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05-26-2000 (WEDC) Minutes Minutes WYLIE ECONOMIC DEVELOPMENT CORPORATION Tuesday, May 26, 2000 Board Members Present: Gary Bowland Marvin Fuller Kevin St. John— arrived at 7:25 a.m. John Yeager Merrill Young Staff Present: Samuel Satterwhite, Executive Director Ashley Gillean, Administrative Assistant With notice of the meeting posted in time and manner required by law and a quorum of Board members present, the Board of Directors of the Wylie Economic Development Corporation (WEDC) met in Regular Session on May 26, 2000 in the Woodbridge Golf Club Conference Room at 7400 Country Club Dr., Wylie, Texas. The meeting was called to order by Chairman Yeager at 7:00 a.m. ITEM NO. 1 - Discuss and Consider Approval of Minutes for the March 29, 2000 Regular Board of Directors Meeting of the Wylie Economic Development Corporation. MOTION: A motion was made by Merrill Young and seconded by Gary Bowland to approve the minutes for the March 29, 2000 Regular Board of Directors Meeting of the Wylie Economic Development Corporation. The WEDC Board of Directors voted 3 - FOR and 0 - AGAINST in favor of the motion. Mr. Fuller abstained due to his absence from the meeting. ITEM NO. 2 - Discuss and Consider Approval of Minutes for the April 6, 2000 Regular Board of Directors Meeting of the Wylie Economic Development Corporation. MOTION: A motion was made by Marvin Fuller and seconded by Gary Bowland to approve the minutes of the April 6, 2000 Regular Board of Directors Meeting of the Wylie Economic Development Corporation. The WEDC Board of Directors voted 4 - FOR and 0 - AGAINST in favor of the motion. WEDC - Minutes May 26, 2000 Page 2 ITEM NO. 3 - Discuss and Consider Approval of Minutes for the April 17, 2000 Regular Board of Directors Meeting of the Wylie Economic Development Corporation. MOTION: A motion was made by Marvin Fuller and seconded by Merrill Young to approve the minutes of the April 17, 2000 Regular Board of Directors Meeting of the Wylie Economic Development Corporation. The WEDC Board of Directors voted 4 - FOR and 0 - AGAINST in favor of the motion. ITEM NO. 4 — Discuss and Consider Approval of the March, 2000 Treasurer's Report for the Wylie Economic Development Corporation. Board Member Bowland commented that the addition of the Extruders facility is not reflected as an asset on the balance sheet. As well the liability to American National Bank is not reflected. Mr. Bowland requested the March treasurer's report forward be amended to reflect those omissions. MOTION: A motion was made by Gary Bowland and seconded by Merrill Young to approve the March, 2000 Treasurer's Report as amended for the Wylie Economic Development Corporation. The WEDC Board of Directors voted 5 —FOR and 0—AGAINST in favor of the motion. ITEM NO. 5 — Discuss and Consider Approval of the April, 2000 Treasurer's Report for the Wylie Economic Development Corporation. MOTION: A motion was made by Kevin St. John and seconded by Gary Bowland to approve the April, 2000 Treasurer's Report as amended for the Wylie Economic Development Corporation. The WEDC Board of Directors voted 5 —FOR and 0—AGAINST in favor of the motion. ITEM NO. 6 — Discuss and Consider Issues Surrounding an Incentive Package to Assist in the Consolidation of Corporate Facilities for Project Cornerstone. On May 10, 2000, staff met with Mr. Tony Noe, Corporate Supply Chain Manager for Carlisle Coating and Water Proofing, Hardcast Division, to discuss the potential consolidation and expansion of Carlisle facilities to Wylie. Carlisle currently occupies a 45,000 square foot manufacturing facility in Wylie as well as operations in Fontana, California and Supulpa, Oklahoma. Mr. Noe conveyed to staff that Carlisle would prefer to consolidate all operations into a 100,000 square foot facility in Wylie, Texas. Current employment (150) would be increased by 50 individuals. Staff commented that there may be opportunity for the WEDC to purchase a site to support future Carlisle operations. If that were the case, the WEDC must have assurances from Carlisle/new property owner that the site not be utilized under the existing use. The intent of this WEDC - Minutes May 26, 2000 Page 3 WEDC requirement would be for the site to redevelop into a retail use, as is the balance of the surrounding area. The above was provided to the Board as information only. No action was taken. ITEM NO. 7 — Discuss and Consider Issues Surrounding the Relocation of Cates Control Systems to Premier Business Park. Cates representatives are currently analyzing bids for a 40,000 square foot facility to be located at the southeast corner of Premier Business Park. Cates has until June 1, 2000 to complete due diligence and accept the site as satisfactory to build upon. Once the acceptance is made, staff will begin to draft a Loan Agreement. The above was provided to the Board as information only. No action was taken. ITEM NO. 8 — Discuss and Consider Issues Surrounding the Development of Atrium Companies, Inc.,Extruders Division within Premier Business Park. Staff updated the Board regarding recent correspondence between the WEDC and Extruders. A letter stating the WEDC rejection of Extruders request to restructure the Option as defined in the Conditional Grant Agreement between Atrium Companies, Inc., Extruders Division, and the WEDC was delivered. Also conveyed in the first letter is the intent of the WEDC to enter into negotiations with Cates Controls, Inc. for the conveyance of ±4 acres, more specifically a portion of the Option Tract. A second letter was sent offering an alternative to the Option, which provided for the conveyance of 4 acres to Extruders. Of particular interest, as assumed by the WEDC, was an additional 15 feet of width to their existing tract. Both of the documents had `respond by' dates which have expired. Extruders has not contacted the WEDC to date regarding the above information. The above was provided as information only to the Board. There was no action taken. ITEM NO. 9—Citizen Participation. There being no citizens present, the Chairman proceeded to Item No. 10. WEDC - Minutes May 26, 2000 Page 4 ITEM NO 10 - Adjourn. There being no further business, the meeting was adjourned at 8:05 a.m. &er, Prnt Attest: Samuel D.R. Satterwhite Executive Director