03-22-2013 (WEDC) Minutes Minutes
Wylie Economic Development Corporation
Board of Directors Meeting
Friday, March 22, 2013 6:30 A.M.
WEDC Offices—Conference Room
250 South Highway 78—Wylie, Texas
CALL TO ORDER
Announce the presence of a Quorum
President Marvin Fuller called the meeting to order 6:30 a.m. Board Members present were:
Todd Wintters,John Yeager, Demond Dawkins, and Mitch Herzog.
WEDC staff present was Executive Director Sam Satterwhite and Senior Assistant Gerry Harris.
Ex-officio member Mindy Manson was present.
CITIZEN PARTICIPATION
There being no citizen participation, President Marvin Fuller proceeded to Action Items.
ACTION ITEMS
ITEM NO. 1 — Consider and act upon approval of the March 7, 2013 Minutes of the Wylie
Economic Development Corporation (WEDC) Board of Directors Meeting.
Pertaining to Item No. 2 (Wylie Ice Cream Holdings), President Fuller requested that the minutes
reflect that the WEDC payment(not the loan)was assigned to the Texas Mezzanine Fund.
MOTION: A motion was made by John Yeager and seconded by Mitch Herzog to
approve the March 7, 2013 Minutes of the Wylie Economic Development
Corporation as amended. The WEDC Board voted 5 — FOR and 0 —
AGAINST in favor of the motion.
ITEM NO. 2 — Consider and act upon approval of the February 2013 WEDC Treasurer's
Report.
President Fuller asked that a footnote be added to the Balance Sheet Sub Ledger—Notes Payable
that references a loan (Woodbridge Parkway) in the amount of$1.4 will be added to the balance
sheet upon the first draw on that note.
MOTION: A motion was made by Todd Wintters and seconded by John Yeager to
approve the February 2013 WEDC Treasurer's Report as amended. The
WEDC Board voted 5 —FOR and 0—AGAINST in favor of the motion.
WEDC—Minutes
March 22, 2013
Page 2 of 4
ITEM NO. 3 — Staff Report: review issues surrounding an Amended and Restated
Performance Agreement between the WEDC and Woodbridge Crossing, Commercial
Lease/Performance Agreement between the WEDC and ACE, Extension of Woodbridge
Parkway, Woodbridge Centre, B & B Theatre, Board & Commission applications, proposed
commercial development located at the southeast corner of F.M. 544 and SH 78, WEDC
property located at 2806 F.M. 544, Huffines development located in St. Paul, Exco Extrusion
Dies, and regional housing starts.
Woodbridge Crossing
The Sales Tax Reimbursement Report was presented which identified all sales taxes received
through January 2013 within Woodbridge Crossing for the City General Fund, the WEDC, and
the 4B. As a reminder, the City and WEDC will be reimbursing 85% of all sales tax generated
within Woodbridge Crossing through October 2013. Beginning October 2013, 65% of all sales
taxes generated will be reimbursed. Woodbridge Crossing is eligible for a maximum $6 million
in sales tax reimbursement through September 2021. $1,619,085 has been reimbursed to date
with net receipts of$920,656 after reimbursements.
Ascend Commercial Lease and Performance Agreement
The Ascend Custom Extrusion Critical Dates Analysis and Performance Agreement Monitoring
Procedures was presented. Payment #2 of 5 for the Economic Incentives was funded with
Ascend meeting all Performance Obligations within Sections A and B of the attachment. Ascend
is currently operating 3 shifts in extrusion and packing, 2 shifts in shipping, and 1 ten hour shift
in the paint line. There are currently 163 Ascend personnel and 25 temps.
Extension of Woodbridge Parkway
Engineering plans are complete for the extension of Woodbridge Parkway. Right-of-way from
Mr. Don Herzog and the WISD has been secured. Mr. Wayne Rich has been presented with an
offer with the right-of-way agent expecting a response within the next several days.
The Engineering Department fully expects to release utility work and go out to bid for
construction in April with a construction time frame of 12— 18 months.
Woodbridge Centre
Staff reported that Kroger Marketplace is scheduled to open in June with Clark Street to
complete 22,000 square feet of adjacent lease no later than July 1st. Subway, Castle Nails, Sports
Clips, and Ideal Dental will occupy approximately 8,500 square feet. An orthodontist has also
shown an interest in the lease space. IHOP has toured the site and is `evaluating their presence
in the region'.
WEDC—Minutes
March 22, 2013
Page 3 of 4
B &B Theatre
Staff announced that B&B Theatre will be holding a grand opening gala on April 25th at
approximately 6:00 p.m. This ticketed event will include a formal presentation by B&B and the
Mayor along with food and beverage with all proceeds going to the Wylie Christian Care Center.
Including approximately 80 company and supplier representatives, B&B hopes to attract up to
450 guests to the event. The WEDC will be purchasing tickets for Board and Council members
and select local business representatives.
Board& Commission Applications
Mr. Fuller and Mr. Herzog's terms are up as WEDC Board members. Applications for
reappointment are due to the City Secretary no later than April 1, 2013. The Wylie City Council
will interview candidates in June or early July and make final appointments in July.
Proposed Commercial Development located at the Southeast Corner of FM. 544 and SH 78
A concept site plan was presented for speculative retail space off of Kirby and the Brookshire's
access drive. The concept is not acceptable to the city as a fast food site due to no escape lane on
the drive thru and vehicles backing into the drive thru lane. This activity seems to be the result
of recent offers by adjoining property owners. Staff stated his belief that it would be difficult to
develop this site with a retail use due to parking requirements.
WEDC Property Located at 2806 F.M 544
Staff continued to discuss the use of WEDC property on 544 as a gardening center. Currently
though the WEDC has entered in to a two-year lease with Lighting Solutions and Service for use
of the property. Within the lease there is a 120-day `notice to vacate' clause.
Huffines Development Located in St. Paul
A lot plan was presented from a Huffines community planned for an area north of Parker Road
and southeast of Seis Lagos. A portion of the proposed 1,452 lots are located in the City of
Wylie ETJ with a Development Agreement identifying lot and house size already in place. With
no water, sewer, or fire service provided by Wylie, only platting of the area within the ETJ will
be required.
Exco Extrusion Dies
Staff informed the Board that Exco Extrusion has purchased B.E.&H. Extrusion Dies from Mr.
Jerry Buchanan. Headquartered out of Canada and having Columbia and Michigan locations,
Exco is entering the Texas market with its recent purchase in Wylie. Exco will remain in its
current location for at least the next eighteen months. After that period of time Exco will be
looking to secure a 40,000 square foot facility. Staff has already begun to discuss expansion
plans with the Exco Operations Manager.
WEDC—Minutes
March 22, 2013
Page 4 of 4
Regional Housing Starts
Fourteen homes were permitted in Wylie for February 2013. Sachse, Lavon and Murphy
permitted a combined seventeen homes over the same period
No action was requested by staff for this item.
EXECUTIVE SESSION
The WEDC Board recessed into Closed Session at 7:22 a.m. in compliance with Section 551.001
et.seq. Texas Government Code to wit:
Section 551.087 (Economic Development) of the Local Government Code, Vernon's Texas
Code Annotated (Open Meetings Act).
• Project Detroit
Section 551.072 (Real Estate) of the Local Government Code, Vernon's Texas Code Annotated
(Open Meetings Act).
• Consider the purchase of property located near the intersection of F.M 544 and State
Highway 78.
RECONVENE INTO OPEN MEETING
The WEDC Board of Directors reconvened into open session at 7:52 a.m. and took no action.
ADJOURNMENT
With no further business, President Fuller adjourned the WEDC Board meeting at 7:52 a.m.
d§r/44 g
Marvin Fuller,President
ATTEST:
Samuel Satterwhite,Director