HomeMy WebLinkAboutTax Increment Financing District Board-Minutes-01/24/2019CVCY OF
COLLE�YVILLE
r T E X A S
City of Colleyville
Tax Increment
Financing District Board
MINUTES
City Hall
100 Main Street
Colleyville, Texas 76034
817. 503.1000
www.colleyville.com
Thursday, January 24, 2019 Executive Conference Room
12:00 p.m. Third Floor, City Hall
The Tax Increment Financing District Board of Directors meeting was called to
order by Chairman Richard Newton on January 24, 2019, at 12:06 p.m.
ROLL CALL: Chairman Richard Newton and Directors George Dodson, Kathy
Wheat, Bobby Lindamood, Tammy Nakamura, John Eubanks, and Mark
McClendon.
ABSENT: Directors Scott Rule and Rebecca Barksdale
ALSO PRESENT: City Manager Jerry Ducay, Assistant City Manager Adrienne
Lothery, Assistant City Manager Mark Wood, Accounting Manager Karen Hines,
and Assistant to the City Secretary Keera Seiger
2. PRESENTATION AND DISCUSSION
2a Review and discuss the status of the Colleyville Tax Increment
Financing District
Manager Lothery presented Item 2a, which included a review of the original and
amended project plans, expenditures to -date, a Five -Year working plan, and
answered questions of the Board.
Chairman Newton stated he has received questions from residents regarding
Glade Road, and noted $1.6 million has been the total amount spent on
everything done up to this point on Glade Road. Extra effort and time was spent
on Glade Road to get it done in a way that satisfies all citizens' issues the City is
aware of, so everyone is happy.
At the request of Mayor Newton, Manager Ducay explained the BEST Program is
an improvement program for businesses in Collevyille, whereby a business makes
tangible improvements to the exterior and/or interior of their building, that are
taxable benefits, which result in the business valuation increasing. The program
incentivizes Colleyville businesses to make improvements, and matches funding
up to $30,000. On the extreme end, the City also provides up to $100,000 for
businesses that completely tear down and rebuild their buildings when their
buildings no longer serve their purpose.
Mayor Newton and Manager Ducay mentioned businesses that have or will soon
take advantage of the BEST Program, which include Loveria Caffe, Lilium Florals,
an auto body shop, and The Londoner.
Tax Increment Financing District MINUTES January 24, 2019
Director McClendon asked if the TIF Board could consider discussing incentive
requests larger than $20,000 prior to their approval, to which Manager Ducay
replied traditionally the discussion is part of the budget process, which can move
rather quickly at times, and calling a meeting for smaller requests could become
onerous, but keeping all TIF members updated with regular notifications would be
a good idea and he has no problem with meeting to discuss larger incentive
requests. Manager Ducay stated all incentive requests go before City Council for
final consideration and approval.
There was further discussion regarding calling meetings for the ability to discuss
large incentive requests over a certain threshold, giving notification to the TIF
Board, Colleyville residents, and TIF rules and procedures.
3. ADJOURNMENT
There being no further business before the Tax Increment Financing District
Board, Chairman Newton adjourned the meeting at 12:54 p.m.
APPROVED BY A VOTE OF 5 AYES, 9-NAYS, AND 0 ABSTENTIONS, ON THIS THE
31ST DAY OF JULY 2019.
Minutes taken andd prepared by:
Keera Seiger
Assistant to the City Secretary