645 110,598 93.60% YTD Actuals w/Encumbrances Comparison YTD Budget Comparison Year End: Projections Vs Actuals Page 13 of 66 FY2021 FINANCIAL SUMMARY: GEDCO GEDCO Expense •Operating Expenses •Operating expense budget totals $1.8 million •Administrative Expense: 58.3% of budget •Marketing: year to date expenses total 49.16% of budget •Contractual Services: year to date expenses 9.62% of budget 593,783 417,764 OPERATING EXPENSES K 50K 100K 150K 200K 250K 300K 51 0 0 1 : A d m i n i s t r a t i v e E x p e n s e 51 0 0 3 : M a r k e t i n g & Pr o m o t i o n a l 51 0 0 4 : C o n t r a c t u a l Se r v i c e s 53 0 1 6 : T r a v e l E x p e n s e FY2021 FY2021 Page 14 of 66 FY2021 FINANCIAL SUMMARY: GEDCO Questions Page 15 of 66 F GEDCO MONTHLY REPORT AS OF SEPTEMBER 30, 2021 Operating revenue is comprised of sales tax and allocated interest. The budget for sales tax collections for GEDCO is $2,063,750. Year-to-date sales tax revenue totals $2,179,776, or 105.62% of budget. Through this period, sales tax collections are up $435,470, or 24.97% over year-to-date collections from the prior fiscal year. The City continues to see and monitor the strong performance in sales tax. Operating expenses have a total budget of $1,793,952 for FY2021. Year-to-date operational expenses incurred total $1,618,048, or 90.19% of budget. Operating expenses include administrative expenses, marketing costs, contractual services, and operating transfers to other City funds. Administrative expenses include the allocation for City staff to support the GEDCO fund. Year-to-date administrative expense total $283,783, or 100.00% of budget. The GEDCO fund has dedicated funding to market the City for potential economic development. Year-to-date marketing efforts total $121,874 or 67.71% of budget. Contractual services include $130,000 budgeted for consulting in FY2021. GEDCO will transfer out $1,200,169 in FY2021. This includes a transfer out to the Electric fund for GEDCO’s portion of the Titan North Park development, and a transfer to the Water fund to pay for debt service. Non-Operating revenue, which typically includes bond proceeds, is not part of the FY2021 budget. City staff does not intend to issue any new debt for this fund in the current fiscal year. Non-Operating expense budget totals $8,346,963. Year-to-date non-operating expenses total $396,500 or 4.75% of budget through the period. Non-Operating expenses include funding for strategic partnerships and GEDCO’s debt service payment. Strategic partnerships include year-to-date expense of $400,000 for economic incentive agreements. GEDCO’s debt service payment includes principal reduction of $72,830, and an interest expense of $17,742. The debt service payment for FY2021 has been made and is reflected in this report. Ending fund balance for FY2021 is anticipated to be $4,098,435. After accounting for the contingency reserve of $505,468, and the debt service reserve of $202,769, this fund will have an available fund balance of $3,390,198. FY2021 REVENUE PROJECTIONS: Total operating revenues are projected to end FY2021 at $2,571,875. The largest component of operating revenue is sales tax revenue, which is projected to end the year at $2,546,875. Through the quarter, actuals make up 85.72% of total operating revenue projections. FY2021 EXPENSE PROJECTIONS: Total operating expenses are projected to end FY2021 at $1,728,645. Through the quarter, actuals are 93.60% of total operating expense projections. K 500K 1.0M 1.5M 2.0M 2.5M Q1 Q2 Q3 Q4 Sales Tax Revenue -FY2020 Vs FY2021 FY2020 FY2021 K 250K 500K 750K 1.0M 1.3M 1.5M 1.8M Q1 Q2 Q3 Q4 Total Expense w/Encumbrance FY2020 FY2021 Page 16 of 66 F Non-operating expenses are projected to end FY2021 at $5,590,572, year to date actuals are 7.09% of year end projections. GEDCO anticipates meeting all the funds below line contingency requirements by the end of FY2021. Contingency requirements include a 90-day operating contingency of $505,468, a debt service reserve totaling $202,769. Page 17 of 66 City of Georgetown, Texas Georgetown Economic Development Corporation October 18, 2021 S UB J E C T: Dis cus s ion and pos s ible ac tion to approve a G eorgetown S mall Busines s Loan P rogram – Mic haela Dollar, Ec onomic Development Direc tor IT E M S UMMARY: P ropos al to partner with BC L of Texas to adminis ter a G eorgetown S mall Bus iness Loan P rogram F IN AN C IAL IMPAC T: . S UB MIT T E D B Y: S haron P arker AT TAC H ME N T S: Description Type Small Business Loan Program Backup Material Page 18 of 66 Georgetown Small Business Zero Interest Loan Program October 18, 2021 Page 19 of 66 Background •Current incentive structure makes small business incentives difficult •Emphasis on small business support in recent years •Staff has been looking for options to support small businesses in Georgetown •Partnering with a 3rd party,similar to the COVID-19 Grant Program, is best way to achieve Page 20 of 66 BCL of Texas •BCL of Texas is a US Treasury Certified Development Financial Institution (CDFI), a U.S. Small Business Administration Certified Development Corporation (CDC), and a HUD-certified housing counseling agency. •Our other credentials and certifications include: •501c3 nonprofit organization •Community Development Entity (CDE) •HUD Secondary Finance Lender •Nationwide Multi -State Licensing System (NMLS) Regulated Lender •Office of Consumer Credit Commissioner (OCCC) Regulated Lender •USDA Intermediary lender •USDA Micro Lender •U.S. Small Business Administration Micro Lender •U.S. Small Business Administration Community Advantage (7a) Lender Page 21 of 66 BCL of Texas’ Mission BCL of Texas supports Texans to acquire wealth-building assets, such as homeownership and entrepreneurship, with the financial tools and education necessary to build personal net worth. With an emphasis on diversity, equity, and inclusion, we serve communities of color, women, veterans, rural communities, and low and moderate income individuals, families, and small business owners. Page 22 of 66 BCL Lending Services •Consult with loan customer—sources & uses of funds, loan structure, underwriting •Customer eligibility will require business self-certification of a city of Georgetown address. •Operate the BCL Growth Fund in accordance BCL lending policies including diversity lending features •Collect loan applications •Pull credit reports •Evaluate historical financials •Underwrite loans based on loan applications and required application documents. •Prepare loan closing documents •Disburse loan funds •File UCC liens •File Deeds of Trust •Set up ACH accounts for bank draft payments •Monthly monitor payment collections •Counsel with borrower as changes arise •Develops loan workout plans Page 23 of 66 GEDCO & BCL of Texas Proposed Partnership •BCL of Texas will reserve $250,000 of lending capital to make loans to City of Georgetown Businesses •Businesses can borrow up to $50,000 each with a 36 month term each •GEDCO will pay an interest rate of up to seven percent on behalf of each borrower for BCL of Texas to administer the loans •BCL of Texas will provide quarterly loan portfolio reports for interest payments Page 24 of 66 Loan Qualifications •Meet BCL underwriting guidelines •Be located within the Georgetown city limits •Have less than 25 employees •$3 million or less in annual revenues Page 25 of 66 Potential Additional Requirements Option A •In business a minimum of 10 years •In business a minimum of 5 years for women and minority owned businesses Option B •In business a minimum of 5 years •In business a minimum of 3 years for women and minority owned businesses Page 26 of 66 Potential Additional Funding If GEDCO would like to supplement the $250,000 from BCL, we can add up to an additional $150,000: •Unused marketing funds for FY21 = $100,000 •Budgeted funds for FY22 = $50,000 $400,000 total would serve at least eight Georgetown businesses. Page 27 of 66 Questions? Page 28 of 66 City of Georgetown, Texas Georgetown Economic Development Corporation October 18, 2021 S UB J E C T: C onsideration and pos s ible ac tion to amend a performanc e agreement between the C ity of G eorgetown and W BW S ingle Development LLC – S eries 201 – Mic haela Dollar, Ec onomic Development Direc tor IT E M S UMMARY: T he P erformance Agreement between the C ity of G eorgetown and W BW S ingle Development LLC – S eries 201 was agreed upon and exec uted on March 25, 2019, with terms to fulfill all other duties and obligations as rec ited in the agreement. T he respons ibilities for W BW inc luded the requirement to cons truct the project with a C ertific ate of O cc upancy issued on or before Dec ember 31, 2020. In c orres ponding with W BW Engineering, numerous factors c ontributed to not meeting that commitment. T hes e fac tors inc luded the upheaval in the marketplace due to C O VI D-19, as well as the supply cons traints that manifested in the cons truction indus try. T here was als o a negotiated purchas e from the C ity in order to ac hieve approvals to the des ign that HAR C mandated for window openings on the east side of the building, which otherwis e would not have been allowed due to a c ode rule along property lines . Additionally, they were required to des ign a s ubstantial stormwater c onveyance s ystem along the Austin Ave. frontage. T he unforeseen c hallenges res ulted in c onstruc tion c ompletion and C O issuanc e on S eptember 3, 2021. To be in c omplianc e with the agreement, an amendment to the date is needed. S taff recommends the date by amended to completion on or before O c tober 1, 2021. F IN AN C IAL IMPAC T: . S UB MIT T E D B Y: S haron P arker AT TAC H ME N T S: Description Type Performance Agreement Backup Material Certificate of Occupancy Backup Material Page 29 of 66 Page 30 of 66 Page 31 of 66 Page 32 of 66 Page 33 of 66 Page 34 of 66 Page 35 of 66 Page 36 of 66 Page 37 of 66 Page 38 of 66 Page 39 of 66 Page 40 of 66 Business :WBW Development Business Owner:Bruce Whitis Address:3000 Illinois AVE, Killeen TX, 76543 City of Georgetown Building Inspection Department Certificate of Occupancy This Certificate is issued pursuant to the requirements of Section 110 of the 2012 International Building Code certifying that at the time of issuance this structure was in compliance with the Ordinances of the City of Georgetown regulating building construction and development use for the following: Property Address: Occupancy Classification: Property Owner: Permit Number: Zoning:Construction Type: Building Official Date 109 W 2ND ST201, GEORGETOWN, TX 78626 WB Development 2020-68158 MU-DTIBC Type 5Business B Must post at place of business. 9/3/2021 Occupant Load:91 Page 41 of 66 City of Georgetown, Texas Georgetown Economic Development Corporation October 18, 2021 S UB J E C T: Dis cus s ion regarding the S taff R eport - David Morgan, G eorgetown C ity Manager IT E M S UMMARY: T he G EDC O Board has requested that staff provide a project progres s and status report at eac h meeting on all of the ac tive projec ts dis cus s ed by the Board. Activity R eport P erformanc e Agreement R eport O ther S taff Items F IN AN C IAL IMPAC T: N/A S UB MIT T E D B Y: S haron P arker AT TAC H ME N T S: Description Type Active Project Report Backup Material GEDCO Activity Report Backup Material Page 42 of 66 Name Description Start Date (Council Approved)End Date $ Encumbered $ Expended WBW Development Infrastructure reimbursement grant of $200,000 for qualified expenditures and a $120,000 job creation grant for the creation of 30 jobs over 6 years related to the development of their headquarters location in Downtown Georgetown.2/12/2019 within 6 years of the certificate of occupancy date (* under review)320,000$ 4871 Williams Dr., LLC (Sedro Crossing) Infrastructure reimbursement grant of $250,000 to assist with improvements (utilities and access points) for construction of 89,500 square feet of commercial building space.3/26/2019 12/31/2023 250,000$ Cockrum Commercial (Sedro Crossing) Infrastructure reimbursement grant of $250,000 to assist with improvements (utilities and access points) for construction of 60,000 square feet of new professional office space on Williams Dr.3/26/2019 12/31/2023 250,000$ Atmos Energy Infrastructure reimbursement grant of $148,499.36 for the installation of 776 feet gas main along 7th, 8th, and 9th streets.4/6/2019 148,499$ 143,674$ Texas Speed & Performance Job creation grant of $2K per job up to 100 jobs in 5 years.11/12/2019 11/12/2024 200,000$ Titan NorthPark35, LLC Infrastructure reimbursement grant for qualified infrastructure costs related to the speculative development of a master planned industrial business park located at SH130 & I35.11/17/2020 Certificate of Occupancy date $1,900,000 (Motion Commercial Properties) assigned to: Titan NorthPark35, LLC Infrastructure reimbursement grant in connection with the construction of 2 bldgs : $500K infrastructure reimbursement bldg #1 $500K infrastructure reimbursement bldg #2 Certificate of occupancy issue date 10 year anniversary of start date $1,000,000 --------- Costco Agreement to partner with Atmos for natural gas line extension and reimbursement of cost to GEDCO by Costco if retail store construction is not completed.12/10/2019 12/10/2024 N/A GEDCO - AGREEMENTS STATUS REPORT October 18, 2021 Page 43 of 66 Economic Development Activity Report October 2021 Page 44 of 66 Strategic Goal 1 Support existing businesses and industries Page 45 of 66 Business Retention Activity 0 10 20 30 40 50 60 Oc t - 2 0 No v - 2 0 De c - 2 0 Ja n - 2 1 Fe b - 2 1 Ma r - 2 1 Ap r - 2 1 Ma y - 2 1 Ju n - 2 1 Ju l - 2 1 Au g - 2 1 Se p - 2 1 Visits Touches Page 46 of 66 Business Retention Activity •Planning for business appreciation event 10/29 (originally 10/14) •Attended celebration of 1 year milestone for Barking Armadillo Brewery – survival of business opening at the start of Covid closures. Page 47 of 66 Strategic Goal 2 Enhance targeted recruitment of identified industries Page 48 of 66 Leads Received 0 5 10 15 20 25 Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep FY19 FY20 FY 21 Rolling 12-Month Average Page 49 of 66 Qualified Leads 0 2 4 6 8 10 12 14 Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep FY19 FY20 FY21 Rolling 12-Month Average Page 50 of 66 Qualified Leads Comparison 0 5 10 15 20 25 Oc t 2 0 No v 2 0 De c 2 0 Ja n 2 1 Fe b 2 1 Ma r 2 1 Ap r 2 1 Ma y 2 1 Ju n 2 1 Ju l 2 1 Au g 2 1 Se p 2 1 Leads Qualified Page 51 of 66 Site Visits 0 1 2 3 4 5 6 7 8 9 10 Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep FY19 FY20 FY 21 Rolling 12-Month Average Page 52 of 66 Active Projects 0 10 20 30 40 50 60 70 80 Oc t - 2 0 No v - 2 0 De c - 2 0 Ja n - 2 1 Fe b - 2 1 Ma r - 2 1 Ap r - 2 1 Ma y - 2 1 Ju n - 2 1 Ju l - 2 1 Au g - 2 1 Se p - 2 1 Development Hot Warm Cold Page 53 of 66 Strategic Goal 3 Diversify workforce development and recruitment initiatives Page 54 of 66 Workforce Development Activity •Planning for Manufacturing Day 10/22 •Participated in Workforce Solutions –Exploring Apprenticeships Conference •Monitoring success of local businesses holding on-site job fairs (I.e. AirBorn, 84 Lumber, Tasus, Citypost Chop House) •Encouraged local business participation in Ft. Hood Mega Job Fair (Chatsworth, Builders FirstSource, City of Georgetown, Georgetown Behavorial Hospital, Holt Cat, Lifewave, R&D Molders/Lamont, Staccato) Page 55 of 66 Strategic Goal 4 Encourage speculative development Page 56 of 66 Speculative Development Activity •Continued working with land owners and speculative developers on sites including: •NorthPark35 •Gateway Commerce 35 •Longhorn Junction •“Golden Triangle” •Kelley Foundation Property Page 57 of 66 Overall Goal Tell our story to a broader local audience Page 58 of 66 Other Activity Page 59 of 66 Economic Indicators Page 60 of 66 Unemployment Rate 0.0% 1.0% 2.0% 3.0% 4.0% 5.0% 6.0% 7.0% 8.0% Se p t 2 0 Oc t 2 0 No v 2 0 De c 2 0 Ja n 2 1 Fe b 2 1 Ma r 2 1 Ap r i l 2 1 Ma y 2 1 Ju n e 2 1 Ju l y 2 1 Au g 2 1 Unemployment Rate Rolling 12-Month Average Page 61 of 66 Sales Tax Collections $- $500,000 $1,000,000 $1,500,000 $2,000,000 $2,500,000 $3,000,000 $3,500,000 $4,000,000 $4,500,000 Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep FY 2017 FY 2018 FY 2019 FY 2020 FY 2021 Page 62 of 66 Hotel Occupancy Tax Collections $0 $20,000 $40,000 $60,000 $80,000 $100,000 $120,000 $140,000 $160,000 $180,000 Oct Nov Dec Jan Feb Mar April May Jun Jul Aug Sep FY17 FY18 FY19 FY20 FY21 Page 63 of 66 Construction Permit Applications 0 200 400 600 800 1000 1200 1400 1600 1800 2000 $- $50.0 $100.0 $150.0 $200.0 $250.0 $300.0 $350.0 $400.0 $450.0 Oc t 2 0 No v 2 0 De c 2 0 Ja n 2 1 Fe b 2 1 Ma r 2 1 Ap r 2 1 Ma y 2 1 Ju n 2 1 Ju l 2 1 Au g 2 1 Se p t 2 1 Valuation (in millions) # of Permits Page 64 of 66 Certificates of Occupancy Issued 0 2 4 6 8 10 12 14 16 18 Oc t 2 0 No v 2 0 De c 2 0 Ja n 2 1 Fe b 2 1 Ma r 2 1 Ap r i 2 1 Ma y 2 1 Ju n 2 1 Ju l 2 1 Au g 2 1 Se p t 2 1 COs Issued Rolling 12-Month Average Page 65 of 66 Average Wage $0 $10,000 $20,000 $30,000 $40,000 $50,000 $60,000 $70,000 20 1 8 Q 3 20 1 8 Q 4 20 1 9 Q 1 20 1 9 Q 2 20 1 9 Q 3 20 1 9 Q 4 20 2 0 Q 1 20 2 0 Q 2 20 2 0 Q 3 20 2 0 Q 4 20 2 1 Q 1 20 2 1 Q 2 Page 66 of 66