04-06-2016 (WEDC) Agenda Packet NOTICE OF MEETING
Wylie EconomC io Re DevePoRloApT I o mentN
Special Meeting Agenda
April 6, 2016— 6:30 A.M.
WEDC Offices—Conference Room
250 South Highway 78 —Wylie, Texas
Marvin Fuller President
Mitch Herzog Vice President
John Yeager Secretary
Todd Wintters Treasurer
Demond Dawkins Board Member
Mayor Eric Hogue Ex-Officio Member
Mindy Manson,City Manager Ex-Officio Member
Samuel S atterwhite Executive Director
Jason Greiner Assistant Director
Angel Wygant Senior Assistant
In accordance with Section 551.042 of the Texas Government Code, this agenda has been posted at the Wylie
Municipal Complex, distributed to the appropriate news media, and posted on the City Website:
www.wylietexas.gov within the required time frame.
CALL TO ORDER
Announce the presence of a Quorum.
CITIZEN PARTICIPATION
Residents may address the WEDC Board regarding an item that is or is not listed on the agenda. Residents must
provide their name and address. The WEDC Board requests that comments be limited to three (3) minutes. In
addition, the WEDC Board is not allowed to converse, deliberate or take action on any matter presented during
citizen participation.
ACTION ITEMS
I. Consider and act upon approval of the March 18, 2015 Minutes of the Wylie Economic
Development Corporation (WEDC) Board of Directors Meeting.
II. Consider and act upon the purchase of abandoned right-of-way from the City of Wylie
consisting of 0.292 acre, or approximately 12,718 square feet, located near the intersection
of Birmingham Street and Industrial Court.
III. Consider and act upon issues surrounding a Performance Agreement between the WEDC
and FLM Development, LLC.
WEDC—Agenda
April 6, 2016
Page 2 of 2
EXECUTIVE SESSION
Recess into Closed Session in compliance with Section 551.001, et.seq. Texas Government Code,
to wit:
Section 551.072 (Real Estate) of the Local Government Code, Vernon's Texas Code Annotated
(Open Meetings Act). Consider the sale or acquisition of properties located near the intersection
of:
• Cooper Drive & State Highway 78
• Martinez & Alanis
• Commerce & F.M. 544
• Oak& Ballard
Section 551.087 (Economic Development) of the Local Government Code, Vernon's Texas
Code Annotated(Open Meetings Act).
• Project 2015-4a
• Project 2015-12a
• Project 2016-1a
• Project 2016-lb
RECONVENE INTO OPEN MEETING
ADJOURNMENT
CERTIFICATION
I certify that this Notice of Meeting was posted on this 1 sr day of April at 5:00 p.m. as required by law in accordance
with Section 551.042 of the Texas Government Code and that the appropriate news media was contacted. As a
courtesy, this agenda is also posted on the City of Wylie website: www.wylietexas.gov.
Carole Ehrlich,City Secretary Date Notice Removed
Minutes
Wylie Economic Development Corporation
Board of Directors Meeting
Friday, March 18, 2016—6:30 A.M.
WEDC Offices—Conference Room
250 South Highway 78—Wylie, Texas
CALL TO ORDER
Announce the presence of a Quorum
President Marvin Fuller called the meeting to order at 6:37 a.m. Board Members present were
Mitch Herzog and John Yeager.
Ex-officio members City Manager Mindy Manson and Mayor Eric Hogue were present.
WEDC staff present was Executive Director Sam Satterwhite, Assistant Director Jason Greiner
and Sr. Assistant Angel Wygant.
CITIZEN PARTICIPATION
Lynn Grimes was in attendance and informed the Board that RaceTrac continues to be No 1 for
6K stores with in-store sales exceeding $100,000 per month.
ACTION ITEMS
ITEM NO. 1 — Consider and act upon approval of the February 19, 2016 Minutes of the
Wylie Economic Development Corporation (WEDC) Board of Directors Meeting.
MOTION: A motion was made by Mitch Herzog and seconded by
John Yeager to approve the February 19, 2016 Minutes of the Wylie
Economic Development Corporation. The WEDC Board voted 3 —FOR and
0—AGAINST in favor of the motion.
ITEM NO. 2 — Consider and act upon approval of the February 2016 WEDC Treasurer's
Report.
MOTION: A motion was made by John Yeager and seconded by Mitch Herzog to
approve the February 2016 WEDC Treasurer's report. The WEDC Board
voted 3 —FOR and 0—AGAINST in favor of the motion.
ITEM NO.3— Consider and act upon a Real Estate Contract between the WEDC and First
Baptist Church of Wylie for the purchase of 0.198 acre located at 111 North Ballard Street,
Wylie, Texas.
Staff informed the Board that on 3-10-16 Lawyers Title accepted an executed contract between
the WEDC and FBC Wylie for the purchase of a vacant lot located at 111 North Ballard Street,
adjacent to Boyd Recording Studio.
WEDC—Minutes
March 18, 2016
Page 2 of 6
The purchase price equals $150,000 with the WEDC paying for a survey and 50% of the title
policy. Staff has hired W&M Environmental Consultants to perform a Phase I on the site which
will be completed within the next two weeks. The feasibility period expires on 5-6-16 with closing
set for 6-6-16.
Staff will provide an update on the Phase I Environmental Report at the April Board Meeting.
Staff recommended that the WEDC Board of Directors ratify the Real Estate Sales Contract
between the WEDC and First Baptist Church of Wylie for the purchase of 0.198 acre located at
111 North Ballard Street.
MOTION: A motion was made by Mitch Herzog and seconded by John Yeager to ratify
the Real Estate Sales Contract between the WEDC and First Baptist Church
of Wylie for the purchase of 0.198 acre located at 111 North Ballard Street.
The WEDC Board voted 3 —FOR and 0—AGAINST in favor of the motion.
ITEM NO. 4 - Consider and act upon issues surrounding the demolition of existing
improvements located on WEDC properties at 398-400 Highway 78 and 207-211 Industrial
Court.
Staff informed the Board that Exco and Mann Made have vacated buildings located at 398 and 400
S. State Highway 78. WEDC tenants in six buildings located on Industrial Court have been given
notice to vacate no later than May 31, 2016. As well, staff has already contracted for the removal
of all asbestos related material which will be completed on or about March 31, 2016.
Staff developed a Request for Proposal (RFP) for demolition of all properties and delivered the
same to Midwest Wrecking Company, Intercon Demolition, and Precision Demolition. The RFP
requested that the bids be separated into a Phase I(Highway 78 properties)and Phase II(Industrial
Court Properties) with Phase I beginning as early as April 4th and Phase II beginning on or about
July 1st. Also within Phase I, bidders were asked to identify demolition costs associated with the
Exco site and an additional 39' strip of land to the north. This separate figure was requested so as
to identify demolition costs to be included within ongoing negotiations.
The bids received were as follows:
Phase I Phase II Total
Midwest Wrecking $160,325 $89,975 $250,300
Intercon Demolition 141,117 95,300 236,417
Precision Demolition n/a n/a 255,678
As presented, Intercon Demolition was the low bidder at $236,417 with $141,117 for Phase I and
$74,758 attributed to Exco plus 39'.
WEDC—Minutes
March 18, 2016
Page 3 of 6
Staff commented that at a minimum the WEDC should take down the Exco building plus the 39'.
A discussion should also take place as to whether or not to take down the balance of the Mann
Made property at the same time.
Staff recommended that the WEDC Board of Directors authorize the Executive Director to enter
into a contract with Intercon Demolition for the removal of improvements located at 398—400 S.
Highway 78 and 207 — 211 Industrial Court and further advise staff on the timing of demolition
for properties within Phase I and Phase II.
The Board unanimously was in favor of taking down the Exco and Mann Made structures and
move forward with the Industrial Court properties on or about July 1, 2016.
MOTION: A motion was made by Mitch Herzog and seconded by John Yeager to
authorize the Executive Director to enter into a contract with Intercon
Demolition for $236,417 for the removal of improvements located at 398 —
400 S. Highway 78 and 207—211 Industrial Court. The WEDC Board voted
3 —FOR and 0—AGAINST in favor of the motion.
DISCUSSION ITEMS
ITEM NO. 5 - Staff report: review issues surrounding Performance Agreements between the
WEDC and: Woodbridge Crossing,Ascend Custom Extrusions, CSD Woodbridge,Exco Tooling
Solutions, All State Fire, BRE Program, 605 Commerce, 106 N. Birmingham, ICSC 2016, The
Retail
Coach, La Quinta Inn & Suites, sporting events, and regional housing starts.
Woocibrid Pe Crossing
Attached for the Board's review was the Sales Tax Reimbursement Report which identifies all
sales taxes received through February 2016 within Woodbridge Crossing for the City General
Fund, the WEDC, and the 4B. As a reminder, the City and WEDC reimbursed 85% of all sales
tax generated within Woodbridge Crossing through September 2013 with the reimbursement
percentage reduced to 65% thereafter. Due to the default under the Amended and Restated
Performance Agreement, Woodbridge Crossing is only eligible to receive up to $6 million in sales
tax reimbursement through September 2021 as opposed to the maximum reimbursement of$12
million originally contemplated.
$3,416,841.73 in reimbursement has been earned through February 2016 with net receipts of
$2,613,335.63 after reimbursements. As well, it is estimated that $3.5 mm has been paid in ad
valorem taxes to the City of Wylie (excluding the WISD).
As shown on the Sales Tax Reimbursement Report, $198,375.98 was generated in sales tax in
December 2015 versus$186,038.17 in December 2014. This increase represents a 6.6%gain over
2014 receipts.
WEDC—Minutes
March 18, 2016
Page 4 of 6
Ascend Performance Agreement
With the 2012 Performance Agreement completed, a second Performance Agreement executed in
December 2013 is the last commitment between the parties. Payment#3 of 4 is being considered
currently with the remaining Performance Obligations attached for your review.
CSD Woodbridge Performance Agreement
On July 15, 2013 a certificate of occupancy (CO) was issued for Kroger Marketplace. Beginning
October 1, 2013 and ending October 1, 2023, Clark Street Development is eligible to receive a V2
cent sales tax reimbursement from the WEDC(City of Wylie is not part of sales tax reimbursement
agreement). Quarterly payments will be made to Clark Street based upon the data provided by the
Comptroller. In addition to the $100,000 reimbursement incentive paid by the WEDC at CO,
Clark Street is eligible to receive cumulative incentives of $1,100,000 over the life of the
Agreement.
Along with a summary of the Performance Agreement, a Sales Tax Reimbursement Report was
included for the Board's review.
Exco Tooling Solutions
Exco has completed construction of its 30,000 square foot facility within Premier Business Park
and received a final Certificate of Occupancy. With the CO issued, Incentive Payment No. 1 was
funded in the amount of$87,000. An additional $80,000 will be funded over the next four years
in payments of$20,000 each.
All State Fire Equipment
All State Fire Equipment(ASFE)received their final Certificate of Occupancy(CO) on March 9th
and is fully moved into their new facility on Century Way. Staff will begin processing Incentive
Payment #1 in the amount of$20,000 following receipt of documentation supporting a cost of
$788,000. Assuming ASFE remains in compliance with the Performance Agreement, an
additional $40,000 will be paid over the next two years.
BRE Program
A license was acquired from Salesforce to start building the custom database. WEDC Contacts
will be inputted into the system with staff beginning to start mapping fields and importing data in
the next couple weeks. The BRE component of the Database is still under construction. The target
launch date of April 30, 2016 is still in place assuming Mr. Greiner continues to work overtime.
605 Commerce
Attached for the Board's review was a spreadsheet tracking all activities with W&M
Environmental for FY 2014-15 and FY 2015-16. W&M has prepared Phase I & II reports for
WEDC—Minutes
March 18, 2016
Page 5 of 6
Mann Made,K&M,Business Way,is processing the VCP application for the Commerce property,
and processing the Municipal Setting Designation through the City.
106 N. Birmingham
Staff had previously reported that Wylie Glass would be leasing 106 N. Birmingham. However,
Mr. Jones determined that it was in his best interest to find a more permanent home rather than
potentially having to move again if and when redevelopment of the Birmingham site takes place.
Staff is working with an alternate tenant and has hired an electrician to preform minor modification
required by the Building Department.
ICSC 2016
The International Council of Shopping Centers annual real estate conference(RECon)will be held
May 22 — 25, 2016. Tentatively scheduled to attend this event will be Mayor Hogue, Board
Members Winners,Yeager,and Fuller, along with a new attendee Planning Director Renae' 011ie.
While Ms. 011ie is already a valuable economic development asset at City Hall,exposure to a trade
show geared specifically toward commercial/retail development can only enhance our ability to
interact with commercial/retail developers.
The Retail Coach
There has been significant activity generated by The Retail Coach (TRC) over the last several
weeks beginning with updating our target restaurant list in February. TRC has also updated the
Wylie daytime population data at the request of a well-known dining establishment which has a
serious interest in Wylie. TRC along with WEDC staff has already spent significant effort in
developing a strategy for RECON in May and is refreshing all marketing materials highlighting
restaurant pad sites in Wylie.
La Quinta Inn &Suites
With a completion date set for August, underground utilities will be complete on or about March
25th and foundation poured by the end of March. Preselling of rooms begins in June with a VIP
opening one day prior to the official grand opening. Local officials and VIP guests will be
encouraged to stay overnight at the La Quinta prior to the grand opening so as to provide a soft
opening and training for staff.
Sporting Events
Attached for the Board's review was the Promotional Activities Report which specifically details
attendees at Dallas Mavericks games.
Regional Housing Starts
Four homes were permitted in Wylie for February 2016. Sachse, Lavon, and Murphy permitted a
combined forty homes over the same period.
WEDC—Minutes
March 18, 2016
Page 6 of 6
No action is requested by staff for this item.
EXECUTIVE SESSION
Recessed into Closed Session at 7.•30 a.m. in compliance with Section 551.001, et.seq. Texas
Government Code, to wit:
Section 551.072 (Real Estate) of the Local Government Code, Vernon's Texas Code Annotated
(Open Meetings Act). Consider the sale or acquisition of properties located near the intersection
of:
• Cooper Drive & State Highway
• Martinez &Alanis
• Commerce &F.M. 544
Section 551.087 (Economic Development) of the Local Government Code,Vernon's Texas Code
Annotated (Open Meetings Act).
• Project 2015-12a
• Project 2016-la
• Project 2016-lb
RECONVENE INTO OPEN MEETING
The WEDC Board of Directors reconvened into open session at 8:19 a.m. and took no action.
ADJOURNMENT
With no further business, President Fuller adjourned the WEDC Board meeting at 8:19 a.m.
Marvin Fuller,President
ATTEST:
Samuel Satterwhite, Director
Wylie Economic Development Corporation
MEMORANDUM
TO: WEDC Board of Directors
FROM: Sam Satterwhite, Executive Directo .
SUBJECT: Purchase of R.O.W.
DATE: April 4, 21016
Issue
Consider and act upon the purchase of abandoned right-of-way from the City of Wylie consisting
of 0.292 acre, or approximately 12,718 square feet, located near the intersection of Birmingham
Street and Industrial Court.
Analysis
On March 22, 2016 the Wylie City Council met in Regular Session and approved an Ordinance
abandoning a portion of Industrial Court being a 50' public right-of-way, and to waive the
requirement for an appraisal within the Railroad Industrial Park Addition, surrounding Lots 4-8,
consisting of 0.292 acre or approximately 12,718 square feet. In proposing a waiver for a
certified appraisal of the subject property, WEDC staff documented the average square foot value
of all surrounding and adjacent properties, as appraised by the Collin County.Central Appraisal
District, being equivalent to $4.14 per square foot and proposed the same for the sale of the right-
of-way to the WEDC.
Having acquired all properties surrounding the subject right-of-way (Lots 4-8), the WEDC will
ultimately redevelop Industrial Court creating three pad sites to be marketed for
retail/commercial uses. As attached, a survey of the subject property was provided to the City of
Wylie along with a concept site plan depicting future development plans. The WEDC will have
six (6) months to replat the property at which time an access easement will be created to provide
ingress/egress to State Highway 78.
Staff Recommendation
Staff recommends that the WEDC Board of Directors authorize President Fuller to execute all
documentation necessary to purchase 10.292 acre (12,718 square feet) from the City of Wylie in
the amount of$52,652.52.
Attachment,
Survey
Concept Site Plan
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ANNA, TEXAS 75409
072 ss- SANITARY SEWER COLWJ COUNTY. Tile 924—�800
FIRM NO, 10069500 WATER - HATER LAVE
SCALE 1" = 40' DATE: NOVEMBER 30, 2015 JOB No. 2015-147
LIMIT A
BEING situated in the S.B. Shelby Survey, Abstract No. 820 City
of Wylie, Collin county, Texas and being part of Industrial Court as
created by at a the Railroad Industrial Park Addition, an Addition to
the City of Wylie, Collin County, Texas, according to the plot thereof
recorded in Cabinet C, Page 748 of the Plat Records of Collin County,
Texas and being more particularly described by metes and bounds as
follows;
BEGINNING a "X" cut set for corner at the intersection of the
east Right Of Way line of Industrial Court (50' ROW) with the east
ROW line of the cul—de—sac at the south end of Industrial Court, said
X" cut being in a non—tangent curve to the right
THENCE along said curve to the right through a central angle
of 299'59'38, a radius of 50.00', and an arc length of 261.79', with
a chord bearing of N 49'40'00" W, and a chord length of 50.00' to a
X" cut set for corner at the intersection of the cul—de—sac and the
west ROW line of Industrial Court. said "X" cut being at the beginning
of a non—tangent curve to the left;
THENCE with a reverse curve to the left following the west
ROW line of Industrial Court through a central angle of 03'43'11", a
radius of 1573.68'. and an arc length of 102.17'. with a chord
bearing of N 37'41'07" E, and a chord length of 102.15' to a capped
1/2" iron rod set for corner at the southeast corner of Lot 8;
THENCE S 48'51'09" E a distance of 50.00' to a "X" cut set
for corner in the east ROW line of Industrial Court, said "X" cut being
at the northeast corner of Lot 4, said "X" cut being in a non—tangent
curve to the right;
THENCE along said curve to the right following the east ROW
line of Industrial Court through a central angle of 03'34'47. a radius
of 1623.68'. and on arc length of 104.44', with a chord bearing of S
37'46'46" W, and a chord length of 101.43' to the POINT OF
BEGINNING and containing 12.718 square feet or 0.292 acres of land.
The Bases of bearings is the west line of Lot 6 (N 41'06'33"
E) as shown on the Railroad Industrial Park Addition Plat recorded in
Cabinet C. Page 748 of the Plat Records of Collin county, Texas.
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FIRM NO. 10069500
SCALE 1' = 40' DATE: NOVEMBER 30, 2015 JOB No. 2015-147
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Wylie Economic Development Corporation
MEMORANDUM
TO: WEDC Board of Directors
FROM: Sam Satterwhite, Executive Director
SUBJECT: Performance Agreement
DATE: April 4, 2016
Issue
Consider and act upon issues surrounding a Performance Agreement between the WEDC and
FLM Development, LLC.
Analysis
The WEDC is under contract to sell 1.433 acres to McClure Partners, LLC. With the WEDC
tract located near the southeast corner of Regency and F.M. 544, McClure Partners is also
purchasing an adjacent 0.69-acre tract from the Jacobs family and a 1.66-acre tract from Mr.
Scott Goldenberg. The combined 3.783-acre tract has been approved for platting creating 3 pad
sites to be marketed for retail/commercial uses (as attached).
The development arm of McClure Partners (FLM Development, LLC) will be making
infrastructure improvements to the property in the form of water & sewer to serve the site and
median improvements providing direct access from west bound F.M. 544 and access from east
bound F.M. 544 for future development to the north. Offsite drainage improvements will also be
installed on the west side of Regency to accommodate the increased flow.
As per the attached Performance Agreement,the WEDC is providing infrastructure assistance for
median improvements and storm sewer improvements within Regency Drive. In order to qualify
for financial assistance, FLM must (a) close on the WEDC tract simultaneously with the Jacobs
and Goldenberg tracts, (b) file a plat with Collin County within 5 days of closing combining the
WEDC, Jacobs, and Goldenberg tracts, (c) secure a permit from TxDOT for driveway and
median improvements fronting the subject tracts prior to closing, (d) remove all improvements
on the WEDC tract consisting of a 2,800 square foot building and fence no later than 8-30-16, (e)
remove an existing billboard located on the Jacobs tract no later than 8-30-16, (f) remove all
improvements located on the Goldenberg tract consisting of a 3,375 square foot building no later
than 8-30-16, (g) complete median improvements on F.M. 544 no later than 11-1-16, and (h)
compete drainage improvements within Regency Drive no later than 11-1-16.
After complying with all of the above performance requirements, FLM will qualify for
reimbursement of infrastructure costs associated with median improvements equal to 50% of
design and construction up to a maximum $37,500, and reimbursement of infrastructure costs
WEDC—Performance Agreement
April 4,2016
Page 2 of 2
associated with drainage improvements to Regency Drive equal to 50% of construction costs up
to a maximum of$39,173.
Staff Recommendation
Staff recommends that the WEDC Board of Directors approve a Performance Agreement
between the WEDC and FLM Development, LLC.
Attachment
Driveway Exhibit
Drainage Improvements—Regency
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loll i G 1 1 11/19/15
in i NO. DATE APP„.
PRELIMINARY VASQUEZ ENGINEERING, L.L.C.
1919 S.Shiloh Road
McCLURE
DRAINAGE IMPROVEMENTS Suite 440,LB 44
PARTNERS, LLC Garland,Texas75042
REGENCY ROAD WYLIE, TEXAS Ph:972-278-2948
TX Registration#F-12266
PERFORMANCE AGREEMENT
Between
WYLIE ECONOMIC DEVELOPMENT CORPORATION
And
FLM DEVELOPMENT,LLC
This Performance Agreement (this "Agreement") is made and entered into by and between
the Wylie Economic Development Corporation (the "WEDC"), a Texas corporation organized
and existing under the Development Corporation Act of 1979, as amended from time to time (the
"Act"), and FLM Development,LLC a Texas Limited Liability Corporation (the "Company").
RECITALS
WHEREAS, the Company is desirous of acquiring a 1.433-acre tract from the WEDC and
combining the same with adjoining tracts to redevelop and repurpose a property with existing light
industrial uses, marketing the same for new retail/commercial uses, and further making access and
utility improvements to the property required for a well-ordered master-planned site (the "Project");
and
WHEREAS, the Company has requested that the WEDC provide economic assistance to
offset the cost of infrastructure improvements to the Project in the City of Wylie, Texas; and
WHEREAS, the construction of the Project in the City of Wylie, Texas will ultimately
create further investment and"primary jobs", as that term is defined in the Act; and
WHEREAS, the WEDC has determined that it is in the best interest of the public and the
City and promotes the purposes authorized by the voters of the City of Wylie for which the WEDC
was established to encourage the development and use of business properties within the City; and
WHEREAS, for the public purpose of promoting economic development and diversity,
increasing employment, reducing unemployment and underemployment, expanding commerce and
stimulating business and commercial activities in the State of Texas, and the City of Wylie, the
WEDC desires to offer economic assistance to Company as more particularly described in this
Agreement.
NOW, THEREFORE, for and in consideration of the promises, covenants and agreements
set forth herein, the receipt and sufficiency of which are hereby acknowledged, the WEDC and
Company agree as follows:
I. Economic Assistance. Subject to the terms of this Agreement, the WEDC will provide the
Company economic assistance in an amount up to, but not to exceed Seventy-Six Thousand
Six Hundred Seventy-Three Dollars ($76,673) (the "Economic Development Incentives").
The Economic Incentives will be paid according to the criteria set forth herein with the
WEDC's obligation to pay the Economic Development Incentives terminating on November
1, 2016.
Upon meeting the qualifications and requirements (the "Performance Requirements"), the
Company shall be entitled to the following Economic Development Incentives:
Page 1 of 5
C:\Users\Sam Satterwhite\Documents\Word Files\Ferrell\Performacne Agreement.doc
Economic Development Incentive Payment Schedule:
Expected Cost of Max. WEDC Total WEDC Eligibility
Year Incentive Improvements Incentive Incentive Expiration
2016 No. 1 $153,346 $76,673 $76,673 11-1-2016
II. Performance Requirements for Economic Development Incentive.
a. Incentive No. 1: An Economic Development Incentive of Seventy-Six Thousand Six
Hundred Seventy-Three Dollars ($76,673) will be paid to Company upon completion of the
following Performance Requirements for Incentive No. 1:
1) Receipt of documentation by WEDC supporting the purchase of 0.69 acre
from the Jacobs Family Trust and 1.66 acres from Mr. Scott Goldenberg
simultaneously with the purchase of 1.433 acres from the WEDC; and
2) File a plat with Collin County within five (5) days of closing on WEDC
property combining the WEDC tract (1.433 acres), the Jacobs tract (0.69
acre), and the Goldenberg tract(1.66 acres); and
3) Receipt of documentation by WEDC evidencing an approved permit from
TxDOT for improvements associated with a new driveway and median
improvements as depicted on Exhibit A; and
4) Remove all improvements located on the WEDC 1.433 acres, more
specifically a 2,800 square foot metal structure, foundation associated with
the same, and a fence surrounding the structure not later than August 30,
2016; and
5) Remove all improvements located on property being purchased from the
Jacobs Family Trust (0.69 acre), more specifically a two-sided billboard, not
later than August 30, 2016; and
6) Remove all improvements located on property being purchased from Mr.
Scott Goldenberg (1.66 acres), more specifically a 3,375 square foot metal
structure and foundation associated with the same, not later than August 30,
2016; and
7) Complete median improvements as depicted within Exhibit A not later than
November 1, 2016 as evidenced by acceptance of said improvements by
TxDOT and/or the City of Wylie; and
a) WEDC will reimburse 50% of actual design and construction costs
associated with median improvements up to an amount not to exceed
$37,500.
Page 2 of 5
C:\Users\Sam Satterwhite\Documents\Word Files\Ferrell\Performacne Agreement.doc
8) Complete Drainage Improvements as depicted within Exhibit B not later than
November 1, 2016 as evidenced by acceptance of said improvements by the
City of Wylie.
a) WEDC will reimburse 50% of actual construction costs associated with
drainage improvements up to an amount not to exceed $39,173.
9) Eligibility expiration for the Company to qualify for this Incentive No. 1 is
November 1, 2016.
III. WEDC Payment of Reimbursement Incentives. Subject to the terms of this Agreement,
the WEDC shall pay the Reimbursement Incentives within thirty (30) days of receipt of the
required documentation from the Company, subject to verification by the WEDC that the
Performance Requirements have been met or exceeded by the Company.
IV. Non-Attainment of Performance Requirements. In the event that the Company does not
meet or exceed a Performance Requirement as specified in Section II, the WEDC Economic
Development Incentive will be voided in advance of payment at the sole discretion of the
WEDC. The Company will not be eligible to receive an Economic Development Incentive
payment if documentation supporting Performance Requirements are not received by
WEDC prior to the Eligibility Expiration Date.
V. Economic Assistance Termination. The Agreement may be terminated by mutual
agreement of the parties or by either party, upon the failure of the other party to fulfill an
obligation as set forth in Section II above. Regardless of the Company's level of attainment
of the Performance Requirements set forth in Section II above, the WEDC's obligation to
pay the Reimbursement Incentive will expire in full on November 1, 2016.
VI. Employee Hiring, Materials and Supplies Purchase. Although not an event of default or
a condition to any advance in the Agreement, WEDC requests that the Company satisfies its
need for all construction contractors from Wylie residents and purchase all materials,
supplies and services necessary to affect the Project and subsequent occupancy of the
Facility from Wylie merchants and businesses.
VII. Community Involvement. Although not an event of default or condition of any advance
hereunder, the Company agrees to actively participate in community and charitable
organizations and/or activities, the purpose of which are to improve the quality of life in the
City of Wylie, Texas, and to actively encourage its employees to be involved in such
organizations and/or activities.
VIII. Verification and Compliance. The Company will allow the WEDC to audit necessary
Company's records, documents, agreements and other instruments in furtherance of the
following purposes: (i) to ensure the Company's compliance with the affirmative covenants
set forth in this Agreement; (ii) to determine the existence of an Event of Default under the
terms of this Agreement; (iii) to ensure compliance with any other terms and conditions set
forth herein or any related documents. Company will provide reports certifying the status of
compliance, jobs retained, new investments and any other relevant information until the
termination of this Agreement.
Page 3 of 5
C:\Users\Sam Satterwhite\Documents\Word Files\Ferrell\Performacne Agreement.doc
IX. Cessation of Economic Assistance. Notwithstanding anything herein to the contrary,
WEDC shall have no obligation to disburse WEDC Economic Development Incentives if
the Company becomes insolvent, files a petition in bankruptcy or similar proceedings, or is
adjudged bankrupt, or is delinquent on any property tax payments or an Event of Default
under the terms of this Agreement occurs.
X. Non-Payment of Economic Assistance. The following will constitute an Event of Default
and any incentive payments shall not be funded in an Event of Default: the Company
becomes insolvent, makes any materially false statements to the City and/or the WEDC,
fails to pay ad valorem taxes, files suit against the City and/or the WEDC.
XI. Miscellaneous.
a. This Agreement shall inure to the benefit of the parties hereto and shall not be assignable
by Company without the prior written consent of the WEDC, which consent may be
withheld by the WEDC in its sole and absolute discretion.
b. This Agreement shall be construed according to the laws of the State of Texas and is
subject to all provisions of Vernon's Ann. Civ. St. Art. 5190.6, which are incorporated
herein by reference for all purposes. In the event any provision of the Agreement is in
conflict with article 5190.6, article 5190.6 shall prevail.
c. This Agreement contains the entire agreement of the parties regarding the within subject
matter and may only be amended or revoked by the written agreement executed by all of
the parties hereto.
d. This Agreement shall be governed by the laws of the State of Texas and is specifically
performable in Collin County, Texas.
e. Any notice required or permitted to be given under this agreement shall be deemed
delivered by depositing the same in the United States mail, certified with return receipt
requested, postage prepaid, addressed to the appropriate party at the following addresses,
or at such other address as any part hereto might specify in writing:
WEDC: Samuel D. R. Satterwhite
Executive Director
Wylie Economic Development Corporation
250 S. Highway 78
Wylie, Texas 75098
COMPANY: FLM Development, LLC
P.O. Box 802047
Dallas, TX 75380
Attention: Charles McClure
By the execution hereof, each signatory hereto represents and affirms that he is acting on behalf of
the party indicated, that such party has taken all action necessary to authorize the execution and
delivery of the Agreement and that the same is a binding obligation on such party.
Page 4 of 5
C:\Users\Sam Satterwhite\Documents\Word Files\Ferrell\Performacne Agreement.doc
EXECUTED this day of April, 2016.
WEDC:
Wylie Economic Development Corporation
By:
Samuel D.R. Satterwhite, Executive Director
COMPANY:
FLM Development, LIC
By:
Charles McClure, Member
Page 5 of 5
ClUsers\Sam SatterwhitcWocuments\Word FilcsWerrcll Werformacne Agreerneni.doc
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11/19/15
1.0
ro 1 NO. DATE APP,
PRELIMINARY 1 VASQUEZ ENGINEERING, L.L.C.
DRAINAGE IMPROVEMENTS McCLURE 1 1919 S.Suite 440,LB 44
Shiloh Road
PARTNERS, LLC Garland,Texas 75042
REGENCY ROAD WYLIE, TEXAS Ph 972-278-2948
TX Registration#F-12266