HomeMy WebLinkAboutTax Increment Financing District Board-Minutes-07/24/2017
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 24, 2017
12:00 p.m.
Executive Conference Room
Third Floor, City Hall
The Tax Increment Financing District Board of Directors meeting was called to
order by Chairman Richard Newton on July 24, 2017, at 12:00 p.m.
ROLL CALL: Chairman Richard Newton, Vice Chairman Mike Taylor, Directors
Bobby Lindamood, Mark McClendon, Scott Rule, and John Eubanks.
ABSENT: Directors Nancy Coplen, Tammy Nakamura, and Rebecca Barksdale
ALSO PRESENT: City Manager Jerry Ducay, Assistant City Manager/Economic
Development and Communications Director Mark Wood, Strategic Services
Manager Adrienne Lothery, Chief Financial Officer Shereen Gendy, and Assistant
City Secretary Christine Loven
2. CONSENT: READING AND PUBLIC HEARING- Resolution R-17-01
2a Approval of the minutes of the Tax Increment Financing District
Board of Directors meeting of July 25, 2016
Chairman Newton read Resolution R-17-01 in its entirety.
Chairman Newton opened the public hearing at 12:04 p.m.
There was no one present wishing to speak and Chairman Newton closed the
public hearing at 12:04 p.m.
Vice Chairman Taylor moved to approve Resolution R-17-01. Director Lindamood
seconded the motion.
The motion to approve carried by the following vote:
Aye: 6 - Chairman Richard Newton, Vice Chairman Mike Taylor, Directors Bobby
Lindamood, Mark McClendon, Scott Rule, and John Eubanks
Absent: 3 - Directors Nancy Coplen, Tammy Nakamura, and Rebecca Barksdale
3. PRESENTATION AND DISCUSSION
3a Review and discuss the status of the Colleyville Tax Increment
Financing District
Tax Increment Financing District MINUTES July 24, 2017
City of Colleyville Page 2
Strategic Services Manager Adrienne Lothery presented the annual update of the
TIF and briefed the Board.
Vice Chairman Taylor said he challenges the date of Hall-Johnson Road being
added to the TIF, believing it was part of the original TIF, not added by
amendments. Manager Lothery stated she will check and respond appropriately.
Director McClendon stated he has seen that the most successful TIFs have been
those who have a clear vision. Meaning, it is fine to have a plan for allocation of
the money, but not to continue to think the funds must be spent within a specific
category. Director McClendon stated having a vision of where the City wants to
be will allow for success for all TIF partners.
Director Eubanks asked staff for a reconciliation of TIF revenues and
expenditures, and a planned projects strategy. Manager Lothery noted there are
several new employees at the City with a fresh perspective and she believes
2018 going forward will provide for projects and vision.
Director McClendon stated early completion of projects allows the City to have
full use of funds throughout the City, not only within the confines of the TIF
boundaries.
Manager Lothery noted the TIF consultant has indicated there may be
opportunities to fund projects which feed the TIF District, but are not within the
boundaries, and the City will be evaluating those opportunities and will bring the
information to the Board.
City Manager Ducay stated in the coming months, the records will be reviewed
and the City will bring forward a five-year plan and an accounting of expenditures
versus project categories, a forecast of future revenues, and balances available
for allocation.
There was general discussion regarding the costs of the Highway 26 and Glade
Road projects and the development of a project plan.
Director Taylor noted there is a new City Council, new City Manager, and new
Directors and there needs to be a change in the project plan and accountability.
4. ADJOURNMENT
There being no further business before the Tax Increment Financing District
Board, Chairman Newton adjourned the meeting at 1:10 p.m.
APPROVED BY A VOTE OF 7 AYES, 0 NAYS, AND 0 ABSTENTIONS, ON THIS THE
30TH DAY OF JULY 2018.
Tax Increment Financing District MINUTES July 24, 2017
City of Colleyville Page 3
Minutes taken and prepared by:
Christine Loven, TRMC
City Secretary