08-20-2025 (WEDC) MinutesWylie Economic Development Corporation
Board of Directors Regular Meeting
August 20, 2025 — 7:30 A.M.
W-F,DC Offices — Conference Room
250 S Hwy 78 — Wylie, TX 75098
CALL TO ORDER
Announce the presence oj*a Quorum
President Demond Dawkins called the meeting to order at 7:35 a.m. Board Members present were Vice
President 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 I lermes, BRIE
Director Angel Wygant, Research Analyst Marissa Butts, and Office Manager Christy Stewart.
]INVOCATION & PLEDGE OF ALLEGIANCE
Angel Wygant gave the invocation and led the Pledge of Allegiance.
COMNIF'NTS 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 ofDirectors
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 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.
Board Action
A motion was made by Melisa Whitehead, seconded by Blake Brininstool, to approve the Consent
Agenda as presented. A vote was taken, and the motion passed 5-0.
REGULAR AGENDA
1'. Consider and act upon Resolution 2025-01(R) between the WEDC and Government Capital
Corporation.
Discussion
Staff rem inded the Board that they had previously evaluated options to borrow ftinds to finance the
acquisition of additional land or finance the costs of construction for infrastructure improvements.
Government Capital representatives Stewart Shirey and Stephanie Cates provided further
discussion and information regarding Resolution 2025-0 1 (R) between the WEDC and Government
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August 20, 2025
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Capital Corporation. Discussion took place regarding short-term versus long-term loans to
maximize buying power over time, and the recommended loan term being presented for the Board's
consideration reflects 240 months at a 6.475% interest rate with a. 7-year rate adjustment and 2.5-
year call restriction. The target funding date is September 15, 2025.
Board Action
A motion was made by Blake Brininstool, seconded by I-larold Smith, to approve Resolution 2025-
0 1 (R) between the WEDC and Government Capital Corporation. A vote was taken, and the motion
passed 5-0.
DISCUSSION ITEMS
DS1. Discussion regarding the Performance Agreement between WEDC and MIXJ Investments, LLC.
Discussion
Staff noted that it is unlikely for MI,KJ to complete the Performance Obligations for Year One. It
has been observed that the new construction contractor has not been out, and there has been no
progress on the site. Staff discussed the next steps and what to expect in the Event of Default as
outlined in the contract. Staff will continue to provide weekly project updates as requested by the
Board.
DS2. Staff report: WEDC Property 'Update, Temporary Access Agreements, Downtown Parking,
Engineering Report, Upcoming Events, and WEDC Activities/Programs.
Discussion
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, Staff noted that Shadyside
Land and Cattle, formerly known as Deft Ventures, is now 2 acres Shadyside LLC, and they are
expected to close by the end of day. Regarding BRE, Staff mentioned a new program for IT
internships with state agencies that will launch soon. Staff reminded the Board of upcoming events,
including the Wylie Championship Rodeo, Manufacturing Day, and TEDC Sales Tax Training. Staff
noted. a 0.32% increase in sales tax revenues for August, with an overall 7.75% increase for the year.
EXECUTIVE SESSION
Recessed into Closed Session at 8:04 a.m. in compliance with Section 551.001, et. seq. Texas Government
Code, to wit:
See. 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.
See. 551.087. DELIBERATION REGARDING ECONOMIC DEVELOPMENT NEGOTIATIONS;
CLOSED MEETING.
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August 20, 2025
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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-le,
2023-1 c, 2023-2d, 2023-8a, 2023-1 lb, 2024-5a, 2024-5f, 2024-8d, 2024-9d, 2024-1 Oc, 2024-12c,
2025-4a, 2025-4d, 2025-5g, 2025-511, 2025-6a, 2025-6d, 2025-6e, 2025-8a, 2025-8b, 2025-8c,
2025-8d, 2025-8c, and 2025-8f.
IMCONVENE INTO OPEN SESSION
Take any action as a result of the Executive 5ession.
President Dawkins reconvened into Open Session at 9:12 a.m. and the Board took the following actions.
Board Action
A motion was made by Melisa Whitehead, seconded by Blake Brininstool, to authorize the
purchase of Tract 42, a 7.585-acre lot, and Tract 46, a .863-acre lot located in Davidson
Survey in the amount of $4,415,938.56 (plus all required closing costs), further authorizing
the WEDC Board President or his/tier designee to execute all documentation necessary
to effectuate the transaction. A vote was taken and the motion passed 5-0.
Board Action
A motion was made by Harold Smith, seconded by Alan Dayton, to authorize the purchase
of MJD & HIM ENTERPRISES (CWY), BLK A, LOT 1, a 3.66-acre lot, the amount of
$2,200,128.48 (plus all required closing costs), further authorizing the WFDC Board
President or his/her designee to execute all documentation necessary to effectuate the
transaction. A vote was taken and the motion passed 5-0.
FUTURE AGENDA ITEMS
There were no Items requested for inclusion on future agendas.
Fj 12LGPJ 0910" 1 WIN
With no further business, President Dawkins a4iourned the WEDC, Board meeting at 9:14 am.
Demond Dawkins, President
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Jasou,,G rei tier, FeWt'jveDirector