01-16-1996 (WEDC) Agenda Packet Agenda
DEVELOPMENT CORPORATION OF WYLIE, INC.
Wylie Chamber of Commerce Board Room
108 W. Marble St., Wylie, Texas
6:00 PM, Tuesday, January 16, 1996 •
Call to Order
Order of Business
1. Consider approval of minutes of regular meeting held December 19, 1995.
2. Consider approval of minutes of special meeting held January 8, 1996.
3. Consider approval of Treasurer's Report ending December 31, 1995.
4. Report from Executive Director.
5. Consider approval of a payment totaling $86,212.49 to East Texas Construction
Co., Inc. For work completed in Premier Industrial Park.
6. Report on financial status,of corporation after 2nd payment on our contract with
East Texas Construction Co., Inc.
7. Discuss participation in the resurfacing of Steel Road in Regency Industrial Park.
8. Discuss retirement reception for Executive Director.
9. Citizen Participation.
10. Adjournment •
Posted, Thursday, January 11, 1996 at 5:00 PM
Minutes
DEVELOPMENT CORPORATION OF WYLIE, INC.
Tuesday,December 19, 1995
The Directors of the Development Corporation of Wylie, Inc. Met in regular session at 6:00 PM,
Tuesday, December, 19, 1995, in the Chamber of Commerce Board Room at 108 West Marble
Street,Wylie,Texas. A quorum was present and notice of the meeting had been posted in the time
and manner required by law. Present were President John Yeager, Secretary-Treasurer Marvin
Fuller, Directors Irene Messenger, J. C. Worley, Kevin St. John, City Manager Mike Collins,
Assistant to the City Manager Mindy Manson, Greg MacLean, P.E. of Hogan Corporation and
Executive Director C. C. Womack. .
The meeting was called to order by President John Yeager. Item numbers 5 and 6 were taken out
of order at the request of City Manager Mike Collins.
ITEM NO. 6 - Discuss and Consider a change order totaling $78,000 added to our initial
contract with East Texas Construction Co., Inc. For$404,394.65. City Manager Mike Collins
explained the change will consist of the extension of 550 feet of paving and other improvements in
association with the new Wylie Service Center. The improvements will extend to the west of Premier
business Park along Hensley Lane and will connect to the Premier Business Park facilities. Mr.
Collins further explained the total cost will be borne by the City and will be only a"pass through"
situation for the Development Corporation. Action requested from the DCW is to approve the
change order. The City will reimburse DCW for all costs of the change order; $79,032.00. Kevin
St. John made the motion to approve the change order as described. Seconded by J. C. Worley. All
in favor, motion carried.
ITEM NO. 5 - Discuss and Consider approval of first payment request from East Texas
Construction Co., Inc. For$61,146.90. J. C. Worley made a motion to approve the payment in
the amount of$61,146.90 to East Texas Construction Co., Inc. Seconded by Irene Messenger. All
in favor, motion carried:
ITEM NO. 1 - Consider approval of minutes from regular meeting held on November 21, 1995.
John Yeager noted there was an error in Item 3, date should be corrected to read "October 31".
Kevin St. John made a motion to approve the minutes as corrected. Seconded by J. C. Worley. All
in favor, motion carried.
ITEM NO. 2 - Consider approval of minutes from Special Meeting held December 4, 1995.
There being no corrections or additions, a motion was made by Irene Messenger to approve the
minutes as submitted. Seconded by J. C. Worley. All in favor, motion carried.
ITEM NO.3- Consider approval of Treasurer's Report ending November 30, 1995. A motion
was made by Kevin St. John to approve the Treasurer's Report as subitted. Second by J. C. Worley.
All in favor, motion carried.
ITEM NO.4-Report from Executive Director. PAR-PRODUCTS of Garland is looking at the
Russell Building on FM544. They are waiting for a permit to operate from the Texas National
Resource Conservation Commission (TNRCC) before they can begin operations. PHYSICIANS
REGIONAL HOSPITAL continues to have problems. Presbyterian Hospitals is seriously considering
a working arrangement with PRH. SAVAGE PRECISION FABRICATION, INC. is moving to
Wylie and has resolved all the obstacles that have arisen. NEW PROSPECT is involved in financing.
JON FEW has been delayed in closing of land transaction due to an omission on the survey. They
expect to close by the end of February, 1996. THREE-N-ONE SHEET METAL has made no
definite decision.
ITEM NO. 7 - Citizen Participation -None
ITEM NO. 8 -Adjournment
John Yeager, President
Atte
•
Bar ara LeCocq, Secreta
Minutes
DEVELOPMENT CORPORATION OF WYLIE, INC.
January 8, 1996
The Directors of the Development Corporation of Wylie, Inc. met in called session at 6:00 PM,
Tuesday, January 8, 1996 in the Chamber of Commerce Board Room at 108 West Marble Street,
Wylie, Texas. A quorum was present and notice of the meeting had been posted in the time and
manner required by law. Present were President John Yeager, Vice-President J. C. Worley,
Secretary-Treasurer Marvin Fuller, directors Irene Messenger and Kevin St. John, City Manager
Mike Collins, and Asst to the City Manager Mindy Manson.
The directors met in this special session for the purpose of reviewing resumes/applications for the
position of Executive Director of the Development Corporation of Wylie, Inc. Following the
discussion, six candidates were selected to participate in video interviewing to be done by Corporate
Interviewing Network, Inc.
A motion was made by J. C. Worley, seconded by Marvin Fuller to extend the invitation for a video
interview to Linda Z. Johnson of Dallas, Jay Anson Porterfield of Commerce, Shea Burgamy of
Austin, J. Mark Flygare of Garland, Fred Guerra of San Marcos and Samuel Satterwhite of
Hollywood, Florida. All in favor- motion carried.
Interview tapes will be reviewed by the Board of Directors on January 20, 1996.
A motion was made for adjournment, motion seconded. All in favor.
Meeting adjourned.
President John Yeager
Att :
Barbara LeCo q, Secreta
Development Corporation of Wylie, Inc.
TREASURER'S REPORT ENDING DECEMBER 31, 1995
• Ending Cash Balance 11/30/95
American National Bank, Wylie 295,197.24
Provident Bank, Wylie 78,587.48
Provident Bank- Petty Cash 187.59
TOTALCASH FUNDS AVAILABLE 11/1/95 373,972.31
AVAIL. FUNDS 12/1/95 PLUS DEPOSITS 373,784.72
Sales Tax Revenue 14,630.34
• Interest Earned on deposits 1,189.33
Government check received 54.59
• Cancelled check#691 (AARP Grp. Ins.) 168.62
Loan repayment(Zan, Ltd.) 10,000.00
AVAILABLE FUNDS DURING MONTH 399,827.60
EXPENSE PAYMENTS DURING MONTH
AT&T 5.48
G.T.E. Southwest, Inc. 55.36 •
Oakridge Country Club 68.30
Wylie Printing & Office.Supply 5.24
Provident Bank, Wylie (941 tax) 521.32
{- Elizabeth Jones 371.67
C.C. Womack 1,739.34
HARP Group Health Insurance 190.00
East Texas Construction Co., Inc. 61,146.90
TOTAL AMOUNT OF CHECKS WRITTEN <64,103.61>
PETTY CASH ACTIVITIES
Funds Available 12/1/95 187.59
Cash Available 1/1/96 187.59
TOTAL CASH AVAILABLE 1/1/96 335,911.58
RECAP OF FUNDS IN EACH DEPOSITORY
American National Bank-Wylie 245,033.40
Provident Bank-Wylie 90.878.18
•
TOTAL CORPORATE FUNDS 12/31/95 335,911.58
•
Development Corporation of Wylie, Inc.
Balance Sheet
December 31 , 1995
ASSETS
CURRENT ASSETS:
American National Bank 245,033.40
Provident Bank, Wylie 90,690.54
Provident Bank, Wylie- Petty Cash 187.59
TOTAL CURRENT ASSETS 335,911.53
FIXED ASSETS
Furniture & Equipment 10,940.05
TOTAL FIXED ASSETS 10,940.05
REAL ESTATE
544 Industrial Park Lots 126,901.00
Premier Industrial Park 406,689.10
TOTAL REAL ESTATE 533,590.10
OTHER ASSETS
Investment- Physicians Regional Hosp.* 110,000.00
TOTAL OTHER ASSETS 110,000.00
TOTAL ASSETS 990,441.68
LIABILITIES & NET WORTH
LIABILITIES & CAPITAL
CURRENT LIABILITIES
941 Payroll Tax Payable 567.86
TOTAL CURRENT LIABILITIES 567.86
TOTAL LIABILITIES
CAPITAL
Corporate Equity 926,318.59
Current Net Earnings 63,555.23
TOTAL CAPITAL 989,873.82
TOTAL CAPITAL & LIABILITIES 990,441.68
* Rutledge Crain & Company, Certified Public Accountants, have mentioned in their 1994 Audit Report which ended
9/30/94, that they were unable to establish a current market value of the stock we own in the name of Physicians Regional
Hospital. Since they can establish no value, they recommend this asset be deleted from our investment portfolio. The
removal of this investment will reduce the current net capital total to$879,441.68.
*Corporation has a contingent liability to East Texas Construction Co., Inc., for$483,426.65. A payment of$61,146.90 has
reduced this amount to$422,279.75.
4 •
11
December Summary
}
Because of the holidays, economic development activity was almost non-existent. There was
some interest during the first two weeks but after that the office could have been closed for the
remainder of the month. There were some telephone inquiries but there appeared to be very little
• substance in any of these calls.
One such call was received from a Mr. Conrad Bayer. He was interested in a possible purchase of
the old abandoned cement batch plant located on FM 1378. His plan was to build a public rental
storage facility. This project would be using ship cargo container trailers placed on a foundation
of railroad cross-ties. When told that this property has an environmental problem he soon lost
• interest and wanted to know if there were other inexpensive properties available in Wylie. This
proposed endeavor didn't sound as if it would be an attractive addition to the local business
community so I did not give the caller any encouragement to locate in this community.
I did,however, give him the name, address, and telephone number of the present owner. He
wanted this information because he thought the property would sell at a depressed price because
of the environmental problem. The present owner is anxious to sell because there may be
extensive underground seepage from buried fuel tanks. This seepage may have contaminated a
residential area and the cost to eliminate this contamination would be enormous.
Another call was received from a Mr. Jimmy Sanger, who represented himself as manager of the
Tomet Manufacturing Company located in Rockwall. He said management of the company was
doing a feasibility study on a possible relocation prospects and was especially interested what tax
abatements were available to industry. He was told they might be available but any abatement
must be negotiated with each taxing entity. No response has been received from Mr. Anderson.
•
A subsequent call was made to Mr. Sanger. He acknowledged receiving the packet and voiced
his appreciation for our response to his inquiry. He said no decision has been made because they
•
are waiting responses from other cities in the Metroplex area. An offer was made for a
•
delegation, composed of public officials and local business executives who would be happy to
meet with their decision makers to answer questions or furnish other information that might
influence their move to Wylie.
A real estate broker called and said he represented a client operating under the name of Fluid
Recycling Specialist Company. His client wanted a 2,000 square foot industrial building and
wanted to sign a month to month lease. I called Mr. John Fitzpatrick and Mr. Gene Beeler to see
if they had a building that might meet the caller's requirements. Mr. Beeler had no vacancy, but
•
Mr. Fitzpatrick had one that might be available after January 1, 1996. This information was
conveyed to the broker and he said that he would look elsewhere to accommodate his client. Mr.
Fitzpatrick's building did not become available, so no further conversation has taken place with
this prospect.
Physicians Regional Hospital
Gross revenue billed during the month was reduced some $200,000.00 from the previous
month's billing of$900,000.00. This reduction is due to the decrease in the daily census count of
December Summary
Page 2 •
the Geophysch Unit. The decrease was attributed to the Christmas holidays when doctors like to
have their patients available to their families during the holiday season.
The daily average census declined from 11.5 per day the previous month to a low of 8.6 during
December. The Med-Surg Unit accounted for over half of the daily count. This reduction of daily
census account will place a financial hardship on the hospital during the next two months.
Gross revenue received during the month totaled$513,000.00. This amount is slightly lower than
• the previous month but was sufficient to meet current cash needs. They continue to have an acute
financial problem but they are hopeful that a Medicare reimbursement check of approximately
$350,000.00 will be received within the next few days. This amount should be sufficient to pay
all accounts current and put the hospital in excellent financial condition to begin the year of
1996.
•
A new family practice physician is joining the local staff and will be moving into the medical
building. His move is expected to increase the Med-Surg daily census count beginning in
February, 1996.
Definite plans are being made to find a suitable entity to purchase the hospital and the adjoining
property. It is hoped that the purchaser will reduce the monthly lease payment and a satisfactory
operating agreement can be negotiated with a well-known respected metroplex hospital.
A six-month repayment schedule on a current lawsuit has been negotiated with the plaintiff and
this should relieve the hospital of continuing legal expenses.
• Savage Precision Fabrication, Inc.
Good news has finally arrived during this month. The Gardners have sold their property in
Garland and have closed the purchase of the Johnston Building in Wylie. Their purchase and
renovation loan has been approved and they have begun their anticipated move to Wylie.
•
An extensive renovation of the interior of the building will be completed in early January: all
floor tile has been replaced, new bath room fixtures, roof repairs, all walls painted; five new
doors have been installed; alarm system installed; some offices have been partially papered; all
• new heating and cooling equipment installed; new front doors; two new front windows; new
overhead doors; improvements to loading dock; installation of new lights in the work area;
removal of smoke stack; new employee break room; and other miscellaneous improvements that
will upgrade this into a first-class downtown building. They have contracted with a firm to move
and install their equipment on the last weekend of January, 1996. This move will be possible if a
C.O. is obtained from the city prior to the anticipated moving date.
All of their present employees have agreed to follow their move to Wylie. This will make a
current work force.of 23 employees and three management personnel. No current plans to add
additional employees except they will advertise in the local paper to employ a delivery truck
driver.
I::
December Summary .
Page 3
1
They have opened an account with a local hardware store and much of the renovation has been
' done by local contractors.They appear to be anxious to support local merchants and be a good
neighbor in the community. I continue to be optimistic that the relocation of this fine company
will provide the added stimulus for the continued economic growth of downtown Wylie.
1
New Prospect
Management continues to indicate that his decision to relocate is still possible because they
continue to provide financial information as requested from the Bank of America. The bank
continues to indicate a desire to approve the loan if sufficient financial information is available.
The local accountant of the relocation prospect continues to be optimistic the loan will be
• approved and the company continues to desire a relocation site in the Premier Industrial Park.
The relocation of this company to Wylie would certainly impact the economic growth of this
community. They have a current work force of 68 and this total continues to grow each year. The
company provides an excellent fringe benefit package for their employees and this makes for a
harmonious workforce.
Mr. Jon Few
Mr. Few is optimistic the company he represents is serious about a major land purchase in this
' area. They have signed a purchase contract for approximately 202 acres and have made an offer
to buy an additional 300 plus acres. The seller of the latter property has not accepted their offer
nor has it been rejected. There is still hope the offer will be accepted, but a negative response will
not affect their decision on the initial land acquisition.
The closing of the land purchase is subject to a satisfactory report after a feasibility and
environmental study has been completed. Mr. Few remains optimistic that the land purchase will
be approved and closed by no later than April 30, 1996.
Three-N-One Sheet Metal, Inc.
Management continues to vacillate in their decision to make a definite decision about divorcing
their sheet metal operations from their air-conditioning activities. I believe the expense involved
in the separation will prohibit an early decision, but I will continue to keep in contact should they
decide to make a move.
December Summary
Page 4
Par Products, Inc.
•
This company has been located in Garland since 1958. They produce a plug that is used in
repairing holes in flat tires. There are three such manufacturers in the United States. Sales are
made throughout the world to large wholesale automobile parts distributors. They then package
• the product to be sold in retail auto parts houses and retail outlets such as Wal-Mart, Target, K-
Mart, and other high volume discount stores.
On October 27, 1995, the company's manufacturing building was destroyed by fire due to and
electrical short-circuit. They began looking for a replacement building and found 902 West Kirby
as a possible location. In their manufacturing process they must have an explosion-proof work
area and sprinkler system. This building did have a sprinkler system but has sufficient footage to
build a fire-walled work area. After extensive cleanup and other interior renovations, the
company has begun to build a fire-proof workroom. They are also making plans to meet the
requirements imposed by the Texas Natural Resources Commission before they will issue a
permit to operate.
•
There has been some concern by local citizens about air contaminants and emissions that would
be harmful to local citizens. The product``Hexane"that is used in their manufacturing process is
non-toxic, odorless, and in no way harmful to the human body. It is highly flammable, and that is
the reason for the fire retardant requirements. There were no complaints filed with the
N.T.R.C.C. during their 37 years in Garland.
• Management has done an excellent job in rehabilitating the building and they appear to be
interested in being good neighbors and citizens of the community. I believe the addition of this
fine company will improve the economic prosperity of this city.
APPLICATION FOR PAYMENT NO. 2
Owner: The Development Corporation of Wylie,Texas For Period From: December 7, 1995
To: December 31, 1995
Project Name: Premier Business Park
Owner's Project No.: Engineer's Project No.: 002-22.42
Contractor: East Texas Construction Co., Inc.
Address: P.O.Box 553
Rockwall,TX 75087
CONTRACT AMOUNT CONTRACT TIME
Amount of Contract as Awarded: 8404,394.65 Contract Date: October 24, 1995
Change Orders: Start Date: November 27, 1995
#1 Time Allotted: 200 cal.days
#2 Time Extensions: 0 cal.days
#3 Revised Contract Time: 200 cal.days
#4 Elapsed: 34 cal.days
#5 % Time Elapsed: 17.00%
#6 Remaining: 166 cal.days
Total Change Orders: $0.00
Total Adjusted Contract: S404,394.65
ESTIMATE SUMMARY
Amount Earned to Date(see attached): $95,791.65
Material on Hand(see attached): $0.00
PROJECT TOTAL TO DATE: 23.69% $95,791.65
Less 10% Retainage: 89,579.17
Less Previous Payments: $0.00
Total Deductions: $9,579.17 ($9,579.171
•
TOTAL AMOUNT DUE THIS ESTIMATE: $86,212.48
Recommende • Approved:
2 a
Yilc
•
By: By:
Date: Date:
Engineer Owner
1/4/96 Page 1 Apl-pmt2
• L.,
.LAN-03-96 WED 11 :58 AM EAST. TEXAS. CONST 214 772 0216 P. 02
EAST TEXAS CONSTRUCTION CO.,INC.
P.O.BOX 553
FCC MALL'TEXAS 75067
•
MONTHLY ESTIMATE •
JOB+F95-000
PRCUECT NAME:PREMIER BUSINESS PARK
• TYPE OF WORK:PAVING,DRAINAGE,WATER.AND SEWER IMPROVEMENTS ESTIMATE NUMBER: #02
• ESTIMATE PERIOCt CEC.7 THRJ CEC.31,1995 CONTRACT NUMBER:
BILL TO:THE CEVELOPMENT CORPORATION OF VYYUE CONTRACT DATE:
P.O.BOX 1467 CONTRACT AMOUNT: $404,3$4,65
• WYUE,TEXAS 75038
DATE: 03-Jan-88
ITEM DESCRIPTION UNIT OF CONTRACT PREY WORK PEFi -OFhSED TOTAL WORN CONTRACT " TOTAL AMOUNT CUE CONTRACT
# OF WORK ME ASU FE,OUANTITIE2PERFORMED THIS PERIOD PERFORMED .UNIT PRICE AMCUNT CUE THIS ESTIMATE AMOUNT
1 UNCLASSIFIED C.Y. 4,476.00 $1.85 38,284.3
EXCAVATION
2 REM EXIST LF. 90.00• $3.00 $270.0
CONCFETE CURB .
3 8'INTEGRAL. LF. 3,110.00 $0.90 $2,768Ac
CONC CURB
4 8"SIN CObi0 ' Y. 8,302.03 322.03 $144,458.2
PAVING ,
5 ASPHALTC CO NC TON 1C0.00 $31.20 $3,120.Cx
SURFACE COURSE
6 FEINCONCFETE • LF. 74.00T $8.50 $829.0
STFEETHEADER .
7 6"UME STABILIZ S.Y. 7,237.00 $1.25 $9,048.2
SU BGRACE
8 HYDRATED TON 110.00^ $92.03 $10.120.Cz
UME .
9 21'RCP LF. 85.03 65.00 65.00 533.00 $2,145,00 62,145.00 $2,145.0
WLEMBE CME NT
16 -4'FCP LF. 833.00 833.00 833.00' $33.CO $2-Y, :66 S27'489.00 527,-46975
W/EMBE CME NT
1I 36'FCP L F. DELETE
W/EMBE Cl 4ENT
12 48"FCP LF. 488.00 488.00 488.03 387.80 $42,946.40 $42,848.40 $42,648.4(
W/EMBE CME NT
13 f10CKRUBBLE X. 170.00 S26.00 $4,420.R
RIP RAP
14 5'STANDARD EACH 1.00 $1 3C0 C0 31,300.0
CURB INLET
•
15 10'STANDARD EACH ' 1.00 $1,75).00- 31750.0
CURB INLET
-1-6-1-7-2 0-'S AN 32700.0Y $5,400.0
CURB INLET
17 ' STANDARD TYPE EACH ' CELETE -
`Y'INLET
18 S/9 STRUCTURAL EACH t 1.00 050 5 -3I.250.00 - ^32J00�
MOOIFX ATIONS
19 CONCPI E--- EACH 5.00 8.00 8.00 3750.00 $4,500.00 34,50040 $3-165-.25 WYES
20 F M I5 C M FROM EACH 1 DIY 1.00 1.00' $503.00, $500.03 Cis $511.0
EXISTING S/s •
21 FEIN CONC FOR C.Y. 5o 2.25 2.25 5565.03 $1,271.25 17251,25 l;3,ib1.s
DRAINAGE STRUC
22 STANDARD 4' EACH 8.00 3.03 3.00' 8CC $1,0:50.00 $S:300.063-,150.00 f6.303).0
I MANHOLE
23 6'MANHOLE EACH 1.00 1.00 1.00 31,293.03 $1,293.00 $1,2c,0.0
OVER SEWER MAIN
24 8'PVC SDFr15 LF. 1,820.00 1,820.00 1,820.CU S12.93 323,25161X) 523.293.0
SANITARY SEWER
25 CONNECT TO EACH 1,0 " 1.00 1.00 3750.00 3750.00 $
EXIST S/S MAINS
29 8"GATE VALVES EACH 8.00 • 1#,00 8.00 "=-OT----1a,52p,Cp $5.520.0
27 12'GATE VALVES EACH 3.00' 3.00 3.00 $935.00 $2,8C5.00 - $2,805.0
28 WWATE R MAIN L F. ^ 1,350.03 1,350.03 I,350.00 $11.60 $15,960.co S 15,660.0
W/EM88CMENT
29 STANDARD EACH 7.00 B.Ca 8 I,395.00 ,370.00 $8,370.00 oye6 C
FIFE HYDRANTS
30 12'WATER MAIN LT. • 1,485.03 650.CC 150.00 803.C3 523.93 318, ,5
W/EM BE WE NT
S I BO I�iNC1UNCER L F. 70.00 $I16,0U $S,i20.0
RAILROAD .
•
32 BORING UNCER LF. 145.00 $I18.00 318,^'e&'4.0
HIGHWA';
0
EAST TEXAS CONSTRUCTION CO.,INC.
P.O.BOX 553
ROCKWALL,TEXAS 75087
MONTHLY ESTIMATE
JOB#95-000
PROJECT NAME:PREMIER BUSINESS PARK
TYPE OF WORK PAVING,DRAINAGE,WATER,AND SEWER IMPROVEMENTS ESTIMATE NUMBER: #02
ESTIMATE PERIOD: CEC.7 THRU DEC.31,1995 CONTRACT NUMBER:
BILL TO:THE CEVELOPME NT CORPORATION OF WYUE CONTRACT DATE:
P.O.BOX 1467 CONTRACT AMOUNT: $404,394.65
WYLIE,TEXAS 75038 .
DATE: 03—Jan-96
ITEM DESCRIPTION UNIT OF CONTRACT PREV WORK PERFORMED TOTAL WORK CONTRACT TOTAL AMOUNT DUE CONTRACT
# OF WORK MEASURE QUANTITIES.PERFORMED THIS PERIOD PERFORMED UNIT PRICE AMOUNT DUE THIS ESTIMATE AMOUNT
33 CONNECT TO EACH 1.00 $850.00 $8i°0.00
EXIST WTR MAINS
34 BROADCAST S.Y. 4,400.00 $0.85 $3,740.00
GRASS SEEDING
EXTA WORK
23A EXTRA DEPTH LF. 3.00 3.00 $200.00 $600.00 $600.00
IN 6'MANHOLE
•
CONTRACT JAM OUNT $404,394.65 TOTAL AMOUNT CUE FOR WORK PEFORMED $163.732.E
PERCENT COMPLETED 40.49% LESS RETAINAGE 10.00°/ $16.373.2
GROSS AMOUNT DUE $95,791.65 AMOUNT PAYABLE ON CONTRACT $147,359 3
RETAINED THIS PERIOD $9,579.17 LESS PREVIOUS PAYMENTS $61,146.9
AMOUNT DUE THIS ESTIMATE $86,212 4
APPROVED BY:EAST TEXAS CONSTRUCTION CO.,INC. LESS OTHER DEDUCTIONS
NET AMOUNT DUE THIS ESTIMATE $86,212.4
' APEX PLASTICS and TOOLING, INC.
22 STEEL RD.
WYLIE,TEXAS 75098
214/442-1492
•
January 9, 1996
John Yeager, President
Development Corporation of Wylie
P.O. Box 1467
Wylie, TX 75098
Dear Mr. Yeager:
I have had several conversations with Charlie Womack and J.C. Worley concerning
the following subject. I am willing to build (or have built) a 10,000 square foot
building to expand my business here in Wylie, subject to the following:
1) Steel Road will be completely redone at an approximate cost
of S110,000 (figures provided by Mike Collins, City Manager).
2) Local landowners will contribute$1,000 each, for a total of S10,000.
3) The City and the Development Corporation will contribute $50,000 each.
As an aside, my business pays approximately$3000 -$5000 per year in property taxes
to various local taxing authorities. Additionally, the owner of the building pays
another$4000 per year. This expansion should eventually double those figures.
Thank you for your time and consideration on this matter.
Sincerely,
____(
/
T. ' ,.ster, Pres' ent
I'
Apex Plastics & Tooling
TSF/pjs
•
cc: C. C. Womack
J.C. Worley
ivlike Collins
Marvin Fuller