01-19-2007 (WEDC) Minutes Minutes
Wylie Economic Development Corporation
Board of Directors Meeting
Friday, January 19, 2007—6:00 A.M.
Inwood National Bank—Conference Room
200 South Hwy. 78 —Wylie,Texas
CALL TO ORDER
Announce the presence of a Quorum.
President Fuller called the meeting to order at 6:00 a.m. Board Members present were: John Yeager,
Gary Bartow, Mitch Herzog, and Merrill Young.
Staff present was Executive Director Sam Satterwhite and Administrative Assistant Gerry Harris.
Ex-Officio Member/City Manager Mindy Manson was present.
CITIZEN PARTICIPATION
There being no citizen participation, President Fuller proceeded to Action Items.
ACTION ITEMS
ITEM NO. 1 — Consider and Act Upon Approval of the December 21, 2006 Minutes of the
WEDC Board of Directors Meeting.
MOTION: A motion was made by Merrill Young and seconded by Mitch Herzog to approve
the December 21, 2006 Minutes of the WEDC Board of Directors Meeting. The
WEDC Board voted 5—FOR and 0—AGAINST in favor of the motion.
ITEM NO. 2 — Consider and Act Upon Issues Surrounding Approval of the December 2006
WEDC Treasurer's Report.
The Board directed staff TO inquire with the Finance Department regarding the absence of accrued
interest on the December financials. Staff informed the Board that $265,000 has been identified
within Fund Balance which cannot be accounted for. The auditors are researching the issue of
whether the funds are tied to either Hensley or Cooper Drive and should have been removed in 1996
and 2006 respectively.
Staff indicated to the Board that the Notes Payable entry to the Balance Sheet had not been made prior
to the Board meeting. Therefore, staff recommended that the Treasurer's Report be tabled until which
time as the Balance Sheet entry has been made.
MOTION: A motion was made by John Yeager and seconded by Mitch Herzog to table the
December 2006 Treasurer's Report subject to the adjustment of the Balance
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January 19, 2007
Page 2 of 4
Sheet. The WEDC Board voted 5 — FOR and 0 — AGAINST in favor of the
motion.
ITEM NO.3—Consider and Act Upon Issues Surrounding the Paving of Martinez Lane.
Staff reported that at the time of the meeting only two bids had been received for the paving of
Martinez Lane. The Board directed staff to obtain a third bid. Staff indicated to the Board that there
may be an opportunity to fund the improvements out of cash reserves opposed to financing the project.
President Fuller directed staff to provide a monthly cash flow report through the end of the fiscal year
so that the Board may determine the cash position of the WEDC should Martinez improvements not be
financed. Staff had no recommendation at this time.
ITEM NO. 4 — Consider and Act Upon Issues Surrounding the Time and Date of Regularly
Scheduled WEDC Board Meetings.
Staff indicated that there was a request by a Board Member to change the regularly scheduled WEDC
Board Meeting from the third Thursday of each month to either the third Wednesday or the third
Friday based upon consistent scheduling conflicts. Should a change be made, staff recommended the
third Friday based upon the time required to finalize the Treasurer's Report.
The specific meeting time and date of the WEDC is not legislatively mandated or specified in the
WEDC By-laws. In May, 2006, the WEDC established the third Thursday of each month at 6:00 p.m.
as the regularly scheduled date and time for the WEDC Board Meetings. In September, 2006, the
meeting time was moved to 6:00 a.m.
Staff recommended that the WEDC Board of Directors establish the third Friday of each month as the
regularly scheduled WEDC Board meeting with a meeting time of 6:00 a.m.
MOTION: A motion was made by Gary Bartow and seconded by Mitch Herzog to change
the WEDC Board Meeting to the third Friday of each month at 6:00 a.m. The
WEDC Board voted 5—FOR and 0—AGAINST in favor of the motion.
ITEM NO. 5—Consider and Act Upon the Election of Officers to the WEDC Board of Directors.
As per the WEDC By-laws, officers are to be elected annually. The consideration of this issue has not
always taken place on a consistent basis. To establish consistency, staff proposed officers be elected
each January.
Current officers of the WEDC are as follows:
Marvin Fuller President
Merrill Young Vice President
Gary Bartow Secretary/Treasurer
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January 19, 2007
Page 3 of 4
Staff recommended that the WEDC Board of Directors elect officers for the 2007 calendar year.
Board Member Young suggested that since Board appointments are made by the City Council in June
of each year, WEDC officer elections should be held in July of each year. Board member Young
continued that this approach would decrease the number of times officer appointments are made
should there be a change in the make-up the Board in June of any given year.
MOTION: A motion was made by Merrill Young and seconded by John Yeager to table the
election of officers until July, 2007, and each July thereafter. The WEDC Board
voted 5—FOR and 0—Against in favor of the motion.
ITEM NO. 6 — Consider and Act Upon the Wylie Economic Development Corporation Annual
Report to be Presented to the Wylie City Council.
As per the WEDC By-laws, the WEDC must present an annual report to the Wylie City Council no
later that January 31St of each year. The report must include, but is not limited to, a review of all
expenditures made by the board, a review of accomplishments, and a review of activities other than
that of direct economic development. Staff presented a draft Report to be presented to the Wylie City
Council on January 23, 2007.
Staff recommended that the WEDC Board of Directors accept the WEDC Annual Report as presented
by staff and recommend it be presented to the Wylie City Council. The Board made no changes to the
Report as presented.
MOTION: A motion was made by John Yeager and seconded by Gary Bartow to accept the
WEDC Annual Report and recommend it be presented to the Wylie City Council.
The WEDC Board voted 5—FOR and 0—AGAINST in favor of the motion.
EXECUTIVE SESSION
The WEDC Board of Directors convened into Executive Session at 6:41 a.m.
I. Convene into Executive Session to Consider and Act Upon Issues
Surrounding the Purchase of 5.0 Acres Located Near the Intersection of F.M.
544 and State Highway 78 as Authorized in Section 551.072 (Real Property)
of the Local Government Code, Vernon's Texas Annotated (Open Meetings
Act).
II. Convene into Executive Session to Hold Deliberations Regarding Economic
Development Negotiations (offer of fmancial incentives to "Project 95K") as
Authorized in Section 551.087 (Economic Development Negotiations) of the
Local Government Code,Vernon's Texas Annotated(Open Meetings Act).
III. Consider and Act Upon Issues Surrounding the Purchase of 3.2 Acres
Located Near the Intersection of Hensley and Sanden Boulevard as
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January 19, 2007
Page 4 of 4
Authorized in Section 551.072 (Real Property) of the Local Government
Code,Vernon's Texas Code Annotated(Open Meetings Act).
RECONVENE INTO OPEN MEETING
The WEDC Board of Directors reconvened into open session at 7:29 a.m. No action was taken as a
result of discussions held in Executive Session.
Note: Board Member Merrill Young departed at 7:21 a.m.
ADJOURNMENT
With no further business, President Fuller adjourned the WEDC Board meeting at 7:30 a.m.
- /7114,04,,
Marvin Fuller, President
ATTEST:
Samuel D.R. Satterwhite
Executive Director