Agenda Packet EDC 4B 12/18/2018
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Economic Development Corporation 4B1 of 9Meeting Date: Tuesday, December 18, 2018
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Economic Development Corporation 4B2 of 9Meeting Date: Tuesday, December 18, 2018
1 Trophy Wood Drive
Town of Trophy Club
Trophy Club, Texas 76262
Legislation Details (With Text)
File #: Version:Name:
2018-587-T1
Type:Status:
Agenda ItemRegular Session
File created:In control:
12/14/2018Economic Development Corporation 4B (EDC 4B)
On agenda:Final action:
12/18/2018
Title:
Consider and take appropriate action regarding the EDC 4B minutes dated July 26, 2018.
Attachments:
Regular Session Minutes July 26 2018 - Revised.pdf
DateVer.Action ByActionResult
Consider and take appropriate action regarding the EDC 4B minutes dated July 26, 2018.
Economic Development Corporation 4B3 of 9Meeting Date: Tuesday, December 18, 2018
TOWN OF TROPHY CLUB
ECONOMIC DEVELOPMENT CORPORATION 4B REGULAR SESSION MINUTES
THURSDAY, JULY 26, 2018, 6:00 P.M.
LOCATION: 1 TROPHY WOOD DRIVE, TROPHY CLUB, TEXAS
COUNCIL CHAMBERS
The Economic Development Corporation (EDC) 4B of the Town of Trophy Club, Texas, met in a Joint Session on
Thursday, July 26, 2018. The meeting was held within the boundaries of the Town and was open to the public.
EDC 4B MEMBERS PRESENT:
Sean Bone President
Travis Inge Director
Steve Flynn Director
Chris Whipple Director
EDC 4B MEMBERS ABSENT:
Cory McDonald Vice President
Michael Richmond Secretary/Treasurer
Jared Hall Director
STAFF AND GUEST(S) PRESENT:
Rhylan Rowe Town Council Liaison
C. Nick Sanders Mayor
Greg Lamont Council Member, Place 5
Thomas M. Class, Sr. Town Manager
Patrick Arata Police Chief
Lisa Payne Town Planner
Holly Fimbres Town Secretary/RMO
Anita Otterson Administrative Assistant
John Zagurski Budget Manager
President Bone announced the date of Thursday, July 26, 2018, called the EDC 4B Regular Session meeting to order
and announced a quorum at 6:01 p.m.
CITIZEN PRESENTATIONS
Citizens are allowed four (4) minutes to address the Corporation regarding an item over which the Corporation has
policy or oversight authority as provided by Texas law, the ethics order, or other policy order.
There were no citizen presentations.
CONSENT AGENDA
1.Consider and take appropriate action regarding the EDC 4B minutes dated June 12, 2018.
2.Consider and take appropriate action regarding the Fourth Quarter Financials for Fiscal Year 2017.
3.Consider and take appropriate action regarding the First Quarter Financials for Fiscal Year 2018.
4.Consider and take appropriate action regarding the Second Quarter Financials for Fiscal Year 2018.
Motion:
Motion made by President Bone, seconded by Director Flynn, to approve the Consent Agenda Item No. 1 through
4.
Motion carried 4-0-0.
Economic Development Corporation 4B4 of 9Meeting Date: Tuesday, December 18, 2018
REGULAR SESSION
5.Fiscal Year 2019 Budget:
A)Conduct a Public Hearing regarding the proposed EDC 4B Budget for Fiscal Year 2019.
President Bone opened the public hearing at 6:03 p.m.
There was no one present that wished to speak.
President Bone closed the public hearing at 6:04 p.m.
B)Consider and take appropriate action regarding the proposed EDC 4B Budget for Fiscal Year 2019.
Budget Manager Zagurski provided a brief presentation that included Revenues and Expenses. He explained that
overall Revenue was doing well. There is a very strong Fund balance. Sales Tax revenue is down due to one-time
revenues from construction falling off. We will see a favorable increase in sales tax since there was a legislation
change requiring internet retailers to collect sales tax for the location that the purchase is delivered to or where
the credit card is linked to. He explained each of the Expense line items, most are very small expenditures and
routine items. Auditing and Schools and Training expenses are related to the STARS Report and audits. We need
to do a separate audit report for EDC4B. Advertising funds are used for promotional items – an example would be
when we post a RFP or give away items that we hand out to try to attract business to the Town. The largest
expense is $416,560 for EDC Projects. Three thousand dollars is allocated for the Alliance Development Forum
which is the largest economic development forum in our area. The balance of $413,000 is for the EDC4B parking
stth
and closed on July 12. We received 10 bids that we rated on a
garage at HG Sply. Bid packets went out June 1
criterion basis that included 239 spaces, 74 days to completion starting on Aug 31 finish on Oct. 26, 2018 which is
before HG Sply is slated to open. The Reyes Group was selected even though they weren’t the lowest bidder
because they had the highest score based on the criteria evaluated. Town Council Liaison Rowe noted that The
Reyes Group was only about 6% higher than the lowest bidder. The next largest expenditure is $205,000 for
Incentive Programs. $140,000 is for OTD and the balance of $65,000 is not allocated, but kept on the books every
year to for budgetary room. Overall there is a net decrease of $381,000 which is primarily due to the funding of
the parking lot construction but that doesn’t hurt the overall fund balance of $334,839 which is still above the
operating fund balance. Overall it leaves the Fund in a good place for next year when we will see increase in sales
tax.
Budget Manager Zagurski advised that overall Revenue was doing well____. Large Fund Balance. Professional
Outside Services, STARS Report and Auditing. He explained the items of expenses. Largest 416,563 EDC project, 3k
for Alliance Development Forum and 413k EDC 4B parking garage for HG Sply. Went for bid on June ___, 10 bids
total. Total of 239 places with 8 handicap spaces. Total timeline was 74 days. Start on August 31 and finish
October 26 and would be operational.
Council Member Rowe added that only 6 percent higher than the lowest bidder.
Budget Manager Zagurski two part incentive with OTD 140k per year. 65k incentive budgetary room. Overall net
decrease of _____. Healthy Fund Balance. Operating Fund Balance in good standing.
Motion:
Motion made by President Bone, seconded by Director Inge, to approve the proposed EDC4B Fiscal Year 2019
budget.
Motion carried 4-0-0.
6.Receive an update from Town Staff regarding the following Town developments:
HG Sply
PD30 - Trophy Club Town Center
Economic Development Corporation 4B5 of 9Meeting Date: Tuesday, December 18, 2018
Town Planner Payne provided an update to the Corporation and addressed questions; no action was taken.
HG Sply is checked daily by staff. They are on schedule for the CO to be issued in November 2018. They should be
finished in late October to meet that November deadline. PD30 broke ground on June 4, 2018. The development
of the infrastructure is ongoing and the installation of the sanitary sewer system and storm drains is nearing
completion. Staff is working with the developer’s engineer to resolve a problem with the proposed entrances off of
114 that are now blocked by power poles that weren’t on the original plans. Those access points may be moving
th
the retaining walls contained within the retail section were submitted and reviewed by staff.
slightly. On June 27
thrd
for the retaining walls. On July 3 plans were received for 5 retail shell buildings
Permits were issued on July 6
containing 47, 456 s.f. of retail space. The plan review process should be complete by the end of this week. The
rd
for property on
developer is also currently developing pad sites. November 2018. On time. Late October. July 3
the corner. Review completion by the end of the week.
ADJOURN
Motion:
Motion made by President Bone, seconded by Director Whipple to adjourn the meeting at 6:17 p.m.
Motion carried 4-0-0.
_____________________________________________ ___________________________________
Anita Otterson, Administrative Specialist Sean Bone, President, EDC 4B
Town of Trophy Club, Texas Town of Trophy Club, Texas
Economic Development Corporation 4B6 of 9Meeting Date: Tuesday, December 18, 2018
1 Trophy Wood Drive
Town of Trophy Club
Trophy Club, Texas 76262
Legislation Details (With Text)
File #: Version:Name:
2018-588-T1
Type:Status:
Agenda ItemRegular Session
File created:In control:
12/14/2018Economic Development Corporation 4B (EDC 4B)
On agenda:Final action:
12/18/2018
Title:
Consider and take appropriate action regarding the engineering proposal submitted by Muckleroy &
Falls.
Attachments:
MF Proposal Trophy Club Garage 11.20.18.pdf
DateVer.Action ByActionResult
Consider and take appropriate action regarding the engineering proposal submitted by Muckleroy & Falls.
Economic Development Corporation 4B7 of 9Meeting Date: Tuesday, December 18, 2018
Economic Development Corporation 4B8 of 9Meeting Date: Tuesday, December 18, 2018
1 Trophy Wood Drive
Town of Trophy Club
Trophy Club, Texas 76262
Legislation Details (With Text)
File #: Version:Name:
2018-589-T1
Type:Status:
Agenda ItemRegular Session
File created:In control:
12/14/2018Economic Development Corporation 4B (EDC 4B)
On agenda:Final action:
12/18/2018
Title:
Pursuant to the following designated sections of the Texas Government Code, Annotated, Chapter
551 (Texas Open Meetings Act), the Council will convene into executive session to discuss the
following:
A)Section 551.087 Deliberation regarding Economic Development Negotiations under
Subsection (1) to discuss or deliberate regarding commercial or financial information that the
governmental body has received from a business prospect that the governmental body seeks to have
locate, stay, or expand in or near the territory of the governmental body and with which the
governmental body is conducting economic development negotiations and Subsection (2) to
deliberate the offer of a financial or other incentive to a business prospect that the Town seeks to have
locate within the territory of the Town: Possible amendments to OTD Agreements
Attachments:
DateVer.Action ByActionResult
Pursuant to the following designated sections of the Texas Government Code, Annotated, Chapter 551 (Texas Open
Meetings Act), the Council will convene into executive session to discuss the following:
A)Section551.087DeliberationregardingEconomicDevelopmentNegotiationsunderSubsection(1)todiscussor
deliberateregardingcommercialorfinancialinformationthatthegovernmentalbodyhasreceivedfroma
businessprospectthatthegovernmentalbodyseekstohavelocate,stay,orexpandinorneartheterritoryofthe
governmentalbodyandwithwhichthegovernmentalbodyisconductingeconomicdevelopmentnegotiationsand
Subsection(2)todeliberatetheofferofafinancialorotherincentivetoabusinessprospectthattheTownseeks
to have locate within the territory of the Town: Possible amendments to OTD Agreements
Economic Development Corporation 4B9 of 9Meeting Date: Tuesday, December 18, 2018