03-09-1993 (WEDC) Minutes MINUTES
DEVELOPMENT CORPORATION OF WYLIE, INC.
MARCH 9, 1993
The Directors of the Development Corporation of Wylie, Inc., met in regular session on
Tuesday, March 9, 1993 at 4:00 PM in the Corporation 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 Jim Smith, Vice-President James Blakey,
Secretary-Treasurer John Yeager, members John Tobin and John Mondy and Executive Director
Charlie Womack. Also present were Mayor John Akin, City Manager Steve Norwood and
secretaries, Mary Nichols and Barbara LeCocq.
The meeting was called to order by President Jim Smith.
ITEM NO. 1 - DISCUSS AND CONSIDER APPROVAL OF MINUTES OF FEBRUARY
9, 1993 REGULAR MEETING OF THE DEVELOPMENT CORPORATION OF WYLIE.
INC. -President Smith called for any additions or corrections, hearing none, a motion was made
by John Yeager, seconded by John Mondy to approve the minutes as submitted. All in favor.
Motion carried.
ITEM NO. 2-DISCUSS AND CONSIDER TREASURER'S REPORT ENDING 2.28.93-
Discussion items were CD interest and availability of higher interest rate investment. Mr.
Norwood explained TEXPOOL. Mr. Womack stated that 90 day treasury bills were slightly
higher than CD's. The treasurer's report shows Total Cash Available $409,252.19, Expenses
$126,747.68, Petty Cash Balance Available $112.66, Total Demand Funds Available 3.1.93
$282,617.17; CD total Value $120,299.17; Total Corporate Funds 2.28.93 $402,916.34.
ITEM NO. 3 - REPORT FROM EXECUTIVE DIRECTOR:
A. Physicians Regional Hospital Status Report: Charlie Womack reported that the
hospital's law firm suggests that if the hospital cannot resolve problems with
parent company in Philadelphia, they file bankruptcy - let Cathy Sukkar and Steve
Miller go which would equal a total savings of $130,000. Projection at end of
year would be a positive cash flow of $100 thousand. Should not worry about
ability to repay debt.
B. American Molds Status Report: Mr. Wallace has received no response from the
Texas Air Control Board regarding his permit request. He has written the Air
Control Board demanding a decision be forthcoming soon or he would move his
operation out of state. He claims their delay has caused him considerable
financial damage. He appears to be reconciled that sufficient time and money has
been spent in trying to satisfy this unsympathetic political appointed board.
C. Major Employer Relocation Status Report: A week-long meeting will begin
3.15.93 in Florida at Corporate headquarters with the local principal officers of
the company. A possible decision will be made during this meeting on a possible
location. The local contact assured us that he would call on Tuesday, March 23,
and report on a possible decision approved by the Corporate office.
D. Perma-Tune Relocation Status Report: Mr. Lenarduzzi has been able to raise
sufficient funds to liquidate the indebtedness secured by a lien on his home. He
has been able to purchase equipment at an attractive price; Provident Bank has
agreed to finance the purchase when the equipment is permanently located in
Wylie. Seller has agreed to accept payment when financing has been arranged.
Business has been good and looks better with a large sale in Germany that will be
guaranteed with a negotiable Letter of Credit. Has agreed to furnish units on trial
basis for vehicles owned and operated by Mexico City. Plans to sign and return
our agreement when moving expenses are determined.
Jim Smith directed Mr. Womack to contact the principal to determine the status
of this move. Stated that the Development Corporation is committed to a$10,000
reimbursement of authorized expenses.
E. Discussion with R.L. Hunt Co. - Mr. Womack's status report states the company
will be engaged in the manufacturing and assembling of a structural honeycomb
panel which is the basic building unit for proposed affordable housing projects.
They project a manufacturing facility of 40,000 sq. ft, which can produce 30,000
panels per month per eight hour shift. Company is seeking start-up funds for
equipment purchases and working capital. There is no available existing facility
in Wylie; however, the Corporation might consider building one.
F. Visit with Ms. Virginia Lane - Ginny's Inc. - No additional information
received as of this time.
G. Visit with Jerry Morrow, D/B/A Morrow's - No additional discussion. Mr.
Morrow has no immediate plans to move his business out of Wylie. Corporation
made assurances to Mr. Morrow they would try to find a suitable building for his
operation or locate an investor who would build to suit his needs.
H. Status Report on 27th Annual Basic Economic Development Course scheduled for
March 21, 1993 to March 25, 1993 - Mr. Womack has been accepted and will be
attending in College Station. (see item 4)
Discussion with Jim Meara D/B/A The Meara Co. - This company is a land
brokerage firm located in Dallas. They are proposing to develop a tract of land
located on West Brown Street which includes ten remaining lots from the Fox and
Jacobs Development and the undeveloped property west of Nortex Nursery. They
are seeking re-zoning of one section from duplex to single-family residential.
They are also seeking help from the Development Corporation for the extension
of water or sewer service to the property. A meeting will be scheduled with the
City Manager to explore the possibilities.
J. Report Meeting with Greater Dallas Chamber of Commerce - Mr. Womack
attended this meeting which was focused on the environmental situation. Wylie
is rated a "6". By 1996 we must have ozone reduced to a "3". By 1994, all
service stations must have vapor pump. In 1994 auto inspections will be more
expensive.
ITEM NO. 4 - APPROVAL OF REQUEST TO RENT AUTOMOBILE TO A END
27TH BASIC ECONOMIC DEVELOPMENT COURSE IN COLLEGE STATION: A
motion was made by John Tobin for Mr. Womack to rent a car and use his own judgment as to
what kind of car to rent. Motion seconded by John Mondy. All in favor - motion carried.
ITEM NO. 5 - REVIEW AND DISCUSS TENTATIVE AND PRELIMINARY AUDIT
CONDUCTED BY RUTLEDGE CRAIN & CO._ P.C.: After a brief discussion, the
concensus was that there seemed to be no changes needed.
ITEM NO. 6 - RECESS OPEN MEETING TO CONVENE INTO EXECUTIVE
SESSION: Meeting recessed by President Jim Smith.
ITEM NO. 7 - EXECUTIVE SESSION:
A. Update on Land Purchase
B. Discuss purchase of Other Building Sites
ITEM NO. 8 -RECONVENE OPEN MEETING: Meeting reconvened. No action required.
ITEM NO. 9 - CITIZEN PARTICIPATION: None
ITEM NO. 10 - ADJOURNMENT: There being no further business, a motion was made and
seconded for adjournment. Meeting declared adjourned by President Jim Smith.
Jim Smith, President
Submitted by :
Barbara LeCocq