Minutes EDC 4B 04/10/2006MINUTES OF WORKSHOP/REGULAR SESSION
ECONOMIC DEVELOPMENT CORPORATION 4B
TOWN OF TROPHY CLUB
APRIL 10, 2006
6:30 P.M.
STATE OF TEXAS
COUNTY OF DENTON
The Economic Development Corporation 4B of the Town of Trophy Club, Texas, met in a Workshop/Regular
Session on April 10, 2006. The meeting was held within the boundaries of the Town and was open to the public.
DIRECTORS PRESENT:
James Hicks
Doyle Nicholson
Damian Olthoff
Rebecca Shuman
Larry E. Crosser
Ralph Scoggins
DIRECTORS ABSENT:
Bill Devlin
STAFF AND GUEST (S) PRESENT:
Sharon Huppert
Roger Unger
Pam Cates
President
Vice -President
Secretary
Director Arrived Late -7:05p
Director
Director
Treasurer
EDC Clerk
Staff Liaison
Council Member
WORKSHOP SESSION
CALL TO ORDER AND ANNOUNCE A QUORUM.
2. DISCUSSION OF REGULAR AGENDA ITEMS.
3. ADJOURN WORKSHOP SESSION.
REGULAR SESSION
1. CALL TO ORDER AND ANNOUNCE A QUORUM.
President Hicks called the Workshop/Regular Session to order at 6:43 p.m., and announced that there
was a quorum.
2. DISCUSS AND TAKE APPROPRIATE ACTION TO FUND CURRENT YEAR BUDGET WITH
RESPECT TO PARKS OPERATING EXPENSE.
Roger Unger stated that it was requested by the Board that he return and discuss approximately $8,000
in funding operating expenses at Harmony Park. Larry Crosser made a motion that we make payment
to the Council in the amount of $7303 to be disbursed due to the fact that we agreed to fund this
amount in the past. Director Nicholson seconded the motion and it passed unanimously.
3. DISCUSSION AND UPDATE ON POTENTIAL HOTEL USER ON 16 -ACRE TRACT.
Roger Unger updated the Board. He stated the principle and broker of the 16 -acre tract brought in a
group, Value Group Inns and have a contingent contract on an extended stay hotel. The Group has
asked to make a presentation to the Council and further that with a request on incentives from the
EDC4B.
4. PROJECT(S) UPDATES/STATUS.
Board Member Shuman stated that Radio Shack is vacating the Regency Center.
ECONOMIC DEVELOPMENT CORPORATION 4B
APRIL 10, 2006
Page Two
5. DISCUSSION AND APPROPRIATE ACTION FOR STRATEGIC PLANNING.
Director Shuman led a discussion on how to proceed with the Board's plan and strategy for spending
dollars and various requests for funding. President Hicks stated that he would send Adam Adams an
email that the Board is interested in revenue generating ideas. Director Shuman suggested that we put
together a list of ideas and the group deciding as a united body the projects EDC413 is interested in
funding.
A discussion was held in regards to professional Town staff attendance at EDC4B meetings and
reimbursement of their administrative costs.
SHARON -Send Board sub committee contact info of Marshall Creek Board and chairman name.
6. APPROVAL OF FINANCIAL STATEMENTS.
Director Shuman requested that the February and March financial statements are tabled until the next
scheduled meeting.
7. APPROVAL OF MEETING MINUTES.
Director Shuman made a motion to approve the meeting minutes as amended. Director Crosser
seconded the motion and it passed unanimously.
8. OTHER BUSINESS.
A discussion was held in regards to an email written by President Hicks dated April 10, 2006. Council
Member Pam Cates made comments.
Roger Unger updated the Board on DR Horton.
9. ADJOURN REGULAR SESSION.
Director Scoggins made a motion to adjourn at 8:20 p.m. Director Crosser seconded the motion and it
passed unanimously.
Jim Hicks Damian Olthoff