11-09-1995 (WEDC) Minutes Minutes
THE DEVELOPMENT CORPORATION OF WYLIE, INC.
Thursday, November 9, 1995
The Directors of the Development Corporation of Wylie, Inc. met in special session at 5:30 PM,
Thursday, November 9, 1995, in the Chamber of Commerce Board Room at 108 West Marble
Street, Wylie, Texas. A quorum was present and notice of the meeting had been posted in the
time and manner required by law. Present were President John Yeager, Secretary-Treasurer
Marvin Fuller, Directors Irene Messenger, J.C. Worley, Kevin St. John, City Manager, Mike
Collins, and Executive Director C.C. Womack. Also present Chad Engbrock of The Wylie News.
The meeting was called to order by President John Yeager.
ITEM NO. 1 - Discuss and consider approval of a financial assistance request received
from Savage Precision Fabrication, Inc. A motion was made by J.C. Worley to approve a
$25,000.00 loan request at an interest rate of 10% for three years. Interest only to be paid each
year. At the end of three years the loan will be forgiven provided they are still in business in
Wylie and current real and personal taxes are paid. The annual interest payment may be forgiven
at the Board's option. In addition; the Development Corporation will give two dollars (up to
$5,000) for every dollar spent ion landscaping and exterior improvements during the first 12
months in operation. The motion was seconded by Kevin St. John. All in favor - motion carried.
ITEM NO. 2 - Recess Open Meeting. President Yeager closed the regular meeting and the
officers met in Executive Session.
ITEM NO. 3 - Convene Executive Session under 551-072 Government Code for the
purpose of discussing personnel matters.
ITEM NO. 4 - Reconvene Open Meeting. President Yeager again called the meeting to order.
ITEM NO. 5 - Take appropriate action resulting from discussion in Executive Session,
Personnel Matters. A Motion was made by J.C. Worley that the Corporation accept the
resignation of the Executive Director, C.C. Womack be accepted, effective February 29, 1996.
The motion was seconded by Irene Messenger. All in favor - motion carried.
ITEM NO. 6 - Citizens participation. There was no citizen participation.
ITEM NO. 7 - Adjournment.
.olui Y •ager, President
Att
Bar ara LeCocq, Secret ry