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Wylie EDC authorized to seek $6.8 million loan, funded by future sales tax pledge
Summary
The council approved a Wylie Economic Development Corporation resolution authorizing a loan up to $6,800,500 to acquire development properties; the loan will be repaid from pledged future sales tax revenue and does not change the city property tax rate.
City council on Aug. 26 approved Resolution No. 2025‑18R authorizing the Wylie Economic Development Corporation (WEDC) to obtain a loan in the principal amount of $6,800,500 to acquire properties identified by the EDC for future development.
WEDC Executive Director Mr. Griner told council the board had approved the financing earlier and that the corporation is still negotiating purchases of two properties. The financing is…
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