10-13-1992 (WEDC) Minutes DIRECTORS OF DEVELOPMENT CORPORATION OF WYLIE , INC .
MINUTES
OCTOBER 13 , 1992
The Directors of the Development Corporation of Wylie , Inc . met
in regular session at 4 : 00 P.M. on Tuesday, October 13 , 1992 in
the Development Corporation's office at the Municipal Complex.
A quorum was present and notice of the meeting had been posted in
the time and manner required by law. Those present were Jim
Smith , President; James Blakey, Vice President; John Yeager ,
Secretary Treasurer and members John Tobin and John Mondy .
Executive Director Charlie Womack, Mayor John Akin, Councilwoman
Allen and City Manager Steve Norwood were also present . In
attendance from the City Staff was Anita Collins .
Jim Smith called the meeting to order .
DISCUSS AND CONSIDER APPROVAL OF MINUTES OF OCTOBER 13 , 1992
REGULAR MEETING : A correction was made - under other business ,
item b it should read "Discuss the Need for the Corporation to
Rent a Post Office Box" not "Discuss the Need for the Corporation
to Rent a Post Office Post" . With this correction being made
John Yeager made a motion that the minutes be approved, seconded
by John Tobin. The motion carried with all in favor .
DISCUSS AND CONSIDER APPROVAL OF TREASURER'S REPORT: The
Treasurer's Report (See attached report at the end of these
minutes) reported the following:
Balance as of August 31 , 1992 $319 , 502 . 24
September Revenues 17 , 131 . 46
September Expenses 2 , 033 . 38
Petty Cash Expenses 21 . 75
Balance as of September 30 , 1992
James Blakey made a motion that the treasurer' s report be
accepted as written, seconded by John Tobin. The motion carried
with all in favor .
REPORT FROM EXECUTIVE DIRECTOR:
A. Current status of Master Brake Service , Inc . loan
transaction - Although the owners received the bid on
this property they failed to close the loan at the
appropriate time . It appears this is now a dead issue .
B . Current status of American Mold , Inc. request and
problems with the Texas Air Control Board - the hearing
for the expansion request is still pending before the
Texas Air Control Board. The Development Corporation
is not taking any action or stand on this item.
C. Up-date on move of office from City Hall to the Wylie
Chamber of Commerce facility - the move is scheduled for
October 16 , 1992 .
D. Current status report of efforts being made to relocate
the Goldin Pickle facility to Wylie - Garland has
finally issued them a building permit and they will be
building their new facility in Garland. Should there be
some type of problem to prevent them from building in
Garland they will take another look at Wylie.
OTHER BUSINESS
A. Discuss and consider loan request of Robert Arden -
Mr. Arden made a bid to purchase the building that he
houses his restaurant in and he received the bid. He
has requested assistance from the Development Corp. in
the form of a secured loan. After a lengthy discussion
and careful consideration John Tobin made a motion that
this request did fit the Corporation's criteria and that
we make the loan developed by the Executive Director
and subject to Mr. Arden taking care of delinquent taxes
owed the City for personal property taxes. The motion
was seconded by James Blakey. The motion carried with
four in favor and one abstain. President Jim Smith
abstained.
B. Discuss and consider purchase of industrial facility -
this discussion centered around purchasing a piece of
property now occupied by a company that has six
employees. The occupant would be willing to sign a
lease if we are successful in our bid to purchase this
real estate. John Yeager made a motion that we submit
a bid for $35 , 010 and authorize a 5% escrow payment of
$1 , 750 . 50 . The motion was seconded by James Blakey.
The motion carried with all in favor.
C. Discuss and consider a possible "Grant" of land
or building a facility to be leased to a major
corporation - this centered around a corporation that
employees some 250 people and is looking for a new
location. Representatives from the Development Corp.
will be meeting with the executives from this company
and this will be discussed further at a later date.
D. Discuss and make decision to enroll Executive Director
in a five and one-half day annual Basic Economic
Development Course being offered November 8-13 , 1992 by
Texas Engineering Extension Service, of the Texas A & M
University System, College Station, Texas - John Yeager
made a motion that we approve this expenditure of $510
for registration and expenses for room and board during
this period. John Tobin seconded the motion. The
motion carried with all in favor.
E. Sale of conference table to the City of Wylie
for $50 . 00 . The Development Corporation will not pay
any rent in October and in return will leave the
conference table now occupying their office.
F. Discuss audit proposal offered by Rutledge, Crain & Co,
P.C. - John Yeager made a motion that we allow the
Executive Director to negotiate a contract with the
auditors for less than a $1 ,000 . The motion was
seconded by James Blakey. The motion carried with all
in favor.
G. Discuss preparation of 1993 budget - see attached
proposed budget presentation. John Yeager made a
motion that we adopt the budget with the discussed
changes. James Blakey seconded the motion. The motion
carried with all in favor.
RECESS OPEN MEETING:
CONVENE TO WORKSHOP TO DISCUSS GOALS AND OBJECTIVES: No
discussion took place on this item.
RECONVENE REGULAR MEETING:
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 13 , 1992 , regular meeting approved by the
Board of Directors at its meeting on November 10 , 1992 .
41"/
n Y ge , Secretary
PREPARED BY :
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Anita Collins