07-17-2024 (WEDC) MinutesIUT
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,,rx 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 Rachae[ I fermes, 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 he considered separately.
A. Consider and act upon approval of Minutes from June 19, 2024, Regular Meeting of the
WE DC 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.
REGULAR AGENDA
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 begirming 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
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 $10.3N4M
to $9M-M. 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 $91 k 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 tip 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
DSI. 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/Prograins. Regarding property updates, Staff noted that
104 S Ballard was demolished on July 12l 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 55 1,001, et. seq. Texas Government
Code, to wit:
Sec. 551.072. DELIBERATION REGARDING REAL PROPERTY; CLOSED MEETING.
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.
Sec. 551.074. PERSONNEL MATTERS; CLOSED MEETING.
See. 551.087. DELIBERATION REGARDING ECONOMIC DEVELOPMENT NEGOTIATIONS;
CLOSED MEETING.
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 cis a result oJ'the Executive &ssion.
WEDC — Minutes
July 1.7, 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 I.
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.
Melissa Whitehead, President
ATTE
Jas6o"'Grpitier, Exeetfli e Director