06-28-2004 (WEDC) Minutes Minutes
WYLIE ECONOMIC DEVELOPMENT CORPORATION
June 28, 2004
Board Members Present
Gary Bartow
Gary Bowland
Marvin Fuller
John Yeager
Merrill Young (departed at 9:15 a.m.)
Staff Present
Samuel Satterwhite, Executive Director
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 June 28, 2004 in the Dividend Room of Inwood National
Bank located at 201 North Ballard, Wylie, Texas.
The meeting was called to order by President Marvin Fuller at 7:00 a.m.
ITEM NO. 1 — Consider and Act Upon Approval of Minutes for the June 4, 2004 Regular
Board of Directors Meeting of the WEDC.
MOTION: A motion was made by John Yeager and seconded by Merrill Young
approving the minutes for the June 4, 2004 Regular Board of Directors
Meeting of the WEDC. The WEDC Board of Directors voted 5 — FOR
and 0—AGAINST in favor of the motion.
ITEM NO. 2 - Consider and Act Upon Approval of the May, 2004 Treasurer's Report for
the Wylie Economic Development Corporation.
MOTION: A motion was made by Merrill Young and seconded by Gary Bowland
approving the May, 2004 Treasurer's Report for the Wylie Economic
Development Corporation. The WEDC Board of Directors voted 5 —FOR
and 0—AGAINST in favor of the motion.
ITEM NO. 3 —Discuss and Consider Issues Surrounding a Strategic Plan for the WEDC.
Staff reviewed with the WEDC Board of Directors the primary points to be addressed with the
proposed WEDC Strategic Plan. The development issues to be addressed are as follows:
1. Demolition (redevelopment of the Carlisle facility on F.M. 544;
2. Develop specific priorities for the redevelopment of the Regency Business Park corridor;
3. Identify acreage required and specific funding for the creation of a business park
environment to be utilized for B.E.&H., Mann Made, and industrial businesses along
Cooper Drive; and
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June 28, 2004
Page 2
4. Develop a package of incentives for industrial businesses relocating from the Wylie
corridors and retail centers.
Staff committed to the Board that a draft copy of the Strategic Plan will be available for review
by the end of August and a final version presented to the Wylie City Council by the end of
September. The above was an information item only with no motion or action required by the
Board.
ITEM NO. 4 — Consider and Act Upon Issues Surrounding the WEDC FY 2004 — 2005
Budget.
Staff presented a draft version of the WEDC FY 2004 — 2005 Budget. Total revenues presented
equaled $912,145 with expenses estimated at $938,157 (increase in expenses represents $25,012
fund balance and $1,000 interest income).
Staff highlighted the following initiatives/amounts for Board members to consider:
1. Personnel Services of$172,763 inclusive of salary and benefits of Executive Director, car
allowance for Executive Director, potential monies available for a merit raise as outlined
in the WEDC bonus structure, and $12,000 cost participation for Administrative
Assistant position;
2. Fixed incentives of $344,765 including previously negotiated agreements with Carlisle,
Southern Fastening, Tom Alred, Moulding Associates, Bayco, and Extruders;
3. Discretionary incentives identified for unanticipated economic development projects of
$57,127;
4. Debt service of $217,782 for existing notes with American National Bank and the
Birmingham Land Trust as well as the purchase of±25 acres for a business park;
5. Advertising of $7,200 including promotions within the Dallas Business Journal, Inside
Collin County Business, the Wylie News, and the Wylie Chamber of Commerce
membership Directory;
6. Community Development of$5,240;
7. Travel, Training, and Recruitment of $9,340 including professional training and
conferences and Collin County Days; and
8. Audit and Legal Services of$10,000.
President Fuller suggested that each Board member contemplate personal preferences as they
may relate to goals and objectives to the strategic plan framework. President Fuller also
suggested the WEDC initiate a stronger financial presence in the Wylie Chamber of Commerce.
The above was an information item only with no motion or action required by the WEDC Board.
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June 28, 2004
Page 3
ITEM NO. 5 — Consider and Act Upon the Election of Officers for the WEDC Board of
Directors.
Board members Bowland and Young recommended the following slate of officers to the Board:
Marvin Fuller President
Merrill Young Vice President
Gary Bartow Secretary
Gary Bowland Treasurer
MOTION: A motion was made by John Yeager and seconded by Gary Bowland to
elect the slate of officers as recommended. The WEDC Board of Directors
voted 4—FOR and 0—AGAINST in favor of the motion.
ITEM NO. 6- EXECUTIVE SESSION:
The WEDC Board of Directors convened into Executive Session at 8:22 a.m. to hold
deliberations surrounding the sale of WEDC property located at 404 S. Highway 78 in
accordance with Section 551.072, and hold deliberations surrounding personnel matters
(Employment Agreement between WEDC and Executive Director) as authorized in Section
551.075, both in accordance with Government Code, Vernon's Texas Code Annotated (Open
Meetings Act).
ITEM NO. 7—RECONVENE INTO OPEN MEETING:
The WEDC Board of Directors reconvened into open meeting at 9:30 a.m. No motion was made
or action taken as a result of discussion surrounding the sale of WEDC property located at 404 S.
Highway 78 North.
Staff did present a Bonus Compensation Plan to be inserted into the existing Employment
Agreement between the WEDC and the Executive Director. A matrix was presented to the
Board which provided up to a maximum 12.5% bonus with criteria for receiving a bonus
reflective # of jobs created/retained, and/or gross annual payroll added, and/or new capital;
investment. Other clerical issues were clarified such as current salary and car allowance,
effective date of Agreement, and a change in Section numbers impacted by the addition of
Section 5: bonus Compensation Plan.
The Bonus Compensation Plan was a concerted effort between staff and the Board in an effort to
quantify all future increases in compensation.
MOTION: A motion was made by Gary Bartow and seconded by John Yeager to
approve the Employment Agreement, as amended, between the WEDC
and its Executive Director. The WEDC Board of Directors voted 4 —FOR
and 0—AGAINST in favor of the motion.
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June 28, 2004
Page 4
ITEM NO. 8—Staff Report.
Staff updated the Board on new single family permits issued in Wylie to date and Wylie's #29
ranking in D Magazine's `Rating the Suburbs'.
ITEM NO. 9—Citizen Participation.
There being no citizen participation, President Fuller proceeded to Item No. 10.
ITEM NO. 10—Adjourn.
There being no further business, the meeting was adjourned at 9:35 p.m.
blAVIA fKf/ j
Marvin Fuller, President
Attest:
Samuel D.R. Satterwhite
Executive Director