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08-19-2020 (WEDC) Minutes Minutes Wylie Economic Development Corporation Board of Directors Meeting August 19, 2020— 8:30 A.M. 300 Country Club Road, Building#100 Wylie, TX 75098 CALL TO ORDER Announce the presence of a Quorum President Demond Dawkins called the regular meeting to order at 8:32 a.m. Board Members present were John Yeager,Melisa Whitehead, and Gino Mulliqi. Tim Gilchrist arrived at 8:45 a.m. Ex-officio member Assistant City Manager Renae' 011ie arrived at 8:32 a.m. WEDC staff present included Executive Director Jason Greiner, BRE Director Angel Wygant, and Senior Assistant Rachael Hennes. • INVOCATION&PLEDGE OF ALLEGIANCE Board Member Yeager gave the invocation and Board Member Whitehead led the Pledge of Allegiance. CITIZEN PARTICIPATION With no citizen participation,President Dawkins moved to Consent Agenda. CONSENT AGENDA All matters listed under the Consent Agenda are considered to be routine by the WEDC Board of Directors and will be enacted by one motion. There will not be separate discussion of these items. If discussion is desired, that item will be removed from the Consent Agenda and will be considered separately. A. Consider and act upon approval of the July 22, 2020 Minutes of the WEDC Board of Directors Meeting. B. Consider and act upon approval of the July 2020 WEDC Treasurer's Report. Board Action A motion was made by Melisa Whitehead, seconded by John Yeager, to approve the Consent Agenda as presented. A vote was taken, and the motion passed 4-0. ACTION ITEMS 1. Consider and act upon a Third Amended Promissory Note for American National Bank Loan 88193982. Staff Comments Staff referenced the July Board Meeting related to budget preparation for FY 21 and provided 111 details regarding the Third Amended Promissory Note to Loan 88193982. This loan was secured for the purpose of purchasing property located near the intersection of Highway 78Brown for redevelopment. The amendment provides for an interest rate reduction to 4% and interest-only payments through August 12, 2021. WEDC—Minutes August 19, 2020 Page 2 of 4 Board Action A motion was made by Gino Mulliqi, seconded by John Yeager, to approve a Third Amended Promissory Note for American National Bank Loan 88193982 and authorize the WEDC Board President to execute any and all necessary documentation to effectuate the Amendment.A vote was taken, and the motion passed 4-0. 2. Consider and act upon a First Amendment to the Performance Agreement between the WEDC and North Dallas Wylie Land Investors,LLC. Staff Comments Staff discussed the Performance Agreement between the WEDC and North Dallas Land Investors, LLC for the construction of an 8,000 square foot medical office. There was a delay in the start period of the project due to COVID-19 and North Dallas Land Investors requested a 6-month extension to the completion of the project. Staff has verified that permits were approved prior to the COVID-19 related delay and anticipates construction will begin shortly. The Amendment under consideration allows for a six-month extension to the eligibility requirements outlined in the Agreement. Board Action A motion was made by Gino Mulliqi,seconded by John Yeager,to approve a First Amendment to the Performance Agreement between the WEDC and North Dallas Wylie Land Investors providing for a 6-month extension to the eligibility expiration dates outlined in the Agreement, Section II(a, b, c, &d)due to delays attributable to COVID-19.A vote was taken, and the motion passed 4-0. 3. Consider and act upon a Performance Agreement between the WEDC and GDA Investments,LLC.—Series 53. Staff Comments Staff advised that last-minute information had been received and recommended that the Board Table this Item until the next Regular Board Meeting. Board Action A motion was made by John Yeager, seconded by Melisa Whitehead,to table Item 3 until further consideration. A vote was taken, and the motion passed 4-0. Board Member Gilchrist arrived at 8:45 a.m. and was present for discussion of Item 4. 4. Consider and act upon issues surrounding a Purchase and Sale Agreement between WEDC and McClure Partners Construction Company. Staff Comments Staff discussed the acquisition of properties at Highway 78/Brown and the process of working toward the redevelopment of the site since 2018. The proposed Purchase &Sale Agreement on the 1.74-acre corner lot is contingent upon the relocation of a 42" water line that will need to be completed by NTMWD prior to the start of the development. The water line is currently in the design stage and the developer will begin construction immediately upon the completion of the relocation. Board Discussion The Board discussed the necessary earnest money and clarified the requirements within the Agreement related to termination. The Board discussed the expectations concerning the timing of WEDC—Minutes August 19, 2020 Page 3 of 4 the waterline relocation. Staff explained that the relocation deadline per the Agreement is March 31, 2022, but staff anticipates completion by October 1, 2021. Staff discussed efforts to line up median improvements, deceleration lanes and TCEQ VCP with the timing of this project. Board Member Whitehead disclosed that the legal counsel representing McClure Partners is the same legal counsel that represents her employer. While she did not believe that a conflict existed, she opted to abstain from the vote out of an abundance of caution. Board Action A motion was made by Gino Mulliqi, seconded by John Yeager, to approve a Purchase and Sale Agreement between WEDC and McClure Partners Construction Company for the sale of a 1.74- acre property and further authorize WEDC President Dawkins to execute all documentation necessary to effectuate the transaction. A vote was taken, and the motion passed 4-0 with Whitehead abstaining and filing a conflict of interest form with staff. DISCUSSION ITEMS 5. Staff report: WEDC Property Update, Downtown Parking, upcoming events, WEDC Activities and Programs. Staff updated the Board regarding sales tax revenues for June, stating that revenues are up 14.63% over the same month last year. Staff displayed images of training opportunities made available to Wylie Fire Rescue and Wylie Police Department prior to demolition of WEDC-owned structures and updated the Board regarding the demolition process. Staff provided updated images of ongoing projects in Wylie and noted the grand opening of Collin College in September. Staff provided the Board with information related to the Sales Tax Workshop that will be available through TEDC. Staff noted that the 2020 TEDC Annual Conference and TEDC Basic will both be held virtually in October. Staff noted upcoming events including Manufacturing Day in October and Wylie Days in the Spring,noting that we will pivot as needed due to COVID-19. Staff is obtaining additional demolition quotes and handling a variety of code compliance issues on WEDC-owned properties. Staff informed the Board that plans have been sent for downtown parking improvements and more information will be provided as it becomes available. Staff discussed a potential Strategic Planning Workshop to be held in January and discussed website updates,video production,and branding/logo updates in the future.Staff is putting together a process for annual staff reviews and an Employee Handbook for the organization. EXECUTIVE SESSION Recessed into Closed Session at 8:59 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 &Brown • State Highway 78 &F.M. 544 • Cooper&F.M. 544 • Sanden &F.M. 544 • Jackson& Oak WEDC—Minutes August 19, 2020 Page 4 of 4 Section 551.074 (Personnel Matters) of the Local Government Code, Vemon's Texas Code Annotated (Open Meetings Act). • Evaluation of WEDC Director 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 2018-9b • Project 2018-9c • Project 2018-1Oc • Project 2019-12a • Project 2020-4a • Project 2020-7a President Demond Dawkins left at 10:10 a.m. during Executive Session and did not return. RECONVENE INTO OPEN MEETING Take any action as a result from Executive Session Vice President John Yeager reconvened into Open Session at 10:40 a.m. and the following action was taken: Board Action A motion was made by Gino Mulliqi,seconded by Tim Gilchrist,to move the Executive Director's car and phone allowance to his annual base salary. A vote was taken,and the motion passed 4-0. ADJOURNMENT With no further business,Vice President Yeager adjourned the WEDC Board meeting at 10:41 a.m. Demond Dawkins,President ATTEST: Jaso Gr finer, utive Director