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03-18-2020 (WEDC) Agenda Packet T = NOTICE OF MEETING ECONOMIC DEVELOPMENT CORPORATION Regular Meeting Agenda March 18, 2020— 7:30 A.M. WEDC Offices—Conference Room 250 South Highway 78—Wylie, Texas Demond Dawkins President John Yeager Vice President Melisa Whitehead Secretary Gino Mulliqi Treasurer Tim Gilchrist Board Member Mayor Eric Hogue Ex-Officio Member Chris Hoisted,City Manager Ex-Officio Member Jason Greiner Executive Director Angel Wygant BRE Director Rachael Hermes Senior Assistant In accordance with Section 551.042 of the Texas Government Code, this agenda has been posted at the Wylie Municipal Complex, distributed to the appropriate news media, and posted on the City Website: www.wylietexas.gov within the required time frame. CALL TO ORDER Announce the presence of a Quorum. INVOCATION & PLEDGE OF ALLEGIANCE CITIZEN PARTICIPATION Residents may address the WEDC Board regarding an item that is or is not listed on the agenda. Residents must provide their name and address. The WEDC Board requests that comments be limited to three (3) minutes. In addition, the WEDC Board is not allowed to converse,deliberate or take action on any matter presented during citizen participation. CONSENT AGENDA All matters listed under the Consent Agenda are considered to be routine by the WEDC Board of Directors and will be enacted by one motion. There will not be separate discussion of these items. If discussion is desired, that item will be removed from the Consent Agenda and will be considered separately. I. Consider and act upon approval of the February 19, 2020 Minutes of the WEDC Board of Directors Meeting. II. Consider and act upon approval of the March 2, 2020 Minutes of the WEDC Special Called Board Meeting. ACTION ITEMS III. Consider and act upon approval of the February 2020 WEDC Treasurer's Report. IV. Consider and act upon a Second Amended Promissory Note for American National Bank loan 88193982. WEDC—Agenda March 18, 2020 Page 2 of 3 V. Consider and act upon the award of bid for the F.M. 544 waterline extension to CalHar Construction, Inc. in the amount of$203,899 and further authorizing the Executive Director to execute any and all necessary documents. VI. Consider and act upon a WEDC Budget Transfer for FY 2019-2020. DISCUSSION ITEMS VII. Staff report: Impact DataSource, agenda structure, meeting dates, upcoming events, and review issues surrounding WEDC activities and programs. EXECUTIVE SESSION If during the course of the meeting covered by this notice, the Wylie Economic Development Corporation(WEDC) should determine that a closed or executive meeting or session of the WEDC Board, or a consultation with the attorney for the City, should be held or is required, then such closed or executive meeting or session or consultation with attorney as authorized by the Texas Open Meetings Act, Texas Government Code§551.001 et. seq., will be held by the WEDC Board at the date, hour, and place given in this notice as the WEDC Board may conveniently meet in such closed or executive meeting or session or consult with the attorney for the City concerning any and all subjects and for any and all purposes permitted by the Act, including, but not limited to, the following sections and purposes: Texas Government Code Sections: §551.071 —Private consultation with an attorney for the City. §551.072—Discussing purchase, exchange, lease or value of real property. §551.074—Discussing personnel or to hear complaints against personnel. §551.087—Discussing certain economic development matters. §551.073—Discussing prospective gift or donation to the City. §551.076—Discussing deployment of security personnel or devices or security audit. Section 551.072 (Real Estate) of the Local Government Code, Vernon's Texas Code Annotated (Open Meetings Act). Consider the sale or acquisition of properties located at: • State Highway 78 & F.M. 544 • State Highway 78 & Brown • Jackson & Oak • State Highway 78 & Wylie East Section 551.087 (Economic Development) of the Local Government Code, Vernon's Texas Code Annotated(Open Meetings Act). Deliberation regarding commercial or financial information that the WEDC has received from a business prospect and to discuss the offer of incentives for: • Project 2017-10a • Project 2018-2a • Project 2018-1Oc • Project 2019-8b WEDC—Agenda March 18, 2020 Page 3 of 3 • Project 2019-1 lb • Project 2019-12a • Project 2019-12b • Project 2019-12c • Project 2020-2e RECONVENE INTO OPEN MEETING Take any action as a result from Executive Session ADJOURNMENT CERTIFICATION I certify that this Notice of Meeting was posted on this 13`h day of March 2020 at 5:00 p.m. as required by law in accordance with Section 551.042 of the Texas Government Code and that the appropriate news media was contacted. As a courtesy, this agenda is also posted on the City of Wylie website: www.wylietexas.gov. Stephanie Storm,City Secretary Date Notice Removed Minutes Wylie Economic Development Corporation Board of Directors Meeting Wednesday, February 19, 2020—7:30 A.M. WEDC Offices—Conference Room 250 South Highway 78 —Wylie, Texas CALL TO 0 ' I ER Announce the presence of a Quorum President Demond Dawkins called the meeting to order at 7:31 a.m. Board Members present were John Yeager and Melisa Whitehead. Ex-officio member City Manager Chris Hoisted was present. WEDC staff present was Executive Director Jason Greiner, BRE Director Angel Wygant, and Senior Assistant Rachael Hermes. INVOCATION & PLEDGE OF ALLEGIANCE Board Member Yeager gave the invocation and led the Pledge of Allegiance. CITIZEN PARTICIPATION With no citizen participation, President Dawkins moved to Action Items. ACTION ITEMS ITEM NO. I — Consider and act upon approval of the January 24, 2020 Minutes of the WEDC Board of Directors Meeting. MOTION: A motion was made by Melisa Whitehead and seconded by John Yeager to approve the January 24, 2020 Minutes of the Wylie Economic Development Corporation. The WEDC Board voted 3 — FOR and 0—AGAINST in favor of the motion. ITEM NO. II — Consider and act upon approval of the January 2020 WEDC Treasurer's Report. MOTION: A motion was made by John Yeager and seconded by Melisa Whitehead to approve the January 2020 Treasurer's Report for the Wylie Economic Development Corporation. The WEDC Board voted 3 —FOR and 0—AGAINST in favor of the motion. WEDC—Minutes February 19, 2020 Page 2 of 4 ITEM NO. III — Consider and act upon authorizing the WEDC Board President to execute all documentation necessary to effectuate the transaction between the WEDC and WB Real Estate for the sale of a 1.4-acre property located on Highway 78. Staff updated the Board, noting that there had been unforeseen changes to the closing timeline and that the anticipated closing date was February 20, 2020. MOTION: A motion was made by John Yeager and seconded by Melisa Whitehead to authorize the WEDC Board President to execute all documentation necessary to effectuate the transaction between the WEDC and WB Real Estate for the sale of a 1.4-acre property located on Highway 78. The WEDC Board voted 3 —FOR and 0—AGAINST in favor of the motion. ITEM NO. IV- Consider and act upon amending the WEDC Bylaws. Staff noted the previously discussed Resolution that had been presented to Council, which would limit Board and Commission Members to serving no more than three(3) consecutive terms. Board Member Whitehead expressed the desire to have all WEDC Board Members present to discuss the Item. Staff also explained that it could be discussed at the joint City Council/WEDC Work Session. Staff noted that the Parks & Recreation Board, as an example, had made an amendment to their Bylaws. Staff reiterated that this was an Item for consideration by the Board with no recommendation by Staff. City Manager Chris Hoisted noted that there were a couple of Boards that did not make amendments because their Bylaws dictate the function of the Board(s), but that it could be an opportunity to review for any needed amendments, if necessary. MOTION: A motion was made by Melisa Whitehead and seconded by John Yeager to table the discussion until after the upcoming Joint Work Session with City Council. The WEDC Board voted 3 — FOR and 0 —AGAINST in favor of the motion. DISCUSSION ITEMS ITEM NO. V — Staff report: review issues surrounding WEDC Performance Agreement Summary, Hotel Occupancy Tax, Redevelopment Updates & Engineering Services, ANB Loan, Impact DataSource,Agenda Structure,Meeting Dates, upcoming events,and regional housing starts. Board Member Mulliqi arrived at 7:44 a.m. at the opening of discussion. Staff began the discussion noting that he is open to any feedback from the Board in relation to the presentation/frequency of updates within the Staff Report. Staff noted the highlights found within the Staff Report and focused attention on redevelopment updates and engineering services throughout the City. Staff explained the desire to compile the redevelopment projects into one document, with the inclusion of cost estimates, to provide thorough status updates for the Board. Staff informed the Board that the ANB loan will be going to committee on February 20th with a request for continuation of the interest-only loan payments, noting that it is renewable twice for WEDC —Minutes February 19, 2020 Page 3 of 4 six (6) month terms each, with a possible additional renewal if we are near a real estate closing at that time. Regarding Impact DataSource, Staff informed the Board that there will be a more formal presentation at an upcoming Board meeting, noting that it would also be utilized during Executive Session for the current meeting as projects are looked at in real-time using appraised values and numbers in the system. Staff noted that they had been in contact with the City Manager and the Attorney's office regarding agenda structure and best practices for providing more updates for the Board within Executive Session. Staff noted that there may be changes made to the memo in preference to an Agenda Report, as well as possible changes to the Treasurer's Report based on recommendations from the Finance Department. Staff informed the Board that Finance Director, Melissa Beard, may be able to provide additional information to the Board at a later date in regard to best practices. Staff proposed that the Board consider an additional meeting to be scheduled prior to the regularly scheduled meetings to expedite and streamline the process of projects being brought to the WEDC Board and City Council. Related to upcoming events, Staff noted a possible Special Called Board meeting the first week of March, as well as the upcoming Work Session with City Council. Staff also informed the Board of the upcoming presentation by Retail Coach, which will be held prior to ISCS RECon. Staff also noted potential changes to Staff Reports and requested that the Board consider what information they would like to see on a monthly basis versus periodically or quarterly. Staff discussed utilizing the Staff Report to highlight the overall efforts of WEDC within the community. The Board agreed that routine updates could be shared on a quarterly basis, with the understanding that notable project updates would be brought back with more frequency,as needed. Board Member Gilchrist arrived at 7:53 a.m. ITEM NO. VI — Discussion of issues to be placed on future WEDC Board Meeting agenda (no substantial consideration/discussion allowed). No Board Member requested that an item be placed on a future agenda. EXECUTIVE SESSION Recessed into Closed Session at 8:00 a.m. in compliance with Section 551.001, et. seq. Texas Government Code, to wit: Section 551.072 (Real Estate) of the Local Government Code, Vernon's Texas Code Annotated (Open Meetings Act). Consider the sale or acquisition of properties located at: • State Highway 78 & F.M. 544 • State Highway 78 & Brown • Jackson& Oak • State Highway 78 & Wylie East WEDC—Minutes February 19, 2020 Page 4 of 4 • Ballard& College Section 551.087 (Economic Development) of the Local Government Code, Vernon's Texas Code Annotated (Open Meetings Act). Deliberation regarding commercial or financial information that the WEDC has received from a business prospect and to discuss the offer of incentives for: • Project 2017-10a • Project 2018-2a • Project 2018-10c • Project 2019-12a • Project 2020-2a • Project 2020-2b • Project 2020-2c RECONVENE INTO OPEN MEETING Take any action as a result from Executive Session The WEDC Board of Directors reconvened into open session at 9:25 a.m. and took the following action: MOTION: A motion was made by Gino Mulliqi and seconded by John Yeager to authorize the Wylie Economic Development Corporation to enter into a Performance Agreement with Ken Ross, Inc. providing for the sale of .41 acres located on Cooper Drive owned by the WEDC under the terms of a forgivable loan and the provision of additional assistance in an amount not to exceed $10,000. The WEDC Board voted 5 — FOR and 0 — AGAINST in favor of the motion. ADJOU" MENT With no further business, President Dawkins adjourned the WEDC Board meeting at 9:26 a.m. Demond Dawkins, President ATTEST: Jason Greiner, Executive Director Minutes Wylie Economic Development Corporation Board of Directors Meeting Monday, March 2, 2020—7:30 A.M. WEDC Offices—Conference Room 250 South Highway 78—Wylie, Texas CALL TO 0 ' I ER Announce the presence of a Quorum Vice President John Yeager called the meeting to order at 7:35 a.m. Board Members present were Melisa Whitehead, Gino Mulliqi, and Tim Gilchrist. Ex-officio member City Manager Chris Holsted was present. WEDC staff present was Executive Director Jason Greiner, BRE Director Angel Wygant, and Senior Assistant Rachael Hermes. INVOCATION & PLEDGE OF ALLEGIANCE Board Member Yeager gave the invocation and led the Pledge of Allegiance. CITIZEN PARTICIPATION No citizens were present for participation. EXECUTIVE SESSION Recessed into Closed Session at 7:36 a.m. in compliance with Section 551.001, et. seq. Texas Government Code, to wit: Section 551.072 (Real Estate) of the Local Government Code, Vernon's Texas Code Annotated (Open Meetings Act). Consider the sale or acquisition of properties located at: • State Highway 78 & F.M. 544 • State Highway 78 & Brown • Jackson& Oak • State Highway 78 & Wylie East • Ballard & College Section 551.087 (Economic Development) of the Local Government Code, Vernon's Texas Code Annotated(Open Meetings Act). Deliberation regarding commercial or financial information that the WEDC has received from a business prospect and to discuss the offer of incentives for: • Project 2017-10a • Project 2018-2a • Project 2018-10c • Project 2019-8b • Project 2019-12a WEDC—Minutes March 2, 2020 Page 2 of 2 • Project 2020-2a • Project 2020-2b • Project 2020-2c • Project 2020-2e Vice President Yeager left the meeting at 7:59 a.m. and returned at 8:06 a.m. due to a conflict of interest. RECONVENE INTO OPEN MEETING Take any action as a result from Executive Session The WEDC Board of Directors reconvened into open session at 9:08 a.m. and took no action as a result of discussions held within Executive Session ADJOU' MENT With no further business, Vice President Yeager adjourned the WEDC Board meeting at 9:08 a.m. Demond Dawkins,President ATTEST: Jason Greiner, Executive Director r A V 4 r ECONOMIC DEVELOPMENT CORPORATION Wylie Economic Development Board k a. A 0 0 al 1 la - 11 w Meeting Date: March 18, 2020 Item Number: 3 Department: WEDC (Staff Use Only) Prepared By: Angel Wygant Account Code: Date Prepared: March 16, 2020 Exhibits: 1 Subject Consider and act upon approval of the February 2020 WEDC Treasurer's Report. Recommendation Motion to approve the February 2020 WEDC Treasurer's Report. Discussion Presented for the Board's review and approval is the February 2020 Treasurer's Report detailing the month and year-to-date financial transactions and performance against budget. The new format is consistent with the formatting utilized by the City of Wylie Finance Department to report to City Council monthly. It is designed to provide all pertinent financial information in a concise form. Staff is seeking WEDC Board feedback and input on this revised format. REVENUES: Sales Tax Revenue earned in January, allocated in March, was $228,091, an increase of 9.54% over the same period in 2019. Staff will monitor Sales Tax revenues moving forward and anticipates a short-term reduction in sales tax due to the potential retail impact of COVID-19. EXPENSES: Incentives Exco Extrusion Dies final incentive of $20,0000 was paid leaving one remaining loan forgiveness payment which will be paid in February 2021. Clark Street Development quarterly Sales Tax reimbursement in the amount of$34,538 was also paid representing a 14% increase of the same quarter in 2019. In February Clark Street Development reported $97,652 in sales tax receipts, an increase of 7% over the same period in 2019. Special Services $12,500 - Retail Coach consulting agreement. Engineering $12,457 - Engineering services associated with the 544 Gateway property roadway planning. Page 1 of 1 Wylie Economic Development Corporation MONTHLY FINANCIAL REPORT February 29, 2020 ANNUAL CURRENT YTD ACTUAL MONTH BUDGET ACTUAL YTD ACTUAL PERCENT ACCOUNT DESCRIPTION 2019-2020 2019-2020 2019-2020 OF BUDGET REVENUE SUMMARY CLAIM ON CASH 286,072 1,079,329'. SALES TAX 2,948,400 362,129 807,313'„ 27.38% ALLOCATED INTEREST EARNINGS 6,000 0 1,9571 32.61% RENTAL INCOME 155,040 18,860 70,092,; 45.21% GAIN/LOSS-SALE OF PROPERTY 1,782,226 0 0" 0.00% BANK NOTE PROCEEDS 0 0 996,5001, REVENUES 5,177,738 380,989, 2,955,191 57.07%' EXPENDITURE SUMMARY PERSONNEL 440,285 40,0081 302,614 68.73o/o. OPERATING EXPENSES 59,509 4,834 19,967 33.55%'' 1INCENTIVES 551,291 54,538 337,540 61.23% SPECIAL SERVICES 120,871 14,104 80,608 66.69% ADVERTISING 137,600 9,873 22,118 16.07% COMMUNITY DEVELOPMENT 43,350 6,136 29,870 68.90% TRAVEL &TRAINING 31,317 1,347 9,747 31.12% DUES & SUBSCRIPTIONS 19,567 395 10,890 55.65% AUDIT& LEGAL 23,000 3,099 9,241 40.18% ENGINEERING &ARCHITECTURAL 15,000� 12,457 16,825 112.16% DEBT SERVICE 2,267,432 85,074', 303,2251 13.37%', LAND 100,164 5,0001' 867,0291 865.61%1 INFRASTRUCTURE PROJECTS 573,000 9,499' 563,501 98.34%'' TOTAL EXPENDITURES 3,942,101 206,355 2,250,588 57.09% REV OVER/(UNDER) EXPEN 1,235,637 704,602 A. Sales Tax received for 3 months of FY due to 2 month accrual to prior FY.. B. Remaining funds drawn on ANB loan 88193982 approved in FY 18-19 to fund Hwy 78 & Brown properties. C. Operating Expenses include Supplies, Rental, Communication, Insurance and Utilities. D. Incentives paid in February include Exco Extrusion and Clark Street Development Sales Tax Reimbursement. E. Overage due to Engineering Services for FM 544 Gateway projects, Sales Tax Revenue earned in January, allocated in March, was$228,091, an increase of 9.54% over the same period in 2019. WYLIE ECONOMIC DEVELOPMENT CORPORATION SALES TAX REVENUE FOR THE MONTH OF FEBRUARY 2020 MONTH WEDC WEDC WEDC WEDC DIFF % DIFF 2017 2018 2019 2020 19VS20 19VS20 DECEMBER $197,808 $184,849 $214,867 $226,664 $11,797 5.49% JANUARY 196,347 191,896 223,750 218,520 -5,229 -2.34% FEBRUARY 276,698 275,668 307,367 362,129 54,763 17.82% MARCH 191,648 182,852 208,222 228,091 $19,869 9.54% APRIL 168,844 163,485 182,500 MAY 244,816 203,707 274,299 JUNE 191,732 199,412 234,174 JULY 223,571 213,977 215,108 AUGUST 261,573 249,590 283,603 SEPTEMBER 210,974 213,426 243,048 OCTOBER 195,549 210,702 224,875 NOVEMBER 267,816 273,197 308,324 Sub-Total $2,627,376 $2,562,759 $2,920,137 $1,035,405 $81,199 8.22% AUDIT ADJ TOTAL $2,627,376 $2,562,759 $2,920,137 $1,035,405 $81,199 8.22% WEDC SALES TAX ANALYSIS $400,000 $350,000 $300,000 $250,000 l�,; , �r � 11 $200,000 » wn Ik° �k ti rk �2i7i 01 ^ ` a m2020 $150,000 71* 11 \I q IN rk km S4" P uw, $100,000 k"awk 0) LT 7 f0.5 , T N T N E E O E 1 Q 11 .- - 0 a O Z N ECONOMIC CDEVELOPMENTCORPORA ON WylieC O 1C eV O t Oar B ID Meeting Date: March 18, 2020 Item Number: 4 Department: WEDC (Staff Use Only) Prepared By: Jason Greiner Account Code: Date Prepared: March 16, 2020 Exhibits: Subject Consider and act upon a Second Amended Promissory Note for American National Bank loan 88193982. Recommendation Motion to approve a Second Amended Promissory Note for American National Bank loan 88193982 and authorize the WEDC Board President to execute any and all necessary documentation to effectuate the Amendment. Discussion Per direction from the WEDC Board of Directors, WEDC staff requested a 6-month extension of interest-only payments associated with loan number 88193982. Presented for consideration and approval by the WEDC Board is a Second Amended Promissory Note which provides for interest-only payments thru August 12, 2020. Attached: Second Amended Promissory Note Page 1 of 1 SECOND AMENDED PROMISSORY NOTE $4`500,000 December l2, ZDl# Terrell,Texas FOR VALUE RECEIVED, the undersigned, The Wylie Economic Development Corporation, a Texas non-profit corporation (the "Maker"), promises to pay to the order of The American National Bank of Texas (the "Bank") the sum of $4,500L000, together with interest on the principal balance from time to time remaining unpaid prior to maturity as set forth below (this "Note"). All sums are payable at 102VV. Moore Avenue, P.O. Box 4O, Terrell, Kaufman County, Texas 75160, or such other place as the holder of this Note may designate in writing. 1. Interest Rate Interest will be calculated on an initial 365/360days accrual and will be computed from the date mfthis Note until the Maturity Date. As long as no Event ofDefault exists, the interest rate is fixed at 5.2596. All past-due installments of principal shall bear interest at fifteen percent (1596) per annunn. During the existence of any Event of Default under this Note or any instrument securing or evidencing the loan evidenced by this Note, the entire unpaid balance of principal shall bear interest at fifteen percent (l5%) per annunn. 2. Payment mfInterest For the first twenty (20) months of this Note interest only payments will be due monthly beginning on January 13, 2019, and continuing on the 12th day ofeach month thereafter through August 13, 302O. 3. Payment mfInterest and Principal Principal and interest are due and payable in thirty nine (39) equal monthly installments of Forty Eight Thousand Four Hundred Forty Seven and 70/100 Dollars ($48,447.70), beginning on September 23, 2020, and continuing on the 12th day ofeach month thereafter until the Maturity Date when the final payment of all remaining principal and accrued but unpaid interest will be due and payable. Payments will be applied first to accrued interest and the remainder tm reduction of the Principal Amount. 4. Maturity Date This Note Matures on December 13, 2033, when all unpaid principal and interest shall become due and payable, unless the Bank has exercised its right to accelerate the maturity of this Note in the event of an uncured Event of Default by the Maker. 1 , S. Security for this Note This Note is secured by a Security Agreement of even date herewith between the Maker and the Bank creating a lien upon sales and use tax revenues mf the Maker. 6. Default At the option of the holder of this Note the entire principal balance and accrued interest owing shall at once become due and payable on the occurrence at any time of any of the following Events of Default and the continuation of the same for ten (10) days with respect to a payment of principal or interest hereunder, and for thirty (30) days with respect to any default after receipt of the Maker of written notice of any of the following Events of Default: /a\ Default in the performance of any installment of principal or interest due under this Note, the Loan Agreement, the Security Agreement, or any other agreement ' evidencing or securing the loan evidenced by this Note. b) The liquidation,termination, or dissolution of the Maker. c) Any party liable for the payment of this Note, whether as Mahar, endorser, guarantor, surety, or otherwise suffers, makes, does, or allows to be suffered, made, or done on its behalf any mf the following: i Bankruptcy orinsolvency; U. Any assignment for the benefit of creditor of any property belonging to the individual mr entity in question; mr Ui The appointment ofa receiver for any property of the individual in question. 7. Waiver To the extent allowed by applicable |am4 and except as provided herein and in the Loan Agreement, the Maker, sureties, and endorsers of this Note severally waive demand, presentment, notice of dishonor, diligence in collecting, grace, and notice of protest, notice of intent to accelerate, and notice of acceleration and agree to all renewals, extensions, and partial payments before or after maturity without prejudice totheho|der. 8. Attorney`sFmem If this Note is not paid at maturity and is placed in the hands of an attorney for collection, or if it is collected through a bankruptcy or any other court, whether before or after maturity,then the holder shall be entitled to all costs of collection, including, but not limited to, reasonable attmrney'sfees. 2 9. Prepayment This Note may be prepaid in part or in whole at any time without premium or penalty provided that the Maker gives three (3) Business Days prior notice to the Bank of such prepayment. 10. Receipt mfInterest Clause All agreements between the Maker of this Note and the holder are expressly limited so that in no event shall the amount paid, or agreed to be paid, to the holder of this Note for the use, forbearance, or detention of the money to be loaned under this Note exceed the maximum amount permissible under applicable law. If, from any circumstances, fulfillment of any provision of this Note at the time performance of such provision is due shall involve transcending the limit of validity prescribed by law, then, ipso facto, the obligation to be fulfilled shall be reduced to the limit of such validity. Determination of the rate of interest for the purpose of determining whether it is within the rnaninmunn amount permissible under applicable law shall be made byamortizing, prorating, allocating, and spreading, in equal parts during the period of the full stated term of the loan, all interest at any time contracted for, charged, or received from the Maker inconnection with this Note. If from any circumstances the holder of this Note should ever receive as interest an amount that would exceed the highest lawful rate, any amount that would be excessive interest shall be applied to the reduction of the principal amount owing under this Note and not to the payment of interest, or shall be refunded to the Maker Vf this Note. 11. Gender Words of either gender used i n this Note shall be construed to include the other gender and the neuter state, and words in the singular number shall be held to include plural, and vice versa, unless the context requires otherwise. 12. Governing Law and Venue This Note is being executed and delivered and is intended to be performed in the State of Texas. Except to the extent that the laws of the United States may apply to the terms hereof, the substantive laws of the State of Texas shall govern the validity, construction, enforcement, and interpretation of this Note. In the event of a dispute involving this Note or any other instruments executed in connection herewith, the undersigned irrevocably agrees that venue for such dispute shall lie in any court of competent jurisdiction in Kaufman County,Texas. 13. Waiver of Trial by Jury THE MAKER HEREBY AGREES NOT TO ELECT A TRIAL 0YJURY OF ANY ISSUE�TRIABLE OF RIGHT BY JURY,AND WAIVES ANY RIGHT TO TRIAL BY JURY FULLY TO THE EXTENT THAT_BANY EXIST WITH ANY _SUCH RIGHT SHALL NOW OR HEREAFTERA NOTE AND/OR OTHER LOAN ENT,^OR.ANY CLAIM, COUNTERCLAIM OR OTHEIRACTION ARISING IN. CONNECTION THEREWITH. THIS �F RIGHT �O TRIAL BY JURY IS GIVEN ��� � ��� � ��� �� _ � � � � �� � KNOWLINGLY AND VOLUTARILY BY THE MAKER, AND IS INTENDED TO ENCOMPASS INDIVIDUALLY EACH INSTANCE AND EACH ISSUE AS TO WHICH THE RIGHT OF TRIAL BY JURY WOULD OTHERWISE ACCRUE. THE PAYEE IS HEREBY AUTHORIZED TO FILE A COPY OF THIS PARAGRAPH IN ANY PROCEEDING AS CONCLUSIVE EVIDENCE OF THIS WAIVER BY THE MAKER. IN WITNESS WHEREOF, the undersigned has executed this Note effective as of December 12, 2018. MAKER: WYLIE ECONOMIC DEVELOPMENT CORPORATION, a Texas non-profit corporation By: Demond Dawkins, President 4 N ORPO ON Wylie Economic Development Board ECONOMIC DEVELOPMET CRATI A s A • Meeting Date: March 18, 2020 Rem Number: 5 Department: WEDC (Staff Use Only) Prepared By: Jason Greiner Account Code: Date Prepared: March 10, 2020 Exhibits: Subject Consider and act upon the award of bid for the F.M. 544 waterline extension to CalHar Construction,Inc. in the amount of $203,899,and further authorizing the Executive Director to execute any and all necessary documents. Recommendation Motion to award bid to CalHar Construction, Inc. in the amount of $203,899, and further authorizing the Executive Director to execute any and all necessary documents. Discussion At the January 24th WEDC Board Meeting, WEDC staff presented various development issues pertaining to the 544 Gateway Property. The overall complexities associated with providing a looped waterline for this development have proven to be more challenging than expected. As the Board will recall, this waterline extension runs from Cooper, west down FM 544 and under the railroad tracks. This infrastructure project is needed to develop the 544 Gateway Property and to provide adequate utilities for both the WEDC and the City Properties generally located at 802 West Kirby St. WEDC staff hoped to receive three bids, however, only two for the 544-waterline extension were submitted. CalHar Construction, Inc. - $203,899.00 Powell Construction, Inc. - $245,004.50 Additional anticipated costs that are not included in this bid: • JLL &KCS Permits - $9,375 * Mobilization- $2,000 * Observer- $1,500 per day (est. 10 days) • Flagmen - $1,000 per day (est. 10 days) • City of Wylie testing - TBD Page 1 of 1 • \VVJ .4 ECONOMIC DEVELOPMENT CORPORATION Wylie Economic Development Board 0 * k Meeting Date: March 18,2020 Rem Number: 6 Department: WEDC (Staff Use Only) Prepared By: Angel Wygant Account Code: Date Prepared: March 10, 2020 Exhibits: Subject Consider and act upon WEDC Budget Transfer Request for FY 2019-2020. Recom m end ation Motion to approve Budget Transfer Requests for FY 2019-2020. Discussion To accommodate unanticipated revenues and expenses associated with recent land acquisition, infrastructure projects, and adjustments for non-capital equipment, the attached budget transfers are required for the FY 2019- 2020 Budget. In addition, staff is working with City of Wylie Finance to prepare a mid-year Budget Amendment to allocate proceeds from the WB Real Estate transaction and fund pending infrastructure projects. Page 1 of 1 BTR# 2020-EDC-1 City of Wylie Budget Transfer Request Col(I)Current Col(2) Col(3) Col(1+2-3)Adjusted Account Number Account Description Budget Increase Decrease Budget 111-5611-54810 Materials/Computer Hardware&Software * 3,000 4,000 - 7,000 111-5611-58810 Capital/Computer Hardware&Software 1,000 1,000 111-5611-56570 Engineering/Architecture ** 15,000 20,000 35,000 111-5611-56040 Special Services'** 120,871 - 23,000 97,871 TOTALS(MUST EQUAL) 24,000 24,000 DESCRIPTION/JUSTIFICATION; *Funds moved from Capital Account to non-Capital account for computer hardware. $3,000 moved from Special Services to fund laptop computers in preparation for the need to work remotely, **Engineering/Architecture-544 Gateway Engineering Services *** Funds moved from Special Services-$3,000 to computer equipment;$20,000 for Engineering/Architecture. DEPARTMENT HEAD SIGNATURE DEPT# DATE FINANCE COMMENTS: FINANCE DIRECTOR: Approved:®Yes No DATE CITY MANAGER: Approved:®Yes No DATE BUDGET MANAGER Reviewed®Yes DATE ECONOMIC DEVELOPMENT CORPORATION Wylie Economic Development Board A 111 A 41 II • II Meeting Date: March 18,2020 Item Number: 7 Department: WEDC (Staff Use Only) Prepared By: Jason Greiner Account Code: Date Prepared: March 10 2020 Exhibits: Subject Staff report: Impact DataSource, agenda structure, meeting dates, upcoming events, and review issues surrounding WEDC activities and programs. Recommendation No action is requested by staff for this item. Discussion Staff will lead a discussion regarding current and future agenda structure, possible meeting dates, upcoming/canceled events due to COVID-19,and review of WEDC activities and programs. Page 1 of 1