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Home My WebLink AboutAgenda_GEDCO_02.17.2020Notice of Meeting for the Georgetown E conomic Dev elopment Corporation of the City of Georgetown F ebruary 17, 2020 at 4:00 P M at 808 Martin L uther K ing Jr Street, Georgetown, T X 78626 T he C ity o f G eorgetown is c o mmitted to c ompliance with the Americans with Dis ab ilities 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, reasonable 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 contac t the C ity S ecretary's O ffic e, at leas t three (3) d ays p rio r to the s cheduled meeting date, at (512) 930-3652 or C ity Hall at 808 Martin Luther King Jr. S treet, G eo rgeto wn, T X 78626 for ad d itional info rmation; T T Y us ers route thro ugh R elay Texas at 711. L egislativ e Regular Agenda A C ons id eratio n and ap p ro val o f the Dec 16, 2019 G EDC O minutes --Hugh Bro wn, S ecretary B P resentation, d is cus s io n and p o s s ib le ac tio n o n the draft 2030 P lan Update. – S ofia Nels o n, P lanning Direc tor C C ons id eratio n o f the January 31, 2020 financ ial rep o rt.--Leigh Wallace, F inance Manager, G EDC O , F inanc e Direc to r, C O G . D Disc ussio n and p o s s ib le ac tion regard ing the S taff R eport – David Mo rgan, C ity Manager • P erformanc e Agreement R ep o rt • Activity R eport • O ther S taff Items E Ac tion out of Exec utive S es s io n E xecutiv e Session In c o mp lianc e with the O p en Meetings Act, C hap ter 551, G o vernment C od e, Vernon's Texas C o d es , Anno tated , the items lis ted b elo w will b e disc us s ed in c lo s ed session and are s ub ject to ac tion in the regular s es s io n. F Sec. 551.071: CON S ULTAT IO N WIT H AT TO R N E Y C ons ultatio n with atto rney regard ing legal is s ues related to agend a items and o ther matters in which (1) when the go vernmental body seeks the advic e o f its attorney ab o ut: (A) pend ing or contemplated litigatio n; o r (B) a s ettlement offer; or (2) on a matter in whic h the duty o f the atto rney to the governmental body under the Texas Disc ip linary R ules o f P rofes sional C ond uc t o f the S tate Bar o f Texas clearly c o nflic ts with this chap ter - C harlie Mc Nab b , C ity Atto rney G Section 551.072. D E LIB E R AT IO N R E GAR D IN G R E AL P R O P E RT Y Disc ussio n 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 purp o s es authorized b y the Develo p ment C o rp o ration 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. H Section 551.087. D E LIB E R AT IO N R E GAR D IN G E C ON O MIC D E VE LO P ME N T N E G O T IAT IO NS . Deliberation regard ing c o mmercial o r financ ial informatio n that the c o rporatio n has received from a bus iness pros pec t that the G eo rgeto wn Ec ono mic Development C o rporatio n s eeks to have loc ate, stay, Page 1 of 41 or expand in o r near the territo ry o f the C ity o f G eo rgeto wn and with whic h the C o rp o ration is c o nducting ec ono mic d evelopment negotiations ; and/o r deliberatio n regard ing the o ffer of a financ ial o r other inc entive to a b usines s prospec t that the C o rp o ration seeks to have loc ate, s tay, o r exp and in or near the territory of the C ity o f G eo rgeto wn. -P rojec t To rtilla Adjournment Adjourn meeting Ce rtificate of Posting I, R obyn Dens mo re, C ity S ec retary for the C ity of G eorgetown, Texas, do hereb y certify that this Notice of Meeting was p o s ted at C ity Hall, 808 Martin Luther King Jr. S treet, G eorgeto wn, T X 78626, a p lace readily acc es s ib le to the general p ublic as req uired by law, on the _____ day of _________________, 2020, at __________, and remained so p o s ted fo r at leas t 72 c o ntinuo us hours prec eding the sc heduled time of s aid meeting. __________________________________ R o b yn Dens more, C ity S ecretary Page 2 of 41 City of Georgetown, Texas Georgetown Economic Development Corporation February 17, 2020 S UB J E C T: C o nsideration and approval of the Dec 16, 2019 G EDC O minutes--Hugh Brown, S ec retary IT E M S UMMARY: F IN AN C IAL IMPAC T: N/A S UB MIT T E D B Y: Amy Mertink, Bo ard Liaison AT TAC H ME N T S: D escription Type Dec minutes Backup Material Page 3 of 41 GEDCO Minutes December 16, 2019 Page 1 of 1 Minutes of the Meeting of the Georgetown Economic Development Corporation City of Georgetown, Texas December 16, 2019 The Georgetown Economic Development Corporation of the City of Georgetown, Texas, met on Monday December 16, 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; Conchita Gusman, Business Retention Manager; David Morgan, City Manager; Katherine Clayton, Budget Analyst Guest Present: MINUTES Called to Order at 4:08 pm A. Consideration and approval of the minutes for the Georgetown Economic Development Corporation Meeting held on November 18, 2019--Hugh Brown, Secretary Motion to approve by Valerie Nicholson, 2nd by Ron Garland. Approved 7-0 B. Consideration of the November 30, 2019 financial report.--Leigh Wallace, Finance Manager, GEDCO, Finance Director, COG. Paul Diaz reviewed the financial report. 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 4:42 pm and returned to Regular Session at 4:55pm----- D. Action out of Executive Session. Motion to approve incentives for Project Beige as discussed in executive session by Tom Menke, 2nd by Hugh Brown, approved 7-0 Meeting adjourned at 4:58 pm Attest: Hugh Brown, Secretary Steve Bohnenkamp, President Page 4 of 41 City of Georgetown, Texas Georgetown Economic Development Corporation February 17, 2020 S UB J E C T: P res entation, dis c us s ion and possible action on the d raft 2030 P lan Update. – S o fia Nelson, P lanning Directo r IT E M S UMMARY: T he 2030 C omprehens ive P lan Update is nearing c o mp letion and staff is provid ing C ity o f G eo rgeto wn Boards and C ommis s ions an opportunity to review the full d raft p lan, ask q ues tio ns and p o s s ib ly recommend ad o p tion to the C ity C ounc il. T he s c hed ule fo r adoptio n o f the up d ate is below: • 2/18 P &Z meeting - P ub lic Hearing and R ec ommend ation • 2/25 C ity C ounc il - P ublic Hearing and 1st R ead ing • 3/10 C ity C ounc il - P ublic Hearing and 2nd R ead ing At this meeting, s taff will provid e a s hort overview o f the d raft 2030 C omp rehens ive P lan Up d ate inc luding goals and p olic ies for Land Us e, Williams Drive G ateway P lan, G ateways & Image C orridors, Hous ing and the Imp lementatio n P lan. A d raft o f the 2030 C o mp rehens ive P lan upd ate’s imp lementation plan, the final p art o f the plan up d ate, was presented to the C o uncil in January. T he imp lementation plan outlines three major s trategies : • R egulatory framework • Decision framework • P lans, programs and p artners hips Each strategy relates to the goals o utlined in the 2030 P lan up d ate, whic h were drafted us ing pub lic input fro m c o mmunity s urveys inc luding the first O n the Table, in whic h mo re than 1,400 p eo p le participated in conversatio ns to envis ion G eo rgeto wn’s future and an acc o mp anying online pub lic s urvey taken b y an ad d itional 1,460 p eo p le. T he full plan is availab le for review online at 2030.georgetown.o rg. F IN AN C IAL IMPAC T: n/a S UB MIT T E D B Y: Nat Waggoner, AIC P, Lo ng R ange P lanning Manager Page 5 of 41 City of Georgetown, Texas Georgetown Economic Development Corporation February 17, 2020 S UB J E C T: C o nsideration of the January 31, 2020 financ ial report.--Leigh Wallac e, F inanc e Manager, G E DC O , F inance Direc tor, C O G . IT E M S UMMARY: T he c o rp o rate bylaws req uire the F inanc e Manager to p res ent the mo nthly financ ial rep o rts to the Bo ard. Includ ed in thes e reports will be: •F inanc ial rep o rts •S ales Tax revenues •Mo nthly expend itures •Any o ther relevant financial informatio n S ales tax revenue is two months in arrears; therefo re the revenues reflect only the amo unt received , not actually earned, as o f the rep o rt d ate. A report on payments made to vendors in the month of July is als o inc luded. F IN AN C IAL IMPAC T: N/A S UB MIT T E D B Y: Leigh Wallace, F inance Directo r AT TAC H ME N T S: D escription Type Financial Report Backup Material Check Report Backup Material Page 6 of 41 F GEDCO Monthly Report GEDCO MONTHLY REPORT AS OF JANUARY 31, 2020 Please note the January period is still open. These figures are preliminary and unaudited. Operating revenue is comprised of sales tax and allocated interest. Sales tax revenue is budgeted at $1.98 million and is two months in arrears. Through the period, the City has received two months of sales tax collection and totals $356,715. This amount is well ahead of the budget at this point in the year. Both October and No vember returns saw large increases relative to the prior 12-month time period. Year to date, sales tax is up 18.56% compared to the same period in FY2019. The increase in sales tax is a combination of a few one -time in nature payments, new businesses, and continued growth in our core sectors. Allocated interest totals $40,910. Operating expense includes administrative charges, marketing costs, and special services. Administrative charges spent year to date include $81,590, or 33.33% of budget. Marketing efforts total $37,000, or 37% of budget. Expenses for special services total $9,108, or 30.36% of budget for FY2020. 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 $9.17 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 month, the only non-operating expense includes $356,235 for Holt Cat. GEDCO will make the debt service payments later in the fiscal year. 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 fu nd balances. Currently, the fund balance is only the budgeted figure and not the actual. It is anticipated staff will have that information around the end of February. City Council approved a CIP Rollforward resulting in $287,190 being moved forward from FY2019 to FY2020 budget to allow for projects to continue in the new fiscal year. This adjustment includes moving revenues and expenses budgeted but not spent in FY2019. The approved CIP Rollforward did include Holt Cat’s current project, totaling $175,000. 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 7 of 41 F GEDCO Monthly Report Fund Schedule as of January 31, 2020 420 - GEDCO FY2020 Budget Beginning Fund Balance 8,305,736 Operating Revenue FY2020 Budget FY2020 YTD Actuals FY2020 YTD Encumbrances FY2020 Actuals % of Budget Interest 76,000 40,910 - 40,910 53.83% Sales Tax 1,984,375 356,715 - 356,715 17.98% Operating Revenue Total 2,060,375 397,625 - 397,625 19.30% Operating Expense FY2020 Budget FY2020 YTD Actuals FY2020 YTD Encumbrances FY2020 Actuals % of Budget Administrative Charges 244,771 81,590 - 81,590 33.33% Marketing 100,000 40,361 (3,361) 37,000 37.00% Special Services 30,000 6,615 2,493 9,108 30.36% Miscellaneous Expense 550 - - - 0.00% Operating Expense Total 375,321 128,566 (868) 127,698 34.02% FY2020 Budget Available Operating Fund Balance 9,990,790 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 4,850,000 356,235 - 356,235 7.35% Economic Dev. Projects - Undetermined 4,017,104 - - - 0.00% Debt Service 311,880 - - - 0.00% Non-Operating Expense Total 9,178,984 356,235 - 356,235 3.88% FY2020 Budget Ending Fund Balance 811,806 CAFR Adjustment - Contingency Reserve 489,298 Debt Service Reserve 210,318 Available Fund Balance 112,190 Page 8 of 41 2/04/2020 12:54 PM A/P HISTORY CHECK REPORT PAGE: 1 VENDOR SET: 01 CITY OF GEORGETOWN BANK: * ALL BANKS DATE RANGE: 1/01/2020 THRU 1/31/2020 CHECK CHECK CHECK CHECK VENDOR I.D. NAME STATUS DATE AMOUNT DISCOUNT NO STATUS AMOUNT 70291 V-QUEST OFFICE MACHINES & SUPP C-CHECK V-QUEST OFFICE MACHINES VOIDED V 1/10/2020 256752 816.80CR C-CHECK VOID CHECK V 1/10/2020 256754 C-CHECK VOID CHECK V 1/10/2020 256759 C-CHECK VOID CHECK V 1/17/2020 256861 C-CHECK VOID CHECK V 1/31/2020 257075 C-CHECK VOID CHECK V 1/31/2020 257107 C-CHECK VOID CHECK V 1/31/2020 257108 C-CHECK VOID CHECK V 1/31/2020 257109 C-CHECK VOID CHECK V 1/31/2020 257153 * * 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: 9 VOID DEBITS 0.00 VOID CREDITS 816.80CR 816.80CR 0.00 TOTAL ERRORS: 0 NO INVOICE AMOUNT DISCOUNTS CHECK AMOUNT VENDOR SET: 01 BANK: * TOTALS: 9 816.80CR 0.00 0.00 BANK: * TOTALS: 9 816.80CR 0.00 0.00 Page 9 of 41 2/04/2020 12:54 PM A/P HISTORY CHECK REPORT PAGE: 2 VENDOR SET: 01 CITY OF GEORGETOWN BANK: JPM JP MORGAN CHASE DATE RANGE: 1/01/2020 THRU 1/31/2020 CHECK CHECK CHECK CHECK VENDOR I.D. NAME STATUS DATE AMOUNT DISCOUNT NO STATUS AMOUNT 12250 LAURIE BREWER C-E017007. LAURIE BREWER V 11/01/2019 255206 88.00CR 104951 AUSTIN CHAMBER OF COMMERCE I-8450 OPP AUSTIN 2020 R 1/10/2020 256665 420 5-0902-51-350 PROMO & MKTING PROGRAMS OPP AUSTIN 2020 10,000.00 10,000.00 80051 GIPSON GROUP LLC I-81520 COMMUNITY PROFILE BOOKLET R 1/10/2020 256716 420 5-0902-51-350 PROMO & MKTING PROGRAMS COMMUNITY PROFILE BO 2,883.88 2,883.88 57631 HOLT CAT I-APP 17-37-9000027 HOLT CAT R 1/31/2020 257104 420 9-0980-90-030 HOLT CAT HOLT CAT 356,235.00 356,235.00 * * T O T A L S * * NO INVOICE AMOUNT DISCOUNTS CHECK AMOUNT REGULAR CHECKS: 3 369,118.88 0.00 369,118.88 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: 1 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 5-0902-51-350 PROMO & MKTING PROGRAMS 12,883.88 420 9-0980-90-030 HOLT CAT 356,235.00 *** FUND TOTAL *** 369,118.88 NO INVOICE AMOUNT DISCOUNTS CHECK AMOUNT VENDOR SET: 01 BANK: JPM TOTALS: 4 369,030.88 0.00 369,118.88 BANK: JPM TOTALS: 4 369,030.88 0.00 369,118.88 REPORT TOTALS: 4 369,030.88 0.00 369,118.88 Page 10 of 41 2/04/2020 12:54 PM 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: 1/01/2020 THRU 1/31/2020 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: YES MANUAL ONLY: NO STUB COMMENTS: NO REPORT FOOTER: NO CHECK STATUS: NO PRINT STATUS: * - All ------------------------------------------------------------------------------------------------------------------------------------ Page 11 of 41 City of Georgetown, Texas Georgetown Economic Development Corporation February 17, 2020 S UB J E C T: Dis cus s io n and pos s ible actio n regarding the S taff R ep o rt – David Mo rgan, C ity Manager • P erfo rmanc e Agreement R eport • Ac tivity R ep o rt • O ther S taff I tems IT E M S UMMARY: T he G E DC O Bo ard has reques ted that s taff provid e a p ro ject progres s and s tatus rep o rt at each meeting o n all of the ac tive p ro jects disc ussed b y 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: D escription Type Activity Report Backup Material Project updates Backup Material Page 12 of 41 Economic Development Activity Report February 2020 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 Feb 19 Mar 19 Apr 19 May 19 Jun 19 Jul 19 Aug 19 Sep 19 Oct 19 Nov 19 Dec 19 Jan 20 Business Retention Activity Visits Assistance Requests Touches Page 15 of 41 Additional BRE Activity •Champion Site Prep expansion/retention agreement approved by council 1/28 •Manufacturers Alliance meeting 1/15 •Began planning a small business program in line with national small business week in May 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 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 De c 1 9 Ja n 2 0 Qualified Leads Comparison Leads Qualified We qualified for an average of 70% 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 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 De c 1 9 Ja n 2 0 Active Projects Development Hot Warm Cold Page 22 of 41 Recruitment Activity •Participated in the ICSC Red River Dealmaking in January •Kicking off direct targeting campaign with ROI, Inc. Page 23 of 41 Strategic Goal 3 Diversify workforce development and recruitment initiatives Page 24 of 41 Workforce Development Activity •Manufacturers Alliance 1/15 •Strengthening GISD relationship with existing programs and accountability workshops •Planning GISD high schools job fair for February •Working with Rural Area Capital Workforce Commission on a Manufacturing Workforce Development Grant program 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 •Compiled 2019 Economic Development Annual Report •Updated retail analysis information and marketing materials •Commercial Developers Twelve@12 on 2/13 •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 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 De c 1 9 Ja n 2 0 Construction Permit Applications Valuation (in millions) # of Permits Page 31 of 41 0 2 4 6 8 10 12 14 16 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 De c 1 9 Ja n 2 0 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 $3,500,000 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 FY 2020 Page 33 of 41 0.0% 0.5% 1.0% 1.5% 2.0% 2.5% 3.0% 3.5% 4.0% 4.5% 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 No v 1 9 De c 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 $360,000 infrastructure grant for fire suppression system pump house installation.9/10/2019 360,000$ 356,235$ 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 $600,000 to assist with construction of an access road and turn lane to maintain access to the Georgetown airport as area land development continues.3/8/2019 3/31/2022 600,000$ 4871 Williams Dr., LLC (Sedro Crossing) Infrastructure reimbursement grant of $250,000 to assist with improvements (utilities and access points) for construction of 89,500 square feet of commercial building space.3/26/2019 12/31/2023 250,000$ GEDCO - AGREEMENTS STATUS REPORT February 17, 2020 Page 35 of 41 Name Description Start Date (Council Approved)End Date $ Encumbered $ Expended GEDCO - AGREEMENTS STATUS REPORT February 17, 2020 Cockrum Commercial (Sedro Crossing) Infrastructure reimbursement grant of $250,000 to assist with improvements (utilities and access points) for construction of 60,000 square feet of new professional office space on Williams Dr.3/26/2019 12/31/2023 250,000$ Atmos Energy Infrastructure reimbursement grant of $148,499.36 for the installation of 776 feet gas main along 7th, 8th, and 9th streets.4/6/2019 148,499$ 143,674$ Texas Speed & Performance Job creation grant of $2K per job up to 100 jobs in 5 years.11/12/2019 11/12/2024 200,000$ 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 completed.12/10/2019 12/10/2024 N/A Champion Site Prep Infrastructure reimbursement grant associated with the development of 30,000sf headquarters facility representing a $13M capital investment where the company shall remain for at least 5 years..1/28/2020 within 5 years of the certificate of occupancy date 500,000$ Page 36 of 41 City of Georgetown, Texas Georgetown Economic Development Corporation February 17, 2020 S UB J E C T: Actio n o ut of Exec utive S ession IT E M S UMMARY: F IN AN C IAL IMPAC T: T B D 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 February 17, 2020 S UB J E C T: S ec. 551.071: C O NS ULTAT ION WIT H AT TOR N E Y C o nsultatio n with attorney regarding legal is s ues related to agenda items and other matters in whic h (1) when the go vernmental b o d y s eeks the advic e of its atto rney about: (A) pending o r c o ntemp lated litigation; o r (B) a s ettlement o ffer; o r (2) on a matter in which the d uty o f the atto rney to the go vernmental body und er the Texas Dis ciplinary R ules o f P rofes s io nal C o nduct of the S tate Bar of Texas c learly conflicts with this c hap ter - C harlie Mc Nabb, C ity Atto rney 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 February 17, 2020 S UB J E C T: S ection 551.072. D E LIB E R AT ION R E G ARD IN G R E AL P R OP E RT Y Dis cus s io n and pos s ible actio n to d elib erate the p urc hase,exc hange, lease or value of real property fo r p urposes autho rized by the Development C orporatio n Ac t which disc ussio n in o p en s es s io n would have a d etrimental effec t o n nego tiatio ns with third p ers o ns . 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 February 17, 2020 S UB J E C T: S ection 551.087. D E LIB E R AT ION R E G ARD IN G E C O N OMIC D E VE LO P ME N T N E GOT IAT ION S . Delib eration regarding commerc ial or financial info rmation that the corporation has rec eived fro m a b usines s pros p ec t that the G eorgetown Economic Develo p ment C orporation s eeks to have lo cate, s tay, o r expand in or near the territo ry o f the C ity of G eo rgeto wn and with whic h the C o rp o ration is cond uc ting 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 C orporatio n s eeks to have lo cate, s tay, or exp and in o r near the territo ry of the C ity o f G eorgetown. -P ro ject To rtilla 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 February 17, 2020 S UB J E C T: Ad jo urn 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, Bo ard Liaison Page 41 of 41