Agenda Packet EDC 4B 04/14/2008 - CANCELLEDTown of Trophy Club
Economic Development Corporation 4B Meeting Agenda
100 Municipal Drive
Trophy Club, Texas 76262
Monday, April 14, 2008
7:30 PM
A.1 Call to order and announce a quorum.
A.2 On March 10, 2008 and April 14, 2008, at 6:30 p.m. there will be a Public
Hearing of the Economic Development Corporation 4B of the Town of Trophy
Club, Texas, at the Svore Municipal Building, 100 Municipal Drive, Trophy Club,
Texas, 76262, for the purpose of considering various amendments to the fiscal
year 2007-2008 budget. There is a sixty (60) day period that begins February
15, 2008; the date of the public notice of the proposed project(s), during which
the public may submit a petition with any objections to the project(s). Please
contact Deputy Town Secretary, Shannon DePrater, concerning any questions at
682-831-4605.
A.3 Discuss and take appropriate action regarding FY06/07 Budget Amendments.
A.4 Discuss and take appropriate action regarding Board Officers.
A.5 Discuss and take appropriate action regarding the FY08/09 Budget.
A.6 Discuss and take appropriate action regarding the hiring of a Strategic Planning
Facilitator.
A.7 Discuss and take appropriate action regarding the 2008 ICSC Regional Meeting.
A.8 Staff Updates:
A.9 Approval of Minutes:
A. March 10, 2008 Regular Session
B. March 24, 2008 Joint Workshop Session
A.10 Approval of February 2008 Financials.
A.11 Items for Future Agendas:
A.12 Other Business:
A.13 Next Meeting scheduled for April 12, 2008 at 6:30 p.m.
A.14 Adjourn regular session.
ECONOMIC DEVELOPMENT CORPORATION 4B
MEMORANDUM
From: Shannon DePrater Date: 4-14-2008
Subject: Agenda Item No.A.1
Call to order and announce a quorum.
2
ECONOMIC DEVELOPMENT CORPORATION 4B
MEMORANDUM
From: Shannon DePrater Date: 4-14-2008
Subject: Agenda Item No.A.2
On March 10, 2008 and April 14, 2008, at 6:30 p.m. there will be a Public
Hearing of the Economic Development Corporation 4B of the Town of
Trophy Club, Texas, at the Svore Municipal Building, 100 Municipal Drive,
Trophy Club, Texas, 76262, for the purpose of considering various
amendments to the fiscal year 2007-2008 budget. There is a sixty (60) day
period that begins February 15, 2008; the date of the public notice of the
proposed project(s), during which the public may submit a petition with
any objections to the project(s). Please contact Deputy Town Secretary,
Shannon DePrater, concerning any questions at 682-831-4605.
3
ECONOMIC DEVELOPMENT CORPORATION 4B
MEMORANDUM
From: Shannon DePrater Date: 4-14-2008
Subject: Agenda Item No.A.3
Discuss and take appropriate action regarding FY06/07 Budget
Amendments.
Attachments: 1. Spreadsheet of Proposed Amended Budget
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ACTUAL PROPOSED
ADOPTED AMENDED
ACCOUNT BUDGET BUDGET
NUMBER DESCRIPTION 2007/2008 2007/2008
REVENUES
40030 Sales Tax - General (115,000) (115,000)
49010 Interest Income (6,000) (6,000)
49035 Reserves
TOTAL REVENUES (121,000) (121,000)
EXPENSES
60066 Publications/Books/Subscriptions 100 100
60070 Dues & Memberships 2,500 2,500
Artsnet Membership
60080 Schools & Training 1,400 1,400
Mandatory State Training 600
TEDC Basic Course 600
TEDC Conference Dallas 200
60100 Travel & Per Diem 3,000 3,000
Houston (4 days, one person) 850
San Antonio (3 days, three people) 1,850
Meals for potential businesses/developers 300
60125 Advertising 11,310 11,310
Dallas Business Journal 6,500
Dallas Area Chamber 2,500
Metroport Chamber Map 700
Chamber Advertising Membership Directory 360
Other Advertising Opportunities 1,250
60245 Miscellaneous Expenses 5,000 5,000
60315 EDC Projects 20,000 52,000
Trophy Club Park at Lake Grapevine 30,000
Buxton Project. MUD 1 to fund $15K 15,000
Consultant for Strategic Plan Development 5,000
Outdoor Warning Siren Equipment Move 2,000
60340 Large Project Reserves 45,924 13,924
60355 Administrative Reimbursement 25,566 25,566
65085 Office Supplies 200 200
65105 Printing 6,000 6,000
TOTAL EXPENDITURES 121,000 121,000
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ECONOMIC DEVELOPMENT CORPORATION 4B
MEMORANDUM
From: Shannon DePrater Date: 4-14-2008
Subject: Agenda Item No.A.4
Discuss and take appropriate action regarding Board Officers.
6
ECONOMIC DEVELOPMENT CORPORATION 4B
MEMORANDUM
From: Shannon DePrater Date: 4-14-2008
Subject: Agenda Item No.A.5
Discuss and take appropriate action regarding the FY08/09 Budget.
Attachments: 1. Current Year to Date Financials for FY07/08
2. Proposed FY08/09 Budget
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Current Year to Date Financials for FY07/08
ACTUAL PROPOSED
ADOPTED AMENDED FY 07/08 YEAR
ACCOUNT BUDGET BUDGET @ TO
NUMBER DESCRIPTION 2007/2008 2007/2008 02/29/08 DATE BALANCE
REVENUES
40030 Sales Tax - General (115,000) (115,000)(12,423) (29,427) (85,573)
49010 Interest Income (6,000) (6,000)(455) (2,500) (3,501)
49035 Reserves
TOTAL REVENUES (121,000) (121,000) (12,879) (31,926) (89,074)
EXPENSES
60066 Publications/Books/Subscriptions 100 100 - 119 (19)
60070 Dues & Memberships 2,500 2,500 - 2,500 -
Artsnet Membership
60080 Schools & Training 1,400 1,400 - - 1,400
Mandatory State Training 600
TEDC Basic Course 600
TEDC Conference Dallas 200
60100 Travel & Per Diem 3,000 3,000 - 611 2,389
Houston (4 days, one person) 850
San Antonio (3 days, three people) 1,850
Meals for potential businesses/developers 300
60125 Advertising 11,310 11,310 - 2,186 9,124
Dallas Business Journal 6,500
Dallas Area Chamber 2,500
Metroport Chamber Map 700
Chamber Advertising Membership Directory 360
Other Advertising Opportunities 1,250
60245 Miscellaneous Expenses 5,000 5,000 - 57 4,943
60315 EDC Projects 20,000 52,000 - 15,000 37,000
Trophy Club Park at Lake Grapevine 30,000
Buxton Project. MUD 1 to fund $15K 15,000
Consultant for Strategic Plan Development 5,000
Outdoor Warning Siren Equipment Move 2,000
60340 Large Project Reserves 45,924 13,924 -
60355 Administrative Reimbursement 25,566 25,566 3,447 3,447 22,119
65085 Office Supplies 200 200 - 91 109
65105 Printing 6,000 6,000 - - 6,000
TOTAL EXPENDITURES 121,000 121,000 3,447 24,010 83,066
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Proposed FY08/09 Budget:
PROPOSED
ACCOUNT BUDGET
NUMBER DESCRIPTION 2008/2009
REVENUES
40030 Sales Tax - General (115,000)
49010 Interest Income (6,000)
49035 Reserves
TOTAL REVENUES (121,000)
EXPENSES
60066 Publications/Books/Subscriptions 100
60070 Dues & Memberships -
60080 Schools & Training 1,400
Mandatory State Training 600
TEDC Basic Course 600
TEDC Conference Dallas 200
60100 Travel & Per Diem 3,000
Houston (4 days, one person) 850
San Antonio (3 days, three people) 1,850
Meals for potential businesses/developers 300
60125 Advertising 11,310
Dallas Business Journal 6,500
Dallas Area Chamber 2,500
Metroport Chamber Map 700
Chamber Advertising Membership Directory 360
Other Advertising Opportunities 1,250
60245 Miscellaneous Expenses 5,000
60315 EDC Projects 5,000
Consultant for Strategic Plan Development 5,000
60335 Intergov Trans Out (I&S)26,361
Pool Bond Payment
60340 Large Project Reserves 37,063
60355 Intergov Trans Out (GF)25,566
Administrative Reimbursement
65085 Office Supplies 200
65105 Printing 6,000
TOTAL EXPENDITURES 121,000
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ECONOMIC DEVELOPMENT CORPORATION 4B
MEMORANDUM
From: Shannon DePrater Date: 4-14-2008
Subject: Agenda Item No.A.6
Discuss and take appropriate action regarding the hiring of a Strategic
Planning Facilitator.
10
ECONOMIC DEVELOPMENT CORPORATION 4B
MEMORANDUM
From: Shannon DePrater Date: 4-14-2008
Subject: Agenda Item No.A.7
Discuss and take appropriate action regarding the 2008 ICSC Regional
Meeting.
11
ECONOMIC DEVELOPMENT CORPORATION 4B
MEMORANDUM
From: Shannon DePrater Date: 4-14-2008
Subject: Agenda Item No.A.8
Staff Updates:
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ECONOMIC DEVELOPMENT CORPORATION 4B
MEMORANDUM
From: Shannon DePrater Date: 4-14-2008
Subject: Agenda Item No .A.9
Approval of Minutes:
A. March 10, 2008 Regular Session
B. March 24, 2008 Joint Workshop Session
Attachments: 1. March 10, 2008 Regular Session Minutes
2. March 24, 2008 Regular Session Minutes
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MINUTES OF REGULAR SESSION
ECONOMIC DEVELOPMENT CORPORATION 4B
TOWN OF TROPHY CLUB
MARCH 10, 2008
6:30 P.M.
STATE OF TEXAS
COUNTY OF DENTON
The Economic Development Corporation 4B of the Town of Trophy Club, Texas, met in
a Regular Session on March 10, 2008. The meeting was held within the boundaries of
the Town and was open to the public.
DIRECTORS PRESENT:
James Hicks President
Damian Olthoff Secretary
Larry E. Crosser Treasurer
Dan Bishop Director
Dave Glaser Director
Rebecca Shuman Director arrived at 6:53 p.m.
DIRECTORS ABSENT:
Philip Sterling Council Liaison
Glenn Strother Director
STAFF AND GUEST(S) PRESENT:
Stephen Seidel Assistant Town Manager
Shannon DePrater Deputy Town Secretary
Danny Thomas Fire Chief
Sakura Dedrick Finance Director
Stephanie Gohlke Finance Analyst
A.1 Call to order and announce a quorum.
President Hicks, noting a quorum of EDC 4B, called the regular session to order at 6:40
p.m. and welcomed the two new board members; Directors Bishop and Glaser. Sakura
Dedrick introduced Stephanie Gohlke as the new financial analyst.
PUBLIC HEARING
A.2 On March 10, 2008 and April 14, 2008, at 6:30 p.m. there will be a Public
Hearing of the Economic Development Corporation 4B of the Town of
Trophy Club, Texas, at the Svore Municipal Building, 100 Municipal Drive,
Trophy Club, Texas, 76262, for the purpose of considering various
amendments to the fiscal year 2007-2008 budget. There is a sixty (60) day
period that begins February 15, 2008; the date of the public notice of the
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proposed project(s), during which the public may submit a petition with
any objections to the project(s). Please contact Deputy Town Secretary,
Shannon DePrater, concerning any questions at 682-831-4605.
President Hicks opened the public hearing at 6:41 p.m.
No presentations.
President Hicks closed the public hearing at 6:42 p.m.
A.3 Discuss and take appropriate action regarding funding the move of the
Outdoor Warning Siren equipment.
Fire Chief Danny Thomas gave a brief presentation. EDC 4B originally funded this
project in 2001. Stephen Seidel also informed the Board that Council has asked that
this item be brought to EDC 4B.
Director Crosser asked whether Parks and Recreation would be better to fund this
request than EDC 4B.
President Hicks asked if this was the best price for the equipment move. Hicks
mentioned that he was on the Board when it originally funded the Outdoor Warning
Siren. Hicks went on to share that the Board’s funding has decreased since the original
funding.
Crosser moved to fund $2000 of the original $6000 funding request. Director Olthoff
seconded; motion carried unanimously.
President Hicks moved the following agenda items forward:
B.1 Approval of the February 11, 2008 Regular Session Minutes.
Crosser moved to approve the February 11, 2008 Regular Session Minutes as written.
Director Shuman seconded; motion carried unanimously.
B.2 Approval of January 2008 Financials.
Director Crosser updated the Board; if there is not an increase in sales tax, there will be
a revenue shortfall this fiscal year.
Director Shuman made a motion to approve the January 2008 Financials. Director
Crosser seconded; motion carried unanimously.
A.4 Discuss FY2008-2009 Budget and long range planning.
Director Crosser updated Directors Bishop and Glaser on the Pool Bond payment.
Sakura Dedrick explained the differences between the Pool Bond payment and Pool
Operations payments.
President Hicks clarified that EDC 4B is not obliged to pay the 20% pool operations; the
Board is still obliged to pay the 25% of the Pool Bond payment.
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Discussion ensued; the consensus of the Board is to continue with the understanding
that EDC 4B is obligated to pay the 25% of the Pool Bond payment.
Director Crosser mentioned the financials indicate that if EDC 4B continues to pay the
Pool Bond payment, the Board’s funds will cease in five years.
Director Shuman suggests going to EDC 4A with different options –
1. EDC 4B will cease to exist if paying the full portion
2. Suggesting going to the Town for the portion
3. Splitting the portion
Another option would be to cease administrative reimbursement and continue to pay the
25% of the Pool Bond.
The Board took a recess at 8:05 and resumed at 8:10 p.m.
Director Crosser will make a presentation on new businesses. President Hicks asked
Ms. Dedrick to create a presentation of maintaining status quo with sales tax and if the
Board would pay the 25% portion.
Board agreed that Director Crosser will make a presentation with three options: 5 year
forecast, 3 year forecast and a do nothing forecast.
President Hicks will invite Mayor Sanders to the joint meeting.
Staff directed Assistant Town Manager Seidel to gather a list of long range planning
consultants to continue EDC 4B’s long range/strategic planning process.
A.5 Board to receive an update on Trophy Club Park.
Director Glaser updated the Board.
B.3 Items for Future Agendas:
• Directors attending boards and commission meetings
B.4 Meeting Schedule:
A. Joint Meeting with EDC A - March 24, 2008
B. Regular Session Meeting - April 14, 2008
C.1 Adjourn regular session.
Director Shuman made a motion to adjourn at 9:21 p.m. Director Olthoff seconded;
motion carried unanimously.
______________________________ _______________________________
Jim Hicks, President Damian Olthoff, Secretary
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MINUTES OF REGULAR SESSION FOR THE
ECONOMIC DEVELOPMENT CORPORATION 4A BOARD
AND JOINT WORKSHOP SESSION
WITH ECONOMIC DEVELOPMENT CORPORATION 4B BOARD
LOCATION: 100 MUNICIPAL DRIVE, TROPHY CLUB, TEXAS
Monday, March 24, 2008
6:30 PM
STATE OF TEXAS
COUNTY OF DENTON
The Economic Development Corporation 4A and Economic Development Corporation
4B of the Town of Trophy Club, Texas, met in Regular Session and Joint Workshop
Session on March 24, 2008. The meeting was held within the boundaries of the Town
and was open to the public.
EDC 4B DIRECTORS PRESENT:
JD Harvey President
Dwight Morrow Vice President
Neil Twomey Treasurer
Richard Bell Director
Leland Wilhelm Director
Jim Moss EDC 4A Council Liaison
EDC 4B DIRECTORS PRESENT:
James Hicks President
Damian Olthoff Secretary
Larry E. Crosser Treasurer
Dan Bishop Director
Dave Glaser Director
Rebecca Shuman Director arrived at 6:41 p.m.
DIRECTORS ABSENT:
Philip Sterling EDC 4B Council Liaison
STAFF AND GUEST(S) PRESENT:
Stephen Seidel Assistant Town Manager
Adam Adams Parks and Recreation Director
Shannon DePrater Deputy Town Secretary
Chief Danny Thomas Fire Chief
Sakura Dedrick Finance Director
Stephanie Golhke Finance Analyst
Nick Sanders Mayor
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A.1 EDC 4A to call to order and announce a quorum.
President Harvey, noting a quorum of EDC 4A, called the regular session to order at
6:30 p.m.
A.2 EDC 4B to call to order and announce a quorum.
President Hicks, noting a quorum of EDC 4B, called the regular session to order at 6:30
p.m.
EDC 4A AND EDC 4 B TO CONVENE INTO WORKSHOP SESSION
A.3 EDC 4A and EDC 4B to discuss current and future operations for planning.
Director Crosser gave a presentation on EDC 4B’s current financial standing and
addressed questions. President Harvey stated he has no issue with administrative
reimbursement, but the Boards may need to revisit the reimbursement process.
The possibility of utilizing Hotel/Motel Tax was discussed as an option for administrative
reimbursement.
Director Shuman stated that the Board has created incentives and tax abatements to
offer prospective retailers to aid in their start up costs.
President Harvey asked if there is any documentation of how the street program is
being utilized. Mayor Sanders shared an internal list of street repairs/projects is being
kept.
President Hicks reminded the EDC 4A of the large amount of funds needed to possibly
aid bringing retail development to Trophy Club.
Director Twomey reminded EDC 4B of EDC 4A’s current obligation to pay the current
pool bond payment in full is on a year to year basis.
President Hicks gave a brief overview of the history of the Pool Bond payment and
shared EDC 4B’s future plans.
Director Shuman shared that all entities need to create a list of all projects needed, what
entity can pay for it, prioritize the items, and proceed. The bottom line is what you do
you want your budget to support.
The Boards questioned what projects each entity could pay for and what would be
needed to dissolve one Board versus the other.
President Hicks reiterated the importance of all entities being on board with future
development.
EDC 4B recommends that it not reassume the pool bond payment.
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Director Twomey asked what level would EDC 4B like to keep their reserves at.
President Hicks shared EDC 4B has not determined a figure.
Director Twomey also asked if EDC 4B is willing to go to Council and ask for a
commitment of funds in areas for future development.
Director Shuman asked EDC 4A if they have discussed any revenue generating
projects, such as user fees.
Director Olthoff summarized that both Boards are looking at incremental revenue.
Both Boards decided that due to the time constraints imposed by the budgetary
process, the FY08/09 budget needed to be mutually agreed upon and resolved at this
meeting.
The general consensus of both Boards is EDC 4B will continue to pay their portion of
the Pool Bond payment and EDC 4A will hold in reserve at least EDC 4B’s Pool Bond
payment amount and make those funds available in the event EDC 4B would need
those funds.
It was suggested that staff coordinate the handling of this matter and bring the other
Board’s budget to their next meeting respectively.
EDC 4A AND EDC 4 B TO RECONVENE INTO REGULAR SESSION
A.4 EDC 4B to adjourn.
Director Crosser made a motion for EDC 4B to adjourn at 8:17 p.m. Director Strother
seconded; motion carried unanimously.
______________________________ _______________________________
Jim Hicks, President Damian Olthoff, Secretary
19
ECONOMIC DEVELOPMENT CORPORATION 4B
MEMORANDUM
From: Shannon DePrater Date: 4-14-2008
Subject: Agenda Item No.A.10
Approval of February 2008 Financials.
Attachments: 1. Financial Spreadsheet
2. First Financial February 2008 Bank Statement
3. Texpool February 2008 Bank Statement
20
ACTUAL PROPOSED
ADOPTED AMENDED FY 07/08
ACCOUNT BUDGET BUDGET @
NUMBER DESCRIPTION 2007/2008 2007/2008 02/29/08
REVENUES
40030 Sales Tax - General (115,000) (115,000)(12,423)
49010 Interest Income (6,000) (6,000)(455)
49035 Reserves
TOTAL REVENUES (121,000) (121,000) (12,879)
EXPENSES
60066 Publications/Books/Subscriptions 100 100 -
60070 Dues & Memberships 2,500 2,500 -
Artsnet Membership
60080 Schools & Training 1,400 1,400 -
Mandatory State Training 600
TEDC Basic Course 600
TEDC Conference Dallas 200
60100 Travel & Per Diem 3,000 3,000 -
Houston (4 days, one person) 850
San Antonio (3 days, three people) 1,850
Meals for potential businesses/developers 300
60125 Advertising 11,310 11,310 -
Dallas Business Journal 6,500
Dallas Area Chamber 2,500
Metroport Chamber Map 700
Chamber Advertising Membership Directory 360
Other Advertising Opportunities 1,250
60245 Miscellaneous Expenses 5,000 5,000 -
60315 EDC Projects 20,000 52,000 -
Trophy Club Park at Lake Grapevine 30,000
Buxton Project. MUD 1 to fund $15K 15,000
Consultant for Strategic Plan Development 5,000
Outdoor Warning Siren Equipment Move 2,000
60340 Large Project Reserves 45,924 13,924 -
60355 Administrative Reimbursement 25,566 25,566 3,447
65085 Office Supplies 200 200 -
65105 Printing 6,000 6,000 -
TOTAL EXPENDITURES 121,000 121,000 3,447
Bank Balances As of 2/29/2008
1st Financial 12,036
Texpool 172,288
Total 184,324
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ECONOMIC DEVELOPMENT CORPORATION 4B
MEMORANDUM
From: Shannon DePrater Date: 4-14-2008
Subject: Agenda Item No.A.11
Items for Future Agendas:
24
ECONOMIC DEVELOPMENT CORPORATION 4B
MEMORANDUM
From: Shannon DePrater Date: 4-14-2008
Subject: Agenda Item No .A.12
Other Business:
25
ECONOMIC DEVELOPMENT CORPORATION 4B
MEMORANDUM
From: Shannon DePrater Date: 4-14-2008
Subject: Agenda Item No.A.13
Next Meeting scheduled for April 12, 2008 at 6:30 p.m.
Attachments: 1. May 2008 Calendar of Events
26
27
ECONOMIC DEVELOPMENT CORPORATION 4B
MEMORANDUM
From: Shannon DePrater Date: 4-14-2008
Subject: Agenda Item No. A.14
Adjourn regular session.
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