November 29, 2021- Complete Agenda Packet - EDC 4-BTown of Trophy Club
Meeting Agenda
Economic Development
1 Trophy Wood Drive
Trophy Club, Texas 76262
November 29, 2021 6:00 PM Council Chambers
CALL TO ORDER AND ANNOUNCE A QUORUM
PUBLIC COMMENTS
This is an opportunity for citizens to address the Board on any matter. The Board is not
permitted to discuss or take action on any presentations made to the
Board. Presentations are limited to matters over which the Board has
authority. Speakers have up to four (4) minutes or the time limit determined by the
presiding officer. Each speaker must complete the Speaker’s Form that includes the
topic(s) to be presented. You may also email aotterson@trophyclub.org
REGULAR SESSION
1.Take appropriate action regarding the EDC 4B Regular Session Minutes dated July 7,
2021 (L. Vacek).
EXECUTIVE SESSION
2.Pursuant to the following designated sections of the Texas Government Code,
Annotated, Chapter 551 (Texas Open Meetings Act), the EDC 4B will convene into
executive session to discuss the following:
Section 551.087 – Deliberate the Economic Development Negotiations regarding a
commercial prospect within the Trophy Wood District (W. Carroll).
Potential Projects and Incentives
RECONVENE INTO REGULAR SESSION
3. Take appropriate action regarding Executive Session.
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.
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 Wednesday, November 24, 2021 by 5:00 P.M. in
accordance with Chapter 551, Texas Government Code.
_______________________________
Anita Otterson, Administrative Analyst
If you plan to attend this public meeting and have a disability that requires special needs,
please contact the Town Secretary’s Office at 6822372900, 48 hours in advance and
reasonable accommodations will be made to assist you.
Town of Trophy ClubMeeting AgendaEconomic Development 1 Trophy Wood DriveTrophy Club, Texas 76262November 29, 2021 6:00 PM Council ChambersCALL TO ORDER AND ANNOUNCE A QUORUMPUBLIC COMMENTSThis is an opportunity for citizens to address the Board on any matter. The Board is notpermitted to discuss or take action on any presentations made to theBoard. Presentations are limited to matters over which the Board hasauthority. Speakers have up to four (4) minutes or the time limit determined by thepresiding officer. Each speaker must complete the Speaker’s Form that includes thetopic(s) to be presented. You may also email aotterson@trophyclub.orgREGULAR SESSION1.Take appropriate action regarding the EDC 4B Regular Session Minutes dated July 7,2021 (L. Vacek).EXECUTIVE SESSION2.Pursuant to the following designated sections of the Texas Government Code,Annotated, Chapter 551 (Texas Open Meetings Act), the EDC 4B will convene intoexecutive session to discuss the following:Section 551.087 – Deliberate the Economic Development Negotiations regarding acommercial prospect within the Trophy Wood District (W. Carroll).Potential Projects and Incentives
RECONVENE INTO REGULAR SESSION
3. Take appropriate action regarding Executive Session.
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.
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 Wednesday, November 24, 2021 by 5:00 P.M. in
accordance with Chapter 551, Texas Government Code.
_______________________________
Anita Otterson, Administrative Analyst
If you plan to attend this public meeting and have a disability that requires special needs,
please contact the Town Secretary’s Office at 6822372900, 48 hours in advance and
reasonable accommodations will be made to assist you.
July 7, 2021 Page 1 of 2
TOWN OF TROPHY CLUB
ECONOMIC DEVELOPMENT CORPORATION-4B (EDC-4B)
July 7, 2021 Minutes
The Trophy Club EDC-4B met on Wednesday, July 7, 2021 at Town Hall, 1 Trophy Wood Drive with the following
present:
EDC-4B MEMBERS:
Michael Richmond President
Chris Whipple Secretary/Treasurer
Michael Clarke Director
Travis Inge Director
ABSENT:
Cory McDonald Director
Scott Haro Director
TOWN COUNCIL MEMBERS PRESENT:
Greg Lamont Mayor Pro Tem, Place 1
STAFF PRESENT:
Wade Carroll Town Manager
Leticia Vacek Town Governance Officer/RMO
Mike Erwin Finance Manager
CALL TO ORDER AND ANNOUCE A QUORUM
President Richmond called the meeting to order and noted a quorum of the EDC-4B Directors were present at
7:02pm.
PUBLIC COMMENT
President Richmond asked if there were citizens that had registered to speak. Town Governance Officer Vacek
confirmed none had registered.
1. Take appropriate action regarding the minutes of April 12, 2021. (L. Vacek)
Director Inge moved to approve the minutes of April 12, 2021 as submitted. Director Clarke seconded the motion.
The motion carried as follows:
AYE: Richmond, Whipple, Clarke, and Inge.
ABSENT: McDonald, Haro
2. Take appropriate action regarding the Fiscal Year 2022 EDC-4B Budget. (M. Erwin)
Mr. Mike Erwin presented the EDC-4B Fiscal Year 2022 Budget and made note of an obligation from 2014 that would
be taken care of. Additionally, he spoke to the addition of the 2021 Estimates in collections of $1.1 to $1.2M. He
explained the transfer to the General Fund that would equate to 7-10% of all contributing funds to cover staff’s
salaries.
July 7, 2021 Page 2 of 2
Mr. Erwin also mentioned the Trophy Table Restaurant Loan in which $241,285 in checks had been written showing
a remainder balance of $58,715. He stated that he was hopeful that in January, re-payments begin to be made.
Chairman Richmond asked if the loan was all for Trophy Table Restaurant. Mr. Erwin replied yes.
Mr. Clarke asked of the extra revenue coming in and where it was derived. Mr. Erwin noted that many Trophy Club
residents have been utilizing online shopping and that was one of the sources. He added that the state tax collections
had been tightened-up to collect out of state tax on items sold. Mr. Inge asked of the miscellaneous amount of
$64,000. Mr. Erwin replied that said amount was for the Easement sold to the Municipal Utility District (MUD). A
brief discussion ensued concerning Advertising in which Mr. Carroll spoke to the annual video that is produced for
the Chamber to utilize. He added that staff also wanted to help kick-start the new TC Businesses. Mr. Inge asked
that staff also look at using said funds for retention of current businesses.
Chairman Richmond moved to approve the FY2022 EDC-4B Budget. Director Inge seconded the motion. The motion
carried as follows:
AYE: Richmond, Whipple, Clarke, and Inge.
ABSENT: McDonald, Haro
EXECUTIVE SESSION
3. Pursuant to the following designated section of the Texas Government Code, Annotated, Chapter 551 (Texas
Open Meetings Act); the EDC 4B will recess into executive session to discuss the following:
a) Section 551.087 Economic Development – Deliberate negotiations regarding commercial prospects.
President Richmond recessed the meeting at 6:14 pm into executive session to address the foregoing item.
4.Reconvene Into Regular Session – Take appropriate action regarding Executive Session
President Richmond reconvened the meeting at 6:49 pm from executive session and stated that no action would be
taken.
ADJOURN
President Richmond adjourned the meeting.
__________________________________ ___________________________________
Leticia Vacek, TRMC/CMC/MMC Michael Richmond, EDC-4B President
Town Governance Officer/RMO Town of Trophy Club, Texas