08-28-2002 (WEDC) Minutes Minutes
WYLIE ECONOMIC DEVELOPMENT CORPORATION
August 28,2002
•
Board Members Present:
Gary Bowland
Marvin Fuller
Kevin St. John
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 Wylie Economic Development Corporation
(WEDC) met in Regular Session on August 28, 2002 in the Conference Room of Woodbridge
Golf Club located at 7400 Country Club Drive,Wylie, Texas.
The meeting was called to order by President John Yeager at 7:13 a.m.
ITEM NO. 1 — Consider and Act Upon Approval of Minutes for the July 30, 2002, Regular
Board of Directors Meeting of the Wylie Economic Development Corporation.
MOTION: A motion was made by Marvin Fuller and seconded by Merrill Young
approving the minutes for the July 30, 2002, Regular Board of Directors
Meeting of the Wylie Economic Development Corporation. The WEDC
Board of Directors voted 5 — FOR and 0 — AGAINST in favor of the
motion.
ITEM NO. 2 — Consider and Act Upon Approval of the July, 2002 Treasurer's Report for
the Wylie Economic Development Corporation.
MOTION: A motion was made by Kevin St. John and seconded by Gary Bowland to
approve the July, 2002 Treasurer's Report for the Wylie Economic
Development Corporation. The WEDC Board of Directors voted 5 —FOR
and 0—AGAINST in favor of the motion.
ITEM NO. 3 — Discuss and Act Upon Issues Surrounding the WEDC FY 2002 — 2003
Budget.
Having made the requested budget changes from the July 30, 2002 WEDC Board Meeting, staff
summarized the proposed budget. Again, the WEDC budget includes baseline fixed expenses
with the balance earmarked for incentives. Of projected sales tax receipts and fund balance
WEDC—Minutes
August 28, 2002
Page 2
equaling $683,220, $156,000 is reserved for previously committed incentives and $238,000 to
fund future projects.
Board Member Bowland requested that the proposed budget be amended to reflect $1,000 being
dedicated to `Computer Hardware and Software' while reducing `Future Incentives' by $1,000.
The WEDC Board agreed to this amendment.
MOTION: A motion was made by Marvin Fuller and seconded by Merrill Young to
approve the WEDC FY 2002 — 2003 Budget as amended. The WEDC
Board of Directors voted 5 — FOR and 0 — AGAINST in favor of the
motion.
ITEM NO. 4 — Discuss and Act Upon Issues Surrounding Negotiations with Extruders
Division of Atrium Companies,Inc. for Site Work at 404 S. Highway 78.
Staff indicated to the Board that limits of the Extruders excavation had been reached and that
staff was awaiting a final report from Pond, Robinson. Staff had no recommendation or request
for action by the Board.
ITEM NO. 5—Citizen Participation.
There being no citizen participation, President Yeager proceeded to Item No. 6.
ITEM NO. 6—Adjourn.
There being no further business,the meeting was adjourned at 8:20 a.m.
John Yfrfr
ident
Attest:
Samuel D.R. Satterwhite
Executive Director