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10-17-1995 (WEDC) Minutes Minutes THE DEVELOPMENT CORPORATION OF WYLIE, INC. Tuesday, October 17, 1995 The Directors of the Development Corporation of Wylie, Inc. met in regular session at 6:00 PM, Tuesday, October 17, 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, and Executive Director C.C. Womack. Also present were City Manager, Mike Collins, Assistant City Manager, Mindy Manson, and City Councilman, John Mondy. The meeting was called to order by President John Yeager. ITEM NO. 1 - Consider approval of minutes of regular meeting held on September 19, 1995. A motion was made by Marvin Fuller to approve the minutes of the meeting held on September 19, 1995 as submitted. Motion was seconded by J.C. Worley. All in favor - motion carried. ITEM NO. 2 - Consider approval of minutes of workshop meeting held on September 20, 1995. A motion was made by J.C. Worley to approve the minutes of the meeting held on September 20, 1995 as submitted. Motion was seconded by Irene Messenger. All in favor - motion carried. ITEM NO. 3 - Review and consider approval of Treasurer's Report ending September 30, 1995. Total funds available 9/1/95 = $320,617.83; income plus available funds = $338,109.26; Expenses during the month of September $4,631.66; Petty Cash Activities = $301.65; total funds available 9/30/95 = $333,779.25. A motion was made by J.C. Worley to approve the treasurer's report as submitted. The motion was seconded by Irene Messenger. All in favor - motion carried. ITEM NO. 4 - Report from Executive Director. The Executive Director reported he had attended several meetings during September. A meeting hosted by Inside Collin County Business brought together economic development representatives from the surrounding areas. The workshop held on September 20, 1995 with The Cornerstone Group resulted in a list of six priorities to be considered by the Development Corporation. PHYSICIANS REGIONAL HOSPITAL reported that increased census counts should alleviate some of their recent financial problems. A meeting was held with Central Ambulance and should result in more patients being transported to Physicians' Emergency Room. SAVAGE PRECISION FABRICATION, INC. has received a contract on their existing building with closing set for late November. NEW PROSPECT continues to look good and has received preliminary financial approval. JON FEW continues to negotiate the purchase of a large section of land within the city limits. TIIREE `N' ONE SHEET METAL, INC. is interested in having a 10,000 square foot building constructed for • them which they could then lease with an option to buy. APEX PLASTIC would like to expand their current facilities if something could be done about Steel Road. A meeting was held with city officials to determine cost estimates for repairs to drainage and paving. The Development Corporation Of Wylie, Inc. Minutes - Tuesday, October 17, 1995 Page 2 ITEM NO. 5 - Report on Industrial Group Appreciation luncheon scheduled for 11:30 a.m. on Thursday, October 19, 1995. The Executive Director reported that 46 of the 103 invited guest had responded favorably. ITEM NO. 6 - Discuss and consider approval of a payment totaling $2,000 to the Hogan Corporation for professional services relating to development of Premier Industrial Park. A motion was made by J.C. Worley that the payment be made to The Hogan Corporation. The motion was seconded by Irene Messenger. All in favor- motion carried. ITEM NO. 7 - Discuss and consider approval of an expenditure totaling $850.00 for the renewal of DCW membership in the North Texas Commission for the period 10/1/95 through 9/30/96. A motion was made by J.C. Worley that membership in the North Texas Commission be continued. The motion was seconded by Irene Messenger. All in favor - motion carried. ITEM NO. 8 - Discuss and consider approval of FEC's proposal to relocate their transmission line in Premier Industrial Park. A motion was made by J.C. Worley to accept FEC Electric's proposal to move the transmission line on the Premier Industrial Park property. The motion was seconded by Kevin St. John. All in favor- motion carried. ITEM NO. 9 - Discuss and consider the firm of Rutledge, Crain and Company to conduct their annual audit of the financial activities of the corporation. A motion was made by J.C. Worley to hire Rutledge, Crain and Company to conduct the annual audit of the Development Corporation of Wylie, Inc. The motion was seconded by Marvin Fuller. All in favor - motion carried. ITEM NO. 10 - Discuss and consider approval of proposals submitted by American National Bank, Wylie and Provident Bank, Wylie in response to our request for a "working line of credit" totaling $500,000.00. A motion was made by Kevin St. John to accept the proposal of American National Bank. The motion was seconded by J.C. Worley. Marvin Fuller abstained from voting. All others in favor - motion carried. ITEM NO. 11 - Discuss and consider approval of an on-going consulting relationship proposal submitted by The Cornerstone Group. John Mondy recommended that the discussion be tabled until after the City Council met in Executive Session with Development Corporation officers. A motion was made by Marvin Fuller to table discussion of this item. The motion was seconded by J.C. Worley. All approve - motion carried. The Development Corporation Of Wylie, Inc. Minutes - Tuesday, October 17, 1995 Page 3 ITEM NO. 12 - Discuss and consider approval for a feasibility study for constructing a 12,000 square foot building for a lease-purchase agreement with Three-N-One Sheet Metal, Inc. A motion was made by Kevin St. John to decline a feasibility study for the purpose of building a lease-purchase facility for a possible relocation prospect. The motion was seconded by J.C. Worley. All in favor - motion carried. ITEM NO. 13 - Citizen Participation. John Mondy announced he has a relocation prospect who is currently looking in Texas or Arizona. The company manufactures safes. They are a privately held company and would require 50,000 square feet, as well as a rail head. They employ approximately 80 persons and are currently located in California. Mr. Mondy will be visiting with the prospect in January and would like a polished proposal to give them. The company is Horizon Manufacturing Company. ITEM NO. 14 - Adjournment. There being no further business, the meeting was adjourned. ohn Ye er, resident Attest: Barbara LeCocq, Secr tart'