HomeMy WebLinkAboutAgenda_GEDCO_08.15.2016Notice of Meeting for the
Georgetown Economic Dev elopment Corporation and the Gov erning Body
of the City of Georgetown
August 15, 2016 at 4:00 PM
at the City Council Chambers, located at 101 E. 7th Street, Georgetown, TX 78626
The City o f G eo rgeto wn is committed to comp lianc e with the Americans with Dis abilities Ac t (ADA). If yo u
req uire as s is tanc e in participating at a p ublic meeting d ue to a disability, as d efined und er the ADA, reas onab le
as s is tance, ad ap tatio ns , or acc o mmo d ations will b e provid ed up o n req uest. P leas e c o ntact the City Sec retary's
Office, at leas t three (3) days prior to the sc hed uled meeting d ate, at (512) 930-3652 o r City Hall at 113 Eas t 8th
Street fo r add itional info rmation; TTY us ers ro ute through Relay Texas at 711.
Regular Session
(This Regular S es s io n may, at any time, b e rec es s ed to convene an Exec utive S es s io n fo r any p urpose
authorized b y the Op en Meetings Act, Texas Go vernment Co d e 551.)
A Co nsideration and approval of the minutes fo r Georgetown Ec o nomic Develo p ment Co rp o ration for the
Regular Meeting held Friday, June 17, 2016--Kevin Kelly, S ecretary
B Co nsideration of the June 30, 2016 and July 31, 2016 Financ ial Rep o rts . Leigh Wallace, F inance Manager,
GEDCO, F inance Direc tor, COG.
C Pres entatio n, dis c us sion and possible action regard ing an overview of projec t typ es eligib le for GEDC O
funding.
D Dis cus s ion and pos s ible actio n regarding the Staff Rep o rt —David Morgan, C ity Manager
-P erformance Agreement Report
-Retail Stud y and Rec ruitment Plan
-Other Pro jec ts
E Actio n o ut o f Exec utive Session.
Executiv e Session
In compliance with the Op en Meetings Act, C hapter 551, Go vernment Code, Vernon's Texas Codes,
Annotated, the items lis ted below will be d is c us s ed in closed s es s io n and are s ubjec t to actio n in the regular
s es s io n.
F Sec. 551.071: CONSULTATION WITH ATTORNEY
Co nsultation with attorney regarding legal is s ues related to agenda items and other matters in whic h (1)
when the go vernmental body seeks the advic e o f its attorney ab o ut: (A) p ending o r c o ntemp lated
litigatio n; o r (B) a s ettlement o ffer; o r (2) o n a matter in which the d uty of the attorney to the go vernmental
body under the Texas Dis ciplinary Rules o f P ro fes s io nal Cond uc t o f the S tate Bar o f Texas clearly
c o nflic ts with this chap ter.
G Section 551.072. DELIBERATIONREGARDING REAL PROPERTY
Dis cus s ion and pos s ible actio n to d elib erate the p urc hase,exc hange, leas e or value of real property for
purp o s es authorized b y the Development C o rp o ration Ac t which disc us s io n in o p en s es s io n would have
adetrimental effect on negotiations with third pers ons .
Page 1 of 18
H Section 551.087. DELIBERATION REGARDING ECONOMIC DEVELOPMENT
NEGOTIATIONS.
Delib eratio n regarding commerc ial or financ ial info rmation that the corp o ration has rec eived fro m a
bus iness pros pec t that the Georgetown Ec ono mic Develo p ment Co rp oratio n s eeks to have loc ate, stay, or
exp and in or near the territory of the City o f Georgetown and with whic h the C o rp o ration is cond uc ting
ec o nomic d evelopment nego tiatio ns; and/o r deliberatio n regarding the o ffer of a financ ial or o ther
incentive to a bus iness p ro s p ect that the C o rp o ration seeks to have lo cate, s tay, o r exp and in o r near the
territory o f the City o f Georgetown.
- Pro ject Ho p
- Project Badge
CERTIFICATE OF POSTING
I, Shelley No wling, C ity S ecretary fo r the C ity of Geo rgeto wn, Texas , d o hereby c ertify that this Notice of
Meeting was p o s ted at City Hall, 113 E. 8th Street, a p lace read ily acc es s ible to the general p ublic at all times ,
on the ______ d ay o f __________________, 2016, at __________, and remained so p o s ted fo r at leas t 72
c o ntinuo us ho urs p receding the sc heduled time o f s aid meeting.
____________________________________
S helley No wling, City Sec retary
Page 2 of 18
City of Georgetown, Texas
Georgetown Economic Development Corporation
August 15, 2016
SUBJECT:
Cons id eration and ap p ro val o f the minutes for Geo rgeto wn Econo mic Development Corporatio n fo r the
Regular Meeting held F rid ay, June 17, 2016--Kevin Kelly, Sec retary
ITEM SUMMARY:
ATTACHMENTS:
1. Draft Minutes for the Regular Meeting held Friday, June 17, 2016
FINANCIAL IMPACT:
None
SUBMITTED BY:
Shirley Rinn for Kevin Kelly, Co rp o rate Sec retary
ATTACHMENTS:
Description Type
june minutes Cover Memo
Page 3 of 18
GEDCO Minutes
June 17, 2016
Page 1 of 2
Minutes of the Special Meeting of the
Georgetown Economic Development Corporation
And the Governing Body of the
City of Georgetown, Texas
June 17, 2016
The Georgetown Economic Development Corporation of the City of Georgetown, Texas, met on
Monday, June 17, 2016.
Members Present: Kevin Kelly, Rachel Jonrowe, Bill Mateja, Jeff Parker, Hugh Brown, Steve
Fought, Steve Klein
Staff Present: David Morgan, City Manager/General Manager; Wayne Reed, Assistant City
Manager; Charlie McNabb, City Attorney; Laurie Brewer, Assistant City
Manager; Conchita Gusman, Economic Development Program Manager;
Leah Wallace, Finance Director/Finance Manager; Debbie Mitchell, Senior
Accountant; Paul Diaz, Budget Manager; Tina Dunbar, Administrative
Assistant; Andreina Davila, Project Coordinator
MINUTES
Call to Order at 10:00 am
Legislative Regular Session
A. Consideration and approval of the minutes of the Georgetown Economic Development
Corporation Regular Meetings held Monday, April 18 and Monday, May 16, 2016--Kevin Kelly,
Secretary
Motion by Mateja, second by Jonrowe to approve the March 21, 2016 minutes. (Approved 6-0)
B. Presentation, discussion and possible action regarding the Retail Strategy & Recruitment Plan -
Jason Claunch, Catalyst Commercial, Inc.
Jason Claunch provided an overview of the Retail Strategy & Recruitment Plan and the
reaction/comments of attendees at his presentation to downtown Georgetown stakeholders.
Discussion was held and Claunch answered questions from GEDCO members.
C. Consideration of the May 31, 2016 Financial Reports -- Leigh Wallace, Finance Director, COG,
Finance Manager, GEDCO
Wallace presented the reports and explained the new report format.
Klein arrived at 10:30
D. Discussion and possible action to adopt the FY2017 proposed GEDCO budget and set a date for
the public hearing on the proposed budget. Leigh Wallace, Finance Director, COG, Finance
Manager, GEDCO
Page 4 of 18
GEDCO Minutes
June 17, 2016
Page 2 of 2
Wallace presented the GEDCO 2017 budget. Discussion was held and Wallace answered
questions from GEDCO members.
Motion by Jonrowe, second by Mateja to approve the FY2017 Budget. Fought requested that
an item to provide funds for TLCC be added to the Budget. Motion by Jonrowe, second by
Mateja to approve the FY2017 Budget with the addition of funding for TLCC. (Approved 7-0)
E. Sales tax presentation regarding FY2016 and FY2017 projected sales tax collections.
Paul Diaz provided a presentation of FY2016 and FY2017 projected sales tax collections.
F. Discussion and possible action regarding the Project Progress Report—Wayne Reed, Assistant City
Manager
Reed and Gusman provided updates on the performance agreements and explained that the
report format will be updated at the next meeting. Reed presented an update on the search
for the Economic Development Director.
G. Discussion, and possible action regarding the Performance Agreement between GEDCO and the
Georgetown Independent School District (GISD) - Wayne Reed, Assistant City Manager
Gusman provided and explanation of the history of the GISD Performance Agreement and
amendments requested by GISD. Discussion was held on the request.
Motion by Jonrowe, second by Parker to approve the amended Performance Agreement.
(Approved 7-0)
H. Discussion and possible action regard the Performance Agreement between GEDCO and DiFusion
Technologies, Inc. - Wayne Reed, Assistant City Manager
Reed provided the status of the Performance Agreement and information on the process of
terminating the agreement. Discussion was held on the impact of the Agreement termination
to GEDCO and TLCC.
I. Action out of Executive Session
No Executive Session was held.
Adjourn at 11:45 am
ATTEST:
______________________________ ___________________________________
Kevin Kelly, Corporate Secretary Hugh Brown, President
Page 5 of 18
City of Georgetown, Texas
Georgetown Economic Development Corporation
August 15, 2016
SUBJECT:
Cons id eration o f the June 30, 2016 and July 31, 2016 F inancial Reports . Leigh Wallac e, Financ e Manager,
GEDCO, Financ e Directo r, COG.
ITEM SUMMARY:
See Attachments
FINANCIAL IMPACT:
None
SUBMITTED BY:
Leigh Wallace, Financ e Manager, GEDCO F inanc e Direc tor, COG
ATTACHMENTS:
Description Type
Financial Report Cover Memo
Page 6 of 18
GEDCO Board Meeting Date: August 15, 2016 Item No. __________
GEORGETOWN ECONOMIC DEVELOPMENT CORPORATION
AGENDA ITEM COVER SHEET
_________________________________________________________________
SUBJECT:
Consideration of the June 30, 2016 and July 31, 2016 Financial Reports. Leigh Wallace,
Finance Manager, GEDCO, Finance Director, COG.
_________________________________________________________________
ITEM SUMMARY:
The corporate bylaws require the Finance Manager to present the monthly financial
reports to the Board. Included in these reports will be:
• Financial reports
• Sales Tax revenues
• Monthly expenditures
• Any other relevant financial information
Sales tax revenue is two months in arrears. Included in this report is the sales tax revenue
collected in May and June for sales in March and April. Payments made to vendors for
the month of June are also included. There were no payments made to vendors in the
month of July.
ATTACHMENTS:
Monthly Financial Reports
Sales Tax History
SUBMITTED BY:
Leigh Wallace
Finance Manager, GEDCO
Finance Director, COG
Page 7 of 18
YEAR-END YEAR-END
APPROVED JUN-16 YEAR TO DATE YEAR-END VARIANCE % VARIANCE
BUDGET W/ENCUMB W/ENCUMB PROJECTION FAV(UNFAV)FAV(UNFAV)
BEGINNING BALANCE 5,370,479 5,378,900 8,421 0.2%
OPERATING REVENUES
Sales Tax 1,345,313 104,859 818,478 1,406,750 61,437 4.6%
Interest 7,500 3,042 16,981 12,427 4,927 65.7%
Miscellaneous Revenue 0 9,938 59,958 56,750 56,750 NA
Lease Revenue (Grape Creek)48,000 4,000 36,000 48,000 0 0.0%
Total Operating Revenues 1,400,813 121,839 931,417 1,523,927 123,114 8.8%
OPERATING EXPENDITURES
Debt Service 106,694 0 16,133 106,694 0 0.0%
Bond Issuance Costs 87,500 0 18,224 18,224 69,276 79.2%
Interlocal Agreement 211,200 0 136,611 136,611 74,589 35.3%
Supplies 300 0 2 2 298 99.3%
Special Services 7,500 0 0 0 7,500 100.0%
Travel & Training 1,500 0 730 730 770 51.3%
Promotional & Marketing Program 81,000 6,000 25,552 25,552 55,448 68.5%
Miscellaneous Expense 2,500 11,429 11,429 11,429 (8,929)(357.2%)
Total Operating Expenditures 498,194 17,429 208,681 299,242 198,952 39.9%
TOTAL NET OPERATIONS 902,619 104,410 722,736 1,224,685 (75,838)(8.4%)
NON-OPERATING REVENUES
Bond Proceeds 3,100,000 0 2,977,185 2,977,185 (122,815)(4.0%)
Premium on Bond Issuance 0 0 141,562 141,562 141,562 NA
Total Non-Operating Revenues 3,100,000 0 3,118,747 3,118,747 18,747 0.6%
NON-OPERATING EXPENDITURES
Catalyst 71,000 0 0 71,000 0 0.0%
DisperSol 200,000 0 20,000 20,000 180,000 90.0%
Economic Development Projects -Undetermined 3,988,774 0 0 0 3,988,774 100.0%
Georgetown ISD 109,496 0 0 15,649 93,847 85.7%
Rivery 4,500,000 0 0 4,500,000 0 0.0%
Tasus 67,500 0 0 0 67,500 100.0%
Texas Life Sciences 100,000 0 100,000 100,000 0 0.0%
Total Non-Operating Expenditures 9,036,770 0 120,000 4,706,649 4,330,121 47.9%
TOTAL NET NON-OPERATIONS (5,936,770)0 2,998,747 (1,587,902)(4,311,374)72.6%
EXCESS (DEFICIENCY) OF TOTAL
REVENUE OVER TOTAL
REQUIREMENTS (5,034,151)104,410 3,721,483 (363,217)4,670,934 (92.8%)
ENDING BALANCE 336,328 5,015,683 4,679,355 1,391.3%
RESERVED ENDING BALANCE 336,328 351,688
Georgetown Economic Development Corporation Fund
Year End Projection to Approved as of June 2016
Page 8 of 18
As of June 30, 2016
Georgetown Economic Development Corporation
Sales Tax History
Variance % Var.
MONTH [a]2010-11 2011-12 2012-13 2013-14 2014-15 2015-16 To FY 15 To FY 15
October 66,121$ 70,264$ 86,324$ 91,863$ 98,094$ 106,050$ 7,956$ 8.11%
November 77,461 74,472 82,083 99,552 102,891 112,766 9,875$ 9.60%
December 116,780 111,968 117,582 134,682 143,774 148,200 4,426$ 3.08%
January 67,968 73,177 82,714 89,357 87,695 96,563 8,868$ 10.11%
February 57,904 72,946 77,890 86,901 89,107 108,117 19,010$ 21.33%
March 108,015 105,822 115,564 114,355 123,951 133,492 9,541$ 7.70%
April 72,100 81,362 84,420 106,002 102,671 108,977 6,306$ 6.14%
May 73,307 80,919 94,412 112,572 95,699 120,418 24,719$ 25.83%
June 101,012 99,664 114,132 123,306 130,589
July 69,781 89,969 92,765 102,435 108,994
August 75,202 85,792 92,735 98,015 102,888
September 89,831 88,334 125,197 119,473 125,201
Total 975,483$ 1,034,688$ 1,165,819$ 1,278,513$ 1,311,554$ 934,583$
YTD 639,657 670,929 740,989 835,284 843,882 934,583 110.75%
Notes:
[a]Sales tax revenue from the State Comptroller is received two months in arrears.
Sales tax for May will actually be received in July
$-
$20,000
$40,000
$60,000
$80,000
$100,000
$120,000
$140,000
$160,000
Re
v
e
n
u
e
s
Sales Tax 3 Year Trend
2013-14
2014-15
2015-16
Page 9 of 18
• Promotions & Marketing Program:
- Conway Data Inc.
• Contracts - Other:
- Williamson County Tax Collector
Page 10 of 18
YEAR-END YEAR-END
APPROVED JUL-16 YEAR TO DATE YEAR-END VARIANCE % VARIANCE
BUDGET W/ENCUMB W/ENCUMB PROJECTION FAV(UNFAV)FAV(UNFAV)
BEGINNING BALANCE 5,370,479 5,378,900 8,421 0.2%
OPERATING REVENUES
Sales Tax 1,345,313 116,104 939,439 1,406,750 61,437 4.6%
Interest 7,500 3,022 20,003 12,427 4,927 65.7%
Miscellaneous Revenue 0 0 59,958 56,750 56,750 NA
Lease Revenue (Grape Creek)48,000 4,000 40,000 48,000 0 0.0%
Total Operating Revenues 1,400,813 123,126 1,059,400 1,523,927 123,114 8.8%
OPERATING EXPENDITURES
Debt Service 106,694 90,562 106,695 106,694 0 0.0%
Bond Issuance Costs 87,500 0 18,224 18,224 69,276 79.2%
Interlocal Agreement 211,200 0 136,611 136,611 74,589 35.3%
Supplies 300 0 2 2 298 99.3%
Ads, Notices, Recording Fees 0 0 56 0 0 NA
Special Services 7,500 0 0 0 7,500 100.0%
Travel & Training 1,500 0 730 730 770 51.3%
Promotional & Marketing Program 81,000 0 38,352 25,552 55,448 68.5%
Miscellaneous Expense 2,500 0 11,429 11,429 (8,929)(357.2%)
Total Operating Expenditures 498,194 90,562 312,099 299,242 198,952 39.9%
TOTAL NET OPERATIONS 902,619 32,564 747,301 1,224,685 (75,838)(8.4%)
NON-OPERATING REVENUES
Bond Proceeds 3,100,000 0 2,977,185 2,977,185 (122,815)(4.0%)
Premium on Bond Issuance 0 0 141,562 141,562 141,562 NA
Total Non-Operating Revenues 3,100,000 0 3,118,747 3,118,747 18,747 0.6%
NON-OPERATING EXPENDITURES
Catalyst 71,000 0 0 71,000 0 0.0%
DisperSol 200,000 0 20,000 20,000 180,000 90.0%
Economic Development Projects -Undetermined 3,988,774 0 0 0 3,988,774 100.0%
Georgetown ISD 109,496 0 0 15,649 93,847 85.7%
Rivery 4,500,000 0 0 4,500,000 0 0.0%
Tasus 67,500 0 0 0 67,500 100.0%
Texas Life Sciences 100,000 0 100,000 100,000 0 0.0%
Total Non-Operating Expenditures 9,036,770 0 120,000 4,706,649 4,330,121 47.9%
TOTAL NET NON-OPERATIONS (5,936,770)0 2,998,747 (1,587,902)(4,311,374)72.6%
EXCESS (DEFICIENCY) OF TOTAL
REVENUE OVER TOTAL
REQUIREMENTS (5,034,151)32,564 3,746,048 (363,217)4,670,934 (92.8%)
ENDING BALANCE 336,328 5,015,683 4,679,355 1,391.3%
RESERVED ENDING BALANCE 336,328 351,688
Georgetown Economic Development Corporation Fund
Year End Projection to Approved as of July 2016
Page 11 of 18
As of July 31, 2016
Georgetown Economic Development Corporation
Sales Tax History
Variance % Var.
MONTH [a]2010-11 2011-12 2012-13 2013-14 2014-15 2015-16 To FY 15 To FY 15
October 66,121$ 70,264$ 86,324$ 91,863$ 98,094$ 106,050$ 7,956$ 8.11%
November 77,461 74,472 82,083 99,552 102,891 112,766 9,875$ 9.60%
December 116,780 111,968 117,582 134,682 143,774 148,200 4,426$ 3.08%
January 67,968 73,177 82,714 89,357 87,695 96,563 8,868$ 10.11%
February 57,904 72,946 77,890 86,901 89,107 108,117 19,010$ 21.33%
March 108,015 105,822 115,564 114,355 123,951 133,492 9,541$ 7.70%
April 72,100 81,362 84,420 106,002 102,671 108,977 6,306$ 6.14%
May 73,307 80,919 94,412 112,572 95,699 120,418 24,719$ 25.83%
June 101,012 99,664 114,132 123,306 130,589 142,767 12,178$ 9.33%
July 69,781 89,969 92,765 102,435 108,994
August 75,202 85,792 92,735 98,015 102,888
September 89,831 88,334 125,197 119,473 125,201
Total 975,483$ 1,034,688$ 1,165,819$ 1,278,513$ 1,311,554$ 1,077,350$
YTD 740,669 770,592 855,121 958,590 974,471 1,077,350 110.56%
Notes:
[a]Sales tax revenue from the State Comptroller is received two months in arrears.
Sales tax for June will actually be received in August
$-
$20,000
$40,000
$60,000
$80,000
$100,000
$120,000
$140,000
$160,000
Re
v
e
n
u
e
s
Sales Tax 3 Year Trend
2013-14
2014-15
2015-16
Page 12 of 18
City of Georgetown, Texas
Georgetown Economic Development Corporation
August 15, 2016
SUBJECT:
Presentatio n, d is c us s io n and p o s s ib le ac tion regarding an o verview o f projec t types eligible fo r GEDCO
fund ing.
ITEM SUMMARY:
The Develo pment Corporatio n Act of 1979 gives c ities the ability to finance new and expand ed bus iness
enterp ris es in their loc al c o mmunities thro ugh no n-profit ec o nomic development corporatio ns. Prior to
1987, thes e c orporatio ns were d ep endent on funding fro m private s o urc es . T hen in No vember o f 1987,
Texas vo ters approved an amend ment to the Texas Cons titutio n allo wing the legis lature to create programs
and the make lo ans and grants o f pub lic money fo r the p ublic purp o s es of develo p ment and divers ification
o f the economy of the s tate. Purs uant to this c ons titutio nal amendment, the Texas Legis lature has enacted
s everal laws that allow s tate and lo cal government funds to b e us ed to promo te econo mic d evelopment
inc luding the 1989 amend ment to add Sec tio n 4A. S ectio n 4A allo ws fo r the c reation of a develo p ment
corporatio n that c an b e funded b y the impos is tion of a loc al sales and use tax d ed icated to ec o nomic
d evelopment.
At an elec tion held in May o f 2005, Georgeto wn c itizens vo ted to ap p ro ve the ad o p tion of a sales and use
tax for the pro mo tion and develo p ment of new and expand ed bus iness enterpris es . GEDCO was
es tablished to c ons id er reques ts and ad minis ter the s ales and use tax funds.
Michaela Dollar, Direc tor o f Econo mic Development, will provid e an overview o f the typ es of p ro jects that
are eligib le for GEDC O funding.
FINANCIAL IMPACT:
N/A
SUBMITTED BY:
Tina Dunb ar o n b ehalf o f Mic haela Dollar, Direc to r of Ec o nomic Development
Page 13 of 18
City of Georgetown, Texas
Georgetown Economic Development Corporation
August 15, 2016
SUBJECT:
Disc ussion and p o s s ib le ac tion regard ing the S taff Report —David Morgan, City Manager
-P erformance Agreement Report
-Retail Stud y and R ecruitment Plan
-Other Pro jec ts
ITEM SUMMARY:
The GEDCO Board has req uested that staff p ro vide a projec t p ro gress and s tatus report at eac h meeting
o n all of the ac tive p ro jects disc ussed b y the Bo ard .
FINANCIAL IMPACT:
N/A
SUBMITTED BY:
David S. Morgan, C ity Manager
Page 14 of 18
City of Georgetown, Texas
Georgetown Economic Development Corporation
August 15, 2016
SUBJECT:
Ac tion out of Exec utive S es s io n.
ITEM SUMMARY:
FINANCIAL IMPACT:
None
SUBMITTED BY:
Skye Mas s o n, Interim City Attorney
Page 15 of 18
City of Georgetown, Texas
Georgetown Economic Development Corporation
August 15, 2016
SUBJECT:
Sec. 551.071: CONSULTATION WITH ATTORNEY
Cons ultation with atto rney regard ing legal iss ues related to agend a items and o ther matters in which (1)
when the go vernmental b o d y s eeks the advic e of its atto rney about: (A) p end ing or contemplated litigation;
o r (B) a settlement offer; or (2) o n a matter in whic h the duty of the attorney to the governmental b o d y
und er the Texas Dis c ip linary Rules o f Pro fes s ional C o nduct of the State Bar of Texas c learly conflicts with
this c hapter.
ITEM SUMMARY:
FINANCIAL IMPACT:
N/A
SUBMITTED BY:
Charlie Mc Nab b , City Atto rney
Page 16 of 18
City of Georgetown, Texas
Georgetown Economic Development Corporation
August 15, 2016
SUBJECT:
Section 551.072. DELIBERATIONREGARDING REAL PROPERTY
Disc ussion and p o s s ib le ac tion to deliberate the purchas e,exchange, leas e o r value o f real p ro p erty for
p urposes autho rized by the Develo p ment Corporatio n Act whic h d is cus s ion in open session wo uld have
ad etrimental effec t o n nego tiatio ns with third p ers o ns .
ITEM SUMMARY:
FINANCIAL IMPACT:
n/a
SUBMITTED BY:
Charlie Mc Nab b , City Atto rney
Page 17 of 18
City of Georgetown, Texas
Georgetown Economic Development Corporation
August 15, 2016
SUBJECT:
Section 551.087. DELIBERATION REGARDING ECONOMIC DEVELOPMENT
NEGOTIATIONS.
Deliberatio n regard ing c o mmercial o r financ ial informatio n that the c o rp o ratio n has received from a
b usines s pros p ec t that the Geo rgeto wn Economic Development Corporation s eeks to have lo cate, s tay, o r
expand in or near the territo ry o f the City o f Geo rgeto wn and with whic h the Corporatio n is c o nducting
econo mic d evelo p ment negotiations ; and/o r d elib eration regard ing the o ffer o f a financial o r other inc entive
to a bus iness pros pec t that the Co rp o ration s eeks to have loc ate, stay, o r expand in or near the territory of
the City of Georgetown.
- Pro ject Ho p
- Project Badge
ITEM SUMMARY:
FINANCIAL IMPACT:
N/A
SUBMITTED BY:
Charlie Mc Nab b , City Atto rney
Page 18 of 18