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Agenda Packet 7/11/2023Town of Trophy Club Meeting Agenda Economic Development 1 Trophy Wood Drive Trophy Club, Texas 76262 July 11, 2023 7:00 PM Council Chambers CALL TO ORDER AND ANNOUNCE A QUORUM PUBLIC COMMENTS This is an opportunity for citizens to address the Board on any matter.  The Board is not permitted to discuss or take action on any presentations made to the Board.  Presentations are limited to maters over which the Board has authority.  Speakers have up to four (4) minutes or the time limit determined by the presiding officer.  Each speaker must have submitted their request to speak by completing the Speaker’s Form or you may email terri.johnson@trophyclub.org. CONSENT AGENDA 1.Consider and take appropriate action to approve EDC 4B meeting minutes dated March 28, 2023 REGULAR SESSION 2.Consider and take appropriate action to approve the Fiscal Year 2023­2024 Budget  3.Discuss and consider a grant program EXECUTIVE SESSION 4.Pursuant to the following designated section of the Texas Governmental Code, Annotated, Chapter 551 (Texas Open Meetings Act), the EDC 4B will recess into executive session to discuss the following: a) Section 551.087 – Deliberate the Economic Development negotiations regarding a commercial prospect with the Town of Trophy Club b) Section 551.071 – Attorney­Client Privilege – Consultation with Town Attorney regarding a real estate and economic development opportunity RECONVENE INTO REGULAR SESSION ADJOURN The Board may convene into executive session to discuss posted items as allowed by the Texas Open Meeting Act, LGC.551.071. Notice is hereby given that a quorum of the Town of Trophy Club Town Council may be in attendance at this meeting. The Town Council will not deliberate or take any action. CERTIFICATION I certify that the above notice was posted on the bulletin board at Trophy Club Town Hall, 1 Trophy Wood Drive, Trophy Club, Texas, on Friday, July 7, 2023, by 5:00 P.M. in accordance with Chapter 551, Texas Government Code. ____________________________ Maggie McCormick­Krukowski Records Anaylst If you plan to attend this public meeting and have a disability that requires special needs, please contact the Town Secretary’s Office at 682­237­2900, 48 hours in advance and reasonable accommodations will be made to assist you. Town of Trophy ClubMeeting AgendaEconomic Development 1 Trophy Wood DriveTrophy Club, Texas 76262July 11, 2023 7:00 PM Council ChambersCALL TO ORDER AND ANNOUNCE A QUORUMPUBLIC COMMENTSThis is an opportunity for citizens to address the Board on any matter.  The Board is notpermitted to discuss or take action on any presentations made to the Board. Presentations are limited to maters over which the Board has authority.  Speakers haveup to four (4) minutes or the time limit determined by the presiding officer.  Each speakermust have submitted their request to speak by completing the Speaker’s Form or youmay email terri.johnson@trophyclub.org.CONSENT AGENDA1.Consider and take appropriate action to approve EDC 4B meeting minutes dated March28, 2023REGULAR SESSION2.Consider and take appropriate action to approve the Fiscal Year 2023­2024 Budget 3.Discuss and consider a grant programEXECUTIVE SESSION 4.Pursuant to the following designated section of the Texas Governmental Code, Annotated, Chapter 551 (Texas Open Meetings Act), the EDC 4B will recess into executive session to discuss the following: a) Section 551.087 – Deliberate the Economic Development negotiations regarding a commercial prospect with the Town of Trophy Club b) Section 551.071 – Attorney­Client Privilege – Consultation with Town Attorney regarding a real estate and economic development opportunity RECONVENE INTO REGULAR SESSION ADJOURN The Board may convene into executive session to discuss posted items as allowed by the Texas Open Meeting Act, LGC.551.071. Notice is hereby given that a quorum of the Town of Trophy Club Town Council may be in attendance at this meeting. The Town Council will not deliberate or take any action. CERTIFICATION I certify that the above notice was posted on the bulletin board at Trophy Club Town Hall, 1 Trophy Wood Drive, Trophy Club, Texas, on Friday, July 7, 2023, by 5:00 P.M. in accordance with Chapter 551, Texas Government Code. ____________________________ Maggie McCormick­Krukowski Records Anaylst If you plan to attend this public meeting and have a disability that requires special needs, please contact the Town Secretary’s Office at 682­237­2900, 48 hours in advance and reasonable accommodations will be made to assist you. TOWN OF TROPHY CLUB, TEXAS Annual Program of Services EDC 4B FY 2021  ACTUAL FY 2022  AMENDED FY 2022  ACTUAL FY 2023  AMENDED  BUDGET FY 2023  ESTIMATE FY 2024 PROPOSED FY 2025 PROJECTED FY 2026 PROJECTED Starting Net Position (32,312)$         212,994$      365,706$      229,725$      476,082$      526,606$      645,305$       $       768,412   Revenue    Sales Tax ‐ General  $        575,821  $     600,000  $     748,791  $     700,000  $     500,166  $     700,000  $     714,000  $       728,280     Interest Income ‐                        4,080             4,831             500                34,776          500                510                520                      Miscellaneous Revenue 64,106             53,625           ‐                      52,625           ‐                      52,625          51,625          50,625             Total Revenue 639,927$        657,705$      753,622$      753,125$      534,942$      753,125$      766,135$      779,425$          Expenses    Professional Outside Services  $            3,254  $        15,000  $                 ‐    $        50,000  $          5,000  $        50,000  $        51,000  $          52,020     Auditing 4,000               5,000             5,000             5,000             5,000             5,000             5,100             5,202                   Advertising ‐                        35,000          12,894          25,000          25,000          25,000          25,500          26,010                Printing ‐                        200                 ‐                      500                 ‐                      500                510                520                      Schools & Training ‐                        1,000              ‐                       ‐                       ‐                      3,000             3,060             3,121                   Dues & Membership ‐                        1,200              ‐                       ‐                       ‐                      2,500             2,550             2,601                   Travel & Per Diem ‐                        750                 ‐                       ‐                       ‐                      2,000             2,040             2,081                   Office Supplies ‐                        200                 ‐                       ‐                       ‐                      500                510                520                      Miscellaneous Expense 2,500               4,000             2,500             2,500             2,500             4,000             4,080             4,162                   Incentive Programs ‐                         ‐                       ‐                       ‐                       ‐                      300,000        306,000        312,120              Depreciation Expense ‐ EDC ‐                         ‐                      24,693           ‐                       ‐                          Bond Interest 106,926           ‐                      91,280           ‐                       ‐                       ‐                       ‐                       ‐                            Paying Agent Fees 600                  408                800                400                400                408                416                424                      Transfer to General Fund ‐                        40,000           ‐                      40,000          40,000          40,000          40,000          40,000                Transfer to General Fund/DSR 30,000              ‐                       ‐                       ‐                       ‐                          Transfer to Debt Service ‐                        200,257        (1)                   201,518        201,518        201,518        202,263        202,463           Total Expenses 147,280$        303,015$      137,166$      324,918$      279,418$      634,426$      643,029$      651,244$         Net Increase (Decrease) 398,018$        354,690$      616,456$      428,207$      255,524$      118,699$      123,106$      128,181$         Ending Net Position  $        365,706  $     567,685  $     982,162  $     657,933  $     731,606  $     645,305  $     768,412  $       896,594  Page 1 of 2 To: EDC 4B From: Patrick Arata, Town Manager CC: Tamara Smith, Assistant to the Town Manager Re: Grant Program Agenda Item: Discuss and consider a grant program. Strategic Link: Administrative & Financial-Exercise fiscal discipline in all Town operations. Background and Explanation: The Town of Trophy Club would like to start a discussion on a grant program for the EDC 4B Special Revenue Fund. The proposed grant program will provide businesses within the Town of Trophy Club Town limits the opportunity to apply for grants through the EDC for, but not limited to upgrades, advertisement, equipment, exterior signage, and road signage. The proposed program will require a yearly application evaluation and presentation to the EDC, a formal grant letter will present, and a quarterly financial report will be required. The details of the grant program will be dependent on the EDC and its requirements, restriction, and direction. Financial Considerations: Dependent on EDC 4B Board financial considerations. Legal Review: Not applicable Board/Commission/ or Committee Recommendation: Not applicable Staff Recommendation: Not applicable Page 2 of 2 Attachments: Not applicable