08-22-2005 (WEDC) Minutes Minutes
WYLIE ECONOMIC DEVELOPMENT CORPORATION
August 22, 2005
Board Members Present
Gary Bartow
Gary Bowland
Marvin Fuller
John Yeager
Merrill Young
Staff Present
Samuel Satterwhite, Executive Director
With notice of the meeting posted in time and manner required by law and a quorum of Board
members present, the Board of Directors of the Wylie Economic Development Corporation
(WEDC) met in Regular Session on July 27, 2005 in the Conference Room of Inwood National
Bank located at 200 South Highway 78, Wylie, Texas.
The meeting was called to order by President Marvin Fuller at 5:35 p.m.
ITEM NO. 1 — Consider and Act Upon Approval of the July 27,2005 Minutes for the Wylie
Economic Development Corporation (WEDC) Board of Directors Meeting.
MOTION: A motion was made by John Yeager and seconded by Gary Bartow to
approve the July 27, 2005 Minutes for the WEDC Board of Directors
Meeting. The WEDC Board of Directors voted 5 — FOR and 0 —
AGAINST in favor of the motion.
ITEM NO. 2 — Consider and Act Upon Approval of the July, 2005 Treasurer's Report for
the Wylie Economic Development Corporation.
MOTION: A motion was made by Merrill Young and seconded by,John Yeager to
approve the July, 2005 Treasurer's Report for the Wylie Economic
Development Corporation. The WEDC Board of Directors voted 5 —FOR
and 0—AGAINST in favor of the motion.
ITEM NO. 3 — Consider and Act Issues Surrounding an Interlocal Agreement Between the
City of Wylie and WEDC.
Staff informed the Board that the WEDC and the City Manager have agreed in concept to terms
surrounding an Interlocal Agreement. The WEDC will pay an annual amount of $1,000 for
financial services, $450, for trash service, $12,000 administrative assistance, and $1.00 for office
space. Additionally, the WEDC will be credited for its $10,000 contribution to the Facilities
Need Assessment Study. Staff indicated that the above terms would be brought to the Board for
formal consideration at the next WEDC Board meeting.
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August 22, 2005
Page 2 of 3
No action was taken on the above issue.
ITEM NO. 4 — Consider and Act Upon Issues Surrounding the WEDC Budget for FY 2005
—2006.
Following input from the July 27, 2005 WEDC Board meeting in which the first draft of the FY
2005 — 2006 budget was discussed, staff presented the final version of the WEDC budget for
review and consideration.
City of Wylie revenue estimates for sales tax receipts have been at $919,320, or a 7% gain over
FY 2004 — 2005. The WEDC fund balance has been estimated by staff $520,229 which
represents the largest reserve in the history of the WEDC. The primary reason for the size of the
reserve was a result of the sale of the Extruders site.
Future projects were set at $773,470 which represents unanticipated expenditures on as of yet
unidentified projects. Debt service is budgeted at $229,889 which includes Premier South and
associated improvements, purchase of the Ferrell site, and the Birmingham Land Trust note.
Expenses surrounding an Interlocal Agreement, which is a new budget category, have been
budgeted at $13,451. The advertising budget came in at $42,000 with the majority set aside for a
yet to be determined commercial ad campaign. Aside from the above, all other expenses were
presented by staff in line with previous year's budget.
MOTION: A motion was made by Gary Bartow and seconded by John Yeager to
approve the WEDC Budget for FY 2005 —2006 as presented. The WEDC
Board of Directors voted 5 — FOR and 0 — AGAINST in favor of the
motion.
ITEM NO. 5 — Executive Session. Convene into Executive Session to Hold Deliberations
Regarding Real Property (Purchase of Real Property within the Wylie community by the
WEDC) as Authorized in Section 551.072 if the Local Government Code, Vernon's Texas
Code Annotated (Open Meetings Act), and Hold Deliberations Surrounding Personnel
Matters (Evaluation of the Executive Director) as Authorized in the Local Government
Code, Section 551.074 all in Accordance with Government Code, Vernon's Texas
Annotated (Open Meetings Act).
The WEDC Board of Directors convened into Executive Session at 6:05 p.m.
ITEM NO. 6—Reconvene into Open Meeting.
The WEDC Board reconvened into Open Meeting at 7:25 p.m.
The consensus of the WEDC Board of Directors was to award a $4,000 raise to the Executive
Director. While the Board was pleased with the overall performance of staff, Board member
Bartow impressed upon staff the importance of delivering Board packets at least two days prior
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August 22, 2005
Page 3 of 3
to the Board meeting so that Board members will have ample time to review presented
information.
MOTION: A motion was made by Merrill Young and seconded by Gary Bartow to
increase the salary of the Executive Director by $4,000. The WEDC
Board of Directors voted 5 — FOR and 0 — AGAINST in favor of the
motion.
No action was taken as a result of discussions held in Executive Session surrounding real
property.
ITEM NO. 7— Citizen Participation.
There being no citizen participation, President Fuller proceeded to Item No. 8.
ITEM NO. 8—Adjourn.
There being no further business, the meeting was adjourned at 7:35 p.m.
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Marvin Fuller, President
Attest:
Samuel D.R. Satterwhite
Executive Director