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2014 02 06 MDD MinutesMINUTES OF THE REGULAR MEETING OF THE BOARD OF DIRECTORS OF THE BAYTOWN MUNICIPAL DEVELOPMENT DISTRICT February 06, 2014 The Board of Directors of the Baytown Municipal Development District (MDD) met in a Regular Meeting on Thursday, February 06, 2014, at 4:49 P.M., in the Council Chamber of the Baytown City Hall, 2401 Market Street, Baytown, Texas with the following in attendance: Stephen DonCarlos Chris Presley Reggie Brewer Brandon Capetillo Gary Englert Terry Sain Robert D. Leiper Ignacio Ramirez, Sr. Leticia Brysch President Director Secretary Director Director Director General Manager General Counsel Assistant Secretary President DonCarlos convened the February 06, 2014, Municipal Development District (MDD) Board Regular Meeting with a quorum present at 4:49 P.M., all members were present with the exception of Directors Mary Hernandez, Robert Hoskins, David Jirrels, David McCartney, and Mercedes Renteria who were all absent. 1. MINUTES a. Consider approving the minutes of the Municipal Development District Board Regular Meeting held on September 05, 2013. A motion was made by Director Terry Sain and seconded by Secretary Reggie Brewer approving the September 05, 2013, MDD Board Regular Meeting minutes. The vote was as follows: Ayes: Secretary Reggie Brewer, Director Brandon Capetillo, President Stephen H. DonCarlos, Director Gary Englert, Director Chris Presley, Director Terry Sain Nays: None Other: Director Mary Hernandez (Absent), Director Robert C. Hoskins (Absent), Director David P. Jirrels (Absent), Director David McCartney (Absent), Director Mercedes Renteria III (Absent) Approved MDD Board Regular Meeting Minutes February 06, 2014 Page 2 of 6 i� W tip) tail Dill R aGYa] R " d [11]1ZK a. Consider a resolution approving the Baytown Municipal Development District's (MDD) Investment Policy and Strategy Statement in accordance with the Public Funds Investment Act. General Manager Leiper presented the agenda item and stated that this is the annual renewal of the approval of the Baytown Municipal Development District's (MDD) Investment Policy and Strategy Statement. He stated that the only substantive changes made were the authorized investment officers. A motion was made by Secretary Reggie Brewer and seconded by Director Brandon Capetillo approving Resolution No. 227. The vote was as follows: Ayes: Secretary Reggie Brewer, Director Brandon Capetillo, President Stephen H. DonCarlos, Director Gary Englert, Director Chris Presley, Director Terry Sam Nays: None Other: Director Mary Hernandez (Absent), Director Robert C. Hoskins (Absent), Director David P. ]irrels (Absent), Director David McCartney (Absent), Director Mercedes Renteria III (Absent) Approved RESOLUTION NO. 227 A RESOLUTION OF THE BOARD OF DIRECTORS OF THE BAYTOWN MUNICIPAL DEVELOPMENT DISTRICT ADOPTING THE BAYTOWN MUNICIPAL DEVELOPMENT DISTRICT'S INVESTMENT POLICY AND INVESTMENT STRATEGY IN ACCORDANCE WITH THE PUBLIC FUNDS INVESTMENT ACT; AND PROVIDING FOR THE EFFECTIVE DATE THEREOF. It. Consider a resolution authorizing the Economic Development Basic Services Contract with Baytown/West Chambers County Economic Development Foundation. Mayor DonCarlos inquired if this was amendment and inquired of the date of the contract. General Manager Leiper stated that this was the contract and that the date of their contract runs with the City's fiscal year, but their fiscal year is based on the calendar year. He stated that their first payment would include two payments because of the fiscal year differences and that the contract dates were October 01, 2013 through September 30, 2014. He stated that the services and funding would remain the same as budgeted but during this year's budget process, there will be a request to increase the service fees as they have remained unchanged since 2006. MDD Board Regular Meeting Minutes February 06, 2014 Page 3 of 6 A motion was made by Secretary Reggie Brewer and seconded by Director Brandon Capetillo approving Resolution No. 2287. The vote was as follows: Ayes: Secretary Reggie Brewer, Director Brandon Capetillo, President Stephen H. DonCarlos, Director Gary Englert, Director Chris Presley, Director Terry Sam Nays: None Other: Director Mary Hernandez (Absent), Director Robert C. Hoskins (Absent), Director David P. Iirrels (Absent), Director David McCartney (Absent), Director Mercedes Renteria III (Absent) Approved RESOLUTION NO. 228 A RESOLUTION OF THE BOARD OF DIRECTORS OF THE BAYTOWN MUNICIPAL DEVELOPMENT DISTRICT AUTHORIZING THE GENERAL MANAGER TO EXECUTE AND THE ASSISTANT SECRETARY TO ATTEST TO AN ECONOMIC DEVELOPMENT CONTRACT BETWEEN THE BAYTOWN AREA/WEST CHAMBERS COUNTY ECONOMIC DEVELOPMENT FOUNDATION AND THE BAYTOWN MUNICIPAL DEVELOPMENT DISTRICT FOR ECONOMIC DEVELOPMENT SERVICES; AND PROVIDING FOR THE EFFECTIVE DATE THEREOF. C. Consider a resolution authorizing the Economic Development Special Services Contract with Baytown/West Chambers County Economic Development Foundation. General Manager Leiper presented the agenda item and stated that Resolution No. 229 authorizes the Economic Development Special Services Contract with Baytown/West Chambers County Economic Development Foundation for an amount not to exceed $100,000. He stated that there was structure change, but that the following listed items 1 -3 were on a reimbursement basis only: 1. Trade Shows: $4,000 2. Marketing Program Implementation: S 1 1,000 3. Phase III Housing Research/Strategy: $55,000 4. EB -5 Program Research, Development and Implementation: $30,000 General Manager Leiper stated that an EB -5 is an area that's consistently high in unemployment and qualifies for a forward investment as a way to fund development. He stated that in order to do that, an EB -5 Regional Center should be established or for those affected census tracks. He stated that there is another EB -5 that can be used anywhere, but it has a higher threshold. General Manager Leiper stated that the EB -5 being recommended is an investment of $500,000 in an area of chronically high unemployment. He stated that the EB -5 Regional Center would be for primarily the downtown and old Baytown areas. He stated that the EB -5 application will not be MDD Board Regular Meeting Minutes February 06, 2014 Page 4 of 6 approved without City Council approval and would be on a quarterly payment basis and an addition to the $200,000. General Manager Leiper stated that item #4 may include partial funding to add additional staff to manage the EB -5 initiative, as well as, the continually growing workload for the Foundation. During further discussion, General Manager Leiper stated that the EB -5 program is a Federal program in which the Governor used to approve, but now the Mayor can approve. Council Member Presley stated that $55,000 is a significant cost for a housing study. He stated that there are recommendations from prior studies that are still not executed regarding higher end houses. He stated that the recommendations should be executed as opposed to doing another study. Mayor DonCarlos stated that there have been meetings with housing developers and toward the northern part of the city, development will start. General Manager Leiper stated that the studies should be updated, because many developers request data and may not consider data if it is more than two years old. Council Member Presley stated that the EB -5 Research, Development and Implementation is a very complex, expensive, and time consuming process and could cost more than $30,000. General Manager Leiper stated that this contract is just for the research. The packet information showed the listed item #2 as $21,000. It was pointed out by Council Member Capetillo who stated that according to the contract, the amount for marketing program implementation showed $11,000. General Manager Leiper stated that the contract amount is correct. A motion was made by Secretary Reggie Brewer and seconded by Director Brandon Capetillo approving Resolution No. 229. The vote was as follows: Ayes: Secretary Reggie Brewer, Director Brandon Capetillo, President Stephen H. DonCarlos, Director Gary Englert, Director Chris Presley, Director Terry Sam Nays: None Other: Director Mary Hernandez (Absent), Director Robert C. Hoskins (Absent), Director David P. Jirrels (Absent), Director David McCartney (Absent), Director Mercedes Renteria III (Absent) Approved MDD Board Regular Meeting Minutes February 06, 2014 Page 5 of 6 RESOLUTION NO. 229 A RESOLUTION OF THE BOARD OF DIRECTORS OF THE BAYTOWN MUNICIPAL DEVELOPMENT DISTRICT AUTHORIZING THE GENERAL MANAGER TO EXECUTE AND THE ASSISTANT SECRETARY TO ATTEST TOAN ECONOMIC DEVELOPMENT SPECIAL SERVICES CONTRACT BETWEEN THE BAYTOWN AREA /WEST CHAMBERS COUNTY ECONOMIC DEVELOPMENT FOUNDATION AND THE BAYTOWN MUNICIPAL DEVELOPMENT DISTRICT FOR ECONOMIC DEVELOPMENT SERVICES; AND PROVIDING FOR THE EFFECTIVE DATE THEREOF. 3. BUSINESS ITEMS a. Receive the first quarter Economic Development Report for 2014 Mr. B.J. Simon presented the first quarter Economic Development report for 2014, and stated that during the time period reported they responded to 63 prospects. He stated that they had several site visits with some of the projects still active. He stated that there has been in increase interest for mutli - family and residential development and that they continue their efforts and work to develop economic growth through various programs. 4. REPORTS a. Receive the Baytown Municipal Development District's Quarterly Investment Report for the Quarter Ending December 31, 2013. It. Receive the Baytown Municipal Development District's Revenues and Expenditures Report for the Quarter Ending December 31, 2013. Mayor DonCarlos stated that agenda items 4.a. and 4.b. would be considered together. Finance Director, Louise Richman presented the Baytown Municipal Development District's Quarterly Investment Report for the Quarter Ending December 31, 2013, and stated that the sales tax was up 1.72% over the prior period of last year. She stated that the expenditures included the major projects of the Tabbs Bay Pile Removal, playground equipment for parks, Sports Complex Improvements, Signalization work at highway 146 and I -10, the administration cost of $300,000, and the debt payment monthly transfer. Ms. Richman stated that there is right at $6 million dollars in investments and the average yield is .1129 %. 5. MANAGER'S REPORT There was no report. MDD Board Regular Meeting Minutes February 06, 2014 Page 6 of 6 6. ADJOURN A motion was made by Director Brandon Capetillo and seconded by Director Chris Presley adjourning the February 06, 2014, MDD Regular Meeting. The vote was as follows: Ayes: Secretary Reggie Brewer, Director Brandon Capetillo, President Stephen H. DonCarlos, Director Gary Englert, Director Chris Presley, Director Terry Sam Nays: None Other: Director Mary Hernandez (Absent), Director Robert C. Hoskins (Absent), Director David P. Jirrels (Absent), Director David McCartney (Absent), Director Mercedes Renteria III (Absent) Approved With there being no further business to discuss, President DonCarlos adjourned the February 06, 2014, Municipal Development District (MDD) Board Regular Meeting at 5:28 P.M. v I Leticia Brysch, Assis t E ecretary City of Baytown ° °�pinnunt�"