HomeMy WebLinkAboutTax Increment Financing District Board-Minutes-7/27/2015
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
Monday, July 27, 2015
12:30 p.m.
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 July 27, 2015, at 12:36 p.m.
ROLL CALL: Chairman David Kelly, Vice Chairman Mike Taylor, Directors Chuck
Mogged, Jody Short, Carol Wollin, Mark McClendon, and Rebecca Barksdale
Absent: Directors Scott Rule and John Eubanks
City Manager Jennifer Fadden, Deputy City Manager Chris Fuller, Strategic
Services Manager Adrienne Lothery, Finance Manager Karen Hines, and City
Secretary Amy Shelley
2. CONSENT: READING AND PUBLIC HEARING- Resolution R-15-01
2a Approval of the minutes of the Tax Increment Financing District
Board of Directors meeting of September 17, 2014
Chairman Kelly read Resolution R-15-01 in its entirety.
Chairman Kelly opened the public hearing at 12:37 p.m.
There was no one present wishing to speak and Chairman Kelly closed the public
hearing at 12:37 p.m.
Vice Chairman Mike Taylor moved to approve Resolution R-15-01. Director
Wollin seconded the motion.
The motion to approve carried by the following vote:
Aye: 7 - Chairman David Kelly, Vice Chairman Mike Taylor, Directors Chuck
Mogged, Jody Short, Carol Wollin, Mark McClendon, and Rebecca Barksdale
Absent: 2 – Directors Scott Rule and John Eubanks
3. PRESENTATION AND DISCUSSION
3a Presentation of the Annual Tax Increment Financing District Report
Strategic Services Manager Adrienne Lothery presented this item and briefed the
Board.
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Chairman Kelly asked staff about the Village agreement. City Manager Jennifer
Fadden explained the remainder of the Village agreement has been calculated,
and depending on current litigation, it will be determined how much of those
outstanding funds will be distributed.
3b Review and discuss the status of the Colleyville Tax Increment
Financing District
Strategic Services Manager Adrienne Lothery presented this item and briefed the
Board.
Chairman Kelly asked staff if the redevelopment of Colleyville Downs is reflected.
City Manager Jennifer Fadden replied it is included in the incremental value
increase from the original TIF, and submitted as of January 1.
Chairman Kelly asked staff what happens to the Town Center Agreement once
the TIF collapses. City Manager Jennifer Fadden replied the Agreement collapses.
Director Short asked staff about the Town Center projects. City Manager Jennifer
Fadden explained the funding outlined in the categories of the Town Center
Agreement must be spent in the categories delineated.
Vice Chairman Taylor asked staff if Town Center did the Church Street
renovation. City Manager Jennifer Fadden replied at least part of the Church
Street project had been funded by the TIF ($1,050,000) through the Town Center
Agreement.
Chairman Kelly asked staff about Village receipts for the portion they have been
paid. City Manager Jennifer Fadden replied yes, they have submitted receipts for
the portion they have been paid; however, they have not submitted receipts
since 2012.
Vice Chairman Taylor asked staff if the TIF could be collapsed with any qualifying
outstanding debt. Chairman Kelly stated the Village Agreement has already
terminated and expired, but they have filed a legal claim on what they believe is
owed to them. He added the Town Center Agreement has no termination date.
Vice Chairman Taylor asked staff if the $3 million, earmarked for those projects,
remains for those uses. City Manager Jennifer Fadden replied yes, $3 million has
been identified in the unallocated project plan balance. Chairman Kelly explained
it has been identified, but unencumbered.
Vice Chairman Taylor asked staff what the plaza refers to. City Manager Jennifer
Fadden explained the plaza may be anywhere in the TIF district.
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Vice Chairman Taylor asked staff what is considered downtown. City Manager
Jennifer Fadden stated she does not know that it is defined, but in the original
TIF she believed the Village was the original intent for downtown. Chairman Kelly
replied it is confusing since there are public buildings near the Town Center
development.
Chairman Kelly asked staff if the economic development grant program is solely
for Colleyville and no other funding partner. City Manager Jennifer Fadden replied
correct.
Director Mogged asked staff about how much of the $3.562 million remains from
the SH26 utility relocation. City Manager Jennifer Fadden stated she would have
to get that number to him, but that the vast majority has been spent.
Vice Chairman Taylor asked staff about the Glade Road project. City Manager
Jennifer Fadden explained the design up to the first point and the right-of-way for
the property the City purchased at Glade Road and Riverwalk Drive has been
completed.
Vice Chairman Taylor asked staff about the available funds. City Manager Jennifer
explained the cash available today is $6.7 million, and of the $27.2 million, $21.6
million has not been allocated.
Vice Chairman Taylor asked staff about the school district project. City Manager
Jennifer Fadden explained the school district has paid for the improvements
identified in the TIF.
Directors Mark McClendon and Rebecca Barksdale expressed their appreciation
about the TIF district.
4. ADJOURNMENT
There being no further business before the Tax Increment Financing District
Board, Chairman Kelly adjourned the meeting at 1:03 p.m.
APPROVED BY A VOTE OF 9 AYES, 0 NAYS, AND 0 ABSTENTIONS, ON THIS THE
25TH DAY OF JULY 2016.
Minutes taken and prepared by:
Amy Shelley, TRMC
City Secretary