03-29-2000 (WEDC) Minutes Minutes
WYLIE ECONOMIC DEVELOPMENT CORPORATION
Wednesday, March 29, 2000
Board Members Present:
Gary Bowland
Marvin Fuller
Kevin St. John
John Yeager
Merrill Young
Staff Present:
Samuel Satterwhite, Executive Director
Ashley Gillean, Administrative Assistant
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 March 29, 2000 in the Woodbridge Golf Club Conference
Room at 7400 Country Club Dr., Wylie, Texas.
The meeting was called to order by Chairman Yeager at 7:00 a.m.
ITEM NO. 1 — Discuss and Consider Approval of Minutes for the February 22, 2000
Regular Board of Directors Meeting of the Wylie Economic Development Corporation.
MOTION: A motion was made by Kevin St. John and seconded by Gary Bowland to
approve the minutes of the February 22, 2000 Regular Board of Directors
Meeting of the Wylie Economic Development Corporation. The WEDC
Board of Directors voted 4 — FOR and 0 — AGAINST if favor of the
motion.
ITEM NO. 2—Discuss and Consider Approval of the January, 2000 Treasurer's Report for
the Wylie Economic Development Corporation.
MOTION: A motion was made by Kevin St. John and seconded by Merrill Young to
approve the January, 2000 Treasurer's Report for the Wylie Economic
Development Corporation. The WEDC Board of Directors voted 4 — FOR
and 0—AGAINST in favor of the motion.
ITEM NO. 3 — Discuss and Consider Approval of the February, 2000 Treasurer's Report
for the Wylie Economic Development Corporation.
MOTION: A motion was made by Merrill Young and seconded by Gary Bowland to
approve the February, 2000 Treasurer's Report for the Wylie Economic
Development Corporation. The WEDC Board of Directors voted 4 - FOR
and 0 - AGAINST in favor of the motion.
WEDC - Minutes
March 29, 2000
Page 2
ITEM NO. 4 — Discuss and Consider Issues Surrounding the Expansion of Sanden
International, (USA), Inc.
Staff reviewed with the Board a meeting which took place in November 1998, between WEDC
staff, Mr. Don Raburn, Mr. Rod Taylor, and City of Wylie staff. Expansion plans for the Sanden
facility were unveiled and a request for assistance was made to the City of Wylie and the WEDC.
The WEDC was asked to assist with the construction of a ±$300,000 road to be constructed from
Sanden Boulevard to the new die cast facility. Based upon the commitment of a $10 - $15
million investment, WEDC staff conveyed that the WEDC would consider assisting in every way
possible.
Currently, Mr. Taylor is requesting reimbursement for improvements made to Sanden
International, specifically with the cost of the road construction. Mr. Taylor identified the cost of
$320,000. Mr. St. John requested that staff provide the Board with a more detailed analysis of
the road improvements, specifically more detailed construction documentation.
MOTION: A motion was made by Kevin St. John and seconded by Gary Bowland for
the item to be tabled until the full of the Board is present to review the
issue. The WEDC Board of Directors voted 4 — FOR and 0 — AGAINST
in favor of the motion.
ITEM NO. 5—Discuss and Consider Issues Surrounding the Conditional Grant Agreement
Between Atrium Companies, Inc., Extruders Division and the Wylie Economic
Development Corporation.
On December 21, 1999 the WEDC entered into a Conditional Grant Agreement with Atrium
Companies, Inc., Extruders Division. Of particular interest to the WEDC at this time is Section
3, b(i) Option and First Right of Refusal. The entire southern tract within Premier was not
granted to Extruders initially because Extruders was not interested in the tax burden associated
with the additional acreage.
On March 20, 2000 staff delivered a letter to Mr. George Frost of Extruders indicating that a
Letter of Intent had been entered into between the WEDC and Cates Drives and Controls. As per
the Conditional Grant Agreement, Extruders has 30 days to respond to the WEDC in regards to
the notice and the option.
The above information was provided as an update to the WEDC Board of Directors. No action
was taken.
WEDC - Minutes
March 29, 2000
Page 3
ITEM NO. 6 — Discuss and Consider Issues Surrounding the Letter of Intent Between the
Wylie Economic Development Corporation and Rammrath Realty Ventures, Inc. (Cates
Drives and Controls).
Staff informed the Board that the Letter of Intent had been executed with Rammrath Realty
Ventures (Cates Drives and Controls), and that the majority of documentations deals with the
treatment of earnest money deposited with Commonwealth Land Title. Should Extruders release
all or a portion of the option property (8.035 acres), Cates will begin their due diligence on the
site and the WEDC will draft a Loan Agreement.
Board Member St. John instructed staff to incur no further legal expense prior to Cates final
commitment (completion of due dilligence) to occupy the site.
No action was taken.
ITEM NO. 7—Citizen Participation.
There being no citizens present, the Chairman proceeded to Item No. 8.
ITEM NO 8 - Adjourn.
There being no further business, the meeting was adjourned at 8:28 a.m.
(71r
7
John Y ager, President
Attest:
Samuel D.R. Satterwhite
Executive Director