HomeMy WebLinkAboutTax Increment Financing District Board-Minutes-1/18/2023
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
Wednesday, January 18, 2023
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 Bobby Lindamood on January 18, 2023, at 12:02 p.m.
ROLL CALL: Chairman Bobby Lindamood, Vice Chairman George Dodson, and
Directors John Eubanks, Shannon Fletcher, Callie Rigney, and Kathy Wheat.
ABSENT: Directors Theresa Parsons, Ronnie Watkins, 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.
Chairman Lindamood thanked Directors George Dodson and Kathy Wheat for
their service and noted this will be their last meeting as both will term-out in
May.
2. PRESENTATION AND DISCUSSION
2a FY2022 year-end update
Finance Director Kyle Lester presented this item, gave a brief, high-level
presentation of the TIF’s background, purpose, participants, and financial position
through the end of FY2022. 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.
Director Lester provided the 5-year plan highlights which included the Colleyville
Gateways, Cheek-Sparger County Bond, Nature Center Trail, Robert’s Road
repair, and the Senior Center.
Tax Increment Financing District MINUTES January 18, 2023
City of Colleyville Page 2
There was general discussion of the projects in the 5-year plan and how the
property acquisitions will be redeveloped for economic growth.
3. ADJOURNMENT
There being no further business before the Tax Increment Financing District
Board, Chairman Lindamood adjourned the meeting at 12:37 p.m.
APPROVED BY A VOTE OF 7 AYES, 0 NAYS, ON THIS THE 26TH DAY OF JULY
2023.
Minutes taken and prepared by:
Christine Loven, TRMC
Secretary