08-29-1994 (WEDC) Minutes Minutes
DEVELOPMENT CORPORATION OF WYLIE, INC.
Monday, August 29, 1994
The Directors of the Development Corporation of Wylie, Inc. met in called session at
4:00 PM on Monday, August 29, 1994 in the Council Conference Room at the
Municipal Complex, 2000 SH 78 N, Wylie, Texas. A quorum was present and notice
of the meeting had been posted in the time and manner required by law. Present
were directors John Yeager, Marvin Fuller, Irene Messenger and John Monday.
Director Tim Robinson and Executive Director Charlie Womack were absent.
Representing the City staff were Mike Collins, Administrative Assistant to the City
Manager and Secretary Barbara LeCocq.
The meeting was called to order by Acting President John Yeager.
ITEM NO. 1 - ELECTION OF OFFICERS. John Yeager was nominated for President
by John Monday. Nominations closed. Motion made by John Mondy to elect John
Yeager as President of the Development Corporation of Wylie, Inc. Seconded by
Marvin Fuller. All in favor, motion carried. John Monday was nominated as Vice-
President by Marvin Fuller. Nominations closed. Motion made by Marvin Fuller to
elect John Yeager as President of the Development Corporation of Wylie, Inc.,
seconded by Irene Messenger. All in favor, motion carried. John Monday nominated
Marvin Fuller as Secretary/Treasurer. Nominations closed. Motion made by John
Monday to elect Marvin Fuller as Secretary/Treasurer of the Development Corporation
of Wylie, Inc., seconded by Irene Messenger. All in favor, motion carried.
ITEM NO. 2 - DISCUSS AND CONSIDER A PROPOSAL OF $1725 FROM
HELMBERGER ASSOCIATES TO COMPLETE A PHASE I ENVIRONMENTAL AUDIT
OF 54+ ACRE TRACT. Mike Collins made a statement to the effect that this
environmental study is required to determine in there is any contamination to the land.
For a 25 year research, the cost is $1475, for a 50 year research the cost is $1725.
The consensus was that the additional 25 study would provide a margin of protection
and would justify the expenditure of the additional $250.00. A motion was made by
John Mondy to accept the proposal of $1725 for a 50 year research. Marvin Fuller
seconded the motion. All in favor, motion carried.
ITEM NO. 3 - DISCUSS AND CONSIDER A RESOLUTION authorizing the
submission of an APPLICATION OF RESERVATION TO THE TEXAS BOND
REVIEW BOARD in connection with a proposed project for UNIVERSAL DISPLAY &
FIXTURE COMPANY. Mike Collins stated that negotiations had been progressing for
the past two months with this prospect. The prospect had projected a $6. mil facility
of 300,00 sq ft and 350-400 employees ; however, due to increased construction
costs the project has been reduced to the $3 - $4.5 million range with approximately
175,000 sq. ft and 150-200 employees. Mr. Collins' presentation revealed that with
the difference in the percentage of tax abatement (20% vs 33%) the difference in the
monetary advantage to the City would not be greatly reduced. Total development cost
of the property will be $251,435.00, providing 30 additional acres of fully developed
industrial park. A motion was made by John Mondy to approve a Resolution
authorizing submission of an Application of Reservation to the Texas Bond Review
Board in connection with the proposed project for Universal Display & Fixture
Company. Seconded by Marvin Fuller. All in favor, motion carried.
ITEM NO. 4 - DISCUSS and CONSIDER an INDUCEMENT RESOLUTION for the
proposed INDUSTRIAL REVENUE BOND to be issued for the benefit of UNIVERSAL
DISPLAY & FIXTURE COMPANY. John Monday made the motion to approve the
Inducement Resolution for the proposed Industrial Revenue Bond to be issued for the
benefit of Universal Display & Fixture Company not to exceed $4.5 million. Seconded
by Marvin Fuller. All in favor, motion carried.
ITEM NO. 5 - CONSIDER APPOINTMENT OF A HEARING OFFICER FOR THE
FUTURE PUBLIC HEARING. Marvin Fuller made the motion to appoint Mike Collins
as the hearing officer for the future public hearing. Seconded by Irene Messenger.
All in favor, motion carried.
ITEM NO. 6 - CITIZEN PARTICIPATION. None.
ITEM NO. 7 - RECESS OPEN METING for the purpose of convening in Executive
Session under Section 551.072 of the Government Code - Personnel Discussion.
Open Meeting recessed.
ITEM NO. 8 - CONVENE EXECUTIVE SESSION.
ITEM NO. 9 - CONSIDER ACTION ON ITEM DISCUSSED IN EXECUTIVE SESSION.
A motion was made by John Mondy to increase Executive Director Charlie Womack's
monthly salary by $100.00. Motion seconded by Marvin Fuller. Vote as follows: John
Yeager - for; John Monday - for; Marvin Fuller - for; Irene Messenger - against.
Motion carried 3 in favor, one opposed.
ITEM NO. 10 - ADJOURN.
John Yeager, President
Attest:
Barbara LeCocq, Secretary
Minutes
DEVELOPMENT CORPORATION OF WYLIE, INC.
Tuesday, September 13, 1994
The Directors of the Development Corporation of Wylie, Inc. met in regular session at 4:00 PM on
Tuesday, September 13, 1994 in the Chamber of Commerce Board Room at 108 Marble St.,
Wylie, Texas. A quorum was present and notice of the meeting had been posted in the time and
manner required by law. Present were directors John Yeager, Marvin Fuller, and Irene Messenger.
Also present were Mike Collins, Administrative Asst. to the City Manager and Charlie Womack,
Executive Director of the Development Corporation of Wylie, Inc.
The meeting was called to order by President John Yeager.
ITEM NO. 1 - CONSIDER APPROVAL OF MINUTES FROM REGULAR MEETING HELD ON TUESDAY,
AUGUST 9, 1994. Marvin Fuller made a motion to approve the minutes as submitted. Irene
Messenger seconded the motion. All in favor, motion carried.
ITEM NO. 2 - CONSIDER APPROVAL OF MINUTES FROM CALLED MEETING HELD ON MONDAY,
AUGUST 29, 1994. Irene Messenger noted a correction on Item #9 to reflect an increase of 5%
effective on October 1, 1994. John Yeager noted misspelled name, should by "Mondy". A motion
was made by Marvin Fuller to approve the minutes as corrected, seconded by Irene Messenger. All
in favor, motion carried.
ITEM NO. 3 - REVIEW AND CONSIDER APPROVAL OF TREASURER'S REPORT ENDING AUGUST 31,
1994. The treasurer's report showed Total Income & Funds Available at $446,960.07. Expense
payments during month of $10,697.12. Money Market Funds available a/o August 31, 1994 of
$436,262.95. Petty Cash Balance 8/31/94 of $182.15. Total Corporate Funds 8/31/94 of
$436,445.10. A motion was made by Marvin Fuller to accept the Treasurer's Report as
submitted. Seconded by Irene Messenger. Motion carried, all in favor.
ITEM NO. 4 - REPORT FROM EXECUTIVE DIRECTOR. No inquiries were received during the month of
August from potential or relocation prospects. Discussion items included Physicians Regional
Hospital, Jim Meara d/b/a/ as The Meara Company; GiGi Foods, Inc.; Universal Display and Fixture
Co., Inc.;
ITEM NO. 5 - REVIEW COPY OF RECENT LEGAL OPINION RELATING TO TAX EXEMPT PROPERTY
OWNED BY AN ENTITY AUTHORIZED UNDER THE ECONOMIC DEVELOPMENT CORPORATION ACT
AND DISCUSS FUTURE ACTION. This discussion related to possible future action to challenge
Collin County's recent decision to deny tax exemption status to such real estate. Mr. Womack had
talked with David Pitstick of Allen and said all economic development groups had joined together to
hire an attorney to defeat any such action. The consensus of the discussion was to do nothing at
this time and wait to see the outcome of any action the above mentioned group may take.
DCW 091394
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