Minutes EDC 4B 05/13/2014MINUTES OF REGULAR SESSION FOR THE
ECONOMIC DEVELOPMENT CORPORATION 413 BOARD
LOCATION: 100 MUNICIPAL DRIVE, TROPHY CLUB, TEXAS
Monday, May 13, 2013
7:40 PM
STATE OF TEXAS
COUNTY OF DENTON
The Economic Development Corporation 4B of the Town of Trophy Club, Texas, met in Regular
Session on May 13, 2013. The meeting was held within the boundaries of the Town and was
open to the public.
EDC 4B DIRECTORS PRESENT:
James Hicks
President
Rebecca Shuman
Vice President
Sean Weaver
Director
Randall Conn
Director
Dave Brod
Director
STAFF AND GUEST(S) PRESENT:
Mike Slye
Town Manager
Stephen Seidel
Assistant Town Manager
April Reiling
Public Information Officer/Marketing Manager
Glenn Strother
Council Member Liaison
Call to order and announce a quorum.
President Hicks, noting a quorum of EDC 4B, called the regular session to order at 7:05 p.m.
REGULAR SESSION
Presentation and overview of new Town website.
PIOIMarketing Manager April Reiling provided an overview of the new website and answered
questions from the Board.
2. Discuss and take appropriate action regarding a contract to engage Bennett Benner Pettit
to develop two Tax Increment Reinvestment Zones in an amount not to exceed $70,000.
David Pettit, with the firm Bennett Benner Pettit, presented a Tax Increment Financing (TIF, also
known as Tax Increment Reinvestment Zones or TIRZ) overview and how it relates to economic
development. Mr. Pettit answered questions from the Board and provided several examples of
how TIF districts have worked in the DFW area.
Director Rebecca Shuman moved to accept the TIF development contract proposed by Bennett
Benner Pettit provided that:
- The contract is approved by the Town Council, and
- EDC 413 must remain involved throughout the duration of the contract, and
- An EDC 4B Director is a member of the TIF Board.
Motion seconded by Director Dave Brod. Motion passed unanimously.
3. Discuss and take appropriate action regarding development of an economic
development strategic plan.
Assistant Town Manager Seidel provided an update regarding the preliminary planning meeting
between Assistant Town Manager Seidel, President Hicks and Director Brod. Staff advised the
Board that there is a challenge with meeting at the Deloitte University campus due to security
issues and the open meetings act. Deloitte is a private facility and could cause issues with
stakeholders who wish to attend an open meeting. Staff will continue to look into the logistics
and other options regarding an off-site meeting location. President Hicks instructed the Board to
check calendars and email Assistant Town Manager Seidel available dates for a strategic
planning meeting. The Board keyed in on July 10 as a possibility.
4. Discuss FY14 budget initiatives and projects.
Assistant Town Manager Seidel advised the board that the FY14 Budget process has begun
and requested that the Board begin thinking about projects and/or initiatives that the Board
would like to see in the near future.
Director Rebecca Shuman suggested EDC 4B look at assisting the town with paying for
a professional staff member who has a focus on economic development. The Board
agreed that it should be an option they may want to consider.
Director Weaver suggested the Board consider a "project fund" line item where they
could allocate dollars for a potential project, incentive, etc. The Board agreed that this
may be an appropriate expense.
5. Discuss and take appropriate action regarding the April 15, 2013 Minutes.
Director Sean Weaver moved to approve the April 13, 2013 Minutes. Director Dave Brod
seconded. The motion passed unanimously.
G. Discuss and take appropriate action regarding the April 2013 Financials.
Assistant Town Manager Seidel explained that the April Financials reflect the new financing
change set forth in the November 2012 Special Election (flip EDC 4A and EDC 4B sales tax
allocation) with EDC 4B now receiving 1/2 cent. Director Rebecca Shuman moved to approve the
April 2013 financials as presented. Director Dave Brod seconded. The motion passed
unanimously.
7. Assistant Town 'Manager Update:
- Shops at Trophy Club
- Trophy Wood
- Village Center
- The Plaza
- The Commons
- Logo
Assistant Town Manager Stephen Seidel and Town Manager Mike Slye provided the Board
updates and answered questions related to various economic development events and
activities.
Director Rebecca Shuman left the meeting at 9:40 p.m.
8. Discuss and take appropriate action regarding the June meeting.
Assistant Town Manager Seidel might have a conflict on Monday, June 10 and requested the
Board look at calendars and left staff know whether they might be available on Tuesday, June
11.
Adjourn
Director Sean Weaver moved to adjourn at 9:51 p.m. Director Randall Conn seconded. The
motion passed unanimously.
times irks, Prest ent
Dean Murray, Treasurer/Secretary