02-22-2024 Agenda SEDC Board Reg Meeting with packet
NOTICE OF MEETING
AGENDA
FEBRUARY 22, 2024
6:00 P.M.
The City of Schertz Economic Development Corporation (SEDC) Board of Directors will hold a regular monthly meeting on Thursday, FEBRUARY 22,
2024. at 6:00 p.m. at the Hal Baldwin Municipal Complex, Council Chambers Conference Room, Building No. 4, 1400 Schertz Parkway, Schertz, Texas. This
is an open meeting, subject to the open meeting laws of the State of Texas.
In accordance with provisions of the Texas Open Meetings Act, Chapter 551, Texas Government Code notice is hererby given that a Possible Quorum of the
governing body of the City of Schertz, Texas may take place at this meeting.
Call to Order
1.Roll call, recognition of visitors, and review of meeting instructions for effective Board
interaction and public participation.
Hearing of Residents
2.This time is set aside for any person who wishes to address the Board. Presentations should
be limited to no more than 3 minutes.The presiding officer will call on those persons who
have signed up to speak.
Minutes
3.Approval of the minutes for the Board of Directors Regular Monthly Meeting held
Thursday, January 25, 2024. (T.Miller)
Presentations
4.Staff briefing on SEDC monthly financial statement for the month of January 2024.
(S.Wayman)
Discussion Items
5.Briefing and discussion on City of Schertz Comprehensive Plan. (S.Haas)
6.Briefing and discussion on proposed Main Street Design. (B.James)
Workshop
7.Staff and Board discussion restructuring SEDC Goals and Mission Statement.
(H.Malish/A.Ritchey)
Closed Session
8.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) the deliberate the offer of a financial
or other incentive to a business prospect.
SEDC Agenda February 22, 2024 Page 1 of 2
Project E-86
Reconvene to Regular Session
9.Take any actions based on discussion held in closed session under Agenda Item No. 8.
Requests and Announcements
Announcements by staff:
SEDC Lunch & Learn at Schertz Civic Center - March 6, 2024
Next Regular Board Meeting - March 28, 2024
Requests by Board Members to place items on a future SEDC Board Meeting agenda.
Adjournment
CERTIFICATION
I, Tracy Miller, Administrative Assistant, of the City of Schertz Economic Development Corporation, do hereby certify that
the above agenda was posted on the official bulletin boards on this the 16th day of February, 2024, at 5:00 p.m., which is a
place readily accessible to the public at all times and that said notice was posted in accordance with chapter 551, Texas
Government Code.
Tracy Miller
Administrative Assistant- Economic
Development
I certify that the attached notice and agenda of items to be considered by the Schertz Economic Development
Corporation Board of Directors was removed from the official bulletin board on _____day of _______________, 2024.
Name/Title:______________________________
This facility is accessible in accordance with the Americans with Disabilities Act. Handicapped parking spaces are available.
If you require special assistance or have a request for sign interpretative services or other services, please call 210-619-1070.
The Economic Development Corporation Board of Directors reserves the right to adjourn into closed session at any
time during the course of this meeting to discuss any of the matters listed above, as authorized by the Texas Open
Meetings Act.
Closed Sessions Authorized: This agenda has been reviewed and approved by the City’s legal counsel and the presence
of any subject in any Closed Session portion of the agenda constitutes a written interpretation of Texas Government
Code Chapter 551 by legal counsel for the governmental body and constitutes an opinion by the attorney that the items
discussed therein may be legally discussed in the closed portion of the meeting considering available opinions of a
court of record and opinions of the Texas Attorney General known to the attorney. This provision has been added to
this agenda with the intent to meet all elements necessary to satisfy Texas Government Code Chapter 551.144(c) and
the meeting is conducted by all participants in reliance on this opinion.
SEDC Agenda February 22, 2024 Page 2 of 2
Agenda No. 3.
SEDC MEMORANDUM
SEDC
Board Meeting:02/22/2024
Department:Economic Development Corporation
Subject:Approval of the minutes for the Board of Directors Regular Monthly
Meeting held Thursday, January 25, 2024. (T.Miller)
SUBJECT:
Approval of the minutes for the Board of Directors Regular Monthly Meeting held Thursday, January
25, 2024. (T.Miller)
Attachments
01-25-2024
MINUTES
Thursday, January 25, 2024
The City of Schertz Economic Development Corporation (SEDC) Board of Directors met for a Regular Monthly
Meeting on Thursday, January 25, 2024. at 6:00 p.m. at the Hal Baldwin Municipal Complex, Council Chambers
Conference Room, Building No. 4, 1400 Schertz Parkway, Schertz, Texas. This was an open meeting, subject to
the open meeting laws of the State of Texas.
In accordance with provisions of the Texas Open Meetings Act, Chapter 551, Texas Government Code notice is
hereby given that a Possible Quorum of the governing body of the City of Schertz, Texas may take place at this
meeting.
Call to Order
1.Roll call, recognition of visitors, and review of meeting instructions for effective Board interaction and
public participation.
Board President Sammi Morrill presided over the meeting and called it to order at 6:01 p.m.
Board of Directors Present:Staff Present:
Sammi Morrill, Board President Scott Wayman, Executive Director
Bill Dixon, Board Vice President Holly Malish, Deputy Director
Henry Hayes, Board Secretary Ashley Ritchey, Business Engagement Manager
Donna Steward, Board Treasurer Tracy Miller, Administrative Assistant
Mark Moody, Board Member
Eryn McElroy, Board Member
Reynaldo Chavez, Board Member
Others Present:
Tim Brown, Councilmember, City Council EDC Liaison
Robert Marks Jr., Citizen
Hearing of Residents
2.This time is set aside for any person who wishes to address the Board. Presentations should be limited to
no more than 3 minutes.The presiding officer will call on those persons who have signed up to speak.
No residents signed up to speak. No comments were made.
Minutes
3.Approval of the minutes for the Board of Directors Regular Monthly Meeting held Thursday, December
14, 2023 (T.Miller)
Board President Sammi Morrill asked for a motion to approve the Minutes of the Board of Directors
Regular Monthly Meeting held on Thursday, December 14, 2023.
Motion by Board Secretary Henry Hayes, seconded by Board Vice President Bill Dixon.
AYE: Board President Sammi Morrill, Board Vice President Bill Dixon, Board Secretary Henry
Hayes, Board Treasurer Donna Steward, Board Member Mark Moody, Board Member
Eryn McElroy, Board Member Reynaldo Chavez.
Unanimous affirmative vote - Motion carries.
Presentations
4.Staff briefing on SEDC monthly financial statement for the month of November and December 2023.
(S.Wayman)
Scott Wayman, Executive Director, provided a summary and overview of the SEDC Financial Statement
for the month of November and December 2023.
November 2023 sales tax received was $594,656.28, expenses were $149,137.61, a 0.2% decrease over
the year prior. The 12-month rolling average is 7.5% still trending up. Notable expenditures included
payments to Texas Department of Transportation for their I-35 NEX Project and Omni Dallas for the
Texas Municipal League Conference. Total Cash & Investments figure at the end of November was $33
million.
December 2023 sales tax received was $535,988.72, expenses were $3,744.35, a 3.9% increase over the
year prior. The 12-month rolling average is 6.0% still trending up. Notable expenditures included
payments to Dilly Deli for a Regional Job Fair and CCIM Sponsorship. Total Cash & Investments figure
at the end of December was $33.7 million.
James Walters, Finance Director, will present the SEDC monthly financial statement and discuss some
investments at the March 28, 2024 Regular Board Meeting.
5.Staff briefing reviewing SEDC Reserve Funding and Structure. (H.Malish)
Holly Malish, Deputy Director, gave an overview of the SEDC Reserve Funding and discussed the
current balance, current projects and working projects that are in negotiation.
6.Staff briefing on SEDC Goals and Mission Statement. (H.Malish/A.Ritchey)
Holly Malish, Deputy Director, provided an overview of how 4B sales tax funds can be spent and what's
allowable for fund use. She also discussed the Pillars of Economic Development including Business
Retention & Engagement, Business Attraction, Workforce Development, Quality of Life,
Marketing/Brand Management, Real Estate and Operations Management.
Ashley Ritchey, Business Engagement Manager, provided an overview of some Schertz attributes,
disadvantages, concerns and opportunities. Ms. Ritchey also discussed the current mission statement.
Staff asked the Board to provide feedback by emailing staff five words/phrases/ideas on the mission
statement by February 9th on the following:
What we do
For whom we do it
How we do it
Why we do it
Staff asked the Board to prioritize what goals to focus on this year and email staff by February 9th:
Business Attraction
Business Retention & Engagement
Workforce Development
Marketing/Brand Management
Quality of Life
Real Estate
Entrepreneurship
Operations Management
After discussion, the Board decided the top three goals to concentrate on are:
Business Attraction and Retention1.
Infrastructure2.
Quality of Life3.
Board President Sammi Morrill recessed Open Session to Closed Session at 7:17 p.m.
Closed Session
7.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) the deliberate the offer of a financial or
other incentive to a business prospect.
Project E-88
Start time: 7:18 p.m.
End time: 7:42 p.m.
Board President Sammi Morrill reconvened to Open Session at 7:43 p.m.
Reconvene to Regular Session
8.Take any actions based on discussion held in Closed Session under Agenda Item No. 7
No action was taken based on discussion in Closed Session.
Requests and Announcements
Announcements by staff:
Offices closed February 19, 2024 - President's Day
Next Regular Board Meeting - February 22, 2024
Requests by Board Members to place items on a future SEDC Board Meeting agenda.
Adjournment
Board President Sammi Morrill adjourned the meeting at 7:47 p.m.
MINUTES PASSED AND APPROVED THIS ___ DAY ___________ 2024.
____________________
Sammi Morrill
Board President
___________________
Henry Hayes
Board Secretary
Agenda No. 4.
SEDC MEMORANDUM
SEDC
Board Meeting:02/22/2024
Department:Economic Development Corporation
Subject:Staff briefing on SEDC monthly financial statement for the month of
January 2024. (S.Wayman)
SUBJECT:
Staff briefing on SEDC monthly financial statement for the month of January 2024. (S.Wayman)
Attachments
January Financials
620-SED CORPORATION
FINANCIAL SUMMARY OVERVIEW
Revenues
Sales Tax 494,034.45$ Payment Received in January
3.3% Annual Increase
6.0%12-Month Rolling Average
Expenses
SALESFORCE 3,896.40$
GROUP C MEDIA 3,000.00$
Hootsuite, Inc 1,188.00$
DENTON, NAVARRO 1,113.00$
Oak Valley Vineyard 1,063.95$
Year-to-Date
Total Revenue 3,057,759.34$
Total Expenses 457,505.45$
Over/Under 2,600,253.89$
Cash & Investments
Cash 231,958.99$
Investments 34,149,713.21$
Total 34,381,672.20$
*sales taxes are delayed 2 months from received to earned. Sales Taxes recognized in report are estimates and are adjusted to actual when payments are received.
C I T Y O F S C H E R T Z
*************************************************** 2 0 2 3 - 2 0 2 4 ***************************************************
REVENUE AND EXPENSE REPORT (UNAUDITED)
AS OF: January 31st, 2024
1 of 7
620-SED CORPORATION CURRENT CURRENT PRIOR YEAR CURRENT Y-T-D BUDGET % OF
FINANCIAL SUMMARY BUDGET PERIOD Y-T-D ACTUAL Y-T-D ACTUAL ENCUMBR BALANCE BUDGET
REVENUE SUMMARY
Taxes 7,092,000 537,164.40 2,111,464.80 2,248,172.23 - 4,843,827.77 31.70%
Fund Transfers - - - 190,392 - (190,392) 0.00%
Miscellaneous 1,315,000 184,726.00 326,089.56 619,195.45 - 695,804.55 47.09%
TOTAL REVENUES 8,407,000 721,890.40 2,437,554.36 3,057,759.34 - 5,349,240.66 36.37%
EXPENDITURE SUMMARY
NONDEPARTMENTAL
City Assistance 3,027,510 - 50,000.00 - - 3,027,510.00 0.00%
Fund Charges/Transfer 8,650,000 - - - - 8,650,000.00 0.00%
TOTAL NONDEPARTMENTAL 11,677,510 - 50,000 - - 11,677,510.00 0.00%
ECONOMIC DEVELOPMENT
Supplies 1,000 112.15 252.06 207.11 - 792.89 20.71%
City Support Services 21,200 30.93 5,357.67 4,170.88 - 17,029.12 19.67%
Utility Services 975 53.01 49.00 53.01 - 921.99 5.44%
Operations Support 441,610 11,219.03 48,895.92 173,043.08 13,953.36 254,613.56 42.34%
Staff Support 24,575 2,664.55 6,667.75 5,210.87 675.23 18,688.90 23.95%
City Assistance 205,000 - 3,050.00 35.00 4.00 204,961.00 0.02%
Professional Services 61,300 1,113.00 3,646.50 1,344.00 - 59,956.00 2.19%
Fund Charges/Transfers 546,883 - 271,110.50 273,441.50 - 273,441.50 50.00%
Operating Equipment 5,000 - 278.12 - - 5,000.00 0.00%
TOTAL ECONO DEVELOPMENT 1,307,543 15,192.67 339,307.52 457,505.45 14,632.59 835,404.96 36.11%
TOTAL EXPENDITURES 12,985,053 15,192.67 389,307.52 457,505.45 14,632.59 12,512,914.96 3.64%
** REVENUE OVER(UNDER) EXPEND (4,578,053) 706,697.73 2,048,247 2,600,254 (14,632.59) (7,163,674.30)
C I T Y O F S C H E R T Z
*************************************************** 2 0 2 3 - 2 0 2 4 ***************************************************
REVENUE AND EXPENSE REPORT (UNAUDITED)
AS OF: January 31st, 2024
2 of 7
620-SED CORPORATION CURRENT CURRENT PRIOR YEAR CURRENT Y-T-D BUDGET % OF
REVENUES BUDGET PERIOD Y-T-D ACTUAL Y-T-D ACTUAL ENCUMBR BALANCE BUDGET
Taxes
000-411500 Sales Tax Revenue (4B)7,092,000 537,164.40 2,111,464.80 2,248,172.23 - 4,843,827.77 31.70%
TOTAL Taxes 7,092,000 537,164.40 2,111,464.80 2,248,172.23 - 4,843,827.77 31.70%
Fund Transfers
000-486000 Transfer In - - - 190,391.66 - (190,391.66) 0.00%
TOTAL Fund Transfers - - - 190,391.66 - (190,391.66) 0.00%
Miscellaneous
000-491000 Interest Earned 15,000 1,496.17 4,762.64 5,319.77 - 9,680.23 35.47%
000-491200 Investment Earnings 1,300,000 183,229.83 321,326.92 613,875.68 - 686,124.32 47.22%
TOTAL Miscellaneous 1,315,000 184,726.00 326,089.56 619,195.45 - 695,804.55 47.09%
TOTAL REVENUES 8,407,000 721,890.40 2,437,554.36 3,057,759.34 - 5,349,240.66 36.37%
C I T Y O F S C H E R T Z
REVENUE REPORT (UNAUDITED)
*************************************************** 2 0 2 3 - 2 0 2 4 ***************************************************
AS OF: January 31st, 2024
3 of 7
Cash in Bank
Claim on Operating Cash Pool-Checking 231,958.99$
Cash in Investments
Texas Class Investment-Economic Development Corp 31,850,761.79
Schertz Bank & Trust-Certificate of Deposit 1 Year 1,135,273.80
Schertz Bank & Trust-Certificate of Deposit 6 Month 1,163,677.62
Total Cash in Bank & Investments 34,381,672.20$
CASH IN BANK AND INVESTMENTS
AS OF: January 31st, 2024
SED CORPORATION
4 of 7
16.3%-0.2%
3.9%
3.3%
-
100,000
200,000
300,000
400,000
500,000
600,000
700,000
800,000
OCT NOV DEC JAN FEB MAR APR MAY JUN JUL AUG SEP
4B SALES TAX
By Collection Month
2023-24 2022-23 2021-22 2020-21
5 of 7
-5.0%
0.0%
5.0%
10.0%
15.0%
20.0%
25.0%
1 3 5 7 9 11 13 15 17 19 21 23 25 27 29 31 33 35 37 39 41 43 45 47 49 51 53 55 57 59 61 63 65 67 69 71 73 75 77 79 81 83 85 87 89 91 93 95 97 99
10
1
10
3
10
5
10
7
12 Month Rolling Average
Oct 2014 -Present
Rolling 12 Month Average Long Term Average
6 of 7
FUND VENDOR NAME DESCRIPTION AMOUNT
Economic Development SED CORPORATIONTEDC Winter Conf Reg Fee 425.00
Future Leaders Semi 65.00
Active Membership Renewal 550.00
UBEO Monthly Copier Charge 276.55
Monthly Copier Charge 276.55
SALESFORCE Sales Cloud-Pro 2,696.40
Web Service API 1,200.00
WEX BANK Vehicle Fuel 39.01
AMAZON CAPITAL SERVICES 2024 Wall Calendars 54.80
Holiday Supplies 23.90
Promo Items 30.93
HOLLY MALISH Per Diem/Mileage-Phoenix 154.66
TRACY MILLER Per Diem-Denton, Texas 106.50
INTERNATIONAL ECONOMIC DEV. COUNCIL NP 250k-749k Membership 660.00
DENTON, NAVARRO Legal Services Nov 2023 84.00
Legal Services Nov/Dec 2023 1,029.00
GROUP C MEDIA Cover Story 3,000.00
CITIBANK AwardSmart 108.50
Oak Valley Vineyard 1,063.95
TX Capitol Parking Meter 4.00
Labels/Door Stopper 33.45
Formassembly 198.00
Mailchimp 38.25
Hootsuite, Inc 1,188.00
Adobe Stock - December 29.99
IEDC Leadership Summit 840.00
Canva - Annual Fee 119.99
Southwest Airlines 188.80
Northeast Partnership 20.00
TMCA 125.00
Schlotzsky's 152.80
SA State of the Market 115.00
TCMA 280.00
Car Wash 14.00
CITY OF SCHERTZ Postage 0.64
SUBTOTAL:15,192.67
TOTAL:$15,192.67
January 2024 PAYABLES REPORT
7 of 7