Agenda Packet EDC 4B 04/04/2016
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Economic Development Corporation 4BPage 2 of 21Monday, April 4, 2016
Trophy Club Entities 100 Municipal Drive
Trophy Club, Texas 76262
Legislation Details (With Text)
File #:2016-199-T Version:1 Name:
Type:Agenda Item Status:Regular Session
File created:4/1/2016 In control:Economic Development Corporation 4B (EDC 4B)
On agenda:4/4/2016 Final action:
Title:Discuss and take appropriate action regarding the January 4, 2016 Minutes.
Attachments:001 January 4 2016 Minutes.pdf
DateVer.Action ByActionResult
Discuss and take appropriate action regarding the January 4, 2016 Minutes.
Economic Development Corporation 4BPage 3 of 21Monday, April 4, 2016
MINUTES OF REGULAR SESSION FOR THE
ECONOMIC DEVELOPMENT CORPORATION 4B BOARD
LOCATION: 100 MUNICIPAL DRIVE, TROPHY CLUB, TEXAS
Monday, January 4, 2016
7:00 p.m.
STATE OF TEXAS
COUNTY OF DENTON
The Economic Development Corporation 4B of the Town of TrophyClub, Texas, met in Regular
Session on January 4, 2016. The meeting was held within the boundaries of the Town and was
open to the public.
EDC 4B DIRECTORS PRESENT:
Gregory Wilson President
Eric Jensen Vice President
Angela Newell Treasurer/Secretaryarrived at 7:06pm
Sean Bone Director
Michael Richmond Director
Henry Brandt Director
EDC 4B DIRECTORS ABSENT:
Dave Brod Director
STAFF AND GUEST(S) PRESENT:
Rhylan Rowe Council Liaison
Stephen Seidel Town Manager
April Reiling Public Information Officer & Marketing Manager
PresidentGregory Wilson called the meetingto order and announced a quorumat7:05
p.m.
CITIZEN PRESENTATIONS
REGULAR SESSION
1.Consider and take appropriate action regarding the October 5, 2015 Minutes.
Motion byVice PresidentEricJensento approve the October 5, 2015 Minutes as presented.
Motion seconded by Director Sean Bone. Motion passed unanimously.
2.Discuss and take appropriate action regarding the August 2015 Financials.
Town Manager Stephen Seidel provided an overview of the August, September and October
2015 Financials and answered questions from the Board.
Motion by Director Sean Bone to approve the August2015 Financials as presented. Motion
seconded by Vice President Eric Jensen.
Motion by Vice President Eric Jensento amend the motion to includeSeptember and October
2015 Financialsto the previous motion. Motion passed unanimously.
Motion to approve August, September andOctober 2015 Financialspassed unanimously.
3.Discuss and take appropriate action regarding the September 2015 Financials.
Action handled in Agenda Item 2.
Economic Development Corporation 4BPage 4 of 21Monday, April 4, 2016
4.Discuss and take appropriate action regarding the October 2015 Financials.
Action handled in Agenda Item 2.
5.Consider and take appropriate action regarding an agreed termination of Service
Contract between the Town and Economic Development Corporation 4B for
payment of principal and interest for the construction of a municipal park and
swimming pool.
Town Manager Stephen Seidel provided an overview of the recent action taken by Town
Council to terminate the Services Contract with EDC 4B in order for the Board to focus on
economic development.
Motion by Director Sean Bone to terminate the Municipal Park/Pool Bond Services Contract.
Motion seconded by Treasurer/Secretary Angela Newell. Motion passed unanimously.
6.Old Town Development (OTD) update and discussion of the same.
Town Manager Stephen Seidel provided an update regarding Bread Winners/The Quarter Bar
and answered questions from the Board.
7.Town Manager Update:
- Trophy Club Town Center
- ICSC
- ADF
- Breadwinners Ground Breaking
Town Manager Stephen Seidel provided updates and answered questions related to the topics
above.
EXECUTIVE SESSION
8.Pursuant to Texas Government Code, Annotated, Subchapter 551, EDC 4B will
convene into closed executive session as authorized by:
Section 551.087 Deliberation Regarding Economic Development Negotiations to
discuss or deliberate the offer of financial or other incentives to a business
prospect that the Town seeks to have locate within the territory of the Town.
The Board convened into Executive Session at 7:28 p.m.
RECONVENE INTO REGULAR SESSION
The Board reconvened into Regular Session at 8:18p.m.
9.Consider and take appropriate action regarding the Executive Session.
Adjourn
Vice President Eric Jensenmotioned to adjourn. Motion seconded by DirectorHenry Brandt.
Motion passed unanimously. The Board adjourned at 8:18p.m.
Economic Development Corporation 4BPage 5 of 21Monday, April 4, 2016
__________________________________________________________
Gregory Wilson, President Angela Newell, Treasurer/Secretary
Economic Development Corporation 4BPage 6 of 21Monday, April 4, 2016
Trophy Club Entities 100 Municipal Drive
Trophy Club, Texas 76262
Legislation Details (With Text)
File #:2016-200-T Version:1 Name:
Type:Agenda Item Status:Regular Session
File created:4/1/2016 In control:Economic Development Corporation 4B (EDC 4B)
On agenda:4/4/2016 Final action:
Title:Discuss and take appropriate action regarding the November 2015 Financials.
Attachments:EDC 4B November Financial Report FY 15-16.pdf
DateVer.Action ByActionResult
Discuss and take appropriate action regarding the November 2015 Financials.
Economic Development Corporation 4BPage 7 of 21Monday, April 4, 2016
TOWN OF TROPHY CLUB
NOVEMBER 2015 FINANCIAL REPORT
ECONOMIC DEVELOPMENT COPORATION 4B
Year-to-Date NOVEMBER 2015Percent of Budget Year Transpired: 17%
Original Revised
RevenueYear-to-DateVariance% Received
BudgetBudget
Sales Tax$ 365,109$ 365,109$ 69,992$ 295,11719%
Interest Income 450 450 85 36519%
Total Revenue$ 365,559$ 365,559$ 70,077$ 295,48219%
Original Revised
ExpendituresYear-to-DateVariance% Used
BudgetBudget
Auditing$ 1,000 $ 1,000 $ -$ 1,000 0%
Advertising 5,200 5,200 - 5,2000%
Printing 500 500 - 5000%
Schools & Training 1,310 1,310 - 1,3100%
Dues & Membership 1,050 1,050 - 1,0500%
Travel & Per Diem 694 694 - 6940%
Office Supplies 250 250 - 2500%
Miscellaneous Expense 7,950 7,950 - 7,9500%
EDC Projects 3,750 3,750 - 3,7500%
Incentive Programs 140,773 140,773 23,462 117,31117%
Total Expenditures$ 162,477$ 162,477$ 23,462$ 139,01514%
Original Revised
Other UsesYear-to-DateVariance% Used
BudgetBudget
Transfer Out$ 208,473$ 208,473$ -$ 208,4730%
Total Other Uses$ 208,473$ 208,473$ - $ 208,4730%
Original Revised
Fund BalanceYear-to-Date
BudgetBudget
Beginning Fund Balance$ 490,480$ 490,480$ 490,480
+Net Increase (Decrease) (5,391) (5,391) 46,615
Ending Fund Balance$ 485,089$ 485,089$ 537,095
Based on Fiscal Year 2016 Adopted Budget.
Economic Development Corporation 4BPage 8 of 21Monday, April 4, 2016
TOWN OF TROPHY CLUB
NOVEMBER 2015 FINANCIAL REPORT
EDC 4B Sales Tax Comparative
FY 2015FY 2016
OCT$ 27,691$ 30,471
50,000
NOV$ 31,248$ 39,522
45,000
DEC$ 28,158
40,000
JAN$ 23,502
35,000
FEB$ 47,901
30,000
25,000
MAR$ 22,585
FY 2015
20,000
APR$ 25,324
FY 2016
15,000
MAY$ 30,767
10,000
JUN$ 29,324
5,000
JUL$ 27,479
0
AUG$ 32,881
SEP$ 27,851
Economic Development Corporation 4BPage 9 of 21Monday, April 4, 2016
Trophy Club Entities 100 Municipal Drive
Trophy Club, Texas 76262
Legislation Details (With Text)
File #:2016-201-T Version:1 Name:
Type:Agenda Item Status:Regular Session
File created:4/1/2016 In control:Economic Development Corporation 4B (EDC 4B)
On agenda:4/4/2016 Final action:
Title:Discuss and take appropriate action regarding the December 2015 Financials.
Attachments:EDC 4B December Financial Report FY 15-16.pdf
DateVer.Action ByActionResult
Discuss and take appropriate action regarding the December 2015 Financials.
Economic Development Corporation 4BPage 10 of 21Monday, April 4, 2016
TOWN OF TROPHY CLUB
DECEMBER 2015 FINANCIAL REPORT
ECONOMIC DEVELOPMENT COPORATION 4B
Year-to-Date December 2015Percent of Budget Year Transpired: 25%
Original Revised
RevenueYear-to-DateVariance% Received
BudgetBudget
Sales Tax$ 365,109$ 365,109$ 98,265$ 266,84427%
Interest Income 450 450 238 21253%
Total Revenue$ 365,559$ 365,559$ 98,504$ 267,05527%
Original Revised
ExpendituresYear-to-DateVariance% Used
BudgetBudget
Auditing$ 1,000 $ 1,000 $ -$ 1,000 0%
Advertising 5,200 5,200 - 5,2000%
Printing 500 500 - 5000%
Schools & Training 1,310 1,310 - 1,3100%
Dues & Membership 1,050 1,050 - 1,0500%
Travel & Per Diem 694 694 375 31954%
Office Supplies 250 250 - 2500%
Miscellaneous Expense 7,950 7,950 - 7,9500%
EDC Projects 3,750 3,750 - 3,7500%
Incentive Programs 140,773 140,773 35,193 105,58025%
Debt Service 208,473 208,473 - 208,4730%
Total Expenditures$ 370,950$ 370,950$ 35,568$ 335,38210%
Original Revised
Fund BalanceYear-to-Date
BudgetBudget
Beginning Fund Balance$ 490,480$ 490,480$ 490,480
+Net Increase (Decrease) (5,391) (5,391) 62,936
Ending Fund Balance$ 485,089$ 485,089$ 553,416
Based on Fiscal Year 2016 Adopted Budget.
Economic Development Corporation 4BPage 11 of 21Monday, April 4, 2016
TOWN OF TROPHY CLUB
DECEMBER 2015 FINANCIAL REPORT
EDC 4B Sales Tax Comparative
FY 2015FY 2016
OCT$ 27,691$ 30,471
50,000
NOV$ 31,248$ 39,522
45,000
DEC$ 28,158$ 28,273
40,000
JAN$ 23,502
35,000
FEB$ 47,901
30,000
MAR$ 22,585
25,000
FY 2015
APR$ 25,324
20,000
FY 2016
MAY$ 30,767
15,000
JUN$ 29,324
10,000
JUL$ 27,479
5,000
0 AUG$ 32,881
SEP$ 27,851
Economic Development Corporation 4BPage 12 of 21Monday, April 4, 2016
Trophy Club Entities 100 Municipal Drive
Trophy Club, Texas 76262
Legislation Details (With Text)
File #:2016-202-T Version:1 Name:
Type:Agenda Item Status:Regular Session
File created:4/1/2016 In control:Economic Development Corporation 4B (EDC 4B)
On agenda:4/4/2016 Final action:
Title:Discuss and take appropriate action regarding the January 2016 Financials.
Attachments:EDC 4B January Financial Report FY 15-16.pdf
DateVer.Action ByActionResult
Discuss and take appropriate action regarding the January 2016 Financials.
Economic Development Corporation 4BPage 13 of 21Monday, April 4, 2016
TOWN OF TROPHY CLUB
JANUARY 2016 FINANCIAL REPORT
ECONOMIC DEVELOPMENT COPORATION 4B
Year-to-Date January 2016Percent of Budget Year Transpired: 33%
Original Revised
RevenueYear-to-DateVariance% Received
BudgetBudget
Sales Tax$ 365,109$ 365,109$ 130,655$ 234,45436%
Interest Income 450 450 334 11674%
Total Revenue$ 365,559$ 365,559$ 130,990$ 234,56936%
Original Revised
ExpendituresYear-to-DateVariance% Used
BudgetBudget
Auditing$ 1,000 $ 1,000 $ -$ 1,000 0%
Advertising 5,200 5,200 - 5,2000%
Printing 500 500 - 5000%
Schools & Training 1,310 1,310 - 1,3100%
Dues & Membership 1,050 1,050 - 1,0500%
Travel & Per Diem 694 694 375 31954%
Office Supplies 250 250 - 2500%
Miscellaneous Expense 7,950 7,950 - 7,9500%
EDC Projects 3,750 3,750 - 3,7500%
Incentive Programs 140,773 140,773 46,924 93,849 33%
Debt Service 208,473 208,473 - 208,4730%
Total Expenditures$ 370,950$ 370,950$ 47,299$ 323,65113%
Original Revised
Fund BalanceYear-to-Date
BudgetBudget
Beginning Fund Balance$ 490,480$ 490,480$ 490,480
+Net Increase (Decrease) (5,391) (5,391) 83,690
Ending Fund Balance$ 485,089$ 485,089$ 574,170
Based on Fiscal Year 2016 Adopted Budget.
Economic Development Corporation 4BPage 14 of 21Monday, April 4, 2016
TOWN OF TROPHY CLUB
JANUARY 2016 FINANCIAL REPORT
EDC 4B Sales Tax Comparative
FY 2015FY 2016
OCT$ 27,691$ 30,471
NOV$ 31,248$ 39,522
50,000
DEC$ 28,158$ 28,273
45,000
40,000
JAN$ 23,502$ 32,390
35,000
FEB$ 47,901
30,000
MAR$ 22,585
25,000
FY 2015
APR$ 25,324
20,000
MAY$ 30,767
FY 2016
15,000
JUN$ 29,324
10,000
JUL$ 27,479
5,000
AUG$ 32,881
0
SEP$ 27,851
Economic Development Corporation 4BPage 15 of 21Monday, April 4, 2016
Trophy Club Entities 100 Municipal Drive
Trophy Club, Texas 76262
Legislation Details (With Text)
File #:2016-203-T Version:1 Name:
Type:Agenda Item Status:Regular Session
File created:4/1/2016 In control:Economic Development Corporation 4B (EDC 4B)
On agenda:4/4/2016 Final action:
Title:Discuss and take appropriate action regarding the February 2016 Financials.
Attachments:EDC 4B February Financial Report FY15-16.pdf
DateVer.Action ByActionResult
Discuss and take appropriate action regarding the February 2016 Financials.
Economic Development Corporation 4BPage 16 of 21Monday, April 4, 2016
TOWN OF TROPHY CLUB
FEBRUARY 2016 FINANCIAL REPORT
ECONOMIC DEVELOPMENT COPORATION 4B
Year-to-Date February 2016Percent of Budget Year Transpired: 42%
Original Revised
RevenueYear-to-DateVariance% Received
BudgetBudget
Sales Tax$ 365,109$ 365,109$ 172,190$ 192,91947%
Interest Income 450 450 430 2095%
Total Revenue$ 365,559$ 365,559$ 172,619$ 192,94047%
Original Revised
ExpendituresYear-to-DateVariance% Used
BudgetBudget
Auditing$ 1,000 $ 1,000 $ -$ 1,000 0%
Advertising 5,200 5,200 - 5,2000%
Printing 500 500 - 5000%
Schools & Training 1,310 1,310 - 1,3100%
Dues & Membership 1,050 1,050 - 1,0500%
Travel & Per Diem 694 694 375 31954%
Office Supplies 250 250 - 2500%
Miscellaneous Expense 7,950 7,950 - 7,9500%
EDC Projects 3,750 3,750 3,500 25093%
Incentive Programs 140,773 140,773 58, 655 82, 11842%
Debt Service 208,473 208,473 51, 736 156,7370%
Total Expenditures$ 370,950$ 370,950$ 114,267$ 256,68331%
TC Event Center competitive study.
Original Revised
Fund BalanceYear-to-Date
BudgetBudget
Beginning Fund Balance$ 490,480$ 490,480$ 490,480
+Net Increase (Decrease) (5,391) (5,391) 58, 353
Ending Fund Balance$ 485,089$ 485,089$ 548,833
Based on Fiscal Year 2016 Adopted Budget.
Economic Development Corporation 4BPage 17 of 21Monday, April 4, 2016
TOWN OF TROPHY CLUB
FEBRUARY 2016 FINANCIAL REPORT
FY 2015FY 2016
EDC 4B Sales Tax Comparative
OCT$ 27,691$ 30,471
NOV$ 31,248$ 39,522
50,000
DEC$ 28,158$ 28,273
45,000
JAN$ 23,502$ 32,390
40,000
FEB$ 47,901$ 41,534
35,000
MAR$ 22,585
30,000
APR$ 25,324
25,000
FY 2015
MAY$ 30,767
20,000
FY 2016
15,000
JUN$ 29,324
10,000
JUL$ 27,479
5,000
AUG$ 32,881
0
SEP$ 27,851
Economic Development Corporation 4BPage 18 of 21Monday, April 4, 2016
Trophy Club Entities 100 Municipal Drive
Trophy Club, Texas 76262
Legislation Details (With Text)
File #:2016-204-T Version:1 Name:
Type:Agenda Item Status:Regular Session
File created:4/1/2016 In control:Economic Development Corporation 4B (EDC 4B)
On agenda:4/4/2016 Final action:
Title:Trophy Club Town Center (PD-30) update and discussion of the same.
Attachments:
DateVer.Action ByActionResult
Trophy Club Town Center (PD-30) update and discussion of the same.
Economic Development Corporation 4BPage 19 of 21Monday, April 4, 2016
Trophy Club Entities 100 Municipal Drive
Trophy Club, Texas 76262
Legislation Details (With Text)
File #:2016-205-T Version:1 Name:
Type:Agenda Item Status:Regular Session
File created:4/1/2016 In control:Economic Development Corporation 4B (EDC 4B)
On agenda:4/4/2016 Final action:
Title:Alliance Development Forum (ADF) update and discussion of the same.
Attachments:
DateVer.Action ByActionResult
Alliance Development Forum (ADF) update and discussion of the same.
Economic Development Corporation 4BPage 20 of 21Monday, April 4, 2016
Trophy Club Entities 100 Municipal Drive
Trophy Club, Texas 76262
Legislation Details (With Text)
File #:2016-206-T Version:1 Name:
Type:Agenda Item Status:Regular Session
File created:4/1/2016 In control:Economic Development Corporation 4B (EDC 4B)
On agenda:4/4/2016 Final action:
Title:Town Manager Update:
- Meat U Anywhere BBQ
- Wonderland Montessori School & Retail Center
- Trophy Wood District
- Town Hall Groundbreaking
Attachments:
DateVer.Action ByActionResult
Town Manager Update:
- Meat U Anywhere BBQ
- Wonderland Montessori School & Retail Center
- Trophy Wood District
- Town Hall Groundbreaking
Economic Development Corporation 4BPage 21 of 21Monday, April 4, 2016