05-10-1994 (WEDC) Minutes MINUTES
DEVELOPMENT CORPORATION OF WYLIE, INC.
Tuesday, May 10, 1994
The Directors of the Development Corporation of Wylie, Inc. met in regular session at 4:00 PM
on Tuesday, May 10, 1994 in the Chamber of Commerce Board Room at 108 W. Marble,
. Wylie, Texas. A quorum was present and notice of the meeting had been posted in the time and
manner required by law. Those present were President Raymond Cooper, Vice-President John
Tobin, Secretary/Treasurer John Yeager and members John Monday and Marvin Fuller. From
the City staff were City Manager Steve Norwood, City Attorney Steve Deiter, and Mike
Collins, Administrative Assistant.
The Meeting was called to order by President Raymond Cooper.
ITEM NO. 1 - DISCUSS AND CONSIDER APPROVAL OF MINUTES FROM MEETING
HELD ON APRIL 12, 1994 - Item no. 2, Charlie Womack corrected "income of$355,924" to
"income of $22,516.22 and "expenses of $4,186.52" to "expenses of $4,218.75. Correction
Item No. 3, line 20 "Shutter Showcase" to "Shutter Showroom". A motion was made by John
5 Yeager and seconded by Marvin Fuller to approve the minutes as corrected. All in favor,
motion carried.
Mr. Womack also noted, with reference to Item No. 4, line 5 page 2 of the minutes, that Mr.
Rutledge of Crain and Rutledge, Auditors, had returned all 15 copies without making the changes
10 requested.
ITEM NO. 2 - DISCUSS AND CONSIDER APPROVAL OF MINUTES FROM "SPECIAL
CALLED MEETING" HELD ON MAY 3, 1994 - No corrections or additions, motion made by
John Tobin to approve as submitted, seconded by John Yeager. Motion carried, all in favor.
15
ITEM NO. 3 - DISCUSS AND CONSIDER APPROVAL OF TREASURER'S REPORT
ENDING APRIL 30, 1994. Treasurer's report reflected Total Corporate Funds 3/31/94
$360,662.01; Total Money Market Funds Available- $371,477.63; Expenses- $7035.20; Money
Market Funds Available 5/1/94 - $364,442.43; Petty Cash Balance 3/31/94 - $316.62; Total
20 Corporate Funds 3/31/94 $373,349.57. A motion was made by Marvin Fuller and seconded by
John Tobin to accept the treasurer's report as submitted. Motion carried, all in favor.
ITEM NO. 4 - REPORT FROM EXECUTIVE DIRECTOR, C.C. WOMACK - Mr. Womack
stated that he will he making some changes on the balance sheet as submitted as of 4/30/94.
25 Report included items referencing Physicians Regional Hospital, Jim Meara d/h/a/ The Meara
Company, Unger Associates, Dallco Marketing, Inc., Zlan, Ltd., a new prospect, which several
of the board members have visited, the consensus of opinion being they would he a desirable
addition to the business community of Wylie; Success Trak, J. C. Ornamental Iron Works, Inc.,
Collin County Economic Development Executives, Small Business Development Center Training
30 Center. Director's report attached to these minutes.
ITEM NO. 5 - DISCUSS FEASIBILITY OF FILING APPLICATION WITH TEXAS DEPT.
OF COMMERCE FOR LINE OF CREDIT - This line of credit would be funded from the
35 Leverage Fund Program. Concensus from discussion was to prepare as much as possible and
then wait for a "user". Wylie City Council would need to approve.
ITEM NO. 6 - REVIEW REQUEST FOR MEMBERSHIP FROM TEXAS CHAMBER OF
COMMERCE - Concensus from discussion was not do anything at this time.
40
ITEM NO. 7 - REVIEW REQUEST FROM M.B. SYSTEMS TO MAKE A PRESENTATION
OF THEIR NEW CD ROM COMPUTER PROGRAM - Concensus was to pass on this at this
time.
45 ITEM NO. 8 - REVIEW AND APPROVE REQUEST FROM ZLAN, LTD. TO FUND
COMMITMENT DATED 3/8/94 - Following the discussion, a motion was made by John Tobin
and seconded by John Yeager to proceeed with the funding at 50% now and 50% 30 days after
Zlan has moved into their facility. Motion carried, all in favor.
50 ITEM NO. 9 - RECESS OPEN MEETING - Open meeting recessed by President Raymond
Cooper.
ITEM NO. 10- RECONVENE INTO EXECUTIVE SESSION - Discussion item UPDATE ON
LAND PURCHASE.
55
ITEM NO. 11 - RECONVENE INTO OPEN SESSION
ITEM NO. 12 - CITIZEN PARTICIPATION - none
60 ITEM NO. 13 - ADJOURNMENT
f / L_
65 Ray and Cooper/Pres.
Resp fully submitted:
70
Ba Kara LeCocq, Se retary
attachment: Director's Summary of April Activities