HomeMy WebLinkAboutAgenda_GEDCO_01.23.2017Notice of Meeting for the
Georgetown Economic Dev elopment Corporation and the Gov erning Body
of the City of Georgetown
January 23, 2017 at 4:00 PM
at Georgetown Public Safety Operations and Training Center, 3500 D B Wood Rd,
Georgetown, 78628 - Training Room C
The City o f G eo rgeto wn is committed to comp lianc e with the Americans with Dis abilities Ac t (ADA). If yo u
req uire as s is tanc e in participating at a p ublic meeting d ue to a disability, as d efined und er the ADA, reas onab le
as s is tance, ad ap tatio ns , or acc o mmo d ations will b e provid ed up o n req uest. P leas e c o ntact the City Sec retary's
Office, at leas t three (3) days prior to the sc hed uled meeting d ate, at (512) 930-3652 o r City Hall at 113 Eas t 8th
Street fo r add itional info rmation; TTY us ers ro ute through Relay Texas at 711.
Regular Session
(This Regular S es s io n may, at any time, b e rec es s ed to convene an Exec utive S es s io n fo r any p urpose
authorized b y the Op en Meetings Act, Texas Go vernment Co d e 551.)
A Co nsideration and approval of the minutes fo r Georgetown Ec o nomic Develo p ment Co rp o ration for the
Sp ecial Meeting held Regular Meeting Friday, No vember 4, and the regular meeting held Mo nday,
No vember 21, 2016--Kevin Kelly, Sec retary
B Co nsideration of the No vember and Dec ember, 2016 F inancial Reports --Leigh Wallac e, Financ e Manager,
GEDCO, F inance Direc tor, COG.
C Dis cus s ion and pos s ible actio n regarding the Staff Rep o rt —David Morgan, C ity Manager
-P erformance Agreement Report
-Retail Stud y
-Rep o rt from Planning
-Other Pro jec ts
D Dis cus s ion and pos s ible actio n regarding a Target Indus try Analysis--Mic haela Do llar, Econo mic
Development Directo r
E Actio n o ut o f Exec utive Session.
Executiv e Session
In compliance with the Op en Meetings Act, C hapter 551, Go vernment Code, Vernon's Texas Codes,
Annotated, the items lis ted below will be d is c us s ed in closed s es s io n and are s ubjec t to actio n in the regular
s es s io n.
F Sec. 551.071: CONSULTATION WITH ATTORNEY
Co nsultation with attorney regarding legal is s ues related to agenda items and other matters in whic h (1)
when the go vernmental body seeks the advic e o f its attorney ab o ut: (A) p ending o r c o ntemp lated
litigatio n; o r (B) a s ettlement o ffer; o r (2) o n a matter in which the d uty of the attorney to the go vernmental
body under the Texas Dis ciplinary Rules o f P ro fes s io nal Cond uc t o f the S tate Bar o f Texas clearly
c o nflic ts with this chap ter.
G Section 551.072. DELIBERATION REGARDING REAL PROPERTY
Dis cus s ion and pos s ible actio n to d elib erate the p urc hase,exc hange, leas e or value of real property for
Page 1 of 21
purp o s es authorized b y the Development C o rp o ration Ac t which disc us s io n in o p en s es s io n would have a
detrimental effect on negotiations with third pers ons .
H Section 551.087. DELIBERATION REGARDING ECONOMIC DEVELOPMENT
NEGOTIATIONS.
Delib eratio n regarding commerc ial or financ ial info rmation that the corp o ration has rec eived fro m a
bus iness pros pec t that the Georgetown Ec ono mic Develo p ment Co rp oratio n s eeks to have loc ate, stay, or
exp and in or near the territory of the City o f Georgetown and with whic h the C o rp o ration is cond uc ting
ec o nomic d evelopment nego tiatio ns; and/o r deliberatio n regarding the o ffer of a financ ial or o ther
incentive to a bus iness p ro s p ect that the C o rp o ration seeks to have lo cate, s tay, o r exp and in o r near the
territory o f the City o f Georgetown.
- Pro ject Cat
CERTIFICATE OF POSTING
I, Shelley No wling, C ity S ecretary fo r the C ity of Geo rgeto wn, Texas , d o hereby c ertify that this Notice of
Meeting was p o s ted at City Hall, 113 E. 8th Street, a p lace read ily acc es s ible to the general p ublic at all times ,
on the ______ d ay o f __________________, 2017, at __________, and remained so p o s ted fo r at leas t 72
c o ntinuo us ho urs p receding the sc heduled time o f s aid meeting.
____________________________________
S helley No wling, City Sec retary
Page 2 of 21
City of Georgetown, Texas
Georgetown Economic Development Corporation
January 23, 2017
SUBJECT:
Cons id eration and ap p ro val o f the minutes for Geo rgeto wn Econo mic Development Corporatio n fo r the
Spec ial Meeting held Regular Meeting Friday, Novemb er 4, and the regular meeting held Mond ay,
Novemb er 21, 2016--Kevin Kelly, Secretary
ITEM SUMMARY:
ATTACHMENTS:
Draft Minutes
FINANCIAL IMPACT:
None
SUBMITTED BY:
Tina Dunb ar fo r Kevin Kelly, Corporate Secretary
ATTACHMENTS:
Description Type
11-4-16 Cover Memo
11-21-16 Cover Memo
Page 3 of 21
GEDCO Minutes
November 4, 2016
Page 1 of 1
Minutes of the Special Meeting of the
Georgetown Economic Development Corporation
and the Governing Body of the
City of Georgetown, Texas
November 4, 2016
The Georgetown Economic Development Corporation of the City of Georgetown, Texas, met on
Friday, November 4, 2016.
Members
Present: Rachael Jonrowe, Bill Mateja, Jeff Parker, Hugh Brown, Steve Fought
Members
Absent: Kevin Kelly; Steve Klein
Staff
Present:
David Morgan, City Manager/General Manager; Wayne Reed, Assistant City Manager;
Michaela Dollar, Director of Economic Development; Conchita Gusman, Economic
Development Program Manager; Leah Wallace, Finance Director/Finance Manager; Tina
Dunbar, Administrative Assistant
MINUTES
Call to Order at 4:15 pm
Legislative Regular Session
A. Consideration and possible action to approve the reimbursement request for $4,500,000 for qualified
expenditures in the Summit at Rivery development.
Motion by Parker, second by Mateja to approve the reimbursement of $4,500,000 for qualified
expenditures in the Summit at Rivery development. (Approved 5-0)
Adjourn at 4:35 pm
ATTEST:
______________________________ ___________________________________
Kevin Kelly, Corporate Secretary Hugh Brown, President
Page 4 of 21
GEDCO Minutes
November 21, 2016
Page 1 of 2
Minutes of the Meeting of the
Georgetown Economic Development Corporation
and the Governing Body of the
City of Georgetown, Texas
November 21, 2016
The Georgetown Economic Development Corporation of the City of Georgetown, Texas, met on
Monday, November 21, 2016.
Members
Present: Jeff Parker, Hugh Brown, Steve Fought, Kevin Kelly; Steve Klein
Members
Absent: Rachael Jonrowe, Bill Mateja
Staff
Present:
David Morgan, City Manager/General Manager; Wayne Reed, Assistant City Manager;
Michaela Dollar, Director of Economic Development; Conchita Gusman, Economic
Development Program Manager; Leah Wallace, Finance Director/Finance Manager; Laurie
Brewer, Assistant City Manager; Debbie Mitchell, ; Tina Dunbar, Administrative Assistant
MINUTES
Call to Order at 4:00 pm
Legislative Regular Session
A Consideration and approval of the minutes for Georgetown Economic Development Corporation for the
Regular Meeting held Monday, October 24, 2016 and Special Meeting held Monday, November 4, 2016--
Kevin Kelly, Secretary
Motion by Fought, second by Parker to approve the October 24, 2016 minutes and the November 4,
2016 Special Minutes. (Approved 7-0)
B Presentation, discussion and possible action regarding the Texas Life-Sciences Collaboration Center –
Michael Douglas, TLCC Executive Director
Dr. Douglas gave a presentation on the TLCC and answered questions from the board.
C Consideration of the October, 2016 Financial Reports. Leigh Wallace, Finance Manager, GEDCO, Finance
Director, COG.
Wallace presented the report and answered questions from the board.
D Discussion and possible action regarding the Staff Report —David Morgan, City Manager -Performance
Agreement Report -Report from Planning -Other Projects
Gusman presented a report on an active Performance Agreement project. Dollar reported on the retail
study next steps and symposium marketing efforts and answered questions from the board.
Page 5 of 21
GEDCO Minutes
November 21, 2016
Page 2 of 2
E Action out of Executive Session.
Motion by Klein, second by Kelly to approve staff recommendation as discussed in Executive Session
regarding Project Cat.
Motion by Parker, second by Kelly to approve staff recommendation as discussed in Executive Session
regarding Project Juniors.
Motion by Brown, second by Klein to approve a grant to the TLCC as discussed in Executive Session.
Adjourn at 6:01 pm
ATTEST:
______________________________ ___________________________________
Kevin Kelly, Corporate Secretary Hugh Brown, President
Page 6 of 21
City of Georgetown, Texas
Georgetown Economic Development Corporation
January 23, 2017
SUBJECT:
Cons id eration o f the Novemb er and Decemb er, 2016 Financ ial Rep o rts--Leigh Wallace, F inance Manager,
GEDCO, Financ e Directo r, COG.
ITEM SUMMARY:
See Attachments
FINANCIAL IMPACT:
None
SUBMITTED BY:
Leigh Wallace, Financ e Manager, GEDCO F inanc e Direc tor, COG
ATTACHMENTS:
Description Type
report Cover Memo
Page 7 of 21
GEDCO Board Meeting Date: January 23, 2017 Item No. __________
GEORGETOWN ECONOMIC DEVELOPMENT CORPORATION
AGENDA ITEM COVER SHEET
_________________________________________________________________
SUBJECT:
Consideration of the November 30, 2016 and December 31, 2016 financial reports. Leigh
Wallace, Finance Manager, GEDCO, Finance Director, COG.
_________________________________________________________________
ITEM SUMMARY:
The corporate bylaws require the Finance Manager to present the monthly financial
reports to the Board. Included in these reports will be:
• Financial reports
• Sales Tax revenues
• Monthly expenditures
• Any other relevant financial information
Sales tax revenue is two months in arrears. Included in these reports is the sales tax
revenue collected in November and December for sales in September and October.
Payments made to vendors in the months of November and December are also included.
ATTACHMENTS:
Monthly Financial Reports
Sales Tax History
SUBMITTED BY:
Leigh Wallace
Finance Manager, GEDCO
Finance Director, COG
Page 8 of 21
YEAR-END YEAR-END
APPROVED NOVEMBER-16 YEAR TO DATE YEAR-END VARIANCE % VARIANCE
BUDGET W/ENCUMB W/ENCUMB PROJECTION FAV(UNFAV)FAV(UNFAV)
BEGINNING BALANCE 5,015,684 5,015,684 0 NA
OPERATING REVENUES
Sales Tax 1,468,750 0 5,794 1,468,750 0 NA
Interest 10,400 3,435 4,380 10,400 0 NA
Miscellaneous Revenue 60,321 0 0 60,321 0 NA
Lease Revenue (Grape Creek)48,000 4,000 8,000 48,000 0 NA
Total Operating Revenues 1,587,471 7,435 18,174 1,587,471 0 NA
OPERATING EXPENDITURES
Debt Service 115,839 0 0 115,839 0 NA
Principal Reduction 100,000 0 0 100,000 0 NA
Interest Expense 111,463 0 0 111,463 0 NA
Bond Issuance Costs 0 (114)(114)0 0 NA
Joint Services Allocation 197,722 16,477 32,954 197,722 0 NA
Supplies 300 0 0 300 0 NA
Special Services 7,500 0 33 7,500 0 NA
Travel & Training 1,500 0 0 1,500 0 NA
Promotional & Marketing Program 81,000 0 0 81,000 0 NA
Miscellaneous Expense 10,321 10,302 10,302 10,321 0 NA
Total Operating Expenditures 625,645 26,665 43,175 625,645 0 NA
TOTAL NET OPERATIONS 961,826 (19,230)(25,001)961,826 0 NA
NON-OPERATING EXPENDITURES
Catalyst 24,000 0 0 24,000 0 NA
DisperSol 60,000 0 0 60,000 0 NA
Economic Development Projects -Undetermined 5,370,322 0 0 5,370,322 0 NA
Radix 50,000 0 0 50,000 0 NA
Tasus 6,000 0 0 6,000 0 NA
Texas Life Sciences 100,000 0 0 100,000 0 NA
Total Non-Operating Expenditures 5,610,322 0 0 5,610,322 0 NA
TOTAL NET NON-OPERATIONS (5,610,322)0 0 (5,610,322)0 NA
EXCESS (DEFICIENCY) OF TOTAL
REVENUE OVER TOTAL
REQUIREMENTS (4,648,496)(19,230)(25,001)(4,648,496)0 NA
ENDING BALANCE 367,188 367,188 0 NA
RESERVED ENDING BALANCE 367,188 367,188
Georgetown Economic Development Corporation Fund
Year End Projection to Approved as of November 2016
Page 9 of 21
YEAR-END YEAR-END
APPROVED DECEMBER-16 YEAR TO DATE YEAR-END VARIANCE % VARIANCE
BUDGET W/ENCUMB W/ENCUMB PROJECTION FAV(UNFAV)FAV(UNFAV)
BEGINNING BALANCE 5,015,684 5,015,684 0 NA
OPERATING REVENUES
Sales Tax 1,468,750 113,823 119,617 1,468,750 0 NA
Interest 10,400 2,453 6,833 10,400 0 NA
Miscellaneous Revenue 60,321 10,302 10,302 60,321 0 NA
Lease Revenue (Grape Creek)48,000 4,000 12,000 48,000 0 NA
Total Operating Revenues 1,587,471 130,578 148,752 1,587,471 0 NA
OPERATING EXPENDITURES
Debt Service 115,839 0 0 115,839 0 NA
Principal Reduction 100,000 0 0 100,000 0 NA
Interest Expense 111,463 0 0 111,463 0 NA
Bond Issuance Costs 0 0 (114)0 0 NA
Joint Services Allocation 197,722 16,477 49,431 197,722 0 NA
Supplies 300 140 140 300 0 NA
Special Services 7,500 0 33 7,500 0 NA
Travel & Training 1,500 0 0 1,500 0 NA
Promotional & Marketing Program 81,000 15,224 15,224 81,000 0 NA
Miscellaneous Expense 10,321 0 10,302 10,321 0 NA
Total Operating Expenditures 625,645 31,841 75,016 625,645 0 NA
TOTAL NET OPERATIONS 961,826 98,737 73,736 961,826 0 NA
NON-OPERATING EXPENDITURES
Catalyst 24,000 0 0 24,000 0 NA
DisperSol 60,000 0 0 60,000 0 NA
Economic Development Projects -Undetermined 5,370,322 0 0 5,370,322 0 NA
Radix 50,000 0 0 50,000 0 NA
Tasus 6,000 0 0 6,000 0 NA
Texas Life Sciences 100,000 0 0 100,000 0 NA
Total Non-Operating Expenditures 5,610,322 0 0 5,610,322 0 NA
TOTAL NET NON-OPERATIONS (5,610,322)0 0 (5,610,322)0 NA
EXCESS (DEFICIENCY) OF TOTAL
REVENUE OVER TOTAL
REQUIREMENTS (4,648,496)98,737 73,736 (4,648,496)0 NA
ENDING BALANCE 367,188 367,188 0 NA
RESERVED ENDING BALANCE 367,188 367,188
Georgetown Economic Development Corporation Fund
Year End Projection to Approved as of December 2016
Page 10 of 21
As of December 31, 2016
Georgetown Economic Development Corporation
Sales Tax History
Variance % Var.
MONTH [a]2011-12 2012-13 2013-14 2014-15 2015-16 2016-17 To FY 15 To FY 15
October 70,264$ 86,324$ 91,863$ 98,094$ 106,050$ 114,748$ 8,698$ 8.20%
November 74,472 82,083 99,552 102,891 112,766 125,214 12,448$ 11.04%
December 111,968 117,582 134,682 143,774 148,200
January 73,177 82,714 89,357 87,695 96,563
February 72,946 77,890 86,901 89,107 108,117
March 105,822 115,564 114,355 123,951 133,492
April 81,362 84,420 106,002 102,671 108,977
May 80,919 94,412 112,572 95,699 120,418
June 99,664 114,132 123,306 130,589 142,767
July 89,969 92,765 102,435 108,994 119,534
August 85,792 92,735 98,015 102,888 132,582
September 88,334 125,197 119,473 125,201 135,378
Total 1,034,688$ 1,165,819$ 1,278,513$ 1,311,554$ 1,464,844$ 239,962$
YTD 144,736 168,407 191,415 200,985 218,816 239,962 21,146 9.66%
Notes:
[a]Sales tax revenue from the State Comptroller is received two months in arrears.
Sales tax for September is actually received in November.
$-
$20,000
$40,000
$60,000
$80,000
$100,000
$120,000
$140,000
$160,000
Re
v
e
n
u
e
s
Sales Tax 3 Year Trend
2014-15
2015-16
2016-17
Page 11 of 21
• Contracts - Other:
- Williamson County Tax Collector
Page 12 of 21
• Promo and Marketing Programs:
- Austin Chamber Opportunity
- A-Z Specialties, Inc.
- Williamson Co Economic
- Catalyst Commercial, Inc. (Transaction was a prior
year commitment, therefore will not be reflected in
the current year “Year to Date Actual” column.)
- Ernest Corder, DBA Redroc Austin
Page 13 of 21
City of Georgetown, Texas
Georgetown Economic Development Corporation
January 23, 2017
SUBJECT:
Disc ussion and p o s s ib le ac tion regard ing the S taff Report —David Morgan, City Manager
-P erformance Agreement Report
-Retail Stud y
-Report from P lanning
-Other Pro jec ts
ITEM SUMMARY:
The GEDCO Board has req uested that staff p ro vide a projec t p ro gress and s tatus report at eac h meeting
o n all of the ac tive p ro jects disc ussed b y the Bo ard .
FINANCIAL IMPACT:
N/A
SUBMITTED BY:
David S. Morgan, C ity Manager
ATTACHMENTS:
Description Type
Project Report Cover Memo
Page 14 of 21
Name Description
Start Date (Council
Approved)End Date $ Encumbered $ Expended
Citigroup
Grant for wastewater infrastructure for
construction of datacenter. 12/12/2006 12/31/2018 1,300,000 $ 1,300,000
DisperSol
Grant for job creation related to expansion
of manufacturing facilities.10/16/2014 2/15/2019 250,000 $ 70,000
Georgetown Indpendent School District
Grant for the purchase of qualified
expenditures related to the equipment for
the Engineering Program and Laboratories
at Georgetown and East View High
Schools. 9/25/2012 12/31/2016 200,560 200,560$
Grape Creek
Grant for reimbursement of Qualified
Expenditures for the lease/purchase and
future site improvements at 101 E. 7th
Street and 614 Main Street for the
operation of a winery on the Downtown
Square. 8/23/2011 3/1/2018 280,000 280,000$
Grape Creek
GEDCO purchase of building. GCV
currently under lease/purchase agreement
with right to exercise purchase at end of PA
for $447K.8/23/2011 3/1/2018 447,000$ 447,000$
Lone Star Circle of Care
Grant for Qualified Expenditures for future
site improvements at 205 East University
Avenue, Georgetown, Texas. Loan
Agreement and Promissory Note have
been executed. 6/28/2011 11/30/2017 387,000 $ 387,000
Radiation Detection Corporation
Grant for Qualified Expenditures and job
creation related to the relocation of the
corporate offices to Georgetown. 7/23/2013 12/31/2021 320,000 320,000$
Radix BioSolutions, Ltd.
Provided grant to assist with the work and
future plans of Radix BioSolutions at the
TLCC. Radix paid back $47K on 3/15/15.
Radix paid back $50K 3/10/16.3/9/2010 3/31/2018 250,000 $ 153,000
GEDCO - ACTIVE PERFORMANCE AGREEMENTS STATUS REPORT
January 23, 2017
Over Page 15 of 21
Name Description
Start Date (Council
Approved)End Date $ Encumbered $ Expended
GEDCO - ACTIVE PERFORMANCE AGREEMENTS STATUS REPORT
January 23, 2017
TASUS Texas Corporation
Provide a grant of $67,500 for job creation
related to expansion of manufacturing
facilities. 2/25/2014 5/31/2017 67,500 -$
The Summit at Rivery Park
Provide a grant not to exceed $4.5 Million
for Public Infrastructure Improvements. 12/10/2013 6/30/2016 4,500,000 $ -
Page 16 of 21
City of Georgetown, Texas
Georgetown Economic Development Corporation
January 23, 2017
SUBJECT:
Disc ussion and p o s s ib le ac tion regard ing a Target Ind ustry Analys is --Michaela Dollar, Ec o nomic
Develo p ment Direc tor
ITEM SUMMARY:
As Geo rgetown c ontinues to experience tremendous population gro wth, it is important to identify and
d evelop b usines s s ecto rs that will c reate new jo b s and elevate the c ity's quality o f life. A Target Indus try
Analysis can as s es s the City and region's exis ting bus iness s ecto rs , challenges , key competitive
ad vantages , and employment and demographic trend s . An analysis o f this info rmation along with natio nal
b usines s and ec ono mic trend s c an help id entify bus iness s ecto rs most likely to s uceed in Geo rgeto wn and,
therefo re, advanc e the lo cal econo my and opportunities fo r its c itizens .
GEDCO is being as ked to c o nsider the benefit of commissioning a Target Ind us try Analys is to assist the
City's economic develo p ment efforts by identifying b usines s sec tors to b es t foc us o ur recruitment
res o urc es .
FINANCIAL IMPACT:
To b e determined in bid p ro cess
SUBMITTED BY:
Michaela Dollar, Ec o nomic Development Direc to r
Page 17 of 21
City of Georgetown, Texas
Georgetown Economic Development Corporation
January 23, 2017
SUBJECT:
Ac tion out of Exec utive S es s io n.
ITEM SUMMARY:
FINANCIAL IMPACT:
None
SUBMITTED BY:
Charlie Mc Nab b , City Atto rney
Page 18 of 21
City of Georgetown, Texas
Georgetown Economic Development Corporation
January 23, 2017
SUBJECT:
Sec. 551.071: CONSULTATION WITH ATTORNEY
Cons ultation with atto rney regard ing legal iss ues related to agend a items and o ther matters in which (1)
when the go vernmental b o d y s eeks the advic e of its atto rney about: (A) p end ing or contemplated litigation;
o r (B) a settlement offer; or (2) o n a matter in whic h the duty of the attorney to the governmental b o d y
und er the Texas Dis c ip linary Rules o f Pro fes s ional C o nduct of the State Bar of Texas c learly conflicts with
this c hapter.
ITEM SUMMARY:
FINANCIAL IMPACT:
N/A
SUBMITTED BY:
Charlie Mc Nab b , City Atto rney
Page 19 of 21
City of Georgetown, Texas
Georgetown Economic Development Corporation
January 23, 2017
SUBJECT:
Section 551.072. DELIBERATION REGARDING REAL PROPERTY
Disc ussion and p o s s ib le ac tion to deliberate the purchas e,exchange, leas e o r value o f real p ro p erty for
p urposes autho rized by the Develo p ment Corporatio n Act whic h d is cus s ion in open session wo uld have a
d etrimental effec t o n nego tiatio ns with third p ers o ns .
ITEM SUMMARY:
FINANCIAL IMPACT:
n/a
SUBMITTED BY:
Charlie Mc Nab b , City Atto rney
Page 20 of 21
City of Georgetown, Texas
Georgetown Economic Development Corporation
January 23, 2017
SUBJECT:
Section 551.087. DELIBERATION REGARDING ECONOMIC DEVELOPMENT
NEGOTIATIONS.
Deliberatio n regard ing c o mmercial o r financ ial informatio n that the c o rp o ratio n has received from a
b usines s pros p ec t that the Geo rgeto wn Economic Development Corporation s eeks to have lo cate, s tay, o r
expand in or near the territo ry o f the City o f Geo rgeto wn and with whic h the Corporatio n is c o nducting
econo mic d evelo p ment negotiations ; and/o r d elib eration regard ing the o ffer o f a financial o r other inc entive
to a bus iness pros pec t that the Co rp o ration s eeks to have loc ate, stay, o r expand in or near the territory of
the City of Georgetown.
- Pro ject Cat
ITEM SUMMARY:
FINANCIAL IMPACT:
N/A
SUBMITTED BY:
Charlie Mc Nab b , City Atto rney
Page 21 of 21
