WEDC News
EDC pic.jpg
December 14, 2018
WEDC Elects Officers and Sets New Meeting Dates/Times

 

Congratulations to the new WEDC board members:

George Alva

Pat Brown

Kevin Compton

Hob Cunningham

Rich Stimpson

John Fagin and

Jennifer Newman

The WEDC board met on September 13, 2018.  Here is a summary of the meeting.

Meeting dates/times.

The board voted unanimously to set the 3rd Wednesday of every month at 5:30 p.m. as the regular meeting time.

 

Presentations to the board.

WEDC Director Mario Hernandez provided an overview of Economic Development and WEDC history.

WEDC Attorney Joe Hoffer provided training on Texas Open Meetings Act, Public Information Act, and Policies, compliance and legal resource kit.

Election of officers.

President, Jennifer Newman (unanimous),

Vice President, George Alva (unanimous),

Secretary, Hob Cunningham (unanimous),

Treasurer, Pat Brown (unanimous).

Reconstituting board committees. 

(Planning and Special Projects) Tabled in order to receive pertinent information on the status of work performed by those committees. WEDC Director Mario Hernandez was asked to provide a status update at the next regularly scheduled meeting.

Current financials.

Municipal Finance Officer reported that the WEDC ended the 2018 FY with $657K cash on hand and ended November 2018 with $707K cash on hand. Recommended board action to move money to investments to increase interest yield if there are no major upcoming expenditures (tabled pending additional information on investment options).

WEDC events, conferences, and scheduling meeting dates/times. 

The board requested more information regarding benefits of attending conferences to network with businesses Windcrest would like to attract to our city.

Board policies.

No action was taken.

Bank, investment, and other account signature cards.

The board voted unanimously to remove all former board members as signatories from said accounts and to place Pat Brown, Mario Hernandez, and Jennifer Newman as new signatories on said accounts.

The board then went into executive session, and adjourned upon return to open session.  No action was taken during executive session.  The meeting adjourned at 6:33 p.m.

About our WEDC

The Windcrest Economic Development Corporation is a Type 4B entity formed under the Development Corporation Act of 1979.

The Development Corporation Act of 1979 gives cities the ability to finance new and expanded business enterprises in their local communities through economic development corporations (EDCs). Chapters 501, 504 and 505 of the Local Government Code outline the characteristics of Type A and Type B EDCs, authorize cities to adopt a sales tax to fund the corporations and define projects EDCs are allowed to undertake.

There are some limitations on how sales tax revenues can be used to fund a project. Eligible expenditures include:

  • acquisition of land;

  • machinery and equipment;

  • construction costs;

  • planning and professional services related to the project;

  • financial transactions and reserve funds; and

  • administrative and other necessary expenditures.

The main requirement is that the businesses bring new money into the community. In 2003, the Legislature voted to require that certain projects create or retain primary jobs. A primary job is one at a company that exports a majority of its products or services to markets outside the local region, infusing new dollars into the local economy. Primary jobs are further limited to specific industry sectors such as agriculture, mining, manufacturing and scientific research and development. Those industry limitations can be found in Local Government Code, Chapter 501.

EDCs cannot simply give sales tax proceeds to businesses. An EDC must enter into a written performance agreement with any business enterprise that it funds directly or makes expenditures that benefit an eligible project. At a minimum, the performance agreement must contain:

  • a schedule of additional payroll or jobs to be created or retained;

  • the capital investment to be made by the business enterprise; and

  • the terms for repayment of the EDC's investment if the business fails to meet the performance requirements specified in the agreement.

WEDC Operating Requirements

Read Windcrest's 2017 EDC Report by clicking on the button below.

Source: Texas Comptroller

City Council Appoints New WEDC Board

At its Special Meeting on December 3, 2018, Windcrest City Council appointed the following persons to the WEDC Board:

  

Hobson Cunningham

John Fagin

George Alva

Pat Brown

Rip Stimpson and
Jennifer Newman

With one exception, the City Council vote for the appointments was 4-1, with Greg Turner voting against the appointments.  George Alva was approved unanimously.

Mr. Fagin will serve as the interim presiding officer to call the Board's first meeting so it can elect officers and conduct other business.

We thank the outgoing WEDC Board members for their service to Windcrest, Texas and wish the new Board well in continuing the WEDC mission of attracting and retaining businesses for Windcrest.

WEDC Special Meeting on November 26, 2018

The Windcrest Economic Development Corporation called a Special Meeting on November 26, 2018, at 5:00 p.m., Windcrest City Hall in response to the City Council's vote on November 19, 2018, to remove the WEDC Board in its entirety.

During the meeting (former) WEDC Board Chair Sue Alexander characterized the City Council's recent unanimous vote to remove and replace the WEDC Board as "political retribution" and advised the citizens of Windcrest to watch what the new WEDC Board members do with the funds in WEDC coffers.  

 

Recently elected Windcrest City Council Member Greg Turner, who voted in favor of removing and replacing the WEDC Board, also spoke.  Mr. Turner asserted that he was "hoodwinked" into voting to remove and replace the WEDC Board because he was not prepared and is unfamiliar with Windcrest's boards and commissions.

Mr. Turner also admitted that he requested tabling of agenda items (including approval of the Windcrest Volunteer Fire Association Agreement and the Windcrest Ethics Policy) so he could familiarize himself with Windcrest's boards and commissions and read the City Charter.