08-06-1996 (WEDC) Minutes Minutes
THE DEVELOPMENT CORPORATION OF WYLIE,INC.
Tuesday,August 6, 1996
Board Members Present:
Marvin Fuller
Kevin St. John
J.C. Worley
John Yeager
Merrill Young
Staff Present:
Samuel Satterwhite, Executive Director
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, August 6, 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 4:10 p.m.
ITEM NO. 1 - Discuss and Consider Approval of Funding the Wylie Chamber of
Commerce Economic Development Budget in the Amount of$5,000.00
Staff informed the Board that under the proposed FY 1996-97 budget, the DCW will not be
able to fund a promotional brochure which will cost±$5,000. Funding will not be available
due to a legislative mandate restricting marketing expenses to 10% of revenue. Staff
proposed that the DCW contract with the Wylie Chamber of Commerce to prepare the
brochure, thus funding the item in FY 1995-96. The Board did not believe it to be in the
best interest of the Corporation to fund the brochure in this manner and instructed staff to
fund the item during the current fiscal year. Although staff did not believe it to be the case,
the Board also instructed staff to confirm that this marketing expenditure will not create a
spending level in excess of 10%.
MOTION: A motion was made by Kevin St. John and seconded by Merrill
Young to fund the proposed promotional brochure during FY 1995-
96. The DCW Board of Directors voted 5 - FOR and 0 - AGAINST
in favor of the motion.
ITEM NO. 2 - ITEM NO. 2 - Discuss and Consider Approval of the DCW Fiscal Year
1996-1997 Annual Budget.
Prior to presenting a line-by-line analysis, staff informed the Board that the proposed budget
emphasizes marketing more than any past budgets. There is a perception throughout the
Dallas brokerage market that Wylie is outside the metroplex and is not capable of competing
for new economic development projects. It is staffs opinion that intensive marketing via
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August 6, 1996
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the Dallas Business Journal (DBJ) and Inside Collin County Business (ICCB) will begin to
change the current perception. Staff also emphasized that this budget is a guideline for
programs to be carried out during the upcoming fiscal year. As needs arise due to prospect
activity, the DCW will need to be prepared to change direction.
Staff estimated revenues of $282,130 and fixed expenses of $144,179. The remaining
$137,951 will be allocated to an incentive pool which can be used for infrastructure
improvements, moving expenses, direct grants, employee training assistance and landscape
participation. In line with an aggressive marketing approach, staff proposed expenditures of
$27, 840 for design services for DBJ and ICCB ads, cost of placing said ads, and the annual
Industrial Luncheon. Ads to be placed in the DBJ include a quarterly presence in the
Commercial Real Estate Special Publication and one-time ads in the Corporate Expansion &
Relocation Guide and Best Real Estate Deals Special Publication. The DCW will also place
full-page ads in the ICCB on a semi-annual basis. Marketing expenditures represent 9.9%
of revenue which comply with the 10%maximum, as determined by the Texas Legislature.
Staff had budgeted for a mobile telephone and personal computer, but the Board believed
that these items are the cost of doing business in today's environment and authorized staff to
purchase these items this fiscal year.
MOTION: A motion was made by Marvin Fuller and seconded by J. C. Worley
to approve the FY 1996-97 budget as amended. The DCW Board of
Directors voted 5 - FOR and 0 - AGAINST in favor of the motion.
ITEM NO. 3 - Discuss Relocation of Project Knickerbocker to the City of Wylie.
Staff was pleased to inform the Board of Directors that out of sixteen cities, the City of
Wylie is being considered, along with three other cities, for the relocation of a Chicago
company which has proposed constructing a 65,000 square foot facility and employing 100
local residents within Premier Business Park. The Board congratulated staff and the site
relocation team for their efforts and encouraged an aggressive approach during upcoming
negotiations. Staff proposed a meeting during the week of August 12th to discuss the City
of Wylie and DCW incentive proposal.
ITEM NO. 4 - Discuss and Consider Design of Wylie Economic Development
Corporation Logo.
Staff presented the Board with several different logo designs for the soon to be Wylie
Economic Development Corporation. The Board made changes to the existing designs and
instructed staff to take the changes back to FG Designs for further development.
ITEM NO. 5 - Citizen Participation.
There being no citizens present, the Board proceeded to Item No. 6.
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August 6, 1996
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ITEM NO. 6 - Adjourn.
There being no further business, the meeting was adjourned at 6:20 p.m.
Jo eager, President
Attest:
Samuel D.R. Satterwhite, Director