06-21-2017 (WEDC) Minutes mutes
Wylie Economic Development Corporation
Board of Directors Meeting
Wednesday, June 21, 2017—6:30 A.M.
WEDC Offices—Conference Room
250 South Highway 78 — Wylie, Texas
CALL TO 0 ' I ER
Announce the presence of a Quorum
President Marvin Fuller called the meeting to order at 6:33 a.m. Board Members present were
John Yeager, Demond Dawkins and Bryan Brokaw.
Ex-officio members Mayor Eric Hogue and City Manager Mindy Manson were present.
WEDC staff present was Executive Director Sam Satterwhite, Assistant Director Jason Greiner
and Senior Assistant Angel Wygant.
CITIZEN PARTICIPATION
With no citizen participation, President Fuller proceeded to Action Items.
ACTION ITEMS
ITEM NO. 1 — Consider and act upon approval of the June 19, 2017 Minutes of the Wylie
Economic Development Corporation DC) Board of Directors Meeting.
MOTION: A motion was made by John Yeager and seconded by
Bryan Brokaw to approve the June 19, 2017 Minutes of the Wylie Economic
Development Corporation. The WEDC Board voted 4 — FOR and 0 —
AGAINST in favor of the motion.
ITEM NO. 2—Consider and act upon approval of the May 2017 WEDC Treasurers Report.
Staff noted that Incentive payments were made to Freudiger(payment 3 of 3) and to All State Fire
(payment 2 of 3) in a pro-rated amount previously approved by the Board. As well, CFA closed
on the purchase of WEDC property on Highway 78 on June 20th with funds wired into WEDC
accounts held at the City of Wylie. From the sale proceeds and as planned for in the FY 2016 —
2017 WEDC Budget, staff discussed the intent to make a $1 mm payment to American National
Bank as principal reduction on a loan secured to fund land acquisitions associated with the project.
MOTION: A motion was made by Demond Dawkins and seconded by
John Yeager to approve the May 2017 Treasurers Report for the Wylie
Economic Development Corporation. The WEDC Board voted 4—FOR and
0—AGAINST in favor of the motion.
WEDC—Minutes
June 21, 2017
Page 2 of 5
President Fuller proceeded to Action Item No. 5.
ITEM NO. 3 —Consider and act upon issues surrounding the DC entering into a Listing
Agreement for brokerage services.
Staff informed the Board that,as previously directed by the Board,he had met with representatives
from CBRE, Edge Realty Partners, Falcon Realty Advisors, Henry S. Miller, The Retail
Connection and Davidson Bogle Real Estate. Of the firms interviewed, staff believed that 2 firms
separated themselves as best suited for the needs of the WEDC—The Retail Connection and Edge
Realty Partners.
Staff commented that while most every firm would provide excellent service and representation;
Edge Realty Partners has the most comprehensive knowledge of the market. The Board directed
staff to negotiate a brokerage agreement with Edge Realty Partners with the caveat that all projects
discussed within Executive Session to date be excluded.
MOTION: A motion was made by Todd Wintters and seconded by John Yeager to
proceed with an Agreement between the WEDC and Edge Realty Partners for
brokerage services with the caveat that all projects discussed within Executive
Session to date be excluded from the Agreement. The WEDC Board voted
4—FOR and 0—AGAINST in favor of the motion.
President Fuller proceeded to Item 6.
ITEM NO.4-Consider and act upon issues surrounding a Performance Agreement between
the WEDC and AMB Investments.
Staff indicated that per prior direction from the Board in Executive Session, a Performance
Agreement has been drafted for review and approval pertaining to fmancial assistance to AMB
Investments, Inc. (doing business as Taco Delight). AMB approached WEDC for assistance with
a $100,000 construction program consisting of renovations/upgrades including improvements to
exterior façade, lighting and infrastructure. Since initial discussions, the project expanded to
$130,000
While staff quoted preliminary figures of$14,000 in Qualifying Infrastructure, staff was only able
to identify $8,400 which is eligible for WEDC assistance.
Staff recommended that the WEDC Board of Directors approve a Performance Agreement
between the WEDC and AMB Investments, Inc. authorizing an incentive package of$8,400 based
upon the satisfaction of all called for Performance Requirements.
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June 21, 2017
Page 3 of 5
MOTION: A motion was made by Bryan Brokaw and seconded by John Yeager to
approve a Performance Agreement between the WEDC and AMB
Investments, Inc. authorizing an incentive package of$8,400 based upon the
satisfaction of all Performance Requirements. The WEDC Board voted 5 —
FOR and 0—AGAINST in favor of the motion.
Todd Wintters arrived at 6:53 a.m.
President Fuller proceeded to Item 7.
ITEM NO.5—Consider and act upon issues surrounding a Performance Agreement between
the WEDC and T.W. Snider and Associates.
Staff reviewed for the Board that under the Snider Performance Agreement executed on 11-10-16,
Snider was eligible to receive up to $50,000 in incentives. Snider completed the finish out of
Phase II and received incentive payment No. 1 in the amount of$8,000. However,Snider informed
staff he will not meet the performance measures for Phase III.
Staff recapped the project for the Board and emphasized that this project has resulted in 7 new or
retained businesses, 9,600 square feet of finished office space, and existing parking to support an
additional 6,000 square feet in office space on a property ill-suited for any type of development
given the location, visibility, and access. Staff recommended that the WEDC Board of Directors
declare T.W. Snider&Associated, LLC in default of its Performance Agreement with the WEDC
and void in advance eligible incentive payments within Section II (b) thus terminating the
Agreement.
MOTION: A motion was made by John Yeager and seconded by Demond Dawkins to
declare T.W. Snider & Associates, LLC in default of its Performance
Agreement with the WEDC and void in advance eligible incentive payments
within Section II(b)thus terminating the Agreement. The WEDC Board voted
4—FOR and 0—AGAINST in favor of the motion.
President Fuller proceeded to Action Item 4.
DISCUSSION ITEMS
ITEM NO. 6—Discuss WEDC FY 2017—2018 Preliminary Budget.
In the interest of time, Marvin Fuller suggested that this item be Tabled to the next Meeting of the
WEDC Board of Directors.
MOTION: A motion was made by John Yeager and seconded by Demond Dawkins to
Table this item until the next Meeting of the WEDC Board of Directors. The
WEDC Board voted 4 —FOR and 0 —AGAINST in favor of the motion.
WEDC—Minutes
June 21, 2017
Page 4 of 5
ITEM NO. 7 — Staff report: Staff reviewed issues surrounding WEDC Performance Agreement
Summary, Environmental Activity Summary, ICSC 2017 Real Estate Conference, Highway 78
WEDC Pad Sites, F.M. 544 / City of Wylie pad sites, WEDC Strategic Planning, and regional
housing starts.
Staff noted that the ICSC 2017 Real Estate Conference was very successful resulting in discussions
with new prospects including a sporting goods retailer, office suite buildings and mixed-use
projects. Staff emphasized that Jason Greiner met with an exciting new prospect looking to bring
a project that could even be bigger than Woodbridge Crossing.
Bryan Brokaw mentioned that this show was an excellent educational event and should be required
for all new Board Members in the future.
In the interest of time, President Fuller decide to Table the remainder of the Staff Report until after
Executive Session and move into Executive Session.
President Fuller proceeded to Executive Session before the conclusion of Item 7 which was
continued following Executive Session.
Staff report (continued): Staff resumed reviewing issues surrounding WEDC Perforniance
Agreement Summary, Environmental Activity Summary, ICSC 2017 Real Estate Conference,
Highway 78 WEDC Pad Sites, F.M. 544/City of Wylie pad sites, WEDC Strategic Planning, and
regional housing starts.
Staff suggested to the Board a Strategic Planning Session solely dedicated to future decision
making on various projects anticipated coming before the WEDC in the next 12 — 24 months.
Staff believed that one or two meetings solely dedicated to short and long-term planning goals and
objectives is warranted. President Fuller directed staff to send out a meeting request to Board
Members within the first two weeks of August.
No action was requested by staff for this item.
President Fuller proceeded to Item 3.
EXECUTIVE SESSION
Recessed into Closed Session at 7:02 a.m. in compliance with Section 551.001, et.seq. Texas
Government Code, to wit:
Demond Dawkins left at 7:17 a.m. and returned at 7:38 a.m.
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:
• Ballard & College
WEDC—Minutes
June 21, 2017
Page 5 of 5
• Jackson& Oak
• Birmingham & Hwy 78
• Ballard & Brown
• Highway 78 & Cooper
• Brown & 78
Section 551.087 (Economic Development) of the Local Government Code,Vernon's Texas Code
Annotated(Open Meetings Act).
• Project 2017-1a
• Project 2017-2a
• Project 2017-6a
• Project 2017-6b
• Project 2017-6c
Bryan Brokaw departed at 8:37 a.m.
Mindy Manson departed at 9:02 a.m.
CO NE INTO OPEN MEETING
The WEDC Board of Directors reconvened into open session at 9:23 a.m. and took no action.
ADJOURNMENT
With no further business, President Fuller adjourned the WEDC Board meeting at 9:40 a.m.
Marvin Fuller, President
ATTEST:
Samuel Satterwhite,Director