Loading...
06-17-2020 (WEDC) Agenda Packet T = NOTICE OF MEETING ECONOMIC DEVELOPMENT CORPORATION Regular Meeting Agenda June 17, 2020— 8:30 A.M. Wylie Municipal Complex—Council Conference Room 300 Country Club Road, Building#100 Wylie, Texas 75098 Demond Dawkins President John Yeager Vice President Melisa Whitehead Secretary Gino Mulligi 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 Rachaei 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. A. Consider and act upon approval of the May 22,2020 Minutes of the WEDC Board of Directors Meeting. B. Consider and act upon approval of the May 2020 WEDC Treasurer's Report. ACTION ITEMS 1. Consider and act upon issues surrounding the disposition of WEDC property located at 204 N. 2nd Street and 503 S. Ballard. WEDC—Agenda June 17, 2020 Page 2 of 3 2. Consider and act upon issues surrounding the underground utilities located at 350 South Highway 78. DISCUSSION ITEMS 3. Discuss issues surrounding the FY 2020-2021 WEDC Budget. 4. Staff report: WEDC Property Update,FBC Rodeo,Downtown Parking,WEDC Activities and Programs, Retail Coach Update. 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. §551.073—Discussing prospective gift or donation to the City. §551.074—Discussing personnel or to hear complaints against personnel. §551.076—Discussing deployment of security personnel or devices or security audit. §551.087—Discussing certain economic development matters. 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 & Brown • State Highway 78 & F.M. 544 • Jackson & Oak Section 551.074 (Personnel Matters) of the Local Government Code, Vernon's Texas Code Annotated(Open Meetings Act). • Evaluation of WEDC Staff 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 2019-11b • Project 2019-12a WEDC—Agenda June 17, 2020 Page 3 of 3 • Project 2019-12c • Project 2020-4a • Project 2020-4c 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 11th day of June 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 May 22, 2020— 8:30 A.M. 300 Country Club Road, Building#100 Wylie, TX 75098 CALL TO ORDER Announce the presence of a Quorum President Demond Dawkins called the regular meeting to order at 8:33 a.m. Board Members present were John Yeager, Melisa Whitehead, Gino Mulliqi, and Tim Gilchrist. Ex-officio Member City Manager Chris Hoisted was present, arriving at 8:34 a.m. WEDC Staff present included Executive Director Jason Greiner, BRE Director Angel Wygant, & Senior Assistant Rachael Hermes. INVOCATION & PLEDGE OF ALLEGIANCE BRE Director Angel Wygant gave the invocation and led the Pledge of Allegiance. CITIZEN PARTICIPATION With no citizen participation, President Dawkins moved to Consent Agenda. 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. A. Consider and act upon approval of the April 22, 2020 Minutes of the WEDC Board of Directors Meeting. B. Consider and act upon approval of the April 2020 WEDC Treasurer's Report. Board Action A motion was made by John Yeager, seconded by Melisa Whitehead, to approve the Consent Agenda as presented. A vote was taken and passed 5-0. ACTION ITEMS 1. Consider and act upon a Development Agreement between North Texas Municipal Water District and the WEDC for the relocation of a waterline located near the intersection of Highway 78 and Brown Street. Staff Comments Staff noted that the approval of a Development Agreement is the next step in the long process of relocating the waterline near the intersection of Highway 78 and Brown Street. Once approved, the NTMWD Board will be meeting on May 28, 2020 to consider the same Development Agreement. The City Manager has been notified to ensure that the WEDC and WEDC—Minutes May 22, 2020 Page 2 of 7 City Council are on the same page related to this project. Staff stated that they will bring back cost estimates further along in this process and the WEDC will sign off on expenses along the way. Board Action A motion was made by Gino Mulliqi, seconded by John Yeager, to approve a Development Agreement between North Texas Municipal Water District and the WEDC for the relocation of a waterline located near the intersection of Highway 78 and Brown Street.A vote was taken and passed 5-0. 2. Consider and act upon the purchase of abandoned right-of-way from the City of Wylie, consisting of 1.88 acres, or approximately 81,713 square feet,being 3-20' unimproved alleys within the F. DE LA PINA Survey,Abstract No. 688, and 2—70' unimproved streets,within the J. TRUITT Survey,Abstract No. 920. Staff Comments Staff referenced the property locations related to this purchase and reminded the Board of the adjacent properties owned by the WEDC. Staff noted that approval by the WEDC Board would allow City Council to consider approval of the purchase at the May 26th City Council meeting. Board Action A motion was made by John Yeager, seconded by Gino Mulliqi, to authorize the Executive Director to execute any and all documentation necessary to purchase 1.88 acres, or approximately 81,713 square feet, from the City of Wylie in the amount of$81,713. A vote was taken and passed 5-0. 3. Consider and act upon a Third Amendment to a Performance Agreement between the WEDC and Dank Real Estate,Ltd. Staff Comments Staff discussed the process of reviewing Performance Agreements to ensure that none are at risk due to COVID-19. Staff noted the effects of the pandemic on Deanan Gourmet Popcorn and explained the benefits of addressing the current financial challenges by amending the Performance Agreement in order to pull funding forward. Staff explained that the intent is to better equip the business now so that they are in a good position to further advance their operations after the pandemic and give them the opportunity to meet their business goals. The Board was in agreement about their commitment to Dank Real Estate, Ltd. and expressed interest in helping other local businesses survive if their Performance Agreements were at risk due to the pandemic. Board Action A motion was made by Tim Gilchrist, seconded by Melisa Whitehead, to approve a Third Amendment to a Performance agreement between the WEDC and Dank Real Estate,Ltd., and further authorize the WEDC Executive Director to execute said Agreement. A vote was taken and passed 5-0. WEDC—Minutes May 22, 2020 Page 3 of 7 4. Consider and act upon a Fourth Amendment to a Performance Agreement between the WEDC and DCU,Inc. Staff Comments Staff explained that DCU, Inc. has a Performance Agreement with WEDC that is scheduled for payment in August 2020. Staff discussed DCU, Inc. and the manufacturing work and expansion associated with the corporation. Staff noted that an Amendment to the Performance Agreement would simply pull the payment forward, noting that the requirements for this incentive had already been satisfied. Board Action A motion was made by Gino Mulliqi, seconded by John Yeager, to approve a Fourth Amendment to a Performance Agreement between the WEDC and DCU, Inc., and further authorize the WEDC Executive Director to execute said Agreement. A vote was taken and passed 5-0. 5. Consider and act upon a Performance Agreement between the WEDC and CBC Property Holdings,LP. Staff Comments Staff discussed the location of the development adjacent to the Kroger Center, noting that the Performance Agreement in consideration is payable over a two-year period and is directly tied to the fees associated with the project. Staff noted the inclusion of an Economic Impact Analysis for their consideration. The EIA for this project indicates that for every $1 that the WEDC invests, this developer is investing $20.18 in our community. Board Action A motion was made by Gino Mulliqi, seconded by Tim Gilchrist, to approve a Performance Agreement between the WEDC and CBC Property Holdings, LP. Providing for a maximum infrastructure reimbursement incentive of $50,000 and further authorizing the WEDC Executive Director to execute said Agreement. A vote was taken and passed 5-0. Board Member Yeager filed a conflict of interest with Staff prior to the start of the meeting and stepped out of the meeting at 8:55 a.m.prior to consideration of Item 6. 6. Consider and act upon a Performance Agreement between the WEDC and Wylie Insurance Agency,Inc. Staff Comments Staff discussed the location of this property adjacent to the South Ballard Overlay and explained that the Performance Agreement in consideration is payable over a two-year period, with requirements and details as outlined in the Agreement. The Economic Impact Analysis for this project indicates that for every $1 that the WEDC invests, this developer is investing $4.72 in our community. Board Action A motion was made by Gino Mulliqi, seconded by Melisa Whitehead, to approve a Performance Agreement between the WEDC and Wylie Insurance Agency, Inc. Providing for WEDC—Minutes May 22, 2020 Page 4 of 7 a maximum infrastructure reimbursement incentive of $27,500 and further authorizing the WEDC Executive Director to execute said Agreement. A vote was taken and passed 5-0. Board Member Yeager returned to the meeting at 9:00 a.m. following the vote on Item 6. DISCUSSION ITEMS 7. Discuss issues surrounding the FY 2020-2021 WEDC Budget. Staff discussed the FY 2020-2021 Budget process and will provide dates for the presentation of budget to City Council when available. Staff explained that the proposed budget was drafted with an expectation of sales tax revenue reduction, noting reduced expenses in Advertising, Community Development, and Land Acquisition accounts. Expenses have been reallocated to support the programs and initiatives associated with Business Retention & Expansion and redevelopment efforts. Staff anticipates a beginning fund balance of approximately$1,589,281 for FY 2020-2021 and has planned for a revenue decrease of approximately $500,000 due to reduction in sales tax revenues. City Manager Chris Hoisted updated the Board regarding sales tax projections and informed the Board that additional figures would be provided when available, noting that roughly 11% of the City's overall revenue is comprised of sales tax revenue. The Board discussed the Business Assistance Program and funding provided/available to local businesses. Staff provided an overview of the proposed budget. Regarding Debt Service, Staff noted that they are open to further direction from the Board.Personnel Services will be brought back with additional information for the Board as it is available. Operating Expenses were detailed, noting the need for an updated office copier/scanner. After discussion,the Board agreed to move forward with the lease or purchase of a copier within the FY 2019-20 Budget and plans to budget for monthly service fees for the copier in the FY 2020- 2021 Budget. Overall, Staff explained that expenses are being reviewed with intent to lower costs when possible. Regarding Rental Expense, Staff noted that the lease agreement for WEDC offices will be brought back to the Board when it is up for renewal. Additionally, the lease is being reviewed to ensure that budgeted expenditures align with the agreement. Staff detailed an overview of Incentives to be paid in FY 2020-2021, noting that this core program accounts for 23%of the overall budget. Regarding Special Services,it was noted that this portion accounts for 3%of the overall budget. Staff stated that they will be reviewing the mowing contract/locations for WEDC-owned properties. Property Management/Leasehold Improvements/Demolition line items were discussed with the Board. Staff expressed interested in the Board's feedback regarding demolition versus continued lease of residential properties, with more details to be discussed in the Staff Report portion of the meeting. Staff noted the five-year Retail Coach contract that provides savings related to trade shows and events. The Board expressed interest in hearing a presentation from Retail Coach and Staff confirmed that a meeting with Retail Coach had been canceled due to COVID-19 but would soon be planned for the Board. Staff explained the Interlocal Agreement with the City of Wylie,detailing the partnership between the WEDC and the City of Wylie in regard to projects and objectives. WEDC—Minutes May 22, 2020 Page 5 of 7 Related to Advertising, Staff explained both the ability to reduce the budget if needed and the overall process of reorganizing the expenses to align with the goals and objectives of the WEDC. Overall advertising expenses have been reduced and some expenses have been recategorized as a function of Community Development. Staff discussed the current website agreement and the need for continuous improvement. The Board inquired about website traffic versus the investment. Staff noted that some of the website functions create extra expense but are required to meet the IEDC data set standards, adding that the item can be brought back for further discussion if needed. Community Development items were detailed, noting the organization of expenses into Community, Education, Workforce, and BRE Industry Events. Staff discussed the attempt to mirror the categories in the budget with the goals of the organization. Travel and Training items were detailed. The Board was encouraged to inform staff if they are interested in attending TEDC Basic Training, Sales Tax Training, or any other training that they would find useful and would like to attend. Staff noted that additional cuts could be made to this account if necessary. The Dues and Subscriptions line item was broken down into subcategories to include Professional Organizations, Community Organizations, Technology, and Miscellaneous, noting that the largest portion of these expenses is related to technology. Audit & Legal was discussed, noting that additional funds had been allocated due to the increase of Performance Agreements and real estate contracts. Engineering & Architecture has been restructured to include Surveys, Engineering, Environmental, and Miscellaneous. This account shows an increase due to Capital Outlay projects further detailed within the budget. The Debt Service line item was detailed and relates to four current loans. The Woodbridge Parkway loan will be fully paid within FY 20-21 and an extension of interest-only payments on the Brown& 78 loan would result in a savings of$200,000 in this next FY. Infrastructure Projects were reviewed, noting that this item accounts for 29% of overall expenses. The Board agreed to further review the proposed budget and bring back any questions and needed revisions at the next meeting. The Board discussed any room in the budget for property purchases. Staff noted the option of loan consolidation and the mounting costs of developing the properties currently owned. City Manager Chris Hoisted left the meeting at 9:55 a.m. 8. Staff report: WEDC Property Update, FBC Rodeo, Team Up to Fight Hunger, Union Pacific,WB/Oncor, WEDC Activities and Programs. Staff updated the Board regarding sales tax revenues for March, stating that the numbers are up 5.44% over the same month last year. WEDC—Minutes May 22, 2020 Page 6 of 7 WEDC Property Updates include the WEDC purchase of Collin County property associated with Brown/78 Redevelopment and the City ROW purchase that will be presented at the upcoming City Council Meeting. In relation to WEDC-owned rental properties, Staff asked the Board for their input regarding any late payments due to COVID-19. The Board agreed to waive any late fees associated with delay in payment. Staff asked the Board for their input regarding issuance of permits for improvements on residential rental properties and direction regarding the recently vacated property at 503 S Ballard.The Board determined that they would not allow any improvements or permitting on WEDC-owned rental properties and requested that Staff obtain demolition quotes for residential rental properties. The Board stated that they would like to provide tenants as much notice as possible prior to any demolition. Staff updated the Board regarding the request from FBC Wylie for use of the WEDC-owned lot at 303 E. Marble St. for the FBC Rodeo. The Board agreed to allow the use if proper insurance and peiiuitting was obtained. Updates were provided to the Board related to Team Up To Fight Hunger and others who have joined in the effort. Staff provided a quote for the Team Up To Fight Hunger concept animation that had been discussed at the 4-22-20 Board meeting. The Board agreed to provide funds for the animation. Staff informed the Board that the Union Pacific parking lot project is pending and additional updates will be provided at the next Board Meeting. Staff discussed an issue with Whataburger/Oncor related to utility lines for the property and Whataburger's projected expense of$52,596 to loop the utility line underneath Hwy 78. After discussion, the Board expressed willingness to assist with 25% of the cost. WEDC Activities and Program updates include the nomination of the WEDC for the Workforce Excellence Award. The award is presented by the Texas Economic Development Corporation annually. This recommendation is a result of the WEDC receiving the Workforce Partner of the Year Award from NCTCOG and highlights the efforts of the WEDC to support the business community by enhancing workforce initiatives. EXECUTIVE SESSION Recessed into Closed Session at 10:26 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 &Brown • Jackson& Oak 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 WEDC—Minutes May 22, 2020 Page 7 of 7 • Project 2018-2a • Project 2018-10c • Project 2019-1 lb • Project 2019-12a • Project 2019-12c • Project 2020-4a • Project 2020-4c • Project 2020-5a • Project 2020-5b • Project 2020-5c • Project 2020-5d RECONVENE INTO OPEN MEETING Take any action as a result from Executive Session President Demond Dawkins reconvened into Open Session at 11:02 a.m. ADJOURNMENT With no further business,President Dawkins adjourned the WEDC Board meeting at 11:02 a.m. Demond Dawkins,President ATTEST: Jason Greiner,Executive Director �a ECONOMIC DEVELOPMENT PMENCORPORATION Wylie Economic Development Board AGENDA REPORT Meeting Date: June 17,2020 Item Number: B Department: WEDC (Staff Use Only) Prepared By: Jason Greiner Account Code: Date Prepared: 6/11/20 Exhibits: 4 Subject Consider and act upon approval of the May 2020 WEDC Treasurer's Report. Recommendation Motion to approve the May 2020 WEDC Treasurer's Report. Discussion Presented for the Board's review and approval is the May 2020 Treasurer's Report detailing the month and year-to-date financial transactions and performance against budget. In this report you will find the Revenue and Expense Report, Statement of Net Position, Balance Sheet, and Sales Tax Report. REVENUES: Sales Tax Revenue earned in March, allocated in May, was $289,224, an increase of 5.44% over the same period in 2019. Staff will monitor Sales Tax revenues moving forward and anticipates a short-teliii reduction in sales tax due to the potential retail impact of COVID-19. EXPENSES: Contractual Services Incentives $22,900 Dank Incentive 2 of 3 (authorized 5-22-20) $23,000 Dank Incentive 3 of 3 (authorized 5-22-20) $19,489 DCU Incentive 3 of 3 (authorized 5-22-20) Capital $81,713 Hwy 78 & Brown ROW (Purchase from City of Wylie) $296,152 Hwy 78 & Brown-NWC of Hwy 78 & Marble (Purchase from Collin County) $75,964 Hwy 78 & Brown- SWC of Hwy 78 & Marble (Purchase from Collin County) Page 1 of 1 Wylie Economic Development Corporation MONTHLY FINANCIAL REPORT May 31,2020 ANNUAL CURRENT PRIOR YEAR PO YTD BUDGET YTD ACTUAL %OF BUDGET BUDGET MONTH ADJUST. ENCUMBRANCE BALANCE ACCOUNT DESCRIPTION FY 2019-2020 FY 2019-2020 FY 2019-2020 FY 2019-2020 REVENUE SUMMARY CLAIM ON CASH!Bal Sheet $ 286,072.00 $ 2,405,795.65 SALES TAX $ 2,948,400.00 $ 289,224.35 $ - $ 1,528,524.60 $ - $ 1,419,875.40 51.84% A ALLOCATED INTEREST EARNINGS $ 6,000.00 $ - $ - $ 3,217.59 $ - $ 2,782.41 53.63% RENTAL INCOME $ 155,040.00 $ 16,470.00 $ - $ 104,272.00 $ - $ 50,768.00 67.25% GAIN/LOSS-SALE OF PROPERTY $ 1,782,226.00 $ - $ - $ 511,725.00 $ - $ 1,270,501.00 28.71% BANK NOTE PROCEEDS $ 996,500.00 $ - $ - $ 996,500.47 $ - $ (0.47) 100.00% B REVENUES $5,888,166.00 $ 305,694.35 $ - $3,144,239.66 $ - $ 2,743,926.34 53.40% EXPENDITURE SUMMARY PERSONNEL $ 440,285.00 $ 24,814.25 $ - $ 378,655.77 $ - $ 61,629.23 86.00% OPERATING EXPENSES $ 63,509.00 $ 3,119.16 $ - $ 41,229.90 $ 77.98 $ 22,201.12 65.04% C INCENTIVES $ 551,291.00 $ 65,389.00 $ - $ 405,212.10 $ - $ 146,078.90 73.50% D SPECIAL SERVICES $ 162,871.00 $ 5,340.82 $ - $ 124,665.30 $ 936.60 $ 37,269.10 77.12% ADVERTISING $ 137,600.00 $ 1,645.00 $ - $ 37,219.27 $ 4,746.50 $ 95,634.23 30.50% COMMUNITY DEVELOPMENT $ 43,350.00 $ 2,350.00 $ - $ 32,787.78 $ 2,001.83 $ 8,560.39 80.25% TRAVEL&TRAINING $ 31,317.00 $ (138.57) $ - $ 12,116.69 $ 4,397.11 $ 14,803.20 52.73% DUES&SUBSCRIPTIONS $ 19,567.00 $ 560.07 $ - $ 13,517.87 $ 85.00 $ 5,964.13 69.52% AUDIT&LEGAL $ 23,000.00 $ 1,468.00 $ - $ 15,243.52 $ 4,504.00 $ 3,252.48 85.86% ENGINEERING&ARCHITECTURAL $ 35,000.00 $ - $ - $ 31,326.60 $ - $ 3,673.40 89.50% DEBT SERVICE $ 2,267,432.00 $ 56,063.62 $ - $ 471,415.82 $ - $ 1,796,016.18 20.79% LAND $ 1,456,906.00 $ 448,829.40 $ - $ 1,315,858.03 $ - $ 141,047.97 90.32% B INFRASTRUCTURE PROJECTS $ 573,000.00 $ - $ - $ 9,499.00 $ - $ 563,501.00 1.66% COMPUTER $ - $ - $ - $ 887.96 $ - $ (887.96) 0.00% FURNITURE&FIXTURES $ 500.00 $ - $ - $ - $ - $ 500.00 0.00% CONTRA CAPITAL $ - $ - $ - $ (862,051.96) $ - $ 862,051.96 0.00% TOTAL EXPENDITURES $5,805,628.00 $ 609,440.75 $ - $2,027,583.65 $ 16,749.02 $ 3,761,295.33 35.21% REV OVER/(UNDER) EXPEN $ 82,538.00 $ (303,746.40) $ - $1,116,656.01 $ (16,749.02) $ (1,017,368.99) A. SLSTX Rev earned in Mar,allocated in May,was$289,224.35,an increase of 5.44%over the same period in 2019. Sales Tax received for 6 months of FY due to 2 month accrual to prior FY. B. Property Acquistions near Hwy 78 and Brown:City ROW and Collin County Properties Remaining funds drawn on ANB loan 88193982 approved in FY 18-19 to fund Hwy 78&Brown properties. C. Operating Expenses include Supplies,Maint Materials,Rental,Communication,Insurance and Utilities. D. Incentives paid this month include Dank and DCU Wylie Economic Development Corporation Statement of Net Position As of May 31, 2020 Assets Cash and cash equivalents $ 2,407,795.65 Receivables $ 70,000.00 Note 1 Inventories $ 12,088,145.50 Prepaid Items $ - Total Assets $ 14,565,941.15 Deferred Outflows of Resources Pensions $ 134,955.55 Total deferred outflows of resources $ 134,955.55 Liabilities Accounts Payable and other current liabilities $ 8,482.83 Unearned Revenue $ 40,200.00 Note 2 Non current liabilities: Due within one year $ 366,859.17 Note 3 Due in more than one year $ 6,741,318.97 Total Liabilities $ 7,156,860.97 Deferred Inflows of Resources Pensions $ (1,490.41) Total deferred inflows of resources $ (1,490.41) Net Position Net investment in capital assets $ - Unrestricted $ 7,545,526.14 Total Net Position $ 7,545,526.14 Note 1: Includes incentives in the form of forgivable loans for$70,000 Note 2: Exco amortization;deposits from rental property Note 3: Liabilities due within one year includes compensated absences of$93,673 6-15-2020 01:20 PM CITY OF WYLIE PAGE: 1 BALANCE SHEET AS OF: MAY 31ST, 2020 111-WYLIE ECONOMIC DEVEL CORP ACCOUNT# TITLE ASSETS 1000-10110 CLAIM ON CASH AND CASH EQUIV. 2,405,795.65 1000-10115 CASH - WEDC - INWOOD 0.00 1000-10135 ESCROW 0.00 1000-10180 DEPOSITS 2,000.00 1000-10198 OTHER - MISC CLEARING 0.00 1000-10341 TEXPOOL 0.00 1000-10343 LOGIC 0.00 1000-10481 INTEREST RECEIVABLE 0.00 1000-11511 ACCTS REC - MISC 0.00 1000-11517 ACCTS REC - SALES TAX 0.00 1000-12810 LEASE PAYMENTS RECEIVABLE 0.00 1000-12950 LOAN PROCEEDS RECEIVABLE 0.00 1000-12996 LOAN RECEIVABLE 0.00 1000-12997 ACCTS REC - JTM TECH 0.00 1000-12998 ACCTS REC - FORGIVEABLE LOANS 70,000.00 1000-14112 INVENTORY - MATERIAL/ SUPPLY 0.00 1000-14116 INVENTORY - LAND & BUILDINGS 12,088,145.50 1000-14118 INVENTORY - BAYCO/ SANDEN BLVD 0.00 1000-14310 PREPAID EXPENSES - MISC 0.00 1000-14410 DEFERRED OUTFLOWS 801,800.00 15,367,741.15 TOTAL ASSETS 15,367,741.15 LIABILITIES 2000-20110 FEDERAL INCOME TAX PAYABLE 0.00 2000-20111 MEDICARE PAYABLE 0.00 2000-20112 CHILD SUPPORT PAYABLE 0.00 2000-20113 CREDIT UNION PAYABLE 0.00 2000-20114 IRS LEVY PAYABLE 0.00 2000-20115 NATIONWIDE DEFERRED COMP 0.00 2000-20116 HEALTH INSUR PAY-EMPLOYEE 1.45 2000-20117 TMRS PAYABLE 0.00 2000-20118 ROTH IRA PAYABLE 0.00 2000-20119 WORKERS COMP PAYABLE 0.00 2000-20120 FICA PAYABLE 0.00 2000-20121 TEC PAYABLE 0.00 2000-20122 STUDENT LOAN LEVY PAYABLE 0.00 2000-20123 ALIMONY PAYABLE 0.00 2000-20124 BANKRUPTCY PAYABLE 0.00 2000-20125 VALIC DEFERRED COMP 0.00 2000-20126 ICMA PAYABLE 0.00 2000-20127 EMP. LEGAL SERVICES PAYABLE 0.00 2000-20130 FLEXIBLE SPENDING ACCOUNT 4,404.08 2000-20131 EDWARD JONES DEFERRED COMP 0.00 2000-20132 EMP CARE ELITE 12.00 2000-20151 ACCRUED WAGES PAYABLE 0.00 2000-20180 ADDIT EMPLOYEE INSUR PAY 12.04 2000-20199 MISC PAYROLL PAYABLE 0.00 6-15-2020 01:20 PM CITY OF WYLIE PAGE: 2 BALANCE SHEET AS OF: MAY 31ST, 2020 111-WYLIE ECONOMIC DEVEL CORP ACCOUNT# TITLE 2000-20201 AP PENDING 4,053.26 2000-20210 ACCOUNTS PAYABLE 0.00 2000-20530 PROPERTY TAXES PAYABLE 0.00 2000-20540 NOTES PAYABLE 801,800.00 2000-20810 DUE TO GENERAL FUND 0.00 2000-22270 DEFERRED INFLOW 39,000.00 2000-22275 DEF INFLOW - LEASE PRINCIPAL 0.00 2000-22280 DEFERRED INFLOW - LEASE INT 0.00 2000-22915 RENTAL DEPOSITS 1,200.00 TOTAL LIABILITIES 850,482.83 EQUITY 3000-34110 FUND BALANCE - RESERVED 0.00 3000-34590 FUND BALANCE-UNRESERV/UNDESIG 12,946,562.95 TOTAL BEGINNING EQUITY 12,946,562.95 TOTAL REVENUE 3,144,449.62 TOTAL EXPENSES 1,573,754.25 REVENUE OVER/(UNDER) EXPENSES 1,570,695.37 TOTAL EQUITY & OVER/(UNDER) 14,517,258.32 TOTAL LIABILITIES, EQUITY & OVER/(UNDER) 15,367,741.15 6-15-2020 01:20 PM CITY OF WYLIE PAGE: 1 BALANCE SHEET AS OF: MAY 31ST, 2020 922-GEN LONG TERM DEBT (WEDC) ACCOUNT# TITLE ASSETS 1000-10312 GOVERNMENT NOTES 0.00 1000-18110 LOAN - WEDC 0.00 1000-18120 LOAN - BIRMINGHAM 0.00 1000-18210 AMOUNT TO BE PROVIDED 0.00 1000-18220 BIRMINGHAM LOAN 0.00 1000-19050 DEF OUTFLOW TMRS CONTRIBUTIONS 37,244.29 1000-19051 DEF OUTFLOW SDBF CONTRIBUTIONS 472.00 1000-19075 DEF OUTFLOW - INVESTMENT EXP 37,954.48 1000-19100 DEF OUTFLOW - ACT EXP/ASSUMP 59,284.78 1000-19125 (GAIN)/LOSS ON ASSUMPTION CHG( 725.41) 1000-19126 DEF INFLOW SDBF CONTRIBUTIONS( 765.00) 133,465.14 TOTAL ASSETS 133,465.14 LIABILITIES 2000-20310 COMPENSATED ABSENCES PAYABLE 11,530.82 2000-20311 COMP ABSENCES PAYABLE-CURRENT 93,673.00 2000-21410 ACCRUED INTEREST PAYABLE 11,478.21 2000-28205 WEDC LOANS/CURRENT 261,707.96 2000-28220 BIRMINGHAM LOAN 0.00 2000-28230 INWOOD LOAN 0.00 2000-28232 ANB LOAN/EDGE 0.00 2000-28233 ANB LOAN/PEDDICORD WHITE 0.00 2000-28234 ANB LOAN/RANDACK HUGHES 0.00 2000-28235 ANB LOAN 0.00 2000-28236 ANB CONSTRUCTION LOAN 0.00 2000-28237 ANB LOAN/ WOODBRIDGE PARKWAY 96,900.47 2000-28238 ANB LOAN/BUCHANAN 0.00 2000-28239 ANB LOAN/JONES:HOBART PAYOFF 0.00 2000-28240 HUGHES LOAN 0.00 2000-28242 ANB LOAN/HWY 78:5TH ST REDEV 4,297,437.25 2000-28245 ANB LOAN/DALLAS WHIRLPOOL 1,863,204.17 2000-28247 JARRARD LOAN 202,935.09 2000-28250 CITY OF WYLIE LOAN 0.00 2000-28260 PRIME KUTS LOAN 0.00 2000-28270 BOWLAND/ANDERSON LOAN 0.00 2000-28280 CAPITAL ONE CAZAD LOAN 0.00 2000-28290 HOBART/COMMERCE LOAN 0.00 2000-29150 NET PENSION LIABILITY 262,947.17 2000-29151 SDBF LIABILITY 6,364.00 TOTAL LIABILITIES 7,108,178.14 6-15-2020 01:20 PM CITY OF WYLIE PAGE: 2 BALANCE SHEET AS OF: MAY 31ST, 2020 922-GEN LONG TERM DEBT (WEDC) ACCOUNT# TITLE EQUITY 3000-34590 FUND BALANCE-UNRESERV/UNDESIG( 6,117,522.11) 3000-35900 UNRESTRICTED NET POSITION ( 120,264.00) TOTAL BEGINNING EQUITY ( 6,237,786.11) TOTAL REVENUE ( 996,500.47) TOTAL EXPENSES ( 259,573.58) REVENUE OVER/(UNDER) EXPENSES ( 736,926.89) TOTAL EQUITY & OVER/(UNDER) ( 6,974,713.00) TOTAL LIABILITIES, EQUITY & OVER/(UNDER) 133,465.14 WYLIE ECONOMIC DEVELOPMENT CORPORATION SALES TAX REVENUE FOR THE MONTH OF MAY 2020 MONTH WEDC WEDC WEDC WEDC DIFF % DIFF 2017 2018 2019 2020 19 VS 20 19 VS 20 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 168,844 163,485 182,500 203,896 21,396 11.72% MAY 244,816 203,707 274,299 289,224 14,925 5.44% 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 $1,528,525 $ 117,520 7.95% AUDIT ADJ TOTAL $2,627,376 $2,562,759 $2,920,137 $1,528,525 $117,520 7.95% WEDC SALES TAX ANALYSIS $400,000 $350,000 $300,000 $250,000 $200,000 02019 $150,000 2020 $100,000 $50,000 $0 I { I I { Ii { { I {L , T (� N N o N , Li. I Z 4 ECONOMIC DEVELOPMENT CORPORATION Wylie Economic Development Board AGENDA REPORT Meeting Date: June 17,2020 Item Number: 1 Department: WEDC (Staff Use Only) Prepared By: Jason Greiner Account Code: Date Prepared: 6/10/2020 Exhibits: Subject Consider and act upon issues surrounding the disposition of WEDC property located at 204 N. 2nd Street and 503 S. :Ballard. Recommendation Motion to award a contract to InterCon Demolition in the amount of $22,000 and further authorizing the Executive Director to execute any and all necessary documents. Discussion Hwy 78 & Brown St Assemblage The WEDC acquired 204 N. 2nd Street back in May of 2019. The property has since been vacated and staff is bringing this item back to the Board to consider and act upon the demolition of the property. South Ballard Overlay Assemblage The WEDC acquired 503 S. Ballard back in July 2019. The property was recently vacated and is ready to rehab or demolish. After Board discussion at the May 22, 2020 meeting, staff is bringing this item back to the Board to consider and act upon the demolition of the property. WEDC staff received an updated quote from Intercon Demolition for $22,000 for both properties. As the Board will recall, staff received approval to demo 208 N. 2nd Street back on April 22, 2020, so the entire demolition project is estimated to be $37,500 at this time. By waiting and tearing down 204 and 208 N. 2nd Street at the same time we will save $2,000 on the mobilization charges. Page 1 of 1 r ri ECONOMIC DEVELOPMENT CORPORATION Wylie Economic Development Board AGENDA REPORT Meeting Date: June 17, 2020 Item Number: 2 (Staff Use Only) Department: WEDC Prepared By: Jason Greiner Account Code: Date Prepared: 6/10/2020 Exhibits: Subject Consider and act upon issues surrounding the underground utilities located at 350 South Highway 78. Recommendation No action is requested by staff for this item. Discussion As the Board will recall from the May 22, 2020 meeting, Staff discussed recent communications with Whataburger and Oncor regarding the necessity of looping the power line underneath Hwy 78. Staff will provide more information at the meeting. Page 1 of 1 v ECONOMIC DEVEL©PMENT)C©RPORATION Wylie Economic Development Board AGENDA REPORT Meeting Date: June 17, 2020 Item Number: 3 Department: WEDC (Staff Use Only) Prepared By: Jason Greiner Account Code: Date Prepared: 6/10/20 Exhibits: 1 Subject Discuss issues surrounding the FY 2020-2021 WEDC Budget. Recommendation No action is requested by staff for this item. Discussion Staff has worked closely with Finance to develop an accurate Beginning Fund Balance for FY20-21. The WEDC budgets to have those monies available for the following year and bases its expenditures on the same. The WEDC has estimated $4,361,421 in available resources including a beginning fund balance of$1,589,281. Sales Tax projections and anticipated expenses through the remainder of the fiscal year are typically estimated in March. Given the anticipated disruption in sales tax revenue due to the COVID-19 pandemic, staff has coordinated with City of Wylie budgetary guidelines and reduced 2020-2021 sales tax revenue by $500,000. To accommodate this reduction in revenues, staff has reduced expenses in Advertising,Community Development,Land Acquisition and reallocated expenses to align with BRE and Redevelopment programs. In addition to operating funds for FY 2020-2021, Incentives for current projects are $804,500 with $250,000 allocated for Cross Development. $812,518 is allocated to debt service with staff proposing requesting another interest only extension to the loan associated with the Highway 78 & Brown property acquisition in order to reserve capital for redevelopment expenses on that property. In addition to this loan, the WEDC has 3 outstanding loans associated with Woodbridge Parkway (payoff scheduled for April 2021), 544 gateway redevelopment and a seller financed property on Industrial Court. Finally,$1,005,000 will be allocated to Infrastructure/Street&Alleys for development costs associated with the Brown & 78 site (median break/deceleration lanes & NTMWD Waterline relocation), parking improvements along the Union Pacific Railroad property on Birmingham and the 544 waterline project. Today's discussion and overall changes to the budget will be updated as needed.Once the Council Budget Presentations are scheduled, staff will send calendar reminders so that Board Members can attend. Page 1 of 2 Page 2 of 2 Staff will continue to monitor the sales tax revenues and bring back any necessary changes prior to the Board's formal approval of the budget. Revenue FY 19-20 FY 20-21 6/1 21202t Unreserved Beg Fund Bal. 286,072 1,589,281 36% Sales Tax 2,948,000 2,448,400 56% Interest Income: 6,000 6,000 of Bank Note Proceeds: 996,500 0 of Rental Income: 155,040 153,240 4% 106 N. Birmingham (1,000) 12,000 605 Commerce-200 ($2,000) 24,000 605 Commerce-201($1,435) 17,220 605 Comm - 204($750x2;1000x10) 12,420 Steel Rd ($500) 6,000 711 Cooper ($400) 4,800 100 Oak 12,000 706 Cooper 4,800 Heath & Heath 60,000 153,240 Sale of Property: 1,452,726 164,500 4% Cooper St 60,000 Birmingham 104,500 164,500 Total Revenues: 4,361,421 Expenses FY 19-20 FY 20-21 Personnel Services 440,285 330,016 9% Direct Comp. 306,054 236,986 Salaries 304,457 236,202 51110 Longevity Pay 1,597 784 51140 306,054 236,986 Other Comp. 65,308 35,978 Car Allowance 12,600 0 51210 Phone Allowance 4,656 0 51220 TMRS Retirement 48,052 35,978 51310 65,308 35,978 Insurance 68,923 57,053 Group Hosipitalization&Life Ins. 41,595 36,407 51410 Long-Term Disability 1,736 1,284 51420 FICA 19,748 14,792 51440 Medicare 4,619 3,459 51450 Workers Compensation 415 301 51470 Unemployment Comp.TWC 810 810 51480 68,923 57,053 Operating Expenses 59,509 55,039 2% Supplies 10,495 11,400 of Office Supplies 3,000 52010 Postage& Freight 300 52040 Food Supplies 6,100 52810 Copier 2,000 52010 11,400 Comp Sftw&Hdw Maint 3,000 5,500 0% 54810 In-line Annual Server Contract 2,000 Qrtly Main/Svc calls 2,000 Computer Equip 1,500 5,500 Rental Expense 29,328 27,000 1% 56180 250 S. Hwy 78 (2,250/mnth x 12 27,000 27,000 Communications 9,376 5,936 0% 56110 Internet 2,400 Telephone 1,536 Verizon - Hot Spots 2,000 5,936 Insurance 4,310 2,803 0% 56310 General Liability 2,500 Bond 303 2,803 Utilities 3,000 2,400 0% 56610 Incentives 551,291 804,500 23% 56030 Cardinal 14,500 CSD Sales Tax 150,000 Cross Development 250,000 OSD 60,000 Savannah 45,000 SAF Holland -Tax Incentive 60,000 SCSD-Finnell 87,500 Taylor&Son 50,000 Yeager 27,500 Albert 25,000 Ava nt i 30,000 Ross 5,000 804,500 Special Services 120,871 94,445 3% 56040 Sales Tax Report 4,375 Janitorial (157.50/month) 1,890 Pest Control -Qrtly 380 Mowing (summer$900/mnth) 6,300 Leasehold Improvements 7,000 Traffic Counts 5,000 Retail Coach 12,500 Consulting 5,000 Property Management 12,000 Demolition 35,000 Interlocal Agreement 5,000 94,445 Advertising 137,600 114,100 3% 56080 Connection Magazine-2 3,000 In &Around -2 3,500 Social Media 7,000 Regional Marketing Initiative 50,000 Wylie Logistics Park 25,000 Promotional Materials 5,000 Audio Ads 600 Website 10,000 Miscellaneous: 10,000 114,100 Community Development 43,350 44,550 1% 56090 Community 7,950 Education 5,600 Workforce 11,450 BRE Industry Events 19,550 44,550 Travel,Training& Recruitment 31,317 62,600 2% 56210 TEDC 12,000 TEDC Sales Tax Training-3 600 ICSC 12,000 Wylie Days/Collin Cty Days 10,000 Retail Live 1,000 TEDC Training-Asst 2,000 IEDC Training-Asst Director 4,000 IEDC/TEDC Training- Director 1,000 Ind/Office Recruitment Lead Gen 10,000 Sporting Events/Prospect Dev 10,000 62,600 Dues&Subscriptions 19,567 30,018 1% 56250 Professional Associations 3,160 Community Associations 6,650 Technology 18,708 Miscellaneous 1,500 30,018 Audit& Legal 23,000 33,000 1% 56510 Audit 3,000 Legal 30,000 33,000 Engineering&Architectural 15,000 87,500 3% 56570 Surveys 5,000 Engineering 75,000 Environmental 5,000 Misc. 2,500 87,500 Debt Service 2,267,432 812,518 23% 57110 Wdbg Parkway (13,267.93) 92,876 Dallas Whirl ($20,249.03) 242,988 Grays/Jarrard (3,109.15) 37,310 Brwn &78($20,000 x 5;48,447.70 x 7) 439,344 812,518 Capital Outlay 674,664 1,007,500 29% Land / Purchase 0 0% 58110 Infrastructure Projects/Streets&Alleys 1,005,000 29% 58210 Birmingham Parking 80,000 Downtown Alley 125,000 NTM W D 425,000 544 Waterline 250,000 Brown &78 Median 125,000 1,005,000 Computer 0 0% 58810 Furniture & Fixtures 2,500 0% 58830 Contra Capital 0 0% 58995 Total Expenses: 3,475,786 Revenues $ 4,361,421.00 Less Expenses: $ 3,475,785.54 Ending Fund Balance $ 885,635.46 4 -4 ECONOMIC DEVELOPMENT CORPORATION Wylie Economic Development Board AGENDA REPORT Meeting Date: June 17,2020 Item Number: 4 (Staff Use Only) Department: WEDC Prepared By: Jason Greiner Account Code: Date Prepared: 6/1 1//20 Exhibits: Subject Staff report: WEDC Property Update, FBC Rodeo, Downtown Parking, WEDC Activities and Programs, Retail Coach Update. Recommendation No action is requested by staff for this item. Discussion The Retail Coach will provide a brief update and Staff will lead a discussion regarding WEDC Properties, FBC Rodeo, Downtown Parking, and provide an overall review of issues surrounding WEDC Activities and Programs. Page 1 of 1 UDC 2020 Economic Development Sales Tax Workshops 41> lWaco Workshop Hilton �¢'a�v as C&Ba: C>!;'V[d a?d�„1s�va� SalesTax August 14, 2020 WORKSHOP Lubbock Workshop Overton August 28, 2020 DFW Workshop Registration. Hyatt Place $1751person Garland/Richardson September18, 2020 Tyler Workshop Courtyard Marriott October 23, 2020 Registration online at www,texasetic.org Houston Workshop Doubletree/Hobby Airport November 13, 2020 Austin Workshop Marriott South December 11, 2020 ta TEXAS EGOP4OWG CZYIELOPMENTC.06x@'.{C&