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HomeMy WebLinkAbout02/11/2016 - Workshop Agenda Packet - City CouncilCity Council Workshop College Station, TX Meeting Agenda - Final City Hall 1101 Texas Ave College Station, TX 77840 City Hall Council Chambers4:30 PMThursday, February 11, 2016 1. Call meeting to order. 2. Executive Session will be held in the Administrative Conference Room. Consultation with Attorney {Gov’t Code Section 551.071}; possible action. The City Council may seek advice from its attorney regarding a pending or contemplated litigation subject or settlement offer or attorney-client privileged information. Litigation is an ongoing process and questions may arise as to a litigation tactic or settlement offer, which needs to be discussed with the City Council. Upon occasion the City Council may need information from its attorney as to the status of a pending or contemplated litigation subject or settlement offer or attorney-client privileged information. After executive session discussion, any final action or vote taken will be in public. The following subject(s) may be discussed: Litigation a.Juliao v. City of College Station, Cause No. 14-002168-CV-272, In the 272nd District Court of Brazos County, Texas b. City of College Station, Texas, v. Embrace Brazos Valley, Inc., Cause No. 15-000804-CV-85, In the 85th Judicial District Court, Brazos County, Texas Competitive Matters {Gov't Code Section 551.086); possible action: The City Council may deliberate, vote, or take final action on a competitive matter as that term is defined in Gov't Code Section 552.133 in closed session. The following is a general representation of the subject matter to be considered: a. Power Supply 3. Take action, if any, on Executive Session. 4. Presentation, possible action and discussion on items listed on the consent agenda. Presentation, possible action, and discussion by the Convention and Visitor's Bureau of Huddle Up Group's Report on the current and future of the Sports Tourism Industry in the Bryan-College Station area. 15-07685. Sponsors:Schmitz Page 1 College Station, TX Printed on 2/5/2016 February 11, 2016City Council Workshop Meeting Agenda - Final Presentation, possible action, and discussion of proposed Community Development Block Grant Economic Development Program Guidelines. 16-00756. Sponsors:Ruiz and Brower Attachment 1-CDBG Economic Development Guidelines - Draft.docxAttachments: Presentation, possible action, and discussion regarding an update of compensation strategy and work. 16-00767. Sponsors:Templin 8. Council Calendar - Council may discuss upcoming events. 9.Presentation, possible action, and discussion on future agenda items and review of standing list of Council generated agenda items: A Council Member may inquire about a subject for which notice has not been given. A statement of specific factual information or the recitation of existing policy may be given. Any deliberation shall be limited to a proposal to place the subject on an agenda for a subsequent meeting. 10.Discussion, review and possible action regarding the following meetings: Animal Shelter Board, Annexation Task Force, Arts Council of Brazos Valley, Arts Council Sub-committee, Audit Committee, Bicycle, Pedestrian, and Greenways Advisory Board, Bio-Corridor Board of Adjustments, Blinn College Brazos Valley Advisory Committee, Brazos County Health Dept., Brazos Valley Council of Governments, Bryan/College Station Chamber of Commerce, Budget and Finance Committee, BVSWMA, BVWACS, Compensation and Benefits Committee, Convention & Visitors Bureau, Design Review Board, Economic Development Committee, Gigabit Broadband Initiative, Historic Preservation Committee, Interfaith Dialogue Association, Intergovernmental Committee, Joint Relief Funding Review Committee, Landmark Commission, Library Board, Metropolitan Planning Organization, Parks and Recreation Board, Planning and Zoning Commission, Research Valley Partnership, Research Valley Technology Council, Regional Transportation Committee for Council of Governments, Sister Cities Association, Transportation and Mobility Committee, TAMU Student Senate, Texas Municipal League, Twin City Endowment, YMCA, Youth Advisory Council, Zoning Board of Adjustments, (Notice of Agendas posted on City Hall bulletin board). 11. Adjourn The City Council may adjourn into Executive Session to consider any item listed on this agenda if a matter is raised that is appropriate for Executive Session discussion. An announcement will be made of the basis for the Executive Session discussion. APPROVED _____________________ City Manager Page 2 College Station, TX Printed on 2/5/2016 February 11, 2016City Council Workshop Meeting Agenda - Final I certify that the above Notice of Meeting was posted at College Station City Hall, 1101 Texas Avenue, College Station, Texas, on February 5, 2015 at 5:00 p.m. _____________________ City Secretary This building is wheelchair accessible. Handicap parking spaces are available. Any request for sign interpretive service must be made 48 hours before the meeting. To make arrangements call (979) 764 3541 or (TDD) 1 800 735 2989. Agendas may be viewed on www.cstx.gov. Council meetings are broadcast live on Cable Access Channel 19. Penal Code § 30.07. Trespass by License Holder with an Openly Carried Handgun. "Pursuant to Section 30.07, Penal Code (Trespass by License Holder with an Openly Carried Handgun) A Person Licensed under Subchapter H, Chapter 411, Government Code (Handgun Licensing Law), may not enter this Property with a Handgun that is Carried Openly." Codigo Penal § 30.07. Traspasar Portando Armas de Mano al Aire Libre con Licencia. "Conforme a la seccion 30.07 del codigo penal (Traspasar portando armas de fuego publicamente), personas con licencia bajo del Sub-Capitulo H, Capitulo 411m Codigo de Gobierno (Ley de licencia de armas), no deben entrar a esta propiedad portando armas de fuego publicamente." Page 3 College Station, TX Printed on 2/5/2016 City Hall 1101 Texas Ave College Station, TX 77840 College Station, TX Legislation Details (With Text) File #: Version:115-0768 Name:CVB Huddle Up Group Report Status:Type:Report Agenda Ready File created:In control:12/22/2015 City Council Workshop On agenda:Final action:2/11/2016 Title:Presentation, possible action, and discussion by the Convention and Visitor's Bureau of Huddle Up Group's Report on the current and future of the Sports Tourism Industry in the Bryan-College Station area. Sponsors:David Schmitz Indexes: Code sections: Attachments: Action ByDate Action ResultVer. Presentation, possible action, and discussion by the Convention and Visitor's Bureau of Huddle Up Group's Report on the current and future of the Sports Tourism Industry in the Bryan-College Station area. Presentation by the Convention and Visitor's Bureau of Huddle Up Group's Report on the current and future of the Sports Tourism Industry in the Bryan-College Station area. Recommendation(s): Summary: Budget & Financial Summary: Attachments: College Station, TX Printed on 2/5/2016Page 1 of 1 powered by Legistar™ City Hall 1101 Texas Ave College Station, TX 77840 College Station, TX Legislation Details (With Text) File #: Version:116-0075 Name:Community Development Block Grant Economic Development Program Guidelines Status:Type:Presentation Agenda Ready File created:In control:2/1/2016 City Council Workshop On agenda:Final action:2/11/2016 Title:Presentation, possible action, and discussion of proposed Community Development Block Grant Economic Development Program Guidelines. Sponsors:Natalie Ruiz, David Brower Indexes: Code sections: Attachments:Attachment 1-CDBG Economic Development Guidelines - Draft.pdf Action ByDate Action ResultVer. Presentation, possible action, and discussion of proposed Community Development Block Grant Economic Development Program Guidelines. Relationship to Strategic Goals: (Select all that apply) ·Financially Sustainable City ·Core Services and Infrastructure ·Diverse Growing Economy Recommendation(s): Staff recommends approval. Summary: The City's Community Development Block Grant (CDBG) funds can be used to carry out a wide variety of economic development activities with the purpose of providing employment opportunities for low and moderate income people. The proposed CDBG Economic Development Program Guidelines have been developed to meet the requirements of the grant, provide a versatile tool to be used by the City's Economic Development staff to further the City's economic development goals, and encourage the creation of jobs. Budget & Financial Summary: $50,000.00 in CDBG funding was allocated in the current year Action Plan and budget. Attachments: Attachment 1: CDBG Economic Development Program Guidelines College Station, TX Printed on 2/5/2016Page 1 of 1 powered by Legistar™ 1 CITY OF COLLEGE STATION CDBG ECONOMIC DEVELOPMENT PROGRAM PROGRAM GUIDELINES Unless herein stated otherwise, the general operating procedures contained in 24 CFR Part 570 (Community Development Block Grant Program) will be followed. A. STATEMENT OF PURPOSE & PROGRAM OVERVIEW The City of College Station (City) Economic Development Program (EDP) is funded through the U.S. Department of Housing and Urban Development (HUD) Community Development Block Grant (CDBG) funds. Additionally, the City may utilize other local, state, or federal resources that become available. All assistance is under the provisions of 24 CFR § 570, specifically 24 CFR § 570.203 (Special Economic Development Activities), 24 CFR § 570.209 (Guidelines for Evaluating and Selecting Economic Development Projects), 24 CFR § 570.210 (Prohibition on use of Assistance for Employment Relocation Activities), 24 CFR § 570.208 (National Objective Regulations), and 24 CFR § 570.506 (Documentation Regulations). Assistance under the EDP will be prioritized for projects that further the City’s economic development strategy as outlined in the City of College Station Comprehensive Plan, the City of College Station Economic Development Master Plan, and the City’s Consolidated Plan. The City must ensure that not less than 70% of its CDBG funds are used for activities that benefit low -and moderate-income (LMI) persons (at or below 80% of median). This is achieved by granting maximum feasible priority to activities that meet one of the following federal National Objectives: benefit low - and moderate-income persons or families; or aid in the prevention or elimination of slums or blight; or meet an urgent community development need. The City’s CDBG Economic Development program achieves the National Objective by providing job and economic opportunities for LMI persons. City CDBG Economic Development programs provide grants, low interest rate loans with flexible repayment terms, and other loan products to assist qualifying businesses who undertake activities resulting in the creation or retention of job opportunities for LMI persons. B. GENERAL CONDITIONS Business loans and grants may be provided to eligible business concerns under the following general conditions, which also include HUD Appendix A, Guidelines and Objectives for Evaluating Project Costs and Financial requirements, also referred to as HUD’s underwriting guidelines at 24 CFR § 570.209 (a). Loans can be provided in tandem with commercial financing and must be used to provide “gap” financing for projects with conventional lenders. The guidelines do not preclude the use of other acceptable underwriting standards that include at a minimum those found at 24 CFR § 570.209 (a). C. CDBG National Objective and Public Benefit Determination Each loan funded must meet a national objective under the CDBG regulations. Inasmuch as the funds were provided under the economic development activity located at 24 CFR § 570.203 (Special Economic Development Activities), in order to meet a CDBG national objective the project must: 2  Create a full time permanent job within two years of receiving the funds for each $35,000 of CDBG funds received by the applicant, or  Meet the presumed benefit of creating a job, if it can documented that o The employee lives in a census tract with 70% LMI, or o Lives within an Empowerment Zone (EZ) or Enterprise Community (EC), or o The employee lives in a census tract with a 20% poverty rate (30% poverty if it includes the Central Business District (CBD) and evidences pervasive poverty and general distress, or o The business /job is located in EC/EZ, or o The business is located in an area with 20% poverty (30% if the area includes CBD and evidences pervasive poverty and general distress) D. ELIGIBILITY CRITERIA Eligible participants for the EDP include on-going and start-up private, for profit businesses and nonprofit businesses, that are classified as industrial, commercial, service or retail business, and that are located in or expanding to the City of College Station. Projects to be financed under the EDP must be located within the incorporated area of the City of College Station. No outstanding unpaid judgments or involuntary liens at the time the City’s loan is recorded. No bankruptcies, which have not been dismissed prior to the recordation. EDP fund shall not be available for the following business: 1) Speculative investment companies 2) Real estate investment companies 3) Lending institutions 4) Gambling operations 5) Assistance to professional sports teams 6) Acquisition of land for which a specific proposed use has not yet been identified 5) Other businesses not serving the interest of the City E. JOB CREATION AND RETENTION The EDP will provide funds to support economic development projects that involve the creation or retention of permanent jobs, at least 51% of which must benefit LMI persons. In calculating employment opportunities to be used for determining the percentage of jobs that benefit LMI persons, the following applies:  Part-time jobs must be converted to full-time equivalents (FTE). An FTE job is any combination of two or more part-time jobs that, when combined together, constitute the equivalent of a job of at least 40 hours per week.;  Only permanent jobs count; temporary jobs may not be included;  Seasonal jobs are considered to be permanent if the season is long enough for the job to be considered as the employee’s principal occupation; and  Jobs indirectly created or retained by an assisted activity are not eligible to be counted. 3 A Public Benefit must be realized by achieving the following:  In the aggregate by creating or retaining at least one full-time (FTE) permanent job per $35,000 of CDBG funds expended.  On an individual standard, the amount of CDBG funding cannot exceed $50,000 per full -time (FTE), permanent job created or retained.  The following activities may be excluded from the aggregate standards: o Those that provide jobs for homeless persons o Those that provide jobs for low skilled LMI persons where there are clear opportunities for advancement o Those that provide opportunities for persons residing in a census tract where at least 20% of the residents are in poverty o Those that stabilize or revitalize a neighborhood that has at least 70% LMI residents If the low and moderate income job creation/retention national objective is not met by a business within t wo years of receiving the funding, the funding will be required to be returned to the City. F. APPLICATION PROCEDURES Preliminary Meeting Prior to submission of an application, the potential applicant shall meet with City staff to discuss the proposed project, program requirements, and application process. Application Format Applicants shall submit a proposal consisting of the following information:  A completed EDP Application Form, as provided at the preliminary meeting.  A business plan completed within one year of application, which includes the minimum requirements outlined in the application.  Documentation and/or statement of the need for EDP involvement in the project.  Documentation of commitments of other lender(s) and/or source and commitment of leveraged funds.  Financial information as outlined in the application. Application Submittal The completed application and all required attachments shall be submitted to: City of College Station Community Services Department. Community Services staff will provide complete directions for application submittal in the Preliminary Meeting. Approval of applications will be subject to the availability of EDP dollars. G. REVIEW PROCESS Staff Review Staff will review the application for completeness and verify that the proposed project meets the standards and eligibility requirements. If the application is incomplete, staff will contact the applicant and list the deficiencies. The review process will not continue until all deficiencies have been addressed. Staff will analyze the complete application and prepare a recommendation for the Loan Committee. 4 Environmental Clearance The proposed project must receive official environmental clearance from the city pr ior to the applicant committing funds or the expenditure of any of the EDP funds. This is a federal requirement and will be completed by Community Services staff, in conjunction with the applicant. Credit Check Staff will perform a credit check on both the company’s principals and on the business. Preliminary Negotiation of Terms Upon completion of the application review with a favorable recommendation, City staff may meet with the applicant to negotiate and arrive at a consensus on the preliminary recommended terms including, the loan amount, interest rate, term of loan, collateral, and repayment schedule. The preliminary terms will be part of the loan package recommendation for the Loan Committee’s consideration. Loan Committee Review The Loan Committee will meet to review the application, receive the staff recommendation, and approve or deny the application and any associated funding. Notice of Award / Denial of Application If the application is approved and negotiation of terms is successful, the applicant will receive a notice of award letter. If the application is not approved, the applicant will receive a letter of denial stating the reason for denial. The notice of award letter will have a schedule of when loan documents should be complete and a suggested loan closure date. H. DISTRIBUTION OF FUNDS TO APPROVED APPLICANTS Loan Agreement Prior to the city’s distribution of EDP funds, all appropriate documents such as a loan agreement, promissory note, repayment schedule, security instruments, personal guarantee and any others appropriate or required documents will be prepared and executed. Evidence of Expenditures The business must provide documentation related to EDP fund expenditures prior to release of EDP funds. Such documentation will be for expenditures outlined in the application and the loan agreement , and will include invoices, receipts and/or final bills of sale or canceled checks as determined appropriate by City staff. Reimbursement for approved eligible expenditures will only be disbursed to the borrower. I. CONFLICT OF INTEREST STATEMENT No member of the governing body, or any other official, employee, or agent of the Community who exercises decision-making functions or responsibilities in connection with the implementation of this program is eligible for financial assistance under this program. Recipients of EDP funds will ensure and certify that no conflicts of interest exist pursuant to Chapter 171 of the Texas Local Government Code. 5 Recipients will also ensure compliance with applicable provisions under 24 CFR Sections 84.40 - 84.48 and OMB Circular A-110 in the procurement of property and services. J. ANTI-DISPLACEMENT POLICY STATEMENT 1. The City shall not engage or participate in any activities that influence the permanent and/or involuntary relocation or displacement of any low-income family due to the DAP pursuant to the provisions of 24 CFR§ 92.353 Displacement, Relocation, and Acquisition. 2. It is not anticipated that it would be necessary to relocate any families. However, the City will follow the relocation procedures as set forth in its adopted Anti -Displacement Policy if the need does arise. K. EQUAL OPPORTUNITY STATEMENT The City of College Station is committed to providing equal opportunity for minority - or women-owned businesses to compete and obtain contracts for City sponsored projects, and will comply with the provisions of 24 CFR § 92.350 (Other Federal requirements and nondiscrimination) and 24 CFR § 92.351 (Affirmative marketing; minority outreach program). L. OTHER FEDERAL REQUIREMENTS 1) The use of EDP funds must be determined to be “necessary and appropriate” as defined by HUD guidelines. 2) Federal Equal Opportunity Requirements apply to all EDP funded projects. 3) Federal Fair Labor Standards Requirements apply to construction and rehabilitation if EDP dollars are used to fund all or part of the construction or rehabilitation elements of the project (i.e. Davis-Bacon rules apply for all construction activities). 4) Generally, federally assisted buildings and facilities must be handicapped accessible. 5) These guidelines are subject to the Inspector General Act of 1978. 6) The project is subject to any other applicable state and federal regulations. M. References Applicable regulations at 24 CRF, Part 570 and HUD’s Economic Development Tool Kit were used to develop these guidelines, and should be referred to as necessary. 6 Appendix A Part 570—Guidelines and Objectives for Evaluating Project Costs and Financial Requirements I. Guidelines and Objectives for Evaluating Project Costs and Financial Requirements. HUD has developed the following guidelines that are designed to provide the recipient with a framework for financially underwriting and selecting CDBG-assisted economic development projects which are financially viable and will make the most effective use of the CDBG funds. The use of these underwriting guidelines as published by HUD is not mandatory. However, grantees electing not to use these und erwriting guidelines would be expected to conduct basic financial underwriting prior to the provision of CDBG financial assistance to a for-profit business. States electing not to use these underwriting guidelines would be expected to ensure that the state or units of general local government conduct basic financial underwriting prior to the provision of CDBG financial assistance to a for-profit business. II. Where appropriate, HUD's underwriting guidelines recognize that different levels of review are appropriate to take into account differences in the size and scope of a proposed project, and in the case of a microenterprise or other small business to take into account the differences in the capacity and level of sophistication among businesses of differing sizes. III. Recipients are encouraged, when they develop their own programs and underwriting criteria, to also take these factors into account. For example, a recipient administering a program providing only technical assistance to small businesses might choose to apply underwriting guidelines to the technical assistance program as a whole, rather than to each instance of assistance to a business. Given the nature and dollar value of such a program, a recipient might choose to limit its evaluation to factors such as the extent of need for this type of assistance by the target group of businesses and the extent to which this type of assistance is already available. IV. The objectives of the underwriting guidelines are to ensure: (1) That project costs are reasonable; (2) That all sources of project financing are committed; (3) That to the extent practicable, CDBG funds are not substituted for non -Federal financial support; (4) That the project is financially feasible; Code of Federal Regulations / Title 24 - Housing and Urban Development / Vol. 3 / 2012-04-01175 (5) That to the extent practicable, the return on the owner's equity investment will not be unreasonably high; and (6) That to the extent practicable, CDBG funds are disbursed on a pro rata basis with other finances provided to the project. i. Project costs are reasonable. i. Reviewing costs for reasonableness is important. It will help the recipient avoid providing either too much or too little CDBG assistance for the proposed project. The refore, it is suggested that the grantee obtain a breakdown of all project costs and that each cost element making up the project be reviewed for reasonableness. The amount of time and resources the recipient expends evaluating the reasonableness of a cost element should be commensurate with its cost. For example, it 7 would be appropriate for an experienced reviewer looking at a cost element of less than $10,000 to judge the reasonableness of that cost based upon his or her knowledge and common sense. For a cost element in excess of $10,000, it would be more appropriate for the reviewer to compare the cost element with a third-party, fair-market price quotation for that cost element. Third-party price quotations may also be used by a reviewer to help determine the reasonableness of cost elements below $10,000 when the reviewer evaluates projects infrequently or if the reviewer is less experienced in cost estimations. If a recipient does not use third-party price quotations to verify cost elements, then the rec ipient would need to conduct its own cost analysis using appropriate cost estimating manuals or services. ii. The recipient should pay particular attention to any cost element of the project that will be carried out through a non-arms-length transaction. A non-arms-length transaction occurs when the entity implementing the CDBG assisted activity procures goods or services from itself or from another party with whom there is a financial interest or family relationship. If abused, non -arms-length transactions misrepresent the true cost of the project. 2. Commitment of all project sources of financing. The recipient should review all projected sources of financing necessary to carry out the economic development project. This is to ensure that time and effort is not wasted on assessing a proposal that is not able to proceed. To the extent practicable, prior to the commitment of CDBG funds to the project, the recipient should verify that: sufficient sources of funds have been identified to finance the project; all participating parties providing those funds have affirmed their intention to make the funds available; and the participating parties have the financial capacity to provide the funds. 3. Avoid substitution of CDBG funds for non-Federal financial support. i. The recipient should review the economic development project to ensure that, to the extent practicable, CDBG funds will not be used to substantially reduce the amount of non-Federal financial support for the activity. This will help the recipient to make the most efficient use of its CDBG funds for economic development. To reach this determination, the recipient's reviewer would conduct a financial underwriting analysis of the project, including reviews of appropriate projections of revenues, expenses, d ebt service and returns on equity investments in the project. The extent of this review should be appropriate for the size and complexity of the project and should use industry standards for similar projects, taking into account the unique factors of the p roject such as risk and location. ii. Because of the high cost of underwriting and processing loans, many private financial lenders do not finance commercial projects that are less than $100,000. A recipient should familiarize itself with the lending practices of the financial institutions in its community. If the project's total cost is one that would normally fall within the range that financial institutions participate, then the recipient should normally determine the following: A. Private debt financing—whether or not the participating private, for-profit business (or other entity having an equity interest) has applied for private debt financing from a commercial lending institution and whether that institution has completed all of its financial underwriting and loan approval actions resulting in either a firm commitment of its funds or a decision not to participate in the project; and B. Equity participation—whether or not the degree of equity participation is reasonable given general industry standards for rates of return on equity for similar projects with similar risks and given the financial capacity of the entrepreneur(s) to make additional financial investments. 8 iii. If the recipient is assisting a microenterprise owned by a low- or moderate-income person(s), in conducting its review under this paragraph, the recipient might only need to determine that non -Federal sources of financing are not available (at terms appropriate for such financing) in the community to serve the low- or moderate-income entrepreneur. 4. Financial feasibility of the project. i. The public benefit a grantee expects to derive from the CDBG assisted project (the subject of separate regulatory standards) will not materialize if the project is not financially feasible. To determine if there is a reasonable chance for the project's success, the recipient should evaluate the financial viability of the project. A project would be considered financially viable if all of the assumptions about the project's market share, sales levels, growth potential, projections of revenue, project expenses and debt service (including repayment of the CDBG assistance if appropriate) were determined to be realistic and met the project's break-even point (which is generally the point at which all revenues are equal to all expenses). Generally speaking, an economic development project that does not reach this break-even point over time is not financially feasible. The following should be noted in this regard: Code of Federal Regulations / Title 24 - Housing and Urban Development / Vol. 3 / 2012-04-01176 A. some projects make provisions for a negative cash flow in the early years of the project while space is being leased up or sales volume built up, but the project's projections should take thes e factors into account and provide sources of financing for such negative cash flow; and B. it is expected that a financially viable project will also project sufficient revenues to provide a reasonable return on equity investment. The recipient should ca refully examine any project that is not economically able to provide a reasonable return on equity investment. Under such circumstances, a business may be overstating its real equity investment (actual costs of the project may be overstated as well), or it may be overstating some of the project's operating expenses in the expectation that the difference will be taken out as profits, or the business may be overly pessimistic in its market share and revenue projections and has downplayed its profits. ii. In addition to the financial underwriting reviews carried out earlier, the recipient should evaluate the experience and capacity of the assisted business owners to manage an assisted business to achieve the projections. Based upon its analysis of these factors, the recipient should identify those elements, if any, that pose the greatest risks contributing to the project's lack of financial feasibility. 5. Return on equity investment. To the extent practicable, the CDBG assisted activity should provide not more than a reasonable return on investment to the owner of the assisted activity. This will help ensure that the grantee is able to maximize the use of its CDBG funds for its economic development objectives. However, care should also be taken to avoid the situation where the owner is likely to receive too small a return on his/her investment, so that his/her motivation remains high to pursue the business with vigor. The amount, type and terms of the CDBG assistance should be adjusted to allow the owner a reas onable return on his/her investment given industry rates of return for that investment, local conditions and the risk of the project. 6. Disbursement of CDBG funds on a pro rata basis. To the extent practicable, CDBG funds used to finance economic development activities should be disbursed on a pro rata basis with other funding sources. Recipients should be guided by the principle of not placing CDBG funds at significantly greater risk than non-CDBG funds. This will help avoid the situation where it is learned that a problem has 9 developed that will block the completion of the project, even though all or most of the CDBG funds going in to the project have already been expended. When this happens, a recipient may be put in a position of having to provide additional financing to complete the project or watch the potential loss of its funds if the project is not able to be completed. When the recipient determines that it is not practicable to disburse CDBG funds on a pro rata basis, the recipient should consider taking other steps to safeguard CDBG funds in the event of a default, such as insisting on securitizing assets of the project. City Hall 1101 Texas Ave College Station, TX 77840 College Station, TX Legislation Details (With Text) File #: Version:116-0076 Name:Compensation Strategy and Work Status:Type:Presentation Agenda Ready File created:In control:2/2/2016 City Council Workshop On agenda:Final action:2/11/2016 Title:Presentation, possible action, and discussion regarding an update of compensation strategy and work. Sponsors:Kelly Templin Indexes: Code sections: Attachments: Action ByDate Action ResultVer. Presentation, possible action, and discussion regarding an update of compensation strategy and work. Relationship to Strategic Goals: ·Fiscal Responsibility Recommendation(s): Council Receive Presentation Summary: The City Manager and Team has been working with the Human Resources Director to review market data, look at compensation stragtegy and define future priorities for attract, retain and engaging high performing employees. Budget & Financial Summary: Budget Approved Attachments: To be determined College Station, TX Printed on 2/5/2016Page 1 of 1 powered by Legistar™