Economic Development Corporation

FINAL - MINUTES OF THE NEW BRAUNFELS ECONOMIC DEVELOPMENT CORPORATION REGULAR MEETING OF THURSDAY, JULY 18, 2024 AGENDA 1. CALL TO ORDER President Kathy Meurin called the meeting to order at 5:03PM. 2. ROLL CALL Present: Kristen Carden, Shane Hines, Tera Thompson, Kathy Meurin, Don Austin, and Larry Hammonds (5:04PM) Absent: Jason Hurta Also in Attendance: Mayor Neal Linnartz 3. APPROVAL OF MINUTES A) Approval of the June 17, 2024 special-called meeting minutes President Meurin introduced this item. Director Hines motioned to approve, Director Carden seconded the motion and the June 17, 2024 special-called meeting minutes were unanimously approved. B) Approval of the June 20, 2024 regular meeting minutes President Meurin introduced this item. Director Hines motioned to approve, Director Carden seconded the motion and the June 20, 2024 regular meeting minutes were unanimously approved. 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 July 2024 Treasurer’s Report President Meurin introduced this item. Jeff Jewell, Director of Economic and Community Development, presented on this matter. Mr. Jewell identified a 1.1% decrease in sales tax collections for May 2024; with adjustments removed, current to current collections decreased by 2.8%. The decline in collections for May can be attributed to a large Thursday, July 18, 2024 New Braunfels Economic Development Corporation Regular Meeting  pre-payment by a large sales tax contributor in April. Through the first eight months of the fiscal year, collections are up 5.5% and remain above the FY24 budget projection. Mr. Jewell shared additional graphs indicating projected revenues, current commitment projections, infrastructure investments, the projected capacity for additional expenditures, and the proposed ending fund balance to FY26. A proposed NBEDC FY25 budget was also included in the Treasurer's Report. 6. ADVISORY TEAM REPORT A) Presentation and discussion on the Quarterly Advisory Report President Meurin introduced this item. Michele Boggs, Senior VP, of the New Braunfels Chamber of Commerce presented a Powerpoint addressing second quarter accomplishments and work completed in support of the Confluence strategic plan priorities. Ms. Boggs discussed leads, pending projects, marketing activity, business retention and expansion work, entrepreneurship, workforce development updates, and progress in addressing early childhood education needs in our community. Economic indicators, employment/unemployment numbers, labor force participation rates, and education metrics were also shared. 7. DISCUSSION AND POSSIBLE ACTION A) Public hearing, discussion, and possible action approving an expenditure of up to $45,000 to Economic & Planning Systems, Inc., for phase two of a planning and feasibility study - a possible public/private partnership, pursuant to section 505.102 of the Texas Local Government Code. President Meurin introduced this item. Mr. Jewell presented on this matter and provided the Board a refresher about the next stage of the "Gruene 16" feasibility project. The planning process for the NBEDC-owned property on Gruene Road started in Fall 2023. Three development themes have emerged and phase two of this project will further refine the vision, address site planning, and undertake the solicitation process. The initial budget for this phase is $60,000; however, $15,000 from the previously approved funds from the first phase will be carried over. Mr. Jewell answered questions from the Board. President Meurin opened the public hearing at 5:23PM. No comments were made. President Meurin closed the public hearing at 5:23PM. Thursday, July 18, 2024 New Braunfels Economic Development Corporation Regular Meeting  Director Austin motioned to approve the project expenditure of up to $45,000 for phase two of the project. Director Carden seconded the motion which was unanimously approved. B) Presentation and discussion on a proposed administrative support and professional services contract with the City of New Braunfels. President Meurin introduced this item. Mr. Jewell presented on this matter and reminded the Board of their annual administrative support and professional services contract with the City. This contract allows City staff to support the NBEDC with contract development and administration, auditing and performance monitoring, fiscal impact analyses, legal services, annual reporting compliance, project management, financial transparency, and work to address the strategic initiatives. Staff are proposing at $50,000 increase to the FY25 contract with $25,000 earmarked for property management costs and $25,000 for professional services like feasibility studies and property appraisals. Mr. Jewell provided additional details around financial transparency, performance management, project management, and annual compliance efforts by City staff. C) Discussion and possible action to reschedule the September 19, 2024 NBEDC meeting to another date in September President Meurin introduced this item. Community events and upcoming travel may impact the potential for a quorum at the NBEDC September meeting, a new meeting date will need to be identified. The Board requested an emailed poll to address availability before selecting the rescheduled date. 8. 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 Texas 2. Project Madeline 3. Project Lark 4. Project Gather Thursday, July 18, 2024 New Braunfels Economic Development Corporation Regular Meeting  5. Project Aqua 6. Project Diamond President Meurin introduced this item. The Board entered into Executive Session at 5:35PM. The items were discussed in the following order: Project Texas, Project Madeline, Project Diamond, Project Aqua, and Project Gather. Project Lark was not discussed. No action was taken. The Board returned to open session at 5:58PM. 9. ADJOURNMENT President Meurin adjourned the meeting at 5:58PM. By: ______________________________ KATHY MEURIN, PRESIDENT Thursday, July 18, 2024 New Braunfels Economic Development Corporation Regular Meeting