Minutes EDC 4B 02/11/2008MINUTES OF REGULAR SESSION
ECONOMIC DEVELOPMENT CORPORATION 4B
TOWN OF TROPHY CLUB
FEBRUARY 11, 2008
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 Regular
Session on February 11, 2008. The meeting was held within the boundaries of the Town and was
open to the public.
DIRECTORS PRESENT:
James Hicks
Damian Olthoff
Larry E. Crosser
Glenn Strother
Rebecca Shuman
DIRECTORS ABSENT:
Philip Sterling
STAFF AND GUEST(S) PRESENT:
Stephen Seidel
Shannon DePrater
Adam Adams
Neil Twomey
Melissa Klauss
Daniel Bishop
Dave Glaser
President
Secretary
Treasurer
Director
Director
Council Liaison
Assistant Town Manager
Deputy Town Secretary
Parks and Recreation Director
Director, EDC 4A
Applicant
Applicant
Applicant
A.1 Call to order and announce a quorum.
President Hicks, noting a quorum of EDC 4B, called the regular session to order at 6:33 p.m.
President Hicks moved item B.4 forward.
6.4 Other Business:
A. Joint Meeting with EDC A regarding Pool Bond Funding.
EDC 4A Director Twomey addressed the Board. Director Twomey made an update regarding
the status of the Parks and current projects of EDC 4A. EDC 4A may issue a bond to fund capital
improvements.
At the last EDC 4A meeting, two items came up: percentage of pool bond payment and
harmony park improvements. Current EDC 4A funding projects would limit EDC 4A's access to
only obtaining a one million dollar bond for capital park improvements. Fifteen years remain on
the pool bond and nine years for harmony park loan.
EDC 4A would like to have a joint meeting with EDC 4B regarding budgetary items. EDC 4A
would like to know if EDC 4A, EDC 4B and Town will split the cost for effluent water system for
harmony park irrigation and if EDC 4A will be funding 100 percent of the pool bond payment.
A.2 Discuss and take appropriate action regarding the Dallas Area Chamber Economic
Development Guide advertisement renewal.
Assistant Town Manager Stephen Seidel gave a brief update on the Dallas Economic
Development Guide. The Board has previously advertised and Seidel would like to know if the
Board is still interested. This expense is budgeted. The editor will try to place our ad next to
Southlake's ad.
Director Crosser moved to proceed with the ad. Director Strother would like to include the web
site address. Director Strother seconded; motion carried.
Stephen Seidel gave a brief update regarding the Board's previous Buxton Study questions;
Solana Business Complex population was included in the study. Filters used in the study included
Buxton Urban Density Score (BUDS) and population density. Branding and marketing assistance
is very important; it definitely has an impact on how communities are perceived by the
prospect. A strong branding strategy helps you 'stand out' among the competition.
President Hicks asked about a Buxton Update for MUD 1. Seidel stated that an update would be
given at MUD 1's March meeting. President Hicks said he would attend the meeting.
A.3 Discuss and take appropriate action to approve a bank resolution amending authorized
representatives on First Financial Bank and Texpool signature accounts.
Director Olthoff made a motion to approve the bank resolution amending authorized
representatives on First Financial Bank and Texpool signature accounts. Director Shuman
seconded; motion carried unanimously.
A.4 Interview candidates for two (2) expired seats:
a. 7:00 p.m. - Ms. Melissa Klauss
b. 7:15 p.m. or immediately following previous applicant - Mr. Dave Glaser
C. 7:30 p.m. or immediately following previous applicant - Mr. Dan. Bishop
The Board interviewed each candidate.
A.5 Discuss and take appropriate action regarding a recommendation to the Town Council
of candidates for two (2) expired seats on EDC4B.
Discussion ensued regarding the candidates.
The Board took a five-minute break at 8:34 p.m.
Director Olthoff made a motion to recommend the appointment of Dan Bishop to the term
expiring in 2008 and Dave Glaser to the term expiring in 2009. Director Crosser seconded; motion
carried unanimously.
President Hicks will attend the February 18th Town Council to present the nomination to the
Council.
A.6 Discuss and take appropriate action necessary for preparation of the 2008 ICSC Regional
Meeting. ,
The Board directed staff to move forward with making reservations at a different hotel and wait
to hear from Emily Morgan.
B.1 Staff Updates:
A. Trophy Club Park Grant
EDC B Regular Session Page 2 of 3
February 11, 2008 Minutes
Adam Adams updated the Board and answered questions from the Board members. Trophy
Club Park will hold a Grand Opening Event on March 15, 2008.
B.2 Approval of Minutes:
A. January 14, 2008 Regular Session
Director Shuman made a motion to approve the January 14, 2008 Regular Session as amended.
Director Strother seconded; motion carried unanimously.
Amendments include:
Director Crosser stated maybe Trophy Club's tag line needs to be developed to help
identify Trophy Club's location.
President Hicks agreeds with Director Strother and believes the Board is more focused on
creating a developer's packet rather than working on branding.
B.3 Approval of Financials:
A. November 2007
B. December 2007
Director Crosser updated the Board.
Director Strother made a motion to approve the November 2007 and December 2007 financials
as presented. Director Shuman seconded; motion carried unanimously.
B.5 Items for Future Agendas.
The Board asked that the following items be added to the list of future agenda items:
• Begin discussion regarding the Dallas Area Chamber Ad in October 2008
• Increase budget for advertising opportunities
• Discuss utilizing a EDC B listserve, marquee welcoming new businesses and website
• Facilitator for Stage 2 of planning work session
• Identifying major segments of Buxton Study and figure out how to reach and educate
various Trophy Club groups
• Joint Use information
B.6 Discuss and take appropriate action regarding meeting schedule for March 2008.
A. Regular Session on March 10, 2008 at 6:30 p.m.
B. Joint Meeting with EDC 4A on March 24, 2008 at 6:30 p.m.
The Board decided to meet on March 10, 2008 with emphasis on .the budget to prepare for the
March 24, 2008 Joint Session with EDC 4A.
C.1 Adjourn regular session.
Director Strother made a motion to adjourn at 10:00 p.m. Director Olthoff seconded; motion
carried unanimously.
Jim Hicks, President
EDC B Regular Session
February 11, 2008 Minutes
Damian Olthoff, Secret
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