Agenda Packet EDC 4B 01/14/2013Economic Development Corporation 4B
(EDC 4B)
Trophy Club Entities
Meeting Agenda
100 Municipal Drive
Trophy Club, Texas 76262
Public Services Conference Room7:00 PMMonday, January 14, 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
1.2013-17-T Discuss and take appropriate action regarding the ILA with Town Council to
restructure debt.
Town Council and EDC 4B ILAAttachments:
2.2013-18-T Discuss and take appropriate action regarding a budget amendment not to
exceed $207,750 as a result of costs associated with retirement of the
2002-A General Obligation Bonds.
EDC 4B Budget Amendment - Calling 2002-A GO BondsAttachments:
3.2013-19-T Discuss and take appropriate action regarding engaging Catalyst
Commercial to update Trophy Club's Merchandising Plan and Retail
Recruitment.
Catalyst Commercial Proposed Contract - 2013Attachments:
4.2013-20-T Logo and website development update.
5.2013-21-T Discuss and take appropriate action regarding the October 22, 2012 and
November 19, 2012 Minutes.
010 October 22 2012 Minutes
011 November 19 2012 Minutes
Attachments:
6.2013-22-T Discuss and take appropriate action regarding the October 2012 and
November 2012 Financials.
October 2012 EDC 4B Financials
November 2012 EDC 4B Financials
Attachments:
Economic Development Corporation 4B 1 of 34 Monday, January 14, 2013
January 14, 2013Economic Development
Corporation 4B (EDC 4B)
Meeting Agenda
7.2013-23-T Assistant Town Manager Update:
- Trophy Wood
- Village Center
- Plaza
- Commons
8.2013-24-T Next meeting scheduled for February 11, 2013.
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.
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 January 11, 2013 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
______________________, 2013.
________________________________, Title: ___________________________
Economic Development Corporation 4B 2 of 34 Monday, January 14, 2013
100 Municipal Drive
Trophy Club, Texas 76262Trophy Club Entities
Legislation Details (With Text)
File #: Version:12013-17-T Name:
Status:Type:Agenda Item Regular Session
File created:In control:1/11/2013 Economic Development Corporation 4B (EDC 4B)
On agenda:Final action:1/14/2013
Title:Discuss and take appropriate action regarding the ILA with Town Council to restructure debt.
Attachments:Town Council and EDC 4B ILA
Action ByDate Action ResultVer.
Title
Discuss and take appropriate action regarding the ILA with Town Council to restructure debt.
Economic Development Corporation 4B 3 of 34 Monday, January 14, 2013
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100 Municipal Drive
Trophy Club, Texas 76262Trophy Club Entities
Legislation Details (With Text)
File #: Version:12013-18-T Name:
Status:Type:Agenda Item Regular Session
File created:In control:1/11/2013 Economic Development Corporation 4B (EDC 4B)
On agenda:Final action:1/14/2013
Title:Discuss and take appropriate action regarding a budget amendment not to exceed $207,750 as a
result of costs associated with retirement of the 2002-A General Obligation Bonds.
Attachments:EDC 4B Budget Amendment - Calling 2002-A GO Bonds
Action ByDate Action ResultVer.
Title
Discuss and take appropriate action regarding a budget amendment not to exceed $207,750 as a result
of costs associated with retirement of the 2002-A General Obligation Bonds.
Economic Development Corporation 4B 11 of 34 Monday, January 14, 2013
Calling 2002-A GO Bonds
Total Principal Amount to be paid: 880,000.00$
EDC 4A portion (to be paid by General Fund & repaid by EDC 4B - see ILA): 660,000.00$
EDC 4B portion:220,000.00$
Interest Amount: 14,533.42$
Total Amount required from EDC 4B: 234,533.42$
Budget Amendment Details
The Fiscal Year 2013 EDC 4B Expenditure Budget increase specified below is a result of costs
associated with the retirement of the 2002-A General Obligation bonds and will be funded from an
appropriation from the EDC 4B's unassigned fund balance.
Prior Year Reserves 40,000$ 207,750$ 247,750$
Intergovernmental Transfer Out (I&S) 26,783$ 207,750$ 234,533$
Original Budget Amendment Amended Budget
Economic Development Corporation 4B 12 of 34 Monday, January 14, 2013
100 Municipal Drive
Trophy Club, Texas 76262Trophy Club Entities
Legislation Details (With Text)
File #: Version:12013-19-T Name:
Status:Type:Agenda Item Regular Session
File created:In control:1/11/2013 Economic Development Corporation 4B (EDC 4B)
On agenda:Final action:1/14/2013
Title:Discuss and take appropriate action regarding engaging Catalyst Commercial to update Trophy Club's
Merchandising Plan and Retail Recruitment.
Attachments:Catalyst Commercial Proposed Contract - 2013
Action ByDate Action ResultVer.
Title
Discuss and take appropriate action regarding engaging Catalyst Commercial to update Trophy Club's
Merchandising Plan and Retail Recruitment.
Economic Development Corporation 4B 13 of 34 Monday, January 14, 2013
PROFESSIONAL SERVICES AGREEMENT for
UPDATE TO MERCHANDISING PLAN
and
RETAIL RECRUITMENT
This Professional Services Agreement for Update to Merchandising Plan and Retail Recruitment
("Agreement") is entered between Trophy Club Economic Development Corporation 4B ("EDC-
4B") and Catalyst Commercial, Inc. ("Consultant" or "Catalyst")(individually a "Party" and
collectively the "Parties") to be effective as of _____________________, 2012.
RECITIALS
Whereas, Catalyst previously prepared a Commercial Redevelopment Strategy and Retail
Recruitment for EDC-4B, with a final report being delivered to EDC-4B by Catalyst in December
2009 ("2009 Report"); and
Whereas, the 2009 Report assisted in creating awareness of Trophy Club and interest from
retail operators, there remain parcels to be developed in Trophy Club while continuing to work to
identify Trophy Club in the market as a primary retail destination; and
Whereas, Trophy Club contains many visible land parcels which offer opportunities for private
development that are vacant; and
Whereas, Trophy Club EDC-4B desires to continue the trend of regional operators recognizing
Trophy Club as a potential opportunity.
Now therefore, based on the terms and conditions set forth below and other valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, the Parties agree
as follows:
TERMS and OBLIGATIONS
SECTION 1. CONSULTANT'S PROJECT OBLIGATIONS
Consultant shall perform all work reasonably necessary to complete the "Project", which
includes each of the following:
1. Kick-off meeting
2.
: Consultant shall conduct a kick off meeting to update the EDC-4B
Board of Directors on results and statistics from the initial engagement of Catalyst
Commercial. Additionally, the purpose of the meeting will include reviewing the plan of
action going forward and provide stakeholder input prior to commencement of
subsequent phases. The focus of the Project will be on Trophy Club, Texas commercial
properties; and
Additional Research/Updates
a. Inventory of properties and retailers:
:
i. In collaboration with EDC-4B staff, Catalyst shall update and bring current
the inventory of major commercial properties in Trophy Club and shall
include current use(s), occupancy status, availability for sale or lease,
owner information (and listing broker, if applicable), property condition,
square footage and other applicable information pertinent for marketing
Trophy Club properties; and
Economic Development Corporation 4B 14 of 34 Monday, January 14, 2013
ii. Update the previously targeted list from December 2009 of national,
regional and local retailers.
b. Update demographics for the Primary Trade Area (PTA); and
c. Create or update data needed to establish a market profile; and conduct a
demand analysis to determine potential for additional retail; and
3. Recruitment
a. In collaboration with EDC-4B staff, update the strategy for attracting appropriate
retail to Trophy Club;
:
b. Update the marketing and leasing plan to implement the retail strategy;
c. Create targeted retail marketing materials for retailers which fits the retail profile
of Trophy Club;
d. Identify locations and site preferences for national and chain retail stores;
e. Assess current property and retail space "readiness" to attract retailers; and as
needed, make recommendations to the EDC-4B and property owners on
changes necessary to maximize retail opportunities;
f. Assist EDC-4B staff with retail contacts and negotiations with property
owners/retail prospects;
g. Catalyst shall continue retail recruitment and negotiations to include updates and
reports to the EDC-4B staff; and
4. Meetings
5.
: Assist EDC-4B with appointments, meetings and collateral at ICSC ReCon
2013 in Las Vegas and ICSC Texas Deal Making 2013; and
Reporting
6.
: During the term of this Agreement, Consultant shall provide written reports,
at a minimum of monthly intervals, to EDC-4B staff detailing the status and delivery of
the services defined in this agreement.
Sub-consultants and Third Party Vendors
7.
: Upon written approval of EDC-4B, Consultant
may enlist the efforts of Consultant's associates, and all Consultant associates shall
devote an amount of time and effort on behalf of EDC-4B as Consultant, in sole
discretion of Consultant, determines necessary to carry out the duties described in this
Agreement. Consultant and Consultant's employees, agents, affiliates, and associates
are entitled to engage in other business activities including, but not limited to,
representing other principals, listing properties for sale or lease, and presenting the
same properties to other prospects.
Time of Completion
8.
: A project schedule, shown in Attachment "A" is hereby fully
included in this Professional Services Agreement by reference. The Consultant agrees
to perform the services in accordance with the schedule.
Term and Termination
: This Agreement shall have a term of twelve (12) months
("Term"). This Agreement shall terminate at the end of the Term unless the Parties
agree in writing to an extension. Either Party may terminate this Agreement prior to the
end of the Term for convenience by providing thirty (30) days written notice to the other
Party. All Project work and papers shall be provided by Consultant to EDC-4B at
termination. If terminated early, the monthly fee payments to be paid by EDC-4B, from
and after the first day of the month following such termination, shall also terminate;
however, EDC-4B shall remain obligated to pay all sums owing through the date of
termination.
Economic Development Corporation 4B 15 of 34 Monday, January 14, 2013
SECTION 2. FEES
Fee Schedule
1. Kick-off meeting $ 0.00 (no charge)
: Consultant shall complete the Project based upon the fee schedule below:
2. Additional Research/Updates $ 2,500.00
3. Recruitment
Total Project: $ 8,500.00
$ 6,000.00 initial 6 mos.
EDC-4B agrees to pay the $2,500 fee for "Additional Research/Updates" within thirty (30) days
of execution of this Agreement. EDC-4B shall also pay the remaining $6,000.00 owed at a rate
of $1,500.00 per month during the Term of this Agreement. EDC-4B agrees to pay for any
actual out of pocket hard costs associated with the project such as travel costs and outside
vendors, a $1,000 monthly fee for the final six (6) months of the engagement.
Additionally, EDC-4B agrees to pay Consultant a one (1) time fee for performance equal to 10%
sales tax collected by Trophy Club, Texas (“Performance Fee”) for Consultant identifying and
successfully recruiting retailers to the Town of Trophy Club. The performance fee payment shall
be calculated based upon an estimated $300 sales per square foot multiplied times the gross
square footage of each occupant/tenant as the estimated annual sales for the basis of
calculating value. The one time performance fee payment shall be due 30 days from the initial
date the tenant/occupant opens for business.
Example (3,000 SF retailer):
Square Feet Sales/SF Store Revenue
Revenue to City
(at 2% sales tax)
Paid to Catalyst in Year 1
(10% of sales tax)
3,000 $300 $900,000 $18,000 $1,800
SECTION 3. MISCELLENEOUS PROVISIONS
Successors and Assigns
: The EDC-4B and Consultant each binds itself and its partners,
successors, executors, administrators and assigns to the other Party of this Agreement in
respect to all covenants of this Agreement. Neither the EDC-4B nor the Consultant shall assign,
sublet or transfer its obligations or interest in this Agreement without the written consent of the
other. Nothing herein shall be construed as giving any right or benefits hereunder to anyone
other than the EDC-4B and the Consultant.
Immunity
. Catalyst agrees that EDC-4B has not waived its sovereign immunity by entering into
and performing its obligations under this Agreement.
Non-Transferable
. Neither Party hereto shall transfer or assign any of its rights hereunder to a
third party.
Notices. Any notice provided or permitted to be given under this Agreement must be in writing
and may be served by depositing same in the United States mail, addressed to the Party to be
notified, postage pre-paid and registered or certified with return receipt requested, or by
Economic Development Corporation 4B 16 of 34 Monday, January 14, 2013
delivering the same in person to such Party via facsimile or a hand–delivery service, Federal
Express or any courier service that provides a return receipt showing the date of actual delivery
of same to the addressee thereof. Notice given in accordance herewith shall be effective upon
receipt at the address of the addressee. For purposes of notice, the addresses of the Parties
shall be as follows:
To EDC-4B:
Trophy Club Economic Development Corporation 4B
Attn: Stephen Seidel, Assistant Town Manager
100 Municipal Drive
Trophy Club, Texas 76262
To Catalyst:
CATALYST COMMERCIAL
Attn: Jason Claunch, President
4307 McKinney Avenue #13
Dallas, Texas 75205
Cumulative Remedies
. All rights and remedies of the Parties under this Agreement shall be
cumulative, and none shall exclude any other right or remedy provided by law, or by any other
provisions of the Agreement. All such rights and remedies may be exercised and enforced
concurrently and whenever, and as often, as occasion for their exercise arises.
Waiver of Breach
. A waiver by either Party of a breach of the Agreement by the other Party
does not constitute a continuing waiver or a waiver of any subsequent breach of the Agreement.
Parties Bound
. The Agreement shall be binding upon, and inure to the benefit of, the Parties to
the Agreement and their respective heirs, executors, administrators, legal representatives,
successors, and assigns when permitted by this Agreement.
No Third Party Beneficiaries
. Nothing in this Agreement shall be construed to create any right in
any third party not a signatory to this Agreement, and the Parties do not intend to create any
third party beneficiaries by entering into this Agreement.
Incorporation of Recitals
. The representations, covenants and recitations set forth in the
foregoing recitals of this Agreement are true and correct and are hereby incorporated into the
body of this Agreement and adopted as findings of the Parties.
Entire Agreement
. This Agreement contains the entire agreement of the Parties with respect to
the matters contained herein and may not be modified, amended or terminated except upon the
provisions hereof or by the mutual written agreement of the Parties hereto. The subject matter
of this Agreement is for market analysis, update and retail recruitment only and not any other
matters that may exist between the Parties past, present or future.
Venue
. This Agreement shall be construed in accordance with the laws of the State of Texas
and shall be performable in Denton County, Texas.
Consideration. This Agreement is executed by the Parties hereto without coercion or duress
and for substantial consideration, the sufficiency of which is forever confessed.
Economic Development Corporation 4B 17 of 34 Monday, January 14, 2013
Counterparts
. This Agreement may be executed in a number of identical counterparts, each of
which shall be deemed an original for all purposes. A facsimile signature will also be deemed to
constitute an original if properly executed.
Authority to Execute
. The individuals executing this Agreement on behalf of the respective
Parties below represent to each other and to others that all appropriate and necessary action
has been taken to authorize the individual who is executing this Agreement to do so for and on
behalf of the Party for which his or her signature appears, that there are no other parties or
entities required to execute this Agreement in order for the same to be an authorized and
binding agreement on the Party for whom the individual is signing this Agreement and that each
individual affixing his or her signature hereto is authorized to do so, and such authorization is
valid and effective on the date hereof.
Force Majeure
. Neither Catalyst nor EDC-4B shall be required to perform any term, condition,
or covenant in the Agreement so long as performance is delayed or prevented by force majeure,
which shall mean acts of God, strikes, lockouts, material or labor restrictions by any
governmental authority, civil riots, floods, and any other cause not reasonably within the control
of the Party and which by the exercise of due diligence the Party is unable, wholly or in part, to
prevent or overcome.
Miscellaneous Drafting Provisions
. This Agreement shall be deemed drafted equally by the
Parties hereto. The language of all parts of this Agreement shall be construed as a whole
according to its fair meaning, and any presumption or principle that the language herein is to be
construed against any party shall not apply. Headings in this Agreement are for the
convenience of the Parties and are not intended to be used in construing this document.
Savings/Severability
. In case any one or more of the provisions contained in this Agreement
shall for any reason be held to be invalid, illegal or unenforceable in any respect, such invalidity,
illegality or unenforceability shall not affect any other provision hereof, and this Agreement shall
be construed as if such invalid, illegal or unenforceable provision had never been contained
herein.
Representations
. Each signatory represents this Agreement has been read by the party for
which this Agreement is executed and that such party has had an opportunity to confer with its
legal counsel.
Term
. This Agreement shall terminate upon completion of the Project by Catalyst and payment
of all fees by EDC-4B.
By the signatures below, the parties to this Agreement hereby bind themselves to the terms
stated herein, including all attachments referred to herein.
TROPHY CLUB ECONOMIC CATALYST COMMERCIAL, INC
DEVELOPMENT CORPORATION 4B a Texas Corporation
By:_______________________________ By:______________________________
James Hicks, President Jason Claunch, President
Economic Development Corporation 4B 18 of 34 Monday, January 14, 2013
Date: ______________________________ Date: ____________________________
CATALYST COMMERCIAL
4307 McKinney Avenue #13
Dallas, Texas 75205
Economic Development Corporation 4B 19 of 34 Monday, January 14, 2013
Economic Development Corporation 4B 20 of 34 Monday, January 14, 2013
100 Municipal Drive
Trophy Club, Texas 76262Trophy Club Entities
Legislation Details (With Text)
File #: Version:12013-20-T Name:
Status:Type:Agenda Item Regular Session
File created:In control:1/11/2013 Economic Development Corporation 4B (EDC 4B)
On agenda:Final action:1/14/2013
Title:Logo and website development update.
Attachments:
Action ByDate Action ResultVer.
Title
Logo and website development update.
Economic Development Corporation 4B 21 of 34 Monday, January 14, 2013
100 Municipal Drive
Trophy Club, Texas 76262Trophy Club Entities
Legislation Details (With Text)
File #: Version:12013-21-T Name:
Status:Type:Agenda Item Regular Session
File created:In control:1/11/2013 Economic Development Corporation 4B (EDC 4B)
On agenda:Final action:1/14/2013
Title:Discuss and take appropriate action regarding the October 22, 2012 and November 19, 2012 Minutes.
Attachments:010 October 22 2012 Minutes
011 November 19 2012 Minutes
Action ByDate Action ResultVer.
Title
Discuss and take appropriate action regarding the October 22, 2012 and November 19, 2012 Minutes.
Economic Development Corporation 4B 22 of 34 Monday, January 14, 2013
MINUTES OF REGULAR SESSION FOR THE
ECONOMIC DEVELOPMENT CORPORATION 4B BOARD
LOCATION: 100 MUNICIPAL DRIVE, TROPHY CLUB, TEXAS
Monday, October 22, 2012
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 October 22, 2012. 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
Dean Murray, Secretary (arrived at 7:35 p.m.)
Sean Weaver, Director
Larry Mundy, Director
Randall Conn, Director
STAFF AND GUEST(S) PRESENT:
Stephen Seidel, Assistant Town Manager
April Reiling, PIO/Marketing Manager
Glenn Strother, Council Liaison
Bill Rose
Larry Hoover
Call to order and announce a quorum.
President James Hicks, noting a quorum, called the regular session to order at 7:12 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.
Agenda item skipped until Director Sean Weaver and Director Dean Murray arrive; move to Agenda
Item 2 and revisit.
President Jim Hicks opened the floor for the election of officers starting with the president. Director
Murray nominated Director Hicks and the motion was seconded by Director Conn. Motion passed
unanimously.
Director Conn nominated Director Shuman for Vice President. Motion passed unanimously.
Director Conn nominated Director Murray for Secretary/Treasurer. Motion passed unanimously.
2.Overview and discussion of the Interlocal Agreement (ILA) and debt restructure.
Economic Development Corporation 4B 23 of 34 Monday, January 14, 2013
Assistant Town Manager Seidel provided an overview regarding the November 2012 Special Election
Proposition 1. Assistant Town Manager Seidel explained the ILA agreement and budget amendment
that would be brought forward if Proposition 1 passes.
3.Discuss and take appropriate action regarding the SH 114 bridge painting proposal.
Assistant Town Manager Seidel provided an overview regarding the master plan for the beautification
of the SH 114/SH 170 corridor. Assistant Town Manager Seidel presented the bridge painting bid and
answered questions from the board. Director Rebecca Shuman made a motion to move forward with
EDC 4B assisting with funding 75% of the Trophy Club portion of the project, in an amount not to
exceed $50k of the total amount requested to paint the bridges and soundwall, with the understanding
the Town Council would fund the remainder. The motion was seconded by Director Conn. Motion
passed unanimously.
Citizen Speaker – Larry Hoover – Larry Hoover spoke in favor of the EDC 4B Board approving the
funds for the beautification project.
4. International Council of Shopping Centers (ICSC) and Alliance Development Forum (ADF)
update.
Assistant Town Manager Seidel provided an overview of the ICSC trade show and ADF booth.
5. Logo and website update.
Assistant Town Manager Seidel and PIO/Marketing Manager April Reiling provided an overview of the
logo and website and answered questions from the board.
6. EDC brochure and trade show banner update.
Assistant Town Manager Seidel provided an update regarding the EDC brochure and trade show
banner.
7. Assistant Town Manager Update:
- Trophy Wood
- Village Center
- Plaza
Assistant Town Manager Seidel provided an update and answered questions from the board.
8. Discuss and take appropriate action regarding the June 2012, July 2012 and August 2012
Financials.
Assistant Town Manager Seidel provided an overview of the June 2012, July 2012 and August 2012
Financials. Director Shuman made a motion to approve financials as presented. Director Mundy
seconded and the motion passed unanimously.
9. Discuss and take appropriate action regarding the July 2012 and August 2012 Minutes.
Director Mundy moved to approve by the July 2012 and August 2012 Minutes as presented. The
motion was seconded by Director Shuman. Motion passed unanimously.
10. Next meeting scheduled for November 12, 2012 at 7:00 p.m.
Economic Development Corporation 4B 24 of 34 Monday, January 14, 2013
Adjourn.
Adjourned at 8:45 p.m.
Director Weaver made a motion to adjourn. Director Shuman seconded. Motion passed unanimously.
_____________________________ ____________________________
James Hicks, President Dean Murray, Treasurer/Secretary
Economic Development Corporation 4B 25 of 34 Monday, January 14, 2013
MINUTES OF REGULAR SESSION FOR THE
ECONOMIC DEVELOPMENT CORPORATION 4B BOARD
LOCATION: 100 MUNICIPAL DRIVE, TROPHY CLUB, TEXAS
Monday, November 19, 2012
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 November 19, 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
Dave Brod, Director
Larry Mundy, Director
Randall Conn, Director - arrived at 7:47 p.m.
STAFF AND GUEST(S) PRESENT:
Stephen Seidel, Assistant Town Manager
April Reiling, PIO/Marketing Manager
Glenn Strother, Town Council Mayor Pro Tem
Bill Rose
Larry Hoover
Greg Lamont
Call to order and announce a quorum.
President James Hicks, noting a quorum, called the regular session to order at 7:05 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. Update and discussion regarding the ILA with Town Council to restructure debt.
Assistant Town Manager Seidel provided an overview of the November 2012 Special Election results
and explained the ILA process and debt restructure.
2. Discuss and take appropriate action regarding engaging Catalyst Commercial to update
Trophy Club's Merchandising Plan and Retail Recruitment.
Assistant Town Manager Seidel provided an overview regarding the Catalyst Commercial contract. The
board would like to discuss options with Catalyst Commercial regarding services and funding amounts.
The Board decided to table the agenda item until the next meeting to discuss further with Catalyst.
3. Update and discussion regarding the ICSC Texas Deal Making Conference 2012.
Assistant Town Manager Seidel and Board members provided an overview of the Alliance
Development Forum booth and Trophy Club presence at the 2012 ICSC conference.
Economic Development Corporation 4B 26 of 34 Monday, January 14, 2013
4. Logo and website development update.
Assistant Town Manager Seidel and PIO/Marketing Manager Reiling provided an overview of the logo
and website development status.
5. EDC brochure update.
Assistant Town Manager Seidel provided an overview and status of the EDC brochure development.
6. Discuss and take appropriate action regarding the September 2012 Financials.
Assistant Town Manager Seidel provided an overview of the September 2012 Financials. Director Larry
Mundy made a motion to approve financials as presented. Director Randall Conn seconded and the
motion passed unanimously.
7. Assistant Town Manager update:
- Trophy Wood
- Village Center
- Plaza
- Commons
- Bridge and soundwall beautification
Assistant Town Manager Seidel provided an update and answered questions from the board.
8. Next meeting scheduled for January 14, 2013.
Adjourn.
Director Dave Brod made a motion to adjourn. Director Larry Mundy seconded. Motion passed
unanimously.
Adjourned at 8:06 p.m.
_____________________________ ____________________________
James Hicks, President Dean Murray, Treasurer/Secretary
Economic Development Corporation 4B 27 of 34 Monday, January 14, 2013
100 Municipal Drive
Trophy Club, Texas 76262Trophy Club Entities
Legislation Details (With Text)
File #: Version:12013-22-T Name:
Status:Type:Agenda Item Regular Session
File created:In control:1/11/2013 Economic Development Corporation 4B (EDC 4B)
On agenda:Final action:1/14/2013
Title:Discuss and take appropriate action regarding the October 2012 and November 2012 Financials.
Attachments:October 2012 EDC 4B Financials
November 2012 EDC 4B Financials
Action ByDate Action ResultVer.
Title
Discuss and take appropriate action regarding the October 2012 and November 2012 Financials.
Economic Development Corporation 4B 28 of 34 Monday, January 14, 2013
1/11/2013 12:22:01 PM Page 1 of 3
My Budget Report
Town of Trophy Club, TX Account Summary
For Fiscal: 2012-2013 Period Ending: 10/31/2012
Fiscal
Activity
Variance
Favorable
(Unfavorable)
Percent
Remaining
Current
Total Budget
Period
Activity
Original
Total Budget
Fund: 15 - ECONOMIC DEVELOPMENT CORPORATION 4B
Revenue
Sales Tax - General 156,523.00 14,344.29 -142,178.71 -90.84%14,344.2915-000-40300 156,523.00
Prior Year Reserves 40,000.00 0.00 -40,000.00 -100.00%0.0015-000-42014 40,000.00
Interest Income 100.00 0.00 -100.00 -100.00%0.0015-000-47000 100.00
Total Revenue:14,344.2914,344.29196,623.00 196,623.00 -182,278.71 -92.70 %
Expense
Auditing 3,500.00 0.00 3,500.00 100.00%0.0015-951-60200 3,500.00
Elections 9,000.00 6,077.19 2,922.81 32.48%6,077.1915-951-62100 9,000.00
Advertising 6,500.00 0.00 6,500.00 100.00%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 0.00 3,670.00 100.00%0.0015-951-63551 3,670.00
Dues & Membership 600.00 0.00 600.00 100.00%0.0015-951-68100 600.00
Travel & per diem 4,040.00 0.00 4,040.00 100.00%0.0015-951-68200 4,040.00
Office Supplies 2,000.00 0.00 2,000.00 100.00%0.0015-951-70100 2,000.00
Miscellaneous Expense 20,341.00 2,200.00 18,141.00 89.18%2,200.0015-951-79999 20,341.00
EDC Projects 63,193.00 824.99 62,368.01 98.69%824.9915-951-87150 63,193.00
Transfer to General Fund 51,996.00 5,845.80 46,150.20 88.76%5,845.8015-951-99100 51,996.00
Transfer to Debt Service 26,783.00 0.00 26,783.00 100.00%0.0015-951-99400 26,783.00
Total Expense:14,947.9814,947.98196,623.00 196,623.00 181,675.02 92.40 %
Total Fund: 15 - ECONOMIC DEVELOPMENT CORPORATION 4B:-603.69-603.690.00 0.00 -603.69
Report Total:-603.69 -603.690.00 0.00 -603.69
Economic Development Corporation 4B 29 of 34 Monday, January 14, 2013
ECONOMIC DEVELOPMENT CORPORATION 4B FUND
October 2012 1/12 Months (8.3% 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 $23,825 (26%).
FY 2012 FY 2013
Total 90,929$ 114,754$ 23,825$
Increase
(Decrease)
Year to Date Sales Tax Collections
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: October collections are for August sales.)
$-
$20,000.00
$40,000.00
$60,000.00
$80,000.00
$100,000.00
$120,000.00
$140,000.00
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Sales Tax Collections
FY 2012
FY 2013
EXPENDITURES
Elections: November election costs
Miscellaneous Expenses: Aerial images
EDC Projects: EDC brochure
Transfer to General Fund: October administration fees
Economic Development Corporation 4B 30 of 34 Monday, January 14, 2013
1/11/2013 12:22:41 PM Page 1 of 3
My Budget Report
Town of Trophy Club, TX Account Summary
For Fiscal: 2012-2013 Period Ending: 11/30/2012
Fiscal
Activity
Variance
Favorable
(Unfavorable)
Percent
Remaining
Current
Total Budget
Period
Activity
Original
Total Budget
Fund: 15 - ECONOMIC DEVELOPMENT CORPORATION 4B
Revenue
Sales Tax - General 156,523.00 25,293.60 -131,229.40 -83.84%10,949.3115-000-40300 156,523.00
Prior Year Reserves 40,000.00 0.00 -40,000.00 -100.00%0.0015-000-42014 40,000.00
Interest Income 100.00 0.00 -100.00 -100.00%0.0015-000-47000 100.00
Total Revenue:25,293.6010,949.31196,623.00 196,623.00 -171,329.40 -87.14 %
Expense
Auditing 3,500.00 0.00 3,500.00 100.00%0.0015-951-60200 3,500.00
Elections 9,000.00 6,077.19 2,922.81 32.48%0.0015-951-62100 9,000.00
Advertising 6,500.00 750.00 5,750.00 88.46%750.0015-951-63200 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 1,890.00 1,780.00 48.50%1,890.0015-951-63551 3,670.00
Dues & Membership 600.00 250.00 350.00 58.33%250.0015-951-68100 600.00
Travel & per diem 4,040.00 0.00 4,040.00 100.00%0.0015-951-68200 4,040.00
Office Supplies 2,000.00 0.00 2,000.00 100.00%0.0015-951-70100 2,000.00
Miscellaneous Expense 20,341.00 7,801.48 12,539.52 61.65%5,601.4815-951-79999 20,341.00
EDC Projects 63,193.00 7,483.32 55,709.68 88.16%6,658.3315-951-87150 63,193.00
Transfer to General Fund 51,996.00 10,926.97 41,069.03 78.98%5,081.1715-951-99100 51,996.00
Transfer to Debt Service 26,783.00 0.00 26,783.00 100.00%0.0015-951-99400 26,783.00
Total Expense:35,178.9620,230.98196,623.00 196,623.00 161,444.04 82.11 %
Total Fund: 15 - ECONOMIC DEVELOPMENT CORPORATION 4B:-9,885.36-9,281.670.00 0.00 -9,885.36
Report Total:-9,281.67 -9,885.360.00 0.00 -9,885.36
Economic Development Corporation 4B 31 of 34 Monday, January 14, 2013
ECONOMIC DEVELOPMENT CORPORATION 4B FUND
November 2012 2/12 Months (16.6% 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 $5,139 (2.6%).
Below is a chart comparing sales tax collections for the prior and current years by month.
The amounts illustrated represent total sales tax collections which include portions for the general
fund (50%), EDC 4A (25%) and 4B (12.5%), and the street maintenance fund (12.5%). (Additional
Note: November collections are for September sales.)
EXPENDITURES
Advertising: Chamber directory advertisement
Schools & Training: ICSC conference registration
Dues & Memberships: ICSC member dues
Miscellaneous Expenses: ADF Regional Banner hardware & ICSC booth
EDC Projects: Website redesign
FY 2012 FY 2013
Total 197,210$ 202,349$ 5,139$
Increase
(Decrease)
Year to Date Sales Tax Collections
$-
$20,000.00
$40,000.00
$60,000.00
$80,000.00
$100,000.00
$120,000.00
$140,000.00
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Sales Tax Collections
FY 2012
FY 2013
Economic Development Corporation 4B 32 of 34 Monday, January 14, 2013
100 Municipal Drive
Trophy Club, Texas 76262Trophy Club Entities
Legislation Details (With Text)
File #: Version:12013-23-T Name:
Status:Type:Agenda Item Regular Session
File created:In control:1/11/2013 Economic Development Corporation 4B (EDC 4B)
On agenda:Final action:1/14/2013
Title:Assistant Town Manager Update:
- Trophy Wood
- Village Center
- Plaza
- Commons
Attachments:
Action ByDate Action ResultVer.
Title
Assistant Town Manager Update:
- Trophy Wood
- Village Center
- Plaza
- Commons
Economic Development Corporation 4B 33 of 34 Monday, January 14, 2013
100 Municipal Drive
Trophy Club, Texas 76262Trophy Club Entities
Legislation Details (With Text)
File #: Version:12013-24-T Name:
Status:Type:Agenda Item Regular Session
File created:In control:1/11/2013 Economic Development Corporation 4B (EDC 4B)
On agenda:Final action:1/14/2013
Title:Next meeting scheduled for February 11, 2013.
Attachments:
Action ByDate Action ResultVer.
Title
Next meeting scheduled for February 11, 2013.
Economic Development Corporation 4B 34 of 34 Monday, January 14, 2013