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02-24-2017 (WEDC) Agenda Packet NOTICE OF MEETING
Wylie Economic DevePORloA T I O pmentN
Regular Meeting Agenda
February 24, 2017—6:30 A.M.
WEDC Offices—Conference Room
250 South Highway 78 —Wylie, Texas
Marvin Fuller W„...., ,.....,.. .,,..»... »..,,.».» .,.,,»,,. .»,...... . ...... President
John Yeager ........ . ........ . ........ ..».,...» ...,,.».. ...».»... .......,, .,...... » ......Secretary
Demond Dawkins_ ........ ......... ..».,,.., .......,. »,.».»... .....».,, Treasurer
Bryan Brokaw Board Member
Mayor Eric Hogue Ex-Officio Member
Mindy Manson,City Manager Ex-Officio Member
Samuel Satterwhite ......... .. ....... ......... ......... .Executive Director
Jason Greiner......» ......... ......... Assistant Director
Angel Wygant...... Senior Assistant
In accordance with Section 551.042 of the Texas Government Code, this agenda has been posted at the Wylie
Municipal Complex, distributed to the appropriate news media, and posted on the City Website:
www. lietexas.gov within the required time frame.
CALL TO ORDER
Announce the presence of a Quorum.
CITIZEN PARTICIPATION
Residents may address the WEDC Board regarding an item that is or is not listed on the agenda. Residents must
provide their name and address. The WEDC Board requests that comments be limited to three (3) minutes. In
addition, the WEDC Board is not allowed to converse, deliberate or take action on any matter presented during
citizen participation.
ACTION ITEMS
I. Consider and act upon approval of the February 10, 2017 Minutes of the Wylie Economic
Development Corporation(WEDC)Board of Directors Meeting.
II. Consider and act upon approval of the January 2017 WEDC Treasurer's Report.
III. (Remove from Table) Consider and act upon issues surrounding the construction of
parking improvements on WEDC property located at 111 N. Ballard.
IV. Consider and act upon approval of a Performance Agreement between WEDC and SAF-
Holland USA.
V. Consider and act upon issues surrounding an Agreement between the WEDC and The
Retail Coach, LLC for consulting services.
VI. Consider and act upon issues surrounding a Performance Agreement between the WEDC
and All State Fire Equipment, Inc.
WEDC—Agenda
February 24, 2017
Page 2 of 3
VII. Consider and act upon the awarding of a bid to Texas Dirt Contractors for the completion
of Sellers Work as identified in the Purchase and Sale Agreement by and Between Wylie
Economic Development Corporation and Chick-Fil-A, Inc.
VIII. Consider and act upon the ratification and approval of a Real Estate Sales Contract between
Patsy Jo McMillan, Margaret McMillan, and the WEDC.
DISCUSSION ITEMS
IX. Staff report: review issues surrounding WEDC Performance Agreement Summary,
Environmental Activity Summary, WEDC Financial Audit, Wylie Days, Collin County
Days, Highway 78 WEDC Pad Sites, Promotional Activities, and regional housing starts.
X. Discuss issues surrounding a proposed mixed use concept on WEDC property located on
Jackson Street between Oak and Marble.
EXECUTIVE, SESSION
Recess into Closed Session in compliance with Section 551.001, et.seq. Texas Government Code,
to wit:
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:
• Ballard& Stone
Section 551.087 (Economic Development) of the Local Government Code, Vernon's Texas
Code Annotated (Open Meetings Act)..
• Project 2015-12a
• Project 2016-10a
• Project 2017-la
• Project 2017-2a
Section 551.071. CONSULTATION WITH ATTORNEY; CLOSED MEETING. A
governmental body may not conduct a private consultation with its attorney except:
(1) when the government body seeks advice of its attorney about:
a. pending or contemplated litigation; or
b. a settlement offer, or
(2) of a matter in which the duty of the attorney to the governmental body under the Texas
Disciplinary Rules of Professional Conduct of the State Bar of Texas clearly conflicts with this
chapter.
WEDC—Agenda
February 24, 2017
Page 3 of 3
• Receipt of a complaint from Mark Winnubst and Latrice Andrews of
Sheils Winnubst, PC.
RECONVENE INTO OPEN MEETING
ADJOURNMENT
CERTIFICATION
I certln,that this Notice of Meeting was posted on this 20'day of February 2017 at 5:00 p.m. as required by law in
accordance with Section 551.042 of the Texas Government Code and that the appropriate news media was
contacted As a courtesy, this agenda is also posted on the City of Wylie website:www.wylietexas.gov.
Carole Ehrlich,City Secretary Date Notice Removed
Minutes
Wylie Economic Development Corporation
Board of Directors Meeting
Friday, February 10, 2017—6:30 A.M.
WEDC Offices—Conference Room
250 South Highway 78 —Wylie, Texas
CALL TO ORDER
Announce the presence of a Quorum
President Marvin Fuller called the meeting to order at 6:30 a.m. Board Members present were
John Yeager, Todd Wintters, Demond Dawkins and Bryan Brokaw.
Ex-officio member Mayor Eric Hogue and City Manager Mindy Manson were present.
WEDC staff present was Executive Director Sam Satterwhite, Assistant Director Jason Greiner
and Senior Assistant Angel Wygant.
CITIZEN PARTICIPATION
There being no citizen participation, President Fuller proceeded to Action Items.
ACTION ITEMS
ITEM NO. 1—Consider and act upon approval of the January 20,2017 Minutes of the Wylie
Economic Development Corporation (WEDC) Board of Directors Meeting.
Staff commented that a Board Member had inquired about the property address for the 111 N.
Ballard lot referenced in the Minutes. Staff informed the Board that the address is consistent with
the Collin County Central Appraisal District property listing but does not correlate with the
adjacent properties. To the north of the WEDC lot 103 Ballard (Boyd Recording Studio) and to
the south 105-A Ballard(Unique Optique). Board President Fuller requested that the record reflect
the physical location of the lot.
MOTION: A motion was made by Bryan Brokaw and seconded by
Todd Wintters to approve the January 20, 2017 Minutes of the Wylie
Economic Development Corporation. The WEDC Board voted 5 —FOR and
0—AGAINST in favor of the motion.
ITEM NO. 2 — Consider and act upon a Second Amendment to a Performance Agreement
between the WEDC And REVA Hospitality Wylie, LLC.
On January 9, 2017, the WEDC approved a First Amendment to the Performance Agreement
between REVA Hospitality Wylie,LLC(REVA)and the WEDC for the development of a Holiday
Inn Express & Suites. The First Amendment extended the date by which REVA would acquire
WEDC—Minutes
February 10, 2017
Page 2 of 4
the 2.4 acres necessary to develop the project to February 10, 2017. Staff explained that among
other recent changes to the project,REVA is going to miss the required closing date now scheduled
for February 13th
Additional changes have been presented to staff in this fast-paced project. The 98-room
development was only approved for 82 rooms by IHG (Holliday Inn Express & Suites parent
company). While construction cost has decreased by $1,280,000 ($80,000 per room), the
appraised value used in the WEDC cost-benefit analysis determining new property taxes generated
has not. In evaluating property taxes generated,the Appraisal District utilizes an income approach
which predominately utilizes sales data in combination with a market approach. Similar sized
projects in Allen ($4.3 mm), Frisco ($5.3 mm), and McKinney ($3.1 mm at 53,000 square feet)
were utilized for comparison. Staff utilized a $4,000,000 new tax value figure when calculating
taxes generated which remains a constant.
Based upon annual sales projections developed by IHG,$2,000,000 is still being utilized even with
16 less rooms. The taxable sales will determine the amount of hotel & motel occupancy tax
generated which is directly tied to infrastructure reimbursements. The only variation from the
original calculations is a reduction in thoroughfare impact fees of$11,520 based upon a per room
fee of$720. Based upon that change the breakeven point moves from 1.6 years to less than 1.7
years. Staff believes all other assumptions still hold true except for Real Property Improvements
now being$6,560,000 opposed to $7,840,000 which do not impact appraised value.
Even with the amount of time which has now been lost from when the project was originally
scheduled to close,REVA is not requesting an extension of the time required to receive a certificate
of occupancy which is December 31,2017. The maximum incentive of$450,000 will be reduced
to $350,000 should REVA finish the project after December 31st but before June 30, 2018 when
no incentive will be paid.
Staff recommended that the WEDC Board of Directors approve a Second Amendment to
Performance Agreement extending the date by which REVA Hospitality Wylie,LLC must acquire
title to property in Wylie to February 13, 2017 and further amending the number of rooms
referenced in the RECITALS to 82 and project cost to $7.92 mm.
President Fuller requested that, although the sales projections for the project remain unchanged,
he would like for staff to update the internal working documents detailing the projections and
economic impact of the project to reflect the updated figures reflected in the Second Amendment.
Board Member Wintters suggested modifying the date by which REVA Hospitality Wylie, LLC
must acquire title to property in Wylie to March 1, 2017 instead of February 13, 2017 to ensure
that ample time is given to accommodate any further delays.
MOTION: A motion was made by Todd Wintters and seconded by
John Yeager to approve the Second Amendment to a Performance Agreement
between WEDC and REVA Hospitality Wylie, LLC extending the date by
which REVA Hospitality Wylie, LLC must acquire title to property in Wylie
WEDC—Minutes
February 10, 2017
Page 3 of 4
to March 1, 2017 and further amending the number of rooms referenced in
the RECITALS to 82 and project costs to$7.92 mm. The WEDC Board voted
5 —FOR and 0—AGAINST in favor of the motion.
President Fuller recessed the meeting at 6:46 a.m. for a 10-minute break to allow for the arrival of
Ryan Pittman, Attorney with Abernathy,Roeder, Boyd &Hullett, PC—Attorneys at Law.
The WEDC Board of Directors reconvened into open session at 6:56 a.m. Mr. Pittman had not
yet arrived. Mayor Hogue informed the Board that a State of the City luncheon was being held on
February 28, 2017 at 11:30 a.m. at the First Baptist Events Center and encouraged the Board to
attend if they were available. President Fuller called for an additional 5-minute recess at 6:59 a.m.
At 7:04 a.m. the WEDC Board of Directors reconvened into open session. President Fuller called
the meeting to order and welcomed Ryan Pittman, Attorney with Abernathy, Roeder, Boyd &
Hullett, PC—Attorneys at Law.
EXECUTIVE 'SESSION
Recessed into Closed Session at 7:05 a.m. in compliance with Section 551.001, et.seq. Texas
Government Code, to wit:
Section 551.071 (Consultation w/Attorney)of the Local Government Code,Vernon's Texas Code
Annotated (Open Meetings Act). A governmental body may not conduct a private consultation
with its attorney except:
(1) When the government body seeks advice of its attorney about:
(1) pending or contemplated litigation; or
(2) a settlement offer, or
(2) of a matter in which the duty of the attorney to the governmental body under the Texas
Disciplinary Rules of Professional Conduct of the State Bar of Texas clearly conflicts with
this chapter.
• Receipt of a complaint from Mark Winnubst and Latrice Andrews of Sheils
Winnubst, PC.
RECONVENE INTO OPEN MEETING
The WEDC Board of Directors reconvened into open session at 8:06 a.m. and took no action,
ADJOURNMENT
With no further business, President Fuller adjourned the WEDC Board meeting at 8:06 a.m.
WEDC—Minutes
February 10, 2017
Page 4 of 4
Marvin Fuller, President
ATTEST:
Samuel Satterwhite,Director
Wylie Economic Development Corporation
MEMORANDUM
TO: Samuel Satterwhite, Executive Director
FROM: Angel Wygant, Senior Assistant
SUBJECT: January 2017 Treasurer's Report
DATE: February 13, 2017
Issue
Consider and act upon approval of the January 2017 WEDC Treasurer's Report.
Analysis
Included this month is a Statement of Net Position. This document is intended to summarize
the Assets and Liabilities of the WEDC. Finance felt this might be helpful to the WEDC Board
as a high-level financial summary.
From the Balance Sheet,page 1:
Deposits - $7,000. This amount reflects a deposit WEDC paid to Wylie Industrial Court for the
current location of the WEDC office in the amount of$2,000 and a $5,000 Escrow Deposit for
the purchase of the McMillan Property located at 105 N. Jackson Street.
Loan Receivable - $60,393.97. This represents the balance of the Wylie Ice Cream Holdings
note, which is reduced by the principal paid each month. There was a starting balance of$93,950
as of December 2012. Wylie Ice Cream Holdings has 35 payments remaining with a balloon
payment of$33,248.44 due on 12-15-19.
Account Rec — Forgivable Loans - $441,666.66. This figure includes the remaining balance of
The Wedge loan in the amount of$91,666.66. Assuming The Wedge remains in compliance
with their Performance Agreement, forgiveness of the remaining loan balance will be made on
12/31/18. The figure above also includes the loan made to Exco Extrusion Dies in the amount of
$350,000. Assuming Exco remains in compliance with the terms of the Performance Agreement,
this loan will be forgiven in 5 equal amounts of$70,000 beginning on February 24, 2017 and on
an annual basis thereafter.
Deferred Outflows - $456,500. This is a total of incentive payments which are due in the future.
A breakdown of these charges includes: Ascend Extrusion—Phase II- $24,000, B & B Theatres -
WEDC January 2017 Treasurer's Report
February 13, 2017
Page 2 of 3
$50,000, Dank Real Estate - $7,500, GetSet - $20,000, All State Fire - $40,000, Von Runnen
Holdings - $10,000, Exco Extrusion Dies — $60,000, KREA - $100,000, McClure Partners -
$50,000, VIAA - $20,000, Patna Properties - $10,000, Freudiger Holdings - $30,000, and ACG
Texas - $35,000.
From the Balance Sheet,page 2:
Deferred Inflow - $255,393.97. The Deferred Inflow Account tracks loans receivable from
Wylie Ice Cream Holdings and Exco Extrusion Dies. The Wylie Ice Cream loan receivable is
reduced by the monthly principal payment which for January was $741.76. The Exco Extrusion
Dies loan will be reduced by$70,000 annually over a 5-year period.
Rental Deposits — $6,000. Security deposits associated with lease obligations assigned to the
WEDC as part of the purchase of 900 -908 Kirby for 2 tenants: DCU ($,3000) and Auto Hail
($3,000).
Revenue and Expense Report,page 2:
Interest Earnings - $254.73. Interest earnings from the Wylie Ice Cream Holdings
Loan Repayment - $741.76. Principal payment from the Wylie Ice Cream Holdings.
Rental Income — $13,500. Dallas Whirlpools - $3,400, DCU - $3,400, Delta-E - $800, Wheels
Unlimited- $1,400,Austin-Said- $4,000, Richmond Hydromulch- $500.
Revenue and Expense Report,page 3:
Office Supplies - $86.42. General Office Supplies—($61.50), Holiday Office Plant($24.92).
Food Supplies - $90.82. WEDC Board Mtg. Meal—December.
Incentives - $197,414.41. Von Runnen 2 of 3 ($10,000), B&B 4 of 6 ($25,000), B&B Sales Tax
Annual Reimb. ($22,272.20), CSD Qrtly Sales Tax Reimb. ($28,475.54), Exco 1 of 4 ($20,000),
Wedge Loan Forgiveness ($91,666.67).
Special Services — $8,276.97. Combined Survey Ind. Ct. ($2,000), Traffic Counts — Downtown
($600), Mowing and Lot clean-up ($325), Key—900 Kirby($1.97), Flood Plain Study FM 544 &
Hwy 78 ($4,500), Asbestos Inspection—900 Kirby ($850).
Community Development- $5,065.12. WISD Ed. Foundation Gala ($1,000), Holiday Promotion
($65.12), CCIM Sponsorship ($1,500), Collin College - Stetson& Stiletto Sponsorship ($2,500).
Travel & Training - $1,898.89. ICSC Reg. — Satterwhite, Hogue, Greiner ($1,710), Business
Mtgs/Prospect Recruitment($157.86), Project Updates ($31.03).
WEDC January 2017 Treasurer's Report
February 13, 2017
Page 3 of 3
Dues & Subscriptions - $712.86. WDMA Annual Dues ($75), Club Corp Dues — December
($637.86).
Engineering&Architectural - $1,287.00. Engineering Services—544 Addition.
Recommendation
Staff recommends that the WEDC Board of Directors approve the January 2017 Treasurer's
Report.
Attachments
January 2017 Treasurer's Report
Sales Tax Revenue
Wylie Economic Development Corporation
Statement of Net Position
As of January 31, 2017
Assets
Cash and cash equivalents $ 1,055,928.16
Receivables $ 502,060.63 Note 1
Inventories $ 8,913,591.72
Prepaid Items $
Total Assets $ 10,471,580.51
Deferred Outflows of Resources
Pensions $ 66,481.55
Total deferred outflows of resources $ 66,481.55
Liabilities
Accounts Payable and other current liabilities $ 110,161.58
Unearned Revenue $ 261,393.97 Note 2
Non current liabilities:
Due within one year $ 2,007,873.37 Note 3
Due in more than one year $ 3,994,227.42
Total Liabilities $ 6,373,656.34
Deferred Inflows of Resources
Pensions $ 2,839.41
Total deferred inflows of resources $ 2,839.41
Net Position
Net investment in capital assets $
Unrestricted $ 4,161,566.31
Total Net Position $ 4,161,566.31
Note 1: Includes incentives in the form of forgivable loans for$441,666.66
Note 2: Wylie Ice Cream loan payments;Exco amortization; deposits from rental property
Note 3: Liabilities due within one year includes compensated absences of$57,489.00
Note 4: The WEDC provides monetary incentives to companies to relocate/expand within
the City of Wylie. At January 31, 2017, these commitments totaled$466,500.00.
N
2-14-2017 02:.00 PM CITY OF WYLIE PAGE: 1
BALANCE SHEET
AS 017:( JANUARY 31ST, 2019'
111-WYLIE ECONOMIC DEVEL CORP
ACCOUNTI: III1E
ASSEIS
1000-4 0110: C LAI M 0 N CASB: & CASK. EO 04 V I,048,920„1.6
1000-4011 S CASH - WE:0C - I NWOO D 0.00
1000-10135 ESCROW 0,00
1010.-10180 DE POS1 TS 7,000.00
1040-401111 OTHER - M1SE CLEARING( 0.00
1000,10341 TEXPOOL. (1.00
1000-10343 LOGIC 0.00
1000-1.0481 INTEREST RECEIVABLE 0.00
1000-I1.511 ACCrS REC - MINI) 0„00
100(1-11517 ACCTS NEC - SALES TAX 0.00
1000-12010 LEASE. PAYMENTS RECEIVABLE 0„00
1001-12950 LOAN PROCEEDS RECEIVABLE 0.00
1010-12996 LOAN RECEIVABLE, 61,391.97
10011-421111" ACEIS EEC - JTM TECH G.00
1000-42918 ACCTS NEC -. FORGIVEABLE LOANS: 441,066.66
1000-14112 INVENTORY - MATERIAL/ SUPPLY 0.00
1000-14116 TNVENIORY - LAND. t BUILDINGS 0,913,591,12
1000-14111.8 INVENTORY - RA/CO/ SANDEN BLVD 0,00,
1000,14311 PREPAID EXPENSES - HISC 0.00
1000-14410 DEFERRED OUTFLOWS 456,500.01
10,928,080-51.
TOTAL ASSETS 10,928,090.51
LIABILITIES.
2000-20110 FEDERAL 1NtOME TAX PAYABLE 0.00
2000-20111 MEtaCARE, PAYABLE 0.00
2000-20112 CHILD' SUPPORT PAYABLE 0.00
2000-20113 CREDIT' UNION: PAYABLE 0.00
2000-20114 IRS LEVY PAT/ IL)) 0,00
2000-20115 NATIONWIDE DEFERRED 'COMP 0,00
2000-2011.6 HEALTH I)IiiUR PAY-EMPLOYEE ( 0,00
2000,20117 TMNS PAYABLE 0.00
2001-20118 'KID IRA PAYADDE 0.00
2000-20119 WORF,ERS' COMP PAYABLE. 0.0(1
2.011-20120 FICA PAYABLE. 0.00
20002.0121 TEC PAYABLE 0,00:
2000-2012.2 STUDENT LOAN LEVY PAYABLE 0.00
2000-20123 ALIMONY PAY/OIL)) 0.00
2.000-2012.4 BANKRUPTCY PAYABLE 0.00
2000-2.01125 VALIC DEFERRED COMP 0.00
2000-120126 ICHA RATABLE 0...00
2000-E:01N:1 EINP.. LEGAL SERVICES PAYABLE. 0-00,
2000-20130 FLEXIBLE' SPENDING'. ACCOUNT 125,00
2000-20131. EDWARD iONES DEFERRED COME 0.00
2000-20132 ((MR CARE ELITE 12,01
2000-20151 ACCRUED WAGES PAYABLE 000:
2000-20180 ADDLE EMPLOYEE OIL PAY 0.00
2000-20199 MISC PAYROLL PAYABLE 0,00
2-14-2017 0200 PM CITY OF WYLIE PAGET 2
BALANCE SHEET
AS OF JANUARY ”ST, 2017
III-MYLIF ECONOMIC DEVEL CORP
ACCOONTk TITLE
2000-20201 AP PENDING
2000-20210 ACCOUNTS PAYABLE 105,265.73
2000-20530 PROPERTY TAXES PAYABLE 0.00
2000-20540 OIRS PAYABLE 4S6,500.00
2000-208.10 DUE TO GENERAL FUND 0,00
2000-22210 DEFERRED 11.[FLOW 255,393.97
2000-22215 REV INFLOW - LEASE PRINCIPAL 0:00
2000-22280 DEFERRED INFLOW - LEASE INT 0.00
2000-22915 RENTAL DEPOSITS 6,000.00
TOTAL LIABILITIES 820,055,55
EQUITY
3000-34110 FUND BALANCE - RESERVED 0.00
1000-34590 FUND BALANCE-UNRESERV/UNDESIO 8,229,35746
TOTAL BEGINNING EQUITY 8,229,1,5746
TOTAL REVENUE 2,729:369.72
TOTAL EXPENSES 858,702„22
REVENUE OVER/(UNDER), EXPENSES 1,870,667.SG
TOTAL EQUITY & OVER! UNDER 10,100,024.96
TOTAL LIABILITIES, EQUITY & OVER/(UNDER1 10,928,0RO:51
2-14-201 7 027 08. Pm CITY Or WYLIE. PAGE I
BALANCE 8(1E87
AS. 05'3. JANUARY 3IS2, 2012.
922-G8N LONG T 8.Rm DEBT ( R DC1
ACCOuNT I) TITLE
ASSSTS
1000.-10312 GovE RN mEN7 ((((TEE 0.00
1000-1811 0 LoAN - WE DC 0,00
1000-18120 LOAN - BIRmINGAAM 0.00
1000-1 8210 AmoUNT To 88 PBovIDEt 0 00
1000-4 8220 a/AN I N.G.HAM LOAN 0.00
1001-A.90.50, DE F OuTELOW - CONTEI BUIL DNS 27,922.29
I000-1 901 5. DE F au T8LOw - INVESTMENT Em p 34,333.48,
1000-19100 DEE OUTFLOW. - Ae7 F.MT,/A.SZNMP 4,225.78,
1000-I 9125, GA(N)/Loss o N As s.NM.ET ION Gni;( 2,838.41)
.....................________.
6.3„642,,14
TOTAL A s,$ET s 03,642.14.
...........,—.....„----
LI ABI LI T I ES.
2000-20310 com PEN s ATE b 91111211, PAYABLE 84,693.61
2000-1 01))11 COMB AB s ENCE s PAY ABL E.-C URRE.N1 0.00
2 0 0 0-2 1410 ACCRUED I NT ERES7 PAYABLE 4,630.85
2000-48205 WEDC LOANsir:LIB:RENT 1,9.4 S.,753.52.
2000-28220 BIRMINGHAM LOAN 0,00,
2000-28230 INWOOD LOAN 0.00,
2000-28232 ANT) LoANI EDGE 0,,00
2000-28233 ANB LOAN/BED DI HORD NM I T 8 552,873.,05
2000-28234 AN B LOAN/RANDAcK NUGuEs 20,895.75,
2000-.28235 AN LoAN 0.00
2001-282,"36 AN B cONS T FaC71 ON LOAN 0.00
2000-28231' ANB LOAN/ wooDBIU DGE. pAtEmAY 54.8,201,00
2000-28238 ARB LOAN./BUYA ANAN. 162,440.60
2000-2 8230 ANS' LoA1414018Es:HOBART pAyOFF 193,893.,„04
2000-28240 mo GB Es LOAN, 0,00
2000-2 82A 5 ANR LOAN/DA L LA R W MIR L pool'. 2 0 000,000.00
2.000-282A 7. JAB)P,ARD LOAN 300,000.00
2000-.282.50 el Ty (31 WY LI E LoAN. 0.00.
2001-28260 PRIME RUT N LOAN 0.00
2000-282,71 BOW LAN D/AN OERSON LOAN 0.00
2.0 0 0-:,:„82.80 CA PI TA1, 0210 C AZAD LOAN 0 J')0
2000-28290 BoBA R7 1 commERcE LOAN 0,00
2000-2 91.50 NET PEN s IoN LIABILITY 188,812.17'
TOTAL 7,r Anl LI T1 Es 6,002,100_79
..........„..........................____............„.............„.
EO(1l T.I.
-----
3000-34°,580 PUN) BALANCE-u NW::BERml UN DE,S4 G( 1,1.36,02 8.50)
3000-15900 uNRESTRICTED NET pas,1 T I ov ( 114,869.00)
TOT A) BEGINNING ROITT7y ( 3,850,988.501
TOTAL REVENUE. ( 2,300,000..(10)
ToTAL 'EXPENSES ( 212,539.85).
2-11-2017 0208 PM CITY OF WYLIE PAGE 2
BALANCE SHEET
Al 017 JANUARY 31ST, 2017
922-GEN LONG TERM DEBT (WEDC)
ACCOUNT)) TITLE
REVENUE OVER/(UNDER) EXPENSES ( 2,087,460.15)
TOTAL EQUITY I OVER/(UNDER) ( 5,938,458.65)
TOTAL LIABILITIES, EQUITY & OVER/(UNDER) 63,642.14
2-15-204 1 0 2,:.,08 PM CITY OF WYLIE RAGE: 1
REVENUE AND EXPENSE REPORT' - (ONAUDI TED)
AS OF'. TANVARY 3157, 2017
k 11-WYLIE ECONOMIC DEVEL CORP
FINANCIAL SUMMARY
CURRENT CURRENT PRIOR YEAR Y-T-D Y-T-0 BUDG'ET ih OE
BU WET PER OD PO ADJUST, ACTUAL ENCVMRR ANC E BALANCE BUDGET
REVENUE SUMMARY
TAXES 2,467,295,00 1'96,347,26 0.00 04,155,05 0.00, 2,073,139.95 15„98
INTERWVERNMENTAL REV, 0.00 0,00 0.00 0,00 0,00 0,00 0,00
INTEREST INCOME 12,95A.00 1,220.21 0„00 7,208„03 0.00 5,749.97 55,63
MISCELLANEOUS INCOME 1,5'38,)58.00 14,,SOO.00 0,00 28,006.64 0.00 I,510,351.36 1.82
OTHER FINANCING SOURCES 0,00 0„00 0,00 2,300,000.00 0.,00 f 2,300,000„00) 9,00
TOTAL REVENUES 4,01 8,611,00 213,,067,4T 0.00 2,729,369.12 0,00 1,289,241,28 67.92
EXPENDITURE SUMMARY
DEVELOPMENT CORP-WEDC 4,484,297.00 321,911„/6 0„00 858,002.22 6,9810.00 I,,61R,614.70 19.80
TOTAL EXPENDITURES 4,484,297.00 321,911„76 0.00 858,702.22 6,980.00 3,618,61 4,"18 19.30
REVENUE OVE111(UNDER) EXPENDITURES I 465,686,,00) ( 110,844.297 0,00 1,870,667.50 ( 6,9(70„00) ( 2,"3,29,3")1.S0) 400.20-
2-15-2017 0208 PM CITY OF WYLIE PAGE: 2
REVENUE AND EXPENSE REPORT - (UNAUDITED)
AS OF: JANUARY 31ST, 2017
Ill-WYLIE ECONOMIC DOWEL CORP
REVENUES
CURRENT CURRENT PRIOR YEAR Y-T-D Y-T-D BUDGET % OF
BUDGET PERIOD PO ADJUST, ACTUAL ENCUMBRANCE BALANCE BUDGET
TAXES
. .....-
4000-40150 REV IN LEIU OF TAXES 0.00 0.00 0.00 0.00 0.00 0.00 0,00
4000-40210 SALES TAX 2,467,295.00 196,347.26 0.00 394,155,05 0.00 2,073,139.95 15.98
TOTAL TAXES 2,467,295.00 196,347.26 0.00 394,155.05 0.00 2,033,139.95 15.98
INTERGOVERNMENTAL REV.
4000-43518 380 ECONOMIC AGREEMENTS 0.00 0.00 0.00 0.00 0.00 0.00 0.00
TOTAL INTERGOVERNMENTAL REV. 0.00 0.00 0.00 0.00 0.00 0.00 0.00
INTEREST INCOME
4000-46050 CERTIFICATE OF DEPOSIT 0.00 0.00 0.00 0.00 0.00 0.00 0.00
4000-46110 ALLOCATED INTEREST EARNINGS 1,000.00 223.72 0.00 1,030.27 0.00 f 30.27) 103.03
4000-46140 TEXPOOL INTEREST 0.00 0.00 0,00 0.00 0.00 0.00 0.00
4000-46143 LOGIC INTEREST 0.00 0.00 (1,00 0.00 0.00 0.00 0,00
4000-46150 INTEREST EARNINGS 2,962.85 254.73 0,00 3,229.15 0.00 ( 266.30) 106.99
4000-46160 LOAN REPAYMENT (PRINCIPAL) 8,995.15 741.76 0.00 2,948.61 0.00 6,046.54 32.78
4000-46210 BANK MONEY MARKET INTEREST 0.00 0 00. 0.00 0.00 0.00 0.00 0.00
TOTAL INTEREST INCOME 12,958.00 1,220.21 0.00 7,2.08.03 0.00 5,749.97 55.63
MISCELLANEOUS INCOME
4000-48110 RENTAL INCOME 72,600.00 13,500.00 0.00 28,006.64 0.00 44,593.36 38.58
4000-48310 RECOVERY - PRIOR YEAR EXPEN 0.00 0.00 0.00 0.00 0.00 0.00 0.00
4000-48410 MISCELLANEOUS INCOME 115,758.00 0.00 0.00 0.00 0.00 115,758.00 0.00
4000-48430 GAIN/(LOSS) SALE OF CAP ASS 1,350,000.00 0.00 0.00 0.00 0.00 1,350,000.00 , 0.00
TOTAL MISCELLANEOUS INCOME 1,538,358.00 13,500.00 0.00 28,006.64 0.00 1,510,351.36 1.62
OTHER FINANCING SOURCES
4000-49160 TRANSFER FROM GENERAL FUND 0.00 0.00 0.00 0.00 0.00 0.00 0.00
4000-49325 BANK NOTE PROCEEDS 0.00 0.00 0,00 2,300,000.00 0.00 ( 2,300,000.00) 0.00
4000-49550 LEASE PRINCIPAL PAYMENTS (0 0.00 0.00 0.00 (LOU 0.00 0.00 0.00
4000-49600 INSURANCE RECOVERIES 0.00 0.00 0.00 0.00 0.00 (LOU (LOU
TOTAL OTHER FINANCING SOURCES (LOU 0.00 0.00 2,300,000.00 0.00 ( 2,300,000.00) 0.00
TOTAL REVENUES 4,018,611.00 211,067.47 0.00 2,729,369.72 (LOU 1,289,241.28 67.92
2-15-2017 02:08 PM CITY OF WYLIE PAGE: 3
REVENUE AND EXPENSE REPORT' - (UNAUDITED)
AS OF: JANUARY 3IST, 2017
111-WYLIE ECONOMIC DEVEL CORP
DEVELOPMENT CORP-WEDC
DEPARTMENTAL EXPENDITURES
CURRENT CURRENT PRIOR YEAR Y-T-D BUDGET 6 OF
BUDGET PERIOD PO ADJUST. ACTUAL ENCUMBRANCE BALANCE BUDGET
PERSONNEL SERVICES
5611-51110 SALARIES 267,575.00 20,583.72 0,00 87,731.53 0.00. 179,843.47 32.79
5611-51130 OVERTIME 0.00 0.00 0.00 0.00 0,00 0,00 0.00
5611 51140 LONGEVITY ['Al 1,168.00 0.00 0,00 1,168.00 0,00 0.00 100,00
5611-51145 SICK LEAVE BUYBACK 0.00 0.00 0,00 0.00 0,00 0.00 0.00
5611-51160 CERTIFICATION INCENTIVE 0.00 0.00 0.00 0.00 0.00 0,00 0.00
5611-51170 PARAMEDIC INCENTIVE 0.00 0.00 0.00 0.00 0.00 0,00 0.00
5611-51210 CAR ALLOWANCE 1.2,600.00 969.26 0,00 3,709.40 0,00 8,890.60 29.44
561i 51220 PHONE ALLOWANCE 4,656.00 1,164.00 0,00 2,328.00 0,00 2,328.00 50.00
5611-51230 CLOTHING ALLOWANCE 0.00 0.00 0,00 0.00 0.00 0.00 0.00
5611-51260 MOVING ALLOWANCE 0.00 0.00 0.00 0.00 0.00 0.00 0.00
5611-51310 TMRS 42,427.00 3,250.20 0,00 13,644.15 0.00 28,782.85 32.16
5611 -51410 HOSPITAL 6 LIFE INSURANCE 32,521.00 2,846.32 0,00 11,150.00 0,00, 21,371.00 34.29
5611-51415 EXECUTIVE HEALTH PLAN 0.00 0.00 0.00 0.00 0,00 0.00 0.00
5611 .5142.0 LONG-TERM DISABILITY 1,471.00 154.02 0,00 385.05 0,00 1,085.95 26.18
5611-51440 FICA 17,443.00 1,278.10 0,00 2,998.65 0,00 14,444.35 17.19
5611-51.450 MEDICARE 4,079.00 298.90 0.00 1,302.82 0.00 2,776.18 31.94
5611-51470 WORKERS COMP PREMIUM 716.00 81.20 0,00 495.36 0,00 220.64 69.18
5611-51480 UNEMPLOYMENT COMP (TWC) 810.00 0.00 0.00 0.00 0,00 81(1.00 0.00
TOTAL PERSONNEL SERVICES 385,466.00 30,625.72 0.00 124,912.96 0.00 260,553,04 32,41
SPPEIS
. 611.-52010 OFFICE SUPPLIES 5,500.00 86.42 0.00 311.86 0.00 5,188.14 5.67
5611-52040 POSTAGE 6 FREIGHT 9E30.00 0.00 0.00 9.40 0.00 970,60 0.96
5611-521(0 TOOLS/ EQUIP (NON-CAPITAL) 0.00 0.00 0,00 0.00 0,00 0.00 0.00
5611-52810 ROOD SUPPLIES 2,250.00 90.82 0,00 183.88 0,00 2,066,12 8,17
5611-.52090 OTHER 5,000.00 0.00 0.00 0.00 0.00 5,000.00 0.00
. ,....__.._...
TOTAL SUPPLIES 13,730.00 177.24 0.00 505.14 0.00 13,224.86 3.68
MATERIALS FOR MAINTENANC
5611-54630 TOOLS & EQUIPMENT 0.00 0.00 0.00 0.00 0.00 0.00 MO
5611-54810 COMPUTER HARD/SOFTWARE 3,000,00 0.00 0.00 187.50 0.00 2,812.50 6.25
5611-54990 OTHER 0.00 0.00 0.00 0.00 0.00 0.00 0.00
TOTAL MATERIALS FOR MAINTENANC 3,000.00 0.00 0.00 187.50 0.00 2,812.50 6.25
CONTRACTUAL SERVICES
5611-56030 INCENTIVES 1,175,281.00 197,414.41 0.00 346,673.96 0.00 828,607.04 29,50
5611-56040 SPECIAL SERVICES 127,600.00 8,276,97 0.00 52,321.12 560.50 74,718.38 41.44
5611-56080 ADVERTISING 144,700.00 0.00 0.00 6,721.00 1,800.00 136,179.00 5.99
5611-56090 COMMUNITY DEVELOPMENT 52,000.00 5,065,12 0.00 8,603.36 80.00 43,316.64 16.70
5611-56110 COMMUNICATIONS 9,350.00 478.86 0.00 1,808.40 0.00 7,541.60 19.34
5611-56180 RENTAL 29,328.00 2,444.00 0.00 12,026.00 0.00 17,302.00 41.01
5611-56210 TRAVEL 6 TRAINING 36,000.00 1,898.89 0.00 5,481.05 0.00 30,518.95 15.23
5611-56250 DUES & SUBSCRIPTIONS 19,560.00 712.86 0.00 5,091.58 0.00 14,468.42 26.03
5611-56310 INSURANCE 4,310.00 0.00 0.00 2,898.10 0.00 1,411,90 67.24
5611-56510 AUDIT I LEGAL SERVICES 23,000.00 0.00 0.00 8,800.00 4,539.50 9,660.50 58.00
5611-56570 ENGINEERING/ARCHITECTURAL 20,000.00 1,287.00 0.00 9,874.30 0.00 10,125.70 49.37
5611-56610 UTILITIES-ELECTRIC 2,400.00 145.26 0.00 555.48 0.00 1,844.52 23.15
TOTAL CONTRACTUAL SERVICES 1,643,529.00 217,723.37 0.00 460,854.35 6,980.00 1,175,694.65 28.47
2-15-2017 02:08 PM CITY OF WYLIE PAGE: 4
REVENUE AND EXPENSE REPORT (UNAUDITED)
AS OF JANUARY 31ST, 2017
111-WYLIE ECONOMIC DES/EL CORP
DEVELOPMENT CORP-WEDC
DEPARTMENTAL, EXPENDITURES
CURRENT CURRENT PRIOR YEAR Y-T-D BUDGET % OF
BUDGET PERIOD PO ADJUST., ACTUAL ENCUMBRANCE BALANCE MJDGET
DEBT SERVICE & CAP. REPL
5611-57110 DEBT SERVICE 1,910,906.00 0.00 0,00 0.00 0.00 1,910,906.00 0.00
5611 57410 PRINCIPAL PAYMENT 0.00 54,747.11 0.00 212,539.85 0.00 ( 212,539.85) 0.00
5611-57415 INTEREST EXPENSE 0.00 19,145.32 0,00 59,702.42 0.00 ( 59,102.42) 0.00
5611-57710 BAD DEBT EXPENSE 0.00 0.00 0.00 0.00 0.00 0.00 0.00
TOTAL DEBT SERVICE & CAP. REEL 1,910,906.00 73,892.43 0.00 272,242.27 0.00 1,638,663.73 14.25
CAPITAL OUTLAY
5611-58110 LAND PURCHASE PRICE 128,866.00 ( 501.00) a.00 2,482,573.30 0.00 ( 2,353,707.30) 926.48
5611-59120 DEVELOPMENT FEES 0.00 0.00 0,00 0.00 0.00 0.00 0.00
5611 5815a LAND-BETTERMENTS 0.00 0.00 0,00 0.00 0,00 0,00 0.00
5611-S8210 STREETS & ALLEYS 391,300,00 0.00 0,00 0.00 0,00 391,300,00 0.00
5611 -58410 SANITARY SEWER 0,00 0.00 0,00 0.00 0,00 0.00 0.00
5611-58810 COMPUTER HARD/SOFTWARE 5,000.00 0.00 0,00 0.00 0.00 5,000.00 0.00
5611 -58830 FURNITURE & FIXTURES 2,500.00 0.00 0.00 0.00 0,00 2,500,00 0.00
5611-58910 BUILDINGS 0.00 0.00 0,00 0.00 0.00 0.00 0.00
5611 58995 CONTRA CAPITAL OUTLAY 0,00 0.00 0.00 ( 2,482,573.30) 0.00 2,4820573.30 0.00
TOTAL CAPITAL OUTLAY 527,666.00 ( 507.00) 0.00 0.00 0.00 527,666.00 0.00
OTHER FINANCING (USES)
5611-.59111 TRANSFER TO GENERAL FUND 0,00 0.00 0.00 0.00 0.00 0.00 0,00
561 I-50190 TRANSFER TO THORUGHFARE IMP 0,00 0.00 0.00 0.00 0.00 0.00 0,00
5611 -59430 TRANSFER TO CAPITAL PRO,.) I'll 0,00 0.00 0.00 0.00 0.00 0,00 0.00
5611-59990 PROJECT ACCOUNTING 0,00 0.00 0.00 0.00 0.00 0,00 0.00
TOTAL OTHER FINANCING (USES) 0.00 0.00 0.00 0.00 0.00 0.00 0.00
TOTAL DEVELOPMENT CORP-WED(' 4,484,291.00 321,911./6 0.00 858,102.22 6,980.00 3,618,614.78 19.30
TOTAL EXPENDITURES 4,484,297.00 321,911.76 0.00 858,702.22 6,980.00 3,618,614.18 19.30
REVENUE OVER (UNDER) EXPENDITURES ( 465,686.00) ( 1)0,844.29) 0.00 1,870,667.50 ( 6,980.00) ( 2,329,373.50) 400.20-
“."- END OE REPORT *,*
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2-15-2017 1. 4.6 PM DETAIL LISTING PAGE: 2
FUND 1.11.-WYITE ECONOMIC DEVEL CORP PERIOD TO USE Jan-201.7 THRU Jan-2017
DEFT 61.1 DEVELOPMENT CORP-WEDC ACCOUNTS 5E11-52010 THRU 5611-58910
POST DATE IRAN 4 REFERENCE FACKET------DESCRIPTION------- VEND INV/CIE 3 NOTE
5611-56030 INCENTIVES
BEGINNING BALANCE 149,259.55
1/03/17 1/03 A76077 CR14:: 086651 87052 VON R1INNEN INCEN 2 OF 3 004500 INCENTIVE 42 10,000,00 159,259.55
1/08/1/ 6/09 1376610 CHIC: 086808 87221 B&B INCENTIVE 4 OF 6 003925 INCENTIVE 44 25,000.00 184,259.55
1/09/17 1/09 A76610 CHK: 086808 87221 B&B INC 4/600S TAY 003925 INCENTIVE #4 22,272.20 206,531.75
1/20/17 1/20 A.77577 CHK: 087021 87531 CSD C.),RTLY SALES TAX REIM 003990 081817 WIDE 28,475.54 235,007.29
1/26/17 1/26 1377868 0111<: 087120 87649 EXCO - ADD]. INC:. 1 OR 4 004522 INCENT 82 012317 20,000,00 255,007.29
1/31/17 2/10 1355356 1.5433 JE25787 WEDGE FORGIVENESS 42 JE5 025787 91,666.67 346,673.96
m, JANUARY ACTIVITY 03 197,414.41 CR. 0.00 197,41.4.41
5611-56040 SPECIAL SERVICES
BEGINNING BALANCE 44,044.:15
1/06/17 1/0E A76349 ONE: 086716 87164 SURV-IND CT-11WY 78 COMB 004737 57284 WEDC 2,000.00 46,044.15
1/09/17 1/09 A76594 CHIC: 086817 87221 TRAFFIC COUNTS-OWN TOWN 000701 201643 WEDC 600.00 46,644.15
1/18/17 1/18 A77353 CHIC: 086998 07470 MOW-LOT BY POST DEC 001173 010317 WEDC 150.00 46,794,15
1/18/17 1118 1377353 CHIC: 086998 87470 MOW-WAGS DITCH 001173 010317 WEDC 175.00 46,969.35
1/19/17 1./n A77490 OFT: 000280 87496 KEY - HPPY MOTORS 000912 8277 JAN17 WYGANT 1.97 46,971.12
1/30/1.7 1/30 A78162 VOID:: 087183 87727 REVERSE VOIDED CHECK 004756 BH-247 4,500.00CR 42,471_12
1/30/17 1/30 1378170 CHK 087205 87732 ENGN SERV-FLD PLAIN STD 004756 BH-247A 4,500.00 46,971.12
1/30/1-.1 1/30 7781.21 CHK: 0871.83 87723 ENG SVC-EID PLAIN STD54 004756 814-247 4,500.00 51,471_12
1/31/17 1/31 1378254 CHK: 087220 137762 900 KIRBY-A3JHES. INSPECT 001.026 17005 850.00 52,321.12
TAIIUARY ACTIVITY OR: 12,776.97 CR: 4,500.000R 6,276.97
------------
5611-56060 ADVERTISING
BEGINNING BALANCE 6,721.00
---------
5611-56090 COMMUNITY DEVELOPMENT
BEGINNING BAT A. N C E 3,538.24
1/18/1.7 1/18 A77335 CHK: 087002 87470 WISD ED. FOUND GALA SPON 000379 706 WEDC 1,000.00 4,538.24
1/19/17 1/1.9 1377490 DFT: 000280 87496 HUI SUPPLIES 000912 8277 JAN17 WYGANT 65.12 4,603.36
1/19/17 1/19 A77490 OFT: 000280 87496 CCM SPONSOR 000912 8277 jAN17 WYGANT 1,500,00 6,103.36
1/19/17 1/19 A77512 CBE.: 087009 67505 STETSON & STILETTO SPONS 002472 011316 WEDC 2,500.00 6,603.36
JANUARY ACTIVITY Dfl 5,065.12 CR: 0.00 5,065.12
5611-56110 COMMUNICATIONS
BEGINNING B A L A. N C E 1,329.54
1/17/17 1/17 A77274 CHM.: 086969 87426 INTERNET SVC 004568 2101577989 DC25-JA 204.76 1,534.30
1/18/17 1/18 A77354 C11K: 087000 87470 TABLET SVC 001797 822495799-07 DEC16 113.97 1,648.27
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2-15-2017 I. 4.6 PM DETAIL LIS' T' INC PAGE 4
FUND 11.1-WYLIE ECONOMIC DEVEL CORP PERIOD TO USE Jan-2017 TURD Jaa-2017
00 PF Ill. DEVELOPMENT CORP'WOOF AECOUNTS 5611-52010 THEW 5611-58910
POST DATE II/AN # REFERENCE
BEGINNING BALANCE 8,587.30
1/19/17 1/18 177331 CHE 086994 87470 ENG. SVC-FM 544 ADDITION 0(70196 1703A WEDU 1,297.00 9,874.30
JANUARY ACTIVITY DB 1,287.00 CR: 0.00 1,287.00
--------------- -------------- ------ - ______________ ________
5611-56610 UTILITIES-ELECTRIC
BEGINNING B A. L A. N C E 410.22
1/06/17 1/06 176343 C.11E 086710 87164 UTILITIES-E1ECTRIC 003302 1167674184 503-DC 101.34 511.56
1/06/17 1/06 A76344 CUE: 086710 87164 UTILITIES-WATER 003302 122-1040-01 NOV16 26.56 538.12
1./06/11 1/06 A76345 CHIK. 086710 87164 UTILITIES-GAS 003302 30292887066 DEC16 17,36 555.48
145.26 C8:: 0.00 145.26
---------------------------------------- -
5611-57110 DEBT SERVICE
BEGINNING BALANCE 0.00
- -
5611-57110 PRINCIPAL PAYMENT
BEGINNING BALANCE 157,792.74
1/03/17 1/10 11154970 link Dft 01.0317 15310 JE25580 K.04 PMT #16 JE# 025580 7,835.73 165,628.17
1/11/17 :1/23 055113 Fmk Dft 01111.7 15361 .3E25659 PEDDICORD/WHITE P14T425 JE# 025659 5,278.76 170,907.23
1/17/17 1/25 055145 link DUL 01171.7 15373 jE25674 WE PKWY PMT 429 3E6 025674 11,794.59 182,701.82
1/20/1.7 1/2.5 1355191 Bnk Dft 012017 15376 JE253/93 BUCHANAN PMT #29 3E4 025693 6,631.73 189,333.55
1/20/17 1/25 B55192 Pink Di.! 012017 15376 JE25694 JARRARE PROPERTY #1 JE# 025694 1,984.15 191,31.7,70
1/23/17 1/25 B55193 Bnk Oft 01.2317 15377 JE25695 EDGE PMT #7 jE8 025695 11,492.47 202,810.17
1/27/1/ 2/01 755251 link Eft 012717 15400 3E25733 HUGHES/RANDACK BMT#50 jE# 025733 9,729.68 212,539.85
---------... . JANUARY ACTIVITY DE: 54,747.11 CRC0.00 54,747.11
5611-57415 INTEREST EXPENSE
BEGINNING R A L A. N C E 40,557.10
1/03/17 1/10 1354970 Enk 11i1. 010317 15310 JE25580 K6M PMT #16 JE# 025580 909.52 41,466.62
1/11/17 1/23 B55113, Fink Dft 011117 15361 JE25659 PEDDICORD/WHITE PMT#25 jE# 025659 2,1.03.69 43,570.31
1/17/n 1/25 1755145 Enk 1131 L. 01171) 15373 jE25674 WB PKWY PMT #29 jE4 025674 1,473.34 45,043.65
1/20/17 1/25 B55190 Bnk Dft 012017 15376 3E25692 DALLAS WHIRLPOOL PMT42 JE# 025692 6,888.89 51,932.54
1/20/17 1/25 055191 link DLL 012017 15376 JE25693 BUCHANAN PMT 429 JE4 025693 700.22 52,632.76
1/20/17 1/25 E55192 link Dft 012017 15376 JE25694 JARRARD PROPERTY #1 3E1 025694 1,125.00 53,757.76
1/23/1.7 1/25 655193 Enk It 01.2317 15377 3E25695 EDGE PMT #7 JE# 025615 5,567.34 59,325.10
1/27/17 2/01 B552.51 link Dft 01.2717 15400 JE25733 HUGHE5/RANDACK PMT#50 JE4 025733 377.32 59,702.42
JANUARY ACTIVITY Dli: 19,1.45,32 OFt. 0.00 19,145.32
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FUND : Ili WYLIE ECONOMIC DEVEC CORP PERIOD TO USE Jan 2017 TORN Jan-2017
DEPT » 611 DEVELOPMENT CORP- uxouars:: 561 I-52010 TORO 5611-56910
POST DATE TRAN t REFERENCE
000 ERRORS IN THIS REPORT!
'''''' REPORT TOTAS ''''' CREDITS .
BEGINNING BALANCES 2,925,076.52 0.00
REPORTED ACTIVITY: 296,293.04 5,007.00CR
ENDING BALANCES 3,221,369.56 5,007.0CCP
TOTAL FUND ENDING BALANCE: 3,216,362.56
Wylie Economic Development Corporation
Balance Sheet Sub Ledger
January 31, 2017
Notes Payable
Date of Rate of Principal
Purchase Payment Beginning Bal. Principal Interest Interest Balance
January 1, 2017 5,778,814.34
ANBTX-88130968 HUGHES/RANDACK(#50 of 60) 10/23/12 10,107.00 109,734.53 9,729.68 377.32 3.99 100,004.85
ANBTX-88130976 WOODBRIDGE PKWY (#29 of 60) 8/15/14 13,267.93 655,993.58 11,794.59 1,473.34 2.61 644,198.99
ANBTX-88148481 BUCHANAN(#29 of 60) 8/13/14 7,331.95 222,881.72 6,631.73 700.22 3.77 216,249.99
ANBTX-88149711 PEDDICORD/WHITE(#25 OF 120 12/12/14 7,382.45 601,053.11 5,278.76 2,103.69 4.20 595,774.35
ANBTX-88158043 K&M/HOBART(#16 of 48) 9/2/15 8,745.25 272,857.22 7,835.73 909.52 4.00 265,021.49
ANBTX-88157334 LINDUFF/EDGE(#7 of 15) 10/21/15 17,059.81 1,616,294.18 11,492.47 5,567.34 4.00 1,604,801.71
ANBTX-88158357 DALLAS WHIRLPOOL(#2 of 60) 11/22/16 6,666.67 2,000,000.00 0.00 6,888.89 4.00 2,000,000.00
JARRARD GRAYS AUTO(#1 OF 120) 12/1/16 3,109.15 300,000.00 1,984.15 1,125.00 4.50 298,015.85
January 31, 2017 $54,747.11 $19,145.32 5,724,067.23
Wylie Economic Development Corporation
Inventory Subledger
January 31, 2017
Inventory- Land
Date of R r. Address Acreage Improvements Cost Basis S -tot is
Cooper McMasters 7/12/05 709 Cooper 0.48 n/a $202,045
Heath 12/28/05 706 Cooper 0.46 $32,005 3,625 186,934
Perry 9/13/06 707 Cooper 0.49 Demo 200,224
Bowland/Anderson 10/9/07 Cooper Dr. 0.37 n/a 106,419
KCS 8/1/08 Cooper Dr. 0.41 n/a 60,208
Duel Products 9/7/12 704 Cooper Dr. 0.50 n/a 127,452
Randack 10/23/12 711-713 Cooper Dr. 1.09 217,500 8,880 400,334
Lot 2R3 7/24/14 Cooper Dr. 0.95 n/a 29,056 $1,312,672
Industrial Ct. Hughes 7/25/06 211 -212 Industrial 0.74 Demo 420,361
R.O.W. 0.18 41,585
Prime Kuts 10/8/07 207 Industrial 0.20 Demo 229,284
R.O.W. 0.11 n/a 77,380
Cazad 3/17/08 210 Industrial 0.27 Demo 200,782
Buchanan 8/13/14 400 S. Hwy 78 1.25 Demo 503,233
Glenn 4/24/15 209 Industrial Ct 0.18 Demo 326,773
R.O.W. 0.12 n/a
Mann Made 2/10/16 398 S. Hwy 78 1.23 Demo 750,244
C.O.W 4/13/16 R.O.W. 0.29 n/a 52,653
Jarrard 12/22/16 201 Industrial Ct 0.29 32,893 3,900 300,493 2,902,788
Regency Regency Pk. 6/4/10 25 Steel Road 0.65 n/a 25,171 25,171
Commerce Hobart Investments 11/12/13 Commerce 1.60 n/a 156,820
Hobart 1/6/14 605 Commerce 1.07 396,263 20,000 386,380
Dallas Whirlpools 11/22/16 900-908 Kirby 4.79 2,182,080 2,725,280
Downtown Heath 3/17/14 104 N. Jackson 0.17 Demo 220,034
Udoh 2/12/14 109 Marble 0.17 n/a 70,330
Peddicord 12/12/14 108/110 Jackson 0.35 155,984 4,444 486,032
City Lot 12/12/14 100 W. Oak St 0.35 n/a
Jones (K&M) 9/3/15 106 N. Birmingham 0.21 42,314 4,125 190,596
FBC Lot 6/15/16 111 N. Ballard St 0.20 na 150,964 1,117,956
Alanis White Property(Alanis) 12/12/14 Alanis 6.63 n/a 420,336 420,336
South Ballard Birmingham Trust 6/3/15 505 -607 S. Ballard 1.12 Demo 409,390 409,390
Total 26.90 $876,959 44,974 $8,913,593 $8,913,593
*A Journal entry was made by auditors to adjust the cost of the Hughes land by$4,638.79. This amount was for taxes owed and not part of land value.
*Prime Kuts total purchase price was$306,664.45. The distribution between 207 Industrial and R.O.W. purchased was developed by Seller for tax purposes.
WEDC EXECUTIVE DIRECTOR
J P MorganChase
Expense Report
December 2016
DATE PAYEE AMOUNT BUSINESS PURPOSE INDIVIDUAL/GROUPS PRESENT
01/02/16 Cytracom 160.13 Telephone Service NA
11/30/16 Club Corp 637.86 Dues December Dues
11/01/16 Club Corp 122.58 Business Meeting Satterwhite,Walters
12/16/16 (Ballard Street Café 31.03 Proj. Update Satterwhite, Dawkins
01/04/17 Cotton Patch Café 35.28 WEDC Update Satterwhite, Yeager, Cooper
TOTAL 986.88
WEDC Senior Assistant
JPMorgan Chase
Expense Report
December2016
DATE VENDOR I PURPOSE AMOUNT
12/5/16 Walmart WEDC Holiday Promotion 65.12
12/6/16 Tom Thumb WEDC Board Meeting Meal 10.82
12/7/16 Home Depot Key- Happy Motors 1.97
12/7/16 Chilosos WEDC Board Meeting Meal 80.00
12/9/16 ICSC RECon Reg. -Satterwhite, Greiner, Hogue 1,710.00
12/8/16 Home Depot Holiday Plant 24.92
12/28/16 CCIM Sponsorship 1,500.00
Total 3,392.83,
WEDC Leasehold Subledger
Tenant Address Amount Due Dec-16 Jan-17 Feb-17 Mar-17 Apr-17 May-17 Jun-17
Helical Concepts 1st 710-711 Cooper II $400 11/29/161 12/22/161 1/25/17 I
Wheels Unlimited 15th 605 Comm-Ste 201 $1,400 12/22/16 1/19/17 2/14/17
Trimark Catastrophe 15th 605 Comm-Ste 204 $1,000 12/7/16 2/1/17
Dennis Richmond 1st Steel Rd $500 12/14/16 1/10/171 2/20/17
half
Austin/Said LLC 1st 605 Commerce $2,000 12/27/16 1&Half 2/13/17
Austin/Said LLC 1st 106 N. Birmingham $1,000 12/27/2016 2/13/2017
DCU 1st 900 Kirby $3,400 1/10/2017 1/6/2017 1/27/17
Auto Hail 1st 908 Kirby $3,000 12/9/2016 Out4/30
Delta-E 1st 201 Industrial Ct $800 1/6/2017 1/25/17
WYLIE ECONOMIC DEVELOPMENT CORPORATION
SALES TAX REVENUE
FOR THE MONTH OF FEBRUARY 2017
MONTH WEDC WEDC WEDC DIFF % DIFF
2015 2016 2017 16 VS 17 16 VS 17
DECEMBER $154,719 $166,418 $197,808 $31,389 18,86%
JANUARY 156,685 163,463 196,347 32,884 20,12%
FEBRUARY 241,858 260,166 276,698 16„532 6.35%
MARCH 171,741 167,082
APRIL 134,475 154,920
MAY 211,645 238,646
J U N E 161,426 180,194
JULY 159,973 212,620
AUGUST 216,962 268,976
SEPTEMBER 195,347 197,339
OCTOBER 160,876 201,506
NOVEMBER 226,078 270,426
Sub-Total $2,191,785 $2,481,757 $670,853 $80,805 13.69%
AUDIT ADJ
TOTAL $2,191,785 $2,481,757 $670,853 $80,805 13.69%
WEDC SALES TAX ANALYSIS
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Wylie Economic Development Corporation
MEMORANDUM
TO: WEDC Board of Directors
FROM: Samuel Satterwhite, Executive Director/
SUBJECT: Parking Improvements
DATE: February 21, 2017
Issue
(Remove from Table) Consider and act upon issues surrounding the construction of parking
improvements on WEDC property located at 111 N. Ballard.
Analysis
Design of the parking improvements south of Boyd Recording Studios has just been completed
and is out to bid. It is unlikely that bids will come in prior to the Board meeting with staff
requesting the item be tabled until March.
Recommendation
Staff recommends that the WEDC Board of Directors table consideration of parking
improvements located at 111 N. Ballard until the Regular Board Meeting in March.
Wylie Economic Development Corporation
MEMORANDUM
TO: WEDC Board of Directors
FROM: Samuel Satterwhite, Executive Diaccto „,
SUBJECT: SAF-Holland
DATE: February 22, 2017
Issue
Consider and act upon approval of a Performance Agreement between WEDC and SAF-Holland
USA.
Analysis
Staff had anticipated receiving the final Performance Agreement from Abernathy's office but other
priorities prevented its completion.
Recommendation
Staff recommends that the WEDC Board of Directors table a Performance Agreement between the
WEDC and SAF-Holland,USA until the March Board Meeting.
Wylie Economic Development Corporation
MEMORANDUM
TO: WEDC Board of Directors
FROM: Jason Greiner, Assistant Director 6A.
SUBJECT: Renewal of Retail Consulting Services
DATE: February 24, 2017
Issue
Consider and act upon an Agreement between the WEDC and The Retail Coach, LLC for consulting services.
Analysis
Attached for your review is a proposal from The Retail Coach to renew the Retail Consulting Services they
provide the WEDC and City of Wylie. The program has changed over the years, so here is a brief recap of
the services they provide:
In 2007, The Retail Coach was initially retained to assist the City and WEDC with development of
marketing materials for ICSC, the International Council of Shopping Centers. The program was successful
and The Retail Coach helped develop custom flyers, updated demographic data, and even facilitated
meetings with brokers, developers and company representatives at the annual ICSC Conference. The Retail
Trade Area demographics,property flyers, and overall marketing strategies were refined/updated in 2008,
2009 and again in 2010.
In 2011,the WEDC signed a new agreement with The Retail Coach. Together,the WEDC and The Retail
Coach developed a Restaurant Recruitment Strategy to identify growing concepts and individual retailers
that would be an ideal fit for the City of Wylie. This customized program led to several local announcements
over the next couple years.
In 2015, the WEDC and The Retail Coach worked together on a more comprehensive Retail Recruitment
Strategy. This two-year program was developed to capitalize on the momentum that was gained over the first
few years of the partnership. The Retail Coach was 100%responsible for developing the marketing
materials, identifying target retailers/restaurants, scheduling face-to-face meetings, and following up with the
prospective retailers during the two-year contract period. The program included: expanded market analysis,
comprehensive demographic &psychographic profiles, retail leakage reports, appointment setting, and
overall trade show representation at retail conferences across the US.
While they have not been solely responsible for the recruit of the new retailers, I am confident that they have
played a major role in facilitating many of these developments here in Wylie. I feel that it is important to
have full-time professionals that assist with our recruitment strategy from beginning to end and maximize
their relationships with the brokerage community.
WEDC—The Retail Coach Agreement
February 24, 2017
Page 2 of 2
I've provided an outline to summarize The Retail Coach (TRC) Program:
• Trade Show Representation&Appointments/Meetings
o ICSC RECon
o ICSC Deal Making
o Retail Live!
o Other Events that TRC attends
o Developer and Retailer 1-on-1 meetings when possible
• Demographic Research
o RTA &Demographic updates for 2017
o Cell Phone Analysis
• Property Flyer Development
o Updated Retailer Maps
o Updated Traffic Count Map
o Updated/New Property Flyers as needed
• Recruitment Services & Outreach Activities/Reporting
o TRC outreach to Retailers,Developers, etc
o Activity updates every two months
o Will report directly back to WEDC Staff
As shown on Page 18 of the proposal the project fees equal $30,000 which establishes a two-year service
agreement and secures on-site assistance (scheduling in attending meetings) for ICSC RECon 2017 and
2018.
Staff Recommendation
Staff recommends that the WEDC board of directors authorize the executive director to enter into an
agreement with The Retail Coach in the amount of$30,000 for the creation and implementation of a retail
economic development plan.
Attachments
Retail Coach Proposal
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CONTENTS
FIRMN ROFILI ................. ......... .............................. ................. 5
PHASE 1, GOMMUMTY CORE ANALYSIS ....... ............... ............
PHASE : MARKETING -F BRA 'DINNG,,. _12
PHASE , GIST DATA PLATFORM ................... ................. ... .... 14
PHASE , RETAILER RECRUITMENT PLAN..... ......... .............._15
PHASE 5: DEVELOPER RECRUITMENT PLAN . ........ 16
DELIVERABLES ,.......,.
66
()lir piiri)()se is to provide an tiii( onintoti level
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of customized service and (ixpei.tise to help
coliiirimitities move beyond the data to retail i
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expansion and development 1.estilts.
C. KELLY COFER, CCIM
PRESIDENT&CEO,THE RETAIL COACH.LLC
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SINCE 2000E BROUGHT
, RECRUITINGE' SUCCESS TO
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For more than 16 years, The Retail Coach (TRC) has been the "go-to firm" for municipalities,
economic development organizations, chambers of commerce, real estate developers, and
retailers seeking practiced advice on retail strategy, property development, property
redevelopment, and urban revitalization.
As the first transaction-oriented retail real estate advisory firm in the nation—with
experience in more than 400 communities and repeat assignments with over 88 percent of
them—we provide tailored, end-to-end retail economic development strategies for clients.
Our success lies in our unique private-sector perspectives and experiences—that of a
retailer and a retail real estate practitioner. These unique abilities and insights are based on
knowledge gained from working as a national site selector in the corporate real estate
department for an NYSE-traded national retailer and as a real estate broker representing
retailers with programmed market analyses and site selection.
Our Retail:360® Process approach is tailored to each client's specific needs, goals, and
opportunities, and includes the following phases:
• Metro Research
• Community Core Analysis
• Marketing & Branding
• GISt Site Mapping Platform
• Retailer Recruitment
• Action Plan
• Developer Recruitment
• Supportive Retail Coaching to ensure clients gain a competitive edge in the
marketplace
• Urban Revitalization
Our experiences and strategies have assisted in the leasing, selling, development, and
redevelopment of millions of square feet of freestanding, urban, strip center, mixed-use,
and mall projects throughout the United States.
I. ' Ol ll. r,Y 0 ru/ I , j ''i )), f If
+i111 C. KELLY COFER. CCIM
IYNN PRESIDENT/CEO
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blend his expertise in retail real estate
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'19 , 0 h knowledge of economic and community
development to assist more than 400
j uu 1' communities across the U.S.in reaching
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% 1r expert ert in finance,market research and
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� o analysis, urban and suburban retail,
;� I��� property development and
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experience in the retail real estate
business are unmatched.The Retail Coach was born from Kelly's determination to see communities succeed
and to give city leaders the knowledge and ability to recruit retail.
Kelly lead the site selection for new stores and headed the rollout for national restaurants and retail brands as a
commercial real estate broker in Dallas,Texas.As Vice President of a land development firm, Kelly conducted
the identification and acquisition of prime retail development properties in the state of Texas. His extensive
experience includes national site selection in the corporate real estate department of a NYSE-traded national
retailer leading market analysis and new market site selection.
Kelly attended the Economic Development Institute at the University of Oklahoma,holds a Bachelor of Science
degree from Texas A&M University,and earned the prestigious Certified Commercial Investment Member(CCIM)
designation from the Chicago-based Commercial Investment Real Estate Institute.
As a nationally recognized speaker, Kelly has given speeches and led seminars on retail real site selection,retail
development,community and economic development,and urban revitalization for industry organizations
throughout the United States.
f1,1110 „ AARON FARMER
j ��i SENIOR VICE PRESIDENT
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��Ig1111 For ten years,Aaron Farmer has served
"" as the Senior Vice President of The Retail
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industry has helped him lead projects in
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it % ''' III' retail strategies and retail recruitment to
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Gy�� �' Aaron holds a Bachelor of Science
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wu� Business School and a Masters of
loos Business Administration from Texas A&M
University. Prior to joining The Retail
.. iV����III Coach,Aaron was employed in
marketing research and retail development where he worked on projects for some of America's leading retailers
and restaurants including FedEx, Kinkos,Sally Beauty Supply,Adidas,Concentra,and the National Association
of Subway Franchises.
As a highly sought-after speaker,Aaron has given presentations to organizations and municipalities throughout
the United States.He is also the instructor for the Texas EDC and the Economic Development Council of
Colorado's Basic Economic Development Course.
Using his extensive national retail and real estate developer network within the retailing industry,Aaron has
successfully recruited major brands,including Costco,Academy Sports+Outdoors,SuperTarget,Walmart
Supercenter,Sprouts,and HomeGoods,to municipalities across the United States
SCOTT EMISON
I VICE PRESIDENT - OPERATIONS
, Scott Emison, Director-Retail Strategy,believes retail is the most important
11
JI modern-day economic driver and is passionate about working with
r# municipalities to seek and execute their potential for better retail and,
ultimately,a better quality of life.With a background in architecture and
fd%1, business development,Scott has found his true calling in a marriage of the
two at The Retail Coach.
ry. After the devastation that ripped through the Mississippi Gulf Coast during
111 Hurricane Katrina,Scott worked in an Honors Master Planning Studio to help
rebuild the area.He studied Urban Planning Design and Documentation
while studying abroad in Vicenza, Italy.He graduated cum laude with a
Bachelor of Architecture from Mississippi State University,where he interned
at the Carl Small Town Center. He holds an Urban Planning Certification
from the MSU Gulf Coast Community Design Studio and previously served
on the Downtown Tupelo Main Street Association Design Committee. He
worked as an adjunct instructor teaching workforce level drafting and
design classes.Scott has eight years of project management experience
working in commercial architecture and development.
With experience in planning and design,Scott focuses on trying to
understand what makes each client community unique and tailors a strategy
to reflect the community's current needs and vision for the future.
KIMBERLY ALLRED
PROJECT MANAGER
Kimberly Allred graduated cum laude from the University of Mississippi with
a Bachelor's degree in International Studies and Spanish.She returned to Ole
AI I Miss to receive a Master of Business Administration.While in college,
Kimberly was a student of the Croft Institute for International Studies and a
II VINO �" �l member of the Sally McDonnell Barksdale Honors College where she
ten,„xs
traveled extensively from studying abroad in Spain to thesis research in San
ill Francisco.Her previous career experience includes political campaign
scheduling and finance,business consulting for several small businesses and
non-profits,and retail management with the iconic retail brand
Anthropologie.The critical thinking,interpersonal,and customer service
skills she acquired in these positions propel her forward in the role of Project
Manager,where Kimberly serves as the clients'go-to member of The Retail
Coach team.A talented painter, Kimberly channels her creativity into
marketing client communities at The Retail Coach.
MATTHEW LAUTENSACK
RESEARCH AI' AII.)(SI _ IRET A.IL S..FRATE Y
Roo '1 Oswego, New York,native Matthew Lautensack brings a specialization in
technology integration to The Retail Coach team.Proficient in user
experience,digital platform design,ecommerce,and digital advertising,
Matthew is a tremendous asset to our staff.As the Director of Information
Technology and Ecommerce Strategy at SallyeAnder, Inc.,in Minetto, New
11111111,,,
York,Matthew was a part of the lead sales team at industry trade shows,
built and maintained the company's web presence,and was the lead on all
jecommerce activities.
MARY-FRANCES STEPHENS
CREATIVE SPECIALIST
1P111111 When presented with information,technology,and an idea, Mary Frances
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takes the ordinary and transforms it into the extraordinary. With a Bachelor
of Art Degree in Graphic Design from the University of Mississippi and by
r ��, ' traveling to over 14 countries, she brings an exciting new perspective to The
' , ��- l 010 Retail Coach.As an artist,she is passionate about cultural differences and
focusing in on her surroundings with a new light. Mary Frances uses her'' passions with The Retail Coach bybringing an extra spark in creative
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marketing for client communities around the nation
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w l UNI 1TY C ' ANALYSIS
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2.1 I DETERMINING RETAIL TRADE AREAS
The retail trade area is the foundation of the strategy, and its accuracy is critical. The retail
trade area is the geographical area from which a community's retail derive a majority of
their business. To best confirm a community's retail trade area, we will execute the
following strategic steps:
Mobile Data for Location Decisions
TRC will utilize mobile location technology that analyzes location and behavioral data
collected from mobile devices to determine consumer visits to Wylie and its retail districts.
This hiith•-confidence data 'iis used to verify retail tirade areas and validate retail site selection
and expansion decisions.
Discussions with Retailers
TRC will interview national and regional retailers, seeking input on their business
performance and, most importantly, where consumers are traveling from—based on point-
of-sale data. No one knows the travel and shopping behavior of consumers better than the
retailers themselves. This point-of-sale data is significantly more accurate than computer-
generated estimates of radial and drive-time populations.
Retail Trade Area Mapping
TRC will delineate a boundary map of the retail trade area using mobile data collected and
retailer interviews.
2.2 DE °GRAPHIC PROFILING
A community must be able to instantaneously provide information and data sets sought by
retailers during the site selection process. The data must be accurate, current, and readily
available.
The Retail Coach will create comprehensive 2010 Census, 2017, and 2022 demographic
profiles for the retail trade area, Wylie community, and appropriate drive times.The profile
includes the following characteristics:
• Population and projected population growth
• Population growth trends
• Ethnicities
• Average and median household incomes
• Median age
• Households and household growth
• Educational attainment
2.3 •_GRAPHIC PR* FILING;
As retail site selection has evolved from an art to a science, psychographic lifestyle
segmentation has become an essential element of retailers' preferred location criteria.
Understanding a consumer's propensity to purchase certain retail goods and services—as
well as specific retail brands—is valuable to national, regional, and independent retailers.
Understanding consumer behavior and their retail purchasing habits eliminates risk for
retailers to make site decisions. Based on the market segmentation system developed by
ESRI,TRC will develop a Tapestry Segmentation profile of the households in the retail trade
area by using the most advanced socioeconomic and demographic data to:
• Measure consumer attitudes, values, lifestyles, and purchasing behaviors to understand
the categories and brands of retailers that may be of interest.
• Graph lifestyle classifications, highlight dominant lifestyle segments, and provide
comprehensive definitions of lifestyle segments.
• Rank lifestyle segments and categorize them by summary group, segment code, and
segment name.
2.4 DETERMINING
The workplace population or labor market area is important to quick-serve and casual
dining restaurants that rely heavily on lunch business.
A community's labor market may be confined to city boundaries, or it may include areas of
employment outside the boundaries. TRC will provide an employment summary report
detailing the total number of establishments, by industry, and employee counts within
the designated labor market area.This report will provide insight into the "work here"
population versus the "live here" population.
2.5 IDENTIFYING RETAIL GAPS
A retail gap analysis will determine the level of retail demand for a designated retail trade
area. The analysis computes the retail potential of the retail trade area and then
compares it to estimated actual sales in the community. The difference is either a
leakage, where consumers are traveling outside the community for certain retail goods
and services, or a surplus, where consumers are traveling from outside the community
for certain retail goods and services. TRC will perform a retail gap analysis to calculate
the approximate flow of retail dollars in and out of Wylie. The retail gap analysis will:
• Identify retail sales surpluses and leakages for more than 88 retail categories.
• Distinguish retail categories with the highest prospect for success and quantify their
retail potential.
• Develop and provide summary tables and graphs of each retail category, illustrating
potential sales versus estimated actual sales.
2.6 IDENTIFYING
Retailers are interested not only in the market data on your community, but also in
evaluating all available sites that fit their site selection criteria and location preferences,
A community must create and maintain a database of prime available properties along
with accurate and current marketing information.
TRC will identify five prime retail sites to market. Selection criteria will be based on the
essential factors of regional and national retailers' site selection criteria, including
location and character of the area, retail trade area population, traffic and traffic
patterns, visibility, adequate parking, available signage, and safety.
Q PHA"'' E „,1 BEING° IIkI
The most critical step in attracting targeted retailers is providing accurate and current site-
specific information to corporate site selectors, real estate brokers and developers.
2.1 •,FILE
TRC will develop a retail market profile tailored to the specific needs of targeted retailers'
essential location criteria. The profile serves as a community introduction and includes:
• Retail trade area map
• Location map
• Traffic count map
• Demographic profile summary
• Appropriate logo and contact information
TRC will create a retailer-specific retailer feasibility package to address retailers' essential
location criteria.The feasibility package includes:
• Community overview
• Real estate sites
• Location map
• Retail trade area map
• Existing retailer aerial map
• Retailer location map
• Retail trade area demographic profile summary
• Retail gap analysis summary table
• Retail trade area psychographic profile
• Retail trade area demographic profile
• Community demographic profile
• Area traffic generators
• Retail site profiles
• GISt interactive maps
• Appropriate logo and contact information
TRC will create an online community dashboard, which is available at www.Retail360.us, for
visual presentation and easy downloading of marketing information and data sets.
2.3 RETAIL SITE PR• FILES
TRC will create a retail site profile for each identified site with current site-specific
information, including:
• Location
• Aerial photographs
• Site plan
• Demographic profile
• Property size and dimensions
• Traffic count
• Appropriate contact information
2.4 REAL ESTATE DEVELOPER OPPORTUNITY PACKAGE
TRC will create a developer opportunity package for development and redevelopment sites
that are identified and analyzed. The package will profile each site based on real estate
developers' site selection criteria. The developer package includes:
• Community overview
• Location map
• Retail trade area
• Demographic trends
• Aerial imagery
• Traffic counts
• Site-line visibility from major and secondary traffic arteries
• Ingress/egress for primary and secondary traffic arteries
• Appropriate zoning
• Area retail
• Top employers
• Workplace population
• Potential retail tenants
TRC will also upload the developer opportunity package to the online community
dashboard at www.theretailcoach.net.
2.5 •
TRC will represent Wylie and market its real estate sites to retailers and real estate
developers at retail industry conferences attended.
PI PH : 3111 I allA TA PIA
3.1 I SITE
As an accredited ESRI Partner,TRC is able to deliver concise, easy-to-access data for the
Wylie community, along with the preloaded 5 prime sites and the 5 new development
and redevelopment sites we will be marketing to retailers and developers (Sections 2.7
and 2.8). Considering retail site selectors do much of their research while in hotel rooms
and in airports, this is a great advantage to Wylie. Unique GISt maps and data can be
hosted as a stand-alone application on your iPad or embedded within your community's
website for"touch of a button" universal usage by retailers, developers, real estate
brokers, and existing retailers in Wylie.
GISt is a powerful platform that streamlines sites and data into one interactive and
centralized location. Demographic, socioeconomic, psychographic, and retail spending
layers are detailed down to the block level. With customizable layers to meet the needs
of each individual user, real estate brokers, site selectors, and developers can see a
community's potential like never before. Each user-friendly map includes clickable
layers revealing:
0 Median household income
O Population density
• Population growth
• Psychographic lifestyle segmentation
• Ethnicity median home value
O Median age
°„II 'I11l f,SE
!' : RET 0111:MIR RECRUIT° I'1'rIIL' I N
Ai I RECRUIT ENT OF RETAILERS
TRC is the first national retail real estate advisory firm to introduce retail recruitment for
communities. Sixteen years and more than 400 projects later, the recruitment of retailers
remains one of the primary metrics of success.
While accurate and current data are necessary, one of the most important components of a
retail strategy is proactive recruitment. Since recruitment is a process, not an event,TRC
team is actively engaged in recruitment efforts over a 12-month period to ensure success.
Our recruitment process includes the following steps:
Step 1: Identification of Retail Prospects
TRC must target retail brands that are a good "fit" for the community which means the retail
trade area population, disposable incomes, ethnicities, ages, and education levels should
meet the retailers' ideal location criteria.
TRC will identify regional and national retailers whose essential location criteria fit within
findings from the metro analysis, community core analysis, retail trade area demographic
and psychographic profiles, and retail gap analysis. These retailers will be matched with the
specific real estate sites identified.
TRC team will review a preliminary target list with Wylie staff and work together to prepare
a final target list of 25 retailers for recruitment.
Step 2:Recruitment
• Introductory emails and retail market profiles are sent to each targeted retailer.
• Personal telephone calls are placed to measure interest level.
• Personal emails and retailer feasibility packages are sent to each targeted retailer.
• Personal emails and retail site profiles for prime sites are sent to the appropriate
targeted retailer.
• Personal emails are sent to inform targeted retailers of significant market changes.
• Personal emails are sent to decision makers once per quarter to continue to seek
responses regarding their interest level.
A retailer status report is provided with retailer responses resulting from our continued
recruitment activities on a monthly basis.
II I° °, « p EREc„,III 1" IE,!1111°1I� PLAN
5.11 RECRUIT ENT • F REAL ESTATE DEVELOPERS
Much of recruitment success comes from establishing a network of national retail
developers over the past 16 years.
Developer networking and developer recruitment have become key components in a
community's retail recruitment and development success. Retailers have specific property
requirements based on their site location criteria. A mid- to high-tier retailer might show
interest in a community; however, there may not be sufficient ready-to-lease properties
matching their needs and brand requirements. Relationships with developers are important
in these situations to capitalize on retailer interest and opportunity.
Step 1:Identification of Developer Prospects
Identify 25 retail real estate developers active in Texas and the United States.
Step 2:Recruitment
• Introductory emails and developer opportunity packages are sent to developers.
• Personal telephone calls are placed to measure interest level.
• Personal emails are sent to inform developers of the status of interested retailers and
any significant community changes.
A Developer status report is provided with retailer responses resulting from our continued
recruitment activities on a monthly basis.
11
HASE TAL , C MC
6.11 RETAIL C.ACHI
Because retail recruitment is a process, and not an event, TRC partners with Wylie on a
long-term basis.
IRC has and iriti continue to be ava6labie when you have questions, new itlt.r,as, need access
to GS rrapong, or just want to brahistorm MCI someone who understands your
opportunities as your corimunRy grows and develops. The "IF,..(2 team s also available
during the Retail Coacfting Phase to create new reports as needed, and customize these
reports to spec he retakrr and developer prospects
It is critical you continue the recruitment process with the most current data and statistics
available to capture these positive changes. In this regard, consider TRC both a sounding
board and an experienced resource. We will be available via email and telephone at no
additional charge in an off-site advisory capacity for the entirety of the 24-month
agreement.
This approach is unique to TRC, and it will contribute to ensuring your community will
achieve its retail recruitment and development goals.
� 1
!/I f li ( r Q l �J i 1 %'G II U III
1 PROJECT REPORTING
The Retail Coach will utilize a reporting process to provide written or electronic project
updates on a bimonthly basis.
2ICOMMUNITY TRIPS
TRC team will make a minimum of three site visits to Wylie during the project.
EINE b PRICING
TRC team is available to begin this work immediately upon agreement of terms. The project
period is
two (2) years,A project timeline will be submitted to staff at the kickoff meeting, indicating
trip details and potential delivery dates.
Project Fees
The total fee for completion of this work is $30,000, payable in three installments:
a) $10,000 upon execution of the agreement;
b) $10,000 upon updating all 2017 reports, Retail Site Profiles, and all branding and
marketing materials;
c) $10,000 upon 18 months after execution.
Project fees are payable within 30 days after receipt of the invoice.
Should Wylie request a special assignment or additional work not specifically referenced in
the contract, TRC will prepare a written authorization to be signed by Wylie in advance of
commencing any additional work.
Reimbursable Project Expenses
It is estimated that reimbursable expenses will be approximately $1,500. Reimbursable
expenses include:
a) All travel costs;
b) Cost of special renderings and maps, if any;
•
Cost of copies for reports and maps/drawings; and
c) Cost of shipping expenses, if any.
Project expenses are payable within 30 days after receipt of the expense invoice.
TRC will provide the following deliverables on a flash drive.
1M ) r; 1 II '„ « ri M
TRC has found that communities must have accurate, current information at their fingertips
and be able to respond to the requests of corporate retail site selectors, real estate
brokers, and developers instantaneously. To enable communities to better meet these
demands, we provide select reports in a package format, which includes cover page,
appropriate logo and contact information, and sourcing.
PHASE 1: CO UNITY CORE ANALYSIS
• Retail trade area map with demographic profile (historical/current/projected)
• Wylie community demographic profile (historical/current/projected)
• Retail trade area psychographic profile, including dominant lifestyle segmentations
• Daytime population summary
• Retail gap analysis, including a summary table showing surpluses and/or leakages
PHASE ® w
• Wylie retail market profile
• 25 retailer-specific feasibility studies
• Five retail site profiles
• GISt interactive site mapping platform
• Developer opportunity package
PHASE 3: GIST DATA PLATFOR
PHASES 4-5: RETAILER
• Target list of 25 retailers with contact information
• Retailer status report based on retailer contacts
• Target list of 25 real estate developers with contact information
• Developer status report based on developer outreach
PHASE ® C.:ACHING
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IN WITNESS WHEREOF, the parties have executed this agreement as of the___day of
, 2017.
The Retail Coach, LLC,
BY: _.M.._.. ._._._._ ...._,,.. --. , _ .
C. Kelly Cofer, President/CEO
Wylie Economic Development Corporation
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Wylie Economic Development Corporation
MEMORANDUM
TO: WEDC Board of Directors
FROM: Samuel Satterwhite, Executive Direct
SUBJECT: All State Fire Equipment
DATE: February 21, 2017
Issue
Consider and act upon issues surrounding a Performance Agreement between the WEDC and All
State Fire Equipment, Inc.
Analysis
On December 29, 2014, the WEDC entered into a Performance Agreement with All State Fire
Equipment. The Agreement was further Amended in May of 2015 to allow for the date by which
a CO was issued to be amended from December 31, 2015 to August 1, 2016. The Board may
recall that there was considerable difficulty during the All State loan process due to the appraiser
having difficulty identifying comparable sales comps in the area. All State had to put more cash
down to offset the appraisal challenges. Construction started in July 2015 with a CO
subsequently issued on March 9, 2016.
What staff failed to realize at the time of the Amendment was that Incentive Payment No. 2 of
$20,000 was based upon personal property values coming in at $215,000 and being included in
the required $1.1 mm cumulative total value of real and personal property. With the CO not
issued until March 2016, personal property was still in Rowlett and valued that way as of January
1, 2016.
Real property value came in at $956,445. Had the personal property been located in Wylie as
anticipated when the Agreement was originally signed in December 2014, the total valuation
would have been $1.4 mm with the actual personal property value in Rowlett coming in at
$459,950.
Section IV of the Agreement indicates that the incentive payment will be voided if the
Performance Requirements are not met. Under the extenuating circumstances, staff would like
for the Board to discuss potentially reducing the incentive payment by what would have been
generated in property taxes on the projected $215,000 in personal property or the actual personal
WEDC-- Ali State Fire Equipment
Febivaty 21, 2017
Page 2 of 2
property value of$459,950. $215,000 would have generated $2,836 with $459,950 generating
$6,066. Subtracting those amounts from$20,000 would net$17,164 and$13,934 respectively.
Recommendation
Staff recommends that the WEDC Board of Directors approve an amendment Incentive Payment
No. 2 of$13,934.
Attachment
Performance Agreement
PERFORMANCE AGREEMENT
between
WYLIE ECONOMIC DEVELOPMENT CORPORATION
and
ALL STATE FIRE EQUIPMENT, INC.
This Performance Agreement (this "Agreement") is made and entered into by and between
the Wylie Economic Development Corporation (the "WEDC"), a Texas corporation organized
and existing under the Development Corporation Act of 1979, as amended from time to time (the
"Act"),and All State Fire Equipment,Inc., a Texas Corporation(the"Company").
RECITALS
WHEREAS, the Company is desirous of making real and personal property improvements
in the form of a 9,300 square foot office/warehouse (the "Project"). The project will have an
estimated valuation of One Million One Hundred Seventy Five Thousand Dollars ($1,175,000) and
will be located at 1305 Century Way in Wylie,Texas (the"Facility"); and
WHEREAS, the Company has requested that the WEDC provide economic assistance to
offset the cost of the construction for the Project and other expenses associated with constructing
the Facility in the City of Wylie, Texas; and
WHEREAS, the construction of the Project in the City of Wylie, Texas will ultimately
create"primary jobs", as that term is defined in the Act; and
WHEREAS, the WEDC has determined that it is in the best interest of the public and the
City and promotes the purposes authorized by the voters of the City of Wylie for which the WEDC
was established to encourage the development and use of business properties within the City;and
WHEREAS, for the public purpose of promoting economic development and diversity,
increasing employment, reducing unemployment and underemployment, expanding commerce and
stimulating business and commercial activities in the State of Texas, and the City of Wylie, the
WEDC desires to offer economic assistance to Company as more particularly described in this
Agreement.
NOW, THEREFORE, for and in consideration of the promises, covenants and agreements
set forth herein, the receipt and sufficiency of which are hereby acknowledged, the WEDC and
Company agree as follows:
I. Economic Assistance. Subject to the terms of this Agreement,the WEDC will provide the
Company economic assistance in an amount up to, but not to exceed Sixty Thousand Dollars
($60,000.00) (the "Economic Development Incentives"). The Economic Incentives will be
paid according to the criteria set forth herein with the WEDC's obligation to pay the
Economic Development Incentives terminating on February 1,2018.
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Upon meeting the qualifications and requirements (the "Performance Requirements"), the
Company shall be entitled to the following Economic Development Incentives:
Economic Development Incentive Payment Schedule:
Expected Cost/Value of WEDC Total WEDC Eligibility
Year Incentive Project Incentive Incentive Expiration
2015 No. 1 $788,000 $20,000 $20,000 2-1-2016
2016 No. 2 $1,100,000 $20,000 $40,000 2-1-2017
2017 No. 3 $900,000 $20,000 $60,000 2-1-2018
II. Performance Requirements hol:Economic Development Incentive.
a. Incentive No. 1: An Economic Development Incentive of Twenty Thousand Dollars
($20,000) will be paid to Company upon completion of the following Performance
Requirements for Incentive No. 1:
1) Receipt of documentation by WEDC supporting the construction of a nine
thousand three hundred (9,300) square foot office/warehouse as evidenced by
a Certificate of Completion or a Certificate of Occupancy issued by the City
of Wylie on or before December 31, 2015, approval of said documentation at
the sole and absolute discretion of the WEDC; and
2) Receipt of documentation by WEDC supporting a minimum construction cost
of the project of Seven Hundred Eighty Eight Thousand Dollars ($788,000)
as evidenced by (a) a building permit issued by the City of Wylie evidencing
the required minimum construction cost, and (b) paid construction invoices
supporting the minimum construction cost, approval of said documentation at
the sole and absolute discretion of the WEDC; and
3) Company is current on all ad valorem taxes and other property taxes due on
the Facility by January 31st of the year after they are assessed and provide
written notice and evidence of such payment to WEDC in a form satisfactory
to WEDC; and
4) Eligibility expiration for the Company to qualify for this Incentive No. 1 is
February 1, 2016.
b. Incentive No. 2: An Economic Development Incentive of Twenty Thousand Dollars
($20,000) will be paid to Company upon completion of the following Performance
Requirements for Incentive No. 2:
1) Receipt of documentation by WEDC supporting a minimum valuation of
One Million One Hundred Thousand Dollars ($1,100,000) for real and
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personal property located at 1305 Century Way, Wylie, Texas as evidenced
by a certified appraisal issued by the Collin County Central Appraisal
District, approval of said documentation at the sole and absolute discretion of
the WEDC; and
2) Company has paid all ad valorem taxes and other property taxes due on the
Project by January 31St of the year after they are assessed and provide written
notice and evidence of such payment to WEDC in a form satisfactory to
WEDC by February 1st of the year after the taxes are assessed: and
3) Receipt of documentation by WEDC in a form satisfactory to the WEDC
evidencing the payment of Sales Tax to the Texas Comptroller of Public
Accounts on behalf City of Wylie in an amount not less than $5,000 for the
2016 calendar year;and
4) Eligibility expiration for the Company to qualify for this Incentive No. 2 is
February 1,2017.
c. Incentive No. 3: An Economic Development Incentive of Twenty Thousand Dollars
($20,000) will be paid to Company upon completion of the following Performance
Requirements for Incentive No. 3:
1) Receipt of documentation by WEDC supporting a minimum valuation of
Nine Hundred Thousand Dollars ($900,000) for real and personal property
located at 1305 Century Way, Wylie, Texas as evidenced by a certified
appraisal issued by the Collin County Central Appraisal District, approval of
said documentation at the sole and absolute discretion of the WEDC; and
2) Company has paid all ad valorem taxes and other property taxes due on the
Project by January 31 st of the year after they are assessed and provide written
notice and evidence of such payment to WEDC in a form satisfactory to
WEDC by February 1st of the year after the taxes are assessed:and
3) Receipt of documentation by WEDC in a form satisfactory to the WEDC
evidencing the payment of Sales Tax to Texas Comptroller of Public
Accounts on behalf of the City of Wylie in an amount not less than $5,000
for the 2017 calendar year; and
3) Eligibility expiration for the Company to qualify for this Incentive No. 3 is
February 1, 2018.
III, WEDC Payment of Reimbursement Incentives. Subject to the terms of this Agreement,
the WEDC shall pay the Incentives within approximately thirty (30) days of receipt of the
required documentation from the Company, subject to verification by the WEDC that the
Performance Requirements have been met or exceeded by the Company.
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IV, Non-Attainment of Performance Requirements. In the event that the Company does not
meet or exceed Performance Requirements as specified in Section II, the WEDC Economic
Development Incentive will be voided in advance of payment. The Company will however
be eligible to qualify for incentive payments in future years. The Company will not be
eligible to receive an Economic Development Incentive payment if documentation
supporting Performance Requirements are not received by WEDC prior to the Eligibility
Expiration Date,
V. Economic AssistanceTermination. The Agreement may be terminated by mutual
,., .,._. __.mm...... .
agreement of the parties or by either party, upon the failure of the other party to fulfill an
obligation as set forth in Section II above. Regardless of the Company's level of attainment
of the Performance Requirements set forth in Section II above, the WEDC's obligation to
fund the Incentive payments will expire in full on February 1,2018.
VI. Employee Hiring, Materials and Supplies Purchase. Although not an event of default or
a condition to any advance in the Agreement, WEDC requests that the Company satisfies its
need for all construction contractors from Wylie residents and purchase all materials,
supplies and services necessary to affect the Project and subsequent occupancy of the
Facility from Wylie merchants and businesses.
VII. Community Involvement. Although not an event of default or condition of any advance
hereunder, the Company agrees to actively participate in community and charitable
organizations and/or activities, the purpose of which are to improve the quality of life in the
City of Wylie, Texas, and to actively encourage its employees to be involved in such
organizations and/or activities.
VIII. Verification and Compliance. The Company will allow the WEDC to audit necessary
Company's records, documents, agreements and other instruments in furtherance of the
following purposes: (i) to ensure the Company's compliance with the affirmative covenants
set forth in this Agreement; (ii) to determine the existence of an Event of Default under the
terms of this Agreement; (iii) to ensure compliance with any other terms and conditions set
forth herein or any related documents. Company will provide reports certifying the status of
compliance, jobs retained, new investments and any other relevant information until the
termination of this Agreement
IX. Cessation of Economic Assistance. Notwithstanding anything herein to the contrary,
WEDC shall have no obligation to g disburse WEDC Economic Development Incentives if
the Company becomes insolvent, files a petition in bankruptcy or similar proceedings, is
adjudged bankrupt, makes any materially false statements to the City and/or the WEDC,
files suit against the City and/or the WEDC, or an Event of Default under the terms of this
Agreement occurs.
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X. Miscellaneous.
a. This Agreement shall inure to the benefit of the parties hereto and shall not be assignable
by Company without the prior written consent of the WEDC, which consent may be
withheld by the WEDC in its sole and absolute discretion.
b. This Agreement shall be construed according to the laws of the State of Texas and is
subject to all provisions of Vernon's Ann. Civ. St. Art. 5190.6, which are incorporated
herein by reference for all purposes. In the event any provision of the Agreement is in
conflict with article 5190.6, article 5190.6 shall prevail.
c. This Agreement contains the entire agreement of the parties regarding the within subject
matter and may only be amended or revoked by the written agreement executed by all of
the parties hereto.
d. This Agreement shall be governed by the laws of the State of Texas and is specifically
performable in Collin County,Texas.
e. Any notice required or permitted to be given under this agreement shall be deemed
delivered by depositing the same in the United States mail, certified with return receipt
requested,postage prepaid, addressed to the appropriate party at the following addresses,
or at such other address as any part hereto might specify in writing:
WEDC: Samuel D. R. Satterwhite
Executive Director
Wylie Economic Development Corporation
250 South Highway 78
Wylie, Texas 75098
COMPANY: All State Fire Equipment,Inc.
3902 Melcer Drive, Suite 201
Rowlett,TX 75088
Attention: Yvonne Damon
By the execution hereof, each signatory hereto represents and affirms that he is acting on behalf of
the party indicated, that such party has taken all action necessary to authorize the execution and
delivery of the Agreement and that the same is a binding obligation on such party.
EX 11 l.Wl. this 7 day of-Oeteber, 2014.
ti-4,1tAihta
WEDC:
Wylie Economic Development Corporation
Samuel D.R. Satterwhite,Executive Director
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COMPANY:
All Stat Fir Equip, ent, nc.
v rme Darrion, kesident
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Wylie Economic Development Corporation
MEMORANDUM
TO: WEDC Board of Directors
FROM: Samuel Satterwhite, Executive Di rector
SUBJECT: Texas Dirt Contractors
DATE: February 21, 2017
Issue
Consider and act upon the awarding of a bid to Texas Dirt Contractors for the completion of
Sellers Work as identified in the Purchase and Sale Agreement by and between Wylie Economic
Development Corporation and Chick-Fil-A, Inc.
Analysis
As required within the Purchase and Sale Agreement between the WEDC and Chick-Fil-A
(CFA), the WEDC is required to construct 2 deceleration lanes, a mutual access drive, and
reconstruct median improvements. As specifically negotiated to offset the cost of an oversized
deceleration lane at Cooper Drive, CFA will pay WEDC $41,000 at closing.
Firms bidding on the job were as follows with their bid amount included:
Tackett Concrete $522,320
Bright Excavation 538,000
Texas Dirt Contractors 475,209
Other firms that were contacted but could not bid based upon current workloads were Tri-Con,
Holly&Holly, MCG Construction, and GT Construction.
A full set of plans has been submitted to the City of Wylie Engineering Department and
approved. Helmberger Associates will provide project management services until construction is
completed.
While Helmberger Associates is familiar with Texas Dirt Contractors work, Mr. Joe Tidwell of
the City Engineering Department has overseen several Texas Dirt projects locally and has
assured staff everything will be done by the book and monitored closely. The Start Date as
identified in the attached Contractor Agreement is March 17, 2017 with the Completion Date
April 28, 2017.
WEDC—Texas Dirt
February 21, 2017
Page 2 of 2
Mr. Randy Hullett is taking the business points within the Contractor Agreement as attached and
placing those terms into a standardized format which Mr. Hullett has indicated more thoroughly
protects WEDC interests.
The Board will note that Draw #1 within the Contractor Agreement of $61,160 is incorrect.
Draw #1 in the amount of$37,400 as reflected in the Exhibit B Draw Schedule is accurate and
will be reference within all Contract Requirements as developed by Randy Hullett.
Recommendation
Staff recommends that the WEDC Board of Directors award a bid for infrastructure
improvements to Texas Dirt Contractors in the amount of $475,209, further authorizing the
WEDC Executive Director to execute all documentation necessary to effectuate subsequent
Contract Requirements as developed by Randy Hullett of Abernathy, Roeder, Boyd, &Hullett.
Attachment
Cover Page—Paving Improvements
Turn and Deceleration Lane Exhibit
Contractors Agreement
Draw Schedule
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Contractor Agreement
This Agreement is made between Wylie Development Corporation, with a principal place of business at 250 S.
Hwy 78, Wylie,TX 75098 (Sam Satterwhite 972-442-7901)("Owner") and TEXAS DIRT CONTRACTORS
("Contractor"), with a principal place pf business at 2800 E. Grauwyler Rd., Irving,TX 75061.
1. Service to Be Performed
Contractor shall furnish all labor and materials to construct and complete the project shown on the
contract documents contained or specified in Exhibit A, which is attached to and made part of this
Agreement.
2. Payment
A. Owner shall pay Contractor for all labor and materials the sum of$475,209.68.
B. Materials shall be paid for by Owner upon delivery to the worksite or as follows: % of
completion/balance on completion
3. Terms of Payment
A. Upon completing Contractor's services under this Agreement, Contractor shall submit an invoice.
Owner shall pay Contractor within 30 days from date of Contractor's invoice.
B. Contractor shall be paid $61,160.00 Draw#1 at Mobilization upon signing this Agreement and the
remaining amount due when Contractor completes the services and submits an invoice. Owner shall
pay Contractor within 30 days from the date of Contractor's invoice.
C. Contractor shall be paid according to the Draw Schedule set forth in Exhibit B, attached to and
made part of this Agreement.
4. Late Fees
If Client is late paying Contractor, Contractor's damages will be difficult to measure. As a reasonable
estimate of the damages Contractor will sustain, and as liquidated damages and not as a penalty, Client
agrees to pay Contractor an additional 1 1/2% per month interest charge on the amount owed.
5. Time of Completion
The work to be performed under this Agreement shall commence on 17MAR2017 and be substantially
completed on or before 28APR2017.
6. Permits and Approvals
Owner shall be responsible for determining which state and local permits are necessary for performing
the specified work and for obtaining and paying for the permits.
7. Warranty
Contractor warrants that all work shall be completed in a good workmanlike manner and in compliance
with all building codes and other applicable laws: Duration of Maintenance Bond
1
8. Site Maintenance
Contractor agrees to be bound by the following conditions when performing the specified work:
• Contractor shall remove all debris and leave the premises in clean condition
• Contractor shall perform the specified work during the following hours: 9AM-3PM lane closure
• Contractor agrees that disruptively loud activities shall be performed only at the following
times: Monday through Saturday 6AM-7PM
• At the end of each day's work, Contractor's equipment shall be stored in the following location:
400 S. Hwy78, Wylie,TX.
9. Subcontractors
Contractor may at its discretion engage subcontractors to perform services under this Agreement, but
Contractor shall remain responsible for proper completion of this Agreement.
10. Independent Contractor Status
Contractor is an Independent Contractor, not Owner's employee. Contractor's employees or
subcontractors are not Owner's employees. Contractor and Owner agree to the following rights
consistent with an Independent Contractor relationship:
• Contractor has the right to perform services for others during the terms of this Agreement.
• Contractor has the sole right to control and direct the means, manner and method by which the
services required by this Agreement will be performed.
• Contractor or Contractor's employees or subcontractors shall perform the services required by
this Agreement.
• Owner shall not hire, supervise or pay any assistants to help Contractor.
• Owner shall not require Contractor or Contractor's employees or subcontractors to devote full
time to performing the services required by this Agreement.
• Neither Contractor nor Contractor's employees or subcontractors are eligible to participate in
any employee pension, health, vacation pay, sick pay or other fringe benefit plan of Owner.
11. Local, State and Federal Taxes
Contractor shall pay all income taxes and FICA (Social Security and Medicare taxes) incurred while
performing services under this Agreement. Owner will not:
• withhold FICA from Contractor's payments or make FICA Payments on Contractor's behalf
• make State or Federal unemployment compensation contributions on Contractor's behalf, or
• withhold State or Federal income tax from Contractor's payments.
The charges included here do not include taxes. If Contractor is required to pay any Federal,
State or Local sales, use, property or value added taxes based on the services provided under
this Agreement, the taxes shall be billed separately to Owner. Owner shall be responsible for
paying any interest or penalties incurred due to late payment or nonpayment of any taxes by
Owner.
2
12. Insurance
Contractor agrees to obtain adequate business liability insurance for injuries to its employees and
others incurring loss or injury as a result of the acts of Contractor or its employees or subcontractors.
13.Terminating the Agreement
A. With reasonable cause, either Owner or Contractor may terminate this Agreement effective
immediately by giving written notice of cause for termination.
B. Either Owner or Contractor may terminate this Agreement at any time by giving N/A days' written
notice of termination. Contractor shall be entitled to full payment for services performed prior to the
date of termination.
Reasonable cause includes:
• Material violation of this Agreement, or
• Nonpayment of Contractor's compensation after 20 days' written demand for payment.
Contractor shall be entitled to full payment for services performed prior to the effective date of
termination.
14. Exclusive Agreement
This writing (including any exhibits) is the entire Agreement between Contractor and Owner. The
exhibits attached to this Agreement are Exhibit "A" and Exhibit "B".
15. Modifying the Agreement
Owner and Contractor recognize that:
• Contractor's original cost and time estimates may be too low due to unforeseen events or to
factors unknown to Contractor when this Agreement was made
• Owner may desire a midproject change in Contractor's services that would add time and cost to
the project and possibly inconvenience Contractor, or
• Other provisions of this Agreement may be difficult to carry out due to unforeseen
circumstances. If any intended changes or any other events beyond the parties; control require
adjustments to this Agreement,the parties shall make a good faith effort to agree on all
necessary particulars. Such Agreements shall be put in writing, signed by the parties, and
added to this Agreement.
16. Resolving Disputes
A. If a dispute arises under this Agreement, any party may take the matter to court.
If any court action is necessary to enforce this Agreement,the prevailing party shall be entitled to
reasonable attorney fees, costs and expenses in addition to any other relief to which the party may be
entitled.
3
B. If a dispute arises under this Agreement, the parties agree to first try to resolve the dispute with
the help of a mutually agreed-upon mediator in Rybiki Law Firm, PLLC. Any costs and fees other than
attorney fees associated with the mediation shall be shared equally by the parties. If the dispute is not
resolved within 30 days after it is referred to the mediator, any party may take the matter to court.
If any court action is necessary to enforce this Agreement,the prevailing party shall be entitled to
reasonable attorney fees, costs and expenses in addition to any other relief to which the party may be
entitled.
C. If a dispute arises under this Agreement, the parties agree to first try to resolve the dispute with
the help of a mutually agreed-upon mediator in Rybiki Law Firm, PLLC. Any costs and fees other than
attorney fees associated with the mediation shall be shared equally by the parties. If it proves
impossible to arrive at a mutually satisfactory solution through mediation, the parties agree to submit
the dispute to a mutually agreed upon arbitrator in Rybiki Law Firm, PLLC. Judgement upon the award
rendered by the arbitrator may be entered in any court having jurisdiction to do so. Costs or
arbitration, including attorney fees, will be allocated by the arbitrator.
17. Notices
All notices and other communications in connection with this Agreement shall be in writing and shall
be considered given as follows:
• when delivered personally to the recipient's address as stated on this Agreement
• three days after being deposited in the United States mail, with postage prepaid to the
recipient's address as stated on this Agreement, or
• when sent by fax or electronic mail, such notice is effective upon receipt provided that a
duplicate copy of the notice is promptly given by first class mail, or the recipient delivers a
written confirmation of receipt.
18. No Partnership
This Agreement does not create a partnership relationship. Neither party has authority to enter into
contracts on the other's behalf.
19.Applicable Law
This Agreement will be governed by the laws of the State of Texas
4
SIGNATURES:
Signature of Owner Date
Printed Name of Owner Title
Signature of Contractor Date
Printed Name of Contractor Title
Taxpayer ID Number: 75-2105410
5
TEXAS DIRT CONTRACTORS
PO Box 36348 Dallas, TX 75235
0: 972-579-0081 F: 972-579-0082
office@texasdirt.biz
TO: Wylie Economic Development
Hwy 78 Left Turn Lanes& Deceleration Lanes Improvements
RE: EXHIBIT B-DRAW SCHEDULE
DRAW#1: In the amount of$37,400.00 to be paid upon substantial completion for
Mobilization & General Conditions per Contract
DRAW#2: In the amount of$189,049.68 to be paid upon substantial completion of
concrete removal, excavation, utilities and staking
DRAW#3: In the amount of$248,760.00 to be paid upon substantial completion of
Asphalt, concrete paving, backfill and clean-up
TOTAL: Draw#1, #2,#3 $475,209.68
Wylie Economic Development Corporation
MEMORANDUM
TO: WEDC Board of Directors
FROM: Samuel Satterwhite, Executive Director
SUBJECT: McMillan Contract
DATE: February 20, 2017
Issue
Consider and act upon the ratification and approval of a Real Estate Sales Contract between Patsy
Jo McMillan, Margaret McMillan, and the WEDC.
Analysis
As directed by the Board in Executive Session, staff executed a Real Estate Contract to purchase
0.26 acres from the McMillan family located near the northwest corner of Jackson and Oak. The
negotiated purchase price is $75,000.
The property can be used to either compliment an adjacent City-owned parking lot or be used
independently for commercial development.
Outside the terms of the attached Contract, staff is working with the McMillan family to have the
existing home demolished prior to the WEDC taking ownership. This approach will be beneficial
to the WEDC in that staff will not have to oversee a contractor or be liable for any issues which
may arise out of the demolition process.
Staff will bring an amendment to the Contract for Board approval in March detailing the terms of
the proposed change which is well within the 120-day due diligence period.
Recommendation
Staff recommends that the WEDC Board of Directors ratify and approve a Real Estate Sales
Contract between Patsy Joe McMillan, Margaret McMillan, and the WEDC.
Attachments
Real Estate Sales Contract
Survey
REAL ESTATE SALES CONTRACT
STATE OF TEXAS
COUNTY OF COLLIN
THIS REAL ESTATE SALES CONTRACT (this "Contract") is made by and between
PATSY JO MCMILLAN and MARGARET MCMILLAN, 105 N. Jackson, P.O. Box 1,
Wylie, Texas 75098 ("Seller"), and WYLIE ECONOMIC DEVELOPMENT
CORPORATION, 250 South Highway 78, Wylie, Texas 75098 ("Purchaser"), upon the terms
and conditions set forth herein.
ARTICLE I
1.01. Seller hereby sells and agrees to convey by Special Warranty Deed (the "Deed"),
and Purchaser hereby purchases and agrees to pay for, that certain real estate, and any
improvements located thereon, being approximately 0.257 acre, more or less, of property located
at 105 N. Jackson Street, Wylie, Texas, or more specifically identified as Keller's Addition#1,
Block 2, Lot 3 and the North one-half of Lot 4, City of Wylie, Collin County, Texas, which
property is generally described in the attached as Exhibit A(the "Property").
Seller also sells and agrees to convey, and Purchaser hereby agrees to pay for, all and
singular, the rights and appurtenances pertaining to the property, including any right, title and
interest of Seller in and to adjacent streets, roads, alleys or rights-of-way, and including all rights
to all oil, gas and other minerals, together with any improvements, fixtures, and personal
property (notwithstanding the terms outlined in Section 8.02 d) situated on and attached to the
property (all of such real property, rights, and appurtenances being hereinafter collectively
1
referred to as the "Property"), for the consideration and upon the terms and conditions hereinafter
set forth.
ARTICLE II
PURCHASE PRICE
Amount of Purchase Price
2.01. The purchase price for the Property shall be SEVENTY-FIVE THOUSAND
AND NO/100THS DOLLARS ($75,000.00) for the gross area as determined by the survey as
referenced in Section 3.03.
Payment of Purchase Price
2.02. The Purchase Price shall be payable per the following: Purchaser will pay all
cash at closing.
ARTICLE III
CONDITIONS TO CLOSING
Conditions to Purchaser's Obligations
3.01. The obligation of Purchaser hereunder to consummate the transaction
contemplated hereby is subject to the satisfaction of each of the following conditions (any of
which may be waived in whole or in part by Purchaser at or prior to the Closing).
Preliminary Title Commitment
3.02. Within twenty (20) business days after the Effective Date of this Contract, Seller,
at Seller's sole cost and expense, shall have caused Lawyers Title (D. Baron Cook, Escrow
Officer), 250 South Highway 78, Wylie, Texas 75098 (the "Title Company") to issue a
preliminary title commitment (the "Title Commitment"), accompanied by true, correct and
legible copies of all recorded documents relating to easements, rights-of-way, and any
2
instruments referred to in the Title Commitment as constituting exceptions or restrictions upon
the title of Seller(the"Title Documents").
Survey
3.03. Within twenty (20) business days after the execution of this Contract, Seller shall,
at Purchaser's sole cost and expense, obtain a current plat of survey ("Survey") of the Property,
prepared by a duly licensed Texas land surveyor. The Survey shall be in a form acceptable to the
Title Company in order to allow the Title Company to delete the survey exception (except as to
"shortages in area") from the Owner's Title Policy to be issued by the Title Company. The
Survey shall be staked on the ground, and the Survey shall show the location of all
improvements, highways, streets, roads, railroads, rivers, creeks, or other water courses, fences,
flood plain as defined by the Federal Insurance Administration, easements, and rights-of-way on
or adjacent to the Property and shall set forth the number of total gross square feet comprising
the Property.
Review Period
3.04. Purchaser shall have ten (10) days (the"Review Period") after Purchaser's receipt
of the Iaer of the Survey,the Title Commitment and the Title Documents to review the same and
deliver in writing to Seller such objections as Purchaser may have to anything contained in them
(the "Objection Notice"). In the event Purchaser states that any of the Survey, Title
Commitment, Title Documents or any item therein contained, is not satisfactory, Purchaser may
either: (a) terminate this Contract and have the Escrow Deposit forthwith returned to Purchaser;
or (b) conditionally accept title subject to Seller's removal of any matters contained in such
Objection Notice within ten (10) days from receipt of such Objection Notice (the "Title Cure
Period"), in which case Seller may elect, at its sole option, to use commercially reasonable
3
efforts to remove or insure over such objectionable matters, but shall have no duty or obligation
to remove or insure over any of such objectionable matters. If Seller cannot remove or insure
over such matters before the expiration of the Title Cure Period, or if Seller elects not to remove
or insure over any of Purchaser's objections, then at Purchaser's election within five (5) days
following the expiration of the Title Cure Period, Purchaser may terminate this Contract and
have the Escrow Deposit forthwith returned to Purchaser. Failure by Purchaser to terminate this
Contract on or before five (5) days after the expiration of the Title Cure Period shall be deemed
to be a waiver of all then uncured title objections which shall become Permitted Exceptions (as
hereinafter defined). Purchaser hereby agrees that the lien for current taxes, and any items not
objected to timely by Purchaser shall hereinafter be deemed to be permitted exceptions (the
"Permitted Exceptions") and Purchaser shall not be entitled to object to the status of title, the
Survey or avoid the Closing because of such Permitted Exceptions.
Feasibility Period
3.05. Purchaser shall have one-hundred twenty (120) days from execution of the
Contract by Seller and acceptance of the same by the Title Company, within which to inspect the
Property and determine if the same is suitable for Purchaser's intended use (the "Feasibility
Period"). In the event Purchaser notifies Seller in writing on or before 5:00 p.m. on the last day
of the Feasibility Period that Purchaser disapproves or is dissatisfied in any way with the
Property, such determination to be made in Purchaser's sole and absolute discretion, then this
Contract shall terminate and the Escrow Deposit (as defined in Section 6.01 below) heretofore
delivered by Purchaser to Title Company shall be returned to Purchaser; provided however, that
$1,000.00 of the Escrow Deposit paid to Seller as Independent Consideration (as defined in
Section 6.01 below) shall not be returned to Purchaser. In the event Purchaser fails to so notify
4
Seller in writing prior to the expiration of the Feasibility Period of Purchaser's election to
terminate this Contract, this Contract shall continue in full force and effect. Seller hereby grants
to Purchaser during the Feasibility Period the right to enter upon the Property and conduct such
tests as Purchaser deems necessary; provided that Purchaser shall indemnify, defend, and
hold harmless Seller from all claims, actions or causes of action which might occur by
virtue of Purchaser's entry upon or testing of the Property and provided further that
Purchaser shall be responsible for all damages occasioned to the Property arising out of
Purchaser's entry upon or testing of the Property. These obligations will survive the
Closing or the cancellation or termination of this Agreement. Notwithstanding the delivery
of the above described studies and test, if any, Purchaser acknowledges that any information of
any type which Purchaser has received or may receive from Seller, or its agents, is furnished to
Purchaser as a courtesy only and on the express condition that Purchaser shall make an
independent verification of the accuracy of such information, all such information is being
furnished without any representation or warranty by Seller as to the truth, accuracy, or
completeness of such information.
Environmental Study
3.06. This Contract is contingent upon the Purchaser obtaining an environmental report,
at the expense of Purchaser, that indicates no environmental problems with the Property, and is
otherwise acceptable to the Purchaser. In the event an acceptable environmental report is not
obtained by the Purchaser as provided herein, the Purchaser shall have the right to terminate this
Contract prior to expiration of the Feasibility Period by written notice to the Seller and the
Escrow Deposit shall be returned by the Title Company to the Purchaser.
5
ARTICLE IV
CLOSING
4.01. The closing of the purchase and sale of the Property ("Closing") shall be at the
offices of the Title Company, on or before five (5) days following the expiration of the
Feasibility Period of this Contract (the date of Closing being herein referred to as the "Closing
Date").
4.02. At the Closing, Seller shall:
(a) Deliver to Purchaser a duly executed and acknowledged Special Warranty
Deed conveying good and indefeasible title in fee simple to all of the Property,
free and clear of any and all liens, encumbrances, conditions, easements,
assessments, and restrictions, except for the following:
(1) General real estate taxes for the year of closing and subsequent
years not yet due and payable;
(2) The Permitted Exceptions; and
(3) Any other exceptions approved by Purchaser pursuant to this
Contract or in writing.
(b) Deliver to Purchaser, at Seller's sole cost and expense, a Texas Owner's
Title Policy issued by the Title Company, in Purchaser's favor in the full amount
of the Purchase Price, insuring Purchaser's fee simple title to the Property, subject
only to those title exceptions listed in this Contract (including the Permitted
Exceptions), such other exceptions as may be approved in writing by Purchaser,
and the standard printed exceptions contained in the usual form of Texas Owner's
6
Title Policy, and containing a survey exception deletion,if requested by Purchaser
and at the expense of the Purchaser, except as to shortages in area.
(c) Deliver to Purchaser possession of the Property free from personal
belongings.
(d) Deliver to Purchaser any and all leases in Purchaser's possession.
4.03. At the Closing, Purchaser shall:
(a) Deliver to Seller the Purchase Price by cashier's check, wire transfer or
otherwise in immediately available funds.
(b) Deliver to Seller a certified resolution of the board of directors of
Purchaser, which resolution will be in full force and effect, approving this
transaction and designating the person or persons authorized to sign documents on
behalf of Purchaser.
(c) Deliver to Seller and/or the Title Company such other documents as may
be reasonably necessary or appropriate to consummate this transaction in
accordance with the terms of this Contract.
4.04. All state, county, and municipal taxes for the then current year relating to the
Property shall be calculated as of the Closing Date and Seller's share shall be collected by Title
Company at the Closing and remitted to the appropriate taxing jurisdictions in accordance with
Section 26.11 of the Texas Property Tax Code. If there is any rollback tax liability for the Real
Property,the Seller will assume the responsibility for those taxes.
NOTICE REGARDING POSSIBLE LIABILITY FOR ADDITIONAL TAXES
If for the current ad valorem tax year the taxable value of the Property that is the subject of this
Contract is determined by a special appraisal method that allows for appraisal of the Property at
7
less than its market value, Purchaser may not be allowed to qualify the Property for that special
appraisal in a subsequent tax year and the Property may then be appraised at its full market
value. In addition, the transfer of the Property or a subsequent change in the use of the Property
may result in the imposition of an additional tax plus interest as a penalty for the transfer or the
change in the use of the Property. The taxable value of the Property and the applicable method
of appraisal for the current tax year is public information and may be obtained from the tax
appraisal district established for the county in which the Property is located.
4.05. Each party shall pay any attorney's fees incurred by such party. All other costs
and expenses of closing the sale and purchase shall be borne and paid as provided in this
Contract, or if the Contract is silent, as is usual and customary for real estate transactions in
Collin County, Texas.
ARTICLE V
REAL ESTATE COMMISSIONS
5.01. In the event a broker commission is occasioned by the consummation of this
Contract,the party retaining such broker shall be responsible for all real estate commissions with
respect to that broker.
ARTICLE VI
ESCROW DEPOSIT
6.01. Within three (3) business days following the full execution of this Contract and
for the purpose of securing the performance of Purchaser under the terms and provisions of this
Contract, Purchaser shall deliver to the Title Company, a check in the amount of$5,000.00 as an
escrow deposit (the "Escrow Deposit") which shall apply toward the Purchase Price at Closing.
Purchaser agrees that $100.00 of the Escrow Deposit is given as consideration for the Contract
8
("Independent Consideration"), which Independent Consideration shall be applied to the
Purchase Price at Closing, but shall not be returned to Purchaser in the event the Escrow Deposit
is otherwise returned to Purchaser pursuant to the terms of this Contract. In the event Purchaser
fails to timely deliver the Escrow Deposit to the Title Company,this Contract shall automatically
terminate and be of no further force or effect and Seller shall be relieved from all liabilities or
obligations hereunder.
ARTICLE VII
CASUALTY
7.01. All risks of loss to the Property shall remain upon Seller prior to the Closing,
subject to the provisions of Section 3.06 of this Contract. If a casualty occurs, Seller may, but
shall not be obligated to, restore the Property to its condition immediately prior to the casualty,
and if it does not so restore the Property, then Purchaser may accept the Property in its damaged
condition without reduction in the Purchase Price or terminate this Contract.
ARTICLE VIII
REPRESENTATIONS
8.01. As a material inducement to the Purchaser to execute and perform its obligations
under this Contract, the Seller hereby represents and warrants to the Purchaser as of the date of
execution of this Contract and through the date of the Closing as follows:
(a) Seller is the owner in fee simple of the Property subject to the Permitted
Exceptions. The Property is not subject to any lease or other agreement that creates a right of
ownership or possession to a third;
(b) To Seller's current actual knowledge, there are no actions, suits, or proceedings
(including condemnation) pending or threatened against the Property, at law or in equity or
9
before any federal, state, municipal, or other government agency or instrumentality, domestic or
foreign;
(c) The Property is not in a water district;
(d) To the current actual knowledge of Seller, no part of the Property has been used
for or as a landfill or toxic waste site or is in a wetland protected area or FEMA flood plain as
currently defined by federal law;
(e) No consent or approval of any other person or entity is required in order for this
Contract to be legal, valid and binding upon Seller except for any lender consent that will be
obtained by Seller at or prior to Closing;
(f) The execution and delivery of this Contract and the consummation of this
transaction shall not constitute a violation,breach or default by Seller of any term or provision of
any other instrument of which Seller is a party or to which Seller or the Property may be subject
except that this transaction will require the consent of Seller's lender and a release of lien which
Seller will obtain at or prior to Closing;
(g) Seller is not the subject of any bankruptcy, reorganization or insolvency
proceeding.
EXCEPT AS EXPRESSLY PROVIDED HEREIN, IT IS UNDERSTOOD AND AGREED
THAT SELLER IS NOT MAKING ANY WARRANTIES OR REPRESENTATIONS OF ANY
KIND OR CHARACTER, EXPRESS OR IMPLIED, WITH RESPECT TO THE PROPERTY,
INCLUDING, BUT NOT LIMITED TO, WARRANTIES OR REPRESENTATIONS AS TO
MATTERS OF TITLE (OTHER THAN SELLER'S WARRANTY OF TITLE SET FORTH IN
THE SPECIAL WARRANTY DEED TO BE DELIVERED AT CLOSING), ZONING, TAX
CONSEQUENCES, PHYSICAL OR ENVIRONMENTAL CONDITION, OPERATING
HISTORY OR PROJECTIONS, VALUATION, GOVERNMENTAL APPROVALS,
GOVERNMENTAL REGULATIONS OR ANY OTHER MATTER OR THING RELATING
TO OR AFFECTING THE PROPERTY. PURCHASER AGREES THAT WITH RESPECT TO
THE PROPERTY, PURCHASER HAS NOT RELIED UPON AND WILL NOT RELY UPON,
EITHER DIRECTLY OR INDIRECTLY, ANY REPRESENTATION OR WARRANTY OF
SELLER OR SELLER'S REPRESENTATIVES. PURCHASER WILL CONDUCT SUCH
INSPECTIONS AND INVESTIGATIONS OF THE PROPERTY, INCLUDING, BUT NOT
10
LIMITED TO, THE PHYSICAL AND ENVIRONMENTAL CONDITIONS THEREOF, AND
RELY UPON SAME, AND, UPON CLOSING, SHALL ASSUME THE RISK THAT
ADVERSE MATTERS, INCLUDING,BUT NOT LIMITED TO, ADVERSE PHYSICAL AND
ENVIRONMENTAL CONDITIONS, MAY NOT HAVE BEEN REVEALED BY
PURCHASER'S INSPECTIONS AND INVESTIGATIONS. PURCHASER AGREES TO
TAKE WHATEVER ACTION AND PERFORM WHATEVER INVESTIGATIONS AND
STUDIES PURCHASER DEEMS NECESSARY TO SATISFY ITSELF AS TO THE
CONDITION OF THE PROPERTY AND THE EXISTENCE OR NONEXISTENCE OF, OR
CURATIVE ACTION TO BE TAKEN WITH RESPECT TO, ANY HAZARDOUS AND/OR
TOXIC SUBSTANCES ON OR DISCHARGED FROM THE PROPERTY. PURCHASER
ACKNOWLEDGES AND AGREES THAT UPON CLOSING SELLER SHALL SELL AND
CONVEY TO PURCHASER AND PURCHASER SHALL ACCEPT THE PROPERTY"AS IS,
WHERE IS", WITH ALL FAULTS AND THERE ARE NO ORAL OR WRITTEN
AGREEMENTS, WARRANTIES OR REPRESENTATIONS, COLLATERAL TO OR
AFFECTING THE PROPERTY BY SELLER OR ANY THIRD PARTY. FURTHER,
PURCHASER HEREBY ACKNOWLEDGES TO SELLER THAT PURCHASER AND
SELLER ARE NOT IN A SIGNIFICANTLY DISPARATE BARGAINING POSITION. THE
TERMS AND CONDITIONS OF THIS PARAGRAPH SHALL EXPRESSLY SURVIVE THE
CLOSING AND SHALL NOT BE MERGED THEREIN.
8.02 As a material inducement to the Seller to execute and perform its obligations
under this Contract, the Purchaser hereby represents and warrants to the Seller as of the date of
execution of this Contract and through the date of the Closing as follows:
(a) Purchaser is a corporation duly organized, validly existing and in good standing
under the laws of the State of Texas and has all the requisite power and authority to enter into,
deliver and perform this Contract;
(b) No consent or approval of any other person or entity is required in order for this
Contract to be legal, valid and binding upon Purchaser; and the execution and delivery of this
Contract and the consummation of this transaction shall not constitute a violation, breach or
default by Purchaser of any term or provision of any other instrument of which Purchaser is a
party or to which Purchaser may be subject;
(c) To Purchaser's current actual knowledge,there are no actions, suits, or proceedings
pending or threatened against the Purchaser, at law or in equity or before any federal, state,
11
municipal, or other government agency or instrumentality, domestic or foreign, and Purchaser
has received no written notice of same. The Purchaser is not involved in any bankruptcy,
reorganization or insolvency proceeding.
(d) Within the Feasibility Period, Purchaser authorizes Seller to remove any and all
fixtures and personal property situated on and attached to the Property, including but not limited
to any and all building materials within the structure(s), so long as the removal of said materials
does not compromise the exterior walls of said structure(s) and promote unauthorized access to
the structure(s) interior.
ARTICLE IX
BREACH BY SELLER
9.01. In the event Seller shall fail to fully and timely perform any of its obligations
hereunder or shall fail to consummate the sale of the Property for any reason, except Purchaser's
default, or pursuant to a right of termination expressly granted hereunder, Purchaser may
terminate this Contract and obtain the return of the Escrow Deposit as liquidated damages or
pursue specific performance, as its sole and exclusive remedies.
ARTICLE X
BREACH BY PURCHASER
10.01. In the event Purchaser should fail to consummate the purchase of the Property, the
conditions to Purchaser's obligations set forth in this Contract having been satisfied, and
Purchaser being in default and Seller not being in default hereunder, Seller may either (i)
terminate this Contract and receive the Escrow Deposit as liquidated damages, or (ii) obtain
specific performance, as its sole and exclusive remedies.
ARTICLE XI
12
MISCELLANEOUS
Survival of Covenants
(a) Any of the representations, warranties, covenants and agreements of the parties,
as well as any rights and benefits of the parties, shall survive the Closing for a period of one (1)
year (or such longer period of time as may be expressly contemplated by this Contract in the
specific instance) and shall not be merged therein.
Notice
(b) Any notice required or permitted to be delivered hereunder shall be deemed
received when sent by United States mail, postage prepaid, certified mail, return receipt
requested, addressed to the Seller or the Purchaser, as the case may be, at the address set forth
herein above.
Texas_Law to Apply
(c) This Contract shall be construed under and in accordance with the laws of the
State of Texas, and all obligations of the parties created hereunder are performable in Collin
County, Texas.
Parties Bound
(d) This Contract shall be binding upon and inure to the benefit of the parties hereto
and their respective heirs, executors, administrators, legal representatives, successors and
assigns. This Contract is not assignable by the Purchaser without the written consent of the
Seller.
Nondisclosure
(e) Neither party shall disclose to any person or entity (other than that party's
advisors or as may be required by law) the terms of this Agreement or the identity of the parties
13
and shall not issue any press or other informational releases without the express written consent
of each party.
Legal Construction
(f) In case any one or more of the provisions contained in this Contract shall for any
reason be held to be invalid,illegal, or unenforceable in any respect, such invalidity, illegality, or
unenforceability shall not affect any other provision hereof, and this Contract shall be construed
as if such invalid, illegal, or unenforceable provision had never been contained herein.
Integration
(g) This Contract constitutes the sole and only agreement of the parties hereto and
supersedes any prior understanding or written or oral agreements between the parties respecting
the within subject matter. This Contract cannot be modified or changed except by the written
consent of all the parties.
Time of Essence
(h) Time is of the essence of this Contract.
Attorney's Fees
(i) Any party to this Contract which is the prevailing party in any legal proceeding
against any other party to this Contract brought under or with relation to this Contract or
transaction shall be additionally entitled to recover court costs and reasonable attorneys' fees
from the non-prevailing party.
Gender and
Number
(j) Words of any gender used in this Contract shall be held and construed to include
any other gender, and words in the singular number shall be held to include the plural, and vice
versa,unless the context requires otherwise.
14
Compliance
(lc) In accordance with the requirements of Section 28 of the Texas Real Estate
License Act, Purchaser is hereby advised that it should be furnished with or obtains a policy of
title insurance.
Effective Date of Contract
(1) The term "effective date of this Contract" as used herein shall mean the later of
the two (2) dates on which this Contract is fully signed by Seller or Purchaser, as indicated by
their signatures below, which later date shall be the date of final execution and agreement by the
parties.
[SIGNATURE PAGE TO FOLLOW]
15
Executed on the dates set forth at the signatures of the parties hereto.
SELLERS:
PATSY JO MCMILLAN
By: .._.._ .....�. -� �.
Date of ... .. .
Execut"° .. �..� Lam..__.. ..
MARGARET MCMILLAN
By: ...�
Date of Executic T __
PURCHASER:
WYLIE ECONOMIC DEVELOPMENT
CORPORATION
By:
Its: ole.......0*t`e..
Date of Execution: I -('7
TITLE COMPANY ACCEPTANCE:
The Title Company acknowledges receipt of the Earnest Money on
and accepts the Earnest Money subject to the terms and conditions set forth in this Contract.
TITLE COMPANY:
LAWYERS TITLE
BY:
PRINTED NAME: _... _____....... .. _.
TITLE:
ADDRESS:
Telephone Fax
16
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performed under my supervision during the month of January, 2077; the I Lawyers Title .-
visible Improvements on the ground are as shown on the survey; there are no visible Intrusions, protrusions, overlapping of Improvements or conflicts
found except as shown on the survey plat. .
January 31, 2017 t Or Ff - 1 G.F.# 19/13502873 (R r 1
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- Matthew Busby
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Wylie Economic Development Corporation
MEMORANDUM
TO: WEDC Board of Directors
FROM: Samuel Satterwhite, Executive:iirector , 7
SUBJECT: Staff Report
DATE: February 20, 2017
Issue
Staff report: review issues surrounding WEDC Performance Agreement Summary,
Environmental Activity Summary, WEDC Financial Audit, Wylie Days, Collin County Days,
Highway 78 WEDC Pad Sites, Promotional Activities, and regional housing starts.
Analysis
As a reminder to Board members, the Board may not discuss an item which is not specifically
identified on the agenda. Only those items listed above can be discussed. Should any Board
member want an issue be placed on the agenda at any time prior to a Board meeting,please contact
the WEDC President or staff.
WEDC Performance Agreement Summary
Attached for the Board's review is a summary of all outstanding Performance Agreements
including: ACG Texas LP, Ascend Custom Extrusion, All State Fire Equipment, B&B Theatres
Operating Company,Clark Street Development,Dank Real Estate,Exco Extrusion Dies,Freudiger
Holdings, Getset,KREA Acquisition,Mil-Tib,McClure Partners,Patna Properties,Ronald P. and
Carole A. Trout, T.W. Snider, VIAA Properties, Von Runnen Holdings, Wedge Corporation,
Woodbridge Crossing.
Woodbridge Crossing
Attached for the Board's review is the Sales Tax Reimbursement Report which identifies all sales
taxes received through January 2017 within Woodbridge Crossing for the City General Fund, the
WEDC,and the 4B. As a reminder,the City and WEDC reimbursed 85%of all sales tax generated
within Woodbridge Crossing through September 2013 with the reimbursement percentage reduced
to 65%thereafter. Due to the default under the Amended and Restated Performance Agreement,
Woodbridge Crossing is only eligible to receive up to $6 million in sales tax reimbursement
through September 2021 as opposed to the maximum reimbursement of$12 million originally
contemplated.
WEDC- Staff Report
February 20, 2017
Page 2 of 3
$4,032,045.23 in reimbursement has been earned through January 2017 with net receipts of
$3,260,088.03 after reimbursements. As well, it is estimated that $4.1 mm has been paid in ad
valorem taxes to the City of Wylie (excluding the WISD). As shown on the Sales Tax
Reimbursement Report, $142,917.21 was generated in sales tax in November 2016 versus
$126,607.23 in November 2015. This represents 12.9% increase over 2015 receipts.
Environmental Activity Report
Attached for the Board's review is a spreadsheet tracking all activities with W&M Environmental
for FY 2014-15 and FY 2015-16. W&M has prepared Phase I&II reports for Mann Made,K&M,
Business Way, 111 N. Ballard, 908 Kirby,201 Industrial Court,is processing the VCP application
for the Commerce property, and processing the Municipal Setting Designation through the City.
WEDC Financial Audit
Excerpts from the Comprehensive Annual Financial Report have been provided for Board review.
Staff has only included excerpts due to the report being 136 pages. All references to the WEDC
have been highlighted. As well,Mrs. Melissa Beard,Assistant Finance Director,has been invited
to the WEDC Board Meeting to review the Audit and WEDC financials.
Wylie Days
On February 8-9, representatives from the City Council, WISD Board of Trustees, City & ISD
staff, Chamber of Commerce, WEDC Board & staff, and Oncor traveled to Austin to meet with
State legislators and address issues of local interest up for consideration this Session. As this event
evolves, a greater effort will be made to encourage concerned citizens outside of the above
identified entities to attend and display a broad range of interest in the decisions made by our local
elected officials in Austin.
Collin County Days
On March 28 — 29, a larger `Collin County' contingency will travel to Austin to accomplish the
same goals as the Wylie event but from a County perspective. A much smaller group from the
WEDC, Chamber, and WISD will attend with Council having a previously scheduled Council
Meeting.
Highway 78 WEDC Pad Sites
Ground water samples are currently being taken from WEDC property with results expected on 2-
23-17. With soil samples already in hand,the VCP application should be prepared and sent to the
TCEQ the week of 2-27. Assuming the application is complete,the TCEQ will issue a case number
within 60 days of receipt and at that time the site officially becomes enrolled in the VCP.
WEDC- Staff Report
February 20, 2017
Page 3 of 3
Promotional Activities
To facilitate networking with community stake holders and prospects,the WEDC has a'A interest
in Maverick's Season tickets for the 2016-17 Season. The use of those tickets is detailed for your
review.
Regional Housing Starts
Fifteen homes were permitted in Wylie for the month of January 2017, Sachse, Lavon, Murphy
permitted a combined nineteen with Inspiration permitting ten over the same period.
No action is requested by staff for this item.
Attachments
Performance Agreement Summary
W&M Activity Report
Promotional Events Log
Regional Housing Permits
Audit Excerpts
Outstanding Performance Agreement Summary
Company Performance Obligations Expiration Incentive Comment/Notes
ACG Texas LP(IHOP) A. CO on 4,525 sf commercial building at a cost of
$1,100,000; receipts for$35,000 on Qualified
Infrastructure. 12/31/2017 $35,000
Ascend Custom Extrusion
A. CO on 21,000 sf expansion; documentation of
minimum cost of$1,000,000 2/1/2014 $49,871 ! Paid
B. Documentation of 3rd extrusion press w/
purchase price of$4,500,000 2/1/2015 $24,000 Paid
C. Documentation of 3rd extrusion press w/
purchase price of$4,500,000 2/1/2016 $24,000 Paid
D. Documentation of 3rd extrusion press w/
purchase price of$4,500,000 2/1/2017 $24,000
All State Fire Equipment A. CO 9,300 sf office/warehouse; construction
documents for$788,000 4/15/2016' $20,000 Paid
B. Valuation of$1,100,000 8/1/2017 $20,000
C. Valuation of$900,000 8/1/2018 $20,000
B&B Theatres Phase I -CO 56,000 sf, 12 screen theater;
documentation of$600,000; documentation of
total expend.for land, improvements and personal
property of$10,000,000. 12/31/2013 $100,000 Paid
Cumulative valuation amended to $7,300,000 12/31/2014 $25,000 Paid
12/31/2015 $25,000 Paid
12/31/2016 $25,000 Paid
12/31/2017 $25,000
12/31/2018 $25,000
Total Incentive not to
B&B Theatres Sales Tax Reimb. Qrtly Sales Tax Reimbursement equal to .005 12-18 Annually exceed $600,000
CSD Woodbridge Phase I -Acquire property for 110,000 sf Kroger by
7/31/2016; CO by 3/31/2014 3/31/2014 $100,000 Paid
Outstanding Performance Agreement Summary
Phase II -CO for 120,600 sf retail space Sales tax
(completed) 3/31/2014 reimburse quarterly
Phase III -CO for 127,600 sf retail space Sales tax
(completed) 3/31/2017 reimburse quarterly
Phase IV-CO for 134,600 sf retail space Sales tax Cumulative incentive not
(completed) 3/31/2019 reimburse to exceed $1.1 mm
A. CO on 5,300 sf building, documentation of
Dank Real Estate(Deanan Popcorn) $600,000 construction cost 2/1/2015 $15,000 Paid
B. Documentation of$1,150,000 property value 2/1/2016 $7,500 Paid
C. Documentation of$1,150,000 property value 2/1/2017 $7,500
Exco Extrusion Dies(Texas), Inc.. A. CO on 30,000 sf building 2/24/2016 $87,000 Paid
B. On an annual basis maintain appraised value of
$7.55 mm, maintain Texas as principal place of
business, employ 20 full time employees 2/24/2017 $20,000 Paid
2/24/2018 $20,000
2/24/2019
$20,000
2/24/2020 $20,000
Seller financing on $350,000 note,forgiven
annually beginning 1-31-17 in equal amounts of
$70,000 2017-2021 $350,000
Freudiger Holdings, LLC CO and Documentation supporting 5,500 sf office
space and 1,800 warehouse space at a cost of
$250,000 5/1/2016 $15,000 Paid
Form 941 evidencing a mimimum of 75 employees
employed not less than 90 days prior to CO. 5/1/2016 $25,000 Paid
10 Full time Employees,over and above the base
Employment evidenced by Form 941. 5/1/2017 $30,000
Outstanding Performance Agreement Summary
Get Set, Inc. CO for 6,700 sf building and documentation of
$575,000 in construction cost. 5/1/2015 $15,000 Paid
Appraised Value of$1,175,000 2/28/2017 $10,000
Appraised Value of$1,175,000 2/28/2018 $10,000
KREA Acquisition, LLC A. Acquire property by 9/1/15; CO for La Quinta
Inn &Suites by 3/31/17; confirm $600,000 in
construction costs 3/31/2017 $100,000
B. Quarterly incentive payment equal to
Occupancy Tax paid to City of Wylie (start date 6
months from CO and ending 7 years from 1st Not to exceed $600,000
payment) 9/31/18', total incentive
Mil-Tib GP A. Demolition of 14,344 square foot facility
located at 209 S. Ballard at a cost of$76,500
confirmed via visual inspection byWEDC;
documentation evidencing demolition costs of
$76,500;verification current status on ad valorem
taxes on property. 7/1/2017 $38,250
McClure Partners Devel. Co., LLC A. Purchase of Williford Tracts by 10/1/16;
Complete demolition of all improvements,
foundations& paving by 12/31/16. Removal of
all debris,vehicles, inventory by 12/31/16. 12/31/2016 $25,000 Paid
B. Complete construction of 6,000 sf commercial
bldg w/Construction costs not less than
$1,350,000. CO not later than 9/30/17. 9/30/2017 $50,000
Patna Properties, Inc. A. CO for 4,283 sf building; documentation of
$700,000 in construction costs 10/1/2016 $20,000 Paid
B. Appraised Value of$707,000 10/1/2017 $10,000
Outstanding Performance Agreement Summary
Ronald P.and Carole A.Trout A. CO for 4,944 sf building; documentation
$340,000 in construction costs; current on ad
valorem taxes; 12/31/2017 $15,000
T.W.Snider A. CO for 4,800 sf building; current on all ad
valorem taxes. 2/1/2017 $8,000
B. Construction plans for 6,000 sf Bldg 3
evidenced by a building permit by March 1, 2017;
CO for Bldg 3 by October 1, 2017; current on all ad
valorem taxes. 10/1/2017 $42,000
VIAA Properties, LLC A. CO for 6,094 sf building; documentation
$1,200,000 in construction costs 2/28/2016 $30,000 Paid
B. Appraised Value of$1,000,000 2/28/2017 $20,000
Von Runnen Holdings A. CO for 12,047 sf building; documentation of
$1,250,000 in construction costs. 1/1/2016 $20,000 Paid
B. Appraised Value of$1,000,000 1/31/2017 $10,000 Paid
C. Appraised Value of$1,000,000 1/31/2018 $10,000
Wedge Corporation A. Documentation of executed Ground Lease,
Building Permit; 1/31/20141 $137,500 Loan Advance #1
B. CO for"The Rock" 12/31/2014 $137,500 Loan Advance #2
C. Evidence of Continuous Operation 12/31/2015 $91,666 Loan Advance Forgiven
D. Evidence of Continuous Operation 12/31/2016 $91,666 Loan Advance Forgiven
E. Evidence of Continuous Operation 12/31/2017 $91,668!
Woodbridge Crossing Phase I. CO for Initial Phase including a Super 65%sales tax reimb 2009-
Target by 8/1/09. 8/1/2009 2013 ; 85%sales tax reimb
No further performance requirements. Default
declared reducing maximum incentive from $12 Reimbursement
mm to$6 mm. 2021 spreadsheet attached
Woodbridge Crossing
Sales Tax Reimbursement Report
Filing Allocation City of 4B WEDC Applicable WEDC City Total
Period Period W lie 1%) (0.5%) (0.5%) Total Rate (%) Reimbursement Reimbursement Reimbursement
Oct-09 Dec-09 $17,612.55 $8,806.27 $8,806.27 $35,225.09 0.85 7,485.33 $14,970.66 $22,455.99
Nov-09 Jan-10 21,995.30 10,997.65 10,997.65 43,990.60 0.85 9,348.00 18,696.01 28,044.01
Dec-09 Feb-10 40,289.26 20,144.63 20,144.63 80,578.52 0.85 17,122.94 34,245.87 51,368.81
Sub-Total 159,794.21 33,956.27 67,912.54 101,868.81
Jan-10 Mar-10 16,017.96 8,008.98 8,008.98 32,035.92 0.85 6,807.63 13,615.27 20,422.90
Feb-10 Apr-10 18,392.59 9,196.29 9,196.29 36,785.17 0.85 7,816.85 15,633.70 23,450.55
Mar-10 May-10 24,382.07 12,191.03 12,191.03 48,764.13 0.85 10,362.38 20,724.76 31,087.13
Sub-Total 117,585.22 24,986.86 49,973.72 74,960.58
Apr-10 Jun-10 16,991.53 8,495.76 8,495.76 33,983.05 0.85 7,221.40 14,442.80 21,664.19
May-10 Jul-10 19,588.24 9,794.12 9,794.12 39,176.48 0.85 8,325.00 16,650.00 24,975.01
Jun-10 Aug-10 24,662.64 12,331.32 12,331.32 49,325.28 0.85 10,481.62 20,963.24 31,444.87
Sub-Total 122,484.81 26,028.02 52,056.04 78,084.07
Jul-10 Sep-10 18,344.56 9,172.28 9,172.28 36,689.12 0.85 7,796.44 15,592.88 23,389.31
Aug-10 Oct-10 20,401.73 10,200.87 10,200.87 40,803.46 0.85 8,670.74 17,341.47 26,012.21
Sep-10 Nov-10 22,301.22 11,150.61 11,150.61 44,602.43 0.85 9,478.02 18,956.03 28,434.05
Sub-Total 122,095.01 25,945.19 51,890.38 77,835.57
Oct-10 Dec-10 18,800.19 9,400.10 9,400.10 37,600.38 0.85 7,990.08 15,980.16 23,970.24
Nov-10 Jan-11 25,735.09 12,867.54 12,867.54 51,470.17 0.85 10,937.41 21,874.82 32,812.23
Dec-10 Feb-11 42,668.92 21,334.46 21,334.46 85,337.83 0.85 18,134.29 36,268.58 54,402.87
Audit Adjust.
Oct-10 5,065.71 2,532.86 2,532.86 10,131.42 0.85 2,152.93 4,305.85 6,458.78
Sub-Total 184,539.80 39,214.71 78,429.42 117,644.12
Jan-11 Mar-11 18,295.33 9,147.66 9,147.66 36,590.65 0.85 7,775.51 15,551.03 23,326.54
Feb-11 Apr-11 25,185.02 12,592.51 12,592.51 50,370.04 0.85 10,703.63 21,407.27 32,110.90
Mar-11 May-11 39,822.31 19,911.15 19,911.15 79,644.61 0.85 16,924.48 33,848.96 50,773.44
Sub-Total 166,605.30 35,403.63 70,807.25 106,210.88
Apr-11 Jun-11 33,456.49 16,728.25 16,728.25 66,912.98 0.85 14,219.01 28,438.02 42,657.02
Woodbridge Crossing
Sales Tax Reimbursement Report
Page 2
Filing Allocation City of 4B WEDC Applicable WEDC City Total
Period Period Wylie (1%) (0.5%) (0.5%) Total Rate (%) Reimbursement Reimbursement Reimbursement
May-11 Jul-11 50,192.64 25,096.32 25,096.32 100,385.28 0.85 21,331.87 42,663.74 63,995.62
Jun-11 Aug-11 43,639.11 21,819.56 21,819.56 87,278.22 0.85 18,546.62 37,093.24 55,639.87
Sub-Total 254,576.48 54,09 7.50 108,195.00 162,292.51
Jul-11 Sep-11 31,551.34 15,775.67 15,775.67 63,102.67 0.85 13,409.32 26,818.63 40,227.95
Aug-11 Oct-11 32,798.19 16,399.09 16,399.09 65,596.37 0.85 13,939.23 27,878.46 41,817.69
Sep-11 Nov-11 36,136.64 18,068.32 18,068.32 72,273.27 0.85 15,358.07 30,716.14 46,074.21
Sub-Total 200,972.31 42,706.62 85,413.23 128,119.85
Oct-11 Dec-11 31,701.68 15,850.84 15,850.84 63,403.35 0.85 13,473.21 26,946.42 40,419.64
Nov-11 Jan-12 40,631.94 20,315.97 20,315.97 81,263.88 0.85 17,268.57 34,537.15 51,805.72
Dec-11 Feb-12 66,403.17 33,201.59 33,201.59 132,806.34 0.85 28,221.35 56,442.69 84,664.04
Sub-Total 277,473.57 58,963.13 117,926.27 176,889.40
Jan-12 Mar-12 28,180.49 14,090.24 14,090.24 56,360.97 0.85 11,976.71 23,953.41 35,930.12
Feb-12 Apr-12 32,824.36 16,412.18 16,412.18 65,648.71 0.85 13,950.35 27,900.70 41,851.05
Mar-12 May-12 42,213.75 21,106.88 21,106.88 84,427.50 0.85 17,940.84 35,881.69 53,822.53
Sub-Total 206,437.18 43,867.90 87,735.80 131,603.70
Apr-12 Jun-12 33,749.69 16,874.85 16,874.85 67,499.38 0.85 14,343.62 28,687.24 43,030.85
May-12 Jul-12 35,756.08 17,878.04 17,878.04 71,512.15 0.85 15,196.33 30,392.66 45,589.00
Jun-12 Aug-12 43,423.09 21,711.55 21,711.55 86,846.18 0.85 18,454.81 36,909.63 55,364.44
Sub-Total 225,857.71 47,994.76 95,989.53 143,984.29
Jul-12 Sep-12 32,945.51 16,472.76 16,472.76 65,891.02 0.85 14,001.84 28,003.68 42,005.53
Aug-12 Oct-12 33,981.49 16,990.74 16,990.74 67,962.97 0.85 14,442.13 28,884.26 43,326.39
Sep-12 Nov-12 39,669.19 19,834.60 19,834.60 79,338.38 0.85 16,859.41 33,718.81 50,578.22
Sub-Total 213,192.37 45,303.38 90,606.76 135,910.14
Oct-12 Dec-12 61,352.09 30,676.05 30,676.05 122,704.18 0.85 26,074.64 52,149.28 78,223.91
Nov-12 Jan-13 13,760.37 6,880.18 6,880.18 27,520.73 0.85 5,848.16 11,696.31 17,544.47
Dec-12 Feb-13 68,951.35 34,475.67 34,475.67 137,902.69 0.85 29,304.32 58,608.64 87,912.96
Sub-Total 288,127.60 61,227.11 122,454.23 183,681.35
Jan-13 Mar-13 37,264.78 18,632.39 18,632.39 74,529.55 0.85 15,837.53 31,675.06 47,512.59
Woodbridge Crossing
Sales Tax Reimbursement Report
Page 3
Filing Allocation City of 4B WEDC Applicable WEDC City Total
Period Period Wylie(1%) (0.5%) (0.5%) Total Rate (%) Reimbursement Reimbursement Reimbursement
Feb-13 Apr-13 32,499.58 16,249.79 16,249.79 64,999.15 0.85 13,812.32 27,624.64 41,436.96
Mar-13 May-13 42,416.25 21,208.13 21,208.13 84,832.50 0.85 18,026.91 36,053.81 54,080.72
Sub-Total 224,361.20 47,676.76 95,353.51 143,030.27
Apr-13 Jun-13 31,950.38 15,975.19 15,975.19 63,900.76 0.85 13,578.91 27,157.82 40,736.73
May-13 Jul-13 35,623.93 17,811.97 17,811.97 71,247.86 0.85 15,140.17 30,280.34 45,420.51
Jun-13 Aug-13 44,805.27 22,402.63 22,402.63 89,610.53 0.85 19,042.24 38,084.48 57,126.71
Sub-Total 224,759.15 47,761.32 95,522.64 143,283.96
Jul-13 Sep-13 30,171.94 15,085.97 15,085.97 60,343.87 0.85 12,823.07 25,646.14 38,469.22
Aug-13 Oct-13 31,615.59 15,807.80 15,807.80 63,231.18 0.85 13,436.63 26,873.25 40,309.88
Sep-13 Nov-13 34,215.75 17,107.88 17,107.88 68,431.50 0.85 14,541.69 29,083.39 43,625.08
Sub-Total 192,006.55 40,801.39 81,602.78 122,404.18
Oct-13 Dec-13 30,192.68 15,096.34 15,096.34 60,385.36 0.65 9,812.62 19,625.24 29,437.86
Nov-13 Jan-14 40,059.94 20,029.97 20,029.97 80,119.87 0.65 13,019.48 26,038.96 39,058.44
Dec-13 Feb-14 60,106.82 30,053.41 30,053.41 120,213.63 0.65 19,534.71 39,069.43 58,604.14
Sub-Total 260,718.86 42,366.81 84,733.63 127,100.44
Jan-14 Mar-14 34,887.18 17,443.59 17,443.59 69,774.35 0.65 11,338.33 22,676.66 34,015.00
Feb-14 Apr-14 39,550.17 19,775.09 19,775.09 79,100.34 0.65 12,853.81 25,707.61 38,561.42
Mar-14 *May-14 50,095.00 25,047.50 25,047.50 100,190.00 0.65 16,280.88 32,561.75 48,842.63
Sub-Total 249,064.69 40,473.01 80,946.02 121,419.04
Apr-14 Jun-14 42,836.52 21,418.26 21,418.26 85,673.03 0.65 13,921.87 27,843.73 41,765.60
May-14 Jul-14 44,483.44 22,241.72 22,241.72 88,966.88 0.65 14,457.12 28,914.24 43,371.35
Jun-14 Aug-14 54,191.06 27,095.53 27,095.53 108,382.12 0.65 17,612.09 35,224.19 52,836.28
Sub-Total 283,022.03 45,991.08 91,982.16 137,973.24
Jul-14 Sep-14 41,601.13 20,800.56 20,800.56 83,202.25 0.65 13,520.37 27,040.73 40,561.10
Aug-14 Oct-14 46,838.76 23,419.38 23,419.38 93,677.52 0.65 15,222.60 30,445.19 45,667.79
Sep-14 Nov-14 58,574.10 29,287.05 29,287.05 117,148.19 0.65 19,036.58 38,073.16 57,109.74
Sub-Total 294,027.96 47,779.54 95,559.09 143,338.63
Oct-14 Dec-14 46,397.97 23,198.98 23,198.98 92,795.93 0.65 15,079.34 30,158.68 45,238.02
Woodbridge Crossing
Sales Tax Reimbursement Report
Page 4
Filing Allocation City of 4B WEDC Applicable WEDC City Total
Period Period Wylie(1%) (0.5%) (0.5%) Total Rate(%) Reimbursement Reimbursement Reimbursement
Nov-14 Jan-15 62,438.87 31,219.43 31,219.43 124,877.73 0.65 20,292.63 40,585.26 60,877.89
Dec-14 Feb-15 93,019.09 46,509.54 46,509.54 186,038.17 0.65 30,231.20 60,462.41 90,693.61
Sub-Total 403,711.83 65,603.17 131,206.34 196,809.52
Jan-15 Mar-15 42,919.35 21,459.67 21,459.67 85,838.69 0.65 13,948.79 27,897.57_ 41,846.36
Feb-15 Apr-15 44,299.71 22,149.86 22,149.86 88,599.42 0.65 14,397.41 28,794.81 43,192.22
Mar-15 May-15 61,991.88 30,995.94 30,995.94 123,983.76 0.65 20,147.36 40,294.72 60,442.08
Sub-Total 298,421.87 48,493.55 96,987.11 145,480.66
Apr-15 Jun-15 47,156.82 23,578.41 23,578.41 94,313.63 0.65 15,325.96 30,651.93 45,977.89
May-15 Jul-15 51,820.00 25,910.00 25,910.00 103,639.99 0.65 16,841.50 33,683.00 50,524.50
Jun-15 Aug-15 63,530.67 31,765.34 31,765.34 127,061.34 0.65 20,647.47 41,294.94 61,942.40
Sub-Total 325,014.96 52,814.93 105,629.86 158,444.79
Jul-15 Sep-15 49,814.04 24,907.02 24,907.02 99,628.08 0.65 16,189.56 32,379.13 48,568.69
Aug-15 Oct-15 52,333.38 26,166.69 26,166.69 104,666.76 0.65 17,008.35 34,016.70 51,025.05
Sep-15 Nov-15 54,260.52 27,130.26 27,130.26 108,521.03 0.65 17,634.67 35,269.33 52,904.00
312,815.87 50,832.58 101,665.16 152,497.74
Oct-15 Dec-15 48,763.81 24,381.90 24,381.90 97,527.61 0.65 15,848.24 31,696.47 47,544.71
Nov-15 Jan-16 63,303.62 31,651.81 31,651.81 126,607.23 0.65 20,573.67 41,147.35 61,721.02
Dec-15 Feb-16 99,187.99 49,594.00 49,594.00 198,375.98 0.65 32,236.10 64,472.19 96,708.29
422,510.82 68,658.01 137,316.02 205,974.02
Jan-16 Mar-16 49,991.19 24,995.59 24,995.59 99,982.37 0.65 16,247.14 32,494.27 48,741.41
Feb-16 Apr-16 42,000.94 21,000.47 21,000.47 84,001.87 0.65 13,650.30 27,300.61 40,950.91
Mar-16 May-16 63,385.72 31,692.86 31,692.86 126,771.44 0.65 20,600.36 41,200.72 61,801.08
310,755.68 50,497.80 100,995.60 151,493.39
Apr-16 Jun-16 50,205.20 25,102.60 25,102.60 100,410.40 0.65 16,316.69 32,633.38 48,950.07
May-16 Jul-16 55,183.98 27,591.99 27,591.99 110,367.95 0.65 17,934.79 35,869.58 53,804.38
Jun-16 Aug-16 75,925.05 37,962.53 37,962.53 151,850.10 0.65 24,675.64 49,351.28 74,026.92
362,628.45 58,927.12 117,854.25 176,781.37
Jul-16 Sep-16 46,925.74 23,462.87 23,462.87 93,851.48 0.65 15,250.87 30,501.73 45,752.60
Woodbridge Crossing
Sales Tax Reimbursement Report
Page 5
Filing Allocation City of 4B WEDC Applicable WEDC City Total
Period Period Wylie (1%) (0.5%) (0.5%) Total Rate(%) Reimbursement Reimbursement Reimbursement
Aug-16 Oct-16 63,826.65 31,913.33 31,913.33 127,653.30 0.65 20,743.66 41,487.32 62,230.98
Sep-16 Nov-16 59,856.95 29,928.48 29,928.48 119,713.90 0.65 19,453.51 38,907.02 58,360.53
341,218.68 55,448.04 110,896.07 166,344.11
Oct-16 Dec-16 52,217.94 26,108.97 26,108.97 104,435.88 0.65 16,970.83 33,941.66 50,912.49
Nov-16 Jan-17 71,458.61 35,729.30 35,729.30 142,917.21 0.65 23,224.05 46,448.09 69,672.14
Dec-16 Feb-17 0.00 0.00 0.00 0.00 0.65 0.00 0.00 0.00
247,353.09 40,194.88 80,389.75 120,584.63
Totals 7,292,133.26 1,344,015.08 2,688,030.16 4,032,045.23
CSD Woodbridge Centre
Sales Tax Reimbursement Report
Filing Allocation City 4B WEDC WEDC
Period Period 1.00% 0.50% 0.50% Total Reimbursement
Jan-14 Mar-14 $500.33 $250.17 $250.17 $1,000.66 $250.17
Sub-Total 1,000.66 250.17
Feb-14 Apr-14 608.31 304.16 304.16 1,216.62 304.16
Mar-14 May-14 819.13 409.57 409.57 1,638.26 409.57
Apr-14 Jun-14 1,474.84 737.42 737.42 2,949.67 737.42
Sub-Total 5,804.55 1,451.14
May-14 Jul-14 1,856.70 928.35 928.35 3,713.39 928.35
Jun-14 Aug-14 25,686.18 12,843.09 12,843.09 51,372.36 12,843.09
Jul-14 Sep-14 1,482.27 741.14 741.14 2,964.54 741.14
Sub-Total 58,050.29 14,512.57
Aug-14 Oct-14 1,927.17 963.59 963.59 3,854.34 $963.59
Sep-14 Nov-14 32,934.65 16,467.32 16,467.32 65,869.29 16,467.32
Oct-14 Dec-14 1,998.92 999.46 999.46 3,997.84 999.46
Sub-Total 73,721.47 18,430.37
Nov-14 Jan-15 2,885.15 1,442.58 1,442.58 5,770.30 1,442.58
Dec-14 Feb-15 29,624.02 14,812.01 14,812.01 $59,248.04 $14,812.01
Jan-15 Mar-15 6,488.22 3,244.11 3,244.11 $12,976.44 $3,244.11
Sub-Total $77,994.78 $19,498.70
Feb-15 Apr-15 5,694.92 2,847.46 2,847.46 11,389.83 2,847.46
Mar-15 May-15 31,176.75 15,588.37 15,588.37 $62,353.49 $15,588.37
Apr-15 Jun-15 5,390.41 2,695.20 2,695.20 $10,780.81 $2,695.20
Sub-Total $84,524.13 $21,131.03
May-15 Jul-15 6,467.00 3,233.50 3,233.50 12,934.00 3,233.50
Jun-15 Aug-15 32,110.31 16,055.16 16,055.16 $64,220.62 $16,055.16
Jul-15 Sep-15 5,548.58 2,774.29 2,774.29 $11,097.15 $2,774.29
Sub-Total $88,251.77 $22,062.94
Aug-15 Oct-15 5,683.49 2,841.74 2,841.74 11,366.97 2,841.74
Sep-15 Nov-15 41,414.13 20,707.06 20,707.06 $82,828.25 $20,707.06
Oct-15 Dec-15 6,007.81 3,003.91 3,003.91 $12,015.62 $3,003.91
Sub-Total $106,210.84 $26,552.71
Nov-15 Jan-16 6,246.73 3,123.36 3,123.36 12,49 .45 3,123.36
Dec-15 Feb-16 38,577.49 19,288.74 19,288.74 $77,154..97 $19,288.74
CSD Woodbridge Centre
Sales Tax Reimbursement Report
Jan-16 Mar-16 5,383.48 2,691.74 2,691.74 $10,766.95 $2,691.74
Sub-Total $100,415.37 $25,103.84
Feb-16 Apr-16 5,556.02 2,778.01 2,778.01 11,112.03 2,778.01
Mar-16 May-16 35,400.22 17,700.11 17,700.11 $70,800.43 $17,700.11
Apr-16 Jun-16 5,929.35 2,964.67 2,964.67 $11,858.69 $2,964.67
Sub-Total $93,771.15 $23,442.79
May-16 Jul-16 5,622.45 2,811.22 2,811.22 11,244.89 2,811.22
Jun-16 Aug-16 36,078.78 18,039.39 18,039.39 $72,157.55 $18,039.39
Jul-16 Sep-16 5,553.88 2,776.94 2,776.94 $11,107.76 _ $2,776.94
Sub-Total $94,510.20 $23,627.55
Aug-16 Oct-16 5,386.52 2,693.26 2,693.26 $10,773.03 2,693.26
Sep-16 Nov-16 45,851.97 22,925.99 22,925.99 $91,703.94 $22,925.99
Oct-16 Dec-16 5,712.60 2,856.30 2,856.30 $11,425.19 $2,856.30
Sub-Total $113,902.16 $28,475.54
Nov-16 Jan-17 5,534.56 2,767.28 2,767.28 $11,069.11 2,767.28
Dec-16 Feb-17 0.00 0.00 0.00 $0.00
Jan-17 Mar-17 0.00 0.00 0.00 $0.00
Sub-Total $11,069.11 $2,767.28
Total $909,226.48 $227,306.62
W M Environmental Program Tracking
Invoiced Date Descr. of Work Proj.Total
605 Commerce Project Total: 94,810.56
Phase II 4,138.75 2/28/15`, Completed
Labor: Laura Foss;James Maxwell; Clay Snider; Michael Whitehead
Contracted Amt:$11,500 1,967.65 2/28/15 Laboratory
4,878.30 2/28/15 Drilling
124.12 2/28/15 Misc.Supplies
151.25 2/28/15 W&M Equipment
250.00 2/28/15 Vehicle Usage P-2
12.39 8/18/15 Postage
47.50 8/31/15 Labor: Mark Smith
Total 11,569.96
VCP(Vol. Cleanup Prog) 10,324.00 6/23/15 Labor: Frank Clark; Laura Foss; Hichael Henn,James Maxwell; Paul
Rodusky; Mark Smith; Clay Snider; William Soderstrom; Ross
Tucker; Michael Whitehead
Contracted Amt: $38,000 3,325.80 6/23/15 Laboratory
1,150.00 6/23/15 Supplies/Permits
690.00 6/23/15 Other Sub-contractors
4.90 6/23/15 Misc.Supplies
1,175.75 7/14/15 Labor: Frank Clark,; Clay Snider; Michael Whitehead
2,632.35 7/14/15 Drilling
9.38 7/14/15 Postage/Shipping/Delivery
32.62 7/14/15 Misc.Supplies
13.23 7/14/15 Mileage
187.50 7/14/15 Vehicle Usage P-2
361.75 7/14/15 W&M Equipment
1,425.00 8/18/15 Labor: Shan Ahmad;James Maxwell; Clay Snider
517.50 8/18/15 Laboratory
3,041.75 8/18/15 Drilling
925.75 8/18/15 Other Sub-contractors
11.16 8/18/15 Misc. Supplies
64.63 8/18/15 W&M Equipment
125.00 8/18/15 Vehicle Usage P-2
1,066.25 8/31/15 Labor: James Maxwell; Clay Snider; Michael Whitehead
W M Environmental Program Tracking
.........._......
893.55 8/31/15 Laboratory
521.25 9/30/15 Labor: Shan Ahmad; Mark Smith; Clay Snider
287.50 10/31/15 Labor: Clay Snider
402.50 12/15/15 Labor: Clay Snider
631.25 12/31/15 Labor: Clay Snider, Michael Whitehead
143.75 12/31/15 Other Sub-contractors
843.75 1/31/16 Labor: Michael Henn,Mark Smith, Clay Snider
1,612.50 2/29/16 Labor: Shan Ahmad, Clay Snider
1,010.85 2/29/16 Laboratory
8.24 2/29/16 Misc.Supplies
396.14! 2/29/16 Vehicles/ Equipment
983.75 3/31/16 Labor: Michael Henn,Jeremiah Roy, Clay Snider
142.50 4/30/16 Labor: Jeremiah Roy, Clay Snider
Labor: Shan Ahmed,James Maxwell,Antonia Pacholczuk, Paul
3,201.25 6/30/16 Rodusky,Jeremiah Roy, Michael Whitehead, Ross Zapalac
38,163.10
APAR(Affected Property
Assessment Report) 805.00! 7/14/15 Labor: Clay Snider Completed
87.50 8/18/15 Labor: Michael Henn
Contracted Amt: $16,000 2,676.25 8/31/15 Labor: Laura Foss; Michael Henn; Clay Snider
11.73 8/31/15 Misc.Supplies
398.50 8/31/15 Vehicle usage P-2; W&M Equipment
2,880.00 9/30/15 I Labor: Shan Ahmad;James Maxwell;Antonia Pacholczuk; Clay
Snider; Michael Whitehead.
536.00 10/31/15 Labor: Clay Snider; Frank Clark
38.56 10/31/15 Subcontractors: Postage &Shipping
230.00 12/15/15 Labor: Clay Snider
115.00 12/31/15 Labor: Clay Snider
3,107.50 1/31/16 Labor: Shan Ahmad, Frank Clark, Michael Henn,Jeremiah Roy, Clay
Snider
350.00 4/30/16 Labor: Jeremiah Roy
195.00 5/31/16 Labor: Shan Ahmad, Clay Snider
660.00 10/31/16 Labor: Clay Snider
W M Environmental Program Tracking
502.50 11/30/16 Labor: Michael Henn,Joshua Hopper,Clay Snider
173.50 12/31/16 Labor: Antonia Pacholczuk, Clay Snider
172.50 1/31/17 Labor: Michael Henn, Clay Snider, Michael Whitehead
Total 12,939.54
.... .........._...._____..
MSD (Municipal Setting
Designation) 393.75 7/14/15 Labor: Michael Henn
384.00 8/18/15 Labor- Frank Clark, Michael Henn
Contracted Amt: $25,000 1,336.23 8/18/15 Aerials/Maps/Photos
195.75 8/31/15 Labor: Frank Clark, Michael Henn
1,020.00 9/30/15 Labor: Laura Foss
2,241.25. 10/31/15 Labor: Frank Clark, Michael Henn; Michael Whitehead
87.50 12/15/15 Labor: Michael Henn
1,476.25 12/31/15 Labor: Frank Clark, Holly Stockton, Michael Whitehead
28.44 12/31/15 Mileage
837.50 1/31/16 Frank Clark, Michael Henn
4,292.50 2/29/16 Labor: Shan Ahmad, Frank Clark, Michael Henn,Jeremiah Roy, Clay Snider
97.75 2/29/16 Meals
1,873.75 3/31/16 Labor: Shan Ahmad, Frank Clark,Jeremiah Roy, Clay Snider, Michael Whitehead
Labor: Frank Clark, Michael Henn,Jeremiah Roy, Mark Smith, Clay
1,495.00 4/30/16 Snider, Michael Whitehead
221.25 5/31/16 Labor: James Maxwell, Clay Snider
87.50 9/30/16 Labor: Clay Snider, Michael Whitehead
1,516.25 10/31/16 Labor: Frank Clark, Michael Henn, Clay Snider, Micahel Whitehead
903.75 11/30/16 Labor: Michael Henn,Joshua Hopper,Jeremiah Roy, Clay Snider
Labor: Frank Clark, Michael Henn,James Maxell,Antonia
2,332.75 12/31/16 Pacholczuk, Clay Snider, Michael Whitehead
24.62 12/31/16 Postage/Shipping/Delivery
131.00 1/31/17 Labor: Frank Clark, Clay Snider
Total 20,976.79
Indoor Air Sampling
Contract: $3,300 470.00! 4/30/16 Labor: Mark Smith,Clay Snider Completed
90.00 5/31/16 Labor: Clay Snider
1,603.75 6/30/16 Labor: Michael Henn, Clay Snider
W M Environmental Program Tracking
1,472.00 6/30/16 Other Sub-Contactors: Laboratory
Total: 3,635.75
Response Action Plan (RAP)
502.50 7/31/16 Labor: Joshua Hopper, Clay Snider
Contract: $10,500 Labor: Frank Clark,Trudy Hasan,James Maxwell, Clay Snider, Ross
2,810.00 8/31/16 Tucker, Michael Whitehead.
36.27 8/31/16 Shipping, postage, delivery
393.75 9/30/16 Labor: Shan Ahmad
770.00 10/31/16 Labor: Michael Henn, Clay Snider, Michael Whitehead
172.50 11/30/16 Labor: Michael Henn,Joshua Hopper
45.00 1/31/17 Labor: Michael Henn
Total: 4,730.02
Soil Excavation
Contract: $20,000 93.00 1/31/17 Labor: Clay Snider
Total 93.00
Response to TCEQ 458.75 10/31/16 Labor: Michael Henn, Clay Snider
Contract: $2,500 1,841.15 10/31/16 Subcontractors: Laboratory($1,381.15), Drilling($460)
402.50 11/30/16 Labor: Michael Whitehead
Total: 2,702.40
900-908 Kirby Project Total: 19,796.09
Phase I -Contract$2,800 2,800.00 10/31/16 Completed
2,800.00
Limited Phase ll- Labor: Shan Ahmad, Michael Henn,Joshua Hopper, Clay Snider,
Contract$17,000 4,052.50 9/30/16 Michael Whitehead
11.18 9/30/16 Mileage
227.25 9/30/16 Vehicle Usage/W&M Equipment
937.50 10/31/16 Labor: Shan Ahmad, Michael Henn, Clay Snider, Michael Whitehead
11,450.55 10/31/16 Subcontractors: Laboratory($3,685.75), Drilling ($7,764.80)
98.36 10/31/16 Misc.Supplies
218.75 10/31/16 Vehicle Usage/W&M Equipment
16,996.09
201 Industrial Ct Project Total: 2,400.00
W M Environmental Program Tracking
Phase I-Contract$2,400 2,400.00 10/17/16 Completed
2,400.00
mp-
Hwy 78-CFA VCP Project Total: 1,233.00
Phase I-Contract$1,000 1,233.00 1/31/17 Labor: Frank Clark, Clay Snider, Michael Whitehead
1,233.00
Spent Contracted
Total W&M Expenditures: 118,239.65 $150,000
WEDC Promotional Activities
2016-17 Mavericks Tickets
Date Attendees
October 3, 2016 W&M Environmental (Pre-season)
October 28, 2016 Coventry Reserve-Auction Item (Pre-Season)
November 6, 2016 Jim Campbell - Chairman of the Board, Lone Star Circuits
November 18, 2016 Wylie Eye Center
December 27, 2016 United Commercial Realty
January 7, 2017 Primary Integration Systems
January 30, 2017 Falcon Realty
February 9, 2017 Mark Hambelton- DCU
Regional Housing Permits
Wylie Lavon
09 10 11 12 13 14 15 16 17 I 09 10 11 12 13 14 15j
17
January 13 28 20 161 181 14 46 9 15 January III 8 iiiii 4 6
February 7 18 I 9 22 14 20 31 4 February U®UDU� 6 I��
March 26 20 28 ' 18 17 30 31 43 March 1 10 8igii 6 1111111111 8
April 16 23 I 18 29 ! 38 10 57 41 April 61111111111111111III
111111
May 1 11 26 18 20 22 26 1 68 101 May I 8 111111 0 I, 9 III 4 UU
June 36 24 19 13 11 9 57 1 58 JuneIMI
9 OUIUUU
July 21 33 1 20 19 18 29 36 34 7--- July
11111111131121111111111E111111
August 22 24 16 20 19 19 30 1 25 9 6 0
August iipillsi September
38 231 22 15 8 17 24 18I Septeme�r� 0 6
6 III �� 0 iiiiOctober 1 15 17 16 28 30 21 32 26 I October III 14 4 'lfl 9 11111 0 1
I November 21 13 5 14 18 20 33 11 November -1E11:1 I 1 0 !III
'
December 1 31 15 110 16 1 23 65 38 39
December 1311131 6 0
TOTAL , 257 264 201 230 236 280 1483 409 5 TOTALCIIIIRI1 60 100 1Illimilliiiiiil �
Murphy Sachse
09 10 11 12 13 14 15 16 17 09 10 11 12 13 14 15 16 17
January 2 14 4 7 26 13 1 12 5 January 5 1I 17 14 1 8 13 18 14 16 2
February 1 15 3 14 4 5 5 4 I1 February l 8 10 3 11 L 8 29 17 31
March 4 1 15 9 6 6 8 4 5 I March 11 11 1 9 12 1 13 24 31
I
April i 7 12 8 10 23 1 1 3 8 April 12 11 8 4 13 17 12 24
May 7 5 1 11 14 7 7 2 2 May 6 13 11 17 10 21 6 21
June 12 13 6 19 15 6 7 4 June 17 11 1 8 17 14 16 38 25
July 12 7 7 1 16 7 22 4 2 July 11 15 7 14 15 1 30 12 22
August II 6 3 4 13 15 16 2 ! 21 August 12 14 5 19 10 29 41 32 �--
September 12 7 4 10 10 3 3 6 September 13 3 12 12 [ 17 23 27 20
October 4 8 3 1 16 16 4 1 0 2 October 15 3 I 8 15 25 1 18 31 29
November 5 7 1 3 17 5 5 2 1 6 November 14 4 6 9 12 27 26 12
December 14 9 8 7 15 4 0 1 December 12 6 7 10 11 39 12 11
TOTAL 186 115 70 149 149 94 33 73 1 5 TOTAL 136 118 98 148 1491280 260 1274 2 I
Inspiration
Jan Feb Marc Apr MaY Jun Jul Aug Sep Oct Dec Total
15 5 12 10 6 17 13 1 14 4 13 8 1 11 1181
16 10 19 11 9 7 13 40 ' 8 14 13 2 164
17 10 10
Regional Housing Permits
Wylie Pendin Developments Sachse Pending Developments
Estates of Creekside-45 ac. -63 Lots, 3 open space Jackson Hills Phase 3A-2 -55 Lo
ts
ots
Braddock Place, Phase 2 - 185 ac. - 44 Lots Heritage Park- Phase 3 -81 Lots
Kreymer Estates Phase 1 -36.475 ac. - 110 Lots Parkwood Ranch - Phase 2-102 Lots
Lewis Ranch -53 ac. -216 Lots Jackson Hills- Phase 3B- 114 Lots
Woodbridge 16 -25.083 ac. - 111 Lots Jackson Meadows-51 Lots
Dominion of Pleasant Valley-361.4 ac. -975 Lots Woodbridge- Phase 19- 148 Lots
Covington Estates Ph 1 - 14.308 ac. -44 lots ETJ
Bozeman Farms-780 lots remaining (145 under cons.) C & F Copeville Addition -3.515 ac 3 Lots
Alanis Crossing - Phase 1 -29.292 ac-53 Lots Geckler Addition - 14.274 ac 1 Lot
Braddock Place, Phase 3-18.322 ac. - 53 Lots, 2 open space Reyes estates-3.61 ac 2 Lots
Wilson Creek-38 ac. 140 lots Creeks Crossing -3.187 ac 2 Lots
Inspiration 2B -25 ac. 76 lots Wylie ETJ
ZC 2014-08 Nails-25 ac. 105 Townhomes
Hunter's Cove Phase I -31.414 ac 58 Lots
Bozman Farms Phase 3 -50.392 ac 139 Lots
Braddock Place Phase 4 -25.608 ac 77 Lots
Braddock Plase Phase 3 - 18.322 ac. 53 Lots
Creekside Estates Phase VII -23.267 ac. - 11 Lots
Castle Park-31.41 ac 56 Lots
Inspiration Phase 1 &2 --53 Lots
Kreymer Estates Amenity Center-3.3 ac. 1 Lot
Kreymer Estates Phase 2-23.171 ac 60 Lots
Kreymer Estates Phase 3-29.7654 ac 74 Lots
Mansions at Wylie Seniors - 13.125 ac 1 Lot
Schupbach Estates- 0.633 ac. 2 Lots
Wooded Creek Phase 2 Amenity Center-0.512 ac 1 Lot
Creekside Estates Phase VIII -20.551 ac 65 Lots
Kreymer Estates Phase 4 -27.312 ac 78 Lots
Bozman Farms Phase 5-69.071 ac 198 Lots
HNI Townhome Addition- 10.06 ac 104 Lots
Alanis Crossing Phase II -26.239 ac 42 Lots
Trailsplace Lot 6-BR &6 C-0.256 ac 2 Lots
Kreymer Park-45.57 ac 151 Lots
Kreymer Estates Phase 3-29.7654 ac 74 Lots
Braddock Place Phase 5-28.019 ac
Railroad Addition Block 31- 1 ac.
Creekside Estates Ph 9- 12 ac
CITY OF WYLIE, TEXAS
COMPREHENSIVE ANNUAL FINANCIAL REPORT
FISCAL YEAR ENDED
SEPTEMBER 30, 2016
AS PREPARED BY THE
FINANCE DEPARTMENT
Profile of the City
The City of Wylie is located in the south central portion of Collin County, approximately 23 miles northeast of
downtown Dallas. Incorporated in 1887, the City adopted its Home Rule Charter on January 19, 1985, and
operates under a council-manager form of government. The City Council is comprised of a Mayor and six
council members. All members are elected at-large on a staggered and nonpartisan basis for three-year terms.
They are responsible to enact local legislation, provide policy, and annually adopt the operating budget. They
appoint the City Manager, City Attorney, Judge of the Municipal Court and members of various boards and
commissions. The City Manager, under the oversight of the City Council, is responsible for the proper
administration of the daily operations of the City.
The City provides a full range of municipal services including general government, public safety (police, fire,
and emergency communications), streets, library, parks and recreation, planning and zoning, code
enforcement, animal control, and water and sewer utilities. Sanitation services are provided by the City but are
privately contracted. The Wylie Economic Development Corporation (WEDC) is included in the financial
statements as a discrete component unit. Its purpose is to aid, promote and further economic development
within the City. The Wylie Park and Recreation Facilities Development Corporation (4B Corporation) is also
combined within the financial statements of the City. Both WEDC and the 4B Corporation are primarily funded
with sales tax revenues. Both corporations are discussed more fully in the notes to the financial statements.
The annual budget of the City serves as the foundation for its financial plan and control. The budget is
proposed by the City Manager and adopted by the City Council in accordance with policies and procedures
established by the City Charter, ordinances and state law. The budget process begins each year with a budget
message from the City Manager highlighting the objectives to be used in developing departmental budgets.
The departmental budgets are then reviewed by the City Manager and a proposed budget is prepared for
presentation to the City Council. The City Council reviews the budget in subsequent work sessions and a
formal budget is prepared and made available to the public for review by August 5` each year or a date to be
determined by the City Council. Prior to official adoption of the budget by Council, a public hearing on the
proposed budget is held to allow for public input.
Factors Affecting Financial Condition
The information presented in the financial statements is perhaps best understood when it is considered from
the broader perspective of the specific environment within which the City of Wylie operates.
Local economy
Fast paced growth has again become the predominant characteristic of the City. After the City's growth
showed an evident slowdown which went hand in hand with the nationwide economic downturn, there was a
much improved environment in Fiscal Year 2013. The growth rate began improving in Fiscal Year 2013,
continued in Fiscal Year 2014 and has been very strong in Fiscal Year 2015 and again in Fiscal Year 2016.
The 2016 population of the City has been estimated at about 47,776. This represents a modest 2% growth
over the previous year which should have been listed at 46,696. The growth is also evidenced in residential
construction. Although there was an increase in population of only 2%, residential construction permits
remained almost as strong as the previous year total of 479 permits. For the year ending September 30, 2016,
the City issued 427 permits. This continues the strong issuance of building permits that first began in Fiscal
Year 2013. Fiscal Years 2011 and 2012 saw a decline in construction permits from the prior years. The
economy remains strong and this is also evidenced in the tax base. When both residential and commercial
growth is considered, our total tax base increased by 11.5% over the previous year. Our freeze adjusted
taxable assessed value this year, as provided by the Collin Central Appraisal District, Dallas Central Appraisal
District and Rockwall Central Appraisal District,was$2,921,053,864.
The City's growth continues at a rapid pace and a very favorable economic environment exists. The City was
named the Best Small City for Families in the nation among cities with populations of 25,000 to 100,000 as
determined by financial website NerdWallet according to Forbes magazine. In addition the Police Department
announced that the City's overall crime rate for 2015 reflected a decrease of 28% per 1,000 population
although the population had increased.
MI
City of Wylie, Texas
Management's Discussion and Analysis
September 30, 2016
The Statement of Net Position presents information on all of the City's assets and deferred outflows of
resources and liabilities and deferred inflows of resources with the difference between the two reported as net
position. Over time, increases or decreases in net position may serve as a useful indicator of whether the
financial position of the City is improving or deteriorating.
The Statement of Activities presents information showing how the government's net position changed during
the most recent fiscal year. All changes in net position are reported as soon as the underlying event giving rise
to the change occurs, regardless of the timing of related cash flow. Thus, revenues and expenses are reported
in this statement for some items that will only result in cash flows in future fiscal periods (e.g., uncollected taxes
and earned but unused vacation leave).
Both of the government-wide statements distinguish between governmental activities and business-type
activities. Governmental activities basically account for those activities supported by taxes and
intergovernmental revenues. On the other hand, business-type activities are basically supported by user fees
and charges. Most City services are reported in governmental activities while business-type activities are
reported in the Enterprise Fund.
The government-wide statements include not only the City but also a discrete component unit, the Wylie
Economic Development Corporation (WEDC). Although legally separate, WEDC is financially accountable to
the City.
Fund financial statements. The City, like other state and local governments, utilizes fund accounting to
ensure and demonstrate compliance with finance-related legal requirements. A fund is a grouping of related
accounts that is used to maintain control over resources that have been segregated for specific activities or
objectives. All of the funds of the City can be divided into two categories: governmental funds and proprietary
funds.
Governmental funds. Governmental funds are used to account for essentially the same functions reported as
governmental activities in the government-wide financial statements. However, unlike the government-wide
financial statements, governmental fund financial statements focus on near-term inflows and outflows of
spendable resources as well as on balances of spendable resources available at the end of the fiscal year.
Such information may be useful in evaluating a government's near-term financing requirements.
Because the focus of governmental funds is narrower than that of the government-wide financial statements, it
is useful to compare the information presented for governmental funds with similar information presented for
governmental activities in the government-wide financial statements. By doing so, readers may better
understand the long-term impact of the government's near-term financing decisions. Both the governmental
fund balance sheet and the governmental fund statement of revenues, expenditures, and changes in fund
balances provide a reconciliation to facilitate this comparison between governmental funds and governmental
activities.
The City maintains twenty-seven individual governmental funds. Information is presented separately in the
Governmental Fund Balance Sheet and in the Governmental Fund Statement of Revenues, Expenditures and
Changes in Fund Balances for the General Fund and the General Obligation Debt Service Fund. All Capital
Projects Funds are combined for a single, aggregated presentation. Data from the other non-major funds are
also combined and reported in a single column. Individual fund data for each of the non-major governmental
funds is provided in the form of combining statements elsewhere in this report.
Proprietary funds. The City maintains one type of proprietary fund, an enterprise fund. Enterprise funds are
used to report the same functions presented as business-type activities in the government-wide financial
statements. The City uses an enterprise fund to account for its water and sewer operations.
Proprietary funds financial statements provide the same type of information as the government-wide financial
statements, only in more detail.
6
CITY OF WYLIE, TEXAS
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED SEPTEMBER 30, 2016
NOTE 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES—CONTINUED
B. Financial Reporting Entity—Continued
Blended Component Unit
The Wylie Park and Recreation Facilities Development Corporation ("the 4B Corporation") is
presented in the basic financial statements as a blended component unit of the City. The 4B
Corporation's board is substantively the same as the City Council. All members of the 4B
Corporation other than the board are City employees. The City Manager is the Chief Executive
Operating Officer of the 4B Corporation. The purpose of the 4B Corporation, which is financed
with a voter-approved half-cent sales tax, is to promote economic development within the City
through the construction of park and recreation facilities. The 4B Corporation has a September 30
year-end. The 4B Corporation's financial budget, treasury, and personnel functions are totally
integrated with the City's (thus the City has operational responsibility for the 4B Corporation). All
of the 4B Corporation's financial information is presented in the basic and combining financial
statements along with the notes to these financial statements. The 4B Corporation does not issue
separate financial statements.
Discretely Presented Component Unit
The Wylie Economic Development Corporation (WEDC) is a discretely presented component unit
in the combined financial statements. The governing body of the WEDC is appointed by the City
Council and the WEDC's operating budget is subject to approval of the City Council. The WEDC's
board is not substantially the same as the City Council. The purpose of the WEDC, which is
financed with a voter-approved half-cent City sales tax, is to aid, promote and further the
economic development within the City. The WEDC is presented as a governmental fund type and
has a September 30 year-end. Under a contract with the WEDC, the financial, budget, treasury
and personnel functions of the WEDC are integrated with the City. All of WEDC's financial
information is presented in the combined and combining financial statements along with the notes
to these financial statements. There are no separately issued financial statements of the WEDC.
C. Government-Wide and Fund Financial Statements
The basic financial statements include both government-wide (based on the City as a whole) and
fund financial statements. The government-wide financial statements (i.e., the statement of net
position and the statement of activities) report information on all of the non-fiduciary activities of
the primary government and its component units. Governmental activities, which normally are
supported by taxes and intergovernmental revenues, are reported separately from business-type
activities, which rely on fees and charges for support. Additionally, the primary government is
reported separately from the legally separate component unit for which the primary government is
financially accountable.
The government-wide statement of activities demonstrates the degree to which the direct
expenses of a functional category (Public Safety, Urban Development, etc.) or program are offset
by program revenues. Direct expenses are those that are clearly identifiable with specific function
or program. Program revenues include: a) charges to customers or applicants who purchase,
use, or directly benefit from goods, services, or privileges provided by a given function or
program, b) grants and contributions that are restricted to meeting the operational requirements
of a particular function or program, or c) grants and contributions that are restricted to meeting the
capital requirements of a particular function or program. Taxes and other items not properly
included among program revenues are reported instead as general revenues. Internally
dedicated resources are also reported as general revenues rather than as program revenues.
29
CITY OF WYLIE, TEXAS
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED SEPTEMBER 30, 2016
NOTE 8. LONG-TERM DEBT—CONTINUED
During the year ended September 30, 2016, the City issued $34,250,000 General Obligation
Refunding Bonds, Series 2016, of which $4,140,000 is included as part of business-type
activities. Net proceeds from the sale, including a $478,714 issuer contribution, totaled
$41,282,445. Of these proceeds, $40,903,408 was placed with an escrow agent to provide for all
future debt payments of the refunded bonds.
This refunding resulted in a decrease in the City's debt service payments of $5,325,413, which
resulted in an economic gain (difference between the present value of the debt service payments
of the old and new debt) of$4,627,347.
As a result of this transaction, $23,905,000 of general obligation bonds and $9,280,000 of
combination tax and revenue certificates of obligation of governmental activities, and $4,690,000
of combination tax and revenue certificates of obligation of business-type activities were refunded
and are considered legally defeased. As such, they are no longer included as liabilities in the
City's basic financial statements.
Compensated Absences
Compensated absences represent the estimated liability for employees' accrued sick and
vacation leave for which employees are entitled to be paid upon termination. The retirement of
this liability is typically paid from the General Fund and Enterprise Funds based on the
assignment of an employee at termination.
Discretely Presented Component Unit—Wylie Economic Development Corporation (WEDCZ
WEDC Loans Payable as of September 30, 2016 are as follows:
Description Balance
$548,935, payable to bank, made December 2012, payable in monthly installments of$10,107
through Noeember 28,2017, including interest at 3.99%., $ 138,838
$400,000, payable to bank, made August 2014, payable in monthly installments of$7,332
through August 22, 2019, including interest at 3.77%. 242,653
$1,685,000,payable to bank, made September 2015, payable in monthly installments of
$17,059 through September 2017, including interest at 4.00% 1,650,927
$967,000, payable to bank, made August 2014, payable in monthly installments of$13,268
through final payment of$31,407 on March 15,2021, including interest at 2.61%. 690,868
$722,365, payable to bank,made December 2014, payable in monthly installments of
$7,382,45 through final payment of$404,868 on December 10,2019, including interest at 616,779
$387,317, payable to bank, made September 2015, payable in monthly installments of$8,745,
including interest at 4..00%,through final payment on September 2,2019, 296,440
$ 3,636,505
46
CITY OF WYLIE, TEXAS
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED SEPTEMBER 30, 2016
NOTE 8. LONG-TERM DEBT—CONTINUED
Discretely Presented Component Unit—Wylie Economic Development Corporation (WEDC) —
Continued
Annual debt service requirements to maturity for WEDC debt is:
Year Principal Interest Total
2017 $ 2,158,293 $ 124,350 $ 2,282,643
2018 424,743 55,840 480,583
2019 385,413 31,019 416,432
2020 571,156 9,108 580,264
2021 96,900 293 97,193
Total $ 3 636 505 $ 220,610 $ 3,857,115
The following is a summary of WEDC long-term transactions for the year ended September 30,
2016:
Balance Balance Due Within
0.Description 9/30/2015 Increases Decreases 9/30/2016 One Year
Loans payable $2,475,396 $ 1,685,000 $ (523,891) $3,636,505 $2,158,293
Compensated Absences 44,288 51,443 (11,037) 84,694 57,489
Net pension liability 147,106 41,706 188,812
Total long-term liabilities $2,666,790 $ 1,778,149 $ (534,928) $3,910,011 $2,215,782
NOTE 9. PENSION PLAN
A. Plan Description
The City participates as one of 866 plans in the nontraditional, joint contributory, hybrid defined
benefit pension plan administered by the Texas Municipal Retirement System (TMRS). TMRS is
an agency created by the State of Texas and administered in accordance with the TMRS Act,
Subtitle G, Title 8, Texas Government Code (the TMRS Act) as an agent multiple-employer
retirement system for municipal employees in the State of Texas. The TMRS Act places the
general administration and management of the System with a six-member Board of Trustees.
Although the Governor, with the advice and consent of the Senate, appoints the Board, TMRS is
not fiscally dependent on the State of Texas. TMRS' defined benefit pension plan is a tax-
qualified plan under Section 401(a) of the Internal Revenue Code. TMRS issues a publicly
available comprehensive annual financial report(CAFR)that can be obtained at www.tmrs.com.
All eligible employees of the City are required to participate in TMRS.
47
CITY OF WYLIE, TEXAS
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED SEPTEMBER 30, 2016
NOTE 9. PENSION PLAN -CONTINUED
C. Contributions-Continued
Employees for the City were required to contribute 7% of their annual gross earnings during the
fiscal year. The contribution rates for the City were 14.07% and 14.57% in calendar years 2015
and 2016, respectively. The City's contributions to TMRS for the year ended September 30, 2016
(including $36,555 of contributions by WEDC) were $2,611,189, and were equal to the required
contributions.
D. Net Pension Liability
The City's Net Pension Liability (NPL) was measured as of December 31, 2015 and the Total
Pension Liability (TPL) used to calculate the NPL was determined by an actuarial valuation as of
that date.
Actuarial Assumptions:
The Total Pension Liability in the December 31, 2015 actuarial valuation was determined
using the following actuarial assumptions:
Inflation 2.5%per year
Overall payroll growth 3.0%per year
Investment Rate of Return 6.75%, net of pension plan investment expense, including inflation
Salary increases were based on a service-related table. Mortality rates for active members,
retirees, and beneficiaries were based on the gender distinct RP2000 Combined Healthy
Mortality Table, which male rates multiplied by 109% and female rates multiplied by 103%.
The rates are projected on a fully generational basis by scale BB to account for future
mortality improvements. For disabled annuitants, the gender-distinct RP2000 Combined
Healthy Mortality Tables with Blue Collar Adjustment are used with males rates multiplied by
109% and female rates multiplied by 103% with a 3-year set-forward for both males and
females. In addition, a 3% minimum mortality rate is applied to reflect the impairment for
younger members who become disabled. The rates are projected on a fully generational
basis by scale BB to account for future mortality improvements subject to the 3%floor.
Actuarial assumptions used in the December 31, 2015, valuation were based on the results
of actuarial experience studies. The experience study in TMRS was for the period
December 31, 2010 through December 31, 2014. Healthy post-retirement mortality rates and
annuity purchase rates were updated based on a Mortality Experience Investigation Study
covering 2009 through 2011, and dated December 31, 2013. These assumptions were first
used in the December 31, 2013 valuation, along with a change to the Entry Age Normal
(EAN) actuarial cost method. Assumptions are reviewed annually. No additional changes
were made for the 2014 valuation. After the Asset Allocation Study analysis and experience
investigation study, the Board amended the long-term expected rate of return on pension
plan investments from 7% to 6.75%. Plan assets are managed on a total return basis with an
emphasis on both capital appreciation as well as the production of income, in order to satisfy
the short-term and long-term funding needs of TMRS.
49
CITY OF WYLIE, TEXAS
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED SEPTEMBER 30, 2016
M
NOTE 9. PENSION PLAN -CONTINUED
E. Pension Expense and Deferred Outflows of Resources and Deferred Inflows of Resources
Related to Pensions
For the year ended September 30, 2016, the City recognized pension expense of $3,234,520
(including $45,282 recognized by WEDC). At September 30, 2016, the City reported deferred
outflows of resources and deferred inflows of resources related to pensions from the following
sources:
Deferred Deferred
Outflows of Inflows of
Resources Resources
Differences between expected and actual economic experience $ 301,866 $
Changes in actuarial assumptions 202,818
Difference between projected and actual investment earnings 2,452,421
Contributions subsequent to the measurement date 1,994,487 -
Total $ 4,748,774 $ 202,818
The $1,994,487 reported as deferred outflows of resources related to pensions resulting from
contributions subsequent to the measurement date will reduce the net pension liability during the
year ending September 30, 2017. The other amounts reported as deferred outflows and inflows
of resources related to pensions will be recognized in pension expense as follows:
Fiscal
Year Ended
Sept. 30:
2017 $ 660,850
2018 660,850
2019 660,852
2020 570,462
2021 (1,545)
Total $ 2,551,469
NOTE 10. NORTH TEXAS MUNCIPAL WATER DISTRICT
The North Texas Municipal Water District (the District) is a conservation and reclamation district and
political subdivision of the State of Texas, created and functioning under Chapter 62, Acts of 1951,
52"d Legislature, Regular Session, as amended, originally complied as Vernon's Article 8270-141 (the
Act), pursuant to Article 16, Section 59 of the Texas Constitution. The District comprises all of the
territory of its member cities, viz., Allen, Garland, Princeton, Plano, Mesquite, Wylie, Rockwall,
Farmersville, McKinney, Richardson, Forney and Royse City (the "Member Cities"). The District was
created for the purpose of providing a source of water supply for municipal, domestic and industrial
use and for the treatment processing and transportation of such water to its Member Cities and to its
other customers located in North Central Texas, all within the Dallas Standard Metropolitan Statistical
Area.
52
CITY OF WYLIE, TEXAS
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED SEPTEMBER 30, 2016
NOTE 14. CONDENSED FINANCIAL INFORMATION FOR DISCRETELY PRESENTED
COMPONENT UNIT
Following is selected condensed financial statement information for the fund basis financial
statements of the Wylie Economic Development Corporation:
Balance Sheet WEDC
Assets
Cash and equivalents $ 1,262,143
Receivables 1,068,608
Inventory 6,431,018
Prepaids 12,000
Total Assets $ 8,773,769
Liabilities
Accounts payable $ 286,067
Unearned revenue 258,343
Total Liabilities 544,410
Fund Balance 8,229,359
Total Liabilities and Fund Balance $ 8,773,769
Statement of Revenues, Expenditures and Changes in Fund Balance WEDC
Revenues:
Sales tax revenue $ 2,481,757
Interest income 5,225
Miscellaneous income 114,557
Total Revenues 2,601,539
Expenditures:
Expenditures 2,677,402
Other financing sources/uses:
Insurance recovery 318,052
Loss on disposal of property (1,682,028)
Note proceeds 1,685,000
Net change in fund balance 245,161
Fund balance 10/1/2015 7,984,198
Fund balance 9/30/2016 $ 8,229,359
55
CITY OF WYLIE, TEXAS
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED SEPTEMBER 30, 2016
NOTE 14. CONDENSED FINANCIAL INFORMATION FOR DISCRETELY PRESENTED
COMPONENT UNIT— CONTINUED
Following are reconciliations between the government-wide financial statements and the fund basis
financial statements for WEDC:
Reconciliation of fund balance to net position:
Total fund balance $ 8,229,359
Deferred outflows- pensions 66,481
Deferred inflows-pensions (2,839)
Payables for compensated absences (84,694)
Accrued interest payable (4,631)
Payable for loan principal not currently due and net pension liability (3,825,3177
Net position $ 4,378,359
Reconciliation of change in fund balance to change in net position:
Change in fund balance $ 245,161
Change in payables for compensated absences (40,406)
Change in accrued interest payable (613)
New loan proceeds (1,685,000)
Net effect of GASB 68 implementation (8,726)
Payment of loan principal 523,891
Change in net position $ (965,693
NOTE 15. LAND ACQUISITION
The discrete component unit owns property with a carrying value of $6,431,018. This property is
recorded as inventory and held as an incentive to attract businesses.
56
Wylie Economic Development Cor t oration
MEMORANDUM
TO: WEDC Board of Directors
FROM: Samuel Satterwhite, Executive Director
SUBJECT: Jackson Street Mixed-Use Development
DATE: February 22, 2017
Issue
Discuss issues surrounding a proposed mixed use concept on WEDC property located on Jackson
Street between Oak and Marble.
Analysis
Staff has encountered difficulty in marketing the WEDC property on Jackson Street for our
envisioned mixed use project. The common response of potential developers is project cost
versus the limited income producing square footage. In December staff requested that Pulliam
Construction Management (PCM) evaluate our concepts developed by McCarthy Architecture
for construction costs and potential income.
As a review, there were three schemes developed by McCarthy identifying different structural
configurations and retail/living unit densities. The summary of each concept follows with the
concept plans attached:
Scheme A:
Retail 21,820 square feet
Dwellings 34,462 square feet
Dwellings 41 units *
Parking Deck(2nd floor) 15,581 square feet
Parking Required 137 **
Parking Provided 116 ***
* Dwelling units identified are predominately 800 square feet
** 32 existing parking spaces currently being utilized for downtown will be lost
*** Not including 24 spaces on west side of Jackson and 21 public parking spaces at Oak &
Jackson
WEDC—Jackson Street
February 22, 2017
Page 2 of 4
Scheme B:
Retail 16,531 square feet
Dwellings 59,989 square feet
Dwellings 66 units *
Parking Deck(2'd floor) 39,485 square feet
Parking Required 173 **
Parking Provided 190
* Dwelling units identified are predominately 800 square feet
** 32 existing parking spaces currently being utilized for downtown will be lost
*** Not including 24 spaces on west side of Jackson and 21 public parking spaces at Oak &
Jackson
Scheme C:
Retail 21,272 square feet
Dwellings 34,646 square feet
Dwellings 41 units *
Parking Deck(2nd floor) 39,485 square feet
Parking Required 135 **
Parking Provided 127
* Dwelling units identified are predominately 800 square feet
** 32 existing parking spaces currently being utilized for downtown will be lost
*** not including 24 spaces on west side of Jackson and 21 public parking spaces at Oak &
Jackson
In refining PCM's task, staff made the assumption that the ultimate goal is to generate as much
residential density as possible. Under that assumption PCM was instructed to start with Scheme
B in identifying construction cost along with annual revenue/expense projections as follows:
Construction Cost $14.3 mm
Revenue $964,883
Debt Service $716,267
Overhead $650,472
Cash Flow ($498,344)
WEDC—Jackson Street
February 22, 2017
Page 3 of 4
Another factor negatively impacting the analysis is that there is no basis for land cost which will
have to be factored in at market rates. In evaluating areas of concern as relating to construction
cost, $2.2 mm alone is estimated for the parking deck which is difficult to offset with limited
density and similarly impacts Schemes A& C.
Following the realization that Scheme B will be difficult for a typical investor to undertake, staff
requested that PCM identify project specifications which may have a better opportunity to cash
flow which is attached as Scheme D and is as follows:
Scheme D:
Retail 4,000 square feet
Dwellings 22,400 square feet
Dwellings 22 units *
Parking Deck(2'd floor) n/a
Parking Required 58 **
Parking Provided 90 ***
* Dwelling units identified are 10 @ 800 square feet and 12 @ 1,200 square feet
** 32 existing parking spaces currently being utilized for downtown will be lost
*** not including 24 spaces on west side of Jackson and 21 public parking spaces at Oak &
Jackson
Construction Cost $3.5 mm
Revenue $327,200
Debt Service $160,080
Overhead $167,518
Cash Flow ($33,118)
Under Scheme D, the retail/office space could potentially be supported without changing traffic
patterns due to its orientation toward Marble, the existing 32 spaces of parking could be
accommodated on site without having to utilize the `City' parking lot at Oak and Jackson, and
the `City' parking lot could potentially be redeveloped with a commercial use without the need
for the parking it provides. The scaled-back Scheme D also allows for the commercial
development of the McMillan property since on-street parking on the west side of Jackson will
support its commercial use.
WEDC—Jackson Street
February 22, 2017
Page 4 of 4
Staff is not prepared to fully abandon the concepts developed by McCarthy (in conjunction with
staff), but there appears to be a wide gap between what we want and what can actually be
delivered by the investment community.
Recommendation
Staff has no recommendation as this is a discussion item but is seeking direction from the Board
on how to proceed with this information.
Attachment
Conceptual Elevation
Conceptual Layout — Scheme A
Conceptual Layout Scheme B
Conceptual Layout— Scheme C
Conceptual Layout — Scheme D
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Jackson Street Elevation
Alley
S07°55'46"E 361.87'
Ramp up i 1 I '•
y ,
1s
4- s 30'TYP I 1 m
10
° I Elevator II O
II 1
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1S 3 111111
o /1
Retail Retail Retail Refail Retail Retail Retail Retail Retail Retail Retail
aE= I2
2,743'Sq,Ft, 1,303'Sq.Ft, 2,010 Sq,Ft.
y 4 N07°55'00'W 363 94' sidewalk
',.. 10 ,HC 10 := HC_ HC 4
N.Jackson Avenue
0 HC HC HC I
,,
I
' 2 1
Total retail 21,820'Sq.Ft.
Parking deck 15,581'Sq.Ft. 7
Total living units 2nd floor 16,166'Sq.Ft. 19 units
Total living units 3rd floor 18,296'Sq.Ft. 22 units
Total living units 34,462'Sq.Ft. 41 units
Total parking spaces at street 46
8
Total parking spaces at alley 27 -_
Total parking spaces 2nd floor 43
Total parking spaces 1 i 6
MCCARTHY
Total required parking for retail 55 y.=e Dow=down 4,.ved Use_Sc e e A
Total required parking for living units 82 Streei Level(Retail)Site Plan
Total required parking 137 Scale:I/32"=1'-0'
key
S07°55'46"E 361.87'
Ramp up 22 Elevator -
. - ... Ti ;
m 1
a
Retail
1'
i 31 1 , Retail
1,11
24 800'Sq.Ft, :0
T i O
a 1 y 0 6. 30'
s
3, Retail Retail Retail v Retail Retail Retail Retail Retail Retail Retail Retail
-6
2,134'Sq.Ft. 1,235'Sq.Ft 1,320'Sq.Ft. 2,120'Sq.Ft. .:
N07°55'O0"W 363.94' Sidewalk
/ i 1
0
1
10 =HC 10 �'HC HC 10
N.Jackson Avenue
o'1g
I I 4 ,
Er 733 t 10 {HC i 0 HC HC f I 1
x 2 I
Total retail 16,531'Sq.Ft. ,
Parking deck 39,485'Sq.Ft. i
Total living units 3rd floor 28,494'Sq,Ft. 33 units
Total living units 4th floor 28,494'Sq.Ft. 33 units
Total living units 56,988'Sq.Ft. 66 units
Total parking spaces at street 46
Total parking spaces at alley 46
Total parking spaces 2nd floor 98
Total parking spaces 190
MCCARTHY
Total required parking for retail 41 A sir 5555 .9,, d 5se_S 5n 5
Total required parking for living units 132 Street Level(Retail)Site Plan
Total required parking 173 Scale:l/37=1'-0"
Ay
507°5546"E 361.87'
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t 70 :
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`a Retail Retail 0
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A 1 ‘% 10,627 Sq.Ft. 10,645 Sq Ft.
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N.Jackson Avenue
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Total retail 21,272 Sq.Ft.
. :
Parking deck 15,581'Sq.Ft 1 7
i-J
Total living units 2nd floor 16.243'Sq.Ft. 19 units
Total living units 3rd floor 18,403'Sq.Ft. 22 units
Total living units 34,646'Sq.Ft. 41 units
Total parking spaces at street 84 8
Total parking spaces 2nd floor 43
Total parking spaces 127
Total required parking for retail 53 MCCARTHY ,---
Total required parking for living units 82 Wylie Dowse:Ave Weed Use-Screme C
Total required parking 135 Street Level(Retail)Site Plan
Scale:1/32"=1'-0"
w
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F
r �
- _ _
Space
r
- 9u
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90 Parking Spaces (n
Including Street Parking p
CD
3
