10-21-2003 (WEDC) Minutes Minutes
WYLIE ECONOMIC DEVELOPMENT CORPORATION
October 21, 2003
Board Members Present
Gary Bowland
Marvin Fuller
Kevin St. John (departed at 8:30 a.m.)
John Yeager
Merrill Young(departed at 8:10 a.m.)
Staff Present
Samuel Satterwhite, Executive Director
Others Present
Mark Hardaway, Greenway Investments
Jack O'Brian, O'Brian&Associates
Todd Petty, Greenway Investments
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 October 21, 2003 in the Dividend Room of Inwood National
Bank located at 201 North Ballard, Wylie, Texas.
The meeting was called to order by President Marvin Fuller at 7:00 a.m.
Presentation:
ITEM NO. 1 - Presentation by Greenway Investment Company Regarding Development of
WEDC Property Located at 404 S. Highway 78.
Representatives of Greenway Investment Company made a presentation to the WEDC Board of
Directors which was accompanied by an offer to purchase WEDC property located at 404 S.
Highway 78. The presentation included a brief history of Greenway activity in Wylie. Greenway
also indicated the type of construction, layout, and potential clientele interested in the Wylie
market. The layout was a typical strip development utilizing the length of the frontage while
retaining the back of the site for future office development. Greenway requested an eighteen
month option period to market the site and await completion of State Highway 78.
WEDC—Minutes
October 21, 2003
Page 2
Action Items:
ITEM NO. 1 — Consider and Act Upon Approval of Minutes for the September 29, 2003,
Regular Board of Directors Meeting of the Wylie Economic Development Corporation.
MOTION: A motion was made by John Yeager and seconded by Gary Bowland to
approve the minutes for the September 29, 2003, 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 the September, 2003 Treasurer's
Report for the Wylie Economic Development Corporation.
President Fuller requested that notations be attached to the WEDC Treasurer's Report regarding
property tax participation and settlement agreements with Moulding Associates and Extruders
Division of Atrium Companies, Inc.
MOTION: A motion was made by John Yeager and seconded by Gary Bowland to
approve the September, 2003 Treasurer's Report for the Wylie Economic
Development Corporation. The WEDC Board of Directors voted 3 —FOR
and 0—AGAINST in favor of the motion.
ITEM NO. 3 —EXECUTIVE SESSION:
The WEDC Board of Directors convened into Executive Session at 8:45 a.m. to hold
deliberations surrounding the sale of WEDC property located at 404 S. Highway 78 in
accordance with Section 551.072, Government Code, Vernon's Texas Code Annotated (Open
Meetings Act).
ITEM NO. 4—RECONVENE INTO OPEN MEETING:
The WEDC Board of Directors reconvened into open meeting at 9:15 a.m. No action was taken
as a result of Executive Session.
ITEM NO. 5 — Consider and Act Upon Issues Surrounding the Door Program Initiated by
Moulding Associates, Inc. and the WEDC.
The WEDC was approached by Mr. Bob Heath with a request to participate in the Door program
initiated by the WEDC and Moulding Associates. While the Board recognized that the program
ended in early 2002, Board members believed that the program could be applied on a case-by-
case basis. Because of Mr. Heath's wholesale renovation of the subject properties, Moulding
Associates agreement to participate, and the entryway to downtown being impacted significantly,
WEDC —Minutes
October 21, 2003
Page 3
the WEDC Board of Directors believed that supporting Mr. Heath in his efforts at this location
supports the WEDC's secondary charge of community development. Staff informed the Board
that the WEDC's participation level would be approximately$2,200.
MOTION: A motion was made by Gary Bowland and seconded by John Yeager
authorizing the WEDC Executive Director to participate with Moulding
Associates in providing new entryway doors to two businesses being
renovated by Mr. Bob Heath. The WEDC Board of Directors voted 3 —
FOR and 0—AGAINST in favor of the motion.
ITEM NO. 6—Staff Update.
Staff discussed issues surrounding office /warehouse development, the Freeport Tax Exemption,
a tax reimbursement program for Extruders, and the Greenway Investment Company interest in
the Pennington tract on Westgate Way.
ITEM NO. 7—Citizen Participation.
There being no citizen participation, President Fuller proceeded to Item No. 7.
ITEM NO. 8—Adjourn.
There being no further business, the meeting was adjourned at 9:20 a.m.
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Marvin Fuller, President
Attest: A
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Samuel D.R. Satterwhite
Executive Director