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Agenda Packet EDC 4B 01/14/2008Town of Trophy Club Economic Development Corporation 4B Meeting Agenda 100 Municipal Drive Trophy Club, Texas 76262 Monday, January 14, 2008 6:30 PM A.1 Call to order and announce a quorum. A.2 Interview Melissa Klauss for the vacant Board position. A.3 Discuss and take appropriate action regarding a recommendation to the Town Council of Melissa Klauss for the vacant seat on EDC4B. A.4 Discuss and take appropriate action regarding funding costs for brand identity and marketing support. A.5 Discuss and take appropriate action necessary for preparation of the 2008 ICSC Regional Meeting. A.6 Discuss and take appropriate action regarding incentives for prospective developers and retailers. B.1 Approval of Minutes: A. October 8, 2007 Regular Session B. December 17, 2007 Regular Session and Workshop B.2 Approval of October 2007 Financials. B.3 Other Business: B.4 Items for Future Agendas: A. Budget Review, including Long Range Plan - February Meeting B.5 Next Meeting scheduled for February 11, 2008 at 6:30 p.m. C.1 Adjourn regular session. 2 ECONOMIC DEVELOPMENT CORPORATION 4B MEMORANDUM From: Shannon DePrater Date: 1-14-2008 Subject: Agenda Item No.A.1 Call to order and announce a quorum. 3 ECONOMIC DEVELOPMENT CORPORATION 4B MEMORANDUM From: Shannon DePrater Date: 1-14-2008 Subject: Agenda Item No.A.2 Interview Melissa Klauss for the vacant Board position. Attachments: 1. Melissa Klauss Application, received December 19, 2007. 4 5 6 ECONOMIC DEVELOPMENT CORPORATION 4B MEMORANDUM From: Shannon DePrater Date: 1-14-2008 Subject: Agenda Item No.A.3 Discuss and take appropriate action regarding a recommendation to the Town Council of Melissa Klauss for the vacant seat on EDC4B. 7 ECONOMIC DEVELOPMENT CORPORATION 4B MEMORANDUM From: Shannon DePrater Date: 1-14-2008 Subject: Agenda Item No.A.4 Discuss and take appropriate action regarding funding costs for brand identity and marketing support. EXPLANATION: Staff would like the Board to consider funding the expenditure of the following proposal for brand identity and marketing support. (SLD) Attachments: 1. Introduction Letter 2. Proposal Letter 8 9 10 11 12 13 14 15 ECONOMIC DEVELOPMENT CORPORATION 4B MEMORANDUM From: Shannon DePrater Date: 1-14-2008 Subject: Agenda Item No.A.5 Discuss and take appropriate action necessary for preparation of the 2008 ICSC Regional Meeting. EXPLANATION: At the December 17, 2007 Meeting, it was discussed to add this item to the regularly scheduled meeting agendas. Minutes from December 17, 2007: Director Shuman asked that ICSC be added to the agenda so that supplies and information will be gathered in preparation of the October 2008 conference. An action plan also needs to be developed. Consider asking developers to attend ICSC conference as well. (SLD) 16 ECONOMIC DEVELOPMENT CORPORATION 4B MEMORANDUM From: Shannon DePrater Date: 1-14-2008 Subject: Agenda Item No.A.6 Discuss and take appropriate action regarding incentives for prospective developers and retailers. 17 ECONOMIC DEVELOPMENT CORPORATION 4B MEMORANDUM From: Shannon DePrater Date: 1-14-2008 Subject: Agenda Item No .B.1 Approval of Minutes: A. October 8, 2007 Regular Session B. December 17, 2007 Regular Session and Workshop Attachments: 1.October 8, 2007 Regular Session Minutes 2. December 17, 2007 Regular Session and Workshop Minutes 18 MINUTES OF REGULAR SESSION ECONOMIC DEVELOPMENT CORPORATION 4B TOWN OF TROPHY CLUB October 8, 2007 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 October 8, 2007. 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 Rebecca Shuman Director Glenn Strother Director Philip Sterling Council Liaison DIRECTORS ABSENT: Damian Olthoff Secretary STAFF AND GUEST(S) PRESENT: Brandon Emmons Town Manager Shannon DePrater Staff Liaison REGULAR SESSION Call to order and announce a quorum. President Hicks, noting a quorum of EDC 4B, called the regular session to order at 6:35 p.m. Town Manager Updates: A. ICSC Conference B. Buxton Report Update Town Manager Emmons updated the Board and answered questions from the Directors. Discuss and provide input and/or direction for staff to move forward to prepare for the December 17, 2007 Strategic Planning Session. The Board discussed what they would like to see happen at the Strategic Planning Session. The consensus was to use the December 17th meeting to evaluate the mission, historical data, budget and comptroller’s office document. The questions that the Board would like to answer during this session include: • What is guiding the Board? • Where does the Board currently stand? • Where is the Board going? • Does the Town have a list of future projects that they would EDC 4B to pay for? • Exactly what projects is the Board allowed to pay for? 19 No action taken, input only. Discuss and take appropriate action regarding the approval of September 10, 2007 Regular Session Minutes. Director Strother made a motion to approve minutes as amended. Director Crosser seconded; motion carried unanimously. Amendments included: • Change date of minutes to September 10, 2007 • Changing agenda item from August 13, 2007 minutes from one to five expired seats on EDC 4B. Other Business: A. Arts Advisory Group Plan Update - Director Shuman Director Shuman updated the Board on the Arts Advisory Group Action Plan progress. Items for Future Agendas: A. Strategic Planning Session - December 17, 2007 B. Incentives for Retailers – November 12, 2007 Shannon DePrater shared that Assistant Town Manager Stephen Seidel would like the Board to consider incentives for retailers and bring their thoughts to the November meeting. Mr. Seidel would like to be able to go to prospective developers/retailers with a clear picture of what he can offer. The Board discussed they are more comfortable with abatements and questioned the legalities of incentives. Item will be brought forward for discussion at their November meeting. Next Meeting scheduled for November 12, 2007 at 6:30 p.m. The Board set their next meeting for November 12, 2007 at 6:30 p.m. Adjourn regular session. Director Shuman made a motion to adjourn at 8:20 p.m. Director Strother seconded; motion carried unanimously. ______________________________ _______________________________ Jim Hicks, President Damian Olthoff, Secretary 20 MINUTES OF REGULAR SESSION ECONOMIC DEVELOPMENT CORPORATION 4B TOWN OF TROPHY CLUB DECEMBER 17, 2007 11:00 A.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 December 17, 2007. The meeting was held within the boundaries of the Town and was open to the public. DIRECTORS PRESENT: James Hicks President Larry E. Crosser Treasurer Glenn Strother Director Rebecca Shuman Director Philip Sterling Council Liaison DIRECTORS ABSENT: Damian Olthoff Secretary attended workshop via conference call Doyle Nicholson Vice-President STAFF AND GUEST(S) PRESENT: Cy Holley Brandon Emmons Town Manager Stephen Seidel Assistant Town Manager Shannon DePrater Deputy Town Secretary Adam Adams Parks and Recreation Director Call to order and announce a quorum. President Hicks, noting a quorum of EDC 4B, called the regular session to order at 11:22 a.m. Update by Director Glenn Strother and Town Manager Emmons regarding the 2007 ICSC Conference and discussion of the same. Director Strother and Town Manager Emmons updated the Board on the ICSC Conference. Director Strother stated that it was a good opportunity to be in attendance and have this as a starting point for economic development initiatives. Director Strother suggested that next time, the Board be better prepared as to scheduling meetings with retailers and include more details in the information packet, including site plans, etc. The Board asked questions and discussed options. The Board decided to continue discussion during strategic planning workshop. Ideas for better visibility was also discussed, including the addition of site plans in the Dallas Business Journal ad, including brochures and items from the economic development website for the next conference. 21 The Board thanked Director Strother and Town Manager Emmons for their update and attendance at the Conference. Discuss and take action regarding possible incentives for retail development. The Board decided to move this agenda item to workshop session. Review the Town of Trophy Club Arts Advisory Group Event Plan as requested by the Board. The Board reviewed the action plan submitted by the Trophy Club Arts Advisory Group. The Board asked that the Arts Group present a quarterly update quarterly to the Board. Adam Adams, Parks and Recreation Director updated the Board on the cost of changing from three events to two events with longer performances. The Board took a break at 12:09 p.m. and reconvened into regular session at 12:50 p.m. Staff Updates: A. Retail Opportunities B. Buxton Study Assistant Town Manager Stephen Seidel updated the Board. Mr. Seidel also shared that he will be sharing the information with Council at their meeting as well. Twelve retail packages have been created and delivered and eight outstanding packages remain. Buxton will be receiving a new batch of data at the end of first quarter 2008 and we will wait until they receive their new data to proceed with the eight outstanding packages. Mr. Seidel addressed questions from the Board; including extra costs for new data and the possibility of not using all remaining eight packages. Mr. Seidel went on to state that he has contacted all retailers on our match list. Mr. Seidel stated that he has received some responses from the initial contact, including Saltgrass, Rosati’s, Chipotle and Paneras. Saltgrass and Chipotle are not interested at this time. Rosati’s would like to come and visit in January 2008; they are interested in the Regency space. Panera’s is interested in the Regency space as well. Mr. Seidel stated that he believes with the responses that he has received, the Buxton Study was a great idea; it gave a starting point. Approval of Financials: A. August 2007 B. September 2007 Director Crosser updated the Board regarding the financials; a payment of $49,645.20 was mistakenly paid out of EDC 4B’s account instead of EDC 4A. Finance will reverse and the December financials will reflect the transaction. Director Shuman made a motion to approve the financials as written. Director Strother seconded; motion carried unanimously. 22 Other Business: None. Items for Future Agendas: Director Shuman asked that ICSC be added to the agenda so that supplies, information and an action plan can be gathered in preparation of the October 2008 conference. Next Meeting scheduled for January 14, 2008 at 6:30 p.m. The Board set their next meeting for January 14, 2008 at 6:30 p.m. Adjourn regular session. The Board adjourned their regular session at 1:32 p.m. EDC B to Convene into Workshop Session. The Board convened into workshop session at 1:33 p.m. Director Olthoff attended the workshop session via conference call. Strategic Planning Discussion: Director Shuman asked for clarification whether we are doing a strategic planning session or long range session. President Hicks stated that we will be working on a two year plan, and can create a list for longer range goals and objectives. A. Review of Current EDC-4B Mission Statement 1. Brief Review of Town Council and various Town Boards a. Town Council b. EDC-4A c. Parks and Recreation 2. Revise EDC-4B Mission Statement and Long Term Plan President Hicks stated that once the Board gets the plan finalized, a document will be drafted. An outside source may be brought in at that time to review and make suggestions. The Board discussed the mission statement. Staff was directed to change percentage from ½ to ¼ percent. The Board updated the accomplishment and objective lists to include: Accomplishments: 1. Comprehensive Buxton Study 2. Attendance at ICSC Conference 3. Established Tax Abatement Schedule 4. Continued efforts to attract and retain businesses 5. Partnered with the Town of Trophy Club Arts Advisory Group and Artsnet 6. Improved the community’s awareness of business/development issues a. Kicked off economic development awareness of Trophy Club 7. Opened and encouraged dialogue with within the Trophy Club’s various entities, developers and citizens 8. Initiated and completed two surveys to aid retail prospect selection 9. Traffic Count study 10. Sought out potential retail prospects for site visits 23 11. Participate in the Economic Summit 12. Funded Dallas Business Journal Objectives: 1. Formalize a business retention plan 2. Continue dialogue with developers to further encourage and define their development plans 3. Develop a relationship and partner with the Planning and Zoning Commission a. Every commercial property application be forwarded to Board b. EDC B board members to attend P&Z meeting 4. Continue relationships with Trophy Club Entities 5. establish relationship with said entity 6. reconsider attendance at various 7. communicate EDC 4B plan to Council; EDC 4A, Planning and Zoning, Parks and Recreation Board 8. optimize Trophy Club’s commercial property 9. annual attendance to ICSC Conference 10. Refine Trophy Club’s economic develop and marketing materials and outreach efforts a. Conferences b. Around the town newsletter 11. Improve communication with : a. Developers b. Retailers c. Citizens d. Other commissions/boards e. Reinstate around the town business spotlight in around the town 12. Increase EDC 4B’s visibility within the Town 13. Develop a relationship and partner with the Chamber of Commerce 14. Develop a consistent uniform process of assisting developers using best practices 15. Investigate and develop potential new business incentives 16. Review mission statement and potentially rewrite mission statement pending legal decision. The Board broke at 3:03 p.m. and reconvened into workshop session at 3:11 p.m. B. General Overview and Review of EDC 4B Legislation at the State Level as written by the Comptroller's Office The Board reviewed EDC B Legislation and brainstormed the various opportunities of funding to include: a. Job Training facilities – No manufacturing coming to TC – No revenue generated – Currently low need b. Sports Venue (+/-) - Amphitheater - Youth sports center - Community/rec center c. Recycle Facilities 24 - Home pickup - School programs - No room for facility - High liability - Compost area by wwtp (positive – thinking green) d. Air or Water Pollution Control - Traffic issues (air pollution being addressed) - Silt in local lakes, Trophy Club Park at Lake Grapevine - Potential retrofit program for pool “backwashing” can EDC B do this?? e. Small Warehouses – Currently need zoned – More regional issue – We do not have industrial zones f. Affordable Housing - No land available for new construction - Zero currently available in Trophy Club g. Infrastructure - Parking lots - Roads - Sewer / water lines - Trophy Club Park at Lake Grapevine - Loop road ?? - Lighting - Buildings - Town Entrances / gateways - Landscaping h. Education Facilities for Higher Education - investigate after school program and community rec center, youth sports, parks, community colleges i. Water Conservation Programs - zero scape - Rain guards - Literature - generate revenue j. Facilities to Promote New and Expanded Business Development – see goals/objections Low priority – red Priority – green Potential - orange C. Trophy Club Economic Development SWOT 1. Strengths 2. Weaknesses 3. Opportunities 4. Threats D. Trophy Club Economic Development Community Vision 1. Available land parcels 2. Niche market possibilities 3. Strategy and Incentive Ideas 25 E. Review of Buxton Analysis and Progress Update – see staff report F. Budget Review G. Review of Current Forms and Funding Application The Board discussed whether or not to keep the current form, APPLICATION FOR CONSIDERATION OF FUNDING, as is, change to REQUEST FOR CONSIDERATION FORM or remove all together. The Board’s consensus was to remove the application from the website and update the website to state for funding, please call Assistant Town Manager Stephen Seidel at phone number and list funding options. Staff will then bring information to the Board and the Board will discuss and staff when then go back to contact and proceed as needed. H. Training, Recruitment, Professional Development, and Marketing for EDC- 4B The Board decided to bring this item back at a later date, after a review of the budget is complete. The Board directed staff to include a long range budget agenda item on the February meeting agenda. D.3 Adjourn Workshop Session. The Board adjourned the workshop session at 4:17 p.m. ______________________________ _______________________________ Jim Hicks, President Damian Olthoff, Secretary 26 ECONOMIC DEVELOPMENT CORPORATION 4B MEMORANDUM From: Shannon DePrater Date: 1-14-2008 Subject: Agenda Item No.B.2 Approval of October 2007 Financials. Attachments: 1. Financials Spreadsheet 2. October 2007 Bank Statements 3. Sales Tax Revenue History 4. December 2007 Texpool Statements to show that the $49,625.20 payment has been reimbursed from Economic Development Corporation 4A. December Financials will not be discussed at this meeting. 27 ADOPTED FY 07/08 ACCOUNT BUDGET @ NUMBER DESCRIPTION 2007/2008 10/31/07 REVENUES 40030 Sales Tax - General (115,000) - 49010 Interest Income (6,000) (712) 49035 Reserves TOTAL REVENUES (121,000) (712) 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 - 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 - 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 65105 Printing 6,000 - TOTAL EXPENDITURES 121,000 17,566 Bank Balances As of 10/31/2007 1st Financial 16,120 Texpool 159,713 Total 175,833 Outstanding Liabilities Marshall Creek Park -30,000 Balance after Liabilities 145,833 28 29 30 31 SALES TAX REVENUE HISTORY (NOT IN ARREARS) 2003-2004 2004-2005 2005-2006 2006-2007 2007-08 2007-08 CY ACTUAL/ CY YTD YEAR YEAR YEAR YEAR YEAR YEAR PY ACTUAL CUMULATIVE ACTUAL ACTUAL ACTUAL ACTUAL ACTUAL PROJECTED % VARIANCE % VARIANCE OCT 50,830 50,698 54,781 59,035 59,035 59,035 0.00% 0.00% NOV 51,284 48,705 62,727 66,788 66,788 66,788 0.00% 0.00% DEC 76,485 73,631 89,630 99,799 99,798 99,798 0.00% 0.00% JAN 54,555 48,008 53,345 79,490 79,489 79,489 0.00% 0.00% FEB 43,570 47,824 53,288 68,116 68,116 68,116 0.00% 0.00% MAR 114,443 69,109 80,052 69,146 69,146 69,146 0.00% 0.00% APR 72,374 51,029 61,897 77,133 77,133 77,133 0.00% 0.00% MAY 55,183 47,268 71,686 72,198 72,198 72,198 0.00% 0.00% JUN 75,690 70,226 80,918 100,383 100,382 100,382 0.00% 0.00% JUL 48,661 52,410 56,468 70,682 70,682 70,682 0.00% 0.00% AUG 52,536 58,279 64,627 64,627 64,627 64,627 0.00% 0.00% SEP 69,539 70,179 99,206 99,206 99,206 99,206 0.00% 0.00% TOTAL 765,151 687,367 828,625 926,603 926,601 926,601 0.00% Annual 6% -10% 21% 12% 0% 0% Cum 14845% 13325% 16084% 17998% 17998% 17998% Town 414,313 463,301 463,301 463,300 EDC-A 207,156 231,651 231,651 231,650 EDC-B 207,156 115,825 115,825 115,825 Streets - 115,825 115,825 115,825 MONTH 32 33 34 ECONOMIC DEVELOPMENT CORPORATION 4B MEMORANDUM From: Shannon DePrater Date: 1-14-2008 Subject: Agenda Item No .B.3 Other Business: 35 ECONOMIC DEVELOPMENT CORPORATION 4B MEMORANDUM From: Shannon DePrater Date: 1-14-2008 Subject: Agenda Item No.B.4 Items for Future Agendas: A. Budget Review, including Long Range Plan - February Meeting 36 ECONOMIC DEVELOPMENT CORPORATION 4B MEMORANDUM From: Shannon DePrater Date: 1-14-2008 Subject: Agenda Item No.B.5 Next Meeting scheduled for February 11, 2008 at 6:30 p.m. Attachments: 1. February 2008 Calendar of Events 37 38 ECONOMIC DEVELOPMENT CORPORATION 4B MEMORANDUM From: Shannon DePrater Date: 1-14-2008 Subject: Agenda Item No. C.1 Adjourn regular session.