Loading...
05-15-2008 (WEDC) Minutes Minutes Wylie Economic Development Corporation Board of Directors Meeting Thursday, May 15, 2008-6:00 M. Inwood National Bank- Conference Room 200 South Highway 7 -Wylie,Texas CALL TO ORDER Announce the presence ofa Quorum President Fuller called the meeting to order at 6:02 a.m. Board Members present were: John Yeager, Mitch Herzog. Board Member Seely arrived at 6:22 am. Staff present was Executive Director Sam Satterwhite and Administrative Assistant Gerry Harris. Ex- f ci Board Member Mindy Manson, Mayor-Elect Eric Hogue, and City Councilman David Goss were present. CITIZEN PARTICIPATION - --- There being no citizen participation, President Fuller proceeded to Action Items. ACTION ITEMS ITEM NO. 1 - Consider and Act Upon Approval of the April 24, 2008 Minutes of the WEDC Board of Directors Meeting. MOTION: A motion was made by Mitch Herzog and seconded by John Yeager to approve the April 24, 2008 Minutes of the WEDC Board of Directors Meeting. The WEDC Board voted 4 - FOR and 0 -AGAINST in favor of the motion. ITEM NO. 2 - Consider and Act Upon Approval of the April 2008 WEDC Treasurer's Report. MOTION: A motion was made by John. Yeager and seconded by Merrill Young to approve the April 2008 WEDC Treasurer's Report. The WEDC Board voted 4-FOR and 0-AGAINST in favor of the motion. ITEM No. 3 - Consider and Act Upon the Reappointment of a WEDC Board Member for a New Three-Year Term. Staff reported that in 2009, terms will expire for three WEDC Board Members. WEDC By- Laws however were designed in a manner that in any given year, a maximum of only two positions would open for appointment. According to WEDC By-Laws, the original configuration of Board Member terms was: two members appointed for an initial one year term, WEDC—Minutes May 15, 2008 Page 2 of 4 two members for an initial two year term, and one member for an initial three year term. Following expiration of the initial term, all future terms would be for three years. As identified previously, the intention of this configuration was to stagger terms and prevent the potential turnover of more than two members in a given year. Staff continued that in 1999, the Council unexplainably appointed two members to a two year term. This realignment of terms has resulted in no Board seats open for appointment in 2008 and three seats in 2009. In order to correct this error, the City Secretary suggested that one of the three Board members whose term expires in 2009 (Merrill Young, John Yeager, or Chris Seely) voluntarily request that their seat be considered for re-appointment to a new three year term to expire in 2011. The WEDC Board would then have two terms expiring in 2009, two terms expiring in 2010, and the term being considered expiring in 2011. The Board discussed recommending to the City Council that Councilman Merrill Young's seat be considered for appointment to a new three year term. Staff pointed out that while the By- Laws do not call for a member of the City Council to be a voting member of the Board, it has been an informal practice for the past fifteen years for an individual from Council to occupy a seat on the WEDC. MOTION: A motion was made by Mitch Herzog and seconded by John Yeager to recommend to the Wylie City Council that the Board seat occupied by Councilman Merrill Young be considered for a new three year term beginning in 2008 and expiring in 2011. The WEDC Board voted 4—FOR and 0—AGAINST in favor of the motion. ITEM NO. —Staff Update: Review Staff Activities and Ongoing WEDC Projects. ICSC: Staff continued to prepare for the International Council of Shopping Center Conference to be held May 1 — 21, 2008. An example of marketing materials to be utilized in Las Vegas was distributed at the Board meeting. In place of outgoing Mayor John Mondy, Mayor elect Eric Hogue will attend in his place. Meetings are scheduled with Target, Kohl's, Direct Development, Regency Centers, Hunt Properties, Burger King, The Buxton Group, Grubb & Ellis, Expedition Capital Partners, and The Retail Connection. City of Wylie Building Official: Staff updated the Board on its participation in a panel to interview candidates for the City of Wylie Building Official. After completing the initial interviews, the City Manager will be evaluating the recommendation of the panel and hiring an individual to fill the vacant position. Staff had no recommendations for this item. EXECUTIVE SESSION The WEDC Board of Directors convened into Executive Session at 6:29 a.m. WEDC—Minutes May 15, 2008 Page 3 of I. Consider and Act Upon Issues Surrounding a Performance Agreement Between the WEDC and Nicom Construction Company as Authorized in Section 551.087 (Economic Development Negotiations) of the Local Government Code, Vernon's Texas Code Annotated(Open Meetings Act). IL Consider and Act Upon Issues Surrounding a Performance ance Agreement and Real Estate Sales Contract Between Gardner Regency, LLC and the WEDC as Authorized in Section 551.087 (Economic Development Negotiations) of the Local Government Code, Vernon's Texas Code Annotated (Open Meetings Act). III. Consider and Act Upon Issues Surrounding the Performance Agreement Between Direct Development and the WEDC as Authorized in Section 551.087 (Economic Development Negotiations) of the Local Government Code, Vernon's Texas Code Annotated (Open Meetings Act). RECONVENE INTO OPEN MEETING The WEDC Board of Directors reconvened into open session at 7:1 a.m. Actions taken from Executive Session: I. Staff reviewed with the Board that in August 2007, I icon Construction approached the WEDC with a request for assistance in the redevelopment of approximately 3.9 acres within Regency Business Park. The specific request was to assist with demolition costs of several metal structures and associated concrete/asphalt parking areas. Staff confirmed demolition costs in excess of$20,000. At that time, staff encouraged Nicom to submit a request for assistance based upon the dramatic impact their redevelopment efforts would have on the Regency area. A concept site plan was submitted for Board review. As identified on the site plan, Lot#6 is currently under construction and should have a certificate of occupancy within 30 days. Staff initially received conflicting direction from the Board with staff requesting the Board's final consideration of the issue. Staff recommended that the WEDC Board participate in the demolition costs associated with the redevelopment of Regency-Steel Business Campus. Staff further recommended that upon issuance of a certificate of occupancy by the City of Wylie for an 11,345 square foot light industrial facility located on Lot #6 of the Regency-Steel Business Campus, the WEDC fund the reimbursement of demolition costs up to $10,000. MOTION: A motion was made by Mitch Herzog and seconded by Chris Seely authorizing the WEDC Executive Director to enter into a Performance Agreement with Nicom Construction for the reimbursement of demolition costs in an amount not to exceed $10,000. The WEDC Board voted 4 — FOR and 0 —AGAINST in favor of the motion. WEDC—Minutes May 15, 2008 Page 4 of 4 II For Board review, staff presented the executed Letter of Intent, Real Estate Sales Contract, and Performance Agreement between the WEDC and Savage Precision Fabrication, Inc. Negotiations over the last forty-five days have resulted in an inability to agree on terms of the mutual access easement. Staff recommended that shared use of the easement be abandoned. With that abandonment, a first right of refusal afforded to Savage for the property to the east will be withdrawn. Staff recommended that the WEDC Board of Directors authorize the WEDC Executive Director to execute a Real Estate Sales Contract between the WEDC and Gardner Regency, LLC, further authorizing the WEDC President to execute a Performance Agreement between the WEDC and Gardner Regency, LLC in addition to all documentation necessary to effectuate the sale of property contemplated within the Real Estate Sales Contract. MOTION: A motion was made by John Yeager and seconded by Merrill Young to authorize the Executive Director to execute a Real Estate Sales Contract between WEDC and Gardner Regency, LLC and to authorize the WEDC President to execute a Performance Agreement between the WEDC and Gardner Regency, LLC, in addition to all documentation necessary to effectuate the sale of property contemplated within the Real Estate Sales Contract. The WEDC Board voted 5 — FOR and 0 — AGAINST in favor of the motion. No further action was taken as a result of discussions held in Executive Session. ADJOURNMENT With no further business, President Marvin Fuller adjourned the WEDC Board meeting at 7:15 a.m. 14f dhliqh Marvin Fuller, President ATTEST: Samuel D.R. Satterwhite Executive Director