Agenda Packet EDC 4B 02/13/2012Economic Development Corporation 4B
(EDC 4B)
Trophy Club Entities
Meeting Agenda
100 Municipal Drive
Trophy Club, Texas 76262
Svore Municipal Building Boardroom6:30 PMMonday, February 13, 2012
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
1.2012-37-T Update on CFAB recommendation to Council regarding 1% sales tax allocation.
2.2012-36-T Update and discussion regarding Logo\Website.
3.2012-43-T Update and discussion regarding Developer Luncheon.
4.2012-38-T Discuss and take appropriate action regarding the approval of the January 5, 2012
Regular Session meeting minutes.
001 January 5 2012 Minutes.pdfAttachments:
5.2012-39-T Discuss and take appropriate action regarding the approval of the December 2011
financials.
December 2011 Financials.pdfAttachments:
6.2012-40-T Assistant Town Manager Update:
- PD-30
- Regency
- Trophy Wood
- Commons
7.2012-41-T Future Agenda Items.
EDC 4B Future Agenda Items.pdfAttachments:
8.2012-42-T Next meeting date: March 12, 2012.
Adjourn
Economic Development Corporation 4B Page 1 of 19 Monday, February 13, 2012
February 13, 2012Economic 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 Friday, February 10, 2012 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 19 Monday, February 13, 2012
100 Municipal Drive
Trophy Club, Texas 76262Trophy Club Entities
Legislation Details (With Text)
File #: Version:12012-37-T Name:
Status:Type:Agenda Item Regular Session
File created:In control:2/10/2012 Economic Development Corporation 4B (EDC 4B)
On agenda:Final action:2/13/2012
Title:Update on CFAB recommendation to Council regarding 1% sales tax allocation.
Attachments:
Action ByDate Action ResultVer.
Title
Update on CFAB recommendation to Council regarding 1% sales tax allocation.
Economic Development Corporation 4B Page 3 of 19 Monday, February 13, 2012
100 Municipal Drive
Trophy Club, Texas 76262Trophy Club Entities
Legislation Details (With Text)
File #: Version:12012-36-T Name:
Status:Type:Agenda Item Regular Session
File created:In control:2/10/2012 Economic Development Corporation 4B (EDC 4B)
On agenda:Final action:2/13/2012
Title:Update and discussion regarding Logo\Website.
Attachments:
Action ByDate Action ResultVer.
Title
Update and discussion regarding Logo\Website.
Economic Development Corporation 4B Page 4 of 19 Monday, February 13, 2012
100 Municipal Drive
Trophy Club, Texas 76262Trophy Club Entities
Legislation Details (With Text)
File #: Version:12012-43-T Name:
Status:Type:Agenda Item Regular Session
File created:In control:2/10/2012 Economic Development Corporation 4B (EDC 4B)
On agenda:Final action:2/13/2012
Title:Update and discussion regarding Developer Luncheon.
Attachments:
Action ByDate Action ResultVer.
Title
Update and discussion regarding Developer Luncheon.
Economic Development Corporation 4B Page 5 of 19 Monday, February 13, 2012
100 Municipal Drive
Trophy Club, Texas 76262Trophy Club Entities
Legislation Details (With Text)
File #: Version:12012-38-T Name:
Status:Type:Agenda Item Regular Session
File created:In control:2/10/2012 Economic Development Corporation 4B (EDC 4B)
On agenda:Final action:2/13/2012
Title:Discuss and take appropriate action regarding the approval of the January 5, 2012 Regular Session
meeting minutes.
Attachments:001 January 5 2012 Minutes.pdf
Action ByDate Action ResultVer.
Title
Discuss and take appropriate action regarding the approval of the January 5, 2012 Regular Session meeting minutes.
Economic Development Corporation 4B Page 6 of 19 Monday, February 13, 2012
MINUTES OF REGULAR SESSION FOR THE
ECONOMIC DEVELOPMENT CORPORATION 4B BOARD
LOCATION: 100 MUNICIPAL DRIVE, TROPHY CLUB, TEXAS
Thursday, January 5, 2012
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 January 5, 2012. 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
Randall Conn, Director
Rebecca Shuman, Director
Nicole Fontayne, Director
Sean Weaver, Director
Larry Mundy, Director
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
Greg Lamont, Resident
Call to order and announce a quorum.
President Hicks, noting a quorum, called the regular session to order at 6:31 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. Election of Officers.
Deferred until Director Rebecca Shuman and Director Dean Murray arrive.
At 7:15 p.m. Director Hicks opened the floor for the office of President. Director Murray made a motion
to name Director Hicks President and Director Nicole Fontayne seconded the motion. Motion passed
unanimously.
Director Hicks opened the floor for the office of Vice President. Director Murray made a motion to name
Director Shuman Vice President and Director Randall Conn seconded the motion. Motion passed
unanimously.
Director Hicks opened the floor for the office of Secretary/Treasurer. Director Fontaine made a motion
to name Director Murray Secretary/Treasurer and Director Shuman seconded the motion. Motion
passed unanimously.
Economic Development Corporation 4B Page 7 of 19 Monday, February 13, 2012
2. Discuss and take appropriate action regarding the ICSC Conference.
Assistant Town Manager Stephen Seidel provided an overview of the ICSC Conference. Director
Fontayne suggested the new board members meet with Assistant Town Manager Seidel to gain context
regarding Trophy Club outside economic development perceptions.
3. Discuss and take appropriate action regarding Strategic Planning.
Assistant Town Manager Seidel provided an overview of the strategic planning history with the EDC 4B
board and previous Town Councils. He provided an overview of the strategic planning initiatives that
the Town Council and staff have recently pursued.
Director Shuman arrived at 6:45 p.m.
4. Discuss and take appropriate action regarding Developer Luncheon.
Assistant Town Manager Seidel provided an overview regarding the progress of hosting a developer’s
luncheon in Trophy Club. He advised the board that several surrounding cities were planning a similar
luncheon, so the Chamber had taken on a regional approach to bringing prospective developers and
business owners to the area by putting on a developer’s luncheon event for Trophy Club and
surrounding municipalities. Assistant Town Manager Seidel will keep the board advised regarding the
details.
Director Murray arrived at 6:57 p.m.
Director Shuman suggested a bus tour that picks up attendees at strategic locations around DFW and
drives the group through each municipality.
5. Discuss and take appropriate action regarding the TIF contract.
Assistant Town Manager Seidel advised that at this point the Town had not moved forward with the TIF
contract. The project is dependent on other development activity going on in Town.
6. Commercial property update:
− 26 Acres
− Regency
− Trophy Wood
− Village Center
− Trophy Club Commons
Assistant Town Manager Seidel provided an overview regarding each commercial property listed
above.
7. Discuss and take appropriate action regarding PD-30.
Assistant Town Manager Seidel provided an update regarding PD-30. He asked the board to support
economic development in this community and pass a motion to support the council in creating
economic development opportunities.
Economic Development Corporation 4B Page 8 of 19 Monday, February 13, 2012
Director Shawn Weaver made a motion to approve a recommendation to Town Council regarding PD-
30 and the motion was seconded by Director Murray. The motion failed.
Director Weaver made a motion to approve the following recommendation to Town Council regarding
PD-30 and the motion was seconded by Director Randall Conn: The EDC-4B Board recommends that
the Town Council continue to refine and ultimately approve PD-30 to develop retail and commercial
opportunities that preserve and enhance the Town’s quality of life and is consistent with the Town’s
strategic planning and visioning efforts.
Motion passed with a 6-1 vote. Director Fontayne voted against the motion.
8. Discuss and take appropriate action regarding the approval of the September 27, 2011
Regular Session meeting minutes.
Director Fontayne made a motion to accept the minutes as presented and Director Shuman seconded
the motion. The motion passed with Director Conn abstaining.
9. Discuss and take appropriate action regarding the Monthly Financials dated:
− August 2011
− September 2011
− October 2011
− November 2011
Director Shuman made a motion to approve all financial statements above as presented. The motion
was seconded by Director Weaver. The motion carried unanimously.
10. Future Agenda Items.
Assistant Town Manager Seidel discussed the upcoming joint workshop with Council regarding the
logo/website redesign. Director Fontayne requested a status report regarding the logo/website.
Assistant Town Manager Seidel provided an update regarding the potential gas pumps going in at Tom
Thumb.
Assistant Town Manager Seidel advised the board regarding a pre-con meeting for Hampton Inn &
Suites scheduled for next week.
11. Next meeting date: February 13, 2012
Assistant Town Manager Seidel advised that February 6, 2012 at 6:00 p.m. could possibly be a joint
workshop with Council regarding the logo/website redesign.
Director Shuman requested the joint workshop be held on February13 instead of February 6 to better
accommodate the EDC 4B meeting schedule.
Assistant Town Manager will check into the proposed meeting date.
Adjourned at 9:10 p.m.
Director Shuman adjourned and Director Larry Mundy seconded.
Economic Development Corporation 4B Page 9 of 19 Monday, February 13, 2012
_____________________________ ____________________________
James Hicks, President Dean Murray, Treasurer/Secretary
Economic Development Corporation 4B Page 10 of 19 Monday, February 13, 2012
100 Municipal Drive
Trophy Club, Texas 76262Trophy Club Entities
Legislation Details (With Text)
File #: Version:12012-39-T Name:
Status:Type:Agenda Item Regular Session
File created:In control:2/10/2012 Economic Development Corporation 4B (EDC 4B)
On agenda:Final action:2/13/2012
Title:Discuss and take appropriate action regarding the approval of the December 2011 financials.
Attachments:December 2011 Financials.pdf
Action ByDate Action ResultVer.
Title
Discuss and take appropriate action regarding the approval of the December 2011 financials.
Economic Development Corporation 4B Page 11 of 19 Monday, February 13, 2012
REVENUE
Sales Tax - General 140,656$ 10,574$ 35,225$ (105,431)$ 25%
Interest Income 1,000 - - (1,000) 0%
Advertising Revenue 20,000 - 2,300 (17,700) 12%
TOTAL REVENUE $ 161,656 $ 10,574 $ 37,525 $ (124,131)
EXPENDITURES
Auditing 1,000$ -$ -$ (1,000)$ 0%
Office Supplies 3,000$ -$ 872$ (2,128)$ 29%
Advertising 21,500 500 500 (21,000) 2%
Dues & Membership 250 - 50 (200) 20%
Travel & per diem 6,800 - 2,187 (4,613) 32%
Schools & Training 2,320 - 1,376 (944) 59%
Miscellaneous Expense 8,600 - - (8,600) 0%
EDC Projects 63,706 5,065 5,078 (58,628) 8%
Transfer to General Fund 27,697 4,320 12,273 (15,424) 44%
Transfer to Debt Service 26,783 - - (26,783) 0%
TOTAL EXPENDITURES $ 161,656 $ 9,885 $ 22,337 $ (139,319)
EXCESS/(DEFICIT)-$ 689$ 15,189$
CURRENT FISCAL YEAR, 2011-12
ECONOMIC DEVELOPMENT CORPORATION 4B FUND
December 31, 2011
3/12 Months (25% of Fiscal Year)
% of
Budget
Year-to-Date
Actual
December
2011 Actual
2011-12
Budget Variance
Economic Development Corporation 4B Page 12 of 19 Monday, February 13, 2012
ASSETS
Cash In Bank - First Financial (30,761)$
Texpool - EDC4B Fund 367,535
Accounts Receivable - Sales Tax 24,651
TOTAL ASSETS 361,426$
LIABILITIES
Accounts Payable - Vendors 5,065$
TOTAL LIABILITIES 5,065$
NET ASSETS
Unrestricted 356,361$
TOTAL NET ASSETS 356,361$
ECONOMIC DEVELOPMENT CORPORATION 4B FUND
12/31/2011
3/12 Months (25% of Fiscal Year)
Economic Development Corporation 4B Page 13 of 19 Monday, February 13, 2012
ECONOMIC DEVELOPMENT CORPORATION 4B FUND
December 2011
3/12 Months (25% of Fiscal Year)
REVENUES
Sales Tax – For the current fiscal year, a change was made in how sales tax
revenue will be reported for monthly financials. Revenue will be shown in the
month it was received. Therefore, revenue shown in the December, 2011
financials reflect collections received in December. In order to comply with the
Government Accounting Standards Board requirement that sales tax be reported
for the month it is collected by the vendor, a journal entry in the financial system
will be performed at year-end to “true-up” reporting for the year.
The chart below shows the sales tax revenues associated with October,
November, and December 2011 sales as of February 8, 2012. Cumulative sales
tax revenues are currently 23% higher than collections at this time last year and
7.9% higher than our budgeted amount.
0
2,000
4,000
6,000
8,000
10,000
12,000
14,000
16,000
18,000
October November December
Sales Tax Revenue Comparison -EDC 4B 2011-12
PY Actual
CY Actual
CY Budget
Economic Development Corporation 4B Page 14 of 19 Monday, February 13, 2012
EXPENDITURES
Office Supplies – Jump Drives with Trophy Club development information for
ICSC and other economic development meetings.
Travel & Per Diem/Schools & Training – ICSC conference related expense.
Conference was held in San Antonio.
Transfer to General Fund – Monthly administrative fee related to increased
economic development related meetings and contacts.
Economic Development Corporation 4B Page 15 of 19 Monday, February 13, 2012
100 Municipal Drive
Trophy Club, Texas 76262Trophy Club Entities
Legislation Details (With Text)
File #: Version:12012-40-T Name:
Status:Type:Agenda Item Regular Session
File created:In control:2/10/2012 Economic Development Corporation 4B (EDC 4B)
On agenda:Final action:2/13/2012
Title:Assistant Town Manager Update:
- PD-30
- Strategic Planning
- Regency
- Trophy Wood
- Commons
- Developer Luncheon
- Logo/Website
Attachments:
Action ByDate Action ResultVer.
Title
Assistant Town Manager Update:
- PD-30
- Regency
- Trophy Wood
- Commons
Economic Development Corporation 4B Page 16 of 19 Monday, February 13, 2012
100 Municipal Drive
Trophy Club, Texas 76262Trophy Club Entities
Legislation Details (With Text)
File #: Version:12012-41-T Name:
Status:Type:Agenda Item Regular Session
File created:In control:2/10/2012 Economic Development Corporation 4B (EDC 4B)
On agenda:Final action:2/13/2012
Title:Future Agenda Items.
Attachments:EDC 4B Future Agenda Items.pdf
Action ByDate Action ResultVer.
Title
Future Agenda Items.
Economic Development Corporation 4B Page 17 of 19 Monday, February 13, 2012
Last Updated: June 11, 2010
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
8. How can EDC 4B participate within scope of authority for Homecoming activities.
9. Clock tower future and how to incorporate the symbol into marketing materials.
10. Trophy Club EDC 4B sponsor Wounded Warrior event. Is there an opportunity to make
Trophy Club a Wounded Warrior Community?
Economic Development Corporation 4B Page 18 of 19 Monday, February 13, 2012
100 Municipal Drive
Trophy Club, Texas 76262Trophy Club Entities
Legislation Details (With Text)
File #: Version:12012-42-T Name:
Status:Type:Agenda Item Regular Session
File created:In control:2/10/2012 Economic Development Corporation 4B (EDC 4B)
On agenda:Final action:2/13/2012
Title:Next meeting date: March 12, 2012.
Attachments:
Action ByDate Action ResultVer.
Title
Next meeting date: March 12, 2012.
Economic Development Corporation 4B Page 19 of 19 Monday, February 13, 2012