06-14-1994 (WEDC) Minutes MINUTES
DEVELOPMENT CORPORATION OF WYLIE, INC.
Tuesday, June 14, 1994
The Directors of the Development Corporation of Wylie, Inc., met in regular session at 4:00 PM
on Tuesday, June 14, 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 Mondy and Marvin Fuller. The City staff
was represented by City Manager Steve Norwood, Administrative Assistant Mike Collins, City
Attorney Steve Deiter and secretary Barbara LeCocq.
The meeting was called to order by President Raymond Cooper.
ITEM NO. 1 - DISCUSS AND CONSIDER APPROVAL OF MINUTES FROM MEETING
HELD ON MAY 10, 1994 AND APPROVAL OF CORRECTED MINUTES FROM MEETING
HELD ON TUESDAY, APRIL 12, 1994. Hearing no corrections or additions to the minutes,
a motion was made by Marvin Fuller to approve as submitted. Second by John Yeager. All in
5 favor, motion carried.
ITEM NO. 2 - CONSIDER ACCEPTANCE OF RESIGNATION SUBMITTED BY PRESIDENT
RAYMOND COOPER. The letter of resignation was read. Motion was made by John Yeager
to accept the resignation of Raymond Cooper as president of the Development Corporation of
10 Wylie, Inc. Second by John Tobin. All in favor. Motion carried.
ITEM NO. 3 -REVIEW AND CONSIDER APPROVAL OF TREASURER'S REPORT ENDING
MAY 31, 1994. The treasurer's report reflected Total Corporate Funds as of 4/30/94
$373,349.57; income including Money Market Funds Available 5/1/94 $364,442.43, Sales Tax
15 Revenue $36,509.29; Interest Earned $794.42; Note Payment $318.00; Transfer - American
National Bank - Terrell $8,685.01 for a Total Monday Market Funds Available $410,749.15.
Expenses $8,094.74; Petty Cash Balance 6/1/94 289.12 and Total Corporate Funds 6/1/94
$402,934.53. Following the discussion, a motion was made by Marvin Fuller to approve the
treasurer's report as submitted; second by John Mondy. All in favor, motion carried.
20
ITEM NO. 4 -REPORT FROM EXECUTIVE DIRECTOR-Executive Director Charlie Womack
presented a typed copy summarizing May activities for the DCW. A copy of this report is
attached to these minutes. Mr. Womack commented that John Monday has been added to the
board of Physicians Regional Hospital. Also noted that there has been the addition of a new
25 general family practice doctor - Dr. Keltch which is expected to add to the daily patient count.
The hospital continues to be profitable and futured prospects indicate financial success.
Discussion and comments included Jim Meara, d/b/a/ The Meara Company. He is continuing to
seel lots to Horton Homes; however, the pungent odor from a local company appears to be
having an impact on sales. W.K.P. Machines Company, representative William K. Peng was
30 recently in Wylie and visited with Charlie Womack. He explained the economic and
environmental problems now existing in California where the company is now based and
expressed an interest in relocating to this general area. The company manufacture wheels and
casters for refuse containers, builds trash truck bodies and sells industrial machinery imported
from Taiwan. Mr. Womack's reports included updates on Zlan, Ltd. and J. C. Ornamental
35 Ironworks, Inc., Kiamichi Railroad and a new prospect that is considering Wylie as a relocation
site.
ITEM NO. 5 - CONSIDER APPROVAL OF REQUEST FROM ZLAN, LTD. TO FUND
REMAINING BALANCE DUE ON DCW COMMITMENT DATED MARCH 8, 1994.
40 Following a brief discussion, a motion was made by Marvin Fuller to approve payment of the
balance due on the commitment to Zlan, Ltd. Second by John Tobin. All in favor, motion
carried.
ITEM NO. 6 - REVIEW AND CONSIDER DECISION ON REQUEST FOR FINANCIAL
45 ASSISTANCE SUBMITTED BY J. C. ORNAMENTAL IRON, INC. Owners have requested
a grant of $7500 for relocation costs, primarily to recover cost of paint booth required by city
codes. Steve Norwood, City Manager stated that any grant or loan money should be for
relocation costs only, and not be for any modifications needed to meet City codes. After lengthy
discussion a motion was made by John Tobin to offer a grant in the amount of$2000 and a loan
50 of$5500 at 7%. Payments may be deferred up to 90 days from date of loan, with length of loan
not to exceed 24 months. Second by John Mondy. All in favor, motion carried.
ITEM NO. 7 - REVIEW AND CONSIDER DECISION ON REQUEST FOR FINANCIAL
ASSISTANCE BILED BY THE SHUTTER SHOWROOM. They are requesting a grant from
55 DCW in the amount of $27,767.00 to fund the cost of modifying the Wylie building to
accommodate their electrical needs. Currently, billing is done from their Dallas location andg
generates no sales tax for the City of Wylie. After lengthy discussion, a motion was made by
John Mondy to grant $15,000 to be paid at $5000 annually over the next three years predicated
on Shutter Showroom maintaining an average of 30 full-time employees. In addition, provided
60 Shutter Showroom moves their "point of sale" to Wylie, and maintains annual sales, billed from
Wylie, of a minimum $250,000, the DCW will grant an additional $15,000 to be paid annually
over a three year period. Second by Marvin Fuller.
ITEM NO. 8 - RECESS OPEN MEETING - Open meeting recesssed by Acting President John
65 Yeager.
ITEM NO. 9 - RECONVENED INTO EXECUTIVE SESSION.
ITEM NO. 10 -
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ITEM NO. 11 - CITIZEN PARTICIPATION - NONE
ITEM NO. 12 - ADJOURNMENT
75
hn age , Acting President
Respectfully submitted:
dir ! 'P►
Barbara LeCocq, S 1 retary