HomeMy WebLinkAboutTax Increment Financing District Board-Minutes-11/28/2012,.:%~~ `-'~ City of Colleyville
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C(~3LLEYVILLE 100 Main Street
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Tax Increment Financing 817.503.1000
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District Board
Agenda
Tuesday, July 17, 2012 City Hall
11:30 a.m. Executive Conference Room
1. CALL TO ORDER
2. CONSENT: READING AND PUBLIC HEARING - Resolution R-12-01
2a Approval of the minutes of the Tax Increment Financing District Board of
Directors meeting of July 20, 2011
3. PRESENTATION AND DISCUSSION
3a Presentation of the Annual Tax Increment Financing District Report
3b Review and discuss the status of the Colleyville Tax Increment Financing
District
4. AD)OURNMENT
I hereby certify this agenda was posted on City Hall bulletin boards, Friday, July 13,
2012, by 5: 00 p. m.
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Cynthia Singleton, TRMC, CMC
City Secretary
Any matter on this agenda may, at the discretion of the governing body, be opened
for public comment and discussion.
If you plan to attend this public meeting and have a disability that requires special
accommodations, please advise the Executive Secretary at least 48 hours in advance
at 817.503.1110, and reasonable accommodations will be made to assist you.
~' " "~ Cit of Colle ville
~ y v ~ity Hall
~a EYVILLE 100 Main Street
~~j~f~~~~~' ~r~~sM~z~ Colleyville, Texas 76034
Tax Increment Financing 817.503.1000
~'- ~ ~'' www.colleyville.com
District Board
Minutes
Tuesday, July 17, 2012 City Hall
11:30 a.m. Executive Conference Room
The Tax Increment Financing District Board of Directors meeting was called to order
by Chairman David Kelly at 11:36 a.m.
ROLL CALL: Directors Mike Taylor, Michael Muhm, Carol Wollin, John Eubanks, Mark
McClendon, and Carolyn Sims were present. Chairman David Kelly, City Manager
Jennifer Fadden, Assistant City Manager and Chief Financial Officer Terry Leake,
Economic Development Director Marty Wieder, Finance Manager Karen Hines, and
City Secretary Cynthia Singleton were also present.
Directors Tom Hart and Scott Rule were absent.
2. CONSENT: READING AND PUBLIC HEARING - Resolution R-12-01
2a Approval of the minutes of the Tax Increment Financing District Board of
Directors meeting of July 20, 2011
Chairman Kelly read Resolution R-12-01 in its entirety.
Chairman Kelly opened the public hearing.
There was no one present wishing to speak and Chairman Kelly closed the public
hearing.
Director Wollin moved to approve Resolution R-12-01.
Vice-Chairman Taylor seconded the motion.
The motion carried by the following vote:
Aye: David Kelly, Mike Taylor, Michael Muhm, Carol Wollin, John Eubanks, Mark
McClendon, Carolyn Sims
Absent: Tom Hart, Scott Rule
Tax Increment Minutes July 17, 2012
Financing District
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 (TIF) District report and answered questions of the Board of
Directors.
Discussion ensued regarding TIF revenues and expenditures.
3b Review and discuss the status of the Colleyville Tax Increment Financing
District
Assistant City Manager and Chief Financial Officer Terry Leake provided a historical
overview of the TIF District, reviewed the project plan, contributed tax rate by entity,
commitments, growth, asset categories, repurchase agreements, payment process,
status of project plans, and answered questions of the Board of Directors.
Discussion ensued regarding project plans, asset repurchases, options available
through the TIF, and State Highway 26 (SH26) reconstruction.
City Manager Jennifer Fadden stated at the direction of City Council, staff is in the
process of analyzing options available through the TIF, including reallocations,
investments, and terms. She further stated the earliest date for a possible collapse
of the TIF would be 2016. Ms. Fadden stated staff will provide the analysis to the
City Council and at their direction, to the Board. City Manager Fadden noted the
SH26 reconstruction project is moving ahead and as part of the next phase, which is
John McCain Road to Centerpark Drive, the City is responsible for relocating utilities
and may be looking at the TIF as a possible funding source. If that becomes the
case, the City will make a presentation to the Board for consideration in the next
quarter.
Discussion ensued regarding the growth of Tarrant County College and impact on the
community, infrastructure, and future of the TIF.
4. ADJOURNMENT
There being no further business before the Tax Increment Financing District Board,
Chairman Kelly adjourned the meeting at 12:49 p.m.
Tax Increment
Financin D~ ic
Minutes ake a
Minutes
July 17, 2012
~
hia ~leton, TRMC, CM
City Secretary
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