HomeMy WebLinkAboutTax Increment Financing District Board-Minutes-1/27/2021
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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 27, 2021
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 January 27, 2021, at 12:00 p.m.
ROLL CALL: Chairman Richard Newton, Vice Chairman George Dodson and
Directors Chuck Kelley, Callie Rigney, Kathy Wheat, Carole Bracken, and J. R.
Labbe.
ABSENT: Director Rebecca Barksdale and Director John Eubanks.
ALSO PRESENT: Finance Director Kyle Lester, City Manager Jerry Ducay,
Assistant City Manager Adrienne Lothery, Assistant City Manager Mark Wood, and
Secretary Christine Loven.
2. PRESENTATION AND DISCUSSION
2a Fiscal Year 2020 year-end update
Finance Director Kyle Lester 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.
Director Lester stated all cost projections in the project plans are estimates and
are not a limitation, and noted revenue from GCISD participation may not be
used on any project category added by the 2012 amendment. He further noted
only revenue from City participation can be used in the TIF Grants category.
Director Lester stated an updated Five-Year Working Plan will be brought before
the Board at the July meeting, per the TIF Bylaws, but he wanted to review the
plan through 2020.
During the review, Director Lester noted the City had confirmed with the TIF
Consultant, there were over $5.5 million in TIF-eligible projects were funded by
CEDC bonds, which included City Park, Library, and City Hall projects. Staff
reimbursed the CEDC for the TIF-eligible projects, which allowed the CEDC bonds
to be called and saved over $600,000 in interest.
3. ADJOURNMENT
Tax Increment Financing District MINUTES January 27, 2021
City of Colleyville Page 2
There being no further business before the Tax Increment Financing District
Board, Chairman Newton adjourned the meeting at 12:15 p.m.
APPROVED ON THIS THE 28TH DAY OF SEPTEMBER 2021.
Minutes taken and prepared by:
Christine Loven, TRMC
Secretary