02.25.2026 EDC MinutesTown of Trophy Club Economic Development Corporation Meeting Minutes
February 25, 2026, 6:00 p.m., Regular Meeting
1 Trophy Wood Drive, Trophy Club, Texas 76262
Vice President Pedersen called the meeting to order at 6:00 p.m.
EDC BOARD MEMBERS PRESENT
Allan Pedersen, Vice President
James Calaway, Secretary
Joseph Longo
Greg Fox
Garrett Wallace
EDC BOARD MEMBERS ABSENT
Teri Addington, President
Scott Hinshaw
STAFF PRESENT
Tamara Smith, Assistant Town Manager
Tammy Dixon, Town Secretary
April Duvall, Director of Finance
PUBLIC COMMENTS
There were none.
REGULAR ITEMS
1. Consider approval of the December 9, 2025, Economic Development Corporation meeting
minutes.
Secretary Calaway moved to approve the December 9, 2025, Economic Development
Corporation meeting minutes. Director Wallace seconded the motion.
VOTE ON THE MOTION
AYES: Addison, Pedersen, Longo, Fox, Wallace, Hinshaw, Calaway
NAPES: None
ABSENT: Addington, Hinshaw
VOTE: 5-0-2
2. Discuss state -compliant incentive programs for commercial projects.
Tamara Smith, Assistant Town Manager, presented an update regarding the Town Council's
direction from the January Council retreat related to economic development incentives. She
EDC Meeting Minutes — February 25, 2026 Page 2
stated that Council directed to prioritize the development of the undeveloped land within the
Small Area Plan. Catalyst Commercial will provide advisory services and market the available sites
to potential developers and will provide monthly executive reports identifying outreach efforts
and any prospective development interest. Due to the confidential nature of potential
development discussions, updates will be provided to the EDC Board in executive session.
Ms. Smith explained that available incentive funding could support potential development
agreements, including Chapter 380 agreements, land acquisition assistance, or sales tax
incentives, as determined appropriate by the Board. She also clarified that Catalyst's role is
limited to the Small Area Plan properties, while the EDC may consider incentives to address vacant
commercial spaces and support existing businesses with programs such as the Thrive Business
Grant program.
3. Discuss the Thrive Business Grant Program
Ms. Smith, presented an update on the Thrive Business Program and asked the EDC Board
to provide direction on whether to proceed with a third application cycle. She reported that the
program was originally funded with $300,000, with $76,521.21 reimbursed in Cycle One and
$25,775.05 approved in Cycle Two, leaving approximately $200,000 remaining. She also advised
that the program has a sunset date of fiscal year 2028.
Ms. Smith reviewed participation in previous cycles and explained that some applications
in Cycle Two were not approved because they involved operational expenses rather than
improvements consistent with the program"s intent. Board members discussed the level of
interest from local businesses, outreach efforts, and ways to improve communication about the
program's eligibility requirements.
The Board members expressed support for continuing the program and suggested
increased outreach to commercial areas and clearer guidance for applicants. Ms. Smith indicated
staff would prepare updated informational materials, coordinate outreach with Board members,
and develop a proposed schedule for a Cycle Three application period beginning in April with
potential approvals in June.
Vice President Pedersen adjourned the meeting at 6:16 p.m.
Teri Addington,, Presi nt
ATTEST:
C
V MagdWMcCormick-Krukowski
Records Coordinator/Assistant Town Secretary