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11-21-2008 (WEDC) Minutes Minutes Wylie Economic Development Corporation Board of Directors Meeting Friday, November 21, 2008 —3:30 P.M. Inwood National Bank—Conference Room 200 South Highway 78 —Wylie,Texas CALL TO ORDER Announce the presence of a Quorum President Fuller called the meeting to order at 3:30 p.m. Board Members present were: John Yeager, Mitch Herzog, and Chris Seely. WEDC staff present was Executive Director Sam Satterwhite and Administrative Assistant Gerry Harris. Ex-Officio Board Member City Manager Mindy Manson was present. Mayor Eric Hogue arrived at 3:52 p.m. CITIZEN PARTICIPATION There being no citizen participation, President Fuller proceeded to Action Items. ACTION ITEMS ITEM NO. 1 — Consider and Act Upon Approval of the October 17, 2008 Minutes of the WEDC Board of Directors Meeting. MOTION: A motion was made by John Yeager and seconded by Chris Seely to approve the October 17, 2008 Minutes of the WEDC Board of Directors Meeting. The WEDC Board voted 4 — FOR and 0—AGAINST in favor of the motion. ITEM NO. 2 — Consider and Act Upon Approval of the October, 2008 WEDC Treasurer's Report. President Fuller directed staff to request of Finance to attend the December WEDC Board meeting for a review of WEDC financials and general governmental accounting practices. Also, Board member Herzog requested that staff prepare an analysis of all outstanding WEDC notes in terms of outstanding principal and applicable interest rates. MOTION: A motion was made by Mitch Herzog and seconded by John Yeager to approve the October, 2008 WEDC Treasurer's Report. The WEDC Board voted 4—FOR and 0--AGAINST in favor of the motion. WEDC—Minutes November 21, 2008 Page 2 of 6 ITEM NO. 3 — (Motion to Remove from Table) Consider and Act Upon Issues Surrounding a Request for Assistance from Nicom Construction, Inc. MOTION: A motion was made by John Yeager and seconded by Mitch Herzog to remove Action Item No. 3 from the table. Staff reviewed with the Board that at the 10-17-08 Board meeting staff was directed to determine if any other properties would benefit from extension of a sewer line to the subject property. Nicom had requested assistance in the amount of$13,930 to bore under Regency Drive. Staff, with confirmation from the Engineering Department, determined that the sewer line extension in question will only serve the Nicom property located at 121 Regency Drive. The property to the north is already developed and the property to the south will be served by a sewer line within the Capital Drive right-of-way. Further, staff determined that the cost to extend the sewer line across Regency was only$6,500 with the balance being the on-site extension of water and sewer lines. Staff recommended that the WEDC Board of Directors deny a request from Nicom Construction for assistance associated with extension of a sewer line. MOTION: A motion was made by John Yeager and seconded by Mitch Herzog to deny a request from Nicom. The WEDC Board voted 4 — FOR and 0 — AGAINST in favor of the motion. ITEM NO. 4 — Consider and Act Upon Issues Surrounding the Meeting Time of WEDC Board Meetings. Staff suggested that based upon Board personnel changes and to perform a review of meeting time policies, the Board review existing meeting time and date for Regular Board Meetings. The WEDC Board of Directors currently meets on the third Friday of each month at 6:00 a.m. at Inwood National Bank. Staff indicated that there is no statutory requirement for WEDC meeting times in the governing legislation, WEDC By-laws, or the City Charter. Staff reviewed a history of Board Meeting times which has predominately been prior to 8:00 a.m. Staff had no recommendation. Board member Mitch Herzog stated a preference to have the meeting time moved to 6:30 a.m. or 7:00 a.m. President Fuller and Board member Yeager preferred a 6:30 a.m. start time as well. MOTION: A motion was made by Mitch Herzog and seconded by John Yeager to maintain the third Friday of each month as the Regular Board Meeting date and change the regular meeting time from 6:00 a.m. to 6:30 a.m. The WEDC Board voted 4—FOR and 0—AGAINST in favor of the motion. WEDC—Minutes November 21, 2008 Page 3 of 6 ITEM NO. 5 — Staff Update: Review Staff Activities Surrounding Woodbridge Crossing, the WEDC 2008 Annual Report, Retail Activities by Greenway Investments, 2009 ICSC Conference May 17th — 20th, Lease of Facilities Owned by WEDC on Industrial Court, Retail Activities within Shafer Plaza, 2008 WEDC Invitational, ICSC — San Antonio, and Collin County Day February 9— 10,2009. Woodbridge Crossing: Direct Development is in negotiations with a second anchor to replace the previously withdrawn Kohl's project. Direct Development should be informed by the end of November whether the project received committee approval. Staff will update the Board upon receiving notice from Direct Development. WEDC Annual Report: Section 4.04, Subsection 4(a) states that the Wylie Economic Development Corporation shall make a detailed report to the City Council once each year. Such report shall include,but not be limited to, the following: 1. A review of all expenditures made by the Board in connection with their activities involving direct economic development as defined in this article, together with a report of all other expenditures made by the Board. 2. A review of the accomplishments of the Board in the area of direct economic development. 3. The policies and strategy followed by the Board in relation to direct economic development together with any proposed changes in such activities. 4. A review of the activities of the Board in areas of endeavor other than direct economic development together with any proposed changes in such activities. 5. The annual required report shall be made to the City Council no later than January 31 of each year. 6. The annual report shall be considered by the City Council for its review and acceptance. Staff provided an outline of the Annual Report with the areas of activity to be addressed. Staff is requesting that the Board review the outline for completeness and inform staff of any omissions. The first draft of the report will be presented to the Board on December 19th with the final draft to be approved January 16, 2009. The City Council will consider the report for its review and acceptance on January 26, 2009. Greenway Investments: WEDC Counsel Randy Hullett is scheduled to receive the first draft of the amendment to the Ad Valorem Tax Abatement and Sales Tax Reimbursement Agreement. Greenway had requested approval of the amendment in 2008, but with the delay in receiving the first draft, staff believes approval will be sought from the Board and Council in January/February. WEDC—Minutes November 21, 2008 Page 4 of 6 2009 ICSC Annual Conference: As indicated via email, prior to December 3 rd staff will be registering WEDC Board members to attend the ICSC Annual Conference in Las Vegas on May 17th— 20 . Mayor Eric Hogue and the WEDC Executive Director registered for the conference in June. Board members expressing interest in attending were Mr. Herzog and Mr. Seely. Industrial Court Lease Facilities: While the Cazad, Prime Kuts, and one of the Hughes facilities remain vacant, staff is seeing an increase in inquiries over the past 10 days. Mr. Anderson is continuing to remove the refrigeration equipment from the Prime Kuts facility. Staff has authorized the additional time for removal based upon the slow market for lease facilities. The WEDC continues to retain $5,000 in escrow from Mr. Anderson to ensure all equipment is removed to the satisfaction of the WEDC. Shafer Plaza: Staff updated the Board in regards to a meeting with Jakes Restaurant. Jakes has 4 locations in the metroplex and specializes in burgers and sandwiches. Jakes has a full service bar with outside seating. Jakes is performing its due diligence of the Shafer pad site adjacent to Starbucks. 2008 WEDC Invitational: The WEDC Invitational was a great success. With 67 individuals participating in the golf outing and 75 attending dinner, staff is pleased with the interaction between the WEDC/City of Wylie officials and the local/regional business community. Businesses represented at the event were Direct Development, Henry S. Miller, Shafer Properties, Greenway Investments, Jakes Hamburgers, Burger KinglPopeye's, Extruders, Carlisle, Southern Fastening Systems, Expedition Capital Partners, Holland Hitch, Richard Parker Inc., Oncor, BBV Texas, Glenn Brothers Meats, Global Innovation, American National Bank, Inwood National Bank, Commonwealth Land Title, FEC Electric, Gallagher Construction, Lutz Woodworking, RLK Engineering, Teague Nail & Perkins, Intercon Demolition, American Restoration, Birmingham Land Trust, Engineering Concepts, General Transformer, Herzog Development Corporation, and CPI Communication. ICSC — San Antonio: Board member Seely and Staff attended the ICSC Conference in San Antonio during October 29th — 31 St. The WEDC met with officials from Direct Development, The Weitzman Group, Henry S. Miller, Mark R. Smith Company, Greenway Investments, LA Fitness, CVS, Expedition Capital Partners, The Retail Connection, and Burk Collins & Company. Collin County Day: Collin County Day will be held February 9 — 10, 2009. This event is typically well attended by the Wylie community but did fall off in attendance in 2007. Mr. Craig Kelly is coordinating the event for the City of Wylie. Staff has made hotel arrangements for the Board in Austin for Sunday the 8th and Monday the 9th. Staff will update the Board as more information is received from Mr. Kelly. No action was requested by staff for this item. WEDC—Minutes November 21, 2008 Page 5 of 6 EXECUTIVE SESSION The WEDC Board of Directors convened into Executive Session at 4:16 p.m. President Fuller noted for the record that no action would take place in Executive Session. I. Consider and Act Upon Issues Surrounding the Deliberation and Evaluation of Outgoing Board Member Merrill Young and Appointment of Member to Vacant Seat as Authorized in Section 551.074 (Personnel Matters) of the Local Government Code, Vernon's Texas Code Annotated (Open Meetings Act). II. Consider and Act Upon Issues Surrounding the Provision of Economic Assistance and the Purchase of Real Property for Project 2019 as Authorized in Section 551.087 (Economic Development Negotiations) and in Section 551.072 (Real Property) of the Local Government Code, Vernon's Texas Code Annotated (Open Meetings Act). RECONVENE INTO OPEN MEETING The WEDC Board of Directors reconvened into open session at 7:45 a.m. Action taken from Executive Session: I. President Fuller asked that the Board recognize Mr. Young for his many years of service to the Wylie Economic Development Corporation. The Board directed staff to convey to the Wylie City Council its desire that the new appointee to the Board not be a sitting Council member. While there has been an informal policy of a sitting Council member filling one seat on the WEDC Board, it was believed that there could be an inherent conflict with Council appointing Board members that have a vote at the Council level over the appointment of other Board members. The WEDC Board believed that there exist multiple checks and balances for formal and informal communication between the WEDC and Council, thus not requiring a voting member on the Board. MOTION: A motion was made by Chris Seely and seconded by Mitch Herzog to formally accept the resignation of WEDC Board Member Merrill Young and to request that the Wylie City Council appoint an individual to fill the unexpired term of Mr. Young, with specific emphasis on that individual not being a sitting Council member. The Board voted 4 — FOR and 0 -- AGAINST in favor of the motion. II. No action was taken as a result of discussion surrounding Executive Session Item II. ITEM NO. 6—Consider and Act Upon Issues Surrounding the Election of WEDC Officers. On November 12, 2008, Merrill Young resigned from the WEDC Board of Directors. Board member Young held the position of WEDC Vice President. WEDC Minutes November 21, 2008 Page 6 of 6 Current officers of the WEDC are: Marvin Fuller President Vacant Vice President Mitch Herzog Secretary John Yeager Treasurer Staff recommended that the WEDC Board of Directors reevaluate the existing WEDC officers while filling the vacant position of Vice President. MOTION: A motion was made by Mitch Herzog and seconded by Chris Seely to appoint John Yeager as Vice President of the WEDC Board of Directors, Chris Seely as Treasurer, and President Marvin Fuller and Secretary Mitch Herzog retaining their positions on the Board. The Board voted 4 — FOR and 0—AGAINST in favor of the motion. ADJOURNMENT With no further business, President Marvin Fuller adjourned the WEDC Board meeting at 4:46 p.m. Marvin Fuller, President ATTEST: rn Samuel D.R. Satterwhite Executive Director