Economic Development Corporation

FINAL - MINUTES OF THE NEW BRAUNFELS ECONOMIC DEVELOPMENT CORPORATION REGULAR MEETING OF WEDNESDAY, SEPTEMBER 20, 2023 SPECIAL-CALLED AGENDA 1. CALL TO ORDER President Kathy Meurin called the meeting to order at 5:00 PM. 2. ROLL CALL Present: Brian Cox, Stuart Hansmann, Kathy Meurin, Larry Hammonds, Kristen Carden, Shane Hines, and Don Austin (5:14 PM) Absent: None 3. APPROVAL OF MINUTES A) Approval of the August 17, 2023 regular meeting minutes President Meurin introduced this item. Director Carden motioned to approve the August 17, 2023 regular meeting minutes. Director Cox seconded the motion which was approved unanimously. 4. CITIZEN'S COMMUNICATIONS This time is for citizens to address the Board on issues and items of concerns not on this agenda. There will be no Board action at this time. None. 5. TREASURER'S REPORT A) Presentation and discussion of the September 2023 Treasurer’s Report President Meurin introduced this item. Jared Werner, Assistant City Manager, presented a Powerpoint addressing the September 2023 Treasurer's Report. Mr. Werner identified a 6% increase in sales tax collections for the month of July, and after adjustments, July 2022 to July 2023 comparisons showed an increase by 8.7%. Industries such as general services, food, Wednesday, September 20, 2023 New Braunfels Economic Development Corporation Regular Meeti  wholesale, and manufacturing experienced double-digit sales tax growth for the month of July. Mr. Werner shared additional graphs and data to show projected fund revenues, current commitment projections, the anticipated capacity for additional expenditures, and projections for the ending fund balance through FY 2025. 6. DISCUSSION AND ACTION A) Presentation and discussion of a proposed project expenditure to the SPARK Small Business Center to assist with the operation of an economic development program. President Meurin introduced this item. Jeff Jewell, Economic and Community Development Director, provided a brief introduction and summary for this item. Ron Richardson, Business Advisor at SPARK Business Center, provided a Powerpoint updating the Board on business starts/expansions, client highlights, continued community outreach and networking, upcoming classes and programs, and upcoming and completed training events. Mr. Richardson shared photos of SPARK's new signage, updates on several social media platforms, and a refreshed new website through a new website host. Dani Hensley, President of the SPARK Board, discussed the FY 2024 budget and funding request to include an increase of $15,000 to cover the higher cost of utilities and increased payments to UTSA. Mr. Richardson and Ms. Hensley answered questions from the Board. B) Public hearing, discussion, and possible action approving an expenditure of up to $600,000 to the City of New Braunfels National Airport for a Texas Department of Transportation project match for the reconstruction of the Airport’s North Ramp, a project authorized under 505.1561 of the Texas Local Government Code. President Meurin introduced this item. Jeff Jewell, Economic and Community Development Director, presented this item. Mr. Jewell reminded the Board about the north ramp reconstruction project at the New Braunfels National Airport (BAZ) as it was initially presented at the August 17th meeting. This project expenditure would address BAZ's largest aircraft parking area Wednesday, September 20, 2023 New Braunfels Economic Development Corporation Regular Meeti  and primary overflow apron by removing and replacing all existing pavement, which is deteriorating. The pavement replacement will improve operational safety and continue to facilitate BAZ's growth. TxDOT has recognized this project as a key priority and will cover 90% of the costs with a required 10% match for a total projected budget of $8M. BAZ will contribute $200,000 to the project, and the additional $600,000 is being requested from the NBEDC. Mr. Jewell shared Powerpoint slides with photos of the pavement condition, an aerial diagram of the planned project, and answered questions from the Board. President Meurin opened the public hearing at 5:29 PM. No comments were made. President Meurin closed the public hearing at 5:29 PM. Director Cox motioned to approve the expenditure of up to $600,000 to the City of New Braunfels National Airport for a TxDOT project match for the north ramp reconstruction. Director Austin seconded the motion which was approved unanimously. 7. EXECUTIVE SESSION In accordance with the Texas Government Code, Section 551.071, the Board reserves the right to retire into executive session concerning the items listed on this agenda to consult with its attorney. In addition, the Board may convene in executive session on any of the following items, with any final action being taken in open session: A) Deliberate issues regarding economic development negotiations in accordance with Section 551.087 of the Texas Government Code: 1. Project Camp Unicorn 2. Project Maverick 3. Project Lark 4. Project Care Package 5. Project Lion Deliberate the pending/contemplated litigation, settlement offer(s), and matters concerning privileged and unprivileged client information deemed confidential by Rule 1.05 of the Texas Disciplinary Rules of Professional Conduct in accordance with Section 551.071 of the Texas Government Code: 1. Frantic Holdings President Meurin introduced this item. Wednesday, September 20, 2023 New Braunfels Economic Development Corporation Regular Meeti  The Board retired to Executive Session at 5:31 PM. The Board entered Executive Session at 5:33 PM. Project Camp Unicorn, Project Lark, Project Lion, and Frantic Holdings were not discussed. No action was taken. The Board returned to open session at 5:45 PM 8. ADJOURNMENT President Meurin adjourned the meeting at 5:51 PM. By: ______________________________ KATHY MEURIN, PRESIDENT Wednesday, September 20, 2023 New Braunfels Economic Development Corporation Regular Meeti