Complete Agenda Packet - EDC-4B - August 5, 2020—I (:*:� Town of Trophy Club
TOWN OF Meeting Agenda
TROPHY
CLUB
Economic Development Corporation 413
(EDC 413)
Wednesday, August 5, 2020
6:00 PM
CALL TO ORDER AND ANNOUNCE A QUORUM
ZOOM VIDEOCONFERENCE
A quorum of the EDC 4B will be present through ZOOM Videoconference on
Wednesday, August 5, 2020 at 6:00 p.m.
(The Meeting is available through Facebook at www.facebook.com/trophyclubgov)
To speak on an item, you may email mayorandcouncil@trophyclub.org and include
your topic(s) on the subject line, which will be read by the Mayor.
To join the meeting via ZOOM:
The public toll -free dial -in numbers to participate in the telephonic meeting are:
877-853-5247 or 888-788-0099 US Toll -free and the Meeting ID: 883 7994 0871.
When your call is answered you will hear "Welcome to ZOOM, enter in the following
Meeting ID below followed by the pound sign (#)"
Meeting ID: 883 7994 0871#
CITIZEN PRESENTATIONS
Citizens are allowed four (4) 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. 2020-218-T Take appropriate action regarding the EDC 4B Regular Session Minutes dated December
16, 2019 (S. Norwood).
Attachments: (DRAFT) EDC 4B Minutes December 5 2019.pdf
2. 2020-219-T Take appropriate action regarding the proposed EDC 4B Budget for Fiscal Year 2021 (S.
Norwood).
Attachments: EDC FY21 Proposed Budget.pdf
ADJOURN
EDC 4B Meeting Page 1 of 8 August 5, 2020
Economic Development Corporation Meeting Agenda August 5, 2020
413 (EDC 413)
*THE CORPORATION 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 bulletin board at Trophy Club Town
Hall, 1 Trophy Wood Drive, Trophy Club, Texas, on Friday, July 31, 2020 by 5:00 P.M.
in accordance with Chapter 551, Texas Government Code.
Leticia Vacek, TRMC/CMC/MMC
Town Secretary/RMO
If you have a disability that requires special needs, please contact the Town
Secretary's Office at 682-237-2903 or 682-237-2905, 48 hours in advance and
reasonable accommodations will be made to assist you.
EDC 4B Meeting Page 2 of 8 August 5, 2020
Town of Trophy Club
Legislation Details (With Text)
File #: 2020-218-T Version: 1 Name:
Type:
Agenda Item Status: Draft
File created:
7/28/2020 In control: Economic Development Corporation 413 (EDC 413)
On agenda:
8/5/2020 Final action:
Title:
Take appropriate action regarding the EDC 413 Regular Session Minutes dated December 16, 2019
(S. Norwood).
Attachments:
(DRAFT) EDC 4B Minutes December 5 2019.pdf
Date
Ver. Action By Action Result
Take appropriate action regarding the EDC 413 Regular Session Minutes dated December 16, 2019 (S. Norwood).
EDC 413 Meeting Page 3 of 8 August 5, 2020
TOWN OF TROPHY CLUB
ECONOMIC DEVELOPMENT CORPORATION 4B MINUTES
THURSDAY, DECEMBER 5, 2019, 6:00 P.M.
LOCATION: 1 TROPHY WOOD DRIVE, TROPHY CLUB, TEXAS
TRAINING / EOC ROOM
The Economic Development Corporation (EDC) 4B of the Town of Trophy Club, Texas, met on Thursday, December
5, 2019. The meeting was held within the boundaries of the Town and was open to the public.
EDC 4B MEMBERS PRESENT:
Michael Richmond
President arrived at 6:16 p.m.
Chris Whipple
Secretary/Treasurer
Travis Inge
Director
Scott Haro
Director
Michael Clarke
Director
EDC 4B MEMBERS ABSENT:
Cory McDonald Vice President
Jared Hall Director
STAFF PRESENT:
Steve Norwood Town Manager
Wade Carroll Assistant Town Manager
Holly Fimbres Town Secretary
Secretary/Treasurer Whipple announced the date of Thursday, December 5, 2019, called the EDC 4B meeting to
order and announced a quorum at 6:08 p.m.
CITIZEN PRESENTATIONS
Citizens are allowed four (4) minutes to address the Corporation regarding an item over which the Corporation has
policy or oversight authority as provided by Texas law, the ethics order, or other policy order.
There were no citizen presentations.
REGULAR SESSION
1. Consider and take appropriate action regarding the appointment of the President (S. Norwood).
Motion:
Motion made by Director Inge, seconded by Secretary/Treasurer Whipple, to appoint Michael Richmond to serve
as the President.
Motion carried 4-0-0.
2. Consider and take appropriate action regarding the appointment of the Vice President (S. Norwood).
Motion:
Motion made by Director Inge, seconded by Secretary/Treasurer Whipple, to appoint Cory McDonald to serve as
the Vice President.
Motion carried 4-0-0.
EDC 4B Meeting Page 4 of 8 August 5, 2020
3. Consider and take appropriate action regarding the appointment of the Secretary/Treasurer (S. Norwood).
Motion:
Motion made by Director Inge, seconded by Director Haro, to appoint Chris Whipple to serve as the
Secretary/Treasurer.
Motion carried 4-0-0.
4. Consider and take appropriate action regarding the EDC 4B minutes dated June 26, 2019 (S. Norwood).
Motion:
Motion made by Director Inge, seconded by Secretary/Treasurer Whipple, to approve the EDC 4B minutes dated
June 26, 2019.
Motion carried 4-0-0.
5. Consider and take appropriate action regarding an Agreement with HG SPLY Trophy Club for the utilization
of property for additional parking; and authorize the EDC 4B President or his designee to execute all
necessary documents (S. Norwood).
Assistant Town Manager Carroll stated that the Town was approached by HG SPLY Trophy Club (HG SPLY) to allow
them to valet park patron's vehicles on Town owned property. The request was for approximately 50 to 60
parking spaces in a mixture of parking areas including parking identified as; Town Hall gravel lot (south of the Town
Hall building) and the Town Hall lot, north of Holiday Inn. Currently, Bread Winners Cafe utilizes approximately
half of the Town Hall gravel lot through a verbal agreement. HG SPLY was also requesting the opportunity to install
an improved parking area for golf cart parking in the grassy area between HG SPLY owned property and the Town
owned improved temporary parking lot constructed west of HG SPLY. The golf cart parking was required to be
similar in structure to the grasscrete golf cart parking at Meat U Anywhere.
(Town Secretary Note: President Richmond arrived at 6:16 p.m.)
Assistant Town Manager Carroll advised that in exchange for the allotted parking spaces HG SPLY was being asked
to add traffic flow marking to the driveway and approach assisting in the mitigation of traffic issues exiting the HG
SPLY lot onto Trophy Wood Drive. The agreement allows HG SPLY to utilize 35 of the 83 parking spots within the
Town Hall gravel lot and 32 of the available 53 parking spots in the Town Hall lot, north of Holiday Inn.
Additionally, all vehicles would be required to be moved prior to the closing of the valet services each night.
Director Inge inquired about installing a concrete splitter to have those exiting HG SPLY to turn right. Assistant
Town Manager Carroll responded that the approach in that area was not large to install concrete and meet the
necessary standards.
Town Manager Norwood pointed out that there was a provision in the agreement that allowed termination of the
agreement with a 90 day written notice.
Director Inge asked who would be responsible for any vehicle damage on Town property. Town Manager
Norwood responded that HG SPLY assumed all responsibility.
Director Haro inquired if the valet parking would be utilized seven days a week. Assistant Town Manager Carroll
confirmed it would be seven days a week.
Director Inge asked if there would be any issues if Bread Winners customers used the majority of parking in the
gravel lot at any given time. Assistant Town Manger Carroll responded that parking in the gravel lot would be first
come, first serve basis.
Secretary/Treasurer Whipple inquired if any signs would be installed. Assistant Town Manager Carroll responded
that they would probably put out cones to mark valet parking spaces.
EDC 4B Minutes December 5 2019 Page 2 of 3
EDC 4B Meeting Page 5 of 8 August 5, 2020
Director Clarke asked if HG SPLY intended the valet service to be short or long term. Assistant Town Manager
Carroll responded that had not been determined, but currently there was no room in their parking lot to have valet
parking.
Secretary/Treasurer Whipple questioned what HG SPLY was being charged to utilize the proposed parking spaces
for valet. Assistant Town Manager Carroll responded there was no charge but HG SPLY was being asked to add
traffic flow marking to the driveway and approach assisting in the mitigation of traffic issues exiting the HG SPLY lot
onto Trophy Wood Drive.
Director Clarke asked if there was a need to install a no left hand turn sign. Assistant Town Manager Carroll
responded that there was not enough room to install a sign before the right-of-way.
Director Clarke inquired if there was a Staff recommendation regarding this item. Assistant Town Manager Carroll
advised that Staff recommended approval of the agreement.
Motion:
Motion made by Director Inge, seconded by Director Haro, to approve an Agreement with HG SPLY Trophy Club for
the utilization of property for additional parking; and authorize the EDC 4B President or his designee to execute all
necessary documents.
Motion carried S-0-0.
6. Consider and take appropriate action regarding a Budget Amendment, amending the Fiscal Year 2018-2019
Budget of the Economic Development Corporation 4B; providing for an amendment to reflect early payoff
(S. Norwood).
Assistant Town Manager Carroll advised that on May 28, 2019, EDC 4B elected to enact an early payoff provision
within the Old Town Development contract, saving the EDC 4B budget $194,622.43 in overall interest. The total
early payout was $603,091.01, which was $331,745 greater than the budgeted amount within the Incentive
Programs line in the Fiscal Year 2018-2019 EDC 4B budget. This budget amendment would allocate money from
EDC 4B Fund Balance to true up the Incentive Programs line. The new estimated fund balance for EDC 4B will be
$95,030 and $302,950 by the close of Fiscal Year 2020.
Director Inge asked if the EDC 4B Budget that was in the agenda packet reflected the updated projections.
Assistant Town Manager Carroll confirmed that it did reflect the updated projections.
Motion:
Motion made by Director Inge, seconded by President Richmond, to approve an Amendment to the Fiscal Year
2018-2019 Budget of the Economic Development Corporation 46; providing for amendment to reflect early payoff.
Motion carried S-0-0.
ADJOURN
Secretary/Treasurer Whipple adjourned the meeting at 6:27 p.m.
Wade Carroll, Assistant Town Manager
Town of Trophy Club, Texas
Michael Richmond, President
Town of Trophy Club, Texas
EDC 4B Minutes December 5 2019 Page 3 of 3
EDC 4B Meeting Page 6 of 8 August 5, 2020
Town of Trophy Club
Legislation Details (With Text)
File #: 2020-219-T Version: 1 Name:
Type: Agenda Item Status: Draft
File created: 7/29/2020 In control: Economic Development Corporation 4B (EDC 4B)
On agenda: 8/5/2020 Final action:
Title: Take appropriate action regarding the proposed EDC 4B Budget for Fiscal Year 2021 (S. Norwood).
Attachments: EDC FY21 Proposed Budget.pdf
Date Ver. Action By Action Result
Take appropriate action regarding the proposed EDC 4B Budget for Fiscal Year 2021 (S. Norwood).
EDC 4B Meeting Page 7 of 8 August 5, 2020
EDC 4B
FY
ACTUAL
2018
FY 0 •
ACTUAL
APPROVED
ESTIMATED
PROPOSED
PROJECTED
Starting Net Position.,
Revenue
Sales Tax - General
$
449,003
$
497,487
$
486,224
$
487,178
$
490,000
$
499,800
NTX Magazine Revenue
-
-
-
-
-
-
Interest Income
8,298
5,454
4,000
-
4,000
4,080
Total Revenue
$
457,301
$
502,941
$
490,224
$
487,178
$
494,000
$
503,880
Expenses
Professional Outside Services
$
1,500
$
1,116
$
4,000
$
3,254
$
4,000
$
4,080
Auditing
1,000
2,000
4,000
41000
4,000
4,080
Advertising
377
3,895
35,000
-
35,000
35,700
Printing
-
34
200
-
200
204
Schools & Training
350
-
1,000
-
1,000
11020
Dues & Membership
-
-
1,200
1,000
11200
1,224
Travel & Per Diem
-
-
750
-
750
765
Office Supplies
-
25
200
-
200
204
Miscellaneous Expense
2,500
21501
4,000
2,500
4,000
4,080
EDC Projects
106,950
261,010
-
-
-
-
Incentive Programs
140,773
696,939
-
-
-
-
Transfer to General Fund
-
-
30,000
30,000
301000
30,600
Transfer to Debt Service
-
-
201,555
201,555
203,668
207,741
Bond Principal
-
-
-
-
-
-
Bond Interest
102,723
1,900
-
-
-
-
Debt Issue Cost
-
-
-
-
-
-
Paying Agent Fees
200
400
400
200
400
408
Total Expenses
$
356,373
$
969,820
$
282,305
$
242,509
$
284,418
$
290,106
Net Increase (Decrease)
$
100,928
$
(466,879)
$
207,919
$
244,669
$
209,582
$
213,774
PositionEnding Net
EDC 4B Meeting Page 8 of 8 August 5, 2020