Agenda Packet EDC 4B 05/12/2014Economic Development Corporation 4B
(EDC 4B)
Trophy Club Entities
Meeting Agenda
100 Municipal Drive
Trophy Club, Texas 76262
Svore Municipal Building Boardroom7:00 PMMonday, May 12, 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
1.2014-1144-T Discuss and take appropriate action regarding the March 2014 Financials.
March 4B Financial Report.pdfAttachments:
2.2014-1145-T Discuss and take appropriate action regarding the April 14, 2014 Minutes.
004 April 14 2014 Minutes.pdfAttachments:
3.2014-1146-T Recognition of current Business Spotlight partner.
4.2014-1147-T Discuss and take appropriate action regarding the upcoming Focus on
Business event.
5.2014-1148-T Discuss FY15 budget initiatives and projects.
6.2014-1149-T Assistant Town Manager Update:
- Trophy Wood
- Trophy Club Town Center
- The Plaza
- Village Centre
- The Village
- Shop Local Programs
- Blue Highway Signs
- Business Spotlight
*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.
EDC 4B Board Page 1 of 12 Monday, May 12, 2014
May 12, 2014Economic 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 Friday, May 9, 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 12 Monday, May 12, 2014
100 Municipal Drive
Trophy Club, Texas 76262Trophy Club Entities
Legislation Details (With Text)
File #: Version:12014-1144-T Name:
Status:Type:Agenda Item Regular Session
File created:In control:5/8/2014 Economic Development Corporation 4B (EDC 4B)
On agenda:Final action:5/12/2014
Title:Discuss and take appropriate action regarding the March 2014 Financials.
Attachments:March 4B Financial Report.pdf
Action ByDate Action ResultVer.
Discuss and take appropriate action regarding the March 2014 Financials.
EDC 4B Board Page 3 of 12 Monday, May 12, 2014
TOWN OF TROPHY CLUB
MID-YEAR FINANCIAL REPORT
ECONOMIC DEVELOPMENT COPORATION 4B
YEAR TO DATE MARCH 50%
Revenue Original
Budget
Revised
Budget Year to Date Variance % Received
Sales Tax 305,000$ 305,000$ 147,691$ 157,309$ 48%
Interest Income 100 100 - 100 0%
Miscellaneous - - 3,938 (3,938) 100%
Total Revenue 305,100$ 305,100$ 151,628$ 153,472$ 50%
Expenditures Original
Budget Revised Budget Year to Date Variance % Used
Auditing 1,000$ 1,000$ -$ 1,000$ 0%
Advertising 16,500 16,500 250 16,250 2%
Printing 1,000 1,000 - 1,000 0%
Schools & Training 2,320 2,320 1,430 890 62%
Dues & Membership 600 600 450 150 75%
Travel & Per diem 3,226 3,226 52 3,174 2%
Office Supplies 1,000 1,000 121 879 12%
Miscellaneous Expense 6,750 6,750 3,300 3,450 49%
Capital EDC Projects 50,744 50,744 15,764 34,980 31%
Total Expenditures 83,140$ 83,140$ 21,367$ 61,773$ 26%
Other Uses Original
Budget
Revised
Budget Year to Date Variance % Used
Transfer to General Fund 71,996$ 71,996$ 32,366$ 39,630$ 45%
Transfer to Debt Service 54,964 54,964 27,482 27,482 50%
Total Other Uses 126,960$ 126,960$ 59,848$ 67,112$ 47%
Fund Balance Original
Budget
Revised
Budget Year to Date
Beginning Fund Balance 167,530$ 167,530$ 188,704$
+Net Increase (Decrease)95,000 95,000 70,413
Ending Fund Balance 262,530$ 262,530$ 259,117$
Percent of Budget Year Transpired
From FY 2013 CAFR
EDC 4B Board Page 4 of 12 Monday, May 12, 2014
100 Municipal Drive
Trophy Club, Texas 76262Trophy Club Entities
Legislation Details (With Text)
File #: Version:12014-1145-T Name:
Status:Type:Agenda Item Regular Session
File created:In control:5/8/2014 Economic Development Corporation 4B (EDC 4B)
On agenda:Final action:5/12/2014
Title:Discuss and take appropriate action regarding the April 14, 2014 Minutes.
Attachments:004 April 14 2014 Minutes.pdf
Action ByDate Action ResultVer.
Discuss and take appropriate action regarding the April 14, 2014 Minutes.
EDC 4B Board Page 5 of 12 Monday, May 12, 2014
MINUTES OF REGULAR SESSION FOR THE
ECONOMIC DEVELOPMENT CORPORATION 4B BOARD
LOCATION: 100 MUNICIPAL DRIVE, TROPHY CLUB, TEXAS
Monday, April 14, 2014
7:00 p.m.
STATE OF TEXAS
COUNTY OF DENTON
The Economic Development Corporation 4B of the Town of Trophy Club, Texas, met in Regular
Session on April 14, 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
Sean Weaver Director
Dave Brod Director
Greg Wilson Director
Dean Murray Director
STAFF AND GUEST(S) PRESENT:
Stephen Seidel Assistant Town Manager
Alora Wachholz Economic Development & Marketing Coordinator
Call to order and announce a quorum at 7:03 p.m.
CITIZEN PRESENTATIONS
REGULAR SESSION
1. Discuss and take appropriate action regarding the February 2014 Financials.
Director Shuman made a motion to approve the Financials as presented and Director Brod
seconded. The motion passed unanimously.
2. Discuss and take appropriate action regarding the March 10, 2014 Minutes.
Director Shuman made a motion to approve the March 10, 2014 Minutes as presented and
Director Brod seconded. The motion passed unanimously.
3. Discuss and take appropriate action regarding the July 8, 2013 Minutes.
Director Shuman made a motion to approve the July 8, 2013 Minutes as presented and Director
Brod seconded. Director Wilson abstained from voting, as he was not serving on the EDC 4B
Board at the time of this previous meeting. The motion passed unanimously.
4. Discuss and take appropriate action regarding the May 14, 2014 Business Meet &
Greet event.
Assistant Town Manager Stephen Seidel provided an overview of the planning process for the
May 14, 2014 Business Meet & Greet event at this time.
5. Overview and discussion of the Alliance Development Forum (ADF) event on
March 28, 2014.
EDC 4B Board Page 6 of 12 Monday, May 12, 2014
Assistant Town Manager Seidel said that the feedback he has received from the event has been
really positive. He also said that Hershel Walker was a great keynote speaker and briefly
summarized the message behind his presentation.
6. Discuss and take appropriate action regarding the Shop Local Programs.
Assistant Town Manager Seidel provided a brief overview of the Shop Local Programs Policy
Draft changes, based on previous feedback and discussions with the Board. He requested
direction regarding keeping the Town-sponsored Shop Local Programs for brick-and-mortar
businesses only for the beginning of the program and then perhaps expanding from there.
Director Murray requested consideration to include residential businesses in the Programs who
pay sales tax to the Town in the future. Director Brod recommended that a change to bullet
number three under details section be made to accommodate future inclusion of residential
business in the Shop Local Programs. Director Weaver recommended a reevaluation of the
Policy in 90 days from the start of the Business Spotlight Program. Director Wilson motioned to
adopt the Policy with the change requested by Director Brod and a reevaluation in August 2014,
and Director Brod seconded. The motion passed with 5 Directors voting in favor of the Policy
adoption and one non-vote by Director Murray.
7. Discuss and take appropriate action regarding participation in the International
Council of Shopping Centers (ICSC) Conference on November 12-14, 2014.
Assistant Town Manager Seidel asked if the Board wish to participate with the other Chamber
cities as in years’ past for the ICSC Conference, or if they preferred to do something different
this year by partnering only with Haslet. President Hicks mentioned that last year the traffic was
not that significant to the booth. Directors Brod and Murray stated they felt the Conference may
be a good place and time to invite the PD-30 developer to market his property and it would help
to promote Trophy Club as a business-friendly environment. Assistant Town Manager Seidel
was requested to bring this idea up to the PD-30 developer and see if he has an interest in
assisting to sponsor attendance at the Conference.
8. Discuss and take appropriate action regarding the LoneStar Logos & Signs Blue
Highway Sign Program.
Assistant Town Manage Seidel provided an update as to the current status of having TxDOT
blue highways signs installed on SH 114 to promote eligible local businesses in Town. He
explained an opportunity for the EDC 4B Board to assist these businesses with the installation
fee for these signs. Discussion was had as to what level the Board wished to subsidize
installation fees. Director Murray made a motion to approve presented Option 1, which provides
that the EDC 4B Board would subsidize installation and printing costs but no annual fees for
participating businesses, Director Wilson seconded. The motion passed unanimously.
9. Assistant Town Manager Update:
- Trophy Wood
- Trophy Club Town Center
- The Plaza
- Village Center
- The Village
Assistant Town Manager Stephen Seidel and Economic Development & Marketing Coordinator
Alora Wachholz provided updates and answered questions related to the topics above.
*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.
EDC 4B Board Page 7 of 12 Monday, May 12, 2014
Adjourn
Director Brod made a motion to adjourn at 8:28 p.m. and Director Weaver seconded. The
motion passed unanimously.
______________________________ _______________________________
James Hicks, President Dean Murray, Treasurer/Secretary
EDC 4B Board Page 8 of 12 Monday, May 12, 2014
100 Municipal Drive
Trophy Club, Texas 76262Trophy Club Entities
Legislation Details (With Text)
File #: Version:12014-1146-T Name:
Status:Type:Agenda Item Regular Session
File created:In control:5/8/2014 Economic Development Corporation 4B (EDC 4B)
On agenda:Final action:5/12/2014
Title:Recognition of current Business Spotlight partner.
Attachments:
Action ByDate Action ResultVer.
Recognition of current Business Spotlight partner.
EDC 4B Board Page 9 of 12 Monday, May 12, 2014
100 Municipal Drive
Trophy Club, Texas 76262Trophy Club Entities
Legislation Details (With Text)
File #: Version:12014-1147-T Name:
Status:Type:Agenda Item Regular Session
File created:In control:5/8/2014 Economic Development Corporation 4B (EDC 4B)
On agenda:Final action:5/12/2014
Title:Discuss and take appropriate action regarding the upcoming Focus on Business event.
Attachments:
Action ByDate Action ResultVer.
Discuss and take appropriate action regarding the upcoming Focus on Business event.
EDC 4B Board Page 10 of 12 Monday, May 12, 2014
100 Municipal Drive
Trophy Club, Texas 76262Trophy Club Entities
Legislation Details (With Text)
File #: Version:12014-1148-T Name:
Status:Type:Agenda Item Regular Session
File created:In control:5/8/2014 Economic Development Corporation 4B (EDC 4B)
On agenda:Final action:5/12/2014
Title:Discuss FY15 budget initiatives and projects.
Attachments:
Action ByDate Action ResultVer.
Discuss FY15 budget initiatives and projects.
EDC 4B Board Page 11 of 12 Monday, May 12, 2014
100 Municipal Drive
Trophy Club, Texas 76262Trophy Club Entities
Legislation Details (With Text)
File #: Version:12014-1149-T Name:
Status:Type:Agenda Item Regular Session
File created:In control:5/8/2014 Economic Development Corporation 4B (EDC 4B)
On agenda:Final action:5/12/2014
Title:Assistant Town Manager Update:
- Trophy Wood
- Trophy Club Town Center
- The Plaza
- Village Centre
- The Village
- Shop Local Programs
- Blue Highway Signs
- Business Spotlight
Attachments:
Action ByDate Action ResultVer.
Assistant Town Manager Update:
- Trophy Wood
- Trophy Club Town Center
- The Plaza
- Village Centre
- The Village
- Shop Local Programs
- Blue Highway Signs
- Business Spotlight
EDC 4B Board Page 12 of 12 Monday, May 12, 2014