HomeMy WebLinkAboutAgenda_GEDCO_10.26.2015Notice of Meeting for the
Georgetown Economic Development Corporation and the Governing Body
of the City of Georgetown
October 26, 2015 at 3:30 PM
at the City Council Chambers, located at 101 E. 7th Street, Georgetown, TX 78626
The City of Georgetown is committed to compliance with the Americans with Disabilities Act (ADA).
If you require assistance in participating at a public meeting due to a disability, as defined under the
ADA, reasonable assistance, adaptations, or accommodations will be provided upon request. Please
contact the City at least four (4) days prior to the scheduled meeting date, at (512) 930-3652 or City
Hall at 113 East 8th Street for additional information; TTY users route through Relay Texas at 711.
Legislative Regular Agenda
A Consideration and approval of the minutes for Georgetown Economic Development Corporation
for the Regular Meeting held Monday, August 17, 2015--Kevin Kelly, Secretary
B Consideration of the August 31 and September 30, 2015, Financial Reports-Debbie Mitchell
C Discussion and possible action regarding the benefit of commissioning a retail market study to
conduct research and provide recommendations to enhance existing retail areas and increase retail
tenancy in the Georgetown Community-Mark Thomas, Economic Development Director and
David Morgan, General Manager
D Discussion and possible action regarding the Project Progress Report—Mark Thomas, Economic
Development Director
E Action out of Executive Session.
Executive Session
In compliance with the Open Meetings Act, Chapter 551, Government Code, Vernon's Texas Codes,
Annotated, the items listed below will be discussed in closed session and are subject to action in the
regular session.
F Sec. 551.071: CONSULTATION WITH ATTORNEY
Consultation with attorney regarding legal issues related to agenda items and other matters in
which (1) when the governmental body seeks the advice of its attorney about: (A) pending or
contemplated litigation; or (B) a settlement offer; or (2) on a matter in which the duty of the
attorney to the governmental body under the Texas Disciplinary Rules of Professional Conduct of
the State Bar of Texas clearly conflicts with this chapter.
G Section 551.072. DELIBERATIONREGARDING 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 adetrimental effect on negotiations with third persons.
H Section 551.087. DELIBERATION REGARDING ECONOMIC DEVELOPMENT
NEGOTIATIONS.
Deliberation regarding commercial or financial information that the corporation has received from
Page 1 of 22
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.
CERTIFICATE OF POSTING
I, Shelley Nowling, 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 __________________, 2015, at __________, and remained
so posted for at least 72 continuous hours preceding the scheduled time of said meeting.
____________________________________
Shelley Nowling, City Secretary
Page 2 of 22
City of Georgetown, Texas
Georgetown Economic Development Corporation
October 26, 2015
SUBJECT:
Consideration and approval of the minutes for Georgetown Economic Development Corporation
for the Regular Meeting held Monday, August 17, 2015--Kevin Kelly, Secretary
ITEM SUMMARY:
ATTACHMENTS:
1. Draft Minutes for the Regular Meeting held Monday, August 17, 2015
FINANCIAL IMPACT:
None
SUBMITTED BY:
Kevin Kelly, Corporate Secretary
ATTACHMENTS:
Description Type
Minutes Cover Memo
Page 3 of 22
GEDCO Minutes
August 17, 2015
Page 1 of 2
Minutes of the Meeting of the
Georgetown Economic Development Corporation
And the Governing Body of the
City of Georgetown, Texas
August 17, 2015
The Georgetown Economic Development Corporation of the City of Georgetown, Texas, met on
Monday, August 17, 2015.
Members Present:
Steve Fought, Hugh Brown, Kevin Kelly, Rachel Jonrowe, Bill Mateja, Ty Gipson, Jeff Parker
Staff Present: David Morgan, City Manager, Jim Briggs, Assistant City Manager, Mark
Thomas, Economic Development Director; Micki Rundell, Finance Manager; Paul Diaz, Budget
Manager; Skye Masson, Assistant City Attorney; Tina Dunbar, Administrative Assistant;
Conchita Gusman, Program Manager
MINUTES
Call to Order at 03:30PM
Legislative Regular Agenda
A Consideration and approval of the minutes of the Georgetown Economic
Development Corporation for the Regular Meeting held Monday, June 1, 2015 – Kevin
Kelly, Secretary
Motion by Brown, second by Mateja to approve the corrected Georgetown
Economic Development Corporation minutes for the Regular Meeting held
Monday, April 1, 2015.
(Approved 7-0)
B Presentation regarding sales tax forecasting, FY2015 year-end projections and the
FY2016 sales tax budget projections – Paul Diaz, Budget Manager
Diaz made the presentation and answered questions from the Board
C Consideration of the May 31, June 30 and July 31, 2015 Financial Reports-Micki
Rundell, Finance Manager
Rundell presented the financial reports and answered questions from the Board
Page 4 of 22
GEDCO Minutes
August 17, 2015
Page 2 of 2
D Consideration and possible action to approve the GEDCO 2015/16 budget - Micki
Rundell, Finance Manager
Rundell presented the 2015/2016 budget and answered questions from the
Board
Motion by Brown, second by Kelly to approve the budget as presented
(Approved 7-0)
E Consideration and possible action regarding the Administrative Services Contract
between the City of Georgetown and the Georgetown Economic Development
Corporation - Micki Rundell, Finance Manager
Rundell explained the contract and answered questions from the Board
Motion by Jonrowe, second by Gipson to approve the Administrative Contract as
presented
(Approved 7-0)
F Discussion and possible action regarding the Project Progress Report—Mark
Thomas, Economic Development Director
Mark went through the items on report and answered questions from the Board
Executive Session
In compliance with the Open Meetings Act, Chapter 551, Government Code, Vernon's Texas
Codes, Annotated, the items listed below will be discussed in closed session and are subject to
action in the regular session.
G Action out of Executive Session
No Executive Session or action taken
The meeting was adjourned at 4:30PM
Attest:
______________________________ ___________________________________
Kevin Kelly, Corporate Secretary Steve Fought, President
Page 5 of 22
City of Georgetown, Texas
Georgetown Economic Development Corporation
October 26, 2015
SUBJECT:
Consideration of the August 31 and September 30, 2015, Financial Reports-Debbie Mitchell
ITEM SUMMARY:
See Attachment
FINANCIAL IMPACT:
None
SUBMITTED BY:
Debbie Mitchell, Sr. Accountant
ATTACHMENTS:
Description Type
Financial Report Cover Memo
Page 6 of 22
5 5
Page 7 of 22
[BJ
lnterlocal Agreement
Supplies
Special Services
Travel & Training
Debt Service
DisperSal
Economic Development Projects -Undetermined
Molecular Templates Inc (MTI)
Airborn-8/12/08 (Year 3)
Speculative Commercial Building
Freeport Exemption Study
Tasus
Texas Life Sciences CC
Economic Development Projects
(3,461 ,445)
(69,000)
(66,316)
(70,000)
(6,000)
(67,500)
(3,740,261)
NOTES:
[Aj
[Bj
This report reflects only sales tax revenues received or retained in-house through the report date.
Includes $47,000 loan repayment from Radix.
Page 1 Page 8 of 22
Current Assets (cash)
Texstar & Texas DAILY, GEDCO
Investments -Certificates of Deposit & Money Market Accounts
Accounts Receivable
Total Cash on Hand
3,699,184
1,506,179
4,000
5,209,363
Page2 Page 9 of 22
T 0 L S
P.EGULJl_R CHECKS:
~-Li\.ND CHECKS :
DRZ~;.FTS:
EF'T:
NON CHECKS:
CHECKS:
ERE.ORS 0
03
NO
0
0
0. 00
BAL'\JK:
~S!·IGUNT
c, 582. .00
0 .00 .00
() .00 0 .OC
.00 :J
.00 0
0 .00 u.
P210UNT
.10
2' 0. . lO
Page 10 of 22
[8]
Debt Service
DisperSol
Economic Development Projects-Undetermined
Molecular Templates Inc (MTI)
Airborn-8/12/08 (Year 3)
Speculative Commercial Building
Freeport Exemption Study
Tasus
Texas Life Sciences CC
Economic Development Projects
Reservations
Contingency = 90 days sales tax receipts
201412015
(99,783)
(3,461 ,445)
(69,000)
(66,316)
(70,000)
(6,000)
(67,500)
343,219
201412015
(50,000)
(69,000)
(6,000)
150,000
(275,000)
343,219
1,500,000
8/3112015
(50,000)
(69,000)
NOTES:
[A]
[8]
This report reflects only sales tax revenues received or retained in-house through the report date.
includes $47,000 loan repayment from Radix.
Variance
Budget
Variance
Year to Date
-4%
(106,849) 154%
0%
-75%
0%
58%
Page 1 Page 11 of 22
Current Assets (cash)
Texstar & Texas DAILY, GEDCO
Investments-Certificates of Deposit & Money Market Accounts
Accounts Receivable
Total Current Assets
3,598,972
1,506,179
8,000
5,113,151
Page2 Page 12 of 22
VENDOR SE'L
BANK: JPI•1
DATE RF-...NGE: /2015 'T'HRU 8/31/2015
VENDOR I.D.
010740
·1021
T 0 T A L s
REGULAR CHECKS:
HAND CHECKS:
DRAFTS:
EFT:
NON CHECKS:
VOID CHECKS:
TOTAL ERRORS: 0
VENDOR SET: 03 BANK:
BANK: JPM TOTALS:
REPORT TOTALS:
JPM
BUTLERS L)U\ESIDE SERVICES LLC
DATA CTR t\TORLD CONFERNCE
NO
l
0
0
0
0
0 VOID DEBITS
VOID CREDITS
NO
TOTALS: 1
8
STATUS
R
CHECK
Dl\TE
8/06/2015
0. 00
0. 00
IN-VOICE
ANOUNT
4,027.25
INVOICE ANOUNI
4,027.25
0.00
0.00
0.00
0.00
0.00
INVOICE A\'10UNT
4,027.25
5,496.82
5,496.82
CHEC't':
DISCOUNCC' NC
214924
DISCOUNTS
0.00
0. 00
0. 00
0. 00
0 .00
0.00
DISCOUNTS
0.00
0 .00
.00
CHECK
STATUS
CHECK
4,027.25
CHECK ANOUNT
4 027.25
0.00
0.00
0.00
0.00
CHECK
4' .25
4,027.25
4,027.25
Page 13 of 22
As of September 30, 2015
Sales Tax History
October $ 68,384 $ 66,121 $ 70,264 $ 86,324 $ 91,863 $ 98,094 $ 6,231 6.78%
November 68,995 77,461 74,472 82,083 99,552 102,891 $ 3,339 3.35%
December 95,488 116,780 111,968 117,582 134,682 143,774 $ 9,092 6.75%
January 59,842 67,968 73,177 82,714 89,357 87,695 $ (1,662) -1.86%
February 56,253 57,904 72,946 77,890 86,901 89,107 $ 2,206 2.54%
March 95,911 108,015 105,822 115,564 114,355 123,951 $ 9,596 8.39%
April 70,351 72,100 81,362 84,420 106,002 102,671 $ (3,331) -3.14%
May 67,203 73,307 80,919 94,412 112,572 95,699 $ (16,873) -14.99%
June 105,435 101,012 99,664 114,132 123,306 130,589 $ 7,283 5.91%
July 82,159 69,781 89,969 92,765 102,435 108,994 $ 6,559 6.40%
August 74,900 75,202 85,792 92,735 98,015 102,888 $ 4,873 4.97%
September
Total
YTD 844,922 885,651 946,353 1,040,622 1 '159,040 i ,186,353 27,313 2.36%
Notes:
[a] Sales tax revenue from the Stale Comptroller is received two months in arrears.
Sales tax for February will actually be received in April.
$160,000
$140,000
$120,000
II) $100,000 (!)
:::'l
I:: $80,000 (!)
:>
(!) $60,000 0::
$40,000
$20,000
$-
Page 14 of 22
City of Georgetown, Texas
Georgetown Economic Development Corporation
October 26, 2015
SUBJECT:
Discussion and possible action regarding the benefit of commissioning a retail market study to
conduct research and provide recommendations to enhance existing retail areas and increase retail
tenancy in the Georgetown Community-Mark Thomas, Economic Development Director and
David Morgan, General Manager
ITEM SUMMARY:
The GEDCO Board is being asked to consider the benefit of commissioning a retail market study
to conduct research and provide recommendations to enhance existing retail areas and increase
retail tenancy in the Georgetown Community.
The study should include a market analysis and merchandising plan that will lead to active
recruitment of prominent retailers and increase the overall tenancy of those retailers in the
community.
These efforts are considered to be an integral part of the City’s overall strategies to maximize the
economic development retention and recruitment opportunities to strengthen our tax base within
the community.
FINANCIAL IMPACT:
To be determined.
SUBMITTED BY:
Shirley J. Rinn on behalf of David S. Morgan, City Manager
Page 15 of 22
City of Georgetown, Texas
Georgetown Economic Development Corporation
October 26, 2015
SUBJECT:
Discussion and possible action regarding the Project Progress Report—Mark Thomas, Economic
Development Director
ITEM SUMMARY:
The GEDCO Board has requested that staff provide a project progress and status report at each
meeting on all of the active projects discussed by the Board.
ATTACHEMENT:
1. Project Status Report
FINANCIAL IMPACT:
N/A
SUBMITTED BY:
Mark Thomas, Economic Development Director
ATTACHMENTS:
Description Type
Project Report Cover Memo
Page 16 of 22
Project Project Description
Approved by
Council Funded Monitoring Compliance Closed
Citigroup
$1.3 Million Grant for wastewater infrastructure disbursed in April
2008. 12/12/2006 Funded April 2008
Approved and
completed; Monitoring
Compliance No
Radix BioSolutions, Ltd.
Provided grant to assist with the work and future plans of Radix
BioSolutions at the TLCC. Agreement approved by GEDCO on
February 9, 2010 and Council approved the Agreement at its March
9, 2010 Meeting. Radix paid back $47K on 3/15/15.3/9/2010 Funded May 13, 2010
Yes, Final compliance
date is March 2018 No
Lone Star Circle of Care
Provided a grant not to exceed $387,000 for Qualified Expenditures
for future site improvements at 205 East University Avenue,
Georgetown, Texas. Loan Agreement and Promissory Note have
not been executed. Agreement approved by GEDCO on June 23,
2011 and Council approved the Agreement at its June 28, 2011
Meeting. 6/28/2011
Funded November and
December 2011
Yes, Final Compliance
Date is July 28, 2016 No.
Grape Creek
Provide a grant not to exceed $447,000 for 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 in Georgetown Agreement approved by GEDCO
on July 25, 2011 and Council approved the Agreement at its August
23, 2011 Meeting. Fourth Amended Performance Agreement, Lease
Agreement, and Promissory Note was approved by GEDCO on
August 20, 2012 and by the City Council on August 28, 2012. TIRZ
Agreement for $60,000 approved by City Council on 9-11-12. 8/23/2011 Funded
Yes, Final Compliance is
March 2018.No
Georgetown Winery
Provide a grant not to exceed $70,000 for Qualified Expenditures
described as equipment for wine production and an agreement to
maintain and operate the existing winery in Georgetown. Agreement
approved by GEDCO on July 25, 2011 and Council approved the
Agreement at its August 23, 2011 Meeting. 8/23/2011 Funded
Yes, Final Compliance
Date is June 30, 2016 No
DiFusion Technologies
Provide a grant not to exceed $92,000 for Qualified Expenditures
described as an ICP Spectrometer to be purchased by TLCC to be
leased to Dufusion under the terms of the Performance Agreement.
Qualified Expenditure to remain the Property of GEDCO unless
transferred to DiFusion per the terms of the Performance
Agreement.Agreement approved by GEDCO on October 17, 2011
and November 21, 2011 and Council approved the Agreement at its
December 13, 2011 Meeting. The GEDCO Board approved
additional requirements for the Performance Agreement on May 21,
2012. Approved by Council on July 10, 2012. In process of
resolving compliance issues with TLCC.7/10/2012 Funded
Yes, Final Compliance
Date is July 31, 2015 No
GEDCO PROJECT UPDATE AND STATUS REPORT
October 26, 2015
Page 17 of 22
Project Project Description
Approved by
Council Funded Monitoring Compliance Closed
GEDCO PROJECT UPDATE AND STATUS REPORT
October 26, 2015
Georgetown Indpendent School District
Provided a grant not to exceed $200,560 for the purchase of
qualified expenditures related to the equipment for the Engineering
Program and Laboratories at Georgetown and East View High
Schools. GISD will offer the MSSC Certifications, implement a Job
Placement Program, provide and annual report and annual tour of
the facilities to the GEDCO Board. Agreement was approved by
GEDCO on September 17, 2012 and the City Council on September
25, 2012. The GEDCO Board approved the GISD request to amend
the Performance Agreement to allow the purchase different
equipment than outlined in the original agreement on November 18,
2013. 9/17/2012 Partially Funded.
Yes. Final Compliance
based on life of
equipment. No
Texas Life Sciences Collaboration Center
(3)
Provide a grant of $150,000 for the maintenance of the TLCC.
Performance Agreement approved by GEDCO on 10/17/14. 11/11/2014 Funded Dec. 2014
Yes. Final Compliance
October 31, 2015 No.
The Rivery at Summit Conference Center
Provide a grant not to exceed $4.5 Million for Public Infrastructure
Improvements. Approved by the GEDCO Board on November 18,
2013. Approved by the City Council on December 10, 2013. 12/10/2013 Not Funded
Yes.Construction
Deadline is
June 30, 2016. No.
TASUS Texas Corporation
Provide a grant of $67,500 for job creation related to expansion of
manufacturing facilities. Approved by the City Council on February
25, 2014 and approved by the GEDCO Board on February 17, 2014 2/25/2014 Not Funded
Yes. Final Compliance
May 31, 2017 No.
Radiation Detection Corporation
Provide a grant of $320,000 for job creation related to the relocation
of the corporate offices to Georgetown. Approved by City Council
and GEDCO on July 23, 2013. 7/23/2013 Funded
Yes. Final Compliance
December 31, 2021 No
DisperSol
Provide a grant of $250,000 for job creation related to expansion of
manufacturing facilities. Approved by the GEDCO Board on August
18, 2014. Company earned $50K (= 10 eligible positions at
$10/job). Check delivered 4/17/15 to company. 10/16/2014 Partially Funded
Yes. Final Compliance
February 15, 2019 No.
Page 18 of 22
City of Georgetown, Texas
Georgetown Economic Development Corporation
October 26, 2015
SUBJECT:
Action out of Executive Session.
ITEM SUMMARY:
FINANCIAL IMPACT:
None
SUBMITTED BY:
Bridget Chapman, City Attorney
Page 19 of 22
City of Georgetown, Texas
Georgetown Economic Development Corporation
October 26, 2015
SUBJECT:
Sec. 551.071: CONSULTATION WITH ATTORNEY
Consultation with attorney regarding legal issues related to agenda items and other matters in
which (1) when the governmental body seeks the advice of its attorney about: (A) pending or
contemplated litigation; or (B) a settlement offer; or (2) on a matter in which the duty of the
attorney to the governmental body under the Texas Disciplinary Rules of Professional Conduct of
the State Bar of Texas clearly conflicts with this chapter.
ITEM SUMMARY:
FINANCIAL IMPACT:
N/A
SUBMITTED BY:
Bridget Chapman, City Attorney
Page 20 of 22
City of Georgetown, Texas
Georgetown Economic Development Corporation
October 26, 2015
SUBJECT:
Section 551.072. DELIBERATIONREGARDING 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 adetrimental effect on negotiations with third persons.
ITEM SUMMARY:
FINANCIAL IMPACT:
n/a
SUBMITTED BY:
Bridget Chapman, City Attorney
Page 21 of 22
City of Georgetown, Texas
Georgetown Economic Development Corporation
October 26, 2015
SUBJECT:
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.
ITEM SUMMARY:
FINANCIAL IMPACT:
N/A
SUBMITTED BY:
Bridget Chapman, City Attorney
Page 22 of 22