Minutes EDC 4B 02/02/2015MINUTES OF REGULAR SESSION FOR THE
ECONOMIC DEVELOPMENT CORPORATION 413 BOARD
LOCATION: 100 MUNICIPAL DRIVE, TROPHY CLUB, TEXAS
Monday, February 2, 2015
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 February 2, 2015. The meeting was held within the boundaries of the Town and was
open to the public.
EDC 413 DIRECTORS PRESENT:
Gregory Wilson
President
Dave Brod
Vice President
Gerald Rapp
Secretary/Treasurer
Eric Jensen
Director
David Brod
Director
Sean Bone
Director
Rebecca Shuman
Director
EDC 413 DIRECTORS ABSENT:
Sean Weaver Director
STAFF AND GUEST(S) PRESENT:
Stephen Seidel Acting Town Manager
April Reiling Public Information Officer & Marketing Manager
President Gregory Wilson called the meeting to order and announced a quorum at 7:03
p.m.
CITIZEN PRESENTATIONS
REGULAR SESSION
1. Discuss and take appropriate action regarding a Letter Agreement with Old Town
Development (OTD).
Acting Town Manager Stephen Seidel provided an overview of the OTD Term Sheet and
timeline for the Developer's Agreement. The Letter of Agreement seeks to amend the previous
Term Sheet regarding servicing the property payment prior to the Developer's Agreement being
executed. The original Term Sheet stated that payment would commence once the property had
closed and execution of the Developer's Agreement. In exchange for payment to begin prior to
an executed Developer's Agreement, OTD would agree to have their performance window
begin on the date of closing (January 22, 2015). OTD acquired an additional 'h acre at no cost
and engaged Catalyst Commercial regarding marketing analytics targeting restaurants.
Director Eric Jensen made a motion authorizing Acting Town Manager Stephen Seidel to work
with OTD regarding the Letter Agreement, and make changes as appropriate. Motion seconded
by Director Sean Bone. Motion passed unanimously.
2. Discuss and take appropriate action regarding the EDC 413 Strategic Plan.
The Board discussed the Strategic Plan and various aspects regarding the direction of EDC
413's strategic plan. The Board indicated a need for Council direction regarding priorities.
Director Eric Jensen made a motion to table item and requested that Acting Town Manager
Stephen Seidel obtain feedback from Town Council regarding moving forward. Motion seconded
by Vice President Dave Brod. Motion passed unanimously.
3. Discuss and take appropriate action regarding the November 2014 Financials.
Director Rebecca Shuman made a motion to approve the November 2014 and December 2014
Financials as presented. Motion seconded by Director Eric Jensen. Motion passed
unanimously.
4. Discuss and take appropriate action regarding the December 2014 Financials.
Item handled in previous action.
5. Discuss and take appropriate action regarding the November 25, 2014 Minutes
from the Joint Session Meeting.
Vice President Dave Brod made a motion to accept the November 25, 2014 Minutes as
presented. Motion seconded by Secretary/Treasurer Jerry Rapp. Motion passed unanimously.
Mayor Nick Sanders addressed the EDC 4B Board and indicated that he prefers detailed
Minutes, while pointing out the challenges involved with providing a verbatim discussion. The
Board asked various questions regarding policy for Minutes and Audio.
6. Discuss and take appropriate action regarding the January 5, 2015 Minutes.
Director Rebecca Shuman pointed out an incorrect Director title in the Minutes in two locations.
The January 5, 2015 Minutes were corrected at the dais.
Director Rebecca Shuman made a motion to accept the January 5, 2015 Minutes as amended
at the dais. Motion seconded by Secretary/Treasurer Jerry Rapp. Motion passed unanimously.
7. Acting Town Manager Update:
- The Plaza
- The Village
- Village Centre
- The Commons
- Trophy Wood
- Wonderland Plaza
- Trophy Club Town Center
Acting Town Manager Stephen Seidel provided updates and answered questions related to the
topics above.
Adjourn
President Greg Wilson motioned to adjourn. Motion seconded by Secretary/Treasurer Jerry
Rapp. Motion passed unanimously. The Board adjourned at 8:08 p.m.
/Ire
Grego ilson, President
Gerald Rapp, Secretary/Treasurer