New Braunfels City Council approved a two-year Generator incubator amendment on Nov. 9 for about $750,000. The verified council outcome says the city will review the agreement after two years, and a third year requires both sides to agree.
That sets a public commitment for the first two years and a decision point before any third year. The amendment changes the term and price that staff had brought forward; it does not itself establish that the program has produced jobs or new companies.
From the source record
Item B: Council approved an amendment to the Generator incubator agreement.New Braunfels City Council verified Nov. 9 outcome ↗
What staff originally proposed
Before the vote, the staff proposal called for three years at $375,000 annually, or about $1.13 million in total. The proposed agreement allowed reductions tied to complimentary office space and an investment by the New Braunfels Economic Development Foundation. Those figures describe the proposal council amended, rather than a separate approval of its original three-year term.
The staff's proposed service package included two gBETA cohorts annually, a full-time local employee and quarterly events. It also described Lunch & Learn sessions and a showcase for program graduates. The proposal shows what staff sought to buy for entrepreneurs; the executed amendment will establish which of those service terms govern the approved two-year deal.
The next check on the spending
The agreement is to be reviewed after two years, and a third year requires both sides to agree. Residents can inspect the city’s original Generator proposal now; the executed amended agreement is the next record needed to check the payment schedule, final deliverables and review terms.