Minutes EDC 4B 07/26/2018 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 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.
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 overview of the EDC 4B Budget for Fiscal Year 2019. He explained that
overall Revenue was doing well and that the Sales Tax revenue was down due to the decline of one-time revenues
from construction. There was a favorable legislation change requiring internet retailers to collect sales tax for the
location that the purchase was delivered to, which would increase Sales Tax. He briefly went over each Expense
line items and stated that the budgeted $416,560 for EDC Projects was for the Alliance Development Forum
($3,000) and for parking lot improvements to serve Trophy Wood Business Center ($413,000). The bid process
began June 1, 2018 and closed on July 12, 2018. Ten bids were received and a comprehensive review of the bid
packages revealed that Reyes Group met all of the requirements, and submitted the lowest qualified bid based on
specific qualifications. There would be 239 spaces and work was expected to begin on August 31st with an
anticipated completion by October 26th.
Town Council Liaison Rowe noted that the Reyes Group was only about 6 percent higher than the lowest bidder.
Budget Manager Zagurski continued with Expenditures and commented that the budgeted $205,773 for Incentive
Programs was for an incentive with OTD and for future development incentives. He added that there was a net
decrease of$381,643, which was primarily due to the funding of the parking lot improvements, but the overall
Fund,Balance was$334,839.
Motion:
Motion made by President Bone, seconded by Director Inge, to approve the proposed EDC 4B Budget for Fiscal
Year 2019.
Motion carried 4-0-0.
6. Receive an update from Town Staff regarding the following Town developments:
• HG Sply
• PD30-Trophy Club Town Center
Town Planner Payne provided an update regarding HG Sply and advised that the development passed their
foundation and plumbing rough inspections. Staff would be meeting with the general contractor to confirm the
location of the kitchen and hood equipment. They have relocated the construction trailer and would be installing
screening to remain in compliance with their temporary use permit. The anticipated schedule for the certificate of
occupancy was November 2018.
Specific to PD 30, the development broke ground on June 4, 2018. The development of the infrastructure was
ongoing and the installation of the sanitary sewer system and storm drains was nearing completion. Staff was
working with the developer's engineer to resolve a conflict with the proposed entrances off State Highway 114 and
power poles that were not originally accounted for on the plans; therefore those access points may be slightly
moved. On June 27th, the plans for retaining walls, contained within the retail section, were submitted and have
been reviewed by Staff, and permits were issued on July 6th. On July 3rd, plans were received for five retail shell
buildings containing 47,456 square feet of retail space. The plan review process should be complete by the end of
this week. Additionally,the developer was also currently developing pad sites.
EDC 48 Regular Session Minutes July 26,2018 Page 2 of 3
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.
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Sean Bone, President, EDC 4B
Town of Trophy Club,Texas Town of Trophy Club,Texas
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EDC 4B Regular Session Minutes July 26,2018 Page 3 of 3