HomeMy WebLinkAboutAgenda_GEDCO_02.21.2019Notice of Meeting for the
Georgetown E conomic Dev elopment Corporation
of the City of Georgetown
F ebruary 21, 2019 at 4:30 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 Monday January 28, 2019--S teve Bohnenkamp, S ecretary
B C ons ideration of the January 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
• Ac tivity 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
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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 Ac cess
C E RT IF IC AT E O F P O S T IN G
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 pos ted at C ity Hall, 808 Martin Luther King Jr. S treet, G eorgetown, T X 78626, a place readily
ac cessible to the general public at all times, on the ______ day of __________________, 2019, at
__________, and remained so pos ted for at least 72 continuous hours preceding the sc heduled time of s aid
meeting.
____________________________________
R obyn Densmore, C ity S ecretary
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City of Georgetown, Texas
Georgetown Economic Development Corporation
February 21, 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 Monday January 28, 2019--S teve Bohnenkamp, S ec retary
IT E M S UMMARY:
Minutes attac hed
F IN AN C IAL IMPAC T:
N/A
S UB MIT T E D B Y:
S teve Bohnenkamp, S ecretary
AT TAC H ME N T S:
Description Type
Jan 28, 2019 minutes Backup Material
Page 3 of 30
GEDCO Minutes
January 29, 2019
Page 1 of 1
Minutes of the Meeting of the
Georgetown Economic Development Corporation
City of Georgetown, Texas
January 28, 2019
The Georgetown Economic Development Corporation of the City of Georgetown, Texas, met on Monday, January 28, 2019.
Members
Present: Tom Menke, Jeff Parker, Steve Bohnenkamp, Kevin Kelly, Valerie Nicholson, Bill Mateja
Members
Absent: Steve Fought
Staff
Present:
David Morgan, City Manager; Michaela Dollar, Director of Economic Development; Wayne Reed, Assistant
City Manager; Conchita Gusman, Business Retention and Expansion Program Manager; Paul Diaz, Budget
Manager; Tina Dunbar, Marketing Coordinator
Guest
Present: Mary Calixtro
MINUTES
Call to Order at 4:03 pm
A Consideration and approval of the minutes for Georgetown Economic Development Corporation for the Regular Meeting
held Monday, November 19, 2018—Steve Bohnenkamp, Secretary
Motion by Parker, second by Menke to approve the November 19, 2018 minutes. (Approved 6-0)
B. Consideration of the September 30, October 31, 2018, November 30, 2018, and December 31, 2018 financial reports.
Leigh Wallace, Finance Manager, GEDCO, Finance Director, COG
Diaz presented the financial reports and answered questions from the Board.
C. Discussion and possible action regarding the Staff Report —David Morgan, City Manager
- Performance Agreement Report
- Activity Report
- Other Staff Items
Morgan went over the performance agreement report. After thanked by Mateja for his recent presentation on the
electric rate issue, Morgan explained the issue to members who had not seen the presentation. Dollar presented the
Activity Report and answered questions from the Board.
GEDCO entered into Executive Session at 4:40 p.m. and returned to Regular Session at 4:55 p.m.
D Action out of Executive Session.
Motion by Bohnenkamp, second by Mateja to approve incentives for Project Gear as discussed in executive session.
(Approved 6-0)
Motion by Parker, second by Bohnenkamp to adjorn at 5:05 p.m.
Attest:
Steve Bohnenkamp, Corporate Secretary Kevin Kelly, President
Page 4 of 30
City of Georgetown, Texas
Georgetown Economic Development Corporation
February 21, 2019
S UB J E C T:
C onsideration of the January 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 inancial 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 January is
als o included.
F IN AN C IAL IMPAC T:
N/A
S UB MIT T E D B Y:
Leigh Wallace, F inanc e Manager, G EDC O , F inanc e Direc tor, C O G
AT TAC H ME N T S:
Description Type
Jan Packet Backup Material
Page 5 of 30
GEDCO Board Meeting Date: February 18, 2019 Item No. __________
GEORGETOWN ECONOMIC DEVELOPMENT CORPORATION
AGENDA ITEM COVER SHEET
_________________________________________________________________
SUBJECT:
Consideration of the January 31, 2019 financial report. 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; therefore the revenues reflect only the amount
received, not actually earned, as of the report date. A report on payments made to
vendors in the month of January is also included.
ATTACHMENTS:
Monthly Financial Report
Sales Tax History
SUBMITTED BY:
Leigh Wallace
Finance Manager, GEDCO
Finance Director, COG
Page 6 of 30
APPROVED BUDGET CURRENT PERIOD
YEAR TO DATE
(W/ENCUMB)
YEAR-END
PROJECTION
BEGINNING FUND BALANCE 6,853,073 6,853,073 6,853,073
OPERATING REVENUES
Interest 40,300 15,354 55,879 40,300
Sales Tax 1,768,275 135,076 298,940 1,768,275
OPERATING REVENUES Total 1,808,575 150,430 354,819 1,808,575
OPERATING EXPENDITURES
Joint Services Allocation 238,622 19,885 79,541 238,622
Miscellaneous Expense 50 - - 50
Promotional & Marketing Program 100,000 16,974 53,829 100,000
Special Services 30,000 - - 30,000
Travel & Training 500 - - 500
OPERATING EXPENDITURES Total 369,172 36,859 133,370 369,172
TOTAL NET OPERATIONS 1,439,403 113,571 221,449 1,439,403
NON-OPERATING EXPENDITURES
Principal Reduction 80,568 - - 80,568
Debt Service 205,069 - - 205,069
Interest Expense 23,157 - - 23,157
Atmos Energy 146,096 - - 146,096
DisperSol 50,000 - - 50,000
Economic Development Projects -Undetermined 7,000,517 - - 7,000,517
Holt Cat 185,000 - - 185,000
Radiation Detection Company 150,000 - - 150,000
NON-OPERATING EXPENDITURES Total 7,840,407 - - 7,840,407
TOTAL NET NON-OPERATIONS (7,840,407) - - (7,840,407)
EXCESS (DEFICIENCY) OF TOTAL REVENUE OVER TOTAL
REQUIREMENTS (6,401,004) 113,571 221,449 (6,401,004)
ENDING FUND BALANCE 452,069 7,074,522 452,069
RESERVES
Contingency 442,069 442,069 442,069
RESERVES Total 442,069 - 442,069 442,069
AVAILABLE FUND BALANCE 10,000 6,632,453 10,000
Georgetown Economic Development Corporation Fund
Year-End Projection to Approved: Jan FY 2019
Page 7 of 30
As of January 31, 2019
Georgetown Economic Development Corporation
Sales Tax History
Variance % Var.
MONTH [a]2014-15 2015-16 2016-17 2017-18 2018-19 To FY 17 To FY 17
October 98,094$ 106,050$ 114,748$ 124,478$ 159,033$ 34,555$ 27.76%
November 102,891 112,766 125,214 127,063 135,079 8,016$ 6.31%
December 143,774 148,200 160,542 162,940
January 87,695 96,563 110,006 115,291
February 89,107 108,117 105,556 133,797
March 123,951 133,492 137,301 158,112
April 102,671 108,977 117,261 135,036
May 95,699 120,418 125,188 148,761
June 130,589 142,767 151,484 157,313
July 108,994 119,534 154,889 143,616
August 102,888 132,582 122,847 142,154
September 125,201 135,378 143,897 154,864
Total 1,311,554$ 1,464,844$ 1,568,933$ 1,703,425$ 294,112$
YTD 200,985 218,816 239,962 251,541 294,112 42,571 16.92%[b]
Notes:
[a]Sales tax revenue from the State Comptroller is received two months in arrears.
[b]YTD compared through current month.
$-
$20,000
$40,000
$60,000
$80,000
$100,000
$120,000
$140,000
$160,000
$180,000
Re
v
e
n
u
e
s
Sales Tax 3 Year Trend
2016-17
2017-18
2018-19
Page 8 of 30
GEORGETOWN ECONOMIC DEVELOPMENT CORPORATION
CHECKS WRITTEN REPORT
FOR THE MONTH OF JANUARY 2019
• Promotion and Marketing Programs:
- Chmura Economics & Analytics, LLC $ 5,621.93
- Costar Realty Information, Inc. $ 6,351.60
- Williamson Co. Economic Development Partnership $ 5,000.00
Page 9 of 30
City of Georgetown, Texas
Georgetown Economic Development Corporation
February 21, 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
• Activity 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
Activity Report Feb 2019 Backup Material
Performance Agreement Status Report Backup Material
Page 10 of 30
Economic Development
Activity Report
February 2019
Page 11 of 30
Strategic Goal 1
Support existing businesses
and industries
Page 12 of 30
0
5
10
15
20
25
Fe
b
1
8
Ma
r
1
8
Ap
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Oc
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No
v
1
8
De
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Ja
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9
Business Retention Activity
Visits Assistance Requests Touches
Page 13 of 30
Strategic Goal 2
Enhance targeted recruitment
of identified industries
Page 14 of 30
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
Page 15 of 30
0
2
4
6
8
10
12
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16
Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep
Proposals Submitted
FY17 FY18 FY19
Page 16 of 30
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
Page 17 of 30
0
10
20
30
40
50
60
70
Fe
b
1
8
Ma
r
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Active Projects
Development Hot Warm Cold
Page 18 of 30
Additional Recruitment Activity
•WBW Development contract passed
February 12 by council
Page 19 of 30
Strategic Goal 3
Diversify workforce development
and recruitment initiatives
Page 20 of 30
Workforce Development Activity
•Working with three four employers, Austin
Community College, and Texas Workforce
Solutions on a Skills Development Fund
grant application
•Career explore day held in January
•High School career fair in February
Page 21 of 30
Strategic Goal 4
Encourage speculative
development
Page 22 of 30
Speculative Development Activity
•Eight of the active projects are
speculative development
•Several development meetings recently
•Also focusing on “shovel-ready” sites
Page 23 of 30
Overall Objective
Tell our story to a
broader local audience
Page 24 of 30
Other Activity
•Sun City town hall meeting
•Working to connect with Army Futures
Command
•Planning a county-wide commercial
brokers event/road show
Page 25 of 30
Name Description
Start Date (Council
Approved)End Date $ Encumbered $ Expended
DisperSol
Grant for job creation related to expansion of
manufacturing facilities.10/16/2014 2/15/2019 250,000$ $ 80,000
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
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 $ 50,000.00 $ 50,000.00
Holt Caterpillar
GEDCO to provide up to $185,000
infrastructure grant for the cost of
connecting to a new wastewater line run to the
property by the City. Approved by
Council on 1/24/17.1/24/2017 185,000.00$
Radiation Detection Corporation 2
Grant for job creation and reimbursement of
Qualified Expenditures related to the expansion of
the existing HQ corporate offices located in
Georgetown. 6/13/2018 6/1/2019 150,000$ $ -
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 500000
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 320000
GEDCO - ACTIVE PERFORMANCE AGREEMENTS STATUS REPORT
February 18, 2019
Page 26 of 30
City of Georgetown, Texas
Georgetown Economic Development Corporation
February 21, 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 27 of 30
City of Georgetown, Texas
Georgetown Economic Development Corporation
February 21, 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 28 of 30
City of Georgetown, Texas
Georgetown Economic Development Corporation
February 21, 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 29 of 30
City of Georgetown, Texas
Georgetown Economic Development Corporation
February 21, 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 Acc es s
IT E M S UMMARY:
--P roject Acc es s
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 30 of 30