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Home My WebLink AboutAgenda_GEDCO_12.16.2019Notice of Meeting for the Georgetown E conomic Dev elopment Corporation of the City of Georgetown December 16, 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 Nov 18, 2019--Hugh Brown, S ec retary B C ons ideration of the November 30, 2019 financial report.-- P aul Diaz, Budget Manager 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 bus iness pros pect that the G eorgetown Economic Development C orporation seeks to have locate, s tay, Page 1 of 41 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 Beige 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 December 16, 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 Nov 18, 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 Nov 2019 minutes Backup Material Page 3 of 41 GEDCO Minutes November 18, 2019 Page 1 of 1 Minutes of the Meeting of the Georgetown Economic Development Corporation City of Georgetown, Texas November 18, 2019 The Georgetown Economic Development Corporation of the City of Georgetown, Texas, met on Monday November 18, 2019. Members Present: Steve Bohnenkamp, Steve Fought, Kevin Cummins, Hugh Brown, Valerie Nicholson, Ron Garland, Tom Menke Members Absent: Staff Present: Michaela Dollar, Director of Economic Development; Paul Diaz, Budget Manager; Amy Mertink, Finance Admin; Laurie Brewer, Assistant City Manager; Jennifer Schroenradt, Events and Marketing Coordinator; Conchita Gusman, Business Retention Manager Guest Present: Council Member Mike Triggs MINUTES Called to Order at 4:00 pm A. Consideration and approval of the minutes for the Georgetown Economic Development Corporation Meeting held on October 21, 2019--Hugh Brown, Secretary Motion to approve by Kevin Cummins, 2nd by Ron Garland. Approved 7-0 B. Consideration of the October 31, 2019 financial report.--Leigh Wallace, Finance Manager, GEDCO, Finance Director, COG. Paul Diaz reviewed the financial report and explained the new formatting. No voting needed. C. 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. -----GEDCO entered into Executive Session at 4:38 pm and returned to Regular Session at 5:02 pm----- E. Action out of Executive Session. Motion to approve incentives for Project Antler as discussed in executive session by Steve Bohnenkamp, 2nd by Hugh Brown, approved 6-0. Valerie Nicholson absent for vote. Motion to approve incentives for Project Wafer as discussed in executive session by Tom Menke, 2nd by Steve Bohnenkamp, approved 6-0. Valerie Nicholson absent for vote. Meeting adjourned at 5:03pm Attest: Hugh Brown, Secretary Steve Bohnenkamp, President Page 4 of 41 City of Georgetown, Texas Georgetown Economic Development Corporation December 16, 2019 S UB J E C T: C onsideration of the November 30, 2019 financ ial report.-- P aul Diaz, Budget Manager 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 AP Check Report Fund 420 12.2019 Backup Material GEDCO Monthly Financial Report 12.2019 Backup Material Page 5 of 41 12/12/2019 3:27 PM A/P HISTORY CHECK REPORT PAGE: 1 VENDOR SET: 01 CITY OF GEORGETOWN BANK: * ALL BANKS DATE RANGE:11/01/2019 THRU 11/30/2019 CHECK CHECK CHECK CHECK VENDOR I.D. NAME STATUS DATE AMOUNT DISCOUNT NO STATUS AMOUNT C-CHECK VOID CHECK V 11/01/2019 255257 C-CHECK VOID CHECK V 11/01/2019 255258 C-CHECK VOID CHECK V 11/01/2019 255259 C-CHECK VOID CHECK V 11/01/2019 255282 1 JESSICA BOESE UNPOST C-CHECK JESSICA BOESE UNPOST V 11/08/2019 255422 1,000.00CR 137661 MICHAEL PATROSKI C-CHECK MICHAEL PATROSKI VOIDED V 11/08/2019 255441 82.50CR 113541 NATHANIEL WAGGONER C-CHECK NATHANIEL WAGGONER VOIDED V 11/08/2019 255470 82.50CR 130341 SUSAN WATKINS C-CHECK SUSAN WATKINS VOIDED V 11/08/2019 255473 82.50CR C-CHECK VOID CHECK V 11/15/2019 255580 88841 TEXAS DEPT OF TRANSPORTATION C-CHECK TEXAS DEPT OF TRANSPORTAVOIDED V 11/22/2019 255745 9.36CR C-CHECK VOID CHECK V 11/29/2019 255810 C-CHECK VOID CHECK V 11/29/2019 255811 * * 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: 12 VOID DEBITS 0.00 VOID CREDITS 1,256.86CR 1,256.86CR 0.00 TOTAL ERRORS: 0 NO INVOICE AMOUNT DISCOUNTS CHECK AMOUNT VENDOR SET: 01 BANK: * TOTALS: 12 1,256.86CR 0.00 0.00 BANK: * TOTALS: 12 1,256.86CR 0.00 0.00 Page 6 of 41 12/12/2019 3:27 PM A/P HISTORY CHECK REPORT PAGE: 2 VENDOR SET: 01 CITY OF GEORGETOWN BANK: JPM JP MORGAN CHASE DATE RANGE:11/01/2019 THRU 11/30/2019 CHECK CHECK CHECK CHECK VENDOR I.D. NAME STATUS DATE AMOUNT DISCOUNT NO STATUS AMOUNT 23371 GRESHARE ENTERPRISES INC I-45890 NAME TAG - JOE CARNEY V 7/19/2019 252614 14.50 23371 GRESHARE ENTERPRISES INC M-CHECK GRESHARE ENTERPRISES INCUNPOST V 11/07/2019 252614 14.50CR 136261 SPENSER VANBUREN I-71919 SPENSER VANBUREN V 7/19/2019 252748 286.00 136261 SPENSER VANBUREN M-CHECK SPENSER VANBUREN UNPOST V 11/07/2019 252748 286.00CR 127541 TIFFANY HUNTER I-R002984 TIFFANY HUNTER V 7/26/2019 252862 169.50 127541 TIFFANY HUNTER M-CHECK TIFFANY HUNTER UNPOST V 11/07/2019 252862 169.50CR 06711 PROGRESSIVE COMMERCIAL AQUATIC I-IA3435 CW POOL CHEMICALS V 9/20/2019 254238 I-IA3436 CW POOL CHEMICALS V 9/20/2019 254238 I-IA3437 CT MURIATIC ACID 2019 V 9/20/2019 254238 I-IA3438 CT MURIATIC ACID 2019 V 9/20/2019 254238 6,402.48 06711 PROGRESSIVE COMMERCIAL AQUATIC M-CHECK PROGRESSIVE COMMERCIAL AUNPOST V 11/06/2019 254238 6,402.48CR 127931 MARRIOTT HOTEL SERVICES INC I-CR-10012019 MARRIOTT HOTEL SERVICES INC V 10/04/2019 254535 541.41 127931 MARRIOTT HOTEL SERVICES INC M-CHECK MARRIOTT HOTEL SERVICES UNPOST V 11/06/2019 254535 541.41CR 1 CRYSTAL FONTENOT I-201910106278 CRYSTAL FONTENOT V 10/11/2019 254597 52.82 1 CRYSTAL FONTENOT UNPOST M-CHECK CRYSTAL FONTENOT UNPOST V 11/18/2019 254597 52.82CR 1 Oscar Lara I-201910106287 Oscar Lara V 10/11/2019 254622 43.90 1 Oscar Lara UNPOST M-CHECK Oscar Lara UNPOST V 11/18/2019 254622 43.90CR Page 7 of 41 12/12/2019 3:27 PM A/P HISTORY CHECK REPORT PAGE: 3 VENDOR SET: 01 CITY OF GEORGETOWN BANK: JPM JP MORGAN CHASE DATE RANGE:11/01/2019 THRU 11/30/2019 CHECK CHECK CHECK CHECK VENDOR I.D. NAME STATUS DATE AMOUNT DISCOUNT NO STATUS AMOUNT 137061 HOT DOG MARKETING LLC I-1029 NA 12 VIDEOS R 11/01/2019 255246 420 5-0902-51-350 PROMO & MKTING PROGRAMS 12 VIDEOS 476.98 476.98 69321 JERRY WALKER I-19106 JERRY WALKER R 11/01/2019 255249 420 5-0902-51-330 SPECIAL SERVICES JERRY WALKER 6,615.00 6,615.00 119951 HINES GEORGETOWN HOTEL LLC I-M-FUYVN5R 101119 NA SHERATON LUNCHEON R 11/01/2019 255295 420 5-0902-51-350 PROMO & MKTING PROGRAMS SHERATON LUNCHEON 7,500.00 7,500.00 * * T O T A L S * * NO INVOICE AMOUNT DISCOUNTS CHECK AMOUNT REGULAR CHECKS: 3 14,591.98 0.00 14,591.98 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: 7 VOID DEBITS 0.00 VOID CREDITS 7,510.61CR 7,510.61CR 0.00 TOTAL ERRORS: 0 ** G/L ACCOUNT TOTALS ** G/L ACCOUNT NAME AMOUNT ---------------------------------------------------------------------- 420 5-0902-51-330 SPECIAL SERVICES 6,615.00 420 5-0902-51-350 PROMO & MKTING PROGRAMS 7,976.98 *** FUND TOTAL *** 14,591.98 NO INVOICE AMOUNT DISCOUNTS CHECK AMOUNT VENDOR SET: 01 BANK: JPM TOTALS: 10 14,591.98 0.00 14,591.98 BANK: JPM TOTALS: 10 14,591.98 0.00 14,591.98 REPORT TOTALS: 10 14,591.98 0.00 14,591.98 Page 8 of 41 12/12/2019 3:27 PM A/P HISTORY CHECK REPORT PAGE: 4 SELECTION CRITERIA ------------------------------------------------------------------------------------------------------------------------------------ VENDOR SET: * - All VENDOR: ALL BANK CODES: All FUNDS: Include: 420 ------------------------------------------------------------------------------------------------------------------------------------ CHECK SELECTION CHECK RANGE: 000000 THRU 999999 DATE RANGE: 11/01/2019 THRU 11/30/2019 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 9 of 41 F GEDCO Monthly Report GEDCO MONTHLY REPORT AS OF NOVEMBER 30, 2019 Please note the November period is still open. These figures are preliminary and unaudited. Operating Operating Operating Operating rrrrevenueevenueevenueevenue is comprised of sales tax and allocated interest. Sales tax revenue is budgeted at $1.98 million. There are two parts to sales tax revenue. The largest part is the amount the City receives from the State Comptroller’s Office. This revenue is received two months in arrears. December will be the first period those funds will appear in the fund schedule. The second part of sales tax is related to self-retained sales tax the City collects on utility billing. Through the period, this smaller amount of self-retained sales tax totals $10,904. Allocated interest totals $25,992. Operating eOperating eOperating eOperating expense xpense xpense xpense 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 second month, while special service expenses total $9,108. NonNonNonNon----operating revenue operating revenue operating revenue operating revenue is budgeted at zero. It is anticipated this fund will not be issuing any debt in FY2020. NonNonNonNon----operating expense operating expense operating expense 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 second 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 DevelopmentFund Schedule DevelopmentFund Schedule DevelopmentFund 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. Staff brought a CIP Rollforward Amendment to Council this month. Staff proposed to rollforward one project totaling $175,000 for Holt Cat. Pending the approval of the budget amendment in January, staff will update the fund schedule to reflect the CIP Rollforward Amendment in February. 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. Page 10 of 41 F GEDCO Monthly Report Fund Schedule as of November 30, 2019 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 10,904 - 10,904 0.55% Interest 76,000 25,992 - 25,992 34.20% Operating Revenue Total 2,060,375 36,896 - 36,896 1.79% 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 13.50% 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% 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 Available Non-Operating Fund Balance 699,616 FY2020 Budget Ending Fund Balance 699,616 CAFR Adjustment - Contingency Reserve 489,298 Debt Service Reserve 210,318 Available Fund Balance - FY2020 Actuals Page 11 of 41 City of Georgetown, Texas Georgetown Economic Development Corporation December 16, 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 Eco Devo Activity Report Dec 2019 Backup Material Dec 2019 Project Update Summary Backup Material Page 12 of 41 Economic Development Activity Report December 2019 Page 13 of 41 Strategic Goal 1 Support existing businesses and industries Page 14 of 41 0 5 10 15 20 25 30 35 40 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 No v 1 9 Business Retention Activity Visits Assistance Requests Touches Page 15 of 41 Additional BRE Activity •Texas Speed expansion approved by council 11/12 •CityCorp retention/expansion approved by council 11/26 •Xycarb temporary expansion facilities open •Breakfast Bites/Downtown Lowdown 12/11 •Manufacturers Alliance meeting 1/15 Page 16 of 41 Strategic Goal 2 Enhance targeted recruitment of identified industries 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 Leads FY18 FY19 FY20 Rolling 12-Month Average Page 18 of 41 0 2 4 6 8 10 12 Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Qualified Leads FY18 FY19 FY20 Rolling 12-Month Average Page 19 of 41 0 2 4 6 8 10 12 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 No v 1 9 Qualified Leads Comparison Leads Qualified We qualified for 66% of leads received in the last 12 months Page 20 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 FY18 FY19 FY20 Rolling 12-Month Average Page 21 of 41 0 10 20 30 40 50 60 70 80 90 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 No v 1 9 Active Projects Development Hot Warm Cold Page 22 of 41 Recruitment Activity •Costco Wholesale approved by council 12/10 •Preparing for ICSC Red River Dealmaking in January Page 23 of 41 Strategic Goal 3 Diversify workforce development and recruitment initiatives Page 24 of 41 Workforce Development Activity •Healthcare Summit 12/6 •Manufacturers Alliance 1/15 •Strengthening GISD relationship with existing programs •Planning GISD high schools job fair for February Page 25 of 41 Strategic Goal 4 Encourage speculative development Page 26 of 41 Speculative Development Activity •Continuing to work with prospective industrial speculative development •Working with existing projects through development process •Looking for proactive infrastructure scenarios Page 27 of 41 Overall Objective Tell our story to a broader local audience Page 28 of 41 Other Activity •Hosted the 4th Annual Economic Development Symposium 11/1 •Residential Realtors Twelve@12 on 12/6 •Sponsored the ABJ’s WilCo Growth Summit on 12/12 •Prepping for the WilCo EDP Site Selector fam tour in April Page 29 of 41 Economic Indicators Page 30 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 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 No v 1 9 Construction Permit Applications Valuation (in millions) # of Permits Page 31 of 41 0 2 4 6 8 10 12 14 16 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 No v 1 9 Certificates of Occupancy Issued Page 32 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 33 of 41 0.0% 0.5% 1.0% 1.5% 2.0% 2.5% 3.0% 3.5% 4.0% 4.5% 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 Oc t 1 9 Unemployment Rate 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 December 16, 2019 Page 35 of 41 Name Description Start Date (Council Approved)End Date $ Encumbered $ Expended GEDCO - AGREEMENTS STATUS REPORT December 16, 2019 Atmos Energy Infrastructure reimbursement grant of $148,499.36 for the installation of 776 feet gas main along 7th, 8th, and 9th streets.4/6/2019 148,499.36$ 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 Motion Commercial Properties 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 --------- Atmos Energy (Lakeway Extension) Extension of natural gas line for any GEDCO applicable project 12/10/2019 12/10/2024 $400,000 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 12/10/2019 12/10/2024 N/A Page 36 of 41 City of Georgetown, Texas Georgetown Economic Development Corporation December 16, 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 December 16, 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 December 16, 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 December 16, 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 Beige 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 December 16, 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