Minutes EDC 4A 06/11/2007 - Joint SessionMINUTES OF JOINT SESSION
with
ECONOMIC DEVELOPMENT CORPORATION 4A
and
REGULAR SESSION of the
ECONOMIC DEVELOPMENT CORPORATION 48
JUNE 11,2007
6:30 PM
STATE OF TEXAS
COUNTY OF DENTON
The Economic Development Corporation 4A and Economic Development Corporation 4B of the
Town of Trophy Club,Texas,met in a Regular Session on June 11,2007.The meeting was
held within the boundaries of the Town and was open to the pUblic.
DIRECTORS PRESENT:
James Hicks
Damian Olthoff
larry E.Crosser
Rebecca Shuman
Glenn Strother
Philip Sterling
JD Harvey
Richard Bell
DWight Morrow
Neil Twomey
leland Wilhelm
EDC DIRECTORS ABSENT:
Cy Holley
Doyle Nicholson
STAFF AND GUEST(S)PRESENT:
Brandon Emmons
Sakura Moten Dedrick
Adam Adams
Shannon DePrater
Jim Moss
JOINT SESSION
EDC 4B President
EDC 4B Secretary
EDC 4B Director
EDC 4B Director
EDC 4B Director arrived at 7:20 p.m.
EDC 4B Council Liaison
EDC 4A President
EDC 4A Director
EDC 4A Vice-President left at 7:03 p.m.
EDC 4A Secretaryrrreasurer
EDC 4A Director
EDC 4B Director
EDC 4B Vice-President
Town Manager
Finance Director
Parks and Recreation Director
Staff Liaison
Council Member
EDC 4A call to order and announce a quorum.
President Harvey,noting a quorum of EDC 4A,called the joint session to order at 6:40 p.m.
EDC 48 call to order and announce a quorum.
President Hicks,noting a quorum of EDC 4B,called the joint session to order at 6:40 p.m.
The next two items were discussed jointly:
EDC 48 to give presentation of 8uxton Company Project and future operational needs.
EDC 4A to discuss and approve the expenditure of the EDC 48 fiscal year 07-08 pool bond
payment in the projected amount of $27,014.
EDCA&EDCB
June 11,2007 Joint Session
Page 2 of 3
Director Twomey asked if the hotel/motel tax would be offsetting any of EDC 4B's advertising costs.
Brandon Emmons stated that we will be operating the hotel/motel tax one year in arrears.The Town does
not have any expectations to fund expenses from the hotel/motel tax during FY07/08 because we have
no accurate projections of what the funds will entail.Sakura Dedrick stated that she is projecting only ten
months,December to September using a Value Property location at HWY 35 and HWY 820.
Director Twomey questioned the administrative reimbursement line item.Ms.Dedrick stated that the
$16,000 is the normal reimbursement for staff time for preparing the meetings,minutes and staff time to
attend the meetings.Mr.Emmons stated that the remaining $8,000 went towards reimbursing the staff
time used toward economic initiatives.
Director Morrow asked EDC 4B if they were happy with the results of the Buxton Study as of this date.Mr.
Emmons clarified that he had a conference call with Ms.Janet Ehret regarding the list of retailers that was
included in tonight's packet.He clarified that he asked Buxton to review the list and target retail that will
not put any existing retail in jeopardy.
Director Crosser clarified that the reserves EDC 4B will have if they did not have to pay for the pool bond
payment would go towards any unforeseen expenses that relate to the results of the Buxton Study.
Director Morrow left at 7:03 p.m.
Director Twomey made a motion to have EDC 4A continue to fund the FY07/08 pool bond payment so
that EDC 4B can use the funds for other expenditures.Director Wilhelm seconded;motion carried 4-1-0
with President Harvey voting against.
EDC 4A to adjourn.
President Harvey adjourned EDC 4A at 7:05 p.rn.
REGULAR SESSION
Staff Updates:
a.Buxton Company
1.Update on Municipal Utility Districts Involvement
b.Annual Appointments
Brandon Emmons shared that MUD 1 has agreed to fund 50 percent of the Buxton Study costs with two
payments.They will fund $15,000 this year and $15,000 next year,with EDC 4B matching funds each
year.
Mr.Emmons went on to summarize his conference call with Ms.Ehret.He stated that the list was not as
scrutinized as he would have liked and asked the Buxton Company to customize for Trophy Club.He
asked EDC 4B to review the list and email him their feedback as to what retailers they think Trophy Club
will benefit from.
Mr.Emmons said the next step would be a second conference call and he would notify the Board as to
when and get an agenda posted.
Discussion continued regarding the segments used in the study and how the ranking was completed.
Shannon DePrater updated the Board that the annual terms will be expiring September 31"and all
directors whose terms are expiring need to make sure their applications are in by July 31 ,t Ms.DePrater
also stated that at the August meeting,the board will make their recommendations to take to council for
the appointments and stated that the consensus of the board was to recommend Mr.Hick's term be
extended for one year,alloWing for a more even appointment schedule.
EDCA&EDCB
June 11,2007 Joint Session
Page 3 of 3
Approval of Minutes
a.April 9,2007
b.May 14,2007
Director Crosser made a motion to approve the April 9,2007 minutes as written.Director Shuman
seconded;motion carried unanimously.
Director Olthoff made a motion to approve the May 14,2007 minutes as written.Director Strother
seconded;motion carried unanimously.
Approval of Financials (Additional information sent electronically)
a.March 2007
b.April 2007
c.May 2007
Director Crosser made a motion to approve the financials as written.Director Shuman seconded;motion
carried unanimously.
Other business.
a.Schedule next meeting scheduled for:
1.July 9,2007 at 6:30 p.m.or July 16,2007 at 6:30 p.m.
Adam Adams updated the Board on the Trophy Club Park at Lake Grapevine Improvement project.Mr.
Adams stated that the project Is about six weeks behind schedule due to the rain.The bathrooms should
be ordered next week with a two month lead time.
Ms.DePrater polled the Board as to when they wanted their next meeting to be held.The consensus of
the Board was to meet on their regularly scheduled meeting night,July 9,2007 in the Public Services
Conference room with out Council member Sterling and Brandon Emmons in attendance.
Discussion continued regarding strategic planning.Council member Sterling stated he would go to
Council and tell them that the board is requesting direction for future projects.
a motion to adjourn at 8:3}"p.m.pirector Olthoff seconded;
/"(,Jlltllr-!s
Dwight Morrow I
Vice PreSident I;
motion