January Denton Business Chronicle 2015 by Denton Media Company

2 Denton Business Chronicle

January 2015

Monthly News Recap Businesses on the move

What’s opened, what’s closed, etc. The new location of SCRAP Denton is up and running at 420 S. Bell Ave., where the nonprofit store has tripled its shelf space. The School and Community Reuse Action Project diverts materials from landfills by teaching people how to repurpose things like glass bottles and plastics. Hickory & Fry, a new bar and restaurant near the University of North Texas, opened at the turn of the new year. The bar features shareable plates of interesting concoctions, like nachos with kangaroo meat, at 1206 W. Hickory St. Lots of new spaces are up for lease, as several businesses folded at the end of 2014. After introducing new coffee products in August, Yogurt Fusion & Coffee closed in late 2014. The fast-casual Asian dining chain Genghis Grill also closed its location at South Loop 288 and Interstate 35E. Top DRC stories on Facebook

Police probe shooting deaths Few details emerged in Denton’s string of homicides last month, but all investigations are still “very active,” police say. A home invasion robbery that left two dead and two injured from gunshot wounds occurred just days before Christmas. Terrance Neal Tusan, 22, and Jakobi Dmon Gipson, 18, both of Arlington, were shot and killed Dec. 21 at the CastleRock at Denton apartment complex on Meadow Street, police said. Two other murder cases drew attention throughout December, after a murder Dec. 13 was the first reported in Denton in 2014. Police are actively working to apprehend the suspect they believe killed 27-year-old Maria Isabel Romero-Medina, said Officer Shane Kizer, spokesman for Denton police. RomeroMedina was discovered after a customer arrived at Sanchez Insurance and Tax on East McKinney Street on Dec. 13, found

the door locked during business hours and called another number listed for the business. Officer Ryan Grelle, spokesman for Denton police, said a 16-year-old boy was being held at the Denton County Juvenile Detention Center in connection with a Dec. 15 shooting on Paco Trail. The teen had been detained on a murder charge since he turned himself in, police said. Officers responded to a gunshot call in the 1200 block of Paco Trail and found Jimmy CastroAlmazan, 21, lying on the ground.

New bar Harvest House expected to open soon Set to open in March, a new bar and music venue will occupy the old Barney’s Auto Supply building on East Hickory St. Harvest House will be a shop with coffee, juice, smoothies, beer and cocktails — “more than just a bar,” co-owner Matt Arnold said. “We want to be a community space, since Harvest House has been a community of creative thinkers.” The bar will have several locally made Audacity beers, plus about 35 other draft beers. Arnold wants to have homebrew demonstrations and gardening lessons in the backyard, plus free concerts. Bluegrass band Boxcar Bandits likely will have a residency at the bar.

Cross Roads 5-year-old dies after I-35W crash Garrett Wilhelm of Gainesville was on his way to visit his parents in Keller when he rearended a family of four on Interstate 35W, police said. The Christmas Eve accident killed 5-year-old Moriah Modisette of Cross Roads and seriously injured members of her family. Officer Orlando Hinojosa, spokesman for Denton police, said Wilhelm, who is in his 20s, possibly was on his cellphone when his Toyota 4Runner crashed into the Modisettes’ Toyota Camry, which was stopped in the left lane of southbound I-35W. James Modisette, driver of the Camry, had to be extricated

Photo by David Minton

Volunteers man the buffet line at the third annual community Christmas lunch at Sweetwater Grill and Tavern on Dec 25. from the car and was transported to Denton Regional Medical Center in serious condition, Denton Fire Department officials said. The front passenger, Bethany Modisette, and the right rear passenger, 8-year-old Isabella Modisette, were transported to Denton Regional in stable condition. Moriah Modisette, who was in the left rear seat, was airlifted in critical condition to Cook Children’s Medical Center in Fort Worth and later was pronounced dead. A memorial fund was established for her on GoFundMe.

thing they can take with them after their meal,” Ryann Reid said. It was the third year the eatery has provided a free meal to the community on Christmas. After they were served a meal of freshly prepared ham, turkey, brisket and all the traditional trimmings, guests could go collect blankets, apples, granola bars and toiletry items, Ryann Reid said. About 40 volunteers helped streamline the process throughout the day, but the event required some work — from preparing the food at 6 a.m. to collecting donations weeks in advance.

Christmas day meal thrives on community

Denton welcomes first baby of 2015

By noon on Christmas, 175 people had passed through the lines at Sweetwater Grill & Tavern for a free home-cooked holiday meal. Even though Sweetwater has changed ownership, the tradition of giving back and sharing with the community is something new owners Rick and Ryann Reid want to continue for years to come. “We just wanted to take it one step further and provide some-

The newest “JAM” addition to the Mullins family of Sanger arrived on New Year’s Day. Jamin and Jennae Mullins welcomed their third child, Jordan Ava Mullins, at 1:02 a.m. Jan 1. She was the first baby delivered in 2015 at Texas Health Presbyterian Hospital Denton. The baby weighed 7 pounds, 13 ounces and was 19 3/4 inches long. The newborn shares the initials JAM with her parents and two siblings.

Contents |

January 2015

Calendar of Events A 3-D printing orientation will be held at Denton’s North Branch Library in The Forge, where a 3-D printer is located. The session will teach attendees how to use the printer. Email trey.ford@cityof denton.com to reserve a space. Monday, Feb. 2, 7 p.m.

APIs & IPAs, a new group organized by TechMill, will meet for a tech hangout every other Tuesday at East Side Denton, 117 E. Oak St. Tuesday, Jan. 20, 6:30 p.m.

Altrusa International Inc. of Denton meets for its monthly dinner and program at Cartwright’s Ranch House, 111 N. Elm St. Cost is $12 per person. Call 940-387-5031 for reservations. Tuesday, Feb. 10, 6:30 p.m.

Argyle Chamber of Commerce meets for its monthly breakfast meeting at Denton Country Club, 1213 Country Club Road. Tuesday, Jan. 20, 7:30 a.m.

Features

Index

4 | The art of coffee Shift cultivating java community in second location.

16 | High-end homes Luxury houses outpacing overall home sales in area. 19 | Eye on Washington Small businesses may see positive effects in 2015.

On the cover: Harvest House is a new bar coming to East Hickory Street. Photo by Al Key

Who to contact Scott K. Parks Managing Editor 940-566-6879 | sparks@dentonrc.com Jenna Duncan Business Editor 940-566-6889 | jduncan@dentonrc.com Sandra Hammond Advertising Director 940-566-6820 | shammond@dentonrc.com Shawn Reneau Advertising 940-566-6843 | sreneau@dentonrc.com

Association of Business Contingency Planners, North Texas Chapter has its monthly meeting at Quest Diagnostics, 2655 Villa Creek Drive in Farmers Branch. For more information, visit http://northtx.acp-inter national.com/index.php/events. Tuesday, Feb. 3, noon

Aubrey 380 Area Chamber of Commerce meets at the Prairie House restaurant, 10001 E. U.S. Highway 380 in Cross Roads. Cost is $12 per person, and reservations are required. Call 940365-9781 or email chamber@ aubreycoc.org. Wednesday, Jan. 21, 11:30 a.m.

Garden Inn Denton, 3110 Colorado Blvd. Friday, Feb. 20, 11:45 a.m.

Denton Chamber of Commerce will hold a membership luncheon at Holiday Inn Hotel & Suites, 1434 Centre Place Drive. For information, visit www. denton-chamber.org or call 940382-9693. Friday, Feb. 27, 11:30 a.m.

Denton Chamber of Commerce will hold its annual membership banquet and gala at Robson Ranch. For information, visit www.denton-chamber.org or call 940-382-9693. Friday, March 6, 5:30 p.m.

Denton Black Chamber of Commerce meets at the Denton Housing Authority, 1225 Wilson St. Tuesday, Feb. 10, 6 p.m.

Denton League of United Latin American Citizens No. 4366 meets at the Denton Senior Center, 509 N. Bell Ave. Saturday, Jan. 17, 9:30 a.m.

Electronics recycling will take place at The Cupboard Natural Foods and Cafe, 200 W. Congress St. Drop off any computer-related equipment. Fees may apply for certain items. For a list of acceptable items and for more information, visit http://computer crusher.com. Saturday, Feb. 14, 8 a.m.

Hickory Creek Planning and Zoning Commission meets at Hickory Creek Town Hall, 1075 Ronald Reagan Ave.

Lake Cities Netweavers business networking group meets at Sidewalk Bistro, 2900 Wind River Lane. For more information, email in fo@lcnetweavers. com. Thursday, Jan. 22, 8 a.m. Thursday, Jan. 29, 8 a.m. Thursday, Feb. 5, 8 a.m. Thursday, Feb. 12, 8 a.m.

Lake Dallas 4A Economic Development Corp. meets at Lake Dallas Municipal Complex. Monday, Feb. 2, 7 p.m.

Little D Open Coffee Club meets every other week for a moderated chat about the latest in technology, startups, digital lifestyle and business at Banter Bistro, 219 W. Oak St. Tuesday, Jan. 27, 8 a.m. Tuesday, Feb. 10, 8 a.m.

NAACP, Denton County Chapter meets at the Denton Housing Authority, 1225 Wilson St. Thursday, Feb. 12, 7 p.m.

Oakmont Women’s Club meets in the St. Andrews Room at Oakmont Country Club in Corinth. Annual membership is $25. For more information, call 940321-5599 or visit http://oakmont womensclub.org. Tuesday, Feb. 10, 10 a.m.

Please tell us about your event or meeting by emailing jenna Duncan at jduncan@dentonrc.com; by fax at 940-566-6888; or by mail to DBC Calendar, Denton Record-Chronicle, 314 E. Hickory St., Denton, TX 76201. She also can be reached at 940-566-6889.

Wednesday, Feb. 4, 7 p.m.

Business Networking Workshop will be a four-part workshop on networking to grow your business, taught at Denton’s South Branch Library, 3228 Teasley Lane. Registration is required, and available at www.cityof denton.com/departmentsservices/departments-g-p/library/ register-for-classes or by calling 940-349-8752. Friday, Jan. 16, 11:30 a.m. Friday, Jan. 23, 11:30 a.m. Friday, Jan. 30, 11:30 a.m. Friday, Feb. 6, 11:30 a.m.

Denton Chamber of Commerce holds its monthly business networking lunches at Hilton

Home Builders Association of Greater Dallas, Denton Division has its monthly meeting and luncheon at Lantana Golf Club, 800 Golf Club Drive. Cost is $18 for associates and builders with reservations, and $20 for walkins. Call 940-383-0853. Tuesday, Jan. 27, 11:30 a.m.

Investment Perspective Seminar hosted by financial adviser Kathy R. Bauer of Edward Jones at 2925 Country Club Road, Suite 101A in Denton. Coffee is complimentary. Call 940-482-0280. Thursday, Feb. 19, 9 a.m.

January 2015 | Vol. 10, No. 11 Publisher: Bill Patterson The contents of this free publication are copyrighted by Denton Publishing Company, 2015, a subsidiary of A.H. Belo Corp. (www.ahbelo.com, NYSE symbol: AHC), with all rights reserved. Reproduction or use, without permission, of editorial or graphic content in any manner is prohibited. Denton Business Chronicle is published monthly by Denton Publishing Company, 314 E. Hickory St., Denton, TX 76201. E-mail: drc@dentonrc.com

Denton Business Chronicle

January 2015

4 Denton Business Chronicle

January 2015

Business Spotlight

More than a cup of coffee By Danielle Garcia | For the Denton Record-Chronicle

Angelo Fesperman, co-owner of Shift, wakes up at 5:30 a.m. daily to live out his dream and passion for coffee. Girlfriend and Shift co-owner Kelsey Heimerman and Fesperman work a combined 140 hours per week to keep their dream running. Their aim is to create sustainable and consistent coffee for customers. “We try to make sure that the experience is special every time you have the coffee,” Fesperman said. “Being ‘green’ is not only good for the world, but also for your business. You are being economically and environmentally conservative, and you can do that if you are creative enough.” While Heimerman pursued painting and Fesperman learned the art of coffee, they crossed paths and fell in love, going on to create their brainchild, Shift. Shift is a coffee shop on Locust Street just south of the Square. It opened Oct. 3, on their second anniversary. The dream of a coffee shop began 10 years ago for Fesperman, as a philosophy student at the University of North Texas. He began working in the coffee business — from Jupiter House Coffee, to Cups and Crepes, to Big Mike’s Coffee. He gained experience with coffee in shops all over Denton. It was 2008 when Heimerman began her career as an art student at UNT and began to frequent Big Mike’s, where Fesperman would serve her coffee for four years. As she studied art and drank coffee, she and Fesperman slowly grew to know each other. They started dating in 2012 and began the manifestation of his dream for a coffee shop. “I love him so dearly, I would make his dream come true. My whole family came together to build this shop for him,” Heimerman said. “In the future, with the success of Shift coffee, I would love to own an art gallery, but for

right now this is the beginning.” The shop’s first location on Prairie Street, open for five months, was demolished in February. As Shift was establishing its clientele base, the landlords decided to demolish the complex with the exception of a couple of businesses. “It was pretty heartbreaking, but it turned out to be a blessing in disguise,” Heimerman said. Shift was the only business in the complex to be immediately offered a new location. “We had already invested so much money in remodeling the property, bringing it completely up to code as a restaurant,” Heimerman said. Seven months and much anticipation later, the shop again was serving coffee to the Denton community. “What really got me into coffee was this ability to access a real-world situation in the countries that are growing the coffee beans and [them] getting paid correctly for their product,” Heimerman said. “I feel like we’re just a small drop in a large pond, but the ability to have that connection with these people at a really young age is just so rewarding at the end of the day.” The Shift owners carry out those values by importing beans that are picked, washed and processed by hand at the farm. “It is a precise process that allows one to give respect to the work put into the product,” Heimerman said. “Then those cherries grow and they’re picked when they’re perfectly ripe. “The videos that you watch of these people making coffee in Third World countries — it’s just so beautiful, these people working so hard to make coffee to make a living,” she said, adding that it takes five years for a coffee tree to mature into bearing fruit. After the beans arrive in Denton, Shift brews the coffee by hand. Each cup made at Shift is handcrafted with a Chemex pourover brewer, which allows a

Photo by Danielle Garcia

Kelsey Heimerman, left, and Angelo Fesperman are the co-owners of Shift coffeehouse on South Locust Street. person to specifically adjust the aspects of the coffee. Shift’s pre-brewed coffee standard is one thing that differentiates it from other coffeehouses in Denton. “It’s a craft, it’s an art and we want to increase the awareness,” Fesperman said. “In the coffee culture [in Denton], there are lots of shops that are around each other who promote each other because they promote palate awareness. “When you develop a culture of tasting, you develop a culture of asking.” “To make the absolute best product, you have to be an artisan with experience and tastebuds to determine what needs to be adjusted. A machine can’t do it,” said Andy Graf, a longtime friend of the owners. “I went from disliking coffee to being an avid lover and drinker of it, thanks to Angelo.” Fesperman introduced Heimerman and Graf to the art of coffee making. Now, through Shift, they raise awareness in the Denton community. Heimerman

said her ability to play a role in Denton and in the communities where the beans are harvested is very rewarding. “Our ability to directly interact with the community — I am forever grateful for that. I think there is correct way to do it and treat that product with respect, yet in so many incidences it is lost,” Heimerman said. “I always tell people it’s not just coffee to us, it’s our lives. “We definitely want to spread it out to Denton, and spread the love and good vibes to making an experience for someone — letting someone really enjoy coffee.” Shift recently participated in a latte art competition that is organized by Cultivar Coffee and hosted at a different shop each month. Natural lighting, neutral tones and an open space make for a friendly, peaceful atmosphere at Shift. Heimerman’s abstract and colorful art gives it personality. “I like the environment here, and I’m able to read better here than other coffee shops. I like the

people behind the counter. They’re nice,” said Jeff McAdams, a UNT graduate and regular customer. A new customer, UNT student Ali West, said the shop attracts all types of customers. “You see all sorts of people here, young and old,” West said. The location of Shift was chosen in order to be in an area that is emerging and growing, and to help that part of Denton prosper. The name has a couple of stories behind it. Fesperman’s original name idea was Square, but he ended up naming the shop Shift out of his love for cycling. The name can hold various meanings. “In order to progress with any kind of changes that occur, you have to be able to shift your way of thinking,” he said Fesperman said one thing that won’t shift is the owners’ attitude toward their employees. “You have to take care of people,” he said. “We are a family unit that works well together.” SHIFT | CONTINUED ON PAGE 7

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proving the presumptions above can be complex and a family law attorney should be consulted. Any man or mother who wants to establish a parent-child relationship between a man and a child should not wait to take action as there are vital time frames and deadlines. A paternity case can even be filed before the birth of the child. Any man who has been established as the child’s parent who later believes he is not the parent should not wait to take action because again, vital deadlines and time frames apply. And, in certain limited circumstances, a mother may be able to challenge an established father-child relationship. Texas law now provides in certain circumstances a way for a man who either signed an acknowledgment of paternity or is adjudicated to be the father of a child without genetic testing to have the parent-child relationship terminated. In any of these circumstances, a family law attorney should be consulted

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right away. In Texas we have a registry of paternity in our bureau of vital statistics. It is essential that any man who desires to be notified of a proceeding for the adoption of or the termination of parental rights regarding a child that he may have fathered register with the paternity registry. A man may register before the birth of a child but no later than the 31st day after the date of the birth of a child. If a man registers he is responsible for promptly notifying the registry of any change in his information The paternity registration form can be located at http://www.dshs. state.tx.us/vs/patreg/.

man is not entittled to notice by one of these two means, then his parental rights may be terminated without notice to him if he has not timely registered. Information contained in the paternity registry is confidential and may be released on request only to the following: • a court or a person designated by the court; • the mother of the child who is the subject of the registration; • an agency authorized by another law to receive the information; • a licensed child-placing agency;

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• a support enforcement agency; • a party, or the party’s attorney, to a proceeding for adoption, paternity or to terminate parental rights; and • the registry of paternity in another state; Any man who has registered with the paternity registry may withdraw his registration. Registering with the paternity registry does establish legal paternity of a child and does not begin the process of establishing legal paternity of a child. Further, the information contained in the registry may be used in a legal proceeding to establish paternity of a child.

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Denton Business Chronicle

January 2015

6 Denton Business Chronicle

January 2015

Enterprising Voices

Commercial lease review, Part 2 Editor’s note: This column continues a topic discussion from December’s Denton Business Chronicle. ■ he terms of a commercial lease will govern the financial relationship between a business and its landlord. The lease will determine the tenant’s occupancy rights. The lease will establish how the parties deal with default and termination. The lease will supply the base upon which the business operates for years to come. It is important that the tenant understand the terms contained within the lease and how the lease will impact its business.

TENANT’S CONSTRUCTION Tenants typically construct improvements to the leased premises to make it suitable for their specific purpose. Unless limited by the terms of the lease, such improvements may be performed without the landlord’s consent. Any improvements to the leased premises that cannot be removed without damaging the property must remain with the premises at the conclusion of the lease. Tenants must consider the length of time it will take to improve and outfit the leased premises, when the landlord will turn over possession of the leased premises, and when rent starts to accrue during the lease negotiations. REPAIRS AND MAINTENANCE In a commercial setting, the parties may allocate the repair and maintenance responsibilities for the leased premises. Typically, the landlord will retain responsibility over the structural portions of the leased premises while the tenant will accept the duty for the remainder of the structure and its systems. It should be noted that the landlord’s failure to repair or maintain does not relieve the tenant of paying rent unless otherwise allowed by statute or the lease, or the issue arises to the level of a constructive eviction.

Scott ALAGOOD | DEFAULT, REMEDIES AND MITIGATION A lease typically defines specific acts and omissions that will constitute defaults thereunder. Clearly the failure to pay rent is a default. Tenants may want to require the landlord to provide some type of notice to the tenant and allow an opportunity to remedy a breach before being held in default. Once a default occurs, the landlord has several options. The landlord may terminate the lease and demand that the tenant vacate the leased premises. Alternatively, the landlord may retake possession of the leased premises without accepting surrender of the lease, and relet to another tenant. The landlord may allow the lease to continue and sue for rents as they become due. If the landlord chooses to accelerate the rentals under the lease, he must reduce the future rentals by the fair market rental value of the leased premises and discount the remainder of the rentals due under the lease to present value. If the landlord relets the leased premises at a rate that is less than the rental rate in the defaulting lease, the landlord also may sue the defaulting tenant for the difference. In most default situations, the landlord also should attempt to mitigate his damages upon a tenant’s default where possible. A landlord may recover reasonable and necessary attorney fees in a suit against a defaulting tenant where allowed by the terms of the lease or statute. IMPLIED COVENANTS Unless the lease expressly provides otherwise, a commercial

lease typically contains certain promises that are implied. These include the landlord’s promise that the tenant will enjoy the premises without interference, the tenant’s promise to not cause waste, and the landlord’s “warranty” that the premises are suitable for the tenant’s intended use. The implied covenant that the tenant continuously operate its business on the leased premises exists where the lease provides that the rental is paid only as a percentage of the tenant’s gross sales. WAIVER OF JURY TRIAL It is very common for a commercial lease to contain a waiver-

it tegr

of-jury-trial provision. Such a provision is valid under Texas law. If a tenant wishes to retain the right to a trial by jury, then such will have to be negotiated prior to the execution of the lease. NON-WAIVER Most commercial leases contain “non-waiver” provisions. A non-waiver provision allows a landlord to not be bound by a prior failure to enforce a lease right or to declare a later occurring default that the landlord may have delayed enforcing or outright waived his rights in a prior default situation. Nonwaiver provisions are generally considered valid and enforceable. RESTRICTIONS ON ASSIGNMENT Unless otherwise allowed by

the terms of the lease or the landlord’s consent, Texas law does not allow a tenant to assign or sublet its leasehold interest. Any attempt to assign or sublet by a tenant without lease authorization or the landlord’s consent is void. CONDEMNATION Unless otherwise contracted between the parties to the lease, a tenant is entitled to share in any condemnation award where any portion of the leased premises is lost through the eminent domain process. However, most commercial landlords typically want to alter this situation so that they remain in control of the condemnation process and the proceeds. ALAGOOD | CONTINUED ON PAGE 23

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Enterprising Voices

Small businesses award-worthy T

he Small Business of the Year Award has been a standing initiative of the Denton Chamber of Commerce for the last 29 years. Marcus Watson, co-owner of Little Guys Movers, heads the chamber’s Small Business Initiatives Committee and will oversee the selection of our award for 2014. Little Guys Movers received the Small Business of the Year Award for 2008. Nominees primarily are considered on business-related accomplishments as of Dec. 31, 2014, that may include a combination of comparable growth indices, innovation and the ability to overcome adverse circumstances. More than half of the chamber’s current membership employs five full-time employees or fewer, corroborating the spirit of our Small Business of the Year Award as a testament to the free enterprise system. Locally owned Links Construction was named the Small Business of the Year for 2013. The award for 2012 went to Rose Costume. Denton Depot, coowned by current board chairman Larry Parker, received the honor for 2011. The 2014 Small Business of the Year Award will be presented during the chamber’s next membership luncheon, at 11:30 a.m. Feb. 27 at Holiday Inn Hotel & Suites, 1434 Centre Place Drive. We’ll be holding our annual membership banquet and gala

Denton Business Chronicle

Fon Laughlin Attorney at Law

January 2015

5118 E. University Dr. Denton, TX 76208 940-382-8200 888-651-6428 Fax fon@laughlinlawtx.com

president of the Denton Chamber of Commerce. He can be reached at dcoc@ denton-chamber.org.

Chuck CARPENTER | earlier this year — and changing to a Friday evening — March 6 at Robson Ranch. The intent is to make the format lighter and more festive. Complementing Parker’s program theme of “We the People of the Chamber,” we’ll be recognizing the efforts of individual volunteers. The 2015-16 program year will feature the return of our Business Expo. Scheduled for Thursday, April 30, the preeminent Denton trade show will be held at the recently remodeled Golden Triangle Mall. Last held in 2012, the Business Expo typically promotes the products and services of 50-plus local businesses, with a fastpaced networking format for our members to meet potential clients and vendors. For additional information regarding the Business Expo, membership luncheon or annual gala, please visit the Chamber website, www.denton-chamber.org, or call the chamber office at 940-382-9693. CHUCK CARPENTER is

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Business Spotlight SHIFT | CONTINUED FROM PAGE 4

With a bar at the center of the shop, all processes can be easily seen. All ingredients are organic, and most everything is made in-house, including orange juice, ice cream, smoothies and coffee syrups. Baked goods come from Hannah’s Off The Square, and the roasted coffee is from Avoca Coffee in Fort Worth, where Fesperman gained more experience in art of coffee. “Transparency is one of the

first words that I learned when I worked here,” Shift employee Cody Carter said. Heimerman and Fesperman want to play a part in the betterment of the community. “To be able to have a ritual, now that is important. It is an experience that humans are missing,” Heimerman said. “If you can have it in something as simple as a cup of coffee or an espresso, I think that is everything.”

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8 Denton Business Chronicle

January 2015

Enterprising Voices

Five value investing lessons year of this bull market, we reprise five timeless lessons that underpin successful value investing.

“I got to study under Ben Graham at Columbia, which changed my life.” — Warren Buffett, Graham’s best student

enjamin Graham often is cited as the father of modern value investing. Prior to his work as a professor, author and fund manager through the tumultuous 1920s, 1930s and 1940s, the stock market was mainly thought of as a casino — a place for insiders, hot tips and wild swings. This time in the market was decidedly not the place where the average Joe plowed his savings for retirement. But Graham approached the market in a very different, very disciplined way. He developed three key principles as the framework for investing, not speculating, in the market. Over his career, he delivered 20 percent annual returns, even after suffering a near-catastrophic collapse during the Great Depres-

Jonathon FITE | sion. Amazing. Warren Buffett supped from this font of knowledge and expanded on those three fundamental principles to add a few of his own. As a result, most value investing principles can be distilled into five simple lessons. Yet, somehow, the application of these lessons is far from commonplace nearly 75 years later. As Buffett described in his 1996 letter to shareholders, “Intelligent investing is not complex, though that is far from saying that it is easy.” As 2015 begins the seventh

■ PRICE DOES NOT ALWAYS EQUAL VALUE Graham probably is most famously known for his investing allegory of Mr. Market — a remarkably accommodating fellow who is your partner in a private business. Without fail, he appears daily to name a price at which he will either buy your interest or sell you his. But, sad to say, the poor fellow has incurable emotional problems. At times he feels euphoric and can see only the favorable factors affecting the business. When in that mood, he names a very high buy/sell price because he fears that you will snap up his interest and rob him of imminent gains. At other times, he is depressed and can see nothing but trouble ahead for both the business and the world. On these occasions he will name a very

low price, since he is terrified that you will unload your interest on him. Mr. Market has another endearing characteristic: He doesn’t mind being ignored. If his quotation is uninteresting to you today, he will be back with a

new one tomorrow. Transactions are strictly at your option. Underpinning this allegory is the belief that all businesses have some underlying, intrinsic value based on the assets they possess, the earning power those create and the competitive position held in the marketplace. Sometimes, the price Mr. Market is willing to pay for that value is reasonable, FITE | CONTINUED ON PAGE 11

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10 Denton Business Chronicle

January 2015

Business Mixers Ribbon-cuttings The Denton Chamber of Commerce celebrated the openings of several businesses with ribbon-cutting ceremonies.

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Enterprising Voices FITE | CONTINUED FROM PAGE 8

pricing the future prospects of the business based on reasonable expectations of asset performance, earning power and competitive positioning. Unlike most financial academics who believe that modern 24/7 news coverage, data feeds and trading floor chat rooms result in efficient market prices, Graham believed Mr. Market was subject to bouts of manic depressive mood swings. These swings create periods of time when the market price for a business could dislocate from a business’s true worth. Take a look at 1999, 2001, 2007 and 2009 for a few of these data points. These periods represented massive spikes in price volatility, but looking back it is clear the fundamentals of many businesses were not appropriately reflected during these mood swings. Just as most academics believe that the market price of a business always reflects an accurate value of the business’s future prospects, these same professionals equate price volatility to risk. Value investors know this is silly, typically witnessing two or three 5 percent market pullbacks annually, often resulting in at least one 10 percent correction. Bear markets of 20 percent or more typically occur every two to three years, and major plunges of 40 percent or more rear their heads once or twice a decade. Graham and his best student sought these moments of high volatility to exploit dislocations between price and value. Most people are familiar with the quip “Be greedy only when others are fearful.” This goes to the heart of the Mr. Market lesson. ■ CIRCLE OF COMPETENCE If one believes there are times when price does not equal value, and that low-price-to-value time periods are great opportunities to buy vs. high-price-to-value time periods being sound times to sell, successful investors must dedicate themselves to identifying the value of a business. It is only when you have a high degree of confidence in the value of a business that you can identify when Mr. Market is being

moody. Graham and Buffett instruct us here as well: “Your goal as an investor should simply be to purchase, at a rational price, a part interest in an easily understandable business whose earnings are virtually certain to be materially higher five, 10, 20 years from now. Over time you will only find a handful of companies that meet these standards — so when you see one that qualifies, you should buy a meaningful amount of stock.” There are lots of interesting nuggets packed in this quote, also taken from Buffett’s 1996 letter, but we believe the most important centers on the “easily understandable” part. In the universe of 5,000 publicly traded stocks in the U.S., and probably another 10,000 around the world, there are likely a select few the average investor can truly understand well. This is what Graham calls a “circle of competence.” There is no reason for an investor to chase the latest social media darling, South African gold miner or Phase 3 Alzheimer’s drug maker. There is little chance that any of these truly lie within your circle of competence. But we bet just about anyone reading this article — with some basic lessons on valuation — could assess the future prospects of Coca-Cola, Wal-Mart or Berkshire Hathaway. My business partner and I spend a lot of time trying to expand our circle of competence. That is why you have seen articles these past few years covering companies like Shaw Industries (a power plant contractor), Nu Horizons (electronics component distributor), Bronco Drilling (onshore rig operator) and the more familiar names above. But we are professional fund managers. This is our full-time vocation, even passion. But the average investor can do quite well knowing, understanding and following a handful of simple companies. If you truly build a circle of competence around a company, then you will know when the market price has drifted away from true value of your business — and you can invest accordingly. The key here is that the vast majority of businesses should

simply be put on the “too hard” pile. There are no called strikes in this game. There is no penalty for not swinging. Pick your pitches and hit the fat ones. ■ MARGIN OF SAFETY Now you know that price does not always equal value and you have spent enough time to understand a particular business

to recognize when this phenomenon is occurring. This third lesson simply says to only buy when you have a big enough margin of safety to account for the fact that you might be wrong in your assessment. While the goal of any investment is to make money, first and foremost, we need to do all we can to prevent losses.

If we think about capital preservation first, we buy with a high degree of confidence that our downside is protected. Then, if our assessment of the price vs. value equation is correct — when Mr. Market realizes he was being silly and offers a more fair price for your business — your margin FITE | CONTINUED ON PAGE 18

Denton Business Chronicle

January 2015

12 Denton Business Chronicle

Cover Story

January 2015

Serving up growth

The Service Industry bar is prepared for the establishment’s opening on West Hickory Street.

By Jenna Duncan | Photography by Al Key

Denton’s economy is expected to continue its growth trend in 2015, as unemployment rates remain low and businesses prepare to open this year. Big industries could see some boom activity in Denton and the rest of the Dallas-Fort Worth area this year, including information technology and aviation, said Michael Seman, a research associate at the Uni-

versity of North Texas’ Center for Economic Development and Research. “The great thing is the recession is over,” Seman said. “Texas never felt the brunt of that like everywhere else, but that being

said it was still a pattern to not spend and it was very concerning. ... The economy is back, and the thought process in North Texas is, ‘let’s make up for lost time.’” As the aviation industry

grows and Denton companies like Peterbilt plan for expansion this year, sectors of the economy like restaurants and retail could benefit. Here’s some of what entrepreneurs and industry leaders have planned for Denton in 2015: DOWNTOWN GROWTH Several businesses are slated to join downtown Denton in 2015, as the Square continues to

be a destination for dining, nightlife and tourism. So far, three new restaurants and bars will join the Square — Service Industry, Muddy Jake’s Sports Grill & Pub and Barley & Board. Greg Johnson, managing partner of Verus Real Estate Advisors, which owns multiple downtown storefronts, said he wants the offerings downtown to continue to diversify. He worked

13 Denton Business Chronicle

January 2015

Courtesy art/RED Development

This is a recent rendering of the planned Rayzor Ranch Town Center in Denton. the deal to bring in Barley & Board, which is headed by the owner of Lone Star Attitude Burger Co. “When the guys at LSA had the success that they had opening and we saw what happened, we thought, ‘That’s the kind of unique, non-chain vibe we want downtown,’” Johnson said. While Barley & Board is set to open in the spring, Service Industry and Muddy Jake’s hope to open by the end of winter. Other businesses are joining the downtown area, like bar and music venue Harvest House and Flatlanders Taco Co. So many can join the downtown landscape because the city is working closely with business owners to meet demand, Seman said. “[City officials] understand there is a new need for the population to go to different restaurants and retail,” he said. “Most people in Denton would love nothing more than to not leave Denton to do their shopping, and

BUSINESSES SCHEDULED TO OPEN IN 2015 Armadillo Ale Works, 1512 Interstate 35W Bahama Buck’s, 3520 E. McKinney St. Barley & Board, 100 W. Oak St. Cinemark Movie Bistro, Rayzor Ranch Town Center Flatlanders Taco Co., 115 Oakland St. Freaks and Geeks, 1629 N. Elm St. Harvest House, 331 E. Hickory St. Inspire Yoga, inside H Squared at 321 W. Hickory St. Muddy Jake’s Sports Grill & Pub, 222 W. Hickory St. Pizza Snob, inside H Squared at 321 W. Hickory St. Salata, U Center at Fry Street Service Industry, 222 W. Hickory St. Tea 2 Go, inside H Squared at 321 W. Hickory St.

I think that trend will definitely continue. There is a pent-up demand for local shopping and dining, without a doubt.” NEW RETAIL DEVELOPMENT The much-anticipated Rayzor Ranch Town Center is expected to start opening storefronts in 2015, and Golden Triangle Mall also anticipates additions.

RED Development, which is heading the Town Center, is working on finding tenants for the project, said Scott Wagner, RED’s vice president for development. While RED representatives are in discussions with several potential tenants, Cinemark Movie Bistro is a tenant that has been finalized and 2015 | CONTINUED ON PAGE 14

Much work is going into making Harvest House a bar and music venue at 331 E. Hickory St.

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Matt Slider, left, and J.B. Paschal pose for a photo at the Service Industry location on West Hickory Street. 2015 | CONTINUED FROM PAGE 13

announced publicly. WinCo Foods has filed initial paperwork with the city to join the project, but a deal has not been finalized. “Tenants are very, very aware of it and very happy. There’s no lack of confidence,” Wagner said. “The project is well positioned, but it’s going to take time. There’s a lot of different components. We want to make sure it’s built the right way at the right time. ... You respond to the market when those tenants are ready, and you continue when more are ready.” Denton has been able support a large, high-end development for years, but confidence in the market is steady enough now to attract the desired tenants, Se-

man said. That’s also why expansions at Golden Triangle Mall continue to succeed. This year, the mall expects to add several tenants, including one that will lease more than 20,000 square feet of store space once a deal is finalized, mall manager Matt Ludemann said. “We’re at a point now where it’s not absurd to think we should develop more retail,” Seman said. “A few years ago, even though we had the population, the thought was we should wait.” COMMERCIAL AND RESIDENTIAL Peterbilt Motors Co. will expand its plant in Denton this year, for the first time in 16 years. Planning for the plant is in its

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early stages, but it will increase capacity and could add jobs, said Derek Smith, the company’s public relations manager. TetraPak is still working to finalize moving its headquarters to Denton from Chicago. Before it began the move, the company had a large manufacturing plant in the Denton area to produce its food carton packaging. Large residential developments are underway in Little Elm and Corinth, as well as additional apartment complexes at the Unicorn Lake development in Denton. JENNA DUNCAN can be reached at 940-566-6889 and via Twitter at @JennaF Duncan.

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15 Denton Business Chronicle

January 2015

16 Denton Business Chronicle

January 2015

Business Spotlight

Luxury home sales booming in region By Steve Brown | DMN

Home sales in North Texas were flat in 2014, basically unchanged from a strong year in 2013. While overall preowned home purchases have leveled off, luxury housing sales are soaring in the Dallas-Fort Worth area. Sales of homes priced at $1 million and above jumped 15 percent in 2014, according to a new report by the Texas Association of Realtors. North Texas had the secondhighest luxury home sales increase in the state, behind only San Antonio, where $1 million property purchases rose by 26 percent last year. “The overall economic growth and prosperity in Texas have contributed heavily to the luxury market, making it one of the strongest segments of housing in Texas in 2014,” Jim Gaines, an economist at the Real Estate Center at Texas A&M University, said in the report. “We also saw a lot of people moving to Texas from places like California, where a modest two-bedroom condo can be valued upward of $1 million. “Those people sell their home in California, move to Texas and realize their money goes much further in our market.” Luxury home sales last year increased 13 percent in Houston and 11 percent in Austin. Through November, 926 North Texas homes priced at $1 million or more were sold by real estate agents through their multiple listing service. And that total may be low because of the large number of off-market sales. Only Houston had a larger number of luxury home sales than North Texas. About 880 homes listed for sale with agents in the DallasFort Worth area are priced at $1 million and up. That’s about a 10.2-month supply, according to the Texas Association of Realtors. “We’re seeing more demand for luxury properties from Texans whose incomes are increasing,

Louis DeLuca/DMN

This luxury home is in the Saddle Creek development in Prosper. Sales of homes priced at $1 million and above jumped 15 percent in 2014 in the Dallas-Fort Worth area, according to a report from the Texas Association of Realtors. enabling them to move up, and from those moving to our state from elsewhere in the country,” Scott Kesner, association chairman, said in the report. With oil prices plunging and

a slowdown in job growth expected, some analysts have predicted a slowdown in Texas home purchases and price increases. But Gaines said it’s too early to tell what this year’s luxury

home market will see. He remains optimistic. “The wealth and income effect from energy the past several years have fostered a market for higher-priced houses that

should maintain this year,” Gaines said. “The real difference might show up in people buying a $1 million to $2 million home instead of a $3 million or $4 million home.”

17 Denton Business Chronicle

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18 Denton Business Chronicle

January 2015

Enterprising Voices FITE | CONTINUED FROM PAGE 11

of safety turns into your upside. Sometimes Mr. Market may wake up from his depression quickly. Sometimes it takes three, four or five years. The key is to only buy at a big enough discount so that if business conditions worsen the likelihood of true capital losses are low, and so that if you have to wait awhile for Mr. Market to perk up, you are appropriately compensated for your patience. ■ GREAT BUSINESSES While the first three lessons flow straight from the teacher, Buffett expanded upon those core principles as his investment career matured. In contrast to Buffett’s early years as a hedge fund manager, when he often bought average businesses priced at large discounts to their liquidation value, as Buffett’s investment company grew and his universe of available investment opportunities shrank, he narrowed his focus to high-quality businesses. While still applying Graham’s lessons, Buffett found that buying great businesses at a fair price was easier, and safer, than buying mediocre businesses at a great price. Over the years, it’s no wonder companies like CocaCola, Wells Fargo and Geico have found their way into his portfolio. All were understandable businesses. All were bought at times when the market price was well below their intrinsic value, creating large margins of safety. But perhaps more importantly, these businesses were of such high quality, their long-term earning power nearly guaranteed that their worth would increase substantially over the years, well ahead of the eroding effects of inflation. Given our government’s penchant for steady debasement of our currency, this is very meaningful over long periods of time. In our own fund, we have the luxury of a much wider universe of opportunities versus Buffett. This flexibility allows us to go to where the best values happen to be — whether that’s in mega-cap Apple or a microcap oil and gas company. But most investors are likely to do just fine if they confine

Mark Duncan/AP

Warren Buffett congratulates the Cleveland Cavaliers’ LeBron James after a win over Charlotte on Dec. 15 in Cleveland. their short list to the world’s best businesses, where their circle of competence is likely to be the strongest, and buy them when the market assumes these dominant players will never grow again. ■ GREAT MANAGERS The corollary to great businesses is great leaders at their helms. In the mid-1980s, Buffett once explained that management really only has two jobs. The first is to find, hire and retain the best talent to run the operations of a business; the second is capital allocation. Unfortunately, most management teams are terrible at this. Over the course of their careers, most chief executive officers demonstrate remarkable skills in sales, marketing, production or research and development — and they rise to the top based on these skills. But none of these skill sets necessarily teach the leader how to invest. This is evidenced by most of the merger and acquisition activity that CEOs initiate. Few deals have actually benefited shareholders, increasing the intrinsic value per share of the enterprise. Instead, most deals fuel the CEO’s animal spirits to grow larger simply for the sake of being larger, to bid up acquisition candidates because their competitors are bidding too, to use shareholder funds like Monopoly money, since most CEOs

own too little of the enterprises they run. One of the ways to combat this is to narrow your target list of companies to those that have great managers at the top. Managers who own several multiples of their annual salary in company stock are more likely to run the business with an owner’s mentality, one that maximizes shareholder value rather than one that simply expands the CEO’s sphere of power. Companies with long records of high returns on equity (ROE) often are businesses that have disciplined capital allocators. Only when managers effectively invest the shareholders’ money will long-term ROE be above average. In our own fund, this criterion is key to our investment decisions. Having managers who are heavily aligned with shareholder value helps ensure that destructive capital allocation decisions are avoided, and when companies find themselves priced below their intrinsic value, these managers can help shareholders by initiating accretive share repurchases. This tax-efficient exploitation of the price-to-value gap acts on behalf of shareholders when they may not have funds to do it themselves, and increases shareholder returns over time. While these five lessons are not an exhaustive list of all the learnings from Graham and Buffett’s value investing philosophy, they constitute a core framework of principles for all rational investors. In our own fund, we supplement these with other valuation, portfolio management and macroeconomic insights. But if investors simply keep these five lessons in mind, the power of the lessons may change their lives as well. JONATHON FITE is a managing partner of KMF Investments, a Texas-based hedge fund. He is an adjunct professor with the College of Business at the University of North Texas. This column is provided for general interest only and should not be construed as a solicitation or personal investment advice. Comments may be sent to email@KMFInvestments.com.

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Business Spotlight

Year may bring small business help from Washington By Joyce M. Rosenberg | The Associated Press

NEW YORK — Small business owners may get more help from Washington in 2015. Gridlock in Washington in recent years has stalled tax bills and other legislation aimed at helping small companies, but such proposals are expected to be on the agenda in the Republicanled Congress. Democrats have opposed some proposals because of concerns about the impact of those tax breaks on the federal budget. Parts of the health insurance law are likely to be debated. And lawmakers and the Small Business Administration hope to make it easier for companies to borrow. “Small businesses are looking for government to function and get a lot more done,” says John Arensmeyer, CEO of the advocacy group Small Business Majority. But bills friendly to small businesses may not be a slam dunk. Senate Democrats will have enough votes to filibuster and block GOP-sponsored legislation, and President Barack Obama can veto bills. TAX HELP SOUGHT Obama and Republicans support a reduction in the corporate tax rate from the current 35 percent. But small businesses might not benefit from that, because many company owners are sole proprietors, partners or shareholders in companies who report business income on personal returns. It’s not known how many people fall into those categories, as the IRS doesn’t keep statistics on the number of 1040 personal returns filed by business owners. But their numbers are large enough that small business advocates want a cut in personal tax rates as well. A corporate rate reduction might be accompanied by the elimination of some business deductions, leaving many oneperson companies and partnerships at a further disadvantage, says Todd McCracken,

president of the advocacy group National Small Business Association. Small business tax deductions are also likely to be taken up by legislators. The GOP is expected to try to make permanent an upfront deduction for the cost of equipment like computers and machinery. That means a quicker tax break for small businesses than if they depreciate equipment over the course of three to 20 years. The deduction has fluctuated annually, and an increase in the 2014 deduction to $500,000 from $25,000 wasn't approved until Dec. 16 Another break that might become permanent is bonus depreciation, which accelerates the amount any business can deduct for property including buildings and equipment. LENDING HELP Congress is also expected to consider legislation to make it easier for small businesses to borrow. Democrats on the Senate Committee on Small Business & Entrepreneurship expect to reintroduce a bill to help womenowned businesses get small- and intermediate-size loans backed by the SBA. A similar bill was introduced in July but made little progress. Separately, the SBA plans to launch an online system during the second quarter that simplifies the lending process. It's expected to encourage more banks, particularly smaller ones, to make SBA-backed loans, says SBA Administrator Maria ContrerasSweet. “It’s streamlined in terms of there’s no paper,” ContrerasSweet says. The owners of Xero Shoes hope for an easier time getting an SBA loan in the new year. The application and approval process they went through for a $500,000 loan in 2014 took eight months, longer than the two months their lender initially forecast. Their financial records were in order, but they had to produce documentation to prove Xero

Pablo Martinez Monsivais/AP

House Speaker John Boehner, R-Ohio, administers the House oath to U.S. Rep. Michael Burgess, R-Lewisville, during a ceremonial re-enactment Jan. 6 in Washington. was a small business and conformed to other requirements for the loan. “I was unprepared for how much paperwork would be involved and how time-consuming it would be,” says Lena Phoenix, chief operations officer of the Boulder, Colorado, shoe manufacturer. HEALTH LAW ROLLBACK? Republicans are expected to try to repeal the health insurance law but Obama will veto a bill if

it passes Congress, says Karen Kerrigan, president of the advocacy group Small Business & Entrepreneurship Council. A section of the law whose repeal has bipartisan support is a 2.3 percent tax on the sale of medical devices, items ranging from examination gloves to X-ray machines. Opponents say the tax hurts manufacturers, including small businesses. Expect the GOP to seek a repeal soon after Congress convenes, Kerrigan says.

Another expected target: The requirement that companies that must offer insurance make it available to employees working 30 or more hours a week. Opponents want that threshold raised to 40 hours. “As long as we don't undermine the intent of the law, I think that's something we should take a look at,” says Sen. Ben Cardin, D-Md., who will be the most senior Democrat on the Senate’s small business committee.

Denton Business Chronicle

January 2015

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January 2015

Vital Statistics SALES TAX

The following sales permits were issued by the state comptroller’s office for December. The list includes the owner, name of business and address within area codes 75034, 75065, 75068, 76201, 76205, 76207, 76208, 76209, 76210, 76226, 76227, 76234, 76249, 76258 and 76266. 75034 World Wide Bullionaires Inc., World Wide Bullionaires Inc., 1669 Princess Lane, Little Elm 75065 Hickory Creek-RP Inc., Rice Pot Express, 4000 FM2181, Hickory Creek 75068 Averquen Averquen, 1025 Port Mansfield Drive, Little Elm Javier Escobedo, Escobedo's Lawnscaping, 2409 Texoma Drive, Little Elm Laerte Santos Point Car, 2324 Bradford Pear Drive, Little Elm Ou Zhang, Ou Zhang, 2721 Rockport Lane, Little Elm P & T Fitness LLC, P & T Fitness, 2701 Little Elm Parkway, Suite 150, Little Elm Rajah Ello, Brolitz 101, 2712 Peach Drive, Little Elm Reel Reverie Mediaworks Inc., Reel Reverie Mediaworks Inc., 3807 Fishermans Cove, Little Elm William D. Snow, Deals, 2369 Sunshine Drive, Little Elm Yesica Gonzalez, A Pleasant Scent, 2720 Pecan Drive, Little Elm Zahr Food Inc., Little Caesar's Pizza, 1721 E. Eldorado Parkway, Little Elm 76201 222 Denton LLC, Service Industry, 222 W. Hickory St., Suite 103, Denton Condor Beverage Company LLC, The Liquor Outpost, 1100 W. University Drive, Denton First People's Jewelers LLC, First People's Jewelers LLC, 117 N. Elm St., Denton

76209 Anastasia Spatz, Anastasia Spatz Photography, 2115 Paisley St., Denton Lewis Hunnicutt, Lewis Hunnicutt, 552 E. Windsor Drive, Denton

Maria De La Luz Briseno And Lorena I Montejano, Taco Lady Mobile, 1101 E. McKinney St., Suite 101, Denton Michael Kraus, Kraus Media, 516 Coronado Drive, Denton

Pedro's Tex Mex & Grill No. 2 LLC, Pedro's Tex Mex & Grill, 420 E. McKinney St., Suite 100, Denton

SALES | CONTINUED ON PAGE 23

James David Ross Jr., Jim Ross Real Estate, 1005 W. Hickory St., Denton Juan Rolando Chavez, Streetart Signs, 901 Sunset St., Denton N. D. Robinson Inc., Dickey's Barbecue Pit, 2530 W. University Drive, Suite 1110, Denton SFD Entertainment LLC, Jack's Tavern, 508 S. Elm St., Suite 101, Denton Shri Shivshankar LLC, Yogurt Story, 2700 W. University Drive, Suite 1080, Denton Yang Guang LLC, New China King Buffet, 1008 W. University Drive, Denton 76205 Craig Connections Inc., Craig Connections Inc., 1010 Fort Worth Drive, Denton Relic Junkie LLC, Relic Junkie LLC, 1008 Fort Worth Drive, Denton 76207 Armadillo Brewing Company LLC, Armadillo Brewing Company LLC, 1512 I-35W, Suite 101, Denton Kelly Lynne Griggs, Kelly Griggs, 2324 Crestmeadow St., Denton 76208 Christopher Govan and Taiwana Govan, From The Heart, 3708 Springfield St., Denton Claudia Marie Holt, Claudia Marie Holt, 1900 Le Sage Court, Denton Lia Rene Young, RBC, 7908 Hinkley Oak Drive, Denton Moda Staffing LLC, Moda Staffing LLC, 2007 Glen Manor Road, Corinth Steven C. Gambles II, Emaci, 3500 Quail Creek Drive, Denton

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Vital Statistics BUILDING PERMITS

The following building permits were issued by the Denton Planning and Development department in December. Commericial alterations and commercial permits reflect the owner or tenant and the address of the business. Residential permits include the address and the total valuation of the home. CERTIFICATES OF OCCUPATION Adnan Chaudhry, 1724 Bernard St. The Salvation Army, 217 and 221 S. Bell Ave. COMMERCIAL ALTERATION Affordable Dentures, 2318 San Jacinto Blvd., No. 104 American Tower Corporation, 300 Massey St. Applebee’s, 707 S. I-35E Bill Bauman, 2630 S. Mayhill Road Bre Woodhill Apartments LLC, 1408 Teasley Lane, Building 28 Caprock Restoration, 2311 Stella St. Caprock Restoration, 2311 Stella St., No. 125 Caprock Restoration, 2311 Stella St., No. 126 Caprock Restoration, 2311 Stella St., No. 127 Caprock Restoration, 2311 Stella St., No. 130 Caprock Restoration, 2311 Stella St., No. 148 Caprock Restoration, 2311 Stella St., No. 225 Caprock Restoration, 2311 Stella St., No. 226 Caprock Restoration, 2311 Stella St., No. 227 Caprock Restoration, 2311 Stella St., No. 230 Caprock Restoration, 2311 Stella St., No. 248

Cole Irwin Inv. Ltd., 706 Sycamore St. Denton Smiles Dentistry, 721 S. I-35E, No. 200/206 Dollar Tree, 800 W. University Drive DSW Inc., 2201 S. I-35E FedEx Office, 1314 W. Hickory St. Flatlanders Tacos, 109 Oakland St. Hose Tech USA, 1000 S. Woodrow Lane Indian Motorcycle, 3801 N. I-35, No. 110 Kirk Simmons, 118 W. Congress St. North Texas State Fair, 2217 N. Carroll Blvd. Smoothie King, 5050 Teasley Lane, No. 114 Southwestern Bell, 2411 N. Elm St. Westdale Carriage, 903-1115 S. Ave. C RESIDENTIAL ARAF Inc. 3608 Tuscan Hills Circle Bloomfield Homes 4808 Park Place 4908 Park Place 5005 Park Place

ASSUMED NAMES

The following names (followed by DBA and address) were posted in December at the Denton County Clerk’s office.

NAME — DBA/ADDRESS

Alfonso J. Galvan, Galvan Contraction, 660 Corral Lane, Denton Alvis Glidewell, United Lawn Care, 2510 Denison St., Denton Amber Ellis, Promordial Properties, 111 E. University Drive, Suite 105, Denton Benedette Walker, NGO Jewelries, 1201 Ave. A, Apt. 7, Denton Brannan Schlittler, BDS General Contracting and Renovations Group, 501 S. Locust St., Denton Carol Loucille Battig and Wiliam P. Battig, Saw Distinct Designs, 9404 Freeport Drive, Denton Charli Altum, C Bar C Equine Express, 2321 N. Masch Branch Road, No. 310, Denton Chelsi Thrailkill, Salon Z, 2735 Wind River Lane, Suite 150, Denton Christopher Aaron Wiethof, AWP Tech, 3758 Swisher Road, Denton Claudine LaFave, Burning Bush Art, 3939 Teasley Lane, No. 39, Denton Daniel Martinez, Martinez Brothers Concrete and Landscaping, 1000 Cruise St., Denton Denton 1002 Dallas Drive LLC, Store Here Self Storage, 1002 Dallas Drive, Denton Denton 3919 MicKinney LLC, Store Here Self Storage, 3919 E. McKinney St., Denton Eduardo Ibarra, Some Handy Pros, 5301 E. McKinney St., Lot No. 289, Denton Eliya Chacha, Cloud 9 Management System, 2800 Desert Drive, Denton Jennifer Cains, House of Cains Hairdressing Company, 2735 Wind River Lane, Suite 150, Denton Jesus Fuemtes, Red Shark Designs B4 J, 3100 Pinehurst Court, Denton John McDonald, MAC Realty, 111 E. University Drive, Suite 105-175, Denton John Vance, Roadrunner 24HR Roadside Assistance, 2910 Country Club Road, Denton Jordan Farley, My Stylist Jojo, 2735 Wind River Lane, Suite 150, Denton Jose H. Palao, Patricia’s Housekeeping Service, 2500 Fort Worth Drive, No. 52, Denton Josh Hurst, Sacred Oak Tattoo, 1005 W. University Drive, No. 102, Denton Kerry Rivers, Jet, 3900 Stuart Road, Denton Kim Pallister, Mary Me Bridal, 4309 N. I-35, Denton LaDonna J. Ballas, Latter Rain Roldings LLC, 7101 Mira Vista Drive, Denton

Laurie Holtzclaw, Lulu’s Voodoo, 5524 Woodland Hills Drive, Denton Lenita Simone Royster, Simone Anderson CPA, 2609 Hollowridge Drive, Denton Mari Gil, Tacos San Pedro, 4005 N. I-35, Denton Massowd Iskandarani, Ace Pro Tutors, 303 N. Carroll Blvd., Suite 220, Denton Michael and David Harding, ClOforlife, 2600 Virginia Circle, Denton Michael Andrew Redding, A Red Wholesale, 201 Inman St., Apt. 12208, Denton Michael Rodriguez, Quik-Tax, 6720 Saddle Court, Denton Miguel Ramos, Ramos Productions, 6601 Grissom Road, Lot 25, Denton Miner Health Solutions Inc., Smoothie King, 5050 Teasley Lane, Suite 114, Denton Nathan Williams, Adventure Guild, 224 Fry St., Apt. C, Denton Nathan Williams, Shop Denton, 224 Fry St., Apt. C, Denton Nathan Williams, Shop Texas, 224 Fry St., Apt. C, Denton Nathan Williams, Sunday Print Shop, 224 Fry St., Apt. C, Denton Pedro E. Cruz, Pedro’s Tex Mex and Grill No. 2 LLC, 420 E. McKinney St., Suite 100, Denton Raymond L. Crawford III, Friends of UNT Political Action Committee, 207 W. Hickory St., Suite 110, Denton Raymond L. Crawford III, Friends of UNT Political Action Committee, 207 W. Hickory St., Suite 110, Denton Ronald Jordan O’Leary, Jordan O’Leary Productions, 2500 John Drive, Denton Schmitz Realty Group LLC, Stratford Condos HOA, 207 W. Hickory St., Suite 103, Denton Shannon Jones and Sara Hance, Diamonds in the Rough Furniture, 301 Tanglewood St., Denton Silas Mimba and Tembi Anoh, Food Transfer Union, 3224 N. Bell Ave., Denton Simone Urschel LLC, Locust Street Inn, 815 N. Locust St., Denton T.C. Winghouse, Mean Green Central Grill, 1005 Ave. C, Denton Thomas E. Hook, Monterey Car Co. and Parts, 1401 Fort Worth Drive and 611 E. McKinney St., Denton Thomas Jon Tremblay, Concepts and Design, 1308 Teasley Lane, Suite 340, Denton

Please recycle this newspaper

5001 Park Place 4913 Park Place 4804 Park Place 4801 Park Place Carmen Custom Homes 8100 Creek View Court Dessie F. Henderson 1112 E. Oak St. DR Horton 5821 Loveland Drive 3232 Tamarack Lane 4620 Gunnison Drive 4708 Gunnison Drive 5800 Marsh Rail Drive 5804 Marsh Rail Drive 5812 Marsh Rail Drive 5816 Marsh Rail Drive 5820 Marsh Rail Drive 5020 Split Rock Drive

2300 Lighthouse Drive 2320 Lighthouse Drive 2400 Lighthouse Drive 2404 Lighthouse Drive 2313 Windhaven Drive 5804 Glenwood Drive 5813 Loveland Drive 3012 Tamarack Lane

7804 Apple Valley 3116 Key Largo Court 7905 Bishop Pine Road

DR Horton Texas LTD 2705 Pioneer Drive 2713 Pioneer Drive 4712 Gunnison Drive 4716 Gunnison Drive 4800 Gunnison Drive 2317 Lighthouse Drive

Innovation Builders 2901 Bella Lago Drive 5720 Tawakoni Drive 4604 Brookside

First Texas Homes 4000 Autumn Path Road 6812 Edwards Road 6517 Edwards Road 3304 Lakeview Blvd.

Why Make Your Heirs Wait? Merrill Lynch Financial Adviser Jeffery D. Price

As people live longer a new trend in inheritance is evolving; fast-tracking inheritances. In fact, 60 percent of people age 50 and older in a recent Merrill Lynch study said they would prefer to give sooner rather than later - so that they can help and see their children pursue their dreams. Before joining the trendsetters and speeding up your legacy, take into account the following considerations: Not one size fits all Some of your children may prefer to wait for their inheritance, while others could benefit greatly from having the money now. For example, if your grandson’s startup requires seed money to be able to beat the competition to market giving him his entire inheritance now might make a lot of sense. You’ll get the satisfaction of seeing him invest in his future. And he won’t have to defer his dream. But consider, too, how other family members may feel about the gift, and what their immediate needs are. Talk with everyone, and make it clear that gifting now could affect how much they will receive later on, in your will.

Gift vs. burden Larger gifts, in particular, sometimes bring unwanted responsibilities. If for example, you give one child control of a trust - and discretion over distributions to other family members - could you be thrusting that child into an unwelcome position? Before gifting take an honest moment to consider if your heirs are prepared to take on the inheritance. Avoid over-giving Before you give, determine what you need for the rest of your life - and make sure you’ve set those resources aside. Otherwise, you may shortchange not only yourself but the very family members you’re trying to help. You don’t want to put them in a position of having to support you later on. Communications is the first step in planning for your inheritance. Having an open and honest dialogue with the whole family can help set everyone up for success. Consider looping in a financial professional from the beginning to mediate the process and develop an inheritance plan that meets all parties’ financial goals.

Denton Business Chronicle

January 2015

History Maker Homes 2316 Windsor Farms Drive 2317 Windsor Farms Drive 3424 Oceanview Drive

Robson Ranch (GC) 12117 Glenbrook St. 12013 Pepperidge Ave. 9606 Ravenwood Drive Robson Denton Dev. LP. 11505 Parkcrest Drive

The investments or strategies presented do not take into account the investment objectives or fanancial needs of particular investors. It is important that you consider this information in the context of your personal risk tolerance and investment goals. Always consult with your independent attorney, tax advisor, investment manager, and insurance agent for final recommendations and before changing or implementing any financial, tax, or estate planning strategy. Merrill Lynch Wealth Management makes available products and services offered by Merrill Lynch, Pierce, Fenner & Smith Incorporated, (“MLPF&S”), a registered broker-dealer and Member SIPC, and other subsidiaries of Bank of America Corporation (“BofA Corp”). “Merrill Lynch” refers to any company in the Merrill Lynch & Co., Inc., group of companies, which are wholly owned by Bank of America Corporation. Investment products:

For more information, contact Merrill Lynch Financial Advisor Jeffery D. Price of the Southlake, Texas office at 817410-4940 or Jeffery_price@ml.com.

Are Not FDIC Insured Are Not Bank Guaranteed

May Lose Value

22 Denton Business Chronicle

January 2015

Vital Statistics MIXED BEVERAGE TAX

The following mixed beverage tax information was issued by the state comptroller’s office for December. The list includes the name of the business, address and reported tax. 119 Loophole Private Club, 119 W. Hickory St., Denton, $3,649.35 American Legion Post No. 550, 905 N. Foundation, Pilot Point, $1,085.26 Andy's Private Club, 122 N. Locust St., Suite B, Denton, $5,838.71 Angelina's Mexican Restaurant, 1400 N. Corinth St., Suite 111, Corinth, $785.77 Applebee's Neighborhood Grill, 707 S. I-35E Denton, $3,400.51 Applebee's Neighborhood Grill, 2672 FM423, Little Elm, $2,291.26 Aramark Educational Services, 303 Administration St., Denton, $108.74 Ashton Gardens, 2001 Ashton Gardens Lane, Corinth, $2,277.66 B.P.O.E. Denton No. 2446, 228 E. Oak St., Denton, $743.43 Best Western Area Crown Chase, 2450 Brinker Road, Denton, $225.38 BJ's Restaurant & Brewery, 3250 S. I-35E, Denton, $6,095.99 Black-Eyed Pea, 2420 S. I-35E, Denton, $135.00 Bono's Chop House & Saloon, 2025 N. Highway 287, Decatur, $1,909.50 Boomerjack Wings No. 8, 407 W. University Drive, Denton, $1,031.26 Brunswick Zone Denton, 2200 San Jacinto Blvd., Denton, $1,151.32 Buffalo Wild Wings Grill & Bar, 1400 S. Loop 288, Suite 110, Denton, $3,473.54 Cabana Beverages, 1300 N. I-35E Denton, $105.99 Casa Torres Mexican Restaurant, 2708 FM 51, Decatur, $1,145.36 Chili's Grill& Bar, 2406 N. I-35, Denton, $1,930.94 Chilitos Private Club Inc., 619-623 S. Denton Drive, Lake Dallas, $380.22 Chipotle Mexican Grill, 1224 W. Hickory St., Denton, $46.90 Chuy's Denton, 3300 Wind River Lane, Denton, $4,272.79

Cool Beans, 1210 W. Hickory St., Denton, $2,897.61 Courtyard By Marriott, 2800 Colorado Blvd., Denton, $333.92 Dan's Silverleaf, 103 Industrial St., Denton, $2,526.83 Denton Country Club, 1213 Country Club Road, Argyle, $2,264.86 Denton Side Bar, 109 Ave. A, Denton, $1,628.83 East Side Social Club, 117 E. Oak St., Denton, $10,099.37 El Fenix-Denton Texas, 2229 S. I-35E, Denton, $708.86 El Guapo's, 419 S. Elm St., Denton, $824.77 Ernesto's Mexican Restaurant, 10279 FM455E, Suite 1, Pilot Point, $1,306.03 Frilly's, 1803 S. Highway 287, Decatur, $1,788.16 Fry Street Public House, 125 Ave. A, Denton, $5,755.03 Fry Street Tavern Club, 121 Ave. A, Denton, $5,817.07 Fuzzy's Taco Shop, 109 N. State St., Decatur, $1,150.25 Fuzzy's Taco Shop, 2412 S. I-35E, Denton, $1,299.13 Fuzzy's Taco Shop, 1044 Maple St., Suite 101, Sanger, $209.57 Fuzzys Taco Shop, 421 Highway 377 S., Argyle, $507.05 Fuzzy's Taco Shop Cross Roads, 11450 US Highway 380, Suite 160, Cross Roads, $937.26 Genghis Grill The Mongolian, 2416 Lillian Miller Parkway, Denton, $50.45 Good Eats No. 729, 5812 N. I-35, Denton, $0 Hannahs, 111 W. Mulberry St., Denton, $3,720.51 Hickory & Fry, 1206 W. Hickory St., Denton, $0 Hickory Street Lounge, 212 E. Hickory St., Denton, $2,098.50 HNC Lions Den Private Club Inc., 2700 E. Eldorado Parkway, Suite 250, Little Elm, $601.39 Holiday Inn Denton, 1434 Centre Place Drive, Denton, $409.37 Hooligans Private Club, 104 N. Locust St., Denton, $4,906.61 Hooters, 985 N. I-35E, Denton, $3,840.50 II Charlies Private Club, 809 Sunset St., Denton, $4,354.86 J R Pockets Club, 1127 Fort Worth Drive, Denton, $2,671.08

Jackie's, 201 Main St., Lake Dallas, $2,216.15 Jag Private Club Inc., 119 S. Elm St., Denton, $3,724.19 Johnny Carino's Italian, 1516 Centre Place Drive, Denton, $892.30 Keiichi LLC, 500 N. Elm St., Denton, $302.43 Kobe Sushi & Steak LLC, 2832 E. Eldorado Parkway, Suite 208, Little Elm, $241.66 La Casa Velez, 2831 W. Eldorado Parkway, Suite 112, Little Elm, $622.43 La Milpa Mexican Restaurant, I820 S. I-35E, Unit 1, Denton, $903.62 Lake Cities Post No. 88 The A, 105 Gotcher Ave., Lake Dallas, $1,284.85 Lake Cities Post No. 88 The A, 105 Gotcher Ave., Lake Dallas, $1,297.32 Lake Dallas Point Restaurant, 303 Swisher Road, No. 100, Lake Dallas, $2,181.25 Lake Ray Roberts Area Elks Lodge, 1601 Marina Circle, Sanger, $374.32 Lantana Golf Club, 800 Golf Club Drive, Argyle, $1,447.40 Lone Star Attitude Burger Co., 113 W. Hickory St., Denton, $4,024.35 Los Charros, 2763 E. Eldorado Parkway, Suite 105, Little Elm, $444.07 Los Jalapenos Restaurant, 420 E. Eldorado Parkway, Little Elm, $152.35 Los Toreros Restaurant, 2900 Wind River Lane, Suite 134, Denton, $1,704.61 Lowbrows Beer and Wine Garden, 200 W. Washington St., Pilot Point, $437.30 Mable Peabody's Beauty Parlor, 1125 E. University Drive, Suite 107, Denton, $1,486.93 Mellow Mushroom, 217 E. Hickory St., Denton, $1,838.27 Meritt Ranch Beverages Limited, 2946 Ganzar Road W., Denton, $339.42 Metzlers Food and Beverage Inc., 1251 S. Bonnie Brae St., Denton, $636.50 Mi Sueno Club, 2648 FM407E, Suite 150, Bartonville, $1,071.73 Mi Taza Latin Tex-Mex Cafe Restaurant, 5017 Teasley Lane, Suite 101, Denton, $466.05 Miguelito's, 1521 E. McCart St., Krum, $607.28 Miguelitos, 1412 N. Stemmons St., No. 178, Sanger, $986.64 Movie Tavern, 916 W. University Drive, Denton, $5,239.93

Mulberry Street Cantina Club, 110 W. Mulberry St., Denton, $3,006.75 Norman Heitz Memorial Post 104, 501 Thompson, Lake Dallas, $664.37 Oak Street Drafthouse Club, 308 E. Oak St., Denton, $4,857.96 Oakmont Country Club, 1200 Clubhouse Drive, Corinth, $1,344.15 Ollimac Company, 1400 Corinth Bend, Suite 103, Corinth, $640.78 On The Border, 2829 S. I-35E, Denton, $2,313.84 Outback Steakhouse, 300 S. I-35E, Denton, $2,075.79 Pedro's Tex Mex & Grill, 209 S. Washington St., Pilot Point, $385.38 Pei Wei Fresh Kitchen, 1931 S. Loop 288, Suite 130, Denton, $74.03 Phil Miller Post No. 2205 VFW, 909 Sunset St., Denton, $1,019.20 Pilot Point Columbus Club, 221 N. Prairie St., Pilot Point, $33.70 Pilot Point Columbus Club, 221 N. Prairie St., Pilot Point, $31.15 Pizza Hut, 730 S. Highway 377 S., Pilot Point, $28.40 Pollo Tropical Beverages LLC, 2220 S. Loop 288, Denton, $0 Pourhouse Sports Grill, 3350 Unicorn Lake Blvd., Denton, $1,605.78 Prairie House Restaurant, 10001 Highway 380, Cross Roads, $1,238.09 Queenie's Steakhouse, 113 E. Hickory St., Denton, $1,342.68 Red Lobster No. 6349, 2801 S. I-35E, Denton, $1,131.83 Ringers, 807 Eagle Drive, Denton, $811.70 Riprock's, 1211 W. Hickory St., Denton, $4,854.01 Rock 101 Grill, Little Elm, 2833 Eldorado Parkway, Suite 301, Little Elm, $4,878.40 Rockin' Rodeo, 1009 Ave. C, Denton, $4,261.26 Rocky's Sports Bar, 2000 W. University Drive, Denton, $2,365.16 Rooster's Roadhouse, 113 Industrial St., Denton, $2,469.41 Rooster's Roadhouse Decatur, 106 N. Trinity St., Decatur, $1,514.80 Rosa's Cafe & Tortilla Factory, 1275 S. Loop 288, Denton, $145.85 RT's Social Club Inc., 1100 Dallas Drive, Suite 124, Denton, $7,589.55

Rubber Gloves, 409 E. Sycamore St., Denton, $633.55 Ruby-Jeans Social Club Inc., 309 N. FM156, Ponder, $365.82 Rusty Taco Denton, 1 210 E. Hickory St., Denton, $312.28 Savory Private Club, 2650 FM407E, Suite 165, Bartonville, $774.45 Sean's Mesquite Pit BBQ, 401 N. Highway 287, Decatur, $51.92 Sushi Café, 1115 W. Hickory St., Suite 100, Denton, $71.28 Sweetie Pie's Ribeyes, 201 W. Main St., Decatur, $361.13 Sweetwater Grill & Tavern, 115 S. Elm St., Denton, $2,198.27 Texas Roadhouse, 2817 S. I-35E Denton, $3,075.50 The Aztec Club, 720 W. University Drive, Denton, $1,355.47 The Bears Den, 11670 Massey Road, Pilot Point, $224.04 The Garage, 113 Ave. A, Denton, $3,774.11 The Green House, 600 N. Locust St., Denton, $1,862.19 The Labb Club, 218 W. Oak St., Denton, $2,592.16 The Olive Garden Italian Restaurant, 2809 S. I-35E, Denton, $1,450.08 Three Fins Seafood Grill, 2303 S. I-35E, Denton, $781.22 Tower Tap House, 290 E. Eldorado Parkway, Little Elm, $1,397.08 University Lanes, 1212 E. University Drive, Denton, $833.54 Varsity Roadhouse, 26781 US Highway 380 E, Little Elm, $1,712.38 Varsity Roadhouse, 26781 US Highway 380 E, Little Elm, $1,499.99 Verona Pizza Italian Restaurant, 201 Loop 81/287N, Decatur, $27.33 Villa Grande Mexican Restaurant, 12000 US Highway 380, Suite 100, Cross Roads, $1,323.31 Villa Grande Mexican Restaurant, 2530 W. University Drive, Suite 114, Denton, $1,316.95 Vitty's Club Inc., 1776 Teasley Lane, Suite 102, Denton, $2,289.92 Wild Horse Grill, 9400 Ed Robson Circle, Denton, $2,079.21 Xchan Thai Bistro and Sushi, 113 N. State St., Decatur, $72.76

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Vital Statistics VEHICLE SALES

LIENS

The following sales information for Denton County was issued in the Freeman Autoplex Recap by Freeman Publishers.

DOMESTIC CARS MAKE Acura Buick Cadillac Chevrolet Chrysler Dodge Fiat Ford GMC Honda Jeep Lincoln Mazda Mitsubishi Nissan Ram Subaru Toyota Volkswagen Others TOTAL

NOV. SALES 0 5 2 44 17 42 0 126 0 86 3 0 6 0 142 2 4 64 49 0 592

YEAR TO DATE 7 85 145 813 183 585 2 1,608 14 1,717 8 1 47 1 1,593 14 38 896 753 1 8,511

IMPORTED CARS MAKE Acura Aston Martin Audi BMW Bentley Buick Chevrolet Ferrari Fiat Ford Honda Hyundai Jaguar Kia Lamborghini Land Rover Lexus Lotus Maserati Mazda McLaren Mercedes-Benz Mini Mitsubishi Nissan Porsche Rolls Royce Smart Subaru Tesla Toyota Volkswagen Others TOTAL

NOV. SALES 0 0 0 2 0 1 4 0 0 0 18 35 1 46 0 0 2 0 0 13 0 3 2 19 3 1 0 0 14 3 116 2 0 285

YEAR TO DATE 3 0 10 11 1 17 64 1 0 8 319 589 3 743 1 1 15 0 0 453 0 25 6 220 180 5 0 0 257 32 985 90 10 4,050

STATE TAX LIENS

MAKE Acura Cadillac Chevrolet Chrysler Dodge Ford Freightliner GMC Honda International Jeep Kenworth Lexus Lincoln Mack Mercedes-Benz Mitsubishi Nissan Peterbilt Ram Subaru Toyota Volvo Others TOTAL

NAME/ADDRESS Timothy Wayne Parker, Vapormax, 176 Teasley Lane, Suite 112, Denton Gerald Metaxas, 3025 Montclair Place, Denton 121 Marketing Company LLC, 7013 S. I-35E, Denton Dom Corp, 516 S. I-35E, Denton

YEAR TO DATE 0 243 1,684 5 209 3,943 13 906 380 4 1,192 2 3 0 1 3 194 212 15 981 196 304 6 7 10,505

IMPORTED TRUCKS MAKE Acura Audi BMW Buick Fiat Ford Freightliner Hino Honda Hyundai Infiniti Isuzu Kia Land Rover Lexus Lincoln Mazda Mercedes-Benz Mitsubishi Nissan Porsche Subaru Toyota Volkswagen Volvo Western Star Others TOTAL TOTAL VEHICLE SALES

NOV. SALES YEAR TO DATE 1 34 1 2 0 7 8 135 0 0 9 67 0 0 0 0 31 464 12 210 0 2 0 28 46 735 0 3 0 4 1 1 9 309 0 1 4 99 72 924 0 2 22 277 112 961 2 85 1 3 0 2 0 0 331 4,355 2,001

January 2015

The following liens were posted in December at the Denton County Clerk’s office.

DOMESTIC TRUCKS NOV. SALES 0 19 125 0 7 364 0 53 32 0 103 0 0 0 0 1 18 25 0 82 27 22 0 1 879

Denton Business Chronicle

25,858

TYPE Limited sales excise and use tax Limited sales excise and use tax Limited sales excise and use tax Limited sales excise and use tax

AMOUNT $1,200.64 $1,290.65 $2,242.40 $1,478.09

REC. DATE 12/15/2014 12/15/2014 12/18/2014 12/18/2014

TYPE Limited sales excise and use tax Limited sales excise and use tax Limited sales excise and use tax Limited sales excise and use tax

AMOUNT $3,587.95 $1,563.44 $1,456.96 $1,220.49

REC. DATE 12/15/2014 12/15/2014 12/18/2014 12/18/2014

AMOUNT $17,869.99 $19,054.51 $14,084.71 $5,849.69 $3,746.95 $32,490.88 $37,659.61 $12,918.24 $52,775.01 $416,964.59 55,654.38

REC. DATE 12/04/2014 12/09/2014 12/09/2014 12/12/2014 12/12/2014 12/12/2014 12/22/2014 12/22/2014 12/22/2014 12/23/2014 12/23/2014

RELEASE OF STATE TAX LIENS NAME/ADDRESS 6-L Investments LLC, 519 S. Elm St., Denton Integrity Car Care Prosper LLC, 1321 N. Highway 377, Pilot Point Bradley Jay Bell, 807 N. 5th St., Sanger Wycked Vapor LLC, 1212 E. 6th St., Krum

FEDERAL TAX LIENS NAME/ADDRESS Neal Anderson, 4612 Redbud Drive, Denton Maxine Chapman, 5601 Klein Drive, Denton Kenneth L. and Sheila A. Maupin, 2700 Emerson Lane, Denton ANL Collision Center Inc., 2401 Worthington Drive, Suite 106, Denton Edred A. Gibson, 1021 Bolivar St, Denton Gerald Waylan Turner, 1424 Broadway St., Denton Christman Cable Inc., 202 Mission St., Denton North Texas Foot and Ankle Specialists, 102 N. Locust St., Suite 102, Denton Barry J. Lau, 4410 Mary Lane, Denton Kevin Lee, 3601 Chapel Hill Lane, Denton Kevin L. Lee, 3601 Chapel Hill Lane, Denton

TYPE 1040 1040 1040 941 940, 941 1040 941 941 1040 941 1065, 940

RELEASE OF FEDERAL TAX LIENS NAME/ADDRESS Rodger D. Liverman, 422 Holiday Drive, Ponder Michael W. Warren, 3621 Beatriz Drive, Denton Richard M. and Judith A. Drew, 8905 Grandview Drive, Denton Billy D. and Tracy S. Polley Jr., 8580 Davidson Road, Sanger Henretta Richard, 625 Broadwalk Lane, Denton Kyle Abbott, 32 Springfield Bend, Argyle Fre L. Barthold, 1412 Gatewood Drive, Denton Frist United Methodist Church, 1001 E. McCart St., Krum Herbert White Gas Co. Inc., 1204 W. University Drive, Suite 400, Denton Reita Padgett, 2613 Bissonet Drive, Denton Jorge Guiterrez, 5505 Fishtrap Road, Lot No. 206, Denton

TYPE 1040 1040 1040 1040 1040 1040 1040 941 941 1040 1040

AMOUNT $20, 918.19 $883.20 $70,579.61 $134,466.56 $5,479.59 $5,645.83 $33,931.71 $3,555.84 $5,817.70 $10,153.40 $63,462.07

REC. DATE 12/04/2014 12/04/2014 12/12/2014 12/12/2014 12/12/2014 12/22/2014 12/22/2014 12/22/2014 12/22/2014 12/22/2014 12/23/2014

CONTRACTOR BMR Pool and Patio Praus Construction LP. Zodiac Pools Inc. R.E. Morris General Contractor Doug Parr Custom Homes Kenneth Graham LLC Evans Custom Homes Insite Construction Group Texas LLC Shipley Brothers Inc. Pierce Custom Concrete

AMOUNT $45,818.53 $17,894.54 $119,999.96 $92,841.00 $246,303.09 $363,631.86 $218,549.50 $340,000.00 $89,973.89 $12/23/2014

REC. DATE 12/05/2014 12/09/2014 12/09/2014 12/11/2014 12/11/2014 12/12/2014 12/22/2014 12/22/2014 12/22/2014 12/23/2014

MECHANICS LIENS NAME/ADDRESS Joshua and Paula Bates, 1818 Andover Lane, Corinth Yoland Andre Mathis, 4040 Meandering Trail, Little Elm John and Amy Stevens, 6525 Belle Cote Circle, Argyle Barry J. and Deborah D. Butler, 11440 Bois D’Arc, Ponder Danni Jo Dunn, 14831 FM2449, Ponder Clayton and Gabriela Jones, 6533 Shoreline Drive, Little Elm Mark and Ashley Harpool, 9640 Wilson Road, Pilot Point David R. and Jennifer J. Speiser, 4646 Odneal Road, Krum Tony Tompkins, 1963 Crockett St., Sanger Robert and Jennifer Friday, 2960 Blackjack Road, Aubrey

The following sales permits were issued by the state comptroller’s office for December. The list includes the owner, name of business and address within area codes 76210, 76226, 76227, 76234, 76249, 76258 and 76266.

Enterprising Voices

SALES | CONTINUED FROM PAGE 20

ALAGOOD | CONTINUED FROM PAGE 6

SALES TAX

76210 Armaband LLC, Armaband LLC, 1700 Thorndale Court, Corinth Aymen M. Brown, Vivid Allure, 7004 Crenshaw Lane, Denton Jon E. Kingston, The Clubhouse Sandwich Shop, 1910 Sharon Drive, Corinth Lance Hill, Grill This BBQ Supply, 9067 Teasley Lane, Denton Renal Treatment Centers - Southeast LP., Denton Dialysis No. 05024, 3305 Unicorn Lake Blvd., Denton 76226 Argyle Storage Company, Argyle Storage Company, 7433 Fort Worth Drive, Denton EQ3 LLC, EQ3 LLC, 436 Bent Creek Cove, Argyle

Kroger Texas LP, Kroger No. 572, 3400 FM407E, Bartonville Kroger Texas LP, Kroger No. 572, Fuel Center, 3400 FM407E, Suite 100, Bartonville

Jim K. Hooper, Tactical Firearms, 345 County Road 4293, Decatur Mark Allen Puckett, Unique Treasures, 866 Fossil Ridge Road, Decatur

76227 Dong-Jin Na, Metro PCS, 11350 US Highway 380, No. 130, Cross Roads Milestone Events LLC, Milestone Events LLC, 1301 W. Sherman Drive, Aubrey

76249 Carole Anne Lanier, Carole's Creations, 1627 Withers Way, Krum Jose Delgado Diamond Autocycle, 11525 US Highway 380 W., Krum

76234 Bandon Holdings LLC, Anytime Fitness, 1401 N. Highway 287, Suite 200, Decatur Heat Wave Bed Bug Control LLC, Heat Wave Bed Bug Control LLC, 922 County Road 4481, Decatur JC3 Truck Repair LLC, JC3 Truck Repair LLC, 302 S. US Business 81-287, Decatur

76258 Pedro's Tex Mex & Grill No. 1 LLC, Pedro's Tex Mex & Grill, 209 S. Washington St., Pilot Point 76266 Kelly Kinser, Kelly Kinser Ranch, 7111 Davidson Road, Sanger

CASUALTY Damage to the leased premises caused by fire, earthquake, flood or other casualty that renders the property unsuitable for continued occupancy terminates the leasehold estate. Any prepaid rental on the date of casualty is not refundable unless allowed by the lease. Typically, the parties will negotiate the specific events that

will render the leased premises so untenable that the lease will terminate. In the event of a casualty that only affects a portion of the leased premises, the parties will normally negotiate how the tenancy will continue and how rent may be abated. R. SCOTT ALAGOOD is board-certified in commercial and residential real estate law and can be reached at alagood @dentonlaw.com.

24 Denton Business Chronicle

January 2015