Agenda Packet EDC 4A 01/28/2008Town of Trophy Club
Economic Development Corporation 4A Meeting Agenda
100 Municipal Drive
Trophy Club, Texas 76262
Monday, January 28, 2008
6:30 PM
A.1 Call to order and announce a quorum.
A.2 Discuss and take appropriate action to approve a resolution amending authorized
representatives on First Financial Bank and Texpool signature accounts.
A.3 Discuss and take appropriate action regarding the sharing of the future debt
service of the $1.4 million pool bond with EDC 4B and determine what monies
may be leveraged in the future for the creation of capital improvements.
A.4 Discuss and take appropriate action concerning the Town's need for the funding
of effluent water to Harmony Park in fiscal year 07/08. A.5 Discuss and Approve Financials
A. July 2007
B. August 2007
C. September 2007
D. October 2007
E. November 2007
A.6 EDC4A to discuss and take appropriate action on the eligibility requirements to
serve on the Board.
A.7 Staff to discuss and update the Board on current park projects.
A.8 Review and approve October 22, 2007 minutes.
A.9 Adjourn.
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EDC 4A MEMORANDUM
From: The Office of the Parks and Recreation Director Date: 1-28-2008
Subject: Agenda Item No.A.1
Call to order and announce a quorum.
EXPLANATION:
RECOMMENDATION:
ACTION BY BOARD:
(aa)
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4
EDC 4A MEMORANDUM
From: The Office of the Parks and Recreation Director Date: 1-28-2008
Subject: Agenda Item No.A.2
Discuss and take appropriate action to approve a resolution amending authorized
representatives on First Financial Bank and Texpool signature accounts.
EXPLANATION:
RECOMMENDATION:
ACTION BY BOARD:
(aa)
Attachments: Signature list
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EDC 4A MEMORANDUM
From: The Office of the Parks and Recreation Director Date: 1-28-2008
Subject: Agenda Item No.A.3
Discuss and take appropriate action regarding the sharing of the future debt service
of the $1.4 million pool bond with EDC 4B and determine what monies may be
leveraged in the future for the creation of capital improvements.
EXPLANATION:
The Town’s park study should be concluded by the beginning of summer. Based on the
results of that study combined with the new properties received from the Highland’s
development the Corporation needs to determine the amount of funds that could be
leveraged for future park projects. Currently EDC-4A has agreed to pay EDC-4B’s share
of the debt service in the amount of $27,000.00
RECOMMENDATION:
ACTION BY BOARD:
(aa)
Attachments:
7
EDC 4A MEMORANDUM
From: The Office of the Parks and Recreation Director Date: 1-28-2008
Subject: Agenda Item No.A.4
Discuss and take appropriate action concerning the Town's need for the funding of
effluent water to Harmony Park in fiscal year 07/08.
EXPLANATION:
The Town has secured the right for 45,000 gallons of effluent water per day from the
M.U.D. The project will cost between $45 -$60,000.00 and would save the Town more
than that within five to seven years. The Board needs to discuss the timetable for
funding such a project and provide an opinion regarding its support.
RECOMMENDATION:
ACTION BY BOARD:
(aa)
Attachments: Harmony Park Budget 07/08
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EDC 4A MEMORANDUM
From: The Office of the Parks and Recreation Director Date: 1-28-2008
Subject: Agenda Item No.A.5
Discuss and Approve Financials
A. July 2007
B. August 2007
C. September 2007
D. October 2007
E. November 2007
EXPLANATION:
RECOMMENDATION:
ACTION BY BOARD:
(aa)
Attachments: 1. July 2007 Financials
2. August 2007 Financials
3. September 2007 Financials
4. October 2007 Financials
5. November 2007 Financials
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EDC 4A MEMORANDUM
From: The Office of the Parks and Recreation Director Date: 1-28-2008
Subject: Agenda Item No.A.6
EDC4A to discuss and take appropriate action on the eligibility requirements to
serve on the Board.
EXPLANATION:
Director Twomey to discuss with the Board eligibility requirements for future clarification.
RECOMMENDATION:
ACTION BY BOARD:
(aa)
Attachments: 1. Resolution
2. Ordinance
36
EDC 4A MEMORANDUM
From: The Office of the Parks and Recreation Director Date: 1-28-2008
Subject: Agenda Item No.A.7
Staff to discuss and update the Board on current park projects.
EXPLANATION:
RECOMMENDATION:
ACTION BY BOARD:
(aa)
Attachments:
37
EDC 4A MEMORANDUM
From: The Office of the Parks and Recreation Director Date: 1-28-2008
Subject: Agenda Item No.A.8
Review and approve October 22, 2007 minutes.
EXPLANATION:
RECOMMENDATION:
ACTION BY BOARD:
(aa)
Attachments:
38
EDC 4A MEMORANDUM
From: The Office of the Parks and Recreation Director Date: 1-28-2008
Subject: Agenda Item No.A.9
Adjourn.
EXPLANATION:
RECOMMENDATION:
ACTION BY BOARD:
(aa)
Attachments: 1. Resolution
2. Ordinance