10-16-2019 (WEDC) Agenda Packet v
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ECONOMIC DEVELOPMENT CORPORATION
Regular Meeting Agenda
October 16, 2019—7:30 A.M.
WEDC Offices—Conference Room
250 South Highway 78 —Wylie, Texas
ToddWintters..... .......... .......... . ....... . .......... . .. .... . ........ .......... ...a.... ......,... President
Demond Dawkins Vice President
JohnYeager ........................................................ . .. ...... ....... . .... ..... ................... Secretary
GinoMulligi....... .. ....... ......... ......:., .... ,..... . ........ ...r........., .. ., Treasurer
To be appointed..., ........ ......... . ......,. ....... .......... .........,. .... Board Member
Mayor Eric Hogue Ex-Officio Member
Chris Hoisted,City Manager........ ......... ......... Ex-Officio Member
Samuel Satterwhite.....,... Executive Director
Jason Greiner...... ......... ......,.. ... .......... ,.. ..... ... . .:. . .. .......,...... .,Assistant Director
Angel Wygant..... ......... . .......: ...... ... . ........ ..........Senior Assistant
In accordance with Section 551.042 of the Texas Government Code, this agenda has been posted at the Wylie
Municipal Complex, distributed to the appropriate news media, and posted on the City Website: ti+Yww.wyfretetas..gQy
within the required time frame.
CALL TOO ' 1 ER
Announce the presence of a Quorum.
INVOCATION& PLEDGE OF ALLEGIANCE
CITIZEN PARTICIPATION
Residents may address the WEDC Board regarding an item that is or is not listed on the agenda. Residents must
provide their name and address. The WEDC Board requests that comments be limited to three (3) minutes. In
addition, the WEDC Board is not allowed to converse, deliberate or take action on any matter presented during citizen
participation.
ACTION ITEMS
I. Consider and act upon approval of the September 24, 2019 Minutes of the WEDC Board of
Directors Meeting.
II. Consider and act upon approval of the September 2019 WEDC Treasurer's Report.
III. Consider and act upon voiding a First Amendment to Performance Agreement between the
WEDC and Cross Development, LLC.
IV. Consider and act upon a First Amendment to a Performance Agreement between the WEDC
and Cross Development, LLC.
V. Consider and act upon a Performance Agreement between the WEDC and North Dallas
Wylie Land Investors, LLC.
WEDC—Agenda
October 16, 2019
Page 2 of 3
DISCUSSION ITEMS
VI. Discussion of issues surrounding Thoroughfare Impact Fees.
VII. Staff report: review issues surrounding WEDC Performance Agreement Summary, Hotel
Occupancy Tax, environmental activity summary, Brown & 78 redevelopment update, 544
Gateway redevelopment update, FM 544 waterline, and regional housing starts.
VIII. Discussion of issues to be placed on future WEDC Board Meeting agenda (no substantial
consideration/discussion allowed).
EXECUTIVE SESSION
If during the course of the meeting covered by this notice, the Wylie Economic Development
Corporation(WEDC) should determine that a closed or executive meeting or session of the WEDC
Board, or a consultation with the attorney for the City, should be held or is required, then such
closed or executive meeting or session or consultation with attorney as authorized by the Texas
Open Meetings Act, Texas Government Code§551.001 et. seq., will be held by the WEDC Board
at the date, hour, and place given in this notice as the WEDC Board may conveniently meet in
such closed or executive meeting or session or consult with the attorney for the City concerning
any and all subjects and for any and all purposes permitted by the Act, including, but not limited
to, the following sections and purposes:
Texas Government Code Sections:
§551.071 —Private consultation with an attorney for the City.
§551.072—Discussing purchase, exchange, lease or value of real property.
§551.074—Discussing personnel or to hear complaints against personnel.
§551.087—Discussing certain economic development matters.
§551.073—Discussing prospective gift or donation to the City.
§551.076—Discussing deployment of security personnel or devices or security audit.
Section 551.072 (Real Estate) of the Local Government Code, Vernon's Texas Code Annotated
(Open Meetings Act). Consider the sale or acquisition of properties located at:
• State Highway 78 & F.M. 544
• State Highway 78 & Cooper
• State Highway 78 & Ballard
• State Highway 78 & 5th
Section 551.087 (Economic Development) of the Local Government Code, Vernon's Texas Code
Annotated(Open Meetings Act). Deliberation regarding commercial or financial information that
the WEDC has received from a business prospect and to discuss the offer of incentives for:
• Project 2018-2a
• Project 2019-5b
WEDC—Agenda
October 16, 2019
Page 3 of 3
CONVENE INTO OPEN MEETING
Take any action as a result from Executive Session
JOU' MENT
CERTIFICATION
I certij>that this Notice of Meeting was posted on this 11th day of October 2019 at 5:00 p.m. as required by law in
accordance with Section 551.042 of the Texas Government Code and that the appropriate news media was contacted
As a courtesy, this agenda is also posted on the City of Wylie website: www.wyjjegvg,ggy.
Stephanie Storm,City Secretary Date Notice Removed
Minutes
Wylie Economic Development Corporation
Board of Directors Meeting
Tuesday, September 24, 2019—6:30 A.M.
WEDC Offices—Conference Room
250 South Highway 78 —Wylie, Texas
CALL TO ORDER
Announce the presence of a Quorum
President Bryan Brokaw called the meeting to order at 7:34 a.m. Board Members present were
John Yeager, Todd Wintters, Demond Dawkins and Gino Mulliqi.
City Manager Chris Hoisted was present.
WEDC staff present was Executive Director Sam Satterwhite, Assistant Director Jason Greiner,
and Senior Assistant Angel Wygant.
INVOCATION & PLEDGE OF ALLEGIANCE
Board Member Yeager gave the invocation and led the Pledge of Allegiance.
CITIZEN PARTICIPATION
With no citizen participation, President Brokaw moved to Action Items.
ACTION ITEMS
ITEM NO. 1—Consider and act upon approval of the August 21, 2019 Minutes of the Wylie
Economic Development Corporation (WEDC)Board of Directors Meeting.
MOTION: A motion was made by Todd Wintters and seconded by Demond Dawkins to
approve the August 21, 2019 Minutes of the Wylie Economic Development
Corporation. The WEDC Board voted 5 —FOR and 0 —AGAINST in favor
of the motion.
ITEM NO. 2 — Consider and act upon approval of the August 2019 WEDC Treasurer's
Report.
Staff reviewed the Treasurers Report and called the Board's attention to the following highlights:
Sales Tax Receipts for September came in at $243,048 representing an increase of 13.88% over
2018 receipts. With 2 months remaining in the Fiscal Year, Sales Tax receipts are just under 15%
over FY 2018.
WEDC —Minutes
September 24, 2019
Page 2 of 5
In August the WEDC made the final payment on American National Bank Loan
#88148481(Buchanan) for property the WEDC purchased on Highway 78 and on September 2'd
the WEDC made the final payment on American National Bank Loan#88158043 (K&M—Hobart)
for property purchased on Birmingham and Commerce St.
During the month of August, the WEDC paid an incentive to Mr. Patel in the amount of$11,500
for downtown parking improvements. This payment fully satisfied the WEDC's obligation under
the Performance Agreement. Additionally, the WEDC paid S31,477 in environmental clean-up
costs associated with the FM 544 Gateway site, spent $6,640 for regional advertising, in
partnership with the City of Wylie, associated with the Rodeo, and paid the earnest money and
option fee for the purchase of property located at 302 N. 2nd Street.
MOTION: A motion was made by Demond Dawkins and seconded by John Yeager to
approve the August 2019 Treasurer's Report for the Wylie Economic
Development Corporation. The WEDC Board voted 5 — FOR and 0 —
AGAINST in favor of the motion.
ITEM NO.3—Consider and act upon a Second Amendment to Performance Agreement between
the WEDC and Dank Real Estate, Ltd.
Staff reminded the Board that the WEDC entered into a Performance Agreement with Dank on
October 25, 2017 for a second expansion & consolidation of Houston operations consisting of
10,140 square feet and the creation of at least eight additional full-time employees. The overall
building footprint following expansion is 20,577 square feet with a total of 33 full-time employees.
On July 18, 2018. the Board extended the term to meet all performance measures by six-months
due to a family medical emergency. The First Amendment to Performance Agreement called for
a Certificate of Occupancy (CO) no later than July 31, 2019. As staff was processing the
paperwork for Incentives, they became aware that Dank did not receive their CO until August 21,
2019. On July 1, 2019. the City performed a final inspection at which time stairway railing needed
to be installed and a final inspection from the elevator company was still required. The railing was
installed prior to July 31'but the elevator was not certified until August.
Staff(in consultation with the Building Department)was comfortable that Dank was substantially
complete on July 31 St and therefore met the spirit of the Agreement. Staff presented a Second
Amendment to Performance Agreement and recommended that the Board approve waiving the
July 31, 2019 CO requirement.
MOTION: A motion was made by Todd Wintters and seconded by John Yeager to
approve a Second Amendment to Performance Agreement between the
WEDC and Dank Real Estate, Ltd. The WEDC Board voted 5 —FOR and 0
—AGAINST in favor of the motion.
ITEM NO.4—Consider and act upon a Performance Agreement between the WEDC and Cardinal
Strategies.
WEDC —Minutes
September 24, 2019
Page 3 of 5
In June of 2019, staff presented Project 2019-6a to the WEDC Board for consideration and
discussion in Executive Session. After further input from the Board at the July 17th Board Meeting,
staff took the project to City Council on July 23, 2019. In accordance with Resolution No. 2019-
17(R), the Wylie City Council authorized the WEDC to formalize negotiations with Cardinal
Strategies Holdings, LLC and enter into a Performance Agreement.
Cardinal plans to invest approximately $1.8 mm and create up to 66 full-time employees between
their construction, engineering, and environmental divisions. Staff presented a Performance
Agreement outlining a $106,800 incentive, payable over a three-year period for the creation of
approximately 66 full-time employees.
Incentive 1 provides potential funding of$32,000 and requires that company obtain a Certificate
of Occupancy (CO) no later than December 31, 2020, spend no less than $106,800 in qualified
infrastructure, maintain 30 full time employees and be current on all ad valorem taxes and other
property taxes due on the Facility by January 31 st of the year after they are assessed.
Incentives 2, 3, and 4 provide payments up to $24,633 each on the 2"d, 3rd, and 4th anniversary date
of CO respectively. The incentives consist of a base reimbursement of $6,933 requiring the
company to continuously occupy the Facility, maintain a minimum employment of 30 full-time
employees, and be current on all ad valorem taxes due on the Facility by January 31' of the year
after they are assessed. An additional reimbursement incentive provides for $500 per full time
employee, up to a maximum of$18,000, for full-time employees over the minimum threshold of
30 employees required for Incentive I and the base reimbursement incentive.
MOTION: A motion was made by Gino Mulliqi and seconded by Todd Wintters to
approve a Performance Agreement between the WEDC and Cardinal
Strategies. The WEDC Board voted 5 —FOR and 0—AGAINST in favor of
the motion.
DISCUSSION ITEMS
ITEM NO. 5 — Review issues surrounding WEDC Performance Agreement Summary, Hotel
Occupancy Tax, environmental activity summary, Brown & 78 redevelopment update, 544
Gateway redevelopment update, FM 544 waterline, drainage issues impacting WEDC property at
FM 544 and Cooper, drainage improvements impacting WEDC property at State Highway 78 &
Marble, infrastructure improvements impacting FM 544 Gateway property, and regional housing
starts.
Staff updated the Board on WEDC projects and activities. Highlights include:
Year-over-year sales tax receipts received in June for Woodbridge Crossing increased 3.75% and
Woodbridge Centre increased 25% over the same period. With July Sales Tax earnings received
in September, the WEDC and City of Wylie obligations under the Amended Performance
Agreement have been fully satisfied. Final payment will be made to InvenTrust.
WEDC —Minutes
September 24, 2019
Page 4 of 5
The Holiday Inn Express & Suites opened to the public on September 19, 2019. And the Board
received a spreadsheet detailing Hotel Occupancy Tax receipts.
Staff provided an update of property acquisitions associated with the Highway 78 &Brown Street
project with TxDOT, Collin County, KCS, and 302 N. 2"d Street properties anticipated to close in
the coming months.
Waterline improvements for the joint project between the City and WEDC will not be complete
prior to the end of the current fiscal year. To date, the WEDC has expended $27,704 out of a
$150,000 budget. A budget amendment will be required in FY 2019 — 2020 to account for the
unexpended monies being reallocated to FY 2019 -2020.
Wylie permitted thirty-seven new homes in the month of August.
ITEM NO. 6 —Discussion of issues to be placed on a future WEDC Board Meeting agenda
(no substantial consideration/discussion allowed).
No Board Member requested that an item be placed on a future agenda.
EXECUTIVE SESSION
Recessed into Closed Session at 8:05 a.m. in compliance with Section 551.001, et. seq. Texas
Government Code, to wit:
Section 551.072 (Real Estate) of the Local Government Code, Vernon's Texas Code Annotated
(Open.Meetings Act). Consider the sale or acquisition of properties located at:
• State Highway 78 & F.M. 544
• State Highway 78 & Cooper
• State Highway 78 & Ballard
• State Highway 78 & 5th
Section 551.087 (Economic Development) of the Local Government Code, Vernon's Texas Code
Annotated(Open Meetings Act). Deliberation regarding commercial or financial information that
the WEDC has received from a business prospect and to discuss the offer of incentives for:
• Project 2018-2a
• Project 2019-5b
• Project 2019-7a
Section 551.074 (Personnel Matters) of the Local. Government Code, Vernon's Texas Code
Annotated(Open Meetings Act).
• Performance Evaluation of WEDC Staff
WEDC —Minutes
September 24, 2019
Page 5 of 5
Staff members Jason Greiner and Angel Wygant left the meeting at 9:02 a.m. and returned at
9:19 a.m.
RECONVENE INTO OPEN MEETING
Take any action as a result from Executive Session
The WEDC Board of Directors reconvened into open session at 9:19 a.m. and took the following
action:
MOTION: A motion was made by Todd Wintters and seconded by John Yeager to
authorize the Executive Director to execute a Purchase and Sale Agreement
between the WEDC and WB Real Estate for the sale of a 1.4-acre property
located on Highway 78. The WEDC Board voted 5—FOR and 0—AGAINST
in favor of the motion.
ACTION ITEMS (cont.)
ITEM NO. 7—Consider and act upon the Election of Officers for the WEDC Board of Directors.
President Brokaw informed the Board that his family had purchased a new home that lies outside
the Wylie city limits. According to the WEDC By-Laws, Mr. Brokaw's relocation outside the
City limits requires that he resign his position on the Board. A letter has been sent to the Mayor
requesting that he inform the Boards & Commissions interview panel and request that Council
appoints a replacement member to the Board.
Considering this resignation, President Brokaw requested that the Board elect new officers.
MOTION: A motion was made by Gino Mulliqi and seconded by John Yeager to elect
the following WEDC Officers for the remainder of the 2019—2020 term year:
Todd Wintters—President, Demond Dawkins—Vice President, John Yeager
— Secretary, Gino Mulliqi — Treasurer. The WEDC Board voted 5 — FOR
and 0—AGAINST in favor of the motion.
ADJOURNMENT
With no further business, President Brokaw adjourned the WEDC Board meeting at 9:28 a.m.
Todd Wintters, President
ATTEST:
Samuel Satterwhite, Executive Director
ylie cono ic a evelop ent Con oration
E • - A DU
TO: Sam Satterwhite, Executive Director /
FROM: Angel Wygant, Senior Assistant
SUBJECT: September 2019 Treasurer's Report
DATE: October 7, 2019
Issue
Consider and act upon approval of the September 2019 WEDC Treasurer's Report.
Analysis
Sales Tax Receipts for October were $224,875 representing an increase of 6.73% over 2018
receipts. With just one month remaining in the Fiscal Year, Sales Tax receipts are 14% higher
than 2018.
From the Balance Sheet,page 1:
Deposits - $2,000. This amount reflects a$2,000 deposit paid for the current WEDC office.
Accounts Rec — Forgivable Loans - $140,000. This figure represents the loan made to Exco
Extrusion Dies in the amount of$350,000. The first 3 loan payments were forgiven on February
24th of 2017, 2018 and 2019 respectively in accordance with the teiins of the Performance
Agreement. Assuming Exco remains in compliance, the remaining 2 loan payments will be
forgiven in equal amounts of$70,000 on an annual basis effective February 24th.
Deferred Outflows - $745,843.10. This is the total of incentive payments which are due in the
future. A breakdown of these charges includes: Exco Extrusion Dies — $20,000, DCU -
$19,488.80, DANK Real Estate - $83,000, Cross Development - $250,000, SCSD-Finnell -
$175,000, Carrie Elle - $2,500, Rocking M - $89,500, Taylor & Son - $104,500, Cardinal -
$106,800.
Balance Sheet,page 2:
Deferred Inflow - $78,000. This figure represents the Exco Extrusion Dies forgivable loan
which will be reduced by $39,000 annually over a 5-year period. The annual $39,000 amount
represents one fifth of the $195,000 gain that would have occurred if the loan forgiveness were
not in place ($350,000 - $155,000 = $195,000). The first three payments of $39,000 were
forgiven on February 2nd of 2017, 2018 and 2019 respectively, with two payments remaining.
WEDC September 2019 Treasurers Report
October 7, 2019
Page 2 of 2
Revenue and Expense Report,page 2:
Rental Income — $14,605. Wheels Unlimited - $2,870, Austin Said - $4,000, Heath - $5,300
Trimark- $1,035, Wylie Northeast - $1,000, Helical Concepts - $400.
Revenue and Expense Report,page 3:
Office Su pE lies $13.75. General Office Supplies.
Postage & Freight - $20.55. Row Abandonment Notices.
Food Supplies - $50.44. WEDC Board Meeting Meals ($23.73), ICAN ($180.00).
Incentives - $10,645.77. DCU—Incentive 2 of 3.
Special Services— $23,822.63. Environmental — Kirby ($4,095.62), Interlocal ($5,000), 102 N.
Birmingham Demo ($5,500), Mowing ($1,049), Property Management — July ($2,557.04) &
Aug- ($1,794.05), ROW Abandonment Survey ($3,500), Water— Commerce ($74.42), Quarterly
Pest Control—($95), Janitorial Svc ($157.50).
Advertising - $6,895. WDMA Audio Ads ($300), WDMA Advertising Reimbursement
($5,000), In& Around ($1,595).
Community Development - $10,020. WEDC Invitational Items ($4,520), WISD Ed. Foundation
Gala Sponsor ($1,500), KCS Holiday Express Sponsor ($1,000), Care Center Sponsor ($2,000),
Coventry Tournament Sponsor($1,000).
Travel & Training— $3,317.25. IEDC Exam Registration— Greiner ($575), Biz Now Parking —
Greiner ($5), Retail Live Travel Expenses - ($689.96), Retail Live Registration -Satterwhite &
Greiner ($650), TML Economic Development Conference Registration — Greiner & Mulliqi
($530), TEDC Sales Tax Training ($175), Business Meetings/Project Updates ($692.29).
Dues & Subscriptions - $4,241.24. Club Corp — July ($741.24), Woodbridge Annual Dues
($3,500).
Audit & Legal - $4,507.50. Attorney Fees: WBRE ($1,571), Kreymer ($536.50), Mulligan
($2,400).
Streets& Alleys - $744. 544 Waterline.
Recommendation
Staff recommends the WEDC Board of Directors approve the September 2019 Treasurer's
Report.
Attachments
September 2019 Treasurer's Report
Wylie Economic Development Corporation
Statement of Net Position
As of September 30,2019
Assets
Cash and cash equivalents $ 775,697.02
Receivables $ 140,000.00 Note 1
Inventories $ 11,696,750.14
Prepaid Items $
Total Assets $_12,612,447.16
Deferred Outflows of Resources
Pensions $ 101,121.55
Total deferred outflows of resources $ 101,121.55
Liabilities
Accounts Payable and other current liabilities $ 98,947.59
Unearned Revenue $ 79,200.00 Note 2
Non current liabilities:
Due within one year $ 34,254.39 Note 3
Due in more than one year $ 6,244,066.09 Note 4
Total Liabilities $ 6,456,468.07
Deferred Inflows of Resources
Pensions $ (30,407.41)
Total deferred inflows of resources $ (30,407.41)
Net Position
Net investment in capital assets $
Unrestricted $ 6,287,508.05
Total Net Position $ 6,287,508.05
Note 1: Includes incentives in the form of forgivable loans for$140,000
Note 2: Exco amortization;deposits from rental property
Note 3: Liabilities due within one year includes compensated absences of$14,237
Note 4: Includes$3,503,499.53 draw-down of the approved$4,500,000 loan from
American National Bank as of September 30,2019
10-07-2019 02:05 PM CITY OF WYLIE PAGE: 1
BALANCE SHEET
AS OF: SEPTEMBER 30TH, 2019
111-WYLIE ECONOMIC DEVEL CORP
ACCOUNT# TITLE
ASSETS
1000-10110 CLAIM ON CASH AND CASH EQUIV. 773,211.38
1000-10115 CASH - WEDC - INWOOD 0.00
1000-10135 ESCROW 0.00
1000-10180 DEPOSITS 2,000.00
1000-10198 OTHER - MISC CLEARING 0.00
1000-10341 TEXPOOL 0.00
1000-10343 LOGIC 0.00
1000-10481 INTEREST RECEIVABLE 0.00
1000-11511 ACCTS NEC - MISC 0.00
1000-11517 ACCTS REC - SALES TAX 0.00
1000-12810 LEASE PAYMENTS RECEIVABLE 0.00
1000-12950 LOAN PROCEEDS RECEIVABLE 0.00
1000-12996 LOAN RECEIVABLE 0.00
1000-12997 ACCTS REC - JTM TECH 0.00
1000-12998 ACCTS REC - FORGIVEABLE LOANS 140,000.00
1000-14112 INVENTORY - MATERIAL/ SUPPLY 0.00
1000-14116 INVENTORY - LAND & BUILDINGS 11,696,750.14
1000-14118 INVENTORY - BAYCO/ SANDEN BLVD 0,00
1000-14310 PREPAID EXPENSES - MISC 0.00
1000-14410 DEFERRED OUTFLOWS 756,488.87
_ -
13,368,450.39
TOTAL ASSETS 13,368,450.39
LIABILITIES
2000-20110 FEDERAL INCOME TAX PAYABLE 0.00
2000-20111 MEDICARE PAYABLE 0.00
2000-20112 CHILD SUPPORT PAYABLE 0.00
2000-20113 CREDIT UNION PAYABLE 0.00
2000-20114 IRS LEVY PAYABLE 0.00
2000-20115 NATIONWIDE DEFERRED COMP 0.00
2000-20116 HEALTH INSUR PAY-EMPLOYEE 0.84
2000-20117 TMRS PAYABLE 0.00
2000-20118 ROTH IRA PAYABLE 0.00
2000-20119 WORKERS COMP PAYABLE 0.00
2000-20120 FICA PAYABLE 0.00
2000-20121 TEC PAYABLE 0.00
2000-20122 STUDENT LOAN LEVY PAYABLE 0.00
2000-20123 ALIMONY PAYABLE 0.00
2000-20124 BANKRUPTCY PAYABLE 0.00
2000-20125 VALIC DEFERRED COMP 0.00
2000-20126 ICMA PAYABLE 0.00
2000-20127 EMP. LEGAL SERVICES PAYABLE 0.00
2000-20130 FLEXIBLE SPENDING ACCOUNT 4,024.92
2000-20131 EDWARD JONES DEFERRED COMP 0.00
2000-20132 PIMP CARE ELITE 12.00
2000-20151 ACCRUED WAGES PAYABLE 0.00
2000-20180 ADDIT EMPLOYEE INSUR PAY 48.00
2000-20199 MISC PAYROLL PAYABLE 0.00
10-0/-2019 02:05 PM CITY OF WYLIE PAGE 2
BALANCE SHEET
AS OF SEPTEMBER 30TH, 2019
ill-Nil IF ECONOMIC DEVEL CORP
ACCOUNT It TITLE
2000-20201 AP PENDING 18,325.79
2000-20210 ACCOUNTS PAYABLE 0.00
2000-20530 PROPERTY TAXES PAYABLE 0.00
2000-20540 NOTES PAYABLE 756,488.87
2000-20810 DUE TO GENERAL FUND 0.00
2000-22270 DEFERRED INFLOW 78,000.00
2000-22275 DEE INFLOW - LEASE PRINCIPAL 0.00
2000-22280 DEFERRED INFLOW - LEASE INT 0.00
2000-22915 RENTAL DEPOSITS 1,200.00
TOTAL LIABILITIES 858,100.42
EQUITY
3000-34110 FUND BALANCE - RESERVED 0.00
3000-34590 FUND BALANCE-UNRESERV/UNDESIG 9,729,021 76
TOTAL BEGINNING EQUITY 9,729,021.76
TOTAL REVENUE 5,986,418.51
TOTAL EXPENSES 3,205,090.30
REVENUE OVER/(UNDER) EXPENSES 2,781,328.21
TOTAL EQUITY & OVER/(UNDER) 12,510,349.97
TOTAL LIABILITIES, EQUITY & OVER/(UNDER) 13,368,450.39
10-07-2019 02:05 PM CITY OF WYLIE PAGE: 1
BALANCE SHEET
AS OF: SEPTEMBER 30TH, 2019
922-GEN LONG TERM DEBT (WEDC)
ACCOUNT# TITLE
ASSETS
1000-10312 GOVERNMENT NOTES 0.00
1000-18110 LOAN - WEDC 0.00
1000-18120 LOAN - BIRMINGHAM 0.00
1000-18210 AMOUNT TO BE PROVIDED 0.00
1000-18220 BIRMINGHAM LOAN 0.00
1000-19050 DEE OUTFLOW TMRS CONTRIBUTIONS 35,543.29
1000-19051 DEF OUTFLOW SDBF CONTRIBUTIONS 543.00
1000-19075 DEF OUTFLOW - INVESTMENT EXP 0.48
1000-19100 DEF OUTFLOW - ACT EXP/ASSUMP 65,034.78
1000-19125 (GAIN)/LOSS ON ASSUMPTION COG( 30,407.41)
70,714.14
TOTAL ASSETS 70,714.14
LIABILITIES
2000-20310 COMPENSATED ABSENCES PAYABLE 81,193.87
2000-20311 COMP ABSENCES PAYABLE-CURRENT 14,237.00
2000-21410 ACCRUED INTEREST PAYABLE 3,991.77
2000-28205 WEDC LOANS/CURRENT 16,025.62
2000-28220 BIRMINGHAM LOAN 0.00
2000-28230 INWOOD LOAN 0.00
2000-28232 ANB LOAN/EDGE 0.00
2000-28233 ANB LOAN/PEDDICORD WHITE 0.00
2000-28234 ANB LOAN/RANDACK HUGHES 0.00
2000-28235 ANB LOAN 0.00
2000-28236 ANB CONSTRUCTION LOAN 0.00
2000-28237 ANB LOAN/ WOODBRIDGE PARKWAY 251,320.68
2000-28238 ANB LOAN/BUCHANAN 0.00
2000-28239 ANB LOAN/JONES:HOBART PAYOFF 0.00
2000-28240 HUGHES LOAN 0.00
2000-28242 ANB LOAN/HWY 78:5TH ST REDEV 3,503,499.53
2000-28245 ANB LOAN/DALLAS WHIRLPOOL 2,000,000.00
2000-28247 JARRARD LOAN 230,437.84
2000-28250 CITY OF WYLIE LOAN 0.00
2000-28260 PRIME RUTS LOAN 0.00
2000-28270 BOWLAND/ANDERSON LOAN 0.00
2000-28280 CAPITAL ONE CAZAD LOAN 0.00
2000-28290 HOBART/COMMERCE LOAN 0,00
2000-29150 NET PENSION LIABILITY 171,108.17
2000-29151 SDBF LIABILITY 6,506.00
--
TOTAL LIABILITIES 6,278,320.48
10-07-2019 02:05 PM CITY OF WYLIE PAGE: 2
BALANCE SHEET
AS OF: SEPTEMBER 30TH, 2019
922-GEN LONG TERM DEBT (WEDC)
ACCOUNT# TITLE
EQUITY
3000-34590 FUND BALANCE-UNRESERV/UNDESIG( 3,412,605.24)
3000-35900 UNRESTRICTED NET POSITION 120,264.00)
TOTAL BEGINNING EQUITY ( 3,532,869.21)
TOTAL REVENUE ( 3,503,199.53)
TOTAL EXPENSES 828,762.43)
REVENUE OVER/(UNDER) EXPENSES ( 2,674,737.10)
TOTAL EQUITY & OVER/(UNDER) ( 6,207,606.34)
TOTAL LIABILITIES, EQUITY & OVER/(UNDER) 70,714,14
10-07-2019 02:06 PM CITY OF WYLIE PAGE: 1
REVENUE AND EXPENSE REPORT - (UNAUDITED)
AS OF: SEPTEMBER 30TH, 2019
1111-WYLIE ECONOMIC DEVEL CORP
FINANCIAL SUMMARY
CURRENT CURRENT PRIOR YEAR Y-T-D Y-T-D BUDGET % OF
BUDGET PERIOD PO ADJUST, ACTUAL ENCUMBRANCE BALANCE BUDGET
REVENUE SUMMARY
TAXES 2,600,000.00 243,048.40 0.00 2,386,937,60 0,00 213,062,40 91,81
INTERGOVERNMENTAL REV. 0,00 0.00 0.00 0.00 0.00 0.00 0,00
INTEREST INCOME 3,600,00 0,00 0.00 8,204.91 0,00 ( 4,604,91) 227.91
MISCELLANEOUS INCOME 1,675,166,00 19,205.00 0,00 87,776.47 0,00 1,587,389,53 5.24
OTHER FINANCING SOURCES 4,500,000,00 0,00 0.00 3,503,499.53 0.00 996,500,47 77,86
TOTAL REVENUES 8,778,766,00 262,253.40 0.00 5,986,418.51 0.00 2,792,347,49 68,19
EXPENDITURE SUMMARY
DEVELOPMENT CORP-WEDC 9 871 7.31,13 159 385.12 -0, 00 _3,205 090 30 5,461,29 6,661,179.63 32 52
TOTAL EXPENDITURES 9,871,731,13 159,385.12 0,00 3,205,090.30 5,461.20 6,661,179.63 32,52
REVENUE OVER/ EXPENDITURES ( 1,092,965.13) 102,868.28 0.00 2,781.,328.21 ( 5,461.20) ( 3,668,832,14) 253.98-
10-07-2019 02:06 PM CITY OF WYLIE PAGES 2
REVENUE AND EXPENSE REPORT - (UNAUDITED)
AS OF: SEPTEMBER 30T[i, 2019
111-WYLIE ECONOMIC DEVFI, CORP
REVENUES
CURRENT CURRENT PRIOR YEAR Y-T-D Y-T-D BUDGET OF
BUDGET PERIOD PO ADJUST, ACTUAL ENCUMBRANCE BALANCE BUDGET
TAXES
4000-40150 REV IN LEIU OF TAXES 0,00 0.00 0.00 0,00 0-00 0,00 0.00
4000-90210 SALES TAX 2 600 000,00 293,098.90 0.00 2,386,937.60 0.00 213,062 40 91,81
TOTAL TAXES 2,600,000.00 293,018.90 0.00 2,386,937.60 0.00 213,062.90 91.81
INTERGOVERNMENTAL REV.:
4000-43518 380 ECONOMIC AGREEMENTS 0.00 0.00 0,00 0,00 0,00 0,00 0.03
TOTAL INTERGOVERNMENTAL REV, 0.00 0.00 0.00 0.00 0.00 0.00 0,.00
INTEREST....INCOME
9000-46050 CERTIFICATE OF DEPOSIT 0,00 0.00 0„00 0.00 D,00 0,00 0.00
9000-46110 ALLOCATED INTEREST EARNINGS 3,600.00 0,00 0.00 8,204,91 0,00 ;-( 4,609.91) 227.91
4000-96140 TEXPOOL INTEREST 0.00 0.00 0,00 0.00 0,00 0,00 0.00
9000-46193 LOGIC INTEREST 0,00 0,00 0.00 0.00 0.00 0.00 0.00
9000-96150 INTEREST EARNINGS 0,00 0.00 0,00 0.00 0.00 0,OD 0,00
9000-46160 LOAN REPAYMENT (PRINCIPAL) 0,00 0,00 0,.00 0.00 0.00 0,00 0.00
4000-46210 BANK MONEY MARKET INTEREST 0.00 0.00 0.00 0.00 0.00 0,00 0,00
TOTAL INTEREST INCOME 3,600.00 0.00 0-00 8,204.91 0.00 ( 4,604.9]) 227,91
MISCELLANEOUS INCOME
9000 48110 RENTAL INCOME 122,440.00 14,605.00 0,00 115,835.53 0..00 6,604.47 99.61
4000-48310 RECOVERY - PRIOR YEAR EXPEN 0.00- 0.00 0.00 0,00 0.00 0.00 0.00
4000-98910 MISCELLANEOUS INCOME 0.00 4,600.00 0,00 9,600.00 0.00 ( 4,600.00) 0,00
4000-48430 GAIN/(LOSS) SALE OF CAP ASS 1,552,726.00 0,00 0.00 (' 32,659,06) 0,00 1,585,385.06 2.II
TOTAL MISCELLANEOUS INCOME 1,675,166.00 19,205.00 0.00 8/ 7 1 7 03 .., ,389 5_
76.97 O.OD 1,58 ,389,53 5.2.4
OTHER...FINANCING SOURCES
4000-99160 TRANSFER FROM GENERAL FUND 0,00- 0.00 0.00 0.00 0.00 0.00 0_00
4000-99325 BANK NOTE PROCEEDS 4,500,000,00 0.00 0,00 3,503,499.53 0;00 996,500,47 77.86
4000-99550 LEASE PRINCIPAL PAYMENTS (0 0,00 0.00 0,00 0.00 0,.00 0.00 0,00
4000-99600 INSURANCE RECOVERIES 0,00 0;00 0.00 0.00 0.0D 0.00 0.00
-
TOTAL OTHER FINANCING SOURCES 9,500,000,00 0.00 0,00 3,503,999.53 0.00 996,500.47 77,86
TOTAL REVENUES 8,778,766.00 262,253,90 0.00 5,986,418,51 0,00 2,792,347.49 69.19
10-07-2019 02:06 PM CITY OF WYLIE PAGE: 3
REVENUE AND EXPENSE REPORT - (UNAUDITED)
AS OF: SEPTEMBER 30TH, 2019
Ill-WYLIE ECONOMIC DEVEL CORP
DEVELOPMENT CORP-WEDC
DEPARTMENTAL EXPENDITURES
CURRENT CURRENT PRIOR YEAR Y-T-D Y-T-D BUDGET % OF
BUDGET PERIOD PO ADJUST. ACTUAL ENCUMBRANCE BALANCE BUDGET
FERSONNEL SERVICES
5611-51110 SALARIES 290,180.00 32,964.24 0.00 300,011.51 0.00 ( 9,831,51) 103,39
5611-51130 OVERTIME 0.00 0.00 0.00 0.00 0.00 0.00 0.00
5611-51140 LONGEVITY PAY 1,452.63 0.00 0.00 1,444.00 0.00 8,63 99.41
5611-51145 SICK LEAVE BUYBACK 0.00 0.00 0-(10 0,00 0.00 0,00 0.00
5611-51160 CERTIFICATION INCENTIVE 0.00 0.00 0,00 0.00 0.00 0.00 0.00
5611-51170 PARAMEDIC INCENTIVE 0.00 0.00 0.60 o.00 o.00 o.00 0.00
5611-51210 CAR ALLOWANCE 12,600.00 969.26 0.00 12,358.06 0.00 241.94 98.08
5611-51220 PHONE ALLOWANCE 4,656.00 0.00 0,09 4,656.00 0.00 0.00 100.00
5611-51230 CLOTHING ALLOWANCE 0.00 0.00 °:" 0,00 9.00 0.00 0.00
5611-51260 MOVING ALLOWANCE 0,00 0.00 0.00 0.00 0.00 0.00 0.00
5611-51310 TMRS 45,879.00 5,178.01 0,09 47,558.47 0.00 ( 1,679.47) 103.66
5611-51410 HOSPITAL & LIFE INSURANCE 41,277.00 3,327.23 0,09 39,914.75 0.00 1,362.25 96.79
5611-51415 EXECUTIVE HEALTH PLAN 0.00 0.00 0.09 0.00 0.00 0,00 0,00
5611-51420 LONG-TERM DISABILITY 1,655.00 0.00 0..00 1,030.56 0.00 624.44 62.27
5611-51990 FICA 18,863.00 1,801.87 060 16,153.48 0.00 2,709,52 85,64
5611-51450 MEDICARE 4,412.00 478.41 0,09 4,353.22 0.00 58,78 98.67
5611-51470 WORKERS COMP PREMIUM 396.00 0.00 0,00 302.39 0,00 93,61 76,36
5611-51480 UNEMPLOYMENT COMP (TWC) 810 00
. 0.00 0.00. 27.00 0.00 783.00 3.33
TOTAL PERSONNEL SERVICES 422,180.63 49,719,02 0.00 427,809.41 0.00 ( 5,628,81) 101,33
SUPPLIES
5611-52010 OFFICE SUPPLIES 5,300.00 13.75 0.00 3,104.80 0.00 2,195.20 58.58
5611-52040 POSTAGE & FREIGHT 890.00 20.55 0.00 122.05 0.00 767.95 13,71
5611-52130 TOOLS/ EQUIP (NON-CAPITAL) 1,099.00 0.00 0.00 1,098.41 0.00 0.59 99,95
5611-52810 FOOD SUPPLIES 2,150.00 50.44 0.00 1,683.75 0.00 466,25 78,31
5611-52990 OTHER °:°° 0.00 0.00 0.00 0.00 00 0.00 0.00
TOTAL SUPPLIES 9,439.00 84.74 0.00 6,009.01 0.00 3,429.99 63.66
MATERIALS FOR MAINTENANC
5611-54630 TOOLS & EQUIPMENT 0.00 0.00 0.00 0.00 0.00 0.00 0.00
5611-54810 COMPUTER HARD/SOFTWARE 2,601.00 0.00 0,00 2,568.81 0.00 32.19 98,76
5611-54990 OTHER 5,000.00 4,862,02 0.00 4,862.02 0.00 137.98 97.24
TOTAL MATERIALS FOR MAINTENANC 7,601.00 1,862.02 0.00 7,130.83 0.0D 170.17 97.76
CONTRACTUAL SERVICES
5611-56030 INCENTIVES 1,122,100.50 10,645.77 0.00 421,790.46 5,461.20 694,848.84 38.08
5611-56040 SPECIAL SERVICES 633,900.00 23,822,63 0.00 595,984.03 0.09 37,915,97 94,02
5611-56080 ADVERTISING 127,000.00 6,895.00 0.00 60,082.50 0.00 66,917.50 47.31
5611-56090 COMMUNITY DEVELOPMENT 68,100.00 10,020.00 0.00 50,938,20 0.00 17,161.80 74.80
5611-56110 COMMUNICATIONS 9,628.00 521.88 0,00 8,891.20 0.00 736.80 92,35
5611-56180 RENTAL 29,328.00 194.00 0.00 29,134.00 0.09 194.00 99.34
5611-56210 TRAVEL & TRAINING 55,425.00 3,317.25 0,00 36,565.70 0.00 18,859.30 65.97
5611-56250 DUES & SUBSCRIPTIONS 30,610.00 741.24 0.00 25,237.42 0,00 5,372.58 82.45
5611-56310 INSURANCE 4,310.00 0.00 0.00 4,004.71 0,09 305.29 92.92
5611-56510 AUDIT & LEGAL SERVICES 39,000.00 4,507,50 0.00 38,665.00 0.00 335.00 99.14
5611-56570 ENGINEERING/ARCHITECTURAL 30,000.00 0.00 0,00 15,917.23 0.00 14,082.77 53.06
5611-56610 UTILITIES-ELECTRIC 2,400.00 0.00 0.00 3,116.31 0.00 ( 716.31) 129.85
.......___
TOTAL CONTRACTUAL SERVICES 2,151,801.50 60,665.27 0.00 1,290,326.76 5,461.20 856,013.54 60.22
10-07-2019 02:06 PM CITY OF WYLIE PAGE: 4
REVENUE AND EXPENSE REPORT - (UNAUDITED)
AS OF: SEPTEMBER 30TH, 2019
111-WYLIE ECONOMIC DEVEL CORP
DEVELOPMENT CORP-WEDC
DEPARTMENTAL EXPENDITURES
CURRENT CURRENT PRIOR YEAR Y-T-D Y-T-D BUDGET % OF
BUDGET PERIOD PO ADJUST, ACTUAL ENCUMBRANCE BALANCE BUDGET
DEBT SERVICE & CAP. REPI
5611-57110 DEBT SERVICE 0.00 0.00 °'" 0.00 0,00 0.00 0.00
5611-57410 PRINCIPAL PAYMENT 1,628,051.00 24,084.98 0.00 847,611,17 0.00 780,439.83 52.06
5611-57415 INTEREST EXPENSE 343,898.00 24,225.09 0.00 229,345.02 0.00 114,552.98 66.69
5611-57710 BAD DEBT EXPENSE 0'20 0,00 • 3.!_90 Ma .9-00 , CLa° °!.°Q
TOTAL DEBT SERVICE & CAP. REPL 1,971,949.00 48,310.07 0.00 1,076,956.19 0.00 894,992.81 54.61
CAPITAL OUTLAY
5611-58110 LAND-PURCHASE PRICE 4,800,000.00 0.00 0.00 3,959,210.14 0.00 840,789.86 82.48
5611-58120 DEVELOPMENT FEES 0.00 0.00 0.00 0.00 0.00 0.00 0.00
5611-58150 LAND-BETTERMENTS 0.00 0.00 0,00 0.00 0.00 0,00 0.00
5611-58210 STREETS & ALLEYS 507,760.00 744.00 0,00 324,364.09 0.00 133,395.91 63.88
5611-58410 SANITARY SEWER 0.00 0.00 0=00 0.00 0.00 0.00 0,00
5611-58810 COMPUTER HARD/SOFTWARE 0.00 0.00 0,00 105.98 0.00 ( 105,98) 0.00
5611-58830 FURNITURE I FIXTURES 1,000.00 0.00 0.00 0.00 0.00 1,000=00 0,00
5611-58910 BUILDINGS 0.00 0.00 0.00 0.00 0.00 0.00 0.00
5611-58995 CONTRA CAPITAL OUTLAY 0.00 0.00 0.00 ( 3,887,122.14) 0.00 3,887,122.14 0.00
.
TOTAL CAPITAL OUTLAY 5,308,760.00 744.00 0.00 396,558.07 0.00 4,912,201,93 7.47
OTHER FINANCING (USES)
5611-59111 TRANSFER TO GENERAL FUND 0.00 0.00 0.00 0.00 0.00 0.00 0.00
5611-59190 TRANSFER TO THORUGHFARE IMP 0.00 0.00 0.00 0,00 0.00 0.00 0,00
5611-59430 TRANSFER TO CAPITAL PROJ EU 0.00 0.00 0.00 0.00 0.00 0.00 0.00
5611-59990 PROJECT ACCOUNTING 0.00 0=00 0.00 Oil 0. . 0.00 0.00 0.00
TOTAL OTHER FINANCING (USES) 0,00 0.00 0.00 0.00 0.00 0.00 0.00
____ _ . --- --------- -------------------------------------- ------ --- -, ...,„„„...,_.__
TOTAL DEVELOPMENT CORP-WEDC 9,871,731,13 159,385.12 0.00 3,205,090.30 5,461.20 6,661,179.63 32,52
TOTAL EXPENDITURES 9,871,731.13 159,385,12 0.00 3,205,090.30 5,461.20 6,661,179.63 32.52
REVENUE OVER (UNDER) EXPENDITURES ( 1,092,965,13) 102,868.28 0.00 2,781,328.21 ( 5,461.20) ( 3,868,832,14) 253,98-
..* END OF REPORT ',,,*
10-07-2019 2:07 PM DETAIL LISTING PAGE: 1.
FUND 111-WYLIE ECONOMIC DEVEL CORP PERIOD TO USE: Sep-2019 THRU Sep-2019
DEPT 611 DEVELOPMENT CORP-WEDC ACCOUNTS: 5611-52010 THRU 5611-58910
POST DATE TRAM # REFERENCE PACKET- --DESCRIPTION== ==== VEND INV/JE $# NOTE --AMOUNT-- ====BALANCE====
-------------------------
5611-5207.0 OFFICE SUPPLIES.
BEGINNING BALANCE 3,091.05
9/25/19 9/25 A53399 CHM: 106088 13250 OF SUPP- CLPS, TAPE, ENV 000392 27605 WEDC 13.75 3,104.80
88-888-8282-8 SEPTEMBER ACTIVITY DB: 13.75 CR: 0.00 13.75
5611-52040 POSTAGE & FREIGHT
RNINNINS. BALANCE 101.50
9/30/19 9/30 A53762 DFT: 000921 13329 ROW ABAND NOTICE 000912 8277 SEPT19 WYGANT 13.70 115.20
9/30/19 9/30 A53762 DFT: 000921 13329 ROW ABANDON NOTICE 000912 8277 SEPT19 WYGANT 6.85 122.05
6:8624 -...--`,a. SEPTEMBER ACTIVITY DB: 20.55 CR: 0.00 20.55
5611-52130 TOOLS/ EQUIP (NON-CAPITAL)
BEGINNING BALANCE 1,098.41
5611-52160 TOOLS/ EQUIP - 8100-6999.99
BEGINNING BALANCE 0.00
Kw
5611-52010 FOOD SUPPLIES
BEGINNING B A L AN C E 1,633..31
9/30/19 9/30 A53762 DFT: 000921 1332.9 WEDC FRO MTG MEAL 000912 8277 SEPT19 WYGANT 38.91 1,652.22
9/30/19 9/30 A53762 DFT: 000921 13329 SEDCRFD MTG MEAL. 000912 8277 SEPT19 WYGANT 31.53 1,683,75
SEPTEMBER ACTIVITY DB: 50.44 CR: 0.00 50.44
8,8
5613-52990 OTHER
BEGINNING BALANCE 0.00
5611-54630 TOOLS & EQUIPMENT
BEGINNING BALANCE 0.00
5611-54810 COMPUTER HARD/SOFTWARE-
BEGINNING BALANCE 2,568.81
10-07-2019 2:07 PM DETAIL LISTING PAGE: 2
FUND : 111-WYLIE ECONOMIC REVEL CORP PERIOD TO USE: Sep-2019 THRU Sep-2019
DEPT : 611 DEVELOPMENT CORP-WEDC ACCOUNTS: 5611-52010 THRU 5611-58910
POST DATE °IRAN # REFERENCE PACKET======DESCRIPTION------- VEND IINV/JE # NOTE AMOUNT-- =BALANCE--
5611-54990 OTHER
BEGINNING BALANCE 0.00
9/30/19 10/03 A54427 0HK: 106364 13454 LIBR-RENEWAL-SE15/19-SE2 004151 15691907 LIB 9/19- 4,362.02 4,862.02
.88 .,m8 SEPTEMBER ACTIVITY DB: 4,862.02 CR: 0.00 4,862,02
5611-56030 INCENTIVES
BEGINNING BALANCE 411,144.69
9/04/19 9/04 A52148 CHK: 105741 12789 DCU INCENTIVE 2 OF 3 005121 083019 20F3 10,645,77 421,790,46
SEPTEMBER ACTIVITY DB: 10,645.77 CR: 0.00 10,645,77
5611-56040 SPECIAL SERVICES
BEGINNING BALANCE 572,161,40
9/16/19 9/16 A52830 CHK: 105894 13060 WEDC CITY INTERELOCAL 000101 872019-1 EY18-19 5,000.00 577,161.40
9/16/19 9/16 A52833 CHK: 105901 13080 102 N. BIRMINGHAM-DEMO 001026 19440 WEDC 5,500,00 582,661,40
9/19/19 9/19 A53050 CHK: 105974 13146 OFFICE JANITORIAL - SEPT 002330 50130WEDC 157.50 582,818.90
9/24/19 9/24 A53314 CHK: 106054 13217 MOWING AUG19 WEDC 002723 2171 AUG19 WEDC 467.00 583,305,90
9/24/19 9/24 A53317 CHIC: 106052 13217 PROP MGMT - AUG WEDC 005262 239 JUL27-AUG26 1,794.05 585,099.95
9/24/19 9/24 A53318 CHK: 106052 13217 PROP MGMT - JULY WEDC 005262 239 JUN27-JUL26 2,557.04 587,656,99
9/25/19 9/25 A53411 CHK: 106086 13250 KIRBY ENVIRONMENTAL 005252 B180278 3,376.87 591,033,86
9/26/19 9/26 A53565 CHK: 106126 13280 MOWING WEDC PROPERTIES 002723 2185 SEP19 562.00 591,595,86
9/26/19 9/26 A53568 CUR: 106132 13280 BROWN ROW ABANDON SURVEY 004336 AC852270 WEDC 3,500.00 595,095.86
9/30/19 10/01 A53888 CBE: 106176 13371 WATER-605 COMMERCE 000101 126054100 WEDC S19 74.42 595,170,28
9/30/19 10/01 A53936 CUR: 106191 13399 QRTLY PST CONTROL 000792 112228 95,00 595,265,26
9/30/19 10/03 A54412 CHK: 106370 13454 KIRBY VCP - TCEQ JUN 001320 VCP0045474 716.75 595,984.03
SEPTEMBER ACTIVITY DB: 23,622,63 CR: 0,00 23,622,63
-------------_------------------------------------------_------------------_--_----__-_--_---_-_---__-------_----------
5611-56080 ADVERTISING
BEGINNING BALANCE 53,187,50
9/23/19 9/23 A53239 CHK: 106024 13203 AUDIO AD Q2 AP,MY JN 001078 528 150.00 53,337,50
9/23/19 9/23 A53249 CHK: 106034 13205 IN & ARND - SEPT 19 000391 19997 WEDC 1,595.00 54,932,50
9/25/19 9/25 A53400 CHK: 106087 13250 WDMA ADV, REIMB 001078 524 WEDC 5,000.00 59,932,50
9/26/19 9/26 A53508 CHK: 106119 13276 WDMA AUDIO AD I QTR 2019 001078 517 WEDC 150.00 60,0.82,50
SEPTEMBER ACTIVITY DB: 6,895.00 CAR 0.00 6,895.00
5611-56090 COMMUNITY DEVELOPMENT
10-07-2019 2:07 PM DETAIL LISTING PAGE: 3
FUND : 111-WYLIE ECONOMIC DEVEL CORP PERIOD TO USE: Sep-2019 THRU Sep-2019
DEPT : 611 DEVELOPMENT CORP-WEDC ACCOUNTS: 5611-52010 THRU 5611-58910
POST DATE TRAN # REFERENCE PACKET DESCRIPTION-- VEND INV/JE # NOTE AMOUNT-- -====BALANCE:====
BEGINNING BALANCE 40,918,20
9/23/19 9/23 A53238 CHK: 106023 13203 WEDC INVIT'L ITEM-BALLS 000832 156 2,720.00 43,638,20
9/26/19 9/26 A53466 CHK: 106106 13263 CD FOUN BOOTS N BBQ SPON 000379 1388 WEDC 1,500,00 45,138,20
9/26/19 9/26 2153483 CHK: 106100 13263 KCS HOLIDAY EXPRESS SPON 005139 091719 1,000.00 46,138,20
9/30/19 10/01 A53932 CHIC: 106199 13399 CARE CENTER SPONSOR 000384 091819 WEDC 2,000.00 43,138.20
9/30/19 10/01 A53896 CHK: 106167 13371 WEDC INVITATION ITEMS 000832 157 1,800.00 49,938.20
9/30/19 10/01 A53938 CHK: 106193 13399 COVENTRY TOURN SPONSOR 002639 38 WEDC 1,000.00 50,938,20
SEPTEMBER ACTIVITY DB: 10,020.00 CR: 0.00 10,020.00
5611-56110 COMMUNICATIONS
BEGINNING BALANCE 8,369,32
9/20/19 9/20 A53143 CHK: 105992 13180 INTERNET SERV AU25- SE24 004568 2101577989 AU25-S 228.37 8,597.69
9/24/19 9/24 A53286 CHK: 106049 13211 TABLET SERVICE AU 19 WED 001797 600495799-07 AU19 113.97 8,711,66
9/30/19 9/30 A53777 DFT: 000922 13333 TELEPHONE SVC 000912 8277 SEPT19 SATTER 179,54 8,891,20
:':-.=---- -- SEPTEMBER ACTIVITY DB: 521,88 CR: 0.00 521.88
5611-56180 RENTAL
BEGINNING BALANCE 28,910.00
9/30/19 10/01 2153939 CHK: 106189 13399 COPIER RENTAL AUG26 003509 111518 WEDC 194,00 29,134,00
SEPTEMBER ACTIVITY DB: 194.00 CR: 0,00 194.00
5611-56210 TRAVEL 6. TRAINING
BEGINNING BALANCE 33,248.45
9/13/19 9/13 A52778 CHIC: 105889 13060 090619 TAXI SEPT5 BUS ME 000317 090619 TAXI 42.95 33,291,40
9/26/19 9/26 A53451 CNN: 106093 13254 BUSINESS MEETINGS 000317 091719 547.37 33,838.77
9/30/19 9/30 A53777 DFT: 000922 13333 BUS. MEG- PATEL 000912 8277 SEPT19 SATTER 37.64 33,876,11
9/30/19 9/30 A53727 DFT: 000924 13323 IEDC EXAM REG-GREINE 000912 8277 SEPT19 GREINE 575,00 34,451,41
9/30/19 9/30 A53727 DFT: 000924 13323 BIZ NOW-PRKG-GREINER 000912 8277 SEPT19 GREINE 5.00 31,456.41
9/30/19 9/30 A53727 OCT: 000924 13323 RET LIVE-UBER-GREINE 000912 8277 SEPT19 GREINE 6.35 34,462,76
9/30/19 9/30 A53727 DFT: 000924 13323 RET LIVE-HOTEL-GREIN 000912 8277 SEPT19 GREINE 306,21 34,768,97
9/30/19 9/30 A53727 DFT: 000924 13323 BUS MTG.-MFG DAY 000912 8277 SEPT19 GREINE 22.90 34,791,87
9/30/19 9/30 A53777 DFT: 000922 13333 PROJ. UPDATE-DAWKINS 000912 8277 SEPT19 SATTER 18.03 34,809,95
9/30/19 9/30 A53777 OCT: 000922 13333 BUS MTG-RP REAL ESTA 000912 8277 SEPT19 SATTER 23.35 34,833.30
9/30/19 9/30 A53777 OFT: 000922 13333 RETAIL LIVE-LUNCH-2 000912 8277 SEPT19 SATTER 36.28 34,869.58
9/30/19 9/30 A53777 DET: 000922 13333 RETAIL LIVE-HOTEL-SS 000912 8277 SEPT19 SATTER 341,12 35,210.70
9/30/19 9/30 A53762 DFT: 000921 13329 RET LIVE-REG-GREINER 000912 8277 SEPT19 WYGANT 325.30 35,535,70
9/30/19 9/30 A53762 DFT: 000921 13329 RET LIVE-REG-SATTER 000912 8277 SEPT19 WYGANT 325,00 35,860,70
9/30/19 9/30 A53762 DET: 000921 13329 TML REC-MULLIQI 000912 8277 SEPT19 WYGANT 265.00 36,125,70
9/30/19 9/30 2193162 OFT: 000921 13329 TML REG - GREINER 000912 8277 SEPT19 WYGANT 265,00 36,390,70
10-07-2019 2:07 PM DETAIL LISTING PAGE: 4
FUND 111-WYLIE ECONOMIC DEVEL CARP PERIOD TO USE: Sep-2019 THRU Sep-2019
DEPT : 611 DEVELOPMENT CORD-WEDC ACCOUNTS: 5611-52010 THRU 5611-58910
POST DATE TRAM # REFERENCE PACKET DESCRIPTION---- ---- VEND INV/SE # NOTE ----- .AUNT==-- ====BALANCE====
9/30/19 9/30 A53762 DFT: 000921 13329 TEDC SLS TX - MULLIQ 000912 8277 SEPP19 WYGANT 175.00 36,565.70
SEPTEMBER ACTIVITY DB 3,317.25 CR: 0.00 3,317.25
5611-56220 PROFESSIONAL TRAINING
BEGINNING BALANCE 0.00
5611-56250 DUES & SUBSCRIPTIONS
BEGINNING BALANCE 24,.496.18
9/26/19 9/26 A53451 CHK: 106093 13254 DUES & FEES-CLUB 000317 091719 741.24 25,237.42
=3om=-335 ,3 ,” SEPTEMBER ACTIVITY DB: 741.24 CR: 0.00 741.24
561.1-5631.0 INSURANCE
BEGINNING BALANCE 4,004.71
561.1.-56510 AUDIT & LEGAL SERVICES
BEGINNING BALANCE 34,157.50
9/23/19 9/23 A53233 CHK: 106021 13203 ATTY FEES-WE RE 000023 1 2793-0092M 1,571.00 35,728.50
9/23/19 9/23 A53234 CHK: 106021 13203 ATTY FEES-KREYMER 000023 1 2793-0093M 536.50 36,265.00
9/23/19 9/23 A53235 CHK: 106021 13203 ATTY FEES-MULLIGAN 000023 1 940272-0256M 2,040.00 38.,305.00
9/23/19 9/23 A53236 CHK: 106021 13203 ATTY FEES-MULLIGAN 000023 3 2793-0091M 360.00 38,665.00
SEPTEMBER ACTIVITY DB: 4,507.50 CR: 0.00 4,507,50
--- 5611-56570 ENGINEERING/ARCHITECTURAL
BEGINNING BALANCE. 15,917.23
5611-56610 UTILITIES-ELECTRIC
BEGINNING BALANCE 3,116.31
5611-57110 DEBT SERVICE
B E G INNI N G B A L A NC E 0..00
5611-57910 PRINCIPAL PAYMENT
BEGINNING BALANCE 823,526.19
9/03/19 9/03 A52099 DFT: 000902 12759 ANB LOAN 8043 PAYOFF 003207 8043 PAYOFF WEDC 9,173.76 832,699,95
9/13/19 9/13 B66770 Bak Dft 091319 19118 JE31692 WB PKWY PMT #61 JE# 031692 12,674.60 845,374.55
10-0 7-2019 2:07 PM DETAIL LISTTNG PAGE: 5
FUND : 111-WYLIE ECONOMIC DEVEL CORP PERIOD TO USE: Sep-2019 THRU Sep-2019
DEPT 611 DEVELOPMENT CORD-WEDC ACCOUNTS: 5611-52010 THRU 5611-58910
POST DATE TRAM # REFERENCE PACKET----DESCRIPTION VEND INV/JE # NOTE ----AMOUNT-- -----BALANCE==.
9/20/19 9/20 B66848 Birk Dft 092019 19152 JE31735 JARRARD PROP #33 JE# 031735 2,236,62 847,611,17
SEPTEMBER ACTIVITY DB: 24,084.98 CR: 0.00 24,084.98
5611-57415 INTEREST EXPENSE
BEGINNING BALANCE 205,119,93.
9/03/19 9/03 A52099 OFT: 000902 12759 ANB LOAN 8043 PAYOFF 003207 8043 PAYOFF WEDC 31.60 205,151,53
9/12/19 9/12 A52671 CHK: 105865 12997 ANB DRAW LN 3982 PMT 9 003207 3982 SEPT19 #9 15,838.74 220,990,27
9/12/19 9/12 A52679 VOID: 105865 13006 REVERSE VOIDED CHECK 003207 3982 SEPT19 #9 15,838,74CR 205,151,53
9/1.2/19 9/12 A52705 OFT: 000904 13011 ANB DRAW IN 3982 PMT 9 W 003207 3982 SEP19 #k9 15,838.74 220,990,27
9/13/19 9/13 B66770 Bnk Dft 091319 19118 42E31692 WB PKWY PMT #h61 JE# 031692 593.33 221,583.60
9/20/19 9/20 B66847 Bnk Dft 092019 19152 JE31734 DALLAS WHIRLPL PMT#34 JE# 031734 6,888,89 228,472,49
9/20/19 9/20 B66848 Bnk Oft 092019 19152 JE31735 JARRARD PROP #33 JE# 031735 872.53 229,345,02
.44444444,4484.4 SEPTEMBER ACTIVITY DB: 40,063.83 CR: 15,838.74CR 24,225,09
5 611-5 7 7 10 BAD DEBT EXPENSE
BEGINNING BALANCE 0.00
5611-58110 LAND-PURCHASE PRICE.
BEGINNING BALANCE 3,959,210.14.
5611-58120 DEVELOPMENT FEES
BEGINNING BALANCE 0,0.0
5611-58150.... LAND-BETTERMENTS
BEGINNING BALANCE 0.00
------------------------------------------------------------------------------------------------------------------------------------
561.1-58210 STREETS & ALLEYS
BEGINNING BALANCE 323,620.09
9/23/19 9/23 A53237 CHK: 106022 13203 FM F44 WATERLINE 000325 15558 2018161 744.00 324,364,09
m=----^ 4=".-=---4„ SEPTEMBER ACTIVITY DB: 744,00 CR: 0,00 744.00
5611-58410 SANITARY SEWER
BEGINNING BALANCE 0.00
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Wylie Economic Development Corporation
Balance Sheet Sub Ledger
September 30, 2019
Notes Payable
Date of Add'I draws Rate of Principal
Purchase Payment Beginning Bal. to date Principal Interest Interest Balance
September 1, 2019 6,007,222.42
ANBTX-88130976 WOODBRIDGE PKWY (#61 of 80) 8/15/14 13,267.93 263,982.47 12,674.60 593.33 2.61 251,307.87
ANBTX-88158043 K&M/HOBART(#48 of 48) 9/2/15 8,745.25 9,173.76 9,173.76 31.60 4.00 0.00
ANBTX-88158357 DALLAS WHIRLPOOL(#34 of 60) 11/22/16 varies 2,000,000.00 0.00 6,888.89 4.00 2,000,000.00
JARRARD GRAYS AUTO(#33 OF 120) 12/1/16 3,109.15 232,674.46 2,236.62 872.53 4.50 230,437.84
ANBTX-88193982 ANB-BROWN&78(#9 OF 72)' 12/12/18 varies 3,503,499.53 0.00 15,838.74 5.25 3,503,499.53
September 30, 2019 $24,084.98 $24,225.09 $5,985,245.24
Wylie Economic Development Corporation
Inventory Subledger
September 30, 2019
Inventory -Land
Date of Pur. Address Acreage Improvements Cost Basis Sub-totals
Cooper McMasters 7/12/05 709 Cooper 0.48 0 n/a $202,045
Heath 12/28/05 706 Cooper 0.46 $32,005 3,625 186,934
Perry 9/13/06 707 Cooper 0.49 0 Demo 200,224
Bowland/Anderson 10/9/07 Cooper Dr. 0.37 0 n/a 106,419
KCS 8/1/08 Cooper Dr. 0.41 0 n/a 60,208
Duel Products 9/7/12 704 Cooper Dr. 0.50 0 n/a 127,452
Randack 10/23/12 711-713 Cooper Dr. 1.09 217,500 8,880 400,334
Lot 2R3 7/24/14 Cooper Dr. 0.95 0 n/a 29,056 $1,312,672
Industrial Ct. Ind Ct-Hwy 78 7/06-4/16 Ind Ct-Hwy 78 1.45 0 n/a 924,486
Jarrard 12/22/16 201 Industrial Ct 0.29 32,893 3,900 300,493 1,224,979
Regency Regency Pk. 6/4/10 25 Steel Road 0.65 0 n/a 25,171 25,171
Commerce Hobart Investments 11/12/13 Commerce 1.60 0 n/a 156,820
Hobart 1/6/14 605 Commerce 1.07 396,263 20,000 386,380
Dallas Whirlpools 11/22/16 900-908 Kirby 4.79 128,925 9,000 2,182,080 2,725,280
Downtown Heath 3/17/14 104 N. Jackson 0.17 0 Demo 220,034
Udoh 2/12/14 109 Marble 0.17 0 n/a 70,330
Peddicord 12/12/14 100 W. Oak St 0.35 155,984 4,444 486,032
City Lot 12/12/14 108/110 Jackson 0.35 0 n/a
Jones (K&M) 9/3/15 106 N. Birmingham 0.21 42,314 4,125 190,596
FBC Lot 6/15/16 111 N. Ballard St 0.20 0 n/a 150,964
FFA Village 1/7/18 102. N. Birmingham 0.17 35,390 910 99,804 1,217,760
Alanis White Property(Alanis) 12/12/14 Alanis 6.63 0 n/a 420,336 420,336
South Ballard Birmingham Trust 6/3/15 505-607 S. Ballard 1.12 0 n/a 409,390
Murphy 3/7/19 701 S. Ballard 0.20 115,724 1,312 172,487
Braley 7/22/19 503 S. Ballard 0.26 50,762 840 177,398 759,275
Squire Gallagher 3/14/18 Squire-lot 2-4 2.67 100,404 6,000 573,844 573,844
Brown &78 Turner 12/5/18 504 E. Brown 1.02 84,077 1,180 308,180
Wallace 12/18/18 502 E. Brown 0.19 24,637 680 204,775
Karan 12/28/18 300 E. Brown 2.39 0 0 1,250,391
O'Donald 1/7/19 410 E. Brown 0.19 64,421 940 177,044
Weatherford 2/12/19 303 Marble 2.17 0 0 757,488
Brothers JV 2/26/19 306 &308 N. 2nd Stri 0.38 0 n/a 145,923
Pulliam 2/27/19 300 N. 2nd Street 0.26 122,764 1,364 218,472
Swayze 4/18/19 208 N. 2nd Street 0.26 73,313 1,860 187,501
Swayze 5/9/19 204 N. 2nd Street 0.26 121,781 2,033 187,658 3,437,433
Total 34.19 $1,799,157 71,093 $11,696,750 $11,696,750
*A Journal entry was made by auditors to adjust the cost of the Hughes land by$4,638.79. This amount was for taxes owed and not part of land value.
WEDC Leasehold Suble er
Tenant Oct-18 Nov-18 Dec-18 Jan-19 Feb-19 Mar-19 Apr-19 19-May Jun-19 Jul-19 20-Aug Sep-19 Oct-19
Helical Concepts 1st 9/26/18 10/29/18 11/26/18 12/31/18, 1/24/19 3/1/19 3/25/19 4/24/19 5/28/19 6/25/19 7/24/19 8/26/19 9/27/19
Wheels Unlimited 15th 10/17/18 11/5/18 12/15/18 1/15/19 2/18/19 3/18/19 4/12/19 5/15/19 6/17/19 7/19/19 8/26/19 9/16/19
Trimark Catastrophe 15th 10/8/18 11/8/18 12/11/18 1/2/19 2/10/19 3/4/19 3/29/19 5/7/19 6/7/19 7/3/19 8/8/19 9/6/19 10/7/19
Dennis Richmond 1st 10/16/18 11/5/18 12/6/18 12/31/18', 2/11/19 3/12/19 3/19/19 5/10/19 6/7/01 7/5/19 8/5/19 9/5/19
Austin/Said LLC 1st 10/18/18 11/14/18 12/6/18 1/9/19 2/11/19 3/12/19 4/11/19 5/9/19 6/14/19 7/10/19 8/15/19 9/5/19 10/9/19
Austin/Said LLC 1st 10/18/18 11/14/18 12/6/18 1/9/191 2/11/19 3/12/19 4/11/19 5/9/19 6/14/19 7/10/19 8/15/19 9/5/19 10/19/19
Austin/Said LLC 1st 6/1/19 7/1/19 8/1/19 9/5/19 10/19/19
Wylie Northeast 1st 10/3/18p 11/5/18 12/4/18 1/2/19 j 2/4/19 3/1/191 4/3/19 5/1/19f 6/3/19 7/3/19 8/3/19 9/5/19 10/3/19
WEDC EXECUTIVE DIRECTOR
J P MorganChase
Expense Report
August 2019
DATE PAYEE AMOUNT PURPOSE INDIVIDUAL/GROUPS PRESENT
8/7/19 The Rock 37.64 Business Mtg WEDC, Patel
8/7/19 Starbucks 18.08 Project Update Satterwhite, Dawkins
8/13/19 La Fluor 23.35 Business Mtg WEDC, RP Real Estate w
8/22/19 JW Marriott 36.28 Retail Live- Meal WEDC (2)_
8/23/19 JW Marriott 341.12 Retail Live- Hotel Satterwhite
06/02/19 Cytracom 179.54 Telephone Service n/a
TOTAL 636.01
WEDC Assistant Director
JPMorgan Chase
Expense Report
August 2019
DATE VENDOR PURPOSE AMOUNT
8/14/19 IEDC Exam Registration 575.00
8/15/19 Delta Hotel Biz Now- Parking 5.00
8/88/19 Uber Retail Live-Transporation 6.35
8/23/19 JW Marriott Retail Live- Hotel 306.21 '
8/29/19 Ballard Street Café Business Meeting Manufaturing Day 22.90
Total 915.46
WEDC Senior Assistant
JPMorgan Chase
Expense Report
August 2019
DATE VENDOR PURPOSE AMOUNT
8/12/19 USPS ROW Abandonment Notices 20.55
8/16/19 Retail Live Registration -Satterwhite, Greiner 650.00
8/20/19 Tom Thurmb WEDC Board Mtg. Meal 18.91
9/3/19 Chick Fil A WEDC Board Mtg. Meal 31.53
9/3/19 TEDC Sales Tax Training - Mulliqi 175.00
9/4/19 Texas Municipal League TML Conf. Registration -Greiner, Mulliqi 530.00
Total 1,426.99
WYLIE ECONOMIC DEVELOPMENT CORPORATION
SALES TAX REVENUE
FOR THE MONTH OF OCTOBER 2019
MONTH WEDC WEDC WEDC WEDC DIFF % DIFF
2016 2017 2018 2019 18 VS 19 18 VS 19
DECEMBER $166,418 $197,808 $184,849 $214,867 $30,019 15.18%
JANUARY 163,463 196,347 191,896 223,750 31,854 16.60%
FEBRUARY 260,166 276,698 275,668 307,367 31,699 11.50%
MARCH 167,082 191,648 182,852 208,222 25,370 13.87%
APRIL 154,920 168,844 163,485 182,500 19,015 11.63%
MAY 238,646 244,816 203,707 274,299 70,592 34.65%
JUNE 180,194 191,732 199,412 234,174 34,762 17.43%
J U LY 212,620 223,571 213,977 215,108 1,131 0.53%
AUGUST 268,976 261,573 249,590 283,603 34,013 13.63%
SEPTEMBER 197,339 210,974 213,426 243,048 29,623 13.88%
OCTOBER 201,506 195,549 210,702 224,875 14,174 6.73%
NOVEMBER 270,426 267,816 273,197
Sub-Total $2,481,757 $2,627,376 $2,562,759 $2,611,813 $322,250 14.07%
AUDIT ADJ
TOTAL $2,481,757 $2,627,376 $2,562,759 $2,611,813 $322,250 14.07%
WEDC SALES TAX ANALYSIS
$350,000
$300,000 a'
l
$250,000
$200,000 .,- 1
1
AI$150,000 .. __ •
,. ,.
$100,000 II
$50,000 - 1 1 -
$0
ti 2 2 (C Q 2 ' CL O t
N N a 2 Q d U N
0 co Z
ylie cono is I evelop ent Cor s oration
E O ` ANDU
TO: WEDC Board of Directors
FROM: Sam Satterwhite, Executive Direct
SUBJECT: Cross Development, LLC
DATE: October 8, 2019
Issue
Consider and act upon voiding a First Amendment to Performance Agreement between the
WEDC and Cross Development, LLC.
Analysis
On June 6, 2019, the WEDC Board of Directors approved a First Amendment to Performance
Agreement which extended the deadline by which Cross had to complete all Performance
Measures from August 31, 2020 to December 31, 2020. The 120-day extension was granted
based upon the excessive rains which occurred in the 4th quarter of 2018. Being that the
performance measures within the WEDC Performance Agreement are identical to those in the
City of Wylie Chapter 380 Agreement, the Board chose to make its approval contingent on
Council approval of the 380 Agreement.
On September 24, 2019 the Wylie City Council considered a 120-day extension for the Chapter
380 Agreement with Cross. With Council uncomfortable with such a lengthy extension, a 60-
day extension was granted to Cross.
So as to create a clear paper trail, staff is requesting that the First Amendment to Performance
Agreement between the WEDC and Cross Development, LLC be voided.
Recommendation
Staff recommends the WEDC Board of Directors void a June 6, 2019 First Amendment to
Performance Agreement between the WEDC and Cross Development, LLC.
Attachment
First Amendment
FIRST AMENDMENT TO PERFORMANCE AGREEMENT
Tins FIRST AMENDMENT To 1) At FORMANCE AGREEMENT(this "First Amendment"), is
entered into and is effective as or the day of A 2019 by and between WYLIE
ECONOMIC DEVELOPMENT CORPORATION, a Texas economic development corporation
("WEDC"),and CROSS DEVELOPMENT, LLC, a Texas limited liability company(the "Company").
WITNESSETH:
WHEREAS, WEDC Board of Directors approved that certain Performance Agreement between
WEDC and Company on March 11, 2018 to facilitate the redevelopment of an approximate 15-acre tract
(the"Project"); and
WHEREAS, WEDC and Company desire to modify and amend the Agreement in certain respects,
as more particularly set forth in this First Amendment.
NOW, THEREFORE, in an effort to address unforeseen circumstances surrounding the
development of qualified infrastructure, the WEDC and Company covenant and agree as follows:
1. Defined Terms. Capitalized terms used but not defined in this First Amendment will have
the meanings given to them in the Agreement.
2. Mot:lir'cation to Performance Obligations. Notwithstanding anything to the contrary in the
Agreement, the Completion Date as defined in the Agreement is hereby modified to be 5:00 p.m.,Central
Time, on December 31,2020(the amended"Completion Date").
3. Default. The WEDC's obligation to pay any portion of the Reimbursement Incentive to
Company WILL TE' INATE if Company defaults by not completing all of the Performance Obligations
by the Commencement Date and Completion Date as herein amended.
4. Ratification. As expressly modified by this First Amendment, the Agreement is hereby
ratified and confirmed by WEDC and Company.
5. Countervails; Transmission. This First Amendment may be executed in multiple
counterparts,each of which shall be deemed an original,and all of which shall constitute one and the same
agreement. Transmission of an executed signature page of this First Amendment by email will be effective
to create a binding agreement.
[Signatures appear on next page]
2774701v2
IN WITNESS OF,the parties hereto have executed this First Amendment the day and year
first above written,
DC:
Wylie Economic Development,
Corporation,a Texas Corporation
N; e:_
Title: ec 1.47,
co :
Cross Development, LLC, a Texas limited paiinership
("Company"),
"lit'rf°{7
Title:
yile cono lc 1 evelop ent Co e oration
E 0ANDU
TO: WEDC Board of Directors
FROM: Sam Satterwhite, Executive Directf
SUBJECT: Cross Development, LLC
DATE: October 8, 2019
Issue
Consider and act upon a First Amendment to Performance Agreement between the WEDC and
Cross Development, LLC.
Analysis
So as to stay consistent with Council, staff is recommending a 60-day extension by which Cross
Development must complete their Performance Obligations as outlined in Section 2 of the
attached Performance Agreement. With the extension Cross must now conform with the terms
of the Agreement no later than October 31, 2019.
Recommendation
Staff recommends the WEDC Board of Directors approve a First Amendment to Performance
Agreement between the WEDC and Cross Development, LLC.
Attachments
First Amendment
Performance Agreement
FIRST AMENDMENT TO PERFO' CE AG' EMENT
THIS FIRST AMENDMENT TO PERFORMANCE AGREEMENT(this "First Amendment"), is
entered into and is effective as of the 16' day of October, 2019 by and between WYLIE ECONOMIC
DEVELOPMENT CORPORATION,a Texas economic development corporation("WEDC"), and CROSS
DEVELOPMENT, LLC, a Texas limited liability company(the "Company").
WITNESSETH:
WHEREAS, WEDC Board of Directors approved that certain Performance Agreement between
WEDC and Company on March 11, 2018 to facilitate the redevelopment of an approximate 15-acre tract
(the"Project"); and
WHEREAS, WEDC and Company desire to modify and amend the Agreement in certain respects,
as more particularly set forth in this First Amendment.
NOW, THEREFORE, in an effort to address unforeseen circumstances surrounding the
development of qualified infrastructure,the WEDC and Company covenant and agree as follows:
1. Defined Terms. Capitalized terms used but not defined in this First Amendment will have
the meanings given to them in the Agreement.
2. Modification to Performance Obligations. Notwithstanding anything to the contrary in the
Agreement, the Completion Date as defined in the Agreement is hereby modified to be 5:00 p.m., Central
Time,on October 31,2020(the amended"Completion Date").
3. Default. The WEDC's obligation to pay any portion of the Reimbursement Incentive to
Company WILL TE' INATE if Company defaults by not completing all of the Performance Obligations
by the Commencement Date and Completion Date as herein amended.
4. Ratification. As expressly modified by this First Amendment, the Agreement is hereby
ratified and confirmed by WEDC and Company.
5. Counte arts- Transmission. This First Amendment may be executed in multiple
counterparts,each of which shall be deemed an original, and all of which shall constitute one and the same
agreement. Transmission of an executed signature page of this First Amendment by email will be effective
to create a binding agreement.
[Signatures appear on next page]
2774701v2
IN WITNESS WHEREOF,the parties hereto have executed this First Amendment the day and year
first above written.
WEDC:
Wylie Economic Development
Corporation,a Texas Corporation
By:
Name:
Title:
CO l'ANY:
Cross Development, LLC, a Texas limited partnership
("Company").
By:
Name:
Title:
PERFO' ANCE AGREEMENT
Between
Wylie Economic Development Corporation
And
Cross Development,LLC
This Performance Agreement (the "Agreement") is made and entered into by and
between the Wylie Economic Development Corporation ("WEDC"), a Texas corporation
organized and existing under Chapter 501 of the Texas Local Government Code, known as the
Development Corporation Act, as amended from time to time (the "Act") and Cross
Development,LLC, a Texas limited liability company ("Company").
RECITALS
WHEREAS, Company has entered into a contract to acquire 15.7208 acres of property
located in the City of Wylie, Texas (the "City"), which property is more fully described herein
on the attached Exhibit A(the"Property");
WHEREAS, Company proposes to construct on the Property a mixed-use development in
two phases. Phase one shall consist of at least: (i) 286 multifamily units (the "Multifamily
Units"), (ii)2,300 square feet of general retail space (the "Retail Space"), and(iii) approximately
7,000 square feet of restaurant space which shall be split between two restaurants (the
"Restaurant Space"and together with the Multifamily Units and the Retail Space, "Phase One").
Phase two shall consist of approximately 18,600 square feet of office space split between three
separate buildings, the first containing approximately 3,500 square feet of office space, the
second containing approximately 6,000 square feet of office space, and the third containing
approximately 9,100 square feet of office space (collectively, "Phase Two" and together with
Phase One,the "Development"), such Development being depicted on the attached Exhibit"B".
The total project cost of Phase One shall be not less than Thirty-Two Million Dollars
($32,000,000.00);
WHEREAS, Company agrees to provide documentation to WEDC showing that the total
project cost of Phase One is not less than Thirty-Two Million Dollars($32,000,000.00);
WHEREAS, Company agrees to purchase and take title to the Property on or before
March 20, 2018 (the"Purchase Deadline");
WHEREAS, Company agrees to commence construction of the Multifamily Units on or
before August 1,2018 (the"Multifamily Commencement Date")and to complete construction of
the Multifamily Units and to obtain from the City all corresponding Certificates of Occupancy
for the Multifamily Units on or before September 1, 2020(the"Completion Date");
WHEREAS, Company agrees to complete construction of the Retail Space and at least
3,200 square feet of the Restaurant Space and to obtain from the City all corresponding
Certificates of Completion for the Retail Space and at least 3,200 square feet of the Restaurant
Space on or before the Completion Date;
PERFORMANCE AGREEMENT—Page 1
2389685
WHEREAS, for a number of years beginning in 1972 and ending prior to 1980, the
Property was occupied by Electro Extraction, Inc. which operated a state registered landfill for
the disposal of Class III polypropylene and PVC plastic shredded from aluminum and copper
wire (the "Contaminants"). The Property was required to be enrolled in the TCEQ Voluntary
Cleanup Program in November 2003 and received a Final Certificate of Completion on March
31, 2008. While a Final Certificate of Completion was issued, all or a portion of the
Contaminants were allowed to remain on the Property through the date of this Agreement,
impacting a sizeable portion of the soil on the Property(the "Impacted Soil");
WHEREAS, Company agrees to expend at least $500,000 (the "Minimum Removal
Expenditure") for site work including the removal of the Contaminants from the Property and to
remove or remediate all Impacted Soil(the"Removal/Remediation Process");
WHEREAS, Company shall complete the Removal/Remediation Process on or before the
Completion Date;
WHEREAS, Company shall actively market all property south of the Explorer Pipeline
Easement, as depicted in Exhibit A, for commercial uses authorized within PD-MF/CR under
Zoning Case 2017-12,confirm that the same area is fully accessible to vehicular traffic,and that the
same area is free from Contaminates;
WHEREAS, Company has requested financial and/or economic assistance from the
WEDC to plan and construct certain infrastructure improvements to assist in the development of
the Property, consisting of economic assistance for all hard and soft costs relating to the
construction of public and site improvements on or adjacent to the Property;
WHEREAS, Section 501.103 of the Act states that the WEDC may provide funding for
expenditures that are found by the Board of Directors to be required or suitable for infrastructure
necessary to promote or develop new or expanded business enterprises, limited to streets and
roads, rail spurs, water and sewer utilities, electric utilities, or gas utilities, drainage, site
improvements, and related improvements(the"Qualified Infrastructure");
WHEREAS, Company proposes to use the economic incentive for the construction of the
Qualified Infrastructure which will include approved public infrastructure improvements and site
improvements as may be amended from time to time, necessary for the development of the
Property and which will benefit the surrounding properties, as generally described in the attached
Exhibit C;
WHEREAS, the WEDC has found that the Qualified Infrastructure is necessary to
promote or develop new or expanded business enterprises in the City and the WEDC has
concluded that the Qualified Infrastructure constitutes a "project", as that term is defined in the
Act, and is willing to provide Company with economic assistance as hereinafter set forth on the
terms and subject to the conditions as stated herein and Company is willing to accept the same
subject to all terms and conditions contained in this Agreement;
WHEREAS, the WEDC has determined that it is in the best interest of the public and the
City and promotes the purposes authorized by the voters of the City of Wylie for which the
PERFORMANCE AGREEMENT—Page 2
2389685
WEDC was established to encourage the development and use of commercial properties within
the City; and
WHEREAS, the WEDC is willing to provide the Company with economic assistance
hereinafter set forth on the terms and subject to the conditions as stated herein and Company is
willing to accept the same subject to all terms and conditions contained in this Agreement.
NOW, THEREFORE, for and in consideration of the above recitals and the terms,
conditions and requirements hereinafter set forth,the parties hereto agree as follows:
Economic Assistance. Subject to the terms of this Agreement and provided
Company is not in default, the WEDC will provide Company economic assistance in the form of
a performance reimbursement incentive in the sum of Two Hundred Fifty Thousand Dollars
($250,000.00) (the "Reimbursement Incentive") upon completion of the Performance Criteria set
forth below. The total amount of economic assistance and/or incentives to be paid to the
Company, including the Reimbursement Incentive, shall not exceed the cumulative sum of Two
Hundred Fifty Thousand Dollars($250,000.00).
2. Performance Oblieations. The WEDC's obligation to pay Company the
Reimbursement Incentive stipulated above is expressly contingent upon Company completing
the following items(the"Performance Criteria")by the due dates set forth below:
a. Company shall purchase and take title to the Property on or before the
Purchase Deadline;
b. Company shall complete the plans and specifications for the Development
(the "Plans") and submit them to the City for approval prior to commencement of
construction;
c. Company shall commence construction of the Multifamily Units on or
before the Multifamily Commencement Date;
d. Company shall complete construction of the Multifamily Units and obtain
from the City all corresponding Certificates of Occupancy for the Multifamily Units on
or before the Completion Date in substantial accordance with the Plans;
e. Company shall complete construction of the Retail Space and at least
3,200 square feet of the Restaurant Space and obtain from the City all corresponding
Certificates of Completion for the Retail Space and at least 3,200 square feet of the
Restaurant Space on or before the Completion Date in substantial accordance with the
Plans;
f. Company shall supply documentation to the WEDC on or before the
Completion Deadline that the project cost for Phase One was at least Thirty-Two Million
Dollars ($32,000,000.00);
PERFO' CE AGREEMENT—Page 3
2389685
g. On or before the Completion Date,Company shall provide documentation to
the WEDC evidencing that the property south of the Explorer Pipeline Easement is
accessible to vehicular traffic, that the Company has used all reasonable efforts to confirm
that the same area is free from Contaminants as confirmed by engineering reports, soils
• • ysis, or historical documents depicting Electra Extraction, Inc. operations, and finally
documentation that Company is actively marketing the area south of the Explorer Pipeline
Easement as evidenced by a contract with a brokerage firm and installation of a real estate
promotional sign.
h. Company shall supply documentation to the WEDC, and subsequently
made part of this Agreement hereto and attached as Exhibit C, that the Qualified
Infrastructure has been completed and that the cost of constructing the Qualified
Infrastructure was at least Two Hundred Fifty Thousand Dollars ($250,000.00) no later
than the Completion Deadline; and
i. Company shall provide to the WEDC on or before the Completion
Deadline documentation confirming that: (i) the Removal/Remediation Process has been
completed, and (ii) the Company expended an amount greater than or equal to the
Minimum Removal Expenditure in completing the Removal/Remediation Process.
3. WEDC Payment of Reimbursement incentive. Subject to the terms and
conditions of this Agreement, the Reimbursement Incentive shall be paid by WEDC to the
Company within thirty(30) days after WEDC receives documentation confirming that Company
has satisfied all Performance Criteria set forth herein.
4. Default. The WEDC's obligation to pay any portion of the Reimbursement
Incentive to Company will terminate or be reduced, in WEDC's sole discretion, if Company
defaults by not completing the Performance Criteria as set forth in Section 2 of this Agreement.
5. Termination of Agreement. This Agreement may be terminated by mutual
written consent of the parties or by either party, upon the failure of the other party to fulfill an
obligation as set forth in this Agreement.
6. Econo *c Assistance Termination. Notwithstanding the terms of this
Agreement, the WEDC's obligation to pay a portion or all of the Reimbursement Incentive to
Company will expire upon the earlier of(i) the full payment of the Reimbursement Incentive, or
(ii)October 1,2020.
7. Miscellaneous.
a. This Agreement shall be construed according to the laws of the State of
Texas and is subject to all provisions of the Act, which are incorporated herein by
reference for all purposes. In the event any provision of the Agreement is in conflict with
the Act,the Act shall prevail.
b. This Agreement shall be governed by the laws of the State of Texas and is
specifically performable in Collin County, Texas.
PERFORMANCE AGREEMENT—Page 4
2389685
e. This Agreement contains the entire agreement of the parties regarding the
within subject matter and may only be amended or revoked by the written agreement
executed by all the parties hereto.
f. This Agreement may be executed in a number of identical counterparts,
each of which shall be deemed an original for all purposes.
g. In case any one or more of the provisions contained in this Agreement
shall for any reason be held to be invalid, illegal or unenforceable in any respect, such
invalidity, illegality or unenforceability shall not affect any other provision thereof, and
this Agreement shall be construed as if such invalid, illegal or unenforceable provision
had never been contained herein.
h. Each sly .tory represents this Agreement has been read by the party for
which this Agreement is executed and that such party has had an opportunity to confer
with its counsel.
i. Time is of the essence in this Agreement.
j. The parties agree this Agreement has been drafted jointly by the parties
and their legal representatives.
By the execution hereof, each signatory hereto represents and affirms that he is acting on behalf
of the party indicated, that such party has taken all action necessary to authorize the execution
and delivery of the Agreement and that the same is a binding obligation on such party.
[SIGNATURE PAGE FOLLOWS]
PERFORMANCE AGREEMENT—Page 6
2389685
PBo • ; •• •Vedi1 day of ....... 2018 (the
i .-I've Date").
DEVELOPTE ECONOMIC t7A
CO • tion
1 :
Satterwhite,Executive Director
CO
i
Cross
Develop t,LLC,a Texas 1'*co tany
' .�
M
E
'bits:
•'bit A - '• :on of - Plx)perty
Exhibit - Site Plan -1• ent
E •'bit C - The a 'fled truct
PERFORMANCE AOREEM=+ +`—Pep 7
23 '=65
EXHIBIT A
Legal Description of the Property;
BEING a tract of land located in the City of Wylie, Collin County, Texas, being
all of the remainder of Lot 2, Block A, Replat of Lot 1, Block A, Westgate
Center, Phase One, an addition to the City of Wylie according to the plat thereof
as recorded in Cabinet L, Page; 859, Map Records, Collin County, Texas, being all
of that tract of land described in deed to Oreenway Springs, Ltd. as recorded in
Volume 8013, Page 1088, Deed Records, Collin County, and being more particularly
described by metes and bounds as follows:
BEGINNING at a 1/2" iron rod found for the southeast corner of said Lot 2, being
the intersection of the northerly line of the A.T & S.F. Railroad (150' R.O.W.)
and the westerly line of Westgate Way (100' R.O.W. at this point);
THENCE, along the southerly line of said Lot 2, Block A, South 52 degrees 18
minutes 00 seconds West, a distance of 790.00 feet rod a 5/8" iron rod with cap
stamped 'ICI" set for the southwest corner of said Lot 2, being the southeast
corner of Lot 1, Block A, Sanden Addition as recorded in Cabinet L, Page 457,
Map Records, Collin County, Texas;
THENCE, departing said Railroad R.O.W., along the east line of said Sanden
Addition and the west line of said Lot 2, North 0D degrees 03 minutes 22 seconds
East, a distance of 1,392.97 feet to a 5/8" iron rod with cap stamped
"Probeck-5187" found for the northwest corner of the herein described tract and
the southwest corner of Lot 2A, Block A, Plat of Lot 2A, Black A, West Center
Phase One es recorded in Cabinet M, Page 832, Map Records, Collin County, Texas;
THENCE, departing the east line of said Sanden Addition, along the south line of
said Lot 2A, South 89 degrees 56 minutes 38 seconds East, a distance of 519.10
feet to a 5/8" iron rod found with cap stamped "Probect-5187" being the southeast
corner of said Lot 2A, the northeast corner of the herein described tract, being
in the westerly right-of-way line of Westgate Way (85' R.O.W. at this point);
THENCE, along the westerly line of said Westgate Way and the easterly line of the
herein described tract as follows:
South 44 degrees 58 minutes 38 seconds East, a distance of 7.05 feet to a
1/2" iron rod found, the beginning of a curve to the right;;
Along said curve to the right through a central angle of 49 degrees 30
minutes 38 seconds, a radius of 292.50 feet, an arc length of 252.76 feet, a
chord bearing of South 20 degrees 11 minutes 19 seconds East and a chord distance
of 244.96 feet to a 1/2" iron rod found;
South 04 degrees 34 minutes 00 seconds West, a distance of 493.90 feet to
a 1/2" iron rod found, the beginning of a curve to the left;
Along said curve to the left through a central angle of 42 degrees 18
minutes 00 seconds, a radius of 262.79 feet, an arc length of 194.01 feet, a
chord bearing of South 18 degrees 35 minutes 00 seconds East and a chord distance
of 189.63 feet to the POINT OF BEGINNING and containing 684,800 square feet or
15.7208 acres of land more or less.
PERFORMANCE AGREEMENT—Page 8
2389685
EXHIBIT B
Site Plan of the Development
...
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—— .
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PERFORMANCE'AGREEMEN1'—Page 9
2389685
E IBIT C
The Qualified Infrastructure
[TO BE ATTACHED]
PERFORMANCE AGREEMENT—Page 1.0
2389685
ylie cono ic 1 evelop ent Corporation
ME ORANDU
TO: WEDC Board of Directors
FROM: Jason Greiner, Assistant Direct()
SUBJECT: North Dallas Wylie Land Invest di Per ormance Agreement
DATE: September 20, 2019
Issue
Consider and act upon a Performance Agreement between the WEDC and North Dallas Wylie
Land Investors, LLC.
Analysis
As the Board will recall, WEDC staff presented Project 2019-7a back in August of 2019. After
further analysis at the September 24th meeting, staff took the project to City Council on
September 24, 2019. In accordance with Resolution No. 2019-17(R), the Wylie City Council
authorized the WEDC to formalize negotiations with North Dallas Wylie Land Investors, LLC
and enter into a Performance Agreement with the same.
North Dallas Wylie requested assistance from the WEDC specifically related to fee waiver &
infrastructure assistance as related to the construction of a new 8,000 square foot medical office
building adjacent to the Kroger Anchored Woodbridge Centre, more specifically 731
Woodbridge Parkway in Wylie, Texas. North Dallas Wylie plans to invest no less than $2.3
million in the project over the next 18 months. The following Agreement outlines a $120,000
incentive,payable over a three-year period.
The Performance Measures and Incentive Payments are identified as follows:
Incentive No. 1 $60,000
A Proof of Building Permit for the Facility from the City of Wylie no later than
April 1, 2020; and
A Proof of payment of fees as evidenced by Permit Fee Receipt from the City of
Wylie; and
A Proof of Certificate of Occupancy for an 8,000-square foot medical office
building from the City of Wylie by April 1, 2021; and
A Proof of minimum construction cost of$2,300,000; and
A Ad valorem property taxes current.
WEDC —North Dallas Wylie
October 11, 2019
Page 2 of 2
Incentive No. 2 ...... „ $20,000
A Ongoing operations of North Dallas Wylie; and
A Ad valorem property taxes current.
Incentive No. 3 $20,000
A Ongoing operations of North Dallas Wylie; and
A Ad valorem property taxes current.
A Ongoing operations of North Dallas Wylie; and
A Ad valorem property taxes current.
Should North Dallas Wylie Land Investors, LLC. fail to meet the Performance Measures for
Incentive No. 1, the entire Performance Agreement is voided in advance. Further, no partial
incentive payments will be provided.
Staff Recommendation
Staff recommends that the WEDC Board of Directors approve a Perfotinance Agreement
between WEDC and North Dallas Wylie Land Investors, LLC providing for a maximum
incentive of $120,000 and further authorizing the WEDC Executive Director to execute said
Agreement.
Attachments
Performance Agreement
Aerial
Site Plan
PERFO ' ANCE AGREEMENT
Between
WYLIE ECONOMIC DEVELOPMENT CORPO ' • TION
And
NORTH DALLAS WYLIE LAND INVESTORS,LLC.
This Performance Agreement (this "Agreement") is made and entered into by and between
the Wylie Economic Development Corporation (the "WEDC"), a Texas corporation organized
and existing under the Development Corporation Act of 1979, as amended from time to time (the
"Act"), and North Dallas Wylie Land Investors, LLC., a Texas limited liability company (the
"Company").
RECITALS
WHEREAS, the Company is desirous of making real and personal property improvements
in the form of an 8,000-square foot medical office building (the "Project"). The project will have an
estimated project cost of Two Million Three Hundred Thousand Dollars ($2,300,000) and will be
located at 731 Woodbridge Parkway in Wylie, Texas (the"Facility"); and
WHEREAS, the Company has requested that the WEDC provide economic assistance to
offset the cost of the construction for the Project and other expenses associated with constructing
the Facility in the City of Wylie, Texas; and
WHEREAS, the WEDC has determined that it is in the best interest of the public and the
City and promotes the purposes authorized by the voters of the City of Wylie for which the WEDC
was established to encourage the development and use of business properties within the City; and
WHEREAS, the WEDC has estimated that $60,000 will be assessed by the City Wylie in
development fees to be paid prior to issuance of Certificate of Occupancy of the Facility; and
WHEREAS, for the public purpose of promoting economic development and diversity,
increasing employment, reducing unemployment and underemployment, expanding commerce and
stimulating business and commercial activities in the State of Texas, and the City of Wylie, the
WEDC desires to offer economic assistance to Company as more particularly described in this
Agreement.
NOW, THEREFORE, for and in consideration of the promises, covenants and agreements
set forth herein, the receipt and sufficiency of which are hereby acknowledged, the WEDC and
Company agree as follows:
I. Economic Assistance. Subject to the terms of this Agreement, the WEDC will provide
economic assistance in an amount up to, but not to exceed One Hundred Twenty Thousand
Dollars ($120,000.00) (the "Economic Development Incentives"). The Economic Incentives
will be paid according to the criteria set forth herein with the WEDC's obligation to pay the
Economic Development Incentives terminating on April 1, 2024.
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b. Incentive No. 2: An Economic Development Incentive of Twenty Thousand Dollars
($20,000) will be paid to Company upon completion of the following Performance
Requirements for Incentive No. 2:
1) Company is current on all ad valorem taxes and other property taxes due on
the Facility by January 31 of the year after they are assessed and provide
written notice and evidence of such payment to WEDC in a form satisfactory
to WEDC; and
3) Company shall supply documentation to WEDC that the Company has
continuously occupied the Facility through the one (1)year anniversary of the
CO Deadline; and
4) Eligibility expiration for the Company to qualify for this Incentive No. 2 is
April 1, 2022.
c. Incentive No. 3: An Economic Development Incentive of Twenty Thousand Dollars
($20,000) will be paid to Company upon completion of the following Performance
Requirements for Incentive No. 3:
1) Company is current on all ad valorem taxes and other property taxes due on
the Facility by January 31 of the year after they are assessed and provide
written notice and evidence of such payment to WEDC in a form satisfactory
to WEDC; and
3) Company shall supply documentation to WEDC that the Company has
continuously occupied the Facility through the two (2) year anniversary of
the CO Deadline; and
4) Eligibility expiration for the Company to qualify for this Incentive No. 3 is
April 1, 2023.
d. Incentive No. 4: An Economic Development Incentive of Twenty Thousand Dollars
($20,000) will be paid to Company upon completion of the following Performance
Requirements for Incentive No. 4:
1) Company is current on all ad valorem taxes and other property taxes due on
the Facility by January 31 of the year after they are assessed and provide
written notice and evidence of such payment to WEDC in a form satisfactory
to WEDC; and
3) Company shall supply documentation to WEDC that Company has
continuously occupied the Facility through the three (3) year anniversary of
the CO Deadline; and
Page 3 of 6
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4) Eligibility expiration for the Company to qualify for this Incentive No. 4 is
April 1, 2024.
III. WEDC Payment of Reimbursement Incentives. Subject to the terms of this Agreement,
the WEDC shall pay the Incentives within approximately five (5) days of receipt of the
required documentation from the Company, subject to verification by the WEDC that the
Performance Requirements have been met or exceeded by the Company. Further, Incentives
No. 2 and No. 3 will be paid not sooner than 12 months following payment of preceding
Incentive Payment.
IV. Non-Attainment of Performance Requirements. In the event that the Company does not
meet or exceed a Performance Requirement as specified in Section II (a), the WEDC
Economic Development Incentive will be voided in advance of payment in addition to all
future Economic Development Incentive payments being voided at the sole discretion of the
WEDC. The Company will not be eligible to receive an Economic Development Incentive
payment if documentation supporting Performance Requirements are not received by
WEDC prior to the Eligibility Expiration Date. Company will be notified in writing in the
event a Performance Requirement is not met and have thirty (30) days to cure said default.
V. Economic Assistance Termination. The Agreement may be teiminated by mutual
agreement of the parties or by either party, upon the failure of the other party to fulfill an
obligation as set forth in Section II above. Regardless of the Company's level of attainment
of the Performance Requirements set forth in Section II above, the WEDC's obligation to
pay the Reimbursement Incentive will expire in full on April 1, 2024.
VI. Employee Hiring, Materials and Supplies Purchase. Although not an event of default or
a condition to any advance in the Agreement, WEDC requests that the Company satisfies its
need for all construction contractors from Wylie residents and purchase all materials,
supplies and services necessary to affect the Project and subsequent occupancy of the
Facility from Wylie merchants and businesses.
VII. Community Involvement. Although not an event of default or condition of any advance
hereunder, the Company agrees to actively participate in community and charitable
organizations and/or activities, the purpose of which are to improve the quality of life in the
City of Wylie, Texas, and to actively encourage its employees to be involved in such
organizations and/or activities.
VIII. Verification and Compliance. The Company will allow the WEDC to audit necessary
Company's records, documents, agreements and other instruments in furtherance of the
following purposes: (i) to ensure the Company's compliance with the affiiiiiative covenants
set forth in this Agreement; (ii) to determine the existence of an Event of Default under the
terms of this Agreement; (iii) to ensure compliance with any other terms and conditions set
forth herein or any related documents. Company will provide reports certifying the status of
compliance, jobs retained, new investments and any other relevant information until the
termination of this Agreement
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IX. Cessation of Economic Assistance. Notwithstanding anything herein to the contrary,
WEDC shall have no obligation to disburse WEDC Economic Development Incentives if
the Company becomes insolvent, files a petition in bankruptcy or similar proceedings, or is
adjudged bankrupt, or is delinquent on any property tax payments or an Event of Default
under the terms of this Agreement occurs.
X. Non-Payment of Economic Assistance. The following will constitute an Event of Default
and any advance shall not be forgiven in an Event of Default: the Company becomes
insolvent, makes any materially false statements to the City and/or the WEDC, fails to pay
ad valorem taxes, or files suit against the City and/or the WEDC.
XI. Miscellaneous.
a. This Agreement shall inure to the benefit of the parties hereto and shall not be assignable
by Company without the prior written consent of the WEDC, which consent may be
withheld by the WEDC in its sole and absolute discretion.
b. This Agreement shall be construed according to the laws of the State of Texas and is
subject to all provisions of Vernon's Ann. Civ. St. Art. 5190.6, which are incorporated
herein by reference for all purposes. In the event any provision of the Agreement is in
conflict with article 5190.6, article 5190.6 shall prevail.
c. This Agreement contains the entire agreement of the parties regarding the within subject
matter and may only be amended or revoked by the written agreement executed by all of
the parties hereto.
d. This Agreement shall be governed by the laws of the State of Texas and is specifically
performable in Collin County, Texas.
e. Any notice required or permitted to be given under this agreement shall be deemed
delivered by depositing the same in the United States mail, certified with return receipt
requested, postage prepaid, addressed to the appropriate party at the following addresses,
or at such other address as any part hereto might specify in writing:
WEDC: Samuel D. R. Satterwhite
Executive Director
Wylie Economic Development Corporation
250 South Highway 78
Wylie, Texas 75098
COMPANY: North Dallas Wylie Land Investors, LLC.
731 Woodbridge Parkway
Wylie, TX 75098
Attention: Kushal V. Patel
By the execution hereof, each signatory hereto represents and affirms that he is acting on behalf of
the party indicated, that such party has taken all action necessary to authorize the execution and
delivery of the Agreement and that the same is a binding obligation on such party.
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EXECUTED this day of September 2019.
WEDC:
Wylie Economic Development Corporation
By:
Samuel D.R. Satterwhite, Executive Director
COMPANY:
North Dallas Wylie Land Investors,LLC,
By:
Kushal V. Patel, Partner
Page 6 of 6
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ylie cono ic P evelo I ent Con oration
E ORANDU
TO: WEDC Board of Directors
FROM: Sam Satterwhite, Executive Director
SUBJECT: Thoroughfare Impact Fees
DATE: October 11, 2019
Issue
Discussion of issues surrounding Thoroughfare Impact Fees.
Analysis
On Tuesday, October 8th the Wylie City Council directed the City Manager to draft an Ordinance
amending water, sewer, and thoroughfare/roadway impact fees associated with new residential
and commercial construction. Consideration of said Ordinance will take place on either October
22nd or November 12th. Staff spoke at the Meeting and encouraged Council to consider the
financial impact on new development. The request was made based upon significant increases to
roadway impact fees.
The attached chart which was created by the City shows existing roadway/utility fees, proposed
fees, and neighboring communities fees for single family and shopping center development only.
While staff will go into much greater detail at the Board meeting, a quick analysis of the
shopping center use have the roadway impact fees increasing between 134% and 494%
depending on which side of town the new project takes place.
If you expand the analysis to other uses for Roadway Impact Fees only, the following increases
apply to project specific square footage:
Existing Proposed Fee Percentage
Use Sq Ft Fee West Side East Side Increase
Medical Off. 8,000 $34,272 $75,899 $192,362 121%—461%
Restaurant 7,000 $37,716 $106,911 $270,962 183% - 618%
General Office 6,000 $10,728 $23,362 $59,210 118% - 452%
Fast Food 3,500 $45,710 $125,401 $317,824 174%—595%
Shop. Center 10,000 $29,400 $68,916 $174,664 134% - 494%
The above calculations are only Roadway Impact Fees. Water & Sewer Impact Fees, Building
Permit Fees, Plan Review Fees, Fire Inspection Fees, Fire Development Fees, etc. also apply.
WEDC —Impact Fees
October 11, 2019
Page 2 of 2
For example, the above 7,000 square foot Full-Service Restaurant, including all fees, would be
$137,843 on the west side of town and $301,893 on the east side of town.
The above only represents a high-level analysis of this issue. Staff will provide a more thorough
analysis at the Board Meeting along with a description of the Roadway Impact Fee process.
Recommendation
N/A
Attachments
Impact Fee Table
NEIGHBOR G CIT IMPACT FEE TABLE ( 0A DWA1
Entity ' Sing F Shopping Center
Units . .Impact Fee . Units �Impcat Fee
Allen Area 1 Dwelling Unit $ 1,350,00 1,000 SF $ 3,307.50
Allen Area 2 _ Dwelling Unit $ 777,00 , 1,000 SF $ 1,903,65
Allen Area 3 Dwelling Unit $ 606.00 1,000 SF , $ 1,484.70
Frisco Area A DwellinzUnit $ 4,257.00 1,000 SF $ 8,828.00
Frisco Area B Dwelling Unit $ 2,427.00 1,000 SF $ 5,034.00
Frisco Area C Dwelling Unit $ 2,424.00 1,000 SF $ 5,027.00
Frisco Area D Dwellin Unit $ 1,935.00 1,000 SF $ 4,013.00
McKinney Dwelling Unit , $ 688.00 1,000 SF $ 1,685.60
Rockwall Areas 1/2/4 Dwelling Unit $ 815.16 1,000 SF $ 670.24
Rockwall Area 3 Dwelling Unit $ 382.11 1 1,000 SF 1$ 314.18
Rowlett Dwellin Unit $ 3,490,00 1,000 SF ' $ 2,753,50
Sachse Dwelling $ 2,450.42 1,000 SF i $ 2,982.21
Wylie (Existing)West Dwelling Unit $ 1,200,00 1,000 SF $ 2,940,001
Wylie (Existing)East Dwelling Unit $ 1,200.00 1,000 SF $ 2,940,00
Wylie (Proposed) West Dwelling Unit $ 2,714.58 1,000 SF $ 6,891.56
I Wylie (Proposed) East Dwelling Unit $ 6,880.01 1,000 SF $ 17.466.41
NEIGHBORINGCITYIMPACT FEE TABLE (UTILITY
Entity. Single-Family ‘ Sh in Ctr
_ Units Water IF Wastewater IF , „ Units _ Water IF. Wastewater IF
Allen 5/8"/3/4" $ 2,840,00 $ 1,644,00 2" $ 22,720.26 $ 13,152 69
Frisco 1" $ 2,120.00 $ 2,344.00 9 2" , $ 9,690.00 $ 10,714,00
McKinney 3/4" $ 1,294.70 $ 162,14 2" Ultrasonic $ 10,746,01 $ 1,345.76
Murphy 3/4" $ 883_43 $ 2,715.22 2"Compound $ 7,067,44 $ 21,721.76
Rockwall 5/8" $ 1,555.53 $ 1,236.29 2"Compound $ 12,444,21 $ 9,890.30
Rowlett 3/4" $ 1,466.00 $ 1,377.00 2" $ 11,728.00 $ 11,016.00
Sachse 5/8"/3/4" $ 2,521.69 $ 1,857.68 2"Compound , $ 20,173,57 $ 14,861.47
Wylie (Existing) 5/8"/3/4" $ 3,651,42 $ 773.48 2"Compound $ 19,352,52 $ 4,099,45
Wylie (Proposed) Dwelling Unit $ 4,294.24 $ 914.63 2"Compound $ 22,759.47 $ 4,847.54
ylie cono ic P evelop ent Cor s oration
ORA DU
TO: WEDC Board of Directors
FROM: Sam Satterwhite, Executive Director
SUBJECT: Staff Report
DATE: October 11, 2019
Issue
Staff report: review issues surrounding WEDC Performance Agreement Summary, Hotel
Occupancy Tax, environmental activity summary, Brown & 78 redevelopment update, 544
Gateway redevelopment update, FM 544 waterline, and regional housing starts.
Analysis
As a reminder to Board members, the Board may not discuss an item which is not specifically
identified on the agenda. Only those items listed above can be discussed. Should any Board
member desire that an issue be placed on the agenda at any time prior to a Board meeting, WEDC
President or staff can be contacted, or a request can be made during the Discussion Item below.
WEDC Performance Agreement Summary
Attached for the Board's review is a summary of all outstanding Performance Agreements
including Cardinal Strategies, Carrie Elle,Clark Street Development,Cross Development,DANK
Real Estate, DCU, Exco Extrusion Dies, Rocking M, SAF Holland, SCSD-Finnell, and Taylor&
Son.
Woodbridge Centre
Within the Kroger-anchored center, $17,041.38 in sales tax was generated in July 2019 with
$4,260.35 subject to reimbursement. July 2019 sales tax represents an 25% increase over the same
period in 2018.
Hotel Occupancy Tax
Hotel Occupancy Taxes received to date are attached for the Board's reference and review. The
Holiday Inn Express & Suites opened to the public on September 10, 2019. As detailed on the
attachment, only one of two hotels reported/paid occupancy tax the third quarter of 2019.
WEDC- Staff Report
October 8, 2019
Page 2 of 2
Environmental Activity Summary
Attached for the Board's review is a spreadsheet tracking the remaining remediation project with
W&M Environmental. With the MSD certified for the 544 Gateway property, closure by the
TCEQ is anticipated on or about December 1, 2019. Final comments from the TCEQ requested
additional sampling which may relieve future property owners from the requirement of providing
a cap on areas with significant contamination.
Elm Creek Environmental has completed its data collection on the Brown/78 site and is now
preparing the Affected Property Assessment Report (APAR) to be submitted to the TCEQ. Staff
will be requesting the same case worker that has processed the last three VCP submittals by the
WEDC.
Brown & 78 Redevelopment Update
The KCS closing has been moved up to November 22nd so as to not conflict with Thanksgiving.
The WEDC closed on the acquisition of the Kreymer tract on October 9th. There remains only one
property that the WEDC has not secured either by contract or verbal commitment (County &
TxDOT)
.544 Gateway Redevelopment Update
In review,the City put out to bid the sale of 1.6 acres out of the 4.5 acres owned within the Gateway
property. Only one bidder responded. As required by law, the bid price must be equal to or in
excess of the appraised value as determined by an independent third-party appraiser. Fortunately,
the bid came in at $50,400 over and above the appraisal. A final contract is now being processed
by the City with an executed contract anticipated within the next two weeks.
FM 544 Waterline
Staff will provide an update on the 544 water line project(cost & timing) at the Board meeting.
Regional Housing Starts
Thirty-seven homes were permitted in Wylie for the month of September 2019. Sachse, Murphy
and Lavon permitted a combined four with Inspiration not yet reporting.
No action is requested by staff for this item.
Attachments
Performance Agreement Summary
Environmental Activity Report
Hotel Occupancy Tax Report
Regional Housing Permits
CSD Woodbridge Centre-Sales Tax Reimbursement Report
Filing Allocation City 4B WEDC WEDC
Period Period 1.00% 0.50% 0.50% Total Reimbursement
Jan-14 Mar-14 $500.33 $250.17 $250.17 $1,000.66 $250.17
Sub-Total 1,000.66 250.17
Feb-14 Apr-14 608.31 304.16 304.16 1,216.62 304.16
Mar-14 May-14 819.13 409.57 409.57 1,638.26 409.57
Apr-14 Jun-14 1,474.84 737.42 737.42 2,949.67 737.42
Sub-Total 5,804.55 1,451.14
May-14 Jul-14 1,856.70 928.35 928.35 3,713.39 928.35
Jun-14 Aug-14 25,686.18 12,843.09 12,843.09 51,372.36 12,843.09
Jul-14 Sep-14 1,482.27 741.14 741.14 2,964.54 741.14
Sub-Total 58,050.29 14,512.57
Aug-14 Oct-14 1,927.17 963.59 963.59 3,854.34 $963.59
Sep-14 Nov-14 32,934.65 16,467.32 16,467.32 65,869.29 16,467.32
Oct-14 Dec-14 1,998.92 999.46 999.46 3,997.84 999.46
Sub-Total 73,721.47 18,430.37
Nov-14 Jan-15 2,885.15 1,442.58 1,442.58 5,770.30 1,442.58
Dec-14 Feb-15 29,624.02 14,812.01 14,812.01 $59,248.04 $14,812.01
Jan-15 Mar-15 6,488.22 3,244.11 3,244.11 $12,976.44 $3,244.11
Sub-Total $77,994.78 $19,498.70
Feb-15 Apr-15 5,694.92 2,847.46 2,847.46 11,389.83 2,847.46
Mar-15 May-15 31,176.75 15,588.37 15,588.37 $62,353.49 $15,588.37
Apr-15 Jun-15 5,390.41 2,695.20 2,695.20 $10,780.81 $2,695.20
Sub-Total $84,524.13 $21,131.03
May-15 Jul-15 6,467.00 3,233.50 3,233.50 12,934.00 3,233.50
Jun-15 Aug-15 32,110.31 16,055.16 16,055.16 $64,220.62 $16,055.16
Jul-15 Sep-15 5,548.58 2,774.29 2,774.29 $11,097.15 $2,774.29
Sub-Total $88,251.77 $22,062.94
Aug-15 Oct-15 5,683.49 2,841.74 2,841.74 11,366.97 2,841.74
Sep-15 Nov-15 41,414.13 20,707.06 20,707.06 $82,828.25 $20,707.06
Oct-15 Dec-15 6,007.81 3,003.91 3,003.91 $12,015.62 $3,003.91
Sub-Total $106,210.84 $26,552.71
Nov-15 Jan-16 6,246.73 3,123.36 3,123.36 12,493.45 3,123.36
Dec-15 Feb-16 38,577.49 19,288.74 19,288.74 $77,154.97 $19,288.74
Jan-16 Mar-16 5,383.48 2,691.74 2,691.74 $10,766.95 $2,691.74
CSD Woodbridge Centre-Sales Tax Reimbursement Report
Sub-Total $100,415.37 $25,103.84
Feb-16 Apr-16 5,556.02 2,778.01 2,778.01 11,112.03 2,778.01
Mar-16 May-16 35,400.22 17,700.11 17,700.11 $70,800.43 $17,700.11
Apr-16 Jun-16 5,929.35 2,964.67 2,964.67 $11,858.69 $2,964.67
Sub-Total $93,771.15 $23,442.79
May-16 Jul-16 5,622.45 2,811.22 2,811.22 11,244.89 2,811.22
Jun-16 Aug-16 36,078.78 18,039.39 18,039.39 $72,157.55 $18,039.39
Jul-16 Sep-16 5,553.88 2,776.94 2,776.94 $11,107.76 $2,776.94
Sub-Total $94,510.20 $23,627.55
Aug-16 Oct-16 5,386.52 2,693.26 2,693.26 $10,773.03 2,693.26
Sep-16 Nov-16 45,851.97 22,925.99 22,925.99 $91,703.94 $22,925.99
Oct-16 Dec-16 5,712.60 2,856.30 2,856.30 $11,425.19 $2,856.30
Sub-Total $113,902.16 $28,475.54
Nov-16 Jan-17 5,534.56 2,767.28 2,767.28 $11,069.11 2,767.28
Dec-16 Feb-17 39,832.46 19,916.23 19,916.23 $79,664.92 $19,916.23
Jan-17 Mar-17 5,210.39 2,605.20 2,605.20 $10,420.78 $2,605.20
Sub-Total $101,154.81 $25,288.70
Feb-17 Apr-17 5,350.85 2,675.42 2,675.42 $10,701.69 2,675.42
Mar-17 May-17 35,935.03 17,967.52 17,967.52 $71,870.06 $17,967.52
Apr-17 Jun-17 5,446.64 2,723.32 2,723.32 $10,893.27 $2,723.32
Sub-Total $93,465.02 $23,366.26
May-17 Jul-17 6,978.40 3,489.20 3,489.20 $13,956.79 3,489.20
Jun-17 Aug-17 35,612.74 17,806.37 17,806.37 $71,225.48 $17,806.37
Jul-17 Sep-17 5,225.94 2,612.97 2,612.97 $10,451.87 $2,612.97
Sub-Total $95,634.14 $23,908.54
Aug-17 Oct-17 5,692.90 2,846.45 2,846.45 $11,385.79 2,846.45
Sep-17 Nov-17 46,321.69 23,160.85 23,160.85 $92,643.38 $23,160.85
Oct-17 Dec-17 4,662.38 2,331.19 2,331.19 $9,324.76 $2,331.19
Sub-Total $113,353.93 $28,338.48
Nov-18 Jan-18 6,690.47 3,345.23 3,345.23 $13,380.93 3,345.23
Dec-18 Feb-18 46,316.53 23,158.26 23,158.26 $92,633.05 $23,158.26
Jan-18 Mar-18 5,988.51 2,994.26 2,994.26 $11,977.02 $2,994.26
Sub-Total $117,991.000 $29,497.75
Feb-18 Apr-18 6,805.46 3,402.73 3,402.73 $13,610.91 3,402.73
Mar-18 May-18 41,994.46 20,997.23 20,997.23 $83,988.92 $20,997.23
CSD Woodbridge Centre-Sales Tax Reimbursement Report
Apr-18 Jun-18 6,947.44 3,473.72 3,473.72 $13,894.87 $3,473.72
Sub-Total $111,494.70 $27,873.68
May-18 Jul-18 7,458.58 3,729.29 3,729.29 $14,917.16 3,729.29
Jun-18 Aug-18 40,091.04 20,045.52 20,045.52 $80,182.08 $20,045.52
Jul-18 Sep-18 6,796.04 3,398.02 3,398.02 $13,592.07 $3,398.02
Sub-Total $108,691.31 $27,172.83
Aug-18 Oct-18 7,102.43 3,551.21 3,551.21 $14,204.85 3,551.21
Sep-18 Nov-18 49,320.18 24,660.09 24,660.09 $98,640.36 $24,660.09
Oct-18 Dec-18 7,127.12 3,563.56 3,563.56 $14,254.24 $3,563.56
Sub-Total $127,099.45 $31,774.86
Nov-19 Jan-19 7,328.98 3,664.49 3,664.49 $14,657.96 3,664.49
Dec-19 Feb-19 45,439.30 22,719.65 22,719.65 $90,878.60 $22,719.65
Jan-19 Mar-19 6,870.72 3,435.36 3,435.36 $13,741.44 $3,435.36
Sub-Total $119,278.00 $29,819.50
Feb-19 Apr-19 6,753.31 3,376.66 3,376.66 $13,506.62 3,376.66
Mar-19 May-19 39,606.81 19,803.41 19,803.41 $79,213.62 $19,803.41
Apr-19 Jun-19 8,303.33 4,151.66 4,151.66 $16,606.65 $4,151.66
Sub-Total $109,326.89 $27,331.72
May-19 Jul-19 9,157.91 4,578.95 4,578.95 $18,315.81 4,578.95
Jun-19 Aug-19 43,106.68 21,553.34 21,553.34 $86,213.36 $21,553.34
Jul-19 Sep-19 8,520.69 4,260.35 4,260.35 $17,041.38 $4,260.35
Sub-Total $121,570.55 $30,392.64
Total $2,117,217.17 $529,304.29
Note: Anticipated completion date for the$1 mm sales tax incentive obligation is 9/30/23.
Outstanding Performance Agreement Summary
Company Performance Obligations Expiration Incentive Comment/Notes
Cardinal Strategies
1. Receipt of documentation evidencing minimum
expenditures of$106,800 for qualified
infrastructure; obtain a CO no later than
12/31/20; current on ad valorem taxes due by
1/31 of the year after they are assessed. 12/31/2020 $32,000
2. Base Incentive: Receipt of documentation
evidencing continuous occupation of the facility;
maintain employment of at least 30 full time
employees through the 1 year anniversary of CO;
and current on ad valorem taxes due by 1/31 of
the year after they are assessed. 12/31/2021 $6,933
Additional Incentive: Company qualifies for a $500
reimbursement incentive for each employoee
created, staffed and maintained at the facility Up to
beyond the 30 required for Incentive 1. 12/31/2021 $18,000
3. Base Incentive: Receipt of documentation
evidencing continuous occupation of the facility;
maintain employment of at least 30 full time
employees through the 1 year anniversary of CO;
and current on ad valorem taxes due by 1/31 of
the year after they are assessed. 12/31/2022 $6,933
Additional Incentive: Company qualifies for a $500
reimbursement incentive for each employoee
created, staffed and maintained at the facility Up to
beyond the 30 required for Incentive 1. 12/31/2022 $18,000
Outstanding Performance Agreement Summary
4. Base Incentive: Receipt of documentation
evidencing continuous occupation of the facility;
maintain employment of at least 30 full time
employees through the 1 year anniversary of CO;
and current on ad valorem taxes due by 1/31 of
the year after they are assessed. 12/31/2023 $6,933
Additional Incentive: Company qualifies for a $500
reimbursement incentive for each employoee
created, staffed and maintained at the facility Up to
beyond the 30 required for Incentive 1. 12/31/2023 $18,000
Carrie Elle Receipt of documentation of minimum project
cost of$15,000 for the purchase of new
equipment;current on ad valorem taxes. 1/31/2019 $2,500 Paid
Receipt of documentation evidencing ongoing
operations at 311 N. Ballard; current on ad
valorem taxes. 1/31/2020 $2,500
Cross Development Purchase and take title to the property by
3/20/18. 3/20/2018 Complete
Commence construction of multifamily units by
8/1/18. 8/1/2018 Complete
Complete construction of retail space and at least
3,200 sf of restaurant space and obtain COC by
9/1/20. 9/1/2020
Provide documentation to WEDC evidencing:
Construction costs for Phase One of$32mm;
property south of Explorer Pipeline is accessible to
vehicular traffic; $250,000 in expenditure for
qualified infrastructure _ 9/1/2020
Outstanding Performance Agreement Summary
Documentation to City confirming i) Completion
of removal/remediation ii) Company expended an
amount greater than or equal to minimum
removal expenditure ($500,000). 9/1/2020 $250,000
CSD Woodbridge Phase I -Acquire property for 110,000 sf Kroger by
7/31/2016; CO by 3/31/2014 3/31/2014 $100,000 Paid
Phase II -CO for 120,600 sf retail space Sales tax
(completed) 3/31/2014 reimburse quarterly
Phase Ill -CO for 127,600 sf retail space Sales tax
(completed) 3/31/2017 reimburse quarterly
Sales tax
reimburse
ending earlier
of $1.1 mm
paid or 10 Cumulative incentive not
years from to exceed $1.1 mm.
Phase IV-CO for 134,600 sf retail space Start Date Reimbursement
(completed) 3/31/2019 (9/15/23)., spreadsheet attached.
Dank Real Estate-2
la. Documentation of company's application for
CO for a 10,140 sf expansion at 216 Windco Cir.;
permit fee receipt for not less than $15,600
(overage to be paid by WEDC), documentation for
construction costs of$1,500,000; current on ad
valorem taxes;verification of employment of 25
full time employees as of 10/25/17. 7/31/2019 $15,600
lb. CO for a 10,140 sf expansion at 216 Windco
Cir. 7/31/2019 $21,500
Outstanding Performance Agreement Summary
2. Minimum valuation of$2,100,000 for real and
personal property at 216 Windco Cir.; current on
ad valorem taxes; ongoing operations of Deanan
Popcorn at facility; employment verification of 29
full-time employees. 7/31/2020 $22,900
3. Minimum valuation of$2,100,000 for real and
personal property at 216 Windco Cir.; current on
ad valorem taxes;ongoing operations of Deanan
Popcorn at facility; employment verification of 33
full-time employees. 7/31/2021 23,000
DCU, Inc. 1. a. 1. Documentation supporting application to
City of Wylie for a CO for a 11,200 sq ft facility
located at 2774 Capital; 2. permit fee receipt from
City of Wylie for not less than $31,534; 3.
documentation supporting construction cost of
$700,000; 4. documentation supporting an
executed contract of not less than $39,885 to
extend a gas line 725 feet to the easternmost
property line of lot located at 2774 Capital Street;
5. current on ad valorem taxes. Paid City of Wylie
8/1/2018 $31,534 $24,545.13
1.b. 1.Certificate of Occupancy, 11,200 Sq ft $51,324 --
building; 2. receipt of documentation supporting $19,311 paid
construction of a gas line at the easternmost to Company;
property line at a cost of not less than $39,885; $32,013 paid
3. letter from Atmos Energy asserting that to Company's',
improvements installed to Atmos standards and Utility
available to other customers. 8/1/2018 Contractor Paid
Outstanding Performance Agreement Summary
2. Minimum valuation of$1,200,000 for real and
personal Property; current on ad valorem taxes,
continuous operations at 2774 Capital. Amended
to$10,645 in Amendment No. 3. 9/1/2019 $10,645 Paid
3. Minimum valuation of$1,200,000 for real and
personal Property; current on ad valorem taxes,
continuous operations at 2774 Capital.Added to
this payment is the fee difference from Incentive 1
of 4 in the amount of$6,988.80. 8/1/2020 $19,488.80'
Exco Extrusion Dies(Texas), Inc. IA. CO on 30,000 sf building 2/24/2016 $87,000 Paid
1B. On an annual basis maintain appraised value of
$7.55 mm, maintain Texas as principal place of
business, employ 20 full time employees 2/24/2017 $20,000 Paid
2/24/2018 $20,000 Paid
2/24/2019 $20,000 Paid
2/24/2020 $20,000
Seller financing on$350,000 note,forgiven Forgiveness#1-2-24-17
annually beginning 1-31-17 in equal amounts of Forgiveness#2 -2-24-18
$70,000 for 5 years. 2017-2021 $350,000 Forgiveness#3 -2-24-19
Rocking M !Acquire title to property by March 1, 2019; obtain
building permit by April 1, 2019; Certificate of
Occupancy by April 1, 2020; provide
documentation evidencing$300,000 in
construction costs for facility; provide
documentation evidencing$89,500 in qualified
infrastructure costs. 4/1/2020, $89,500
SAF Holland A. Tax Incentive:
Outstanding Performance Agreement Summary
Maintain on property,taxable personal property
owned by company valued at or above 50%of BPP
$14,375,324(Tax Threshold). tax paid in
excess of Tax
1/31/2019 Threshold. Paid
Maintain on property,taxable personal property
owned by company valued at or above
$14,375,324(Tax Threshold). 1/31/2020
Maintain on property,taxable personal property
owned by company valued at or above
$14,375,324(Tax Threshold). 1/31/2021
B. Employee Incentive:
Employ up to 45 full-time employees over 133
(Employee Threshold). One time payment of
$1,000 per new employee added. First $1,000/emp
Amendment- BPP valuation requirement waived over Paid -Incentive Obligation
(first year only). 12/31/2017 Threshold Fully Satisfied
Employ up to 45 full-time employees over 133 $1,000/emp
(Employee Threshold). One time payment of over
$1,000 per new employee added. 12/31/2018 Threshold n/a
Employ up to 45 full-time employees over 133 $1,000/emp
'(Employee Threshold). One time payment of ,over` Not to exceed$45,000
$1,000 per new employee added. 12/31/2019'Threshold total incentive.
Outstanding Performance Agreement Summary
SCSD-Finnell Obtain a building permit no later than 12/31/18;
!Commence construction of building no later than
12/31/18; Obtain CO no later than 8/31/19;
Complete qualified infrastructure no later than
8/31/19; and provide written notice,
accompanied by one or more permanent COs on
the building only. Provide documentation that
company has leased no less than 66%of the space
within the building to restaurants no later than
1/31/20 and no less than 3,800 sf to Fish'N'Tails
Oyster Bar; Company has completed qualified
infrastructure no later than 8/31/19 with a
minimum cumulative cost of$175,000;
8/31/2019 $87,500
Provide documentation that restaurant space
identified in Incentive No. 1 has been continuously
occupied and operated as an on-going business for
no less than 12 months.
1/31/2021 $87,500
Outstanding Performance Agreement Summary
Taylor&Son LLC
1.a Acquire title to property, submit site plan and
elevations for a commercial office building that is
no less than 3,500 sf, approval of plans by the City
of Wylie Historical Review Commission (HRC);
building permit no later than February 1, 2020;
Certificate of Completion (CC)for 3,500 sf
commercial office building no later than February
1, 2021; documentation supporting construction
cost of no less than $400,000; documentation
supporting construction of qualified infrastructure
of at least$104,500 no later than CC; current on
ad valorem taxes by 1/31 of year after assessed. 2/1/2021
1.b. Certificate of Occupancy(CO)for 1,750 sf no
later than February 1, 2022; current on ad valorem
taxes by 1/31 of the year after assessed. 2/1/2022
Hotel Occupancy Tax Receipts
2014 � 2015/ ` 2016 _ 2017 ` � _ ' 18 3019m
/
| |
January $q3qJ��8' $3,910.22 $3,96O.95 B,3GS�84 $8,848f9 $12,663.18
----- r ' ---- ' -�-----' —~ - --- -- +------------- - '
February 3j73.66/ 3,994.91 Si81OlB S/]1G.3S S�'6737 �B 13��486
--------- �'- ------- -------^- ' - - ' -- ' '�- ----'---'-|' ' --------
March 4SS9.63i S,3SO.71 6,8�6.25 S,757.4O 13,36D�D 13,391.72
-~__--____�_______'__--
April _ /i921_52 _S"119.S21O366J)4 __4`348.00. 1z�375.83' 13,313.00
NHa.. _ _ -- - _- - -� _ -___ _ ._______ ________-_
Jwnm / S,693.4O 6,182.22 8,812.3S� 6,605.05 17,191.21! 11,129.39
---- | ---------- ---�-----'---�' ---- -- ' � ---'- -
July ��1.�' �6�� �31��' � �O�� �S��3
- �___
August 5,242.99 5,279.J9 S,7G471 5,779.66 12373.93
-- ' T -------r - ' � 10,295.27
September / S,19�.7S 14,369106
--- -- - - ^---- --
Oo*mb�n ! 6,033.92 S,G6S.76 7,342.90 6,3O1.3U� 14,607.81
-- - � '---------- l -� �..........------------------------- -
�
November .87 Si168.76 7,054.65 5iO31.G2 14,489.92
'------'---7------- ' -~----' '-- - -- - - | - - � --------
0acenbmn_ 4,930.79 6,234.68 6,708.86 6,637.89 13,443.62
Total $59,175.49 63 � 3' $165,G06'19 $100,313.25
------ --------' '--------- 4� - -- � T'-- - ---�----------
* J Hotels reporting beginning in December 2017.
* Jure,July and August 2O19 represent 1of 2 hotels reporting. _
Active Environmental Program Tracking
Kirby - Former CRI Project Total: 105,113.53
Contract$121,150 910.00 11/30/17 Labor: Frank Clark, Michael Henn
788.00 12/31/17 Labor: Frank Clark, Clay Snider
Labor: Frank Clark, Michael Henn,Joshua Hopper, Samuel Lewis,
6,421.80 1/31/18 Trey Nelson, Clay Snider
Other Subcontractors: Laboratory, Supplies/Permits,Other
14,442.16 1/31/18 Subcontractors
11.16 1/31/18 Misc. Supplies
659.50 1/31/18 Vehicle / Equipment
Labor: Frank Clark,Trudy Hasan,Joshua Hopper,Samuel Lewis,Clay
2,005.30 2/28/18 Snider
874.00 2/28/18 Laboratory
519.50 3/31/18 Labor: Trey Nelson, Clay Snider
1,824.00 4/30/18 Subsurface Investigation-Labor: Clay Snider
Add'I Subsurface Investigation - Labor: Frank Clark,Joshua Hooper,
3,815.75 ' 4/30/18 Samuel Lewis,James Maxwell,Trey Nelson, Clay Snider
Subcontractors: Laboratory-$989; Drilling-$6,463;
12,385.33 4/30/18 Supplies/Permits/Regulatory Fees-$103.33; Other-4,830.
528.88 4/30/18 Vehicle / Equipment
Subsurface Investigation-Labor: Clay Snider,Samuel Lewis,Joshua
1,236.50 5/31/18 Harper, Frank Clark
264.50 5/31/18 Add'I Subsurface Investigation-Subcontractors: Laboratory
406.50 7/31/18 MSD- Project Management- Labor: Frank Clark, Clay Snider
648.50 7/31/18 VCP Application- Labor: Clay Snider, Holly Stockton
429.00 7/31/18 `DWS Labor: Trey Nelson, Clay Snider
636.00 7/31/18 MSD Application - Labor: Joshua Hooper
384.00 8/31/18' MSD- Project Management- Labor: Clay Snider
165.90 8/31/18 VCP Application- Labor: Frank Clark
212.00 8/31/18 DWS Labor: Joshua Hooper
2,539.50 8/31/18 MSD Application - Labor: Joshua Hooper,Samuel Lewis, Clay Snider
MSD Application Sub-contractors: Laboratory,Aerials/Maps/
2,052.91 8/31/18 Photos
Active Environmental Program Tracking
418.35 9/30/18 MSD-Project Management- Labor: Clay Snider
749.60 9/30/18 VCP Application- Labor: Frank Clark,Antonia Pachlczuk, Clay Snider
128.00 9/30/18 DWS Labor: Clay Snider
MSD Application - Labor: Joshua Hooper, Samuel Lewis,James
2,878.50 9/30/18 Maxwell,Trey Nelson, Clay Snider
58,967.14 Starting Point 632.00 9/30/18 APAR Labor: Trey Nelson
888.00 11/3/18 MSD-Project Management- Labor: Clay Snider
VCP Application- Labor: Clay Snider-$259; Overnight courier-
1,438.86 11/3/18 $29.86;TCEQ Application Fee-$1,150
189.50 11/3/18 MSD Application- Labor: Trey Nelson,Joshua Hooper
360.00 12/7/18. MSD Project Management
10.80 12/7/181 VCP Application &Agreement
2,351.90 12/7/18 Prepare MSD Application
804.00 2/22/19 Project Mgmt; Correspondence with TCEQ
1,725.66 2/22/19 Drinking Water Survey Report
4,553.05 2/22/19 Prepare MSD Application
79.80 4/11/19 Project Mgmt; Correspondence with TCEQ
3,165.10 4/11/19 Prepare MSD Application
142.20 4/11/19 Preapare APAR and Submite to TCEQ
1,345.50 4/11/19 VCP Investigation
705.60 5/9/19 Project Mgmt; Correspondence with TCEQ
388.50 5/9/19 Prepare MSD Application
798.50 5/9/19r___ Prepare APAR and Submit to TCEQ
7,279.13 5/9/19 VCP Investigation
1,850.05 7/9/19 Project Mgmt; Correspondence with TCEQ
705.00 7/9/19 Prepare MSD Application
10,328.55 7/9/191 Prepare APAR and Submit to TCEQ
3,659.82 7/9/191 VCP Investigation
1,614.37 8/8/19 Project Mgmt; Correspondence with TCEQ
1,486.00 ' 8/8/19 Prepare APAR and Submit to TCEQ
276.50 8/8/19 VCP Investigation
105,113.53
Spent Contracted
Active Environmental Program Tracking
Total
Expenditures: $105,113.53 $123,100
Regional Housing Permits
Wylie Lavon
11 12 13 14 15 16 17 18 19 11 12 13 14 15 16 17 18 19 ,
January 20 16 18 14 46 9 15 41 28 January 2 4 5 4 6 2 12 2 3
February 9 22 14 20 31 4 36 54 27 February 11 2 5 11 6 5 1 7 0
March 28 18 17 30 31 43 33 61 26 March 3 6 3 17 8 3 0 1 1
April 18 29 38 10 57 41 70 49 37 April 1 12 24 7 11 1 1 17 0
May 18 20 22 26 68 101 45 48 40 May 1 0 9 17 4 4 11 7 0
June 19 13 11 9 57 58 98 47 33 June 9 2 5 12 5 1 7 15 0
July 20 19 18 29 36 34 60 63 56 July 2 3 1 14 12 1 1 11 0
August ! 16 20 19 19 30 25 11 50 37 August 9 6 3 1 5 0 12 0 0
September 22 15 8 17 24 18 46 23 37 September 6 7 6 2 7 0 5 9 0
October 16 28 30 21 32 26 33 45 October 4 2 1 9 5 0 0 7
November 5 14 18 20 33 11 42 34 November 5 3 2 1 2 0 14 3
December 10 16 23 65 38 39 18 16 December 7 1 4 5 6 0 40 0
TOTAL 201 230 236 280 483 409 507 531 321 TOTAL 60 48 68 100 77 17 104 79 4
Murphy Sachse
11 12 13 14 15 16 17 18 19 11 12 13 14 15 16 17 18 19
January 4 7 26 13 1 12 5 0 0 January 14 8 13 18 14 16 4 15 6
February 3 14 4 5 5 4 2 6 0 February 3 11 8 29 17 31 15 9 5
March 9 6 6 8 4 5 4 0 3 March 9 12 1 13 24 31 23 5 4
April 8 10 23 1 3 8 1 0 24 April 8 4 13 17 12 24 15 2 1
May 11 14 7 7 2 2 0 0 10 i May 11 17 10 21 6 21 15 9 4
June 6 19 15 6 7 4 0 0 4 June 8 17 14 16 38 25 14 3 1
July 7 16 7 22 4 2 8 1 10 July 7 14 15 30 12 22 17 4 4
August 4 13 15 16 2 21 0 0 4 August 5 19 10 29 41 32 8 6 6
September 4 10 10 3 3 6 0 0 2 September 12 12 17 23 27 20 3 2 2
October 3 16 16 4 0 2 0 0 October 8 15 25 18 31 29 10 6
November 3 17 5 5 2 6 0 1 November 6 9 12 27 26 12 6 6
December 8 7 15 4 0 1 1 5 December, 7 10 11 39 12 11 2 3
TOTAL 70 149 149 94 33 73 21 13 57 TOTAL 98 148 149 280 260 274 132 70 33
Inspiration
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Tote;
15 5 12 10 6 17 13 14 4 13 8 5 11 118
16 10 19 11 9 7 13 40 8 14 13 18 2 164
17 10 12 26 29 18 30 16 17 20 14 19 18 229
18 30 27 29 24 23 35 18 13 8 14 31 9 261
19 4 9 15 16 5 5 5 4 63
ylie Econo ic 1 evelo • ent Cor • oration
E • - A * U
TO: WEDC Board of Directors
FROM: Sam Satterwhite, Executive Director
/7.
SUBJECT: Future Agenda Items
DATE: October 8, 2019
Issue
Discussion of issues to be placed on future WEDC Board Meeting agenda (no substantial
consideration/discussion allowed).
Analysis
During this Discussion Item, Board Members will have the opportunity to propose that an issue
be placed on a future agenda for consideration.
The Board will note that no substantial consideration/discussion is allowed so that there will not
be a violation of the Open Meetings Act which requires discussion/action items be placed on
Agendas with specific language as to what will be discussed. For example, the above language
will allow a Board Member to present a request for a certain item to be placed on an agenda for
consideration, but not the ability for the same Board Member to argue the merits of the issue.
Conversely, another Board Member may not discuss the merits as to why they may not want that
particular item on a future agenda.
Recommendation
This Item is for discussion only and will provide direction to Staff. No formal action is allowed.