07-08-2021 (WEDC) Agenda Packet Wylie Economic Development Corporation
Board Special Called Meeting EcoNom10EL . °"MON
July 8, 2021 —8:30 AM
Council Conference Room-300 Country Club Road,Building#100,
Wylie, Texas 75098
CALL TO ORDER
INVOCATION& PLEDGE OF ALLEGIANCE
COMMENTS ON NON-AGENDA ITEMS
Any member of the public may address Board regarding an item that is not listed on the Agenda. Members of the public must
fill out a form prior to the meeting in order to speak.Board requests that comments be limited to three minutes for an individual,
six minutes for a group.In addition,Board is not allowed to converse, deliberate or take action on any matter presented during
citizen participation.
DISCUSSION ITEMS
DS1. Discuss issues surrounding Wylie EDC loans.
DS2. Discuss issues surrounding the FY 2021-2022 Wylie EDC Budget.
EXECUTIVE SESSION
Sec. 551.072. DELIBERATION REGARDING REAL PROPERTY; CLOSED MEETING.
A governmental body may conduct a closed meeting to deliberate the purchase, exchange, lease, or value of real
property if deliberation in an open meeting would have a detrimental effect on its negotiating position.
ES 1. Consider the sale or acquisition of properties located at FM 544 and Cooper,Jackson and Oak,Regency
and Steel, State Hwy 78 and Ballard, State Hwy 78 and Birmingham, State Hwy 78 and Brown.
Sec. 551.074.PERSONNEL MATTERS; CLOSED MEETING.
(a) This chapter does not require a governmental body to conduct an open meeting:
(1)to deliberate the appointment, employment, evaluation,reassignment,duties,discipline,or dismissal of a public
officer or employee; or
(2)to hear a complaint or charge against an officer or employee.
(b)Subsection(a)does not apply if the officer or employee who is the subject of the deliberation or hearing requests
a public hearing.
ES2. Evaluation of WEDC Staff.
Sec. 551.087. DELIBERATION REGARDING ECONOMIC DEVELOPMENT NEGOTIATIONS;
CLOSED MEETING.
This chapter does not require a governmental body to conduct an open meeting:
Fake 11
(1) to discuss or deliberate regarding commercial or financial information that the governmental body has received
from a business prospect that the governmental body seeks to have locate, stay, or expand in or near the territory of
the governmental body and with which the governmental body is conducting economic development negotiations;
or
(2) to deliberate the offer of a financial or other incentive to a business prospect described by Subdivision(1).
ES3. Deliberation regarding commercial or financial information that the WEDC has received from a business
prospect and to discuss the offer of incentives for Projects: 2017-10a,2018-9b, 2020-11b,2021-2b,2021-4a,
2021-4b, 2021-4c, 2021-4d, 2021-5a, and 2021-6a.
RECONVENE INTO OPEN SESSION
Take any action as a result from Executive Session.
FUTURE AGENDA ITEMS
ADJOURNMENT
CERTIFICATION
I certify that this Notice of Meeting was posted on July 2, 2021 at 5:00 p.m. on the outside bulletin board at Wylie
City Hall, 300 Country Club Road, Building 100, Wylie, Texas, a place convenient and readily accessible to the
public at all times.
Stephanie Storm, City Secretary Date Notice Removed
The Wylie Municipal Complex is wheelchair accessible. Sign interpretation or other special assistance for disabled
attendees must be requested 48 hours in advance by contacting the City Secretary's Office at 972.516.6020.Hearing
impaired devices are available from the City Secretary prior to each meeting.
If during the course of the meeting covered by this notice, the Board should determine that a closed or executive
meeting or session of the 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 Board at the date, hour and place given in this
notice as the 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 sanctions and purposes:
Texas Government Code Section:
§ 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.
Page 12
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ECONOMIC DEVELOPMENT CORPORATION Wylie Economic Development
Board
AGENDA REPORT
Meeting Date: July 8, 2021 Item Number: DS 1
(Staff Use Only)
Department: WEDC
Prepared By: Jason Greiner Account Code:
Date Prepared: 7/6/21 Exhibits:
Subject
Discuss issues surrounding Wylie EDC loans.
Recommendation
No action is requested by staff for this item.
Discussion
Staff will present various loan options during the meeting.
Page 1 of 1
FY 2021-2022 Debt Service Detail
(as of July 7,2021)
Jarrard Loan#6088461(Payout Complete FY 26-27)
Payment No Due Date Interest Principal Total Payment Principal Balance
58 10/22/2021 $653.13 $2,456.02 $3,109.15 $ 171,712.87
59 11/22/2021 $643.92 $2,465.23 $3,109.15 $ 169,247.64
60 12/22/2021 $634.68 $2,474.47 $3,109.15 $ 166,773.17
61 1/22/2022 $625.40 $2,483.75 $3,109.15 $ 164,289.42
62 2/22/2022 $616.09 $2,493.06 $3,109.15 $ 161,796.36
63 3/22/2022 $606.74 $2,502.41 $3,109.15 $ 159,293.95
64 4/22/2022 $597.35 $2,511.80 $3,109.15 $ 156,782.15
65 5/22/2022 $587.93 $2,521.22 $3,109.15 $ 154,260.93
66 6/22/2022 $578.48 $2,530.67 $3,109.15 $ 151,730.26
67 7/22/2022 $568.99 $2,540.16 $3,109.15 $ 149,190.10
68 8/22/2022 $559.46 $2,549.69 $3,109.15 $ 146,640.41
69 9/22/2022 $549.90 $2,559.25 $3,109.15 $ 144,081.16
$7,222.07 $30,087.73 $37,309.80
Dallas Whirlpool Loan#88158357
Pymt No Due Date Interest Principal Total Payment Principal Balance
13 10/22/2021 $2,135.92 $18,113.11 $20,249.03 $622,663.12
14 11/22/2021 $2,144.73 $622,663.12 $624,807.85 $0.00 Balloon Payment of$624,807.85 due on 11/22/2021
$4,280.65 $640,776.23 $645,056.88
Brown&78 Loan#88193982
Payment No Due Date Interest Principal Total Payment Principal Balance
2 10/12/2021 $13,561.15 $28,020.51 $41,581.66 $ 4,040,324.96 Interest-Only Extension thru 8/12/21;First Full P&l Payment 9/12/2021
3 11/12/2021 $13,916.67 $27,664.99 $41,581.66 $ 4,012,659.97
4 12/12/2021 $13,375.53 $28,206.13 $41,581.66 $ 3,984,453.84
5 1/12/2022 $13,724.23 $27,857.43 $41,581.66 $ 3,956,596.41
6 2/12/2022 $13,628.28 $27,953.38 $41,581.66 $ 3,928,643.03
7 3/12/2022 $12,222.44 $29,359.22 $41,581.66 $ 3,899,283.81
8 4/12/2022 $13,430.87 $28,150.79 $41,581.66 $ 3,871,133.02
9 5/12/2022 $12,903.78 $28,677.88 $41,581.66 $ 3,842,455.14
10 6/12/2022 $13,235.12 $28,346.54 $41,581.66 $ 3,814,108.60
11 7/12/2022 $12,713.70 $28,867.96 $41,581.66 $ 3,785,240.64
12 8/12/2022 $13,038.05 $28,543.61 $41,581.66 $ 3,756,697.03
13 9/12/2022 $12,939.73 $28,641.93 $41,581.66 $ 3,728,055.10 Note matures 12-12-23.All unpaid P&1 of$3,324,347 due at that time.
$158,689.55 $200,587.93 $498,979.92
Interest Total FY 21-22 $170,192.27
Principal Total FY 21-22 $871,451.89
Debt Service Total FY 21-22 $1,041,644.16
Principal Balance at End of FY 21-22 $ 3,872,136.26
4 4 a
ECONOMIC DEVELOPMENT CORPORATION Wylie Economic Development
Board
AGENDA REPORT
Meeting Date: July 8, 2021 Item Number: DS2
(Staff Use Only)
Department: WEDC
Prepared By: Jason Greiner Account Code:
Date Prepared: 7/6/21 Exhibits:
Subject
Discuss issues surrounding the FY 2021-2022 Wylie EDC Budget.
Recommendation
No action is requested by staff for this item.
Discussion
Staff will discuss the FY 2021-2022 Wylie EDC Budget.
Page 1 of 1
•
The Wylie citizens, as authorized by the Texas State Legislature, created the Wylie Economic
Development Corporation (WEDC) via the passage of a half-cent sales tax increase in 1990. Funds
received by the WEDC are used solely to enhance and promote economic development within the Wylie
community.
BUDGET BUDGET BUDGET BUDGET
STAFFING 2018-2019 2019-2020 2020-2021 2021-2022
Executive Director 1.0 1.0 1.0 1.0
Director of Business Retention 1.0 1.0 1.0 1.0
Senior Assistant 1.0 1.0 1.0 1.0
Administrative Assistant 0.0 0.0 0.0 1.0
TOTAL 3.0 3.0 3.0 4.0
The primary objectives of the WEDC are to increase local employment opportunities while enhancing
and diversifying the City of Wylie's tax base. The WEDC currently employs three full-time staff members
to manage daily operations and reports directly to a 5-member Board of Directors appointed by the
Wylie City Council. Ex-Officio Members of the Board include the sitting Mayor and current City Manager.
Meetings typically occur on the third Wednesday of each month at 7:30 a.m. and on an as-needed basis
at WEDC offices located at 250 S. Highway 78.
The Wylie City Council provides oversight of the WEDC via approval of Bylaws, appointment of Board
Members, approval of annual budgets, review of monthly expenditures and project approval. The City
of Wylie Finance Department processes all financial functions of the WEDC and coordinates an annual
Financial Audit by an independent, third-party firm. While WEDC staff are City employees for the
purpose of participating in group insurance plans, WEDC staff reports directly to the WEDC Board of
Directors.
EC oar of irectors Current Appointment Ter Expires
Demond Dawkins, President 07/2021 06/2024
Melisa Whitehead, Secretary 10/2019 06/2022
Gino Mulliqi, Treasurer 07/2019 06/2022
Tim Gilchrist 07/2020 06/2023
Blake Brininstool 07/2021 06/2024
C °°" 0 F BUDGET COMPARISON FY 2022
111-WEDC
WEDC REVENUES
FY 2021 FY 2022 FY 2022 FY 2022 VARIANCE VARIANCE
BUDGET BASE PACKAGES PROPOSED $ %
40150 REV IN LEIU OF TAXES $0 $0 $0 $0 $0 0.00%
40210 SALES TAX $2,968,437 $3,789,966 $0 $3,789,966 $821,529 27.68%
TOTAL TAXES $2,968,437 $3,789,966 $0 $3,789,966 $821,529 27.68%
43518 380 ECONOMIC AGREEMENTS $0 $0 $0 $0 $0 0.00%
TOTAL INTERGOVERNMENTAL REVENUE $0 $0 $0 $0 $0 0.00%
46050 CERTIFICATE OF DEPOSIT $0 $0 $0 $0 $0 0.00%
46110 ALLOCATED INTEREST EARNINGS $6,000 $6,000 $0 $6,000 $0 0.00%
46140 TEXPOOL INTEREST $0 $0 $0 $0 $0 0.00%
46143 LOGIC INTEREST $0 $0 $0 $0 $0 0.00%
46150 INTEREST EARNINGS $0 $0 $0 $0 $0 0.00%
46160 LOAN REPAYMENT(PRINCIPAL) $0 $0 $0 $0 $0 0.00%
46210 BANK MONEY MARKET INTEREST $0 $0 $0 $0 $0 0.00%
TOTAL INTEREST INCOME $6,000 $6,000 $0 $6,000 $0 0.00%
48110 RENTAL INCOME $153,240 $132,240 $0 $132,240 ($21,000) -13.70%
48310 RECOVERY-PRIOR YEAR EXPEND $0 $0 $0 $0 $0 0.00%
48410 MISCELLANEOUS INCOME $0 $0 $0 $0 $0 0.00%
48430 GAIN/(LOSS)SALE OF CAP ASSETS $164,500 $2,601,116 $0 $2,601,116 $2,436,616 1,481.23%
TOTAL MISCELLANEOUS INCOME $317,740 $2,733,356 $0 $2,733,356 $2,415,616 760.25%
49160 TRANSFER FROM GENERAL FUND $0 $0 $0 $0 $0 0.00%
49325 BANK NOTE PROCEEDS $0 $0 $0 $0 $0 0.00%
49550 LEASE PRINCIPAL PAYMENTS(OFS) $0 $0 $0 $0 $0 0.00%
49600 INSURANCE RECOVERIES $0 $0 $0 $0 $0 0.00%
TOTAL OTHER FINANCING SOURCES $0 $0 $0 $0 $0 0.00%
TOTAL 111-4000 $3,292,177 $6,529,322 $0 $6,529,322 $3,237,145 98.33%
� °°" F BUDGET COMPARISON FY 2022
111-WEDC
WEDC
FY 2021 FY 2022 FY 2022 FY 2022 VARIANCE VARIANCE
BUDGET BASE PACKAGES PROPOSED $ %
51110 SALARIES $240,920 $286,558 $0 $286,558 $45,638 18.94%
51130 OVERTIME $0 $0 $0 $0 $0 0.00%
51140 LONGEVITY PAY $784 $729 $0 $729 ($55) -7.02%
51145 SICK LEAVE BUYBACK $0 $0 $0 $0 $0 0.00%
51160 CERTIFICATION INCENTIVE $0 $0 $0 $0 $0 0.00%
51170 PARAMEDIC INCENTIVE $0 $0 $0 $0 $0 0.00%
51210 CAR ALLOWANCE $0 $0 $0 $0 $0 0.00%
51220 PHONE ALLOWANCE $0 $0 $0 $0 $0 0.00%
51230 CLOTHING ALLOWANCE $0 $0 $0 $0 $0 0.00%
51260 MOVING ALLOWANCE $0 $0 $0 $0 $0 0.00%
51310 TMRS $37,464 $44,530 $0 $44,530 $7,066 18.86%
51410 HOSPITAL AND LIFE INSURANCE $36,369 $49,304 $0 $49,304 $12,935 35.57%
51415 EXECUTIVE HEALTH PLAN $0 $0 $0 $0 $0 0.00%
51420 LONG-TERM DISABILITY $1,373 $1,707 $0 $1,707 $334 24.33%
51440 FICA $14,986 $18,623 $0 $18,623 $3,637 24.27%
51450 MEDICARE $3,505 $4,355 $0 $4,355 $850 24.25%
51470 WORKERS COMP PREMIUM $305 $378 $0 $378 $73 23.93%
51480 UNEMPLOYMENT COMP(TWC) $810 $1,080 $0 $1,080 $270 33.33%
TOTAL PERSONNEL SERVICES $336,516 $407,264 $0 $407,264 $70,748 21.02%
52010 OFFICE SUPPLIES $5,000 $5,000 $0 $5,000 $0 0.00%
52040 POSTAGE AND FREIGHT $300 $300 $0 $300 $0 0.00%
52130 TOOLS/EQUIP(NON-CAPITAL) $0 $0 $0 $0 $0 0.00%
52810 FOOD SUPPLIES $6,100 $6,100 $0 $6,100 $0 0.00%
52990 OTHER $0 $0 $0 $0 $0 0.00%
TOTAL SUPPLIES $11,400 $11,400 $0 $11,400 $0 0.00%
54610 FURNITURE AND FIXTURES $0 $2,500 $0 $2,500 $2,500 0.00%
54630 TOOLS AND EQUIPMENT $0 $0 $0 $0 $0 0.00%
54810 COMPUTER HARD/SOFTWARE $5,500 $5,500 $0 $5,500 $0 0.00%
54910 BUILDINGS $0 $0 $0 $0 $0 0.00%
54990 OTHER $0 $0 $0 $0 $0 0.00%
TOTAL MATERIALS FOR MAINTENANCE $5,500 $8,000 $0 $8,000 $2,500 45.45%
56030 INCENTIVES $1,130,310 $1,043,973 $0 $1,043,973 ($86,337) -7.64%
56040 SPECIAL SERVICES $88,481 $118,156 $0 $118,156 $29,675 33.54%
56080 ADVERTISING $114,100 $129,100 $0 $129,100 $15,000 13.15%
56090 COMMUNITY DEVELOPMENT $44,550 $52,050 $0 $52,050 $7,500 16.84%
56110 COMMUNICATIONS $5,936 $6,400 $0 $6,400 $464 7.82%
56180 RENTAL $27,000 $27,000 $0 $27,000 $0 0.00%
56210 TRAVEL AND TRAINING $62,600 $74,600 $0 $74,600 $12,000 19.17%
56250 DUES AND SUBSCRIPTIONS $30,018 $39,810 $0 $39,810 $9,792 32.62%
56310 INSURANCE $4,467 $6,303 $0 $6,303 $1,836 41.10%
56510 AUDIT AND LEGAL SERVICES $33,000 $33,000 $0 $33,000 $0 0.00%
C °°" 0 F BUDGET COMPARISON FY 2022
111-WEDC
WEDC
FY 2021 FY 2022 FY 2022 FY 2022 VARIANCE VARIANCE
BUDGET BASE PACKAGES PROPOSED $ %
56570 ENGINEERING/ARCHITECTURAL $87,500 $87,500 $0 $87,500 $0 0.00%
56610 UTILITIES-ELECTRIC $2,400 $2,400 $0 $2,400 $0 0.00%
TOTAL CONTRACTURAL SERVICES $1,630,362 $1,620,292 $0 $1,620,292 ($10,070) -0.62%
57110 DEBT SERVICE $0 $0 $0 $0 $0 0.00%
57410 PRINCIPAL PAYMENT $342,015 $2,124,703 $0 $2,124,703 $1,782,688 521.23%
57415 INTEREST EXPENSE $199,863 $315,136 $0 $315,136 $115,273 57.68%
57710 BAD DEBT EXPENSE $0 $0 $0 $0 $0 0.00%
TOTAL DEBT SERVICE AND CAP.REPL $541,878 $2,439,839 $0 $2,439,839 $1,897,961 350.26%
58110 LAND-PURCHASE PRICE $78,540 $0 $0 $0 ($78,540) -100.00%
58120 DEVELOPMENT FEES $0 $0 $0 $0 $0 0.00%
58150 LAND-BETTERMENTS $0 $0 $0 $0 $0 0.00%
58210 STREETS AND ALLEYS $926,460 $2,175,000 $0 $2,175,000 $1,248,540 134.76%
58410 SANITARY SEWER $0 $0 $0 $0 $0 0.00%
58810 COMPUTER HARD/SOFTWARE $0 $0 $0 $0 $0 0.00%
58830 FURNITURE AND FIXTURES $2,500 $0 $0 $0 ($2,500) -100.00%
58910 BUILDINGS $0 $0 $0 $0 $0 0.00%
58995 CONTRA CAPITAL OUTLAY $0 $0 $0 $0 $0 0.00%
TOTAL CAPITAL OUTLAY $1,007,500 $2,175,000 $0 $2,175,000 $1,167,500 115.88%
59111 TRANSFER TO GENERAL FUND $0 $0 $0 $0 $0 0.00%
59190 TRANSFER TO THORUGHFARE IMPACT $0 $0 $0 $0 $0 0.00%
59430 TRANSFER TO CAPITAL PROJ FUND $0 $0 $0 $0 $0 0.00%
59990 PROJECT ACCOUNTING $0 $0 $0 $0 $0 0.00%
TOTAL OTHER FINANCING(USES) $0 $0 $0 $0 $0 0.00%
TOTAL 111-5611 $3,533,156 $6,661,795 $0 $6,661,795 $3,128,639 88.55%
TOTAL PERSONNEL EXPENSES $336,516 $407,264 $0 $407,264 $70,748 21.02%
TOTAL OPERATING EXPENSES $3,196,640 $6,254,531 $0 $6,254,531 $3,057,891 95.66%