04-06-2016 (WEDC) Minutes Minutes
Wylie Economic Development Corporation
Board of Directors Meeting
Wednesday, April 6, 2016—6:30 A.M.
WEDC Offices—Conference Room
250 South Highway 78—Wylie, Texas
CALL TO ORDER
Announce the presence of a Quorum
Vice President Mitch Herzog called the meeting to order at 6:34 a.m. Board Members present were
Todd Wintters, Demond Dawkins, and John Yeager.
Ex-officio members City Manager Mindy Manson and Mayor Eric Hogue were present.
WEDC staff present was Executive Director Sam Satterwhite, Assistant Director Jason Greiner and Sr.
Assistant Angel Wygant.
Wylie Police Officer Taylor was also present.
CITIZEN PARTICIPATION
Lynn Grimes was in attendance and informed the Board that RaceTrac is now ranked No 1 in the nation
for 6K stores with in-store sales exceeding$108,000 per week.
ACTION ITEMS
ITEM NO. 1 — Consider and act upon approval of the March 18, 2016 Minutes of the Wylie
Economic Development Corporation (WEDC) Board of Directors Meeting.
MOTION: A motion was made by John Yeager and seconded by
Todd Wintters to approve the March 18, 2016 Minutes of the Wylie Economic
Development Corporation. The WEDC Board voted 4 —FOR and 0 —AGAINST
in favor of the motion.
ITEM NO.2—Consider and act upon purchase of abandoned right-of-way from the City of Wylie
consisting of 0.292 acre, or approximately 12,718 square feet, located near the intersection of
Birmingham Street and Industrial Court.
Staff informed the Board that on March 22, 2016 the Wylie City Council met in Regular Session and
approved an Ordinance abandoning a portion of Industrial Court being a 50' public right-of-way, and to
waive the requirement for an appraisal within the Railroad Industrial Park Addition, surrounding Lots
4-8, consisting of 0.292 acre or approximately 12,718 square feet. In requesting a waiver for a certified
appraisal of the subject property, WEDC staff documented the average square foot land value of all
surrounding and adjacent properties, as appraised by the Collin County Central Appraisal District,being
equivalent to$4.14 per square foot and proposed the same for the sale of the right-of-way to the WEDC.
WEDC—Minutes
April 6, 2016
Page 2 of 3
Having acquired all properties surrounding the subject right-of-way (Lots 4-8), the WEDC will
ultimately redevelop Industrial Court creating three pad sites to be marketed for retail/commercial uses.
As attached, a survey of the subject property was provided to the City of Wylie along with a concept site
plan depicting future development options. The WEDC will have six (6) months to replat the property
at which time an access easement will be created to provide ingress/egress to State Highway 78.
Staff recommended that the WEDC Board of Directors authorize President Fuller to execute all
documentation necessary to purchase ±0.292 acre (12,718 square feet) from the City of Wylie in the
amount of$52,652.52.
MOTION: A motion was made by Todd Wintters and seconded by Demond Dawkins to
authorize President Fuller to execute all documentation necessary to purchase±0.292
acre (12,718 square feet) from the City of Wylie in the amount of$52,652.52. The
WEDC Board voted 4—FOR and 0—AGAINST in favor of the motion.
ITEM NO. 3— Consider and act upon a Performance Agreement between the WEDC and FLM
Development,LLC.
Staff reminded the Board that the WEDC is under contract to sell 1.433 acres to McClure Partners,LLC.
With the WEDC tract located near the southeast corner of Regency and F.M. 544, McClure Partners is
also purchasing an adjacent 0.69-acre tract from the Jacobs family and a 1.66-acre tract from Mr. Scott
Goldenberg. The combined 3.783-acre tract has been approved for platting creating 3 pad sites to be
marketed for retail/commercial uses.
The development arm of McClure Partners (FLM Development, LLC) will be making infrastructure
improvements to the property in the form of water& sewer to serve the site and median improvements
providing direct access from west bound F.M. 544 and access from east bound F.M. 544 for future
development to the north. Offsite drainage improvements will also be installed on the west side of
Regency to accommodate the increased flow.
As per the attached Performance Agreement,the WEDC is providing infrastructure assistance for median
improvements and storm sewer improvements within Regency Drive. In order to qualify for financial
assistance, FLM must (a) close on the WEDC tract simultaneously with the Jacobs and Goldenberg
tracts, (b) file a plat with Collin County within 5 days of closing combining the WEDC, Jacobs, and
Goldenberg tracts, (c)secure a permit from TxDOT for driveway and median improvements fronting the
subject tracts prior to closing, (d) remove all improvements on the WEDC tract consisting of a 2,800
square foot building and fence no later than 8-30-16, (e) remove an existing billboard located on the
Jacobs tract no later than 8-30-16, (f) remove all improvements located on the Goldenberg tract
consisting of a 3,375 square foot building no later than 8-30-16, (g) complete median improvements on
F.M. 544 no later than 11-1-16,and(h) complete drainage improvements within Regency Drive no later
than 11-1-16.
After complying with all of the above performance requirements, FLM will qualify for reimbursement
of infrastructure costs associated with median improvements equal to 50% of design and construction
up to a maximum $37,500, and reimbursement of infrastructure costs associated with drainage
improvements to Regency Drive equal to 50%of construction costs up to a maximum of$39,173.
WEDC—Minutes
April 6, 2016
Page 3 of 3
Staff recommended that the WEDC Board of Directors approve a Performance Agreement between the
WEDC and FLM Development, LLC.
MOTION: A motion was made by Todd Wintters and seconded by John Yeager to approve a
Performance Agreement between the WEDC and FLM Development, LLC. The
WEDC Board voted 4—FOR and 0—AGAINST in favor of the motion.
EXECUTIVE SESSION
Recessed into Closed Session at 6:50 a.m. in compliance with Section 551.001, et.seq. Texas Government
Code, to wit:
President Fuller arrived at 6:52 a.m.
Section 551.072 (Real Estate) of the Local Government Code, Vernon's Texas Code Annotated(Open
Meetings Act). Consider the sale or acquisition of properties located near the intersection of:
• Cooper Drive & State Highway
• Martinez&Alanis
• Commerce &F.M. 544
• Oak& Ballard
Section 551.087 (Economic Development) of the Local Government Code, Vernon's Texas Code
Annotated(Open Meetings Act).
• Project 2015-4a
• Project 2015-12a
• Project 2016-la
• Project 2016-lb
RECONVENE INTO OPEN MEETING
The WEDC Board of Directors reconvened into open session at 7:22 a.m. and took no action.
ADJOURNMENT
With no further business, Vice President Herzog adjourned the WEDC Board meeting at 7:22 a.m.
Mitch Herzog,Vice President
ATTEST:
Samuel Satterwhite,Director