10-12-1993 (WEDC) Minutes DIRECTORS OF DEVELOPMENT CORPORATION OF WYLIE, INC.
MINUTES
OCTOBER 12 , 1993
The Directors of the Development Corporation of Wylie, Inc. met in
regular session at 4 :00 P.M. on Tuesday, October 12 , 1993 in the
Development Corporation' s office at 108 W. Marble, Wylie, Texas .
A quorum was present and notice of the meeting had been posted in
the time and manner required by law. Those present were President
Raymond Cooper, Vice President John Tobin, Secretary/Treasurer John
Yeager and member John Mondy. Executive Director Charlie Womack,
Mayor John Akin, Councilwoman Rita Allen, City Manager Steve
Norwood and Administrative Assistant Mike Collins were also
present . In attendance from the City Staff was Anita Collins .
President Raymond Cooper called the meeting to order.
DISCUSS AND CONSIDER APPROVAL OF MINUTES OF SEPTEMBER 10 , 1993
REGULAR MEETING: There being no corrections to the minutes a
motion was made by John Yeager to approve the minutes as written.
The motion was seconded by John Tobin. The motion carried with all
in favor.
DISCUSS AND CONSIDER TREASURER' S REPORT ENDING 09/31/93 : Total
corporate funds available for investment as of September 31 , 1993
were $355 ,870 . 66. Expenses for September were $3 , 917 . 74 and
revenues were $19,006 . 79 . A motion was made by John Tobin to
approve the report as written. The motion was seconded by John
Mondy. The motion carried with all in favor.
REPORT FROM EXECUTIVE DIRECTOR: Mr . Womack gave a report of the
September activities which included a report on the Physicians
Regional Hospital .
A reorganization plan for the hospital has been submitted to the
Bankruptcy Court by the hospital group and an alternate proposal
has been offered by American Healthcare Management . It has been
stated that if Mr. Wedekind, who was released of his duties by the
trustee, is not reinstated all physicians associated with the
hospital and current administrative staff will submit their
resignation. The trustee has instructed American National Bank-
Wylie to offset their debt against the Certificate of Deposit that
was pledged by the Development Corporation of Wylie, Inc . to secure
the indebtedness . The bank has agreed to delay this action until
the Corporation has had time to obtain legal advice on appropriate
action to be taken to secure a lien position against the hospital
and individual guarantors . There is a hearing scheduled for
October 20 , 1993 at the Bankrupcty Court in Tyler.
There has been no contact with the Major Employer since August .
They have extended their current lease for an additional year and
thus eliminated any need for an immediate relocation decision.
Jim Meara reported that General Homes , Inc . will not be purchasing
his property for development . Discussions are continuing with
United Homecraft and D.R. Horton Homes .
Mr. Womack has been unable to make contact with Allied Powder
Technologies , Inc .
Roberts Manufacturing Company has not reached any decisions on
their consolidation or relocation.
The Gerwin Corporation d/b/a The Merry Miler Company has found
suitable facilities in Seagoville to meet their immediate needs .
Wylie could still be a possible relocation site if they decide the
Seagoville address is inadequate for future growth.
Wescon ' 93 Trade Show was well attended and the convention
facilities were excellent . The booth location was not good.
ELECTION OF NEW DIRECTOR TO REPLACE MR. TIMOTHY S. ROBINSON: This
item was postponed pending the outcome of tonight 's City Council
meeting where they will appoint a new member.
REPORT BY CITY MANAGER, STEVE NORWOOD: Mr . Norwood reported to the
Development Corporation that Mike Collins will now be coordinating
all efforts for economic development . All questions regarding
zoning, available land, building specifications , etc. that a
prospective business might have should be directed to Mike .
APPROVE FINAL PAYMENT OF OUR FEBRUARY 10 , 1993 COMMITMENT TO
REIMBURSE THE WYLIE CHAMBER OF COMMERCE FOR SERVICES PROMOTING THE
CITY OF WYLIE: The Chamber has submitted a report of their
expenditures in this area and Mr. Cooper recommended payment of our
commitment . Mr. Yeager made a motion that we make the $7 ,500
payment to the Wylie Chamber of Commerce, seconded by Mr . John
Mondy . The motion carried with all in favor .
APPROVE THE LIQUIDATION OF OUR GUARANTY WITH AMERICAN NATIONAL
BANK, WYLIE, RELATING TO THEIR LOAN WITH HEALTHCARE ENTERPRISES OF
NORTH TEXAS, LTD. : A motion was made by John Tobin to buy the
note from American National Bank. This would make the Development
Corporation an unsecured creditor and would give us full recourse
against the guarantors . The motion was seconded by John Yeager.
The motion carried with all in favor .
RECESS OPEN MEETING
CONVENE TO EXECUTIVE SESSION:
A. Discuss Purchase Of Existing Industrial Building Lots
RECONVENE TO OPEN MEETING
ACTION FROM EXECUTIVE SESSION:
A. Mr. Mondy made a motion that we purchase the seven lots
that are still unoccupied on Business Way. We will make
the owner an offer of sixty cents ( . 60) per square foot .
If he doesn' t accept we will entertain a counter offer.
CITIZEN PARTICIPATION: None
There being no other business for discussion a motion was made and
seconded that the meeting be adjourned.
Minutes of the October 12 , 1993 , regular meeting approved by the
Board of Directors at its meeting on November 9, 1993 .
Ray nd Cooper'', President
///
PREPARED BY:
dd-1:6"' 2-1.-147"/-
Anita Collins