[{"_1":2,"_111":-5,"_112":-5},"loaderData",{"_3":4,"_26":27},"root",{"_5":6,"_17":10,"_18":19,"_20":21,"_22":10,"_23":-5,"_24":-5,"_25":10},"user",{"_7":8,"_9":10,"_11":10,"_12":-5,"_13":-5,"_14":15,"_16":-5},"roles",[],"isAuthenticated",false,"isPremium","planName","subscriptionStatus","featureFlags",{},"insightsBudget","isDevelopmentHost","userPreferences",{},"recaptchaSiteKey","6LcvOJcUAAAAAHsB-gPGfGktcRlKpH7OTIU_dMTD","isImpersonating","impersonation","affiliateStatus","isFreedomPortal","routes/v2/article/layout",{"_28":29,"_30":31},"notFound",true,"relatedArticles",[32,75,87,99],{"_33":34,"_35":36,"_37":38,"_39":40,"_41":42,"_43":44,"_45":46,"_47":48,"_49":50,"_51":52,"_53":54,"_55":56,"_57":58,"_59":60,"_61":62,"_63":64,"_65":66,"_67":68,"_69":70,"_71":68,"_72":73,"_74":73},"mediaId",6044490,"mediaKeyId","3613351-a3bc4eb35498913bc2a073674a2b9342","parentId",3613351,"title","EIC staff report progress on bond-funded projects and outline bond cash, investments and arbitrage exposure","audioSeconds",1848,"startMs",7352000,"endMs",9200000,"viewUrl","/Search/View?dp=1&key=3613351-a3bc4eb35498913bc2a073674a2b9342&start=7352&end=9200","thumbnailUrl","https://assets.pipeline.soar.com/3613351-a3bc4eb35498913bc2a073674a2b9342/thumbnail_7352000.jpg","articleUrl","/articles/6044490/Kerrville/Kerr-County/Texas/EIC-staff-report-progress-on-bond-funded-projects-and-outline-bond-cash-investments-and-arbitrage-exposure","mediaUrl","https://secure.pipeline.soar.com/6044490-ef6eb52045fb7e462b1275ef9cad96cd/orig.mp4?Expires=1770764640&Signature=Z6T6rsofBJO2p7ecIrf5WVuZVKIJlPUwx3w2bWcm7whfCpsIDgd7mjom3tXmBaGHhTKXb5unN9MUqwG~PW0Hmi7J55AdGtdJMkNMFmjfE7dxB2vdzi03bNi5IzLGj0UlnHY084qdb36TbZG9tnVyducfopYNbDadei8mqEJzM4k-THLW4LLzREnpVmqdWTnCvUILZ2ETsKpcb9A8WoRNgYbpbO~P8tNRPzXebqWFH-fvOMSEv7-Gey6RqXGHlCMbDC-G6FnCBUWictD1jglevYE~fa7gssBfTA7RCcyokyyddMjYu3MIcfQNfiLrpqlWYToqgk-BVWJea40bLeBz5w__&Key-Pair-Id=KUT5TJCACFTXG","author","City of Kerrville - Government","date","2025-02-19T15:03:02Z","article","EIC staff gave the board a consolidated update on Quality of Life bond projects and a finance briefing on bond proceeds, investments and projected cash flows.

Project updates: Staff reported construction timelines and milestones for the Calla (Calla/Playhouse) Theater renovation, the Olympic-style pool, Scour Runner golf-course renovations (greens, tee boxes and bridge work), the A.C. Schreiner House restoration and park play-structure replacements at KSP and Guadalupe Park. The Calla Theater contract was set to start in early March with an estimated completion window by the end of August 2025; staff said the Eddington (sic) Gym and the A.C. Schreiner House renovation work is underway with anticipated practical completion later in the year.

Staff said the golf-course work (estimated about $3.5 million across greens, tee work, bridges and site improvements) is in active construction; the bridge contract is roughly $500,000 and work is in progress. The Olympic Pool design had reached 50% drawings; staff planned a mid-March bid date and expected to return to council with a contract award in May, with an approximate 50-week construction schedule.

Granger McDonald boating-access planning and grant work was discussed; staff noted the planning grant requires U.S. Fish & Wildlife review and that the construction grant timeline depends on that federal review.

On housing and development, staff reiterated comments raised earlier by James Avery: local housing supply and affordability remain constraints on recruiting and retaining a workforce. Habitat for Humanity’s infrastructure work was reported as moving forward and the group expected to be substantially complete by June; staff said reimbursement scheduling for Habitat would require a grant agreement amendment if the EIC opts to release funds earlier than the current two-fiscal-year reimbursement plan.

Financial update: Finance staff reported the EIC’s bond proceeds account holds approximately $17.9 million with about $18.0 million net available for projects after obligations and an arbitrage liability estimate of roughly $302,000 booked against earnings. Staff explained that arbitrage rules can trigger a calculated liability when investment earnings on bond proceeds exceed the interest cost on the bonds; that liability is typically measured and paid on a multi-year schedule.

Staff also described existing short-term investments that mature in upcoming months and said the board’s cash-flow forecasts will account for maturing investments and projected project draws; staff projected a year-end operating cash balance for EIC operations (excluding bond funds) and noted the board retains options on how aggressively to reinvest bond earnings versus keeping additional liquidity for projects.

Board members requested a separate multi-year operational cash forecast (excluding bond proceeds) to better evaluate long-term commitments such as the proposed economic development manager funding request.

","mediaType","Video","parentTitle","Economic Improvement Corporation Meeting - February 18, 2025","oneSentenceSummary","Staff updated the board on Quality of Life bond projects (theater, pool, golf-course, A.C. Schreiner House, parks) and provided a financial briefing on bond proceeds, investment earnings and an arbitrage calculation; project timelines, estimated savings and reimbursement timing were discussed.","taxTitle","Kerrville, Kerr County, Texas","taxId",54244,"location","headline","","shortSummary",{"_33":76,"_35":36,"_37":38,"_39":77,"_41":78,"_43":79,"_45":80,"_47":81,"_49":82,"_51":83,"_53":84,"_55":56,"_57":58,"_59":85,"_61":62,"_63":64,"_65":86,"_67":68,"_69":70,"_71":68,"_72":73,"_74":73},6044495,"EIC moves to close James Avery incentive agreement after executive session; board says company met terms",2547,4756000,7303000,"/Search/View?dp=1&key=3613351-a3bc4eb35498913bc2a073674a2b9342&start=4756&end=7303","https://assets.pipeline.soar.com/3613351-a3bc4eb35498913bc2a073674a2b9342/thumbnail_4756000.jpg","/articles/6044495/Kerrville/Kerr-County/Texas/EIC-moves-to-close-James-Avery-incentive-agreement-after-executive-session-board-says-company-met-terms","https://secure.pipeline.soar.com/6044495-0a2ba51756f296324eb15c0472b122ee/orig.mp4?Expires=1770764640&Signature=PJVV7J4uEo7wONHW7nUAG-YBaLWV443MVOo-LSgcM6zua~92h2NJ4923Uc6f9kK5FmkMgqRCKo5~1dwwjixw5l20d3tg~rKH6p4pnBoQ1eabUAJ1OifMU-DQd~9IeXZcsezg2jVdwC8dzwKGpu-u1Fxb~K2rL5B-gb5sS5579tudlaqi6fio2VQyEMDTXV3PcmPIgFamEfoo~hAyDNBXEoKg5l-dSmRRnJmJ-t1hh7vPoIsOVjlSU9bLAt~9XVyYtaFyV3~MsBfxCfIf65M9~H9hg-pFH8Q88X18lMEmdAiRHZgUNmrr~r3tO-haLkgLiqH9TeUQYCIjvVdzKNwNRQ__&Key-Pair-Id=KUT5TJCACFTXG","The Kerrville Economic Improvement Corporation voted in open session following an executive session to conclude that James Avery has met the terms of its incentive agreement and that the agreement is satisfied and closed.

James Avery executives described how the company and its workforce were affected by the COVID-19 period, noting temporary shutdowns, exceptional turnover and a later rebalancing of operations. Company representatives said the original 2015 agreement and a 2021 amendment were negotiated before the pandemic and that the business experienced a significant disruption to its hiring and production cadence when operations slowed and then demand surged.

Company presenters reported historical and recent employment numbers during the public briefing: 388 employees were reported in 2015 under the original agreement; the company reported about 330 employees in the prior year and supplied a figure of 212 in its most recent annual submission. James Avery executives said wage and benefit growth means a smaller number of higher-paid positions can represent comparable economic impact; one presenter noted that payroll increases amount to wage levels “well up over 70% of the target that was in the original agreement.” The company also described more than $10,000,000 in capital investment and additional facility investments, including a separate investment in Corpus Christi.

City staff said the original contract term concluded and the board met in executive session to discuss whether to trigger contractual clawbacks or to accept the company’s reported performance and investments. After returning to open session, a board member moved that the EIC “agree that James Avery has met the terms of their contract and the contract is satisfied and closed terminated.” The motion was seconded and approved by the board by show of hands; the meeting record did not include a roll-call vote or a detailed roll-call tally in the public transcript.

EIC staff and company leaders thanked one another for the partnership; company leaders said they remain committed to locally based operations and noted planned, modest headcount additions in 2025 tied to manufacturing and corporate positions.

","After a closed session, the EIC board voted that James Avery met the terms of its incentive agreement. Company and staff recapped employment impacts, capital investments and pandemic-era disruptions; the board adopted a motion that the contract is satisfied and terminated.",{"_33":88,"_35":36,"_37":38,"_39":89,"_41":90,"_43":91,"_45":92,"_47":93,"_49":94,"_51":95,"_53":96,"_55":56,"_57":58,"_59":97,"_61":62,"_63":64,"_65":98,"_67":68,"_69":70,"_71":68,"_72":73,"_74":73},6044500,"Kerrville staff seek EIC support for city economic development manager; board requests more details and timing",2623,857000,3480000,"/Search/View?dp=1&key=3613351-a3bc4eb35498913bc2a073674a2b9342&start=857&end=3480","https://assets.pipeline.soar.com/3613351-a3bc4eb35498913bc2a073674a2b9342/thumbnail_857000.jpg","/articles/6044500/Kerrville/Kerr-County/Texas/Kerrville-staff-seek-EIC-support-for-city-economic-development-manager-board-requests-more-details-and-timing","https://secure.pipeline.soar.com/6044500-880365ad6da83a661341354bf5ab4ab6/orig.mp4?Expires=1770764640&Signature=USWSQQhpO9KcuW0eAXqdGsInrUBAoAye0gA0YVe-ZxNustOJZAhuiuyGk8pa0F1YMEQaisG8imlRUZK0lAGRnaM762jmwA2UxNg8rjqqHVldNzgRnNtBgZdkv6JMK8PWNwqNM7rNIdfYSYhazjWCpskps0syfg3uqB-J6ub8CpQwOB-0mCisM69DgQjUrWksQsQuZrnIVJUIf2nlF5RbiNFKFRtkr0-05PmOhfxvq6VpryVjh0KHqPmwrCpNoiNUJQTznf3rwAyHYkhsfAqX~WR1fNpI9V2yf~c7AA6e5OakNNIqOFScQ2TbPenY4hjyg1Xc2yamlCphXzl3sHRfew__&Key-Pair-Id=KUT5TJCACFTXG","City of Kerrville staff asked the Economic Improvement Corporation on Feb. 1 to consider funding a new economic development manager position that would be housed in the city organization and focus on retail and small-business engagement.

City Manager Dalton Rice told the EIC board the role is intended to fill a gap between community development activities the city already does and the larger, primary-job focus of the Kerrville Economic Development Corporation (KEDC). “This is trying to offset and do something different that we’re trying to focus on with city council,” Rice said, describing the role as “relationships and collaboration” with small businesses and Main Street merchants.

Rice requested approximately $120,000 a year to cover salary and benefits and asked that the EIC fund that amount on top of existing KEDC funding rather than reduce KEDC’s current allocation. Rice said the city would reallocate some EDC-related operational tasks in-kind and pursue internal resources to lessen the cash burden.

Several board members raised concerns about timing, annual ongoing commitments and oversight. Greg (stated as a banker on the record) and other board members said EIC already has multiple long-term commitments tied to the 2023 quality-of-life bonds and that committing a new ongoing payroll expense during several tight fiscal years would constrain grantmaking and other activities.

Board members asked for a clearer, next-year KEDC budget and what KEDC’s future staffing model will look like before agreeing to new funding. Several members suggested the board should see metrics that define success for the proposed position, for example measurable business retention/expansion activity, recruitment outcomes, incremental sales-tax growth or downtown occupancy measures.

Todd Bach, interim executive director for the KEDC, said the KEDC board is in transition, that recent staff turnover left open questions about the organization’s size and mission, and that the EDC has active projects in process despite the transition. Bach said the KEDC hoped to return a formal strategic recommendation to stakeholders in March.

Board members discussed options including funding half the request, funding the full amount only after KEDC stakeholders confirm their budgets, reassigning the current KEDC manager’s responsibilities, or waiting until the EDC and KEDC present a joint staffing and budget plan. No formal funding vote was taken; a board member recommended tabling the request and asking staff to return with a) a revised KEDC budget that shows proposed staffing and costs and b) concrete measurable benchmarks for the city position.

Next steps recorded during the meeting included city staff outreach to stakeholder boards (county commissioners and KPUB were specifically mentioned) and a request from EIC members for the KEDC board’s near-term budget and a clear set of performance metrics before the EIC considers committing new ongoing funds.

","City Manager Dalton Rice asked the EIC board to help fund a proposed economic development manager position to focus on retail and small-business engagement; board members raised budget, oversight and timing concerns and directed staff to return with a clearer KEDC budget and defined performance metrics.",{"_33":100,"_35":36,"_37":38,"_39":101,"_41":102,"_43":103,"_45":104,"_47":105,"_49":106,"_51":107,"_53":108,"_55":56,"_57":58,"_59":109,"_61":62,"_63":64,"_65":110,"_67":68,"_69":70,"_71":68,"_72":73,"_74":73},6044505,"Schreiner University outlines new workforce programs and reports Eddington Gym renovations underway",360,366000,726000,"/Search/View?dp=1&key=3613351-a3bc4eb35498913bc2a073674a2b9342&start=366&end=726","https://assets.pipeline.soar.com/3613351-a3bc4eb35498913bc2a073674a2b9342/thumbnail_366000.jpg","/articles/6044505/Kerrville/Kerr-County/Texas/Schreiner-University-outlines-new-workforce-programs-and-reports-Eddington-Gym-renovations-underway","https://secure.pipeline.soar.com/6044505-ef87bc57eed089dde81682f8b7c92eca/orig.mp4?Expires=1770764640&Signature=E3WyW01GT45n3dT8JbTUDqmZMuXhPxYWvwGKvOXKc2OTdycqFerqA4GYj6JkFa~AxVUr8KdptdQQQ2fmSblhulK6YBJAYVZF3V0W8txblT8TQ1kyKXfpbccXGsmf7KlBlzAdsZGBMlUpDKOfv0g99b~4y~BDmVbt1wWtCQd-WhzAGc0C4SUDxvr8m9ec3e7XNhLSuIRBuwKu~IVEOo501ScS7wn32vNC6ClZ-S~jeKUD4Hdrjz-r0VXnpfPGisnE-NgB3EwZZ5cvG94MjCSg8319XUMbtqAqkNJdhSWwqdDeGyJpKXdS~SkT7s6tunXUiHljrCVwvUkrcDvBzV3aIA__&Key-Pair-Id=KUT5TJCACFTXG","Schreiner University representatives told the Kerrville Economic Improvement Corporation on Feb. 1 that the university’s new Center for Talent and Workforce Development is enrolling students and that renovations to the Eddington Gym are progressing on schedule and under budget.

The university presented enrollment and program details and an independent economic-impact estimate to illustrate local benefits. The center — called CTWD — is recruiting for short-term certifications, vocational nursing and several technical pathways that officials say are aligned with Hill Country employer needs.

Lucian Costly, representing Schreiner University, said the Eddington Gym work is “on target in terms of our timeline and presently we’re under budget.” He asked board members to visit the campus to see construction progress and referenced a 2024 economic-impact study prepared by the Independent Colleges and Universities of Texas showing the university’s regional spending impacts.

Ben Winn, director of the Center for Talent and Workforce Development, said CTWD launched in September 2024 and is focused on nontraditional students and short-course pathways. “In our first year, we are on track to recruit 85 students with 55 students already signed up,” Winn said. He reported that 35 of those students are in health-care programs and 20 are in the vocational nursing (LVN) pathway. Winn added that 45 of CTWD’s students are from the Hill Country region.

Winn described “about 10 different pathways” in health-care certificates (surgical tech, phlebotomy, clinical medical assistant), new business/management certificates (HR, bookkeeping, project management), and IT pathways (network and security technicians). He said the center is developing additional programs such as mechatronics and real-estate licensing, and that CTWD works with local employers and the Texas Workforce Commission to align training with jobs.

Costly summarized the university’s recent independent economic-impact figures, saying Schreiner had $47,000,000 in direct spending and $16,000,000 in employee spending, with total regional impact estimated at roughly $81,000,000 in 2024. He said capital spending tied to renovation projects will increase next year’s impact.

Board members asked whether CTWD participants must be full-time Schr(e)iner students; Winn replied that CTWD is primarily designed for nontraditional students and does not require full-time enrollment in the university. The board thanked the presenters and had no action items tied to the update.

The university representatives said they will continue to provide monthly updates to the board on CTWD recruitment, program launches and Eddington Gym construction milestones.

","University officials told the EIC board that a new Center for Talent and Workforce Development is enrolling students and that the Eddington Gym renovation is on time and under budget; speakers gave enrollment figures, program pathways and an economic-impact summary.","actionData","errors"]

Article not found

EIC staff report progress on bond-funded projects and outline bond cash, investments and arbitrage exposure

EIC moves to close James Avery incentive agreement after executive session; board says company met terms

Kerrville staff seek EIC support for city economic development manager; board requests more details and timing

Schreiner University outlines new workforce programs and reports Eddington Gym renovations underway