Agenda Packet EDC 4B 07/06/2015Economic Development Corporation 4B
(EDC 4B)
Trophy Club Entities
Meeting Agenda
100 Municipal Drive
Trophy Club, Texas 76262
Svore Municipal Building Boardroom7:00 PMMonday, July 6, 2015
CALL TO ORDER AND ANNOUNCE A QUORUM
CITIZEN PRESENTATIONS
Citizens are allowed three (3) minutes to address the Board regarding an item over
which the Board has policy or oversight authority as provided by Texas law, the ethics
order, or other policy order.
PUBLIC HEARING
1.2015-0449-T Public Hearing considering the expenditure of funds for the fiscal year
2015-2016 budget.
2.2015-0459-T Public Hearing to receive public comment and input regarding the potential
undertaking of a project and the expenditure of Corporation sales tax revenues
for the purchase of approximately 7.441 total acres of land consisting of two
parcels located generally at the northeast corner of Trophy Wood Drive and
Plaza Drive and at Lot 2, Block 1 Solana Land Addition located generally north
of State Highway 114 and west of Trophy Wood Drive within the Town of
Trophy Club for the purpose of promoting new or expanded business
development in accordance with authorized purposes under Chapter 505,
Texas Local Government Code, as amended. (The sixty (60) day period
during which the public may submit a petition with any objection(s) to the
project commenced on June 19, 2015.)
REGULAR SESSION
3.2015-0461-T Discuss and take appropriate action authorizing the Town Manager to
execute any and all necessary documents for purchases associated with
approved projects.
Staff Report.pdf
Bond Issuance Timetable.PDF
Property Parcel Diagram.pdf
Attachments:
Economic Development Corporation 4B Page 1 of 33 Monday, July 6, 2015
July 6, 2015Economic Development
Corporation 4B (EDC 4B)
Meeting Agenda
4.2015-0454-T Discuss and take appropriate action regarding the fiscal year 2015-2016
EDC 4B budget.
Staff Report.pdf
FY2015-16 Budget.pdf
2013 Interlocal Agreement.pdf
Attachments:
5.2015-0450-T Discuss and take appropriate action regarding the April 2015 Financials.
April Financial Report FY 2015.pdfAttachments:
6.2015-0451-T Discuss and take appropriate action regarding the May 2015 Financials.
May Financial Report FY 2015.pdfAttachments:
7.2015-0452-T Discuss and take appropriate action regarding the May 4, 2015 Minutes.
005 May 4 2015 Minutes.pdfAttachments:
8.2015-0453-T Discuss and take appropriate action regarding the June 1, 2015 Minutes
from the Joint Session with Town Council.
TC Joint Minutes June 1 2015.pdfAttachments:
9.2015-0462-T Town Manager Update:
- The Village
- PD-30
- MEAT "U" ANYWHERE
ADJOURN
*THE BOARD MAY CONVENE INTO EXECUTIVE SESSION TO DISCUSS POSTED
ITEMS AS ALLOWED BY THE TEXAS OPEN MEETINGS ACT, TEXAS LOCAL
GOVERNMENT CODE 551.071.
Notice is hereby given that a quorum of the Town Council may be in attendance at
this meeting.
Economic Development Corporation 4B Page 2 of 33 Monday, July 6, 2015
July 6, 2015Economic Development
Corporation 4B (EDC 4B)
Meeting Agenda
CERTIFICATION
I certify that the above notice was posted on the front window of the Svore Municipal
Building, 100 Municipal Drive, Trophy Club, Texas, on Thursday, July 2, 2015 by 5:00
P.M. in accordance with Chapter 551, Texas Government Code.
___________________________________
April Reiling
PIO & Marketing Manager
If you plan to attend this public meeting and have a disability that requires special
needs, please contact the Town Secretary’s Office at 682-831-4600, 48 hours in
advance and reasonable accommodations will be made to assist you.
I certify that the attached notice and agenda of items to be considered by this Board
was removed by me from the front window of the Svore Municipal Building, 100
Municipal Drive, Trophy Club, Texas, on the __________ day of
______________________, 2014.
________________________________, Title: ___________________________
Economic Development Corporation 4B Page 3 of 33 Monday, July 6, 2015
100 Municipal Drive
Trophy Club, Texas 76262Trophy Club Entities
Legislation Details (With Text)
File #: Version:22015-0449-T Name:
Status:Type:Agenda Item Regular Session
File created:In control:6/29/2015 Economic Development Corporation 4B (EDC 4B)
On agenda:Final action:7/6/2015
Title:Public Hearing considering the expenditure of funds for the fiscal year 2015-2016 budget.
Attachments:
Action ByDate Action ResultVer.
Public Hearing considering the expenditure of funds for the fiscal year 2015-2016 budget.
Economic Development Corporation 4B Page 4 of 33 Monday, July 6, 2015
100 Municipal Drive
Trophy Club, Texas 76262Trophy Club Entities
Legislation Details (With Text)
File #: Version:12015-0459-T Name:
Status:Type:Agenda Item Regular Session
File created:In control:6/30/2015 Economic Development Corporation 4B (EDC 4B)
On agenda:Final action:7/6/2015
Title:Public Hearing to receive public comment and input regarding the potential undertaking of a project
and the expenditure of Corporation sales tax revenues for the purchase of approximately 7.441 total
acres of land consisting of two parcels located generally at the northeast corner of Trophy Wood Drive
and Plaza Drive and at Lot 2, Block 1 Solana Land Addition located generally north of State Highway
114 and west of Trophy Wood Drive within the Town of Trophy Club for the purpose of promoting new
or expanded business development in accordance with authorized purposes under Chapter 505,
Texas Local Government Code, as amended. (The sixty (60) day period during which the public may
submit a petition with any objection(s) to the project commenced on June 19, 2015.)
Attachments:
Action ByDate Action ResultVer.
Public Hearing to receive public comment and input regarding the potential undertaking of a project and the
expenditure of Corporation sales tax revenues for the purchase of approximately 7.441 total acres of land
consisting of two parcels located generally at the northeast corner of Trophy Wood Drive and Plaza Drive and
at Lot 2, Block 1 Solana Land Addition located generally north of State Highway 114 and west of Trophy Wood
Drive within the Town of Trophy Club for the purpose of promoting new or expanded business development in
accordance with authorized purposes under Chapter 505, Texas Local Government Code, as amended. (The
sixty (60) day period during which the public may submit a petition with any objection(s) to the project
commenced on June 19, 2015.)
Economic Development Corporation 4B Page 5 of 33 Monday, July 6, 2015
100 Municipal Drive
Trophy Club, Texas 76262Trophy Club Entities
Legislation Details (With Text)
File #: Version:12015-0461-T Name:
Status:Type:Agenda Item Regular Session
File created:In control:7/1/2015 Economic Development Corporation 4B (EDC 4B)
On agenda:Final action:7/6/2015
Title:Discuss and take appropriate action authorizing the Town Manager to execute any and all necessary
documents for purchases associated with approved projects.
Attachments:Staff Report.pdf
Bond Issuance Timetable.PDF
Property Parcel Diagram.pdf
Action ByDate Action ResultVer.
Discuss and take appropriate action authorizing the Town Manager to execute any and all necessary
documents for purchases associated with approved projects.
Economic Development Corporation 4B Page 6 of 33 Monday, July 6, 2015
To: EDC 4B Board of Directors
From: Stephen Seidel, Town Manager
Re: Authorization to Execute Documents for Property Acquisition
Agenda Item:
Discuss and take appropriate action authorizing the Town Manager to execute any and all
necessary documents for purchases associated with approved projects.
Explanation:
At the June 1, 2015 Joint Meeting between the Town Council and EDC 4B, the Town Manager
was instructed to seek acquisition of two specific property parcels totaling approximately 7.441
acres located in the general vicinity of Trophy Wood Drive. By acquiring these tracts, the Town
and EDC would control the destiny and future development. The long term goal is to ensure
that Trophy Club develops appropriately and seeks projects that enhance our community and
region. The EDC will need to issue bonds to acquire the total acreage and the Council will need
to approve the project. The public hearing was the first step to initiate bond funding as required
by State law.
Staff seeks the authorization by the Board to permit the Town Manager to execute any and all
necessary documents for purchases associated with approved projects. Currently, there are
two Letters of Intent fully executed by both parties. Staff is currently working to develop the
formal contracts, and hopes to have those completed within the next couple of weeks.
The total cost to acquire the 7.441 acres is approximately $2.6 million. This would result in a
yearly bond payment of approximately $200,000 per year. Based upon today’s timeline, the
bonds would close on August 25, 2015 and receive funding towards the end of September.
Thus, closing would be scheduled for the first or second week of October 2015.
Recommendation:
The Town staff recommends providing authorization to the Town Manager to execute any and
all necessary documents for purchases associated with approved projects.
Attachments:
Property Parcel Diagram
Bond Issuance Timetable
Page 1 of 1
Economic Development Corporation 4B Page 7 of 33 Monday, July 6, 2015
TROPHY CLUB ECONOMIC DEVELOPMENT CORPORATION (THE “EDC”)
$____________*
SALES TAX REVENUE BONDS, TAXBLE SERIES 2015
(THE “BONDS”)
S M T W T F S S M T W T F S S M T W T F S S M T W T F S
123456 1234 1 12345
78910111213 567891011 2345678 6789101112
14 15 16 17 18 19 20 12 13 14 15 16 17 18 9 10 11 12 13 14 15 13 14 15 16 17 18 19
21 22 23 24 25 26 27 19 20 21 22 23 24 25 16 17 18 19 20 21 22 20 21 22 23 24 25 26
28 29 30 26 27 28 29 30 31 23 24 25 26 27 28 29 27 28 29 30
30 31
June July August September
Friday, June 19, 2015 The Town of Trophy Club (the “Town”) publishes the EDC Project Notice in the local paper
Tuesday, June 30, 2015 SAMCO Capital Markets, Inc. (“SAMCO”) sends the Request for Information (“RFI”) to
the Town/EDC officials
SAMCO begins first draft of the Preliminary Official Statement (POS)
Monday, July 6, 2015 Public hearing on the proposed EDC Project
Friday, July 10, 2015 The completed RFI is returned to SAMCO
Monday, July 13, 2015 First draft of the POS sent to Bond Counsel for review and comments
Monday, July 20, 2015 Comments to the first POS draft due to SAMCO
Tuesday, July 21, 2015 Second draft of the POS sent to the Town/EDC, Bond Counsel, Underwriter, Underwriter’s
Counsel, Rating Agency and Insurance Companies
Week of August 3rd
or August 10th
Rating and Due Diligence conference calls
Wednesday, July 29, 2015 Comments to the second POS draft due to SAMCO
Thursday, July 31, 2015 Final draft of POS sent to Town/EDC, Bond Counsel, Underwriter and Underwriter’s Counsel
Thursday, August 13, 2015 Final POS Comments due to SAMCO
Monday, August 17, 2015 Post POS to PostOS
Wednesday, August 19, 2015 Receive Rating and Insurance Bids
Monday, August 24, 2015 Bonds Pricing
Tuesday, August 25, 2015 Joint meeting of EDC Board of Directors and Town Council to approve sale documents and
authorize the issuance of the Bonds
Tuesday, September 15, 2015 SAMCO notifies all parties of closing/delivery instructions
Thursday, September 24, 2015 Bonds Closing; funds wired the EDC’s depository bank
___________
*Preliminary, subject to change.
Economic Development Corporation 4B Page 8 of 33 Monday, July 6, 2015
PD-25: 1.83 Acre Pad Sites
OTD
PD-25: 1.54 Acre Pad Sites
OTD
PD-25: 1.2 Acre Medical Office
Development (Completed)
PD-25: 2.8 acres
Holiday Inn
Under Construction
Hampton Inn
Joint Facility:
Town Hall & Police Station
PD-25: 0.94 Acre
Pad Site
PD-25: Value Place
PD-34: 5.321 Acre Pad Site
PROPOSED PURCHASE
PD-25: 2.12 Acre Pad Site
PROPOSED PURCHASE
Economic Development Corporation 4B Page 9 of 33 Monday, July 6, 2015
100 Municipal Drive
Trophy Club, Texas 76262Trophy Club Entities
Legislation Details (With Text)
File #: Version:12015-0454-T Name:
Status:Type:Agenda Item Regular Session
File created:In control:6/29/2015 Economic Development Corporation 4B (EDC 4B)
On agenda:Final action:7/6/2015
Title:Discuss and take appropriate action regarding the fiscal year 2015-2016 EDC 4B budget.
Attachments:Staff Report.pdf
FY2015-16 Budget.pdf
2013 Interlocal Agreement.pdf
Action ByDate Action ResultVer.
Discuss and take appropriate action regarding the fiscal year 2015-2016 EDC 4B budget.
Economic Development Corporation 4B Page 10 of 33 Monday, July 6, 2015
To: EDC 4B Board of Directors
From: Stephen Seidel, Town Manager
Re: FY2015 – 16 Proposed Budget
Agenda Item:
Discuss and take appropriate action regarding the Fiscal Year 2015-16 EDC 4B Budget.
Explanation:
The EDC 4B budget is attached for consideration and action. The most significant change from
2014-15 and 2015-16 is the placement of approximately $200,000 for bond payments related
to property acquisition. However, in order to achieve the ability to continue day to day minor
economic development activities the Board would need to request the Town Council to
consider a change to the 2013 Interlocal Agreement (ILA) for the 2002 Pool Bond which was
defeased. At the time of defeasance, the Town paid approximately $660,000 and the EDC-4B
Board paid $225,000 to defease the debt. The ILA executed required EDC to repay the Town the
$660,000 over a period of time. However, a caveat within the ILA allowed the Board to request
the Town Council to consider waiving or delaying payment for eligible and approved EDC
projects. In addition, the EDC has paid a reimbursement to the Town for the Town Manager’s
time serving as the Town’s Economic Development Director. In order to meet budget estimates,
the amount has been reduced to $10,000.
Recommendation:
The Town staff recommends EDC 4B approve the FY2015-16 Budget and request that the Town
Council consider waiving or delaying payment of the 2013 ILA requirement.
Attachments:
FY2015-16 Budget
2013 Interlocal Agreement
Page 1 of 1
Economic Development Corporation 4B Page 11 of 33 Monday, July 6, 2015
EDC 4B FY 2012
ACTUAL
FY 2013
ACTUAL
FY 2014
ACTUAL
FY 2015
BUDGET
FY 2015
ESTIMATE
FY 2016
PROPOSED
FY 2016
PROJECTED
FY 2017
PROJECTED
Beginning Fund Balance 341,135$ 382,709$ 167,530$ 332,636$ 318,541$ 476,885$ 477,724$ 539,136$
Revenue
Sales Tax - General $147,391 246,997$ 322,784$ 327,272$ 356,920$ 372,866$ 434,689$ 444,975$
Advertising Revenue 13,850 - - - - - - -
NTX Magazine Revenue - - 3,938 - - - - -
Interest Income - - 179 300 300 450 600 900
Total Revenue $161,241 246,997$ 326,901$ 327,572$ 357,220$ 373,316$ 435,289$ 445,875$
Expenditures
Auditing 1,000$ 3,500$ 1,000$ 1,000$ 1,000$ 1,000$ 1,000$ 1,000$
Election - 6,116 - - - - - -
Advertising 12,952 2,910 7,704 3,000 3,780 5,200 6,900 6,400
Printing - - 1,000 500 - 500 500 750
Schools & Training 1,766 1,955 1,430 2,120 270 1,310 1,310 1,310
Dues & Membership 300 400 650 1,050 600 1,050 1,150 1,150
Travel & Per Diem 2,396 153 132 1,533 30 694 694 694
Office Supplies 872 523 220 400 250 250 250 250
Miscellaneous Expense 2,983 12,427 6,059 7,100 5,234 7,950 9,950 9,950
EDC Projects 23,464 123,285 36,133 11,450 3,900 3,750 11,350 3,950
Incentive Programs - - - 140,773 93,848 140,773 140,773 140,773
Transfer to General Fund 47,151 55,200 66,597 155,634 89,964 10,000 - -
Transfer to Debt Service 26,783 234,533 54,964 - - 200,000 200,000 200,000
Total Expenditures 119,667$ 441,002$ 175,890$ 324,560$ 198,876$ 372,477$ 373,877$ 366,227$
Net Increase (Decrease)41,574$ (194,005)$ 151,011$ 3,012$ 158,344$ 839$ 61,412$ 79,648$
Ending Fund Balance 382,709$ 188,704$ 318,541$ 335,648$ 476,885$ 477,724$ 539,136$ 618,784$
Economic Development Corporation 4B Page 12 of 33 Monday, July 6, 2015
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100 Municipal Drive
Trophy Club, Texas 76262Trophy Club Entities
Legislation Details (With Text)
File #: Version:12015-0450-T Name:
Status:Type:Agenda Item Regular Session
File created:In control:6/29/2015 Economic Development Corporation 4B (EDC 4B)
On agenda:Final action:7/6/2015
Title:Discuss and take appropriate action regarding the April 2015 Financials.
Attachments:April Financial Report FY 2015.pdf
Action ByDate Action ResultVer.
Discuss and take appropriate action regarding the April 2015 Financials.
Economic Development Corporation 4B Page 19 of 33 Monday, July 6, 2015
TOWN OF TROPHY CLUB
APRIL 2015 FINANCIAL REPORT
ECONOMIC DEVELOPMENT COPORATION 4B
YEAR TO DATE APRIL 58%
Revenue Original
Budget
Revised
Budget Year to Date Variance % Received
Sales Tax 327,272$ 327,272$ 206,408$ 120,864$ 63%
Interest Income 300 300 282 18 94%
Total Revenue 327,572$ 327,572$ 206,690$ 120,882$ 63%
Expenditures Original
Budget
Revised
Budget Year to Date Variance % Used
Auditing 1,000$ 1,000$ 1,000$ -$ 100%
Advertising 3,000 3,000 2,280 720 76%
Printing 500 500 - 500 0%
Schools & Training 2,120 2,120 270 1,850 13%
Dues & Membership 1,050 1,050 - 1,050 0%
Travel & Per Diem 1,533 1,533 30 1,503 2%
Office Supplies 400 400 15 385 4%
Miscellaneous Expense 7,100 7,100 3,911 3,189 55%
Capital EDC Projects 11,850 11,850 - 11,850 0%
Incentive Programs 140,773 140,773 35,193 105,580 25%
Total Expenditures 169,326$ 169,326$ 42,699$ 126,627$ 25%
Other Uses Original
Budget
Revised
Budget Year to Date Variance % Used
Transfer to General Fund 155,634$ 89,964$ 44,982$ 44,982$ 50%
Total Other Uses 155,634$ 89,964$ 44,982$ 44,982$ 50%
Fund Balance Original
Budget
Revised
Budget Year to Date
Beginning Fund Balance 167,530$ 167,530$ 339,715$
+Net Increase (Decrease)2,612 68,282 119,009
Ending Fund Balance 170,142$ 235,812$ 458,724$
Percent of Budget Year Transpired
From FY 2014 Audited
Financial Statements
Economic Development Corporation 4B Page 20 of 33 Monday, July 6, 2015
TOWN OF TROPHY CLUB
APRIL 2015 FINANCIAL REPORT
FY 2015 FY 2014
October 27,691$ -$
November 31,248$ -$
December 28,158$ 21,477$
January 23,502$ 22,227$
February 47,901$ 36,928$
March 22,585$ 21,043$
April 25,324$ 20,816$
May 29,865$
June 27,059$
July 25,664$
August 30,489$
September 28,277$
$-
$5,000
$10,000
$15,000
$20,000
$25,000
$30,000
$35,000
$40,000
$45,000
$50,000
EDC 4B Sales Tax Comparative
FY 2015
FY 2014
Economic Development Corporation 4B Page 21 of 33 Monday, July 6, 2015
100 Municipal Drive
Trophy Club, Texas 76262Trophy Club Entities
Legislation Details (With Text)
File #: Version:12015-0451-T Name:
Status:Type:Agenda Item Regular Session
File created:In control:6/29/2015 Economic Development Corporation 4B (EDC 4B)
On agenda:Final action:7/6/2015
Title:Discuss and take appropriate action regarding the May 2015 Financials.
Attachments:May Financial Report FY 2015.pdf
Action ByDate Action ResultVer.
Discuss and take appropriate action regarding the May 2015 Financials.
Economic Development Corporation 4B Page 22 of 33 Monday, July 6, 2015
TOWN OF TROPHY CLUB
MAY 2015 FINANCIAL REPORT
ECONOMIC DEVELOPMENT COPORATION 4B
YEAR TO DATE MAY 67%
Revenue Original
Budget
Revised
Budget Year to Date Variance % Received
Sales Tax 327,272$ 327,272$ 237,175$ 90,097$ 72%
Interest Income 300 300 332 (32) 111%
Total Revenue 327,572$ 327,572$ 237,507$ 90,065$ 73%
Expenditures Original
Budget
Revised
Budget Year to Date Variance % Used
Auditing 1,000$ 1,000$ 1,000$ -$ 100%
Advertising 3,000 3,000 2,280 720 76%
Printing 500 500 - 500 0%
Schools & Training 2,120 2,120 270 1,850 13%
Dues & Membership 1,050 1,050 - 1,050 0%
Travel & Per Diem 1,533 1,533 30 1,503 2%
Office Supplies 400 400 15 385 4%
Miscellaneous Expense 7,100 7,100 3,934 3,166 55%
EDC Projects 11,850 11,850 - 11,850 0%
Incentive Programs 140,773 140,773 46,924 93,849 33%
Total Expenditures 169,326$ 169,326$ 54,453$ 114,873$ 32%
Other Uses Original
Budget
Revised
Budget Year to Date Variance % Used
Transfer to General Fund 155,634$ 89,964$ 44,982$ 44,982$ 50%
Total Other Uses 155,634$ 89,964$ 44,982$ 44,982$ 50%
Fund Balance Original
Budget
Revised
Budget Year to Date
Beginning Fund Balance 167,530$ 167,530$ 339,715$
+Net Increase (Decrease)2,612 68,282 138,072
Ending Fund Balance 170,142$ 235,812$ 477,787$
Percent of Budget Year Transpired
From FY 2014 Audited
Financial Statements
Economic Development Corporation 4B Page 23 of 33 Monday, July 6, 2015
TOWN OF TROPHY CLUB
MAY 2015 FINANCIAL REPORT
FY 2015 FY 2014
October 27,691$ -$
November 31,248$ -$
December 28,158$ 21,477$
January 23,502$ 22,227$
February 47,901$ 36,928$
March 22,585$ 21,043$
April 25,324$ 20,816$
May 29,324$ 29,865$
June 27,059$
July 25,664$
August 30,489$
September 28,277$
$-
$5,000
$10,000
$15,000
$20,000
$25,000
$30,000
$35,000
$40,000
$45,000
$50,000
EDC 4B Sales Tax Comparative
FY 2015
FY 2014
Economic Development Corporation 4B Page 24 of 33 Monday, July 6, 2015
100 Municipal Drive
Trophy Club, Texas 76262Trophy Club Entities
Legislation Details (With Text)
File #: Version:12015-0452-T Name:
Status:Type:Agenda Item Regular Session
File created:In control:6/29/2015 Economic Development Corporation 4B (EDC 4B)
On agenda:Final action:7/6/2015
Title:Discuss and take appropriate action regarding the May 4, 2015 Minutes.
Attachments:005 May 4 2015 Minutes.pdf
Action ByDate Action ResultVer.
Discuss and take appropriate action regarding the May 4, 2015 Minutes.
Economic Development Corporation 4B Page 25 of 33 Monday, July 6, 2015
MINUTES OF REGULAR SESSION FOR THE
ECONOMIC DEVELOPMENT CORPORATION 4B BOARD
LOCATION: 100 MUNICIPAL DRIVE, TROPHY CLUB, TEXAS
Monday, May 4, 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 May 4, 2015. The meeting was held within the boundaries of the Town and was
open to the public.
EDC 4B DIRECTORS PRESENT:
Gregory Wilson President
Dave Brod Vice President
Gerald Rapp Secretary/Treasurer
Eric Jensen Director
David Brod Director
Sean Bone Director
Sean Weaver Director
Rebecca Shuman Director
EDC 4B DIRECTORS ABSENT:
None
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 7:02
p.m.
CITIZEN PRESENTATIONS
REGULAR SESSION
1. Discuss and take appropriate action regarding the Handbook for Elected and
Appointed Officials.
Town Manager Stephen Seidel provided an overview of recent changes to the Handbook for
Elected and Appointed Officials and the Board asked questions.
2. Discuss and take appropriate action regarding the February 2, 2015 Minutes.
Vice President Dave Brod made a motion to accept the February 2, 2014 Minutes as amended
at the dais. Motion seconded by Secretary/Treasurer Jerry Rapp. Motion passed unanimously.
Director Eric Jensen noted that Director Rebecca Shuman was present but not listed in
attendance. The February 2, 2015 Minutes were corrected at the dais.
3. Discuss and take appropriate action regarding the January 2015 Financials.
Director Eric Jensen made a motion to approve the January 2015, February 2015 and March
2015 Financials as presented. Motion seconded by Vice Presidents Dave Brod. Motion passed
unanimously.
Economic Development Corporation 4B Page 26 of 33 Monday, July 6, 2015
4. Discuss and take appropriate action regarding the February 2015 Financials.
Action handled in previous item.
5. Discuss and take appropriate action regarding the March 2015 Financials.
Action handled in previous item.
6. Receive an Alliance Development Forum (ADF) update regarding the April 17, 2015
event, and discussion of the same.
Town Manager Stephen Seidel provided a recap of the Alliance Development Forum event and
updated the Board regarding attendance, speakers and topics discussed at the event. Vice
President Dave Brod also attended the event and provided input regarding the strong
development activity occurring in the area.
7. Discuss and take appropriate action regarding a Joint Meeting with the Town
Council.
Town Manager Stephen Seidel indicated that the Town Council would like to meet and go over
EDC 4B strategy and budget. The Board provided feedback regarding dates that might work
and asked staff to connect with Council to see if the June 1, 2015 regularly scheduled EDC 4B
meeting date might work.
8. Town Manager Update:
- The Plaza
- The Village
- The Village Centre
- The Commons
- Trophy Wood
Town Manager Stephen Seidel provided updates and answered questions related to the topics
above.
The Board convened into Executive Session at 7:28 p.m.
EXECUTIVE SESSION
9. 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.
RECONVENE INTO REGULAR SESSION
The Board reconvened into Regular Session at 8:10 p.m.
10. Consider and take appropriate action regarding the Executive Session.
No action taken.
Adjourn
Director Eric Jensen motioned to adjourn. Motion seconded by Director Sean Weaver. Motion
passed unanimously. The Board adjourned at 8:10 p.m.
Economic Development Corporation 4B Page 27 of 33 Monday, July 6, 2015
______________________________ __________________________
Gregory Wilson, President Gerald Rapp, Secretary/Treasurer
Economic Development Corporation 4B Page 28 of 33 Monday, July 6, 2015
100 Municipal Drive
Trophy Club, Texas 76262Trophy Club Entities
Legislation Details (With Text)
File #: Version:12015-0453-T Name:
Status:Type:Agenda Item Regular Session
File created:In control:6/29/2015 Economic Development Corporation 4B (EDC 4B)
On agenda:Final action:7/6/2015
Title:Discuss and take appropriate action regarding the June 1, 2015 Minutes from the Joint Session with
Town Council.
Attachments:TC Joint Minutes June 1 2015.pdf
Action ByDate Action ResultVer.
Discuss and take appropriate action regarding the June 1, 2015 Minutes from the Joint Session with
Town Council.
Economic Development Corporation 4B Page 29 of 33 Monday, July 6, 2015
MINUTES FROM JOINT SESSION
TOWN OF TROPHY CLUB TOWN COUNCIL AND
ECONOMIC DEVELOPMENT CORPORATION 4B
LOCATION: 100 MUNICIPAL DRIVE, TROPHY CLUB, TEXAS
Monday, June 1, 2015 at 7:00 P.M.
Svore Municipal Building Boardroom
The Town Council of the Town of Trophy Club, Texas, and the Economic Development Corporation 4B (EDC 4B),
met in a Joint Session on Monday, June 1, 2015, at 7:00 p.m. The meeting was held within the boundaries of the
Town and was open to the public.
STATE OF TEXAS §
COUNTY OF DENTON §
COUNTY OF TARRANT §
TOWN COUNCIL MEMBERS PRESENT:
C. Nick Sanders Mayor
Greg Lamont Mayor Pro Tem, Place 5
Jim Parrow Council Member, Place 1
Rhylan Rowe Council Member, Place 3 arrived at 7:06 p.m.
Tim Kurtz Council Member, Place 4
Philip Shoffner Council Member, Place 6
TOWN COUNCIL MEMBERS ABSENT:
Garrett Reed Council Member, Place 2
STAFF AND GUEST(S) PRESENT:
Stephen Seidel Town Manager
Patricia Adams Town Attorney
Steven Glickman Assistant Town Manager/CFO
Holly Fimbres Town Secretary/RMO
ECONOMIC DEVELOPMENT CORPORATION 4B MEMBERS PRESENT:
Gregory Wilson President
David Brod Vice President
Gerald Rapp Secretary/Treasurer
Sean Weaver Director
Eric Jensen Director
Sean Bone Director
ECONOMIC DEVELOPMENT CORPORATION 4B MEMBERS ABSENT:
Rebecca Shuman Director
Mayor Sanders and Economic Development Corporation (EDC) 4B President Wilson announced the date of
Monday, June 1, 2015, called the Joint Session to order and announced a quorum at 7:04 p.m.
CONVENE INTO JOINT SESSION - START TIME – 7:04 P.M.
CITIZEN PRESENTATIONS
This is an opportunity for citizens to address the Council and EDC 4B on any matter whether or not it is posted on
the agenda. The Council and EDC 4B is not permitted to take action on or discuss any presentations made to the
Council and EDC 4B at this time concerning an item not listed on the agenda. The Council and EDC 4B will hear
presentations on specific agenda items prior to the Council and EDC 4B addressing those items. You may speak up
Town Council Joint Minutes June 1, 2015 Page 1 of 3Economic Development Corporation 4B Page 30 of 33 Monday, July 6, 2015
to four (4) minutes or the time limit determined by the Mayor and EDC 4B President or presiding officer. To speak
during this item you must complete the Speaker's form that includes the topic(s) of your statement. Topics of
presentation should be limited to matters over which the Council and EDC 4B has authority.
There were no citizen presentations.
EXECUTIVE SESSION
1. Pursuant to the following designated sections of the Texas Local Government Code, Annotated, Chapter
551, the Economic Development Corporation 4B (EDC 4B) Board will convene into closed executive session
with the Town Council to discuss the following:
A. Texas Government Code 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.
(1) Potential Projects in the Trophy Wood Drive area
CONVENE INTO EXECUTIVE SESSION - START TIME – 7:06 P.M.
RECONVENE INTO REGULAR SESSION - START TIME –7:53 P.M.
RECONVENE INTO JOINT SESSION - START TIME – 7:53 P.M.
(Town Secretary Note: Agenda Item No. 3 was presented before Agenda Item No. 2)
2. Discussion regarding the EDC 4B budget for Fiscal Year 2015-2016.
Town Manager Seidel stated that contingent upon the outcome of the action taken after the Executive Session, will
determine the EDC 4B budget for Fiscal Year 2015-2016, which will be presented later for review and discussion.
No action was taken on this item.
3. Consider and take appropriate action regarding the Executive Session.
Motion:
Motion made by EDC 4B President Wilson, seconded by EDC 4B Director Jenson, to authorize the Town Manager to
proceed in deliberations for acquisition of property for the purpose of economic development as discussed in
Executive Session.
Motion passed unanimously.
ADJOURN
Motion made by EDC 4B Vice President Brod, seconded by EDC 4B Director Weaver, to adjourn. Motion carried
unanimously. Meeting adjourned at 7:56 p.m.
______________________________ _____________________________________
Gregory Wilson, EDC 4B President Gerald Rapp, EDC 4B Secretary/Treasurer
Town Council Joint Minutes June 1, 2015 Page 2 of 3Economic Development Corporation 4B Page 31 of 33 Monday, July 6, 2015
Mayor Sanders adjourned the meeting at 7:57 p.m.
Holly Fimbres Town Secretary/RMO
Town of Trophy Club, Texas
co~
C. Nick Sanders, Mayor
Town of Trophy Club, Texas
Town Council Joint Minutes June 1, 2015 Page 3 of 3Economic Development Corporation 4B Page 32 of 33 Monday, July 6, 2015
100 Municipal Drive
Trophy Club, Texas 76262Trophy Club Entities
Legislation Details (With Text)
File #: Version:12015-0462-T Name:
Status:Type:Agenda Item Regular Session
File created:In control:7/2/2015 Economic Development Corporation 4B (EDC 4B)
On agenda:Final action:7/6/2015
Title:Town Manager Update:
- The Village
- PD-30
- MEAT "U" ANYWHERE
Attachments:
Action ByDate Action ResultVer.
Town Manager Update:
- The Village
- PD-30
- MEAT "U" ANYWHERE
Economic Development Corporation 4B Page 33 of 33 Monday, July 6, 2015