Agenda Packet EDC 4B 07/18/2016
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Economic Development Corporation 4BPage 1 of 21July 18, 2016
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Economic Development Corporation 4BPage 2 of 21July 18, 2016
Town of Trophy Club 100 Municipal Drive
Trophy Club, Texas 76262
Legislation Details (With Text)
File #:2016-403-T Version:1 Name:
Type:Agenda Item Status:Public Hearing
File created:7/8/2016 In control:Economic Development Corporation 4B (EDC 4B)
On agenda:7/18/2016 Final action:
Title:A Public Hearing regarding the proposed EDC 4B operating budget for the fiscal year 2016-2017.
Attachments:
DateVer.Action ByActionResult
A Public Hearing regarding the proposed EDC 4B operating budget for the fiscal year 2016-2017.
Economic Development Corporation 4BPage 3 of 21July 18, 2016
Town of Trophy Club 100 Municipal Drive
Trophy Club, Texas 76262
Legislation Details (With Text)
File #:2016-404-T Version:1 Name:
Type:Agenda Item Status:Regular Session
File created:7/8/2016 In control:Economic Development Corporation 4B (EDC 4B)
On agenda:7/18/2016 Final action:
Title:Discuss and take appropriate action regarding the proposed EDC 4B operating budget for the fiscal
year 2016-2017.
Attachments:EDC Budget 2016_2017.pdf
DateVer.Action ByActionResult
Discuss and take appropriate action regarding the proposed EDC 4B operating budget for the fiscal year 2016-2017.
Economic Development Corporation 4BPage 4 of 21July 18, 2016
2016
18,
July
of 21
5
Page
4B
Corporation
Development
Economic
Town of Trophy Club 100 Municipal Drive
Trophy Club, Texas 76262
Legislation Details (With Text)
File #:2016-405-T Version:1 Name:
Type:Agenda Item Status:Regular Session
File created:7/8/2016 In control:Economic Development Corporation 4B (EDC 4B)
On agenda:7/18/2016 Final action:
Title:Consider and take appropriate action regarding the April 4, 2016 Economic Development Corporation
minutes.
Attachments:04042016 EDC Minutes.DRAFT.pdf
DateVer.Action ByActionResult
Consider and take appropriate action regarding the April 4, 2016 Economic Development Corporation minutes.
Economic Development Corporation 4BPage 6 of 21July 18, 2016
MINUTES OF REGULAR SESSION FOR THE
ECONOMIC DEVELOPMENT CORPORATION 4B BOARD
LOCATION: 100 MUNICIPAL DRIVE, TROPHY CLUB, TEXAS
Monday, April 4, 2016
7:00 p.m.
STATE OF TEXAS
COUNTY OF DENTON
The Economic Development Corporation 4B of the Town of Trophy Club, Texas, met in Regular
Session on April 4, 2016. The meeting was held within the boundaries of the Town and was
open to the public.
EDC 4B DIRECTORS PRESENT:
Gregory Wilson President
Eric Jensen Vice President
Angela Newell Treasurer/Secretary
Sean Bone Director
Michael Richmond Director
Henry Brandt Director
EDC 4B DIRECTORS ABSENT:
Dave Brod Director
STAFF AND GUEST(S) PRESENT:
Rhylan Rowe Council Liaison
Stephen Seidel Town Manager
April Reiling Public Information Officer & Marketing Manager
President Gregory Wilson called the meeting to order and announced a quorum at 7:01
p.m.
CITIZEN PRESENTATIONS
REGULAR SESSION
1. Discuss and take appropriate action regarding the January 4, 2016 Minutes.
Motion by Vice President Eric Jensen to approve the January 4, 2016 Minutes as presented.
Motion seconded by Director Sean Bone. Motion passed unanimously.
2. Discuss and take appropriate action regarding the November 2015 Financials.
Town Manager Stephen Seidel provided an overview of the November and December
2015 Financials and the January and February 2016 Financials and answered questions
from the Board.
Motion by Vice President Eric Jensen to approve the November and December 2015
Financials and the January and February 2016 Financials as presented. Motion
seconded by Treasurer/Secretary Angela Newell. Motion passed unanimously.
3. Discuss and take appropriate action regarding the December 2015 Financials.
Action handled in Agenda Item 2.
Economic Development Corporation 4BPage 7 of 21July 18, 2016
4.
Discuss and take appropriate action regarding the January 2016 Financials.
Action handled in Agenda Item 2.
5.
Discuss and take appropriate action regarding the February 2016 Financials.
Action handled in Agenda Item 2.
6.
Trophy Club Town Center (PD-30) update and discussion of the same.
Town Manager Stephen Seidel provided an update regarding the recent approval of the Trophy
Club Town Center (PD-30) proposed amendments from the property owner, and gave the Board
an overview of the changes to the zoning document. The Town Manager answered questions
from the Board.
7.
Alliance Development Forum (ADF) update and discussion of the same.
Town Manager Stephen Seidel provided details regarding the May 6, 2016 Alliance Development
Forum event and answered questions from the Board.
8.
Town Manager Update:
- Meat U Anywhere BBQ
- Wonderland Montessori School & Retail Center
- Trophy Wood District
- Town Hall Groundbreaking
Town Manager Stephen Seidel provided updates and answered questions related to the topics
above.
Adjourn
Director Sean Bone motioned to adjourn. Motion seconded by Vice President Eric Jensen.
Motion passed unanimously. The Board adjourned at 7:28 p.m.
______________________________ ____________________________
Gregory Wilson, President Angela Newell, Treasurer/Secretary
Economic Development Corporation 4BPage 8 of 21July 18, 2016
Town of Trophy Club 100 Municipal Drive
Trophy Club, Texas 76262
Legislation Details (With Text)
File #:2016-406-T Version:1 Name:
Type:Agenda Item Status:Regular Session
File created:7/8/2016 In control:Economic Development Corporation 4B (EDC 4B)
On agenda:7/18/2016 Final action:
Title:Discuss and take appropriate action regarding the March 2016 Financials.
Attachments:EDC 4B March Financial Report FY 15-16.pdf
DateVer.Action ByActionResult
Discuss and take appropriate action regarding the March 2016 Financials.
Economic Development Corporation 4BPage 9 of 21July 18, 2016
Monthly Financial Statement
M 2016
ARCH
Economic Development Corporation 4BPage 10 of 21July 18, 2016
TOWN OF TROPHY CLUB
MARCH 2016 FINANCIAL REPORT
ECONOMIC DEVELOPMENT COPORATION 4B
Year-to-Date March 2016Percent of Budget Year Transpired: 50%
Original Revised
RevenueYear-to-DateVariance% Received
BudgetBudget
Sales Tax$ 365,109$ 365,109$ 200,352$ 164,75755%
Interest Income 450 450 662 (212)147%
Total Revenue$ 365,559$ 365,559$ 201,014$ 164,54555%
Original Revised
ExpendituresYear-to-DateVariance% Used
BudgetBudget
Auditing$ 1,000 $ 1,000 $ -$ 1,000 0%
Advertising 5,200 5,200 5,2000%
-
Printing 500 500 5000%
-
Schools & Training 1,310 1,310 1,3100%
-
Dues & Membership 1,050 1,050 1,0500%
-
Travel & Per Diem 694 694 375 31954%
Office Supplies 250 250 2500%
-
Miscellaneous Expense 7,950 7,950 7,9500%
-
EDC Projects 3,750 3,750 3,500 25093%
Incentive Programs 140,773 140,773 70,386 70,387 50%
Debt Service 208,473 208,473 51,736 156,7370%
Total Expenditures$ 370,950$ 370,950$ 125,998$ 244,95234%
TC Event Center competitive study.
Original Revised
Fund BalanceYear-to-Date
BudgetBudget
$ 490,480$ 3,060,400
Beginning Fund Balance$ 490,480
(5,391) 75,017
+Net Increase (Decrease) (5,391)
Ending Fund Balance$ 485,089$ 485,089$ 3,135,417
Based on Fiscal Year 2014-2015 audited financial statements.
Variance due to 2015 CO bond issuance
Land inventory asset totals $2,538,76
Spendable resources totals $596,652.
Economic Development Corporation 4BPage 11 of 21July 18, 2016
TOWN OF TROPHY CLUB
MARCH 2016 FINANCIAL REPORT
EDC 4B Sales Tax Comparative
FY 2015FY 2016
OCT$ 27,691$ 30,471
50,000
NOV$ 31,248$ 39,522
45,000
DEC$ 28,158$ 28,273
40,000
JAN$ 23,502$ 32,390
35,000
FEB$ 47,901$ 41,534
30,000
25,000 MAR$ 22,585$ 28,162
FY 2015
20,000
APR$ 25,324
FY 2016
15,000
MAY$ 30,767
10,000
JUN$ 29,324
5,000
JUL$ 27,479
0
AUG$ 32,881
SEP$ 27,851
Economic Development Corporation 4BPage 12 of 21July 18, 2016
Town of Trophy Club 100 Municipal Drive
Trophy Club, Texas 76262
Legislation Details (With Text)
File #:2016-407-T Version:1 Name:
Type:Agenda Item Status:Regular Session
File created:7/8/2016 In control:Economic Development Corporation 4B (EDC 4B)
On agenda:7/18/2016 Final action:
Title:Discuss and take appropriate action regarding the April 2016 Financials
Attachments:EDC 4B April Financial Report FY 15-16.pdf
DateVer.Action ByActionResult
Discuss and take appropriate action regarding the April 2016 Financials
Economic Development Corporation 4BPage 13 of 21July 18, 2016
Monthly Financial Statement
A 2016
pril
Economic Development Corporation 4BPage 14 of 21July 18, 2016
TOWN OF TROPHY CLUB
APRIL 2016 FINANCIAL REPORT
ECONOMIC DEVELOPMENT COPORATION 4B
Year-to-Date April 2016Percent of Budget Year Transpired: 58%
Original Revised
RevenueYear-to-DateVariance% Received
BudgetBudget
Sales Tax$ 365,109$ 365,109$ 227,272$ 137,83762%
Interest Income 450 450 803 (353)179%
Total Revenue$ 365,559$ 365,559$ 228,076$ 137,48362%
Original Revised
ExpendituresYear-to-DateVariance% Used
BudgetBudget
Auditing$ 1,000 $ 1,000 $ 1,000 $ -100%
Advertising 5,200 5,200 5,2000%
-
Printing 500 500 5000%
-
Schools & Training 1,310 1,310 345 96526%
Dues & Membership 1,050 1,050 1,0500%
-
Travel & Per Diem 694 694 30 6644%
Office Supplies 250 250 2500%
-
Miscellaneous Expense 7,950 7,950 1,500 6,45019%
EDC Projects 3,750 3,750 3,500 25093%
Incentive Programs 140,773 140,773 82,118 58,655 58%
Debt Service 208,473 208,473 51,736 156,7370%
Total Expenditures$ 370,950$ 370,950$ 140,229$ 230,72138%
TC Event Center competitive study.
Original Revised
Fund BalanceYear-to-Date
BudgetBudget
Beginning Fund Balance$ 490,480$ 490,480$ 3,060,400
+Net Increase (Decrease) (5,391) (5,391) 87,847
Ending Fund Balance$ 485,089$ 485,089$ 3,148,247
Economic Development Corporation 4BPage 15 of 21July 18, 2016
TOWN OF TROPHY CLUB
APRIL 2016 FINANCIAL REPORT
EDC 4B Sales Tax Comparative
FY 2015FY 2016
OCT$ 27,691$ 30,471
50,000
NOV$ 31,248$ 39,522
45,000
DEC$ 28,158$ 28,273
40,000
JAN$ 23,502$ 32,390
35,000
FEB$ 47,901$ 41,534
30,000
MAR$ 22,585$ 28,162
25,000
FY 2015
20,000
APR$ 25,324$ 26,920
FY 2016
15,000
MAY$ 30,767
10,000
JUN$ 29,324
5,000
JUL$ 27,479
0
AUG$ 32,881
SEP$ 27,851
Economic Development Corporation 4BPage 16 of 21July 18, 2016
Town of Trophy Club 100 Municipal Drive
Trophy Club, Texas 76262
Legislation Details (With Text)
File #:2016-408-T Version:1 Name:
Type:Agenda Item Status:Regular Session
File created:7/8/2016 In control:Economic Development Corporation 4B (EDC 4B)
On agenda:7/18/2016 Final action:
Title:Discuss and take appropriate action regarding the May 2016 Financials.
Attachments:EDC 4B May Financial Report FY 15-16.pdf
DateVer.Action ByActionResult
Discuss and take appropriate action regarding the May 2016 Financials.
Economic Development Corporation 4BPage 17 of 21July 18, 2016
Monthly Financial Statement
Photo Credit:
Mayor Pro Tem Lamont 2016
Honoring William “Bill” Splichal - Served in United States Army from 1943 - 1946 in the 78th Infantry Division. This unit survived the
Battle of the Bulge and after capturing the Seigfried line, engaged in a ten day battle capturing and holding the Bridge at Remagan,
which was critical to achieving an Allied Victory, allowing 5 divisions to cross the Rhine into the German’s industrial heartland,
shortening the war and saving thousands of lives. Bill also had the Honor to be a part of General George Patton’s Funeral Ceremony.
After his discharge from active duty Bill served in the National Guard from 1948 to 1971. His unit was activated in 1950 for the
Korean War and once again Bill answered the call. At the end of his 28 years of Service to our Country rising from Private to Warrant
Officer, Bill had earned 28 Campaign Ribbons and 3 Battle Stars. Bill moved to Trophy Club in 2000 taught Trumpet at Medlin Middle
School, and in 2014 was the Honorary Veteran & Grand Marshal of our July 4th Parade of Patriots. Bill embodies the Honored
History and Patriotic Spirit of the United States Army.
M 2016
ay
Economic Development Corporation 4BPage 18 of 21July 18, 2016
TOWN OF TROPHY CLUB
MAY 2016 FINANCIAL REPORT
ECONOMIC DEVELOPMENT COPORATION 4B
Year-to-Date May 2016Percent of Budget Year Transpired: 67%
Original Revised
RevenueYear-to-DateVariance% Received
BudgetBudget
Sales Tax$ 365,109$ 365,109$ 258,834$ 106,27571%
Interest Income 450 450 896 (446)199%
Total Revenue$ 365,559$ 365,559$ 259,730$ 105,82971%
Original Revised
ExpendituresYear-to-DateVariance% Used
BudgetBudget
Auditing$ 1,000 $ 1,000 $ 1,000 $ -100%
Advertising 5,200 5,200 5,2000%
-
Printing 500 500 5000%
-
Schools & Training 1,310 1,310 345 96526%
Dues & Membership 1,050 1,050 1,0500%
-
Travel & Per Diem 694 694 30 6644%
Office Supplies 250 250 2500%
-
Miscellaneous Expense 7,950 7,950 2,500 5,45031%
EDC Projects 3,750 3,750 3,500 25093%
Incentive Programs 140,773 140,773 93,849 46,924 67%
Debt Service 208,473 208,473 51,736 156,7370%
Total Expenditures$ 370,950$ 370,950$ 152,960$ 217,99041%
TC Event Center competitive study.
Original Revised
Fund BalanceYear-to-Date
BudgetBudget
Beginning Fund Balance$ 490,480$ 490,480$ 3,060,400
+Net Increase (Decrease) (5,391) (5,391) 106,770
Ending Fund Balance$ 485,089$ 485,089$ 3,167,170
Based on Fiscal Year 2014-2015 audited financial statements.
Variance due to 2015 CO bond issuance
Land inventory asset totals $2,538,765
Spendable resources totals $628,405.
Economic Development Corporation 4BPage 19 of 21July 18, 2016
TOWN OF TROPHY CLUB
MAY 2016 FINANCIAL REPORT
EDC 4B Sales Tax Comparative
FY 2015FY 2016
OCT$ 27,691$ 30,471
50,000
NOV$ 31,248$ 39,522
45,000
DEC$ 28,158$ 28,273
40,000
JAN$ 23,502$ 32,390
35,000
FEB$ 47,901$ 41,534
30,000
MAR$ 22,585$ 28,162
25,000
FY 2015
APR$ 25,324$ 26,920
20,000
FY 2016
15,000
MAY$ 30,767$ 31,562
10,000
JUN$ 29,324
5,000
JUL$ 27,479
0
AUG$ 32,881
SEP$ 27,851
Economic Development Corporation 4BPage 20 of 21July 18, 2016
Town of Trophy Club 100 Municipal Drive
Trophy Club, Texas 76262
Legislation Details (With Text)
File #:2016-409-T Version:1 Name:
Type:Agenda Item Status:Regular Session
File created:7/8/2016 In control:Economic Development Corporation 4B (EDC 4B)
On agenda:7/18/2016 Final action:
Title:Town Manager Update:
OTD
Meat U Anywhere
PD-30
Attachments:
DateVer.Action ByActionResult
Town Manager Update:
OTD
Meat U Anywhere
PD-30
Economic Development Corporation 4BPage 21 of 21July 18, 2016