08-20-2025 (WEDC) Agenda Packet
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Wylie Economic Development Corporation
Board Regular Meeting
August 20, 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 indiv idual,
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 wi ll 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 Ag enda
and will be considered separately.
A. Consider and act upon approval of Minutes from the July 16, 2025 Regular Meeting of the WEDC Board of
Directors.
B. Consider and act upon approval of the July 2025 WEDC Treasurer's Report.
REGULAR AGENDA
1. Consider and act upon Resolution 2025-01(R) between the WEDC and Government Capital Corporation.
DISCUSSION ITEMS
DS1. Discussion regarding the Performance Agreement between WEDC and MLKJ Investments, LLC.
DS2. 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.
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.
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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: 2022-1b, 2022-1c, 2023-1c, 2023-2d, 2023-8a,
2023-11b, 2024-5a, 2024-5f, 2024-8d, 2024-9d, 2024-10c, 2024-12c, 2025-4a, 2025-4d, 2025-5g, 2025-5h,
2025-6a, 2025-6d, 2025-6e, 2025-8a, 2025-8b, 2025-8c, 2025-8d, 2025-8e, and 2025-8f.
RECONVENE INTO OPEN SESSION
Take any action as a result from Executive Session.
FUTURE AGENDA ITEMS
ADJOURNMENT
CERTIFICATION
I certify that this Notice of Meeting was posted on August 15, 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 requ ired, then
such closed or executive meeting or session or consultation with attorney as authorized by the Texas Open Meetings
Act, Texas Government Code § 551.001 et. seq., will be held by the Board at the date, hour and place given in this
notice as the Board may conveniently meet in such closed or executive meeting or session or consult with the
attorney for the City concerning any and all subjects and for any and all purposes permitted by the Act, including,
but not limited to, the following sanctions and purposes:
Texas Government Code Section:
§ 551.071 – Private consultation with an attorney for the City.
§ 551.072 – Discussing purchase, exchange, lease or value of real property.
§ 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.
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Minutes
Wylie Economic Development Corporation
Board of Directors Regular Meeting
July 16, 2025 – 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 7:31 a.m. Board Members present were Blake
Brininstool, Harold Smith, Melisa Whitehead, and Alan Dayton.
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
Demond Dawkins gave the invocation and led the Pledge of Allegiance.
COMMENTS ON NON-AGENDA ITEMS
With no citizen participation, President Dawkins moved to the 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 the June 18, 2025 Regular Meeting of the
WEDC Board of Directors.
B. Consider and act upon approval of the June 2025 WEDC Treasurer’s Report.
Board Action
A motion was made by Blake Brininstool, seconded by Harold Smith, to approve the Consent
Agenda. A vote was taken, and the motion passed 5-0.
President Dawkins moved to Discussion Item 3.
DISCUSSION ITEMS ______
DS3. Staff report: WEDC Property Update, Temporary Access Agreements, Downtown Parking,
Engineering Report, Upcoming Events, and WEDC Activities/Programs.
Discussion
Staff introduced Brittany Rouse and Keaton Cox with Kimley-Horn, who provided engineering
updates on multiple ongoing projects, including State Highway 78 TxDOT Improvements, Cooper
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Plaza, 544 Gateway, State Highway 78 & Alanis Drive Utility Extension, Downtown Parking,
Regency Business Park, and FM 544 Corridor Master Plans. The Board discussed ensuring that there
is no duplication of engineering efforts between the City of Wylie and WEDC. Staff and Kimley
Horn assured the Board that there is no duplication of efforts.
President Dawkins then moved to Executive Session.
EXECUTIVE SESSION
Recessed into Closed Session at 7:59 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, State Hwy 78/Brown, and State Hwy
78/Skyview.
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.
ES2. Deliberation regarding commercial or financial information that the WEDC has received
from a business prospect and to discuss the offer of incentives for Projects: 2022-1b, 2022-1c,
2023-1c, 2023-2d, 2023-8a, 2023-11b, 2024-2d, 2024-5a, 2024-5f, 2024-8d, 2024-9d, 2024-10c,
2024-12c, 2025-2a, 2025-3b, 2025-4a, 2025-4d, 2025-4e, 2025-4g, 2025-5b, 2025-5c, 2025-5f,
2025-5g, 2025-6a, 2025-6b, 2025-6c, 2025-6d, 2025-6e, 2025-6f, 2025-6g, 2025-7a, 2025-7b,
2025-7c, 2025-7d and 2025-7e.
President Dawkins left the meeting during Executive Session at 9:31 a.m.
RECONVENE INTO OPEN SESSION
Take any action as a result of the Executive Session.
Vice President Brininstool reconvened into Open Session at 9:31 a.m. and the Board took the following
action:
Board Action
A motion was made by Melisa Whitehead, seconded by Harold Smith, to authorize the WEDC to
enter into a Performance Agreement with Lanspring Investments, LLC/Cates Control Systems
(Project 2024-2d) in an amount not to exceed $600,000. A vote was taken and the motion passed
4-0.
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Board Action
A motion was made by Harold Smith, seconded by Melisa Whitehead, to authorize the WEDC to
enter into a Performance Agreement with Project 2023-11b in an amount not to exceed $100,000,
subject to Council approval. A vote was taken and the motion passed 4-0.
Vice President Brininstool then moved to the Regular Agenda Items.
REGULAR AGENDA
1. Consider and act upon a Second Amendment to the Purchase and Sale Agreement between the
WEDC and Aktrian Holdings, LLC.
Discussion
Staff reminded the Board of the Purchase and Sale agreement approved on October 16, 2024. Staff
stated that there have been some delays due to the Regency Business Park drainage analysis, flood
studies, and regional improvements; therefore, they are requesting a 90-day extension of the
Feasibility Period deadline. Approval of the Second Amendment would extend the Feasibility Period
deadline from April 15, 2025, to July 14, 2025. Staff noted that closing would occur quickly once
they get through Planning and Zoning.
Board Action
A motion was made by Melisa Whitehead, seconded by Harold Smith, to approve a Second
Amendment to the Purchase and Sale Agreement between the WEDC and Aktrian Holdings, LLC,
and further authorize the Board President or his/her designee to execute said agreement. A vote was
taken, and the motion passed 4-0.
2. Consider and act upon a Second Amendment to the Performance Agreement between the
WEDC and Phoenix Ascending Investments, LLC.
Discussion
Staff reminded the Board of the Performance Agreement with Phoenix Ascending Investments, LLC,
and the First Amendment, which provided for an extension to the Certificate of Occupancy (CO)
Deadline due to construction delays tied to WEDC’s infrastructure work. While the agreement allows
a 90-day extension to July 31, 2025, Staff recommends a Second Amendment to formally extend the
CO Deadline to ensure that all required inspections are fully completed and eliminate any further
extension options.
Board Action
A motion was made by Harold Smith, seconded by Melisa Whitehead, to approve a Second
Amendment to the Performance Agreement between the WEDC and Phoenix Ascending
Investments, LLC. A vote was taken, and the motion passed 4-0.
3. Consider and act upon a License Agreement between the WEDC and Wylie Downtown
Merchants Association.
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Discussion
Staff reminded the Board of the updated License Agreement between the WEDC and the Wylie
Downtown Merchants Association, which the Board previously authorized on June 24, 2025,
contingent on refining the term and performance conditions. Staff noted that the original discussion
proposed a variable term dependent on delivery of key performance indicators and brand asset
readiness, such as brand transfer within 2–3 years, followed by a 5-year marketing period. Staff
shared that the License Agreement would include a flat 10-year term with the brand asset exchange
to occur after the first five years, in which “Discover Wylie” would become property of WEDC and
“Historic Downtown Wylie” would become property of WDMA. The remaining five years will be a
marketing partnership with WEDC, continuing to promote Historic Downtown Wylie. Additionally,
ongoing cost commitments for WEDC include $35,000 annually for website hosting, maintenance,
and updates for both brands during the term.
Board Action
A motion was made by Harold Smith, seconded by Melisa Whitehead , to approve a License
Agreement between the WEDC and Wylie Downtown Merchants and further authorize the WEDC
Executive Director to execute said Agreement. A vote was taken, and the motion passed 4-0.
4. Consider and act upon the approval of the FY 2025-2026 WEDC Budget.
Discussion
Staff provided an overview of the FY 2025-2026 WEDC Budget to the Board and noted that the
same will be presented to the City Council on 7/22/25. Staff highlighted estimates of $13.9 MM in
available resources, including a $5.6 MM beginning fund balance. Sales tax revenue is estimated to
be $5.3 MM. Staff anticipates $2.8 MM in revenue from the sale of EDC properties. Personnel
Services increased from $666k to $776k in early FY26 for the addition of one position to allow for
cross-training due to retirement. Special Services/Real Estate is up from $71k to $221k due to site
development (RBP). Special Services/Infrastructure is down from $9MM to $3.2MM due to the
completion of multiple infrastructure projects. Engineering Services is up from $855k to $960k,
which includes General Engineering, RBP Construction Plans, Downtown Parking Design,
Downtown Building Civils, Downtown Building Architectural, 544 Corridor Civils, Environmental,
and Misc Surveys/Concepts. Debt Service is up from $1.2MM to $1.8MM due to a projected increase
related to Executive Session discussions and Confidential Project. Staff estimates a FY26 ending
fund balance of $3.6 MM.
Board Action
A motion was made by Harold Smith, seconded by Alan Dayton, to approve the FY 2025-2026 WEDC
Budget as presented. A vote was taken, and the motion passed 4-0.
DISCUSSION ITEMS ______
DS1. Discussion regarding the Performance Agreement between WEDC and MLKJ Investments,
LLC.
Discussion
Staff noted that MLKJ representative Mansour Khayal will be present at the August meeting to
provide project updates. Staff then discussed MLKJ’s progress, which is provided to the Board on a
weekly basis. Staff noted that MLKJ still plans to meet their deliverables this Fall, and there are
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pending leases on this space. Staff discussed on-site delays/issues with the contractors, which MLKJ
will elaborate on in the August meeting. Staff will continue to provide weekly project updates as
requested by the Board. The Board discussed concerns regarding the state of the project and the lack
of construction progress on-site.
DS2. Discuss issues surrounding WEDC loans.
Discussion
Staff discussed options for securing additional funds related to Executive Session discussions and
confidential projects. For budgeting purposes, Staff has projected a loan scenario of $7MM at a fixed
7% rate for 20 years. The closing of this loan is anticipated to occur within FY 24-25. However,
should funding take longer than expected, the FY 25-26 budget would be amended accordingly.
Additional information will be brought back to the Board in August or at a Special Called Meeting
as needed, based on the anticipated necessary timeline.
DS3. Staff report: WEDC Property Update, Temporary Access Agreements, Downtown Parking,
Engineering Report, Upcoming Events, and WEDC Activities/Programs.
Discussion
Staff continued the discussion related to the Staff Report, referencing the Agenda Report provided
in the packet for additional updates pertaining to WEDC Property Updates, Temporary Access
Agreements, Upcoming Events, and WEDC Activities/Programs. Staff shared updates on BRE and
workforce, including possible expansion for two businesses, the launch of a new program with Wylie
ISD CTE and North Texas Municipal Water District, and preparations for the upcoming
Manufacturing Day. Staff noted that the overall engagement continues to trend upwards across all
social media platforms this quarter.
FUTURE AGENDA ITEMS
There were no Items requested for inclusion on future agendas.
ADJOURNMENT
With no further business, Vice President Brininstool adjourned the WEDC Board meeting at 9:57 a.m.
__________________________________
Demond Dawkins, President
ATTEST:
__________________________________
Jason Greiner, Executive Director
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08/20/2025 Item A.
Wylie Economic Development
Board
AGENDA REPORT
Meeting Date: August 20, 2025 Item Number: B
Prepared By: Jason Greiner
Subject
Consider and act upon approval of the July 2025 WEDC Treasurer’s Report.
Recommendation
Motion to approve the July 2025 WEDC Treasurer’s Report.
Presented for the Board’s review and approval is the July 2025 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 Performance Agreement Summary.
REVENUES:
Sales Tax Revenue earned in May and allocated in July was $392,577.13, an increase of 4.90% over the same period in
2024. YTD sales tax revenues as of July are up 7.72%.
Note: Recurring revenue of $1500 per month for temporary access of 709 Cooper (Flytrex) is reflected in the July financials
and will be a recurring revenue until the expiration of the term.
EXPENSES:
Incentives
$40,000.00 Sands, RX – Incentive 1 of 1
Special Services - Infrastructure
$38,730.83 Capco Telecom, LLC – FM 544 Fiber Line Relocation
$423,277.20 McMahon Contracting – Pay App 10
Engineering / Architectural
$15,491.36 Kimley Horn & Associates – General Engineering/FM 544 Gateway/FM 544 Corridor Master Plan
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08/20/2025 Item B.
8/15/2025 7:46:39 AM Page 1 of 5
July Rev/Exp Report
Account Summary
For Fiscal: 2024-2025 Period Ending: 07/31/2025
Fiscal
AcƟvity
Variance
Favorable
(Unfavorable)
Percent
Remaining
Current
Total Budget
Period
AcƟvity
Original
Total Budget
Fund: 111 - WYLIE ECONOMIC DEVEL CORP
Revenue
Category: 400 - Taxes
REV IN LEIU OF TAXES 0.00 0.00 0.00 0.00 %0.00111-4000-40150 0.00
SALES TAX 4,990,217.00 3,280,472.24 -1,709,744.76 34.26 %392,577.13111-4000-40210 4,990,217.00
Category: 400 - Taxes Total:3,280,472.24392,577.134,990,217.00 4,990,217.00 -1,709,744.76 34.26%
Category: 430 - Intergovernmental
380 ECONOMIC AGREEMENTS 0.00 0.00 0.00 0.00 %0.00111-4000-43518 0.00
Category: 430 - Intergovernmental Total:0.000.000.00 0.00 0.00 0.00%
Category: 460 - Interest Income
CERTIFICATE OF DEPOSIT 0.00 0.00 0.00 0.00 %0.00111-4000-46050 0.00
ALLOCATED INTEREST EARNINGS 112,000.00 310,167.58 198,167.58 276.94 %22,223.04111-4000-46110 112,000.00
TEXPOOL INTEREST 0.00 0.00 0.00 0.00 %0.00111-4000-46140 0.00
LOGIC INTEREST 0.00 0.00 0.00 0.00 %0.00111-4000-46143 0.00
INTEREST EARNINGS 0.00 0.00 0.00 0.00 %0.00111-4000-46150 0.00
LOAN REPAYMENT (PRINCIPAL)0.00 0.00 0.00 0.00 %0.00111-4000-46160 0.00
BANK MONEY MARKET INTEREST 0.00 0.00 0.00 0.00 %0.00111-4000-46210 0.00
Category: 460 - Interest Income Total:310,167.5822,223.04112,000.00 112,000.00 198,167.58 176.94%
Category: 480 - Miscellaneous Income
RENTAL INCOME 4,800.00 7,200.00 2,400.00 150.00 %1,900.00111-4000-48110 4,800.00
RECOVERY - PRIOR YEAR EXPEND 0.00 0.00 0.00 0.00 %0.00111-4000-48310 0.00
MISCELLANEOUS INCOME 0.00 400.00 400.00 0.00 %0.00111-4000-48410 0.00
GAIN/(LOSS) SALE OF CAP ASSETS 4,121,530.00 925,593.76 -3,195,936.24 77.54 %0.00111-4000-48430 4,121,530.00
Category: 480 - Miscellaneous Income Total:933,193.761,900.004,126,330.00 4,126,330.00 -3,193,136.24 77.38%
Category: 490 - Transfers In & Other Financing Sources
TRANSFER FROM GENERAL FUND 0.00 0.00 0.00 0.00 %0.00111-4000-49160 0.00
BANK NOTE PROCEEDS 0.00 0.00 0.00 0.00 %0.00111-4000-49325 0.00
LEASE PRINCIPAL PAYMENTS (OFS)0.00 0.00 0.00 0.00 %0.00111-4000-49550 0.00
INSURANCE RECOVERIES 0.00 0.00 0.00 0.00 %0.00111-4000-49600 0.00
Category: 490 - Transfers In & Other Financing Sources Total:0.000.000.00 0.00 0.00 0.00%
Revenue Total:4,523,833.58416,700.179,228,547.00 9,228,547.00 -4,704,713.42 50.98%
Expense
Category: 510 - Personnel Services
SALARIES 470,558.40 391,646.70 78,911.70 16.77 %38,986.64111-5611-51110 470,558.40
OVERTIME 0.00 0.00 0.00 0.00 %0.00111-5611-51130 0.00
LONGEVITY PAY 2,807.68 2,664.00 143.68 5.12 %0.00111-5611-51140 2,807.68
SICK LEAVE BUYBACK 0.00 0.00 0.00 0.00 %0.00111-5611-51145 0.00
CERTIFICATION INCENTIVE 0.00 0.00 0.00 0.00 %0.00111-5611-51160 0.00
PARAMEDIC INCENTIVE 0.00 0.00 0.00 0.00 %0.00111-5611-51170 0.00
CAR ALLOWANCE 0.00 0.00 0.00 0.00 %0.00111-5611-51210 0.00
PHONE ALLOWANCE 0.00 0.00 0.00 0.00 %0.00111-5611-51220 0.00
CLOTHING ALLOWANCE 0.00 0.00 0.00 0.00 %0.00111-5611-51230 0.00
MOVING ALLOWANCE 0.00 0.00 0.00 0.00 %0.00111-5611-51260 0.00
TMRS 74,649.83 62,255.74 12,394.09 16.60 %6,148.22111-5611-51310 74,649.83
HOSPITAL & LIFE INSURANCE 79,943.76 64,937.37 15,006.39 18.77 %6,505.41111-5611-51410 79,943.76
EXECUTIVE HEALTH PLAN 0.00 0.00 0.00 0.00 %0.00111-5611-51415 0.00
LONG-TERM DISABILITY 1,741.07 732.03 1,009.04 57.96 %82.41111-5611-51420 1,741.07
FICA 29,348.70 22,836.57 6,512.13 22.19 %2,233.96111-5611-51440 29,348.70
MEDICARE 6,863.81 5,340.72 1,523.09 22.19 %522.44111-5611-51450 6,863.81
WORKERS COMP PREMIUM 1,175.06 1,175.06 0.00 0.00 %0.00111-5611-51470 994.07
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08/20/2025 Item B.
Budget Report For Fiscal: 2024-2025 Period Ending: 07/31/2025
8/15/2025 7:46:39 AM Page 2 of 5
Fiscal
AcƟvity
Variance
Favorable
(Unfavorable)
Percent
Remaining
Current
Total Budget
Period
AcƟvity
Original
Total Budget
UNEMPLOYMENT COMP (TWC)585.00 315.00 270.00 46.15 %0.00111-5611-51480 585.00
Category: 510 - Personnel Services Total:551,903.1954,479.08667,492.32 667,673.31 115,770.12 17.34%
Category: 520 - Supplies
OFFICE SUPPLIES 5,000.00 1,964.30 3,035.70 60.71 %544.89111-5611-52010 5,000.00
POSTAGE & FREIGHT 300.00 223.85 76.15 25.38 %0.00111-5611-52040 300.00
TOOLS/ EQUIP (NON-CAPITAL)0.00 0.00 0.00 0.00 %0.00111-5611-52130 0.00
FOOD SUPPLIES 3,000.00 2,183.14 816.86 27.23 %214.28111-5611-52810 3,000.00
OTHER 0.00 0.00 0.00 0.00 %0.00111-5611-52990 0.00
Category: 520 - Supplies Total:4,371.29759.178,300.00 8,300.00 3,928.71 47.33%
Category: 540 - Materials for Maintenance
FURNITURE & FIXTURES 2,500.00 0.00 2,500.00 100.00 %0.00111-5611-54610 2,500.00
TOOLS & EQUIPMENT 0.00 0.00 0.00 0.00 %0.00111-5611-54630 0.00
COMPUTER HARD/SOFTWARE 7,650.00 1,975.00 5,675.00 74.18 %0.00111-5611-54810 7,650.00
BUILDINGS 0.00 0.00 0.00 0.00 %0.00111-5611-54910 0.00
OTHER 0.00 0.00 0.00 0.00 %0.00111-5611-54990 0.00
Category: 540 - Materials for Maintenance Total:1,975.000.0010,150.00 10,150.00 8,175.00 80.54%
Category: 560 - Contractual Services
INCENTIVES 1,741,250.00 960,000.00 781,250.00 44.87 %40,000.00111-5611-56030 1,741,250.00
SPECIAL SERVICES 87,270.00 86,332.23 937.77 1.07 %1,210.54111-5611-56040 87,270.00
SPECIAL SERVICES-REAL ESTATE 71,000.00 31,144.94 39,855.06 56.13 %2,013.64111-5611-56041 71,000.00
SPECIAL SERVICES-INFRASTRUCTUR 9,020,667.00 7,721,077.98 1,299,589.02 14.41 %462,008.03111-5611-56042 9,020,667.00
ADVERTISING 226,125.00 110,006.95 116,118.05 51.35 %6,141.17111-5611-56080 226,125.00
COMMUNITY DEVELOPMENT 74,450.00 37,783.00 36,667.00 49.25 %5,010.13111-5611-56090 74,450.00
COMMUNICATIONS 7,900.00 4,680.05 3,219.95 40.76 %521.10111-5611-56110 7,900.00
RENTAL 27,000.00 24,750.00 2,250.00 8.33 %2,250.00111-5611-56180 27,000.00
TRAVEL & TRAINING 95,500.00 65,619.43 29,880.57 31.29 %800.00111-5611-56210 95,500.00
DUES & SUBSCRIPTIONS 91,053.00 78,082.35 12,970.65 14.25 %2,039.17111-5611-56250 91,053.00
INSURANCE 6,800.00 6,119.85 680.15 10.00 %0.00111-5611-56310 6,800.00
AUDIT & LEGAL SERVICES 53,000.00 38,251.20 14,748.80 27.83 %2,860.80111-5611-56510 53,000.00
ENGINEERING/ARCHITECTURAL 855,300.00 133,006.84 722,293.16 84.45 %15,491.36111-5611-56570 855,300.00
UTILITIES-ELECTRIC 2,400.00 1,742.30 657.70 27.40 %431.21111-5611-56610 2,400.00
Category: 560 - Contractual Services Total:9,298,597.12540,777.1512,359,715.00 12,359,715.00 3,061,117.88 24.77%
Category: 570 - Debt Service & Capital Replacement
DEBT SERVICE 0.00 0.00 0.00 0.00 %0.00111-5611-57110 0.00
PRINCIPAL PAYMENT 606,744.04 519,252.27 87,491.77 14.42 %52,728.97111-5611-57410 606,744.04
INTEREST EXPENSE 625,253.60 507,412.43 117,841.17 18.85 %49,937.50111-5611-57415 625,253.60
BAD DEBT EXPENSE 0.00 0.00 0.00 0.00 %0.00111-5611-57710 0.00
Category: 570 - Debt Service & Capital Replacement Total:1,026,664.70102,666.471,231,997.64 1,231,997.64 205,332.94 16.67%
Category: 580 - Capital Outlay
LAND-PURCHASE PRICE 1,000,000.00 0.00 1,000,000.00 100.00 %0.00111-5611-58110 1,000,000.00
DEVELOPMENT FEES 0.00 0.00 0.00 0.00 %0.00111-5611-58120 0.00
LAND-BETTERMENTS 0.00 0.00 0.00 0.00 %0.00111-5611-58150 0.00
STREETS & ALLEYS 0.00 0.00 0.00 0.00 %0.00111-5611-58210 0.00
SANITARY SEWER 0.00 0.00 0.00 0.00 %0.00111-5611-58410 0.00
COMPUTER HARD/SOFTWARE 0.00 0.00 0.00 0.00 %0.00111-5611-58810 0.00
FURNITURE & FIXTURES 0.00 0.00 0.00 0.00 %0.00111-5611-58830 0.00
BUILDINGS 0.00 0.00 0.00 0.00 %0.00111-5611-58910 0.00
CONTRA CAPITAL OUTLAY 0.00 0.00 0.00 0.00 %0.00111-5611-58995 0.00
Category: 580 - Capital Outlay Total:0.000.001,000,000.00 1,000,000.00 1,000,000.00 100.00%
Category: 590 - Transfers Out & Other Financing Uses
TRANSFER TO GENERAL FUND 0.00 0.00 0.00 0.00 %0.00111-5611-59111 0.00
TRANSFER TO THORUGHFARE IMPA 0.00 0.00 0.00 0.00 %0.00111-5611-59190 0.00
TRANSFER TO CAPITAL PROJ FUND 0.00 0.00 0.00 0.00 %0.00111-5611-59430 0.00
10
08/20/2025 Item B.
Budget Report For Fiscal: 2024-2025 Period Ending: 07/31/2025
8/15/2025 7:46:39 AM Page 3 of 5
Fiscal
AcƟvity
Variance
Favorable
(Unfavorable)
Percent
Remaining
Current
Total Budget
Period
AcƟvity
Original
Total Budget
PROJECT ACCOUNTING 0.00 0.00 0.00 0.00 %0.00111-5611-59990 0.00
Category: 590 - Transfers Out & Other Financing Uses Total:0.000.000.00 0.00 0.00 0.00%
Expense Total:10,883,511.30698,681.8715,277,654.96 15,277,835.95 4,394,324.65 28.76%
Fund: 111 - WYLIE ECONOMIC DEVEL CORP Surplus (Deficit):-6,359,677.72-281,981.70-6,049,107.96 -6,049,288.95 -310,388.77 -5.13%
Report Surplus (Deficit):-281,981.70 -6,359,677.72-6,049,107.96 -6,049,288.95 -310,388.77 -5.13%
11
08/20/2025 Item B.
Budget Report For Fiscal: 2024-2025 Period Ending: 07/31/2025
8/15/2025 7:46:39 AM Page 4 of 5
Group Summary
Fiscal
AcƟvity
Variance
Favorable
(Unfavorable)
Period
AcƟvityCategory
Current
Total Budget
Original
Total Budget
Percent
Remaining
Fund: 111 - WYLIE ECONOMIC DEVEL CORP
Revenue
400 - Taxes 3,280,472.24392,577.134,990,217.00 4,990,217.00 -1,709,744.76 34.26%
430 - Intergovernmental 0.000.000.00 0.00 0.00 0.00%
460 - Interest Income 310,167.5822,223.04112,000.00 112,000.00 198,167.58 176.94%
480 - Miscellaneous Income 933,193.761,900.004,126,330.00 4,126,330.00 -3,193,136.24 77.38%
490 - Transfers In & Other Financing Sources 0.000.000.00 0.00 0.00 0.00%
4,523,833.58416,700.179,228,547.00 9,228,547.00 -4,704,713.42Revenue Total:50.98%
Expense
510 - Personnel Services 551,903.1954,479.08667,492.32 667,673.31 115,770.12 17.34%
520 - Supplies 4,371.29759.178,300.00 8,300.00 3,928.71 47.33%
540 - Materials for Maintenance 1,975.000.0010,150.00 10,150.00 8,175.00 80.54%
560 - Contractual Services 9,298,597.12540,777.1512,359,715.00 12,359,715.00 3,061,117.88 24.77%
570 - Debt Service & Capital Replacement 1,026,664.70102,666.471,231,997.64 1,231,997.64 205,332.94 16.67%
580 - Capital Outlay 0.000.001,000,000.00 1,000,000.00 1,000,000.00 100.00%
590 - Transfers Out & Other Financing Uses 0.000.000.00 0.00 0.00 0.00%
10,883,511.30698,681.8715,277,654.96 15,277,835.95 4,394,324.65Expense Total:28.76%
-6,359,677.72-281,981.70-6,049,107.96 -6,049,288.95 -310,388.77Fund: 111 - WYLIE ECONOMIC DEVEL CORP Surplus (Deficit):-5.13%
Report Surplus (Deficit):-281,981.70 -6,359,677.72-6,049,107.96 -6,049,288.95 -310,388.77 -5.13%
12
08/20/2025 Item B.
Budget Report For Fiscal: 2024-2025 Period Ending: 07/31/2025
8/15/2025 7:46:39 AM Page 5 of 5
Fund Summary
Fiscal
AcƟvity
Variance
Favorable
(Unfavorable)Fund
Period
AcƟvity
Current
Total Budget
Original
Total Budget
111 - WYLIE ECONOMIC DEVEL CORP -6,359,677.72-281,981.70-6,049,107.96 -6,049,288.95 -310,388.77
Report Surplus (Deficit):-281,981.70 -6,359,677.72-6,049,107.96 -6,049,288.95 -310,388.77
13
08/20/2025 Item B.
Wylie Economic Development Corporation
Statement of Net Position
As of July 31, 2025
Assets
Cash and cash equivalents 8,302,158.69$
Receivables 684,000.00$ Note 1
Inventories 14,063,964.34$
Prepaid Items -$
Total Assets 23,050,123.03$
Deferred Outflows of Resources
Pensions 84,397.55$
Total deferred outflows of resources 84,397.55$
Liabilities
Accounts Payable and other current liabilities 841,888.75$
Unearned Revenue 1,200.00$ Note 2
Non current liabilities:
Due within one year 168,842.69$ Note 3
Due in more than one year 14,482,701.43$
Total Liabilities 15,494,632.87$
Deferred Inflows of Resources
Pensions (8,542.41)$
Total deferred inflows of resources (8,542.41)$
Net Position
Net investment in capital assets -$
Unrestricted 7,631,345.30$
Total Net Position 7,631,345.30$
Note 1: Includes incentives in the form of forgivable loans for $34,000 (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
14
08/20/2025 Item B.
8/15/2025 7:45:29 AM Page 1 of 3
Balance Sheet
Account Summary
As Of 07/31/2025
Account Name Balance
Fund: 111 - WYLIE ECONOMIC DEVEL CORP
Assets
111-1000-10110 CLAIM ON CASH AND CASH EQUIV. 8,300,158.69
111-1000-10115 CASH - WEDC - INWOOD 0.00
111-1000-10135 ESCROW 0.00
111-1000-10180 DEPOSITS 2,000.00
111-1000-10198 OTHER - MISC CLEARING 0.00
111-1000-10341 TEXPOOL 0.00
111-1000-10343 LOGIC 0.00
111-1000-10481 INTEREST RECEIVABLE 0.00
111-1000-11511 ACCTS REC - MISC 0.00
111-1000-11517 ACCTS REC - SALES TAX 0.00
111-1000-12810 LEASE PAYMENTS RECEIVABLE 0.00
111-1000-12950 LOAN PROCEEDS RECEIVABLE 0.00
111-1000-12996 LOAN RECEIVABLE 0.00
111-1000-12997 ACCTS REC - JTM TECH 0.00
111-1000-12998 ACCTS REC - FORGIVEABLE LOANS 684,000.00
111-1000-14112 INVENTORY - MATERIAL/ SUPPLY 0.00
111-1000-14116 INVENTORY - LAND & BUILDINGS 14,063,964.34
111-1000-14118 INVENTORY - BAYCO/ SANDEN BLVD 0.00
111-1000-14310 PREPAID EXPENSES - MISC 0.00
111-1000-14410 DEFERRED OUTFLOWS 110,000.00
23,160,123.03Total Assets:23,160,123.03
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
111-2000-20114 IRS LEVY PAYABLE 0.00
111-2000-20115 NATIONWIDE DEFERRED COMP 0.00
111-2000-20116 HEALTH INSUR PAY-EMPLOYEE -2,608.66
111-2000-20117 TMRS PAYABLE 9,097.95
111-2000-20118 ROTH IRA PAYABLE 0.00
111-2000-20119 WORKERS COMP PAYABLE 0.00
111-2000-20120 FICA PAYABLE 0.00
111-2000-20121 TEC PAYABLE 0.00
111-2000-20122 STUDENT LOAN LEVY PAYABLE 0.00
111-2000-20123 ALIMONY PAYABLE 0.00
111-2000-20124 BANKRUPTCY PAYABLE 0.00
111-2000-20125 VALIC DEFERRED COMP 0.00
111-2000-20126 ICMA PAYABLE 0.00
111-2000-20127 EMP. LEGAL SERVICES PAYABLE 0.00
111-2000-20130 FLEXIBLE SPENDING ACCOUNT 7,780.48
111-2000-20131 EDWARD JONES DEFERRED COMP 0.00
111-2000-20132 EMP CARE FLITE -3.00
111-2000-20133 Unemployment Comp Payable 13.70
111-2000-20151 ACCRUED WAGES PAYABLE 0.00
111-2000-20180 ADDIT EMPLOYEE INSUR PAY 114.42
111-2000-20199 MISC PAYROLL PAYABLE 0.00
111-2000-20201 AP PENDING 423,277.20
111-2000-20210 ACCOUNTS PAYABLE 0.00
111-2000-20530 PROPERTY TAXES PAYABLE 0.00
111-2000-20540 NOTES PAYABLE 110,000.00
111-2000-20610 RETAINAGE PAYABLE 404,216.66
15
08/20/2025 Item B.
Balance Sheet As Of 07/31/2025
8/15/2025 7:45:29 AM Page 2 of 3
Account Name Balance
111-2000-20810 DUE TO GENERAL FUND 0.00
111-2000-22270 DEFERRED INFLOW 0.00
111-2000-22275 DEF INFLOW - LEASE PRINCIPAL 0.00
111-2000-22280 DEFERRED INFLOW - LEASE INT 0.00
111-2000-22915 RENTAL DEPOSITS 1,200.00
953,088.75Total Liability:
Equity
111-3000-34110 FUND BALANCE - RESERVED 0.00
111-3000-34590 FUND BALANCE-UNRESERV/UNDESIG 28,566,712.00
28,566,712.00Total Beginning Equity:
4,523,833.58Total Revenue
10,883,511.30Total Expense
-6,359,677.72Revenues Over/Under Expenses
Total Liabilities, Equity and Current Surplus (Deficit):23,160,123.03
22,207,034.28Total Equity and Current Surplus (Deficit):
16
08/20/2025 Item B.
Balance Sheet As Of 07/31/2025
8/15/2025 7:45:29 AM Page 3 of 3
Account Name Balance
Fund: 922 - GEN LONG TERM DEBT (WEDC)
Assets
0.00Total Assets:0.00
Liability
922-2000-28248 GOVCAP LOAN/SERIES 2022 7,281,368.05
7,281,368.05Total Liability:
Total Liabilities, Equity and Current Surplus (Deficit):7,281,368.05
0.00Total Equity and Current Surplus (Deficit):
*** FUND 922 OUT OF BALANCE ***-7,281,368.05
***Warning: Account AuthorizaƟon is turned on. Please run the Unauthorized Account LisƟng Report to see if you are out of balance due to missing
17
08/20/2025 Item B.
MONTH FY 2022 FY 2023 FY 2024 FY 2025
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$ 382,610.55$ (11,383.84)$ -2.89%
FEBRUARY 417,896.79$ 480,381.11$ 265,491.94$ 602,324.24$ 336,832.30$ 126.87%
MARCH 305,605.50$ 313,686.17$ 577,757.71$ 329,048.32$ (248,709.40)$ -43.05%
APRIL 265,773.80$ 310,050.94$ 341,335.06$ 322,976.93$ (18,358.13)$ -5.38%
MAY 401,180.20$ 434,878.33$ 448,671.55$ 471,458.46$ 22,786.91$ 5.08%
JUNE 343,371.26$ 330,236.89$ 377,949.25$ 388,872.57$ 10,923.32$ 2.89%
JULY 331,432.86$ 379,162.00$ 374,225.20$ 392,577.13$ 18,351.93$ 4.90%
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$ 3,280,472.23$ 126,360.75$ 7.72%
Total 4,161,281.96$ 4,611,795.64$ 4,874,240.18$ 3,280,472.23$ 126,360.75$ 7.72%
*** Sales Tax collections typically take 2 months to be reflected as Revenue. SlsTx receipts are then accrued back 2 months.
Example: July SlsTx Revenue is actually May SlsTx and is therefore the 8th allocation in FY25.
DIFF
24 vs. 25
% DIFF
24 vs. 25
Wylie Economic Development Corporation
SALES TAX REPORT
July 31, 2025
BUDGETED YEAR
$0
$100,000
$200,000
$300,000
$400,000
$500,000
$600,000
$700,000
WEDC Sales Tax Analysis
2024
2025
18
08/20/2025 Item B.
PERFORMANCE AGREEMENTS FY 2025 FY 2026 FY 2027 FY 2028 FY 2029
AMERICAN ENTITLEMENTS II 35,000.00$ 2,000.00$ 10,000.00$ -$ -$ -$ 10,000.00$ 23,000.00$ 35,000.00$
AXL 65,000.00$ 5,000.00$ -$ -$ -$ -$ -$ 46,500.00$ 51,500.00$
GLEN ECHO BREWING 100,000.00$ 30,000.00$ 20,000.00$ -$ -$ -$ 20,000.00$ 50,000.00$ 100,000.00$ A
MLKJ 80,000.00$ -$ 40,000.00$ 40,000.00$ -$ -$ 80,000.00$ -$ 80,000.00$ B
CLF II LI WYLIE (LOVETT)1,300,000.00$ 650,000.00$ -$ -$ -$ -$ -$ 650,000.00$ 1,300,000.00$
PHOENIX ASCENDING -$ -$ -$ -$ -$ -$ -$ -$ -$ C
SANDEN INTERNATIONAL 500,000.00$ 200,000.00$ -$ -$ -$ -$ -$ 300,000.00$ 500,000.00$
SANDS PHARMACY 40,000.00$ 40,000.00$ -$ 40,000.00$
2,120,000.00$ 927,000.00$ 70,000.00$ 40,000.00$ -$ -$ 110,000.00$ 1,069,500.00$ 2,106,500.00$
Deferred Outflow 110,000.00$
A. Performance Agreeement ($100,000) and Forgiveable Land Grant ($100,000 forgiven over 3 years). $33,000 CO, $33,000 in 2025, and $34,000 in 2026.
B. Performance Agreeement ($80,000) and Forgiveable Land Grant ($200,000 forgiven over 3 years). $50,000 CO & $50,000/year in 2027, 2028, & 2029.
C. Forgiveable Land Grant ($450,000 forgiven over 4 years). $112,500 CO & $112,500/year in 2026, 2027, & 2028.
Wylie Economic Development Corporation
PERFORMANCE AGREEMENT REPORT
July 31, 2025
TOTAL
INCENTIVE
REMAINING
AFTER
CURRENT FY
PREVIOUS FY
PAYMENTS
TOTAL
INCENTIVE
19
08/20/2025 Item B.
Wylie Economic Development
Board
AGENDA REPORT
Meeting Date: August 20, 2025 Item Number: 1
Prepared By: Jason Greiner
Subject
Consider and act upon Resolution 2025-01(R) between the WEDC and Government Capital Corporation.
Recommendation
Motion to approve Resolution 2025-01(R) between the WEDC and Government Capital Corporation.
Discussion
As the Board will recall, Staff began the process of evaluating options to borrow additional funds to finance the acquisition
of additional land or finance the costs of construction for improvements in order to promote economic development in
the City of Wylie. Following input from the Board, Staff requested term sheets to reflect an $6.7MM loan with a 240-
month term and a 2.5-year call restriction.
Passage of Resolution 2025-01(R) authorizes the borrowing of funds by the WEDC Board, with ratification of the
Resolution being presented to Council in September. The attached exhibit contains the Resolution Documents that will
authorize the borrowing of the funds.
Loan Terms: 240 months at 6.475% interest rate with a 7-year rate adjustment and 2.5-year call restriction. The target
funding date is September 15, 2025.
Tentative Timeline for Funding:
8/20/25 WEDC- Pass Authorizing Resolution (Authorizing the Borrowing)
8/26/25 City Council Action Item- Pass Sales Tax Remittance Resolution (Ratifying WEDC action)
9/15/25 Target Funding Date (wire transfer funds per Funding Memorandum)
9/17/25 WEDC Board Meeting- Budget Amendment to accept the Funds and Approve the FY 25 Budget
9/23/25 City Council Action Item- Budget Amendment to Accept the Funds and Approval of the WEDC Budget
As noted above, approval of WEDC Resolution 2025-01(R) provides Board authorization for the borrowing of funds
for the loan in the principal amount of $6,800,500. (This amount includes issuance costs of $100,500.)
20
08/20/2025 Item 1.
Wylie Economic Development Corporation
Preliminary Term Sheet
August 13, 2025* Updated
FINANCING STRUCTURE: Taxable Type A EDC Note
PLACEMENT: Private Placement
ESTIMATED SOURCES AND USES OF FUNDS:
Sources:
Note Proceeds $ 6,800,500.00
Total Sources $ 6,800,500.00
Uses:
Land Purchase $ 6,700,000.00
Issuance Costs (0.015) $ 100,500.00
Total Uses $ 6,800,500.00
*The issuance cost in the amount of $100,500.00 has been included in the payment amount, but it can also be paid outside of closing.
These fees represent the total issuance costs necessary for closing the transaction as contemplated. Issuance Cost Allocation includes
Special Tax Counsel, Private Placement Cost and Filing Fees.
PLACEMENT AGENT: Government Capital Corporation, Southlake, Texas
SPECIAL TAX COUNSEL: Naman, Howell, Smith & Lee, Austin, Texas
TERM: 10 Years (120 Mthly Pymts) 15 Years (180 Mthly Pymts) 20 Years (240 Mthly Pymts)
INTEREST RATE: 6.475% w/7yr rate adjust 6.475% w/7yr rate adjust 6.475% w/7yr rate adjust
MONTHLY PAYMENT: $ 77,131.83 $ 59,146.23 $ 50,602.66
MONTHLY PAYMENT: $ 75,991.95 (w/out iss. costs) $ 58,272.15* (w/out iss. costs) $ 79,854.84* (w/out iss. costs)
ESTIMATED CLOSING DATE: September 2025 September 2025 September 2025
FIRST PAYMENT DATE: October 2025 October 2025 October 2025
ADDITIONAL NOTES:
This transaction will be secured by a pledge of sales tax only. Government Capital will not require liens on the real estate. Additionally,
the traditional real estate closing costs including title policy, appraisal, survey, environmental studies, etc., will not be a contingency of
closing for Government Capital.
This transaction will be fully callable on any payment date after the 36th monthly payment (3 years).
The above proposal is subject to audit analysis and mutually acceptable documentation. The terms outlined herein are based on current
markets. Upon credit approval, rates may be locked for up to thirty (30) days. If funding does not occur within this time period, rates
will be indexed to markets at such time.
Stephanie Cates
Stephanie Cates
Client Services
Main: 817-421-5400
The transaction described herein is an arm’s length, commercial transaction between you and Government Capital Corporation. The terms of the proposed financing are being
provided solely in response to your specific inquiry and for your professional consideration.
21
08/20/2025 Item 1.
EDC RESOLUTION (2025)
CERTIFICATE FOR RESOLUTION
On August 20, 2025, we, the undersigned officers of Wylie Economic Development
Corporation (the “Corporation”), hereby certify as follows:
1. The Board of Directors of the Corporation convened in Regular Meeting on August
20, 2025 at the designated meeting place, and the roll was called of the duly constituted officers
and members of said Board of Directors, to wit:
Demond Dawkins President
Blake Brininstool Vice President
Harold Smith Secretary
Melisa Whitehead Member
Alan Dayton Member
Matthew Porter Mayor, Ex-Officio Member
Brent Parker City Manager, Ex-Officio Member
and all of said persons were present, except the following absentees: ________________, thus
constituting a quorum. Whereupon, among other business, the following was transacted at said
Meeting: a written
RESOLUTION 2025-01(R)
RESOLUTION OF THE BOARD OF DIRECTORS OF WYLIE
ECONOMIC DEVELOPMENT CORPORATION REGARDING A LOAN
IN THE PRINCIPAL AMOUNT NOT TO EXCEED $6,800,500.
was duly introduced for the consideration of said Board of Directors and read in full. It was then
duly moved and seconded that said Resolution be adopted; and, after due discussion, said motion
carrying with it the adoption of said Resolution, prevailed and carried by the following vote:
AYES: All members of the Board of Directors shown present above voted "Aye"
except as shown below.
NOES: _________________
ABSTAIN: _________________
2. That a true, full and correct copy of the aforesaid Resolution adopted at the Meeting
described in the above and foregoing paragraph is attached to and follows this Certificate; that said
Resolution has been duly recorded in said Board of Directors' minutes of said Meeting; that the
above and foregoing paragraph is a true, full and correct excerpt from said Board of Directors'
minutes of said Meeting pertaining to the adoption of said Resolution; that the persons named in
22
08/20/2025 Item 1.
EDC RESOLUTION (2025)
the above and foregoing paragraph are the duly chosen, qualified and acting officers and members
of said Board of Directors as indicated therein; that each of the officers and members of said Board
of Directors was duly and sufficiently notified officially and personally, in advance, of the time,
place and purpose of the aforesaid Meeting, and that said Resolution would be introduced and
considered for adoption at said Meeting, and each of said officers and members consented, in
advance, to the holding of said Meeting for such purpose, and t hat said Meeting was open to the
public and public notice of the time, place and purpose of said Meeting was given, all as required
by Chapter 551, Texas Government Code.
3. That the President of the Board of Directors of the Corporation has approved and
hereby approves the aforesaid Resolution; that the President and the Secretary of said Corporation
have duly signed said Resolution; and that the President and the Corporation Secretary of said
Corporation hereby declare that their signing of this Certificate shall constitute the signing of the
attached and following copy of said Resolution for all purposes.
23
08/20/2025 Item 1.
EDC RESOLUTION (2025)
Signed on the date first written above.
Harold Smith Demond Dawkins
Secretary, Board of Directors President, Board of Directors
24
08/20/2025 Item 1.
EDC RESOLUTION (2025)
RESOLUTION NO. 2025-01(R)
RESOLUTION OF THE BOARD OF DIRECTORS OF THE WYLIE
ECONOMIC DEVELOPMENT CORPORATION REGARDING A LOAN
IN THE PRINCIPAL AMOUNT NOT TO EXCEED $6,800,500.
WHEREAS, The WYLIE ECONOMIC DEVELOPMENT CORPORATION
(“Borrower”) proposes to enter into a Loan Agreement dated as of August 20, 2025 (as amended,
restated, supplemented and/or otherwise modified, the “Loan Agreement”), with Government
Capital Corporation, as lender (“Lender”) to enable the Corporation to (1) finance the costs to
acquire real property (the “Project”) in the City of Wylie, Texas (the “City”) for economic
development purposes, and (2) pay costs of issuing the loan, and as security for the payment of the
principal of and interest thereon, the Borrower has agreed to pledge its Economic Development
Sales and Use Tax. All capitalized terms used herein, but not otherwise defined herein, shall have
the meaning ascribed to such term in the Loan Agreement.
WHEREAS, the proposed form of the Loan Agreement, the Note (as defined in the Loan
Agreement) and the Sales Tax Remittance Agreement (as defined in the Loan Agreement) have
been presented to this meeting.
NOW THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS OF
THE WYLIE ECONOMIC DEVELOPMENT CORPORATION AS FOLLOWS:
Section 1. The Board of Directors agrees to enter into the Loan Agreement, Note and the
Sales Tax Remittance Agreement to finance the cost of the Property in the amount not to exceed
$6,800,500.00 at an interest rate of 6.475%, subject to adjustment as set forth in the Loan
Agreement, and, in order to secure payment of the principal and interest on the Note, to pledge its
Economic Development Sales and Use Tax.
Section 2. That any one or more of the Authorized Officers of the Borrower listed in
Section 3 below be, and each of them hereby is, authorized to execute, acknowledge and deliver
in the name and on behalf of Borrower to the Lender the Loan Agreement, including all
attachments and exhibits thereto, the Note and the Sales Tax Remittance Agreement. The Loan
Agreement, Note and Sales Tax Remittance Agreement shall be in substantially the form presented
to this meeting with such changes as the signing officer shall determine to be advisable. Further,
said Authorized Officers are authorized to execute, acknowledge and deliver in the name and on
behalf of the Borrower any other agreement, instrument, certificate, representation and document,
and to take any other action as may be advisable, convenient or necessary to enter into such Loan
Agreement, Note and Sales Tax Remittance Agreement; the execution thereof by any such
Authorized Officer shall be conclusive as to such determination.
Section 3. That for the purpose of this resolution, the following persons, or the persons
holding the following positions, are “Authorized Officers” duly authorized to enter into the
transaction contemplated by this resolution in the name and on behalf of Borrower:
25
08/20/2025 Item 1.
EDC RESOLUTION (2025)
Name Title
Demond Dawkins President
Blake Brininstool Vice-President
Harold Smith Secretary
Section 4. That there is hereby authorized the execution and delivery by the Authorized
Officers or any one of them in the name of and on behalf of Borrower the Loan Agreement,
including all attachments and exhibits thereto, the Note and the Sales Tax Remittance Agreement
in substantially the form presented to this meeting with such changes as the signing officer shall
determine advisable, and the execution thereof shall be conclusive as to such determination.
Section 5. That this Resolution shall take effect immediately.
PASSED AND ADOPTED this _____ day of _____________________, 2025.
WYLIE ECONOMIC DEVELOPMENT
CORPORATION
By: ______________________________________
Demond Dawkins, President
ATTEST:
By: ________________________________
Harold Smith, Secretary
26
08/20/2025 Item 1.
Wylie Economic Development
Board
AGENDA REPORT
Meeting Date: August 20, 2025 Item Number: DS1
Prepared By: Jason Greiner
Subject
Discussion regarding the Performance Agreement between WEDC and MLKJ Investments, LLC.
Recommendation
No action is requested by staff for this item.
Discussion
Staff will lead the discussion regarding the Performance Agreement between WEDC and MLKJ Investments, LLC.
27
08/20/2025 Item DS1.
Wylie Economic Development
Board
AGENDA REPORT
Meeting Date: August 20, 2025 Item Number: DS2
Prepared By: Jason Greiner
Subject
Staff report: WEDC Property Update, Temporary Access Agreements, Downtown Parking, Engineering Report,
Upcoming Events, and WEDC Activities/Programs.
Recommendation
No action is requested by staff on this item.
Discussion
WEDC Property Update:
Property Management
Staff have continued working with contractors to ensure that mowing and maintenance of trees on WEDC
properties are taking place.
Staff is working with contractor to repair parking lot behind Ballard at Marble.
Staff have been in communication with the former tenant of 106 N Birmingham, 605 Commerce/Suite 200, and
908 Kirby regarding payment of past due rent.
Pending Real Estate Agreements
Lot 1 of 544 Gateway: Shadyside Land and Cattle/Deft Ventures – Estimated Closing Date: 8-19-25
Lot 2 of 544 Gateway: SCSD –Closing Date: Oct/Nov
25 Steel Road: Aktrian Holdings – Feasibility Exp: 10-12-25; Closing Date: 11-11-25
Lot 5 of 544 Gateway: Lanspring Investments, LLC/Cates Control Systems – Feasibility Exp: 1-21-26; Closing
Date: 2-20-26
Listing Agreement – Segovia Partners (SP)
Pad Sites are both under contract. Upon closing, Staff will cancel the listing agreement.
SP has continued to market developable properties and has engaged with potential users/developers.
Staff will provide project updates as needed in Executive Session.
Engineering Report:
Design & Engineering - 544 Gateway Addition – Kimley Horn (KH).
Project is under construction with KH providing construction management as needed. Ongoing bi-weekly
coordination meetings are being held with the City, contractor, KH, and WEDC.
Relocation of all overhead fiber-optic lines is now complete.
TxDOT remobilization meeting was 8/13/2025. Tiseo will send the updated schedule, and the project has been
restarted as of 8/18/2025.
Tiseo met with Frontier onsite to discuss the relocation of a handhole in conflict with the work within the
TxDOT ROW. Frontier will relocate the week of 8-18-25.
Next project coordination meeting: TBD.
28
08/20/2025 Item DS2.
Downtown Parking and Drainage
The survey documentation that Union Pacific has requested has been provided.
KH waiting on the City of Wylie downtown project for the regional drainage solution.
KH preparing OPCC for parking options.
Design & Engineering - Cooper Plaza - State Hwy 78 & Brown
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.
KH created multiple Lot 6 concept plans.
KH creating the 2nd Street lot concept plans.
Next project coordination meeting: 8/21/25
Flood Study & Drainage Study- Hooper/Steel/Regency Business Park (KH)
WEDC met with the City of Wylie to discuss drainage solutions.
KH is preparing an IPO for the drainage infrastructure to serve future development of the SWC of Hooper and
FM 544.
Water & Sewer Extension - State Hwy 78/Alanis (KH)
KH has posted the project on CivCast. All bids are due 8/25/2025 at 5 pm.
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.
Jackson Avenue Development
Jackson/Oak/Marble parking exhibit and downtown sidewalk exhibits have been completed.
KH is coordinating with the City and design team for the Downtown infrastructure/wayfinding project to
coordinate parking, drainage, and the development's “theme.”
Working with KH to 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 sale/lease). The development will meet the requirements of
the Downtown overlay district.
Eubanks Easement/ROW Coordination
KH preparing an IPO for the design of Eubanks from SH-78 to Brown Street.
FM 544 Corridor Master Plans
KH working on concept plans.
KH has begun drainage analysis for the 45-acre concept plans.
Atmos Gas Main Extension- N Hwy 78
Atmos has sent the packet to MasTec along with a city permit and TxDOT permit. They will have a crew
available to start on August 28th.
WEDC General Engineering
KH preparing SH-78 Sidewalks IPO per direction from WEDC.
KH preparing Jackson/Oak/Marble parking and striping improvements IPO.
BRE & Workforce Updates:
Conducted two BRE visits with primary employers in July.
Identified an at-risk business in need of escalated intervention. Escalated for further action.
Participated in BIHANT Action Team sessions addressing workforce shortages in the Biotech/Healthcare
industry.
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08/20/2025 Item DS2.
Began work processes transition training for BRE activities/programs.
Continued planning activity for Fall programs, including the 2025 MFG Day program.
Strategic follow-ups with local businesses implementing internships/practicum programs.
Additional WEDC Activities/Programs in Review:
Ongoing efforts toward social media, Discover Wylie, and Social Media Rescue for local businesses.
Preliminary designs have been approved, and the staging environment is currently being set up to start work for
the refreshing of the existing Discover Wylie website. The improvements to the existing website will allow for
an easier transition of the DW assets into the new Historic Downtown Wylie website.
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 WISD New Teacher Luncheon (RH)
Staff participated in BHIANT Zoom Sessions (CS, AW)
Sales tax revenues for August are up 0.32%. YTD sales tax revenues are up 7.75%.
Committee Updates:
Budget Committee/Board Members met to discuss an overview of the proposed FY26 Budget. (DD, HS)
Upcoming Events:
Retail Live – September 4
Wylie Championship Rodeo – September 12-13
Manufacturing Day – October 2
TEDC Sales Tax Training – October 17
TEDC Annual Conference – October 29-31
Texas Downtown Annual Conference – November 3-5
Please see the attached Marketing Calendar for the full list of upcoming events.
30
08/20/2025 Item DS2.
2025 July Board Meeting – 17th
Day Time Meeting/Event
1 8:30-9:30 am WDMA Meeting
4 CLOSED 4th of July Independence Day Holiday- Office Closed
8 6:00 pm City Council/WEDC Budget Work Session
16 7:30 am WEDC- Board Meeting
22 6:00 pm City Council/ Final Budget Work Session with Council
22 11:30 am Chamber – WISD New Teacher Luncheon
24 5:01-7:00 pm 5:01 PM Professional Mixer – The Brass Tap – Sachse
2025 August Board Meeting – 20th
Day Time Meeting/Event
2 5:00 pm A Night to Remember – Honoring Raymond Cooper
5 8:30-9:30 am WDMA Meeting
10-12 SEDC Annual Conference – Oklahoma City, OK - jg
12 6:00 pm City Council
20 7:30 am WEDC- Board Meeting
21 5:00-7:00 pm Leadership Wylie Alumni Reception
22 TMAC Metroplex Manufacturing Leadership Summit – Ft. Worth
26 11:30 am Wylie Chamber of Commerce- Monthly Luncheon: Non-Profit Spotlight
26 6:00 pm City Council
26-27 Team Texas Annual Economic Consultant Summit – Waco, TX
28 5:01-7:00 pm 5:01 PM Professional Mixer – Creekside Fine Grill
2025 September Board Meeting – 17th
Day Time Meeting/Event
1 CLOSED Labor Day
2 8:30-9:30 am WDMA Meeting
4 Retail Live – Austin, TX – jg, rh
9 6:00 pm City Council
12-13 Wylie Championship Rodeo
14-17 IEDC 2024 Annual Conference – Detroit, MI
17 7:30 am WEDC- Board Meeting
18________________________ Leadership Wylie Opening Retreat - cs
19 CEDA Committee Meeting – Waco, TX - jg
23 11:30-1:00 pm 2024 Annual State of Education Chamber Luncheon *RSVP Required
23 5:30 pm MFG Day Reception/Proclamation at City Council Meeting
25 5:01-7:00 pm 5:01 PM Professional Mixer – Boomer’s Grill
Around the Corner…
MFG Day Launch/Tours – Oct 2
Basic Economic Development Course (BEDC) - Oct 7-10
MFG Day – Pharmaceutical Tours – Oct 8
MFG Day – Culinary Arts – Oct 10
Hope Under the Stars – Oct 11 *RSVP Required
TEDC Sales Tax Training – Oct 17
MFG Day – Construction & Architecture – Oct 22
TEDC Annual Conference – Oct 29-31 *RSVP Required
Texas Downtown Conference – Nov 3-5
31
08/20/2025 Item DS2.