Agenda Packet EDC 4B 10/19/2011Economic Development Corporation 4B
(EDC 4B)
Trophy Club Entities
Meeting Agenda
100 Municipal Drive
Trophy Club, Texas 76262
Svore Municipal Building Boardroom7:00 PMWednesday, October 19, 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.
REGULAR SESSION
1.2011-537-T Election of Officers.
2.2011-538-T Discuss and take appropriate action regarding the ICSC Conference
3.2011-539-T Discuss and take appropriate action regarding Strategic Planning.
4.2011-540-T Discuss and take appropriate action regarding the TIF contract.
5.2011-541-T Commercial property update:
- 26 Acres
- Regency
- Trophy Wood
- Village Center
- Trophy Club Commons
6.2011-542-T Discuss and take appropriate action regarding the approval of the September 27, 2011
Regular Session meeting minutes.
005 September 27 2011 Minutes.pdfAttachments:
7.2011-543-T Discuss and take appropriate action regarding the Monthly Financials dated August
2011.
August 2011 Financials.pdf
August 2011 Financials Explanation.pdf
Attachments:
8.2011-544-T Future Agenda Items.
9.2011-545-T Next meeting date: November 14, 2011
Economic Development Corporation 4B Page 1 of 17 Wednesday, October 19, 2011
October 19, 2011Economic Development
Corporation 4B (EDC 4B)
Meeting Agenda
Adjourn
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 October 11, 2011 by 5:00 P.M.
in accordance with Chapter 551, Texas Government Code.
______________________________
April 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: ___________________________
Economic Development Corporation 4B Page 2 of 17 Wednesday, October 19, 2011
100 Municipal Drive
Trophy Club, Texas 76262Trophy Club Entities
Legislation Details (With Text)
File #: Version:12011-537-T Name:
Status:Type:Agenda Item Regular Session
File created:In control:10/10/2011 Economic Development Corporation 4B (EDC 4B)
On agenda:Final action:10/19/2011
Title:Election of Officers.
Attachments:
Action ByDate Action ResultVer.
Title
Election of Officers.
Background Information
The Board will need to elect the following officers: President, Vice President, Secretary/Treasurer
Economic Development Corporation 4B Page 3 of 17 Wednesday, October 19, 2011
100 Municipal Drive
Trophy Club, Texas 76262Trophy Club Entities
Legislation Details (With Text)
File #: Version:12011-538-T Name:
Status:Type:Agenda Item Regular Session
File created:In control:10/10/2011 Economic Development Corporation 4B (EDC 4B)
On agenda:Final action:10/19/2011
Title:Discuss and take appropriate action regarding the ICSC Conference.
Attachments:
Action ByDate Action ResultVer.
Title
Discuss and take appropriate action regarding the ICSC Conference
Economic Development Corporation 4B Page 4 of 17 Wednesday, October 19, 2011
100 Municipal Drive
Trophy Club, Texas 76262Trophy Club Entities
Legislation Details (With Text)
File #: Version:12011-539-T Name:
Status:Type:Agenda Item Regular Session
File created:In control:10/10/2011 Economic Development Corporation 4B (EDC 4B)
On agenda:Final action:10/19/2011
Title:Discuss and take appropriate action regarding Strategic Planning.
Attachments:
Action ByDate Action ResultVer.
Title
Discuss and take appropriate action regarding Strategic Planning.
Background Information
The Board requested that Strategic Planning be placed on the agenda. The Council has appropriated dollars to go
through a Long Range Planning workshop during FY12. Staff is currently working with Council to find an appropriate
facilitator and calendar dates.
Economic Development Corporation 4B Page 5 of 17 Wednesday, October 19, 2011
100 Municipal Drive
Trophy Club, Texas 76262Trophy Club Entities
Legislation Details (With Text)
File #: Version:12011-540-T Name:
Status:Type:Agenda Item Regular Session
File created:In control:10/10/2011 Economic Development Corporation 4B (EDC 4B)
On agenda:Final action:10/19/2011
Title:Discuss and take appropriate action regarding the TIF contract.
Attachments:
Action ByDate Action ResultVer.
Title
Discuss and take appropriate action regarding the TIF contract.
Background Information
The Board opted to postpone initiating TIF District development until 2012. At the Board's request, they asked to have a
TIF District agenda item.
Economic Development Corporation 4B Page 6 of 17 Wednesday, October 19, 2011
100 Municipal Drive
Trophy Club, Texas 76262Trophy Club Entities
Legislation Details (With Text)
File #: Version:12011-541-T Name:
Status:Type:Agenda Item Regular Session
File created:In control:10/10/2011 Economic Development Corporation 4B (EDC 4B)
On agenda:Final action:10/19/2011
Title:Commercial property update:
- 26 Acres
- Regency
- Trophy Wood
- Village Center
- Trophy Club Commons
Attachments:
Action ByDate Action ResultVer.
Title
Commercial property update:
- 26 Acres
- Regency
- Trophy Wood
- Village Center
- Trophy Club Commons
Economic Development Corporation 4B Page 7 of 17 Wednesday, October 19, 2011
100 Municipal Drive
Trophy Club, Texas 76262Trophy Club Entities
Legislation Details (With Text)
File #: Version:12011-542-T Name:
Status:Type:Agenda Item Regular Session
File created:In control:10/10/2011 Economic Development Corporation 4B (EDC 4B)
On agenda:Final action:10/19/2011
Title:Discuss and take appropriate action regarding the approval of the September 27, 2011 Regular
Session meeting minutes.
Attachments:005 September 27 2011 Minutes.pdf
Action ByDate Action ResultVer.
Title
Discuss and take appropriate action regarding the approval of the September 27, 2011 Regular Session meeting
minutes.
Economic Development Corporation 4B Page 8 of 17 Wednesday, October 19, 2011
MINUTES OF REGULAR SESSION FOR THE
ECONOMIC DEVELOPMENT CORPORATION 4B BOARD
LOCATION: 100 MUNICIPAL DRIVE, TROPHY CLUB, TEXAS
Tuesday, September 27, 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 September 27, 2011. The meeting was held within the boundaries of the Town and was
open to the public.
EDC 4B DIRECTORS PRESENT:
James Hicks, President
Dean Murray, Secretary/Treasurer
Nick Sanders, Director
Rebecca Shuman, Director
Nicole Fontayne, Director
Sean Weaver, Director
EDC 4B DIRECTORS ABSENT:
Dave Glaser, Vice President
STAFF AND GUEST(S) PRESENT:
Stephen Seidel, Assistant Town Manager
April Reiling, PIO/Marketing Manager
Larry Hoover, Council Member/Mayor Pro Tem
Bill Rose, Council Member
Margi Cantrell, Council Member
Call to order and announce a quorum.
President Hicks, noting a quorum, called the regular session to order at 6:30 p.m.
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.
REGULAR SESSION
1. Discuss and take appropriate action regarding the TIF contract.
Assistant Town Manager Seidel stated that if the Board would like to use current year values then the
Board would need to take action immediately in order to conduct the appropriate Public Hearings prior
to December 31. There are advantages and disadvantages to starting the process during 2012. The
TIF creation is not immediately necessary, but it is an item that needs to be completed. Dollars are
budgeted in the FY12 Budget to complete the project. Director Sanders felt the Board should delay the
TIF contract consideration. Director Shuman suggested the TIF contract remain on Future Agenda
Items. Board requested a presentation from Scott Polikov regarding his TIF proposal.
Economic Development Corporation 4B Page 9 of 17 Wednesday, October 19, 2011
2. Discuss and take appropriate action regarding the website/logo RFP.
Eisenberg and Associates made a presentation to the Board regarding their Logo/Website redesign
proposal. Director Sanders made a motion to award $35,000 to Eisenberg and Associates with the
expense coming from line item EDC 4B projects from 2010 – 2011 and to approve an additional
expenditure of up to $5,000 for further needs such as photography and printing. Seconded by Director
Murray. Motion modified to include the words authorizing President Hicks to sign any contracts only
prior to being vetted by the Town Attorney. Seconded by Director Fontayne. Motion passed
unanimously.
3. Board Interviews.
The Board conducted applicant interviews.
4. Coupon Book update.
Assistant Town Manager Seidel gave an update on the coupon book circulation. The remaining coupon
books were provided to the Wounded Warriors special event in order to be passed out to visitors
coming to the concert.
5. Discuss and take appropriate action regarding the ICSC Conference.
The Board discussed the ICSC Conference planning and will discuss again at the next meeting.
6. Governors Office for Economic Development trip overview.
President Hicks, Director Shuman, and Seidel discussed the trip to the Governor’s Office for Economic
Development. Everyone felt it was a beneficial trip and learned quite a bit about State opportunities.
Additionally, Trophy Club was able to meet with Representative Parker and his staff.
7. Training update.
Directors Shuman and Fontayne attended workshops and reported highlights to the Board.
8. Commercial property update.
Assistant Town Manager Seidel provided an update to the Board regarding the 26-acre property,
Trophy Wood business area, Regency, and Village Center.
9. Discuss and take appropriate action regarding the approval of the July 11, 2011 Regular
Session Meeting Minutes.
Director Sanders made a motion to approve, seconded by Director Weaver. Motion passed
unanimously.
10. Discuss and take appropriate action regarding the Monthly Financials dated June 2011.
Director Murray made a motion to accept June and July financials as stated. Motion was seconded by
Director Sanders. Motion passed unanimously.
11. Discuss and take appropriate action regarding the Monthly Financials dated July 2011.
Economic Development Corporation 4B Page 10 of 17 Wednesday, October 19, 2011
12. Future Agenda Items.
- Strategic Planning
- TIF presentation from Scott Polikov
- Regular updates on website/logo progress
13. Next meeting date: October 10, 2011.
Depending on the Council schedule, there is a chance the Board would need to postpone its regular
meeting to a different date in October. Seidel would contact the Board with options.
EXECUTIVE SESSION
Director Sanders moved EDC 4B convene into executive session to discuss or deliberate the
appointment, employment, evaluation, reassignment, duties, discipline or dismissal of a public officer or
employee pursuant to Section 551.074 (a) (1) of the Texas Open Meetings Act Personnel Matters
(§551.074(a)(1)): (1) Appointment of Directors. Motion seconded by Director Shuman. The Board
entered executive session at 10:05 p.m. The Board convened back into regular session at 10:30 p.m.
The Board took no action and the meeting was adjourned at 10:31 p.m.
_____________________________ ____________________________
James Hicks, President Dean Murray, Treasurer/Secretary
Economic Development Corporation 4B Page 11 of 17 Wednesday, October 19, 2011
100 Municipal Drive
Trophy Club, Texas 76262Trophy Club Entities
Legislation Details (With Text)
File #: Version:12011-543-T Name:
Status:Type:Agenda Item Regular Session
File created:In control:10/10/2011 Economic Development Corporation 4B (EDC 4B)
On agenda:Final action:10/19/2011
Title:Discuss and take appropriate action regarding the Monthly Financials dated August 2011.
Attachments:August 2011 Financials.pdf
August 2011 Financials Explanation.pdf
Action ByDate Action ResultVer.
Title
Discuss and take appropriate action regarding the Monthly Financials dated August 2011.
Economic Development Corporation 4B Page 12 of 17 Wednesday, October 19, 2011
REVENUE
Sales Tax - General 126,273$ 11,366$ 110,089$ (16,184)$ 87%
Interest Income 2,000 27 400 (1,600) 20%
TOTAL REVENUE $ 128,273 $ 11,393 $ 110,489 $ (17,784)
EXPENDITURES
Auditing 1,000$ -$ 1,091$ 91$ 109%
Advertising 750 - 787 37 105%
Dues & Membership 200 100 450 250 225%
Travel & per diem 3,250 319 1,463 (1,787) 45%
Schools & Training 2,300 - 3,061 761 133%
Miscellaneous Expense 10,100 66 2,523 (7,578) 25%
EDC Projects 55,083 517 11,266 (43,817) 20%
Transfer to General Fund 25,666 3,522 28,521 2,855 111%
Transfer to Debt Service 26,246 2,187 24,059 (2,187) 92%
TOTAL EXPENDITURES $ 124,595 $ 6,711 $ 73,221 $ (51,374)
EXCESS/(DEFICIT)3,678$ 4,682$ 37,268$ 33,590$
CURRENT FISCAL YEAR, 2010-11
ECONOMIC DEVELOPMENT CORPORATION 4B FUND
August 31, 2011
11/12 Months (91.6% of Fiscal Year)
% of
Budget
Year-to-
Date Actual
August
2011 Actual
2010-11
Budget Variance
Economic Development Corporation 4B Page 13 of 17 Wednesday, October 19, 2011
ASSETS
Cash In Bank - First Financial (8,445)$
Texpool - EDC4B Fund 325,094
Accounts Receivable - Sales Tax 20,769
TOTAL ASSETS 337,418$
LIABILITIES
Accounts Payable - Vendors 435$
TOTAL LIABILITIES 435$
NET ASSETS
Unrestricted 336,983$
TOTAL NET ASSETS 336,983$
ECONOMIC DEVELOPMENT CORPORATION 4B FUND
8/31/2011
11/12 Months (91.6% of Fiscal Year)
Economic Development Corporation 4B Page 14 of 17 Wednesday, October 19, 2011
ECONOMIC DEVELOPMENT CORPORATION 4B FUND
August 2011
11/12 Months (91.6% 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. August 2011
collections are remitted to the Town in October 2011. Therefore, receipts
reflected on the August 2011 financials reflect 11 months for the 2010-2011 fiscal
year (91.6% 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.
Economic Development Corporation 4B Page 15 of 17 Wednesday, October 19, 2011
100 Municipal Drive
Trophy Club, Texas 76262Trophy Club Entities
Legislation Details (With Text)
File #: Version:12011-544-T Name:
Status:Type:Agenda Item Regular Session
File created:In control:10/10/2011 Economic Development Corporation 4B (EDC 4B)
On agenda:Final action:10/19/2011
Title:Future Agenda Items.
Attachments:
Action ByDate Action ResultVer.
Title
Future Agenda Items.
Economic Development Corporation 4B Page 16 of 17 Wednesday, October 19, 2011
100 Municipal Drive
Trophy Club, Texas 76262Trophy Club Entities
Legislation Details (With Text)
File #: Version:12011-545-T Name:
Status:Type:Agenda Item Regular Session
File created:In control:10/10/2011 Economic Development Corporation 4B (EDC 4B)
On agenda:Final action:10/19/2011
Title:Next meeting date: November 14, 2011
Attachments:
Action ByDate Action ResultVer.
Title
Next meeting date: November 14, 2011
Economic Development Corporation 4B Page 17 of 17 Wednesday, October 19, 2011