Minutes EDC 4B 01/04/2016 MINUTES OF REGULAR SESSION FOR THE
ECONOMIC DEVELOPMENT CORPORATION 4B BOARD
LOCATION: 100 MUNICIPAL DRIVE, TROPHY CLUB, TEXAS
Monday, January 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 January 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 arrived at 7::06pm
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 7:05
p.m.
CITIZEN PRESENTATIONS
REGULAR SESSION
1. Consider and take appropriate action regarding the October 5, 2015 Minutes.
Motion by Vice President Eric Jensen to approve the October 5, 2015 Minutes as presented.
Motion seconded by Director Sean Bone. Motion passed unanimously.
2. Discuss and take appropriate action regarding the August 2015 Financials.
Town Manager Stephen Seidel provided an overview of the August, September and October
2015 Financials and answered questions from the Board.
Motion by Director Sean Bone to approve the August 2015 Financials as presented. Motion
seconded by Vice President Eric Jensen.
Motion by Vice President Eric Jensen to amend the motion to include September and October
2015 Financials to the previous motion. Motion passed unanimously.
Motion to approve August, September and October 2015 Financials passed unanimously.
3. Discuss and take appropriate action regarding the September 2015 Financials.
Action handled in Agenda Item 2.
4. Discuss and take appropriate action regarding the October 2015 Financials.
Action handled in Agenda Item 2.
5. Consider and take appropriate action regarding an agreed termination of Service
Contract between the Town and Economic Development Corporation 4B for
payment of principal and interest for the construction of a municipal park and
swimming pool.
Town Manager Stephen Seidel provided an overview of the recent action taken by Town
Council to terminate the Services Contract with EDC 4B in order for the Board to focus on
economic development.
Motion by Director Sean Bone to terminate the Municipal Park/Pool Bond Services Contract.
Motion seconded by Treasurer/Secretary Angela Newell. Motion passed unanimously.
6. Old Town Development (OTD) update and discussion of the same.
Town Manager Stephen Seidel provided an update regarding Bread Winners/The Quarter Bar
and answered questions from the Board.
7. Town Manager Update:
- Trophy Club Town Center
- ICSC
- ADF
- Breadwinners Ground Breaking
Town Manager Stephen Seidel provided updates and answered questions related to the topics
above.
EXECUTIVE SESSION
8. Pursuant to Texas Government Code, Annotated, Subchapter 551, EDC 4B will
convene into closed executive session as authorized by:
Section 551.087 Deliberation Regarding Economic Development Negotiations to
discuss or deliberate the offer of financial or other incentives to a business
prospect that the Town seeks to have locate within the territory of the Town.
The Board convened into Executive Session at 7:28 p.m.
RECONVENE INTO REGULAR SESSION
The Board reconvened into Regular Session at 8:18 p.m.
9. Consider and take appropriate action regarding the Executive Session.
Adjourn
Vice President Eric Jensen motioned to adjourn. Motion seconded by Director Henry Brandt.
Motion passed unanim•usly. The Board adjourned at 8:18 p.m.
Agt4/ 7/7.avrk.:,(
Gregory"ilson, President Angela I�i�well, Tsurer/Secretary