5-1-2018 Minutes SEDC Board Special Called Mtg.SCIHI]EIRZ FZ
ECONOMIC DEVELOPMENT CORPORATION
MINUTES
TUESDAY, MAY 1, 2018
The City of Schertz Economic Development Corporation (SEDC) Board of Directors met for a
Special Called Meeting on Tuesday, May 1, 2018 at 5:00 p.m. in the City Council Municipal Complex,
Building No. 1, Bob Andrews Conference Room, 1400 Schertz Parkway, Schertz, Texas.
CALL TO ORDER
1. Roll call and recognition of visitors.
President Brown called the meeting to order at 5:02 p.m. and welcomed everyone in attendance.
Board of Directors:
Tim Brown — President
Paul Macaluso Treasurer/ Secretary
Katie Chain
Mark Tew
Directors absent:
Gary Howell — Vice President
Roy Richard
Victoria Readnour
2. Public comment.
No public comment occurred.
Staff:
Kyle Ki_nateder — SEDC Executive Director
Drew Vincent — ED Analyst
Dan Santee — SEDC Attorney
Brian James — Acting City Manager
Others present:
Kevin R.
Emiliano G.
PRESENTATIONS
3. SEDC monthly financial statements: March 2018. a. Walters)
Mr. Kinateder made reference to the information provide in the Board packet. Mr. Kinateder
asked if there were any questions, none were asked.
4. SEDC benchmarking and reserves update. (K. Kinateder)
Mr. Kinateder made reference to the information provide in the Board packet. He provided
some background on the report. The 2017 EDC Benchmarking Comparison shows how the
SEDC compares to other EDCs in our area. He added that this report should be referenced as
the Board develops their upcoming budget.
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5. SEDC 20th anniversary celebration update. (P. Horan)
Mr. Kinateder made reference to the information provided in the Board packet. He told the
Board that staff was unable to compile enough verifiable information on the SEDC's 20th year
history. After consideration, staff has decided to cancel the event. Staff will promote the
SEDC's 20th year celebration through blogs posts, the SEDC's website and the annual report.
All funds will be reallocated to the SEDC reserves.
During the discussion, the Board asked if the SEDC or City had a promotional video, staff
responded that we didn't. The Board asked that staff consider a promotional video in the
upcoming budget.
6. 1st Quarter 2018 economic and project update. P. Vincent)
Mr. Kinateder made reference to the 1" Quarter 2018 economic and project update which was
provided in the Board packet. This was the second time this report has been developed and as
such it is still being refined to ensure that it has that information which will be of most value
to the SEDC Board. Mr. Kinateder asked if there were any questions, none were asked.
ITEMS FOR INDIVIDUAL CONSIDERATION
7. Consider /Discuss /Act on approval of the minutes for the Board of Directors Regular Monthly
Meeting held on Thursday, March 22, 2018. (P. Horan)
A motion to approve the minutes for the Board of Directors Regular Monthly Meeting held
on Thursday, March 22, 2018 was made by Mr. Macaluso. Seconded by Mr. Tew. Motion
passed unanimously.
8. REQUESTS AND ANNOUNCEMENTS
Requests by Board Members to place items on a future SEDC Board Meeting agenda.
There were no requests made.
9. Information available in SEDC Board Packets — NO DISCUSSION TO OCCUR
• CCAB meeting notes for 3/21/2018 and 4/18/2018
• National economic development week proclamation 5/1/2018
10. CLOSED SESSION
Called in accordance with Section 551.087 of the Texas Government Code, Deliberation
Regarding Economic Development Negotiations; Closed Meeting. The governmental body is
not required to conduct an open meeting (1) to discuss or deliberate regarding commercial or
financial information that the governmental body has received from a business prospect that the
governmental body seeks to have locate, stay, or expand in or near the territory of the
governmental body and with which the governmental body is conducting economic
development negotiations; or (2) to deliberate the offer of a financial or other incentive to a
business prospect.
• Project E -038
• Project E -039
• Project E -040
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Start time: 5:11 P.M.
End time: 5:49 P.M.
RECONVENE TO REGULAR SESSION
President Brown reconvened the meeting back into regular session at 5:49 p.m.
11. Discussion and possible action to authorize the SEDC Executive Director to take the necessary
and appropriate actions to proceed with negotiations based on discussions held in Closed
Session under Agenda Item No. 10:
• Project E -038 — Schertz 312, LLC — Discussion, public hearing, and possible action
relating to an expenditure of SEDC funds for infrastructure improvements.
Mr. Kinateder distributed a copy of the Economic Development Incentive Agreement
with Schertz 312, LLC to all present.
President of the Board opened the meeting for public hearing:
Time start: 5:53 p.m.
There were no public comments.
Time end: 5:53 p.m.
A motion to approve the Economic Development Incentive Agreement with Schertz
312, LLC as presented inclusive of the changes for Schertz 312's Buyout Right of three -
quarter buyout being 10% and the one -half buyout being 20% and recommend that the
City Council authorize the payment of an economic development incentive agreement
among the SEDC and Schertz 312, LLC as outlined in the Agreement was made by Mr.
P. Macaluso. Seconded by Ms. Chain. Motion passed unanimously.
• Project E -039 — WR1, LLC — Discussion, public hearing, and possible action relating to
an expenditure of SEDC funds for infrastructure improvements.
Mr. Kinateder distributed a copy of the Economic Development Incentive Agreement
with WR1, LLC to all present.
President of the Board opened the meeting for public comment:
Time start: 5:57 p.m.
There were no public comments.
Time end: 7:57 p.m.
A motion to approve the Economic Development Incentive Agreement as written was
made by Mr. Tew. Seconded by Ms. Chain. Motion passed unanimously.
• Project E -040
No action was taken.
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ADJOURNMENT
President Brown adjourned the meeting at 5:58 p.m.
MINUTES PASSED AND APPROVED THIS THI
Tim B 10w 11/- President
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