Agenda Packet 07/14/2022NOTICE IS HERWEBY Town of Trophy Club
Meeting Agenda
Economic Development
1 Trophy Wood Drive
Trophy Club, Texas 76262
July 14, 2022 7:00 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
CONSENT AGENDA
1.Consider and take appropriate action regarding the EDC 4B Regular Session Minutes
dated May 2, 2022 (W. Carroll).
REGULAR SESSION
2.Conduct a Public Hearing regarding the proposed EDC 4B Budget for Fiscal Year 2022
2023.
3.Take appropriate action regarding the proposed EDC 4B Budget for Fiscal Year 2023 (W.
Carroll).
EXECUTIVE SESSION
4.Pursuant to the following designated sections of the Texas Governmental Code,
Annotated, Chapter 551 (Texas Open Meetings Act), the Trophy Club Economic
Development Corporation 4B will convene into Executive Session to discuss the
following:
Section 551.087 – To discuss or deliberate Economic Development Negotiations
regarding prospective commercial projects within the Town of Trophy Club.
RECONVENE INTO REGULAR 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.
NOTICE IS HEREBY GIVEN THAT A QUORUM OF THE TOWN OF TROPHY CLUB TOWN COUNCIL
MAY BE IN ATTENDANCE AT THIS MEETING. THE TOWN COUNCIL WILL NOT DELIBERATE OR TAKE
ANY ACTION.
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 Monday, July 11, 2022 by 5:00 P.M. in
accordance with Chapter 551, Texas Government Code.
_______________________________
Anita Otterson, Town Secretary
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.
NOTICE IS HERWEBY Town of Trophy ClubMeeting AgendaEconomic Development 1 Trophy Wood DriveTrophy Club, Texas 76262July 14, 2022 7:00 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.orgCONSENT AGENDA1.Consider and take appropriate action regarding the EDC 4B Regular Session Minutesdated May 2, 2022 (W. Carroll). REGULAR SESSION2.Conduct a Public Hearing regarding the proposed EDC 4B Budget for Fiscal Year 20222023.3.Take appropriate action regarding the proposed EDC 4B Budget for Fiscal Year 2023 (W.Carroll).
EXECUTIVE SESSION
4.Pursuant to the following designated sections of the Texas Governmental Code,
Annotated, Chapter 551 (Texas Open Meetings Act), the Trophy Club Economic
Development Corporation 4B will convene into Executive Session to discuss the
following:
Section 551.087 – To discuss or deliberate Economic Development Negotiations
regarding prospective commercial projects within the Town of Trophy Club.
RECONVENE INTO REGULAR 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.
NOTICE IS HEREBY GIVEN THAT A QUORUM OF THE TOWN OF TROPHY CLUB TOWN COUNCIL
MAY BE IN ATTENDANCE AT THIS MEETING. THE TOWN COUNCIL WILL NOT DELIBERATE OR TAKE
ANY ACTION.
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 Monday, July 11, 2022 by 5:00 P.M. in
accordance with Chapter 551, Texas Government Code.
_______________________________
Anita Otterson, Town Secretary
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 CLUB
ECONOMIC DEVELOPMENT CORPORATION-4B (EDC-4B)
May 2, 2022 Minutes
The Trophy Club EDC-4B met on Monday, May 2, 2022. The meeting was held at Town Hall, 1 Trophy
Wood Drive at 6 pm with the following present:
MEMBERS:
Michael Thomas Director
John Mann Director
Joseph Longo Director
Teri Addington Director
Scott Haro Chair
MEMBERS ABSENT:
Michael Clarke Director
Travis Inge Vice Chair
STAFF PRESENT:
Wade Carroll Town Manager
Anita Otterson Acting Town Secretary
CALL TO ORDER
Chair Scott Haro called the meeting to order at 6:09 pm.
PUBLIC COMMENTS
No one attended to speak under Public Comments.
CONSENT AGENDA
1. Take appropriate action to approve the minutes of the Joint Meeting with EDC-4B and Town
Council on February 9, 2022.
Director Longo made a motion to approve the minutes of the Joint Meeting with EDC-4B and
Town Council on February 9, 2022. Director Addington seconded the motion. The motion carried
with all attending voting in favor.
EXECUTIVE SESSION
The EDC-4B recessed into executive session at 6:11 pm.
2.Pursuant to the following designated sections of the Texas Governmental Code, Annotated,
Chapter 551 (Texas Open Meetings Act), the Council will convene into executive session to
discuss the following:
a.Section 551.087 Deliberation regarding Economic Development Negotiations under
Subsection (1) to discuss or deliberate regarding commercial or financial information
that the governmental body has received from a business prospect that the
governmental body seeks to have locate, stay, or expand in or near the territory of the
governmental body and with which the governmental body is conducting economic
development negotiations and Subsection (2) to deliberate the offer of a financial or
other incentive to a business prospect that the Town seeks to have locate within the
territory of the Town:
Possible extension to the LOI with Elborai Group and activity on the parking easement
change.
RECONVENE INTO REGULAR SESSION
3. Take appropriate action to approve the Temporary License and Access Agreement between
the Trophy Club EDC-4B and HG Sply Trophy Club LLC for the use of EDC property for a weekly
Farmers Market event between May 1, 2022 and September 30, 2022.
A motion was made by Director Thomas to approve the Temporary License and Access
Agreement between the Trophy Club EDC-4B and HG Sply Trophy Club LLC for the use of EDC
property for a weekly Farmers Market event between May 1, 2022 and September 30, 2022.
The motion was seconded by Director Mann. The motion carried with all attending voting in
favor.
4. Take appropriate action regarding executive session items.
Director Thomas made a motion to extend the LOI with Elborai Group for 120 days. The motion
was seconded by Director Longo. The motion carried with all attending voting in favor.
ADJOURN
The meeting was adjourned by Director Haro at 6:58 pm.
__________________________________ _____________________________________
Anita Otterson, Acting Town Secretary Scott Haro, Director
Town of Trophy Club EDC-4B
TOWN OF TROPHY CLUB, TEXAS
Annual Program of Services
EDC 4B FY 2020
ACTUAL
FY 2021
AMENDED
FY 2021
ACTUAL
FY 2022
AMENDED
BUDGET
FY2022
ESTIMATE
FY 2023
PROPOSED
FY 2024
PROJECTED
FY 2025
PROJECTED
Starting Net Position (32,312)$ 212,994$ 365,706$ 229,725$ 476,082$ 748,531$ 1,167,222$ $ 1,596,320
Revenue
Sales Tax - General $ 575,821 $ 525,000 $ 678,913 $ 600,000 $ 700,000 $ 700,000 $ 714,000 $ 728,280
Interest Income - 4,000 22 4,080 739 500 510 520
Miscellaneous Revenue 64,106 - - 53,625 53,625 52,625 51,625 50,625
Total Revenue 639,927$ 529,000$ 678,936$ 657,705$ 754,364$ 753,125$ 766,135$ 779,425$ Expenses
Professional Outside Services $ 3,254 $ 4,000 $ 4,500 $ 15,000 $ 15,000 $ 50,000 $ 51,000 $ 52,020
Auditing 4,000 4,000 4,000 5,000 5,000 5,000 5,100 5,202
Advertising - 35,000 10,906 35,000 12,925 25,000 25,500 26,010
Printing - 200 - 200 - 500 510 520
Schools & Training - 1,000 - 1,000 - 3,000 3,060 3,121
Dues & Membership - 1,200 - 1,200 - 2,500 2,550 2,601
Travel & Per Diem - 750 - 750 - 2,000 2,040 2,081
Office Supplies - 200 - 200 - 500 510 520
Miscellaneous Expense 2,500 4,000 - 4,000 3,333 4,000 4,080 4,162
EDC Projects - - - - - - - -
Incentive Programs - 300,000 100,000 - - - - -
Paying Agent Fees 600 400 600 408 400 416 424 433
Transfer to General Fund - - - 40,000 40,000 40,000 40,000 40,000
Transfer to General Fund/DSR 30,000 30,000 30,000 - -
Transfer to Debt Service - 203,668 (16,332) 200,257 200,257 201,518 202,263 202,463
Bond Principal - - - - - - - -
Bond Interest 106,926 - 452 - - - - -
Debt Issue Cost - - - - - - - -
Total Expenses 147,280$ 584,418$ 134,126$ 303,015$ 276,916$ 334,434$ 337,037$ 339,133$
Net Increase (Decrease)398,018$ (55,418)$ 315,376$ 354,690$ 477,449$ 418,691$ 429,098$ 440,292$
Ending Net Position $ 365,706 $ 157,577 $ 681,082 $ 584,416 $ 953,531 $ 1,167,222 $ 1,596,320 $ 2,036,613