Economic Development Corporation

FINAL - MINUTES OF THE NEW BRAUNFELS ECONOMIC DEVELOPMENT CORPORATION REGULAR MEETING OF THURSDAY, JANUARY 18, 2024 AGENDA 1. CALL TO ORDER President Kathy Meurin called the meeting to order at 5:02PM. 2. ROLL CALL Present: Kathy Meurin, Kristen Carden, Larry Hammonds, Shane Hines, Jason Hurta, and Tera Thompson Absent: Don Austin Also in attendance: Mayor Neal Linnartz 3. APPROVAL OF MINUTES A) Approval of the December 14, 2023 special-called meeting minutes President Meurin introduced this item. Director Hurta motioned to approve, Director Thompson seconded the motion, and the minutes were approved unanimously. 4. CITIZENS' 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 on the January 2024 Treasurer’s Report President Meurin introduced this item. Jared Werner, Assistant City Manager, presented on this matter. Mr. Werner identified a 10% decrease in sales tax collections from October 2023 to November 2023. Last fiscal year, the City received over $1M in error from a company that was sourcing its sales tax incorrectly. The City worked with the Comptroller's Office to correct this error and made the required adjustments. A sales tax sourcing error of $600,000 was repeated by the same company in October 2023; Thursday, January 18, 2024 New Braunfels Economic Development Corporation Regular Meeting  the Comptroller's Office was notified again and made the required adjustment, which is reflected in the 10% collection decrease. With audit adjustments, comparing November 2022 to November 2023, sales tax collections are up 6.4%. 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 the New Braunfels Youth Collaborative Project President Meurin introduced this item. Mandi Scott, Economic and Community Development Manager, provided a brief summary of this item and introduced the presenter, Stacey Dicke. Stacey Dicke, Executive Director of the New Braunfels Youth Collaborative ("NBYC"), presented a PowerPoint introducing the New Braunfels Youth Collaborative. Ms. Dicke shared the organization's mission, existing board members, challenges, opportunities, and results of recent student surveys regarding their after school needs/wants. The NBYC has four pillars: academic success, wellness, enrichment, and healthy lifestyles - all will be addressed at the Mill Street Youth Center. Ms. Dicke also shared the NBYC's partnerships, schematic designs planned for the youth center, room designs, plans for parking, and a timeline of steps to open the center in 2025. NBYC's committed donors, costs for the project, and the connections to the City's strategic goals were also provided. Rusty Brockman, NBYC Vice Chair, provided comments in support of the Mill Street Youth Center. Ms. Dicke answered questions from the Board. B) Public hearing, discussion, and possible action approving an expenditure of up to $2,000,000 to the City of New Braunfels for construction of Alligator Creek Trail West, a project authorized under 505.152 of the Texas Local Government Code. Thursday, January 18, 2024 New Braunfels Economic Development Corporation Regular Meeting  President Meurin introduced this item. Scott McClelland, Assistant Director of Transportation and Capital Improvements, presented a PowerPoint addressing this item. Mr. McClelland provided an overview of the project. At the December 14, 2023 special-called meeting, a lower estimated cost for the construction of this trail was initially presented, and the current estimate has slightly increased after submitting 90% design review comments. The anticipated start for construction is April 2024 with a construction duration of 9 months. Mr. McClelland answered questions from the Board. President Meurin opened the public hearing at 5:40 PM. Mr. Jonathan Alorda, a New Braunfels resident, spoke in support of the trail project. President Meurin closed the public hearing at 5:42 PM. Director Hines motioned to approve the project expenditure, of up to $2,000,000, for the construction of Alligator Creek Trail West. Director Carden seconded the motion which was unanimously approved. 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 Care Package 2. Project Camp Unicorn 3. Project Bronco 4. Project Gather Deliberate and consider the purchase, exchange, lease, or value of real property, in accordance with Section 551.072 of the Texas Government Code: 1. Parkland Acquisition 2. NBU Headquarters President Meurin introduced this item. Thursday, January 18, 2024 New Braunfels Economic Development Corporation Regular Meeting  The Board entered into Executive Session at 5:48 PM. Projects 1 through 3 were discussed first, Item 1 Parkland Acquisition and 2 NBU Headquarters were addressed next, then Item 4 Project Gather was addressed. No action was taken. The Board returned to open session at 6:41 PM. 8. ADJOURNMENT President Meurin adjourned the meeting at 6:41 PM. By: ______________________________ KATHY MEURIN, PRESIDENT Thursday, January 18, 2024 New Braunfels Economic Development Corporation Regular Meeting