Agenda Packet EDC 4B 07/11/2011Economic Development Corporation 4B
(EDC 4B)
Trophy Club Entities
Meeting Agenda
100 Municipal Drive
Trophy Club, Texas 76262
Svore Municipal Building Boardroom6:30 PMMonday, July 11, 2011
Call To Order and announce a quorum.
Citizen Presentation
Citizens are allowed three (3) minutes to address the Board regarding an item over
which the Board has policy or oversight authority as provided by Texas law, the ethics
order, or other policy order.
PUBLIC HEARING
1.2011-338-T Public Hearing considering the expenditure of funds for the fiscal year
2011-2012 budget.
REGULAR SESSION
2.2011-339-T Discuss and take appropriate action regarding FY2011-2012 budget.
FY12 Budget.pdfAttachments:
3.2011-340-T Discussion of Byron Nelson High School Homecoming participation.
4.2011-341-T Receive Assistant Town Manager update; discussion of same.
- 26 acre property
- Liquor rezoning
- Trophy Wood business area
5.2011-343-T Receive Town Council update from Council member Strother; discussion of
the same.
6.2011-342-T Discuss and take appropriate action regarding the approval of the June 28,
2011 Regular Session meeting minutes.
003 June 28 2011 Minutes.pdfAttachments:
7.2011-344-T Discuss and take appropriate action regarding the Monthly Financials dated
February 2011.
February Financials for Packet.pdfAttachments:
EDC 4B 1 of 43 Meeting Date: Monday, July 11, 2011
July 11, 2011Economic Development
Corporation 4B (EDC 4B)
Meeting Agenda
8.2011-345-T Discuss and take appropriate action regarding the Monthly Financials dated
March 2011.
March Financials for Packet.pdfAttachments:
9.2011-346-T Discuss and take appropriate action regarding the Monthly Financials dated
April 2011.
April 2011 Financials for Packet.pdfAttachments:
10.2011-347-T Discuss and take appropriate action regarding the Monthly Financials dated
May 2011.
May 2011 Financials for Packet.pdfAttachments:
11.2010-567-T Future Agenda Items.
EDC 4B Future Agenda Items.pdfAttachments:
Adjourn
*THE BOARD MAY CONVENE INTO EXECUTIVE SESSION TO DISCUSS POSTED
ITEMS AS ALLOWED BY THE TEXAS OPEN MEETINGS ACT, TEXAS LOCAL
GOVERNMENT CODE 551.071.
Notice is hereby given that a quorum of the Town Council may be in attendance at
this meeting.
EDC 4B 2 of 43 Meeting Date: Monday, July 11, 2011
July 11, 2011Economic Development
Corporation 4B (EDC 4B)
Meeting Agenda
CERTIFICATION
I certify that the above notice was posted on the front window of the Svore Municipal
Building, 100 Municipal Drive, Trophy Club, Texas, on July 8, 2011 by 6:00 P.M. in
accordance with Chapter 551, Texas Government Code.
___________________________
April M. Reiling
PIO/Marketing Manager
If you plan to attend this public meeting and have a disability that requires special
needs, please contact the Town Secretary’s Office at 682-831-4600, 48 hours in
advance and reasonable accommodations will be made to assist you.
I certify that the attached notice and agenda of items to be considered by this Board
was removed by me from the front window of the Svore Municipal Building, 100
Municipal Drive, Trophy Club, Texas, on the __________ day of
______________________, 2011.
________________________________, Title: ___________________________
EDC 4B 3 of 43 Meeting Date: Monday, July 11, 2011
100 Municipal Drive
Trophy Club, Texas 76262Trophy Club Entities
Legislation Details (With Text)
File #: Version:12011-338-T Name:
Status:Type:Agenda Item Public Hearing
File created:In control:7/8/2011 Economic Development Corporation 4B (EDC 4B)
On agenda:Final action:7/11/2011
Title:Public Hearing considering the expenditure of funds for the fiscal year 2011-2012 budget.
Attachments:
Action ByDate Action ResultVer.
Title
Public Hearing considering the expenditure of funds for the fiscal year 2011-2012 budget.
EDC 4B 4 of 43 Meeting Date: Monday, July 11, 2011
100 Municipal Drive
Trophy Club, Texas 76262Trophy Club Entities
Legislation Details (With Text)
File #: Version:12011-339-T Name:
Status:Type:Agenda Item Regular Session
File created:In control:7/8/2011 Economic Development Corporation 4B (EDC 4B)
On agenda:Final action:7/11/2011
Title:Discuss and take appropriate action regarding FY2011-2012 budget.
Attachments:FY12 Budget.pdf
Action ByDate Action ResultVer.
Title
Discuss and take appropriate action regarding FY2011-2012 budget.
EDC 4B 5 of 43 Meeting Date: Monday, July 11, 2011
Department:Acct:
EDC-4B
FY2008 FY2009 FY2010 FY2011 FY2011
FY2012
Proposed
FY2012
Adopted
Description Actual Actual Actual Adopted YTD Budget Budget
REVENUES
Sales Tax - General 119,024 114,955 132,420 126,273 67,985 146,950
Interest Income 5,319 1,696 497 2,000 273 1,000
Advertising Income 0 0 0 0 0 20,000
Reserves 0 0 0 0 0 0
TOTAL REVENUES 124,343 116,651 132,917 128,273 68,258 167,950 0
EXPENDITURES
Auditing 0 0 916 1,000 1,091 1,000
Publications/Books/Subscriptions 11900 000
Dues & Memberships 2,650 350 200 200 250 250
Schools & Training 0 760 1,020 2,300 2,886 2,320
Travel & Per Diem 654 2,786 2,225 3,250 1,145 6,800
Advertising 2,232 7,958 7,672 750 750 21,500
Miscellaneous Expenses 231 0 424 10,100 2,457 8,600
Community Events 0 0 1,000 0 0 0
EDC Projects 32,518 18,911 34,724 55,083 7,136 70,000
Intergov Trans Out (GF I&S)0 26,362 26,362 26,246 19,685 26,783
Large Project Reserves 33,299 0 0 0 0 0
Intergov Trans Out (GF)11,122 16,861 16,835 25,666 19,959 27,697
Office Supplies 91 14 0 0 0 3,000
Printing 0 0 0 0 0 2,000
TOTAL EXPENDITURES 82,916 74,002 91,378 124,595 55,358 167,950 0
TOTAL REVENUES OVER EXPENDITURES 41,427 42,649 41,539 3,678 12,900 0 0
Town of Trophy Club, Texas
FY2012 EDC-4B Budget
Expense Summary
7/8/2011
EDC 4B 6 of 43 Meeting Date: Monday, July 11, 2011
De
p
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Total Proposed Costs
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0
0
$0 $1,000
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$1
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0
0
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$0 $1,000
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FY
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1
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ED
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4B
7
of
43
Me
e
t
i
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g
Date: Monday, July 11, 2011
De
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:
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m
:
ED
C
-
4
B
Pu
b
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a
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s
/
B
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k
s
/
S
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t
C
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s
t
s
A
d
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t
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d
C
o
s
t
s
Total Proposed Costs
N/
A
$0
$
0
$
0
TO
T
A
L
$0
$0 $0
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w
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f
T
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y
C
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,
T
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a
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FY
2
0
1
2
E
D
C
-
4
B
B
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g
e
t
Ex
p
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s
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A
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c
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s
ED
C
4B
8
of
43
Me
e
t
i
n
g
Date: Monday, July 11, 2011
De
p
a
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m
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t
:
Li
n
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t
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m
:
ED
C
-
4
B
Du
e
s
&
M
e
m
b
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r
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p
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s
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g
e
t
C
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s
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s
A
d
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t
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d
C
o
s
t
s
Total Proposed Costs
IC
S
C
M
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m
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r
s
h
i
p
O
f
f
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c
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a
l
=
$
1
0
0
;
A
f
f
i
l
i
a
t
e
=
$
5
0
$2
5
0
$0
$250
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f
f
i
c
i
a
l
&
3
A
f
f
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l
i
a
t
e
TO
T
A
L
$2
5
0
$0
$250
To
w
n
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f
T
r
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p
h
y
C
l
u
b
,
T
e
x
a
s
FY
2
0
1
2
E
D
C
-
4
B
B
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g
e
t
Ex
p
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n
s
e
A
c
c
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u
n
t
s
ED
C
4B
9
of
43
Me
e
t
i
n
g
Date: Monday, July 11, 2011
De
p
a
r
t
m
e
n
t
:
Li
n
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I
t
e
m
:
ED
C
-
4
B
Sc
h
o
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l
s
&
T
r
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De
s
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r
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p
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E
x
p
l
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T
a
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g
e
t
C
o
s
t
s
A
d
j
u
s
t
e
d
C
o
s
t
s
Total Proposed Costs
TE
D
C
S
a
l
e
s
T
a
x
S
e
m
i
n
a
r
TE
D
C
e
d
u
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n
a
l
s
e
m
i
n
a
r
@
$
1
7
5
R
e
g
i
s
t
r
a
t
i
o
n
(
4
p
e
r
y
e
a
r
)
$7
0
0
$0 $700
IC
S
C
T
e
x
a
s
D
e
a
l
M
a
k
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g
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n
A
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T
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s
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M
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n
@ $
2
7
0
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,
0
0
0
$620 $1,620
-
I
n
c
l
u
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T
M
,
A
T
M
,
C
D
D
,
3
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D
C
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TO
T
A
L
$1
,
7
0
0
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To
w
n
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f
T
r
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p
h
y
C
l
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b
,
T
e
x
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FY
2
0
1
2
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D
C
-
4
B
B
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t
Ex
p
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A
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s
ED
C
4B
10
of
43
Me
e
t
i
n
g
Date: Monday, July 11, 2011
De
p
a
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t
m
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n
t
:
Li
n
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I
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e
m
:
ED
C
-
4
B
Tr
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&
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C
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A
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C
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s
t
s
Total Proposed Costs
Sa
l
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s
T
a
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S
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m
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a
r
$2
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0
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=
4
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D
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m
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r
s
(
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/
p
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n
)
$2
,
0
0
0
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S
C
T
e
x
a
s
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l
M
a
k
i
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g
$8
0
0
@
6
a
t
t
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n
d
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e
s
$1
,
4
1
3
$3
,
3
8
7
$4,800
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T
A
L
$3
,
4
1
3
$3
,
3
8
7
$6,800
To
w
n
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f
T
r
o
p
h
y
C
l
u
b
,
T
e
x
a
s
FY
2
0
1
2
E
D
C
-
4
B
B
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g
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t
Ex
p
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n
s
e
A
c
c
o
u
n
t
s
ED
C
4B
11
of
43
Me
e
t
i
n
g
Date: Monday, July 11, 2011
De
p
a
r
t
m
e
n
t
:
Li
n
e
I
t
e
m
:
ED
C
-
4
B
Ad
v
e
r
t
i
s
i
n
g
De
s
c
r
i
p
t
i
o
n
E
x
p
l
a
n
a
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i
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n
T
a
r
g
e
t
C
o
s
t
s
A
d
j
u
s
t
e
d
C
o
s
t
s
Total Proposed Costs
Ch
a
m
b
e
r
M
e
m
b
e
r
s
h
i
p
D
i
r
e
c
t
o
r
y
Pa
r
t
i
c
i
p
a
t
e
w
i
t
h
a
d
i
n
D
i
r
e
c
t
o
r
y
$7
5
0
$750
An
n
u
a
l
T
r
o
p
h
y
C
l
u
b
M
a
g
a
z
i
n
e
Cr
e
a
t
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M
a
g
a
z
i
n
e
e
x
c
l
u
s
i
v
e
l
y
a
b
o
u
t
T
C
e
a
c
h
y
e
a
r
$2
0
,
0
0
0
$20,000
-
O
f
f
-
s
e
t
c
o
s
t
s
b
y
s
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l
l
i
n
g
a
d
s
$0
Mi
s
c
C
h
a
m
b
e
r
,
R
e
g
i
o
n
a
l
,
e
t
c
S
p
o
n
s
o
r
s
h
o
p
$750 $750 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
TO
T
A
L
$7
5
0
$2
0
,
7
5
0
$21,500
To
w
n
o
f
T
r
o
p
h
y
C
l
u
b
,
T
e
x
a
s
FY
2
0
1
2
E
D
C
-
4
B
B
u
d
g
e
t
Ex
p
e
n
s
e
A
c
c
o
u
n
t
s
ED
C
4B
12
of
43
Me
e
t
i
n
g
Date: Monday, July 11, 2011
De
p
a
r
t
m
e
n
t
:
Li
n
e
I
t
e
m
:
ED
C
-
4
B
Mi
s
c
E
x
p
e
n
s
e
s
De
s
c
r
i
p
t
i
o
n
E
x
p
l
a
n
a
t
i
o
n
T
a
r
g
e
t
C
o
s
t
s
A
d
j
u
s
t
e
d
C
o
s
t
s
Total Proposed Costs
We
b
s
i
t
e
H
o
s
t
i
n
g
An
n
u
a
l
c
o
s
t
t
o
h
o
s
t
E
D
p
o
r
t
i
o
n
o
f
T
o
w
n
w
e
b
s
i
t
e
$1
0
0
$100
Ma
r
k
e
t
i
n
g
C
o
l
l
a
t
e
r
a
l
Mi
s
c
M
a
r
k
e
t
i
n
g
I
t
e
m
s
a
n
d
P
i
e
c
e
s
$1
0
,
1
0
0
($
5
,
1
0
0
)
$5,000
Me
e
t
i
n
g
E
x
p
e
n
s
e
s
ED
M
e
e
t
i
n
g
E
x
p
e
n
s
e
s
$1
,
5
0
0
$1,500
De
v
e
l
o
p
m
e
n
t
L
u
n
c
h
e
o
n
Ho
s
t
L
u
n
c
h
e
o
n
a
t
T
C
C
C
f
o
r
D
e
v
e
l
o
p
e
r
s
a
n
d
B
u
s
i
n
e
s
s
e
s
$2
,
0
0
0
$2,000
TO
T
A
L
$1
0
,
2
0
0
($
1
,
6
0
0
)
$8,600
To
w
n
o
f
T
r
o
p
h
y
C
l
u
b
,
T
e
x
a
s
FY
2
0
1
2
E
D
C
-
4
B
B
u
d
g
e
t
Ex
p
e
n
s
e
A
c
c
o
u
n
t
s
ED
C
4B
13
of
43
Me
e
t
i
n
g
Date: Monday, July 11, 2011
De
p
a
r
t
m
e
n
t
:
Li
n
e
I
t
e
m
:
ED
C
-
4
B
ED
C
P
r
o
j
e
c
t
s
De
s
c
r
i
p
t
i
o
n
E
x
p
l
a
n
a
t
i
o
n
T
a
r
g
e
t
C
o
s
t
s
A
d
j
u
s
t
e
d
C
o
s
t
s
Total Proposed Costs
Ma
r
k
e
t
i
n
g
/
B
r
a
n
d
i
n
g
I
n
i
t
i
a
t
i
v
e
C
r
e
a
t
e
a
M
a
r
k
e
t
i
n
g
a
n
d
B
r
a
n
d
i
n
g
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14
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43
Me
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Date: Monday, July 11, 2011
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15
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43
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Date: Monday, July 11, 2011
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16
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43
Me
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i
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g
Date: Monday, July 11, 2011
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4B
17
of
43
Me
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t
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g
Date: Monday, July 11, 2011
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4B
18
of
43
Me
e
t
i
n
g
Date: Monday, July 11, 2011
100 Municipal Drive
Trophy Club, Texas 76262Trophy Club Entities
Legislation Details (With Text)
File #: Version:12011-340-T Name:
Status:Type:Agenda Item Regular Session
File created:In control:7/8/2011 Economic Development Corporation 4B (EDC 4B)
On agenda:Final action:7/11/2011
Title:Discussion of Byron Nelson High School Homecoming participation.
Attachments:
Action ByDate Action ResultVer.
Title
Discussion of Byron Nelson High School Homecoming participation.
EDC 4B 19 of 43 Meeting Date: Monday, July 11, 2011
100 Municipal Drive
Trophy Club, Texas 76262Trophy Club Entities
Legislation Details (With Text)
File #: Version:12011-341-T Name:
Status:Type:Agenda Item Regular Session
File created:In control:7/8/2011 Economic Development Corporation 4B (EDC 4B)
On agenda:Final action:7/11/2011
Title:Receive Assistant Town Manager update; discussion of same.
- 26 acre property
- Liquor rezoning
- Trophy Wood business area
Attachments:
Action ByDate Action ResultVer.
Title
Receive Assistant Town Manager update; discussion of same.
- 26 acre property
- Liquor rezoning
- Trophy Wood business area
EDC 4B 20 of 43 Meeting Date: Monday, July 11, 2011
100 Municipal Drive
Trophy Club, Texas 76262Trophy Club Entities
Legislation Details (With Text)
File #: Version:22011-343-T Name:
Status:Type:Agenda Item Regular Session
File created:In control:7/8/2011 Economic Development Corporation 4B (EDC 4B)
On agenda:Final action:7/11/2011
Title:Receive Town Council update from Council member Strother; discussion of the same.
Attachments:
Action ByDate Action ResultVer.
Title
Receive Town Council update from Council member Strother; discussion of the same.
EDC 4B 21 of 43 Meeting Date: Monday, July 11, 2011
100 Municipal Drive
Trophy Club, Texas 76262Trophy Club Entities
Legislation Details (With Text)
File #: Version:12011-342-T Name:
Status:Type:Agenda Item Regular Session
File created:In control:7/8/2011 Economic Development Corporation 4B (EDC 4B)
On agenda:Final action:7/11/2011
Title:Discuss and take appropriate action regarding the approval of the June 28, 2011 Regular Session
meeting minutes.
Attachments:003 June 28 2011 Minutes.pdf
Action ByDate Action ResultVer.
Title
Discuss and take appropriate action regarding the approval of the June 28, 2011 Regular Session
meeting minutes.
EDC 4B 22 of 43 Meeting Date: Monday, July 11, 2011
MINUTES OF REGULAR SESSION FOR THE
ECONOMIC DEVELOPMENT CORPORATION 4B BOARD
LOCATION: 100 MUNICIPAL DRIVE, TROPHY CLUB, TEXAS
Tuesday, June 28, 2011
6:30 PM
STATE OF TEXAS §
COUNTY OF DENTON §
The Economic Development Corporation 4B of the Town of Trophy Club, Texas, met in Regular
Session on June 28, 2011. The meeting was held within the boundaries of the Town and was
open to the public.
EDC 4B DIRECTORS PRESENT:
James Hicks President
Dave Glaser Vice President
Dean Murray Secretary/Treasurer - arrived at 8:30 p.m.
Nick Sanders Director
Rebecca Shuman Director
EDC 4B DIRECTORS ABSENT:
Nicole Fontayne Director
Sean Weaver Director
STAFF AND GUEST(S) PRESENT:
Mike Slye Town Manager
Stephen Seidel Assistant Town Manager
April Reiling PIO/Marketing Manager
Glenn Strother Council Member
Bill Rose Council Member
Call to order and announce a quorum.
President Hicks, noting a quorum, called the regular session to order at 6:40 p.m.
President Hicks announced the absence of Directors Fontayne and Weaver.
Citizen Presentations
Citizens are allowed three (3) minutes to address the Board regarding an item over which the
Board has policy or oversight authority as provided by Texas law, the ethics order, or other
policy order.
No citizens addressed the Board.
PUBLIC HEARING
1. Public Hearing considering the expenditure of funds for the fiscal year 2011-2012
budget.
Opened at 6:40 p.m., no public comments were made. Closed at 6:41 p.m.
EDC 4B 23 of 43 Meeting Date: Monday, July 11, 2011
REGULAR SESSION
2. Discussion of Municipal Development District and TIF District.
Presentation by Town Manager Mike Slye who provided an overview of a plan to review the
function/capabilities/restructuring of EDC’s. He also explained the Municipal Development
District and the Crime Control District. Additionally, Slye explained what a TIF (Tax Increment
Financing) District is and why it may be beneficial for Trophy Club. He asked the Board to
consider funding a TIF district development project.
No action, update only.
3. Discussion of RFP for logo and website.
Discussion of preliminary RFP to be released in the next couple weeks. Staff is already fielding
questions from interested companies regarding proposal submissions.
No action, update only.
4. Discuss and take appropriate action regarding the EDC4B Budget.
Assistant Town Manager Seidel presented a basic budget overview and answered questions
from the Board.
Director Shuman suggested more money in the ‘meetings’ line item = from $500 to $1500.
Assistant Town Manager Seidel advised he will look at advertising line and refine amount for
magazine to include selling advertising to local businesses to off-set printing costs. Director
Sanders suggested renaming of ‘TIF District’ line item so that the Board is not obligated to
spend those dollars on that specific project. Director Sanders also suggested another look at
intergovernmental trans out; also questioned the need for an in-house color printer, considers
that a high number based on cost to print off-site. Director Shuman suggested staff check into
wide format option for printing (assess needs of office and see what we come up with). Director
Sanders suggested staff consider a regional publication in addition to the annual Trophy Club
magazine.
No action, update and discussion only.
5. Receive update on the Coupon Book Project.
Assistant Town Manager Seidel said coupon books went to the printer last week.
Secretary/Treasurer Murray arrived at 8:30 pm. and provided the following coupon booklet
numbers: $.42 for 10,000; $.47 for 5,000. The Board gave direction to staff to move forward with
printing 5,000 booklets.
6. Receive Assistant Town Manager update; discussion of same.
- Promotional Items
- Roundabout
- Highway 114 Beautification Landscaping Study
- Commercial property and current projects
- Cross Timbers Classic Sponsorship
EDC 4B 24 of 43 Meeting Date: Monday, July 11, 2011
Assistant Town Manager Seidel gave an update and answered questions from the Board.
7. Receive Council update from Council Member Strother; discussion of same.
Council member Strother updated board on the council retreat and discussed long-range strategic
planning, as well as joint planning sessions with MUD scheduled. Council member Strother also
added that golf cart community discussions are on table.
Secretary/Treasurer Murray arrived at 8:30 p.m. and President Hicks moved back to agenda item 5
for update from Secretary/Treasurer Murray.
8. Discuss and take appropriate action regarding the approval of the March 14, 2011 Regular
Session Meeting Minutes.
Director Sanders approved minutes. Director Shuman seconded. Motion carried unanimously.
9. Future Agenda Items.
The Board agreed to remove the following items:
- training for directors.
- TXDoT signage and costs.
- item number 8 regarding Beck property update.
Director Shuman suggested staff place homecoming participation on the next agenda.
10. Next meeting date: July 11, 2011.
President Hicks announced July 11, 2011 as the next meeting date.
Adjourn
Director Shuman made a motion to adjourn; Director Sanders seconded. President Hicks adjourned
the meeting at 8:44 p.m. Motion carried unanimously.
______________________________ _______________________________
James Hicks, President Dean Murray, Treasurer/Secretary
EDC 4B 25 of 43 Meeting Date: Monday, July 11, 2011
100 Municipal Drive
Trophy Club, Texas 76262Trophy Club Entities
Legislation Details (With Text)
File #: Version:12011-344-T Name:
Status:Type:Agenda Item Regular Session
File created:In control:7/8/2011 Economic Development Corporation 4B (EDC 4B)
On agenda:Final action:7/11/2011
Title:Discuss and take appropriate action regarding the Monthly Financials dated February 2011.
Attachments:February Financials for Packet.pdf
Action ByDate Action ResultVer.
Title
Discuss and take appropriate action regarding the Monthly Financials dated February 2011.
EDC 4B 26 of 43 Meeting Date: Monday, July 11, 2011
REVENUE
Sales Tax - General 126,273$ 11,074$ 30,089$ (96,184)$ 24%
Interest Income 2,000 36 201 (1,799) 10%
TOTAL REVENUE $ 128,273 $ 11,110 $ 30,290 $ (97,983)
EXPENDITURES
Auditing 1,000$ -$ -$ (1,000)$ 0%
Advertising 750 - 203 (547) 27%
Dues & Membership 200 - 250 50 125%
Travel & per diem 3,250 1,121 1,145 (2,105) 35%
Schools & Training 2,300 767 2,847 547 124%
Miscellaneous Expense 10,100 - 679 (9,421) 7%
EDC Projects 55,083 - 2,080 (53,003) 4%
Transfer to General Fund 25,666 2,758 10,660 (15,006) 42%
Transfer to Debt Service 26,246 - - (26,246) 0%
TOTAL EXPENDITURES $ 124,595 $ 4,645 $ 17,863 $ (106,732)
EXCESS/(DEFICIT)3,678$ 6,464$ 12,427$ 8,749$
% of
Budget
Year-to-
Date Actual
February
2011 Actual
2010-11
Budget Variance
CURRENT FISCAL YEAR, 2010-11
ECONOMIC DEVELOPMENT CORPORATION 4B FUND
February 28, 2011
5/12 Months (41.6% of Fiscal Year)
EDC 4B 27 of 43 Meeting Date: Monday, July 11, 2011
ASSETS
Cash In Bank - First Financial (6,911)$
Texpool - EDC4B Fund 321,812
TOTAL ASSETS 314,900$
LIABILITIES
Accounts Payable - Vendors 2,758$
TOTAL LIABILITIES 2,758$
NET ASSETS
Unrestricted 312,142$
TOTAL NET ASSETS 312,142$
ECONOMIC DEVELOPMENT CORPORATION 4B FUND
Balance Sheet
February 28, 2011
EDC 4B 28 of 43 Meeting Date: Monday, July 11, 2011
ECONOMIC DEVELOPMENT CORPORATION 4B FUND
February 2011
5/12 Months (41.6% of Fiscal Year)
REVENUES
Sales Tax – As required by the Government Accounting Standards Board, sales
tax is reported for the month it is collected by the vendor. February 2011
collections are remitted to the Town in April 2011. Receipts are reported on a
two month lag, therefore, February 2011 revenues reflect 3 months for the 2010-
2011 fiscal year (25% of fiscal year). .
EXPENDITURES
Economic Development Projects – Year-to-Date total reflects payment to
Catalyst Commercial.
Transfer to Town Interest & Sinking – The transfer to the Town Interest &
Sinking Fund reflects 25% of the annual debt service payment associated with
the $1.4 million bond issue for Trophy Club Pool.
Transfer to Town General Fund – The transfer to the Town General Fund
reflects the reimbursement for administration expenses.
Dues and Memberships – The actual expenditures reflect annual memberships
to the International Council of Shopping Centers (ICSC).
Schools and Training – Reflects webinar related to Texas Economic
Development Council. Also includes booth registration for ICSC.
Travel and Per Diem – Reflects deposit for hotel for ICSC conference.
EDC 4B 29 of 43 Meeting Date: Monday, July 11, 2011
100 Municipal Drive
Trophy Club, Texas 76262Trophy Club Entities
Legislation Details (With Text)
File #: Version:12011-345-T Name:
Status:Type:Agenda Item Regular Session
File created:In control:7/8/2011 Economic Development Corporation 4B (EDC 4B)
On agenda:Final action:7/11/2011
Title:Discuss and take appropriate action regarding the Monthly Financials dated March 2011.
Attachments:March Financials for Packet.pdf
Action ByDate Action ResultVer.
Title
Discuss and take appropriate action regarding the Monthly Financials dated March 2011.
EDC 4B 30 of 43 Meeting Date: Monday, July 11, 2011
REVENUE
Sales Tax - General 126,273$ 8,246$ 38,334$ (87,939)$ 30%
Interest Income 2,000 41 242 (1,758) 12%
TOTAL REVENUE $ 128,273 $ 8,287 $ 38,577 $ (89,696)
EXPENDITURES
Auditing 1,000$ 1,091$ 1,091$ 91$ 109%
Advertising 750 547 750 - 100%
Dues & Membership 200 - 250 50 125%
Travel & per diem 3,250 - 1,145 (2,105) 35%
Schools & Training 2,300 39 2,886 586 125%
Miscellaneous Expense 10,100 1,528 2,207 (7,893) 22%
EDC Projects 55,083 - 2,080 (53,003) 4%
Transfer to General Fund 25,666 2,958 13,618 (12,048) 53%
Transfer to Debt Service 26,246 - - (26,246) 0%
TOTAL EXPENDITURES $ 124,595 $ 6,163 $ 24,026 $ (100,569)
EXCESS/(DEFICIT)3,678$ 2,124$ 14,551$ 10,873$
CURRENT FISCAL YEAR, 2010-11
ECONOMIC DEVELOPMENT CORPORATION 4B FUND
March 31, 2011
6/12 Months (50% of Fiscal Year)
% of
Budget
Year-to-
Date Actual
March 2011
Actual
2010-11
Budget Variance
EDC 4B 31 of 43 Meeting Date: Monday, July 11, 2011
ASSETS
Cash In Bank - First Financial (12,874)$
Texpool - EDC4B Fund 330,098
TOTAL ASSETS 317,224$
LIABILITIES
Accounts Payable - Vendors 2,958$
TOTAL LIABILITIES 2,958$
NET ASSETS
Unrestricted 314,266$
TOTAL NET ASSETS 314,266$
ECONOMIC DEVELOPMENT CORPORATION 4B FUND
Balance Sheet
March 31, 2011
EDC 4B 32 of 43 Meeting Date: Monday, July 11, 2011
ECONOMIC DEVELOPMENT CORPORATION 4B FUND
March 2011
6/12 Months (50% of Fiscal Year)
REVENUES
Sales Tax – As required by the Government Accounting Standards Board, sales
tax is reported for the month it is collected by the vendor. March 2011 collections
are remitted to the Town in May 2011. Receipts are reported on a two month
lag, therefore, March 2011 revenues reflect 4 months for the 2010-2011 fiscal
year (33.3% of fiscal year). .
EXPENDITURES
Transfer to Town General Fund – The transfer to the Town General Fund
reflects the reimbursement for administration expenses.
Audit – EDC 4B portion of the audit.
Miscellaneous Expense – EDC Development Guide advertisement approved by
Town Manager Emmons in the prior year but invoice was received in the current
fiscal year. The Board approved the expenditure.
EDC 4B 33 of 43 Meeting Date: Monday, July 11, 2011
100 Municipal Drive
Trophy Club, Texas 76262Trophy Club Entities
Legislation Details (With Text)
File #: Version:12011-346-T Name:
Status:Type:Agenda Item Regular Session
File created:In control:7/8/2011 Economic Development Corporation 4B (EDC 4B)
On agenda:Final action:7/11/2011
Title:Discuss and take appropriate action regarding the Monthly Financials dated April 2011.
Attachments:April 2011 Financials for Packet.pdf
Action ByDate Action ResultVer.
Title
Discuss and take appropriate action regarding the Monthly Financials dated April 2011.
EDC 4B 34 of 43 Meeting Date: Monday, July 11, 2011
REVENUE
Sales Tax - General 126,273$ 17,201$ 55,535$ (70,738)$ 44%
Interest Income 2,000 31 273 (1,727) 14%
TOTAL REVENUE $ 128,273 $ 17,232 $ 55,808 $ (72,465)
EXPENDITURES
Auditing 1,000$ -$ 1,091$ 91$ 109%
Advertising 750 - 750 - 100%
Dues & Membership 200 - 250 50 125%
Travel & per diem 3,250 - 1,145 (2,105) 35%
Schools & Training 2,300 - 2,886 586 125%
Miscellaneous Expense 10,100 250 2,457 (7,643) 24%
EDC Projects 55,083 5,000 7,080 (48,003) 13%
Transfer to General Fund 25,666 3,000 16,618 (9,048) 65%
Transfer to Debt Service 26,246 15,311 15,311 (10,935) 58%
TOTAL EXPENDITURES $ 124,595 $ 23,560 $ 47,586 $ (77,009)
EXCESS/(DEFICIT)3,678$ (6,329)$ 8,222$ 4,544$
CURRENT FISCAL YEAR, 2010-11
ECONOMIC DEVELOPMENT CORPORATION 4B FUND
April 30, 2011
7/12 Months (58.3% of Fiscal Year)
% of
Budget
Year-to-
Date Actual
April 2011
Actual
2010-11
Budget Variance
EDC 4B 35 of 43 Meeting Date: Monday, July 11, 2011
ASSETS
Cash In Bank - First Financial 301,762$
Texpool - EDC4B Fund 9,175
TOTAL ASSETS 310,937$
LIABILITIES
Accounts Payable - Vendors 3,000$
TOTAL LIABILITIES 3,000$
NET ASSETS
Unrestricted 307,937$
TOTAL NET ASSETS 307,937$
ECONOMIC DEVELOPMENT CORPORATION 4B FUND
Balance Sheet
April 30, 2011
EDC 4B 36 of 43 Meeting Date: Monday, July 11, 2011
ECONOMIC DEVELOPMENT CORPORATION 4B FUND
April 2011
7/12 Months (58.3% of Fiscal Year)
REVENUES
Sales Tax – As required by the Government Accounting Standards Board, sales
tax is reported for the month it is collected by the vendor. April 2011 collections
are remitted to the Town in June 2011. Receipts are reported on a two month
lag, therefore, April 2011 revenues reflect 5 months for the 2010-2011 fiscal year
(41.6% of fiscal year). .
EXPENDITURES
EDC Projects - Marketing items (shopping bags and water bottles).
Transfer to Town General Fund – The transfer to the Town General Fund
reflects the reimbursement for administration expenses.
Transfer to Debt Service – EDC 4B annual contribution for $1.4 million debt
issue. This amount reflects catch up for contributions from October 2010 to April
2011.
Miscellaneous Expense – Cross Timbers bike race sponsorship.
EDC 4B 37 of 43 Meeting Date: Monday, July 11, 2011
100 Municipal Drive
Trophy Club, Texas 76262Trophy Club Entities
Legislation Details (With Text)
File #: Version:12011-347-T Name:
Status:Type:Agenda Item Regular Session
File created:In control:7/8/2011 Economic Development Corporation 4B (EDC 4B)
On agenda:Final action:7/11/2011
Title:Discuss and take appropriate action regarding the Monthly Financials dated May 2011.
Attachments:May 2011 Financials for Packet.pdf
Action ByDate Action ResultVer.
Title
Discuss and take appropriate action regarding the Monthly Financials dated May 2011.
EDC 4B 38 of 43 Meeting Date: Monday, July 11, 2011
REVENUE
Sales Tax - General 126,273$ 22,139$ 77,674$ (48,599)$ 62%
Interest Income 2,000 - 273 (1,727) 14%
TOTAL REVENUE $ 128,273 $ 22,139 $ 77,947 $ (50,326)
EXPENDITURES
Auditing 1,000$ -$ 1,091$ 91$ 109%
Advertising 750 - 750 - 100%
Dues & Membership 200 - 250 50 125%
Travel & per diem 3,250 - 1,145 (2,105) 35%
Schools & Training 2,300 - 2,886 586 125%
Miscellaneous Expense 10,100 - 2,457 (7,643) 24%
EDC Projects 55,083 56 7,136 (47,947) 13%
Transfer to General Fund 25,666 3,342 19,959 (5,707) 78%
Transfer to Debt Service 26,246 2,187 17,498 (8,748) 67%
TOTAL EXPENDITURES $ 124,595 $ 5,585 $ 53,171 $ (71,424)
EXCESS/(DEFICIT)3,678$ 16,553$ 24,776$ 21,098$
% of
Budget
Year-to-
Date Actual
May 2011
Actual
2010-11
Budget Variance
CURRENT FISCAL YEAR, 2010-11
ECONOMIC DEVELOPMENT CORPORATION 4B FUND
May 31, 2011
8/12 Months (66.6% of Fiscal Year)
EDC 4B 39 of 43 Meeting Date: Monday, July 11, 2011
ASSETS
Cash In Bank - First Financial (56)$
Texpool - EDC4B Fund 309,025
Accounts Receivable - Sales Tax 18,864
TOTAL ASSETS 327,832$
LIABILITIES
Accounts Payable - Vendors 3,342$
TOTAL LIABILITIES 3,342$
NET ASSETS
Unrestricted 324,491$
TOTAL NET ASSETS 324,491$
ECONOMIC DEVELOPMENT CORPORATION 4B FUND
Balance Sheet
May 31, 2011
EDC 4B 40 of 43 Meeting Date: Monday, July 11, 2011
ECONOMIC DEVELOPMENT CORPORATION 4B FUND
May 2011
8/12 Months (66.6% of Fiscal Year)
REVENUES
Sales Tax – As required by the Government Accounting Standards Board, sales
tax is reported for the month it is collected by the vendor. May 2011 collections
are remitted to the Town in July 2011. Receipts are reported on a two month lag,
therefore, May 2011 revenues reflect 6 months for the 2010-2011 fiscal year
(50% of fiscal year). .
EXPENDITURES
Transfer to Town General Fund – The transfer to the Town General Fund
reflects the reimbursement for administration expenses.
Transfer to Debt Service – EDC 4B annual contribution for $1.4 million debt
issue. This amount reflects catch up for contributions from October 2010 to April
2011.
EDC 4B 41 of 43 Meeting Date: Monday, July 11, 2011
100 Municipal Drive
Trophy Club, Texas 76262Trophy Club Entities
Legislation Details (With Text)
File #: Version:12010-567-T Name:
Status:Type:Agenda Item Regular Session
File created:In control:10/8/2010 Economic Development Corporation 4B (EDC 4B)
On agenda:Final action:10/11/2010
Title:Future Agenda Items.
Attachments:EDC 4B Future Agenda Items.pdf
Action ByDate Action ResultVer.
Title
Future Agenda Items.
EDC 4B 42 of 43 Meeting Date: Monday, July 11, 2011
EDC 4B Future Agenda Items
1. Possible economic development incentives/projects such as a scene of lights
through a pathway – go to churches, community groups, etc.
2. Discuss Board’s involvement/partnering with the Chamber and area associations
regarding both their programs and EDC 4B projects
3. Clock Tower and Maintenance
4. “President’s Council”
5. Current tax revenue/generation and some sort of event, such as a Taste of Addison
type of event that EDC 4B could work with the Parks & Rec Board
6. Strategic Workshop with Key Business Owners
7. Recognize possible key Planned Development issues and areas of improvement
and create action plan to recommend to Council
Last Updated: June 11, 2010
EDC 4B 43 of 43 Meeting Date: Monday, July 11, 2011