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01-15-2025 (WEDC) Agenda Packet Wylie Economic Development Corporation WYLIEEDC Board Regular Meeting January 15, 2025—7:30 AM WEDC Office Conference Room-250 South Highway 78,Wylie, Texas 75098 CALL TO ORDER INVOCATION& PLEDGE OF ALLEGIANCE 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 December 18, 2024 Regular Meeting of the WEDC Board of Directors. & Consider and act upon approval of the December 2024 WEDC Treasurer's Report. REGULAR AGENDA 1. Consider and act upon issues surrounding the Performance Agreement between the WEDC and Phoenix Ascending Investments,LLC. DISCUSSION ITEMS DS1. Discussion and updates regarding Discover Wylie. DS2. Staff report: WEDC Property Update, Temporary Access Agreements, Downtown Parking, Engineering Report,Upcoming Events, and WEDC Activities/Programs. EXECUTIVE SESSION See. 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. 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. 1 Sec. 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. Sec. 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-Ic, 2023-1c, 2023-2d, 2023-1la, 2023-1lb, 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,2024-12a,2024-12b,2024-12c,2025-1a,2025-1b,and 2025-1 c. 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 January 1.0, 2025 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 2 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. 3 01115120251tem A. Minutes Wylie Economic Development Corporation Board of Directors Regular Meeting December 18, 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 Assistant City Manager Lety Yanez 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 Demond Dawkins 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 November 20,2024,Regular Meeting of the WEDC Board of Directors. B. Consider and act upon approval of the November 2024 WEDC Treasurer's Report. Board Action A motion was made by Whitney McDougall, seconded by Blake Brininstool, to approve the Consent Agenda as presented. A vote was taken, and the motion passed 5-0. President Dawkins moved to Discussion items. DISCUSSION ITEMS DSl. Discussion and updates from WEDC Committees. Staff Comments Staff opened discussion for an overview of the Committee for New Business Attraction and Recruitment's tour of Little Elm, which included retail developments, an entertainment facility, 01115120251tem A. WEDC-Minutes December 18, 2024 Page 2 of 3 baseball/softball fields, and lake access. The committee discussed what challenges Little Elm has faced and what has benefited their community. DS2. 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. Regarding real estate updates, Staff noted the closing of the McClure property at Hwy 78 and Brown scheduled for December 19". Regarding the Engineering Report, Staff provided updates on 544 Gateway Addition, Cooper Plaza, and Westgate. Staff discussed a Leadership Skills Program made available through Collin College that will benefit local businesses, noting that the City of Wylie will also participate in the program. Staff noted a 4.25%increase in sales tax revenues for the month of December. EXECUTIVE SESSION Recessed into Closed Session at 7:45 a.m. in compliance with Section 551.001, et. seq. Texas Government Code,to wit: Sec. 551.072. DELIBERATION REGARDING REAL PROPERTY; CLOSED MEETING. ESl. 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. 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, 2022-1b, 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, 2024-11 a, 2024-11b, 2024-11 c, 2024-1l d, 2024-1.1e,2024-12-a, 2024-12b, and 2024-12c. RECONVENE INTO OPEN SESSION Take any action as a result of the Executive Session. President Dawkins reconvened into Open Session at 9:09 a.m. and then moved to Regular Agenda Item 1 and Regular Agenda Item 2. 1. Consider and act upon issues surrounding the Performance Agreement between the WEDC and MLKJ Investments,LLC. Board Action 01115120251tem A. WEDC—Minutes December 18, 2024 Page 3 of 3 A motion was made by Whitney McDougall, seconded by Blake Brininstool, to approve a First Amendment to the Performance Agreement between the WEDC and MLKJ Investments, LLC, amending the`Building A CC Deadline"in Section 2(a). i. from one(1)year to 18 months and further authorize the Executive Director to execute any and all necessary documents. A vote was taken, and the motion passed 5-0. 2. Consider and act upon Committee Appointments by the Board. Board Action A motion was made by Melisa Whitehead, seconded by Harold Smith, to create a Staffing and Compensation Committee and appoint Melisa Whitehead, Whitney McDougall, and Harold Smith to that Committee. A vote was taken, and the motion passed 5-0. FUTURE AGENDA ITEMS The Board requested that the Staffing and Compensation Committee meet on 1/24/25 at 8:00 a.m. in the WEDC Conference Room and Notice of Quorum will be posted 72 hours in advance. ADJOURNMENT With no further business,President Dawkins adjourned the WEDC Board meeting at 9:12 a.m. Demond Dawkins,President ATTEST: Jason Greiner,Executive Director 01115120251tem B. WYLIEEDC Wylie Economic Development Board AGENDA REPORT Meeting Date: January 15, 2025 Item Number: B Prepared By: Jason Greiner Consider and act upon approval of the December 2024 WEDC Treasurer's Report. Recommendation I Motion to approve the December 2024 WEDC Treasurer's Report. Presented for the Board's review and approval is the December 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, Performance Agreement Summary, and the Quarterly Inventory Subledger. REVENUES: Sales Tax Revenue earned in October allocated in December was$390,604.04,an increase of 4.25%over the same period in 2023. Gain/(Loss) Sale of Cap Assets $925,593.76 Sale of Lot 1-Cooper Plaza(12-19-24)/ Sold for$1,506,983.30 (Claim on Cash) EXPENSES: Incentives $200,000 Sanden International—Incentive#2—Final Special Services-Infrastructure $221,983.02 Reeder Concrete Hwy 78 &Brown—Pay#5 $428,756.24 McMahon Contracting—Hwy 78 &Brown—Pay App 2 $15,684.50 Tiseo Paving Company—FM 544 Gateway—Est#6 and Est#7 $731,166.94 McMahon Contracting—Hwy 78 &Brown—Pay App 3 7] 01115120251tem B. WYLIEECONOMIC Dec. Rev/Exp Report DEVELOPMENT Account Summary For Fiscal: 2024-2025 Period Ending: 12/31/2024 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 171-4000-40210 SALES TAX 4,990,217.00 4,990,217.00 0.00 0.00 -4,990,217.00 100.00% ___________ Category:400-Taxes Total: 4,990,217.00 4,990,217.00 0.00 0.00 -4,990,217.00 100.00%m.00%Category:460-Interest Income 111 4000-46110 ALLOCATED INTEREST EARNINGS 112,000.00 112,000.00 34,958.81 110,229.14 -1,770.86 1.58% Category:460-Interest Income Total: 112,000.00 112,000.00 34,958.81 110,229.14 .m_m_m...... 10,229.14 1,770.86 1.58% Category:480-Miscellaneous Income 111-4000-48110 RENTAL INCOME 4,800.00 4,800.00 400.00 2,900.00 -1,900.00 39.58% 11.1-4000-48410 MISCELLANEOUS INCOME 0.00 0.00 0.00 400.00 400.00 0.00% 111-4000-4843Q GAIN/(LOSS)SALE OF CAP ASSETS 4,121,530.00 4,121,530.00 925,593.76 925,593.76 -3,195,936.24 77.54% Category:480-Miscellaneous Income Total: 4,126,330.00 4,126,330.00 925,993.76 928,893.76 -3,197,436.24 77.49% Revenue Total: 9,228,547.00 9,228,547.00 960,952.57 1,03^ mm 2.90 -8,189o424.10 P mm mm%% _..... PPPm�9,122.90 -8,189,424.10 88.74% Expense Category:510-Personnel Services 111-5611-51110 SALARIES 470,558.40 470,558.40 35,313.30 104,419.32 366,139.08 77.81% 111-5611-51140 LONGEVITY PAY 2,807.68 2,807.68 0.00 2,664.00 143.68 5.12% 111-5611-5131.0 TMRS 74,649.83 74,649.83 5,593.76 16,718.12 57,931.71 77.60% 11:1-5611.-51410 HOSPITAL&LIFE INSURANCE 79,943.76 79,943.76 6,503.57 19,510.71 60,433.05 75.59% 111-5611-51420 LONG-TERM DISABILITY 1,741.07 1,741.07 80.80 242.40 1,498.67 86.08% 111-5611-51440 FICA 29,348.70 29,348.70 2,047.93 6,215.85 23,132.85 78.82% 1 11-5 611-5 1450 MEDICARE 6,863.81 6,863.81 478.95 1,453.68 5,410.13 78.82% 111-561.1-51470 WORKERS COMP PREMIUM 994.07 994.07 0.00 724.00 270.07 27.17% 111-5 6 11-5 1480 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 50,018.31 151,948.08 515,544.24 77.24% Category:520-Supplies 111-'1611-52Q10 OFFICE SUPPLIES 5,000.00 5,000.00 106.62 392.11 4,607.89 92.16% 111-561.1.-52040 POSTAGE&FREIGHT 300.00 300.00 219.00 223.85 76.15 25.38% 1.:11-5611.-52810 FOOD SUPPLIES 3,000.00 3,000.00 342.91 559.36 2,440.64 81.35% Category:520-Supplies Total: 8,300.00 8,300.00 668.53 1,175.32 7,124.68 m 85.84%84% 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% 11,1-5611-54810 COMPUTER HARD/SOFTWARE 7,650.00 7,650.00 0.00 0.00 7,650.00 100.00% ......................__....m_-_m................ ._..... _.-........_m.. n 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 111-5611-560 0 INCENTIVES 1,741,250.00 1,741,250.00 200,000.00 200,000.00 1,541,250.00 88.51% 111-5611.-56040 SPECIAL SERVICES 87,270.00 87,270.00 410.00 567.50 86,702.50 99.35% 1.11-561.1-56041 SPECIAL SERVICES-REAL ESTATE 71,000.00 71,000.00 2,254.83 3,909.66 67,090.34 94.49% 111-5611.-56042 SPECIAL SERVICES-INFRASTRUCTUR 9,020,667.00 9,020,667.00 1,397,590.70 1,439,572.34 7,581,094.66 84.04% 111-5611.-56080 ADVERTISING 226,125.00 226,125.00 17,012.60 42,195.18 183,929.82 81.34% 111-561.1-56090 COMMUNITY DEVELOPMENT 74,450.00 74,450.00 3,311.54 11,219.46 63,230.54 84.93% 11:1-561.1.-56110 COMMUNICATIONS 7,900.00 7,900.00 521.04 1,032.08 6,867.92 86.94% 111-5611.-56180 RENTAL 27,000.00 27,000.00 2,250.00 6,750.00 20,250.00 75.00% 1:11-5611-56210 TRAVEL&TRAINING 95,500.00 95,500.00 8,103.37 22,298.12 73,201.88 76.65% 111-5611-56250 DUES&SUBSCRIPTIONS 91,053.00 91,053.00 6,321.90 39,246.17 51,806.83 56.90% 111-5611-56 s10 INSURANCE 6,800.00 6,800.00 0.00 5,816.85 983.15 14.46% 111-5611.-56510 AUDIT&LEGAL SERVICES 53,000.00 53,000.00 6,558.60 6,558.60 46,441.40 87.63% 1.11-5611-56570 ENGINEERING/ARCHITECTURAL 855,300.00 855,300.00 17,604.47 19,279.47 836,020.53 97.75% 1.11-561.1.-56610 UTILITIES-ELECTRIC 2,400.00 2,400.00 186.14 391.48 2,008.52 83.69% 119/202 1 1:['2°20 PM Cage 1 of 4 1-81 1 0111512025 Item B. Budget Report For Fiscal:2024-2025 Variance Original cv,mnt penvu nao| pmmmme pene,u Total Budget Total Budget Activity «cmvxv (Unfavorable) Remaining cateoory:sou Contractual Services Total: 12,359,715.00 12'359'715.00 1'662'125.19 1.798'836y1 10,560,878.09 xs.«s% cateoury:s7u Debt Service m Capital Replacement 111-5611574.l01 PRINCIPAL PAYMENT aus'*w.00 aoa.,o«»o za'o/o.u* zzn'sop.so 478'234/4 ,u.m% 111-5611-574.1.5 INTEREST EXPENSE 625253*0 *2525360 mxoa,* 12376349 50149011 oozzm categorv:sm Debt Service m Capital Replacement Total: 1.231'997a4 1'231'997.6* «a.ysyus 252.272.79 e79,724.85 79.52% Category:sou'Capital Outlay ��58��8�� LAND-PURCHASE PRICE z000000uo z0000000n ouo uoo zon catemorv:sxo Capital Outlay Total: 1.000,000u0 1'000000.00 0.00 0.00 1,000'000.00 mouo% Expense Total: 15.277,654y6 15'277'654y6 4759,751.88 2'204,233z0 13'073'421.86 85.57% Fund:111 mnus ECONOMIC oEveL CORP Surplus(oencu): -6.049,107.96 '6,049.107y6 '798'799.31 '1'165'110.20 4,883'997.76 xomm Report Surplus(menut): '6'049,107.96 '6'049.107.96 '798'799.31 '1,165'110.20 4,883'997.76 xomm /n/ 0111512025 Item B. Budget Report For Fiscal:2024-2025 Period Ending:11.2/31/707717 Group Summary Variance Original Current Period Fiscal Favorable Percent Category Total Budget Total Budget Activity Activity (Unfavorable) Remaining Fund:111-WYLIE ECONOMIC DEVEL CORP Revenue 400-Taxes 4,990,217.00 4,990,217.00 0.00 0.00 -4,990,217.00 100.00% 460-Interest Income 112,000.00 112,000.00 34,958.81 110,229.14 -1,770.86 1.58% 480-Miscellaneous Income 4,126,330.00 4,126,330.00 925,993.76 928,893.76 -3,197,436.24 77.49% Revenue Total: 9,228,547.00 9,228,547.00 960,952.57 1,039,122.90 -8,189,424.10 88.74% Expense 510-Personnel Services 667,492.32 667,492.32 50,018.31 151,948.08 515,544.24 77.24% 520-Supplies 8,300.00 8,300.00 668.53 1,175.32 7,124.68 85.84% 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 1,662,125.19 1,798,836.91 10,560,878.09 85.45% 570-Debt Service&Capital Replacement 1,231,997.64 1,231,997.64 46,939.85 252,272.79 979,724.85 79.52% 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 1,759,751.88 2,204,233.10 13,073,421.86 85.57% Fund:111-WYLIE ECONOMIC DEVEL CORP Surplus(Deficit): -6,049,107.96 -6,049,107.96 -798,799.31 -1,165,110.20 4,883,997.76 80.74% Report Surplus(Deficit): -6,049,107.96 -6,049,107.96 -798,799.31 -1,165,110.20 4,883,997.76 80.74% 1/9/2 02 3:t2 20 PM Page 3 of 4 10 01115120251tem B. Budget Report For Fiscal:2024-2025 Period Ending:12/31/707717 Fund Summary Variance Original Current Period Fiscal Favorable Fund Total Budget Total Budget Activity Activity (Unfavorable) 111-WYLIE ECONOMIC DEVEL CORP -6,049,107.96 -6,049,107.96 -798,799.31 -1,165,110.20 4,883,997.76 Report Surplus(Deficit): -6,049,107.96 -6,049,107.96 -798,799.31 -1,165,110.20 4,883,997.76 1/9/202 t:t2°.20 PM Page 4 of<t 11 1 01115120251tem B. Wylie Economic Development Corporation Statement of Net Position As of December 31, 2024 Assets Cash and cash equivalents $ 13,519,693.76 Receivables $ 717,000.00 Note 1 Inventories $ 14,063,964.34 Prepaid Items $ - Total Assets $ 28,300,658.10 Deferred Outflows of Resources Pensions $ 114,336.55 Total deferred outflows of resources $ 114,336.55 Liabilities Accounts Payable and other current liabilities $ 897,856.30 Unearned Revenue $ 1,200.00 Note 2 Non current liabilities: Due within one year $ 556,711.54 Note 3 Due in more than one year $ 14,528,089.43 Total Liabilities $ 15,983,857.27 Deferred Inflows of Resources Pensions $ (8,336.41) Total deferred inflows of resources $ (8,336.41) Net Position Net investment in capital assets $ - Unrestricted $ 12,422,800.97 Total Net Position $ 12,422,800.97 Note 1: Includes incentives in the form of forgivable loans for$67,000(Glen Echo), $450,000(Phoenix Ascending), and$200,000(MLKI) Note 2: Deposits from rental property Note 3: Liabilities due within one year includes compensated absences of$32,301 F13 0111512025 Item B. WYLIEECONOMIC Balances eet DEVELOPMENT Account Summary As Of 12/31/2024 Name Balance Fund:111-WYLIE ECONOMIC DEVEL CORP Assets lil-1,90-1 1102 CLAIM ON CASH AND CASH EQUIV. 13,517,693.76 .111-1000-10115 CASH-WEDC-INWOOD 0.00 1LEMLE19M ESCROW 0.00 .111-1000-10190 DEPOSITS 2,000.00 Li L MQ Q__i a 1-93 OTHER-MISC CLEARING 0.00 111-1000-10341 TEXPOOL 0.00 LU 1000 fl0313 LOGIC 0100 _111-1.000-10491 INTEREST RECEIVABLE 0.00 131-'1000-11511 ACCTS REC-MISC 0.00 111-1000-1151.7 ACCTS REC-SALES TAX 0.00 L-L-1-100-USUM LEASE PAYMENTS RECEIVABLE 0.00 111-1.000-12950 LOAN PROCEEDS RECEIVABLE 0.00 111.-1000-12996 LOAN RECEIVABLE 0.00 111-1.000-129117 ACCTS REC-JTM TECH 0.00 j2l-100OA2999 ACCTS REC-FORGIVEABLE LOANS 717,000.00 111-1000-141.12 INVENTORY-MATERIAL/SUPPLY 0.00 111 _6 INVENTORY-LAND&BUILDINGS 14,063,96434 111-1000-14118 INVENTORY-BAYCO/SANDEN BLVD 0.00 111-1000-14310 PREPAID EXPENSES-MISC 0.00 111-1000-14410 DEFERRED OUTFLOWS 810,500.00 Total Assets: 29,111,158.10 29,111,158.10 Liability 111-2000-20110 FEDERAL INCOME TAX PAYABLE 0.00 111-2000-20111 MEDICARE PAYABLE 0.00 111-2000-20112 CHILD SUPPORT PAYABLE 0.00 111-2000-20113 CREDIT UNION PAYABLE 0.00 1 Ll-2000 20114 IRS LEVY PAYABLE 0.00 111-2000-20115 NATIONWIDE DEFERRED COMP 0.00 1,11-2000-20116 HEALTH INSUR PAY-EMPLOYEE 5,850.53 .111-2000-20117 TIVIRS PAYABLE 8,340.64 111-2000-20118 ROTH IRA PAYABLE 0.00 111 2000-20119 WORKERS COMP PAYABLE 0.00 111-2000-20120 FICA PAYABLE 0.00 111-2000-270121 TEC PAYABLE 0.00 111-2000-20122 STUDENT LOAN LEVY PAYABLE 0.00 111-20CIO-20123 ALIMONY PAYABLE 0.00 .111-2000-201-24- BANKRUPTCY PAYABLE 0.00 111-2000-20125 VALIC DEFERRED COMP 0.00 111-2000-20126 ICIVIA PAYABLE 0.00 .111-200.0-20122 EMP.LEGAL SERVICES PAYABLE 0.00 111-2000-20130 FLEXIBLE SPENDING ACCOUNT 2,549.94 1.11-2000-20131 EDWARD JONES DEFERRED COMP 0.00 111.-2000-20132 EMP CARE FLITS -3.00 .111-2000-201.3.3 Unemployment Comp Payable 13.70 111-200020111 ACCRUED WAGES PAYABLE 0.00 111-2000201130 ADDIT EMPLOYEE INSUR PAY 49.46 111-2000-20199 MISC PAYROLL PAYABLE 0.00 .111-2000-20201 AP PENDING 749,851.44 111-2000,20210 ACCOUNTS PAYABLE 0.00 ...I---------- 111-2000-20530 PROPERTY TAXES PAYABLE 0.00 111-2000-20540 NOTES PAYABLE 810,500.00 .111-20.02-20610 RETAINAGE PAYABLE 131,203.59 1/9/2025 12:1v1:21 PM Page i of 3 F14] 1 0111512025 Item B. Balance Sheet Account Name Balance 1,11-2000-20810 DUE TO GENERAL FUND 0.00 -111-�00-0�2-2�0 DEFERRED INFLOW 0.00 DEF INFLOW-LEASE PRINCIPAL OM 111-2000-22280 DEFERRED INFLOW oAsc/mr 0.00 Total Liability: 1'709,556.30 Equity ��1-----300-0-�4.5-9.0 pomoaxmmcc-umncscmVumocs/s 24566,712.00 ------ Total Beginning Equity: 28,566,712.00 Total Revenue 1'039'122.90 Total Expense z'uo*'zas.zo Revenues Over/Under Expenses -1'165'110.20 Total Equity and Current Surplus(oennt): 27'401,601.80 Total Liabilities,Equity and Current Surplus(oenut): 29,111,158.10 z/n/zozs 12:11:21 PM Page zor 0111512025 Item B. Balance Sheet As Account Name Balance Fund:922-GEN LONG TERM DEBT(WEDC) Assets Total Assets: 0.00 0.00 Liability 22-20002 24 GOVCAP LOAN/SERIES 2022 7,281,368.05 Total Liability: m 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 ***Warning:Account Authorization is turned on. Please run the Unauthorized Account Listing Report to see if you are out of balance due to missing 1/9/2025 12:`v1:2I PM Page 3 of 3 F16] 01115120251tem B. Wylie Economic Development Corporation SALES TAX REPORT December 31, 2024 BUDGETED YEAR DIFF % DIFF MONTH FY 2022 FY 2023 FY 2024 FY 2025 24 vs. 25 24 vs. 25 DECEMBER $ 263,577.66 $ 338,726.54 $ 374,686.38 $ 390,604.04 $ 15,917.66 4.25% JANUARY $ 326,207.92 $ 368,377.73 $ 393,994.39 $ - 0.00% FEBRUARY $ 417,896.79 $ 480,381.11 $ 265,491.94 $ 0.00% MARCH $ 305,605.50 $ 313,686.17 $ 577,757.71 $ 0.00% APRIL $ 265,773.80 $ 310,050.94 $ 341,335.06 $ 0.00% MAY $ 401,180.20 $ 434,878.33 $ 448,671.55 $ 0.00% JUNE $ 343,371.26 $ 330,236.89 $ 377,949.25 $ 0.00% JULY $ 331,432.86 $ 379,162.00 $ 374,225.20 $ 0.00% AUGUST $ 429,696.16 $ 448,253.70 $ 463,185.29 $ 0.00% SEPTEMBER $ 337,512.61 $ 371,880.65 $ 408,571.56 $ 0.00% OCTOBER $ 346,236.36 $ 377,466.67 $ 402,154.81 $ 0.00% NOVEMBER $ 392,790.84 $ 458,694.91 $ 446,217.04 $ - 0.00% Sub-Total $ 4,161,281.96 $ 4,611,795.64 $ 4,874,240.18 $ 390,604.04 $ 15,917.66 4.25% Total $ 4,161,281.96 $ 4,611,795.64 $ 4,874,240.18 $ 390,604.04 $ 15,917.66 4.25% WEDC Sales Tay Analysis $600,000 $500,000 $400,000 $300,000 2024 2025 $200,000 $100,000 $o Sales Tax collections typically take 2 months to be reflected as Revenue. SlsTx receipts are then accrued back 2 months. Example:December SIsTx Revenue is actually October SlsTx and is therefore the 1st allocation in FY25. 17 1 0111512025 1 Wylie Economic Development Corporation PERFORMANCE AGREEMENT REPORT December 31,2024 TOTAL REMAINING PREVIOUS FY TOTAL INCENTIVE AFTER PAYMENTS INCENTIVE CURRENTFY PERFORMANCE AGREEMENTS FY 2025 FY 2026 FY 2027 FY 2028 FY 2029 AMERICAN ENTITLEMENTS 11 $ 35,000.00 S 12,000.no $ - $ - $ - $ - $ 23,000.00 $ 35,000.00 AXL $ 65,000.00 S 18,500,00 $ - $ $ $ $ 46,500.00 $ 65,000.00 GLEN ECHO BREWING $ 100,000.00 S 30,000,00 $ 20,000.00 $ $ $ 20,000,00 $ 50,000.00 $ i00000.00 A MLKJ $ 80,000.00 $ 40,100 00 $ 40,000.00 $ $ $ 40,000�00 $ - $ 80,000.00 B CLF 11 1-1 WYLIE(LOVETT) $ 1,300,000.00 S 6K0010,00 $ - $ $ $ $ - $ 650,000.00 $ 1,300,000.00 PHOENIX ASCENDING $ - S - $ $ $ $ $ $ - $ - C SANDEN INTERNATIONAL $ 500,000.00 $ 200,000.00 $ $ $ $ $ $ 300,000.00 $ 500,000.00 $ 2,080,000.00 $ 950,500.00 $ 60,000.00 $ $ $ $ 60,000.00 $ 1,069,500.00 $ 2,080,000.00 Defe,,,ed 0ouff,"OVI S 8 10,500,00 A. Performance Agreeement($100,000)and Forgiveable Land Grant($100,000 forgiven over 3 years).$33,000 1-0,$33,000 in 2025,and$34,000 in 2026. B. Performance Agreeement($80,000)and Forgiveable Land Grant($200,000 forgiven over 3 years).$50,000 CO&$50,000/year in 2025,2026,&2027. C. Forgiveable Land Grant($450,000 forgiven over 4 years).$112,500 CO&$112,500/year in 2026,2027,&2028. 11-81 Wylie Economic Development Corporation °"'512025 Item B. Inventory Subledger(Land) December 31,2024 Property Purchase Date Address Acreage SF Improvements Cost Basis Sub-totals Cooper St. McMasters 7/12/05 709 Cooper 0.4750 20691 n/a $ 202,045.00 Heath 12/28/05 706 Cooper 0.4640 20212 $ 180,414.00 3,625 $ 186,934.22 Perry 9/13/06 707 Cooper 0.4910 21388 n/a $ 200,224.00 Bowland/Anderson 10/9/07 Cooper Dr. 0.3720 16204 n/a $ 106,418.50 Duel Products 9/7/12 704 Cooper Dr. 0.5000 21780 n/a $ 127,452.03 Randack 10/23/12 711-713 Cooper Dr. 1.0890 47437 n/a $ 400,334.00 Lot 2R3 7/24/14 Cooper Dr. 0.9500 41382 n/a $ 29,056.00 $ 1,252,463.75 Regency Dr. Regency Pk.! cn:racij 6/4/10 25 Steel Road 0.6502 28323 n/a $ 25,170.77 Steel/Hooper 12/29/22 Lot 2R Helmberger Industrial Park 3.6885 160671 n/a $ 345,441.57 $ 370,612.34 544 Gateway Lot 1(.under contrac.j Replat 1/23 544 Gateway Addition 1.501 65365 n/a $ 802,213.77 (Lot 6 Sold) ct 2',u cer contra t) Replat 1/23 544 Gateway Addition 1.483 64617 n/a $ 793,033.69 a` uncer Contract) Replat 1/23 544 Gateway Addition 1.244 54204 n/a $ 665,236.68 Lot 4 Replat 1/23 544 Gateway Addition 1.183 51518 n/a $ 632,271.85 Lot 5 Replat 1/23 544 Gateway Addition 2.874 125185 n/a $ 1,536,374.69 Lot 7 Replat 1/23 544 Gateway Addition 0.931 40576 n/a $ 497,982.50 $ 4,927,113.18 Downtown Heath 3/17/14 104 N.Jackson 0.1720 7492 n/a $ 220,034.00 Udoh 2/12/14 109 Marble 0.1700 7405 n/a $ 70,330.00 Peddicord 12/12/14 100 W.Oak St 0.3481 15163 n/a $ 486,032.00 City Lot 12/12/14 108/110 Jackson 0.3479 15155 n/a $ - Pawn Shop/All The Rave 1/7/22 104 S.Ballard 0.0860 3746 n/a $475,441.20 FBC Lot 6/15/16 111 N.Ballard St 0.2000 8712 n/a $ 150,964.00 FFA Village 1/7/18 102.N.Birmingham 0.1700 7405 n/a $ 99,804.00 Boyd 7/28/21 103 S.Ballard 0.0760 3311 n/a $ 328,792.20 Keefer 10/27/21 401 N Keefer Dr 0.4890 21301 n/a $ 237,951.39 Parupia 8/19/22 200 W Brown 0.0770 3354 n/a $ 159,325.57 UP Lot 9/30/22 UP Lot 0.4760 20735 n/a $ 82,126.92 Brothers JV 2/26/19 306&308 N.2nd Street 0.3770 16422 n/a $ 145,923.04 Pulliam 2/27/19 300 N.2nd Street 0.2570 11195 n/a $ 218,472.20 Swayze 4/18/19 208 N.2nd Street 0.2580 11238 n/a $ 187,501.40 Swayze 5/9/19 204 N.2nd Street 0.2580 11238 n/a $ 187,658.20 Kreymer 10/9/19 302 N.2nd Street 0.1290 5619 $ 207,286.00 1,386 $ 187,941.76 City of Wylie 5/14/20 ROW Purchase/Alleys 0.6126 26685 n/a $ 26,684.86 $ 3,264,982.74 South Ballard Birmingham Trust 6/3/15 505-607 S.Ballard 1.1190 48744 n/a $ 409,390.00 Murphy 3/7/19 701 S.Ballard 0.2000 8712 n/a $ 172,487.04 Marlow 3/31/22 305 S.Ballard 0.1865 8125 n/a $ 186,154.60 Braley 7/22/19 503 S.Ballard 0.2558 11142 n/a $ 177,397.96 $ 945,429.60 Brown&78 Lot 2 Final Plat 10/24 Cooper Plaza 1.0144 44188 n/a $ 339,071.64 (Lot 1 Sold) Lot 3 Final Plat 10/25 Cooper Plaza 0.9072 39518 n/a $ 303,236.92 Lot 4 Final Plat 10/26 Cooper Plaza 1.6154 70365 n/a $ 539,937.90 Lot 5 Final Plat 10/27 Cooper Plaza 1.8135 78996 n/a $ 606,166.90 Lot 6 Final Plat 10128 Cooper Plaza 2.9784 129737 n/a $ 995,522.25 Lot 7 Final Plat 10129 Cooper Plaza 1.5540 67692 n/a $ 519,426.93 $ 3,303,362.54 Total 34.0438 $ 387,700.00 5,011 $ 14,063,964.15 $ 14,063,964.15 11-91 0111512025Item 1. WYLIEEDC Wylie Economic Development Board AGENDA REPORT Meeting Date: January 15, 2025 Item Number: 1 Prepared By: Jason Greiner Consider and act upon issues surrounding the Perfonnance Agreement between the WEDC and Phoenix Ascending Investments,LLC. Recommendation Motion to approve a First Amendment to the Performance Agreement between the WEDC and Phoenix Ascending Investments,LLC. Discussion As the Board will recall, the WEDC approved a Performance Agreement with.Phoenix Ascending Investments, LLC on June 21, 2023. The Performance Agreement became effective on November 2, 2023. This item is being brought back to the Board for consideration due to the delays in the construction timeline. According to Section 2.(a)of the Performance Agreement,the CO deadline for this project is 15 months after the effective date of November 2, 2023,which would be February 2, 2025. The proposed First Amendment modifies Section 2. (a) of the Performance Agreement to delete the reference to "15 months" and replace it with"18 months". 2. Performance Obligations, The W DC�s obligation to provide Company with the Economic. Assistance stipulated above is expressly contingent upon Company completing tlae olio kaing items(thy"Fp f4gn co Obligatt ...µ._')by the due dates set forth Belo-m (a) Ycar0ne, E o omic Assistarice will be provided to the Company in the form of forgiveness cif a portion of the Seller Note in an amount not to exceed, One flundred. TWelvc Thousand Five llundred Dollars ( 112,500.00), plus any accrued intcresl., upon completion of"the follmving;Performance c Obligations for Year One; F20] 0111512025Item 1. i. Company shall supply documentation to the WEDC proving completion dfthe Facility,as evidenced by a Certificate<)f Occnpancy or letter from the .".it 's ChiefBuilding Official a'� ''crtificatc of Occiit)airic ,¢ kir the..Facility,no later than 5 n-to rths alter the fle; love Bite of this,Agreement(a"C.0 Deadline); ); The, issuance date of the Certificate of Occupancyfor the Facility%,kr l become tlaao "Facilitompletion late"' ii. Company shall slippy docam,entation to the Wli:DC snpporting ai minimurri P-rckject Cost of Six Hundred R 'fliousa d Dollars , ti .0 evidenced by paid invoices, no later than the CO Deadline, and, iii. Company shall supply doe ntaation to the NVEDC that the Qualified lii ttstriicture for the Facility has been completed and that, the total cost of zest et ng the Qualified lnfrastructure for the.Facility Nvas at least Four -l-a dr Fits Thousand Dollars( 0,0 .00) no later than the CODea fi"110- and W._ Company shall be current on all ad valorein taxes areal.other properly taxes due on the Property through the CO Deadline and provide "ritt n notice and c deuce of sucli pay ment to NNIEDC in a form satisfactory to NV and V Company shall supply docunientalion to the NVEDC on or before the COeadline that Company has paid on time all feesa&sociated with construction o the -Facility including, but not limited to, Building lie lit Fee, Plmnbing, Mechanical,and Electrical Pe it Fees,Fire Inspection Fee: Fire Department Plan Review .Fee lire Development Fee, Thorougliiare Impact Fee, Later & t eNver li•npac:t Fees,third pmty review of Fire Sprinkle and Fire Alarm plans,and all other inspection pees not specifically reamed that may be applicable to the constluction of the Facility. Attachments • Performance Agreement • First Amendment to the Performance Agreement F21] 0111512025Item 1. PERFORMANCE AGREEMEN I BETWEEN WYLIE ECONOMIC DEVELOPMENT CORPORATION f ND PHOENIX Vey ■� INVE STMENTS,LLB This PERFORMANCE AGREEMENT(the"A r i r tp")is entered into by and between the WYLIE ECONOMIC DEVELOPMENT CORPORATION,a Texas corporation C ED ") d PHOENIX ASCENDING INVESTMENTS, PLC, :a Texas limited liability company y " any") RECITALS: WHEREAS, Company is purchasing from the WEDC, Lot 6, Block A, 544 Gateway Addition; an addition to the City of Wylie; Collin County, Texas, according to the map or plat thereof recorded in Boob 2023,Page 527,Plat Records of Collin County,Tex (the"Pro rt " ;for the purchase price ofSix HundredFifty Thous r d and oll00t s Dollars( 0,000. ),according to the terms and conditions of a Real Estate Sales Contract by and between the parties dated January 1 b,2023 (the"'Contract!); WHEREAS, pursuant to the terms of the Contract, at closing, the Company shall pay DC the stun of$200,000.00 in cash,with the balance ofthe purchase price being in the form of a promissory Pate executed by Company and payable to VvTDC in the amount of$ 50,00 .0 (the "Seller Note"),which is secured by a Deed of Trust upon.the Property("Deed of Trust"); WHEREAS, the Company desires to construct a new building on the Property (the `Facil.ty")containing at least 5,914 square feet of space(the" ro`ect"). The Project will have an estimated construction cost of Six Hundred Fifty Thousand Dollars($650,000.00); and WHE REAS,Company may qualify for forgiveness of or a portion ofthe debt evidenced by Seller Note in accordance with the terms of the Seller Note,subject to Company's satisfaction of the Performance Obligations set forth below; WHEREAS,the Company has requested that the WEDC provide economic assistance to offset the cost of renovating the Facility and other expenses associated with completing the Project; d WHEREAS, Company has also requested financialand/or economic assistance from the DC to plan construct certain infrastructure improvements to assist in the development ofthe Facility,consisting of economic assistance for all hard and soft costs relating to the construction of public infrastructure d site improvements on or adjacent to the Property; and WHEREAS, Section 501.103 of the Act states that the C 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, Performance Agreement Between Wylie EDC and Phoenix scending Investments,L.L, Page 1 4187881 F22] 0111512025Item 1. d related improvements(the"Qualified lnfxast e);and NMEREAS,Company proposes to use the economic incentives for the construction of the Qualified Infrastructure which will include approved public,infrastructure improvements and site improvements as may be amended from time to time,necessary for the development of the Property d WHEREAS,the WE` C 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,the WEDC has determined that it is in the best:interest of the public and the City and promotes the purposes authorized by the voters of the City of Wylie fora which the WEDC was established to encourage the development and use of business properties within the City, and WHEREAS, for the public purpose of promoting economic development and diversity, creasing employment,reducing unemployment and underemployment,expanding commerce and stimulating business and commercial activities in the State of Texas; and the City of Wylie, the DC desires to offer economic assistance to Company as more particularly described in this Agreement. NOW,THEREFORE,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: 1. Economic Assistance. Subject to the ternns ofthisAgreementandprovided Company is not in default,the WEDC will provide Company economic assistance in the form of forgiveness of all or a portion of the Seller Note over a four ( ) year period, in an amount not to exceed $450,000.00, plus interest in the aggregate (collectively, the "Economic Assistance"') ;upon completion of the Performance Obligations set forth below. The total amount of economic assistanceand/or incentives to be paid to the Company, including forgiveness of the Seller Note, shall not exceed the cumulative sum of Four Hundred Fifty Thousand Dollars 50,000. 0). . Perform .ce Obligations. The DC's obligation to provide Company with the Economic Assistance stipulated above is expressly contingent upon Company completing the following items (the "Performance Obligations")by the due dates set forth below: (a) Year One. 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. One Hundred Twelve Thousand Five Hundred Dollars( 112,500 0), plus any accrued interest, upon completion of the following Performance Obligations for Year One; Performance agreement Between Wylie EDC and Phoenix Ascending Investments,LLC Wage 4187881 F23] 0111512025Item 1. i. _ Company shall supply documentation to the WEDC proving completion of the Facility,as evidenced by a Certificate of Occupancy or letter from the City's Chief Building{official "Certificate of Occ ' for the Facility,no later than 15 months after the Effective Date of this.Agreement(a"CO Deadline"); The issuance date of the Certificate of Occupancy for the Facility will become the sFac�li Co ltin ate"; ii. Company shall supply documentation to the WEDC supporting a minimum Project Cost of Six Hundred Fifty Thousand Dollars 650, 00. ) as evidenced by paid invoices, no later than the CO Deadline; and iii. Company shall supply documentation to the WEDC that the Qualified Infrastructure for the Facility has been completed and that the total cast of constructing the(qualified Infrastructure for the Facility was at least Four Hundred Fifty Thousand Dollars( 4 ,000.0 })no later than the CO Deadline; and iv. Company shall be current on all ad valorem taxes and other property taxes due on the Property through the CO Deadline and provide written notice'and evidence of such payment to WEDC in a form satisfactory to C; and V. Company shall supply documentation to the WEDC on of before the CO Deadline that Company has paid on time all fees associated with construction o the Facility including, but not limited to, Building Permit Fee, PI-Limbing, 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 d Fire Alarm plans,and all other inspection fees not specifically named that may be applicable to the construction of the Facility. Notwithstanding the foregoing, Company may request a ninety (90) day extension of the Certificate of Occupancy Deadline by delivering written notice thereofto the WEDC staff at least thirty(30)days prior to the expiration of the Certificate ofOccupancy Deadline. In the event WEDC staff determines,in its sole and absolute discretion,that Company is making all such reasonable efforts,then the Certificate of Occupancy Deadline,as applicable, shall be extended by ninety(90)days: (b) Year Two. 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 One Hundred Twelve Thousand Five Hundred Dollars ( 11 , 00.00), plus any accrued'interest, upon completion of the following Performance Obligations for Year Two; is Company shall be current on all ad valorem taxes and other property taxes due on the Property and provide written notice and evidence of such payment to WEDC in a form satisfactory to WEDC-, and Performance Agreement Between Wylie EDC and Phoenix Ascending investments,LLC Page 4187881 F24] 0111512025Item 1. iL Company shall provide to WEDC documentation acceptable to IBC -providing that Company has maintained.continuous occupancy and ownership of the Property from the Effective Date through the first stanniversary of the Facility Completion late; and iiL Company shall supply documentation to the WEDC that the Qualified Infrastructure for the Facility has been completed and that the total cost of constructing the Qualified Infrastructure for the Facility was at least Four, Hundred Fifty Thousand Dollars 0,0 .00)no later than the first(1st)anniversary of the Facility Completion Date. (c) Year Three. Economic Assistance will be provided to the Company in the form of forgiveness of portion of the Seller Note in an amount not to exceed One Hundred Twelve Thousand Five Hundred Dollars ( 112 500.00), plus any accrued interest, upon completion of the following Performance Obligations'for Year Three, is Company shall be current on all ad valorem taxes and other property taxes due on the Property and provide writtennotice and evidence of such payment to WEDC in form satisfactory to IBC; and ii. Company shall provide to WEDC documentation acceptable to DC providing that Company has maintained continuous occupancy and ownership of the Property from the Effective Date through the second ( nd) a °versaA�y of the facility Completion ate;and iii. Company shall supply documentationto the ] that the ualified Infrastructure for the Facility has been completed and that the total cost of constructing the Qualified Infrastructure for the facility was at least Four Hundred dred Fifty Thousand Dollars( 450;000.00)no later than the second(2nd)anniversary of the Facility Completion late. ( ) Year Four. Economic Assistance will be provided to the Company in the form of forgiveness of a portion ofthe Seller Note in an amount not to exceed One Hundred Twelve Thousand Five, Hundred Dollars ( 112,500.00),plus any accrued interest; upon completion of the following Performance Obligations for Year Four; is Company shall be current on all ad valorem taxes and other property taxes due on the Property and provide written notice and evidence of such payment o WEDC in a form satisfactory to IBC; and ii. Company shall provide to WEDC documentation acceptable to DC providing that Company has maintained continuous occupancy and ownership of the Property from the Effective:Cate through the third(3rd)anniversary of the Facility Completion ate;and Performance Agreement Between Wylieand Phoenix Ascending nvest ents,LLC Page 4187881 F25] 0111512025Item 1. in. Company shall supply documentation to the WEDC that the Qualified Infrastructure for the Facility has been completed and that the total cost of constructing the Qualified Infrastructure for the Facility was at least Four Hundred Fifty Thousand Dollars( 50,000.00)no later than the third( r anniversary of the Facility Completion Date. 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 duality for Economic Assistance described in paragraph 2 above(as further defined in paragraph 5), or in the event of the following (collectively a"Default'): ) Any event of bankruptcy incurred by Company. ( ) 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 (e) The non-payment ofproperty taxes prior to the delinquency date imposed by the City ofWylie,Wylie Independent School District,Collin County Community College, d Collin County ty in a timely manner. . Payment of Economic Assistance. Subject to the terms and conditions of this Agreement, the WEDC must mark Seller Note "paid in full", and release the Vendor's Lien and Deed of Trust lien,uponCompany' satisfying the criteria to qualify-for Econo is 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 of Default by Company, In the event of a Default by Company,WEDC may declare Company in Default ofthe Agreement in which event WEDC must provide Company with written notice of the particular Default. Company shall have thirty(3 )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 Seller Note suspended. The WEDC will not however pursue repayment of any previous Economic Incentive payments and any past forgiveness associated with the Seller Note. 6. . Miscellaneous. (a) This Agreement may not be assigned by Company without the prier written consent of the WEDC,which consent shall be within the sole discretion of the VvIEDC. (b) This 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. Performance Agreement Between Wylie EDC and Phoenix eni sc n i Investments,LL Page 4187891 F26] 0111512025Item 1. (c) The Agreement shall be consts-ued in accordance with the laws of the State of Texas and shall be performable in Collin County,Texas. ( ) 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 rather and to the ethers that all appropriate and-necessary action has been taken to authorize the individual who is executing this Agreement to do so for and on behalf ofthe party for which such signature appears,that there are no ether 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. (f) This.agreement is executed by the parties hereto without coercion or duress d for substantial consideration,the sufficiency of which is forever confessed. (g) Any notice provided for under the terms ofthis 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 "ghway 78 South, Wylie, Texas 7509 8. Notice to Company shall be sufficient if made or addressed to 6612 Windrock Drive, Dallas,Texas 75252,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 tither parties in accordance with the provisions of this Agreement. (h) This Agreement may be executed in a number ofidentical coimterparts,each of which shall be deemed an original for all purposes. (i) In case any one or more of the provisions contained in thisAgreement shall for any reason be held to be valid,illegal or unenforceable y respect,such invalidity, illegality or unenforceability shall not affect any other provision thereof,and this.A Agreement shall be construed as is such invalid, illegal or unenforceable provision had never been contained herein. 0) 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. ( ) Time is of the essence in the Agreement. (1) The parties agree this Agreement has been drafted jointly by the parties and their legal representatives. Performance Agre ment Between Wylie EDC and Phoenix Ascending Investments,LLC Page 4187881 0111512025Item 1. ( ) Under Chapter 2264 of the Texas Local Government Code,the Company has submitted the required certification that the business,or a branch,divisions or department of the business, dues not and will not knowingly employ an undocumented worker, An undocumented worker means s individual who,at the time of employment,is not lawfully admitted for permanent residence to the United States or authorized under the law to be employed in that manner in the United States. If after receiving this public subsidy/grant from the :l EDC, the Company, or a branch, division; or department of the business, is convicted of a violation under 8 U.S.C. Section 1324a(f), the Con.-ipany 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 22 4.053,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 EDC and Phoenix Ascending Investments,LLB Page 7 4187881 F28] 0111512025Item 1. N 'WITNESS VVIIEREOF, the parties have executed this Agreement and caused this Agreement to be effective on the latest date as reflected by the signatures belay the "Effective ...... ..Date" . Wylie Economic Development Corporation, a Texas corporation a /aron J e n;d—ice President Date of Execution. Phoenix Ascending Investments, L LC, a Texas limited liability company y. t ba- DA- ate of Execution. "` 1- Z0033, . Performance Agreement Between Wylie EDC and Phoenix Ascendingnve t ents .L Page 8 4187881 F29] 0111512025Item 1. FIRST AMENDMENT TO PERFORMANCE AGREEMENT THIS FIRST AMENDMENT TO PERFORMANCE AGREEMENT (this "First Amendment"), is entered into and is effective as of the day of January, 2025 (the "Effective Date")by and among the WYLIE ECONOMIC DEVELOPMENT CORPORATION a Texas economic development corporation (the "WEDC"), and PHOENIX ASCENDING INVESTMENTS, LLC, a Texas limited liability company ("Company"). WITNESSETH: WHEREAS, WEDC Board of Directors and the Company entered into that certain Performance Agreement dated November 2, 2023 (the"Performance Agreement")to facilitate the Company's proposed construction of a new building on the Property(the "Facility") containing at least 5,914 square feet of space (the "Project") and an estimated construction cost of Six Hundred Fifty Thousand Dollars ($650,000.00); and WHEREAS, the parties desire to amend the terms of the Performance Agreement by extending the CO Deadline timeframe as relates to the Year One Performance Obligations set forth in the Performance Agreement; and WHEREAS, WEDC and Company desire to modify and amend the Performance Agreement in certain respects, as more particularly set forth in this First Amendment. NOW, THEREFORE, in an effort to address unforeseen delays in the construction timeline, WEDC and Company agree to amend and modify the Performance Agreement as follows: 1. Defined Terms. Capitalized terms used but not defined in this First Amendment will have the meanings given to them in the Performance Agreement. 2. Modification of Section 2.(a)i. Notwithstanding anything to the contrary contained in the Performance Agreement, Section 2.(a)i of the Performance Agreement is hereby amended to modify the CO Deadline by deleting the reference to "15 months" and replacing it with "18 months." 3. Ratification. Except as expressly amended herein, the Performance Agreement remains unchanged, and is a valid and binding obligation of WEDC and the Company. 4. Counterparts; Transmission. This First Amendment may be executed in multiple counterparts, each of which shall be deemed an original, and all of which shall constitute one and the same agreement. Transmission of an executed signature page of this First Amendment by email will be effective to create a binding agreement. [SIGNATURE PAGE FOLLOWS] First Amendment to Performance Agreement—Phoenix Ascending Investments,LLC—Page 1 4647306 30 0111512025Item 1. IN WITNESS WHEREOF, the parties hereto have executed this First Amendment to be effective as of the Effective Date. WEDC: Wylie Economic Development Corporation, a Texas Corporation By: Name: Title: COMPANY: Phoenix Ascending Investments, LLC, a Texas limited liability company By: Ashley Day, Managing Member First Amendment to Performance Agreement—Phoenix Ascending Investments,LLC—Page 2 4647306 F31] 0111512025ItWYLIEEDC em DS1. Wylie Economic Development Board AGENDA REPORT Meeting Date: January 15, 2025 Item Number: DS1 Prepared By: Jason Greiner Discussion and updates regarding Discover Wylie. Recommendation I No action is requested by staff on this item. Discussion I Staff will hold a discussion and provide updates regarding Discover Wylie. F32] 0111512025 ItWYLIEEDC DS2. Wylie Economic Development Board AGENDA REPORT Meeting Date: January 15, 2025 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. Recommendation I No action is requested by staff on this item. Discussion WEDC Property Update: Property Management/Real Estate • Sale of Lot 1 of Cooper Plaza has been finalized. • Staff have been in communication with the former tenant of 1.06 N Birmingham, 605 Commerce/Suite 200, and 908 Kirby regarding payment of past due rent. 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: • KH is waiting on the City of Wylie downtown project and Birmingham Extension for the regional drainage solution and parking along UP ROW. 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 parking. • Next project coordination meeting: 1/23/25 F33] 0111512025 It DS2. 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 • Project is under construction with KH providing construction management as-needed. • Change Orders and Pay Apps are currently being revised and updated. 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. Change Order#1 is currently under review by KH and Vasquez. • Next project coordination meeting: 1/23/25 Flood Study&Drainage Study-Hooper/Steel/Regency Business Park(KH) • Existing storm sewer analysis is complete. KH reviewed findings/recommendations with staff and are making updated based on recommendations. Final recommendations to be submitted by mid-January. • KH preparing an IPO for the final design of the Option 6 improvements (including existing storm sewer recommendations). 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 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 to prepare exhibit showing additional parking and striping along Jackson, Oak, and Marble. • 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 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 is waiting for a response from. Atmos with the updated signature block information in place. Once staff receives the final document and obtains the last set of signatures,the documents will be sent to Atmos for filing. BRE &Workforce Updates: • There were no BRE visits conducted in December, but multiple follow-up meetings were held based on information from prior BRE visits. • Check presentation to Sanden Internation and facility tour with HS. 34 0111512025 It DS2. • Collin College Leadership Skills Development training program was finalized. The class begins January 15t', with 20 registrants from 11 local businesses registered. 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 Governor's Small Business Summit(AW, CS) • Staff attended the TEDC Board Retreat(JG) • Staff participated in TEDC Virtual Sales Tax Workshop (MB) • Staff attended the Wylie ISD CTE Advisory Luncheon(AW, CS) • Staff and Board attended the Elfin Gala&Awards Banquet(WM, CS) • Participated in the ongoing Leadership Wylie Classes. This month featured nonprofits. (MW, MB) • Staff attended the 2024 CCBA Anniversary Luncheon(AW, CS) • Staff and Board attended a community tour of Little Elm(BB,WM,JG, RH) • Staff attended the Mayor/Council Staff Appreciation Luncheon(RH, AW,MB, CS) • Sales tax revenues for January are down 2.89%. Upcoming Events: • ICSC Red River—January 29-31, 2025 • Project U—February 18, 2025 • Broker/Developer Event: Hidden Lakes-February 27, 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. 35 0111512025 Item DS2. 202 � . 7�4It . DiSCOVER WY i FAC INCREASE FROM 2023 Reach 468,000 7% 4-I- days of watch time, Facebo0k Reels /o 1500 interactions New Followers 3,000 % Profile Visits 26,800 % 4 t1A IG Reach 39,000 IG New Followers 400 % TT New Followers 277 % t t u jog The CPKC Holiday How well do you know OK,Wylle-where did WelcometoWylle, Welcome toWyCe, The fireworks at the Congratulations to Start off a festive fury Express returns to... Wylie?Where canyo... thiscomefrom? e FerahSmokehouse-... Farah Smokehous ;.. WylieRreworks... @hoposgatefora... weekend in®ownto... *4dN.i 20,M- M-D-309L'0— Thu Oct ict 8Man� Sat 5o120642pm Sat Jul 206:25pm 11a '.d'92jpe S-0'r., al- S"D,I9;Go-, -71 9K q#112 -11.5K V 56.: a 11 2 27 -10,5K v 219 4 9.2K v 180 o 1AK 9,119 $1.6K ^70 927 25: 39 4 4A 19 40 37 . 0 d.2 .12 15 4 95 8 0 11. 1 47 02 4 1 El 01/95/2025 Item DS2. 5 m WPM qm"vo�, mm y .r mi ILL m , E! u ME N ImEl k ims U "Lookol INEIR IN SPEAK ,1 ,11 , LOUD G R`0 U P Marketing & Advertising Experts y�4t l a � t 0111512025 It DS2. ey DINESHOPPLAY T E X A S - DATA Impressions wits 1000 Ci.t f,_: ocJ 23 Nov 3. Nov 14: 3a :a: t^'u:6 !Dec t7 Des,28 159010 NEW FOR 2025 BLDG QUARTERLY BLOG ADDED TO DSPT SITE RECAPPING THE LOCATIONS VISITED IN THE LAST 90 DAYS ACTIONS TAKEN TO BUSINESS PAGES 38 0111512025 Item DS2. EME A owl, $� w � 7 Y yryp �3h t v , �$�s s ti,�k t �� >s §}1 =r ti a u r s � g�k �{ � Jqe 5'FAICLdCdi7�. t �r �r � ti 0111512025 Item DS2. EXECUTED: Sip & Shop LLW Podcast Gift Guide & Page Restoration Boo on Ballard DW Follower Campaign On Going DW Gift Guide Campaign Hotilday Shop Local Campaign Drone Video and Photos Event Increase reach of LLW podcast organic and reels Continuing EDC Social Ramp Up S MR Fall 2024 Class Christmas Parade & Tree Lighting COMING SOON . Adding Second LLW Episode Monthly Spring SMR Session Historic Downtown Campaigns 0111512025 Item DS2. EDC Social Media Compare E 1. M%\ t �� , a B Z��--, 1 ��`� has " lKwo, V d i t ,a b u` F o L 0 W I �, b``�, p �� c�`�,i �� Vie 'n � zt ollincreased g. \`:v'+'u r �~ra�.aS a lla "s o continue to work with t h .� E D�..�} to have "`� 3?:"`t 4 ` G ,,,�`' ri'a`� ` "` S "�'wy,�`.°``y'`"', `?`. "' post �".. �i �' �t. :,.e.z.^`�.,, :Z. 4 y is "``a,c. em`l�`"ri`�,�a uc.��..;.�. `t`rti,«."�3r�,.. � ��.�a�,�.� �%:; �\� ��..�a na:�C, ��mrE, W° �:.�t�� `"�, ':t y«. `°an�,�� ``a�.4�'��°`*,..; ,''�.a. 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WYLIEDEVELOPMENT 2024 December Board Meeting-18tn Day Time Meeting/Event 4-6 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 12 Leadership Wylie—Nonprofits—mw, mb 17 5:00-7:00 pm Chamber Ambassador Reception 18 7:30 am WEDC- Board Meeting 3-25 CLOSED Christmas_I ohda 2025 January Board Meeting—15tn / Special Called -24tn Day Time Meeting/Event C OS D_._New Ye.ar's D i0fl¢a 7 8:30 am WDMA Meeting 14 6:00 pm City Council 15 7:30 am WEDC- Board Meeting 16 Leadership Wylie—Collin County—mw, mb 20 CLOSEDmm Martin Luther gin mr. LigLHdqy 24 8:00 am Special Called WEDCMeeting/Staffing and Compensation Committee Meeting 25 5:00 pm 5:01 Chamber Professional Mixer—Glen Echo Brewing 27-28 TEDC CTED/TEEX Training,College Station—ig 28 6:00 pm City Council 29-31 ICSC Red River- Dallas—mp, dd, bb, hs, mw, ig, rh *RSVP Required 2025 February Board Meeting—19th Day Time Meeting/Event 4 8:30 am WDMA Meeting 6 Leadership Wylie—SIMSOC—mw, mb 6 3:00 pm Bisnow—DFW 2025 Market Forecast 11 6:00 pm City Council 18 Proiect U in Burleson—ig, rh, aw, mb, cs *RSVP Required 19 7:30 am WEDC Board Meeting 25-26 Entertainment Experience Evolution—Los Angeles—bp,ig,rh 25 6:00 pm City Council 27 Broker/Developer Tour& Event: Hidden Lakes Around the Corner... • Collin College Education Foundation-Stetson and Stiletto—McKinney—March 8 *RSVP Required • 5 Loaves Gala—Garland—March 8 *RSVP Required • Boots 'N Barbecue—Wylie ISD Education Foundation—March 29 *RSVP Required • P3C Conference—Dallas—April 7-9 • TEDC CTED/TEEX Training, College Station—April 14-16 F42]