06-20-1995 (WEDC) Minutes Minutes
DEVELOPMENT CORP. OF WYLIE, INC.
Tuesday, June 20, 1995
The Directors of the Development Corporation of Wylie, Inc. Met in regular session at 6:00 PM
Tuesday, June 20, 1995 in the Chamber of Commerce Board Room at 108 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, directors Irene Messenger and Marvin
Fuller, and Charlie Womack Executive Director. Directors John Mondy and Bud Naish were
absent.
ITEM NO. 1 - Consider approval of minutes from regular meeting held on May 16, 1995.
A correction was made to Item No. 2, it should have read"Irene Messenger seconded the
motion". In Item No. 4 it should have read "Marvin Fuller made the motion." A motion was
made by Marvin Fuller to approve the minutes as amended. Seconded by Irene Messenger. All in
favor- motion carried.
ITEM NO. 2- Consider approval of minutes from Workshop held on June 8, 1995. The last
paragraph should be deleted, this statement was made after the meeting was adjourned. Marvin
Fuller made a motion to approve the minutes as corrected. Irene Messenger seconded the
motion. All in favor - motion carried.
ITEM NO. 3 - Consider approval of treasurer's report ending May 31, 1995. The
Treasurer's report reflected Total Funds Available on April 1, 1995 $246,487.05, Sales Tax
revenue of$30,783.25, land lease payment $500.00, interest earned $822.60, money market funds
$246,309.97; Total Money Market funds Available $278,415.82. Expense payments during
month $5,732.56, petty cash balance $490.00; Total funds Available 6/1/95 $273,173.26.
Following routine questions regarding expenses, a motion was made by Irene Messenger to
approve the treasurer's report, seconded by Marvin Fuller. All in favor - motion carried.
ITEM NO. 4 - Report from Executive Director. Mr. Womack reported there were no new
prospects this month. He has attended meetings related to economic development in Collin
County and Athens. He reported on new programs offered by Collin County Community College.
Reports on Physicians Regional Hospital; Mr. Dave Osborn, prospect looking for a site for an
office building; Michaels Stores; and a new prospect that Mr. Womack has met with on several
occasions. The prospect has been involved in other activities and has delayed plans for an
immediate building project.
ITEM NO. 5 - Discuss and Consider approval to submit a loan request in the amount of
$500,000 to the Texas Leverage Fund for the building of a street and completing the
infrastructure improvements in Premier Industrial Park. Mr. Womack related that Mike
Collins, Administrative Assistant to the City Manager, had requested this item be placed on the
agenda to acquire funds to complete the infrastructure on Premier Industrial Park. The ensuing
discussion showed a need for additional information from the City before making a decision. A
motion was made by Marvin Fuller to table the item until more information is made available to
the corporation. Seconded by Irene Messenger. All in favor- motion carried.
ITEM NO. 6 - Discuss and Consider approval of operating budget for fiscal year beginning
October 1, 1995, ending September 30, 1996. The directors asked we obtain operating
budgets from other development corporations. Determine percentage of income used for
consulting fees. The directors reviewed the proposed budget and made the following changes:
add dues to the Chamber of Commerce of$225; $25,000 for consulting and marketing fees;
additional $1000 for liability insurance coverage; addtional $200 for postage; delete $200 for Wall
Street Journal; additional $300 for various supplies; increase salaries by $1000; bringing the total
projected expenses to $102,525. Marvin Fuller made a motion to submit the final DCW operating
budget to the City on July 17 in the amount of$102,525, as amended. Seconded by Irene
Messenger. All in favor- motion carried.
ITEM NO. 7 - Discuss Economic Development Workshop and approve recommendation
for future activities. Marvin Fuller said he had good responses from guests. Marvin Fuller made
a motion to table, seconded by Irene Messenger. All in favor-motion carried.
ITEM NO. 8 - Citizen Participation- none
ITEM NO. 9 -ADJOURNMENT. There being no further business, a motion was made and
seconded to adjourn the meeting. Meeting adjourned by President John Yeager.
"oeager,
President
AT ST:
B rbara LeCocq, Secretary