Agenda Packet EDC 4B 02/10/2014Economic Development Corporation 4B
(EDC 4B)
Trophy Club Entities
Meeting Agenda
100 Municipal Drive
Trophy Club, Texas 76262
Svore Municipal Building Boardroom7:00 PMMonday, February 10, 2014
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
1.2014-931-T Discuss and take appropriate action regarding the November and December
2013 Financials.
November 2013 4B Financial Report.pdf
December 2013 4B Financial Report.pdf
Attachments:
2.2014-936-T Discuss and take appropriate action regarding the January 13, 2014
Minutes.
001 January 13 2014 Minutes.pdfAttachments:
3.2014-932-T Update and discussion regarding the upcoming Trophy Club Business Meet
and Greet event.
4.2014-937-T Discuss and take appropriate action regarding Strategic Planning.
EDC 4B Strategic Plan Draft.pdfAttachments:
5.2014-933-T Economic development projects update:
- Discover Trophy Club magazine
- Logo update
- Business Spotlight
- Shop Local program
- TIF Board
- ADF update
- Economic Climate Dashboard
- DFW Marketing Team
- Artisan Vapor
EDC 4B Board Page 1 of 16 Monday, February 10, 2014
February 10, 2014Economic Development
Corporation 4B (EDC 4B)
Meeting Agenda
6.2014-934-T PIO Updates:
- The Plaza
- Trophy Wood
- Trophy Club Town Center
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 February 6, 2014 by 5:00 P.M. in
accordance with Chapter 551, Texas Government Code.
_____________________________________________________
Alora Wachholz, Economic Development & Marketing Coordinator
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
______________________, 2014.
________________________________, Title: ___________________________
EDC 4B Board Page 2 of 16 Monday, February 10, 2014
100 Municipal Drive
Trophy Club, Texas 76262Trophy Club Entities
Legislation Details (With Text)
File #: Version:12014-931-T Name:
Status:Type:Agenda Item Regular Session
File created:In control:2/6/2014 Economic Development Corporation 4B (EDC 4B)
On agenda:Final action:2/10/2014
Title:Discuss and take appropriate action regarding the November and December 2013 Financials.
Attachments:November 2013 4B Financial Report.pdf
December 2013 4B Financial Report.pdf
Action ByDate Action ResultVer.
Discuss and take appropriate action regarding the November and December 2013 Financials.
EDC 4B Board Page 3 of 16 Monday, February 10, 2014
ECONOMIC DEVELOPMENT CORPORATION 4B FUND November 2013
2/12 Months (16.6% of Fiscal Year)
REVENUES
Sales Tax – As shown below, the Town’s total current sales tax collections are exceeded by the
prior year’s sales tax collections by $18,290 (9.04 %). Sales Tax Revenues are at 14.90% of the
budgeted amount.
Year to Date Sales Tax Collections
Increase (Decrease) FY 2013 FY 2014
Total $ 202,349 $ 184,059 $ (18,290)
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%), CCPD (12.5%), 4B (25%), and the street maintenance fund (12.5%). (Additional Note:
November collections are for September sales.)
EXPENDITURES
There are no noteworthy expenditures as of 11/30/2013.
$-
$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 2013
FY 2014
EDC 4B Board Page 4 of 16 Monday, February 10, 2014
1/27/2014 2:22:26 PM Page 1 of 3
Budget Report
Town of Trophy Club, TX Account Summary
For Fiscal: 2013-2014 Period Ending: 11/30/2013
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 305,000.00 46,014.80 -258,985.20 -84.91%22,443.3315-000-40300 305,000.00
Total Category: 40 - Taxes:46,014.8022,443.33305,000.00 305,000.00 -258,985.20 -84.91 %
Category: 42 - Intergovernmental
Prior Year Reserves 35,000.00 0.00 -35,000.00 -100.00%0.0015-000-42014 35,000.00
Total Category: 42 - Intergovernmental:0.000.0035,000.00 35,000.00 -35,000.00 -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:46,014.8022,443.33340,100.00 340,100.00 -294,085.20 -86.47 %
Expense
Category: 60 - Purchased Services
Auditing 1,000.00 0.00 1,000.00 100.00%0.0015-951-60200 1,000.00
Advertising 16,500.00 0.00 16,500.00 100.00%0.0015-951-63200 16,500.00
Printing 1,000.00 0.00 1,000.00 100.00%0.0015-951-63250 1,000.00
Schools & Training 2,320.00 1,080.00 1,240.00 53.45%1,080.0015-951-63551 2,320.00
Dues & Membership 600.00 0.00 600.00 100.00%0.0015-951-68100 600.00
Travel & per diem 3,226.00 24.00 3,202.00 99.26%24.0015-951-68200 3,226.00
Total Category: 60 - Purchased Services:1,104.001,104.0024,646.00 24,646.00 23,542.00 95.52 %
Category: 70 - Supplies
Office Supplies 1,000.00 0.00 1,000.00 100.00%0.0015-951-70100 1,000.00
Miscellaneous Expense 6,750.00 682.50 6,067.50 89.89%682.5015-951-79999 6,750.00
Total Category: 70 - Supplies:682.50682.507,750.00 7,750.00 7,067.50 91.19 %
Category: 80 - Capital
EDC Projects 50,744.00 280.50 50,463.50 99.45%0.0015-951-87150 50,744.00
Total Category: 80 - Capital:280.500.0050,744.00 50,744.00 50,463.50 99.45 %
Category: 99 - Other Financing Uses
Transfer to General Fund 71,996.00 8,984.97 63,011.03 87.52%4,522.9915-951-99100 71,996.00
Transfer to Debt Service 54,964.00 0.00 54,964.00 100.00%0.0015-951-99400 54,964.00
Total Category: 99 - Other Financing Uses:8,984.974,522.99126,960.00 126,960.00 117,975.03 92.92 %
Total Expense:11,051.976,309.49210,100.00 210,100.00 199,048.03 94.74 %
Total Fund: 15 - ECONOMIC DEVELOPMENT CORPORATION 4B:34,962.8316,133.84130,000.00 130,000.00 -95,037.17
Report Total:16,133.84 34,962.83130,000.00 130,000.00 -95,037.17
EDC 4B Board Page 5 of 16 Monday, February 10, 2014
ECONOMIC DEVELOPMENT CORPORATION 4B FUND December 2013
3/12 Months (25% of Fiscal Year)
REVENUES
Sales Tax – As shown below, the Town’s total current sales tax collections are exceeded by the
prior year’s sales tax collections by $21,961 (7.58 %). Sales Tax Revenues are at 21.67% of the
budgeted amount.
Year to Date Sales Tax Collections
Increase (Decrease) FY 2013 FY 2014
Total $ 289,661 $ 267,700 $ (21,961)
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%), CCPD (12.5%), 4B (25%), and the street maintenance fund (12.5%). (Additional Note:
November collections are for September sales.)
EXPENDITURES
There are no noteworthy expenditures as of 12/31/2013.
$-
$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 2013
FY 2014
EDC 4B Board Page 6 of 16 Monday, February 10, 2014
1/22/2014 2:45:22 PM Page 1 of 3
Budget Report
Town of Trophy Club, TX Account Summary
For Fiscal: 2013-2014 Period Ending: 12/31/2013
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 305,000.00 67,492.19 -237,507.81 -77.87%21,477.3915-000-40300 305,000.00
Total Category: 40 - Taxes:67,492.1921,477.39305,000.00 305,000.00 -237,507.81 -77.87 %
Category: 42 - Intergovernmental
Prior Year Reserves 35,000.00 0.00 -35,000.00 -100.00%0.0015-000-42014 35,000.00
Total Category: 42 - Intergovernmental:0.000.0035,000.00 35,000.00 -35,000.00 -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:67,492.1921,477.39340,100.00 340,100.00 -272,607.81 -80.16 %
Expense
Category: 60 - Purchased Services
Auditing 1,000.00 0.00 1,000.00 100.00%0.0015-951-60200 1,000.00
Advertising 16,500.00 250.00 16,250.00 98.48%250.0015-951-63200 16,500.00
Printing 1,000.00 0.00 1,000.00 100.00%0.0015-951-63250 1,000.00
Schools & Training 2,320.00 1,080.00 1,240.00 53.45%0.0015-951-63551 2,320.00
Dues & Membership 600.00 0.00 600.00 100.00%0.0015-951-68100 600.00
Travel & per diem 3,226.00 52.00 3,174.00 98.39%28.0015-951-68200 3,226.00
Total Category: 60 - Purchased Services:1,382.00278.0024,646.00 24,646.00 23,264.00 94.39 %
Category: 70 - Supplies
Office Supplies 1,000.00 120.70 879.30 87.93%120.7015-951-70100 1,000.00
Miscellaneous Expense 6,750.00 682.50 6,067.50 89.89%0.0015-951-79999 6,750.00
Total Category: 70 - Supplies:803.20120.707,750.00 7,750.00 6,946.80 89.64 %
Category: 80 - Capital
EDC Projects 50,744.00 2,195.50 48,548.50 95.67%1,915.0015-951-87150 50,744.00
Total Category: 80 - Capital:2,195.501,915.0050,744.00 50,744.00 48,548.50 95.67 %
Category: 99 - Other Financing Uses
Transfer to General Fund 71,996.00 12,173.86 59,822.14 83.09%3,188.8915-951-99100 71,996.00
Transfer to Debt Service 54,964.00 0.00 54,964.00 100.00%0.0015-951-99400 54,964.00
Total Category: 99 - Other Financing Uses:12,173.863,188.89126,960.00 126,960.00 114,786.14 90.41 %
Total Expense:16,554.565,502.59210,100.00 210,100.00 193,545.44 92.12 %
Total Fund: 15 - ECONOMIC DEVELOPMENT CORPORATION 4B:50,937.6315,974.80130,000.00 130,000.00 -79,062.37
Report Total:15,974.80 50,937.63130,000.00 130,000.00 -79,062.37
EDC 4B Board Page 7 of 16 Monday, February 10, 2014
100 Municipal Drive
Trophy Club, Texas 76262Trophy Club Entities
Legislation Details (With Text)
File #: Version:12014-936-T Name:
Status:Type:Agenda Item Regular Session
File created:In control:2/6/2014 Economic Development Corporation 4B (EDC 4B)
On agenda:Final action:2/10/2014
Title:Discuss and take appropriate action regarding the January 13, 2014 Minutes.
Attachments:001 January 13 2014 Minutes.pdf
Action ByDate Action ResultVer.
Discuss and take appropriate action regarding the January 13, 2014 Minutes.
EDC 4B Board Page 8 of 16 Monday, February 10, 2014
MINUTES OF REGULAR SESSION FOR THE
ECONOMIC DEVELOPMENT CORPORATION 4B BOARD
LOCATION: 100 MUNICIPAL DRIVE, TROPHY CLUB, TEXAS
Monday, January 13, 2014
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 13, 2014. 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
Gregory Wilson Director
Randall Conn Director
Dave Brod Director – Arrived at 7:17 pm
STAFF AND GUEST(S) PRESENT:
Stephen Seidel Assistant Town Manager
April Reiling PIO/Marketing Manager
Alora Wachholz Economic Development & Marketing Coordinator
Call to order and announce a quorum at 7:01 pm.
CITIZEN PRESENTATIONS
Larry Hoover: Stated that PD-30 will be discussed at the upcoming P&Z meeting, and
encouraged EDC-4B members to attend and voice support.
Neil Anderson: Stated his personal support for the Trophy Club Town Center opportunity.
Advocated the PD-30 plan as proposed.
REGULAR SESSION
1. Introduction of new Economic Development & Marketing Coordinator for Town of
Trophy Club, Alora Wachholz.
Stephen Seidel introduced the new ED & Marketing Coordinator for the Town, Alora Wachholz.
Alora Wachholz then further introduced herself and her work history briefly to the Board.
2. Discuss and provide direction regarding the upcoming Trophy Club Business Meet
and Greet.
Summary given of current progress in working toward the EDC 4B Business Meet & Greet by
Stephen Seidel and Alora Wachholz. Director Conn asked what kind of questions staff thinks they
may receive from attendees. Director Brod expressed desire to work together to determine the
talking points for the event. Request made by Director Conn to keep the objective for the event tight.
Discussion of potentially removing the Q&A portion of the event was brought up and decided as an
EDC 4B Board Page 9 of 16 Monday, February 10, 2014
agreeable idea. Director Shuman recommended staff set a date for a future meeting and announce it
at the February 20 event to keep momentum moving and this idea was decided as agreeable.
3. Update regarding Discover Trophy Club magazine.
PIO April Reiling announced a December launch of Discover Trophy Club advertising opportunities
is underway. She is currently accepting advertising requests and Trophy Club Realtors has already
taken on an ad identical to the one in the previous publication. April Reiling asked the Board and
members of the public audience to let her know if they have anyone who is interested in purchasing
ad space.
4. Discuss and take appropriate action regarding ICSC.
Update given sharing thoughts and impressions on the ICSC conference by members of the staff.
April Reiling first pointed out that the booth location this year was not as good as last year and there
was not as much traffic; however, the displays looked nice. She further explained that she noticed
there was some interest in the booth and that people generally enjoyed the maps they had available.
Stephen Seidel then stated he felt this year’s event was not as well-intended and there was not
much traffic. He pointed out that he had spent five hours speaking with Scott Beck. Seidel also had a
conversation with Catalyst. He expressed it was a very long but successful day, overall. President
Hicks pointed out the low event attendance and that he felt the booth was difficult to find. Asked will
the next conference be in Dallas or in San Antonio? Seidel said he felt the Dallas Convention Center
was not the best location although the conference will probably be there next year as well. The
Board and staff pointed out that having food and drinks were key to getting people to the booths.
Director Murray also stated he felt free items are important, although this topic was debated. Director
Brod then stated that the board and staff will have to ask themselves what the return on investment
is for attending the ICSC conference in the future. Seidel stated that he had noticed having the
conference local hurt local attendance.
5. Discuss and take appropriate action regarding Strategic Planning.
Discussion of the need to fine tune and edit the draft of Strategic Plan so that it can be presented to
Council headed by Stephen Seidel. A request by board member Brod to take Action Plan out of the
document and work with that separately was made and determined agreeable. A request for an
executive summary and cleanup the current draft was made by board member Conn and determined
agreeable. Discussion of need to shorten and simplify the document to be two pages in length was
had. Board member Brod addressed that the board must clean up the items in the Plan in which
EDC 4B cannot do. A public question was taken: ‘Where are we going to put all these businesses
that you are speaking about? It seems the board is negative on the Beck initiative and there is
limited space elsewhere to develop.’ Board member Weaver speaks against the statement that the
board is negative about the PD-30 idea. Emphasized that there is a need to make the right choices
for what currently exists, regardless of what is left to develop in the town. Request by Board that the
updated Strategic Plan information be Included in the Business Meet & Greet presentation on the
Feb. 20th event was determined agreeable.
6. Discuss and take appropriate action regarding a joint EDC 4B training session with
Roanoke.
The Board returned to this item after discussing item #7. Seidel stated he had spoken with Roanoke
about a potential upcoming training class the board would be able to attend. He asked if there is
interest from the board in attending. Director Shuman and President Hicks both said yes. Seidel
stated he will get dates and let the Board know.
7. Discuss and take appropriate action regarding the February EDC 4B meeting date.
EDC 4B Board Page 10 of 16 Monday, February 10, 2014
The Board jumped to this item from Item #5. Discussion was had about a potential reschedule date
for the 3rd, however this was disagreeable as it is a Council Meeting night. Discussion was had about
possibly the 13th. It was then determined agreeable to the board to keep the meeting on the 10th and
have Reiling and Wachholz conduct the meeting.
8. Discuss and take appropriate action regarding the October 14, 2013 Minutes.
Director Shuman made a motion to adopt the Minutes as presented. Director Murray seconded.
Unanimous vote was had to approve October minutes.
9. Assistant Town Manager Update:
- ADF
- Trophy Club Town Center
- The Plaza
- Trophy Wood
- Bobcat Village Center
- Logo
Seidel provided the Board updates and answered questions related to the above topics.
EXECUTIVE SESSION
10. 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 Board convened into Closed Executive Session at 8:50 PM.
The Board reconvened from Executive Session at 10:02 PM.
Adjourn
President Hicks moved to adjourn at 10:02 p.m. Director Weaver seconded. The motion passed
unanimously.
______________________________ _______________________________
James Hicks, President Dean Murray, Treasurer/Secretary
EDC 4B Board Page 11 of 16 Monday, February 10, 2014
100 Municipal Drive
Trophy Club, Texas 76262Trophy Club Entities
Legislation Details (With Text)
File #: Version:12014-932-T Name:
Status:Type:Agenda Item Regular Session
File created:In control:2/6/2014 Economic Development Corporation 4B (EDC 4B)
On agenda:Final action:2/10/2014
Title:Update and discussion regarding the upcoming Trophy Club Business Meet and Greet event.
Attachments:
Action ByDate Action ResultVer.
Update and discussion regarding the upcoming Trophy Club Business Meet and Greet event.
EDC 4B Board Page 12 of 16 Monday, February 10, 2014
100 Municipal Drive
Trophy Club, Texas 76262Trophy Club Entities
Legislation Details (With Text)
File #: Version:12014-937-T Name:
Status:Type:Agenda Item Regular Session
File created:In control:2/6/2014 Economic Development Corporation 4B (EDC 4B)
On agenda:Final action:2/10/2014
Title:Discuss and take appropriate action regarding Strategic Planning.
Attachments:EDC 4B Strategic Plan Draft.pdf
Action ByDate Action ResultVer.
Discuss and take appropriate action regarding Strategic Planning.
EDC 4B Board Page 13 of 16 Monday, February 10, 2014
_______________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
The mission of the Trophy Club EDC 4B is to proactively enact and support initiatives focused around specific key strategic priorities which
will encourage and foster the future economic strength and diversity of the community through the economic vitality of local busines s.
Invest directly in existing businesses
o Market availability of funds
o Enact shop local promotions and initiatives
o Provide broader regional marketing
o Help existing businesses better utilize regional
& State resources
o Initiate direct interaction between the EDC 4B
Directors and local businesses
Subsidize discounts and promotions
Create funding for Business Advisory Services
Utilize technology to provide better and more
effective ways to interact with the EDC 4B,
residents, customers, and businesses
o Update ED page on Town website
o Utilize social media
o Create ED email listserv and newsletter
Focus on Town aesthetics and capital
improvement opportunities
o Examine needed infrastructure which could
make doing business easier
o Determine beautification enhancements
o Enact signage changes and continued
revisions
Seek business options that appeal to residents
o Shops and stores that match Town
demographics
Sit-down restaurants
High-end sports bar
Grocery stores and markets
Family-friendly retailers
Quality convenience shops
Target business options that appeal regionally
o Destination shopping
o Entertainment venues
Uphold priorities of the Town
o Consider reputation of businesses
o Encourage local small business
o Support economic development that aligns
with the long-term vision of the Town
Offer TIF and/or other tax incentives
Provide or subsidize infrastructure
Encourage a business-friendly environment by
streamlining development requirements and
processes
o Seek ways to become more user friendly
o Analyze existing systems to determine more
expedient and simpler options
Assist brokers and developers with recruitment
o Provide merchandising analytics, trade area
information, and other data
o Plan meetings with brokers, developers, and
management companies to build relationships
Provide and encourage a welcoming forum for
potential economic development opportunities,
initiatives, inquiries, and best practice
information to be discussed
EDC 4B Board Page 14 of 16 Monday, February 10, 2014
100 Municipal Drive
Trophy Club, Texas 76262Trophy Club Entities
Legislation Details (With Text)
File #: Version:12014-933-T Name:
Status:Type:Agenda Item Regular Session
File created:In control:2/6/2014 Economic Development Corporation 4B (EDC 4B)
On agenda:Final action:2/10/2014
Title:Economic development projects update:
- Discover Trophy Club magazine
- Logo update
- Business Spotlight
- Shop Local program
- TIF Board
- ADF update
- Economic Climate Dashboard
- DFW Marketing Team
- Artisan Vapor
Attachments:
Action ByDate Action ResultVer.
Economic development projects update:
- Discover Trophy Club magazine
- Logo update
- Business Spotlight
- Shop Local program
- TIF Board
- ADF update
- Economic Climate Dashboard
- DFW Marketing Team
- Artisan Vapor
EDC 4B Board Page 15 of 16 Monday, February 10, 2014
100 Municipal Drive
Trophy Club, Texas 76262Trophy Club Entities
Legislation Details (With Text)
File #: Version:12014-934-T Name:
Status:Type:Agenda Item Regular Session
File created:In control:2/6/2014 Town Council
On agenda:Final action:2/10/2014
Title:PIO Updates:
- The Plaza
- Trophy Wood
- Trophy Club Town Center
Attachments:
Action ByDate Action ResultVer.
PIO Updates:
- The Plaza
- Trophy Wood
- Trophy Club Town Center
EDC 4B Board Page 16 of 16 Monday, February 10, 2014