20200625 Minutes SEDC Board Reg Mtgt I :t i�
MINUTES
THURSDAY, JUNE 25, 2020
Call to order
1. Roll call and recognition of visitors.
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Board of Directors virtual:
Jesse Hamilton — Board Vice President
Mark Browne — City Manager
James Walters — Director of Finance
2. Oath of office for reappointed SEDC Board Members: Paul Macaluso, Jesse Hamilton,
Sammi Morrill, and Jesse Carrasco. Members were reappointed by City Council on 6/2/2020
for a term of two years ending on 5/31/2022. (P. Horan)
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President Macaluso opened this item for discussion and asked for nominations. No new
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Board officers elected:
Board President — Paul Macaluso
Board Treasurer — Jesse Carrasco
Board Secretary — Sammi Morrill
F4earing of residents
4. Public comment - This time is set aside for any person who wishes to address the Board.
Presentations should be limited to no more than 3 minutes. Thepresiding officer will call on
those persons who have signed up to speak.
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Minutes
5. Approval of the minutes for the Board of Directors Regular Monthly Meeting held on
Thursday, May 28, 2020. (P. Horan)
A mouon to approve in I m-mmm's,
• Thursday, May 28, 2020 was made by Mr. Carrasco. Second`d by Mr. Snowden. Motion
passed unanimously.
Presentations
• SEDC monthly financial statements: May 2020. (J. Walters)
Mr. Walters reported that sales taxes grew by 20.1% in May from the year prior. After
corrections for state adjustments, estimated true sales tax growth for the month is 6%. This
growth is led by strong retail and home improvement sales for the month. At this point,
Schertz is seeing no overall slowdown due to COVID-19. Cash investments in bank and
investments $23,173,303.51.
Mr. Perez provided a recap of the 2019 SWOT Analysis and an overview of a new series of
conversations and engagements with the Board to discuss the next year's annual strategic
objectives and a five years arch. Mr. Perez also presented a budget review for the proposed
SEDC Budget FY 2020-2021. Highlights of the presentations included:
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1.) Secure New Investment: Increase and diversify the development of speculative ani
primary job projects with a focus on maximizing new investment through
marketing, recruitment, and BRE strategies.
2.) Pressing our advantage: Plan, prioritize, and leverage investment in physical and
human infrastructure as a competitive advantage.
P7 Tral 73
City
♦ Schertz to plan and support the development of high-end mixed-use
development that expresses local identity and acts as a place for the community to
convene.
Due to COVID-19's impact to FY 2019-2020 operations, and subsequent budget
amendments, direct comparisons of current year end spending projections and FY
2020-2021 budget requests do not match up directly.
Items for inddual consideration
8. Briefing and possible action on approval ♦ the SEDC Resolution No. 2020-4 authorizi
the adoption of the City of Schertz, Texas Investment Policy and Strategy as approved
City Council on January 28, 2020. (J. Walters/A. Perez) I
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A RESOLUTION BY THE CITY OF SCHERTZ ECONOMIC
DEVELOPMENT CORPORATION, TEXAS ADOPTING AN
INVESTMENT POLICY; AND OTHER MATTERS IN CONNECTION
THEREWITH
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of Schertz, Texas Investment Policy and Strategy as approved by City Council on January
28, 2020 was made by Ms. Morrill. Seconded by Mr. Richard. Motion passed unanimously.
17 NUTZ—V
* Project E-059 e Project E-061 0 Project E-062
Reconvene to regular session
9.a Take any actions based on discussion held in closed session under Agenda Item No. 91
Requests and announcements
10. Requests by Board Members to place items on a future SEDC Board Meeting agendl
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0 Next Board Meeting – July 23, 2020
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Paul Macaluso
�Sa-mmi Morrill
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