Economic Development Corporation Board Regular Meeting

Minutes Wylie Economic Development Corporation Board of Directors Meeting May 19, 2021— 8: 30 A.M. 300 Country Club Road, Building #100 Wylie, TX 75098 CALL TO ORDER Announce the presence ofa Quorum President Demond Dawkins called the regular meeting to order at 8: 35 a.m. Board Members present were John Yeager, Melisa Whitehead, Gino Mulliqi, and Tim Gilchrist. Ex- Officio Members Mayor Matthew Porter arrived at 8: 36 a.m. and City Manager Chris Holsted arrived at 8: 40 a. m. 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. COMMENTS ON NON -AGENDA ITEMS 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 ofDirectors and will be enacted by one motion. There will not be separate discussion ofthese items. Ifdiscussion is desired, that item will be removed from the Consent Agenda and will be considered separately. A. Consider and act upon approval of the April 21, 2021 Minutes of the WEDC Board of Directors Meeting. B. Consider and act upon approval of the April 2021 WEDC Treasurer' s Report. Board Action A motion was made by John Yeager, seconded by Tim Gilchrist, to approve the Consent Agenda as presented. A vote was taken, and the motion passed 5- 0. DISCUSSION ITEMS President Dawkins began with Item 2 for discussion purposes. 2. Staff report: WEDC Property Update, WEDC Office/ Insurance Claim, Engineering Report, FY21 Budget Process, Upcoming Events, and WEDC Activities/ Programs. Staff noted that sales tax revenue allocations were up 8% for April and 38% for May. Mayor Porter and the Board discussed the impact of increased cost of goods on sales tax revenues, as well as the potential impact of the ice storm and COVID- 19 restrictions being lifted. Rental income is up- to- date and scheduling will take place in the next 60- 90 days for demolition of the houses on E. Brown Street, with demolition anticipated 30 days following. The overall planning of the FM 544 property will impact the timing of notices that need to be sent out to tenants of properties that will be demolished at that location. Staff will be sure to coordinate timing appropriately. Staff discussed WEDC —Minutes May 19, 2021 Page 2 of 3 the possibility of facility tours for Wylie EDC/ City Council now that local facilities are opening back up, adding that Deanan Gourmet Popcorn had recently reopened and was featured on QVC. Staff will also go on -site to WEDC- owned facilities. Mowing of WEDC- owned properties has been impacted by recent rains and reduced workforce of the mowing company. License agreements for use of WEDC- owned property will be presented to the Board if/when they are requested. Staff discussed potential use of license agreements for the Birmingham lot. A survey has been ordered in effort to obtain an interlocal agreement with Union Pacific for parking near Downtown Wylie. Construction is complete from the recent flooding at the Wylie EDC offices. Final quotes for fumiture replacement will soon be received and reviewed. Cost estimates are being updated by our engineer, Randy Helmberger, for the utility work at FM 544 Gateway properties. Mr. Helmberger is also working with TxDOT for median improvements at Hwy 78 & Brown. A meeting is scheduled between staff and the developer for the corner lot at Hwy 78 & Brown, City of Wylie Engineering, and Helmberger to finalize the submission to TxDOT. Fieldwork on the Alanis property should be received soon and drainage issues and possible flood study at Steel/ Hooper will be discussed later. The HR Alliance Meeting was attended by several of the larger employers in the city and provided a good opportunity to discuss innovative HR practices. Staff discussed the significance of being in tune with local HR representatives. The Wylie ISD CTE Advisory Board featured a " signing day" to recognize and celebrate intemship opportunities for students and build awareness for local internships available. Board Member Mulliqi discussed the opportunity for a work program with Wylie ISD to benefit both the Local employers and the students. President Dawkins mentioned the opportunity to help identify businesses and facilitate the process, with Wylie ISD taking the lead on the program creation. Staff provided an overview of additional activities, including the State of the City/ Wylie ISD, Small Business Week, and Leadership Wylie. Future activities noted include the reception for outgoing Board/ Commission Members on June 2211d and a potential Wylie EDC Meeting on July 7th to finalize the budget prior to review by City Council. TEDC Sales Tax training can be attended in August virtually) or September ( Richardson, TX). ICSC " Here, We Go. 2021" will be held in December 2021 and ICSC RECon will be held in May 2022. EXECUTIVE SESSION Recessed into Closed Session at 9: 02 a.m. in compliance with Section 551. 001, et. seq. Texas Government Code, to wit: Sec. 551. 072. DELIBERATION REGARDING REAL PROPERTY; CLOSED MEETING. ES1. Consider the sale or acquisition of properties located at FM 544 and Cooper, Jackson and Oak, Regency and Steel, State Hwy 78 and Alanis, State Hwy 78 and Birmingham, State Hwy 78 and Brown. Sec. 551. 087. DELIBERATION REGARDING ECONOMIC DEVELOPMENT NEGOTIATIONS; CLOSED MEETING. ES2. 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- 2a, 2021- 2b, 2021- 4a, 2021- 4b, 2021- 4c, 2021- 4d, 2021- 5a, and 2021- 5b.  WEDC —Minutes May 19, 2021 Page 3 of 3 RECONVENE INTO OPEN SESSION Take any action as a resultfrom Executive Session. President Demond Dawkins reconvened into Open Session at 10: 11 a.m. and moved back to Item 1. DISCUSSION ITEMS 1. Discuss issues surrounding the FY 2021- 2022 WEDC Budget. Staff discussed the process of preparation for the new budget year while noting the figures from the April 2021 Monthly Financial Report, as these figures can be used to provide the most up-to- date estimates of the beginning fund balance for FY 21- 22. Staff discussed the audited beginning fund balance of $1. 735 million and current claim on cash of $2, 267, 824 as of April 30, 2021. In projecting, sales tax assumptions for the remainder of the year were kept flat and potential decrease in rental income due to demolition) and gain/ loss- sale of property (due to forgivable notes) were noted. Staff discussed the option for implementing intemships in the organization, with the addition of $10, 000 anticipated in expenses to Personnel should the Board be in favor of the opportunity in this fiscal year. The Board expressed support for $10, 000 being allocated for implementation of internships. Incentives were noted, with $ 300, 000 for future incentives not anticipated to be spent in this fiscal year. Travel and training opportunities impacted this past year resulted in $ 20, 000 anticipated to be unspent and Audit/ Legal expenses have come in under projections by $ 10, 000. The delay of the downtown alley project results in an additional $ 125, 000 that will not be spent in FY 20- 21. After reviewing the noted assumptions for the remainder of this fiscal year, staff highlighted the projected ending fund balance of $1, 296, 125. 1 Any sales tax revenues received over the flat projections in this fiscal year would be added to the projected ending fund balance. For FY 21- 22, Staff noted the possible addition of an administrative position. The Board requested additional information including a job description and salary metrics for their consideration. The Board discussed adding these projections and noting the potential for increased sales tax revenue when discussing options for loan restructuring for Wylie EDC. Staff noted that sales tax revenue projections into the next fiscal year would mirror those used by the City of Wylie. Staff stated that additional information regarding cost estimates for infrastructure and five-year projections related to Wylie EDC loans would be brought back to the Board. FUTURE AGENDA ITEMS Staff and President Dawkins noted that a New Board Member Handbook would be created and reviewed at a later date. ADJOURNMENT With no further business, President Dawkins adjourned the WEDC Board meeting at 10: 36 a.m. Demond Dawkins, President ATTEST: Jason remer, Execu ' e :: rector