HomeMy WebLinkAboutAgenda_GEDCO_09.19.2016Notice of Meeting for the
Georgetown Economic Dev elopment Corporation and the Gov erning Body
of the City of Georgetown
September 19, 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
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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, Augus t 15, 2016--Kevin Kelly, Sec retary
B Co nsideration of the Augus t, 2016 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
-Retail Stud y and Rec ruitment Plan
-Rep o rt from Planning
-Other Pro jec ts
D Dis cus s ion and pos s ible actio n regarding GEDC O board training - Charlie McNab b , City Atto rney and
Mic haela Do llar, Directo r of Ec o nomic Develo p ment
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. DELIBERATION REGARDING 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 .
Page 1 of 17
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
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 17
City of Georgetown, Texas
Georgetown Economic Development Corporation
September 19, 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 Mond ay, August 15, 2016--Kevin Kelly, S ecretary
ITEM SUMMARY:
ATTACHMENTS:
Draft Minutes
FINANCIAL IMPACT:
None
SUBMITTED BY:
Tina Dunb ar fo r Kevin Kelly, Corporate Secretary
ATTACHMENTS:
Description Type
Augus t Minutes Cover Memo
Page 3 of 17
GEDCO Minutes
August 15, 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
August 15, 2016
The Georgetown Economic Development Corporation of the City of Georgetown, Texas, met on
Monday, August 15, 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; Michaela Dollar, Director of Economic Development; Conchita
Gusman, Economic Development Program Manager; Leah Wallace, Finance
Director/Finance Manager; Debbie Mitchell, Senior Accountant; Paul Diaz,
Budget Manager; Tina Dunbar, Administrative Assistant;
MINUTES
Call to Order at 4:00 pm
Legislative Regular Session
A. Consideration and approval of the minutes for Georgetown Economic Development Corporation
for the Regular Meeting held Friday, June 17, 2016--Kevin Kelly, Secretary
Motion by Parker, second by Kelly to approve the June 17, 2016 minutes. (Approved 6-0)
B. Consideration of the June 30, 2016 and July 31, 2016 Financial Reports. Leigh Wallace, Finance
Manager, GEDCO, Finance Director, COG
Wallace presented the reports and answered questions from the Board.
C. Presentation, discussion and possible action regarding an overview of project types eligible for
GEDCO funding.
Dollar presented the report and answered questions from the Board.
D. Discussion and possible action regarding the Staff Report —David Morgan, City Manager
-Performance Agreement Report
-Retail Study and Recruitment Plan
-Other Projects
Gusman presented the new Performance Agreement Report and explained the new format.
Page 4 of 17
GEDCO Minutes
August 15, 2016
Page 2 of 2
Reed provided an update on the retail study and Reed and Morgan answered questions from
the Board.
The GEDCO Board went into Executive Session at 4:50 pm and returned to Open Session at 5:15 pm.
E Action out of Executive Session.
No action out of Executive Session.
Adjourn at 5:24 pm
ATTEST:
______________________________ ___________________________________
Kevin Kelly, Corporate Secretary Hugh Brown, President
Page 5 of 17
City of Georgetown, Texas
Georgetown Economic Development Corporation
September 19, 2016
SUBJECT:
Cons id eration o f the August, 2016 Financial R ep 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
Financial Report Cover Memo
Page 6 of 17
GEDCO Board Meeting Date: September 19, 2016 Item No. __________
GEORGETOWN ECONOMIC DEVELOPMENT CORPORATION
AGENDA ITEM COVER SHEET
_________________________________________________________________
SUBJECT:
Consideration of the August 31, 2016 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. Included in this report is the sales tax revenue
collected in July for sales in May. There were no payments made to vendors in the month
of August.
ATTACHMENTS:
Monthly Financial Reports
Sales Tax History
SUBMITTED BY:
Leigh Wallace
Finance Manager, GEDCO
Finance Director, COG
Page 7 of 17
YEAR-END YEAR-END
APPROVED AUG-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 1,345,313 137,911 1,083,484 1,406,750 61,437 4.6%
Interest 7,500 0 20,702 20,702 13,202 176.0%
Miscellaneous Revenue 0 0 59,958 59,958 59,958 NA
Lease Revenue (Grape Creek)48,000 4,000 44,000 48,000 0 NA
Total Operating Revenues 1,400,813 141,911 1,208,144 1,535,410 134,597 9.6%
OPERATING EXPENDITURES
Debt Service 106,694 0 106,695 106,695 (1)(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 56 (56)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 20,054 58,406 58,406 22,594 27.9%
Miscellaneous Expense 2,500 0 11,429 11,429 (8,929)(357.2%)
Total Operating Expenditures 498,194 20,054 332,153 332,153 166,041 33.3%
TOTAL NET OPERATIONS 902,619 121,857 875,991 1,203,257 (31,444)(3.5%)
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 NA
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 NA
Tasus 67,500 0 0 0 67,500 100.0%
Texas Life Sciences 100,000 0 100,000 100,000 0 NA
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)121,857 3,874,738 (384,645)4,649,506 (92.4%)
ENDING BALANCE 336,328 4,994,255 4,657,927 1,384.9%
RESERVED ENDING BALANCE 336,328 351,688
Georgetown Economic Development Corporation Fund
Year End Projection to Approved as of August 2016
Page 8 of 17
As of August 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 92,765 102,435 108,994 119,534 10,540$ 9.67%
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$ 1,196,884$
YTD 810,450 860,562 947,887 1,061,025 1,083,465 1,196,884 110.47%
Notes:
[a]Sales tax revenue from the State Comptroller is received two months in arrears.
Sales tax for July is actually received in September
$-
$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 17
City of Georgetown, Texas
Georgetown Economic Development Corporation
September 19, 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
-Report from P lanning
-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
project report Cover Memo
Page 10 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 $ 70,000
Georgetown Indpendent School District
Grant for the purchase of qualified
expenditures related to the equipment for
the Engineering Program and Laboratories
at Georgetown and East View High
Schools. 9/25/2012 12/31/2016 200,560 184,911$
Georgetown Winery
Grant for Qualified Expenditures described
as equipment for wine production and an
agreement to maintain and operate the
existing winery in Georgetown. 8/23/2011 6/30/2016 70,000 70,000$
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. (Note: Fourth Amended Performance
Agreement, Lease Agreement, and Promissory Note
was approved by GEDCO on August 20, 2012 and by
the City Council on August 28, 2012. TIRZ Agreement
for $60,000 approved by City Council on 9-11-12.) 8/23/2011 3/1/2018 280,000 280,000$
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$
GEDCO PERFORMANCE AGREEMENTS STATUS REPORT
August 15, 2016
Page 11 of 17
Name Description
Start Date
(Council Approved)End Date $ Encumbered $ Expended
GEDCO PERFORMANCE AGREEMENTS STATUS REPORT
August 15, 2016
Radix BioSolutions, Ltd.
Provided grant to assist with the work and
future plans of Radix BioSolutions at the
TLCC. Agreement approved by GEDCO on
February 9, 2010 and Council approved the
Agreement at its March 9, 2010 Meeting.
Radix paid back $47K on 3/15/15. Radix
paid back $50K 3/10/16.3/9/2010 3/31/2018 250,000 $ 97,000
TASUS Texas Corporation
Provide a grant of $67,500 for job creation
related to expansion of manufacturing
facilities. Approved by the City Council on
February 25, 2014 and approved by the
GEDCO Board on February 17, 2014 2/25/2014 5/31/2017 67,500 -$
Texas Life Sciences
Collaboration Center (4)
Provide a grant of $100,000 for the
maintenance of the TLCC. Performance
Agreement approved by GEDCO on
12/21/15. New one-year agreement.1/12/2016 10/31/2016 100,000 $ 100,000
The Rivery at Summit Conference Center
Provide a grant not to exceed $4.5 Million
for Public Infrastructure Improvements.
Approved by the GEDCO Board on
November 18, 2013. Approved by the City
Council on December 10, 2013. 12/10/2013 6/30/2016 4,500,000 $ -
Page 12 of 17
City of Georgetown, Texas
Georgetown Economic Development Corporation
September 19, 2016
SUBJECT:
Disc ussion and p o s s ib le ac tion regard ing GEDCO b o ard training - Charlie Mc Nabb, City Attorney and
Michaela Dollar, Direc tor o f Econo mic Development
ITEM SUMMARY:
The City o f G eo rgeto wn is uniq ue in the large numb er of ad visory boards and c o mmis s io ns it has in
comparison with o ther c ities. Geo rgeto wn has 23 regular b o ard s and c o mmis s ions c o mp o s ed of volunteer
memb ers app o inted by City Co uncil. These vo lunteers are a tremend o us as s et to the City, therefo re, s taff
takes the res pons ib ility of p ro viding p ro p er training and info rmation to board and c o mmis s io n memb ers
very serious ly. To p ro vide o ngo ing training, Charlie McNabb, City Attorney, will present a refresher on
ethics for Georgetown boards and commissions. Michaela Dollar, Director of Economic Development, will
discuss ethics in relation to GEDCO.
FINANCIAL IMPACT:
none
SUBMITTED BY:
Charlie Mc Nab b , City Atto rney, and Mic haela Do llar, Directo r of Ec o nomic Develo p ment
Page 13 of 17
City of Georgetown, Texas
Georgetown Economic Development Corporation
September 19, 2016
SUBJECT:
Ac tion out of Exec utive S es s io n.
ITEM SUMMARY:
FINANCIAL IMPACT:
None
SUBMITTED BY:
Charlie Mc Nab b , City Atto rney
Page 14 of 17
City of Georgetown, Texas
Georgetown Economic Development Corporation
September 19, 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 15 of 17
City of Georgetown, Texas
Georgetown Economic Development Corporation
September 19, 2016
SUBJECT:
Section 551.072. DELIBERATION REGARDING 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 19, 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
ITEM SUMMARY:
FINANCIAL IMPACT:
N/A
SUBMITTED BY:
Charlie Mc Nab b , City Atto rney
Page 17 of 17