HomeMy WebLinkAboutTax Increment Financing District Board-Minutes-1/27/2022
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
Thursday, January 27, 2022
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, 2022, at 12:03 p.m.
ROLL CALL: Chairman Richard Newton, Vice Chairman George Dodson, and
Directors Susan Alanis, Rebecca Barksdale, John Eubanks, Callie Rigney, and
Kathy Wheat.
ABSENT: Directors Mark Hallman and Chuck Kelley.
ALSO PRESENT: Finance Director Kyle Lester, City Manager Jerry Ducay,
Assistant City Manager Adrienne Lothery, Accounting Manager Karen Hines, and
Secretary Christine Loven.
2. PRESENTATION AND DISCUSSION
2a Fiscal Year 2021 year-end update
Finance Director Kyle Lester presented this item, gave a brief, high-level
presentation of the TIF’s financial position through the end of FY2021. Director
Lester gave an overview of the project plans, noting when the TIF was created it
had a project plan with an estimated total TIF receipt value of $35 million. In
2012 the project plan was amended to expand authorized spending categories
and the revenue estimate for all participants was calculated to be $44.5 million.
Director Lester reviewed the expenditures to date, the reconciliation process and
documents, and the five-year working plan. He 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 provided FY2021 highlights which included the sales tax bond
payoff, projects at City Park, Colleyville Library, City Hall, the SH26 corridor and
gateway beautification projects, land purchases, the Colleyville Business Center,
and the gift card programs for economic development.
There was general discussion of the property acquisitions and how they will be
redeveloped for economic purposes and the planned amenities for the northern
gateway.
Tax Increment Financing District MINUTES January 27, 2022
City of Colleyville Page 2
3. ADJOURNMENT
There being no further business before the Tax Increment Financing District
Board, Chairman Newton adjourned the meeting at 12:26 p.m.
APPROVED BY A VOTE OF 6 AYES, 0 NAYS, ON THIS THE 21ST DAY OF JULY
2022.
Minutes taken and prepared by:
Christine Loven, TRMC
Secretary