Loading...
Agenda Packet EDC 4B 02/11/2008Town of Trophy Club Economic Development Corporation 4B Meeting Agenda 100 Municipal Drive Trophy Club, Texas 76262 Monday, February 11, 2008 at 6:30 PM A.1 Call to order and announce a quorum. A.2 Discuss and take appropriate action regarding the Dallas Area Chamber Economic Development Guide advertisement renewal. A.3 Discuss and take appropriate action to approve a bank resolution amending authorized representatives on First Financial Bank and Texpool signature accounts. A.4 Interview candidates for two (2) expired seats: a. 7:00 p.m. – Ms. Melissa Klauss b. 7:15 p.m. or immediately following previous applicant – Mr. Dave Glaser c. 7:30 p.m. or immediately following previous applicant - Mr. Dan Bishop A.5 Discuss and take appropriate action regarding a recommendation to the Town Council of candidates for two (2) expired seats on EDC4B. A.6 Discuss and take appropriate action necessary for preparation of the 2008 ICSC Regional Meeting. B.1 Staff Updates: A. Trophy Club Park Grant B.2 Approval of Minutes: A. January 14, 2008 Regular Session B.3. Approval of Financials: A. November 2007 B. December 2007 B.4 Other Business: A. Joint Meeting with EDC A regarding Pool Bond Funding. B.5 Items for Future Agendas: B.6 Discuss and take appropriate action regarding meeting schedule for March 2008. A. Regular Session on March 10, 2008 at 6:30 p.m. B. Joint Meeting with EDC 4A on March 24, 2008 at 6:30 p.m. C.1 Adjourn regular session. 2 ECONOMIC DEVELOPMENT CORPORATION 4B MEMORANDUM From: Shannon DePrater Date: 2-11-2008 Subject: Agenda Item No.A.1 Call to order and announce a quorum. 3 ECONOMIC DEVELOPMENT CORPORATION 4B MEMORANDUM From: Shannon DePrater Date: 2-11-2008 Subject: Agenda Item No.A.2 Discuss and take appropriate action regarding the Dallas Area Chamber Economic Development Guide advertisement renewal. 4 ECONOMIC DEVELOPMENT CORPORATION 4B MEMORANDUM From: Shannon DePrater Date: 2-11-2008 Subject: Agenda Item No.A.3 Discuss and take appropriate action to approve a bank resolution amending authorized representatives on First Financial Bank and Texpool signature accounts. (SLD) Attachments: 1. Signature List 5 6 ECONOMIC DEVELOPMENT CORPORATION 4B MEMORANDUM From: Shannon DePrater Date: 2-11-2008 Subject: Agenda Item No.A.4 Interview candidates for two (2) expired seats: a. 7:00 p.m. – Ms. Melissa Klauss b. 7:15 p.m. or immediately following previous applicant – Mr. Dave Glaser c. 7:30 p.m. or immediately following previous applicant - Mr. Dan Bishop (SLD) Attachments: 1. Melissa Klauss application, received December 19, 2007 2. David Glaser application, received January 14, 2007 3. Daniel Bishop application, received January 15, 2007 7 8 9 10 11 ECONOMIC DEVELOPMENT CORPORATION 4B MEMORANDUM From: Shannon DePrater Date: 2-11-2008 Subject: Agenda Item No.A.5 Discuss and take appropriate action regarding a recommendation to the Town Council of candidates for two (2) expired seats on EDC4B. 12 ECONOMIC DEVELOPMENT CORPORATION 4B MEMORANDUM From: Shannon DePrater Date: 2-11-2008 Subject: Agenda Item No.A.6 Discuss and take appropriate action necessary for preparation of the 2008 ICSC Regional Meeting. 13 ECONOMIC DEVELOPMENT CORPORATION 4B MEMORANDUM From: Shannon DePrater Date: 2-11-2008 Subject: Agenda Item No.B.1 Staff Updates: A. Trophy Club Park Grant EXPLANATION: Trophy Club Park Grant: This is an update only regarding the Trophy Club Park Grant for $210,000. In FY06-07, EDC B approved matching funds not to exceed $30,000. The Grant Project was delayed due to flooding of the park and in all probability; the funds will now be utilitized during FY07-08. This amount was not budgeted for this year; a public hearing will be needed in order to do a budget amendment. The public hearing notice will publish on Friday, February 15th and the public hearings will occur on March 10, 2008 and April 14, 2008. 14 ECONOMIC DEVELOPMENT CORPORATION 4B MEMORANDUM From: Shannon DePrater Date: 2-11-2008 Subject: Agenda Item No .B.2 Approval of Minutes: A. January 14, 2008 Regular Session (SLD) Attachments: 1. January 14, 2008 Regular Session Minutes 15 MINUTES OF REGULAR SESSION ECONOMIC DEVELOPMENT CORPORATION 4B TOWN OF TROPHY CLUB JANUARY 14, 2008 6:30 P.M. STATE OF TEXAS COUNTY OF DENTON The Economic Development Corporation 4B of the Town of Trophy Club, Texas, met in a Regular Session on January 14, 2008. The meeting was held within the boundaries of the Town and was open to the public. DIRECTORS PRESENT: James Hicks President Doyle Nicholson Vice-President Larry E. Crosser Treasurer Glenn Strother Director Rebecca Shuman Director Philip Sterling Council Liaison DIRECTORS ABSENT: Damian Olthoff Secretary STAFF AND GUEST(S) PRESENT: Stephen Seidel Assistant Town Manager Shannon DePrater Deputy Town Secretary A.1 Call to order and announce a quorum. President Hicks, noting a quorum of EDC 4B, called the regular session to order at 6:32 p.m. A.2 Interview Melissa Klauss for the vacant Board position. Interview was moved to the February 11, 2008 meeting. A.3 Discuss and take appropriate action regarding a recommendation to the Town Council of Melissa Klauss for the vacant seat on EDC4B. No action taken. A.4 Discuss and take appropriate action regarding funding costs for brand identity and marketing support. Discussion ensued regarding the importance of branding and the timing of this proposal. The Board discussed whether the Town was at a point for branding and how branding would help the Town. Director Shuman thinks is a good idea, but the Town needs to offer more direction. Council member Sterling added that our logo uses the red, white and blue and that is a type of branding. Sterling brought up the question – do we change the logo or add to it? President Hicks stated that branding might be premature as of this time. If the Town decides that they would like to enhance the logo or tag line, the Board may then entertain the proposal at that time. Director Shuman stated it may be a good idea to ask Buxton if they are having difficultly with Town recognition. 16 Director Crosser stated that he would like to leave this idea alone at this time and revisit at a later date. Director Crosser stated maybe Trophy Club’s tag line needs to be developed to help with identify Trophy Club’s location. Director Strother would rather invest funds and go to a marketing group with the question of how we market Trophy Club. President Hicks agrees with Director Strother and believes the Board is more focused on creating a developer’s packet rather than working on branding. Consensus of the Board is to do nothing at this time and have staff take to Council and get their feelings and bring back, depending on Council’s ideas. The Board also directed staff to gather more information, including a list of municipal clients and costs to help the Board with its strategic planning. A.5 Discuss and take appropriate action necessary for preparation of the 2008 ICSC Regional Meeting. The Board directed staff to make room reservations now. Director Shuman brought up a list of items for discussion, including having the attendees from last year make a laundry list of what we need to take with us. President Hicks would like Director Strother to spearhead a sub-committee for ICSC plans. Director Strother would like to start working on this rather quickly, within the next month. The Board discussed the budget and ways to fund items needed for the ICSC conference. The Board directed staff to research public hearing procedures. A.6 Discuss and take appropriate action regarding incentives for prospective developers and retailers. Mr. Seidel asked the Board for direction in relation to what he could possibly take to the table when meeting with prospective developers/retailers. The Board asked staff to research other cities’ use of incentives and bring back a list of examples. B.1 Approval of Minutes: A. October 8, 2007 Regular Session B. December 17, 2007 Regular Session and Workshop Director Crosser made a motion to approve both sets of minutes as written. Director Nicholson seconded; motion carried unanimously. B.2 Approval of October 2007 Financials. Director Crosser gave an update of current bank balances. Director Shuman made a motion to approve the financials as presented. Director Nicholson seconded; motion carried unanimously. B.3 Other Business: The Board discussed the Buxton Retail Study status and the possibility of staff scanning future council/commission agendas and notifying EDC B Directors of agenda items relating to economic development. B.4 Items for Future Agendas: A. Budget Review, including Long Range Plan - February Meeting The Board directed staff to add the following items: • Scheduling directors to attend other Boards and Commission meetings 17 • How to educate/publicize citizenry in regards to possible/potential development concerns • Move the budget review to the March meeting, Board would like to create a budget with maximum flexibility • Schedule a joint meeting with EDC A in May in regards to pool bond payment B.5 Next Meeting scheduled for February 11, 2008 at 6:30 p.m. C.1 Adjourn regular session. Director Nicholson made a motion to adjourn at 9:21 p.m. Director Crosser seconded; motion carried unanimously. ______________________________ _______________________________ Jim Hicks, President Damian Olthoff, Secretary 18 ECONOMIC DEVELOPMENT CORPORATION 4B MEMORANDUM From: Shannon DePrater Date: 2-11-2008 Subject: Agenda Item No.B.3 Approval of Financials: A. November 2007 B. December 2007 Attachments: 1. Financial Spreadsheet 2. November 2007 Bank Statements 3. December 2007 Bank Statements 19 ADOPTED FY 07/08 FY 07/08 FY 07/08 ACCOUNT BUDGET @ @ @ NUMBER DESCRIPTION 2007/2008 10/31/07 11/30/07 12/31/07 REVENUES 40030 Sales Tax - General (115,000) - - (7,681) 49010 Interest Income (6,000) (712) (304) (458) 49035 Reserves TOTAL REVENUES (121,000) (712) (304) (8,139) EXPENSES 60066 Publications/Books/Subscriptions 100 - - - 60070 Dues & Memberships 2,500 2,500 - - Artsnet Membership 60080 Schools & Training 1,400 - - - Mandatory State Training 600 TEDC Basic Course 600 TEDC Conference Dallas 200 60100 Travel & Per Diem 3,000 - 611 - Houston (4 days, one person) 850 San Antonio (3 days, three people) 1,850 Meals for potential businesses/developers 300 60125 Advertising 11,310 - - - Dallas Business Journal 6,500 Dallas Area Chamber 2,500 Metroport Chamber Map 700 Chamber Advertising Membership Directory 360 Other Advertising Opportunities 1,250 60245 Miscellaneous Expenses 5,000 - - 57 60315 EDC Projects 20,000 15,000 - - Buxton Project. MUD 1 to fund $15K 15,000 Consultant for Strategic Plan Development 5,000 60340 Large Project Reserves 45,924 - - - 60355 Administrative Reimbursement 25,566 - - - 65085 Office Supplies 200 66 - 25 65105 Printing 6,000 - - - TOTAL EXPENDITURES 121,000 17,566 611 81 Bank Balances As of 12/31/2007 1st Financial 15,515 Texpool 149,561 Total 165,076 Outstanding Liabilities Trophy Club Park at Lake Grapevine 30,000 Balance after Liabilities 135,076 20 21 22 23 24 ECONOMIC DEVELOPMENT CORPORATION 4B MEMORANDUM From: Shannon DePrater Date: 2-11-2008 Subject: Agenda Item No .B.4 Other Business: A. Joint Meeting with EDC A regarding Pool Bond Funding. 25 ECONOMIC DEVELOPMENT CORPORATION 4B MEMORANDUM From: Shannon DePrater Date: 2-11-2008 Subject: Agenda Item No.B.5 Items for Future Agendas: Items for Future Agendas List: • Budget review - Board would like to create a budget with maximum flexibility – March 10, 2008 • Scheduling directors to attend other Boards and Commission meetings • How to educate/publicize citizenry in regards to possible/potential development concerns • Schedule a joint meeting with EDC A in regards to pool bond payment – May timeframe 26 ECONOMIC DEVELOPMENT CORPORATION 4B MEMORANDUM From: Shannon DePrater Date: 2-11-2008 Subject: Agenda Item No.B.6 Discuss and take appropriate action regarding meeting schedule for March 2008. A. Regular Session on March 10, 2008 at 6:30 p.m. B. Joint Meeting with EDC 4A on March 24, 2008 at 6:30 p.m. Attachments: 1. March 2008 Calendar 27 28 ECONOMIC DEVELOPMENT CORPORATION 4B MEMORANDUM From: Shannon DePrater Date: 2-11-2008 Subject: Agenda Item No. C.1 Adjourn regular session.