08-21-2024 (WEDC) Agenda PacketWylie Economic Development Corporation
Board Regular Meeting
August 21, 2024 — 7:30 AM
WEDC Office Conference Room - 250 South Highway 78, Wylie, Texas
75098
CALL TO ORDER
INVOCATION & PLEDGE OF ALLEGIANCE
WYLIEEDC
COMMENTS ON NON -AGENDA ITEMS
Any member of the public may address Board regarding an item that is not listed on the Agenda. Members of the public must
fill out a form prior to the meeting in order to speak. Board requests that comments be limited to three minutes for an individual,
six minutes for a group. In addition, Board is not allowed to converse, deliberate or take action on any matter presented during
citizen participation.
CONSENT AGENDA
All matters listed under the Consent Agenda are considered to be routine by the Board and will be enacted by one motion.
There will not be separate discussion of these items. If discussion is desired, that item will be removed from the Consent Agenda
and will be considered separately.
A. Consider and act upon approval of Minutes from the July 17, 2024 Regular Meeting of the WEDC Board of
Directors.
B. Consider and act upon approval of the July 2024 WEDC Treasurer's Report.
REGULAR AGENDA
1. Consider and act upon a Fifth Amendment to the Purchase and Sale Agreement between the WEDC and
McClure Partners Construction Company.
17S.YYliI.Y.Y[I7�i Y Y �1► i.`�
DS1. Discussion regarding future WEDC Board Retreats/Work Sessions.
DS2. Discussion surrounding WEDC Credit Cards.
DS3. Staff report: WEDC Property Update, Temporary Access Agreements, Downtown Parking, Engineering
Report, Upcoming Events, and WEDC Activities/Programs.
EXECUTIVE SESSION
Sec. 551.072. DELIBERATION REGARDING REAL PROPERTY; CLOSED MEETING.
A governmental body may conduct a closed meeting to deliberate the purchase, exchange, lease, or value of real
property if deliberation in an open meeting would have a detrimental effect on its negotiating position.
age 11
1
ES1. Consider the sale or acquisition of properties located at Brown/Eubanks, FM 544/Cooper, FM 544/Sanden,
Jackson/Oak, Regency/Steel, and State Hwy 78/Brown.
See. 551.087. DELIBERATION REGARDING ECONOMIC DEVELOPMENT NEGOTIATIONS;
CLOSED MEETING.
This chapter does not require a governmental body to conduct an open meeting:
(1) to discuss or deliberate regarding commercial or financial information that the governmental body has received
from a business prospect that the governmental body seeks to have locate, stay, or expand in or near the territory of
the governmental body and with which the governmental body is conducting economic development negotiations;
or
(2) to deliberate the offer of a financial or other incentive to a business prospect described by Subdivision (1).
ES2. Deliberation regarding commercial or financial information that the WEDC has received from a business
prospect and to discuss the offer of incentives for Projects: 2022-1c, 2022-10c, 2023-1c, 2023-2d, 2023-5c,
2023-9b, 2023-1lb, 2024-1c, 2024-2d, 2024-4c, 2024-4e, 2024-5a, 2024-5c, 2024-6c, 2024-7a, 2024-7b,
2024-7d, 2024-7e, and 2024-7f.
RECONVENE INTO OPEN SESSION
Take any action as a result from Executive Session.
FUTURE AGENDA ITEMS
ADJOURNMENT
CERTIFICATION
I certify that this Notice of Meeting was posted on August 16, 2024 at 5:00 p.m. on the outside bulletin board at
Wylie City Hall, 300 Country Club Road, Building 100, Wylie, Texas, a place convenient and readily accessible to
the public at all times.
Stephanie Storm, City Secretary Date.Notice Removed
The Wylie Municipal Complex is wheelchair accessible. Sign interpretation or other special assistance for disabled
attendees must be requested 48 hours in advance by contacting the City Secretary's Office at 972.516.6020. Hearing
impaired devices are available from the City Secretary prior to each meeting.
If during the course of the meeting covered by this notice, the Board should determine that a closed or executive
meeting or session of the Board or a consultation with the attorney for the City should be held or is required, then
such closed or executive meeting or session or consultation with attorney as authorized by the Texas Open. Meetings
Act, Texas Government Code § 551.001 et. seq., will be held by the Board at the date, hour and place given in this
notice as the Board may conveniently meet in such closed or executive meeting or session or consult with the
attorney for the City concerning any and all subjects and for any and all purposes permitted by the Act, including,
but not limited to, the following sanctions and purposes:
Texas Government Code Section:
§ 551.071— Private consultation with an attorney for the City.
§ 551.072 — Discussing purchase, exchange, lease or value of real property.
2
§ 551.073 — Discussing prospective gift or donation to the City.
§ 551.074 — Discussing personnel or to hear complaints against personnel.
§ 551.076 — Discussing deployment of security personnel or devices or security audit.
§ 551.087 — Discussing certain economic development matters.
3
0812112024 Item A.
Minutes
Wylie Economic Development Corporation
Board of Directors Regular Meeting
July 17, 2024 — 7:30 A.M.
WEDC Offices — Conference Room
250 S Hwy 78 — Wylie, TX 75098
CALL TO ORDER
Announce the presence of a Quorum
President Melisa Whitehead called the meeting to order at 7:31 a.m. Board Members present were Blake
Brininstool, Whitney McDougall, and Harold Smith.
Ex-Officio Members Mayor Matthew Porter and City Manager Brent Parker were present.
WEDC staff present included Executive Director Jason Greiner, Assistant Director Rachael Hermes, BRE
Director Angel Wygant, Administrative Assistant Marissa Butts, Office Manager Christy Stewart and
Marketing & Communications Coordinator Will Kelly.
INVOCATION & PLEDGE OF ALLEGIANCE
Angel Wygant gave the invocation and led the Pledge of Allegiance.
COMMENTS ON NON -AGENDA ITEMS
With no citizen participation, President Whitehead moved to Consent Agenda.
CONSENT AGENDA
All matters listed under the Consent Agenda are considered to be routine by the WEDC Board of Directors
and will be enacted by one motion. There will not be a separate discussion of these items. If discussion is
desired, that item will be removed from the Consent Agenda and will be considered separately.
A. Consider and act upon approval of Minutes from June 19, 2024, Regular Meeting of the
WEDC Board of Directors.
B. Consider and act upon approval of the June 2024 WEDC Treasurer's Report.
Board Action
A motion was made by Blake Brininstool, seconded by Whitney McDougall, to approve the
Consent Agenda as presented. A vote was taken, and the motion passed 4-0.
11tiXot"WERNRIX"M LOU,
1. Consider and act upon the approval of the FY 2024-2025 WEDC Budget.
Staff Comments
Staff provided an overview of the FY 2024-2025 WEDC Budget to the Board and noted that the
same will be presented to the City Council on 7/23/24. Staff highlighted estimates of $17.5 MM in
available resources including an $8.3 MM beginning fund balance. Sales tax revenue is estimated to
be $4.9 MM, which is a 10% increase. Staff anticipates $4.1 MM in revenue from the sale of EDC
0
0812112024 Item A.
WEDC — Minutes
July 17, 2024
Page 2 of 3
properties. Personnel Services expenses are up from $629,900 to $666,499. Incentives are down from
$1.9MM to $1.7MM. Debt services will remain the same at $1.2 MM, due to not being able to pay
down the principal on the loans for the first 5 years. Special Services/Misc is up from $37k to $87k
due to contractual services. Special Services/Real Estate is down from $234k to $71k due to the
completion of demolition projects in FY24. Special Services/Infrastructure is down from $10.3MM
to $9MM. Travel and Training is up from $73k to $95k due to Wylie Days in Austin and additional
training for the new staff members. Dues and Subscriptions are up from $60k to $91k due to new
technology and data/analysis tools. Audit and Legal is up $30k due to increased legal fees, with staff
noting that the proposed budgeted amount is now back to the amount budgeted in previous years.
Engineering Services is up from $530k to $855k, $300k of which includes civil design for the City's
19 acres on FM 544. Staff estimates a FY25 ending fund balance of $2.3 MM.
DISCUSSION ITEMS
DSl. Staff report: WEDC Property Update, Temporary Access Agreements, Downtown Parking,
Engineering Report, Upcoming Events, and WEDC Activities/Programs.
Staff Comments
Staff referred the Board to the Agenda Report provided in the packet for all updates related to WEDC
Property Update, Temporary Access Agreements, Downtown Parking, Engineering Report,
Upcoming Events, and WEDC Activities/Programs. Regarding property updates, Staff noted that
104 S Ballard was demolished on July 12" and staff will be working with the City to ensure that the
lot will be irrigated and well -kept, as it will be connected to the city park for now. Several leads for
this property have already been received due to the EDC's efforts to redevelop this site and will be
presented to the Board as they develop. Staff and the Board reviewed availability and participation
in upcoming events.
EXECUTIVE SESSION
Recessed into Closed Session at 8:00 a.m. in compliance with Section 551.001, et. seq. Texas Government
Code, to wit:
f.` MMKIIFh 179101:301711Y[I1►i.711K.17111►[1i 7W.11A9019D11114&we KIM017►/10iByY1► "
ESl. Consider the sale or acquisition of properties located at Brown/Eubanks, FM 544/Cooper,
FM 544/Sanden, Jackson/Oak, Regency/Steel, and State Hwy 78/Brown.
Sec. 551.074. PERSONNEL MATTERS; CLOSED MEETING.
I: 101 7 WE 7 . 71 ,0,75 _ 11 OLVA
go ,90 1 OM
1 U
ES2. Deliberation regarding commercial or financial information that the WEDC has received
from a business prospect and to discuss the offer of incentives for Projects: 2022-1c, 2022-
10c, 2023-1c, 2023-2d, 2023-5c, 2023-9b, 2023-11b, 2024-1c, 2024-2d, 2024-4c, 2024-4e, and
2024-5a.
RECONVENE INTO OPEN SESSION
Take any action as a result of the Executive Session.
5]
0812112024 Item A.
WEDC — Minutes
July 17, 2024
Page 3 of 3
President Whitehead reconvened into Open Session at 8:45 a.m. and then moved to consider and take action
on Regular Agenda Item 1.
1. Consider and act upon the approval of the FY 2024-2025 WEDC Budget.
Board Action
A motion was made by Blake Brininstool, seconded by Whitney McDougall, to approve the FY
2024-2025 WEDC Budget. A vote was taken, and the motion passed 4-0.
FUTURE AGENDA ITEMS
The Board requested that discussion regarding a Board Retreat be added to a future WEDC Board Meeting.
ADJOURNMENT
With no further business, President Whitehead adjourned the WEDC Board meeting at 8:46 a.m.
Melisa Whitehead, President
ATTEST:
Jason Greiner, Executive Director
6]
0812112024 Item B.
WYLIEEDC
Meeting Date:
Prepared By:
August 21, 2024
Jason Greiner
Wylie Economic Development
Item Number: B
Consider and act upon approval of the July 2024 WEDC Treasurer's Report.
Motion to approve the July 2024 WEDC Treasurer's Report.
Presented for the Board's review and approval is the July 2024 Treasurer's Report detailing the month and year-to-date
financial transactions and performance against budget. In this report, you will find the Revenue and Expense Report,
Statement of Net Position, Balance Sheet, Sales Tax Report, and Performance Agreement Summary.
REVENUES:
Sales Tax Revenue earned in May allocated in July, was $374,225.20, a decrease of 1.30% over the same period in 2023.
EXPENSES:
Incentives
$23,000 American Entitlements, LLC (Incentive 2 of 4)
$20,000 North Dallas Wylie Land Investments (Incentive 4 of 4)
Special Services -Real Estate
$89,200 Intercon Demolition Company (Demo 300 N 2"d, 305 & 701 S Ballard, 711 S. Cooper, etc.)
Special Services -Infrastructure
$154,344.60 Reeder Concrete (Hwy 78 & Brown TxDOT Improvements, Pay #1)
$55,445.22 Tiseo Paving (FM 544 Gateway Project, Est #1)
Engineering/Architectural
$30,493.70 Kimley-Horn & Associates, Inc (General Engineering)
Page 1 of 1
0812112024 Item B.
July Rev/Exp Report
Account Summary
For Fiscal: 2023-2024 Period Ending: 07/31/2024
Variance
Original
Current
Period
Fiscal
Favorable
Percent
Total Budget
Total Budget
Activity
Activity
(Unfavorable)
Remaining
Fund: 111 - WYLIE ECONOMIC DEVEL CORP
Revenue
Category: 400 - Taxes
111-4000-40210
SALES TAX
4,536,561.00
4,536,561.00
374,225.19
3,154,111.46
-1,382,449.54
30.47 %
Category: 400 - Taxes Total:
4,536,561.00
4,536,561.00
374,225.19
3,154,111.46
-1,382,449.54
30.47%
Category: 460 - Interest Income
111 4000,461.10
ALLOCATED INTEREST EARNINGS _.........
112,000.00 _
112,000.00 .................
45,750.43
439,693.50
___............327,6
327,693.50
_3.
392.58 %
_.58%
Category: 460 - Interest Income Total:
112,000.00
112,000.00_m
0.43
45,750.43
9,69_.5
439,693.50
327,693.50
292.58%
Category: 480 - Miscellaneous Income
111 4000-481.10
RENTAL INCOME
48,600.00
48,600.00
400.00
30,380.65
-18,219.35
37.49 %
1114000484113
MISCELLANEOUS INCOME
0.00
1,250.00
0.00
1,947.08
697.08
155.77 %
111.-4000-48430
GAIN/(LOSS) SALE OF CAP ASSETS
2,655,970.00
2,655,970.00
0.00
-223,384.36
-2,879,354.36
108.41 %
Category: 480 - Miscellaneous Income Total:
2,704,570.00�
2,705,820.00
400.00
191,056.63
2,896,876.63
107.06
Revenue Total:
...___ __ ___.�- _-
7,353,131.00
... -- .. rm
7,354,381.00
---------
420,375.62
3,402,748.33
-3,951,632.67
53.73%
Expense
Category: 510 - Personnel Services
111 5611 51110
SALARIES
440,500.00
460,570.00
33,505.99
328,361.77
132,208.23
28.71 %
111-561.1-51130
OVERTIME
0.00
0.00
0.00
871.40
-871.40
0.00 %
111 5611-51140
LONGEVITY PAY
1,200.00
1,200.00
0.00
1,092.00
108.00
9.00 %
111 561.1-51310
TMRS
68,500.00
71,611.00
4,883.43
47,899.90
23,711.10
33.11 %
111-5611-51410
HOSPITAL & LIFE INSURANCE
81,000.00
81,169.00
5,023.41
50,117.29
31,051.71
38.26 %
1.11-5611. 51420
LONG-TERM DISABILITY
1,600.00
1,714.00
62.47
538.41
1,175.59
68.59 %
1:11-56.11- 51440
FICA
27,000.00
28,245.00
1,909.17
18,991.93
9,253.07
32.76 %
1.11-5611-514 50
MEDICARE
6,400.00
6,691.00
446.50
4,441.68
2,249.32
33.62 %
111-5611-51470
WORKERS COMP PREMIUM
2,100.00
2,100.00
0.00
1,137.35
962.65
45.84 %
111-561.1. 51480
UNEMPLOYMENT COMP (TWC)
1,600.00
1,600.00
13.75
617.47
982.53
61.41 %
Category: 510 - Personnel Services Total:
629,900.00
654,900.00
45,844.72
__� __m..................
454,069.20
_--
200,830 ._.____�-�
.80
..m.
30.67%
Category: 520 - Supplies
111 5611 52010
OFFICE SUPPLIES
5,000.00
5,000.00
632.38
3,538.17
1,461.83
29.24 %
111-561.1-52040
POSTAGE & FREIGHT
300.00
300.00
0.00
194.70
105.30
35.10 %
1:11.-5G11-5231
FOOD SUPPLIES
3,000.00
3,000.00
362.28
2,624.39
375.61
12.52 %
Category: 520 - Supplies Total:
8,300.00
8,300.00
994.66
6,357.26
1,942.74
23.41% 3.41%
Category: 540 - Materials for Maintenance
111. 5611 54610
FURNITURE & FIXTURES
2,500.00
2,500.00
0.00
325.80
2,174.20
86.97 %
111-5611-54310
COMPUTER HARD/SOFTWARE
7,650.00 _..................._..._._-
7,650.00 _..............................._..._
0.00 _
2,299.98
m.. _
5,350.02 __......_
-------
69.93 %
.._ ._
Category: 540 - Materials for Maintenance Total:
10,150.00
10,150.00
0.00
2,625.78
7,524.22
74.13%
Category: 560 - Contractual Services
111. 5611 56030
INCENTIVES
1,929,250.00
1,929,250.00
43,000.00
1,111,000.00
818,250.00
42.41 %
1_11-5611-56040
SPECIALSERVICES
37,270.00
37,270.00
8,907.50
25,612.50
11,657.50
31.28%
1.11 5611-56041
SPECIAL SERVICES -REAL ESTATE
234,500.00
234,500.00
95,289.48
223,298.94
11,201.06
4.78 %
111-5611-56042
SPECIAL SERVICES-INFRASTRUCTUR
10,324,000.00
10,324,000.00
218,989.82
225,091.18
10,098,908.82
97.82 %
1.11-5611.-56080
ADVERTISING
226,125.00
196,125.00
5,067.00
98,631.91
97,493.09
49.71 %
111-5611-56090
COMMUNITY DEVELOPMENT
64,950.00
66,200.00
5,650.77
41,007.47
25,192.53
38.06 %
1.11-5611. 56110
COMMUNICATIONS
7,900.00
7,900.00
735.41
4,370.34
3,529.66
44.68 %
111-5611-561.110
RENTAL
27,000.00
27,000.00
0.00
20,250.00
6,750.00
25.00 %
1.11-5611-56210
TRAVEL & TRAINING
73,000.00
73,000.00
1,978.19
53,512.29
19,487.71
26.70 %
111-5611-56250
DUES & SUBSCRIPTIONS
60,733.00
60,733.00
1,391.08
59,244.19
1,488.81
2.45 %
111-56:11-56:310
INSURANCE
6,800.00
6,800.00
0.00
5,653.11
1,146.89
16.87 %
111 561,1-56510
AUDIT & LEGAL SERVICES
23,000.00
53,000.00
4,674.60
31,183.93
21,816.07
41.16 %
111 5611-56570
ENGINEERING/ARCHITECTURAL
530,175.00
530,175.00
40,095.90
412,779.82
117,395.18
22.14 %
8/16/2024 9:17` 11 AM Page i oL4
0812112024
Item B.
Budget Report
For Fiscal:
2023-2024 Period Ending:
Variance
Original
Current
Period
Fiscal
Favorable
Percent
Total Budget
Total Budget
Activity
Activity
(Unfavorable)
Remaining
1_.11 __611 5661.0 UTILITIES -ELECTRIC
2,400.00
2,400.00
221.89
1,752.15
647.85
26.99 %
Category: 560 - Contractual Services Total:
13,547,103.00
13,548,353.00
426,001.64
2,313,387.83
11,234,965.17
82.92%
Category: 570 - Debt Service & Capital Replacement
1,11 _5611 .7-4.0 PRINCIPAL PAYMENT
600,096.00
600,096.00
50,606.75
498,361.21
101,734.79
16.95 %
1111,_561_1._574.15 INTEREST EXPENSE
631,902.00
631,902.00
52,059.72
528,303.49
103,598.51
16.39%
Category: 570 - Debt Service & Capital Replacement Total:
1,231,998.00
1,231,998.00
102,666.47
1,026,664.70
205,333.30
16.67%
Category: 580 - Capital Outlay
1_.11-5611 5811_0 LAND -PURCHASE PRICE
1,000,000.00
1,000,000.00
0.00
7,079.00
992,921.00
99.29 %
1111_5 11.58995 CONTRA CAPITAL OUTLAY
0.00
0.00
0.00
-7,079.00
7,079.00
0.00 %
Category: 580 - Capital Outlay Total:
1,000,000.00
1,000,000.00
0.00
0.00
1,000,000.00
100.00%
Expense Total:
16,427,451.00
16,453,701.00
575,507.49
3,803,104.77
12,650,596.23
76.89%
Fund: 111- WYLIE ECONOMIC DEVEL CORP Surplus (Deficit):
-9,074,320.00
-9,099,320.00
-155,131.87
-400,356.44
8,698,963.56
95.60%
Report Surplus (Deficit):
-9,074,320.00
-9,099,320.00
-155,131.87
-400,356.44
8,698,963.56
95.60%
5/16/2024 9 E7°'€2 AM Page 2 c:f 4
Budget Report
Original Current
Category Total Budget Total Budget
Fund: 111- WYLIE ECONOMIC DEVEL CORP
Revenue
400 - Taxes
4,536,561.00
4,536,561.00
460 - Interest Income
112,000.00
112,000.00
480 - Miscellaneous Income
2,704,570.00
2,705,820.00
Revenue Total:
7,353,131.00
7,354,381.00
Expense
510 - Personnel Services
629,900.00
654,900.00
520 - Supplies
8,300.00
8,300.00
540 - Materials for Maintenance
10,150.00
10,150.00
560 - Contractual Services
13,547,103.00
13,548,353.00
570 - Debt Service & Capital Replacement
1,231,998.00
1,231,998.00
580 - Capital Outlay
1,000,000.00
1,000,000.00
Expense Total:
16,427,451.00
16,453,701.00
Fund: 111- WYLIE ECONOMIC DEVEL CORP Surplus (Deficit):
-9,074,320.00
-9,099,320.00
Report Surplus (Deficit):
-9,074,320.00
-9,099,320.00
0812112024 Item B.
For Fiscal:
2023-2024 Period Ending: 07/31/707T-
Group Summary
Variance
Period
Fiscal
Favorable
Percent
Activity
Activity
(Unfavorable) Remaining
374,225.19
3,154,111.46
-1,382,449.54
30.47%
45,750.43
439,693.50
327,693.50
292.58%
400.00
-191,056.63
-2,896,876.63
107.06%
420,375.62
3,402,748.33
-3,951,632.67
53.73%
45,844.72
454,069.20
200,830.80
30.67%
994.66
6,357.26
1,942.74
23.41%
0.00
2,625.78
7,524.22
74.13%
426,001.64
2,313,387.83
11,234,965.17
82.92%
102,666.47
1,026,664.70
205,333.30
16.67%
0.00
0.00
1,000,000.00
100.00%
575,507.49
3,803,104.77
12,650,596.23
76.89%
-155,131.87
-400,356.44
8,698,963.56
95.60%
-155,131.87
-400,356.44
8,698,963.56
95.60%
Page :3 of 4
1Q
Budget Report
1 0812112024 Item B.
For Fiscal: 2023-2024 Period Ending: u7/31/7074—
Fund
Original Current
Total Budget Total Budget
111 -WYLIE ECONOMIC DEVEL CORP -9,074,320.00 -9,099,32 0.00
Report Surplus (Deficit): -9,074,320.00 -9,099,320.00
Fund Summary
Variance
Period
Fiscal
Favorable
Activity
Activity
(Unfavorable)
-155,131.87
-400,356.44
8,698,963.56
-155,131.87
-400,356.44
8,698,963.56
,9/16/2024 9:17A2 AM
Page 4 of 4
F 1-1 1
0812112024 Item B.
Wylie Economic Development Corporation
Statement of Net Position
As of July 31, 2024
Assets
Cash and cash equivalents
$
13,662,637.59
Receivables
$
717,000.00 Note 1
Inventories
$
14,645,353.88
Prepaid Items
$
-
Total Assets
$
29,024,991.47
Deferred Outflows of Resources
Pensions
$
114,336.55
Total deferred outflows of resources
$
114,336.55
Liabilities
Accounts Payable and other current liabilities
$
21,066.87
Unearned Revenue
$
1,200.00 Note 2
Non current liabilities:
Due within one year
$
162,849.79 Note 3
Due in more than one year
$
15,136,816.48
Total Liabilities
$
15,321,933.14
Deferred Inflows of Resources
Pensions
$
(8,336.41)
Total deferred inflows of resources
$
(8,336.41)
Net Position
Net investment in capital assets
$
-
Unrestricted
$
13,809,058.47
Total Net Position
$
13,809,058.47
Note 1: Includes incentives in the form of forgivable loans for $67,000 (Glen Echo),
$450,000 (Phoenix Ascending), and $200,000 (MLKJ)
Note 2: Deposits from rental property
Note 3: Liabilities due within one year includes compensated absences of $32,301
0812112024 Item B.
..f IV Balance Sheet
%
WYLIEDEVELOPMENT Account Summary
As Of 07/31/2024
Account
Name
Balance
Fund: 111 - WYLIE ECONOMIC DEVEL CORP
Assets
111-1000-101.10
CLAIM ON CASH AND CASH EQUIV.
13,660,637.59
111-1000-101.15
CASH - WEDC - INWOOD
0.00
111-1000-10135
ESCROW
0.00
111-1000-10180
DEPOSITS
2,000.00
11 -1 1000- 10198
OTHER - MISC CLEARING
0.00
1.11-1000-10341
TEXPOOL
0.00
111-1000-10343
LOGIC
0.00
11.1. _1000-104,91
INTEREST RECEIVABLE
0.00
1-1-1-1000-11511
ACCTS REC- MISC
0.00
111-1000-1151.7
ACCTS REC - SALES TAX
0.00
111-1000-1281.0
LEASE PAYMENTS RECEIVABLE
0.00
111 1000-12950
LOAN PROCEEDS RECEIVABLE
0.00
111- 1000-12996
LOAN RECEIVABLE
0.00
111- 1000- 12 997
ACCTS REC - JTM TECH
0.00
111-1000- 12 1) 98
ACCTS REC - FORGIVEABLE LOANS
717,000.00
111- 1000- 1411.2
INVENTORY - MATERIAL/ SUPPLY
0.00
1111000-1411.6
INVENTORY- LAND & BUILDINGS
14,645,353.88
1111000-1411.8
INVENTORY - BAYCO/ SANDEN BLVD
0.00
111-1000-14310
PREPAID EXPENSES- MISC
0.00
111-1 000-14410
DEFERRED OUTFLOWS
1,110,500. 00
Total Assets:
30,135,491.47 30,135,491.47
Liability
111-2000-201.1.0
-------------------
FEDERAL INCOME TAX PAYABLE
0.00
1112000-20 -1. 1.1
MEDICARE PAYABLE
0.00
1.11 2000-2011.2
- ---------- ---- ------------
CHILD SUPPORT PAYABLE
0.00
111-2000-201.13
CREDIT UNION PAYABLE
0.00
I112000j01.14
IRS LEVY PAYABLE
0.00
111-2000-201.15
NATIONWIDE DEFERRED COMP
0.00
111-2000-201.16
HEALTH INSUR PAY -EMPLOYEE
4,072.49
111 2000-2.0.1.17
TIVIRS PAYABLE
7,088.84
1112000-201.18
ROTH IRA PAYABLE
0.00
111-2000-201.19
WORKERS COMP PAYABLE
0.00
111-2000-10120
FICA PAYABLE
0.00
111-2000-10121.
TEC PAYABLE
0.00
111-200.0-201,22
STUDENT LOAN LEVY PAYABLE
0.00
111-2000-20123
- --- - ---------------------
ALIMONY PAYABLE
0.00
111- 2000- 2 0124
- --- - ----------------------
BANKRUPTCY PAYABLE
0.00
111-2000-201.25
- --- - ------------------------
VALIC DEFERRED COMP
0.00
111-2000-201.26
- --- - -----------------------
ICMA PAYABLE
0.00
111-2000-201.27
- --- - ------------------------
EMP. LEGAL SERVICES PAYABLE
0.00
1 1_1 - 2 0 0 0 - 2 0 13 0
FLEXIBLE SPENDING ACCOUNT
8,462.30
111 2000-201.31.
- - - ------------------
EDWARD JONES DEFERRED COMP
0.00
111 200 0 -_2 0132
EMP CARE FLITE
12.00
1112000-10133
Unemployment Comp Payable
27.45
111-2000-201.51
- --- - ------ ------------- -
ACCRUED WAGES PAYABLE
0.00
111-2000-201.80
- --- - -----------------------
ADDIT EMPLOYEE INSUR PAY
92.32
111-2000-201.99
- --- -
MISC PAYROLL PAYABLE
0.00
1,11_�100 _20201
- --- - -----------------------
AP PENDING
1,311.47
111-2000-2021.0
- --- - ----------------------
ACCOUNTS PAYABLE
0.00
111-2000-20530
- --- -
PROPERTY TAXES PAYABLE
0.00
1,11_�100 _2f1_i40
- --- - -----------------------
NOTES PAYABLE
1,110,500.00
111-2000-2081.0
- --- - -----------------------
DUE TO GENERAL FUND
0.00
8/16/2024 8:14�26 AM Page i of 3
[ 13]
Balance Sheet
1 0812112024 Item B.
As Ut U7/31/ZUZ4
Account
111- 20 00-12270
111-2000-22275
111-2000-22280
1- 11- - 20 0 0--- 2 2- 9 -1-5.
Equity
111- 3000-141.10
111-3000-14590
Total Revenue
Total Expense
Revenues Over/Under Expenses
Name
Balance
DEFERRED INFLOW
0.00
DEF INFLOW - LEASE PRINCIPAL
0.00
DEFERRED INFLOW - LEASE INT
0.00
RENTAL DEPOSITS
1,200.00
Total Liability:
1,132,766.87
FUND BALANCE - RESERVED 0.00
FUND BALANCE-UNRESERV/UNDESIG 29,403,081.04
Total Beginning Equity: 29,403,081.04
3,402,748.33
3,803,104.77
-400,356.44
Total Equity and Current Surplus (Deficit): 29,002,724.60
Total Liabilities, Equity and Current Surplus (Deficit): 30,135,491.47
8/16/2024 8:14. 26 AM
Page 2 of 3
F14]
Balance Sheet
Account Name Balance
Fund: 922 - GEN LONG TERM DEBT (WEDC)
Assets
Total Assets: 0.00 0.00
Liability
922._200 _28248 GOVCAP LOAN/SERIES 2022 7,556,077.29
Total Liability: 7,556,077.29
Total Equity and Current Surplus (Deficit): 0.00
Total Liabilities, Equity and Current Surplus (Deficit): 7,556,077.29
*** FUND 922 OUT OF BALANCE ***-7,556,077.29
0812112024 Item B.
As
***Warning: Account Authorization is turned on. Please run the Unauthorized Account Listing Report to see if you are out of balance due to missing
5/:€.6/2024 8:'}_4. 26 AM
Page 3 of 3
F15]
1 0812112024 Item B.
Wylie Economic Development Corporation
SALES TAX REPORT
July 31, 2024
BUDGETED YEAR
DIFF % DIFF
MONTH FY 2021 FY 2022 FY 2023 FY 2024 23 vs. 24 23 vs. 24
DECEMBER
$
235,381.33
$ 263,577.66
$ 338,726.54
$ 374,68638
$
35,959.83
10.62%
JANUARY
$
262,263.52
$ 326,207.92
$ 368,377.73
$ 393,994.39
$
25,616.67
6.95%
FEBRUARY
$
456,571.35
$ 417,896.79
$ 480,381.11
$ 265,491.94
$
(214,889.17)
-44.73%
MARCH
$
257,187.91
$ 305,605.50
$ 313,686.17
$ 577,757.71
$
264,071.54
84.18%
APRIL
$
221,881.55
$ 265,77180
$ 310,050.94
$ 341,335.06
$
31,284.12
10.09%
MAY
$
400,371.70
$ 401,180.20
$ 434,878.33
$ 448,671.55
$
13,793.21
3.17%
JUNE
$
290,586.92
$ 343,371.26
$ 330,236.89
$ 377,949.25
$
47,712.37
14.45%
JULY
$
314,559.10
$ 331,432.86
$ 379,162.00
$ 374,225.20
$
(4,936.80)
-1.30%
AUGUST
$
390,790.76
$ 429,696.16
$ 448,253.70
$ -
SEPTEMBER
$
307,681.15
$ 337,512.61
$ 371,880.65
$
OCTOBER
$
326,382.38
$ 346,23636
$ 377,466.67
$
NOVEMBER
$
411,813.32
$ 392,790.84
$ 458,694.91
$
Sub -Total
$
3,875,470.98
$ 4,161,281.96
$ 4,611,795.64
$ 3,154,111.47
$
198,611.76
10.43%
Total $ 3,875,470.98 $ 4,161,281.96 $ 4,611,795.64 $ 3,154,111.47 $ 198,611.76 10.43%
WEDC Sales Tax Analysis
$700,000
$600,000
$500,000
$400,000
$300,000
$200,000
$100,000
$0
N
Sales Tax collections typically take 2 months to be reflected as Revenue. SIsTx receipts are then accrued back 2 months.
Example: July SIsTx Revenue is actually May SIsTx and is therefore the 7th allocation in FY24.
N
Sales Tax collections typically take 2 months to be reflected as Revenue. SIsTx receipts are then accrued back 2 months.
Example: July SIsTx Revenue is actually May SIsTx and is therefore the 7th allocation in FY24.
0812112024 Item B.
Wylie Economic Development Corporation
PERFORMANCE AGREEMENT REPORT
July 31, 2024
TOTAL REMAINING PREVIOUS FY TOTAL
INCENTIVE AFTER PAYMENTS INCENTIVE
PERFORMANCE AGREEMENTS FY 2024 FY 2025 FY 2026 FY 2027 FY 2028 CURRENT FY
LLV-ROS
$
10,000.00
$ -
$ -
$ $
$
$
-
$ 10,000.00
$ 10,000.00
A
AMERICAN ENTITLEMENTS 11
$
35,000.00
$ 23,000.00
$ 12,000.00
$ $
$
$
12,000,00
$ -
$ 35,000.00
NORTH DALLAS WYLIE LAND
$
120,000.00
$ 20,000.00
$ -
$ $
$
$
$ 100,000.00
$ 120,000.00
AXL
$
65, 000.00
$ 9,250,00
$ 9, 250.00
$ $
$
$
9,250,00
$ 46, 500.00
$ 65, 000.00
GLEN ECHO BREWING
$
100,00a00
$ 50,000.00
$ 30,000.00
$ 20,000.00 $
$
$
50,000.00
$ -
$ 100,000.00
B
MLKJ
$
80,000.00
$ -
$ 40,000.00
$ 40,000.00 $
$
$
30,000,0f1
$
$ 80,00a00
C
CLF II LI WYLIE (LOVETT)
$
1, 300, 000. 00
$ 650,000,00
$ 650,000.00
$ - $
$
$
650,000,00
$
$ 1, 300, 000. 00
DEANAN/DANK
$
30,000.00
$ 15,000.00
$ -
$ $
$
$
-
$ 15,000.00
$ 30,000.00
FIREWATER
$
300,000.00
$ 10t:E000,00
$
$ $
$
$
$ 200,000.00
$ 300,000,00
PHOENIX ASCENDING
$
-
$ -
$
$ $
$
$
-
$ -
$ -
D
SANDEN INTERNATIONAL
$
500,000.00
$ 300,000.00
$ 200,000.00
$ $
$
4
200,000,00
$ -
$ 500,000.00
$ 2,540,000.00 $ 1,167,250.00 $ 941,250.00 $ 60,000.00 $ - $ - $ 1,001,250.00 $ 371,500.00 $ 2,540,000.00
Deferred Out Flow $ 1,110,500,00
A. Performance Agreeement ($10,000) and Forgiveable Land Grant ($60,000 forgiven over 3 years). $20,000/year in 2022„ 2023, & 2024.
B. Performance Agreeement ($100,000) and Forgiveable Land Grant ($100,000 forgiven over 3 years). $33,000 CO, $33,000 in 2025, and $34,000 in 2026.
C. Performance Agreeement ($80,000) and Forgiveable Land Grant ($200,000 forgiven over 3 years). $50,000 CO & $50,000/year in 2025, 2026, & 2027.
D. Forgiveable Land Grant ($450,000 forgiven over 4 years). $112,500 CO & $112,500/year in 2026, 2027, & 2028.
17
0812112024 Item 1.
WYLIEEDC
Meeting Date: August 21, 2024
Wylie Economic Development
Item Number:
Prepared By: Jason Greiner (Staff Use Only)
Consider and act upon a Fifth Amendment to the Purchase and Sale Agreement between the WEDC and McClure Partners
Construction Company.
Recommendation I
Motion to approve a Fifth Amendment to the Purchase and Sale Agreement between the WEDC and McClure Partners
Construction Company and further authorize the Board President or his/her designee to execute said agreement.
As the Board will recall, the WEDC has been working toward the redevelopment of the Highway 78 and Brown Street
properties since early 2018. The Purchase and Sale Agreement between McClure Partners Construction Company and
the WEDC was approved by the Board on August 19, 2020. A First Amendment to the Purchase and Sale Agreement
was approved on March 16, 2022, to address issues with the completion of the water line relocation, which was required
to be completed prior to closing. A Second Amendment to the Purchase and Sale Agreement was approved on July 19,
2023, extending the water line relocation deadline to address issues with the abandonment of the water line easement. A
Third Amendment to the Purchase and Sale Agreement was approved on January 12, 2024, extending the Inspection
Period to allow the WEDC time to finalize engineering plans, install TxDOT improvements, and begin installation of the
public infrastructure (water, sewer, drainage), and fire lanes for Cooper Plaza. A Fourth Amendment to the Purchase and
Sale Agreement was approved on April 17, 2024, extending the Inspection Period 90 days, to July 25, 2024.
This Fifth Amendment extends the Inspection Period deadline 90 days, from July 25, 2024, to October 23, 2024.
Anal
• Corner Lot: 1.74 acres or 75,804 square feet
• Sales Price: $20/SF or approximately $1,516,080
• Water Line Relocation Deadline: September 30, 2023
• Inspection Period: 120 Days
• Closing Date: 60 Days
First Amendment Deadlines:
• Water Line Relocation Deadline: March 31, 2023
• Due Diligence/Survey Delivery: 4-15-23
• Inspection Period: 7-29-23
• Closing Deadline: 9-27-23
Page 1 of
N
0812112024 Item 1.
Second Amendment Deadlines:
• Water Line Relocation Deadline: September 30, 2023
• Due Diligence/Survey Delivery: 10-15-23 (15 days after water line relocation date)
• Inspection Period: 1-28-24 (120 days after water line relocation date)
• Closing Deadline: 3-28-24 (60 days after inspection period)
Third Amendment Deadlines:
• Inspection Period: 4-26-24 (120 days after water line relocation date of Sept 29, 2023 + 90-day extension)
• Closing Deadline: 6-25-24 (60 days after inspection period)
Fourth Amendment Deadlines:
Inspection Period: 7-25-24 (120 days after water line relocation date of Sept 29, 2023 + 90-day extension +
90-day extension)
Closing Deadline: September 23, 2024
Fifth Amendment Deadlines:
• Inspection Period: 10-23-24 (120 days after water line relocation date of Sept 29, 2023 + 90-day extension
+ 90-day extension + 90-day extension)
• Closing Deadline: December 22, 2024
If approved, the anticipated closing date is December 15, 2024, so the anticipated grand opening would be in September
or October 2025.
Page 2 of
0812112024 It DS1.
W"Y'L I E E D C Wylie Economic Development
Board
AGENDA REPORT
Meeting Date:
Prepared By:
August 21, 2024
Jason Greiner
Item Number: DS1
Discussion regarding future WEDC Board Retreats/Work Sessions.
No action is requested by staff for this item.
At the 7-17-24 WEDC Work Session, the Board discussed interest in future Work Sessions that may include community
tours, downtown tours, and/or redevelopment/development tours.
Staff will lead the discussion regarding future WEDC Board Retreats/Work Sessions.
Page 1 of
n
0812112024 It DS2.
W`Y4'L I E E D C Wylie Economic Development
Board
AGENDA REPORT
Meeting Date:
Prepared By:
August 21, 2024
Jason Greiner
Discussion regarding future WEDC Credit Cards.
No action is requested by staff for this item.
Staff will lead the discussion regarding WEDC Credit Cards.
Item Number: DS2
Page 1 of
n
0812112024 It DS3.
W"Y'L I E E D C Wylie Economic Development
Board
AGENDA REPORT
W.
Meeting Date: August 21, 2024 Item Number:
Prepared By: Jason Greiner
DS3
Staff report: WEDC Property Update, Temporary Access Agreements, Downtown Parking, Engineering Report,
Upcoming Events, and WEDC Activities/Programs.
No action is requested by staff on this item.
WEDC Property Update:
Property Management
• Demolition of 104 S Ballard and 100 W Oak have been completed. Staff is coordinating the grading and
irrigation of the sites at 104 S Ballard and 1.00 W Oak in preparation for hydromulching.
• Staff have been in communication with the former tenant of 106 N Birmingham, 605 Commerce/Suite 200, and
908 Kirby regarding payment of past due rent and anticipates an additional payment next month.
• Staff have been in communication with mowing services regarding overgrown lots at 544/Gateway, 78/Brown
and Lot 2R Helmberger Industrial Park.
Real Estate
Staff continued work with contracted buyers to determine further amendments/extensions to coordinate closing
dates with construction timelines.
Listing Agreement — Segovia Partners (SP)
• SP has continued to market developable properties and has engaged with potential users/developers.
• Staff will provide project updates as needed in Executive Session.
Downtown Parking & Drainage:
• The survey documentation that Union Pacific has requested has been provided.
• KH is waiting on the City of Wylie downtown project for the regional drainage solution.
• Staff will provide additional updates as needed in Executive Session.
Engineering Report:
Design & Engineering - 544 Gateway Addition — Kimley Horn (KH)
• Project is under construction with KH providing construction management as -needed. Bi-weekly coordination
meetings are being held with the City, contractor, KH and WEDC.
Page 1 of
n
0812112024 It DS3.
• RFI regarding existing sanitary sewer depth has been approved by the City. Need to determine if any railroad
coordination needs to occur for tie-in.
• A replat has been prepared to show final easements and is being coordinated with the City.
• Next project coordination meeting: 08/22/24
Design & Engineering - FM 544 Commercial — Special Planning Area (KH)
• KH to prepare an updated IPO for the Flood Study on the City's 19 AC site and FY25 project coordination.
• Staff will provide any additional updates in Executive Session.
Environmental- State Hwy 78 & Brown — Elm Creek (EC) & Whitehead Environmental Services (WES)
• COC documents were received and taken to Collin County for recording. Whitehead Environmental provided
proof of filing to TCEQ and we are waiting to see if that satisfies the documentation requirement.
State Hwy 78 TxDOT Improvements
• Project is currently under construction with KH providing construction management as needed.
• Staff was contacted regarding contractors accessing site to dump concrete. A license plate was recorded, WPD
assisted in contacting the individual responsible, and materials were removed from site.
Design & Engineering - Cooper Plaza - State Hwy 78 & Brown
• Contracts have been fully executed and distributed. Estimated start date is September 16, 2024.
• McMahon submitted a stone veneer for the outfall face. Material will need review by WEDC/City and structural
engineer.
• The City is reviewing first round of submittals.
• Next project coordination meeting: 09/05/24
Flood Study & Drainage Study- Hooper/Steel/Regency Business Park (KH)
• Drainage study with final recommendations for Option 6 improvements was received from KH.
• KH is working on the existing storm sewer analysis.
• KH preparing an. IPO for the final design of the Option 6 improvements for FY 25.
Hooper/Steel ROW Dedication
• KH provided an exhibit showing the ROW that would need to be obtained/dedicated.
Security Court Fire Lane Exhibit
• KH prepared an exhibit showing the fire lane.
• Staff will coordinate with adjacent property owners.
Water & Sewer Extension - State Hwy 78/Alanis (KH)
• Design is complete. Waiting on the signed and filed drainage and sanitary sewer easements.
• A pre -con meeting can be scheduled once all easements are signed and filed.
• Contractor will need to coordinate with NTMWD on shutdown for tie-in.
Eubanks Easement/ROW Coordination
• KH prepared an exhibit that shows ROW dedications/letter agreements to be obtained on the west side of the
road as an alternative route should negotiations stall with property owners on the east side of Eubanks.
• WEDC is coordinating with property owners. ANY UPDATE FROM JOE C??
• KH to prepare easement (and potentially ROW) documents for the properties once the gas line route has been
confirmed.
Jackson Avenue Development
• KH is coordinating with the City and design team for the Downtown infrastructure/wayfinding project to
coordinate parking, drainage, and "theme" of the development.
23]
0812112024 It DS3.
• Once drainage solution is known KH will prepare an IPO for a master plan, preliminary and final engineering,
and an OPCC for the development of the block at Jackson/Oak/Marble. Architect/planner will be engaged to help
plan the buildings (anticipated to be shell buildings/condominiums for lease. The development will meet the
requirements of the Downtown overlay district.
Westgate Gas Line & Easement Coordination
• Ongoing work on the abandonment of the former easements is still taking place. Staff met with properly owner,
engineering team, and Atmos to discuss next steps for abandonment.
• Survey documents were sent to Atmos and we are awaiting confirmation from them.
BRE & Workforce Updates:
• Conducted 4 BRE visits in July.
• Facilitated one workforce development meeting to help the employer secure TWC funding (reduced hours).
• Hosted Gov -Con 101 Hands -On Workshop. Six local employers have registered for SAM.gov.
• Participated in WSNCT/EDC Partner Group Team meeting promoting regional workforce development.
• Met with Wylie ISD CTE for initial planning for MFG Day 2024 and Fall student engagement programs.
• Met with Collin College regarding a potential career fair for Wylie area employers.
• Participated in 4 industry educational webinars.
Additional WEDC Activities/Programs in Review:
• Ongoing efforts toward social media, Discover Wylie, and Social Media Rescue for local businesses.
• Ongoing meetings and discussions with real estate developers, contractors, property owners, and legal continue.
• Performed additional reconfiguration of the website, data management and organization, and development of
marketing materials.
• Worked with legal regarding ongoing real estate projects and performance agreements.
• Attended City Council Budget Meetings for FY25.
• Attended soft opening event for Ferah Smokehouse & Cantina.
• Attended WISD New Teacher Luncheon.
• WEDC Office Manager Christy Stewart joined the team on July 15"
• Sales tax revenues for August are up 3.33%. YTD sales tax revenues are up 9.64%.
Upcominp, Events:
• Wylie Chamber of Commerce — Monthly Luncheon: Non -Profit Spotlight — August 27
• Wylie Championship Rodeo — September 6-7
• Wylie City Council/MFG Day Reception & Proclamation — September 24
• Legislative Dinner — September 26
• TEDC — ED Sales Tax Workshop — DFW — September 27 (Ft Worth)
• TX ED Connection: The Best of Texas Bus Tour- October 3-4
Hope's Gate - Hope Under the Stars — October 5
November/December WEDC Board Meeting Dates TBD/Discussion
Please see the attached Marketing Calendar for the full list of upcoming events.
24
WYLIEECONOMIC 1 08/21/2024 It DS3.
DEVELOPMENT
Day Time Meeting/Event
........ ........ _CLOSES 4th of ji Iwpenc_y
9 6:00 pm City Council/WEDC Budget Work Session
9 2:00 pm Introduction to Government Contracting Webinar
17 7:30 am WEDC- Board Meeting
23 6:00 pm City Council/ Final Budget Work Session with Council
23 11:30 am Chamber— WISD New Teacher Luncheon
25 5:01-7:00 pm 5:01 PM Professional Mixer — Glen Echo Brewing
30 9:00 am Gov -Con 101 Workshop
Day Time Meeting/Event
6 8:30-9:30 am WDMA Meeting
13 6:00 pm City Council
21 7:30 am WEDC- Board Meeting
27 Annual InterFace — DFW and NTX Retail & Industrial Conference — mb cs
27 11:30 am Wylie Chamber of Commerce- Monthly Luncheon: Non -Profit Spotlight *RSVP Required
27-28 Team Texas Annual Economic Consultant Summit — Rockwall, TX — ig, rh
27 6:00 pm City Council
29 5:01-7:00 pm 5:01 PM Professional Mixer — Ferah Smokehouse & Cantina
29-30 Retail Live! South Central 2024 — Austin, TX — ig, rh
Day
Time
Meeting/Event
2,_____
L S D
Labor-Pay
3
8:30-9:30 am
WDMA Meeting
4
ICAN Presentation- WEDC
6-7
Wylie Championship Rodeo
9
CEDA Committee Meeting — Austin, TX - ig
10
6:00 pm
City Council
12
REDnews Collin County Summit
12
REDnews Dallas Women in Real Estate Summit
15-18
IEDC 2024 Annual Conference — Denver, CO
18
7:30 am
WEDC- Board Meeting
19
TDA Regional Roundtable — Burleson, TX
24
6:00 pm
City Council/MFG Day Reception & Proclamation
26
5:30 — 8:00 pm
Legislative Dinner
26
5:01-7:00 pm
5:01 PM Professional Mixer
27
8:00 am
IEDC - Sales Tax Workshop, Ft Worth, TX *RSVP Required
Around the Corner...
•
MFG Day Wylie Kickoff —
October 3
•
Hope Under the Stars — October 5 *RSVP Required
•
TEDC Annual Conference
— Addison, TX — October 23-25
•
Texas Downtown Conference 2024 —Abilene, TX —October 28-30
•
Chamber Workforce Luncheon — October 29 *RSVP Required
•
TML Economic Development
Conference — Bastrop, TX — November 14-15 *RSVP Required