Loading...
HomeMy WebLinkAboutTIF1 1999-12-10 MinutesREINVESTMENT ZONE NUMBER 1, CITY OF NORTH RICHLAND HILLS BOARD OF DIRECTORS MEETING December 10, 1999 MINUTES Attendance: Chairman Charles Scoma, Mayor, City of North Richland Hills JoAnn Johnson, Councilwoman, City of North Richland Hills Lyle E. Welch, Councilman, City of North Richland Hills Frank Metts Jr., Councilman, City of North Richland Hills Dr. Larry Darlage, President, Tarrant County Junior College-Northeast Campus Jane Sanford, Precinct 3 Administrator, Tarrant County Dolores Webb, Trustee, Birdville Independent School District Staff/Guests Present: Larry Cunningham, Zone Manager & City Manager, City of North Richland Hills David Brewer, Associate Superintendent, Finance, Birdville ISD Lisa McMillan, Economic Development Coordinator, Tarrant County Larry Koonce, Director of Finance, City of North Richland Hills Marty Wieder, Director of Economic Development, City of North Richland Hills Ashley Stathatos, Marketing/Research Coordinator, City of North Richland Hills Phyl Baloga, Adm. Secretary to Economic Development, City of North Richland Hills Mayor Scoma called the meeting to order at 7:30 a.m. The Mayor asked Marty Wieder to review the Richland Business Centre project. Marty reported that according to Greg Dickens, Director of Public Works, the Mackey Creek drainage project is 95% finished. Public Works expects completion by the end of the month. 2. Larry Koonce, Director of Finance, noted that the TIF Financing Plan included a schedule to pay off the bond debt in 10 years. One year later, the figures are more encouraging than originally stated. Approximately $4.7 million has been spent on exterior. This does not include tenant finish out. The $4.7 million figure is conservative. As of January 1, 2000 these improvements will be on the tax roll. TIF will be able to collect as of spring 2001. Overall the figures show $1 million dollars ahead of the earlier predicted amounts. Marty Wieder remarked that these figures are extremely conservative because the square foot prices are higher in an office/flex-type space. 3. Mayor Scoma introduced Roy Owens, an Associate with Calloway Architects. Roy thanked everyone for their support. Tony Calloway of Calloway Architects is the coordinator of the project as well as part owner of Today's Richland Centre LP. He is currently out of town and unable to attend today's meeting. 2 The Richland Plaza/Business Centre project started back in August 1998. The original construction budget of $4.9 million has jumped to $5.2 million due to some unforseen issues. The project has been renovated from top to bottom beginning with 100% new roof, all new utilities, total interior demolition of the shell space, all new fascia and 100 % asphalt replacement of the parking lot. They are currently working on the last piece of pavement on the west side of the parking lot and should be finished by December 23. The Mackey Creek drainage and Richland Plaza contractors have been working together which has saved time and money. The overall project is three weeks over schedule. The landscaping is almost complete. Roy mentioned once again how good the City was to work with. He believes that most of the space will be used for offices and telecommunications. 4. Marty referred to a one-page fact sheet which Ashley Stathatos put together for the City to use in marketing to prospective call centers. Between Richland Business Center and Richland Pointe Mall, there will be almost 500,000 square feet of prospective tenant space. These two locations are in competition for tenants but should draw more attention and be complimentary to one another. Currently a lead from the Staubach Co. is interested in 80,000 square feet. Richland Business Centre has been working with brokers to get these tenants signed. They believe a tenant could be signed and moved in by the first quarter of 2000. A question was brought up regarding where potential tenants would be coming from and Marty responded that he and the brokers have been looking not only in the Metroplex but outside the region. The vast number of parking spaces at Richland Business Centre is very appealing and could provide asingle-shift employment figure of 2,500. Thad Chambers of Richland Hills is excited about the impact of the Richland Business Centre on Richland Hills. Renovation in the southern part of the City is part of NRH City Council goals. The developers were unable to save the old Richland Plaza sign. To restore the sign would have cost around $40,000. The sign will be removed by Lone Star Signs. TxDOT granted NRH a temporary permit to hire a contractor to clean up the median. Haltom City has applied for a grant to dress up and clean their portion of the median. Because of the Cities efforts, Belknap and Grapevine will eventually have a whole new look. 3 5. Roy Owens interjected the comment that the "T" Bus System initially did not run to the Richland Business Centre, however the "T" now actually drives into the parking lot of the center. The "T" travels into Fort Worth. From this point Roy proceeded to offer a foot tour of the project. Upon completion of the foot tour, the meeting was adjourned.