Agenda of the June 8, 2017 Economic Development Corporation Page 1 of 2

TOWN OF ARGYLE ECONOMIC DEVELOPMENT CORPORATION

NOTICE OF THE REGULAR MEETING AGENDA

June 8, 2017

6:00 p.m.

Notice is hereby given of the regular meeting of the Economic Development Corporation beginning at 6:00 p.m., Thursday June 8, 2017, at the Argyle Town Hall, 308 Denton Street, Argyle, Texas. The items listed below are placed on the agenda for discussion and/or action.

A. CALL TO ORDER.

B. APPROVAL OF THE MINUTES OF THE MAY 11, 2017 REGULAR MEETING.

C. REVIEW OF FINANCIAL REPORTS. 1. Review of financial report year-to-date May 31, 2017 (unaudited).

D. OLD BUSINESS: None.

E. NEW BUSINESS:

1. Discussion and take appropriate action regarding the nomination of officers for the

Economic Development Board.

2. Review and take appropriate action regarding the FY 2017-2018 Annual Economic

Development Corporation budget and goals and objectives.

F. UPDATES:

1. Project Updates

2. Current Development Updates

G. FUTURE AGENDA ITEMS:

1. Next Regular EDC Meeting: Thursday, October 12, 2017.

2. Discussion of current and future agenda items.

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Agenda of the June 8, 2017 Economic Development Corporation Page 2 of 2

H. ADJOURNMENT

MISSION STATEMENT.

The mission and role of the Argyle Economic Development Corporation is to promote, encourage and

develop the creation of jobs and the expansion (and diversification) of the local tax base through projects

intended to retain and expand existing business as well as attract new employers while remaining

consistent with the Town of Argyle’s rural-suburban character and the Comprehensive Plan. (Approved by

Town Council October 28, 2008)

CERTIFICATION

I hereby certify that the above notice was duly posted

at the Argyle Town Hall, 308 Denton Street, Argyle, Texas,

at 5:00 p.m. on the 5th day of June, 2017.

________________________________________________

Matthew Jones, AICP

Director of Community Development

NOTE: If, during the course of the meeting, any discussion of any item on the agenda should be held in a closed

meeting, the Board of Directors will conduct a closed meeting in accordance with the Texas Open Meetings Act,

Texas Government Code, Chapter 551, Subchapters D and E.

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MINUTES OF THE REGULAR MEETING ARGYLE ECONOMIC DEVELOPMENT CORPORATION

Thursday, May 11, 2017 The regular meeting of the Argyle Economic Development Corporation was held on Thursday, May 11, 2017, at 6:00 p.m. at Argyle Town Hall, located at 308 Denton Street, Argyle, Texas. This was an OPEN MEETING, open to the public, subject to the open meeting laws of the State of Texas and, as required by law, was hereby posted on May 8, 2017, at Argyle Town Hall, giving notice of time, date, place, and agenda thereof. BOARD OF DIRECTORS PRESENT: BOARD OF DIRECTORS ABSENT: Martin Pitts, President Brad Lowry, Vice President Chris Dominguez Ed Fritz Brandon Moore Skip Kalb ADVISORY BOARD MEMBERS PRESENT: ADVISORY BOARD MEMBERS ABSENT: Erin Davis Paula Knight Chris Rosprim Dave Salisbury STAFF PRESENT:

Matt Jones, Director of Community Development Paul Frederiksen, Town Manager Kim Collins, Director of Finance Trent Petty, Consultant EX OFFICIO MEMBERS PRESENT:

None

REGULAR MEETING AGENDA A. CALL TO ORDER:

Vice President Brad Lowry called the regular meeting to order at 6:05 p.m., noting a quorum was present.

B. APPROVAL OF THE MINUTES OF THE January 12, 2017 REGULAR MEETING. Mr. Kalb motioned to approve minutes of January 12, 2017 with amendments made, Mr. Fritz seconded the motion. The motion carried unanimously 5-0.

C. REVIEW OF FINANCIAL REPORTS.

1. Review of financial report year-to-date January 12, 2017 (unaudited) Mrs. Collins presented the year-to-date financial report as of January 12, 2017. 2. Review of the quarterly STARS (Sales Tax Analysis Reporting Service) financial report.

Justin Jenson

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Minutes of the May 11, 2017 Argyle Economic Development Corporation Page 2 of 3

Mrs. Collins presented the quarterly STARS financial report.

D. OLD BUSINESS: None.

E. NEW BUSINESS:

1. Presentation from the owner/operator of Earl’s 377 regarding current developments in Argyle.

Sparky Pearson and Steve Watkins presented information to the board regarding developments in Argyle.

2. Discussion and presentation from Petty and Associates regarding economic development in Argyle.

Trent Petty of Petty and Associates presented to the board.

3. Update regarding the Branding and Wayfinding plan for the Town of Argyle.

Andy Cousins with Valley Quest presented updates regarding the Branding and Wayfinding plan to the board.

F. UPDATES

1. Project Updates

a. Branding and Wayfinding Plan

Mr. Frederiksen and Mr. Jones presented information to the board regarding the Branding and Wayfinding Plan.

2. Current Development Updates

Mr. Jones presented information to the board regarding current developments. Mr. Dominguez joined the meeting at 6:47 p.m. G. FUTURE AGENDA ITEMS:

1. Next Regular EDC Meeting: Thursday, June 8, 2017.

2. Discussion of current and future agenda items.

H. ADJOURNMENT: President Pitts adjourned the meeting at 7:08 p.m.

APPROVED, this the 8th day of June, 2017. ATTEST: APPROVED:

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Minutes of the May 11, 2017 Argyle Economic Development Corporation Page 3 of 3

Matt Jones, Director of Community Martin Pitts, President Development

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FY 2017 CURRENT Y-T-D % OFBUDGET PERIOD ACTUAL BUDGET

REVENUE210-4011 Sales Tax EDC 229,237.00 22,715.34 174,347.35 76.06%210-4686 Interest Income 2,000.00 207.02 3,021.87 151.09%210-4690 Miscellaneous Income - - 9,287.00 0.00%

TOTAL REVENUE 231,237.00 22,922.36 186,656.22 80.72%

EXPENDITURES210-5-120-1110 Salary - - - 0.00%210-5-120-2110 Office Supplies 100.00 - - 0.00%210-5-120-3005 Miscellaneous expense 500.00 - 12.81 2.56%210-5-120-3010 Postage 200.00 - - 0.00%210-5-120-3015 Printing 1,000.00 - - 0.00%210-5-120-3018 Advertising & Marketing - - - 0.00%210-5-120-3019 Promotional Expense 5,460.00 - 9,911.63 181.53%210-5-120-3020 Contract Labor 35,000.00 - 7,500.00 21.43%210-5-120-3050 Special events - - - 0.00%210-5-120-3100 Training 5,550.00 1,382.41 2,306.81 41.56%210-5-120-3120 Dues & Memberships 8,300.00 2,500.00 9,643.00 116.18%210-5-120-3210 Other Professional Services 10,000.00 1,560.81 28,880.43 288.80%210-5-120-3211 Engineering Services - - - 0.00%210-5-120-3215 Legal expense 2,000.00 - - 0.00%210-5-120-3218 Financial Services - - - 0.00%210-5-120-6005 Capital projects 100,000.00 - - 0.00%210-5-120-7110 Transfers out 28,000.00 - 14,000.00 50.00%

TOTAL EXPENDITURES 196,110.00 5,443.22 72,254.68 36.84%

REVENUE LESS EXPENDITURES 35,127.00 17,479.14 114,401.54

BEGINNING FUND BALANCE 929,453.54 833,262.27

ENDING FUND BALANCE 964,580.54 947,663.81

Inc/Decr fromAudited Sales Tax Revenue Previous Yr.

FY07 116,141 FY08 133,915 15.3038%FY09 123,058 -8.1074%FY10 134,229 9.0778%FY11 145,399 8.3213%FY12 142,673 -1.8748%FY13 156,047 9.3741%FY14 183,575 17.6409%

FY15 198,637 8.2047% FY16 246,414 24.0526%

210 -ECONOMIC DEVELOPMENT FUNDFY17 REVENUE & EXPENSE REPORT (UNAUDITED)

AS OF: MAY 31, 201766.67% of Year Complete

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FY 2017-2018 Goals and Objectives

1. Increase sales tax revenue to diversify the tax revenue consistent with the

Comprehensive Plan.

Attend regional and national commercial retail expos. Proactively seek out

owners/developers of desirable commercial developments and promote the

Town. Actively engage and recruit desired prospects for recently approved

and future commercial developments consistent with the Comprehensive Plan.

2. Expand efforts for existing business recognition and retention programs.

Continue a “Business Spotlight” program on the website and public forum

opportunities. Continue personalized business retention practices i.e. site

visits and written letters.

3. Capitalize on emerging commercial market opportunities with data and

marketing information customized for those uses.

On a case by case basis, authorize marketing support studies to attract

desirable new businesses as those opportunities present themselves.

4. Utilize technology to convey EDC message and continue marketing Argyle.

Utilizing staff to improve timeliness of EDC website updates and investigate

opportunities for Social Media outreach.

5. Measure economic development projects on a true cost/benefit basis in order to

understand impact on revenues and expenditures, program enhancements,

school impact and Town services in a manner reflective of the adopted Comp

Plan and Form Based Code.

Develop primary data base to include known variables including Comp Plan

and Form Based Code commercial use allowances, natural impediments to

development, ad valorem and sales tax potential and cost of service formulas

that will apply to Master Development Plan (“MDP”) review via the Form

Based Code.

Analyze and apply development specific data supplied via the MDP and paid

for by major developments in order to complete project specific cost benefit

analysis for each form based code area submittal and all projects requesting

financial support.

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6. Craft custom programs and incentive packages to encourage development

consistent with the Comprehensive Plan and the Form Based Code.

Utilizing cost benefit data above, craft rational incentive packages with

measurable ROI and community benefit.

7. Support infrastructure development opportunities for sewer extension and

roadway improvements as projects emerge that will provide private capital to

support public infrastructure expansion.

Complete ROW and easement acquisition to support 377 sewer extension to

support commercial growth on 377

Continue Crawford Rd utility and roadway alignment study commensurate

with development of I35 and Robson Ranch Rd property in Argyle.

Continue long term support for 377 widening and I35 improvements.

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FY 2016 FY 2017 Y-T-D FY 17 BUDGET FY 18

ACTUAL BUDGET 5/31/2017 RE-ESTIMATE PROPOSED

REVENUE

210-4011 Sales Tax EDC 246,414.15 229,237.00 174,347.35 229,237.00 229,237.00 1

210-4686 Interest Income 4,120.54 2,000.00 3,021.87 5,000.00 3,000.00

210-4690 Miscellaneous Income - - 9,287.00 9,287.00 -

TOTAL REVENUE 250,534.69 231,237.00 186,656.22 243,524.00 232,237.00

EXPENDITURES

210-5-120-1110 Salary - - - - -

210-5-120-2110 Office Supplies - 100.00 - - 100.00

210-5-120-3005 Miscellaneous expense 73.98 500.00 12.81 12.81 500.00

210-5-120-3010 Postage 149.62 200.00 - 100.00 200.00

210-5-120-3015 Printing 348.50 1,000.00 - 500.00 1,000.00 A

210-5-120-3018 Advertising & Marketing - - - - -

210-5-120-3019 Promotional Expense 12,467.14 5,460.00 9,911.63 10,000.00 18,000.00 B

210-5-120-3020 Contract Labor 30,000.00 35,000.00 7,500.00 15,000.00 20,000.00 C

210-5-120-3050 Special events - - - - -

210-5-120-3100 Training 685.51 5,550.00 2,306.81 5,550.00 5,550.00 D

210-5-120-3120 Dues & Memberships - 8,300.00 9,643.00 10,000.00 9,500.00 E

210-5-120-3210 Other Professional Services 18,235.78 10,000.00 28,880.43 30,000.00 15,000.00 F

210-5-120-3211 Engineering Services 9,224.06 - - - -

210-5-120-3215 Legal expense - 2,000.00 - - 2,000.00

210-5-120-3216 Auditing expense - - - - -

210-5-120-3218 Financial Services - - - - -

210-5-120-6005 Capital projects - 100,000.00 - - 100,000.00 G

210-5-120-7110 Transfers out 83,158.83 28,000.00 14,000.00 28,000.00 28,000.00 H

TOTAL EXPENDITURES 154,343.42 196,110.00 72,254.68 99,162.81 199,850.00

REVENUE LESS EXPENDITURES 96,191.27 35,127.00 114,401.54 144,361.19 32,387.00

BEGINNING FUND BALANCE 833,262.27 929,453.54 929,453.54 1,073,814.73

ENDING FUND BALANCE 929,453.54 964,580.54 1,073,814.73 1,106,201.73

210 -ECONOMIC DEVELOPMENT FUND

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FY 18 Proposed Budget

1 FY17 Re-estimate is 25% increase over budget; FY18 is projected flat

A Update marketing materials

B ICSC booth $560; $NTCAR $900 booth; Metroport promotional materials $1,000; shirts $500; ADF $2500

10%-Promotional Exp. (max.) [Dues, Contributions & Promotional/Mktg. Exp. - i.e. NTCAR & ICSC booth expenses]

C P&A Contract ($15,000); Website/Misc. $5,000 TBD

D ICSC ReCon for 2 people $3,550; TEDC conference for 2 people $2,000

E Metroport Chamber $5,000; Argyle Chamber $500; TEDC $500; ICSC $300; Metroport luncheons $2,000; ADF $2,500

F Sales Tax Analysis tool $1,500; Undesignated $13,500

G Undesignated

H Salary contribution to EDC specific projects by staff

*Promotional Purpose - To publicize, promote & advertize EDC's mission/activities.

Public Hearing held by EDC 06/09/16; approved unanimously by EDC Board Approval & Recommendation to Town Council

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