Agenda Packet EDC 4B 10/14/2013Economic Development Corporation 4B
(EDC 4B)
Trophy Club Entities
Meeting Agenda
100 Municipal Drive
Trophy Club, Texas 76262
Svore Municipal Building Boardroom7:00 PMMonday, October 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
2013-668-T Election of officers.
2013-669-T Discuss and take appropriate action regarding the September 2013
Financials.
September 2013 Financials.pdfAttachments:
2013-670-T Discuss and take appropriate action regarding the September 16, 2013
Minutes.
September 16 2013 Minutes.pdfAttachments:
2013-671-T Discuss and take appropriate action regarding Strategic Planning.
2013-672-T Assistant Town Manager Update:
- Trophy Club Town Center
- The Plaza
- Trophy Wood
- ICSC
- ED/Marketing position
EXECUTIVE SESSION
2013-673-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.
Economic Development Corporation 4B 1 of 14 Monday, October 10, 2013
October 14, 2013Economic Development
Corporation 4B (EDC 4B)
Meeting Agenda
RECONVENE INTO REGULAR SESSION
2013-674-T Consider and take appropriate action regarding the Executive 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, October 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 14 Monday, October 10, 2013
100 Municipal Drive
Trophy Club, Texas 76262Trophy Club Entities
Legislation Details (With Text)
File #: Version:12013-668-T Name:
Status:Type:Agenda Item Regular Session
File created:In control:10/11/2013 Economic Development Corporation 4B (EDC 4B)
On agenda:Final action:10/14/2013
Title:Election of officers.
Attachments:
Action ByDate Action ResultVer.
Election of officers.
Economic Development Corporation 4B 3 of 14 Monday, October 10, 2013
100 Municipal Drive
Trophy Club, Texas 76262Trophy Club Entities
Legislation Details (With Text)
File #: Version:12013-669-T Name:
Status:Type:Agenda Item Regular Session
File created:In control:10/11/2013 Economic Development Corporation 4B (EDC 4B)
On agenda:Final action:10/14/2013
Title:Discuss and take appropriate action regarding the September 2013 Financials.
Attachments:September 2013 Financials.pdf
Action ByDate Action ResultVer.
Discuss and take appropriate action regarding the September 2013 Financials.
Economic Development Corporation 4B 4 of 14 Monday, October 10, 2013
ECONOMIC DEVELOPMENT CORPORATION 4B FUND
September 2013
12/12 Months (100% 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 $29,577 (2.52%).
Year to Date Sales Tax Collections
Increase (Decrease) FY 2012 FY 2013
Total $ 1,1173,988 $ 1,203,565 $ 29,577
Below is a chart comparing monthly sales tax collections for the prior and current fiscal years. The
amounts illustrated represent total sales tax collections which include portions for the general fund,
CCPD fund, 4B fund, and the street maintenance fund. (Additional Note: September collections
are for July sales).
EXPENDITURES
EDC Projects – $17,200 September legal fees for Phase 1 of TIF creation (y-t-d legal fees
$48,779).
$-
$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 5 of 14 Monday, October 10, 2013
10/11/2013 9:39:28 AM Page 1 of 3
Budget Report
Town of Trophy Club, TX Account Summary
For Fiscal: 2012-2013 Period Ending: 09/30/2013
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 156,523.00 226,276.10 69,753.10 144.56%31,698.0115-000-40300 156,523.00
Total Category: 40 - Taxes:226,276.1031,698.01156,523.00 156,523.00 69,753.10 44.56 %
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:226,276.1031,698.01196,623.00 196,623.00 29,653.10 15.08 %
Expense
Category: 60 - Purchased Services
Auditing 3,500.00 3,500.00 0.00 0.00%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 2,910.16 3,589.84 55.23%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%0.0015-951-63551 3,670.00
Dues & Membership 600.00 400.00 200.00 33.33%0.0015-951-68100 600.00
Travel & per diem 4,040.00 115.89 3,924.11 97.13%0.0015-951-68200 4,040.00
Total Category: 60 - Purchased Services:14,997.140.0032,310.00 32,310.00 17,312.86 53.58 %
Category: 70 - Supplies
Office Supplies 2,000.00 522.54 1,477.46 73.87%0.0015-951-70100 2,000.00
Miscellaneous Expense 20,341.00 12,426.97 7,914.03 38.91%144.9515-951-79999 20,341.00
Total Category: 70 - Supplies:12,949.51144.9522,341.00 22,341.00 9,391.49 42.04 %
Category: 80 - Capital
EDC Projects 113,193.00 119,538.00 -6,345.00 -5.61%17,200.4415-951-87150 63,193.00
Total Category: 80 - Capital:119,538.0017,200.4463,193.00 113,193.00 -6,345.00 -5.61 %
Category: 99 - Other Financing Uses
Transfer to General Fund 51,996.00 52,238.63 -242.63 -0.47%0.0015-951-99100 51,996.00
Transfer to Debt Service 234,533.00 234,533.42 -0.42 0.00%0.0015-951-99400 26,783.00
Total Category: 99 - Other Financing Uses:286,772.050.0078,779.00 286,529.00 -243.05 -0.08 %
Total Expense:434,256.7017,345.39196,623.00 454,373.00 20,116.30 4.43 %
Total Fund: 15 - ECONOMIC DEVELOPMENT CORPORATION 4B:-207,980.6014,352.620.00 -257,750.00 49,769.40
Report Total:14,352.62 -207,980.600.00 -257,750.00 49,769.40
Economic Development Corporation 4B 6 of 14 Monday, October 10, 2013
100 Municipal Drive
Trophy Club, Texas 76262Trophy Club Entities
Legislation Details (With Text)
File #: Version:12013-670-T Name:
Status:Type:Agenda Item Regular Session
File created:In control:10/11/2013 Economic Development Corporation 4B (EDC 4B)
On agenda:Final action:10/14/2013
Title:Discuss and take appropriate action regarding the September 16, 2013 Minutes.
Attachments:September 16 2013 Minutes.pdf
Action ByDate Action ResultVer.
Discuss and take appropriate action regarding the September 16, 2013 Minutes.
Economic Development Corporation 4B 7 of 14 Monday, October 10, 2013
MINUTES OF REGULAR SESSION FOR THE
ECONOMIC DEVELOPMENT CORPORATION 4B BOARD
LOCATION: 100 MUNICIPAL DRIVE, TROPHY CLUB, TEXAS
Monday, September 16, 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 September 16, 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 7:20 p.m.
Dean Murray Secretary/Treasurer
Dave Brod Director
Sean Weaver Director
Randall Conn Director
STAFF AND GUEST(S) PRESENT:
Stephen Seidel Assistant Town Manager
April Reiling PIO/Marketing Manager
Call to order and announce a quorum.
President Hicks, noting a quorum of EDC 4B, called the regular session to order at 7:05 p.m.
REGULAR SESSION
1. Discuss and take appropriate action regarding the EDC 4B FY14 Budget.
Assistant Town Manager Stephen Seidel provided an overview of the FY14 budget, including
how the TIRZ #1 and TIRZ # 2 will impact this budget, and next year’s budget. The Board
discussed the new ED/Marketing person’s responsibilities and scope.
Motion by Director Dave Brod to approve the EDC 4B FY14 budget with amendment regarding
website fees. Seconded by Director Dean Murray. Motion passed 5-1, with Director Sean
Weaver voting against.
2. Discuss and take appropriate action regarding the appointment of one (1) EDC 4B
Director to the Trophy Club TIRZ No. 1 Board, providing for a subsequent
recommendation to the Town Council.
Motion by Director Murray to nominate Director Brod for the EDC 4B seat on the TIRZ No. 1
Board. Seconded by Director Weaver. Motion passed unanimously.
3. Discuss and take appropriate action regarding Financials dated July 2013 and
August 2013.
Economic Development Corporation 4B 8 of 14 Monday, October 10, 2013
Assistant Town Manager Seidel reported an uptick in sales tax revenue last month. The largest
expenditure in July was for SH 114 bridge painting and in August the largest expense was for
the creation of the TIRZ No. 1.
Motion by Director Murray to accept July 2013 and August 2013 Financials as presented.
Seconded by Director Randall Conn. Motion passed unanimously.
4. Discuss and take appropriate action regarding the Minutes dated July 29, 2013
and August 12, 2013.
Motion by Director Rebecca Shuman to accept the July 29, 2013 and August 12, 2013 Minutes
as presented. Motion seconded by Director Weaver. Motion passed unanimously.
5. Discuss and take appropriate action regarding Strategic Planning.
No action taken. Board tabled item to a later meeting date.
6. Assistant Town Manager Update:
- Trophy Club Town Center
- The Plaza
- Trophy Wood
- ICSC
- ADF
- Local Business Meet and Greet
Assistant Town Manager Seidel provided the Board updates and answered questions related to
economic development activities at various locations.
EXECUTIVE SESSION
7. 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.
The EDC 4B Board convened into Executive Session at 8:08 p.m.
RECONVENE INTO REGULAR SESSION
8. Consider and take appropriate action regarding Executive Session.
The EDC 4B Board reconvened in Regular Session at 9:36 p.m.
Motion made by Director Shuman to authorize the Board President, Town Manager and
Assistant Town Manager to pursue an incentive package as discussed in Executive Session.
Motion seconded by Director Brod. Motion passed unanimously.
Adjourn
Director Brod moved to adjourn at 9:38 p.m. Director Weaver seconded. The motion passed
unanimously.
Economic Development Corporation 4B 9 of 14 Monday, October 10, 2013
______________________________ _______________________________
James Hicks, President Dean Murray, Treasurer/Secretary
Economic Development Corporation 4B 10 of 14 Monday, October 10, 2013
100 Municipal Drive
Trophy Club, Texas 76262Trophy Club Entities
Legislation Details (With Text)
File #: Version:12013-671-T Name:
Status:Type:Agenda Item Regular Session
File created:In control:10/11/2013 Economic Development Corporation 4B (EDC 4B)
On agenda:Final action:10/14/2013
Title:Discuss and take appropriate action regarding Strategic Planning.
Attachments:
Action ByDate Action ResultVer.
Discuss and take appropriate action regarding Strategic Planning.
Economic Development Corporation 4B 11 of 14 Monday, October 10, 2013
100 Municipal Drive
Trophy Club, Texas 76262Trophy Club Entities
Legislation Details (With Text)
File #: Version:12013-672-T Name:
Status:Type:Agenda Item Regular Session
File created:In control:10/11/2013 Economic Development Corporation 4B (EDC 4B)
On agenda:Final action:10/14/2013
Title:Assistant Town Manager Update:
- Trophy Club Town Center
- The Plaza
- Trophy Wood
- ICSC
- ED/Marketing position
Attachments:
Action ByDate Action ResultVer.
Assistant Town Manager Update:
- Trophy Club Town Center
- The Plaza
- Trophy Wood
- ICSC
- ED/Marketing position
Economic Development Corporation 4B 12 of 14 Monday, October 10, 2013
100 Municipal Drive
Trophy Club, Texas 76262Trophy Club Entities
Legislation Details (With Text)
File #: Version:12013-673-T Name:
Status:Type:Agenda Item Regular Session
File created:In control:10/11/2013 Economic Development Corporation 4B (EDC 4B)
On agenda:Final action:10/14/2013
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.
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 13 of 14 Monday, October 10, 2013
100 Municipal Drive
Trophy Club, Texas 76262Trophy Club Entities
Legislation Details (With Text)
File #: Version:12013-674-T Name:
Status:Type:Agenda Item Regular Session
File created:In control:10/11/2013 Economic Development Corporation 4B (EDC 4B)
On agenda:Final action:10/14/2013
Title:Consider and take appropriate action regarding the Executive Session.
Attachments:
Action ByDate Action ResultVer.
Consider and take appropriate action regarding the Executive Session.
Economic Development Corporation 4B 14 of 14 Monday, October 10, 2013