HomeMy WebLinkAboutAgenda_GEDCO_07.20.2020Notice of Meeting for the
Georgetown E conomic Dev elopment Corporation
of the City of Georgetown
July 20, 2020 at 4:00 P M
at Georgetown P ublic Library - F riends Room - 402 W 8th Street, Georgetown, Texas
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.
C O V I D -19 S pe ci al N otice
P lease note that a quor um of the Ge orge town E c onomi c D e ve lopme nt
C or por ati on may not all be pr e se nt at the same physi c al loc ation. S ome
membe r s may inste ad participate i n this me eting from one or mor e r emote
locations i n an effor t to advanc e the publ ic he alth goal of l imiti ng face to fac e
mee tings and to contain the spr e ad of C O V I D -19. In addi tion, the re may be
oc casions when the audio tr ansmissi on may not be c l e ar or may be
inte rr upte d. In those instanc e s, the mee ting will conti nue so long as a quor um
is still pr e se nt.
With the G ove rnor’s O r de r, all C ity B ui ldings ar e fol lowing the se
proc edur e s:
M asks ar e r equi re d
P hysic al distanc ing; 6 fe e t be twe en you and anyone not in your
house hol d
P r ac tic e good hygiene and wash your hands
If any of these apply, do not vi si t: known close c ontac t wi th C O V I D-19
P e r son, fe ve r gr eate r or e qual to 100.0 degr ee s F ahr enhe it, difficulty
bre athing or shor tne ss of br e ath, cough, loss of taste or sme ll , sor e
thr oat, chil ls, he adac he , diar r hea or musc le pain.
Regular Session
(T his R egular S es s ion may, at any time, be rec es s ed to c o nvene an Exec utive S es s ion for any purp o s e
authorized b y the O pen Meetings Ac t, Texas G o vernment C ode 551.)
A C ons id eratio n and p o s s ib le ac tion to nominate and elect a P res id ent, Vic e-P res ident, and S ec retary
c o nsistent with S ectio n 3.02 of the G EDC O Bylaws — David Morgan, C ity Manager
B R eview and dis c us s ion regard ing the Amended Bylaws fo r G E DC O approved by the C ity C ounc il on
April 23, 2019 - David Mo rgan, C ity Manager
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C C ons id eratio n and ap p ro val o f the June 15, 2020 G E DC O minutes--Hugh Brown, S ec retary
D Disc ussio n and p o s s ib le ac tion to rec o mmend the F Y 2021 proposed G EDC O b udget and ad ministrative
services c o ntrac t -- Laurie Brewer, As s is tant C ity Manager
E 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
F C ons id eratio n and cons ent to assignment of the Mo tion C ommerc ial P ro p erties , LLC agreement to Titan
NorthP ark35 -- Michaela Dollar, Economic Develo p ment Direc tor
G 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.
H 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
I 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.
J 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,
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.
Adjournment
Adjourn
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
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City of Georgetown, Texas
Georgetown Economic Development Corporation
July 20, 2020
S UB J E C T:
C o nsideration and pos s ible actio n to nominate and elec t a P resident, Vice-P res id ent, and S ecretary
cons is tent with S ec tion 3.02 o f the G EDC O Bylaws — David Mo rgan, C ity Manager
IT E M S UMMARY:
P ursuant to the G EDC O Bylaws, S ec tion 3.02 O fficers:
"T he offic ers o f the C o rp o ration shall be a p res id ent, vic e president, and sec retary. T he Bo ard , at each
annual meeting, which s hall no rmally o cc ur in the firs t meeting in Marc h o f eac h year, shall elec t thes e
o fficers. T he Bo ard may appoint s uc h o ther o ffic ers as it deems nec es s ary, who s hall have the authority,
and s hall p erform s uc h d uties as fro m time to time may b e presc rib ed by the Bo ard .”
Acc o rd ingly, the C o rp o ration mus t nominate and elec t o fficers.
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
July 20, 2020
S UB J E C T:
R eview and d is c us s io n regarding the Amend ed Bylaws for G EDC O appro ved b y the C ity C o uncil o n
Ap ril 23, 2019 - David Morgan, C ity Manager
IT E M S UMMARY:
Each year, G EDC O is as ked to review the c urrent b ylaws 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:
D escription Type
GEDCO Bylaws 4-23-19 Cover Memo
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City of Georgetown, Texas
Georgetown Economic Development Corporation
July 20, 2020
S UB J E C T:
C o nsideration and approval of the June 15, 2020 G EDC O minutes --Hugh Bro wn, S ecretary
IT E M S UMMARY:
F IN AN C IAL IMPAC T:
N/A
S UB MIT T E D B Y:
Board Liais on
AT TAC H ME N T S:
D escription Type
6/15/20 Minutes Cover Memo
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GEDCO Minutes
June 15, 2020
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Minutes of the Meeting of the
Georgetown Economic Development Corporation
City of Georgetown, Texas
June 15, 2020
The Georgetown Economic Development Corporation of the City of Georgetown, Texas, met on Monday June 15, 2020.
Members
Present: Steve Bohnenkamp, Kevin Cummins, Hugh Brown, Steve Fought, Ron Garland
Members
Absent: Barrie Laing
Staff
Present:
Michaela Dollar, Director of Economic Development; Paul Diaz, Budget Manager; David Morgan, City
Manager; Laurie Brewer, Assistant City Manager; Conchita Gusman, Business Retention Manager,
Katherine Clayton, Budget Analyst
Guest
Present: Jim Johnson
MINUTES
Steve Bohnenkamp called to Order at 4:02 pm
A. Review and discussion regarding the Fourth Amended Bylaws for GEDCO approved by the City Council on
December 8, 2015 and the Articles of Amendment for GEDCO approved by the City Council on December 8,
2015 related to Board Membership --David Morgan, City Manager
Review of Bylaws postponed to a future meting in order to have most current version.
B. Review and possible action related to the Day and Time of the GEDCO Board Meetings--David Morgan, City
Manager
Motion by Hugh Brown to approve current schedule of GEDCO meetings to take place on the 3rd Monday of the
month at 4:00 P.M. 2nd by Ron Garland. Approved 5-0 (Laing absent).
C. Review and discussion regarding the City Council Attendance Policy for Board Members—David Morgan,
City Manager
David Morgan reviewed the attendance policy. No voting needed.
D. Consideration and approval of the Feb 17, 2020 GEDCO minutes--Hugh Brown, Secretary
Motion to approve by Ron Garland, 2nd by Hugh Brown. Approved 5-0 (Laing absent)
E. Consideration and approval of the March 30, 2020 Special GEDCO meeting minutes --Hugh Brown,
Secretary
Motion to approve by Ron Garland, 2nd by Kevin Cummings. Approved 5-0 (Laing absent)
F. Consideration of the February 1 - May 31, 2020 financial report--Leigh Wallace, Finance Manager, GEDCO,
Finance Director, COG.
Laurie Brewer and Paul Diaz reviewed the financial report. No voting needed.
Laurie Brewer notified the Board that this would be Paul’s last GEDCO meeting since he is leaving the City to work
for the City of Waco.
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GEDCO Minutes
June 15, 2020
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G. 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.
H. Action out of Executive Session.
----------There was no Executive Session held at this meeting-----
Motion to adjourn by Steve Bohnenkamp, 2nd by Kevin Cummings
Meeting adjourned at 4:52 pm
Attest:
Hugh Brown, Secretary Steve Bohnenkamp, President
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City of Georgetown, Texas
Georgetown Economic Development Corporation
July 20, 2020
S UB J E C T:
Dis cus s io n and pos s ible actio n to recommend the F Y 2021 p ro p o s ed G EDC O bud get and adminis trative
s ervic es c o ntrac t -- Laurie Brewer, Assistant C ity Manager
IT E M S UMMARY:
T he p ro p o s ed F Y2021 G E DC O bud get inc lud es p ro jects id entified fo r funding along with ad ministrative
costs and to tal funding req uirements.
T he p ropos ed F Y2021 b udget identifies revenues and s p ecific projec ts planned fo r the upc oming year, as
well as c o s ts as s oc iated with p as t d eb t is s uanc es .
· P ropos ed F Y2021 Bud get P resentation
· P ropos ed F Y2021 Bud get F und S chedule
· P ropos ed F Y2021 Adminis trative C ontrac t
S P E C IAL C O N S ID E R AT IO N S:
C o uncil is sc hed uled to act on all components o f the F Y2021 bud get in S ep tember 2020.
F IN AN C IAL IMPAC T:
S ee attac hments
S UB MIT T E D B Y:
Leigh Wallace, F inance Directo r
AT TAC H ME N T S:
D escription Type
FY21 Budget Pres entation Cover Memo
GEDCO Summary Cover Memo
Adminis trative Services Contract Cover Memo
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FY2021 Annual Budget
FY2021 Proposed GEDCO Budget
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FY2021 Annual Budget
GEDCO Budget Process
•GEDCO -“component unit” of the City
–GEDCO Board recommends budget to City Council
–City Council adopts in August/September
•Guided by GEDCO Fiscal and Budgetary Policy
•GEDCO projects in collaboration with
Economic Development Department
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FY2021 Annual Budget
GEDCO Budget Process
•GEDCO budget developed annually
–Revenue estimates for upcoming year
•Sales Tax
–Expenses for approved economic development
projects and agreements; promotions
–Debt service –from previously issued debt for
projects
–Administrative costs
•Staff, overhead, project management, training
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FY2021 Annual Budget
Revenues
•Sales tax is projected to end FY2020 at $1,984,375
–Meets budget due to strong first six months of fiscal
year, offset by decreases due to COVID business
closures
•FY2021 Sales Tax is projected to be $1,984,375,
which matches the FY20 budget and projection.
•Interest revenue is budgeted at $19,000 in
FY2021, which is lower than current year due to
lower fund balances as incentive agreements are
paid
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FY2021 Annual Budget
Expenditures
•Operation expenses include:
–$180,000 for Marketing (increase of $80,000)
–$130,000 for Special Services/Contracts
•$100,000 for update to the strategic plan
–Administrative Costs/Overhead -$283,783
•Two Debt Service Payments -
–Transfer out to the City’s main debt fund for
$200,169 for Rivery conference center project
–Repayment to the Water Fund for $90,572
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FY2021 Annual Budget
Expenditures
•Existing projects -$5,290,000
•Funding available for undetermined projects
–$3.9 million
•Reserves –per fiscal and budgetary policy
–Contingency = 25% of sales tax
•$496,093
–Debt Service = one year of debt service
•$202,769
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FY2021 Annual Budget
Administrative Contract
•Administrative Contract
–$197,821 for the Joint Service contract includes
services of Economic Development, Legal, and
Finance Administration
–$85,962 for General Fund –other/city
management
–Total $283,783
–15.9% increase from FY20 due to additional
contract oversight and activity
–Contract approved as a separate agenda item
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FY2021 Annual Budget
Conclusion
•Discussion
•Recommendation to Council
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FY2021 Annual Budget
GEORGETOWN ECONOMIC DEVELOPMENT CORPORATION FUND
The Georgetown Economic Development Corporation (GEDCO) considers requests and also grants economic
development funds as authorized and defined by the Internal Revenue Code of 1986, Section 4A, leading to the
creation or retention of primary jobs and/or provision of significant capital investment which benefits the community
of Georgetown. The funding source is 1/8th cent of the City’s sales tax rate.
FISCAL YEAR 2020
Total revenues are projected to be $2.07 million, which is a slight increase of less than ½ percent over budget. This
increase is due to stronger interest income than anticipated. Sales tax collections are projected to on budget. A strong
first half of the fiscal year helped make up for reductions in sales tax revenue seen during the Spring as the COVID19
pandemic closed many businesses.
Total expenses are projected to be $1.7 million, which is significantly less than the budgeted amount of $9.5 million.
This is because GEDCO appropriates nearly the full amount of funding available for economic development projects
each year, leaving 25% of annual sales tax revenues in contingency reserve. Economic Development project
expenditures are projected to end FY2020 at $1,050,000 and include natural gas infrastructure improvements to
downtown, one incentive to Sedro Crossing and $100,000 for small business grants. Projects are considered
throughout the year and unused project funding is appropriated in the following year.
Total fund balance as of September 30th, 2020 is projected to be $8.8 million with a sales tax contingency reserve of
$489,298 and a reserve for future debt service of $200,169.
FISCAL YEAR 2021
Budgeted revenues are expected to total $2 million in FY2021. Sales tax is projected to remain flat over FY2020
projections, to reflect a conservative view of the impact of COVID19 pandemic on local businesses. Interest revenue
is expected to decrease, as cash balances will be lower as approved incentives are paid throughout the year.
Budgeted expenses total $9.9 million in FY2021. This includes $9.3 million available for future economic development
projects. Expenses also include the administrative overhead contract with City staff, debt service for the Rivery
conference center project, and the annual repayment of the loan from the Water Fund with an infrastructure grant
for Citi Corp. Marketing and advertising expenses have a proposed increase of $80,000 to continue to promote the
City for economic development. An additional $100,000 is also included for an update to the strategic plan.
Total fund balance is projected to be $698,862 as of September 30th, 2021. This meets the contingency requirement
of reserving 25% of budgeted sales tax revenue, as well as the debt service reserve requirement of $202,769.
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FY2021 Annual Budget
FUND SCHEDULE
FY2019
Actuals
FY2020
Budget
FY2020
Projected
FY2021 Base
Budget
FY2021
Changes
FY2021
Budget
Beginning Fund Balance 6,972,636 8,138,781 8,138,781 8,836,402 - 8,836,402
Revenue
FY2019
Actual
FY2020
Budget
FY2020
Projected
FY2021 Base
Budget
FY2021
Changes
FY2021
Budget
Allocated Interest 16 - - - -
Bond Interest 4,071 1,000 20 250 250
Direct Interest 174,456 75,000 85,000 18,750 18,750
Misc Revenue - - - - -
Sales of Property - - - - -
Sales Taxes 1,842,411 1,984,375 1,984,375 1,984,375 1,984,375
Grand Total 2,020,953 2,060,375 2,069,395 2,003,375 2,003,375
Expense
FY2019
Actual
FY2020
Budget
FY2020
Projected
FY2021 Base
Budget
FY2021
Changes
FY2021
Budget
Administative (Joint Services) Allocation 238,622 244,771 244,771 197,821 - 197,821
Ads - Public Notice - 50 - - - -
Advertising - Print and Digital 97,324 100,000 100,000 100,000 80,000 180,000
Contracts and Leases - Temporary 12,843 30,000 15,123 30,000 100,000 130,000
Debt Interest 23,157 20,516 20,516 17,742 - 17,742
Debt Payment 80,568 83,695 83,695 72,830 - 72,830
Economic Development Agreement 30,151 8,812,339 700,000 9,256,391 - 9,256,391
Travel - 500 - - - -
Property Taxes - - - - -
Administative Allocation General Fund - 85,962 - 85,962
Legal Services - - - -
Subsriptions & Dues - - - - -
Transfer Out - General Debt Service 205,189 207,669 207,669 200,169 - 200,169
Grand Total 687,854 9,499,540 1,371,774 9,960,915 180,000 10,140,915
FY2019
Actuals
FY2020
Budget
FY2020
Projected
FY2021 Base
Budget
FY2021
Changes
FY2021
Budget
Ending Fund Balance 8,305,735 699,616 8,836,402 878,862 (180,000) 698,862
CAFR Adjustment (175,439) - - - - -
Contingency 460,603 489,298 489,298 496,093 - 496,093
Debt Service Reserve - 210,318 200,169 202,769 - 202,769
Reserved for Capital - - - - - -
Available Fund Balance 7,669,693 0 8,146,935 180,000 (180,000) -
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1
ADMINISTRATIVE SERVICES CONTRACT
BETWEEN THE CITY OF GEORGETOWN, TEXAS
AND THE GEORGETOWN ECONOMIC DEVELOPMENT CORPORATION
STATE OF TEXAS §
COUNTY OF WILLIAMSON §
THIS CONTRACT FOR SERVICES ("Contract") is made by and between the City of
Georgetown, 808 Martin Luther King, Georgetown, Texas 78626, hereinafter called
"City" and the Georgetown Economic Development Corporation, having its principal
business address at 808 Martin Luther King Jr., Georgetown, Texas 78626, hereinafter
called "Corporation" for the purpose of contracting for administrative services of the staff
and employees of the City.
WITNESSETH
WHEREAS, on May 7, 2005 the City established the Corporation pursuant to Secion 4A
of the Economic Development Corporation Act of 1979, as amended (Vernon's Rev. Civ.
Stat. Ann., Article 5190.6. § 4(A), as amended) (the “Act”) to promote and develop new
and expanded business enterprises on behalf of the City of Georgetown.
WHEREAS, on June 21, 2005 the City Council approved the Articles of Incorporation for
the Corporation.
WHEREAS, on December 13, 2005 the Board of Directors of the Corporation approved
the Bylaws of the Corporation.
WHEREAS, on January 10, 2006 the City Councl approved the Bylaws of the
Corporation.
WHEREAS, Section 3.08 of said Bylaws provide that the City and the Corporation shall
execute an administrative services contract for the services to be provided to the
Corporation by the City by the General Manager, Finance Director, City Attorney, and
other City personnel, services or functions, pursuant to. Section 2(4) of the Act, which
authorizes the Corporation to pay administrative and legal expenses which are
necessary or incidental to placing a project into operation; and
WHEREAS. the City and Corporation desire to contract for administrative services
described as follows: the services provided by the City Manager, Finance Director, the
staff and employees of the City's Finance and Administration Division, and the Economic
Development Department, as well as, the City Attorney's Office.
AGREEMENT
NOW, THEREFORE, the City and Corporation, in consideration of the mutual covenants
and agreements herein contained, do hereby mutually agree as follows:
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ARTICLE I
SCOPE OF SERVICES TO BE PROVIDED BY CITY
The City will furnish items and perform those services for fulfillment of the Contract as
identified in the Bylaws of the Corporation.
ARTICLE 2
CONTRACT PERIOD
This Contract shall begin at the start of business on October 1, 2020 and terminate at
the close of business on September 30, 2021 unless extended by written supplemental
agreement duly executed by the Corporation and the City prior to the date of termination.
Any work performed or cost incurred prior to the date of this contract and after
estabilishment of the Corporation, will be reimbursemented as in the terms of the
Contract.
ARTICLE 3
CONTRACT PRICE
Corporation shall pay City for the services contemplated herein as follows:
1. For all administrative and legal services, the monthly flat fee of $23,648.58 as
identified in Attachment A.
External third party legal services will be billed separately as needed.
ARTICLE 4
PAYMENT PROCEDURES
The Corporation shall pay the City $23,648.58 per month on the first of each
month, begininng on October 1, 2020, during the term of this Agreement. In
addition, the Corporation shall pay for all external legal or other professional
services invoices pursuant to the Article 3 within thirty (30) days of receipt.
ARTICLE 5
OWNERSHIP OF DOCUMENTS
All data, basic sketches, charts, calculations, plans, specifications, and other documents
created or collected under the terms of this Contract are the exclusive property of the
Corporation and shall be furnished to the Corporation upon request. Release of
information to the public shall be subject to and in conformance with the Texas Public
Information Act.
ARTICLE 6
SUSPENSION
As authorized by Section 3.08 of the Corporation’s Bylaws, the City may suspend
services under this Contract without committing a breach of its terms upon the
occurrence of any of the following:
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(1) The City Manager does not approve of the utilization of any or all services;
(2) The City Manager feels the City is not receiving reasonable compensation for any or
all services; or
(3) The performance of a service materially interferes with the other duties of the
affected City personnel.
ARTICLE 7
TERMINATION
The Contract may be terminated before the stated termination date by any of the
following conditions:
(1) By mutual written agreement and consent; or
(2) By either party, upon the failure of the other party to fulfill its obligations as set forth
herein; or
(3) By either party for reasons of its own and without the consent of the other party,
provided that at least thirty (30) days written notice is provided to the other party.
The termination of this Contract and payment of an amount in settlement as prescribed
in Article 3, above shall extinguish all rights, duties, and obligations of the City and the
Corporation under this Contract.
ARTICLE 8
INDEMINIFICATION
Corporation's Indemnification. The Corporation agrees, to the extent permitted by
law, to save harmless the City and its agents, officers and employees from all
claims and liability due. to activities of itself, its agents, officers, or employees,
performed under this Contract and which are caused by or result from error,
omission, or negligent act of the Corporation or of the Corporation’s agents,
officers, and employees. The Corporation shall also save harmless the City and its
agents, officers, and employees from any and all expense, including, but not
limited to, attorney fees which may be incurred by the City in litigation or
otherwise resisting said claim or liabilities which may be imposed on the City as a
result of such activities by the Corporation, its agents, officers, or employees.
This indemnity shall not include claims based upon or arising out of the willful
misconduct of City, its agents, officers or employees. Further, this indemnity shall
not require payment of a claim by City or its agents, officers or employees as a
condition precedent to City's recovery under this provision.
City's Indemnification. The City agrees, to the extent permitted by law, to save
harmless the Corporation and its agents, officers, and employees from all claims
and liability due to activities of itself, its agents, officers, or employees, performed
under this Contract and which are caused by or result from error, omission, or
negligent act of the City or the City’s agents, officers, or employees. The City
shall also save harmless the Corporation from any and all expense, including, but
not limited to, attorney fees which my be incurred by the Corporation in litigation
or otherwise resisting said claim or liabilities which may be imposed on the
Corporation as a result of such activities by the City, its agents, officers, or
employees. This indemnity shall not include claims based upon or arising out of
the willful misconduct of Corporation, its agents, officers or employees. Further,
this indemnity shall not require payment of a claim by Corporation or its officers
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or employees as a condition precedent to Corporation's recovery under this
provision.
ARTICLE 9
SEVERABILITY
In the event any one or more of the provisions contained in this Contract shall for any
reason, be held to be invalid, illegal, or unenforceable in any respect, such invalidity,
illegality, or unenforceability shall not affect any other provision thereof and this Contract
shall be construed as if such invalid, illegal, or unenforceable provision had never been
contained herein.
ARTICLE 10
PRIOR CONTRACTS SUPERSEDED
This Contract constitutes the sole and only agreement of the parties hereto and
supersedes any prior understandings or written or oral contracts between the parties
respecting the subject matter defined herein.
ARTICLE 11
NOTICES
All notices to either party by the other required under this Contract shall be personally
delivered or mailed to such party at the following respective addresses:
For City: City Manager
City of Georgetown
P.O. Box 409
Georgetown, Texas 78627
For Corporation: General Manager
Georgetown Economic Development Corporation
P.O. Box 409
Georgetown, Texas 78627
Page 36 of 85
5
ARTICLE 12
SIGNATORY WARRANTY
The undersigned signatory or signatories for the parties hereby represent and warrant
that the signatory is an officer of the organization for which be or she has executed this
Contract and that he or she has full and complete authority to enter into this Contract on
behalf of the firm. The above-stated representations and warranties arc made for the
purpose of inducing the other party to enter into this Contract.
IN WITNESS HEREOF, the City and the Corporation have executed these presents in
duplicate on this the ____ day of_________, 2020.
GEORGETOWN ECONOMIC DEVELOPMENT CORPORATION
By:
Printed Name:
Title:
ATTEST:
By:
Printed Name:
Title:
CITY OF GEORGETOWN
By:
Printed Name: Dale Ross
Title: Mayor
ATTEST:
By:
Printed Name: Robyn Densomre
Title: City Secretary
APPROVED AS TO FORM:
Skye Masson
City Attorney
Page 37 of 85
6
Attachment A
The GEDCO Administrative Allocation for departments such as City
Manager’s Office, Finance and Accounting, and the Legal Deparment totals
$283,783 for FY2021. This equates to $23,648.58 per month.
Page 38 of 85
City of Georgetown, Texas
Georgetown Economic Development Corporation
July 20, 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
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.
• P erfo rmanc e Agreement R eport
• Ac tivity R ep o rt
• O ther S taff I tems
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
Performance Agreement Report Cover Memo
Activity Report - July 2020 Cover Memo
Page 39 of 85
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
July 20, 2020
Page 40 of 85
Name Description
Start Date (Council
Approved)End Date $ Encumbered $ Expended
GEDCO - AGREEMENTS STATUS REPORT
June 16, 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 41 of 85
Economic Development
Activity Report
July 2020
Page 42 of 85
Strategic Goal 1
Support existing businesses
and industries
Page 43 of 85
0
10
20
30
40
50
60
70
80
90
Jul 19 Aug 19 Sep 19 Oct 19 Nov 19 Dec 19 Jan 20 Feb 20 Mar 20 Apr 20 May 20 Jun 20
Business Retention Activity
Visits Touches
Page 44 of 85
Business Retention Activity
•Summer Shop Small Saturday –postponed
•Partnering with Chamber on a Shop Georgetown
Campaign through social media
•Continuous outreach to businesses
•Planning a Drive Thru BBQ Business Appreciation
Event for September 11
Page 45 of 85
Strategic Goal 2
Enhance targeted recruitment
of identified industries
Page 46 of 85
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 47 of 85
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 48 of 85
0
2
4
6
8
10
12
14
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
Fe
b
2
0
Ma
r
2
0
Ap
r
2
0
Ma
y
2
0
Ju
n
2
0
Qualified Leads Comparison
Leads Qualified
We have qualified for an average of 58% of leads over the last 12 months.
Page 49 of 85
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 50 of 85
0
10
20
30
40
50
60
70
80
90
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
Fe
b
2
0
Ma
r
2
0
Ap
r
2
0
Ma
y
2
0
Ju
n
2
0
Active Projects
Development Hot Warm Cold
Page 51 of 85
Recruitment Activity
•Preparing direct targeting campaign outreach for late
summer
•Producing virtual site visits to use in outreach
•Continued lead generation with ROI, Inc. and have
had several virtual visits with companies (may be the
new norm for a while)
•Most trade shows and recruitment trips for the
remainder of the year have been cancelled
Page 52 of 85
Strategic Goal 3
Diversify workforce development
and recruitment initiatives
Page 53 of 85
Workforce Development Activity
•Working with Rural Area Capital and GISD for a virtual
career fair
•Planning Manufacturing Day with GISD and Chamber
•Planning the Veterans and Military Spouses Virtual Job
Fair
Page 54 of 85
Strategic Goal 4
Encourage speculative
development
Page 55 of 85
Speculative Development Activity
•Continuing to work with prospective industrial
speculative developers
•Working with existing projects through development
process
•Looking for proactive infrastructure scenarios
Page 56 of 85
Overall Objective
Tell our story to a
broader local audience
Page 57 of 85
Other Activity
•Main Street was awarded the Chamber’s Economic
Development Cornerstone award!
•Updated target industry brochures with new
demographics on website
•Planning a marketing video production with the WilCo
EDP
•Holding on planning the economic development
symposium until later in the year; coordinating with
the Chamber
Page 58 of 85
Economic Indicators
Page 59 of 85
-
500
1,000
1,500
2,000
2,500
$-
$100.0
$200.0
$300.0
$400.0
$500.0
$600.0
$700.0
$800.0
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
Fe
b
2
0
Ma
r
2
0
Ap
r
2
0
Ma
y
2
0
Ju
n
e
2
0
Construction Permit Applications
Valuation
(in millions)
# of Permits
Page 60 of 85
0
2
4
6
8
10
12
14
16
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
Fe
b
2
0
Ma
r
2
0
Ap
r
2
0
Ma
y
2
0
Ju
n
2
0
Certificates of Occupancy Issued
Page 61 of 85
$-
$500,000
$1,000,000
$1,500,000
$2,000,000
$2,500,000
$3,000,000
$3,500,000
$4,000,000
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 FY 2020
Page 62 of 85
0.0%
2.0%
4.0%
6.0%
8.0%
10.0%
12.0%
14.0%
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
Fe
b
2
0
Ma
r
2
0
Ap
r
2
0
Ma
y
2
0
Unemployment Rate
Unemployment Rate Rolling 12-Month Average
Page 63 of 85
City of Georgetown, Texas
Georgetown Economic Development Corporation
July 20, 2020
S UB J E C T:
C o nsideration and c o ns ent to as s ignment of the Motio n C o mmercial P ro perties , LLC agreement to Titan
No rthP ark35 -- Mic haela Do llar, Ec o nomic Development Directo r
IT E M S UMMARY:
Motio n C o mmerc ial P roperties and Titan Develo p ment have created a jo int venture to develo p phas e one
o f a larger b us ines s p ark, whic h will enc o mpas s the Texas S p eed exp ansion. S taff reques ts cons ent to
trans fer the exis ting agreement fo r $1,000,000 infras tructure reimb ursement with Mo tion C ommerc ial
P ro p erties approved by c o uncil No vember 12, 2019 to the joint venture, Titan No rthP ark35.
F IN AN C IAL IMPAC T:
No additio nal impac t.
S UB MIT T E D B Y:
Mic haela Dollar
AT TAC H ME N T S:
D escription Type
As s ignment Agreement Cover Memo
Page 64 of 85
1
ASSIGNMENT AND ASSUMPTION
OF ECONOMIC DEVELOPMENT INCENTIVE AGREEMENT
THIS ASSIGNMENT AND ASSUMPTION OF ECONOMIC DEVELOPMENT INCENTIVE
AGREEMENT (“Assignment”) is made and entered into effective as of July _____, 2020, by and among
the Georgetown Economic Development Corporation, a Type A sales tax corporation (“GEDCO”),
Motion Commercial Properties, LLC, a Texas limited liability company (“Company”), and Titan
NorthPark35, LLC, a Texas limited liability company (“Titan”).
A. GEDCO and Company entered into that certain Economic Development Incentive
Agreement dated November 15, 2019 (“Development Agreement”) for the provision of economic
development grants by GEDCO to Company for the construction of certain Infrastructure (as defined
therein), a true, correct and complete copy of which is attached hereto as Exhibit “A” and made a part
hereof;
B. Titan is under contract to purchase the Land (as defined in the Development Agreement),
which Titan intends to develop into an industrial business park; and
C. Company wishes to assign its rights, title and interests under the Development Agreement
to Titan, and Titan, an affiliate of Company, wishes to accept and assume all rights, title and interests
under the Development Agreement from Company as set forth hereunder.
NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which
are hereby acknowledged, GEDCO, Company and Titan agree as follows:
1. Assignment and Assumption. Company hereby assigns, transfers, sets over and conveys
to Titan, its successors and assigns, all right, title and interest of Company in, under and to the
Development Agreement. Titan hereby assumes and agrees to perform all of Company’s obligations
under the Development Agreement accruing and to be performed from and after the date hereof. GEDCO
hereby expressly consents to this assignment and assumption of the Development Agreement provided
however the consent to assignment by GEDCO is expressly subject to and conditioned upon Titan closing
its purchase of the Land on or before December 15, 2020.
2. Notice. GEDCO’s and Titan’s respective addresses for notice hereafter are set forth
herein below. All notices shall be given in the same manner set forth in notice provisions contained in.
GEDCO: Georgetown Economic Development Corporation
Attn: President
City of Georgetown
808 Martin Luther King, Jr. Street
Georgetown, TX 78626
With a copy to: City of Georgetown
Attn: City Attorney
113 E. Eighth Street
Georgetown, TX 78633
DocuSign Envelope ID: 2AF88132-863E-4886-A096-BB0990A682B5
Page 65 of 85
2
TITAN: Titan NorthPark35, LLC
Attn: Kevin L. Reid, Manager
9601 McAllister Fwy., Suite 1120
San Antonio, TX 78216
With a copy to: Christopher M. Pacheco
6300 Riverside Plaza Ln., NW Suite 200
Albuquerque, NM 87120
3. Successors and Assigns. This Assignment shall be binding upon and inure to the benefit
of GEDCO and Titan, and their respective heirs, executors, administrators, successors, and assigns.
4. Counterparts. This Agreement may be executed in multiple counterparts, each of which
shall constitute an original, but all of which shall constitute one document. Delivery of an executed
counterpart of this Agreement by facsimile shall be equally as effective as delivery of an executed
original counterpart and shall constitute a covenant to deliver an executed original counterpart, but the
failure to do so shall not affect the validity, enforceability and binding effect of this Agreement.
5. Governing Law. This Assignment shall be governed by the laws of the State of Texas,
and venue for any action concerning this Assignment shall be in the State District Court of Williamson
County, Texas.
[Remainder of page intentionally left blank]
DocuSign Envelope ID: 2AF88132-863E-4886-A096-BB0990A682B5
Page 66 of 85
3
IN WITNESS WHEREOF, GEDCO, Company and Titan have signed this Assignment as of the
day and year first above written.
GEORGETOWN ECONOMIC
DEVELOPMENT CORPORATION
By:
Steven Bohnenkamp, President
TITAN NORTHPARK35, LLC
By: Titan Property Management, LLC
its Manager
By:
Kevin L. Reid, Manager
MOTION COMMERCIAL PROPERTIES, LLC
By:
Name:
Title:
DocuSign Envelope ID: 2AF88132-863E-4886-A096-BB0990A682B5
Trevor Doelling
President
Page 67 of 85
DocuSign Envelope ID: 2AF88132-863E-4886-A096-BB0990A682B5
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DocuSign Envelope ID: 2AF88132-863E-4886-A096-BB0990A682B5
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DocuSign Envelope ID: 2AF88132-863E-4886-A096-BB0990A682B5
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DocuSign Envelope ID: 2AF88132-863E-4886-A096-BB0990A682B5
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DocuSign Envelope ID: 2AF88132-863E-4886-A096-BB0990A682B5
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DocuSign Envelope ID: 2AF88132-863E-4886-A096-BB0990A682B5
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DocuSign Envelope ID: 2AF88132-863E-4886-A096-BB0990A682B5
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DocuSign Envelope ID: 2AF88132-863E-4886-A096-BB0990A682B5
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DocuSign Envelope ID: 2AF88132-863E-4886-A096-BB0990A682B5
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DocuSign Envelope ID: 2AF88132-863E-4886-A096-BB0990A682B5
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DocuSign Envelope ID: 2AF88132-863E-4886-A096-BB0990A682B5
Page 78 of 85
DocuSign Envelope ID: 2AF88132-863E-4886-A096-BB0990A682B5
Page 79 of 85
DocuSign Envelope ID: 2AF88132-863E-4886-A096-BB0990A682B5
Page 80 of 85
City of Georgetown, Texas
Georgetown Economic Development Corporation
July 20, 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 81 of 85
City of Georgetown, Texas
Georgetown Economic Development Corporation
July 20, 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 82 of 85
City of Georgetown, Texas
Georgetown Economic Development Corporation
July 20, 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 83 of 85
City of Georgetown, Texas
Georgetown Economic Development Corporation
July 20, 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.
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 84 of 85
City of Georgetown, Texas
Georgetown Economic Development Corporation
July 20, 2020
S UB J E C T:
Ad jo urn
IT E M S UMMARY:
F IN AN C IAL IMPAC T:
N/A
S UB MIT T E D B Y:
Mic haela Dollar
Page 85 of 85