Agenda Packet TC 10/22/2006 - Joint Workshop 1
TOWN OF TROPHY CLUB JOINT WORKSHOP BETWEEN TOWN COUNCIL AND
THE TROPHY CLUB MUNICIPAL UTILITY DISTRICT NO. 1
And TROPHY CLUB MUNICIPAL UTILITY DISTRICT NO. 2
dba TROPHY CLUB MASTER DISTRICT AND SPECIAL SESSION FOR THE TOWN
COUNCIL AND MASTER DISTRICT FOR THE TOWN OF TROPHY CLUB
SUNDAY, OCTOBER 22, 2006
1:00 P.M.
LOCATION: 100 MUNICIPAL DRIVE, TROPHY CLUB, TEXAS
A.1 Town Council to call to order and announce a quorum.
A.2 Master District to call to order and announce a quorum.
B.1 Joint workshop between Town Council and Master District to discuss water and
waste water services for all future development within the Town, including the
Highlands at Trophy Club.
C.1 Master District to discuss and take appropriate action to determine the payment
terms and sum to be paid by the Town of Trophy Club to the Trophy Club
Municipal Utility Districts for delivery of water and wastewater services to the
Highlands at Trophy Club, Town Council to respond to questions and discuss
same.
D.1 Town Council to Adjourn.
D.2 Master District to Adjourn.
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COUNCIL MEMORANDUM
From: The Office of the Town Manager Date: 10-22-2006
Subject: Agenda Item No.A.1
Town Council to call to order and announce a quorum.
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Master District
From: The Office of the Municipal Utility District Manager Date: 10-22-2006
Subject: Agenda Item No.A.2
Master District to call to order and announce a quorum.
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MEMORANDUM
From: The Office of the Town Manager and
Municipal Utility District Manager Date: 10-22-2006
Subject: Agenda Item No.B.1
Joint workshop between Town Council and Master District to discuss water
and waste water services for all future development within the Town,
including the Highlands at Trophy Club.
Attachments: 1. Letter from Centurion
2. Flowchart
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Item #1: Cash Settlement:
How much should the MUDs be paid by the Town in order to tie in to the current
infrastructure:
Is $3.8 million an acceptable number?
Yes, proceed to Item #2.
No. Discussion
Item #2: Payment Schedule:
What is an acceptable down payment?
Is the $540k offer proposed by centurion acceptable upon closing of the PID?
Yes, proceed to item #3.
No. Discussion
Item #3: Balance for the remaining $3.26 million:
Can the remaining $3.26 million be paid at the time of permitting?
Yes, $2300 per permit, proceed to Item #4
No. Discussion
Item #4: Permitting Timeline:
Will a guarantee of 150 permits per year (cumulative) be acceptable?
Yes, proceed to item #5
No, Discussion
Item #5: Penalties:
Is a 10% interest per annum acceptable if the remaining balance is not paid in 5 years
after the first permit is pulled?
Yes, proceed to conclusion
No.
Conclusion: The Town of Trophy Club will pay the Trophy Club MUDs a total of
$3.8 million to connect to the existing water and wastewater infrastructure owned
by the MUDs. A down payment of $540,000 will be made immediately following
the closing and funding of the Highland’s PID. The remaining balance of
$3,260,000 will be paid at a rate of $2300 per permit with a minimum of 150
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permits pulled annually. The number of permits will be cumulative beginning on
the date of the first permit. In the event that the remaining balance is not paid
within five years, an interest of 10% per annum will be assessed on the remaining
balance.
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MEMORANDUM
From: The Office of the Town Manager
and the Municipal Utility District Manager Date: 10-22-2006
Subject: Agenda Item No.C.1
Master District to discuss and take appropriate action to determine the
payment terms and sum to be paid by the Town of Trophy Club to the
Trophy Club Municipal Utility Districts for delivery of water and wastewater
services to the Highlands at Trophy Club, Town Council to respond to
questions and discuss same.
EXPLANATION:
RECOMMENDATION:
ACTION BY COUNCIL:
Attachments: 1. None
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MEMORANDUM
From: The Office of the Town Manager
and the Municipal Utility District Manager Date: 10-22-2006
Subject: Agenda Item No.D.1
Town Council to Adjourn.
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MEMORANDUM
From: The Office of the Town Manager
and the Municipal Utility District Manager Date: 10-22-2006
Subject: Agenda Item No.D .2
Master District to Adjourn.
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