The URL can be used to link to this page

Home My WebLink AboutTax Increment Finance (TIF)-Agenda Packets-07/29/2025 City of Colleyville Page 1 CITY OF COLLEYVILLE TAX INCREMENT FINANCING DISTRICT BOARD AGENDA 100 Main Street, Colleyville, Texas, 76034 Executive Conference Room - Third Floor TUESDAY, JULY 29, 2025 - 12:00 PM 1. CALL TO ORDER 2. CONSENT: READING AND PUBLIC HEARING - RESOLUTION R-25-01 2a Approval of the July 26, 2023 Tax Increment Financing District Board Meeting Minutes 2b Approval of the July 24, 2024, Tax Increment Financing District Board Meeting Minutes 3. PRESENTATION AND DISCUSSION 3a Review and discussion of the status of the Colleyville Tax Increment Financing District 4. ADJOURNMENT I hereby certify this agenda was posted on City Hall bulletin boards Friday, July 25, 2025, by 5:00 p.m. Christine Loven, TRMC City Secretary A quorum of any Colleyville board, commission, or committee may be present at this meeting. 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 City Secretary at least 48 hours in advance at 817.503.1133, and reasonable accommodations will be made to assist you. RESOLUTION R-25-01 A RESOLUTION APPROVING MINUTES OF THE TAX INCREMENT FINANCING DISTRICT BOARD OF DIRECTORS MEETING WHEREAS, the Colleyville Tax Increment Financing District Board of Directors held a meeting on July 29, 2025. NOW, THEREFORE, BE IT RESOLVED BY THE TAX INCREMENT FINANCING DISTRICT BOARD OF DIRECTORS OF THE CITY OF COLLEYVILLE TEXAS: Sec 1. THAT the minutes of the Tax Increment Financing District Board of Directors meeting held July 26, 2023 are hereby approved. Sec. 2. THAT the minutes of the Tax Increment Financing District Board of Directors meeting held July 24, 2024, are hereby approved. AND IT IS SO RESOLVED. APPROVED BY A VOTE OF _ AYES, _ NAYS, ON THIS THE 29TH DAY OF JULY 2025. ATTEST: COLLEYVILLE TAX INCREMENT FINANCING DISTRICT BOARD Christine Loven, TRMC Bobby Lindamood City Secretary Chairman City of Colleyville Page 1 CITY OF COLLEYVILLE TAX INCREMENT FINANCING DISTRICT BOARD MINUTES 100 Main Street, Colleyville, Texas, 76034 Executive Conference Room - Third Floor WEDNESDAY, JULY 26, 2023 – 12:00 P.M. The Tax Increment Financing District Board of Directors meeting was called to order by Chairman Bobby Lindamood on July 26, 2023, at 12:04 p.m. ROLL CALL: Chairman Bobby Lindamood, and Directors George Bond, John Eubanks, Shannon Fletcher, Ben Graves, Chuck Kelley, and Callie Rigney. ABSENT: Directors Theresa Parsons and Ronnie Watkins. ALSO PRESENT: Finance Director Kyle Lester, City Manager Jerry Ducay, Assistant City Manager Adrienne Lothery, Accounting Manager Karen Hines, and Secretary Christine Loven. 2. CONSENT: READING AND PUBLIC HEARING - RESOLUTION R-23-01 2b Approval of the July 21, 2022 Tax Increment Financing District Board Meeting Minutes 2c Approval of the January 18, 2023 Tax Increment Financing District Board Meeting Minutes Chair Lindamood read Resolution R-23-01 in its entirety. Chair Lindamood opened and closed the public hearing without any speakers. Chair Bobby Lindamood made a motion to approve Resolution R-23-01, seconded by Director Shannon Fletcher. The motion to approve carried by the following vote: Ayes: 7 – Chair Lindamood, and Directors Bond, Eubanks, Fletcher, Graves, Kelley, and Rigney. 3. PRESENTATION AND DISCUSSION 3a Review and discussion of the status of the Colleyville Tax Increment Financing District City of Colleyville Page 2 Tax Increment Financing District Board Minutes July 26, 2023 Finance Director Kyle Lester provided information on the background and purpose of the TIF, the TIF map, timelines, original and amended project plans, the TIF taxable value, and participants. He then reviewed the 2023 year to date revenues and expenses noting an aggressive capital plan and active projects to include Glade Road improvements, Highway 26, City Hall renovations, economic development grants, fire station renovations, work on the City’s trails and Justice Center, and drainage improvements. There was general discussion of the Cheek-Sparger Road and towers projects. 4. ADJOURNMENT There being no further business before the Board, Chair Lindamood adjourned the meeting at 12:38 p.m. MINUTES APPROVED THIS 29TH DAY OF JULY 2025. Minutes taken and prepared by: Christine Loven, TRMC City Secretary City of Colleyville Page 1 CITY OF COLLEYVILLE TAX INCREMENT FINANCING DISTRICT BOARD MINUTES 100 Main Street, Colleyville, Texas, 76034 Executive Conference Room - Third Floor WEDNESDAY, JULY 24, 2024 – 12:00 P.M. The Tax Increment Financing District Board of Directors meeting was called to order by Chairman Bobby Lindamood on July 24, 2024, at 12:08 p.m. ROLL CALL: Chairman Bobby Lindamood, and Directors Tammy Nakamura, Kimberly Holt Gunderson, Tim Raine, and Ben Graves. ABSENT: Directors Brandi Elder, Theresa Parsons, Shannon Fletcher, and Ronnie Watkins. ALSO PRESENT: Finance Director Matt Poston, City Manager Jerry Ducay, Assistant City Manager Adrienne Lothery, Accounting Manager Karen Hines, and Secretary Christine Loven. 2. CONSENT: READING AND PUBLIC HEARING - RESOLUTION R-24-02 2a Approval of the minutes of the June 18, 2024, Tax Increment Financing District Board of Directors Meeting Chair Lindamood read Resolution R-24-02 in its entirety. Chair Lindamood opened and closed the public hearing without any speakers. Director Nakamura made a motion to approve Resolution R-24-02, seconded by Director Holt Gunderson. The motion to approve carried by the following vote: Ayes: 5 – Chair Lindamood, and Directors Nakamura, Holt Gunderson, Raine, and Graves. 3. PRESENTATION AND DISCUSSION 3a Review and discussion of the status of the Colleyville Tax Increment Financing District City of Colleyville Page 2 Tax Increment Financing District Board Minutes July 24, 2024 Finance Director Matt Poston provided information on the background, purpose, and benefits of the TIF, the TIF map, timelines, original and amended project plans, the TIF taxable value, and participants. He then reviewed the TIF history for the past five years, before discussing the FY 25 timelines and the FY24 highlights, and year to date revenues and expenditures. Director Poston review the FY2025 Proposed Budget and Capital Plan. There was general discussion of the Northern Gateway, and the Economic Development Gift Cards. Director Nakamura, on behalf of GCISD thanked the Board for the recent project plan which allows for funding of the School Resource Officers. 4. ADJOURNMENT There being no further business before the Board, Chair Lindamood adjourned the meeting at 12:34 p.m. MINUTES APPROVED THIS 29TH DAY OF JULY 2025. Minutes taken and prepared by: Christine Loven, TRMC City Secretary City of Colleyville Page 1 CITY OF COLLEYVILLE TAX INCREMENT FINANCING DISTRICT BOARD BRIEFING Agenda Number 3a Agenda Date 7/29/2025 Number 3a Type Presentation and Discussion Department City Secretary Title Review and discussion of the status of the Colleyville Tax Increment Financing District Explanation Staff will provide highlights of major projects and a status update of the Five-Year Working Plan for the Colleyville Tax Increment Financing District. Attachments 1. TIF FY 2025 & 2026 CIP Budget 2. TIF FY 2026 Budget 3. TIF FY 2025 YTD FY 2025 TIF Other Total Bedford Rd Roundabout (at Cheek-Sparger) Design 300,000 - 300,000 Cheek-Sparger Road (Heritage to Bedford) Design 1,000,000 - 1,000,000 FY25 Drainage Improvements 50,000 50,000 100,000 FY25 Green Ribbon SH 26 & Longwood 145,000 400,000 545,000 Heroes Park Construction 3,500,000 - 3,500,000 John McCain Rd Bridge and Curve Improvements Design 50,000 - 50,000 Recreation Center Fence and Signage 150,000 200,000 350,000 SH26 Christmas Decorations 100,000 - 100,000 SH26 Electricity in Medians 550,000 - 550,000 Sidewalk Connectivity - Montclair Construction 200,000 300,000 500,000 Water Project 11 - Tinker Road Water/Drainage/Roadway Rehab 200,000 800,000 1,000,000 Wayfinding Signage - Phase II 75,000 - 75,000 6,320,000$ 1,750,000$ 8,070,000$ FY 2026 TIF Other Total Bidault House Landscaping 120,000 - 120,000 Business Christmas Light Grant Program 50,000 - 50,000 Cheek-Sparger Road (Heritage to Bedford) Design 2,500,000 - 2,500,000 Christmas Lights - new medians 50,000 - 50,000 City Hall & Library Renovations (Wall paper removal)75,000 195,000 270,000 City Hall/Library - Elevator CPU System Upgrade 170,000 - 170,000 Digital Events Signage 100,000 - 100,000 Economic Development 1,000,000 - 1,000,000 Economic Development Initiative/Business Center 175,000 - 175,000 Flags, poles & electricity at Gateways 150,000 - 150,000 Heroes Park Construction 3,500,000 - 3,500,000 Justice Center Improvements & Landscaping 100,000 150,000 250,000 Library Makerspace Laboratory 100,000 - 100,000 Plaza Stone / Loggia & Stage Roof Restoration 350,000 - 350,000 School Beautification Grant Program 50,000 50,000 100,000 Village Business Occupancy Incentive Program 75,000 - 75,000 Website Design 100,000 - 100,000 8,665,000$ 395,000$ 9,060,000$ City of Colleyville CIP Plan Tax Increment Finance City of Colleyville 2026 2027 2028 2029 2030 2031 TIF Fund Projection Revised Estimate Proposed Budget Revenues: Current Taxes 7,967,972 6,600,000 6,666,000 6,932,640 7,001,966 7,071,986 7,142,706 Investment Income/(Losses)50,421 35,000 35,350 36,764 37,132 37,503 37,878 Colleyville Business Ctr Rev 49,702 50,000 50,500 52,520 53,045 53,576 54,111 Total Revenues 8,068,095 6,685,000 6,751,850 7,021,924 7,092,143 7,163,065 7,234,695 Expenses: Administration - VOA Dues 209,359 35,000 35,700 36,414 37,142 37,885 38,643 Administration 24,744 25,000 25,500 26,010 26,530 27,061 27,602 Economic Development - Economic Devlpmt Grant 1,200,000 1,000,000 600,000 300,000 100,000 100,000 100,000 Eng Prof Svcs - Salaries & Benefits 70,121 73,468 76,389 79,273 82,426 85,705 89,115 Parks Maintenance - Salaries & Benefits 208,191 224,258 233,228 242,557 252,260 262,350 272,844 Parks Maintenance - Misc. Contractual Services 1,200 - - - - - - Streets Maintenance - Misc. Contractual Services 3,500 - - - - - - Colleyville Business Center 255,369 128,500 131,070 133,691 136,365 139,093 141,874 GCISD SRO 900,000 900,000 900,000 900,000 900,000 900,000 900,000 Total Expenses 2,872,485 2,386,226 2,001,887 1,717,946 1,534,723 1,552,093 1,570,078 Operating Transfers: Total Operating Transfers In/(Out)(235,000) (235,000) (235,000) (235,000) (235,000) (235,000) (235,000) Operating Surplus/(Deficit)4,960,610 4,063,774 4,514,963 5,068,978 5,322,420 5,375,971 5,429,617 Proceeds from sale of land - - 3,000,000 3,000,000 - 16,000,000 - Interfund Loan Repayment - - (3,000,000) (3,000,000) - (13,134,261) - Capital Expenditures*(9,487,668) (8,665,000) (7,955,000) (3,850,000) (125,000) - - Net Change in Available Funds (4,527,058) (4,601,226) (3,440,037) 1,218,978 5,197,420 8,241,710 5,429,617 Available Funds, beginning 1,493,998 (3,033,060) (7,634,286) (11,074,323) (9,855,344) (4,657,924) 3,583,786 Available Funds, ending (3,033,060) (7,634,286) (11,074,323) (9,855,344) (4,657,924) 3,583,786 9,013,403 * - See more detail in CIP 5-year Plan 2025 Projected Budget City of Colleyville - TIF FY 2025 Y-T-D Original PP Amended PP Total Taxes: GCISD 3,591,599$ -$ 3,591,599$ Colleyville 1,373,499 63,859 1,437,358 TCCC - 597,577 597,577 Other: CBC - 42,281 42,281 Investment Income - 40,267 40,267 Other/Misc - 67,381 67,381 Total Revenue 4,965,098 811,365 5,776,463 Expenses: Colleyville Gateways 1,314,131 - 1,314,131 Heroes Park - 990,113 990,113 VOA Dues 958,682 - 958,682 Economic Development - 846,365 846,365 SH26 529,896 529,896 Admin Expenses 235,000 - 235,000 Beautification - 127,323 127,323 Glade Road - 77,383 77,383 Wayfinding Signage - 70,000 70,000 Trails/Amentities - 69,440 69,440 Cheek-Sparger - 56,388 56,388 Central Fire Station Renovation 45,675 - 45,675 Property Taxes 24,744 - 24,744 City Hall Grounds 19,859 - 19,859 Senior Center 1,177 - 1,177 Tinker Road - 950 950 Total Expenses 3,129,164 2,237,962 5,367,126 Operating Surplus/(Deficit)1,835,934$ (1,426,597)$ 409,337$