02-09-1993 (WEDC) Minutes DIRECTORS OF DEVELOPMENT CORPORATION OF WYLIE, INC.
MINUTES
FEBRUARY 9, 1993
The Directors of the Development Corporation of Wylie, Inc . met
in regular session at 4: 00 P.M. on Tuesday, February 9, 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 Jim Smith, Vice President James Blakey, Secretary
Treasurer John Yeager and members John Tobin and 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 .
President Jim Smith called the meeting to order.
DISCUSS AND CONSIDER APPROVAL OF MINUTES OF NOVEMBER 10, 1992
REGULAR MEETING : There being no corrections to the minutes John
Yeager made a motion that the minutes be approved as written. The
motion was seconded by John Tobin. The motion carried with all
in favor.
DISCUSS AND CONSIDER APPROVAL OF TREASURER'S REPORT: A motion to
accept the Treasurer's Report as read was made by John Tobin and
seconded by John Yeager. The motion carried with all in favor.
(See attached report at the end of these minutes) .
REPORT FROM EXECUTIVE DIRECTOR:
A. Status report of meeting with the principals of Physicians
Regional Hospital regarding the status of their loan for
which the Development Corporation has placed a Certificate of
Deposit for collateral . Their cash flow is looking better
and January commitments were made.
B. Current status report on American Molds , Inc . - no changes
or new information since the last report .
C. Current status report of discussions with a major employer
that may consider a possible relocation to Wylie -
negotiations and discussions are continuing with this major
employer.
D. Perma-Tune Inc . status report - no changes or new information
since the last report .
E. Update on Prison Negotiations - it appears to be a dead
issue with the City, however, Collin County is still showing
an interest in placing a prison in Collin County.
F. Report on 9th Annual Economic Outlook Conference - Charlie
Womack reported the highlights of the conference to the board
members .
G. Annual Financial and Activity Report - Mr. Womack went over
with the board the reports he had prepared for presentation
to the City Council .
REPRESENTATIVE FROM WYLIE CHAMBER OF COMMERCE TO PRESENT FOR
REVIEW AND APPROVAL THEIR 1993 ADVERTISING BUDGET: Mr. Ken Lane,
President of the Wylie Chamber of Commerce presented to the board
their budget for advertising projects . The Chamber is requesting
that the Development Corporation fund these projects with their
advertising budget . After a lengthy discussion of the pros and
cons a motion was made by John Yeager. The motion was as
follows :
That the board should make the $3 , 200 final installment on
the funds committed in 1992 and that the board make two
installments of $7 , 500 each in 1993 . The first installment
of $7 , 500 should be made in March of 1993 and the
second installment of $7 , 500 be made in September of 1993 .
The Chamber should make semi-annual accounting reports to
the Development Corporation.
The motion was seconded by John Tobin. The motion carried with
all in favor.
DISCUSS PURCHASE OF TICKETS TO THE ANNUAL WYLIE CHAMBER OF
COMMERCE BANOUET SCHEDULED FOR FEBRUARY 20, 1993: A motion was
made by James Blakey that the Development Corporation purchase
twelve (12) tickets to the banquet . The motion was seconded by
John Mondy and carried with all in favor .
RECESS OPEN MEETING
CONVENE TO EXECUTIVE SESSION:
A. Discuss status of possible land purchase.
The land has been taken off the market .
RECONVENE REGULAR MEETING
CITIZEN PARTICIPATION: None
There being no other business for discussion a motion was made
and seconded that the meeting be adjourned.
Minutes of the February 9 , 1993 , regular meeting approved by the
Board of Directors at its meeting on March 9, 1993 .
J ' Smith, President
PREPARED BY:
Anita Collins