08-18-2021 (WEDC) Minutes Minutes
Wylie Economic Development Corporation
Board of Directors Meeting
August 18, 2021 —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 8:44 a.m.Board Members present were Melisa
Whitehead and Blake Brininstool.Board Member Gino Muiligi joined the meeting just after 8:44 a.m.and was
present for observation purposes only via teleconference.
Ex-Officio Members Mayor Matthew Porter and City Manager Chris Hoisted were present.
WEDC staff present included Executive Director Jason Greiner, BRE Director Angel Wygant, and Senior
Assistant Rachael Hermes.
INVOCATION&PLEDGE OF ALLEGIANCE
President Dawkins gave the invocation and led the Pledge of Allegiance.
COMMENTS ON NON-AGENDA ITEMS
• l With no citizen participation,President Dawkins moved to Regular Agenda.
CONSENT AGENDA
All matters listed under the Consent Agenda are considered to be routine by the WEDC Board ofDirectors and
will be enacted by one motion. There will not be a 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 Minutes from the July 21, 2021 Regular Meeting and
August 4,2021 Special Called Meeting of the WEDC Board of Directors.
B. Consider and act upon approval of the July 2021 WEDC Treasurer's Report.
Board Action
A motion was made by Melisa Whitehead, seconded by Blake Brininstool, to approve the Consent
Agenda as presented.A vote was taken,and the motion passed 3-0.
REGULAR AGENDA
1. Consider and act upon Resolution 2021-01(R)between the WEDC and Government Capital
Corporation.
Staff Comments
Staff provided an overview of the process that took place to evaluate options to refinance current
debt and borrow additional funds for the acquisition of key properties. Following direction at the
8-4-21 Board Meeting, Staff has requested a 240-month term with 5-yr call restrictions on an
$8MM loan. Staff noted that the loan rate has decreased since the prior meeting, with a final rate
of 3.48%.Approving Resolution 2021-0I(R)initiates moving forward in this process and will begin
credit review, securing the compliance package, and generation of loan documents.
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August 18, 2021
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Board Action
A motion was made by Blake Brininstool,seconded by Melisa Whitehead,to approve Resolution 2021-
01(R) between the WEDC and Government Capital Corporation. A vote was taken, and the motion
passed 3-0.
2. Consider and act upon a Performance Agreement between the WEDC and DW Wylie,LLC.
Mayor Porter stepped out at 8:44 a.m. prior to consideration of Item 2 and filed a conflict of interest
form with Staff.
Staff Comments
Staff noted that this Item relates to the renovation at 499 S Hwy 78 for Chipotle and was taken to
Council for their review on July 27, 2021. DW Wylie, LLC requested assistance with the
reimbursement of hard and soft costs of construction. Staff noted that a $13,000 gas line would
need to be installed plus additional fees and the Agreement outlines a maximum qualified
infrastructure reimbursement of$15,000. The Economic Impact Analysis (EIA) indicates that the
project will generate an estimated$853,429 in overall tax revenue for the City of Wylie over the
next 10 years. For every $1 that the WEDC invests, this business is investing $56.89 in our
community.
Board Action
A motion was made by Melisa Whitehead, seconded by Blake Brininstool, to approve a
Performance Agreement between the WEDC and DW Wylie, LLC, providing for a maximum
infrastructure reimbursement incentive of$15,000 and further authorizing the WEDC Executive
Director to execute said Agreement.A vote was taken,and the motion passed 3-0.
Mayor Porter returned to the meeting at 8:51 a.m.following the vote on Item 2.
DISCUSSION ITEMS
DS1. Staff report: WEDC Property Update, Downtown Parking, WEDC Office/Insurance Claim,
WEDC Work Session/Board Retreat,Upcoming Events,and WEDC Activities/Programs.
Staff noted that sales tax revenues were up 5.93%for the month of July and 20.20%for August.WEDC
office furniture for replacement has been ordered. Staff highlighted upcoming events and opportunities
to include the upcoming WEDC Board Retreat and TEDC Sales Tax Training in September.
EXECUTIVE SESSION
The Board agreed to allow Board Member Gino Mulliqi to remain connected via teleconference for observation
purposes only during Executive Session.
Recessed into Closed Session at 8:52 a.m.in compliance with Section 551.001,et.seq.Texas Government Code,
to wit:
Sec.551.072. DELIBERATION REGARDING REAL PROPERTY; CLOSED MEETING.
ES1. Consider the sale or acquisition of properties located at FM 544/Cooper, Jackson/Oak,
Regency/Steel,State Hwy 78/Alanis,and State Hwy 78/Brown.
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August 18, 2021
Page 3 of 3
Sec.551.087. DELIBERATION REGARDING ECONOMIC DEVELOPMENT NEGOTIATIONS;
CLOSED MEETING.
ES2. Deliberation regarding commercial or financial information that the WEDC has received from a
business prospect and to discuss the offer of incentives for Projects:2017-10a,2020-11b,2021-4a,
2021-4b,2021-4c,2021-4d,2021-5a,2021-6a,2021-6c,and 2021-8a.
RECONVENE INTO OPEN SESSION
Take any action as a result from Executive Session.
President Demond Dawkins reconvened into Open Session at 9:27 a.m.and took no action.
FUTURE AGENDA ITEMS
There were no Items requested for inclusion on future agendas.
ADJOURNMENT
With no further business,President Dawkins adjourned the WEDC Board meeting at 9:27 a.m.
Demond Dawkins,President
1 f j ATTEST:
r{ s
-Jason- Greiner,Executive Director
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