Agenda Packet EDC 4B 11/06/2017
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EDC4BPage 2 of 25Meeting Date: November 6, 2017
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EDC4BPage 3 of 25Meeting Date: November 6, 2017
Town of Trophy Club 100 Municipal Drive
Trophy Club, Texas 76262
Legislation Details (With Text)
File #:2017-500-T Version:1 Name:
Type:Agenda Item Status:Regular Session
File created:10/18/2017 In control:Economic Development Corporation 4B (EDC 4B)
On agenda:11/6/2017 Final action:
Title:Introduction of newly appointed Economic Development Corporation 4B members.
Attachments:Staff Report - EDC4B Members.pdf
DateVer.Action ByActionResult
Introduction of newly appointed Economic Development Corporation 4B members.
EDC4BPage 4 of 25Meeting Date: November 6, 2017
To: Economic Development Corporation 4B
From: Thomas M. Class Sr., Town Manager
CC: Anita Otterson, Administrative Assistant
Re: EDC4B Members
EDC4B Meeting November 6, 2017
Agenda Item:
Introduction of newly appointed Economic Development Corporation 4B members.
Explanation:
Below represents the current members of the EDC4B:
Economic Development Corporation 4B
1.Sean Bone (2019) 5. Jared Hall (2018)
2.Steve Flynn (2019) 6. David Brod (2018)
3.Travis Inge (2019) 7. Cory McDonald (2018)
4.Michael Richmond (2019)
Council Liaison: Mayor Pro Tem Rhylan Rowe
Page 1 of 1
EDC4BPage 5 of 25Meeting Date: November 6, 2017
Town of Trophy Club 100 Municipal Drive
Trophy Club, Texas 76262
Legislation Details (With Text)
File #:2017-487-T Version:1 Name:
Type:Agenda Item Status:Regular Session
File created:10/18/2017 In control:Economic Development Corporation 4B (EDC 4B)
On agenda:11/6/2017 Final action:
Title:Consider and take appropriate action regarding the appointment of the President.
Attachments:
DateVer.Action ByActionResult
Consider and take appropriate action regarding the appointment of the President.
EDC4BPage 6 of 25Meeting Date: November 6, 2017
Town of Trophy Club 100 Municipal Drive
Trophy Club, Texas 76262
Legislation Details (With Text)
File #:2017-488-T Version:1 Name:
Type:Agenda Item Status:Regular Session
File created:10/18/2017 In control:Economic Development Corporation 4B (EDC 4B)
On agenda:11/6/2017 Final action:
Title:Consider and take appropriate action regarding the appointment of the Vice President.
Attachments:
DateVer.Action ByActionResult
Consider and take appropriate action regarding the appointment of the Vice President.
EDC4BPage 7 of 25Meeting Date: November 6, 2017
Town of Trophy Club 100 Municipal Drive
Trophy Club, Texas 76262
Legislation Details (With Text)
File #:2017-489-T Version:1 Name:
Type:Agenda Item Status:Regular Session
File created:10/18/2017 In control:Economic Development Corporation 4B (EDC 4B)
On agenda:11/6/2017 Final action:
Title:Consider and take appropriate action regarding the appointment of the Secretary/Treasurer.
Attachments:
DateVer.Action ByActionResult
Consider and take appropriate action regarding the appointment of the Secretary/Treasurer.
EDC4BPage 8 of 25Meeting Date: November 6, 2017
Town of Trophy Club 100 Municipal Drive
Trophy Club, Texas 76262
Legislation Details (With Text)
File #:2017-491-T Version:1 Name:
Type:Agenda Item Status:Consent Agenda
File created:10/18/2017 In control:Economic Development Corporation 4B (EDC 4B)
On agenda:11/6/2017 Final action:
Title:Consider and take appropriate action regarding the July 17, 2017 Meeting Minutes.
Attachments:Draft Regular Session Minutes July 17, 2017.pdf
DateVer.Action ByActionResult
Consider and take appropriate action regarding the July 17, 2017 Meeting Minutes.
EDC4BPage 9 of 25Meeting Date: November 6, 2017
MINUTES OF REGULAR SESSION FOR THE
ECONOMIC DEVELOPMENT CORPORATION 4B BOARD
LOCATION: 100 MUNICIPAL DRIVE, TROPHY CLUB, TEXAS
Monday, July 17, 2017 at 7:00 P.M.
Svore Municipal Building Boardroom
The Economic Development Corporation 4B of the Town of Trophy Club, Texas, met in a Regular Session on
Monday, July 17, 2017. The meeting was held within the boundaries of the Town and was open to the public.
STATE OF TEXAS §
COUNTY OF DENTON §
ECONOMIC DEVELOPMENT CORPORATION 4B MEMBERS PRESENT:
Gregory Wilson President
Angela Newell Treasurer/Secretary
Cory McDonald Director
Michael Richmond Director
ECONOMIC DEVELOPMENT CORPORATION 4B ABSENT:
David Brod Director
Sean Bone Director
STAFF AND GUEST(S) PRESENT:
Rhylan Rowe Town Council Liaison
Thomas M. Class, Sr. Town Manager
Shannon Montgomery Operations Specialist
Amber Karkauskas Finance Director
Lisa Reich Town Planner
John Zagurski Budget Manager
President Wilson announced the date of Monday, July 17, 2017, called the EDC4B Board to order and announced a
quorum at 7:04 p.m.
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.
There were no Citizen Presentations made.
CONSENT AGENDA
1.Consider and take appropriate action regarding the April 24, 2017 Meeting Minutes.
2.Consider and take appropriate action regarding the March 2017 Financials.
3.Consider and take appropriate action regarding the April 2017 Financials.
4.Consider and take appropriate action regarding the May 2017 Financials.
Motion:
Motion made by Director Newell, seconded by Director McDonald, to approve Consent Agenda Items 1 through 4
as presented.
Motion passed unanimously.
EDC4BPage 10 of 25Meeting Date: November 6, 2017
5.FY2017-2018 Budget:
a.Conduct a Public Hearing regarding the proposed EDC 4B Operating Budget for the Fiscal Year 2017-2018.
b.Consider and take appropriate action regarding the proposed EDC 4B Operating Budget for the Fiscal
Year 2017-2018.
President Wilson opened the Public Hearing at 7:06 p.m.
Budget Manager John Zagurski walked the Board through the proposed budget and answered questions from the
Board.
President Wilson closed the Public Hearing at 7:08 p.m.
Motion:
Motion made by Director Newell, seconded by Director Richmond, to approve the proposed EDC 4B Operating
Budget for the Fiscal Year 2017-2018.
Motion passed unanimously.
6.Development Updates:
July 6 Planning & Zoning Commission Meeting Action
PD-30 Final Plat Status
Beck Elementary Site Plan Amendment
Town Planner Lisa Reich updated the Board and addressed questions; no action was taken.
EXECUTIVE SESSION
7.Pursuant to the following designated section of the Texas Government Code, Annotated, Chapter 551 (Texas
Open Meetings Act), the Council will convene into executive session to discuss the following:
Section 551.072 Deliberation regarding Real Property to discuss or deliberate the purchase, exchange, lease,
or value of real property if deliberation in an open meeting would have a detrimental effect on the position
of the governmental body in negotiations with a third person and Section 551.087 Deliberation regarding
Economic Development Negotiations under Subsection (2) 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:
North of Highway 114, east of Trophy Club Drive
CONVENED INTO EXECUTIVE SESSION AT 7:17 P.M.
RECONVENED INTO REGULAR SESSION AT 8:15 P.M.
8.Consider and take appropriate action regarding the Executive Session.
Motion:
Motion made by Director Richmond, seconded by Director Newell, to reopen the Trophy Wood District RFP with
language that allows the Board to close it at any time.
Motion passed unanimously.
ADJOURN
Motion:
Motion made by Director Newell to adjourn. Meeting adjourned at 8:16 p.m.
Motion passed unanimously.
_____________________________________________ ___________________________________
Shannon Montgomery, TRMC, Operations Specialist Greg Wilson, President, EDC 4B
Town of Trophy Club, Texas Town of Trophy Club, Texas
EDC4B Regular Session Minutes July 17, 2017 Page 2 of 2
EDC4BPage 11 of 25Meeting Date: November 6, 2017
Town of Trophy Club 100 Municipal Drive
Trophy Club, Texas 76262
Legislation Details (With Text)
File #:2017-492-T Version:1 Name:
Type:Agenda Item Status:Consent Agenda
File created:10/18/2017 In control:Economic Development Corporation 4B (EDC 4B)
On agenda:11/6/2017 Final action:
Title:Consider and take appropriate action regarding the June 2017 Financials.
Attachments:6.17 Financial Report FY17 EDC4B.pdf
DateVer.Action ByActionResult
Consider and take appropriate action regarding the June 2017 Financials.
EDC4BPage 12 of 25Meeting Date: November 6, 2017
TOWN OF TROPHY CLUB
JUNE 2017 FINANCIAL REPORT
ECONOMIC DEVELOPMENT COPORATION 4B
Percent of Budget Year Transpired:
Year-to-Date June 201775%
Original Revised
RevenueYear-to-DateVariance% Received
BudgetBudget
Sales Tax$ 447,509$ 447,509$ 326,075$ 255,57973%
Interest Income 1,500 1,500 2,478 1,637165%
Total Revenue$ 449,009$ 449,009$ 328,554$ 257,21573%
Original Revised
ExpensesYear-to-DateVariance% Used
BudgetBudget
Professional Outside Services$ 2,000 $ 2,000 $ 500$ 1,500 25%
Auditing 1,000 1,000 1,000 -100%
Advertising 4,200 4,200 181 4,0204%
Printing 250 250 - 2500%
Schools & Training 1,000 1,000 - 1,0000%
Dues & Membership 1,050 1,050 2,500 (1,450)238%
Travel & Per Diem 422 422 - 4220%
Office Supplies 250 250 30 22012%
Miscellaneous Expense 3,500 3,500 3,535 (35)101%
EDC Projects 15,950 15,950 17,018 (1,068)107%
Incentive Programs 206,820 206,820 117,311 89,509 57%
Paying Agent Fee 400 400 200 20050%
Debt Service 202,423 202,423 - 202,4230%
Total Expenses$ 439,265$ 439,265$ 142,274$ 296,99132%
Original Revised Operating
Working CapitalYear-to-Date
BudgetBudgetDays
Beginning Working Capital$ 544,191$ 544,191$ 561,247 460
+Net Increase (Decrease) 9,744 9,744 186,280 153
Ending Working Capital$ 553,935$ 553,935$ 747,527$ 613
Alliance Development Forum
Debris clean-up near Hampton Inn.
T ki l
As of preliminary audit of FY15-16 CAFR.
EDC4BPage 13 of 25Meeting Date: November 6, 2017
TOWN OF TROPHY CLUB
JUNE 2017 FINANCIAL REPORT
EDC 4B Sales Tax Comparative
FY 2016FY 2017
OCT$ 30,471$ 32,294
50,000
NOV$ 39,522$ 44,588
DEC$ 28,273$ 33,146
40,000
JAN$ 32,390$ 33,122
FEB$ 41,534$ 46,461
30,000
MAR$ 28,162$ 36,160
APR$ 26,920$ 29,806
FY 2016
20,000
MAY$ 31,562$ 38,066
FY 2017
JUN$ 30,272$ 32,431
10,000
JUL$ 32,667
AUG$ 36,701
0
SEP$ 35,256
EDC4BPage 14 of 25Meeting Date: November 6, 2017
Town of Trophy Club 100 Municipal Drive
Trophy Club, Texas 76262
Legislation Details (With Text)
File #:2017-493-T Version:1 Name:
Type:Agenda Item Status:Consent Agenda
File created:10/18/2017 In control:Economic Development Corporation 4B (EDC 4B)
On agenda:11/6/2017 Final action:
Title:Consider and take appropriate action regarding the July 2017 Financials.
Attachments:7.17 Financial Report FY17 EDC4B.pdf
DateVer.Action ByActionResult
Consider and take appropriate action regarding the July 2017 Financials.
EDC4BPage 15 of 25Meeting Date: November 6, 2017
TOWN OF TROPHY CLUB
JULY 2017 FINANCIAL REPORT
ECONOMIC DEVELOPMENT COPORATION 4B
Percent of Budget Year Transpired:
Year-to-Date July 201783%
Original Revised
RevenueYear-to-DateVariance% Received
BudgetBudget
Sales Tax$ 447,509$ 447,509$ 359,115$ 255,57980%
Interest Income 1,500 1,500 2,983 1,637199%
Total Revenue$ 449,009$ 449,009$ 362,098$ 257,21581%
Original Revised
ExpensesYear-to-DateVariance% Used
BudgetBudget
Professional Outside Services$ 2,000 $ 2,000 $ 500$ 1,500 25%
Auditing 1,000 1,000 1,000 -100%
Advertising 4,200 4,200 480 3,72011%
Printing 250 250 - 2500%
Schools & Training 1,000 1,000 - 1,0000%
Dues & Membership 1,050 1,050 2,500 (1,450)238%
Travel & Per Diem 422 422 - 4220%
Office Supplies 250 250 30 22012%
Miscellaneous Expense 3,500 3,500 3,535 (35)101%
EDC Projects 15,950 15,950 17,018 (1,068)107%
Incentive Programs 206,820 206,820 117,311 89,509 57%
Paying Agent Fee 400 400 200 20050%
Debt Service 202,423 202,423 - 202,4230%
Total Expenses$ 439,265$ 439,265$ 142,573$ 296,69232%
Original Revised Operating
Working CapitalYear-to-Date
BudgetBudgetDays
Beginning Working Capital$ 544,191$ 544,191$ 561,247 460
+Net Increase (Decrease) 9,744 9,744 219,525 180
Ending Working Capital$ 553,935$ 553,935$ 780,772$ 640
Alliance Development Forum
Debris clean-up near Hampton Inn.
T ki l
Per the FY15-16 CAFR.
EDC4BPage 16 of 25Meeting Date: November 6, 2017
TOWN OF TROPHY CLUB
JULY 2017 FINANCIAL REPORT
EDC 4B Sales Tax Comparative
FY 2016FY 2017
OCT$ 30,471$ 32,294
50,000
NOV$ 39,522$ 44,588
DEC$ 28,273$ 33,146
40,000
JAN$ 32,390$ 33,122
FEB$ 41,534$ 46,461
30,000
MAR$ 28,162$ 36,160
APR$ 26,920$ 29,806
FY 2016
20,000
MAY$ 31,562$ 38,066
FY 2017
JUN$ 30,272$ 32,431
10,000
JUL$ 32,667$ 33,040
AUG$ 36,701
0
SEP$ 35,256
EDC4BPage 17 of 25Meeting Date: November 6, 2017
Town of Trophy Club 100 Municipal Drive
Trophy Club, Texas 76262
Legislation Details (With Text)
File #:2017-494-T Version:1 Name:
Type:Agenda Item Status:Consent Agenda
File created:10/18/2017 In control:Economic Development Corporation 4B (EDC 4B)
On agenda:11/6/2017 Final action:
Title:Consider and take appropriate action regarding the August 2017 Financials.
Attachments:8.17 Financial Report FY17 EDC4B.pdf
DateVer.Action ByActionResult
Consider and take appropriate action regarding the August 2017 Financials.
EDC4BPage 18 of 25Meeting Date: November 6, 2017
TOWN OF TROPHY CLUB
AUGUST 2017 FINANCIAL REPORT
ECONOMIC DEVELOPMENT COPORATION 4B
Percent of Budget Year Transpired:
Year-to-Date August 201792%
Original Revised
RevenueYear-to-DateVariance% Received
BudgetBudget
Sales Tax$ 447,509$ 447,509$ 398,032$ 255,57989%
Interest Income 1,500 1,500 3,529 1,637235%
Total Revenue$ 449,009$ 449,009$ 401,561$ 257,21589%
Original Revised
ExpensesYear-to-DateVariance% Used
BudgetBudget
Professional Outside Services$ 2,000 $ 2,000 $ 500$ 1,500 25%
Auditing 1,000 1,000 1,000 -100%
Advertising 4,200 4,200 480 3,72011%
Printing 250 250 - 2500%
Schools & Training 1,000 1,000 - 1,0000%
Dues & Membership 1,050 1,050 2,500 (1,450)238%
Travel & Per Diem 422 422 - 4220%
Office Supplies 250 250 30 22012%
Miscellaneous Expense 3,500 3,500 3,535 (35)101%
EDC Projects 15,950 15,950 17,018 (1,068)107%
Incentive Programs 206,820 206,820 129,042 77,778 62%
Paying Agent Fee 400 400 200 20050%
Debt Service 202,423 202,423 202,423 -0%
Total Expenses$ 439,265$ 439,265$ 356,727$ 82,53881%
Original Revised Operating
Working CapitalYear-to-Date
BudgetBudgetDays
Beginning Working Capital$ 544,191$ 544,191$ 561,247 460
+Net Increase (Decrease) 9,744 9,744 44,833 37
Ending Working Capital$ 553,935$ 553,935$ 606,080$ 497
Alliance Development Forum
Debris clean-up near Hampton Inn.
T ki l
Per the FY15-16 CAFR.
EDC4BPage 19 of 25Meeting Date: November 6, 2017
TOWN OF TROPHY CLUB
AUGUST 2017 FINANCIAL REPORT
EDC 4B Sales Tax Comparative
FY 2016FY 2017
50,000
OCT$ 30,471$ 32,294
NOV$ 39,522$ 44,588
40,000
DEC$ 28,273$ 33,146
JAN$ 32,390$ 33,122
30,000
FEB$ 41,534$ 46,461
MAR$ 28,162$ 36,160
FY 2016
20,000
APR$ 26,920$ 29,806
FY 2017
MAY$ 31,562$ 38,066
10,000
JUN$ 30,272$ 32,431
JUL$ 32,667$ 33,040
0
AUG$ 36,701$ 38,917
SEP$ 35,256
EDC4BPage 20 of 25Meeting Date: November 6, 2017
Town of Trophy Club 100 Municipal Drive
Trophy Club, Texas 76262
Legislation Details (With Text)
File #:2017-495-T Version:1 Name:
Type:Agenda Item Status:Regular Session
File created:10/18/2017 In control:Economic Development Corporation 4B (EDC 4B)
On agenda:11/6/2017 Final action:
Title:Receive an update from Town Staff regarding the following Town developments:
·HG Sply
·Holiday Inn
Attachments:
DateVer.Action ByActionResult
Receive an update from Town Staff regarding the following Town developments:
HG Sply
Holiday Inn
EDC4BPage 21 of 25Meeting Date: November 6, 2017
Town of Trophy Club 100 Municipal Drive
Trophy Club, Texas 76262
Legislation Details (With Text)
File #:2017-496-T Version:1 Name:
Type:Agenda Item Status:Executive Session
File created:10/18/2017 In control:Economic Development Corporation 4B (EDC 4B)
On agenda:11/6/2017 Final action:
Title:Pursuant to the following designated section of the Texas Government Code, Annotated, Chapter 551
(Texas Open Meetings Act), the Board will convene into executive session to discuss the following:
A)Section 551.072 Deliberation regarding Real Property to discuss or deliberate the purchase,
exchange, lease, or value of real property if deliberation in an open meeting would have a detrimental
effect on the position of the governmental body in negotiations with a third person and Section
551.087 Deliberation regarding Economic Development Negotiations under Subsection (2) 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:
North of Highway 114, east of Trophy Club Drive
B)Section 551.074 Personnel Matters to discuss or deliberate the appointment, employment,
evaluation, reassignment, duties, discipline or dismissal of a public officer or employee:
Possible Consultant for Economic Development
Attachments:
DateVer.Action ByActionResult
PursuanttothefollowingdesignatedsectionoftheTexasGovernmentCode,Annotated,Chapter551(TexasOpen
Meetings Act), the Board will convene into executive session to discuss the following:
A)Section551.072DeliberationregardingRealPropertytodiscussordeliberatethepurchase,exchange,lease,or
valueofrealpropertyifdeliberationinanopenmeetingwouldhaveadetrimentaleffectonthepositionofthe
governmentalbodyinnegotiationswithathirdpersonandSection551.087DeliberationregardingEconomic
DevelopmentNegotiationsunderSubsection(2)todiscussordeliberatetheofferoffinancialorotherincentivestoa
business prospect that the Town seeks to have locate within the territory of the Town:
North of Highway 114, east of Trophy Club Drive
B)Section551.074PersonnelMatterstodiscussordeliberatetheappointment,employment,evaluation,
reassignment, duties, discipline or dismissal of a public officer or employee:
Possible Consultant for Economic Development
EDC4BPage 22 of 25Meeting Date: November 6, 2017
Town of Trophy Club 100 Municipal Drive
Trophy Club, Texas 76262
Legislation Details (With Text)
File #:2017-497-T Version:1 Name:
Type:Agenda Item Status:Regular Session
File created:10/18/2017 In control:Economic Development Corporation 4B (EDC 4B)
On agenda:11/6/2017 Final action:
Title:Consider and take appropriate action regarding an amendment to a Declaration of Parking Easement
Agreement; and authorize the EDC 4B President or his designee to execute all necessary documents.
Attachments:
DateVer.Action ByActionResult
ConsiderandtakeappropriateactionregardinganamendmenttoaDeclarationofParkingEasementAgreement;and
authorize the EDC 4B President or his designee to execute all necessary documents.
EDC4BPage 23 of 25Meeting Date: November 6, 2017
Town of Trophy Club 100 Municipal Drive
Trophy Club, Texas 76262
Legislation Details (With Text)
File #:2017-498-T Version:1 Name:
Type:Agenda Item Status:Regular Session
File created:10/18/2017 In control:Economic Development Corporation 4B (EDC 4B)
On agenda:11/6/2017 Final action:
Title:Consider and take appropriate action regarding the award of the Trophy Wood District Request for
Proposal; and authorize the EDC 4B President or his designee to execute all necessary documents.
Attachments:
DateVer.Action ByActionResult
ConsiderandtakeappropriateactionregardingtheawardoftheTrophyWoodDistrictRequestforProposal;and
authorize the EDC 4B President or his designee to execute all necessary documents.
EDC4BPage 24 of 25Meeting Date: November 6, 2017
Town of Trophy Club 100 Municipal Drive
Trophy Club, Texas 76262
Legislation Details (With Text)
File #:2017-499-T Version:1 Name:
Type:Agenda Item Status:Regular Session
File created:10/18/2017 In control:Economic Development Corporation 4B (EDC 4B)
On agenda:11/6/2017 Final action:
Title:Consider and take appropriate action resulting from the Executive Session.
Attachments:
DateVer.Action ByActionResult
Consider and take appropriate action resulting from the Executive Session.
EDC4BPage 25 of 25Meeting Date: November 6, 2017