HomeMy WebLinkAboutAgenda_GEDCO_09.17.2018Notice of Meeting for the
Georgetown Economic Dev elopment Corporation
of the City of Georgetown
September 17, 2018 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
Meeting held Mo nday, July 16, 2018--Steve Bo hnenkamp , Sec retary
B Co nsideration of the Augus t 2018 financ ial rep o rt. Leigh Wallac e, Financ e Manager, GEDCO, Financ e
Directo r, COG
C 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
-Activity Report
-Other Staff Items
D 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.
E 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 - Charlie McNabb, C ity Attorney
F 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 a
detrimental effect on negotiations with third pers ons .
G 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
Page 1 of 37
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.
- Projec t Tiger
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 __________________, 2018, 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 37
City of Georgetown, Texas
Georgetown Economic Development Corporation
September 17, 2018
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
Meeting held Mond ay, July 16, 2018--Steve Bohnenkamp, S ecretary
ITEM SUMMARY:
ATTACHMENTS:
Draft Minutes
FINANCIAL IMPACT:
None
SUBMITTED BY:
Steve Bo hnenkamp, C o rp o rate Sec retary
ATTACHMENTS:
Description Type
minutes Cover Memo
Page 3 of 37
GEDCO Minutes
August 20, 2018
Page 1 of 1
Minutes of the Meeting of the
Georgetown Economic Development Corporation
City of Georgetown, Texas
August 20, 2018
The Georgetown Economic Development Corporation of the City of Georgetown, Texas, met on Monday,
August 20, 2018.
Members
Present:
Members
Absent:
Kevin Kelly, Jeff Parker, Steve Bohnenkamp, Steve Fought, Valerie Nicholson
Tom Menke, Bill Mateja
Staff
Present:
David Morgan, City Manager; Michaela Dollar, Director of Economic Development; Leah
Wallace, Finance Manager; Wayne Reed, Assistant City Manager; Laurie Brewer, Assistant City
Manager; Conchita Gusman, Business Retention and Expansion Program Manager; Paul Diaz,
Budget Manager; Tina Dunbar, Marketing Coordinator; Debbie Mitchell, Senior Accountant
MINUTES
Call to Order at 4:00 pm
A Consideration and approval of the minutes for Georgetown Economic Development Corporation for the
Regular Meeting held Monday, July 16, 2018—Steve Bohnenkamp, Secretary
Motion by Parker, second by Nicholson to approve the June 18, 2018 minutes. (Approved 5-0)
B. Consideration of the July 2018 financial reports. Leigh Wallace, Finance Manager, GEDCO, Finance
Director, COG
Wallace presented the financial reports and answered questions from the Board.
C. Discussion and possible action regarding the Staff Report —David Morgan, City Manager
- Performance Agreement Report
- Activity Report
- Other Staff Items
Dollar presented the Performance Agreement Report and the Activity Report and answered questions
from the board. Gusman reported on the recent Veteran’s Job Fair.
D Action out of Executive Session.
No action was taken.
Meeting was adjourned at 4:35 p.m.
Attest:
______________________________ ___________________________________
Steve Bohnenkamp, Corporate Secretary Kevin Kelly, President
Page 4 of 37
City of Georgetown, Texas
Georgetown Economic Development Corporation
September 17, 2018
SUBJECT:
Cons id eration o f the August 2018 financial report. Leigh Wallace, Finance Manager, GEDCO, F inance
Direc tor, 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
Finance report Cover Memo
Page 5 of 37
GEDCO Board Meeting Date: September 17, 2018 Item No. __________
GEORGETOWN ECONOMIC DEVELOPMENT CORPORATION
AGENDA ITEM COVER SHEET
_________________________________________________________________
SUBJECT:
Consideration of the August 31, 2018 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 August is also included.
ATTACHMENTS:
Monthly Financial Reports
Sales Tax History
SUBMITTED BY:
Leigh Wallace
Finance Manager, GEDCO
Finance Director, COG
Page 6 of 37
APPROVED BUDGET CURRENT PERIOD
YEAR TO DATE
(W/ENCUMB)
YEAR-END
PROJECTION
BEGINNING FUND BALANCE 5,902,863 6,051,152
OPERATING REVENUES
Interest 25,400 11,581 91,691 91,700
Lease Revenue (Grape Creek)24,000 - 40,000 40,000
Miscellaneous Revenue 61,100 - 60,991 61,000
Sales Tax 1,643,750 160,287 1,272,000 1,693,750
Sale of Property - -
OPERATING REVENUES Total 1,754,250 171,867 1,464,682 1,886,450
OPERATING EXPENDITURES
Debt Service 212,569 168,904 212,688 212,569
Interest Expense 26,128 - - 26,128
Joint Services Allocation 221,328 18,444 202,884 221,328
Miscellaneous Expense 11,108 - 10,991 11,040
Principal Reduction 90,485 - - 90,485
Promotional & Marketing Program 81,000 - 78,301 81,000
Special Services 57,500 6,375 24,518 57,500
Supplies 300 - - -
Travel & Training 1,500 - - 500
OPERATING EXPENDITURES Total 701,918 193,723 529,382 700,550
TOTAL NET OPERATIONS 1,052,332 (21,856) 935,300 1,185,900
NON-OPERATING EXPENDITURES
Catalyst 36,000 - 18,839 18,839
DisperSol 60,000 - 40,000 40,000
Economic Development Projects -Undetermined 6,308,518 - - 150,000
Texas Life Sciences 139,740 - 139,740 139,740
NON-OPERATING EXPENDITURES Total 6,544,258 - 198,579 348,579
TOTAL NET NON-OPERATIONS (6,544,258) - (198,579) (348,579)
EXCESS (DEFICIENCY) OF TOTAL REVENUE OVER TOTAL
REQUIREMENTS (5,491,926) (21,856) 736,721 837,321
ENDING FUND BALANCE 410,938 6,888,473
RESERVES
Contingency 410,938 423,438
RESERVES Total 410,938 - - 423,438
AVAILABLE FUND BALANCE - 6,465,035
Georgetown Economic Development Corporation Fund
Year-End Projection to Approved: Aug FY2018
Page 7 of 37
As of August 31, 2018
Georgetown Economic Development Corporation
Sales Tax History
Variance % Var.
MONTH [a]2013-14 2014-15 2015-16 2016-17 2017-18 To FY 17 To FY 17
October 91,863$ 98,094$ 106,050$ 114,748$ 124,478$ 9,730$ 8.48%
November 99,552 102,891 112,766 125,214 127,064 1,850$ 1.48%
December 134,682 143,774 148,200 160,542 162,940 2,398$ 1.49%
January 89,357 87,695 96,563 110,006 115,291 5,285$ 4.80%
February 86,901 89,107 108,117 105,556 133,797 28,241$ 26.75%
March 114,355 123,951 133,492 137,301 158,112 20,811$ 15.16%
April 106,002 102,671 108,977 117,261 135,036 17,775$ 15.16%
May 112,572 95,699 120,418 125,188 148,761 23,573$ 18.83%
June 123,306 130,589 142,767 151,484 157,313 5,829$ 3.85%
July 102,435 108,994 119,534 154,889
August 98,015 102,888 132,582 122,847
September 119,473 125,201 135,378 143,897
Total 1,278,513$ 1,311,554$ 1,464,844$ 1,568,933$ 1,262,792$
YTD 958,590 974,471 1,077,350 1,147,300 1,262,792 115,492 10.07%[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
2015-16
2016-17
2017-18
Page 8 of 37
GEORGETOWN ECONOMIC DEVELOPMENT CORPORATION
CHECKS WRITTEN REPORT
FOR THE MONTH OF AUGUST 2018
• Special Services:
- Hines Interest, LP $ 6,375.00
Page 9 of 37
City of Georgetown, Texas
Georgetown Economic Development Corporation
September 17, 2018
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
-Activity Report
-Other Staff Items
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
ATTACHMENTS:
Description Type
report Cover Memo
PA Cover Memo
Page 10 of 37
Economic Development
Activity Report
September 2018
Page 11 of 37
Strategic Goal 1
Support existing businesses
and industries
Page 12 of 37
0
5
10
15
20
25
Se
p
1
7
Oc
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1
7
No
v
1
7
De
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1
7
Ja
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1
8
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1
8
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1
8
Ap
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1
8
Ma
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1
8
Ju
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1
8
Ju
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1
8
Au
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1
8
Business Retention Activity
Visits Assistance Requests Touches
Page 13 of 37
Additional BRE Activity
•Still seeing workforce and facilities as
major themes
•15 of the active projects are existing
businesses (about 25%)
•Manufacturer’s Alliance (Sep. 6)
•Breakfast Bites (Sep. 12)
•Annual Lunch & Bowl Event (Sep. 28)
•Social Media Marketing Workshop (Oct. 1)
Page 14 of 37
Strategic Goal 2
Enhance targeted recruitment
of identified industries
Page 15 of 37
0
2
4
6
8
10
12
14
16
Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep
Leads
FY17 FY18
Page 16 of 37
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
Page 17 of 37
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
Page 18 of 37
0
10
20
30
40
50
60
70
Feb 18 Mar 18 Apr 18 May 18 Jun 18 Jul 18 Aug 18
Active Projects
Development Hot Warm Cold
Page 19 of 37
Additional Recruitment Activity
•Working with available building owners to
identify leads for their space
•New development activity on multiple lots
–spec, retail, and industrial related
•Opportunity Austin Recruitment trips
–Chicago (Aug.)
–Northern California (Sep.)
•NAI Global Show (Sep.)
Page 20 of 37
Strategic Goal 3
Diversify workforce development
and recruitment initiatives
Page 21 of 37
Workforce Development Activity
•Manufacturers Day (Oct. 5)
•Planning first Healthcare Alliance meeting
•Working with companies on way to raise
brand awareness to help with filling vacant
positions
•Working with county and state partners for
apprenticeship program
Page 22 of 37
Strategic Goal 4
Encourage speculative
development
Page 23 of 37
Speculative Development Activity
•Eight of the active projects are
speculative development
•Also focusing on “shovel-ready” sites
Page 24 of 37
Overall Objective
Tell our story to a
broader local audience
Page 25 of 37
Other Activity
•Downtown Property Owners Twelve@12;
next one in October
•Planning Symposium (Oct. 31)
•WilCo EDP rebranding
Page 26 of 37
Economic Indicators
Page 27 of 37
-
200
400
600
800
1,000
1,200
1,400
$-
$50.0
$100.0
$150.0
$200.0
$250.0
$300.0
$350.0
$400.0
$450.0
Au
g
1
7
Se
p
1
7
Oc
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1
7
No
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1
7
De
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1
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Ja
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1
8
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1
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8
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1
8
Ma
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1
8
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1
8
Ju
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8
Au
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1
8
Construction Permit Applications
Valuation
(in millions)
# of Permits
Page 28 of 37
0
2
4
6
8
10
12
14
16
18
Au
g
1
7
Se
p
1
7
Oc
t
1
7
No
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1
7
De
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1
7
Ja
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1
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8
Certificates of Occupancy Issued
Page 29 of 37
$-
$500,000
$1,000,000
$1,500,000
$2,000,000
$2,500,000
$3,000,000
Oc
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No
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Ja
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Sales Tax Collections
FY 2017 FY 2018
Page 30 of 37
0.0%
0.5%
1.0%
1.5%
2.0%
2.5%
3.0%
3.5%
4.0%
4.5%
Ju
l
1
7
Au
g
1
7
Se
p
1
7
Oc
t
1
7
No
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1
7
De
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1
7
Ja
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1
8
Fe
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1
8
Ma
r
1
8
Ap
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1
8
Ma
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1
8
Ju
n
1
8
Ju
l
1
8
Unemployment Rate
Page 31 of 37
$30,000
$35,000
$40,000
$45,000
$50,000
$55,000
Average Annual Wage
Page 32 of 37
Name Description
Start Date (Council
Approved)End Date $ Encumbered $ Expended
Citigroup
Grant for wastewater infrastructure for
construction of datacenter. 12/12/2006 12/31/2018 $ 1,300,000 $ 1,300,000
DisperSol
Grant for job creation related to expansion
of manufacturing facilities.10/16/2014 2/15/2019 250,000$ $ 80,000
Radiation Detection Corporation
Grant for Qualified Expenditures and job
creation related to the relocation of the
corporate offices to Georgetown. 7/23/2013 12/31/2021 320,000$ $ 320,000
KJ Scientific (KJS)
Provide a grant of the equipment obtained in
the TLCC brand acquisition to KJ Scientific
(KJS) to retain the business in
Georgetown.The retention equipment grant
is for five years with KJS obligated to pay a
pro-rated amount of $10,000 per year
should they relocate outside of the City.2/27/2018 12/31/2022 $ 50,000.00 $ 50,000.00
Holt Caterpillar
GEDCO to provide up to $185,000
infrastructure grant for the cost of
connecting to a new wastewater line run to
the property by the City. Approved by
Council on 1/24/17.1/24/2017 185,000.00$
Radiation Detection Corporation 2
Grant for Qualified Expenditures and job
creation related to the expansion of the
existing corporate offices located in
Georgetown. 6/13/2018 6/1/2019 150,000$ $ -
GEDCO - ACTIVE PERFORMANCE AGREEMENTS STATUS REPORT
September 17, 2018
Page 33 of 37
City of Georgetown, Texas
Georgetown Economic Development Corporation
September 17, 2018
SUBJECT:
Ac tion out of Exec utive S es s io n.
ITEM SUMMARY:
FINANCIAL IMPACT:
TBD
SUBMITTED BY:
Charlie Mc Nab b , City Atto rney
Page 34 of 37
City of Georgetown, Texas
Georgetown Economic Development Corporation
September 17, 2018
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 - C harlie McNab b , City Atto rney
ITEM SUMMARY:
FINANCIAL IMPACT:
N/A
SUBMITTED BY:
Charlie Mc Nab b , City Atto rney
Page 35 of 37
City of Georgetown, Texas
Georgetown Economic Development Corporation
September 17, 2018
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 a
d 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 36 of 37
City of Georgetown, Texas
Georgetown Economic Development Corporation
September 17, 2018
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.
- P ro ject Tiger
ITEM SUMMARY:
FINANCIAL IMPACT:
N/A
SUBMITTED BY:
Charlie Mc Nab b , City Atto rney
Page 37 of 37