IDC

NOTICE OF MEETING
INDUSTRIAL DEVELOPMENT CORPORATION
March 4, 2025 - 9:00 A.M.
CITY HALL - ROOM 204
823 ROSENBERG
GALVESTON, TEXAS
409.797.3510

AGENDA

I.

Declaration of a Quorum

II.

Roll Call

III.

Conflict of Interest Declaration

IV.

Consider Approval of Meeting Minutes – February 4, 2025

Documents:
  1. IDC Draft Minutes_02042025.pdf
V.

Public Comment on Agenda Items


VI.

Economic Development Silo

A.  Update on Financial Forecast – Economic Development Silo, 5-Year Funding Plan (B. Cook)

B.  Project Updates – ED Silo
      1.  Receive an Update on Airport projects
      2.  Receive an Update from Coastal Windstorm Insurance Coalition (T. Tarlton-Shannon)
      3.  Discuss and Consider Contract Renewal and Invoice for Coastal Windstorm Insurance Coalition
      4.  Discuss and Receive Update on Galveston Comprehensive Plan and its correlation with Economic Development Incentive Policy & Guidelines (T. Tietjens)

C.  Project Consideration- ED Silo
      1.  Consider for approval a Resolution of the Board of Directors of the Industrial Development Corporation of the City of Galveston in the amount of $35,000 for right-of-way work including title searches and legal descriptions for the Right-of-Way Work for the Pelican Island Bridge Project.
      2.  Consider for approval an Economic Development Agreement between the Industrial Development Corporation and the City of Galveston for $35,000 to fund the Right-of-Way Work for the Pelican Island Bridge.

Documents:
  1. 2025-02-26 Invoice Economic Development.pdf
  2. CWIC agreement.docx
  3. RESOLUTION_ROW for PEL ISL BR.docx
  4. PELICAN BRIDGE ROW WORK AGREEMENT.docx
VII.

Administrative Matters

  1. Discuss And Receive Update From Treasurer On Expenses, Available Funds, Forecasts And Investments. (B. Cook)
  2. Discuss and Receive Update on Current or Completed IDC Projects (M. Hay)
  3. Discuss and Receive Update FY25 Calendar. (M. Hay)
Documents:
  1. FY25 Op Budget-Spending Plan__Approved 08.6.2024.pdf
  2. IDC Forecasting - Beach-Parks-Infra Silos_PKT as of 6.30.2024 for 3.04.2025_mh.pdf
  3. IDC calendar FY 2025_rev 08.6.2024.pdf
VIII.

Executive Session

Pursuant to Texas Government Code Section 551.072 Deliberation Regarding Real Property the Corporation may convene into Executive Session to discuss the purchase, exchange, lease, or value of real property.

A.  Pelican Island Property Acquisition

IX.

Consider Any Action as May Be Required As Resulting From The Executive Session Concerning the Funding of the Purchase of Real Property on Pelican Island Conducted From IDC.

X.

Request Agenda Items For Future Meetings

XI.

Adjournment

I certify that the above Notice of Meeting was posted in a place convenient to the public in compliance with Chapter 551 of the Texas Government Code on February 28, 2025 at 6:35 P.M.

Janelle Williams

Janelle Williams, City Secretary

One or more members of the Industrial Development Corporation may attend the meeting by videoconference.  A quorum of the members of the Corporation will be physically present at the meeting location. 

IN ACCORDANCE WITH THE PROVISIONS OF THE AMERICANS WITH DISABILITIES ACT (ADA), PERSONS IN NEED OF A SPECIAL ACCOMMODATION TO PARTICIPATE IN THIS PROCEEDING SHALL, WITHIN THREE (3) DAYS PRIOR TO ANY PROCEEDING, CONTACT THE CITY SECRETARY'S OFFICE, SUITE 201, 823 ROSENBERG, GALVESTON, TEXAS 77550 (409-797-3510).