HomeMy WebLinkAboutAgenda_GEDCO_09.18.2017Notice of Meeting for the
Georgetown Economic Dev elopment Corporation and the Gov erning Body
of the City of Georgetown
September 18, 2017 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 Mo nday, August 21, 2017--Bill Mateja, Sec retary
B Co nsideration of the Augus t, 2017 financ ial reports . Leigh Wallace, 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
-Rep o rt from Planning
-Activity Report
-Other Pro jec ts
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.
Page 1 of 17
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.
- Typ e A Projec ts
- Projec t S q uare Dance
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 __________________, 2017, 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 17
City of Georgetown, Texas
Georgetown Economic Development Corporation
September 18, 2017
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 Mond ay, Augus t 21, 2017--Bill Mateja, S ecretary
ITEM SUMMARY:
ATTACHMENTS:
1. Draft Minutes
FINANCIAL IMPACT:
None
SUBMITTED BY:
Bill Mateja, C o rp o rate Sec retary
ATTACHMENTS:
Description Type
minutes Cover Memo
Page 3 of 17
GEDCO Minutes
June 19, 2017
Page 1 of 2
Minutes of the Meeting of the
Georgetown Economic Development Corporation
and the Governing Body of the
City of Georgetown, Texas
August 21, 2017
The Georgetown Economic Development Corporation of the City of Georgetown, Texas, met on
Monday, August 21, 2017.
Members
Present:
Jeff Parker, Kevin Kelly, Steve Klein, Valerie Nicholson, Bill Mateja, Hugh Brown
Members
Absent: Steve Fought
Staff
Present:
David Morgan, City Manager/General Manager; Michaela Dollar, Director of Economic
Development; Kim McCauliffe, Downtown Development Manager; Conchita Gusman,
Economic Development Program Manager; Laurie Brewer, Assistant City Manager; Leah
Wallace, Finance Director/Finance Manager; Paul Diaz, Budget Analyst; Tina Dunbar,
Marketing Coordinator
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, June 19, 2017--Bill Mateja, Secretary
Motion by K. Kelly, second by B. Mateja to approve the June 19, 2017 Minutes. (Approved 6-0)
B Discussion and possible action regarding the Target Industry and Workforce Analysis - Michaela Dollar,
Director of Economic Development
M. Dollar presented information on the Avalanche project and introduced Avalanche staff. Tony Delisi
and John Reese of Avalanche then provided a presentation of the analysis and results and answered
questions from the board.
C Consideration of the June and July, 2017 financial reports. Leigh Wallace, Finance Manager, GEDCO,
Finance Director, COG
L. Wallace presented the reports and answered questions from the board.
D Discussion and possible action regarding the Staff Report —David Morgan, City Manager
- Performance Agreement Report
- Report from Planning
- Retail Study Update
- Activity Report
- Other Projects
Page 4 of 17
GEDCO Minutes
June 19, 2017
Page 2 of 2
C. Gusman presented the performance agreement report. Following discussion D. Morgan and C.
Gusman answered questions from the board.
Morgan presented the report from planning and update on other projects. Discussion was held and
staff answered questions from the board.
E Action out of Executive Session.
Motion by H. Brown, second by S. Klein to authorize the City to use up to $300,000.00 of GEDCO funds
for a infrastructure project to improve natural gas capacity in the downtown square area.
Adjourn at 5:35 p.m.
ATTEST:
______________________________ ___________________________________
Bill Mateja, Corporate Secretary Jeff Parker, President
Page 5 of 17
City of Georgetown, Texas
Georgetown Economic Development Corporation
September 18, 2017
SUBJECT:
Cons id eration o f the August, 2017 financ ial rep o rts . Leigh Wallac e, Financ e Manager, GEDCO, Financ e
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
report Cover Memo
Page 6 of 17
GEDCO Board Meeting Date: September 18, 2017 Item No. __________
GEORGETOWN ECONOMIC DEVELOPMENT CORPORATION
AGENDA ITEM COVER SHEET
_________________________________________________________________
SUBJECT:
Consideration of the August 31, 2017 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 June and July for sales in April and May. Payments made to vendors in the
month of August are also included.
ATTACHMENTS:
Monthly Financial Reports
Sales Tax History
SUBMITTED BY:
Leigh Wallace
Finance Manager, GEDCO
Finance Director, COG
Page 7 of 17
APPROVED BUDGET CURRENT PERIOD
YEAR TO DATE
(W/ENCUMB)
YEAR-END
PROJECTION
YEAR-END
VARIANCE
% YEAR-END
VARIANCE
BEGINNING FUND BALALNCE 5,015,684 5,068,518 52,834 1.05%
Revenue
OPERATING REVENUES
Sales Tax 1,468,750 152,647 1,153,698 1,581,250 112,500 7.66%
Interest 10,400 5,408 39,580 34,171 23,771 228.57%
Miscellaneous Revenue 60,321 - 60,302 60,321 - 0.00%
Lease Revenue (Grape Creek)48,000 4,000 48,000 48,000 - 0.00%
OPERATING REVENUES TOTAL 1,587,471 162,056 1,301,581 1,723,742 136,271 8.58%
OPERATING EXPENDITURES
Joint Services Allocation 197,722 16,477 181,247 197,722 - 0.00%
Supplies 300 - 193 300 - 0.00%
Special Services 7,500 - 33 7,500 - 0.00%
Travel & Training 1,500 - - 1,500 - 0.00%
Promotional & Marketing Program 81,000 3,750 70,690 81,000 - 0.00%
Miscellaneous Expense 10,321 - 10,302 10,302 (19) -0.18%
OPERATING EXPENDITURES Total 298,343 20,227 262,465 298,324 (19) -0.01%
TOTAL NET OPERATIONS 1,289,128 141,829 1,039,116 1,425,418 136,290 0.11
NON-OPERATING EXPENDITURES
Avalanche Consulting, Inc 100,000 20,650 120,650 100,000 - 0.00%
Bond Issuance Costs - 119 5 (114) (114) 0.00%
Catalyst 24,000 2,833 17,812 23,000 (1,000) -4.17%
Debt Service 115,839 - - 115,839 - 0.00%
DisperSol 60,000 - 10,000 60,000 - 0.00%
Economic Development Projects -Undetermined 5,200,322 - - - (5,200,322) -100.00%
Interest Expense 111,463 111,463 111,463 111,463 - 0.00%
Principal Reduction 100,000 100,000 100,000 100,000 - 0.00%
Radix 50,000 - - - (50,000) -100.00%
Rentschler Brewing LLC 70,000 - 70,000 70,000 - 0.00%
Tasus 6,000 - - - (6,000) -100.00%
Texas Life Sciences 100,000 - - - (100,000) -100.00%
NON-OPERATING EXPENDITURES Total 5,937,624 235,065 429,930 580,188 (5,357,436) -90.23%
EXCESS (DEFICIENCY) OF TOTAL REVENUE OVER TOTAL
REQUIREMENTS (4,648,496) (93,237) 609,186 845,230 5,493,726 -118.18%
ENDING FUND BALANCE 367,188 5,913,748 5,546,560 1510.55%
Georgetown Economic Development Corporation Fund
Year End Projection to Approved as of August 2017
Page 8 of 17
As of July 31, 2017
Georgetown Economic Development Corporation
Sales Tax History
Variance % Var.
MONTH [a]2011-12 2012-13 2013-14 2014-15 2015-16 2016-17 To FY 16 To FY 16
October 70,264$ 86,324$ 91,863$ 98,094$ 106,050$ 114,748$ 8,698$ 8.20%
November 74,472 82,083 99,552 102,891 112,766 125,214 12,448$ 11.04%
December 111,968 117,582 134,682 143,774 148,200 160,542 12,342$ 8.33%
January 73,177 82,714 89,357 87,695 96,563 110,006 13,443$ 13.92%
February 72,946 77,890 86,901 89,107 108,117 105,556 (2,561)$ -2.37%
March 105,822 115,564 114,355 123,951 133,492 137,301 3,809$ 2.85%
April 81,362 84,420 106,002 102,671 108,977 117,261 8,284$ 7.60%
May 80,919 94,412 112,572 95,699 120,418 125,188 4,770$ 3.96%
June 99,664 114,132 123,306 130,589 142,767 151,484 8,717$ 6.11%
July 89,969 92,765 102,435 108,994 119,534 148,492 28,958$ 24.23%
August 85,792 92,735 98,015 102,888 132,582
September 88,334 125,197 119,473 125,201 135,378
Total 1,034,688$ 1,165,819$ 1,278,513$ 1,311,554$ 1,464,844$ 1,295,792$
YTD 770,592 855,121 958,590 974,471 1,077,350 1,295,792 69,950 6.49%
Notes:
[a]Sales tax revenue from the State Comptroller is received two months in arrears.
Sales tax for December is actually received in February
$-
$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
2014-15
2015-16
2016-17
Page 9 of 17
9/13/2017 8:40 AM A/P HISTORY CHECK REPORT PAGE: 5 VENDOR SET: 03 CITY OF GEORGETOWN
BANK: JPM JP MORGAN CHASE
DATE RANGE: 8/01/2017 THRU 8/31/2017
010970
010970
010970
* * T O T A L S * *
REGULAR CHECKS:
HAND CHECKS:
DRAFTS:
EFT:
NON CHECKS:
VOID CHECKS:
TOTAL ERRORS: 0
NO INVOICE AMOUNT DISCOUNTS CHECK AMOUNT
VENDOR SET: 03 BANK: JPM TOTALS: 5 46,650.00 0.00 46,650.00
BANK: JPM TOTALS: 19 46,650.00 0.00 46,650.00
REPORT TOTALS: 19 46,650.00 0.00 46,650.00
• Economic Development Projects:
- Catalyst Commerical, Inc.
- Avalanche Consulting, Inc.
• Promotional & Marketing Programs
- Austin Chamber Opportunity Austin
M-CHECK
I-GEORGETOWN003
AVALANCHE
AVALANCHE
CONSULTING INC
CONSULTING INCUNPOST
V
8/10/2017
233682
6,550.00CR
AVALANCHE
NA TARGET
CONSULTING INC
IND/WORKFORCE
R
8/04/2017
15,700.00
234424
15,700.00
I-170035CC #1
AVALANCHE
NA TARGET
CONSULTING INC
IND/WORKFORCE
R
8/11/2017
Reissue
234593
6,550.00
NO
4
INVOICE AMOUNT
40,100.00
DISCOUNTS
0.00
CHECK AMOUNT
46,650.00
0 0.00 0.00 0.00
0 0.00 0.00 0.00
0 0.00 0.00 0.00
0 0.00 0.00 0.00
1 VOID DEBITS 6,550.00
VOID CREDITS 6,550.00CR 0.00 0.00
VENDOR I.D.
NAME
STATUS
CHECK
DATE
INVOICE
AMOUNT
DISCOUNT
CHECK
NO
CHECK
STATUS
CHECK
AMOUNT
010970
I-170035CC #1
AVALANCHE
NA TARGET
CONSULTING INC
IND/WORKFORCE
V
7/06/2017
6,550.00
233682
6,550.00
010850
I-330148
XCELIGENT, INC.
WEB PROPERTIES FALL 2017
R
8/11/2017
3,750.00
234594
3,750.00
010970
I-GEORGETOWN004
AVALANCHE CONSULTING INC
NA TARGET IND/WORKFORCE
R
8/25/2017
20,650.00
234945
20,650.00
Page 10 of 17
City of Georgetown, Texas
Georgetown Economic Development Corporation
September 18, 2017
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
-Report from P lanning
-Activity Report
-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
ATTACHMENTS:
Description Type
pa Cover Memo
planning Cover Memo
Page 11 of 17
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
Grape Creek
Grant for reimbursement of Qualified
Expenditures for the lease/purchase and
future site improvements at 101 E. 7th
Street and 614 Main Street for the
operation of a winery on the Downtown
Square. 8/23/2011 3/1/2018 280,000$ 280,000$
Grape Creek
GEDCO purchase of building. GCV
currently under lease/purchase agreement
with right to exercise purchase at end of PA
for $447K.8/23/2011 3/1/2018 447,000$ 447,000$
Lone Star Circle of Care
Grant for Qualified Expenditures for future
site improvements at 205 East University
Avenue, Georgetown, Texas. Loan
Agreement and Promissory Note have
been executed. 6/28/2011 11/30/2017 387,000$ $ 387,000
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$
Radix BioSolutions, Ltd.
Provided grant to assist with the work and
future plans of Radix BioSolutions at the
TLCC. Radix paid back $47K on 3/15/15.
Radix paid back $50K 3/10/16. Radix paid
back $50K on 3/10/2017 .3/9/2010 3/31/2018 250,000$ $ 103,000
GEDCO - ACTIVE PERFORMANCE AGREEMENTS STATUS REPORT
September 18, 2017
Over Page 12 of 17
To: Michaela Dollar, Director of Economic Development
From: Sofia Nelson, Director of Planning
Date: September 14, 2017
Re: Development Briefing- August 2017
Residential Building Permits:
2017
Month Permits
Jan 26
Feb 68
Mar 57
Apr 60
May 102
June 92
July 56
August 56
New Site Plans submitted in August
• 4405 Williams Drive – One story commercial building 10,745 square feet.
• Saddlecreek Amenity Center, Phase 1A, Block V, Lot 2A
• 200 COMMERCE BLVD- Don Hewlett Chevrolet Buick Warehouse Expansion Phase
2
• 1855 Southeast Inner Loop- Williamson County Regional Animal Shelter Expansion
• 904 ROCKMOOR DR- Woodspring Suites 118 Room, 4 Story Woodspring Suites
Hotel on 1 lot, 2.14 acres
• 7401 S IH 35- Mercedes Benz of Georgetown Showroom Expansion
Page 13 of 17
City of Georgetown, Texas
Georgetown Economic Development Corporation
September 18, 2017
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 14 of 17
City of Georgetown, Texas
Georgetown Economic Development Corporation
September 18, 2017
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 15 of 17
City of Georgetown, Texas
Georgetown Economic Development Corporation
September 18, 2017
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 16 of 17
City of Georgetown, Texas
Georgetown Economic Development Corporation
September 18, 2017
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.
- Type A Projec ts
- P ro ject Sq uare Danc e
ITEM SUMMARY:
FINANCIAL IMPACT:
N/A
SUBMITTED BY:
Charlie Mc Nab b , City Atto rney
Page 17 of 17