3-22-2018 Minutes SEDC Board Reg Monthly MeetingSC1H11E1RZ1FZ
ECONOMIC DEVELOPMENT CORPORATION
MINUTES
THURSDAY, MARCH 22, 2018
The City of Schertz Economic Development Corporation (SEDC) Board of Directors met for a
Regular Monthly Meeting on Thursday, March 22, 2018 at 6:00 p.m. in the City Council Chambers,
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 6:00 p.m. and welcomed everyone in attendance.
Board of Directors:
Tim Brown — President
Paul Macaluso Treasurer/ Secretary
Roy Richard
Mark Tew
Victoria Readnour
Directors absent:
Gary Howell — Vice President
Katie Chain
2. Public comment.
Staff:
Kyle Kinateder — SEDC Executive Director
Patty Horan — ED Executive Assistant
Jennifer Kolbe — Business Retention Manager
Drew Vincent — ED Analyst
James Walters — Director of Finance
R.J. Fraire — Financial Analyst
Others present:
Katelyn Hippen — CORE — The Chamber
Denise Garcia — CORE — The Chamber
Susan Rigg — Owner of River Whey Creamery
Ms. Hippen and Ms. Garcia introduced themselves as participants in The Chamber's Leadership
CORE (Community, Organization, Reciprocation, Education) Program. Ms. Rigg introduced
herself as the owner of River Whey Creamery in Schertz. Her company has produced artisanal
cheese since October 2014. Ms. Rigg talked about her company's business model and the
processes involved in cheese manufacturing. She provided samples for everyone in attendance.
The Board thanked Ms. Rigg for visiting and introducing her Schertz business.
PRESENTATIONS
3. SEDC Monthly Financial Statements: February 2018. a. Walters)
Mr. Fraire provided an overview of the SEDC's revenue and expense report (unaudited) as of
February 28. Highlights on the report included sales taxes showing a slight decrease of 0.3%
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from February 2017. The largest expense to the SEDC for the month was the contribution to
the Interest & Sinking Fund (I &S) for the last debt payment on the 2009 Bonds for the
Emergency Services Buildings. Mr. Kinateder was happy to announce that the corporation is
now debt free and has $15,683,874.99 in cash and investments.
4. Annual Economic Development Incentive Certification Report. (K. Kinateder)
Mr. Kinateder made reference to the information provided in the Board packet. He added that
all the companies required to certify their compliance to their respective incentive agreements
have been found to be in compliance (except Amazon.com that has until April 15, 2018 to
report). Mr. Tew asked for clarification on the payout process of incentives due to each company
that has earned them. Mr. Kinateder and Mr. Walters explained that individual payments are
included in the budget process each year.
No action was taken.
5. 1" Quarter 2018 Recruitment Update. (K. Kinateder)
Mr. Kinateder made reference to the information provided in the Board packet. He mentioned
that the recruitment trips are targeted to promote the City of Schertz to specific primary job
creating companies. He also invited the Board to check out the new `blog' tab on the SEDC
website which has been created with the purpose of educating perspective companies about
opportunities in Schertz.
No action was taken.
ITEMS FOR INDIVIDUAL CONSIDERATION
6. Consider /Discuss /Act on approval of the minutes for the Board of Directors Regular Monthly
Meeting held on Thursday, February 22, 2018. (P. Horan)
A motion to approve the minutes for the Board of Directors Regular Monthly Meeting held
on Thursday, February 22, 2018 was made by Mr. Macaluso. Seconded by Ms. Readnour.
Motion passed unanimously.
7. Consider /Discuss /Act on the Freeway Manor Subdivision Property. (K. Kinateder)
Mr. Kinateder provided background, location and updated pictures of the Freeway Manor
Subdivision as it was requested during last month's meeting. The subdivision is 66.9 acres and
consists of 247 lots, of which the City currently owns 51 lots. After discussion relating to
potential Projects that the SEDC is authorized to fund, the SEDC Board decided that it would
be more appropriate for the City to focus on this redevelopment effort. The Board didn't find
any strategic advantage to own real estate property in that subdivision, asked that the SEDC
continue focusing on its mission of attracting /retaining primary jobs and infrastructure
improvements.
A motion to discontinue the purchasing of real estate property at Freeway Manor Subdivision
was made by Mr. Richard. Seconded by Ms. Readnour. Motion passed unanimously.
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8. REQUESTS AND ANNOUNCEMENTS
Requests by Board Members to place items on a future SEDC Board Meeting agenda.
No requests were made.
9. Information available in SEDC Board Packets — NO DISCUSSION TO OCCUR
• Planning software approval update
• CCAB meeting notes for 2/22/2018
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
Start time: 6:44 p.m.
End time: 8:07 p.m.
RECONVENE TO REGULAR SESSION
President Brown reconvened the meeting back into regular session at 8:07 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
• Project E -039
• Project E -040
No action was taken.
ADJOURNMENT
President Brown adjourned the meeting at 8:08 p.m.
MINUTES PASSED AND APPROVED THIS 1 DAY C
im tc(wni ®President
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Paul Macaluso —Treasurer/,Secretary
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