Agenda Packet EDC 4B 03/11/2013Economic Development Corporation 4B
(EDC 4B)
Trophy Club Entities
Meeting Agenda
100 Municipal Drive
Trophy Club, Texas 76262
Svore Municipal Building Boardroom7:00 PMMonday, March 11, 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
1.2013-156-T Discuss and take appropriate action regarding approving a contract with
Catalyst Commercial.
2.2013-157-T Update regarding the Alliance Development Forum (ADF) event.
3.2013-158-T Update regarding Town website and logo.
4.2013-159-T Update regarding the 2013 Texas ICSC Conference.
5.2013-160-T Discuss and take appropriate action regarding the January 14, 2013
Minutes.
001 January 14 2013 Minutes.pdfAttachments:
6.2013-161-T Discuss and take appropriate action regarding the December 2012 and
January 2013 Financials.
December 2012 Financials.pdf
January 2013 Financials.pdf
Attachments:
7.2013-162-T Assistant Town Manager Update:
- Shops at Trophy Club
- Trophy Wood
- Village Center
- The Plaza
- The Commons
8.2013-163-T Next meeting scheduled for April 15, 2013.
Economic Development Corporation 4B 1 of 17 Monday, March 11, 2013
March 11, 2013Economic Development
Corporation 4B (EDC 4B)
Meeting Agenda
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 March 8, 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 17 Monday, March 11, 2013
100 Municipal Drive
Trophy Club, Texas 76262Trophy Club Entities
Legislation Details (With Text)
File #: Version:12013-156-T Name:
Status:Type:Agenda Item Regular Session
File created:In control:3/8/2013 Economic Development Corporation 4B (EDC 4B)
On agenda:Final action:3/11/2013
Title:Discuss and take appropriate action regarding approving a contract with Catalyst Commercial.
Attachments:
Action ByDate Action ResultVer.
Title
Discuss and take appropriate action regarding approving a contract with Catalyst Commercial.
Economic Development Corporation 4B 3 of 17 Monday, March 11, 2013
100 Municipal Drive
Trophy Club, Texas 76262Trophy Club Entities
Legislation Details (With Text)
File #: Version:12013-157-T Name:
Status:Type:Agenda Item Regular Session
File created:In control:3/8/2013 Economic Development Corporation 4B (EDC 4B)
On agenda:Final action:3/11/2013
Title:Update regarding the Alliance Development Forum (ADF) event.
Attachments:
Action ByDate Action ResultVer.
Title
Update regarding the Alliance Development Forum (ADF) event.
Economic Development Corporation 4B 4 of 17 Monday, March 11, 2013
100 Municipal Drive
Trophy Club, Texas 76262Trophy Club Entities
Legislation Details (With Text)
File #: Version:12013-158-T Name:
Status:Type:Agenda Item Regular Session
File created:In control:3/8/2013 Economic Development Corporation 4B (EDC 4B)
On agenda:Final action:3/11/2013
Title:Update regarding Town website and logo.
Attachments:
Action ByDate Action ResultVer.
Title
Update regarding Town website and logo.
Economic Development Corporation 4B 5 of 17 Monday, March 11, 2013
100 Municipal Drive
Trophy Club, Texas 76262Trophy Club Entities
Legislation Details (With Text)
File #: Version:12013-159-T Name:
Status:Type:Agenda Item Regular Session
File created:In control:3/8/2013 Economic Development Corporation 4B (EDC 4B)
On agenda:Final action:3/11/2013
Title:Update regarding the 2013 Texas ICSC Conference.
Attachments:
Action ByDate Action ResultVer.
Title
Update regarding the 2013 Texas ICSC Conference.
Economic Development Corporation 4B 6 of 17 Monday, March 11, 2013
100 Municipal Drive
Trophy Club, Texas 76262Trophy Club Entities
Legislation Details (With Text)
File #: Version:12013-160-T Name:
Status:Type:Agenda Item Regular Session
File created:In control:3/8/2013 Economic Development Corporation 4B (EDC 4B)
On agenda:Final action:3/11/2013
Title:Discuss and take appropriate action regarding the January 14, 2013 Minutes.
Attachments:001 January 14 2013 Minutes.pdf
Action ByDate Action ResultVer.
Title
Discuss and take appropriate action regarding the January 14, 2013 Minutes.
Economic Development Corporation 4B 7 of 17 Monday, March 11, 2013
MINUTES OF REGULAR SESSION FOR THE
ECONOMIC DEVELOPMENT CORPORATION 4B BOARD
LOCATION: 100 MUNICIPAL DRIVE, TROPHY CLUB, TEXAS
Monday, January 14, 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 January 14, 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
Dean Murray Secretary/Treasurer
Sean Weaver Director
STAFF AND GUEST(S) PRESENT:
Stephen Seidel Assistant Town Manager
Jason Claunch Catalyst Commercial
Bill Rose Council member
Call to order and announce a quorum.
President Hicks, noting a quorum of EDC 4B, called the regular session to order at 7:15 p.m.
REGULAR SESSION
1. Discuss and take appropriate action regarding the ILA with Town Council to
restructure debt.
Assistant Town Manager Seidel provided an overview of the ILA. As discussed on multiple
occasions over several months, the Board would enter into an ILA with the Town Council to call
the 2002-A General Obligation Bonds in the amount of $660,000. In November 2012, citizens
passed a sales tax reallocation of ¼ cent from EDC-4A to EDC-4B which would provide 4B with
½ cent total. To save interest as well as restructure the debt to provide more flexibility, the
Board entered into a 16-year agreement with the Town Council to repay the debt. The ILA was
written to allow repayment flexibility in the event the Board needs to address an immediate
economic development opportunity.
Directors asked Assistant Town Manager a couple of clarifying questions. Director Shuman
motioned to approve the ILA as presented. Director Murray seconded. The motion passed
unanimously.
Economic Development Corporation 4B 8 of 17 Monday, March 11, 2013
2. 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.
Assistant Town Manager Seidel explained to the Board that this is the budget amendment
discussed during the FY12 Budget process that would be presented, if the November sales tax
reallocation election was successful. The election was approved by voters which set in motion
the ability to restructure debt and call the bonds early. The Board utilized a portion of their Fund
Balance to pay the amount. The Directors discussed the amendment and asked several
questions regarding current Fund Balance amount and future budgets. Director Shuman
motioned to approve. Director Murray seconded. The motion passed unanimously.
3. Discuss and take appropriate action regarding engaging Catalyst Commercial to
update Trophy Club’s merchandising plan and retail recruitment.
Assistant Town Manager Seidel stated the item was a continuation from the last Board meeting.
Jason Claunch, President of Catalyst Commercial, made a brief presentation and answered any
questions. The Board discussed entering into a new contract with Catalyst Commercial to
update the Town’s merchandising analytics as well as assist staff with retail recruitment. The
Board recognized the need to update the demographics, trade area maps, traffic counts, etc.
However, the discussion was centered upon compensation for services related to retail
recruitment services and whether the contract was built upon an incentive basis or a strict fee
for service. Ultimately, the Board decided to enter into a 6 month retail recruitment plan for
$1000/month. At the end of 6 months, the Board will evaluate whether to renew the contract.
Director Murray motioned to approve the contract to not exceed $8500 and strike paragraphs
two and three under Section 2. Fees. Director Weaver seconded. The motion passed
unanimously.
4. Logo and website development update.
The Board was updated that Council did not take action to approve the proposed flag logo at
their last meeting. Instead, the Council opted to allow BNHS students to draw a logo and submit
for review. The Board was upset that the Council did not take action to approve the proposed
logo since it had been reviewed by their Board, the Vision Trophy Club committee, citizens, etc.
The website is almost 300 pages of content and staff is nearing content completion. Assistant
Town Manager expected the website should be live by first or second week of February.
5. Discuss and take appropriate action regarding the October 22, 2012 and
November 19, 2012 Minutes.
Director Shuman asked whether the Minutes could be slightly more detailed rather than strictly
“action” minutes. Assistant Town Manager said that in the past individuals across many Boards
wanted certain statements included or not included which put staff in a difficult position. Thus,
staff began to create action only minutes. However, Seidel noted that he would provide
additional discussion details with future EDC minutes. Director Shuman moved to approve.
Director Weaver seconded. The motion was approved unanimously.
Economic Development Corporation 4B 9 of 17 Monday, March 11, 2013
6. Discuss and take appropriate action to approve the October 2012 and November
2012 Financials.
Director Weaver moved to approve the October 2012 and November 2012 financials. Director
Shuman seconded. The motion was approved unanimously.
7. Assistant Town Manager Update:
- Trophy Wood
- Village Center
- Plaza
- 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 February 11, 2013
Adjourn
Director Shuman moved to adjourn at 8:58 p.m. Director Weaver seconded. The motion passed
unanimously.
______________________________ _______________________________
James Hicks, President Dean Murray, Treasurer/Secretary
Economic Development Corporation 4B 10 of 17 Monday, March 11, 2013
100 Municipal Drive
Trophy Club, Texas 76262Trophy Club Entities
Legislation Details (With Text)
File #: Version:12013-161-T Name:
Status:Type:Agenda Item Regular Session
File created:In control:3/8/2013 Economic Development Corporation 4B (EDC 4B)
On agenda:Final action:3/11/2013
Title:Discuss and take appropriate action regarding the December 2012 and January 2013 Financials.
Attachments:December 2012 Financials.pdf
January 2013 Financials.pdf
Action ByDate Action ResultVer.
Title
Discuss and take appropriate action regarding the December 2012 and January 2013 Financials.
Economic Development Corporation 4B 11 of 17 Monday, March 11, 2013
2/5/2013 9:59:18 AM Page 1 of 3
My Budget Report
Town of Trophy Club, TX Account Summary
For Fiscal: 2012-2013 Period Ending: 12/31/2012
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 36,207.57 -120,315.43 -76.87%10,913.9715-000-40300 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:36,207.5710,913.97196,623.00 196,623.00 -160,415.43 -81.59 %
Expense
Auditing 3,500.00 0.00 3,500.00 100.00%0.0015-951-60200 3,500.00
Elections 9,000.00 6,294.09 2,705.91 30.07%216.9015-951-62100 9,000.00
Advertising 6,500.00 1,000.00 5,500.00 84.62%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 1,890.00 1,780.00 48.50%0.0015-951-63551 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%12.0015-951-68200 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 8,324.18 12,016.82 59.08%522.7015-951-79999 20,341.00
EDC Projects 63,193.00 5,817.64 57,375.36 90.79%-1,665.6815-951-87150 63,193.00
Transfer to General Fund 51,996.00 14,590.30 37,405.70 71.94%3,663.3315-951-99100 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:38,178.212,749.25196,623.00 196,623.00 158,444.79 80.58 %
Total Fund: 15 - ECONOMIC DEVELOPMENT CORPORATION 4B:-1,970.648,164.720.00 0.00 -1,970.64
Report Total:8,164.72 -1,970.640.00 0.00 -1,970.64
Economic Development Corporation 4B 12 of 17 Monday, March 11, 2013
ECONOMIC DEVELOPMENT CORPORATION 4B FUND
December 2012 3/12 Months (25% 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 $7,858 (2.8%).
Year to Date Sales Tax Collections
Increase (Decrease) FY 2012 FY 2013
Total $ 281,803 $ 289,661 $ 7,858
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: December collections are for October sales.)
EXPENDITURES
Elections: Translation of Election Ordinance
Miscellaneous Expenses: Credit due to reimbursement from other cities for ICSC booth/Expenses
for electricity for ICSC booth; reimbursed for other cities proportional share
$-
$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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No
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De
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Ja
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Fe
b
Ma
r
Ap
r
Ma
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Ju
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Sales Tax Collections
FY 2012
FY 2013
Economic Development Corporation 4B 13 of 17 Monday, March 11, 2013
My Budget Report For Fiscal: 2012-2013 Period Ending: 01/31/2013
3/6/2013 10:06:14 AM 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 47,890.7011,683.13156,523.00 156,523.00 -108,632.30 -69.40 %
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 %
47,890.7011,683.13196,623.00 196,623.00 -148,732.30Total Revenue:-75.64 %
Expense
60 - Purchased Services 9,718.09272.0032,310.00 32,310.00 22,591.91 69.92 %
70 - Supplies 8,369.4245.2422,341.00 22,341.00 13,971.58 62.54 %
80 - Capital 3,213.59-2,604.0563,193.00 63,193.00 59,979.41 94.91 %
99 - Other Financing Uses 19,725.644,850.3678,779.00 78,779.00 59,053.36 74.96 %
41,026.742,563.55196,623.00 196,623.00 155,596.26Total Expense:79.13 %
6,863.969,119.580.00 0.00 6,863.96Total Fund: 15 - ECONOMIC DEVELOPMENT CORPORATION 4B:
Report Total:9,119.58 6,863.960.00 0.00 6,863.96
Economic Development Corporation 4B 14 of 17 Monday, March 11, 2013
ECONOMIC DEVELOPMENT CORPORATION 4B FUND
January 2013 4/12 Months (33% 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 $21,255 (5.87%).
Year to Date Sales Tax Collections
Increase (Decrease) FY 2012 FY 2013
Total $ 361,871 $ 383,126 $ 21,255
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: December collections are for October sales.)
EXPENDITURES
Elections: Translation of Election Ordinance
Miscellaneous Expenses: Credit due to reimbursement from other cities for ICSC booth/Expenses
for electricity for ICSC booth; reimbursed for other cities proportional share
$-
$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 15 of 17 Monday, March 11, 2013
100 Municipal Drive
Trophy Club, Texas 76262Trophy Club Entities
Legislation Details (With Text)
File #: Version:12013-162-T Name:
Status:Type:Agenda Item Regular Session
File created:In control:3/8/2013 Economic Development Corporation 4B (EDC 4B)
On agenda:Final action:3/11/2013
Title:Assistant Town Manager Update:
- Shops at Trophy Club
- Trophy Wood
- Village Center
- The Plaza
- The Commons
Attachments:
Action ByDate Action ResultVer.
Title
Assistant Town Manager Update:
- Shops at Trophy Club
- Trophy Wood
- Village Center
- The Plaza
- The Commons
Economic Development Corporation 4B 16 of 17 Monday, March 11, 2013
100 Municipal Drive
Trophy Club, Texas 76262Trophy Club Entities
Legislation Details (With Text)
File #: Version:12013-163-T Name:
Status:Type:Agenda Item Regular Session
File created:In control:3/8/2013 Economic Development Corporation 4B (EDC 4B)
On agenda:Final action:3/11/2013
Title:Next meeting scheduled for April 15, 2013.
Attachments:
Action ByDate Action ResultVer.
Title
Next meeting scheduled for April 15, 2013.
Economic Development Corporation 4B 17 of 17 Monday, March 11, 2013