06-02-2008 (WEDC) Minutes Minutes
Wylie Economic Development Corporation
Board of Directors Meeting
onday, June 2, 2008 — 6:00 A. 1.
Inwood National Bank— Conference Room
200 South Hi way 78 — Wylie, Texas
CALL TO ORDER
Announce the presence o a Quorum
President Fuller called the w eeting to order at 6:18 a.m. Board Members preset were: John
Yeager, Mitch Herzog, and Chris Seely.
Staff present was Executive Director Sam Satterwhite and Administrative Assistant Gerry Harris.
Ex-Officio Board embers Mindy Ma son and ayor Eric Ho e were present.
MIZE " PARTICIPATION
There being no citizen participation, President Fuller proceeded to Action Items,
ACTICY ITH MS
ITEM NO. 1 — Consider and Act Upon Approval of the May 15, 2008 minutes of the
WEDC Hioard of Directors Meeting.
MOTION: A motion was made by Mitch Herzog and seconded by Chris Seely to
approve the May 15, 2008 Minutes of the WEDC Board of Directors
Meeting. The WEDC Board voted 4 — FOR and 0 — AGAINST in favor of
the motion.
ITEM HO. 2 — Staff Update: Review Staff Activities and Ongoing WEDC Projects.
Kansas City Southern Railway Company (KCS): On May 22nd, a representative from The
Staubach Company contacted the WEDC reporting on KCS''s acceptance of terms for the
Purchase Agreement for+0.3055 acre located on Cooper Drive. Staff has yet to receive the final
contract, hut anticipates delivering it to the title company by the 20th of June.
Savage Precision Fabrication, Inc.: All closing documents have been executed with Savage to
begin di work within the next seven days. The groundbreaking held on the 28111 was a
tremendous success with over fifty people in attendance. Raymond Construction is scheduled to
complete the facility by December 22, 2008.
Paving of alley between Ballard and First Streets: Staff H et with the Planning Department to
detei inc the viability of WEDC participation in paving an alley orth of Jefferson and south of
Brown Streets, and east of Ballard and west of First Streets, WE DC involvement in this project
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June 2, 2008
Page 2 of 4
would be driven by the benefit to an area transitioning from si gie family to commercial uses.
Paving the currently unpaved alley would create more customer parking in front being that
employees could park in the rear. Preliminary cost estimates are $25,000 - $50,000.
iLflC Kuts Distribution: Mr. Marty Anderson informed staff that his business will cease
operations at 207 Industrial Court effective June 2, 2008. Mr. Anderson will still require several
months to clean out the facility of eq ipment, primarily the freezers. Mr. Anderson has until
October to vacate the premises per the te is of the Lease Agreement currently in place. Staff
has already contacted a company which is currently located outside the City limits which is
looking for space. Staff is unsure of the lease rate to be charged, but did indicate a range of
$2,000 - $2,600 per month. A lease rate analysis will be performed over the next 30 days and
presented to the Board for approval.
211-A Industrial Court: With Delta-E vacating the premises, the WEDC has leased the 5,000
square foot space to A2Z Machine who will occupy the space effective J ne I S Staff conveyed
that A2Z is considering installing 2, 7-ton A/C units in the manufacturing area. A2Z has
requested that the WEDC consider assistance in the form of rent waiver to help offset the
permanent improvements being made to the b ilding.
Staff had no recommendations for this item.
PRESE 'TATION
ITEM NO. 1 — Presentation of WE)C Budget Calendar and Preliminary Findings.
Staff reported that the following dates and associated goals have been developed for the FY 2008
— 2009 WEDC L.udget.
June 27, 2008 Preliminary budget presented to WEDC Board
July 18, 2008 Budget Approved by WEDC oard
August 5, 2008 WEDC Budget filed with City Secretary
August 12, 2008 WEDC Budget presented to Wylie City Council
Staff estimated that the FY 2007 — 2008 sales tax receipts will equal $1,239,554. The City of
Wylie Finance Department utilized an estimate of $1,300,000 for sales tax revenue for the FY
2008 — 2009 budget which is a 4.88% gain. Staff will develop a detailed expenditure analysis
prior to the June 27' WEDC Board eeting.
ITEM NO. 2 — Presentation of negotiations initiated at the International Council of
Shopping Centers Conference in Las Vegas, Nevada, May 17 — 21, 2008.
Staff reported on the International Council of Shopping Centers Conference which was attended
by Board embers Chris Seely, Mitch Herzog, Mayor Hogue, and Councilman Goss along with
staff. Mayor Ho ie conveyed that the conference was extremely productive in that the trip was
highly organized and the Wylie delegation was able to accomplish all goals identified prior to the
trip.
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June 2, 2008
Page 3 of 4
Specific groups met with were Burger King/Popeye's, In-n-Out Burger, Direct Development,
unt Properties, Regency Centers, Kohl's, The Buxton Group, KRC&L, Target, Grubb, & Ellis,
United Commercial Realty, the Murphy Economic Development Co , oration, and Expedition
Capital Partners.
No action was requested by staff for this item.
EXECUTIVE SESSION
The WE IC :oard of Directors convened ito Executive Session at 6:51 a.m.
I. Consider and Act Upon Issues Surrounding a Performance Agreement Between the WEDC
and T.W. Snider and Associates as authorized in Section 551.087 (Economic Development
Negotiations) of the Local Gove, ,ment Code, Vernon's Texas Code Annotated (Open
Meetings Act).
II. Consider and Act Upon Issues Surrounding the Purchase of a 0.5 Acre Tract Within Wylie
Industrial Park, Block A, Lot 12 as Authorized in Section 551.072 (Real Property) of the
Local Government Code, Vernon's Texas Code Annotated (Open Meetings Act).
III. Consider and Act Upon Issues Surrounding Employment Terms of the WEDC
Administrative Assistant as Authorized in Section 551.074 (Personnel Matters) of the
Local Government Code, Vernon's Texas Code Annotated (Open Meetings Act).
RECONVENE INTO OPEN MEETT 'G
The WEDC Board of Directors reconvened into open session at 7:12 a.m.
Actions taken from Executive Session:
I. Staff presented, for review, an executed Letter of Intent (LOI) between T.W. Snider &
Associates and the WEDC. Mr. Snider recently received approval for financing the project
which triggered the execution of a Performance Agreement. Staff requested that the Board
authorize the WEDC Executive Director to execute a Performance A,.'cement between the
WEDC and Snider as long as the terms of the Agreement did not vary from those terms
identified in the LOI.
MOTION: A motion was made by Chris Seely and seconded by itch Herzog
to authorize the WE DC Executive 'Director to execute a Performance
Agreement betwee,,, the WEDC and T.W. Snider & Associates. The
Board voted 4— FOR a,,,d 0 — AGA ST in favor of the motion.
Ho further action was taken as a result of discussions held i Executive Session.
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June 2, 2008
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A JOU ME T
With no further business, resident Marvin uller adjourned the WEDC Board meeting at 7:13
a.m.
ilarvin Fuller, President
ATTEST:
Samuel D,H .. Satterwhite
Executive Director