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Agenda Packet EDC 4B 07/09/2012Economic Development Corporation 4B (EDC 4B) Trophy Club Entities Meeting Agenda 100 Municipal Drive Trophy Club, Texas 76262 Svore Municipal Building Boardroom6:30 PMMonday, July 9, 2012 Call To Order and announce a quorum. Citizen Presentation 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 1.2012-305-T Public Hearing considering the expenditure of funds for the fiscal year 2012-2013 budget. REGULAR SESSION 2.2012-306-T Budget overview and discussion. FY13 EDC-4B Proposed Budget.pdfAttachments: 3.2012-307-T Magazine overview. 4.2012-308-T Discuss and take appropriate action regarding engaging Creative Squall to assist with creating a Trophy Club economic development brochure. EDC 4B Brochure Estimate.pdfAttachments: 5.2012-309-T Discuss and take appropriate action regarding engaging Creative Squall to assist with creating tradeshow pop-up banners. EDC 4B Pop-up Banner Estimate.pdfAttachments: 6.2012-310-T Website/logo update. 7.2012-311-T Discuss and take appropriate action regarding the May 2012 Financials. May 2012 EDC 4B Financials.pdfAttachments: 8.2012-312-T Discuss and take appropriate action regarding the June Minutes. 006 June 11 2012 Minutes.pdfAttachments: Economic Development Corporation 4B 1 of 35 July 9, 2012 July 9, 2012Economic Development Corporation 4B (EDC 4B) Meeting Agenda 9.2012-313-T Assistant Town Manager Update: - The Shops at Trophy Club - Plaza - Village - Trophy Wood - Commons - ICSC 10.2012-314-T Next meeting date: Wednesday, August 22, 2012. 11.2012-315-T 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. 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 July 6, 2012 by 6:00 P.M. in accordance with Chapter 551, Texas Government Code. _________________________________ April M. 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 ______________________, 2012. ________________________________, Title: ___________________________ Economic Development Corporation 4B 2 of 35 July 9, 2012 100 Municipal Drive Trophy Club, Texas 76262Trophy Club Entities Legislation Details (With Text) File #: Version:12012-305-T Name: Status:Type:Agenda Item Regular Session File created:In control:7/6/2012 Economic Development Corporation 4B (EDC 4B) On agenda:Final action:7/9/2012 Title:Public Hearing considering the expenditure of funds for the fiscal year 2012-2013 budget. Attachments: Action ByDate Action ResultVer. Title Public Hearing considering the expenditure of funds for the fiscal year 2012-2013 budget. Economic Development Corporation 4B 3 of 35 July 9, 2012 100 Municipal Drive Trophy Club, Texas 76262Trophy Club Entities Legislation Details (With Text) File #: Version:12012-306-T Name: Status:Type:Agenda Item Regular Session File created:In control:7/6/2012 Economic Development Corporation 4B (EDC 4B) On agenda:Final action:7/9/2012 Title:Budget overview and discussion. Attachments:FY13 EDC-4B Proposed Budget.pdf Action ByDate Action ResultVer. Title Budget overview and discussion. Economic Development Corporation 4B 4 of 35 July 9, 2012 TOWN OF TROPHY CLUB, TEXAS Annual Program of Services ECONOMIC DEVELOPMENT CORPORATION 4B FUND 2009-10 2010-11 2011-12 2011-12 2012-13 2013-14 2014-15 DESCRIPTION ACTUAL ACTUAL ADOPTED ESTIMATE PROPOSED PROJECTED PROJECTED REVENUES 132,917 128,273 161,656 168,572 184,976 147,875 150,833 EXPENDITURES 91,378 124,595 161,656 149,649 184,976 152,957 156,016 TOTAL EXCESS/(DEFICIT)41,539$ 3,678$ -$ 18,922$ (0)$ (5,082)$ (5,183)$ REVENUES Sales Tax - General $132,420 $126,273 140,656 154,722 144,876 147,773 150,729 Interest Income 497 2,000 1,000 0 100 102 104 Advertising Income - - 20,000 13,850 - - Reserves - - - - 40,000 - - TOTAL REVENUES 132,917$ 128,273$ 161,656$ 168,572$ 184,976$ 147,875$ 150,833$ EXPENDITURES Auditing 916 1,000 1,000 1,000 $3,500 1,500 1,530 Publications/Books/Subscriptions - - - - - - - Dues & Memberships 200 200 250 250 $600 612 624 Schools & Training 1,020 2,300 2,320 554 $3,670 3,743 3,818 Travel & Per Diem 2,225 3,250 6,800 4,404 $4,040 4,121 4,203 Elections - - - - $9,000 Advertising 7,672 750 21,500 14,350 $6,500 6,630 6,763 Miscellaneous Expenses 424 10,100 8,600 6,300 $21,155 15,000 15,300 Community Events 1,000 - - - - - - EDC Projects 34,724 55,083 63,706 41,277 $48,000 36,000 36,720 Intergov Trans Out (GF I&S)26,362 26,246 26,783 26,783 $26,783 27,568 28,119 Large Project Reserves - - - - - - - Intergov Trans Out (GF)16,835 25,666 27,697 52,731 $52,728 53,783 54,858 Office Supplies - - 3,000 2,000 $2,000 2,000 2,040 Printing - - - - $7,000 2,000 2,040 TOTAL EXPENDITURES 91,378$ 124,595$ 161,656$ 149,649$ 184,976$ 152,957$ 156,016$ Economic Development Corporation 4B 5 of 35 July 9, 2012 Department:Line Item: EDC-4B Audit Description Explanation Target Costs Adjusted Costs Total Proposed Costs EDC-4B Audit Portion Audit Portion related to auditing EDC-4B Rev's & Exp's $1,000 $0 $1,000 EDC-4B Audit/Financial Consultant Assist with sales tax election $2,500 $2,500 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 TOTAL $1,000 $2,500 $3,500 Town of Trophy Club, Texas FY2012 EDC-4B Budget Expense Accounts Economic Development Corporation 4B 6 of 35 July 9, 2012 Department:Line Item: EDC-4B Publications/Books/Subscriptions Description Explanation Target Costs Adjusted Costs Total Proposed Costs N/A $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 TOTAL $0 $0 $0 Town of Trophy Club, Texas FY2012 EDC-4B Budget Expense Accounts Economic Development Corporation 4B 7 of 35 July 9, 2012 Department:Line Item: EDC-4B Dues & Memberships Description Explanation Target Costs Adjusted Costs Total Proposed Costs ICSC Membership Official = $100; Affiliate = $50 $250 $350 $600 `1 Official & 10 Affiliate $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 TOTAL $250 $350 $600 Town of Trophy Club, Texas FY2012 EDC-4B Budget Expense Accounts Economic Development Corporation 4B 8 of 35 July 9, 2012 Department:Line Item: EDC-4B Schools & Training Description Explanation Target Costs Adjusted Costs Total Proposed Costs TEDC Sales Tax Seminar TEDC educational seminar @ $175 Registration (4 per year)$700 $0 $700 ICSC Texas Deal Making San Antonio Texas Deal Making Registration @ $270 (11 per year)$1,620 $1,350 $2,970 - Include TM, ATM, CDD, 7 EDC, Marketing/PIO $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 TOTAL $2,320 $1,350 $3,670 Town of Trophy Club, Texas FY2012 EDC-4B Budget Expense Accounts Economic Development Corporation 4B 9 of 35 July 9, 2012 Department:Line Item: EDC-4B Travel & Per Diem Description Explanation Target Costs Adjusted Costs Total Proposed Costs Sales Tax Seminar $2000 = 4 EDC Members ($500/person)$2,000 $0 $2,000 ICSC Texas Deal Making Held in Dallas Convention Center:$4,800 ($2,760)$2,040 - 62 miles RT @$0.555 x 9 people x 3 days = $929 $0 - Per diem $71 x11 people = $781 $0 - Parking = $10/day x 11 people x 3 days = $330 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 TOTAL $6,800 ($2,760)$4,040 Town of Trophy Club, Texas FY2012 EDC-4B Budget Expense Accounts Economic Development Corporation 4B 10 of 35 July 9, 2012 Department:Line Item: EDC-4B Advertising Description Explanation Target Costs Adjusted Costs Total Proposed Costs Chamber Membership Directory Participate with ad in Directory $750 $750 Annual Trophy Club Magazine Create Magazine exclusively about TC each year $20,000 ($20,000)$0 - Off-set costs by selling ads $0 Misc Chamber, Regional, etc Sponsorshop $750 $0 $750 Marketing Collateral Misc Marketing Items and Pieces $5,000 $0 $5,000 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 TOTAL $26,500 ($20,000)$6,500 Town of Trophy Club, Texas FY2012 EDC-4B Budget Expense Accounts Economic Development Corporation 4B 11 of 35 July 9, 2012 Department:Line Item: EDC-4B Elections Description Explanation Target Costs Adjusted Costs Total Proposed Costs Sales Tax Reallocation Election Election to shift 1/4 cent from EDC-4A to EDC-4B $0 $9,000 $9,000 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 TOTAL $0 $9,000 $9,000 Town of Trophy Club, Texas FY2012 EDC-4B Budget Expense Accounts Economic Development Corporation 4B 12 of 35 July 9, 2012 Department:Line Item: EDC-4B Misc Expenses Description Explanation Target Costs Adjusted Costs Total Proposed Costs Website Hosting Annual cost to host ED portion of Town website $100 $100 Meeting Expenses ED Meeting Expenses $1,500 $0 $1,500 Development Luncheon Host Luncheon at TCCC for Developers and Businesses $2,000 $500 $2,500 Purchase Booth Set-Up Purchase 2 booth set - ups: 1 large tradeshow and 1 small pull- up banners booth $10,000 $10,000 ICSC Host $2,000 $2,000 ICSC Booth Materials Proportional Share of 30x30 booth space $750 $750 Logo/Website Launch $4,305 $4,305 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 TOTAL $3,600 $17,555 $21,155 Town of Trophy Club, Texas FY2012 EDC-4B Budget Expense Accounts Economic Development Corporation 4B 13 of 35 July 9, 2012 Department:Line Item: EDC-4B EDC Projects Description Explanation Target Costs Adjusted Costs Total Proposed Costs Merchandising Plan (Catalyst) Merchandising Analytics/Stat's/Demo's Update $0 $8,000 $8,000 Planning, Marketing & Design Costs to Plan, Market, or Design materials $23,706 ($23,706)$0 Projects related to creating incentives, ROW analysis, etc $40,000 $0 $40,000 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 TOTAL $63,706 ($15,706)$48,000 Town of Trophy Club, Texas FY2012 EDC-4B Budget Expense Accounts Economic Development Corporation 4B 14 of 35 July 9, 2012 Department:Line Item: EDC-4B Intergov Trans Out (I&S) Description Explanation Target Costs Adjusted Costs Total Proposed Costs Pool Bond 25% of $1.4M bond issue; EDC4A covers 75%$26,783 $26,783 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 TOTAL $26,783 $0 $26,783 Town of Trophy Club, Texas FY2012 EDC-4B Budget Expense Accounts Economic Development Corporation 4B 15 of 35 July 9, 2012 Department:Line Item: EDC-4B Intergov Trans Out (GF) Description Explanation Target Costs Adjusted Costs Total Proposed Costs Administration Support & Help ATM, Finance, Marketing, TS hours to provide to EDC-4B $27,697 $24,299 $51,996 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 TOTAL $27,697 $24,299 $51,996 Town of Trophy Club, Texas FY2012 EDC-4B Budget Expense Accounts Economic Development Corporation 4B 16 of 35 July 9, 2012 Department:Line Item: EDC-4B Office Supplies Description Explanation Target Costs Adjusted Costs Total Proposed Costs Misc Office Supplies High Quality Paper $1,000 $0 $1,000 Binding $0 Shipping/Mailing $0 $0 $0 Flash Drives $2,000 ($1,000)$1,000 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 TOTAL $3,000 ($1,000)$2,000 Town of Trophy Club, Texas FY2012 EDC-4B Budget Expense Accounts Economic Development Corporation 4B 17 of 35 July 9, 2012 Department:Line Item: EDC-4B Printing Description Explanation Target Costs Adjusted Costs Total Proposed Costs Outsource Printing Needs Project binders, development info, etc $2,000 $5,000 $7,000 Additional dollars attributed to printing ED Notebook $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 TOTAL $2,000 $5,000 $7,000 Town of Trophy Club, Texas FY2012 EDC-4B Budget Expense Accounts Economic Development Corporation 4B 18 of 35 July 9, 2012 100 Municipal Drive Trophy Club, Texas 76262Trophy Club Entities Legislation Details (With Text) File #: Version:12012-307-T Name: Status:Type:Agenda Item Regular Session File created:In control:7/6/2012 Economic Development Corporation 4B (EDC 4B) On agenda:Final action:7/9/2012 Title:Magazine overview. Attachments: Action ByDate Action ResultVer. Title Magazine overview. Economic Development Corporation 4B 19 of 35 July 9, 2012 100 Municipal Drive Trophy Club, Texas 76262Trophy Club Entities Legislation Details (With Text) File #: Version:12012-308-T Name: Status:Type:Agenda Item Regular Session File created:In control:7/6/2012 Economic Development Corporation 4B (EDC 4B) On agenda:Final action:7/9/2012 Title:Discuss and take appropriate action regarding engaging Creative Squall to assist with creating a Trophy Club economic development brochure. Attachments:EDC 4B Brochure Estimate.pdf Action ByDate Action ResultVer. Title Discuss and take appropriate action regarding engaging Creative Squall to assist with creating a Trophy Club economic development brochure. Economic Development Corporation 4B 20 of 35 July 9, 2012 507 Indian Creek Drive Trophy Club, Texas 76262 214-244-5011 tad@creativesquall.com www.creativesquall.com Job 12027 6-28-12 Trophy Club Economic Development Brochure Brief Description Design a comprehensive brochure featuring the economic development and growth in Trophy Club. The brochure will be printed and bound, in addition to being distributed digitally as a PDF. The brochure will feature images of businesses in the area including The Shops of Trophy Club, as well as businesses and attractions around the Trophy Club area. Maps will round out the visuals, and content will be marketing-centric selling the benefits of the town. Target Market The primary target is commercial and residential developers. The secondary target is realtors. Specifics • 25-80 pages depending on format at size • 5-10 graphs • 2-5 maps • Copy and images to be provided by April or Stephen • Possible foldout pages for maps • Explore binding (not saddle-stitching) Timing Schedule to be determined at start of the project. Deliverables 1-2 versions of cover and 2 interior spreads (including up to 2 rounds of revisions) Layout of full brochure including up to 2 rounds of revisions Final art will be delivered as press ready PDF Itemized Cost Account Coordination $200 Comps (1-2 versions of cover and 2 spreads w/ up to 2 rounds of rev.) $800-1500 Comp (25-80 pages including up to 2 rounds of revisions) $2500-4000 Mechanical (setting up for print) $500 Estimated Cost $4000-6200 The above estimated cost does not include any stock photography or outside production costs if needed. Fee Payment Schedule A 50% down payment is required to begin work. The final invoice must be paid in full before work and rights are released. Rights Transferred Creative Squall transfers to the Client the following exclusive rights of usage. Title or Product: Trophy Club Economic Development Brochure Category of Use: Advertising, corporate, promotional Medium of Use: Print, web, digital distribution Edition (if book): N/A Geographic Area: Worldwide Time Period: Unlimited The client may edit, repurpose or reuse any part of the magazine. Any transfer of rights is conditional upon receipt of full payment. Promotional Disclosure Design concepts and art will be displayed and used by Creative Squall to promote their creative services. Appropriate credit for creative work will appear with all design projects. Please mail the signed estimate with your down payment to the above address. Make checks payable to Creative Squall. Paypal payment is available for an additional processing fee. Economic Development Corporation 4B 21 of 35 July 9, 2012 Designer's Signature: ____________________________________________ Client Signature: _______________________________________________ Date: _________________________________________________________ 1. Time for Payment All invoices are payable within 30 days of receipt. A 1.5% monthly service charge is payable on all overdue balances. The grant of any license or right of copyright is conditioned on receipt of full payment. 2. Default in Payment The Client shall assume responsibility for all collection of legal fees necessitated by default in payment. 3. Estimates The fees and expenses shown are minimum estimates only. Final fees and expenses shall be shown when invoice is rendered. The Client's approval shall be obtained for any increases in fees or expenses that exceed the original estimate by 10% or more. 4. Changes The Client shall be responsible for making additional payments for changes requested by the Client in original assignment. However, no additional payment shall be made for changes required to conform to the original assignment description. The Client shall Creative Squall the first opportunity to make any changes. 5. Expenses The Client shall reimburse Creative Squall for all expenses arising from this assignment, including the payment of any sales taxes due on this assignment, and shall advance $0 to Creative Squall for payment of said expenses. 6. Cancellation In the event of cancellation of this assignment, ownership of all copyrights and the original artwork shall be retained by Creative Squall, and a cancellation fee for work completed, based on the contract price and expenses already incurred, shall be paid by the Client. 7. Ownership and Return of Artwork Creative Squall retains ownership of all original artwork, whether preliminary or final. Design concepts and art will be displayed and used by Creative Squall to promote their creative services. Appropriate credit for creative work will appear with all design projects. 8. Credit Lines Creative Squall and any other creators shall receive a credit line with any editorial usage. 9. Releases The Client shall indemnify Creative Squall against all claims and expenses, including reasonable attorney's fees, due to uses for which no release was requested in writing or for uses that exceed authority granted by a release. 10. Modifications Modification of the Agreement must be written, except that the invoice may include, and the Client shall pay, fees or expenses that were orally authorized in order to progress promptly with the work. 11. Warranty of Originality Creative Squall warrants and represents that, to the best of our knowledge, the work assigned hereunder is original and has not been previously published, or that consent to use has been obtained on an unlimited basis; that all work or portions thereof obtained through the undersigned from third parties is original or, if previously published, that consent to use has been obtained on an unlimited basis; that Creative Squall has full authority to make this agreement; and that the work prepared by Creative Squall does not contain any scandalous, libelous, or unlawful matter. This warranty does not extend to any uses that the Client or others may make of Creative Squall's product that may infringe on the rights of others. Client expressly agrees that it will hold Creative Squall harmless for all liability caused by the Client's use of Creative Squall's product to the extent such use infringes on the rights of others. 12. Limitation of Liability Client agrees that it shall not hold Creative Squall or our agents or employees liable for any incidental or consequential damages that arise from Creative Squall's failure to perform any aspect of the Project in a timely manner, regardless of whether such failure was caused by intentional or negligent acts or omissions of Creative Squall or a third party. 13. Claims Period Claims for defects, damages and/or shortages must be made by the Client in writing within a period of ten (10) days after delivery of all or any part of the Project. Failure to make such claim within the stated period shall constitute irrevocable acceptance and an admission that the Client fully complies with terms, conditions and specifications. 14. Proofing of Final Project Creative Squall shall make every effort to ensure the final product is free of any grammatical and spelling errors, before giving the final product to the Client. It is agreed that it is the Client's responsibility to ensure that there are no spelling or grammatical errors contained in the final product. It is agreed that Creative Squall is not responsible or held liable for any errors contained in the final product after the final product has been committed to print or posted in view of the public. 15. Dispute Resolution Any disputes in excess of $10,000 arising out of this Agreement shall be submitted to binding arbitration before a mutually agreed-upon arbitrator pursuant to the rules of the American Arbitration Association. The Arbitrator's award shall be final, and judgment may be entered in any court having jurisdiction thereof. The Client shall pay arbitration and court costs, reasonable attorney's fees, and legal interest on any award of judgment in favor of Creative Squall. 16. Acceptance of Terms The signature of both parties shall evidence acceptance of these terms. Terms Economic Development Corporation 4B 22 of 35 July 9, 2012 100 Municipal Drive Trophy Club, Texas 76262Trophy Club Entities Legislation Details (With Text) File #: Version:12012-309-T Name: Status:Type:Agenda Item Regular Session File created:In control:7/6/2012 Economic Development Corporation 4B (EDC 4B) On agenda:Final action:7/9/2012 Title:Discuss and take appropriate action regarding engaging Creative Squall to assist with creating tradeshow pop-up banners. Attachments:EDC 4B Pop-up Banner Estimate.pdf Action ByDate Action ResultVer. Title Discuss and take appropriate action regarding engaging Creative Squall to assist with creating tradeshow pop-up banners. Economic Development Corporation 4B 23 of 35 July 9, 2012 507 Indian Creek Drive Trophy Club, Texas 76262 214-244-5011 tad@creativesquall.com www.creativesquall.com Job 12028 6-29-12 Trophy Club Tradeshow Pop-up Banners Brief Description Design 3-4 pop-up banners for conventions, conferences and tradeshows that showcase the economic development in Trophy Club. The banners need to work side by side to create a backdrop, as well as individually for smaller events. Messaging will be concise. Target Market The primary target is commercial and residential developers. Specifics • 2' x 6' pop-up banner • 3-4 versions • Needs to work as a backdrop, and individually for flexibility in footprint size • 4/0 • Copy and images to be provided by April or Stephen Timing Schedule to be determined at start of the project. Deliverables 2-3 comps of 3-4 banner system (including up to 2 rounds of revisions) Final art will be delivered as press-ready PDFs Itemized Cost Account Coordination $150 2-3 Comps (including up to 2 rounds of revisions) $2400 Mechanical (setting up for print) $200 Estimated Cost $2750 The above estimated cost does not include any stock photography or outside production costs if needed. Fee Payment Schedule A 50% down payment is required to begin work. The final invoice must be paid in full before work and rights are released. Rights Transferred Creative Squall transfers to the Client the following exclusive rights of usage. Title or Product: Trophy Club Tradeshow Pop-up Banners Category of Use: Advertising, corporate, promotional Medium of Use: Print Edition (if book): N/A Geographic Area: Throughout the world Time Period: Unlimited The client may edit, repurpose or reuse any part of the magazine. Any transfer of rights is conditional upon receipt of full payment. Promotional Disclosure Design concepts and art will be displayed and used by Creative Squall to promote their creative services. Appropriate credit for creative work will appear with all design projects. Please mail the signed estimate with your down payment to the above address. Make checks payable to Creative Squall. Paypal payment is available for an additional processing fee. Economic Development Corporation 4B 24 of 35 July 9, 2012 Designer's Signature: ____________________________________________ Client Signature: _______________________________________________ Date: _________________________________________________________ 1. Time for Payment All invoices are payable within 30 days of receipt. A 1.5% monthly service charge is payable on all overdue balances. The grant of any license or right of copyright is conditioned on receipt of full payment. 2. Default in Payment The Client shall assume responsibility for all collection of legal fees necessitated by default in payment. 3. Estimates The fees and expenses shown are minimum estimates only. Final fees and expenses shall be shown when invoice is rendered. The Client's approval shall be obtained for any increases in fees or expenses that exceed the original estimate by 10% or more. 4. Changes The Client shall be responsible for making additional payments for changes requested by the Client in original assignment. However, no additional payment shall be made for changes required to conform to the original assignment description. The Client shall Creative Squall the first opportunity to make any changes. 5. Expenses The Client shall reimburse Creative Squall for all expenses arising from this assignment, including the payment of any sales taxes due on this assignment, and shall advance $0 to Creative Squall for payment of said expenses. 6. Cancellation In the event of cancellation of this assignment, ownership of all copyrights and the original artwork shall be retained by Creative Squall, and a cancellation fee for work completed, based on the contract price and expenses already incurred, shall be paid by the Client. 7. Ownership and Return of Artwork Creative Squall retains ownership of all original artwork, whether preliminary or final. Design concepts and art will be displayed and used by Creative Squall to promote their creative services. Appropriate credit for creative work will appear with all design projects. 8. Credit Lines Creative Squall and any other creators shall receive a credit line with any editorial usage. 9. Releases The Client shall indemnify Creative Squall against all claims and expenses, including reasonable attorney's fees, due to uses for which no release was requested in writing or for uses that exceed authority granted by a release. 10. Modifications Modification of the Agreement must be written, except that the invoice may include, and the Client shall pay, fees or expenses that were orally authorized in order to progress promptly with the work. 11. Warranty of Originality Creative Squall warrants and represents that, to the best of our knowledge, the work assigned hereunder is original and has not been previously published, or that consent to use has been obtained on an unlimited basis; that all work or portions thereof obtained through the undersigned from third parties is original or, if previously published, that consent to use has been obtained on an unlimited basis; that Creative Squall has full authority to make this agreement; and that the work prepared by Creative Squall does not contain any scandalous, libelous, or unlawful matter. This warranty does not extend to any uses that the Client or others may make of Creative Squall's product that may infringe on the rights of others. Client expressly agrees that it will hold Creative Squall harmless for all liability caused by the Client's use of Creative Squall's product to the extent such use infringes on the rights of others. 12. Limitation of Liability Client agrees that it shall not hold Creative Squall or our agents or employees liable for any incidental or consequential damages that arise from Creative Squall's failure to perform any aspect of the Project in a timely manner, regardless of whether such failure was caused by intentional or negligent acts or omissions of Creative Squall or a third party. 13. Claims Period Claims for defects, damages and/or shortages must be made by the Client in writing within a period of ten (10) days after delivery of all or any part of the Project. Failure to make such claim within the stated period shall constitute irrevocable acceptance and an admission that the Client fully complies with terms, conditions and specifications. 14. Proofing of Final Project Creative Squall shall make every effort to ensure the final product is free of any grammatical and spelling errors, before giving the final product to the Client. It is agreed that it is the Client's responsibility to ensure that there are no spelling or grammatical errors contained in the final product. It is agreed that Creative Squall is not responsible or held liable for any errors contained in the final product after the final product has been committed to print or posted in view of the public. 15. Dispute Resolution Any disputes in excess of $10,000 arising out of this Agreement shall be submitted to binding arbitration before a mutually agreed-upon arbitrator pursuant to the rules of the American Arbitration Association. The Arbitrator's award shall be final, and judgment may be entered in any court having jurisdiction thereof. The Client shall pay arbitration and court costs, reasonable attorney's fees, and legal interest on any award of judgment in favor of Creative Squall. 16. Acceptance of Terms The signature of both parties shall evidence acceptance of these terms. Terms Economic Development Corporation 4B 25 of 35 July 9, 2012 100 Municipal Drive Trophy Club, Texas 76262Trophy Club Entities Legislation Details (With Text) File #: Version:12012-310-T Name: Status:Type:Agenda Item Regular Session File created:In control:7/6/2012 Economic Development Corporation 4B (EDC 4B) On agenda:Final action:7/9/2012 Title:Website/logo update. Attachments: Action ByDate Action ResultVer. Title Website/logo update. Economic Development Corporation 4B 26 of 35 July 9, 2012 100 Municipal Drive Trophy Club, Texas 76262Trophy Club Entities Legislation Details (With Text) File #: Version:12012-311-T Name: Status:Type:Agenda Item Regular Session File created:In control:7/6/2012 Economic Development Corporation 4B (EDC 4B) On agenda:Final action:7/9/2012 Title:Discuss and take appropriate action regarding the May 2012 Financials. Attachments:May 2012 EDC 4B Financials.pdf Action ByDate Action ResultVer. Title Discuss and take appropriate action regarding the May 2012 Financials. Economic Development Corporation 4B 27 of 35 July 9, 2012 7/6/2012 11:56:00 AM Page 1 of 2 My Budget Report Town of Trophy Club, TX Account Summary For Fiscal: 2011-2012 Period Ending: 05/31/2012 Fiscal Activity Variance Favorable (Unfavorable) Percent Used Current Total Budget Period Activity Original Total Budget Fund: 15 - ECONOMIC DEVELOPMENT CORPORATION 4B Revenue Sales Tax - General 140,656.00 96,702.12 -43,953.88 -68.75 %13,774.7115-000-40300 140,656.00 Interest Income 1,000.00 0.00 -1,000.00 0.00 %0.0015-000-47000 1,000.00 Advertising Revenue 20,000.00 9,050.00 -10,950.00 -45.25 %0.0015-000-51010 20,000.00 Total Revenue:105,752.1213,774.71161,656.00 161,656.00 -55,903.88 -65.42 % Expense Auditing 1,000.00 0.00 1,000.00 0.00 %0.0015-951-60200 1,000.00 Advertising 21,500.00 500.00 21,000.00 2.33 %0.0015-951-63200 21,500.00 Schools & Training 2,320.00 1,765.99 554.01 76.12 %0.0015-951-63551 2,320.00 Dues & Membership 250.00 150.00 100.00 60.00 %100.0015-951-68100 250.00 Travel & per diem 6,800.00 2,395.58 4,404.42 35.23 %0.0015-951-68200 6,800.00 Office Supplies 3,000.00 872.00 2,128.00 29.07 %0.0015-951-70100 3,000.00 Miscellaneous Expense 8,600.00 2,250.00 6,350.00 26.16 %0.0015-951-79999 8,600.00 EDC Projects 63,706.00 5,944.60 57,761.40 9.33 %0.0015-951-87150 63,706.00 Transfer to General Fund 27,697.00 35,155.55 -7,458.55 126.93 %4,783.3715-951-99100 27,697.00 Transfer to Debt Service 26,783.00 9,640.88 17,142.12 36.00 %0.0015-951-99400 26,783.00 Total Expense:58,674.604,883.37161,656.00 161,656.00 102,981.40 36.30 % Total Fund: 15 - ECONOMIC DEVELOPMENT CORPORATION 4B:47,077.528,891.340.00 0.00 Report Total:8,891.34 47,077.520.00 0.00 Economic Development Corporation 4B 28 of 35 July 9, 2012 ECONOMIC DEVELOPMENT CORPORATION 4B FUND May 2012 8/12 Months (66.6% of Fiscal Year) REVENUES Sales Tax – As shown below, the Town’s total current year to date sales tax collections exceed the prior year to date sales tax collections by $96,339 (14.2%). FY 2011 FY 2012 Total 677,278$ 773,617$ 96,339$ Increase (Decrease) Year to Date Sales Tax Collections Below is a chart comparing sales tax collections for the prior and current years by month. The amounts illustrated represent total sales tax collections which include portions for the general fund (50%), EDC 4A (25%) and 4B (12.5%), and the street maintenance fund (12.5%). Current year sales tax collections have exceeded prior year collections in all months except October. (Additional Note: May collections are for March sales.) $- $20,000.00 $40,000.00 $60,000.00 $80,000.00 $100,000.00 $120,000.00 $140,000.00 Oct Nov Dec Jan Feb Mar Apr May Sales Tax Collections FY 2011 FY 2012 EXPENDITURES Transfer to General Fund – Monthly administrative fee related to increased economic development related meetings and contacts. Economic Development Corporation 4B 29 of 35 July 9, 2012 100 Municipal Drive Trophy Club, Texas 76262Trophy Club Entities Legislation Details (With Text) File #: Version:12012-312-T Name: Status:Type:Agenda Item Regular Session File created:In control:7/6/2012 Economic Development Corporation 4B (EDC 4B) On agenda:Final action:7/9/2012 Title:Discuss and take appropriate action regarding the June Minutes. Attachments:006 June 11 2012 Minutes.pdf Action ByDate Action ResultVer. Title Discuss and take appropriate action regarding the June Minutes. Economic Development Corporation 4B 30 of 35 July 9, 2012 MINUTES OF REGULAR SESSION FOR THE ECONOMIC DEVELOPMENT CORPORATION 4B BOARD LOCATION: 100 MUNICIPAL DRIVE, TROPHY CLUB, TEXAS Monday, June 11, 2012 6:30 PM STATE OF TEXAS§ COUNTY OF DENTON§ The Economic Development Corporation 4B of the Town of Trophy Club, Texas, met in Regular Session on June 11, 2012. The meeting was held within the boundaries of the Town and was open to the public. EDC 4B DIRECTORS PRESENT: Rebecca Shuman, Vice President Dean Murray, Secretary/Treasurer Larry Mundy, Director Randall Conn, Director STAFF AND GUEST(S) PRESENT: Stephen Seidel, Assistant Town Manager Bill Rose, Council Member Call to order and announce a quorum. Vice President Shuman, noting a quorum, called the regular session to order at 6:55 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. REGULAR SESSION 1. Update and discussion regarding the website and logo. Assistant Town Manager Seidel provided the Board with an update regarding the website progress. Staff is currently mapping the website design with each department and working on the content. The logo discussion and selection will be made later this fall after the conclusion of the Vision Trophy Club committee and website completion. 2. Budget overview and discussion. Assistant Town Manager Seidel provided the Board a preliminary budget for review and comment. The most signif icant change from previous years is the staff reimbursement. The Board discussed contributing more to the Town for staff reimbursement due to more staff time being specifically devoted to economic development initiatives, which will likely continue to increase. The budget public hearings will be held in July and August, with an August budget adoption. 3. Magazine update. Assistant Town Manager Seidel updated the Board on the magazine progress and printing deadline. The magazine should be completed and to the printer no later than the end of June for a July distribution. Economic Development Corporation 4B 31 of 35 July 9, 2012 4. Discuss and take appropriate action regarding the approval of the March 12, 2012 Regular Session meeting Minutes. Director Murray made a motion to accept the Minutes as presented. The motion was seconded by Director Mundy. Motion passed unanimously. 5. Discuss and take appropriate action regarding the approval of the April 9, 2012 Joint Town Council/EDC-4B meeting Minutes. Director Murray made a motion to accept the Minutes as presented. The motion was seconded by Director Mundy. Motion passed unanimously. 6. Discuss and take appropriate action regarding the approval of the following Monthly Financials: - March 2012 - April 2012 Director Conn made a motion to accept both sets of Financials as presented. The motion was seconded by Director Mundy. Motion passed unanimously. 7. Assistant Town Manager Update: - The Shops at Trophy Club - Plaza - Village - Trophy Wood - Commons Assistant Town Manager Seidel updated the Board on the various commercial properties and associated projects. 8. Adjourn Director Mundy motioned to adjourn. Director Conn seconded. Motion to adjourn carried unanimously. Meeting adjourned at 8:25 p.m. _____________________________ ____________________________ James Hicks, President Dean Murray, Treasurer/Secretary Economic Development Corporation 4B 32 of 35 July 9, 2012 100 Municipal Drive Trophy Club, Texas 76262Trophy Club Entities Legislation Details (With Text) File #: Version:12012-313-T Name: Status:Type:Agenda Item Regular Session File created:In control:7/6/2012 Economic Development Corporation 4B (EDC 4B) On agenda:Final action:7/9/2012 Title:Assistant Town Manager Update: - The Shops at Trophy Club - Plaza - Village - Trophy Wood - Commons Attachments: Action ByDate Action ResultVer. Title Assistant Town Manager Update: - The Shops at Trophy Club - Plaza - Village - Trophy Wood - Commons - ICSC Economic Development Corporation 4B 33 of 35 July 9, 2012 100 Municipal Drive Trophy Club, Texas 76262Trophy Club Entities Legislation Details (With Text) File #: Version:12012-314-T Name: Status:Type:Agenda Item Regular Session File created:In control:7/6/2012 Economic Development Corporation 4B (EDC 4B) On agenda:Final action:7/9/2012 Title:Next meeting date: Wednesday, August 22, 2012. Attachments: Action ByDate Action ResultVer. Title Next meeting date: Wednesday, August 22, 2012. Economic Development Corporation 4B 34 of 35 July 9, 2012 100 Municipal Drive Trophy Club, Texas 76262Trophy Club Entities Legislation Details (With Text) File #: Version:12012-315-T Name: Status:Type:Agenda Item Regular Session File created:In control:7/6/2012 Economic Development Corporation 4B (EDC 4B) On agenda:Final action:7/9/2012 Title:Adjourn. Attachments: Action ByDate Action ResultVer. Title Adjourn. Economic Development Corporation 4B 35 of 35 July 9, 2012