Agenda Packet 09/13/2022Town of Trophy Club
Meeting Agenda
Economic Development
1 Trophy Wood Drive
Trophy Club, Texas 76262
September 13, 2022 5:00 PM Council Chambers
CALL TO ORDER AND ANNOUNCE QUORUM BY EDC4B DIRECTOR HARO
REGULAR SESSION
1.Consider and take appropriate action regarding the EDC4B Meeting Minutes dated July
14, 2022.
EXECUTIVE SESSION
2.Pursuant to the following designated section of the Texas Government Code, Annotated,
Chapter 551 (Texas Open Meetings Act), the Town Council will recess into executive
session to discuss the following:
Section 551.087 Economic Development – Deliberate Economic Development
Negotiations regarding prospective commercial projects within the Town of Trophy Club.
RECONVENE INTO REGULAR SESSION
3.Take appropriate action to approve the Temporary License and Access Agreement
between the Trophy Club EDC4B and HG Sply Trophy Club LLC for use of EDC
property for a weekly Farmers Market event between October 1, 2022 and March 30,
2023 and authorize the Town Manager to execute up to 2 (two), 6 (six) month extensions.
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, September 9, 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 ClubMeeting AgendaEconomic Development 1 Trophy Wood DriveTrophy Club, Texas 76262September 13, 2022 5:00 PM Council ChambersCALL TO ORDER AND ANNOUNCE QUORUM BY EDC4B DIRECTOR HAROREGULAR SESSION1.Consider and take appropriate action regarding the EDC4B Meeting Minutes dated July14, 2022.EXECUTIVE SESSION2.Pursuant to the following designated section of the Texas Government Code, Annotated,Chapter 551 (Texas Open Meetings Act), the Town Council will recess into executivesession to discuss the following:Section 551.087 Economic Development – Deliberate Economic DevelopmentNegotiations regarding prospective commercial projects within the Town of Trophy Club.RECONVENE INTO REGULAR SESSION3.Take appropriate action to approve the Temporary License and Access Agreementbetween the Trophy Club EDC4B and HG Sply Trophy Club LLC for use of EDCproperty for a weekly Farmers Market event between October 1, 2022 and March 30,2023 and authorize the Town Manager to execute up to 2 (two), 6 (six) month extensions.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, September 9, 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 MINUTES
WEDNESDAY, JULY 14, 2022, 7:00 P.M.
The Economic Development Corporation (EDC) 4B of the Town of Trophy Club, Texas, met on Wednesday, July 14,
2022. The meeting was held at Town Hall, 1 Trophy Wood Drive in the Council Chambers.
EDC 4B MEMBERS PRESENT:
Travis Inge Vice-President
Michael Clarke Director
Joseph Longo Director
Teri Addington Director
John Mann Director
EDC 4B MEMBERS ABSENT:
Scott Haro President
Michael Thomas Director
STAFF PRESENT:
Wade Carroll Town Manager
Anita Otterson Town Secretary
Mike Erwin Director of Finance
CALL TO ORDER AND ANNOUNCE A QUORUM
Vice-President Travis Inge called the meeting to order at 7:00 PM and noted a quorum with all Directors present except
for President Haro and Director Thomas.
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.
There were no citizen presentations.
CONSENT AGENDA
1. Consider and take appropriate action regarding the EDC 4B Regular Session Minutes dated May 2, 2022 (W.
Carroll).
Vice-President Inge confirmed that all board members had time to review prior to the meeting.
Director Longo moved to approve the Consent Agenda. Director Addington seconded the motion. The motion carried
unanimously.
REGULAR SESSION
2. Conduct a Public Hearing regarding the proposed EDC 4B Budget for Fiscal Year 2022-2023 (W. Carroll).
Vice-President declared the Public Hearing open at 7:02 pm.
Town Manager Wade Carroll reviewed the budget presented to the Board. The packet included the proposed budget
for FY 2022-2023 and a budget all the way through 2025. He stated that when we prepared for the FY 22 budget, the
estimated end of year balance was at $157,000, partly due to having to move money from our unassigned fund
balance to cover debt reserve which put us in compliance. Luckily, for the last year and half to two years we have had
some outstanding sales tax returns. We have about a 16% increase over all for the last two years, so we are very
excited about the possibilities that brings upon us as EDC. As you can see your ending fund balance for EDC for FY22
is estimated at $953,000 for the end of 2022, so we are getting close to that million-dollar mark and FY 23 we will hit
the million-dollar mark at $1,100,000. We do have two parcels left and we may need some type of an economic deal
to get those parcels developed in the manner that we wish to.
The other big changes that you will see in the budget compared to last year is, first, Outside Professional Services.
Outside Professional Services in going from $15,000 to $50,000, which is due to the possible deals. We are working
through a couple of those deals now and some changes that are being made to an easement agreement, all of which
is costing us in attorney fees.
The other major change is a decrease. If you notice in the amended budget for 2022, under advertising, we had
$35,000, which is generally what we have for Jill Lind to use. She’s our marketing person and puts marketing materials
together for us through EDC funds. After reviewing historical use in that fund, we decided to lower by $10,000. It’s
now $25,000.
The only other change is the previous budget had $1,000 for training/schools and $750 for travel and per diem. Those
have both been increased a little to allow for members of the EDC board to attend a class or conference.
Those are the only major changes to the EDC budget compared to the previous year. As you can see, we’ve been
falling within budget or under budget every single year. We are happy to see that fund balance increase from year to
year so that we have money to work with.
Director Clarke asked Town Manager Carroll to elaborate on the $200,000 that goes to debt service. Town Manager
Carroll asked Finance Director Mike Erwin to explain. Back in 2015, EDC issued debt as part of the economic
development plan that was currently taking place. It was backed by the sales tax, so your payments came out to about
$200,000 a year. It was part of the process of the land we purchased. The issuance was about $2,500,000 and EDC
has been paying a little of $200,000 for the last 7-8 years. Finance can get the actual number and email it to the EDC
tomorrow morning. If that would be okay? EDC agreed.
Vice-President Inge confirmed there were no other speakers signed up for the Public Hearing. Vice-President Inge
closed the Public Hearing at 7:08 pm.
3. Take appropriate action regarding the proposed EDC 4B Budget for Fiscal Year 2023 (W. Carroll).
Director Clarke moved to approve the proposed EDC 4B Budget for Fiscal Year 2023. Director Addington seconded
the motion. The motion carried unanimously.
EXECUTIVE SESSION
4. Pursuant to the following designated sections of the Texas Governmental Code, Annotated, Chapter 551 (Texas
Open Meeting 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.
Vice-President Inge announced that the Board was going into executive session at 7:09 pm.
RECONVENE INTO REGULAR SESSION
The Board reconvened into regular session at 7:52 pm.
No action was taken.
ADJOURN
Vice-President Inge adjourned the meeting at 7:52 p.m.
_ _
Anita Otterson, Town Secretary Scott Haro, President
EDC 4B Joint Minutes June 26, 2019 Page 2 of 2