JTEDC – routine business, executive sessions James Murr The Junction Eagle The Board of the Junction Texas Economic Development Corporation (JTEDC) held its monthly meeting on July 2. Miscellaneous topics were discussed and action was tabled on most items until the next board meeting. The board also met in executive session (closed to the public) on deliberations regarding economic development negotiations. Earlier, on June 24, the board also met in executive session on “personnel matters”. As reported earlier, the board has stopped exploring the possibility of installing free Wi-Fi access in the City Park. Instead, the board decided to consider making a grant available for local businesses to provide such access. The board’s executive director, Patricia Whitty, provided a very preliminary report on the basic cost for providing access, including hardware and Internet service costs. The board tabled action on establishing this new grant program until Whitty can obtain firmer cost estimates, as well as survey some of the community’s businesses to determine their interest in obtaining this type of grant. The board was prepared to modify its Advertising and Marketing Grant Program to permit explicitly the use of grant funds for awnings for a business storefront. This grant (up to $2,500 an applicant) is now used to make storefront improvements such as exterior painting, siding, landscaping, and signage. The board tabled action on this item until the grant application can also be clarified to make clear that the grant is for active commercial businesses operating out of commercial buildings (versus a home-based business). In order to ensure that JTEDC funds are protected by federal deposit insurance, the board reviewed its recent re-allocation of funds between the Junction National Bank and the Kerr County Federal Credit Union. Depending on future JTEDC fund balances, it may be necessary to deposit some funds in the First State Bank. The board also discussed the possibility of depositing funds in TexPool. TexPool is “a local government investment pool created on behalf of Texas entities whose investment objectives are preservation and safety of principal, liquidity and yield consistent with the Public Funds Investment Act.” Further action on the reallocation of funds was tabled until further research on deposit alternatives can be completed. The board expressed its clear preference, however, to keep the funds on deposit with local financial institutions instead of TexPool. Whitty reported that she continues to research what is required for the JTEDC to file for federal Section 501(c)(3) tax exempt status. The board received a written update on steps taken to date to implement its “2013 JTEDC Action Plan”. The plan’s three priorities are to develop local workforce training; recruit businesses; and promote and market JTEDC programs. One of the steps completed to date is training provided to the City Council, the JTEDC Board, the Junction Texas Tourism Board, and the Kimble County Chamber of Commerce. A “professional services and retail needs assessment” was also completed. Other steps are ongoing. After returning from its executive session on economic development negotiations, the board did not discuss the matter further or take any action. State law permits an executive session to deliberate on commercial or financial information received from a business prospect that the JTEDC seeks to have locate, stay, or expand in or near its area of jurisdiction and with which the JTEDC is conducting negotiations. The offer of a financial or other incentive to a business prospect may also be addressed. In regards to the closed session on personnel matters held on June 24, no further discussion or action took place after the board returned to open session. State law permits personnel matters concerning board members and employees to be addressed in closed session when the board deliberates the appointment, employment, evaluation, reassignment, duties, discipline, or dismissal of an employee or board member, or to hear a complaint or charge against the same. The board tabled further work on the JTEDC budget for fiscal year 2014 (October 1, 2013 through September 30, 2014) until the August board meeting. The JTEDC’s budget will be subject to final approval by the City Council. All board members, except Doug Haynes, were present for the meeting: Fred Bowers, Alan Hartt, Sherry Hubbard, Jean Jacoby, Larry Maddux and Carol Neiman. The board meets monthly at 5:15 p.m. on the first Tuesday of each month in the City Meeting Room at 102 N. 5th Street. Meetings are open to the public.
Posted on: Thu, 11 Jul 2013 13:32:24 +0000
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