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03-21-2017 (WEDC) Agenda Packet NOTICE OF MEETING Wylie EconomC icO R DevelopPORATmenI O Nt Regular Meeting Agenda March 21, 2017 —6:30 A.M. WEDC Offices—Conference Room 250 South Highway 78 —Wylie, Texas Marvin Fuller President Todd Wintters Vice President John Yeager Secretary Demond Dawkins Treasurer Bryan Brokaw Board Member Mayor Eric Hogue Ex-Officio Member Mindy Manson,City Manager Ex-Officio Member Samuel Satterwhite 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 February 24, 2017 Minutes of the Wylie Economic Development Corporation (WEDC) Board of Directors Meeting. II. Consider and act upon approval of the February 2017 WEDC Treasurer's Report. III. (Remove from Table) Consider and act upon a Performance Agreement between WEDC and SAF-Holland USA. IV. Consider and act upon an Agreement with Impact Data Source for consulting services. V. (Remove from Table) Consider and act upon issues surrounding the construction of parking improvements on WEDC property located at 111 N. Ballard. VI. Consider and act upon approval of an amendment to a Performance Agreement between WEDC and DANK Real Estate, Ltd. WEDC—Agenda March 21, 2017 Page 2 of 2 VII. Consider and act upon approval of an amendment to a Performance Agreement between WEDC and VIAA Properties, LLC. VIII. Consider and act upon approval of an amendment to a Performance Agreement between WEDC and Getset, LLC. DISCUSSION ITEMS IX. Staff report: review issues surrounding Performance Agreement Summary, Environmental Activity Summary, meeting date/time, Highway 78 WEDC pad sites, F.M. 544 pad sites, Local Entrepreneur Focus Group, Promotional Activities, and regional housing starts. X. Discuss issues surrounding a Regional Advertising and Marketing Initiative. XI. Discuss issues surrounding a WEDC FY 2016—2017 Budget amendment. 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: • Birmingham & Highway 78 • Brown & Ballard Section 551.087 (Economic Development) of the Local Government Code, Vernon's Texas Code Annotated (Open Meetings Act). • Project 2015-12a • Project 2016-10a • Project 2017-l a • Project 2017-2a • Project 2017-3a • Project 2017-3b RECONVENE INTO OPEN MEETING ADJOURNMENT CERTIFICATION I certify that this Notice of Meeting was posted on this 17th day of March 2017 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, February 24, 2017—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 6:31 a.m. Board Members present were John Yeager, Todd Wintters, Demond Dawkins and Bryan Brokaw. Ex-officio member Mayor Eric Hogue and Assistant City Manager Chris Hoisted were present. City of Wylie Assistant Finance Director Melissa Beard was in attendance. WEDC staff present was Executive Director Sam Satterwhite and Senior Assistant Angel Wygant. CITIZEN PARTICIPATION Lynn Grimes was present and informed the Board that Taste of Wylie was scheduled for Monday, April 24th at the First Baptist Events Center. She reported that Freddy's Frozen Custard had agreed to Sponsor and participate in the event. The Board was encouraged to attend if they were available. Ian McGregor was present and introduced himself as a new citizen in our community having lived in Wylie for a year. Mr. McGregor indicated that he was encouraged by Mr. Greiner to attend the meeting and get involved. Mr. Fuller welcomed him and thanked him for attending. With no further citizen participation, President Fuller proceeded to Action Items. ACTION ITEMS ITEM NO. 1 — Consider and act upon approval of the February 10, 2017 Minutes of the Wylie Economic Development Corporation (WEDC) Board of Directors Meeting. MOTION: A motion was made by Todd Wintters and seconded by John Yeager to approve the February 10, 2017 Minutes of the Wylie Economic Development Corporation. The WEDC Board voted 5 —FOR and 0 —AGAINST in favor of the motion. ITEM NO. 2—Consider and act upon approval of the January 2017 WEDC Treasurers Report. Staff introduced Melissa Beard, Assistant Finance Director for the City of Wylie, and thanked her for her assistance in managing WEDC financial records and reporting. Ms. Beard reviewed for the Board the Treasurer's Report and explained that the newly added Statement of Net Position provides the Board with a high-level evaluation of WEDC finances. She explained that in government it is important that WEDC—Minutes February 24, 2017 Page 2 of 12 the financials show the current year's revenues and expenditures. Deferred inflows and deferred outflows allow multi-year agreements to be recorded but the not recognized until the year that they occur. Ms. Beard described that the City/WEDC auditor, Weaver, LLP, is a leader in their industry and is the largest independent accounting firm based in Texas and the Southwest. Weaver was retained following a Request for Qualifications process and has served the City of Wylie for the last 9 years. John DeBurro, who manages our audit, is very well respected in the industry, speaking frequently as a subject matter expert at industry events. He was recently promoted to Partner. Overall,Weaver is an excellent resource for the City and is available all year long to advise and answer questions that ensure transactions are properly recorded. Ms. Beard reviewed the audit process which begins in August or September of each year. The audit begins with a week auditing Internal Controls that ensures that accounting rules and processes are being followed. In December,Field Auditors conduct a thorough review of the financial transactions that have occurred throughout the year. Ms. Beard noted that Weaver routinely reads all of the WEDC minutes to gain an understanding of the business activity that has occurred and ensure that all activity has been recorded correctly. She also noted that the auditors have commented almost every year that Wylie has a very active EDC, particularly given the size of our City. Mr. Fuller asked if there was a paper copy of the CAFR we could access. Ms. Beard explained there is an electronic copy of the CAFR available and limited numbers of printed copies are on file at the City Offices, the Library and one reference copy was provided to the WEDC. Staff covered the highlights of the Treasurers Report noting that sales tax this month was the largest ever recorded. In addition, staff called the Board's attention to the recovery of the December rent on the Kirby property and mentioned that we are now including a lease status report each month in the Treasurers Report. MOTION: A motion was made by John Yeager and seconded by Todd Wintters to approve the January 2017 Treasurers Report for the Wylie Economic Development Corporation. The WEDC Board voted 5 — FOR and 0 — AGAINST in favor of the motion. ITEM NO. 3 — {Remove from Table} Consider and act upon issues surrounding the construction of parking improvements on WEDC property located at 111 N. Ballard. MOTION: A motion was made by Todd Wintters and seconded by Demond Dawkins to Remove Item from Table. The WEDC Board voted 5 —FOR and 0—AGAINST in favor of the motion. Staff followed up on a question that arose at the last Board Meeting regarding the addressing for the 111 N. Ballard property owned by the WEDC. In researching the property with the City, it appears the property address is correct but the street name should be S. Ballard not N.Ballard. The City is notifying the County to make that correction in their records. WEDC—Minutes February 24, 2017 Page 3 of 12 The design of the parking improvements south of Boyd Recording Studios is soon to be completed and and submitted to the City Engineering Department for review. With plans incomplete and construction plans not out to bid, staff requested that this item be Tabled until the next Regular Board Meeting scheduled for March 17, 2017. Board Member Wintters inquired about how the bid process is handled. Staff explained that the WEDC does not have to follow the same public bid procedures that are required of other public entities but staff does in most all circumstances get three bids for construction projects and of course requires that all contractual documents are reviewed by WEDC Counsel. MOTION: A motion was made by Demond Dawkins and seconded by Bryan Brokaw to Table this item until the next Regular Board Meeting of the Wylie Economic Development Corporation scheduled for March 17, 2017. The WEDC Board voted 5 —FOR and 0—AGAINST in favor of the motion. ITEM NO. 4 - Consider and act upon a Performance Agreement between WEDC and SAF- Holland USA. Staff reminded the Board that Wylie was in competition with a community in Arkansas for this business expansion. The Board directed staff in Executive Session to extend a verbal incentive offer to SAF- Holland to award the expansion to the Wylie facility. The offer was accepted and is being formalized into a Performance Agreement. It was anticipated that the final Performance Agreement would be received from Abernathy's office prior to the Board Meeting, but other priorities prevented its completion. Staff requested that this item be Tabled until the next Regular Board Meeting scheduled for March 17, 2017. MOTION: A motion was made by John Yeager and seconded by Todd Wintters to Table this Item until the next Regular Board Meeting scheduled for March 17, 2017. The WEDC Board voted 5 —FOR and 0—AGAINST in favor of the motion. ITEM NO. 5—Consider and act upon issues surrounding an Agreement between the WEDC and The Retail Coach, LLC for consulting services. Staff informed the Board that Jason Greiner had developed this item for presentation and consideration by the Board. However, the scheduling of this Board Meeting conflicted with the TEDC Conference in Austin that Jason was registered to attend. Staff felt Jason's presence at this conference was important and is therefore presenting this item in his stead. Attached for the Board's review was a proposal from The Retail Coach to renew the Retail Consulting services they provide to the WEDC. The program has changed over the years, so the following is a brief recap of the services they provide. In 2007, the scope of the initial program was to assist the City and WEDC develop marketing materials for the International Council of Shopping Centers (ICSC) Annual Conference. The program was successful and The Retail Coach helped develop custom flyers, demographic data, and even facilitated WEDC—Minutes February 24, 2017 Page 4 of 12 meetings with brokers, developers and company representatives at the annual ICSC Conference. The Retail Trade Area demographics,property flyers, and overall marketing strategies were refined/updated in 2008, 2009 and again in 2010. In 2011, the WEDC signed a new agreement with The Retail Coach. Together, the WEDC and The Retail Coach developed a Restaurant Recruitment Strategy to identify growing concepts and individual retailers that would be an ideal fit for the City of Wylie. In 2015,the WEDC and The Retail Coach worked together on a more comprehensive Retail Recruitment Strategy. This two-year program was developed to capitalize on the momentum that was gained over the first few years of the partnership. The Retail Coach was 100%responsible for developing the marketing materials, identifying target retailers/restaurants, scheduling face-to-face meetings, and following up with the prospective retailers during the two-year contract period. The program included expanded market analysis, comprehensive demographic & psychographic profiles, retail leakage reports, appointment setting, and overall trade show representation at retail conferences across the country. Satterwhite commented that it is difficult to identify a specific project that the Retail Coach has been responsible for due to the level of participation that WEDC staff undertakes surrounding retail development. While staff may take the lead in many situations, it is vital to the WEDC recruitment process that full-time professionals represent the WEDC from beginning to end and maximize their relationships with the brokerage community. Below is a summary of The Retail Coach(TRC)Program: • Trade Show Representation &Appointments/Meetings o ICSC RECon o ICSC Deal Making o Retail Live! o Other Events that TRC attends o Developer and Retailer 1-on-1 meetings when possible • Demographic Research o RTA&Demographic updates for 2017 o Cell Phone Analysis • Property Flyer Development o Updated Retailer Maps o Updated Traffic Count Map o Updated/New Property Flyers as needed • Recruitment Services & Outreach Activities/Reporting o TRC outreach to Retailers, Developers, etc. o Activity updates every two months o Will report directly back to WEDC Staff As was shown on Page 18 of the proposal the project fees equal $30,000 which establishes a two-year service agreement and secures on-site assistance for scheduling and attending meetings at ICSC RECon 2017 and 2018. WEDC—Minutes February 24, 2017 Page 5of12 Staff recommended that the WEDC Board of Directors authorize the Executive Director to enter into an agreement with The Retail Coach in the amount of$30,000 for the creation and implementation of a retail economic development plan. Board Member Wintters commented on the quality and professionalism of the Retail Coach staff, flyers and presentation material. The content is exactly what developers and prospects are needing to consider Wylie. Wintters felt having this information readily available during meetings at ICSC RECon provides an enormous benefit to the WEDC. MOTION: A motion was made by John Yeager and seconded by Todd Wintters to authorize the Executive Director to enter into an agreement with The Retail Coach in the amount of$30,000. The WEDC Board voted 5 —FOR and 0—AGAINST in favor of the motion. ITEM NO. 6 — Consider and act upon a Performance Agreement between WEDC and All State Fire,Inc. On December 29, 2014, the WEDC entered into a Performance Agreement with All State Fire Equipment. The Agreement was further Amended in May of 2015 to allow for the date by which a CO was issued to be amended from December 31, 2015 to August 1, 2016. The Board may recall that there was considerable difficulty during the All State loan process due to the appraiser having difficulty identifying comparable sales comps in the area. All State had to put more cash down to offset the appraisal challenges. Construction started in July 2015 with a CO subsequently issued on March 9, 2016. What staff failed to realize at the time of the Amendment was that Incentive Payment No. 2 of$20,000 was based upon personal property values coming in at$215,000 and being included in the required$1.1 mm cumulative total value of real and personal property. With the CO not issued until March 2016, personal property was still located in Rowlett as of January 1, 2016. Real property value came in at$956,445. Had the personal property been located in Wylie as anticipated when the Agreement was originally signed in December 2014,the total valuation would have been$1.4 mm with the actual personal property value in Rowlett coming in at$459,950. Section IV of the Agreement indicates that the incentive payment will be voided if the Performance Requirements are not met. Under the extenuating circumstances,staff would like for the Board to discuss potentially reducing the incentive payment by what would have been generated in property taxes on the actual personal property value of$459,950 which equals$6,066. Subtracting the personal property taxes from the total eligible incentive equals $13,934. Staff recommended that the WEDC Board of Directors approve an amended Incentive Payment No. 2 of$13,934 subject to the confirmation that all other performance measures within the Agreement are met. MOTION: A motion was made by Todd Wintters and seconded by John Yeager to approve an amended Incentive Payment No. 2 of$13,934 subject to WEDC—Minutes February 24, 2017 Page 6 of 12 the confirmation that all other performance measures within the Agreement are met. The WEDC Board voted 5 —FOR and 0—AGAINST in favor of the motion. ITEM NO. 7 - Consider and act upon the awarding of a bid to Texas Dirt Contractors for the completion of Sellers Work as identified in the Purchase and Sale Agreement by and Between Wylie Economic Development Corporation and Chick-Fil-A. As required within the Purchase and Sale Agreement between the WEDC and Chick-Fil-A (CFA), the WEDC is required to construct two deceleration lanes, a mutual access drive, and reconstruct median improvements. As specifically negotiated to offset the cost of an oversized deceleration lane at Cooper Drive, CFA will pay WEDC $41,000 at closing. Firms bidding on the job were as follows with their bid amount included: Tackett Concrete $522,320 Bright Excavation 538,000 Texas Dirt Contractors 475,209 Other firms that were contacted but could not bid based upon current workloads were Tri-Con, Holly & Holly, MCG Construction, and GT Construction. A full set of plans has been submitted to the City of Wylie Engineering Department and approved. Helmberger Associates will provide construction management services until the project is completed. While Helmberger Associates is familiar with Texas Dirt Contractors work, Mr. Joe Tidwell of the City Engineering Department has overseen several Texas Dirt projects locally and has assured staff everything will be done by the book and monitored closely. The Start Date as identified in the attached Contractor Agreement is March 17, 2017 with the Completion Date April 28, 2017. WEDC Counsel Mr. Randy Hullett is taking the business points within the Contractor Agreement as attached and placing those terms into a standardized format which Mr. Hullett has indicated more thoroughly protects WEDC interests. The Board will note that Draw#1 within the Contractor Agreement of$61,160 is incorrect. Draw#1 in the amount of$37,400 as reflected in the Exhibit B Draw Schedule is accurate and will be reference within all Contract Requirements as developed by Randy Hullett. Staff recommended that the WEDC Board of Directors award a bid for infrastructure improvements to Texas Dirt Contractors in the amount of$475,209, further authorizing the WEDC Executive Director to execute all documentation necessary to effectuate subsequent Contract Requirements as developed by Randy Hullett of Abernathy, Roeder, Boyd, & Hullett. Board Member Wintters noted that the actual amount was $475,209.68 and asked that the approved amount be amended to reflect that amount. WEDC—Minutes February 24, 2017 Page 7of12 MOTION: A motion was made by Demond Dawkins and seconded by John Yeager to award a bid for infrastructure improvements to Texas Dirt Contractors in the amount of$475,209.68, as amended, and further authorizing the WEDC Executive Director to execute all documentation necessary to effectuate subsequent Contract Requirements as developed by Randy Hullett of Abernathy, Roeder, Boyd & Hullett. The WEDC Board voted 5 —FOR and 0 —AGAINST in favor of the motion. ITEM NO. 8 - Consider and act upon the ratification and approval of a Real Estate Contract between Patsy Joe McMillan, Margaret McMillan and the WEDC. As directed by the Board in Executive Session, staff executed a Real Estate Contract to purchase 0.26 acres from the McMillan family located near the northwest corner of Jackson and Oak. The negotiated purchase price is $75,000. The property can be used to either compliment an adjacent City-owned parking lot or be used independently for commercial development. Outside the terms of the attached Contract, staff is working with the McMillan family to have the existing home demolished prior to the WEDC taking ownership. This approach will be beneficial to the WEDC in that staff will not have to oversee a contractor or be liable for any issues which may arise out of the demolition process. Staff will bring an amendment to the Contract for Board approval at a future meeting detailing the terms of the proposed change which is well within the 120-day due diligence period. Staff recommended that the WEDC Board of Directors ratify and approve a Real Estate Sales Contract between Patsy Joe McMillan, Margaret McMillan, and the WEDC. MOTION: A motion was made by Bryan Brokaw and seconded by John Yeager to ratify and approve a Real Estate Sales Contract between Patsy Joe McMillan, Margaret McMillan and the WEDC. The WEDC Board voted 5 —FOR and 0—AGAINST in favor of the motion. DISCUSSION ITEMS ITEM NO. 9— Staff report: review issues surrounding WEDC Performance Agreement Summary, the Environmental Activity Summary, WEDC Financial Audit, Wylie Days, Collin County Days, Highway 78 WEDC Pad Sites, Promotional Activities, and regional housing starts. WEDC Performance Agreement Summary Attached for the Board's review was a summary of all outstanding Performance Agreements including: ACG Texas LP, Ascend Custom Extrusion, All State Fire Equipment, B&B Theatres Operating Company, Clark Street Development, Dank Real Estate, Exco Extrusion Dies, Freudiger Holdings, WEDC—Minutes February 24, 2017 Page 8of12 Getset,KREA Acquisition,Mil-Tib,McClure Partners,Patna Properties,Ronald P. and Carole A.Trout, T.W. Snider, VIAA Properties, Von Runnen Holdings, Wedge Corporation, and Woodbridge Crossing. Woodbridge Crossing Attached for the Board's review was the Sales Tax Reimbursement Report which identifies all sales taxes received through December 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. $4,032,045.23 in reimbursement has been earned through January 2017 with net receipts of $3,260,088.03 after reimbursements. As well, it is estimated that $4.1 mm has been paid in ad valorem taxes to the City of Wylie (excluding the WISD). As shown on the Sales Tax Reimbursement Report, $142,917.21 was generated in sales tax in November 2016 versus $126,607.23 in November 2015. This represents 12.9%increase over 2015 receipts. Environmental Activity Report 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 Mann Made,K&M,Business Way, 111 N. Ballard, 908 Kirby, 201 Industrial Court, is processing the VCP application for the Commerce property, and processing the Municipal Setting Designation through the City. WEDC Financial Audit Excerpts from the Comprehensive Annual Financial report were provided for the Board's review. Staff has only included excerpts due to the report being 136 pages. All references to the WEDC have been highlighted. As well, Mrs. Melissa Beard, Assistant Finance Director, spoke earlier in the meeting to review the Audit and WEDC financials. Wylie Days On February 8-9, representatives from the City Council, WISD Board of Trustees, City & ISD staff, Chamber of Commerce, WEDC Board & staff, and Oncor traveled to Austin to meet with State Legislators and address issues of local interest up for consideration this Session. As this event evolves, a greater effort will be made to encourage concerned citizens outside of the above identified entities to attend and display a broad range of interest in the decisions made by our local elected officials in Austin Collin County Days On March 28-29, a larger "Collin County" contingency will travel to Austin to accomplish the same goals as the Wylie event but from a County perspective. A much smaller group from WEDC, Chamber and WISD will attend with Council having a previously scheduled Council Meeting. WEDC—Minutes February 24, 2017 Page 9 of 12 Hiihwav 78 WEDC Pad Sites Ground water samples are currently being taken from the WEDC property with results expected on 2- 23-17. With soil samples already in hand,the VCP application should be prepared and sent to the TCEQ the week of 2-27. Assuming the application is complete, the TCEQ will issue a case number within 60 days of receipt and at that time the site officially becomes enrolled in VCP. Promotional Activities As reported regularly,the WEDC has a '/4 interest in Maverick's Season tickets for the 2016-17 Season. A spreadsheet tracking the use of those tickets was attached for the Board's review. Regional Housing Starts Fifteen homes were permitted in Wylie for the month of January 2017. Sachse, Lavon, Murphy permitted a combined nineteen over the same period with Inspiration permitting ten over the same period. No action was requested by staff for this item. ITEM NO. 10 — Discuss issues surrounding a proposed mixed use concept on WEDC property located on Jackson Street between Oak and Marble. Staff has encountered difficulty in marketing the WEDC property on Jackson Street for the envisioned mixed use project. The common response of potential developers is project cost versus the limited income producing square footage. In December staff requested that Pulliam Construction Management (PCM) evaluate the concepts developed by McCarthy Architecture for construction costs and potential income. As a review, there were three schemes developed by McCarthy identifying different structural configurations and retail/living unit densities. The summary of each concept follows with the concept plans attached: Scheme A: Retail 21,820 square feet Dwellings 34,462 square feet- *41 units Parking Deck(2nd floor) 15,581 square feet Parking Required 137 ** Parking Provided 116 *** * Dwelling units identified are predominately 800 square feet ** 32 existing parking spaces currently being utilized for downtown will be lost *** Not including 24 spaces on west side of Jackson and 21 public parking spaces at Oak& Jackson WEDC—Minutes February 24, 2017 Page 10 of 12 Scheme B: Retail 16,531 square feet Dwellings 59,989 square feet- *66 units Parking Deck (2"d floor) 39,485 square feet Parking Required 173 ** Parking Provided 190 *** * Dwelling units identified are predominately 800 square feet ** 32 existing parking spaces currently being utilized for downtown will be lost *** Not including 24 spaces on west side of Jackson and 21 public parking spaces at Oak&Jackson Scheme C: Retail 21,272 square feet Dwellings 34,646 square feet- *41 units Parking Deck(2"d floor) 39,485 square feet Parking Required 135 ** Parking Provided 127 * Dwelling units identified are predominately 800 square feet ** 32 existing parking spaces currently being utilized for downtown will be lost *** not including 24 spaces on west side of Jackson and 21 public parking spaces at Oak& Jackson In refining PCM's task,staff made the assumption that the ultimate goal is to generate as much residential density as possible. Under that assumption PCM was instructed to start with Scheme B in identifying construction cost along with annual revenue/expense projections as follows: Construction Cost $14.3 mm Revenue $964,883 Debt Service $716,267 Overhead $650,472 Cash Flow ($498,344) Another factor impacting the analysis is that there is no basis for land cost which must be factored in at market rates. In evaluating areas of concern as relating to construction cost, $2.2 mm alone is estimated for the parking deck which is difficult to offset with limited density and similarly impacts Schemes A&C. WEDC—Minutes February 24, 2017 Page 11 of 12 Following the realization that Scheme B will be difficult for a typical investor to undertake, staff requested that PCM identify project specifications which may have a better opportunity to cash flow which was presented as Scheme D and is as follows: Scheme D: Retail 4,000 square feet Dwellings 22,400 square feet- *22 units Parking Deck(2nd floor) n/a Parking Required 58 ** Parking Provided 90 * Dwelling units identified are 10 @ 800 square feet and 12 @ 1,200 square feet ** 32 existing parking spaces currently being utilized for downtown will be lost *** not including 24 spaces on west side of Jackson and 21 public parking spaces at Oak&Jackson Construction Cost $3.5 mm Revenue $327,200 Debt Service $160,080 Overhead $167,518 Cash Flow ($33,118) Under Scheme D,the retail/office space could potentially be supported without changing traffic patterns due to its orientation toward Marble, the existing 32 spaces of parking could be accommodated on site without having to utilize the `City' parking lot at Oak and Jackson, and the `City' parking lot could potentially be redeveloped with a commercial use without the need for the parking it provides. The scaled-back Scheme D also allows for the commercial development of the McMillan property since on- street parking on the west side of Jackson will support its commercial use. Staff is not prepared to fully abandon the concepts developed by McCarthy (in conjunction with staff), but there appears to be a wide gap between what we want and what can actually be delivered by the investment community. No action was requested by Staff for this item. EXECUTIVE SESSION Recessed into Closed Session at 7:56 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: WEDC—Minutes February 24, 2017 Page 12 of 12 • Ballard and Stone Section 551.087 (Economic Development) of the Local Government Code, Vernon's Texas Code Annotated(Open Meetings Act). • Project 2015-12a • Project 2016-10a • Project 2017-la • Project 2017-2a Section 551.071 (Consultation w/ Attorney) of the Local Government Code, Vernon's Texas Code Annotated (Open Meetings Act). A governmental body may not conduct a private consultation with its attorney except: (1) When the government body seeks advice of its attorney about: (1) pending or contemplated litigation; or (2) a settlement offer, or (2) of a matter in which the duty of the attorney to the governmental body under the Texas Disciplinary Rules of Professional Conduct of the State Bar of Texas clearly conflicts with this chapter. • Receipt of a complaint from Mark Winnubst and Latrice Andrews of Sheils Winnubst,PC. Mayor Hogue left the meeting at 9:01 a.m. and returned at 9:03 a.m.; left again at 9:05 a.m. and returned at 9:28 a.m. RECONVENE INTO OPEN MEETING The WEDC Board of Directors reconvened into open session at 9:29 a.m. and took no action. ADJOURNMENT With no further business, President Fuller adjourned the WEDC Board meeting at 9:29 a.m. Marvin Fuller, President ATTEST: Samuel Satterwhite, Director Wylie Economic Development Corporation MEMORANDUM TO: Samuel Satterwhite, Executive Directo�J FROM: Angel Wygant, Senior Assistant SUBJECT: February 2017 Treasurer's Report DATE: March 15, 2017 Issue Consider and act upon approval of the February 2017 WEDC Treasurer's Report. Analysis From the Balance Sheet,page 1: Deposits - $7,000. This amount reflects a deposit WEDC paid to Wylie Industrial Court for the current location of the WEDC office in the amount of$2,000 and a $5,000 Escrow Deposit for the purchase of the McMillan Property located at 105 N. Jackson Street. Loan Receivable - $59,649.12. This represents the balance of the Wylie Ice Cream Holdings note, which is reduced by the principal paid each month. There was a starting balance of$93,950 as of December 2012. Wylie Ice Cream Holdings has 34 payments remaining with a balloon payment of$33,248.44 due on 12-15-19. Account Rec — Forgivable Loans - $371,666.66. This figure includes the remaining balance of The Wedge loan in the amount of$91,666.66. Assuming The Wedge remains in compliance with their Performance Agreement, forgiveness of the remaining loan balance will be made on 12/31/18. The figure above also includes the loan made to Exco Extrusion Dies in the amount of $350,000. The first loan payment was forgiven on February 24, 2017 in accordance with the terms of the Performance Agreement. Assuming Exco remains in compliance, the remaining 4 loan payments will be forgiven in equal amounts of $70,000 on an annual basis effective February 24th Deferred Outflows - $589,500. This is a total of incentive payments which are due in the future. A breakdown of these charges includes: B & B Theatres - $50,000, Dank Real Estate - $7,500, GetSet - $20,000, All State Fire - $40,000, Von Runnen Holdings - $10,000, Exco Extrusion Dies— $60,000, KREA - $100,000, McClure Partners - $50,000, T.W. Snider - $42,000, VIAA - WEDC February 2017 Treasurer's Report March 15, 2017 Page 2 of 3 $20,000, Patna Properties - $10,000, Freudiger Holdings - $30,000, ACG Texas - $35,000, Trout - $15,000, and REVA Hospitality- $100,000. From the Balance Sheet,page 2: Deferred Inflow - $215,649.12. The Deferred Inflow Account tracks deferred revenues to be received from Wylie Ice Cream Holdings and Exco Extrusion Dies. The Wylie Ice Cream deferred revenue is reduced by the monthly principal payment actually received, which for January was $744.85. The Exco Extrusion Dies deferred revenues will be reduced by $39,000 annually over a 5-year period. The annual $39,000 amount represents one fifth of the $195,000 profit that would have occurred if the loan forgiveness were not in place ($350,000 - $155,000 = $195,000). Rental Deposits — $6,000. Security deposits associated with lease obligations assigned to the WEDC as part of the purchase of 900-908 Kirby for 2 tenants: DCU ($,3000) and Auto Hail ($3,000). Revenue and Expense Report,page 2: Interest Earnings - $251.64. Interest earnings from the Wylie Ice Cream Holdings Loan Repayment- $744.85. Principal payment from the Wylie Ice Cream Holdings. Rental Income — $12,500. DCU - $3,400, Delta-E - $800, Wheels Unlimited - $1,400, Austin- Said- $4,000, Richmond Hydromulch- $500, Trimark- $2,000, Helical Concepts - $400. Gain/(Loss) Sale of Capital Asset — ($31,000). This amount reflects one fifth of the loss, or unrealized profit, associated with the Exco property. In essence, one fifth of $155,000 which represents the difference between the WEDC's purchase price ($155,000) and the market value of the property at the time is was sold to Exco ($350,000). Revenue and Expense Report,page 3: Office Supplies - $710.05. General Office Supplies — ($161.53), Wylie Days Book Covers ($275), Tabs ($135), Wireless Slide Advance ($37.83), Brochure Holder ($39.98), Wylie Days book($60.71). Postage - $7.49. Postage—B&B Incentive. Food Supplies - $298.20. WEDC Board Mtg. Meal — January ($63.86), WDMA Meeting ($35.94), Leadership Wylie ($198.40). Incentives - $32,000. Ascend 2 (Final Payment) ($24,000), T.W. Snider 1 of 2 ($8,000). WEDC February 2017 Treasurer's Report March 15, 2017 Page 3 of 3 Special Services — $7,210.37. Claritas Report ($288), Janitorial ($315), Utility Permit ($2,000), Environmental—605 Commerce ($3,307.37), Environmental—Kirby($1,300). Advertising - $6,295. Connection ($3,000), Wylie News Holiday Ad ($240), In & Around ($1,555), Chamber Banner Ad($1,500). Community Development - $3,130. Chamber luncheon ($80), Plant — Dorothy Heath ($50), Rotary Flag Program ($3,000). Travel & Training - $1,425.30. Franchise Expo — Greiner ($10), Retail Forecast ($224.50), Wylie Days Air - Brokaw ($230.40), Wylie Days Air — Greiner ($193.40), Wylie Days Air — Fuller ($177.88), Wylie Days Pkg/mileage — Satterwhite ($202.97), Wylie Days Taxi — Fuller ($64.30), Business Mtg/Prospect Recruit—($321.85) Dues & Subscriptions - $687.86. ICSC Membership - Brokaw ($50), Club Corp Dues—January ($637.86). Audit & Legal - $5,419.50. Atty Fees: Dallas Whirlpool ($1,420), Jarrard ($2,499.50), REVA ($620), CFA ($880). Engineering & Architectural - $3,343.30. Engineering Services — Hwy 78 Deceleration Lane ($1,800), Concept Plan—544 & Comm. ($1,543.30). Streets & Alleys - $37,400. Hwy 78 Deceleration Lane Construction Contract Mobilization. Recommendation Staff recommends that the WEDC Board of Directors approve the February 2017 Treasurer's Report. Attachments February 2017 Treasurer's Report Sales Tax Revenue Wylie Economic Development Corporation Statement of Net Position As of February 28,2017 Assets Cash and cash equivalents $ 1,086,954.78 Receivables $ 431,315.78 Note 1 Inventories $ 8,913,591.72 Prepaid Items $ Total Assets $ 10,431,862.28 Deferred Outflows of Resources Pensions $ 66,481.55 Total deferred outflows of resources $ 66,481.55 Liabilities Accounts Payable and other current liabilities $ 110,286.65 Unearned Revenue $ 221,649.12 Note 2 Non current liabilities: Due within one year $ 1,971,081.42 Note 3 Due in more than one year $ 3,948,895.25 Total Liabilities $ 6,251,912.44 Deferred Inflows of Resources Pensions $ 2,839.41 Total deferred inflows of resources $ 2,839.41 Net Position Net investment in capital assets $ - Unrestricted $ 4,243,591.98 Total Net Position $ 4,243,591.98 Note 1: Includes incentives in the form of forgivable loans for$371,666.65 Note 2: Wylie Ice Cream loan payments;Exco amortization;deposits from rental property Note 3: Liabilities due within one year includes compensated absences of$57,489.00 Note 4: The WEDC provides monetary incentives to companies to relocate/expand within the City of Wylie. At February 28,2017, these commitments totaled$589,500.00. __. • . . . 3-17-21117 0A:-.4 An C=T CE 1JYLIEPAGE: 1 BAI:ANcE AS F; FThRUARY 111-WYLIE ETIOM:C DEVEL cORP Ac1.-::UNTO TITLK . . 000-[ ]: chATM 1050-1 :=, - CCII - 1•.00 0.00 1.100-1319 MIsc cLflARTNG C.00 ]no-lo341 TuPooL c:.(Jo lono-zol3 ENTERET R.F.0EIVA51-,E 11_00 500-111,11 AccTs kEc mIgc 0.00 EY:0-1I17 AcCTs 020 - sAL;-.".s TA): 0.03 10[0-1251i0 lOOSE PAYMENTs RE,0ELVAn1.1. 0.130 1'350-L2903 rpc,-==,-)S lo7CI 'J/oP.J3- 0.00 LcAN 1000-I2 JTM TErfl 0.03 1J)00-120,7!q OUTS REC - FORCIVEABLE LANs 10D0-14.:12 1NvENT01R0' - MATERIAL/ S- 1,i,LY 0.103 14010-3.1i:6 'WvF.NToRy - LAND & 50I1DINCS 1.32113-1-112.9 I10VEN7nRY - 'BAYco/ sAAVEN BLVD ()_130 10011-1-1i0 PREFAID ESPEN:-:E - y.isr 190o-]-1410 3EFRI320-.5 OUTFLOWS ToTAL A.FP:Ts 11,:"1.21, i62.28 ----- •• 2000-20310 21121001 fNcDmm TAx 301101300 C.00 XEr:IcARE pArAnLm (!.no c!!T1.f) SUPPORT PAYABLE 6.00 CREDI: UNION PlIv;v3LE 0.00 4 TR:.•4 .F.VY P AThi.E NATIoNW7DE 312F00R113) CCMP NEALTH ':NsUR PAY-EMPLoYEE 0.09) PAYARTF. ;•.c%Ct 2111(0-7010 Ron 1100 PAYARLE 2000-7011 wCRF.ERs COMP PAYAnLP 0.C11 111.10-2^023 FICA PAYABLE 1.23 100.)-:0121 TEC- PAYADLE 3.03 2001}-20022 STaDENT LOAN LEVY PAYARLE o.C,A 7230-7012 ALIMoNY PAYAFILE 6.C:f; 2011-204 DANKRUT.,,TCY rAYOn-LE 112,0 2000-25 VALZC DEFERRED coMP c,.V1 2300-20I26 ?y.MA PAYAL1 c,c:n id ,:. I.VcAL 2100010123 2000-2010) 20EXI51E :-IPE1101NG 2L50.00 2:00-2 : EDWARD JONES DEFERRED ..:0MP EMF. 702TE i2.00 .2030-2011 ACCRUED 0A1Z3 PAYABLE 0,01] AIXOLT ENPLOYEF :1•:0120 PAY mIs pArRoLL 007ARLF 13.00 AM .-rITY OF WYLIE F1iD TT F'-'67.:1;ARY 11-WITTE 1EI:VM. CORP ,W6WNTk TITLE 2o,-)0- !.- .1 Ay 17V) Kf.; ,000-,P020 ACCf. .*,71‘: PAYA3LL 20,00-21a P1',..71PFRTY T7FPAYAN,],: NoTS FAYAF:LF. 2CP00-2191,..1 Tc ZERAI, FUND - 2030-222530 DE7ERP.D 7NEL:Tc; - ESASL': ]:17 Si.00 RFNTAL 92:,135.1].3 F.OUITY !.TND nAT.INF - .3EFRV711, nj ..)01.1-..i4.7,9.) FUND :,ALAW:°-1-.VR.'71,,V/UNDESI“ TUFL ar:67NN7NG EVI.,=TY TOTAL BEVENUE: TOTAL FXTPENSE.ti R2VENjE uVER/(UNDLR) EXPENSES TiT7A1. OVER/ IUMD[7. 1 70U:TY OW,L7.k/(UNDEI --•••- • • -1 7-2. : 3 8: 7 Am (.3 Ty i7JLC EAGE: 322-3713!) LC.NL.; TERN DEPT PIEDO N7,: UNT4 T:TLE 11 -11317 (=r,vER!.:mF.NT 133710-1320 :JDAN - 5::.[,?7,!Z11C!LA.:%1 0.130 AAMMT S1 r-,.,.-)VDM 33 Lr. 0 CLOn 1a70-390'30 577 - CjN7PraPT:cn 93 3117 - TMVE•:..•-;TMENT - ACT 1000-131121 KlArN121.G.SS UM 6.5,642.14 TOTAL LIA6ZI.r..T=E:s • • • 2006-2313L0 Co4I,EN,:&1131 A13S3710'5', PA?AELE .7(241' L1311 PAYAELL-:.:URN.ZNT 330 iNTEFEST 4,C30.5 Wn)(7 1.;)AN5/C1ik-A3V: 20330-28224 2.1PHIMGAM LoAN C,.00 :•!)00-.7, 313 71513113D 5133611 0.00 .7.D033- 82.12 ANL ;.vAN/ED(:E 3:A0 200-26233 ANrf L33I.AN/rF.bL1470. WITE 26100-213.1:34 E.oAAYRANDAcE r.UcHEs 173)37! 1, or) ANFs CUM5TRNCT:ON 133115 6.00 20.610-28237 ANL LoAS/ wconr3R=,. PAPKY7AY 5153,70r.11) 162,44[.j,0 2110-237i9 LOAIii.:0":": 03ArET PAY:TA 2000-2?-s2 4(1 IfU1333E1 LOAN Cl.CO 21ark-2R24 AIM LAN.1F/ALL.4.-; W:!1?%.LPCOL 2.4'.10-./8.%47 jARPARD 2.:)d13- 132 ..:TTY t•Pc'T.UT. f.L70.74 331.110 PP7mE 131)133-1 3,711 0.310 2.1310-23230 RONLANWAND.I.:PF.ON C, 21300-243.7 .0 CAPITA:, ON:P. 1:132A1:1 (jOb 510 f11.e.P.RT/•21:41,11-;RcE LOAN n 33•3 71:NS ION L7Af75.T:.:TY 188,412.I; 1.;P;B:LETIEs ,34 ,:A .33 EVIJ TY •• 11)10-71590 cum) 461..At•11-E-110:7:2:111-:P.',..•/(iNDE:; .50) 1033:1-T,'S,'“)t) ,,.INR.F.STR:.:7F.D NET Vo13.11:103: I ill.':45113.00.1 rryr2-,1, ( 131(13)31, RF,VENUE: . IOTA F: 1 2 I, , q 3-17-2017 08:37 AM CITY OF WYLIE PAGE: 2 BALANCE SHEET AS OF: FEBRUARY 28TH, 2017 922-GEN LONG TERM DEBT (WEDC) ACCOUNT# TITLE REVENUE OVER/(UNDER) EXPENSES ( 2,032,540.64) TOTAL EQUITY & OVER/(UNDER) ( 5,883,539.14) TOTAL LIABILITIES, EQUITY & OVER/(UNDER) 63,642.14 3-16-2017 01:44 PM CITY OF WYLIE PAGE: 2 REVENUE AND EXPENSE REPORT - (UNAUDITED) AS OF: FEBRUARY 28TH, 2017 111-WYLIE ECONOMIC DEVEL CORP REVENUES CURRENT CURRENT PRIOR YEAR Y-T-D Y-T-D BUDGET % OF BUDGET PERIOD PO ADJUST. ACTUAL ENCUMBRANCE BALANCE BUDGET TAXES 4000-40150 REV IN LEIU OF TAXES 0.00 0.00 0.00 0.00 0.00 0.00 0.00 4000-40210 SALES TAX 2,467,295.00 276,697.76 0.00 670,852.81 0.00 1,796,442.19 27.19 TOTAL TAXES 2,467,295.00 276,697.76 0.00 670,852.81 0.00 1,796,442.19 27.19 INTERGOVERNMENTAL REV. 4000-43518 380 ECONOMIC AGREEMENTS 0.00 0.00 0.00 0.00 0.00 0.00 0.00 TOTAL INTERGOVERNMENTAL REV. 0.00 0.00 0.00 0.00 0.00 0.00 0.00 INTEREST INCOME 4000-46050 CERTIFICATE OF DEPOSIT 0.00 0.00 0.00 0.00 0.00 0.00 0.00 4000-46110 ALLOCATED INTEREST EARNINGS 1,000.00 205.96 0.00 1,236.23 0.00 ( 236.23) 123.62 4000-46140 TEXPOOL INTEREST 0.00 0.00 0.00 0.00 0.00 0.00 0.00 4000-46143 LOGIC INTEREST 0.00 0.00 0.00 0.00 0.00 0.00 0.00 4000-46150 INTEREST EARNINGS 2,962.85 251.64 0.00 3,480.79 0.00 ( 517.94) 117.48 4000-46160 LOAN REPAYMENT (PRINCIPAL) 8,995.15 744.85 0.00 3,693.46 0.00 5,301.69 41.06 4000-46210 BANK MONEY MARKET INTEREST 0.00 0.00 _ 0.00 0.00 0.00 0.00 0.00 TOTAL INTEREST INCOME 12,958.00 1,202.45 0.00 8,410.48 0.00 4,547.52 64.91 MISCELLANEOUS INCOME 4000-48110 RENTAL INCOME 72,600.00 12,500.00 0.00 40,506.64 0.00 32,093.36 55.79 4000-48310 RECOVERY - PRIOR YEAR EXPEN 0.00 0.00 0.00 0.00 0.00 0.00 0.00 4000-48410 MISCELLANEOUS INCOME 115,758.00 0.00 0.00 0.00 0.00 115,758.00 0.00 4000-48430 GAIN/(LOSS) SALE OF CAP ASS 1,350,000.00 ( 31,000.00) 0.00 ( 31,000.00) 0.00 1,381,000.00 2.30- TOTAL MISCELLANEOUS INCOME 1,538,358.00 ( 18,500.00) 0.00 9,506.64 0.00 1,528,851.36 0.62 OTHER FINANCING SOURCES 4000-49160 TRANSFER FROM GENERAL FUND 0.00 0.00 0.00 0.00 0.00 0.00 0.00 4000-49325 BANK NOTE PROCEEDS 0.00 0.00 0.00 2,300,000.00 0.00 ( 2,300,000.00) 0.00 4000-49550 LEASE PRINCIPAL PAYMENTS (0 0.00 0.00 C.00 0.00 0.00 0.00 0.00 4000-49600 INSURANCE RECOVERIES 0.00 0.00 0.00 0.00 0.00 0.00 0.00 TOTAL OTHER FINANCING SOURCES 0.00 0.00 0.00 2,300,000.00 0.00 ( 2,300,000.00) 0.00 TOTAL REVENUES 4,018,611.00 259,400.21 0.00 2,988,769.93 0.00 1,029,841.07 74.37 3-16-2017 01:44 PM CITY OF WYLIE PAGE: REVENUE AND EXPENSE REPORT - (UNAUDITED) AS OF: FEBRUARY 28TH, 2017 111-WYLIE ECONOMIC DEVEL CORP DEVELOPMENT CORP-WEDC DEPARTMENTAL EXPENDITURES CURRENT CURRENT PRIOR YEAR Y-T-D Y-T-D BUDGET o OF BUDGET PERIOD PO ADJUST. ACTUAL ENCUMBRANCE BALANCE BUDGET PERSONNEL SERVICES 5611-51110 SALARIES 267,575.00 20,583.72 0.00 108,315.25 0.00 159,259.75 40.48 5611-51130 OVERTIME 0.00 0.00 0.00 0.00 0.00 0.00 0.00 5611-51140 LONGEVITY PAY 1,168.00 0.00 0.00 1,168.00 0.00 0.00 100.00 5611-51145 SICK LEAVE BUYBACK 0.00 0.00 0.00 0.00 0.00 0.00 0.00 5611-51160 CERTIFICATION INCENTIVE 0.00 0.00 0.00 0.00 0.00 0.00 0.00 5611-51170 PARAMEDIC INCENTIVE 0.00 0.00 0.00 0.00 0.00 0.00 0.00 5611-51210 CAR ALLOWANCE 12,600.00 969.26 0.00 4,678.66 0.00 7,921.34 37.13 5611-51220 PHONE ALLOWANCE 4,656.00 0.00 0.00 2,328.00 0.00 2,328.00 50.00 5611-51230 CLOTHING ALLOWANCE 0.00 0.00 0.00 0.00 0.00 0.00 0.00 5611-51260 MOVING ALLOWANCE 0.00 0.00 0.00 0.00 0.00 0.00 0.00 5611-51310 TMRS 42,427.00 3,250.20 0.00 16,894.35 0.00 25,532.65 39.82 5611-51410 HOSPITAL & LIFE INSURANCE 32,521.00 2,850.12 0.00 14,000.12 0.00 18,520.88 43.05 5611-51415 EXECUTIVE HEALTH PLAN 0.00 0.00 0.00 0.00 0.00 0.00 0.00 5611-51420 LONG-TERM DISABILITY 1,471.00 83.93 0.00 468.98 0.00 1,002.02 31.88 5611-51440 FICA 17,443.00 1,278.10 0.00 4,276.75 0.00 13,166.25 24.52 5611-51450 MEDICARE 4,079.00 298.90 0.00 1,601.72 0.00 2,477.28 39.27 5611-51470 WORKERS COMP PREMIUM 716.00 0.00 0.00 495.36 0.00 220.64 69.18 5611-51480 UNEMPLOYMENT COMP (TWC) 810.00 0.00 0.00 0.00 0.00 810.00 0.00 TOTAL TOTAL PERSONNEL SERVICES 385,466.00 29,314.23 0.00 154,227.19 0.00 231,238.81 40.01 SUPPLIES 5611-52010 OFFICE SUPPLIES 5,500.00 710.05 0.00 1,021.91 0.00 4,478.09 18.58 5611-52040 POSTAGE & FREIGHT 980.00 7.49 0.00 16.89 0,00 963.11 1.72 5611-52130 TOOLS/ EQUIP (NON-CAPITAL) 0.00 0.00 0.00 0.00 0.00 0.00 0.00 5611-52810 FOOD SUPPLIES 2,250.00 298.20 0.00 482.08 0.00 1,767.92 21.43 5611-52990 OTHER 5,000.00 0.00 0.00 0.00 ,).00 5,000.00 0.00 TOTAL SUPPLIES 13,730.00 1,015.74 0.00 1,520.88 0.00 12,209.12 11.08 MATERIALS FOR MAINTENANC 5611-54630 TOOLS & EQUIPMENT 0.00 0.00 0.00 0.00 0.00 0.00 0.00 5611-54810 COMPUTER HARD/SOFTWARE 3,000.00 0.00 0.00 187.50 0.00 2,812.50 6.25 5611-54990 OTHER 0.00 0.00 0.00 0.00 0.00 0.00 0.00 TOTAL MATERIALS FOR MAINTENANC 3,000.00 0.00 0.00 187.50 0.00 2,812.50 6.25 CONTRACTUAL SERVICES 5611-56030 INCENTIVES 1,175,281.00 32,000.00 0.00 434,122.00 0.00 741,159.00 36.94 5611-56040 SPECIAL SERVICES 127,600.00 7,210.37 0.00 59,531.49 2,479.00 65,589.51 48.60 5611-56080 ADVERTISING 144,700.00 6,295.00 0.00 13,016.00 300.00 131,384.00 9.20 5611-56090 COMMUNITY DEVELOPMENT 52,000.00 3,130.00 0.00 11,733.36 1,750.00 38,516.64 25.93 5611-56110 COMMUNICATIONS 9,350.00 463.38 0.00 2,271.78 113.97 6,964.25 25.52 5611-56180 RENTAL 29,328.00 2,453.42 0.00 14,479.42 0,00 14,848.58 49.37 5611-56210 TRAVEL & TRAINING 36,000.00 1,425.30 0.00 6,906.35 0.00 29,093.65 19.1E 5611-56250 DUES & SUBSCRIPTIONS 19,560.00 687.86 0.00 5,779.44 0.00 13,780.56 29.55 5611-56310 INSURANCE 4,310.00 0.00 0.00 2,898.10 303.00 1,108.90 74.27 5611-56510 AUDIT & LEGAL SERVICES 23,000.00 5,419.50 0.00 14,219.50 840.00 7,940.50 65.48 5611-56570 ENGINEERING/ARCHITECTURAL 20,000.00 3,343.30 0.00 13,217.60 9,645.70 ( 2,863.30) 114.32 5611-56610 UTILITIES-ELECTRIC 2,400.00 0.00 0.00 555.48 145.74 1,698.78 29.22 TOTAL CONTRACTUAL SERVICES 1,643,529.00 62,428.13 0.00 578,730.52 15,577.41 1,049,221.07 36.16 3-16-2017 01:44 PM CITY OF WYLIE PAGE: 4 REVENUE AND EXPENSE REPORT - (UNAUDITED) AS OF: FEBRUARY 28TH, 2017 111-WYLIE ECONOMIC DEVEL CORP DEVELOPMENT CORP-WEDC DEPARTMENTAL EXPENDITURES CURRENT CURRENT PRIOR YEAR Y-T-D Y-T-D BUDGET % OF BUDGET PERIOD PO ADJUST. ACTUAL ENCUMBRANCE BALANCE BUDGET DEBT SERVICE & CAP. REPL 5611-57110 DEBT SERVICE 1,910,906.00 0.00 0.00 0.00 0.00 1,910,906.00 0.00 5611-57410 PRINCIPAL PAYMENT 0.00 54,919.51 0.00 267,459.36 0.00 ! 267,459.36) 0.00 5611-57415 INTEREST EXPENSE 0.00 18,972.92 0.00 78,675.34 0.00 ; 78,675.34) 0.00 5611-57710 BAD DEBT EXPENSE 0.00 0.00 0.00 0.00 0.00 0.00 0.00 TOTAL DEBT SERVICE & CAP. REPL 1,910,906.00 73,892.43 0.00 346,134.70 0.00 1,564,771.30 18.11 CAPITAL OUTLAY 5611-58110 LAND-PURCHASE PRICE 128,866.00 0.00 0.00 2,482,573.30 0.00 ( 2, :5,.,'I0 .10) 926.48 5611-58120 DEVELOPMENT FEES 0.00 0.00 0.00 0.00 0.00 0.00 0.00 5611-58150 LAND-BETTERMENTS 0.00 0.00 0.00 0.00 0.(10 G_,On 0.00 5611-58210 STREETS & ALLEYS 391,300.00 37,400.00 0.00 37,400.00 0.0([ ""t 3,900.00 9.56 5611-58410 SANITARY SEWER 0.00 0.00 0.00 0.00 0.00 0,00 0.00 5611-58810 COMPUTER HARD/SOFTWARE 5,000.00 0.00 0.00 0.00 0.n0 `,,1inG.pn 0.00 5611-58830 FURNITURE & FIXTURES 2,500.00 0.00 0.00 0.00 0.00 2,50(:.00 0.00 5611-58910 BUILDINGS 0.00 0.00 0.00 0.00 0.00 C.00 0.00 5611-58995 CONTRA CAPITAL OUTLAY 0.00 0.00 0.00 ( 2,482,573.30} 0.00 2,462,`:+i.iG 0.00 TOTAL CAPITAL OUTLAY 527,666.00 37,400.00 0.00 37,400.00 0.00 490,266.00 7.09 OTHER FINANCING (USES) 5611-59111 TRANSFER TO GENERAL FUND 0.00 0.00 0.00 0.00 0.00 0.00 0.00 5611-59190 TRANSFER TO THORUGHFARE IMP 0.00 0.00 0.00 0.00 0.00 0.00 0.00 5611-59430 TRANSFER TO CAPITAL PROJ FU 0.00 0.00 0.00 0.00 0.00 0.00 0.00 5611-59990 PROJECT ACCOUNTING 0,00 0.00 0.00 0.00 0.00 0.00 0.00 TOTAL OTHER FINANCING (USES) 0.00 0.00 0.00 0.00 0.00 0.00 0.00 TOTAL DEVELOPMENT CORP-WEDC 4,484,297.00 204,050.53 0.00 1,110,200.79 15,577.41 3,350,518.80 25.28 TOTAL EXPENDITURES 4,484,297.00 204,050.53 0.00 1,118,200.79 15,577.41 3,350,518.80 25.28 REVENUE OVER (UNDER) EXPENDITURES ( 465,686.00) 55,349.68 0.00 1,870,569.14 ( 15,577.41) ( 2,320,677.73) 398.34- *** END OF REPORT *** 3-16-2017 1:46 PM DETAIL LISTING PAGE: 1 FUND : 111-WYLIE ECONOMIC DEVEL CORP PERIOD TO USE: Feb-2017 THRU Feb-2017 DEPT : 611 DEVELOPMENT CORP-WEDC ACCOUNTS: 5611-52010 THRU 5611-58910 POST DATE TRAN # REFERENCE PACKET DESCRIPTION VEND INV/JE # NOTE AMOUNT---- ====BALANCE==== 5611-52010 OFFICE SUPPLIES BEGINNING BALANCE 311.86 2/09/17 2/09 A79192 CHK: 087452 88073 PAPER, NOTES, FLDRS, 000392 25652 WEDC 154.65 466.51 2/09/17 2/09 A79193 CHK: 087452 88073 PRINTING - TABS 000392 39987 WEDC 135.00 601.51 2/20/17 3/16 B55793 15558 JE26023 RECLASS JE# 026023 275.00 876.51 2/20/17 2/20 A80139 DFT: 000303 88363 PRESENTATION POINTER 000912 8277 FEB17 WYGANT 6.88 883.39 2/20/17 2/20 A80139 DFT: 000303 88363 WIRELESS SLIDE ADV 000912 8277 FEB17 WYGANT 37.83 921.22 2/20/17 2/20 A80139 DFT: 000303 88363 FLYER HOLDER 000912 8277 FEB17 WYGANT 39.98 961.20 2/20/17 2/20 A80139 DFT: 000303 88363 HVY BOOK PAPER 000912 8277 FEB17 WYGANT 39.98 1,001.18 2/20/17 2/20 A80139 DFT: 000303 88363 HVY BOOK PAPER 000912 8277 FEB17 WYGANT 13.99 1,015.17 2/20/17 2/20 A80139 DFT: 000303 88363 HVY BOOK PAPER 000912 8277 FEB17 WYGANT 6.74 1,021.91 - FEBRUARY ACTIVITY DB: 710.05 CR: 0.00 710.05 5611-52040 POSTAGE & FREIGHT BEGINNING BALANCE 9.40 2/20/17 2/20 A80139 DFT: 000303 88363 POSTAGE B&B 000912 8277 FEB17 WYGANT 7.49 16.89 ---- - - FEBRUARY ACTIVITY DB: 7.49 CR: 0.00 7.49 5611-52130 TOOLS/ EQUIP (NON-CAPITAL) BEGINNING BALANCE 0.00 5611-52160 TOOLS/ EQUIP - $100-$999.99 BEGINNING BALANCE 0.00 5611-52810 FOOD SUPPLIES BEGINNING BALANCE 183.88 2/20/17 2/20 A80139 DFT: 000303 88363 WEDC BOARD MTG MEAL 000912 8277 FEB17 WYGANT 17.12 201.00 2/20/17 2/20 A80139 DFT: 000303 88363 WEDC BAD MTG MEAL 000912 8277 FEB17 WYGANT 6.88 207.88 2/20/17 2/20 A80139 DFT: 000303 88363 WEDC BAD MTG MEAL 000912 8277 FEB17 WYGANT 19.96 227.84 2/20/17 2/20 A80139 DFT: 000303 88363 WDMA MTG. MEAL 000912 8277 FEB17 WYGANT 25.95 253.79 2/20/17 2/20 A80139 DFT: 000303 88363 WEDC BAD MTG MEAL 000912 8277 FEB17 WYGANT 9.95 263.74 2/20/17 2/20 A80139 DFT: 000303 88363 LEADER WYLIE MEAL 000912 8277 FEB17 WYGANT 198.40 462.14 2/20/17 2/20 A80139 DFT: 000303 88363 WDMA MTG MEAL 000912 8277 FEB17 WYGANT 9.99 472.13 2/20/17 2/20 A80139 DFT: 000303 88363 WEDC BAD MTG MEAL 000912 8277 FEB17 WYGANT 9.95 482.08 ,,-,-,-,,,-,=== FEBRUARY ACTIVITY DB: 298.20 CR: 0.00 298.20 3-16-2017 1:46 PM DETAIL LISTING PAGE: 2 FUND : 111-WYLIE ECONOMIC DEVEL CORP PERIOD TO USE: Feb-2017 THRU Feb-2017 DEPT : 611 DEVELOPMENT CORP-WEDC ACCOUNTS: 5611-52010 THRU 5611-58910 POST DATE TRAN # REFERENCE PACKET DESCRIPTION VEND INV/JE # NOTE AMOUNT==== ====BALANCE==== 5611-52990 OTHER BEGINNING BALANCE 0.00 5611-54630 TOOLS & EQUIPMENT BEGINNING BALANCE 0.00 5611-54810 COMPUTER HARD/SOFTWARE BEGINNING BALANCE 187.50 5611-54990 OTHER BEGINNING BALANCE 0.00 5611-56030 INCENTIVES BEGINNING BALANCE 402,122.00 2/21/17 2/21 A80260 CHK: 087689 88395 ASCEND 2 - INCENT 4/4 003424 PAY #4 022017 24,000.00 426,122.00 2/24/17 2/24 A80499 CHK: 087759 88461 SNIDER INCENT. 1/2 002920 #1 INCENTIVE 8,000.00 434,122.00 - - FEBRUARY ACTIVITY DB: 32,000.00 CR: 0.00 32,000.00 5611-56040 SPECIAL SERVICES BEGINNING BALANCE 52,321.12 2/02/17 2/02 A78477 CHK: 087287 87833 TCEQ DEC 16 001320 VCP0040136 115.00 52,436.12 2/02/17 2/02 A78490 CHK: 087283 87833 CLARITAS REPORT 004573 2530076 288.00 52,724.12 2/02/17 2/02 A78531 CHK: 087294 87840 JANITORIAL SVC - JAN 17 002330 40519 WEDC 157.50 52,881.62 2/09/17 2/09 A79170 CHK: 087444 88067 605 COMM-APAR/DWS 004337 23463 WEDC 173.75 53,055.37 2/09/17 2/09 A79170 CHK: 087444 88067 605 COMM-MSD 004337 23463 WEDC 2,357.37 55,412.74 2/09/17 2/09 A79194 CHK: 087449 88073 605 COMM. VCP - JAN 17 001320 VCP0040299 JAN17 661.25 56,073.99 2/10/17 2/10 A79283 CHK: 087456 88097 JANITORIAL - FEB 17 002330 40827 157.50 56,231.49 2/14/17 2/14 A79603 CHK: 087545 88192 UTIL PERMIT FEE-KCS ROW 003557 021417 2,000.00 58,231.49 2/22/17 2/22 A80332 CHK: 087718 88420 900 KIRBY AIR MONITORING 001026 17008 WEDC 1,300.00 59,531.49 -- =+-r FEBRUARY ACTIVITY DB: 7,210.37 CR: 0.00 7,210.37 5611-56080 ADVERTISING BEGINNING BALANCE 6,721.00 2/02/17 2/02 A78525 CHK: 087300 87840 CONNECTION AD NOV 000468 7999 NOV 1,500.00 8,221.00 2/09/17 2/09 A79190 CHK: 087450 88073 NEWS AD - HOLIDAY 000391 13329 WEDC 240.00 8,461.00 2/09/17 2/09 A79191 CHK: 087450 88073 IN & ARND - JAN 000391 13387 WEDC 1,555.00 10,016.00 2/10/17 2/10 A79278 CHK: 087462 88097 CMBR BANNER AD 000468 8038 WEDC 1,500.00 11,516.00 3-16-2017 1:46 PM DETAIL LISTING PAGE: 3 FUND : 111-WYLIE ECONOMIC DEVEL CORP PERIOD TO USE: Feb-2017 THRU Feb-2017 DEPT : 611 DEVELOPMENT CORP-WEDC ACCOUNTS: 5611-52010 THRU 5611-58910 POST DATE TRAN # REFERENCE PACKET DESCRIPTION VEND INV/JE # NOTE AMOUNT==== ===-BALANCE-- 2/10/17 2/10 A79279 CHK: 087462 88097 CONNECTION AD-FEB/MAR 000468 8087 WEDC 1,500.00 13,016.00 FEBRUARY ACTIVITY DB: 6,295.00 CR: 0.00 6,295.00 5611-56090 COMMUNITY DEVELOPMENT BEGINNING BALANCE 8,603.36 2/02/17 2/02 A78524 CHK: 087299 87840 LUNCHEON NOV16 000468 7999 80.00 8,683.36 2/09/17 2/09 A79189 CHK: 087451 88073 PLANT-DOROTHY HEATH HOSP 000386 6567 WEDC 50.00 8,733.36 2/09/17 2/09 A79195 CHK: 087448 88073 ROTARY FLAG PROGRAM 001420 012617 WEDC 3,000.00 11,733.36 -- --- -- FEBRUARY ACTIVITY DB: 3,130.00 CR: 0.00 3,130.00 5611-56110 COMMUNICATIONS BEGINNING BALANCE 1,808.40 2/09/17 2/09 A79202 CHK: 087445 88073 INTERNT WEDC JAN25-FEB2 004568 21015779891 JA25-F 195.01 2,003.41 2/20/17 2/20 A80093 DFT: 000303 88356 RENEW-MS OFFICE 365 000912 8277 FEB17 GREINER 108.24 2,111.65 2/20/17 2/20 A80131 DFT: 000303 88362 TELEPHONE SVC 000912 8277 FEB17 SATTER 160.13 2,271.78 _-__-_______= FEBRUARY ACTIVITY DB: 463.38 CR: o.ob 463.38 5611-56180 RENTAL BEGINNING B A LAN C E 12,026.00 2/09/17 2/09 A79169 CHK: 087438 88067 COPIER RENTAL JAN28-FEB2 003509 97240 WEDC 203.42 12,229.42 2/22/17 2/22 A80349 CHK: 087720 88420 RENT - MARCH 17 003231 021717 MAR17 2,250.00 14,479.42 ---------- FEBRUARY ACTIVITY DB: 2,453.42 CR: 0.00 2,453.42 5611-56210 TRAVEL & TRAINING BEGINNING BALANCE 5,481.05 2/20/17 3/16 B55793 15558 JE26023 RECLASS JE# 026023 275.00CR 5,206.05 2/20/17 2/20 A80093 DFT: 000303 88356 FRANCISE EXPO-GREINE 000912 8277 FEB17 GREINER 10.00 5,216.05 2/20/17 2/20 A80093 DFT: 000303 88356 BRE-GREIN/HAMBLETON 000912 8277 FEB17 GREINER 22.30 5,238.35 2/20/17 2/20 A80131 DFT: 000303 88362 RETAIL FOR. REG-SATT 000912 8277 FEB17 SATTER 80.00 5,318.35 2/20/17 2/20 A80131 DFT: 000303 88362 BUS. MTG-MCCLURE 000912 8277 FEB17 SATTER 41.71 5,360.06 2/20/17 2/20 A80131 DFT: 000303 88362 BUS. MTG 000912 8277 FEB17 SATTER 126.25 5,486.31 2/20/17 2/20 A80131 DFT: 000303 88362 BUS. MTG-TOBIA/RUSS 000912 8277 FEB17 SATTER 22.65 5,508.96 2/20/17 2/20 A80131 DFT: 000303 88362 BUS. MTG-HULLET/PACE 000912 8277 FEB17 SATTER 30.93 5,539.89 2/20/17 2/20 A80131 DFT: 000303 88362 ICSC MEAL-BROK/SATT 000912 8277 FEB17 SATTER 14.50 5,554.39 2/20/17 2/20 A80131 DFT: 000303 88362 BUS MTG-FALCON REAL 000912 8277 FEB17 SATTER 78.01 5,632.40 2/20/17 2/20 A80139 DFT: 000303 88363 TX RET - GREIN/BROKA 000912 8277 FEB17 WYGANT 130.00 5,762.40 2/20/17 2/20 A80139 DFT: 000303 88363 WYLIE DAYS COVERS 000912 8277 FEB17 WYGANT 275.00 6,037.40 3-16-2017 1:46 PM DETAIL LISTING PAGE: 4 FUND : 111-WYLIE ECONOMIC DEVEL CORP PERIOD TO USE: Feb-2017 THRU Feb-2017 DEPT : 611 DEVELOPMENT CORP-WEDC ACCOUNTS: 5611-52010 THRU 5611-58910 POST DATE TRAN # REFERENCE PACKET DESCRIPTION VEND INV/JE # NOTE AMOUNT---- ====BALANCE==== 2/20/17 2/20 A80139 DFT: 000303 88363 AIR - WY DAYS-BROKAW 000912 8277 FEB17 WYGANT 230.40 6,267.80 2/20/17 2/20 A80139 DFT: 000303 88363 AIR-WYL DAYS-GREINER 000912 8277 FEB17 WYGANT 193.40 6,461.20 2/20/17 2/20 A80139 DFT: 000303 88363 AIR WYL DAYS-FULLER 000912 8277 FEB17 WYGANT 177.88 6,639.08 2/22/17 2/22 A80306 CHK: 087705 88410 020717 PARKING 000317 020717 PARKING 20.00 6,659.08 2/22/17 2/22 A80316 CHK: 087709 68414 022117 MILEAGE 000317 022117 MILEAGE 182.97 6,642.05 2/22/17 2/22 A80317 CHK: 087708 88414 022117 TAXI 001482 022117 TAXI 64.30 6,906.35 --- - - -- FEBRUARY ACTIVITY DB: 1,700.30 CR: 275.00CR 1,425.30 5611-56220 PROFESSIONAL TRAINING BEGINNING BALANCE 0.00 5611-56250 DUES & SUBSCRIPTIONS BEGINNING BALANCE 5,091.58 2/20/17 2/20 A80131 DFT: 000303 88362 CLUB CORP DUES 000912 8277 FEB17 SATTER 637.86 5,729.44 2/20/17 2/20 A80139 DFT: 000303 88363 ICSC MEMBSHP-BROKAW 000912 8277 FEB17 WYGANT 50.00 5,779.44 _- -- --- FEBRUARY ACTIVITY DB: 687.86 CR: 0.00 687.86 5611-56310 INSURANCE BEGINNING BALANCE 2,898.10 5611-56510 AUDIT & LEGAL SERVICES BEGINNING BALANCE 8,800.00 2/02/17 2/02 A78519 CHK: 087288 87840 ATY-FEES-DAL.WHIRL 000023 2793-0072M 7 WEDC 1,420.00 10,220.00 2/02/17 2/02 A78520 CHK: 087288 87840 ATTY FEES-JARRARD 000023 2793-0073M 3 WEDC 2,499.50 12,719.50 2/02/17 2/02 A78521 CHK: 087288 87840 ATTY FEES- REVA HOSP 000023 2793-0074M 1 WEDC 620.00 13,339.50 2/09/17 2/09 A79160 CHK: 087437 88067 ATTY FEES - CFA 000023 12 2793-0071M WEDC 880.00 14,219.50 ---- FEBRUARY ACTIVITY DB: 5,419.50 CR: 0.00 5,419.50 5611-56570 ENGINEERING/ARCHITECTURAL BEGINNING BALANCE 9,874.30 2/09/17 2/09 A79187 CHK: 087446 88073 ENG SVC-HWY 78 DECEL 000196 1616C WEDC 1,800.00 11,674.30 2/09/17 2/09 A79188 CHK: 087446 88073 CONCEPT PL-544 & COMM 000196 1616D WEDC 1,543.30 13,217.60 - FEBRUARY ACTIVITY DB: 3,343.30 CR: 0.00 3,343.30 3-16-2017 1:46 PM DETAIL LISTING PAGE: 5 FUND : 111-WYLIE ECONOMIC DEVEL CORP PERIOD TO USE: Feb-2017 THRU Feb-2017 DEPT : 611 DEVELOPMENT CORP-WEDC ACCOUNTS: 5611-52010 THRU 5611-58910 POST DATE TRAN # REFERENCE PACKET DESCRIPTION VEND INV/JE # NOTE AMOUNT---- ====BALANCE==== 5611-56610 UTILITIES-ELECTRIC BEGINNING B A LAN C E 555.48 5611-57110 DEBT SERVICE BEGINNING BALANCE 0.00 5611-57410 PRINCIPAL PAYMENT BEGINNING BALANCE 212,539.85 2/02/17 2/07 B55335 Bnk Dft 020217 15422 JE25776 K&M PMT #17 JE# 025776 7,861.85 220,401.70 2/10/17 2/13 B55410 Bnk Dft 021017 15448 JE25836 PEDDICORD/WHITE PMT#26 JE# 025836 5,297.24 225,698.94 2/15/17 2/20 B55478 Bnk Dft 021517 15458 JE25849 WB PKWY PMT #30 JE# 025849 11,821.10 237,520.04 2/22/17 2/21 B55528 Bnk Dft 022217 15480 JE25891 BUCHANAN PMT #30 JE# 025891 6,652.56 244,172.60 2/22/17 2/21 B55529 Bnk Dft 022217 15480 JE25892 JARRARD PROPERTY #2 JE# 025892 1,991.59 246,164.19 2/23/17 2/21 B55530 Bnk Oft 022317 15481 JE25893 EDGE PMT #8 JE# 025893 11,532.06 257,696.25 2/28/17 3/01 B55604 Bnk Dft 022817 15509 JE25939 HUGHES/RANDACK PMT#51 JE# 025939 9,763.11 267,459.36 FEBRUARY ACTIVITY DB: 54,919.51 CR: 0.00 54,919.51 5611-57415 INTEREST EXPENSE BEGINNING BALANCE 59,702.42 2/02/17 2/07 B55335 Bnk Dft 020217 15422 JE25776 K&M PMT #17 JE# 025776 883.40 60,585.82 2/10/17 2/13 B55410 Bnk Dft 021017 15448 JE25836 PEDDICORD/WHITE PMT#26 JE# 025836 2,085.21 62,671.03 2/15/17 2/20 B55478 Bnk Dft 021517 15458 JE25849 WB PKWY PMT #30 JE# 025849 1,446.83 64,117.86 2/22/17 2/21 B55527 Bnk Dft 022217 15480 JE25890 DALLAS WHIRLPOOL PMT#3 JE# 025890 6,888.89 71,006.75 2/22/17 2/21 B55528 Bnk Oft 022217 15480 JE25891 BUCHANAN PMT #30 JE# 025891 679.39 71,686.14 2/22/17 2/21 B55529 Bnk Dft 022217 15480 JE25892 JARRARD PROPERTY #2 JE# 025892 1,117.56 72,803.70 2/23/17 2/21 B55530 Bnk Dft 022317 15481 JE25893 EDGE PMT #8 JE# 025893 5,527.75 78,331.45 2/28/17 3/01 B55604 Bnk Dft 022817 15509 JE25939 HUGHES/RANDACK PMT#51 JE# 025939 343.89 78,675.34 FEBRUARY ACTIVITY DB: 18,972.92 CR: 0.00 18,972.92 5611-57710 BAD DEBT EXPENSE BEGINNING BALANCE 0.00 5611-58110 LAND-PURCHASE PRICE BEGINNING BALANCE 2,482,573.30 5611-58120 DEVELOPMENT FEES BEGINNING BALANCE 0.00 1- -20 .7 1:41) PM DETAr I. IT :'. T7: 74 PA;; : 6 111-NYLIE ECON%-)MIC REVEL CORP PERIOD TO USE: Feb-20I- T:IRU Feh-2017 DEPT : 611 DEVELC,PMENT cP-WEDir AcOUNTS: 5611-32M0 TNRU 5F-,1I0 POST DATE TRAM 4 F.EPERENCE PACXET------DFSIPTToN---e- VEND NV,,,TP: O NOTE ---AOUNT-- --BNCF--- 5611- 810 LAN -BETTEMENTS D. F. 4] INKINF.3 ',3ALAHL1. 0.G0 5im,ll-510 STREETS itFG : UN [ Ni.; RALANC Z a.P,,mi 2/24/ 2/24 A20,,00 :ii..:: '00,1 qp46l coN;;TRuTIoN cONTPACT no;,,C, 02211 1 ,400.00 " 4 1,1,4),..) F-,-.WRUARY ALT:V1'2V DR: 17,43 .03 CR; :...on `,621- 41:1 :;ANTTARY :5EWER REC; 1- NNTNG T... ALAECE 0.00 M,:1-581310 1MP1JTER U.RD/SOFTWARE BF. t] INNING 0 .01 .011 ; V,:!- ASIi0 FURNITURE i FIXTURE:; Fi. F. (IINNING F3A1. AVuE 0, 0 ()11-- 1010 FWILDINC,S ':-. C I N N 1 N C; 8ALANCE O_DO 000 lu.RoRs IN TITS REPORT) mm REPORT TnTALF, mm --- r2rTilTs --- --- CRZ,,PTTS --- 11EC:INN;NG P,AIA1lCE5:: -.1.2./1,516.60 0.00 REPORTED ACTIVITY; 0 ,0 [.00 2; .00CP ENDI.NG BALANCEE: .j.446,F21,90 21H00,3F TOTAL FUND P.NbTM[; nATANCE: 3',441],546.90 Wylie Economic Development Corporation Balance Sheet Sub Ledger February 28, 2017 Notes Payable Date of Rate of Principal Purchase Payment Beginning Bal. Principal Interest Interest Balance February 1, 2017 5,724,067.23 ANBTX-88130968 HUGHES/RANDACK(#51 of 60) 10/23/12 10,107.00 100,004.85 9,763.11 343.89 3.99 90,241.74 ANBTX-88130976 WOODBRIDGE PKWY (#30 of 60) 8/15/14 13,267.93 644,198.99 11,821.10 1,446.83 2.61 632,377.89 ANBTX-88148481 BUCHANAN(#30 of 60) 8/13/14 7,331.95 216,249.99 6,652.56 679.39 3.77 209,597.43 ANBTX-88149711 PEDDICORD/WHITE(#26 OF 120 12/12/14 7,382.45 595,774.35 5,297.24 2,085.21 4.20 590,477.11 ANBTX-88158043 K&M/HOBART(#17 of 48) 9/2/15 8,745.25 265,021.49 7,861.85 883.40 4.00 257,159.64 ANBTX-88157334 LINDUFF/EDGE(#8 of 15) 10/21/15 17,059.81 1,604,801.71 11,532.06 5,527.75 4.00 1,593,269.65 ANBTX-88158357 DALLAS WHIRLPOOL(#3of 60) 11/22/16 6,888.89 2,000,000.00 0.00 6,888.89 4.00 2,000,000.00 JARRARD GRAYS AUTO(#2 OF 120) 12/1/16 3,109.15 298,015.85 1,991.59 1,117.56 4.50 296,024.26 February 28, 2017 $54,919.51 $18,972.92 5,669,147.72 Wylie Economic Development Corporation Inventory Subledger February 28, 2017 Inventory-Land Date of Pur. Address Acreage Improvements Cost Basis Sub-totals Cooper McMasters 7/12/05 709 Cooper 0.48 n/a $202,045 Heath 12/28/05 706 Cooper 0.46 $32,005 3,625 186,934 Perry 9/13/06 707 Cooper 0.49 Demo 200,224 Bowland/Anderson 10/9/07 Cooper Dr. 0.37 n/a 106,419 KCS 8/1/08 Cooper Dr. 0.41 n/a 60,208 Duel Products 9/7/12 704 Cooper Dr. 0.50 n/a 127,452 Randack 10/23/12 711-713 Cooper Dr_ 1.09 217,500 8,880 400,334 Lot 2R3 7/24/14 Cooper Dr. 0.95 n/a 29,056 $1,312,672 Industrial Ct. Hughes 7/25/06 211 -212 Industrial 0.74 Demo 420,361 R.O.W. 0.18 41,585 Prime Kuts 10/8/07 207 Industrial 0.20 Demo 229,284 R.O.W. 0.11 n/a 77,380 Cazad 3/17/08 210 Industrial 0.27 Demo 200,782 . Buchanan 8/13/14 400 S. Hwy 78 1.25 Demo 503,233 Glenn 4/24/15 209 Industrial Ct 0.18 Demo 326,773 R.O.W. 0.12 n/a Mann Made 2/10/16 398 S. Hwy 78 1.23 Demo 750,244 C.O.W 4/13/16 R.O.W. 0.29 n/a 52,653 Jarrard 12/22/16 201 Industrial Ct 0.29 32,893 3,900 300,493 2,902,788 Regency Regency Pk. 6/4/10 25 Steel Road 0.65 n/a 25,171 25.171 Commerce Hobart Investments 11/12/13 Commerce 1.60 n/a 156,820 Hobart 1/6/14 605 Commerce 1.07 396,263 20,000 386,380 Dallas Whirlpools 11/22/16 900-908 Kirby 4.79 2,182,080 2,725,280 Downtown Heath 3/17/14 104 N. Jackson 0.17 Demo 220,034 Udoh 2/12/14 109 Marble 0.17 n/a 70,330 Peddicord 12/12/14 108/110 Jackson 0.35 155,984 4,444 486,032 City Lot 12/12/14 100 W. Oak St 0.35 n/a Jones (K&M) 9/3/15 106 N. Birmingham 0.21 42,314 4,125 190,596 FBC Lot 6/15/16 111 N. Ballard St 0.20 na 150,964 1,117,956 Alanis White Property (Alanis) 12/12/14 Alanis 6.63 n/a 420,336 420,336 South Ballard Birmingham Trust 6/3/15 505 -607 S. Ballard 1.12 Demo 409,390 409,390 • Total 26.90 $876,959 44,974 $8,913,593 $8,913,593 • *A Journal entry was made by auditors to adjust the cost of the Hughes land by$4,638.79. This amount was for taxes owed and not part of land value. *Prime Kuts total purchase price was$306,664.45. The distribution between 207 Industrial and R.O.W. purchased was developed by Seller for tax purposes. WEDC EXECUTIVE DIRECTOR J P MorganChase Expense Report January 2017 DATE PAYEE AMOUNT BUSINESS PURPOSE INDIVIDUAL/GROUPS PRESENT 02/02/17 Cytracom 160.13 Telephone Service NA 01/14/17 Club Corp 637.86 Dues December Dues 12/09/16 Club Corp 41.71 Business Meeting Satterwhite, McClure 12/21/16 Club Corp 126.25 Business Meeting Satterwhite& Prospects 01/19/17 La Joya 22.65 Business Meeting Satterwhite, Tobias, Russell 01/23/17 _La Joya 30.93 Business Meeting Satterwhite, Hullett, Pace 01/24/17 Whataburger 14.50 ICSC Retail Satterwhite, Brokaw 01/24/17 ICSC 80.00 Retail Forecast- Registration Satterwhite 01/31/17 Pappadeaux 78.01 Business Meeting Satterwhite, Falcon Realty TOTAL 1,192.04 WEDC Assistant Director JPMorgan Chase Expense Report January 2017 DATE VENDOR PURPOSE AMOUNT 1/6/17 Franchise Expo South Registration Fee-Greiner 10.00 2/5/17 Microsoft Office 365 108.24 1/19/17 Grand China Buffet BRE-Greiner, Hambelton 22.30 Total 140.54 WEDC Senior Assistant JPMorgan Chase Expense Report January 2017 DATE VENDOR PURPOSE AMOUNT 1/8/17 Kroger WEDC Board Meeting Meal 17.12 1/7/17 Walmart WEDC Board Meeting Meal 6.88. 1/7/00 McDonalds WEDC Board Meeting Meal 9.95 1/10/17 ICSC Membership- Brokaw 50.00 1/10/17 ICSC Retail Forecast Registration -Greiner, Brokaw 130.00 1/11/17 American Airlines Wylie Days-Air-Greiner 193.40 1/11/17 American Airlines Wylie Days-Air- Brokaw 230.40 1/11/17 Walmart Presentation pointer 6.88 1/13/17 Woodbridge Golf Club Leadership Wylie Lunch 198.40 1/13/17 USPS Postage- B&B Incentive 7.49 1/12/17 Amazon Wireless Slide Advance 37.83 1/17/17 Donut Palace WDMA Meeting 9.99 1/19/17 Kroger WEDC Board Meeting Meal 19.96. 1/20/17 Walmart WEDC Board Meeting Meal 9.95 1/23/17 Southwest Air Wylie Days-Air- Fuller 177.88 1/25/17 Kroger WDMA Meeting 25.95 1/31/17 _,Amazon Brochure Display Rack 39.98 2/1/17 Dallas Letterpress Wylie Days Covers 275.00 2/2/17 Office Max Hvy Book Paper 39.98 2/2/17 Office Max Hvy Book Paper 13.99 2/2/17 Walmart Hvy Book Paper 6.74 Total 1,507.77 WYLIE ECONOMIC DEVELOPMENT CORPORATION SALES TAX REVENUE FOR THE MONTH OF MARCH 2017 MONTH WEDC WEDC WEDC DIFF % DIFF 2015 2016 2017 16 VS 17 16 VS 17 DECEMBER $154,719 $166,418 $197,808 $31,389 18.86% JANUARY 156,685 163,463 196,347 32,884 20.12% FEBRUARY 241,858 260,166 276,698 16,532 6.35% MARCH 171,741 167,082 191,648 24,566 14.70% APRIL 134,475 154,920 MAY 211,645 238,646 JUNE 161,426 180,194 JULY 159,973 212,620 AUGUST 216,962 268,976 SEPTEMBER 195,347 197,339 OCTOBER 160,876 201,506 NOVEMBER 226,078 270,426 Sub-Total $2,191,785 $2,481,757 $862,501 $105,371 13.92% AUDIT ADJ TOTAL $2,191,785 $2,481,757 $862,501 $105,371 13.92% WEDC SALES TAX ANALYSIS $300,000 $250,000 - - $200,000 - - -- - - - :::::: 01fiQ01]- 11- $50,000 - $0 i 1 ! F ' I + t f E I i - ` m c t > 2 m Q 2 4 rn E o 8 (73 _o 2 Q a) t a)C L a O 2 a, WEDC Leasehold Subledger Tenant Address Amount Due Dec-16 Jan-17 Feb-17 Mar-17 Apr-17 May-17 Jun-17 Helical Concepts 1st 710-711 Cooper $400 11/29/16 12/22/16 1/25/17 2/27/171 Wheels Unlimited 15th W605 Comm-Ste 201 $1,400 12/22/16 1/19/17 2/14/17 3/13/17 Trimark Catastrophe 15th 605 Comm-Ste 204 $1,000 12/7/16 2/1/17 2/23/17 3/1/17 ,_ Dennis Richmond 1st Steel Rd $500 12/14/16 1/10/17 2/20/17 3/6/17 half Austin/Said LLC 1st 605 Commerce $2,000 12/27/16 1&Half 2/13/17 3/17/17 •Austin/Said LLC 1st 106 N. Birmingham $1,000 12/27/2016 2/13/2017 3/17/17 DCU 1st 900 Kirby $3,400 1/10/2017 1/6/2017 1/27/17 2/23/17 Auto Hail 1st 908 Kirby $3,000 12/9/2016 Out 4/30 Delta-E 1st 201 Industrial Ct $800 1/6/2017 1/25/17 2/23/17 Wylie Economic Development Corporation MEMORANDUM TO: WEDC Board of Directors FROM: Samuel Satterwhite, Executive Director SUBJECT: Performance Agreement DATE: March 19, 2017 Issue (Remove from Table) Consider and act upon a Performance Agreement between the WEDC and SAF-Holland USA. Analysis As directed in Executive Session, WEDC counsel has drafted a Performance Agreement between the WEDC and SAF Holland USA (Holland). In closing down two manufacturing plants in Michigan, Holland approached the WEDC in 2016 to determine fmancial incentives available to support the relocation of manufacturing lines from the Michigan operations along with additional investment to support said lines and approximately 51 new jobs with average annual wages of $41,000. The value of the new equipment along with additional capital investment in personal property is estimated at$4.67 mm. The economic incentive over the next four years to Holland is based upon new jobs created and new personal property value. For each new full-time job created Holland will receive $1,000.00 up to a maximum $45,000 per year (Employee Incentive). With 133 jobs as the minimum Employee Threshold, Holland must have a total of 178 full-time employees on December 31' of 2017, 2018, and 2019 to receive the maximum Employee Incentive annually. Should Holland fall below 133 full-time employees,the Agreement will be considered null and void. Holland currently has$14,375,324 in personal property value in Wylie(minimum Tax Threshold). For all personal property value over and above the Tax Threshold,Holland will be paid an amount equal to 50%of the taxes paid on the combined City of Wylie tax rate(0.8489)and the WISD I&S tax rate(0.47) (the Tax Incentive). The personal property value eligible for the Tax Incentive, and subsequent property taxes paid on the same, will be determined by the Collin County Central Appraisal District on January 1, 2018, January 1, 2019, and January 1 2020. Should personal property value fall below the minimum Tax Threshold,the Agreement will be considered null and void. Should Holland have no less than 178 full time employees in each year eligible for an Employee Incentive and personal property valued at no less than $19,045,324, the cumulative Economic Assistance could be valued at $227,389. WEDC—SAF Holland USA March 19, 2017 Page 2 of 2 Mr. Jason Greiner has been working with Impact Data Source which develops economic models to evaluate the cost-benefit to a community providing incentives to new or expanding companies. Mr. Greiner and Impact Data Source are finalizing that analysis and will provide a full oral and written report at the Board Meeting. Recommendation Staff recommends that the WEDC Board of Directors approve a Performance Agreement between the WEDC and SAF Holland USA. Attachment Performance Agreement Performance Agreement between Wylie Economic Development Corporation and SAF-Holland USA, Inc. This PERFORMANCE AGREEMENT(the "Agreement")is entered into as of the_day of , 2017, by and between the Wylie Economic Development Corporation, a Texas corporation ("WEDC") and SAF-Holland, Inc., a Michigan corporation ("Company"). RECITALS: WHEREAS, Company owns acres of property, more or less, situated in the City of Wylie, Texas,which real property is more particularly described in Exhibit A, attached hereto and incorporated herein by this reference (the "Property"); WHEREAS, Company intends to add taxable personal property and employees at the Property; WHEREAS,Company has requested that the WEDC provide economic assistance to offset the cost of purchasing additional equipment and hiring additional employees for the business operated at the Property; 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: 1. Project Subject of Agreement. Company is commencing a project to increase the amount and value of equipment located on the Property and to add Full-Time Employees at the Property over the next three years (the "Project"). Company estimates that the taxable value of all personal property located on the Property is greater than or equal to $14,375,324.00 as of the date hereof(the"Tax Threshold"). Company currently employees One Hundred Thirty-Three(133)Full- Time Employees at the Property (the "Employee Threshold"). To qualify for the Tax Incentive (defined below) in any year as provided for in this Agreement, the taxable value of all personal property located on the Property must exceed the Tax Threshold as of January 1 of such year and the Company must have paid the taxes for which the Tax Incentive is sought for such year. To qualify for the Employee Incentive (defined below) in any year as provided for in this Agreement, the number of Full-Time Employees employed at the Property must exceed the Employee Threshold as of December 31 of such year. Performance Agreement Between Wylie Economic Development Corporation and SAF-Holland,Inc.—Page 1 #2114766 vl 2. Economic Assistance. (a) Tax Incentive. Subject to the terms of this Agreement, the WEDC will provide to Company economic assistance in an amount equal to fifty percent(50%) of the taxes paid by the Company for taxable personal property located on the Property valued in excess of the Tax Threshold, utilizing a tax rate of 0.013189 ("Tax Incentive"). The Tax Incentive will be payable on each of January 31, 2019, January 31, 2020, and January 31, 2021, provided that Company meets the Tax Threshold and is not in Default of any terms outlined in this Agreement. (b) Employee Incentive. Further, WEDC shall provide to Company additional economic assistance in an amount equal to One Thousand and No/100ths Dollars($1,000.00) for each Full-Time Employee (defined below) added by the Company at the Property in excess of the Employee Threshold, up to a maximum of Forty-Five Thousand Dollars and No/100ths Dollars($45,000.00)in each eligible year("Employee Incentive"). The Employee Incentive will be payable, to the extent applicable, in each of three (3) consecutive years based on the number of Full-Time Employees maintained by the Company at the Property as of December 31,2017,December 31,2018,and December 31,2019,provided that Company meets the Employee Threshold and is not in Default of any terms outlined in this Agreement (the Tax Incentive and the Employee Incentive shall sometimes be collectively referred to herein as the"Economic Assistance"). The Employee Incentive for year one will be based on the number of Full-Time Employees added at the Property over the Employee Threshold as of December 31, 2017, not to exceed Forty-Five Full-Time Employees. The Employee Incentive for year two will be based on the number of Full-Time Employees added at the Property over the Employee Threshold as of December 31, 2018, not to exceed Forty-Five Full-Time Employees. The Employee Incentive for year three will be based on the number of Full-Time Employees added at the Property over the Employee Threshold as of December 31,2017,not to exceed Forty-Five Full-Time Employees. Notwithstanding anything to the contrary contained herein,Company shall not be entitled to receive,and WEDC shall not be obligated to pay,more than Forty-Five Thousand and No/100ths Dollars($45,000.00)under this Agreement for the Employee Incentive in each of the three (3) consecutive years. 3. Criteria to Qualify for Economic Assistance. To qualify for the Economic Assistance, Company shall: (a) Maintain on the Property taxable personal property owned by the Company valued at or above $14,375,324.00 through January 31, 2021. (b) Have paid all taxes for which the Company intends to receive the Tax Incentive for the applicable year. (c) Employ at the Property not less than One Hundred Thirty-Three (133) Full- Time Employees through January 31, 2021. Performance Agreement Between Wylie Economic Development Corporation and SAF-Holland,Inc.—Page 2 #2114766 vl (d) Maintain its Texas principal place of business on the Property through January 31, 2021. 4. Term of the Economic Assistance. Notwithstanding anything to the contrary herein contained,this Agreement shall be null and void if the Company fails to meet the criteria to qualify for Economic Assistance described in paragraph 3 above(as further defined in paragraph 6),or in the event of the following(collectively a "Default"): (a) Any event of bankruptcy incurred by Company. (b) The non-payment of any real or personal property taxes prior to the delinquency date imposed by the City of Wylie, Wylie Independent School District, Collin County Community College, and Collin County in a timely manner. 5. Payment of Economic Assistance. Subject to the terms and conditions of this Agreement and upon Company satisfying the criteria to qualify for Economic Assistance described in paragraphs 2 and 3 above, WEDC shall pay to Company the Tax Incentive on January 31, 2019, January 31,2020, and January 31,2021, and the Employee Incentive on January 31,2018,January 31, 2019, and January 31, 2020. The payment of the First Incentive and the Additional Incentive shall be made as provided above. 6. Event of Default by Company. In the event of a Default by Company, WEDC may declare Company in Default of the Agreement in which event the Agreement shall become null and void with all future Economic Incentive payments suspended. The WEDC will not however pursue repayment of any previous Economic Incentive payments. 7. Miscellaneous. (a) This Agreement may not be assigned by Company without the prior written consent of the WEDC, which consent shall be within the sole discretion of the WEDC. (b) This Agreement contains the entire Agreement of the parties with respect to the matters contained herein and may not be modified or terminated except upon the provisions hereof or by mutual written agreement of the parties hereto. (c) The Agreement shall be construed in accordance with the laws of the State of Texas and shall be performable in Collin County, Texas. (d) This Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective successors and assigns. (e) The individuals executing this Agreement on behalf of the respective parties below represent to each other and to the others that all appropriate and necessary action has been taken to authorize the individual who is executing this Agreement to do so for and on behalf of the party for which his or her signature appears, that there are no other parties or Performance Agreement Between Wylie Economic Development Corporation and SAF-Holland,Inc.—Page 3 #2114766 vl entities required to execute this Agreement in order for the same to be an authorized and binding agreement on the party for whom the individual is signing this Agreement and that each individual affixing his or her signature hereto is authorized to do so, and such authorization is valid and effective on the date thereof. (f) This Agreement is executed by the parties hereto without coercion or duress and for substantial consideration, the sufficiency of which is forever confessed. (g) Any notice provided for under the terms of this Agreement by either party to the other shall be in writing and may be effected by registered or certified mail,return receipt requested. Notice to the WEDC shall be sufficient if made or addressed to the Director, Wylie Economic Development Corporation, 250 State Highway 78 South, Wylie, Texas 75098. Notice to Company shall be sufficient if made or addressed to the President, SAF- Holland, Inc. at Each party may change the address to which notice may be sent to that party by giving notice of such change to the other parties in accordance with the provisions of this Agreement. (h) This Agreement may be executed in a number of identical counterparts,each of which shall be deemed an original for all purposes. (i) In case any one or more of the provisions contained in this Agreement shall for any reason be held to be invalid,illegal or unenforceable in any respect, such invalidity, illegality or unenforceability shall not affect any other provision thereof,and this Agreement shall be construed as if such invalid, illegal or unenforceable provision had never been contained herein. (j) Each signatory represents this Agreement has been read by the party for which this Agreement is executed and that such party has had an opportunity to confer with its counsel. (k) Time is of the essence in the Agreement. (1) The parties agree this Agreement has been drafted jointly by the parties and their legal representatives. (m) For the purposes of this Agreement,a"Full-Time Employee"is defined as an employee hired as a full-time employee under the Company's policies then in effect, who normally is scheduled to work 40 hours per week [which shall include business travel and irregular offsite work commitments such as training, vacations sick leave lay-offs and personal leave], and who are eligible for Company benefits currently offered to similarly situated full-time hourly rated employees of Company who are employed exclusively and on- site at the Company's principal place of business in Wylie, Texas. [SIGNATURE PAGE FOLLOWS] Performance Agreement Between Wylie Economic Development Corporation and SAF-Holland,Inc.—Page 4 #2114766 vl IN WITNESS WHEREOF, the parties have executed this Agreement and caused this Agreement to be effective on the latest date as reflected by the signatures below. THE WYLIE ECONOMIC DEVELOPMENT CORPORATION, a Texas corporation By: Marvin Fuller,President Date of Execution: SAF-HOLLAND, INC., a Michigan corporation By: Its: Date of Execution: P rtl)m ance I\greemem I,3elween Wylie Economic Development Corporation and 5AF'-I-lalland,Inc-- Page 5 021 14766 v l EXHIBIT A Performance Agreement Between Wylie Economic Development Corporation and SAF-Holland,Inc.—Page 6 #2114766 vl Wylie Economic Development Corporation MEMORANDUM TO: WEDC Board of Directors FROM: Jason Greiner, Assistant Directory SUBJECT: Economic Impact Modeling DATE: March 21, 2017 Issue Consider and act upon an Agreement between the WEDC and Impact DataSource,LLC for consulting services. Analysis Attached for your review is a proposal from Impact DataSource for Consulting Services. The program would allow WEDC Staff to develop more in-depth economic impact analysis when evaluating projects. Impact DataSource will prepare and provide a custom Impact DashBoardTM or computer model that analyzes the overall economic and fiscal impact of each unique project. The web based application is designed with our local tax rates and then analyzes each project's capital investment,job creation and average wage. Economic Impacts: The model will then produce a report showing direct and indirect economic impact of a firm or project for a ten-year period, including: • Number of new direct and indirect jobs created in the community • Salaries paid to these workers • Number of new workers who move to the community • Number of new residents • Number of new school students • Additional taxable sales in the community Fiscal Impacts: Further, these economic impacts will be translated in a report into annual revenues over a ten-year period for the city, county, school district, and other local taxing districts including the following: • Sales taxes • Property tax on new residential property and commercial property added on local tax rolls • Utilities • Utility franchise fees • Other taxes and user fees WEDC—The Retail Coach Agreement February 24, 2017 Page 2 of 2 In addition, costs for applicable local districts from the prospective firm and its workers will be calculated, including infrastructure costs or the costs of providing public services, if any, to new residents and the firm. With these costs and benefits, the net benefits over ten years will be calculated for the prospective firm or economic development project. As shown on Page 3 of the proposal the annual subscription fee equals $4,750 which establishes a one-year service agreement. A six-month subscription is available to us as well for$2,375. This reduced amount would get us through this fiscal year and then we have the option to renew the subscription at the annual rate in the new budget year. Staff Recommendation Staff recommends that the WEDC Board of Directors authorize the assistant director to enter into an agreement with Impact DataSource in the amount of $2,375 for the creation and subscription of our own Impact DashBoardTM. Attachments Impact DataSource Agreement Agreement for Impact DashBoard Model This agreement (the "Agreement") is made between Impact DataSource, LLC, 4709 Cap Rock Drive, Austin, Texas 78735, (the "Consultant") and the Wylie Economic Development Corporation (the "Client"), 250 S Highway 78, Wylie, TX 75098, to prepare and provide access to an economic impact model to the Client. Purpose of this Agreement The purpose of this Agreement is to state the terms and conditions, under which the Consultant will prepare and provide access to an economic and fiscal impact computer model, to the Client. Computer Model and Related Services to be Provided The Consultant will prepare and provide a custom Impact DashBoardTM economic and fiscal impact analysis computer model for use by the Client. Access to the model, a customized web-based application, will be provided to the Client for one year and be renewable for unlimited one-year periods. The model will be designed to project the economic and fiscal impact of economic development and other projects for which the Client must respond with incentive proposals and for other projects. Tax rates and other community information for the community will be collected and loaded into the model, along with RIMS II multipliers. The model will include RIMS II regional indirect multipliers so that indirect jobs and earnings may be automatically calculated for each prospect firm or project based on the firm's NAICS. After entering some information about a firm or project, such as the firm's investment, the number of workers, average salaries, and other inputs, the model will produce a DashBoard summary and a detailed report showing the results of the impact analysis. •.: : IMPACT ■ ••■ Economic Impacts The model will produce a report showing the direct and indirect economic impact of a firm or project for a ten-year period, including: • Number of new direct and indirect jobs created in the community, • Salaries paid to these workers, • Number of new workers who move to the community • Number of new residents, • Number of new school students, and • Additional taxable sales in the community. Fiscal Impacts Further, these economic impacts will be translated in a report into annual revenues over a ten-year period for the city, county, school district, and other local taxing districts including the following: • Sales taxes, • Property tax on new residential property and commercial property added on local tax rolls, • Utilities, • Utility franchise fees, • Other taxes and user fees. In addition, costs for applicable local districts from the prospective firm and its workers will be calculated, including infrastructure costs or the costs of providing public services, if any, to new residents and the firm. With these costs and benefits, the net benefits over ten years will be calculated for the prospective firm or economic development project. Other Services Impact DataSource will prepare and provide data sheets for the Client to collect information from a prospect firm or project. The model will calculate property taxes that may be abated and rates of return on investment along with payback period for other incentives being considered by the Client. Plus, the model will also allow the Client to do what-if scenarios on possible levels of incentives that may be offered to prospect firms. 2 : . . - -- . .. The Consultant will provide unlimited training on using the model in GoToMeeting sessions. The Consultant will also provide unlimited technical assistance by phone or email, as the Client uses the model during the subscription year so that the Client can produce reports to assess the economic impact of a firm or project and to make informed decisions on incentives to offer a firm or project. Completion Date The Consultant will complete and provide the impact analysis model within three (3) weeks of the time that the Consultant receives approval from the Client to prepare the model. Confidentiality The Consultant will keep confidential economic and other data obtained from the Client to develop the model, as well as information on other economic development projects that may be reasonably considered confidential by the Client. The Client's Responsibility The Client will provide information and assistance, as needed, for the Consultant to develop the model or put the Consultant in touch with appropriate local government departments to obtain data needed for the model. Compensation The Consultant requires compensation of $4,750 to prepare and provide the economic impact analysis model to the Client and subscription agreement for the Client to use the model for one year from the date that a finished model is provided for use to the Client. Should the client wish to begin with a six-month period, the fee will be $2,375, and thereafter would begin an annual subscription of $4,750. In either case, the Consultant will honor a $750 credit towards a model due back to the Client for a previously completed one-off report. . . . The model's subscription agreement may be renewed for unlimited additional years, with an annual subscription fee of $4,750 for the initial year increased by the 5%. An invoice for preparing the economic impact analysis model will be submitted to the Corporation at the time that the completed model is provided to the Corporation. Payment for the invoice will be mailed within three weeks to: Impact DataSource, LLC 4709 Cap Rock Drive Austin, Texas 78735 Additional Services The Consultant will be available for on-site consulting, board and city council presentations and in-person training, for an additional fee of $500 per day plus travel expenses. The Client can request to have the Consultant review a Client-prepared analysis in detail to certify that it conforms to impact modeling convention and appears reasonable in their estimation, for an additional fee of $250. Pending review and agreement, the Consultant will assign an "Economist Reviewed" badge to the report so that the report clearly states the project was reviewed by Impact DataSource for reasonableness. The Client can request that the Consultant compile an Economic Development Organization Performance Report that summarizes the combined impact of multiple projects over a year, for an additional fee. As of 2016, the fee is $3,000. EDO Performance Reports that summarize the combined impact of multiple projects over multiple years can be provided for a larger fee, to be determined by the time period and project count. Terms of this Agreement The term of this Agreement shall commence upon its signing and continue in effect as long as the Consultant's subscription agreement with the Client for using the model is in force. Governing Law, Entirety of Agreement, and Partial Invalidity • 4 I 0 : :e IMPACT The laws of the State of Texas shall govern this Agreement and any disputes regarding this Agreement will be settled in Travis County, Texas. The Agreement constitutes the entire Agreement between the parties regarding its subject matter. If any provision in this Agreement is held by any court to be invalid, or unenforceable, the remaining provisions shall nevertheless continue in full force. Submission of this Agreement Impact DataSource, LLC submits this agreement to complete an economic and fiscal impact analysis of the Client's Facilities. Acceptance of this agreement by the Client forms a contract under which both parties to this agreement must perform. Submitted: Accepted: Impact DataSource, LLC Wylie EDC Paul Scheuren, Principal Jason Greiner 250 South Highway 78, Wylie, TX 75098 March 15, 2017 Contact information: Paul Scheuren Impact DataSource 4709 Cap Rock Drive Austin, Texas 78735 512.524.0892 Fax 512.892.2569 paul@impactdatasource.com www.impactdatasource.com 5 •61 3 IMPACT Wylie Economic Development Corporation MEMORANDUM TO: WEDC Board of Directors FROM: Samuel Satterwhite, Executive 1]ircctor SUBJECT: Downtown Parking Improvements DATE: March 18, 2017 Issue (Remove from Table) Discuss issues surrounding the construction of parking improvements on WEDC property located at 111 N. Ballard. Analysis The City Engineer has received the plans for parking improvements on WEDC property located adjacent to and south of Boyd Recording Studio on Ballard Street. The plans identify 18, angled parking spaces coming in off Ballard Street and exiting around the east side of property owned by Mr. Billy Conkle to Oak Street as shown on the attached Paving Plans. Following comments and final approval from the City Engineer, Helmberger Associates will send these plans out for bid to at least three qualified contractors. Construction costs have been estimated at$105,000 for paving and$25,000 for Oncor to relocate two existing utility poles and replace multiple transformers. Mr. Greiner received the Oncor estimate via email but will now send the final plans to Oncor for a more formalized quote. The only outstanding issue is the unknown cost for relocating Frontier service lines which Mr. Greiner is currently pursuing. Should the Board be interested in proceeding, staff suggests a 'not to exceed' authorization from the Board to enter into a contract with the most qualified bidder with said contract to be reviewed by WEDC Counsel Randy Hullett. Should the Board feel more comfortable reviewing the individual final figures and contract, staff anticipates that the bid process and Construction Contract can be completed in the next 30 days. This second option will require the item to be tabled until the April meeting. Recommendation Staff recommends that the WEDC Board of Directors authorize the Executive Director to enter into a Construction Contract for parking improvements and Agreement with Oncor for the relocation of utility poles and transformer upgrades not to exceed $135,000 cumulatively. Attachments Paving Plans r II AILILA 1'\ D STREET PUHILIC PARKING IMPROVEMENTS . WYLIE ECONOMIC DEVELOPMENT CORPORATION PAVING IMPROVEMENTS II AIIL]LARD STREET CITY OF WYLIE9 TEXAS ..... - SHEET INDEX - COYVO 141.RL','4F_:_i FVD:1•_ .Mrtf.' :t_ ORw. ,.OtES STD-00 R SITE i:nv.•_.1 DE ifs? S - _ +l•.'nv ' .i..',S. DRIVEWAYS STD TD-05_R04R wA1C"- - STD-14_R ISA,T5.RYI SCw{R'MANHOLES STD-19_R •r P.0 ti EMBEE1E31"S STD-21_R T.001 PCA, IRIN1 F,1tEIll5V PED-12A _ 1014 ` I.1451 PEOLSTHIAII IOCQLIT1[S RED lin 2014 - • f.997•1 P1.0 S?P1-RI V 4L4lfl.•55 PEA 12F 3o14 - . I.GO1 F.94144 V•,5[nllf..5 -FED-t:a 4014 OWNER: WYLIE ECONOMIC DEVELOPMENT CORPORATION 250 S HIGHWAY 78 _.. - . — WYLIE,TEXAS 75098 --- SAM SATTERWHITE • (972) 442-7901 V - r, ENGINEER J1 TCJ .-.wl...,,.,o . 10'1�. HELMBERGER ASSOCIATES. INC _ _ 1525 BOZMAN ROAD ` WYLIE,TEXAS 75098 RANDALL T HELMBERGER, PE (972) 442-7459 TBPE REGISTRATION NO — F000756 GENERAL NOTES' --- K� _ MC TO -ANDARD CURBS Oak Street SIDEWALK SECTIONS IS'MRIIMMOM F AOJ ILENI TD SIKLI4F'1000 PSSCONCRETEI WITH WELDED 'W-, WIRE MESH PAVEMENT SECTIONS 30IN LOIN. OIAD ALL C• R•�•E� [KI T)- 100 PLREIKORCED IONCR(1 N YA'Cs.b IXHM a:Crd aSrua5 I - •- l— CA41-:30 ATLows4'.fN . I.II�[e,p.E+! D•39AA,W I:' . '1°":W.I!',s_ III - --_ • -.. 19 OCEW "X"FNC 0b.'E0` `.. Y i1 .}7T Co I 5- .�V.I _.._._. • •• •• Glwr.-• ._ lI2 lie =r.�. N !:1 ,f 1I� 1.``. LOT 2 -._-..._-. i.e.' Wco S89°40'37"E i N00°13129"E 1 150.00' t 60.00' ) 1 I EP z•g Barg EII_:99wIEi9 - • _ _ �3 - L'"-I I 112•CI FIirJI_•x TOPMH=5494D' 'f5'G -- ---- y° C:•u.0 .. F ._� ............. R^.T74,t' J T. ARES'OICI -55 } FL 16"RCP(S)=54545. " �/Jf - _ • -' 1 - KK - IW I K v 'x' G.i.el O .. �r• = A . '\� S00'13'29"W -:%4F'J --:';;, Q) ' ,I �,A �._ 0 1LO JJJI 1 i -_ / % I: -f � N. CO j ;��. s E_: L- .ze 23.I R F dears, F - N39°40'37•W024' •0.-W :--5 t- /•• TOP MH=55057' • N89°40'37"W _ FL 38"Metal(NE)=539 43' FL 36"Mehl(S W)=539 37' 119.95' IS I+CC(N)=54052' - - PAVING IMPROVEMENTS • BALLARD STREET PUBLIC PARKING m ECONONF_'c-VELOPLDE11r CORD`(ft.A1ION "ry ,N• CITY or WYLIEE,TEXAS _. ..�a,7 w:m�.ow,ODen,i"In HELMBEROER ASSOCIATE-9,1NC. b a oz CIVIL AND ENVIRONMENTAL ENGINEERS ^ En OCSICA MA. CAC MALL MOMS •idt Nno. two b• M, •'• Cl Wylie Economic Development Corporation MEMORANDUM TO: WEDC Board of Directors FROM: Samuel Satterwhite, Executive Director SUBJECT: DANK Real Estate Performance Agreement DATE: March 14, 2017 Issue Consider and act upon an amendment to a Performance Agreement between DANK Real Estate, Ltd. and the WEDC. Analysis In order to receive incentive payment 3 of 3 in the amount of$7,500, DANK Real Estate was required to meet the following requirements: 1) Provide documentation to the WEDC's satisfaction that there is a cumulative real and business personal property value on the Project of not less than$1,150,000; and 2) Maintain continuous occupancy and conduct the company's operations on the Property; and 3) Certify that all ad valorem property taxes due were paid in full no later than February 1, 2017. DANK Real Estate, Ltd's is in compliance with the terms of the performance agreement having a real property valuation of$939,362 and a business personal property valuation of$367,728 for a total taxable valuation of $1,307,090. However, this year's property taxes were inadvertently overlooked and were not paid until February 24, 2017. Given that DANK Real Estate is current on property taxes,penalties and interest,and has complied with all other terms of the Performance Agreement, staff believes that the spirit of the agreement has been upheld and recommends that the Board approve a First Amendment to the agreement allowing for an extension of the time period by which ad valorem property taxes and fees must be paid to February 24, 2017. Recommendation Staff recommends that the WEDC Board of Directors approve a First Amendment to Performance Agreement extending the date by which DANK Real Estate, Ltd must have ad valorem property taxes paid to February 24, 2017. DANK Real Estate, Ltd March 14, 2017 Page 2 of 2 Attachments Performance Agreement Real Property Appraisal Business Personal Property Appraisal Tax Statement PERFORMANCE AGREEMENT Between WYLIE ECONOMIC DEVELOPMENT CORPORATION And DANK REAL ESTATE,LTD. 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 Chapter 501 of the Texas Local Government Code,known as the Development Corporation Act, as amended from time to time (the "Act"), and DANK Real Estate, Ltd., a Texas limited partnership (the "Company"). RECITALS WHEREAS, the Company currently occupies 5,000 square feet of improvements on real property with an ad valorem tax value of $425,000.00 and business personal property of $168,000.00 ("Property") in the City of Wylie, Texas (the "City"); and WHEREAS, the Company is desirous of constructing a manufacturing and warehouse facility on the Property in the City; and WHEREAS, the Company has requested that the WEDC provide economic assistance to facilitate this construction in the City(the "Project"); and WHEREAS, the expansion of the Company's operation in the City will create "primary jobs", as that term is defined in the Act, being a job available at a company for which a majority of the products or services of the company are ultimately exported to regional, statewide, national or international markets; and WHEREAS, primary jobs created by the Project of the Company fall within the North American Industry Classification System(NAICS) Sector No. 311-339; 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 industrial and business properties within the City; and WHEREAS, the WEDC is willing to provide the Company with economic assistance hereinafter set forth on the terms and subject to the conditions as stated herein and Company is willing to accept the same subject to all terms and conditions contained 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 Company economic assistance in the form of Performance Economic Incentives Page 1 of 6 #637100-v1 ("Economic Incentives") in an amount up to, but not to exceed Thirty Thousand and No/100s Dollars($30,000.00). Upon meeting the qualifications and requirements (the "Performance Requirements"), the Company shall be entitled to the following Economic Incentives: Economic Incentives and Performance Requirements Schedule: gnomic Squire Tiopb WEDC Tod E#lgibiiity tuceutive_ Feet Iteil Property Incentive WE'DC Period* No. Occupied ud incentive • upuasss etiopsl 'a . chrn(dative 21 10,300/► $595,000{q� ($w1}5,000 $1%5,�0/0�0� 10 .$1,150 000 $ $22,500 3 10,300 $1,150,000 $7,500 $30,000 * The Expiration Date for each Economic Incentive is February l'` of each calendar year during the term of the Performance Agreement,beginning February 1,2015. II. Requirements for each Economic Incentive. a. A maximum Economic Incentive of $15,000.00 will be paid to the Company upon completion of the following Performance Requirements for Incentive No. 1: 1) Documentation of certificate of occupancy of a 5,300 square foot manufacturing and warehouse facility on the Property with a building permit valued at no less than $600,000.00; and 2) Company must certify that all ad valorem property taxes due are paid in full no later than February 1,2015; and 3) Compliance documentation shall be submitted as required below in Article III, General Provisions(b). b. A maximum Economic Incentive of $7,500.00 will be paid to Company upon completion of the following Performance Requirements for Incentive No. 2: 1) Documentation to the WEDC's satisfaction that there is a cumulative real and business personal property value on the Project of not less than$1,150,000.00; and 2) The continuous occupancy and conduct of the Company's operations on the Property; and 3) Company must certify that all ad valorem property taxes due are paid in full no later than February 1,2016; and Page 2 of 6 #637100-v1 4) Compliance documentation shall be submitted as required below in Article III, General Provisions (b); and 5) Eligibility for this Incentive No. 2 begins twelve (12) months from the issuance of the certificate of occupancy for the Project and expiration for the Company to qualify for this Incentive No. 2 is February 1, 2016. c. A maximum Economic Incentive of $7,500.00 will be paid to Company upon completion of the following Performance Requirements for Incentive No. 3: 1) Documentation to the WEDC's satisfaction that there is a cumulative real and business personal property value on the Project of not less than$1,150,000.00; and 2) The continuous occupancy and conduct of the Company's operations on the Property; and 3) Company must certify that all ad valorem property taxes due are paid in full no later than February 1, 2017; and 4) Compliance documentation shall be submitted as required below in Article III, General Provisions(b); and 5) Eligibility for this Incentive No. 3 begins twenty-four (24) months from the issuance of the certificate of occupancy for the Project and expiration for the Company to qualify for this Incentive No. 3 is February 1,2017. For purposes of this Agreement, "Real Property" refers to improvements which are additions, alterations, remodeling, or renovations performed on real property, that are either taxed separately or increase the value of the existing real property as determined by the appropriate County Appraisal District. For the purposes of this Agreement, "Business Personal Property" refers to furniture, fixtures, equipment,machinery, merchandise,materials, and all other personal property owned and/or leased by the Company and used in the Company's business which is taxable as determined by the appropriate County Appraisal District. III. General Provisions. a. Term of the Agreement: The term of this Agreement shall begin on the date of execution by the WEDC and will expire the earlier of (i) the full payment of the Economic Incentives, or (ii) on February 1, 2017, or as otherwise provided within the Agreement. Notwithstanding the above, if the Company fails to execute and deliver this Agreement to the WEDC on or before 5:00 p. m. on the thirtieth (30th) day following the date of approval by the WEDC,this Agreement shall be null and void. Page 3 of 6 #637100-v1 b. Submittal of Performance Documentation: Supporting documentation must be submitted in a format acceptable to the WEDC not more than thirty (30) days from the Expiration Date for each Economic Incentive. c. Verification and Compliance: The Company will certify and provide, to the extent necessary, Company records, documents, agreements, construction contracts both at the prime and sub-contractor level, and other instruments in furtherance of the following purposes: (i) to insure Company's compliance with the affirmative covenants as set forth within the Performance Agreement; (ii) to determine the existence of an Event of Default; (iii) to insure compliance with any terms or conditions set forth in the Agreement or related documents. Company will provide reports certifying the status of compliance, new investments, sales/use taxes paid to any/all vendors or directly to the Texas Comptroller of Public Accounts and any other relevant information until the termination of the Agreement. Documentation for taxable real or business personal property may include the Company providing their Property Value Information Certification form from the "appropriate" County Appraisal District for the City of Wylie, Texas. Documentation for sales/use tax payments may be copies of sales/use tax returns and/or vendor billings and payments. d. Undocumented Workers: Under Chapter 2264 of the Texas Government Code, the Company has submitted the required certification that the business, or a branch, division, or department of the business, does not and will not knowingly employ an undocumented worker. An undocumented worker means an individual who, at the time of employment, is not lawfully admitted for permanent residence to the United States or authorized under the law to be employed in that manner in the United States. If after receiving this public subsidy/grant from the WEDC, the Company, or a branch, division, or department of the business, is convicted of a violation under 8 U.S.C. Section 1324a(f),the Company shall repay the amount of the public subsidy/grant from the WEDC with interest, at the rate and according to the terms provided by this Agreement under Section 2264.053, but not later than the 120th day after the date the public agency, state or local taxing jurisdiction, or economic development corporation notifies the Company of the violation. e. Payment of Economic Incentives: Subject to the terms of this Agreement, the WEDC shall pay the Economic Incentives within forty-five (45) 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. The "payment date" of each Economic Incentive shall be the date of the check for each Economic Incentive that is paid. Not more than one (1) Economic Incentive shall be paid within a period of twelve (12)months. f. Non-Attainment of Performance Requirements: In the event the Company does not meet or exceed the Performance Requirements as specified in Section II, the WEDC Economic Incentive will be either voided or reduced at the sole discretion of the WEDC Board of Directors. After the expiration date of an Eligibility Period, the Company will not be eligible to receive any portion of an Economic Incentive. Page 4 of 6 #637100-v1 g. Employee Hiring, Materials and Supplies Purchase. Although not an event of default or a condition to this Agreement, WEDC requests that the Company satisfies its need for all additional employees from Wylie residents and purchase all materials, supplies and services necessary to affect the occupancy of the leased office space from Wylie merchants and businesses. h. 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. i. Non-Payment of Economic Incentives: Notwithstanding anything herein to the contrary, WEDC shall have no obligation to pay any of the Economic Incentives if the Company becomes insolvent, makes false statements, fails to pay municipal payments or files suit against the City and/or the WEDC, becomes delinquent in the payment of ad valorem taxes, or otherwise defaults under the terms of this Agreement. j. Notification Obligations: The Company shall notify the WEDC in writing of any material changes in the Company ownership or management within seven (7) days of any such change. k. Termination of Economic Assistance: This Agreement may be terminated by mutual written consent of the parties or by either party, upon the failure of the other party to fulfill an obligation as set forth in this Agreement. Regardless of Company's level of attainment of the Performance Requirements as set forth in this Agreement, the WEDC's obligation to pay a portion or all of the Economic Incentives to the Company will expire thirty (30) days following the Eligibility Period of the last Economic Incentive, except in the event that the Company has fully complied with the Performance Requirements for such unpaid Economic Incentives, including reasonable compliance with the documentation requirements set forth herein. IV. 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 the Act, which are incorporated herein by reference for all purposes. In the event any provision of the Agreement is in conflict with the Act, the Act 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. Page 5 of 6 #637100-v1 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: Mr. Samuel D.R. Satterwhite, Executive Director Wylie Economic Development Corporation 250 South Hwy. 78 Wylie, Texas 75098 With copy to: Abernathy Roeder Boyd & Joplin P.C. 1700 Redbud Blvd., Suite 300 McKinney, Texas 75069 Attention: Mr. G. Randal Hullett COMPANY: DANK Real Estate, Ltd. Barbara Hodge, President 216 Windco Circle Wylie, Texas 75098 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. WEDC BOARD APPROVED this -Q-1-TA- day of� dehJl` , 2013. WEDC: WYLIE ECONOMIC DEVELOPMENT CORPORATION By: (a _ Ok, 1 Samuel D.R. Satterwhite Executive Director Dated: COMPANY: DANK Real Estate Ltd. 7 a Texas lignite artnership / By: r f` -� /- I f arbara Hodge President Dated: �4 -,,Y.)- �l t _ Page 6 of 6 #637100-v1 Collin CAD - Property Search Page 1 of 2 Property Search Property ID: 2087725 - Tax Year: 2017 General Information Owner Information Property ID 2087725 Owner ID 827950 Property Status Active Owner Name(s) Dank Real Estate Ltd Geographic ID R-2057-000-014R-1 Exemptions None Property Type Real Percent Ownership 100.00% Property Address 216 Windco Cir Mailing TX 75098 Address Po Box 2821 Wylie,TX 75098-2821 DBA Name Deanan Gourmet Popcorn Total Land Area 65,906 sq.ft. 2017 Value Information Total Improvement Main Area 10,437 sq.ft. Abstract/Subdivision Value information for Property ID 2087725 in the 2017 tax year Wyndham Estates Phase lii is unavailable.Value information for prior years may be available in the Value History section below. Primary State Code F2(Real Industrial) Legal Description Wyndham Estates#3, Lot 14r Entities Taxing Entity Tax Rate Collected By CWY(Wylie City) 0.848900(2016 Rate) Collin County Tax Office GCN(Collin County) 0.208395(2016 Rate) Collin County Tax Office JCN(Collin College) 0.081222(2016 Rate) Collin County Tax Office SWY(Wylie ISD) 1.640000(2016 Rate) Collin County Tax Office Improvements Land Segments Improvement#1 Commercial Land Segment#1 Industrial State Code F2(Real Industrial) State Code F2(Real Industrial) Homesite No Homesite No Market Value Market Value Total Main Area 10,437 sq.ft. Ag Use Value n/a Detail# Type Year Built Sq.Ft. Land Size 1.5130 acres 65,906 sq.ft. 1 MA-Main Area 1999 5,000 2 MA-Main Area 2014 5,437 3 CAN-Canopy 2014 480 Improvement#2 Commercial State Code F2(Real Industrial) http://collincad.org/propertysearch?prop=2087725&year=2017 2/17/2017 Collin CAD - Property Search Page 2 of 2 Homesite No Market Value Total Main Area n/a Detail# Type Year Built Sq.Ft. 1 CON-Concrete Paving 1999 14,872 2 CON-Concrete Paving 2014 10,580 Value History Year Improvement Land Market Ag Loss Appraised HS Cap Loss Assessed 2016 $807,550 $131,812 $939,362 $0 $939,362 $0 $939,362 2015 $791,959 $131,812 $923,771 $0 $923,771 $0 $923,771 2014 $290,039 $131,812 $421,851 $0 $421,851 $0 $421,851 2013 $294,471 $131,812 $426,283 $0 $426,283 $0 $426,283 2012 $250,024 $131,812 $381,836 $0 $381,836 $0 $381,836 Deed History Deed Date Seller Buyer Instr# Volume/Page 09/20/2011 CIERA CHASE LLC DANK REAL ESTATE LTD 20110920001001980 03/16/2007 SALINAS CHRISTOPHER J& CIERA CHASE LLC 20070316000378940 05/30/2001 TITO PHILMAN&MARGARET SALINAS CHRISTOPHER J& 0 1-0 071 6 5 5/494 1-1 8 34 SB 541-Amends Section 25.027 of the Property Tax Code,effective September 1,2005 RESTRICTION ON POSTING DETAILED IMPROVEMENT INFORMATION ON INTERNET WEBSITE: Information in appraisal records may not be posted on the Internet if the information is a photograph,sketch,or floor plan of an improvement to real property that is designed primarily for use as a human residence.This section does not apply to an aerial photograph that depicts five or more separately owned buildings. HB 394 -Amends Section 25.027 of the Property Tax Code,effective September 1,2015 RESTRICTION ON POSTING AGE RELATED INFORMATION ON INTERNET WEBSITE: Information in appraisal records may not be posted on the Internet if the information indicates the age of a property owner,including information indicating that a property owner is 65 years of age or older. http://collincad.org/propertysearch?prop=2087725&year=2017 2/17/2017 Collin CAD - Property Search Page 1 of 2 Property Search Property ID: 2701208 - Tax Year: 2017 General Information Owner Information Property ID 2701208 Owner ID 906621 Property Status Active Owner Name(s) Dank Real Estate'Ltd Geographic ID P-9000-214-2749-1 Exemptions None Property Type Personal Percent Ownership 100.00% Property Address Various Locations Cwy Swy Mailing Address Po Box 2821 DBA Name Dank Real Estate Ltd Wylie,TX 75098-2821 Total Land Area n/a Total Improvement Main Area n/a 2017 Value Information Abstract/Subdivision Value information for Property 1D 2701208 in the 2017 tax year Primary State Code 0is unavailable.Value information for prior years may be available in the Value History section below. Legal Description BPP at Various Locations Cwy Swy Entities Taxing Entity Tax Rate Collected By CWY(Wylie City) 0.848900(2016 Rate) Collin County Tax Office GCN(Collin County) 0.208395(2016 Rate) Collin County Tax Office JCN(Collin College) 0.081222(2016 Rate) Collin County Tax Office SWY(Wylie ISD) 1.640000(2016 Rate) Collin County Tax Office Improvements Land Segments Our records don't show any improvement data for Property ID Our records don't show any land data for Property ID 2701208 2701208 in the year 2017. in the year 2017. Value History Year Improvement Land Market Ag Loss Appraised HS Cap Loss Assessed 2016 $0 $0 $367,728 $0 $367,728 $0 $367,728 2015 $0 $0 $290,266 $0 $290,266 $0 $290,266 2014 $0 $0 $177,742 $0 $177,742 $0 $177,742 Deed History http://collincad.org/propertysearch?prop=2701208&year=2017 2/17/2017 Collin CAD - Property Search Page 2 of 2 Deed Date Seller Buyer Instr# Volume/Page SB 541-Amends Section 25.027 of the Property Tax Code,effective September 1,2005 RESTRICTION ON POSTING DETAILED IMPROVEMENT INFORMATION ON INTERNET WEBSITE: Information in appraisal records may not be posted on the Internet if the information is a photograph,sketch,or floor plan of an improvement to real property that is designed primarily for use as a human residence.This section does not apply to an aerial photograph that depicts five or more separately owned buildings. HB 394 -Amends Section 25.027 of the Property Tax Code,effective September 1,2015 RESTRICTION ON POSTING AGE RELATED INFORMATION ON INTERNET WEBSITE: Information in appraisal records may not be posted on the Internet if the information indicates the age of a property owner,including information indicating that a property owner is 65 years of age or older. http://collincad.org/propertysearch?prop=2701208&year=2017 2/17/2017 Welcome to Collin County, Texas Online Page 1 of 1 Search: 1 El Ars, Local Weather VIA (2_,A- /7, , ,r..-.„25, k . ,.. pt. ...: r ... . ..L„.... •$. • t63';.F./. . . * taunt First in growth, second to none 7Pr Afi _ Doing Business Living & Visiting Government Online Services County Directory , Print Friendly Version dProperty Tax Record Kenneth L.Maun Collin County Tax Assessor Collector 2300 Bloomdale Rd,Ste 2324 McKinney,TX 75071 Ph:972-547-5020 L Mew Seprch Account: R2057000014R1 Acres: 0.000 2016 Values APD: 2087725 Yr Built: 0 Improvement Non-Home Site 807550 Location: 0000216WINDCO CIR Sq Ft: 0 Land Non-Home Site 131812 Legal: WYNDHAM ESTATES#3(CWY),LOT Def.Start: NONE 2016 Exemptions 14R Def. End: NONE Owner: DANK REAL ESTATE LTD Roll: R PO BOX 2821 UDI: 100% WYLIE TX 75098--282 Click on the e-Statement button to view Total Tax Due. Click on the e-Payment button to make a credit card or eCheck payment. ( Ail years 1 Tax Estimator.) L e-Payment j L e-statement j Year Unit Levy Amount Levy Penalty Interest Col Total Receipt Amount Paid Due Penalty Due Date 2016 01 1,957.58 2,094.61 0.00 0.00 0.00 0.00 0.00 2/24/2017 2016 27 7,974.24 8,532.43 0.00 0.00 0.00 0.00 0 00 2/24/2017 2016 60 762.97 816.38 0.00 0.00 0.00 0.00 0.00 2/24/2017 2016 85 15,405.54 16,483.93 0.00 0.00 0.00 0.00 0.00 2/24/2017 2016 26,100.33 27.927.35 0 00 0.00 0.00 0.00 0.00 Totals Locations I Sitemap I Webmail I Privacy&Accessibility I En Espanol I Website Feedback Copyright©2013 Collin County Texas • All Rights Reserved • 972.548.4100(McKinney) • 972.424.1460(Metro) http://taxpublic.collincountytx.gov/webcollincounty/accountsearch.htm 3/15/2017 Welcome to Collin County, Texas Online Page 1 of 2 Search: 1.:0g Local Weather 1110 ' r tl r C DLLV. • 1._ First in growth, second to none Doing Business Living & Visiting 1 Government Online Services I County Directory Print Friendly Version Property Tax Record Kenneth L.Maun Collin County Tax Assessor Collector 2300 Bloomdale Rd.Ste 2324 McKinney,TX 75071 Ph:972-547-5020 L New Search 1 Account: P900021427491 Acres: 0.000 2016 Values APD: 2701208 Yr Built: 0 Personal 367728 Location: 0000000VARIOUS LOCATIONS CWY Sq Ft: 0 2016 Exemptions SWY Def.Start: NONE Legal: BP AT VARIOUS LOCATIONS CWY S Def.End: NONE Roll: P Owner: DANK REAL ESTATE LTD UDI: 1000/0 PO BOX 2821 WYLIE TX 75098--282 Click on the e-Statement button to view Total Tax Due. Click on the e-Payment button to make a credit card or eCheck payment. Alt years 1 1 Tax Estimator J l e-Payment j 1 e-Statement 1 Year Unit Levy Amount Levy Penalty Interest Col Total Receipt Amount Paid Due Penalty Due Date 2016 01 766.33 819.97 0.00 0.00 0.00 0.00 0.00 2/24/2017 2016 27 3,121.64 3,340.16 0.00 0.00 0.00 0.00 0.00 2/24/2017 2016 60 298.68 319.59 0.00 0.00 0.00 0.00 0.00 2/24/2017 2016 85 6,030.74 6,452.89 0.00 0.00 0.00 0.00 0.00 2/24/2017 2018 10,217 39 10,932.61 0.00 0.00 0.00 0.00 0.00 Totals http://taxpublic.collincountytx.gov/webcollincounty/accountsearch.htm 3/15/2017 Welcome to Collin County. Texas Online Page 2 of 2 Locations I Sitemap I Webmail I Privacy&Accessibility I En Espanol I Website Feedback Copyright©2013 Collin County Texas • All Rights Reserved • 972.548.4100(McKinney) • 972.424.1460(Metro) http://taxpubIic.eollineountytx.gov/webcollincounty/accountsearch.htm 3/15/2017 Wylie Economic Development Corporation MEMORANDUM TO: WEDC Board of Directors FROM: Samuel Satterwhite, Executive Director f1/ SUBJECT: VIAA Properties, LLC Performance Agreement DATE: March 14, 2017 Issue Consider and act upon an amendment to a Performance Agreement between VIAA Properties, LLC. and the WEDC. Analysis In order to receive incentive payment 2 of 2 in the amount of$20,000,VIAA Properties, LLC was required to meet the following requirements: 1) Provide documentation to the WEDC's satisfaction that there is a cumulative real and business personal property value on the Project of not less than $1,000,000; and 2) Certify that all ad valorem property taxes due were paid in full no later than January 31, 2017. VIAA Properties, LLC is in compliance with the terms of the performance agreement having a real property valuation of$1,162,446 and a business personal property valuation of$99,600 for a total taxable valuation of $1,262,046. However, this year's property taxes were inadvertently overlooked and were not paid until February 14, 2017. Given that VIAA Properties, LLC is current on property taxes, penalties and interest, and has complied with all other terms of the Performance Agreement, staff believes that the spirit of the agreement has been upheld and recommends that the Board approve a First Amendment to the agreement allowing for an extension of the time period by which ad valorem property taxes and fees must be paid to February 14, 2017. Recommendation Staff recommends that the WEDC Board of Directors approve a First Amendment to Performance Agreement extending the date by which VIAA Properties, LLC must have ad valorem property taxes paid to February 14, 2017. VIAA Properties, LLC March 14, 2017 Page 2 of 2 Attachments Performance Agreement Real Property Appraisal Business Personal Property Appraisal Tax Statement Amended PERFORMANCE AGREEMENT Between WYLIE ECONOMIC DEVELOPMENT CORPORATION And VIAA Properties, 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 VIAA Properties,LLC a Texas Corporation(the"Company"). RECITALS WHEREAS, the Company is desirous of making real and personal property improvements in the form of a 6,094 square foot medical office building (the "Project"). The project will have an estimated cost of One Million Two Hundred Thousand Dollars ($1,200,000) and will be located at 115 South Birmingham Street in Wylie,Texas (the "Facility"); and WHEREAS, the Company has requested that the WEDC provide economic assistance to offset the cost of the construction and acquisition of inventory for the Project and other expenses associated with constructing the Facility in the City of Wylie, Texas; and WHEREAS, the construction of the Project in the City of Wylie, Texas will ultimately create"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 Fifty Thousand Dollars ($50,000.00) (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 February 28, 2017. Page 1 of 5 C:\lJsers\Sam Satterwhite\Documents\Word Files\Wylie Village Dentistry\Amended Performance Agreement.doc Upon meeting the qualifications and requirements (the "Performance Requirements"), the Company shall be entitled to the following Economic Development Incentives: Economic Development Incentive Payment Schedule: Expected Cost/Value of WEDC Total WEDC Eligibility Year Incentive Improvements Incentive Incentive Expiration 2016 No. 1 $1,200,000 $30,000 $30,000 2-28-2016 2017 No. 2 $1,000,000 $20,000 $50,000 2-28-2017 II. Performance Requirements for Economic Development Incentive. a. Incentive No. 1: An Economic Development Incentive of Thirty Thousand Dollars ($30,000) will be paid to Company upon completion of the following Performance Requirements for Incentive No. 1: 1) Receipt of documentation by WEDC supporting the construction of a six thousand ninety four (6,094) square foot commercial building as evidenced by a Certificate of Completion or a Certificate of Occupancy issued by the City of Wylie on or before February 28, 2016, approval of said documentation at the sole and absolute discretion of the WEDC; and 2) Receipt of documentation by WEDC supporting a minimum construction cost of the project of One Million Two Hundred Thousand Dollars ($1,200,000) as evidenced by paid construction invoices supporting the minimum construction cost, approval of said documentation at the sole and absolute discretion of the WEDC; and 3) Company is current on all ad valorem taxes and other property taxes due on the Facility by January 31 of the year after they are assessed and provide written notice and evidence of such payment to WEDC in a form satisfactory to WEDC; and 4) Eligibility expiration for the Company to qualify for this Incentive No. 1 is February 28, 2016. b. Incentive No. 2: An Economic Development Incentive of Twenty Thousand Dollars ($20,000) will be paid to Company upon completion of the following Performance Requirements for Incentive No. 2: 1) Receipt of documentation by WEDC supporting a minimum valuation of One Million Dollars ($1,000,000) for real and personal property located at 115 S. Birmingham Street, Wylie, Texas as evidenced by a certified appraisal issued by the Collin County Central Appraisal District, approval of said documentation at the sole and absolute discretion of the WEDC; and Page 2 of 5 C:\Users\Sam Satterwhite\Documents\Word Files\Wylie Village Dentistry\Amended Performance AgreemenLdoc 2) Company has paid all ad valorem taxes and other property taxes due on the Project by January 31 of the year after they are assessed and provide written notice and evidence of such payment to WEDC in a form satisfactory to WEDC by February 28 of the year after the taxes are assessed; and 3) Eligibility expiration for the Company to qualify for this Incentive No. 2 is February 28, 2017. III. WEDC Payment of Reimbursement Incentives. Subject to the terms of this Agreement, the WEDC shall pay the Incentives within approximately five (5) 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 in addition to all future Economic Development Incentive payments being voided 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. Company will be notified in writing in the event a Performance Requirement is not met and have thirty(30)days to cure said default. 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 February 28, 2017. 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 Page 3 of 5 C:\Users\Sam Satterwhite\Documents\Word Files\Wylie Village Dentistry\Amendcd Performance Agreemcnt.doc compliance, jobs retained, new investments and any other relevant information until the termination of this Agreement 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 advance shall not be forgiven 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, or 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 South Highway 78 Wylie, Texas 75098 COMPANY: VIAA Properties, LLC 1909 Bayside Drive Wylie, TX 75098 Attention: Dr. Vinay Kumar Page 4 of 5 C:\Users\Sam Satterwhite\Documents\Word Files\Wylie Village Dentistry\Amended Performance Agreement.doc 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. EXECUTED this sr-P.-Vs- day of October,2015. WEDC: Wylie Economic Development Corporation By: e L �� Samuel D.R. Satterwhite, Executive Director COMPANY: VIAA Properties, LLC I � � By: 'r Dr. V inlay Kumar, President Page 5 of 5 CAtlsers\Sam Sattcrwhite\Documcnts\Word Files\Wylic Village Dentistry'Amended Performance Agreement.doc Collin CAD - Property Search Page 1 of 2 Property Search Property ID: 2677013 - Tax Year: 2017 General Information Owner Information Property ID 2677013 Owner ID 950646 Property Status Active Owner Name(s) Viaa Properties LLC Geographic ID R-1166-003-008R-1 Exemptions None Property Type Real Percent Ownership 100.00% Property Address 115 S Birmingham St Wylie,TX 75098 Mailing Address 1909 Bayside Dr Wylie,TX 75098-7802 Total Land Area 27,051 sq.ft. Total Improvement Main Area 6,103 sq.ft. 2017 Value Information Abstract/Subdivision Kellers First Addition Value information for Property ID 2677013 in the 2017 tax year Primary State Code F1 (Office Commercial Real) is unavailable.Value information for prior years may be available in the Value History section below. Legal Description Kellers First Addition,Blk 3, Lot 8r; Replat Entities Taxing Entity Tax Rate Collected By CWY(Wylie City) 0.848900(2016 Rate) Collin County Tax Office GCN(Collin County) 0.208395(2016 Rate) Collin County Tax Office JCN(Collin College) 0 081222(2016 Rate) Collin County Tax Office SWY(Wylie ISD) 1 640000(2016 Rate) Collin County Tax Office Improvements Land Segments Improvement#1 Commercial Land Segment#1 Office State Code F1 (Office Commercial Real) State Code F1 (Office Commercial Real) Homesite No Homesite No Market Value Market Value Total Main Area 6,103 sq.ft. Ag Use Value n/a Detail# Type Year Built Sq.Ft. Land Size 0.6210 acres 27,051 sq.ft. 1 MA-Main Area 2015 3,703 2 CAN-Canopy 2015 83 3 CAN-Canopy 2015 85 4 MA-Main Area 2015 2,400 Improvement#2 Commercial http://collincad.org/propertysearch?prop=2677013&year=2017 2/20/2017 Collin CAD - Property Search Page 2 of 2 State Code Fl (Office Commercial Real) Homesite No Market Value Total Main Area n/a Detail# Type Year Built Sq.Ft. 1 CON-Concrete Paving 2015 10,000 Value History Year Improvement Land Market Ag Loss Appraised HS Cap Loss Assessed 2016 $932,515 $229,931 $1,162,446 $0 $1,162,446 $0 $1,162,446 2015 $0 $229,931 $229,931 $0 $229,931 $0 $229,931 2014 $0 $229,931 $229,931 $0 $229,931 $0 $229,931 2013 $0 $229,931 $229,931 $0 $229,931 $0 $229,931 2012 $0 $229,931 $229,931 $0 $229,931 $0 $229,931 Deed History Deed Date Seller Buyer Instr# Volume/Page 04/29/2015 KUMAR VINAY DDS VIAA PROPERTIES LLC 20150501000504900 03/29/2011 CAMELBACK DEVELOPMENT LLC KUMAR VINAY DDS 20110412000378940 SB 541-Amends Section 25.027 of the Property Tax Code,effective September 1,2005 RESTRICTION ON POSTING DETAILED IMPROVEMENT INFORMATION ON INTERNET WEBSITE: Information in appraisal records may not be posted on the Internet if the information is a photograph,sketch,or floor plan of an improvement to real property that is designed primarily for use as a human residence.This section does not apply to an aerial photograph that depicts five or more separately owned buildings. HB 394 - Amends Section 25.027 of the Property Tax Code,effective September 1,2015 RESTRICTION ON POSTING AGE RELATED INFORMATION ON INTERNET WEBSITE: Information in appraisal records may not be posted on the Internet if the information indicates the age of a property owner,including information indicating that a property owner is 65 years of age or older. http://collincad.org/propertysearch?prop=2677013&year=2017 2/20/2017 Collin CAD - Property Search Page 1 of 2 Property Search Property ID: 2598922 - Tax Year: 2017 General Information Owner Information Property ID 2598922 Owner ID 655481 Property Status Active Owner Name(s) Wylie Village Dentistry Pa Geographic ID P-9000-206-5815-1 Exemptions None Property Type Personal Percent Ownership 100.00% Property Address 115 S Birmingham St#00100 Wylie,TX 75098 Mailing Address 115 S Birmingham St#100 Wylie,TX 75098-3935 DBA Name Wylie Village Dentistry Pa Total Land Area n/a 2017 Value Information Total Improvement Main Area n/a Abstract/Subdivision Value information for Property ID 2598922 in the 2017 tax year is unavailable.Value information for prior years may be Primary State Code L1 (Tangible Commercial Personal) available in the Value History section below. Legal Description BPP at 115 S Birmingham St Entities Taxing Entity Tax Rate Collected By CWY(Wylie City) 0.848900(2016 Rate) Collin County Tax Office GCN(Collin County) 0.208395(2016 Rate) Collin County Tax Office JCN(Collin College) 0.081222(2016 Rate) Collin County Tax Office SWY(Wylie ISD) 1.640000(2016 Rate) Collin County Tax Office Improvements Land Segments Our records don't show any improvement data for Property ID Our records don't show any land data for Property ID 2598922 2598922 in the year 2017. in the year 2017. Value History Year Improvement Land Market Ag Loss Appraised HS Cap Loss Assessed 2016 $0 $0 $99,600 $0 $99,600 $0 $99,600 2015 $0 $0 $79,651 $0 $79,651 $0 $79,651 2014 $0 $0 $79,651 $0 $79,651 $0 $79,651 2013 $0 $0 $79,776 $0 $79,776 $0 $79,776 2012 $0 $0 $85,351 $0 $85,351 $0 $85,351 http://collincad.org/propertysearch?prop=2598922&year=2017 2/20/2017 Collin CAD - Property Search Page 2 of 2 Deed History Deed Date Seller Buyer Instr# Volume/Page SB 541-Amends Section 25.027 of the Property Tax Code,effective September 1,2005 RESTRICTION ON POSTING DETAILED IMPROVEMENT INFORMATION ON INTERNET WEBSITE: Information in appraisal records may not be posted on the Internet if the information is a photograph,sketch,or floor plan of an improvement to real property that is designed primarily for use as a human residence.This section does not apply to an aerial photograph that depicts five or more separately owned buildings. HB 394 -Amends Section 25.027 of the Property Tax Code,effective September 1,2015 RESTRICTION ON POSTING AGE RELATED INFORMATION ON INTERNET WEBSITE: Information in appraisal records may not be posted on the Internet if the information indicates the age of a property owner,including information indicating that a property owner is 65 years of age or older. http://collincad.org/propertysearch?prop=2598922&year=2017 2/20/2017 Welcome to Collin County, Texas Online Page 1 of 2 Search: 4 1 n ►WN Local Weather VIA rJ �I �� :. N r !M.� ! I COL L 1 _ _... n First in growth. second to none Doing Business Living & Visiting Government Online Services County Directory Print Friendly Version (Property Tax Record Kenneth L.Maun Collin County Tax Assessor Collector 2300 Bloomdale Rd.Ste 2324 McKinney,TX 75071 Ph:972-547-5020 ` New Search Account: R116600300BR1 Acres: 0.621 2016 Values APD: 2677013 Yr Built: 0 Improvement Non-Home Site 932515 Location: 0000115S BIRMINGHAM ST Sq Ft: 0 Land Non-Home Site 229931 Legal: KELLERS#1(CWY),BLK 3,LOT Def.Start: NONE 2016 Exemptions 8R,.621 ACRES;REPLAY Def.End: NONE Owner: VIAA PROPERTIES LLC Roll: R 1909 BAYSIDE DR UDI: 100% WYLIE TX 75098--780 Click on the e-Statement button to view Total Tax Due. Click on the e-Payment button to make a credit card or eCheck payment. l All yeor5 i 1 Tex Estimator] l e-Payment 1 I e-Statement 1 Year Unit Levy Amount Levy Penalty Interest Col Total Receipt Amount Paid Due Penalty Due Date 2016 01 2,422.48 2,592 05 0.00 0 00 0.00 0.00 0.00 2/14/2017 2016 27 9,868.00 10,558.76 0.00 0.00 0.00 0.00 0.00 2/14/2017 2016 60 944.16 1,010.25 0.00 0.00 0 00 0.00 0.00 2/14/2017 2016 85 19,064.11 20,398.60 0.00 0.00 0.00 0.00 0.00 2/14/2017 2016 32,298.75 34,559.66 0 00 0 00 0.00 0.00 0.00 Totals http://taxpublic.collincountytx.gov/webcollincounty/accountsearch.htm 3/15/2017 Welcome to Collin County,Texas Online Page 2 of 2 Locations I Sitemap I Webmail I Privacy&Accessibility I En Espafiol I Website Feedback Copyright©2013 Collin County Texas• All Rights Reserved • 972.548.4100(McKinney) • 972.424.1460(Metro) http:lltaxpublic.collincountytx.gov/webcollincountylaccountsearch.htm 3/15/2017 Welcome to Collin County, Texas Online Page 1 of 1 Search: 1 [1N Local Weather 110454 fr� +' ' , � I * cau rr . _ _ ;.... , . . . .1.-:.,....: r/tic 'Ill: j 11 • First in growth, second to none , _.. __ Doing Business Living & Visiting Government Online Services County Directory a Print Friendly Version_ (Property Tax Record Kenneth L.Maun Collin County Tax Assessor Collector 2300 Bloomdale Rd.Ste 2324 McKinney,TX 75071 Ph:972-547-5020 L New Search j Account: P900020658151 Acres: 0.000 2016 Values APD: 2598922 Yr Built: 0 Personal 99600 Location: 0000115S BIRMINGHAM ST Sq Ft: 0 2016 Exemptions Legal: BPP AT 115 S BIRMINGHAM ST Def.Start: NONE Def.End: NONE Owner: WYLIE VILLAGE DENTISTRY PA Roll: P 115 S BIRMINGHAM ST# 100 UDI: 100% WYLIE TX 75098--393 Click on the e-Statement button to view Total Tax Due. Click on the e-Payment button to make a credit card or eCheck payment. All yVara L Tex Estimator j c-pavmjrtt _I L e-Statement j Year Unit Levy Amount Levy Penalty Interest Col Total Receipt Amount Paid Due Penalty Due Date 2016 01 228.32 244 31 0.00 0.00 0,00 0.00 0.00 2/13/2017 2016 27 930.05 995.16 0.00 0.00 0.00 0.00 0.00 2/13/2017 2016 60 88.99 95.22 0.00 0.00 0.00 0.00 0.00 2/13/2017 2016 85 1,796.78 1,92254 0.01 0.00 0.00 0.00 0.01 2/13/2017 20163,044.14 3,257 23 0 01 0.00 0.00 0.00 0.01 Totals Locations I Sitemap I Webmail I Privacy&Accessibility I En Espafiol I Website Feedback Copyright©2013 Collin County Texas • All Rights Reserved • 972.548.4100(McKinney) . 972.424.1460(Metro) http://taxpublic.collincountytx.gov/webcollincounty/accountsearch.htm 3/15/2017 Wylie Economic Development Corporation MEMORANDUM TO: WEDC Board of Directors FROM: Samuel Satterwhite, Executive Director4 441, SUBJECT: Getset, LLC Performance Agreement DATE: March 15, 2017 Issue Consider and act upon an amendment to a Performance Agreement between Getset, LLC. and the WEDC. Analysis In order to receive incentive payment 2 of 3 in the amount of$10,000, Getset, LLC was required to meet the following requirements: 1) Provide documentation to the WEDC's satisfaction that there is a cumulative real and business personal property value on the Project of not less than$1,175,000; and 2) Certify that all ad valorem property taxes due were paid in full no later than January 31, 2017. Getset,LLC is in compliance with the terms of the performance agreement having a real property valuation of$937,428 and a business personal property valuation of$815,551 for a total taxable valuation of$1,752,979. Property taxes for business personal property were paid on 1/30/17 but real property taxes were inadvertently overlooked and were not paid until March 15, 2017. Given that Getset, LLC is current on property taxes, penalties and interest, and has complied with all other terms of the Performance Agreement, staff believes that the spirit of the agreement has been upheld and recommends that the Board approve a First Amendment to the agreement allowing for an extension of the time period by which real property ad valorem property taxes and fees must be paid to March 15, 2017. Recommendation Staff recommends that the WEDC Board of Directors approve a First Amendment to Performance Agreement extending the date by which Getset, LLC must have real property ad valorem property taxes paid to March 15, 2017. M Getset, LLC March 15, 2017 Page 2 of 2 Attachments Performance Agreement Real Property Appraisal Business Personal Property Appraisal Tax Statement PERFORMANCE AGREEMENT Between WYLIE ECONOMIC DEVELOPMENT CORPORATION And GETSET,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 Getset,LLC a Wyoming Corporation(the"Company"). RECITALS WHEREAS, the Company is desirous of making real and personal property improvements in the form of a 6,700 square foot auto parts distribution center (the "Project"). The project will have an estimated valuation of One Million One Hundred Seventy Five Thousand Dollars ($1,175,000) and will be located at 1303 Century Way in Wylie, Texas (the "Facility"); and WHEREAS, the Company has requested that the WEDC provide economic assistance to offset the cost of the construction and acquisition of inventory for the Project and other expenses associated with constructing the Facility in the City of Wylie, Texas; and WHEREAS, the construction of the Project in the City of Wylie, Texas will ultimately create "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 Thirty Five Thousand Dollars ($35,000.00) (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 February 1, 2018. Page 1 of 5 C:\Users\Sam Satterwhite\Documents\Word Fi1es\NAPA\Performance Agreement.doc Upon meeting the qualifications and requirements (the "Performance Requirements"), the Company shall be entitled to the following Economic Development Incentives: Economic Development Incentive Payment Schedule: Expected Cost/Value of WEDC Total WEDC Eligibility Year Incentive Improvements Incentive Incentive Expiration 2015 No. 1 $575,000 $15,000 $15,000 5-1-2015 2017 No. 2 $1,175,000 $10,000 $25,000 2-28-2017 2018 No. 3 $1,775,000 $10,000 $35,000 2-28-2018 II. Performance Requirements for Economic Development Incentive. a. Incentive No. 1: An Economic Development Incentive of Fifteen Thousand Dollars ($15,000) will be paid to Company upon completion of the following Performance Requirements for Incentive No. 1: 1) Receipt of documentation by WEDC supporting the construction of a six thousand seven hundred (6,700) square foot commercial building as evidenced by a Certificate of Completion or a Certificate of Occupancy issued by the City of Wylie on or before May 1, 2015, approval of said documentation at the sole and absolute discretion of the WEDC; and 2) Receipt of documentation by WEDC supporting a minimum construction cost of the project of Five Hundred Seventy Five Thousand Dollars ($575,000) as evidenced by (a) a building permit issued by the City of Wylie evidencing the required minimum construction cost, and (b) paid construction invoices supporting the minimum construction cost, approval of said documentation at the sole and absolute discretion of the WEDC; and 3) Company is current on all ad valorem taxes and other property taxes due on the Facility by January 31 of the year after they are assessed and provide written notice and evidence of such payment to WEDC in a form satisfactory to WEDC. 4) Eligibility expiration for the Company to qualify for this Incentive No. 1 is May 1, 2015. b. Incentive No. 2: An Economic Development Incentive of Ten Thousand Dollars ($10,000) will be paid to Company upon completion of the following Performance Requirements for Incentive No. 2: 1) Receipt of documentation by WEDC supporting a minimum valuation of One Million One Hundred Seventy Five Thousand Dollars ($1,175,000) for Page 2 of 5 C:\Users\Sam Sattcrwhite\Documents\Word Files\NAPA\Performance Agreement.doc a real and personal property located at 1303 Century Way, Wylie, Texas as evidenced a certified appraisal issued by the Collin County Central Appraisal District, approval of said documentation at the sole and absolute discretion of the WEDC; and; 2) Company has paid all ad valorem taxes and other property taxes due on the Project by January 31 of the year after they are assessed and provide written notice and evidence of such payment to WEDC in a form satisfactory to WEDC by February 28 of the year after the taxes are assessed: and 3) Eligibility expiration for the Company to qualify for this Incentive No. 2 is February 28,2017. c. Incentive No. 3: An Economic Development Incentive of Ten Thousand Dollars ($10,000) will be paid to Company upon completion of the following Performance Requirements for Incentive No. 3: 1) Receipt of documentation by WEDC supporting a minimum valuation of One Million One Hundred Seventy Five Thousand Dollars ($1,175,000) for real property located at 1303 Century Way, Wylie, Texas as evidenced a certified appraisal issued by the Collin County Central Appraisal District, approval of said documentation at the sole and absolute discretion of the WEDC; and; 2) Company has paid all ad valorem taxes and other property taxes due on the Project by January 31 of the year after they are assessed and provide written notice and evidence of such payment to WEDC in a form satisfactory to WEDC by February 28 of the year after the taxes are assessed: and 3) Eligibility expiration for the Company to qualify for this Incentive No. 3 is February 28,2018. III. WEDC Payment of Reimbursement Incentives. Subject to the terms of this Agreement, the WEDC shall pay the Incentives within approximately 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 in addition to all future Economic Development Incentive payments being voided 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. Page 3 of 5 C:\Users\Sam Satterwhite\Documents\Word Files\NAPA\Performance Agreement.doc 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 February 28, 2018. 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 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 advance shall not be forgiven 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, or 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. Page 4 of 5 C:\Users\Sam Satterwhite\Documents\Word Files\NAPA\Performance Agreement.doc 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 South Highway 78 Wylie, Texas 75098 COMPANY: Getset,LLC 701 Legend Trail Wylie, TX 75098 Attention: Christopher Tilton 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. r FA-4%• EXECUTED this day of August,2014. WEDC: Wylie Economic Development Corporation Samuel D.R. Satterwhite, Executive Director COMPANY: 1 Getset, LLC 13y ;/ V/F E'hristophcr Tilton, Member Page 5 of 5 C:\Users\Sam Satterwhite\Documents\Word Files\NAPA\Performance Agreement.doc Collin CAD - Property Search Page 1 of 2 Property Search Property ID: 2701206 - Tax Year: 2017 General Information Owner Information Property ID 2701206 Owner ID 934982 Property Status Active Owner Name(s) Getset Texas LLC Geographic ID R-2103-00C-01RA-1 Exemptions None Property Type Real Percent Ownership 100.00% Property Address 1303 Century Way Wylie,TX 75098 Mailing Address Po Box 1451 Cheyenne,WY 82003-1451 DBA Name Napa Auto Parts Total Land Area 30,292 sq.ft. 2017 Value Information Total Improvement Main Area 6,915 sq.ft. Abstract/Subdivision CenturyBusiness Park Value information for Property ID 2701206 in the 2017 tax year is unavailable.Value information for prior years may be available in the Value History section below. Primary State Code F1 (Real Commercial) Legal Description Century Business Park, Blk C, Lot 1 r-a, .6954 Acres Entities Taxing Entity Tax Rate Collected By CVVY(Wylie City) 0.848900(2016 Rate) Collin County Tax Office GCN(Collin County) 0.208395(2016 Rate) Collin County Tax Office JCN(Collin College) 0.081222(2016 Rate) Collin County Tax Office SWY(Wylie ISD) 1.640000(2016 Rate) Collin County Tax Office Improvements Land Segments Improvement#1 Commercial Land Segment#1 Commercial State Code F1 (Real Commercial) State Code F1 (Real Commercial) Homesite No Homesite No Market Value Market Value Total Main Area 6,915 sq.ft. Ag Use Value n/a Detail# Type Year Built Sq.Ft. Land Size 0.6954 acres 30,292 sq.ft. 1 MA-Main Area 2015 6.915 Improvement#2 Commercial State Code F1 (Real Commercial) Homesite No http://collincad.org/propertysearch?prop=2701206&year=2017 2/10/2017 Collin CAD - Property Search Page 2 of 2 Market Value Total Main Area n/a Detail# Type Year Built Sq.Ft. 1 CON-Concrete Paving 2015 20,000 Value History Year Improvement Land Market Ag Loss Appraised HS Cap Loss Assessed 2016 $740,532 $196,896 $937,428 $0 $937,428 $0 $937,428 2015 $0 $196,896 $196,896 $0 $196,896 $0 $196,896 2014 $0 $189,323 $189,323 $0 $189,323 $0 $189,323 Deed History Deed Date Seller Buyer Instr# Volume/Page 11/25/2014 GETSET PROPERTIES LLC GETSET TEXAS LLC 20141201001303000 04/03/2014 BCF ENTERPRISES INC GETSET PROPERTIES LLC 20140404000322530 02/21/2014 *"n/a*" BCF ENTERPRISES INC 20140228010000670 2014/100 SB 541-Amends Section 25.027 of the Property Tax Code,effective September 1,2005 RESTRICTION ON POSTING DETAILED IMPROVEMENT INFORMATION ON INTERNET WEBSITE: Information in appraisal records may not be posted on the Internet if the information is a photograph,sketch,or floor plan of an improvement to real property that is designed primarily for use as a human residence.This section does not apply to an aerial photograph that depicts five or more separately owned buildings. HB 394 -Amends Section 25.027 of the Property Tax Code,effective September 1,2015 RESTRICTION ON POSTING AGE RELATED INFORMATION ON INTERNET WEBSITE: Information in appraisal records may not be posted on the Internet if the information indicates the age of a property owner,including information indicating that a property owner is 65 years of age or older. http://collincad.org/propertysearch?prop=2701206&year=2017 2/10/2017 Collin CAD -Property Search Page 1 of 2 Property Search Property ID: 2729699 - Tax Year: 2017 General Information Owner Information Property ID 2729699 Owner ID 975463 Property Status Active Owner Name(s) Xpress Auto And Truck Supply Inc Geographic ID P-9000-216-2435-1 Christopher M Tilton Property Type Personal Exemptions None Property Address 1303 Century Way Percent Ownership 100.00% Wylie,TX 75098 Mailing Address Po Box 2036 DBA Name Napa Auto&Truck Parts Wylie,TX 75098-2036 Total Land Area n/a Total Improvement Main Area n/a 2017 Value Information Abstract/Subdivision Value information for Property ID 2729699 in the 2017 tax year PrimaryState Code L1 (Tangible Commercial Personal) is unavailable.Value information for prior years may be ( 9 available in the Value History section below. Legal Description BPP at 1303 Century Way Entities Taxing Entity Tax Rate Collected By CWY(Wylie City) 0.848900(2016 Rate) Collin County Tax Office GCN(Collin County) 0.208395(2016 Rate) Collin County Tax Office JCN(Collin College) 0.081222(2016 Rate) Collin County Tax Office SWY(Wylie ISD) 1.640000(2016 Rate) Collin County Tax Office Improvements Land Segments Our records don't show any improvement data for Property ID Our records don't show any land data for Property ID 2729699 2729699 in the year 2017. in the year 2017. Value History Year Improvement Land Market Ag Loss Appraised HS Cap Loss Assessed 2016 $0 $0 $815,551 $0 $815,551 $0 $815,551 Deed History Deed Date Seller Buyer Instr# Volume/Page http://collincad.org/propertysearch?prop=2729699&year=2017 2/10/2017 Collin CAD -Property Search Page 2 of 2 SB 541-Amends Section 25.027 of the Property Tax Code,effective September 1,2005 RESTRICTION ON POSTING DETAILED IMPROVEMENT INFORMATION ON INTERNET WEBSITE: Information in appraisal records may not be pasted on the Internet if the information is a photograph,sketch,or floor plan of an improvement to real property that is designed primarily for use as a human residence.This section does not apply to an aerial photograph that depicts five or more separately owned buildings. HB 394 -Amends Section 25.027 of the Property Tax Code,effective September 1,2015 RESTRICTION ON POSTING AGE RELATED INFORMATION ON INTERNET WEBSIT E: Information in appraisal records may not be posted on the Internet if the information indicates the age of a property owner,including information indicating that a property owner is 65 years of age or older. http://collincad.org/propertysearch?prop=2729699&year=2017 2/10/2017 Welcome to Collin County, Texas Online Page 1 of 2 Search: Goj Local Weather WI ?- coudrl 'll k 1•�f 1.7 • .`1a 4f- I First in growth. second to none � y �'.--.,�.. �.� ._. +_ •� - _'tom.. ._ Doing Business Living & Visiting Government Online Services + County Directory Print •Friendly Version dProperty Tax Record Kenneth L.Maun Collin County Tax Assessor Collector 2300 Bloomdale Rd.Ste 2324 McKGnney,TX 75071 Ph:972-547-5020 I Mew S4lrch .J Account: P900021624351 Acres: 0.000 2016 Values APD: 2729699 Yr Built; 0 Personal 815551 Location: 0001303CENTURY WAY Sq Ft: 0 2016 Exemptions Legal: BPP AT 1303 CENTURY WAY Def.Start: NONE Def.End: NONE Owner: XPRESS AUTO AND TRUCK SUPPLY Roll: P INC UDI: 100% CHRISTOPHER M TILTON PO BOX 2036 WYLIE TX 75098--203 Click on the e-Statement button to view Total Tax Due. Click on the e-Payment button to make a credit card or eCheck payment. j All years J I, Tax Estimator) t a-Payment ] L e-Statement J Year Unit Levy Amount Levy Penalty Interest Col Total Receipt Amount Paid Due Penalty Due Date 2016 01 1,699.57 1,699.57 0.00 0.00 0.00 0.00 0.00 1/30/2017 2016 27 6,923.21 6,923.21 0.00 0.00 0.00 0.00 0.00 1/30/2017 2016 60 662.41 662.41 0.00 0.00 0.00 0.00 0.00 1/30/2017 2016 85 13,375.04 13,375.04 0.00 0.00 0.00 0 00 0.00 1/30/2017 2016 22,660.23 22,660.23 0.00 0.00 0.00 0 00 0.00 Totals http://taxpublic.collincountytx.gov/webcollincounty/accountsearch.htm 3/15/2017 Welcome to Collin County, Texas Online Page 2 of 2 Locations I Sitemap I Webmail I Privacy&Accessibility I En Espanol I Website Feedback Copyright @ 2013 Collin County Texas • All Rights Reserved • 972.548.4100(McKinney) • 972.424.1460(Metro) http:lltaxpublic.collincountytx.bov/webcollincountylaccountsearch.htm 3/15/2017 311512017 Certified Payments-Payment Screens-Step 10 CERTIFIED PAYMENTS-PRINT RECEIPT Cain Canty,TX Property Toot 5475020 Payment ID Property Tax Payment Conv Total Status Account Number AmouN Fee 100140664544 R210300c91RA1 S213,390.01 $1.50 528,192.31 0311J17 e 2.59PM $26,390.81 $1.50 $28,392.31 BUREAU INFORMATION BILLING INFORMATION Frost Name labs Fast Name Laurie Middle Name Middle Name Last Name Triton Last Name Ti1ron Name Suffix Noma Suffix TaepI ee 972-442-6272 Telephone 972-142-6272 Adaress 1303 Century Way Address P 0 Box 2036 CRy WYLIE City WYLIE Slate Texas Slate Texas Zip Cods 75096 ZIp Coda 75096 Country United States Country United States Rating Number xxxxx0025 Account Number mxxxx9137 Email Address teurieewyllenape.com laps// ertifiedpeymetds.net/PaymentWizerd 10.aspx 1/1 Wylie Economic Development Corporation MEMORANDUM TO: WEDC Board of Directors FROM: Samuel Satterwhite, Executive Directo / <V SUBJECT: Staff Report DATE: March 17, 2017 Issue Staff report: review issues surrounding WEDC Performance Agreement Summary, Environmental Activity Summary, Meeting Date/Time, Highway 78 WEDC Pad Sites, F.M. 544 pad sites, Local Entrepreneur Focus Group, Promotional Activities, and regional housing starts. Analysis As a reminder to Board members, the Board may not discuss an item which is not specifically identified on the agenda. Only those items listed above can be discussed. Should any Board member want an issue be placed on the agenda at any time prior to a Board meeting,please contact the WEDC President or staff. WEDC Performance Agreement Summary Attached for the Board's review is a summary of all outstanding Performance Agreements including: ACG Texas LP, All State Fire Equipment, B&B Theatres Operating Company, Clark Street Development, Dank Real Estate, Exco Extrusion Dies, Freudiger Holdings, Getset, KREA Acquisition, Mil-Tib, McClure Partners, Patna Properties, REVA Hospitality, Ronald P. and Carole A. Trout, T.W. Snider, VIAA Properties, Von Runnen Holdings, Wedge Corporation, Woodbridge Crossing (Note: Ascend received their final incentive payment in February and was removed from the summary report). Woodbridge Crossing Attached for the Board's review is the Sales Tax Reimbursement Report which identifies all sales taxes received through January 2017 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. $4,122,144.12 in reimbursement has been earned through February 2017 with net receipts of $3,354,807.37 after reimbursements. As well, it is estimated that $4.1 mm has been paid in ad valorem taxes to the City of Wylie (excluding the WISD). As shown on the Sales Tax WEDC- Staff Report March 17, 2017 Page 2 of 3 Reimbursement Report, $184,818.23 was generated in sales tax in December 2016 versus $198,375.98 in December 2015. This represents 6.83% decrease over 2015 receipts. Staff could find no obvious reason for this decrease in revenue during the month of December 2016 with overall sales tax for the community up 6.35% for the comparable period. Environmental Activity Report Attached for the Board's review is 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 Mann Made, K&M, Business Way, 111 N.Ballard, 908 Kirby,201 Industrial Court, is processing the VCP application for the Commerce property, and processing the Municipal Setting Designation through the City. Meeting Date/Time Staff would like for the Board to consider a mid-week Board Meeting date for regularly scheduled meetings. A Tuesday or Wednesday meeting allows for a Friday posting and packet submittal providing the Board more time to review information (assuming staff gets packets out on time). Should this be of interest to the Board an action item can be placed on the next Agenda for consideration. The Board could also consider a mid-day meeting time if an early Christmas present is possible!! Highway 78 WEDC Pad Sites In approximately three to four weeks the following tasks will be completed: CFA property platted and filed at County, Seller's Work (decal lanes, median, access drive) completed, CFA/WEDC site enrolled in the Voluntary Clean-Up Program, CFA site plan approved, and CFA construction plans approved by City of Wylie. The above list represents all WEDC responsibilities required under the Contract along with all City approvals. The end result is that closing could take place within four to six weeks, right at two years from when the WEDC met with CFA at the National ICSC Conference. F.M. 544 pad sites Environmental and flood plane activities are progressing according to schedule. Within two weeks staff should receive confirmation from the restaurant prospect the WEDC has been pursuing regarding their intention to move forward. Mr. Greiner is reviewing the EPA Ready for Reuse Program requirements to ensure that any proposed sale or site development will not be delayed. Finally, City and WEDC staff are reviewing the requirements surrounding back taxes owed to the City, WISD, County, and College from the Chemical Recycling tax foreclosure along with the process by which the City will convey title to future projects. Local Entrepreneur Focus Group Mr. Greiner is creating an Entrepreneurs Focus Group to build a local climate of support and celebrate/encourage entrepreneurship. The WEDC will identify local entrepreneurs and engage with them by facilitating networking opportunities and small business workshops with various speakers and discussion topics relevant to their efforts. The business community and their partners WEDC- Staff Report March 17, 2017 Page 3 of 3 are aware of entrepreneurs in Wylie and the surrounding communities, but there is no concerted effort to help them succeed. This program will bring entrepreneurs, mentors, and small business experts together to collaborate and help each other. Each entrepreneur is unique,but they face many of the same challenges. Our goals will be to: • Identify local entrepreneurs through community outreach and social media • Help entrepreneurs with a small business development strategy • Facilitate quarterly meetings and setup a small business support network • Promote various options for Training, Resources, and Assistance through local partners: o Small Business Center— Smith Public Library o North Texas SBDC—Collin College Small Business Development Center o Financing & Small Business Lending • Partner with the WISD to incorporate entrepreneurship training and advance entrepreneurial spirit among our youth • Explore options for a Small Business Incubator • Help local businesses grow and expand locally Promotional Activities To facilitate networking with community/business stake holders and prospects, the WEDC has a '/4 interest in Maverick's Season tickets for the 2016-17 Season. A spreadsheet detailing the use of those tickets is attached for the Board's review. Regional Housing Starts Thirty-six single-family homes were permitted in Wylie in February 2017. Sachse, Lavon, and Murphy permitted a combined eighteen homes with Inspiration permitting twelve over the same period. No action is requested by staff for this item. Attachments Performance Agreement Summary W&M Activity Report Promotional Events Log Regional Housing Permits Woodbridge Crossing Sales Tax Reimbursement Report Filing Allocation City of 4B WEDC Applicable WEDC City Total Period Period Wylie (1%) (0.5%) (0.5%) Total Rate (%) Reimbursement Reimbursement Reimbursement Oct-09 Dec-09 $17,612.55 $8,806.27 $8,806.27 $35,225.09 0.85 7,485.33 $14,970.66 $22,455.99 Nov-09 Jan-10 21,995.30 10,997.65 10,997.65 43,990.60 0.85 9,348.00 18,696.01 28,044.01 Dec-09 Feb-10 40,289.26 20,144.63 20,144.63 80,578.52 0.85 17,122.94 34,245.87 51,368.81 Sub-Total 159,794.21 33,956.27 67,912.54 101,868.81 Jan-10 Mar-10 16,017.96 8,008.98 8,008.98 32,035.92 0.85 6,807.63 13,615.27 20,422.90 Feb-10 Apr-10 18,392.59 9,196.29 9,196.29 36,785.17 0.85 7,816.85 15,633.70 23,450.55 Mar-10 May-10 24,382.07 12,191.03 12,191.03 48,764.13 0.85 10,362.38 20,724.76 31,087.13 Sub-Total 117,585.22 24,986.86 49,973.72 74,960.58 Apr-10 Jun-10 16,991.53 8,495.76 8,495.76 33,983.05 0.85 7,221.40 14,442.80 21,664.19 May-10 Jul-10 19,588.24 9,794.12 9,794.12 39,176.48 0.85 8,325.00 16,650.00 24,975.01 Jun-10 Aug-10 24,662.64 12,331.32 12,331.32 49,325.28 0.85 10,481.62 20,963.24 31,444.87 Sub-Total 122,484.81 26,028.02 52,056.04 78,084.07 Jul-10 Sep-10 18,344.56 9,172.28 9,172.28 36,689.12 0.85 7,796.44 15,592.88 23,389.31 Aug-10 Oct-10 20,401.73 10,200.87 10,200.87 40,803.46 0.85 8,670.74 17,341.47 26,012.21 Sep-10 Nov-10 22,301.22 11,150.61 11,150.61 44,602.43 0.85 9,478.02 18,956.03 28,434.05 Sub-Total 122,095.01 25,945.19 51,890.38 77,835.57 Oct-10 Dec-10 18,800.19 9,400.10 9,400.10 37,600.38 0.85 7,990.08 15,980.16 23,970.24 Nov-10 Jan-11 25,735.09 12,867.54 12,867.54 51,470.17 0.85 10,937.41 21,874.82 32,812.23 Dec-10 Feb-11 42,668.92 21,334.46 21,334.46 85,337.83 0.85 18,134.29 36,268.58 54,402.87 Audit Adjust. Oct-10 5,065.71 2,532.86 2,532.86 10,131.42 0.85 2,152.93 4,305.85 6,458.78 Sub-Total 184,539.80 39,214.71 78,429.42 117,644.12 Jan-11 Mar-11 18,295.33 9,147.66 9,147.66 36,590.65 0.85 7,775.51 15,551.03 23,326.54 Feb-11 Apr-11 25,185.02 12,592.51 12,592.51 50,370.04 0.85 10,703.63 21,407.27 32,110.90 Mar-11 May-11 39,822.31 19,911.15 19,911.15 79,644.61 0.85 16,924.48 33,848.96 50,773.44 Sub-Total 166,605.30 35,403.63 70,807.25 106,210.88 Apr-11 Jun-11 33,456.49 16,728.25 16,728.25 66,912.98 0.85 14,219.01 28,438.02 42,657.02 Woodbridge Crossing Sales Tax Reimbursement Report Page 2 Filing Allocation City of 4B WEDC Applicable WEDC City Total Period Period Wylie (1%) (0.5%) (0.5%) Total Rate (%) Reimbursement Reimbursement Reimbursement May-11 Jul-11 50,192.64 25,096.32 25,096.32 100,385.28 0.85 21,331.87 42,663.74 63,995.62 Jun-11 Aug-11 43,639.11 21,819.56 21,819.56 87,278.22 0.85 18,546.62 37,093.24 55,639.87 Sub-Total 254,576.48 54,097.50 108,195.00 162,292.51 Jul-11 Sep-11 31,551.34 15,775.67 15,775.67 63,102.67 0.85 13,409.32 26,818.63 40,227.95 Aug-11 Oct-11 32,798.19 16;399.09 16,399.09 65,596.37 0.85 13,939.23 27,878.46 41,817.69 Sep-11 Nov-11 36,136.64 18,068.32 18,068.32 72,273.27 0.85 15,358.07 30,716.14 46,074.21 Sub-Total 200,972.31 42,706.62 85,413.23 128,119.85 Oct-11 Dec-11 31,701.68 15,850.84 15,850.84 63,403.35 0.85 13,473.21 26,946.42 40,419.64 Nov-11 Jan-12 40,631.94 20,315.97 20,315.97 81,263.88 0.85 17,268.57 34,537.15 51,805.72 Dec-11 Feb-12 66,403.17 33,201.59 33,201.59 132,806.34 0.85 28,221.35 56,442.69 84,664.04 Sub-Total 277,473.57 58,963.13 117,926.27 176,889.40 Jan-12 Mar-12 28,180.49 14,090.24 14,090.24 56,360.97 0.85 11,976.71 23,953.41 35,930.12 Feb-12 Apr-12 32,824.36 16,412.18 16,412.18 65,648.71 0.85 13,950.35 27,900.70 41,851.05 Mar-12 May-12 42,213.75 21,106.88 21,106.88 - 84,427.50 0.85 17,940.84 35,881.69 53,822.53 Sub-Total 206,437.18 43,867.90 87,735.80 131,603.70 Apr-12 Jun-12 33,749.69 16,874.85 16,874.85 67,499.38 0.85 14,343.62 28,687.24 43,030.85 May-12 Jul-12 35,756.08 17,878.04 17,878.04 71,512.15 0.85 15,196.33 30,392.66 45,589.00 Jun-12 Aug-12 43,423.09 21,711.55 21,711.55 86,846.18 0.85 18,454.81 36,909.63 55,364.44 Sub-Total 225,857.71 47,994.76 - 95,989.53 143,984.29 Jul-12 Sep-12 32,945.51 16,472.76 16,472.76 65,891.02 0.85 14,001.84 28,003.68 42,005.53 Aug-12 Oct-12 33,981.49 16,990.74 16,990.74 67,962.97 0.85 14,442.13 28,884.26 43,326.39 Sep-12 Nov-12 39,669.19 19,834.60 19,834.60 79,338.38 0.85 16,859.41 33,718.81 50,578.22 Sub-Total 213,192.37 45,303.38 90,606.76 135,910.14 Oct-12 Dec-12 61,352.09 30,676.05 30,676.05 122,704.18 0.85 26,074.64 52,149.28 78,223.91 Nov-12 Jan-13 13,760.37 6,880.18 6,880.18 27,520.73 0.85 5,848.16 11,696.31 17,544.47 Dec-12 Feb-13 68,951.35 34,475.67 34,475.67 137,902.69 0.85 29,304.32 58,608.64 87,912.96 Sub-Total 288,127.60 61,227.11 122,454.23 183,681.35 Jan-13 Mar-13 37,264.78 18,632.39 18,632.39 74,529.55 0.85 15,837.53 31,675.06 47,512.59 Woodbridge Crossing Sales Tax Reimbursement Report Page 3 Filing Allocation City of 4B WEDC Applicable WEDC City Total Period Period Wylie (1%) (0.5%) (0.5%) Total Rate (%) Reimbursement Reimbursement Reimbursement Feb-13 Apr-13 32,499.58 16,249.79 16,249.79 64,999.15 0.85 13,812.32 27,624.64 41,436.96 Mar-13 May-13 42,416.25 21,208.13 21,208.13 84,832.50 0.85 18,026.91 36,053.81 54,080.72 Sub-Total 224,361.20 47,676.76 95,353.51 143,030.27 Apr-13 Jun-13 31,950.38 15,975.19 15,975.19 63,900.76 0.85 13,578.91 27,157.82 40,736.73 May-13 Jul-13 35,623.93 17,811.97 17,811.97 71,247.86 0.85 15,140.17 30,280.34 45,420.51 Jun-13 Aug-13 44,805.27 22,402.63 22,402.63 89,610.53 0.85 19,042.24 38,084.48 57,126.71 Sub-Total 224,759.15 47,761.32 95,522.64 143,283.96 Jul-13 Sep-13 30,171.94 15,085.97 15,085.97 60,343.87 0.85 12,823.07 25,646.14 38,469.22 Aug-13 Oct-13 31,615.59 15,807.80 15,807.80 63,231.18 0.85 13,436.63 26,873.25 40,309.88 Sep-13 Nov-13 34,215.75 17,107.88 17,107.88 68,431.50 0.85 14,541.69 29,083.39 43,625.08 Sub-Total 192,006.55 40,801.39 81,602.78 122,404.18 Oct-13 Dec-13 30,192.68 15,096.34 15,096.34 60,385.36 0.65 9,812.62 19,625.24 29,437.86 Nov-13 Jan-14 40,059.94 20,029.97 20,029.97 80,119.87 0.65 13,019.48 26,038.96 39,058.44 Dec-13 Feb-14 60,106.82 30,053.41 30,053.41 120,213.63 0.65 19,534.71 39,069.43 58,604.14 Sub-Total 260,718.86 42,366.81 84,733.63 127,100.44 Jan-14 Mar-14 34,887.18 17,443.59 17,443.59 69,774.35 0.65 11,338.33 22,676.66 34,015.00 Feb-14 Apr-14 39,550.17 19,775.09 19,775.09 79,100.34 0.65 12,853.81 25,707.61 38,561.42 Mar-14 *May-14 50,095.00 25,047.50 25,047.50 100,190.00 0.65 16,280.88 32,561.75 48,842.63 Sub-Total 249,064.69 40,473.01 80,946.02 121,419.04 Apr-14 Jun-14 42,836.52 21,418.26 21,418.26 85,673.03 0.65 13,921.87 27,843.73 41,765.60 May-14 Jul-14 44,483.44 22,241.72 22,241.72 88,966.88 0.65 14,457.12 28,914.24 43,371.35 Jun-14 Aug-14 54,191.06 27,095.53 27,095.53 108,382.12 0.65 17,612.09 35,224.19 52,836.28 Sub-Total 283,022.03 45,991.08 91,982.16 137,973.24 Jul-14 Sep-14 41,601.13 20,800.56 20,800.56 83,202.25 0.65 13,520.37 27,040.73 40,561.10 Aug-14 Oct-14 46,838.76 23,419.38 23,419.38 93,677.52 0.65 15,222.60 30,445.19 45,667.79 Sep-14 Nov-14 58,574.10 29,287.05 29,287.05 117,148.19 0.65 19,036.58 38,073.16 57,109.74 Sub-Total 294,027.96 47,779.54 95,559.09 143,338.63 Oct-14 Dec-14 46,397.97 23,198.98 23,198.98 92,795.93 0.65 15,079.34 30,158.68 45,238.02 Woodbridge Crossing Sales Tax Reimbursement Report Page 4 Filing Allocation City of 4B WEDC Applicable WEDC City Total Period Period Wylie (1%) (0.5%) (0.5%) Total Rate(%) Reimbursement Reimbursement Reimbursement Nov-14 Jan-15 62,438.87 31,219.43 31,219.43 124,877.73 0.65 20,292.63 40,585.26 60,877.89 Dec-14 Feb-15 93,019.09 46,509.54 46,509.54 186,038.17 0.65 30,231.20 60,462.41 90,693.61 Sub-Total 403,711.83 65,603.17 131,206.34 196,809.52 Jan-15 Mar-15 42,919.35 21,459.67 21,459.67 85,838.69 0.65 13,948.79 27,897.57- 41,846.36 Feb-15 Apr-15 44,299.71 22,149.86 22,149.86 88,599.42 0.65 14,397.41 28,794.81 43,192.22 Mar-15 May-15 61,991.88 30,995.94 30,995.94 123,983.76 0.65 20,147.36 40,294.72 60,442.08 Sub-Total 298,421.87 48,493.55 96,987.11 145,480.66 Apr-15 Jun-15 47,156.82 23,578.41 23,578.41 94,313.63 0.65 15,325.96 30,651.93 45,977.89 May-15 Jul-15 51,820.00 25,910.00 25,910.00 103,639.99 0.65 16,841.50 33,683.00 50,524.50 Jun-15 Aug-15 63,530.67 31,765.34 31,765.34 127,061.34 0.65 20,647.47 41,294.94 61,942.40 Sub-Total 325,014.96 52,814.93 105,629.86 158,444.79 Jul-15 Sep-15 49,814.04 24,907.02 24,907.02 99,628.08 0.65 16,189.56 32,379.13 48,568.69 Aug-15 Oct-15 52,333.38 26,166.69 26,166.69 104,666.76 0.65 17,008.35 34,016.70 51,025.05 Sep-15 Nov-15 54,260.52 27,130.26 27,130.26 108,521.03 0.65 17,634.67 35,269.33 52,904.00 312,815.87 50,832.58 101,665.16 152,497.74 Oct-15 Dec-15 48,763.81 24,381.90 24,381.90 97,527.61 0.65 15,848.24 31,696.47 47,544.71 Nov-15 Jan-16 63,303.62 31,651.81 31,651.81 126,607.23 0.65 20,573.67 41,147.35 61,721.02 Dec-15 Feb-16 99,187.99 49,594.00 49,594.00 198,375.98 0.65 32,236.10 64,472.19 96,708.29 422,510.82 68,658.01 137,316.02 205,974.02 Jan-16 Mar-16 49,991.19 24,995.59 24,995.59 99,982.37 0.65 16,247.14 32,494.27 48,741.41 Feb-16 Apr-16 42,000.94 21,000.47 21,000.47 84,001.87 0.65 13,650.30 27,300.61 40,950.91 Mar-16 May-16 63,385.72 31,692.86 31,692.86 126,771.44 0.65 20,600.36 41,200.72 61,801.08 310,755.68 50,497.80 100,995.60 151,493.39 Apr-16 Jun-16 50,205.20 25,102.60 25,102.60 100,410.40 0.65 16,316.69 32,633.38 48,950.07 May-16 Jul-16 55,183.98 27,591.99 27,591.99 110,367.95 0.65 17,934.79 35,869.58 53,804.38 Jun-16 Aug-16 75,925.05 37,962.53 37,962.53 151,850.10 0.65 24,675.64 49,351.28 74,026.92 362,628.45 58,927.12 117,854.25 176,781.37 Jul-16 Sep-16 46,925.74 23,462.87 23,462.87 93,851.48 0.65 15,250.87 30,501.73 45,752.60 Woodbridge Crossing Sales Tax Reimbursement Report Page 5 Filing Allocation City of 4B WEDC Applicable WEDC City Total Period Period Wylie (1%) (0.5%) (0.5%) Total Rate (%) Reimbursement Reimbursement Reimbursement Aug-16 Oct-16 63,826.65 31,913.33 31,913.33 127,653.30 0.65 20,743.66 41,487.32 62,230.98 Sep-16 Nov-16 59,856.95 29,928.48 29,928.48 119,713.90 0.65 19,453.51 38,907.02 58,360.53 341,218.68 55,448.04 110,896.07 166,344.11 Oct-16 Dec-16 52,217.94 26,108.97 26,108.97 104,435.88 0.65 16,970.83 33,941.66 50,912.49 Nov-16 Jan-17 71,458.61 35,729.30 35,729.30 142,917.21 0.65 23,224.05 46,448.09 69,672.14 Dec-16 Feb-17 92,409.12 46,204.56 46,204.56 184,818.23 0.65 30,032.96 60,065.92 90,098.89 432,171.32 70,227.84 140,455.68 210,683.52 Totals 7,476,951.49 1,374,048.04 2,748,096.08 4,122,144.12 CSD Woodbridge Centre Sales Tax Reimbursement Report Filing Allocation City 4B WEDC WEDC Period Period 1.00% 0.50% 0.50% Total Reimbursement Jan-14 Mar-14 $500.33 $250.17 $250.17 $1,000.66 $250.17 Sub-Total 1,000.66 250.17 Feb-14 Apr-14 608.31 304.16 304.16 1,216.62 304.16 Mar-14 May-14 819.13 409.57 409.57 1,638.26 409.57 Apr-14 Jun-14 1,474.84 737.42 737.42 2,949.67 737.42 Sub-Total 5,804.55 1,451.14 May-14 Jul-14 1,856.70 928.35 928.35 3,713.39 928.35 Jun-14 Aug-14 25,686.18 12,843.09 12,843.09 51,372.36 12,843.09 Jul-14 Sep-14 1,482.27 741.14 741.14 2,964.54 741.14 Sub-Total 58,050.29 14,512.57 Aug-14 Oct-14 1,927.17 963.59 963.59 3,854.34 $963.59 Sep-14 Nov-14 32,934.65 16,467.32 16,467.32 65,869.29 16,467.32 Oct-14 Dec-14 1,998.92 999.46 999.46 3,997.84 999.46 Sub-Total 73,721.47 18,430.37 Nov-14 Jan-15 2,885.15 1,442.58 1,442.58 5,770.30 1,442.58 Dec-14 Feb-15 29,624.02 14,812.01 14,812.01 $59,248.04 $14,812.01 Jan-15 Mar-15 6,488.22 3,244.11 3,244.11 $12,976.44 $3,244.11 Sub-Total $77,994.78 $19,498.70 Feb-15 Apr-15 5,694.92 2,847.46 2,847.46 11,389.83 2,847.46 Mar-15 May-15 31,176.75 15,588.37 15,588.37 $62,353.49 $15,588.37 Apr-15 Jun-15 5,390.41 2,695.20 2,695.20 $10,780.81 $2,695.20 Sub-Total $84,524.13 $21,131.03 May-15 Jul-15 6,467.00 3,233.50 3,233.50 12,934.00 3,233.50 Jun-15 Aug-15 32,110.31 16,055.16 16,055.16 $64,220.62 $16,055.16 Jul-15 Sep-15 5,548.58 2,774.29 2,774.29 $11,097.15 $2,774.29 Sub-Total $88,251.77 $22,062.94 Aug-15 Oct-15 5,683.49 2,841.74 2,841.74 11,366.97 2,841.74 Sep-15 Nov-15 41,414.13 20,707.06 20,707.06 $82,828.25 $20,707.06 Oct-15 Dec-15 6,007.81 3,003.91 3,003.91 $12,015.62 $3,003.91 Sub-Total $106,210.84 $26,552.71 Nov-15 Jan-16 6,246.73 3,123.36 3,123.36 12,493.45 3,123.36 Dec-15 Feb-16 38,577.49 19,288.74 19,288.74 $77,154.97 $19,288.74 CSD Woodbridge Centre Sales Tax Reimbursement Report Jan-16 Mar-16 5,383.48 2,691.74 2,691.74 $10,766.95 $2,691.74 Sub-Total $100,415.37 $25,103.84 Feb-16 Apr-16 5,556.02 2,778.01 2,778.01 11,112.03 2,778.01 Mar-16 May-16 35,400.22 17,700.11 17,700.11 $70,800.43 $17,700.11 Apr-16 Jun-16 5,929.35 2,964.67 2,964.67 $11,858.69 $2,964.67 Sub-Total $93,771.15 $23,442.79 May-16 Jul-16 5,622.45 2,811.22 2,811.22 11,244.89 2,811.22 Jun-16 Aug-16 36,078.78 18,039.39 18,039.39 $72,157.55 $18,039.39 Jul-16 Sep-16 5,553.88 2,776.94 2,776.94 $11,107.76 $2,776.94 Sub-Total $94,510.20 $23,627.55 Aug-16 Oct-16 5,386.52 2,693.26 2,693.26 $10,773.03 2,693.26 Sep-16 Nov-16 45,851.97 22,925.99 22,925.99 $91,703.94 $22,925.99 Oct-16 Dec-16 5,712.60 2,856.30 2,856.30 $11,425.19 _ $2,856.30 Sub-Total $113,902.16 $28,475.54 Nov-16 Jan-17 5,534.56 2,767.28 2,767.28 $11,069.11 2,767.28 Dec-16 Feb-17 39,832.46 19,916.23 19,916.23 $79,664.92 $19,916.23 Jan-17 Mar-17 0.00 0.00 0.00 $0.00 Sub-Total $90,734.03 $22,683.51 Total $988,891.40 $247,222.85 Outstanding Performance Agreement Summary Company Performance Obligations Expiration Incentive Comment/Notes ACG Texas LP(IHOP) A. CO on 4,525 sf commercial building at a cost of $1,100,000; receipts for$35,000 on Qualified Infrastructure. 12/31/2017 $35,000 All State Fire Equipment A. CO 9,300 sf office/warehouse; construction documents for$788,000 4/15/2016 $20,000 Paid B. Valuation of$1,100,000 2/1/2017 $20,000 C. Valuation of$900,000 2/1/2018 $20,000 B&B Theatres Phase I -CO 56,000 sf, 12 screen theater; documentation of$600,000; documentation of total expend.for land, improvements and personal property of$10,000,000. 12/31/2013 $100,000 Paid Cumulative valuation amended to$7,300,000 12/31/2014 $25,000 Paid 12/31/2015 $25,000 Paid 12/31/2016 $25,000 Paid 12/31/2017 $25,000 12/31/2018 $25,000 Total Incentive not to B&B Theatres Sales Tax Reimb. Qrtly Sales Tax Reimbursement equal to .005 12-18 Annually exceed $600,000 CSD Woodbridge Phase I -Acquire property for 110,000 sf Kroger by 7/31/2016; CO by 3/31/2014 3/31/2014 $100,000 Paid Phase II-CO for 120,600 sf retail space Sales tax (completed) 3/31/2014 reimburse quarterly Phase III -CO for 127,600 sf retail space Sales tax (completed) 3/31/2017 reimburse quarterly Phase IV-CO for 134,600 sf retail space Sales tax Cumulative incentive not (completed) 3/31/2019 reimburse to exceed $1.1 mm A. CO on 5,300 sf building, documentation of Dank Real Estate(Deanan Popcorn) $600,000 construction cost 2/1/2015 $15,000 Paid B. Documentation of$1,150,000 property value 2/1/2016 $7,500 Paid Outstanding Performance Agreement Summary C. Documentation of$1,150,000 property value 2/1/2017 $7,500 Exco Extrusion Dies(Texas), Inc. A. CO on 30,000 sf building 2/24/2016 $87,000 Paid B. On an annual basis maintain appraised value of $7.55 mm, maintain Texas as principal place of business, employ 20 full time employees 2/24/2017 $20,000 Paid 2/24/2018 $20,000 2/24/2019 $20,000 2/24/2020 $20,000 Seller financing on $350,000 note,forgiven annually beginning 1-31-17 in equal amounts of $70,000 2017-2021 $350,000 Freudiger Holdings, LLC CO and Documentation supporting 5,500 sf office space and 1,800 warehouse space at a cost of $250,000 5/1/2016 $15,000 Paid Form 941 evidencing a mimimum of 75 employees employed not less than 90 days prior to CO. 5/1/2016 $25,000 Paid 10 Full time Employees,over and above the base Employment evidenced by Form 941. 5/1/2017 $30,000 Get Set, Inc. CO for 6,700 sf building and documentation of $575,000 in construction cost. 5/1/2015 $15,000 Paid Appraised Value of$1,175,000 2/28/2017 $10,000 Appraised Value of$1,175,000 2/28/2018 $10,000 KREA Acquisition, LLC A. Acquire property by 9/1/15; CO for La Quinta Inn &Suites by 3/31/17; confirm $600,000 in construction costs 3/31/2017 $100,000, Outstanding Performance Agreement Summary B. Quarterly incentive payment equal to Occupancy Tax paid to City of Wylie (start date 6 months from CO and ending 7 years from 1st Not to exceed $600,000 payment) 9/31/18 total incentive Mil-Tib GP A. Demolition of 14,344 square foot facility located at 209 S. Ballard at a cost of$76,500 confirmed via visual inspection byWEDC; documentation evidencing demolition costs of $76,500;verification current status on ad valorem taxes on property. 7/1/2017 $38,250 McClure Partners Devel. Co., LLC A. Purchase of Williford Tracts by 10/1/16; Complete demolition of all improvements, foundations& paving by 12/31/16. Removal of all debris,vehicles, inventory by 12/31/16. 12/31/2016 $25,000 Paid B. Complete construction of 6,000 sf commercial bldg w/Construction costs not less than $1,350,000. CO not later than 9/30/17. 9/30/2017 $50,000 Patna Properties, Inc. A. CO for 4,283 sf building; documentation of $700,000 in construction costs 10/1/2016 $20,000 Paid B. Appraised Value of$707,000 10/1/2017 $10,000 REVA Hospitality A. CO for a 4-story, 60,000 sf, 98 room hotel; documentation of a $9.2 mm in construction costs. 12/31/2017 $100,000 B. Quarterly incentive payment equal to Occupancy Tax paid to City of Wylie (start date 6 months from CO and ending 6 years from 1st Not to exceed $450,000 payment) 6/30/30/24 total incentive Outstanding Performance Agreement Summary Ronald P. and Carole A.Trout A. CO for 4,944 sf building; documentation $340,000 in construction costs; current on ad valorem taxes; 12/31/2017 $15,000 T.W.Snider A. CO for 4,800 sf building; current on all ad valorem taxes. 2/1/2017 $8,000 Paid B. Construction plans for 6,000 sf Bldg 3 evidenced by a building permit by March 1, 2017; CO for Bldg 3 by October 1, 2017; current on all ad valorem taxes. 10/1/2017 $42,000 VIAA Properties, LLC A. CO for 6,094 sf building; documentation $1,200,000 in construction costs 2/28/2016 $30,000 Paid B. Appraised Value of$1,000,000 2/28/2017 $20,000 Von Runnen Holdings A. CO for 12,047 sf building; documentation of $1,250,000 in construction costs. 1/1/2016 $20,000 Paid B. Appraised Value of$1,000,000 1/31/2017 $10,000 Paid C. Appraised Value of$1,000,000 1/31/2018 $10,000 Wedge Corporation A. Documentation of executed Ground Lease, Building Permit; 1/31/2014 $137,500 Loan Advance #1 B. CO for"The Rock" 12/31/2014 $137,500 Loan Advance #2 C. Evidence of Continuous Operation 12/31/2015 $91,666 Loan Advance Forgiven D. Evidence of Continuous Operation 12/31/2016 $91,666 Loan Advance Forgiven E. Evidence of Continuous Operation 12/31/2017 $91,668 Woodbridge Crossing Phase I. CO for Initial Phase including a Super 65%sales tax reimb 2009- Target by 8/1/09. 8/1/2009 2013; 85%sales tax reimb No further performance requirements. Default declared reducing maximum incentive from $12 Reimbursement mm to$6 mm. 2021 spreadsheet attached W M Environmental Program Tracking Invoiced Date Descr. of Work Proj.Total 605 Commerce Project Total: 94,810.56 Phase II 4,138.75 2/28/15 Completed Labor: Laura Foss;James Maxwell; Clay Snider; Michael Whitehead Contracted Amt:$11,500 1,967.65 2/28/15 Laboratory 4,878.30 2/28/15 Drilling 124.12 2/28/15 Misc.Supplies 151.25 2/28/15 W&M Equipment 250.00 2/28/15 Vehicle Usage P-2 12.39 8/18/15 Postage 47.50 8/31/15 Labor: Mark Smith Total 11,569.96 VCP(Vol. Cleanup Prog) 10,324.00 6/23/15 Labor: Frank Clark; Laura Foss; Hichael Henn,James Maxwell; Paul Rodusky; Mark Smith; Clay Snider; William Soderstrom; Ross Tucker; Michael Whitehead Contracted Amt: $38,000 3,325.80 6/23/15 Laboratory 1,150.00 6/23/15 Supplies/Permits 690.00 6/23/15 Other Sub-contractors 4.90 6/23/15 Misc.Supplies 1,175.75 7/14/15 Labor: Frank Clark,; Clay Snider; Michael Whitehead 2,632.35 7/14/15 Drilling 9.38 7/14/15 Postage/Shipping/Delivery 32.62 7/14/15 Misc.Supplies 13.23 7/14/15 Mileage 187.50 7/14/15 Vehicle Usage P-2 361.75 7/14/15 W&M Equipment 1,425.00 8/18/15 Labor: Shan Ahmad;James Maxwell; Clay Snider 517.50 8/18/15 Laboratory 3,041.75 8/18/15 Drilling 925.75 8/18/15 Other Sub-contractors 11.16 8/18/15 Misc. Supplies 64.63 8/18/15 W&M Equipment 125.00 8/18/15 Vehicle Usage P-2 1,066.25 8/31/15 Labor: James Maxwell; Clay Snider; Michael Whitehead W M Environmental Program Tracking 893.55 8/31/15 Laboratory 521.25 9/30/15 Labor: Shan Ahmad; Mark Smith; Clay Snider 287.50 10/31/15 Labor: Clay Snider 402.50 12/15/15 Labor: Clay Snider 631.25 12/31/15 Labor: Clay Snider, Michael Whitehead 143.75 12/31/15 Other Sub-contractors 843.75 1/31/16 Labor: Michael Henn, Mark Smith, Clay Snider 1,612.50 2/29/16 Labor: Shan Ahmad, Clay Snider 1,010.85 2/29/16 Laboratory 8.24 2/29/16 Misc. Supplies 396.14 2/29/16 Vehicles/ Equipment 983.75 3/31/16 Labor: Michael Henn,Jeremiah Roy, Clay Snider 142.50 4/30/16 Labor: Jeremiah Roy, Clay Snider Labor: Shan Ahmed,James Maxwell,Antonia Pacholczuk, Paul 3,201.25 6/30/16 Rodusky,Jeremiah Roy, Michael Whitehead, Ross Zapalac 38,163.10 APAR(Affected Property Assessment Report) 805.00 7/14/15 Labor: Clay Snider Competed 87.50 8/18/15 Labor: Michael Henn Contracted Amt: $16,000 2,676.25 8/31/15 Labor: Laura Foss; Michael Henn; Clay Snider 11.73 8/31/15 Misc.Supplies 398.50 8/31/15 Vehicle usage P-2; W&M Equipment 2,880.00 9/30/15 Labor: Shan Ahmad;James Maxwell;Antonia Pacholczuk; Clay Snider; Michael Whitehead. 536.00 10/31/15 Labor: Clay Snider; Frank Clark 38.56 10/31/15 Subcontractors: Postage &Shipping 230.00 12/15/15 Labor: Clay Snider 115.00 12/31/15 Labor: Clay Snider 3,107.50 1/31/16 Labor: Shan Ahmad, Frank Clark, Michael Henn,Jeremiah Roy, Clay Snider 350.00 4/30/16 Labor: Jeremiah Roy 195.00 5/31/16 Labor: Shan Ahmad, Clay Snider 660.00 10/31/16 Labor: Clay Snider W M Environmental Program Tracking 502.50 11/30/16 Labor: Michael Henn,Joshua Hopper, Clay Snider 173.50 12/31/16 Labor: Antonia Pacholczuk, Clay Snider 172.50 1/31/17 Labor: Michael Henn, Clay Snider, Michael Whitehead Total 12,939.54 MSD (Municipal Setting Designation) 393.75 7/14/15 Labor: Michael Henn 384.00 8/18/15 Labor- Frank Clark, Michael Henn Contracted Amt: $25,000 1,336.23 8/18/15 Aerials/Maps/Photos 195.75 8/31/15 Labor: Frank Clark, Michael Henn 1,020.00 9/30/15 Labor: Laura Foss 2,241.25 10/31/15 Labor: Frank Clark, Michael Henn; Michael Whitehead 87.50 12/15/15 Labor: Michael Henn 1,476.25 12/31/15 Labor: Frank Clark, Holly Stockton, Michael Whitehead 28.44 12/31/15 Mileage 837.50 1/31/16 Frank Clark, Michael Henn 4,292.50 2/29/16 Labor: Shan Ahmad, Frank Clark, Michael Henn,Jeremiah Roy,Clay Snider 97.75 2/29/16 Meals 1,873.75 3/31/16 Labor: Shan Ahmad, Frank Clark,Jeremiah Roy, Clay Snider, Michael Whitehead Labor: Frank Clark, Michael Henn,Jeremiah Roy, Mark Smith, Clay 1,495.00 4/30/16 Snider, Michael Whitehead 221.25 5/31/16 Labor: James Maxwell, Clay Snider 87.50 9/30/16 Labor: Clay Snider, Michael Whitehead 1,516.25 10/31/16 Labor: Frank Clark, Michael Henn, Clay Snider, Micahel Whitehead 903.75 11/30/16 Labor: Michael Henn,Joshua Hopper,Jeremiah Roy, Clay Snider Labor: Frank Clark, Michael Henn,James Maxell,Antonia 2,332.75 12/31/16 Pacholczuk, Clay Snider, Michael Whitehead 24.62 12/31/16 Postage/Shipping/Delivery 131.00 1/31/17 Labor: Frank Clark, Clay Snider Total 20,976.79 Indoor Air Sampling Contract: $3,300 470.00 4/30/16 Labor: Mark Smith, Clay Snider Completed 90.00 5/31/16 Labor: Clay Snider 1,603.75 6/30/16 Labor: Michael Henn, Clay Snider W M Environmental Program Tracking 1,472.00 6/30/16 Other Sub-Contactors: Laboratory Total: 3,635.75 Response Action Plan(RAP) 502.50 7/31/16 Labor: Joshua Hopper, Clay Snider Contract: $10,500 Labor: Frank Clark,Trudy Hasan,James Maxwell, Clay Snider, Ross 2,810.00 8/31/16 Tucker, Michael Whitehead. 36.27 8/31/16 Shipping, postage, delivery 393.75 9/30/16 Labor: Shan Ahmad 770.00 10/31/16 Labor: Michael Henn, Clay Snider, Michael Whitehead 172.50 11/30/16 Labor: Michael Henn,Joshua Hopper 45.00 1/31/17 Labor: Michael Henn Total: 4,730.02 Soil Excavation Contract: $20,000 93.00 1/31/17 Labor: Clay Snider Total 93.00 Response to TCEQ 458.75 10/31/16 Labor: Michael Henn, Clay Snider Contract: $2,500 1,841.15 10/31/16 Subcontractors: Laboratory($1,381.15), Drilling ($460) 402.50 11/30/16 Labor: Michael Whitehead Total: 2,702.40 900-908 Kirby Project Total: 19,796.09 Phase I -Contract$2,800 2,800.00 10/31/16 Completed 2,800.00 Limited Phase II- Labor: Shan Ahmad, Michael Henn,Joshua Hopper, Clay Snider, Contract$17,000 4,052.50 9/30/16 Michael Whitehead 11.18 9/30/16 Mileage 227.25 9/30/16 Vehicle Usage/W&M Equipment 937.50 10/31/16 Labor: Shan Ahmad, Michael Henn, Clay Snider, Michael Whitehead 11,450.55 10/31/16 Subcontractors: Laboratory($3,685.75), Drilling($7,764.80) 98.36 10/31/16 Misc.Supplies 218.75 10/31/16 Vehicle Usage/W&M Equipment 16,996.09 201 Industrial Ct Project Total: 2,400.00 W M Environmental Program Tracking Phase I-Contract$2,400 2,400.00 10/17/16 Completed 2,400.00 Hwy 78-CFA VCP Project Total: 1,233.00 Phase I-Contract$48,500 1,233.00 1/31/17 Labor: Frank Clark,Clay Snider, Michael Whitehead 1,233.00 Spent Contracted Total W&M Expenditures: 118,239.65 $197,500 WEDC Promotional Activities 2016-17 Mavericks Tickets Date Attendees October 3, 2016 W&M Environmental (Pre-season) October 28, 2016 Coventry Reserve - Auction Item (Pre-Season) November 6, 2016 Jim Campbell - Chairman of the Board, Lone Star Circuits November 18, 2016 Wylie Eye Center December 27, 2016 United Commercial Realty January 7, 2017 Primary Integration Systems January 30, 2017 Falcon Realty February 9, 2017 Mark Hambelton - DCU February 25, 2016 Tyler Peglow-Weitzman Regional Housing Permits Wylie Lavon 09 10 11 12 13 14 15 16 17 09 10 11 12 13 14 15 16 17 January ® 28 20 16 18 14 46 9 ElJanuary II8 El 4 © 4 6 Ella February El 18 9 ® 14 20 ® 4 36 February 4 ElUEl©m 6 ©El March 26 20 28 18 El 30 13143 ■ March 10 8 © 6 Elm 8 ©■ April 16 ® 18 29 38 10 lam■ April 6 MIME 24 El 11 um May m 26 18 20 ® 26 68 101 ■ May El 8 El 0 9 m 4 El■ June 36 24 19 lam 9 ® 58 . June lala 9 El©® 5 EN July Ella 20 19 18 29 36 34 ■ July EBBED 14 12 III. August ® 24 16 20 19 19 30 ®■ August 14 la 9 6 ©0 5 0 ■ September 38 DEE 8 m 24 18 ■ SeptemberU 0 6 El 6 © 7 0 ■ October lam 16 28 30 El® 26 ■ October © 14 4 ElO 9 5 0 ■ November El®© 14 18 20 lam■ November ®©©©ElEl 2 0 . December BE 10 16 El65 38 39 ■ December DUDE 4 © 6 0 ■ TOTAL ®o 201 230 MI 280 CB 409 ® TOTAL lam 60 mm 100 77 m® Murphy Sachse 09 10 11 12 13 14 15 16 17 09 10 11 12 13 14 15 16 17 January El 14 4 El 26 DEED January Elm 14 8 ® 18 14 16 4 February ABE 14 4 ©© 4 El February 8 10 Elm 8 29 17 BE March 4 ® 9 6 6 8 4 ©■ March BE 9 BUD 24 El.April BE 8 10 DUE 8 IN April lam 8 4 BE 12 24 ■ May num 14 ElElEl©■ May 6 EBB 10 El 6 El. June BE 6 19 In 6 El 4 . June BE 8 El14 16 38 ElmJuly mum 16 0® 4 El■ July BED 14 ® 30 12 ®■ August 6 © 4 EMI 16 ElEl. August ® 14 © 19 10 29 41 ®■ September®El 4 10 10 ©© 6 ■ September® m©lala ® 27 20 I.October 4 8 II16 16 4 0 ©■ October ®© 8 ®® 18 31 29 I. November©El©m©©El 6 ■ November 14 4 6 9 Elm 26 ®. December 14 9 8 BE 4 0 El■ December la 6 El 10 m 39 12 m■ TOTAL la® 70 MimiEl®®El TOTAL mi.mmmg 280 260 Ella Inspiration Jan Feb Marc Apr May Jun Jul Aug Sep Oct Dec Tota 15 DE 10 6 EBB 4 DI 8 mE 16 10 19 m 9 Elm 40 8 14 1 13 ©E: 17 10 ®■■■■■■■I ME Regional Housing Permits Wylie Pending Developments Sachse Pending Developments Estates of Creekside -45 ac. -63 Lots, 3 open space Jackson Hills Phase 3A-2 -55 Lots Braddock Place, Phase 2 - 185 ac. - 44 Lots Heritage Park- Phase 3 -81 Lots Kreymer Estates Phase 1 -36.475 ac. - 110 Lots Parkwood Ranch - Phase 2 -102 Lots Lewis Ranch - 53 ac. -216 Lots Jackson Hills - Phase 3B - 114 Lots Woodbridge 16 -25.083 ac. - 111 Lots Jackson Meadows- 51 Lots Dominion of Pleasant Valley-361.4 ac. -975 Lots Woodbridge- Phase 19- 148 Lots Covington Estates Ph 1 - 14.308 ac. -44 lots ETJ Bozeman Farms-780 lots remaining (145 under cons.) C & F Copeville Addition -3.515 ac 3 Lots Alanis Crossing - Phase 1 -29.292 ac- 53 Lots Geckler Addition - 14.274 ac 1 Lot Braddock Place, Phase 3 -18.322 ac. - 53 Lots, 2 open space Reyes estates - 3.61 ac 2 Lots Wilson Creek-38 ac. 140 lots Creeks Crossing -3.187 ac 2 Lots Inspiration 2B-25 ac. 76 lots Wylie ETJ ZC 2014-08 Nails-25 ac. 105 Townhomes Hunter's Cove Phase I -31.414 ac 58 Lots Bozman Farms Phase 3-50.392 ac 139 Lots Braddock Place Phase 4 -25.608 ac 77 Lots Braddock Plase Phase 3 - 18.322 ac. 53 Lots Creekside Estates Phase VII -23.267 ac. - 11 Lots Castle Park- 31.41 ac 56 Lots Inspiration Phase 1 &2 -- 53 Lots Kreymer Estates Amenity Center- 3.3 ac. 1 Lot Kreymer Estates Phase 2 -23.171 ac 60 Lots Kreymer Estates Phase 3 -29.7654 ac 74 Lots Mansions at Wylie Seniors - 13.125 ac 1 Lot Schupbach Estates-0.633 ac. 2 Lots Wooded Creek Phase 2 Amenity Center- 0.512 ac 1 Lot Creekside Estates Phase VIII -20.551 ac 65 Lots Kreymer Estates Phase 4 -27.312 ac 78 Lots Bozman Farms Phase 5-69.071 ac 198 Lots HNI Townhome Addition - 10.06 ac 104 Lots Alanis Crossing Phase II -26.239 ac 42 Lots Trailsplace Lot 6-BR & 6 C-0.256 ac 2 Lots Kreymer Park-45.57 ac 151 Lots Kreymer Estates Phase 3 -29.7654 ac 74 Lots Braddock Place Phase 5-28.019 ac Railroad Addition Block 31- 1 ac. Creekside Estates Ph 9- 12 ac Wylie Economic Development Corporation MEMORANDUM TO: WEDC Board of Directors FROM: Samuel Satterwhite, Executive Directory SUBJECT: Regional Advertising & Marketing !' DATE: March 18, 2017 Issue Discuss issues surrounding a Regional Advertising and Marketing Initiative. Analysis Within the FY 2016—2017 Budget,the WEDC Board of Directors dedicated$100,000 for regional advertising and marketing with the intent of promoting Wylie to the smaller region of Garland, Richardson, Plano, Allen, McKinney and to the larger region of the D/FW metroplex. In collaboration with City of Wylie Public Information Office, staff is proposing some specific actions to address very broad goals. First of all, what are we promoting? It is staffs belief that promoting the community from the perspective of an exceptional quality of life does not just result in relocating families. Quality of life attracts business investment because of a confidence in the market and community (growing/young population, exceptional schools, educated workforce, disposable income, highly mobile, and first-rate community services). Large manufacturing/distribution operations will be limited to KCS property on Highway 78 due to zoning limitations and land cost with the most rapidly expanding sector of the Wylie commercial market being the service/retail sector and small light industrial businesses with 5 — 10 employees. Further, with what appears to be increasing saturation of the retail market save and except restaurant options, long term opportunities still exist for office development on City-owned property on 544. So, if there could be agreement that quality of life is one of our most significant assets which enhances our ability to attract the above-mentioned business sectors, how do we go about promoting that asset to the region? The Public Information Office has been encouraging for some time the need for a `branding' exercise that would identify community strengths and develop them into a marketing campaign. This exercise would not be developing just a logo or print ads, but a theme by which we want others to identify us by. Previous and current brands include Wide Awake Wylie, the logo with the `W' pointing upward with an arrow indicating 'our stock is rising', and 'the city between the lakes'. The branding process would include several meetings with community stakeholders (Council, WEDC, Chamber, WISD, Merchants, etc.) and ideally led by a communications firm experienced in this process. WEDC—Regional Marketing March 19, 2017 Page 2 of 3 Projecting forward with how the `quality of life' message is delivered, staff believes that to randomly advertise throughout the metroplex without focus is ineffective and a waste of resources. Wylie already has in place established events that draw our target market from outside the community which have even greater potential than the current results. For example, and with increased resources(funding),Country Station Promotional Partnerships can be secured for remote broadcasts and recorded live spots to promote Bluegrass on Ballard. Similar partnerships can be secured for the Wylie Rodeo with a focus on the first night of the two-day event which is typically not attended at the same level as Saturday night. Print advertising with children's magazines promoting the Pedal Car Race. Increased funding for Facebook and print advertising promoting downtown shopping, dining and specific events. Keep in mind though that while these specific expenditures will increase attendance at events and draw more people to our market,the overriding goal is to consistently promote the brand. To begin the multi-year process of brand and community promotion, staff will be moving forward with the following: Brand Development $15,000 Brand Development—Cooksey Communications Events (Ads Designed to Promote Event and Wylie's Quality of Life) Bluegrass on Ballard $6,000 Radio Station Promotional Partnership(includes remote broadcast,recorded and live spots) $6,000 Advertising and Promotion including Facebook, DMN Guide, Connection, etc. Wylie Arts Festival $8,000 Advertising and Promotion including Facebook,DMN Guide, Connection, etc. Pedal Car Race $2,000 Full-Page Suburban Parent and DFW Child Advertising(promoting family environment) Wylie Rodeo $6,000 Country Radio Station Promotional Partnership(includes remote broadcast,recorded and live spots) Community Branding $5,600 Connection/In&Around $10,000 General advertising opportunities(DMN Guide,Facebook,American Airlines video) Publicity $3,000 Cooksey Comm. -Media Relations Support(morning shows, Wylie featured on the Plaza-WFAA) Photography/Video $6,000 Professional photographer/videographer Economic Development $7,000 NTX Magazine Full-Page Ads(x2) WEDC—Regional Marketing March 19, 2017 Page 3 of 3 Mr. Craig Kelly has assisted in developing the above and further agreed to facilitate and help implement the above activities. The branding exercise will begin most likely with a Council work session to receive general direction. The balance of efforts will be event driven. The identified line items ❑nly represent $74,000 of the budgeted $100,000. Year 2 of this multi- year campaign can be judged against the above efforts and refined accordingly. As well, Year 2 will obviously not include funding for Brand Development. Recommendation Staff has presented this Item for information only and has no recommendation for Action Wylie Economic Development Corporation MEMORANDUM TO: WEDC Board of Directors FROM: Samuel Satterwhite, Executive Director SUBJECT: Budget Amendment DATE: March 18, 2017 Issue Discuss issues surrounding a WEDC FY 2016—2017 Budget amendment. Analysis Staff is in the process of generating a WEDC budget amendment which will be brought to the Board for consideration at the next Regular Board Meeting and presented to the Wylie City Council on April 25th. Staff has preliminarily identified $718,000 in additional revenues and $648,000 in additional expenses over what was approved in July 2016. As a review, unexpended funds within typical City Departments at the end of the fiscal year are placed back in the General Fund and redistributed based upon Council priorities via the budget process. Whatever funds which are expended within the WEDC budget stay within WEDC accounts. Being that the budget process begins in April/May,it is often-time difficult to accurately identify the Unreserved Beginning Fund Balance for the next fiscal year based upon the timing of certain expenses,changing priorities and new projects, and fluctuating sales tax receipts. This can either negatively impact the WEDC budget or positively impact the budget as is the case this fiscal year. Revenue amendments are most significantly impacted by the difference between what was estimated as the 10-1-16 Unreserved Fund Balance and the actual Fund Balance. The estimated Fund Balance in May 2016 was $465,686 with the actual being$1,183,611 in October 2016. The most easily identifiable difference is the receipt of$318,000 in insurance proceeds and $131,000 in sales tax receipts over and above projections. The remaining $269,000 is most likely expenditures which were planned to be spent in FY 15-16 and actually expended in FY 16-17. Staff will more accurately identify that difference prior to the Budget Amendment in April. On the expenses side, the following line-items have unanticipated projects/programs or cost overruns have taken place within budgeted projects: WEDC—Budget Analysis March 18, 2017 Page 2 of 2 Special Services Leasehold Improvements (bathroom) 10,000 Environmental 87,000 Demolition—Dallas Whirlpool 126,000 Demolition—McMillan 10,000 Demolition—Jarrard 15,000 Auto Hail Lease Deposit 3,000 Audit& Legal CFA, Complaint, Performance Agreements 10,000 Engineering & Architectural Concept plans,plans/drawings 20,000 Debt Service Jarrard Loan 28,000 Land Acquisition McMillan, Jarrard, Dallas Whirlpool 200,000 Streets &Alleys Ballard Parking Lot 70,000 Alley 74,000 CFA Infrastructure 150,000 From a budgetary perspective only,the above cost overruns are offset this fiscal year by deferments of certain budgeted expenses for projects that will not been completed this fiscal year or incentives not fully funded: Incentives La Quinta Incentive Agreement $78,750 All-State Fire 6,000 As a further effort to offset unanticipated expenses, staff has internally reduced approximately $75,000 in expenses which will be more specifically detailed within the upcoming budget amendment in April. Staff began this as a cash flow exercise to confirm that downtown infrastructure projects, the McMillan purchase, and the budgeted $1 mm in principal reduction would not be impacted. The internal conclusion to date along with preliminary confirmation from the Finance Department is that there will not be a budget shortfall or a negative cash flow position. Recommendation The above is a discussion item only with no recommendation for action. PROJECT HITCH - IMPACT SUMMARY FOR THE CITY OF WYLIE An extsting motor ehide parts mantifac turer in Wylie is considering tin exparrsUarttotwiclurte purchasing now equipment and tering new emptoyers,As modeled in this report,Pin company plans to odd 54 7 million ii new equipment and hPe.,57 new workers earning approximately 547,000 per your The company currently simpons$14.3 million in business persowsit property and 83 1 iyaltion in reel property and employs'133 workers et en average annual Ratan/of 549,000. The,Wyk EDO is considering!some incentives related to the exparisinn,For all personal property value in excess of the threshotd(current value 6$14,31521.241,the WEUC will reimbuoise 50%of the taxes paid iniliking a tax ate of,0131119(City or Wylie rate plus the(SD 1155. Rote)for 3 years.,This reimbursement represents approximately$83,500 pied over 3 yeas, For every new lull tines employee added beyond a baseline of'133,the company v illreceive a SUMO grant,There will also be a cap on the incentive of 45 new.emptoyees or total of 176.Site plans call few 51 new workers in the first year,the maximum per-employee incentive of$45,000 is scheduled to be paid for 3 years, JOBS City of Wylie-Net Benefits Over 10 Years Amount ' • 75.0 Total Sakr5,Taxes-City. S.65„056 51.0 Direct OM Property 7axes, $0 FF&E Property Taxes $225430 AVERAGE SALARY inventory Property Toes $40,300 New Residential Property Taxes !711,749 clz, Utility Revenue '$108,899 $41,912 Direct Utility Franchise Fees S41,986 Building Permits arid Fees SO. CAPITAL INVESTMENT Hotel Occupancy roses $0 lig , MiSCellaneous Taxes&user rate, MOOS 557.7892171,29,=1055 $4.7. Onildings&Sepeornern Cast of Providing Municipal Services ($179.5097 Cost of Providing UtIlity Services 008,0711 RESIDENTIAL DEV 589.071919121;2$31 L$277,57'91 Net Benefits 5263,907 0 8 Homes • • Present It/Ohre fSti1 discount rolled $217,006 5,6 Workers Relocating Net Benefits over 10 Years nano° S80,000 S60,000 5E000 50 ,v 27/ 991 err r "Psi rrr r o f r ,J Jul 1$2.0,0001 (540,000! 2 3 4 5 6 7 8 9 Benefits 4 Costs YeaL—Net Benefits Incentive Analysis over 10 Years 871157684 Ii1178 61.6 total Pie ii TaxilnCentive Incentive Per Job Rate of Seven N)ybi'N::k Peeped(year%) $300000 $250,000 5200,000 51$0,00n $100,000 850,000 299999199992 2 3 4 5 6 7 8 9 10 Year Job CleaJion locentve -Cumulative IMO Baxnellb Total Incentive %wed rimed DataSo ince.com EXECUTIVE SUMMARY A REPORT OF THE ECONOMIC IMPACT OF PROJECT HITCH IN WYLIE, TX March 20, 2017 Prepared for: Wylie Economic ❑evelopment Corporation 250 S. Hwy 78 Wylie, TX 75098 Prepared using Total impact by . ■ :3 IMPACT '" ""� DataSource PURPOSE & LIMITATIONS This report presents the results of an analysis undertaken by Impact DataSource using Total Impact, an economic and fiscal impact analysis tool developed and supported by the Austin, TX based economic consulting firm, Impact DataSource. The Total Impact model is a software program customized for the Wylie Economic Development Corporation. The model includes estimates, assumptions, and other information developed by Impact DataSource from its independent research effort. The analysis relies on prospective estimates of business activity that may not be realized. Wylie Economic Development Corporation made reasonable efforts to ensure that the project-specific data entered into the Total Impact model reflects realistic estimates of future activity. No warranty or representation is made by Wylie Economic Development Corporation or Impact DataSource that any of the estimates or results contained in this study will actually be achieved. =1= '1 IMPACT Data rii irre Executive Summary Total Impact 2 CONTENTS Economic Impact Introduction 4 Description of the Project 4 Existing & Expanded Operations 4 Economic Impact Overview 5 Fiscal Impact Fiscal Impact Overview 7 City of Wylie 8 Collin County 9 Wylie ]SD 9 Other Taxing Districts 10 Public Support Summary of Public Support Considered 11 Methodology Overview of Methodology 14 About Impact DataSource 15 Executive Summary Total Impact 13 PROJECT HITCH I ECONOMIC IMPACT Introduction This report presents the results of an economic impact analysis performed using Total Impact,a model developed by Impact DataSource.The report estimates the impact that a potential project in the City of Wylie will have on the local economy and estimates the costs and benefits for local taxing districts over a 10-year period. Description of the Project An existing motor vehicle parts manufacturer in Wylie is considering an expansion to include purchasing new equipment and hiring new employees.As modeled in this report,the company plans to add $4.7 million in new equipment and hire 51 new workers earning approximately $42,000 per year.The company currently supports $14.3 million n lousine,;persona! property and $3.1 million in real property and employs 133 workers at an average annual salary of$49,000. The Wylie EDC is considering some incentives related to the expansion. For all personal property value in excess of the threshold (current value =$14,375,324),the WEDC will reimburse 50%of the taxes paid utilizing a tax rate of.013189 (City of Wylie rate plus the ISD l&S Rate)for 3 years.This reimbursement represents approximately$83,500 paid over 3 years. For every new full-time employee added beyond a baseline of 133,the company will receive a $1,000 grant.There will also be a cap on the incentive of 45 new employees or total of 178. Since plans call for 51 new workers in the first year,the maximum per- employee incentive of$45,000 is scheduled to be paid for 3 years. Existing & Expanded Operations The Project under analysis represents the expansion of an existing company in the City of Wylie.The existing operations currently support 133.0 direct jobs in the community and 62.6 indirect and induced jobs. The direct workers earn $48,972 per year and the company supports $0.8 million per year in taxable sales and spending in the community.Additionally,the company supports taxable property valued at$17.5 million annually. The table below illustrates the company's economic impact over the next 10 years-including both the existing and expanded operations. Table 1. Economic Impact of Existing and Expanded Operations Over the Next 10 Years Existing Existing& Operations Expansion Expanded Ops Jobs Direct 133.0 51.0 184.0 Indirect&Induced 62.6 24.0 86.6 Total 195.6 75.0 270.6 Salaries Direct $71,318,556 $23,405,026 $94,723,582 Indirect&Induced $29,597,202 $9,713,087 $39,310,289 Total $100,915,758 $33,118,113 $134,033,871 Taxable Sales Direct $6,363,212 $2,689,454 $9,052,665 Indirect&Induced $1,716,638 $563,359 $2,279,997 Total $8,079,849 $3,252,813 $11,332,662 Executive Summary Total Impact 14 PROJECT HITCH I ECONOMIC IMPACT The table below illustrates the company's fiscal impact-the net benefits for local taxing districts-over the next 10 years- including both the existing and expanded operations. Table 2. Fiscal Impact of Existing and Expanded Operations Over the Next 10 Years Net Benefits Existing Existing& Operations Expansion Expanded Ops City of Wylie S 1,570,109 S263,907 S 1.8.34,016 Collin County S343,625 $45,475 S389,100 Wylie 150 5834,108 5127,541 S961,649 Collin college 5144,145 S25,593 $169,738 Total $2,891,986 $462,517 $3,354,503 The remainder of this report will focus on only the economic and fiscal impact associated with the expanded operations. Economic Impact Overview The Project's operations will support employment and other economic impacts in the community.The 51.0 workers directly employed by the Project will earn approximately$46,000 per year on average over the next 10 years.This direct activity will support 24.0 indirect and induced workers in the community earning $40,000 on average over the next 10 years.The total additional payroll or workers' earnings associated with the Project is estimated to be approximately$33.1 million over the next 10 years. Accounting for various taxable sales and purchases, including activity associated with the Project,worker spending, and visitors' spending in the community,the Project is estimated to support approximately$3.3 million in taxable sales over the next 10 years. Table 3. Economic Impact Over the Next 10 Years Indirect& DIP e[t Induced Total Number of permanent direct,indirect,and induced jobs to be created 51.0 24.0 75.0 Salaries to be paid to direct,indirect,and induced workers 523,405,026 59,713,087 S33,118,11.3 Taxable sales and purchases expected in the City 52.689,4Y $563,359 $3,252.,813 Executive Summary Total Impact 15 PROJECT HITCH I ECONOMIC IMPACT The Project may result in new residents moving to the community and potentially new residential properties being constructed as summarized below. Table 4. Population Impacts Over the Next 10 Years Indirect& Direct Induced Total Number of direct,indirect,and induced workers who will move to the City 3.8 1.8 5.6 Number of new residents in the City 9.9 4.7 14.6 Number of new residential properties to be built in the City 0.5 0.3 0.8 Number of new students expected to attend local school district 1.9 0.9 2.8 The Project is estimated to support an average of approximately$2.6 million in new non-residential taxable property each year over the next 10 years.The taxable value of property supported by the Project over the 10-year period is shown in the following table. Table 5.Value of Taxable Property Supported by the Project Over the Next 10 Years The Project's Property Total Neva Buildings& Furniture, Subtotal Residential& Residential Other Real Prop. Fixtures,& Nonresidential Nonresidential Year Property Land Improvements Equipment inventories Property Property 1 $126,400 $0 $0 $4,700,000 $0 $4,700,000 $4,826,400 2 $128,928 $0 $0 $4,230,000 $0 $4,230,000 $4,358,928 3 $131,507 $0 $0 $3,760,000 $0 $3,760,000 $3,891,507 4 $134,137 $0 $0 $3,290,000 $0 $3,290,000 $3,424,137 5 $136,819 $0 $0 $2,820,000 $0 $2,820,000 $2,956,819 6 $139,556 $0 $0 $2,350,000 $0 $2,350,000 $2,489,556 7 $142,347 $0 $0 $1,880,000 $0 $1,880,000 $2,022,347 8 $145,194 $0 $0 $1,410,000 $0 $1,410,000 $1,555,194 9 $148,098 $0 $0 $940,000 $0 $940,000 $1,088,098 10 $151,060 $0 $0 $940,000 $0 $940,000 $1,091,060 The taxable value of residential property represents the value of properties that may be constructed as a result of new workers moving to the community. This analysis assumes the residential real property appreciation rate to be 2.0%per year.The Project's real property is assumed to appreciate at a rate of 2.0%per year.The analysis assumes the Project's furniture,fixtures, and equipment will depreciate over time according to the depreciation schedule shown in Appendix A. Executive Summary Total Impact 16 PROJECT HITCH I FISCAL IMPACT Fiscal Impact Overview The Project will generate additional benefits and costs for local taxing districts,a summary of which is provided below.The source of specific benefits and costs are provided in greater detail for each taxing district on subsequent pages.Overall,the City will receive approximately$263,900 in net benefits over the 10-year period and the Project will generate$462,500 in total for all local taxing districts. Table 6. Fiscal Net Benefits Over the Next 10 Years for Local Taxing Districts Present Net Value of Benefits Costs Benefits Nlet Benefits- City of Wylie S541,486 (S277,579) $263,907 $$217,006 Collin County $38,051 ($42,576) S45,475 S38,049 Wylie ISD S602,246 (5474,705) $127,541 $104,949 Collin College $25,593 $0 S2.5,593 $$20.858 Total $1,257,377 ($794,860) $462,517 $380,863 *The Present Value of Net Benefits expresses the future stream of net benefits received over several years as a single value in today's dollars.Today's dollar and a dollar to be received at differing times in the future are not comparable because of the time value of money.The time value of money is the interest rate or each taxing entity's discount rate.This analysis uses a discount rate of 5%to make the dollars comparable. Figure 1.Net Benefits Over the Next 10 Years for Local Taxing Districts City of Wylie $263,907 Collin County $45,475 Wylie ISO $127,541 Collin College $25,593 Executive Summary Total Impact 17 PROJECT HITCH I FISCAL IMPACT City of Wylie The table below clispiays the estimated additional benefits,costs,and net benefits to be received by the City over the next 10 years of the Project.Appendix C contains the year-by-year calculations. Table 7.City of Wylie: Benefits,Costs, and Net Benefits Over the Next 10 Years Amount Sales Taxes-City S65,056 Real Property Taxes St, FF&E Property Taxes $22.3,430 i._ n_ .T., «ry ,.apC!ty New Residential Property Taxes $1 1,749 Utility Revenue S106.599 Utility Franchise Fees $41,986 Building Permits and Fees $0 Hotel Occupancy Taxes SO Miscellaneous Taxes&User Fees S92,665 Subtotal Benefits S541,486 Cost of Providing Municipal Services ($179,508) Cost of Providing Utility Services ($98,071) Subtotal Costs ($277,579) Net Benefits S253,907 Present Value(5%discount rate) S217,006 Figure 2.Annual Fiscal Net Benefits for the City of Wylie 5100.000 S80.000 $60,000 S40,000 $20,000 Sl} (.S20,000) (S40,000) 1 2 3 4 5 6 7 8 9 10 Year Benefits Costs -Net Benefits Executive Summary Total Impact 18 PROJECT HITCH I FISCAL IMPACT The City will receive benefits from the activity,spending,and investments associated with (1)the Project and (2)the workers. These benefits, associated costs,and resulting net benefits for the next 10 years are shown below for these two categories. Table 8: Net Benefits to the City from the Project and Workers The Project Workers Total Sales Taxes-City $26,639 $38,417 $65,056 Real Property Taxes $0 $0 $0 FF&E Property Taxes $223,430 $0 $223,430 Inventory Property Taxes $0 $0 $0 New Residential Property Taxes $0 $11,749 $11,749 Utility Revenue $42,215 $64,384 $106,599 Utility Franchise Fees $33,953 $8,033 $41,986 Building Permits and Fees $0 $0 $0 Hotel Occupancy Taxes $0 $0 $0 Miscellaneous Taxes&User Fees $79,298 $13,367 $92,665 Subtotal Benefits $405,535 5135,951 $541.486 Cost of Providing Municipal Services (1153,570) (525,9381 (5179,508) Cost of Providing Utility Services ($38,837) (S59,234) (598,071) Subtotal Costs ($192,407) ($85,171) ($277,579) Net Benefits $213,128 $50,779 $263,907 Percent of Total Net Benefits 80.8% 19.2% Collin County The table below displays the estimated additional benefits,costs, and net benefits to be received by the County over the next 10 years of the Project.Appendix C contains the year-by-year calculations. Table 9.Collin County: Benefits,Costs,and Net Benefits Over the Next 10 Years Amount Real Property Taxes $0 FF&E Property Taxes 554,850 Inventory Property Taxes $0 New Residential Property Taxes 510,816 Miscellaneous Taxes&User Fees $22,386 Subtotal Benefits II 051 Cost of Providing County Services (S42.576) Subtotal Costs (542,576) Net Benefits 545,47$ Present Value(5%discount rate) $36,049 Executive Summary Total Impact 19 PROJECT HITCH FISCAL IMPACT Wylie IS❑ The table below displays the estimated additional benefits,costs,and net benefits to be received by the school district over the next 10 years of the Project.Appendix C contains the year-by-year calculations. Table 10 Wylie ISO: Benefits,Costs, and Net Benefits Over the Next 10 Years Amount Real Property Taxes S0 FF&E Property Taxes S431.648 Inventory Property Taxes $0 New Residencidi Property Taxes S22.698 Additional State and Federal Funding $147,900 Subtotal Benefits S602,246 Cost of Educating New Students (S150,568) Reduction in State School Funding' (S324,137) Subtotal Costs L$474,1111 Net Benefits S127,541 Present Value(5%discount rote) $104,949 'Reduction in state school funding as a result of property being added to local tax rolls,see Methodology. Other Taxing Districts The table below displays the estimated additional benefits,costs, and net benefits to be received by the other taxing districts over the next 10 years of the Project.Appendix C contains the year-by-year calculations. Table 11. Other Taxing Districts:Benefits,Costs,and Net Benefits Over the Next 10 Years Collin College N/A N/A Amount Sales Taxes $0 SO SO S0 Real Properly Taxes $0 SO $0 S0 FF&E Property Taxes S21,378 SO 50 $21,378 Inventory Property Taxes $0 $0 SO $0 New Residential Property Taxes $4,216 50 50 $4,216 Net Benefits S25,593 $0 SO 125,593 Present Value($%discount rate) 520,858 $0 $0 520,858 Executive Surnrnary Total Impact I i0 PROJECT HITCH I PUBLIC SUPPORT Summary of Public Support Considered The City of Wylie may provide economic development incentives to support the Project, a summary of the incentives under consideration is provided below. Table 11. Public Support Under Consideration by the City of Wylie Property Tax Job Creation Year Reimbursement Incennive Total 1 $30,994 $45,000 $75,994 2 $27,895 $45,000 $72,895 3 $24,795 $45,000 $69,795 4 $0 $0 $0 5 $0 $0 $0 6 $0 $0 $0 7 $0 $0 $0 8 $0 $0 $0 9 $0 $0 $0 10 $0 $0 $0 Total $83,684 $135,000 $218,684 The Wylie EDC is considering some incentives related to the expansion.For all personal property value in excess of the threshold (current value =$14,375,324),the WEDC will reimburse 50%0 of the taxes paid utilizing a tax rate of.013189 (City of Wylie rate plus the [SD l&S Rate)for 3 years.This reimbursement represents approximately$83,500 paid over 3 years. For every new full-time employee added beyond a baseline of 133,the company will receive a $1,000 grant.There will also be a cap on the incentive of 45 new employees or total of 178.Since plans call for 51 new workers in the first year,the maximum per- employee incentive of$45,000 is scheduled to be paid for 3 years. Executive Summary Total Impact 111 PROJECT HITCH I PUBLIC SUPPORT Non-Tax Incentives The City is considering the following non-tax incentives for the Project. Table 18. Incentives Under Consideration Property Tax Job Creation Year Reimbursement Incetnive Total Incentive 1 $30,994 $45,000 $75,994 2 $27,895 $45,000 $72,895 3 $24,795 $45,000 $69,795 4 $0 $0 $0 5 $0 $0 $0 6 $0 $0 $0 7 $0 $0 $0 8 $0 $0 $0 9 $0 $0 $0 10 $0 $0 $0 Total $83,684 $135,000 $218,684 These financial incentives may be considered an investment in the Project made by the city.Four calculations analyzing possible investments were made: 1. Net Benefits-detailed above 2. Present Value of Net Benefits-detailed above 3. Rate of Return on Investment-discussed and detailed below 4. Payback Period -discussed and detailed below The rate of return on investment calculates the average annual rate of return to the city,treating the incentives as the initial investment and the net benefits to the city as the return on investment.The payback period is the number of years that it will take the city to recover the cost of incentives from the additional revenues that it will receive as a result of the Project. The table below shows an analysis of these incentives, including a calculation of incentives per job,rate of return, and payback period. Table 19.Analysis of Incentives Total Non-Tax Incentive $218,684 Incentive Per Job $4,288 Rate of Return 12.1% Payback period(years) 6.6 Note:The Rate of Return and Payback Period are calculated based on the sum of annual incentives,not the present value of the incentives. Executive Summary Total Impact 112 PROJECT HITCH I PUBLIC SUPPORT The graph below depicts the total incentives currently under consideration versus the cumulative net benefits to the City.The intersection indicates the length of time until the incentives are paid back. Figure 3. Incentives Under Consideration $300,000 - $250,000 • $200,000 $150,000 $100,000 $50,000 l 1 2 3 4 5 6 7 8 9 10 Year Job Creation Incentive Cumulative Net Benefits Total Incentive Other incentive amounts may be considered as well as summarized below. Table 20. Range of Possible Incentives Incentive Option Amount Payback Period Rate of Return 1 $170,000 4.5 15.5% 2 $180,000 4.9 14.7% 3 $190,000 5.3 13.9% 4 $200,000 5.7 13.2% 5 $210,000 6.6 12.6% 6 $218,684 6.6 12.1% 7 $220,000 6.7 12.0% 8 $230,000 7.3 11-5% 9 $240,000 7.9 11.0% 10 $250,000 8.8 1 0-6% 11 $260,000 9.7 10.2% Executive Summary Total Impact 113 PROJECT HITCH I METHODOLOGY Overview of Methodology This report presents the results of an analysis undertaken by Impact DataSource using Total Impact, an economic and fiscal impact analysis tool developed and supported by the Austin,TX based economic consulting firm, Impact DataSource The Total Impact model combines project-specific attributes with community data,tax rates, and assumptions to estimate the economic impact of the Project and the fiscal impact for local taxing districts over a 10-year period. The economic impact as calculated in this report can be categorized into two main types of impacts. First,the direct economic impacts are the jobs and payroll directly created by the Project. Second,this economic impact analysis calculates the indirect and induced impacts that result from the Project. Indirect jobs and salaries are created in new or existing area firms, such as maintenance companies and service firms,that may supply goods and services for the Project.In addition, induced jobs and salaries are created in new or existing local businesses, such as retail stores, gas stations, banks, restaurants, and service companies that may supply goods and services to new workers and their families. The economic impact estimates in this report are based on the Regional Input-Output Modeling System (RIMS II), a widely used regional input-output model developed by the U. S. Department of Commerce, Bureau of Economic Analysis.The RIMS II model is a standard tool used to estimate regional economic impacts.The economic impacts estimated using the RIMS II model are generally recognized as reasonable and plausible assuming the data input into the model is accurate or based on reasonable assumptions. Impact DataSource utilizes county-level multipliers to estimate the impact occurring at the sub-county level. Two types of regional economic multipliers were used in this analysis:an employment multiplier and an earnings multiplier.An employment multiplier was used to estimate the number of indirect and induced jobs created or supported in the area. An earnings multiplier was used to estimate the amount of salaries to be paid to workers in these new indirect and induced jobs. The employment multiplier shows the estimated number of total jobs created for each direct job.The earnings multiplier shows the estimated amount of total salaries paid to these workers for every dollar paid to a direct worker.The multipliers used in this analysis are listed below: 336390 Other motor vehicle parts manufacturing City County Employment Multiplier (Type II Direct Effect) 1.4707 1.934E Earnings Multiplier (Type II Direct Effect) 1 4150 1.8243 The fiscal impacts calculated in this report are detailed in Appendix C. Most of the revenues estimated in this study result from calculations relying on (1) attributes of the Project, (2) assumptions to derive the value of associated taxable property or sales, and (3) local tax rates. In some cases, revenues are estimated on a per new household, per new worker,or per new school student basis. The company or Project developer was not asked, nor could reasonably provide data for calculating some other revenues. For example,while the city will likely receive revenues from fines paid on speeding tickets given to new workers,the company does not know the propensity of its workers to speed.Therefore, some revenues are calculated using an average revenue approach. This approach uses relies on two assumptions: 1.The taxing entity has two general revenue sources: revenues from residents and revenues from businesses. 2.The taxing entity will collect(a) about the same amount of miscellaneous taxes and user fees from each new household that results from the Project as it currently collects from existing households on average, and (b)the same amount of miscellaneous taxes and user fees from the new business(on a per worker basis)will be collected as it collects from existing businesses. In the case of the school district,some additional state and federal revenues are estimated on a per new school student basis consistent with historical funding levels. Executive Summary Total Impact 114 PROJECT HITCH I METHODOLOGY Additionally,this analysis sought to estimate the additional expenditures faced by the city and county to provide services to new households and new businesses. A marginal cost approach was used to calculate these additional costs.This approach relies on two assumptions: 1.The taxing entity spends money on services for two general groups: revenues from residents and revenues from businesses. 2.The taxing entity will spend slightly less than its current average cost to provide local government services (police,fire, EMS, etc.)to (a) new residents and (b) businesses on a per worker basis. In the case of the school district,the marginal cost to educate new students was estimated based on a portion of the school's current expenditures per student and applied to the headcount of new school students resulting from the Project. Additionally,this analysis seeks to calculate the impact on the school district's finances from the Project by generally, and at a summary level, mimicking the district's school funding formula. According to the Texas Education Agency,any property added to local tax rolls,and the local taxes that this generates, reduces the amount of state funding equivalent to local taxes collected for maintenance and operations.The school district retains local taxes received for debt services and the corresponding state funding is not reduced. However,according to the Texas Education Agency,the school district will receive state aid for each new child that moves to the District. The additional revenues for the school district are calculated in this analysis. About Impact DataSource Impact DataSource is an Austin economic consulting, research, and analysis firm founded in 1993.The firm has conducted over 2,500 economic impact analyses of firms, projects, and activities in most industry groups in Texas and more than 30 other states. In addition, Impact DataSource has prepared and customized more than 50 economic impact models for its clients to perform their own analyses of economic development projects.These clients include the New Mexico Economic Development Department and the Tennessee Department of Economic and Community Development. The New Mexico Department of Economic Development uses Impact DataSource's computer model to project the economic impact of new or expanding firms in the state, including costs and benefits for the State of New Mexico,as well as each local taxing district.The model also analyzes the amount of eligible state and local incentives and calculates a rate of return and payback period for these incentives. Executive Summary Total Impact 1 15 PROJECT HITCH -IMPACT SUMMARY FOR THE CITY OF WYLIE An existing motor'vehicle parts,mornifacturer or Wylie[5 considering an expansion to mclude purchasing orow equipment artd hiring new ernoloyees„As nicidaled in this report,One company plans to add$4 7 mullUon in new equipment and hire 51 new workers earning approximately$42,000 per year.The colnpany currently supports$14„3 million in business personal property arid 93 1 million in real property and!employs 133 workers at on average,annual salary of 149,000, The Wylie(DC is ering some incentives related to the expansion For oll personal property value in excess,of the threshold(courant value c$14,375,3241 the WEDC will reimburse 90%,of the taxes paid utilizing a tax tote,of,013189(City of Wylie rote phis the ISD 186 Rote)for I years,This reimbursement represents approximately 583,500 paid new 3 years, For every new fullitiarue employee added beyond a baseline of 133,the company will receive a$1,000 grant Them will also be a cap on the incentive of 45,new employees or total of 138 Since plans call for 51 now workers in the first year,the maximum per'employee incentive of 945,000 ts scheduled'to be paid for 3 years„ JOBS City of Wylie Net Benefits Over 10 Years Amount 270.6 Total Sales Takes-City $22.6.653 184,0 Direct" Real Property Taxes 9285,842 FE&E Property Taxes 51439,77S AVERAGE SALARY' inventory Property Tones '94„314 ter,4'44 New Residential Property Taxes $11„749 ll $40.300 Utility Revenue 9195,362 141,9112 Direct Utility Franchise Fees 9'130.529 Butildting Permits and Fees $0 CAPITAL INVESTMENT Hotel Occupancy Tones $0 9 Miscellaneous Tanen Sti User Fees Adotal $299,462 $4.7m 13singlum $4,511.1,922! Buildings at Equipment Cost at Providing Municipal Services 09'793941 Cost of IN modUng 0.04!Services ($179,9171 RESIDENTtAL OW. 1411IDS4111C2412 Lia2,210.1 Net Benefits $1,994,016 • OA Homes Present Value(5%discount rate) $1,427239 5,6 Workers Relocating Net Benefits over 10 Years 5300,000 9250,000 $200,000 9150,000 $100000 150,000 " rig"' fiffii PTO 11) I:91511000i 1 2 3 4 5 6 7 11 9 10 Benefits 111101110f CoSts Y82t—Net Benefits Incentive Analysis aver 10 Years 1,11,,6t14 St,288 Totol Non too Boor tive Iro;entive Per Pob Row of Retom Payback If NearrA $2.000000 $1,800.000 $1500,000 $4,400100 $1.200000 $1,000000 $800,000 $600,000 $400.000 Si 3 4 11 6 7 8 9 10 Year alsonw rot creation attentive —Citicadative Net Benefits Total alrenew: wankirepastpalasoul.ce„com EXECUTIVE SUMMARY A REPORT OF THE ECONOMIC IMPACT OF PROJECT HITCH IN WYLIE, TX March 20, 2017 Prepared for: Wylie Economic Development Corporation 250 S. Hwy 78 Wylie, TX 75098 Prepared using Total Impact by ■ ■ ▪ 3 IMPACT Len DataSource PURPOSE & LIMITATIONS This report presents the results of an analysis undertaken by Impact DataSource using Total Impact, an economic and fiscal impact analysis tool developed and supported by the Austin,TX based economic consulting firm, Impact DataSource. The Total Impact model is a software program customized for the Wylie Economic vrveiuprrrelrt Cuipuraiiurf. The rrrudei includes esiirrraies, assumpLiOrrs, and OLiier information developed by Impact DataSource from its independent research effort. The analysis relies on prospective estimates of business activity that may not be realized. Wylie Economic Development Corporation made reasonable efforts to ensure that the project-specific data entered into the Total Impact model reflects realistic estimates of future activity. No warranty or representation is made by Wylie Economic Development Corporation or Impact DataSource that any of the estimates or results contained in this study will actually be achieved. aie• " IMPACT I ea IJ c3Y_:3�ii71_i f"f:l Executive Summary Total Impart J 2 CONTENTS Economic Impact Introduction 4 Description of the Project 4 Existing & Expanded Operations 4 Economic Impact Overview 5 Fiscal Impact Fiscal Impact Overview 7 City of Wylie 8 Collin County,.. 9 Wylie ISD.. 9 Other Taxing Districts 10 Public Support Summary of Public Support Considered 11 Methodology Overview of Methodology 14 About Impact DataSource 15 Executive Summary Total Impact I 3 PROJECT HITCH I ECONOMIC IMPACT Introduction This report presents the results of an economic impact analysis performed using Total Impact,a model developed by Impact DataSource.The report estimates the impact that a potential project in the City of Wylie will have on the local economy and estimates the costs and benefits for local taxing districts over a 10-year period. Description of the Project An existing motor vehicle parts manufacturer in Wylie is considering an expansion to include purchasing new equipment and hiring new employees.As modeled in this report,the company plans to add $4.7 million in new equipment and hire 51 new workers earning approximately$42,000 per year.The company currently supports $14.3 million in business personal property and $3.1 million in real property and employs 133 workers at an average annual salary of$49,000. The Wylie EDC is considering some incentives related to the expansion. For all personal property value in excess of the threshold (current value=$14,375,324),the WEDC will reimburse 50%of the taxes paid utilizing a tax rate of.013189 (City of Wylie rate plus the ISD 1&S Rate)for 3 years.This reimbursement represents approximately$83,500 paid over 3 years. For every new full-time employee added beyond a baseline of 133,the company will receive a$1,000 grant.There will also be a cap on the incentive of 45 new employees or total of 178.Since plans call.for 51 new workers in the first year,the maximum per- employee incentive of$45,000 is scheduled to be paid for 3 years. Existing & Expanded Operations The Project under analysis represents the expansion of an existing company in the City of Wylie.The existing operations currently support 133.0 direct jobs in the community and 62.6 indirect and induced jobs.The direct workers earn $48,972 per year and the company supports$0.8 million per year in taxable sales and spending in the community.Additionally,the company supports taxable property valued at$17.5 million annually. The table below illustrates the company's economic impact over the next 10 years-including both the existing and expanded operations. Table 1. Economic Impact of Existing and Expanded Operations Over the Next 10 Years Existing Existing& Operations Expansion Expanded Ops Jobs Direct 133.0 51_f} 184.0 Indirect&Induced 62.6 24.0 86.6 Total 195.6 75.0 270.6 Salaries Direct $71,318,556 $23,405,026 $94,723,582 Indirect&Induced $29,597,202 $9,713,087 $39,310,289 Total $100,915,758 533,1 18,1 13 $134,033,871 Taxable Sales Direct $6,363,212 $2,689454 $9,052,665 Indirect&Induced $1,716,638 $563,359 $2,279,997 Total $8,079,849 $3,252,813 $$i 1,332,662 Executive Summary Total Impact 14 PROJECT HITCH I ECONOMIC IMPACT The table below illustrates the company's fiscal impact-the net benefits for local taxing districts-over the next 10 years- including both the existing and expanded operations. Table 2. Fiscal Impact of Existing and Expanded Operations Over the Next 10 Years Net Benefits Existing Existing& Operations Expansion Expanded Ops City of Wylie $1,570,109 $263,907 $1,834,016 Collin County $343,625 $45,475 $389,100 Wylie ISD $834,108 $127,541 $961,649 Collin College $144,145 $25,593 $169,738 Total $2,891,986 $462,517 $3,354,503 The remainder of this report will reference the combined economic and fiscal impact of the existing and expanded operations. Economic Impact Overview The Project's operations will support employment and other economic impacts in the community.The 184.0 workers directly employed by the Project will earn approximately$51,000 per year on average over the next 10 years.This direct activity will support 86.6 indirect and induced workers in the community earning $45,000 on average over the next 10 years.The total additional payroll or workers' earnings associated with the Project is estimated to be approximately$134.0 million over the next 10 years. Accounting for various taxable sales and purchases,including activity associated with the Project,worker spending, and visitors' spending in the community,the Project is estimated to support approximately$11.3 million in taxable sales over the next 10 years. Table 3. Economic Impact Over the Next 10 Years Indirect& Direct Induced Total Number of permanent direct,indirect,and induced jobs to be created '184.0 86.6 270 6 Salaries to be paid to direct,indirect,and induced workers 594,723,582 S39,310,289 S134,033,871 Taxable sales and purchases expected in the City $9,052,665 S2,279,997 $11,332,662 Executive Summary Total Impact 15 PROJECT HITCH I ECONOMIC IMPACT The Project may result in new residents moving to the community and potentially new residential properties being constructed as summarized below. Table 4. Population Impacts Over the Next 10 Years Indirect& Direct Induced Total Number of direct,indirect,and induced workers who will move to the City 3.8 1.8 5.6 Number of new residents in the City 9.9 4.7 14.6 Number of new residential properties to be built in the City 0,5 0.3 0.8 Number of new students expected to attend local school district 1.9 0.9 2.8 The Project is estimated to support an average of approximately$20.4 million in new non-residential taxable property each year over the next 10 years.The taxable value of property supported by the Project over the 10-year period is shown in the following table. Table 5.Value of Taxable Property Supported by the Project Over the Next 10 Years The Project's Property Total New Buildings& Furniture, Subtotal Residential& Residential Other Real Prop. Fixtures,& Nonresidential Nonresidential Year Property Land improvements Equipment Inventories Property Property 1 $126,400 $1,025,402 $2,049,749 $19,028,478 $46,846 $22,150,475 $22,276,875 2 $128,928 $1,045,910 $2,090,744 $18,558,478 $47,783 $21,742,915 $21,871,843 3 $131,507 $1,066,828 $2,132,559 $18,088,478 $48,739 $21,336,604 $21,468,110 4 $134,137 $1,088,165 $2,175,210 $17,618,478 $49,713 $20,931,566 $21,065,703 5 $136,819 $1,109,928 $2,218,714 $17,148,478 $50,708 $20,527,828 $20,664,647 6 $139,556 $1,132,127 $2,263,089 $16,678,478 $51,722 $20,125,415 $20,264,971 7 $142,347 $1,154,769 $2,308,350 $16,208,478 $52,756 $19,724,354 $19,866,701 8 $145,194 $1,177,865 $2,354,517 $15,738,478 $53,811 $19,324,671 $19,469,865 9 $148,098 $1,201,422 $2,401,608 $15,268,478 $54,888 $18,926,395 $19,074,493 10 $151,060 $1,225,450 $2,449,640 $15,268,478 $55,985 $18,999,553 $19,150,613 The taxable value of residential property represents the value of properties that may be constructed as a result of new workers moving to the community. This analysis assumes the residential real property appreciation rate to be 2.0%per year.The Project's real property is assumed to appreciate at a rate of 2.0%per year.The analysis assumes the Project's furniture,fixtures, and equipment will depreciate over time according to the depreciation schedule shown in Appendix A. Executive Summary Total Impact 16 PROJECT HITCH I FISCAL IMPACT Fiscal Impact Overview The Project will generate additional benefits and costs for local taxing districts,a summary of which is provided below.The source of specific benefits and costs are provided in greater detail for each taxing district on subsequent pages.Overall,the City will receive approximately$1,834,000 in net benefits over the 10-year period and the Project will generate$3,354,500 in total for all local taxing districts. Table 6. Fiscal Net Benefits Over the Next 10 Years for Local Taxing Districts Present Net Value of Benefits Costs Benefits Net Benefits' City of Wylie S2,593,927 ($7$9,910) $1,834,016 $1,427,239 Collin County S48'1,016 (S97,916) S389,100 S303,112 Wylie!SD 53,512,751 (52.,551,102) $961,649 $748,043 Collin College $$169,738 $0 5169,738 S 131,993 Total $6,763,431 ($3,408,928) $3,354,503 $2,610,386 *The Present Value of Net Benefits expresses the future stream of net benefits received over several years as a single value in tday's dollars.Today's dollar and a dollar to be received at differing times in the future are not comparable because of the time value of money.The time value of money is the interest rate or each taxing entity's discount rate.This analysis uses a discount rate of 5%to make the dollars comparable. Figure 1. Net Benefits Over the Next 10 Years for Local Taxing Districts City of Wylie 51,834,016 Collin County 5389.100 Wylie ISD $961,649 Collin College . S169,738 Executive Summary Total Impact 17 PROJECT HITCH I FISCAL IMPACT City of Wylie The table below displays the estimated additional benefits,costs,and net benefits to be received by the City over the next 10 years of the Project.Appendix C contains the year-by-year calculations. Table 7.City of Wylie:Benefits, Costs, and Net Benefits Over the Next 10 Years Amount Sales Taxes-City S226,653 Real Property Taxes ?S285,842 F &E Property Taxes S1,439.775 New Residential Property Taxes SS11,749 Utility Revenue S195,562 Utility Franchise Fees S130,529 Building Permits and Fees $$0 Hotei Occupancy Taxes SO Miscellaneous Taxes&User Fees S299,462 Subtotal Benefits $2.593,927 Cost of Providing Municipal Services (S579.994) Cost of Providing Utility Services (S179,9171 Subtotal Costs (5759,910) Net Benefits $1,834,016 Present Value(5%discount rote) S 7,427,239 Figure 2.Annual Fiscal Net Benefits for the City of Wylie $300,000 $250,000 $200,000 S150,000 S100,000 $50,000 $0 ($50,000) (5100,000) (S150.000) 1 2 3 4 5 6 7 8 9 10 Year Benefits Costs —Net Benefits Executive Summary Total Impact I S PROJECT HITCH I FISCAL IMPACT The City will receive benefits from the activity,spending, and investments associated with(1)the Project and (2)the workers. These benefits, associated costs, and resulting net benefits for the next 1 U years are shown below for these two categories. Table 8: Net Benefits to the City from the Project and Workers The Project Workers Total Sales Taxes-City S71.174 $155,479 $226,653 Real Property Taxes $285.842 5(1 $2.85,842 tt&E Property Taxes $1,439,775 $0 $1,439,775 Inventory Property Taxes $4,354 $0 54,354 New Residential Property Taxes SO $11,749 S11,749 Utility Revenue $131,177 S64,384 $195,562 Utility Franchise Fees $122,497 $8,033 $130,529 Building Permits and Fees $0 $0 $0 Hotel Occupancy Taxes $0 SO SO Miscellaneous Taxes&User Fees $286,094 $13,367 S299,462 Subtotal Benefits $2,340,914 $253.013 $2,593,92.7 Cost of Providing Municipal Services ($554,056) (525,938) ($579,994) Cost of Providing Utility Services ($120,683) (S59,234) (5179,91?) Subtotal Costs ($674.7391 ($85,1711 (5759.910) Net Benefits $1,666,175 $167,842 $1,834,016 Percent of Total Net Benefits 90.8% 9.2% Collin County The table below displays the estimated additional benefits,costs, and net benefits to be received by the County over the next 10 years of the Project.Appendix C contains the year-by-year calculations. Table 9. Collin County:Benefits, Costs, and Net Benefits Over the Next 10 Years Amount Real Property Taxes $70,171 FF&E Property Taxes $353,448 Inventory Property Taxes $1,069 New Residential Property Taxes S10,816 Miscellaneous Taxes&User Fees $51,512 Subtotal Benefits $487,016 Cost of Providing County Services (S97,916) Subtotal Costs f597,9161 Net Benefits S389,100 Present Value(5%discount rote) $303,172 Executive Summary Total impact I 9 PROJECT HITCH I FISCAL IMPACT Wylie ISD The table below displays the estimated additional benefits, costs,and net benefits to be received by the school district over the next 10 years of the Project.Appendix C contains the year-by-year calculations. Table 10.Wylie ISD: Benefits, Costs,and Net Benefits Over the Next 10 Years Amount Real Property Taxes $552,222 FF&E Property Taxes $2,781,518 Inventory Property Taxes $8,412 New Resider iiai Properly Taxes $22,698 Additional State and Federal Funding $147,900 Subtotal Benefits $3,512,751 Cost of Educating New Students ($150,568) Reduction in State School Funding* ($2,400,534) Subtotal Costs ($2,551,102) Net Benefits $961,649 Present Value(5%discount rate) $748,043 *Reduction in state school funding as a result of property being added to local tax rolls,see Methodology. Other Taxing Districts The table below displays the estimated additional benefits,costs,and net benefits to be received by the other taxing districts over the next 10 years of the Project.Appendix C contains the year-by-year calculations. Table 11.Other Taxing Districts: Benefits,Costs,and Net Benefits Over the Next 10 Years Collin College N/A N/A Amount Sales Taxes $0 $0 $0 $0 Real Property Taxes $27,349 $0 $0 $27,349 FF&E Property Taxes $137,756 $0 $0 $137,756 Inventory Property Taxes $417 $0 $0 $417 New Residential Property Taxes $4,216 $0 $0 $4,216 Net Benefits $169,738 $0 $0 $169,738 Present Value(5%discount rate) $731,993 $0 $0 $131,993 Executive Summary Total Impact 1 10 PROJECT HITCH I PUBLIC SUPPORT Summary of Public Support Considered The City of Wylie may provide economic development incentives to support the Project, a summary of the incentives under consideration is provided below. Table 11. Public Support Under Consideration by the City of Wylie Property Tax Job Creation Year Reimbursement Incetnive Total 1 $30,994 $45,000 $75,994 2 $27,895 $45,000 $72,895 3 $24,795 $45,000 $69,795 4 $0 $0 $0 5 $0 $0 $0 6 $0 $0 $0 7 $0 $0 $0 8 $0 $0 $0 9 $0 $0 $0 10 $0 $0 $0 Total $83,684 $135,000 $218,684 The Wylie EDC is considering some incentives related to the expansion. For all personal property value in excess of the threshold (current value=$14,375,324),the WEDC will reimburse 50%of the taxes paid utilizing a tax rate of.013189 (City of Wylie rate plus the ISD l&S Rate)for 3 years.This reimbursement represents approximately$83,500 paid over 3 years. For every new full-time employee added beyond a baseline of 133,the company will receive a $1,000 grant.There will also be a cap on the incentive of 45 new employees or total of 178.Since plans call for 51 new workers in the first year,the maximum per- employee incentive of$45,000 is scheduled to be paid for 3 years. Executive Summary Total Impact 111 PROJECT HITCH I PUBLIC SUPPORT Non-Tax Incentives The City is considering the following non-tax incentives for the Project. Table 18.Incentives Under Consideration Property Tax lob Creation Year Reimbursement lncetnive Total Incentive 1 $30,994 $45,000 $75,994 2 $27,895 $45,000 $72,895 3 $24,795 $45,000 $69,795 4 $0 $0 $0 5 $0 $0 $0 6 $0 $0 $0 7 $0 $0 $0 8 $0 $0 $0 9 $0 $0 $0 10 $0 $0 $0 Total $83,684 $135,000 $218,684 These financial incentives may be considered an investment in the Project made by the city.Four calculations analyzing possible investments were made: 1. Net Benefits-detailed above 2. Present Value of Net Benefits-detailed above 3. Rate of Return on Investment-discussed and detailed below 4. Payback Period -discussed and detailed below The rate of return on investment calculates the average annual rate of return to the city,treating the incentives as the initial investment and the net benefits to the city as the return on investment.The payback period is the number of years that it will take the city to recover the cost of incentives from the additional revenues that it will receive as a result of the Project. The table below shows an analysis of these incentives, including a calculation of incentives per job, rate of return, and payback period. Table 19.Analysis of Incentives Total Non-Tax Incentive 5218,684 Incentive Per Job 54.288 Rate of Return 83.9% Payback period(years) 1.1 Note'The Rate of Return and P7yb,rck Pcrlad are c zlculated based on the sum of annual incentives,not the present value of the incentives. Executive Summary Total Impact 1 12 PROJECT HITCH I PUBLIC SUPPORT The graph below depicts the total incentives currently under consideration versus the cumulative net benefits to the City.The intersection indicates the length of time until the incentives are paid back. Figure 3. Incentives Under Consideration $2,000,000 $1,800,000 $1,600,000 $1,400,000 $1,200,000 $1,000,000 $800,000 $600,000 $400,000 $200,000 • r - $0 -- — • - I 2 3 4 5 6 7 8 9 10 Year Job Creation Incentive —Cumulative Net Benefits Total Incentive Other incentive amounts may be considered as well as summarized below. Table 20. Range of Possible Incentives Incentive Option Amount Payback Period Rate of Return 1 $170,000 0.8 107.9% 2 $180,000 0.9 101.9% 3 $190,000 0.9 96.5% 4 $200,000 1.0 91.7% 5 $210,000 1.1 87.3% 6 $218,684 1.1 83.9% 7 $220,000 1.1 83.4% 8 $230,000 1.1 79.7% 9 $240,000 1.2 76.4% 10 $250,000 1.2 73.4% 11 $260,000 1.3 70.5% Executive Summary Total Impact 1 13 PROJECT HITCH I METHODOLOGY Overview of Methodology This report presents the results of an analysis undertaken by Impact DataSource using Total Impact, an economic and fiscal impact analysis tool developed and supported by the Austin,TX based economic consulting firm, Impact DataSource. The Total Impact model combines project-specific attributes with community data,tax rates,and assumptions to estimate the economic impact of the Project and the fiscal impact for local taxing districts over a 10-year period. The economic impact as calculated in this report can be categorized into two main types of impacts. First,the direct economic impacts are the jobs and payroll directly created by the Project. Second,this economic impact analysis calculates the indirect and induced impacts that result from the Project. Indirect jobs and salaries are created in new or existing area firms, such as maintenance companies and service firms,that may supply goods and services for the Project. In addition, induced jobs and salaries are created in new or existing local businesses,such as retail stores, gas stations, banks, restaurants, and service companies that may supply goods and services to new workers and their families. The economic impact estimates in this report are based on the Regional Input-Output Modeling System (RIMS II), a widely used regional input-output model developed by the U. S. Department of Commerce, Bureau of Economic Analysis.The RIMS II model is a standard tool used to estimate regional economic impacts.The economic impacts estimated using the RIMS II model are generally recognized as reasonable and plausible assuming the data input into the model is accurate or based on reasonable assumptions. Impact DataSource utilizes county-level multipliers to estimate the impact occurring at the sub-county level. Two types of regional economic multipliers were used in this analysis:an employment multiplier and an earnings multiplier.An employment multiplier was used to estimate the number of indirect and induced jobs created or supported in the area. An earnings multiplier was used to estimate the amount of salaries to be paid to workers in these new indirect and induced jobs. The employment multiplier shows the estimated number of total jobs created for each direct job.The earnings multiplier shows the estimated amount of total salaries paid to these workers for every dollar paid to a direct worker.The multipliers used in this analysis are listed below: 336390 Other motor vehicle parts manufacturing City County Employment Multiplier (Type II Direct Effect) 1 4707 1 9348 Earnings Multiplier (Type II Direct Effect) 1 4150 1 8243 The fiscal impacts calculated in this report are detailed in Appendix C. Most of the revenues estimated in this study result from calculations relying on (1)attributes of the Project, (2) assumptions to derive the value of associated taxable property or sales, and (3) local tax rates. In some cases, revenues are estimated on a per new household, per new worker,or per new school student basis. The company or Project developer was not asked, nor could reasonably provide data for calculating some other revenues. For example,while the city will likely receive revenues from fines paid on speeding tickets given to new workers,the company does not know the propensity of its workers to speed.Therefore,some revenues are calculated using an average revenue approach. This approach uses relies on two assumptions: 1.The taxing entity has two general revenue sources: revenues from residents and revenues from businesses. 2.The taxing entity will collect (a) about the same amount of miscellaneous taxes and user fees from each new household that results from the Project as it currently collects from existing households on average, and (b)the same amount of miscellaneous taxes and user fees from the new business(on a per worker basis)will be collected as it collects from existing businesses. In the case of the school district, some additional state and federal revenues are estimated on a per new school student basis consistent with historical funding levels. Executive Summary Total Impact 114 PROJECT HITCH I METHODOLOGY Additionally,this analysis sought to estimate the additional expenditures faced by the city and county to provide services to new households and new businesses.A marginal cost approach was used to calculate these additional costs.This approach relies on two assumptions: 1.The taxing entity spends money on services for two general groups:revenues from residents and revenues from businesses. 2.The taxing entity will spend slightly less than its current average cost to provide local government services(police,fire, EMS,etc.)to (a) new residents and (b) businesses on a per worker basis. In the case of the school district,the marginal cost to educate new students was estimated based on a portion of the school's current expenditures per student and applied to the headcount of new school students resulting from the Project. Additionally,this analysis seeks to calculate the impact on the school district's finances from the Project by generally, and at a summary level, mimicking the district's school funding formula. According to the Texas Education Agency,any property added to local tax rolls, and the local taxes that this generates, reduces the amount of state funding equivalent to local taxes collected for maintenance and operations.The school district retains local taxes received for debt services and the corresponding state funding is not reduced. However, according to the Texas Education Agency,the school district will receive state aid for each new child that moves to the District. The additional revenues for the school district are calculated in this analysis. About Impact DataSource Impact DataSource is an Austin economic consulting, research,and analysis firm founded in 1993.The firm has conducted over 2,500 economic impact analyses of firms, projects, and activities in most industry groups in Texas and more than 30 other states. In addition, Impact DataSource has prepared and customized more than 50 economic impact models for its clients to perform their own analyses of economic development projects.These clients include the New Mexico Economic Development Department and the Tennessee Department of Economic and Community Development. The New Mexico Department of Economic Development uses Impact DataSource's computer model to project the economic impact of new or expanding firms in the state, including costs and benefits for the State of New Mexico, as well as each local taxing district.The model also analyzes the amount of eligible state and local incentives and calculates a rate of return and payback period for these incentives. Executive Summary Total Impact 115