08-16-2004 (WEDC) Minutes Minutes
WYLIE ECONOMIC DEVELOPMENT CORPORATION
August 16,2004
Board Members Present
Gary Bartow
Gary Bowland
Marvin Fuller
Merrill Young
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 August 16, 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 6:58 a.m.
ITEM NO. 1 — Consider and Act Upon Approval of Minutes for the August 4, 2004
Regular Board of Directors Meeting of the WEDC.
MOTION: A motion was made by Merrill Young and seconded by Gary Bartow
approving the minutes for the August 4, 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 - EXECUTIVE SESSION:
The WEDC Board of Directors convened into Executive Session at 7:00 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
(Evaluation of Executive Director) as authorized in Section 551.075, both in accordance with
Government Code, Vernon's Texas Code Annotated (Open Meetings Act).
ITEM NO. 3 —RECONVENE INTO OPEN MEETING:
The WEDC Board of Directors reconvened into open meeting at 7:30 a.m.
During Executive Session, staff presented a request for extension from The Stainback
Organization on contracts between the WEDC and Stainback. Stainback requested a 60-day
extension on the contract for Lots 1 & 2 and the contract on Lot 3. Staff reminded the Board that
both contracts have $5,000 in earnest money with $1,000 for independent consideration.
While maintaining the belief that a Starbucks will be beneficial to overall site, the Board also
believed that the continued time delays are representative of a deteriorating relationship between
WEDC —Minutes
August 16, 2004
Page 2
Stainback and Starbucks. The Board was also frustrated with the lack of progress on the
engineering of Cooper Drive extension. President Fuller, along with Board member Bowland,
believes that the WEDC should initiate the engineering and construction of the extension
regardless of the outcome of negotiations with Stainback. The Board instructed staff to reply to
Stainback that the WEDC will agree to 60-day contract extensions on both contracts with
additional independent consideration of $1,000 per 30-day period. As well, the WEDC will
assume responsibility for the construction of Cooper Drive extension with Stainback being
responsible for 50% of the development costs.
MOTION: A motion was made by Gary Bartow and seconded by Merrill Young
authorizing a 60-day extension on contracts between the WEDC and The
Stainback Organization based upon an increase in independent
consideration and the WEDC assuming responsibility for Cooper Drive
extension. The WEDC Board of Directors voted 4 — FOR and 0 —
AGAINST in favor of the motion.
Also within Executive Session, the WEDC Board discussed issues surrounding the performance
of the Executive Director as it relates to Section 5 (Bonus Compensation Plan) within the
Employment Agreement with its Executive Director. Based upon the forthcoming closing with
Bayco Products, Inc. and ongoing efforts of the Executive Director within the FY 2003 — 2004,
the WEDC Board of Directors took the following action.
MOTION: A motion was made by Gary Bowland and seconded by Merrill Young
approving a bonus for the WEDC Executive Director in the amount of
$3,500 as per the guidelines set forth within Section 5 of the Employment
Agreement between the WEDC and the WEDC Executive Director. The
WEDC Board of Directors voted 4 — FOR and 0 — AGAINST in favor of
the motion.
ITEM NO. 4—Staff Report.
Staff updated the Board on issues surrounding Sanden International, Greenway Investments, the
cloUsing of the Bayco project, and issues surrounding permitted land uses on the Carlisle site on
F.M. 544.
ITEM NO. 5—Citizen Participation.
There being no citizen participation, President Fuller proceeded to Item No. 6.
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August 16, 2004
Page 3
ITEM NO. 6—Adjourn.
There being no further business, the meeting was adjourned at 8:20 a.m.
11/161
Marvin Fuller, President
Attest:
Samuel D.R. Satterwhite
Executive Director