Agenda Packet EDC 4B 04/15/2013Economic Development Corporation 4B
(EDC 4B)
Trophy Club Entities
Meeting Agenda
100 Municipal Drive
Trophy Club, Texas 76262
Svore Municipal Building Boardroom7:00 PMMonday, April 15, 2013
CALL TO ORDER AND ANNOUNCE A QUORUM
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
1.2013-226-T Discuss and take appropriate action regarding a recommendation to
Council to adopt a logo.
2.2013-233-T Discuss and take appropriate action regarding Economic Development
Strategic Planning.
3.2013-228-T Discuss and take appropriate actions regarding the March 11, 2013
Minutes.
003 March 11 2013 Minutes.pdfAttachments:
4.2013-227-T Discuss and take appropriate action regarding the February 2013 and
March 2013 Financials.
February 2013 Financials.pdf
March 2013 4B Financials.pdf
Attachments:
5.2013-231-T Assistant Town Manager Update:
- Alliance Development Forum
- 2013 Texas ICSC Conference
- Shops at Trophy Club
- Trophy Wood
- Village Center
- The Plaza
- The Commons
6.2013-226 Next meeting scheduled for May 13, 2013.
Economic Development Corporation 4B 1 of 18 Monday, April 15, 2013
April 15, 2013Economic Development
Corporation 4B (EDC 4B)
Meeting Agenda
*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.
7.2013-229-T Pursuant to Texas Government Code, Annotated, Subchapter 551, EDC 4B will
convene into closed executive session as authorized by:
Section 551.087 Deliberation Regarding Economic Development Negotiations
to discuss or deliberate the offer of financial or other incentives to a business
prospect that the Town seeks to have locate within the territory of the Town.
8.2013-230-T Reconvene in Regular Session and take any action as necessary as a
result of the Closed Session.
ADJOURN
Notice is hereby given that a quorum of the Town Council may be in attendance at
this meeting.
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, April 12, 2013 by 5:00
P.M. in accordance with Chapter 551, Texas Government Code.
------------------------------------------------------
April Reiling
Public Information Officer & 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
______________________, 2013.
________________________________, Title: ___________________________
Economic Development Corporation 4B 2 of 18 Monday, April 15, 2013
100 Municipal Drive
Trophy Club, Texas 76262Trophy Club Entities
Legislation Details (With Text)
File #: Version:12013-226-T Name:
Status:Type:Agenda Item Regular Session
File created:In control:4/12/2013 Economic Development Corporation 4B (EDC 4B)
On agenda:Final action:4/15/2013
Title:Discuss and take appropriate action regarding a recommendation to Council to adopt a logo.
Attachments:
Action ByDate Action ResultVer.
Title
Discuss and take appropriate action regarding a recommendation to Council to adopt a logo.
Economic Development Corporation 4B 3 of 18 Monday, April 15, 2013
100 Municipal Drive
Trophy Club, Texas 76262Trophy Club Entities
Legislation Details (With Text)
File #: Version:12013-233-T Name:
Status:Type:Agenda Item Regular Session
File created:In control:4/12/2013 Economic Development Corporation 4B (EDC 4B)
On agenda:Final action:4/15/2013
Title:Discuss and take appropriate action regarding Economic Development Strategic Planning.
Attachments:
Action ByDate Action ResultVer.
Title
Discuss and take appropriate action regarding Economic Development Strategic Planning.
Economic Development Corporation 4B 4 of 18 Monday, April 15, 2013
100 Municipal Drive
Trophy Club, Texas 76262Trophy Club Entities
Legislation Details (With Text)
File #: Version:12013-228-T Name:
Status:Type:Agenda Item Regular Session
File created:In control:4/12/2013 Economic Development Corporation 4B (EDC 4B)
On agenda:Final action:4/15/2013
Title:Discuss and take appropriate actions regarding the March 11, 2013 Minutes.
Attachments:003 March 11 2013 Minutes.pdf
Action ByDate Action ResultVer.
Title
Discuss and take appropriate actions regarding the March 11, 2013 Minutes.
Economic Development Corporation 4B 5 of 18 Monday, April 15, 2013
MINUTES OF REGULAR SESSION FOR THE
ECONOMIC DEVELOPMENT CORPORATION 4B BOARD
LOCATION: 100 MUNICIPAL DRIVE, TROPHY CLUB, TEXAS
Monday, March 11, 2013
7:00 PM
STATE OF TEXAS
COUNTY OF DENTON
The Economic Development Corporation 4B of the Town of Trophy Club, Texas, met in Regular
Session on March 11, 2013. The meeting was held within the boundaries of the Town and was
open to the public.
EDC 4B DIRECTORS PRESENT:
James Hicks President
Rebecca Shuman Vice President (arrived at 7:27 p.m.)
Sean Weaver Director
Larry Mundy Director
Dave Brod Director
STAFF AND GUEST(S) PRESENT:
Stephen Seidel Assistant Town Manager
April Reiling Public Information Officer/Marketing Manager
Glenn Strother Council Member
Call to order and announce a quorum.
President Hicks, noting a quorum of EDC 4B, called the regular session to order at 7:06 p.m.
REGULAR SESSION
1. Discuss and take appropriate action regarding approving a contract with
Catalyst Commercial.
Assistant Town Manager Stephen Seidel provided an overview of the recent discussions
regarding the Catalyst Commercial Contract, merchandising update and compensation.
Assistant Town Manager Seidel informed the board that the audio from the last meeting is
unclear regarding the performance based fees and staff is looking for a confirmed direction from
the board. The contract was reviewed again and directors asked Assistant Town Manager
Seidel clarifying questions.
Director Dave Brod made a motion to approve the professional services agreement for retail
recruitment from Catalyst Commercial with the attached outlined edits made to Section 2. Fees
– second paragraph, by Director Larry Mundy. The change in the second paragraph is as
follows: “Additionally, EDC-4B agrees to pay Consultant a one-time fee (“Performance Fee”) of
10% of an implied yearly sales tax for retailers identified by Consultant and committing to locate
in the Town of Trophy Club during the Term.” The motion with changes was seconded by
Director Larry Mundy. The motion passed unanimously.
2. Update regarding the Alliance Development Forum (ADF) event.
Economic Development Corporation 4B 6 of 18 Monday, April 15, 2013
Assistant Town Manager Seidel provided an update regarding the Alliance Development Forum
event coming up on April 5, 2013 from 11:00 a.m. to 1:00 p.m. The invitations have been sent
out and thus far response has been positive and RSVP’s are coming in steadily.
3. Update regarding Town website and logo.
Public Information Officer April Reiling and Assistant Town Manager Seidel provided an update
regarding the website and logo. The board received a sneak peak of the website and indicated
that they want an action item regarding the logo on next month’s agenda.
4. Update regarding the 2013 Texas ICSC Conference.
Assistant Town Manager Seidel provided an ISCS Conference update and indicated that
planning for another six-city, Northwest Metroport Corridor (Trophy Club, Westlake, Roanoke,
Haslet, Justin & Northlake) booth is currently underway.
5. Discuss and take appropriate action regarding the January 14, 2013
Minutes.
Director Rebecca Shuman moved to approve the January 14, 2013 Minutes. Director Sean
Weaver seconded. The motion passed unanimously.
6. Discuss and take appropriate action regarding the December 2012 and
January 2013 Financials.
Assistant Town Manager Seidel explained the financials and answered questions from the
Board. Director Rebecca Shuman moved to approve the October 2012 and November 2012
financials. Director Dave Brod seconded. The motion passed unanimously.
7. Assistant Town Manager Update:
- Shops at Trophy Club
- Trophy Wood
- Village Center
- The Plaza
- The Commons
Assistant Town Manager Seidel provided the Board updates and answered questions related to
economic development activities at various locations.
8. Next meeting scheduled for April 15, 2013.
Adjourn
Director Larry Mundy moved to adjourn at 8:58 p.m. Director Dave Brod seconded. The motion
passed unanimously.
______________________________ _______________________________
James Hicks, President Dean Murray, Treasurer/Secretary
Economic Development Corporation 4B 7 of 18 Monday, April 15, 2013
100 Municipal Drive
Trophy Club, Texas 76262Trophy Club Entities
Legislation Details (With Text)
File #: Version:12013-227-T Name:
Status:Type:Agenda Item Regular Session
File created:In control:4/12/2013 Economic Development Corporation 4B (EDC 4B)
On agenda:Final action:4/15/2013
Title:Discuss and take appropriate action regarding the February 2013 and March 2013 Financials.
Attachments:February 2013 Financials.pdf
March 2013 4B Financials.pdf
Action ByDate Action ResultVer.
Title
Discuss and take appropriate action regarding the February 2013 and March 2013 Financials.
Economic Development Corporation 4B 8 of 18 Monday, April 15, 2013
4/12/2013 2:13:18 PM Page 1 of 3
My Budget Report
Town of Trophy Club, TX Account Summary
For Fiscal: 2012-2013 Period Ending: 02/28/2013
Fiscal
Activity
Variance
Favorable
(Unfavorable)
Percent
Remaining
Current
Total Budget
Period
Activity
Original
Total Budget
Fund: 15 - ECONOMIC DEVELOPMENT CORPORATION 4B
Revenue
Category: 40 - Taxes
Sales Tax - General 156,523.00 63,170.70 -93,352.30 -59.64%15,280.0015-000-40300 156,523.00
Total Category: 40 - Taxes:63,170.7015,280.00156,523.00 156,523.00 -93,352.30 -59.64 %
Category: 42 - Intergovernmental
Prior Year Reserves 40,000.00 0.00 -40,000.00 -100.00%0.0015-000-42014 40,000.00
Total Category: 42 - Intergovernmental:0.000.0040,000.00 40,000.00 -40,000.00 -100.00 %
Category: 47 - Investment Income
Interest Income 100.00 0.00 -100.00 -100.00%0.0015-000-47000 100.00
Total Category: 47 - Investment Income:0.000.00100.00 100.00 -100.00 -100.00 %
Total Revenue:63,170.7015,280.00196,623.00 196,623.00 -133,452.30 -67.87 %
Expense
Category: 60 - Purchased Services
Auditing 3,500.00 0.00 3,500.00 100.00%0.0015-951-60200 3,500.00
Elections 9,000.00 6,116.09 2,883.91 32.04%0.0015-951-62100 9,000.00
Advertising 6,500.00 1,450.00 5,050.00 77.69%0.0015-951-63200 6,500.00
Printing 5,000.00 0.00 5,000.00 100.00%0.0015-951-63250 5,000.00
Schools & Training 3,670.00 1,955.00 1,715.00 46.73%65.0015-951-63551 3,670.00
Dues & Membership 600.00 250.00 350.00 58.33%0.0015-951-68100 600.00
Travel & per diem 4,040.00 12.00 4,028.00 99.70%0.0015-951-68200 4,040.00
Total Category: 60 - Purchased Services:9,783.0965.0032,310.00 32,310.00 22,526.91 69.72 %
Category: 70 - Supplies
Office Supplies 2,000.00 7.50 1,992.50 99.63%0.0015-951-70100 2,000.00
Miscellaneous Expense 20,341.00 8,361.92 11,979.08 58.89%0.0015-951-79999 20,341.00
Total Category: 70 - Supplies:8,369.420.0022,341.00 22,341.00 13,971.58 62.54 %
Category: 80 - Capital
EDC Projects 63,193.00 10,658.90 52,534.10 83.13%7,445.3115-951-87150 63,193.00
Total Category: 80 - Capital:10,658.907,445.3163,193.00 63,193.00 52,534.10 83.13 %
Category: 99 - Other Financing Uses
Transfer to General Fund 51,996.00 19,725.64 32,270.36 62.06%0.0015-951-99100 51,996.00
Transfer to Debt Service 26,783.00 234,533.42 -207,750.42 -775.68%0.0015-951-99400 26,783.00
Total Category: 99 - Other Financing Uses:254,259.060.0078,779.00 78,779.00 -175,480.06 -222.75 %
Total Expense:283,070.477,510.31196,623.00 196,623.00 -86,447.47 -43.97 %
Total Fund: 15 - ECONOMIC DEVELOPMENT CORPORATION 4B:-219,899.777,769.690.00 0.00 -219,899.77
Report Total:7,769.69 -219,899.770.00 0.00 -219,899.77
Economic Development Corporation 4B 9 of 18 Monday, April 15, 2013
My Budget Report For Fiscal: 2012-2013 Period Ending: 02/28/2013
4/12/2013 2:13:18 PM Page 2 of 3
Group Summary
Fiscal
Activity
Variance
Favorable
(Unfavorable)
Period
ActivityCategory
Current
Total Budget
Original
Total Budget
Percent
Remaining
Fund: 15 - ECONOMIC DEVELOPMENT CORPORATION 4B
Revenue
40 - Taxes 63,170.7015,280.00156,523.00 156,523.00 -93,352.30 -59.64 %
42 - Intergovernmental 0.000.0040,000.00 40,000.00 -40,000.00 -100.00 %
47 - Investment Income 0.000.00100.00 100.00 -100.00 -100.00 %
63,170.7015,280.00196,623.00 196,623.00 -133,452.30Total Revenue:-67.87 %
Expense
60 - Purchased Services 9,783.0965.0032,310.00 32,310.00 22,526.91 69.72 %
70 - Supplies 8,369.420.0022,341.00 22,341.00 13,971.58 62.54 %
80 - Capital 10,658.907,445.3163,193.00 63,193.00 52,534.10 83.13 %
99 - Other Financing Uses 254,259.060.0078,779.00 78,779.00 -175,480.06 -222.75 %
283,070.477,510.31196,623.00 196,623.00 -86,447.47Total Expense:-43.97 %
-219,899.777,769.690.00 0.00 -219,899.77Total Fund: 15 - ECONOMIC DEVELOPMENT CORPORATION 4B:
Report Total:7,769.69 -219,899.770.00 0.00 -219,899.77
Economic Development Corporation 4B 10 of 18 Monday, April 15, 2013
My Budget Report For Fiscal: 2012-2013 Period Ending: 02/28/2013
4/12/2013 2:13:18 PM Page 3 of 3
Fund Summary
Fiscal
Activity
Variance
Favorable
(Unfavorable)Fund
Period
Activity
Current
Total Budget
Original
Total Budget
Percent
Remaining
15 - ECONOMIC DEVELOPMENT CORPORATION 4B -219,899.777,769.690.00 0.00 -219,899.77
Report Total:7,769.69 -219,899.770.00 0.00 -219,899.77
Economic Development Corporation 4B 11 of 18 Monday, April 15, 2013
ECONOMIC DEVELOPMENT CORPORATION 4B FUND
February 2013 5/12 Months (42% of Fiscal Year)
REVENUES
Sales Tax – As shown below, the Town’s total current year to date sales tax collections exceed
the prior year to date sales tax collections by $12,039 (2.44%).
Year to Date Sales Tax Collections
Increase (Decrease) FY 2012 FY 2013
Total $ 493,326 $ 505,365 $ 12,039
Below is a chart comparing sales tax collections for the prior and current years by month. The
amounts illustrated represent total sales tax collections which include portions for the general fund
(50%), EDC 4A (25%) and 4B (12.5%), and the street maintenance fund (12.5%). (Additional
Note: February collections are for December sales.)
EXPENDITURES
EDC Projects: Website Development
$-
$20,000.00
$40,000.00
$60,000.00
$80,000.00
$100,000.00
$120,000.00
$140,000.00
Oc
t
No
v
De
c
Ja
n
Fe
b
Ma
r
Ap
r
Ma
y
Ju
n
Ju
l
Au
g
Se
p
Sales Tax Collections
FY 2012
FY 2013
Economic Development Corporation 4B 12 of 18 Monday, April 15, 2013
My Budget Report For Fiscal: 2012-2013 Period Ending: 03/31/2013
4/4/2013 3:33:49 PM Page 2 of 3
Group Summary
Fiscal
Activity
Variance
Favorable
(Unfavorable)
Period
ActivityCategory
Current
Total Budget
Original
Total Budget
Percent
Remaining
Fund: 15 - ECONOMIC DEVELOPMENT CORPORATION 4B
Revenue
40 - Taxes 74,615.2811,444.58156,523.00 156,523.00 -81,907.72 -52.33 %
42 - Intergovernmental 0.000.0040,000.00 40,000.00 -40,000.00 -100.00 %
47 - Investment Income 0.000.00100.00 100.00 -100.00 -100.00 %
74,615.2811,444.58196,623.00 196,623.00 -122,007.72Total Revenue:-62.05 %
Expense
60 - Purchased Services 9,783.090.0032,310.00 32,310.00 22,526.91 69.72 %
70 - Supplies 10,965.852,596.4322,341.00 22,341.00 11,375.15 50.92 %
80 - Capital 3,213.590.0063,193.00 63,193.00 59,979.41 94.91 %
99 - Other Financing Uses 19,725.640.0078,779.00 78,779.00 59,053.36 74.96 %
43,688.172,596.43196,623.00 196,623.00 152,934.83Total Expense:77.78 %
30,927.118,848.150.00 0.00 30,927.11Total Fund: 15 - ECONOMIC DEVELOPMENT CORPORATION 4B:
Report Total:8,848.15 30,927.110.00 0.00 30,927.11
Economic Development Corporation 4B 13 of 18 Monday, April 15, 2013
ECONOMIC DEVELOPMENT CORPORATION 4B FUND
March 2013 6/12 Months (50% of Fiscal Year)
REVENUES
Sales Tax – As shown below, the Town’s total current year to date sales tax collections exceed
the prior year to date sales tax collections by $19,764 (3.42%).
Year to Date Sales Tax Collections
Increase (Decrease) FY 2012 FY 2013
Total $ 577,158 $ 596,922 $ 19,764
Below is a chart comparing sales tax collections for the prior and current years by month. The
amounts illustrated represent total sales tax collections which include portions for the general fund
(50%), EDC 4A (25%) and 4B (12.5%), and the street maintenance fund (12.5%). (Additional
Note: March collections are for January sales.)
EXPENDITURES
Miscellaneous Expenses: Funding for Alliance Development Forum
$-
$20,000.00
$40,000.00
$60,000.00
$80,000.00
$100,000.00
$120,000.00
$140,000.00 Sales Tax Collections
FY 2012
FY 2013
Economic Development Corporation 4B 14 of 18 Monday, April 15, 2013
100 Municipal Drive
Trophy Club, Texas 76262Trophy Club Entities
Legislation Details (With Text)
File #: Version:12013-231-T Name:
Status:Type:Agenda Item Regular Session
File created:In control:4/12/2013 Economic Development Corporation 4B (EDC 4B)
On agenda:Final action:4/15/2013
Title:Assistant Town Manager Update:
- Alliance Development Forum
- 2013 Texas ICSC Conference
- Shops at Trophy Club
- Trophy Wood
- Village Center
- The Plaza
- The Commons
Attachments:
Action ByDate Action ResultVer.
Title
Assistant Town Manager Update:
- Alliance Development Forum
- 2013 Texas ICSC Conference
- Shops at Trophy Club
- Trophy Wood
- Village Center
- The Plaza
- The Commons
Economic Development Corporation 4B 15 of 18 Monday, April 15, 2013
100 Municipal Drive
Trophy Club, Texas 76262Trophy Club Entities
Legislation Details (With Text)
File #: Version:12013-226 Name:
Status:Type:Agenda Item Regular Session
File created:In control:4/12/2013 Economic Development Corporation 4B (EDC 4B)
On agenda:Final action:4/15/2013
Title:Next meeting scheduled for May 13, 2013.
Attachments:
Action ByDate Action ResultVer.
Title
Next meeting scheduled for May 13, 2013.
Economic Development Corporation 4B 16 of 18 Monday, April 15, 2013
100 Municipal Drive
Trophy Club, Texas 76262Trophy Club Entities
Legislation Details (With Text)
File #: Version:12013-229-T Name:
Status:Type:Agenda Item Regular Session
File created:In control:4/12/2013 Economic Development Corporation 4B (EDC 4B)
On agenda:Final action:4/15/2013
Title:Pursuant to Texas Government Code, Annotated, Subchapter 551, EDC 4B will convene into closed
executive session as authorized by:
Section 551.087 Deliberation Regarding Economic Development Negotiations to discuss or deliberate
the offer of financial or other incentives to a business prospect that the Town seeks to have locate
within the territory of the Town.
Attachments:
Action ByDate Action ResultVer.
Title
Pursuant to Texas Government Code, Annotated, Subchapter 551, EDC 4B will convene into closed executive
session as authorized by:
Section 551.087 Deliberation Regarding Economic Development Negotiations to discuss or deliberate the
offer of financial or other incentives to a business prospect that the Town seeks to have locate within the
territory of the Town.
Economic Development Corporation 4B 17 of 18 Monday, April 15, 2013
100 Municipal Drive
Trophy Club, Texas 76262Trophy Club Entities
Legislation Details (With Text)
File #: Version:12013-230-T Name:
Status:Type:Agenda Item Regular Session
File created:In control:4/12/2013 Economic Development Corporation 4B (EDC 4B)
On agenda:Final action:4/15/2013
Title:Reconvene in Regular Session and take any action as necessary as a result of the Closed Session.
Attachments:
Action ByDate Action ResultVer.
Title
Reconvene in Regular Session and take any action as necessary as a result of the Closed Session.
Economic Development Corporation 4B 18 of 18 Monday, April 15, 2013