03-01-2004 (WEDC) Minutes Minutes
WYLIE ECONOMIC DEVELOPMENT CORPORATION
March 1, 2004
Board Members Present
Gary Bartow
Gary Bowland
Marvin Fuller
John Yeager
Staff Present
Samuel Satterwhite, Executive Director
Others Present
Kevin St. John
With notice of the meeting posted in time and manner required by law and a quorum of Board
members present, the Board of Directors of the Wylie Economic Development Corporation
(WEDC) met in Regular Session on March 1, 2004 in the Conference Room of Woodbridge Golf
Club located at 7400 Country Club Drive, Wylie, Texas.
The meeting was called to order by President Marvin Fuller at 7:16 a.m.
ITEM NO. 1 — Consider and Act Upon Approval of Minutes for the February 10, 2004
Regular Board of Directors Meeting of the WEDC.
MOTION: A motion was made by John Yeager and seconded by Gary Bowland
approving the minutes for the February 10, 2004 Regular Board of
Directors Meeting of the WEDC. The WEDC Board of Directors voted 4
—FOR and 0—AGAINST in favor of the motion.
ITEM NO. 2 - Consider and Act Upon Approval of the January, 2004 Treasurer's Report
for the Wylie Economic Development Corporation.
MOTION: A motion was made by Gary Bowland and seconded by John Yeager
approving the January, 2004 Treasurer's Report for the Wylie Economic
Development Corporation. The WEDC Board of Directors voted 4—FOR
and 0—AGAINST in favor of the motion.
ITEM NO. 3 - EXECUTIVE SESSION:
The WEDC Board of Directors convened into Executive Session at 7:30 a.m. to hold
deliberations surrounding the sale of WEDC property located at 404 S. Highway 78 in
accordance with Section 551.072, Government Code, Vernon's Texas Code Annotated (Open
Meetings Act), hold deliberations regarding economic development negotiations between the
WEDC and Project "Bright Light" in accordance with Section 551.087, Government Code,
WEDC—Minutes
March 1, 2004
Page 2
Vernon's Texas Code Annotated (Open Meetings Act), and hold deliberations surrounding the
purchase of real property in accordance with Section 551.072, Government Code, Vernon's
Texas Code Annotated (Open Meetings Act).
ITEM NO. 4—RECONVENE INTO OPEN MEETING:
The WEDC Board of Directors reconvened into open meeting at 8:45 a.m.
Discussions were held regarding the purchase of ±5 acres, from the Richard Parker group,
directly west of the 5.01 acres fronting Sanden Boulevard recently purchased by the WEDC from
the Birmingham Land Trust. As well, the purchase of County R.O.W. adjacent and fronting the
WEDC 5-acre tract located on State Highway 78 was discussed.
Staff indicated that the acquisition of the Parker tract is required for the "Bright Light" project
being that "Bright Light" has expanded their concept plan of 95,000 square feet to 100,080
square feet. Staff further explained that the Parker tract impacts not only the WEDC site but a 5-
acre tract owned by Southern Fastening Systems, Inc. Mr. Parker quoted the WEDC a total
purchase price of$75,000 for the ±2 acres adjacent to Southern Fastening Systems and ±3 acres
adjacent to the WEDC tract. Southern Fastening has committed to fund $30,000 of the purchase
price while the WEDC will be responsible for the balance of $45,000. Staff indicated that
"Bright Light"has committed to fund $30,000 for the applicable 3-acre site which will be platted
together with the WEDC 5.01 acres being offered in the "Bright Light" incentive package. Staff
was confident that the remaining $15,000 will be funded by "Bright Light" and encouraged the
WEDC Board of Directors to move forward on negotiations with Mr. Parker for the purchase.
President Fuller directed staff to secure "Bright Light" funding at the time of closing so that
"Bright Light" will be financially committed to the land as well conceptually committed to the
project.
Staff also presented preliminary discussions with a developer negotiating for the purchase of 2
pad sites within the WEDC 5-acre tract on State Highway 78. Staff recommended that the
WEDC initiate the purchase process for County R.O.W. fronting the WEDC tract as it will be
combined with the overall development of the WEDC site. The County process involves the
survey of the County R.O.W., an appraisal by an independent appraiser hired by the County(both
funded by the WEDC), and final approval by the Collin County Commissioners Court for the
R.O.W. sale. Staff pointed out that regardless of a sale to the current developer interested in the
WEDC site or a future developer, the purchase of the County R.O.W. is an inevitable issue which
will have to be addressed.
MOTION: A motion was made by Gary Bowland and seconded by John Yeager
authorizing staff to initiate formal negotiations with the Richard Parker
group for the purchase±5 acres impacting the relocation of Project "Bright
Light". The WEDC Board of Directors voted 4 —FOR and 0 —AGAINST
in favor of the motion.
WEDC—Minutes
March 1, 2004
Page 3
MOTION: A motion was made by John Yeager and seconded by Gary Bowland
authorizing staff to initiate formal negotiations with Collin County for the
purchase of R.O.W. adjacent to the WEDC 5-acre tract on State Highway
78. The WEDC Board of Directors voted 4 — FOR and 0 — AGAINST in
favor of the motion.
ITEM NO. 5—Staff Report.
Staff had no new information for Board members.
ITEM NO. 6—Citizen Participation.
There being no citizen participation, President Fuller proceeded to Item No. 7.
ITEM NO. 7—Adjourn.
There being no further business, the meeting was adjourned at 8:55 a.m.
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.
Marvin Fuller,President
•
Attest:
Samuel D.R. Satterwhite
Executive Director