20210304 Minutes SEDC Board Reg Mtga i'� Roo 9 WWOU
MINUTES
THURSDAY, MARCH 4, 2021
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The City of Schertz; Economic Development Corporation (SEDC) Board of Directors met for
Regular Monthly Meeting on Thursday,- March 4,2021. at 6:00 p.m. in the Hal BaldwinA44unic p
Complex, Council Chambers, Building No. 4, 1400 Schertz Parkway, Schertz, Texas. This is
open meeting, subject to the open meeting laws of the State of Texas.
Call to order
1. Roll call and recognition • visitors-
Roy Richard
Bryan Snowden
Colin Sherman— Marketing & Recruitment Mgr.
Virtual:
James Walters — Director • Finance
Hearing of residents
2. Public comment - Yhis time is set aside for any person who wishes to address the Board.
Presentations should be limited to no more than 3 minutes. Thepresiding offlcer will call on those
persons who have signed up to speak.
Minutes
3. Approval of the minutes for the Board of Director's Regular Monthly Meeting held on
Thursday, January 28, 2021. (P. Horan)
A motion to approve the minutes for the Board • Directors Regular Monthly Meeting held on
Thursday, January 28, 2021 was made • Mr. Richard. Seconded by Ms. Morrill. Motion passed
unanimously.
Presentations
4. Staff briefing on SEDC Financial statement for January 202 1. (J. Walters/A. Perez)
SEDC Minutes 3/4/2021 Page 1 of 4
Mr. Walters reported that the sales taxes for the City continue to grow over last year with the
January payment showing a 16.8% increase. Sales in the City's retail division are still strong and
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Investments total $21,3 67,412.42.
5. Staff briefing of the Q I FY 2020-2021 SEDC Operations and Market Report. (A. Perez/C.
Sherman)
6. Staff briefing on Economic Development Incentive Policy and Reserve Fund planning update for
FY 2021-2022. (A. Perez)
Mr. Perez sustained that with the SEDC Board feedback and on-going coordination with City
Management, the SEDC staff recommends the following allocations for FY 2021-2022: Maintain a
$10,000,000 SEDC Incentive Fund available for allocation to projects; structure a Workforce
Develo d o 0 aba b
it i l@ent Incentive Fun frm the existin entive 116 that makes tax tements availale
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SEDC Minutes 3/4/2021 Page 2 of 4
-znd upsizing of wastewater facties from 12 to an 18" line.
Staff will work with City Management to develop final funding proposal for briefirig and approval
by SEDC Board for finalization in October for FY 2021-2022.
7. Briefing and possible action on approval of the SEDC Resolution No. 2021-2 authorizing the
adoption of the City of Schertz, Texas Investment Policy and Strategy as approved by City Council
on January 26, 2021. (J. Walters/A. Perez)
Mr. Perez provided an overview of the City of Schertz Investment Policy and Broker List which
requires an annual reaffirmation by City Council. City Council reviewed and approved the
Investment Policy during their meeting held on January 26, 202 1. The SEDC will continue to follow
the Citki's Policki so lon- as the SEDC Executive Director is named as an Investment Officer-mAthin
the policy. No notable changes from previous year.
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CORPORATION, TEXAS ADOPTING AN INVESTMENT
POLICY, 1 ENT BROKERS, AND OTHER MATTERS IN
CONNECTION THEREWITH
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SEDC Minutes 3/4/2021 Page 3 of 4
Reconvene to regular session
9. Take any actions based on discussion held in closed session under Agenda Item No. 8.
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also announced that he will not be renewing « :y! /?2 4» to serve on the Board for another term
due to moving to Philadelphia, PA. «e- °l end his current term as of May 31, 202 1.
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9 Next Board Meeting - March 25, 2021
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Sarntni Morrill
Faul M--a-c-aluso
Board President Bo ard Secretary
SEDC Minutes 3/62021 %a4¥4