Minutes EDC 4B 04/09/2007MINUTES OF REGULAR SESSION
ECONOMIC DEVELOPMENT CORPORATION 413
TOWN OF TROPHY CLUB
April 9, 2007
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 April 9, 2007. The meeting was held within the boundaries of the Town and
was open to the public.
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James Hicks
President
Doyle Nicholson
Vice -President
Larry E. Crosser
Director
Cy Holley
Director
Rebecca Shuman
Director
Glenn Strother
Director
DIRECTORS ABSENT:
Damian Olthoff Secretary
Philip Sterling Council Liaison
STAFF AND GUEST(S) PRESENT:
Beth Ann Gregory Community Development Director
Shannon DePrater Recording Secretary
Mayor Sanders Mayor, Town of Trophy Club
Andy Hayes MUD 2 Director
REGULAR SESSION
Call to order and announce a quorum.
President Hicks, noting a quorum, called the workshop to order at 6:40 p.m.
Open Public Hearing:
On the 9th day of April, 2007, 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
Municipal Utility District Building, 100 Municipal Drive, Trophy Club, Texas, 76262,
and on the 14th day of May, 2007, 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
Municipal Utility District Building, 100 Municipal Drive, Trophy Club, Texas, 76262, for
the purpose of considering various amendments to the fiscal year 2006-2007 budget.
There is a sixty (60) day period that begins March 23, 2007; the date of the first public
notice of the proposed project(s), during which the public may submit a petition with
any objections to the project(s). Please contact Beth Ann Gregory concerning any
questions: (682) 831-4606.
President Hicks opened the Public Hearing at 6:40 pm.
No Citizen input.
EDC B
April 9, 2007 Regular Session
Page 2 of 3
Close Public Hearing until May 14th, 2007.
President Hicks closed the public hearing at 6:40 p.m.
Discuss Buxton Group proposal and the implementation plan.
a. Address delegation of EDCB responsibilities for the implementation plan
b. Update on the implementation and timeline
c. Retail Survey
Director Crosser and Beth Ann Gregory met with Buxton to discuss the importance of using day
time population for the study.
Beth Ann Gregory stated that the Buxton project is still on track and between twenty and thirty
days we should receive the initial retail match list.
Mayor Sanders thanked the Board for their hard work.
Beth Ann Gregory shared the retail survey with the Board. The survey will run through the first
of May.
Discuss the request for the participation of Municipal Utility District 1 & 2 with the Town
in property tax abatements.
President Hicks shared that MUD 1 has committed to pay half of the Buxton study and wanted
to incorporate tax abatements and they will be voting on those at their next meeting.
President Hicks asked staff to email the board of the MUD meeting dates.
Discuss and receive update regarding the 2007-08 Budget related to pool expenditures.
Beth Ann Gregory relayed that the existing agreement for EDC 4A to pay the pool bond
expenditures was for one year only. EDC 4B will need to ask EDC 4A to pay the next payment.
President Hicks agreed to go to EDC 4A and ask EDC 4A to pay the remainder of the bond
payment or at least pay next fiscal year's payment.
Discuss and receive update regarding the retail survey.
Beth Ann Gregory updated the board in the previous Buxton Group agenda item.
Staff Updates:
a. Website
b. Development Activity
Beth Ann Gregory stated that the website is now live and shared that a press release went out
regarding economic initiatives, the retail survey and the website.
Approval of Meeting Minutes:
a. March 12, 2007
Director Holley made a motion to approve the March 12, 2007 minutes as amended with the
correct date in the heading. Director Crosser seconded; motion carried unanimously.
EDC B
April 9, 2007 Regular Session
Page 3 of 3
Approval of Financials (Additional information sent electronically)
a. February 2007
Director Crosser made a motion to approve the February Financials as amended. Director
Shuman seconded; motion carried unanimously.
The following amendments need to be made:
® Remove the * from Pool Operation and Devel Incentive/Midwest Reality line items
® Balance after Liabilities is incorrect, should be $105,895
Other business.
a. Next meeting scheduled for May 14, 2007 at 6:30 p.m.
Beth Ann Gregory shared that she would be at an Economic Development Seminar next week.
Adjourn regular session.
Director Strother made a motion to adjourn at 8:14 p.m. Director Shuman seconded; motion
carried unanimously.
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Jim i s Damian Olthoff