04.18.2024 EDC MinutesTown of Trophy Club Economic Development Corporation Meeting Minutes
April 18, 2024,6:00 p.m., Regular Meeting
1 Trophy Wood Drive, Trophy Club, Texas 76262
CALL TO ORDER
President Mann called the meeting to order at 6:07 p.m.
EDC BOARD MEMBERS PRESENT
John Mann, President
Teri Addington, Vice President
Joseph Longo, Director
John Rybeck, Secretary
James Calaway, Director
EDC MEMBERS ABSENT
Scott Hinshaw
Andrew Borgan
STAFF PRESENT
Brandon Wright, Town Manager
Maggie McCormick-Krukowski, Records Anaylst
Dean Roggia, Town Attorney
Tamara Smith, Assistant to Town Manager
April Duvall, Director of Finance
PUBLIC COMMENTS
There were none.
REGULAR ITEMS
1. Consider approval of the February 27, 2024, Economic Development Corporation Regular
Meeting Minutes.
Director Longo moved to approve the meeting minutes dated February 27, 2024. Vice
President Addington seconded the motion.
VOTE ON THE MOTION
AYES: Mann, Addington, Longo, Rybeck, Calaway
NAYES: None
ABSENT: Hinshaw, Borgan
VOTE: 5-0-2
EDC Meeting Minutes —April 18, 2024 Page 2
2. Consider approval of the Thrive Business Grant program.
Tamara Smith, Assistant to the Town Manager, presented the Thrive Business Grant
Program with the changes suggested at the February 27, 2024, EDC Meeting as follows:
• Name Change: Seeking alternative suggestions due to board members'
reception of the term "revitalization." (Changed to Thrive Business Gramt )
• Matching Grant Amount Adjusted to 75%125%. (Page 5)
• Grant Cap: s20,000 without caps on other grant -eligible items. (Page 5)
• Application Review Time: Extended to 6o days. (Page io)
• Exclusion of Sales Tax Reimbursement. (Page g)
Zf ,
• Introduction of a second -tier review by the Town Manager before submission to
the Town Council. (Page io)
• Prioritization of established businesses over those operational for a year or
less. (Page 12)
• Retention of applications for up to 1 year if not approved in the current fiscal
year. (Page io)
• Possibility of approving multiple projects for businesses with additional
funding remaining. (Page 12)
• Requirement of two quotes with each application. (Page to)
1L TIA)MiY ("LIEN
Vice President Addington moved to approve the Thrive Business Grant program.
Director Rybeck seconded the motion.
VOTE ON THE MOTION
AYES: Mann, Addington, Longo, Rybeck, Calaway
NAYES: None
ABSENT: Hinshaw, Borgan
VOTE: 5-0-2
3. Update on the request for proposals for the small area plan of 54.2 acres of land located
near State Highway 114 Frontage Road and Trophy Wood Drive.
Tamara Smith, Assistant to the Town Manager, presented the Request for Proposal (RFP)
results for the Small Area Plan. She stated the Town requested proposals on March 25, 2024, for
properties located near State Hwy 114 Frontage Rd. and Trophy Wood Dr. The RFP closed on April
15, 2024, and two proposals were received.
Ms. Smith explained the next step would be to review the RFPs and asked members
interested in assisting in the review to email her. She stated the Board would review the
evaluation criteria at the next meeting and consider approval of a firm, subsequent to Town
Council approval on May 28, 2024.
EDC Meeting Minutes —April 18, 2024
EXECUTIVE SESSION/REGULAR SESSION
Page 3
Pursuant to the Open Meetings Act, Chapter 551, the EDC Board convened into a Closed Executive
Session at 6:29 p.m. and reconvened into Regular Session at 7:01 p.m. in accordance with the
Texas Government Code regarding:
Section 551.071 Consultation with the Town Attorney to seek legal advice regarding the first
amendment to the Trophy Table economic development agreement. NO ACTION WAS TAKEN.
ADOURN
President Mann adjourned the meeting at 7:02 p.m.
4o: n ann,�.resid n
V
John RybaK, Secretary