Economic Development Corporation

FINAL - MINUTES OF THE NEW BRAUNFELS ECONOMIC DEVELOPMENT CORPORATION REGULAR MEETING OF THURSDAY, DECEMBER 14, 2023 Special-Called AGENDA 1. CALL TO ORDER President Kathy Meurin called the meeting to order at 5:00 PM. 2. ROLL CALL Present: Kathy Meurin, Kristen Carden, Larry Hammonds, Shane Hines, Don Austin, Jason Hurta, and Tera Thompson President Meurin welcomed two new NBEDC Board Members Mr. Jason Hurta and Ms. Tera Thompson. 3. APPROVAL OF MINUTES A) Approval of the November 14, 2023 workshop meeting minutes President Meurin introduced this item. Vice President Carden motioned to approve, Director Hurta seconded the motion, and the minutes were approved unanimously. B) Approval of the November 14, 2023 special-called meeting minutes President Meurin introduced this item. Vice President Carden motioned to approve, Director Hurta seconded the motion, and the minutes were 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 December 2023 Treasurer’s Report President Meurin introduced this item. Thursday, December 14, 2023 New Braunfels Economic Development Corporation Regular Meeting  Jared Werner, Assistant City Manager, presented on this matter. Mr. Werner identified a 18.4% growth for the sales tax collections compared to October 2022. With audit adjustments, the net increase was 20.3%. He shared that additional financing discussions would occur at the upcoming January NBEDC quarterly workshop. Additional graphs were provided showing projected revenues, current commitment projections, the projected capacity for additional expenditures, and the proposed ending fund balance to FY25. Mr. Werner answered questions from the Board. 6. DISCUSSION AND ACTION A) Presentation and discussion on a proposed project expenditure for the construction of the Alligator Creek Trail project President Meurin introduced this item. Scott McClelland, Assistant Director of Transportation and Capital Improvement, provided a brief PowerPoint on the project. The Alligator Creek Trail is a 1.1 mile, 10-foot wide, concrete trail planned off Goodwin Lane with future connections to the north and south along Alligator Creek. The trail will have rest areas, seating, wayfinding signs, and pet waste stations. The estimated construction cost is $1,942,271 with a construction duration of 9 months; the anticipated start of the construction is Spring 2024. Mr. McClelland indicated the next step is to approve the funding for construction. A public hearing, discussion, and possible action will take place at the NBEDC meeting in January. Mr. McClelland answered questions from the Board. B) Discuss and consider the election of 2024 officers to the New Braunfels Economic Development Corporation Board President Meurin introduced this item. Director Austin motioned to nominate Kathy Meurin as President, Kristen Carden as Vice President, Don Austin as Treasurer, and Shane Hines as Secretary for 2024. Director Hines seconded the motion which was approved unanimously. 7. EXECUTIVE SESSION Thursday, December 14, 2023 New Braunfels Economic Development Corporation Regular Meeting 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 Icon 2. Project Care Package 3. Project Camp Unicorn 4. Project Bronco 5. Project Tiny Unicorns President Meurin introduced this item. The Board entered Executive Session at 5:22 PM. Item 1 Project Icon was not discussed. Items 2 through 5 were discussed in order of their appearance on the agenda. No action was taken. The Board returned to open session at 5:54 PM. 8. ADJOURNMENT President Meurin adjourned the meeting at 5:54 PM. By: ______________________________ KATHY MEURIN, PRESIDENT Thursday, December 14, 2023 New Braunfels Economic Development Corporation Regular Meeting