Minutes TIRZ No. 1 11/25/2014 MINUTES FROM REGULAR SESSION TOWN COUNCIL MEETING
FOR THE TOWN OF TROPHY CLUB
LOCATION:100 MUNICIPAL DRIVE,TROPHY CLUB,TEXAS
Tuesday,November 25,2014 at 6:00 P.M.
Svore Municipal Building Boardroom
The Town Council of the Town of Trophy Club,Texas, met in a Regular Session on Tuesday, November 25, 2014.
The meeting was held within the boundaries of the Town and was open to the public.
STATE OF TEXAS §
COUNTY OF DENTON §
TOWN COUNCIL MEMBERS PRESENT:
C.Nick Sanders Mayor
Greg Lamont Mayor Pro Tem, Place 5
Jim Parrow Council Member, Place 1
Garrett Reed Council Member, Place 2
Rhylan Rowe Council Member, Place 3
Tim Kurtz Council Member,Place 4
Philip Shoffner Council Member,Place 6
STAFF AND GUEST(S)PRESENT:
Mike Slye Town Manager
Stephen Seidel Assistant Town Manager
Patricia Adams Town Attorney
Tammy Ard Town Secretary
April Reiling PIO/Marketing Manager
Patrick Arata Police Chief
Mayor Sanders announced the date of Tuesday, November 25, 2014 called the Town Council to order and
announced a quorum at 6:03 p.m.
The Invocation was offered by Council Member Parrow.
The Pledges were led by Council Member Shoffner.
CONVENE INTO JOINT SPECIAL SESSION-START TIME—6:12 P.M.
SPECIAL SESSION JOINT MEETING WITH ECONOMIC DEVELOPMENT CORPORATION 4B(EDC 4B)AND TIRZ NO. 1
BOARD
ECONOMIC DEVELOPMENT CORPORATION(EDC)4B MEMBERS PRESENT:
Dave Brod Vice President
Rebecca Shuman Director
Sean Weaver Director
Eric Jensen Director
ECONOMIC DEVELOPMENT CORPORATION(EDC)4B MEMBERS ABSENT:
Gregory Wilson President
Gerald Rapp Secretary/Treasurer
November 25,2014 Page 1 of 2
TAX INCREMENT REINVESTMENT ZONE(TIRZ)NO.1 BOARD MEMBERS PRESENT:
Dave Brod Chair
Darryl Howard Board Member
Jared King Board Member
TAX INCREMENT REINVESTMENT ZONE(TIRZ)NO.1 BOARD MEMBERS ABSENT:
Adam Broyles Vice Chair
Carolyn Simms Tarrant County Representative
1. Consider and take appropriate action to reaffirm the Incentive Term Sheet for Old Town Development,
previously approved on March 24, 2014 and consider and take appropriate action regarding proposed
amendments to the Term Sheet.
Town Manager Mike Slye provided a broad overview of the previous action and introduced Old Town
Development(OTD)representatives Chris Gordon and Justin Springfield. OTD is seeking to reaffirm the deal sheet
from a previous opportunity for a different property in the same area(Trophy Wood).
Justin Springfield and Chris Gordon owners of Old Town Development (OTD) provided an overview of OTD's
commitments,history,future and provided a presentation and answered questions from Town Council, EDC4B and
TIRZ No.1.
The property is currently under contract and the proposed deal would bring in two to three new destination
restaurants to Trophy Club with a possible 2016 opening.
The Town Council, EDC 4B Board and TIRZ Board reviewed the previous Term Sheet and suggested possible
changes for an updated document.
Attachment A—OTD Presentation
Attachment B—Term Sheet(redlined)
Attachment C—Executed Term Sheet
COUNCIL RECESSED-8:03 P.M.
RECONVENE INTO REGULAR SESSION-START TIME—8:18 P.M.
TIRZ No. 1
Motion made by Board Member King,seconded by Board Member Howard to accept the term sheet as amended
this evening.
Motion carried unanimously.
EDC 4B
Motion made by Chairman Brod,seconded by Director Weaver to accept the term sheet as amended this evening.
Motion carried unanimously.
Town Council
Motion made by Mayor Pro Tem Lamont, seconded by Council Member Reed, to accept the term sheet as
amended this evening.
Motion passed unanimously.
Motion made by Board Member King seconded by Darryl Howard to adjourn.
Motion carried unanimously.TIRZ No.1 Board meeting adjourned at 9:14 p.m.
Motion mad• •y Director Sean We.ver seconded by Director Shuman to adjourn.
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David B sod, Chair Robbie Killingswort a�, Recoding Secretary
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