Loading...
04-08-2010 Minutes 1~ ECONOMIC DEVELOPMENT Minutes of the CITY OF SCHERTZ ECONOMIC DEVELOPMENT CORPORATION BOARD OF DIRECTOR'S MEETING Apri18, 2010 CITY STAFF ECONOMIC DEVELOPMENT George Anhzna, Executive Director CORPORATION Juan Santoya, Finance Director Steve White, President Jeff Jewell, Assistant Econonuc Development Harry Whitney, Vice President Director Angelina Kiser, Ph.D. Erin Matlock, Economic Development Tim Brown Specialist Roy Richard, Esq. Michael Spain, City Attorney David Harris, Assistant City Manager Don Taylor, City Manager Mark McLiney, Southwest Secuz•rtres Bryan Ciuirrirrghant, Southwest Securities Debbie Fraser, Armstrong, Vaughn & Associates, P.C. THOSE ABSENT Others Present James Harden Robert Brockman, Citizen Matthew Duke, Esq. 1. Call to order. President Wlrite called the meeting to order at 6:33 pm. 2. Public comment. Mr. Brockman inquired about the funding of Resolution No. 10-R-17 at the previous Council meeting. Mr. Anhzna stated drat the firnds mentioned will come out of the LIED Fund (Cornrnunity Infi•astr•uctur•e and Economic Development) acrd not the Economic Development Corporation. ITEMS FOR INDIVIDUAL CONSIDERATION: 3. EXECUTIVE SESSION Page t of 4 Scheri~ EDC ivrioutes 0=1.DS.10 ECONOMIC DEVELOPMENT Called under Section 551.074 of the Texas Local Govezrzznent Code to deliberate the appointment, employment, evaluation, reassignment, deities, discipline, az• dismissal of the Executive Director (Tolloiving the discussion on this executive session iterra, the City afScher•tz ~conorrtic Development Corporation array decide to vote or take crctio;i7 037 this rrratter in public). Mr. White reconvened the regulaz• session at 7:10 p.m. No action taken 4. Appzaval of meeting minutes dated March 1 l , 2010 and March 23, 2010 Mz•. Whitney moved to approve the minutes of March 11,2010 and March 23, 2010 meeting of the Econonuc Development Corporation with one correction to the mizailtes of the March 23, 2010 meeting were noted that the spelling of the City's Attorney Warne had been misspelled. Mr. Richard seconded the motion, Motion carried. Vote uz~animons 5. Update from City Finance Director on Monthly Financial Reports (J. Santoya) Mr. Santoya presented tl~e financial statement for the month of Febz~zary 2010, stating sales taxes were down 10% percent fiom same time last year. 6. Presentation and discussion regarding financing options far infz•astz-~zchzre constz~iction related to the Sysco project Mr. Antuna introduced the City's financial advisoz• Mz•. Mark McLiney fz•azn Southwest Securities. Mz•. McLiney reviewed options with the board in how to best pay for the infi•asta~zch~re promised to Sysco. Mr. Richard stated that he would like to see a financial analysis of debt ratio before making judgznezzt. Mr. Spain stated that a reimbursement z•esolution would be prepared before the next meeting to Fasten time. 7. Presentation and discussion of the SEDC's 2008-2009 Annual Financial Report by the City's aelditors (D. Fraser) Ms. Fraser briefed the Econon;ic Development Corporation on the financial statements prepared by Armstrong, Vaughan & Associates, P.C, lie her final report two recommendations ~vere made: 1.) back up faz• American Express bill and a separate purchasing policy for the Economic Development Corporation. r1g~ a ors Sciiertz EDC A•lii~ules a~.as. ~ o ECONOMIC DEVELOPMENT 8. Discussion and action approving or disapproving a budget transfer for the $150,000 loan related to the Medical Office Building on Schertz Parkway (J. Santoya} Mr. Jewell briefed the board that a formal action by the board to approve a transfer was reconunended by the City's auditor. Mr. Whitney moved to approve a budget transfer for tl~e $ 150,000 loan related to the Medical Office Building on Schertz Parkway. This item was voted approval at a previous meeting. Mr. Richard seconded the motion. Motion carried. Vote unanimous 9. Discussion and Action approving or disapproving a services agreement with Stainback Public Private Real Estate and Tlie City of Schertz Economic Development Corporation for the 1~M 78 and Main Street projects (J. Jewell} Mr. Jewell presented the progress made an the Main St. & FM 78 projects and detailed the next scope of work with SPRRE. Mr. Brown moved to approve a se>~ices agreement with Stainback Public Private Real Estate and the City of Schertz Economic Development Corporation for the FM 78 and Main Street projects. Mr, Richard seconded the motion. Motion carried. Vate i~naniinaus 0. Director's Repast a. Sysco Update Mr. Antuna infoi7~ied the board that Cotnal County approved an eight year tax abatement for S3°/© percent on March 2S, 2010 for the Sysco project. 1VIr. Antuna also noted that Sysco closed on the property off of Schwab Rd, on March 30, 2014 with plans to open for business on October 31, 2011. 11. Requests by Board members that items are placed on a fiiture SEDC agenda None 12. Requests by Board members to Director and Staff for infoi7natiori lblr. Richard requested a debt service analysis for the next meeting. 13. Adjourn The meeting vas adjourned at 8:09 p.m. Pape 3 of 4 Schertz EDC A4inutes 0=s•.08.1 Q ECONOMIC DEVELOPMENT k Steve White, President r~~~ . Harly Write ,Vice President 4 ~ Matthew Duke, Secretary ` N~ge 4 of 4 Schertz EDC Nii~mlcs 04.08.10