01-21-2019 (WEDC) Agenda Packet TICS S ETI
Wylie Economic Development
CORPORATION
Regular eeting Agenda
January 21, 2019— 12:00 P.M.
WEDC Offices—Conference Room
250 South Highway 78 —Wylie, Texas
Bryan Brokaw.....:. ........ . ........ ......... . ....... ......... .. ,..,. ....,. ........ President
Todd Wintters Vice President
John Yeager ........ ......... ..... .... .........Secretary
Demond Dawkins. ......... ......... ....Treasurer
Marvin Fuller Board Member
Mayor Eric Hogue Ex-Officio Member
Mindy Manson,City Manager...::. ... .. .... ..... ..:. ........> ...,...:: .......:......;_Ex-Officio Member
Samuel Satterwhite .......... ........ .....,... ......... .......:: Executive Director
Jason Greiner........ .. ..... .........: ... ........ ... ... .... ..... ....... . ...................Assistant Director
Angel Wygant....... ......... ....... . . . ......: .. . .... . . ... ..... ...... ... ........: .........Senior Assistant
In accordance with Section 551.042 of the Texas Government Code, this agenda has been posted at the Wylie
Municipal Complex, distributed to the appropriate news media, and posted on the City Website: wwwv wvlietexac.gpv
within the required time frame.
CALL TO ORDER
Announce the presence of a Quorum.
INVOCATION & PLEDGE OF ALLEGIANCE
CITIZEN PARTICIPATION
Residents may address the WEDC Board regarding an item that is or is not listed on the agenda. Residents must
provide their name and address. The WEDC Board requests that comments be limited to three (3) minutes. In
addition, the WEDC Board is not allowed to converse, deliberate or take action on any matter presented during citizen
participation.
ACTION ITEMS
I. Consider and act upon approval of the December 19, 2018 Minutes of the WEDC Board of
Directors Meeting.
II. Consider and act upon approval of the December 2018 WEDC Treasurer's Report.
III. Consider and act upon issues surrounding the WEDC 2018 Annual Report.
IV. Consider and act upon a Property Management Agreement between the WEDC and Robert
Heath.
V. Consider and act upon issues surrounding the disposition of WEDC property located at 300
Brown Street.
VI. Consider and act upon FY 2018 —2019 WEDC Budget Amendment#1.
WEDC —Agenda
January 21, 2019
Page 2 of 2
DISCUSSION ITEMS
VII. Staff report: review issues surrounding WEDC Performance Agreement Summary, Hotel
Occupancy Tax, Environmental Activity Summary, Active Project Summary, and Regional
Housing Starts.
VIII. Discussion of issues to be placed on future WEDC Board Meeting agenda (no substantial
consideration/discussion allowed).
EXECUTIVE SESSION
Recess into Closed Session in compliance with Section 551.001, et.seq. Texas Government Code,
to wit:
Section 551.072 (Real Estate) of the Local Government Code, Vernon's Texas Code Annotated
(Open Meetings Act). Consider the sale or acquisition of properties located at:
• State Highway 78 & 5th Street
• State Highway 78 & Ballard
Section 551.087 (Economic Development) of the Local Government Code, Vernon's Texas Code
Annotated(Open Meetings Act). Deliberation regarding commercial or financial information that
the WEDC has received from a business prospect and to discuss the offer of incentives for:
• Project 2013-3a
• Project 2017-10c
• Project 2018-8b
• Project 2018-10b
RECONVENE INTO OPEN MEETING
Take any action as a result from Executive Session
ADJOU MENT
CERTIFICATION
I cert0;that this Notice of Meeting was posted on this 18!"day of January 2019 at 12:00 p.m. as required by law in
accordance with Section 551.042 of the Texas Government Code and that the appropriate news media was contacted.
As a courtesy, this agenda is also posted on the City of Wylie website:WWW.wylietexas.gov.
Stephanie Storm,City Secretary Date Notice Removed
mutes
Wylie Economic Development Corporation
Board of Directors Meeting
Wednesday, December 19, 2018 —7:00 A.M.
WEDC Offices—Conference Room
250 South Highway 78 — Wylie, Texas
CALL TO 0 ' I ER
Announce the presence of a Quorum
President Bryan Brokaw called the meeting to order at 7:03 a.m. Board Members present were
John Yeager, Marvin Fuller, Demond Dawkins and Todd Wintters.
Ex-officio members Mayor Eric Hogue and City Manager Mindy Manson were present.
WEDC staff present was Executive Director Sam Satterwhite, Assistant Director Jason Greiner,
and Senior Assistant Angel Wygant.
INVOCATION & PLEDGE OF ALLEGIANCE
Board Member Dawkins gave an invocation and led the Pledge of Allegiance.
CITIZEN PARTICIPATION
With no citizen participation, President Brokaw moved to Action Items.
ACTION ITEMS
ITEM NO. 1 — Consider and act upon approval of the December 10, 2018 Minutes of the
Wylie Economic Development Corporation (WEDC) Board of Directors Meeting.
MOTION: A motion was made by Todd Winners and seconded by Demond Dawkins to
approve the December 10, 2018 Minutes of the Wylie Economic
Development Corporation. The WEDC Board voted 5 — FOR and 0 —
AGAINST in favor of the motion.
Prior to consideration of the remaining Action Items, President Brokaw recessed into Executive
Session.
EXECUTIVE SESSION
Recess into Closed Session at 7:05 a.m. in compliance with Section 551.001, et. seq. Texas
Government Code, to wit:
Section 551.072 (Real Estate) of the Local Government Code, Vernon's Texas Code Annotated
(Open Meetings Act). Consider the sale or acquisition of properties located at:
WEDC—Minutes
December 19, 2018
Page 2 of 3
• State Highway 78 & 5th Street
• State Highway 78 & Ballard
Section, 551.087 (Economic Development) of the Local Government Code, Vernon's Texas Code
Annotated(Open Meetings Act). Deliberation regarding commercial or financial information that
the WEDC has received from a business prospect and to discuss the offer of incentives for:
• Project 2018-10b
Mayor Hogue left the meeting at 7:08 a.m.
City Manager Manson left the meeting at 7:14 a.m.
RECONVENE INTO OPEN MEETING
The WEDC Board of Directors reconvened into open session at 7:32 a.m. and moved to Action
Item No. 2.
ACTION ITEMS
ITEM NO. 2 — {Remove from Table} Consider and act upon ratifying an Agreement of
Purchase and Sale between the WEDC and Karan Associates, LLC for the acquisition of a
2.3866-acre tract of land situated in the Francisco De LA Pina Survey,Abstract No.686,and
the J. Truett Survey, Abstract No. 920, same being Lots 1-A-A and 1-A-B of City Lot 1-A,
City of Wylie,Texas as shown on the Revised Map recorded in Volume 1002,Page 194,Deed
Records, Collin County, Texas and further authorize WEDC President Brokaw to execute
all documentation necessary to effectuate the transaction as prescribed within the terms of
the Agreement, all subject to Wylie City Council approval of WEDC Resolution No.2018-01
(R).
MOTION: A motion was made by John Yeager and seconded by Demond Dawkins to
Remove Item from Table. The WEDC Board voted 5 — FOR and 0 —
AGAINST in favor of the motion.
MOTION: A motion was made by John Yeager and seconded by Todd Wintters to ratify
an Agreement of Purchase and Sale between the WEDC and Karan
Associates, LLC for the acquisition of a 2.3866-acre tract of land situated in
the Francisco De LA Pina Survey,Abstract No. 686, and the J. Truett Survey,
Abstract No. 920, same being Lots 1-A-A and 1-A-B of City Lot 1-A, City of
Wylie, Texas as shown on the Revised Map recorded in Volume 1002, Page
194, Deed Records, Collin County, Texas and further authorize WEDC
President Brokaw to execute all documentation necessary to effectuate the
transaction as prescribed within the terms of the Agreement, all subject to
Wylie City Council approval of WEDC Resolution No. 2018-01 (R). The
WEDC Board voted 5 —FOR and 0—AGAINST in favor of the motion.
ITEM NO. 3 — Consider and act upon a First Amendment to Performance Agreement
between the WEDC and Hooper-Woodbridge II,LLC.
WEDC—Minutes
December 19, 2018
Page 3 of 3
Board Member Yeager informed the Board that he had a business relationship with Hooper-
Woodbridge II, LLC. Board Members were polled, and it was determined that no Conflict of
Interest existed.
Staff reminded the Board that on April 18,2018,the WEDC entered into a Performance Agreement
with Hooper-Woodbridge II, LLC to provide assistance with the development of qualified
infrastructure in the amount of$20,000. To qualify for assistance, Mr. Lanman was to obtain a
Building Permit and Certificate of Occupancy(CO)for a 5,500 square foot medical office building
located at 505 Woodbridge Parkway with a project cost of$750,000 and qualified infrastructure
at a minimum cost of$20,000.
Staff recently recognized that the intent of the Agreement does not match the required Performance
Measures. Staff and Hooper-Woodbridge had intended for the Agreement to reflect that the
building be partially leased with a Certificate of Completion in place for the balance of the
property. Staff presented a First Amendment that more accurately reflected that intent.
MOTION: A motion was made by Marvin Fuller and seconded by Todd Wintters to
approve a First Amendment to Performance Agreement between Hooper-
Woodbridge II, LLC and the WEDC. The WEDC Board voted 5 —FOR and
0—AGAINST in favor of the motion.
ITEM NO. 4—December Sales Tax Report.
Staff informed the Board that December 2018 Sales Tax receipts increased 15.18% over 2017.
The November Treasurers Report was presented to the Board at the November 10th WEDC Board
Meeting,but the Sales Tax Report was not yet published. This data will be added to the Treasurers
Report and forwarded to the City Council for the January 8th Council Meeting.
ITEM NO. 5— Discussion of issues to be placed on a future WEDC Board Meeting agenda
(no substantial consideration/discussion allowed).
No Board Member requested any items to be placed on future Agendas.
ADJOU ' MENT
With no further business, President Brokaw adjourned the WEDC Board meeting at 7:44 a.m.
Bryan Brokaw,President
ATTEST:
Samuel Satterwhite, Director
ylie Econo ic I evelop ent Corporation
E 0 - A DU
TO: Samuel Satterwhite, Executive Director ,
FROM: Angel Wygant, Senior Assistant
SUBJECT: December 2018 Treasurer's Report
DATE: January 8, 2019
Issue
Consider and act upon approval of the December 2018 WEDC Treasurer's Report.
Anal sis
For the second month in a row, Sales Tax Receipts are significantly up over the prior year. This
month, the WEDC sales tax receipts were $223,750 representing a 16.22% increase over 2018.
From the Balance Sheet,page 1:
Deposits - $2,000. This amount reflects a $2,000 deposit paid to Wylie Industrial Court for the
current location of the WEDC office.
Account Rec — Forgivable Loans - $210,000. This figure represents the loan made to Exco
Extrusion Dies in the amount of$350,000. The first 2 loan payments were forgiven on February
24, 2017 and February 24, 2018 respectively, in accordance with the terms of the Performance
Agreement. Assuming Exco remains in compliance, the remaining 3 loan payments will be
forgiven in equal amounts of$70,000 on an annual basis effective February 24th
Deferred Outflows - $540,688.87. This is a total of incentive payments which are due in the
future. A breakdown of these charges includes: B & B Theatres - $25,000, Carrie Elle - $2,500,
Exco Extrusion Dies — $40,000, DCU - $31,988.80, DANK Real Estate - $83,000, MIKTEN -
$10,000, Cross Development - $250,000, Hooper-Woodbridge - $20,000, SCSD-Finnell -
$75,000, Taylor& Son- $3,200.
Balance Sheet,page 2:
Deferred Inflow - $117,000. This figure represents the Exco Extrusion Dies forgivable loan
which will be reduced by $39,000 annually over a 5-year period. The annual $39,000 amount
represents one fifth of the $195,000 gain that would have occurred if the loan forgiveness were
not in place ($350,000 - $155,000 = $195,000). The first and second payments of$39,000 were
forgiven on 2-24-17 and 2-24-18, respectively, with three payments remaining.
WEDC December 2018 Treasurers Report
January 8, 2019
Page 2 of 3
Revenue and Expense Report,page 2:
Rental Income— $6,438.36. Turner credit against purchase price - $503.36, Austin Said - $3,000,
Richmond Hydromulch - $500, Helical Concepts - $400, Trimark - $1,035, Wylie Northeast -
$1,000.
Bank Note Proceeds: $1,455,166.78. ANB Loan Draw #1 - $204,775.58, Draw #2 -
$1,250,391.20.
Revenue and Expense Report,page 3:
Office Supplies - $53.10. General Office Supplies.
Food Supplies - $103.73. WEDC Board Meeting Meals ($62.62), Office Luncheon($41.11).
Computer: $1,975. Annual IT Contract/ Server Maintenance.
Incentives - $2,500. Carrie Elle—Incentive 1 of 2.
Special Services — $42,059.03. Environmental Assessments ($33,250), Waterline Supplies
($7,024.45), Jackson Alley Design ($1,532.08). Qtly Pest Control ($95), Janitorial Svc
($157.50).
Advertising- $225. Wylie News -Veterans Day($75), Downtown Audio Ads - Qrtly ($150).
Community Development - $13,189.05. Rotary Sponsor ($67.60), Regional Broker Event
($8,435.78), Care Center Sponsor ($439.27), Manufacturers Day Luncheon ($496.40), WISD
Foundation Boots-n-BBQ Sponsor($1,500), WISD CTE Sponsor($2,250).
Travel & Training — $1,358.39. TML — Satterwhite ($752.53), Business Meeting/ Prospect
Recruitment ($205.48), KCS Meeting ($575.38), TEDC Reg. Credit (-$175).
Dues & Subscriptions - $710.67. Club Corp Dues.
Audit & I e!al - $9,685. Atty Fees: Property Purchases ($860), Environmental Review— Kirby
($3,825), ANB Loan—Doc Prep ($5,000).
Engineering & Architectural - $5,349.99. FM 544 Waterline Engineering.
Land - $1,743,346.59. Earnest money— pending purchases ($5,000), Purchases: 504 E. Brown
($308,179.81), 502 E. Brown ($204,775.58), 300 E. Brown ($1,225,391.20).
WEDC December 2018 Treasurers Report
January 8, 2019
Page 3 of 3
Recommendation
Staff recommends that the WEDC Board of Directors approve the December 2018 Treasurer's
Report.
Attachments
December 2018 Treasurer's Report
Wylie Economic Development Corporation
Statement of Net Position
As of December 31,2018
Assets
Cash and cash equivalents $ 1,312,402.49
Receivables $ 210,000.00 Note 1
Inventories $ 9,662,456.90
Prepaid Items $
Total Assets $ 11,184,859.39
Deferred Outflows of Resources
Pensions $ 126,847.55
Total deferred outflows of resources $ 126,847.55
Liabilities
Accounts Payable and other current liabilities $ 55,223.33
Unearned Revenue $ 120,000.00 Note 2
Non current liabilities:
Due within one year $ 387,661.65 Note 3
Due in more than one year $ 4,598,427.83
Total Liabilities $ 5,161,312.81
Deferred Inflows of Resources
Pensions $ (1,989.41)
Total deferred inflows of resources $ (1,989.41)
Net Position
Net investment in capital assets $ -
Unrestricted $ 6,152,383.54
Total Net Position $ 6,152,383.54
Note 1: Includes incentives in the form of forgivable loans for$210,000
Note 2: Exco amortization;deposits from rental property
Note 3: Liabilities due within one year includes compensated absences of$63,028
1-17-2019 02 17 PM CITY OF WYLIE PAGE: 1
BALANCE SHEET
AS OF: DECEMBER 31ST, 2018
111-WYLIE ECONOMIC DEVEL CORP
ACCOUNT# TITLE
ASSETS
1000-10110 CLAIM ON CASH AND CASH EQUIV. 1,310,402.49
1000-10115 CASH - WEDC - INWOOD 0.00
1000-10135 ESCROW 0.00
1000-10180 DEPOSITS 2,000.00
1000-10198 OTHER - MISC CLEARING 0.00
1000-10341 TEXPOOL 0.00
1000-10343 LOGIC 0.00
1000-10481 INTEREST RECEIVABLE 0.00
1000-11511 ACCTS REC. - MISC 0.00
1000-11517 ACCTS REC - SALES TAX 0.00
1000-12810 LEASE PAYMENTS RECEIVABLE 0.00
1000-12950 LOAN PROCEEDS RECEIVABLE 0.00
1000-12996 LOAN RECEIVABLE 0.00
1000-12997 ACCTS REC - JTM TECH 0.00
1000-12998 ACCTS REC - FORGIVEABLE LOANS 210,000.00
1000-14112 INVENTORY - MATERIAL/ SUPPLY 0.00
1000-14116 INVENTORY - LAND & BUILDINGS 9,662,456.90
1000-14118 INVENTORY - BAYCO/ SANDEN BLVD 0.00
1000-14310 PREPAID EXPENSES - MISC 0.00
1000-14410 DEFERRED OUTFLOWS 540,688.87
11,725,548.26
TOTAL ASSETS 11,725,548.26
LIABILITIES
2000-20110 FEDERAL INCOME TAX PAYABLE 0.00
2000-20111 MEDICARE PAYABLE 0.00
2000-20112 CHILD SUPPORT PAYABLE 0,00
2000-20113 CREDIT UNION PAYABLE 0.00
2000-20114 IRS LEVY PAYABLE 0.00
2000-20115 NATIONWIDE DEFERRED COMP 0.00
2000-20116 HEALTH INSUR PAY-EMPLOYEE 0.21
2000-20117 TMRS PAYABLE 0.00
2000-20118 ROTH IRA PAYABLE 0.00
2000-20119 WORKERS COMP PAYABLE 0.00
2000-20120 FICA PAYABLE 0.00
2000-20121 TEC PAYABLE 0.00
2000-20122 STUDENT LOAN LEVY PAYABLE 0.00
2000-20123 ALIMONY PAYABLE 0.00
2000-20124 BANKRUPTCY PAYABLE 0.00
2000-20125 VALIC DEFERRED COMP 0.00
2000-20126 ICMA PAYABLE 0.00
2000-20127 EMP. LEGAL SERVICES PAYABLE 0.00
2000-20130 FLEXIBLE SPENDING ACCOUNT 499.98
2000-20131 EDWARD JONES DEFERRED COMP 0.00
2000-20132 EMP CARE ELITE 12.00
2000-20151 ACCRUED WAGES PAYABLE 0,00
2000-20180 ADDIT EMPLOYEE INSUR PAY 48.00
2000-20199 MISC PAYROLL PAYABLE 0.00
1-17-2019 02:17 PM CITY OF WYLIE PAGE: 2
BALANCE SHEET
AS or DECEMBER 31ST, 2018
111-WYLIE ECONOMIC DEVEL CORP
ACCOUNT# TITLE
, ---------------
2000-20201 AP PENDING 5,319.59
2000-20210 ACCOUNTS PAYABLE 49,643.55
2000-20530 PROPERTY TAXES PAYABLE 0.00
2000-20540 NOTES PAYABLE 540,688,87
2000-20810 DUE TO GENERAL FUND 0.00
2000-22270 DEFERRED INFLOW 117,000.00
2000-22275 DEF INFLOW - LEASE PRINCIPAL 0.00
2000-22200 DEFERRED INFLOW - LEASE INT 0.00
2000-22915 RENTAL DEPOSITS 3,000.00
TOTAL LIABILITIES 716,212.20
EQUITY
3000-34110 FUND BALANCE - RESERVED 0.00
3000-34590 FUND BALANCE-UNRESERV/UNDESIG 9,729,021.76
TOTAL BEGINNING EQUITY 9,729,021.76
TOTAL REVENUE 1,694,864.56
TOTAL EXPENSES 414,550.26
REVENUE OVER/(UNDER) EXPENSES 1,280,314.30
TOTAL EQUITY & OVER/(UNDER) 11,009,336.06
TOTAL LIABILITIES, EQUITY & OVER/(UNDER) 11,725,548.26
1-10-2019 08:44 AM CITY OF WYLIE PAGE: 1
BALANCE SHEET
AS OF: DECEMBER 31ST, 2018
922-GEN LONG TERM DEBT (WEDC)
ACCOUNT# TITLE
ASSETS
1000-10312 GOVERNMENT NOTES (1.00
1000-18110 LOAN - WEDC 0.00
1000-18120 LOAN - BIRMINGHAM 0.00
1000-18210 AMOUNT TO BE PROVIDED 0.00
1000-18220 BIRMINGHAM LOAN 0,00
1000-19050 DEF OUTFLOW - CONTRIBUTIONS 33,377.29
1000-19075 DEF OUTFLOW - INVESTMENT EXP 21,519,48
1000-19100 DEF OUTFLOW - ACT EXP/ASSUMP 71,950,78
1000-19125 )GAIN)/LOSS ON ASSUMPTION CHG( 1,98941)
124,858.14
----------
TOTAL ASSETS 124,858.14
LIABILITIES
2000-20310 COMPENSATED ABSENCES PAYABLE 32,402.87
2000-20311 COMP ABSENCES PAYABLE-CURRENT 63,028.00
2000-21410 ACCRUED INTEREST PAYABLE 3,991.77
2000-28205 WEDC LOANS/CURRENT 320,641.88
2000-28220 BIRMINGHAM LOAN 0.00
2000-28230 INWOOD LOAN 0.00
2000-28232 AND LOAN/EDGE 0.00
2000-28233 ANB LOAN/PEDDICORD WHITE 416,736.49
2000-28234 AND LOAN/RANDACK HUGHES 0.00
2000-28235 ANB LOAN 0.00
2000-28236 AND CONSTRUCTION LOAN 0.00
2000-28237 ANB LOAN/ WOODBRIDGE PARKWAY 251,320.68
2000-28238 AND LOAN/BUCHANAN 0.00
2000-28239 ANB LOAN/JONES:HOBART PAYOFF 0.00
2000-28240 HUGHES LOAN 0.00
2000-28242 ANB LOAN/HWY 78:5TH ST REDEV 1,455,166.78
2000-28245 AND LOAN/DALLAS WHIRLPOOL 2,000,000.00
2000-28247 JARRARD LOAN 230,437.84
2000-28250 CITY OF WYLIE LOAN 0.00
2000-28260 PRIME RUTS LOAN 0.00
2000-28270 BOWLAND/ANDERSON LOAN 0,00
2000-28280 CAPITAL ONE CAZAD LOAN 0.00
2000-26290 HOBART/COMMERCE LOAN 0.00
2000-29150 NET PENSION LIABILITY 212,363.17
TOTAL LIABILITIES 4,986,089.48
EQUITY
3000-34590 FUND BALANCE-UNRESERV/UNDESIG( 3,398,505.24)
3000-35900 UNRESTRICTED NET POSITION 114,969.00)
TOTAL BEGINNING EQUITY ( 3,513,474.24)
TOTAL REVENUE ( 1,455,166.78)
1-10-2019 08:44 AM CITY OF WYLIE PAGE: 2
BALANCE SHEET
AS OF: DECEMBER 31ST, 2018
922-GEN LONG TERM DEBT (WEDC)
ACCOUNT# TITLE
TOTAL EXPENSES ( 1.07,409,68)
REVENUE OVER/(UNDER) EXPENSES ( 1,347,757.10)
TOTAL EQUITY I OVER/(UNDER) ( 4,861,231.34)
TOTAL LIABILITIES, EQUITY & OVER/(UNDER) 124,858,14
1-10-2019 08 c 46 AM CITY OF WYLIE PAGE: 1
REVENUE AND EXPENSE REPORT — (UNAUDITED)
AS OF: DECEMBER 31ST, 2018
111—WYLIE ECONOMIC DEVEL CORP
FINANCIAL SUMMARY
CURRENT CURRENT PRIOR YEAR Y—T—D Y—T—D BUDGET 9 OF
BUDGET PERIOD PO ADJUST, ACTUAL ENCUMBRANCE BALANCE BUDGET
REVENUE SUMMARY
TAXES 2,600,000.00 214,867.15 0 00 214,967,15 0,00 2,385,132.85 8.26
INTERGOVERNMENTAL REV. 0.00 0.00 0,00 0.00 0.00 0.00 0.00
INTEREST INCOME 3,600.00 996,60 0.00 3,252,27 0.00 347.73 90.34
MISCELLANEOUS INCOME 1,412,440.00 6,438.36 0.00 21,578.36 0,00 1,390,861.64 1:53
OTHER FINANCING SOURCES 0.00 I:,:955,166.78 0.00 1,455 166..78 0.00 ( 1,455,166.7.8) 0.00
TOTAL REVENUES 4,016,040.00 1,677,468.89 0.00 1,694,864,56 0,00 2,321,175.44 42.20
EXPENDITURE SUMMARY
..a3 , 130,457.74. ..._ , 94,990.72 0.,_.,6
DEVELOPMENT CORP—WEDC 4,736,927 13 0.00 919 550 26 4,227,386.15 10.7
TOTAL EXPENDITURES 4,736,927.13 130,457.74 0,00 414,550.26 94,990.72 4,227,386,15 10.76
REVENUE OVER/(UNDER) EXPENDITURES ( 720,887.13) 1,547,011.15 0.00 1,280,314.30 ( 94,990,72) ( 1,906,210.71) 164.43—
1-10-2019 08:46 AM CITY OF WYLIE PAGE: 2
REVENUE AND EXPENSE REPORT - (UNAUDITED)
AS OF: DECEMBER 31ST, 2018
Ill-WYLIE ECONOMIC DEVEL CORP
REVENUES
CURRENT CURRENT PRIOR YEAR Y-T-D Y-T-D BUDGET - OF
BUDGET PERIOD PO ADJUST, ACTUAL ENCUMBRANCE BALANCE BUDGET
TAXES
4000-40150 REV IN LEIU OF TAXES 0.00 0.00 0,00 0.00 0,00 0.00 0,00
4000-40210 SALES TAX 2,600,000.00 214 f67.15 0.00 2.19,867,15 0,00 2,385,.132.85 9.26
TOTAL TAXES 2,600,000.00 214,867.15 0.00 214,867.15 0.00 2,385,132.85 8,26
INTERGOVERNMENTAL REV,.
4000-43518 380 ECONOMIC AGREEMENTS 0.00 0.00 0.00 0.00 0.00 0,00 0,00
TOTAL INTERGOVERNMENTAL REV. 0.00 0.00 0.00 0.00 0,00 0.00 0.00
INTEREST INCOME
4000-46050 CERTIFICATE OF DEPOSIT 0.00 0.00 0.00 0.00 0,00 0,00 0.00
4000-46110 ALLOCATED INTEREST EARNINGS 3,600.00 996.60 0.00 3,252.27 0,00 347,73 90,34
4000-46140 TEXPOOL INTEREST 0:.00 0,00 0.00 0.00 0.00 0.00 0,00
4000-46143 LOGIC INTEREST 0.00 0.00 0.00 0,00 0,00 0,00 0.00
4000-46150 INTEREST EARNINGS 0.00 0,00 0,00 0,00 0,00 0,.00 0,00
4000-46160 LOAN REPAYMENT (PRINCIPAL) 0..00 0.00 0.00 0,00 0„00 0.00 0,00
4000-46210 BANK MONEY MARKET INTEREST 0.00 0,00 0.00 0.00 0.00 0_.00 0,00
TOTAL INTEREST INCOME 3,600.00 996.60 0.00 3,252.27 0,00 347.73 90.34
MISCELLANEOUS INCOME
4000-48110 RENTAL INCOME 112,440.00 6,438.36 0.00 21,578.36 0.00 90,861,64 19.19
4000-48310 RECOVERY - PRIOR YEAR EXPEN 0.00 0.00 0,00 0,00 0.00 0„00 0..00
4000-48410 MISCELLANEOUS INCOME 0.00 0.00 0.00 0.00 0.00 0.00 D.00
4000-48430 GAIN/(LOSS) SALE OF CAP ASS 1,300,000.00 0.00 0,00 0,00 0.00 1,,300,000,00 0,00
TOTAL MISCELLANEOUS INCOME 1,412,440.00 6,438.36 0.00 21,578.36 0.00 1,390,861.64 1,53
OTHER FINANCING SOURCES
4000 49160TRANSFER FROM GENERAL FUND 0,00 0.00 0.00 0.00 0.00 0.00 0.00
4000-49325 BANK NOTE PROCEEDS 0.00 1,455,166.78 0.00 1,455,166.78 0.00 ( 1,455,166,78) 0.00
4000-49550 LEASE PRINCIPAL PAYMENTS (0 0.00 0.00 0.00 0.00 0,00 0.00 0,00
4000-49600 INSURANCE RECOVERIES 0.00 0,00 0,00 0,00 0..00 0.00 0.00
TOTAL OTHER FINANCING SOURCES 0.00 1,455,166.78 0,00 1,455,166.78 0,00 ( 1,455,166.78) 0.00
TOTAL REVENUES 4,016,040.00 1,677,468.89 0.00 1,694,864,56 0,00 2,321,175.44 42,20
1-10-2019 08:46 AM CITY OF WYLIE PAGE 3
REVENUE AND EXPENSE REPORT - (UNAUDITED)
AS OF: DECEMBER 31ST, 2018
111-WYLIE ECONOMIC REVEL CORP
DEVELOPMENT CORP-WEDC
DEPARTMENTAL EXPENDITURES
CURRENT CURRENT PRIOR YEAR Y-T-D Y-T-D BUDGET =, OF
BUDGET PERIOD PO ADJUST. ACTUAL ENCUMBRANCE BALANCE BUDGET
PERSONNEL SERVICES
5611.-51110SALARIES 290,180.00 22,737.04 0„03 62,413.91 0.00 227,766.09 21.51
5611-51130 OVERTIME 0.00 0.00 0.,00 0.00 0.00 0.00 0.00
5611-51140 LONGEVITY PAY 1,452.63 0.00 0.724 1,444.00 0.00 8.63 99.41
5611-51145 SICK LEAVE BUYBACK 0.00 0.00 0:,00 0.00 0.00 0.00 0.00
5611-51160 CERTIFICATION INCENTIVE 0.00 0.00 0.00 0.00 0.00 0.00 0.00
5611-51170 PARAMEDIC INCENTIVE 0.00 0.00 0.00 0.00 0.00 0.00 0.00
5611-51210 CAR ALLOWANCE 12,600.00 969.26 0.00 2,665.46 0.00 9,93/.54 21.15
5611-51220 PHONE ALLOWANCE 4,656.00 0.00 0,00 1,164.00 0.00 3,492.00 25.00
5611-51230 CLOTHING ALLOWANCE 0.00 0.00 0.00 0.00 0.00 0.00 0.00
5611-51260 MOVING ALLOWANCE 0.00 0.00 0.00 0.00 0.00 0.00 0.00
5611-51310 TMRS 45,879.00 3,633.12 0,.00 10,089.92 0.00 35,789.08 21.99
5611-51410 HOSPITAL & LIFE INSURANCE 41,277.00 3,324.23 0,00 9,972.68 0.00 31,304.32 24.16
561.1-5141.5 EXECUTIVE HEALTH PLAN 0.00 0.00 0.00 0.00 0.00 0.00 0.00
5611-51420 LONG-TERM DISABILITY 1,655.00 83.94 0,00 335.76 0.00 1,319.24 20.29
5611-51440 FICA 18,863.00 634.16 0,.00 1,741.47 0.00 17,121.53 9.23
5611-51450 MEDICARE 4,412.00 333.13 0.00 925.63 0.00 3,486.37 20,98
5611-51470 WORKERS COMP PREMIUM 396.00 0,00 0.00 283.20 0.00 112.80 71.52
5611 51980 UNEMPLOYMENT COMP (TWC) 810.00 0.00 O.OJ 0.00 0.00 810.00 0,00
TOTAL PERSONNEL SERVICES 422,180.63 31,714.88 0.00 91,036.03 0.00 331,144.60 21.56
SUPPLIES
5611-52010 OFFICE SUPPLIES 6,000.00 53.10 0.00 109.35 0.00 5,890.65 1.82
561.1-52040 POSTAGE & FREIGHT 890.00 0.00 0.00 6.70 0.00 883.30 0.75
5611-52130 TOOLS/ EQUIP (NON-CAPITAL) 0.00 0.00 0.00 0.00 0.00 0,00 0.00
5611.-52810 FOOD SUPPLIES 2,150.00 103.73 0.00 270.06 0.00 1,879.94 12.56
5611-52990 OTHER 0.00 0.00 0.00 0.00 0,00 0.00 0.00
TOTAL SUPPLIES 9,040.00 156.83 0.00 386.11 0.00 8,653.89 4,27
MATERIALS FOR MAINTENANC
5611 54630 TOOLS & EQUIPMENT 0.00 0.00 0.00 0.00 0.00 0.00 0.00
5611.-5481.0 COMPUTER HARD/SOFTWARE 2,000.00 1,975.00 0.00 1,975.00 0.00 25.00 98.75
5617-54990 OTHER 5,000.00 0.00 0.00 0.00 0.00 5,000.00 0.00
TOTAL MATERIALS FOR MAINTENANC 7,000.00 1,975.00 0.00 1,975.00 0.00 5,025.00 28.21
CONTRACTUAL SERVICES
5611-56030 INCENTIVES 1,245,886.50 2,500.00 0,00 27,500.00 0.00 1,218,386..50 2.21
5611-56040 SPECIAL SERVICES 263,900.00 42,059.03 0.00 59,205.53 0.00 204,694 47 22.43
5611-56080 ADVERTISING 127,000.00 225.00 0.07 10,570.00 0.00 116,430...00 9.32
5611-56090 COMMUNITY DEVELOPMENT 68,600.00 13,189.05 0.67(1 16,586.70 0.00 52,013,30 24.18
5611-56110 COMMUNICATIONS 9,628.00 572.73 0.00 1,490.00 223.75 7,914.25 17.80
5611-56180 RENTAL 29,328.00 2,444.00 0.00 9,388.00 0.00 19,940.00 32.01
5611-56210 TRAVEL & TRAINING 55,425,00 1,358.39 0.00 2,172.84 0.00 53,252.,16 3.92
5611-56250 DUES & SUBSCRIPTIONS 30,610.00 710.67 0,011 9,540.34 0.00 21,069..66 31.17
5611-56310 INSURANCE 3,110.00 0.00 0,00 4,040.19 0.00 ( 930.19) 129.91
5611-56510 AUDIT & LEGAL SERVICES 39,000.00 9,685.00 0.07) 9,685.00 0.00 29,315.00 24.83
5611-56570 ENGINEERING/ARCHITECTURAL 30,000.00 5,349.99 0,00 5,349.99 0.00 24,650,01 17.83
5611-56610 UTILITIES-ELECTRIC 2,400.00 759.02 0.00 892.11 0.00 1,507..89 37.17
TOTAL CONTRACTUAL SERVICES 1,904,887.50 78,852.88 0.00 156,420.30 223.75 1,748,24 _0 8.,.22
243.05 8.22
1-10-2019 08 46 AM CITY OF WYLIE PAGE: 4
REVENUE AND EXPENSE REPORT - (UNAUDITED)
AS OF: DECEMBER 31ST, 2018
111-WYLIE ECONOMIC DEVEL CORP
DEVELOPMENT CORP-WEDC
DEPARTMENTAL EXPENDITURES
CURRENT CURRENT PRIOR YEAR Y-T-D Y-T-D BUDGET OF
BUDGET PERIOD PO ADJUST. ACTUAL ENCUMBRANCE BALANCE BUDGET
DEBT SERVICE & CAP. REPI,
5611-57110 DEBT SERVICE 0.00 0.00 0.00 0.00 0,00 0.00 0.00
5611-57410 PRINCIPAL PAYMENT 1,628,051.00 27,458.95 0.00 107,109.68 0,00 1,520,641.32 6.60
5611-57415 INTEREST EXPENSE 123,768.00 10,299.20 0.00 32,322.74 0-;00 91,445.26 26.12
5611-57710 BAD DEBT EXPENSE 0.00 0.00 0.00 0.00 0.00 0.00 0.00
TOTAL DEBT SERVICE & CAP. REPL 1,751,819.00 37,758.15 0.00 139,732.42 0.00 1,612,086.58 7.98
CAPITAL OUTLAY
5611-58110 LAND-PURCHASE PRICE 300,000.00 1,743,346.59 0,00 1,788,346.59 94,766.97 ( 1,583,113.56) 627.70
5611-58120 DEVELOPMENT FEES 0.00 0.00 0.00 0.00 0.00 0.00 0.00
5611-58150 LAND-BETTERMENTS 0.00 0,00 0,00 0.00 0.00 0.00 0.00
5611-58210 STREETS & ALLEYS 340,000.00 0.00 0.00 0,00 0.00 340,000.00 0.00
5611-58410 SANITARY SEWER 0.00 0.00 000 0,00 0.00 0.00 0.00
5611-58810 COMPUTER HARD/SOFTWARE 1,000.00 0.00 0.00 0.00 0.00 1,000.00 0.00
5611-58830 FURNITURE & FIXTURES 1,000.00 0.00 0,00 0.00 0.00 1,000.00 0.00
5611-58910 BUILDINGS 0.00 0.00 0.00 0,00 0,00 0.00 0.00
5611-58995 CONTRA CAPITAL OUTLAY 0.00 (1,763,346.59) 0.00 ( 1,763,346.59) 0.00 1,763,346.59 0.00
TOTAL CAPITAL OUTLAY 642,000.00 ( 20,000.00) 0.00 25,000.00 94,766.97 522,233.03 18.66
OTHER FINANCING (USES)
5611 59111 TRANSFER TO GENERAL FUND 0.00 0.00 0.00 0.00 0-. 00 0.00 0.00
5611-591.90 TRANSFER TO THORUGHFARE IMP 0.00 0.00 0,00 0.0(1 0..00 0.00 0.00
5611-59430 TRANSFER TO CAPITAL PROJ FU 0.00 0.010 0,00 0.00 0.,00 0.00 0.00
5611-59990 PROJECT ACCOUNTING 0.00 0.00 0.00 0,00 0,.00 0,00 0,00
TOTAL OTHER FINANCING (USES). 0.00 .�.�. .�.0.00 0.00 ........- 0.0 �,��..... ...��. ,�....0 0.00 0.00 0.00
TOTAL DEVELOPMENT CORP-WEDC 4,736,927.13 130,457.74 0,00 414,550.26 94,990.72 4,227,386.15 10.76
TOTAL EXPENDITURES 4,736,927.13 130,457.74 0.00 414,550.26 94,990.72 4,227,386.15 10.76
REVENUE OVER (UNDER) EXPENDITURES ( 720,887.13) 1,547,011.15 0.00 1,280,314.30 ( 94,990.72) ( 1,906,210.71) 164.43-
**' END OF REPORT *"*
1.-10-2019 8:49 AM DETAIL LISTING PAGE: 1
FUND : 111-WYLIE ECONOMIC DEVEL CORP PERIOD TO USE: Dec-2018 TFHRU Dec-2018
DEPT : 611 DEVELOPMENT CORP-WEDC ACCOUNTS: 5611-52010 THRU 5611-58910
POST DATE, TRAYS # REFERENCE PACKET_.-====DESCRIPTION VEND INV/OE # NOTE --AMOUNT-- _--BALANCE====
5611-52010 OFFICE SUPPLIES..
BEGINNING BALANCE 56.25
12/21/18 12/21 A32525 CHSK: 100881 06413 OFFICE SUPPLIES 000392 27067 WEDC 53.10 109.35
DECEMBER ACTIVITY DB: 53.10 CR: 0.00 53.10
5611-52040 POSTAGE & FREIGHT
BEGINNING BALANCE 6.70
5611-52130 TOOLS/ EQUIP (NON-CAPITAL
BEGINNING BALANCE 0.00
561.1-52160 TOOLS/ EQUIP - 8100-8999.99
BEGINNING BALANCE 0.00
5611-52810 FOOD SUPPLIES
BEGINNING BALANCE 166.33
12/19/18 12/19 A32229 DFT: 000729 06321 EMPLOYEE LUNCH SUPP 000912 8277 DEC18 WYGANT 41.11 207.44
12/19/18 12/19 A32229 DFT: 000729 06321 WEDC BRD MTG MEAL 00091.2 8277 DEC18 WYGANT 46.30 253.74
12/19/18 12/19 A32229 DFT: 000729 06321 WEDD BRD MTG MEAL 000912 8277 DEC18 WYGANT 16.32 270.06
_=_—. mod:-_",8.8 DECEMBER ACTIVITY DB: 103.73 CR: 0.00 103.73
5611-52990. ..OTHER
BEGINNING BALANCE 0.00
5611-54630 TOOLS & EQUIPMENT
BEGINNING BALANCE 0.00
5611-5481.0 COMPUTER HARD/SOFTWARE.
BEGINNING BALANCE 0.00
12/20/18 12,/20 A32393 CIIK: 100842 06371 ANNUAL IT SVC CONTRACT 004806 18841 1,975.00 1,975.00
---- -;,--:.- .r, DECEMBER ACTIVITY DB: 1,975.00 CR: 0.00 1,975.00
1-10-2019 8:49 AM DETAIL LISTING PAGE: 2
FUND : 111-WYLIE ECONOMIC DEVEL CORP PERIOD TO USE: Dec-2018 THRU Dec-2018
DEPT : 611 DEVELOPMENT CORP-WEDC ACCOUNTS: 5611-52010 THRU 5611-58910
POST DATE TRAM # REFERENCE PACKET------DESCRIPTION VEND INV/JE W NOTE AMOUNT-- ---BALANCE-----
5611-54990 OTHER
BEGINNING BALANCE 0.00
-------_-___------------------------_________________----------------_-________________------------________
5611-56030 INCENTIVES
BEGINNING BALANCE 25,000,00
12/26/18 12/26 2532642 CHK: 1UU8l( 06432 CAR ELLE- INC 1 OF 2 00521S INCENTIVE I 2,500.00 27,500.00
DECEMBER ACTIVITY DB: 2,500,00 CR: 0.00 2,500.00
--------------------_-_—_-______------------------------------------------------------------------------------------------------
5611-56040 SPECIAL SERVICES
BEGINNING BALANCE 17,146,50
12/14/18 12/14 A31976 CUE 100158 06201 ENVIR-3MEBS 004991 1126 29,250.00 16,396.50
12/14/18 12/14 A31977 CHIC: 100758 06201 ENVIR,-KARAN 004991 1131 4,000.00 50,396.50
12/19/18 12/19 A32229 OCT: 000729 06321 WATER LINE SUPPLIES 000912 8277 DEC18 WYGANT 6,299,95 56,696.45
12/19/18 12/19 A32229 OFT: 000729 06321 WATER LINE SUPPLIES 000912 8277 DEC18 WYGANT 724,50 57,420.95
12/20/18 12/20 A32386 (MK: 100841 06371 ALLEY DESIGN-BRWN-JACKSO 000196 1719D WEDC 975.00 58,395.95
12/20/18 12/20 A32387 CHK: 100841 06371 ALLEY DESIGN-BRWN-JACKSO 000196 1827D WEDC 557,08 58,953.03
12/20/18 12/20 A32390 CHK: 100837 06371 QTLY PEST CONTROL 000792 105256 WEDC 95.00 59,048.03
12/26/18 12/26 A32616 CHK: 100914 06432 JANITORIAL SVC 002330 46830 157,50 59,205.53
DECEMBER ACTIVITY DB 42,059.03 CR: (Lon 42,059.03
5611-56080 ADVERTISING
BEGINNING BALANCE 10,345.00
12/20/18 12/20 A32331 CBE: 100830 06365 VETERANS DAY AD 000391 18056 WEDC 75.00 10,420.00
12/21/18 12/21 A32528 CHK: 100880 06413 Q4 DOWNTOWN ADVERTISNG 001078 413 WEDC 150,00 10,570.00
DECEMBER ACTIVITY DB: 225.00 CR: 0,00 225,00
-____-_______________-------------------------------------------------------------------------------------------------------
5611-56090 COMMUNITY DEVELOPMENT
BEGINNING BALANCE 3,397,65
12/19/18 12/19 A32203 DFT: 000729 06319 ROTARY LUNCHEON 000912 8277 DEC18 SATTER 67.60 3,465.25
12/19/18 12/19 A32203 DFT: 000729 06319 REG. BROKER EVENT 000912 8217 DEC18 SATTER 8,435.78 11,901.03
12/19/18 12/19 A32203 DFT: 000729 06319 CARE CTR-SPONSOR 000912 8277 DEC18 SATTER 439,27 12,340.30
12/19/18 12/19 A32229 OFT: 000729 06321 MFG DY MEAL SUPPLIES 000912 8277 DEC18 WYGANT 12.16 12,352.46
12/19/18 12/19 A32229 DFT: 000729 06321 MFG. DAY LUNCH 000912 8277 DEC18 WYGANT 484.21 12,836.70
12/20/18 12/20 A32329 CHK: 100833 06365 SPONSOR-BOOTNBBQ 000379 1248 WEDC 1,500,00 14,336,70
12/20/18 12/20 A32330 CHK: 100833 06365 SPONSOR ETC 000379 1259 WEDC 2,250,00 16,586.70
DECEMBER ACTIVITY 1)13 13,189.05 CR 0.00 13,189.05
1-10-2019 8:49 AM DETAIL LISTING PAGE: 3
FUND : 111-WYLIE ECONOMIC DEVEL CORP PERIOD TO USE: Dec-2018 THRU Dec-2018
DEPT : 611 DEVELOPMENT CORD-WEDC ACCOUNTS: 5611-52010 THRU 5611-58910
POST DATE TRAM N REFERENCE PACKET------DESCRIPTION-- VEND INV/JE I NOTE ===AMOUNT==== ====BALANCE====
5611-56110 COMMUNICATIONS
BEGINNING BALANCE 917.27
12/19/18 12/1.9 A32203 OFT: 000729 06319 TELEPHONE SVC 000912 3277 DEC18 SATTER 177.90 1,095.17
1.2/20/18 12/20 A32334 CHK: 100632 06365 TABLET SVC 001797 82249579907 NOV18 113.97 1,209,14
12/20/18 12/20 A32344 CHIC: 100322 06365 INTERNET SVC-250 004568 2101577989 NV25- 223.75 1„432.89
12/20/18 1.2/20 A32345 CR11: 100822 06365 INTERNET SVC-201 004568 9724422380 NV21-DC 57.11 1,490.00
��= _` ^ DECEMBER ACTIVITY DB: 572.73 CR: 0.00 572.73
5611-561.80 RENTAL
BEGINNING BALANCE 6,944.00
12/20/18 12/20 A32392 CHK: 100836 06371 COPIER RENTAL NOV28-DEC2 003509 107102 WEDC 194.00 7,138.00
12/26/18 12/26 A32625 CHK: 100925 06432 RENT-JAN 19 003231 121818 JAN19 2,250.00 9,388.00
,.=-- , - --.-_- DECEMBER ACTIVITY DB: 2,444.00 CR: 0.00 2,444.00
5611-56210 TRAVEL 1 TRAINING
BEGINNING BALANCE B14.45
12/19/18 12/19 A32165 DFT: 000729 06308 TEDC CONE REG-CREINE 000912 8217 DEC18 GREINER 300.00 1,114.45
12/19/18 12/19 A32165 OFT 000729 06308 BUS MTG - PROSPECT 000912 8277 DEC18 GREINER 47.84 1,162.29
12/1.9/1.8 12/19 A32203 DFT: 000729 06319 BUS MTG. BLUE PLATE 000912 8277 DEC18 SATTER 31.75 1,194.04
12/19/18 12/19 A32203 OFT: 000729 06319 TML CONE' -.SATT-HOTEL 000912 8277 DEC18 SATTER 166.08 1,360,12
12/19/18 12/19 A32203 OFT: 000729 06319 BUS MTG - BLUE PLATE 000912 8277 DEC18 SATTER 17.64 1,377.76
12/19/18 12/1.9 A32203 BET: 000729 0631.9 TML CONE - SATT ROTE 000912 8277 DEC18 SATTER 2.37,37 1.,615.13
12/19/18 12/19 A32203 DET: 000729 06319 TML BUS MTG-RET C11 00091.2 3277 DEC18 SATTER 336.27 1,951,40
12/19/18 12/19 A32203 DFT: 000729 06319 TML CONE-SATT-MEAL 000912 9277 .DEC18 SATTER 12.81 1,964.21
12/19/18 12/19 A32203 OFT: 000729 06319 BUS MTG.- KCS 000912 8277 DEC18 SATTER 58.25 2,022.46
12/19/18 12/19 A32203 DFT: 000729 06319 BUS MTG-TURNER 000912 8277 0EC18 SATTER 50.00 2,072.46
12/21/18 12/21 C63768 RCPT 01.025922 27155 TEDC REFUND S SATTERWHITE 175.000R 1,397.46
12/21/18 1.2/21. C63768 RCPT 01025823 27155 TEDC REFUND FOR J GREINER 300.000R 1,597.46
12/27/18 12/27 A32808 CHIC: 100956 06463 122718 HOTEL 000317 122718 HOT/PK/TX 383.30 1,930.76
12/27/18 12/27 A32808 CHIC: 100956 06463 122718 MEALS 000317 1.22718 HOT/PK/TX 23.58 2,004.31
12/27/18 12/27 1532808 CHK: 100956 06463 122718 TAXI 000317 122718 HOT/PK/TX 149.69 2,154.03
12/27/18 12/27 A32808 CHKe 100956 06463 122718 PARKING 000317 122718 HOT/PK/TX 18.81 2,172.84
.====-.--= ====== DECEMBER ACTIVITY DB: 1.,833.39 CR: 475.000'R 1,358.39
5611-56220 PROFESSIONAL TRAINING
BEGINNING BALANCE 0.00
1-10-201.9 8:49 AM DETAIL LISTING PACE: 4
FUND 111-WYLIE ECONOMIC BEVEL CORP PERIOD '20 USE: Dec-2018 'I'HRU Dec-2018
DEPT 611 DEVELOPMENT CORP-WEDC ACCOUNTS: 5611-52010 THRU 5611-58910
POST DATE TRAN ft REFERENCE PACKCT -------DE:>CRIPTION--- --- VEND INV/1LE 13 NOTE =-= AMOUNT--- ==-=BALANCE
5611-56250 DUES 6 SUBSCRIPTIONS
BEGINNING BALANCE 8,829.67
12/26/18 12/21, A32573 CNN: 100892 06425 121818 DUES 000317 12181E DUES 710.67 9,540.34
DECEMBER ACTIVITY 013: 710.67 CR: 0.00 710.67
5611-56310 INSURANCE
BEGINNING BALANCE 4,040.19
5611-56510 AUDIT & LEGAL SERVICES
BEGINNING BALANCE 0.00
12/20/18 12/20 A32323 CUR: 100819 06365 ATTY FEE-WEATHER 000023 2 2793-0086M 480.00 480.00
12/20/18 12/20 A32384 CHIC: 100835 06371 ATTY FEE-WEATHER 000023 1 2793-0086M WEDC 120.00 600,00
12/20/18 12/20 A32385 CHK; 100835 06371 ATTY FEE-STREET LEVE 000023 2 2793-0085M WEDC 260.00 860.00
12/20/18 12/20 A32394 CHIC: 100840 06371 ENVIR REVIEW -KIRBY COW 004947 33075 WEDC 3,825.00 4,685.00
12/27/18 12/27 A32807 CHIC: 100955 06462 LEGAL SVC - LOAN 005231 122718 WEDC 5,000,00 9,685.00
- - - DECEMBER ACTIVITY DB: 9,685,00 CR: 0.00 9,685.00
5611E-56570 ENGINEERING/ARCHITECTURAL
BEGINNING -BALANCE 0.00
12/20/18 12/20 A32388 CHIC: 100838 06371 544 WATERINE ENGINEERING 000325 14609 2018161 WEDC 4,109,99 4,109.99
12/20/18 12/20 A32389 CHK: 100838 06371 544 WATERLINE ENGINEERI 000325 14667 2018161 WEDC 1,240.00 5,349.99
_- -_- DECEMBER ACTIVITY DB: 5,349.99 CR: 0.00 5,349.99
5611-56610 UTiILITIES-ELECTRIC
BEGINNING BALANCE 133.09
12/19/18 12/19 A32245 CNN: :100795 06338 WATER -201 IND CT 000101 122106004 INDUST 63.44 196.53
12/19/1.8 12/19 A32246 CHK: 100796 06338 WATER -COMMERCE 000101 126054100 COMMERC 59.50 256.03
12/20/18 12/20 A32333 CHK: 100831 06365 ELEC-201 IND CT 001325 056301753871 WEDC 252.33 508.36
12/26/18 12/26 A32627 CHK 1.00901, 06432 UTLITIES-ELECTRIC 003302 1171655189 DEC18 157.95 666.31
12/26/18 12/26 A32628 CHK: 100906 06432 UTLITIES-ELECTRIC 003302 1171655189 NOV18 117.50 783.81.
1.2/26/1.8 1.2/26 A32629 CHK: 100906 06432 UTLITIES-WATER 003302 122-1040-01 NOV18 43.97 827,78
12/26/18 12/26 A32630 CHIC: 100906 06432 UTLITIES-WATER 003302 122-1040-01 OCT1R 22.76 850.54
12/26/1.8 12/26 A32631. CIIK: 100906 06432 UTLITIES-GAS 003302 3029287066 DEC18 27.04 877.58
12/26/18 12/26 A32632 CHK: 100906 06432 UTLITIES-GAS 003302 3029287066 NOV18 14.53 892.11
- DECEMBER ACTIVITY DB: 759.02 CR: 0.00 759.02
1-10-2019 8:49 AM DETAIL LISTING PAGE: 5
FUND : 111-WYLIE ECONOMIC DEVEL CORP PERIOD TO USE: Dec-2018 TURN Dec-2018
DEPT : 611 DEVELOPMENT CORP-WEDC ACCOUNTS: 5611-52010 THRU 5611-58910
POST DATE TRAN # REFERENCE PACKET----===DESCRIPTION VEND INV/JE # NOTE --AMOUNT-- --BALANCE- ----
561.1-.57110 DEBT SERVICE
BEGINNING BALANCE 0.00
5G11-557410 PRINCIPAL PAYMENT
BEGINNING BALANCE 79,950.73
12/10/19 12/12 B63619 Bnk DEL 121018 18132 JE30110 PEDDCORD/W1-IT PMT48 JE# 030110 5,720.47 85,671.20
12/14/18 1.2/18 863701 Bnk IDEE 121418 18169 JE30155 WA PKWY PMT 452 JE# 030155 12,449,09 98,119.29
12/21/18 12/27 R63786 rink DEL 122.11E 1.8177 JE30165 JARRARD PROP #24 JE# 030165 2,162.53 100,2E31.82
12/21/18 12/27 B63788 Bnk Dft 122118 18177 JE30167 BUCHANAN #52 JE# 030167 7,127,86 107,409,68
- DECEMBER eAC'TIVITY DR: 27,458.95 CR: 0,00 27,458.95
5611-57415 INTEREST EXPENSE
BEGINNING BALANCE 22,023.54
12/10/18 12/12 B63649 Bnk Dft 12101.8 1.81.32 JF.30110 PEDDCORD/WHT PMT48 JE# 030110 1,661.98 23,685.52
12/14/18 12/18 B63707 Bnk Dft 121415 1.8169 JE30155 WB PKWY PMT #52 JE# 030155 819,84 24,505.36
12/21/18 .12/27 B63786 Bnk Dft 122118 18177 JE30165 JARRARD PROP #24 JE# 030165 946.62 25,451,98
12/21/18 12/27 B6.378T Bnk Dft 122118 18177 JE30166 DALLAS WHIRLPOOL #25 JE# 030166 6,666,67 32,118.65
12/21/18 12/27 863788 Bnk Dft. 12211.8 7.8107 JE30167 BUCHANAN #52 JE# 030167 204,09 32,322.74
. DECEMBER ACTIVITY DB: 10,299.20 CR: 0,00 10,299.20
5611-57710 BAD DEBT EXPENSE
BEGINNING BALANCE 0.00
5611-58110 LAND-PURCHASE PRICE
BEGINNING BALANCE 4.5,000.00
12/03/18 1.2/03 A31060 DFT: 000117 05814 EARNEST MONEY 005173 3MEBS 120318 2,500.00 47,500.00
12/05/18 12/12 A31716 OFT: 000726 06118 PURCHASE TURNER PROPERTY 003164 120418 WEDC 308,179.81 355,679,81
12/17/18 12/17 A32018 OFT: 000728 06225 PURCHASE 502 E BR ST 003164 121718 WEDC 204,775.58 5611,455.39
12/18/18 112/16 A32108 CHK: 100793 06277 EARNEST-BLK 4, LOT 6, 7A 003164 121818 WEDC 2,500.00 562,955.39
12/28/18 12/28 A32848 OFT: 000737 06471 PROPERTY PURCHASE 003164 1901351800567 1,225,391.20 1,788,346.59
,,,,.,., _m, DECEMBER ACTIVITY DB: 1.,743,346.59 CR: 0.00 1,743,346.59
5611-58120 DEVELOPMENT FEES
BEGINNING BALANCE 0.00
Wylie Economic Development Corporation
Balance Sheet Sub Ledger
December 31, 2018
Notes Payable
Date of Rate of Principal
Purchase Payment Beginning Bal. Principal Interest Interest Balance
December 1, 2018 3,255,503.43
ANBTX-88130976 WOODBRIDGE PKWY (#52 of 80) 8/15/14 13,267.93 377,387.87 12,448.09 819.84 2.61 364,939.78
ANBTX-88148481 BUCHANAN(#52 of 60) 8/13/14 7,331.95 64,963.00 7,127.86 204.09 3.77 57,835.14
ANBTX-88149711 PEDDICORD/WHITE(#48 OF 60) 12/12/14 7,382.45 474,850.22 5,720.47 1,661.98 4.20 469,129.75
ANBTX-88158043 K&M/HOBART(#39 of 48) 9/2/15 8,745.25 85,870.60 8,459.01 286.24 4.00 77,411.59
ANBTX-88158357 DALLAS WHIRLPOOL(#25 of 60) 11/22/16 varies 2,000,000.00 0.00 6,666.67 4.00 2,000,000.00
JARRARD GRAYS AUTO(#24 OF 120) 12/1/16 3,109.15 252,431.74 2,162.53 946.62 4.50 250,269.21
ANBTX-88193982 ANB-BROWN&78(#0 OF 60) 12/12/18 1,455,166.70 0.00 0.00 5.25 1,455,166.70
December 31, 2018 $35,917.96 $10,585.44 4,674,752.17
Wylie Economic Development Corporation
Inventory Subledger
December 31, 2018
Inventory - Land
Date of Pur. Address Acreage Improvements Cost Basis Sub-totals
Cooper McMasters 7/12/05 709 Cooper 0.48 n/a $202,045
Heath 12/28/05 706 Cooper 0.46 $32,005 3,625 186,934
Perry 9/13/06 707 Cooper 0.49 Demo 200,224
Bowland/Anderson 10/9/07 Cooper Dr. 0.37 n/a 106,419
KCS 8/1/08 Cooper Dr. 0.41 n/a 60,208
Duel Products 9/7/12 704 Cooper Dr. 0.50 n/a 127,452
Randack 10/23/12 711-713 Cooper Dr. 1.09 217,500 8,880 400,334
Lot 2R3 __ _ 7/24/14 Cooper Dr. 0.95 n/a 29,056 $1,312,672
Industrial Ct. Ind Ct-Hwy 78 7/06 -4/16 Ind Ct-Hwy 78 1.45 n/a 924,486
Jarrard 12/22/16 201 Industrial Ct 0.29 32,893 3,900 300,493 1,224,979
Regency Regency Pk. 6/4/10 25 Steel Road 0.65 n/a 25,171 25,171
Commerce Hobart Investments 11/12/13 Commerce 1.60 n/a 156,820
Hobart 1/6/14 605 Commerce 1.07 396,263 20,000 386,380
Dallas Whirlpools 11/22/16 900-908 Kirby 4.79 10,000 2,182,080 2,725,280
Downtown Heath 3/17/14 104 N. Jackson 0.17 Demo 220,034
Udoh 2/12/14 109 Marble 0.17 n/a 70,330
Peddicord 12/12/14 100 W. Oak St 0.35 155,984 4,444 486,032
City Lot 12/12/14 108/110 Jackson 0.35 n/a
Jones (K&M) 9/3/15 106 N. Birmingham 0.21 42,314 4,125 190,596
FBC Lot 6/15/16 111 N. Ballard St 0.20 n/a 150,964
McMillan 8/24/17 105 N. Jackson 0.26 n/a 89,482 1,207,438
Alanis White Property (Alanis) 12/12/14 Alanis 6.63 n/a 420,336 420,336
South Ballard Birmingham Trust 6/3/15 505 -607 S. Ballard 1.12 n/a 409,390 409,390
Squire Gallagher 3/14/18 Squire-lot 2-4 2.67 6,000 573,844 573,844
Brown -4,-7 Si' Turner 12/5/18 504 E. Brown 1.02 84,077 1,180 308,180
Wallace 12/18/18 502 E. Brown 0.19 24,637 680 204,775
Karan 12/28/18 300 E. Brown 2.40 551,998 24,000 1,250,391 1,763,346
Total 30.32 $1,537,671 86,834 $9,662,456 $9,662,456
*A Journal entry was made by auditors to adjust the cost of the Hughes land by$4,638.79. This amount was for taxes owed and not part of land value.
*Prime Kuts total purchase price was$306,664.45. The distribution between 207 Industrial and R.O.W. purchased was developed by Seller for tax purposes.
(**) Costs Basis adjusted for partial sale of property(.28 acres or 22.76% of the property at a cost basis of$170,755.53).
WEDC Leasehold Subledger
Tenant Apr-18 May-18 Jun-18 Jul-18 Aug-18 Sep-18 Oct-181 Nov-18 Dec-18 Jan-19
Helical Concepts 1st 3/26/18 4/24/18', 5/21/18 L 6/25/18 7/26/18 8/24/18. 9/26/18 10/29/18 11/26/18 12/31/18
Wheels Unlimited 15th 4/16/18 5/15/18 6/15/18 7/16/18 8/16/18 9/14/18 10/17/18 11/5/18 12/15/18
Trimark Catastrophe 15th 5/2/18 5/2/18 7/11/18 7/11/18 8/2/18 9/17/18 10/8/18 11/8/18 12/11/18 1/2/19
Dennis Richmond 1st 4/3/18 5/4/18 6/1/18 7/16/18 8/6/18 9/10/18 10/16/18 11/5/18 12/6/18 12/31/18
Austin/Said LLC 1st 4/11/18 5/10/18 6/15/18 7/3/18 8/31/18', 9/14/18 10/18/18 11/14/18 12/6/18 1/9/19
Austin/Said LLC 1st 4/11/18 5/10/18 6/15/18 7/3/18 8/31/18 9/14/18 10/18/18 11/14/18 12/6/18 1/9/19
Wylie Northeast 1st 4/30/18 6/5/18 7/3/18 8/2/18 9/5/18 10/3/18 11/5/18 12/4/18 1/2/19
(*)Austin/Said LLC-March 2017 payment for 605 Commerce waived due to
environmental remediation,removal of slab section,and roll-off dumpsters
WEDC EXECUTIVE DIRECTOR
J P MorganChase
Expense Report
November 2018
DATE PAYEE AMOUNT PURPOSE INDIVIDUAL/GROUPS PRESENT
11/06/18 Frankies 31.75 Business Mtg Satterwhite, Blue Plate
11/09/18 Napoli 67.60' Rotary Project Sponsor Satterwhite, Rotary(9)
11/09/18 Hyatt Regency 166.08 TML Conference- Hotel Deposit Satterwhite
11/09/18 Starbucks 17.64 Business Mtg Satterwhite, Blue Plate
11/14/18 Club Corp 8,435.78 Regional Broker Event Regional Brokers
11/16/18 Hyatt Regency 237.37, TML Conference-Hotel Satterwhite
11/15/16 Hyatt Regency 336.27' Business Mtg/Event Satterwhite, Retail Coach (2)
11/16/18 Cupps Drive-in 12.81 TML Conference-Meal Satterwhite
11/29/18 Ballard Street Cafe 58.25' Business Mtg Satterwhite(2), KCS(2)
11/28/18 Woodbridge Golf Club 439.27 Christian Care Center Sponsor n/a
11/30/18 Meteor Burger 50.00 Business Meeting Satterwhite, Turner
12/02/18 Cytracom 177.90 Telephone Service n/a
TOTAL 10,030.72
WEDC Assistant Director
JPMorgan Chase
Expense Report 2018
November 2018
DATE VENDOR PURPOSE AMOUNT
11/7/18 TEDC TEDC Conference- Registration -Greiner 300.00
11/30/18 Napoli Business Meeting - Prospect 47.84
Total 347.84
WEDC Senior Assistant
JPMorgan Chase
Expense Report
November 2018
DATE VENDOR PURPOSE AMOUNT
11/15/18 Walmart Manufacturers Day Lunch Supplies 12.16.
11/15/18 Chick-Fil-A Manufacturers Day Lunch 484.24
`
11/16/18 Ballard Street Café Thanksgiving Lunch 41.11
11/28/18 Chick-Fil-A WEDC Board Meeting Meal 46.30'
11/29/18 Core& Main LP Waterline Materials 7,024.45
12/4/18 McDonalds WEDC Board Meeting Meal 16.32+
Total 7,624.58'
WYLIE ECONOMIC DEVELOPMENT CORPORATION
SALES TAX REVENUE
FOR THE MONTH OF JANUARY 2019
MONTH WEDC WEDC WEDC DIFF % DIFF
2017 2018 2019 18 VS 19 18 VS 19
DECEMBER $197,808 $184,849 $214,867 $30,019 15.18%
JANUARY 196,347 191,896 223,750 31,854 16.22%
FEBRUARY 276,698 275,668
MARCH 191,648 182,852
APRIL 168,844 163,485
MAY 244,816 203,707
JUNE 191,732 199,412
JULY 223,571 213,977
AUGUST 261,573 249,590
SEPTEMBER 210,974 213,426
OCTOBER 195,549 210,702
NOVEMBER 267,816 273197
Sub-Total $2,627,376 $2,562,759 $438,617 $61,872 16.42%
AUDIT ADJ
TOTAL $2,627,376 $2,562,759 $438,617 $61,872 16.42%
WEDC SALES TAX ANALYSIS
$300,000 ....
$250,000 .. -, --
$200,000 _ , ___ -. - -.,
$150,000 .-, - -. _ ___
$100,000 e
$50,000 a -__. .a ______ __
$0 .r E . ! k . C C 1 I s k - ;
m m `` a @ c 0
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0 -) LL 0 Z
ylie Econo ic evelop ent Corporation
E O - A BU
To: WEDC Board of Directors
From: Samuel Satterwhite, Executive Directo7;/7
Subject: 2018 Annual Report
Date: January 16, 2019
Issue
Consider and act upon issues surrounding the WEDC 2018 Annual Report.
Analysis
As per the WEDC By-laws, the WEDC must present an annual report to the Wylie City Council
no later than January 31' of each year. The report must include, but is not limited to, a review of
all expenditures made by the Board, a review of accomplishments, and a review of other than
direct economic development. Staff believes the attached Report meets the intent of the
requirements of the By-laws with the same being presented to the Wylie City Council on January
22, 2019.
Recommendation
Staff recommends that the WEDC Board of Directors approve the 2018 WEDC Annual Report
and present the same to the Wylie City Council for their review.
Attachment
2018 Annual Report
Wylie Economic Development Corporation
2018 Annual Report
January 21, 2019
Financial Condition
The Wylie Economic Development Corporation (WEDC) places a priority on financial reporting
each year. The WEDC Bylaws require that each year no later than January 31, a review of all
expenditures, accomplishments, and expenditures other than direct economic development be
presented to Council.
At the end of each fiscal year, the WEDC undergoes an annual audit of its financial practices and
transactions by a third-party firm chosen by the Wylie City Council and facilitated by the City of
Wylie Finance Department. While the FY 2017 - 2018 audit has not been made public and
Presented to Council, the WEDC has not been notified of any discrepancies or irregularities. To
ensure a greater opportunity for a 'clean' audit, WEDC staff works closely with the City of Wylie
Finance Department throughout the year so that there is a complete understanding of all WEDC
activities by Finance staff and the same can be more accurately documented and communicated to
the auditors.
The WEDC began the fiscal year with a fund balance of$886,200. In Fiscal year 2017-18 sales
tax receipts were down 2.46% over 2017 receipts with sales tax revenue totaling $2,562,759 of
available WEDC revenue. Other revenues included rental income of$121,995, sale of a WEDC-
owned pad site on State Highway 78 for $1,367,060, and loan payments of$55,553. Total 2017-
2018 available operating funds totaled $4,999,386.
Expenditures for WEDC operations were as follows: Personnel- $420,877, administrative costs -
$209,811, marketing and promotion activities - $176,629, debt service - $1,097,642 (which
included a one-time $363,089 principal reduction payment), land acquisition - $578,742, direct
business incentives - $775,862 and $226,281 in other expenses including environmental
remediation and other site related expenses. Total expenditures for FY 2017-2018 were
$3,495,476.
As shown above, in FY 2017-18 the WEDC had $775,863 in expenditures on incentives. Within
the figure, $429,994 was paid as part of ongoing sales tax reimbursement programs, $115,869 for
industrial projects and$230,000 for office/medical/general commercial. The WEDC also forgave
two loan payments totaling $161,667 pertaining to infrastructure assistance with the Exco project
and the Clark Street development, both of which met agreed upon performance measures. Of the
incentive payments made, $306,667 represented either a one-time commitment or the final
payment on a multi-year agreement.
As of December 31, 2018, the WEDC owns and manages 30.3 acres of land with 86,834 square
feet of improvements at a cost basis of$9,662,456. In evaluating land which may be acquired,the
WEDC Board of Directors assesses the sites' potential for business park development, the need
for a site to be redeveloped based upon the current state of aging improvements, and/or a strategic
intervention to protect the property from development which may not reflect the highest and best
uses for an identified area. Total outstanding loans for land acquisition are $4,674,752. While
encouraged by our lender, but more of a debt management principal of the Board, as land is sold
2
a majority of the proceeds are used to reduce principal of any loans secured to purchase that
specific property. Reflective of that practice, individual payments to principal of$1.36 mm over
FY 2016—2018 have been made. The current FY 2018—2019 budget identifies $552,000 in debt
service and an additional $1.2 mm in principal reduction payments tied to the potential sale of
WEDC-owned property.
The FY 2018-2019 WEDC Budget identifies $4.74 mm in total revenues & expenditures. Sales
tax receipts,being the primary revenue source, is budgeted at$2.6 mm, sale of WEDC property at
$1.3 mm, and rental income of$112,440. Of the total expenses, Debt Service equals $1.75 mm,
Personnel $422,000, and Incentives $1.25 mm. Within the Incentives budget there are eight
ongoing projects which represent $622,000 in prior commitments and $623,000 budgeted for
future projects.
As an ongoing performance indicator, staff tracks all commercial values as a percentage of the
total assessed valuation (less value attributed to tax-exempt properties). In 2018 commercial
properties were valued at $771 mm, or 16.3% of the total $4.7 billion assessed valuation. Over
the past five years, commercial values have increased by $235 mm (44%) with new construction
accounting for $94 mm of the total. Over the same period, total valuation has increased by $2.1
billion or an 80% increase. With an active housing market, it will continue to be a challenge for
commercial value to reach in excess of 20% of the total with the highest ratio over the past 10
years being 20.42% in 2013.
High-Impact Initiatives
Woodbridge Crossing
The WEDC & City of Wylie continue to fund a sales tax reimbursement program to Inventrust
(owner of Target-anchored Center). In FY 2017-2018, the WEDC reimbursed $251,451 to
Inventrust with the City reimbursing $502,902 with total taxable sales in the Center over the same
period of$77.4 mm (a 3% increase over 2017). The City & WEDC are committed to reimburse
Inventrust up to a maximum$6 mm. $5.45 mm has been reimbursed to date with it estimated that
total obligations will be satisfied on or about June 2019. Over the life of the Performance
Agreement, $5.2 mm in ad valorem taxes have been paid to the City of Wylie with a current
valuation of$74 mm which is a 5.25% increase over 2017. Sales taxes generated over the life of
the agreement, less those reimbursed to the developer, equal $4.8 mm.
In 2018 Inventrust announced plans to construct 24,000 square feet of inline space between Kohl's
and Dollar Tree.The new tenants will include Ulta, Sketchers,and an 8,000 square foot speculative
retail space. Also planned is an additional 5,400 square foot building adjacent to McAlister's
occupied by MOD Pizza and space for one additional retailer.
3
Woodbridge Parkway Corridor
In 2014, the WEDC also partnered with the City of Wylie and the City of Sachse to extend
Woodbridge Parkway from Hensley Lane and provide direct access to State Highway 78. Of the
$976,000 borrowed for the WEDC commitment, there remains a principal balance of$364,940.
The WEDC continues to fund a Sales Tax Reimbursement Agreement with Clark Street
Development (owner/developer of Woodbridge Centre). In FY 2017-2018, $115,087 was
reimbursed to Clark Street with a total of$441,760 paid since July 2013. The center is currently
generating $23 mm in taxable sales on an annual basis.
In 2018, this shopping center welcomed The Credit Union of Texas and Pet Supply Plus. Also
announced was the lease of the last remaining end-cap space to Burgerim— a high-end, gourmet
burger establishment.
The WEDC is funding the final payment in a sales tax reimbursement program and Performance
Agreement to B&B Theatres Operating Company during the month of January. Approximately
$288,609 in infrastructure/sales tax reimbursement payments have been made to B&B since 2013.
Sanden & F.M 544
In 2018 construction continued on the Holiday Inn Express& Suites. The 98-room, 60,000 square
foot project has an estimated construction cost of$9.2 mm. The WEDC entered into a Performance
Agreement with the developer in December 2016 which required that a Certificate of Occupancy
be obtained no later than June 30, 2018. The project was declared in default on July 9, 2018. It is
now anticipated that the hotel will become operational in the Spring of 2019. With La Quinta
coming on-line in December of 2017,hotel occupancy taxes rose 89%over the last twelve months
to a total of$141,016.
The WEDC began work in this area in 2011 with a Performance Agreement to provide median
improvements and remove overhead utilities to benefit the development of Wylie Medical Plaza.
At 60,000 square feet, Wylie Medical is currently 80% leased with an appraised value of$12.6
mm.
State Highway 78 at Cooper Drive
The WEDC closed on the sale of a 1.6-acre lot to SCSD-Finnell in 2018 which is currently under
construction. This sale represents the second of three available lots with a 1.45-acre lot remaining.
In review, the WEDC redeveloped this property over a nine-year period as part of a strategic plan
to repurpose an industrial park developed in the early 1970's. The WEDC completed $525,000 in
site work to support the 5-acre development consisting of two deceleration lanes, median
improvements, a mutual access drive, and utility improvements. In 2017 a Certificate of
4
Completion was received from the TCEQ through the Voluntary Cleanup Program for impacted
soils identified in the development process. Total expenses to date for the project are $5.5 mm
with revenue generated to date of$3.4 mm. The last remaining pad has an estimated market value
of$1.45 mm.
544 Gateway Project
In 2016 the WEDC and City began the process of assembling approximately 13 acres for
redevelopment. Fronting 544 just west of 78, the City has a 5-acre tract acquired through a tax
foreclosure which previously had Superfund status. The remaining 8 acres was acquired by the
WEDC from 2 property owners with frontage on 544 and Commerce Street.
In 2017 the WEDC completed a study on the City site that removed approximately 2 acres from
the flood plain. The WEDC, also in 2017, completed a grading plan and brought in significant fill
which will greatly reduce costs associated with future development. Demolition of existing
buildings was completed in 2018. A remaining structure will stay in place at the north end of the
property until the City of Wylie's 5-acre tract is ready for development. The WEDC assisted
relocation/expansion of the building's tenant(DCU)to a site within Regency Business Park. DCU
completed construction of an 11,000 square foot office/warehouse facility in 2018 and relocated
operations to that facility.
A Certificate of Completion from the TCEQ via the Voluntary Cleanup Program for its 8-acre tract
was received on February 23, 2018. The City's 5-acre tract has been accepted into the TCEQ
Voluntary Cleanup Program and it is anticipated that all remediation and cleanup requirements
will be met and will receive a certificate of completion from the TCEQ in early 2020. In
partnership with the City of Wylie,the WEDC has expended$521,000 on remediation,demolition,
dirt work,maintenance,etc. with the WEDC carrying a current principal balance of$2 mm on debt
associated with the acquisition of the WEDC-owned 8 acres.
Jackson Street
The WEDC continues to market its 1-acre property at the northeast corner of Jackson & Oak for
an office development. While the mixed-use vision originally proposed has received little interest
from the development community due to estimated project costs, the WEDC is currently
discussing a 4-phased office development which may generated significant day-time employment
benefitting Historic Downtown Wylie.
The WEDC closed on a 0.26-acre tract near the northwest corner of Jackson& Oak in August of
2017. The WEDC had been negotiating with the property owner for over 2 years to acquire the
lot. Prior to closing,the 1940's family homestead which was beyond repair was demolished.
In December 2018 the WEDC entered into contract with Rocking M, LLC to develop a 3,200
square foot office building on the lot. The WEDC Board believes the office project will promote
5
further investment in the downtown area. It is anticipated that the sale will close by March 1,2019
with construction to begin no later than April 2019.
Also in December 2018, the WEDC closed on 0.17 acre lot at the northeast corner of Oak and
Birmingham. Similar to the Rocking M project, the existing structure previously utilized as a
residential rental property will be demolished with the WEDC currently negotiating with a local
developer for the construction of a two-story, ±3,900 square foot office project.
State Hi hway 78 & Westgate
After 20 plus years of marketing 16 acres located near the intersection of F.M. 544 and Westgate,
a$32 mm project is underway on a previously registered State landfill. The property was impacted
by polypropylene and plastic shavings generated from a copper recycling business operating
nearby in Wylie. To facilitate the project, the City and WEDC entered into a public-private
partnership with the developer outlining fee waivers and financial assistance. Remediation and
site costs were estimated at$816,000. Phase I of the project will consist of 286 multi-family units,
2,300 sf of general retail, and 3,200 sf of restaurant space. Phase I must receive a Certificate of
Occupancy no later than September 1, 2020 in order to be eligible for public assistance under the
Agreement.
Commercial & Industrial Expansions/Relocations
In 2018, the WEDC executed ten Performance Agreements totaling 339,000 square feet of new
construction and facilitated $37 mm in new investment.
With acquisition of property for business park development a continuing objective,the WEDC has
experienced great success in attracting investment and primary jobs via the development of
business parks. Between the development of Premier Business Park, 544 Industrial Park, and
Premier Business Park South, the WEDC facilitated the development of 862,000 square feet of
new construction, over 800 new/retained jobs, and currently $97,677,000 in taxable value - on
only 70 acres.
2019 Goals & Objectives
While WEDC activities are often reactive, proactive efforts in 2019 must address the following:
• Downtown Revitalization and Expansion
• VCP on 544 Gateway Property
• Masterplan 544 Gateway property
• Workforce Development
• Industrial Park Development on Alanis
• Partner with Kansas City Southern Railway Company for the Development of a 250-acre
Logistics Park
6
• Complete Acquisition and Begin Redevelopment of a 13.2-acre Master Planned Site at
State Highway 78 and Brown Street
7
ylie Econo ic I evelop ent Corporation
A
E • - ANBU
TO: WEDC Board of Directors
FROM: Jason Greiner, Assistant Director(-_,----\-
SUBJECT: Property Management Agreement
DATE: January 18, 2019
Issue
Consider and act upon a Property Management Agreement between the WEDC and Robert Heath
Management.
Analysis
Multiple properties acquired, and soon to be acquired, as part of the WEDC acquisition of properties
at Brown & 78 have existing tenants. Attached for the Board's review is a Property Management
Agreement between the WEDC and Mr. Robert Heath. The Property Management Agreement
outlines the services that Heath Management will provide and allow WEDC staff to focus on
strategic activities surrounding redevelopment of the site as a whole.
The term of the Agreement will begin immediately and may be terminated by ninety (90) days
written notice by either party. Heath Management will collect all monies from tenants and remit
those same funds to the WEDC, less expenses and a 20% management fee of gross rents, on a
monthly basis.
Recommendation
Staff recommends that the WEDC Board of Directors authorize the Executive Director to execute
the Property Management Agreement between the WEDC and Mr. Robert Heath.
Attachments
Property Management Agreement
PROPERTY MANAGEMENT AGREEMENT
Between Wylie EDC, Owner, and Robert Heath Management
This property management agreement ("Agreement") is made effective as of the
day of 2019 by and between Owner and Agent. This Agreement
pertains to certain real property located at 410, 502, & 504 E. Brown St. Wylie, Texas
75098 (the "Property") as may be amended in writing, with all improvements,
appurtenances, and equipment located thereon. Owner desires to contract with Agent
to provide full property management services for above mentioned property. In
consideration of the covenants and agreement below, the parties agree as follows:
Article 1: Appointment and Acceptance
The Owner appoints the Agent for the management of the Property.
Article 2: Term and Termination
This Agreement shall be in force beginning on the day of , 2019
until which time the Agreement is terminated by either party providing ninety (90) days
written notice of the same. Either party may request amendments or modifications to
the Agreement by providing thirty (30) days written notice with the parties agreeing to
negotiate in good faith the terms of any such amendment. In the event the parties
cannot mutually agree on acceptable terms, the Agreement shall terminate at the end
of the thirty (30) day period.
This Agreement shall also be subject to termination upon any of the conditions identified
in Article 8.
Article 3: Services of Agent
3.1 Agent represents:
a) That it is experienced in professional management of property of the
character and nature similar to the property.
b)That it is legally authorized to manage such property in the state of Texas.
c) That it will manage the property in accordance with the highest
professional standards for such property.
d) That it confer fully and regularly with the owner in the performance of
its duties and to continue to remain informed regarding the property.
3.2 As soon as practicable and if rehabilitation or construction is required, Owner
shall furnish Agent with a complete set of general plans and specification for the
property and copies of all guaranties and warranties pertinent to construction and
fixtures and equipment of the property. Agent shall utilize this information along
with inspections from appropriate staff to thoroughly familiarize itself with the
character, construction, layout, and plans of the property, including the electrical,
heating, plumbing, and ventilating systems and all other mechanical equipment
in the property.
3.3 Agent shall offer for rent and shall rent the property in accordance with all
requirements, a rent schedule, including required deposit amounts and
conditions, approved in writing or by email by Owner. Agent shall:
a) Carry out marketing in accordance with the approved Resident Selection
and Affirmative Marketing Plans.
b) Maintain a current list of acceptable prospective tenants and undertake
all arrangements necessary and incidental to the acceptance of rental
applications and the signing of Leases.
c) Show rental property to all prospective tenants.
d) Take and process applications for rentals, including interviewing and
screening prospective tenants. Applicants shall be selected from the
waiting list in chronological order.
e) Use a lease form that complies in all respects with State and local
tenant/landlord laws. Lease shall be subject to the approval of Owner, if
Owner shall so request.
f) Sign all leases in Agent's name, identified as agent for Owner.
g) Collect, deposit, and disburse tenant deposits, if required, in accordance
with the terms of each Lease.
h) Prorate the first month's rent collected from a tenant should the Lease
term commence on any other day than the first day of the month. If the
Lease term occurs after the 25th day of the month, the prorated amount,
plus the next month's rent, shall be collected on or before the first day of
the Lease term.
i) Participate with the Tenant in the inspection of the property identified
in the Lease prior to move-in and upon move-out, and record in writing any
damage to the property at the time the Tenant moved in and any damage
occurring during the Tenant's occupancy.
3.4 Agent shall collect, when due, all rents, charges and other amounts receivable
on Owner's account in connection with the management and operation of the
property. Such receipts shall not be comingled with other funds and shall be
deposited and held in the checking account in accordance with the provisions of
Section 6.1.
3.5 Agent shall secure full compliance by the Tenant with the terms of such
Tenant's lease and in a manner consistent with the Landlord-Tenant laws
governing the property. Voluntary compliance will be emphasized, and Agent
shall counsel Tenant and make referrals to community agencies in cases of
financial hardship or under other circumstances deemed appropriate by Agent, to
the end that involuntary termination of tenancy may be avoided to the maximum
extent consistent with sound management of the property. Nevertheless, Agent
may, and shall if requested by Owner, lawfully terminate any tenancy when, in
Agent's judgment, sufficient cause for such termination occurs under the terms of
Tenant's Lease, including, but not limited to, nonpayment of rent. For this
purpose, Agent is authorized to consult with legal counsel to be designated by
Owner and bring actions for eviction and execute notices to vacate and judicial
pleadings incident to such actions; provided, however, that Agent shall keep
Owner informed of such actions and shall follow such instructions as Owner may
prescribe for the conduct of any such action. Reasonable attorney fees and other
necessary costs incurred in connection with such actions, as determined by
Owner, shall be paid out of the checking account. Agent shall properly assess and
collect from Tenant or the Tenant Deposit the cost of repairing any damages to
the property arising during the Tenant's occupancy.
3.6 The agent will ensure that the Property is maintained and repaired in
accordance with the Owner's specifications and applicable state and local health
and building codes. The Agent shall, at Owner's expense, maintain the Property
in a decent, safe, and sanitary condition. The Agent will ensure that the site will
be kept in a condition acceptable to the Owner, including but not limited to
cleaning, painting, decorating, plumbing, carpentry, grounds care, and such other
maintenance and repair work as may be necessary. The following provisions will
apply:
a) Special attention shall be given to preventive maintenance.
b) Subject to Owner's prior written approval, Agent shall contract with
qualified independent contractors for the maintenance and repair of major
mechanical systems, and for the performance of extraordinary repairs
beyond the capability of regular maintenance personnel.
c) Agent shall systematically and promptly receive and investigate all
service request from Tenant, take such action thereon as may be justified,
and keep records of the same. Emergency request shall be serviced on a
24-hour basis. Complaints of a serious nature shall be reported to Owner
after investigation. At Owner's request, Owner shall receive all service
requests and the reports of action thereon.
d) Agent shall take such action as may be necessary to comply with any
and all orders and requirements of federal, state, county, and municipal
authorities and of any board of fire underwriters, insurance companies, and
other similar bodies pertaining to the Property.
e) Except as otherwise provided in this Section, Agent is authorized to
purchase, at Owner's expense, all materials, equipment, tools, appliances,
supplies and services necessary for proper maintenance and repair of the
Property. Agent shall obtain bids for all contracts, materials, supplies,
utilities, and services exceeding $200.00 for those items that can be
obtained from more than one source. Agent shall secure and credit to
Owner all discounts, rebates, or commissions obtainable with respect to
purchase, service contracts, and all other transactions on owner's behalf.
f) Notwithstanding the foregoing, the prior written approval (or email
approval) of Owner will be required for any contract that exceeds one year
in duration, or expenditure that exceeds $200.00 in any one instance for
labor, materials, or otherwise in connection with the maintenance and
repair of the Property, except for emergency repairs involving manifest
danger to persons or property, or required to avoid suspension of any
necessary service to the Property.
g) In the event of emergency repairs, Agent shall notify Owner promptly,
and in no event later than 72 hours from the occurrence of the event.
3.7 Agent shall make arrangements for water, electricity, gas, fuel, oil, sewage,
and trash disposal, vermin extermination, and other necessary services in
connection with the Property. Subject to Owner's prior written consent (or email)
as required in Section 3.8, Agent shall make such contracts as may be necessary
to secure utilities and services.
3.8 All personnel assigned to work on the Property shall be contracted service
providers or employees of Agent, who are subject to the approval of Owner, and
shall be paid by Agent out of the checking account as agreed to by Owner and
Agent, or billed to Owner.
3.9 Agent shall have the following responsibilities with respect to records and
reports:
a) Agent shall establish and maintain a system of records, books, and
accounts in a manner satisfactory to Owner, which is consistent with and
for the duration of this Agreement. All records, books and accounts shall
be subject to examination at reasonable hours upon reasonable notice by
Owner.
b) At Owner's request, a quarterly or monthly report will be prepared by
Agent including a statement of income and expenses for the month and
year-to-date, a statement if there is any delinquent rent due and any action
taken thereon, a summary of disbursements, and also a balance sheet
showing cash balance in the bank account.
c) Agent shall pay for all bookkeeping, data processing services, report
preparation and management overhead expenses, unless extra reports are
required by Owner. At Owner's request and expense, extra reports
requested will be given to Owner.
d) Agent shall establish a Tenant file containing a copy of the Lease and
any other documentation required by Owner as necessary.
3.10 As additional support to reports in 3.9b, Agent shall provide, upon Owner's
request and as an expense to the Property copies of the following:
a) All bank statements, bank deposit slips, and bank reconciliations:
b) Detailed cash receipts and disbursement records;
c) Detailed trial balance; and
d) Paid invoices
3.11 Agent shall encourage and assist Tenant of the Property to take ownership
of the Property and to increase their ability and incentive to protect and maintain
the Property and to contribute to its efficient management. The agent agrees to
handle all tenant relationships in a manner that incorporates professional
business standards.
3.12 Agent shall be available for communications with Owner and shall keep
Owner advised of items materially affecting the Property.
3.13 Agent shall perform such other acts requested by Owner as are reasonable,
necessary and proper in the discharge of Agent's duties under this Agreement.
ARTICLE 4: MANAGEMENT AUTHORITY
4.1 Agent's authority is expressly limited to the provisions contained herein, as
they may be amended in writing from time to time in accordance with the
provisions of this Agreement. Owner expressly withholds from Agent any power
or authority to make any structural change in the Property or to make any other
major alterations or additions in or to the Property or fixtures or equipment
therein, or to incur any expense chargeable to Owner other than expenses related
to exercising the express powers granted to Agent by the terms of this Agreement,
without the prior written consent of Owner.
4.2 Agent shall have the right to engage independent contractors for performance
of its duties hereunder as Agent deems necessary, but Agent shall have the
responsibility for supervision of the performance of such duties. All contracts with
independent contractors in excess of$200.00 shall be subject to the prior written
consent (or email consent) of Owner. Expenses necessary for maintenance of
Property or repairs shall be solely the responsibility of Owner.
4.3 Agent shall comply fully with all federal, state, county, municipal and special
district laws, ordinances, rule, regulations, and orders relative to the leasing, use,
operation, repair, and maintenance of the Property. Agent shall promptly remedy
any violation of any such law, ordinance, rule, or regulation which comes to its
attention and shall notify Owner by the end of the next business day after Agent
becomes aware of any violation for which Owner may be subject to penalty.
Agent shall take no action so long as Owner is contesting or has affirmed its
intention to contest any such order or requirement.
4.4 In the performance of its obligations under this agreement, the Agent will
comply with the provisions of and Federal, State, or local Fair Housing law
prohibiting discrimination in housing or employment on the grounds of race,
color, religion, sex, familial status, National origin, or handicap, and other
nondiscrimination laws such at Title VI of the Civil Rights Act of 1964 (Public law
88-352, 78 Stat. 341), Section 504 of the Rehabilitation Act of 1973, and the Age
Discrimination Act of 1975, and the Americans with Disabilities Act, as applicable.
4.5 Agent shall maintain as confidential any financial information obtained from
or about Owner, even after termination of this Agreement.
ARTICLE 5: INSURANCE AND INDEMNIFICATION
5.1 Except as expressly provided to the contrary herein, the obligations and duties
of Agent under this Agreement shall be performed as agent of Owner, but Agent
shall be personally liable for its breaches of the Agreement and for damages and
costs (including reasonable attorney fees) resulting from Agent's negligence or
misconduct.
5.2 Insurance
a) Owner shall obtain and keep in force insurance for the Property against
physical damage and also against liability for loss, damage or injury to
property or persons.
b) Agent shall furnish whatever readily available information is requested
by Owner for the purpose of obtaining insurance coverage, and shall aid
and cooperate in every reasonable way with respect to such insurance and
any loss.
ARTICLE 6: REMITTANCE OF FUNDS
6.1 Agent shall deposit immediately upon receipt all Rents and other funds
collected from Property Tenant in a bank checking account of Agent and remit
total funds to Owner on a monthly basis less fees and expenses.
6.2 Any disbursements made by Agent pursuant to this Agreement shall be made
out of the Agent bank account. Owner agrees to make necessary operating funds
available to Agent on a case by case basis as requested in writing for the
maintenance or operation of the Property or otherwise, Owner shall reimburse
Agent therefor within a reasonable time after demand. Any purchases for the
Property where Agent uses his credit card shall be reimbursed to Agent by Owner
upon presentation of a copy of the receipt and description of what was purchased
and why.
6.3 Notwithstanding any of the foregoing provisions or any similar provisions that
follow, the prior written approval of the Owner will be required for any
expenditure which exceeds $200.00 in any one instance involving the Property or
labor, materials, or otherwise in connection with the maintenance and repair of
the Property. This limitation is not applicable to emergency repairs involving
manifest danger to persons or property, or that are required to avoid suspension
of any necessary service to the Property. In the latter event, the Agent will inform
the Owner of the facts as promptly as possible.
6.4 Agent will secure and credit to Owner all discounts, rebates and commissions
obtainable with respect to purchases, services, contracts and all other
transactions on Owner's behalf.
ARTICLE 7: AGENT COMPENSATION
The monthly compensation which the Agent shall be entitled to receive for
management services performed under this Agreement shall be a fee in the
amount equivalent to 20% of effective gross income. The Agent will receive the
management fees as outlined in Article 6.1.
ARTICLE 8: TERMINATION
8.1 This Agreement shall be terminated automatically and immediately upon
destruction, condemnation, sale, exchange, or other disposition (excluding any
mortgage or refinancing) of the Property by Owner.
8.2 This Agreement will terminate by mutual written consent of Agent and Owner.
8.3 This Agreement shall terminate upon the occurrence of any of the following
circumstances, which shall be considered default:
a) The filing of a voluntary petition of bankruptcy of insolvency or a petition
for reorganization under any bankruptcy law by either Owner or Agent.
b) The consent to an involuntary petition in bankruptcy or the failure by
either Owner or Agent to vacate within 90 days from the date of the entry
of any order approving an involuntary petition.
c) The entering of an order,judgment or decree by any court of competent
jurisdiction, on the application of a creditor, adjudicating either Owner or
Agent a bankrupt or insolvent or approving a petition seeking
reorganization or appointing a receiver, trustee or liquidator of all or a
substantial part of such party's assets, and such order, judgment, or decree
shall continue unstayed and in effect for a period of 120 consecutive day.
d) The failure of Agent to perform, keep, or fulfill any of its duties or to
comply with the covenants, undertakings, obligations, or conditions set
forth in this Agreement, and the continuance of any such default for a
period of 30 days after written notice of such failure (except in the event of
Agent's misconduct, in which case no notice shall be required).
e) The failure of Owner to make available sufficient funds to maintain the
Property in compliance with applicable state and local laws, and such failure
to provide funding continues for a period of 30 days after Agent provides
Owner with written notice of the need for such funds.
Upon any such event of default, the non-defaulting party may, without prejudice
to any other recourse at law that it may have, give to the defaulting party notice
terminating this Agreement.
8.4 Within five days after the termination of this Agreement, Agent shall pay the
balances regarding the Property to Owner. Within 10 days after the termination
of the Agreement, Agent shall deliver to Owner all books and records, keys,
reports, files, Leases, contracts, and all other written material concerning the
Property. Within 30 days after the termination of this Agreement, Agent shall
submit to Owner all reports required by Section 3.9 hereof to the date of such
termination, and Agent and Owner shall account to each other with respect to all
matters outstanding as of the date of termination. Upon Owner's request, Agent
shall assign to Owner any and all contracts requested by Owner concerning the
Property, to the extent permitted by such contracts, and shall cooperate with the
Owner in connection with the transition to a new manager, considering Agent's
time and expenses.
8.5 Upon termination of this Agreement for any reason, Agent shall deliver to
Owner immediately upon termination (or upon Agent's subsequent receipt or
acquisition) all records, contracts, Lease, receipts for deposits, unpaid bills, and
other papers or documents relating to the Property.
ARTICLE 9: COOPERATION
If any claims, demands, suits, or other legal proceedings that arise out of any of
the matters relating to this Agreement be made or instituted by any person
against either Owner or Agent, Owner or Agent shall give to each other all
pertinent information and reasonable assistance in the defense or other
disposition thereof, at its sole expense.
ARTICLE 10: CONSENT
Whenever in this Agreement the consent or approval of Agent or Owner is
required, such consent or approval shall not be unreasonably withheld or delayed.
Such consent shall be in writing and shall be duly executed by an authorized officer
or agent for the party granting such consent or approval (even email is
admissible); provided, however notwithstanding anything in the Agreement to
the contrary, if such consent or approval would be required for Agent to comply
with the requirements, Agent shall not be responsible for a failure to comply with
the requirements as a result of Owner's refusal or unreasonable delay to so
consent or approve.
ARTICLE 11: NOTICES
All notices, demands, consents and reports provided for in this Agreement shall
be given in writing or email, and shall be deemed received by the addressee on
the third day after mailing by the United States certified or registered mail,
postage prepaid, or by email, or on the day delivered if personally delivered at the
following addresses:
OWNER: Name: Wylie EDC
Address: 250 TX-78, Wylie, TX 75098
Phone: 972-442-7901
Email: info@wylieedc.com
AGENT: Name: Robert Heath
Address: 201 N. Ballard Ave. Ste. 107 Wylie, TX 75098
Phone: 972-768-7801
Email: robertheath2@gmail.com
These addresses may be changed by giving written notice of such change to other
party.
ARTICLE 12: MISCELLANEOUS
12.1 Special Power of Attorney. Owner authorizes Agent as attorney-in-fact for
Owner to enter into and execute Leases and/or rental agreements with respect to
the Property on forms approved by Owner, to collect rents and other funds due
Owner in Agent's name on Owner's behalf.
12.2 Entire Agreement. This Agreement constitutes the entire Agreement
between Agent and Owner, and no amendments, alterations, modification, or
addition to the Agreement shall be valid or enforceable unless expressed in
writing and signed by the parties hereto.
12.3 Waiver. The waiver of any of the terms and conditions of this Agreement on
any occasion or occasions shall not be deemed as waiver of such terms and
conditions on any future occasion.
12.4 Illegality. If any provision of this Agreement shall prove to be illegal, invalid
or unenforceable, the remainder of the Agreement shall not be affected thereby.
12.5 Relationship. Nothing contained in this Agreement shall be construed to
create a relationship of employer and employee between Owner and Agent, it
being the intent of the parties hereto that the relationship created hereby is that
of an independent contractor. Nothing contained herein shall be deemed to
constitute the Owner and Agent relationship as a partnership or joint venture.
12.6 Governing Law. This Agreement shall governed by and interpreted in
accordance with the laws of the state of Texas.
12.7 Enforceability. The invalidity of any clause, part, or provision of this
Agreement shall not affect the validity of the remaining portions thereof. Owner's
remedies under this Agreement are cumulative, and the exercise of one remedy
shall not be deemed an election of remedies nor foreclose the exercise of Owner's
other remedies. No waiver by Owner of any breach of this Agreement shall be
deemed to be a waiver of any other or subsequent breach. Owner or Agent may
apply to any court, state or federal, for specific performance of this Agreement,
for an injunction against any violations of this Agreement, or for such other relief
as may be appropriate, since the injury arising from a default under any of the
terms of this Agreement would be irreparable and the amount of damage would
be difficult to ascertain. However, for damage claims, the parties agree they will
first seek voluntary mediation in the case of any dispute, claim, counter-claim,
defense, controversy (collectively, "Disputes") between the parties concerning
this Agreement. The party initiating mediation shall choose a neutral mediator
and propose times and dates for mediation. If the second party objects to the
choice of mediator, a second mediator will be chosen. The mediation shall be
conducted under the then existing rules of American Arbitration Association. The
mediation shall take place in Wylie, Texas and mediator fees shall be shared
equally between the parties. The resolution of the disputes shall be memorialized
in writing. If mediation is unsuccessful, the disputes may be raised in any court
with jurisdiction over the matter.
12.8 Attorney Fees. If any judicial remedy is necessary to enforce or interpret any
provision of the Agreement, the prevailing party shall be entitled to reasonable
attorney fees, costs and other expenses, at trial and on appeal.
12.9 Successors and Assigns. This Agreement shall inure to the benefit of and
constitute a binding obligation upon Owner and Agent and their respective
successors and assigns; provided, however, that Agent shall not assign this
Agreement or any of its duties hereunder, without the prior written consent of
Owner.
12.10 No Third Party Beneficiaries. Nothing in this Agreement is intended to
benefit any person or entity other than the Owner or Agent, and this Agreement
shall not be construed to provide any other persons or entities with any rights or
remedies against the implementation or enforcement of any term of this
Agreement.
MANAGER DIRECTOR
By . By
Signature Signature
Print Name: Robert Heath Print Name: Sam Satterwhite
Date: Date:
• I
ylie Econo isevelop ent Corporation
MEMORANDUM
TO: WEDC Board of Directors
FROM: Sam Satterwhite, Executive Director/
SUBJECT: 300 Brown Street
DATE: January 18, 2019
Issue
Consider and act upon issues surrounding the disposition of WEDC property located at 300 Brown
Street.
Analysis
On December 28, 2018 the WEDC purchased a 2.4-acre tract on Brown Street previously utilized
as a nursing home. The operator was down to approximately 50% occupancy at most when a hail
storm damaged the 24,000 square foot structure to a point that returning it to a useable state as a
nursing home was not a viable option. For liability reasons, the facility was eventually boarded
up.
As a central tract within the 13-acre redevelopment project, the question at hand is will the
improvements be kept in place and generate income as the WEDC market the property for a master
planned project or should the building be demolished?
Staff has by no means preformed an exhaustive search for a developer to take on the remodel and
leasing of the facility, Mr. Bob Heath and Mr. Bobby Heath have approached staff and inquired as
to the potential to lease the property and provide office space for multiple businesses. The Heath
proposal and preliminary financial analysis is as follows:
• Heath remodels common areas and two wings initially($35,000)
o Each wing has eight(8) rooms/offices
• Additional wings are remodeled as occupancy reaches 'x'
• Offices are leased for $500 per month
• Remaining wings will be sealed off
• WEDC receives 20% of the lease = $800 per wing per month at max occupancy
• Negotiated 'notice' provided to tenants following initial 2 years
• Significant risk factors impacting the project ($10,000 in additional costs would
significantly impact the project)
o State of Heat/AC
o Fire Sprinkler infrastructure
WEDC —300 Brown Street
January 18, 2019
Page 2 of 3
o Fire Alarm system
o Plumbing
• Heath responsible for collecting leasehold taxes
• 2-year minimum commitment
o Improvements to a 3rd wing would not create a new 2-year commitment
• Utilities would have to be up to code for entire building as well as sprinkler system and
fire alarm system
The second alternative referenced above would be to demolish the structure which could begin as
early as February 5th. As presented throughout the due diligence period, the structure is
significantly impacted by asbestos as evaluated by Farmers Environmental, a licensed
environmental consulting & compliance company which was on-site November 30, 2018 through
December 3, 2018.
Specifically identified by Farmers as friable materials with various percentages of asbestos content
was 140,250 square feet of drywall joint compound and various textures. As well, Farmers
identified non-friable asbestos products with varying percentage of asbestos content with 27,500
square feet of black mastic under multiple layers of vinyl floor tile, 3,900 square feet of black
mastic under ceramic floor tile,and 200 square feet of black mastic under blue rubber mat flooring.
The Texas Asbestos Health Protection Rules (TAHPR) dictate that only a Texas Department of
State Health Services (TDSHS) licensed Asbestos Abatement Contractor can repair, remove,
enclose, or encapsulate asbestos-containing material. TAHPR also dictates that asbestos
abatement activity be designed and monitored by a TDSHS-licensed Asbestos Consultant with the
abatement contractor and consultant not being the same entity.
Should the improvements remain intact and the WEDC lease the property for a period of time,the
asbestos-containing materials can remain wholly in place save and except those damaged areas
which will need to be replaced via a remodel. However, unless the building remains intact
indefinitely or the TDSHS changes its position on asbestos remediation, the quantities identified
by Farmers will have to removed.
In addition to Intercon, staff provided the Farmers report to NorthStar Demolition&Remediation
and Midwest Wrecking Company out of Dallas and Ft. Worth respectively. It was requested of all
entities to provide pricing for all labor, material, equipment and insurance necessary for the
asbestos remediation, demolition, and hauling off all debris to a regulated landfill associated with
the structure located at 300 Brown Street. The bids received were as follows:
• Northstar $417,525
• Midwest 430,000
• Intercon 385,000
At 100% occupancy for two wings for two years, the WEDC could realize revenues of$38,400.
This is assuming the remodel of two wings and common areas does not come in significantly
higher than$35,000. Staff believes however there is value to moving forward sooner than later on
WEDC—300 Brown Street
January 18, 2019
Page 2 of 3
the demolition. That value being the removal of a dilapidated structure which has been a cause for
concern for almost 3 years. Additionally,the focus of WEDC interest in the area(Brown& 78) is
100% redevelopment in an effort to promote the highest and best uses and values. Staff believes
that the design and layout of the existing structure has no long-term value and is unappealing to
office users wanting to have a significant presence in the area. Further,the options are limited for
repurposing the structure as-is. Finally, it will be difficult to pass this responsibility(remediation
& demolition) on to a future developer.
Staff Recommendation
Staff recommends that the WEDC Board of Directors authorize the Executive Director to enter
into a contract with Intercon Demolition for the asbestos remediation and demolition of all
improvements located at 300 Brown Street in an amount not to exceed $385,000 with a start date
on or about February 5, 2019.
ylie cono ic evelop ent Corporation
E 0 - A DU
To: Samuel Satterwhite, Executive Direct()•
From: Angel Wygant, Senior Assistant
Subject: Budget Amendment
Date: January 15, 2019
Issue
Consider and act upon issues surrounding a WEDC Budget Amendment for FY 2018 - 2019.
Analysis
To accommodate unanticipated revenues and expenses associated with recent land acquisition
and potential remediation & demolition activities, the following amendments are required for the
FY 2018 - 2019 Budget. The figures below only represent the increases and reductions to the
prior budgeted amounts.
Revenues:
Bank Note Proceeds $ 4,500,000
Sale of Land 252,726
Rental Income 10,000
Total $4,762,726
The $4.5 mm loan from The American National Bank of Texas will be accounted for with an
increase to Bank Note Proceeds in the same amount. Sale of Land is being amended to more
accurately reflect the potential sale of a WEDC pad site and the potential sale of an additional
parcel to be discussed within Executive Session. An increase to Rental Income reflects existing
leases in place within the Brown& 78 project.
Expenses:
Incentives -$123,786
Special Services 370,000
Community Development -500
Insurance 1,200
Debt Service 220,130
Land Purchase Price 4,500,000
Streets & Alleys 167,760
Total $5,134,804
WEDC —Budget Amendment
January 15, 2019
Page 2 of 2
Future Project monies are being reduced within Incentives to partially fund Brown Street
remediation and demolition which is also accounted for with increases to Special Services.
Transfer to (City) General Fund is also reduced from the budgeted amount of$20,000 to $5,000
which funds an existing Interlocal Agreement for administrative services between the City and
WEDC.
The budget for Debt Service will be amended to address the new ANB loan associated with
Brown & 78 acquisitions ($262,969 for remainder of the fiscal year), and the early payoff of the
Peddicord/White loan ($494,954) as recommended by ANB to meet certain cash flow
requirements. The Principal Reduction budget was reduced from $1.2 mm to $749,240 to
accommodate the shift in priorities.
Streets & Alleys is amended to reflect the carry over of the Ballard Street alley project from the
prior fiscal year (new start date the week of 1-28-19), the Eubanks water line improvements, and
a savings of$1,320 on the Hensley Lane roadway improvements.
In addition to the Budget Amendment spreadsheet, staff has provided a more detailed review of
the FY 2018 — 2019 Budget as previously approved by the Board and Council, the Amended
Budget for FY 2018 — 2019, and an equally important analysis of projected expenditures through
FY 2021 — 2022. Staff will provide a thorough presentation of this document at the upcoming
Board Meeting.
Upon approval of the Budget Amendment, WEDC staff will present the same to Council for their
consideration on either February 12th or 26th.
Recommendation
Staff recommends that the WEDC Board of Directors approve WEDC Budget Amendment #1
for FY 2018—2019.
BUDGET AMENDMENT - REVENUES FISCAL YEAR 2019
RANK 1 OF 1 REQUEST: DEPARTMENT: WEDC
New Request: XX New personnel? Salary Grade:
Funds already received? Change Level of current personnel? From: To:
PURPOSE/OBJECTIVE OF REQUEST:
Increase Revenues to recognize bank note proceeds,increased rental income from purchased properties and a revision to anticipated proceeds from sale of
land.
ACCOUNT NO. DESCRIPTION AMOUNT
111 4000 49325 Bank Note Proceeds 4,500,000.
111 4000 48430 Sale of Land - increase from $1,300,000 to $1,552,726 252,726
111 4000 48110 Rental Income- increase from 112,400 to 122,400 10,000
TOTAL 4,762,726
ADDITIONAL COMMENTS:
BUDGET AMENDMENT - EXPENSES FISCAL YEAR 2019
RANK 1 OF 1 REQUEST: DEPARTMENT: WEDC
New Request: XX New personnel? Salary Grade:
Funds already received? Change Level of current personnel? From: To:
PURPOSE/OBJECTIVE OF REQUEST:
Record anticipated expenses asociated with land acquisition,expenses associated with land maintenance and preparation for redevelopment,debt service
and infrastructure investment.
ACCOUNT NO. _ DESCRIPTION AMOUNT
111 5611 56030 Incentives -123,786
111 5611 56040 Special Services _ 370,000
111 5611 56090 Community Development -500
111 5611 56310 Insurance 1,200
111 5611 57110 Debt Service 220,130
111 5611 58110 Land - Purchase Price 4,500,000
t 111 5611 58210 Streets &Alleys 167,760
TOTAL 5,134,804
ADDITIONAL COMMENTS:
Wylie Economic Development Corporation
FY 2018-2022
Approved Amended Projected Projected Projected
REVENUES 2018-2019 2018-2019 2019-2020 2020-2021 2021-2022
Unreserved Beginning Fund Balance(10-01) 720,887 1,462,636 369,671 375,053 86,050
Sales Tax 2,600,000 2,600,000 2,730,000 2,730,000 2,730,000
Allocated Interest Earnings 3,600 3,600 0 0 0
Sale of WEDC Pad Site/Land 1,300,000 1,552,726 914,760 609,840 609,840
ANB Loan Proceeds 0 4,500,000 0 0 0
Rental Income
Brown&78 0 10,000 30,000 0 0
Existing Properties 112,440 112,440 106,440 16,800 16,800
TOTAL REVENUES 4,736,927 10,241,402 4,150,871 3,731,693 3,442,690
EXPENSES
Personnel Services-Direct Comp. 422,181 422,181 443,290 360,454 378,477
Office Supplies 14,040 14,040 14,040 14,040 14,040
Computer Hardware and Software(maintenanc 2,000 2,000 2,000 5,000 2,000
Incentives
Wdbrdg Ctr-Inland.-Sales Tax Reimburses 275,000 275,000 0 0 0
B&B Theatre-Sales Tax Reimbursement 25,000 25,000 0 0 0
B&B Theatre Incentive(6 of 6) 25,000 25,000 0 0 0
CSD-Sales Tax Reimbursement 175,000 175,000 175,000 175,000 175,000
EXCO(2 of 5) 20,000 20,000 0 0 0
SAF 45,000 45,000 60,000 60,000 0
Metalbilia 0 0 0 0 0
Dank(1 &2 of 4) 37,100 37,100 37,100 37,100 0
Hooper-Woodbridge(1 of 1) 20,000 20,000 0 0 0
Sanden 0 0 100,000 100,000 100,000
Project 2020 0 0 500,000 500,000 500,000
Future Projects 623,786 500,000 200,000 200,000 200,000
Special Services 263,900 633,900 150,000 150,000 150,000
Advertising 127,000 127,000 130,000 130,000 130,000
Community Development 68,600 68,100 50,000 50,000 50,000
Communications 9,628 9,628 9,500 9,500 9,500
Rental Expense 29,328 29,328 40,000 40,000 40,000
Travel,Training,and Recruitment 55,425 55,425 40,000 50,000 40,000
Dues&Subscriptions 30,610 30,610 30,000 18,000 18,000
Insurance 3,110 4,310 4,000 4,000 4,000
Audit and Legal Services 39,000 39,000 39,000 39,000 39,000
Engineering-Architect 30,000 30,000 30,000 30,000 30,000
Utilities 2,400 2,400 3,000 3,000 3,000
Debt Service
ANB-Peddicord/White(#88149711) 88,589 494,954 0 0 0
ANB-Buchanan 80,651 80,651 0 0 0
ANB-K&M/Hobart 104,943 104,943 0 0 0
Kirby-Dallas Whirlpool 81,111 82,667 242,988 242,988 242,988
Woodbridge Parkway 159,215 159,215 159,215 110,876 0
Jarrard 37,310 37,310 37,310 37,310 37,310
brown&78 0 262,969 579,375 579,375 579,375
1/17/2019
Wylie Economic Development Corporation
FY 2018-2022
Principal Reduction 1,200,000 749,240 500,000 500,000 500,000
Land
Acquisition&Closing Costs 300,000 300,000 200,000 200,000 200,000
Brown&78 0 4,500,000 0 0 0
Streets&Alleys
Downtown Alley(s) 150,000 300,000 0 0 0
544 Water Line 150,000 150,000 0 0 0
Eubanks Water Line 0 19,080 0 0 0
Hensley Lane-Concrete 40,000 38,680 0 0 0
Total Expenses $4,734,927 $9,869,731 $3,775,819 $3,645,643 $3,442,690
1/17/2019
ylie cono ic I eve op ent Corporation
E •
TO: WEDC Board of Directors
FROM: Samuel Satterwhite, Executive Director
SUBJECT: Staff Report
DATE: January 18, 2019
Issue
Staff report: review issues surrounding WEDC Performance Agreement summary, Hotel
Occupancy Tax, Environmental Activity Summary, Active Project Summary, and Regional
Housing Starts.
Analysis
As a reminder to Board members, the Board may not discuss an item which is not specifically
identified on the agenda. Only those items listed above can be discussed. Should any Board
member desire that an issue be placed on the agenda at any time prior to a Board meeting, WEDC
President or staff can be contacted, or a request can be made during the Discussion Item below.
WEDC Peribrrnanee Agreement Summary
Attached for the Board's review is a summary of all outstanding Performance Agreements
including: B&B Theatres Operating Company, Carrie Elle, Clark Street Development, Cross
Development, DANK Real Estate, DCU, Exco Extrusion Dies, Hooper-Woodbridge, MIKTEN,
Rocking M, SAF Holland, SCSD-Finnell, Taylor& Son, and Woodbridge Crossing.
Woodbridge Crossing
Attached for the Board's review is the Sales Tax Reimbursement Report which identifies all sales
taxes received through December 2018 within Woodbridge Crossing for the City General Fund,
the WEDC, and the 4B. As a reminder, the City and WEDC reimbursed 85% of all sales tax
generated within Woodbridge Crossing through September 2013 with the reimbursement
percentage reduced to 65% thereafter. Due to the default under the Amended and Restated
Performance Agreement, Woodbridge Crossing is only eligible to receive up to$6 million in sales
tax reimbursement through September 2021 as opposed to the maximum reimbursement of$12
million originally contemplated.
$5,454,060.84 in reimbursements has been earned through December 2018 with net receipts of
$4,755,027.52 after reimbursements. As well, it is estimated that $5.2 mm has been paid in ad
valorem taxes to the City of Wylie(excluding the WISD) for a total of$10 mm in tax revenue, net
of reimbursements, since October 2009. As shown on the Sales Tax Reimbursement Report,
WEDC- Staff Report
January 18, 2019
Page 2 of 3
$136,917.92 was generated in sales tax in October 2018 versus $94,985.80 in October 2017. This
represents a 44.15% increase over 2017 receipts.
It is estimated that the City of Wylie and WEDC financial obligations to the Woodbridge Crossing
project will conclude on or about June 2019. The annual budgetary impact will be a decrease in
expenses of approximately $500,000 to the City and $250,000 to the WEDC.
2018 valuations within Woodbridge Crossing are at $73.7 mm with a 5.25% gain over 2017.
Woodbridge Centre
Within the Kroger-anchored center, $14,254.24 in sales tax was generated in October 2018 with
$3,563.56 subject to reimbursement. October 2018 sales represents a 53% increase over the same
period in 2017. There is no new activity to report other than the Burgerim concept which has been
previously discussed.
Environmental Activity Summary
Attached for the Board's review is a spreadsheet tracking all active remediation projects with
W&M Environmental. Previous reports detailed all projects with W&M dating back to February
2015. While staff will maintain these records so as to provide a clear understanding of what it
took to remediate multiple projects over the years, the Board will only be provided with updates
on active projects.
Hotel Occupancy Tax
No additional Hotel Occupancy Taxes were received in December.
Active Project Summary
New Projects (past 45 days)
Industrial/flex space small tract being developed, 6,000 sf planning phase
Industrial/flex space small tract being evaluated, 8,000-10,000 sf
Industrial/flex space large tract under contract, due diligence phase
Industrial/flex space small tract being developed, planning phase
Local Manufacturer Retention project $10 - $20 mm equip/technology upgrade
Local Manufacturer Retention project New building (2nd Wylie facility) under contract to
address growth, 50 retained jobs, 15 —20 new jobs
Restaurant Inquiries 4 national full-service, 4 national fast-casual, 1
property assemblage for multi-tenant project
Ongoing Projects
Sargent Spec Bldg. 11,940 sf, $1.2 mm invest., App for CO/tenant
finish-out at City, 2 of 3 units leased.
Deanan 10,140 sf expansion, 1.1 mm invest., 8 new jobs,
under construction.
WEDC- Staff Report
January 18, 2019
Page 3 of 3
Lanman Medical 5,552 sf, $829,000 invest., 50% leased.
Brookshires Bldg. *Contract Pending—multiple users interested.
Re 7ional liousin Staris
Sixteen homes were permitted in Wylie for the month of December 2018. Sachse, Murphy and
Lavon permitted a combined eight with Inspiration permitting nine new homes. It was discovered
that the number provided for the January 2018 Wylie Housing counts was for Single Family
Attached Build rather than Single Family New Build. The number has been updated from 4 to 41
bringing the total 2018 new housing permits for Wylie to 531, or a 4.7% gain over 2017.
No action is requested by staff for this item.
Attachments
Performance Agreement Summary
Environmental Activity Report
Hotel Occupancy Tax Report
Regional Housing Permits
Woodbridge Crossing
Sales Tax Reimbursement Report
Filing Allocation City of 4B WEDC Applicable WEDC City Total
Period Period Wylie(1%) (0.5%) (0.5%) Total Rate (%) Reimbursement Reimbursement Reimbursement
Oct-09 Dec-09 $17,612.55 $8,806.27 $8,806.27 $35,225.09 0.85 7,485.33 $14,970.66 $22,455.99
Nov-09 Jan-10 21,995.30 10,997.65 10,997.65 43,990.60 0.85 9,348.00 18,696.01 28,044.01
Dec-09 Feb-10 40,289.26 20,144.63 20,144.63 80,578.52 0.85 17,122.94 34,245.87 51,368.81
Sub-Total 159,794.21 33,956.27 67,912.54 101,868.81
Jan-10 Mar-10 16,017.96 8,008.98 8,008.98 32,035.92 0.85 6,807.63 13,615.27 20,422.90
Feb-10 Apr-10 18,392.59 9,196.29 9,196.29 36,785.17 0.85 7,816.85 15,633.70 23,450.55
Mar-10 May-10 24,382.07 12,191.03 12,191.03 48,764.13 0.85 10,362.38 20,724.76 31,087.13
Sub-Total 117,585.22 24,986.86 49,973.72 74,960.58
Apr-10 Jun-10 16,991.53 8,495.76 8,495.76 33,983.05 0.85 7,221.40 14,442.80 21,664.19
May-10 Jul-10 19,588.24 9,794.12 9,794.12 39,176.48 0.85 8,325.00 16,650.00 24,975.01
Jun-10 Aug-10 24,662.64 12,331.32 12,331.32 49,325.28 0.85 10,481.62 20,963.24 31,444.87
Sub-Total 122,484.81 26,028.02 52,056.04 78,084.07
Jul-10 Sep-10 18,344.56 9,172.28 9,172.28 36,689.12 0.85 7,796.44 15,592.88 23,389.31
Aug-10 Oct-10 20,401.73 10,200.87 10,200.87 40,803.46 0.85 8,670.74 17,341.47 26,012.21
Sep-10 Nov-10 22,301.22 11,150.61 11,150.61 44,602.43 0.85 9,478.02 18,956.03 28,434.05
Sub-Total 122,095.01" 25,945.19 51,890.38 77,835.57
Oct-10 Dec-10 18,800.19 9,400.10 9,400.10 37,600.38 0.85 7,990.08 15,980.16 23,970.24
Nov-10 Jan-11 25,735.09 12,867.54 12,867.54 51,470.17 0.85 10,937.41 21,874.82 32,812.23
Dec-10 Feb-11 42,668.92 21,334.46 21,334.46 85,337.83 0.85 18,134.29 36,268.58 54,402.87
Audit Adjust.
Oct-10 5,065.71 2,532.86 2,532.86 10,131.42 0.85 2,152.93 4,305.85 6,458.78
Sub-Total 184,539.80 39,214.71 78,429.42 117,644.12
Jan-11 Mar-11 18,295.33 9,147.66 9,147.66 36,590.65 0.85 7,775.51 15,551.03 23,326.54
Feb-11 Apr-11 25,185.02 12,592.51 12,592.51 50,370.04 0.85 10,703.63 21,407.27 32,110.90
Mar-11 May-11 39,822.31 19,911.15 19,911.15 79,644.61 0.85 16,924.48 33,848.96 50,773.44
Sub-Total 166,605.30 35,403.63 70,807.25 106,210.88
Apr-11 Jun-11 33,456.49 16,728.25 16,728.25 66,912.98 0.85 14,219.01 28,438.02 42,657.02
May-11 Jul-11 50,192.64 25,096.32 25,096.32 100,385.28 0.85 21,331.87 42,663.74 63,995.62
Jun-11 Aug-11 43,639.11 21,819.56 21,819.56 87,278.22 0.85 18,546.62 37,093.24 55,639.87
Woodbridge Crossing
Sales Tax Reimbursement Report
Page 2
Filing Allocation City of 4B WEDC Applicable WEDC City Total
Period Period Wylie (1%) (0.5%) (0.5%) Total Rate (%) Reimbursement Reimbursement Reimbursement
Sub-Total 254,576.48 54,097.50 108,195.00 162,292.51
Jul-11 Sep-11 31,551.34 15,775.67 15,775.67 63,102.67 0.85 13,409.32 26,818.63 40,227.95
Aug-11 Oct-11 32,798.19 16,399.09 16,399.09 65,596.37 0.85 13,939.23 27,878.46 41,817.69
Sep-11 Nov-11 36,136.64 18,068.32 18,068.32 72,273.27 0.85 15,358.07 30,716.14 46,074.21
Sub-Total 200,972.31 42,706.62 85,413.23 128,119.85
Oct-11 Dec-11 31,701.68 15,850.84 15,850.84 63,403.35 0.85 13,473.21 26,946.42 40,419.64
Nov-11 Jan-12 40,631.94 20,315.97 20,315.97 81,263.88 0.85 17,268.57 34,537.15 51,805.72
Dec-11 Feb-12 66,403.17 33,201.59 33,201.59 132,806.34 0.85 28,221.35 56,442.69 84,664.04
Sub-Total 277,473.57 58,963.13 117,926.27 176,889.40
Jan-12 Mar-12 28,180.49 14,090.24 14,090.24 56,360.97 0.85 11,976.71 23,953.41 35,930.12
Feb-12 Apr-12 32,824.36 16,412.18 16,412.18 65,648.71 0.85 13,950.35 27,900.70 41,851.05
Mar-12 May-12 42,213.75 21,106.88 21,106.88 84,427.50 0.85 17,940.84 35,881.69 53,822.53
Sub-Total 206,437.18 43,867.90 87,735.80 131,603.70
Apr-12 Jun-12 33,749.69 16,874.85 16,874.85 67,499.38 0.85 14,343.62 28,687.24 43,030.85
May-12 Jul-12 35,756.08 17,878.04 17,878.04 71,512.15 0.85 15,196.33 30,392.66 45,589.00
Jun-12 Aug-12 43,423.09 21,711.55 21,711.55 86,846.18 0.85 18,454.81 36,909.63 55,364.44
Sub-Total 225,857.71 47,994.76 95,989.53 143,984.29
Jul-12 Sep-12 32,945.51 16,472.76 16,472.76 65,891.02 0.85 14,001.84 28,003.68 42,005.53
Aug-12 Oct-12 33,981.49 16,990.74 16,990.74 67,962.97 0.85 14,442.13 28,884.26 43,326.39
Sep-12 Nov-12 39,669.19 19,834.60 19,834.60 79,338.38 0.85 16,859.41 33,718.81 50,578.22
Sub-Total 213,192.37 45,303.38 90,606.76 135,910.14
Oct-12 Dec-12 61,352.09 30,676.05 30,676.05 122,704.18 0.85 26,074.64 52,149.28 78,223.91
Nov-12 Jan-13 13,760.37 6,880.18 6,880.18 27,520.73 0.85 5,848.16 11,696.31 17,544.47
Dec-12 Feb-13 68,951.35 34,475.67 34,475.67 137,902.69 0.85 29,304.32 58,608.64 87,912.96
Sub-Total 288,127.60 61,227.11 122,454.23 183,681.35
Jan-13 Mar-13 37,264.78 18,632.39 18,632.39 74,529.55 0.85 15,837.53 31,675.06 47,512.59
Feb-13 Apr-13 32,499.58 16,249.79 16,249.79 64,999.15 0.85 13,812.32 27,624.64 41,436.96
Mar-13 May-13 42,416.25 21,208.13 21,208.13 84,832.50 0.85 18,026.91 36,053.81 54,080.72
Sub-Total 224,361.20 47,676.76 95,353.51 143,030.27
Apr-13 Jun-13 31,950.38 15,975.19 15,975.19 63,900.76 0.85 13,578.91 27,157.82 40,736.73
Woodbridge Crossing
Sales Tax Reimbursement Report
Page
Filing Allocation City of 4B VVEOC Applicable VVEOC City Total
Period Period VVv|ie(1 (].596) (O.596) lodo| Raha (96) Reimbursement Reimbursement'Reirnburoennent �
/ May-13 Ju�13 35,623.93
17.811.97 1 ,811.97 71'247.86 0.85 15.140.17 30.280.34 45.430.51
Jun-13 Aug-13 44.805.27 22.402.63 22.402.03 86[61853 O�85 19.O42�24 38.O84�48 57.12O71
_ . �
Sub-Total 22475915 47,701.32 95,52204 14328396
Jul-13 Sep-13 30.171.84 15.085.97 15.085.97 60,34387 0.85 12.823.07 25.646.14 38.469.22
Aug-13 Oct-13 31.615.58 15.807.80 15.807.80 63,231.18 0.85 13.436.63 26.873.25 40.309.88
Sep-13 Nov-13 34,215.75 17.107.88 17.107.88 68,43Y�50 D�85 14.541.89 29.083�39 43.825�O8
� ^
Sub-Total 192,00855 40,801.39 81'60278 122,404.18
Oct-13 Dec-13 30.192.88 15.088.34 15.008.34 60\385.30 0.05 8.812.62 19.625.24 28.437.86
Nov-13 Jon-14 40.050.84 20.020.97 20.029.87 80,119.87 0.85 13.019.48 26.038.06 39.058.44 `
Dec-13 Fab-14 60.106.82 30.853.41 30.053.41 12(l2Y3�63 O�85 1S.534�71 38.069.43 58.804�14
`
Sub-Total 260,71886 42,366.81 84,73303 127,100.44
Jan-14 Mar-14 34.887.18 17.443.59 17.443.59 69'774.35 8.65 11.338.33 22.876.06 34.015.00
Fab-14 Apr-14 39.550.17 19.775.09 19.775.09 79,100.34 0.85 12.853.81 25.707.61 38.561.42
Mar-14 °K8ay-14 50.095.00 25.047.50 25.047.50 YO{\Y98OO O�85 16.28D�G8 32.5G1.75 48.842�G3
^``�..,..... ^
Sub-Total 249'06460 40\473.01 80,946.02 121,419k04
App14 Jun_14 42.838.52 31.418.26 21.418.26 85.673.03 0.65 13.921.87 27.843.73 41.785.60
May-14 Jul-14 44.483.44 22.241.72 22.241.72 88[96(188 0.85 14.457.12 28.914.24 43.371.35
Jun-14 Aug-14 54.191.06 27.095.53 27.095.53 1O8'38�Y2 O�O5 17.S12�OQ 35.224�19 52.836.28
~ -
Sub-Total 28I022.03 45,991.08 91'98210 137,973.24
Jul-14 Sep-14 41.601.13 20.000.56 20.800.56 83,202.25 0.65 13.520.37 27.040.73 40.561.10
Aug-1 4 Oct-14 40.838.76 23.419.38 23.418.38 93.677.52 0.65 15.222.60 30.445.19 45.667.79
Sep-14 Nov-14 58.574.10 29.287.05 20.287.05 117,14819 O�S5 18.O3O�58 30.073.16 57.100.74
' ' Q
Sub-Total 2Q40279O 47,779.54 8����9�00 143,338.63
Oct-14 Dec-14 46.397.97 23.108.98 23.198.98 92,795.83 0.65 15,070.34 30,150.08 45,23802
Nov-14 Jan-15 62.438.87 31.219.43 31.310.43 134'87773 0.65 20,203.63 40,585.20 00\87789
Dec-14 Feb-15 93.018.09 46.508.54 46.509.54 186'038.17 0.85 30,231.20 80,462.41 90,693.81
Sub-Total 40I7/1.83 6/I803.17 131'30634 - 196,809.52
Jan-15 Mar-15 42.918.35 21.458.87 21.459.67 85,838.69 0.65 13.94879 27,89757- 41'846.36
Fob-15 Apr-15 44.29971 22.148.88 22.149.86 88L589.42 0.65 14[39741 28,79481 43,192.22
yWap15 May-15 81.991.88 30.985.84 30.895.84 123,983.70 0.85 20,14738 40,294.72 60,442.08
Woodbridge Crossing
Sales Tax Reimbursement Report
Page 4
Filing Allocation City of 4B WEDC Applicable WEDC City Total
Period Period Wylie(1%) (0.5%) (0.5%) Total Rate (%) Reimbursement Reimbursement Reimbursement
Sub-Total 298,421.87 48,493.55 96,987.11 145,480.66
Apr-15 Jun-15 47,156.82 23,578.41 23,578.41 94,313.63 0.65 15,325.96 30,651.93 45,977.89
May-15 Jul-15 51,820.00 25,910.00 25,910.00 103,639.99 0.65 16,841.50 33,683.00 50,524.50
Jun-15 Aug-15 63,530.67 31,765.34 31,765.34 127,061.34 0.65 20,647.47 41,294.94 61,942.40
Sub-Total 325,014.96 52,814.93 105,629.86 158,444.79
Jul-15 Sep-15 49,814.04 24,907.02 24,907.02 99,628.08 0.65 16,189.56 32,379.13 48,568.69
Aug-15 Oct-15 52,333.38 26,166.69 26,166.69 104,666.76 0.65 17,008.35 34,016.70 51,025.05
Sep-15 Nov-15 54,260.52 27,130.26 27,130.26 108,521.03 0.65 17,634.67 35,269.33 52,904.00
312,815.87 50,832.58 101,665.16 152,497.74
Oct-15 Dec-15 48,763.81 24,381.90 24,381.90 97,527.61 0.65 15,848.24 31,696.47 47,544.71
Nov-15 Jan-16 63,303.62 31,651.81 31,651.81 126,607.23 0.65 20,573.67 41,147.35 61,721.02
Dec-15 Feb-16 99,187.99 49,594.00 49,594.00 198,375.98 0.65 32,236.10 64,472.19 96,708.29
422,510.82 68,658.01 137,316.02 205,974.02
Jan-16 Mar-16 49,991.19 24,995.59 24,995.59 99,982.37 0.65 16,247.14 32,494.27 48,741.41
Feb-16 Apr-16 42,000.94 21,000.47 21,000.47 84,001.87 0.65 13,650.30 27,300.61 40,950.91
Mar-16 May-16 63,385.72 31,692.86 31,692.86 126,771.44 0.65 20,600.36 41,200.72 61,801.08
310,755.68 50,497.80 100,995.60 151,493.39
Apr-16 Jun-16 50,205.20 25,102.60 25,102.60 100,410.40 0.65 16,316.69 32,633.38 48,950.07
May-16 Jul-16 55,183.98 27,591.99 27,591.99 110,367.95 0.65 17,934.79 35,869.58 53,804.38
Jun-16 Aug-16 75,925.05 37,962.53 37,962.53 151,850.10 0.65 24,675.64 49,351.28 74,026.92
362,628.45 58,927.12 117,854.25 176,781.37
Jul-16 Sep-16 46,925.74 23,462.87 23,462.87 93,851.48 0.65 15,250.87 30,501.73 45,752.60
Aug-16 Oct-16 63,826.65 31,913.33 31,913.33 127,653.30 0.65 20,743.66 41,487.32 62,230.98
Sep-16 Nov-16 59,856.95 29,928.48 29,928.48 119,713.90 0.65 19,453.51 38,907.02 58,360.53
341,218.68 55,448.04 110,896.07 166,344.11
Oct-16 Dec-16 52,217.94 26,108.97 26,108.97 104,435.88 0.65 16,970.83 33,941.66 50,912.49
Nov-16 Jan-17 71,458.61 35,729.30 35,729.30 142,917.21 0.65 23,224.05 46,448.09 69,672.14
Dec-16 Feb-17 92,409.12 46,204.56 46,204.56 184,818.23 0.65 30,032.96 60,065.92 90,098.89
432,171.32 70,227.84 140,455.68 210,683.52
Jan-17 Mar-17 50,495.21 25,247.60 25,247.60 100,990.41 0.65 16,410.94 32,821.88 49,232.82
Woodbridge Crossing
Sales Tax Reimbursement Report
Page 5
Filing Allocation City of 4B WEDC Applicable WEDC City Total
Period Period Wylie (1%) (0.5%) (0.5%) Total Rate(%) Reimbursement Reimbursement Reimbursement
Feb-17 Apr-17 50,638.18 25,319.09 25,319.09 101,276.35 0.65 16,457.41 32,914.81 49,372.22
Mar-17 May-17 61,943.65 30,971.83 30,971.83 123,887.30 0.65 20,131.69 40,263.37 60,395.06
326,154.06 53,000.03 106,000.07 159,000.10
Apr-17 Jun-17 49,482.64 24,741.32 24,741.32 98,965.28 0.65 16,081.86 32,163.72 48,245.57
May-17 Jul-17 59,698.44 29,849.22 29,849.22 119,396.87 0.65 19,401.99 38,803.98 58,205.97
Jun-17 Aug-17 78,250.78 39,125.39 39,125.39 156,501.55 0.65 25,431.50 50,863.00 76,294.51
374,863.70 60,915.35 121,830.70 182,746.05
Jul-17 Sep-17 47,207.44 23,603.72 23,603.72 94,414.88 0.65 15,342.42 30,684.84 46,027.25
Aug-17 Oct-17 57,759.81 28,879.91 28,879.91 115,519.62 0.65 18,771.94 37,543.88 56,315.81
Sep-17 Nov-17 68,437.68 34,218.84 34,218.84 136,875.36 0.65 22,242.25 44,484.49 66,726.74
346,809.86 56,356.60 112,713.20 169,069.81
Oct-17 Dec-17 47,492.90 23,746.45 23,746.45 94,985.80 0.65 15,435.19 30,870.39 46,305.58
Nov-17 Jan-18 69,316.04 34,658.02 34,658.02 138,632.07 0.65 22,527.71 45,055.42 67,583.13
Dec-17 Feb-18 108,901.17 54,450.58 54,450.58 217,802.33 0.65 35,392.88 70,785.76 106,178.64
451,420.20 73,355.78 146,711.57 220,067.35
Jan-18 Mar-18 53,776.06 26,888.03 26,888.03 107,552.12 0.65 17,477.22 34,954.44 52,431.66
Feb-18 Apr-18 51,358.31 25,679.16 25,679.16 102,716.62 0.65 16,691.45 33,382.90 50,074.35
Mar-18 May-18 69,735.56 34,867.78 34,867.78 139,471.11 0.65 22,664.06 45,328.11 67,992.17
349,739.85 56,832.73 113,665.45 170,498.18
Apr-18 Jun-18 53,783.30 26,891.65 26,891.65 107,566.59 0.65 17,479.57 34,959.14 52,438.71
May-18 Jul-18 62,703.17 31,351.58 31,351.58 125,406.33 0.65 20,378.53 40,757.06 61,135.59
Jun-18 Aug-18 72,473.68 36,236.84 36,236.84 144,947.35 0.65 23,553.94 47,107.89 70,661.83
377,920.27 61,412.04 122,824.09 184,236.13
Jul-18 Sep-18 59,955.26 29,977.63 29,977.63 119,910.51 0.65 19,485.46 38,970.92 58,456.37
Aug-18 Oct-18 58,416.62 29,208.31 29,208.31 116,833.24 0.65 18,985.40 37,970.80 56,956.20
Sep-18 Nov-18 65,783.63 32,891.82 32,891.82 131,567.26 0.65 21,379.68 42,759.36 64,139.04
368,311.01 59,850.54 119,701.08 179,551.62
Oct-19 Dec-18! 68,458.96 34,229.48 34,229.48 136,917.92 0.65 22,249.16 44,498.32 66,747.49
Nov-19 Jan-19 0.00 0.00 0.00 0.65 0.00 0.00 0.00
Dec-19 Feb-19 0.00 0.00 0.00 0.65 0.00 0.00 0.00
Woodbridge Crossing
Sales Tax Reimbursement Report
Page 6
Filing Allocation City of 4B WEDC Applicable WEDC City Total
Period Period Wylie (1%) (0.5%) (0.5%) Total Rate (%) Reimbursement Reimbursement Reimbursement
136,917.92 22,249.16 44,498.32 66,747.49
Totals 10,209,088.36 1,818,020.28 3,636,040.56 5,454,060.84
CSD Woodbridge Centre-Sales Tax Reimbursement Report
Filing Allocation City 4B WEDC WEDC
Period Period 1.00% 0.50% 0.50% Total Reimbursement
Jan-14 Mar-14 $500.33 $250.17 $250.17 $1,000.66 $250.17
Sub-Total 1,000.66 250.17
Feb-14 Apr-14 608.31 304.16 304.16 1,216.62 304.16
Mar-14 May-14 819.13 409.57 409.57 1,638.26 409.57
Apr-14 Jun-14 1,474.84 737.42 737.42 2,949.67 737.42
Sub-Total 5,804.55 1,451.14
May-14 Jul-14 1,856.70 928.35 928.35 3,713.39 928.35
Jun-14 Aug-14 25,686.18 12,843.09 12,843.09 51,372.36 12,843.09
Jul-14 Sep-14 1,482.27 741.14 741.14 2,964.54 741.14
Sub-Total 58,050.29 14,512.57
Aug-14 Oct-14 1,927.17 963.59 963.59 3,854.34 $963.59
Sep-14 Nov-14 32,934.65 16,467.32 16,467.32 65,869.29 16,467.32
Oct-14 Dec-14 1,998.92 999.46 999.46 3,997.84 999.46
Sub-Total 73,721.47 18,430.37
Nov-14 Jan-15 2,885.15 1,442.58 1,442.58 5,770.30 1,442.58
Dec-14 Feb-15 29,624.02 14,812.01 14,812.01 $59,248.04 $14,812.01
Jan-15 Mar-15 6,488.22 3,244.11 3,244.11 $12,976.44 $3,244.11
Sub-Total $77,994.78 $19,498.70
Feb-15 Apr-15 5,694.92 2,847.46 2,847.46 11,389.83 2,847.46
Mar-15 May-15 31,176.75 15,588.37 15,588.37 $62,353.49 $15,588.37
Apr-15 Jun-15 5,390.41 2,695.20 2,695.20 $10,780.81 $2,695.20
Sub-Total $84,524.13 $21,131.03
May-15 Jul-15 6,467.00 3,233.50 3,233.50 12,934.00 3,233.50
Jun-15 Aug-15 32,110.31 16,055.16 16,055.16 $64,220.62 $16,055.16
Jul-15 Sep-15 5,548.58 2,774.29 2,774.29 $11,097.15 $2,774.29
Sub-Total $88,251.77 $22,062.94
Aug-15 Oct-15 5,683.49 2,841.74 2,841.74 11,366.97 2,841.74
Sep-15 Nov-15 41,414.13 20,707.06 20,707.06 $82,828.25 $20,707.06
Oct-15 Dec-15 6,007.81 3,003.91 3,003.91 $12,015.62 $3,003.91
Sub-Total $106,210.84 $26,552.71
Nov-15 Jan-16 6,246.73 3,123.36 3,123.36 12,493.45 3,123.36
Dec-15 Feb-16 38,577.49 19,288.74 19,288.74 $77,154.97 $19,288.74
Jan-16 Mar-16 5,383.48 2,691.74 2,691.74 $10,766.95 $2,691.74
CSD Woodbridge Centre-Sales Tax Reimbursement Report
Sub-Total $100,415.37 $25,103.84
Feb-16 Apr-16 5,556.02 2,778.01 2,778.01 11,112.03 2,778.01
Mar-16 May-16 35,400.22 17,700.11 17,700.11 $70,800.43 $17,700.11
Apr-16 Jun-16 5,929.35 2,964.67 2,964.67 $11,858.69 $2,964.67
Sub-Total $93,771.15 $23,442.79
May-16 Jul-16 5,622.45 2,811.22 2,811.22 11,244.89 2,811.22
Jun-16 Aug-16 36,078.78 18,039.39 18,039.39 $72,157.55 $18,039.39
Jul-16 Sep-16 5,553.88 2,776.94 2,776.94 $11,107.76 $2,776.94
Sub-Total $94,510.20 $23,627.55
Aug-16 Oct-16 5,386.52 2,693.26 2,693.26 $10,773.03 2,693.26
Sep-16 Nov-16 45,851.97 22,925.99 22,925.99 $91,703.94 $22,925.99
Oct-16 Dec-16 5,712.60 2,856.30 2,856.30 $11,425.19 $2,856.30
Sub-Total $113,902.16 $28,475.54
Nov-16 Jan-17 5,534.56 2,767.28 2,767.28 $11,069.11 2,767.28
Dec-16 Feb-17 39,832.46 19,916.23 19,916.23 $79,664.92 $19,916.23
Jan-17 Mar-17 5,210.39 2,605.20 2,605.20 $10,420.78 $2,605.20
Sub-Total $101,154.81 $25,288.70
Feb-17 Apr-17 5,350.85 2,675.42 2,675.42 $10,701.69 2,675.42
Mar-17 May-17 35,935.03 17,967.52 17,967.52 $71,870.06 $17,967.52
Apr-17 Jun-17 5,446.64 2,723.32 2,723.32 $10,893.27 $2,723.32
Sub-Total $93,465.02 $23,366.26
May-17 Jul-17 6,978.40 3,489.20 3,489.20 $13,956.79 3,489.20
Jun-17 Aug-17 35,612.74 17,806.37 17,806.37 $71,225.48 $17,806.37
Jul-17 Sep-17 5,225.94 2,612.97 2,612.97 $10,451.87 $2,612.97
Sub-Total $95,634.14 $23,908.54
Aug-17 Oct-17 5,692.90 2,846.45 2,846.45 $11,385.79 2,846.45
Sep-17 Nov-17 46,321.69 23,160.85 23,160.85 $92,643.38 $23,160.85
Oct-17 Dec-17 4,662.38 2,331.19 2,331.19 $9,324.76 $2,331.19
Sub-Total $113,353.93 $28,338.48
Nov-18 Jan-18 6,690.47 3,345.23 3,345.23 $13,380.93 3,345.23
Dec-18 Feb-18 46,316.53 23,158.26 23,158.26 $92,633.05 $23,158.26
Jan-18 Mar-18 5,988.51 2,994.26 2,994.26 $11,977.02 $2,994.26
Sub-Total $117,991.00 $29,497.75
Feb-18 Apr-18 6,805.46 3,402.73 3,402.73 $13,610.91 3,402.73
Mar-18 May-18 41,994.46 20,997.23 20,997.23 $83,988.92 $20,997.23
CSD Woodbridge Centre-Sales Tax Reimbursement Report
Apr-18 Jun-18 6,947.44 3,473.72 3,473.72 $13,894.87 $3,473.72
Sub-Total $111,494.70 $27,873.68
May-18 Jul-18 7,458.58 3,729.29 3,729.29 $14,917.16 3,729.29
Jun-18 Aug-18 40,091.04 20,045.52 20,045.52 $80,182.08 $20,045.52
Jul-18 Sep-18 6,796.04 3,398.02 3,398.02 $13,592.07 $3,398.02
Sub-Total $108,691.31 $27,172.83
Aug-18 Oct-18 7,102.43 3,551.21 3,551.21 $14,204.85 3,551.21
Sep-18 Nov-18 49,320.18 24,660.09 24,660.09 $98,640.36 $24,660.09
Oct-18 Dec-18 7,127.12 3,563.56 3,563.56 $14,254.24' $3,563.56
Sub-Total $127,099.45 $31,774.86
Total $1,767,041.73 $441,760.43
Note: Anticipated completion date for the$1 mm sales tax incentive obligation is 9/30/23.
Active Environmental Program Tracking
Kirby - Former CRI Project Total: 64,206.20
Contract$104,200 910.00 11/30/17 Labor: Frank Clark, Michael Henn
788.00 12/31/17 Labor: Frank Clark, Clay Snider
Labor: Frank Clark, Michael Henn,Joshua Hopper, Samuel Lewis,
6,421.80 ; 1/31/18 Trey Nelson, Clay Snider
Other Subcontractors: Laboratory, Supplies/Permits, Other
14,442.16 = 1/31/18 Subcontractors
11.16 1/31/18 Misc.Supplies
659.50 1/31/18 Vehicle / Equipment
Labor: Frank Clark,Trudy Hasan,Joshua Hopper,Samuel Lewis, Clay
2,005.30 < 2/28/18 'Snider
874.00 2/28/18 Laboratory
519.50 3/31/18 Labor: Trey Nelson, Clay Snider
1,824.00 4/30/18 Subsurface Investigation -Labor: Clay Snider
Add'I Subsurface Investigation- Labor: Frank Clark,Joshua Hooper,
3,815.75 4/30/18 !Samuel Lewis,James Maxwell,Trey Nelson, Clay Snider
;Subcontractors: Laboratory-$989; Drilling-$6,463;
12,385.33 4/30/18 Supplies/Permits/Regulatory Fees-$103.33; Other-4,830.
528.88 4/30/18 Vehicle /Equipment
Subsurface Investigation -Labor: Clay Snider, Samuel Lewis,Joshua
1,236.50 5/31/18 'Harper, Frank Clark
264.50 5/31/18 Add'l Subsurface Investigation-Subcontractors: Laboratory
406.50 7/31/18 MSD- Project Management- Labor: Frank Clark, Clay Snider
648.50 7/31/18 VCP Application - Labor: Clay Snider, Holly Stockton
429.00 7/31/18 DWS Labor: Trey Nelson, Clay Snider
636.00 7/31/18 1MSD Application- Labor: Joshua Hooper
384.00 8/31/18 MSD- Project Management- Labor: Clay Snider
165.90 8/31/18 VCP Application - Labor: Frank Clark
212.00 8/31/18 DWS Labor: Joshua Hooper
2,539.50 8/31/18 MSD Application - Labor: Joshua Hooper,Samuel Lewis, Clay Snider
MSD Application Sub-contractors: Laboratory,Aerials/Maps/
2,052.91 8/31/18[ Photos
Active Environmental Program Tracking
418.35 9/30/18 MSD-Project Management- Labor: Clay Snider
749.60 ' 9/30/18 VCP Application- Labor: Frank Clark, Antonia Pachlczuk,Clay Snider
128.00 9/30/18 DWS Labor: Clay Snider
MSD Application- Labor: Joshua Hooper, Samuel Lewis,James
2,878.50 ' 9/30/18 Maxwell,Trey Nelson, Clay Snider
58,967.14 Starting Point 632.00 9/30/18 APAR Labor: Trey Nelson
888.00 11/3/18 MSD-Project Management- Labor: Clay Snider
VCP Application - Labor: Clay Snider-$259; Overnight courier-
1,438.86 11/3/18 $29.86;TCEQ Application Fee-$1,150
189.50 11/3/18 MSD Application- Labor: Trey Nelson,Joshua Hooper
360.00 12/7/18 MSD Project Management
10.80 12/7/18 VCP Application &Agreement
2,351.90 12/7/18 Prepare MSD Application
64,206.20
Spent Contracted
Total
Expenditures: $64,206.20 $104,200
Outstanding Performance Agreement Summary
Company Performance Obligations Expiration Incentive Comment/Notes
B&B Theatres Phase I -CO 56,000 sf, 12 screen theater;
documentation of$600,000; documentation of
total expend.for land, improvements and personal
'property of$10,000,000. 12/31/2013 $100,000 Paid
Cumulative valuation amended to$7,300,000. 12/31/20141 $25,000 Paid
12/31/2015 $25,000 Paid
12/31/2016 $25,000 Paid
12/31/2017 $25,000 Paid
12/31/2018 $25,000
Total Incentive not to
B&B Theatres Sales Tax Reimb. ;Only Sales Tax reimbursement equal to .005 12-181 Annually exceed $600,000
Carrie Elle
Receipt of documentation of minimum project
:cost of$15,000 for the purchase of new
equipment; current on ad valorem taxes. 1/31/2019 $2,500 : Paid
Receipt of documentation evidencing ongoing
operations at 311 N. Ballard; current on ad
;valorem taxes. t 1/31/20201 $2,500
Cross Development Purchase and take title to the property by
3/20/18. 3/20/2018 Complete
Commence construction of multifamily units by
8/1/18. 8/1/2018 Complete
Complete construction of retail space and at least
3,200 sf of restaurant space and obtain COC by
9/1/20. 9/1/2020
Provide documentation to WEDC evidencing:
Construction costs for Phase One of$32mm;
property south of Explorer Pipeline is accessible to
'vehicular traffic; $250,000 in expenditure for
iqualified infrastructure; 9/1/2020
Outstanding Performance Agreement Summary
Documentation to City confirming i) Completion
of removal/remediation ii) Company expended an
amount greater than or equal to minimum
removal expenditure ($500,000). ;' 9/1/2020 $250,000
CSD Woodbridge Phase I -Acquire property for 110,000 sf Kroger by
7/31/2016; CO by 3/31/2014 3/31/2014 $100,000 Paid
Phase II -CO for 120,600 sf retail space Sales tax
(completed) 3/31/2014 reimburse quarterly
Phase III -CO for 127,600 sf retail space Sales tax
(completed) 3/31/2017 reimburse quarterly
Sales tax
reimburse
ending earlier
of $1.1 mm
paid or 10 Cumulative incentive not
years from to exceed $1.1 mm.
Phase IV-CO for 134,600 sf retail space Start Date Reimbursement
(completed) 3/31/2019 (9/15/23).; spreadsheet attached.
Dank Real Estate-2
la. Documentation of company's application for
CO for a 10,140 sf expansion at 216 Windco Cir.;
permit fee receipt for not less than $15,600
(overage to be paid by WEDC), documentation for
`construction costs of$1,500,000; current on ad
valorem taxes;verification of employment of 25
"full time employees as of 10/25/17. 7/31/2019 $15,600
lb. CO for a 10,140 sf expansion at 216 Windco
Cir. 7/31/2019 $21,500
Outstanding Performance Agreement Summary
2. Minimum valuation of$2,100,000 for real and
personal property at 216 Windco Cir.; current on
ad valorem taxes; ongoing operations of Deanan
Popcorn at facility; employment verification of 29
full-time employees. 7/31/2020 $22,9001
3. Minimum valuation of$2,100,000 for real and
personal property at 216 Windco Cir.; current on
'ad valorem taxes; ongoing operations of Deanan
Popcorn at facility; employment verification of 33
full-time employees. 7/31/2021 23,000
DCU, Inc. 1. a. 1. Documentation supporting application to
City of Wylie for a CO for a 11,200 sq ft facility
located at 2774 Capital; 2. permit fee receipt from
City of Wylie for not less than $31,534; 3.
documentation supporting construction cost of
$700,000; 4. documentation supporting an
executed contract of not less than $39,885 to
extend a gas line 725 feet to the easternmost
property line of lot located at 2774 Capital Street;
5. current on ad valorem taxes. Paid City of Wylie
8/1/2018 $31,534 $24,545.13
1.b. 1. Certificate of Occupancy, 11,200 Sq ft $51,324 --
building; 2. receipt of documentation supporting $19,311 paid
construction of a gas line at the easternmost to Company;
property line at a cost of not less than $39,885; $32,013 paid
3. letter from Atmos Energy asserting that to Company's
improvements installed to Atmos standards and Utility
available to other customers. 8/1/2018 Contractor Paid
Outstanding Performance Agreement Summary
2. Minimum valuation of$1,200,000 for real and
personal Property; current on ad valorem taxes,
continuous operations at 2774 Capital. 8/1/2019 $12,500
3. Minimum valuation of$1,200,000 for real and
personal Property; current on ad valorem taxes,
continuous operations at 2774 Capital.Added to
this payment is the fee diference from Incentive
1of 4 in the amount of$6.988.80. 8/1/2020 $19,488.80
Exco Extrusion Dies(Texas),Inc. A. CO on 30,000 sf building 2/24/2016 $87,000 Paid
B. On an annual basis maintain appraised value of
$7.55 mm, maintain Texas as principal place of
business, employ 20 full time employees 2/24/2017 $20,000 Paid
2/24/2018 $20,000 Paid
2/24/2019 $20,000
2/24/2020 $20,000
Seller financing on $350,000 note,forgiven
annually beginning 1-31-17 in equal amounts of Forgiveness#1-2-24-17
$70,000 for 5 years. 2017-2021 $350,000 ` Forgiveness#2-2-24-18
Hooper Woodbridge II 1. Building permit for no less than 5,500 sf
medical office building; and 6/1/2018 Complete
2. CC for no less than 5,500 sf medical office
building; and 2/28/2019 Complete
3. CO for no less than 3,200 sf medical office
space 2/28/20191
4. Documentation supporting a minimum project
cost of$750,000; and 2/28/2019
Outstanding Performance Agreement Summary
5. Documentation supporting a minimum cost of
$20,000 for qualified infrastructure
(improvements to water, sewer, storm sewer);
and 2/28/2019
16. Current on all ad valorem taxes and other
property taxes; and 2/28/2019 $20,000
MIKTEN, Inc. A. Construct a 5,970 sf shell commercial building
with a minimum capital investment of$300,000;
receipt of Certificate of Completion; current on ad
valorem taxes as of 1/31 of the year after they are
assessed. 10/31/2018 $10,000 Paid
B. Finish out of 5,970 sf building evidenced by a
Certificate of Occupancy and 100% leased as
evidenced by signed lease agreements. 10/31/2019 $10,000
Rocking M Acquire title to property by March 1, 2019; obtain
building permit by April 1, 2019; Certificate of
Occupancy by April 1, 2020; provide
documentation evidencing$300,000 in
construction costs for facility; provide
documentation evidencing$89,500 in qualified
infrastructure costs. 4/1/2020 $89,500
SAF Holland A. Tax Incentive:
Maintain on property,taxable personal property
owned by company valued at or above 50%of BPP
$14,375,324 (Tax Threshold). tax paid in
l excess of Tax
1/31/2019 Threshold.
'Maintain on property,taxable personal property
owned by company valued at or above
$14,375,324(Tax Threshold). 1/31/2020
Outstanding Performance Agreement Summary
Maintain on property,taxable personal property
owned by company valued at or above
$14,375,324(Tax Threshold). 1/31/2021
B. Employee Incentive:
Employ up to 45 full-time employees over 133
(Employee Threshold). One time payment of $1,000/emp
$1,000 per new employee added. BPP valuation over
requirement waived (first year only). 12/31/2017 Threshold
Employ up to 45 full-time employees over 133 $1,000/emp
(Employee Threshold). One time payment of over
$1,000 per new employee added. 12/31/2018 Threshold
Employ up to 45 full-time employees over 133 $1,000/emp
(Employee Threshold). One time payment of over Not to exceed$45,000
$1,000 per new employee added. 12/31/2019 Threshold 1 total incentive.
SCSD-Finnell Obtain a building permit no later than 12/31/18;
Commence construction of building no later than
1 12/31/18; Obtain CO no later than 8/31/19;
Complete qualified infrastructure no later than
8/31/19; and provide written notice,
laccompanied by one or more permanent COs on
lithe building only.
8/31/2019 j $25,000
Outstanding Performance Agreement Summary
Provide documentation that company has leased
more than 60%of the space within the building to
restaurants; Company has completed qualified
infrastructure no later than 8/31/19 with a
minimum cumulative cost of$75,000; CO on
building no later than 8/31/19; and provide
written notice, accompanied by one or more
permanent COs and leases as describe above.
1/22/2021 $50,000
Taylor&Son
Certificate of Occupancy for no less than 1,290 sf
office building located at 107 Jackson Street;
Documentation of minimum project cost of
$75,000; Documentation of construction costs of
$6,400 for qualified infrastructure providing a
minimum of 7 parking spaces at this location;
Current on ad valorem taxes. 2/28/2019 $3,200
Woodbridge Crossing `Phase I. CO for initial phase including a Super 65%sales tax reimb 2009
Target by 8/1/09. 8/1/2009 2013; 85%sales tax reimb
No further performance requirements. Default
declared reducing maximum incentive from $12 Reimbursement
mm to$6 mm. 2021 spreadsheet attached
Hotel Occupancy Tax Receipts
2014 2015 2016 2017 2018
January $3,332.78 $3,910.22 $3,960.95 8,369.84 $8,848.69
February 3,773.66 3,994.91 5,810.03 5,016.36 9,767.37
March 4,559.63 5,250.71 6,336.25 5,757.40 13,360.70
April 4,921.52 5,119.52 10,366.04 4,348.00 14,375.83
May 4,991.83 5,163.84 11,014.00 6,402.58 15,934.35
�.a ..
June 5,692.40 6,182.22 8,812.25 6,605.05 17,191.21
July 5,201.941 5,664.42 8,314.57 6,171.14 16,824.70
August 5,242.99 5,279.29 9,764.71 5,779.66 12,372.93
September 5,280.16 5,044.30 7,658.43 5,193.79 14,369.06
October 6,033.92 5,665.76 7,242.90 6,301.30
November 5,213.871 5,168.761 7,054.65 5,031.62
December 4,930.79 6,234.68 6,708.86 6,637.89
Total: $59,175.49 $62,678.63 $93,043.64 $71,614.63 $123,044.84
2 Hotels reporting beginning in December 2017.
Regional Housing Permits
Wylie Lavon
10 11 12 13 14 15. 16 17..... .1.8 10 11 12 . 13 14 15 . 16 17 18
January 28 20 16 ' 18 14 46 9 15 41 January 8 2 4 5 4 6 2 12 2
February 18 9 22 14 20 31 4 36 54 February 7 11 2 5 11 6 5 1 7
March 20 28 18 17 30 31 43 33 61 March 8 3 6 3 17 8 3 0 1
April ' 23 18 29 38 10 57 41 70 49 April 13 1 12 24 7 11 1 1 17
May 26 18 20 22 26 68 101 45 48 May 8 1 0 9 17 4 4 11 7
June 24 19 b 13 11 9 57 58 98 47 June 12 9 2 5 12 5 1 7 15
July 33 20 19 18 29 36 34 60 63 July 11 2 3 1 14 12 1 1 11
August 24 16 20 19 19 30 25 11 50 August 12 9 6 3 1 5 0 12 0
p 23 ; 22 15 8 17 24 18 46 23 September 0 6 7 6 2 7 0 5 9
Se terrtbt
October ! 17 16 28 30 21 32 26 33 45 October 14 4 2 1 9 5 • 0 0 7
November, 13 5 14 18 20 33 11 42 34 November 5 5 3 2 1 2 0 14 3
December 15 10 16 23 65 38 39 18 16 1December11 7 1 4 5 6 0 40 0
TOTAL 264 201 230 236 • 280 483 409 507 531 'TOTAL 99 60 48 68 100 77 17 104 79
Murphy Sachse
10 11 12 13 14 15 16 17 18
14 4 7 1. 26 13 1 12 5 0 January 17 14 8 13 18 14 16 4 15
Febury 15 3 14 4 5 5 4 2 6 • February 10 3 11 8 29 17 31 15 9
15 9 6 6 8 4 5 4 0 March 11 9 12 1 13 24 31 23 5
12 8 10 23 1 3 8 1 0 April 11 8 4 13 17 12 24 15 2
5 11 14 7 7 2 2 0 0 May 13 11 17 10 21 6 21 15 9
13 6 19 15 6 7 4 0 0 June 11 8 17 14 16 38 25 14 3
Juy 7 7 16 7 22 4 2 8 1 July 15 7 14 15 30 12 22 17 4
AuU 3 4 13 15 16 2 21 0 0 August 1 14 5 19 10 29 41 32 8 6
7 4 10 1 10 3 3 6 0 0 .September. 3 12 12 17 23 27 20 3 2
0Cobr. .1 8 3 16 16 4 0 2 0 0 October 3 8 15 25 18 31 29 10 6
' 7 3 17 5 5 2 6 0 1 November. 4 6 9 12 27 26 12 6 6
9 8 7 15 4 0 1 1 5 December. 6 7 10 11 39 12 11 2 3
TOTAL 115 70 149 149 94 33 73 21 13 TOTAL ' 118 98 148 149 280 260 274 132 70
Inspiration
Jan Feb Mar Awr My Jun. Jul Au.• Sep Oct Nov Dec Tota
15 • 5 12 10 6 17 13 14 4 13 8 5 11 118
116 10 19 11 9 7 13 40 8 14 13 18 2 164
1.7 10 12 26 29 18 30 16 17 20 14 19 18 229
18 30 27 29 24 23 35 18 13 8 14 31 9 261
Regional Housing Permits
Wylie Pending Developments Inspiration Phase 5A-1 10.32 ac 58 with 3
Estates of Creekside-45 ac. -63 Lots, 3 open space Inspiration Phase 3A-50.08 ac 324 lots
Braddock Place, Phase 2 - 185 ac. - 44 Lots Dominion of Pleasant Valley Ph 2 -62.142
Kreymer Estates Phase 1 -36.475 ac. - 110 Lots ac 212 lots
Lewis Ranch -53 ac. -216 Lots Railroad Addition, Lot 15R -0.402 ac 2 lots
Woodbridge 16 -25.083 ac. - 111 Lots Inspiration 3B-1 56.75 ac-205 lot
Dominion of Pleasant Valley- 361.4 ac. -975 Lots Bozman Farms Phase 5B-21.874 ac 74 lots
Covington Estates Ph 1 - 14.308 ac. -44 lots Kreymer East Phase 1 -26.782 ac 86 lots
Bozeman Farms-780 lots remaining (145 under cons.) Inspiration Phase 3B-1 56.75 ac 205 lot
Alanis Crossing - Phase 1 -29.292 ac- 53 Lots New Haven at Wylie-3.126 ac 1 lot
Braddock Place, Phase 3 -18.322 ac. - 53 Lots, 2 open space Kreymer Estates 4 -27.312 ac 78 lots
Wilson Creek-38 ac. 140 lots Stone Ranch -38.113 ac 138 lots
Inspiration 2B -25 ac. 76 lots Wylie ETJ Collins Addition -6.398 ac 2 lots
ZC 2014-08 Nails-25 ac. 105 Townhomes Clarimarhomes 0.281 ac 2 lots
Hunter's Cove Phase I - 31.414 ac 58 Lots Lake Park villas 26.586 ac 165 lots
Bozman Farms Phase 3-50.392 ac 139 Lots Woodbridge 21 - 104.174 ac- 367 lots
Braddock Place Phase 4 -25.608 ac 77 Lots Keller's 2nd Addition -0.289 ac 1 lot
Braddock Plase Phase 3 - 18.322 ac. 53 Lots Keller's 2nd Addition -0.289 ac 1 lot
Creekside Estates Phase VII -23.267 ac. - 11 Lots Railroad Add, Lot 3R-1 &3R-2 -0.281 ac 1 lot
Castle Park-31.41 ac 56 Lots Inspiration Ph 3B-1 -56.75 ac 199 lots
Inspiration Phase 1 &2 --53 Lots Bozman Farm Phase 6 -59.968 ac 181 lots
Kreymer Estates Amenity Center-3.3 ac. 1 Lot Inspiration Ph 3B-3 - 19 lots
Kreymer Estates Phase 2 -23.171 ac 60 Lots Creekside Phase IX 1.428 ac 5 lots
Kreymer Estates Phase 3-29.7654 ac 74 Lots
Mansions at Wylie Seniors- 13.125 ac 1 Lot
Schupbach Estates- 0.633 ac. 2 Lots
Wooded Creek Phase 2 Amenity Center-0.512 ac 1 Lot Sachse Pending e . ents
Creekside Estates Phase VIII -20.551 ac 65 Lots Jackson Hills Phase 3A-2 -55 Lots
Kreymer Estates Phase 4 -27.312 ac 78 Lots Heritage Park- Phase 3-81 Lots
Bozman Farms Phase 5-69.071 ac 198 Lots Parkwood Ranch - Phase 2 -102 Lots
HNI Townhome Addition - 10.06 ac 104 Lots Jackson Hills- Phase 3B- 114 Lots
Alanis Crossing Phase II -26.239 ac 42 Lots Jackson Meadows-51 Lots
Trailsplace Lot 6-BR & 6 C-0.256 ac 2 Lots Woodbridge- Phase 19 - 148 Lots
Kreymer Park-45.57 ac 151 Lots Estates of Pleasant Valley Phase II -(21 Lots)
Kreymer Estates Phase 3 -29.7654 ac 74 Lots Serene Townhomes (122 units)
Braddock Place Phase 5 -28.019 ac Malone Estates (37 lots)
Railroad Addition Block 31- 1 ac. Estates of Pleasant Valley Phase I - (42 lots)
Creekside Estates Ph 9- 12 ac
Covington Estates Phase 2 - 13.927 ac ETJ
Kreymer Park-45.57 ac 151 Lots C & F Copeville Addition -3.515 ac 3 Lots
Bozman Farms Phase 5-69.071 ac 198 Lots Geckler Addition - 14.274 ac 1 Lot
Inspiration Phase 3 and 4- 107.83 ac Reyes estates- 3.61 ac 2 Lots
Russell Addition -0.16 ac 1 lot Creeks Crossing -3.187 ac 2 Lots
Oaks Addition -0.304 ac 1 lot Keeley's Corner ETJ -5.421 ac
Keller's 2nd Addition-0.289 ac 1 lot Kingdom Court Phase 1- 11.048 ac-10 lots
Serene Villas-21 ac 67 with 3 lots Creekwood Estates - 15.717 ac 20 Lots
New Haven at Wylie-3.1 ac 1 lot J Cubed Addition 1.841 ac
LewisRanch Phase 128.58 ac 97 lot Creekwood Country Estates -21.34 ac 22 lots
Bozman Farm Phase 7-77.3695 ac 195 w/3 open
Redwood at the Lake Phase 2 -30.58 ac
Southside Addition -0.6428 ac
ylie cono ic I evelop ent Corporation
E O - A BU
TO: WEDC Board of Directors
FROM: Sam Satterwhite, Executive Director
SUBJECT: Future Agenda Items
DATE: January 8, 2019
Issue
Discussion of issues to be placed on future WEDC Board Meeting agenda (no substantial
consideration/discussion allowed).
Analysis
During this Discussion Item, Board Members will have the opportunity to propose that an issue
be placed on a future agenda for consideration.
The Board will note that no substantial consideration/discussion is allowed so that there will not
be a violation of the Open Meetings Act which requires discussion/action items be placed on
Agenda's with specific language as to what will be discussed. For example, the above language
will allow a Board Member to present a request for a certain item to be placed on an agenda for
consideration, but not the ability for the same Board Member to argue the merits of the issue.
Conversely, another Board Member may not discuss the merits as to why they may not want that
particular item on a future agenda.
Recommendation
This Item is for discussion only and will provide direction to Staff. No formal action is allowed.