05-11-2012 (WEDC) Minutes Minutes
Wylie Economic Development Corporation
Board of Directors Meeting
Thursday, May 24, 2012 12:00 P.M.
WEDC Offices—Conference Room
250 South Highway 78—Wylie, Texas
CALL TO ORDER
Announce the presence of a Quorum
President Marvin Fuller called the meeting to order at 12:06 p.m. Board Members present were:
Chris Seely, and John Yeager.
WEDC staff present was Executive Director Sam Satterwhite.
Ex-officio members Mayor Eric Hogue and Mindy Manson were present.
CITIZEN PARTICIPATION
There being no citizen participation, President Fuller proceeded to Action Items.
ACTION ITEMS
ITEM NO. 1 — Consider and act upon approval of a Discretionary Service Agreement
between the Wylie Economic Development Corporation, a Component Unit of the City of
Wylie, and Oncor Electric Delivery Company.
Staff presented a Discretionary Service Agreement between the WEDC and Oncor which details
project specifications and costs associated with the burial of 2,350 feet of overhead electric in the
vicinity of the PM Realty project on F.M. 544. Staff reviewed that in addition to the partial
waiver of Thoroughfare Impact Fees by the Wylie City Council and the WEDC construction of
median improvements, the WEDC further committed via a Performance Agreement with PM
Realty to bury overhead electric adjacent to the PM site. Staff further commented that even with
the $523,000 in incentives to this project,the break-even point is 3.3 years.
President Fuller directed staff to ensure that the property owner bears 100% of the responsibility
for acquiring and documenting the easements required by Oncor for this project. President
Fuller also inquired as to what further responsibility the WEDC would have to bury other
overhead utilities in the area. Staff responded that the WEDC would have to bring power to the
TxDOT switchgear at a cost of ±$10,000 and also bury an overhead line belonging to Time
Warner at a cost of ±$10,000. President Fuller commented that he believed the expense
associated with Time Warner which was quoted in a previous meeting was higher and asked staff
to confirm that amount.
WEDC—Minutes
May 24, 2012
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Staff informed the Board that since the WEDC is a Component Unit of the City of Wylie the cost
associated with the improvements ($208,101.83) will not be payable until the work is complete.
Staff also indicated that Mr. Barry Young of Oncor was continuing to process the WEDC request
for financial assistance. President Fuller directed staff to determine whether the WEDC should
directly contact Mr. Young's supervisor to seek relief.
Board member Seely commented that while the cost is significant, he had been part of other
projects with less distance and significantly more cost.
MOTION: A motion was made by Chris Seely and seconded by John Yeager to
approve a Discretionary Service Agreement between the WEDC and Oncor
Electric Delivery Company in the amount of $208,101.83 and further
authorize the WEDC Executive Director to execute said Agreement. The
WEDC Board voted 3 —FOR and 0—AGAINST in favor of the motion.
DISCUSSION ITEMS
ITEM NO. 2 - Consider issues pertaining to ICSC 2012.
Staff provided an update of the companies contacted at ICSC 2012 which included the following:
Clarke Street, Direct Development, United Commercial Realty, Venture Commercial, Edge
Realty, The Retail Connection, Denny's, Dunkin Brands, Freebird's, Anamia's, 5 Guy's,
Smashburger, Del Taco, A&W, Pizza Hut, Wal Mart, LA Fitness, DQ International, City of
Forney, City of Murphy, and Chipotle. Staff commented that the follow-up after the conference
is as or more important than the conference itself and committed to updates over the next several
months.
ITEM NO. 3 - Consider issues pertaining to Sanden International(U.S.A.), Inc.
Staff presented the Board with a Request for Proposal from Sanden International for public
assistance with the potential investment of a $24 mm piston line. Sanden has presented the RFP
to multiple communities in the area. Staff committed to having a recommendation to the Board
by June 22, 2012. Staff also commented that the City Council will be briefed on the RFP on
June 12, 2012.
EXECUTIVE SESSION
The WEDC Board did not recess into Closed Session.
ADJOURNMENT
With no further business, President Fuller adjourned the WEDC Board meeting at 12:50 p.m.
WEDC—Minutes
May 24, 2012
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4)/
Marvin Fuller,President
ATTEST:
Samuel Satterwhite,Director