04-22-2022 (WEDC) Minutes Minutes
Wylie Economic Development Corporation
Board of Directors Meeting
April 22, 2022 —8:30 A.M.
DC Offices—Conference Room
250 S Hwy 78--Wylie,TX 75098
CALL TO ORDER
Announce the presence of a Quorum
Vice President Melisa Whitehead called the meeting to order at 8:35 a.m. Board Members present were Gino
Mulliqi,Tim Gilchrist,and Blake Brininstool.
Ex-Officio Members Mayor Matthew Porter and Interim City Manager Brent Parker were present.
WEDC staff present included Executive Director Jason Greiner, BRE Director Angel Wygant, and Senior
Assistant Rachael Hermes.
()CATION&PLEDGE OF ALLEGIANCE
Angel Wygant gave the invocation and led the Pledge of Allegiance.
CO HI ENTS ON NON-AGE '')A ITEMS
With no citizen participation,Vice President Whitehead moved to Consent 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 March 16,2022 Regular Meeting and March
21,2022 Special Called M.iting of the WEDC Board of Directors.
Consider and act upon approval of the March 2022 DC Treasurer's Report.
Board Action
A motion was made by Gino Mulliqi, seconded by Blake Brininstool,to approve the Consent Agenda
as presented.A vote was taken,and the motion passed 4-0.
REGULAR AGENDA
1. Consider and act upon a Third Amendment to the Purchase i d Sale Agreement between the
WEDC and Victory Group,LLC.
Staff Comments
Staff discussed the approved Purchase and Sale A-keement with Victory Group, LLC for the sale of
property at 201 Industrial Court on July 21, 2021, as well as the subsequent amendments to the
a ement on October 20, 2021 and January 6, 2022. The "Approval Period" (Section 2.06a) in the
contract was extended from ninety(90)days to December 15,2021 and then again to February 9,2022.
Victory Group has since exercised both of their Approval Period Extensions to get the necessary P&Z
and City Council approvals.
The proposed Third ii endment will allow adequate time for Victory Group to receive final City
Council approval at the April 26th meeting and will extend the Approval Period to 5:00 PM on May 11,
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April 22, 2022
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2022. The proposed Third en ent also terminates any further right for an Approval Period
Extension. Staff anticipates Victory Group to close on or before June 10,2022.
Board Action
A motion was made by Gino Mulliqi,seconded by Tim Gilchrist,to approve a Third Amendment to the
Purchase and Sale Agreement between the DC d Victory Group, LLC for the sale of
approximately.29-acre of real property and further authorize the WEDC Board President to execute all
documentation necessary to effectuate the transactions. A vote was taken,and the motion passed 4-0.
2. Consider and act upon a First Amendment to the Letter of Understanding between DC and
Union Pacific.
Staff Comments
Staff discussed the purchase of property at 401 N Keefer and the redevelopment of the property located
in the Downtown Historic District. A Letter of Understanding between Union Pacific and e WEDC
was executed on February 22,2022 for the purchase of the .476-acre lot adjacent to 401 N Keefer.The
purchase was later authorized by the WEDC Board at the March 16,2022 WEDC Board Meeting.
Union Pacific is requesting an extension to the LOU to allow more time to get the deed finalized.
Approval of the First en a u ent to the Letter of Understanding would amend the closing date from
April 30,2022 to May 30,2022. Staff anticipates closing on the property on or before May 27,2022.
Board Action
A motion was made by Gino Mulliqi,seconded by Blake rininstool,to approve a First us en. 'a ent to
the Letter of Understanding between the WEDC and Union Pacific for the purchase of a .476-acre
property and further authorizing the WEDC Executive Director to execute the amendment. A vote was
taken,and the motion passed 4-0.
DISCUSSION ITEMS
DS1. Update from the Subcommittee of the Board to review and recommend any modifications to the
existing bylaws of the Corporation.
Staff Comments
Staff and Subcommittee Members Whitehead and Gilchrist discussed the process of bylaw review and
consideration of the bylaws of neighboring economic development corporations. Staff will provide the
proposed revisions to the attorney for their review and anticipates that a draft copy will likely be
available at the next Board Meeting.
DS2. Discussion regarding ICSC events.
Staff Comments
Staff noted the ICSC Red River Conference that took place in March. Board Member Mulliqi, Vice
President Whitehead,and Mayor Porter discussed the value of the conference.
ICSC Las Vegas takes place May 22-24. Staff is in the process of scheduling meetings/events and will
provide calendar invites to the attendees shortly before the event. The Board highlighted potential
opportunities for discussion at ICSC Las Vegas.
DS3. Discussion regarding Property Listing Agreement.
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April 22, 2022
Page 3 of 4
Staff Comments
Staff discussed Exclusive Listing Agreements and previous brokerage representation by Edge Realty
Partners. Staff has been approached by a separate oup to represent properties and wanted to provide
the information to the Board.
DS4. Discuss issues surrounding the FY 2022-2023 WEDC udget.
Staff Comments
Staff discussed preparation of the FY 2022-2023 WEDC ' udget and reviewed assumptions that will be
made for ending FY 2021-2022 to project the future budget. Staff noted that the Finance Dep: ent
has requested expenses previously budgeted in Capital Projects be moved into Special Services.St is
requesting that Special Services be further split into subaccounts to provide differentiation between
expenses within that account. Staff anticipates an ending balance of$1.7 MM for FY 2021-2022. The
Board discussed the consideration of requiring a us inimum cash balance to operate. Staff will provide
additional detail to the Board to reflect both 3-month and 6-month cash reserve buffers to cover loan
and operational expenses.
DS5. Staff report: WEDC Property Update, Downtown Parking, Engineering Report, Temporary
Access Agreements,Upcoming Events,and WEDC Activities/Programs.
Staff Comments
Staff referred the Board to the Agenda Report and quarterly reports provided in the packet for all updates
related to WEDC-owned properties, downtown parking, engineering reports, temporary access
agreements,upcoming events,and WEDC activities/pro a s. The Board recommended issuance of a
Press Release regarding the tree removal at Hwy 78&Brown. Staff discussed shifting the May WEDC
Board Meeting to Friday,May 20th,
EXECUTIVE SESSION
Recessed into Closed Session at 9:49 a.m.in compliance with Section 551.001,et.seq.Texas Government Code,
to wit:
Sec.551.071. CONSULTATION WITH ATTORNEY; CLOSED ETING.
ESL Discussion regarding WEDC-owned property.
Sec.551.072. DELIBEP TION REGARDING REAL PROPERTY; CLOSED MEETING.
E52. Consider the sale or acquisition of properties located at Ballard/Brown,Brown/Eubanks,FM
544/Cooper,FM 544/Sanden,State Hwy 78/Alanis,State Hwy 78/Ballard,State Hwy
78/Birmingham,and State Hwy 78/Brown.
Sec.551.087. DELIBERATION REGARDING ECONOMIC DEVELOPMENT NEGOTIATIONS;
CLOSED MEETING.
ES3. Deliberation reg rding commercial or fmancial information that the WEDC has received from a
business prospect and to discuss the offer of incentives for Projects:2017-10a,2020-11b,2021-2d,
2021-4a,2021-4b,2021-5a,2021-6a,2021-6c,2021-7a,2021-8a,2021-9e,2021-9f,2021-11a,2021-
12a, 2021-12b,2022-1a,2022-2a,2022-2b,2022-4a,and 2022-4b.
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April 22, 2022
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Board Member Mulliqi stepped out at 9:51 a.m. during Executive Session and filed a Conflict of Interest form
with Staff, Board Member Mulliqi returned at 10:07 a.m.
RECONVENE INTO OPEN SESSION
Take any action as a result of the Executive Session.
Vice President 'tehead reconvened into Open Session at 11:02 a.m.
FUTUR H AGENDA ITEMS
There were no Items requested for inclusion on future agendas.
ADJOURNMENT
With no further business,Vice President Whitehead adjourned the DC Board meeting at 11:03 a.m.
Demond Dawleins,President
ATTES1.'"'
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Jason Greiner,Execntiye INiector