HomeMy WebLinkAboutTax Increment Financing District Board-Minutes-9/17/2015
City of Colleyville Page 1
City of Colleyville
Tax Increment Financing
District Board
MINUTES
City Hall
100 Main Street
Colleyville, Texas 76034
817.503.1000
www.colleyville.com
Wednesday, September 17, 2014
12:00 - Noon
Executive Conference Room
Third Floor, City Hall
The Tax Increment Financing District Board of Directors meeting was called to
order by Chairman David Kelly on September 17, at 12:08 p.m.
ROLL CALL: Chairman David Kelly, Vice Chairman Mike Taylor, Directors Tom
Hart, Jody Short, Carol Wollin, Stan Vick for Director Mark McClendon, Carolyn
Sims, and John Eubanks.
Absent: Director Scott Rule
City Manager Jennifer Fadden, Assistant City Manager and Chief Financial Officer
Terry Leake, Economic Development Director Marty Wieder, Strategic Services
Manager Adrienne Lothery, Finance Manager Karen Hines, and Assistant City
Secretary Christine Loven.
2. CONSENT: READING AND PUBLIC HEARING- Resolution R-14-01
2a Approval of the minutes of the Tax Increment Financing District Board of
Directors meeting of July 16, 2013
Chairman Kelly read Resolution R-14-01 in its entirety.
Chairman Kelly opened the public hearing at 12:09 p.m.
Director Jody Short stated he asked the July 16, 2013 TIF minutes be corrected,
reflecting that Chairman Kelly adjourned Executive Session at 4:58 p.m., instead
of 4:38 p.m. as the regular meeting was not recessed until 4:40 p.m. to move into
Executive Session, and the corrected minutes were provided to the Board.
There was no one present wishing to speak and Chairman Kelly closed the public
hearing at 12:09 p.m.
Director Wollin moved to approve Resolution R-14-01, approving the minutes as
corrected.
Chairman David Kelly seconded the motion.
The motion to approve carried by the following vote:
Tax Increment Finance District Minutes September 17, 2014
City of Colleyville Page 2
Aye: 8 - Chairman David Kelly, Vice Chairman Mike Taylor, Directors Tom
Hart, Jody Short, Carol Wollin, Stan Vick for Director Mark McClendon, Carolyn
Sims, and John Eubanks.
Absent: 1 – Director Scott Rule
3. PRESENTATION AND DISCUSSION
3a Presentation of the Annual Tax Increment Financing District Report
Assistant City Manager and Chief Financial Officer Terry Leake presented the
Annual Tax Increment Financing District Report and briefed the Board.
Chairman Kelly restated the final bond payment would be made in 2020.
3b Review and discuss the status of the Colleyville Tax Increment Financing
District
Assistant City Manager and Chief Financial Officer Terry Leake presented a status
report of the Tax Increment Financing District.
Chairman Kelly stated the construction figures were for completed projects in
2013. Assistant City Manager / Chief Financial Officer Terry Leake concurred.
Chairman Kelly stated the Village asset repurchase agreement terminated this
spring and asked if a reserve is kept. Assistant City Manager / Chief Financial
Officer Terry Leake explained the asset repurchase verification process and noted
there are alternate methods of acceptance.
Director Eubanks asked what expenses were budgeted in the administrative
expenses of $1,700,000. City Manager Jennifer Fadden stated the administrative
fee line item reflects funds for studies, audits, and general administration over the
remaining 17 years of the TIF, and the funds could also be used in other
categories.
Director Eubanks asked what dollar amount has been budgeted for Highway 26.
City Manager Jennifer Fadden stated $4.85 million.
4. ADJOURNMENT
There being no further business before the Tax Increment Financing District Board,
Chairman Kelly adjourned the meeting at 12:45 p.m.
Tax Increment Finance District Minutes September 17, 2014
City of Colleyville Page 3
APPROVED BY A VOTE OF 7 AYES, 0 NAYS, AND 0 ABSTENTIONS, ON THIS THE
27TH DAY OF JULY 2015.
Minutes taken and prepared by:
Christine Loven
Assistant City Secretary