02-10-2003 (WEDC) Minutes Minutes
WYLIE ECONOMIC DEVELOPMENT CORPORATION
February 10,2003
Board Members Present
Gary Bowland
Marvin Fuller(arrived at 7:15 a,m.
Kevin St. John(arrived at 7:10 a.m., departed at 8:10 a.m.)
John Yeager
Merrill Young
Staff Present
Samuel Satterwhite, Executive Director
With notice of the meeting posted in time and manner required by law and a quorum of Board
members present, the Board of Directors of the Wylie Economic Development Corporation
(WEDC) met in Regular Session on February 10, 2003 in the Conference Room of Woodbridge
Golf Club located at 7400 Country Club Drive, Wylie, Texas.
The meeting was called to order by President John Yeager at 7:03 a.m.
ITEM NO. 1 — Consider and Act Upon Approval of Minutes for the December 20, 2002,
Regular Board of Directors Meeting of the Wylie Economic Development Corporation.
MOTION: A motion was made by Merrill Young and seconded by John Yeager to
approve the minutes for the December 20, 2002, 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.
ITEM NO. 2 — Consider and Act Upon Approval of December, 2002 Treasurer's Report
for the Wylie Economic Development Corporation.
MOTION: A motion was made by Kevin St. John and seconded by Merrill Young to
approve the December, 2002 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. 3 Discuss and Act Upon Issues surrounding development of WEDC Property
Located at 404 S. Highway 78.
Staff reported that all corrections had been made to the Report of Petroleum Hydrocarbon
Impacted Soil Assessment, Cleanup and Disposal performed by Pond, Robinson, & Associates.
WEDC—Minutes
February 10, 2003
Page 2
Via conference call, Ms. Elizabeth Hurst (WEDC Counsel) indicated that Mr. Dick Record of
Cirrus and Associates has confirmed the procedural accuracy and recommendations of the Pond,
Robinson report.
MOTION: A motion was made by Gary Bowland and seconded by Marvin Fuller to
accept the report as presented by Pond, Robinson, & Associates. The
WEDC Board of Directors voted 4—FOR and 0—AGAINST in favor of
the motion.
ITEM NO. 4 — Discuss and Act Upon Issues Surrounding the Offering of Incentives to
Project First Priority.
Staff reported to the Board that representatives of a manufacturing firm have contacted the
WEDC and requested a proposal for assistance. Project First Priority proposes an initial 80,000
square foot facility with a 160,000 square foot build-out. Thirty-nine individuals will be hired
from the local area to staff start-up operations and an initial $5 million investment will be made.
Staff presented an incentive package which would compensate Project First Priority up to
$140,000 over five years should certain performance measures be met. Mr. Fuller and St. John
both stated that the WEDC might have to be more aggressive based upon the declined economic
climate and heightened competition for business expansions by surrounding communities.
The Board instructed staff to pursue Project First Priority based upon the presented incentive
package. However, the Board emphasized the need to be prepared to consider other incentive
options during negotiations.
The WEDC Board of Directors took no formal action.
ITEM NO. 5—Staff Update.
Staff updated the WEDC Board of Directors on the construction of Home Depot, Wendy's and
traffic signalization on Highway 78 and F.M. 544.
ITEM NO. 6— Citizen Participation.
There being no citizen participation, President Yeager proceeded to Item No. 7.
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WEDC—Minutes
February 10, 2003
Page 3
ITEM NO. 7—Adjourn.
There being no further business, the meeting was adjourned at 8:25 a.m.
John Y ger, resident
Attest:
Samuel D.R. Satterwhite
Executive Director