12-18-2024 (WEDC) Agenda PacketWylie Economic Development Corporation
Board Regular Meeting
December 18, 2024 — 7:30 AM
WEDC Office Conference Room - 250 South Highway 78, Wylie, Texas
75098
CALL TO ORDER
INVOCATION & PLEDGE OF ALLEGIANCE
WY LIEECi:
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.
,.. Consider and act upon approval of Minutes from the November 20, 2024 Regular Meeting of the WEDC
Board of Directors.
R.,._ Consider and act upon approval of the November 2024 WEDC Treasurer's Report.
REGULAR AGENDA
1..._ Consider and act upon upon issues surrounding the Performance Agreement between the WEDC and MLKJ
Investments, LLC.
2,_ Consider and act upon Committee Appointments by the Board.
DISCUSSION ITEMS
Q.S IDiscussion and updates from WEDC Committees.
05.2_, 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.
14 p u 'I::J R 11
ES1. Consider the sale or acquisition of properties located at Brown/Eubanks, FM 544/Cooper, FM 544/Sanden,
Jackson/Oak, Regency/Steel, State Hwy 78/Brown, and State Hwy 78/Skyview.
See. 551.074. PERSONNEL MATTERS; CLOSED MEETING.
(a) This chapter does not require a governmental body to conduct an open meeting:
(1) to deliberate the appointment, employment, evaluation, reassignment, duties, discipline, or dismissal of a public
officer or employee; or
(2) to hear a complaint or charge against an officer or employee.
(b) Subsection (a) does not apply if the officer or employee who is the subject of the deliberation or hearing requests
a public hearing.
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: 2021-4b, 2021-6c, 2022-lb, 2022-1c, 2023-1c,
2023-2d, 2023-11a, 2023-11b, 2024-2d, 2024-4e, 2024-5a, 2024-5f, 2024-7a, 2024-7b, 2024-7e, 2024-8a,
2024-8b, 2024-8c, 2024-8d, 2024-9b, 2024-9c, 2024-9d, 2024-9e, 2024-9f, 2024-10a, 2024-10b, 2024-10c,
2024-1la, 2024-1lb, 2024-11c, 2024-11d, 2024-1le, 2024-12-a, 2024-12b, and 2024-12c.
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 December 13, 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
:pr:9c �2
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.
§ 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.
:pr:9 �3
1211812024 Item A.
Minutes
Wylie Economic Development Corporation
Board of Directors Regular Meeting
November 20, 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 Demond Dawkins called the meeting to order at 7:32 a.m. Board Members present were Vice
President Blake Brininstool, Whitney McDougall, Harold Smith, and Melisa Whitehead.
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, Research Analyst Marissa Butts, and Office Manager Christy Stewart.
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 Dawkins 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 October 16, 2024, Regular Meeting of the
WEDC Board of Directors.
B. Consider and act upon approval of the October 2024 WEDC Treasurer's Report.
Board Action
A motion was made by Melisa Whitehead, seconded by Blake Brininstool, to approve the Consent
Agenda as amended to correct the spelling of Melisa Whitehead's name in the October Minutes. A
vote was taken, and the motion passed 5-0.
REGULAR AGENDA
1. Consider and act upon Committee Appointments by the Board.
Staff Comments
Staff presented this item for the Board's consideration to appoint members to current committees,
have an opportunity to change any committees, or eliminate any committees that are no longer
needed. Staff stated that the current committees include the Bylaw Committee, Budget, Finance &
1211812024 Item A.
WEDC — Minutes
November 20, 2024
Page 2 of 3
Audit Committee, and New Business Attraction & Recruitment Committee. The Board discussed
adding a Strategic Planning Committee to discuss current and future desired projects. Demond
Dawkins, Blake Brininstool, and Harold Smith expressed interest in participating in the new Strategic
Planning Committee, and staff noted that a meeting notice would need to be posted 72 hours before
scheduled meetings due to the existence of a quorum of the Board. Additionally, the Board discussed
eliminating the Bylaw Committee.
Board Action
A motion was made by Harold Smith, seconded by Blake Brininstool, to remove the Bylaw
Committee and add a Strategic Planning Committee. A vote was taken, and the motion passed 5-0.
A motion was made by Blake Brininstool, seconded by Melisa Whitehead, to appoint Demond
Dawkins, Blake Brininstool, and Harold Smith to the Strategic Planning Committee. A vote was
taken, and the motion passed 5-0.
DISCUSSION ITEMS
DS1. 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 Updates, Temporary Access Agreements, Downtown Parking, Engineering Report,
Upcoming Events, and WEDC Activities/Programs. Staff discussed the MFG Day/Month activities
and the CCIM/Best of Texas Bus Tour. The Board shared their experiences at the Hope Under the
Stars event in Downtown Wylie. Staff discussed and confirmed Board availability to attend
upcoming events. Staff returned to the engineering report to provide updates regarding the status of
ongoing construction sites, noting revisions to the quantities/change order for the retaining wall at
FM 544 Gateway and overall project updates across the city.
EXECUTIVE SESSION
Recessed into Closed Session at 8:01 a.m. in compliance with Section 551.001, 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.
Sec. 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: 2021-4b, 2021-6c,
2022-1 b, 2022-1 c, 2023-1 c, 2023-2d, 2023-11 a, 2023-11b, 2024-2d, 2024-4e, 2024-5a, 2024-7a,
1211812024 Item A.
WEDC — Minutes
November 20, 2024
Page 3 of 3
2024-7b, 2024-7e, 2024-8a, 2024-8b, 2024-8c, 2024-8d, 2024-9b, 2024-9c, 2024-9d, 2024-9e,
2024-9f, 2024-10a, 2024-10b, 2024-10c, 2024-11a, and 2024-11b.
RECONVENE INTO OPEN SESSION
Take any action as a result of the Executive Session.
President Dawkins reconvened into Open Session at 10:18 a.m.
FUTURE AGENDA ITEMS
There were no Items requested for inclusion on future agendas.
ADJOURNMENT
With no further business, President Dawkins adjourned the WEDC Board meeting at 10:18 a.m.
Demond Dawkins, President
ATTEST:
Jason Greiner, Executive Director
10-1
1211812024 Item 8.
WY L I E�D(
Wylie Economic Development
AGENDA REPORT
Meeting Date: December 18, 2024 Item Number: B
Prepared By: Jason Greiner
Consider and act upon approval of the November 2024 WEDC Treasurer's Report.
Motion to approve the November 2024 WEDC Treasurer's Report.
Presented for the Board's review and approval is the November 2024 Treasurer's Report detailing the month and year-to-
date financial transactions and performance against budget. This report contains the Revenue and Expense Report,
Statement of Net Position, Balance Sheet, Sales Tax Report, and the Performance Agreement Summary.
REVENUES:
Sales Tax Revenue earned in September allocated in November was $446,217.04, a decrease of 2.72% over the same
period in 2023. Overall, FY23-24 ended with an increase of 8.37% in sales tax revenue from the year prior.
EXPENSES:
Advertising
$10,350.00 Speak Loud Media Group — Social Media Mgmt/D-S-P Influencer Video Campaign (Oct 24 - Mar 25)
Special Services - Infrastructure
$41,981.64 Tiseo Paving Company — FM 544 Gateway (Prof 11F) — Est #5
WYLIEECONOMIC
D E V E I1I . 0 IF'11' M I Nb N °illl°°w
Original Current
Total Budget Total Budget
Fund: 111 - WYLIE ECONOMIC DEVEL CORP
Revenue
Category: 400 - Taxes
11 V 1000 40210 SALES TAX 4,990,217.00 4,990,217.00
Category: 400 - Taxes Total: 4,990,217.00 4,990,217.00
1211812024 Item B.
Rev/Exp Report
Account Summary
For Fiscal: 2024-2025 Period Ending: 11/30/2024
Variance
Period Fiscal Favorable Percent
Activity Activity (Unfavorable) Remaining
0.00 0.00-4,990,217.00 100.00%
0.00 0.00-4,990,217.00 100.00%
Category: 460 - Interest Income
III 1000 4 6110
ALLOCATED INTEREST EARNINGS
112,000.00
112,000.00
36,341.37
75,270.33
-36,729.67
32.79
%
Category: 460 - Interest Income Total:
112,000.00
112,000.00
36,341.37
75,270.33
-36,729.67
32.79%
Category: 480 - Miscellaneous Income
111 1000 48110
RENTAL INCOME
4,800.00
4,800.00
2,500.00
2,500.00
-2,300.00
47.92
%
1.1.1 11700 48410
MISCELLANEOUS INCOME
0.00
0.00
400.00
400.00
400.00
0.00
%
111 1000 48430
GAIN/(LOSS) SALE OF CAP ASSETS
4,121,530.00
4,121,530.00
0.00
0.00
-4,121,530.00
100.00%
Category: 480 - Miscellaneous Income Total:
4,126,330.00
4,126,330.00
2,900.00
2,900.00
-4,123,430.00
99.93%
Revenue Total:
9,228,547.00
9,228,547.00
39,241.37
78,170.33
-9,150,376.67
99.15%
Expense
Category: 510 - Personnel Services
111 56111 11„11Qj,,
SALARIES
470,558.40
470,558.40
52,908.59
69,106.02
401,452.38
85.31%
111 15611 11„,110'
LONGEVITY PAY
2,807.68
2,807.68
2,664.00
2,664.00
143.68
5.12
%
111 1561V 11310
TMRS
74,649.83
74,649.83
8,613.75
11,124.36
63,525.47
85.10%
11,1 1561 V 51,1110,
HOSPITAL & LIFE INSURANCE
79,943.76
79,943.76
6,607.42
13,007.14
66,936.62
83.73
%
11,1 1561 V 51420
LONG-TERM DISABILITY
1,741.07
1,741.07
161.60
161.60
1,579.47
90.72
%
111 15611 51,440
FICA
29,348.70
29,348.70
3,255.93
4,167.92
25,180.78
85.80
%
IIV 15611 514150
MEDICARE
6,863.81
6,863.81
761.45
974.73
5,889.08
85.80
%
II15611 51470
WORKERS COMP PREMIUM
994.07
994.07
724.00
724.00
270.07
27.17
%
111 15611 51,480
UNEMPLOYMENT COMP (TWC)
585.00
585.00
0.00
0.00
585.00
100.00%
Category: 510 - Personnel Services Total:
667,492.32
667,492.32
75,696.74
101,929.77
565,562.55
84.73%
Category: 520 - Supplies
111 "5611 52010
OFFICE SUPPLIES
5,000.00
5,000.00
153.30
285.49
4,714.51
94.29
%
111 "5611 520,10
POSTAGE & FREIGHT
300.00
300.00
4.85
4.85
295.15
98.38
%
III "s611 52810
FOOD SUPPLIES
3,000.00
3,000.00
173.22
216.45
2,783.55
92.79
%
Category: 520 - Supplies Total:
8,300.00
8,300.00
331.37
506.79
7,793.21
93.89%
Category: 540 - Materials for Maintenance
111 5611 54610
FURNITURE & FIXTURES
2,500.00
2,500.00
0.00
0.00
2,500.00
100.00%
111 5611 54810
COMPUTER HARD/SOFTWARE
7,650.00
7,650.00
0.00
0.00
7,650.00
100.00%
Category: 540 - Materials for Maintenance Total:
10,150.00
10,150.00
0.00
0.00
10,150.00
100.00%
Category: 560 - Contractual Services
111 56111 15607 0)
INCENTIVES
1,741,250.00
1,741,250.00
0.00
0.00
1,741,250.00
100.00%
111 5611 15604C,
SPECIAL SERVICES
87,270.00
87,270.00
157.50
157.50
87,112.50
99.82
%
111 5611 156041 1
SPECIAL SERVICES -REAL ESTATE
71,000.00
71,000.00
100.00
1,654.83
69,345.17
97.67
%
111 5611 1604),
SPECIAL SERVICES-INFRASTRUCTUR
9,020,667.00
9,020,667.00
41,981.64
41,981.64
8,978,685.36
99.53
%
111 1561 V 156080 80
ADVERTISING
226,125.00
226,125.00
14,173.62
25,182.58
200,942.42
88.86
%
111 1561 V 56090
COMMUNITY DEVELOPMENT
74,450.00
74,450.00
5,596.52
7,907.92
66,542.08
89.38
%
111 1561 V 561 10
COMMUNICATIONS
7,900.00
7,900.00
511.04
511.04
7,388.96
93.53
%
111 15611 56180
RENTAL
27,000.00
27,000.00
2,250.00
4,500.00
22,500.00
83.33
%
11,1 15611 56,210
TRAVEL & TRAINING
95,500.00
95,500.00
1,428.37
14,194.75
81,305.25
85.14
%
IIV 15611 562150
DUES & SUBSCRIPTIONS
91,053.00
91,053.00
7,675.05
32,924.27
58,128.73
63.84
%
111 15611 56110
INSURANCE
6,800.00
6,800.00
5,816.85
5,816.85
983.15
14.46
%
111 15611 'Yv; 510
AUDIT & LEGAL SERVICES
53,000.00
53,000.00
0.00
0.00
53,000.00
100.00%
111 15611 56570
ENGINEERING/ARCHITECTURAL
855,300.00
855,300.00
1,675.00
1,675.00
853,625.00
99.80
%
111 "5611 56610
UTILITIES -ELECTRIC
2,400.00
2,400.00
205.34
205.34
2,194.66
91.44%
Budget Report
1211812024 Item 8.
For Fiscal: 2024-2025 PeriodEnding:
Variance
Original
Current
Period
Fiscal
Favorable
Percent
Total Budget
Total Budget
Activity
Activity
(Unfavorable) Remaining
Category: 560 - Contractual Services Total:
12,359,715.00
12,359,715.00
81,570.93
136,711.72
12,223,003.28
98.89%
Category: 570 - Debt Service & Capital Replacement
111 5611 57410 PRINCIPAL PAYMENT
606,744.04
606,744.04
51,304.25
102,433.21
504,310.83
83.12 %
111 5611 57415 INTEREST EXPENSE
625,253.60
625,253.60
51,362.22
102,899.73
522,353.87
83.54 %
Category: 570 - Debt Service & Capital Replacement Total:
1,231,997.64
1,231,997.64
102,666.47
205,332.94
1,026,664.70
83.33%
Category: 580 - Capital Outlay
p"p.;p 5611 '18110 LAND -PURCHASE PRICE
1,000,000.00
1,000,000.00
0.00
0.00
1,000,000.00
100.00 %
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:
15,277,654.96
15,277,654.96
260,265.51
444,481.22
14,833,173.74
97.09%
Fund: 111 - WYLIE ECONOMIC DEVEL CORP Surplus (Deficit):
-6,049,107.96
-6,049,107.96
-221,024.14
-366,310.89
5,682,797.07
93.94%
Report Surplus (Deficit):
-6,049,107.96
-6,049,107.96
-221,024.14
-366,310.89
5,682,797.07
93.94%,.
Budget Report
Category
Fund: 111 - WYLIE ECONOMIC DEVEL CORP
Revenue
400 - Taxes
460 - Interest Income
480 - Miscellaneous Income
12/18/2024 Item 8.
For Fiscal:
2024-2025 Period Ending:
Group Summary
Variance
Original
Current
Period
Fiscal
Favorable Percent
Total Budget
Total Budget
Activity
Activity
(Unfavorable) Remaining
4,990,217.00
4,990,217.00
0.00
0.00
-4,990,217.00 100.00%
112,000.00
112,000.00
36,341.37
75,270.33
-36,729.67 32.79%
4,126,330.00
4,126,330.00
2,900.00
2,900.00
-4,123,430.00 99.93%
Revenue Total: 9,228,547.00
9,228,547.00
39,241.37
78,170.33
-9,150,376.67 99.15%
Expense
510
- Personnel Services
667,492.32
667,492.32
75,696.74
101,929.77
565,562.55
84.73%
520
- Supplies
8,300.00
8,300.00
331.37
506.79
7,793.21
93.89%
540
- Materials for Maintenance
10,150.00
10,150.00
0.00
0.00
10,150.00
100.00%
560
- Contractual Services
12,359,715.00
12,359,715.00
81,570.93
136,711.72
12,223,003.28
98.89%
570
- Debt Service & Capital Replacement
1,231,997.64
1,231,997.64
102,666.47
205,332.94
1,026,664.70
83.33%
580
- Capital Outlay
1,000,000.00
1,000,000.00
0.00
0.00
1,000,000.00
100.00%
Expense Total:
15,277,654.96
15,277,654.96
260,265.51
444,481.22
14,833,173.74
97.09%
Fund: 111 - WYLIE ECONOMIC DEVEL CORP Surplus (Deficit):
-6,049,107.96
-6,049,107.96
-221,024.14
-366,310.89
5,682,797.07
93.94%
Report Surplus (Deficit):
-6,049,107.96
-6,049,107.96
-221,024.14
-366,310.89
5,682,797.07
93.94%
Fo
Budget Report
12/18/2024 Item 8.
For Fiscal: 2024-2025 Period Ending:
Fund Summary
Variance
Original
Current
Period
Fiscal
Favorable
Fund Total Budget
Total Budget
Activity
Activity
(Unfavorable)
111 - WYLIE ECONOMIC DEVEL CC-6,049,107.96
-6,049,107.96
-221,024.14
-366,310.89
5,682,797.07
Report Surplus (Deficit):-6,049,107.96
-6,049,107.96
-221,024.14
-366,310.89
5,682,797.07
P,Mgc 'I :.,i gip.
11 1
1211812024 Item 8.
Wylie Economic Development Corporation
Statement of Net Position
As of November 30, 2024
Assets
Cash and cash equivalents
Receivables
Inventories
Prepaid Items
Total Assets
Deferred Outflows of Resources
Pensions
Total deferred outflows of resources
Liabilities
Accounts Payable and other current liabilities
Unearned Revenue
Non current liabilities:
Due within one year
Due in more than one year
Total Liabilities
Deferred Inflows of Resources
Pensions
Total deferred inflows of resources
Net Position
Net investment in capital assets
Unrestricted
Total Net Position
$ 12,969,899.08
$ 717,000.00 Note 1
$ 14,645,353.88
$ 28,332,252.96
$ 114,336.55
$ 114,336.55
$ 130,651.85
$ 1,200.00 Note 2
$ 582,787.63 Note 3
$ 14,528,089.43
$ 15,242,728.91
$ (8,336.41)
$ (8,336.41)
$ 13,195,524.19
$ 13,195,524.19
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
12
WYLIEE C O IID'M,J O M II C
D E V E L, 0 IP IINI IE "r
Account
Name
Fund: 111 - WYLIE ECONOMIC DEVEL CORP
Assets
J.J.J.-1000-10110
CLAIM ON CASH AND CASH EQUIV.
J.J.'J 11000 301.1.5
CASH - WEDC - INWOOD
J.J.J.-1000-10135
ESCROW
111 J000 3,01,80
DEPOSITS
JJJ-1000-10198
OTHER- MISC CLEARING
1.1.1.:O.v"JN) 10341
TEXPOOL
J.J.J.- J 000-J 0343
LOGIC
111.:WOO 3,04R?1.
INTEREST RECEIVABLE
J.J.J.-J000-J 1511
ACCTS REC - MISC
J.J.J.:WOO 11.51.7
ACCTS REC - SALES TAX
J.J.J.-1000-12810
LEASE PAYMENTS RECEIVABLE
13,3, :1.000 3,2950
LOAN PROCEEDS RECEIVABLE
JJJ J000-112996
LOAN RECEIVABLE
133 .1.000 3,2997
ACCTS REC - JTM TECH
J J J-J000-112998
ACCTS REC - FORGIVEABLE LOANS
133 1000 34112
INVENTORY- MATERIAL/ SUPPLY
J.J.J.-1000-114116
INVENTORY- LAND & BUILDINGS
3,33 1000 34118
INVENTORY - BAYCO/ SANDEN BLVD
111111-J000-J4310
PREPAID EXPENSES - MISC
1,11 1.000 3441.0
DEFERRED OUTFLOWS
Total Assets:
Liability
JJJ-2000-20110
J.J.'J 2000 2011.1.
JJJ-2000-20112
2JJ-2000 20114
1.1.1 2000 2 01 '15
2JJ-2000 2-0 1 16.
1.1.1, 2000 201.1, %
1 -200-0 20118.
1.1.1, 2000 201,1,9
1 -2000 20120
11,1, 2000 201,21.
J. J 11- 2000-20122
3.33 2000 201,23
2JJ-2000 20124
3.33 2.000..201,25
2JJ-2000 20125
3.33, 2000 201,27
J1111-2000 20130
J.11.2000. 201.,31.
111111-2000-20132
1,11 2000 201,33
JJJ-2000-20151
1.:11, 2000 201.80
J J J-2000-20199.
J.J.'J 2000 20201.
JJJ-2000-20210
11.1 2000 20530
111-2000-20540
1.1.1. 2000 2061.0
FEDERAL INCOME TAX PAYABLE
MEDICARE PAYABLE
CHILD SUPPORT PAYABLE
CREDIT UNION PAYABLE
IRS LEVY PAYABLE
NATIONWIDE DEFERRED COMP
HEALTH INSUR PAY -EMPLOYEE
TMRS PAYABLE
ROTH IRA PAYABLE
WORKERS COMP PAYABLE
FICA PAYABLE
TEC PAYABLE
STUDENT LOAN LEVY PAYABLE
ALIMONY PAYABLE
BANKRUPTCY PAYABLE
VALIC DEFERRED COMP
ICMA PAYABLE
EMP. LEGAL SERVICES PAYABLE
FLEXIBLE SPENDING ACCOUNT
EDWARD JONES DEFERRED COMP
EMP CARE FLITE
Unemployment Comp Payable
ACCRUED WAGES PAYABLE
ADDIT EMPLOYEE INSUR PAY
MISC PAYROLL PAYABLE
AP PENDING
ACCOUNTS PAYABLE
PROPERTY TAXES PAYABLE
NOTES PAYABLE
RETAINAGE PAYABLE
Balance
12,967,899.08
0.00
0.00
2,000.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
717,000.00
0.00
14,645,353.88
0.00
0.00
1,010,500.00
29,342,752.96
0.00
0.00
0.00
0.00
0.00
0.00
-2,532.53
220.67
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
1,699.96
0.00
-3.00
13.70
0.00
49.46
0.00
0.00
0.00
0.00
1,010,500.00
131,203.59
29,342,752.96
1211812024 Item B.
Balance Sheet
Account Summary
As Of 11/30/2024
1 0,2,1 'b:w'? ,(1
13
Balance Sheet
1211812024 Item B.
As UT 11/3U/ZUZ4
Account
111-2000 20m010
1.11,.20110 222I0
111 2000 22275
1.1,1, 2000 12280
111 2000 22915
Equity
111-3000- 3-4110
113 $yY00 34590
Total Revenue
Total Expense
Revenues Over/Under Expenses
Name Balance
DUE TO GENERAL FUND 0.00
DEFERRED INFLOW 0.00
DEF INFLOW - LEASE PRINCIPAL 0.00
DEFERRED INFLOW - LEASE INT 0.00
RENTAL DEPOSITS 1,200.00
Total Liability: 1,142,351.85
FUND BALANCE - RESERVED 0.00
FUND BALANCE-UNRESERV/UNDESIG 28,566,712.00
Total Beginning Equity: 28,566,712.00
78,170.33
444,481.22
-366,310.89
Total Equity and Current Surplus (Deficit): 28,200,401.11
Total Liabilities, Equity and Current Surplus (Deficit): 29,342,752.96
I 0,2d ,b:9') 2 I ,(1
14
Balance Sheet
Account Name
Balance
Fund: 922 - GEN LONG TERM DEBT (WEDC)
Assets
Total Assets:
0.00 0.00
Liability
922-2.00 -28248 GOVCAP LOAN/SERIES 2022
7,281,368.05
Total Liability:
7,281,368.05
Total Equity and Current Surplus (Deficit):
0.00
Total Liabilities, Equity and Current Surplus (Deficit): 7,281,368.05
***FUND 922 OUT OF BALANCE*** -7,281,368.05
1211812024 Item B.
As UT 11/3U/ZUZ4
***Warning: Account Authorization is turned on. Please run the Unauthorized Account Listing Report to see if you are out of balance due to missing
F15
1211812024 Item 8.
Wylie Economic Development Corporation
SALES TAX REPORT
November 30, 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
$ 374,686.38
$ 35,959.83
JANUARY
$
262,263.52
$ 326,207.92
$ 368,377.73
$ 393,994.39
$ 25,616.67
FEBRUARY
$
456,571.35
$ 417,896.79
$ 480,381.11
$ 265,491.94
$ (214,889.17)
MARCH
$
257,187.91
$ 305,605.50
$ 313,686.17
$ 577,757.71
$ 264,071.54
APRIL
$
221,881.55
$ 265,773.80
$ 310,050.94
$ 341,335.06
$ 31,284.12
MAY
$
400,371.70
$ 401,180.20
$ 434,878.33
$ 448,671.55
$ 13,793.21
JUNE
$
290,586.92
$ 343,371.26
$ 330,236.89
$ 377,949.25
$ 47,712.37
JULY
$
314,559.10
$ 331,432.86
$ 379,162.00
$ 374,225.20
$ (4,936.80)
AUGUST
$
390,790.76
$ 429,696.16
$ 448,253.70
$ 463,185.29
$ 14,931.59
SEPTEMBER
$
307,681.15
$ 337,512.61
$ 371,880.65
$ 408,571.56
$ 36,690.91
OCTOBER
$
326,382.38
$ 346,236.36
$ 377,466.67
$ 402,154.81
$ 24,688.13
NOVEMBER
$
411,813.32
$ 392,790.84
$ 458,694.91
$ 446,217.04
$ (12,477.87)
Sub -Total $ 3,875,470.98 $ 4,161,281.96 $ 4,611,795.64 $ 4,874,240.16 $ 262,444.52
10.62%
6.95%
-44.73%
84.18%
10.09%
3.17%
14.45%
-1.30%
3.33%
9.87%
6.54%
-2.72%
8.37%
Total $ 3,875,470.98 $ 4,161,281.96 $ 4,611,795.64 $ 4,874,240.16 $ 262,444.52 8.37%
W111:.DC Sallies rax Ainalllysis
$700,000
$600,000
$S00,000
$400,0 :)0
2023
$300,000
IIIIIII 2.02.4
$200,000
$100,000
$0
41ac �t
>m Ilan 1��a Oy
Sales Tax collections typically take 2 months to be reflected as Revenue. SIsTx receipts are then accrued back 2 months.
Example: November SIsTx Revenue is actually September SIsTx and is therefore the 12th allocation in FY24.
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1 1211812024 Item 1. 1
WYLIEIJ::
Meeting Date: December 18, 2024
Prepared By: Jason Greiner
Wylie Economic Development
AGENDA REPORT
Item Number:
Consider and act upon issues surrounding the Performance Agreement between the WEDC and MLKJ Investments, LLC.
As the Board will recall, the WEDC approved a Performance Agreement with MLKJ Investments, LLC in the amount of
$80,000 on November 15, 2023.
According to Section 2. (a) of the Performance Agreement, the CC deadline for this project is one year after the effective
date of 12-1-23:
2, 'rhe'WEI)C's oNigation. to provide Company with the
Economic Assistance stipiflated abovc is oxpres,,sly contingent upon Cornpany cuniplelhqg the
6ollowing. kniq (die "flerformance Obligations")- by the due dates set forth bclow:
�11 11-11,11,111,111,111,ll,",""'I ...............
(a) YcarOtw. Ecoriornic Assistance will be provided to the Cornpany in the. form
of(i), forgiveness ofa portion Mftl)e Seller Note inani airloilin Doi to cxcced Fifty Thousand
Dollars($50,00101.00) plus ariy accrucd inkorest, and (i) payment of aqualified !infrastructure
j�ncerifivc in an anion nt not, to cicoed 17'ortyThousand Doliars ($40,,()00 00) upoin cc')rnpletiurl
of the k0lowing Perfumiance Obli,gation.,; for Year One;
i. (2c)n1pany Shall C1(,)n.Strt]ct or, cause to be constructed Building A on the
Property, as evidenced by a Certificate of Complefii,)ji (V latter fronii the City's Chief
Building Official (a "Certificate of Coi q ip Building A,, no Later than one
(1) year Liter the E'Mcfive Date of t1iis Agreement (the "Bui,lidin,A CC lkadfine
provided, however, that (Ilompany sh,al I havc the right to extend the Buflding,u� C
18
1 1211812024 Item 1. 1
Deadline Iwo (2) tinies for periodso I', ninety (90)additional days each by providing
'written, n0ficc Olereof to NNTDC prior to, the Building A. CC Deadline;
ii, Complany shallsupply diocuinentation to the W I DC, verHyingthelotal
protect cost as evidenced by paid iiavoices. no Wer than file Building A CC Deadline,
iii, Co�lllpaitly shall SuIll,)ly docunientation to 1hQ'WFDC that the Qvafilficd
lafntstructure for Building A has been eurnpleted and that the cos't of coristructing fhe-
Qualified Infrastructure R)ir Building A wa.,,i Last'Ywoi i lundred Eighty I'll ousia nd
Dollars ($28io,00101.0,01), noi later tltan 1he Hudding A C(' Deadline; and
iv. Conipany shall be currcnt on, will ad valoren.l. wNes, and other property
laxes due on, Lhc Prolicrty through the Ruilding A CC' De�adline and provide written
1106CO alld evidetice of' such payint-,rit to "i'in a forryi &&s1ractioty to WFDC; and
V. Conapany shall supply doeun'aentaflon tan the WILDC'on or before the
B.iifdliig A CC" Dvadline that Conipany has paid on time all Ices msociatcd with
cons,truction of 11W[ding A including, but n,ot limit"I to, Building Permit Fee
llhirnbiniZ, Mechanical, and Electrical PermiL Fees, Fire Inspectioti Fee, Firc
Departalum Man Review Fee Firie Developincilt Fee., 11oroughfarc Irrnpaact Fee,
Water & Sewer Impact Fees, third party review of lire Sprinkle and Fire Alarm
plans, and ali other inspection teQ,; not specifically named that may Inc. applicable U)
the construction of Ruilding,A.
This item is being brought back to the Board for consideration due to delays in the construction timeline.
Attachment
0 Performance Agreement
1 1211812024 Item 1. 1
BETWEEN
WYLIE ECONOMIC DEVELOPMENT CORPORATION
AND
MLKJ INVESTMENTS, LLC
This PERFORMANCE AGREEMENT (the "A reemg.tit") is entered into by and between
g,— —
the YLIE ECONOMIC DEVELOPMENT CORPORATION, a Texas corporation (11)KE—DC11)
and'MLK.J INVESTMENTS LLC, aTexas limited liability company ("(,'.9nipany").
RECITALS:
WHEREAS, Company is purchasing from the WEDC, Lots 2, 3, and 4 of Wyndam Estates,
Phase 111, an Addition to the City of Wylie, Collin County, Texas, according to the plat thereof
recorded in VolunicF, Page 579, Plat Records of Collin County, Texas (the "Property"), for the
purchase price of P'Ne Hundred Thousand and N61100ths Dollars ($500,000,00), according to the
terms and conditions of a Real Estate Sales Contract by and between the parties dated Septernber2l,
2022 (the "Contract");
WHEREAS, pursuant to the terms of the Contract, at closing, the Company shall pay
WEDC the sum of $300,000.00 in cash, with the balance of the purchase price being in the form of a
promissory note executed by Company and payable to WEDC in the amount of $200,000.00 (the
"Seller Note"), which is secured by a Deed of Trust upon the Property ("Deed of Trust");
WHEREAS, Company intends to construct on the Property (i) a new spec office building
containing at least 25,000 square feet of space ("Buildin , A"), and (4) a new spec office building
j=,_-
containing at least 20,000 square feet of space ("Building B" and together with Building A, the
"Imprqyj(-Lnents");
WHEREAS, Company may qualify for forgiveness of all or a portion of the debt evidenced
by the Seller Note in accordance with the terms of the Seller Note, subject to Company's satisfaction
of the Performance Obligations set forth below;
WHEREAS, Company has also requested financial and/or economic assistance from the
WEDC to plan and construct certain infrastructure improvements to assist in the development of
Building A. and Building B, consisting of economic assistance for all hard and soft costs relating to
the construction of public infrastructure and site improvements on or adjacent to the Property; and
WHEREAS, Section 501.103 of (lie Act states that the WEDC may provide funding for
expenditures that are found by the Board of Directors to be required or suitable for infrastructure
necessary to promote or develop new or expanded business enterprises, limited to streets and
roads, rail spurs, water and sewer utilities, electric utilities, or gas utilities, drainage, site
improvements, and related improvements (the "( u�Ali ed Infrastructure"); and
WHEREAS, Company proposes to use the economic incentives for the construction of
the Qualified Infrastructure which will include approved public infrastructure improvements and
Performance Agreement Between Wylie Economic Development Corporation and MLKJ Investments LIX
Page I
3674179vl
F 20
1 1211812024 Item 1. 1
site improvements as may be amended from time to time, necessary for the development of the
Property; and
WHERrq,AS, the WEDC has found that the Qualified Infrastructure is necessary to promote
or develop new or expanded business enterprises in the City and the WEDC has concluded that the
Qualified Infrastructure constitutes a "project", as that term is defined in the Act, and is willing to
provide Company with economic assistance as hereinafter set forth on the terms and subject to the
conditions as stated herein and Company is willing to accept the same subject to all terms and
conditions contained in this Agreement; and
WHEREAS, for the public purpose of promoting economic development and diversity,
increasing employment, reducing unemployment and underemployment, expanding commerce and
stimulating business and commercial activities in the State of Texas, and the City of Wylie, the
WEDC desires to offer economic assistance to Company as more particularly described in this
Agreement.
NOW, 'I for and in consideration of the promises, covenants and agreements
set forth herein, the receipt and sufficiency of which are hereby acknowledged., the WEDC and
Company agree as follows:
I . Economic Assistance. Subject to the terms of this Agreement and provided Company
is not in default, the WEDC will provide Company economic assistance in the form of (a)
forgiveness of all or a portion of the Seller Note over a three (3) year period, in an amount not to
exceed $200,000.00, plus interest in the aggregate, and (b) perflon-nance incentives in an amount not
to exceed $80,000.00 in the aggregate (collectively, the "Economic Assistance") upon completion of
the Performance Obligations set forth below. The total amount of economic assistance and/or
incentives to be paid to the Company, including forgiveness of the Seller Note and payment ofthe
qualified infrastructure incentives, shall not exceed the cumulative sum of Two Hundred Eighty
Thousand Dollars ($280,000.00).
2. Performance - QhligAti2pLs. The WEDC's obligation to provide Company with the
Economic Assistance stipulated above is expressly contingent upon Company completing the
following items (the "Performance ()bligations") by the due dates set forth below:
(a) Year One. Economic Assistance will be provided to the Company in the form
of (i) forgiveness of a portion of the Seller Note in an amount not to exceed Fifty Thousand
Dollars ($50,000.00) plus any accrued interest, and (ii) payment of a qualified infrastructure
incentive in an amount not to exceed Forty Thousand Dollars ($40,000.00) upon completion
of the following Performance Obligations for Year One;
i. Company shall construct or cause to be constructed Building A on the
Property, as evidenced by a Certificate of Completion or letter from the City's Chief
Building Official (a "Certificate of Co�n�letion") for Building A, no later than one
(1) year after the Effective Date of this Agreement (the "Building A CC Deadline"),
provided, however, that Company shall have the right to extend the Building A CC
Performance Agreement Between Wylie Economic Development Corporation and MLKJ Investments LLC
Page 2
3674179vl
F 21
1 1211812024 Item 1. 1
Deadline two (2) times for periods of ninety (90) additional days each by providing
written notice thereof to WEDC prior to the Building A CC Dead] ine;
ii. Company shall supply documentation to the WFDC verifying the total
project cost as evidenced by paid invoices, no later than the Building A CC Deadline;
and
iii, Company shall supply documentation to the WEDC that the Qualified
Infrastructure for Building A has been completed and that the cost of constructing the
Qualified Infrastructure for Building A. was at least 'Two I lundred Eighty Thousand
Dollars ($280,000.00) no later than the Building A CC Deadline; and
iv. Company shall be current on all ad valorem taxes and other property
taxes due on the Property through the Building A CC Deadline and provide written
notice and evidence of such payment to WEDC in a form satisfactory to WEDC; and
V. Company shall supply documentation to the WEDC on or before the
Building A CC Deadline that Company has paid on time all fees associated with
construction of Building A including, but not limited to, Building Permit Fee,
Plumbing, Mechanical, and Electrical Permit Fees, Fire Inspection Fee, Fire
Department Plan Review Fee Fire Development Fee, Thoroughfare Impact Fee,
Water & Sewer Impact Fees, third party review of Fire Sprinkle and Fire Alarm
plans, and all other inspection fees not specifically named that may be applicable to
the construction of Building A.
(b) Year Economic Assistance will be provided to the Company in the
form of (i) forgiveness of a portion of the Seller Note in an amount not to exceed Fifty
Thousand Dollars ($50,000.00), plus any accrued interest, and (ii) payment of a qualified
infrastructure incentive in an amount not to exceed Forty Thousand Dollars ($40,000.00)
upon completion of the following Performance Obligations for Year Two;
i. Company shall obtain a permanent Certificate of Occupancy from the
City for at least 12,500 square feet within Building A, no later than one (I) year after
the Building CC Deadline, as the same may have been extended (the "BUildit a A
CO Deadline");
ii. Company shall be current on all ad valorem taxes and other property
taxes due on the Property through the Building A CO Deadline and provide written
notice and evidence of such payment to WEDC in a form satisfactory to WEDC; and
iii, Company shall supply documentation to the WEDC on or before the
Building A CO Deadline confirming that Company and/or its successors or assigns
has maintained continuous ownership of Building A, or providing the WEDC with
the mane and address of each new owner or lessee of all or part of Building A, as
applicable.
Performance Agreement Between Wylie Economic Development Corporaflon and MLKJ Investments LLC
Page 3
3674179v1 —
F 22
1 1211812024 Item 1. 1
(c) Year 'Three, Economic Assistance will be provided to the Company in the
form of forgiveness of a portion of" the Seller Note in an amount not to exceed Fifty
Thousand Dollars ($5 0,000, 00), plus any accrued interest, upon completion of the following
Performance Obligations for Year Three;
i . Company shall construct or cause to be constructed Building B on the
Property, as evidenced by a Certificate of Completion or letter from the City's Chief'
Building Official (a "Certificate o C f Lornpjet ") for Building B, no later than two
(2') years after the Building A CC Deadline ('the "Buitdimz B CC Deadline");
ii. Company shall be current on all ad valorem taxes and other property
taxes due on the Property through the Building B CC Deadline and provide written
notice and evidence ol'such payment to WEDC in a form satisfactory to WEDC; and
iii. Company shall supply documentation to the WI..,'.I)C on or before the
Building B CC Deadline that Company has paid on time all fees associated with.
construction of Building 13 including, but not limited to, Building Permit Fee,
Plumbing, Mechanical, and Electrical. Permit Fees, Fire Inspection Fee, Fire
Department Plan Review Fee Fire Development Fee, Thoroughfare Impact Fee,
Water & Sewer Impact Fees, third party review of Fire Sprinkle and Fire Alarm
plans, and all other inspection fees not specifically named that may be applicable to
the construction of Building 13; and
iv. Company shall supply documentation to the WEDC on or before the
Building B CC Deadline confirming that Company and/or its successors or assigns
has maintained continuous ownership of Building B, or providing the WI DC with
the name and address of each new owner or lessee of all or part of Building B, as
applicable.
(d) Year Four. Economic Assistance will be provided to the Company in the
farm of forgiveness of a portion of the Seller Note in an amount not to exceed Fifty
Thousand Dollars ($50,000.00), plus any accrued interest, upon completion of the following
Performance Obligations for Year Four;
i. Company shall obtain a permanent Certificate of Occupancy from the
City for at least 15,000 square feet within Building B, no later than. three (3) years
after the Building A CC Deadline (the "Building B QQ Deadlime");
ii, Company shall be current on all ad valorem taxes and other property
taxes due on, the Property through the Building B CO Deadline and provide written
notice and evidence of such payment to WEDC in a form satisfactory to WEDC; and
iii. Company shall supply documentation to the WEDC verifying the total
project cost as evidenced by paid i tivoices, no later than the Building B CO Deadline;
and
Performance Agreement Between Wylie Economic Development Corporation and MLKJ investments LLC
Page 4
3674179v1—
F 23
1 1211812024 Item 1. 1
iv. Company shall supply documentation to the WEDC on or before the
Building B CO Deadline confirming chat Company and/or its successors or assigns
has niaintairled continuous ownership offluilding A and Building B, or providing the
WEDC with the name and address of each new owner or lessee of all or part of
Building A and Building B, as applicable.
3. Term of the Economic Assistance. Notwithstanding anything to the contrary herein
contained, this Agreement shall. be null and void if the Company fails to satisfy the Performance
Obligations to qualify for Economic Assistance described in paragraph 2 above (as further defined in
paragraph 5), or in the event of the following (collectively a "Default"):
(a) Any event of bankruptcy incurred by Company.
(b) 'The conveyance by Company of its interest in. the Property and Improvements
without the express written consent of the WEDC prior to the expiration of four (4) years
from the Effective Date of this Agreement, such written consent of the WEDC not to be
unreasonably withheld, conditioned or delayed..
(&) The non-payment of property taxes prior to the delinquency date imposed by
the City of Wylie, Wylie Independent School District, Collin County Community College,
and Collin County in a timely manner.
4. lament of Economic Assistance. Subject to the terms and conditions of this
Agreement, the WEDC must mark Seller Note "paid in lull", and release the Vendor's Lien and
Deed of Trust lien, upon Company satisfying the criteria to qualify for Economic Assistance for
Year One, Year Two, and Year Three, as described in paragraph 2 above, except as provided in the
last sentence of Section 5 below.
5. Event ofDefault by Co
mpany. In the event of a Default by Company, WEDC may
declare Company in Default of the Agreement in which event WEDC must provide Company with
written notice of the particular Default. Company shall have thirty (30) days from the written notice
to cure the said Default. In the event, Company -fails to cure the Default within such thirty (30) days,
the Agreement shall become null and void with all future economic incentive payments and future
forgiveness associated with the Setter Note suspended, The WEDC will not however pursue
repayment of any previous Economic Incentive payments and any past forgiveness associated with
the Seller Note.
G. Miscellaneous.
(a) This Agreement may not be assigned by Company without the prior written
consent of the WEDC, which consent shall be within the sole discretion of the WEDC.
(b) '['his Agreement contains the entire Agreement of the parties with respect to
the matters contained herein and may not be modified or terminated except upon the
provisions hereof or by mutual written agreement of the parties hereto.
Perforniance Agreement Between Wylie Economic Development Corporation and MLKJ Investments LLC
Page 5
36741790 —
F 24
1 1211812024 Item 1. 1
(c) The Agreement shall be construed in accordance with the laws of the State of
Texas and shall be per -formable in Collin County, Texas.
(d) This Agreement shall be binding upon and inure to the benefit of the parties
hereto and their respective successors and assigns.
(e) The individuals executing this Agreement on behalf of the respective parties
below represent to each other and to the others that a.] 1 appropriate and necessary action has
been taken to authorize the individual. who is executing this Agreement to do so -for and on
behalf of the party for which such signature appears, that there are no other parties or entities
required to execute this Agreement in order for the same to be an authorized and binding
agreement on the party for whom the individual is signing this Agreement and that each
individual affixing such signature hereto is authorized to do so, and such authorization is
valid and. effective on the date thereof.
(1) This Agreement is executed by the parties hereto without coercion or duress
and Im substantial consideration, the sufficiency of which is forever confessed.
(g) Any notice provided or under the terms of this Agreement by either party to
the other shall be in writing and may be effected by registered or certified mail, return receipt
requested. Notice to the WEDC shall be sufficient if made or addressed to the President,
Wylie Economic Development Corporation, 250 State highway 78 South, Wylie, "Texas
75098. Notice to Company shall be sufficient if made or addressed to 1,0104 Claiborne
Lane, Frisco, Texas 75033, until the issuance of the CO and thereafter to the address
assigned to the Property. Each party may change the address to which notice may be sent to
that party by giving notice of such change to the other parties in accordance with the
provisions of this Agreement.
(h) This Agreement may be executed in a number of identical counterparts, each
of which shall be deemed an original f-br all purposes.
(i) In case any one or more of the provisions contained in this Agreement shall
for any reason be held to be valid, illegal or unenforceable in any respect, such invalidity,
illegality or unenforceability shall not affect any other provision thereof, and this Agreement
shall be construed as is such invalid, illegal or unenforceable provision had never been
contained herein.
(j) Each signatory represents this Agreement has been read by the party for
which this Agreement is executed and that such party has had an opportunity to confer with
its counsel.
(k) Time is of the essence in the Agreement.
0) The parties agree this Agreement has been drafted jointly by the parties and
their legal representatives.
Performance Agreement Between Wylie Economic Development Corporation and M1,KJ Investments LLC
Page 6
36741790 —
F 25
1 1211812024 Item 1. 1
(m) Under Chapter 2264 of the Texas Local GOVeMMCDt Code, the Company has
submitted the required certification that the business, or a. branch, division, or department of
the business, does not and will not knowingly employ an. undocumented worker. An.
undocumented worker ineans an individual who, at the time of employment, is not lawftilly
admitted for permanent residence to the United States or authorized under the law to be
employed in that manner in the tJnited States. ffafter receiving this public subsidy/grant
from the FEDC, the Company, or a branch, division, or department of the business, is
convicted of a violation under 8 U.S.C. Section 1.324a(f), the Company shall repay the
amount of the public subsidy/grant from the FEDC with interest, at the rate and according to
the terms provided. by this Agreement under Section 2264.053, but not later than the 120th
day after the date the public agency, state or local taxing jurisdiction, or economic
development corporation notifies the Company of the violation.
[SIGNATURE PAGE FOLLOWS]
Performance Agreement Between Wylie Economic Development Corporation and MLKJ Investments 1, , LC
Page 7
3674179v1. —
F 26
1 1211812024 Item 1. 1
IN WITNESS WHEREOF, the parties have executed this Agreement and caused this
Agreement to be effective on the latest date as reflected by the signatures below (the "Effective
Date").
Wylie Economic Development Cotporation, a Texas
corporation.
By:
. . .................................... . .. . . .............. . .
.Melisa Whitehead, President
Date of Execution: I -1-02,113
. . . ............
MI,KJ Investments LLC, ,,, Texas limited liability
company
By: TIR PROFITS, INC., a Texas corporation,
Manager
By:
�-Cdnsour Khayal, President
By: Ojos Investments LIX, a Texas limited
liability company, Manager
By:
Jaime. -,ipszyc, M naje
I/� zz
Date of Execution: ? ".. .
Performance Agreement Between Wylie Economic Developinent Corporation and MLKJ Investments LLC
Page 8
3674179vl
F 27
1211812024 Item 2.
WY L I E.. °°°°°°. Wylie Economic Development
���mmmmm�� m��mm������������������,...
Board
AGENDA REPORT
Meeting Date: December 18, 2024 Item Number: 2
Prepared By: Jason Greiner
Consider and act upon Committee Appointments by the Board.
Motion to appoint
and
to the
Committee(s) of the WEDC.
Discussion
Provided for the Board's review is Section VI — Committees of the WEDC Bylaws. Section VI provides for the
qualifications and selection for Committee Membership.
Section 6.01 - Qualifications for Committee Membership.
"Members of committees shall be appointed by the President and approved by the Board. Committee members need not
be members of the Wylie Economic Development Corporation unless required by these Bylaws or Board resolution."
Per the Bylaws, Standing Committees of the Board may include:
• Budget, Finance and Audit Committee
• Committee for Business Retention and Expansion
• Committee for New Business Attraction and Recruitment
Current Committees of the Board:
• Budget, Finance and Audit Committee — Demand Dawkins and Melisa Whitehead
• New Business Attraction and Recruitment Committee — Blake Brininstool and Whitney McDougall
• Strategic Planning Committee — Demond Dawkins, Blake Brininstool, and Harold Smith
Section 6.03 — Special Committees:
"The President may determine from time to time that other committees are necessary or appropriate to assist the Board
of Directors, and shall designate, subject to Board approval, the members of the respective committees."
Section 6.04 — Term of Committee Members
"Each member of a cominittee shall continue as such until the next appointment of the Board of Directors and until his/her
successor on the committee is appointed, unless the committee shall be sooner terminated or unless such member has
ceased to serve on the Board of Directors, or unless such member be removed from such committee. Any committee
member may be removed from committee membership by the President, with Board approval, whenever in their judgment
the best interests of the Corporation would be served by such removal."
Attachment:
WEDC Bylaws, Section VI
28
1211812024 Item 2.
or governmental entity to perform and discharge designated tasks which will aid or assist the Board in the
performance of its duties. However, no such contract shall ever be approved or entered into which seeks
or attempts to divest the Board of Directors of its discretion and policy -making functions in discharging
the duties herein above set forth in this section.
ARTICLE VI
COMMITTEES
6.01 Qualifications for Committee Membership
Members of committees shall be appointed by the President and approved by the Board.
Committee members need not be members of the Wylie Economic Development Corporation unless
required by these Bylaws or Board resolution.
6.02 Standing Committees
The President shall have authority to appoint the following standing committees of the Board and
such other committees as the Board may deem appropriate in the future:
Budget, Finance and Audit Committee: This committee shall have the responsibility of working
with the Director, or the contractual entity performing as Director as the case may be, in the formation
and promotion of the annual budget of the Board. The Committee shall present such budget to the Board
and, upon approval, shall present, in accordance with these Bylaws, said budget to the City Council. In
addition to the preparation of the budget, the committee shall keep the Board advised in such matters. The
Committee shall further have the responsibility to oversee and work with auditors of the City or outside
auditors when audits of the Board are being performed.
Committee for Business Retention and Expansion: This committee shall work with the Director
of Economic Development and shall keep the Board informed of all development and activities
concerning business retention and expansion.
Committee for New Business Attraction and Recruitment: This committee shall work with the
Director of Economic Development and shall keep the Board informed of all developments and activities
concerning business attraction and recruitment.
6.03 Special Committees
The President may determine from time to time that other committees are necessary or
appropriate to assist the Board of Directors, and shall designate, subject to Board approval, the members
of the respective committees.
No such committee shall have independent authority to act for or instead of the Board of
Directors with regard to the following matters: amending, altering, or repealing the Bylaws; electing,
appointing, or removing any member of any such committee or any Director or Officer of the
Corporation; amending the Articles of Incorporation; adopting a plan of merger or adopting a plan of
consolidation with another corporation; authorizing the sale, lease, exchange, or mortgage of all or
substantially all of the property and assets of the Corporation; authorizing the voluntary dissolution of the
Corporation or revoking the proceedings thereof; adopting a plan for the distribution of the assets of the
Corporation; or amending, altering, or repealing any resolution of the Board of Directors which by its
terms provides that it shall not be amended, altered, or repealed by such committee.
29
1211812024 Item 2.
The designation and appointment of any such committee and delegation to that committee of
authority shall not operate to relieve the Board of Directors, or any individual Director, of any
responsibility imposed on it or on him/her by law or these Bylaws.
6.04 Term of Committee Members
Each member of a committee shall continue as such until the next appointment of the Board of
Directors and until his/her successor on the committee is appointed, unless the committee shall be sooner
terminated or unless such member has ceased to serve on the Board of Directors, or unless such member
be removed from such committee.
Any committee member may be removed from committee membership by the President, with
Board approval, whenever in their judgment the best interests of the Corporation would be served by such
removal.
6.05 Vacancies on Committees
Vacancies in the membership of any committee may be filled in the same manner as provided
with regard to the original appointments to that committee.
6.6 Ex-Officio Members
The City Manager or his/her designee and the Mayor or his/her designee may attend all meetings
of the Board of Directors or Committees. These representatives shall not have the power to vote in the
meetings they attend. Their attendance shall be for the purpose of ensuring that information about the
meeting is accurately communicated to the City Council and to satisfy the City Council obligation to
control the powers of the Corporation.
ARTICLE VII
FINANCIAL ADMINISTRATION
The Corporation may contract with the City for financial and accounting services. The Corporation's
financing and accounting records shall be maintained according to the following guidelines:
7.01 Fiscal Year
The fiscal year of Corporation shall begin on October 1 and end on September 30 of the
following year.
7.02 Budget
A budget for the forthcoming fiscal year shall be submitted to, and approved by, the Board of
Directors and the City Council of the City of Wylie. In submitting the budget to the City Council, the
Board of Directors shall submit the budget on forms prescribed by the City Manager and in accordance
with the annual budget preparation schedule as set forth by the City Manager. The budget shall be
submitted to the City Manager for inclusion in the annual budget presentation to the City Council.
7_01 Contrnctc
As provided in Article V above, the President and Secretary shall execute any contracts or other
30
1211812024 Item DS1.
WY L I E.. °°°°°°. Wylie Economic Development
���mmmmm�� m��mm������������������,...
Board
AGENDA REPORT
Meeting Date: December 18, 2024 Item Number: DS1
Prepared By: Jason Greiner
Discussion and updates from WEDC Committees.
No action is requested by staff on this item.
Committee members and staff will hold a discussion and provide updates from WEDC Committees.
31
1211812024 Item DS2.
WY L I E.. °°°°°°. Wylie Economic Development
���mmmmm�� m��mm������������������,...
Board
AGENDA REPORT
Meeting Date: December 18, 2024 Item Number: DS2
Prepared By: Jason Greiner
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/Real Estate
Staff have been in ongoing communication with mowing services regarding the maintenance of lots.
Sale of Lot 1 of Cooper Plaza is scheduled to take place on December 17". Final issues related to the CCRs are
being worked through, and staff is hopeful that the closing will take place this week.
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 prepared an exhibit that shows potential fence locations along the UPRR ROW.
• KH is waiting on the City of Wylie downtown project for the regional drainage solution.
Engineering Report:
Design & Engineering - 544 Gateway Addition — Kimley Horn (KH)
• Project is under construction with KH providing construction management as needed. Ongoing bi-weekly
coordination meetings are being held with the City, contractor, KH, and WEDC.
• Ongoing issue with Frontier regarding a duct bank that conflicts with the construction plans. Due to the conflict,
Tiseo has submitted a request to freeze time on this project until the duct bank can be relocated. Staff has made
repeated attempts to get resolution on this item, as well as issues with overhead utilities, and will continue.
According to Oncor, the remaining overhead utilities are owned by Frontier Telecom, Wylie ISD Fiber, and
Suddenlink CATV. Oncor has notified each of them that they need to transfer their utilities to the new poles.
Staff will continue follow-up as needed.
The TxDOT permit was approved for Frontier/duct bank work, and the Frontier ROW permit was approved by
the City.
KH will provide two additional concept exhibits for Lot 3. One will be parking only for Lot 5 and overflow for
Lot 1. The other exhibit will show office/retail space with parkin4.
32
1211812024 Item DS2.
• Staff is working with KH to explore the option of modifying plans to eliminate the decel lane so that the project
can move forward despite continual issues with utilities.
Design & Engineering - FM 544 Commercial — Special Planning Area
• KH will 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.
State Hwy 78 TxDOT Improvements
• The project is currently under construction, with KH providing construction management as needed.
Design & Engineering - Cooper Plaza - State Hwy 78 & Brown
• The City is reviewing submittals.
• The project is under construction, with KH providing construction management as needed. Ongoing bi-weekly
coordination meetings are being held with the City, contractor, KH, and WEDC.
• McMahon will submit the RFI for bollard clarification.
RFI #5.1 is currently under review by the City.
Staff is working on coordination between the contractor, Vasquez Engineering, and the City of Wylie for
clarity regarding project issues.
Final Plats for Cooper Plaza have been signed and submitted to Collin County.
Flood Study & Drainage Study- Hooper/Steel/Regency Business Park (KH)
• Existing storm sewer analysis is nearly complete. KH to schedule a meeting with EDC to review
findings/recommendations.
• KH is preparing an IPO for the final design of the Option 6 improvements for FY 25 (pending existing storm
sewer recommendations).
• KH will submit a concept plan for maximum buildable acreage on SWC of Hooper and Steel Road.
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 sanitaiy 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 and held a recent meeting to discuss options for ROW.
KH will 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 the development's "theme."
• Once the 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
33
1211812024 Item DS2.
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.
• Distribution easement documents have been received from Atmos. Staff is in the process of coordinating
signatures for the easements from the property owners and has provided updated signature block information to
Atmos. Once staff receives the last set of signatures, the documents will be sent to Atmos for filing.
BRE & Workforce Updates:
• No BRE visits were conducted in November, but multiple follow-up meetings were held based on information
gleaned during prior BRE visits, including two employers with expansion plans.
• WEDC met with Helm Dental Laboratory to explore assistance for workforce development due to the acquisition
of government contracts. Facilitated a meeting between Wylie ISD/Helm to explore workforce development
options, specifically Internship/Practicum program implementation aimed at CAD programming students.
• Launched registration for the Leadership Skills Development training program, Bridging the Skills Gap:
Equipping Emerging Leaders for Success.
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, and property owners continue.
• Worked with legal regarding ongoing real estate projects and performance agreements.
• Staff attended the community Thanksgiving Luncheon hosted by Lutz Woodworking.
• Staff attended a Bryan, TX, community tour and met with the Economic Development Director/City
Management/Mayor. (MP, BP, JG, RH)
• Staff attended the Chamber of Commerce Breakfast featuring Wylie Community Christian Care Center.
• Participated in the ongoing Leadership Wylie Classes. This month featured the City of Wylie and Wylie EDC,
with tours provided onsite by Deanan Gourmet Popcorn and Glen Echo Brewing. (MW, MB, JG, RH)
• Staff attended the annual City of Wylie Thanksgiving Luncheon. (RH, AW, MB, CS)
• Attended 30t' Annual North Texas CCIM Sporting Clays Tournament (BB, JG)
• Attended Collin Leadership Policy Summit (AW)
• Sales tax revenues for December are up 4.25%.
Upcoming Events:
• ICSC Red River — January 29-31, 2025
• Project U —February 18, 2025
• 5 Loaves Gala — March 8, 2025
• Boots `N Barbecue — March 29, 2025
Please see the attached Marketing Calendar for the full list of upcoming events.
34
����o�o��o�o�o ��hii«�mw. 0����5f7j�ll���� 0����ti�����- ���� �loi�i���m��. Y L I E p 12/18/2024W Item DS2.
���«���nn�� ����������� "'�557�9�� �I�i�������� �����«����� 0���N��������Ilb ��� �! ��Il�n����� T
2024 November Board Meeting - 201n
Day Time Meeting/Event
5 8:30 am WDMA Meeting
6 301n Annual North Texas CCIM Sporting Clays Tournament
CIIl09!1'iiiillC"), Vet ei^aas IC'a
.........C'liit Il ls�llliirla
y...................... y..................................2
12 6:00 pm City Council - Nat'l App Wk, Nat'l Entr Day, Sm Business Sat Recognition
13 8:30 am Collin Leadership Policy Summit, Collin College Frisco - aw
14-15 TML Economic Development Conference — Bastrop, TX
19 8:30 am WVlie Chamber Breakfast featuring Wylie Community Christian Care Center
20 7:30 am WEDC- Board Meeting
21 Leadership Wylie — WEDC Driving Tour / Business Tour
22' 29 FIII ',)S! Ill) .III°IIhall ll lguiviiti�g III°lellliiida
2024 December
Board Meeting — 18tn
Day
Time
Meeting/Event
2
TEDC Sales Tax Workshop — Virtual - mb
5
8:30 am
WDMA Meeting
5-6
TEDC Board Retreat — ig
6
9:00 am
Governor's Small Business Summit — ag, cs
6
6:00 pm
Chamber Elfin Gala — Boyd Farm, Lavon
10
6:00 pm
City Council
11
11:30am
2024 CCBA Anniversary Luncheon — ag, cs
17
5:00-7:00 pm
Chamber Ambassador Reception
18
7:30 am
WEDC- Board Meeting
2����.t..��y�
5
�
t:'�IIL.�V211111111'V
C surlMrr.ias Ili °°lo liidee
2025 January Board Meeting — 151n
Day Time Meeting/Event
i CII 09! III) New 2yeuir s [)ay III Illgsll illa
7 8:30 am WDMA Meeting
9 11:30 am City of Wylie's Annual Employee Banquet
14 6:00 pm City Council
15 7:30 am WEDC- Board Meeting
20 CU;')S2, Q .... Martiiin. ll ii%Illlmeu Illtiiii,igti�� lleliii yy
27-28 TEEX Training — ig
28 6:00 pm City Council
29-31 ICSC Red River- Dallas — ma. dd. bb. hs. mw. ie. rh
Around the Corner...
• Project U 2025 — Burleson — February 18 *RSVP Required
• Entertainment Experience Evolution — Las Angeles — February 25-26
• TEDC Winter Conference — February 26-28
• 5 Loaves Gala — Garland — March 8 *RSVP Required
• Boots 'N Barbecue — Wylie ISD Education Foundation — March 29 *RSVP Required
35