01-07-2021 (WEDC) Agenda Packet • 4 4, NOTICE OF MEETING
ECONOMIC DEVELOPMENT CORPORATION
Regular Meeting Agenda
January 7, 2021 — 8:30 A.M.
Wylie Municipal Complex—Council Conference Room
300 Country Club Road, Building#100
Wylie, Texas 75098
Demond Dawkins President
John Yeager Vice President
Melisa Whitehead Secretary
Gino Mulligi Treasurer
Tim Gilchrist Board Member
Mayor Matthew Porter Ex-Officio Member
Chris Hoisted,City Manager Ex-Officio Member
Jason Greiner Executive Director
Angel Wygant BRE Director
Rachael Hermes 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: www.wylietexas.gov
within the required time frame.
CALL TO ORDER
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.
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 November 19, 2020 Minutes of the WEDC Board of
Directors Meeting.
B. Consider and act upon approval of the November 2020 WEDC Treasurer's Report.
ACTION ITEMS
1. Consider and act upon issues surrounding the disposition of WEDC property located at 201.
Industrial Court.
WEDC—Agenda
January 7, 2021
Page 2 of 3
2. Consider and act upon issues surrounding an existing Perfoliiiance Agreement between the
WEDC and WB Real Estate, LLC.
3. Consider and act upon issues surrounding an existing Performance Agreement between the
WEDC and First Miracle, Inc.
DISCUSSION ITEMS
4. Staff report: WEDC Property Update,Engineering Report,Upcoming Events,Annual Report,
WEDC Activities and Programs.
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.
§551.073—Discussing prospective gift or donation to the City.
§551.074—Discussing personnel or to hear complaints against personnel.
§551.076—Discussing deployment of security personnel or devices or security audit.
§551.087—Discussing certain economic development matters.
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 &Alanis
• State Highway 78 &Birmingham
• State Highway 78 & Brown
• FM 544 & Cooper
• Regency & Steel
Section 551.074 (Personnel Matters) of the Local Government Code, Vernon's Texas Code
Annotated(Open Meetings Act).
• Evaluation of WEDC Staff
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 2018-9b
• Project 2018-9c
WEDC—Agenda
January 7, 2021
Page 3 of 3
• Project 2020-7a
• Project 2020-1 la
• Project 2020-1 lb
• Project 2020-12a
RECONVENE INTO OPEN MEETING
Take any action as a result from Executive Session
ADJOURNMENT
CERTIFICATION
I certift that this Notice of Meeting was posted on this 31 sz day of December 2020 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.wylietexas.gov.
Stephanie Storm,City Secretary Date Notice Removed
Minutes
Wylie Economic Development Corporation
Board of Directors Meeting
November 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 8:30 a.m. Board Members present were
John Yeager,Melisa Whitehead, and Gino Mulliqi. Board Member Tim Gilchrist arrived at 8:36 a.m.
Ex-Officio Members Mayor Matthew Porter and City Manager Chris Holsted were present.
WEDC staff present included Executive Director Jason Greiner, BRE Director Angel Wygant, and Senior
Assistant Rachael Hermes.
INVOCATION &PLEDGE OF ALLEGIANCE
President Dawkins gave the invocation and 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 October 21, 2020 Minutes of the WEDC Board of
Directors Meeting.
B. Consider and act upon approval of the October 2020 WEDC Treasurer's Report.
Board Action
A motion was made by John Yeager, seconded by Gino Mulliqi, to approve the Consent Agenda
as presented. A vote was taken, and the motion passed 4-0.
ACTION ITEMS
Board Member Tim Gilchrist arrived during discussion of Item 1.
1. Consider and act upon the Project and Design Fees between Teague,Nall, and Perkins,Inc.
and the North Texas Municipal Water District for the relocation of a 42"water line at Hwy
78 &Brown.
Staff Comments
Staff referenced the Development Agreement that was entered into with NTMWD in May 2020 for
the relocation of the water line at Hwy 78 &Brown. The expenses have been outlined at this stage
in the process and the estimated costs have increased. Per terms of the Agreement, NTMWD
requires a letter of support and understanding of the projected costs and payment for the Project
and Design Fees with Teague,Nall, and Perkins,Inc. The Opinion of Probable Construction Costs
WEDC — Minutes
November 19, 2020
Page 2 of 4
(OPCC) outlines a cost of$1,122,000, which includes $938,448 plus a 20% contingency. Overall,
the OPCC and Project/Design Fees brings the adjusted budget for the water line relocation to
$1,308,680. Board Member Mulliqi discussed the impact that this increase could have on other
anticipated projects as well as the need to move forward with the water line relocation. Mayor
Porter noted that the value of the property is tied to completion of this project and commented that
sales tax numbers have remained healthy and will potentially help alleviate the burden of some of
the additional cost. Staff discussed overall expenses and cost estimates for capital projects in the
budget and the need to prioritize projects based on both the funds available and the timing of
projects.President Dawkins discussed moving forward with the necessary water line relocation and
revisiting the budget and priorities as needed. Staff noted that these decisions will be brought back
to the Board on a regular basis for their input and direction.
Board Action
A motion was made by Gino Mulliqi, seconded by John Yeager, to approve the Project and Design
Fees and further authorize the Executive Director to process payment to NTMWD in the amount
of$186,680. A vote was taken, and the motion passed 5-0.
2. Consider and act upon a Performance Agreement between the WEDC and American
Entitlements,LLC.
Staff Comments
Staff noted that this project had originally been presented to the Board back in 2019 and was taken.
for City Council approval in October 2020. This project will add nearly 40 full-time employees and
invest over$100,000 in the downtown district. The proposed Agreement is tied to job creation over
the base employment of seven employees and will outline an incentive of$1,000 per new FTE
position, with a maximum incentive of$33,000, payable over a three-year period. The Economic
Impact Analysis (EIA) indicates that the project will generate approximately $258,274 in overall
tax revenue over the next ten years. For every $1 that the WEDC invests, this business is investing
$7.82 in our community.
Board Action
A motion was made by Tim Gilchrist, seconded by Melisa Whitehead, to approve a Performance
Agreement between the WEDC and American Entitlements, LLC. Providing for a maximum
incentive of $33,000 and further authorizing the WEDC Executive Director to execute said
Agreement. A vote was taken, and the motion passed 5-0.
DISCUSSION ITEMS
3. Staff report: WEDC Property Update, Engineering Report, Downtown Parking, Upcoming
Events,WEDC Activities and Programs.
Staff provided an overview of Manufacturing Day 2020 activities and programs. Due to COVID,
staff coordinated with WISD to provide a virtual program, which ultimately resulted in a greater
number of students being able to participate. A Legacy Manufacturing Award was presented to
Raymond Cooper at the Chamber Workforce Webinar to recognize his contributions to the business
community in Wylie. Staff discussed the ability to use the national recognition of Manufacturing
Day to draw attention to local opportunities and manufacturers,while also highlighting partnerships
in the community. Mayor Porter expressed interest in the City partnering with WEDC for
Manufacturing Day 2021 to further broaden the program and include the adult workforce. Staff and
Board Member Gilchrist also noted the importance of keeping parents informed as it relates to the
viability of manufacturing opportunities and careers for the students.
WEDC — Minutes
November 19, 2020
Page 3 of 4
Sales tax revenues allocated in October for the August filing period were up nearly 11%. Sales tax
revenues allocated in November, filed in September, show an increase of nearly 25%.
Demolition estimates have been obtained for Commerce/Kirby/Industrial Ct. properties. Staff
discussed the option of demolishing structures and marketing sites for potential development or
waiting to redevelop sites later. Related to leased property, staff will tour facilities and review
compliance and leases in the corning months. Code concerns related to parking on Cooper Drive
seem to have been resolved with the installation of"No Parking" signs. Environmental review at
Hwy 78/Brown are in the final stages with TCEQ. Field work on Alanis is in process and the
property will be brush-hogged and cleaned up once the leaves have fallen. License agreements will
be drafted to allow construction staging for Ken Ross, Inc. on Cooper Drive and a contractor for
TxDOT has contacted WEDC for permission to stage off Kirby Drive. Mayor Porter advised
exercising caution and the Board agreed that a contract should be drafted to detail expectations and
limitations related to any potential use of WEDC-owned property. Staff advised that any License
Agreements would be drafted by the Attorney and brought back for review by the Board.Regarding
Downtown Parking, Staff is waiting on a draft of an ILA from Union Pacific and will provide it to
the City Manager when it is received. Staff will provide information to the Board regarding tours
of Collin College Technical Campus when dates and times are determined.
Staff informed the Board that Sales Tax Workshops are available through TEDC for the Board
and/or City Council. Staff noted that the WEDC Annual Report&Presentation will be provided to
City Council in January. Mayor Porter discussed a future work session involving the City Council,
Planning and Zoning Board, and WEDC Board to review and evaluate the Comprehensive Land
Use Plan.
Staff noted that the WEDC website and logo updates are in process. Staff will provide information
to the Board when filming for video production for downtown is scheduled. Annual reviews for
staff have been completed and final changes to the Employee Handbook will be made.
EXECUTIVE SESSION
Recessed into Closed Session at 9:31 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 & Alanis
• State Highway 78 & Birmingham
• State Highway 78 & Brown
• F.M. 544 & Cooper
• Regency & Steel
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 2018-9b
• Project 2019-3a
• Project 2020-9a
WEDC—Minutes
November 19, 2020
Page 4 of 4
• Project 2020-10a
RECONVENE INTO OPEN MEETING
Take any action as a result from Executive Session
President Demond Dawkins reconvened into Open Session at 10:22 a.m.
ADJOURNMENT
With no further business,President Dawkins adjourned the WEDC Board meeting at 10:22 a.m.
Demond Dawkins,President
ATTEST:
Jason Greiner,Executive Director
�a
ECONOMIC DEVELOPMENT PMENCORPORATION Wylie Economic Development
Board
AGENDA REPORT
Meeting Date: January 7,2021 Item Number: B
Department: WEDC (Staff Use Only)
Prepared By: Jason Greiner Account Code:
Date Prepared: 12/10/2020 Exhibits: 4
Subject
Consider and act upon approval of the November 2020 WEDC Treasurer's Report.
Recommendation
Motion to approve the November 2020 WEDC Treasurer's Report.
Discussion
Presented for the Board's review and approval is the November 2020 Treasurer's Report detailing the month
and year-to-date financial transactions and perfolivance against budget. In this report you will find the Revenue
and Expense Report, Statement of Net Position, Balance Sheet, and Sales Tax Report.
TRANSFERS:
$1,664.00 from Special Services to Insurance/General Liability
REVENUES:
Sales Tax Revenue earned in September, allocated in November,was $384,953.89, an increase of 24.85% over
the same period in 2019. Overall, FY20 saw a 12.08% increase in Sales Tax Revenue from the previous year.
EXPENSES:
Incentives
$250,000 Cross Development Reimbursement Incentive (1 of 1)
$87,500 SCSD-Finnell (2 of 2)
Engineering/Architecture
$30,504.42 Helmberger& Associates (Hwy 78 & Brown)
Infrastructure Projects
$186,680.00 NTMWD (Hwy 78/Brown Design Fees)
Page 1 of 1
Wylie Economic Development Corporation
MONTHLY FINANCIAL REPORT
November 30,2020
ANNUAL CURRENT PRIOR YEAR PO YTD BUDGET
YTD ACTUAL %OF BUDGET
BUDGET MONTH ADJUST. ENCUMBRANCE BALANCE
ACCOUNT DESCRIPTION FY 2020-2021 FY 2020-2021 FY 2020-2021 FY 2020-2021
REVENUE SUMMARY
CLAIM ON CASH/Bal Sheet $ 1,407,509.00 $ 1,560,831.49
SALES TAX $ 2,968,437.00 $ - $ - $ - $ - $ 2,968,437.00 0.00% A
ALLOCATED INTEREST EARNINGS $ 6,000.00 $ - $ - $ 73.37 $ - $ 5,926.63 1.22%
RENTAL INCOME $ 153,240.00 $ 3,735.00 $ - $ 10,320.00 $ - $ 142,920.00 6.73%
GAIN/LOSS-SALE OF PROPERTY $ 164,500.00 $ - $ - $ - $ - $ 164,500.00 0.00%
BANK NOTE PROCEEDS $ - $ - $ - $ - $ - $ - 0.00%
REVENUES $3,292,177.00 $ 3,735.00 $ - $ 10,393.37 $ - $ 3,281,783.63 0.32%
EXPENDITURE SUMMARY
PERSONNEL $ 336,516.00 $ 25,919.75 $ - $ 42,685.04 $ - $ 293,830.96 12.68%
OPERATING EXPENSES $ $5,/03.00 $ 7,617.16 $ - $ 12,255.13 $ 827.38 $ 43,620.49 23.07% B
INCENTIVES $ 1,130,310.00 $ 337,500.00 $ - $ 337,500.00 $ - $ 792,810.00 29.86%
SPECIAL SERVICES $ 85,451 U0 $ 3,723.39 $ - $ 4,686.49 $ 1,331.78 $ 82,462.73 6.80%
ADVERTISING $ 114,100.00 $ 3,020.00 $ - $ 3,020.00 $ 7,038.38 $ 104,041.62 8.82%
COMMUNITY DEVELOPMENT $ 44,550.00 $ 1,524.27 $ - $ 1,524.27 $ - $ 43,025.73 3.42%
TRAVEL&TRAINING $ 62,600.00 $ 805.90 $ - $ 805.90 $ - $ 61,794.10 1.29%
DUES&SUBSCRIPTIONS $ 30,018.00 $ 6,002.42 $ - $ 11,757.55 $ - $ 18,260.45 39.17%
AUDIT&LEGAL $ 33,000.00 $ 3,000.00 $ - $ 3,000.00 $ 267.15 $ 29,732.85 9.90%
ENGINEERING&ARCHITECTURAL $ 87,500.00 $ - $ - $ - $ 30,504.42 $ 56,995.58 34.86%
DEBT SERVICE $ 541,878.00 $ 50,733.93 $ - $ 101,012.77 $ - $ 440,865.23 18.64%
LAND $ - $ - $ - $ - $ - $ - 0.00%
INFRASTRUCTURE PROJECTS $ 1,005,000.00 $ 186,680.00 $ - $ 186,680.00 $ - $ 818,320.00 18.58%
FURNITURE&FIXTURES $ 2,500.00 $ 797.00 $ - $ 797.00 $ - $ 1,703.00 31.88%
CONTRA CAPITAL $ - $ - $ - $ - $ - $ - 0.00%
TOTAL EXPENDITURES $3,533,156.00 $ 627,323.82 $ - $ 705,724.15 $ 39,969.11 $ 2,787,462.74 21.11%
REV OVER/(UNDER) EXPEN $ (240,979.00) $ (623,588.82) $ - $ (695,330.78) $ (39,969.11) $ 494,320.89
A. SLSTX Rev earned in Sept,allocated in Nov,was$384,953.89,an increase of 24.85%over the same period in 2019.
Sales Tax received for all 12 months of FY due to 2 month accrual to prior FY.
B.Operating Expenses include Supplies,Maint Materials,Rental,Communication,Insurance and Utilities.
Wylie Economic Development Corporation
Statement of Net Position
As of November 30,2020
Assets
Cash and cash equivalents $ 1,562,890.69
Receivables $ 130,000.00 Note 2
Inventories $ 12,027,937.50
Prepaid Items $ -
Total Assets $ 13,720,828.19
Deferred Outflows of Resources
Pensions $ 134,955.55
Total deferred outflows of resources $ 134,955.55
Liabilities
Accounts Payable and other current liabilities $ 37,732.43
Unearned Revenue $ 40,200.00 Note 2
Non current liabilities:
Due within one year $ 374,845.78 Note 3
Due in more than one year $ 5,107,130.44
Total Liabilities $ 5,559,908.65
Deferred Inflows of Resources
Pensions $ (1,490.41)
Total deferred inflows of resources $ (1,490.41)
Net Position
Net investment in capital assets $ -
Unrestricted $ 8,297,365.50
Total Net Position $ 8,297,365.50
Note 1: Includes incentives in the form of forgivable loans for$70,000(Exco)
and$60,000(LUV-ROS)
Note 2: Exco amortization;deposits from rental property
Note 3: Liabilities due within one year includes compensated absences of$93,673
12-09-2020 03:15 PM CITY OF WYLIE PAGE: 1
BALANCE SHEET
AS OF: NOVEMBER 30TB, 2020
111-WYLIE ECONOMIC DEVEL CORP
ACCOUNT# TITLE
ASSETS
1000-10110 CLAIM ON CASH AND CASH EQUIV. 1,560,831.49
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 REC - 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 70,000.00
1000-14112 INVENTORY - MATERIAL/ SUPPLY 0.00
1000-14116 INVENTORY - LAND & BUILDINGS 12,088,145.50
1000-14118 INVENTORY - BAYCO/ SANDEN BLVD 0.00
1000-14310 PREPAID EXPENSES - MISC 0.00
1000-14410 DEFERRED OUTFLOWS 831,600.00
14,552,576.99
TOTAL ASSETS 14,552,576.99
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 ( 20.93)
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 1,291.64
2000-20131 EDWARD JONES DEFERRED COMP 0.00
2000-20132 EMP 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
12-09-2020 03:15 PM CITY OF WYLIE PAGE: 2
BALANCE SHEET
AS OF: NOVEMBER 30TH, 2020
111-WYLIE ECONOMIC DEVEL CORP
ACCOUNT# TITLE
2000-20201 AP PENDING 4,136.35
2000-20210 ACCOUNTS PAYABLE 0.00
2000-20530 PROPERTY TAXES PAYABLE 0.00
2000-20540 NOTES PAYABLE 831,600.00
2000-20810 DUE TO GENERAL FUND 0.00
2000-22270 DEFERRED INFLOW 39,000.00
2000-22275 DEF INFLOW - LEASE PRINCIPAL 0.00
2000-22280 DEFERRED INFLOW - LEASE INT 0.00
2000-22915 RENTAL DEPOSITS 1,200.00
TOTAL LIABILITIES 877,267.06
EQUITY
3000-34110 FUND BALANCE - RESERVED 0.00
3000-34590 FUND BALANCE-UNRESERV/UNDESIG 14,370,640.71
TOTAL BEGINNING EQUITY 14,370,640.71
TOTAL REVENUE 10,393.37
TOTAL EXPENSES 705,724.15
REVENUE OVER/(UNDER) EXPENSES ( 695,330.78)
TOTAL EQUITY & OVER/(UNDER) 13,675,309.93
TOTAL LIABILITIES, EQUITY & OVER/(UNDER) 14,552,576.99
12-09-2020 03:15 PM CITY OF WYLIE PAGE: 1
BALANCE SHEET
AS OF: NOVEMBER 30TB, 2020
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 DEF OUTFLOW TMRS CONTRIBUTIONS 37,244.29
1000-19051 DEF OUTFLOW SDBF CONTRIBUTIONS 472.00
1000-19075 DEF OUTFLOW - INVESTMENT EXP 37,954.48
1000-19100 DEF OUTFLOW - ACT EXP/ASSUMP 59,284.78
1000-19125 (GAIN)/LOSS ON ASSUMPTION CHG( 725.41)
1000-19126 DEF INFLOW SDBF CONTRIBUTIONS( 765.00)
133,465.14
TOTAL ASSETS 133,465.14
LIABILITIES
2000-20310 COMPENSATED ABSENCES PAYABLE ( 72,945.16)
2000-20311 COMP ABSENCES PAYABLE-CURRENT 93,673.00
2000-21410 ACCRUED INTEREST PAYABLE 8,803.17
2000-28205 WEDC LOANS/CURRENT 272,369.61
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 0.00
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 4,095,819.31
2000-28245 ANB LOAN/DALLAS WHIRLPOOL 640,776.23
2000-28247 JARRARD LOAN 174,168.89
2000-28250 CITY OF WYLIE LOAN 0.00
2000-28260 PRIME KUTS 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 262,947.17
2000-29151 SDBF LIABILITY 6,364.00
TOTAL LIABILITIES 5,481,976.22
12-09-2020 03:15 PM CITY OF WYLIE PAGE: 2
BALANCE SHEET
AS OF: NOVEMBER 30TH, 2020
922-GEN LONG TERM DEBT (WEDC)
ACCOUNT# TITLE
EQUITY
3000-34590 FUND BALANCE-UNRESERV/UNDESIG( 5,293,864.74)
3000-35900 UNRESTRICTED NET POSITION ( 120,264.00)
TOTAL BEGINNING EQUITY ( 5,414,128.74)
TOTAL REVENUE 0.00
TOTAL EXPENSES ( 65,617.66)
REVENUE OVER/(UNDER) EXPENSES 65,617.66
TOTAL EQUITY & OVER/(UNDER) ( 5,348,511.08)
TOTAL LIABILITIES, EQUITY & OVER/(UNDER) 133,465.14
Wylie Economic Development Corporation
SALES TAX REPORT
November 30, 2020
BUDGETED YEAR
DIFF % DIFF
MONTH FY 2017 FY 2018 FY 2019 FY 2020 19 vs. 20 19 vs. 20
DECEMBER $ 197,807.79 $ 184,848.59 $ 214,867.15 $ 226,663.94 $ 11,796.79 5.49%
JANUARY $ 196,347.26 $ 191,895.71 $ 223,749.61 $ 218,520.22 $ (5,229.39) -2.34%
FEBRUARY $ 276,697.76 $ 275,667.83 $ 307,366.66 $ 362,129.18 $ 54,762.52 17.82%
MARCH $ 191,647.73 $ 182,852.50 $ 208,222.32 $ 228,091.34 $ 19,869.03 9.54%
APRIL $ 168,844.20 $ 163,484.89 $ 182,499.53 $ 203,895.57 $ 21,396.05 11.72%
MAY $ 244,816.19 $ 203,707.17 $ 274,299.18 $ 289,224.35 $ 14,925.18 5.44%
JUNE $ 191,732.46 $ 199,412.29 $ 234,173.88 $ 239,340.35 $ 5,166.47 2.21%
JULY $ 223,570.59 $ 213,976.64 $ 215,107.94 $ 296,954.00 $ 81,846.06 38.05%
AUGUST $ 261,573.00 $ 249,589.63 $ 283,602.93 $ 325,104.34 $ 41,501.40 14.63%
SEPTEMBER $ 210,974.00 $ 213,425.79 $ 243,048.40 $ 259,257.89 $ 16,209.49 6.67%
OCTOBER $ 195,549.11 $ 210,701.71 $ 224,875.38 $ 249,357.02 $ 24,481.65 10.89%
NOVEMBER $ 267,816.13 $ 273,196.62 $ 308,324.41 $ 384,953.89 $ 76,629.48 24.85%
Sub-Total $ 2,627,376.22 $ 2,562,759.35 $ 2,920,137.37 $ 3,283,492.09 $ 363,354.72 12.08%
Total $ 2,627,376.22 $ 2,562,759.35 $ 2,920,137.37 $ 3,283,492.09 $ 363,354.72 12.08%
WEDC Sales Tax Analysis
$450,000
$400,000
$350,000
$300,000
$250,000
$200,000 2019
$150,000 is 2020
$100,000
$50,000
$0
O cue
"""Sales Tax collections typically take 2 months to be reflected as Revenue. SlsTx receipts are then accrued back 2 months.
Example:November SlsTx REVENUE in FY21 is actually September SlsTx and is therefore accrued back to FY20.
4
ECONOMIC DEVELOPMENT CORPORATION Wylie Economic Development
Board
AGENDA REPORT
Meeting Date: January 7, 2021 Item Number: 1
Department: WEDC (Staff Use Only)
Prepared By: Jason Greiner Account Code:
Date Prepared: 12/8/20 Exhibits:
Subject
Consider and act upon issues surrounding the disposition of WEDC property located at 201 Industrial Court.
Recommendation
Motion to award a contract to InterCon Demolition in the amount of $24,500 and further authorizing the
Executive Director to execute any and all necessary documents.
Discussion
The WEDC acquired 201 Industrial Court in December of 2016. The property has since been vacated and staff
is bringing this item back to the Board to consider and act upon the demolition of the property.
WEDC staff received a quote from Intercon Demolition in the amount of$24,500. Additionally, an asbestos
inspection has been completed, with no asbestos found, and the property is cleared for demolition.
Since demolition of this property was not budgeted in FY 21, a Mid-Year Budget Amendment will be necessary
to fund this demolition in the current fiscal year.
Page 1 of 1
ECONOMIC DEVELOPMENT CORPORATION Wylie Economic Development
Board
AGENDA REPORT
Meeting Date: January 7, 2021 Item Number: 2
Department: WEDC (Staff Use Only)
Prepared By: Jason Greiner Account Code:
Date Prepared: 12/11/20 Exhibits: 1
Subject
Consider and act upon issues surrounding an existing Performance Agreement between the WEDC and WB
Real Estate, LLC.
Recommendation
Motion to approve a First Amendment to the Performance Agreement between the WEDC and WB Real Estate,
LLC.
Discussion
As you will recall, WB Real Estate requested assistance from the WEDC specifically related to the unforeseen
costs associated with boring and excavating under Highway 78. The WEDC Board unanimously approved the
Qualified Infrastructure Reimbursement back on July 22, 2020.
At this time, the boring, excavating and installation of the utility line has been completed. However, the
contractors have not received final approval and acceptance from Oncor. WEDC Staff is recommending a 60-
day extension to the Performance Agreement to provide enough time for the WB Real Estate team to receive
formal written approval from Oncor.
If the WEDC Board prefers to take no action on this item, then Staff will notify WB Real Estate that they are in
default and ineligible to receive the $13,149 reimbursement incentive.
Page 1 of 1
FIRST AMENDMENT TO PERFORMANCE AGREEMENT
THIS FIRST AMENDMENT TO PERFORMANCE AGREEMENT (this "First Amendment"),is
entered into and is effective as of the 7th day of January, 2021 by and between WYLIE ECONOMIC
DEVELOPMENT CORPORATION, a Texas economic development corporation ("WEDC"), and WB
Real Estate, LLC, a Texas limited liability company(the"Company").
WITNESSETH:
WHEREAS, WEDC Board of Directors approved that certain Performance Agreement between
WEDC and Company on July 22,2020 to facilitate the development of a 1.445 acres,more or less,located
at 350 South Hwy 78,in the City of Wylie, Collin County, Texas(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 Qualified Infrastructure Deadline as defined in the Agreement is hereby modified to be
5:00 p.m.,Central Time,on March 1,2021 (the amended"Qualified Infrastructure Deadline"). In addition,
the Economic Assistance Termination outlined in the Agreement is hereby modified to March 1,2021.
3. Default. The WEDC's obligation to pay any portion of the Reimbursement Incentive to
Company WILL TERMINATE if Company defaults by not completing all of the Perfointance Obligations
by the Economic Assistance Termination herein amended.
4. Ratification. As expressly modified by this First Amendment, the Agreement is hereby
ratified and confirmed by WEDC and Company.
5. Counterparts; 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]
FIRST AMENDMENT TO PERFORMANCE AGREEMENT—Page 1
Project 2020-4d/WB Real Estate,LLC.
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:
COMPANY:
WB Real Estate, LLC, a Texas limited liability company
("Company").
By:
Name:
Title:
FIRST AMENDMENT TO PERFORMANCE AGREEMENT—Page 2
Project 2020-4d/WB Real Estate,LLC.
'9
ECONOMIC DEVELOPMENT CORPORATION Wylie Economic Development
Board
AGENDA REPORT
Meeting Date: January 7, 2021 Item Number: 3
Department: WEDC
(Staff Use Only)
Prepared By: Jason Greiner Account Code:
Date Prepared: 12/11/20 Exhibits: 1
Subject
Consider and act upon issues surrounding an existing Perfo,mance Agreement between the WEDC and First
Miracle, Inc.
Recommendation
Motion to approve a First Amendment to the Perfotniance Agreement between the WEDC and First Miracle,
Inc.
Discussion
As you will recall, First Miracle requested assistance from the WEDC specifically related to the installation of a
fire suppression system in their 4,626 square foot building located in Historic Downtown Wylie, more
specifically 101 N Ballard Avenue in Wylie, Texas. The WEDC Board approved a Performance Agreement
with First Miracle, Inc. on July 22, 2020.
At this time, the fire suppression system water lines and utility work has been completed. However, the
contractors mistakenly ordered and installed the wrong monitoring system. After discussing the issue with both
First Miracle and the Fire Marshal, staff believes that the correct system should be installed in the next few
weeks. Staff is recommending a 60-day extension to the Performance Agreement to allow additional time for
First Miracle, Inc. to receive the Final Fire Approval as required per the Agreement.
If the WEDC Board prefers to take no action on this item, then Staff will notify First Miracle that they are in
default and ineligible to receive the $11,800 reimbursement incentive.
Page 1 of 1
FIRST AMENDMENT TO PERFORMANCE AGREEMENT
THIS FIRST AMENDMENT TO PERFORMANCE AGREEMENT (this "First Amendment"),is
entered into and is effective as of the 7th day of January, 2021 by and between WYLIE ECONOMIC
DEVELOPMENT CORPORATION, a Texas economic development corporation ("WEDC"), and First
Miracle,Inc., a Texas corporation(the "Company").
WITNESSETH:
WHEREAS, WEDC Board of Directors approved that certain Performance Agreement between
WEDC and Company on July 22, 2020 to provide financial and/or economic assistance to plan and
construct certain infrastructure improvements for the Company's facility located at 101 N. Ballard Avenue
in the City of Wylie, Collin County, Texas(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 Final Inspection Deadline as defined in the Agreement is hereby modified to be 5:00 p.m.,
Central Time, on March 1, 2021 (the amended "Final Inspection Deadline"). In addition, the Economic
Assistance Termination outlined in the Agreement is hereby modified to March 1 2021.
3. Default. The WEDC's obligation to pay any portion of the Reimbursement Incentive to
Company WILL TERMINATE if Company defaults by not completing all of the Performance Obligations
by the Economic Assistance Termination herein amended.
4. Ratification. As expressly modified by this First Amendment, the Agreement is hereby
ratified and confirmed by WEDC and Company.
5. Counterparts; 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]
FIRST AMENDMENT TO PERFORMANCE AGREEMENT—Page 1
Project 2019-12c/First Miracle,Inc.
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:
COMPANY:
First Miracle, Inc, a Texas Corporation("Company").
By:
Name:
Title:
FIRST AMENDMENT TO PERFORMANCE AGREEMENT—Page 2
Project 2019-12c/First Miracle,Inc.
4 -4
ECONOMIC DEVELOPMENT CORPORATION Wylie Economic Development
Board
AGENDA REPORT
Meeting Date: January 7,2021 Item Number: 4
(Staff Use Only)
Department: WEDC
Prepared By: Jason Greiner Account Code:
Date Prepared: 12/30/20 Exhibits: 2
Subject
Staff report: WEDC Property Update, Engineering Report, Upcoming Events, Annual Report, WEDC Activities and
Programs.
Recommendation
No action is requested by staff for this item.
Discussion
Staff will lead a discussion regarding WEDC Properties,Engineering Reports,Upcoming Events,Annual Report,and an
overall review of issues surrounding WEDC Activities and Programs.
Page 1 of 1
P
ECONOMIC DEVELOPMENT CORPORATION
2021 January Board Meeting—7th&20th
Day Time Meeting/Event
CLOSED env years Ilya Elpliday
7 WEDC- Board Meeting(December)
12 WDMA Meeting-AW/JG
12 City Council—Joint Work Session & Executive Session
20 WEDC—Board Meeting
26 City Council—Annual Report, Work Session & Executive Session
2021 February Board Meeting-17tn
Day Time Meeting/Event
2 WDMA Meeting
9 City Council
12 Bisnow Reopening the Workplace- Virtual
17 WEDC—Board Meeting
20 WISD Education Foundation-Boots& BBQ- Virtual
22-26 TEDC Legislative Conference-Virtual
23 City Council
2021 March Board Meeting—17th
Day Time Meeting/Event
2 WDMA Meeting
8-12 Wylie ISD Spring Break
9 City Council
14-18 Wylie ISD College Week
15-16 IEDC Leadership Summit-Phoenix
17 WEDC—Board Meeting
23 City Council
Around the Corner...
• IAMC Spring Forum-April 24-28, 2021
• Small Business Week-May 2-8, 2021
• Economic Development Week-May 3-8, 2021
• ICSC RECon-moved to December 5-7, 2021
• Wylie Days& Collin County Days?
1/5/2021 Developer buys Collin County land for new$2 billion community with thousands of new homes
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BUSINESS>REAL ESTATE
Developer buys Collin County land for new $2
billion community with thousands of new
homes
MA Partners' Elevon development starts in early '21 in Lavern.
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1nm eentre Llevcn yrolect Is more than:1 500 acres and more titan 4.500 s:rt}te-'10n dy homes.(Lynda im Gonzalez i Taff
Protogra Lher)
f " o le
TOP BUSINESS STORIES
Cy Steve Brown Construction kicks off
6:00 AM nn Lzz.c 3!,2020 on Irving apartment
https://www.dallasnews.com/business/real-estate/2020/12/30/2-billion-Collin-county-community-will-have-thousands-of-new-homes/ 1/4
1/5/2021 Developer buys Collin County land for new$2 billion community with thousands of new homes
Listen to this article now community
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Engineering and design ''
A Dallas-based developer has acquired land in Collin County for a$2 billion residential and firm consolidates area
commercial project. office in Irving
MA Partners LLC plans more than 1,000 single-family homes in the first phase of its Elevon
Camille Keith,
community on State Highway 78 in the town of Lavon,which is east of Plano. Southwest's first female 'kla
executive,dies at 75
When completed,the entire Elevon development is designed for more than 4,50o homes,about
1,00o multifamily residences,an 8o-acre business park and more than 10o acres of mixed-use Dallas area added
construction. thousands of
construction jobs in'2o `
The first 3oo-acre phase will start construction in early 2021.Homes will sell at prices starting r `
in the mid $200,000S. American Airlines bans
emotional support
Arlington-based D.R.Horton will be one of the builders in the community,county records show. animals after years of
It's been the nation's largest homebuilder by volume since 2002. controversy over flying 1.
with pets
"Elevon is three years in the making from site selection and entitlement to the engineering of the
first phase of development,"said John Marlin,partner and CEO of the development firm."The
Wylie/Lavon submarket is an area of strong growth and we are excited to be part of shaping the
growth in this area."
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The Elevon plan includes a number of pocket parks,an extensive trail system,multiple amenity
centers and public school sites.The entire development will be more than 1,50o acres.
Dallas-based PMB Capital Investments provided some of the debt for the project,Collin County
records show.JBI Partners of Carrollton provided engineering,planning and architectural
services.
MA Partners has developed multiple projects in Dallas-Fort Worth,Austin and Houston.It
currently has almost 3,00o acres under development,with projects underway in Dallas,Fort
Worth and Melissa.
Its new project is in a suburban area that's seeing increased residential development.
"Wylie has been the most active market area and is now nearing build-out,"said Ted Wilson,
principal with Dallas-based housing analyst Residential Strategies."As a result,builders and
developers are now pushing out Highway 78 into the Lavon area.Lavon's annual start rate has
recently surged to over too units and likely will continue to grow in coming quarters."
Wilson said the area will see more big housing communities.
"MA Partners'new community,Elevon,is well located in the path of growth and will become a
top performer in the area,"he said."MA Partners has consistently produced master-planned
https://www.dallasnews.com/business/real-estate/2020/12/30/2-billion-Collin-county-community-will-have-thousands-of-new-homes/ 2/4
1/5/2021 Developer buys Collin County land for new$2 billion community with thousands of new homes
communities that have an aesthetically pleasing design,have excellent amenities and are well
executed."
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A ccnc motion�i an for the$2 binion Devon corm V in Laver,.(MA Pal tners)
}, [Dian imun�C,
a Steve Brown,Real Estate Editor.Steve covers commercial and residential real estate in Dallas-Fort
Worth.
44 Fw stevebrown(�dallasnews.corn 0 ,wrSteveBrownDMN
Get D-FW real estate news Real. Local. Journalism.
ti,t x `IN.., Get the latest real estate news from Steve Brown and the business staff at The Dallas Stand with us in our mission to
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