10-12-2000 (WEDC) Minutes Minutes
WYLIE ECONOMIC DEVELOPMENT CORPORATION
Thursday, October 12, 2000
Board Members Present:
Gary Bowland
Marvin Fuller
Kevin St. John
John Yeager
Merrill Young—arrived at 3:19
Staff Present:
Samuel Satterwhite, Executive Director
Anthony Johnson, City Manager
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 October 12, 2000 in the Wylie Chamber of Commerce
Conference Room at 108A W. Marble, Wylie, Texas.
The meeting was called to order by Chairman Yeager at 2:05 p.m.
ITEM NO. 1 — Consider and Act Upon Approval of Minutes for the August 21, 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 for the August 21, 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. 2 — Consider and Act Upon Approval of the Minutes for the September 5, 2000
Regular Board of Directors Meeting of the Wylie Economic Development Corporation.
Board Member St. John indicated that he was not present at the September 5, 2000 meeting.
Staff noted the oversight and indicated the minutes would be amended.
MOTION: A motion was made by Gary Bowland and seconded by Marvin
Fuller to approve the minutes as amended for the September 5,
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.
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October 12, 2000
Page 2
ITEM NO. 3 — Consider and Act Upon Approval of the August 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 August Treasurer's Report for 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 Issues Surrounding the Development of a Carlisle Coatings &
Waterproofing, Inc., Hardcast Division Facility within Premier Business Park.
Staff informed the Board that Mr. Tony Noe, Corporate Supply Chain Manager for Hardcast, had
indicated that a decision could be made as early as November 1, 2000. Carlisle has made
inquiries with two local general contractors for bids on construction costs and has met with
several brokers to discuss opportunities for the sale/redevelopment of the Carlisle site.
The above was provided as information only. No action was taken.
ITEM NO. 5— Consider and Act Upon Issues Surrounding the Development of a Lone Star
Circuits Site within Premier Business Park.
Staff presented to the Board that the Lone Star Circuits project, an active project for the past± 18
months, is finally coming to a close. Phase I of the project (102,000 square feet) is scheduled to
begin construction by January 2001. Phase II (40,000 square feet) is proposed to begin within 18
months and Phase III (60,000 square feet) will begin within 5 years.
The WEDC will value the property at $589,072 and will enter into a note with Brad and
Catherine Jacoby for that value. Should Phase I be completed within the identified time frames,
the WEDC will forgive the first four of five payments, totaling $441,423. The final payment of
$147,649 will only be forgiven if Phase I & II are completed and a building permit for Phase III
is obtained within the specified time frames.
Staff provided the Board with a copy of the drafted Loan Agreement between the WEDC and
Lone Star Circuits. Staff recommended that the WEDC Board of Directors approve the Loan
Agreement between the WEDC and Brad D. Jacoby and Catherine G. Jacoby and all
documentation required to effectuate the Corporations' Loan Agreement with Brad and Catherine
Jacoby. Staff also recommended that the WEDC Board of Directors authorize John Yeager,
Chairman of the Board of the WEDC, to execute all documentation required to effectuate the
Corporations' Loan Agreement with Brad D. Jacoby and Catherine G. Jacoby.
MOTION: A motion was made by Gary Bowland and seconded by Kevin St. John to
approve the Loan Agreement and all documentation required to effectuate
the Loan Agreement between the WEDC and Brad D. Jacoby and Catherine
G. Jacoby, further authorizing John Yeager, Chairman of the Board to
execute all documentation required to effectuate the Corporations' Loan
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October 12, 2000
Page 3
Agreement. The WEDC Board of Directors voted 3 — FOR and 0 —
AGAINST in favor of the motion with Board Member Fuller abstaining
due to a conflict of interest.
ITEM NO. 6 — Discuss Issues Surrounding Wylie Economic Development Corporation
Property Located at 404 S. Highway 78.
Staff presented to the Board that there may be a threat to the redevelopment of the Extruders site
based upon the inability of the County government to convey the KCS right-of-way to existing
property owners. The worst case scenario is that a third party obtain the right-of-way through the
county mandated bid process, and inhibit the redevelopment of the area by waiting for land
values to reach"X" amount. The Board instructed staff to work with the city manager to identify
alternatives to the right-of-way going out to bid via the county.
The above was provided as information only. No action was taken.
ITEM NO. 7 — Discuss Issues Surrounding a Retail Development Generally Located at the
Southwest corner of Westgate Way and F.M. 544.
Staff presented to the Board a request for assistance from Tractor Supply Company (TSC) which
is considering a location near the intersection of Westgate Way and F.M. 544. The request was
for assistance in the extension of a sewer line. The TSC project was identified as preliminary.
Staff indicated detailed information would be provided as received.
The above was provided as information only. No actions was taken.
ITEM NO. 8—EXECUTIVE SESSION:
The Wylie Economic Development Corporation Board of Directors
convened into Executive Session at 2:05 p.m. to consult with the
Corporation Attorney, as authorized in the Local Government
Code, Section 551.071.
ITEM NO. 9—RECONVENE FROM EXECUTIVE SESSION:
The Wylie Economic Development Corporation Board of Directors
reconvened from Executive Session at 2:55 p.m. There were no
decisions made as a result of discussions held in Executive
Session.
ITEM NO. 10—Citizen Participation.
There being no citizens present, the Chairman proceeded to Item No. 11.
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October 12, 2000
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ITEM NO 11 - Adjourn.
There being no further business, the meeting was adjourned at 4:20 p.m.
Jo Ye r, President
Attest:
Samuel D.R. Satterwhite
Executive Director