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11-01-1999 (WEDC) Minutes Minutes WYLIE ECONOMIC DEVELOPMENT CORPORATION Monday, November 1, 1999 Board Members Present: Gary Bowland Marvin Fuller Kevin St. John John Yeager Staff Present: Samuel Satterwhite, Executive Director Ashley Gillean Others Present: Mike Collins, City Manager 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 November 1, 1999 in the Conference Room of Woodbridge Golf Club at 7400 Country Club Drive, Wylie, Texas. The meeting was called to order by President Yeager at 7:16 a.m. ITEM NO. 1 - Discuss and Consider Issues Surrounding the Conveyance of 17.206 Acres Within Premier Industrial Park to PANE (TX) QRS 14-26,Inc. (WP Carey& Co., Inc.). Staff presented the Loan Agreement between PANE (TX) and the WEDC within which the WEDC conveys 17.206 acres to PANE (WP Carey). PANE (TX) will own the property and construct a 205,300 square foot manufacturing facility to be leased to Extruders. Upon issuance of a certificate of occupancy and receipt of the lease between PANE (TX) and Extruders, the WEDC will forgive the two promissory notes associated with the Loan Agreement. MOTION: A motion was made by Kevin St. John and seconded by Marvin Fuller to approve a Loan Agreement with PANE (TX) QRS 14-26, Inc. and furthermore authorizing Mr. John Yeager , WEDC President, to sign all documents necessary to effectuate the sale of 17.206 acres within Premier Industrial Park to PANE (TX) QRS 14-26, Inc. The WEDC Board of Directors voted 4 -FOR and 0 -AGAINST in favor of the motion. WEDC - Minutes November 1, 1999 Page 2 ITEM NO. 2 - Discuss and Consider Issues Surrounding a Loan Agreement Between the Wylie Economic Development Corporation and the Extruders Division of Atrium Companies,Inc. As requested by Mr. George Frost, Extruders President, the Board disused issues surrounding a first right of refusal to be included within the Loan Agreement between Extruders and the WEDC. Staff commented that historically the WEDC has made available enough property for a company to double their square footage. Without consideration for parking requirements, Extruders currently can expand by approximately 50,000 square feet on the 17.206 acres being conveyed to PANE (TX). As presented in an attachment, Lot 3, Block B contains 8.035 acres and is located to the east and adjacent to the Extruders site. Although there are flood plane considerations to the east and southeast of the lot, the site will support a facility in excess of 50,000 square feet. Lot 3, Block B had originally been offered to Extruders as an incentive but was not accepted due to the tax liability of the property. Staff suggested that should a prospect be interested in purchasing Lot 3, Block B within Premier, the WEDC will inform Extruders in writing that they must consider exercising their first right of refusal. If the option is exercised, an independent appraiser will be selected by the WEDC to value the property. Extruders will then purchase the property for price determined by the appraiser. In no event will the value be less than $0.75 per square foot. If within 3 years Extruders completes an expansion of at least 50,000 square feet on the Option Property, the WEDC will refund the purchase price to Extruders less any accrued interest. MOTION: A motion was made by Kevin St. John and seconded by Gary Bowland to authorize the WEDC Executive Director to negotiate a first right of refusal with Extruders for Lot 3, Block B (8.035 acres) within Premier Industrial Park. The WEDC Board of Directors voted 4 - FOR and 0 - AGAINST in favor of the motion. ITEM NO. 3 - Discuss and Consider Issues Surrounding the Development of the Hoffman Blastroom Equipment Site. Staff indicated to the Board that Mr. Hoffman had several concerns regarding the development of his site. First of all, Mr. Hoffman believes there was a verbal agreement between himself and staff for a first right of refusal on property to the south of the Hoffman site. Staff indicated that there was no such agreement or comment ever made. Board member Bowland commented that this point is mute and requested the Board proceed. Secondly, Mr. Hoffman is concerned that screening, as required by the WEDC, to the east of the fabrication facility should not be of concern to the WEDC due of the size and position of the Extruders facility. Mr. St. John believed that the WEDC should not consider any changes to the First amendment to Loan Agreement. Mr. Fuller believed that Mr. Hoffman had a valid claim. Mr. Fuller indicated that the WEDC's intent in requiring±500 feet of screening to the east was to WEDC - Minutes November 1, 1999 Page 3 protect the site to the east of Hoffman from potentially unsightly outside storage. Now that the site to the east has been secured by Extruders, and Hoffman has built two quality buildings, the WEDC should have less of a concern over the screening. Staff suggested that Hoffman be required to approach the City of Wylie and determine the minimum landscaping requirements based upon the outside storage at the Hoffman site. Should the City requirement be less than required by the WEDC, the WEDC should consider that minimum requirement. Finally, the Hoffman site drains directly through Extruders property to the south. Mr. Hoffman inquired as to his options. Staff commented that Mr. Hoffman has made contact with Mr. Bob Day of Codel, Inc. The drainage issue is between Hoffman, Codel, and the City of Wylie. At this point, the WEDC has no role in these discussions. MOTION: A motion was made by Marvin Fuller and seconded by Gary Bowland to consider alternatives to the screening called for in the First Amendment to Loan Agreement between Hoffman and the WEDC following the receipt of minimum screening requirements for the Hoffman site from the City of Wylie. The WEDC Board of Directors voted 4 - FOR and 0 - AGAINST in favor of the motion. ITEM NO. 4 - Staff Reports. Staff briefly reviewed the strategic plan meeting held by the WEDC Board of Directors. One of the issues discussed was the relationship between the WEDC staff and the Development Services Department. Board Member Bowland reemphasized that anytime a business believes they are not treated fairly by Development Services, WEDC staff must get involved and determine what the problem is. With Mr. Collins present, staff commented that the WEDC wants to be of assistance to the City in working through problems within Development Services. Mr. Collins commented that there have been numerous instances over the past 12 - 18 months in which Development Services could have represented the City of Wylie in a more positive manner. Mr. Collins requested that the WEDC support the City in their effort to bring about consistency. Mr. St. John commented that problems with Development Services have continued for years and that consistency must be an immediate priority. Mr. St. John also commented that the WEDC wants to support the City in any way possible. WEDC - Minutes November 1, 1999 Page 4 ITEM NO. 5 - Adjourn. There being no further business, the meeting was adjourned at 8:32 a.m. John Y ager, President Attest: Samuel D.R. Satterwhite Executive Director