Agenda Packet EDC 4B 04/24/2017
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EDC 4BPage 1 of 41Meeting Date: Monday, April 24, 2017
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EDC 4BPage 2 of 41Meeting Date: Monday, April 24, 2017
Town of Trophy Club 100 Municipal Drive
Trophy Club, Texas 76262
Legislation Details (With Text)
File #:2017-159-T Version:1 Name:
Type:Agenda Item Status:Regular Session
File created:4/17/2017 In control:Economic Development Corporation 4B (EDC 4B)
On agenda:4/24/2017 Final action:
Title:Consider and take appropriate action regarding the November 14, 2016 Meeting Minutes.
Attachments:DRAFT - November 14 2016 Minutes.pdf
DateVer.Action ByActionResult
Consider and take appropriate action regarding the November 14, 2016 Meeting Minutes.
EDC 4BPage 3 of 41Meeting Date: Monday, April 24, 2017
MINUTES OF REGULAR SESSION FOR THE
ECONOMIC DEVELOPMENT CORPORATION 4B BOARD
LOCATION: 100 MUNICIPAL DRIVE, TROPHY CLUB, TEXAS
Monday, November 14, 2016
7:00 P.M.
STATE OF TEXAS
COUNTYOF DENTON
The Economic Development Corporation 4B of the Town of Trophy Club, Texas, met in Regular
Session on November 14, 2016. The meeting was held within the boundaries of the Town and
was open to the public.
CALL TO ORDER AND ANNOUNCE A QUORUM
President Greg Wilsoncalled the October 3, 2016, EDC4Bmeetingto order at 7:00p.m. and
announced a quorum present (5 members).
EDC 4B DIRECTOR(S) PRESENT:
Gregory Wilson President
Eric Jensen Vice President
Sean Bone Director
Michael Richmond Director
Cory McDonald Director
EDC 4B DIRECTOR(S) ABSENT:
Angela Newell Treasurer/Secretary
David Brod Director
STAFF AND GUEST(S) PRESENT:
Patrick Arata Acting Town Manager/Police Chief
Steven Glickman Assistant Town Manager
Robbie Killingsworth Recording Secretary
CITIZEN PRESENTATIONS
Citizens are allowed three (3) minutes to address the Board regarding an item over which the
Board has policy or oversight authority as provided by Texas law, the ethics order, or other
policy order.
President Greg Wilsonasked if there were any public requests to speak. No public requests
were turned in.
REGULAR SESSION
1. 2016-652-T Consider and take appropriate action by Economic Development
Corporation 4B (EDC 4B) to appoint a Treasurer/Secretary.
President Greg Wilson asked for a motion.
Motion by Vice President Eric Jensen, seconded by DirectorSean Boneto reappoint
Treasurer/Secretary Angela Newellas Treasurer/Secretaryof Economic Development
Corporation 4B(EDC 4B).
EDC 4BPage 4 of 41Meeting Date: Monday, April 24, 2017
President Greg Wilson asked for comments or questions from the directors.
President Greg Wilson asked for a vote.
Motion passed unanimously (5-0).
2. 2016-653-T Consider and take appropriate action regarding the October 3, 2016
Economic DevelopmentCorporation 4B (EDC 4B) minutes.
President Greg Wilson asked for a motion.
Motion by Vice President Eric Jensen, seconded by Director Sean Boneto approve the October
3, 2016 Economic Development Corporation 4B (EDC 4B) minutes.
President Greg Wilson asked for comments or questions from the directors.
President Greg Wilson asked for a vote.
Motion passed unanimously (5-0).
3. 2016-654-T Consider and take appropriate action regarding theAugust 2016
Financials and the September 2016 Financials.
Director Michael Richmond asked Assistant Town Manager, Steven Glickman for an update.
Update was given by Steven Glickman, Assistant Town Manager.
President Greg Wilson asked fora motion.
Motion by Vice President Eric Jensen, seconded by Director Sean Boneto approve the August
2016Financials and the September 2016 Financials as presented.
President Greg Wilson asked for any comments or questions from the directors.
President Greg Wilson asked fora vote.
Motion passed unanimously (5-0).
4. 2016-658-T Consider and take appropriate action regarding funding for video
project.
Update was given by Steven Glickman, Assistant Town Manager. Mr. Glickman commented
that there are a couple of items that the Chamber of Commerce has promotedthis year.
1.Joint video project (in which all members of the Chamber of Commerce
participated in).The cost is $2,500.
2.Optional video project. The cost estimate would be $7,500 for 2½ minute video.
(The participants are getting 50% off). Staff played a video for the Directors.This
was a short video which the City of Argyle did and would bevery similar to what
we would get.
November 14, 2016 EDC 4B Minutes Page 2 of 4
EDC 4BPage 5 of 41Meeting Date: Monday, April 24, 2017
Vice President Eric Jensenasked staff if there was a timeline for when a reply is needed on this
project. He was told staff has not been given a timeline and will checkon this tomorrow.
The directors discussed whether there was a need for a promotional/marketing video at this
time.
President Greg Wilson asked for a motion.
Motion by Vice President Eric Jensen, seconded by DirectorSean Boneto refund$2,500 for
completed joint video project; and not fund proposed optional video project.
President Greg Wilson asked for comments or questions from the directors.
President Greg Wilson asked for a vote.
Motion passed unanimously (5-0).
5. 2016-662-T Consider and take appropriate action regarding future meeting dates
and times.
Steven Glickman, Assistant Town Manager and directors discussed meeting dates, times, and
appropriate notice. Staff wanted to go over a plan and make sure directors were ok to continue
with a regularly scheduled meeting.
st
Regularly scheduled meeting: 1Monday of each month at 7:00 pm.
Email sent 17 days prior to next meeting as a reminder.
Email sent 17 days prior to next scheduled meeting to notify of CANCELLED meeting if
agenda only containsminutes and financials.
President Greg Wilson stated no action needed or taken on this item.
EXECUTIVE SESSION
6. 2016-655-T Pursuant to the following designated sections of the Texas
Government Code, Annotated, Chapter 551 (Texas Open Meetings
Act), the Board will convene into executive session to discuss the
following:
Section 551.087 Deliberations 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:
Potential Projects and Incentives
CONVENE INTO EXECUTIVE SESSION - 7:21P.M.
EXECUTIVE SESSION - CLOSED - 7:29P.M.
November 14, 2016 EDC 4B Minutes Page 3 of 4
EDC 4BPage 6 of 41Meeting Date: Monday, April 24, 2017
RECONVENE INTO REGULAR SESSION - 7:30P.M.
REGULAR SESSION
7. 2016-656-T Consider and take appropriate action regarding the Executive
Session.
President Greg Wilson stated no action needed or taken on this item.
8. 2016-657-T AssistantTown Manager Update:
Assistant Town Manager Steven Glickman provided updates and answered questions related to
the topics below:
Property Maintenance -
There is a cost to maintain 7+ acres. It cost a little over
$3,000 to clean up illegal dumping. The site was closed off after this was
discovered. We anticipate $150 per month to maintain/mow the property.
Bread Winners Café -
They postponedsoftopening scheduled forThursday -
th
November 10. We hope to hear this week of the reschedule date. We anticipate
it to open by the end of next week.
STARS Report -
The EDC4B approved the STARS Report in the current budget.
This is a tool that analyzes the confidential sales tax data, puts it into a usable
format, and allows us to analyze and view all of our sales tax generators in town.
This is currently being developed and should be online in the next 30 days.
ADJOURN
Motion by Director Sean Bone, seconded by Vice President Eric Jensento adjourn. Motion
passed unanimously (5-0).
The Board adjourned at 7:33P.M.
______________________________ _______________________________
Gregory Wilson, President Angela Newell, Treasurer/Secretary
November 14, 2016 EDC 4B Minutes Page 4 of 4
EDC 4BPage 7 of 41Meeting Date: Monday, April 24, 2017
Town of Trophy Club 100 Municipal Drive
Trophy Club, Texas 76262
Legislation Details (With Text)
File #:2017-160-T Version:1 Name:
Type:Agenda Item Status:Regular Session
File created:4/17/2017 In control:Economic Development Corporation 4B (EDC 4B)
On agenda:4/24/2017 Final action:
Title:Consider and take appropriate action regarding the January 23, 2017 Meeting Minutes.
Attachments:DRAFT - January 23 2017 Minutes.pdf
DateVer.Action ByActionResult
Consider and take appropriate action regarding the January 23, 2017 Meeting Minutes.
EDC 4BPage 8 of 41Meeting Date: Monday, April 24, 2017
MINUTES OF REGULAR SESSION FOR THE
ECONOMIC DEVELOPMENT CORPORATION 4B BOARD
LOCATION: 100 MUNICIPAL DRIVE, TROPHY CLUB, TEXAS
Monday, January 23, 2017 at 6:30 P.M.
Svore Municipal Building Boardroom
The Economic Development Corporation 4B of the Town of Trophy Club, Texas, met in a Regular Session on
Monday, January 23, 2017. The meeting was held within the boundaries of the Town and was open to the public.
STATE OF TEXAS §
COUNTY OF DENTON §
ECONOMIC DEVELOPMENT CORPORATION 4B MEMBERS PRESENT:
Eric Jensen Vice President
Angela Newell Treasurer/Secretary
Sean Bone Director
David Brod Director
Cory McDonald Director
Michael Richmond Director
ECONOMIC DEVELOPMENT CORPORATION 4B ABSENT:
Gregory Wilson President
STAFF AND GUEST(S) PRESENT:
Rylan Rowe Town Council Liaison
Steven Glickman Assistant Town Manager/CFO
Shannon Montgomery Acting Town Secretary
Lisa Reich Town Planner
Levi Hooten Architect & Designer
Chris Gordon Old Town Development
Justin Springfield Old Town Development
Vice President Jenson announced the date of Monday, January 23, 2017, called the EDC4B Board to order and
announced a quorum at 7:00 p.m.
CITIZEN PRESENTATIONS
Citizens are allowed three (3) minutes to address the Board regarding an item over which the Board has policy or
oversight authority as provided by Texas law, the ethics order, or other policy order.
There were no Citizen Presentations made.
REGULAR SESSION
Consider and take appropriate action regarding the December 13, 2016 Joint Session with Town Council
1.
meeting minutes.
Motion:
Motion made by Director Bone, seconded by Director Richmond, to approve the December 13, 2016 Joint Session
with Town Council meeting minutes as presented.
Motion passed unanimously.
EDC 4BPage 9 of 41Meeting Date: Monday, April 24, 2017
2.Consider and take appropriate action regarding the October 2016 Financials.
Motion:
Motion made by Director Bone, seconded by Director Newell, to approve the October 2016 Financials as
presented.
Motion passed unanimously.
3.Receive Acting Town Manager’s Update regarding the following; discussion and provide input regarding
same:
Parking Lot Update
Assistant Town Manager Glickman updated the Board and addressed questions; no action was taken.
EXECUTIVE SESSION
4.Pursuant to the following designated section of the Texas Government Code, Annotated, Chapter 551 (Texas
Open Meetings Act), the EDC 4B Board will convene into executive session to discuss the following:
A)Section 551.087 Deliberations regarding Economic Development Negotiations under Subsection (2) 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:
Potential Joint Development Agreement
B)Section 551.072 Deliberation regarding Real Property to discuss or deliberate the purchase, exchange,
lease, or value of real property if deliberation in an open meeting would have a detrimental effect on the
position of the governmental body in negotiations with a third person:
Possible Purchase or Sale of Real Estate
CONVENED INTO EXECUTIVE SESSION AT 7:04 P.M.
RECONVENED INTO REGULAR SESSION AT 8:10 P.M.
RECONVENE INTO REGULAR SESSION
5.Consider and take appropriate action regarding the Executive Session.
No action was taken on this item.
ADJOURN
Motion made by Director Bone, seconded by Director McDonald, to adjourn. Meeting adjourned at 8:10 p.m.
Motion passed unanimously.
_____________________________________________ ___________________________________
Shannon Montgomery, TRMC, Acting Town Secretary Eric Jensen, Vice President
Town of Trophy Club, Texas Town of Trophy Club, Texas
EDC4B RegularSession Minutes January 23, 2017 Page 2 of 2
EDC 4BPage 10 of 41Meeting Date: Monday, April 24, 2017
Town of Trophy Club 100 Municipal Drive
Trophy Club, Texas 76262
Legislation Details (With Text)
File #:2017-161-T Version:1 Name:
Type:Agenda Item Status:Regular Session
File created:4/17/2017 In control:Economic Development Corporation 4B (EDC 4B)
On agenda:4/24/2017 Final action:
Title:Consider and take appropriate action regarding the November 2016 Financials.
Attachments:11.16 Financial Report FY17 EDC4B.pdf
DateVer.Action ByActionResult
Consider and take appropriate action regarding the November 2016 Financials.
EDC 4BPage 11 of 41Meeting Date: Monday, April 24, 2017
Monthly Financial Statement
Photo Credit:
Mayor Pro Tem Lamont 2016
November 2016
EDC 4BPage 12 of 41Meeting Date: Monday, April 24, 2017
TOWN OF TROPHY CLUB
NOVEMBER 2016 FINANCIAL REPORT
ECONOMIC DEVELOPMENT COPORATION 4B
Percent of Budget Year Transpired:
Year-to-Date November 201617%
Original Revised
RevenueYear-to-DateVariance% Received
BudgetBudget
Sales Tax$ 447,509$ 447,509$ 76,883$ 370,62617%
Interest Income 1,500 1,500 317 1,18321%
Total Revenue$ 449,009$ 449,009$ 77,200$ 371,80917%
Original Revised
ExpensesYear-to-DateVariance% Used
BudgetBudget
Professional Outside Services$ 2,000 $ 2,000 $ -$ 2, 0000%
Auditing 1,000 1,000 - 1,0000%
Advertising 4,200 4,200 - 4,2000%
Printing 250 250 - 2500%
Schools & Training 1,000 1,000 - 1,0000%
Dues & Membership 1,050 1,050 - 1,0500%
Travel & Per Diem 422 422 - 4220%
Office Supplies 250 250 30 22012%
Miscellaneous Expense 3,500 3,500 3,500 -100%
EDC Projects 15,950 15,950 - 15, 9500%
Incentive Programs 206,820 206,820 23, 460 183,36011%
Paying Agent Fee 400 400 - 4000%
Debt Service 202,423 202,423 - 202,4230%
Total Expenses$ 439,265$ 439,265$ 26,990$ 412,2756%
Original Revised Operating
Working CapitalYear-to-Date
BudgetBudgetDays
Beginning Working Capital$ 544,191$ 544,191$ 544,191 446
+Net Increase (Decrease) 9,744 9,744 50, 210 41
Ending Working Capital$ 553,935$ 553,935$ 594,401$ 487
EDC 4BPage 13 of 41Meeting Date: Monday, April 24, 2017
TOWN OF TROPHY CLUB
NOVEMBER 2016 FINANCIAL REPORT
FY 2016FY 2017
EDC 4B Sales Tax Comparative
OCT$ 30,471$ 32,294
NOV$ 39,522$ 44,588
45,000
DEC$ 28,273
40,000
JAN$ 32,390
35,000
FEB$ 41,534
30,000
MAR$ 28,162
25,000
APR$ 26,920
FY 2016
20,000
MAY$ 31,562
FY 2017
15,000
JUN$ 30,272
10,000
JUL$ 32,667
5,000
AUG$ 36,701
0
SEP$ 35,256
EDC 4BPage 14 of 41Meeting Date: Monday, April 24, 2017
Town of Trophy Club 100 Municipal Drive
Trophy Club, Texas 76262
Legislation Details (With Text)
File #:2017-162-T Version:1 Name:
Type:Agenda Item Status:Regular Session
File created:4/17/2017 In control:Economic Development Corporation 4B (EDC 4B)
On agenda:4/24/2017 Final action:
Title:Consider and take appropriate action regarding the December 2016 Financials.
Attachments:12.16 Financial Report FY17 EDC4B.pdf
DateVer.Action ByActionResult
Consider and take appropriate action regarding the December 2016 Financials.
EDC 4BPage 15 of 41Meeting Date: Monday, April 24, 2017
Monthly Financial Statement
Photo Credit:
Mayor Pro Tem Lamont 2016
December 2016
EDC 4BPage 16 of 41Meeting Date: Monday, April 24, 2017
TOWN OF TROPHY CLUB
DECEMBER 2016 FINANCIAL REPORT
ECONOMIC DEVELOPMENT COPORATION 4B
Percent of Budget Year Transpired:
Year-to-Date December 201625%
Original Revised
RevenueYear-to-DateVariance% Received
BudgetBudget
Sales Tax$ 447,509$ 447,509$ 110,028$ 337,48125%
Interest Income 1,500 1,500 531 96935%
Total Revenue$ 449,009$ 449,009$ 110,559$ 338,45025%
Original Revised
ExpensesYear-to-DateVariance% Used
BudgetBudget
Professional Outside Services$ 2,000 $ 2,000 $ 500$ 1, 50025%
Auditing 1,000 1,000 - 1,0000%
Advertising 4,200 4,200 - 4,2000%
Printing 250 250 - 2500%
Schools & Training 1,000 1,000 - 1,0000%
Dues & Membership 1,050 1,050 - 1,0500%
Travel & Per Diem 422 422 - 4220%
Office Supplies 250 250 30 22012%
Miscellaneous Expense 3,500 3,500 3,500 -100%
EDC Projects 15,950 15,950 - 15, 9500%
Incentive Programs 206,820 206,820 35, 189 171,63117%
Paying Agent Fee 400 400 - 4000%
Debt Service 202,423 202,423 - 202,4230%
Total Expenses$ 439,265$ 439,265$ 39,219$ 400,0469%
Original Revised Operating
Working CapitalYear-to-Date
BudgetBudgetDays
Beginning Working Capital$ 544,191$ 544,191$ 544,191 446
+Net Increase (Decrease) 9,744 9,744 71, 340 58
Ending Working Capital$ 553,935$ 553,935$ 615,531$ 504
EDC 4BPage 17 of 41Meeting Date: Monday, April 24, 2017
TOWN OF TROPHY CLUB
DECEMBER 2016 FINANCIAL REPORT
EDC 4B Sales Tax Comparative
FY 2016FY 2017
OCT$ 30,471$ 32,294
45,000
NOV$ 39,522$ 44,588
40,000
DEC$ 28,273$ 33,146
35,000
JAN$ 32,390
30,000
FEB$ 41,534
25,000
MAR$ 28,162
FY 2016
20,000
APR$ 26,920
FY 2017
15,000
MAY$ 31,562
10,000
JUN$ 30,272
5,000
JUL$ 32,667
0
AUG$ 36,701
SEP$ 35,256
EDC 4BPage 18 of 41Meeting Date: Monday, April 24, 2017
Town of Trophy Club 100 Municipal Drive
Trophy Club, Texas 76262
Legislation Details (With Text)
File #:2017-163-T Version:1 Name:
Type:Agenda Item Status:Regular Session
File created:4/17/2017 In control:Economic Development Corporation 4B (EDC 4B)
On agenda:4/24/2017 Final action:
Title:Consider and take appropriate action regarding the January 2017 Financials.
Attachments:1.17 Financial Report FY17 EDC 4B.pdf
DateVer.Action ByActionResult
Consider and take appropriate action regarding the January 2017 Financials.
EDC 4BPage 19 of 41Meeting Date: Monday, April 24, 2017
Monthly Financial Statement
Photo Credit:
Mayor Pro Tem Lamont 2016
January 2017
EDC 4BPage 20 of 41Meeting Date: Monday, April 24, 2017
TOWN OF TROPHY CLUB
JANUARY 2017 FINANCIAL REPORT
ECONOMIC DEVELOPMENT COPORATION 4B
Percent of Budget Year Transpired:
Year-to-Date January 201733%
Original Revised
RevenueYear-to-DateVariance% Received
BudgetBudget
Sales Tax$ 447,509$ 447,509$ 143,151$ 304,35832%
Interest Income 1,500 1,500 791 70953%
Total Revenue$ 449,009$ 449,009$ 143,941$ 305,06832%
Original Revised
ExpensesYear-to-DateVariance% Used
BudgetBudget
Professional Outside Services$ 2,000 $ 2,000 $ 500$ 1, 50025%
Auditing 1,000 1,000 1,0000%
-
Advertising 4,200 4,200 4,2000%
-
Printing 250 250 2500%
-
Schools & Training 1,000 1,000 1,0000%
-
Dues & Membership 1,050 1,050 1,0500%
-
Travel & Per Diem 422 422 4220%
-
Office Supplies 250 250 30 22012%
Miscellaneous Expense 3,500 3,500 3,500100%
-
EDC Projects 15,950 15,950 17, 018 (1,068)107%
Incentive Programs 206,820 206,820 46, 918 159,90223%
Paying Agent Fee 400 400 4000%
-
Debt Service 202,423 202,423 202,4230%
-
Total Expenses$ 439,265$ 439,265$ 67,966$ 371,29915%
Original Revised Operating
Working CapitalYear-to-Date
BudgetBudgetDays
Beginning Working Capital$ 544,191$ 544,191$ 544,191 446
+Net Increase (Decrease) 9,744 9,744 75, 975 62
Ending Working Capital$ 553,935$ 553,935$ 620,166$ 508
Debris clean-up near Hampton Inn.
Temporary parking lot.
EDC 4BPage 21 of 41Meeting Date: Monday, April 24, 2017
TOWN OF TROPHY CLUB
JANUARY 2017 FINANCIAL REPORT
EDC 4B Sales Tax Comparative
FY 2016FY 2017
OCT$ 30,471$ 32,294
45,000
NOV$ 39,522$ 44,588
40,000
DEC$ 28,273$ 33,146
35,000
JAN$ 32,390$ 33,122
30,000
FEB$ 41,534
25,000
MAR$ 28,162
FY 2016
20,000
APR$ 26,920
FY 2017
15,000
MAY$ 31,562
10,000
JUN$ 30,272
5,000
JUL$ 32,667
0
AUG$ 36,701
SEP$ 35,256
EDC 4BPage 22 of 41Meeting Date: Monday, April 24, 2017
Town of Trophy Club 100 Municipal Drive
Trophy Club, Texas 76262
Legislation Details (With Text)
File #:2017-164-T Version:1 Name:
Type:Agenda Item Status:Regular Session
File created:4/17/2017 In control:Economic Development Corporation 4B (EDC 4B)
On agenda:4/24/2017 Final action:
Title:Consider and take appropriate action regarding the February 2017 Financials.
Attachments:2.17 Financial Report FY17 EDC 4B.pdf
DateVer.Action ByActionResult
Consider and take appropriate action regarding the February 2017 Financials.
EDC 4BPage 23 of 41Meeting Date: Monday, April 24, 2017
Monthly Financial Statement
Photo Credit:
Mayor Pro Tem Lamont 2016
February 2017
EDC 4BPage 24 of 41Meeting Date: Monday, April 24, 2017
TOWN OF TROPHY CLUB
FEBRUARY 2017 FINANCIAL REPORT
ECONOMIC DEVELOPMENT COPORATION 4B
Percent of Budget Year Transpired:
Year-to-Date February 201742%
Original Revised
RevenueYear-to-DateVariance% Received
BudgetBudget
Sales Tax$ 447,509$ 447,509$ 189,612$ 257,89742%
Interest Income 1,500 1,500 1,040 46069%
Total Revenue$ 449,009$ 449,009$ 190,652$ 258,35742%
Original Revised
ExpensesYear-to-DateVariance% Used
BudgetBudget
Professional Outside Services$ 2,000 $ 2,000 $ 500$ 1, 50025%
Auditing 1,000 1,000 - 1,0000%
Advertising 4,200 4,200 - 4,2000%
Printing 250 250 - 2500%
Schools & Training 1,000 1,000 - 1,0000%
Dues & Membership 1,050 1,050 - 1,0500%
Travel & Per Diem 422 422 - 4220%
Office Supplies 250 250 30 22012%
Miscellaneous Expense 3,500 3,500 3,500 -100%
EDC Projects 15,950 15,950 17, 018 (1,068)107%
Incentive Programs 206,820 206,820 58, 649 148,17128%
Paying Agent Fee 400 400 200 20050%
Debt Service 202,423 202,423 - 202,4230%
Total Expenses$ 439,265$ 439,265$ 79,897$ 359,36818%
Original Revised Operating
Working CapitalYear-to-Date
BudgetBudgetDays
Beginning Working Capital$ 544,191$ 544,191$ 561,247 460
+Net Increase (Decrease) 9,744 9,744 110,755 91
Ending Working Capital$ 553,935$ 553,935$ 672,002$ 551
Debris clean-up near Hampton Inn.
Temporary parking lot.
As of preliminary audit of FY15-16 CAFR.
EDC 4BPage 25 of 41Meeting Date: Monday, April 24, 2017
TOWN OF TROPHY CLUB
FEBRUARY 2017 FINANCIAL REPORT
EDC 4B Sales Tax Comparative
FY 2016FY 2017
OCT$ 30,471$ 32,294
50,000
NOV$ 39,522$ 44,588
45,000
DEC$ 28,273$ 33,146
40,000
JAN$ 32,390$ 33,122
35,000
FEB$ 41,534$ 46,461
30,000
MAR$ 28,162
25,000
FY 2016
APR$ 26,920
20,000
FY 2017
MAY$ 31,562
15,000
JUN$ 30,272
10,000
5,000
JUL$ 32,667
0
AUG$ 36,701
SEP$ 35,256
EDC 4BPage 26 of 41Meeting Date: Monday, April 24, 2017
Town of Trophy Club 100 Municipal Drive
Trophy Club, Texas 76262
Legislation Details (With Text)
File #:2017-166-T Version:1 Name:
Type:Agenda Item Status:Regular Session
File created:4/17/2017 In control:Economic Development Corporation 4B (EDC 4B)
On agenda:4/24/2017 Final action:
Title:Review and provide direction to Staff regarding the Trophy Wood District Request for Proposal.
Attachments:RFP.pdf
DateVer.Action ByActionResult
Review and provide direction to Staff regarding the Trophy Wood District Request for Proposal.
EDC 4BPage 27 of 41Meeting Date: Monday, April 24, 2017
Request for Proposal
EDC 4BPage 28 of 41Meeting Date: Monday, April 24, 2017
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EDC 4BPage 29 of 41Meeting Date: Monday, April 24, 2017
THE TROPHY
WOOD DISTRICT
Shaping the Future
The goal was simple: attract unique
development that will be an amenity to our
residents and the region. Since the end of the
recession, the Town of Trophy Club has seen
its residential population grow and remaining
developable land shrink. To take the reigns of
the Towns commercial future the Town Council
and EDC 4B purchased two of the largest pieces
of undeveloped land remaining in the Town
limits.
To aid in the development of the Trophy Wood
District, the Town created the tax increment
reinvestment zone #1 (TIRZ #1) with the
participation of Tarrant County.
Development in the Trophy Wood District is
booming. With the aid of a private developer,
the Town has attracted two unique dining
experiences to the area: Bread Winners Cafe &
Quarter Bar and HG Sply Co. Bread Winners Cafe
& Quarter Bar opened their doors in the fourth
quarter of 2016. HG Sply Co. had their site plan
approved by Council on March 28, 2017; they
plan on opening Spring 2018.
The area features three operating hotels:
Homewood Suites, Hampton Inn, and
WoodSpring Suites. These three hotels have a
combined capacity of 325 rooms. A fourth hotel
is under construction and will add an additional
123 rooms.
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EDC 4BPage 30 of 41Meeting Date: Monday, April 24, 2017
The Town of Trophy Club is well known
as a premiere residential community.
Through the past decade, the Towns
population has increased by over
50%. In 2007, the Towns population
was slightly under 8,000 residents;
now the population is close to 13,000
residents. The growth in housing has
only been outpaced by the increase in
commercial development of the SH 114
and Alliance corridors. The two largest
corporate developments coming to the
SH 114 corridor include Charles Schwab
Corporate campus which will bring
1,200 new jobs to the region over the
next ten years and the TD Ameritrade
campus which will house as many as
2,000 workers when open at the end of
2018.
The private sector is not the only group
investing heavily in the area. A myriad
of local, county, and state funding
has been put forward to improve the
infrastructure of the region. SH 114 has
a new three lane expansion spanning
from the SH 170 intersection to Solana
Blvd. On SH 170 main lanes are being
added from SH 114 to Roanoke Rd.
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EDC 4BPage 31 of 41Meeting Date: Monday, April 24, 2017
Average Disposable Income
Population Median Home Value
$115,000+$320,000+
Average Household
Daytime Population
Housing Units
Income
23,000+$115,00052,000+
111,000+
Vehicles per day
SH 114
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EDC 4BPage 32 of 41Meeting Date: Monday, April 24, 2017
Area Features
Hampton Inn & Suites
Homewood Suites
Trophy Club Town Hall
6
EDC 4BPage 33 of 41Meeting Date: Monday, April 24, 2017
HG Sply Co.
Bread Winners Cafe & Quarter Bar
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EDC 4BPage 34 of 41Meeting Date: Monday, April 24, 2017
Purpose of Solicitation
The Town of Trophy Club Economic Development
Corporation 4B (EDC 4B) is seeking a master
developer to construct a mixed use development
with a heavy emphasis on entertainment,
restaurant, and retail, along with a multi-level
parking structure.
#1
The EDC 4B, in conjunction with a private
developer has acted as the master developer for
the land and attracting two high end eateries
(Bread Winners Cafe & Quarter Bar and HG SPLY
CO.). The area is home to three hotels with a
fourth under construction.
#2
The main factors driving this project are the
desire of the community to create an amenity
for residents and guests to shop, eat, play, and
gather; to stimulate economic development
by adding new and unique businesses that
compliment the culture of the Town; and to
capture more local tax dollars that are currently
spent at businesses outside of Trophy Club.
The second phase of the Trophy Wood District will be constructed within the TIRZ #1 which is made up of two primary
5.46 acres of land along SH 114 with access to Trophy Wood Drive. Parcel 2 is approximately 2.12 acres of land along
Trophy Wood Drive, next to Trophy Clubs new Town Hall and a 123 room hotel, both currently under construction.
In order to be considered for this projet, the master developer must be highly seasoned in
successful creation of mixed-use environments on a scale comparable to that required. Due to
developing less than the entire project. However, the EDC will consider submittals from ventures
consisting of comercial developers that together can develop the project.
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EDC 4BPage 35 of 41Meeting Date: Monday, April 24, 2017
5. Public space for indoor/outdoor meetings
represent the current development opportunity, and events within the Trophy Wood District.
Phase 2, and will form the next piece of the
Urban Design
Trophy Wood District. The core area will be
developed with a mix of uses, a pedestrian-
oriented environment linked to surrounding 6. This area should enhance the Trophy
hotels, restaurants and the new Town Hall. Wood District as a walkable public space for
The key focus is the creation of a walkable residents, business employees, hotel guests,
entertainment rich district. and commercial consumers. People should
be attracted to this development, and in
In general, the following principles will guide
the development:surrounding businesses.
Economic / Financial
7. Development should be designed to present
an active face at pedestrian level both internally
1. The Town will not fund project activities and at the edges. Plazas should be incorporated
through the use of General Fund Resources. between and surrounding buildings to create
Tax increment, generated principally through desired meeting spaces.
the project, may be a source of funding if the
8. Plaza Drive should be extended into or around
2. The master developer will be expected to but also provide a pedestrian friendly corridor
build a muti-level parking structure. The Town is with outdoor seating, trees and landscaping,
open to a long term lease of the structure.enhanced hardscape, and other amenities.
Land Use
9. A zoning amendment to the PD Planned
Development No. 34 is likely.
3. Entertainment and Restaurant venues
4. Other Uses: Other complementary uses, such
as long as it is combined with the above uses
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EDC 4BPage 36 of 41Meeting Date: Monday, April 24, 2017
Criteria for selection
The Town of Trophy Club Economic Development Corporation 4B is seeking a master developer for the
Trophy Wood District. The development group could be a joint venture.
following criteria:
Demonstrated successful experience of the development entity (not consultants to that entity) in
planning, designing and developing mixed use commercial projects.
Demonstrated successful experience of the development entity (not consultants to that entity) in
negotiating complex real estate transactions with public entities.
Experience working with proponents and the public in a collaborative, non-confrontational manner.
cost in the range of $60 million or more.
Background and accomplishments of key members in the development group (not consultants) in
comparable projects.
Submittal Requirements.
Limitation and Waiver of Protest
By responding to this RFP, each proposer voluntarily and knowingly agrees as follows:
The EDC 4B and the Town may amend or terminate selection procedures at any time at
its sole discretion. Selection is at the sole discretion of the EDC 4B and the Town. The
EDC 4B and the Town are not obligated to enter into any agreement with any entity as
entity. The EDC 4B and the Town are not, under any circumstances, responsible for costs
borne by proposers for preparing responses to this solicitation, or any costs associated
with the selection process. Each proposer shall bear its own costs. Each proposer shall
hold the EDC 4B and the Town harmless from any and all liability, damage, claim, loss
and/or expense incurred by or on behalf of the proposer in connection with or relative
representing or purporting to represent proposers. All materials submitted in response
to this solicitation will become the property of the EDC 4B and the Town. By submitting
to this RFP, each proposer expressly waives any and all rights that it may have to object,
protest, or seek any legal remedies whatsoever regarding any aspect of this
RFP, including, without limitation, the EDC 4Bs selection of a developer, the EDC 4Bs
rejection of any or all submittals and any subsequent agreement that might be entered
into as a result of this RFP.
10
EDC 4BPage 37 of 41Meeting Date: Monday, April 24, 2017
Submittal Requirements
PROPOSAL IS DUE ________
Please provide of the following
1. Project Understanding: Provide a narrative regarding the project concept and illustrative plan that
demonstrates your understanding and response to development issues and the project, in general. The
similar accompaniments. The response should include a description of how you would work with the EDC
be implemented, and any other matters that you wish to call to the attention of the EDC.
4B and the Town
2. Key Entity / Team: Identity of the entity that would be the developer of the project: Company name,
legal status, address, phone, email and the primary contact for this solicitation. If a joint-venture,
provide information for each member of the venture and an indication of the lead entity for the project.
3. Background and Experience: Overall background and experience of the development entity (and any
4. Completed Projects: Identify three completed projects developed by the development entity that best
exemplify the capabilities of that entity to successfully complete the Town Center project. For each project,
provide the following: Name, location, designers/architects, mix of uses, background/history, absorption,
price points, key tenants, current sales/leasing status. Provide photographs or other renderings and
public agency contacts, if applicable.
5. Key Personnel: Identify key personnel who would be involved in the project and their proposed roles.
Provide resumes and professional references.
7. Project Financing: Identify hurdle rates of return that you will require to develop the project.
who can attest to the ability of your group to implement this project. Include name, contact information,
and nature of the association. At least two of the references provided should be for individuals associated
with any of the three projects noted in item 4, above. In the interest of fairness to all respondents, the EDC
4B and the Town
Any communication from prospective respondents should be delivered via email to the EDC
4B and the
, along with the original
Town and the Town
inquiry will be distributed to all developers to ensure that all parties have the full scope of information
available. Sources of these inquiries will not be disclosed.
11
EDC 4BPage 38 of 41Meeting Date: Monday, April 24, 2017
REQUEST FOR PROPOSAL
Deliver Submittals to:
Trophy Club Economic Development 4B
ATTN: RFP Response
Town of Trophy Club
100 Municipal Drive
Trophy Club, TX 76262
smontgomery@trophyclub.org
Tom Class
Town Manager
Town of Trophy Club
100 Municipal Drive
Trophy Club, TX 76262
tclass@trophyclub.org
682-831-4606
EDC 4BPage 39 of 41Meeting Date: Monday, April 24, 2017
Town of Trophy Club 100 Municipal Drive
Trophy Club, Texas 76262
Legislation Details (With Text)
File #:2017-167-T Version:1 Name:
Type:Agenda Item Status:Regular Session
File created:4/17/2017 In control:Economic Development Corporation 4B (EDC 4B)
On agenda:4/24/2017 Final action:
Title:Development Updates:
·HG Sply
Attachments:
DateVer.Action ByActionResult
Development Updates:
HG Sply
EDC 4BPage 40 of 41Meeting Date: Monday, April 24, 2017
Town of Trophy Club 100 Municipal Drive
Trophy Club, Texas 76262
Legislation Details (With Text)
File #:2017-168-T Version:1 Name:
Type:Agenda Item Status:Regular Session
File created:4/17/2017 In control:Economic Development Corporation 4B (EDC 4B)
On agenda:4/24/2017 Final action:
Title:Town Manager Updates:
·Annual Volunteer Reception - Friday, May 19, 2017
Attachments:
DateVer.Action ByActionResult
Town Manager Updates:
Annual Volunteer Reception - Friday, May 19, 2017
EDC 4BPage 41 of 41Meeting Date: Monday, April 24, 2017