09-03-1997 (WEDC) Minutes Minutes
WYLIE ECONOMIC DEVELOPMENT CORPORATION
Wednesday, September 3, 1997
Board Members Present:
Marvin Fuller
Kevin St. John
J.C. Worley
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 September 3, 1997 in the Dining Room of Ballard Street
Cafe and Grill at 112 N. Ballard Street, Wylie, Texas.
The meeting was called to order by President John Yeager at 7:33 a.m.
ITEM NO. 1 - Discuss and Consider Approval of the FY 1997 -1998 Budget for the Wylie
Economic Development Corporation.
Staff informed the Board that the appropriate changes have been made to include holding an
Industrial Luncheon, a $6,000 lease contingency was included should the WEDC need to find
other office space, and a presence within Inside Collin County Business was maintained. Sales
tax revenue was estimated to be $280,500 with interest earnings of 11,500 totaling $292,000 in
revenues. Personal services totaled $76,010 for an Executive Director and Administrative
Assistant. Supplies totaled $10,450. Maintenance materials totaled $670. Contractual services
totaled $194,640 which includes $126,150 in potential incentives. Finally, capital outlay totaled
$10,230. Within capital outlay, staff has budgeted for a new copier estimated at $9,500. Total
expenses equal $292,000.
MOTION: A motion was made by Merrill Young and seconded by J.C. Worley to
approve the WEDC FY 1997 - 1998 budget as submitted. The WEDC
Board of Directors voted 5 - FOR and 0 - AGAINST in favor of the
motion.
ITEM NO. 2 - Discuss Issues Surrounding the Development of a Kansas City Southern
Planned Development in Wylie, Texas.
Staff updated the Board on the activities of groups supporting and contesting the KCS proposal
and the upcoming Referendum on September 20, 1997. Staff indicated that groups on both sides
of the issue were advertising the facts as they interpret them and that the entire community was
becoming much more educated on the proposal.
WEDC - Minutes
September 3, 1997
Page 2
ITEM NO. 3 - Citizen Participation.
There being no citizens present, President Yeager moved to Item No. 4.
ITEM NO. 4 - Adjourn.
There being no further business, the meeting was adjourned at 8:25 a.m.
ohn Y ger, resident
Attest:
Samuel D.R. Satterwhite
Executive Director