07-30-2003 (WEDC) Minutes Minutes
WYLIE ECONOMIC DEVELOPMENT CORPORATION
July 30,2003
Board Members Present
Gary Bowland
Marvin Fuller
Kevin St. John
John Yeager
Staff Present
Samuel Satterwhite, Executive Director
Others Present
Clay Smith, Staubach Company
Stephen Summers, Staubach Company
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 July 30, 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 7:15 a.m.
ITEM NO. 1 — Consider and Act Upon the Election of Officers for the Wylie Economic
Development Corporation (WEDC) Board of Directors.
President Yeager presented the following individuals as officers of the WEDC.
Marvin Fuller President
Merrill Young Vice President
Kevin St. John Secretary
Gary Bowland Treasurer
MOTION: A motion was made by Kevin St. John and seconded by Gary Bowland to
approve the slate of officers as presented for 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 Issues Surrounding the Development of WEDC
Property Located at 404 S. Highway 78.
Clay Smith and Stephen Summers from the Staubach Company were present discuss issues
surrounding the marketing and sale of WEDC Property located at 404 S. Highway 78. As
WEDC—Minutes
July 30, 2003
Page 2
indicated by Mr. Smith, the road completion will drive the sale of WEDC property. Issues which
must be resolved well prior to road completion are the creation of deed restrictions, negotiate
with TXDOT for the location of a light to one of the two median breaks, and who will pay for the
light. Also important to the development of the WEDC site is the success of retail development
such as Chili's. The more successful the Chili's performs, the more eager the retail development
community will be to further invest in Wylie.
Summers and Smith both believed that the market will bear $7.50 per square foot for the WEDC
site. Both Staubach representatives also agreed that clearing up issues regarding County property
adjacent to the WEDC site will facilitate a sale in the future.
Board members instructed staff to negotiate for the purchase of County right-of-way and set the
asking price at $7.50 per square foot. President Fuller instructed staff to discuss the purchase of
County property with Commissioner Hoagland, revisiting the potential for conveying County
land to the WEDC at less than market value.
MOTION: A motion was made by Kevin St. John and seconded by John Yeager to set
the asking price for WEDC property at $7.50 per square foot as well as
authorizing staff to initiate negotiations for the purchase of County land
fronting the WEDC site. The WEDC Board of Directors voted 4 — FOR
and 0—AGAINST in favor of the motion.
ITEM NO. 3 — Consider and Act Upon Approval of Minutes for the June 26, 2003, Regular
Board of Directors Meeting of the Wylie Economic Development Corporation.
MOTION: A motion was made by Gary Bowland and seconded by John Yeager to
approve the minutes for the June 26, 2003, 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 — Consider and Act Upon Approval of the June, 2003 Treasurer's Report for
the Wylie Economic Development Corporation.
President Fuller directed staff to ensure that the decision to not pursue issues relating to Hoffman
bankruptcy proceedings is well documented.
MOTION: A motion was made by John Yeager and seconded by Kevin St. John to
approve the June, 2003 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.
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July 30, 2003
Page 3
ITEM NO. 5 — Consider and Act Upon Issues Surrounding the WEDC FY 2003 — 2004
Budget.
Staff presented a revised FY 2003 — 2004 WEDC Budget from a prior version reviewed during
the July 30, 2003 WEDC Board Meeting. Staff has projected a$230,000 beginning fund balance
and $589,820 for sales tax receipts. Total Personnel Services have been estimated at $157,920,
Supplies at $7,665, Land Purchase at $127,020, and Contractual Services at $529,215. Within
Contractual Services, staff has proposed $370,339 for incentives with $245,499 allocated for
future projects.
MOTION: A motion was made by Kevin St. John and seconded by Gary Bowland to
approve the FY 2003 — 2004 Budget for the Wylie Economic
Development Corporation. The WEDC Board of Directors voted 4—FOR
and 0—AGAINST in favor of the motion.
ITEM NO. 6—Staff Update.
Staff discussed issues surrounding Chili's and Wal Mart construction plans, Moulding
Associates expansion plans as well as a business update on Quality Steel Erectors. Staff made no
recommendation to the WEDC Board of Directors regarding the above issues, therefore no
motion was required.
ITEM NO. 7—Citizen Participation.
There being no citizen participation, President Fuller proceeded to Item No. 8.
ITEM NO. 8—Adjourn.
There being no further business,the meeting was adjourned at 8:50 a.m.
Marvin Fuller,President
Attest:
Samuel D.R. Satterwhite
Executive Director