Loading...
03-20-2019 (WEDC) Agenda Packet Wylie Economic Development CORPORATION Regular eeting Agenda March 20, 2019—6:30 A.M. WEDC Offices—Conference Room 250 South Highway 78—Wylie, Texas Bryan Brokaw...... ... ...... . ......a, ......... ..A....,, .,.....,. H,....,.. »>...,,. ,. .., ... . .......,,_President Todd Wintters e Vice President John Yeager Secretary Demond Dawkins Treasurer Marvin Fuller,....... ......:.. .......A. ........., .,.,.,. .. . ,,..,.,.,., ,..,....,.. „ :.....,. , Board Member Mayor Eric Hogue Ex-Officio Member Mindy Manson,City Manager Ex-Officio Member Samuel Satterwhite ......... .... .... .......:. . ......:: .....:... .......... Executive Director Angel ygant...... ............. ..... .......: ....... ........: ........ 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: www.wylietexxs.gov within the required time frame. CALL T ' 1ER Announce the presence of a Quorum. INVOCATION & PLEDGE F ALLEGIANCE CITIZEN P TICIPATI N 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 February 20, 2019 Minutes of the WEDC Board of Directors Meeting. IL Consider and act upon approval of the February 2019 WEDC Treasurer's Report. III. Consider and act upon a Purchase and Sale Agreement between the WEDC and Taylor and Son Properties, LLC. IV. Consider and act upon a Performance Agreement between the WEDC and Taylor and Son Properties, LLC. WEDC—Agenda March 20, 2019 Page 2 of 3 V. Consider and act upon issues surrounding a Performance Agreement between the WEDC and STRR GRVL, LP. DISCUSSION ITEMS VI. Staff report: review issues surrounding WEDC Performance Agreement Summary, Hotel Occupancy Tax, environmental activity summary, McClure office project, Jackson Street alley project, Retail Coach Presentation, 78/Brown redevelopment update, active project summary, and regional housing starts. VII. Presentation by City of Wylie Finance Department to review WEDC financials and reporting practices. VIII. Discussion of issues to be placed on future WEDC Board Meeting agenda (no substantial consideration/discussion allowed). EXECUTIVE SESSION If during the course of the meeting covered by this notice, the Wylie Economic Development Corporation(WEDC) should determine that a closed or executive meeting or session of the WEDC Board, or a consultation with the attorney for the City, should be held or is required, then such closed or executive meeting or session or consultation with attorney as authorized by the Texas Open Meetings Act, Texas Government Code§551.001 et. seq., will be held by the WEDC Board at the date, hour, and place given in this notice as the WEDC Board may conveniently meet in such closed or executive meeting or session or consult with the attorney for the City concerning any and all subjects and for any and all purposes permitted by the Act, including, but not limited to, the following sections and purposes: Texas Government Code Sections: §551.071 —Private consultation with an attorney for the City. §551.072—Discussing purchase, exchange, lease or value of real property. §551.074—Discussing personnel or to hear complaints against personnel. §551.087—Discussing certain economic development matters. §551.073 —Discussing prospective gift or donation to the City. §551.076—Discussing deployment of security personnel or devices or security audit. 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 • State Highway 78 & Cooper • F.M. 544 & Cooper WEDC—Agenda March 20, 2019 Page 3 of 3 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 2017-6a • Project 2018-8b • Project 2019-2a • Project 2019-3a RECONVENE INTO OPEN MEETING Take any action as a result from Executive Session ADJOU MENT CERTIFICATION I certlft that this Notice of Meeting was posted on this 15`" day of March 2019 at 5:00 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: wwwrw. rlietexas. ov. Stephanie Storm,City Secretary Date Notice Removed Minutes Wylie Economic Development Corporation Board of Directors Meeting Wednesday, February 20, 2019—6:30 A.M. WEDC Offices—Conference Room 250 South Highway 78—Wylie, Texas CALL TO ORDER Announce the presence of a Quorum President Bryan Brokaw called the meeting to order at 6:31 a.m. Board Members present were Todd Wintters, John Yeager, Demond Dawkins and Marvin Fuller. 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 Todd Wintters gave an invocation and led the Pledge of Allegiance. Mayor Hogue arrived at 6:34 a.m. CITIZEN PARTICIPATION With no citizen participation, President Brokaw moved to Action Items. ACTION ITEMS ITEM NO. 1—Consider and act upon approval of the January 21,2019 Minutes of the Wylie Economic Development Corporation (WEDC) Board of Directors Meeting. MOTION: A motion was made by John Yeager and seconded by Demond Dawkins to approve the January 21, 2019 Minutes of the Wylie Economic Development Corporation. The WEDC Board voted 5 —FOR and 0 —AGAINST in favor of the motion. ITEM NO. 2 — Consider and act upon approval of the January 2018 WEDC Treasurers Report. Staff reviewed the Treasurers Report and called the board's attention to the following highlights: Sales Tax Receipts remain strong with $307,367 received in February. This represents an 11.5% increase over 2018 receipts. WEDC—Minutes February 20, 2019 Page 2 of 6 During the month of January, the WEDC made its sixth and final incentive and sales tax reimbursement payment to B&B Theatres Operating Company. The WEDC purchased 2 properties in January: 410 E. Brown and 102 N. Birmingham. Payments were made for the paving improvements at Hensley and Sanden. Staff conveyed that a WEDC budget amendment was presented to Council on 2-12-19 and unanimously approved. There were however two questions from Council regarding the (1) unbudgeted alley east of Ballard and (2) paving improvements at Sanden & Hensley. Staff responded to Council that the alley was an approved line-item within the FY 17 — 18 budget that was not completed and that the Hensley project had not been presented to Council. After further research staff concluded that the Hensley project was added to the current budget but not presented to Council as a line-item expenditure. MOTION: A motion was made by Todd Wintters and seconded by John Yeager to approve the January 2019 Treasurer's Report for the Wylie Economic Development Corporation. The WEDC Board voted 5 — FOR and 0 — AGAINST in favor of the motion. ITEM NO. 3 —Consider and act upon issues surrounding a Consulting Agreement between the WEDC and The Retail Coach. Staff reviewed a proposal from The Retail Coach to renew a Consulting Services Contract. The WEDC and The Retail Coach have had a lengthy relationship which started in 2007 prior to Wylie's first experience at RECON which ultimately resulted in the securing of Woodbridge Crossing. Services provided assist the WEDC with development of marketing materials, site analysis, and promotion of Wylie sites to regional and national retailers. Staff explained that while short term contracts are typically beneficial in the sense that poor work product/professional relationships can be modified or corrected, staff believes that The Retail Coach has provided such a consistent level of service and professionalism that a longer contract with associated cost saving is worth considering. Staff presented a proposal for a 5-year agreement resulting in a cost savings of$12,500 compared to the 2-year structure previously approved. Board Members Wintters and Brokaw both commented on dedicated meeting space at ICSC provided in the new contract. Mr. Fuller favored the longer-term agreement only because of the long-term quality of work but requested that Retail Coach representatives provide a presentation to the Board as to the overall retail environment in Wylie. MOTION: A motion was made by Marvin Fuller and seconded by John Yeager to approve an agreement with The Retail Coach in the amount of$62,500 for the creation and implementation of a Comprehensive Retail Recruitment & WEDC—Minutes February 20, 2019 Page 3 of 6 Development Strategy. The WEDC Board voted 5—FOR and 0—AGAINST in favor of the motion. ITEM NO.4—Consider and act upon issues surrounding the conveyance of WEDC personal property to the City of Wylie. Upon purchase of real estate located at 300 East Brown Street, the WEDC acquired all personal property utilized in operating a senior care facility. While much of the personal property had little to no value, there was a generator present that was used for emergency operations and capable of powering the entire facility. The 2005 Cummins stand-alone, 35KW diesel generator (Model #DGGD-5705578/Serial #B050747631)has a market value of$6,000 - $9,000. The City of Wylie Wastewater Department has a high level of interest in the used generator to be utilized for emergency power needs of multiple pump stations operated by the City with the equipment mounted on a trailer and retrofitted to complement existing power connections. After contacting the Purchasing Department,the WEDC was advised that if the Board of Directors was interested in conveying this equipment to the City, formal action must be taken by the Board. MOTION: A motion was made by Demond Dawkins and seconded by Todd Wintters to authorize the Executive Director to execute all documentation necessary to formalize the conveyance of a 2005 Cummins diesel generator to the City of Wylie. The WEDC Board voted 5 —FOR and 0—AGAINST in favor of the motion. ITEM NO. 5 — Consider and act upon a Performance Agreement between the WEDC and Parkarosa, LTD. Prior to discussion of this item, Marvin Fuller informed the board that the principal in this item has a depository relationship with his employer. The Board was polled and determined no conflict of interest existed. As reported at the September 2018 Board Meeting in Executive Session, staff approached Parkarosa, Ltd(Richard Parker Real Estate)to encourage increased parking to serve a 1,737 square foot office being remodeled at 306 Ballard. Staff was able to confirm that with WEDC assistance, Parker would provide six paved parking spaces behind the building,tie into the newly constructed alley, construct a new approach off Ballard, and create new sidewalks connecting the parking improvements to the office. Staff also pointed out that as with other residential properties transitioning into commercial,it is not required for the property owner to provide any new parking as off-site parking satisfies current requirements. Staff determined that the cost for the parking by itself, not including sidewalks, new approach, etc., is $8,938. WEDC—Minutes February 20, 2019 Page 4 of 6 MOTION: A motion was made by Todd Wintters and seconded by Demond Dawkins to authorize the Executive Director to enter into a Performance Agreement with Parkarosa, Ltd to provide $4,469 in reimbursements for qualified infrastructure assistance. The WEDC Board voted 5 — FOR and 0 — AGAINST in favor of the motion. DISCUSSION ITEMS ITEM NO. 7 - Staff report: review issues surrounding WEDC Performance Agreement Summary, Hotel Occupancy Tax, environmental activity summary, Eubanks water line, Cross Development Performance Agreement,presentation by Finance Department,parking improvements at 308 North Ballard, McClure office project, Abernathy presentation to Council, Ballard Street alley project,Jackson Street alley project, 78/Brown redevelopment update, active project summary, and regional housing starts. Staff updated the Board on WEDC projects and activities noting that year-over-year sales tax receipts received in December for the Woodbridge Crossing shopping center decreased 7.39%and Woodbridge Centre experienced an increase of 5.25%over the same time period. Staff could find no explanation for the decrease in sales tax revenue during this period. Staff informed the Board that the Eubanks waterline project was complete, the alley projects are progressing well with GT construction nearing completion of the Ballard Street alley and work commencing on the Jackson Street project on or about February 22nd. The Weatherford property closed on February 12th and new housing starts remained strong with twenty-eight new homes permitted in Wylie. Cross Development has informed staff that they will be approaching Council in the very near future to request a 90-day extension of their requirement to complete the multi-family project (among other requirements) by September 1, 2020. Cross cites an additional 6 weeks in permitting that wasn't anticipated and unprecedented rains this past fall. Staff has been unable to locate historical rainfall averages and 2018 actuals for Wylie, but DFW had 30" of rain between September — November in 2018 with typical rainfall levels being 4" — 6" over the same period. While there was 23" in 2015, you have to go back to 1994 to find anything over 15". Cross projects they may be complete in August 2020 barring any further delay, but the 10 weeks already lost early in the project is cause for concern. Staff informed the board that Mr.Randy Hullett will be making a presentation to Council on March 26, 2019. The topic to be addressed will be reporting requirements between the WEDC and the Wylie City Council similar to a presentation presented to Council on or about July 2018. ITEM NO. 8— Discussion of issues to be placed on a future WEDC Board Meeting agenda (no substantial consideration/discussion allowed). Board Member Fuller requested that staff present on a future agenda the economic impact case study on the Seventy8 development by Cross Development. WEDC—Minutes February 20, 2019 Page 5 of 6 President Bryan Brokaw recessed into Executive Session. EXECUTIVE SESSION Recess into Closed Session at 7:47 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: • State Highway 78 & 5th Street • State Highway 78 & Ballard • State Highway& Cooper • F.M. 544 & Cooper 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 2018-4b • Project 2018-1Oc • Project 2019-2a Mindy Manson left the meeting at 8:13 a.m. Mayor Hogue left the meeting at 8:37 a.m. RECONVENE INTO OPEN MEETING Take any action as a result from Executive Session The WEDC Board of Directors reconvened into open session at 8:59 a.m. and took the following action: ITEM NO. 9 — Consider and act upon ratifying a real estate contract between the WEDC and Dennis and Kay Murphy for the purchase of property located at 701 S. Ballard. MOTION: A motion was made by John Yeager and seconded by Demond Dawkins to approve a real estate contract between the Wylie Economic Development Corporation and Dennis and Kay Murphy for the purchase of property located at 701 S. Ballard, Wylie, Texas for $170,000 plus fees and further authorize President Bryan Brokaw to execute all documentation necessary to effectuate the transaction. The WEDC Board voted 5—FOR and 0—AGAINST in favor of the motion. WEDC—Minutes February 20,2019 Page 6 of 6 ADJOU' MENT With no further business, President Brokaw adjourned the WEDC Board meeting at 9:00 a.m. Bryan Brokaw, President ATTEST: Samuel Satterwhite,Director ylie cono ic evelop ent Corporation E ORA DU TO: Samuel Satterwhite, Executive Direct° FROM: Angel Wygant, Senior Assistant a SUBJECT: February 2019 Treasurer's Report DATE: March 6, 2019 Issue Consider and act upon approval of the February 2019 WEDC Treasurer's Report. Analysis Sales Tax Receipts continue to be strong with $208,222 received in March. This represents a 13.87% increase over March 2018 receipts and a 14.24% increase overall for the prior year. During the month of February, the WEDC made final incentive payments to Mikten, and Hooper Woodbridge II. In addition, the WEDC sold property located at 105 N. Jackson Ave. and purchased the Weatherford Property, 300 N. 2nd Street, 306 and 208 N. 2nd Street. On 2/15/19 the WEDC made a payment in the amount $459,605.40 to pay the remaining balance of American National Bank loan 88149711 which funded the purchase of the Peddicord Building from the City of Wylie and the White Property on Alanis Drive. 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. Accounts Rec —Misc. - $87,823.25. This receivable of$87,823.25 is associated with the sale of 105 N. Jackson to Rocking M. The sale closed on 2/28/19. The check was issued by the Title Company on March 1st so the month of February has a receivable which will be booked in March. Accounts Rec — Forgivable Loans - $140,000. This figure represents the loan made to Exco Extrusion Dies in the amount of$350,000. The first 3 loan payments were forgiven on February 24th of 2017, 2018 and 2019 respectively and in accordance with the terms of the Performance Agreement. Assuming Exco remains in compliance, the remaining 2 loan payments will be forgiven in equal amounts of$70,000 on an annual basis effective February 24th. WEDC February 2019 Treasurers Report March 6, 2019 Page 2 of 3 Deterred Outflows - $555,188.87. This is the total of incentive payments which are due in the future. A breakdown of these charges includes: Exco Extrusion Dies — $20,000, DCU - $31,988.80, DANK Real Estate - $83,000, Cross Development - $250,000, SCSD-Finnell - $75,000, Taylor& Son- $3,200, Carrie Elle - $2,500, Rocking M - $89,500. Balance Sheet,page 2: Deferred Inflow - $78,000. 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 three payments of $39,000 were forgiven on February 2th of 2017, 2018 and 2019 respectively, two payments remaining. Revenue and Expense Report,page 2: Rental Income — $7,970. Austin Said - $3,000, Wheels Unlimited - $1,435, Richmond Hydromulch - $500, Helical Concepts - $400, Trimark - $1,035, Wylie Northeast - $1,000, Turner- $600. Bank Note Proceeds $364,399.74. ANB Loan Draw#5. Revenue and Expense Report,page 3: Office Supplies - $977.95. General Office Supplies ($167.95), Wylie Days Book Covers ($310), Business Cards ($500). Food Supplies - $311.98. WEDC Board Meeting Meals ($121.98), Leadership Wylie ($190). Incentives - $53,563.56. Mikten—Incentive 2 of 2 ($10,000), Hooper-Woodbridge II—Incentive 1 of 1 ($20,000), Clark Street Sales Tax Reimbursement ($3,563.56), Exco Extrusion Dies — Additional Incentive 3 of 4 ($20,000). Special Services — $19,521.36. Plumbing Repair — 504 E. Brown ($180.75), Property Management/Repairs — Brown ($7,559.15), Eubanks Easement — Collin County Filing Fees ($98.21), Janitorial Svc ($157.50), The Retail Coach — Payment 1 of 5 ($12,500), Credit for Squire property survey paid outside of closing - $974.25. Advertising - $3,000. Connection($1,500), Chamber Banner Ad ($1,500). Community Development - $6,057.50. Collin College Stetson & Stiletto ($2,500), KCS Event ($2,000), Industrial Appreciation Holiday Promotion ($157.50), Chamber Auction Sponsor ($400), Taste of Wylie Sponsor($1,000). Travel & Training — $1,262.01. ICSC Red River - Greiner ($132.95), TEDC Winter Conf— Greiner($450), KCS Event Taxi-Greiner($33.95), Bus. Mtg/Project. Updates ($645.11). WEDC February 2019 Treasurers Report March 6, 2019 Page 3 of 3 Dues & Subscriptions - $1,651.64. WDMA — 2019 Dues ($100), Club Corp — December ($710.67), Club Corp—January($840.97). Insurance—($35.48). Blanket Bond Renewal ($303), TML Credit- $338.48 Audit & Legal - $6,845. Arty Fees: Environmental Review ($5,985), Eubanks Easement ($120), Weatherford ROW ($740). Land - $1,104,333.24. 701 S. Ballard Earnest & Option ($6.400), Purchases: Weatherford Property($738,538), 306 & 308 N. 2nd Street ($143,423.04), 300 N. 2nd Street ($215,972.20). Streets & Alleys - $126,766.55. Ballard Alley Project ($119,165), FM 544 Waterline ($7,601.55). Recommendation Staff recommends that the WEDC Board of Directors approve the February 2018 Treasurer's Report. Attachments February 2018 Treasurer's Report Wylie Economic Development Corporation Statement of Net Position As of February 28,2019 Assets Cash and cash equivalents $ 1,097,177.34 Receivables $ 227,823.25 Note 1 Inventories $ 10,971,705.54 Prepaid Items $ - Total Assets $ 12,296,706.13 Deferred Outflows of Resources Pensions $ 101,121.55 Total deferred outflows of resources $ 101,121.55 Liabilities Accounts Payable and other current liabilities $ 6,577.99 Unearned Revenue $ 81,000.00 Note 2 Non current liabilities: Due within one year $ 225,876.42 Note 3 Due in more than one year $ 5,801,918.49 Note 4 Total Liabilities $ 6,115,372.90 Deferred Inflows of Resources Pensions $ (30,407.41) Total deferred inflows of resources $ (30,407.41) Net Position Net investment in capital assets $ Unrestricted $ 6,312,862.19 Total Net Position $ 6,312,862.19 Note 1: Includes incentives in the form of forgivable loans for$140,000 Note 2: Exco amortization;deposits from rental property Note 3: Liabilities due within one year includes compensated absences of$14,237 Note 4: Includes$3,061,351.93 draw-down of the approved$4,500,000 loan from American National Bank as of February 28,2019 3-12-2019 11:07 AM CITY OF WYLIE PAGE: 1 BALANCE SHEET AS OF: FEBRUARY 28TH, 2019 111-WYLIE ECONOMIC DEVEL CORP ACCOUNT# TITLE ASSETS 1000-10110 CLAIM ON CASH AND CASH EQUIV. 1,095,177.34 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 NEC - MISC 87,823,25 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 NEC JTM TECH 0,00 1000-12998 ACCTS NEC - FORGIVEABLE LOANS 140,000.00 1000-14112 INVENTORY - MATERIAL/ SUPPLY 0,00 1000-14116 INVENTORY - LAND & BUILDINGS 10,971,705,54 1000-14118 INVENTORY - BAYCO/ SANDEN BLVD 0.00 1000-14310 PREPAID EXPENSES - MISC 0,00 1000-14410 DEFERRED OUTFLOWS 555,188.87 12,851,895.00 TOTAL ASSETS 12,851,895,00 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 0.35 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 TEL 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 1,283,30 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 3-12-2019 11:07 AM CITY OF WYLIE PAGE: 2 BALANCE SHEET AS OF: FEBRUARY 28TH, 2019 111-WYLIE ECONOMIC DEVEL CORP ACCOUNT# TITLE 2000-20201 AP PENDING 5,234.34 2000-20210 ACCOUNTS PAYABLE 0.00 2000-20530 PROPERTY TAXES PAYABLE 0.00 2000-20540 NOTES PAYABLE 555,188.87 2000-20810 DUE TO GENERAL FUND 0.00 2000-22270 DEFERRED INFLOW 78,000.00 2000-22275 DEF INFLOW - LEASE PRINCIPAL 0.00 2000-22280 DEFERRED INFLOW - LEASE INT 0,00 2000-22915 RENTAL DEPOSITS 3,000.00 TOTAL LIABILITIES 642,766.86 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 3,818,673.76 TOTAL EXPENSES 1,338,567.38 REVENUE OVER/(UNDER) EXPENSES 2,480,106.38 TOTAL EQUITY & OVER/(UNDER) 12,209,128,14 TOTAL LIABILITIES, EQUITY & OVER/(UNDER) 12,851,895.00 3-12-2019 11:07 AM CITY OF WYLIE PAGE: 1 BALANCE SHEET AS OF: FEBRUARY 28TH, 2019 922-GEN LONG TERM DEBT (WEDC) ACCOUNT# TITLE ASSETS 1000-10312 GOVERNMENT NOTES 0,00 1000-18110 LOAN - WEDC 0.00 1000-18120 LOAN - BIRMINGHAM 0.00 1000-18210 AMOUNT TO BE PROVIDED 0,00 1000-16220 BIRMINGHAM LOAN 0.00 1000-19050 DEF OUTFLOW TMRS CONTRIBUTIONS 35,543,29 1000-19051 DEF OUTFLOW SDBF CONTRIBUTIONS 543.00 1000-19075 DEF OUTFLOW - INVESTMENT EXP 0,48 1000-19100 DEF OUTFLOW - ACT EXP/ASSUMP 65,034.78 1000-19125 (GAIN)/LOSS ON ASSUMPTION CHG( 30,407.41) 70,714.14 TOTAL ASSETS 70,714.14 LIABILITIES 2000-20310 COMPENSATED ABSENCES PAYABLE 81,193.87 2000-20311 COMP ABSENCES PAYABLE-CURRENT 14,237.00 2000-21410 ACCRUED INTEREST PAYABLE 3,991.77 2000-28205 WEDC LOANS/CURRENT 207,647.65 2000-28220 BIRMINGHAM LOAN 0.00 2000-28230 INWOOD LOAN 0.00 2000-28232 ANB LOAN/EDGE 0.00 2000-28233 AND LOAN/PEDDICORD WHITE 0.00 2000-28234 AND LOAN/RANDACK HUGHES 0.00 2000-28235 AND LOAN 0.00 2000-28236 ANB CONSTRUCTION LOAN 0.00 2000-28237 AND LOAN/ WOODBRIDGE PARKWAY 251,320.68 2000-28238 ANB LOAN/BUCHANAN 0.00 2000-28239 ANB LOAN/JONESHOBART PAYOFF 0.00 2000-28240 HUGHES LOAN 0.00 2000-28242 AND LOAN/HWY 78:5TH ST REDEV 3,061,351.93 2000-28245 ANB 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 KUTS LOAN 0.00 2000-28270 BOWLAND/ANDERSON LOAN 0.00 2000-28280 CAPITAL ONE CAZAD LOAN 0.00 2000-28290 HOBART/COMMERCE LOAN 0.00 2000-29150 NET PENSION LIABILITY 171,106.17 2000-29151 SDBF LIABILITY 6,506.00 ...._ TOTAL LIABILITIES 6,027,794.91 3-12-2019 11:07 AM CITY OF WYLIE PAGE: 2 BALANCE SHEET AS OF: FEBRUARY 28TE1, 2019 922—GEN LONG TERM DEBT (WEDC) ACCOUNT# TITLE EQUITY 3000-34590 FUND BALANCE—UNRESERV/UNDESIG( 3,412,605a24) 3000-35900 UNRESTRICTED NET POSITION ( 120,264.00) TOTAL BEGINNING EQUITY ( 3,532,869.24) TOTAL REVENUE ( 3,061,351.93) TOTAL EXPENSES ( 637,140.40) REVENUE OVER/(UNDER) EXPENSES ( 2,424,211,53) TOTAL EQUITY & OVER/(UNDER) ( 5,957,080.77) TOTAL LIABILITIES, EQUITY & OVER/(UNDER) 70,714.14 3-12-2019 11:10 AM CITY OF WYLIE PAGE:> 1 REVENUE AND EXPENSE REPORT - (UNAUDITED) AS OF: FEBRUARY 28TH, 2019 111-WYLIE ECONOMIC DEVEL CORP FINANCIAL SUMMARY CURRENT CURRENT PRIOR YEAR Y-T-D Y-T-D BUDGET 8 OF BUDGET PERIOD PO ADJUST. ACTUAL ENCUMBRANCE BALANCE BUDGET REVENUE SUMMARY TAXES 2,600,000.00 307,366.66 0.00 745,983.42 0.00 1,854,016.58 28.69 INTERGOVERNMENTAL REV. 0.00 0.00 0,00 0.00 0.00 0.00 0.00 INTEREST INCOME 3,600.00 995.60 0..00 5,144.11 0.00 -{ 1,544.11) 142.89 MISCELLANEOUS INCOME 1,675,166.00 ( 24,689.06) 0.00 6,194.30 0.00 1,668,971.70 0.37 OTHER FINANCING SOURCES 4,500,000.00 364„399.74 0.00 3,061,351.93 0.00 1,438,648.07 68.03 TOTAL REVENUES 8,778,766.00 648,072.94 0,00 3,818,673.76 0.00 4,960,092.24 43.50 EXPENDITURESUMMARY DEVELOPMENT CORP-WEDC 9,871,-731.13 754,120.05 0.00 1,338,567.38 7„559.15 8,525„609.60 13,64 TOTAL EXPENDITURES 9,871,731.13 754,120.05 0.00 1,338,567.38 7,559.15 8,525,604.60 13.64 REVENUE OVER/(UNDER) EXPENDITURES ( 1,092,965.13) ( 106,047.11) 0.00 2,480,106.38 ( 7,559.15) ( 3,565,512.36) 226.22- 3-12-2019 u.zo am czrx OF WYLzs ,ans. u movomvm AND uxPEmnu REPORT ww^vozroo/ An OF: roaon^pz zorn' zo/y uz-wzoo omwomzc ncvoL CORP aovswnon rvmncm~ mnmuw` pmzuo YEAR x'r-o x-r-o evcGsr OF an000r ponznn ,n xu,vur, xcrv^L omcvmen^wCo ax,awcn avnnur TAXES 4000-40150 mov IN LEm or omuS n�nu o�on 0.00 o�oo 0,00 o�on 0,00 vnnu-^nzm n^Lox Tax 0�00 745,983�42 -2�62 roraL r^xEo u'*uo'non�ov m,'aoo.a* o�no ms'yos�42 o�oo ''om'o`o.5o zv�*n INTERGOVERNMENTAL REV, 4000 435zo son mocwmyzc acaoomowrc .� o.0 0 0�00 _ V.»o' � 0,00 �u�oo .� l0,20 _o-.00 rorxL rwrouoovomw*amraL osv. 0.00 0�00 0,00 0,00 n no 0.00 0.00 INTEREST INCOME vovo 4aouu coarzrzcxTm on uuroozr n�nn 0.00 u°no 0.00 n^no 0.00 o no ovvn 4s110 ^LLvc^cuo zwzumovr u^RmzmGu 3'600 oo 995,60 0.00 5.144.11 v~oo 1.544�11/ 112.89 «nuu oo1«o roxeouL zmr0000r 0.00 n�oo opnn 0.00 0.00 o�oo 0,00 4000 �ozv3 LOGIC zmrceour n�nn o�on 0.00 n�oo 0,00 o�no o�on *non ^az5n zmroaonr ouamrmox 0.00 u�nu u`on v�oo n^nv o�oo 0.00 4000 o6z6u Lnum mcraxmsmr (rozmczruL) 0.00 0,00 o°on 0.00 o.no o�no o�no 4000 oaz10 oamu mnmox mamuor zmrouoo 0,00 -__0.00 0.00 ��00 0.00 _0.00^ roruL zmruoaxr zmcomm z'svo.u" ,ss.00 0.00 5'14*,1' mv / 1'544�11/ '"z�on MISCELLANEOUS INCOME 4000-48110 vmmr^z zwcnwu u2,*40�00 /,vrn�on n°on 38'853,:6 0.00 83'586,*4 31.73 4000-48310 v000vuar - rnzoa YEAR uxcum 0.00 o�ov 0,00 u�ou v�on o�vu o�ov 40e0-48410 mz;coLLAwonos INCOME 0.00 o�on n^vo 0,00 v`no 0.00 0.00. 4000-48430 oazx/(Lnoc) SALE OF cue ASS 1,552,726�00 L 32.659.06) ) 0.00 1,585,385.06 _2�10- rnr^^ mzxco^^^wonvv zwrOMm 1'675'1e.00 / zo's0000) 0.00 s'/p^�`o 0.00 1'668'9,1',0 n�o 27xnm rznm°czwo SOURCES 4000 ^,1on TRANSFER FROM ormEn^L rvmo 0.00 o�on o-ov 0,00 0.00 o�vo n�on 4000 4vs,5 aann noro pnoc000n 4'500.000.00 364'399�74 n`oo 3'061'351�93 0,00 1.438'648,0' 68.03 «ovo ov55v Lousu rczmczr^L p^,Momro (v 0.00 v�oo o^nn 0,00 o�no o�no o�nv 4000 4o6un zmxnRamco n000,om`mx 0.00 ' o�uo _ 0.00 , o^oo ~ oloo �oo 0.00 ,ncxL vTxom pzm^wnzmo oovaco, 4'500'000.00 ss^'^,y.'^ 0.00 3'061'351.93 0.00 1'438'*48�07 63.03 - � rnruL movowvoo 8',78'766.00 648'072.94 o�vv 3'818'67:.,6 0.00 *.000.uyz�z" 43.50 3-12-2019 11:10 AM CITY OF WYLIE PAGE: 3 REVENUE AND EXPENSE REPORT - (UNAUDITED) AS OF: FEBRUARY 28TH, 2019 ill-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 PERSONNEL SERVICES 5611-51110 SALARIES 290,180.00 22,737.04 0.00 107,887.99 0.00 182,292.01 37.18 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 0.00 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 4,603.98 0.00 7,996.02 36.54 5611-51220 PHONE ALLOWANCE 4,656.00 0.00 0.00 2,328.00 0.00 2,328.00 50.00 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 3,574.90 0.00 17,239.72 0.00 28,639.28 37.58 5611-51410 HOSPITAL & LIFE INSURANCE 41,277.00 3,327.23 0.00 16,624.14 0.00 24,652.86 10.27 5611-31415 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 87.73 0.00 509.46 0.00 1,145.54 30.78 5611-51440 FICA 18,863.00 1,386.56 0.00 4,514.59 0.00 14,348.41 23.93 5611-51450 MEDICARE 4,412.00 324.28 0.00 1,574.19 0.00 2,837.81 35,68 5611-51470 WORKERS COMP PREMIUM 396,00 19.19 0.00 302.39 0.00 93.61 76.36 5611-51480 UNEMPLOYMENT COMP (TWC) 810.00 0.00 0.00 0.00 0.00 810.00 0.00 ......... TOTAL PERSONNEL SERVICES 422,180.63 32,426.19 0.00 157,028.46 0.00 265,152.17 37.19 SUPPLIES 5611-52010 OFFICE SUPPLIES 6,000.00 977.95 0.00 1,459.21 0.00 4,540.79 24.32 5611-52040 POSTAGE & FREIGHT 890.00 5.25 0.00 11.95 0.00 878.05 1.34 5611-52130 TOOLS/ EQUIP (NON-CAPITAI) 0.00 0.00 0.00 0.00 0.00 0.00 (1.00 5611-52810 FOOD SUPPLIES 2,150.00 311.98 0.00 815.05 0.00 1,334.95 37.91 5611-52990 OTHER 0.00 0.00 0.00 0.00 0.00 0.00 ° TOTAL SUPPLIES 9,040.00 1,295.18 0.00 2,286.21 0.00 6,753.79 25T9 MATERIALS FOR MAINTENANC 5611-54630 TOOLS & EQUIPMENT 0.00 0.00 0.00 0.00 0.00 0.00 0.00 5611-54810 COMPUTER HARD/SOFTWARE 2,000.00 0.00 0.00 2,412.50 0.00 ( 412.50) 120.63 5611-54990 OTHER 5,000.00 0,00 0.00 0.00 0.00 5,000.00 0.00 TOTAL MATERIALS FOR MAINTENANC 7,000.00 0.00 0.00 2,412.50 0.00 4,587.50 34.46 CONTRACTUAL SERVICES 5611-56030 INCENTIVES 1,122,100.50 53,563.56 0.00 107,479.11 0.00 1,014,621.39 9.58 5611-56040 SPECIAL SERVICES 633,900.00 19,521.36 0.00 85,307.11 7,559.15 541,033.74 14.65 5611-56080 ADVERTISING 127,000,00 3,000.00 0,00 18,105.00 0.00 108,895.00 14.26 5611-56090 COMMUNITY DEVELOPMENT 68,100,00 6,057.50 0.00 24,269.25 0.00 43,830.75 35.64 5611-56110 COMMUNICATIONS 9,628.00 518.20 0.00 2,578.77 0.00 7,049.23 26.78 5611-56180 RENTAL 29,328.00 4,694.00 0.00 14,276.00 0.00 15,052.00 48.68 5611-56210 TRAVEL & TRAINING 55,425.00 1,262.01 0.00 6,085.02 0.00 49,339.98 10.98 5611-56250 DUES & SUBSCRIPTIONS 30,610.00 1,651.64 0.00 11,476.98 0.00 19,133.02 37.49 5611-56310 INSURANCE 4,310.00 ( 35.48) 0.00 4,00/.71 0.00 305.29 92.92 5611-56510 AUDIT & LEGAL SERVICES 39,000.00 6,845.00 0.00 20,119.50 0.00 18,880.50 51.59 5611-56570 ENGINEERING/ARCHITECTURAL 30,000.00 0.00 0.00 5,349.99 0.00 24,650.01 17.83 5611-5&610 UTILITIES-ELECTRIC 2,400.00 163.79 0,00, 1,849.61 0.00 550.39 77.07 TOTAL CONTRACTUAL SERVICES 2,151,801.50 97,241.58 0.00 300,901.05 7,559.15 1,843,341.30 14.33 3-12-2019 11:10 AM CITY OF WYLIE PAGE: 4 REVENUE AND EXPENSE REPORT - (UNAUDITED) AS OF: FEBRUARY 28TH, 2019 11 I-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. REPL 5611-57110 DEBT SERVICE 0.00 0.00 0.00 0.00 0.00 0.00 0.00 5611-57410 PRINCIPAL PAYMENT 1,628,051.00 495,443.08 0.00 638,850.09 0.00 989,200.91 39.29 5611-57415 INTEREST EXPENSE 343,898.00 18,997.47 0.00 65,242.52 0.00 278,655.48 18.97 5611-57710 BAD DEBT EXPENSE 0.00 0.00 O.00 0.00 0.00 0.00 0.00 TOTAL DEBT SERVICE & CAP. REEL 1,971,949.00 513,940.55 0.00 704,092.61 0.00 1,267,856.39 35.71 CAPITAL OUTLAY _. ...._,....._._ 5611-58110 LAND-PURCHASE PRICE 4,800,000.00 1,104,333.24 0.00 3,168,47 7.54 0.00 1,631,522.46 66.01 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 0.06 0.00 0.00 0.00 5611-58210 STREETS & ALLEYS 507,760.00 126,766,55 0,00 165,446,55 0.00 392,313.45 32.58 5611-58410 SANITARY SEWER 0.00 0.06 0.00 0.00 0.00 0.00 0.00 5611-58810 COMPUTER HARD/SOFTWARE 1,000.00 0.00 0.06 0.00 0.on 1.,000.00 o.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 (1,121,883.24) 0.00 ( 3,162,077 54) 0.00 3 162 077.54 0.00 TOTAL CAPITAL OUTLAY 5,309,760.00 109,216.55 0.00 1/1,816.55 0.00 5,137,913.45 3.24 OTHER FINANCING (USES) 5611-59111 TRANSFER TO GENERAL FUND 0.00 0.00 0.00 0.00 0.00 0.00 0.OD 5611-591.90 TRANSFER TO THORUC,0EARE IMP 0.00 0,00 0.()0 0.00 0.00 0.00 0.00 5611-59430 TRANSFER TO CAPITAL PROJ FIJ 0.00 0,00 0,00 0,6.0 0.00 0.00 0.0D 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 0.00 0.00 0.00 0,00 TOTAL DEVELOPMENT CORP-WEDC 9,871,731.13 751,120.05 0.00 1, 3.18,567.38 7,559.15 8,525,604.60 13.64 TOTAL EXPENDITURES 9,871,731.13 754,120.05 0.00 1,338,567.38 7,559.15 8,525,604.60 13.64 REVENUE OVER (UNDER) EXPENDITURES ( 1,092,965.13) ( 106,047.11) 0.00 2,980,106.38 ( 7,559.15) ( 3,565,512.36) 226.22- ,'',,, END OE REPORT *.* 3-12-2019 11:12 AM DETAIL LISTING PAGE: 1 FUND 111-WYLIE ECONOMIC REVEL CORP PERIOD TO USE: Feb-2019 THRU Feb-2019 DEPT 611 DEVELOPMENT CORP-WEDC ACCOUNTS: 5611-52010 THRU 5611-58910 POST DATE TRAM #k REFERENCE PACKET DESCRIPTION_--..__-_= VEND INV/tTiE ## NOTE ----AMOUNT==== 5651-52010 OFFICE SUPPLIES BEGINNING BALANCE 481.26 2/19/19 2/1.9 A37074 DFT. 000775 07774 WYLIE DAYS BK COVERS 000912 8277 FEB19 WYGANT 310.00 791.26 2/20/19 2/20 A37t22 CHK: 1019994 07806 OFF SUPP-BKS, PAPER, FOL 000392 27210 WEDC 167.95 959.21 2/20/19 2/20 A371.47 C999 101983 07806 BUS. CARDS 005001 2769 500.00 1,459.21 99-9 H H9HHH FEBRUARY ACTIVITY DB: 977.95 C.R: 0.00 977.95 5611.-52010 POSTAGE & FREIGHT BEGINNING BALANCE 6.70 2/�19/19 2/19 A37074 DFT: 00077.5 07774 B&B INC. CERT MAIL 000912 8277 FEB19 WYGANT 5.25 11.95 FEBRUARY ACTIVITY DB: 5.25 C.R.: 0.00 5.25 5611-52130 TOOLS/ EQUIP (NON-CAPITAL) BEGINNING BALANCE 0.00 5611-52160.. TOOLS/ EQUIP ®..$100-$999.99 BEGINNING BALANCE 0.00 5611-52810 FOOD SUPPLIES BEGINNING BALANCE 503.07 2/1.9/19 2/19 A37074 DFT: 000775 07774 WEDC BRD MTG MEAL 000912 8277 FEB19 WYGANT 9.48 512.,55 2/19/19 2/19 A37074 DPT: 000775 07774 WEDC BRD MTG MEAL 000912 8277 FEB19 WYGANT 112.50 625.0S 2/20/19 2/20 A37131. CHK: 101.990 07806 LEADERSHIP WYLIE 000832 148811.5 WEDC 1.90.00 815.:,05 FEBRUARY ACTIVITY DB: 31.1.98 CR: 0.00 311.98 5611-52990 OTHER BEGINNING BALANCE 0.00 5611-54630 TOOLS & EQUIPMENT BEGINNING BALANCE 0.00 5611-54810 COMPUTER HARD/SOFTWARE BEGINNING BALANCE 2,412.50 3-12-2019 11:12 AM DETAIL LISTING PAGE. 2 FUND . 11:L-WYLIE ECONOMIC DEVEL CORP PERIOD TO USE: Feb-2019 THRU Feb-2019 DEPT : 61:1 DEVELOPMENT CORD-WEDC ACCOUNTS: 5611-52010 THRU 5611-56910 POST DATE TRAN # REFERENCE. PACKET -------DESCRIPTION-- ---- VEND INV/JE # NOTE -----AMOUNT---- ----HALANCF= 5611-54990 OTHER BEGINNING BALANCE 0.00 5611-56030 INCENTIVES BEGINNING BALANCE 53,915.55 2/08/19 2/08 A36164 CUE: 101769 07499 NIKTEN INC 2 OF 2 005148 INCENTIVE#2 10,000.00 63,915.55 2/08/19 2/08 A36165 CHIC: 101763 07499 INCENTIVE 1 OF 1 005220 020619 INC #1 20,000.00 83,915.55 2/15/19 2/15 A36766 CHK: 101908 07690 CLARK STRFET-QTLY STR 003990 021319 WEDC 3,563.56 87,479.11 2/26/19 2/26 A37624 CHK: 102120 07928 EXCO- INCENTIVE 3 OF 4 004522 INCENTIVE 3 022619 20,000.00 107,479.11 - - FEBRUARY ACTIVITY DP.: 53,563.56 CR: 0.00 53,563.56 5611-56040 SPECIAL SERVICES BEGINNING BALANCE 65,785.75 2/06/19 2/06 A35989 CIIK: 101732 07399 PLUMB REPAIR-504 E. BROW 003111 3492 180.75 65,966.50 2/12/19 2/12 A36436 CHK: 101822 07579 PROP. MGMT - BROWN 005262 227 WEDC 7,559.15 73,525.65 2/19/19 2/19 A37039 DFT: 000775 07762 EASEMNT-EUBANKS WTR 000912 8277 FEB19 SATTER 2.21 73,527.86 2/19/19 2/19 A37039 DFT: 000775 07762 EASEMNT EUBANKS WTR 000912 8277 FEB19 SATTER 96.00 73,623.86 2/20/19 2/20 A37134 CBE: 101988 07806 JANITORIAL SERVICE 002330 47244 157.50 73,781.36 2/26/19 2/26 A37622 CIIK: 102124 07928 RETAIL COACH - PMNT 1 / 002287 PAY REQ #1 12,500.00 86,281.36 2/28/19 3/08 B64647 18447 JE30632 RCLS SURVEY REND JE# 030632 974.25CR 85,307.11 ,,,,.,,m m ., FEBRUARY ACTIVITY DB: 20,495.61 CR.: 974.25CR 19,521.36 5611-56080 ADVERTISING BEGINNING BALANCE 15,105.00 2/20/19 2/20 A37129 CHK: 101991 07806 AD-CONNECTION 000468 9172 WEDC 1,500.00 16,605.00 2/20/19 2/20 A37130 CHK 101991 07806 AD-CHAMBER BANNER 000468 9178 WEDC 1,500.00 18,105.00 ...,,,,�� gym .,� FEBRUARY ACTIVITY DB: 3,000.00 CR: 0.00 3,000.00 5611-56090 COMMUNITY DEVELOPMENT BEGINNING BALANCE 18,211.75 2/06/19 2/06 A35987 CHIC: 101724 07399 SPONSOR 2019 002472 013119 2,500.00 20,711.75 2/06/19 2/06 A35996 CHK: 10:I723 07399 INDUSTRIAL APP. CHRISTMA 005215 5231 WEDC 157.50 20,869.25 2/19/19 2/19 A37039 DFT: 000775 07762 KCS-EVENT 000912 8277 FEB19 SATTER 2,000.00 22,869.25 2/20/19 2/20 A37128 CHK: 101991 07806 CHAMBER AUCTION ITEM 000468 9157 WEDC 400.00 23,269.25 2/27/19 2/27 A37662 CHK: 102140 07949 TASTE OF WYLIE SPONSOR 000384 022619 WEDC 1,000.00 24,269.25 =,_- --: FEBRUARY ACTIVITY DB: 6,057.50 CR: 0.00 6,057.50 3-12-2019 11:12 AM DETAIL LISTING PAGE: 3 FUND : 111-WYLIE ECONOMIC DEVEL CORP PERIOD TO USE: Feb-2019 THRU Feb-2019 DEPT . 611 DEVELOPMENT CORP-WEDC ACCOUNTS: 5611-52010 THRU 5611-58910 POST DATE TRAN # REFERENCE PACKET DESCRIPTION---- ---- VEND INV/JE # NOTE ----=-=AMOUNT ------- ----BALANCE= = 5611-56110 COMMUNICATIONS BEGINNING BALANCE 2,060.57 2/1.1/19 2/11 A36288 CHK: 101786 07539 INTERNET WEDC 71325-FE24 004566 2101577989 JAN25-F 226.38 2,286.95 2/19/19 2/19 A37039 OFT: 000775 07762 TELEPHONE SERVICE 000912 8277 FER19 SATTER 177.85 2,464,80 2/20/19 2/20 A37133 CHK: 101989 07806 TABLET SERVICE 001797 822495799-07 JAN19 113.97 2,57E3.77 - FEBRUARY ACTIVITY DB: 518.20 CR: 0.00 518.20 5611-56180 RENTAL BEGINNING BALANCE 9,582.00 2/06/19 2/06 A35990 CHIC: 101733 07399 WOOL OCC RENT-FEB 19 003231 012819 FEB19 2,250,00 11,832.00 2/08/19 2/08 A36156 CHK: 101753 07499 COPIER RENTAL 003509 108144 194.00 12,026.00 2/27/19 2/27 A37674 CHK: 102141 07949 RENT - MARCH 003231 022619 WEDC 2,250.00 14,276.00 .m..” FEBRUARY ACTIVITY DB: 4,694.00 CR: 0.00 4,694.00 5611-56210 TRAVEL I TRAINING BEGINNING BALANCE 4,823.01 2/15/19 2/15 A36764 CIIK: 101909 07687 021419 BUSINESS MEETINGS 000317 021419 DUES/BUSH 369.36 5,192,.37 2/19/19 2/19 A37003 OFT: 000775 07755 ICSC RED RVR-GREINER 000912 8277 FEB19 GREINER 125.00 5,317,37 2/19/19 2/1.9 A37003 OFT: 000775 07755 TEDC-WNTR CONF-GREIN 000912 8277 FEB19 GREINER 450.00 5,767...37 2/19/19 2/19 A37003 OFT. 000775 07755 ICSC RD RVR-RKG-GREI 000912 8277 FEB19 GREINER 3.35 5,770.,72 2/19/19 2/19 A37003 OFT: 000775 07755 ICSC RD RVR-PKG-GREI 000912 8277 FEB19 GREINER 1.75 5,772,47 2/19/19 2/19 A37003 OFT: 000775 07755 ICSC RD RVR-PKG-GREI 000912 6277 FEB19 GREINER 2.85 5,775.32 2/1.9/19 2/19 A37003 OFT: 000775 07755 KCS EVENT-UBER-GRF.IN 000912 8277 FEB19 GREINER 33.95 5,809..27 2/19/19 2/19 A37003 OFT: 000775 07755 BUS MTG-POR 000912 8277 FEB19 GREINER 48.22 5,857.49 2/19/19 2/19 A370.39 OFT: 000775 07762 PRJ UP-BROKAW 000912 8277 FEB19 SATTER 34.25 5,891-,74 2/19/19 2/19 A37039 DFT¢ 000775 07762 BUS. MTG-KCS 000912 8277 FE019 SATTER 61.85 5,953„59 2/19/19 2/19 A37039 OFT: 000775 07762 BUS MTG-ROCKING M 000912 8277 FEB19 SATTER 43.26 5,996.85 2/19/19 2/19 A37039 OFT: 000775 07762 BUS. MTG-RP REAL EST 000912 8277 FEB19 SATTER 18.5E 6,015,43 2/19/19 2/19 A.37039 OFT: 000775 07762 BUS. MTG-RTCIIMOND 000912 6277 FEB19 SATTER 27.34 6,042,77 2/20/19 2/20 A37104 CHK¢ 101974 07801. 021419 BUS MEETINGS 00031.7 021419 MTG/DUES 42.25 6,965.02 . m,, - _ .- FEBRUARY ACTIVITY DB: 1,262.01 CR: 0.00 1,262.01 5611-56220 PROFESSIONAL TRAINING - - - BEGINNING BALANCE 0.00 5611-56250 DUES 4 SUBSCRIPTIONS 3-12-2019 11:12 AM DETAIL LISTING PAGE: 4 FUND : 111-WYLIE ECONOMIC DEVEL CORP PERIOD TO USE: Feb-2019 THRU Feb-2019 DEPT : 611 DEVELOPMENT CORP-WEDC ACCOUNTS: 5611-52010 THRU 5611-58910 POST DATE TRAM # REFERENCE PACKET DESCRIPTIONVEND INV/JE # NOTE --AMOUNT-- --BALANCE-- BEGINNING -------BALANCE==== B E G I N N I N G BALANCE 9,825,34 2/15/1.9 2/15 A36764 CHK: 101909 07687 021419 DUES 000317 021119 DUES/3U514 710.67 10,536.01 2/20/19 2/20 A37104 CHK: 101974 07801 021419 DUES 00031/ 021.419 MTG/DUES 840.97 11,376.98 2/20/19 2/20 A37132 CHK: 101992 07806 WDMA MEMBERSHIP-ANNUAL 001078 427 WEDC 100,00 11,476.98 m.- ,,,,., ,.�. FEBRUARY ACTIVITY DBE 1,651,64 CR: 0,00 1,651.64 5611.--56310 INSURANCE BEGINNING BALANCE 4,040.19 2/20/19 2/20 A37121 CHK: 101993 07806 BLANKET BOND RENEWAL 000387 380 WEDC 303.00 4,343.19 2/28/19 2/28 C64532 RCPT 01046949 27626 REND PROP ENDORSEMENT 338.46CR 4,004.71 _--_- -,-. = FEBRUARY ACTIVITY DB: 303.00 CR: 338.46CR 35.48CR 5611-56510 AUDIT & LEGAL SERVICES BEGINNING BALANCE 13,274,50 2/08/19 2/08 A36163 CHK: 101761 07499 ENV, REVIEW-KIRBY 004947 33436 WEDC 5,985.00 19,259.50 2/20/19 2/20 A37116 CIIK: 101975 07806 ATTY FEES-EASEMENT 000023 106 2793-0001M WED 120.00 19,379.50 2/20/19 2/20 A37117 CHK: 101975 07806 ATTY FEES- ROW WEATH 000023 4-2793-0086M WEDC 740.00 20,119.50 b ,+_--_-- - _-_ FEBRUARY ACTIVITY DB: 6,845.00 CR: 0.00 6,845.00 5611-56570 ENGINEERING/ARCHITECTURAL BEGINNING BALANCE 5,349.99 2/06/19 2/06 A35980 CHK: 101721 07399 FM 544 WATERLINE ENG. 000325 14791 2018161 WEDC 7,539.57 12,889.56 2/06/19 2/06 A35980 CIIK: 101721 07399 CREDIT OVER PAYMENT 000325 14791 2018161 WEDC 3,737.99CR 9,151.57 2/06/19 3/08 B64639 18443 JE30628 RCLS CHK#101721 JE# 030624 3,737.99 12,899.56 2/06/19 3/08 B64639 18443 JE30628 RCLS CHK#101721 JE# 030624 7,539.57CR 5,349,99 FEBRUARY ACTIVITY DB: 11,277.56 CR: 11,277.56CR 0,00 5611-56610 UTILITIES-ELECTRIC BEGINNING BALANCE 1,685.82 2/27/19 2/27 A37661 CHK: 102131 07949 605 COMM- WATER 000101 126-0541-00 JAN19 61,94 1,747.76 2/28/19 2/2R A37770 CIIK: 102158 07971 UTILITIES-WATER WEDC 003302 1.22-1040-01. JA14-F 22.79 1,770.55 2/28/19 2/28 A37771 CHK: 102158 0'7971 UTILITIES-ELEC WEDC 003302 3029287066 JA4-FE4 50,95 1,821.50 2/28/19 2/28 A37772 CHK: 1.021.58 07971 UTILITIES-GAS WEDC 003302 3029287066 JAN-FEB 28.11. 1,349.61 - =_- --+-__'^'-- FEBRUARY ACTIVITY DR: 163.79 CR: 0.00 163.79 3-12-2019 11:12 AM DETAIL LISTING PAGE: 5 FUND : 111-WYLIE ECONOMIC DEVEL CORP PERIOD TO USE: Feb-2019 THRU Feb-2019 DEPT : 611 DEVELOPMENT CORP-WEDC ACCOUNTS: 5611-52010 THRU 5611-58910 POST DATE TRAN # REFERENCE PACKET----- DESCRIPTION =----- VEND INV/JE # NOTE ----AMOUNT— --BALANCE-- 5611-57110 DEBT SERVICE BEGINNING BALANCE 0,00 5611-57410 PRINCIPAL PAYMENT BEGINNING BALANCE 143,407.01 2/01/19 2/07 061296 Bnk Oft 020119 18352 JE30444 K&M PMT #41 JE# 030444 8,515,50 151,922.51 2/08/19 2/14 B64359 Bnk DLL 020819 18374 JE30493 PEDDICORD/WHITE PMT#50 JE# 030493 5,760,59 157,683.10 2/15/19 2/18 064442 Bnk Dft 021519 18387 JC30519 NB PKWY PMT #54 JE# 030519 12,476.72 170,159.62 2/15/19 2/15 A36765 CHIC 101907 07690 ANB LOAN 88149711 003207 88149711 459,338.38 629,498.60 2/22/19 2/27 064516 Bnk DEL 022219 18409 2E30560 BUCHANAN PMT#54 JE# 030560 7,172,71 636,671.31 2/22/19 2/27 864518 Bnk Oft 022219 18409 2E30562 JARRARD PROP #26 JE# 030562 2,178.78 638,850.09 FEBRUARY ACTIVITY 00 495,443,08 CR: 0.00 495,443.08 -------------------------------------------------------------------------------------------------_________________—____________ 5611-57415 INTEREST EXPENSE BEGINNING BALANCE 46,745.05 2/01/19 2/07 B64296 Bnk OIL 020119 18352 JE30444 K&M PMT #41 JE# 030444 229.75 46,974.80 2/08/19 2/14 B64359 Bnk Dft 020819 18374 JE30493 PEDDICORD/WHITE PMT#50 JE# 030493 1,621.86 48,596.66 2/12/19 2/12 A36479 OFT: 000767 07587 ANB LN 3982 - PMNT 2 003207 88193982-021219 7,609,56 56,206.22 2/15/19 2/18 064442 Bnk Oft 021519 18387 JE30519 WB PEW? PMT #54 JE# 030519 791.21 56,997,43 2/15/19 2/15 A36765 011R: 101907 07690 ANR LOAN 88149711 003207 88149711 266.62 51,264.05 2/22/19 2/27 B64516 Bnk Dft 022219 18409 JE30560 BUCHANAN PMT#54 JE# 030560 159.24 57,423.29 2/22/19 2/27 864517 Bnk Ott 022219 18409 JE30561 DALLAS WEIIRLPL PMT#27 JE# 030561 6,888.86 64,312.15 2/22/19 2/27 064518 Bnk Oft 022219 18409 JE30562 JARRARD PROP #26 JE# 030562 930,37 65,242.52 -- FEBRUARY ACTIVITY DR: 18,497.47 CR: 0,00 18,497.47 5611-57710 BAD DEBT EXPENSE BEGINNING BALANCE 0.00 5611-58110 LAND-PURCHASE PRICE BEGINNING BALANCE 2,064,144.30 2/08/19 2/08 A36155 CHK: 101768 07499 701 S RALIRD-EARNEST 003164 020619 WEDC 5,000.00 2,069,144.30 2/08/19 2/08 A36166 CHK: 101756 07499 701 S. BALLARD - OPTION 005258 020619 WEDC 1,400.00 2,070,544,30 2/12/19 2/12 A36480 DFT: 000768 07587 WEATHERFORD PURCHASE 005251 RW181007 738,538.00 2,809,082.30 2/26/19 2/26 A37657 OFT 000776 07940 BROTHERS JV PURCHASE 003164 1901351800568 143,423,04 2,952,505.34 2/27/19 2/27 A37735 DFT: 000777 07957 PULLIAM PURCH-300 2ND ST 003164 1901351800608 215,972.20 3,168,477.54 FEBRUARY ACTIVITY DB: 1,104,333,24 CR: 0.00 1,104,333.24 3-12-2019 11:12 AM DETAIL LISTING PAGE: 6 FUND : 111-WYLIE ECONOMIC DEVEL CORP PERIOD TO USE: Feb-2019 THRU Feb-2019 DEPT : 611 DEVELOPMENT CORD-WEDC ACCOUNTS: 5611-52010 THRU 5611-58910 POST DATE TRAN # REFERENCE PACKET ----------DESCRIPTION----- ------- VEND INV/JE # NOTE AMOUNT---- ----BALANCE,==== 5611-58120 DEVELOPMENT FEES BEGINNING BALANCE 0.00 5611.-58150 LAND-BETTERMENTS BEGINNING BALANCE 0.00 5611-58210 STREETS & ALLEYS BEGINNING BALANCE 38,680,00 2/06/19 3/08 B64639 18443 JE30628 RCLS CHK#101721 JE# 030624 7,539,57 46,219,57 2/06/19 3/08 B64639 18443 JE30628 RCLS CHK#101721 JE# 030624 3,737.99CR 42,481.58 2/20/19 2/20 A37119 CHK: 101978 07806 F44 WATERLINE 000325 14856 2018161 WEDC 3,799.97 46,281,55 2/26/19 2/26 A37619 CHK. 102122 07926 BALLARD ALLEY 001910 4155 WEDC 111,155.00 157,436,55 2/26/19 2/26 A37620 CHK: 102122 07928 ADD°L CONCRETE-PKG 001910 4156 WEDC 8,010,00 165,446,55 FEBRUARY ACTIVITY DB: 130,504,54 CR: 3, 137,99CR 126,766.55 561u.-58410 SANITARY SEWER BEGINNING BALANCE 0.00 5611-58810 COMPUTER HARD/SOFTWARE BEGINNING BALANCE 0,00 5611-58830 FURNITURE & FIXTURES BEGINNING BALANCE 0.00 5611-58910 BUILDINGS BEGINNING BALANCE 0.00 000 ERRORS IN THIS REPORT! * * * + * * * * * * * * * * ** REPORT TOTALS ** --- DEBITS --- --- CREDITS --- BEGINNING BALANCES: 2,500,039.36 0,00 REPORTED ACTIVITY: 1,859,905.38 16,328.28CR ENDING BALANCES„ 4,359,944,74 16,328.28CR TOTAL FUND ENDING BALANCE: 4,343,61.6.46 Wylie Economic Development Corporation Balance Sheet Sub Ledger February 28, 2019 Notes Payable Date of Rate of Principal Purchase Payment BeginningBaL Principal Interest Interest Balance February 1, 2019 5,880,540.33 ANBTX-88130976 WOODBRIDGE PKWY (#54 of 80) 8/15/14 13,267.93 362,491.04 12,476.72 791.21 2.61 350,014.32 ANBTX-88148481 BUCHANAN(#54 of 60) 8/13/14 7,331.95 50,684.89 7,172.71 159.24 3.77 43,512.18 ANBTX-88149711 PEDDICORD/WHITE(Payoffo) 12/12/14 7,382.45 459,338.78 459,338.78 266.62 4.20 0.00 ANBTX-88158043 K&M/HOBART(#41'of 48) 9/2/15 8,745.25 68,924.38 8,515.50 229.75 4.00 60,408.88 ANBTX-88158357 DALLAS WHIRLPOOL(#27 of 60) 11/22/16 varies 2,000,000.00 0.00 6,888.89 4.00 2,000,000.00 JARRARD GRAYS AUTO(#26 OF 120) 12/1/16 3,109.15 248,098.57 2,178.78 930.37 4.50 245,919.79 ANBTX-88193982 ANB-BROWN&78(#2 OF 60)* 12/12/18 varies 1,631,909.53 0.00 7,609.56 5.25 1,631,909.53 February 28, 2019 $489,682.49 $16,875.64 $4,331,764.70 * Beginning balance is balance associated with above payment. Actual Loan Balance drawn as of Feb 28, 2019 is$3,061,351.93. Highway 78 Brown-ANB Loan#88193982 ANB - Draw Loan $4,500,000 Draw#1 - 12/13/18 204,775.58 O'Donald Property-410 E. Brown Draw#2 - 12/19/18 1,250,391.20 Karan Property-300 E. Brown Draw#3 - 1/3/19 176,742.75 Wallace Property-502 E. Brown Weatherford Property-303 E. Marble ($741,856.21); O'Donald - Fees ($510); Earnest Reimbursement- Weatherford ($15,000); Turner Draw#4- 1/25/19 1,065,042.66 Property-504 E. Brown ($307,676.45-closed prior to loan) Brothers JV-306 and 308 N. 2nd Street ($145,923.04); Pulliam-300 Draw#5-2/25/19 364,399.74 N. 2nd Street($218,476.70). Principal Balance: 3,061,351.93 Interest Only payments 1/12/19 through 6/12/19. Principal & Interest Payments begin 7/12/19 through maturity date (12/12/23). Payments: Date Interest Principal Total Payment 1 of 60 1/12/2019 $3,694.02 $0 $3,694.02 2 of 60 2/12/2019 7,609.56 $0 7,609.56 Total Paid: $11,303.58 $11,303.58 Balloon payment due 12-12-23. Wylie Economic Development Corporation Inventory Subledger February 28, 2019 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 FFA Village 1/7/18 102. N. Birmingham 0.17 35,390 910 99,804 1,217,760 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 &78 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 O'Donald 1/7/19 410 E. Brown 0.19 64,421 940 177,044 Weatherford 2/12/19 303 Marble 2.17 62,984 3,529 757,488 Brothers JV 2/26/19 306 & 308 N. 2nd Stn 0.38 n/a 145,923 Pulliam 2/27/01 300 N. 2nd Street 2.57 122,764 1,364 218,472 3,062,273 Total 35.54 $1,823,230 93,577 $10,971,705 $10,971,705 *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-18 Nov-18 Dec-18 Jan-19 Feb-19 Mar-19 Helical Concepts 1st 3/26/18 4/24/18 5/21/18 6/25/18 7/26/18 8/24/18 9/26/18 10/29/18 11/26/18 12/31/18 1/24/19 3/1/2019 , 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 1/15/19 2/18/19 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 2/10/19 3/4/2019 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 2/11/19 3/12/2019 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 2/11/19 3/12/2019 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 2/11/19 3/12/2019 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 2/4/19 3/1/2019 (*)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 January 2019 DATE PAYEE AMOUNT PURPOSE INDIVIDUAL/GROUPS PRESENT 01/15/19 Glorias 34.25' Project Update Satterwhite, Brokaw 01/15/19 AAC 2,000.00 Busines Event WEDC, KCS, Development Partners 01/16/19 Urban Rio 61.851 Business Meeting WEDC, KCS 01/16/19 Villa Vinci 43.26' Busines Meeting WEDC, Rocking M 01/22/19 Rosas Café 18.58 Business Meeting WEDC, RP Real Estate 01/25/19 IHOP 27.34 Business Meetin• WEDC, Richmond 01/25/10 Collin County Clerk 98.21 Plat Filing Fee-Eubanks Easement n/a 12/02/18 Cytracom 177.85 Telephone Service n/a TOTAL 2,461.34 WEDC Assistant Director JPMorgan Chase Expense Report January 2019 DATE VENDOR PURPOSE AMOUNT 1/10/19 ICSC ISCS Red River Conference- Registration 125.00 1/11-12/2019 Park Mobile ICSC Red River- Parking 7.95 1/18/19 Uber KCS Event 33.95 1/24/19 Johnny's Mexican Business Meeting - PDR 48.22 1/25/19 TEDC TEDC Winter Conference 450.00 Total 665.121 WEDC Senior Assistant JPMorgan Chase Expense Report January 2019 DATE VENDOR PURPOSE AMOUNT 1/21/19 Tom Thumb WEDC Board Meeting Meal 9.48 1/21/19 Chiloso WEDC Board Meeting Meal 112.50 1/28/19 Dallas Letterpress Wyile Days- Book Covers 310.00 1/29/19 USPS Certified Letter- B&B 5.25 Total 437.23 WYLIE ECONOMIC DEVELOPMENT CORPORATION SALES TAX REVENUE FOR THE MONTH OF MARCH 2019 MONTH WEDC WEDC WEDC WEDC DIFF % DIFF 2016 2017 2018 2019 18 VS 19 18 VS 19 DECEMBER $166,418 $197,808 $184,849 $214,867 $30,019 15.18% JANUARY 163,463 196,347 191,896 223,750 31,854 16.60% FEBRUARY 260,166 276,698 275,668 307,367 31,699 11.50% MARCH 167,082 191,648 182,852 208,222 25,370 13.87% APRIL 154,920 168,844 163,485 MAY 238,646 244,816 203,707 JUNE 180,194 191,732 199,412 JULY 212,620 223,571 213,977 AUGUST 268,976 261,573 249,590 SEPTEMBER 197,339 210,974 213,426 OCTOBER 201,506 195,549 210,702 NOVEMBER 270,426 267,816 273,197 Sub-Total $2,481,757 $2,627,376 $2,562,759 $954,206 $118,941 14.24% AUDIT ADJ TOTAL $2,481,757 $2,627,376 $2,562,759 $954,206 $118,941 14.24% WEDC SALES TAX ANALYSIS $350,000 $300,000 - mm �� - . ...,: 1 $250,000 ..� $200,000 _- : 11 ' ; J II n IjJJ : a� • ylie cono is I eve o i ent Corporation E ORA DU TO: WEDC Board of Directors FROM: Samuel Satterwhite, Executive Director SUBJECT: Taylor and Son Properties, LLC DATE: March 15, 2019 Issue Consider and act upon issues surrounding a Purchase and Sale Agreement between the WEDC and Taylor and Son Properties, LLC. Analysis Attached for the Board's review is a Purchase and Sale Agreement between the WEDC and Taylor and Son Properties, LLC. The WEDC purchased the ±0.17-acre tract on Birmingham Street from FFA Village, LLC in 2018 for $99,000 and is expending $5,500 for the demolition of the existing structure,thus creating a purchase price of$104,500. The WEDC originally placed the property under contract to complement its holdings on Birmingham Street. However, the opportunity to attract a minimum, 3,500 square foot office building which meets the development standards established under the Downtown Historic District, provides an immediate opportunity to augment the commercial investment by multiple property owners in existing homes on Ballard and Jackson. The Agreement identifies a 180-day due diligence period and a 30-day close. Under Article XI, should Purchaser fail to obtain a building permit from the City of Wylie for the contemplated office project by February 1, 2020, the WEDC shall have the right to repurchase the property from the Purchaser for an amount equal to the purchase price. Recommendation Staff recommends that the WEDC Board of Directors approve a Purchase and Sale Agreement between the WEDC and the Taylor and Son Properties, LLC and further authorize WEDC President Brokaw to execute all documentation necessary to effectuate the transaction. Attachments Purchase and Sale Agreement PURCHASE AND SALE AGREEMENT THIS PURCHASE AND SALE AGREEMENT (this "Agreement") is made and entered into by and among WYLIE ECONOMIC DEVELOPMENT CORPO TION, a Texas non-profit corporation("Seller") and TAYLOR AND SON PROPERTIES, LLC, a Texas limited liability company ("Purchaser"). ARTICLE I. 1.01. The Property. Subject to the terms and conditions hereinafter set forth, Seller agrees to sell and convey to Purchaser good and indefeasible title by Special Warranty Deed which is more particularly described below (the "Deed"), all of that certain real estate and any improvements located thereon, being an approximate ±0.17 acre tract of land, Lot 7, Block 2 located in Keller's First Addition, an addition to the City of Wylie, Collin County, Texas, as described herein on Exhibit "A" and as further depicted herein on Exhibit"A-I" (the "Land"), together with any and all benefits, privileges, tenements, hereditaments, rights and appurtenances thereon or pertaining to the Land, and all right, title and interest of Seller in and to in and to adjacent streets, alleys or rights-of-way, together with any strips or gores relating to the Land (collectively,the "Property"). ARTICLE II. PURCHASE PRICE 2.01. Amount of Purchase Price. The purchase price shall be the sum of One-Hundred Four Thousand Five Hundred and No/100 dollars ($104,500) ("Purchase Price"), which Purchase Price shall be adjusted at Closing for any prorations and closing costs, as set forth in this Agreement. The Purchase Price will be paid by Purchaser to Seller at Closing by cash, check, wire transfer or other immediate available funds. ARTICLE III. ESCROW DEPOSIT 3.01. Upon the full execution of this Agreement, Purchaser shall deliver to Lawyer's Title, Attn: D. Barron Cook, 250 South Highway 78, Wylie, Texas 75098 (972) 442-3541 PSA-Wylie EDC/Sale to Taylor and Son Properties,LLC. Page 1 2359265_3 (telephone); Email: baron.cook@lticao.com (the "Title Company"), a wire transfer, cashier's check or other same day certified funds in the total amount of One Thousand and no/100 dollars ($1,000.00), as an escrow deposit (the "Escrow Deposit"). Purchaser and Seller agree that One Hundred and no/100 dollars ($100.00) of the Escrow Deposit is given as independent consideration for the Agreement ("Independent Consideration"), which Independent Consideration shall be applied to the Purchase Price at Closing, and shall be paid to Seller in the event the Escrow Deposit is otherwise returned to Purchaser pursuant to the terms of this Agreement. In the event Purchaser fails to timely deliver the Escrow Deposit to the Title Company, this Agreement shall automatically terminate and be of no further force or effect and Seller and Purchaser shall be relieved from all liabilities or obligations hereunder. ARTICLE IV. CONDITIONS TO CLOSING 4.01. Contin encies. The obligation of the Purchaser to consummate the transaction contemplated hereby is subject to the satisfaction of each of the conditions herein contained (any of which may be waived in whole or in part by Purchaser at or prior to the Closing): (a) Survey. Within ten (10) days after the Effective Date of this Agreement, Seller shall cause to be delivered to Purchaser the existing survey of the Property ("Survey"), which will be updated and which shall otherwise be in a form acceptable to the Title Company in order to allow the Title Company to delete at Purchaser's election and expense, the survey exception (except as to "shortages in area") from the Owner's Title Policy to be issued by the Title Company. If and to the extent required by the Title Company, Seller shall execute any and all affidavits required by the Title Company in order for such Survey to be used for issuance to Purchaser of an Owner Title Policy in the form required by Purchaser. The Survey shall be staked on the ground, and the plat of survey shall show the legal description, boundary lines and the location of all improvements, highways, streets and roads (including the right-of-way and pavement widths of each), signal lights, median breaks, curb-cuts, railroads, rivers, creeks, or other water courses, fences, flood plain as defined by the Federal Emergency Management PSA-Wylie EDC/Sale to Taylor and Son Properties,LLC. Page 2 2359265_3 Agency ("FEMA"), easements (both current and those to be granted), and rights-of-way on or adjacent to the Property and shall set forth the number of total gross square feet comprising the Property. After approval of the Survey by Seller, Purchaser and the Title Company, the legal description of the Property set forth in the Survey will be incorporated in this Agreement as the legal description of the Property, and will be used in the deed and any other documents requiring a legal description of the Property (unless the Plat is finalized and recorded as provided in this Agreement in which event the legal description contained in the Plat shall be used for the deed and any other closing documents requiring a legal description). (b) Preliminary Title Commitment. Within fifteen (15) days after the Effective Date of this Agreement at Seller's sole cost and expense, Seller shall cause the Title Company to issue to Purchaser a preliminary title commitment (the "Title Commitment") in the amount of the anticipated Purchase Price on the current TLTA Owner's Title Policy form accompanied by true, correct and legible copies of all recorded documents relating to easements, rights-of-way, and any instruments referred to in any schedule of the Title Commitment (the "Title Documents"). With regard to the Title Commitment, Schedule B of the Title Commitment must comply with the following requirements: (a) the exception for restrictive covenants must either list specific restrictions with recording data, or state "none"; (b)the survey exception must reflect that it will be deleted, except as to shortages in area, at Purchaser's expense (and Schedule C may condition such deletion upon the presentation of an acceptable survey); (c) the exception for taxes must reflect only the current year and subsequent years, and subsequent taxes for prior years due to change in land use or ownership; (d) no exception will be permitted for "visible and apparent easements" or words to that effect (although reference may be made to any specific easement or use shown on the survey); (e) no exception will be permitted for "rights of parties in possession" or "rights of tenants in possession"; and (f) no mortgage will be shown on Schedule B (with any other indebtedness to be shown on Schedule C as to be released at Closing). (c) Title Review Period. Purchaser shall have twenty (20) days (the "Review Period") after Purchaser's receipt of the later of the Survey, the Title Commitment and the Title Documents to review the same and deliver in writing to Seller such objections as PSA-Wylie EDC/Sale to Taylor and Son Properties,LLC. Page 3 2359265_3 Purchaser may have to anything contained in them (the "Objection Notice"). Notwithstanding anything contained in this Agreement to the contrary, in all events and regardless of whether Purchaser objects to such exceptions, on or before the Closing, Seller shall do the following: (i) discharge any voluntary lien created by Seller that is secured by any portion of the Property; (ii) discharge any lien for delinquent ad valorem taxes; (iii) discharge any mortgage or deed of trust encumbering the Property; and (iv) discharge or bond around any mechanics' liens created by a contractor or subcontractor performing work for and at the direction of Seller. In the event Purchaser states that any of the Survey, Title Commitment, Title Documents or any item therein contained, is not satisfactory, Purchaser may either: (a) terminate this Agreement and have the Escrow Deposit returned to Purchaser; or (b) conditionally accept title subject to Seller's obligations contained in this Agreement and subject to Seller's removal or written agreement to remove at Closing of any matters contained in such Objection Notice within fifteen (15) days from receipt of such Objection Notice (the "Title Cure Period"), in which case Seller may elect, at its sole option, to use commercially reasonable efforts to remove or cure such objectionable matters, but shall have no duty or obligation to remove or cure any of such objectionable matters (except as otherwise required in this Agreement or in Seller's written agreement to remove such matters). If Seller cannot remove or cure such matters before the expiration of the Title Cure Period that can be removed or cured prior to Closing (but not any items required to be removed or cured as of Closing), or if Seller elects not to remove or cure any of Purchaser's objections, then at Purchaser's election within ten (10) days following the expiration of the Title Cure Period, Purchaser may either waive its uncured objections or terminate this Agreement and have the Escrow Deposit forthwith returned to Purchaser. Failure by Purchaser to give affirmative written notice to Seller and Title Company that it elects to waive the matters set forth in the Objection Notice on or before five (5) days after the expiration of the Title Cure Period shall not be deemed to be a termination of this Agreement. Purchaser hereby agrees that the lien for taxes for the year of Closing from the date of Closing and subsequent days, as prorated, the Restrictions and any items not objected to timely by Purchaser shall hereinafter be deemed to be permitted exceptions (the "Permitted Exceptions"), and Purchaser shall not be entitled to object to the status of PSA-Wylie EDC/Sale to Taylor and Son Properties,LLC. Page 4 2359265_3 title,the Survey or avoid the Closing on account of such Permitted Exceptions. (d) Proposed Use. Purchaser's obligation to close on the Purchase of the Property is further subject to and contingent upon each and all of the following being confirmed or satisfied by the Purchaser at Purchaser's sole cost and expense (unless otherwise specified herein): (i) No material adverse changes to the Property shall have occurred subsequent to the Effective Date of the Agreement and prior to the Closing Date. (ii) The Property is properly zoned for the intended improvements and proposed use. 4.02. Due Diligence Materials. Within ten (10) days from the Effective Date of this Agreement, Seller shall deliver to Purchaser any and all of the following which Seller has in its possession that relate to the Property or adjacent tracts of land (herein collectively "Due Diligence Materials"): (a) copies of any environmental assessments, remediation reports, certifications and reports regarding releases and evidence of compliance of such remediation with all Texas Commission on Environmental Quality ("TCEQ") requirements; (b) copies of any existing surveys, site topographical map and existing engineering reports, soils reports or studies, geotechnical reports, and engineering plans; (c) copies of all reciprocal easement agreements ("REA's") and reports in Seller's possession; (d) the utility plans or grading plans (and approvals) that Seller has either acquired or obtained or created in connection with Seller's acquisition and/or the adjacent properties; (e) Any other items in Seller's possession relating to the Property and/or the adjacent properties; and The delivery of such Due Diligence Materials by Seller to Purchaser does not constitute any representation on the part of Seller that the information contained therein is true, accurate or complete. If Seller receives additional Due Diligence Materials, Seller shall immediately deliver same to Purchaser. PSA-Wylie EDC/Sale to Taylor and Son Properties,LLC. Page 5 2359265_3 4.03. Feasibility Period. Purchaser shall have a period of one-hundred eighty (180) days following the effective date of the Agreement (the "Feasibility Period") within which to ascertain if acquisition of the Property by Purchaser is feasible and to inspect the Property in order to complete all feasibility studies, including but not limited to the replat, site plan, construction drawings, and other necessary approvals from the City of Wylie to proceed to closing to determine if the same is suitable for Purchaser's intended use. In the event Purchaser notifies Seller in writing on or before 5:00 p.m. on the last day of the Feasibility Period, as may be extended, that Purchaser has ascertained that the acquisition of the Property is not feasible or that Purchaser disapproves or is dissatisfied in any way with the Property, such determinations to be made in Purchaser's sole and absolute discretion, then this Agreement shall terminate and the Escrow Deposit (as defined herein) delivered by Purchaser to Title Company shall be returned to Purchaser; provided however that the Independent Consideration shall be paid to Seller by the Title Company. In the event Purchaser fails to so notify Seller in writing prior to the expiration of the Feasibility Period of Purchaser's election to terminate this Agreement, this Agreement shall continue in full force. Seller hereby grants to Purchaser during the Feasibility Period the right to enter upon the Property and conduct such tests as Purchaser deems necessary. Purchaser shall indemnify, defend, and hold harmless Seller from all claims, actions or causes of action, other than those resulting from Seller's negligence or malfeasance, which might occur by virtue of the entry upon or testing of the Property and provided further that in the event Purchaser does not return the Property to its condition prior to Purchaser's activities, Purchaser shall be responsible for all damages occasioned to the Property arising out of the entry upon or testing of the Property, and this indemnity and covenant will survive the Closing or termination of this Agreement for a period of six (6) months. Notwithstanding the delivery of the above described studies and test, if any, Purchaser acknowledges that any information of any type which Purchaser has received or may receive from Seller, or its agents, is furnished to Purchaser as a courtesy only and on the express condition that Purchaser shall make an independent verification of the accuracy of such information, all such information is being furnished without any representation or warranty by Seller as to the truth, accuracy, or completeness of such information, other than the representations and warranties contained herein. Purchaser shall use good faith efforts to notify Seller in advance of any meetings or conferences with employees, PSA-Wylie EDC/Sale to Taylor and Son Properties,LLC. Page 6 2359265_3 officials or representatives of the City of Wylie and shall give Seller an opportunity to participate in the same. 4.04. Platting of the Property. Purchaser shall have the right to re-plat the Property prior to the Closing at Purchaser's sole cost and expense, but such re-platting will not be a condition of closing. Purchaser acknowledges that the Property may have to be re-platted prior to development of the Property. 4.06. Conditions to Purchaser's Obli ations to Close. Purchaser's obligation to close the Purchase of the Property are conditioned on the following: (a) Seller's representations and warranties set forth in this Agreement are true, complete and correct, in all material respects both as of the date of this Agreement and as of the Closing; and (b) Seller has fully performed all of the obligations to be performed by Seller, in all material respects. If the items above have not been satisfied, verified or otherwise waived by Purchaser in writing, on or before the Closing, Purchaser may elect: (i) by five (5) days' prior written notice to Seller and the Title Company, cancel this Agreement and Purchaser shall thereupon receive the Escrow Deposit; or (ii) treat such failure as a breach by Seller of its obligations under this Agreement. 4.07. Conditions to Seller's Obligations to Close. Seller's obligation to close this transaction is subject to the satisfaction, or waiver by Seller in writing of the following conditions on and as of Closing: (a) Purchaser's representations and warranties set forth in this Agreement are true, complete and correct, in all material respects and (b) Purchaser has fully performed all of its obligations to be performed by Purchaser, in all material respects. If the items above have not been satisfied or otherwise waived by Seller in writing, subject to Seller's performance of all of its obligations hereunder, on or before the Closing, Seller may, as its sole remedy, by five (5) days' prior written notice to Purchaser and the Title Company, cancel this Agreement and Seller shall thereupon receive the Escrow Deposit. PSA-Wylie EDC/Sale to Taylor and Son Properties,LLC. Page 7 2359265_3 ARTICLE V CLOSING 5.01. Closing Date. The Closing of the purchase and sale transaction contemplated herein shall be at the offices of the Title Company, on or before thirty (30) days following the expiration of the Feasibility Period (the "Closing Date"). The base title policy premiums shall be paid by Seller and allocated in accordance with each of their respective interests, and any endorsements or extended coverage shall be paid by Purchaser. Any survey costs and platting expenses shall be allocated to the Seller and Purchaser equally. The Seller shall pay the costs of recording any releases, and one-half of the cost of recording the Deed. The Purchaser shall pay one-half of the cost of recording the Deed, and the cost of and any lender costs on its side of the transaction. The escrow fees shall be allocated in accordance with each party's respective interests and both parties agree that each party will pay one-half of such fees. All other costs shall be allocated among the Parties, as is customary for a transaction of this character in the county where the Property is located, or as otherwise agreed. 5.02. Seller Deliverables at Closing. At Closing, Seller shall: (a) Deliver to Purchaser the duly executed and acknowledged Special Warranty Deed in the form attached hereto as Exhibit "B," conveying good and indefeasible title in fee simple to the Property, free and clear of any and all liens, encumbrances, conditions, easements, assessments, and restrictions, except for the following: (i) Ad Valorem taxes and assessments for the year of Closing (from and after the date of Closing) and subsequent years not yet due and payable, which shall be pro-rated as of the Closing Date; (ii) Permitted Exceptions (to be reviewed and approved by Purchaser); and (iii) Any other exceptions approved by Purchaser pursuant to this Agreement or in writing; (c) Deliver to Purchaser at Seller's sole cost and expense, a current TLTA form Texas Owner's Title Policy issued by the Title Company in Purchaser's favor in the full amount of the Purchase Price, insuring Purchaser's fee simple title to the Property, subject only to the Permitted Exceptions, and the standard pre-printed exceptions PSA-Wylie EDC/Sale to Taylor and Son Properties,LLC. Page 8 2359265_3 contained in the usual form of Texas Owner's Title Policy containing a survey exception deletion at Purchaser's expense, except as to shortages in area and such other endorsements as required by Purchaser at Purchaser's expense. (e) Deliver to Purchaser an affidavit, signed and acknowledged by Seller under penalties of perjury, certifying that Seller is not a nonresident alien, foreign corporation, foreign partnership, foreign trust, foreign estate, or other foreign person within the meaning of Sections 1445 and 7701 of the Internal Revenue Code of 1986, as amended, and the associated Treasury regulations. (f) Deliver to Purchaser evidence of Seller's authority and capacity to close this transaction. (g) Deliver to Purchaser possession of the Property. 5.03. Purchaser Deliverables at Closing. At Closing, Purchaser shall: (a) Deliver to the Title Company the Purchase Price, less pro-rations and adjustments as provided in this Agreement, by cashier's check, wire transfer or otherwise in immediately available funds. (b) Deliver to Seller Evidence of Purchaser's authority and capacity to close this transaction. 5.04. All state, county, and municipal taxes and assessments, if any, for the then current year relating to the Property will be assumed by the Purchaser, since Seller is a tax-exempt entity. 5.05. Each party shall pay any attorney's and other professional fees incurred by such party. All other costs and expenses of Closing the sale and purchase shall be borne and paid as provided in this Agreement, or if this Agreement is silent, as is usual and customary for real estate transactions in Collin County, Texas. ARTICLE VI REAL ESTATE COMMISSIONS 6.01. It is expressly understood and agreed that the no brokers have been involved in the negotiation and consummation of this Agreement. Seller and Purchaser hereby agree to indemnify, defend, and hold harmless each other from any and all claims for any other commission(s), brokerage fees or finder's fees brought by any person asserting a claim against Purchaser or Seller. PSA-Wylie EDC/Sale to Taylor and Son Properties,LLC. Page 9 2359265_3 ARTICLE VII REPRESENTATIONS AND COVENANTS 7.01. Seller's Representations. As a material inducement to the Purchaser to execute and perform its obligations under this Agreement, the Seller hereby represents and warrants to the Purchaser as of the date of execution of this Agreement and shall reaffirm through the date of the Closing as follows: (a) At Closing, Seller has the right to, and will, convey to Purchaser good and indefeasible fee simple title to the Property free and clear of any and all liens, assessments, unrecorded easements, security interests and other encumbrances except only to the Permitted Exceptions. (b) Representations and warranties set forth in this Agreement are true, complete and correct, in all material respects both as of the date of this Agreement and as of the Closing; Seller shall not further encumber any of the Property or allow an encumbrance upon the title to any of the Property, or execute or modify the terms or conditions of any leases, Agreements or encumbrances, if any, currently affecting the Property without the written consent of Purchaser. (c) To Seller's current actual knowledge, there are no actions, suits, or proceedings (including, but not limited to, condemnation) pending or threatened against the Property, at law or in equity or before any federal, state, municipal, or other government agency or instrumentality, domestic or foreign. (d) The Property is not in a water district that requires any statutory notice or disclosure to the Purchaser. (e) The execution and delivery of this Agreement and the consummation of this transaction shall not constitute a violation, breach or default by either Seller of any term or provision of any other instrument of which either Seller is a party or to which either Seller or the Property may be subject. (f) The Seller is a municipal development corporation and has all the requisite power and authority to enter into, deliver and perform this Agreement. (g) The Seller is not involved in any litigation pertaining to the Property or any bankruptcy, reorganization or insolvency proceeding. PSA-Wylie EDC/Sale to Taylor and Son Properties,LLC. Page 10 2359265_3 (h) At the time of Closing, there will be no lease or other use agreement in effect with regard to any of the Property and there will not be any party in possession of any of the Property other than Seller. EXCEPT AS EXPRESSLY PROVIDED HEREIN, IT IS UNDERSTOOD AND AGREED THAT SELLER IS NOT MAKING ANY WARRANTIES OR REPRESENTATIONS OF ANY KIND OR CHARACTER, EXPRESS OR IMPLIED, WITH RESPECT TO THE PROPERTY, INCLUDING, BUT NOT LIMITED TO, WA' • NTIES OR REPRESENTATIONS AS TO MATTERS OF TITLE (OTHER THAN WA" ' • NITES OR REPRESENTATIONS SET FORTH IN THIS AGREEMENT AND SELLER'S WARRANTY OF TITLE SET FORTH IN THE SPECIAL WA' • NTY DEED TO BE DELIVERED AT CLOSING), ZONING, TAX CONSEQUENCES, PHYSICAL OR ENVIRONMENTAL CONDITION, OPERATING HISTORY OR PROJECTIONS, VALUATION, GOVERNMENTAL APPROVALS, GOVERNMENTAL REGULATIONS OR ANY OTHER MATTER OR THING RELATING TO OR AFFECTING THE PROPERTY. EXCEPT AS EXPRESSLY PROVIDED IN THIS SECTION OR AS SET FORTH IN THIS AGREEMENT, PURCHASER AGREES THAT WITH RESPECT TO THE PROPERTY, PURCHASER HAS NOT RELIED UPON AND WILL NOT RELY UPON, EITHER DIRECTLY OR INDIRECTLY, ANY REPRESENTATION OR WARRANTY OF SELLER OR SELLER'S REPRESENTATIVES. PURCHASER WILL CONDUCT SUCH INSPECTIONS AND INVESTIGATIONS OF THE PROPERTY, INCLUDING, BUT NOT LIMITED TO, THE PHYSICAL AND ENVIRONMENTAL CONDITIONS THEREOF, AND RELY UPON SAME, AND, UPON CLOSING, SHALL ASSUME THE RISK THAT ADVERSE MATTERS, INCLUDING, BUT NOT LIMITED TO, ADVERSE PHYSICAL AND ENVIRONMENTAL CONDITIONS, MAY NOT HAVE BEEN REVEALED BY SELLER'S WARRANTIES AND REPRESENTATIONS OR PURCHASER'S FEASIBILITYS AND INVESTIGATIONS. PURCHASER AGREES TO TAKE WHATEVER ACTION AND PERFORM WHATEVER INVESTIGATIONS AND STUDIES PURCHASER DEEMS NECESSARY TO SATISFY ITSELF AS TO THE CONDITION OF THE PROPERTY AND THE EXISTENCE OR NONEXISTENCE OF, OR CURATIVE ACTION TO BE TAKEN WITH RESPECT TO, ANY HAZARDOUS PSA-Wylie EDC/Sale to Taylor and Son Properties,LLC. Page 11 2359265_3 AND/OR TOXIC SUBSTANCES ON OR DISCHARGED FROM THE PROPERTY. PURCHASER ACKNOWLEDGES AND AGREES THAT UPON CLOSING SELLER SHALL SELL AND CONVEY TO PURCHASER AND PURCHASER SHALL ACCEPT THE PROPERTY "AS IS, WHERE IS", WITH ALL FAULTS AND THERE ARE NO ORAL OR WRITTEN AGREEMENTS, WA' " • NTIES OR REPRESENTATIONS, COLLATERAL TO OR AFFECTING THE PROPERTY BY SELLER OR ANY THI ' 1 PARTY (OTHER THAN THE WA' ' • NITES OR REPRESENTATIONS SET FORTH IN THIS AGREEMENT AND SELLER'S WA' NTY OF TITLE SET FORTH IN THE SPECIAL WA".'_• NTY DEED TO BE DELIVERED AT CLOSING). FURTHER, PURCHASER HEREBY ACKNOWLEDGES TO SELLER THAT PURCHASER AND SELLER ARE NOT IN A SIGNIFICANTLY DISPARATE BARGAINING POSITION. THE TERMS AND CONDITIONS OF THIS PARAGRAPH SHALL EXPRESSLY SURVIVE THE CLOSING AND SHALL NOT BE MERGED THEREIN. 7.02. Purchaser's Representations. As a material inducement to the Seller to execute and perform its obligations under this Agreement, the Purchaser hereby represents and warrants to the Seller as of the date of execution of this Agreement and shall reaffirm through the date of the Closing as follows: (a) Purchaser is a Texas limited liability company. If Purchaser assigns this Agreement to an allowed third party, such entity shall be duly organized, validly existing and in good standing under the laws of the State of Texas and have all the requisite power and authority to enter into, deliver and perform this Agreement; (b) No consent or approval of any other person or entity is required in order for this Agreement to be legal, valid and binding upon Purchaser; and the execution and delivery of this Agreement and the consummation of this transaction shall not constitute a violation, breach or default by Purchaser of any term or provision of any other instrument of which Purchaser is a party or to which Purchaser may be subject; and (c) To Purchaser's current actual knowledge, there are no actions, suits, or proceedings pending or threatened against the Purchaser, at law or in equity or before any federal, state, municipal, or other government agency or instrumentality, domestic or foreign that would affect this transaction, and Purchaser has received no written notice of PSA-Wylie EDC/Sale to Taylor and Son Properties,LLC. Page 12 2359265_3 same. The Purchaser is not involved in any bankruptcy, reorganization or insolvency proceeding. ARTICLE VIII BREACH BY SELLER 8.01. In the event Seller shall fail to fully and timely perform any of its obligations hereunder or shall fail to consummate the sale of the Property for any reason, except Purchaser's default, Purchaser may either (i) cancel this Agreement upon giving ten (10) days prior written notice to Seller and Title Company and will be entitled to obtain the return of the Escrow Deposit, or(ii)pursue specific performance, as its sole and exclusive remedies. ARTICLE IX BREACH BY PURCHASER 9.01. In the event Purchaser shall fail to fully and timely perform any of its obligations hereunder or shall fail to consummate the purchase of the Property, the conditions to Purchaser's obligations set forth in this Agreement having been satisfied, and Purchaser being in default and Seller not being in default hereunder, Seller shall cancel this Agreement upon giving ten (10) days prior written notice to Purchaser and Title Company and will be entitled to retain the Escrow Deposit, and if applicable, the Additional Escrow Deposit, as liquidated damages as its sole and exclusive remedy. ARTICLE X CONDEMNATION 10.01 If all or any portion (as reasonably determined by Purchaser) of the Property is condemned (or sold and conveyed in lieu of condemnation) prior to the Closing, Purchaser shall have the option to either: (a) proceed with the Closing and receive all awards or payments made by the condemning authority to which Seller was or might otherwise have been entitled to as a result of such condemnation, or (b) terminate this Agreement and have the Escrow Deposit refunded, whereupon this Agreement shall be of no further force and effect. ARTICLE XI PURCHASE OPTION 11.01 In the event Purchaser fails to obtain a building permit from the City of Wylie and commence construction on or before February 1, 2020, for an office building containing no less than 3,500 square feet of space to be constructed on the Property in accordance with a site plan PSA-Wylie EDC/Sale to Taylor and Son Properties,LLC. Page 13 2359265_3 to be approved by Seller during Due Diligence Period, Seller shall have the right, but not the obligation, in its sole discretion, to purchase the Property back from Purchaser for an amount equal to the Purchase Price set forth in Section 2.01 of this Agreement. For purposes of this Contract, "commence construction" shall mean the issuance of a Notice to Proceed to a third- party contractor pursuant to a written construction contract for the construction of the required improvements and actual construction of the improvements on the Property. This Section 11.01 shall survive the Closing for a period of three (3) months and shall not be merged therein. ARTICLE XII MISCELLANEOUS 12.01 Survival of Covenants. All of the representations, warranties, covenants and agreements of the parties, as well as any rights and benefits of the parties, shall survive the Closing for a period of three (3) months (or such longer period of time as may be contemplated by this Agreement in the specific instance) and shall not be merged therein. 12.02 Notices. Notices given pursuant to this Agreement will be effective only if in writing and delivered in person; by courier; overnight, next business day delivery; facsimile; USPS certified mail, return receipt requested, postage prepaid or e-mail (provided that if e-mail is used as the method of delivery, it shall be deemed delivered as of the date and time of transmission of the email with a hard copy of said notice also sent by First Class Mail). All notices will be directed to the other party at its address provided below or such other address as either party may designate by notice given in accordance with this Section. Notices will be effective (i) if by personal delivery or courier delivery, on the date of delivery; (ii) if by overnight courier, one (1) business day after deposit with all delivery charges prepaid; (iii) if by facsimile, on the date of transmission, provided that second copy is sent as required above and (iv) if by certified mail, the one (1) business day after the date of posting at the United States Post Office. Notices for Seller and Purchaser shall be delivered to the addresses herein below, as follows: PSA-Wylie EDC/Sale to Taylor and Son Properties,LLC. Page 14 2359265_3 If to Seller: Wylie Economic Development Corporation 250 State Highway 78 Wylie, Texas 75098 Attn: Sam Satterwhite & Jason Greiner (972) 442-7901 (telephone) (972) 429-0139 (facsimile) Email: samgwylieedc.com Email: jason@wylieedc.corn Copy to Seller's counsel: Abernathy, Roeder, Boyd & Hullett 1700 Redbud Boulevard, Suite 300 McKinney, Texas 75069 Attn: Randy Hullett& Cynthia Collett (214) 544-4007 (telephone) (214) 544-4044 (facsimile) Email: rhullett@abernathy-law.corn Email: ccollett abernath -law.com If to Purchaser: Taylor and Son Properties, LLC. Attn: Gary& Sam Taylor 109 Jackson St. Wylie, TX 75098 Email: gary(@,tay lorandsonbu lders.corn Email: sarnj lorandsonscrvices.corrt 12.03 Binding Effect. This Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective heirs, executors, administrators, legal representatives, successors and assigns where permitted by this Agreement. 12.04 Legal Construction. In case any one or more of the provisions contained in this Agreement shall for any reason be held to be invalid, illegal, or unenforceable in any respect, such invalidity, illegality, or unenforceability shall not affect any other provision hereof, and this Agreement shall be construed as if such invalid, illegal, or unenforceable provision had never been contained herein. 12.05 Integration. This Agreement constitutes the sole and only agreement of the parties hereto and supersedes any prior understanding or written or oral agreements between the parties respecting the within subject matter. This Agreement cannot be modified or changed except by the written consent of all of the parties. 12.06 Time is of the Essence. Time is of the essence of this Agreement. If the time period by which any right, obligation or election must be exercised or performed expires on a PSA-Wylie EDC/Sale to Taylor and Son Properties,LLC. Page 15 2359265_3 weekend or legal holiday in the State of Texas or for the Federal Government of the United States, then such time period shall automatically be extended through the close of business on the next business day. 12.07 Attorney's Fees. Any party to this Agreement which is the prevailing party in any legal proceeding against any other party to this Agreement brought under or with relation to this Agreement or transaction shall be additionally entitled to recover court costs and reasonable attorneys' fees from the non-prevailing party, as determined by a court of competent jurisdiction. 12.08 Gender & Number. Words of any gender used in this Agreement shall be held and construed to include any other gender, and words in the singular number shall be held to include the plural, and vice versa, unless the context requires otherwise. 12.09 Compliance. In accordance with the requirements of Section 28 of the Texas Real Estate License Act, Purchaser is hereby advised that it should be furnished with or obtain a policy of title insurance. 12.10 Effective Date of this Agreement. The term "Effective Date of this Agreement" as used herein shall mean the date on which this Agreement is fully signed by Seller and Purchaser, and the Escrow Deposit is deposited with the Title Company and the Contract is receipted by the Title Company. 12.11 Counterparts/Facsimile. This Agreement may be executed by original or facsimile signatures in multiple counterparts, each of which shall constitute an original and together constitute one and the same instrument. 12.12 Assignment of this Agreement. This Agreement may not be assigned by Purchaser without the prior written consent of Seller, which consent will be within the sole discretion of the Seller. Nevertheless, it is expressly agreed that this Agreement and the rights and obligations thereof may be assigned by Purchaser to an entity under common control with Purchaser (or Purchaser's managers or members) or wholly-owned by Purchaser (or Purchaser's managers or members), or in connection with a tax free exchange or to an entity which is comprised in part by Purchaser or a subsidiary or related party to Purchaser, without the prior consent of Seller; provided, however, that no such assignment shall be effective as to Seller until an executed counterpart of the instrument of assignment has been delivered to Seller by Purchaser, and provided that Purchaser shall continue to be liable for all of Purchaser's obligations hereunder. PSA-Wylie EDC/Sale to Taylor and Son Properties,LLC. Page 16 2359265_3 12.13 Section 1031 Tax-Free Exchange. Seller and Purchaser hereby acknowledge and agree that Purchaser has the right to effectuate a "tax-free" exchange pursuant to Section 1031 of the Internal Revenue Code in connection with the transaction contemplated in the Agreement. If Purchaser notifies Seller not less than five (5) business days prior to the closing date that Purchaser wishes to effectuate a "tax-free" exchange pursuant to Section 1031 of the Internal Revenue Code, Seller shall cooperate with Purchaser (including, without limitation, executing applicable documents), at no cost, expense, or liability to Seller. The provisions of this paragraph shall survive the Closing. 12.14 IRS Reporting at Closing. The Title Company agrees to be the designated "reporting person" under 6045(e) of the U.S. Internal Revenue Code with respect to the real estate transaction described in this Agreement and to prepare, file and deliver such information, returns and statements as the U.S. Treasury Department may require by regulations or forms in connection therewith, including Form 1099-B. 12.15 Signage. Purchaser and/or Purchaser's broker may place a "Coming Soon" sign on the Property during the term of this Agreement. 12.16 Execution of this Agreement. This Agreement may be executed in counterparts, each of which shall constitute an original, and all of which shall collectively constitute a single Agreement. Purchaser shall have seven (7) days within which to fully execute and deliver this Agreement to Seller, whereupon this Agreement shall constitute a legal and binding agreement. In the event that Purchaser shall fail to so execute and deliver this Agreement on or before seven (7) days after the effective date, then the offer made herein shall be deemed to have been revoked for all purposes and this Agreement shall be null and void. [SIGNATURES APPEAR ON THE FOLLOWING PAGES] PSA-Wylie EDC/Sale to Taylor and Son Properties,LLC. Page 17 2359265_3 EXECUTED to be EFFECTIVE as set forth herein above. SELLER: WYLIE ECONOMIC DEVELOPMENT CORPO ' • TION, a Texas non-profit corporation By: Sam Satterwhite, Executive Director Date: [PURCHASER'S SIGNATURE APPEARS ON THE FOLLOWING PAGE] Seller's Signature Page Wylie EDC/Taylor&Son 2359265 PURCHASER: TAYLOR AND SON PROPERTIES, LLC, a Texas limited liability company By: Gary Taylor, Member Date: [TITLE COMPANY ' CEIPT & ACKNOWLEDGEMENT APPEARS ON THE FOLLOWING PAGE] Purchaser's Signature Page Wylie EDC/Taylor&Son 2359265 EXHIBIT A-1 PROPERTY DEPICTION ��� �..; 0232 ETEi..n . , i i t i i i OFF 1 ti d Z 3 µ In 1 . ' i- M A , . ff 03 26.4 1 e.W 2,..,... 2 O OFF 7 'a! ONE n ST0 RY if) FRAME t+s IL 1 2 6.4' 0..7 E 1� I• *. ° .. Ors ..,',:::: , i 4 a i j r OFF WM-ER y Exhibit"A-1"-Legal Depiction of Property Wylie EDC/The Rocking M,L.L.C. 2359265 EXHIBIT `B" FO ' OF SPECIAL WA ' •:NTY DEED AFTER RECO' i ING RETU ' TO: 'Grantee] "NOTICE OF CONFIDENTIALITY RIGHTS: IF YOU A' A NATU ' • L PERSON, YOU MAY ' MOVE OR STRIKE ANY OR ALL OF THE FOLLOWING INFO ' ATION FROM THIS INSTRUMENT THAT T' •:NSFERS AN INTEREST IN REAL PROPERTY BEFO ' IT IS FILED FOR RECO ' i IN THE PUBLIC RECO' I S: YOUR SOCIAL SECURITY NUMBER OR YOUR DRIVERS' LICENSE NUMBER." SPECIAL WA' ' • NTY DEED STATE OF TEXAS § § KNOW ALL MEN BY THESE PRESENTS: COUNTY OF COLLIN § THAT ("Grantor"), for and in consideration of the sum of TEN AND NO/100 DOLLARS ($10.00), and other good and valuable consideration paid by (whether one or more, "Grantee")having an address of the receipt and sufficiency of which are hereby acknowledged and confessed, subject to the exceptions hereinafter set forth and described, has GRANTED, BARGAINED, SOLD and CONVEYED, and by these presents does hereby GRANT, BARGAIN, SELL and CONVEY, unto Grantee all of that certain lot, tract or parcel of land situated in Collin County, Texas, and being more particularly described in Exhibit "A" attached hereto and incorporated herein by reference for all purposes ("Land"), together with any and all benefits, privileges, tenements, hereditaments, rights and appurtenances thereon or pertaining to the Land, and all right, title and interest of Seller in and to in and to adjacent streets, alleys or rights-of-way, together with any strips or gores relating to the Land (collectively, the "Property"). This conveyance is made subject and subordinate to the encumbrances and exceptions ("Permitted Exceptions") described in Exhibit "B" attached hereto and incorporated herein by reference for all purposes, but only to the extent they affect or relate to the Property, and without limitation or expansion of the scope of the special warranty herein contained. TO HAVE AND TO HOLD the Property, subject to the Permitted Exceptions as aforesaid, unto Grantee, and Grantee's successors and assigns, forever; and Grantor does hereby bind Grantor, and Grantor's successors and assigns, to WARRANT and FOREVER DEFEND, all and singular, the Property, subject to the Permitted Exceptions unto Grantee, and Grantee's successors and assigns, against every person whomsoever lawfully claiming or to claim the same or any part thereof by, through or under Grantor, but not otherwise, but with full substitution and subrogation of Grantee in and to all covenants of warranty by parties other than Grantor Exhibit"B"-Special Warranty Deed Wylie EDC/Taylor&Son 2359265 heretofore given or made with respect to the rights, titles, and interests herein conveyed or any part thereof. Grantee, by its acceptance hereof, does hereby assume and agree to pay any and all ad valorem taxes and special assessments pertaining to the Property for calendar year 201 and subsequent years, there having been a proper proration of ad valorem taxes for the current calendar year between Grantor and Grantee. EXECUTED on the dates of the acknowledgments, but to be EFFECTIVE on the day of , 20�. G ' •NTOR: STATE OF TEXAS § COUNTY OF COLLIN § This instrument was acknowledged before me on the day of , 20 by of on behalf of such Notary Public, State of Texas Exhibit"B"-Special Warranty Deed Wylie EDC/Taylor&Son 2359265 ylie cono ic I evelo I ent Corporation E • - A DU TO: WEDC Board of Directors FROM: Samuel Satterwhite, Executive Director' SUBJECT: Performance Agreement DATE: March 11, 2019 Issue Consider and act upon issues surrounding a Performance Agreement between the WEDC and Taylor and Son Properties, LLC. Analysis Attached for the Board's review is a Performance Agreement between the WEDC and Taylor and Son Properties, LLC. As an accompaniment to the Purchase and Sale Agreement, the WEDC is committing to fund a $104,500 reimbursement incentive. Should Taylor and Son construct the contemplated office project as evidenced by the issuance of a building permit by February 1, 2020 and Certificate of Completion for a minimum of 3,500 square feet issued by February 1, 2021 they will receive the first half of the reimbursement incentive. Company must also provide documentation supporting construction costs of not less than $400,000, which is a conservative number by design. The second reimbursement incentive is to be paid upon receipt of Certificate of Occupancy for not less than 1,750 square feet by February 1, 2022. Staff has drafted language into this Agreement which allows for a 90-day extension to either the Permit deadline, the CO deadline, or both. The extension can be requested in writing and obtained by Company should it be determined by staff, at its sole and absolute discretion, that the Company is making reasonable efforts to meet the above deadlines but is unable to do so. Recommendation Staff recommends that the WEDC Board of Directors approve a Performance Agreement between the WEDC and the Taylor and Son Properties, LLC and further authorize the WEDC Executive Director to execute the Agreement. Attachments Performance Agreement PERFO' ANCE AGREEMENT Between Wylie Economic Development Corporation And Taylor and Son Properties, LLC This Performance Agreement (the "Agreement") is made and entered into by and between the Wylie Economic Development Corporation ("WEDC"), a Texas corporation organized and existing under Chapter 501 of the Texas Local Government Code, known as the Development Corporation Act, as amended from time to time (the "Act") and Taylor and Son Properties, LLC, a Texas limited liability company ("Company"). RECITALS WHEREAS, WEDC owns that certain tract of property located within the corporate limits of the City of Wylie, Texas (the "City"), consisting of±0.17 acres, more or less, located in Lot 7, Block 2 of Keller's First Addition, an Addition to the City of Wylie, Collin County, Texas, as more fully described in the attached Exhibit A (the "Property") and as further depicted herein on Exhibit"A-i" (the "Property Depiction"); WHEREAS, WEDC has agreed to sell the Property to Company and Company has agreed to purchase the Property from WEDC pursuant to that certain Purchase and Sale Agreement of even date herewith (the "Contract"); WHEREAS, the Company plans to construct an office building containing no less than 3,500 square feet of commercial office space on the Property in accordance with the site plan to be approved by the WEDC (the "Facility"); WHEREAS, Company has requested financial and/or economic assistance from the WEDC to plan and construct certain infrastructure improvements to assist in the development of the Property, consisting of economic assistance for all hard and soft costs relating to the construction of public and site improvements on or adjacent to the Property; WHEREAS, Section 501.103 of the Act states that the WEDC may provide funding for expenditures that are found by the Board of Directors to be required or suitable for infrastructure necessary to promote or develop new or expanded business enterprises, limited to streets and roads, rail spurs, water and sewer utilities, electric utilities, or gas utilities, drainage, site improvements, and related improvements (the "Qualified Infrastructure"); and WHEREAS, Company proposes to use the economic incentive for the construction of the Qualified Infrastructure which will include approved public infrastructure improvements and site improvements as may be amended from time to time, necessary for the development of the Property and which will benefit the surrounding properties, as generally described in the attached Exhibit B. and PERFORMANCE AGREEMENT—Page 1 2360175 WHEREAS, the WEDC has found that the Qualified Infrastructure is necessary to promote or develop new or expanded business enterprises in the City and the WEDC has concluded that the Qualified Infrastructure constitutes a "project", as that term is defined in the Act, and is willing to provide Company with economic assistance as hereinafter set forth on the terms and subject to the conditions as stated herein and Company is willing to accept the same subject to all terms and conditions contained in this Agreement; and WHEREAS, the WEDC has determined that it is in the best interest of the public and the City and promotes the purposes authorized by the voters of the City of Wylie for which the WEDC was established to encourage the development and use of commercial properties within the City; and WHEREAS, the WEDC is willing to provide the Company with economic assistance hereinafter set forth on the terms and subject to the conditions as stated herein and Company is willing to accept the same subject to all terms and conditions contained in this Agreement. NOW, THEREFORE, for and in consideration of the above recitals and the terms, conditions and requirements hereinafter set forth, the parties hereto agree as follows: 1. Economic Assistance. Subject to the terms of this Agreement and provided Company is not in default, the WEDC will provide Company economic assistance in the form of a performance reimbursement incentive in the sum of One Hundred Four Thousand Five Hundred Dollars ($104,500.00) (the "Reimbursement Incentive"). The Reimbursement Incentives will be paid per the criteria set forth herein with the WEDC's obligation to pay the Incentives terminating on February 1, 2022. The total amount of economic assistance and/or incentives to be paid to the Company, including the Reimbursement Incentive, shall not exceed the cumulative sum of One Hundred Four Thousand Five Hundred Dollars ($104,500.00). Upon meeting the qualifications and requirements (the "Performance Requirements"), the Company shall be entitled to the following Economic Development Incentives: Economic Development Incentive Payment Schedule: Expected Cost of WEDC Cumulative Eligibility Year Incentive Improvements Incentive Incentive Expiration 2020 No. 1 $400,000 $52,250 $52,250 2-1-2021 2021 No. 2 N/A $52,250 $104,500 2-1-2022 2. Performance Obligations. The WEDC's obligation to pay Company the Reimbursement Incentive stipulated above is expressly contingent upon Company completing the following items (the "Performance Criteria") by the due dates set forth below: PERFORMANCE AGREEMENT—Page 2 2360175 a. Incentive No. la: A Reimbursement Incentive of Fifty-Two Thousand Two Hundred Fifty Dollars ($52,250.00) will be paid to Company upon completion of the following Performance Requirements for Incentive No. la: 1) Company shall acquire title to the Property pursuant to the terms of the Contract by no later than November 1, 2019; and 2) Company shall submit to WEDC for conditional approval of a site plan and elevations for the development of a commercial office building of not less than three thousand five hundred square feet prior to November 1, 2019; and 3) Company shall secure approval from the City of Wylie Historic Review Commission (HRC) for the development of a commercial office building consistent with those plans required within Section 2 (a) 2 and conforming with all requirement imposed by said HRC; and 4) Company shall obtain a building permit for the Facility from the City (the "Building Permit") no later than February 1, 2020 (the "Building Permit Deadline"); 5) Receipt of documentation by WEDC of a Certificate of Completion for no less than a three thousand five hundred (3,500) square foot commercial office building issued by the City of Wylie no later than February 1, 2021 (the "Certificate of Completion Deadline"); 6) Company shall supply documentation to the WEDC that the cost of constructing the Facility, net of any costs related to acquiring the Property, is at least Four Hundred Thousand Dollars ($400,000.00) no later than the Certificate of Completion Deadline; and 7) Company shall supply documentation to the WEDC that the Qualified Infrastructure has been completed and that the cost of constructing the Qualified Infrastructure was at least One Hundred Four Thousand Five Hundred Dollars ($104,500.00) no later than the Certificate of Completion Deadline. 8) Company is current on all ad valorem taxes and other property taxes due on the Property by January 31 of the year after they are assessed and provide written notice and evidence of such payment to WEDC in a form satisfactory to WEDC; and 9) Eligibility expiration for the Company to qualify for this Incentive No. la is February 1, 2021. PERFORMANCE AGREEMENT—Page 3 2360175 Notwithstanding the foregoing, Company may request a ninety (90) day extension of the Building Permit Deadline and/or the Certificate of Completion Deadline by delivering written notice thereof to the WEDC staff at least thirty (30) days prior to the applicable deadline, along with documentation demonstrating that Company is making all reasonable efforts to obtain the Building Permit or the Certificate of Completion for the Facility, as applicable. In the event WEDC staff determines, in its sole and absolute discretion, that Company is making all such reasonable efforts, then the Building Permit Deadline and/or the Certificate of Completion Deadline, as applicable, shall be extended by ninety(90) days. b. Incentive No. 2: A Reimbursement Incentive of Forty-Nine Thousand Five Hundred Dollars ($52,250.00) will be paid to Company upon completion of the following Performance Requirements for Incentive No. 2: 1) The Facility shall be completed (as evidenced by a permanent Certificate of Occupancy) for no less than one thousand seven hundred fifty (1,750) square feet no later than February 1, 2022 (the "Certificate of Occupancy Deadline"); 2) Company is current on all ad valorem taxes and other property taxes due on the Property by January 31 of the year after they are assessed and provide written notice and evidence of such payment to WEDC in a form satisfactory to WEDC; and 3) Eligibility expiration for the Company to qualify for this Incentive No. 2 is February 1, 2022. Notwithstanding the foregoing, Company may request a ninety (90) day extension of the Building Permit Deadline and/or the Certificate of Occupancy Deadline by delivering written notice thereof to the WEDC staff at least thirty (30) days prior to the applicable deadline, along with documentation demonstrating that Company is making all reasonable efforts to obtain the Building Permit or the permanent Certificate of Occupancy for the Facility, as applicable. In the event WEDC staff determines, in its sole and absolute discretion, that Company is making all such reasonable efforts, then the Building Permit Deadline and/or the Certificate of Occupancy Deadline, as applicable, shall be extended by ninety (90) days. 3. WEDC Payment of Reimbursement Incentive. Subject to the terms and conditions of this Agreement, the Reimbursement Incentive shall be paid by WEDC to the Company within ten(10) days of the issuance of the Certificate of Occupancy for the Facility. 4. Default. The WEDC's obligation to pay any portion of the Reimbursement Incentive to Company will terminate if Company defaults by not completing the Performance Criteria as set forth in Section 2 of this Agreement. In the event Company fails to obtain the Building Permit by the Building Permit Deadline, as the same may have been extended, as required in Section 2(b) of this Agreement, no portion of the Reimbursement Incentive will be PERFORMANCE AGREEMENT—Page 4 2360175 paid to Company and WEDC shall have the option, but not the obligation, in WEDC's sole discretion, to purchase the Property back from Company for the same purchase price that Company paid to WEDC to acquire the Property from WEDC under the Contract. In the event Company fails to meet any of the other Performance Criteria in this Section 2, the Reimbursement Incentive shall not be paid to the Company and this Agreement shall terminate. 5. Termination of Agreement. This Agreement may be terminated by mutual written consent of the parties or by either party, upon the failure of the other party to fulfill an obligation as set forth in this Agreement. 6. Economic Assistance Termination. Notwithstanding the terms of this Agreement, the WEDC's obligation to pay a portion or all of the Reimbursement Incentive to Company will expire upon the earlier of(i) the full payment of the Reimbursement Incentive, or (ii) May 1, 2022. 7. Miscellaneous. a. This Agreement shall be construed according to the laws of the State of Texas and is subject to all provisions of the Act, which are incorporated herein by reference for all purposes. In the event any provision of the Agreement is in conflict with the Act, the Act shall prevail. b. This Agreement shall be governed by the laws of the State of Texas and is specifically performable in Collin County, Texas. c. This Agreement shall be binding upon and inure to the benefit of the parties hereto and their permitted successors and assigns. This Agreement shall not be assignable by Company without the prior written consent of the WEDC, which consent will be at the sole and absolute discretion of the WEDC. d. Any notice required or permitted to be given under this Agreement shall be deemed delivered by hand delivery or depositing the same in the United States mail, certified with return receipt requested, postage prepaid, addressed to the appropriate party at the following addresses, or at such other address as any party hereto might specify in writing: WEDC: Mr. Sam Satterwhite Executive Director Wylie Economic Development Corporation 250 South Highway 78 Wylie, TX 75098 With copy to: Abernathy, Roeder, Boyd and Hullett, P.C. 1700 Redbud Blvd., Suite 300 McKinney, Texas 75069 Attention: Mr. G. Randal Hullett PERFORMANCE AGREEMENT—Page 5 2360175 COMPANY: Taylor and Son Properties, LLC. Attn: Sam Taylor, Member 109 Jackson St. Wylie, TX 75098 e. This Agreement contains the entire agreement of the parties regarding the within subject matter and may only be amended or revoked by the written agreement executed by all the parties hereto. f. This Agreement may be executed in a number of identical counterparts, each of which shall be deemed an original for all purposes. g. In case any one or more of the provisions contained in this Agreement shall for any reason be held to be invalid, illegal or unenforceable in any respect, such invalidity, illegality or unenforceability shall not affect any other provision thereof, and this Agreement shall be construed as if such invalid, illegal or unenforceable provision had never been contained herein. h. Each signatory represents this Agreement has been read by the party for which this Agreement is executed and that such party has had an opportunity to confer with its counsel. i. Time is of the essence in this Agreement. j. The parties agree this Agreement has been drafted jointly by the parties and their legal representatives. By the execution hereof, each signatory hereto represents and affirms that he is acting on behalf of the party indicated, that such party has taken all action necessary to authorize the execution and delivery of the Agreement and that the same is a binding obligation on such party. WEDC Board approved this day of March 2019,the Effective Date. WEDC: WYLIE ECONOMIC DEVELOPMENT CORPORATION, a Texas Corporation By: Sam Satterwhite, Executive Director PERFORMANCE AGREEMENT—Page 6 2360175 COMPANY: Taylor and Son Properties, LLC, a Texas limited liability company By: Sam Taylor, Member Exhibits: Exhibit A Legal Description of the Property Exhibit A-1 The Property Depiction Exhibit B The Qualified Infrastructure PERFORMANCE AGREEMENT—Page 7 2360175 E IBIT "A" THE PROPERTY BEING Lot 7, in Block 2, in Keller's First Addition, an Addition to the City of Wylie, Texas, according to the Map thereof recorded in Volume 29, Page 349, of the Map Records of Collin County, Texas. PERFO• CE AGREEMENT—Page 8 2360175 EXHIBIT A-1 PROPERTY DEPICTION orF S .wa f d ' n ' OFF 1 IX I 25.3' n �. a 26.4' Po O F W 1 STORY CO FRAME a cn .4' [ I <. i. i 4-1 "a O ^° ...,_ WATER , . f ��€ e r z s's,= METER - - ,I '> I"""'EET PERFORMANCE AGREEMENT—Page 9 2360175 IBIT B The Qualified Infrastructure [TO BE ATTACHED] PERFORMANCE AGREEMENT—Page 10 2360175 ylie Fcono ic P evelop ent Con , oration E 0 - A IDU TO: WEDC Board of Directors FROM: Samuel Satterwhite, Executive Dnectoj SUBJECT: Performance Agreement DATE: March 15, 2019 Issue Consider and act upon issues surrounding a Performance Agreement between the WEDC and STRR GRVL, LP. Analysis Attached for the Board's review is a Performance Agreement between the WEDC and STRR GRVL, LP (dba Professional Plumbers Group). As presented in Executive Session, STRR is undertaking an 8,400 square foot expansion to their existing 12,000 square foot office/warehouse. The purpose of the expansion is to place a majority, if not all, of material and inventory utilized in their business operations under roof. This expansion will not only make their operations more efficient but remove the permissible outside storage of goods from public view. STRR is expending in excess of $800,000 on the expansion and has requested a $26,000 assistance package from the WEDC. Development fees to the City of Wylie will be $15,000 and a Certificate of Occupancy will be required under the Agreement prior to August 31, 2019. Professional Plumbers Group currently employees 58 hourly/salaried employees in their office/warehouse in addition to 75 contract laborers based out of their Wylie operations. Recommendation Staff recommends that the WEDC Board of Directors approve a Performance Agreement between the WEDC and STRR GRVL, LP and further authorize the WEDC Executive Director to execute the Agreement. Attachments Performance Agreement Site Plan Elevations PERFO ' ANCE AG' EMENT Between WYLIE ECONOMIC DEVELOPMENT CORPO ' • TION And ST' GRVL, LP This Performance Agreement (this "Agreement") is made and entered into by and between the Wylie Economic Development Corporation (the "WEDC"), a Texas corporation organized and existing under the Development Corporation Act of 1979, as amended from time to time (the "Act"), and ST ' ' GRVL, LP, a Texas limited partnership (the "Company"). ' CITALS WHEREAS, the Company is desirous of making real and personal property improvements in the form of an 8,400-square foot expansion of their manufacturing and warehouse facility (the "Project"). The project will have a minimum cost of Eight Hundred Thousand Dollars ($800,000) and is located at 1322 Century Way in Wylie, Texas (the "Facility"); and WHEREAS, the Company has requested that the WEDC provide economic assistance to offset the cost of the construction for the Project and other expenses associated with constructing the Facility in the City of Wylie, Texas; and WHEREAS, the Company currently has Fifty-Five (55) hourly/salaried employees and Seventy-Five (75) sub-contractors with construction of the Project in the City of Wylie, Texas ultimately creating additional "primary jobs", as that term is defined in the Act; and WHEREAS, the WEDC has determined that it is in the best interest of the public and the City and promotes the purposes authorized by the voters of the City of Wylie for which the WEDC was established to encourage the development and use of business properties within the City; and WHEREAS, the WEDC has estimated that $15,000 will be assessed by the City of Wylie in development fees to be paid prior to issuance of Certificate of Occupancy of the Facility; and WHEREAS, for the public purpose of promoting economic development and diversity, increasing employment, reducing unemployment and underemployment, expanding commerce and stimulating business and commercial activities in the State of Texas, and the City of Wylie, the WEDC desires to offer economic assistance to Company as more particularly described in this Agreement. NOW, THEREFORE, for and in consideration of the promises, covenants and agreements set forth herein, the receipt and sufficiency of which are hereby acknowledged, the WEDC and Company agree as follows: I. Economic Assistance. Subject to the terms of this Agreement, the WEDC will provide economic assistance in an amount up to, but not to exceed Twenty-Six Thousand Dollars ($26,000.00) (the "Economic Development Incentives"). The Economic Incentives will be Page 1 of 5 W:\Board\2019\3-20-19\STRR GRVL-Performance Agreement doc paid according to the criteria set forth herein with the WEDC's obligation to pay the Economic Development Incentives terminating on August 31, 2019. Upon meeting the qualifications and requirements (the "Performance Requirements"), the Company shall be entitled to the following Economic Development Incentives: Economic Development Incentive Payment Schedule: Expected Cost/Value of WEDC Total WEDC Eligibility Year Incentive Project Incentive Incentive Expiration 2019 No. 1 $800,000 $26,000 $26,000 8-31-2019 II. Performance Requirements for Economic Development incentive. a. Incentive No. 1: An Economic Development Incentive, for the benefit of the Company, of Twenty-Six Thousand($26,000) will be paid to the Company upon completion of the following Performance Requirements for Incentive No. la: 1) Receipt of documentation by WEDC of a Certificate of Occupancy, for an eight thousand four hundred (8,400) square foot expansion located at 1322 Century Way, issued by the City of Wylie, approval of said documentation at the sole and absolute discretion of the WEDC; and 2) Receipt of a 'Permit Fee Receipt' from the City of Wylie for development fees of not less than $15,000, approval of said documentation at the sole and absolute discretion of the WEDC; and 3) Receipt of documentation by WEDC supporting a minimum project cost of Eight Hundred Thousand Dollars ($800,000) as evidenced by paid invoices supporting the minimum expenditures for construction costs associated with the Project and acquisition/relocation of new personal property, approval of said documentation at the sole and absolute discretion of the WEDC; and 4) Company is current on all ad valorem taxes and other property taxes due on the Facility by January 31 of the year after they are assessed and provide written notice and evidence of such payment to WEDC in a form satisfactory to WEDC; and 5) Employment verification proving a minimum of Fifty-Five (55) hourly/salaried Employees and Seventy-Five (75) subcontractors at time Agreement is executed. 6) Eligibility expiration for the Company to qualify for this Incentive No. 1 is August 31, 2019. Page 2 of 5 W:\Board\2019\3-20-19\STRR GRVL-Performance Agreement doc III. WEDC Payment of Reimbursement Incentives. Subject to the terms of this Agreement, the WEDC shall pay the Incentives within approximately five (5) days of receipt of the required documentation from the Company, subject to verification by the WEDC that the Performance Requirements have been met or exceeded by the Company. IV. Non-Attainment of Performance Requirements. In the event that the Company does not meet or exceed a Performance Requirement as specified in Section II (a), the WEDC Economic Development Incentive will be voided in advance of payment in addition to all future Economic Development Incentive payments being voided at the sole discretion of the WEDC. The Company will not be eligible to receive an Economic Development Incentive payment if documentation supporting Performance Requirements are not received by WEDC prior to the Eligibility Expiration Date. Company will be notified in writing in the event a Performance Requirement is not met and have thirty (30) days to cure said default. V. Economic Assistance Termination. The Agreement may be terminated by mutual agreement of the parties or by either party, upon the failure of the other party to fulfill an obligation as set forth in Section II above. Regardless of the Company's level of attainment of the Performance Requirements set forth in Section II above, the WEDC's obligation to pay the Reimbursement Incentive will expire in full on August 31, 2019. VI. Employee Hiring, Materials and Supplies Purchase. Although not an event of default or a condition to any advance in the Agreement, WEDC requests that the Company satisfies its need for all construction contractors from Wylie residents and purchase all materials, supplies and services necessary to affect the Project and subsequent occupancy of the Facility from Wylie merchants and businesses. VII. Community Involvement. Although not an event of default or condition of any advance hereunder, the Company agrees to actively participate in community and charitable organizations and/or activities, the purpose of which are to improve the quality of life in the City of Wylie, Texas, and to actively encourage its employees to be involved in such organizations and/or activities. VIII. Verification and Compliance. The Company will allow the WEDC to audit necessary Company's records, documents, agreements and other instruments in furtherance of the following purposes: (i) to ensure the Company's compliance with the affirmative covenants set forth in this Agreement; (ii) to determine the existence of an Event of Default under the terms of this Agreement; (iii) to ensure compliance with any other terms and conditions set forth herein or any related documents. Company will provide reports or allow WEDC to review reports certifying the status of compliance, jobs retained, new investments and any other relevant information until the termination of this Agreement IX. Cessation of Economic Assistance. Notwithstanding anything herein to the contrary, WEDC shall have no obligation to disburse WEDC Economic Development Incentives if the Company becomes insolvent, files a petition in bankruptcy or similar proceedings, or is adjudged bankrupt, or is delinquent on any property tax payments or an Event of Default under the terms of this Agreement occurs. Page 3 of 5 W:\Board\2019\3-20-19\STRR GRVL-Performance Agreement doc X. Non-Payment of Economic Assistance. The following will constitute an Event of Default and any advance shall not be forgiven in an Event of Default: The Company becomes insolvent, makes any materially false statements to the City and/or the WEDC, fails to pay ad valorem taxes, or files suit against the City and/or the WEDC. XI. Miscellaneous. a. This Agreement shall inure to the benefit of the parties hereto and shall not be assignable by Company without the prior written consent of the WEDC, which consent may be withheld by the WEDC in its sole and absolute discretion. b. This Agreement shall be construed according to the laws of the State of Texas and is subject to all provisions of Vernon's Ann. Civ. St. Art. 5190.6, which are incorporated herein by reference for all purposes. In the event any provision of the Agreement is in conflict with article 5190.6, article 5190.6 shall prevail. c. This Agreement contains the entire agreement of the parties regarding the within subject matter and may only be amended or revoked by the written agreement executed by all of the parties hereto. d. This Agreement shall be governed by the laws of the State of Texas and is specifically performable in Collin County, Texas. e. Any notice required or permitted to be given under this agreement shall be deemed delivered by depositing the same in the United States mail, certified with return receipt requested, postage prepaid, addressed to the appropriate party at the following addresses, or at such other address as any part hereto might specify in writing: WEDC: Sam Satterwhite Executive Director Wylie Economic Development Corporation 250 South Highway 78 Wylie, Texas 75098 COMPANY: STRR GRVL, LP 1322 Century Way Wylie, TX 75098 Attention: Mr. R.C. Ottwell, General Partner By the execution hereof, each signatory hereto represents and affirms that he is acting on behalf of the party indicated, that such party has taken all action necessary to authorize the execution and delivery of the Agreement and that the same is a binding obligation on such party. EXECUTED this day of March 2019 Page 4 of 5 W:\Board\2019\3-20-19\STRR GRVL-Performance Agreement doc WEDC: Wylie Economic Development Corporation By: Sam Satterwhite, Executive Director COMPANY: ST' ' GRVL, LP By: R.C. Ottwell, General Partner Page 5 of 5 W:\Board\2019\3-20-19\STRR GRVL-Performance Agreement doc / 38 =3 Voo6 i ty'r 89 ' ; z 333 En 39;16 3 343734 33 o tor; ill I rf. II. , G 2, 222m WW1' E2 EmEo32222 1 ,o,) o°7 0, 02.'9„,i22E nR2 2 coi. . o 22 0s2 ....4000,m kr, o42 2 4, )/ . 1; ' 1$, !,21§E—.7':01,11'1 FA ii 94 It' ' , -.33 .1,4 1411k06r0;IM e 1 82 , 2. ° ki '2 o i 6 12'2F1.2,EM2.5 8 P'-'51§Mii73 V1112 A 4,5°.gs,T 02 if I , C°4 71,,,,,,7 88',6 6,,i'r-s, c•F,-..,5<;111 (2)C?14 r® I 4 3 91,9994=3319 =9111911 3'31944;4;43"1:44 '41.P9,1,93F19 4 9 H4t 9,19,t14991999411'9 ,!522919 4914: ;1;4, 11'4 19!49.4:9''' '18'1414' =914 9;14191, 3,9,99999.11 44-19,P44„ ‘9447;?1-49994r233 970'1991'1 G p'1931 383 3 .'31719?11"'9,4111!;;F, '9.91'112 EE°.%)."741g,.11;11 4921' j°1%)4420,7 a 9 r.-4,439A9444391g 45%1N:RX.W91.1.9 1g1.. ------ 'T'A 127;71,7A:0g 7)4441191 49.31193 1 11934311. 9 n13 9991 9, .-. a/ 14.99112619:46491 9,i1,9119-11348.29.99 9894,9414,9=49, 44,99111.32-33 883; ;ti8.7Za8E-gi '''', 888880 888.88,*83,,, 8 p, 1 14451'814 '31,9994F 49- ;8`288ts :cr.,; :::88;;;`8` 8 R,8 /I r ; 1 3 - 2 14 g,1874 8.% , 20222 i 1 I PAPNP ill , z '41T4e99 T46 1 1 =.8n8; aXa P4 i'417:g. ggE F,--'83,6 2P,ItO I 4FIIH''' ' ';' ; tzQnnit 2 ott8;;F81" Rt „i0 ; 8' ik8kr'`, A „.. erv:,3. 947 742 1...) .':!..•§,°:;;:, 6,A •A Shearer,kMit: tn11148C&Erilriltigin'Inc* 6 6 A Art; 75049 K CENPTURROYF BUSINESSES S o WarehouseN, PLUMBERSAARLLoTASR.c1Bdi,oit5Koo9 Ans?5R..020AUCRPES 1200w 1/2331,24AMEEE,CARLE",TFXAS OFFICE 972-2724763 FAX 972-2724761 1322 Century Way,Wylie,Texas ? l' Cid • \, qa E- - --'.--' - -- - -' :I- -7'''''- - 1------'-- -- : xkjsw N. - ,.,x �a..= 3 ,„,„-w _,,,___,,, ,,, _,_, ,,_ __,,_i_,_ , ,,,,,,L__r: ::::__:.,,,7.: ..„,„,. as LL • an 0 as ,,--' 1 III li z ' s I sl 1iirP4i'[E E '+•M Es F Ji ArallIN '_ p.G T i i 1 I =I 1. / . .s — [ x E7FER CR FN SH Ow West Elevation South ElevationBR C-.K VENEER 2 y s$ �+Zitii 0 seue rm-=ra- SCALE rm-=ram•• p a vF„ev e 55 as�555 cup,uv _hv ka=� . N xm drl=k E�analon Jolnb 7 tfdR��T�WN'i' 4H �"gwy b�P Rt,RTA,R_1No Grade rSeam Nob: r.s od uck cnrn... ( v_as CJ z.zo•ma...=k w.n. 9, D to Isoit, for rehnof P only. z.ow.k..a ano..,=k.wean.ion rl k. ! o z.- 1 ab gross.location of Pler To „+rr,� I.daabaad da nb ASTa C r2O t . Grant beam bottom slopes. o.aa.ns,ua•a.aaa.so 55 DOOR n FRAS cvF HE CoUR s- FRAME y.4 2 cv cn. . mn ,y�d'�' 41 '� �� „z �� (,r'�,; (IN �W SC r1CBE:U Yt,:.- 0 1 ;� �: 5.0 5 P (( 6 _3 `s'mci tt - - flli ��`�� ppt ( g A _ _ r`Id—4ROD 4m' i _ I 1.'1 _ m� ...e.>-=m �, fr North Elevation 4Building Section . SCALE tm•=t'� feuE tm-=ra- E'=,�E•"° A301 ylie Econo ic I evelop ent Corporation E 0 - A DU TO: WEDC Board of Directors FROM: Samuel Satterwhite, Executive Director " SUBJECT: Staff Report DATE: March 15, 2019 Issue Staff report: review issues surrounding WEDC Performance Agreement Summary, Hotel Occupancy Tax, environmental activity summary, McClure office project, Jackson Street alley project, Retail Coach presentation, 78/Brown redevelopment update, 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 Performance Agreement Summary Attached for the Board's review is a summary of all outstanding Performance Agreements including Carrie Elle, Clark Street Development, Cross Development, DANK Real Estate, DCU, Exco Extrusion Dies, 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 February 2019 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. $10,556,991.03 has been generated in total sales tax over the life of the Agreement with $5,623,663.40 reimbursed through February 2019 establishing net receipts of$4,933,327.63. 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. WEDC- Staff Report March 15, 2019 Page 2 of 4 As shown on the attached Sales Tax Reimbursement Report, $219,516.89 was generated in sales tax in December 2018 versus $217,802.33 in December 2017. This represents a 0.79% 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 property tax valuations within Woodbridge Crossing are at$73.7 mm with a 5.25%gain over 2017. Woodbridge Centre Within the Kroger-anchored center, $90,878.60 in sales tax was generated in December 2018 with $22,719.65 subject to reimbursement. December 2018 sales represents a 2% decrease over the same period in 2017. There is no new activity to report other than the Burgerim concept which has been previously discussed and is currently under construction. Hotel Occupancy Tax As reported on the Hotel Occupancy Spreadsheet, 2 hotels reported Occupancy Tax receipts for October and November 2018. October 2018 showed an increase of$8,306.51 or a 132%gain over 2017 and November 2018 receipts increased $9,458.30 or a 188%gain over 2017. December and January still have only 1 hotel reporting. Environmental Activity Summary Attached for the Board's review is a spreadsheet tracking the remaining remediation project with W&M Environmental. McClure Office Project The WEDC and McClure closed on the real estate transaction on 2-28-19. A building permit has been issued for the office project and construction will start within the next 30 days. McClure has until April 1, 2020 to receive a certificate of occupancy for the project under the WEDC Performance Agreement. Jackson Street Alley Project GT Construction will begin a second WEDC alley project north of Oak and west of Jackson the week of March 25th. The newly remodeled Taylor property will benefit from the alley along with the Rocking M project to break ground within the next 30—45 days. Staff will also be processing a change order to provide approximately four parking spaces behind the WEDC building located at 106 North Birmingham and remove several non-protected trees that could negatively impact to long term integrity of the alley. WEDC- Staff Report March 15, 2019 Page 3 of 4 Retail Coach Presentation Aaron Farmer of The Retail Coach will make a presentation to the WEDC Board on April 17th Should Board Members have any specific questions regarding the local and regional retail environment please submit those to staff in advance. 78/Brown Redevelopment Update The WEDC closed on the Weatherford property on February 12th. Mr. Weatherford has removed all belongings from the property. Elm Creek Environmental has begun the process to enroll all WEDC property in the area within the Voluntary Cleanup Program(VCP)through the Texas Council on Environmental Quality. The First Baptist Church of Wylie and the Swayze family has authorized testing to take place on their respective properties located on 2"d Street. Asbestos remediation will be complete at the old Hillcrest Manor Nursing Home and the Weatherford office on or about March 29th. Wylie PD and Fire will conduct training exercises in the facility March 30th—April 2'1 . Active Protect Summary New Projects (past 45 days) Industrial/flex space small tract being developed, 6,000 sf planning phase Industrial/flex space small tract was purchased, planning 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 Restaurant Inquiries Several national full-service and fast-casual concepts, 1 property assemblage for multi-tenant project Ongoing Projects Sargent Spec Bldg. 11,940 sf, $1.2 mm invest., now fully leased Deanan 10,140 sf expansion, 1.1 mm invest., 8 new jobs, under construction. Lanman Medical 5,552 sf, $829,000 invest., 50% leased. Brookshires Bldg. *Contract Pending—multiple users interested. Chick A D's *Recently purchased for full-service restaurant Regional Housing Starts Twenty-seven homes were permitted in Wylie for the month of February 2019. Sachse, Murphy and Lavon permitted a combined five with Inspiration not reporting. WEDC- Staff Report March 15, 2019 Page 4 of 4 No action is requested by staff for this item. Attachments Performance Agreement Summary Environmental Activity Report Hotel Occupancy Tax Report Regional Housing Permits Outstanding Performance Agreement Summary Company Performance Obligations Expiration Incentive Comment/Notes 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. 1/31/2020 $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 qualified infrastructure; 9/1/2020 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, $250,0001 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 Phrase III -CO for 127,600 sf retail space Sales tax?. (completed) 3/31/2017 reimburse quarterly Outstanding Performance Agreement Summary 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) j 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 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 $22,900 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 Outstanding Performance Agreement Summary 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; 15. 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 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 11of4 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 Outstanding Performance Agreement Summary 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 2/24/20191 $20,000 Paid 2/24/20201 $20,000 Seller financing on $350,000 note, forgiven Forgiveness#1-2-24-17 lannually beginning 1-31-17 in equal amounts of Forgiveness#2 -2-24-18 $70,000 for 5 years. 2017-2021 $350,000 Forgiveness#3-2-24-19 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. 1 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 excess of Tax 1/31/2019 Threshold. Maintain on property,taxable personal property owned by company valued at or above 1$14,375,324(Tax Threshold). 1/31/2020 Maintain on property,taxable personal property owned by company valued at or above $14,375,324 (Tax Threshold). 1/31/20211 B. Employee Incentive: Outstanding Performance Agreement Summary 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 total incentive. SCSD-Finnell Obtain a building permit no later than 12/31/18; Commence construction of building no later than 12/31/18; Obtain CO no later than 8/31/19; Complete qualified infrastructure no later than 8/31/19; and provide written notice, accompanied by one or more permanent COs on the building only. 8/31/2019 $25,000 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. 12/22/2020' $50,000 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 Outstanding Performance Agreement Summary No further performance requirements. Default 'declared reducing maximum incentive from $12 Reimbursement mm to $6 mm. 2021 spreadsheet attached 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 Qobs Tax Reimbursement Report Page Filing Allocation City of 4B VVEOC Applicable VVEOC city Total `Period Period (05 ) ) ` Toby| Rate Reimbursement Reimbursement Reimbursement May-13 Jul-13 35.623.83 17.811.87 17.811.97 71.24786 0.85 15.140.17 30.280.34 45.420.51 Jun-13 Aug-13 44.805.27 22.402.63 23.402.03 89,61<153 0.85 19.O43.34 38.O84�48 S7.12871 , . Sub-Total 224,759.15 47,761.32 95,522.64 143,283.86 Jul-13 Sap-13 30.171.94 15.085.97 15.085.97 60,343.87 0.85 12.823.07 25.640.14 38.468.22 Aug-13 Oct-13 31.815.59 15.807.80 15.807.80 6I231.18 0.85 13.436.63 26.873.25 40.308.88 Sop-13 Nov-13 34,215.75 17.107.88 17.107.88 68,431.50 0.85 14.541.69 29.083.38 43.625.08 Sub-Total 192,006.55` 1.39 ' 81'00278 ' 122,404.18 Oct-13 Dec-13 30.192.88 15.086.34 15.096.34 60,385.30 0.85 8.812.62 19.625.24 28.437.86 Nov-13 Jan-14 40.059.84 20.029.87 20.029.97 80,119.87 0.65 13.019.48 28.038.06 39.058.44 Dec-13 Fob-14 60.106.82 30.053.41 38.053.41 130,213.03 0.65 1S.53471 3S.UOS�43 58.0O4�14 . � ^ Sub-Total 260,718.86 42,366.81 84,733.63 127,10844 Jan-14 Mar-14 34.887.18 17.443.58 17.443.59 69,774.35 8.65 11.338.33 22.676.66 34.015.00 Feb-14 Apr-14 39.550.17 19.775.09 19.775.09 79,100.34 0.65 12.053.81 25.707.61 38.561.42 Mar-14 °K8ay-14 50.095.00 25.047.50 25.047.50 100,180.00 O�G5 1G.28D.88 32.5O175 48.842.G3 Sub-Total 249,064.69 40,473.01 00,946.02 121,419.04 Apr-14 Jun_14 42.836.52 21.418.20 21.41826 85.873.03 0.85 13.921.87 27,843.73 41.765.60 May-14 Jul-14 44.483.44 22.241.72 22.241.72 08[96188 0.05 14.457.12 28.814.24 43.371.35 Jun-14 Aug-14 54.191.08 27.095.53 27.095.53 108,30212 0.85 17.612.08 35.224�19 52.836.28 Sub-Total 283,02203 45,991.08 91.08216 137,973.24 Jul-14 Sep-14 41.601.13 20.800.58 20.800.56 83,202.25 0.65 13.520.37 27.040.73 40.561.10 Aug-14 Oct-14 46.838.78 23.419.38 23.419.38 83.077.52 0.85 15.222.60 30.445.18 45.687.79 Sep-14 Nov-14 58.574.10 28.287.05 29.287.05 117,14/I10 0.65 19.038.58 38.073.16 57.188.74 Sub-Total 294`02790 47,779.54 95,559.09 143,338'63 ' Oct-14 Dec-14 46.397.97 23.198.88 23.198.98 92,795.93 0.65 15,079.34 30,15808 45,238.02 Nov-14 Jon-15 62.438.87 31.219.43 31.219.43 12487773 0.85 30\202.63 40,585.36 60,877.89 Dec-14 Fab-15 83.019.08 46.509.54 - 40.508.54 186,038.17 0.05 3{\23Y�20 0(l46�4Y @{l8Q36f Sub-Total '-�Y83` - m `��7 � 65,60317 131.206.34 196,809.52 Jon-15 Mar-15 42.819.35 21.458.07 21.458.67 85,838.09 0.65 13,848.78 37,89757 41'846.36 Fab-15 Apr-15 44.289.71 22.149.80 22.148.86 88,599.42 0.65 /4'397.41 2/I794.81 43,192.22 K8ar-15 May-15 81.991.88 30.905.94 30.995.94 123883.70 0.65 20,14738 40,284.72 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 50,49 7.80 100,995.60 151,493.39 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°J%) (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-18 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-18 Jan-19 64,192.89 32,096.45 32,096.45 128,385.78 0.65 20,862.69 41,725.38 62,588.07 Dec-18 Feb-19 109,758.45 54,879.22 54,879.22 219,516.89 0.65 35,671.49 71,342.99 107,014.48 Hotel Occupancy Tax Receipts 2014 2015 2016 201.7 2018 2019 January $3,332.78 $3,910.22 $3,960.95 8,369.84 $8,848.69 $7,514.03 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 June 5,692.40 6,182.22 8,812.25 6,605.05 17,191.21 July 5,201.94 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 14,607.81 November 5,213.87 5,168.76 7,054.65 5,031.62 14,489.92 December 4,930.79 6,234.68 6,708.86 6,637.89 8,215.58 Total $59,175.49 $62,678.63 $93,043.64 $71,614.63 $160,358.15 $7,514.03 * 2 Hotels reporting beginning in December 2017. ** December 2018 and January 2019 represents 1 of 2 hotels reporting. Active Environmental Program Tracking Kirby - Former CRI Project Total: 71,288.91 Contract$104,200 910.00 11/30/17 I Labor: Frank Clark, Michael Henn 788.00 , 12/31/17 I 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 JAdd'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'(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 ,MSD 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 804.00 2/22/191 Project Mgmt; Correspondence with TCEQ 1,725.66 2/22/191 Drinking Water Survey Report 4,553.05 2/22/19 Prepare MSD Application 71,288.91 Spent ''Contracted Total W&M Expenditures.. $71,288.91 _ $104,200 Regional Housing Permits Wylie Lavon 11 12 13 14 15 16 17 18 19 January 20 16 18 14 46 9 15 41 28 January 2 4 5 4 6 2 12 2 3 Fbruary 9 22 14 20 31 4 36 54 27 February 11 2 5 11 6 5 1 7 0 Marh 28 18 17 30 31 43 33 61 March 3 6 3 17 8 3 0 1 18 29 38 10 57 41 70 49 April 1 12 24 7 11 1 1 17 May 18 20 22 26 68 101 45 48 May 1 0 9 17 4 4 11 7 Jun 19 13 11 9 57 58 98 47 June 9 2 5 12 5 1 7 15 JiL 20 19 18 29 36 34 60 63 July 2 3 1 14 12 1 1 11 16 20 19 19 30 25 11 50 August 9 6 3 1 5 0 12 0 prnber 22 15 8 17 24 18 46 23 September 6 7 6 2 7 0 5 9 16 28 30 21 32 26 33 45 October 4 2 1 9 5 0 0 7 Novrninr 5 14 18 20 33 11 42 34 November 5 3 2 1 2 0 14 3 10 16 23 65 38 39 18 16 December 7 1 4 5 6 0 40 0 ToTAL 201 230 236 280 483 409 507 531 55 TOTAL 60 48 68 100 77 17 104 79 3 Murphy Sachse 11 12 13 14 15 16 17 18 19 11 12 13 14 15 16 17 18 19 January 4 1111 26 11111111111 0 0 January 14 : 13 18 14 16 4 15 6 February 14 4 MIM 4 M' 6 0 February 3 11 8 29 17 31 15 • March 9 6 6 8 4 El 4 0 III March • 12 1 13 24 31 23 5 April 8 10 DIM 8 III 0 III April May 14 0 j 0 III May 11 17 10 21 6 21 15 9 June 6 19 ® 6 II 4 0 1 0 1111 June 8 17 14 16 38 25 14 3 July IN 16 rigs_ 4 8 111111 July 7 14 15 30 12 22 17 4 August 4 Ell 16 ©® 0 0 al August 5 19 10 29 41 32 : • September 4 10 10 m© 6 0 0 ® September 12 12 17 23 27 20 3 2 October 16 16 4 0 0 0 III October : 15 25 18 31 29 10 6 NovemberU®© f 6 0 nil November . 9 12 27 26 12 6 6 December 8 11111111111 0 1111151111 December 7 10 11 39 12 11 2 3 TOTAL 70 mcc®®Emin 0 TOTAL 98 148 149 280 260 274 132 70 11 Inspiration Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Tota 15 5 12 10 6 17 13 14 4 13 8 5 11 118 16 10 19 11 9 7 13 40 8 14 13 18 2 164 17 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 19 4 4 ylie cono is evelop ent Core oration E 0 - A DU TO: WEDC Board of Directors FROM: Sam Satterwhite, Executive Direct° SUBJECT: Future Agenda Items DATE: March 11, 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.