05.22.2025 EDC MinutesTown of Trophy Club Economic Development Corporation Meeting Minutes
May 22, 2025, 6:00 p.m., Regular Meeting
1 Trophy Wood Drive, Trophy Club, Texas 76262
President Addington called the meeting to order at 6:00 p.m.
EDC BOARD MEMBERS PRESENT
Teri Addington, President
James Calaway, Secretary
Greg Fox (Arrived at 6:02 p.m.)
Joseph Longo
Garrett Wallace
EDC BOARD MEMBERS ABSENT
Allan Pedersen., Vice President
Scott Hinshaw
STAFF PRESENT
Brandon Wright, Town Manager
Tammy Dixon, Town Secretary
Tamara Smith, Assistant to the Town Manager
April Duvall, Director of Finance
Matt Cox, Director of Community Development
PUBLIC COMMENTS
There were none.
REGULAR ITEMS
1. Consider approval of the April 3., 2025, Economic Development Corporation Meeting
Minutes.
Director Longo moved to approve the April 3, 2025, meeting minutes. Director Calaway
seconded the motion.
VOTE ON THE MOTION
AYES: Wallace, Addington, Longo, Calaway
NAPES: None
ABSENT: Pederson,, Hinshaw, Fox
VOTE: 4-0-3
2. Discuss the Thrive Business Grant Program. (Tamara Smith,, Assistant to the Town
Manager)
Tamara Smith, Assistant to the Town Manager, presented updates on Cycles I and 2 of the
Thrive Business Grant Program.
The board discussed the progress ofCycle 1projects, including one that passed inspection,
and the rescinding of an inactive application. For Cycle Z, they reviewed outreach efforts —such
as social media, newspaper ads, business visits, and Chamber of Commerce promotion —which
have resulted in early interest from new applicants. Board members were encouraged to assist
with further outreach using provided flyers and cards.
S. Discuss and provide feedback on the draft final plan document of The Grove atTC Small
Area Plan Project. (Tamara Smith, Assistant to the Town Manager)
Tamara Smith presented the draft final plan and summarized feedback received from
board members and staff.
The board discussed the need for improvements tothe layout, grammar, and overall
readability ofthe draft plan. Specific recommendations included enhancing visuals,, updating
outdated or unclear figures, reducing reliance on consultant recommendations, and clarifying the
market analysis and connectivity strategies. Feedback will be compiled and submitted to
McAdams for revisions, then brought back to the board for final review and approval prior to
submission tothe Town Council.
4. Discuss the Economic Development Corporation FY2O25-2O2G Budget. (Tamara Smith,
Assistant to the Town Manager)
Tamara Smith presented the proposed FY 2025-2026 EDC budget.
The board discussed the proposed revenue of$77Ei25O and expenditures of$74l,763.
They agreed toreduce Thrive Business Grant funding to$l5CLOOO1oallow continuation ofthe
program into next year and supported maintaining $150,,000 for a new Incentive Program. The
board emphasized'the importance of preserving flexibility for future opportunities, including
potential use of fund balance and TIRZ funding to support strategic initiatives in the small area
plan
U901AW
President Addington adjourned the meeting:at 6:.*2 p.m.
Teri Addington, President