Minutes  Wylie Economic Development Corporation Board ofDirectors Regular Meeting June 19, 2024 - 7:30A.M. WEDC Offices - Conference Room 250 SJ Hwy 78 - Wylie, TX 75098  CALLTOORDER Announce the presence ofa Quorum Brininstool and Demond Dawkins.  President Melisa Whitehead called the meeting to order at 7:32 a.m. Board Members present were Blake  Ex-Officio Members Mayor Matthew Porter and City Manager Brent Parker were present.  WEDC staff present included Executive Director Jason Greiner, Assistant Director Rachael Hermes, BRE Director Angel Wygant, Administrative Assistant Marissa Butts, and Marketing & Communications  Coordinator Willl Kelly.  INVOCATION & PLEDGE OF ALLEGIANCE COMMENTS ONI NON-AGENDA ITEMS  Rachael Hermes gave the invocation and led thel Pledge of Allegiance.  With no citizen participation, President Whitehead: 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 a. separate discussion ofthese items. Ifdiscussion is desired, that item will be removedj from the Consent Agenda and will be consideredseparaleh. A. Consider and act upon approval of Minutes from May 15, 2024, Regular Meeting of the  WEDC: Board ofDirectors.  B.  Consider and act upon approval of thel May 2024 WEDC' Treasurer's Report.  Board Action  AI motion was made by Blake Brininstool, seconded by Demond Dawkins, to approve the Consent  Agenda as presented. A vote was taken, and the motion passed 3-0.  REGULAR AGENDA  1. Consider and act upon construction services for Cooper Plaza at Hwy 78 & Brown.  Staff Comments  Staff reminded thel Board that the WEDC has been working toward the redevelopment ofHwy 78 & Bowns since 2018. Additional information and thet two bids that havel been submitted willl be discussed further in] Executive Session and the Board will consider this item after Executive Session.    WEDC-1 Minutes June 19, 2024 Page 2of3  2. Consider and act upon issues surrounding the construction service at Hwy 78 & Brown with  Reeder Concrete Inc. Staff Comments  Staff reminded the Board that the WEDC awarded a bid for the Hwy 78 & Brown construction services related to TxDOT improvement to. Reeder Concrete Inc. int the amount of $1,038,487.75 on March 1,2024. Due to a discrepancy between the construction plans and the legend regarding lime and asphalt, Reeder has provided Change Order No. I in the amount of $212,506.20. Reeder originally bid for 6" lime subgrade, however, TxDOT requires that 12" of lime be installed, which adds the need for an additional 6" ofl lime and 2" ofa asphalt. Staffnoted that there might be an option to modify with flex base versus lime. Ifso, the cost would be less than the proposed Change Order  No. 1, as it represents the maximum cost to correct the issue.  Board Action  Ar motion wasi made by Demond Dawkins, seconded by Blake Brininstool, tos approve Change Order No. 1 with Reeder Concrete Inc. and further authorize the Executive Director to execute any and all  necessary documents. A vote was taken, and the motion passed 3-0.  DISCUSSION! ITEMS  DS1. Discuss issues surrounding thel FY 2024-2025 WEDC Budget.  StaffComments  Staff discussed thel FY 24-25 WEDC. Budget process and provided a high-level overview ofFY23- 241 revenues and expenses in order to project the ending fund balance for the year. For this FY, Staff anticipates an ending fund balance of $8.41 MM. Sales tax revenue. is projected toi increase by 10% at $4.9 MM. Staff discussed the process of forecasting expenses for the installation ofi infrastructure, the timing of the sale of WEDC properties, and anticipated expenses related to the engineering for projects, noting that some items will be carried over to the next year. Staffreviewed the anticipated revenues and expenditures for FY: 24-25, with ana anticipated FY25 ending fund balance of$1.9MM. Staff will continue to evaluate the remaining costs related to infrastructure in this current FY and adjust the anticipated ending fund balance as needed. The Budget Committee discussed the budget process, the addition ofshared technology software with the City of Wylie in FY25, and the need to be aware of potential additional costs due to the number of infrastructure projects active. Staff discussed the partnership with the Chamber ofCommerce and noted that the Budget Committee did not make a recommendation to increase any partnership levels with the Chamber of Commerce. DS2. Staff report: WEDC Property Update, Temporary Access Agreements, Downtown Parking,  Further budget review will take place with City Council on July 9, 2024. Engineering Report, Upcoming Events, and WEDC. Activities/Programs.  Staff Comments  Staffreferredi thel Board tot the Agenda Report providedi in thej packet fora all updates related to WEDC Property Update, Temporary Access Agreements, Downtown Parking, Engineering Report, Upcoming Events, and WEDC Activities/Programs. Regarding past events, Staff and the Board commented and shared their experience and the importance of attending ICSC Las Vegas.  EXECUTIVE SESSION    WEDC - Minutes June 19, 2024 Page 3 of3  Recessed into Closed Session at 8:08 a.m. in compliance with Section 551.001, et. seq. Texas Government Sec. 551.072. DELIBERATION REGARDING REALI PROPERTY; CLOSED MEETING. ES1. Consider the sale or acquisition of properties located at Brown/Eubanks, FM 544/Cooper, Sec. 551.087. DELIBERATION REGARDING ECONOMICI DEVELOPMENT NEGOTIATIONS; ES2. Deliberation regarding commercial or financial information that the WEDC has received from a business prospect and to discuss the offer ofi incentives for Projects: 2022-1c, 2022- 10c, 2023-1c, 2023-2d, 2023-5c, 2023-9b, 2023-11b, 2024-1c, 2024-2d, 2024-4c, 2024-4e, and  Code, to wit:  FM 544/Sanden, Jackson/Oak, Regency/Steel, and State Hwy 78/Brown.  CLOSED MEETING.  2024-5a.  RECONVENE INTO OPEN SESSION Take any action as ai result oft the Executive Session.  President Whitehead reconvened into Open Session at 8:46 a.m. and thel Board took the following action:  Board Action  A: motion was made by Blake Brininstool, seconded by Demond Dawkins, to award the contract to McMahon Contracting LP in the amount of $7,734.798.17 and further authorize the Executive Director to execute any and all necessary documents. A vote was taken, and the motion passed 3-0.  FUTURE AGENDA ITEMS  There were: no. Items requested fori inclusion on future agendas.  ADJOURNMENT  With no further business, President Whitehead adjourned the WEDC Board meeting at 8:46a.m.  LL WLI2 Melisa Whitehead, President  96 Director