11-23-2004 (WEDC) Minutes Minutes
WYLIE ECONOMIC DEVELOPMENT CORPORATION
November 23,2004
Board Members Present
Gary Bartow
Gary Bowland
Marvin Fuller
John Yeager
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 November 23, 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 6:55 a.m.
ITEM NO. 1 —EXECUTIVE SESSION:
The WEDC Board of Directors convened into Executive Session at 6:56 a.m. to hold
deliberations regarding real property (sale of WEDC property located at 404 S. Highway 78 and
purchase of real property within the Wylie Community by the WEDC) as authorized in Section
551.072 of the Local 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 8:14 a.m.
During Executive Session, staff informed the WEDC Board of Directors that the Weitzman
Group had withdrawn their offer of$14.00 per square foot and confirmed that their offer stands
at $13.00 per square foot. Staff offered the following changes to the contract provided by Shafer:
1. Within Section 9.4, the word electric will be removed so that there will be no
misunderstanding that the WEDC will provide electric service to the site; and
2. Section 9.5 will be amended to "limit Sellers liability to Purchaser to all costs
associated with the construction of the road and identified utilities" pertaining to the
Cooper Drive extension; and
3. Section 9.6 will be clarified to reflect that Seller has applied for and funded a warrant
study to seek approval from TxDOT to locate a traffic signal at the northeast entrance
to the property.
WEDC—Minutes
November 23, 2004
Page 2
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MOTION: A motion was made by Gary Bowland and seconded by Gary Bartow to
Shafer offer of$13.25 per square foot and authorized staff to execute all
Documentation necessary to effectuate a contract. The WEDC Board of
Directors voted 3 —FOR and 1 —AGAINST in favor of the motion.
ITEM NO.3—Citizen Participation.
There being no citizen participation, President Fuller proceeded to Item No. 4.
ITEM NO. 4—Adjourn.
There being no further business, the meeting was adjourned at 8:20 a.m.
Marvin Fuller, President
Attest:
f -
Samuel D. R. Satterwhite
Executive Director