09-14-1993 (WEDC) Minutes DIRECTORS OF DEVELOPMENT CORPORATION OF WYLIE, INC.
MINUTES
SEPTEMBER 14, 1993
The Directors of the Development Corporation of Wylie, Inc . met
in regular session at 4 : 00 P.M. on Tuesday, September 14 , 1993 in
the Development Corporation's office at 108 W. Marble, Wylie,
Texas . A quorum was present and notice of the meeting had been
posted in the time and manner required by law. Those present
were President Raymond Cooper, Vice President John Tobin,
Secretary/Treasurer John Yeager and member John Mondy. Executive
Director Charlie Womack, Mayor John Akin and City Manager Steve
Norwood were also present . In attendance from the City Staff was
Anita Collins . Tim Robinson was absent from the meeting.
President Raymond Cooper called the meeting to order .
DISCUSS AND CONSIDER APPROVAL OF MINUTES OF AUGUST 10, 1993
REGULAR MEETING: Item "B" of the executive session should show
Mr. Yeager making the motion and the motion being seconded
by Mr . Tobin. There being no other corrections to the minutes
John Yeager made a motion that they be approved, seconded by
John Tobin. The motion carried with all in favor.
DISCUSS AND CONSIDER APPROVAL OF TREASURER'S REPORT: Total
corporate funds available for investment as of August 31 , 1993
were $363 , 147 . 47 . Expenses for August were $4 , 936 . 47 and
revenues were $27 , 682 . 84 . A motion was made by John Yeager to
accept the Treasurer's Report as read and was seconded by John
Tobin. The motion carried with all in favor . (See attached
report at the end of these minutes) .
REPORT FROM EXECUTIVE DIRECTOR:
A. Physicians Regional Hospital Status Report - Mr . Womack
reported he has a copy of the hospital ' s reorganization
plan. The plan provides that the Development Corporation' s
loan will be repaid over a three year period at 5 1/2%.
The bankruptcy court must still approve the proposed payment
plan.
B. Major Employer Relocation Status Report - All plans
for a relocation have been postponed until after the first
of the year .
C. Jim Meara, D/B/A the Meara Company Status Report - Mr.
Meara reports that General Homes has completed their due-
diligence study and plans to sign a contract to buy the
forty-eight residential lots within a two (2) year period.
The contract should be signed by the middle of September.
The model home should be started by October 1 , 1993 .
D. Applied Powder Technologies , Inc . - No contact was made
during August . Mr . Chad has not returned my calls .
E. Roberts Manufacturing Company - Mr . Larry Doyle,
Distribution Facilities Manager for Roberts Manufacturing
Company reported the company is still making plans to
relocate but no definite decision will be made before next
year. The company is taking a wait and see attitude. They
are also considering another location. Mr . Doyle will keep
us informed.
F. Gerwin Corporation d/b/a The Merry Miler Company - The
corporation owns and operates several satellite companies
that convert vans and other vehicles for the tourist trade .
Their Garland facility was recently destroyed by fire . They
are looking for a 30 , 000 square foot building to
temporarily house their manufacturing facilities . No
facility was available, but they indicated a desire to move
from Garland if a satisfactory financial incentive package
was offered.
G. Westcon ' 93 Trade Show - Mr . Womack gave the board the
current status of this project .
APPROVE THE RESIGNATION OF MR. TIMOTHY S. ROBINSON AS A DIRECTOR
OF THE CORPORATION: President Cooper presented Mr. Robinson's
letter of resignation. Mr. Robinson' s business is such that at
this time he cannot serve on the board. John Yeager made a
motion to accept Mr. Robinson' s resignation, seconded by Mr.
Tobin. The motion carried with all in favor .
APPROVE THE FINAL PAYMENT OF OUR FEBRUARY 10 , 1993 COMMITMENT TO
REIMBURSE THE WYLIE CHAMBER OF COMMERCE FOR ADVERTISING EXPENSES:
No action was taken on this item since the Development
Corporation has not received an expense report from the Chamber
on their expenditures related to advertising for the Corporation.
APPROVE PAYMENT IN OCTOBER 1993 FOR AN ANNUAL MEMBERSHIP WITH THE
NORTH TEXAS COMMISSION: The board members discussed the pros and
cons of membership in this commission. Mr . Yeager made a motion
to approve payment for a membership in North Texas Commission.
Mr. Tobin seconded the motion. Mr . Mondy voted against the
approval . The motion carried with three in favor and one
against .
RECESS OPEN MEETING
CONVENE TO EXECUTIVE SESSION:
A. Status Report on Land Purchase and Current Negotiations
With Prospect to develop into Industrial Park .
B . Status Report on Our Loan Commitment to Wylie Machine Shop,
Inc .
ACTION FROM EXECUTIVE SESSION
A. No Action Taken
B. No Action Taken
CITIZEN PARTICIPATION: None
There being no other business for discussion a motion was made
and seconded that the meeting be adjourned.
Minutes of the September 14 , 1993 , regular meeting approved by
the Board of Directors at its meeting on October 12 , 1993 .
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PREPARED BY:
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Anita Collins