July 7, 2021 - Complete Agenda Packet - EDC-4BTown of Trophy Club
Meeting Agenda
Economic Development
1 Trophy Wood Drive
Trophy Club,Texas 76262
July 07,2021 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 mayorandcouncil@trophyclub.org
REGULAR SESSION
1.Take appropriate action regarding the EDC-4B Meeting Minutes held April 12,2021.L.
Vacek)
2.Take appropriate action regarding the FY 2022 EDC-4B Budget.M.Erwin)
EXECUTIVE SESSION
3.Executive Session pursuant to the following designated sections of the Texas
Government Code,Annotated,Chapter 551 Texas Open Meetings Act).
Section 551.087 Economic Development Deliberate negotiations regarding
commercial prospects.
RECONVENE INTO REGULAR SESSION
4.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 Friday,July 2,2021 by 5:00 P.M.in accordance
with Chapter 551,Texas Government Code.
Sharon David,Records 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 682-237-2900,48 hours in advance and
reasonable accommodations will be made to assist you.
Town of TrophyClubMeetingAgendaEconomicDevelopment 1 Trophy WoodDriveTrophyClub,Texas76262July07,2021 6:00 PM CouncilChambersCALLTOORDERANDANNOUNCEAQUORUMPUBLICCOMMENTSThisisanopportunityforcitizenstoaddresstheBoardonanymatter.The Board isnotpermittedtodiscussortakeactiononanypresentationsmadetotheBoard.Presentations are limited to matters over which the Board has authority.Speakershaveuptofour4)minutes or the time limit determined by the presiding officer.EachspeakermustcompletetheSpeaker’s Form that includes the topic(s)to be presented.Youmayalsoemailmayorandcouncil@trophyclub.orgREGULARSESSION1.Take appropriate action regarding the EDC-4B Meeting Minutes held April 12,2021.L.Vacek)2.Take appropriate action regarding the FY 2022 EDC-4B Budget.M.Erwin)EXECUTIVESESSION3.Executive Session pursuant to the following designated sections of theTexasGovernmentCode,Annotated,Chapter 551 Texas Open Meetings Act).Section 551.087 Economic Development Deliberate negotiationsregardingcommercialprospects.
RECONVENE INTO REGULAR SESSION
4.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 Friday,July 2,2021 by 5:00 P.M.in accordance
with Chapter 551,Texas Government Code.
Sharon David,Records 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 682-237-2900,48 hours in advance and
reasonable accommodations will be made to assist you.
April 12, 2021 Page 1 of 2
TOWN OF TROPHY CLUB
ECONOMIC DEVELOPMENT CORPORATION-4B (EDC-4B)
April 12, 2021 Minutes
The Trophy Club EDC-4B met on Monday, April 12, 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
Scott Haro Director (entered the meeting when recessed)
ABSENT:
Cory McDonald Director
TOWN COUNCIL MEMBERS PRESENT:
Alicia L. Fleury Mayor
Greg Lamont Mayor Pro Tem, Place 1
STAFF PRESENT:
Steve Norwood Town Manager
Leticia Vacek Town Secretary/RMO
David Dodd Town Attorney
ALSO PRESENT:
Kevin von Ehrenfried Restaurant Operator
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.
PUBLIC COMMENT
President Richmond asked if there were citizens that had registered to speak. Town Secretary Vacek confirmed that
none had registered.
1. Take appropriate action regarding the minutes of March 23, 2021. (L. Vacek)
Director Inge moved to approve the minutes of March 23, 2021 as submitted. Director Whipple seconded the
motion. The motion carried unanimously as follows:
AYE: Richmond, Whipple, Clarke, and Inge.
ABSENT: McDonald, Haro
EXECUTIVE SESSION
2. 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:
April 12, 2021 Page 2 of 2
a) Section 551.087 Economic Development – Discussion of an Economic Development Agreement for a Loan
and Grant with Trophy Table Restaurant to be located at 3000 TX-114, Trophy Club, Texas (S. Norwood)
President Richmond recessed the meeting at 5:14 pm into executive session to address the foregoing item.
RECONVENE INTO REGULAR SESSION
President Richmond reconvened the meeting at 5:38 pm from executive session.
Director Inge moved to recommend the approval of an EDC-4B Grant of $100,000 and a Repayable Loan Agreement
of up to $200,000 to Trophy Table Restaurant with the addition and attachment of the Loan Amortization Schedule,
subject to approval by Town Council. Director Haro seconded the motion. The motion carried as follows:
AYE: Richmond, Whipple, Inge, and Haro
NAY: Clarke
ABSENT: McDonald
ADJOURNMENT
President Richmond adjourned the meeting at 5:39 pm.
Leticia Vacek, TRMC/CMC/MMC Michael Richmond, EDC-4B President
Town Secretary/RMO Town of Trophy Club, Texas
TOWN OF TROPHY CLUB, TEXAS
Annual Program of Services
EDC 4B FY 2019
ACTUAL
FY 2020
APPROVED
FY 2020
ACTUAL
FY 2021
AMENDED
BUDGET
FY 2021
ESTIMATE
FY 2022
PROPOSED
FY 2023
PROJECTED
FY 2024
PROJECTED
Starting Net Position 636,691$ 331,798$ (32,312)$ 365,706$ 365,706$ 206,553$ 561,243$ $ 924,500
Revenue
Sales Tax - General $ 497,487 $ 486,224 $ 575,821 $ 525,000 $ 600,942 $ 600,000 $ 612,000 $ 624,240
NTX Magazine Revenue - - - - - - - -
Interest Income 5,454 4,000 - 4,000 0 4,080 4,162 4,245
Miscellaneous Revenue - - 64,106 - - 53,625 52,625 51,625
Total Revenue 502,941$ 490,224$ 639,927$ 529,000$ 600,942$ 657,705$ 668,787$ 680,110$
Expenses
Professional Outside Services $ 1,116 $ 4,000 $ 3,254 $ 4,000 $ 4,000 $ 15,000 $ 15,300 $ 15,606
Auditing 2,000 4,000 4,000 4,000 4,000 5,000 5,100 5,202
Advertising 3,895 35,000 - 35,000 15,506 35,000 35,700 36,414
Printing 34 200 - 200 100 200 204 208
Schools & Training - 1,000 - 1,000 1,000 1,000 1,020 1,040
Dues & Membership - 1,200 - 1,200 1,200 1,200 1,224 1,248
Travel & Per Diem - 750 - 750 500 750 765 780
Office Supplies 25 200 - 200 200 200 204 208
Miscellaneous Expense 2,501 4,000 2,500 4,000 2,000 4,000 4,080 4,162
EDC Projects - - - - - - - -
Incentive Programs 696,940 - - - 297,722 - - -
Transfer to General Fund/DSR - 30,000 30,000 30,000 230,000 40,000 40,000 40,000
Transfer to Debt Service 99,023 201,555 - 203,668 203,668 200,257 201,518 202,263
Bond Principal - - 96,555 - - - - -
Bond Interest 1,900 - 105,000 - - - - -
Debt Issue Cost - - - - - - - -
Paying Agent Fees 400 400 600 400 200 408 416 424
Total Expenses 807,834$ 282,305$ 241,909$ 284,418$ 760,095$ 303,015$ 305,531$ 307,556$
Net Increase (Decrease)(304,893)$ 207,919$ 398,018$ 244,582$ (159,153)$ 354,690$ 363,256$ 372,554$
Ending Net Position $ 331,798 $ 539,718 $ 365,706 $ 610,289 $ 206,553 $ 561,243 $ 924,500 $ 1,297,055