Loading...
07-14-1992 (WEDC) Agenda Packet DATE: 07/10/92 TIME POSTED: 3:30 P.M. MEETING DEVELOPMENT CORPORATION OF WYLIE, INC . TUESDAY , JULY 14, 1992 4 : 00 PM 2000 HIGHWAY 78 NORTH, WYLIE, TEXAS CALL TO ORDER ORDER OF PAGE BUSINESS NUMBER BUSINESS 1 Discuss and Consider Approval of Minutes of June 9, 1992 Regular Meeting of the Development Corporation of Wylie , Inc . 2 Discuss and Consider Treasurer's Report 3 Oath of Office for New Member 4 Discuss and Consider Appointment of Secretary/ Treasurer 5 Discuss and Consider Proposal from Master Brake Svc . 6 Discuss and Consider Proposal from Physicians Regional Hospital 7 Report from ExecutiveDirector 8 Finalize Semi-Annual Report to City Council 9 Recess Open Meeting 10 Convene to Workshop to Discuss Goals and Objectives 11 Reconvene Regular Meeting 12 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. 13 Wylie Residents Wishing to Speak Should Limit Remarks to a Maximum of Five ( 5) Minutes 14 Adjourn NOTICE OF MEETING Notice is hereby given that the Economic Development Co poration Board of Wylie will meet at 4 : 00 P.M. on the � day of t , 1992 at 2000 Highway 78, North, in the City of Wylie , Texas , for the purpose of considering the above agenda . Carolyn Jone , City Secretary POSTED THIS THE /Q DAY O , 1992 , AT . .3v". MINUTES ' DEVELOPMENT CORPORATION OF WYLIE, INC. JUNE 9, 1992 The Directors of the Development Corporation of Wylie, Inc . , met in regular session at 4: 30 PM on Tuesday, June 9, 1992 in the Break Room of the Municipal Complex, 2000 SH78 N. , Wylie, Texas. 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, John Yeager , John Tobin, Executive Director Charles Womack, Mayor John Akin, City Manager Steve Norwood and Barbara LeCocq, Secretary. The Meeting was called to order by President Jim Smith. ITEM NO. _1_7_ DISCUSS AND CONSIDER APPROVEL_OF MINUTES FR[}M MEETING HELD ON_MAy__12,_1992: A correction to Item No. 3, CHAMBER OF COMMERCE PRESENTATION, was to note that John Yeager had made a motion to give the Economic Development Committee of the Chamber of Commerce $12, 000 with the first quarterly payment of $3000 being made on June 1 , 1992 and the final payment being made on March 1 , 1993. A correction was made to change the word "Board" following Development to ''Corporation" . Corrections were made in punctuation and typographical error . Typos and corrections as to content will be noted. A motion was made by James Blakey to approve the minutes as amended, seconded by Bart Peddicord . Motion carried, all in favor . ITEM NO. 2 - CITY MANAGER PRESENTATION OF BUSINESS_PARKS NEEDS: Mr . Norwood stated that he was not formally asking for anything at this time; however , that may come at a later date. City Manager Steve Norwood asked that the Development Corporation look at doing some street reconstruction in the business parks. Mr . Norwood ackowledged there might be some legalities that would need to be observed; however , he stated, that EDC funds can be legally used to improve the streets in the existing parks. There is a need to upgrade signs and look at increasing industrial growth as well as retail businesses. Mr . Norwood stated that the present state of some of the business parks is not one that would present an enticing image to a prospective buyer . Mr . Norwood asked that the Development Corporation use some of the money that is generated by the 1/2 cent sales tax to upgrade the streets in these business parks to encourage businesses to relocate to Wylie. Mr . Norwood said he felt the Corpoation needs to spend some money for business retainage as well as to bring in new business. ITEM NO. 3 - REVIEW SCRIPT FOR VIDEO AND AUTHORIZE ANY NECESSARY CHANGES: Jim Smith stated that the interviews do not project the image the Corporation is looking for . Charlie Wc'rn.ack: stated that he had nine comments: r. 1 ) need to include the number of churches in the City; (2) need to use one of the new elementary schools; f3) include the Birmingham house; (4) include the Birmingham scholarship fund; (r) mention City' = outstanding Police and Fire Departments; (F6) have .a picture and dialog of PIP meeting ;P.artners in Development ) ; include some of the better resident:i. al homes: (8) include the Wylie Supermarket because it has been here for a long time; i,q have our citizens write out their comments and then dub in the voice of a professional speaker . Discussion pointed to a need to include Armory and Extruders as well as include Rustic Oaks addition rathec'r than Wyndham Estates. Try to get a blend of the void and the new. Li 'et was passed around to members by .f _ ITt Smith to .=a d d to t h e i i._t of i-h i n iy'-?. to i be included in t}l B video. Jim Smith se:I.d he would contact Michael Brown, producer the video, and give him the Corporations comment:.. ITEM NO. 4 - DISCUSS AND CONSIDER SEMI-ANNUAL REPORT TO THE CITY OF WYLIE: Report due to the City of Wylie in June. Covers period November to June (through May) . Charlie Womack , Jim Smith, and Bart Peddicord will prepare a report to the City. ITEM NO. 5 - DISCUSS AND CONSIDER QUESTIONNAIRE FROM THE CORNERSTONE GROUP: Jim Smith asked if the members wanted to respond. It is a survey that the Texas Municipal League asked the Cornerstone Group to prepare. It is a survey to determine the way in which the EDC funds are being or will be used. Members filled out questionnaire together at the meeting. ITEM NO. 6 - REPORT FROM EXECUTIVE DIRECTOR: There are three compnaies that are at this point , considering moving their operations to Wylie. They are Metro Cast , Golden Fickle and Master Brake Systems, Inc . The Director ' s report is attached to the minutes, and are a part of the minutes. ITEM NO. 7 - DISCUSS AND CONSIDER AUTHORIZING PAYMENT TO CITY OF WYLIE FOR PURCHASE OF OFFICE SUPPLIES - NAME PLATES FOR $22. 75: Motion was made and seconded to pay City for the name plates in the amount of $22. 75. Motion carried, all in favor . ITEM NO. 8 - DISCUSS AND CONSIDER TREASURER'S REPORT: Bart Peddicc'rd, Treasurer- reported that the Balance on hand on 4. 41. 92 was $294, 687. 77. Expenditures were $424. 75 to Charlie Womack, salary; $95. 00 Womack, expenses; $78. 00 Provident Bank, supplies; $50. 00 City of Wylie, rent ; $424. 73, Womack: salary. Income $20, 523. 58 from City of Wylie sales tax revenue; $912. 83 Provident BanF::, interest on deposits. Total 5. 31 . 92, $31F,, 051 . 68. These accounts are reconciled with the bank statement . Liabilities - income tax withheld and all employment taxes '$679. 00, obligation to Holland Hitch of $28, 000. Treasurer ' s report accecpted by unanimous. vote. ITEM NO. 9 RECESS OPEN MEETING & ITEM NO. 10 RECONVENE INTO WORKSHOP: Regular meeting was recessed and the workshop convened by President Jim Smith . General Discussion included :regit _'_'_ for Corporation to underwrite down payment of $50, 000 for Robert Arden to purchase the strip Center where his business is located. Offers a second lien for five years at: i2 interest . Discussed the need to identify commercial and industrial properties. John Yeager stressed the need for some written guidelines and an application for. companies requesting grants and/or aid from the Corporation. Di =:.rus=e" _!._tnga.ng meeting time to00 PM from 4: 0 FM.Concen: is was tom make that change and to instruct the secretary to be sure and underline that fact on the next agenda. ITEM NO. 11 - RECONVENE REGULAR MEETING ITEM NO. 12 - CITIZEN PARTICIPATION: None ITEM NO. 14 - ADJOURNMENT: There ;ei ;n;g no further business, .he meeting ting was ad turned by sir!_.i Jn. Jim Smith , Fresid n.t -- - Retfully 'submitted: i • f4,:/// ' ,J.L.W _// / Barbara LeCocq, Secret ry ACTIVITIES DURING MAY 1992 Currently, we are visiting with three separate companies that have indicated an interest in moving their operations to Wylie. These companies are: Metro Cast, Golden Pickle and Master Brake Systems, Inc. We have discontinued current dialogue with two prospects that indicated an interest provided there were sufficient financial incentives to warrant a move to Wylie. These incentives include: cash grants, tax abatements, working capital loans, and unencumbered business properties. The companies that have discontinued dialogue are: N.T. , Inc. and Innovative Manufacturing, Inc. One local company has requested an outright cash grant totalling $75, 000. 00. This request is made because the owner has recently purchased and moved another company to the City of Wylie. An on-site inspection and a oral interview has been conducted by all members of the Board of Directors, Development Corporation of Wylie, Inc. The reluctance of the owner to furnish sufficient current financial information has delayed a definite response to the request. All directors of the Development Corporation and members of the Economic Development Council attended an all day training session in Dallas with members of the Texas Utilities Economic Development Department. Several members of the TU group spoke on various business development subjects. They emphasized that business and industrial development doesn't materialize immediately, but is a long tedious negotiating period before positive results are realized. They emphasized the fact that all governing entities and the community must work together in any attempts to bring new business to a city. Another strong admonition was: "Do not forget the existing businesses that are now located in your city, because they are your greatest allies when a prospect makes inquires about the business climate of your city. " On June 3, 1992 the Economic Development Training Division of the Texas A. & M. University System will conduct an all day seminar in conjunction with Garland Economic Development Department. This seminar will deal with business retention and expansion. I plan to attend, because the information should be helpful in my current negotiations with two local companies that are experiencing temporary financial problems. The Economic Development Council and the Chamber of Commerce are hosting a luncheon in early June at the Birmingham Elementary School for all retail establishments, service companies, and professional people. This meeting should indicate to the business community that their endeavors are appreciated. Beginning July 1, I will become a full-time employee of the corporation and move my permanent office to the Wylie City Hall Complex. You are welcome to visit my office or call the city number 442-2236. I will appreciate any assistance, referrals or any other information that will promote and retain a strong business and industrial economy in Wylie. PROSPECT REPORT N. T. Inc. All negotiations have start-up re been suspended because stncial prt up capabilities far exceeded the their either city or the corporation. Terry Mulholland d/b/a negotiations Innovative Manufacturing ne otiations have been to Co. management has raised sufficient terminated management puntil start-up operation. capital to organize a Andacor, Inc. No dialogue during May because there were no properties that would be of interest to their inves Metrocast tors. No progress to report business from Garland to the re-location of negotiate f e Wylie. A local bank thisc to ne st Admanistraan firnthe company with th continues contractBue to The company signed Small understand thethe old Tarrant in a butwoption has expired. building development indicates a possibleproblemxed. This sufficient funds to finance t ve he move, in acquiring Perma Tune, Inc. No new ofdevelopments. owner of friendMr. Harold The this company Engineering CO, Smith owner of R & D Aeronautical is a Engi theMr. Smith is seekingAeronautical from development corporation a cash no action to and I believe madek nmove this company until decision will regarding his request, a is Golden Pickle Co Gampand, is owned by Mr. Steve The company been ollettin business and is and has continue has located in yearseran larger toincrease for eighteen facilities, sales that now any expansion Their present location restrict another expansion site. . plans and theywill move but They have contrcted forcided to ini Garland bu tare finding it difficult a site extendeddng ptermit from the city. to obtain a s d theyconsider a move Wylie invitation we has been ass would appraise locating alternateaatdaneben Master Brake Systems, Inc. This is young deviceng his for tee company that has domiciled trucking Industryed is are • •The tom unable to expand in their additional space but principal owners present location. thes very te has a machine shop One of Wes erinterestedted two in moving the company Pin Wylie and he haveuntil the sites, but to our city. acility, other partners have an chancestoninspectlbe made each