11-12-1991 (WEDC) Agenda Packet MEETING
DEVELOPMENT CORPORATION OF WYLIE , INC.
TUESDAY, NOVEMBER 12 , 1991
4 : 30 PM
2000 HIGHWAY 78 NORTH, WYLIE , TEXAS
CALL TO ORDER
ORDER OF PAGE
BUSINESS NUMBER BUSINESS
1 1 Discuss and Consider Approval of Minutes of October
3-. 61ckc 8 , 1991 Regular Meeting of the Development
Tv13 T:r" Corporation of Wylie , Inc .
2 70� Discuss and Consider Approval of Treasurer's Report
33 .6t��c
Presentation from Richard H. Johnston , Executive Vice
President , SIMI , Children's Clothing
4 2 Discuss Memorandum from City of Wylie City Attorney
Regarding New Legislation for Economic Development
Corporations .
5 Discuss and Consider Preparation of Annual Plan
6 Recess Open Meeting
7 Convene to Workshop to Discuss Goals and Objectives
8 Reconvene Regular Meeting
9 Citizen Participation
In Accordance With the Open Meeting Act , the
Development Corporation will hear comments of
Public Interest From Residents of the City of
Wylie . Any discussion must be limited to
placing the item on a future agenda for further
Consideration .
Wylie Residents Wishing to Speak Should Limit
Remarks to a Maximum of Five ( 5) Minutes
10 X C Adjourn
NOTICE OF REGULAR MEETING
Notice is hereby given that the Economic Development Corporation Board of
Wylie will meet at 4 : 30 P .M. on the /2 C/C, day of jbuty/x...6.,...„, , 1991
at 2000 Highway 78 , North , in the City of Wylie , Texas , for the purpose
of considering the above agenda .
Z� A)
aro aro yn Jones , City Secretary
POSTED THIS THE Ji : DAY OF ). , 1991 , AT, '01PM.
DIRECTORS OF DEVELOPMENT CORPORATION OF WYLIE , INC .
MINUTES
October 8 , 1991
The Directors of the Development Corporation of Wylie , Inc .
met in regular session at 4 : 30 P .M. on Tuesday, October 8 ,
1991 in the Conference Room at the Municipal Complex . A
quorum was present and notice of the meeting had been posted
in the time and manner required by law. Those present were
Jim Smith , President ; Bart Peddicord , Secretary-Treasurer ;
James Blakey , Vice President and members John Yeager and
John Tobin . Also present were Mayor John Akin and Acting
City Manager Carolyn Jones .
Jim Smith called the meeting to order .
APPROVAL OF MINUTES OF SEPTEMBER 10 , 1991 : John Tobin made
a motion that the minutes be approved without any
corrections . John Yeager seconded the motion . The motion
carried with all in favor .
APPROVAL OF TREASURER REPORT: Bart Peddicord , Secretary-
Treasurer , gave a report on the expenditures and revenues of
the Development Corporation of Wylie , Inc . He reported the
current balance to be $ 193 , 740 . 14 , sales tax received in
August was $ 14 , 152 . 48 interest received was $710. 76 and
expenditures in the amount of $50 . 00 to the City of Wylie . A
motion was made by James Blakey to approve the report . The
motion was seconded by John Yeager . The report was
unanimously approved .
DISCUSS AND CONSIDER PREPARATION OF ANNUAL PLAN: This is a
discussion item only .
RECESS REGULAR MEETING:
WORKSHOP DISCUSSION OF GOALS AND OBJECTIVES : Goals and
objectives were discussed .
RECONVENE REGULAR MEETING
There being no other matters of business for discussion , a
motion was made by John Yeager to adjourn and seconded by
John Tobin . The motion carried with all in favor .
Minutes of the October 8 , 1991 , 1991 regular meeting
approved by the Board of Directors at its meeting on
November 12 , 1991 .
Barton Peddicord , Secretary-Treasurer
L
MEMORANDUM
DATE: October 24 , 1991
TO : Carolyn Jones , Acting City Manager
FROM: Steve Dieter , City Attorneylop
'RE : Economic Development Funds
In reviewing some Municipal Finance Publications this past
week I noticed an article concerning amendments to the
Development Corporation Act . From the language in the
article I was unclear what the amendments were so I obtained
copies of the actual House Bills and Senate Bills .
Most of the changes would not apply to our local Economic
Development Corporation . There is one notable exception
though that being the language of Senate Bill 787 . Senate
Bill 787 removes the previous prohibition against using the
EDC funds for water and sewer facilities and now
specifically allows the funds to be used for these purposes .
The pertinent part of the bill states as follows :
"The Corporation may undertake a Municipal Water Supply
project and provide related transmission and treatment
facilities connected with a Municipal owned or operated
water system or sewage system . "
Certainly whether or not the EDC Board would want to
involved in this type of activity with the City would be up
to the board . However , I do believe it is an avenue which
should be pursued .
The funds necessary for utility extension in regard to the
Armory project might very well be an appropriate area for
the Development Corporation to become involved . As I recall
they had considered this issue before . Now they have
specific authority for making such contribution it would
seem like a good idea , at least at first glance .
I would suggest that somebody from the City contact someone
from the Development Corporation to explore the
possibilities of using some Development Corporation funds on
the Armory Project or other appropriate project .
If you require further follow-up on my part please advise .
cc : City Council
Paul Beaver , City Engineer
Jim Smith, Development Corporation