03-26-1996 (WEDC) Minutes Minutes
THE DEVELOPMENT CORPORATION OF WYLIE,INC.
Tuesday,March 26, 1996
Board Members Present:
Marvin Fuller
Irene Messenger
Kevin St. John
J.C. Worley (departed at 7:00 p.m.)
John Yeager
Staff Present:
Samuel Satterwhite, Executive Director
Others Present:
Brad Jacoby
Bryan Vinson
With notice of the meeting posted in time and manner required by law and a quorum of Board
members present, the Board of Directors of the Development Corporation of Wylie, Inc. met in
Regular Session on Tuesday, March 26, 1996 in the Chamber of Commerce Board Room at 108
W. Marble Street, Wylie, Texas.
The meeting was called to order by President John Yeager at 6:00 p.m.
ITEM NO. 1 - Discuss and Consider Approval of Minutes for the February 20, 1996
Regular Board of Directors Meeting of the Development Corporation of Wylie,Inc.
Members of the Board requested that the February 20, 1996 minutes be amended to reflect which
Board members made and seconded a motion.
MOTION: A motion was made by Irene Messenger and seconded by Kevin St. John
to approve the minutes for the February 20, 1996 Regular Board of
Directors Meeting of the Development Corporation of Wylie, Inc. as
amended. The DCW Board of Directors voted 4 - FOR and 0 - AGAINST
in favor of the motion.
ITEM NO. 2 - Discuss and Consider Approval of Minutes for the March 6, 1996 Special
Called Board of Directors Meeting of the Development Corporation of Wylie, Inc.
Members of the Board requested that the March 6, 1996 minutes be amended to reflect which
Board members made and seconded a motion.
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March 26, 1996
Page 2
MOTION: A motion was made by Irene Messenger and seconded by Kevin St. John
to approve the minutes for the March 6, 1996 Regular Board of Directors
Meeting of the Development Corporation of Wylie, Inc. as amended. The
DCW Board of Directors voted 4 - FOR and 0 - AGAINST in favor of the
motion.
ITEM NO. 3 - Discuss and Consider Creating Spending Authority for Development
Corporation of Wylie, Inc. Executive Director.
In an effort to facilitate the daily operations of the DCW,the Board discussed creating a specified
dollar amount for which the Executive Director would not be required to obtain two signatures
from Board members. The Board felt comfortable in allowing staff to execute the financial
obligations of the DCW up to $1,000.
MOTION: A motion was made by Irene Messenger and seconded by Kevin St. John
to create spending authority up to $1,000 for the Executive Director of the
DCW. The DCW Board of Directors voted 4 - FOR and 0 - AGAINST in
favor of the motion.
ITEM NO. 4 - Discuss and Consider Approval of Payment in the Amount of$95,449.50 to
East Texas Construction Co.,Inc. for Work Completed in Premier Business Park.
In discussions surrounding payment to East Texas Construction, staff informed the Board that
Bodin Concrete officials had contacted the DCW and expressed concern that East Texas was
forty-five days late in payment for concrete work performed. Being the second time a situation
like this has arisen, the Board was concerned that payment would be made by the DCW and
Bodin would not receive their funds, resulting in the potential filing of liens on improvements
made to Premier Business Park. To address this concern, staff suggested that a time and place be
arranged for Bodin, DCW and East Texas to meet and exchange payments and for the DCW to
receive a lien release.
MOTION: A motion was made by Kevin St. John and seconded by Irene Messenger
to approve payment in the amount of $95,449.50 to East Texas
Construction Co. for work completed in Premier Business Park based
upon the above stipulations. The DCW Board of Directors voted 4 - FOR
and 0 - AGAINST in favor of the motion.
ITEM NO. 5 - Discuss and Consider Approval of Payment in the Amount of $6,945.99 to
Professional Services Industries,Inc. for Work completed in Premier Business Park.
At the request of the City of Wylie and based on building code requirements, compression
testing on all concrete work was performed by Professional Services Industries, Inc. for said
services. The Board was concerned that the DCW had not been advised that this work was being
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March 26, 1996
Page 3
contracted for and that the provided invoices may include work performed on the Change Order
initiated by the City of Wylie. The Board advised staff to further investigate these concerns.
MOTION: A motion was made by Marvin Fuller and seconded by Kevin St. John to
table this item until staff could further research this issue. The DCW
Board of Directors voted 4 - FOR and 0 - AGAINST in favor of the
motion.
ITEM NO. 6 - Discuss and Consider Issues Surrounding the Financial Management of the
Development Corporation of Wylie,Inc.
Citing a recommendation by the firm which prepares the financial audit for the City of Wylie,
staff proposed allowing the City of Wylie Finance Department to perform all financial activities
for the DCW. Under this proposal, the DCW will be utilizing the professional accounting staff
and accounting processes in place at the City of Wylie. In doing so, the DCW will place its
operating account, currently held at Provident Bank, in American National Bank to be combined
with the City of Wylie operating account. Staff assured the Board that this arrangement would
be purely for convenience and would not hinder the ability of the DCW to make independent
financial decisions. In addition, the check requests made to the City of Wylie Finance
Department will provide an added layer of protection from inappropriately using DCW funds due
to the request approval process. Staff informed the Board that this action would not effect the
DCW Money Market Account currently held at American National Bank. These funds may
remain at American National, be moved to Provident, or be combined with the City of Wylie
funds in Texpool. The Board requested that staff perform further research on an investment
policy and bring it to the Board as an action item at a future meeting.
MOTION: A motion was made by Irene Messenger and seconded by Kevin St. John
to authorize the Executive Director of the DCW to implement an
agreement with the City of Wylie and City of Wylie Finance Department
to manage the operating account of the DCW. The DCW Board of
Directors voted 4 - FOR and 0 - AGAINST in favor of the motion. Board
Member Fuller abstained from the vote due to his affiliation with
American National Bank.
ITEM NO. 7 -Discuss and Consider Participating in the Wylie Independent School District
Brick Program.
Staff proposed to the DCW Board of Directors that the DCW participate in the Wylie
Independent School District Brick Program. A $50 - $200 donation would provide the DCW
with a commemorative brick to be placed at the entryway of the new high school.
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March 26, 1996
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MOTION: A motion was made by Kevin St. John and seconded by Marvin Fuller to
participate in the Wylie Independent School District Brick Program in the
amount of $200. The DCW Board of Directors voted 3 - FOR and 1 -
AGAINST in favor of the motion. Board Member Messenger voted
against the motion.
ITEM NO. 8 - Discuss and Consider Issues Surrounding the Relocation of Project Alpha to
Wylie.
The DCW Board of Directors discussed many positive and negative aspects of the proposed
incentives agreement between the DCW and Project Alpha officials. Although requested, Project
Alpha officials have not provided a personal financial statement from Brad and Gayle Jacoby.
Being that any incentive offered is proposed to be secured by a personal guaranty, Board
members did not feel comfortable voting on this item prior to receiving this information.
MOTION: A motion was made by Kevin St. John and seconded by Irene Messenger
to table this item until the requested information was received from Project
Alpha officials. The DCW Board of Directors voted 4 - FOR and 0 -
AGAINST in favor of this motion.
ITEM NO. 9 - Authorize John Yeager to Execute a Letter of Intent Between Project Alpha
Officials and the Development Corporation of Wylie, Inc.
MOTION: A motion was made by Kevin St. John and seconded by Irene Messenger
to table this item until the requested information was received from Project
Alpha officials. The DCW Board of Directors voted 4 - FOR and 0 -
AGAINST in favor of this motion.
ITEM NO. 10 - Discuss and Consider the Relationship Between the Development
Corporation of Wylie, Inc. and the Wylie Chamber of Commerce in the Lease of 108 West
Marble.
Staff informed the DCW Board of Directors that the Wylie Chamber of Commerce pays 100% of
the rent and utility bills for office space at 108 W. Marble, offices which the DCW currently
shares with the Chamber of Commerce. Staff proposed that the DCW split all costs associated
with the lease of office space at 108 W. Marble with the Wylie Chamber of Commerce.
MOTION: A motion was made by Irene Messenger and seconded by Kevin St. John
to split all costs associated with the lease of office space at 108 W. Marble.
The DCW Board of Directors voted 4 - FOR and 0 - Against in favor of
the motion.
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March 26, 1996
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ITEM NO. 11 - Report on the Financial Status of the Development Corporation of Wylie,
Inc.
The Board requested that this item be brought to the Board for approval at the next meeting of
the DCW Board of Directors and not simply and information item.
MOTION: A motion was made by Marvin Fuller and seconded by Kevin St. John to
table this item until the next meeting of the DCW Board of Directors. The
DCW Board of Directors voted 4- FOR and 0 - AGAINST in favor of this
motion.
ITEM NO. 12 - Citizen Participation.
Being no citizens present,the Board proceeded to Item No. 13.
ITEM NO. 13 - Staff Reports.
Staff spoke briefly on several prospects the DCW is currently working with for possible
relocation. Staff informed the Board that participation by the County for improvements to CR
297 has been secured and that the paperwork is being processed for the DCW to be reimbursed
for $180,000. As well, the Board was pleased to learn that Savage Precision Fabrications has
hired four new employees and has plans to hire several up to eight more employees over the next
several months.
ITEM NO. 14 - Adjourn. There being no further business, the meeting was adjourned at 9:55
p.m.
Or Ye r, resident
Attest:
Samuel D.R. Satterwhite, Director