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Home My WebLink AboutAgenda_GEDCO_11.18.2019Notice of Meeting for the Georgetown E conomic Dev elopment Corporation of the City of Georgetown Nov ember 18, 2019 at 4:00 P M at 808 Martin L uther K ing Jr Street, Georgetown, T X 78626 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. 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 minutes for the G eorgetown Ec onomic Development C orporation Meeting held on O c t 21, 2019--Hugh Brown, S ec retary B C ons ideration of the O ctober 31, 2019 financial report.--Leigh Wallace, F inanc e Manager, G EDC O , F inanc e Direc tor, C O G . C Disc ussion and possible action regarding the S taff R eport – David Morgan, C ity Manager • P erformance Agreement R eport • Activity R eport • O ther S taff Items D 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. E Sec. 551.071: C ON S ULTAT ION WIT H AT TOR N E Y C ons ultation with attorney regarding legal is s ues related to agenda items and other matters in whic h (1) when the governmental body s eeks the advice of its attorney about: (A) pending or c ontemplated litigation; or (B) a settlement offer; or (2) on a matter in whic h the duty of the attorney to the governmental body under the Texas Dis ciplinary R ules of P rofessional C onduc t of the S tate Bar of Texas c learly conflicts with this chapter - C harlie Mc Nabb, C ity Attorney F Section 551.072. D E LIB E R AT ION R E G AR D IN G R E AL P R O P E RT Y Disc ussion and possible action to deliberate the purchas e,exchange, leas e or value of real property for purpos es authorized by the Development C orporation Act whic h dis cus s ion in open s es s ion would have a detrimental effec t on negotiations with third persons . 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 Page 1 of 41 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 Antler -P rojec t Wafer Adjournment Adjourn meeting 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 _________________, 2019, 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 41 City of Georgetown, Texas Georgetown Economic Development Corporation November 18, 2019 S UB J E C T: C onsideration and approval of the minutes for the G eorgetown Economic Development C orporation Meeting held on O ct 21, 2019--Hugh Brown, S ecretary IT E M S UMMARY: F IN AN C IAL IMPAC T: N/A S UB MIT T E D B Y: Amy Mertink, Board Liais on AT TAC H ME N T S: Description Type Oct minutes Backup Material Page 3 of 41 GEDCO Minutes October 21, 2019 Page 1 of 1 Minutes of the Meeting of the Georgetown Economic Development Corporation City of Georgetown, Texas October 21, 2019 The Georgetown Economic Development Corporation of the City of Georgetown, Texas, met on Monday October 21, 2019. Members Present: Steve Bohnenkamp, Steve Fought, Kevin Cummins, Hugh Brown, Valerie Nicholson, Ron Garland Members Absent: Tom Menke Staff Present: Michaela Dollar, Director of Economic Development; Laci Grobler, Sr Accountant; Amy Mertink, Finance Admin; Sofia Nelson, Planning Director Guest Present: MINUTES Called to Order at 4:01 pm A. Consideration and approval of the minutes for the Georgetown Economic Development Corporation Meeting held on August 19, 2019--Hugh Brown, Secretary Motion to approve by Ron Garland, 2nd by Valerie Nicholson. Approved 6-0 B. Consideration of the September 30, 2019 financial report.--Leigh Wallace, Finance Manager, GEDCO, Finance Director, COG. Laci Grobler reviewed the financial report. No voting needed. C. 2030 Comprehensive Plan Update – Sofia Nelson, Planning Director Sofia Nelson reviewed the comprehensive land use plan and how it has changed since the 2008 land use plan was made. No voting needed. D. Discussion and possible action regarding the Staff Report – David Morgan, City Manager • Performance Agreement Report • Activity Report • Other Staff Items Michaela Dollar reviewed the performance agreement report. Michaela Dollar also reviewed the activity report. No voting needed. E. Economic Development Strategic Plan Update – Michaela Dollar, Economic Development Director Michaela Dollar reviewed the updated strategic plan for Economic Development and noted the changes from the last plan. No action needed. -----GEDCO entered into Executive Session at 5:29 pm and returned to Regular Session at 5:35 pm----- F. Action out of Executive Session. Motion to approve incentives for Project Big C as discussed in executive session by Hugh Brown, 2nd by Ron Garland, approved 5-0. Valerie Nicholson absent for vote. Meeting adjourned at 5:37pm Attest: Hugh Brown, Secretary Steve Bohnenkamp, President Page 4 of 41 City of Georgetown, Texas Georgetown Economic Development Corporation November 18, 2019 S UB J E C T: C onsideration of the O c tober 31, 2019 financ ial report.--Leigh Wallac e, F inance Manager, G EDC O , F inance Director, C O G . IT E M S UMMARY: T he c orporate bylaws require the F inance Manager to pres ent the monthly financ ial reports to the Board. Included in these reports will be: •F inanc ial reports •S ales Tax revenues •Monthly expenditures •Any other relevant financ ial 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. A report on payments made to vendors in the month of July is also inc luded. F IN AN C IAL IMPAC T: N/A S UB MIT T E D B Y: Leigh Wallace, F inanc e Direc tor AT TAC H ME N T S: Description Type Financial Report Backup Material GEDCO Check Request Report Backup Material Page 5 of 41 F GEDCO Monthly Report GEDCO MONTHLY REPORT FY2019 Year End: The City has received the final sales tax collections for FY2019 from the State Comptroller’s Office. The graph to the right shows the sales tax comparisons for the last five fiscal years. Please note the FY2019 figure is unaudited at this point. Sales tax revenue for FY2019 was projected during the development of the FY2020 budget to finish at $1.86 million. It is anticipated sales tax revenue will finish at 99.1% of the projection. FY2020 Operating revenue is comprised of sales tax and allocated interest. Sales tax revenue is budgeted at $1.94 million and is two months in arrears. For this reason, sales tax collections through October total zero. Allocated interest totals $13,925 through the first period. Operating expense includes administrative charges, marketing costs, and special services. The administrative charges are typically processed monthly. However, at the time of this report, those charges have not been processed due to the workload requirements to close out FY2019. After the close out of FY2019, these charges will be booked monthly. By the end of FY2020, the actual expenses will be at the budgeted amount. Marketing expenses total 13,500 through the first month, while special service expenses total $9,108. Non-operating revenue is budgeted at zero. It is anticipated this fund will not be issuing any debt in FY2020. Non-operating expense is budgeted at $9 million and includes funding for debt service, known economic development projects, as well as funding for new economic development projects which may occur through the fiscal year. Through the first month, there are no non-operating expense charges. The City will make a debt service payment later in the fall and in the spring. Fund Schedule Development In the upcoming weeks, the accounting staff along with the City’s outside independent auditor Weaver and Associates will begin the Year-End Audit and Comprehensive Annual Financial Report or CAFR process. Following the completion of the CAFR, staff will update fund schedules with audited fund balances. Currently, the fund balance is only the budgeted figure and not the actual. It is anticipated staff will have that information around the January or February meeting. Later in the year as part of the FY2021 Budget Development Process, the Budget Office will develop year-end projections for FY2020. This occurs in April and May. After those projections are completed, staff will add an additional column to show those figures to the fund schedule and their proximity to budget. 1,311,553 1,464,844 1,568,934 1,703,424 1,842,411 0 200,000 400,000 600,000 800,000 1,000,000 1,200,000 1,400,000 1,600,000 1,800,000 2,000,000 FY2015 FY2016 FY2017 FY2018 FY2019 Sales Tax Revenue History Sales Tax Revenue Page 6 of 41 F GEDCO Monthly Report Fund Schedule 420 - GEDCO FY2020 Budget Beginning Fund Balance 8,018,546 Operating Revenue FY2020 Budget FY2020 Year- to-Date FY2020 Encumbrances FY2020 Actuals % Of Budget Sales Tax 1,984,375 - - - 0.00% Interest 76,000 13,925 - 13,925 18.32% Operating Revenue Total 2,060,375 13,925 - 13,925 0.68% Operating Expense FY2020 Budget FY2020 YTD Actuals FY2020 YTD Encumbrances FY2020 Actuals % of Budget Adminstrative Charges 244,771 - - - 0.00% Marketing 100,000 13,977 (477) 13,500 0 Special Services 30,000 6,615 2,493 9,108 30.36% Miscellaneous Expense 550 - - - 0.00% Operating Expense Total 375,321 20,592 2,016 22,608 6.02% FY2020 Budget Available Operating Fund Balance 9,703,600 Non-Operating Revenue FY2020 Budget FY2020 YTD Actuals FY2020 YTD Encumbrances FY2020 Actuals % Of Budget Bond Proceeds - - - - 0.00% Non-Operating Revenue Total - - - - 0.00% Non-Operating Expense FY2020 Budget FY2020 YTD Actuals FY2020 YTD Encumbrances FY2020 Actuals % of Budget Economic Dev. Projects 4,675,000 - - - 0.00% Economic Dev. Projects - Undetermined 4,017,104 - - - 0.00% Debt Service 311,880 - - - 0.00% NON-OPERATING EXPENDITURES Total 9,003,984 - - - 0.00% FY2020 Budget Ending Fund Balance 699,616 CAFR Adjustment - Contingency Reserve 489,298 Debt Service Reserve 210,318 Available Fund Balance - FY2020 Actuals Page 7 of 41 11/14/2019 11:38 AM A/P HISTORY CHECK REPORT PAGE: 1 VENDOR SET: 01 CITY OF GEORGETOWN BANK: * ALL BANKS DATE RANGE:10/01/2019 THRU 10/31/2019 CHECK CHECK CHECK CHECK VENDOR I.D. NAME STATUS DATE AMOUNT DISCOUNT NO STATUS AMOUNT 127931 MARRIOTT HOTEL SERVICES INC C-CHECK MARRIOTT HOTEL SERVICES UNPOST V 10/04/2019 254535 541.41CR 85301 RITA RAMJIT C-CHECK RITA RAMJIT VOIDED V 10/04/2019 254549 97.50CR 1 LANDON BARTLEIGH SMITH VOIDED C-CHECK LANDON BARTLEIGH SMITH VOIDED V 10/11/2019 254704 11,251.55CR C-CHECK VOID CHECK V 10/11/2019 254734 C-CHECK VOID CHECK V 10/11/2019 254735 104171 KIDDIE EXPRESS TRAIN LLC C-CHECK KIDDIE EXPRESS TRAIN LLCUNPOST V 10/18/2019 254913 435.00CR 104171 KIDDIE EXPRESS TRAIN LLC M-CHECK KIDDIE EXPRESS TRAIN LLCUNPOST V 10/24/2019 254913 C-CHECK VOID CHECK V 10/25/2019 255102 129121 WESLEY WRIGHT C-CHECK WESLEY WRIGHT VOIDED V 10/25/2019 255161 437.64CR * * T O T A L S * * NO INVOICE AMOUNT DISCOUNTS CHECK AMOUNT REGULAR CHECKS: 0 0.00 0.00 0.00 HAND CHECKS: 0 0.00 0.00 0.00 DRAFTS: 0 0.00 0.00 0.00 EFT: 0 0.00 0.00 0.00 NON CHECKS: 0 0.00 0.00 0.00 VOID CHECKS: 8 VOID DEBITS 0.00 VOID CREDITS 12,763.10CR 12,763.10CR 0.00 TOTAL ERRORS: 0 NO INVOICE AMOUNT DISCOUNTS CHECK AMOUNT VENDOR SET: 01 BANK: * TOTALS: 8 12,763.10CR 0.00 0.00 BANK: * TOTALS: 8 12,763.10CR 0.00 0.00 Page 8 of 41 11/14/2019 11:38 AM A/P HISTORY CHECK REPORT PAGE: 2 VENDOR SET: 01 CITY OF GEORGETOWN BANK: JPM JP MORGAN CHASE DATE RANGE:10/01/2019 THRU 10/31/2019 CHECK CHECK CHECK CHECK VENDOR I.D. NAME STATUS DATE AMOUNT DISCOUNT NO STATUS AMOUNT 137241 ROI RESEARCH ON INVESTMENT I-7721 ROI RESEARCH ON INVESTMENT R 10/04/2019 254553 420 5-0902-51-330 SPECIAL SERVICES ROI RESEARCH ON INVE 10,000.00 10,000.00 49160 LLOYD GOSSELINK ATTORNEYS AT L I-97504663 LLOYD GOSSELINK ATTORNEYS AT L R 10/18/2019 254922 420 5-0902-51-330 SPECIAL SERVICES LLOYD GOSSELINK ATTO 2,493.00 2,493.00 135981 GAZELLE.AI INC I-251 NA GAZELLE LICENSE R 10/25/2019 255057 420 5-0902-51-350 PROMO & MKTING PROGRAMS GAZELLE LICENSE 9,000.00 9,000.00 82061 TEXAS HEALTHCARE & BIOSCIENCE I-INV-1070 NA SPONSORSHIP/MEMBERSHIP R 10/25/2019 255133 420 5-0902-51-350 PROMO & MKTING PROGRAMS SPONSORSHIP/MEMBERSH 4,500.00 4,500.00 * * T O T A L S * * NO INVOICE AMOUNT DISCOUNTS CHECK AMOUNT REGULAR CHECKS: 4 25,993.00 0.00 25,993.00 HAND CHECKS: 0 0.00 0.00 0.00 DRAFTS: 0 0.00 0.00 0.00 EFT: 0 0.00 0.00 0.00 NON CHECKS: 0 0.00 0.00 0.00 VOID CHECKS: 0 VOID DEBITS 0.00 VOID CREDITS 0.00 0.00 0.00 TOTAL ERRORS: 0 ** G/L ACCOUNT TOTALS ** G/L ACCOUNT NAME AMOUNT ---------------------------------------------------------------------- 420 5-0902-51-330 SPECIAL SERVICES 12,493.00 420 5-0902-51-350 PROMO & MKTING PROGRAMS 13,500.00 *** FUND TOTAL *** 25,993.00 NO INVOICE AMOUNT DISCOUNTS CHECK AMOUNT VENDOR SET: 01 BANK: JPM TOTALS: 4 25,993.00 0.00 25,993.00 BANK: JPM TOTALS: 4 25,993.00 0.00 25,993.00 REPORT TOTALS: 4 25,993.00 0.00 25,993.00 Page 9 of 41 11/14/2019 11:38 AM A/P HISTORY CHECK REPORT PAGE: 3 SELECTION CRITERIA ------------------------------------------------------------------------------------------------------------------------------------ VENDOR SET: * - All VENDOR: ALL BANK CODES: All FUNDS: Include: 420 ------------------------------------------------------------------------------------------------------------------------------------ CHECK SELECTION CHECK RANGE: 000000 THRU 999999 DATE RANGE: 10/01/2019 THRU 10/31/2019 CHECK AMOUNT RANGE: 0.00 THRU 999,999,999.99 INCLUDE ALL VOIDS: YES ------------------------------------------------------------------------------------------------------------------------------------ PRINT OPTIONS SEQUENCE: CHECK NUMBER PRINT TRANSACTIONS: YES PRINT G/L: YES UNPOSTED ONLY: NO EXCLUDE UNPOSTED: NO MANUAL ONLY: NO STUB COMMENTS: NO REPORT FOOTER: NO CHECK STATUS: NO PRINT STATUS: * - All ------------------------------------------------------------------------------------------------------------------------------------ Page 10 of 41 City of Georgetown, Texas Georgetown Economic Development Corporation November 18, 2019 S UB J E C T: Dis cus s ion and pos s ible ac tion regarding the S taff R eport – David Morgan, C ity Manager • P erformanc e Agreement R eport • Ac tivity R eport • O ther S taff Items 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. F IN AN C IAL IMPAC T: N/A S UB MIT T E D B Y: David Morgan, C ity Manager AT TAC H ME N T S: Description Type Nov 2019 Activity Report Backup Material Performance Agreement Update Backup Material Page 11 of 41 Economic Development Activity Report November 2019 Page 12 of 41 Strategic Goal 1 Support existing businesses and industries Page 13 of 41 0 5 10 15 20 25 30 35 40 Nov 18 Dec 18 Jan 19 Feb 19 Mar 19 Apr 19 May 19 Jun 19 Jul 19 Aug 19 Sep 19 Oct 19 Business Retention Activity Visits Assistance Requests Touches Page 14 of 41 Additional BRE Activity •Sen. Schwertner visit with KJ Scientific •Airborn Annual ESOP event •Breakfast Bites & Downtown Lowdown – December 11 •Planning tour of Georgetown Behavioral Health for January Page 15 of 41 Strategic Goal 2 Enhance targeted recruitment of identified industries Page 16 of 41 0 2 4 6 8 10 12 14 16 Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Leads FY17 FY18 FY19 FY20 Rolling 12-Month Average Page 17 of 41 0 2 4 6 8 10 12 14 16 Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Qualified Leads FY17 FY18 FY19 Rolling 12-Month Average Page 18 of 41 0 2 4 6 8 10 12 No v 1 8 De c 1 8 Ja n 1 9 Fe b 1 9 Ma r 1 9 Ap r 1 9 Ma y 1 9 Ju n 1 9 Ju l 1 9 Au g 1 9 Se p 1 9 Oc t 1 9 Qualified Leads Comparison Leads Qualified We qualified for 69% of the leads received in the last 12 months Page 19 of 41 0 1 2 3 4 5 6 7 8 9 10 Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Site Visits FY17 FY18 FY19 FY20 Rolling 12-Month Average Page 20 of 41 0 10 20 30 40 50 60 70 80 90 Oc t 1 8 No v 1 8 De c 1 8 Ja n 1 9 Fe b 1 9 Ma r 1 9 Ap r 1 9 Ma y 1 9 Ju n 1 9 Ju l 1 9 Au g 1 9 Se p 1 9 Oc t 1 9 Active Projects Development Hot Warm Cold Page 21 of 41 Recruitment Activity •Participated in SIOR with the WilCo EDP – October 16-18 •Lead generation consultant Page 22 of 41 Strategic Goal 3 Diversify workforce development and recruitment initiatives Page 23 of 41 Workforce Development Activity •Manufacturers Day –October 4 •Healthcare Summit –December 6 •Scheduling Manufacturers Alliance for January •Following up with GISD from major employers Twelve@12 •Planning GISD high schools job fair for February Page 24 of 41 Strategic Goal 4 Encourage speculative development Page 25 of 41 Speculative Development Activity •Continuing to see interest in speculative projects, mostly industrial •Working with existing projects through development process Page 26 of 41 Overall Objective Tell our story to a broader local audience Page 27 of 41 Other Activity •December Twelve@12 Residential Realtors •Hosted Annual TDA conference •Completed the Community Profile update •Hosted Leadership Georgetown Economic Development Day •4th Annual Economic Development Symposium Page 28 of 41 Economic Indicators Page 29 of 41 - 200 400 600 800 1,000 1,200 1,400 $- $50.0 $100.0 $150.0 $200.0 $250.0 $300.0 $350.0 $400.0 No v 1 8 De c 1 8 Ja n 1 9 Fe b 1 9 Ma r 1 9 Ap r 1 9 Ma y 1 9 Ju n 1 9 Ju l 1 9 Au g 1 9 Se p 1 9 Oc t 1 9 Construction Permit Applications Valuation (in millions) # of Permits Page 30 of 41 0 2 4 6 8 10 12 14 16 No v 1 8 De c 1 8 Ja n 1 9 Fe b 1 9 Ma r 1 9 Ap r i l 1 9 Ma y 1 9 Ju n e 1 9 Ju l y 1 9 Au g 1 9 Se p t 1 9 Oc t 1 9 Certificates of Occupancy Issued Page 31 of 41 $- $500,000 $1,000,000 $1,500,000 $2,000,000 $2,500,000 $3,000,000 Oc t No v De c Ja n Fe b Ma r Ap r Ma y Ju n Ju l Au g Se p Sales Tax Collections FY 2017 FY 2018 FY 2019 Page 32 of 41 0.0% 0.5% 1.0% 1.5% 2.0% 2.5% 3.0% 3.5% 4.0% 4.5% Oc t 1 8 No v 1 8 De c 1 8 Ja n 1 9 Fe b 1 9 Ma r 1 9 Ap r 1 9 Ma y 1 9 Ju n e 1 9 Ju l y 1 9 Au g 1 9 Se p t 1 9 Unemployment Rate Page 33 of 41 $30,000 $35,000 $40,000 $45,000 $50,000 $55,000 20 1 6 Q 3 20 1 6 Q 4 20 1 7 Q 1 20 1 7 Q 2 20 1 7 Q 3 20 1 7 Q 4 20 1 8 Q 1 20 1 8 Q 2 20 1 8 Q 3 20 1 8 Q 4 20 1 9 Q 1 20 1 9 Q 2 Average Annual Wage Page 34 of 41 Name Description Start Date (Council Approved)End Date $ Encumbered $ Expended 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 KJ Scientific (KJS) Provide a grant of the equipment obtained in the TLCC brand acquisition to KJ Scientific (KJS) to retain the business in Georgetown.The retention equipment grant is for five years with KJS obligated to pay a pro-rated amount of $10,000 per year should they relocate outside of the City.2/27/2018 12/31/2022 $ 50,000 $ 50,000.00 Holt Caterpillar GEDCO to provide up to $360,000 infrastructure grant for fire suppression system pump house installation.9/10/2019 360,000$ Georgetown Development I, LLC Infrastructure reimbursement grant of $500,000 for qualified expenditures related to the development of 90,000 SF of speculative business park space in Georgetown at the Westinghouse Business Center.10/9/2018 6/1/2021 500,000$ WBW Development Infrastructure reimbursement grant of $200,000 for qualified expenditures and a $120,000 job creation grant for the creation of 30 jobs over 6 years related to the development of their headquarters location in Downtown Georgetown.2/12/2019 within 6 years of the certificate of occupancy date 320,000$ Confido III, LLC Infrastructure reimbursement grant for $600,00 to assis with construction of an access road and turn lane to maintain access to the Georgetown airport as area land development continues.3/8/2019 3/31/2022 600,000.00$ Sedro Crossing Infrastructure reimbursement grant of $250,000 to assist with utilities and access points for construction of 170,000 square feet of new professional office space on Williams Dr.3/26/2019 12/31/2023 250,000.00$ GEDCO - AGREEMENTS STATUS REPORT November 18, 2019 Page 35 of 41 Name Description Start Date (Council Approved)End Date $ Encumbered $ Expended GEDCO - AGREEMENTS STATUS REPORT November 18, 2019 Atmos Energy Infrastructure reimbursement grant of $148,499.36 for the installation of 776 feet gas main along 7th, 8th, and 9th streets.4/6/2019 148,499.36$ Page 36 of 41 City of Georgetown, Texas Georgetown Economic Development Corporation November 18, 2019 S UB J E C T: Action out of Exec utive S es s ion IT E M S UMMARY: F IN AN C IAL IMPAC T: T BD S UB MIT T E D B Y: C harlie Mc Nabb, C ity Attorney Page 37 of 41 City of Georgetown, Texas Georgetown Economic Development Corporation November 18, 2019 S UB J E C T: S ec. 551.071: C O N S ULTAT IO N WIT H AT TO R N E Y C onsultation with attorney regarding legal issues related to agenda items and other matters in which (1) when the governmental body seeks the advic e of its attorney about: (A) pending or contemplated litigation; or (B) a s ettlement offer; or (2) on a matter in which the duty of the attorney to the governmental body under the Texas Disc iplinary R ules of P rofes s ional C onduct of the S tate Bar of Texas clearly c onflic ts with this c hapter - C harlie Mc Nabb, C ity Attorney IT E M S UMMARY: F IN AN C IAL IMPAC T: N/A S UB MIT T E D B Y: C harlie Mc Nabb, C ity Attorney Page 38 of 41 City of Georgetown, Texas Georgetown Economic Development Corporation November 18, 2019 S UB J E C T: S ection 551.072. D E LIB E R AT IO N R E GAR D IN G R E AL P R OP E RT Y Dis cus s ion and pos s ible ac tion to deliberate the purc hase,exc hange, lease or value of real property for purposes authorized by the Development C orporation Ac t which disc ussion in open session would have a detrimental effect on negotiations with third pers ons. IT E M S UMMARY: F IN AN C IAL IMPAC T: N/A S UB MIT T E D B Y: C harlie Mc Nabb, C ity Attorney Page 39 of 41 City of Georgetown, Texas Georgetown Economic Development Corporation November 18, 2019 S UB J E C T: S ection 551.087. D E LIB E R AT IO N R E GAR D IN G E C O N OMIC D E VE LO P ME N T N E GOT IAT ION S . Deliberation regarding c ommercial or financ ial information that the corporation has received from a busines s prospec t that the G eorgetown Ec onomic Development C orporation s eeks to have loc ate, stay, or expand in or near the territory of the C ity of G eorgetown and with whic h the C orporation is c onducting economic development negotiations; and/or deliberation regarding the offer of a financ ial or other incentive to a bus iness pros pect that the C orporation seeks to have locate, s tay, or expand in or near the territory of the C ity of G eorgetown. -P roject Antler -P roject Wafer IT E M S UMMARY: F IN AN C IAL IMPAC T: N/A S UB MIT T E D B Y: C harlie Mc Nabb, C ity Attorney Page 40 of 41 City of Georgetown, Texas Georgetown Economic Development Corporation November 18, 2019 S UB J E C T: Adjourn meeting IT E M S UMMARY: F IN AN C IAL IMPAC T: N/A S UB MIT T E D B Y: Amy Mertink, Board Liais on Page 41 of 41