HomeMy WebLinkAboutAgenda_GEDCO_03.18.2019Notice of Meeting for the
Georgetown E conomic Dev elopment Corporation
of the City of Georgetown
March 18, 2019 at 4:00 P M
at 808 Martin L uther K ing Jr Street, Georgetown, T X 78626
T he C ity of G eorgetown is committed to compliance with the Americans with Disabilities Act (ADA). If you
require as s is tance in partic ipating at a public meeting due to a disability, as defined under the ADA, reas onable
as s is tance, adaptations , or ac commodations will be provided upon request. P leas e c ontact the C ity S ec retary's
O ffic e, at leas t three (3) days prior to the sc heduled meeting date, at (512) 930-3652 or C ity Hall at 808 Martin
Luther King Jr. S treet, G eorgetown, T X 78626 for additional information; T T Y users route through R elay
Texas at 711.
Regular Session
(T his R egular S es s ion may, at any time, be rec es s ed to c onvene an Exec utive S es s ion for any purpose
authorized by the O pen Meetings Act, Texas G overnment C ode 551.)
A C ons ideration and possible action to nominate and elect a P res ident, Vic e-P res ident, and S ecretary
c onsistent with S ec tion 3.02 of the G EDC O Bylaws — David Morgan, C ity Manager
B R eview and dis cus s ion regarding the F ourth Amended Bylaws for G EDC O approved by the C ity
C ounc il on Dec ember 8, 2015 and the Articles of Amendment for G EDC O approved by the C ity C ouncil
on Dec ember 8, 2015 related to Board Members hip --David Morgan, C ity Manager
C R eview and pos s ible ac tion related to the Day and Time of the G EDC O Board Meetings --David Morgan,
C ity Manager
D R eview and dis cus s ion regarding the C ity C ouncil Attendanc e P olic y for Board Members --David
Morgan, C ity Manager
E C ons ideration and approval of the minutes for the G eorgetown Ec onomic Development C orporation
Meeting held on T hursday F ebruary 21, 2019--David Morgan, C ity Manager
F C ons ideration of the F ebruary 28, 2019 financ ial report. Leigh Wallace, F inanc e Manager, G EDC O ,
F inanc e Direc tor, C O G .
G 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
H Disc ussion and possible action to approve a resolution of the G eorgetown Ec onomic Development
C orporation authorizing the bylaws of the corporation, c larifying the roles of the G eneral Manager and
F inanc e Manager and authorizing those individuals to delegate duties and res ponsibilities .--Leigh Wallac e,
F inanc e Direc tor, C O G , F inance Manager, G EDC O .
I 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.
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J 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
K 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 .
L 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,
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 Toms
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
March 18, 2019
S UB J E C T:
C onsideration and pos s ible ac tion to nominate and elec t a P resident, Vice-P resident, and S ec retary
cons is tent with S ection 3.02 of the G EDC O Bylaws— David Morgan, C ity Manager
IT E M S UMMARY:
P ursuant to the G EDC O Bylaws , S ection 3.02 O fficers:
"T he offic ers of the C orporation s hall be a pres ident, vic e president, and sec retary. T he Board, at eac h
annual meeting, whic h s hall normally oc cur in the firs t meeting in Marc h of eac h year, s hall elect these
officers. T he Board may appoint such other officers as it deems nec es s ary, who shall have the authority,
and s hall perform such duties as from time to time may be presc ribed by the Board.”
Acc ordingly, the C orporation must nominate and elec t officers.
F IN AN C IAL IMPAC T:
N/A
S UB MIT T E D B Y:
David S . Morgan, C ity Manager
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City of Georgetown, Texas
Georgetown Economic Development Corporation
March 18, 2019
S UB J E C T:
R eview and disc ussion regarding the F ourth Amended Bylaws for G EDC O approved by the C ity C ounc il
on December 8, 2015 and the Artic les of Amendment for G EDC O approved by the C ity C ounc il on
December 8, 2015 related to Board Membership --David Morgan, C ity Manager
IT E M S UMMARY:
In 2015, C ity C ouncil approved changes to the board membership requirements of the G eorgetown
Economic Development C orporation (G EDC O ) Board to require that a minimum of two (2) of the s even
(7) directors be current C ity C ouncil Members. G EDC O Bylaws and Articles of Inc orporation were
amended to reflect the changes and G EDC O acc epted the c hanges in Marc h 2016. T here have been no
additional c hanges s inc e that time. Each year, G EDC O is asked to review thes e doc uments.
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
Res 120815-F Resolution Letter
Res 120815-G Resolution Letter
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City of Georgetown, Texas
Georgetown Economic Development Corporation
March 18, 2019
S UB J E C T:
R eview and possible action related to the Day and Time of the G EDC O Board Meetings--David Morgan,
C ity Manager
IT E M S UMMARY:
In ac cordance with the G EDC O Bylaws, S ec tion 2.03 R EG ULAR MEET I NG ; P LAC E O F
MEET I NG
“T he Board s hall meet on a regular bas is , at a spec ified time, day, and location as approved annually by the
Board. S c heduled meeting times will be properly pos ted for public notification for regular and s pecial
called meetings as necessary. T he pres ident of the Board may c anc el the meeting if there is no bus iness to
be c onducted.”
C urrently, the G EDC O Board meets on the third Monday of each month at 4:00 p.m. in the C ity C ouncil
C hambers located at 101 E. 7th S treet, G eorgetown, Texas 78626.
F IN AN C IAL IMPAC T:
N/A
S UB MIT T E D B Y:
David Morgan, C ity Manager
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City of Georgetown, Texas
Georgetown Economic Development Corporation
March 18, 2019
S UB J E C T:
R eview and disc ussion regarding the C ity C ounc il Attendance P olicy for Board Members--David Morgan,
C ity Manager
IT E M S UMMARY:
S ection 2.07 Attendance of the Bylaws of the G eorgetown Economic Development C orporation states:
“Board Members are required to attend 75% of regularly s cheduled Board Meetings . Exc es s ive
abs enteeis m will be s ubjec t to action under C ounc il polic y.”
Additionally, C hapter 2.36 C I T Y C O MMI S S I O NS , C O MMI T T EES , AND BO AR DS , S ection
2.36.010(D) – Duties of Members of the C ity of G eorgetown C ode of O rdinanc es , als o addresses the
C ity C ounc il’s polic y on attendance for Board Members :
S EC 2.36.010 DUT I ES O F C O MMI S S I O N, C O MMI T T EE & BO AR D MEMBER S
“D. Attendanc e by Members is integral to s uc cess of the commission, committee or board. It is C ounc il
policy to require a minimum of 75 perc ent attendanc e of each Member at eac h regularly s cheduled meeting
inc luding s ubc ommittee meetings . A Member s hall be allowed two exc used abs enc es for the Member's
pers onal medical care, required medic al c are of a Member's immediate family member (as defined by C ity
O rdinanc e), or Member's military S ervic e that shall not count against the 75 perc ent attendanc e
requirement. Written notic e shall be s ent to a Member and the Member's C ity C ouncil repres entative when
it appears the Member may violate the attendance policy by being abs ent from more than 25 percent of
regularly s cheduled meetings, including subcommittee meetings. Excessive absenteeism may res ult in the
Member being replac ed by the C ouncil. If a Member is removed from a c ommittee, commission or board,
that pos ition shall be cons idered vacant and a new Member s hall be appointed to the Board in ac cordance
with S ection 2.36.040”
T he C ity S ecretary and the Mayor review attendanc e and determine if warning or removal letters need to be
s ent to a Member that is in danger of or has violated the 75% C ounc il mandated attendance policy.
Abs enc es are exc used for medic al reasons or military reasons . C ity C ounc il and S taff Liaisons are notified
if any letters are s ent to a Member.
Abs enc es for any S pec ial Meetings that are sc heduled do not c ount toward the 75% Attendance P olicy.
T he C ity of G eorgetown values the volunteers that s erve on its C ommis s ions, C ommittees or Boards and
is fortunate to have a multitude of citizens who apply to be a part of the public process by s erving on them.
Acc ordingly, it is very important that the members who are appointed to be on a C ity of G eorgetown
C ommis s ion, C ommittee or Board understand the importanc e of their attendanc e and their partic ipation at
the regularly sc heduled meetings of thes e C ommission, C ommittee or Board meetings.
F IN AN C IAL IMPAC T:
N/A
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S UB MIT T E D B Y:
David Morgan, C ity Manager
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City of Georgetown, Texas
Georgetown Economic Development Corporation
March 18, 2019
S UB J E C T:
C onsideration and approval of the minutes for the G eorgetown Economic Development C orporation
Meeting held on T hurs day F ebruary 21, 2019--David Morgan, C ity Manager
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:
David Morgan, C ity Manager
AT TAC H ME N T S:
Description Type
February 2019 minutes Backup Material
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GEDCO Minutes
February 21, 2019
Page 1 of 1
Minutes of the Meeting of the
Georgetown Economic Development Corporation
City of Georgetown, Texas
February 21, 2019
The Georgetown Economic Development Corporation of the City of Georgetown, Texas, met on Thursday February 21, 2019.
Members
Present: Tom Menke, Jeff Parker, Steve Fought, Steve Bohnenkamp, Kevin Kelly, Valerie Nicholson, Bill Mateja
Members
Absent: None
Staff
Present:
David Morgan, City Manager; Laurie Brewer, Assistant City Manager; Michaela Dollar, Director of Economic
Development; Conchita Gusman, Business Retention and Expansion Program Manager; Paul Diaz, Budget
Manager; Amy Janecka, Finance Admin
Guest
Present: none
MINUTES
Call to Order at 4:30 pm
A Consideration and approval of the minutes for Georgetown Economic Development Corporation for the
Regular Meeting held Monday, January 28, 2019—Steve Bohnenkamp, Secretary
Motion by Jeff Parker, second by Valarie Nicholson to approve the January 28, 2019 minutes. (Approved 7-0)
B. Consideration of the January 31, 2019 financial report --Leigh Wallace, Finance Manager, GEDCO,
Finance Director, COG.
Paul Diaz presented the financial reports and answered questions from the Board regarding average sale price and
assessed values of homes, and sales tax forecasts.
C. Discussion and possible action regarding the Staff Report —David Morgan, City Manager
- Performance Agreement Report
- Activity Report
- Other Staff Items
Michaela Dollar summarized the reports. Michaela Dollar and David Morgan answered questions from the Board
regarding utilizing a CRM tool and the best source of leads.
-----GEDCO entered into Executive Session at 4:53 p.m. and returned to Regular Session at 5:07 p.m.-----
D Action out of Executive Session.
Motion by Steve Bohnenkamp, second by Bill Mateja to approve incentives for Project Access as discussed in executive
session. (Approved 7-0)
Motion by Jeff Parker, second by Steve Fought to adjourn at 5:10 p.m. (Approved 7-0)
Attest:
Secretary President
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City of Georgetown, Texas
Georgetown Economic Development Corporation
March 18, 2019
S UB J E C T:
C onsideration of the F ebruary 28, 2019 financial 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 F ebruary 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
February 2019_GEDCO Report Backup Material
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GEDCO Board Meeting Date March 18, 2019 Item No. __________
GEORGETOWN ECONOMIC DEVELOPMENT CORPORATION
AGENDA ITEM COVER SHEET
_________________________________________________________________
SUBJECT:
Consideration of the February 28, 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 February is also included.
ATTACHMENTS:
Monthly Financial Report
Sales Tax History
SUBMITTED BY:
Leigh Wallace
Finance Manager, GEDCO
Finance Director, COG
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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 4,069 59,948 40,300
Sales Tax 1,768,275 173,168 472,108 1,768,275
OPERATING REVENUES Total 1,808,575 177,237 532,056 1,808,575
OPERATING EXPENDITURES
Joint Services Allocation 238,622 19,885 99,426 238,622
Miscellaneous Expense 50 - - 50
Promotional & Marketing Program 100,000 9,600 63,429 100,000
Special Services 30,000 - - 30,000
Travel & Training 500 - - 500
OPERATING EXPENDITURES Total 369,172 29,485 162,855 369,172
TOTAL NET OPERATIONS 1,439,403 147,752 369,201 1,439,403
NON-OPERATING EXPENDITURES
Principal Reduction 80,568 - - 80,568
Debt Service 205,069 42,534 42,534 205,069
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 42,534 42,534 7,840,407
TOTAL NET NON-OPERATIONS (7,840,407) (42,534) (42,534) (7,840,407)
EXCESS (DEFICIENCY) OF TOTAL REVENUE OVER TOTAL
REQUIREMENTS (6,401,004) 105,218 326,667 (6,401,004)
ENDING FUND BALANCE 452,069 7,179,740 452,069
Georgetown Economic Development Corporation Fund
Year-End Projection to Approved: Feb FY2019
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As of February 28, 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 143,774 148,200 160,542 162,940 171,066 8,126$ 4.99%
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$ 465,178$
YTD 344,759 367,016 400,504 414,481 465,178 50,697 12.23%[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
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GEORGETOWN ECONOMIC DEVELOPMENT CORPORATION
CHECKS WRITTEN REPORT
FOR THE MONTH OF FEBRUARY 2019
• Promotion and Marketing Programs:
- Conway Data, Inc. $ 6,600.00
- Texas Healthcare & Bilscience Institute $ 3,000.00
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City of Georgetown, Texas
Georgetown Economic Development Corporation
March 18, 2019
S UB J E C T:
Dis cus s ion and pos s ible ac tion regarding the S taff R eport – David Morgan, C ity Manager
• P erformanc e Agreement R eport
• 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 Report Backup Material
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Economic Development
Activity Report
March 2019
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Strategic Goal 1
Support existing businesses
and industries
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0
5
10
15
20
25
Ma
r
1
8
Ap
r
1
8
Ma
y
1
8
Ju
n
1
8
Ju
l
1
8
Au
g
1
8
Se
p
1
8
Oc
t
1
8
No
v
1
8
De
c
1
8
Ja
n
1
9
Fe
b
1
9
Business Retention Activity
Visits Assistance Requests Touches
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Additional BRE Activity
•Several active expansion retention and
projects
•Approximately 25% of active projects are
existing businesses
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Strategic Goal 2
Enhance targeted recruitment
of identified industries
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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 Rolling 12-Month Average
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0
2
4
6
8
10
12
14
16
Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep
Proposals Submitted
FY17 FY18 FY19 Rolling 12-Month Average
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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 Rolling 12-Month Average
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0
10
20
30
40
50
60
70
Ma
r
1
8
Ap
r
1
8
Ma
y
1
8
Ju
n
1
8
Ju
l
1
8
Au
g
1
8
Se
p
1
8
Oc
t
1
8
No
v
1
8
De
c
1
8
Ja
n
1
9
Fe
b
1
9
Active Projects
Development Hot Warm Cold
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Additional Recruitment Activity
•WBW Development contract passed
February 12 by council
•Continuing to work with retail developers
on multiple projects
•Creating materials for second round of
retail recruitment initiative
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Strategic Goal 3
Diversify workforce development
and recruitment initiatives
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Workforce Development Activity
•Working with four employers, Austin
Community College, and Texas Workforce
Solutions on a Skills Development Fund
grant application
•Participated in the Austin Young Chamber
LEAD Summit
•Held High School Career Fair
•Healthcare Alliance meeting March 1
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Strategic Goal 4
Encourage speculative
development
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Speculative Development Activity
•Airport access road project approved by
council February 26; working with
developer on next steps
•Continuing to see interest in speculative
projects, mostly industrial
•Sedro Crossing Groundbreaking
ceremony March 14
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Overall Objective
Tell our story to a
broader local audience
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Other Activity
•Participated in the City’s residential realtors
workshop
•Hosted prospects in the Swirl VIP event
•Breakfast Bites –March 20
•Planning commercial broker event for Red
Poppy in April
•Planning site selector event with WilCo EDP
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Economic Indicators
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-
200
400
600
800
1,000
1,200
1,400
$-
$20.0
$40.0
$60.0
$80.0
$100.0
$120.0
$140.0
Ma
r
1
8
Ap
r
1
8
Ma
y
1
8
Ju
n
1
8
Ju
l
1
8
Au
g
1
8
Se
p
1
8
Oc
t
1
8
No
v
1
8
De
c
1
8
Ja
n
1
9
Fe
b
1
9
Construction Permit Applications
Valuation
(in millions)
# of Permits
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$-
$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
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0.0%
0.5%
1.0%
1.5%
2.0%
2.5%
3.0%
3.5%
4.0%
4.5%
Ja
n
1
8
Fe
b
1
8
Ma
r
1
8
Ap
r
1
8
Ma
y
1
8
Ju
n
1
8
Ju
l
1
8
Au
g
1
8
Se
p
1
8
Oc
t
1
8
No
v
1
8
De
c
1
8
Unemployment Rate
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$30,000
$35,000
$40,000
$45,000
$50,000
$55,000
Average Annual Wage
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Name Description
Start Date
(Council
Approved)End Date $ Encumbered $ Expended
DisperSol Grant for job creation related to expansion of
manufacturing facilities. Final payment pending
compliance review.
10/16/2014 2/15/2019 250,000$ $ 150,000
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 $ 50,000
Holt Caterpillar GEDCO to provide up to $185,000
infrastructure grant for the cost of
connecting to a new wastewater line run to the property
by the City. Approved by
Council on 1/24/17
1/24/2017 185,000$
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 $500,000 for
qualified expenditures related to the development of
90,000 SF of speculative business park space in
Georgetown at the Westinghouse Business Center
10/9/2018 6/1/2021 500,000$
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 access road
through property to the Airport property off od Lakeway
Drive, to the west of the main runway.2/26/2019 2/26/2022 600,000$
GEDCO - ACTIVE PERFORMANCE AGREEMENTS STATUS REPORT
March 18, 2019
Page 58 of 66
City of Georgetown, Texas
Georgetown Economic Development Corporation
March 18, 2019
S UB J E C T:
Dis cus s ion and pos s ible ac tion to approve a res olution of the G eorgetown Economic Development
C orporation authorizing the bylaws of the c orporation, clarifying the roles of the G eneral Manager and
F inance Manager and authorizing thos e individuals to delegate duties and respons ibilities.--Leigh Wallace,
F inance Director, C O G , F inanc e Manager, G EDC O .
IT E M S UMMARY:
T he purpos e of this item is to amend the bylaws of G EDC O s o that the G eneral Manager (C ity Manager)
and F inance Manager (F inance Director) may apply financ ial proc edures an internal controls cons is tent
with other operations of the C ity.
T he c urrent language of the bylaws res tric ts the G eneral Manager from delegating duties . T his means both
the C ity Manager and F inance Director are manually receipting invoic es for G EDC O expenses before
payment is authorized, in addition to the Director of Economic Development. In future, the approvals will
be c onsistent with the C ity’s polic y and procedures on approving invoic es . Economic Development
Department s taff, Direc tor and C ity Manager will rec eipt for the invoices bas ed on amount. T hes e c hanges
to the bylaws will allow for streamlined processing of payments now, as well as in the new financial
s oftware c urrently being implemented by the C ity.
C ity of G eorgetown Invoic e Approval Limits:
Amendments to the bylaws are subject to C ity C ouncil approval.
F IN AN C IAL IMPAC T:
N/A
S UB MIT T E D B Y:
Leigh Wallace, F inanc e Direc tor, C O G , F inance Manager, G EDC O .
AT TAC H ME N T S:
Description Type
Resolution_GEDCO_Bylaws Resolution Letter
GEDCO_Bylaws _Redline Backup Material
Page 59 of 66
{00010306 / v2 / CMCNABB / BOARDS / RES / 12/4/2018}
Georgetown Economic Development Corporation (GEDCO) Page 1
Resolution No. __________
Approved: _____________, 2019
RESOLUTION NO. _____________
A RESOLUTION OF THE GEORGETOWN ECONOMIC
DEVELOPMENT CORPORATION (GEDCO) OF THE CITY OF
GEORGETOWN, TEXAS AUTHORIZING THE BYLAWS OF THE
CORPORATION CLARIFYING THE DUTIES AND RESPONSIBILITIES
OF THE GENERAL MANAGER AND THE FINANCE MANAGER AND
AUTHORIZE THOSE INDIVIDUALS TO DELEGATE SUCH DUTIES
AND RESPONSIBILITIES TO THOSE RESPONSIBLE FOR THEM.
BE IT RESOLVED:
Sections 6.01 and 6.02 of the Bylaws are amended to read as follows:
Section 6.01 GENERAL MANAGER
The City Manager of the City of Georgetown, Texas, shall be the General
Manager of the Corporation and be in charge of the properties and affairs of the
Corporation, shall administer all work orders, requisitions for payment, purchase
orders, contract administration/oversight, and other instruments or activities as
prescribed by the Board in the name of the Corporation.
The General Manager shall employ such full or part-time employees as are
needed to carry out the programs of the Board. These employees shall be
employees of the City or another city-authorized entity focused on economic
development, and they shall perform those duties as are assigned to them. These
employees shall be compensated as prescribed in Article III, Section 3.08 of these
Bylaws. The General Manager shall have the authority, and subject to provisions
of the City Charter and policies and procedures of the City, to hire, fire, direct,
and control the work, as functionally appropriate, of such employees, as well as to
delegate such of the General Manager’s responsibility as the General Manager
deems appropriate.
Section 6.02 FINANCE MANAGER
The Finance Manager shall be the City’s Director of Finance & Administration.
The Finance Manager shall have the responsibility to see to the handling, custody,
and security of all funds and securities of the Corporation in compliance with City
of Georgetown’s financial policies. When necessary or proper, the Finance
Manager, or designee, shall endorse and sign, on behalf of the Corporation, for
collection or issuance, checks, notes and other obligations drawn upon such bank
Page 60 of 66
{00010306 / v2 / CMCNABB / BOARDS / RES / 12/4/2018}
Georgetown Economic Development Corporation (GEDCO) Page 2
Resolution No. __________
Approved: _____________, 2019
or banks or depositories as shall be designated by the City Council consistent with
these Bylaws. The Finance Manager shall see to the entry in the books of the
Corporation of full and accurate accounts of all monies received and paid out on
account of the Corporation. The Finance Manager shall, at the expense of the
Corporation, give such bond for the faithful discharge of the duties in such form
and amount as the City Council shall require, by resolution. The Finance
Manager shall also coordinate an annual audit of the Corporation’s Financial
Statements by an independent outside audit firm approved by the City Council.
With approval of the General Manager, the Finance Manager may delegate such
of the Finance Manager’s responsibility as the Finance Manager deems
appropriate.
The Finance Manager shall submit a report to the Board each month, in sufficient
detail, of all checks or drafts issued on behalf of the Corporation for the previous
month. The Finance Manager shall provide a quarterly financial report to the City
Council concerning activities of the Corporation in a format consistent with other
financial reports of the City.
Except as amended herein, the Bylaws shall remain unchanged.
This Resolution shall become effective on the ____ day of _______________, 2019.
PASSED AND APPROVED on the _____ day of _________________, 2019.
ATTEST: CITY OF GEORGETOWN, TEXAS
______________________________ By: _____________________________
Robyn Densmore, City Secretary Dale Ross, Mayor
APPROVED AS TO FORM:
______________________________
Charlie McNabb, City Attorney
Page 61 of 66
GEDCO Redline:
Section 6.01 GENERAL MANAGER
The City Manager of the City of Georgetown, Texas, shall be the General Manager of the
Corporation and be in charge of the properties and affairs of the Corporation, shall administer all
work orders, requisitions for payment, purchase orders, contract administration/oversight, and
other instruments or activities as prescribed by the Board in the name of the Corporation.
The General Manager shall employ such full or part-time employees as are needed to carry out the
programs of the Board. These employees shall be employees of the City or another city-authorized
entity focused on economic development, and they shall perform those duties as are assigned to
them. These employees shall be compensated as prescribed in Article III, Section 3.08 of these
Bylaws. The General Manager shall have the authority, and subject to provisions of the City
Charter and policies and procedures of the City, to hire, fire, direct, and control the work , as
functionally appropriate, of such employees, as well as to delegate such of the General Manager’s
responsibility as the General Manager deems appropriate.
Section 6.02 FINANCE MANAGER
The Finance Manager shall be the City’s Director of Finance & Administration. The Finance
Manager shall have the responsibility to see to the handling, custody, and security of all funds and
securities of the Corporation in compliance with City of Georgetown’s financial policies. When
necessary or proper, the Finance Manager, or their designee, shall endorse and sign, on behalf of
the Corporation, for collection or issuance, checks, notes and other obligations drawn upon such
bank or banks or depositories as shall be designated by the City Council consistent with these
Bylaws. The Finance Manager shall see to the entry in the books of the Corporation of full and
accurate accounts of all monies received and paid out on account of the Corporation. The Finance
Manager shall, at the expense of the Corporation, give such bond for the faithful discharge of the
duties in such form and amount as the City Council shall require, by resolution. The Finance
Manager shall also coordinate an annual audit of the Corporations Corporation’s Financial
Statements by an independent outside audit firm approved by the City Council. With approval
of the General Manager, the Finance Manager may delegate such of the Finance Manager’s
responsibility as the Finance Manager deems appropriate.
The Finance Manager shall submit a report to the Board each month, in sufficient detail, of all
checks or drafts issued on behalf of the Corporation for the previous month. The Finance Manager
shall provide a quarterly financial report to the City Council concerning activities of the
Corporation in a format consistent with other financial reports of the City.
Page 62 of 66
City of Georgetown, Texas
Georgetown Economic Development Corporation
March 18, 2019
S UB J E C T:
Action out of Exec utive S es s ion
IT E M S UMMARY:
F IN AN C IAL IMPAC T:
T BD
S UB MIT T E D B Y:
C harlie Mc Nabb, C ity Attorney
Page 63 of 66
City of Georgetown, Texas
Georgetown Economic Development Corporation
March 18, 2019
S UB J E C T:
S ec. 551.071: C O N S ULTAT IO N WIT H AT TO R N E Y
C onsultation with attorney regarding legal issues related to agenda items and other matters in which (1)
when the governmental body seeks the advic e of its attorney about: (A) pending or contemplated litigation;
or (B) a s ettlement offer; or (2) on a matter in which the duty of the attorney to the governmental body
under the Texas Disc iplinary R ules of P rofes s ional C onduct of the S tate Bar of Texas clearly c onflic ts
with this c hapter - C harlie Mc Nabb, C ity Attorney
IT E M S UMMARY:
F IN AN C IAL IMPAC T:
N/A
S UB MIT T E D B Y:
C harlie Mc Nabb, C ity Attorney
Page 64 of 66
City of Georgetown, Texas
Georgetown Economic Development Corporation
March 18, 2019
S UB J E C T:
S ection 551.072. D E LIB E R AT IO N R E GAR D IN G R E AL P R OP E RT Y
Dis cus s ion and pos s ible ac tion to deliberate the purc hase,exc hange, lease or value of real property for
purposes authorized by the Development C orporation Ac t which disc ussion in open session would have a
detrimental effect on negotiations with third pers ons.
IT E M S UMMARY:
F IN AN C IAL IMPAC T:
N/A
S UB MIT T E D B Y:
C harlie Mc Nabb, C ity Attorney
Page 65 of 66
City of Georgetown, Texas
Georgetown Economic Development Corporation
March 18, 2019
S UB J E C T:
S ection 551.087. D E LIB E R AT IO N R E GAR D IN G E C O N OMIC D E VE LO P ME N T
N E GOT IAT ION S .
Deliberation regarding c ommercial or financ ial information that the corporation has received from a
busines s prospec t that the G eorgetown Ec onomic Development C orporation s eeks to have loc ate, stay, or
expand in or near the territory of the C ity of G eorgetown and with whic h the C orporation is c onducting
economic development negotiations; and/or deliberation regarding the offer of a financ ial or other incentive
to a bus iness pros pect that the C orporation seeks to have locate, s tay, or expand in or near the territory of
the C ity of G eorgetown.
--P roject Toms
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 66 of 66